Professional Documents
Culture Documents
1.CONSUMER PRODUCTS
-appeals to the consumer emotions.
-appeals to the consumer desires.
-influences the buying decisions
with benefits feelings
2.INDUSTRIAL PRODUCTS
-appeals to the consumer benefits.
-appeals to the consumer ownership.
-influences the buying decisions
with the usage value
2) Why do many firms use a family brand? What are the risks associated with this
strategy if a new product is sub-standard?
Family branding is a MARKETING strategy that involves selling several related PRODUCTS under
one BRAND NAME. It is contrasted with individual branding in which each product in a portfolio is
given a unique identity and brand name.
There are often economies of scope associated with family branding since several products can
efficiently be promoted with a single advertisement or campaign. Family branding facilitates NEW
PRODUCT INTRODUCTIONS by providing a 'foot-in-the-door' in potential customers' evoked set.
When considering purchasing a new type of product, potential customers will tend to evoke in their
minds a product with a familiar brand name. Being a part of this evoked set could lead to trial purchase,
product acceptance, or other advantages.
-1) Brand image of parent brand act as Differentiating factor for product in extremely competitive
market.
-2) Extra cost of Brand creation is not required.
-3) Umbrella branding help to create dependent perception about product as parent Brand.
-4) Brands get abound in business.
-5) Umbrella branding helps to give positioning to product.
-6) Advertising and promotional efforts should be combined for all the products falling under family
brand.
-7) New product launch become easier and cheaper.
- 8) New product find ready recognition and market set up.
Family branding imposes on the brand owner a greater burden
-to maintain consistent quality and BRAND EQUITY .
-If the quality of one product in the brand family is compromised, it could reduce sales of all the others.
Family branding should only be done when a PRODUCT LINE consists of products of similar quality
components of such a
QUESTION: 1.What is the purpose of a computer aided decision support system? What are the major
system? How does it help the decision making process?
2.“In the end, the information system is recognized as a foundation for human judgment, in sight and
inventiveness”. Discuss in detail.
3.What are the types of Inventory Management Systems? Define them and partition further classes.
Also, briefly explain each subdivision.
4.Discuss in detail the different types of computer bases information system used in different functional
areas business by organizations. Who are the typical user of information system?
5.Describe the modern practices and emerging trends related do technology, design and security issues
involved in e-commerce.
1. What is the Purpose of a computer aided decision support system. What are the major components of
such a system. how does it help the decision making process.
Computerized decision support systems became practical with the development of minicomputers,
timeshare operating systems and distributed computing. In a technology field as diverse as DSS,
chronicling history is neither neat nor linear. Different people perceive the field of Decision Support
Systems from various vantage points and report different accounts of what happened and what was
important . As technology evolved new computerized decision support applications were developed and
studied. DSS into the five broad DSS categories including: communications-driven, data-driven,
document driven, knowledge-driven and model-driven decision support systems.
Knowledge-driven DSS
Knowledge-driven DSS can suggest or recommend actions to managers. These DSS are person-
computer systems with specialized problem-solving expertise. The "expertise" consists of knowledge
about a particular domain, understanding of problems within that domain, and "skill" at solving some of
these problems . These systems have been called suggestion DSS and knowledge-based DSS .
Web-based DSS
The World-wide Web and global Internet provided a technology platform for further extending the
capabilities and deployment of computerized decision support. The release of the HTML 2.0
specifications with form tags and tables was a turning point in the development of web-based DSS.
Corporate intranets were developed to support information exchange and knowledge management. The
primary decision support tools included ad hoc query and reporting tools, optimization and simulation
models, online analytical processing (OLAP), data mining and data visualization .
Vendors introduced new Web-based analytical applications. Many DBMS vendors shifted their focus to
Web-based analytical applications and business intelligence solutions.
Conclusions
Five specialized types of DSS, including
-text-oriented DSS,
-database-oriented DSS,
-spreadsheet-oriented DSS,
-solver-oriented DSS, and
-rule-oriented DSS.
Most people have criteria for judging the quality and authority of information based upon their
knowledge and
experience of traditional information resources, making use of conventional, well-understood indicators
of authority,
and of quality mechanisms such as editorial selection. These criteria are often used for reducing (or
“filtering”) the
amount of information people interact with when searching for information. In traditional information
retrieval,
such information reduction has been accomplished considering topicality as the basis of relevance
judgments.
However, a fair number of empirical studies on relevance judgment have revealed that people use many
criteria
other than topicality in their judgments of relevance . Two such criteria, related to one another, are
quality and authority.
