BUSINESS ENVOIRNMENT

 MICRO AND MACRO ENVIRONMENT :- 

Every business organization is a part of the business environment, within which it operates. No entity can function in isolation because there are many factors that closely or distantly surrounds the business, which is known as a business environment. It is broadly classified into two categories, i.e. micro environment, and macro environment. The former affects the working of a particular business only, to which they relate to, while the latter affects the functioning of all the business entities.

So, in this article excerpt, we are going to discuss all the important differences between micro (internal) and macro (external) environment.

Comparison Chart

BASIS FOR COMPARISON	MICRO (INTERNAL) ENVIRONMENT	MACRO (EXTERNAL) ENVIRONMENT
Meaning	Micro environment is defined as the nearby environment, under which the firm operates.	Macro environment refers to the general environment, that can affect the working of all business enterprises.
Alternatively known as	Internal Environment	External Environment
Elements	COSMIC, i.e. Competitors, Organization itself, Suppliers, Market, Intermediaries and Customers.	PESTLE, i.e. Population & Demographic, Economic, Socio-Cultural, Technological, Legal & Political and Environmental.
Nature of elements	Specific	General
Are these factors controllable?	Yes	No
Influence	Directly and Regularly	Indirectly and Distantly

Definition of Micro (Internal )Environment

Micro environment refers to the environment which is in direct contact with the business organization and can affect the routine activities of business straight away. It is associated with a small area in which the firm functions. It is also known by the name Internal Environment or Task Environment.

Micro environment is a collection of all the forces that are close to the firm. These forces are very particular for the said business only. They can influence the performance and day to day operations of the company, but for a short term only. Its elements include suppliers, competitors, marketing intermediaries, customers and the firm itself.

• Suppliers are the ones who provide inputs to the business like raw material, equipment and so on.
• Competitors are the rivals, which compete with the firm in the market and resources as well.
• Marketing intermediaries may include wholesalers, distributors, and retailers that make a link between the firm and the customers.
• Customers / Consumers are the ones who purchase the goods for their own consumption. They are considered as the king of business.
• The firm itself is an aggregate of a number of elements like owners like shareholders or investors, employees and the board of directors.

Definition of Macro (External) Environment

The general environment within the economy that influences the working, performance, decision making and strategy of all business groups at the same time is known as Macro Environment. It is dynamic in nature. Therefore it keeps on changing.

It constitutes those outside forces that are not under the control of the firm but have a powerful impact on the firm’s functioning. That is why, it is also termed as an external environment which consists of individuals, groups, organizations, agencies and others with which the firm deals during the course of its business.

The study of Macro Environment is known as PESTLE Analysis. PESTLE stands for the variables that exist in the environment, i.e. Population & Demographic, Economic, Socio-Cultural, Technological, Legal & Political and Environmental. These variables, consider both economic and non-economic factors like social concerns, government policies, family structure, population size, inflation, GDP aspects, income distribution, ethnic mix, political stability, taxes, and duties, etc.

Key Differences Between Micro (Internal) Environment and Macro (External) Environment

The following are the major difference between micro (internal) and macro (external) environment:

1. Micro environment is the environment which is in immediate contact with the firm. The environment which is not specific to a particular firm but can influence the working of all the business groups is known as Macro Environment.
2. Micro Environment is also known as internal environment of business, whereas Macro Environment is the external environment.
3. The factors of the micro environment affect the particular business only, but the macro environmental factors affect all the business entities.
4. The micro environmental factors are controllable by the business. However, the macroeconomic variables are uncontrollable.
5. The elements of the micro environment affect directly and regularly to the firm which is just opposite in the case of the macro environment.
6. The study of the micro environment is described as COSMIC analysis. Conversely, PESTLE Analysis is a study of the macro environment.

Conclusion

Micro environment and macro environment, both cover the overall environment of business. So, they are more complementary rather than contradictory. The study of these environments will help to know the strength, weakness, opportunity and threat of business.

Management Information System

Introduction to MIS

Management Information Systems (MIS), referred to as Information Management and Systems, is the discipline covering the application of people, technologies, and procedures collectively called information systems, to solving business problems.

“'MIS' is a planned system of collecting, storing and disseminating data in the form of  information needed to carry out the functions of management.”

Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. Decision Support Systems, Expert Systems, and Executive Information Systems.

Management: Management is art of getting things done through and with the people in formally organized groups. The basic functions performed by a manager in an organization are: Planning, controlling, staffing, organizing, and directing.

