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CS507 Assignment No 01 Solution & Discussion Due Date: 14-11-2014

Objective: Understanding the Concept of Management Styles and Source of

Information (Lectures 1 to 5)
Instructions:
Please read the following instructions carefully before submitting assignment:
 Assignment should be submitted on VU-LMS on or before the due date.
 Assignment should be completed by your own efforts; it should not be copied from
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 If the submitted assignment does not open or file is corrupt, it will not be graded.
For any query about the assignment, contact at cs507@vu.edu.pk

Question No 1: Marks: 10
Different management styles work in different situations. What management style matches if as a leader
you:
1. Tell others what to do
2. Gather others feedback before deciding
3. Influence others to do things your way
4. Make sure the majority rules
5. Make your own decisions
6. Suggest a decision to others
7. Ask the employees to obey orders without explanations
8. Rely on your own judgment
9. Ask others to brainstorm choices
10. As a CEO does not consult employees for input

Question No 2: Marks: 5 (2+3).
Identify whether “social media” is an internal source of information or external source of information for making business decisions and briefly explain the impact of social media in decision making process. Your answer should not exceed 100 words.
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Please Discuss here about this assignment.Thanks

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Internal Sources - These are within the organization
External Sources - These are outside the organization


Internal Sources of Data
If available, internal secondary data may be obtained with less time, effort and money than the external secondary data. In addition, they may also be more pertinent to the situation at hand since they are from within the organization. The internal sources include

Accounting resources- This gives so much information which can be used by the marketing researcher. They give information about internal factors.


Sales Force Report- It gives information about the sale of a product. The information provided is of outside the organization.


Internal Experts- These are people who are heading the various departments. They can give an idea of how a particular thing is working


Miscellaneous Reports- These are what information you are getting from operational reports.

Thanks Tariq Bhai....For ur Kindness

If the data available within the organization are unsuitable or inadequate, the marketer should extend the search to external secondary data sources.


External Sources of Data
External Sources are sources which are outside the company in a larger environment. Collection of external data is more difficult because the data have much greater variety and the sources are much more numerous.

External data can be divided into following classes.

Government Publications- Government sources provide an extremely rich pool of data for the researchers. In addition, many of these data are available free of cost on internet websites. There are number of government agencies generating data.

These are:
Registrar General of India- It is an office which generate demographic data. It includes details of gender, age, occupation etc.


Central Statistical Organization- This organization publishes the national accounts statistics. It contains estimates of national income for several years, growth rate, and rate of major economic activities.

Annual survey of Industries is also published by the CSO. It gives information about the total number of workers employed, production units, material used and value added by the manufacturer.


Director General of Commercial Intelligence- This office operates from Kolkata. It gives information about foreign trade i.e. import and export. These figures are provided region-wise and country-wise.
Ministry of Commerce and Industries- This ministry through the office of economic advisor provides information on wholesale price index. These indices may be related to a number of sectors like food, fuel, power, food grains etc. It also generates All India Consumer Price Index numbers for industrial workers, urban, non manual employees and cultural labourers.


Planning Commission- It provides the basic statistics of Indian Economy.
Reserve Bank of India- This provides information on Banking Savings and investment. RBI also prepares currency and finance reports.


Labour Bureau- It provides information on skilled, unskilled, white collared jobs etc.
National Sample Survey- This is done by the Ministry of Planning and it provides social, economic, demographic, industrial and agricultural statistics.


Department of Economic Affairs- It conducts economic survey and it also generates information on income, consumption, expenditure, investment, savings and foreign trade.


State Statistical Abstract- This gives information on various types of activities related to the state like - commercial activities, education, occupation etc.

 impact of social media in decision making process

Social media is increasing its penetration in our lives. So far the evidence suggests that in some situations the impact on individual and organizational decision making is extensive.

Social Media’s Impact on Business and Decision-Making by CEO’s and Managers:

1. Professionals tend to belong to multiple social networks for business purposes

2. The “Big Three” social networks, LinkedIn, Facebook and Twitter, have emerged as professional networks

3. Mobile is emerging as a frequent professional networking access point

4. Traditional decision-making processes are being disrupted by social media

5. Professional networks are an increasingly essential decision-support tool

6. High levels of trust exist in information obtained from online networks

7. Changes are taking place in organizations’ internal and external use of social media

8. There is a recognized need for peer input in decision-making.

9. Connecting and collaborating are key drivers for professionals’ use of social media

10. "Final" decision makers are more likely to indicate that they conduct research via a search engine (82 percent vs. 70 percent of Decision Supporters)

11. Those professionals with more networks are more likely to gather opinions through their online network, read blogs and query the Twitter channel as early steps in the decision process

12. Younger respondents are more likely to read a company blog and to query the Twitter channel vs. older demographics

As per my opinion, following management styles matches the given cases in Q1:

  1. authoritative
  2. participative
  3. authoritative
  4. participative
  5. authoritative
  6. mixed (not sure)
  7. authoritative
  8. authoritative
  9. participative
  10. authoritative

As far as Q2 is concerned, as per my opinion social media is a source of internal as well as external source of information...

Google the topic "impact of social media in decision making process" for the idea of last part...

Kindly share your ideas too...

Regards...

please samra ap bat sakti hain ke kn se chapter se hai ye ?

The assignment cover lectures 1 to 5, 

but for, Q1: you can refer to lecture no. 04 specifically

sources of info. are discussed in lecture no. 01...

Regards...

koi tu thora ca solutn upload kry help k liye plzzzzzz

For 1st question....

I guess, these are the answers:

1. Authoritative 2. Mixed  3. Authoritative

4. Participative  5. Authoritative  6. Mixed

7. Authoritative  8. Authoritative  9. Participative

                          10. Authoritative

Pls do let me know, if its not ryt...!

ri8ly say

I think u r right

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