bluuebunny/crossref_metadata_2025 huggingface dataset:
Labour Relations in the New Economic Environment
Authors: Sheth N R
Published: September 2016

The process of rationalization and liberalization dominating the government's new economic policy (NEP) is an inevitable part of India's need to exist and grow with dignity in the emerging global economy. While this implies freedom and flexibility for industry, this has also led to incidence of labour redundancy, unemployment and casualization. With the government committed to full employment in the current five-year plan and the trade unions bearing a crucial social responsibility to protect workers' interests, the industrial relations issues involved in NEP need to be resolved amicably.

This paper by N R Sheth examines these issues in detail and discusses the need for a meaningful dialogue among the various concerned parties in an atmosphere of mutual trust.
Assessing Ability for Strategic Planning
Authors: Das J P , Misra Sasi , Mishra Rama K
Published: September 2016

The ability to find parsimonious solutions to problems, make good judgements and decisions relates to the intelligent functioning of humans. These are particularly significant functions of managerial work. However, standard intelligence tests and aptitude tests of one sort or another predominantly measure the ability to code information, to store it and retrieve it when necessary. Whereas these abilities are necessary for academic and scholastic success, what counts outside the scholastic environment of classrooms is the former. This, in essence, is called "planning."

The research reported here by J P Das, Sasi Misra and Rama K Mishra includes the development of a test of "planning" that is contextually relevant for management and examines its psychometric properties.
RBI Autonomy and the Indian Financial Sector
Authors: Barua Samir K , Varma Jayanth R
Published: September 2016

In the context of the worldwide trend towards greater independence for the central banks and the recent public pronouncements by the Governor of the Reserve Bank of India (RBI), there is now a strong possibility of the RBI being given more autonomy. This is likely to be accompanied by several changes in the operations of the RBI including a pruning of its peripheral functions.

This paper by Samir K Barua and Jayanth R Varma argues that these changes would have momentous implications for the financial system as a whole. Portfolio managers would have to contend with a wider choice of securities, more frequent portfolio rebalancing and use of risk hedging mechanisms. Corporate finance managers would face increased complexities in decisions like financing mix, cash management, designing financial instruments, capital budgeting and management of exchange risk.
Conceptualizing the Link between Strategy, Structure and Information Technology : Implications for Computer Based Systems Configuration
Authors: Bajwa Deepinder S , Chaudhuri Shekhar , Ramaprasad Arkalgud
Published: September 2016

In order to choose an appropriate computer based systems (CBS) configuration for an organization, it is necessary to consider the complex interrelationships between its strategy, structural form and the information technology.

In this paper, the authors present a conceptual framework integrating the three dimensions which, apart from providing useful insights on their relationship, would also serve as a basic template for CBS configuration design.
Volatility Shifts in Stock Market Returns : A Look at Emerging Markets
Authors: Broca Dilbagh S
Published: September 2016

The volatility or risk parameter, usually defined as the standard deviation of stock returns, forms the cornerstone of contemporary finance theories. Reliability of results obtained from various financial decision making models depends on the stability, finiteness, and accuracy of risk estimates.

This paper by Broca examines the stability of this parameter using weekly market data over 1990-91 in respect of 17 emerging markets identified by the International Finance Corporation. Through an application of nonparametric test procedures, the study detects variance heterogeneity for 6 out of 17 markets. Though not pervasive, a review of major political-economic events over the sample period, with special reference to the Gulf crisis of August 1990, is attempted to partly validate empirical findings.
Travails of Flayers' and Tanners' Cooperatives in Uttar Pradesh
Authors: Jain Vinod
Published: September 2016

The case featured in this issue highlights the problems faced by the marginalized producers/users in the rural sector with specific instances of leather flayers and tanners of Uttar Pradesh.

Readers are invited to send their responses on the case to Vikalpa Office.
Income and Price Elasticities in India's Trade
Authors: Gupta G S , Keshava H
Published: September 2016

This article by G S Gupta and H Keshava estimates the export and import functions for India both at the aggregate (rest of the world) as well as the important individual country levels using annual time series data for the period 1960-61 through 1990-91.
Agricultural Finance Corporation, Zimbabwe
Authors: Pandey I M , Ramnarayan S
Published: September 2016

The case by IM Pandey and S Ramnarayan published in this issue throws up the following issues for discussion. First, what are the major changes in the environment of AFC and what are the major elements of AFC's strategy to meet the demands of the new environment? Second, how should AFC be organized to perform a developmental role? What skills, work methods, and culture should it develop? Third, what should be the programme for human resource development and financial policy to fulfil the organization's mission and objectives?

