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MBA Semester I Spring 2018Q1. Explain the Definition and Importance of 'management'.
Answer: Management is all about making things smooth and efficient. It is also about achieving our goals which in modern management literature we call ‘effectiveness’...
Q1. Define communication. What are the characteristics of communication?
Answer: Communication in simple terms is a transfer of information between people, resulting in common understanding between them ...
Q1. According to the definition of Statistics given by Croxton and Cowden, what are the four components of Statistics?
Answer: According to Croxton and Cowden, “Statistics is the science of collection, presentation, analysis and interpretation of numerical data from logical analysis”...
Q1. Following information obtained from a manufacturing company:
Direct Material – 450000
Office Expenses – 120000
Factory Expenses – 90000
Total Sales – 650000
Prime Cost – 450000
25% of the output is in stock
Calculate: (a) Direct Expenses (b) Factory Cost (c) Cost of Production(d) Cost of Sale (e)Profit
Answer: Direct Materials 4,50,000 Direct Expenses (Prime cost minus direct materials. It is assumed that there are no raw materials in stock.) 0 Q1. Define Demand Forecasting. Elucidate the determinants of supply.
Answer: Demand forecasting seeks to investigate and measure the forces that determine sales for existing and new products. ..
Q1. Discuss – HR forecasting techniques with example.
Answer: Human resource forecasting is the process of determining or predicting the needs of the company by means of data and models...
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