Information: Information is considered as valuable component of an organization. Information is data that is processed and is presented in a form which assists decision maker.

System: A system is defined as a set of elements which are joined together to achieve a common objective. The elements are interrelated and interdependent. Thus every system is said to be composed of subsystems. A system has one or multiple inputs, these inputs are processed through a transformation process to convert these input( s) to output.

MIS DEFINITION:

The Management Information System (MIS) is a concept of the last decade or two. It has been understood and described in a number ways. It is also known as the Information System, the Information and Decision System, the Computer-based information System.

The MIS has more than one definition, some of which are give below.

1. The MIS is defined as a system which provides information support for decision making in the Organization.

2. The MIS is defined as an integrated system of man and machine for providing the information to

Support the operations, the management and the decision making function in the organization.

3. The MIS is defined as a system based on the database of the organization evolved for the purpose of providing information to the people in the organization.

4. The MIS is defined as a Computer based Information System.

Thought there are a number of definitions, all of them converge on one single point, i.e., the MIS is a system to support the decision making function in the organization. The difference lies in defining the elements of the MIS. However, in today’s world MIS a computerized .business processing system generating information for the people in the organization to meet the information needs decision making to achieve the corporate objective of the organization. In any organization, small or big, a major portion of the time goes in data collection, processing, documenting it to the people.

Hence, a major portion of the overheads goes into this kind of unproductive work in the organization. Every individual in an organization is continuously looking for some information which is needed to perform his/her task. Hence, the information is people-oriented and it varies with the nature of the people in the organization.

The difficulty in handling this multiple requirement of the people is due to a couple of reasons. The information is a processed product to fulfill an imprecise need of the people. It takes time to search

the data and may require a difficult processing path. It has a time value and unless processed on time and communicated, it has no value. The scope and the quantum of information is individual dependent and it is difficult to conceive the information as a well-defined product for the entire organization. Since the people are instrumental in any business transaction, a human error is possible in conducting the same. Since a human error is difficult to control, the difficulty arises in ensuring a hundred per cent quality assurance of information in terms of completeness, accuracy, validity, timeliness and meeting the decision making needs.

In order to get a better grip on the activity of information processing, it is necessary to have a formal system which should take care of the following points:

·         Handling of a voluminous data.

·         Confirmation of the validity of data and transaction.

·         Complex processing of data and multidimensional analysis.

·         Quick search and retrieval.

·         Mass storage.

·         Communication of the information system to the user on time

·         Fulfilling the changing needs of the information.

·         The management information system uses computers and communication technology to deal with

·         these points of supreme importance.

Objectives of MIS :

1. Data Capturing : MIS capture data from various internal and external sources of organization. Data capturing may be manual or through computer terminals.

2. Processing of Data :The captured data is processed to convert into required information. Processing of data is done by such activities as calculating, sorting, classifying, and summarizing.

3. Storage of Information : MIS stores the processed or unprocessed data for future use. If any information is not immediately required, it is saved as an organization record, for later use.

4. Retrieval of Information :MIS retrieves information from its stores as and when required by various users.

5. Dissemination of Information : Information, which is a finished product of MIS, is disseminated to the users in the organization. It is periodicor online through computer terminal.

1.    Characteristics of MIS :

1.      Systems Approach : The information system follows a systems approach. Systems approach means taking a comprehensive view or a complete look at the interlocking sub-systems that operate within an organization.

2.      Management Oriented : Management oriented characteristic of MIS implies that the management actively directs the system development efforts. For planning of MIS, top-down approach should be followed. Top down approach suggests that the system development starts from the determination of management’s needs and overall business objective. To ensure that the implementation of system’s polices meet the specification of the system, continued review and participation of the manager is necessary.

3.      Need Based : MIS design should be as per the information needs of managers at different levels.

4.      Exception Based : MIS should be developed on the exception based also, which means that in an abnormal situation, there should be immediate reporting about the exceptional situation to the decision –makers at the required level.

5.      Future Oriented :MIS should not merely provide past of historical information; rather it should provide information, on the basis of future projections on the actions to be initiated.

6.      Integrated : Integration is significant because of its ability to produce more meaningful information. Integration means taking a comprehensive view or looking at the complete picture of the interlocking subsystems that operate within the company.

7.      Common Data Flow : Common data flow includes avoiding duplication, combining similar functions and simplifying operations wherever possible. The development of common data flow is an economically sound and logical concept, but it must be viewed from a practical angle.