Readers are invited to send their views on the case to Vikalpa office.
Analysis of the Indian Securities Industry: Market for Debt
Authors: Barua Samir K , Raghunathan V , Varma Jayanth R , Venkiteswaran N
Published: September 2016

In the current liberalized environment, the Indian debt market appears to be all set to take off. With the commencement of trading of debt instruments by the National Stock Exchange this year, the secondary market of the Indian debt market is expected to achieve a significant level of activity. In this context, a closer understanding of the Indian debt market in terms of the private corporate sector, public sector, government sector, and the housing finance sector assumes increased importance.

In this paper, the authors provide the much needed perspective on the Indian debt market as a whole and make recommendations for its development wherever necessary.
The National Renewal Fund: Promise, Performance, and Prospects
Authors: Cowlagi V R S
Published: September 2016

The National Renewal Fund (NRF), set up in February 1992, aims to provide a safety net to protect the workers in industrial enterprises from possible adverse consequences of the new economic policy.

In this article, V R S Cowlagi examines the scope and the performance of the NRF and suggests various ways of enhancing its impact.
Macroeconomic Analysis of Union Budget 1995-96
Authors: Dholakia Bakul H
Published: September 2016

The Union Budget for 1995–96 was the fifth consecutive budget presented by Dr Manmohan Singh, but its formulation was a more difficult task than the earlier ones for various reasons. This article by Bakul H Dholakia is an attempt to present a broad macroeconomic analysis of the main proposals and provisions of the budget in the context of its stated objectives and examine the likely impact of the budget proposals on the economy especially in the short run.
The Case of the Sharavathi Tailrace Project
Authors: Varambally K V M
Published: September 2016

The Chief Executive of Karnataka Power Corporation (KPC) is wondering what steps he should take now to continue work on the Sharavathi Tailrace Project as the renewed opposition to the project by the environmentalists now has the added support of the religious leaders.

Readers are invited to send their responses on the case to Vikalpa office.
Monitoring Volatility Changes on the Bombay Bourse: A Control Chart Approach
Authors: Broca Dilbagh S
Published: September 2016

In this study by Dilbagh S Broca, a control chart approach is developed for dynamically monitoring changes in the volatility of aggregate share prices on the Bombay Stock Exchange (BSE) as measured by the BSE Sensitive Index of Equity Prices. This approach is tested on daily Sensex movements from 1990 through 1992 and the results show that several volatility changes may have taken place many of which either signal the onset⁄decline of speculative manias witnessed in recent years or broadly correlate with release of extraordinary information.
A Framework for Analysing the Handloom Industry
Authors: Thakur Anupama
Published: September 2016

In the past, we have been receiving several short articles for consideration in Vikalpa. Because of their limited scope and length, we were unable to accommodate them in the journal.as full-fledged articles.

We are happy to announce that from this issue onwards, Vikalpa is starting a new feature titled Notes with a view to include such short pieces whichcan be researchbased, experience-based or idea-based.

Vikalpa invites researchers and managers particularly young researchers and managers to contribute to this new feature.
Implementing the Global Biodiversity Convention: IPR for Public Good
Authors: Swaminathan M S
Published: September 2016

Transparent and implementable methods of recognizing and rewarding the contributions of tribal and rural women and men in the conservation of biodiversity have become exceedingly urgent in the context of the provisions of the Trade Related Intellectual Property Rights (TRIPS) under the World Trade Agreement.

In this paper, M S Swaminathan points out how considerations of equity can be integrated with those of ecology and economics in recognizing and rewarding informal innovations in genetic conservation and enhancement.
The Making of an Entrepreneurial Global Manager
Authors: Jain Arun Kumar
Published: September 2016

The context, scale, and intensity of global competition demands that firms, in order to gain sustainable competitive advantages, adopt proactive, innovative strategies. Impact-making and pioneering innovations require a global perspective, a scientific temper, and teamwork. Such path-breaking entrepreneurship is possible through high potential individuals who would need to have not only an ability to think through logically but also be innovative.

In this article, Arun Kumar Jain emphasizes the need for making such globally-relevant, professional entrepreneurial managers, outlines some important characteristics, and identifies key opportunity areas.
MKTEFFECT: A Multiple-item Scale for Measuring Marketing Effectiveness in American Consumer Banking through Customer Judgement
Authors: Sharma R.D.
Published: September 2016

This paper by RD Sharma presents the development of a 33-item scale called MKTEFFECT for obtaining customer judgement on the efficacy of marketing efforts in American consumer banking.
Currency Swaps: An Instrument of International Finance
Authors: Sivakumar Sivaprakasam , Mathew Anita
Published: September 2016

A currency swap involves exchange of principal and interest payments in two different currencies between two parties. Swaps are off balance sheet transactions and have grown at a phenomenal rate.

