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McGregor’s theory (theory X / theory Y)
Based on stability, certainty and defined structures, processes and policies. Employees are highly monitored to follow the set patterns
This is a one man show where all power resides with the founder. Decisions are taken by the founder which has to be followed by the subordinates
organization exists to serve the individual and where individuals are not servants of the organization. They consist of self-organizes professionals who do not need any supervision
More emphasis is given to completion of tasks and least is given to the hierarchal positions. Employees are provided with autonomy to ensure task completion.
ECO404 Assignment Idea Sol 2019
Competition is a subject always open to debate in health care, and pharmaceuticals are no exception. Price competition in the pharmaceuticals supplies industry is growing rapidly in the increasingly price-conscious new millennium. Ferozsons is one of the leading companies in Pakistan maintaining exclusive agreements with a number of international partners for distribution, selling and co-manufacturing of surgical products. During the past year, Ferozsons sold 7 million (700, 000, 0) units of surgical products at a price of $13.50, for total revenues of $85 million. During the current year, sale of units of surgical products have fallen from 7 million (700, 000, 0) units to 4.6 million (460, 000, 0) units following a competitor price cut from $12.95 to $10.50 per unit.
a. Calculate the arc cross price elasticity of demand for surgical products of Ferozesons.
b. Marketing Director of surgical system in Ferozsons, projects that unit sale will recover from 4.6 million (460, 000, 0) units to 5.8 million (580, 000, 0) units if Surgical Systems reduces its own price from $13.50 to $12.50 per unit. Calculate Surgical Systems’ implied arc price elasticity of demand. (Marks: 4+4)
PEL prides itself on innovative home appliances geared towards the modern consumer. With the start of winter season PEL has announced 2% discount off the average price of refrigerators sold during the month of October in an effort to reduce excess end-of-themodel-year inventory. Customer response was wildly enthusiastic, with unit sales rising by 20% over the previous month’s level.
a. Calculate the point price elasticity of demand for PEL refrigerators sold during the month of August.
b. Calculate the profit-maximizing price per unit if PEL has Rs.30, 600 marginal selling costs. (Marks: 3+4)
Arc Price elasticity of demand (responsiveness of demand) formula is
% ∆Q/%∆Price = ((Q2-Q1/average quantity)*100)/(p2-p1/average price)*100
Competitive price cut Surgical products of Ferozson,s quantity demand
$ 12.95 70,00,000
Arc elasticity of demand = (4600000-7000000/5800000)*100 = -2400000/5800000 = -41.37
(10.50-12.95/11.72)*100 = -2.45/11.72 = -20.90
Arc elasticity of demand = -41.37/ -20.90
Note: If price of surgical products of competitive company decreases by 1% then quantity demand of surgical products of Ferozsons will be decrease by 1.97%
Principles of Management (MGT503) FALL 2020 Due Date: 8th February, 2021 Total Marks: 20
Objective of the activity: The objective of this assignment is to make students able to recognize
different organizational structures along with the contingency factors impacting organizations during period of global crises such as COVID 19.
After attempting this activity, students will be able to:
Comprehend basic contingency factors surrounding organizations.
Come up with the strategies which organization should adopt in future to work effectively
due to uncertain circumstances.
A new trendy and catchy managerial acronym now days is “VUCA”, stands for volatility, uncertainty, complexity, and ambiguity. These are four different types of situations requiring different types of responses. COVID-19 has brought unprecedented challenges for organizations and “VUCA” has become a new normal. The old ritual of dictating work by the top management to the subordinates, and ensuring that all tasks have been finally operated and executed is fading due to prevalent pandemic. This requires a change in strategy, otherwise they would be at disadvantage.
By calling attention to this and other limitations of traditional organizational structures, COVID-19 is speeding up the pace of necessary change. Organizations have been naturally put into situation where they have to modernize, for example, working remotely. Here, those organizations which were previously having less rigid structure have embraced this change easily. However, this sudden need of change has created opportunities to come up with new strategies
and affective ways of doing work.
For the organization which are transitioning from traditional to work remotely/virtually;
What can be appropriate organizational design decisions based on the following contingency factors: (15 Marks)
a) Strategy and structure
c) Environmental uncertainty and structure
2. What crucial points should organizations keep into consideration by going from “new normal” to “back to normal”, when COVID-19 crises fades? (5 Marks)
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Suppose ABC Software Company is assigned a project by Islamabad Capital Territory (ICT) police. The software company has experienced testers in its fleet. The task is to develop an Internet of Things (IoT) based application for traffic monitoring in the capital with solid documentation utilizing incomplete requirement documents. With short deadline, the test cases need to be automated using any of the following two options for improving the quality of the end product.
Justify your selection of either testing technique in the given scenario with logical arguments