International Journal of Indian Culture and Business Management (43 papers in press)
An analytical model for supplier selection
by Darshan Kumar, Seema Seema
Abstract: Supplier selection acts as the pivotal role in an enterprises business development, with future competitive ability in an industrial environment. The selecting process mainly involves evaluation of different alternative suppliers based on different criteria. Both qualitative and quantitative factors have to be considered and a trade-off is made between tangible and intangible factors while selecting a supplier. In the present paper, an analytical model has been developed for selecting supplier for Indian chemical organizations using TOPSIS method. In the present example, we have attempted to give empirical evidence to provide manufacturing managers a practical methodology for selecting suitable suppliers. It has been concluded that quality products are beneficial only if their customers are satisfied with the service being provided by the suppliers.
Keywords: Supplier selection; TOPSIS; service; quality; cost.
Financial Behaviour of Selected Telecom Companies in India: A Comparative Analysis
by Sadhna Shukla, T.N. Roopa
Abstract: The financial ratio analysis is considered as a powerful tool to illustrate the relative measures of firms financial strengths and weaknesses and is an indicator of potential problems of different aspects of a companys operations. The aim of this paper is to evaluate the financial performance with the help of ratio analysis of the leading telecom giants in India viz. Airtel, BSNL, Idea, Reliance Communications and Tata Communications. The key financial ratios used to estimate the financial behavior of telecom companies are profitability ratios, liquidity ratios, solvency ratios and efficiency ratios. The data used to calculate the ratios were collected from companies annual reports between 2009 and 2014, using the Internet as the primary medium. The analysis done reveals that Airtel and Idea dominate Reliance communication, BSNL and Tata communications in data revenue growth and subscriber base.
Keywords: Efficiency ratios, Financial ratio analysis, Liquidity ratios, Profitability ratios, Solvency ratios
A MOTIVE BASED SEGMENTATION OF INDIAN DOMESTIC TOURISTS
by Tapas Kumar Chatterjee, Bikramjit Rishi, Rajendra Nargundkar
Abstract: Tourism plays an important role within the Indian economy. To harness the full potential of this growing industry it is high time that a professional approach is adopted by tourism marketers in terms of their marketing strategies. This study makes an attempt to segment the Indian tourists. By us using the descriptive research design, data has been collected from 248 respondents for questionnaire development study and 208 for segmentation study. The results of this study suggest three types of Indian domestic tourists, viz (1) self explorers or lonely monks, (2) fun lovers or jolly johns and (3) adventure lovers or risky rookies exist in the Indian market. This segmentation will be useful in designing marketing strategies to lure these segments of the Indian tourists.
Keywords: Domestic tourists, Segmentation, Travel motives, Cluster Analysis,
AN EMPIRICAL STUDY ON ACCEPTANCE OF VIDEO ON DEMAND SERVICES IN INDIAN MARKET
by Esha Jain, Manish Madan
Abstract: The purpose of this study is to device a suitable business model to exploit the opportunities in Indian video on demand (VOD) service provider industry. To achieve the desired purpose, the researcher approached the respondents to find out their expectation and perceptions of service quality in VOD services experiences based on the dimensions of the SERVQUAL model. A quantitative research had been carried out for the purpose and this involved some quantitative analyses with the use of statistical tools (descriptive and inferential). The data obtained from the respondents using the VOD services of the services offered by the VOD service providers are in the quantifiable terms so that the required objectives which were framed for the study can be achieved statistically with the help of SPSS software version 20.0 for the analysis of the quantifiable data.
Keywords: Business Model; Factor Analysis; Service Quality; Video on Demand
Evaluating the Impact of Gender Sensitivity Training on Public Officers Attitudes -An empirical study
by Sangeeta Goel
Abstract: As more and more organizations have come to consider the short term training a quick fix for long persisting organizational problems like gender-based bias, it will be interesting to see if the resources invested in such quick fix training, yield , desired results. In order to determine if such results were possible, a study was conducted, using participants with N =220 in a gender sensitivity training (GST) programme. The initial survey was a pre-test, administered before training and the second survey was administered after a 10-day GST module. The two data sets (pre and post GST) were collected and compared using bi-variate statistical analysis. These results demonstrate that a gender sensitization programme of short duration could be of very limited help in addressing such problems being embedded in personality, takes time to change. The paper raises a very topical question if the resources engaged in these programmes are well spent.
Keywords: India , training , gender , Policy , bureaucracy , Gender sensitization ,empirical study , South Asian Management
Impact of HR interventions on quality of work life: evidence from healthcare units
by Tanaya Nayak, Chandan Kumar Sahoo, Pravat Kumar Mohanty
Abstract: The purpose of this paper is to examine the predictors of perceived quality of work life (QWL) by accentuating on human resource interventions in healthcare units. The study uses a structured questionnaire to collect data from 158 employees in the healthcare units of India. Data is analysed with tools like factor analysis and multiple regression analysis, using SPSS statistical software. The twenty items in the study describe five factors, namely compensation and rewards, managing grievances, conditions of work, employee welfare, and job security. The results reveal that the five HR interventions have a significant relationship with the degree of QWL of healthcare employees. This work provides a pragmatic view of the set of human resource interventions that are pivotal for better QWL of employees in healthcare organisations. The research also offers insights for healthcare managers, administrators, and practitioners for implementing these interventions.
