ANS 1 A

Identifying and communicating a clear vision is one of the most important functions a business leader can perform. All business
leaders should understand the basic elements of visioning and how to communicate a clear vision.

Creating a clear and effective vision delivers many benefits to your business. Not only does a clear, shared vision help define
the values of your company and its employees, but it also helps guide the behaviour of all employees. A strong vision also
leads to improve productivity and efficiency.

With a clearly communicated vision, your business will facilitate buy-in from its employees and create a sense of shared vision
that will enable the organization to realize the benefits associated with a strong sense of vision.

The Benefits of Creating a Vision

A vision is an idealized picture of the future of the business or organization. This can bring many benefits to you.

1. Visioning is the first step in strategic planning.

2. A vision shared by all the members of your business can help all members set goals to advance the organization.
3. A vision can also motivate and empower employees.
4. Without a strong vision, strategic plans cannot be properly delineated since there is no guiding principle or ideal to plan.
5. A vision brings meaning to peoples’ work, mobilizes them to action, and helps them decide what to do and what not to do in
the course of their work.
6. An effective vision strikes a chord in people, motivates them by tapping their competitive drive, arouses desire for greatness
or interest in doing the right thing, tantalizes them with personal gain, or appeals to their need to make a difference in the
world.
7. A vision is an idealized picture of the future organization and it expresses the organization's reason for existence.
8. Visions grab people and then bring them into the fold.
9. When a leader's vision is effective and strong, employees and stakeholders get caught up in what they are doing, absorb
the vision, and commit themselves to the goals and the values of the leaders.

A good vision:
 Identifies direction and purpose
 Builds loyalty through involvement
 Sets standards of excellence that reflect high ideals and a sense of integrity
 Is persuasive and credible
 Inspires enthusiasm and encourages commitment
 Is well articulated and easily understood
 Is ambitious and calls for a shared commitment
 Challenges and inspires people to align their energies in a common direction
 Fits with the business' unique culture and values
 Results in efficiency and productivity
 Reflects the company's unique strengths

ANS 1 B
A mission statement is a statement of the purpose of a company, organization or person, its reason for existing.

The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide
decision-making. It provides "the framework or context within which the company's strategies are formulated." It's like
a goal for what the company wants to do for the world.

Effective mission statements start by cogently articulating the organization's purpose of existence.

Mission statements often include the following information:

 Aim(s) of the organization

 The organization's primary stakeholders: clients/customers, shareholders, congregation, etc.
 How the organization provides value to these stakeholders, for example by offering specific types of products and/or
services
 A declaration of an organization's sole core purpose. A mission statement answers the question, "Why do we exist?"
According to Bart,[2] the commercial mission statement consists of 3 essential components:
 1. Key market – who is your target client/customer? (generalize if needed)
2. Contribution – what product or service do you provide to that client?
3. Distinction – what makes your product or service unique, so that the client would choose you?

The mission statement can be used to resolve trade-offs between different business stakeholders. Stakeholders include:
managers & executives, non-management employees, shareholders, board of directors, customers, suppliers, distributors,
creditors/bankers, governments (local, state, federal, etc.), labour unions, competitors, NGOs, and the community or general
public. By definition, stakeholders affect or are affected by the organization's decisions and activities.

According to Vern McGinis, a mission should:

 Define what the company is

 Limited to exclude some ventures
 Broad enough to allow for creative growth
 Distinguish the company from all others
 Serve as framework to evaluate current activities
 Stated clearly so that it is understood by all

ANS 3 A
Boston Consulting Group (BCG) Matrix is a four celled matrix (a 2 * 2 matrix) developed by BCG, USA. It is the most renowned
corporate portfolio analysis tool. It provides a graphic representation for an organization to examine different businesses in it’s portfolio
on the basis of their related market share and industry growth rates. It is a two dimensional analysis on management of SBU’s (Strategic
Business Units). In other words, it is a comparative analysis of business potential and the evaluation of environment.

According to this matrix, business could be classified as high or low according to their industry growth rate and relative market share.

Relative Market Share = SBU Sales this year leading competitors sales this year.

Market Growth Rate = Industry sales this year - Industry Sales last year.

The analysis requires that both measures be calculated for each SBU. The dimension of business strength, relative market share, will
measure comparative advantage indicated by market dominance. The key theory underlying this is existence of an experience curve and that
market share is achieved due to overall cost leadership.

BCG matrix has four cells, with the horizontal axis representing relative market share and the vertical axis denoting market growth rate. The
mid-point of relative market share is set at 1.0. if all the SBU’s are in same industry, the average growth rate of the industry is used. While, if
all the SBU’s are located in different industries, then the mid-point is set at the growth rate for the economy.

Resources are allocated to the business units according to their situation on the grid. The four cells of this matrix have been called as stars,
cash cows, question marks and dogs. Each of these cells represents a particular type of business.

1. Stars- Stars represent business units having large market share in a fast growing industry. They may generate cash but because of
fast growing market, stars require huge investments to maintain their lead. Net cash flow is usually modest. SBU’s located in this
cell are attractive as they are located in a robust industry and these business units are highly competitive in the industry. If
successful, a star will become a cash cow when the industry matures.
2. Cash Cows- Cash Cows represents business units having a large market share in a mature, slow growing industry. Cash cows
require little investment and generate cash that can be utilized for investment in other business units.
3. Question Marks- Question marks represent business units having low relative market share and located in a high growth industry.
They require huge amount of cash to maintain or gain market share. They require attention to determine if the venture can be viable.
Question marks are generally new goods and services which have a good commercial prospective.
4. Dogs- Dogs represent businesses having weak market shares in low-growth markets. They neither generate cash nor require huge
amount of cash. Due to low market share, these business units face cost disadvantages.