This article by Sivaprakasam Sivakumar and Anita Mathew focuses on the development of the swap market, presents an overview of currency swaps, and analyses the participants. It also discusses the basic types of swaps, assesses the risks and regulatory means of minimizing the risks, focuses on the practical applications, and evaluates the relevance of swaps to India.
National Dairy Development Board
Authors: Kanitkar Ajit
Published: September 2016

This case briefly discusses how NDDB came into existence, its role in promoting dairy activities in the country, the new initiatives taken by this institution beyond the dairy sector, and the present scenario under the new economic policies and the political environment in the country.

The case also raises a few strategic and other related questions that the organization needs to address. Readers are invited to send their responses on the case to Vikalpa office.
The Mexico Syndrome
Authors: Rahman Zillur
Published: September 2016

This paper by Zillur Rahman discusses what lessons the Mexican crisis holds for developing countries like India.
Macroeconomic Analysis of Union Budget 1996–97
Authors: Dholakia Bakul H
Published: September 2016

The Union Budget for 1996–97 was the maiden budget of the recently formed United Front Government. In this article, Bakul H Dholakia presents a broad macroeconomic analysis of the main proposals and provisions of this budget in the context of the stated objectives and examines the likely impact of the budget proposals on the Indian economy.
Towards Reformation of State Sales Taxation A Case Study of J&K Sales Tax
Authors: Dar G Mn
Published: September 2016

This study examines the existing structure and operations of the sales tax system in Jammu and Kashmir, identifies possible areas that need reforms, and suggests measures for the same.
Market Driven Manufacturing : A Requirements Analysis
Authors: Basu Kunal , Chandra Pankaj
Published: September 2016

In this paper, Kunal Basu and Pankaj Chandra develop a framework for market driven manufacturing that identifies market conditions and success requirements for determining the necessary manufacturing focus. These are then mapped on to specific operational practices. Managerial and research implications of the above are presented followed by an illustrative network flow model that plans manufacturing capabilities under different marketing environments.
Future of Industrial Relations and Industrial Relations in Future : The Indian Scenario
Authors: Rath Devashis , Misra Snigdharani
Published: September 2016

Today, the Indian economy has opened up to face global competition and there is already a rush of foreign capital and industry into this country. This change in the economic environment has affected the entire gamut of structures, styles, and contents of all those who have a stake in the economic firmament of this country.

This article by Devashis Rath and Snigdharani Misra analyses the effect of this change on the industrial relations scenario of our country and makes an attempt to put forth a possible futuristic model of industrial relations in the years to come.
Alternate Management Structures : The Case Study of a Corporate Executive Turned into a Strategic Partner
Authors: Sankar Chetan S
Published: September 2016

This case study briefly describes how Mr Sampath Kumar, the Chief Executive of a company, left that job to work under an alternate management structure — that of forming strategic alliances — and compares the traditional set up and strategic partnerships.

Readers are invited to send their responses on the case to Vikalpa office.
New Agenda of the World Trade Organization
Authors: Lakshminarasaiah M
Published: September 2016

In this feature, M Lakshminarasaiah discusses the new agenda of the World Trade Organization such as trade and environment, trade and investment, trade and social standard, reciprocity and regionalism, etc.

Readers are invited to contribute to this feature.
A System Dynamic Study of Apple Movement from Orchards to Wholesale Market
Authors: Sharan Girja , Kayastha Sandeep
Published: September 2016

This paper presents a simulation model of fruit movement from orchards in Himachal Pradesh to the market of Agricultural Produce Market Committee (APMC) in Delhi. Daily arrivals in Delhi as predicted by the model are compared with the data on actual arrivals from records maintained at APMC. The comparisons appear satisfactory.

The results suggest that the system dynamic modelling approach is promising and, with some refinement, can provide an analytical support for those engaged in formulation of policies to improve the post-harvest systems of fruit industry.
The Chidambaram Budget: Stable High Growth with a Human Face
Authors: Parikh Kirit S
Published: September 2016

The 1997–98 Budget has been hailed as a remarkable one as it promises high growth without inflation and with a human face. Can it fulfil its promise? What are the assumptions behind the budget and what are the policies required to realize the promise? In this article, Kirit S Parikh focuses on these issues and argues that the budget is a growth-oriented one.
Why are We Junking This Engine of Growth?
Authors: Morris Sebastian
Published: September 2016

The appreciation in the real value of the rupee would bring down export growth rate to less than 6 per cent for 1996–97 and unless corrected would lower the growth rate of the economy. Today, the economy is ideally situated to grow at rates in excess of 9 per cent if a sharp depreciation of the rupee can be brought about. Such growth would be sustainable. That the state has not pursued growth maximizing policies via exports growth is due to the limitations that the rentier classes impose, and to its adherence to monetarist ideology. Achieving convertibility on capital account would be too premature for an economy which is yet to achieve its industrial transformation.
The Union Budget 1997–98 and the Industrial Sectors
Authors: Sandesara J C
Published: September 2016