Keywords: Quality of work life, Human resource interventions, Employees, Healthcare
The impact of country-level corporate governance on analyst boldness and performance with target price forecasts
by Samie Ahmed Sayed, Deepak Chawla
Abstract: This study investigates the impact of country-level corporate governance on analyst boldness and performance with target price forecasts in Asian markets. Results suggest that analysts working in countries with better corporate governance standards have higher boldness with target price forecasts reflecting higher confidence in a more transparent environment. However, the study fails to establish a consistent relationship between country-level corporate governance and analyst performance with target price forecasts. The positive effects of better country-level corporate governance on analyst target price performance are visible only in the short-term and not at the end of the forecast horizon of one year. Past studies document a positive relationship between analyst accuracy and better corporate governance in western markets; we find partial evidence of the benefits of better country-level corporate governance on analyst target price performance in Asian markets.
Keywords: corporate governance, equity research, analyst accuracy, target price forecasts
What Makes Employee Stay? Role of Psychological Empowerment in Organizational Commitment -Turnover Intentions Relationship: A Study on Indian Managers
by Shalini Srivastava, Deepti Pathak
Abstract: Purpose-The current study attempts to test the associations between the psychological empowerment, organizational commitment and turnover intentions amongst 293 middle-level executives handling technical profile. rnrnDesign/Methodology/Approach-The sample respondents were from the Indian industrial sectors of information technology (IT) and telecom. The response rate to the survey was 83.71 percent. Means, standard deviation, correlation analysis and hierarchical regression analysis, using the SPSS 18 statistical package, are administered on the sample. rnrnFindings-The study provides strong empirical relationship among constructs of psychological empowerment, organizational commitment and turnover intention. Employees displayed higher organizational commitment when they perceived an emotional bond with the organization and this increases their likelihood to remain in the organization. The findings show that psychological empowerment significantly affected the relationship between organizational commitment and turnover intentions and lower down the turnover intentions amongst executives by uplifting their commitment levels. rnrnResearch limitations/Implications- The study has some limitations in terms of sample, design, and method. First, the study is based on middle level employees in ICT sector only; future studies may explore employees from other sectors also. Second, responses were solicited from the employees of ICT companies in and around NCR, and therefore had limited geographical diversity. Another limitation in this research is use of self-report surveys. rnThe growing research on psychological empowerment has significant implications for practice in the Indian organizational setting as it significantly impacts organizational commitment and organizational outcomes. Organizations should work in the direction of providing its employees a competitive work environment, meaningful jobs, autonomy, recognition, challenge in order to enhance their psychological empowerment.rnrnOriginality/Value-The study contributes to research on psychological empowerment which has a great relevance in the ITC sector and contributes significantly in reducing the turnover rate of the managers in Indian context. rn
Keywords: Psychological empowerment; organizational commitment; managers; moderating effect; turnover intentions; retentionrn
Enterprise System in a Mid Sized Indian Manufacturing Organization- A Case Study
by Kapil Dev Singh
Abstract: High Foam is a mid-sized Indian process manufacturing organization. The case study dispels the popular myth that Indian small and medium enterprises, especially in the manufacturing sector, are not successful in adopting Information Technology for business advantage. The relentless endeavors and a soft style of the Chief Information Officer (CIO), the open support of the Managing Director and the Executive Directors and a gradual approach to building the ERP has resulted into a seamlessly integrated enterprise wide system. The case study highlights important learnings for small and medium manufacturing enterprises in India and other developing countries. These learnings can be categorized under three broad heads of CIO leadership approach, role of top management and the broader approach to developing and implementing the enterprise system or the ERP.
Keywords: India, SME, Manufacturing, Enterprise System, ERP, CIO, CEO
Market efficiency and information content of Indian commodity futures markets
by Vikas Pandey, Vipul
Abstract: This article examines the efficiency of pricing of eight commodity futures traded at Multi Commodity Exchange (MCX) and National Commodity & Derivative Exchange (NCDEX) of India. We find that the current futures prices and the expiration-day spot prices are generally cointegrated, and exhibit market efficiency. We also find evidence of predictive content in the futures prices for the future spot prices. This content varies among different commodities, and is more significant for the natural gas and agricultural commodities, which have higher storage and transportation costs. The risk premium is absent in the futures prices of most of our commodities, excepting two agricultural commodities and nickel.
Keywords: Commodity Futures, Market Efficiency, Predictive Content, Risk Premium
Quality of Financial Reporting Influence of Corporate Governance Regulations
by Sushma Vishnani
Abstract: This paper aims at analyzing the quality of reported earnings for A and B group companies listed in Bombay Stock Exchange of India. For this purpose, the theoretical model proposed by Dechow and Dichev has been used to assess the quality of reported earnings. The results of the study show that reported earning quality of A-group companies is superior to that of B-group companies. The results further show that there is a drastic improvement in the reported earning quality of B-group companies after the imposition of Clause 49 (the corporate governance related to mandatory disclosures for all listed companies) in January 2006.
Keywords: financial reporting, earnings quality, corporate governance, accruals quality
Role of Human Resource Flexibility in Organizational Performance: A study of Indian IT Firms
by V.V.Ajith Kumar, Snigdha Rai
Abstract: Present study examines the direct relationship between HR flexibility, and organizational performance. Also this study explores the moderating role of ethical culture in the relationship of HR flexibility and organizational performance. Data was collected via a questionnaire survey of 126 employees working in 65 major IT companies of Bangalore. The results indicate that all three dimensions of HR flexibility (Skill flexibility, Behavioural flexibility and HR practice flexibility) were significantly positively correlated with organizational performance (HR related performance and financial performance). Results of moderated regression analysis reveal the significant moderating role of ethical culture in HR flexibility and HR performance relationship. Limitations of the study and implications of the results are also discussed.
