bluuebunny/crossref_metadata_2025 huggingface dataset:
Testing Stock Market Efficiency Using Risk-Return Parity Rule
Authors: Srinivasan N P , Narasimhan M S
Published: September 2016

Although the concepts of efficiency have been extensively researched, an efficient stock market has remained elusive. The subject is of particular concern in India now because of the increasing dependence on the capital market for financing industrial growth.

S K Barua and V Raghunathan presented two articles in Vikalpa (July-September 1986 and July-September 1987) arguing that the Indian capital market was inefficient. Using Reliance share prices, they tried to demonstrate that schemes yielding returns unrelated to risk existed.

Srinivasan and Narasimhan in this article question the methodology used by Barua and Raghunathan and elaborate on the concepts of risk-return parity and efficiency, drawing a distinction between information efficiency and market efficiency.
Guna Dynamics can Enrich Transactional Analysis
Authors: Chakraborty S K
Published: September 2016

A good theory of social interaction is fundamental to individual, organizational and societal well-being and progress.

Transactional Analysis, the psychology of human relationships, is such a theory that is immensely popular in management literature. Guna Dynamics is an Indian psycho-philosophical theory of human conduct and behaviour that has retained its logical appeal over thousands of years. Yet, rigorous study and application of Guna theory to management is grossly neglected.

S K Chakraborty compares the two theories and sketches the similarities and differences between them. He finds that Guna theory is more comprehensive in its scope than Transactional Analysis, and is, therefore, able to explain better, both the industry's impact on environment, and the aggravated negative tendencies in our society. He proposes a synthesis of the two theories for more effective handling of human-relationships.
Diamond Star Company, Bombay
Authors: Raghunath S
Published: September 2016

Despite the multinational operations of Diamond Star Company, Bombay, Manilal Shah, the owner-manager, is wondering whether he should recruit professionals for his organization. He interviews Amit Singh, a management graduate and debates whether he is worth his price in terms of his commitment and the benefits he would bring for his company.

The case raises interesting questions such as: Should Shah recruit professionals? What does professionalization mean? How can Shah ensure the commitment of professionals to his organization? What can a professional expect from his job in Diamond Star Company?
The Bajaj Lockout
Authors: Kher Manik
Published: September 2016

The Government of India is committed to bring about a balanced regional development. In pursuit of this important objective, the government has been granting new industrial licences only if the new projects are located in the "no industry" districts of backward regions.

While the objectives and strategy of development of backward regions are unexceptional, the implementation of this strategy poses many problems. A modern plant located in an underdeveloped part of the country faces many operational problems. It is not easy for managements to train personnel there to operate and maintain modern machines based on the latest technology. There is a great reluctance on the part of qualified managers and workers to accept positions in such locations given their non-existent infrastructure. The only economic advantage of locating plants in backward regions is the reduction in labour cost and the hefty subsidies received from the central and state governments.

For successfully implementing the strategy of developing backward regions, it is imperative that both the central and the state governments assist the managements in developing the necessary infrastructure and maintaining cordial relations with their employees. The Waluj plant case highlights these problems and triggers thinking on the action that needs to be taken. Vikalpa is thankful to Manik Kher of The Times Research Foundation, Pune, for the case.
Impact of Trade Unions on Productivity: A Study of the Indian Chemical Industry
Authors: Ramjas
Published: September 2016

In this article, Ramjas analyses the extent to which trade unions affect productivity in the Indian context. Based on an analysis of data (1960-1980) from the Indian chemical industry, the author finds that trade unionism brings down productivity. He suggests that the potential of trade unions to increase productivity has not been fully exploited owing to factors such as managerial response to unionism, working conditions, wages of workers, and the socio-political climate in the country.
Industrial Sickness in India: Weed for Comprehensive Identification Criteria
Authors: Dholakia Bakul H
Published: September 2016

Prevention is better than cure—this adage is particularly significant in the context of growing industrial sickness in the country. Fundamental to the criteria used by financial institutions and government agencies to identify sickness is the recurrence of cash loss. Dholakia argues that use of various criteria based on the cash loss syndrome delays identification of sickness and results in a high proportion of terminally sick units.

According to Dholakia, what is needed is a comprehensive set of empirically tested criteria which would serve as an early warning system. Abnormal fluctuations in a firm's relative position within the industry to which it belongs should be explicitly used to determine sickness at the incipient stage. This is likely to help prevent industrial sickness. However, this would require restructuring of existing systems and procedures adopted by the financial institutions.
Dimensions of Executive Charisma
Authors: Kanungo R N , Conger Jay A
Published: September 2016

Charisma is a Greek word meaning gift. It is presumed to be characterized by some mystical qualities of leadership divinely bestowed upon rare persons. Recently, Kanungo and Conger have attempted to “strip the aura of mysticism” from charisma by proposing a model that deals with charismatic leadership within organizations strictly as a behavioural process.