ANS 3 B

SWOT Analysis is a useful technique for understanding your Strengths and Weaknesses, and for identifying both the Opportunities open to
you and the Threats you face.
Used in a business context, a SWOT Analysis helps you carve a sustainable niche in your market. Used in a personal context, it helps you
develop your career in a way that takes best advantage of your talents, abilities and opportunities. (Clickhere for Business SWOT Analysis,
and here for Personal SWOT Analysis.)
Business SWOT Analysis
What makes SWOT particularly powerful is that, with a little thought, it can help you uncover opportunities that you are well placed to exploit.
And by understanding the weaknesses of your business, you can manage and eliminate threats that would otherwise catch you unawares.
More than this, by looking at yourself and your competitors using the SWOT framework, you can start to craft a strategy that helps you
distinguish yourself from your competitors, so that you can compete successfully in your market.
How to Use SWOT Analysis
Originated by Albert S Humphrey in the 1960s, SWOT Analysis is as useful now as it was then. You can use it in two ways - as a simple
icebreaker helping people get together to "kick off" strategy formulation, or in a more sophisticated way as a serious strategy tool.
Strengths:
 What advantages does your organization have?
 What do you do better than anyone else?
 What unique or lowest-cost resources can you draw upon that others can't?
 What do people in your market see as your strengths?
 What factors mean that you "get the sale"?
 What is your organization's Unique Selling Proposition (USP)?
Consider your strengths from both an internal perspective, and from the point of view of your customers and people in your market.
Also, if you're having any difficulty identifying strengths, try writing down a list of your organization's characteristics. Some of these will
hopefully be strengths!
When looking at your strengths, think about them in relation to your competitors. For example, if all of your competitors provide high quality
products, then a high quality production process is not a strength in your organization's market, it's a necessity.

ANS 4 A

Environmental analysis is the use of analytical chemistry and other techniques to study the environment. The purpose of this
is commonly to monitor and study levels of pollutantsin the atmosphere, rivers and other specific settings

Environmental Analysis & Policy major are trained broadly in the social sciences with a clearly defined specialization
in the environmental field. Students receive an extensive introduction to the principle energy, resource, and
environmental issues that confront society, and the analytical tools that are used to understand them. Such tools
include cost-benefit analysis, basic computer modeling skills, policy formulation and analysis, technology
assessment, and statistics. Students learn about the social and institutional framework in which environmental and
natural resource planning, management, and policy making take place. Students take classes in the natural and
physical sciences to ensure they understand the biophysical basis of environmental issues. Students are encouraged
to utilize environmental courses in special programs such as theWashington Internship Program and the School for Field
Studies. A number of students double major in related disciplines such as mathematics, economics, political science,
international relations, and geography.

There are many career options for students with a degree in environmental analysis & policy.Graduate school is
possible in several fields that include resource & environmental economics, law school, resource management, and
environmental policy. Students gain a strong set of analytical tools that are needed by a growing number of
government agencies, consulting firms, and nonprofit sectors that all deal with a wide range of environmental
analysis or energy and environmental policy making.

As outlined below, the curriculum consists of a set of core classes and a specialization area. With the assistance of
their faculty advisor, students choose an area of specialization in their junior year that allows them to focus on a
particular subfield of environmental analysis & policy.

ANS 4 B

Strategic Profits as my personal online business coach. Without a doubt, it was the wisest move I’ve made toward
building my own online business to date. Since I became a client of Strategic Profits I have work smarter, gained new
clients, provided more value to my existing clients, made more money, and worked a whole lot less in the process. It’s
no wonder that Rich Schefren, known to experts as the “Guru’s Guru”, has been featured in The Wall Street Journal,
NewsWeek, NBC News, Fox, and Discovery Channel. Moreover, Rich’s Schefren has received the approval of direct
response experts like Jay Abraham, Dan Kennedy, and John Carlton – all agree that whenever Rich Schefren, the
web’s foremost consultant for internet business owners, records a webinar or publishes a report everyone doing
business online better take note.

I could literally write a book telling you about the years I struggled to create a sustainable online business. If you’re
story is like mine, then you know that the years I’m speaking were filled with a greater share of disappointments than
achievements in regards to creating an online business. To be blunt: I was failing. Sure I made a few hundred dollars
here and there by doing some affiliate marketing or product resales, but in the larger scheme of things I was truly a
long way off towards achieving a sustainable internet marketing business. And that was until I saw Rich Schefren’s
free webinar training. This webinar open my eyes wide open to the reason why I was only achieving minimal results
despite working countless hours and spending several thousands of dollars on software products and affiliate
marketing education. In a nutshell, the reason for my shortcomings came down to the fact that I was not running my
business strategically. I was thinking like an “opportunity seeker” rather than as a “strategic entrepreneur”. If you
don’t know what these terms mean than I implore you to view this free webinar and watch Rich to explain the
difference.

Many new Internet entrepreneurs fall into the same exact track as I did. It’s the trap that Rich Schefren talks about in
his free training. It’s the difference between trying to capitalize on an opportunity and purposefully creating your own
opportunities. It’s the difference between letting others think for you and being a thought leader in your field. It’s the
difference between having some vague notion of your desired business outcome and having a crisp and clean picture
of what your final business goals are. This is the clarity that becoming a client of Strategic Profits has bought me and
my business.

ANS 6 A

ROLE OF STATEGIC LEARDER ARE AS BELOW:

Developing a Strategic Vision and Mission

Vision is the core of leadership and is at the heart of strategy. The leader’s job is to create the vision for the enterprise in a way
that will engage both the imagination and the energies of its people. “An effective leader knows that the ultimate task of
leadership is to create human energies and human vision,” succinctly notes Peter Drucker.[1] The vision must be tied to what
the firm values, and the leader must make this connection in a way that the organization can understand, grasp, and support.
Vision moves the enterprise; values stabilize the enterprise. Vision looks to the future, values to the past.
Setting Goals and Objectives
Good visions do not become reality by magic. The process of realizing the vision—strategy—is just as important to the firm as
having the foresight and the commitment to achieve the vision. Somewhere just beyond the horizon of vision and before the
hard edge of strategy kicks in begins the leader’s work of setting strategic goals and objectives for the organization. This
activity calls for disciplined thinking to narrow the organization’s focus.