Keywords: Human resource flexibility; Skill flexibility; Behavioural flexibility; HR practice flexibility; Ethical culture; Organizational performance; CFA; Moderated Regression Analysis
The mediating impact of psychological capital (PsyCap) on mentoring outcomes of trust in management and person organization fit (P-O fit) - a conceptual model
by Rajesh Premchandran, Pushpendra Priyadarshi
Abstract: Though considerable research has happened on mentoring, the outcomes of mentoring have been less explored through the lens of positive organizational behaviour. In this paper, a conceptual model has been proposed describing the mediating impact of Psychological Capital (PsyCap) on the perceived outcomes of mentoring as measured by person-organization fit and trust in management. This answers the call for further research on interventions that can increase PsyCap among employees. The central proposition is that high quality mentoring leads to increase in trust in management and person-organization fit (P-O fit) and that this process is mediated through an increase in PsyCap. Hence this framework expands nomological network surrounding mentoring. It is also proposed that the increase in person-organization fit will also lead to increase in organizational commitment. Trust in management will moderate the outcome of effective mentoring as measured by career satisfaction is the final proposition. Research on the antecedents of P-O fit is limited and this understanding will further knowledge on the process through which organizations can enhance person-environment fit and trust in management through formal mentoring programs and describe what managers can do to aid and assist the success of such programs.
Keywords: Mentoring, psychological capital,Psycap, trust-in-management, person-organization fit, organizational commitment, career satisfaction, India
EXPATRIATES CROSS CULTURAL ADJUSTMENT CHALLENGE IN DIVERSE INDIA: A THREE LEVEL ANALYSIS
by Sahiba Sharma, Richa Dahiya
Abstract: As world is looking at the emerging economies for investment, India has become the latest hub. International assignments as an unavoidable part of globalization brings along with them a major issue of cross cultural adjustment, although India has witnessed expatriate management under British rule but the cultural diversity has made this country still an enigma for expatriates to understand. Therefore, our study aims at finding why expatriates find India challenging for cross cultural adjustment. It reviews the factors which force expatriates to come to India and also about the cross cultural adjustment challenges they face at macro, meso and micro level. The finding of the study shows an inverse relation between cross cultural adjustment and organizational challenges, which means higher cross cultural adjustment will create less challenges at workplace and a positive relation between cultural literacy and cross cultural adjustment. The study outcome lays down a foundation stone in India for future researches, as very less literature is available in context to India, the research discussion will be useful for the global strategist to get a better insight into India to re-vamp their strategies pertaining to expatriates in India.
Keywords: cross cultural adjustment, cultural challenges, expatriates, India, cultural diversity, cultural differences, national culture, organizational culture, cultural literacy, international assignments, Indian culture
Exploring the interconnections of consumer preference between Cause type and Cause scope in a Cause Related Marketing Activity: Evidence from Indian Context
by Sujo Thomas, Sonal Kureshi
Abstract: Cause Related Marketing (CRM) is defined by Varadarajan and Menon (1988) as a process of formulating and implementing marketing activities that are characterized by an offer from the firm to contribute a specified amount to a designated cause when customers engage in revenue‐providing exchanges that satisfy organizational and individual objectives. In the view of the growing significance of CRM in countries like India, it becomes crucial to understand what factors lead to effective implementation of CRM. This study will provide insights into both type and scope of cause and their bearing upon consumer CRM participation intention. Consumer data were collected using a structured questionnaire from the western region of India. Reponses pertaining to two aspects about the cause of the initiative, type of cause and scope of cause were collected. Results showed that consumers interests in participation were found to differ significantly across both type of cause and scope of cause.
Keywords: Cause Related Marketing, Cause Preference, Cause Scope, Social marketing, CRM Initiatives, CRM Awareness, CRM, India, Cause Type, Cause selection
INVESTIGATING THE MYTHS ASSOCIATED WITH IPOS OF SMALL AND MEDIUM ENTERPRISES : THE CASE OF INDIA
by Geet Kalra, Nirali Kansara
Abstract: Small and medium sized Enterprises play a major role in the sustainable development of a nation, creating employment opportunities and enhancing trade opportunities. India, being a developing nation has most of its enterprises operating at small/medium scale. Raising capital through public offerings plays a crucial role in the beginning life cycle of small scale enterprises. But because of the lesser liquidity, critical size, informational asymmetry and lack of suitable markets, these SMEs suffer an acute disadvantage. There has been an increase in the number of SME-IPOs in the past 5 years. This paper aims at studying the effect of different IPO variables such as issue size, issue price, underpricing/overpricing, percentage net issue etc on the short and long term after-returns of the SMEs. After critical analysis, it has been found that IPO variables do not contribute significantly to the short term returns for SME because of lesser liquidity in the stock markets.