In this analysis of the Union Budget, J C Sandesara focuses on the impact of the budget on the Industrial Sector and examines whether the proposals can accelerate industrial growth as well as sustain the growth during the Ninth Five Year Plan (199–2002).
Impact of the Budget on the Capital Markets
Authors: Varma J R , Raghunathan V
Published: September 2016

This was a budget that carried reforms forward in all the main areas – fiscal correction, tax reforms, and tariff reforms. Most importantly, the budget broke the vicious cycle of worsening expectations that had put the stock markets into a bear grip and pushed business confidence to an all time low. According to J R Varma and V Raghunathan, the budget ought to go a long way in reviving the stock market and restoring business confidence.
Telecom Services in Urban and Corporate Segments: A Consumer Perspective
Authors: Manikutty S.
Published: September 2016

Based on a sample of respondents — both owners and non-owners of telephones—drawn from two cities of Gujarat as well as three corporate houses of Ahmedabad, this study by S. Manikutty identifies issues regarding estimation of demand for telephone connections and services and draws implications for the government including the role of TRAI.
Operationalizing a Regulatory Framework in India
Authors: Jain Rekha
Published: September 2016

India has undertaken a number of economic and telecom policy reforms such as private participation and introduction of competition both in basic and value-added services. Legislation to set up a Telecom Regulatory Authority of India (TRAI) has recently been enacted in the Parliament. This paper focuses on the proposed structure, scope, and functions of TRAI in the context of some of the critical issues facing the Indian telecom sector and analyses its role in addressing these issues.
Linking Telecom Technologies: Complementarities, Capabilities, and Policies
Authors: Basant Rakesh , Chandra Pankaj
Published: September 2016

This paper is a preliminary exploration to develop a methodology for assessing the technological capabilities and needs of the telecommunications sector in India. It makes a case for strategic policy interventions to build adequate domestic capabilities in this crucial sector with significant externalities. The authors develop a model for mapping technological capabilities through the concept of a technology supply chain and establish the role of complementary assets (like manufacturing withim and outside the sector) in developing and appropriating technologies. They argue that policy initiatives need to be based on these considerations. A brief review of Asian experiences also supports this point of view.
Mergers and Acquisitions: Nature and Significance
Authors: Mehta Dhawal , Samanta Sunil
Published: September 2016

The significance of mergers and acqmsltions is undergoing change since liberalization in India. The MRTP Act and FERA have been amended paving way for large business groups and foreign companies to resort to the merger and acquisition route for growth. Further, the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, have been notified. Exit policy would be a step further towards the logical conclusion of liberalization process. All these are likely to change the approach for corporate growth in India. In this article, Dhawal Mehta and Sunil Samanta explain the types of mergers and acquisitions and classify specific cases of mergers and acquisitions. They further suggest areas for future research.
Southern Soft Board Limited
Authors: Venugopal R , Dixit M R
Published: September 2016

The liberalization policies of the government have affected the indigenous manufacturers of soft board indus try in general and Southern Soft Board Limited (SSBL) in particular. The Managing Director has appointed a task force to diagnose the situation faced by the company and develop strategic action plans for the future. Considering that the opportunities are few, threats are more, and options are limited, what should SSBL do?

Readers are invited to send their responses on the case to Vikalpa Office.
Exchange Rate Policy Reforms: Recent Initiatives
Authors: Tarapore S.S.
Published: September 2016

As the world economy gets increasingly integrated, the management of exchange rate assumes a critical role in the country's macroeconomic policy. Tarapore argues that monetary authorities are duty bound to maintain a desired exchange rate through appropriate market intervention. The main problem in exchange rate management in India has been the appreciation of real effective exchange rate. According to Tarapore, in the absence of transparency in exchange rate management, the transmission of signals from the central bank to the forex market are muted and counter-productive. A more transparent exchange rate policy is more likely to generate greater confidence among the market participants and thereby minimize the need for frequent market intervention.
Indian Financial Sector Reforms: A Corporate Perspective
Authors: Varma Jayanth R
Published: September 2016

Until the early 90s⁄ corporate finance managers in India were given very little freedom in the choice of key financial policies as the government regulated the pricing of debt and equity instruments and directed the flow of credit. Financial sector reform over the last six years has exposed managers to complex financial choices amidst increased volatility of interest rates and exchange rates, and made them accountable to an increasingly competitive financial marketplace. Nevertheless, the slow pace of financial liberalization so far has given Indian corporates the luxury of learning slowly and adapting gradually. Gradualism has also meant that there is a large unfinished agenda of financial sector reforms. According to Jayanth Varma⁄ Indian companies should now prepare themselves for further changes that lie ahead. The East Asian crisis is a warning for the Indian corporate sector to pursue more prudent and sustainable financial policies.
Economic Reforms and the People Sector
Authors: Bhatt Ela R
Published: September 2016

In recent years⁄ there has been considerable discussion in India on Structural Adjustment Programme and its impact on the economy. However⁄ the moot question is whether restructuring efforts have benefited the ‘people sector’ that includes the workers who are informal⁄ unorganized, and selfemployed.

