Sample Assignment MS-43

Jan-June 2016

Course Code MS - 43 Course Title Management Control Systems Assignment Code MS-43/SEM - I/2016

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School of Management Studies

INDIRA GANDHI NATIONAL OPEN UNIVERSITY MAIDAN GARHI, NEW DELHI – 110 068

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1. Discuss the interlinkages between some of the new management techniques such as TQM, JIT and Activity Based Costing, with the conceptual foundations of Management Control Systems. Inter-linkages between TQM, JIT and Activity Based Costing in MCS- Fundamental idea in TQM is the ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------in Operational controls/Task control. The customer focus has been brought in sharply and the concept of quality has been redefined from the viewpoint of customer. ---------------------------------------------------------------------------------------------------------------------------------------------------------------- customer and the producer. It has also strengthened the coordination between the marketing and the manufacturing divisions with the organizations.

Quality circles evolved as -----------------------------------------------------------------------------------------------------------------------------

------------------------------------------ search for ways to improve performance in relation to various tasks being performed by the

work force. Thus, task control is facilitated through various techniques of TQM such as kaizen and quality circles.

In the literature on TQM, three -----------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

----------and the task control.

------------------------------------------------------------------------------------waste elmination etc are aimed at task performance and

operations management. Thus, TQM is essentially an operations management technique and largely belongs to the third level of

control hierarchy viz. the task control.

Just-In-Time entered the -----------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ waste by reducing the time products spend in the productive process and

eliminating the time products spend on activities that don't add value".

Since holding -------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------------------------------carry

the inventories.

There are two approaches to business:

1) Produce------------------------------------------------------ orders.

2) Get the --------------------------------------------------------.

For example, in case ----------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------------------------------,

they have to ensure Just-In-time delivery. For this they must carry inventories to fulfil the customers’ demands.

JIT can be -----------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------------------be

"Minimum Inventory Driven System" (MIDS), but catch phrases have their own appeal.

Activity Based Costing (ABC) is -------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------is called an activity based-cost system (ABC)",

It has been pointed out that ---------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

------ for overhead allocation.

ABC has important implications ---------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------to realign the product basket. Hence, ABC is essentially a tool for strategic

planning and strategic think. Herein lies its linkage with the control system hierarchy.

JIT/TQM emphasis on waste reduction, -----------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

----------------------. Synergy is created between JIT and EMS as the environmental awareness of a firm grows. This synergy leads

to new thought processes and innovative concepts that add value to the firm by fully utilizing and redefining resources.

The above discussion indicates that -----------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

---------------------------, TQM has its usefulness for the operational controls. Though of different origin, the two together can be

integrated with the management control systems. Figure BELOW provides this integrated framework.

Using the ------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------and Total Knowledge Management.

According to Steve R. Letza --------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------- the use of resources by activities. ABC

therefore can generate the accounting information that is needed for TQM to evaluate costs.

2. Select any Organization of your choice and study in detail whether Responsibility Centers are essential for that Organization or not? If you think the Responsibility Centers are essential describe how the Organization should go about it.

Responsibility -------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------- define exactly what assets and activities each manager is responsible for.

How to classify any given department depends on which aspects of the business the department has authority over.

Managers ------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------------------------- a

responsibility report.

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

Responsibility centres are essential for any organization and they are helpful in many forms. They are as follows:

Revenue centres -------------------------------------------------------------------------------------------------. To evaluate a revenue center’s

performance, look only at its revenues and ignore everything else.

Revenue centres have some drawbacks. Their evaluations are based entirely on sales, so revenue centers have no reason to control

costs. This kind of free ----------------------------------------------------------------------------------------------------------------- increase

sales (giving away salty treats to increase drink purchases, perhaps).

Cost centres usually ----------------------------------------------------------------------------- only make goods or services, they have no

control over sales prices and therefore can be evaluated based only on their total costs.

One way for a cost centre to -------------------------------------------------------------------------------------------- goods. When dealing

with cost centres, you must carefully monitor the quality of goods.

Examples include ------------------------------------------------------------------------------ and contact centres.

Although they are not always demonstrably profitable, a expense centre adds value indirectly or fulfils some other corporate

mandate. For example, -------------------------------------------------------------------------------------------------------------------------------

--------------------------------------- service may lead to more customers and increased customer loyalty.

Because --------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------translate into

bottom-line figures.

Business metrics are sometimes employed to quantify the benefits of a cost centre and relate costs and benefits to those of the

organization as a whole. In ---------------------------------------------------------------------------------------------------------------------------

----------- call are used to justify current or improved funding.

Another example of an expense ---------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

------------countries where the customer service representatives are not native speakers, making it somewhat inconvenient for

customers who may have a hard time communicating with them. This is a result of the perception of such services as expense

centres and a bid by the companies in question to reduce the money spent on such services at all costs.