Crafting a Strategy
The leader must now ask the question, “How are we as a firm going to employ our resources to achieve our goals?” Taking a
strategic position means accepting that there will be trade-offs with other positions. It also means choosing what not to do, as
well as what to do, because no company can compete successfully in every business segment featuring every variation of
product or service. “The essence of strategy is choosing what not to do,” says Michael Porter, groundbreaking author
of Competitive Strategy and creator of the “five forces” model of competition.[6] Tough choices must be made, and the leader
must be the one to force the issue.
Executing the Strategy
Leaders have primary responsibility for implementing the chosen strategy. While an action plan involves many discrete tasks,
at the core the leader must build an organization that can carry out the strategy.The leader builds both an
organizational culture and an organizational capability for executing strategy.
Evaluating Performance
How does the firm keep its strategy fresh? By keeping both the organization and its leadership agile. Gary Hamel and Liisa
Vlikangas coined the term “strategic resilience” to describe the firm’s ability to continuously anticipate and adjust to trends that
can permanently impair the earning power of the company. The goal is a resilient organization that is “constantly making its
future rather than defending its past.”
The Character of the Leader
What makes a good leader? A leader is someone people follow, but because people follow does not mean that the leader is
going in the right direction. History is filled with followers who were willingly led to destruction.
ANS 6 B

ROLE OF INFORMATION IN STATIGIC CONTROLE

The initial task in strategic management is typically the compilation and dissemination of the vision and the mission statement.
This outlines, in essence, the raison d'etre of an organization. Additionally, it specifies the organization's scope of activities and
the markets a firm wishes to serve.

Follow-on strategy formation is a combination of three main processes which are as follows:

 Performing a situation analysis, self-evaluation and competitor analysis: both internal and external; both micro-
environmental and macro-environmental.[clarification needed]
 Concurrent with this assessment, short- and long-term objectives are set. These objectives should include completion
dates.
Strategy evaluation and choice[
An environmental scan will highlight all pertinent aspects that affect an organization, whether external or sector/industry-based.
Such an occurrence will also uncover areas to capitalise on, in addition to areas in which expansion may be unwise.

These options, once identified, have to be vetted and screened by an organization. In addition to ascertaining the suitability,
feasibility and acceptability of an option, the actual modes of progress have to be determined. These pertain to:

The basis of competition[

Companies derive competitive advantage from how an organization produces its products, how it acts within a market relative
to its competitors, or other aspects of the business. Specific approaches may include:

 Differentiation, in which products compete by offering a unique combination of features.

 Cost, in which products compete to offer an acceptable list of features at the lowest possible cost..
Suitability
Suitability deals with the overall rationale of the strategy.

 Does the strategy address the mission?

 Does it reflect the organization's capabilities?
 Does it make economic sense?
Evaluation tools include strength, weakness, opportunity, threat (SWOT) analysis.

Feasibility[
Feasibility is concerned with whether the organization has the resources required to implement the strategy. Resources include
capital, people, time, market access and expertise.

Acceptability[
Acceptability is concerned with the expectations of the identified stakeholders (shareholders, employees and customers, etc.)
with the expected financial and non-financial outcomes. Return deals with stakeholder benefits. Risk deals with the probability
and consequences of failure. Employees are particularly likely to have concerns about non-financial issues such as working
conditions and outsourcing.

ANS 8 A

A management information system (MIS) provides information that organizations need to manage themselves efficiently and
effectively.[1] Management information systems are typically computer systems used for managing five primary components:
hardware, software,data (information for decision making), procedures (design,development and documentation), and people
(individuals, groups, or organizations). Management information systems are distinct from other information systems, in that
they are used to analyze and facilitate strategic and operational activities. [2] Academically, the term is commonly used to refer
to the study of how individuals, groups, and organizations evaluate, design, implement, manage, and utilize systems to
generate information to improve efficiency and effectiveness of decision making, including systems termed decision support
systems,expert systems, and executive information systems.[2] Most business schools (or colleges of business administration
within universities) have an MIS department, alongside departments of accounting, finance, management, marketing, and
sometimes others, and grant degrees (at undergrad, masters, and PhD levels) in MIS.

A management information system gives the business managers the information that they need to make decisions. Early
business computers were used for simple operations such as tracking inventory, billing, sales, or payroll data, with little detail
or structure[3] (see EDP). Over time, these computer applications became more complex, hardware storage capacities grew,
and technologies improved for connecting previously isolated applications. As more data was stored and linked, managers
sought greater abstraction as well as greater detail with the aim of creating significant management reports from the raw,
stored data. Originally, the term "MIS" described applications providing managers with information about sales, inventories, and
other data that would help in managing the enterprise. Over time, the term broadened to include: decision support
systems, resource management and human resource management, enterprise resource planning (ERP), enterprise
performance management (EPM), supply chain management (SCM), customer relationship management (CRM), project
management and database retrieval applications.

ROLE IN BUSINESS

The following are some of the ROLES hat can be attained for different types of management information systems. [7]

 Companies are able to highlight their strengths and weaknesses due to the presence of revenue reports, employees'
performance record etc. The identification of these aspects can help the company improve their business processes and
operations.
 Giving an overall picture of the company and acting as a communication and planning tool.
 The availability of the customer data and feedback can help the company to align their business processes according to
the needs of the customers. The effective management of customer data can help the company to perform direct
marketing and promotion activities.

ANS 8 B

Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best
practices from other industries. Dimensions typically measured are quality, time and cost. In the process of best practice
benchmarking, management identifies the best firms in their industry, or in another industry where similar processes exist, and
compares the results and processes of those studied (the "targets") to one's own results and processes. In this way, they learn
how well the targets perform and, more importantly, the business processes that explain why these firms are successful.

Benchmarking is used to measure performance using a specific indicator (cost per unit of measure, productivity per unit of
measure, cycle time of x per unit of measure or defects per unit of measure) resulting in a metric of performance that is then
compared to others.[citation needed]

Also referred to as "best practice benchmarking" or "process benchmarking", this process is used in management and
particularly strategic management, in which organizations evaluate various aspects of their processes in relation to best
practice companies' processes, usually within a peer group defined for the purposes of comparison. This then allows
organizations to develop plans on how to make improvements or adapt specific best practices, usually with the aim of
increasing some aspect of performance. Benchmarking may be a one-off event, but is often treated as a continuous process in
which organizations continually seek to improve their practices.

USE Mission and Vision Statements and Customer (Client) Surveys are the most used (by 77% of organizations of 20
improvement tools, followed by SWOT analysis(72%), and Informal Benchmarking (68%). Performance Benchmarking was
used by 49% and Best Practice Benchmarking by 39%.

