Anleihen und Währungen Brace für BoE und Fed Rate Wanderungen Seine Annäherung an die Zeit des Jahres, wenn Händler und Zentralbanker gleichermaßen für lange Ferien zu verlassen. Aber in diesem Sommer ist die Gestaltung bis alles andere als ruhig für Märkte, mit Wetten auf einen griechischen Ausstieg aus dem Euro roiling Märkte, und Red-Chip-Aktien in China Nase Tauchen und erfordern beispiellose Plunge Protection Team Intervention, um den Angriff zu stoppen. Nach ein paar Wochen des Aufruhrs, wurde die griechische Schuldenkrise die Straße für ein paar Jahre, mit einer anderen EU-Rettungsaktion getreten, und nach dem Shanghai-Red-Chip-Index, inszenierte eine 10 Rebound aus seiner Panik Boden Tiefs Hit am 7. Juli, Händler sehen nun diese Seitenwände als fix und unter der Kontrolle ihrer zentralen Planer. Mit diesen Sorgen kann auf den Back-Brenner für jetzt, sein zurück zu Geschäft wie üblich gesetzt werden, das heißt, zurück zu investieren in stark manipulierten Märkten, in denen extreme Notfallpolitik, wie NIRP, ZIRP und QE verzerrt haben Die Preisbildung für praktisch alle Vermögenswerte, und wo Ihre lokale Zentralbank hat Ihren Rücken. Doch mit der Federal Reserve balanciert, um kurzfristige Zinsen zum ersten Mal in fast einem Jahrzehnt zu wandern, könnte die tatsächliche Erhöhung der Leitzinsen könnten weitere Schwankungen der Volatilität auslösen, aber meine beste Schätzung ist, dass die Normalisierung unserer Politik sollte bewältigen , Sagte der FEDS Schatten-Chef Stanley am 26. Mai. Fischer gab keinen Zeitrahmen dafür, wann die Fed ihren ersten Verschärfungszyklus seit 2004/06 starten wird, aber er machte deutlich, dass höhere Raten kommen. Dennoch, warnt er, kann Kommunikation ein heikles Geschäft sein, und wenn die Fed verschärft, sind die politischen Entscheidungsträger für Spillovers für die Finanzmärkte im In-und Ausland. Einige der anfälligsten Volkswirtschaften der Welt können den Weg zur Normalisierung etwas bumpier finden, fügte er hinzu. Die zentrale Frage über die Märkte im Allgemeinen ist, ob die Federal Reserve und ihre Anglo-Kandidatin, die Bank of England ltBoEgt, in den kommenden Monaten anfangen wird, ihre kurzfristigen Zinsen zu wandern. Am 28. Juni forderte die Bank für Internationalen Zahlungsausgleich, ltBISgt, mit Sitz in Basel, Schweiz, die als Berater für globale Zentralbanken gilt, die weltweit führenden Zentralbanken auf, die Geldpolitik zu normalisieren - entweder durch Anhebung der Zinssätze oder durch Stillegung Die Druckmaschinen unter dem Deckmantel von Quantitative Easing, ltQEgt, und je eher desto besser. Indem die Zinsen auf diesen historischen, extrem niedrigen Ebenen verankert sind, drohen ernsthafte Schäden am Finanzsystem zu verursachen und die Marktvolatilität zu verschärfen sowie die Reaktion der politischen Entscheidungsträger auf die nächste Rezession zu beschränken, warnte die BIS. Die Risikobereitschaft an den Finanzmärkten hat zu lange gedauert. Und die Illusion, dass die Märkte hochflüssig bleiben werden, ist zu weit verbreitet. Die Wahrscheinlichkeit von Turbulenzen wird weiter steigen, wenn aktuelle außergewöhnliche Rahmenbedingungen ausgetragen werden. Je mehr man ein elastisches Band ausstreckt, desto heftiger reißt es sich zurück (wie die jüngsten Erfahrungen in den chinesischen Aktienmärkten), warnte Claudio Borio, Leiter des BIZ-Monetary and Economic Department. Billig Geld fördert mehr Schulden und schafft finanzielle Booms und Büsten, die dauerhafte Narben auf die Wirtschaft zu verlassen. Sie untermauern sowohl die potenziell schädlichen Risikosituationen auf den Finanzmärkten als auch die Risikobereitschaft in der Realwirtschaft, wo die Investitionen dringend benötigt werden. Und während Zinserhöhungen dazu führen könnten, dass die Aktienkurse fallen, - wird die Wahrscheinlichkeit von Turbulenzen nur durch Warten erhöht, warnte die BIS. Es empfiehlt, die Geldpolitik mit einer festen und stetigen Hand zu normalisieren. Fast Null Zinsen könnte chronisch in den Weltwirtschaftsnationen werden, es sei denn, eine feste Hand wird verwendet, um sie wieder auf normalere Ebenen zu heben. Mehr Gewicht sollte jetzt auf die Risiken der Normalisierung zu spät, und allzu allmählich, die BIS gewarnt werden. Die Wiederherstellung normaler Bedingungen wird auch für die nächste Rezession, die zweifellos an einem gewissen Punkt eintreten wird, wesentlich sein. Von welchem Gebrauch eine Gewehr mit keine Gewehrkugeln ließ den BIS Report sagte. Allerdings hat die BIZ in den letzten Jahren routinemäßig so scharfe Warnungen gemacht, und die großen Zentralbanken haben sie routinemäßig ignoriert. Tatsächlich engagieren sich die Bank of Japan ltBoJgt und die Europäische Zentralbank ltECBgt in einem umfassenden Währungskrieg über das Schicksal des Euro / Yen-Wechselkurses. Beide Zentralbanken drucken über 70 Milliarden Euro und Yen und überschwemmen die Märkte mit extrem billiger Liquidität, das hält die langfristigen Anleiherenditen künstlich niedrig und die Aktienmärkte künstlich hoch. Weder die BoJ noch die EZB haben irgendwelche Pläne, die QE-Liquiditätsspritzen jederzeit zurückzusetzen. US gewinnt die Reverse Beauty Contest Darüber hinaus wird die Geldpolitik der Big-4-Zentralbanken in Kürze weiter aus sync. Die Fed fing an, ihre 80-Milliarden pro Monat QE-3-Injektionen wieder im Januar 2014 zu verkleinern und schließlich mothballed es am 31. Oktober 2014. Die Bank of England verbrachte pound375 Milliarden auf den Kauf British Gilts und mothballed seine QE-Injektionen in 12 November Und nach den jüngsten Lecks an die Medien, sind sowohl die BoE und die Fed bereit, den Rat der BIS zu folgen, und wird die erste der G-7-Zentralbanken, um ihre kurzfristigen Zinsen zu wandern, in den kommenden Monaten . Auf der anderen Seite werden die globalen Märkte in einem Liquiditätsmeer schwimmen, wie die Bank of Japan ltBoJgt und die Europäische Zentralbank ltECBgt in dieser Woche bekräftigt haben, dass sie weiterhin einen kombinierten Wert von 140 Milliarden Euro und Yen fortsetzen werden In die Welten Geldmärkte im kommenden Jahr. Die BoJ setzt ihre QQE-Injektionen mit einer Rate von 5,5 Billionen pro Monat fort, und die EZB setzt ihre erste QE-1-Regelung mit einem Clip von 60 Milliarden Euro pro Monat bis zum Ende des 16. September fort, trotz der Opposition Aus Deutschlands Bundesbank. Zusammen mit den billigen vierjährigen Darlehen an Banken wird das EZB-System Qeuro-1 mehr als Euro 1,1 Billionen in die Geldmärkte injizieren. Währung Carry Trader Augen sind auf EZB-Chef Mario Draghi fixiert und der BoJ-Chef Haruhiko Kuroda, die die große Bazooka tragen. Ein schwächerer Euro und ein schwächerer japanischer Yen sind genau das, was EZB-Chef Mario Draghi und BoJ-Chef Haruhiko Kuroda wollen. Es macht lokale Exporte in andere Währungsräume billiger, wodurch die Wettbewerbsfähigkeit der deutschen, französischen und japanischen Multinationalen erhöht wird. Gleichzeitig erhöht sich der Preis der Importe, wodurch die drohende Deflation zu Hause reduziert wird. Wenn der Euro und Yen im letzten Jahr nicht so drastisch gesunken waren, würden ihre Kosten pro Liter Diesel -20 weniger betragen als heute. In der Eurozone und in Japan sowie bei der BoE und der Fed, die die QE-Sucht getreten haben, startete der US-Index im Vergleich zum Vorjahr ein starkes Wachstum Korb von sechs Währungen, kletterte 20 höher als vor einem Jahr, und an einem Punkt erreicht die psychologische 100-Ebene, die höchste in 13 Jahren. Hinter dem Aufstieg stiegen die USA von rund yen101.50 auf so hoch wie yen125.50, während der Euro von so hoch wie 1.3650 auf so niedrig wie 1.0400 fiel. Mit der 1 und 2 Fed Beamten gehen auf Aufzeichnung, und darauf hinzuweisen, sie werden die Wünsche der BIS entsprechen, mit ein paar Baby-Schritt-Rate Wanderungen in den kommenden Monaten ist der US-Index bequem in der Zone mit Unterstützung bei der 94 thront - Level und Widerstand im 100-Bereich. Unterdessen kauft 1- britisches Pfund jetzt euro1.434 - sein höchster Wechselkurs in 7-frac12 Jahren. Das ist 24 mehr als der Euro1.1350 das Pfund konnte dieses Mal vor zwei Jahren zu holen. Wenn die EZB beendet ihre QE-Programm bis zum 16. September geplanten Ende, könnte das obere Ziel für das Pfund Euro1,50 werden. Stärkere USA zerschlagen Rohstoffe Während die USA eine außerordentliche Stärke zeigten und für die 100-Level-Grenze erreichten, nahmen die meisten an internationalen Börsen gehandelten Rohstoffe Schläge: Edelmetalle, Industriemetalle, Getreide, Softs, nennen Sie es Hit. Im Großen und Ganzen war dies ein Fall einer stärkeren US-Dampfwalze auf den Rohstoffmärkten. Und es war auch eine Frage des Überangebots von Rohöl aufgrund der Rekord-US-Schiefer Ölproduktion und eine deutliche Verlangsamung der chinesischen Wirtschaft. Nach fast einem Jahrzehnt des Wachstums bei etwa 10 / Jahr hat sich die chinesische Wirtschaft auf 7 pro Jahr nach offiziellen Statistiken verlangsamt, und viele private Ökonomen schätzen Chinas Wirtschaftswachstum hat sich auf 5 bis 6 jährlich verlangsamt, die langsamste Rate seit 1990. China buchstäblich Requisiten für die meisten der Rohstoffe, die über die hohe See verschickt werden, aber vor allem Eisenerz, Kokerei und thermische Kohle, Naturkautschuk, Stahl und Kupfer, die die Boom-Jahre, die als Rohstoff-Super-Zyklus bekannt waren . Von den Industriemetallen über Erdgas, Getreide bis hin zu Baumwolle, Zucker und Rohöl fielen die Preise stark zurück. Am 15. März fiel der Continuous Commodity Index, ein Korb mit 17 gleichermaßen gewichteten Rohstoffen, nahezu auf das Niveau von 400 und handelte -27 niedriger als im Vorjahr. Zu verschiedenen Zeiten im ersten Quartal des Jahres 2015 war der Goldpreis auf 1,140 / oz gesunken und handelte -15 niedriger als im Vorjahreszeitraum, Silber war -27, Kupfer war aus -27 und Eisenerz stürzte auf Ein 5-Jahres-Tief bei 47 / Tonne und -60 niedriger als ein Jahr zuvor. Wenige wurden so hart wie Rohölpreise, mit Nordsee Brent Schleudern auf so niedrig wie 46 / Barrel oder -56 niedriger als ein Jahr zuvor. Der Schmerz war in anderen Rohstoffsektoren zu spüren. Kaffee fiel auf so niedrig wie 1,28 / Pfund, oder -33 niedriger, und Sugar bekam schlug bis 12 / Pfund oder -36 niedriger als im Vorjahr. Corn fiel auf 3,70 / Bushel, oder -24 niedriger, und Sojabohnen fielen unter 10 / bushel, oder -30 niedriger als ein Jahr zuvor. Aber das war nur ein Teil der Geschichte. Die Verluste waren sogar noch größer, wenn man den gesamten Rückgang der meisten dieser Rohstoffklassen erlitt, die unter ihren Spitzen litten, die in der Regel im Frühjahr 2011 erreicht wurden. Im Gegenzug war die 4-jährige Bärenrutsche über den Rohstoffsektor, vor allem der Crash in Crude Oil Von den Händlern an den längerfristigen Anleihemärkten. Die Rendite der US-Treasurys-Benchmark-10-Jahres-T-Note fiel auf unter 2 und schlug am letzten Tag im Januar auf 1,65. Britains 10-jährige Gilt-Ertrag stürzte auf ein historisches Tief von 1,50, und Deutschlands 10-jährige Bund-Rendite fast fiel auf Null Prozent, ein paar Monate später. Bis Mitte April war eine erstaunliche 53 aller G-7 Staatsschulden ergab 1 oder weniger. Der drastische Rückgang der Energiepreise drückte die Verbraucherpreise der Eurozone auf ein Niveau, das zuletzt während der globalen Finanzkrise gesehen wurde. Nur winzige Malta und Österreich entkamen der Deflation. Im Jahresdurchschnitt waren die Preise in den 19 Ländern, die den Euro verwendeten, um -0,6 niedriger als im Vorjahresmonat. Deflation war am tiefsten in Griechenland im Januar, gefolgt von Spanien, während fast alle Länder der Eurozone negative Inflationsraten hatten. So begann die EZB ihre Qeuro-1-Regelung, und im Vorgriff auf QE-1 hatten viele Anleihenhändler die EZB in Front gehabt - und hatten eine beeindruckende Euro2,2-Billionen-Euro-Banknote auf unter Null Prozent getrieben Und französische Notizen). Bis zum 15. April waren alle Schulden in Deutschland mit einer Laufzeit von 7,5 Jahren oder weniger weniger als Null Prozent. Zersplitterung der globalen Bond-Blase, startet in Deutschland Am 29. April begannen die Mystery-Verkäufer, die deutschen zehnjährigen Bund-Futures zu entleeren, und am Ende des Tages hatte der Wert des gesamten Euro-Anleihemarktes Euro55-Mrd. verloren (76 Milliarde) an einem einzigen Tag. Es war der Beginn einer Revolte der Anleihenhändler gegen negative Zinsen in Europa. In den Augen des Sturms war Bill Gross der Anleihe-Guru, - er traf einen rohen Nerv, der die QE-Frontkämpfer rasselte, indem er so weit ging, den 10-jährigen Benchmark-Bundestrakt den Short of a Lifetime in einem Tweet an zu nennen 30. April. Double-Line-Hauptstädte Jeffrey Gundlach sprang an Bord, sagte, er würde Hebel bis zu 100 Mal und eine bärische Wette gegen deutsche Bunds. Später an diesem Tag erlebte Deutschland eine Fehlgeschlagene Auktion, nur noch 3,65 Mrd. Euro bei der fünfjährigen Auktion mit einem Umsatz von 4 Mrd. Euro. Zum Versorgungsdruck setzte Italien 8,25 Milliarden Euro Schulden ein, während Portugal Euro2,5 Milliarden von 10- und 30-jährigen Anleihen über Banken verkaufte. Wie das Schicksal ausmacht, waren die bärischen Ausführungen von Herrn Gross und Gundlach nur einige der Auslöser, die einen Minirout im deutschen Bundmarkt entzündeten. Eine unverwüstliche 20 / Barrel-Erholung bei den Rohölpreisen war auch ein Schlüsselfaktor, der es den Bund-Vigilanten ermöglichte, einen plötzlichen und scharfen Verkauf in hochverzinslichen Anleihen mit niedrigen Renditen in Frankfurt zu verzeichnen und die Ripple-Effekte in der Anleihe zu spüren Märkte von England, Australien, Kanada, Korea und den USA. Im Epizentrum der schnellen Rendite in den Anleihenkursen lag der zehnjährige deutsche Bund - in nur fünf Tagen mehr als vervierfacht auf 0,60 und löschte alle Kursgewinne aus diesem Jahr. Anleger in längerfristigen 30-jährigen deutschen Bundesanleihen erlitten größere Verluste von -20 aus den Blasenspitzenhöhen, da der Renditeanteil 100-bp höher lag als auf 1,40 und signalisierte die Weitergabe des Deflationsschreckens. Spezifische Trigger für den Abschwung im Mai sind schwer zu identifizieren, aber das plötzliche Auftauchen von Reflation Handel in Anleihen spiegelt teilweise die Vorstellung, dass die EZB-QE-1-System begann zu arbeiten, viel schneller als selbst Optimisten Hoffnung wagte. Nicht nur haben die Euro-Inflationsraten den Vertragsabschluss gestoppt, aber die Kreditvergabe des privaten Sektors expandiert erstmals seit Jahren wieder, das Euro-M3-Geldmengenwachstum hat sich positiv entwickelt. Fed sagt auf Kurs zu Fed Funds Rate in diesem Jahr wachsen Die Märkte Aufmerksamkeit jetzt dreht sich quadratisch auf die Fed und die Bank von England, die beiden Zentralbanken, die erwartet werden, um die BIS Worte des Rates zu folgen, durch Anstoßen kurzfristige Zinsen in der Monate voraus. Am 17. Juni veröffentlichte die Fed ihren Vorwärtsberichtsbericht mit dem Titel "Dots Plot", der darauf hindeutet, dass die US-amerikanische Futures-Rate nun bei 0,125 am Ende des Jahres 2015 bei 0,625 und bei längeren Laufzeiten bei 3,75 liegt. Der Dot-Plot-Graph ist im Wesentlichen eine Zusammenstellung der Zinssatzschätzungen der Feds-Top-17-Beamten, wobei jeder Punkt einen Prognostiker repräsentiert. Fünfzehn der 17 prognostizieren eine Zinserhöhung vor Jahresende, aber keine der Fed-Politiker erwarten, dass die Fed-Funds Rate, um die 1 Marke zu treffen. Nach einer Bloomberg-Umfrage von 51 Ökonomen, würde die erste Fed Rate Wanderung im September stattfinden. Schon jetzt hat sich die Rendite der 10-jährigen T-Note in den USA um soviel wie 85-Basispunkte auf bis zu 2,50 erhöht, wo sie vorübergehend Widerstand gefunden hat. Die Chancen liegen bei 50-50, dass die US-Wirtschaft genug verbessern wird, damit die Fed die Zinsen im September erhöhen kann, sagte Fed-Gouverneur Jerome Powell am 23. Juni, der auch erwartet, dass die Fed im Dezember wieder steigen wird. Und doch, nach der Wetten auf die Federal Funds Futures-Märkte in Chicago, Händler erwarten nicht, um eine Fed Rate Wanderung im September zu sehen, und der früheste Zeitpunkt für eine Zinserhöhung ist November oder Dezember, und es wäre auf 12,5-Basispunkte beschränkt werden Bis 0,25. Es gibt eine 50 Chance einer 25-BPS-Fed-Zinserhöhung auf 0,375 nach Jahren Ende, nach Futures-Händler, oder ein Viertel-Punkt weniger als die