8.      Long Term Planning :MIS is developed over relatively long periods. A heavy element of planning should be involved.

9.      Sub System Concept :The MIS should be viewed as a single entity, but it must be broken down into digestible sub-systems which are more meaningful.

10.  Central database : In the MIS there should be common data base for whole system

Syllabus

MBA-107 BUSINESS ENVIRONMENT 4 Credits (3-1-0)

UNIT I          

   Business Environment-Meaning, Importance, Environmental Factors, Recent Political Environment, Recent Economic and Financial Environment, Planning In India-Planning Commision-Liberalisation and Planning, Industrial Policy: New trade policy-1991 onwards, Industrial Licensing in India

 UNIT II           

Indian Financial System : Monetary And Fiscal Policy, Economic Trends, Price Policy, Stock Exchange Of India, Role of regulatory institutions in Indian financial system – RBI and SEBI , National Income, Role of Industry in Economic Development, Foreign Trade and Balance of Payment, Poverty in India, Unemployment in India, Inflation, Human Development, Rural Development, Problems of Growth

 UNIT III  

   Direct & Indirect Taxes (MODVAT), (CENVAT),Competition Act 2002 & FEMA Acts, Philosophy and strategy of planning in India.   Liberalization, Privatization and Disinvestments, Special Economic Zone (SEZ) and their role and impact in International Business Environment, World Trade Organization (WTO), Redefining Value Preposition to MSMEs

 UNIT IV        

  Social Responsibility of business enterprises, New Economic Policy, Globalization, EXIM policy and role of EXIM bank, FDI policy, Multinational Corporation (MNCs) and Transnational Corporations (TNCs), Global Competitiveness, technology and competitive advantage, technology transfer - importance and types, Appropriate technology and technology adaptation.   

 Books & References:

 1. Shaikh & Saleem - Business Environment (Pearson, 2nd Edition) 

2. Francis Cherunilam – Business Environment, Text and Cases (Himalaya Publishing House, 8th Edition).  3. Mittal - Business Environment (Excel Books). 

4. V. Neelamegam – Business Environment (Vrinda Publications , 2nd Edition)

5. Fernando-Business Environment (Prentice hall) 

 6. Mishra S K & Puri V K - Economic Environment of Business (Himalaya Publishing House, 3rd Edition).  7. Paul Justin - Business Environment Text and Cases (Tata McGraw Hill) 

MBA-108 BUSINESS LAWS 4 Credits (3-1-0)

UNIT I           

  Contract Act, 1872 Definition of a Contract and its essentials, Formation of a valid Contract - Offer and Acceptance, Consideration, Capacity to Contract, Free consent, Legality of object, Discharge of a Contract by performance, Impossibility and Frustration, Breach, Damages for breach of a contract, Quasi contracts, Contract of Indemnity and Guarantee, Bailment and Pledge, Agency

UNIT II 

  Partnership Act, 1932 Definition of Partnership and its essentials, Rights and Duties of Partners : Types of Partners, Minor as a partner, Doctrine of Implied Authority, Registration of Firms, Dissolution of firms. Sale of Good Act, 1930 Definition of a Contract of Sale, Conditions and Warranties, Passing of Property, Right of Unpaid Seller against the Goods, Remedies for Breach

UNIT III  

 Negotiable Instrument Act, 1881 Definition and characteristics, Kinds of negotiable instruments, Promissory Note, Bill of Exchange and Cheques, Holder and Holder in due course, Negotiation, Presentment, Discharge from Liability, Noting and Protest, Presumption, Crossing of Cheques, Bouncing of Cheques Companies Act, 1956 Nature and Definition of a Company, Registration and Incorporation, Memorandum of Association, Articles of Association, Prospectus, Kinds of Companies, Directors: Their powers and duties, Meetings, Winding up.

 UNIT IV      

 Consumer Protection Act, 1956 Aims and Objects of the Act, Redressal Machinery under the act, Procedure for complaints under the act, Remedies, Appeals, Enforcement of orders and Penalties The Information Technology Act, 2000 Definition, Digital Signature, Electronic Governance, Attribution, Acknowledgment and Dispatch of Electronic Records, Sense Electronic Records and Sense Digital Signatures, Regulation of Certifying Authorities, Digital Signature Certificates, Duties of Subscribers, Penalties and Offences.  

