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Conference Souvenir 2012 Conference Souvenir 2012 Presentation Transcript

  • JAIPURIA 100 Years of Excellence Sec-14-C,Vasundhara, Ghaziabad - 201 012 Ph: 0120-4550100, Fax: 0120-2882804 Jaipuria Institute of Management www.jaipuria.net (Approved by All India Council for Technical Education and Affiliated to Mahamaya Technical University, Noida) Jaipuria Institute of Management Ghaziabad JAIPURIA 100 Years of Excellence JaipuriaGroup of Management Institutions: Jaipuria Group of Management Institutions (JGMI) have established themselves as leading management institutes in northern India, comprising Jaipuria Institute of Management (JIM), Jaipuria Institute of Management Studies (JIMS) and JaipuriaInstitute (JI) Jaipuria Institute of Management (JIM) conducts a well established Mahamaya Technical University approved MBA programme. Jaipuria Institute of Management Studies (JIMS) was set up in the year 2008 and runs a Post Graduate Diploma in Management (PGDM), a two year full time programme approved by AICTE. Jaipuria Institute (JI) has been conducting BBA programme affiliated to CCS University since 2004. JGMI has developed a NEW VISION, it aims to become a Fully Integrated, Socially Responsible Group of Management Institutions, of National Reckoning, by Meeting the Growing and Emerging needs of industry and business through Teaching, Training, Research and Consulting in the field of Management, Directly (BBA/MBA/ PGDM/MDP/Consulting) and Indirectly (FDP/Literature Development/Research/Conference). The Group has thus initiated meaningful Conferences, Faculty Development Programmes and Management DevelopmentProgrammesunderthe NEWVISION. Jaipuria Group of Management Institutions in Vasundhara and the NEW campus at Indirapuram, Ghaziabad aims to provide quality management education to transform individuals into Business Leaders, Skilled Managers and Entrepreneurs. Challenges of Managing Sustenance & Growth in the Era of Economic Downturns National Conference on 20th April, 2012
  • Contents National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence Messages Abstract 1. Does Experience Matter in the Cross Border Mergers and Acquisitions? 2. Does Debt risk Transferable? Contracts and Earnouts in M&A Dialogue 3. Challenges of Micro Finance Institutes and its impact in Economic Development of Assam: an Impact study of SHGs in Assam 4. Global Economic Downturn And Its Impact On Indian Economy 5. Managing a Business in Turbulent Times Impact of Economic Meltdown- the Challenges for India 6. Liberalized FDI policy & its contribution to GDP growth in India: A sectoral analysis of top 10 sectors 7. Restaurant Industry: Growing concern about Sustainability insights 8. Disinvestment Policy in the Context of Globalization 9. FDI in Retail Sector : Challenges or Opportunities 10. Sustainability quotient of Indian economy - challenges and imperatives 11. Sustanibility and Growth in Indian Tourism Industry for Economic Development 12. Impact of Greek Debt Crisis on Indian Economy and Indian Financial Markets 13. NPA Management by the Indian Banking Sector in the Turbulent Economic Environment 14. Challenges in Managing Healthcare Delivery System in the Era of Economic Downturn 15. Sustaining Growth through Management Education in INDIA 16. SWAPS: Effective Tool For Risk Management in Economic Downturn 17. Indian Economical Status and Its Impact on Slowdown IT Industry: An Information Revolution 18. Managing Generation Mix: Challenges and Prospects 19. Pension Sector Reforms and Economic Growth Special Reference to India 20. Challenges of IT in managing and controlling the business in this era of economic downturn 21. Skill Challenges of Sustenance and Growth in Economic Downturn 22. TV Broadcasting and Economic down turn – Research study on talent management as a global key for sustenance. 23. Internet Marketing : An effective way of marketing in these challenging times. Jaipuria Institute of Management was set up by Seth Anandram Jaipuria Education Society in 2001. It has sprawling campus spread over 5.5 acres on Delhi-Meerut link road within NCR. During this short span of 10 years, under the able guidance of the President, Dr.Rajaram Jaipuria, JIM, is being acclaimedasaleadingbusinessschoolinNorthernIndia. Jaipuria Institute of Management, Ghaziabad, was established by fulfilling all the norms regarding academic, financial and social aspects set by concerned statutory bodies. The Institute started a full time 2 years master degree course in Business Administration (MBA), from the academic session 2001. The course is duly approved by AICTE, Ministry of HRD (Govt. of India) and affiliatedtoMahamayaTechnicalUniversity,Noida(UP). About Jaipuria Institute of Management Dr. Partho P. Kar Member, Board of Governors, IIM, Lucknow Dr. Krishna Kumar Former Director & Professor, IIM, Kozhikode Dr. Sharad K. Goel Director, Jaipuria Institute of Management Studies Prof. Nikhil Garg Director, Jaipuria Institute Dr. Y. P. Singh Ex-Dean, Faculty of Commerce, Delhi University Dr. Daviender Narang Director Jaipuria Institute of Management, Ghaziabad Organizing Secretary Dr. S. P. Singh Dean, FMS, Gurukula Kangri Vishwavidyalaya Haridwar Dr. Somesh Kumar Shukla Faculty of Commerce, University of Lucknow Dr. Ashok Mittal Chairman, Department of Economics Aligarh Muslim University Prof. Neera Verma Chairperson, Department of Economics Kurukshetra University Advisory Committee Conveners Mr. Ajay Tripathi Jaipuria Institute of Management Ghaziabad Chief Patron Dr. Rajaram Jaipuria President Jaipuria Group of Management Institutions Patron Shri Shishir Jaipuria Vice President Jaipuria Group of Management Institutions Organizing Committee Dr. Ashwani Varshney Jaipuria Institute of Management Ghaziabad Ms. Najaf Shan Jaipuria Institute of Management Ghaziabad Administration Dr. Anil Kumar Gupta Deputy Director (Administration) Jaipuria Group of Management 1-13 14 14 15 16 17 18 18 19 19 20 21 22 23 24 25 25 26 27 27 28 28 28 29
  • National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence 24. 25. The Importance of Organisational Climate in Project Management 26. Impacts of Soft Skills on e-Government Projects’ Success 27. Changing Role of HRM Practitioners in Era of Economic Downturn 28. Sustenance of India’s Export with Related Measures 29. Studying the present status of Islamic banking worldwide and its SWOT analysis to find out, its future potential in India 30. Corporate Entrepreneurship: A Winning Tool in the Continuing Global Economic Crisis 31. Service Loyalty and its Relationship with Service Quality: Implications for Service Marketers 32. The Critical Need for Succession Planning In Economic Downturn 33. Recognizing the Opportunities of Language without which India May miss the Globalization Bus 34. The Role of Corporate Brand Identity during an Economic Crisis 35. Managing Organisational Changes and McKinsey’s 7 S model 36. Retailing in India-A way to Growth of Organized Retailing in Emerging Economies: Challenges and Opportunities 37. Overcoming the Challenges of Managing Sustenance and Growth in the Era of Economic Downturns with the help of youth marketing strategies in India 38. Relationship of collaboration – A Pragmatic Study of Economic activities 39. Analysis of Arbitrage strategies by formulizing of Market Timing 40. Impact of Micro Finance on Women & Children With Special Reference To India & Bangladesh 41. Measuring Entrepreneurship in Developing Countries 42. A Study of Viral marketing 43. Indian Banking System: Comparative Study of Past and Present scenario 44. Employee Retention through Strategic Human Resource Management 45. How To Survive in Slowdown Storm ? 46. Empirical Analysis of CAPM and APT models in FMCG companies listed in BSE Stock exchange 47. Revival Of The Piigs Countries from the Era of Economic Downturn 48. Challenges to Maintain Economic Growth During the Recession Employee retention challenge in the ICT Public Sector in Mauritius 49. 