Dots-Plot-Projektion. Auf einer Sitzung der Zentralbanker an der Englands Oxford University, dem Feds Shadow Chef, wiederholte Stanley Fischer seine Warnung über die erste Rate Wanderung des Feuers in neun Jahren. Er sprach nicht direkt an den Zeitpunkt des historischen Ereignisses, betonte aber, dass die Zentralbank vor der (Inflations-) Kurve bleiben sollte, da die Geldpolitik die Wirtschaft nur zeitlich verzögert. Wir sollten nicht warten, bis wir unsere Ziele erreicht haben, um die Anpassung der Politik zu beginnen. Um die Wahrscheinlichkeit von Überraschungen zu minimieren und damit nicht unnötige Markt - und politische Volatilität zu vermeiden, streben wir an, unsere Strategie klar und transparent zu kommunizieren, so Fischer. Am 15. Juli wiederholte Fed-Chef Janet Yellen für ein drittes Mal, dass die wirtschaftlichen Rahmenbedingungen eine Wanderung in der Bundes-Fonds-Rate spät in diesem Jahr, während ihrer halbjährlichen politischen Bericht an den Kongress, Yellen sagte Zeichen der wirtschaftlichen Trägheit im ersten Quartal waren die Vorübergehende Faktoren, einschließlich ungewöhnlich starkes Winterwetter und Arbeitsunterbrechungen an den Häfen der Westküste. Allerdings, wenn die Wirtschaft entwickelt, wie wir erwarten, würden die wirtschaftlichen Rahmenbedingungen wahrscheinlich machen es an einem gewissen Punkt in diesem Jahr zur Anhebung der föderalen Funds Rate Ziel, damit beginnen, die Haltung der Geldpolitik normalisieren, sagte sie. Als wollte sie ihre Warnung betonen, fügte Yellen hinzu: Wenn wir länger warten, um die Zinsen zu erhöhen, könnte es sicherlich bedeuten, dass wir, wenn wir anfangen, die Zinsen zu erhöhen, dies möglicherweise schneller tun müssen. So theres ein Vorteil zum Anfang ein wenig früher, damit wir einen schrittweisen Weg der Ratezunahmen haben konnten, erklärte sie. Das Risiko, zu lange auf die Zinserhöhungen zu warten, in den US-Märkten, bezieht sich auf das Risiko, an den US-Aktienmärkten nicht nachhaltige Blasen zu sehen. Der St Louis Fed-Chef James Bullard warnte, dass eine anhaltende konditionierende Haltung ein Rezept für Vermögenspreisblasen und viel Unfug sei, sagte er zu Bloomberg Radio. Vermögenspreisblasen sind in den letzten 15 Jahren ein verheerender Faktor für die US-Wirtschaft gewesen. Bullards Base Case ist für eine Rate erhöhen in diesem Jahr. Wir müssen gehen, sobald wir die Gelegenheit haben, loszukommen, sagte Bullard. Die Wirtschaft wird wieder normal, aber Politik ist immer noch auf eine Notlage. Das Problem ist jedoch, die dovish Yellen / Bernanke Fed hat so viel Glaubwürdigkeit verloren, dass niemand glaubt ihnen, auch wenn sie die Wahrheit sprechen. Bank of England Chief Signale wandern in Base Rate Vielleicht das klarste Signal, dass die Fed nicht bluffen über die Erhöhung der Federal Funds Rate später in diesem Jahr waren überraschende Kommentare von der Bank of England Chef Mark Carney, an die Medien am 14. Juli weitergeleitet. Carney, sagte der Zeitplan für die BoEs erstklassige Wanderung bewegt sich näher, obwohl die neuesten Chargen der Daten zeigte, dass die britische Inflationsrate bei Null Prozent und die Reihen der Arbeitslosen hatte unerwartet in den drei Monaten bis Mai, Ersten Anstieg in mehr als zwei Jahren. Wie die Fed hat die BoE ihre Basis-Kreditzinsen seit mehr als sechs Jahren auf einem Rekordtief (0,50) gehalten, aber jetzt scheinen die beiden Zentralbanken im Lockstep zu wandern und den Ruf der BIS zu verfolgen, um sie zu wandern Zinsen in den kommenden Monaten. Im Gespräch mit britischen Gesetzgebern am 14. Juli. Carney sagte, dass Haushalte anfangen sollten, sich für höhere Anleihekosten vorzubereiten. Der Punkt, an dem die Zinsen anfangen zu steigen, bewegt sich mit der Performance der Wirtschaft näher, sagte er den Parlamente Treasury Committee. Carneys hawkish Kommentare waren eindeutig unerwartet und fing den Devisenmarkt off-guard. Carney wies auf die Stärke der Erholung - das Vereinigte Königreich war die am schnellsten wachsende große Wirtschaft in der entwickelten Welt im vergangenen Jahr - sowie Rekordniveau der Beschäftigung und steigende Löhne. Aber er sagte, daß irgendwelche Zunahmen der Zinssätze wahrscheinlich in einem schrittweisen Tempo und zu einem begrenzten Grad mit Raten bleiben werden, die unter dem 5 Niveau bleiben, das normalerweise in den Verschärfungszyklen vor der Finanzkrise gesehen wird. Ich denke, es gibt eine Vielzahl von Faktoren, die bedeuten, dass die neue normale, sicherlich in den nächsten drei Jahren ist wesentlich niedriger als es vorher war, sagte Carney. David Miles sagte, dass der Fall für die Wanderzinsen stärker sei als seit dem Beitritt zur Bank im Jahr 2009, die Möglichkeit, dass die Augusts-Sitzung eine enge Abstimmung zwischen den neun BoE haben könnte Setzer. Fellow BoE Mitglied Martin Weale hat auch vorgeschlagen, er wird stimmen, um die Preise schnell erhöhen. Miles sagte zu lange warten, um eine sanfte Amble zu höheren Zinsen zu starten wäre ein schlechter Fehler, während betont, dass scharfe Anstieg der Kreditaufnahme Kosten sollten vermieden werden. Angesichts der Tatsache, dass viele der Nachwirkungen des Chaos 2008 scheinen verblasst zu sein, glaube ich, dass ein erster Anstieg der Bank Rate bald wahrscheinlich ist. Ich lege kein großes Gewicht auf die Idee, dass der Beginn dieses Prozesses große Risiken schaffen wird, um in ein sehr schwaches Wachstum zurückzufallen, in eine negative Inflation zu fallen und ein plötzliches Risikovermeidungsverhalten hervorzubringen, fügte er hinzu. In London nehmen Pfund Sterling-Libor-Futures-Händler die hawkische Rhetorik im Schritt und sind eher selbstzufrieden, indem sie in der Wahrscheinlichkeit einer Mini-Serie von Baby-Schritt-Zinserhöhungen spät in diesem Jahr festsetzen. Der BoE dürfte im September seine Basisrate um 12,5-bps auf 0,625 steigern und um weitere 12,5-bps auf 0,75 im 15. Dezember. Die Rendite des 10-jährigen britischen Gilt hat sich bereits im Bereich zwischen 1,95 und 2,20 € erholt 60-bps von der Ebene, wo es Anfang April gehandelt. Damit wurde eine Halbierung des BoEs-Basiszinssatzes auf 1 bereits im Gilt-Markt vollständig abgezinst. Heutzutage setzt die BoE mehr Gewicht auf Arbeitnehmererträge, die für die BoEs von zentraler Bedeutung sind, wenn man darüber nachdenkt, wann die Zinsen anzuheben sind. Der durchschnittliche wöchentliche Gesamtgewinn in den drei Monaten bis Mai einschließlich der Boni stieg im Vergleich zum Vorjahreszeitraum gegenüber dem Vorjahreszeitraum von 2,7 auf 2,7 an. Es war der größte Anstieg der Gesamtbezüge über einen Zeitraum von drei Monaten seit April 2010, sagte der ONS. Exklusive Boni stieg der Lohn um 2,8, der größte Anstieg in mehr als sechs Jahren. Andere Gründe, dass der britische Treasury Chef könnte die BoE die politischen grünen Licht zu beginnen Aufhebung seiner Basis Kreditzinsen, umfasst einen gesunden Wohnungsmarkt, der sich auf alle Bereiche des Vereinigten Königreichs. Der Rat der Hypothekenbanken, der Großbanken und Bausparkassen repräsentiert, sagte, dass die Brutto-Hypothekendarlehen im Juni im Vergleich zum Mai auf ein geschätztes Pfund von 20,5 Milliarden - das höchste Niveau seit Juli 2008 - im Vergleich zum Mai gestiegen sind Jahr. Auch der durchschnittliche britische Immobilienwert sitzt jetzt bei pound274,000, entsprechend dem Amt für nationale Statistiken, das pound57,000 höher als die Spitze ist, die im Mai 2008 kurz vor dem Abschwung gesehen wird, der während der Finanzkrise begann. National, UK Häuser Preise waren 5,7 höher im Mai als ein Jahr zuvor. Die Wohnungspreise in Nordirland wuchsen im letzten Jahr mit dem doppelten Tempo von London. In London sagte Herr David Miles erneut, dass die Kosten für die Erhöhung des Zinsniveaus im Vereinigten Königreich besonders hoch sind, wo ein Großteil der Haushaltsschulden in Form von variabel verzinslichen Hypotheken besteht und viele Menschen kämpfen würden, um sich plötzlich und signifikant anzupassen Steigt in monatlichen Zahlungen. Angesichts dessen, glaube ich, ist ein erster Schritt in der Bank Rate bald richtig, schloss er. Im Gegenzug stieg das britische Pfund auf ein 7-frac12-Jahr-Hoch gegen den Euro diese Woche, nach hawkish Anmerkungen von Herrn Carney und von Miles. Nachdem die Woche bei Euro1.395 geöffnet hatte, stieg das Pfund auf Euro1.43 am 16. Juli, als die Rendite auf der britischen 1-jährigen T-Bill-Rate stieg auf 80-bps über Deutschlands 1-Jahres-Schatz-Rendite. Thats oben von einer 22-bps Verbreitung, die am 14. März gesehen wird, und kleine Verschiebungen der Zinsdifferentiale können größere Auswirkung auf Wechselkurse haben. Aber mit der Inflation weit unter dem BoEs 2-Ziel - offizielle Zahlen veröffentlichten gestern zeigte, dass es von 0,1 im Mai auf Null im Juni fiel - Skeptiker immer noch Zweifel der BoE wird kurzfristige Zinsen schnell wandern. Fed-Stellvertreter sieht 3,25 bis 4 Fed Funds Rate Sollte langfristig Bond Investoren fürchten die Aussicht auf eine straffere Fed Politik in den kommenden Monaten oder Jahren Wäre mit dem Zinssatz steigen, dann entlang, dann noch einen kleinen Sprung, warnte Fed Vice Chair Stanley Fischer Am 1. Juni. Fischer fügte hinzu, dass es irreführend für Investoren und Ökonomen zu viel Wert darauf legen, wenn die ursprüngliche Zinserhöhung wird viel umsichtiger wäre zu prüfen, wo die kurzfristige Rate wird in den nächsten Jahren sein. Fischer prognostiziert die Federal Funds Rate erreichen 3,25 bis 4 in den nächsten 3 bis 4 Jahren. Rückblickend auf die Geschichte vom März 2004 bis Juni 2006, - das letzte Mal, als sich die Fed zu einer Liquiditätsverschärfungskampagne verlagerte und die Fördersumme um insgesamt 425 Bps wanderte, gibt sie einen Einblick in das, was passieren könnte Mit 10-Jahres-T-Note Renditen im kommenden Jahr, wenn die Yellen Fed geht mit einer Mini-Rating-Wander-Kampagne. Herr Greenspan war an der Spitze der Fed das letzte Mal die Zentralbank rollte eine Reihe von Zinserhöhungen, beginnend im Juni 2004. Unter Greenspan, fuhr die Fed die Fed Funds Rate bei 14 aufeinander folgenden Sitzungen, um 25-bps jedes Mal, Von einem früheren 45-Jahres-Tief von 1 bis so hoch wie 4.50, bevor der Maestro im Feb 06 zurücktritt. Sein proteacutegeacute, Ben Bubbles Bernanke suchte, seine Inflationsbekämpfungsausweisungen zu schwingen, indem er die Feds Rate Wanderausflug 75-bps zu 5,25 in Juni 2006, - das letzte Mal, dass die Fed jemals die Fed Funds Rate wanderte. Allerdings beginnt die Geschichte eigentlich im Mai 2003, als Mr. Greenspan, den Spitznamen Maestro, den US-T-Note-Markt ansprach, als er darauf hinwies, dass die Fed sich bewegen könnte, die Fed-Funds-Rate auf Null Prozent zu senken und damit beginnen könnte, langfristige Anleihen zu kaufen, Um die Möglichkeit der US-Wirtschaft zu bekämpfen, in die Deflationsfalle zu fallen. So drohte Greenspan, Quantitative Easing ltQEgt während seiner Amtszeit zu entfesseln. Die Bedrohung durch QE sank die Rendite der 10-jährigen T-Note der USA von rund 4 im April 03 auf 3,10 im Juni 03. Sollte sich herausstellen, dass - aus Gründen, die wir nicht erwarten, aber das sind wir sicher Dass der Druck auf den kurzfristigen Märkten den Federal-Funds-Zinssatz um nahezu null sinken lässt, bedeutet dies nicht, dass die Fed bei der Frage der weiteren Lockerung nicht im Geschäft ist, warnte Greenspan am 21. Mai 2003. Obwohl die kurzfristigen Zinssätze bei 1,25 liegen, liegen die längerfristigen Zinssätze deutlich über denen. Wir haben - wenn nötig - die Möglichkeit, die Renditekurve auszugleichen und im Wesentlichen die langfristigen Zinsen zu senken. Die Fed würde dies durch den Kauf von Treasury-Wertpapieren mit längeren Laufzeiten und Festlegung einer Mütze auf ihre Renditen (dh QE) zu erreichen. Doch zwei Monate später, am 15. Juli 2003, im Zeugnis zu einem Congressional-Panel. Greenspan whipsawed T-Bond-Händler, indem er eine 180-Grad-Umkehrung, sagen die Fed würde nicht auf QE Resort. Die Fed steht bereit, eine hochkonditionierende Haltung der Politik so lange aufrechtzuerhalten, wie es notwendig ist, um eine befriedigende wirtschaftliche Leistung zu fördern, und hat erhebliche Raum, um die Senkung der Übernachtungssätze zu halten. Allerdings haben Fed-Mitglieder festgestellt, es ist höchst unwahrscheinlich, dass die Fed würde unkonventionelle Schritte wie Kauf Treasuries zu niedrigeren Marktzinsen nehmen müssen, sagte Greenspan. Sofort nach seinen Bemerkungen, die Benchmark 3.375 Treasury Note fällig im Mai 2013 stürzte 2-Punkte niedriger, wodurch der Ertrag bis 23-Basispunkte ltbpsgt auf 3,95. Die Anleiherenditen stiegen weiter an und bis Mitte August 2003 erreichte die 10-jährige T-Note-Rendite ein Hoch von 4,65 und weit über dem Zyklusniedrig von 3,10, nur zwei Monate zuvor - am 5. Juni 2003 Mai 2004, einen Monat, bevor die Fed ihre Zinserhöhung begann, war die Rendite der 10-jährigen Schatzanweisung bereits auf 4,95 gestiegen, war leichte Jahre vor der Zentralbank. Die Botschaft, die von der Fed kam, war das gleiche Skript, dass wir heute hören, dass die Zinsen zu niedrig für so lange Probleme verursachen könnten. Einige Mitglieder sind besorgt, dass die geldpolitische Stimulierung für so lange Zeit eine verstärkte Hebelwirkung (dh Kreditaufnahme) und eine übermäßige Risikobereitschaft (dh Bieten von Aktienkursen) fördern könnte. Solche Entwicklungen könnten das Potenzial für die Entstehung von finanzieller und wirtschaftlicher Instabilität (dh Blasen) steigern, wenn eine Verschärfung der Politik in der Zukunft erforderlich ist. Als die Greenspan-Fed im Juni 2004 ihre erste Baby-Schritt-Zinserhöhung auf 1,25 veranlasste, handelte die 10-jährige T-Note-Rendite um 4,65. Dennoch war die Rendite der zehnjährigen T-Note für die Fed-Beamten am stärksten verwirrend und überraschend, so dass sich die Rendite nach wie vor um -65-bps verringerte, auch wenn die Fed weiterhin die Fed-Funds-Rate auf 1,75 anstieg, Von Sept. 2004. Tatsächlich schwebte die 10-jährige T-Note-Rendite nach 15 schnellen Fed-Zinserhöhungen auf 4,75 noch um 4,65, wo die Fed die straffende Kampagne begann. Greenspan nannte diese Situation ein Rätsel, da die 10-jährige Rendite geringfügig um 4,65 geändert wurde, obwohl die Fed die Fed-Rate 350-bps höher gehoben hatte. Die wichtigste Lehre ist, dass die meisten der Zunahme der langfristigen Anleiherenditen, in Erwartung eines Verschärfungszyklus, bereits materialisiert hat, bevor die Fed sogar ihre erste Baby-Schritt-Rate Wanderung nimmt. Dieser Artikel ist nur der Tipp des Eisbergs, was im Global Money Trends-Newsletter zur Verfügung steht. (2) Rohstoffe wie Rohöl, Gold, Kupfer und unedle Metalle, (3) Fremdwährungen, wie z. B. (4) Zentralbankzinsen und globale Anleihemärkte, (5) Zentralbankinterventionstechniken (6) und wichtige Credit Default Swap-Märkte. GMT-Filter wichtige Nachrichten und Informationen in (1) bullet-Punkt, leicht verständliche Berichte, (2) mit Inter-Market Technical Analysis, mit vielen Charts, die die dynamische Wechselbeziehungen zwischen Fremdwährungen, Rohstoffe, Zinsen und die Aktienmärkte aus einem Dutzend Schlüsselländern auf der ganzen Welt, (3) Charts der wichtigsten Wirtschaftsstatistik der ausländischen Länder, die Märkte bewegen. Abonnenten können auch wöchentlich hören Audio-Broadcasts, am Montag und Mittwoch abends, mit den neuesten Nachrichten und Analysen auf den globalen Märkten. Um ein Abonnement für Global Money Trends zu bestellen, klicken Sie auf den Hyperlink unten oder rufen Sie uns kostenlos an, um von Sonntag bis Donnerstag, von 8.00 bis 21.00 Uhr und am Freitag von 8.00 bis 17.00 Uhr bei 888-808 zu bestellen -7978. Außerhalb der USA rufen Sie 561-391-8008pensating Balance Was ist ein Kompensationssaldo Eine Kompensationsbilanz ist ein Mindestguthaben, das auf einem Bankkonto geführt werden muss, und der Ausgleichsbetrag wird verwendet, um die Kosten zu senken, die einer Bank zur Gründung eines Unternehmens entstehen Darlehen. Der Ausgleichsbetrag ist nicht für die Gesellschaft verfügbar und muss in den Anhangangaben des Schuldners offengelegt werden. Die Bank ist frei, die Ausgleichsbilanz an andere Kreditnehmer zu leihen und von Differenzen zwischen den Zinssätzen zu profitieren. BREAKING DOWN Kompensieren der Balance Durch die Anforderung von Geld zur Hinterlegung einiger Kredite Kosten ist die Bank in der Lage, andere Kredite zu verlängern und verfolgen