Paper9 Syl22 June24 Set1 Sol

INTERMEDIATE EXAMINATION SET - 1
MODEL ANSWERS TERM – JUNE 2024

PAPER – 9 SYLLABUS 2022
OPERATIONS MANAGEMENT AND STRATEGIC MANAGEMENT
Time Allowed: 3 Hours Full Marks: 100
The figures in the margin on the right side indicate full marks.
SECTION – A (Compulsory)
1. Choose the correct option: [15 x 2 = 30]
(i) A department store has one storekeeper. The average number of customers handled by the
storekeeper is 30 per hour. If the customer arrives at the store at mean rate of 25 per hour, what will
be the average number of customers in the system:
(a) 2 customers.
(b) 3 customers.
(c) 5 customers.
(d) None of the above.
(ii) Which one of the following standards is associated with the "Quality Assurance” in Final Inspection Test"?
(a) ISO 9001.
(b) ISO 9002.
(c) ISO 9003.
(d) ISO 9004.
(iii) Business Process Re-engineering is:
(a) eliminating loss-making process.
(b) redesigning operational processes.
(c) redesigning the product and services.
(d) recruiting the process engineers.
(iv) Forecasting the weather is an example of:
(a) Narrow AI.
(b) General AI/human-level.
(c) Super AI.
(d) Deep- learning.
(v) ‘Z’ chart is a chart used in:
(a) Programme control.
(b) Job control.
(c) Cost control.
(d) Quality control.
(vi) The starting point of Production cycle is
(a) Product design
(b) Production planning
(c) Routing
(d) Market Research
(vii) The lead-time is the time:
(a) To place holders for materials.
(b) Time of receiving materials.
(c) Time between receipt of material and using materials.
(d) Time between placing the order and receiving the materials.
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Directorate of Studies, The Institute of Cost Accountants of India
(viii) The type of production control which is typically found where a particular bottleneck machines
exists in the process of manufacturing is
(a) Block control
(b) Load control
(c) Flow control
(d) Batch control
(ix) Which one of the following is NOT the advantage of Preventive Maintenance?
(a) Better product quality
(b) Greater safety of workers
(c) Increased breakdowns and downtime
(d) Fewer large-scale repairs
(x) A Ltd., a large scale industry manufactures Product K of 24 units per shift of 8 hours. The standard
time per unit is 15 minutes. What is the productivity of the per shift of 8 hours?
(a) 50%
(b) 60%
(c) 75%
(d) 80%
(xi) The objective function of a LPP is Z = 3x1 + 2x2. If x1 = 10 and x2 = 5, then the value of Z is:
(a) 35
(b) 40
(c) 45
(d) 50
(xii) A _______________ is a business unit in a growing market, but not yet with high market share.
(a) cash cow
(b) dog
(c) question mark
(d) star
(xiii) The test is a catch-all category, indicating that the structure must fit legal, stakeholder, trade union
or similar constraints.
(a) The Feasibility Test
(b) The People Test
(c) The Parenting Advantage Test
(d) The Specialised Cultures Test
(xiv) ________ is similar to referral programs.
(a) Influencer marketing
(b) Affiliate Marketing
(c) Pay-per-click
(d) Content marketing
(xv) What describes the categories of activities within and around an organization, which together
create a product or service?
(a) SWOT analysis
(b) BCG framework
(c) Value chain
(d) Brain storming
Answer:
(i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) (xii) (xiii) (xiv) (xv)
c b b a a d d b c c b c a b c
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SECTION – B
Answer any 5 questions out of 7 questions given. Each question carries 14 marks.
[5 x 14 = 70]
2. (a) Enumerate the scope of Operations Management [7]
(b) Explain the scope of Total Quality Management. [7]
Answer:
(a) Operations Management (OM) encompasses all organizational activities that acquire the raw form
of materials (input), process or convert into a consumable products and services as required to meet
the needs of the end customers. OM deals with both tangible product and intangible services.
Scope of Operation Management

Operations Management concerns with the conversion of inputs into outputs, using physical
resources, so as to provide the desired utilities to the customer while meeting the other
organizational objectives of effectiveness, efficiency and adoptability. It distinguishes itself from
other functions such as personnel, marketing, finance, etc. by its primary concern for ‘conversion
by using physical resources’. Following are the activities, which are listed under Production and
Operations Management functions:
1. Location of facilities.
2. Plant layouts and Material Handling.
3. Product Design.
4. Process Design.
5. Production Planning and Control.
6. Quality Control.
7. Materials Management.
8. Maintenance Management.
(b) Scope of Total Quality Management (TQM)