Based on years of experience with SEWA, Ela Bhatt argues that most economic policies including the recent economic reforms have largely benefited the large corporate bodies and have completely ignored the poor and the women. According to her⁄ it is possible to benefit from the reforms if the focus of economic reforms is shifted to the micro level.
Abstracts
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 and is sponsored by the Indian Council of Social Science Research, New Delhi.

Making a departure from the regular practice, in this issue, we bring you extended abstracts of selected articles on economic reforms in India. These articles reflect the responses of academicians and bureaucrats on different aspects of India's economic reforms, including the Indian economy, industry, agriculture, financial sector, employment and labour relations.
The Non–durable Consumption Expenditure Decision–making Process: Lessons from the Australian Experience
Authors: Tolar Martin M , Hyland Paul W B , O'Mara Charles E
Published: September 2016

In recent years⁄ the Indian economy has undergone a number of reforms, resulting in a more marketoriented economy. These reforms have also seen the emergence of a growing middle class with a high disposable income. This increased prosperity has led to increases in demand for both durable and nondurable consumer items. This paper by Tolar⁄ Hyland, and O'Mara reports upon a study of Australian consumers that is designed to provide manufacturers, retailers, and distributors of nondurable goods and services with an insight into what information influences consumers to purchase these items. In doing so, the paper also reports upon India's developing consumer markets. The results of the survey are then applied to the Indian experience with a view to presenting Indian managers with an insight into what determinants consumers take into consideration when purchasing non-durable goods and services.
Aokam Perdana Berhad
Authors: Varma Jayanth R , Raghunathan V
Published: September 2016

When you hold put options on a convertible bond, it is considered to be a wonderful opportunity to profitfrom the upside potential of the underlying security while enjoying downside protection. A Singaporebased portfolio manager of a London-based fund has investments in Euro convertibles with put options of a large Malaysian timber company. However⁄ he is jolted out of his sense of complacency about his put options when he learns that the put option may spell bankruptcy for financially weak companies like Aokam Perdana Berhad. So⁄ aren't put options safe after all?

Readers are invited to send their responses on the case to Vikalpa Office.
Macroeconomic Analysis of the Union Budget 1998-99
Authors: Dholakia Bakul H
Published: September 2016

There were several expectations as well as apprehensions about the maiden budget of the newly elected coalition government led by the BJP. This paper by Bakul Dholakia presents a critical appraisal of the macroeconomic aspects of the Union Budget 1998-99. According to Dholakia, the budget lacks the necessary focus as it tries to achieve a wide ranging array of highly ambitious objectives. The most disappointing feature of the budget is the reversal of the process of fiscal reforms. The fiscal deficit-GDP ratio is likely to increase sharply to 6.7 per cent. The author's post-budget macroeconomic forecast reveals that the Finance Ministry's rather optimistic projections of economic growth⁄ inflation, and fiscal discipline during 1998-99 are most unlikely to materialize. Given such a highly protectionist and inflationary budget, only some sort of a miracle can pull the Indian industry out of the current recessionary trend.
From East Asian Miracle to Debacle: Bad Banking and Moral Hazard
Authors: Moorthy Vivek
Published: September 2016

This paper by Vivek Moorthy evaluates the policy choices and factors that have contributed to the Asian crisis. It is argued that the interaction between rela - tively closed and weak banking systems and liberalized financial flows played a major role in the crisis. Data on capital flows to Taiwan suggest that the prospect of an IMF bailout is likely to have induced risky private capital flows to East Asia. The appropriate policy response is not to impose sweeping controls⁄ as is often being recommended, but to partially restrict capital inflows while simultaneously free up limited outflows, and also expose the banking and financial services sector to more external competition.
Crisis in East and South East Asia
Authors: Sarkar Mitali
Published: September 2016

This special volume of abstracts, focused on the East Asian economic crisis, captures the interpretations of various experts in the field. These extended abstracts are based on selected articles and speeches reflecting on the rise and fall of these economies, on the probable causes and the suggested cures, and on their implications for the different economies, including India. We look forward to your comments on this special volume.