andere Investitionsmöglichkeiten, während das Unternehmen einen niedrigeren Zinssatz für ein Darlehen berechnet wird. Wie Ausgleichsguthaben offengelegt werden Rechnungslegungsvorschriften verlangen, dass der Ausgleichsbetrag gesondert aus dem Kassenbestand im Kreditnehmerabschluss ausgewiesen wird, wenn der Dollarbetrag des Ausgleichsbetrags wesentlich ist. Eine materielle Menge ist ein Dollar-Betrag groß genug, um die Meinung des Abschlussprüfers Leser auswirken. Factoring in Inventory Purchases Assume a clothing store needs a 100,000 line of credit (LOC) to manage its operating cash flow each month. The store plans on using the LOC to make inventory purchases at the beginning of the month, and then pay down the balance as the store generates sales. The bank agrees to charge a lower interest rate on the LOC if the clothing store deposits a 30,000 compensating balance. The bank loans the clothing stores compensating balance to other borrowers, and profits on the difference between the interest earned and the lower rate of interest paid to the clothing store. Examples of Cash Management Once the LOC is in place, the clothing store needs to manage cash flow so the business can minimize the interest expense paid on the LOC borrowings. Assume, for example, the interest rate on the LOC is an annual rate of 6 and the store starts the month with a 20,000 cash balance. The store estimates sales for the month to be 50,000, and 40,000 in inventory needs to be purchased to meet customer demand. Since the store needs the 20,000 cash balance for other expenses, the owner borrows 40,000 from the LOC to purchase inventory. Nearly all customers pay in cash or with a credit card, so the store collects cash quickly, and the LOC is paid off in the last week of the month. The store incurs an interest expense at a 6 annual rate on the 40,000, and the owner continues to borrow from the LOC at the beginning of each month to purchase inventory. Tag Archives: MBA Winter drive 2013 Post navigation MB 0044 8211 PRODUCTION AND OPERATION MANAGEMENT 1. What is value engineering List the main benefits of value engineering A Definition and explanation of Value Engineering(VE) Definition Example/s Where is it used Why is it used How is it helps the organisation Listing of the main benefits(any four): Cost reduction Overall cost consciousness Culture of effecting savings across organisations Streamlining of administration Development of reliable suppliers 2. Case study: SABMiller revamps supply chain management SABMilller, the 24bn global brewing giant, is revamping its supply chain management system to reduce stock-outs caused by an increasingly complex and hard to predict market. The firm is developing and testing the new system in South Africa with an eye on rolling it out to group companies worldwide, says SABMiller programme manager Rudi van Schoor. The trigger for the revamp came when the company8217s customers ran out of stocks of popular SABMiller brands during peak periods in two consecutive years, 2007 and 2008. The shortfall on some brands was as high as 22. 8220That had a direct impact on the bottom line,8221 Van Schoor says. Given SABMiller8217s ambition to be the world8217s most efficient producer, such a gap was never going to be tolerated. But instead of addressing the symptom, it called in management consultancy McKinsey to look at the entire supply chain system to see where it could be improved and future stock-outs avoided. The study revealed a complex situation, one that wasn8217t susceptible to a 8220quick fix8221, Van Schoor The ethnically and demographically diverse South African market is one of the world8217s most complex and fast-changing. Van Schoor cites economic growth, more disposable income in new hands, changing and upgrading tastes, new product development and new routes to market among the factors that influence demand for SABMiller8217s products. Add to that big events such as the British Lions tour and the 2010 World Cup, and climate change, and the picture becomes more complex. 8220Our brands are the same as any other brand, especially those at the luxury end,8221 says Van Schoor. 8220If the customer comes into the shop and can8217t find our product, he or she has the disposable income and self-confidence to substitute our brand for our competitors8217. That8217s dangerous.8221 Van Scoor says the group has a average stock availability target of 98. 8220But for some premium brands the target is 100,8221 he says. That means it will live with excess stocks of some products, just to ensure that a thirsty customer can get his or her favourite drink, every time. But SABMiller also wants to maxmise its profitability. To do all this it must integrate information from a lot of sources. These include sales forecasts for about 2,600 SKU locations or depots for the brewing division and 3,100 for the soft drinks division, as well as planned promotions data from the marketing and promotions division, as well as cost and production data, among others. These data must then be converted into raw material purchases, manufacturing scheduling, distribution and stockholding plans for 12 factories (seven breweries and five soft drink plants) and three tiers of distributors, broken down into between 70 and 80 stock-keeping units (skus) for the brewing division and around 270 for soft drinks. And all this must be optimised for profit. 8220There is inherent volatilty of demand in the soft drinks business because of seasonal change, but less in the beer market,8221 Van Schoor says. Even so, improving the accuracy of demand forecasts and schedules and integrating them to boost profitability was too complex for SABMillers8217s demand forecast and supply system. The inhouse system, developed over years, had most of the usual problems associated with legacy systems: it was inflexible, complex, hard to communicate with, and hard to integrate with newer systems, Van Schoor says. Integration with SAP system After a global search, SABMiller settled on Infor8217s advanced supply chain management system, in particular Infor8217s demand forecasting system. This takes information from modules of SABMiller8217s SAP enterprise resource management system, integrates them with sales forecasts from the field, and feeds back to the manufacturing resource planning system and financial systems to generate production schedules, raw materials orders and volume and financial forecasts. This will let SABMiller make any of its products in the most cost-effective location, given the local demand, manufacturing, transport and inventory costs. It will also increase its flexibility in responding to changes in demand. Products will no longer be made only in a single plant to optimise production runs, but, based on more holistic data, in the plants that optimise overall profitability. This flexibility also gives the company greater cover to handle factory downtime and to meet rapid changes in demand. But some parts of the legacy system will still be around. 8220We are keeping it to manage the return and reuse of empty bottles,8221 Van Schoor says. But even that data will go into the Infor system so that it can create production schedules down to tank, line and minute accuracy. This attention to detail is part of the SABMiller ethos. Measurement and numbers are integral to the company culture. Van Schoor says the Infor system will be tested in three ways: on its 8220theoretical8221 answers, against actual results, and against causal factors that may have influenced demand and supply. Van Schoor says the 1.2m the firm spent on Infor licences was about 60 of the total project cost. But this could be a drop in the ocean if the company adopts it worldwide. And interest from group firms is high. 8220We have used expertise from all around the group,8221 Van Schoor says. 8220One of the best people on the project came from our European division, and we have lots of others keen to know how we do.8221 Why did SABMilller revamp its supply chain Describe the domain application used for SCM integration Analysis of the major and minor issues for revamping the supply chain with evidence Description of the SAP system, why it was used and the benefits from using the system 3 Write short notes on: Ingredients of a business process Acceptance sampling Work Breakdown Structure Productivity Ingredients of a business process Acceptance sampling Work Breakdown Structure Productivity 4 Collaborative Forecasting Running Smoothly at Brooks Sports Brooks Sports designs and develops high-performance running footwear, apparel and accessories which are sold in 80 countries worldwide. In 2001, when the company shifted from a broad product line to focus on high-performance products targeted at serious runners, it was clear that the forecasting process needed to change to support the strategic direction of the company. The existing forecasting process, based entirely on the judgment of the sales team, was limiting the companys ability to grow. The strategy shift created a number of forecasting challenges for Brooks including: Inconsistent style growth: the new line of products experience growth rates anywhere from 0 to 50 percent annually. Long production planning horizon coupled with short product life: production and capacity decisions are typically made 18 months before a style is launched, average lead time for a style is 6 months and the product life of Brooks styles range from 6 to 24 months. This means that planners must sometimes set the entire demand plan for a style prior to ever receiving a customer order, underscoring the importance of accurate forecasts. Increasing at-once orders: at once orders, which are placed for immediate shipment, historically accounted for less than 20 percent of total sales. Since 2001, however, at once orders have increased to nearly 50 percent of total sales. Evolving size curves: with its new focus on serious runners, the standard footwear size curve would not adequately reflect distribution of sales by sizes. No exposure to retail sell-through: the high-performance products are sold primarily through independent specialty stores who dont have the capability to share sales data with vendors. With a corporate mandate from senior management emphasizing the importance of creating accurate and timely forecasts, Brooks completely revamped its forecasting process. An independent forecasting group, reporting directly to the COO and CFO, was established to coordinate input from various groupssales, marketing, product development and production and to remove bias from the forecasting process. The forecasting group established a collaborative forecasting process with three primary steps: Step 1: Produce monthly statistical forecasts at the SKU level to capture level, trend, seasonality and the impact of events based on historical data. Brooks chose Forecast Pro to create these forecasts due to a number of features available in the software: Ability to create accurate forecasts Flexibility to choose forecast models or let software automatically select models Capability to model events (particularly important for predicting spikes in demand with new product launches) Support for multiple-level models to produce consistent forecasts at all levels of aggregation Powerful override facility to enable collaborative forecasting Forecast Pro has been a great solution for Brooks, says Tom Ross, Financial Analyst. Implementing Forecast Pros event modeling is very simple, which is an essential feature for us because of our moving product launches. We also use event models to address the challenge of forecasting events that dont occur on a regular basissuch as raceswhich can have a dramatic impact on the sales of specific products. Another powerful feature of Forecast Pro is the ability to forecast a product hierarchy. This helps us to serve our multiple constituents within Brookswe review higher-level forecasts with management and easily generate detailed forecasts at the SKU level for demand planning. Step 2: On a quarterly basis, get sales management and sales reps to forecast sales for a 12- month horizon, focusing on major accounts. This input is gathered via the Web and then aggregated by the forecasting group. Step 3: Compare the statistical and judgmental forecasts, and make adjustments to create the final monthly forecast. Ninety percent of the final forecasts are the same as the statistical forecastschanges are most commonly made to the forecasts for new styles where the sales organization has important knowledge to add. These final forecasts are then automatically fed into Brooks ERP system. Forecast Pro allows us to easily apply judgmental overrides, which is critical for us, notes Ross. We now can systematically track changes, giving us a better understanding of our forecasting performance. The commitment to forecasting has paid off at Brooks. Forecast accuracy has improved on average by 40 percent, unfulfilled demand has been lowered from approximately 20 percent to less than 5 percent, and closeouts have been reduced by more than 60 percent. The improved forecasting has also helped to smooth out production, resulting in lowered costs and better margins. What is the main issue of the case study Analyse the forecasting solution Description of the main issue(forecasting process needed to change), forecasting Challenges Evaluation of the collaborative forecasting process Evaluation Conclusion on whether the solution could be improved or not 5. Explain the risk management and its various components A Definition of risk management and what it entails Description of the four components of risk management Risk assessment Risk control Risk prioritising Risk mitigation 6 Why redesign of layouts may be necessary List the differences between product and process layout. Listing of reasons why resdesigning of existing layout is required Listing of any five differences SEM 2 MBA WINTER 2014 MB0045- FINANCIAL MANAGEMENT 1 Capitalisation of a firm refers to the composition of its long term funds debt and equity. Discuss the theories of capitalization. Explain each theory of capitalisation 2 A) The share of Megha Ltd is sold at Rs 500 a share. The dividend likely to be declared by the company after one year is Rs 25 per share. Hence, the price after one year is expected to be Rs 550. What is the return at the end of the year on the basis of likely dividend and price per share B) A bond of face value of Rs 1000 and a maturity of 3 years pays 15 interest annually. What is the market price of the bond if YTM is also 15 . 3 Discuss the sources of capital of a company. Analyse the factors that affect the capital structure. b) Factors that affect the capital structure 4 A project costs Rs 50,000. It is expected to generate cash inflows as shown in table. If the risk free rate is 10, compute NPV. 5 a) Annual demand of a company is 30,000 units. The ordering cost per order is Rs 20 (fixed) along with a carrying cost og Rs 10 per unit per anum. The purchase cost per unit i. e. price per unit is Rs 32 per unit. Determine EOQ, total number of orders in a year and the time gap between two orders. b) total number of orders in a year and c) the time gap between two orders. 6 Discuss the dividend policy of Dabur India Ltd for the last three years. Analyse the dividend policy of Dabur India Ltd. For three years Comment on dividend policy 1 Planning is a process of designing the Blueprint for the future. In this context, explain Marketing Planning in detail. Explanation of Marketing plan Explanation of marketing planning process 2 Explain Henry Assael Model of buying decision behaviour along with the diagram. Explanation of Model. 3 Packaging includes all the actions that involve the development of a container and a graphic design for a product. In the light of the statement, explain packaging and labelling. Explanation of packaging considerations Explanation of Labelling Considerations 4 Explain Brand Extension and its kind. Explanation of brand extension 5 Logistics has always been a central and essential feature of all economic activities. In this context, explain logistics management and its major functions. 