In this article, Kanungo and Conger suggest that the charismatic role of executives, like any other type of executive role, is a quality attributed to the executive by organization members based on their perceptions of his/her behaviour. Conceptualizing charismatic behaviour in three distinct stages, the authors identify various behavioural components that distinguish between charismatic and noncharismatic executives.
Strategic Implications of the Organizational Buying Process for Computer Marketers in India: An Exploratory Study
Authors: Murthy Gautam
Published: September 2016

The computer industry in India has registered a spectacular growth after the enunciation of government policy on computers in 1984. Computer sales have soared; there has also been a proliferation of computer marketers.

In this article, Murthy looks into the process of buying computers in organizations. A survey of four organizations (three in the private sector and one in the public sector) reveals that computer professionals have a high degree of involvement, though the final buying decision is taken by top management. The survey also reveals that it would be relevant for computer marketers to segment the market on the basis of type of industry and geographical locations.

Finally, the author spells out the salient strategic aspects the marketer needs to be concerned with at each progressive stage of the organizational buying process involving computers.
Public Enterprise Management: Strategies for Success
Authors: Kaul Mohan
Published: September 2016

What constitutes successful management of public enterprises? Executives of successful enterprises from 14 commonwealth countries exchanged their experiences and outlined strategies at two roundtable meetings under the auspices of the Commonwealth Secretariat, London. This paper is a summary of the views of the executives presented at the two meetings.

In recent years, public enterprises in developed and developing countries have been criticized for not fulfilling the expectations placed on them. The case studies and the discussions at the two meetings, however, reveal that many public enterprises have been managed, successfully. The strategies outlined by the executives relate to managing the external environment, the enterprise-government interface, internal management, building enterprise culture, managing human resources, and the role of leadership.
Rehabilitation and Resettlement of Displaced Persons
Authors: Hathi Ashwin
Published: September 2016

Large projects undertaken by governments as part of development programmes displace a large number of people from their normal habitat. Rehabilitation and resettlement of displaced persons in new sites has, therefore, become an important matter for governments.

In this article, Hathi describes the objectives and processes of rehabilitation and resettlement programmes which have social, economic, and cultural ramifications. After reviewing the rehabilitation packages of several large projects in India, Hathi states that best results in rehabilitation can be attained when monitoring of the implementation of the package is incorporated in the project document itself.
Value-Based Management
Authors: Karnad Amol
Published: September 2016

Much has been written about values and ethics in management. Much of what has been written, however, is either in the ethereal realm of the metaphysical or in the netherworld of the cynical. The debate swings between cliches about “What ought to be done” on the one hand and selfdefeating pronouncements that ”Nothing can be done” on the other. For entrepreneurs and managers, the critical question appears to revolve around the economic viability of value-based business and management.

Most people spend their lives dreaming of doing, some others talk of doing but it is given only to a few to do, to dare, to demonstrate that it can be done. Amol Karnad belongs to the last category. His account of how his company has been adhering unflinchingly to the tenets of value-based management without in any way losing out on the business front is a moving account of how values can be integrated with the management of organizations.
Bharat Electronics Limited (BEL) — HRD & IR Interventions
Authors: Monappa A
Published: September 2016

What is the role of the Chief Executive in effecting change of work, culture and practices?

The case presented here describes a series of strategic initiatives taken by Captain Prabhala, the Chief Executive, to improve human resources management in BEL — a public sector electronics unit. Initially, he had one question in his mind : Where should he begin? After initiating certain positive interventions, however, his concern was : How do I sustain what I have started?
Target Analysis: Cost, Quality or Both?
Authors: Balachandran K R , Srinidhi Bin
Published: September 2016

In the increasingly competitive environment of the nineties, considerable attention has been paid to cost and quality issues. Though, traditionally, improvement in quality meant increased costs and was associated with reduced productivity, more recent research treats them as complementary characteristics.

In this article, K R Balachandran and Bin Srinidhi argue that the target analysis approach which combines cost and quality issues in a complementary manner can help achieve the strategic objectives of the firm. Data from NMMC, a subsidiary of Nissan Motor Corporation located in the US, have been used to describe the process of implementation of this approach.
Allocation of Buses to Depots : A Case Study
Authors: Sridharan R
Published: September 2016

Minimizing dead kilometres is an important operational objective of an urban road transport undertaking as dead kilometres mean additional losses. This can be achieved by formulating the underlying decision problem of allocating the buses to depots as a transportation problem.

