International Journal of Indian Culture and Business Management (51 papers in press)
The Price of Heritage: An Investigation of Hotel Prices
by Prem Dewani, Sameer Mathur
Abstract: This paper investigates the price premium charged by hotels to heritage tourists. A field study shows that heritage hotels in India command a sizable price premium over comparable, conventional hotels in India. Another field study finds that hotel rooms facing the Niagara Falls, USA, are more expensive than hotel rooms facing the city. A third study investigates the preferences of heritage tourists visiting India to see the Taj-Mahal. The study finds that heritage tourists indicate higher quality perception, purchase intentions, word-of-mouth likelihood and willingness-to-pay for a hotel room with an ethnic room decor and overlooking the Taj-Mahal compared to a hotel room with a modern decor and overlooking the city. Overall, this paper demonstrates a significant "price of heritage".
Keywords: Heritage, Pricing, Hotels, Service
Assessing Bihars Economic Growth: A Geweke Causality Analysis
by Khee Giap Tan, Tongxin Nie, Kartik Rao
Abstract: Despite being one of the most backward Indian states in terms of Gross Domestic Product (GDP) per capita, the state of Bihar recorded double-digit growth from 2005 to 2011. Although this growth turnaround has been recognized as something significant, the literature to date has not probed the causes that have driven Bihars growth story. In this context, this paper attempts to contribute to the growing interest and literature in studying the causal factors driving growth patterns in India at the sub-national level. Specifically, the paper employs a Geweke Causality Analysis to investigate the drivers of economic growth in Bihar from 2001 to 2011. By decomposing and examining the linear feedback between the State-level economic growth and the vector consisting of law and order as well as fiscal variables, this paper finds that a combination of improvements in law and order as well as aid from the central government played an important role in Bihars economic turnaround in recent years.
Keywords: Geweke Causality, Economic Growth, Bihar, India
Who Matters most in Services? Detractors, Passively Satisfied or Promoters
by Shivendra Pandey
Abstract: Understanding the differences in various types of consumers groups to the complaint resolution process in a Banking services industry was the objective of this research. The three groups compared were promoters, passively satisfied and detractors based on Reicheld (2001) framework. The multi-group comparison results indicated that all the three groups were different in their response to the complaint resolution process. The detractors emerged as the most important customer segment in complaint handling process with highest impact on recommendation of Bank to the peer group. Implications for complaint management in services industries are discussed as well as addition to the body of knowledge in consumer complaining behaviour.
Keywords: Complaining Behaviour, detractors, promoters, resolution time, satisfaction, recommendation, service rating, credit cards, Multi-group comparisons in Structural Equation Modelling
Impact of Competitiveness on Business Performance: A Case Study of Manufacturing SMEs in Northern India
by Shakun preet Kaur, Jatinder Kumar, Rakesh Kumar
Abstract: The present manufacturing environment is characterized by a number of changes which poses challenges to a typical manufacturing unit. Time demands a shift from the traditional manufacturing strategies as they do not fit to present market competition. A flexible systems strategy has to be designed for remaining competitive and delivering high performance. In this regard, the aspects of competitiveness which influences the business performance in a particular industry has to be identified. The present study is conducted on the overall framework of flexible systems management. A questionnaire based survey is conducted in small and medium enterprises (SMEs) across northern India analysing three sectors namely automotive, machine tool and light engineering (mechanical components and equipment).The impact of the competitive priorities of SMEs on business performance in northern India is presented by a structural equation model. The whole process of synthesis of Situation-Actor-Process (SAP) leading to Learnings-Action-Performance (LAP) under the flexible systems management paradigm has been depicted in the paper.
