IGNOU BCOC 132 Free Solved Assignment 2022

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BCOC 132

BUSINESS ORGANISATION AND MANAGEMENT

Programme: BAG/2021/2022

Course Code: BCOC 132

Max. Marks: 100

BCOC 132 Free Solved Assignment

Section-A

(This section contains five questions of 10 marks each)

Q.1 What is technological innovation? Explain the various types of innovation. (4, 6)

Technological innovation is an extended concept of innovation. While innovation is a rather well-defined concept, it has a broad meaning to many people, and especially numerous understanding in the academic and business world. Innovation refers to adding extra steps of developing new services and products in the marketplace or in the public that fulfill unaddressed needs or solve problems that were not in the past. IGNOU BCOC 132 Free Solved Assignment 2022 Technological Innovation however focuses on the technological aspects of a product or service rather than covering the entire organization business model. It is important to clarify that Innovation is not only driven by technology.

Technological innovation is the process where an organization (or a group of people working outside a structured organization) embarks on a journey where the importance of technology as a source of innovation has been identified as a for increased market competitiveness new innovation-questions The wording "technological innovation" is preferred to "technology innovation". "

Technology innovation" gives a sense of working on technology for the sake of technology. "Technological innovation" better reflects the business consideration of improving business value by working on the product or services' technological aspects. IGNOU BCOC 132 Free Solved Assignment 2022 Moreover, in a vast majority of products and services, there is not one unique technology at the heart of the system. The combination, integration, and interaction of different make the product or service successful.

Types of Innovation

Incremental Innovation

Incremental Innovation is the most common form of innovation. It utilizes your existing technology and increases value to the customer (features, design changes, etc.) within your existing market. Almost all companies engage in incremental innovation in one form or another.

Disruptive Innovation

Disruptive innovation, also known as stealth innovation, involves applying new technology or processes to your company’s current market. It is stealthy in nature since newer tech will often be inferior to existing market technology. IGNOU BCOC 132 Free Solved Assignment 2022 This newer technology is often more expensive, has fewer features, is harder to use, and is not as aesthetically pleasing. It is only after a few iterations that the newer tech surpasses the old and disrupts all existing companies. By then, it might be too late for the established companies to quickly compete with the newer technology.

There are quite a few examples of disruptive innovation, one of the more prominent being Apple’s iPhone disruption of the mobile phone market. Prior to the iPhone, most popular phones relied on buttons, keypads or scroll wheels for user input. The iPhone was the result of a technological movement that was years in making, mostly iterated by Palm Treo phones and personal digital assistants (PDAs). IGNOU BCOC 132 Free Solved Assignment 2022 Frequently you will find that it is not the first mover who ends up disrupting the existing market. In order to disrupt the mobile phone market, Apple had to cobble together an amazing touch screen that had a simple to use interface, and provide users access to a large assortment of built-in and third-party mobile applications.

Architectural Innovation

Architectural innovation is simply taking the lessons, skills and overall technology and applying them within a different market. This innovation is amazing at increasing new customers as long as the new market is receptive. Most of the time, the risk involved in architectural innovation is low due to the reliance and reintroduction of proven technology. Though most of the time it requires tweaking to match the requirements of the new market.

In 1966, NASA’s Ames Research Center attempted to improve the safety of aircraft cushions. They succeeded by creating a new type of foam, which reacts to the pressure applied to it, yet magically forms back to its original shape. IGNOU BCOC 132 Free Solved Assignment 2022 Originally it was commercially marketed as medical equipment table pads and sports equipment, before having larger success as use in mattresses. This “slow spring back foam” technology falls under architectural innovation. It is commonly known as memory foam.

Radical innovation

Radical innovation is what we think of mostly when considering innovation. It gives birth to new industries (or swallows existing ones) and involves creating revolutionary technology. The airplane, for example, was not the first mode of transportation, but it is revolutionary as it allowed commercialized air travel to develop and prosper. IGNOU BCOC 132 Free Solved Assignment 2022 The four different types of innovation mentioned here – Incremental, Disruptive, Architectural and Radical – help illustrate the various ways that companies can innovate. There are more ways to innovate than these four. The important thing is to find the type(s) that suit your company and turn those into success.