Using data from an urban road transport undertaking, R Sridharan shows how such a modelling can lead to significant reduction in dead kilometres. Given the need for fuel conservation under the current circumstances in our country, this will mean considerable saving in petrol consumption.
The New Economic Package and the Agenda for Restructuring the Financial Sector
Authors: Raghunathan V , Varma Jayanth R , Venkiteswaran N
Published: September 2016

Jettisoning antiquated controls is the easier half of the process of market liberalization. The process of creating new regulatory mechanisms and institutions to deal with the resulting new structure of the financial sector is more difficult. In the light of the Finance Minister's proposal to set up a high power committee to review the financial system in its entirety, this article attempts to set in motion an intensive academic debate on the entire subject.

The authors discuss the impact of the recent economic policy package on various facets of the financial system and argue that the agenda for the proposed committee should include the integration of various financial markets, new instruments required for hedging risk, measures for investor protection, appropriate legislation, relevant tax reforms, development of financial infrastructure and the roles of regulatory agencies.
Critical Elements in the Design of Poverty Alleviation Programmes
Authors: Bhatt Anil
Published: September 2016

In general, poverty alleviation programmes (PAPs) have been ineffective because of various factors : the selection of the activity is faulty or the intended beneficiaries are not clearly defined or the procedures for identifying beneficiaries leave much to be desired. An important need, therefore, is to identify certain critical elements which will help in improving the design of PAPs.

Based on the experiences of some governmental and voluntary efforts in the Asian region, Anil Bhatt discusses the more critical components and concludes that poverty alleviation is a tough and difficult proposition and calls for imaginative and unorthodox political and administrative changes.
Executive Health: An Oft-Neglected Aspect of HRD
Authors: Pestonjee D M , Muncherji Nina
Published: September 2016

Today's executive is constantly subjected to mental tensions, anxiety, depression and frustration. In other words, stress is an essen tial accompaniment of executive performance. Increasingly, it is being realized that concern for executive health is vital for organizational well-being.

In this article, D M Pestonjee and Nina Muncherji describe various types of diseases executives are prone to and suggest how HRD interventions can help in promoting the overall health of the executive.
India's Economic Crisis: Nature and Remedies
Authors: Dholakia Bakul H
Published: September 2016

Currently, the Indian economy is passing through a severe crisis which is due to an accumulation of the combined effect of various forces operating in the domestic as well as the global economy.

In this article, Bakul H Dholakia analyses the major elements of the present economic crisis such as foreign exchange crunch, fiscal imbalances and high rate of inflation and suggests various long-term measures for bringing the economy on even keel.
Towards a Strategy for Software Exports: The Case for Strategic Alliances
Authors: Korwai Ashok
Published: September 2016

This article by Ashok Korwar continues the discussion of strategic issues in software exports (which was started in the July- September issue of Vikalpa) by analysing the structure of the global computer software industry in terms of major forces in each major segment of the market.

Based on the analysis of the strengths and weaknesses of the Indian software industry, the paper makes a case for Indian companies to enter into strategic alliances with major players in one important segment of the market — the Systems Management segment.
Short-run Share Price Behaviour: New Evidence on Weak Form of Market Efficiency
Authors: Chaudhuri S.K.
Published: September 2016

Using daily price quotations of 93 actively traded shares for the period January 1988 to April 1990, S. K. Chaudhuri makes an attempt to examine the serial independence of share price changes. In particular, he applies the serial correlation test and the runs test to daily log price changes.

The test results, according to him, do not appear to support the hypothesis of weak form of market efficiency.
How Do Stock Prices React to Bonus Issues?
Authors: Obaidullah M
Published: September 2016

In an efficient market, the adjustment in stock prices to the announcement of bonus issues by companies is instantaneous.

How do the Indian stock markets adjust to such an announcement? This article by Obaidullah focuses on this issue.
Logistics Management: An Introductory Note
Authors: Raghuram G
Published: September 2016

Logistics is a logical extension of viewing transportation along with production planning, distribution network design, location of plants and warehouses, inventory management and so on to achieve an efficient goods distribution system.

This article by G Raghuram, which identifies key actors involved in logistics in the Indian context and concludes that the potential for cost reduction in logistics is substantial, could pave the way for further work in this area.
Natural Resources Corporation Limited
Authors: Chhokar Jagdeep S , Dixit Mukund R
Published: September 2016

The October-December 1991 issue of Vikalpa had published a Management Case titled “Natural Resources Corporation Limited” by Chhokar and Dixit. The case focused on the total functioning of a mining company which was facing likely losses in the financial year 1989–90. In this issue, we publish three responses which analyse the existing situation and suggest future course of action.
Industrial Conflicts: A Statistical Analysis
Authors: Verma Pramod , Kumar K
Published: September 2016

What are the distinct trends and patterns of industrial conflicts in India in the past two decades? This article by Verma and Kumar addresses this issue and discusses the emerging trends based on an analysis of considerable data.
Dimensions of Guna in Organizational Setting
Authors: Kaur Parvinder , Sinha Arvind K
Published: September 2016

The Indian concept of gunas namely Sattwa, Rajas, and Tamas is perceived to be useful in organizational behaviour research and practice.

