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N M I M S SAMPLE
Advance Supply Chain Management
September 2024
Q1. Discuss how you will create an efficient transportation network which can play a pivotal role in ensuring a responsive supply chain for your organizations. (10 Marks)
Ans 1.
Introduction
Creating an efficient transportation network is fundamental to the success of a responsive supply chain in today’s competitive business environment. Transportation plays a critical role in ensuring the seamless flow of goods from suppliers to manufacturers and ultimately to customers. In an era where customer expectations are higher than ever, organizations must prioritize the optimization of their transportation networks to enhance responsiveness, reduce costs, and improve service levels. An efficient transportation network not only reduces lead times but also mitigates risks associated with delays, enhances inventory management, and supports just-in-time delivery systems. This requires a strategic approach encompassing advanced logistics
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Q2. DMart Ready is the online service provided by DMart a grocery brand. It allows its customers to conveniently order groceries, staples, and daily household essentials online. DMart Ready has established several pick-up points for customer’s convenience. Which distribution network design would DMart Ready would be using for this? Differentiate it with other distribution network. (10 Marks)
Ans 2.
Introduction
DMart Ready, an extension of the DMart grocery brand, exemplifies the integration of e-commerce into traditional retail strategies to enhance customer convenience and expand market reach. This service allows customers to order groceries and household essentials online, with the option to pick up their purchases at designated locations. This innovative approach necessitates a tailored distribution network design, distinct from conventional retail distribution strategies. The design employed by DMart Ready revolves around a hybrid model that combines elements of centralized and
Q3. Your organization is designing its supply chain needs to consider both pricing and revenue management so that it earns good profit without compromising on customer satisfaction.
- What pricing strategy will you recommend to ensure maximization of growth in the revenue for your organization if it is catering to multiple segments. (Consider any organization of your choice, give examples) (5 Marks)
Ans 3a.
Introduction
In the competitive landscape of modern business, effective pricing strategies are crucial for maximizing revenue growth while maintaining customer satisfaction. For organizations catering to multiple segments, a dynamic pricing strategy tailored to the distinct characteristics and needs of each segment can drive profitability. A prime example of this approach is Amazon, which employs advanced algorithms to adjust prices in real-time based on demand, competition, and
- If your organization considers a markdown management, discuss the markdown management process steps you would plan. (5 Marks)
Ans 3b.
Introduction
Markdown management is a strategic approach used by organizations to optimize inventory clearance and revenue generation through price reductions. This process is essential for maintaining inventory health and market competitiveness, particularly in retail. Effective markdown management ensures that price reductions are timely, maximize revenue, and minimize losses, thus supporting both financial stability and customer attraction. Implementing a structured markdown
Business: Ethics, Governance & Risk
September 2024 Examination
Note: This assignment is application based, you have to apply what you have learnt in this subject into real life scenario. You will find most of the information through internet search and the remaining from your common sense. None of the questions or answers appear directly in the textbook chapters but are based on the concepts and content covered in the chapters or live sessions, directly or indirectly.
Q1. “Business should Respect and Promote Human Rights.” Prepare an executive summary (in your own words) to showcase how the company is delivering on this Principle 5 of the National Guidelines on Responsible Business Conduct (NGRBC) from the Business Responsibility & Sustainability Report 2022-23 (BRSR) of a company of your choice. Choose any ONE listed company from the BSE/NSE list of top 100 companies by market capitalization. You must mention the name of the selected company and include the weblink to its BRSR. (You may also refer to the company website or its sustainability report for additional information on this principle and its indicators) DO NOT copy paste. (10 Marks)
Ans 1.
Introduction
In the realm of corporate responsibility, the imperative to respect and promote human rights stands as a cornerstone of ethical business practices. This executive summary examines how Reliance Industries Limited (RIL), a prominent entity listed on the Bombay Stock Exchange (BSE), aligns with Principle 5 of the National Guidelines on Responsible Business Conduct (NGRBC). This principle advocates for the safeguarding of human rights within the sphere of business operations. Reliance Industries, through its Business Responsibility and Sustainability Report (BRSR) for the fiscal year 2022-23, provides a transparent overview of its initiatives and policies designed to uphold and foster human rights. This summary aims to unfold
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Q2. Go through the ‘Management Discussion & Analysis’ section in the annual report (FY2022-23) of the company selected in Q1 and prepare an analytical write up (in your own words) on all the risks identified by the company and the mitigation/management strategy/action deployed to manage each of those risks. Conclude with your learnings or insights about risk management in this company. (You may need to look at other sections covering risks in the integrated report or annual report of the company. Please mention the name of the company and include the weblink to its annual report 2022-23. DO NOT copy paste. (10 Marks)
Ans 2.
Introduction
Reliance Industries Limited (RIL), a leading conglomerate in India, systematically addresses various risks associated with its diverse operations in its FY2022-23 annual report. The ‘Management Discussion & Analysis’ section of this report provides a comprehensive overview of the potential risks and the strategies deployed by the company to mitigate them effectively. This analysis is crucial for understanding how RIL sustains its market leadership and
Q3. Albert, a Customer Relations Executive from your Southeast Asia third party manufacturing vendor will visit your Head Office to meet with your sales team. Your independent Southeast Asian agent requests that you reimburse the Customer Relations Executive for his expenses, including personal expenses that could violate your company’s policies. The independent agent promises to reimburse you.
- Explain the process/steps you will follow to handle this situation? (5 Marks)
Ans 3a.