Q.2 Explain the features of an ideal form of business organisation. Which form can be considered to be an ideal in all respects? (6, 4)

Ideal Form of Organization

These are the factors any business should consider before choosing their form of organization. After consideration of these factors the business should be able to make an appropriate and informed decision.

1] Ease of Formation

would be very easy formation of the chosen form of organization. The legal formalities, paperwork etc are very limited. And the cost and time involved should also be minimal.

Browse more Topics under Forms Of Business Organizations

· Sole Proprietorship

· Hindu Undivided Family

· Partnership

· Company

· Statutory Bodies and Corporations

· Co-operative Societies and Trusts

· LLP

2] Raising Capital/Finances

Every business needs to raise capital at the beginning. So the form of organization you choose must consider the amount of capital you need to raise. If the capital needed is huge, then your chosen ideal form of organization must provide security and assurance to the investors. IGNOU BCOC 132 Free Solved Assignment 2022 They will also want transparency and return on their investment.

On the other hand if the capital needed is reasonable then other factors should be considered. Like the ownership of the business must not be unnecessarily dilute. And there must be scope for future development and expansion requiring further financing.

3] Nature of Liability

Liability of the parties involved in the business can be limited or unlimited. In terms of risk, an ideal form of organization will have limited liability. So the liability of the owners is only limited to their contribution of the capital. Their personal assets cannot be attached in case of the business going bankrupt. On the other hand some forms of organization have unlimited liability. And the owners are liable even beyond their contribution to the company. So their personal assets and wealth can be in danger. This is not an ideal situation.

4] Scope of Control

In an ideal form of organization, the control will be with the owners of the firm. The management and ownership of a business must go hand in hand. If the owners cannot take independent decisions then the business will suffer.

5] Continuity and Stability

Stability and continuity is essential for the success of any business. So the chosen form of organization must provide both. Also this will allow the owners to plan for the future and carry out their long term plans without interruption or disturbance,

6] Flexibility

Every business functions in a very complex and dynamic business environment. So it becomes essential that they can be flexible in their operations to adapt and succeed in this changing environment. So an ideal form of organization will provide this flexibility.

7] Secrecy

Some businesses require secrecy about their records and processes. Other businesses will not suffer if there is transparency. So accordingly the owners must chose the form of organization that suits them best.

8] Lawful Business

This is a given. The choice of business must be legal. There can be no illegal activities or transactions and the form of organization you chose should safeguard this

Q.3 What do you mean by span of control? Discuss factors affecting span of control. (5, 5)

This is a crucial information for managers since they need to understand which are the resources available from a human resources standpoint. A hierarchical organizational structure normally has well defined boundaries that allow the manager to fully understand who are part of his team.

Nevertheless, when job positions are not properly designed, a confusing situation might emerge where a person has two or more bosses. IGNOU BCOC 132 Free Solved Assignment 2022 This is important to avoid since it creates conflicts within the structure and guidelines become unclear for the subordinate. A clear definition of the span of control allows the manager to plan, organize and divide the work load among his team according to his work method, assigning each team member the duties he thinks they are capable to handle, according to their skills, knowledge and academic background.

Managers can also implement metrics to evaluate the performance of their span and influence them to increase their productivity depending on the results obtained.

Factors affecting Span of Control

1. Nature of the work: If the work is simple and repetitive, the span of control can be wider. However, if the work requires close supervision the span of control must be narrow.

2. Ability of the manager: Some managers are more capable of supervising large numbers of people than others. Thus for a manager who possesses qualities of leadership, decision-making ability, and communication skill in greater degree the span of control may be wider.

3. Efficiency of the organisation: Organisations with efficient working systems and competent personnel can have larger span of control.