Keywords: development, long term after returns, SMEs, underpricing, short term returns, IPO
Validating FMEA & TPM constructs for SMEs in India: A structural equation modelling approach.
by Sachin N. Waghmare, D. N. Raut, S. K. Mahajan, S. S. Bhamare
Abstract: SMEs in India are facing challenges due to growing competition from large domestic firms and the MNCs & increasing customers demand for quality. To sustain in the market and compete with large and global enterprises, SMEs in India need to adopt advanced approaches in their operations. Improving quality is totally essential to sustain growth. Quality of production process means consistent and viable process. From an extensive review of the literature FMEA (Failure Mode Effect Analysis) is one of the best current techniques to achieve high reliability & the goal of TPM (Total Productive Maintenance) is to improve quality. This paper investigates the effect of FMEA and TPM constructs on reliability and quality of SMEs in India. A questionnaire survey was conducted to 473 firms and hypotheses were tested using a structural equation modelling (SEM). This study has empirically tested the effect of Fault Classification on reliability and TPM pillars on quality of SMEs. This paper provides guidelines for SMEs in India to improve reliability& quality of manufacturing process.
Keywords: fmea, fault classification, reliability, tpm pillars, quality, SMEs in India, factor analysis, structural equation modelling; SEM.
Behavioural Traits Affecting Motivational Potential of Individuals: A Proposed Conceptual Framework
by Prachi Bhatt, Sanghamitra Budhhapriya
Abstract: Motivation is a mechanism through which corporate goals are achieved. Corporate leaders always want a motivated workforce. However, it is a challenge to differentiate people in terms of their motivational potential which is intrinsic to an individual. In this context, identification of behavioural traits that differentiate individuals motivational potential becomes relevant. This paper underlines the relevance of motivational potential as a construct. It attempts to identify various behavioural traits that influence the motivational potential of an individual. Based on discussions with working professionals and a detailed review of literature, it proposes a framework consisting of eleven behavioural traits affecting the motivational potential. The outcome of the research would help practicing managers in understanding the behavioural traits related to motivational potential. It would help managers in realizing the potential of their employees, which otherwise may remain unrealised. Additionally, this article discusses the practical implications and scope for future research.
Keywords: Motivation; Motivational potential; Workplace motivation; Intrinsic motivation; Individual differences; Behavioural traits
The Nexus of ICT, Electricity Consumption and Economic Growth in India: An ARDL Approach
by Sarveshwar Inani, Manas Tripathi
Abstract: This study examines both the short-run and long-run relationship among Information and Communication Technology (ICT), economic growth and electricity consumption using annual time-series data for India for the period 19912014. All the variables under study are I (1) as per Dickey-Fuller-Generalized least square unit root test results. For cointegration test and causality analysis, we have used autoregressive distributive lag (ARDL) bounds test and vector error correction model (VECM) Granger causality test respectively. ARDL test results suggest that ICT stimulates economic growth in the short-run but not in long-run, whereas electricity consumption has significant and positive impact on economic growth in long-run and short-run as well which supports the energy-led growth hypothesis. However, there is no cointegration when electricity consumption becomes dependent variable and other variables are independent. Economic growth does not granger cause electricity consumption in the short run. These findings suggest that India should focus on ICT expansion to accelerate economic growth in short-run and India should not follow energy conservation policies as it might adversely impact economic growth in both short- and long-run. Instead, India should focus on energy efficient policies. This study has crucial policy implications. Hence, proper balance and co-ordination among ICT policy, energy policy, and economic growth policy are recommended.
Keywords: Economic Growth; Energy Consumption; ICT; ARDL Bounds Test; Granger Causality; Mobile Usage
Demographic and Psychographic Antecedents of Ecologically Conscious Consumer Behavior: An Empirical Investigation
by Kavita Srivastava, Deepak Chawla
Abstract: Researchers have continued to study green consumers characteristics, habits, and lifestyle, which significantly influence their buying behavior. In the same vein, the present study aims to measure the role of consumer demographics, i.e., age, gender, education, income, and marital status and psychographic characteristics such as perceived consumer effectiveness, environmental concern, altruism and liberalism in predicting ecological conscious buying behavior.The research employed a survey-based method to test at theoretically grounded set of hypotheses. A structured questionnaire of 32 items was administered on 306 respondents to collect the data. Three statistical models were tested using regression analyses to test the hypotheses. All three models were found significant. The results witnessed that psychographic characteristics of consumers are more important to predict ecologically conscious behavior. The environmental concern is seen to be the most important variable followed by perceived consumer effectiveness and altruism. The implications of the findings and need for future research are discussed.
Keywords: Altruism, Bio-degradable, Environment concern, Energy-efficient, Green Marketing, Greendex Survey, Perceived consumer effectiveness, Liberalism
Measuring the Status and Identifying the Factors Influencing Child Immunization in Darjeeling District of West Bengal, India
by Maumita Ghosh, Shrabanti Maity
Abstract: Recently it is found that a signiﬁcant section of the nations children today are deprived of the fruits of development and been kept away from the basic amenities of life-health, education, sanitation, nutrition and so on. In this paper authors mainly concentrated to find mothers composite health index and to identify the factors influencing the immunization status of the child. This study is mainly based on the primary data collected from 200 households with 245 children from these households whose age comes under the required age group (12 months to 2 years). Yuels coefficient of association is used to find out the association of various socio economic variables with the phenomenon of child immunization. Mothers composite health index has been constructed using the multiple correspondence analysis (MCA) and various socio economic determinants of such vaccination have been analyzed through the use of Logitic regression analysis. rn
Keywords: Child Immunization, Multiple Correspondence Analysis (MCA), Mothers’ Composite Health Index, Logistic Regression.
