MGT601 Final Term Past Paper 2012 by Aisha

Current Final Term Papers

(MGT 601) Spring 2012

How entrepreneur of Small and large industries respond differently when change occur in the industry?

An entrepreneur’s role lies in introducing the following five broad types of changes: a) Initial launching, i.e., original production of goods. b) Subsequent expansions i.e. increase in quantity. c) Factor innovation, i.e., increase in the supply or the productivity of the factors mentioned below: ¾ Financial (procuring capital from a new source or in a new form) ¾ Labor (upgrading existing labor) ¾ Material (procuring old material from new source or use of new material) d) Production innovation i.e., hinges in the production process. e) Market innovation comprising changes in the size or composition of the market, e.g., production of new goods, change in the quality or cost of existing goods, discovery of new markets etc. Essentially, the entrepreneur always searches for change, responds to it and exploits it as an opportunity. The entrepreneurship played a very vital role in the small and medium sized industries. The new innovations, courage to face the risk of uncertainties and qualities of entrepreneur to act as a leader gave rise to more than seventy percent of new innovations and new combination of skills like Microsoft, Yahoo, and Linux etc. The major developments in the computer industry, bioinformatics, medicine, electronics, telecommunications and hundreds of other things are the result of such entrepreneurships in the medium and small industrial sector.

1. During the change process the role performed by the manager is “forced evolution”
2. The roles are

Leaders are people, who are enthusiastic to take possibilities and tremble the whole or part of the system for the accomplishment of target. Leaders identify a new opportunity to constrain through with initiative, bravery, and inspiration. They are also able to make visualization for preferred outcomes and make such passionate environment of work for followers. Leaders must also practice what they want to discourse, and lead by example or model. Leaders proceedings and activities should be reliable with their viewpoints and norms, and their efforts should be pursing tracking down towards their aims achievements. Leaders must acknowledged individual and group efforts and celebrated every milestone toward accomplishment of the vision or goal.

Michael L. Jones highlighted during his research the role of managers in change management. The discussion focused on two distinct areas. Firstly the leaders must revise the applicable literature concentrating on empirical works, which endeavored to figure out what change managers do.

Export promotion in Pakistan is not an easy task ….. Today, export promotion in general by most of the developing countries and particularly by SMEs is not easy. This is true for a variety of reasons. Some of which are listed below.

1. First, the products available in most developing countries are generally known in international markets and discovery new product capabilities is not likely to be as regular and frequent as before.
2. Second, international marketing techniques are well disseminated in most developing countries, though they are not equally well known in the interior of the countries.
3. Third, as more developing countries penetrate in world markets, path to other developing

countries will be that much harder and competition correspondingly greater.

4. Finally, international markets are tending to become less open to manufactured products from developing countries

Why SMEs of Pakistan reluctant to submit anti-dumping case ……

Agreement on Anti-dumping

Agreement on Anti-dumping provides the right to the contracting parties to apply anti-dumping measures, i.e. measures against imports of a product at an export price below its “normal value” if such dumped imports caused injury to a domestic industry

Describe three objectives of advertising. Objective r importance main bht faraq hay !!!!!!!!!!!!!!!!!!!!!!!!!!

1. Trial: the companies which are in their introduction stage generally work for this objective. The trial objective is the one which involves convincing the customers to buy the new product introduced in the market. Here, the advertisers use flashy and attractive ads to make customers take a look on the products and purchase for trials. 2. Continuity: this objective is concerned about keeping the existing customers to stick on to the product. The advertisers here generally keep on bringing something new in the product and the advertisement so that the existing customers keep buying their products. 3. Brand switch: this objective is basically for those companies who want to attract the customers of the competitors. Here, the advertisers try to convince the customers to switch from the existing brand they are using to their product. 4. Switching back: this objective is for the companies who want their previous customers back, who have switched to their competitors. The advertisers use different ways to attract the customers back like discount sale, new advertise, some reworking done on packaging, etc.

Basically, advertising is a very artistic way of communicating with the customers. The main characteristics one should have to get on their objectives are great communication skills and very good convincing power.

Basic and vital constrain in development policy of making for SMEs…..

Pakistan’s economy is an economy of SME’s. Policies in the past have given a general perspective, direction and defining broad parameters of activity within the macro economic framework, but efforts have focused on the large enterprises, neglecting SMEs which are at the heart of our economy while SME’s are being mentioned in some of our socio-economic strategies and policy documents, measures are not sufficiently specified and prioritized for us to be able to speak of any coherent SME policy or approach. SME promotion is an important issue for many government departments and central offices. However, there is an existing lack of coordination and regular information exchange mechanism among institutions that constrains their collective ability to deliver in the SME development process.

Name the institutions helping SMEs and why there is lack of coordination between them....(3 Marks)

SMEDA (Small and Medium enterprises Development Authority)

Introduction

Premier institution of the Govt. of Pakistan under Ministry of Industries, Production & Special initiative, SMEDA was established in October 1998 to take on the challenge of developing Small & Medium Enterprises (SMEs) in Pakistan. With a futuristic approach and professional management structure it has focus on providing an enabling environment and business development services to small and medium enterprises. SMEDA is not only an SME policy-advisory body for the government of Pakistan but also facilitates other stakeholders in addressing their SME development agendas. Growth of globally competitive SME sector through a conducive and facilitating environment and support services as an engine of growth and sustainability to national economy.

Mission Statement

To function as the promoter & facilitator of SME sector in Pakistan by creating a conducive and facilitating environment as well as providing and facilitating service delivery to SMEs for enhancing their capacities and competitiveness.