Books & References:

 1. Gulshan J.J. - Business Law Including Company Law (New Age International Publisher, 13th Edition)

2. Kuchhal M.C. - Business Law (Vikas Publication, 4th Edition)

 3. Avtar Singh - Principles of Mercantile Law (Eastern Book Company, 7th Edition).

 4. Relevant Acts 

MBA-109 RESEARCH METHODOLOGY 4 Credits (3-1-0)

UNIT I           

 Marketing Research – Definition, Scope, Significance, Limitations, Obstacles in acceptance. Ethics in marketing research, Marketing Intelligence system  Research process – Management dilemma (problem) – decision problem – research problem – hypothesis statement – characteristics of a good hypothesis – drafting the research proposal  Various sources of market Information – Methods of collecting Market Information - Secondary data – sources – problems of fit and accuracy, Syndicated services

 UNIT II

             Exploratory designs – Descriptive designs - Longitudinal and cross-sectional analysis  Qualitative research techniques – (a). Based on questioning: Focus groups, Depth interviews, Projective techniques (b). Based on observations: ethnography, grounded theory, participant observation  Causal research – Basic experimental designs – internal and external validity of experiments 

 UNIT III           

Primary data – Questionnaire design - Administration and analysis considerations in design - Attitude measurement – scaling techniques. Observation method of primary data collection, Web based primary data collection – issues of reach, analysis, accuracy, time and efficiency  Sampling – sampling methods – sampling and non sampling errors – sample size calculation – population and sample size - large and small samples - practical considerations in determining sample size.  Data analysis – Univariate analysis – Bivariate analysis – Multivariate analysis, Simple and cross tabulation, simple and multiple regression, Factor analysis.

  UNIT IV

 Hypothesis testing – Types of tests and test selection, One sample test, Two-Independent Sample tests, Two-related sample tests. Chi-square test, tests for large and small samples.  Report writing – forms of report – fundamentals of a good report  

Books & References:

 1. Research Methodology – C.R. Kothari

 2. Methodology and Techniques of Social Research – Wilkinson, Bhandarkar

3. Research Methodology – Dr. V.P. Micahel

4. Research Design and Methods – Kenneth S. Bordens

 5. Business Research Methods – Donald R. Koope   

MBA-110 PRODUCTION & OPERATIONS MANAGEMENT 4 Credits (3-1-0)

UNIT I           

 Operations Management – An overview, Definition of production and operations management, Production Cycle, Classification of operations, New Product Development, Product Design, Plant Location, Layout Planning.  

UNIT II      

Forecasting as a planning tool, Forecasting types and methods, Exponential smoothening, Measurement of errors, Monitoring and Controlling forecasting models, Box- Jenkins Method. Productivity and Work study, Method study, Work Measurement. 

UNIT III

 Basic Concept & Philosophy of Supply Chain Management; Essential features, Benchmarking concept, Features and Implementation, Outsourcing-basic concept, Value Addition in SCM-concept of demand chain management.  Production Planning techniques, Routing Decisions, Line of Balance, Scheduling types & principles, master production schedule 

 UNIT IV

 Inventory Management – Objectives, Factors, Process, Inventory control techniques- ABC, VED, EOQ, SED, FSN analysis.  Logistics Management: Logistics as part of SCM, different models, inbound and outbound logistics, bullwhip effect in logistics, Distribution and warehousing management  Basic concepts of quality, dimensions of quality, Juran’s quality trilogy, Deming’s 14 principles, PDCA cycle, Quality circles, Quality improvement and cost reduction- 7QC tools and 7 new QC tools, ISO 9000-2000 clauses, coverage QS 9000 clauses, coverage. Six Sigma, Total Productive Maintenance (TPM)   

Books & References:

1. Krishnan Dr. Gopal - Material Management, (Pearson, New Delhi, 5th Ed.) 

2. Bisen & Singh-Operation & Logistics Management(Excel Books) 

3. Raghuram G. (I.I.M.A.) - Logistics and Supply Chain Management (Macmillan, 1st Ed.)  4. Krishnan Dr. Gopal - Material Management, (Pearson, New Delhi, 5th Ed.)