50. Application of the Sharpe’s Single Index Model for Optimal Portfolio Construction 51. Sustainability of Turnaround for Achieving Consistency in Operational Efficiency: A Study of Indian Railways 52. Making Sense of Corporate Social Responsibility: Issues and Challenges in Indian Perspective 53. Understanding Eurozone Crisis & Its Impact on Indian Exports 54. Glocalisation-Success Mantra of Globalisation 55. Managing the Sales Workforce Diversity 56. An Empirical Study on Role of Demographic Factors on Stress Affecting Employee Motivational Level 57. Management of Foreign Exchange Risk in the emerging market of India- A study of Brassware market of Moradabad & Rampur 58. Becoming an Entrepreneur by Outsourcing: A Case Study of Aligarh’s Locks & Hardware Industry 59. Constructive Development, Self monitoring and correcting workplace deviances –An insight during Downturn 60. Concept of J.N.D: A boon for FMCG Marketers 61. Sustainable Development and Education in a Globalized Environment: A perspective 62. An Eye upon an aviation sector in India With special reference of “Kingfisher Airlines” 63. M&A Growth Strategy Creates Value for the Organizations: A Study of Bank of Rajasthan Merging with ICICI Bank 64. Reasons for Corporate Governance Failures 65. Cloud Computing for SMEs in Indian Context 66. Causes Of Recessionary Job Stress 67. Role of Technology in managing sustain financial growth-A study on media selection preferences by bank customers 68. Sustaining Growth through Management Education in INDIA: The changing face of management education & challenges for tomorrow 69. Impact of IT Integration in Managing the Growth of MSMEs in Downturns 70. Managing Talent for Sustainable Competitive Advantage 71. Green Information Technology -a Strategy For Socially Responsible Software Companies GDP Growth and Challenges of Managing Sustenance 44 44 45 45 46 47 47 49 49 50 50 51 51 52 52 53 53 54 54 55 55 56 56 29 30 30 31 31 31 32 33 33 34 34 35 35 37 38 38 39 39 40 40 41 41 43 43 43
  • National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence 72. Accompany Inclusion 73. Impact of Global Crisis on Finance Theory 74. Impact of Economic Downturn on Indian Retail Industry: Challenges, Opportunities and Outlook 75. Issues and Challenges of Managing Organisational Cultural Change with the New Business Environment of India 76. Mobile Enterprise Resource Planning : Success Or Failure A Research Agenda 77. Environmental Protection : The Responsibility Of Growth (A Study Of Environment Safety Policies At Petronet LNG Ltd) 78. Cluster Supply Chain- Case Study Innovative Solution Towards Sustainable Development:Financial Literacy Should 57 57 57 58 59 59 60 05 Messages It gives me immense pleasure to know that Jaipuria Institute of Management is organizing a one day National Conference on "Challenges of Managing Sustenance Growth in the Era of Economic Downturns" at Ghaziabad on 20thApril, 2012 and a Souvenir is also beingpublishedtoearmarktheevent. India has always been on an upfront in intellectual capital even during the recent global turmoil since 2007. The credit for such resistance to domestic and global economic pressure goes to the valiant efforts made by professionals from Industry and academics who havealwayscohesivelyprovidedanewoutlooktotheNationintoughtimes. Jaipuria Institute of Management has taken an initiative to provide a Juncture where individual efforts may be unified and today's youth brigade of budding managers may be enlightenedandstreamlinedwithglobalcounterparts. On this occasion, I highly appreciate the management and organizers of the institute fortheirearnesteffortsandextendmybestwishes forsuccessfulConferenceandSouvenir. Yours Sincerely, (SRIPRAKASH JAISWAL) SRIPRAKASH JAISWAL Jhizdk’ktk;loky M E S S A G E Room No. 353, 'A' Wing, Shastri Bhavan, New Delhi-110001, Tel.: 011-23384498, 23385946, 23389132, Fax: 011-23386219 Camp Office: 480, Pokharpur, Lal Bangla Cantt, Kanpur (U.P.). Tel: 0512-2450686, 2450851, Fax: 0512-2450776 Dated : 6th April, 2012 National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence dks;ykea=h Hkkjrljdkj ’kkL=hHkou]ubZfnYyh&110001 MINISTER OF COAL GOVERNMENT OF INDIA SHASTRI BHAVAN, NEW DELHI-110001
  • 07 Messages Messages 06 It is a pleasure to know that Jaipuria Institute of Management, Ghaziabad is organizing a one day National Conference on "Challenges of Managing Sustenance and Growth in the Era of Economic Downturn" on 20th April, 2012 and also bringing out a souvenir on this occasion. The topic being of global relevance and highly topical hence the deliberation should be brought out in the form of proceedings if possible. I am sure the contents of this souvenir will be selected so as to provide useful information and a variety of reading material for the students and staff. I wish the editorial team a great success and congratulate the management, administration,staffandstudentsforthisendeavor. Withbestwishes, (Prof. S.K. Kak) Vice-Chancellor National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence The Jaipuria Group has been a major force in the establishment of establishing reputable centres for management studies. This effort has made a significant contribution to enriching knowledge, skills and general awareness. I am happy to learn that the Jaipuria Group of Management Institutions is organizing a one-day National Conference on "Challenges of Managing Sustenance and Growth in the Era of Economic Downturn" on Friday, 20th April 2012. I am sure that the deliberation at this Conference will throw more light on the various aspects that underlie the growth dynamics, as well as the international contexts, and bottlenecks that need to be cleared in the domestic arena in order to realize the full potential of the Indian Economy. (Saumitra Chaudhuri) M E S S A G E lnL; ;kstukvk;ksx ;kstukHkou ubZfnYyh&110001 MEMBER PLANNING COMMISSION YOJANA BHAWAN NEW DELHI-110 001 lkSfe=pkS/kqjh SAUMITRA CHAUDHURI egkek;kizkfof/kdfo’ofo|ky; Mahamaya Technical University C-22, Sector-62, Noida, G.B. Nagar (U.P.) - 201301 Ph:0120-2472706, Fax: 0120-2400418Prof. S.K. Kak Vice-Chancellor Dated: 16th January, 2012No: MTU/Noida/VC/2012/109 M E S S A G E
  • 09 Messages Messages 08 I am delighted to know that Jaipuria Institute of Management, Ghaziabad is organizing a National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturn on 20thApril, 2012 and on this occasion is bringing out a Souvenir. The theme of the conference is very appropriate. I hope that this conference will provide a common platform for academicians, researchers and industrialists to share their knowledge and experience about all aspects of challenges of managing sustenance and growth in the era of economic downturn. I trust that the souvenir will prove to be an effective instrument to present the vision of the conference and the conference will be successful in achieving its objectives. I congratulate the organizers and the team for organizing the event and related publications and wish for its success. (Kripa Shanker) M E S S A G E Date : 20.01.2012 I am happy to know that the Jaipuria Institute of Management, Ghaziabad will be organizing one day National Conference on "Challenges of Managing Sustenance and Growth in the Era of Economic Downturn" on April 20, 2012 and publishing a Souvenir on this occasion. I send my best wishes and greetings to the organizers and all the participants and extend my full support and convey my best wishes for the successful publication of the Souvenir. (Professor Sukhadeo Thorat) F.NO.PS/CH/ICSSR/2012 Dated: 20.03.2012 M E S S A G E National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence xkSrecq)izkfof/kdfo’ofo|ky; ¼iwoZorhZ mRrjizns’kizkfof/kdfo’ofo|ky;½ GAUTAM BUDDH TECHNICAL UNIVERSITY (Formerly Uttar Pradesh Technical University) vkbZ-bZ-Vh-ifjlj]lhrkiqjjksM]y[kuÅ&226021¼m0iz0½Hkkjr I.E.T. Campus, Sitapur Road, Lucknow - 226021 (U.P.) India Phone Fax E-mail URL : : : : : + 91-522-2732194 (O) + 91-522-2731631 (R) + 91-522-2732189 vc@uptu.ac.in www.uptu.ac.in, www.uptu.nic.in izks0d‘ik’kadj dqyifr Prof. Kripa Shanker Ph.D. (Cornell) Vice Chancellor INDIAN COUNCIL OF SOCIAL SCIENCE RESEARCH (Ministry of Human Resource Development) JNU Institutional Area, Aruna Asaf Ali Marg New Delhi-110067 Tel: 91-11-26741679 (O), Fax: 26741863, 26742109 Email: Chairman@icssr.org, Website: www.icssr.org Hkkjrh;lkekftdfoKkuvuqla/kkuifj’kn~ ¼ekuolalk/kufodklea=kky;½ ts-,u-;w-baLVhV~;w"uy,fj;k]v:.kkvklQvyhekxZ] ubZfnYyh&110067