6 Write short notes on: a) Integrated Marketing Communication b) Direct Marketing a) Meaning and components b) Meaning and Advantages MB0047- MANAGEMENT INFORMATION SYSTEM 1 Professor A. Van Cauwenbergh of Antwerp University, in a paper presented at the Tenth Anniversary Conference of the European Institute for Advanced Studies in Management, presented four revisions to traditional Management Theory. In summary, the revisions are: (1) The initiative for the renewal and adjustment of the activities of a firm should come from the different levels in the management hierarchy. Strategy is not a privilege of top management. (2) Firms, especially big firms, are incoherent systems (goals of the different component systems are not simply subdivisions of an overall goal there are individual, conflicting goals as well). Some of these differences are manifestations of organizational initiative and vitality. Using information systems and central planning and rule-making to suppress all differences is destructive to organizations. (3) The most vital fluid of an enterprise is the aggregate of its entrepreneurial values. The most fundamental and motivation and control come through these shared values relative to work, quality, efficiency, etc. Management often neglects these values and assumes that the collection and dissemination of information will provide sufficient motivation and control. (4) Enterprises are open systems their structure and operating processes are determined by their environment. This means organizations must be designed to continually adjust to the environment. ein. If these revisions are correct, how is planning to be organized b. How should the information system support the planning organization A a. Explaining the organizational planning process with diagram b. Guidelines for planning MIS 2 Comparing MIS plan and Business Plan Explaining significant problem of the 2 Information Technology and Computers have brought information age. The spread of Internet amp relative ease of access made Information Breach easier. Our future is not secure, if our information is not secure. Information Resources need to be guarded, protected and controlled. List the precautionary measures to be considered to prevent cybercrime A Listing any 5 measures to prevent cyber crime 10 10 3 a. While implementing MIS in any organization change can occur in number of ways. List and explain the steps in the process as suggested by Lewins model. b. Compare between prototype approach and Life Cycle approach A a. Explaining the 3 steps of implementing the process suggested by Lewins model b. Comparison between the two approaches atleast two points 4 There is an information explosion in todays society. There are lot of advantages of DBMS like proper maintenance of the data and maintaining security. Explain the process of data transition using diagram and an example of your own. A Writing diagram, 2 Own example other than given in the SLM 3 10 Explaining the process 5 5 Write short note on a. World wide web b. Voice over IP A a. World Wide Web 2 b. Voice over IP 2 6 Artificial intelligent system functions like a human being and helps a manager in taking quick decisions. Explain the different applications AI using diagram. b. Applications of cognitive science 2 c. Applications of robotics 2 d. Applications of natural interface 2 e. Explaining each type with an example 2 1 Discuss the various stages involved in the methodology of Operations Research. Briefly explain the techniques and tools of Operations Research. Operations Research Methodology Techniques and tools of Operations Research 2 a. Explain the steps involved in linear programming problem formulation. Discuss in brief the advantages of linear programming. b. Alpha Limited produces amp sells two different products under the brand names black amp white. The profit per unit on these products in Rs. 50 amp Rs. 40 respectively. Both the products employ the same manufacturing process which has a fixed total capacity of 50,000 man-hours. As per the estimates of the marketing research department of Alpha Limited, there is a market demand for maximum 8,000 units of Black amp 10,000 units of white. Subject to the overall demand, the products can be sold in any possible combination. If it takes 3 hours to produce one unit of black amp 2 hours to produce one unit of white, formulate the model of linear programming. Steps involved in LPP Advantages of LPP Formulation of LPP 3 a. What is degeneracy in transportation problem How it can be resolved b. Solve the following transportation problem using Vogels approximation method. A description of risk pooling importance of risk pooling in SCM listing and summarization(along with suitable examples for each) of four types of risk pooling Lead time pooling 3 Read the following case study and answer the questions given the end of the case study Best Supplier Relationship Management: Jaguar Land Rover and Gobel amp Partner Jaguar Land Rover production line 8 October 2013 CIPS Supply Management Awards 2013 Jaguar Land Rover (JLR) transformed its position in customer satisfaction surveys and enhanced the quality of its products through an innovative partnership with a key supplier. By re-evaluating the way it deals with quality control and suppliers, Jaguar took top spot in the 2012 JD Power Survey for customer satisfaction and Land Rover raced up the chart. In 2008, the survey put Jaguar at nine and Land Rover at 34 for quality, described by JLR as clearly an unsatisfactory situation for a premium brand and stated that something had to change. Component quality was identified as the key issue for some suppliers the proportion of rejected parts was as high as 65 per cent and some finished vehicles were being put into containment due to faulty components. This had knock-on effects including delayed customer shipments, production line stoppages that cost 2,000 per minute and the risk that faulty parts could make their way into completed vehicles. At the time, JLR was working with 16 different suppliers across three factories to undertake parts rework and containment, resulting in differing quality regimes and an inability to share data across the company. As a result, there was no single view of any given suppliers quality history, which made preventative action impossible. A new director of quality was appointed who launched a review of quality across the supply chain that identified potential improvements that could be made to the inspection of incoming components from suppliers. The Inbound Materials Project was established and the 16 suppliers dealing with quality control were reduced to one Gobel amp Partner (GampP) who saw it as an opportunity to introduce innovations and boost investment in its Qtrak quality management system, which totals 2 million to date. This evolved into a partnership between JLR and GampP. Both realised that prevention was better than cure, and through Qtrak they could identify the component suppliers causing the most problems. Those with a recurrent history of reject parts were subject to a more rigorous inspection regime. GampPs aim is to ensure no faulty part ever arrives at JLR production facilities and they now work on the premises of high-risk suppliers to review quality processes. The firm is also working at JLRs new plant in China to ensure the right quality approach is in place from the beginning. Over six years, the relationship between the firms has evolved from a traditional adversarial situation, where GampP were treated as one of a number of commodity suppliers, to one where the two are working to the same goal of bringing premium quality to premium brands. Wolfram Leidtke, JLR board quality director, said: JLR is a premium brand and accordingly needs to have premium quality vehicles. Procurement has aligned with this objective. GampP has been able to transfer their global knowledge and work with JLR to develop a new approach to incoming material quality and the results are starting to speak for themselves. Illustrate the role quality played as criteria in JLR choosing its supplier Gobel amp Partner. Explain the importance of Gobel amp Partner in the supply chain(unit 6) A Students should illustrate based on: How critical is component quality to JLR What were the effects of bad quality What were the issues JLR had to tackle to working with 16 suppliers The steps taken by JLR to improve quality Importance of the supplier 4 MTR Foods, the Bangalore-based food processing company, is planning to utilise the services of a third party manufacturer for the first time. The contracted plant in Mathura for producing vermicelli is expected to give it a push in the northern and eastern markets where it is trying to expand its presence. The company is also planning a capacity expansion in spices. MTR has nine plants in Bommasandra Industrial Area in Bangalore which caters to its product categories like spices and masala, beverages, vermicelli and frozen food. The company has so far produced its brands inhouse. The plant in Mathura would help us supply to the north and eastern parts of the country. It would help us source wheat faster and also trim freight costs by 6-7 per cent, said Sanjay Sharma, chief executive officer, MTR Foods. Which according to you may then be distribution strategy used by MTR Justify your answer (unit 8) A Explanation on the facts fitting the strategy Identification of the strategy Rationale behind choosing the strategy 5 Explain any four direct benefits of outsourcing with examples. (unit 10) A any four of the following benefits(reason why this is a benefit. description of the benefit and example) Focusing on core competency Reducing the expenses of manufacturing and logistics services Reducing the head count of hourly employees and management Improving the accuracy Improving flexibility and wider range of services Getting access to global networks and better technology Reducing capital investment and increasing cash flow 6 Describe the supplier integration approach.(unit 12) Explanation of the stages of supplier integration with suitable examples OM 0013 ADVANCED PRODUCTION AND OPERATIONS MANAGEMENT 1 Write short notes on the following: Types of Operational Strategies Current Trends in Operations Management Types of benchmarking Automated assembly lines A Types of Operational Strategies Current Trends in Operations Management Types of benchmarking Automated assembly lines 2 Describe Computer-Aided Manufacturing(CAM) A Description of CAM including : Applications of CAM Benefits of CAM Problems of CAM 3 What are the different applications of Just In Time. A Listing of application Discussion on the application 4 Organization: Fortune solutions The market place for pharmaceutical companies is highly competitive. As a result there is a need for a flexible, accurate and responsive global planning process to support the key factors of rapid time to market, rapid response to demand changes, low costs. Each supply chain had developed its own Sales Operations planning (SOP) process making it difficult to combine and form a global view of demand and supply and to maximise sales opportunities. The requirement was to create a standard SOP process to be used at all the supply chains, incorporating company and industry best practice. The solution for this problem was developed as follows: A workshop analysed all SOP models used within the company and compared these with business requirements and best practice. As a result of combined SOP models, the organisation was able to develop a best fit SOP model that could be rolled out across the company. The workshop produced a detailed documentation which described about inputs, meeting agendas and attendees, outputs, key performance indicators for each stage of the process. A simulation of the full SOP model was developed that enabled final design improvements to be made and training of process participants and key stakeholders. This allowed a successful implementation plan to be developed. Upon implementing, the process was tried on trial run for a period of 4 months to facilitate fine tuning. The resulting SOP model was then rolled out across the company to achieve full benefits. The rapid implementation of a standardised SOP process gave immediate benefits to the fortune solutions in terms of: Increased customer service level and superior product availability. Reduced costs from higher resource utilisation, reduced waste. Improved cash flow due to optimized inventory and improved schedule adherence. Give the reason for developing a standardized SOP process. How was the solution developed. What are the benefits of a standardized SOP process A Reasons for developing a standardized Description of the development of the solution 5 What is new product development Explain the impact of internet on new product development. A Definition of new product development, how is it driven Description of the impact of internet on new product development (how it is freeing developers to generate ideas, example/s) 6 Write short notes on the following: A V4L Principles SEM 3 HR WINTER 2013 MU0010 MANPOWER PLANNING amp RESOURCING 1 What do you mean by Manpower Planning Describe the various stages amp obstacles involved in Manpower Planning. Definition of Manpower Planning Explain the various stages involved in Manpower Planning Explain the obstacles in Manpower Planning 2 Define Resourcing Strategy. Explain the components of Resourcing Strategy. Definition of Resourcing Strategy Explanation of all the components of Resourcing Strategy 3 Explain the Selection process undertaken by an organization. Listing out the steps in selection process Explanation of the steps in the selection process 4 Define Career Planning Process. Describe the various factors involved in Career Definition of Career Planning Process Explanation of the various factors involved in career planning process 5 As an HR, you are asked to focus on the Talent Development Process in your organization. How would you define Talent Development Explain the necessity of Talent Development from an HR perspective. Explain the model for achieving excellence in Talent Development Definition of Talent Development Explain the necessity of Talent Development Factors responsible for achieving Talent Development 3 6 What are the key HR elements practiced by HR managers in decision making Explain any five of them Explanation of any five key HR elements in decision making MU0011 Management and Organizational Development 1 Define Organizational Development (OD).What are the characteristics of OD Definition of Organizational Development Explain the characteristics of OD 2 As an HR, you find that the OD professional in your organization is not competent enough. What are the competencies you will consider in a good OD professional Explain any ten competencies required for OD professional 3 What are the characteristics of OD intervention Explain the Six Box Model in OD. Describing the characteristics of OD intervention Explaining the Six Box Model in OD 4 What is Performance Appraisal What are the purposes and characteristics of Performance Appraisal Describe the steps in Performance Appraisal System. Definition of Performance Appraisal Describing the purposes of Performance Appraisal Describing the characteristics of Performance Appraisal Explanation of the steps in Performance Appraisal System 5 Describe the impact of Technology in Organizational Development (OD).What are the benefits of using Technology in the field of OD Analyzing the impact of Technology in OD Explaining the benefits of using Technology in OD 6 Write short notes : a) Senges Approach b)Nonaka And Takeuchis Approach Explanation of Senges Approach Explanation of Nonaka and Takeuchis Approach MU0012 Employee Relations Management 1 Employees are the most important resource for any company. What do you mean by Employee Relations Management Explain the different Employee Relations Management Tools applied in organizations Definition of Employee Relations Management Explaining the Employee Relations Management Tools 2 As an HR of a Company, you are asked to focus on the causes of Grievance and the Grievance handling procedure. What according to you are the reasons of Grievance Explain the pre-requisites you will consider while addressing Grievance handling procedure Explain the causes of Grievance Describe the essential pre-requisites of a Grievance Handling procedure 3 List and explain the various types of Disciplinary problems existing in an organization Listing of the Disciplinary problems Explaining all the Disciplinary problems 4 Discuss the Collective Bargaining Process and its issues Explaining the Collective Bargaining process Explaining the Collective Bargaining issues 5 What is a Trade Union and What are its activities Explain the functions of Trade Unions. Meaning of Trade Union Describing the activities of Trade Unions Explaining the Functions of Trade Unions 6 Write a brief note on the following Acts : a) Indian Trade Unions Act,1926 b)Employee State Insurance Act,1948 Indian Trade Unions Act,1926 Employee State Insurance Act,1948 MU0013 HR Audit 1 Write a note on the major Human Resource Development (HRD) Strategies. Explanation of the major HRD strategies 10 2 Suppose you have joined as an HR and you are asked to carry out the HR Audit process in your organization. What are the methods you will consider while implementing the HR Audit process Explain the methods involved in the HR Audit process 10 3 What are the areas of HR Audit Explain any four of them Listing the areas of HR Audit. Explaining any four of them. 4 What do you mean by HR Scorecard Explain the steps undertaken to approach a Human Resource Scorecard. Definition of HR Scorecard Explaining the steps in HR Scorecard Approach 5 Write a brief note on the effectiveness of Human Resource Development Audit as an intervention. Explaining the Effectiveness of Human Resource Development Audit as an intervention 6 Write short notes on the following: Balanced Scorecard 5 10 Competency Mapping 5 SEM 4 COMMON WINTER 2014 MB0052- Strategic Management and Business Policy 1 What is strategy Explain some of the major reasons for lack of strategic management in some companies Meaning of strategy Reasons for lack of Strategic management 2 Explain the following: (a) Core competence (b) Value chain analysis (a) Core competence (b) Value chain analysis 3 Describe in brief the following environmental factors which a business strategist considers: (a) Political factors (a) Description of Political factors (b) Description of Technology as an environmental factor 4 Write a brief note on Turnaround strategy. 