 5. R.V. Badi & N.V. Badi - Production & Operation Management (Vrinda Publications 3rd Edition) 

6. Chary - Production and Operations Management (Tata McGraw-Hill, 1997, 9th Edition) 

7. Adam Jr Everetl E. R J – Production and Operations Management (Prentice-Hall, 2000, 5th Edition)    

MBA-111 FINANCIAL MANAGEMENT & COST ACCOUNTING 4 Credits (3-1-0)

 

UNIT I

 Evolution of Financial-management, scope and objectives of financial management, agency problem, Time Value of Money, Valuation of bonds and stocks, Source of Long Term funds: Equity shares, Preference share, Debentures, public deposits, factors affecting long term funds requirements

UNIT II

 Capital Budgeting: Capital Budgeting process, Capital Budgeting Techniques Capital Structure: Determinants of Capital Structure, Capital structure theories, Cost of Capital, Operating and Financial Leverage. Management of Retained Earnings: Retained earnings & Dividend policy, Lease financing: Concepts, types of leases, Advantages and disadvantages of leasing, Working Capital: Concept factors affecting working capital requirements, determining working capital requirements

 UNIT III

 Cost Accounting-Meaning, Scope and Classification of costs, Absorption costing, marginal costing, methods of valuing material issues, Introduction to Break Even Analysis, Use of Cost-data in managerial Decision-making with special reference to pricing and make or buy decisions. Introduction to Standard Costing including Variance Analysis – materials and labour variances, Cost Control Techniques-Preparation of budgets and their control, Zero base budgeting. Standard costing and Variance analysis, Responsibility accounting

 UNIT IV 

 Introduction to recent developments in cost management: Introduction to concept of Price Level Accounting, Human Resource Accounting, Target Costing, Kaizen costing Activity based costing, Life Cycle Costing.Introduction to Tally Software Package in Accounting – Creating Companies, journal entries and ledger accounts.  

Books & References:

1. Maheshwari, S.N. (14th ed., 2004). Management Accounting and Financial Control. Sultan Chand & Sons.

2. Maheshwari, S.N. (14th ed., 2004). Principles of Management Accounting. Sultan Chand & Sons, New Delhi.

3. Maheshwari, S.N. (2004). Corporate Accounting for Managers. Vikas Publishing House, New Delhi.

4. Narayana Swamy (2nd Ed., 2005). Financial Accounting a Managerial Perspective. Prentice Hall of India.   

MBA-112 SUPPLY CHAIN MANAGEMENT 4 Credits (3-1-0)

UNIT I           

 The Foundation of Supply Chain Management-Overview and Evolution of Supply Chain Management; Supply Chain Concepts and Models; Strategic Fit Concept of SCM; SCM- An Organization Spanning Activity; SCM as a Tool to Gain Competitive Advantage.

UNIT II   

 Key Processes of Supply Chain Management-Supply Chain Planning; Purchasing in Supply Chain; Supply Chain Network Design & Manufacturing; Inventory and Warehousing in SCM; Supply Chain Transportation Decisions.

 UNIT III   

 SCM Enablers-Tools and Techniques of Information & Communication Technology (ICT) in Supply Chain; Supply Chain Forecasting; Buyer-Supplier Partnership; Customer Relationship Issues in SCM Inventory Management: Concept, various costs associated with inventory, various EOQ models, buffer stock (trade off between stock out / working capital cost), lead time reduction, re-order point / re-order level fixation, exercises – numerical problem solving , ABC, SDE / VED Analysis, Just-In-Time & Kanban System of Inventory management.

 UNIT IV 

 SCM Administration-Supply Chain Cost Analysis & Pricing; Supply Chain Risk Management; HR Issues in SCM; Supply Chain Performance Measurement Recent Issues in SCM: Role of Computer / IT in Supply Chain Management, CRM Vs SCM, Benchmarkingconcept, Features and Implementation, Outsourcing-basic concept, Value Addition in SCM-concept of demand chain management 

Books & References:

 1. Chopra Sunil & Meindell P. : Supply Chain Management, Pearson Pub., New Delhi

 2. Agrawal D.K. : Supply Chain Management, Macmillan Press, New Delhi

3. Shah J. : Supply Chain Management, Pearson Pub., New Delhi

4. Ballou R.H. : Business Logistics / SCM, Pearson Pub., New Delhi

5. David Simchi-Levi et al. : Designing and Managing the Supply Chain:  McGraw-Hill.

 6. Jeremy F. Shapiro: Modeling the Supply Chain, Duxbury.  

MBA-113 MANAGEMENT INFORMATION SYSTEM 3 Credits (2-1-0)

 

UNIT I           

  Meaning and role of Management Information System, Development of Management Information system, Organisation for Management Information System, Systems and user training; Top Management Support for Management. Information System

UNIT II        

 Meaning, needs and dimension of Management information system Plan, Strategic Planning for Management Information System, Step in Planning; Information System; Steps in Planning Information needs for short and longrange plans budgeting for management information system. 

