CYPRUS INSTITUTE OF MARKETING

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BUSINESS ENGLISH ASSIGNMENT 1 Your company has decided to conduct an investigation into the possibility of increasing the number of ways in which technology is used throughout the organisation.

1 BUSINESS ENGLISH ASSIGNMENT 1 Your company has decided to conduct an investigation into the possibility of increasing the number of ways in which technology is used throughout the organisation. You have been asked to write a proposal concerning the use of technology in your department for the Managing Director. Write your proposal and include the following: - a brief outline of the current uses of technology in your department; - a description of what technological improvements could be made; - an explanation of the benefits these changes might bring; - recommendations for the kind of training that would be necessary. Deadline: 19 th December 2016

3 BUSINESS ENGLISH ASSIGNMENT 2 You are the Production Manager of Rhino Steel Industries (based in Leeds, UK). Your business specialises in the manufacture of steel chairs, cupboards and tables. The company now owns another, larger factory in Manchester. You have explored the possibility of creating an export market in India, Maldives and Bangladesh. There are many businesspeople from these countries who are willing to enter into partnership if you are able to supply office furniture, cabinets and lockers. You have found that with a few extra machines and the same work force, these items can be manufactured with high quality standards. The buyers request low cost, durability and an attractive finish. Write a report to your Finance Director requesting for funds to import the necessary machinery mentioning the benefits to your company once the project is launched and any other information you feel is relevant. Deadline: 10 th April 2017

5 BUSINESS LAW ASSIGNMENT 1 Everyone is assumed to be capable of entering into a contract, but some groups need protection because of either age or inability to appreciate their own actions. Do you agree? Discuss. Deadline: 19 th December 2016

6 BUSINESS LAW ASSIGNMENT 2 It is important to establish whether a contract is a contract of service or a contract for services. Do you agree? Discuss. Deadline: 10 th April 2017

7 BUSINESS ECONOMICS ASSIGNMENT 1 Two of the main market structures discussed in economics are monopolistic competition and monopoly. Analyse the main differences and similarities of the two models. Support your answer by providing an industry example for each model in a country s business environment. Deadline: 19 th December 2016

8 BUSINESS ECONOMICS ASSIGNMENT 2 Unemployment is currently one of the most serious challenges that contemporary economies must overcome. Using relevant examples, analyse the main types of unemployment and provide recommendations to effectively manage this phenomenon. You should also examine the effects of government intervention. Deadline: 10 th April 2017

9 PRINCIPLES OF MANAGEMENT ASSIGNMENT 1 Using appropriate theories, analyse the main approaches to leadership and discuss their application in organisations. Deadline: 19 th December 2016

10 PRINCIPLES OF MANAGEMENT ASSIGNMENT 2 Using appropriate theories, analyse the main types of organisational culture and discuss its critical success factors and importance in organisations. Deadline: 10 th April 2017

11 PRINCIPLES OF MARKETING ASSIGNMENT 1 Discuss the importance of Marketing Research for the success of a brand new product. Use appropriate examples to support your answer. Deadline: 19 th December 2016

12 PRINCIPLES OF MARKETING ASSIGNMENT 2 What are the main components of the Promotional Mix? What kind of factors do managers need to take into consideration before making their Promotional Mix decisions? Discuss using relevant examples. Deadline: 10 th April 2017

13 BUSINESS STATISTICS ASSIGNMENT 1 For the following terms associated with sample surveys, give an explanation of what each term means and an example of its occurrence or use in any sample survey of your choice. (a) (b) (c) (d) (e) (f) Sampling frame Systematic sampling Stratified sampling Non-response error Random sample Multi-stage sampling Deadline: 19 th December 2016

14 QUESTION 1 (50 marks) BUSINESS STATISTICS ASSIGNMENT 2 The median gross hourly pay for men and women in the UK has changed as follows since 2000: Hourly Pay Men Wome n (a) Using 2000 as the base year, convert both series into index numbers and discuss the gender gap in pay. (18 marks) (b) The Retail Prices Index (RPI) and the Consumer Prices Index (CPI) are both based upon prices of around 700 items. For both indices, items are given different weights based upon their importance. Describe how the price information is gathered and how the weights are determined. (12 marks) (c) A random selection of items consumed by most households had the following prices in January 2006 and May Average monthly spending per household on each item is also stated:

15 Price Average Spending Item Unit Jan 2006 May 2013 per Household Unleaded Fuel litre Milk 2 pints Eggs (large) TV Licence (colour) Annual (i) Calculate the aggregate price index for the group of items in May 2013, with January 2006 as the base. (6 marks) (ii) Calculate a weighted average of price relatives for the group of items in May 2013, with January 2006 as the base. (8 marks) (iii) Explain why the weighted average is the more appropriate measure of the overall increase in prices. (6 marks) QUESTION 2 (50 marks) A retail organisation is investigating the turnover at its outlets located in airport terminals and has found the following data for the size of each outlet (floor area in square metres) and its average weekly turnover (in thousands) over the past year. Outlet A B C D E F G H I J Size (S) Turnover (T) S = 184 T = 31 Cov(S,T) = 4.92 σs = 5.59 σt = (Cov = Covariance and σ = standard deviation) (a) Present the data as a scatter diagram and discuss the association between floor area and average weekly turnover. (15 marks)

16 (b) Which of the following is the correct value for the correlation coefficient? (Please give a reason for your choice unless you calculate the value) (7 marks) (c) Find the equation of the line of best fit that would be used to predict the turnover from the size. (10 marks) (d) An outlet of size 30 square metres is due to open shortly. Based upon the above analysis, what would be its predicted turnover? (6 marks) (e) Discuss the statistical validity of this prediction and discuss any factors other than the floor area that might affect the average weekly turnover. (12 marks) TOTAL MARKS: 100 Format: Work should be typed and submitted electronically via Turnitin. Deadline: 10 th April 2017

Maths Tables and Formulae wee provided within the question paper and are available elsewhere on the website.

Maths Tables and Formulae wee provided within the question paper and are available elsewhere on the website. Examination Question and Answer Book Foundation Level 3c Business Mathematics FBSM 18 November 00 Day 1 late afternoon INSTRUCTIONS TO CANDIDATES Read this page before you look at the questions THIS QUESTION