1. An integrated organisational infrastructure
2. A set of management practices
3. A wide variety of tools and techniques.
TQM is Japanese approach to quality. The term TQM refers to a quest-for quality in an organisation.
TQM is a process that underlines three philosophies. One is never-ending push to improve, which is
referred to as continuous improvement; the second is the involvement of every employee in the
organisation and the third is the goal for customer satisfaction, which means meeting or exceeding
customer expectations. It often focuses on benchmarking world-class standards, product and service
design and purchasing. In addition, TQM involves a number of other elements such as:
 Team approach,
 Employee empowerment
 Decisions based on facts rather than opinions,
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 Knowledge of quality tools [flow charts, check sheets, histograms, pareto analysis, scatter
diagrams etc.]
 Quality at the source and
 Inclusion of suppliers as a part of quality improvement programme.
TQM is a process of continuous improvement at every level of the organisation-the centre of the
entire process is customer satisfaction. TQM implies that the organisation is doing everything it can
to achieve quality at all stages of the process, from customer demands, to product design, to
engineering.
TQM seeks to breakdown communication barriers among employees and also between the
organisation and its external stakeholders, in order to increase cross-functional integration and
provide new avenues for co-operation to improve quality. It would be incorrect to think of TQM
merely a collection of techniques. Rather, TQM reflects a whole new attitude toward quality. It is
about the culture of an organisation. To truly reap the benefits of TQM, the culture of an
organisations must change. In other words, TQM organisation strives to develop co-operative
relationships with its suppliers and distributors so that continuous improvement of quality becomes
their goals too. Ford, Motorola, and GM have taken steps to develop long-term relationships with
their suppliers and distributors.
3. (a) Discuss briefly the concept of “Preventive maintenance” and its advantages. [3+4=7]
(b) A manager has to decide about the number of machines to be purchased. He has three options
i.e., purchasing one, or two or three machines. The data are given below:
Number of machine Annual fixed cost Corresponding range of output
One ` 12,000 0 to 300
Two ` 15,000 301 to 600
Three ` 21,000 601 to 900
Variable cost is ` 20 per unit and revenue is ` 50 per unit
A. What is the break-even point for each range?
B. If projected demand is between 600 and 650 units how many machines should the manager
purchase? [7]
Answer:
(a) A system of scheduled, planned or preventive maintenance tries to minimize the problems of
breakdown maintenance. It locates weak parts in all equipments, provides them regular inspection and
minor repairs thereby reducing the danger of unanticipated breakdowns. The underlying principle of
preventive maintenance is that prevention is better than cure. It involves periodic inspection of
equipment and machinery to uncover conditions that lead to production breakdown and harmful
depreciation. The system of preventive maintenance varies from plant to plant depending on the
requirement of the plant. Any company, adopting the preventive maintenance should keep the record
of failure of various components and equipment, which help the maintenance department to
statistically analyze the failure pattern and replace the item before it fails, so that the breakdown can
4
be eliminated. This reduces the unanticipated breakdowns, increases the availability of the equipment
for production purpose, maintain optimum productive efficiency of equipment and machinery
reduces the work content of maintenance job, increases productivity and safety of life of worker.
Production department or maintenance department depending on the size of the plant generally takes
up preventive maintenance work. As the preventive maintenance is a costly affair, it is better to
maintain records of cost (both labour, materials used and spares used) and a valuation of the work
done by the department will show us what benefits are derived from preventive maintenance. The
analytical approach to evaluate the work done by preventive maintenance is
(i) (Inspections incomplete) / (Inspections scheduled) × 100 should be less than 10%
(ii) (Hours worked for maintenance) / (Scheduled hours) × 100 = Performance of the department.
(iii) Down time to be given as a ratio of the available hours and to be compared against a standard
to be worked out for each company or against a figure of the past. The ratio is given as:
= Down time in hours/ Available hours (where Available Hours = working days × hours per
day × number of machines). Here down time is the total time of stoppage of the machine for
scheduled and unscheduled maintenance work.
(iv) Frequency of break downs = (Number of break downs) / (Available machine hours)
(v) Effectiveness of planning = (Labour hours on scheduled maintenance) / (Total labour hours
spent on maintenance).
OR
(Down time due to scheduled maintenance)/(Down time due to total maintenance work)
Advantages of preventive maintenance:

(i) Reduced breakdowns and downtime,
(ii) Greater safety to workers,
(iii) Fewer large scale repairs,
(iv) Less standby or reserve equipment or spares,
(v) Lower unit cost of the product manufactured,
(vi) Better product quality,
(vii) Increased equipments life and
(viii) Better industrial relations.
(b) A. Break-even point
Let Q be the break-even point.
FC = Fixed cost, R = Revenue per unit, VC = Variable cost per unit
At, BEP, TR = FC + TVC

or, Revenue p.u. × Q = FC + VC p.u. × Q
Q (R - VC) = FC
5
FC
Q=
R  VC
Let Q1 be the break-even-point for one machine option

12000 12000
Then, Q1 = = = 400 units (Not within the range of 0 to 300)
(50 - 20) 30
Let Q2 be the break-even-point for two machines option.
15000 15000
Then, Q2 = = = 500 units (within the range of 301 to 600)
(50 - 20) 30
Let Q3 be the break-even-point for three machines option.

21000 21000
Then, Q3 = = = 700 units (within the range of 601 to 900)
(50 - 20) 30
B. The projected demand is between 600 to 650 units.

The break-even point for single machine option (i.e., 400 units) is not feasible because it
exceeds the range of volume that can be produced with one machine (i.e., 0 to 300).
Also, the break-even point for 3 machines is 700 units which is more than the upper limit of
projected demand of 600 to 650 units and hence not feasible. For 2 machines option the
break- even volume is 500 units and volume range is 301 to 600.
Hence, the demand of 600 can be met with 2 machines and profit is earned because the
production volume of 600 is more than the break-even volume of 500. If the manager wants
to produce 650 units with 3 machines, there will be loss because the break-even volume with
three machines is 700 units. Hence, the manager would choose two machines and produce
600 units.
4. (a) A Co. is engaged in manufacturing five brands of packed snacks. It is having five
manufacturing set-ups, each capable of manufacturing any of its brands one at a time. The
cost to make a brand on these set-ups vary according to the following table:
Time Taken (in minutes) by 4 Workers