Keywords: Competitiveness; Business Performance; SMEs; Structural Equation Modelling; Flexible systems management; SAP-LAP (Situation-Actor-Process Learnings-Action-Performance);Indian manufacturing industry
Influence of socialisation agents on the materialism of Indian teenagers
by Sartaj Chaudhary, A.K. Dey
Abstract: Teenagers are rapidly becoming an important market segment for consumer products in India, but relatively little is known about the development of their materialistic consumption values. This study captures the influence of socialisation on materialism for teenagers. First, by dimension reduction the latent constructs of materialism have been unveiled. Next, by applying a social learning perspective, the influence of socialisation agents on materialism is probed. In addition, this study also checks if materialistic tendencies differ among boys and girls. The research paper draws upon a survey based data collected from 1216 teenagers studying in classes eight to twelve in National Capital Region of India and uses exploratory and confirmatory factor analyses; T-test and stepwise multiple regressions for data analyses. The results reveal that materialism is portrayed by three values: luxury orientation, happiness seeking and acquisition centrality seeking. Among the six socialisation agents: mother, father, peers, celebrity, athlete and Internet, celebrity emerged as the highest predictor of materialism. Boys depicted a higher level of materialism as compared to girls. The theoretical and practical implications of the research have been discussed with suggestions for future research.
Keywords: Indian teenagers, materialism, socialisation agents, confirmatory factor analysis, multiple regression
Evaluating the efficiency of Indian public sector banks
by Ashish Kumar, Sanjay Dhingra
Abstract: The present paper examines the efficiency of public sector banks in India. The public sector banks have been deliberately chosen for the study, given the fact that even in the third decade of liberalization, the dominance of public sector banks is still obvious in terms of market share, impact on economy, number of branches, general perception of the people and overall contribution to the financial system. At present there are 26 public sector banks in India including 6 State Bank of India and its associate banks. In this paper the efficiency of the public sector banks has been examined with the help of data envelopment analysis using CCR and BCC models. The study makes use of intermediation approach of output. The study is based on 3 inputs namely; Number of Branches, Deposits and Operating Expenses and 2 outputs viz. Loans & Advances and Non-Interest Income. The results of the study indicate that in all, only 2 banks are relatively efficient on the basis of CCR model i.e. overall technical efficiency and as per BCC model (pure technical efficiency) 9 banks are efficient. Further, it has been found that the reason for inefficiency of the public sector banks in India for the year 2012-13 is due to scale inefficiency.
Keywords: banks; efficiency; data envelopment analysis, technical efficiency, pure technical efficiency; scale efficiency; CCR model; BCC model
Elements of task definition shopping situations: A study of Indian customers in context of products high on haptic salience
by Abhishek , Piyush K. Sinha
Abstract: Marketing literature has identified task definitions as one of the important situational influences. However, existing definitions of planned and emergency shopping situations are driven from practitioners perspective and suffer from operationalization issues. In this study, we make an attempt to understand and define the concept of task definition from customers perspective. Based on the thematic analysis of data collected through qualitative interviews, we identify the elements of task definitions which customers consider salient in distinguishing between different task definitions. We conclude, based on the additional analysis of comparison of these elements across different product categories, that it is also important to consider the finer point in elements across two product categories for same type of shopping trip.
Keywords: task definition, haptic touch, regular purchase, emergency purchase, fill-in trip, major trip
Personality composition in Indian software teams and its relationship to social cohesion and task cohesion
by Sapnaa Aeron, Suman Pathak
Abstract: The study investigates the effect of teams big five personality composition (mean, variance, minimum, and maximum) on social and task cohesion. The authors illustrate an empirical study on information technology professionals that elaborates on preceding research and observed significantly divergent findings. Contrary to past studies, significant relation was found between conscientiousness and social cohesion and openness to experience and social and task cohesion. Further, no relationship was found between agreeableness and task cohesion. Results partly confer the relationship between extraversion and social cohesion; neuroticism and social and task cohesion. Implications of these findings and future research needs are discussed.
