Mgt501 Assignment No. 2 solution

“Human Resource Management (MGT501)”

Assignment No. 2 Marks: 15

“Career Management”

Career management is no doubt a process that continues throughout your professional life. It helps you in planning the career in a rational and tactical way to avoid any professional mistake that may waste your time, efforts and money. You might have planned you career keeping in mind your education, skills and personal interest. Applying the techniques of Career management, you are required to choose a career for yourself and design a comprehensive career path.

Please note this is an exclusive question therefore the chance of similar answers is rare. This assignment will help you in making your career plan so serious efforts are required as this is for your self learning.

Important Tips

1. This Assignment can be best attempted from the knowledge acquired after watching video lecture no. 23 to lecture no 25 and reading handouts as well as recommended text book).

Schedule

Opening Date and Time

May 27 , 2011 At 12:01 A.M. (Mid-Night)

Due Date and Time

June 02 , 2011 At 11:59 P.M. (Mid-Night)

Note: Only in the case of Assignment, 24 Hrs extra / grace period after the above mentioned due date is usually available to overcome uploading difficulties which may be faced by the students on last date. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.


Solution:


Idea

1) Keep in mind your strengths.

2) Weaknesses

3) Opportunities.

4) Threats.

And also assess the kind of job what you want to do.
Also keep eyes on your pocket.
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steps involved in career planning
1) Assess Your Strengths:
Make a list of your strongest skills and abilities. Ask your friends and family members for input. Remember, there are many kinds of intelligence. Are you good with words? Are you skillful at building or fixing things? Is math or music a strength for you? Maybe you have an artistic gift, or you have a natural ability to help people.

2) Gather Career Data:
A very valuable resource is the Occupational Outlook Handbook (OOH), developed by the U.S.Department of Labor. The OOH describes over 250 jobs, along with their earnings, training and skill requirements, working conditions, schedules, advancement opportunities, and projected growth.

3) Tap Into Your Network:
We usually don't know much about the day-to-day realities of most occupations. Yet this is exactly the kind of information you'll need to find a good career fit. Ask relatives, neighbors, or anyone you know about the details of their jobs.

Consider scheduling an "informational interview" with a professional in your field of interest. Ask whether the job involves working mostly with other people or alone. What education or training is required? Is the work done independently or under close supervision? What kind of paperwork is involved? How much of the job is indoors versus outside? Is it repetitive, or does it involve varied duties? Is this a "desk job," or is more physical activity involved? Discuss wages, advancement opportunities, and the best and worst parts of the job.

4) Research Your Labor Market:
Sometimes students will earn a degree, only to discover their community is already saturated with qualified workers in their field. For example, if you're thinking of training as a medical assistant, call the school to find out where graduates are placed. Ask local hospitals, clinics and nursing facilities how many medical assistants they employ, their turnover rate, openings anticipated within the next year, and any expected growth or decline.

5) Take Career Tests:
Your school, colleges and private companies offer career guidance testing. Aptitude, interest and personality style tests help you discover which careers would be satisfying for you.

6) Job Shadow or Volunteer:
Get first-hand knowledge by seeing the job in action. Through "job shadowing," you can spend a day observing someone working in a job you're interested in. Or gain actual work experience through volunteering. Schools, churches, hospitals and many national service organizations like the United Way can always use volunteers. Volunteering looks good on your resume, gives you references, and is often a springboard to a paying job.

I will simply follow the aforementioned steps to become a good HR practitioner.


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My education, skills and personal interest is any industrial and non industrial account department. Because my personal interest in account field then I choose it and get admission in this department. For improved yourself I am used these techniques.

Company Material:
Some firms provide material to their workers in career planning and development.

Workshops:
Some firms are conduct workshops two of three days. The main theme is the career development of the company workers.

Planning with educated persons:
This a formal discussion way in which top management is decided what type of planning and development activates is useful.

Software packages:
Some software package is used career planning and development.

Career planning web site:
Visit some career planning web sites that provide information about career planning and counseling.

For career planning I am used this career path.