Set-ups
S1 S2 S3 S4 S5
Brand
B1 4 6 7 5 11
B2 7 3 6 9 5
B3 8 5 4 6 9
B4 9 12 7 11 10
B5 7 5 9 8 11
Assuming five set-ups are S1, S2, S3, S4 & S5 and five brands are B1, B2, B3, B4 & B5. Compute
the optimal assignment of products on these set-ups resulting in minimum cost. Use
Hungarian method. [7]
6
(b) An automobile production line turns out about 100 cars a day, but deviations occur owing to
many causes. The production is more accurately described by the probability distribution
given below:
Production/Day Prob. Production/Day Prob.
95 0.03 101 0.15
96 0.05 102 0.10
97 0.07 103 0.07
98 0.10 104 0.05
99 0.15 105 0.03
100 0.20
Total 1.00
Finished cars are transported across the bay, at the end of each day, by ferry. If the ferry has
space for only 101 cars, calculate what will be the average number of cars waiting to be shipped,
and also calculate what will be the average number of empty space on the boat?
Use following Random Numbers to simulate the data provided above - 20, 63, 46, 16, 45, 41,
44, 66, 87, 26, 78, 40, 29, 92, 21. [7]
Answer:
(a) In order to find the proper assignments, we apply the Hungarian Method as follows:
Steps 1.
Row reduction – subtract the minimum element of each row from each element of that row.
Table 1
Set-ups
S1 S2 S3 S4 S5
Brand
B1 0 2 3 1 7
B2 4 0 3 6 2
B3 4 1 0 2 5
B4 2 5 0 4 3
B5 2 0 4 3 6
Steps 2.
Column reduction – subtract the minimum element of each column from each element of that
column.
Table 2
Set-ups
S1 S2 S3 S4 S5
Brand
B1 0 2 3 0 5
B2 4 0 3 5 0
B3 4 1 0 1 3
B4 2 5 0 3 1
B5 2 0 4 2 4
7
Steps 3.
Apply line test – Draw minimum number of horizontal & vertical lines to cover all zeros. The
number of lines to cover all zeros is 4 (< 5), we proceed to follow Step 4 and onwards.
Table 3
Set-ups
S1 S2 S3 S4 S5
Brand
B1 0 2 3 0 5
B2 4 0 3 5 0
B3 4 1 0 1 3
B4 2 5 0 3 1
B5 2 0 4 2 4
Steps 4.
Subtract smallest uncovered number (1) from each uncovered number and add it to number lying at
the intersection of lines drawn in Step 3.
Table 4
Set-ups
S1 S2 S3 S4 S5
Brand
B1 0 3 4 0 5
B2 4 1 4 5 0
B3 3 1 0 0 2
B4 1 5 0 2 0
B5 1 0 4 1 3
Steps 5.
Since the number of lines is 5 (equal to matrix size), optimal assignment is possible.
Table 5
Set-ups
S1 S2 S3 S4 S5
Brand
B1 0 3 4 0 5
B2 4 1 4 5 0
B3 3 1 0 0 2
B4 1 5 0 2 0
B5 1 0 4 1 3
Steps 6.
Optimal assignments and their costs:
Table 6
Cost
Brand B1 to Set-up S1 4
Total Cost 27
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(b)
Simulation of data of an Automobile Production line
Production/day Probability Cumulative Probability Random No. Range
95 0.03 0.03 00-02
96 0.05 0.08 03-07
97 0.07 0.15 08-14
98 0.10 0.25 15-24
99 0.15 0.40 25-39
100 0.20 0.60 40-59
101 0.15 0.75 60-74
102 0.10 0.85 75-84
103 0.07 0.92 85-91
104 0.05 0.97 92-96
105 0.03 1.00 97-99
1.00
Simulated data
Day Random No. Production No. of cars waiting No. of empty space
to be shipped on the boat
1 20 98 - 3
2 63 101 - -
3 46 100 - 1
4 16 98 - 3
5 45 100 - 1
6 41 100 - 1
7 44 100 - 1
8 66 101 - -
9 87 103 2 -
10 26 99 - 2
11 78 102 1 -
12 40 100 - 1
13 29 99 - 2
14 92 104 3 -
15 21 98 - 3
Total 6 18
Average no. of cars waiting to be shipped = 6/15 = 0.40 per day
Average no. of empty space on the boat = 18/15 = 1.2 per day
5. (a) K Ltd. an Engineering firm is using a machine whose purchase price is ` 13,000. The installation
charges amount to ` 3,700 and the machine has a scrap value of only ` 1,400 because the firm has a
monopoly of this type of work. The maintenance cost in various years as is shown below:
Year 1 2 3 4 5 6 7 8 9
Cost 300 850 1300 1900 2600 3300 4200 6000 7500
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Required:
(i) Determine after how many years should the machine be replaced on economic
considerations (Assuming that machine replacement can be done only at the year-end).
(ii) Compute what will be the average cost of Replacement? [7]
(b) B Ltd. has recently won a contract for the installation of a die casting machine and its associated
building construction work at a local factory of large national firm of electronic engineers. Project
manager has listed down the activities in the project as under:
Activity Identification Preceding Activities Duration (Days)
A 1-2 - 1
B 2-3 A 3
C 2-4 A 15
D 2-5 A 1
E 3-5 B 10
F 4-5 C 6
G 5-6 D, E, F 1
H 6-7 G 1
I 6-8 G 15
J 7-8 H 2
Required:
(i) Prepare and draw the network for the project.
(ii) Infer what are the possible paths with duration of the project.
(iii) Examine and identify the critical path with duration of the project. [3+2+2=7]
Answer:
(a) (i) The machine may best be replaced every 7th year.
(ii) The average cost of Replacement is `4,250 approximately
(b) (i)
(ii) The Possible Paths:

1–2–3–5–6–7–8 = 18 Days
1–2–5–6–7–8 = 6 Days
1–2–5–6–8 = 18 Days
1–2–4–5–6–7–8 = 26 Days
1–2–4–5–6–8 = 38 Days
10
Critical Path & Duration:
1 – 2 – 4 – 5 – 6 – 8 and duration is 38 Days
6. (a) “A typical business firm usually considers three types of Strategy” – Explain. [7]
(b) Explain various application areas of Internet of Things (IOT). [7]
Answer:
(a) A typical business firm usually considers three types of strategy