Analysing data collected from 310 executives of 13 organizations, Kaur and Sinha identify four factors — Tamas Guna, Rajas Positive Guna, Sattwa Guna, and Rajas Negative Guna and discuss the relationship of these variables with some organizationally relevant variables.
Spartek Ceramics India Limited
Authors: Venkiteswaran N
Published: September 2016

Krishna Prasad Tripuraneni, the Managing Director of Spartek Ceramics is wondering as to what steps he should take to maintain the growth pace of his Company — Should he expand or diversify or acquire ?

Readers are invited to send their comments on the case to Vikalpa. office.
Total Dedication Required to Meet the Challenges of Globalization
Authors: Sivaraman M R
Published: September 2016

In order to achieve the goal of making an entry into the world market and establishing a name for India for quality and technological excellence, we need to look at our strengths and weaknesses feels M R Sivaraman. According to him, the strategies have to be evolved by the government, the industry and the people.
Management Education in India: Past, Present and Future
Authors: Philip J
Published: September 2016

What are the major developments in the field of management education since the inception of the first management school in 1954 ? What is the scenario in the 90s and what are the emerging changes? J Philip focuses on these issues and offers directions for future development.
Pallavan Transport Corporation: A Case Study
Authors: Joseph Jerome , Raghuram G , Sridharan R
Published: September 2016

The Managing Director of Pallavan Transport Corporation—the urban passenger road transport undertaking in Madras—is wondering how to chart a future path for the organization keeping in mind the twin objectives of being socially responsible as well as financially self-reliant.

Readers are requested to send their responses on the case to Vikalpa office.
The Impact of Structure and Process on Organizational Politics during the Technological Innovation Process : A Conceptual Framework
Authors: Prasad Lakshmanan , Rubenstein Albert H
Published: September 2016

In this paper, Prasad and Rubenstein hypothesize relationships between the formulation and implementation dimensions of general innovation related organizational politics (GIOP) and formalization, centralization, complexity, use of matrix structures, departmental power differentials and management's propensity for risk. According to them, if the organization's structure is complex, excessively organic or mechanistic and interdepartmental power differentials and management's risk propensity skewed, then GIOP is high.
Weak Form of Efficient Markets Hypothesis: A Spectral Analytic Investigation
Authors: Ranganatham M , Subramanian V
Published: September 2016

Spectral analysis is a powerful tool in detecting hidden patterns and cycles in a time series.

This paper by Ranganatham and Subramanian is an attempt to test empirically the weak form of Efficient Markets Hypothesis (EMH) using the frequency domain approach of spectral analysis. The results of the analysis show that there are some periodic cycles in the price movements which run counter to the assertion of weak form of EMH. For a better understanding of the structure of price movements in the Indian stock market, this study calls for the use of this technique on a larger sample of individual share price series.
Developing Work Cultures for High Involvement, High Performance Work Organizations
Authors: Agrawal N M
Published: September 2016

This paper by Agrawal focuses on the need for creating strong work cultures for developing high performance work organizations. According to him, restructuring through formation of autonomous work groups, reducing hierarchies, relocation, creating awareness about the existing work culture and accultaration are some of the processes by which a strong work culture can be developed.
Management Education: The Need for Strengthening the University System
Authors: Balasubramanian A G
Published: September 2016

The October-December 1992 issue of Vikalpa had carried a Perspectives feature on the topic: “Management Education: Yesterday, To-day and To-morrow” wherein we had published four contributions on the theme by Samuel Paul, Joe Philip, J K Satia and N R Sheth. In this issue, we carry a response on their contributions.

Readers are welcome to contribute to this feature on any interesting topics covered in Vikalpa.
Predicting Corporate Sickness Using Cash Flow Analysis
Authors: Panigrahy D , Mishra D P
Published: September 2016

Corporate sickness has been a persistent phenomenon in the Indian economy since the last two decades. In recent years, this has assumed serious proportions because of staggering amount of funds locked up in sick units.

This article by Panigrahy and Mishra discusses various approaches for predicting the phenomenon of sickness in industries and presents a multivariate cash flow model to predict corporate sickness.
The Indian Institutes of Management: Need for Fresh Perspectives
Authors: Banerji Asit
Published: September 2016

The Indian Institutes of Management (IIMs), conceived as centres of excellence, were expected to provide a leadership role in the field of management education in the country. Since IIMs have been in existence for about three decades, there is a need to reflect upon their impact on the Indian industry and economy. In this article, Asit Banerji examines the role and performance of IIMs and argues for a re-examination of various issues involved in management education in India.