Introduction
Navigating the complexities of compliance and ethical business practices is crucial when dealing with reimbursement requests that potentially conflict with company policies. This situation involves a request from an independent Southeast Asian agent to cover personal expenses for a visiting executive, which may violate the company’s strict reimbursement policies. The steps to handle this situation must ensure transparency, adherence to company guidelines, and maintenance of corporate
- We need Ethical Managers more than ever today. Briefly explain what are the five most important values/virtues that help/guide a manager take ethical decisions, according to you. (5 Marks)
Ans 3b.
Introduction
In today’s complex and rapidly changing business environment, ethical leadership is crucial for fostering a sustainable and trustworthy organizational culture. Ethical managers play a pivotal role in guiding their teams and making decisions that uphold the integrity of the organization. The following are five essential values or virtues that help managers make ethical decisions,
Employee Development & Talent Management
September 2024 Examination
Q1. Since 6 years when Rahul Sumant had joined Acme Inc., he had been applying many approaches to employee development. He was successful in retaining most of the talent and saw good results. However, management always showed mild disappointment towards the overall growth rate of the organization. They expected more prominent sales advancement and growth. Rahul decides to use 360 degrees appraisal as a new initiative. Please discuss the concept of 360 degrees appraisal and how it will contribute to finding the root cause for slower growth at Acme. (10 Marks)
Ans 1.
Introduction
Employee development and talent management are crucial for the sustained growth and success of any organization. At Acme Inc., Rahul Sumant has implemented various approaches over the past six years to foster employee development and retain top talent. While these efforts have led to impressive employee retention and notable outcomes, the management remains dissatisfied with the company’s overall growth rate, particularly in terms of sales advancement. This persistent issue has prompted Rahul to consider implementing a 360-degree appraisal system as a new initiative. This comprehensive feedback mechanism, which involves
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Q2. Apex Tech was at its peak performance in the financial market when the charismatic founder, Ashutosh, collapsed suddenly on one of his business trips. His employees felt lost, his customers were left confused. There were constant phone calls enquiring about the status of various projects going on resulting in great uncertainty since no one but only Ashutosh was aware of all the required facts. Every other employee knew only part of every project. The company struggled to keep the nose above the water until Ashutosh was back on his feet and realised his mistake that he has not developed any succession plan for his growing business. What Issues do you think lack of succession planning might cause? (10 Marks)
Ans 2.
Introduction
Succession planning is a critical component of effective organizational management, ensuring continuity and stability in times of unexpected changes. The sudden collapse of Ashutosh, the charismatic founder of Apex Tech, highlighted the dire consequences of not having a succession plan in place. His absence left employees disoriented, customers confused, and projects in limbo due to the lack of comprehensive knowledge among the staff. This scenario underscores the importance of preparing for leadership transitions to maintain business operations seamlessly. Without a succession plan, organizations like Apex Tech face significant challenges that can jeopardize their performance, reputation, and overall sustainability. Understanding these challenges is
Q3. SolarCity is a start-up that has grown quickly with awareness of solar powered equipment. Growing from 20 to 120 within a span of 1 year 4 months, the director, Gautam wants to set up a performance management system.
Additional information, the organization has flat hierarchy currently with Gautam and his 2 partners spear heading core departments.
- Gautam wants to implement Human Asset Accounting method at the start of the process. Please explain the concept and justify if this would be an appropriate method of SolarCity? (5 Marks)
Ans 3a.
Introduction
SolarCity, a rapidly growing start-up focused on solar-powered equipment, has expanded from 20 to 120 employees within 16 months. To manage this growth effectively, the director, Gautam, seeks to implement a performance management system. He is considering the Human Asset Accounting (HAA) method as a foundational element of this system. Understanding the concept of HAA and its applicability to SolarCity’s unique organizational structure and rapid growth
- One of Gautam’s partners thinks, MBO would be an appropriate method. Please elaborate your opinion on this thought. (5 Marks)
Ans 3b.
Introduction
Management by Objectives (MBO) is a performance management approach that aligns employees’ goals with the overall objectives of the organization. One of Gautam’s partners at SolarCity believes that implementing MBO could be beneficial for the company. Considering SolarCity’s rapid growth and flat hierarchy, evaluating the suitability of MBO for the start-up’s performance management system
Insurance & Risk Management
September 2024 Examination
Q1. ABC Insurance Company, a prominent participant in the property and liability insurance domain, encountered the formidable obstacle of providing insurance coverage for properties situated in regions at high risk of natural calamities, including hurricanes, earthquakes, and wildfires. Although these policies offered policyholders necessary coverage, there was a significant risk of suffering enormous losses in the event of a catastrophic occurrence. In order to tackle this obstacle, XYZ Insurance Company put in place a strong reinsurance plan. They collaborated with a number of elite reinsurers to disperse the risk of disastrous occurrences over a larger range. By doing this, XYZ Insurance Company hoped to lessen its vulnerability to significant losses while still being able to carry out its policy responsibilities. Enumerate the term “Reinsurance” and highlight the various areas of application of Reinsurance. (10 Marks)
Ans 1.
Introduction
Reinsurance is an essential mechanism within the insurance industry, designed to enhance stability and distribute risks more effectively. This concept acts as a financial safeguard for insurance companies, enabling them to recover from the financial strain caused by large-scale claims, such as those resulting from natural disasters. In the scenario of ABC Insurance Company facing the challenge of providing coverage in high-risk areas, the utilization of reinsurance through collaboration
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Q2. In the insurance sector, risk management holds significant importance. Provide a detailed explanation of the risk management process, including its individual steps. (10 Marks)
Ans 2.