(i) Corporate strategy: It is concerned with the overall purpose and scope of an organisation
and how value will be added to the different parts (business units) and product lines of the
organisation. Corporate strategies typically fit within the three main categories of stability,
growth and retrenchment. Decisions include investment in diversification, vertical
integration, acquisitions, new ventures, the allocation of resources between the different
businesses of the firm and divestments.
(ii) Business strategy: It is about how to compete successfully in particular markets. It
emphasizes improvement of the competitive position of an organisation’s products or
services in the specified industry or market segment served by that business unit. These
strategies fit within the two overall categories namely, competitive and cooperative
strategies.
(iii) Functional strategy or Operational Level Strategy: It is concerned with how the
component parts of an organisation deliver effectively the corporate and business level
strategies in terms of resources, processes and people. It is concerned with developing and
nurturing competence to provide a business unit with a competitive advantage. These
strategies are taken at the functional level directed towards maximising resource
productivity.
It may be mentioned that organisations use all the three types of strategies simultaneously. The
term ‘hierarchy of strategy’ is commonly used to explain the nesting of one strategy within another
so that they complement and support one another. It also refers to the grouping of strategies by
level in the organisation. Functional strategies support business strategies, which in turn support
the corporate strategy
(b) Application areas of Internet of Things (IoT):

 Increasingly, organisations in a variety of industries are using IoT to operate more efficiently,
better understand customers to deliver enhanced customer service, improve decision-making
and increase the value of the business.
 Access to low-cost, low-power sensor technology: Affordable and reliable sensors are
making IoT technology possible for more manufacturers.
 Connectivity: A host of network protocols for the internet has made it easy to connect
sensors to the cloud and to other “things” for efficient data transfer.
 Machine learning and analytics: With advances in machine learning and analytics, along
with access to varied and vast amounts of data stored in the cloud, businesses can gather
insights faster and more easily. The emergence of these allied technologies continues to push
the boundaries of IoT and the data produced by IoT also feeds these technologies.
11
 Conversational artificial intelligence (AOl): Advances in neural networks have brought
natural-language processing (NLP) to IoT devices (such as digital personal assistants Alexa,
Cortana, and Siri) and made them appealing, affordable and viable for home use.
 Smart Lighting: This is another one of the Internet of Things examples that have gradually
been coming into common usage. Bulbs and battens connected to Wifi can be turned on and
off remotely. Schedule for usage can be set for these devices along with their brightnesses
controlled and their power consumption monitored. Using other IoT devices, smart lighting
devices can also be turned on and off by voice alone. The power consumption of these
devices can also be easily monitored using IoT.
 Smart Parking: It is hard to regulate the occupancy and parking coverage in large multi-
story car parking facilities. Among the many Internet of Things examples is the use of IoT
in such facilities for counting the number of cars that have driven into the facility and the
number that have driven out. Specific devices can also give you the exact location where
you have parked your car so you are not lost.
 Medical Fridges: Medical fridges are a grand entry to the Internet of Things examples list
and can be used for regulatory compliance and safety purposes. Vials of vaccines and
medicines can often be spoiled if they are not kept at the correct temperatures. Medical
refrigerators cannot be monitored throughout the day, especially in person. Having IoT
sensors inside medical fridges can enable them to be monitored remotely, and their
temperature changed as per requirement.
7. (a) Robert Linneman and Rajan Chandran have suggested that a seven step process in
contingency planning. In this context, discuss in brief what are the said steps in contingency
planning. [7]
(b) Analyze the four sorts of business as given in the BCG Matrix. [7]
Answer:
(a) The Seven Steps in Contingency Planning are enumerated below:

 Step 1 – Identify the beneficial and unfavourable events that could possibly derail the
strategy or strategies.
 Step 2 – Specify trigger points. Calculate about when contingent events are likely to occur.
 Step 3 – Assess the impact of each contingent event. Estimate the potential benefit or harm
of each contingent event.
 Step 4 – Develop contingency plans. Be sure that contingency plans are compatible with
current strategy and are economically feasible.
 Step 5 – Assess the counter impact of each contingency plan. That is, estimate how much
each contingency plan will capitalize on or cancel out its associated contingent event. Doing
this will quantify the potential value of each contingency plan.
 Step 6 – Determine early warning signals for key contingency event. Monitor the early
warning signals.
 Step 7 – For contingent event with reliable early warning signals, develop advance action
plans to take advantage of the available lead time.
12
(b) Boston Consulting Group (BCG) matrix.
One of the most common and long-standing ways of conceiving of the balance of a portfolio of
businesses is the Boston Consulting Group (BCG) matrix.
Figure 9.5: The Growth Share (or BCG) matrix
Here market share and market growth are critical variables for determining attractiveness and
balance. High market share and high growth are, of course, attractive. However, the BCG matrix
also warns that high growth demands heavy investment, for instance to expand capacity or develop
brands. There needs to be a balance within the portfolio, so that there are some low growth
businesses that are making sufficient surplus to fund the investment needs of higher growth
businesses. The market growth/market share axes of the BCG matrix define four sorts of business:
 A star is a business unit which has a high market share in a growing market. The business unit
may be spending heavily to keep up with growth, but high market share should yield
sufficient profits to make it more or less self-sufficient in terms of investment needs.
 A question mark (or problem child) is a business unit in a growing market, but not yet with
high market share. Developing question marks into stars, with high market share, takes heavy
investment. Many question marks fail to develop, so the BCG advises corporate parents to
nurture several at a time. It is important to make sure that some question marks develop into
stars, as existing stars eventually become cash cows and cash cows may decline into dogs.
 A cash cow is a business unit with a high market share in a mature market. However, because
growth is low, investment needs are less, while high market share means that the business
unit should be profitable. The cash cow should then be a cash provider, helping to fund
investments in question marks.
 Dogs are business units with a low share in static or declining markets and are thus the worst
of all combinations. They may be a cash drain and use up a disproportionate amount of
company time and resources. The BCG usually recommends divestment or closure.
13
8. (a) Discuss what do you understand by BPR. Examine what are the important reason to lead an
organization to undertake re-engineering. [7]
(b) Examine with examples, why do we need the Strategic Business Unit. [7]
Answer:
(a) Business Process Re-engineering:

Business Process Re-engineering may be considered to be radical redesign of the business processes
often used by companies to cut costs and return to profitability. If is fundamental re-thinking and
radical re-design of business processes to achieve dramatic improvements in critical contemporary
measures of performances such as cost, quality, service and speed.
Three Important reasons:

1. An organisation needs dramatic improvement to sustain itself and is already in deep trouble.
High failure rates of products and repetitive customer complaints ca n be one of the reasons
that can cause huge disruption in functioning of an organization.
2. The need for re-engineering can be felt by management keeping in mind the eminent
problems that the organisation is expected to face in the future due to some dramatic changes
in the environment both internal and external.
3. There can be situations when re-engineering can help organisations to be in better position
than they are currently in.
(b) A Strategic Business Unit is a relatively autonomous division of a large company that operates as
an independent enterprise with responsibility for a particular range of products or activities. These
strategic business units are responsible for their own profit or loss but are answerable to the top
management.
SBU or a Strategic Business unit mostly targets a particular market segment and it provides
expertise in product management and operations which help the parent company manage and track
the different products that are produced in the company. The SBU is given the authority to make its
own strategic decisions within corporate guidelines as long as it meets corporate objectives. A big
organization like Unilever etc. has many SBUs for their different categories of products like
Cosmetics, Food products, Beverages, etc., and each is managed through a separate unit head. It
promotes accountability.
Since units' heads are responsible for individual SBU profitability. Career development
opportunities are further higher in this structure.
It allows better control of categories of products manufacturing, marketing, and distribution.
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INTERMEDIATE EXAMINATION SET - 1

MODEL ANSWERS TERM – JUNE 2024

2. (a) Enumerate the scope of Operations Management [7]

(b) Explain the scope of Total Quality Management. [7]

Scope of Operation Management

(b) Scope of Total Quality Management (TQM)

Advantages of preventive maintenance:

(b) A. Break-even point

Let Q be the break-even point.

FC = Fixed cost, R = Revenue per unit, VC = Variable cost per unit

At, BEP, TR = FC + TVC

Let Q1 be the break-even-point for one machine option

Let Q3 be the break-even-point for three machines option.

B. The projected demand is between 600 to 650 units.

Time Taken (in minutes) by 4 Workers

(ii) The Possible Paths:

(b) Explain various application areas of Internet of Things (IOT). [7]

(a) A typical business firm usually considers three types of strategy

(b) Application areas of Internet of Things (IoT):

(a) The Seven Steps in Contingency Planning are enumerated below:

(b) Boston Consulting Group (BCG) matrix.

Figure 9.5: The Growth Share (or BCG) matrix

(a) Business Process Re-engineering:

Three Important reasons:

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