Readers may recall that in the October-December 1992 issue of Vikalpa, we had carried four contributions on the theme ‘Management Education’ wherein various issues such as developments in the field of management education, role of management schools, evolution of IIMs, etc. were discussed. This article by Asit Banerji is a continuation of the debate on the role of business schools, especially IIMs, in the Indian context.
Kalyan Pharma Ltd.
Authors: Jain Abhinandan K , Raghuram G , Agrawal Pramod K
Published: September 2016

The case presented in this issue focuses on the interaction between the logistics and marketing aspects of KPL�a frontrunner in the pharmaceutical industry. The key strategic question is what distribution system to have to ensure good customer service as well as improved profitability.

Readers are requested to send their responses on the case to Vikalpa office.
Recent Changes in the Theory and Policy of Cash Reserves Ratio and Statutory Liquidity Ratio: A Critical Appraisal
Authors: Bhole L M
Published: September 2016

As a part of financial sector reforms, the Reserve Bank of India is committed to a reduction in the Cash Reserves Ratio (CRR) and the Statutory Liquidity Ratio (SLR).

This paper by L M Bhole examines this issue critically and argues that the present economic conditions as well as the future economic scenario in India do not warrant a reduction in the CRR and the SLR.
Four Models of Competition and their Implications for Marketing Strategy
Authors: Nelson James E
Published: September 2016

This paper by Nelson focuses on four models or views of competition—economic, biological, globalization, and socialpsychological. Each model helps understand competition as a complex social and individual phenomenon and draws strategic implications for marketing managers.
Leaders in Action: Some Illustrations and Inferences
Authors: Ramnarayan S , Rao Ram Mohan
Published: September 2016

The lasting tribute to leaders is that the culture, institutions, and practices set in motion by them persist long after their own departure from the organizational scene. Whereas the organizations move on, the imprints of these leaders continue to inspire them.

In this article, S Ramnarayan and Ram Mohan Rao feature cases of six outstanding organizational helmsmen who had successfully built up and nurtured enduring organizations.
Patterns of New Product Introduction in Consumer Products Category
Authors: Koshy Abraham , Angel Anna
Published: September 2016

What is the nature of new product introduction strategies of multinational corporations, large, medium, and small enterprises?

Based on data on 237 product/brand launches collected from four business periodicals between January 1991 and July 1992, this article by Abraham Koshy and Anna Angel focuses on this issue.
Malaysia's Privatization Programme
Authors: Dholakia Bakul H , Dholakia Ravindra H
Published: September 2016

Malaysia is among the first few developing countries to have launched a large scale programme of privatization of public enterprises. Malaysia's experience of formulating and implementing the privatization programme is generally hailed as a success story.

In this paper, Bakul H Dholakia and Ravindra H Dholakia examine various aspects of Malaysia's privatization programme such as the objectives of privatization policy, methods of privatization, issues in implementation and the impact of the programme on the Malaysian economy, and also discuss the relevance of this experience for privatization in India.
Factors Influencing the Decision to Lease: An Indian Perspective
Authors: Srinivasan N P , Murthy S Sreenivasa
Published: September 2016

The Indian leasing industry has grown dramatically in the recent past. The reasons for leasing differ from country to country and from company to company depending on the tax and accounting policies of that country and the basic financial characteristics of the companies respectively.

It is against this background that N P Srinivasan and S Sreenivasa Murthy had undertaken a survey of the opinions of Indian finance managers on the reasons influencing their decision to lease. According to them, availability, working capital, and tax and off-balance sheet factors are important factors in the decision to lease.
Strategic Plarming in Small Enterprises: Some Empirical Evidence
Authors: Ramachandran K
Published: September 2016

What are the core elements of a strategic planning system for small enterprises? Does it range from understanding of the environment to preparation of detailed written plans?

Based on available literature and a study of 117 small firms in Ahmedabad, this article by K Ramachandran focuses on this topic and discusses the nature of strategic planning that may be appropriate for small firms.
National Publishing Company: Marketing of Children's Fortnightly Magazine
Authors: Koshy Abraham
Published: September 2016

The Marketing Manager of National •Publishing Company—Mr R Saxena—is contemplating on the strategies he should adopt to increase the sales of Titli, a children's fortnightly vernacular published by the company.

Readers are invited to send their responses on the case to Vikalpa office.
JIT Implementation: Integrating Production Planning with Process Improvements
Authors: Narayanan N
Published: September 2016

Programmes of change such as Kaizen, JIT, TQM, etc, which envisage a cultural change, are helpful in achieving improvement as a way of life in an organization. However, the existing practice of “management by crises' can act as a formidable barrier for devoting time to improvement activities.

This paper by N Narayanan explores the phenomenon of management by crises' and discusses an integrated approach aimed at facilitating development of a new practice of early detection of problems and solving problems at the source.
Reforms in Non-bank Financial Intermediaries
Authors: Mody R J
Published: September 2016

Reforms in the financial sector would mean changes in financial institutions and financial markets. Financial institutions can be classified into banks and non-bank financial intermediaries.