The WWW has become one of the fastest growing electronic information sources. In the Web, people
are engaging
in interaction with more, and more diverse information than ever before, so that the problem of
information
reduction is more significant in the Web than any other information system, especially considering the
rate of
growth in the number of documents. This suggests that people, in the context of Web, need some ways
to
effectively manage the amount of information with which they directly engage.
these factors in routine ways to reduce the amount of information with which they directly interact.
But because of the dynamic nature of the Web, and the lack of control over publication on the Web, and
the general
lack of experience that most people have with the Web, people’s previous experience and previously
established
authority structures are likely no longer to be directly relevant for this purpose.
These issues define the problem area that we wish to investigate: overall, how to understand and how to
support
quality and authority decisions effectively in a large uncontrolled environment. The present study aims
to explore
information quality and authority in the Web environment by observing information seeking behaviors
with respect
to evaluation of quality and authority in the Web environment.
1. What are the characteristics of information problems and search activities that lead people to engage
in
information interaction on the Web?
2. How do people make judgments about information quality and authority?
3. Do people apply their evaluation criteria used in traditional information systems to those in the Web?
Information Quality
One of the problems in defining the concept of information quality is that there is little research that is
specifically
directed toward the concern of quality in the context of IR. This does not mean that the concern with the
quality of
information is new. In fact, there have been hidden bits and pieces concerning this concept, often in the
literature of
relevance and its criteria. For example, who proposes “personal utility” as a measure of retrieval
effectiveness, says that “utility is a catch-all concept involving not only topic-relatedness but also
quality, novelty,
importance, credibility, and many other things” . The studies on relevance criteria have revealed that
people
use “perceived quality” , “actual quality”, and “expected quality” as criteria for the selection or
rejection of documents. Accuracy/validity , goodness & usefulness , and accuracy & validity are
factors which have been associated
with the concept of quality.
The concept of information quality has been addressed in information science in a variety of ways other
than in
relevance studies. One way to discuss quality is “quality management” in library and information
services, often
used synonymously with “excellence” . Another way is to discuss “data quality,” primarily
associated with accuracy in the information product such as databases . Data quality
should be differentiated with “data system quality,” such as timeliness of update, system reliability,
system
accessibility, and system usability, and data security .
It is inferred that accuracy, currency, reliability and validity are associated with “data” or
“information” or “outputs” of a system while comprehensiveness is related to information systems.
Cognitive Authority
The term “authority” is found in many different forms throughout society, cutting across many
disciplines, including
philosophy, education, psychology, political science, law, religion, and information science.
The fundamental assumption of his concept of cognitive authority is that there are two kinds of
knowledge: one kind
is based on our own personal experience and the other is what others have told us --the latter type
“second-hand knowledge.” The problem here is that we do not count all “hearsay” from others as
equally reliable.
Some people know what they are talking about, others do not. Therefore, people need to decide “who
knows what
about what” . That is a question of cognitive authority.
Analysis
Securing relevant information and identifying key issues and relationships; relating and comparing data
from different sources; identifying cause/effect relationships.
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Judgement
Committing to an action after developing alternative courses of action that are based on logical
assumptions and factual information and that take resources, constraints and organisational values into
consideration.
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Decisiveness
Making timely decisions judgements; taking actions when appropriate; committing to position
INSIGHT
Enterprise information management is the superset that refers to the people, processes and technology
dedicated to gathering, managing, disseminating, leveraging and disposing of all information assets
used by an organization. Often referred to simply as information management, the term often refers to
treating information as a corporate asset to be valued and managed as any other investment. Information
management encompasses all forms of structured and unstructured information: databases, records,
email, documents, Web content, etc. that arises for use from inside or outside the four walls of the
organization. Because of the vast amounts and different types of content used by information workers,
and the difficulties of discovering, using and merging information, information management is essential
to managing operations, growth, productivity, efficiency and cost.
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INVENTIVENESS
THE INVENTIVENESS INFORMATION PROVIDES
A GOOD UNDERSTANDING OF THE FEELINGS / MOTIVES
OF THE OTHER PERSON.
Interview Question: Do you think delegation is a way to dump failure on the shoulders of a subordinate
or as a dynamic tool for motivating and training your team to realize their full potential?
Interview Answer Guide: Employee should see delegation as an effective management skill which
allows staff to use and develop their skills and knowledge to their full potential. A cynical view of this
skill is a warning sign.
Interview Question: What type of instructions would you give your staff if you decided to delegate?
Interview Answer Guide: Clear instructions with decisive standards; everyone should know what needs
to be done, when it should be finished, and the quality/detail needed. A job seeker should delegate the
objective, not the procedure.
Interview Question: What steps do you take to ensure that the work you delegate is successful?