Introduction
In the realm of insurance, effective risk management is paramount, acting as the backbone that supports the stability and sustainability of insurance operations. The risk management process in insurance is a systematic approach to identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the probability and/or impact of unfortunate events. This meticulous process is crucial for insurance companies as it directly influences their ability to provide reliable coverage, set appropriate premiums, and maintain financial health. Moreover, given the unpredictable
Q3a. Consider yourself an insurance company’s legal counsel. A client has approached you regarding property insurance. The insured interest is the client’s worry. Explain the concept of insurable interest. Write a thorough answer outlining the meaning of insurable interest for your customer and provide the details on the essentials of insurable interest. (5 Marks)
Ans 3a.
Introduction
As legal counsel for an insurance company, it is essential to clarify the concept of insurable interest to clients seeking property insurance. Insurable interest is a fundamental principle in insurance law that legitimizes the insurance contract. It ensures that the policyholder has a valid, legally recognized reason to insure an item or property, primarily based on the potential financial loss the policyholder would suffer if the insured property were damaged or lost. Understanding this concept is crucial
Q3b. Vishal insured his car for ₹15,00,000, but it was stolen shortly afterward. The insurance company will compensate him for the loss as per the policy terms. However, if Vishal later recovers his car, the insurer will retain full ownership rights to it. This is because Vishal has already received compensation for the loss and is not permitted to profit from the situation in any way. Identify the underlined principle of insurance stated in the above scenario. Also, mention the important aspects on the stated principle and its limitations. (5 Marks)
Ans 3b.
Introduction
The scenario described, where Vishal receives compensation for his stolen car and forfeits rights to it if recovered post-compensation, exemplifies a core principle of insurance known as “indemnity”. This principle is foundational in insurance policies covering losses such as theft or damage to property. Indemnity ensures
Insurance & Risk Management
September 2024 Examination
Q1. ABC Insurance Company, a prominent participant in the property and liability insurance domain, encountered the formidable obstacle of providing insurance coverage for properties situated in regions at high risk of natural calamities, including hurricanes, earthquakes, and wildfires. Although these policies offered policyholders necessary coverage, there was a significant risk of suffering enormous losses in the event of a catastrophic occurrence. In order to tackle this obstacle, XYZ Insurance Company put in place a strong reinsurance plan. They collaborated with a number of elite reinsurers to disperse the risk of disastrous occurrences over a larger range. By doing this, XYZ Insurance Company hoped to lessen its vulnerability to significant losses while still being able to carry out its policy responsibilities. Enumerate the term “Reinsurance” and highlight the various areas of application of Reinsurance. (10 Marks)
Ans 1.
Introduction
Reinsurance is an essential mechanism within the insurance industry, designed to enhance stability and distribute risks more effectively. This concept acts as a financial safeguard for insurance companies, enabling them to recover from the financial strain caused by large-scale claims, such as those resulting from natural disasters. In the scenario of ABC Insurance Company facing the challenge of providing coverage in high-risk areas, the utilization of reinsurance through collaboration
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Q2. In the insurance sector, risk management holds significant importance. Provide a detailed explanation of the risk management process, including its individual steps. (10 Marks)
Ans 2.
Introduction
In the realm of insurance, effective risk management is paramount, acting as the backbone that supports the stability and sustainability of insurance operations. The risk management process in insurance is a systematic approach to identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the probability and/or impact of unfortunate events. This meticulous process is crucial for insurance companies as it directly influences their ability to provide reliable coverage, set appropriate premiums, and maintain financial health. Moreover, given the unpredictable
Q3a. Consider yourself an insurance company’s legal counsel. A client has approached you regarding property insurance. The insured interest is the client’s worry. Explain the concept of insurable interest. Write a thorough answer outlining the meaning of insurable interest for your customer and provide the details on the essentials of insurable interest. (5 Marks)
Ans 3a.
Introduction
As legal counsel for an insurance company, it is essential to clarify the concept of insurable interest to clients seeking property insurance. Insurable interest is a fundamental principle in insurance law that legitimizes the insurance contract. It ensures that the policyholder has a valid, legally recognized reason to insure an item or property, primarily based on the potential financial loss the policyholder would suffer if the insured property were damaged or lost. Understanding this concept is crucial
Q3b. Vishal insured his car for ₹15,00,000, but it was stolen shortly afterward. The insurance company will compensate him for the loss as per the policy terms. However, if Vishal later recovers his car, the insurer will retain full ownership rights to it. This is because Vishal has already received compensation for the loss and is not permitted to profit from the situation in any way. Identify the underlined principle of insurance stated in the above scenario. Also, mention the important aspects on the stated principle and its limitations. (5 Marks)
Ans 3b.
Introduction
The scenario described, where Vishal receives compensation for his stolen car and forfeits rights to it if recovered post-compensation, exemplifies a core principle of insurance known as “indemnity”. This principle is foundational in insurance policies covering losses such as theft or damage to property. Indemnity ensures
International Banking & Foreign Exchange Management
September 2024 Examination
Q1. Suppose that you have just been hired as an Economist by the IMF. Explain to your friends what your organization does and its importance in the world. (10 Marks)
Ans 1.
