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Eco402 Assignment No.1 solution Spring 2012

Wednesday, April 25, 2012 Edit This
a) Equilibrium price of MP3 player in Japan.
Equilibrium price:
Qs = Qd
Qs = 1300 + 17 P
Qd = 1900 - 7P
1300 + 17 P = 1900 - 7 P
1317 = 1893 P
P = 1.437
Q = 1300 + 17 (1.437)
= 1300 + 24.429
=1324.42


....................

E D / P = P / Q Qp/P = 1.437 / 1324.42 (-7)
= -6.998
elasticity of price is inelastic
Elasticity of demand when price is 10
Ep = 10 / 1830 * -70 / 1830
= 5.464 * (- 0.03825)
= -2.090
elasticity of price is inelastic
Elasticity of demand when price is 20
Ep = 20 / 1760 * -70 / 1830
= 0.0113 * (-0.03825)
= -4.322
elasticity of price is inelastic
...........................

P = 6000-4Q
TC = 500,000 + Q2
Where Q is quantity of urea, P is price being paid by the farmers and TC is total cost which
is borne by urea industry.
Requirements:
Considering the above scenario, answer the questions stated below:

A. What price would be charged and what quantity would be supplied by the urea industry in order to maximize its profit.
Solution:
P = 6000-4Q
TC = 500,000 + Q2
Setting Price per Bag = Rs.2500
So,
P = 6000 - 4Q
2500 = 6000 - 4Q
4Q = 6000 - 2500
4Q = 3500



TC = 500,000 + Q2
TC = 500,000 + (put Q value here and the Square) 2

i. Price which is denoted by P Is 2500/bag
ii. Quantity which is Q is ....

B. What would be the maximum profit that can be earned by the urea industry?
Solution:
B. Use formula for this
Profit = Total Revenue - Total Cost

C. How much profit urea industry will earn after imposition of the new price by the
Government?
Solution:
C. same Answer as B

D. Being a student of Economics, suggest what production decision urea industry
should take in the short run as a result of imposition of price by the government.
Solution:
D. They have to increase the production and increase the cost of the product as government increases the cost of urea per bag .In the short run the equilibrium market price is determined by the interaction between market demand and market supply. A firm maximize profits when marginal revenue = marginal cost. Some firms may be experiencing sub-normal profits because their average total costs exceed the current market price. Other firms may be making normal profits where total revenue equals total cost
................................

a) Equilibrium price of MP3 player in Japan.
Equilibrium price:
Qs = Qd
Qs = 1300 + 17 P
Qd = 1900 - 7P
1300 + 17 P = 1900 - 7 P
1317 = 1893 P
P = 1.437
Q = 1300 + 17 (1.437)
= 1300 + 24.429
=1324.42

E D / P = P / Q Qp/P = 1.437 / 1324.42 (-7)
= -6.998
elasticity of price is inelastic
Elasticity of demand when price is 10
Ep = 10 / 1830 * -70 / 1830
= 5.464 * (- 0.03825)
= -2.090
elasticity of price is inelastic
Elasticity of demand when price is 20
Ep = 20 / 1760 * -70 / 1830
= 0.0113 * (-0.03825)
= -4.322
elasticity of price is inelastic

Mgt503 GDB No. 1 Spring 2012 Solution

Wednesday, April 25, 2012 Edit This
The Manager of iGlobal takes some effective steps to turn those customers’ frowns upside down. Some business problems are harder to fix than others. But very few problems can be as frustrating and difficult to address as an unhappy customer. That's because there's data copied from vu solutions dot com no single way to "fix" a broken customer relationship. Every situation and every customer is different. Success depends on your ability to listen, adapt, evolve, and rise to the challenge.

Yet there are important techniques that every small business can use to win back unhappy or dissatisfied customers. Put these methods to work, and you'll have the tools you need to turn even the most ardent critic into a loyal and vocal repeat customer. Taken some following steps:

I.             Work together with team leads to plan and execute projects, ensure that teams have appropriate product and technical specifications, direction, and resources to deliver products effectively by establishing realistic estimates for timelines while ensuring that projects remain on target to meet deadlines.

