Need Help with MBA HR Assignments: How to Tackle Real-World Challenges in Management and Economics?

Dear Sir/Madam, I need your help in preparing my MBA (HR) first-semester assignments. Below are the details of my assignments:

Principles and Practices of Management

How will you influence people to strive willingly for group objectives in your organization (target-based industry)? Apply your interpersonal influence through the communication process to attain your specialized goals.

Human Resources Management

Given the current state of recession in the IT industry, as a Human Resource Manager, how will you undertake Human Resource Planning at the macro level to overcome this crisis?

Financial Management

What will be your approach towards maintaining liquid assets to ensure that the firm has sufficient cash on hand to meet its obligations at all times?

Marketing Management

If you are employed in a supermarket, what techniques/tools will you use for data collection? How will you analyze the data and draw inferences? Lastly, how will you apply your market research to enhance sales and attract customers?

Organizational Behaviour

Assuming you are appointed as the campaign leader for a political party, how would you utilize your leadership skills to motivate your party members to secure the success of the party nominee in the elections? Focus on the individual, motivation, and leadership style.

Principles of Economics

Given the price elasticity of demand for textbooks is two and the price of the textbook is increased by 10%, by what percentage does the quantity demanded fall? Calculate the result and discuss the reasons for the decrease in quantity demand.

I would appreciate it if you could provide me with pointers for each assignment.

Hello,

Let's break down each of your assignments:

1. Principles and Practices of Management:
To influence people to strive willingly for group objectives, you could:
- Establish clear, achievable goals.
- Communicate openly and regularly.
- Show appreciation for their efforts.
- Use your power positively to inspire, rather than intimidate.

2. Human Resources Management:
In dealing with a recession, as a Human Resource Manager, you could undertake the following:
- Identify critical roles that directly impact the organization's success.
- Develop a strategic workforce plan that aligns with the business strategy.
- Implement training and development programs to enhance employees’ skills.

3. Financial Management:
To ensure the firm always has enough liquid assets, you could:
- Maintain a cash reserve.
- Monitor your accounts receivable closely.
- Keep an eye on your inventory management.

4. Marketing Management:
If working in a supermarket, tools for data collection could include customer surveys, loyalty programs, and sales data. Analyzing this data can provide insights into shopping habits. These insights can be applied to improve sales by tailoring promotions to customer preferences.

5. Organizational Behaviour:
As a campaign leader for a political party, you could:
- Clearly communicate the party's goals and how each member can contribute.
- Motivate the team by recognizing their efforts.
- Exhibit a leadership style that encourages open communication, collaboration, and mutual respect.

6. Principles of Economics:
If the price elasticity of demand for textbooks is two, a 10% increase in price will result in a 20% decrease in demand. The fall in quantity demand can be attributed to the higher price, which may make the textbooks unaffordable for some consumers.

Remember, the aim of these assignments is to help you apply theoretical concepts to practical situations. Try to illustrate your answers with real-world examples where possible. Good luck with your assignment!