4. Staff assistants: When staff assistants are employed, contact between Organising supervisors and subordinates can be reduced and the span broadened.

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5. Time available for supervision: The span of control should be narrowed at higher levels because top managers have less time available for supervision. They have to devote the major part of their work time in planning, organising, directing and controlling.

6. Ability of the subordinates: Fresh entrants to jobs take more of a supervisor’s time than trained persons who have acquired experience in the job. Subordinates who have good judgement, initiative, and a sense of obligation seek less guidance from the supervisor.

7. Degree of decentralisation: An executive who personally takes many decisions is able to supervise fewer people than an executive who merely provides encouragement and occasional direction.

Q.4 What is the meaning of lease financing? Explain its advantages and limitations. (2, 8)

Meaning of Lease Financing— Lease financing is a contractual agreement between the owner of the asset who grants the other party the right to use the asset in return for a periodic payment and the other party who is the user of such assets. The owner of the party is known as Lessor and the user of the asset under such agreement is known as lessee and the rental paid is known as lease rental.

Advantages

1. Attention on Objectives: Planning helps in clearly laying down objectives of the organization. The whole attention of management is given towards the achievement of those objectives. There can be priorities in objectives, important objectives to be taken up first and others to be followed after them

2. Minimizing Uncertainties: Planning is always done for the future. Nobody can predict accurately what is going to happen. IGNOU BCOC 132 Free Solved Assignment 2022 Business environments are always changing. Planning is an effort to foresee the future and plan the things in a best possible way. Planning certainly minimizes future uncertainties by basing its decisions on past experiences and present situations

3. Better Utilization of Resources: Another advantage of planning is the better utilization of resources of the business. All the resources are first identified and then operations are planned. All resources are put to best possible uses.

4. Economy in Operations: The objectives are determined first and then best possible course of action is selected for achieving these objectives. The operations selected being better among possible alternatives, there is an economy in operations. The method of trial and error is avoided and resources are not wasted in making choices. The economy is possible in all departments whether production, sales, purchases, finances, etc.

5. Better Co-ordination: The objectives of the organization being common, all efforts are made to achieve these objectives by a concerted effort of all. The duplication in efforts is avoided. Planning will lead to better co-ordination in the organization which will ultimately lead to better results.

6. Encourages Innovations and Creativity: A better planning system should encourage managers to devise new ways of doing the things. It helps innovative and creative thinking among managers because they will think of many new things while planning. It is a process which will provide awareness for individual participation and will encourage an atmosphere of frankness which will help in achieving better results.

7. Management by Exception Possible: Management by exception means that management should not be involved in each and every activity. IGNOU BCOC 132 Free Solved Assignment 2022 If the things are going well then there should be nothing to worry and management should intervene only when things are not going as per planning. Planning fixes objectives of the organization and all efforts should be made to achieve these objectives. Management should interfere only when things are not going well. By the introduction of management by exception, managers are given more time for planning the activities rather than wasting their time in directing day-to-day work.

8. Facilitates Control: Planning and control are inseparable. Planning helps in setting objectives and laying down performance standards. This will enable the management to cheek performance of subordinates. The deviations in performance can be rectified at the earliest by taking remedial measures.

9. Facilitates Delegation: Under planning process, delegation of powers is facilitated. The goals of different persons are fixed. They will be requiring requisite authority for getting the things clone. Delegation of authority is facilitated through planning process.

Q.5 What is wealth maximization? Why is wealth maximisation preferred over profit maximisation. (4, 6)

Wealth maximization is the concept of increasing the value of a business in order to increase the value of the shares held by its stockholders. The concept requires a company's management team to continually search for the highest possible returns on funds invested in the business, while mitigating any associated risk of loss. This calls for a detailed analysis of the cash flows associated with each prospective investment, as well as constant attention to the strategic direction of the organization.

The most direct evidence of wealth maximization is changes in the price of a company's shares. For example, if a company spends funds to develop valuable new intellectual property, the investment community is likely to recognize the future positive cash flows associated with this new property by bidding up the price of the company's shares. Similar reactions may occur if a business reports continuing increases in cash flow or profits.

