SVKM’S NMIMS, Anil Surendra Modi School of Commerce ‘Academic Year: 2022 - 2023 Program: BBA/ B.Sc. Finance/ B.Com (Hons) Year: 2022 Semester: I Subject: Principles of Management Batch: 2022- 2025 Date: /11/2022 Duration: 1 hour Marks: 20 No. of Pages: 2 Mid Term Exami on Instructions: 1) Attempt ALL questions carrying 5 marks each, 2) Answers to each question (o be started on a fresh page. 3) Figures in brackets indicate full marks. SYNOPTIC ANSWERS FORM A BROAD OUTLINE. The students may write the answer along with examples/ustifications wherever asked for. QI. Read the following case and answer the question that follows- Uber Technologies Inc., the popular ride-hailing company, entered 2017 having doubled its bookings than 2016 and achieving a valuation of nearly $70 billion, making it the largest venture eapital-backed company in the world. Co-founder and CEO Travis Kalanick embodied the company, with a hard-charging attitude embedded in the company’s workplace culture that allowed it to successfully take on the entrenched taxi industry. Uber looked to enjoy another year of global growth in 2017, until lawsuits and a cascading series of scandals surrounding that same workplace culture led a group of powerful investors to seek Kalanick’s resignation to protect their investment, On June 21, 2017, co-founder Travis Kalanick (Kalanick) stepped down as CEO of Uber in the face of a shareholder revolt that made it untenable for him to stay on in that position, His resignation came after a review of practices at Uber including allegations of sexual harassment, a corporate theft lawsuit, defiance of government regulations, reports of misbehaviour, and a toxic corporate culture leading to the departure of some key executives and devoted employees. Uber even ignored corporate governance in its pursuil of growth and valuation, and refusal to obey ethical norms while hiding behind notions of disruption and innovation and faced difficulties that include everything from its profitability to peacekeeping, with its force of drivers providing millions of rides, to protracted legal battles with government regulators and competitors. Pursuant to the relinquishment of Travis Kalanick as the CEO out of such chaotic situation under his reign, discuss in brief the managerial skills required by a Explain with examples which skills will matter the most in increasing the product UBER and why (5 marks), The students may answer based on the following pointers- (3 marks for the explanation of the managerial skills + 2 marks for the second part of the question) Managerial skills are the knowledge and ability of the individuals in a managerial position to fulfil some specific management activities or tasks. This knowledge and ability can be learned and practiced.xq However, they also can be acquired through practical implementation of required activities and tasks Therefore, you can develop each skill through learning and practical experience as a manager. Types of managerial skills Robert Karz identifies three types of sills that are essential for a successful management process + Technical skills * Conceptual skills + Human or interpersonal management skills Technical skills They give the manager knowledge and ability to use different techniques to achieve what they want to achieve, Technical skills are not related only for machines, production tools or other equipment, but also they are skills that will be required to increase sales, design different nypes of products and mramanees He! the products and services, ete. Technical skills are most important for first-level Conceptual skills Human or interpersonal managerial skills Human or interpersonal management skills present a manager's knowledge and ability to work with People. One of the most critical management tasks is to work with people. Without people, there will not be a need for the existence of management and managers. These skills enable managers to become Jeaders and motivate employees for better accomplishments. Additionally, they help them to make mere effective use of human potential in the company. Simply, they are essential skills for all hierarchical levels in the company. Q2. Read the following case and answer the question that follows- Superstore is a chain of supermarkets focusing on the top 10 cities in India. In every city, there have multiple stores. These stores are large and stock everything from fruits and vegetables to groceries items like rice and packaged goods like maggi, sauces ete, In recent times, they have seen a dip in sales. The top management is of the view that the store managers are working on their hunches and not estimating demand requirements of the consumers correctly, the store managers fee! that to a large extent the organization is able to understand that consumers have been moving purchases online, and the marketing campaigns do not really capture the essence of the store. An external consultant has found a lot of efficiency issues and has found great opportunity to improve both the backend activities. They have also determined that the process used by HR in choosing people for the company is flawed and as a result there seems to be a people issue also. Do you think the company is facing an issue in just efficiency and why? If the company was looking to make a change — what management theory would you recommend for them to adopt and why. While explaining the management theory — explain how the theory would help Superstore (5 marks). The students may answer based on the following pointers- (1 mark for the first part and 4 marks for the second part of the question) _The best theory 10 adopt would be Systems theory. In the given case study ~ in order to solve the issues the company needs 10 do a deep dive and identify the root cause of the issue. (1 mark) The effectiveness of the company is also affected as sales are dropping due to a lack of understanding of changing consumer needs, lack of understanding of issue between top management and