1. The tools that are likely to increase in popularity the most over the next three years are Performance Benchmarking,
Informal Benchmarking, SWOT, and Best Practice Benchmarking. Over 60% of organizations that are not currently
using these tools indicated they are likely to use them in the next three years.
MCOM

ANS 1 A

Functions of Financial Management

1. Estimation of capital requirements: A finance manager has to make estimation with regards to capital requirements of the
company. This will depend upon expected costs and profits and future programmes and policies of a concern. Estimations have to
be made in an adequate manner which increases earning capacity of enterprise.
2. Determination of capital composition: Once the estimation have been made, the capital structure have to be decided. This
involves short- term and long- term debt equity analysis. This will depend upon the proportion of equity capital a company is
possessing and additional funds which have to be raised from outside parties.
3. Choice of sources of funds: For additional funds to be procured, a company has many choices like-
a. Issue of shares and debentures
b. Loans to be taken from banks and financial institutions
c. Public deposits to be drawn like in form of bonds.

Choice of factor will depend on relative merits and demerits of each source and period of financing.

4. Investment of funds: The finance manager has to decide to allocate funds into profitable ventures so that there is safety on
investment and regular returns is possible.
5. Disposal of surplus: The net profits decision have to be made by the finance manager. This can be done in two ways:
a. Dividend declaration - It includes identifying the rate of dividends and other benefits like bonus.
b. Retained profits - The volume has to be decided which will depend upon expansional, innovational, diversification plans of
the company.
6. Management of cash: Finance manager has to make decisions with regards to cash management. Cash is required for many
purposes like payment of wages and salaries, payment of electricity and water bills, payment to creditors, meeting current liabilities,
maintainance of enough stock, purchase of raw materials, etc.
7. Financial controls: The finance manager has not only to plan, procure and utilize the funds but he also has to exercise control over
finances. This can be done through many techniques like ratio analysis, financial forecasting, cost and profit control, etc.

ANS 1 B

CONCEPT OF FINANCIAL MANAGMENTS ARE AS BELOW:

Cash Management
A goal of the cash management function is to make certain the business enterprise always has the resources it needs to meet
its financial obligations on time. A cash deficit compared to what the owner forecast can cause serious harm to the company’s
image and operations.
Planning and Forecasting
The financial management aspect of planning involves accurately forecasting the company’s revenues, expenses and resulting net profit.
The business owner uses the forecast -- sometimes called a budget -- as a tool to manage the company. Significant negative variances to
forecast indicate that the business environment and his company’s performance in the marketplace were not what he assumed they would be
when he created his annual plan. Analyzing these variances focuses his attention on changes he needs to make to his strategies or operations
to get the company back on course to reaching its goals.
Financial Reporting
A business owner and his management team require timely and accurate reports in order to make decisions and run the company effectively.
The staff members responsible for financial management must determine the key pieces of information the owner and his team need for
decision making. They then design reports to provide this information in a format that is most useful to the management team. The most
significant metrics vary by the type of company.
Capital Structure
Startup companies often need to obtain outside capital from wealthy individuals or venture capital firms in order to fund the
company until it reaches the breakeven point. As the company grows, it may need additional infusions of capital to fund
expansion. The financial management function determines the best form of capital for the venture -- debt, equity or a
combination -- how much is required and when it is needed. Larger companies with stable cash flow can borrow funds from
financial institutions rather than having to give up an equity share to investors in order to get the capital the company requires.
ANS 2 A

Under-capitalization refers to any situation where a business cannot acquire the funds they need. An under-capitalized
business may be one that cannot afford current operational expenses due to a lack of capital, which can trigger bankruptcy,
may be one that is over-exposed to risk, or may be one that is financially sound but does not have the funds required to
expand to meet market demand.

REMEDIES

1. Splitting up at the shares – This will reduce the dividend per share
2. Issue of bonus share: this will reduce both the dividend per share and earning per share.
3. Both over-capitalization and under – capitalization are detrimental to the interests of the society.

ANS 2 B

Capital gearing has to do with how a business engages in the process of financial leverage. Essentially, this approach
focuses on how the company continues to remain solvent while acquiring new assets or diverting funds to support its
general operations. This process of capital gearing addresses both debt that is created for the short-term, as well
as long-term debt obligations.
The process of capital gearing involves the application of several common financial calculations. First, the company must
undergo risk analysis, to determine what type of impact a specific action will have on the overall stability of the business.
The idea is to make sure that even if the proposed action does not yield the anticipated return, it will still not undermine
the existing operation, at least not to the point that the operation must close. The current relationship between what the
company owes and the amount of revenue it generates is also important, especially when dividends must be paid to
investors. Thus, calculating the current debt/equity ratio is also important to the process of capital gearing, as it aids in
planning strategies for using assets to best advantage.
One of the ways to understand how capital gearing works is to consider what must occur when a company chooses to
purchase a competitor. Here, the buyer must look at the cost of the acquisition, including ancillary factors like legal fees,
or the settlement of debts owed by the business that is acquired. This cost must be compared to the amount of return
that the buyer hopes to achieve from the transaction, including how long it will take to retire any debt incurred in order to
make the purchase. By determining both the short-term and the long-term outcomes of the action, and its impact on the
ability of the company to retire any new debt associated with the purchase, the business can then develop a capital
gearing approach that will allow it to move forward without endangering any existing operations.

The exact process of capital gearing varies from one business to another, as well as between industry types. A larger
company may employ a different gearing strategy than a small business. In like manner, the approach used by a retailer
may be very different from that of a manufacturer. Regardless of the size or type of business involved, the capital gearing
strategy must be reevaluated from time to time, in order to keep the strategy in step with any changes that impact
revenue streams, such as customer demand, the state of the economy, or shifts within the industry.

ANS 4 A

Working capital forecasts means to estimate the value of working capital in one year. Following are main items which are
estimated in working capital forecasts.

1. Future Operating Costs

We estimated our future operating cost, more future operating cost means more need of cash and cash is the part of
working capital. It means, we need more working capital in that situation. For estimating this, w analyze past income
statements of company.