Exploring the link between Impulsive buying tendency, self-esteem and normative influence: A structural equation Model
by Nirmalya Bandyopadhyay
Abstract: The purpose of the paper is to investigate the role of self-esteem and consumers susceptibility to interpersonal influence in influencing IBT through survey of Indian consumers. Data were collected through questionnaires administered to 250 corporate executives through an online survey. Structural equation modeling technique was used to test the hypothesized model. The empirical findings of the study revealed a negative relationship between self-esteem and impulsive buying tendency. Consumers susceptibility to interpersonal influence was found to have a positive impact on the impulsive buying tendency. Self esteem was found to be negatively related to the impulsive buying tendency. The mediation role of consumers susceptibility to interpersonal influence in the relationship between self-esteem and the impulsive buying tendency was established. The model was tested in the Indian context with corporate executives as participants.Result indicates a negative relationship between SE and IBT and a positive relationship between nCSII and IBT. The mediation intervention of nCSII in the relationship between SE and IBT is also established. Managerial implications, limitations, and directions for future research are discussed.
Keywords: Impulsive buying, impulsive buying tendency, self-esteem, Consumer's susceptibility to interpersonal influence
Causal Drivers of International Tourism Industry in Tamil Nadu: A Geweke Causality Analysis
by Khee Giap Tan, Anuja Tandon, Teleixi Xie
Abstract: This paper is an attempt to understand the causal development mechanisms of the international tourism sector in the State of Tamil Nadu in India. Being able to identify the factors that affect the growth of the international tourism sector would enable the local government to better facilitate the growth of the sector. To achieve this objective, we employ a novel empirical methodology using the Geweke causality framework to investigate the causal drivers of the tourism industry. Our empirical results suggest that safety, transport infrastructure as well as cleanliness, sanitation and healthcare conditions are causal factors that significantly affect the development of international tourism sector in Tamil Nadu. Our empirical analysis also identifies several key policy implications for not just the state of Tamil Nadu but also other states with similar conditions on how to develop a robust international tourism sector.
Keywords: Geweke Causality; Travel and Tourism; Tamil Nadu; India; Competitiveness
Workplace bullying among Indian managers: prevalence, sources and bystanders reactions
by Arpana Rai, Upasna A Agarwal
Abstract: The present study examines the prevalence of bullying, sources of bullying and bystanders reactions to bullying amongst Indian Managers. Data gathered from 205 managers using behavioral and self-labeling approaches of measuring workplace bullying suggest that like managers in the west, Indians experience high instances of bullying. In terms of direction of bullying, it was found that downward bullying predominates as most of the bullying acts were directed from superiors. The study also highlights bystanders reactions to bullying indicating that majority had preferred silence when they witnessed bullying. The findings of the study highlight a number of key avenues for future research that will help to extend the current workplace bullying literature.
Keywords: Workplace bullying, Indian managers, prevalence, sources, bystanders’ reactions
Why do Indian SMEs fail and succeed?: Insights from auto-component industry
by Dilip Nandkeolyar, Neeraj Pandey, Ravi Kiran, Shailendra Kumar
Abstract: A cursory look at data on Small and Medium Enterprises (SME) in India shows that large number of SMEs are failing. This study found fundamental reasons behind this failure besides providing insights into what makes few SMEs successfully manage competition. The data was collected from 517 auto-component manufacturing units in large automotive SME clusters of India. The research highlighted the key role of business planning in Indian SMEs. The SMEs need to proactively manage innovation and quality, improve financial agility, navigate change process and assess global impact. The study also looks at the role of benchmarking, negative attribution and buyer-supplier relationship in sustaining competitiveness by SMEs in post-WTO (World Trade Organization) era.
Keywords: Small and Medium Enterprises, Benchmarking, Marketing, Business Planning, Auto-component, Manufacturing, Clusters, India
Elementary Education in Bharat (that is India): Insights from a Postcolonial Ethnographic Study of a Gurukul
by Ankur Joshi, Rajen K Gupta
Abstract: The education delivered in Bharat grapples with the issues of quality in terms of its content, pedagogy and the outcomes. The colonization of education system subsequently led to the demise of traditional institutions (like Gurukul) of education delivery. Afterwards with the political independence, the government neither could work for the decolonization of the education nor could it make significant efforts to revive or learn from the Gurukul system. However, a significant number of Gurukuls are still running in the country. This paper takes a post-colonial stance to the education and presents an ethnographic account of one such Gurukul. The propositions are presented based on this account for improvement in the quality of elementary education.
Keywords: Culture; Gurukul; Education; Ethnography; Postcolonialism; Bharat
Daily Beta Adjustment: Evidence from the Indian Equity Market
by Shweta Bajpai, Alok Dixit
Abstract: This research paper offers a comparative evaluation of the four well-known models of beta adjustment, viz., the Scholes-Williams, Dimson, Cohen, et al., and Fowler and Rorke. For the purpose, we cover a period of 10 years (January 2004 to December 2013), and analyse the data in two sub-groups, namely, before and after the sub-prime crisis. Out of the four models studied, the best model is used for the beta adjustment. Further, we utilise the adjusted beta for testing the Capital Asset Pricing Model (CAPM) in the Indian capital market. The results of this study are expected to provide necessary evidence on important aspects of beta estimation with a daily frequency dataset and its robustness.
Keywords: Adjusted Beta, CAPM, Indian Capital Market.