Abstracts of Indian Management Research is a regular feature of Vikalpa and is sponsored by the Indian Council of Social Science Research.
Persistence in the Indian Stock Market Returns: An Application of Variance Ratio Test
Authors: Madhusoodanan T P
Published: September 2016

This paper by Madhusoodanan applies the variance ratio tests under the null hypotheses of homoscedasticity as well as heteroscedasticity, to the Indian stock market. The tests are conducted at the aggregate level of market indices and disaggregate level of individual stocks. The results indicate that random walk hypothesis cannot be accepted in the Indian market. Both the market indices the author tested showed persistent behaviour, while most of the individual stocks also showed evidence on persistence. The variance ratios were significant under heteroscedasticity in most of the cases where it was significant under homoscedasticity assumption. This implies that heteroscedasticity does not play a major role in the Indian market.
BOT Road Infrastructure Projects: Process, Problems, and Suggestions
Authors: Parikh Nayan C , Samson Rajesh
Published: September 2016

Studies conducted by expert groups have established that the funding requirements for development and maintenance of road infrastructure in India will probably have to be met by private funding. Initial efforts to induce private investors to fund such projects have been based on the concessionaire⁄BOT approach. This article by Nayan Parikh and Rajesh Samson discusses the BOT model, which has been adopted with a few variations and refinements in the infrastructure sector, and puts forth suggestions that may help streamline the implementation of future road BOT projects.
India's Response to the Changing International Telecommunications Environment
Authors: Sinha Sidharth
Published: September 2016

There are fundamental changes taking place in the international telecommunications environment. Most important is the technological revolution of “converged networks” brought about by the development of the internet. Simultaneously, most countries have adopted market liberalization in varying degrees and the General Agreement on Trade in Services (GATS) is opening up domestic markets to international competition. This paper by Sidharth Sinha discusses the implication of these changes for India and suggests that VSNL should be given complete autonomy, subject to regulation by the Telecom Regulatory Authority of India (TRAI), for determining the technology and tariffs for international telecommunication as well as negotiating settlement rates with foreign carriers and interconnection charges with the Department of Telecommunications (DoT).
Let Customers Determine Performance Bonus
Authors: Kakati M
Published: September 2016

This paper by Kakati asserts that customer satisfaction should be the primary driver and measure of employees' performance and hence there is need for linking performance bonus to the customer satisfaction index. Subsequently, it explores theoretical and practical issues regarding the measurement of customer satisfaction and presents three alternative models (linear, conjunctive, and disjunctive) for measuring overall customer satisfaction level. Further, it provides an ideal bonus plan that ties up bonus to the index of customer satisfaction and payoff matrix. Finally, it presents a case study in a hospital industry where a similar bonus plan has been very recently put into operation.
Motivation and Outcome of Malaysian Takeovers: An International Perspective
Authors: Ali Ruhani , Gupta G.S.
Published: September 2016

This paper examines the potential motives and effects of corporate takeovers that occurred in Malaysia during the period 1980 through 1993. The Mueller's methodology, which has been adopted for Australia, USA, UK, and five European countries, is employed in order to provide an analysis of the Malaysian takeovers on an international perspective. The findings indicate that the Malaysian takeovers were motivated by size, growth, and profit considerations, and supported by the desire of having a balanced leverage, thus favouring the eclectic theory of takeovers. In terms of the outcomes, the paper finds that the acquiring firms have achieved larger size at the expense of reduced profits both for themselves and the acquired firms. In contrast to other countries, the bidder firms in Malaysia, in general, have lower profitability, higher risk, and lower leverage vis-a-vis the control bidder firms. Also, in Malaysia, the target firms have significantly better pre-takeover growth and profit performance than the control target firms, which is quite the opposite in other countries.
Corporate Governance: The Key Issues
Authors: Murthy N R Narayana
Published: September 2016

In the new environmental context, corporate governance is no longer a luxury but a necessity. There is a gap between precept and practice of corporate governance. While we have enough examples of inadequate corporate governance, we do not have many examples of good corporate governance. Feudal mind-set, manifold regulations, lack of concern for society, a sense of insecurity, and greed are some of the reasons for this. We need to do something to bridge the gap. In this context, this perspective looks at the key issues in corporate governance.
Supply Chain Strategies for Small Firms Facing High Demand Uncertainty and Seasonality
Authors: Sastry Trilochan
Published: September 2016

Several innovations in operations strategy and supply chain management have taken place, including outsourcing, postponement, quick response and so on. However, research has focused on the large firm's perspective. This paper looks at the issues from the small supplier firm's perspective. Faced with high demand uncertainty, low margins, and very high working capital requirements, such firms are unable to fully take advantage of market opportunities. Studies of small firms often take a financial or economic perspective focusing on policy or the behaviour of small clusters, and emphasize the role of networks and the diffusion of practices and technology. This paper focuses on this issue from an operations perspective, and discusses five stages in the evolution of small firms that could help them to grow and gain higher margins. The main idea is that by designing operations and the supply chain better, and by improving production practices, small firms can simultaneously handle uncertainty, overcome problems of working capital, meet market needs, and command higher prices.
The Position of Women in the Repayment of Agriculture Loans in Nigeria: An Analysis
Authors: Arene C J , Aneke G C
Published: September 2016