  • I am glad to know that the Jaipuria Institute of Management,Vasundhara, Ghaziabad is organizing one-day National conference on "Challenges of Managing Sustenance and Growth in the Era of Economic Downturn" onApril 20, 2012. I congratulate the organizers for holding a conference on such an important issue and hope that the deliberations in the conference will help the students to have a better perspective of the present state of economy and the steps to be taken for overall improvement of Economy in general and Services & Manufacturing sectors inparticularforgeneratingemploymentandlivelihoodsforskilledmanpower. I wish all success of the conference and a bright future of MBA students studying in JaipuriaInstituteofManagement,Vasundhara,Ghaziabad. Withwarmregards, Yours Sincerely, (Dr. B.K. SHARMA M E S S A G E 11 Messages Messages 10 D.O. No. fnuakd% Dated: 02.03.2012 S.K. Tomer President Noida Management Association M E S S A G E I am happy to learn that Jaipuria Institute of Management is organizing a National conference on "challenges of Managing Sustenance and Growth in EraofEconomicDownturns" on 20thApril2012. The topic of the conference is a key issue being addressed nationally at all platforms.TheIndian Economy has succeeded in achieving a high average growth rate since liberalization. However, the biggest challenge is not sustaining growth but managing growth. It is under this backdrop, that companies are re-inventing their strategies whether to grow organically or proceed with in organic growth. During the conference vital subjects are likely to be discussed and deliberated such as challenges of industries and society at large, Human Resource as an assetandgovernanceinthechangingEnvironment. I wish to congratulate the Jaipuria Institute of Management on the topical theme, wide reach and popularity of this excellent event and my best wishes for asuccessfulconference. S.K.Tomer President (Affiliated to All India Management Association) C-20/6A, Institutional Area, Sector-62, Noida, 201301 www.nmanoida.org, e-mail info@nmanoida.org, Telefax: 0120-2401305, 6494413 National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence Dr. B.K. SHARMA DIRECTOR & CHIEF REGISTRAR (BIRTHS & DEATHS) funs’kd,oaeq[;jftLVªkj ¼tUe,oae‘R;q½ GOVT. OF NATIONAL CAPITAL TERRITORY OF DELHI DIRECTORATE OF ECONOMICS & STATISTICS 'B' Wing' 3rd Floor, Vikas Bhawan-II, Near Metcalf House Upper Bela Road, Delhi - 110054 Tel. No. 23812841 Fax No. 23812851 E-mail : dires@nic.in Website : www.delhi.gov.in
  • 13 Messages Messages 12 The global economic slowdown and current turbulence in the developed countries of Europe and America has been a serious concern to us. In addition to this political instability and social unrest which has plagued the Gulf countries in the last few years has raised many questions. With this backdrop, it becomes relevant that economists, policy makers and researchers come together and brainstorm the issue and find a suitable solution for putting back the world economy to the path of growth and prosperity. I am glad to know that a one day national conference on “Challenges of Managing Sustenance and Growth in the era of Economic Downturns” is being organized by Jaipuria Institute of Management. I hope by the end of this conference, certain concrete strategies will come out which will provide directions to mitigate this enormous challengewhichtheworldisfacing. Jaipuria Group has been in the forefront of education and has a strong history that spans industry, education and social services. The group has been taking significant initiatives to promote quality education and provide inclusive growth to all the stakeholders. On behalf of the Jaipuria Group, I welcome all the delegates and scholars to this conference. ShishirJaipuria VicePresident M E S S A G E Date : 14th April, 2012 JAIPURIA GROUP OF MANAGEMENT INSTITUTIONS Campus: Sector-14C, Vasundhara, Ghaziabad-201 012 (U.P.) Tel: 0120-4156525-27 Fax: 0120-2882804 E-mail: shishir@jaipuria.net Website: www.jaipuria.netJAIPURIA 100 Years of Excellence M E S S A G E The greatest challenge to the world economy since the Great Depression, as global output was declining, trade flows drying up and jobs vanishing around the world. The economic downturn has also made the economy more diffident about the virtues of globalization.We know that globalization can also have a repulsive side if it is not dealt with judiciously. The depth and magnitude is such that no economy is immune from it. All the developed and developing economies are experiencing the most severe economic pandemic since then. Collective and far-reaching action is needed to find the rightapproachso thatsustainedandinclusivegrowthcanbeachieved. With the same vision and zeal we at Jaipuria Institute of Management are organizing a one day National Conference on 20th April 2012, on "Challenges of Managing Sustenance and Growth in the Era of Economic Downturns". We hope that through this common platform, eminent scholars, academicians and veterans from industry shall be abletosharetheirvisionandprovideaninsightontheburningissue. We open heartedly welcome all the delegates to this Conference and hope that this will beaprofessionallyrewardingexperiencefor all. Withallmybestwishes tomakethisConferenceamilestoneofachievement. Prof. (Dr.) Daviender Narang Organizing Secretary(Conference) National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence JAIPURIA INSTITUTE OF MANAGEMENT Sector-14C, Vasundhara, Ghaziabad-201 012 (U.P.) E-mail: directorjim@jaipuria.net JAIPURIA 100 Years of Excellence Dr. Daviender Narang M.B.E., M.F.C., Ph.D Director Ph: 0120-4550100 Fax: 0120-2882804 Mobile: 9560050000
  • 1514 ABSTRACTS Using the data on cross border mergers and acquisitions by US firms, in this paper we investigate if prior experience in acquisitions is helpful for the acquirers in making subsequent acquisitions. Our sample contains all completed cross border mergers and acquisitions by publicly traded US firms from 2003 to 2009 where acquiring firm gains control of either public, private or subsidiary targets locate in either a developed or a developing country. We compute the three day cumulative abnormalreturnfortheUSacquirersaroundtheannouncementdatereportedintheSDCPlatinumdatabase.Wefindthatwhen aUSfirmacquiresaprivateorsubsidiaryinternationaltarget,theshareholdersoftheacquiringfirmexperiencesignificantlosses but when the target is a public firm, the deal creates value for the acquiring firm shareholders. Univariate results suggest that unlike deals involving targets in developed countries, when US firms acquire public or private targets in developing countries, acquisition experience is an important factor. Our cross sectional regression result confirms that past experience does not influencethe USfirmswhen theyacquiretargets from the developedcountries.Wefind thatpast experiencematters only when the US firm acquires private targets from the developing countries, experience does not influence the acquisition of public or subsidiarytargetsfromdevelopingcountries. Does Experience Matter in the Cross Border Mergers and Acquisitions? Ann Marie Hibberd College of Business & Economics West Virginia University Morgantown Edward R Lawrence Department of Finance College of Business Administration, Florida International University, Florida Krishnan Dandapani Department of Finance College of Business Administration, Florida International University, Florida Global firms are designing tactics to become corporate raider by choosing merger & acquisition (M&A) as a synergistic choice (Machiraju, 2007; Ray, 2010). M&A is an opportunity for target firm shareholders in a high premium, on the other hand escalating monopoly by an acquirer in the respective market. In recent years, most of the deals get completed because of financer availability thus both investment bankers and private equity firms. However, if deal has completed by transferring heavy-debt from target firm to acquirer that causes negative shareholders’ market returns (Kasparova, 2007; Schlingemann, 2004). Further, acquirer has to bear target firm’s debt consequently it would affect on capital structure, interest payments and firmfreecashflows.Inthewesterncapitalmarkets,acquirerhastwostrategicfinancingoptionsnamelyContractsandEarnouts. This paper aims to discuss the importance of these