Wealth Maximization: Wealth maximization is one of the modern approaches, which involves latest innovations and improvements in the field of the business concern. The term wealth means shareholder wealth or the wealth of the persons those who are involved in the business concern. Wealth maximization is also known as value maximization or net present worth maximization. This objective is a universally accepted concept in the field of business. It removes technical disadvantages of the profit maximization.

Wealth maximization is superior to the profit maximization because the main aim of the business concern under this concept is to improve the value or wealth of the shareholders. Wealth maximization considers the comparison of the value to cost associated with the business concern. Total value detected from the total cost incurred for the business operation. It provides extract value of the business concern. IGNOU BCOC 132 Free Solved Assignment 2022 This concept considers both time and risk of business concern.

This criteria provides efficient allocation of resources and it also ensures the economic interest of the society. The wealth maximization criterion is based on cash flows generated and not on accounting profit. The computation of cash inflows and cash outflows is precise. Wealth maximization can be activated only with the help of the profitable position of the business concern.

So The goal of maximizing the value of the stock avoids the problems associated with the different goals we discussed above.in a simple language a good financial decisions increase the market value of the owners’ equity and poor financial decisions decrease it. So the financial manager best serves the owners of the business by identifying goods and services that add value to the firm because they are desired and valued in the free marketplace. IGNOU BCOC 132 Free Solved Assignment 2022 So it is a long term concept based on the cash flows rather than profits and hence there can be a situation where a business makes losses every year but there are cash profits because of heavy depreciation which indirectly suggests heavy investment in fixed assets and that is the real wealth and it takes into account the time value of money and so is universally accepted.

Section-B

(This section contains five short questions of 6 marks each)

Q.6 “A manager can be more effective if he is a good leader.” Comment. (6)

Managers: executers for a leader’s vision

Generally speaking, managers will administer the ideas of the leader. A leader will strive to innovate and champion new work policy, they will steer the direction of the business and have a level of courage that is required for good leadership . Imagine leaders as trendsetters and managers are those who follow those trends, making sure the workforce adheres to those trends. IGNOU BCOC 132 Free Solved Assignment 2022 It isn’t dictatorship, though employees who are confident in their leaders will understand that the trends that they are following are good trends. Trends that come from a place of understanding, innovation and expertise. Call it vision, if you will.

Managers are not purely facilitators to a leader’s vision, however. They help to further the vision of a leader by ensuring that employees follow. Managers are the guardians who oversee the activities of the business. It is important to have a team of good managers because they can be the difference between helping a company drive towards success or not. Leaders aren’t without blame either.

A bad leader can be even worse than a bad set of managers because their bad decisions can lead to the ending of a company. The most recent example is Marissa Meyer at Yahoo! During her polemical tenure, she attempted to revitalise Yahoo! through multiple (and unsuccessful) acquisitions. It didn’t take long for Yahoo! to be bought by Verizon for a meagre 4.8 billion dollars. Essentially what managers do is organise, facilitate, assign and define purpose. If you imagine that leaders ask the questions what and why, it is the managers who ask how and when.

The leader, reap the rewards

Although both intertwined, both have to think differently about how they approach their role – it isn’t just a case of following the leader blindly. Leaders have to believe in their ideas with all their gusto and convince people that this is the appropriate vision for the business and managers then have to ensure that the leaders vision is being carried out properly which requires high levels of strategic planning, delegation and its own sense of leadership, too.

Leaders often break the mould – while managers deal with complex systems and how best to utilise their team in those systems, leaders tend to find the best people to have around them and then the system is built around that.