10 Brief note on Turnaround strategy 10 5 Define the term strategic alliance. What are its characteristics and objectives Definition of the term strategic alliance Characteristics of strategic alliance Objectives of strategic alliance 6 Write short notes on the following: a) Competitive advantage b) Porters Competitive threat model a) Competitive advantage b) Porters Competitive threat model (Five Forces model) MB0053 International Business Management 1 The world economy is globalizing at an accelerating pace. Discuss this statement and list the benefits of globalization. Discuss the statement Listing the benefits 2 Compare the Adam Smith and David Ricardos theories of international trade with examples. Adam Smiths theory David Ricardos theory 3 Regional integration is helping the countries in growing their trade. Discuss this statement. Describe in brief the various types of regional integrations. 4 Write short note on: a) GATS (General Agreement on trade in services) b) ILO (International Labour organization) a) meaning and role of GATS b) Meaning and role ILO 5 What is the difference between domestic and international accounting and how will you measure this difference 6 Discuss the various payment terms in international trade. Which is the safest method and why The modes of payment SEM 4 IB WINTER 2014 IB0015- Foreign Trade of India 1 Analyze the changes in the composition of Indias foreign trade since 2001. Overall picture of changes in composition of trade 2 Discuss the regulatory framework of Indias foreign trade. Important laws governing exports and imports of India 3 List the thrust exports markets of India. Which products are categorized as thrust export products Discuss. 4 How is services trade important for India List the important services. 5 Explain the various systems of quoting exchange rates. What is the meaning of option forward rates Systems of exchange rates 6 List the types of currency risk and explain how they are managed. Currency risk management IB0016 GLOBAL LOGISTICS AND SUPPLY CHAIN MANAGEMENT 1 Assume that you are working in a textile company. Your company decides to import all the raw materials cotton clothing from the global suppliers to improve the sales. The company assigns you the task of analysing various issues that must be considered while importing. What are different issues you face while importing the goods from a global supplier Listing of the issues with respect to various countries you wish to import from. Brief explanation of issues with suitable examples Summarization of how these issues may affect your companys business 2 Insurance Claim by Jayshri Impex Jayshri Impex is one of India8217s leading garment manufacturer and exporter of textile dyes and chemicals whose manufacturing facility is located at Jethpur (near Rajkot), Gujarat. The head office of the company is at Mumbai. The company manufactures an African traditional dress worn by all natives of African cities 8211 8220khanga8221. Jayshri Impex has set high standards in garment export and it is recognised by the government of India for its extraordinary work. They have their presence in other cities of India as well as in Africa. Armed bandits on October 5, 2004, looted the export consignment of 185 bales of fabrics from the train, when it was transported to Brazzaville (Republic of Congo, West Africa). The company had insured their cargo with Bajaj Allianz and lodged a claim at the Bajaj Allianz, Rajkot office on the same day. Insurance support from Allianz Even though the location of theft was in the remote jungles of Africa, Bajaj Allianz appointed Lloyd8217s Agency to carry out a survey immediately to check for the correctness of the claim. Lloyd8217s was submitted on the survey report on November 20, 2004. It took a month for Lloyd8217s to submit the report due to the procedural formalities involved in Africa to procure documents like police papers and no trace reports. Since the survey report was submitted in French a translation of the same was done at Ahmedabad on November 23, 2004. The Insured submitted all the remaining documents such as Power of Attorney, Original Bill Of Landing, NOC from Consignee, etc on November 25, 2004 from their Head Office at Mumbai. The claim was processed and based on the survey findings it was found to be true and the insurance amount of Rs.31,37,360/- was released on November 30, 2004. Jayshri Impex managed to avoid a huge loss thanks to the insurance that it had purchased. The insurance company Bajaj Allianz also responded quickly and supported its client by releasing the amount at the earliest. Why did Jayshri Impex claim for insurance What type of insurance may Jayshri Impex opted for. How did the insurance company help Jayshri Impex Reason for claiming insurance Inference for the Type of insurance opted (evidence from case study, linking to type of insurance) Settlement of insurance (support from insurance company) 3 Explain in detail about INCO terms. Definition of INCO terms. What do they indicate Listing and description of INCO terms 4 Name the two types of rate making and explain the factors affecting air freight rates. Discussion of freight rates (general and specific commodity rate) with example Brief explanation of freight rates (cost of service, competition, directionality, characteristics of traffic and value of service ) 5 Write short notes on Bareboat Charter Combination vessels Importance of free trade zones Dry ports in India 6 Explain the global trends that affect the decision of a global logistics manager A Explanation of global trends(Market concentration. Production dispersion, Product line diversity) with suitable examples IB0017 International Business Environment and International Law 1 Discuss the salient features of FEMA and elaborate on the difference between FERA and FEMA. Features of FEMA 2 Explain the various incoterms involved in international contract. 3 What is memorandum of Association How is it different from Articles of Association Difference with AoA 4 Write short notes on: a) Meaning and objectives of WTO b) meaning and role of IMF 5 Discuss the rights of an unpaid seller. What are the remedies available to the buyer against seller for breach of contract Rights of unpaid seller 6 What is technology transfer Discuss the methods of international technology transfer. International technology transfer IB0018 Export-Import Finance 1 What is the meaning of documentary Letter of credit Explain in brief the types of L/Cs 2 What is the importance of export documentation Discuss the various regulatory documents in brief. 3 Discuss the FEDAI rules regarding negotiation of documents under credit. 4 Write short notes on: a) Packing credit in foreign currency b Post shipment finance in foreign currency Meaning and role of L/C Meaning and methods of import financing 5 Discuss any two finance programs by EXIM bank of India. 6 What is ECGC Explain Commercial and Political Risks covered under ECGC Policies. SEM 4 RETAIL WINTER 2014 ML0015-Services Marketing and Customer Relationship Management 1 Positioning a service in the marketplace is much like positioning a product. Explain Service positioning and its purpose with the help of an example. Explanation of service positioning Explanation of purposes 2 Elaborate GAP analysis in detail. Explanation of GAP Model. 10 10 3 Interaction plays a lead role in building customer relationships. Explain CIM in this context. Explanation of CIM Explanation of Methods 4 What are the various types of conflicts in marketing services Explanation of types 5 Elaborate the important steps that service providers should bear in mind while implementing one to one marketing. 6 Write short notes on: b) Customer Retention a) Meaning, opportunities and benefits b) Meaning and Strategies ML0016-Advertising Management and Sales Promotion 1 Do you agree that humour content in advertisement leads to better results Support your view with examples. Explanation of statement 2 Experts have found that consumers often respond to messages in a hierarchical order of behaviour. Throw light on communication response hierarchy in this context. Diagram of Model 3 Explain the role of a media planner and media buyer. Role of media planner Role of media buyer 4 Explain the strengths and limitations of direct marketing. List few products which are suitable for direct marketing. Explanation of strengths Explanation of Weaknesses Listing of products suitable 5 Kids are the new age customers. Do you agree with this statement Explain Brat Power in this connection. Explanation 10 10 6 Write short notes on: a) Stereotyping in advertisement b) Regulation governing Broadcast Media Advertising a) Meaning and explanation 1 Explain the different types and components of shopping malls. Explanation of types Explanation of components 2 Explain different models for malls. Meaning of malls Types of mall models 3 Describe the Mall Design Process in detail. Explanation of malls 10 10 4 Explain Global brands, its benefits and variables. 5 Explain Preventive and Predictive Maintenance Techniques in detail. Meaning amp Explanation of PM Meaning amp Explanation of PdM 6 Risks need to be managed and reduced by the shopping mall officials. In context of this statement, explain various issues which are taken care by officials. Explanation of issues ML0018-Project Management in Retail 1 Explain Sensitivity Analysis and the ways in which it is carried out Explanation of sensitivity analysis Explanation of four ways 2 Explain Detailed Project Report and Critical areas of concern for a successful retail store. Explanation of Detailed project report Explanation of critical areas 3 Describe the steps involved in Network Planning Techniques Explanation of steps 10 10 4 Every team member has a different attitude towards work which leads to chances of conflict. Explain the treatments used to overcome the conflict in projects in retail. Reasons for conflict in a team Explanation of Methods/Treatments 5 New ideas are fuel to any organization process. Explain the Judgmental process in the light of the above statement. 6 Write short notes on: b) Fishbone Diagrams SEM 4 PM WINTER 2014 PM 0015 QUANTITATIVE METHODS IN PROJECT MANAGEMENT 1 Write short notes on: Management Operation System Technique (MOST) A Management Operation System 2 Describe the different nonnumeric methods for project selection. A Description of the non numeric methods The Operating/Competitive Necessity Rank-ordering (Q sort) 3 What do you understand by managing cash flow Description of Moving Averages and 4 Describe how you can choose an appropriate forecasting model. A Guidelines for Selecting a Model for the Purpose of Forecasting Performing a Residual Analysis Measuring the Magnitude of the Residual Error Through Squared or Mean Absolute Deviation Principle of Parsimony 5 Describe how you can display data using Gantt chart and Network Diagram Chart in MS Project. A Description of displaying data using Gantt chart Description of displaying data using network diagram chart 6 How to create a report on the project activities in the MS Project A Setting Up of Reports Process of Creating or Editing Reports Reports that can be printed Check the Reports Available Reports by Report Type PM 0016 PROJECT RISK MANAGEMENT 1 Explain the concept of Risk Breakdown Structure(RBS). What are the uses and benefits of Risk Breakdown Structure A Explanation of concept of risk breakdown structure Description of uses and benefits 2 Briefly explain the risk handling strategies A Retaining/accepting risk Mitigating consequences of risk occurrence 3 What are the steps to balance short term and long term plans What are the risk impacts Give examples. A Listing of the steps to balance short term and long term plans Examples of risk impact 4 Explain contract management List the differences between a program and a project in business. A Explanation of contract management including types of contracts Listing the differences between a program and a project in business 5 Pavan Misra is a project manager in Latitude Software Pvt Ltd Company. Pavan attended the seminar conducted annually in HCF convention centre, Lucknow. One of the managers portrayed the following situation at a company at which he had worked: In any organisation the project managers were remunerated for rectifying the problems in troubled projects. A manager who took a project that was not in good shape had refurbished it to good shape and it was appreciated by the customers. He could foresee a sizable bonus at his next performance review. The management analysed it to be a proper way to encourage their employees to outstanding performance. One project manager at this company analysed this incentive system and, as should have been expected by upper management, employed it in his own best interest. He would secretly allow his projects to worsen slowly until they were on the edge of cancellation, then, with obvious, evident, heroic effort, would revive them. His actions of which he made certain that his managers were aware earned him considerable bonuses time and again. The higher management finally came to know that he was the cause of the problems that his projects suffered, and he was immediately dismissed. Pavans response to this presentation was twofold: Good for the Manager Top management at this company made it apparent to the project manager that it was his interest to save a troubled project. If top management didn8217t analyse to provide him with a troubled project, he had to provide it for himself. The manager showed discernment and cleverness in supervising his projects in such a way that he could concurrently attain the company8217s goal and his own (financial reward). Shame on the Company Top management at this company failed to guarantee that the project manager8217s best interest overlapped with the company8217s best interest. If the