Enhancing Performance through Performance Contracting The Indian Government Approach
by Shulagna Sarkar
Abstract: The Indian government has taken numerous initiatives to ensure performance culture. Performance Contracting (PC) in India is one such initiative of government. The Memorandum of Understanding (MoU) system is an age old PC process for Central Public Sector Enterprise (CPSEs) in India which underwent several modifications over the years and has ensured greater involvement of people with higher individual as well as organizational performance. Government of India has also introduced Results Framework Document (RFD) which is another form of PC applicable to ministries and departments. Though MoU system and RFD system exists distinctly different yet, they are inter-related with regards to performance of India. The paper elaborates both the concept of MoU system and RFD process and its implementation in the India as a PC initiative and elaborates Results Framework Management Systems (RFMS) - MoU system which is a new online initiative of Indian government. Secondary data is used to identify the relation between the MoU and organizational and sectoral performance.
Keywords: Performance Contracting, Memorandum of Understanding, Results Framework Document, Indian government, Central Public Sector Enterprises
Postmodern Consumption in India: A Conceptualization and Case Synthesis
by Roshni Das
Abstract: This paper argues that postmodern consumption of material goods is as much a consumption of the goods themselves as that of networked information. In the process, it seeks to explore the plausible connection between social identity formation, identity enhancement by virtue of additional information in the form of warrants, identity dissemination by way of social flow of information and Brand Tribalism culminating in the final act of Social Consumption. A social theory of postmodern consumption is proposed. We adopt the Variable based Theory Building and Case based Theory Testing method as enumerated in The Sage Handbook of Innovation in Social Research Methods (2011). An emerging economy such as India being the case testing ground adds a contextual element to the model. This study contributes to the growing body of literature on active, co-created consumption and branding and marketing strategies specifically tailored to the digital-global market.
Keywords: Consumption, Postmodern, Extended self, Digital, Culture, Co-creation
Inter-linkages between Human Development and economic growth: A Sustainable Development Analysis across Indian States
by Sheetal Mundra, Manju Singh
Abstract: The basic purpose of sustainable development is to expand human choices. The people of the nation should be equitably benefited through the process of sustainable development. The Five Year Plans have generally been the fountainheads of policy for growth and sustainable development in India. In this study an attempt has been made to explore the success of Indian experience of sustainable development through Five Year Plans by examining the difference between planned and achieved growth rates of all Five Years Plans in India and of Tenth and Eleventh Five Year Plans across the different States of India. As the Human Development Index is one of the most important indicators of sustainable development. So, the other objectives of the study to assess the impact of the growth (GSDP) on an HDI score for selective states of India and further, also try to explore the disparities among different Indian states on selective HDI indicators. The study finds that the poor performance of the human indicators across the States highlights the fact that economic benefits arising out of the process of development failed in raising the human development in India and across the states, which is the eventual objective of the economic planning of each developing country. So such process is detrimental and unsustainable in the long run of a country. Thus, the study helps in opening not only the new areas to be explored to find out the factors which are detrimental in raising the human development in these selective states, but also provide a direction for the policy makers to formulate more effective and specific policies.
Keywords: Sustainable Development; Human Development; Gross State Domestic Product (GSDP); Education; Health.
What makes Sports Leagues Successful? A study on Indian professional sports leagues
by Sanjeev Tripathi, Ankur Kapoor
Abstract: Professional sports leagues have become the dominant form of sports in most of the developed sports markets. However, sports leagues are appearing for the first time in emerging sports markets like India. This research is exploratory in nature and is aimed at identifying the factors that contribute to the success of Indian professional sports leagues. A mixed methods approach was adopted using semi-structured interviews, focused group discussions, and surveys. Data was collected from sports' experts and fans. The results show that factors that impact success of leagues can be of broadly summarized into two types: Operational factors like league-federation relationship, scheduling and infrastructure; and fan acceptability factors like celebrities, quality of players, marketing communications and match-day experience. The findings from this research have implications for developing sports industry and research in emerging sports markets.
Keywords: Sports leagues; sports marketing; fan acceptability; celebrities; match day experience.
SMALL BUSINESSES CONTRIBUTION TO RURAL ECONOMIC DEVELOPMENT IN THE GREATER GIYANI MUNICIPALITY AREA: PERCEPTIONS FROM OWNERS
by Ntwanano Mathebula
Abstract: There is an increasing acknowledgment of the prospective small businesses has on rural economic development and job creation in South Africa. Although deliberations on the discourse continue to trend about the virtual contributions of small businesses, substantiation from recent studies supports their imperative heroine as an economic engine of rural development. However, challenges in the industry such as lack of funding opportunities, crime, and management skills inhibit the emergence and thriving of small businesses. Through both the qualitative and quantitative research methodologies, this study probed the small businesses owners perceptions on the rural economic development role at the Greater Giyani Local Municipality, Limpopo Province. Data was collected through questionnaires and supplementary interviews among 70 small business operators. The study therefore revealed that although small businesses positively contribute to the socio-economic well-being, improving the local economy and job creation, support from government, business and civil society sectors is required to ensure a more immense contribution by small businesses.
Keywords: Small businesses; Rural economic development; Job creation; Poverty reduction.
Segmenting Emerging Markets based on Consumer Responses towards Social Network Advertising
by Shalini Tripathi, Masood Siddiqui
Abstract: A wealth of new digital technologies have enhanced the reach of marketers and enabled them to interact with consumers in a big way in emerging markets like India. The onset of the digital era has resulted in Social Network Advertising (SNA) becoming an integral part of the communication mix of firms. The current study attempts to offer a more subtle understanding of consumer engagement with social media by closely examining consumer responses to social network advertising and the consequences thereof. It uses psychographic and other lifestyle variables as segmentation variables. Hence it will particularly be of interest to marketers and researchers on the lookout for upcoming marketing opportunities. Also, the study investigates how advertising on social networks impacts preferences of consumers; and their acceptance and avoidance of this advertising, in terms of their belief in ads appearing on social networking sites.