2. Forecast Revenue Growth

By sales and other revenue's trend analysis, we can forecast revenue growth. This will tell us, how will working capital
manage from revenue in future.

3. Changes of Working Capital

To analyze the past working capital changes is useful for working capital future forecast. Working capital is difference
 between current assets and current liabilities. If we check two years' working capital changes, we can estimate what
changes in working capital in next year.

ANS 4 B

Working capital management is the part of financial management. In working capital management, management of cash,
management of inventory, management of debtor and creditor will include. Following are its main notes. By studying
these working capital management notes, you will become perfect in managing your company's working capital. To study
these notes are very necessary for any student who is studying business because without management of working capital,
we can not operate our business with profitability.

Guided by the above criteria, management will use a combination of policies and techniques for the management of working
capital. The policies aim at managing the current assets (generally cash and cash equivalents, inventories and debtors) and
the short term financing, such that cash flows and returns are acceptable.

 Cash management. Identify the cash balance which allows for the business to meet day to day expenses, but reduces
cash holding costs.
 Inventory management. Identify the level of inventory which allows for uninterrupted production but reduces the
investment in raw materials - and minimizes reordering costs - and hence increases cash flow. Besides this, the lead times
in production should be lowered to reduce Work in Process (WIP) and similarly, the Finished Goods should be kept on as
low level as possible to avoid over production - see Supply chain management; Just In Time (JIT); Economic order
quantity (EOQ); Economic quantity
 Debtors management. Identify the appropriate credit policy, i.e. credit terms which will attract customers, such that any
impact on cash flows and the cash conversion cycle will be offset by increased revenue and hence Return on Capital
(or vice versa); see Discounts and allowances.
 Short term financing. Identify the appropriate source of financing, given the cash conversion cycle: the inventory is ideally
financed by credit granted by the supplier; however, it may be necessary to utilize a bank loan (or overdraft), or to "convert
debtors to cash" through "factoring".

ANS 6 A

METHODE OF CALCULATION COST OF DEBT

Cost of Debt Equation

Cost of debt is equal to the annual interest payment of the debt divided by its market value.

 Cost of debt equals the interest rate of the debt (composed of the risk-free_rate'>risk-free rate and
a credit risk premium) times one minus the corporate tax rate.
 Cost of debt is also equal to the annual interest payment of the debt divided by itsmarket value.
 The yield to maturity can be used in determining the cost of debt. It is is thediscount rate at which the sum of
all future cash flows from the bond are equal to the price of the bond.
 maturity

Date when payment is due.

 risk

The potential (conventionally negative) impact of an event, determined by combining the likelihood of the
event occurring with the impact, should it occur.

 internal rate of return

 IRR. The rate of return on an investment which causes the net present value of all future cash flows to be
zero.

ANS 6 B

Financial leverage can be defined as the degree to which a company uses fixed-income securities, such as debt
and preferred equity. With a high degree of financial leverage come high interest payments. As a result, the
bottom-line earnings per share is negatively affected by interest payments. As interest payments increase as a
result of increased financial leverage, EPS is driven lower.

As mentioned previously, financial risk is the risk to the stockholders that is caused by an increase in debt and
preferred equities in a company's capital structure. As a company increases debt and preferred equities,
interest payments increase, reducing EPS. As a result, risk to stockholder return is increased. A company
should keep its optimal capital structure in mind when making financing decisions to ensure any increases in
debt and preferred equity increase the value of the company.

Degree of Financial Leverage

This measures the percentage change in earnings per share over the percentage change in EBIT. This is known
as "degree of financial leverage" (DFL). It is the measure of the sensitivity of EPS to changes in EBIT as a
result of changes in debt.

Formula

DFL = percentage change in EPS or EBIT

percentage change in EBIT EBIT-interest

A shortcut to keep in mind with DFL is that, if interest is 0, then the DLF will be equal to 1.

ANS 8

I)CURRENT LIBLETIES:

Current liabilities are what a company currently owes to its suppliers and creditors. These are short-term debts, all due in
less than a year. Paying them off normally requires the company to convert some of its current assets into cash.

Beyond simply being bills to pay, liabilities -- confusing as this might sound -- are also a source of assets. Any money
that a company pulls from a line of credit, or postpones paying from its accounts payable, is an asset that can be used to
grow the business.

There are five main categories of current liabilities:

 Accounts payable
 Accrued expenses
 Income tax payable
 Short-term notes payable
 Portion of long-term debt payable

II) A current asset is cash or any asset that can be reasonably converted to cash within one year.

A balance sheet item which equals the sum of cash and cash equivalents, accounts
receivable, inventory, marketable securities, prepaid expenses, and other assets that could be converted
to cash in less than one year. A company's creditors will often be interested in how much that company
has in current assets, since these assets can be easily liquidated in case the company goes bankrupt. In
addition, current assets are important to most companies as a source of funds for day-to-day operations.
III) projected balance sheet USE TO forecast anticipated assets, liabilities, and equity and compare them with historical
values.

Creating a projected balance sheet for a startup can be an incredibly complex task. Do you know what the hardest part
is? To get the balance sheet to BALANCE! I speak from experience because I spent hours and hours trying to get our
financial projection model that is used with our financial forecasting tool – ProjectionHub, to balance and tie in with our
projected cash flow and profit and loss.
Although you could just use ProjectionHub or other Excel templates that help you create a balance sheet, this post is to
help those of you that want to create a custom financial projection model and need to build your balance sheet from
scratch.
 Blib

Ans 3
A bibliography is a list of books, articles, and other sources you use when researching a topicand writing a paper. The
bibliography will appear at the end of your paper.
The bibliography is sometimes called Works Cited or Works Consulted.
Bibliography entries must be written in a very specific format, but that format will depend you the particular style of writing
you use. Your teacher will tell you which style to use, and for most school papers these will be either MLA, APA, or Turabian
style.
Bibliography entries will include:
 Author
 Title of your source
 Publication information
 Date
Your entries should be listed in alphabetical order.
The main purpose of a bibliography entry is to give credit to other authors whose work you've consulted in your research.
Another purpose of a bibliography is to make it easy for a curious reader to find the source you've used.
Bibliography entries are usually written in a hanging indent style. This means that the first line of each citation is not
indented, but subsequent lines of each citation are indented.
TYPES & USE OF BIBLOGRAPHY
UNIVERSAL BIBLIOGRAPHY
A bibliography that includes everything published or issued in a subject field regardless of date of publication.
NATIONAL BIBLIOGRAPHY
 A bibliography that lists everything published (and possibly distributed) in a given country.
 A record of of the publications of a country, typically published by its national library. Some countries, however, include
works about the countru and/or works by authors resident and/or born in and/or ethnic nationals of the country.

