MTTM 8 Solved Assignment 2021-22 , MTTM 8 Solved Assignment 2021-22 , MTTM 8 Assignment 2022 , FREE MTTM 8 Assignment , IGNOU Assignments 2021-22- Gandhi National Open University had recently uploaded the assignments of this session for MASTER OF TOURISM & TRAVEL MANAGEMENT for the year 2021-22. Students are recommended to download their Assignments from this webpage itself. They don’t need to go anywhere else when everything regarding the Assignments are available during this text only.
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MTTM 8 Solved Assignment 2021-22
Course Code: MTTM 8/MTM-8
Total Marks: 100
Assignment Code: MTTM 8/ MTM-8/ TMA/2021
Note: This TMA consists of ten questions, out of which you have to attempt any five. The question carries 20 marks each and should be answered in about 500 words. Send your TMA to the Coordinator of your Study Centre.
1. Explain in detail the stages of Product Design. What factors influence the choice of technology in establishing a new business? 20
1. Idea Generation:
The design process begins with understanding the purchasers and their needs. Ideas for brand spanking new products can come from a spread of sources both within and out of doors the firm. Internal sources include employees, research and development, marketing research sales department and reverse engineering.
The external sources include customers, legislation, environment, technology and strategic position of the organisation. Competitors also are the source of ideas for brand spanking new products or services. Perceptual maps, bench marking and reverse engineering can help companies learn from their competitors.
Perceptual maps helps to match customer perceptions of a company’s products with competitor’s products. it’s a visible method of comparing customer perceptions of various product or services:
1. Bench marking refers to finding the simplest in school product or process, measuring the performance of your product or process against it and making recommendations for improvement supported the results.
2. Reverse engineering refers to carefully dismantling and inspecting competitors products to seem for design features which will be incorporated to enhance one’s own products.
2. Screening Ideas:
The purpose of screening ideas is to eliminate those ideas that don’t appear to possess high potential then avoid the prices incurred at subsequent stages. Using group of individuals , proposals would be supported by graphics, models and an overview specification and judged against a group of criteria like necessity to the firms survival, role in filling out an existing product/service, degree of overlap with existing products and services, utilizing existing processes and capabilities, impact on overall sales and profits of the corporate .
To have a far better evaluation of ideas, each of the size of the ideas is scored on a 0-10 scale and every dimension is attached weights as per these dimensions. The resulting aggregate score helps choose which idea to progress and which idea should be dropped.
3. Feasibility Study:
Initial screening of the ideas is meant to prevent the ideas, which are unsuitable for further considerations. Feasibility study consists of a marketing research , an economic analysis, and technical and strategic analysis. Marketing takes the ideas that are generated and therefore the customer needs that are identified from the primary stage of the planning process and develops alternative product concepts. The marketing research through customer analysis and market survey assesses whether there’s an enough demand for the proposed product to take a position in developing further.
If the sufficient demand exists, then there’s an economic analysis that aims at establishing the assembly and development costs and compares them with estimated sales volume. The profit potential of the merchandise are often studied using quantitative techniques like cost benefit analysis, decision theory, net present value (NPV) or internal rate of return (IRR).The risk analysis is additionally administered . Finally, technical and strategic analysis cares with technical viability of the merchandise with reference to technology, process of manufacture, availability of materials etc. Performance specifications are written for product concepts that pass the feasibility study and are approved for development.
2. What do you mean by entrepreneurial competencies? Explain the steps for developing entrepreneurial competencies? 20
3. What is a Small Scale Enterprise (SSE)? Discuss the role of entrepreneurship in SSE an economic development. 20
4. Discuss the need for financial planning in small scale enterprises. Explain the types of loans in Indian perspective for such small scale businesses. 20
5. Define family business. Discuss the management control mechanisms in family business. 20
6. Differentiate between selling and marketing orientation? Explain in detail the market demand analysis. 20
7. What is SWOT analysis? Explain its importance in entrepreneurship. 20
8. Explain Human Resource Planning. Discuss in detail the need for training and development. 20
9. Discuss in detail the forms of a business organization. Discuss the characteristics of a Company. 20
10. Discuss the stages of growth for a small enterprise. Explain various Growth Strategies. 20
IGNOU MTTM 8 Solved Assignment 2021-22 : Gandhi National Open University had recently updated this session of 2021-22 MASTER OF TOURISM & TRAVEL MANAGEMENT assignments on their official university website. we’ve made your work easy by making the solved assignments directly on one portal so as that students can easily get the solved assignments in one go. Students are advised to download their MASTER OF TOURISM & TRAVEL MANAGEMENT IGNOU Assignments from this webpage itself with none hassle.
GUIDELINES FOR MTTM 8 Solved Assignment:-
You will find it useful to keep the following points in mind:
1. Planning: Read the questions carefully. Go through the units on which they are based. Make some points regarding each question and then rearrange these in a logical order. And please write the answers in your own words. Do not reproduce passages from the units.
2. Organisation: Be a little more selective and analytic before drawing up a rough outline of your answer. In an essay-type question, give adequate attention to your introduction and conclusion. The introduction must offer your brief interpretation of the question and how you propose to develop it. The conclusion must summarise your response to the question. In the course of your answer, you may like to make references to other texts or critics as this will add some depth to your analysis.
Please ensure the following before submitting your assignment :
1. Your enrolment number, name and address have been written correctly.
2. The title of the course and assignment number has been written clearly.
3. Each assignment on each course has been written on separate sheets and pinned properly.
4. All the questions in a particular section should be answered before attempting the next
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