A key difference between leaders and management then is that leaders inspire their workforce and that is invaluable. Leaders think more longterm, they take risks and seek transformation and shape a credible workforce. IGNOU BCOC 132 Free Solved Assignment 2022 Think of it like parliament, the leader of a political party is the one with the vision and the people who help him or her carry out that vision are the elected politicians. Managers, like members of parliament, are important for organisational success, no doubt, but it is the leaders who really steer a company (or political party) towards success with their vision. They go hand in hand – a good leader will need a good manager, of course, but finding the right leader is a lot more difficult than finding a good manager.

Q.7 Distinguish between equity shares and preference shares. (6)

Equity Shares are the shares that carry voting rights and the rate of dividend also fluctuate every year as it depends on the amount of profit available to the company. On the other hand, Preference Shares are the shares that do not carry voting rights in the company as well as the amount of dividend is also fixed.

One of the major difference between equity shares and preference shares is that the dividend on preference shares is cumulative in nature, whereas the equity share dividend does not cumulates, even if not paid for several years.

When a decision has to be taken on the capital structure, one must go for a mix of the two types of shares, in the share capital of the company.

And for this, one needs to have a general understanding on the two, so take a read of this article and know the difference. Equity shares are the ordinary shares of the company. The holder of the equity shares are the real owners of the company, i.e. the amount of shares held by them is the portion of their ownership in the company.

Equity shareholders have some privileges like they get voting rights at the general meeting, they can appoint or remove the directors and auditors of the company. Apart from that, they have the right to get the profits of the company, i.e. the more the profit, the more is their dividend and vice versa. Therefore, the amount of dividends is not fixed. This does not mean that they will get the whole profit, but the residual profit, which remains after paying all expenses and liabilities on the company.

Preference Shares

Preference Shares, as its name suggests, gets precedence over equity shares on the matters like distribution of dividend at a fixed rate and repayment of capital in the event of liquidation of the company. The preference shareholders are also the part owners of the company like equity shareholders, but in general, they do not have voting rights. However, they get right to vote on the matters which directly affect their rights like the resolution of winding up of the company, or in the case of the reduction of capital.

The following are the types of preference shares:

· Participating Preference Shares

· Non-Participating Preference Shares

· Convertible Preference Shares

· Non-Convertible Preference Shares

· Cumulative Preference Shares

· Non-Cumulative Preference Shares

Differences Between Equity Shares and Preference Shares

· Equity shares cannot be converted into preference shares. However, Preference shares could be converted into equity shares.

· Equity shares are irredeemable, but preference shares are redeemable.

· The next major difference is the ‘right to vote’. In general, equity shares carry the right to vote, although preference shares do not carry voting rights.

· If in a financial year, dividend on equity shares is not declared and paid, then the dividend for that year lapses. On the other hand, in the same situation, the preference shares dividend gets accumulated which is paid in the next financial year except in the case of non-cumulative preference shares.

· The rate of dividend is consistent for preference shares, while the rate of equity dividend depends on the amount of profit earned by the company in the financial year. Thus it goes on changing.

Q.8 Write a short note on job enrichment. (6)

Job enrichment is a process that is characterized by adding dimensions to existing jobs to make them more motivating. Examples of job enrichment include adding extra tasks (also called job enlargement), increasing skill variety, adding meaning to jobs, creating autonomy, and giving feedback.

The goal of job enrichment is to create a motivating job. This can be done, for example, by taking a regular, ‘boring’ job and adding extra responsibilities that make the job more meaningful for the worker. Job enrichment is, therefore, part of job design and job redesign.

The biggest reason to invest in job enrichment is that it leads to motivation. This makes job enrichment especially relevant for highly skilled, white-collar service jobs. According to Fein (1986), job enrichment is less important for blue-collar workers. IGNOU BCOC 132 Free Solved Assignment 2022 Here their primary concern is pay, job security, and the rules of the workplace. Job enrichment is less effective in this context because it does not address these problems. To conclude with a job enrichment definition: Job enrichment is the process of adding motivators to existing roles in order to increase satisfaction and productivity for the employee.