Introduction
The International Monetary Fund (IMF), established in 1944, plays a pivotal role in the global financial landscape. As a specialized agency of the United Nations, it aims to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. The IMF is instrumental in providing countries with the tools needed to manage economic crises and improve their economies through financial assistance, technical advice, and policy guidance. As an economist at the IMF, I would
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Q2. Ajay is a Non Resident Indian (NRI) and wants to open a bank account in India. Describe the different kinds of accounts that he can open. Discuss the features of these accounts and distinguish between them. (10 Marks)
Answer:
Introduction
Non-Resident Indians (NRIs) like Ajay, looking to maintain financial ties with India, have several banking options tailored to meet their specific needs. Indian banks offer various types of accounts that cater to the diverse financial needs of NRIs, facilitating investment, savings, and transactions while they live abroad. These accounts are crucial for managing income earned outside India and for making investments within the country. Understanding the different types of accounts available is essential for NRIs
Ans 3a.
Introduction
Subhash, as you begin your internship at Reddinton Analysts, it’s important to understand the basic concepts of spot and forward exchange rates, as these are fundamental in foreign exchange markets. Spot rates and forward rates represent the prices at which currencies can be exchanged but differ in terms of timing and conditions.
Concept And
Ans 3b.
Introduction
In the world of international finance, exchange rate systems play a crucial role in determining how currencies are valued and traded. The two primary types of exchange rate systems are floating exchange rate systems and fixed exchange rate systems, each with distinct characteristics and implications for economic stability and policy.
Concept And
International HR Practices
September 2024 Examination
Q1) GloTech Solutions, a New York-based technology consulting firm specializing in large-scale IT infrastructure projects, is planning to establish a regional headquarters in Tokyo, Japan. To spearhead this initiative, a team of 12 IT consultants from the United States and 3 from Germany, including a senior project director from Germany, will relocate to Tokyo. What are the pre-departure and post-arrival training HR should plan for the team? What could be the top 3 challenges you as HR Manager expect after the movement is completed to Tokyo? (10 Marks)
Ans 1.
Introduction
In the context of global business expansion, human resources play a critical role in ensuring the smooth transition of staff between international borders. GloTech Solutions, a technology consulting firm based in New York, is poised to extend its operational frontiers by setting up a regional headquarters in Tokyo, Japan. This strategic move involves relocating a culturally diverse team, including IT consultants from the United States and Germany, with a senior project director from Germany at the helm. As the firm navigates the complexities of this transition, it is imperative for HR to meticulously plan both pre
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Q2. XYZ Limited is a leading bicycle manufacturing company from Ludhiana, India, and now coming up new offices in Europe and Australia continent. The Management set to standardize the Performance Management Policies in new international offices of the company. How should performance metrics be standardized to ensure fairness and comparability across different international offices? What challenges might arise in the collection and analysis of performance data from diverse locations? (10 Marks)
Ans 2.
Introduction
As XYZ Limited, a premier bicycle manufacturer based in Ludhiana, India, expands its footprint into Europe and Australia, the challenge of maintaining a consistent and fair performance management system across culturally diverse and geographically dispersed offices comes to the forefront. Establishing standardized performance metrics is crucial not only for ensuring fairness and comparability but also for aligning the operations and strategic goals of the company across all international offices. This task involves adapting the company’s performance management policies to accommodate local variations while maintaining global standards. Such standardization facilitates coherent organizational growth, enables equitable employee evaluations, and supports unified
Q3. GreenWave Solutions, a startup headquartered in Pune, India, specializes in eco-friendly water purification systems. Known for their innovative and sustainable technology, they have gained attention from clients both in India and internationally. Recently, they secured a 15-year contract to supply their systems to a new green initiative in Berlin, Germany. As part of the contract, they need to employ 2 engineers, 3 quality assurance experts, 2 supply chain managers, and 1 customer support manager at the client’s headquarters in Berlin. GreenWave Solutions has decided to recruit local candidates in Germany to comply with local employment laws and reduce costs. You are an HR consultant tasked with facilitating this international expansion.
- a) What are the Key challenges and Considerations in Recruiting, Selecting, and Managing Local Talent in Berlin, Germany you may come across? Elaborate your answer keeping the scenario in mind. (5 Marks)
Ans 3a.
Introduction
Expanding into Berlin, Germany, GreenWave Solutions faces unique challenges in recruiting and managing local talent to support its green initiative project. As an eco-friendly water purification startup from Pune, India, the firm must adapt to the German business environment, which involves understanding local employment laws, cultural nuances, and professional expectations. Effective recruitment and management of local staff will be crucial to ensure the successful implementation and operation of their systems in Berlin.
Concept and Application
- b) What strategies will you plan to attract skilled local talent in a competitive job market with limited brand recognition? (5 Marks)
Ans 3b.
Introduction
In the competitive job market of Berlin, GreenWave Solutions faces the challenge of attracting skilled local talent despite its limited brand recognition. As a startup specializing in eco-friendly water purification systems, the company must leverage innovative strategies to distinguish itself and appeal to potential employees. Effective recruitment tactics must highlight the company’s unique selling points, such as its commitment to sustainability and the technological innovation it brings to the environmental sector, to captivate
International Logistics & Supply Chain Management
September 2024 Examination
Q1. An international medical device manufacturing company exports its products to India where its customers are served through its sole national distribution agent. With the growing Indian market and the benefits of the production-linked incentives offered by the Indian government, it has sensed a lucrative opportunity for setting up its manufacturing operations in India to cater to not just the domestic market but the entire Indian subcontinent region. How can the company go about its supply chain planning? Suggest appropriate supply chain strategy / strategies for the same. (10 marks)
Ans 1.