In this article, R J Mody focuses on reforms in the area of non-bank financial intermediaries.
The Indian Capital Market at Crossroads
Authors: Bhole L M
Published: September 2016

With the objective of developing a balanced perspective on the role of industrial securities market in India, this paper by Bhole analyses major trends, changes, problems, and issues relating to primary and secondary markets over a period of 40 years and suggests various reforms for restoring the health of the capital market.
Chinese Economic Reforms: Path, Progress, and Prospects
Authors: Sandesara J C
Published: September 2016

In recent years, Chinese economic reforms have attracted world-wide attention for a number of reasons. This article by J C Sandesara discusses the reason for the widespread interest in the Chinese reforms, elucidates the underlying principles of reforms, outlines their applications to major sectors of the economy, highlights the achievements during the reform years, and speculates on the future of reforms.
General Agreement on Tariffs and Trade, 1994: An Explanatory Note
Authors: Oza A N
Published: September 2016

There has been considerable debate in recent years whether India would gain substantially from the growth-effects of GATT. In this article, A N Oza explains the important provisions of the controversial GATT agreements which will enable the reader to make his or her own judgement whether the package as a whole will be beneficial or detrimental to the Indian public interest.
Seed Industry in India: Issues Arising from GATT
Authors: Basant Rakesh
Published: September 2016

Any analysis of the Intellectual Property Rights relating to the seed industry in India needs to take cognizance of three interrelated issues: (a) that the current debate on IPR is part of a larger debate on issues relating to GATT; (b) that the options on IPR are intricately linked to the New Economic Policy and the accompanying liberalization process; and (c) that the IPR relating to plant varieties need to be seen in a broader framework of the seed policy pursued by the government.

In this background, this paper by Rakesh Basant reviews the available literature and data to explore the impact of IPR on the seed industry in India.
Nagar Panchayat Hospital (A)
Authors: Sriram M S , Jairath Divya , Sinha Prashant
Published: September 2016

The case is targeted to discuss the importance of accounting information in decision making process. While this information is available in standardized formats in corporates, the local self-government accounting is quite different.

In trying to look at the desirability of detailed accounting information and accounting treatment of notional expenses such as depreciation, one generally tends to ignore the form of organization, its source of finances, and the objectives of information dissemination. The case tries to highlight and sensitize the discussants to accounting concepts as applied to local self-governments.

Readers are invited to send their responses on the case to Vikalpa office.
On Corporate Strategy and Financial Strategy
Authors: Korwar Ashok
Published: September 2016

This article by Ashok Korwar makes an attempt to systematically develop the link between corporate strategy and financial strategy.

Drawing on concepts from both strategic management and financial theory, the paper develops propositions which may act as guidelines for top managers in formulating financial strategies, given the corporate strategies their companies are pursuing. A select number of corporate strategy types is considered, and the implications for capital structure, dividend policy, and capital budgeting policy of each corporate strategy type are disscussed.
Rent-seeking : A Selective Survey of Recent Literature
Authors: Rajagopalan R.
Published: September 2016

In this article, R Rajagopalan reviews some of the recent literature on rent-seeking and points out the relevance of the insights of this literature for the on-going policy debates on economic reforms.
TCI Packaging Division
Authors: Narayanan M
Published: September 2016

Mr D K Sharma, the Marketing Manager of TCI Limited, Madras, is contemplating on the strategies to adopt in developing a new packaging solution for bulk cashew exports.

Readers are invited to send their responses on the case to Vikalpa office.
Management Innovations in Government: Some International Experiences
Authors: Kaul Mohan
Published: September 2016

Over the last two decades, there have been changes in the role and responsibilities of the government driven largely by economic pressures. There is an increasing concern, in fact, to adapt structures and values that will achieve greater efficiency and be more responsive to consumer needs.

In this paper, Mohan Kaul has argued that governments would be able to succeed in the global environment by placing the concept of continuous policy review and management innovations in the centre of their philosophy.
Cost of Capital, Optimal Capital Structure, and Value of Firm: An Empirical Study of Indian Companies
Authors: Dhankar Raj S , Boora Ajit S
Published: September 2016

Academicians and practitioners alike have found it difficult to resolve the issue of optimal capital structure in the perfect capital markets of the West as well as in the imperfect capital markets, as in India. This paper examines whether there exists an optimal capital structure in Indian companies, both at the micro and the macro level and whether financing decisions affect the value of a firm.
Who is the Loser?
Authors: Gambhir Sanjiv K , Bhal Kanika T
Published: September 2016

The case highlights how lack of decision making and a tentative approach of the management in an organization can lead to disillusionment and dissatisfaction among the employees.

Readers are invited to send their responses on the case to Vikalpa office.
Cooperative Rural Banking: Anad Shows the Growth-oriented Path
Authors: Desai Bhupat M , Namboodiri N V
Published: September 2016

Anad Farmers Service Cooperative Bank is an innovative bank in both the spirit of its cooperation and rural banking. This bank is also financially viable and growth-oriented.