riskless debt alternatives in M&A literature. Exclusively, we present illustrations to gauge the synergy benefits attached with these models. Thereafter, we discuss possible implications to impart and motivate Indian bankers in strengthening and cheering M&A market. Strategically, this leads toinitiate an entrepreneurship activity thatencouragesyoung leaders toparticipate in such deals. The term M&A are often confused or used interchangeably by the business media. A merger typically refers that two companies coming together to become one (Machiraju, 2007; Sherman, 1998; Srinivasan & Mishra, 2007). Merger, acquisition and diversification have become in touch-pads of greater importance in the global business arena. Further, corporate restructuring refers to the change in ownership, business mix, asset mix and alliances to enhance the shareholder‘s value (Kumar & Rajib, 2007; Pandey, 2009; Ramakrishnan, 2010). Leveraged buyouts (LBOs) are the next wave after the end of conglomerate mergers in 1980s. In a LBO transaction, debt financing typically represents 50 per cent or more of the purchase price. The debt is secured by the assets of an acquired firm find typically amortized over a period of less than ten years (Kasparova, 2007). The debt is scheduled to be paid off as operations generated Does Debt risk Transferable? Contracts and Earnouts in M&A Dialogue K. Srinivasa Reddy Doctoral Scholar (Ph.D) Department of Management Studies Indian Institute of Technology, Roorkee Dr. V.K. Nangia, Professor Dr. Rajat Agrawal, Assistant Professor Department of Management Studies Indian Institute of Technology, Roorkee National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence funds or from the sale of the assets of the acquired firm. Traditionally in more than 90 per cent of the LBO transactions, the purchase price of an acquisition has been financed with debt and the tangible assets of the target firm that have been used as collateral for the loans. However, the range of options available to a buyer to finance an acquisition ranges from very simple to the very complex. There are common sources in financing an acquisition, which they include seller as a source of financing, debt finance(includesassetbased lending,seniordebt,convertibledebtand subordinateddebt)and equityfinanceincludesventure capital, private placement, strategic investors etc (Machiraju, 2007; Ray, 2010). Particularly, information asymmetry and valuation risk are important determinants of the choice between cash and share exchange offers (Schlingemann, 2004). In this paper,weexaminecontracts and earnouts thatusually negotiated,documented,registered and legalized betweentarget entity, acquirer and banker. These type of financing settings normally occurred in Russian and Japanese market. Since India is a young country in many discoveries, inventions and developments. Internationalization might promises economic growth but associatedrisksareinvolved.Thestudyconcludesthatcontractsandearnoutsfinancingmergermodelswouldbenefitthestates in developing countries as fit framework for government control as well as strategic advantage like inorganic growth opportunities. The size and growth of rural population is a very vital factor to determine the feasibility of economic development of a region. The Census 2011 provisional population total on rural-urban distribution for Assam, 86 per cent of the state's population lives in rural areas, and only 14 per cent are urban residents. The economy of Assam continues to be predominantly agrarian. The dependence of labour force on agriculture and allied activities was nearly 53 percent as per the population census 2001 and is scatteredover27districtsand26312villages.Commercialcapital,i.e.,loansfrombanksorothercreditagencies,isnotgenerally accessible to farmers in Assam. As a result, borrowing from unscrupulous lenders, who are not regulated by the state, at an extremely high interest rate is commonin the state. Although the amountof commercial loan for agricultural purposes was over Rs. 77 billion in 1990-91, most of these loans went to tea gardens. Their main reason for refusing agricultural loan was a lack of necessary collateral, mostly in the form of land. A lack of proper land inheritance documentationand a lack of adequate amount of land (due to land fragmentation) were two main reasons for lack of collateral among many farmers of Assam. Although Integrated Rural Development Programme (IRDP) was designed to assist rural farming, the need remains largely unfulfilled in Assam. As a result, many MFIs are coming to assist these farmers in agricultural and allied services in recent years. The access to micro-finance services (includes basic financial services - small loans, savings accounts, fund transfers and insurance; alongside non-financialservices suchasbusinesstraining,microfinanceassistspeoplelivinginpoverty)isstillnotthatsignificantandneed much better effort in comingyears. Considerable advances were made in the 1990s in the design of NGO-managedprogrammes andpoverty-targetedbankstoincreaseaccesstosmallloansandsavingsfacilities.Ourstudymainlyfocusesongroundimpactof microfinanceintheholisticdevelopmentofAssamandemphasishasbeengiventoidentifythechallengesfacedbytheMFIsand other financial institutes in Assam. We also studied the awareness level among the rural folks about the different micro finance schemes and donors available within the region. The ground difficulties found by a villager in accessing and repayment of credit and the feedback of suggestions given by them for a hassle free credit system also take into consideration while preparing this report. Keywords:EconomicDevelopment,commercialcapital,agrarianeconomy,MFIs,holisticdevelopment,Creditsystem. Challenges of Micro Finance Institutes and its impact in Economic Development of Assam: an Impact study of SHGs in Assam Samir Sarkar Assistant Professor Department of Business Administration Gauhati University, Gauhati Partha Pratim Borah Research Scholar Gauhati University, Gauhati
  • 17 ABSTRACTS 16 ABSTRACTS The world was just recovering from the economic recession of 2008/09 that global economy was again hit by the economic downturn. The current economic downturn has originated from fiscal and financial crisis in Euro Zone countries particularly Portugal, Ireland, Italy, Greece and Spain coupled with credit rating downgrade of United States by Standard & Poor in August 2011. But, the contagion spread to other counties as well. Europe appears to have entered recession, and growth in several major developing countries (Brazil, India, and to a lesser extent Russia, South Africa and Turkey) has slowed. As a result, global growthandworldtradehaveslowedsharply.For2011,GDP(GrossDomesticProduct)growthrateisestimatedat2.7%forworld, 1.6% for high income countries, and 6.0% for developing countries. In 2012, global economy is expected to grow at 2.5%, high- income countries at 1.4% (Euro Area countries at -0.3% and others at 2.1%), and developing countries at 5.4%.1 The GDP of India is likely to grow at 6.9% in the fiscal 2011-12 as compared to growth rate of 8.4% in 2010-11.2 Reflecting the growth slowdown,worldtrade,whichexpandedbyanestimated6.6%in2011,islikelytogrowonly4.7%in2012.1 ResurgenceofmarketconcernsaboutthefiscalsustainabilityinEuroAreacountriesandexposureofbankstostressedsovereign debtledtosharpdeclineincapitalinflowstodevelopingcountriesinsecondhalfof2011.Thegross capitalinflowstodeveloping countries plunged 45% to $170 billion from $309 billion in the like period of 2010.1 Average FDI (Foreign Direct Investment) inflows to India declined to US$ 3.2 billion per month during September-November 2011 from US$ 4.9 billion per month during April-August 2011.3 Reflecting decline in capital flows, developing countries currencies weakened sharply vis-à-vis U.S. dollar in the second half of 2011. Major currencies such as Mexican peso, Indian rupee, South African rand and Brazilian real lost 11% or more in real effective terms. Between end-of-July 2011 and early January 2012, developing country stock markets lost 8.5% of their value. This, combined with the 4.2% drop in high-income countries stock market valuations, has translated into $ 6.5 trillion,or9.5%ofglobalGDPinwealthlosses.1 The impact of financial turmoil