UNIT III    

 Information elements and data sources; constraints in Management Information System design, Information flow charts; Documentation and Formats in Management Information System, Alternative Approaches to Design.

 UNIT IV  

Methods and tasks in implementation, Planning for implementation, Behavioural implications in Management Information System, Approaches and process of evaluation of Management Information System. Case Study 

Books & References:

1. Brein James, Computer in Business Management An Introduction

2. Murdick, Robert G,.Information System for Modern Management

3. Contar Jesome, Management Information System

4. Bentley Trevoi, Management Information System and Data Process

 5. Davis Gozdam B. &Doson, Modern Information System

6. Jawedekar W.S., Management Information System

 7. Schulthesis, Management Information System.   

MAS-100                                            SOFT SKILLS                                       2 Credits (0-0-4)

List of activities that are to be carried out:

Lab session 1   : Listening and speaking practice exercises with communicative functions.

Lab session 2 : Practice with more advanced communicative functions

Lab session 3   : Pronunciation exercises

Lab session 4 : Making an oral presentation in English.

Lab session 5   : Listening to telephone conversations in English and completing the tasks.

Lab session 6 : Giving an exposure to and practice with model group discussion and interviews.

Lab session 7 : Giving insights into the format and the task types in the IELTS (International English                                    Language Testing System).

Lab session 8 : Understanding the format and the task types in the TOEFL (Test of English as a Foreign                               Language)

Lab session 9 : Administering the BEC (Business English Certificate) Diagnostic Test.

Lab session 10 : Completing the steps involved in Career, Life Planning and Change Management.

Lab session 11 : Setting goals and objectives exercises, Developing Soft Skills

Lab session 12 : Prioritizing and time planning exercises. Learning Material: Managing Time Multimedia                              Program CD

Lab session 13 : Personality Test through oral presentation Lab session 14 : Critical and creative thinking                             exercises.

Lab session 15 : Improving body language and cross-cultural communication with pictures.

Books & References:

1.                    Spoken English: A Foundation Course- Kamalesh Sadanand and Susheela Punitha, for Speakers of Indian Languages, Part 2 Audio CD, Hyderabad (Orient Longman), 2008

2.                    Professional Presentations- Malcome Goodale, (VCD) New Delhi (Cambridge University Press), 2005

3.                    Essential Telephoning in English (Audio CD)- Barbara Garside and Tony Garside, (Cambridge University Press), 2002

4.                    How to Prepare for Group Discussion and Interview (Audio Cassette)-Hari Mohan Prasad and Rajnish Mohan (Tata McGraw Hill)

5.                    International English Language Testing System Practice Tests (CUP)

6.                    Business English Certificate Materials (Cambridge University Press)

7.                    Understanding the TOEFL. Educational Testing Services, Princeton, US

8.                    Interactive Multimedia Programs on Managing Time and Stress

9.                    Developing Soft Skills-Robert M. Sherfield and et al (Pearson Education), 4^th edition, 2009

MAS-104      OPERATIONS RESEARCH FOR BUSINESS DECISIONS   4 Credits (3-1-0)

UNIT I           

Linear Programming: Definitions and scope of Operation Research (OR), OR model, Solving OR model. Two variable Linear Programming model and graphical method of solution, Simplex method, Dual Simplex method, Special cases of linear programming

UNIT-II         

Transportation Problems: Types of transportation problems, mathematical models, transportation algorithms, Assignment: Allocation and assignment problems and models, processing of job through machines.

UNIT-III        

Network Techniques: Shortest Path model, minimum spanning tree problem, Max-Flow problem and Min-Cost problem, Project Management: Phases of Project management, guidelines for network construction, CPM and PERT.

UNIT-IV        

Theory of Games: Rectangular games, Minimax theorem, graphical solution of 2 x n or m x 2 games, game with mixed strategies, reduction to linear programming model. Elements of Queuing model, generalized Poisson queuing model

Books & References:

10.                 Operation Research - Wayne L. Winston (Thomson Learning), 2003

11.                 Operation Research - Panneer Seevam, (PHI Learning), 2008

12.                 Total Quality Management - V.K. Khanna (New Age International), 2008

13.                 Operation Research : An Introduction - Hamdy H. Teha (Pearson Education), 2003