Keywords: big five, cohesion, five-factor model, IT, personality, software development, team
Moderating role of locus of control in the relationship between job satisfaction and organizational citizenship behavior: a study of Indian IT sector
by Bindu Chhabra, R.P. Mohanty
Abstract: The present study was conducted to explore the direct relationship of job satisfaction and locus of control (LOC) on four dimensions of organizational citizenship behavior (OCB) i.e. interpersonal helping, individual initiative, personal industry and loyal boosterism. The purpose of the study was also to see if locus of control moderates the relationship between job satisfaction and the above mentioned dimensions of OCB. The study was conducted using structured questionnaires for measuring the above mentioned variables. The sample consisted of 449 IT professionals working in Delhi and National Capital Region. Hierarchical multiple regression analysis was used to analyze the data. The analysis showed that job satisfaction and internal locus of control was positively related to all dimensions of OCB. However, the moderating role of LOC was seen in the relationship of job satisfaction and only two dimensions of OCB namely individual initiative and personal industry. The present study has important implications for human resource development in IT sector in India. Managers should use strategies to achieve high job satisfaction and OCB. They must be aware of the moderating role of different personality attributes on the relationship between job satisfaction and OCB.
Keywords: Organizational Citizenship Behavior, Job Satisfaction, Locus of Control, IT professionals, Hierarchical multiple regression, Human resource development
Performance of Local Area Banks in India: An Empirical Study (2003-2012)
by Padmasai Arora, Hitesh Arora
Abstract: Conceived as an alternative source of innovation and credit to marginal and small agricultural farmers and retail business in remote rural areas through integrating local markets, the viability of Local Area Banks (LABs) in Indian banking sector has been a matter of debate ever since their inception in late nineties. This paper undertakes the first ever comprehensive assessment of the performance of LABs tracking their origin, role and performance during the ten-year period from 2003-04 to 2012-13. Important financial performance indicators of LABs are observed vis-
Keywords: commercial banks; local area banks; India; performance; regional rural banks; financial ratios; DEA
Employee Engagement in the Pharmaceuticals Sector in Bangladesh: A Case Study of a Pharmaceuticals Company
by Brychan Thomas, Anthony Lewis, Md Al-Amin
Abstract: It is a strategic imperative that organisations continuously improve the levels of performance in order to achieve a sustainable competitive advantage. Research has shown that employee engagement positively correlates with organisational performance in relation to profitability, sustainability, turnover rate, absenteeism rate and staff advocacy. Therefore, this research aims to investigate the effect of employee engagement on organisational performance in the context of a Pharmaceuticals company.
The major results from this research have been compared with the grounded theory to draw an effective conclusion. In addition, the authors have employed a realism philosophy with an inductive research approach to investigate the empirical reality. This is a qualitative research method, whereby primary data was collected via questionnaires and interviews. However, the questionnaire was administered by the respondents and the interviews were conducted on Skype due to the degree of distance between respondents and researchers. The sample size of this research is 35 and comprises of 32 non-managers and 3 managers.
The research concluded that employee engagement positively influenced the performance of the case organisation. However, the overall levels of engagement in the case organisation are still considered to be lower than optimal. A number of key drivers of employee engagement have been carefully investigated to examine the viability of them in relation to the case organisation. After careful scrutiny, this research recommends specific employee engagement drivers which are feasible for the case organisation.
Keywords: employee; engagement; pharmaceuticals; case study
Exploring Service Quality: A critical Review of Literature
by Nirmalya Bandyopadhyay
Abstract: With the phenomenal growth of the service sector in the last few decades, research related to the creation and delivery of services has been intensified. Four well documented characteristics of services intangibility, inseparability, variability and perishability pose challenges to the marketers to develop appropriate strategies to meet a consumers service need profitably. The researchers were keen in developing models to identify the attributes and understand quality dimensions of services across varied service settings and their applicability in the service industry to facilitate the service marketers in their efforts of service excellence development. This paper discusses a review of literature on service quality and presents key managerial insights to enable service marketer to formulate strategies appropriate to enhance the quality of their offerings to satisfy service customers and achieve their objectives.
Keywords: Customer expectation, Perceived quality, Satisfaction, Service quality dimensions.
