Management Answers

List down briefly the various inventory management techniques prevalent in the industry. Discuss how some of these techniques would be applicable to an Automobile Service Shop in effective management of their inventories; i.e Spares, Consumables, etc (assume several inventories of your choice). 

1.a According to one survey in India, 75% of Instagram users love REELS. Suppose that 25 Instagram users (randomly selected) have been approached in the university located in vile parle. They have been asked about their status of like/ dislike the Instagram- REELS. a) What is the probability that Exactly 15 of them would agree with the claim (or said they love Insta-REELS)? b) What is the probability that Exactly 20 of them would agree with the claim (or said they love Insta-REELS)?

1.b. ‘Bhartdarshan’ is an Internet-based travel agency wherein customers can see videos of the cities they plan to visit. The number of hits daily is a normally distributed random variable with a mean of 10,000 and a standard deviation of 2,400. a. What is the probability of getting more than 12,000 hits? b. What is the probability of getting fewer than 9,000 hits?

Three airlines serve a Srinagar. Airline ‘Amira’ has 50% of all the scheduled flights, airline ‘Biyas’ has 30%, and airline ‘chinar’ has the remaining 20%. Their on-time rates are 80%, 65%, and 40%, respectively. 

Part 1) Draw the Probability tree diagram. (Note: You may use any software for this, like MS paint, MS office, etc.)

Part 2) A plane has just left on time. What is the probability that it was airline ‘Amira’?

(Answer requires Introduction, Application & Conclusion)

Gavit and Vinayak are partners who started a partnership under the Partnership Act, 1932. There are differences arisen between them and they have approached you to advise them to resolve their differences:

a. Please suggest ways how they can resolve their differences without approaching conventional court of laws

b. Please elaborate the advantages of resolving their differences without approaching conventional court of laws 

(Answer requires Introduction, Application & Conclusion)

Please give two (2) real life instances where Indian employee related laws have ensured protection of welfare of employees. 

(Answer requires Introduction, Application & Conclusion)

Please explain the different types of instruments under which a company under Companies Act, 2013 can raise capital. 

(Answer requires Introduction, Application & Conclusion)

Lisa, a commerce graduate, has been working in the field of Finance for the last 3 years. She now decides to do her post-graduation in management from a reputed college. As a part of her documents, Lisa requires a recommendation letter from her former professor. Imagining yourself to be Lisa, write a letter to your former professor requesting him to write a recommendation letter for you. Take care to refresh the professor’s memory because you had passed out three years ago. Creatively assume any other details that you need for writing the request letter. 

(Answer requires Introduction, Application & Conclusion)

You are the Team Leader with Amazon. A new group of interns has joined the company. You have been given the responsibility of explaining them how to draft business messages. You explain them about, ‘Adapting the message to Your Audience.’ This can be done by -  Using the You Attitude;  Maintaining Standard of Etiquette;  Emphasizing the Positive and  Using Bias Free Language. Explain these giving appropriate examples of each. 

For the following transactions, analyze the accounting transactions using the accounting

equation framework

1. Introduced Rs500000 through a cheque by the Owner as the Initial capital in the

business

2. Purchased goods on credit from Ms. Ritu at Rs 40000

3. Paid Rs 10000 as salary to the employees

4. Invested Rs200000 in a fixed deposit account

5. Paid school fees of the kid Rs 25000, from the business’s bank account.

For the following transactions, analyze the accounting transactions using the accounting

equation framework

1. Introduced Rs500000 through a cheque by the Owner as the Initial capital in the

business

2. Purchased goods on credit from Ms. Ritu at Rs 40000

3. Paid Rs 10000 as salary to the employees

4. Invested Rs200000 in a fixed deposit account

5. Paid school fees of the kid Rs 25000, from the business’s bank account.