Question 1
a) Distinguish between Scientific Management and
Administrative Management.
(3 marks)
b) Outline the work and findings of one researcher in the
Scientific Management field.
(5 marks)
c) Identify four important management skills that help
managers succeed. Give an example of each.
(4 marks)
d) Explain (using an example) how managers should define
goals in the workplace, and outline the possible
consequences if managers do not clearly define goals.
(6 marks)
e) Explain Time Management in a work context.
Distinguish between urgent and important tasks in the
workplace, and outline the order in which these tasks
should be completed, in the interests of good time
management.
(7 marks)
Question 2
a) In the context of Engineer report writing, outline the 5
P’s approach, as covered in class.
(5 marks)
b) Outline important considerations when writing a formal
email in college or the workplace?
(4 marks)
c) Explain how and why an Engineering Team Manager
might:
i) Stimulate conflict in their team
ii) Manage and control conflict in their team
(8 marks)
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d) Imagine you are the Team Lead of a small workgroup.
Outline how you would communicate the following
information to your subordinates, and explain your
reasons for selecting this method of communication:
i) One person needs to be told their request for a
transfer has been approved. A second needs to be
told they are being transferred although they did
not ask for a transfer. A third person needs to be
told their request for a transfer has been declined.
ii) The project schedule for the next month needs to
be communicated to the team.
(8 marks)
Question 3
a) Given below (TableQ3a) are some financial ratios for
Arcline Engineering Ltd for years 2013 and 2012.
Explain how five of these ratios are calculated, comment
on what they tell us about the company and state whether
each ratio is an improvement on the previous year or not.
Ratio 2013 2012
Current ratio 1.41 1.72
Acid test 0.89 0.96
Total asset turnover 2.24 2.63
Return on Owners
Investment
16.3% 14.8%
Inventory turnover 3.8 4.3
Accounts
receivable turnover
3.7 3.8
Accounts payable
turnover
2.8 3.2
Table Q3a
(15 marks)
b) Explain why a company with a high current ratio
could still go bankrupt.
(6 marks)
c) With reference to the Sources and Uses of Funds
Statement, explain the following:
i) An increase in a liability is a source of funds
ii) An increase in assets in a use of funds
(4 marks)
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Question 4
a) Explain, using a diagram, what is meant by Break Even
Analysis. Include definitions and examples of fixed and
variable costs in your answer.
(5 marks)
b) Give an example of when a variable cost might not rise
with production levels? Use a graph to illustrate your
answer.
(5 marks)
c) A factory established to manufacture three products, A,
B and C has fixed costs of €16,000.
Current rates of production are 105 per week for A, 200
per week for B and 150 per week for C.
The total weekly variable costs are €200 for A, €400 for
B and €300 for C.
Sales price for A is €110, for B is €100 and for C is €90.
Find:
(i) The unit variable cost for each of A, B and C.
(ii) The unit contribution for each of A, B and C.
(iii) The current total weekly profit.
(iv) Assuming the fixed costs are distributed to A, B and
C in proportion to their turnover, determine the breakeven
number per week for A, B and C.
(15 marks)
Question 5
a) Draw the demand curve and explain.
Explain what is happening when a demand curve shifts to
the right.
Explain what is happening when a demand curve shifts to
the left.
Use examples and diagrams to illustrate your answers.
(9 marks)
b) Draw the supply curve and explain.
Outline which ‘other factors’ affect quantity supplied.
Use examples to illustrate your answer.
(8 marks)
PTO
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c) Explain the purpose and give an example of:
i) A ceiling price
ii) A floor price
Outline the possible (unintended) outcomes when both
are introduced.
(8 marks)
Question 6
a) Examining economic growth rates around the world
shows disparities in the rates at which different
country’s economies grow. What factors influence
the growth rate of economies?
(8 marks)
b) Explain, with the aid of a diagram, the complete
circular flow model of economic activity.
(12 marks)
c) Explain how Gross Domestic Product (GDP) is
calculated. What accounts for differences between
GDP and Gross National Product (GNP) in Ireland.