Modelling situational factors in variety seeking behaviour: A conceptual approach
by Rajesh Nanarpuzha, Abhishek
Abstract: The importance of situational factors in variety seeking behaviour of consumers has been acknowledged in marketing literature. However, this paper is potentially the first to attempt to explicitly model situational factors in variety seeking behaviour. The conceptual model developed demonstrates that the incorporation of situational variables can result in a more comprehensive model to explain variety seeking behavior. The paper also introduces the Indian retail scenario as a particularly apt context for operationalising the variables of the proposed model. This has implications for several emerging markets where similar retail contexts are present.
Keywords: Variety seeking, situational factors, choice modelling, Indian kirana store, lightning bolt model, retail
Role of culture in celebrity endorsement: Brand endorsement by celebrities in Indian context
by Abhishek Abhishek, Arvind Sahay
Abstract: Celebrity endorsement is a big market in India and continues to grow bigger. However, inspite of prevalent use of celebrities for endorsement, not all celebrity endorsements have been successful. The list of unsuccessful examples suggest that it will be wrong to consider celebrity endorsement as an effective response to media clutter in all situations inspite of the intensity of involvement people have with celebrities in India. In absence of existing celebrity endorsement theories to satisfactorily explain the phenomenon in India, this paper uses the lens of culture to develop propositions on how customer attitude towards celebrity endorsements is a function of cultural parameters in emerging countries like India. We build our argument by using culture to explain the congruence between celebrity and consumers for elaborating celebrity endorsement in Indian markets.
Keywords: celebrity endorsement, culture, congruence, power-distance, individualism-collectivism, long-term versus short-term orientation
Community Based Agri-Chain Network: Sustainable Alternate Pathway towards Development in India
by Rohit Joshi, Sanjeeb Kakoty, Rohit Dwivedi
Abstract: The Public Distribution System (PDS) in India is a reform initiated way back. This scheme was started with the stated objective of provide food grain, ensuring the welfare of poor and maintaining price stability for the essential commodities for all citizens. However, because of number of factors such as, insufficient management, lack of proper targeting, etc., the functions of PDS never matched with its intended objective. Through the case study methodology a thorough analysis is done in Assam, a State of India, on various issues linked with supply chain of agricultural commodities, from farmer side production to customer side consumption, including subsidy, cost, price fluctuation, transportation, storage, agriculture trade, etc. The paper tried to seek an alternative pathway towards the mandate of Assam PDS by a sustainable architecture which would base itself on the strengths of the community but organizing and supported by a redesigned professional structure.
Keywords: Social Democracy, Farmers, Poverty, Public Distribution System, Community Based Agri-Chain Network, India
Government Intervention and Corporate Social Responsibility in India
by Upali Arijita Biswas, Suresh Garg, Archana Singh
Abstract: The change in the nature of relationship between the Indian government and business has been accompanied by a transition in the governments policies for CSR and heralds the rise of the relational state, which embodies co-responsibility between the state, society and public and private sectors. Using an analytical framework, the paper analyses the strategies adopted by the Indian government in recent years in order to promote the adoption of CSR in business initiatives. A questionnaire survey of 191 CSR personnel, further examines the role of the government in the CSR scenario. Employing principle component analysis to the questionnaire responses, revealed that CSR personnel deem the involvement of the government in promulgating CSR through both hard and soft approaches like Facilitation, Participation, Awareness Generation, CSR Regulation, Peripheral Legislation and Penalising. The paper will be of interest to CSR stakeholders and in particular to governments contemplating a more active role in encouraging organisations, in their countries, to undertake CSR activities.
