ME-803-C Entrepreneurship and Management Concepts - Dec 2024 Question Paper

Under each question, How to answer lists the points an answer should cover, outlined by CampusPrep from the syllabus. Check the details against your textbook.

1. 14 Marks
   Write a short note of Scope and functional areas of Management.
   How to answer

   • Define scope of management
   • List functional areas - production, marketing, finance, HR, etc.
   • Brief role of each functional area
2. 7 Marks
   aExplain the use of SWOT analysis with example.
   How to answer

   • Define SWOT - Strengths, Weaknesses, Opportunities, Threats
   • Explain use in strategic planning
   • Illustrate with business example
   • Interpretation for decision making
3. 7 Marks
   bHow do you print a blank SWOT analysis?
   How to answer

   • Meaning of blank SWOT template/matrix
   • Steps to draw/print 2x2 matrix
   • Labelling of four quadrants
4. 14 Marks
   Define Steven Alter's nine element work system model and its comparison with IPO (Input-Processing-Output) model, on ground of advantages and limitations.
   How to answer

   • Define Steven Alter's nine element work system model and list nine elements
   • Define IPO model - Input-Processing-Output
   • Compare on structure, scope, advantages and limitations
5. 7 Marks
   aExplain line, staff and matrix organization in brief and elaborate with examples.
   How to answer

   • Define line, staff and matrix organization
   • Explain structure, authority flow and characteristics
   • Give example of each type
6. 7 Marks
   bHow Herzberg two factor theory, expectation theory are useful for Management?
   How to answer

   • Outline Herzberg two-factor theory - hygiene and motivators
   • Outline expectancy theory - expectancy, instrumentality, valence
   • Explain managerial applications in motivation and job design
7. 7 Marks
   aExplain the role of 4 P's on social marketing.
   How to answer

   • Define social marketing and 4 P's
   • Explain Product, Price, Place, Promotion in social context
   • Role with social cause example
8. 7 Marks
   bWhat is the Break-Even point and which variable will influence the Break-Even analysis?
   How to answer

   • Define Break-Even point and formula
   • Explain fixed cost, variable cost, selling price variables
   • How changes in variables influence BEP
9. 7 Marks
   aHow is Six Sigma used in management process? What are the quality metrics of Six Sigma?
   How to answer

   • Define Six Sigma and DMAIC/DMADV process
   • Explain use in management process for defect reduction
   • List quality metrics - DPMO, sigma level, yield
10. 7 Marks
    bWhat are the objectives of Six Sigma in TQM? How does Six Sigma improves quality of life?
    How to answer

    • List objectives of Six Sigma in TQM - variation reduction, customer satisfaction
    • Explain link between quality improvement and quality of life
    • Give example of process improvement benefits
11. 7 Marks
    aWhy is it necessary to give allowances? What are the different types of allowances?
    How to answer

    • Define allowances in time study
    • Explain necessity - fatigue, delays, personal needs
    • List types - personal, fatigue, delay, special allowances
12. 7 Marks
    bEnlist the various sources of funds and funding agencies to support the new entrepreneurs.
    How to answer

    • Define need for entrepreneurial finance
    • List sources - own funds, banks, venture capital, government schemes
    • Name funding agencies supporting new entrepreneurs
13. 14 Marks
    Explain in Brief:

    1. a)Pay-back period
    2. b)Standard time and its utility
    3. c)Cost of quality
    4. d)SWOT analysis
    How to answer

    • Define pay-back period, standard time, cost of quality, SWOT
    • Give formula/meaning and utility of each
    • Brief example for each term