Lateral skill path:
When we join a firm then I am not an experienced person. For passage of time I will gain experienced in my field. In lateral skill path is a career path in which viewed as moving upward to higher levels of management in the organization. Because I am not like that an individual is work on a same job throughout life. So the lateral moves within the firm are take an individual to become revitalized and find new challenges.

IT430 Assignment No. 3 solution

Please note that Assignment No. 3 of IT430 has been uploaded. The due date to submit solutions is 06-06-2011 (06-June-2011). All the instructions for solving assignment are there in assignment file. Please make sure, you read the instructions before attempting assignment and upload solutions before due date.

Assignment Question:

Question# 1 (5)

a) In minting stage of E-cash payment system, what mechanism is used to make the serial number (generated by client’s cyber wallet) blind? (2)

b) Assume that you want to buy a low cost item like shoes, wallet etc, what payment system do you suggest for this transaction and why? (3)

Question# 2 (5)

Suppose you want to buy an apple iphone from an online shopping site through E-cash payment system. What steps would be followed to make this transaction?

Solution:

solution Question 1
a) At this stage the bank knows as to who amongst its different account holders or clients is requesting for the bank’s signatures on the serial no., but it does not know the serial no. it is signing due to the blinding factor “r”.

b) Here in Pakistan, people are not use to of plastic money, specially the small vendors. if i am buying a low cost product than i will pay through cash to avoid long procedure of bank.

This purchase will take the following steps.........

E-Cash & the Web

Merchant Software
Merchant Client Software
Wallet Client
Wallet Web
Browser
Web Server
wallet Starts
1.Select Order
2. Merchant
3. Payment Request (Order)
4. Payment (coins, order)
5. Deposit coins
6. Accepted
7. Receipt
8.Send goods
9.Goods/Acknowledgement

Mgt211 Assignment No. 2 solution

Suppose you want to start a business of ready-made garments by opening a factory in Faisalabad. Your product will be T-Shirts. There are already three garments manufacturing companies (having the same product) in that area. These companies are doing their business with big foreign buyers like Nike, Puma, D& G, JC Penny, Brands& Fashions, Sports Essentials, and Marks & Spencer etc.

1) How you will differentiate your product from your competitors? (5 Marks)

Answer: First step that should be taken is to make the customer aware of the type or quality of T-shirts which fulfill customer requirements and then to settle up to reasonable prices to differentiate product from competitors (your shirts from other T-shirts in market) by gaining competitive advantage.

2) What pricing strategy you will adopt to grab the market share from your competitors? (5 Marks)

Answer: In the market place, to grab the market share from competitors we can set lower prices or adopt psychological strategy to have a psychological price impact of T-shirts on customers which will attract more customers so if the per unit price of T-shirt is Rs.85 then we can change figures up to level 84.95 or 85.99 rupees.

3) Which channel of distribution you will adopt to deliver your product to foreign customers? (5 Marks)

Answer: The channel adopted would be considered as product distribution or place channel with the ease to supply our T-shirts to the end customers while the direct or indirect channels used in process to deliver T-shirts accordance to requirements of our foreign customers at right time.

What will be your promotion method to attract the foreign customers toward your products? (5 Marks

Answer: The methodology adopted to attract the foreign customers towards our T-shirts is to use latest technology, enhance brand image a thirst to innovation, budget line while keeping in mind about the legal issues arising are allowed to promote our T-shirts or not and considering target audience to which business want to reach.

MGT201 GDB Solution

Answers

The expected Rate of Return = 39.7% ?

The standard deviation of the returns=23.5989 %

The coefficient of variation of the returns =0.5944

Comment about the riskiness of the new investment = New project with CV=0.5 is less riskier than the CV =0.5944, so new investment should be preferred





Solution:

a) Expected rate of return

Expected ROR = < r > = pi ri

= p1 (r1) + p2 (r2) + p3 (r3) + p4(r4) + p5(r5)

= 0.010 ( -10%) + 0.450 ( 20%) + 0.320 ( 45%) + 0.140(60%) + 0.080 (100%)

= - 0.1% + 9% + 14.4% + 8.4% + 8 %

= 39.7%

b) The standard deviation of the returns

Risk = Std Dev = ( r i - < r i > )2 p i

= Std Dev = δ = √ Σ (r i - < r i >)2 p i.