Keywords: Digital marketing; emerging market opportunities; marketing communication; social network advertising; consumer responsiveness; advertising effectiveness; psychographic variables; segmentation; cluster analysis; discriminant analysis; canonical correlation analysis.
Sustainable Economic Governance: Learnings from Kautilyas Arthashastra
by Rishi Manrai, Utkarsh Goel
Abstract: Sustainable economic governance requires effectual rules and policies and their effective implementation. Arthashastra written by Kautilya more than two thousand years ago discusses various best practices on governance of markets, economics and trade to ensure happiness and well being of the subjects. Most of the wisdom of Arthashastra are still relevant and are being adopted knowingly or knowingly by present day governments. This paper discusses the teachings of Arthashastra on critical economic policy areas and their key elements and tries to relate its application with present day scenario. The paper discusses how Arthashastra lessons on public finance, trade, taxation and administration have been or can be incorporated in Indian context to achieve the ultimate objective of sustainable economic governance. The paper further combines the key teachings on economic governance and presents a model which can act as a guide for good economic governance.
Keywords: Arthashastra; Trade; Taxation; Public Finance; Sustainable; Economic Governance: Kautilya.
Relevance of ancient Indian scriptures - Business wisdom drawn from Ramayana, Gita and Thirukkural
by J.K. Sharma
Abstract: Such principles of management, which are beyond further research, are yet to be discovered. The principles discovered so far are both, the cause and effect of further research. However, the case of Indian scriptures is different. Scriptural research has been limited to their interpretation. The interpretation, with regard to the implementation in management practice, may be multi-dimensional. One of the dimensions may be to correlate this knowledge with managerial behaviour, especially in context of reported financial irregularities. The objective of this article is to demonstrate such a correlation. Hence, brief sections of three Indian scriptures have been reviewed. The methodology of hermeneutics, i.e. Identification, Investigation, Interpretation and Integration, has been utilized. The correlation between the scriptural knowledge and managerial effectiveness has been proposed in the form of a Spiritual Framework of Managerial Effectiveness. The attributes for increased effectiveness in important dimensions of managerial personality, decision-making and conduct have been proposed through the framework. Managerial implications have also been mentioned.
Keywords: Indian scriptures; spiritual values; managerial effectiveness; managerial ethics; Ramayana for management; Gita for management; Thirukkural for management; nishkam karma; spiritual framework for managerial effectiveness.
Stakeholder Initiatives for Promoting Corporate Social Responsibility: A Four Country Study
by Neha Saxena, Shamama Afreen
Abstract: Corporate Social Responsibility (CSR) has undergone many stages of evolution around the world and different models exist in different countries. The focus and priorities of CSR also vary from one country to another, being rooted in the social, economic, cultural, political and historical landscape of each region. This, combined with pressures exerted by the expectations of an increasingly aware and connected world, is shaping the way different stakeholders respond to the CSR agenda of a country. Governments, corporations, non-governmental organizations, consumers and other important entities are coming together to design and implement effective CSR policies and practices, aimed at solving social and environmental problems. This paper looks at such stakeholder responses to the CSR agenda of four countries – Brazil, Germany, India and Canada – to understand existing CSR models and how they are being promoted and implemented.
Keywords: Corporate Social Responsibility; Stakeholder; Philanthropy; Brazil; Germany; India; Canada
Quality issues affecting organisational performance: a review of Indian technical education
by Lalit Upadhayay, Prem Vrat
Abstract: Indian technical education, in the recent past, experienced an exponential growth causing degradation in the employability of engineering graduates. This affected the business performance of many private technical institutions in India which are now on the brink of extinction. Low employability of engineering graduates may render them jobless and may convert the so called India's demographic dividend into the demographic disaster. Therefore, it is imperative to analyse the quality issues affecting the performance of technical institutions in India. The objective of this paper is to analyse quality issues in the technical education and examine the application of quality improvement tools and techniques in this area. The paper presents an extensive review of literature in the area of technical education. The study identifies the enablers and barriers to quality of technical education at strategic and operational level. The paper discusses policy implications and suggests corrective measures to address quality related issues in technical education.
Keywords: quality issues in technical education; QFD in technical education; performance of technical institutions; employability.
Price discovery in Indian stock index futures market: new evidence based on intraday data
by Sarveshwar Kumar Inani
Abstract: This study revisits price discovery process in Indian stock index futures market for spot and futures of S&P CNX Nifty, by using high-frequency one-minute time-interval data for the period from January 2011 to August 2015 to gain fresh insights. Stationarity and cointegration tests reveal that spot and futures prices are I (1) and cointegrated. Three different econometric methodologies - component share method of Gonzalo and Granger (1995), information share method of Hasbrouck (1995), and modified information share of Lien and Shrestha (2009) have been employed to determine the extent of price discovery contribution by spot and futures markets. The results reveal that futures market is performing its price discovery function which satisfies the transaction cost hypothesis. Also, these results support the notion that futures market is more efficient vis-à-vis spot market in India. Price discovery is a main function of futures market and has implications for asset pricing, portfolio allocation, investment strategy formation, and market efficiency. This study might be helpful for regulators and policymakers to form market structure policies and guidelines for equity markets.