TRADE BIBLIOGRAPHY
A bibliography compiled primarily to aid the book trade by supplying information as to what books are in print or for sale; when,
where, and by whom they were published; and their price.
SUBJECT BIBLIOGRAPHY
 A bibliography that lists materials relating to a specific topic.

Descriptive Bibliography[
Fredson Bowers described and formulated a standardized practice of descriptive bibliography in his Principles of
Bibliographical Description (1949). Scholars to this day treat Bowers' scholarly guide as authoritative. In this classic text,
Bowers describes the basic function of bibliography as, "[providing] sufficient data so that a reader may identify the book
described, understand the printing, and recognize the precise contents"
Analytical bibliography[
This branch of the bibliographic discipline examines the material features of a textual artifact – such as type, ink, paper,
imposition, format, impressions and states of a book – to essentially recreate the conditions of its production. Analytical
bibliography often uses collateral evidence – such as general printing practices, trends in format, responses and non-
responses to design, etc. – to scrutinize the historical conventions and influences underlying the physical appearance of a text.
The bibliographer utilizes knowledge gained from the investigation of physical evidence in the form of a descriptive bibliography
or textual bibliography.[9] Descriptive bibliography is the close examination and cataloging of a text as a physical object,
recording its size, format, binding, and so on, while textual bibliography (or textual criticism) identifies variations – and the
aetiology of variations – in a text with a view to determining "the establishment of the most correct form of [a] text
Bibliography as a field of study
Bibliography is a specialized aspect of library science (or library and information science, LIS) and documentation science. The
founder of documentation, Paul Otlet wrote about "the science of bibliography".[12][13] However, there have recently been voices
claiming that "the bibliographical paradigm" is obsolete, and it is not today common in LIS. A defense of the bibliographical
paradigm was provided by Hjørland (2007).[14] The quantitative study of bibliographies is known as bibliometrics, which is today
an influential subfield in LIS.

ANS 4
An encyclopedia (also spelled encyclopaedia or encyclopædia)[1] is a type of reference work – a compendium holding a
summary of information from either all branches of knowledge or a particular branch of knowledge.[2] Encyclopedias are divided
into articles or entries, which are usually accessed alphabetically by article name.[3] Encyclopedia entries are longer and more
detailed than those in most dictionaries.[3] Generally speaking, unlike dictionary entries, which focus onlinguistic information
about words, encyclopedia articles focus on factual information to cover the thing or concept for which the article name
stands.[4][5][6][7]

Encyclopedias have existed for around 2,000 years; the oldest still in existence, Naturalis Historia, was written in ca. AD 77
by Pliny the Elder. The modern encyclopedia evolved out of dictionaries around the 17th century. Historically, some
encyclopedias were contained in one volume, but some, such as the Encyclopædia Britannica or the world's
largestEnciclopedia universal ilustrada europeo-americana, became huge multi-volume works. Some modern encyclopedias,
such as Wikipedia, are electronic and are often freely available.

The word encyclopaedia comes from the Koine Greek ἐγκυκλοπαιδεία,[8] from Greek ἐγκύκλιος παιδεία,[9] and
istransliterated enkyklios paideia, meaning "general education": enkyklios (ἐγκύκλιος), meaning "circular, recurrent, required
regularly, general"[10] + paideia (παιδεία), meaning "education, rearing of a child",[11] but it was reduced to a single word due to
an error[12] by copyists of Latin manuscripts. Together, the phrase literally translates as "complete instruction" or "complete
knowledge".

The beginnings of the modern idea of the general-purpose, widely distributed printed encyclopedia precede the 18th century
encyclopedists. However, Chambers' Cyclopaedia, or Universal Dictionary of Arts and Sciences (1728), and
the Encyclopédie of Diderot and D'Alembert (1751 onwards), as well as Encyclopædia Britannica and the Conversations-
Lexikon, were the first to realize the form we would recognize today, with a comprehensive scope of topics, discussed in depth
and organized in an accessible, systematic method. Chambers, in 1728, followed the earlier lead of John Harris's Lexicon
Technicum of 1704 and later editions (see also below); this work was by its title and content "A Universal English Dictionary of
Arts and Sciences: Explaining not only the Terms of Art, but the Arts Themselves".

During the 19th and early 20th century, many smaller or less developed languages saw their first encyclopedias, using French,
German, and English role models. While encyclopedias in larger languages, having large markets that could support a large
editorial staff, churned out new 20-volume works in a few years and new editions with brief intervals, such publication plans
often spanned a decade or more in smaller languages.
ANS 5

A dictionary is a collection of words in one or more specific languages, often listed alphabetically (or by radical and
stroke for ideographic languages), with usage information,definitions, etymologies, phonetics, pronunciations, and other
information;[1] or a book of words in one language with their equivalents in another, also known as a lexicon.[1] According
to Nielsen (2008) a dictionary may be regarded as a lexicographicalproduct that is characterised by three significant features:
(1) it has been prepared for one or more functions; (2) it contains data that have been selected for the purpose of fulfilling those
functions; and (3) its lexicographic structures link and establish relationships between the data so that they can meet the needs
of users and fulfill the functions of the dictionary.

Types OF dictionary
Some dictionaries include each separate meaning in the order of most common usage while others list definitions in historical
order, with the oldest usage first.[18]

In many languages, words can appear in many different forms, but only the undeclined or unconjugated form appears as
the headword in most dictionaries. Dictionaries are most commonly found in the form of a book, but some newer dictionaries,
like StarDict and the New Oxford American Dictionary are dictionary software running on PDAs or computers. There are also
many online dictionaries accessible via the Internet.