The study attempts to assess the credit system within the framework of the Supervised Agricultural Credit Scheme (SACS) in Enugu State of Nigeria. The emphasis is on repayment position and technical aid to female farmers. The results show that high repayment rate farmers had a larger loan size, larger farm size, higher gross income, shorter distance between home and source of loan, higher leve l of formal education, larger household size, and higher level of adoption of innovations than low repayment rate farmers. Detailed statistical analysis reveals that the number of farm visits is significantly related to the farmers' gross income while number of farmers supervised, length of service as supervisors, and level of formal training in agriculture account for less. Loan programmes for female farmers are of great importance for the development of agriculture. Their efficiency is, however, considerably determined by good quantitative and qualitative supervision and advi sory service.
A Study of Patient Satisfaction in Outdoor Services of Private Health Care Facilities
Authors: Sharma R D , Chahal Hardeep
Published: September 2016

The concept of patient satisfaction has encouraged the adoption of marketing culture in service sector including health care services. This article reports the findings of a survey aimed at understanding the extent of patient satisfaction with diagnostic services. It has constructed a special instrument for measuring patient satisfaction. The instrument captures the behaviour of doctors and medical assistants, quality of administration, and atmospherics. The role of demographic characteristics like gender, occupation, education, and income is also considered. Based on the findings, the article suggests strategic actions for meeting the needs of the patients of private health care sector more effectively.
Transforming Organizations — The Tata Steel Experience
Authors: Irani Jamshed J
Published: September 2016

With| India's liberalization initiatives in 1991, the Indian companies were faced with the challenge of responding to the demands of the consumer. It was around the same time that Dr Jamshed J Irani took over as the Managing Director of Tata' Steel. In his perspective on the theme of 'Transformation of Organizations,' Dr Irani discusses the major initiatives undertaken at Tata Steel to respond to the challenge and make it aa internationally acclaimed company.
Harnessing Customers9 Transaction Data for Efficient Operations: A Case of Debt Collections in the Consumer Finance Industry
Authors: Banerjee Arindam
Published: September 2016

With the burgeoning financial services industry in India, service providers increasingly face the risk of their loans becoming bad and consequently leading to a charge-off loss as indicated by the accumulation of non-performing assets. Efficient back-end operations, based on a systematic analysis of customer characteristics, can ameliorate the situation. This paper describes the process of designing such an efficient back-end process developed by the author at a large retail bank in the United States. It also discusses the scope and limitations of extending the applicability of the model to the Indian financial sector and provides learnings for managers in the financial service sector on efficient design of their debt collection processes.
Precious Shipping Public Company Limited
Authors: Raghuram G.
Published: September 2016

Precious Shipping Public Company Limited (PSL) went through a process of financial restructuring in response to the economic crisis that hit Thailand in 1997. PSL faced trouble since payments were due in dollars and they had investments in Thai baht, which had devalued during the crisis. Being a professionally managed company with a high level of transparency in their transactions, they came out of the situation by managing to restructure their secured and unsecured debts. A large part of the unsecured debt proved a little more complex since it was tied to a swap. The case describes the financial restructuring process and the business scenario during the crisis, and provides an opportunity for learning about financial risk management.

Readers are invited to send their responses on the case to Vikalpa Office.
Responding to Green Concerns: The Roles for Government and Business
Authors: Das Jitendra Kumar
Published: September 2016

This perspective delineates the role the government and the business organizations play in mobilizing concerns emanating from environmental pollution and suggests measures to mitigate the same. It opines that to catalyse the acceptance of green products, the government and the business sector have to work in tandem. It suggests that the government, central and state, quasi-government bodies and other local institutions should take the initiative to preferentially buy products with the “Ecomark”-the mark for environment-friendly products. A company taking strategic decisions to project itself as a green company would be able to differentiate itself from competitors in a highly competitive market. It draws on the marketing strategy model and proposes that environmental issues be viewed as social cause while keeping business principles of ‘for-profit organization.’
Ethical Issues at Work: A Comparative Study between UK and Indian Managers
Authors: Sanghi Seema
Published: September 2016

The objective of the paper is to study ethical stances taken by Indian managers on issues related to redundancy and to compare them with those of UK. The responses of Indian and UK managers to ethical issues are assessed using a research instrument called ‘Redundancy’ against eight ethical stances. The findings suggest that Indian managers in comparison to UK managers take ethical puzzle stance less frequently when responding to ethical issues at work. The UK managers tend to look at the issue with a systematic approach collecting enough data for identifying the most suitable answer whereas the Indian managers experience a tension between their ethical beliefs and those they are required to apply at work. Nevertheless, Indian managers show important ethical considerations from family and other social connections.
Market Analysis Based on an Entropy Measure for the Degree of Competition
Authors: Roy Dilip , Lahiri Isita
Published: September 2016