One common --------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------— will

still be maintained.

Profit centres are businesses -------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ They often select the merchandise to buy and sell, and they have the power to

set their own prices.

Profit centres are evaluated based on controllable margin — the -------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------wants: earn profits.

Classifying responsibility ------------------------------------------------------------------- evaluated based on revenues and expenses, no

one pays attention to their use of assets. This scenario gives managers an incentive to use excessive assets to boost profits.

For managers, the upside ----------------------------------------------------------------------------------------------- nothing; managers of

profit centres aren’t held accountable for the assets that they use.

This flaw in the evaluation of --------------------------------------------------------------------------- centres use assets or by simply

reclassifying a profit centre as an investment centre.

You could call ------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------------------------their

performance.

To improve return on investment, the manager can either increase controllable margin (profits) or decrease average operating

assets (improve productivity).

Using -----------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------------

Example of Responsibility Centre

The Sarva Shiksha Abhiyan emphasizes ---------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------------------would need to be

constituted at various operational levels, namely - national, state, district and sub district. The following could be involved in the

groups:

National level - NCERT, ---------------------------------------------------- educationists.

----------------------------------------------------------------------------------------------------, experts and eminent educationists.

District level - DIETs, ------------------------------------------------------------------------, innovative teachers from the districts, NGOs.

Sub-district - -----------------------------------------------------------------------------------, innovative teachers.

The organization I am referring here is MSA Safety -----------------------------------------------------------------------

------------------------------------------------------------------------------------------------------ in MSA:

It has a well-defined type of --------------------------------------------------------- in keeping, developing, replacing and

reducing the assets;

It ----------------------------------------------------

It has an organizational, ------------------------------------------------------------- in defining it;

It plans --------------------------------------------------------------------------------------

It has its ------------------------------------------------------------------------

It -------------------------------------------------------------------------------------------;

It evaluates ----------------------------------------------------------- resources;

It ---------------------------------------------------------------------------- results;

It devises -----------------------------------------------------------------------, the final balance;

It ---------------------------------------------------------/ or profit;

It takes --------------------------------------------------------------- obtained;

It is not ----------------------------------------------------------------------------------- within the entity;

It cooperates with other ------------------------------------------------------------------------- conventions;

It -------------------------------------------------------- performance;

It may ---------------------------------------------------------------------------------------- economic agreements;

It has a ------------------------------------------------------------------------------- centre.

Role of Responsibility Centres is MSA Safety Company-

----------------------------------------------------------------------------------------------------------------------- so it can take action

before the external events take place;

Much easier -----------------------------------------------------------------------------------------, of conceptions and possibilities

of the workforce, of the ---------------------------------------------------------------- provided by the local suppliers;

-------------------------------------------------------------------------- under unexpected circumstances;

Increasing the time for central -------------------------------------------------------------------------------------------------------------

---------------------------------------------------- management, when the managers of responsibility centers keep the liberty of

making decisions related to the centres’ activity, overlapping the overall objectives of the company.

Thus based on above discussion we can say that responsibility centres are very important for any company.

Solution- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

4. Explain as to how a service organization is different from that of a manufacturing organization? Do these differences affect the control system design of these organizations? If yes how. Service Organisation Vs -------------------------------------------- Goods

The key --------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------- produce physical goods that customers can see and touch.

Inventory

Service -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------organization. -------------------------

Service firms --------------------------------------------------------------------------------- the scope and content of services in advance of

any orders. Service firms generally produce a service tailored to customers' needs, such as 12 hours of consultancy, plus 14 hours

of design and -------------------------------------------------------------------------------------------------------- forecast of customer

demand. However, producing goods that do not meet market needs is a poor strategy.

Labor

A service firm ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------costs are low.

-----------------------------------

Service firms do not ------------------------------------------------------------------------ service can be located anywhere. For example,

global ---------------------------------------------------------------------------------------------------------------------------- service skills and

knowledge from offices around the world. -------------------------------------------------------------------------------------------------

operations. Production does not necessarily take place on the manufacturer's own site; it can take place at any point in the supply

chain.

Service Operations vs. Manufacturing Operations

Service and -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------an organization is run.

Characteristics

Manufacturing operations -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------many industries, such as banking, hospitality, advertising and consultancy.

Customization vs. Standardization

In general, -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------always be the same.

Production Environment

Manufacturing -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of signs and tangible cues, such as colors and sounds designed to enhance the customer experience.

Operations Management

In a -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------stock and when to order.

Similar Issues

Service and -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------marketplace.

Role of Management Control System in Containing Risk

Banks and -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------levels i) Macro level; ii) Micro level.

The role of the ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- contained.

Credit risk: In order to minimise credit risk two areas of banking operation require special attention 1) Loan and Investment

policy; 2) Ongoing management of loan and investment portfolio.