= √{[(-10-39.7)2 (0.010)] + [(20-39.7)2 (0.0.450)] + [(45-39.7)2 (0.320)] + [(60-39.7)2(0.140) + [(100-39.7)2(.080) }

=√ (24.7009 + 174.6405 + 8.9888 + 57.6926 + 290.8872)

= √ (556.91)

=√557

Standard Deviation, δ = 23.5989

c) Coefficient of variation , CV = Standard Deviation = 23.5989 / 39.7

Expected Return

= 0.5944

d) Coefficient of Variation tells us about the Risk per unit Return. The project which offers lowest per unit risk is the best investment. 0.5944 > 0.5. The new investment offer the CV of 0.50 which is lower than calculated CV in part (iii) is 0.5944. Choose the Project with the Lowest CV i-e CV=0.5. As it carries the lowest Risk per unit Return than 0.5944

MGMT628/HRM628 GDB 2 Idea Solution

LEADING AND MANAGING CHANGE

Introduction:
“Lay-off” is one of the most intricate ways an organization deals with financial, political and/or structural changes. The management has to face resistance, low quality work, concerned employees, rumors, employee dissatisfaction and, the most serious of all, loss of skilled workers. Following are some statements of troubled employees that management generally comes across:
1. “Top management thinks they can run the company alone. We keep asking them the reason of laying-off such talented people, who were once considered the threshold of the organization. All they provide us is with diplomatic and politically correct statements. Some people are saying they want to kick us out and hire their own family and friends, others are saying the company is closing down. We don’t understand the reason and we don’t know what will happen in the future.”
2. “We should have at least been consulted. We have given a large part of our lives to this company and we deserve to be a part of every decision that involves us and our future. The company’s values have been high-level employee participation and time and again our management has also empowered us to make decisions; they should have at least kept that spirit alive.”
3. “My manager never listened to me in the first place. I came to her office one day to confront her on the decision and she gave me 100 reasons why I was wrong and she was right. We are dedicated and experienced people and we know this business more than our management. The least they can do is listen to us and respect our opinion.” Address

Question:
Consider yourself an OD Practitioner and analyze these three statements depicting resistance to change. Identify which strategy you would use to deal with each situation.

Ans:
For 1st situation strategy is Communication
For 2nd situation strategy is Participation and Involvement
For 3rd situation strategy is Empathy and Support

HRM627 (GDB # 02) Idea Solution

Discussion Question

There are different sectors in economy i.e. public, private and voluntary sectors. And in public sector, there are numerous types of organizations. Following are some commercial criteria for the public sector organizations. You are required to identify the subtype of the organization along with who takes the decisions in each subtype. Fill the empty boxes by specific answers relevant to those particular criteria.

S No.	Commercial Criteria	Sector Subtype	Decision Taken By
1	Commercial criteria depends upon the type of business and nature of task	Partial Outsourcing	Government/Management
2	Expected to operate according to commercial criteria	Publicly owned Corporations	Management/Themselves
3	No specific requirement to meet commercial success criteria	Direct Administration	Government

ECO 403_GDB Solution

Unemployment is an economic problem as well as a social issue. It affects the living of all the people in a society whether they are young or old, educated or uneducated, skilled or unskilled. Why unemployment is increasing day by day in Pakistan? Write down at least one reason.

Answer:

Unemployment is increasing day by day in Pakistan due to many reasons. Reasons are job search and wage rigidity in the country.

• Job search:

1. Workers have different abilities and preferences.

2. Jobs have different skill requirements.

3. Geographic mobility of workers.

4. Flow of information is imperfect.

· Wage rigidity:

1. Minimum wage laws.

2. Labor unions.

3. Efficiency wages.

· Sectoral shifts.

· Unemployment insurance (This is for European countries)

FIN623 2nd GDB IDEA SOLUTION

Samsung has a branch office in Pakistan. Mr. Kim, who is the employee of head office, is dedicated to perform services for the Pakistan branch office. What will be the tax treatment of salary received by Mr. Kim according to Income Tax Ordinance

2001?

