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MB0044 Q1. Write short notes on: • Outsourcing strategies for capital productivity • Implementation of operations • Basic competitive priorities • Market survey method of forecasting

Outsourcing strategies for capital productivity: When capacity requirements are determined, it is easy to figure out whether some goods or services can be outsourced. Outsourcing can reduce the capital and manpower requirements. Also, the available capacities can be used to augment the core competencies thus reducing the cost of the product or service to the customer. Further, outsourcing also helps in improved product design and even enables better networking and collaborations. However, lack of expertise,

MB0043 Q1. Discuss the impact of Globalization on HR

The tendency of firms is to extend their sales and/or manufacturing to new markets abroad, and for business everywhere. The one element that is unique about every nation or company is its workforce.
A workforce that is knowledgeable and skilled at doing complex things keeps a company competitive and attracts foreign investment. Well-trained workers attract global corporations, which invest and provide employment opportunities to the workers, which in turn generate additional training and experience.
Technology: The most important use of technology in HRM is in an organization’s Human Resource Information system.
Trends in the nature of work: Technological and globalisation trends are in turn producing changes in the nature of jobs and work. Following are a few trends in the nature of work:
·         Information technology and personal computers have allowed companies to relocate operations to locations with lower wages.
·         Increased use of part time and temporary workers.
A service society: An enormous shift from manufacturing jobs to service jobs.
·         For service jobs new types of knowledge workers and new HRM method to manage them.
Knowledge work and human capital: The distinguishing characteristics of companies

MB0042- Q1. What is production function and its uses? Explain the two types of production functions.

The entire theory of production centres revolves around the concept of production function. A “production function” expresses the technological or engineering relationship between physical quantity of inputs employed and physical quantity of outputs obtained by a firm. It specifies a flow of output resulting from a flow of inputs during a specified period of time. It may be in the form of a table, a graph or an equation specifying maximum output rate from a given amount of inputs used. As it relates inputs to outputs, it is also called “input-output relation.” The production is purely physical in nature and is determined by the quantum of technology, availability of equipments, labour, raw materials, etc. employed by a firm.
Uses of production function
Though production function may appear as highly abstract and unrealistic, in reality, it is both logical and useful. It is of immense utility to the managers and executives in the decision making process at the firm level.
There are several possible combinations of inputs and, decision makers have to choose the
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