Banks should ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of diverse risk factors of a counter party.

Interest rate risk: In order to ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Foreign Exchange Risks: The banks in general use the VAR approach to measure the risk associated with foreign exchange

exposure. Another strategy is to put ------------------------------------------------------------------------------------to put 100 percent risk

weight to open position limit in foreign exchange.

Liquidity Risk: All banks ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- (negative gap) in time bucket of 1-14 days and 15-28 days should not exceed 20% of the cash outflows.

Apart from -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------which is responsible for introduction of internal controls system for prevention of frauds.

In India the onsite inspection of banks are based of (CAMELS) model where CAMELS stands for (Capital adequacy, asset

quality, management, ---------------------------------------------------------------------------- control system should be designed in a way

that it is capable of measuring monitoring and controlling the above parameters.

5. Study the Brooke Bond (India) Ltd case given in Block – 5 and answer the questions given at the end of the case.

1. What triggered the introduction of profit centre system in BBI? Was the adoption of the profit centre structure, in your view, at the right time? Should the BBI have waited for some more years so that its recent diverse activities attained a level of maturity before introducing the concept of profit centres? Profit Centre was introduced in BBI ---------------------------------------------------------------------------------------------------------------

---, Meat, machinery, paper, Oleoresins and coffee.

The profit -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------basis, serving all profit centres.

Introducing profit --------------------------------------------------------------------------- for BBI but as we saw in the case company

diversified in many other categories after introduction of profit centre.

Many products were launched after -------------------------------------------------------------------------------------------- introduced profit

centre, that would give BBI much maturity to use this profit centre in better way.

Overall introducing profit centre -------------------------------------------------------------------------------------------------------------

diversification and in its business also.

The company gave -------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------the meat operation. It took some months, however, to implement the re

organisation on a new pattern before it became fully operational throughout the organisation.

2. What are your comments on the practices and procedures regarding? i) Determination of profitability and RO1 of Profit (or Investment) Centres, and The profit ------------------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------ price. There is no need for transfer pricing for other profit centres.

The investment base of -------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------basis, i.e., without deducting sundry creditors

and other current liabilities.

ii) Measuring of the performance of Profit Centres.

The ---------------------------------------------------------------------------------------------------------------------------------------------------------------------

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--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------e., after notional interest but before income tax).

3. Evaluate the strategy of the company and its recent diversifications.

According to ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- for this blend and Bru exceeds supply.

A second phase in the -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------first scientific meat processing plant set up in the country and is designed and integrated in such a manner that there is no wastage in operations. Even the effluent is used as fertilizer.

In the second phase of its diversification, the company also set up its oleoresins plant for export purposes, and an industrial

machinery (printing and packaging) business which together recorded a sales turnover of Rs. I crore in 1981-82.

In the third phase, ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------very good potential.

4. Do you share the optimism of the Chairman of the Company? The Chairman ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------by the Board of Directors.

The independence permitted the profit centres to finely tune their operations to profitability in their own product groups, whether

in commodity buying or -------------------------------------------------------------------------------------to the Chairman, had already

started showing results though it was barely nine months since the change was introduced. "Each profit centre was not working on

new ideas of their own, with greater relevance to their problems and opportunities.

There was an -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------results they produce.

5. What are some apparent strengths and weaknesses of BBI? Comment on the - i) Direct Selling System of the Company (should it be changed in favour of distribution through intermediaries?); and

-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------no outstandings.

BBI's direct selling -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------can possibly provide. For example, it could hardly be worthwhile for a wholesaler to promote the five paise tea packet which the company believes is the world's cheapest branded product, as his margin would be extremely ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------coffee, spices, blades, etc.

ii) Performance of the company.

The company gave serious -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------throughout the organisation.

The BBI has a successful track record to its credit. The company recorded an income of Rs. 217.24 crores for the financial year

ended 3° July 1982. The -------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------- the exports since 1977-78 have declined, the company has been

concentrating more on value-added exports. The company's net worth which was Rs. 879 lakhs in 1967 has risen to Rs. 3,002

lakhs by 1982.

The ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ at a company's post-tax return on net worth. It denotes the money for distribution to shareholders and available to the company for re-investment. The company has earned a post-tax return on net worth of 18 per

cent. The pre----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------per cent of its sales turnover of Rs. 212.69 crores in 1981-82.

The -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------new recruits move into top and middle level positions.

The company's Employee's Federation has had the good sense to steer clear of all political parties. Fortunately, for all the

constituents of the company, the apex level leadership from the very beginning has been provided by N.M. Barot, a leading light

in the Mazoor Mahajan, Ahmedabad, founded by Mahatma Gandhi at the turn of the Century. The influence of Barot and the

Mazoor Mahajan has kept industrial relations in BBI on an, even keel.

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