since August 2011 has had limited impact on industrial production in the countries outside the high-income Europe. Industrial production in Euro Zone countries declined at 2.2% annualized rate during the three months ending October 2011 and had been declining since June 2011. In contrast, Japanese industry grew at an annualized rate of 6.5% during the same period, boosted by reconstruction spending and bounce-back effects following the Tohoku disaster. Industrial Production in United States grew at a 3.1% annualized rate during the fourth quarter of 2012.6 Industrial growth in remaining high-income countries was at 4.4% during three months ending October 2011. Among developing countries, industrial production in China has grown at 11% annualized rate during three months ending November 2011.1 With the slowdown in demand, both domestic as well as external, Growth (y-o-y) of Index of Industrial Production (IIP) of India moderated to 3.8% during April-November 2011 as compared to 8.4% during the same period of 2010-11. The IIP declined 4.7% in October 2011 beforewitnessingrevivalingrowthof5.9%inNovember2011.3But,IIPgrowthsloweddownto1.8%inDecember2011.5 Unemployment rates in high-income countries have persistently remained at high levels, though there was some improvement in the US where the unemployment rate dropped to a two and half year low of 8.5% in December 2011.3 In Japan, it was 4.5% in November 2011. The unemployment rate in Euro Zone has been above 10% in the third quarter of 2011.4 Economicdownturn is likely to have negative impact on employment growth in India due to lower GDP growth rate and employment elasticity with respecttoGDP. The financial turmoil in Europe has impacted global trade as well. The dollar value of global imports has fallen at an annualized rate of 8% during the three months ending October 2011. Import volumes of both high-income countries and developing countries have declined. The volume of global exports has also declined. The exports of high-income Europe have declined, but thoseofotherhigh-incomecountrieshaveincreased.Theexportsofdevelopingcountrieshavedeclinedatanannualizedrateof 1.2% during the third quarter of 2011 and have continued to decline in November.1 After performing well during the first half of Global Economic Downturn and its Impact On Indian Economy Satyendra Kumar Singh Chief Engineer Saipem India Project Limited, New Delhi National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence 2011, Indian exports decelerated in Q3 of 2011-12. Austerity measures undertaken by the European economies and decline in consumptionexpendituremayfurtherimpactIndia’sexportsinthecomingperiod.3 This paper makes an analysis of factors responsible for the economic downturns; nature of economic downturn in developing countries with special reference toIndia, and high-incomecountries; and the impact on international capital flows, global trade, industrial production, unemployment level, currency exchange rate, stock market value, etc. It also discusses the challenges facing the Indian Government and companies to manage the sustenance and growth in this era of economic downturns. Whereas challenges for the Government are: controlling the fiscal deficit, encouraging the international capital inflow, employment generation, encouraging the investment, infrastructure development, monetary easing, inflation control, tackling the subsidy problem, etc. The challenges for the Indian companies are: finding the alternatives to high income countries particularly Euro Zone countries for trade, finances, etc; managing the currency risk; ensuring the profitability of the foreign subsidiariesparticularly operatingin the countries hit most bythe downturn; sustaining operatingmargins in an environmentof weakerproductprices;fundingtheinvestmentsinviewofhighinterestrates;maintainingthesalesinanenvironmentofweaker demands;etc. The Global financial crisis has its roots in the middle of the year 2007 and it accelerated in 2008. The root cause for the financial crisis is the sub-prime crisis i.e. unbridled lending by major financial institutions. The United States is the biggest consumer of goods produced by the developing countries. Consequently any crisis that has its roots in the USA will have a major impact on India. When GDP was as lowas 4.8% in Sep 08, in order tostimulate the demand in Indian market,Central Bank of India (RBI) had included20000crorerupeesinDec08andhadfurtherraisedrupees3lakhcroreliquidityinthemarketthroughcutsinrates.The cuts in the Repo rates and Reverse Repo rates brought them down to 3.25% & 4.75% respectively. The cash reserve ratio (CRR) wasalsobroughtdownto5%andinterestratesonborrowingswerereduced. The Indian financial system is robust and is not so adversely affected by the Economic Meltdown (as compared to the Western World) primarily because the Financial Reforms have not yet taken place ; thanks to the Left Parties. The impact has not been so severe also because of the tightcontrol mechanism of the Reserve Bank of India, the statutory authorities and most importantly theconservativepoliciesadoptedbythenationalizedbanksasagainsttheprivatebanks.Thispaperdiscussesthekeyissues: • ImpactofeconomicmeltdownontheIndianEconomy • Possibleresponsestothiscrisis • PoliciesofIndianCompaniestosurvivethiscrisis KeyWords:EconomicMeltdown,FinancialCrisis,Profits Managing a Business in Turbulent Times Impact of Economic Meltdown- the Challenges for India Deepali Gargeb Asst. Professor, Department of Business Management Padmshree Dr. D.Y. Patil University, Navi Mumbai Dr R Gopal Director, Dean and Head of Department Department of Business Management Padmshree Dr. D.Y. Patil University, Navi Mumbai
  • 19 ABSTRACTS 18 ABSTRACTS The Decadeof 80`s emergedas a beginningof the high rateof economicgrowth,this tendencyhad continued in the ninetiesand further growth stimulus has occurred in the early 21st century. Developing countries like India need substantial foreign inflows to achieve the required investment to accelerate economic growth and development. India is the third largest economy in the world in PPP terms; it is a preferred destination for foreign direct investment. India`s liberalized FDI policy permits up to a 100% FDI Stake in ventures. Number of changes was approved on FDI policy to remove the cap in most of the sectors like civil aviation, construction development mining etc. In this paper, we examine the various links among foreign direct investment (FDI), Sectoral analysis and economic growth and one-way FDI flows from developed to developing countries. The upward moving growth curve of different sectors contributes to the GDP growth over the past few decades. Today`s India provides highest returnsonFDIthananyothercountryintheworld. Keywords:FDIpolicy,ForeignDirectInvestment,RestrictedsectorsforFDI,Sectoralanalysis. Liberalized FDI policy & its contribution to GDP growth in India: A sectoral analysis of top 10 sectors Anuradha Bharadwaj Assistant Professor Ideal Institute of Technology, Ghaziabad Reena Shukla Assistant Professor Ideal Institute of Technology, Ghaziabad There is a growing awareness that the future sustainability of our society, including maintaining our high standard of living, requires us to take environmental impacts into account along with social and economic considerations. We create wealth by utilizingnaturalresources,yetwehavefrequentlymeasuredourperformanceonlythroughfinancialoutcomes.Now,wearenot only increasingly aware of the need to protect and repair the environment for its own sake, but we appreciate the close relationship between the health of our environment, people and the economy. The Triple Bottom Line-considering the economic,environmentalandsocialaspectsofouractivities-isawayforustostarttorecognizeandvaluetheserelationships. The purpose of this study is to explore the real view of restaurant industry; it is a conceptual paper, exploring into the possible economic model practices in restaurant industry that will help restaurant industry as well as society to move towards sustainability. This paper also tries to explore the barriers in the way of sustainability. Design of the study is exploratory, and sourceofdataisavailablesecondarydataaswellasindepthsurveyofliterature. Keywords:SustainableDevelopment,SustainableDevelopmentPractices,Restaurantindustry,BarrierstoSustainability