Keywords: price discovery; vector error correction model; VECM; Johansen cointegration; component share; information share; modified information share; common factor methods; futures market.
Enhancing reliability and quality for SMEs in India by using failure mode effect analysis and total productive maintenance
by Sachin N. Waghmare, D.N. Raut, S.K. Mahajan, S.S. Bhamare
Abstract: The globalisation of markets, growth of customers' expectations, widening competition puts pressure on SMEs in India. To withstand with such issues and contend with large and global enterprises, SMEs need to implement inventive approaches in their operations. This study has empirically tested the effect of critical faults for machinery manufacturing such as equipment problem, procedure problem, personnel error, and design problem, training deficiency, and management problem, external phenomena and TPM pillars such as 5S, autonomous maintenance, continuous improvement (kaizen), planned maintenance, quality maintenance, education and training, safety, health environment control on SMEs in India. A survey was carried out on a sample of 473 manufacturing SMEs operating in the manufacture of machinery and equipment, packaging, automobile, chemical, food processing and metal processing in India. The Statistical Package for Social Sciences version 16 and scilab 5.3.3 is used to analyse data obtained. The hypotheses are tested and a generic model of FMEA and TPM is proposed for SMEs in India to improve their reliability and quality.
Keywords: equipment problem; EP; procedure problem; PP; personnel error; design problem; DP; training deficiency; TD; management problem; MP; external phenomena; EXP; TPM pillars; SMEs India.
Capital asset pricing model and subprime crisis: evidence from Indian equity market
by Shweta Bajpai, Anil K. Sharma
Abstract: The sub-prime crisis of 2008 caused great instability across all the stock markets of the world. Hence, a departure in the equilibrium level of stock prices is expected. This study is an attempt to examine capital asset pricing model (CAPM) empirically in the light of crisis of 2008, in the Indian securities market. The study involves a period sub-prime crisis hence, an attempt has been made to examine the CAPM considering the recessionary period. Additionally, in order to establish robustness of the model, the CAPM has been tested on a rolling sample daily data of one year with a monthly updating scheme. This study suggests that the CAPM is not able to explain the return generating process of stocks in an efficient manner. However, the model without the intercept term cannot be ignored grossly, as it marks its significance around 16% of times.
Keywords: cross-sectional regression; capital asset pricing model; CAPM; rolling regression.
Trading trends in Indian commodity exchanges with special reference to agricultural commodities
by Anand Bansal, Satinder Kaur
Abstract: Global commodity markets have gone through a long journey. In India, the emergence and augmentation of the organised commodity derivative market is relatively a recent phenomenon. Since its inception in June 2000, derivative exchanges have exhibited exponential growth in terms of volume and value of trade. The setting up of the three exchanges was the turning point in the history of commodity market of India. Hence, the study is undertaken to analyse the trends and progress of the national commodity exchanges of India and comparing the value of the trade of the selected agricultural commodities (soybean, mustard seed, soy oil, guarseed and channa). Data for the commodities under study covers period from the year 2004-2005 till the year 2014-2015. The study is based on the secondary data related to exchanges, i.e., MCX, NCDEX, NMCE, ICEX and ACE.
Keywords: commodity exchanges; India; agricultural commodities.
Disruptive innovation through a dynamic capabilities lens: an exploration of the auto component sector in India
by Deepak Pandit, Maheshkumar P. Joshi, Rajen K. Gupta, Arun Sahay
Abstract: Innovation has gained momentum for the development; spread; and survival of auto industrial firms in India. In this paper; we study the less-explored aspect of organisational response focusing on discontinuous innovation. The Indian auto sector requires a tool for long-term market dominance; particularly owing to the rapid change in the business environment. This can be achieved through a special kind of discontinuous innovation known as disruptive innovation (DI). We further affirm how developing DI is facilitated by the firm's dynamic capability (DC); to substantiate our claims; we develop and utilise a survey instrument to test a hypothesised model with responses from various firms affiliated with the Indian auto component industry. Our findings confirm the positive roles of DC and research and development (R&D) expenditure as antecedents to DI. We further conduct exploratory analysis to study factors such as R&D and environmental turbulence as moderators of the DC-DI relationship. We offer the following contributions: the operationalisation of DC and DI for the Indian context, a sector specific study and critical results pertaining to moderating role of R&D and environmental turbulence on the positive DC-DI relationship.
Keywords: dynamic capability; disruptive innovation; automotive sector; emerging economy; Indian economic liberalisation.
Special Issue on: National Conference on Managerial Perspectives, Issues, and Challenges of Swachch Bharat Abhiyan 2014 Managerial Perspectives, Issues and Challenges of Swachch Bharat (Clean India) Campaign
E-waste management awareness and intentions among youth consumers: the mediating role of motivation
by Sanjay Dhingra, Nitika Sharma
Abstract: The paper empirically explores the role of general awareness, motivation and intentions in e-waste. It proposes an original framework to explore the influence of e-waste awareness on e-waste management intentions of consumers through the mediating role of e-waste management motivation. The data collected from young users were analyzed using mediation model proposed by Hayes (2008). The questionnaire was administered to study the identified the pertinent issues in e-waste management and the study found that e-waste general awareness of users significantly affects the e-waste management intentions through motivation of the users for their better health and environment.
Keywords: e-waste awareness; e-waste motivation; e-waste management intentions; mediation model