This paper by Bhupat M Desai and N V Namboodiri analyses how this bank could be successful under the same macro rural credit policies that governed most rural financial institutions. The paper also offers some suggestions on what macro rural credit policies may continue and which ones need modifications to extend the experiment of this bank.
Government Initiatives, Regulation, and Financing of the Telecommunications Sector
Authors: Vittal N.
Published: September 2016

In the context of the liberalization of the economy, telecommunication has become an important infrastructure which can really catalyse growth. What are the factors that drive the growth of the telecom sector? According to N. Vittal, technology, political will, judicial activism, and market dynamics are the four significant factors that will help in the country's leap forward strategy to catch up with gobal telecom services in terms of density and quality.
Dimensions of Marital Roles in Consumer Decision-making
Authors: Nathan S V
Published: September 2016

This study is a partial replication of an earlier study by Davis who studied the dimensions of marital roles in consumer decision-making in the planned purchase of two major consumer goods – automobiles and furniture. The original study was conducted in the late 1960s in Chicago whereas this study examines husband-wife roles in consumer family decisions in the Indian context (for the same products – automobiles and furniture). Despite significant differences in the timing of the two studies and also in the cultural and social contexts in India and the US, this study finds the pattern of relative influence of husband and wife in important purchase decisions to be essentially similar to that of Davis.
Oil and Mineral Excavating Company Limited
Authors: Ghosh Mousumi
Published: September 2016

The case featured in this issue depicts a situation enmeshed in several organizational and systems problems with behaviourial manifestations. Mr Basak is addressing the problem of non-receipt of two vital equipments on time due to which drilling operations of an Oil Company in the public sector had to be suspended causing financial and non-financial losses.

While familiarizing the readers with the organizational reality where pinpointing of a problem situation is often difficult, the case raises a few important issues: Is it possible for an individual to tide over multiple organizational constraints with innovation, patience and tact and is advancement always through questioning the existing way of doing things?

Readers are invited to send their responses on the case to Vikalpa Office.
A Note on HRD Climate
Authors: Venkateswaran K Prasanna Sai
Published: September 2016

Based on the responses of 132 executives of a large public sector heavy engineering organization located in Karnataka, this study attempts to analyse the major factors that are conductive to the development of HRD climate and concludes that early identification of human resource potential and development of skill are the two major tasks of HRD.
Budget: A Retrograde for Agriculture
Authors: Desai Bhupat M
Published: September 2016

According to the author, though the budget has some positive initiatives for agriculture, they are unlikely to pull the sector out of its poor growth in postreform period. Moreover, the budget shows that the government expenditure for agriculture leaves much to be desired. Therefore, the author suggests that the budget could have had better inter-sectoral perspective for generation and allocation of resources to employment-led economic growth and alleviation of absolute poverty with which agricultural growth is complementary.
The Railway Budget: Just an Anachronism or an Obstacle to Progress?
Authors: Manikutty S
Published: September 2016

This paper gives an overview of the Railway Budget 1997–98 and identifies the crucial issues that need to be addressed. According to the author, a separate Railway Budget seems neither necessary nor desirable in the present circumstances as it fails to address crucial issues and instead concentrates on populist schemes that will place a permanent burden on the Railways.
Technology, Cost Reduction, and Returns in Agriculture: A Study of Wheat and Rice in Punjab
Authors: Gandhi Vasant P
Published: September 2016

This study examines the impact of new technology on costs and returns in agriculture, taking the leading cases of wheat and rice in Punjab. Apart from boosting production, has the new technology achieved the fundamental objectives of reducing per unit costs and raising returns? The study finds that reduction in real per unit cost of production has indeed been achieved for both wheat and rice. However, real returns in wheat have been stagnant, since yield increases are offset by declining real domestic prices. Real returns in rice have, however, risen substantially. Curiously, the upward pressures on costs have come not from new technology inputs but from conventional inputs such as labour and draught power.
Three Models of Management Education
Authors: Singh Sampat P
Published: September 2016

In this paper, Sampat P Singh describes three models of management education: the pragmatist, the professional, and the humanist and emphasizes that for continuous education in future, we ought to use all three models simultaneously.
Interest Rate Swaps: A Tool for Working Capital Management
Authors: Dutta Abhijit
Published: September 2016

Swaps are here to stay as a fruitful combination of swaps with other fixed rate debt serves the firm's long and short-term interest. In this paper, Abhijit Dutta shows how a firm's current asset and liability positions can be changed by the use of Plain Vanilla Swaps.
Blair Water Purifiers India
Authors: Nelson James E
Published: September 2016

The case featured in this issue deals with international marketing strategy and current business conditions in India particularly in the field of home water purification devices. Rahul Chatterjee is entrusted with the task of gathering background data on the possibility of Blair Company entering the competitive Indian market for home water purification devices. The data would be used by the executives to make a recommendation on market entry and on elements of an entry strategy.