Answer:

Treatment of Salary through employment Exercised in Pakistan:

Salary received by Mr. Kim will be Taxable under (Section 101) "Pakistan

Source Income" of the Income Tax Ordinance 2001.

Additional Explanation:

As Samsung which is a foreign company but has a branch office in

Pakistan its means that Samsung is working in Pakistan through Permanent

Establishment in Pakistan so it will be a resident company here and any salary paid by a resident company is Pakistan Source income and also any salary which can be earn through employment exercised in Pakistan will be chargeable to tax under Pakistan Source Income

ECO401 Assignment # 2 Solution:

Assignment # 2 Solution:

Question:

A firm operating in competitive environment faces the following price (P),quantity (Q), total fixed cost (TFC) and total variable cost (TVC) schedules respectively:

A. Calculate total revenue (TR), marginal revenue (MR), total cost (TC),marginal cost (MC) and profit (π) for each level of output (Q).

Solution:-

Q	P	TFC	TVC	TR	MR	TC	MC	π
400	2.5	150	750	1000	—	900	—	100
500	2.25	150	830	1125	1.25	980	0.8	145
600	2	150	905	1200	0.75	1055	0.75	145
700	1.75	150	995	1225	0.25	1145	0.9	80

B. Find the optimal level of output and price which maximizes firm’s profit.

Answer:-

As we know that profit is maximized at the point where MC = MR. The optimal level of Output (Q) and Price (P) at which maximizes firm’s profit is 600 and 2.

Mgt602 Assignment 2 Solution

Assignment 02: Entrepreneurship MGT 602 Marks 20

The Conceptual Note:

Any entrepreneurial venture which gets a positive response from the market and has potential for growth generally chooses between "organic growth" and "external growth" as a strategy to grow. Both organic and external growth strategies have their merits and demerits and most of the organizations choose the one according to their goals and suitability. "Organic growth" is a strategy in which ventures expand internally by opening own branches and setting up own production facilities in those markets where they do find potential whereas in "external growth strategy" entrepreneurs grant the rights of their business to external partners in the shape of "franchising" or "licensing". Taking over some established brands and businesses is also called external growth strategy. It has also been observed that different businesses use a blend of organic and external growth strategies for growing in different markets.

The Case:

You started a pizza shop with the name of "Pizza Pakistan" in Peshawar in 2009 which was liked by the people and now sells like hot cakes. Your pizza shop is not only well known in Peshawar but also a large number of people living in most of the major cities of Pakistan are aware of it. You have conducted a survey in all major cities of Pakistan and found that people living there know your product and willing to have it. You have also been contacted by some sound parties from Faisalabad, Quetta and Hyderabad to become your franchisee.

The Requirement:

Keeping in view the above case and the note, you are required to make a decision that which growth strategy you will use to expand your business in new markets. Also justify your choice by giving solid arguments in favor of the strategy you will choose and against the strategy which you will not consider.

The Special Note: How can you avoid zero marks status?

Dear Students! You are encouraged to consult both online and offline sources with objective to enhance your understanding of the topic of the assignment. But consulting the sources does not mean that you start copy-paste the material from sources. If you do so you will certainly lose marks or your assignment will be graded zero on account of copying from a source. The workable strategy is to consult the source, enhance your knowledge and write in your own words. If the idea you are writing in your own words is not original then do give the references of the sources you have consulted in the end of your solution. Also do not seek help from any website or blog which offers assignment solution because such sources offer you substandard material which may spoil your future.

Solution:

The Case:

You started a pizza shop with the name of Pizza Pakistan in Peshawar in 2009 which was liked by the people and now sells like hot cakes. Your pizza shop is not only well known in Peshawar but also a large number of people living in most of the major cities of Pakistan are aware of it. You have conducted a survey in all major cities of Pakistan and found that people living there know your product and willing to have it. You have also been contacted by some sound parties from Faisalabad, Quetta and Hyderabad to become your franchisee.

Solution with Arguments:-

Pizza Pakistan has many plans to grow their business and increase sales and profits. However, there are certain methods Pizza Pakistan must use for implementing a growth strategy. The method Pizza Pakistan uses to expand its business is largely contingent upon its financial situation, the competition and even government regulation. Some common growth strategies in business include market penetration, market expansion, product expansion, diversification and acquisition.