Keywords: Corporate social responsibility, CSR, government, India, relational state, CSR regulations
Performance Related Pay Perception in Indian Central Public Sector Enterprises
by Punam Singh, Ramkumar Mishra
Abstract: Linking pay with performance is commonly referred as Performance Related Pay (PRP). It is one of the most preferred pay technique followed worldwide in all sectors for attracting, motivating and retaining talent. Central Public Sector Enterprises (CPSEs) in India have recognized the need for building a performance oriented culture in order to survive and sustain competition. A concrete step in this direction was to integrate performance and compensation management system through the implementation of Performance Related Pay concept. The implementation of PRP is expected to help CPSEs to attract, motivate and retain talent by bringing CPSEs compensation at par with its competitors in private sector. PRP has been made an integral part of CPSEs pay package through the implementation of latest pay revision for the Indian CPSEs. In the given context, it is important to study executives perception towards PRP and also to understand the real challenges in the implementation of PRP process.
Keywords: Performance Related Pay, Performance Management System, Central Public Sector Enterprises, India, and Perception.
Assessment of In-depth Content Coverage by Indian Universities Websites: End Users Expectations versus Perceptions
by Bhim Sain Singla, Himanshu Aggarwal
Abstract: The websites created by the Indian universities mainly serve the purpose of advancing their mission and brand name by providing trouble-free online services and valuable academic information to their target users. However, it always remains a challenge to cater to the needs of its varied target users, i.e., faculty, students, parents, alumni, donors, trustees, etc. The current study aims to explore which of the contents influence users perceptions most in the context of Indian universities websites by way of Importance-Performance Analysis (IPA) as the theoretical foundation. The field survey points out that every content item has its own importance in the viewpoint of end users. The main findings of this study underline the gaps between the experiences and expectations of end users towards the scope of information covered by Indian universities websites, and suggest appropriate measures to plug these gaps. Therefore, the results of this study serve as guidelines for evaluating content coverage in a typical university website and understanding the extent to which the website could meet the expectations of its intended users. Besides, it will provide the Web designers much needed information that can be used to construct or improve the websites of other Universities.
Keywords: content categories; content items; expectations versus perceptions; effective website; focus group; India; importance performance analysis; IPA; universities’ websites.
Can moral development lead to upward influence behavior? The mediating role of transformational leadership in an empirical inquiry
by Koustab Ghosh
Abstract: This empirical study examined the impact of transformational leadership with its antecedent of moral development on upward influence behaviour taking managerial responses from two power sector organizations located in India.A total of 210 valid responses from two power sector organizations represented by junior, middle, and senior level executives were found valid for data analysis. Descriptive, correlations, post-hoc and confirmatory factor analyses were applied to empirically examine the hypothesized framework. The structural equation modeling analysis showed that moral development (moral sensitivity, moral motivation, and moral implementation) were positively related to transformational leadership, whereas transformational leadership was positively related to positive upward influence behaviours, and negatively related to negative upward influence behaviours. The analysis of post-hoc showed the moderating effect of transformational leadership on positive upward influence behaviours through moral development of individual managers.
Keywords: Moral development; transformational leadership; upward influence behavior; India
Quality Issues Affecting Organizational 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 Indias Demographic Dividend into the Demographic Disaster. Therefore, it is imperative to analyze the quality issues affecting the performance of technical institutions in India. The aim of this paper is to analyze 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 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 2014 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-
Keywords: Price Discovery; Vector Error Correction Model; 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: 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 empirical 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 & 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 & 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: Keywords- Equipment Problem, Procedure Problem, Personnel Error, Design Problem, Training Deficiency, Management Problem, External Phenomena, Tpm Pillars, SMEs India.