company wanted to have projects that were in good shape throughout their lifetimes, then their incentives to the project managers should have been focused toward keeping projects healthy. Managers whose projects never weakened should have received greater bonuses than managers whose projects suffered and later recovered. Furthermore, they failed to distinguish the apparent skill that this manager had rather than firing this manager the company should have changed its incentive system and let this manager grow in a situation that would simultaneously benefit the company. What could have the company done to avoid such situation Do you think that Risk mitigation is a useful approach for this company Justify. A evaluation of what the company could have done(relate it to evidence from the case) statement whether risk mitigation is useful state the reasons for this stand 4 6 Explain the need for documentation A Why documentation is vital Aspects of project to document PM 0017 PROJECT QUALITY MANAGEMENT 1 Describe the tools and techniques used for quality planning. A Listing of tools and techniques used for quality planning Description of the tools and techniques used for quality planning 2 Discuss the various tools used for understanding data. A Listing of the tools Description of the tools Steps to create 3 Describe the Enterprise Project Management Model(EPM) Model which supports EPM Implementation of EPM Advantages of EPM 4 Explain the project management value initiative A General description of project management value initiative six steps in the project initiative program 5 Briefly explain the seven forces involved in the success of quality in project management. A Explanation of : Placing the budgetary considerations ahead of the quality Placing schedule considerations ahead of quality Placing political considerations ahead of quality Lack of fundamental knowledge, research or education, the principles of quality assurance Pervasively believing in entitlement Practicing autocratic behaviours, resulting in enrolment 6 UK based Sonifex has been manufacturing equipments to broadcast audio for the radio, TV, security and telecommunications for more than 40 years. A reputation for building high quality, reliable professional audio products, 100 engineering and manufactured in their UK factory and is being used in facilities all over the world has been earned by Sonifex. Sonifex is in private owned by its directors and headed by Marcus Brooke. Sonifexs finest known products comprises of the award winning Courier portable flash-card recorder, which was chosen as the millennium product by the UKs design council. The Red Box range of audio interfaces, that are designed for systems integrators and the lately introduced reference monitor range, a new series of rack-mount audio monitors that utilise the latest DSP (digital signal Processing) technology is also one of Sonifexs product. In the late 1990s, during the drift towards overseas manufacturing, the need to overhaul its complete operation if it were to maintain its status as a leading UK manufacture and to retain its expert manufacturing staff was recognised by Sonifex. Of late, the company realised that a modification needed in the way the manufacturing process was controlled so that stock control, invoicing and accounts can be incorporated. An Excel system called EFACS, allowed to do a lot of what was needed in terms of stock control and production planning. However, the system was very cumbersome and wasnt really suited to the needs of a smaller company where one person usually has more than one task to be performed. Sonifex had its own in-house software expert that could perform a thorough inspection and take a look at the system to see how on the improvements. A new front end was created. Sonifex was the first to invest in Dscope Series III audio analysers. In fact they were involved in helping to incorporate beta testing in the unit. A prototype was seen at a broadcast convention and the beta test was advised to perform as a must. The price was a factor - it is incredibly competitive when compared to the test equipment offered by other manufactures, but that wasnt the only reason to be chosen. They were also convinced by its incredible feature-set and by its user friendliness, but the main deciding factor was that the system could be easily integrated into their test systems, enabling them to develop their own user interface, integrating the scope seamlessly into their own software system. The companys Dscope series III is an inclusive and powerful measurement system for analog and digital audio generation and analysis, consisting of digital audio carrier analysis, acoustic transducer testing and testing of sound devices. The net result of Dscope III was very a rapid diagnosis and correction of any manufacturing faults, with detailed test records being written directly into the test system, giving a complete product that was ever built. This, in turn led to far more effective component batch control of products on the manufacturing lines, and more efficient technical support of products in the field. Each and every step of the phase of the Dscope III series had to undergo a complete inspection, measurement of the devices and testing. Sonifex thus has been able to standardise on the Dscope III series for both development and testing purposes, allowing engineers to exchange results and test procedures between departments. The Dscope III analysis was a important part of the companys performance criteria. Sonifexs followed automated testing process and is now an integral part of its fresh software package, which was developed in-house. By doing the right inspection, measurement and testing at the right time Sonifex has retained their manufacturing operation in UK when many of the competitors had to move overseas. In spite of all this Sonifex continued to develop quality design and manufacture the quality products in such a way that customers come expecting them. What were the challenges faced by Sonifexs measurement system Describe the role of inspection, measurement and testing in building Sonifex. A Listing of challenges Description of the role of inspection, measurement and testing PM 0018 CONTRACTS MANAGEMENT IN PROJECTS 1 What is E-procurement Seven types of e-procurement 2 Explain condition for adopting National Competitive Bidding and the requirements of National Competitive Bidding. A Explanation of condition for adopting National Competitive Bidding and requirements of National Competitive Bidding 3 List the features of Item Rate contracts and demonstrate how they are different from Lump Sum contracts. A Listing of features of Item Rate contracts 4 What is RFP What are the types of consultancy contract A Definition of RFP, What it includes Description of types of consultancy contracts, where it is best suited 5 Briefly explain the areas of risk and causes of risk in contracts. Briefly describe five conditions for termination of a contract A Explanation of various risks Description of conditions for termination of contract 6 What is outsourcing What are its benefits and draw backs Write short notes on contract compliances A Explanation of outsourcing, benefits and drawbacks Short notes on contract compliance SEM 4 BANKING WINTER 2014 MA0041- MERCHANT BANKING AND FINANCIAL SERVICES 1 You want to apply for merchant banker. Find out the list of regulations that a merchant banker needs to follow in India. Merchant banking role 2 Is book building an efficient IPO pricing mechanism Substantiate your reasons. Book building process 3 The banks are in a bind over the implementation of the new bancassurance proposal as announced in Budget 2013-14. Banks assuming the role of insurance brokers may also lead to conflict of interests where the bank is also the promoter of an insurance company. Discuss the opportunities and threats for the new proposal. Opportunities and Threats 4 Global Finance magazine has named the SBI as the Best Trade Finance Bank-2013. SBI has a caption of Expertise delivered around the Globe 8221 Do you agree with this statement. Explain Trade finance SBI position in Trade Finance 5 SKS Microfinance Limited, India8217s only listed micro-lender has concluded a securitisation transaction for Rs 321 crore with a major public sector bank. Describe the process of securitization. Concept of securitisation Process of securitisation 6 Compare and contrast the various instruments of money and capital market that are available in India. Instruments in money market Instruments in Capital market 1 Compare and contrast the corporate treasury and a bank treasury. 2 Discuss FEMA violations in India FEMA violations in India 10 3 Discuss the role of treasury in Kotak Mahindras bank. Treasury operations in Kotak Mahindra bank 4 Explain the organizational structure for Risk Management. Organizational structure for Risk management 5 Discuss the internal audit machineries subscribed by RBI. Internal audit machineries subscribed by RBI 10 6 Discuss the role played by SAP and SWIFT in treasury Management. MA0043- CORPORATE BANKING 1 Discuss the Kingfisher airlines consortium loan and name the participating banks in that loan. Identify the banks the purpose and the amount of advance and the status of consortium loan 2 List and explain briefly the various types of letter of credit documents. List and explain the steps that must be taken to evaluate the documents attached with the letters of credit. Various types of letter of credit documents Explain the steps 3 Prepare a report on the role of EXIM bank in facilitating pre and post-shipment finance. Pre - shipment finance Post shipment finance 4 Prepare a chart listing some of the important Indian banks that have introduced channel banking and Green Banking programs. channel banking and Green Banking programs 5 Reliance industries want to raise capital by selling stocks, through the mechanism of book building, by offering Initial Public Offers (IPOs). Discuss the book building process. book building process. Methods and guidelines 6 Suppose you are working as risk manager in a private bank. As a manager, discuss the issues and challenges of corporate banking. Issues of corporate banking Challenges of corporate banking MA0044- INSTITUTIONAL BANKING 1 NBFCs provide loans for short and medium term at a moderate rate of interest. Refer any two NBFCs and discuss the institutional services and products that are provided by them. Institutional products and services by NBFCs 2 PPPs have great potential to provide infrastructural facilities and contribute towards bridging the gap of demand and supply in infrastructure. Discuss in detail the role of PPP projects in infrastructure. Introduction about PPP 3 NABARD is promoting the setting up of agricultural export zones in various states with the help of local state government bodies. Discuss in detail the scheme of NABARD for agriexports. NABARDs scheme for agri-exports-supporting activities Funds for projects 4 Commercial banks have been playing a major role in providing institutional banking facilities. Prepare a report on any commercial banks services in the area of institutional banking. Commercial banks products in institutional banking 5 The primary role of the IMF is to promote stability of the international monetary system and exchange rates. Discuss some of the projects assisted by IMF. Projects assisted by IMF 10 10 6 Technology plays a dominant role in effectively managing the business of DFIs. Discuss the role of technology in DFIs. Role of technology in DFIs SEM 4 FINANCE WINTER 2014 MF0015 amp INTERNATIONAL FINANCIAL MANAGEMENT 1 Give the meaning forward markets. Explain its features, arbitrage in forward markets, forward markets hedging and speculation in forward markets. Meaning of forward markets Features. arbitrage in forward markets Forward markets hedging Speculation in forward markets 2 Explain the interest rate parity theory and purchasing power parity with examples. Interest rate parity theory with examples Purchasing power parity theory with examples 3 Explain the cash concentration strategies and cash management structures. Cash concentration strategies Cash management structures 4 A particular method is used depending upon the circumstances and the legal accounting procedures adopted in a particular country. Explain all the translation methods. Current rate method Current /non current method 5 International credit markets are the forum where companies and governments can obtain credit. Bring out your understanding on international credit markets and explain the two very important aspects of international credit market. Refer and give one example. Introduction of international credit market Explanation of syndicated loans with example Explanation of External Commercial Borrowings (ECB) 6 Explain the principles of taxation and double taxation. Give some important points on tax havens and its types. Explanation on principles of taxation Explanation on double taxation Explanation on tax havens and its types 1 Collateralised Borrowing and Lending Obligations (CBLO) is a produt in the money market launched in 2003 by CCIL. Discuss the process involved in obtaining membership of CCIL for CBLO. Process involved in obtaining CBLO 2 Commodities market is the market in which commodities like oil, gold and agricultural products are traded. Who are the players in the commodity market How does the commodities move Factors that affect the commodity market 3 Suppose you are the manager of a company operating in three countries India, US and UK. What are the risks you face relating to foreign exchange Foreign exchange risk factors 4 Explain interest rate and various types and various sources of interest rate. different types of interest rate risks framework for measuring and managing the liquidity risks. 5 The Treasury function of a company plays a key role in working capital. Analyse the interface between treasury and working capital. Interface between treasury and working capital 6 Treasury products are the product in the market available to the treasury for raising and deploying funds for investment and trading in securities and forex markets. MF0017 amp MERCHANT BANKING AND FINANCIAL 1 Rating methodology is used by the major Indian credit rating agencies. Explain the main factors of that are analyzed in detail by the credit rating agencies. Business risk analysis Regulatory and competitive environment 2 Give the meaning of the concept of venture capital funds. Explain the features of venture capital fund. Meaning of venture capital funds Features of venture capital funds 3 Hire purchase is one of the important concept. There are certain features of hire purchase agreement so explain the points of it. Differentiate between hire purchase and leasing. Concept of hire purchase Differences between hire purchase and leasing 4 Explain the concept of Swap. Write down its features and various types of interest rate swap. Introduction of Swap 2 10 Features of swap Various types of interest rate swap 5 Elaborate on measuring exchange rate movements. Explain the factors that influence exchange rates. Measuring exchange rate movement - introduction Interest rate differentials Focus on demand supply model 6 Write short notes on: International Credit Markets International Bond Markets International Credit Markets International Bond Markets MF0018 amp INSURANCE AND RISK MANAGEMENT 1 Explain the risk management methods. Internal risk reduction 2 An organization is a legal entity which is created to do some activity of some purpose. There are elements of a life insurance organization. Explain the elements of life insurance organization. Functions of the agent 3 Insurance is the most important industry. Elaborate the different types of mediclaim and liability policies. Explanation of all 5 types of mediclaim policies Explanation of all 6 types of liability policies 4 Give short notes on : 5 Explain the creation and application of insurable interest. Give the differences between wagering and insurance. Creation of insurable interest Application of insurable interest Differences between wagering and insurance 6 Identify the role of insurance in managing risk financing. Explain the importance of insurance transaction. Discuss in different perspectives of insured and insurer Role of insurance in managing risk financing Introduction of insurance transaction Explanation of different perspectives of insured and insurer. SEM 4 HCS WINTER 2014 MH0056 Public Relations amp Marketing for Healthcare Organizations 1 What is marketing mix Explain the four Ps of the marketing mix. Meaning of marketing mix Explanation of four Ps 2 List the different methods of qualitative and quantitative research. Explain the unique features of each methodology. Listing the different methods 3 Elaborate the concept and significance of marketing healthcare. Explanation of concept of marketing in healthcare Significance of marketing healthcare 4 Explain market segmentation. 