Interview Answer Guide: Job seeker should explain he knows how to outline desired results, ask for
progress reports, sets interim deadlines, and does not overly focus on the methodology.
Interview Question: What do you think are the most common excuses team leaders use to not delegate?
Interview Answer Guide: They can do it better them selves,; can’t trust him/her to do it; he/she is not
qualified enough; they don’t want anymore added responsibilities; I don’t have time to show anyone
how to do it; No one to delegate to; I am the only one that can do it.
Interview Question: What should you assume about your co-workers if you want to delegate
successfully?
Interview Answer Guide: Job seeker should be able to view the positive potential of co-workers; does
not rule out the possibility that a co-worker may want more responsibility; co-workers want to learn
more; job seeker should recognize that the short term training investment will pay off in the long term.
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HERE IS SOME EXAMPLE: WHAT THE OTHER PERSON'S
FEELING OF THE SUBJECT : AMBITION.
Interview Question: How ambitious are you? And why do you think you are ambitious?
Interview Answer Guide: Job Seeker should demonstrate a real ambition that is also backed by a
persistence and real enthusiasm to succeed. However, check that this ambition is balanced by a sense of
clear-headiness and an innate common sense. Make sure that the candidate is ‘grounded’ in reality.
Interview Question: Do you think this company is ambitious and if so, why?
Interview Answer Guide: Job seeker should demonstrate a good knowledge of the company, especially
its past achievements, and have an optimistic and positive view of its future.
Interview Question: What important goals have you achieved in the past year?
Interview Answer Guide: Look for an answer that demonstrates real ambition that is also backed, not
only by persistence, but by a real enthusiasm to succeed. Try to determine if they have a record of
practical achievement.
3. What are the types of Inventory Management Systems? Define them and partition further classes.
also briefly explain each subdivision.
DEFINITION
Inventory-A physical resource that a firm holds in stock with the intent of selling it or transforming it
into a more valuable state.
Inventory System- A set of policies and controls that monitors levels of inventory and determines what
levels should be maintained, when stock should be replenished, and how large orders should be
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INVENTORY
Def. - A physical resource that a firm holds in stock with the intent of selling it or transforming it into a
more valuable state.
Raw Materials
Works-in-Process
Finished Goods
Maintenance, Repair and Operating (MRO)
INVENTORY IS COST
The average carrying cost of inventory across all mfg.. i
What does that mean?
Savings from reduced inventory result in increased profit.
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INVENTORY WISH IS ''ZERO INVENTORY''.
Reducing amounts of raw materials and purchased parts and subassemblies by having suppliers deliver
them directly.
Reducing the amount of works-in process by using just-in-time production.
Reducing the amount of finished goods by shipping to markets as soon as possible.
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INVENTORY POSITIONS IN ORGANIZATION
Raw Materials
Works in Process
Finished Goods
Finished Goods in Field
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REASONS FOR INVENTORY
Improve customer service
Economies of purchasing
Economies of production
Transportation savings
Hedge against future
Unplanned shocks (labor strikes, natural disasters, surges in demand, etc.)
To maintain independence of supply chain
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INVENTORY VALUE
Quality
Speed
Flexibility
Cost
Quality - inventory can be a “buffer” against poor quality; conversely, low inventory levels may force
high quality
Speed - location of inventory has gigantic effect on speed
Flexibility - location, level of anticipatory inventory both have effects
Cost - direct: purchasing, delivery, manufacturing
indirect: holding, stockout.
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FUNCTIONAL ROLES OF INVENTORY
Transit
Buffer
Seasonal
Decoupling
Speculative
Lot Sizing or Cycle
Mistakes
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INVENTORY MANAGEMENT SYSTEMS: MACRO ISSUES
closely monitor and control inventories to keep them as low as possible while providing acceptable
customer service.
Average Aggregate Inventory Value: how much of the company’s total assets are invested in inventory?
Ford:6.825 billion
Sears: 4.039 billion
Weeks of Supply
Ford: 3.51 weeks
Sears: 9.2 weeks
INVENTORY COSTS
Procurement costs
Carrying costs
Out-of-stock costs
PROCUREMENT COSTS
Order processing
Shipping
Handling
Purchasing cost: c(x)= $100 + $5x
Mfg. cost: c(x)=$1,000 + $10x
CARRYING COSTS
Capital (opportunity) costs
Inventory risk costs
Space costs
Inventory service costs
OUT-OF-STOCK COSTS
Lost sales cost
Back-order cost
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INDEPENDENT DEMAND
Independent demand items are finished products or parts that are shipped as end items to customers.
Forecasting plays a critical role
Due to uncertainty- extra units must be carried in inventory
DEPENDENT DEMAND
Dependent demand items are raw materials, component parts, or subassemblies that are used to produce
a finished product.