Capital Asset Pricing Model & Sub-prime crisis: Evidence from Indian Equity Market
by SHWETA BAJPAI, Anil Sharma
Abstract: The sub-prime crisis of 2008 affected a vast majority of economies across the globe. The impact of the crisis on economies varied depending on their degree of integration with countries most affected by the crisis.. Naturally, the crisis caused considerable instability across stock markets as well. It is expected that well-known equilibrium relationships on asset prices would demonstrate a severe departure from their equilibrium levels. This study is an attempt to examine Capital asset pricing model (CAPM) empirically in its standard form with the help of two-stage regression method in the light of the crisis of 2008. The study uses select CNX 500 stocks for ten years, from Jan. 01, 2004 to Dec. 31, 2013. Since this period includes sub-prime crisis recessionary period of 2008, an attempt has been made to examine the CAPM for the whole period as well as before and after the recessionary period. Additionally, to establish the robustness of the model, the CAPM has been tested on a rolling sample daily data of one year with a monthly updating scheme. That is, the CAPM has been examined on a total number of 109 rolling samples of one year each. While testing the CAPM, the rolling regression technique is applied to individual assets as well as on portfolios thereof. 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. Out of 109 Rolling samples, 17 samples of the constrained model had standard errors less than the same number of samples of the unconstrained model
Keywords: CAPM; Rolling Regression; Cross Sectional Regression.
Trading Trends in Indian Commodity Exchanges with special reference to Agricultural Commodities
by Anand Bansal, Satinder Kaur
Abstract: Globally commodity markets have gone through a long journey. In India, the emergence and augmentation of the organized 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 analyze the trends and progress of the national commodity exchanges of India and comparing value of trade of the selected agricultural commodities (soybean, mustard seed, soy oil, guarseed and channa). Data for the commodities un
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 organizational 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 firms dynamic capability (DC), to substantiate our claims, we develop and utilize a survey instrument to test a hypothesized 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: (a) the operationalization of DC and DI for the Indian context, (b) a sector specific study, and (c) 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 Liberalizationrn
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
Social commerce as a business tool in Saudi Arabia's SMEs
by Salma S. Abed, Yogesh K. Dwivedi, Michael D. Williams
Abstract: Social media adoption plays a significant role in economic development. Yet, many small- and medium-sized enterprises (SMEs) do not believe that they could expand their market and reach customers on social media sites, especially in developing countries such as Saudi Arabia. Therefore, this study conducted a content analysis method to determine the elements of social media that SMEs are using to connect with consumers and its impact on consumers' usage. The study has analysed 60 SMEs divided into four main categories including online information provided and shared by SMEs; online business strategies used by SMEs; technology and social media tools and platforms used by SMEs; and consumers social media tools and platforms usage to connect with SMEs. Finally, the analysis indicated that businesses are building online trust using social media; online business strategies influence consumers' perceptions of the uncertainty; innovative businesses lead to innovative consumers; and quality of online information affects consumers' adoption.
Keywords: social commerce; social media; small- and medium-sized enterprise; SMEs, content analysis; Saudi Arabia.
Exploring service quality of the department stores: a study from India
by Nirmalya Bandyopadhyay
Abstract: The purpose of this study is to empirically explore retail service quality of the department stores in the Indian context. A measure is developed by modifying the RSQS scale as available in the literature to measure retail service quality. Data were collected from four competing department stores so as to assess retail service quality. Statistical analysis revealed a three-factor construct structure. The validity and reliability of the measure are assessed empirically. The study has managerial implications in strategic decision-making.
Keywords: service quality; satisfaction; retail format; department store; model; India.
A study of non-verbal immediacy behaviour from the perspective of Indian cultural context, gender and experience
by Reeta Raina, Asif Zameer
Abstract: The present study explores the influence of culture, gender and experience on the non-verbal communication behaviour in an Indian context. The results indicate that Indians often use more multimodal style of communication - primarily non-verbal methods to relay information in conversations using eye movement, spacing, facial expressions, tone of voice, and other non-verbal cues. Generally, they are seen as high on non-verbal immediacy behaviour, but, at times, they do reveal, some kind of withdrawal symptoms like leaning away from the person or their bodies become tense - they would avoid gesturing and not look directly at the person. The Indian women, when compared with men in India, tend to be more emotive, they smile considerably more, maintain eye contact more and gesture more where as men use more expansive gestures. The study did not show major difference in the non-verbal behaviour of people with experience and non-experience background.