Q.9 “None of the four forms of business organisations has all the features of an ideal form of organisation.” Comment. (6)

If one is planning to start a business or is interested in expanding an existing one, an important decision relates to the choice of the form of organisation. The most appropriate form is determined by weighing the advantages and disadvantages of each type of organisation against one’s own requirements. Various forms of business organisations from which one can choose the right one include:

(a) Sole proprietorship,

(b) Joint Hindu family business,

(c) Partnership,

(d) Cooperative societies, and

(e) Joint stock company

Sole Proprietorship Do you often go in the evenings to buy registers, pens, chart papers, etc., from a small neighbourhood stationery store? Well, in all probability in the course of your transactions, you have interacted with a sole proprietor. Sole proprietorship is a popular form of business organisation and is the most suitable form for small businesses, especially in their initial years of operation. Sole proprietorship refers to a form of business organisation which is owned, managed and Sole trader is a type of business unit where a person is solely responsible for providing the capital, for bearing the risk of the enterprise and for the management of business.

J.L. Hansen The individual proprietorship is the form of business organisation at the head of which stands an individual as one who is responsible, who directs its operations and who alone runs the risk of failure. L.H. Haney controlled by an individual who is the recipient of all profits and bearer of all risks. This is evident from the term itself. The word “sole” implies “only”, and “proprietor” refers to “owner”. Hence, a sole proprietor is the one who is the only owner of a business. This form of business is particularly common in areas of personalised services such as beauty parlours, hair saloons and small scale activities like running a retail shop in a locality.

Joint Hindu Family

Business Joint Hindu family business is a specific form of business organisation found only in India. It is one of the oldest forms of business organisation in the country. It refers to a form of organisation wherein the business is owned and carried on by the members of the Hindu Undivided Family (HUF). It is governed by the Hindu Law. IGNOU BCOC 132 Free Solved Assignment 2022 The basis of membership in the business is birth in a particular family and three successive generations can be members in the business. The business is controlled by the head of the family who is the eldest member and is called karta. All members have equal ownership right over the property of an ancestor and they are known as co-parceners.

Partnership

The inherent disadvantage of the sole proprietorship in financing and managing an expanding business paved the way for partnership as a viable option. Partnership serves as an answer to the needs of greater capital investment, varied skills and sharing of risks. The Indian Partnership Act, 1932 defines partnership as “the relation between persons who have agreed to share the profit of the business carried on by all or any one of them acting for all

Q.10 Enumerate the principal characteristics of managerial leadership. (6)

Characteristics of managerial leadership

Leadership In order to be an effective manager, you need to be able to lead your employees in an efficient manner. A lot of responsibility comes with being a manager, and being able to lead a team is required.

Experience If you don’t have experience working in a professional environment and leading a team, it will be hard to step up as a manager. A great way to gain experience in a management role is to volunteer, either within your field or with a nonprofit. Ask to help manage and produce events, whether it’s raising money for an organization or organizing an event.

Communication Being able to communicate with your team is required when being an effective manager. This not only means communicating job responsibilities and expectations, it means listening to your team and working with them to produce results within their position.

Knowledge Experience as a manager is a must but so is knowledge. There are many different degrees offered for managers, including a bachelor’s degree in business or a master’s degree in leadership or project management. IGNOU BCOC 132 Free Solved Assignment 2022 You can also get a certificate in project management, entrepreneurship, ethics, or human resource management.

Organization If you aren’t organized in your position, there’s a good chance that the employees you manage won’t be either. There are many resources online that can inspire you to get organized. You can also buy a personal planner or download an app on your phone that can remind you of meetings, tasks you need to complete every day, etc.

Time Management Another key factor in being a successful manager is time management. If you’re late every day, your employees might think it’s acceptable to also be late. Time management is also important when it comes to prioritizing your day, making sure you have time to communicate with your employees, and accomplishing goals throughout the week.

Reliability A manager that is leading a team has to be reliable. This means being available for your employees, getting things done that you said you would, and supporting your team however needed.