Market Penetration

One growth strategy in business is market penetration. Pizza Pakistan uses a market penetration strategy when it decides to market existing products within the same market it has been using. The only way to grow using existing products and markets is to increase market share, according to the article "Growth Strategies" in Hand Book. Market share is the percent of unit and rupee sales Pizza Pakistan holds within a certain market vs. all other competitors. One way to increase market share is by lowering prices. For example, in markets where there is little differentiation among products, a lower price may help Pizza Pakistan increase its share of the market.

Market Expansion

A market expansion growth strategy, often called market development, entails selling current products in a new market. There several reasons why Pizza Pakistan may consider a market expansion strategy. First, the competition may be such that there is no room for growth within the current market. If a business does not find new markets for its products, it cannot increase sales or profits. Pizza Pakistan may also use a market expansion strategy if it finds new uses for its product. For example, a small soap distributor that sells to retail stores may discover that factory workers also use its product.

Product Expansion

Pizza Pakistan may also expand its product line or add new features to increase its sales and profits. When small companies employ a product expansion strategy, also known as product development, they continue selling within the existing market. A product expansion growth strategy often works well when technology starts to change. Pizza Pakistan may also be forced to

add new products as older ones become outmoded.

Diversification

Growth strategies in business also include diversification, where Pizza Pakistan will sell same products to new markets. This type of strategy can be very risky, according to gaebler.com. Pizza Pakistan will need to plan carefully when using a diversification growth strategy. Marketing research is essential because Pizza Pakistan will need to determine if consumers in the new market will potentially like the new products.

Acquisition

Growth strategies in business can also includes an acquisition. In acquisition, Pizza Pakistan purchases or licenses another Pizza Pakistan branch to expand its operations. Pizza Pakistan may use this type of strategy to expand its product line and enter new markets. An acquisition growth strategy can be risky, but not as risky as a diversification strategy. One reason is that the products and market are already established. Pizza Pakistan must know exactly what it wants to achieve when using an acquisition strategy, mainly because of the significant investment required to implement it.

STA630 Assignment No. 2 solution

Research Methods (STA630)

Assignment No. 2

Marks: 20

No.7

“No. 7” is a Pakistani denim manufacturer company dealing in colored fabric. For last three years, sales of “No. 7” have been declining significantly. The reason, shown by sales data, was its color scheme. Two types of color schemes were being used. In first type, light colors were contrasted with dark ones; while in other, block dark colors were used. It was found that the sale of dark block colors was declining hence affecting the overall sales; however the combination of dark and light was in demand.

There are a number of factors which can affect the customers’ color choices. In order to further explore the issue and to make the appropriate strategy, a team of researchers was assigned the task to identify the factors affecting the color choice.

You, as a part of research team, are required to:

• Identify the broad problem area (4 marks)

• Identify the problem (4 marks)

• Write Problem statement (4 marks)

• Identify the possible factors affecting the color choice (at least 3) (4 marks)

• Formulate the hypotheses on the basis of identified factors (4 marks)

Solution:

QUESTION # 1
Identify the broad problem area (4 marks)


Color scheme


QUESTION # 2
Identify the problem (4 marks)


Sale of dark block colors was declining



QUESTION # 3
Write Problem statement (4 marks)


We want all of our products releases to go to production seamlessly, without defects, where everyone is aware and informed of the outcomes and status. (Vision)


Today we have color scheme failures that result in dark color blocks failures. If we ignore this problem; resources will need to increase to handle the cascading problems, and we may miss critical customer deadlines which could result in lost revenue, NO 7, lost business, and further damage to our quality reputation. (Issue Statement)


We will use our best efforts in evaluating the last release to help us improve our processes. (Method)



QUESTION # 4
Identify the possible factors affecting the color choice (at least 3) (4 marks)
1.Sagging Economy
2.Poor Sales Forecasting
3.Poor Individual Performance
4.Ineffective Sales Pipeline



QUESTION # 5
Formulate the hypotheses on the basis of identified factors (4 marks)


Four steps for formulating a hypothesis:-


> Define the problem statement
For last three years, sales of No. 7 have been declining significantly. The reason, shown by sales data, was its color scheme


> Determine the solution of the problem statement
The sale is effecting by the DARK color combination as quality of the colors are same but the taste of the customer has been changed. So company will take care of her valued customers and choice i.e. Grow the production of Medium Shades


> Write the proof
Combination of Dark and light colors was in demand so under this considerations company will prefer the choice of customers.