5 Describe SWOT analysis. Explanation of process of SWOT analysis 6 List and explain the factors that attract corporates to healthcare. Listing the factors Explanation of all the factors MH0057 Management of Healthcare Human Resources 1 Define manpower planning. Explain the steps in manpower planning. Explanation of steps 2 Define training. Explain the various steps involved in the training cycle. 3 Discuss the importance of HRM in healthcare organisations. Explanation of HRM in general Importance of HRM for the employees, society and the organisation Strategic role of HRM in healthcare 4 Explain the impact of government on reward management. What is reward management Impact of government on reward management 5 Explain the importance of human relations in healthcare services. Brief overview of human relations in healthcare services Explanation of importance of human relations in healthcare services 6 A healthcare organization opens a new cafeteria. Consider that you are the HR manager of the healthcare organization and you are given the task of recruiting the staff for managing, cooking food, cleaning the cafeteria and so on. Explain the various methods of recruitment you would follow in selecting the right candidate for the job. Listing the various processes in recruitment Explanation of various processes MH0058 Legal Aspects in Healthcare Administration 1 Which are the 3 types of inquests in India Explain. Mentioning 3 types of inquest 2 Explain the relevance of consumer protection act in the hospital scenario. Definition of consumer Explanation of consumer rights Explanation of relevance of consumer protection act in hospital 3 Explain health as a fundamental right. Definition of health Explanation of health as a fundamental right 4 What is informed consent Describe the implications of breaching confidentiality. Meaning of informed consent Importance of informed consent Explanation of implications of breaching confidentiality 5 Describe two important Indian cases that have led to the formation of case laws in medical emergencies. Explanation of Paschim Banga Khet Mazdoor Samiti Vs state of west Bengal case Explanation of Paramanand Katara Vs Union of India 6 Explain the various systems of medicine prevalent in India. Listing the various systems of medicine in India MH0059 Quality Management in Healthcare Services 1 Discuss the dimensions of quality management in healthcare. Listing all the dimensions Brief explanation of all the dimensions 2 Discuss the methods of performance evaluation in healthcare services. Listing all the methods of performance evaluation Brief explanation of all the methods of performance evaluation 3 Describe Maxwells concepts of quality. Listing of Maxwells concepts of quality Explanation of Maxwells six dimensional quality model of healthcare services 4 Explain the implementation of QMS in healthcare organization. Brief outline of QMS Listing of steps in implementing QMS in healthcare organization Explanation of steps 5 Define accreditation and certification. List the benefits of accreditation and certification of hospitals. Definition of accreditation and certification Benefits of accreditation and certification 6 Differentiate between Six sigma and Total quality management. important differences between six sigma and TQM SEM 4 HR WINTER 2014 MU0016 Performance Management and Appraisal 1 Discuss the principles and dimensions of Performance Management Explaining the principles of Performance Management Explaining the dimensions of Performance Management 2 Assume that you have joined as an HR in an organization. The first task assigned to you is to conduct the Performance Appraisal Process. What according to you is its purpose Describe the entire Performance Appraisal process. Explain the purpose of Performance Appraisal Explain the Performance Appraisal Process 3 Discuss the components of a Performance Appraisal feedback. Describe the steps in giving a constructive Feedback Explaining the components of Performance Appraisal Feedback Explaining the steps in giving a Constructive Feedback 4 Discuss the skills that a line manager require for effective Performance Listing the skills Explaining the skills 5 Describe the modern methods of Performance Appraisal Explain all the five modern methods of Performance Appraisal 6 Write a brief note on the Employees responsibility in Performance Explaining the employees responsibility in Performance MU0017 TALENT MANAGEMENT AND EMPLOYEE RETENTION 1 Explain the importance of Talent Management Process. Describe the stages of Talent Management Process Importance of Talent Management Process Explaining the stages of Talent management Process 2 Describe the top strategies adopted to improve employee retention Explain the top strategies to improve employee retention 3 Explain the key Compensation principles. What do you mean by Total rewards Describe the elements of Total rewards Explaining the key compensation principles Definition of Total rewards Explaining the elements of Total rewards 4 What are the responsibilities undertaken by an HR to ensure compliance to regulations Explain the steps involved in ensuring safe work environments Responsibilities of an HR to ensure compliance to regulations Explaining the steps involved in ensuring safe work environments 5 Explain the key elements of a Talent Management System Explaining the key elements of a Talent management system 6 Explain the concept of Talent Acquisition. Explain the talent acquisition strategies Concept of Talent Acquisition strategies Explanation of the Talent acquisition strategies MU0018 Change Management 1 Describe Kotters Eight Step Change Model Explaining Kotters Eight Step Change Model 10 2 Define Resistance to change. Explain some of the techniques to overcome Resistance to change. Definition of Resistance to change Explaining the techniques to overcome Resistance to Change 3 What do you mean by Organizational Effectiveness Explain the factors in achieving Organizational Effectiveness. Definition of Organizational Effectiveness Explaining the factors in achieving Organizational effectiveness 4 What do you mean by Change Agent Describe the characteristics of successful Change Agents. Definition of Change Agent Explaining the Characteristics of successful Change Agents 5 Explain the Behavioural Approach to Individual Change. Explanation of the Behavioural Approach 6 Write a brief note on the following: a)Kolbs Learning Cycle b)Peter Senges framework on Organizational Learning Explaining the concept of Kolbs Learning Cycle Explaining the concept of Peter Senges Framework SEM 4 OM WINTER 2014 OM 0015 MAINTENANCE MANAGEMENT 1 Write short notes on the following: Categories of maintenance activities Mean Time Between Failures (MTBF) Advantages of a Sound Replacement Program A Categories of maintenance activities Mean Time Between Failures (MTBF.) Advantages of a Sound Replacement Program 2 Explain briefly the functions of maintenance planning. What are the benefits of maintenance planning A Listing and brief description of functions of maintenance planning Listing of benefits of maintenance planning 3 What are the three stages in the lifecycle management of any machinery Explain in brief the Life cycle management system. A Listing of the three stages Description of the stages with help of diagram(Life cycle management process), examples 4 Effective implementation of maintenance management in Quarta Technologies Quarta Technologies is a leading manufacturing company in Bhopal. It manufactures six million tubes a year. Each year, production shuts down for few weeks allowing capital investment projects and deep maintenance to be performed. These include process changes and a variety of maintenance activities are executed. Ramping up to full production capacity after the shut sown was a slow process with attendant quality issues. The equipments used in this organisation were used for several years before it was either discarded or replaced with a similar new machine. From the time the equipment were brought, the production and maintenance personnel accumulated considerable knowledge about the equipment, the manner in which failures occur and the symptoms that it develops before a particular failure or malfunctioning happen. The organisation recognised an opportunity to reduce the quality costs of the annual shutdowns by planning and troubleshooting techniques. The organisation, worked with the plant leadership to improve project and risk management skills by introducing the common process. A progressive learning was done with respect to equipment usage and systematically captures many types of information and put to use. One method was to develop good trouble shooting mechanisms. This mechanism was a structured approach to identify the root cause of the problem that needs some correction when viewed from the maintenance. By successively checking on a set of condition about the equipment, several alternatives pertaining to the possible problematic areas will get eliminated and progressively narrows down to a few. Once this stage is reached, it is possible to conduct a detailed analysis to locate the problem and take corrective measures. This helped the organisation to implement trouble shooting techniques which reduce the shutdown period and a total of 110 distinct maintenance projects and capital investments were managed. It also eliminated schedule conflicts that would have caused delays. This technique helped them to achieve their goals, ramping up faster to full production and improved team corporation. What was the challenge faced by Quarta Technologies What steps were taken by them to reduce it A Description of the challenge Description of trouble shooting mechanism 5 Write short notes on the following: Inventory planning spare parts Benefits of scheduling A Routine maintenance Inventory planning spare parts 6 Explain briefly the twelve steps to be firmed up and practiced for successful implementation of the Autonomous principles in a production unit. A Explanation of the following 1. Introductory Education and Training 2. Cooperation among Departments 3. AM is a job fit 5. Managers must take the Lead 6. Education and Practice 7. Practice first 8. Actual effects 9. Rules and standards are set by Operators 11. Quick response OM 0016 QUALITY MANAGEMENT 1 Write short notes on the following: Integrating Quality into Strategic Management Six Sigma as a quality framework Reliability Types Jurans Trilogy A Integrating Quality into Strategic Management Six Sigma as a quality framework Reliability Types Jurans Trilogy 2 Elucidate different types of Quality Management Systems (QMS). What are the benefits of implementing a QMS Explanation of various QMS (including industry and product specific and nonspecific types, examples) Benefits of QMS 3 ABC is an organisation. The organisation is at the stage of lack of Quality products and services to meet the customer requirements. The organisation decides to develop a strategy and hire people to enhance the quality of its products and services. Being the quality head of the organisation what are the approaches you will consider for initial cost data collection. Listing of the approaches Justification why the approach was chosen 4 Write short notes on the following: Quality standards Significance of Quality Control Automated manufacturing Applications of Design of Experiments (DOE) to product and process design A Quality standards Significance of Quality Control Automated manufacturing Applications of Design of Experiments (DOE) to product and process design 5 This is a case study about an airline. It states that how at the initial stages the airline was not functioning properly and could not achieve customer satisfaction but however after the implementation of Total Quality Management (TQM), the company prospered. Bryan air airlines started in year 1988 with only 67 employees and with one 18 seater turboprop plane from the south of east of Chelsea to London-Gatwick which carried 5000 passengers on one route (Harrison, 2002). In 1990-1991, the company had 700,000 passengers. However, in spite of the raise of passengers, the company could not manage cost that the company had lost its money during the expansion of the business. The management decided to bring a brand new management team which suggested a re-launch of the airlines as a low fares or no frills airline, closely modelling the Southwest Airlines model in the U. S. In addition, there was another problem related to quality service. Since it was a low fares or no frills airline it could not cater to the customer needs. So the company decided to use TQM and a strategic plan where both the internal and external customers will be given importance and all the main focus will be customer satisfaction. Hence the strategic option that was used by the company for satisfying both internal and external customers and marketing environment was used to attain total quality management. Hence by implementing TQM and strategic planning the company could satisfy both the clients and the customer. Now Bryan air is one of the leading airlines in the world. Identify the steps taken by the airline company which made them one of the leading airlines in the world. A Identification of the quality initiatives with evidence from the case Analysis of these initiatives along the benefits Conclusion 6 Summarise why corporate culture is important A Brief explanation/definition of corporate culture Instances where corporate culture must be changed Why does culture matter OM0017 ADVANCED PRODUCTION AND PLANNING CONTROL 1 Write short notes on: Classification of Inventory Models Role of Controls in Operation Cycles Forward scheduling PPC for Different Systems of Manufacturing A Classification of Inventory Models Role of Controls in Operation Cycles Forward scheduling PPC for Different Systems of Manufacturing 2 Five jobs are to be processed at a work station. The processing time and the due date in days are given below. Determine: a) The sequence of job according to the shortest processing time. b) The total completion time. c) The mean flow time or average completion time. d) The average number of jobs in the system each day, e) The average lateness. a) The sequence of job according to the shortest processing time. b) The total completion time. c) The mean flow time or average completion time. d) The average number of jobs in the system each day, e) The average lateness. 