II.            Track and report the status of projects on various teams, acting as a gateway through which work should be assigned to appropriate teams while ensuring that project scope is adequately defined

III.           Demonstrate leadership abilities to our data copied from vu solutions dot com commercial clients with the deployment of software enhancements and fixes that are coordinated based on release schedules.

IV.          Evolve the existing software system applications and architecture in various areas as needed.

V.            Helping developers resolve problems both technical as well as human resources issues, tracking and approving vacation and personal days for employees within their teams and monitoring individual employees’ performance and relaying this to upper management. Provide leadership and guidance to coach, motivate, and lead team members to their optimum performance levels and career development.


Planning
Develop the project plan. Define the scope, requirements for expected results, human resources and materials. Develop time and cost estimates, and identify risk and quality measures. Create team building, communications, change and risk management plans.

Organizing
Select, purchase or contract resources identified in the project plan, including human and material resources, outside vendors and contractors with specific expertise.

Implementing
Implement activities to produce expected results. Test to ensure results meet stakeholder expectations. Use quality controls to identify variances and risk management to identify new risk.

Controlling
Track, monitor and control progress using project management tools and techniques. Compare projected versus actual results. Update project plan.
.........................................

Some more helping Material::::

1. Certainty

We experience certainty about a specific question when we have a feeling of complete belief or complete confidence in a single answer to the question.

Decisions such as deciding on a new carpet for the office or installing a new piece of equipment or promoting an employee to a supervisory position are made with a high level of certainty.

While there is always some degree of uncertainty about the eventual outcome of such decisions there is enough clarity about the problem, the situation and the alternatives to consider the conditions to be certain.

2. Uncertainty

A decision under uncertainty is when there are many unknowns and no possibility of knowing what could occur in the future to alter the outcome of a decision. We feel uncertainty about a situation when we can't predict with complete confidence what the outcomes of our actions will be. We experience uncertainty about a specific question when we can't give a single answer with complete confidence.

Launching a new product, a major change in marketing strategy or opening your first branch could be influenced by such factors as the reaction of competitors, new competitors, technological changes, changes in customer demand, economic shifts, government legislation and a host of conditions beyond your control.

These are the type of decisions facing the senior executives of large corporations who must commit huge resources.

The small business manager faces, relatively, the same type of conditions which could cause decisions that result in a disaster from which he or she may not be able to recover.

...........................

The Decision making situation is “Certainty” because of the following reasons or arguments.
> The business line is inactive.
> Product having old fashion.
> Product could not change the market demand & trends.
> Manager having the clearness and experience about the business line.
> Manager is reasonably sure about what would be happened when they make a decision. The information is available and is considered to he reliable, and the cause and effect relationships are known.

In a situation of “Uncertainty”, on the other hand, people have only a meager data base, they do not know whether or not the data are reliable, and they are very unsure about whether or not situation may change. Moreover, they cannot evaluate the interactions of the different variables.

In a “Risk” situation, factual information may exist, but it may be incomplete. To improve decision making, one may estimate the objective probabilities of an outcome by using, for example, mathematical models. On the other hand, subjective probability, based on judgment and experience, may be used.
........................
Risk: Risk occurs whenever we cannot predict an alternative’s outcome with certainty, but we do have enough information to predict the probability it will lead to the desired state.

> now if you see the given situation, there has been given enough info, which is the characteristic of risk not uncertainty.
> goal is clear "to revive the product line as well as to increase the market share". this is also the characteristic of risk situation.
> as the market trend is changing highly so there is uncertainty, as written in chapter 15. risk is characterized by the uncertainty in outcome, mentioned in chapter 15.
> in uncertainty and risk the outcome is uncertain, but the difference is that in uncertainty situation outcome can not be estimated, but in risk the probability or chance can be estimated by looking into the market trend, which is uncertain and highly risky.
....................
Solution:

Global is faced with the dilemma of an inactive business line. The product line was launched are old and the company did not respond to changing demands and trends. As a result, their business suffered heavy losses.


And there is risk that the news Business will be a successful venture or not. So there is high uncertainty in this situation but a little hope that company can re-establish itself with new IT product.