Introduction
In an increasingly globalized economy, international logistics and supply chain management play crucial roles in determining the operational success of manufacturing enterprises. As a prominent international medical device manufacturer contemplates establishing a production facility in India, the strategic integration of supply chain elements becomes imperative. This move is prompted by the rising demand in the Indian market and attractive production-linked incentives offered by the Indian government, designed to foster manufacturing prowess and economic growth. Establishing a manufacturing presence in India not only aims to optimize the company’s supply chain by reducing logistical costs and lead times but also intends to enhance
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Q2. A leading Indian perfume brand is planning an expansion to export its products to countries in the Indian subcontinent region. What are the various factors it must consider in planning the logistics for the exports? Suggest the appropriate choice of logistics strategy (in-house / outsourcing, etc.) for the same. (10 marks)
Ans 2.
Introduction
Expanding into international markets presents an exciting opportunity for a leading Indian perfume brand to amplify its presence and boost revenue. As the brand plans its expansion to export products across the Indian subcontinent, meticulous planning in logistics becomes essential to ensure the success of this endeavor. Logistics, particularly in the fragrance industry, involves complex processes due to the delicate nature of the products and the stringent regulations of different
Q3. An Indian importer of glassware products is setting up its manufacturing operations in India for which it will need to import silica sand & quartz sand into India.
- Compare the various options of transportation modes to import the silica sand & quartz sand, and explain the choice of the appropriate transportation modes. (5 marks)
Ans 3a.
Introduction
As an Indian importer of glassware products transitions to manufacturing operations within India, the import of raw materials like silica sand and quartz sand becomes essential. Choosing the most suitable transportation mode is crucial for ensuring the raw materials are imported efficiently, cost-effectively, and safely. This selection will impact the overall supply chain’s reliability, cost structure, and operational efficiency. The decision involves comparing different transportation options,
- From which countries can the importer import silica sand & quartz sand? How can it facilitate such import procurement over the long term in a consistent & reliable manner? (5 marks)
Ans 3b.
Introduction
Identifying the best sources for importing silica and quartz sand is vital for an Indian glassware manufacturer to ensure a continuous supply of quality raw materials. Silica and quartz sand are abundantly available in several countries known for their quality and reserves. Establishing a stable and reliable
Lean Six Sigma
September 2024 Examination
- Examine the utilization of the DMAIC methodology and its relevant tools for improving business processes in an electric car manufacturing firm. Enumerate five process audits suitable for implementation within such a company, and elaborate on the specifics of at least two of these audits. (10 Marks)
Ans 1.
Introduction
Lean Six Sigma is a systematic methodology aimed at enhancing business processes by reducing waste and increasing efficiency. Its application within the context of an electric car manufacturing firm is particularly pertinent, given the industry’s complex production cycles and the need for innovation and environmental sustainability. The DMAIC framework, which stands for Define, Measure, Analyze, Improve, and Control, serves as a cornerstone in Lean Six Sigma by providing a structured approach to problem-solving. This methodological strategy is instrumental in
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- Consider yourself as a Six Sigma project leader overseeing operations for an online cab service in India. Construct a fishbone diagram to identify potential issues (any 5) faced by online cab services that accepting customer orders through apps. Furthermore, elucidate the stages of Failure Mode and Effects Analysis (FMEA), offering examples from the online cab services for each step. (10 Marks)
Ans 2.
Introduction
In the rapidly evolving landscape of online cab services in India, the integration of Six Sigma methodologies can significantly enhance operational efficiency and customer satisfaction. As a Six Sigma project leader, it is crucial to identify and address potential issues that can arise when accepting customer orders through apps. The fishbone diagram, or Ishikawa diagram, serves as an effective tool for categorizing and visualizing these challenges, thereby facilitating targeted interventions. Additionally
- A burgeoning Ed-tech startup seeks to increase technical workforce to support its expanding operations. The HR department lacks an IT system dedicated to managing the hiring process, relying predominantly on email for communication. In addition, they primarily undertakes candidate sourcing internally and occasionally collaborates with external recruitment agencies on an ad-hoc basis.
- Construct a flowchart depicting the recruitment process for a new staff member, utilizing the SIPOC diagram to elucidate the various processes and decision tasks inherent in a typical recruitment process. (5 Marks)
Ans 3a.
Introduction
As a burgeoning Ed-tech startup experiences rapid growth, the need for an efficient recruitment process becomes paramount, especially to bolster its technical workforce. Currently, the HR department lacks a dedicated IT system for managing hiring activities, relying heavily on emails and a mix of internal and occasional external recruitment efforts. To streamline these operations and ensure a consistent approach to talent acquisition, it is crucial to visually map out the recruitment process. Utilizing a SIPOC diagram—a tool that outlines Suppliers, Inputs, Process, Outputs, and
- Distinguish between verification and validation using examples and discuss techniques employed in validation activities for new product and process design. (5 Marks)
Ans 3b.
Introduction
In the development of new products and processes, ensuring quality and meeting user expectations are paramount. Two critical concepts in this context are verification and validation—often used interchangeably but distinct in their functions and objectives. Verification refers to the process of checking whether a product or process meets predefined requirements, while validation ensures that the product or process meets the actual needs and uses for which it was designed. Both are crucial for achieving quality and reliability in product development and deployment but serve
Lean Six Sigma
September 2024 Examination
- Examine the utilization of the DMAIC methodology and its relevant tools for improving business processes in an electric car manufacturing firm. Enumerate five process audits suitable for implementation within such a company, and elaborate on the specifics of at least two of these audits. (10 Marks)
Ans 1.