Specialized dictionaries

According to the Manual of Specialized Lexicographies a specialized dictionary (also referred to as a technical dictionary) is a
lexicon that focuses upon a specific subject field. Following the description in The Bilingual LSP
Dictionary lexicographers categorize specialized dictionaries into three types. A multi-field dictionary broadly covers several
subject fields (e.g., a business dictionary), a single-field dictionary narrowly covers one particular subject field (e.g., law), and
a sub-field dictionary covers a singular field (e.g., constitutional law)

Another variant is the glossary, an alphabetical list of defined terms in a specialised field, such as medicine or science.

Examples:

 Medical dictionary
 Legal Dictionary

PURPOS OF dictionary

The Dictionaries are used for the pronunciation of words is not apparent from their spelling, such as the English language,
usually provide the pronunciation, often using the International Phonetic Alphabet. For example, the definition for the word
dictionary might be followed by the (American English) phonemic spelling: English dictionaries, however, often use other
systems, such as the English Phonemic Representation system, in which the pronunciation of dictionary is given as Yet others
use an ad hoc notation.

NEED OF dictionary

A dictionary is a very important tool for anyone who is learning a new language. With a
good dictionary you can do the following:

 look up the meaning of an English word you see or hear

 find the English translation of a word in your language
 check the spelling of a word
 check the plural of a noun or past tense of a verb
 find out other grammatical information about a word
 find the synonym or antonym of a word
 look up the collocations of a word
 check the part of speech of a word
 find out how to say a word
  find out about the register of a word
 find examples of the use of a word in natural language

To be a good dictionary user, however, it is not enough to know what to use the dictionary
for. You must also decide which is the best dictionary for any of the purposes listed above.
As well as this, you need to be able to find what you are looking for quickly; you need to be
sure that you have found what you were looking for; and, most importantly, you need to
know when to use your dictionary.

ANS 7

A yearbook, also known as an annual, is a type of a book published annually including to record, highlight, and commemorate
the past year of a school . Virtually all American, Australian and Canadian high schools, most colleges and
many elementary and middle schools in those countries publish yearbooks[citation needed]. The term may also refer to a book of
statistics or facts published annually.

The straightforward answer is that the yearbook is a publication that reflects the events and lives of people involved with a
school during that given year. Historically, yearbooks were little more than picture books, often including literary works and
art. With the explosion of desktop publishing in the last few decades, yearbooks have become even more journalistic,
reflecting not only the design and photographic capabilities now available, but including coverage that showcases
everything from reporting of events to first-person profiles.

In these ways, the yearbook still fulfills some standard roles: it is a memory book, a history book, a record book, and/or a
reference book. Some also believe that it is a public relations tool for that particular school. While a yearbook should be all
of the above, I would like to add three adjectives to the list of things a yearbook should be: honest, thorough and
accurate.

These descriptors may, at first glance, seem contradictory. For example, some believe that you cannot provide honest
coverage and still serve as a “public relations” tool. But the beauty of the yearbook is that the students can choose to
cover the topics in student life that reflect their student body without feeling an obligation to cover every aspect of their
lives. While not every area must be covered, one that should be included is any world-changing event. I looked at scores of
books after 9/11 to see how staffs chose to record and localize this life-altering event. What shocked me most was that
some staffs chose to not cover it at all. The yearbook, when used as a reference and history book, should allow future
generations to do more than check out weird hairstyles and outdated clothing.

FEATURES OF YEAR BOOK

My yearbook had art sections of pieces made by students that were awesome, plays and musicals, Also include prom and
some trips. My yearbook also had pictures of things that happened during that year in media and politics. Make it about the
memories of small things that happened. The things that when you look back, you think, oh I remember that!!! I hope this
helped!!!

Future (like, a section on what select students, randomly selected of course, would like to do in their future - what their plans
are)
What Inspires Me (then have pictures next to the students and their quote of what their inspiration is)
Polls on favorite books, movies, music, etc.
Popular movies/books/music for the year. And include a sampling of music, books, and movies from all genres.
Quotes that people like (either personal or larger in scale)
Polls on random things, like favorite colors, foods, drinks, things to do after school, etc.

Tools
Several software programs exist on the internet to create many yearbook layouts. Features include easy web-based creation of
pages, collages, personal profiles, and recordings of specific event situations. These methods of development allow for layout
artists, editors, and students to access the layout, speeding up the process of creating the yearbook.

Word processing
Paragraphs of text added to pages, also known as 'copy', are often typed and edited using a word processing program. The
copy is then saved to a hard drive or disc and later imported onto the pages. It is also possible to insert a copy straight into the
pages, themselves, as they are being designed.
ANS 8

Bibliographic control (BC) – refers to all activities by which information and information sources are organized in such a way
that they can be repeatedly retrieved.

Definition: Bibliographic control is the development and maintenance of a system of adequate recording of all forms of material
(published and unpublished, printed, audio-visual and otherwise), which add to the sum of human knowledge and information
(Davinson 1981:7).

Three elements of BC can be identified from this definition:

Organization of the system of recorded information;

Documents of human knowledge and information; and

Maintenance of this system.

The main purpose of bibliographic control is to list information sources in a systematic manner to enable us to become aware
of what information is available, and where it can be located.

BC includes the creation of instruments/aids/tools that refer us to specific information and information sources. These
instruments alert us to the existence of information and information sources and enable us to locate them.
Bibliographic control helps to organize information to facilitate retrieval. In order to achieve bibliographic control, a bibliographic
tool/bibliography must be must be compiled.

Information explosion
Expression used to describe the overwhelming quality of recorded information that continues to increase on a daily basis.

This increase in information and information sources has been matched by the development of various methods and
techniques of describing and recording information and information sources.