MRP systems---next week
-Order Quantity
-Economic Order Quantity
-Order Timing
-Reorder Point
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OBJECTIVES OF INVENTORY CONTROL
When should the company replenish its inventory, or when should the company place an order or
manufacture a new lot?
How much should the company order or produce?
Economic Order Quantity
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MODELS FOR INVENTORY MANAGEMENT:
1.EOQ
EOQ minimizes the sum of holding and setup costs
Q = 2DCo/Ch
D = annual demand
Co = ordering/setup costs
Ch = cost of holding one unit of inventory
2.SEATIDE
EOQ = 2DCo/Ch
D = annual demand = 6,000
Co = ordering/setup costs = $60
Ch = cost of holding one unit of inventory
$3.00 x 24% = .72
2 x 6,000 x 60
.72
720,000
.72
1,000
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REORDER POINT
based on reorder point - When inventory is depleted to ROP, order replenishment of quantity EOQ.
Basically EOQ with quantity discounts
To solve:
1. Write out the total cost equation
2. Solve EOQ at highest price and no discounts
3. If Qmin falls in a range with a lower price, recalculate EOQ assuming holding cost for that range.
Call this Q2.
4. Evaluate the total cost equation at Q2 at the next highest price break point.
OR Use a spreadsheet
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PERIODIC REVIEW MODEL
Response-based - replenish inventory with order sizes based on specific needs of each warehouse
determine requirements by forecasting demand for the next production run or purchase
establish current on-hand quantities
add appropriate safety stock based on desired stock availability levels and uncertainty demand levels
determine how much new production or purchase needed (total needed - on-hand)
STOCK CONTROL
replenishment, production, or purchases of stock are made only when it has been signaled that there is a
need for product downstream
requires shorter order cycle time, often more frequent, lower volume orders
determine stock requirements to meet only most immediate planning period (usually about 3 weeks)
SERVICE LEVEL
1- expected number of units out of stock/year
total annual demand
Item fill rate (IFR): the probability of filling
an order for 1 item from current stock
Weighted Average Fill Rate (WAFR): multiply
IFR for each stock item on an order weighted
by the ordering frequency for the item
4. Discuss in detail the different types of computer bases information system used in different
functional areas business by organizations. who are the typical user of information system?
-strategic planning
-delivering increased productivity
-reducing service cycles
-reducing product development cycles
-reducing marketing life cycles
-increasing the understanding of customers' needs
-facilitating business and process re-engineering.
SENIOR MANAGEMENT
Strategic business direction
IN ''MIS''
FUNCTIONAL INFORMATION SYSTEMS
These include
-PROVIDE INFORMATION FOR Identifying strategic shifts and positioning WITH clients in
anticipation of several possible outcomes – scenario planning --is a core part of our strategic and
tactical planning.
-PROVIDE INFORMATION WHICH helps organizations realize the most value from their assets.
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-PROVIDES INFORMATION TO CONDUCT
portfolio management, remarketing assistance, sale and lease negotiations, asset sourcing and
acquisition, appraisal and valuation, auditS and management and expert testimony.
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-PROVIDE THE RIGHT INFORMATION for a clear and disciplined approach to
financial planning is vital to ensure success.
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-PROVIDE INFORMATION FOR OBJECTIVE PLANNING.
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-PROVIDE INFORMATION FOR the execution of effective business planning and sound
management usually defines these differences in profitability.
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-PROVIDE INFORMATION TO analyze and prioritize the BUSINESS drivers to help to achieve
a superior competitive position. Vital to this process is an understanding of the economic advantages of
scale and scope.
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-PROVIDES INFORMATION FOR Operational excellence results in the attainment of world-class
quality and productivity in the delivery of services to customers
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-PROVIDES INFORMATION to develop a clear understanding of their operating practices and
associated costs, particularly relative to competitors.
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When running a BUSINESS, the right information systems can have a critical impact operating costs,
operating effectiveness, and customer satisfaction.
These include
-procurement planning
-raw material planning/ inventory
-production planning
-warehousing / finished goods inventory planning
-order processing/ order servicing.
etc etc
8.Financial Information Systems
-financial planning
-investment planning
-Return on investment planning
-cashflow planning
etc etc
*recruitment data
*selection data
*performance appraisal data
*performance management system data
*training programs data
*development programs data
*career planning data
*job rostering data
*promotions data
*career development plan data
*succession planning data
*job rotation data
*job enrichment data
*job multiskilling data
*compensation plans
*compensation package development plans
*staff leave management record
*termination records management record
*international staff records
etc etc
. Describe the modern practices and emerging trends related do technology, design and security issues
involved in e - commerce.