Business Communication - Assignment Solution

Question No.1                                                                                                        (5)

Which theory of communication do you prefer from three theories of communication present in your course and why?

Answer:

I prefer “Rhetorical Theory” because of following:-

1. It is not linear, but circular.
2. It is not just sending a message to be received, but producing a response.
3. It is not static, but dynamic.
4. It is more effectiveness for the business communicators.

Question No.2                                                                                                        

(a)        Describe the traits of a good communicator.                             (5)

Following are the traits of good communicators:

• Perception

• Precision

• Credibility

• Control

• Congeniality

Perception: They are able to predict how you will receive their message. They anticipate your reaction and shape the message accordingly. They read your response correctly and constantly adjust to correct any misunderstanding.

Precision: They create a ‘meeting of the minds’. When they finish expressing themselves, they share the same mental picture.

Credibility: They are believable. They have faith in the substance of their message. You trust their information and their intentions.

Control: They shape your response. Depending on their purpose, they can make you laugh or cry, calm down, change your mind or take action.

Congeniality: They maintain friendly, pleasure relations with you. Regardless of whether you agree with them. Good communicators command your respond and good will. You are willing to work with them again, despite their differences.

(b)       What is the role of proximity and artifacts in non verbal communication?  (5)

Proximity (Use of Space)

• Proximity means nearness, in terms of physical space. How people use their personal space and that of others communicates a message. This response to spatial relationships in formal, informal and intimate setting indicates how that person perceives and feels in that space.

• People also use their height and weight to convey a message. If you tower over other people in a way that intrudes on their personal space you may cause their discomfort and withdrawal.

• Personal space varies according to:

• Gender

• Status

• Roles

• Culture

• Research has shown that Australians speaking to acquaintances or work colleagues leave about an arm’s length of space between themselves and the other person. People speaking to friends and family leave about half an arm or an elbow’s length between themselves and others. People in intimate relationships allow direct and close contact when speaking to each other. The use of space reflects the way people feel about others.

Artifacts

• Artifacts are objects used to convey nonverbal messages about self-concept, image, mood, feeling or style. For example, perfume, clothes, lipstick, glasses and hairpieces project the style or mood of the wearer. Many artifacts are common to the group but we also use artifacts, particularly clothing, as an individual form of communication.

• Appearance and cloth are important and highly visible parts of nonverbal communication. Consider the different between the clothes you wear to the beach and the clothes you wear to a job interview. The choice of clothes reflects your mood and your attitude to the occasion. Other people note and place their own interpretation on your dress.

• Even if you decide you will not bother about personal appearance or clothes, others will read this message as part of your nonverbal communication.

Human Relations MGMT611 - Assignment 01

Many people think of stress a simple problem but in reality, stress is complex and often misunderstood. Everyone experiences it in varying forms and degrees every day. List down the organizational stressors and what consequences will be caused in employees’ behaviors at organizational level? (Organizational stressors 10+ Consequences 10, words limit=200). 

Solution:-

            Organizational stressors occurs when the workers feels anxiety or frustration from their work that they cannot control. These are situation where there they cannot do their jobs according to their skills and knowledge. They may face incompatible demands from their work environment. Or they are not admired according to expectations for their job activities. Organizational stressors affect the potential health of worker facing stress due to specific reactions in the bodies. Following may be organizational stressors.

• Role uncertainty and role conflict
• Work overload or underload
• Improper working conditions
• Responsibility for others
• Job dissatisfaction
• Isolation
• Under utilization of skills
• Job insecurity
• Lack of job knowledge

·         Workplace Violence

•  

The Consequences of Stress for the Organization

• There is a direct link between stress and heart disease
• dissatisfaction at work
• Accidents and certain forms of cancer.
• Work related mental health problems
• Increase in absenteeism rates.
• Exit from job
• Loss of Life
• Low productivity
• This increase in incidental absences as well as short-term and long-term disabilities
• Decline in the morale of the worker.
• Organizations incur additional costs for temporary staff and overtime.
• Increase in Group insurance cost
• Increase Health care expenses

Economics Assignment

Question 01
A firm pays in cash $250000 in wages, $55430 in interest on borrowed money capital and $74320 for the yearly rental of its factory building. If the entrepreneur worked for somebody else as a manager, he would earn at most $44500 per year and if he lent out his money capital to somebody else in a similarly risky business, he would at most receive $16600 per year. Keeping in view the above information:
(A) Calculate:
a) The explicit cost of the firm.
b) The implicit cost of the firm.
c) The total cost of the firm.
(B) If the entrepreneur received $495680 from selling his years output, then calculate his total profit.
(C) What will be the total profit if the entrepreneur’s total revenue were $413934 instead?
(Marks: A = 2+2+2, B = 2, C = 2)
Question 02
(A) Find the value of multiplier if:
a) MPC = 0.39
b) MPS = 0.64
(B) If the value of multiplier is 2.49 then find out:
a) MPC
b) MPS
(C) What is the relationship between the value of multiplier and MPC?
(D) Find the change in equilibrium level of output when there is a $25 increase in investment spending and the MPC is 0.75.
(Marks: A = 3, B = 3, C = 1, D = 3)