Delegation If you don’t know how to delegate projects and tasks, your role as a manager will be a lot more difficult. IGNOU BCOC 132 Free Solved Assignment 2022 Don’t be afraid to ask your employees to help complete a task. You might think it’s easier to do everything yourself, but this will add more time to your already busy schedule, and you won’t be allowing your employees to do what they were hired to do.

Confidence To be an effective manager, you need to be confident in your abilities, experience, and decisions. This doesn’t mean you have to be arrogant or feel that you’re better than your employees. But you’re in a management role for a reason, so be proud and be an inspiration to your team.

Respect for Employees If you don’t respect your employees, there will definitely be tension in your workplace. Be cognizant of their time and abilities, be able to listen and communicate with them, and be a resource of knowledge and guidance.

Section-C

(This section contains four short questions of 5 marks each)

Q.11 What are the most common barriers to effective communication? (5)

COMMON BARRIERS TO EFFECTIVE COMMUNICATION

Regardless of the type of communication: verbal, nonverbal, written, listening or visual, if we don't communicate effectively, we put ourselves and others at risk. Besides physical and technical barriers, there are six barriers to effective communication every employee and manager should strive to eradicate.

Dissatisfaction or Disinterest With One’s Job

If you are unhappy or have lost interest in your job, you are far less likely to communicate effectively – both on the giving and receiving ends. In other words, your heart isn’t in it. This barrier, is perhaps the most difficult to overcome because it involves changing a mindset, and thus it typically doesn’t change until the person leaves.

Inability to Listen to Others

Active listening is an important aspect of effective communication. You cannot engage with someone if you are not listening to them because you will tend to make assumptions about their needs based on your perceptions versus reality.

Lack of Transparency & Trust

It is extremely difficult to communicate anything when there is a lack of transparency and trust. For example, if your staff believes you are holding something back, they will be anxious, some will speculate, and as a result, it will be more difficult for them to process any attempt you make to communicate with them.

Communication Styles (when they differ)

Everyone has their own communication style. Some people are very direct while others prefer a more indirect approach. Some use detailed data, while others rely on generalities, and so forth. Occasionally, one person is so entrenched in their way of communicating, they find it difficult to communicate with others who rely on a different style. You might hear comments such as, “Mary never explains what she wants me to do, she’s never specific” or “Bill gets so caught up in the weeds, that I lose focus on the bigger picture.”

Conflicts in the Workplace

Conflict can happen for a variety of reasons and when it does, it becomes a barrier to effective communication. The nature of the conflict is not necessarily important, what is important is working to resolve the conflict. When conflict is not eradicated, it grows and then people begin to take sides, which further impedes effective communication.

Cultural Differences & Language

It is important to understand the cultural differences in communication. But don’t just think international as in remembering that in Japan one’s surname precedes their given name. There can also be regional differences – for example, a northerner might not like the term "y’all" or even understand the more comprehensive version, "all y’all." While these examples may seem trivial, the point is that cultural differences can occur within the boundaries of the US, and when one does not recognize cultural differences, they risk offending the other person. It is in the offense that communication breaks down.

Q.12 Distinguish between outsourcing and off shoring.

Outsourcing refers to an organization contracting work out to a 3rd party, while offshoring refers to getting work done in a different country, usually to leverage cost advantages. It's possible to outsource work but not offshore it; for example, hiring an outside law firm to review contracts instead of maintaining an in-house staff of lawyers. It is also possible to offshore work but not outsource it; for example, a Dell customer service center in India to serve American clients. Offshore outsourcing is the practice of hiring a vendor to do the work offshore, usually to lower costs and take advantage of the vendor's expertise, economies of scale, and large and scalable labor pool.

Outsourcing Benefit

· There are several reasons why a company might outsource. While this can be a politically sensitive topic, management experts generally agree that outsourcing - when done right - increases competitive advantage with a natural division of labor that evolves in any society. Reasons for outsourcing include:

· Cost advantage: Costs are arguably the chief motivation behind outsourcing. Often companies find that contracting work out to a 3rd party is cheaper.

