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MGT601 Current 2013 Subjective solved
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Usama Gee gud keep it up & thanks for sharing
Current papers subjective 2013 (Solved by Usama Gee)
Questions HIGHLIGHTED in Yellow Came in my paper 23rd Dec 2013
Non-HIGHLITED Questions are also important for Midterm Preparation
Q-External resources of information???
Q-What are Financial Requirments in Lending from lender ????
Q-Labor issues in SMEs. Marks 3 ????
Likewise, the intensity of the regulations is the second most important reason for firms to drift into the informal economy all over the world. Labour Laws and regulations in Pakistan are considered one of the most complicated areas with which any business enterprise deals. The present set of the labor laws was the result of checkered initiative of various governments to create a healthy business environment for the labor. Consequently, enterprises have to deal with 56 labor laws with some of them being industry specific.
Q-Write names of financial institutions you can use to finance SMEs? Marks 3
Q-Define value added in product with example. Marks
Value added: The worth placed on a product by a particular stage in the production process. For example. Take a case of restaurant the value added is the difference in price for what u pay to buy and at what u sell.
Q-What is government of Pakistan’s contribution towards human resource development?
The government has established a number of institutions that impart training and skill development. These institutions, Pakistan Institute of Management Science (PIMS), Provincial Vocational Training Councils Authority, Technical Training and Vocational Authority (TEVTA) Government Universities and various other support institutions have however remained rather passive regarding the shaping of human resource development for SME.
Q-Explain Construction phase problems. Marks 5
I. Acquisition of land; V. Prospecting about marketing;
II. Construction of building and other aspect of civil works;
III. Acquisition of machinery and its installation;
IV. Preliminary work about the sources of supply of raw materials, labor and managerial inputs;
A term used in environmental studies, as a drain having polluted water from on factory may be used by some other industry and suffer the bad effects of pollution. Externalities are one of the economic root causes for environmental damages, which require appropriate government intervention, it is frequently overlooked that there are many economic gains, which may be achieved from producing in an environmentally friendly manner. Reducing material waste can be one way of reducing cost. Saving resources such as water and energy does not only generate benefits at the national level but may translate into competitiveness and thus economic gain at the enterprise level.
Q-Lending from bank :
Access to equity and formal debt financing has repeatedly been identified as recurring constraint to SME growth and development. Commercial banks apply conservative policies in lending to SME. More, importantly the existing structure of financial sector was developed to serve medium to large enterprises which are organized as a formal business. Most banks prefer to hold risk free-income generating assets and lending to SME is unattractive due to a range of objective and subjective factors.
Q-Natural calamities: These problems are unexpected and can happen without any notice. Such as burglaries, earthquakes, fire etc.
Q-Environment post operative problems(5 marks)
• Environmental Causes:
O Changes in government policy;
O Changes in social or political conditions;
O Inflationary pressures leading to increases in the input cost.
Q-List down Post operative problems in SME:
• Lack or absence of profits • Experience factor • Sale Causes
• Expense Causes • Neglect Causes • Capital Causes
Q-The benefits that SME enjoy in environmental issues(5 marks)
Many OECD countries make use of channel of SME promotions in order to achieve improvements for the environment. For example, special credit lines may be provided in order to encourage the adoption of environmentally friendly technologies. Specific training courses are being offered to SME on waste reduction. ISO 14000 is actively being promoted in the European Union as one way of combining environmental concerns with quality and thus competitiveness.
Q-The benefits that SME not enjoy(2 marks)
Q-Any existing product can help creating new product or not. Discuss.
Novel Use of Known Products With ingenuity, it is possible to think of new uses of existing products e.g. Use of fly ash- a common effluent in thermal plants, to make bricks and light-weight concrete etc. Similarly, rice husk (a common product in rice sheller) could be used for making hardboards.
Small & Medium Enterprise Development Authority (SMEDA)
The government to promote the cause of SME development in the country has recently established SMEDA. SMEDA went one step ahead and used two variables to define SME’s in Pakistan. Following are the definitions of the SME’s:
• Less than 10 people employed • Productive assets limit of 2 million rupees.
• Between 10-35 people employed. • Productive assets limit of 20 million.
• Between 36-99 people employed • Productive assets limit of 40 million.
Q-Laws made by government to improve SME in country.
The government of Pakistan keeping in view the importance of SMEs has adopted multi -pronged approaches at the regional, sub regional and national levels. Initiatives at the regional and sub-regional levels include efforts to strengthen economic integration and cooperation. At the national level, structural adjustment programs have been in operation along with attempts at restructuring and diversifying the production base, integrating the informal sector into the economic mainstream and stimulating the increased participation at the enterprise level.
Higher literacy rates are essential to enhance the quality of production. It can be enhanced by multiple factors, which is why we need to effectively compete in the international economy that is extended to our local markets by the effects of opening up and WTO accession.
Q-Primary and secondary sources OR Kinds of relevant data for market analysis can be gathered from primary and secondary sources.
From a marketing perspective, the three primary sources of information are-
Secondary Sources: A number of publications provide overwhelming useful marketing information industry. Published reports of trade association, government agencies, and other. These are not geared to the requirement of an individual firm.
Q-How can we avoid the situation of Under-Capitalization
The evidence reveals that SME find it extremely difficult to grow because of their inability to delegate to soundly trained staff. The day the small businessman feels comfortable to delegate, SME start progressing. The low literacy level also determines the potential of our labor force. Higher literacy rates are essential to enhance the quality of production can be enhanced by multiple factors which is what we need to be able to effectively compete in the international economy which is being extended to our local markets by the effects of opening up and WTO accession.
Q-Internal resources of information
The following process may be adopted to assure the market opportunities of a product.
a) Identifying the Market Potential
b) Estimating Cost-volume Relationship to ascertain how various price levels may affect total sales volume
c) Sources of Market Information
It is an important method of establishing the overall feasibility of a new venture, significant market- testing methods include:
a) Displaying the product at trade fairs,
b) Test marketing to analyze the receptivity of the product, and
c) A market test can provide following information. d) Likely sales volume and profitability
e) Sales volume at different price levels
Q-The drawbacks of this Market Testing :
a) Delay in implementation
b) Premature exposure to competitors and c) Expensiveness