Introduction
Lean Six Sigma is a systematic methodology aimed at enhancing business processes by reducing waste and increasing efficiency. Its application within the context of an electric car manufacturing firm is particularly pertinent, given the industry’s complex production cycles and the need for innovation and environmental sustainability. The DMAIC framework, which stands for Define, Measure, Analyze, Improve, and Control, serves as a cornerstone in Lean Six Sigma by providing a structured approach to problem-solving. This methodological strategy is instrumental in
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- Consider yourself as a Six Sigma project leader overseeing operations for an online cab service in India. Construct a fishbone diagram to identify potential issues (any 5) faced by online cab services that accepting customer orders through apps. Furthermore, elucidate the stages of Failure Mode and Effects Analysis (FMEA), offering examples from the online cab services for each step. (10 Marks)
Ans 2.
Introduction
In the rapidly evolving landscape of online cab services in India, the integration of Six Sigma methodologies can significantly enhance operational efficiency and customer satisfaction. As a Six Sigma project leader, it is crucial to identify and address potential issues that can arise when accepting customer orders through apps. The fishbone diagram, or Ishikawa diagram, serves as an effective tool for categorizing and visualizing these challenges, thereby facilitating targeted interventions. Additionally
- A burgeoning Ed-tech startup seeks to increase technical workforce to support its expanding operations. The HR department lacks an IT system dedicated to managing the hiring process, relying predominantly on email for communication. In addition, they primarily undertakes candidate sourcing internally and occasionally collaborates with external recruitment agencies on an ad-hoc basis.
- Construct a flowchart depicting the recruitment process for a new staff member, utilizing the SIPOC diagram to elucidate the various processes and decision tasks inherent in a typical recruitment process. (5 Marks)
Ans 3a.
Introduction
As a burgeoning Ed-tech startup experiences rapid growth, the need for an efficient recruitment process becomes paramount, especially to bolster its technical workforce. Currently, the HR department lacks a dedicated IT system for managing hiring activities, relying heavily on emails and a mix of internal and occasional external recruitment efforts. To streamline these operations and ensure a consistent approach to talent acquisition, it is crucial to visually map out the recruitment process. Utilizing a SIPOC diagram—a tool that outlines Suppliers, Inputs, Process, Outputs, and
- Distinguish between verification and validation using examples and discuss techniques employed in validation activities for new product and process design. (5 Marks)
Ans 3b.
Introduction
In the development of new products and processes, ensuring quality and meeting user expectations are paramount. Two critical concepts in this context are verification and validation—often used interchangeably but distinct in their functions and objectives. Verification refers to the process of checking whether a product or process meets predefined requirements, while validation ensures that the product or process meets the actual needs and uses for which it was designed. Both are crucial for achieving quality and reliability in product development and deployment but serve
New Product Development and Managing Innovation
September 2024 Examination
- You’re part of the strategy team at an educational technology startup targeting young adults. Your task is to lead the development of a new product aimed at providing learning opportunities for individuals in their late teens and twenties. The product will cover various subjects such as coding, music, arts, etc. Explain your approach throughout the different stages of the generic product design and development process. (10 Marks)
Ans 1.
Introduction
In today’s fast-paced and technologically driven world, educational technology (EdTech) plays a pivotal role in shaping the learning experiences of young adults. As part of the strategy team at an EdTech startup, our goal is to create a dynamic and versatile product that caters to the diverse interests and educational needs of individuals in their late teens and twenties. This product will encompass a range of subjects, including coding, music, and arts, providing a holistic learning platform that is both engaging and informative. The process of developing this new product involves a meticulous approach, adhering to the stages of the generic product design and development process. This includes ideation, concept development, prototyping,
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- What components constitute product packaging, and what functions does packaging fulfill? Consider the role of packaging through the perspective of e-commerce platforms in India (e.g., Amazon, Big Basket, Myntra, Meesho). Discuss the significance of product packaging in this context. (10 Marks)
Ans 2.
Introduction
In the contemporary e-commerce landscape, product packaging plays a multifaceted role that extends beyond merely protecting the contents during transit. For platforms like Amazon, Big Basket, Myntra, and Meesho in India, packaging has evolved into a critical component of the customer experience and branding strategy. The packaging not only serves to secure the product from the point of dispatch to delivery but also acts as a powerful communication tool that reinforces brand identity and influences consumer perception. In a market characterized by intense competition and high
3a. You hold the position of product manager at a cutting-edge technology startup. Your friend is establishing a business and seeks guidance on Intellectual Property Rights (IPR). Clarify the different forms of IPR and emphasize the importance of integrating IPR considerations into new product development. Offer an illustrative example for each type of IPR. (5 Marks)
Ans 3a.
Introduction
Intellectual Property Rights (IPR) are crucial for protecting the innovations and creative outputs of businesses, ensuring that creators can reap the benefits of their inventions and artistic expressions. As a product manager at a technology startup, understanding and implementing IPR strategies is pivotal for safeguarding our competitive edge and fostering innovation. For entrepreneurs, integrating IPR considerations into new product development not only secures their inventions but also enhances the company’s valuation and appeal to investors. This guidance outlines
- Let’s say you’re part of the team at FitSprint, a startup specializing in Android app development. FitSprint seeks your expertise in analyzing various product features for their upcoming fitness tracking app using the Kano model. Provide a concise overview of the Kano model and discuss its classifications of features within the realm of smartphone applications. (5 marks)
Ans 3b.