store ‘managers and the hiring process has flaws too. The systems theory states that the external environment affect the internal environment of the organization. The input and output and process are all interdependent on each other. All the subsystems are dependent on each other (4 marks) Q3. Read the following case and answer the question that follows- | The Global Smartphone Market is expected to grow by 4% during the forecast period (2022-2027). Factors such as increasing disposable income, development of telecom infrastructure, the emergence of budget-centric smartphones, and an increasing number of product launches are contributing to the growth of the smartphone market in Asian countries. The smartphone industry has been steadily developing and growing, both in terms of market size and models. Globally, by the end of 2022, 45% of the world's population is predicted to own a smartphone. Created by Harvard Business School professor, Porters five forces model has become an important tool for managers. Apply Porters five forces model on the current cell phone market in India (5 marks). ents the fol (6 marks for the explanation of the 5 factors) Understanding Porter's Five Forces Porter's Five Forces is a business analysis model that helps to explain why various industries are able to sustain different levels of profitability. The model was published in Michael E. Porter's book, Competitive Strategy: Techniques for Analysing Industries and Competitors in 1979. The Five Forces model is widely used to analyze the industry structure of a company as well as its corporate strategy. 1. Competition in the Industry- The first of the Five Forces refers to the number of competitors. The larger the number of competitors, along with the number of equivalent products and services they offer, the lesser the power of a company. Suppliers and buyers seek out a company's competition if they are able 10 offer a betier deal or lower prices. Conversely, when competitive rivalry is low, a company has greater power to charge higher prices and set the terms of deals to achieve higher sales and profits. 2. Potential of New Entrants Into an Industry- A Company's power is also affected by the force of new entrants into its market. The less time and money it costs for a competitor to enter a company's market ‘and be an effective competitor, the more an established company's position could be significantly weakened. An industry with strong barriers to entry is ideal for existing companies within that industry since the company would be able to charge higher prices and negotiate better terms. 43. Power of Suppliers- The next factor in the Porter model addresses how easily suppliers can drive up the cost of inpuls. It is affected by the number of suppliers of key inputs of a good or service, howunique these inputs are, and how much it would cost a company to switch to another supplier. The fewer suppliers to an industry, the more a company would depend on a supplier. ‘As a result, the supplier has more power and can drive up input costs and push for other advantages in trade. On the other hand, when there are many suppliers or low switching costs between rival suppliers, a company can keep its input costs lower and enhance its profits. 4. Power of Customers- The ability that customers have to drive prices lower or their level of power is one of the Five Forces. It is affected by how many buyers or customers a company-has, how significant each customer is, and how much it would cost a company to find new customers or markets for its output. A smaller and more powerful client base means that each customer has more power to negotiate for lower prices and better deals. A company that has many, smaller, independent customers will have an easier time charging higher prices to increase profitability. 5. Threat of Substitutes- The last of the Five Forces focuses on substitutes, Substitute goods or services that can be used in place of a company's products or services pose a threat. Companies that produce goods or services for which there are no close substitutes will have more power to increase prices and lock in favorable terms. When close substitutes are available, customers will have the option to forgo buying a company’s product, and a company's power can be weakened. ‘The Five Forces model can help businesses boost profits, but they must continuously monitor any changes in the Five Forces and adjust their business strategy. Q4. Read the following case and answer the question that follows- Disney Parks, Experience and Products Inc. informally known as Disney Parks isneyland) has multiple theme parks across the world from Europe, USA to HK. Disney Parks, Experiences and Products brings the magic of Disney stories and franchises to life through theme parks, resorts, cruise ships, unique vacation experiences, consumer products and more around the world. With experiences created by Walt Disney Imagineering, beloved characters come to life for guests and consumers of all ages. Disney has grown into one of the world’s leading providers of family travel and leisure experiences, with iconic businesses including six resort destinations with 12 theme parks and 53 resorts in the United States, Europe and Asia; a top-rated cruise line with four ships and plans for three more to be completed in 2022, 2024 and 2025; a luxurious fam: beach resort in Hawaii; a popular vacation ownership program; and two award-winning guided tour adventure businesses. IfDisney were to open a park in any of the metro cities in India basis your understanding of how a theme park works, explain with examples the types of plans (5 marks). based on the following pointer ‘(Marks will be-1 mark per point) Single Use Plan Operational/standing Plan — How the rides would operate, when the park would open Procedure ~"in case of a fire there is a procedure, Procedures for applying for promotions Policy/Corporate — Hiring policy, leave policy Rule - Alcohol is not allowed in the park eAeNn