Readers are invited to send their responses on the case to Vikalpa Office.
Economic Growth and Power Sector Developments in South East Asia
Authors: Gupta Pavan , Chapman Ross L
Published: September 2016

In recent years, many South East Asian nations have shown strong economic growth coupled with success in attracting considerable direct foreign investment. In order to sustain the current and projected growth levels, many countries in South East Asia will need to focus on major investments for infrastructure development, especially in their power generation and distribution sectors. As highlighted by the current financial crises being experienced in several South East Asian nations, the future growth of this region will require much stronger support from the international financial institutions, which in turn will lead this region toward a greatly increased level of privatization. The establishment of contestable energy markets is a particularly good example of the type of developments required in these nations. In order to create a healthy climate for the massive financial investment needed for a truly liberalized energy market, a number of difficult political and social issues common to many of these rapidly developing economies must be resolved.
Utilization of Different Categories of Resources in Indian Industry
Authors: Majumdar Sumit
Published: September 2016

In this paper, Sumit Majumdar analyses the patterns of utilization of various key resources — production staff, administrative staff, physical capital, and working capital — in the Indian indus try between the period 1950-51 and 1992-93. The ratio of optimal to actual input usage is calculated for the four key resource inputs. It is found that Indian industry was relatively efficient in the 1950s, but efficiency had plummeted in the 1960s and 1970s relative to the 1950s. The regression of industrial performance in the 1960s and 1970s was reversed in the 1980s. However, in the 1990s, the Indian industry has merely caught up with a performance level once attained in the 1950s and no dynamic progress in its performance over time is noted.
Assessing Consumer Preference for Product Features Selection : Solar Cookers
Authors: Naik Gopal , Sharan Girja
Published: September 2016

Previous studies on solar cookers currently available in the market had indicated the need for redesigning to suit user requirements better. In order to help design engineers in developing next generation solar cookers, Gopal Naik and Girja Sharan use conjoint analysis to quantify values or utilities the users⁄ potential users associate with each important feature they desire Analysis reveals that three important features are: stainless steel vessel as against aluminium, provision of an electrical backup as against an exclusive solar device, and installation of an indicator to enable the user to judge the degree to which cooking has progressed.
Abstracts Indian Management Research
Authors: Sarkar Mitali
Published: September 2016

This section features abstracts of articles covering empirical studies, experiences, ideas, and theories published in Indian and international journals. Sponsored by the Indian Council of Social Science Research, New Delhi, this service is intended to facilitate Indian management research.

Authors desirous of having their publications considered for inclusion in this feature may please send reprints of their articles to Vikalpa Editorial Office.
Liberalization of Foreign Investment Policy in India: Some Observations
Authors: Das Tarun
Published: September 2016

Liberalization of foreign investment policy is a central component of India's economic reforms. While the need for foreign capital is hardly disputed⁄ there has been a continuing debate on the scope, coverage⁄ and impact of a liberalized foreign investment policy. In this paper⁄ Tarun Das argues that the debate on foreign investment policy lacks perspective and there seems to be very little appreciation of the emerging compulsions of the new international economic order. India's foreign investment policy has certainly become broadbased in recent years⁄ but it is still far from complete and further liberalization of foreign investment policy appears ⁄ inevitable in view of the pressures as well as obligations associated with the future global scenario.
India's Export Performance and Policies: An Appraisal
Authors: Wadhva Charan D
Published: September 2016

India's exports have so far failed to take off to a longterm self-sustaining high growth path. In this paper⁄ Charan Wadhva provides a critical appraisal of the export performance and policies of India during the period 1950-97 with focus on two sub-periods of 1950-90 and 1991 onwards. He concludes that the actual record of growth of India's exports throughout the period 1950-97 can be explained by the strengths and weaknesses of India's export policies identified in this paper both at the governmental (macro) and industry (micro) levels. He also provides an illustrative list of major strategic policies and measures to enable India to fulfil national aspirations for re-emerging as a global player of greater consequence in line with India's potential in this regard.
Organizational Culture in the Changing Environment
Authors: Bhatnagar Deepti , Bhandaris Leena
Published: September 2016

In the context of rapid changes taking place in the economic and business environment in the country⁄ organizations need to transform themselves radically in order to seize new opportunities. Arguing that organizational culture is a crucial organizational variable that can facilitate or impede the change process⁄ this paper by Deepti Bhatnagar and Leena Bhandari presents results of an empirical study.

The use of competing values framework showed hierarchy to be dominant and market culture to be weak in our organizations⁄ although there appeared to be interesting differences between the private sector⁄ the public sector⁄ and a government department. Implications of these findings are presented.