Introduction
The Kano Model, developed by Professor Noriaki Kano in the 1980s, is a powerful tool for product development that helps teams understand customer preferences and prioritize features based on their impact on customer satisfaction. This model is particularly effective in the dynamic field of smartphone app development, where user expectations and technological capabilities are constantly evolving. At FitSprint, applying the Kano Model to our upcoming fitness tracking app
Research Methodology
September 2024 Examination
Q1. A consultancy company providing services in the area of Digital Transformation and Analytics is seeing a considerable amount of attrition among its employees. The company is interested in reducing the level of attrition as the cost of recruiting new employees is adding to the burden of its overall cost. Discuss the management problem and convert it into a research problem. Write down the research plan for this study. (10 Marks)
Ans 1.
Introduction
The consultancy sector, particularly in fields like Digital Transformation and Analytics, has always been dynamic, characterized by rapid technological advancements and high demand for skilled professionals. However, this demand also fosters a competitive job market where employee retention becomes a critical challenge. A consultancy company in this sector is experiencing a significant attrition rate, which not only disrupts ongoing projects and team dynamics but also incurs substantial costs related to recruiting and training new employees. The management problem here
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Q2. You have been working in HDFC bank as marketing manager. You have to study the relationship between new adverting campaign themes and customer’s liking of the campaign. Explain independent, dependent and extraneous variables for this study. State the design of experiment, null and alternative hypothesis for this situation. What are the potential threats of internal and external validity? (10 Marks)
Ans 2.
Introduction
In the competitive banking industry, advertising campaigns play a pivotal role in attracting and retaining customers by influencing their perceptions and preferences. HDFC Bank, a major player in this sector, has launched new advertising campaign themes aimed at increasing customer engagement and brand loyalty. This study aims to examine the relationship between these new advertising themes and customer liking, which is critical for enhancing the effectiveness of marketing strategies. Understanding this relationship requires identifying different types of variables involved in the study, designing an
Q3. The real estate boom has seen significant rise after the pandemic is over from last two years. The prices of mid-size flats for the middle class has gone up considerably. One of the real estate branded company (Paradise Group) has been following ethical practices and RERA (Real Estate Regulatory authority) standards. They have been providing Semi- furnished housing, quality material, timely possession and legal rights to its customers. However, the prices offered by Company is slightly higher than those of customers in the same area/zone. They relied on both paid adverting and word of mouth(WOM) promotion as they believe in real estate has to leverage both.
- Develop suitable research questions, research objectives and variables to be studied and measured. (5 Marks)
Ans 3a.
Introduction
The post-pandemic real estate market has experienced significant growth, particularly in the sector of mid-size flats tailored for the middle class. Paradise Group, a company that adheres strictly to ethical practices and RERA standards, offers higher-priced semi-furnished housing options than its competitors. Despite the price difference, the company utilizes a combination of paid advertising and word
- Develop a suitable questionnaire for answering the developed research problems and objectives. Explain the type of scale after each question. (5 Marks)
Ans 3b.
Introduction
To address the research questions and objectives regarding Paradise Group’s market strategies, a well-structured questionnaire is essential. This tool will gather critical data on customer perceptions, satisfaction, and decision-making factors in the real estate market. The questionnaire will focus on Paradise Group’s pricing, adherence to ethical standards, and the effectiveness of their marketing
Strategic HRM
September 2024 Examination
- Think of two managers who have trained you – one whom you consider very good and one whom you consider a poor manager. What specific behaviours distinguish the two managers? In your opinion what is the best source of obtaining training performance data for appraising performance of managers? What are the merits and demerits of appraisal of managers by students? (10 Marks)
Ans 1.
Introduction
Strategic Human Resource Management (SHRM) is a crucial component in aligning the objectives of HR with the broader goals of an organization. It emphasizes the importance of integrating HR practices with business strategy to enhance performance and competitive advantage. Training and development of managers are vital aspects of SHRM, as effective leadership can significantly influence organizational success. Reflecting on personal experiences with different managers provides valuable insights into effective and ineffective managerial behaviors. This
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- Do you think that the compensation and rewards strategy of a high technology firm will be different from that of an emerging fast-growing firm? Why? Enumerate your answer giving examples. (10 Marks)
Ans 2.
Introduction
Compensation and rewards strategies are crucial elements that influence employee motivation, retention, and overall company performance. These strategies often vary significantly between different types of organizations due to their unique business models, growth trajectories, and market dynamics. In particular, high technology firms and emerging fast-growing firms operate in
- Mind Space Technology Solutions is a medium-sized technology company that specializes in software development. The company has experienced rapid growth in recent years, expanding its customer base and entering new markets. However, with this growth came challenges related to performance management, particularly in evaluating and developing its workforce.
Mind Space Technology Solutions is struggling with its performance evaluation process, which is perceived by employees as subjective and unfair. The current system relies heavily on annual performance reviews, which are often rushed and lack meaningful feedback. The HR department is tasked with revamping the performance evaluation process to make it more objective, transparent, and aligned with the company’s strategic goals.
There is a lack of alignment between employee goals and organizational goals at Mind Space Technology Solutions. Many employees are unclear about how their individual contributions impact the company’s overall success. The HR department is tasked with developing a system to cascade organizational goals down to individual employees and ensure that everyone is working towards common objectives.
Mind space Technology Solutions recognizes the importance of employee development in retaining top talent and staying competitive. However, the company’s current approach to employee development is ad-hoc and lacks a structured framework. The HR department is tasked with developing a comprehensive employee development program that includes training, mentoring, and career planning.
- What role can technology play in improving the performance evaluation process, and what are the potential benefits and drawbacks. (5 Marks)
Ans 3a.