Restaurant Industry: Growing concern about Sustainability insights Ms. Monica Srivastava Assistant Professor Jaipuria Institute of Management Ghaziabad Dr. Ranjana Pandey Research Scholar Faculty of Management Studies Banaras Hindu University Varanasi National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence One of the greatest advantage of the disinvestment is that it generates non-inflationary funds for the investment in the social and infra-structural sector. The new UFA Government has decided to go with the policy of disinvestment. In the absence of pressure from left parties, the new government is going to disinvest some of the PSUs. According to Pranab Mukherjee “It is our intention to enable the PSUs to benefit from techno-managerial efficiencies and become more competitive in the market. The fund requirements of PSUs are for modernisation and technological upgradation”. Mukherjee said public sector undertakings were the nation’s wealth and part of that should rest in the hands of the people. Accordingly, while retaining at least 51 per cent equity, the government will encourage people’s participation in the divestment programme. For 2009-10, the Government has peggedtherevenueestimatesfromdisinvestmentatRs1,120crore,lowerthantheRs1,165croregarneredin2008-09. For 2009-10, the Government proposes to disinvest a small portion of equity in Rail India Technical and Economic Services Ltd, Cochin Shipyard, Telecommunications Consultants India Ltd, Manganese Core India Ltd, Rashtriya Ispat Nigam Ltd and Satluj Jal VidyutNigamLtd.Thegovernmentshouldsellaminimum10percentstakeinallunlistedpublicsectorenterprisesand“auction” thosethatcan’tberevived,theEconomicSurveysaid,whilerecommendingadisinvestmenttargetofRs25,000croreannually. “RevitalisethedisinvestmentprogrammeandplantogenerateatleastRs25,000croreperyear,”saidbytheeconomicsurvey. The prescription coincides with government declaring disinvestment as one of its top most priorities for mobilisation of resources,particularly,asitisfreefromthepressuresoftheLeftpartiesthathadobstructedtheprocessinthelastfiveyears. Asking the government to sell a minimum of 10 per cent equity in all profit-making unlisted PSUs, it said: “Complete the process ofselling5-10percentequityinpreviouslyidentifiedprofitmakingnon-Navratnas.”Asregardstheloss-makingPSUs,theSurvey said the government needs to “auction all loss making PSUs that cannot be revived. For those in which net worth is zero, allow negativebiddingintheformofdebt-writeoff.” Keywords:MajorFeaturesDisinvestmentPolicy,AdvantagesofDisinvestment,DisadvantagesofDisinvestment,Suggestions. Disinvestment Policy in the Context of Globalization Mr. Gulshan Kumar Academic Counsellor Vivekanand College, IGNOU Centre Department of History and Tourism Management FDI in retail has become the new buzzword in policy-making and in dustrial circles. The government has already allowed 51 per centFDI in single-brand retailing and is contemplating the pros and consof allowingFDI in retail for multiple brands. Meanwhile, small retailers are up in arms over the government’s proposal. Political consensus too is yet to build up as the consequences of allowing FDI in multi-brands are still being debated.The India Council for Research on International Economic Relations (ICRIER) has recommended the phased opening up of the retail sector with an initial cap of 49 per cent FDI. It has supported foreign investment because such a move would speed up the growth of organized formats in retailing. It has also argued that foreign retailers can anyway enter the Indian market through other routes, such as the franchise route. Therefore, the existing FDI ban has not, in reality, restricted the entry of foreign companies in the retail sector. While they have been there already, it is the nation which has lost on investment. Also the entry process for the retail companies through these other routes is non- transparent and complex. These things can be rectified by allowing FDI in retail. The ICRIER has also suggested that the govern- ment should grant industry status to the retail sector. It should also issue licenses to players that are to be allowed, make quality standards for local and imported products and specify those products where FDI would not be allowed. Besides all these things, domesticretailersshouldbegiventimetoadjusttothechangedscenariobeforethesectorisopenedup. Keywords:FDIPolicy,PositiveAspectsofFDIinRetailSector,NegativeAspectsofFDIinRetailSector. FDI in Retail Sector : Challenges or Opportunities Dr. Manish Kumar Academic Counsellor Vivekanand College, Ignou Centre Department Of Political Science And Public Administration
  • 21 ABSTRACTS 20 ABSTRACTS Sustainability quotient of Indian economy - challenges and imperatives Prof. Ashok Dubey Professor Amity International Business School Amity University, Noida Global economy is presently plagued with crisis and uncertainty all around. The economy of super rich nations is facing worst crisisleadbyAmericaandfollowedbyEuropeannations.Othernations,includingIndiahasbeenadverselyaffectedbyeconomic melt down and is finding difficult to sustain growth of 8-9% which was often quoted by Planning Commission and Finance Ministry officials a couple of years back. The fact is that we cannot wish away the crisis as our economy has co-mingled with worldeconomyafterweadoptedliberalization,privatizationandglobalizationinpostreformseraof1991.Theimmediatecause of global recession was lead by USA, in terms of sub-prime crisis in 2008, but the seeds of problem were sown much before this immediate crisis. Profligacy, spend thrift, buy today-pay later, greed overcoming need and desire to make quick bucks were the primary cause for recession which was stroking the fire in American economy. The genesis of the present problem of economic downturn can be summarized into four issues such as financial shock triggering a global slowdown that is concerned with the systemic sub-prime crisis in USA in 2008. The other issue relates to spiraling commodity including food prices, Euro nation debt crisis and overall weakness in financial sector regulation. The present financial crisis has affected all economies around the world,particularlythoseeconomiesthataremoreintegratedwiththeAmericanfinancialsystem. InlighterveinitissaidthatifAmericasneezesothernationscatchcold,andthisistruismforIndianeconomyaswell.Ourbilateral trade with America may be significant, but our economy has been to an extent adversely affected by slowdown in American economy which has been seen in last couple of years. The external link to 2008-09 slowdown was clearly visible in the hit our exports took: they grew negatively, declining 15% during the 12 month period immediately following the crisis. However, our crisis is home grown. One could potentially count many factors but two of them stand out: fiscal profligacy combined with monetary tightening and near paralysis in decision making at all levels of the government. The former was clearly at the heart of the slowdown in investment activity, while the latter additionally impacted the utilization of the existing capacity. Slowdown in decision making had initially begun in the environment ministry but it rapidly spread to other ministries and even states in the wake of the revelation of one corruption scandal after the other. Government developing a cold feet on naming the individuals who have stashed black money abroad, showing lack of grit and determination to handle corruption, lackadaisical approach in passing an effective Lokpal bill in parliament, political expediency gaining currency over efficiency and proficiency and passing thebuckofresponsibilityto“coalitiondharma”.Willful neglectbypresentleadershiphasresultedinreversalofreforminitiative by the government in opening the door to foreign investments in multi brand retail. Investment climate was vitiated and FII’s started withdrawing money. Stock market fell like a pack of cards, real estate development and infrastructure came to a halt. Compoundingourproblemfurtherwasincreasingwideningchasmof balanceofpaymentandrupeesharplydepreciatingvis-à- visdollarandoilpricesescalatinginworldmarket. India’s heavy dependence (about 70%) on imported