A strategic information system is a system that enables an organisation to alter the structure of its business strategy so that it can achieve a competitive advantage over others. This system also helps organisations in fastening the time it takes to react and adapt to several environmental changes that take place and makes the overall business structure more efficient. Within a strategic information system there exists a decision support system that helps align business goals and strategies with information systems and technologies.
Write down the various business models of internet.
The various business models of the internet include:
The amount or volume of data which is being transmitted through a particular network at a given point in time is referred to as a network bandwidth. Network bandwidth's can be affected by software or hardware limitations or if there is a problem in devices that facilitate communication.
Question 4: Differentiate between OLTP and OLPP.
OLTP which stands for Online Transaction Processing involves a set of programs that facilitate transaction based applications. OLTP involves records like accounts in a bank or online reservations. A transaction is processed which means that a record is created or updated. OLPP, Online Paper Processing, on the other hand is the paper equivalent of the OLTP. The difference between the two is that where in a OLTP the system creates and updates records in keyed databases on computers, OLPP's allow paper pushers in companies to do their work electronically online without dealing with any paper physically. In OLTP a lot of processing is done to little data while in OLPP little processing is done to larger data and thus the system requirements for both vary.
Question 5: What are the dimensions of Strategic Management?
Strategic management involves making an entire range of decisions. There are six core dimensions of strategic management. It involves top management decisions and allocation of large sums of company resources. Strategic management decisions have a significant impact on the long-term survival of a company and are future oriented with a range of consequences. Question 6: Critically analyse the concept of BCG matrix.
The BCG matrix (Boston Consulting Group) is based on the product life cycle theory and it helps a company determine what priorities should be given to which products in the business product portfolio. The matrix has two dimensions: market share and market growth. When products of a company are placed in a BCG matrix 4 categories: Star, Cash cow, Question mark and Dog are formed. Stars have a high market share and high growth and generate large amounts of cash. Cash cows have low growth but high market shares and are the foundations of the company and are highly profitable. Dogs have low growth and low market share and thus should be avoided by companies and questions marks have high growth but low market share and the worst characteristics when it comes to cash. Businesses invest heavily in cash cows and lesser in starts and question marks.
Question 7: What is SWOT analysis?
SWOT analysis is a method or tool which is used for strategic planning and it enables organizations to evaluate the strengths, weaknesses, opportunities and threats associated with a particular business project.
Question 8: What are the characteristics of Short-Term Objectives?
Short-term objectives are objectives which expect accomplishment to be achieved in a short period of time. It is a goal that is achievable within the span of a year.
PCMM approach helps in guiding software organizations to select improvement auctioned based on the level of their workforce practices. These practices include work environment, staffing, communication, training, career development, team building and cultural development. The PCMM approach for HRD assumes that the people management practices improve in five stages of maturity- initial, repeatable, defined, managed and optimizing and that the capability of the organization can be improved by improving the capability of the working force and ensuring that all individuals are motivated towards the goal of the association.
Question 10: Write a short note on HRD Strategy Model.
Human resources ensures that organizations are able to acquire and retain individuals that they hire and the most effective way to do so is by following the HRD strategy model. This strategy recognizes that human resources are assets and that these assets are capable of being appreciated and can gain more knowledge over time and with experience. It does not only focus on hiring people with all sorts of talents but lays significant emphasis on the development of skills through training programs. This model improves human talents and motivates people and provides an environment for employees where they can work effectively and in healthy competition.
Question 11: Explain the utility of 'Training Process Pyramid'.
Question 12: What are 'on the job' and 'off the job' techniques of training and development?
On job training is when employees receive training while they remain in the workplace. on-the-job training techniques include demonstrations, projects, coaching and job rotations. Off the job training is when employees are trained at places away from the working environment and techniques involve lectures, role playing, case studies and simulations.
Question 13: Who are 'Blue Collar' workers?
Blue collar workers are a part of the working class who perform manual labour. These workers may be both skilled or unskilled.
Question 14: What are the basic causes of 'Grievances'?
Grievances in a work place may arise due to many reason. The basic causes however, are: wage revision and fixation, inadequate bonus, poor working conditions, favouritism, strained relations, too much discipline, layoffs, in appropriate behaviour of top management, victimization and insufficient health and safety devices.
Question 15: Write a note on 'Payment of Gratuity Act, 1972'.
The Payment of Gratuity Act extends to the whole of India and it provides for a scheme where bonuses are paid to employees who are engages in factories, mines, plantations, oilfields, railway companies, shops, ports or any others establishments. The bonus or gratuity is payable to the employee on termination of his employment after he has served a particular sector for not less than five years, when he resigns or on his death. Upon death the money will be given to an appointed nominee.
Question 16: Explain 'Walker's Model' for worker's participation in management.
Walker's model explains the importance of the participation of workers in managerial decisions in any organization and that workers can do so if there exists freedom of action in the company. Also if technology is simple and allows workers to make decisions they can contribute to the process. Walker explains that workers participation also depends on the human aspect as well. The workers attitude to participation, the workers perceived power to participate and his capacity to participate all affect the decision.
Question 17: Elaborate the functionality of 'Married Women's Property Act' of India.
Question 18: What are the necessary documents that have to be submitted for getting a license for agent ship in insurance business?
The following documents are required to obtain a licence: Agency application form, Identity card copy, Screening requirement- consent letter, letter from minimum 2 third party guarantors, 2 sets of completed agency agreements, salary slips, bank statements, Guarantor form duly completed.
Question 19: Mention any two insurance policies for handicapped.
High- Limit Disability insurance policy and Individual Disability Insurance Policy.
Question 20: What is 'Charter Policy Parity'?
Question 21: What are Moral and Morale Hazards?
A moral hazard is a habit that increases the chances of loss from a danger while morale hazards are attitudes that increase the probability of loss from any threats.
Question 22: What do you understand by subsidization?
Subsidization is the act of receiving money from subsidies which are basically benefits given by the governments.
Question 23: What are ' Waiver' and ' Estoppel'?
A waiver is when a right is voluntarily suspended while an Estoppel is a rule of evidence where a person cannot deny the truth of a fact that is already established.
Question 24: Write a short note on 'Patient's bill of rights.
A patients' bill of rights is a list of guarantees that will be received by those who have medical care. It usually guarantees fair treatment, patient information and autonomy over medical decisions.
Question 25: Discuss the concept of Manpower Audit.
Man power audit tells the number of employees within an organization that form the basis and structure of business operations and analyzes and determines the findings of audits. Question 26: Explain the concept of management by objectives.
Management by objectives is a framework which aligns the actions and doings of employees in an organization with the goals of that particular organization. It ensures that everyone is knows exactly what they must be doing and when they should be doing it.
Question 27: Write a note on Employee state insurance scheme.