HRM624 VU Current Assignment No. 1 Spring 2012 Solution soon

Wednesday, April 25, 2012 Edit This
SEMESTER SPRING 2012 
Conflict Management (HRM 624) 
Assignment No. 1 
Due Date: 26 April 2012 
Marks: 15 Case 

The top management of a large fertilizer manufacturing company recently faced a sudden crisis as its HR manager resigned because of the increasing number of conflicts within the organization. The organization urgently hired a new HR manager who had ten years of professional experience of HR matters in the same sector. The newly hired HR manager was initially given a task of departmental restructuring for reducing the number of departmental conflicts and for clarifying the departmental goals – for which a new performance management system was also developed by him. Recent performance appraisal reports in the organization have shown that there have been increasing numbers of departmental conflicts, especially among the managers and employees, mainly because of the differences on performance matters. Moreover, last year’s turnover ratio has been significantly high, which is a real concern for the top management. Now this newly hired HR manager has been give the task to explore the actual reasons behind these issues and to settle the matter as soon as possible. The new HR manager thinks that he needs to establish mutually acceptable goals in the first phase –along with the preparation of individual job descriptions by the HR department for all the employees. For this, top management has approved his HR plan for the current year. HR manager informed all the departments about these actions and had the separate meetings with their managers. These newly designed actions of HR manager gave him a greater role of departmental monitoring and control. Managers of all the departments accepted this new plan and thought it to be a good for introducing a mechanism of procedural justice which will minimize the number of possible conflicts in the organization. But the manager of “Operations Department” thought that he should manage all the activities of his department including HR issues of his department by himself without any interference of HR manager. “Operations Manager” thought that he needs to have an increased control over his department and argues that his department has always achieved the targets; and he is least bothered about the number of conflicts in his department until he is achieving his goals. He also says that his department does not need any specific job descriptions from HR department and that he will allocate and monitor different tasks to his employees by himself from time to time. But on the other side, HR manager is more concerned about reducing the number of conflicts in all the departments by personally remaining in contact will all the employees; so that their professional and psychological development could be done on continuous basis. Now this new situation of an apparent dispute of HR Manager with the Operations Manager is a new issue for the top management. Top management would never want to lose another valuable manager once again and nor does the organization allow turnover on such minor issues. Top management wants HR manager to resolve this issue on urgent basis. Top management also wants HR manager not to disclose this conflict to other managers. Considering the above situation, answer the following questions on the basis of your knowledge that you have acquired so far from this course. Questions 1. Do you think that a mixed-motive situation exists in this dispute? If no then why; if yes then give two suggestions for the HR manager to enhance promotive interdependence with his disputant? (Marks: 10) 2. Do you think that this dispute can be resolved through “Alternate Dispute Resolution” (ADR)? If yes then which would be the best ADR method to resolve the dispute in this situation on long term basis? (Marks: 5) Instructions: Please read the following instructions carefully before preparing the assignment solution: • Please be precise while answering your question and avoid lengthy answers. • Totally avoid cheating as it will be graded as zero. Note: Only in the case of Assignment, 24 hours extra / grace period after the 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. Important Instructions: Please read the following instructions carefully before attempting the assignment solution. Deadline: • Make sure that you upload the solution file before the due date. No assignment will be accepted through e-mail once the solution has been uploaded by the instructor. Formatting guidelines: • Use the font style “Times New Roman”/ “Arial” and font size “12”. • It is advised to compose your document in MS-Word 2003. • Use black and blue font colors only. Solution guidelines: • Every student will work individually and has to write in the form of an analytical assignment. • Give the answer according to question. • For acquiring the relevant knowledge don’t rely only on handouts but watch the video lectures and use other reference books also. Rules for Marking Please note that your assignment will not be graded or graded as Zero (0) if: • It has been submitted after due date • The file you uploaded does not open or is corrupt • It is in any format other than .doc (MS. Word) It is cheated or copied from other students, internet, books, journals etc… Important Note for those courses where calculations and graphs are required. • Calculate to the point where calculation is being required. NO need to write irrelevant material or extra interpretation. • Draw diagrams by yourself. Do NOT copy from any source. NO need to write irrelevant material.

Solution soon

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