3 Differentiate between FMS and standalone machines. Describe a few Applications of FMS in Industries Differentiation between FMS and standalone machines Description of application in industry (pharma, aircraft, automobile, textile etc.) 4 Write short notes on: Material Requirement Planning Forecasting in Operations Off shoring Agile manufacturing A Material Requirement Planning Forecasting in Operations Off shoring Agile manufacturing 5 Define quality planning. Explain the phases of quality planning Definition of quality planning Explanation of phases of quality planning 6 Explain the importance of Supply Chain Management(SCM) and the problems addressed by SCM. Explanation of importance eof SCM Elaboration of problems addresses by SCM OM0018- Technology Management 1 Consider that you are a manager in a company and you want to manage a technology that is newly incorporated. ein. Describe the effects of technologies on business. b. Prepare a list of the factors that are considered in managing technology. A a. Explaining the effects of technologies I business b. Collect from the key issues in managing technological innovation 2 The purpose of forecast is to improve the quality of the decisions related to selection of an alternative from available alternatives and not to force to accept a particular decision. Explain various techniques for forecasting with a neat diagram Describing the techniques 7 3 Write short notes on a. Technology adoption b. Technology diffusion c. Technology absorption A a. Technology adoption 3 b. Technology diffusion 3 10 c. Technology absorption 4 4 When you choose a new technology, you may have to face some of the question like what are its functional requirements, non-functional requirements and does the technology fit the organization culture a. How do you answer for these questions b. What is memristor A a. Explaining eight tips related to the selection of a new technology b. Explaining memristor 2 5 Write short notes on a. Bridging agencies b. Problem solver model c. Bar-Zakay model d. Schlie, Radnor and Wad model A a. Bridging agencies 2 b. Problem solver model 2 10 c. Bar-Zakay model 3 d. Schlie, Radnor and Wad model 3 6 Explain the basic scheme for knowledge based applications A Diagram of basic scheme for knowledge based applications Explaining the knowledge based technology process SEM 4 MIS WINTER 2014 MI0038- ENTERPRISE RESOURCE PLANNING 1 a. Discuss about ERP software selection criteria. b. What is improper ERP system selection Explain in detail A a. Explaining the ERP software selection criteria b. Explaining the improper ERP system selection 2 a) Discuss the components of Customer Relationship Management. b) Explain the different modules of R/3 A a. Explaining the 4 different component of CRM b. Explaining atleast 6 modules 6 3 a. Consider two organisational environment in which one of the organisation is having no or little communication between departments and the other organisation where all the departments know what the others are doing. Now which environment is considered to be better and why b. Explain integrated Management of integration. A a. identifying which environment 2 explaining the reasons 4 10 b. explanation of integrated Management of information 4 A business products distributor was manually processing over 300,000 customer orders each year. Heavy order flow prior to shipping cut-off timeframes and a highly variable daily volume created staffing challenges and inconsistent order turnaround times. Despite an effort to process customer orders via EDI, the company continued to receive over 20,000 orders per month via fax and email requiring manual data entry. Customer Service Associates in three different centres manually entered the orders into the order management system with the added pressure of meeting a shipping deadline. As any manual single-pass data entry process there were many errors, especially during peak processing cycles. Due to a complex product catalogue, variety of order types received from customers, and the large customer base, finding and training data entry specialists was a challenge. Fluctuating daily order volumes made maintaining appropriate staffing levels very difficult. During peak demand periods order processing lags would greatly decrease customer satisfaction levels. To solve all these problems the company implemented an outsourced automatic data entry solution with sophisticated free-form data extraction for their fax and email orders. The solution was able to recognise and capture data from any customer order format with 99.5 accuracy. Order input no longer requires the participation of the companys order entry staff, which has reduced labour costs. The solution also receives fax and email orders on behalf of the company directly from customers and converts the hardcopy order to an EDI electronic purchase order for the order management systems. The solution includes a customised web-based portal to support exception processing and a secure web tool for archiving and storing images of all of the original order documents. The solution is completely accessible on demand from any of the companys workstations. The solution was fully operational within 90 days and required zero capital investments in hardware, software or labour on the part of the company. ein. What are the challenges that the company faced before the installation of the Data Entry solution b. What are the benefits of the Automatic Data Entry solution A a. Listing the Challenges 5 10 b. Listing the benefits 5 5 Write short notes on b. Reduction of lead time A a. Explaining 2 10 b. Explaining reduction of lead time 2 c. Explaining about BAAN company 2 d. Explaining End users 2 e. Explaining ERP trends 2 6 Describe in detail the workflow of HRM that deploys ERP systems with a neat diagram Listing the different sub modules 2 10 1 Electronic Commerce is commonly known as e-commerce, is a process of buying and selling of goods or services using electronic systems. List the applications and benefits of e - Commerce. A a. Applications of e-Commerce 5 b. Benefits of e-Commerce 5 10 2 The e-Commerce architecture is divided into different layers which help us to have an organized discussion of building blocks of e-Commerce in a logical order. Explain the layered architecture of e-Commerce systems A Explaining the six layers of e-Commerce systems 10 10 3 Suppose you are the network admin of WXZ Software Company and you are given the responsibility of managing all the servers. What are the steps you would follow to avoid hacking of the companys information A Explaining the threat and to avoid threats 10 10 4 Assume that you are the project manager of VSG company. Due to some reason the companys server got shut down and the company is not able to access the companys confidential data. What steps would have been taken by you to avoid this A Explaining the backup alternatives 10 10 5 Write short note on a. Target Audience b. Preparing the budget A a. Target Audience 5 10 b. Preparing the budget 5 6 Guest look is an Indian based cosmetic manufacturing company which manufactures a wide range of cosmetics for men. Although its product was used by men all over the world, a number of new cosmetic manufacturing companies arose in the market challenging Guest look. Now Guest look has to find innovative ways of advertising its products. So far, Guest looks advertising aids were mostly printed and television media. Now Eguest look realized the importance and benefits of e-Marketing and has started concentrating on e - Marketing. As the company is known for its integrity and will not compromise on that with spam and unsolicited mails. Therefore, company identified three techniques such as search engine optimization, improving existing website and banner ads. ein. What are the benefits of offline advertising Are Guest look following offline advertisement Justify your answer b. If you are working with the development team of Guest Look, how would you go about improvising the existing website c. What banner ads A a. Listing the benefits of offline advertising 2 Justification of the answer for using offline advertisement b. Explaining how to improvise the existing website c. Explaining banner ads and its drawbacks 3 MI0040- TECHNOLOGY MANAGEMENT 1 Consider that you are a manager in a company and you want to manage a technology that is newly incorporated. ein. Describe the effects of technologies on business. b. Prepare a list of the factors that are considered in managing technology. A a. Explaining the effects of technologies I business b. Collect from the key issues in managing technological innovation 2 The purpose of forecast is to improve the quality of the decisions related to selection of an alternative from available alternatives and not to force to accept a particular decision. Explain various techniques for forecasting with a neat diagram Describing the techniques 7 3 Write short notes on a. Technology adoption b. Technology diffusion c. Technology absorption A a. Technology adoption 3 b. Technology diffusion 3 10 c. Technology absorption 4 4 When you choose a new technology, you may have to face some of the question like what are its functional requirements, non-functional requirements and does the technology fit the organization culture a. How do you answer for these questions b. What is memristor A a. Explaining eight tips related to the selection of a new technology b. Explaining memristor 2 5 Write short notes on a. Bridging agencies b. Problem solver model c. Bar-Zakay model d. Schlie, Radnor and Wad model A a. Bridging agencies 2 b. Problem solver model 2 10 c. Bar-Zakay model 3 d. Schlie, Radnor and Wad model 3 6 Explain the basic scheme for knowledge based applications A Diagram of basic scheme for knowledge based applications Explaining the knowledge based technology process MI0041- JAVA AND WEB DESIGN 1 Write down what the following tags will perform 2 Write short notes on b. Web development tools A a. Explaining web browsers with an example b. Explaining web development tools with an example 3 Write a programme to create a webpage that prints the name of the STUDENT database in Wide Latin font and set the subtitle with description of the STUDENT to the screen. Set the page layout to the webpage. Insert one image after the database with a Thank you note. A Programme 7 10 Writing the output for the programme written 3 4 Read the following case study thoroughly and answer the following questions: ABC is an educational institute which is reputed for its management courses. It has 3 branches in different places and is planning to launch 2 more branches in some other places. The institute used to maintain the student details in the form of a hard copy file. One day, a fire broke out in the record section and all such records were destroyed. Next day the management decided to maintain the student details in a computer so as to prevent the damage due to such disasters. One of the management members suggested that XYZ Company is capable of developing a kind of application for maintaining records using java. The member further told other members that in his friends organisation the same java application developed by the sXYZ company was working very effectively and it also offered enough security parameters. Immediately the management appointed an employee who had good knowledge of java language to oversee the implementation of the required application. That employee prepared an outline of the companys requirements and submitted it to the XYZ Company. The requirements of institute were: For institutes employeesstudent details, course details, materials, and access rights. For students it was Course material, feedback on assignments, course details and faculty details. XYZ companys web designers developed a prototype of an application based on the requirements of the ABC institute. Now the programmers of XYZ company detailed the process of application development based on the specified requirements. They decided that for display purpose they can use JSP (Java Sever Pages) and to retrieve the details of a particular student, they would create JDBC connection to the all branches. The student details can be stored in a database table (server side) by using MySql. They also decided to use servlets for internal process. That is, sending of request and obtaining response from the server. After developing the application, they submitted it to ABC institute for testing purpose. During the testing process, it was found that there is no proper security mechanism in the application. That is, the application permitted Login by every member. So ABC company asked XYZ company to install security mechanism in the application such that it gives separate access to the employees and students. XYZ company modified the application by giving only limited and absolutely necessary access rights to the concerned users. Also a new security parameter added to the application, prevented access by a user for 24 hours if he/she entered incorrect Login details for three consecutive times. a) Give reasons as to why ABC institute decided to choose XYZ Company for the development of Java application. b) Discuss the reason for using JSP in java application. A a. Answering for reasons 5 b. Reason for using JSP 5 10 5 For the above case study answer the following questions a. State the reason for using database connection in the application. b. Explain the purpose of creating a java application for the ABC institute. A a. Reasons for using database connection 5 10 b. Explaining the purpose of creating a java application 6 How do you handle exception in java Give with an example A Explaining handling exception and the ways of exception can occur Exception types 4 Explaining different types of exception handling like, using throw, using finally, etc SEM 4 MARKETING WINTER 2014 MK0015-Services Marketing and Customer Relationship Management 1 Positioning a service in the marketplace is much like positioning a product. Explain Service positioning and its purpose with the help of an example. Explanation of service positioning Explanation of purposes 2 Elaborate GAP analysis in detail. Explanation of GAP Model. 10 10 3 Interaction plays a lead role in building customer relationships. Explain CIM in this context. Explanation of CIM Explanation of Methods 4 What are the various types of conflicts in marketing services Explanation of types 5 Elaborate the important steps that service providers should bear in mind while implementing one to one marketing. Explanation 10 10 6 Write short notes on: b) Customer Retention a) Meaning, opportunities and benefits b) Meaning and Strategies MK0016-Advertising Management and Sales Promotion 1 Do you agree that humour content in advertisement leads to better results Support your view with examples. Explanation of statement 2 Experts have found that consumers often respond to messages in a hierarchical order of behaviour. Throw light on communication response hierarchy in this context. Diagram of Model 3 Explain the role of a media planner and media buyer. Role of media planner Role of media buyer 4 Explain the strengths and limitations of direct marketing. List few products which are suitable for direct marketing. Explanation of strengths Explanation of Weaknesses Listing of products suitable 5 Kids are the new age customers. Do you agree with this statement Explain Brat Power in this connection. Explanation 10 10 6 Write short notes on: a) Stereotyping in advertisement b) Regulation governing Broadcast Media Advertising a) Meaning and explanation 1 Elaborate the e-marketing techniques used for various marketing activities. Explanation of techniques 10 10 2 Motivation to buy a product is crucial part of studies in online consumer behaviour. Explain Explanation of types of buying behaviour 10 10 3 A website has to be designed to showcase the company and its products. Explain how to create a website along with its elements. Explanation of creating a website Explanation of elements 4 Explain 2P2C3S Formula in E-Marketing with the help of a diagram. 5 Businesses are always looking to develop new sales and distribution channels to maximize profitability and growth. Explain Explanation of role of distribution 10 10 6 Write short notes on: a) Sales Force Automation b) Customer Loyalty MK0018 International Marketing 1 Discuss the different management orientations of a company. How does it affect international marketing Effect on international marketing 2 It is very important to analyze the politico - legal environment of a country in international business. Comment. Discuss the statement 3 Compare GATT and WTO and discuss the implications of WTO on international marketing. Implications of WTO 4 Nestle is marketing bottled water to Pakistan. Which segmentation it adopts there and what are the other international market segmentations Bases of segmentation 5 Write short notes on: a) International packaging b) International logistics planning a) role and problems with packaging b) meaning and components of logistics 6 Select a product of your choice for export and explain how you will do the pricing and costing of that product. 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