> Methods for checking the proof


By conducting several surveys
1. Face to face talk
2. Telephonic talk
3. Suggestions by mail etc
By checking the sales
By checking the increasing demand of the customers

Mgt502 Assignment No. 2 solution

MGT502

Assignment -2

Spring 2011

Question No 1: What is the reason that Mr. Saad decided to hire employees with higher Emotional Intelligence (EI)? And how EI particularly helps in better customer service?

Ans.

An article in People Management, Catch em young, discusses how it is easier and more cost effective for companies to find employees who already have highly developed emotional intelligence. Finding new hires that don t need training saves companies thousands of dollars.

This article also discusses how our education system is more focused on teaching materials instead of on teaching better social skills to students. If organizations began to recruit people with high emotional intelligence, doing so could potentially improve working relationships in the workplace. Eventually, some of those recruits with high levels of emotional intelligence will become the leaders in the organization. They will be able to pass their emotional intelligence on to their subordinates. Everything from the environment and culture of the organization would begin to shift if more emotionally intelligent people were placed in high positions within the organization. They could influence the other employees to create new shared assumptions for the organization. Having people with high emotional intelligence in leadership positions can only benefit the organization as a whole. Because they would be able to change the work environment so everyone benefits. Recruiting for emotional intelligence should become an accepted practice in organizations because doing so would help in the development of new leadership within that organization. This would produce happy employees and higher retention rates. Emotional intelligence awareness and action taken in organizations would benefit the company greatly over time. An article in Harvard Management Update notes that Studies indicate that your emotional intelligence or emotional quotient (EQ) accounts for 15% - 45% of Emotional intelligence incorporates all of the communication ideas that students learn about in the program. Many of the skills needed to achieve high levels of emotional intelligence are highlighted in the classes in the Applied Communications program. The knowledge would help students understand how improving such concepts as conflict management, interpersonal communication, multi-cultural communication, and organizational communication could enhance their emotional intelligence.

Incorporating the different topics discussed in class would show students how their education at the University of Denver will increase their advancement opportunities.

Question 2:

In your opinion, how emotions and moods of these employees affect other job related factors?

ANS.

Mood and emotions form the affective element of job satisfaction. (Weiss and Cropanzano, 1996). Moods tend to be longer lasting but often weaker states of uncertain origin, while emotions are often more intense, short-lived and have a clear object or cause. There is some evidence in the literature that moods are related to overall job satisfaction. Positive and negative emotions were also found to be significantly related to overall job satisfaction Frequency of experiencing net positive emotion will be a better predictor of overall job satisfaction than will intensity of positive emotion when it is experienced.

Emotion work (or emotion management) refers to various efforts to manage emotional states and displays. Emotion management includes all of the conscious and unconscious efforts to increase, maintain, or decrease one or more components of an emotion. Although early studies of the consequences of emotional work emphasized its harmful effects on workers, studies of workers in a variety of occupations suggest that the consequences of emotional work are not uniformly negative.

It was found that suppression of unpleasant emotions decreases job satisfaction and the amplification of pleasant emotions increases job satisfaction. The understanding of how emotion regulation relates to job satisfaction concerns two models:

1. Emotional dissonance. Emotional dissonance is a state of discrepancy between public displays of emotions and internal experiences of emotions, that often follows the process of emotion.

2. Social interaction model. Taking the social interaction perspective, workers emotion regulation might beget responses from others during interpersonal encounters that subsequently impact their own job satisfaction. For example: The accumulation of favorable responses to displays of pleasant emotions might positively affect job satisfaction. Performance of emotional labor that produces desired outcomes could increase job satisfaction.