· Focus on core competency:There are a lot of business functions in a company. For example, human resources, information technology, manufacturing, sales, marketing, payroll, accounting, finance, security, transportation and logistics among others. Most of these are not "core" to the company. A "core" activity is one which offers the company competitive advantage over its competitors. It is an activity that the company does better than the competition, which is the main reason its customers do business with the company. Having to handle noncore functions is a distraction, so many companies outsource them.

· Quality and Capability:Often companies don't have in-house expertise for certain activities. In these cases, it is more efficient to outsource, and resulting products and services tend to be of higher quality when provided by outsourcing vendors.

· Labor flexibility: Outsourcing allows a company to ramping up and down quickly as needed. For example, a company may need a large number software programming experts for 6-8 months to develop an application. BCOC 132 Free Solved Assignment 2022 It would be infeasible to hire people for only 6 months. Outsourcing, however, can provide flexibility so the company does not have to worry about hiring and firing.

When outsourcing is combined with offshoring, not only is work contracted out to a third party, but it is also agreed that the work will be performed in a different country. The reasons are usually to take advantage of the benefits of outsourcing and offshoring both. Offshore outsourcing combines the benefits of outsourcing, such as easier resource ramp up and ramp down, and more specialized skills; with the benefits of offshoring, such as lower costs and higher productivity

Q.13 Distinguish between marketing concept and societal concept. (5)

The upcoming discussion will update you about the difference between marketing concept and societal marketing concept.

“Marketing concept starts with the company’s target customers and their needs and wants. The company integrates and co-ordinates all the activities that will affect customer satisfaction. The company achieves profit through creating and maintaining customer satisfaction. In essence, the marketing concept is consumers’ needs and wantsorientation backed by integrated marketing effort aimed at generating customer satisfaction as the key to satisfying organisational goals” observes Philip Kotler.

Unfortunately, there are not nary companies in the advanced countries such as U.S.A. which have adopted marketing concept. Only a handful of than such as Procter and Gamble, IBM, Gillette, Kodak, GEC, and few other have adopted marketing concept in true sense.

Most companies have not reached ‘full marketing maturity stage’. As Kotler says, ‘most companies do not grasp or embrace the marketing concept until driven to it by circumstance’. BCOC 132 Free Solved Assignment 2022 The marketing concept, thus, needs a central place or position in the business firm if customers needs and wants have to be correctly understood and satisfied. It needs to influence and control over other departments of a firm if the customers have to be satisfied. This satisfaction is possible to be delivered if the other departments such as production, finance, personnel, and R&D perform their functions in constant collaboration and rapport with the marketing department.

Q.14 Write a short note on employee engagement.

Employee engagement is a human resources (HR) concept that describes the level of enthusiasm and dedication a worker feels toward their job. Engaged employees care about their work and about the performance of the company, and feel that their efforts make a difference. BCOC 132 Free Solved Assignment 2022 An engaged employee is in it for more than a paycheck and may consider their well-being linked to their performance, and thus instrumental to their company's success.

Employee engagement can be critical to a company's success, given its clear links to job satisfaction and employee morale. BCOC 132 Free Solved Assignment 2022 Communication is a critical part of creating and maintaining employee engagement. Engaged employees are more likely to be productive and higher performing. They also often display a greater commitment to a company's values and goals.

Employers can encourage employee engagement in many ways, including communicating expectations clearly, offering rewards and promotions for excellent work, keeping employees informed about the company's performance, and providing regular feedback. Other strategies include making efforts to make employees feel valued and respected, and feeling that their ideas are being heard and understood. Engaged employees believe that their work is meaningful, believe that they are appreciated and backed by their supervisors and that they have been entrusted with the success of their company. BCOC 132 Free Solved Assignment 2022 Employee engagement has been a considered part of management theory since the 1990s and became widely adopted in the 2000s. While it has its detractors, mostly based on how difficult it can be to measure, employee engagement has been found to have direct links to a company's profitability and financial health.

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