These technological developments have all contributed to the information explosion. The sheer abundance of information
sources makes complete BC difficult. Therefore, it is essential that decision be taken on what information is to be retained and
controlled for future retrieval.
This evaluation of documents for inclusion in a retrieval system is an important aspect of BC.

e.g.1 organizations that compile bibliographies take decisions regarding what information would be included in the
bibliographies;

e.g. 2 Libraries must decide which documents to include and exclude from their collections. Only those documents relevant to
the goals of the library would be included.
ANS 6

AUTHOR · Bertolt Brecht

TYPE OF WORK · Drama
GENRE · Epic theater, social drama
LANGUAGE · German
TIME AND PLACE WRITTEN · Written during Brecht's exile in Sweden, 1939
DATE OF FIRST PUBLICATION · 1941
PUBLISHER · Henschelverlag Kunst und Gesellschaft, Berlin
NARRATOR · None (though each scene includes a poster summarizing the future events)
CLIMAX · As a work of "epic theater," Mother Courage does not adhere to the Aristotelian model of plot and thus does not involve a structure
of rising and falling action, climax, and catharsis. In some sense, each scene exists for itself.

Mother Courage and Her Children, Brecht wrote, should teach the audience the lesson Courage herself fails to
learn at the end of the play. In Brecht's own words:

What is a performance of Mother Courage and Her Children primarily intended to show?
That in wartime the big profits are not made by little people. That war, which is a continuation of business by
other means, makes human virtues fatal even to their possessors. That no sacrifice is too great for the
struggle against war.
Wartime involves a capitalist structure in this play. The lower classes, the peasants, the soldiers, and the
traders, however, have no real way of gaining from it. If they enter willingly, like Courage, into its market,
they risk its dangers. If they refuse to enter its system, they might starve--and brutal military men might take
their goods whether or not they are participating.
Courage chooses to continue her involvement with the war. In Scene 7, she remains in its business dealings
with gusto. Yet, if Courage were to opt out, would there be any way of her feeding her children? What Brecht
presents as a lack of learning might, in the context of the Thirty Years' War, be a paradox. Nevertheless,
Courage has become thoroughly a merchant, and she represents the capitalism of the war more than any
common mother. She seems to have made profit her highest value--not the good things of life that money
should be able to buy.
Criticism is divided about whether or not the play achieves its author's intentions, on the page or in
performance. This disagreement often depends on the critical thinking that occurs in relation to the play--and
in this respect, the author's broad intentions are achieved anyway.

ANS 2 A

All for Love or, the World Well Lost, is a heroic drama by John Dryden written in 1677. Today, it is Dryden’s best-known and
most performed play. It is a tragedy written in blank verse and is an attempt on Dryden's part to reinvigorate serious drama. It is
an acknowledged imitation of Shakespeare’s Antony and Cleopatra, and focuses on the last hours of the lives of
its hero and heroine

Honor
In "All for Love," honor is a concept associated chiefly with Rome. Antony's military and political strength are inextricably tied to
his strong loyalties to the Roman empire.

Personal and political

Every character in this play is influenced by both personal and political motivations from the powerful Marc Antony to the rest of
the cast. Personal and political motives affect the central themes of love and honor. Marc Antony has an internal conflict in
choosing between his family, Octavia and his two daughters, and his mistress, Cleopatra.The main character, Marc Antony,
shirks his political duty for the sake of his love relationship with Cleopatra. His peers deem Marc Antony's actions to be
irresponsible and believe will be the cause of his downfall.

Emotional weaknesses
Despite holding great positions of power, both Antony and Cleopatra are weakened by their overwhelming love for one
another. Antony's ability to fulfill his military and political duties is hindered by his consistent emotional preoccupation with his
love, Cleopatra. Cleopatra rejects offers of other kingdoms, prevents Egypt's growth, neglects her queenly duties, and throws
her country into submission to the Romans all because of her infatuation with Antony.

Betrayal
Antony betrays Caesar by going back to Cleopatra and not staying with Octavia. Antony leaves his troops behind during battle
to follow Cleopatra; complete betrayal to his own troops.

Jealousy
Jealousy is predominately demonstrated in the interactions of Cleopatra towards Octavia. We can see through the passages
that Cleopatra is jealous not only of Octavia's affiliation with Mark Antony, but additionally her great beauty.

ANS 2B

WILLIAM CONGREVE, the most celebrated of the Restoration comedy writers, was the son of an English officer living in
Ireland, and was educated at Trinity, Dublin. His first play, The Old Bachelor, written at the age of twenty-three, was a great
success. The Double Dealer, following almost immediately, brought forth the praise of Dryden, the autocrat of English letters.
At the age of twenty-seven Congreve had gained a prestige scarcely less in importance than that of Dryden himself. Not only
as a comic wit, but as a writer of noble tragedy was he esteemed. He promised his hopeful managers to write a play a year, but
the promise was not kept. Love for Love appeared in 1695, followed byThe Mourning Bride two years later. After one more
comedy, The Way of the World, which seems to have been something of a failure on the boards, Congreve, at the age of
thirty, gave up writing for the stage. He affected to despise the profession of dramatist. Voltaire visited him, Dryden praised
him, and Pope dedicated to him his translation of theIliad. Swift, Steele, Lord Halifax, Mrs. Bracegirdle, and all the other
fashionable blades and ladies of the time were his friends; and he had the honor of being buried in Westminster Abbey.

In his praise it should be said that, for almost the first time in England, he brought to the service of the stage a painstaking art.
He cared much about the way a sentence was built, about balance, and getting the right shade of meaning. His diction is
exactly fitted for oral use; and his pictures of the world of wealth and fashion are diverting. Congreve is, perhaps, the only
English writer who can really be compared with Molière.

Restoration Comedy and Congreve

It is an English comedy of the period of the Restoration, stressing manners and social satire.

It follows the political and social turmoil of the English Civil War. The Restoration Age was characterized by a sense of loss and
cultural disillusion coupled with efforts to restore social stability and cohesion. These conditions were associated with a
diminishment in the influence of traditional institutions such as religion and the aristocracy and the rise of new institutions to
replace them. The audience of the restoration was upper class. The plays of Congreve are considered the greatest
achievement of Restoration comedy. They are comedies of manners, depicting an artificial and narrow world peopled by
characters of nobility and fashion, to which manners, especially gallantry, are more important than morals.

Congreve's view of mankind is amused and cynical. His characters are constantly engaged in complicated intrigues, usually
centering around money, which involve mistaken identities, the signing or not signing of legal documents, weddings in
masquerade, etc.
Read more at Buzzle: http://www.buzzle.com/editorials/1-3-2005-63692.asp