In view of the growing importance of marketing, there is a need to measure the degree of market competition for analysing strategic advantage. The need for such a measure can also be felt for categorizing the market structure for the usage of market theories in a real life situation. To meet these above-mentioned needs, the present note proposes three desiderata for a good measure for the degree of market competition. Further, one measure, based on the concept of entropy, has been proposed which makes use of market share vector. It also examines the suitability of the proposed measure in meeting the desiderata. A case study has a1so been carried out, covering two white good items, to demonstrate the applicability of the suggested procedure for market categorization.
New Trends in Sensitivity Training in Organizations
Authors: Parikh Indira J , Jeyavelu S
Published: September 2016

Sensitivity Training (ST) is a process through which an individual explores the journey of human existence to ask some basic questions about life, relationships, interface across many roles, and purpose of one's own life. ST has many forms; each form has its own philosophies. This paper traces the historical roots of ST in the West and the developments and innovations in its applications in India. The Indian and Western forms of ST differ in the content, process, and the underlying philosophies. This paper compares the two perspectives of ST with the differences in application in organizations. The Role and Identity Approach (RIA) can be applied in organizations through unstructured sensitivity training labs, semi-structured labs, and structured workshops. Unstructured labs are those that are called as personal growth labs, explorations in roles and identity, interpersonal labs and so on. Semi-structured labs include interface labs, leadership labs, self-renewal labs, and visioning and co-creating labs. Structured workshops address managerial and leadership roles, team building and building a cross-functional team, integrating emotional intelligence across multiple roles and systems, managing cross-cultural diversity, interpersonal and group dynamics, and dynamic equilibrium between personal and professional lives.
Corporate Finance Practices in India: A Survey
Authors: Anand Manoj
Published: September 2016

The present study surveys 81 CFOs of India to find out about their corporate finance practices vis-a-vis capital budgeting decisions, cost of capital, capital structure, and dividend policy decisions. It analyses the responses by the firm characteristics like firm size, profitability, leverage, P/E ratio, CFO's education, and the sector. The analysis reveals that practitioners do use the basic corporate finance tools that the professional institutes and business schools have taught for years to a great extent. The study also reveals that the corporate finance practices vary with firm size.
Organizational Environment and Information Systems
Authors: Malik Kamna , Goyal D P
Published: September 2016

The convergence of information technologies has opened new vistas of opportunities as well as risks for organizations. Organization structure, controls, and management have all witnessed a sea change with their information systems (IS) becoming technology driven. IS is seen as a strategic tool that must be watched carefully in order to lead to corporate vision. For the first users, IS may bring competitive advantage but, for most, it becomes a need for survival. To sustain in this dynamic environment, executives need to be on all- time-alert to make sure that they do not lag behind competition. A study of best-run organizations indicates that to keep business and IS aligned, they have highly collaborative behaviour as well as well-defined policy for evaluating IS.

This paper suggests an ACE Model – a 3-ring model, comprising of processes to (A)dapt, (C)ollaborate and (E)valuate, in order to establish and evaluate organizational effectiveness for improved IS effectiveness in the organizations. At the core is the need to cultivate a culture to adapt the latest tools and techniques for higher end use. Next, the people must collaborate and work in teams for faster and beneficial plans and implementation. Finally, a well-defined process for constant monitoring and refinements of the plans is required. The rings signify continuity of the three processes. These processes should not be triggered at specific intervals. Rather, these must be imbibed in the culture of the organization so that the employees breathe in and breathe out the same thoughts and execute them together. The model offers a simple, flexible, and modular approach to assess organization's environment for IS effectiveness on a 5-point scale.

This paper highlights the following issues: There is a need for IS evaluation vis-a-vis organizational environment. In order to realize value from IT, it is worthwhile to analyse and ensure an effective environment in the organization that is conducive to change of technology and systems. This can ensure alignment of organization, its purpose, employees, functions, and stakeholders. Irrespective of the technologies in use, organizational evaluation process must be an indicator of contribution of IS towards growth or sustenance of business though the opponents of IS evaluation may like to conclude this as infeasible on the ground that IS benefits are largely intangible and hence unquantifiable. The findings of this study can help the business organizations in identifying and improving the environment for cultivating IS in their organizations. It is recommended to have more software tools for decision-making and information analysis so that the spending on IT can be utilized better. Decision makers can deploy the suggested model on their intranets to keep a constant watch on the culture of the organization and act accordingly in order to keep the effectiveness index to the highest level.