Solution

Question 01

Answer: (A)

a) Explicit Cost

Wages + Interest on borrowed Capital + Factory Rent

$ 250,000 + $ 55,430 + $ 74,320 = $ 379,750

b) Implicit Cost

Cost of working for somebody else as manager + Cost of lending money to somebody else

 $ 44,500 + $ 16,600 = $ 61,100

c) Total Cost

 Explicit Cost + Implicit Cost = Total Cost

$ 379,750 + $ 61,100 = $ 440,850

(B) Total Profit

Revenue – Explicit Cost = Total Profit

$ 495,680 - $ 379,750 = $ 115,930

(C) Total Profit (if the entrepreneur’s total revenue were $413,934)

 Revenue – Explicit Cost = Total Profit

$ 413,934 - $ 379,750 = $ 115,930

Question 02

Answer: (A)

a) Value of Multiplier

MPC= 0.39

Multiplier = ?

1 / (1-MPC) =   1/ 1-0.39 = 1/0.61 = 1.6393

b) Value of Multiplier

MPS = 0.64

1 / (MPS) =   1/ 0.64 = 1.5625

(B)

a)

Multiplier = 2.49

MPC =?

MPC    = 1 - 1/ K

            = 1 – 1/ 2.49

            = 1 – 0.4016

            = 0.5984                     

b)

Multiplier = 2.49

MPS = ?

MPS =   1/multiplier = 1/ 2.49 = 0.4016

(C)

The value of multiplier is directly related to value of MPC. When MPC decreases value of multiplier will also decrease. When MPC increases value of multiplier will also increase.

(D)

Delta Y = $ 25

MPC = 0.75

Multiplier = 1/1 - 0.75 = 4

Delta y = K (Delta L)  

= 4 ($ 25)

= $ 100

ECO401 Assignment solution

1   The process by which resources are transformed into useful forms is 

A.    capitalisation.

B.     consumption.

C.     allocation.

D.    production.

  2   The concept of choice would become irrelevant if 

A.    capital were eliminated.

B.     scarcity were eliminated.

C.     we were dealing with a very simple, one-person economy.

D.    poverty were eliminated.

  3   Which of the following is not a resource as the term is used by economists? 

A.    money.

B.     land.

C.     buildings.

D.    labour.

  4   Capital, as economists use the term, 

A.    is the money the firm spends to hire resources.

B.     is money the firm raises from selling stock.

C.     refers to the process by which resources are transformed into useful forms.

D.    refers to things that have already been produced that are in turn used to produce other goods and services.

  5   Opportunity cost, most broadly define, is 

A.    the additional cost of producing an additional unit of output.

B.     what we forgo, or give up, when we make a choice or a decision.

C.     a cost that cannot be avoided, regardless of what is done in the future.

D.    the additional cost of buying an additional unit of a product.

  6   A graph showing all the combinations of goods and services that can be produced if all of society's resources are used efficiently is a 

A.    demand curve.

B.     supply curve

C.     production possibility frontier.

D.    circular-flow diagram.

 

  7   Periods of “less than full employment” of resources correspond to 

A.    points on the ppf.

B.     points outside the ppf.

C.     either points inside or outside the ppf.

D.    points inside the ppf.

  8   What lies is at the heart of the allocation of goods and services in a free-market economy?

A.    Concerns of equity or equal distribution among individuals.

B.     The order or command of the ruling government or dictator.

C.     The wishes of consumers in the market.

D.    The price mechanism.

  9   The phrase 'ceteris paribus' is best expressed as 

A.    'all else equal.'

B.     'everything affects everything else.'

C.     'scarcity is a fact of life.'

D.    'there is no such thing as a free lunch.'

10   Laboratory (or controlled) experiments cannot be performed in economics because: 

A.    of resource scarcity.

B.     economics is a natural science.

C.     of the difficulty of distinguishing between normative and positive statements.

D.    economics is a social science.

11  Positive statements are:

A.    value judgments

B.     verifiable or testable

C.     statements in the affirmative

D.    good statements

12  The former Soviet Union was an example of:

A.    a planned economy

B.     free-market/capitalism

C.     dictatorship

D.    a mixed economy

13. Rational choice or rational decision-making involves

A.  comparing the net benefit of a choice with the total net benefit foregone of all the alternatives combined

B.  weighing up total costs and total benefits associated with a decision

C.  weighing up marginal costs and marginal benefits associated with a decision

D.  all of the above.

14 The PPF can be used to illustrate:

A. the principle of opportunity costs and increasing opportunity costs

B. the distinction between micro and macroeconomics

C. efficient, infeasible and inefficient production combinations

D. all of the above