Introduction
Technology can significantly enhance the performance evaluation process by making it more objective, efficient, and aligned with organizational goals. Mind Space Technology Solutions, facing challenges in its current subjective and infrequent performance reviews, can leverage technological solutions to revamp its performance management system. This approach aims to foster
- How should Mind Space Technology Solutions communicate organizational goals to employees to ensure alignment with individual goals. (5 Marks)
Ans 3b.
Introduction
Effective communication of organizational goals is crucial for aligning individual efforts with the company’s strategic objectives. Mind Space Technology Solutions needs to develop a clear, consistent, and engaging communication strategy to ensure that all employees understand how their roles contribute to the overall success of the organization. This alignment fosters a cohesive work
Treasury Management in Banking
September 2024 Examination
- RBI is building up Forex Reserves thru buying USD from the inter-bank market to maintain INR volatility and then doing INR sterilisation to avoid money supply. Explain the impact of this RBI action on Money Supply & inflation. (10 Marks)
Ans 1.
Introduction
The Reserve Bank of India (RBI), as the central banking authority, plays a pivotal role in maintaining the stability of the Indian rupee (INR) through various monetary policies. One of the key strategies employed by the RBI involves the accumulation of foreign exchange reserves by purchasing U.S. dollars (USD) from the inter-bank market. This action is primarily aimed at mitigating volatility in the
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- In view of the Geo-political situation world-wide, what are the products provided by banks to Corporates to hedge forex risk and interest rate risk. Explain with example. (10 Marks)
Ans 2.
Introduction
In the dynamic realm of global finance, corporations face significant exposure to fluctuations in foreign exchange rates and interest rates, which can impact profitability and financial stability. Banks play a crucial role in mitigating these risks by offering a suite of treasury management products tailored to the needs of corporate clients. These financial instruments are designed to hedge against
- Explain the role of the Treasurer considering:
- What are challenges in International Treasury Management? (5 Marks)
Ans 3a.
Introduction
In the complex landscape of global finance, the role of a treasurer is pivotal in navigating the intricacies of international treasury management. This role encompasses a broad array of responsibilities and challenges, primarily due to the diverse and dynamic nature of global markets. Treasurers must contend with multiple factors that complicate financial operations across borders, ranging from
- What are the Best Practices for International Treasury Management? (5 Marks)
Ans 3b.
Introduction
In the ever-evolving world of global finance, adopting best practices in international treasury management is crucial for organizations aiming to optimize their financial operations and mitigate risks. These practices are designed to enhance efficiency, improve liquidity management,
World Class Operations
September 2024 Examination
- Vijay Ananthan has just joined as the GM – Maintenance at a leading Compressor Manufacturer. As he reviews the company’s Equipment Maintenance history, he is concerned that there is no coherent Maintenance Strategy – i.e., except for some cases (e.g., critical equipment) where the company uses Preventive Maintenance, the common approach is Reactive Maintenance. In order to streamline the Maintenance Department, Vijay is keen to adopt a Predictive Maintenance Strategy.
In this context, …
- Describe the Reactive Maintenance & Preventive Maintenance approaches, along with their respective Pros & Cons.
- Explain the Predictive Maintenance approach and why Vijay would want to adopt it to overcome the problems of Reactive Maintenance & Preventive Maintenance. (10Marks)
Ans 1.
Introduction
In the realm of equipment maintenance, organizations employ various strategies to ensure the longevity and reliability of their machinery. Traditionally, two predominant approaches have been Reactive Maintenance and Preventive Maintenance. Reactive Maintenance, also known as breakdown maintenance, involves repairing equipment only after it has failed, which can lead to unplanned downtime and potential safety hazards. On the other hand, Preventive Maintenance entails regularly scheduled inspections and servicing of equipment to
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- World Class Manufacturers (WCMs) in diverse sectors such as Automotive (Nissan, BMW), Appliances (Siemens, Hyundai), etc., are highly reputed for their unflinching commitment to Quality. These manufacturers have understood that Quality is about identifying “what is important to Customers” and delivering this to their customers. Explain how these (and other) WCMs use frameworks such as QFD and HOQ to help embed Quality into every aspect of the Product Creation – From Concept to Manufacturing. (10Marks)
Ans 2.
Introduction
World Class Manufacturers (WCMs) such as Nissan, BMW, Siemens, and Hyundai have established themselves as leaders in their respective industries by prioritizing quality at every stage of their product creation processes. These organizations understand that quality is not just about meeting technical specifications but about identifying and fulfilling customer needs and expectations. To achieve this, WCMs employ various frameworks and methodologies, including Quality Function Deployment (QFD) and the House of Quality (HOQ). These tools
3a. Quality Awards are not only about rewarding organizations but also about recognizing the importance of quality in the business. These awards are often used as a tool to raise awareness among both Employees and as well, Customers about the importance of quality. They also help to improve Customer Satisfaction and Employee Morale. Discuss the difference between Regional and International Awards. (5 marks)
Introduction
Quality awards play a crucial role in promoting the significance of quality within organizations, both among employees and customers. These awards not only recognize excellence but also drive improvements in customer satisfaction and employee morale. They come in various forms,
- b) Describe the European Foundation for Quality Management (EFQM) Award and its Evaluation Criteria. (5 marks)
Ans 3b.
Introduction
The European Foundation for Quality Management (EFQM) Award is one of the most prestigious quality awards in Europe, recognizing organizations that demonstrate excellence in their operations and achieve outstanding performance. The EFQM Award evaluates organizations based on a comprehensive framework that emphasizes continuous improvement, innovation, and