Keywords: non-verbal communication; high-context culture; proxemics; gender; eye contact; high power distancing; India.
Exploring gender difference in organic clothing purchase intention and ecological behaviour
by Geetika Varshneya, Gopal Das
Abstract: The present work aims to study the relationship of values with purchase intention for organic clothing and ecological behaviour. It will also explore the relationship of ecological behaviour and positive word-of-mouth. Further, it will figure out the moderating role of gender in all these relationships. Six hypotheses were developed with the support of relevant literature. The hypothesis were tested with the help of primary data (n = 202), collected through a structured questionnaire online from Indian consumers of age group 18 years and above. Regression analysis was done to test the hypotheses. The results indicate that value and purchase intention for organic clothing has a positive relationship. Also, values and ecological behaviour has a positive and significant relationship. Similar is the relationship between ecological behaviour and positive word-of-mouth. Gender acts as a moderator in all the earlier mentioned relationships. The results of the current study are focused organic clothing and needs validation in other contexts. It is limited to Indian consumers of age group 18 years and above.
Keywords: organic clothing; purchase intention; values; ecological behaviour.
Understanding expenditure on different commodity groups in Indian households: emerging patterns and policy implications
by Bipul Kumar, Piyush Kumar Sinha
Abstract: This study explores the expenditure pattern on different commodity groups such as food, fuel and lighting, clothing and other items across Indian households. The study also explores the variables apart from income which affect the expenditure on commodity groups across rural and urban population in India. Estimates made for expenditure elasticity taking into account the regional differences in India across rural and urban settings provide some important implications for the marketers on issues like income-based segmentation as well as consumption pattern on commodities. This study also has policy implications with insights on social welfare programs depending upon the nature of expenditure elasticity for a particular commodity group linked with income of the household. The nature and magnitude of the elasticity also provides a policy tool for devising the tax structure based on expenditure towards necessity or luxury goods with respect to the income level of the household.
Keywords: segmentation; commodity; income; elasticity; expenditure; necessity goods; luxury goods.
E-governance in developing countries: a case study of E-Disha initiative in the Indian state of Haryana
by Tejinder Sharma, George Mangalaraj, Vivek S. Natarajan
Abstract: Technological interfaces are increasingly being used, throughout the world, to reach out to larger sections for the delivery of e-governance services. Inadequacy of digitisation of records of the subsistence level citizens, lack of awareness of their rights, and little understanding of the processes to avail the governance services hamper the effectiveness and of delivery of the e-governance services to them. The study explores the adoption of E-Disha services by the subsistence level citizens, offered by the north-Indian state of Haryana. Findings indicate that the subsistence level citizens easily learn the use of technology-assisted interfaces and the E-Disha services measure up to the citizens' expectation on the dimensions of spatial convenience ease of use, cost, and trust. By adopting a marketing and customer service paradigm, considering governance as a service and leveraging technology as a facilitator, the subsistence marketplaces could be better served and foster their inclusiveness into the social mainstream.
Keywords: e-governance; E-Disha; technology adoption; customer service; developing countries; India; Haryana; case study.
Factors affecting adoption of green products among youths: a conceptual framework based on evidence from India
by Bipul Kumar
Abstract: Green products have major contribution in changing the mind-set of consumers towards environmental protection, responsible consumption and overall value creation in an ethical manner. Despite efforts from marketers, the adoption of the green products has not been in line with the expectations. Although developed economies have experimented and learned many important cues with respect to the adoption of green products, the emerging economies are still in the transition phase. Using qualitative method, this study explores different psychographic and cultural factors interplaying in the decision-making process for adoption of green products in India. Based on value-belief-norm (VBN) theory, the study then develops a conceptual framework which includes some pertinent factors including a potential moderating factor affecting the adoption of green products. The study provides some important insights for the practitioners and the policy makers.
Keywords: green products; collectivistic culture; environmental reciprocity; self-efficacy; risk proneness; value-belief-norm theory; youth; emerging economy.
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