crude oil together with the high and increasing crude oil prices have led to concerns about energy security and the impact of high crude oil prices on the sustainability of rapid economic growth in the future. Thus a renewable energy source like ethanol which can be blended with petrol appears promising. While Brazil has been able to use ethanol as fuel substitute on a large scale, China experienced rapid increase in food prices, when it tried to do the same. India can produce ethanol from waste products like molasses, but given the limited land availability in India and the likely rapid increase in demand for food in near future due to rising incomes, it may be difficult to divert significant amounts of food cropsforethanolproductioninIndia.Producingethanolfromwastebiomasscouldbeanalternate,butitneedslotofR&D. Revivingand sustaininggrowthinthepresentscenario,though aherculeantask,ispossibleand doable.Smallcoursecorrection, which is politically feasible, would not just return us to 8-9% growth path but also launch us into double-digit growth trajectory. This would require ending the inertia in government decision making, rethinking the right approach to social programs and implementation of some basic policy reforms such as those relating to land acquisition, higher education, multi brand retail, National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence tackling corruption head-along, creating favorable investment climate and prodding investors to invest without any fear of bureaucracyandred-tapism. There are good long term reasons for optimism. With savings rate inching towards 35%, we are generating ample funds for investment. The workforce and its skill level as reflected in rising levels of literacy and education are growing.. The economy is highly open to competition from foreign goods and services as well as foreign investors. This means that entrepreneurs cannot afford inefficiencies. Finally, India still remains very far from the global productivity frontier. This gives us considerable scope for growth through technological catch up. What is really needed is to give human touch to economic reforms and make “aam aadmi” a partner in progress and growth. The “bottom of pyramid” needs to be taken of and if this is done the growth will take careofitself. Tourism is one of the world’s largest industries. For developing countries it is also one of the biggest income generators. A number of countries in Asia and the Pacific consider tourism to be an important vehicle for economic and social development. The tourism industry has the potential to generate foreign exchange earnings, create employment, promote development in various parts of the country, reduce income and employment disparities among regions, strengthen linkages among many sectorsofthenationaleconomyandhelptoalleviatepoverty. However,thisstandardviewofthetourismindustry doesnotgive a complete picture of the potentialcontribution that tourism can provide for developing countries.In order tosustain tourism, it is necessary for countries to address various issues arising from tourism’s contribution to development in a comprehensive, systematic way. Issues of policy-making, planning, management and the participation of the private sector and other stakeholders must be addressed in terms of opportunities for action and possible constraints that need to be overcome by concertedefforts. ThetourismindustryinIndiaissubstantialandvibrant,andthecountryisfastbecomingamajorglobaldestination.India’stravel and tourism industry is one of them most profitable industries in the country, and also credited with contributing a substantial amount of foreign exchange. This is illustrated by the fact that during 2006, four million tourists visited India and spent US $8.9 billion. Several reasons are cited for the growth and prosperity of India’s travel and tourism industry. Economic growth has added millions annually tothe ranksof India’s middle class, a group thatis driving domestic tourism growth. Disposable incomein India hasgrownby10.11%annuallyfrom2001-2006,andmuchofthatisbeingspentontravel. TheTourismMinistry hasalsoplayedanimportantroleinthedevelopmentoftheindustry,initiatingadvertisingcampaignssuch as the 'Incredible India' campaign, which promoted India’s culture and tourist attractions in a fresh and memorable way. The campaignhelpedcreatea colorfulimageof India intheminds of consumers alloverthe world, and has directlyledtoan increase intheinterestamongtourists. The travel and tourism sector creates more jobs per million rupees of investment than any other sector of the economy and is capable of providing employment to a wide spectrum of jobseekers from the unskilled to the specialized , even in the remote parts of the country. One or two decades before people travel only it is needed. Over the decades, tourism has experienced continued growth and deepening ?diversification to become one of the fastest growing economic sectors in the world. Tourism has become a thriving global industry with the power to shape developing countries in both positive and negative ways. No doubtithasbecomethefourthlargestindustryintheglobaleconomy. Sustanibility and Growth in Indian Tourism Industry for Economic Development Mrs. Urvashi Garud Asst. Professor Institute of Management & Commerce Jiwaji University, Gwalior
  • 23 ABSTRACTS 22 ABSTRACTS In developing countries like India tourism has become one of the major sectors of the economy, contributing to a large proportion of the National Income and generating huge employment opportunities. It has become the fastest growing service industry in the country with great potentials for its further expansion and diversification. However, there are pros and cons involved with the development of tourism industry in the country. The developing world has immensely contributed to the economicboostthatIndia is currentlyenjoyingand it'stourism sector has not been leftout of the share of profits either-a major achievement for the image of brand India build up by a successful financial system in place in our country. Some economists credit this fiscal feature of success of Indian financial system to the income generated by the tourism segment, movements across the cross-section of rising business opportunities, agricultural and educational sectors opening up as well as novel and attractivepackagingofbrand-buildingforIndiathathaveinturn,benefitedthetravelindustryaswell. This article presents an analysis of the challenges to sustainable tourism development in developing countries with special referencestoIndiaasapartofthedevelopingworld.Itwasfoundthatthefactorsthathaveemergedaschallengestosustainable tourism development related to priorities of national economic policy, the structure of public administration, an emergence of environmental issues, over commercialisation, and the structure of international tourism system. It concludesthatalthough the principles of sustainable tourism development are beneficial, their implementation is an enormously difficult task to achieve and owing to the prevailing socio-economic and political conditions in the developing world. Hence, any operation of principles of sustainabletourism developmentnecessitateshard politicaland economicchoices,and decisionsbased upon complex socio- economic and environmental trade-offs. Moreover, it states that implementation of these hard decisions may not be possible unless international organisations encourage and collaborate with governments of developing countries to implement the principlesofsustainabletourismdevelopment. Keywords:Sustainabletourism,economicgrowth,Indiantourismindustryanddevelopment. ThispaperhighlighttheeffectsofGreekDebtCrisis,especiallyfocusingonIndianEconomyandIndianFinancialMarkets. Takahira Ogawa, S&P Director (Sovereign & International Public Finance Ratings) pointed out that the stock market of India will be comparatively more affected with the Greek crisis. Because of the contagion spreading not only the Europaen Union countries,butUSandotherasiancountriesareaffectedaswell. AswarnedbyGlobalcreditratingsagencyStandard&Poor,thatifthedebtcrisisinEuropesustainsforalongertimethenitcould have a substantial negative impact on the Indian economy. Also as already commented by Takahira Ogawa, S&P Director (Sovereign & International Public Finance Ratings) “If the solution of the Greece crisis takes longer to get resolved then the economyofIndiawillbesubstantilyaffected”. Even after the bailout of International Monetary Fund (IMF) the world markets are worried about the viability of the rescue effort. The biggest worry to the Indian Stock Markets is repatriating funds, reduced exports to europaen countries, reduced foreignreserves,capitaloutflowsandsharpdepreciationintherupeevalue. So the developing economies like India has to learn from these instences that the fiscal deficit has to be kept within the limits.Scopeofthispaperistocriticalyexaminetheabovestatedhighlightedpoints. KeyWords:SoverginDebt,EuropaenUnion,DebtCrisis,IndianEconomy,FiscalDeficit Impact of Greek Debt Crisis on Indian Economy and Indian Financial Markets Dr. Neelu Tiwari Associate Professor Jaipuria institute of Management Ghaziabad Ms. Shuchita Singh Assistant Professor Department of Management Studies JSSATEN, Noida National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence Duringthelastdecade,GrossNPA%ageofIndianbakingsectorisestimatedtohavedeclinedfrom11.4%in2001to2.3%in2009. While some experts attribute this decline to tight management by banks & RBI; others dispute veracity of claims by the Indian bankingsectorandsuspectittobeacaseofwindowdressingbybanksthroughnexusbetweenauditors&banks. The world economies were caught off guard by the emergence of USA mortgage and sub-prime crisis around the year 2008. During the recent years, economic turmoil enveloped the western world which later on spread to rest of the world. The UNO in its report “World EconomicSituation and Prospects 2012” has cautionedthatthe year 2012 couldbe a "make-or-break" year for theglobaleconomy. The situationin India is no different.Global economicslowdown has impacted India as well. GDP growth rate is expected toslow down from 8.5% in the financial year 2010–11 to around 7-7.5% for the financial year 2011-12. As a result signs of stress on Indian Banking Sector are showing up. Gross NPAs for the year 2010 are estimated to have risen to 2.4%. Global ratings firm Moody's recently downgraded its rating of State Bank of India's (SBI) financial strength by one notch to ‘D+' on account of the lender'slowTier-Icapitalratioanddeterioratingassetquality. NPAs are likely to continue rising in the near term — due to higher interest rates and a slower economy. RBI expects non- performingassets(NPA)toinchupto2.9percentduring2011.Thusoverallsituationrequireshugecaution. This paper explores the challenges faced by the Indian Banking Sector in the current turbulent economic environment and and its effects on the NPAs in Indian Banking Sector. The paper also examines the effectiveness of NPA management practices adoptedbytheIndianbankingsector. Section 1 of the paper covers the growth of Indian banking Sector during last decade and their emergencein global arena. It also highlightstheNPApositionofselectleadingIndianbanks. Section 2 encompasses literature review covering NPA management during the last decade and role of RBI. As per studies, while on the whole NPAs have shown declining trend, it is suspected that some banks might have fraudulently and in nexus with auditors have concealed all bad assets and NPAs during last ten years in the name of reformation. NPAs position remains worrisome in government banks mainly due to alleged widespread corruption, ill-motivated decision on lending taken by some corrupt officials and due to inaction of such corrupt officials. Further Indian politicians do not seem to have supportive role in generalforloanrecoveryastheydonotlikethattheirvotersbepressedhardforrepaymentofloan.Theypreferwaiverofloanor delay in its recovery to motivate voters to join their fold and vote for them. It is also suspected that banks have reduced their exposureinSMEsegmentand increasedtheirfocus and exposureinbulklendingtobigcorporatehouses forreducingGross NPA percentage. Section 3 explores the effects of current turbulent economic environment on the Indian banking Sector. A variety of factors are projectedtohaveadverseeffectontheworkingofIndianbanks.Firstofall,Inflationratecontinuestoremainuncheckeddespite repeated bank rate hikes by the central bank, RBI. High inflation rate is adversely impacting the corporate profitability including lending banks. This can also affect debt service coverage ratio of debtors. High interest rates can have adverse impacts on bank’s credit growth and may also impact repayment by debtors. Lending to recession-hit sectors like textile and steel accounts for significant proportion of total lending by Indian banks. Credit to power and infrastructure sectors has also grown rapidly in the pastfouryears,whichhascreatedadditionalrisksfortheIndianbanks.InadditionState-ownedbankshaveahigherallocationto small industries, which couldget hurt early if the industrial slowdown continues. These are worrisome developments,which are likely to impact the Indian banks’ bottom-line in the future. Thus varieties of factors are expected to result in rise of NPAs in the NPA Management by the Indian Banking Sector in the Turbulent Economic Environment Dr. Vijay Kumar Khurana Professor, giBS New Delhi
  • 25 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 24 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 banks. Section 4 examines the effectiveness of recent NPA management strategies adopted by the Indian banking sector in the current eraofeconomicturbulence.Indianbanks’continuetoreshuffleloanportfolios. Section 5 summarizes the capability of Indian banks to respond to the challenges / threats emanating from the turbulent environment. Indian banks’ continue to focus on high return on investment, low cost-to-income ratios and the efficient use of technology which may help them to fight the challenges. According to Mr Rajeev Thakkar, CEO, Parag Parikh Financial Advisory Services, “If margins are high then NPAs are not a cause for concern... There is a difficulty in the system but we are certainly not intorecessionaryterritory.”AstudybyBostonConsultingGroup(BCG)projectsthatby2025theIndianbankingsectorwillbethe thirdlargestintheworldonassets,behindChinaandtheUS. Thus the paper covers the entire dynamics of NPA management in the Indian banking Sector in the current turbulent economic environment. The healthcare sector is a central part of our society, often in focus and often questioned. The sector is difficult to govern and conservative whilst rapid technical development challenges the ability of organizations to adapt. To a great extent, the organization of the healthcare sector is anachronistic and potential improvements spread slowly if at all. Understanding the elements of organizing, managing and governing, have central implications for developing tomorrow’s healthcare systems and thefocusisfurtheronunderlyingmechanismsandpositions. The requirement for collaboration across stakeholders including support of regulators, policy makers, decision makers and health system leaders is clear. There is a need for private sector actors toengagethese players todemonstrate the health impact and not just the financial impact. Innovators face challenges when scaling, transferring and replicating private sector health innovations–creatingdialogueandamutualgroundisessential. Within developing countries, access to basic healthcare services is seen to be extremely limited and many simply lack access to even the most basic services; the social impact on life expectancy is large with high mortality rates due to diseases where preventative measures and treatmentexists. Within emerging economiesgrowth in healthcare is not keeping up with economic anddemographicgrowth,leadingtovastunmetneedswherehealthcareisonlyreachingasub-setofthepopulation. There is an opportunity to make a step-change impact on healthcare delivery around the world by looking to examples where a step-change impact, albeit usually in small pockets, has been achieved. There are examples, in resource-constrained settings, where innovative healthcare entrepreneurs are developing creative approaches to care delivery that improves access to quality careataffordablecosts. KeyWords:Innovativehealthcareentrepreneur Challenges in Managing Healthcare Delivery System in the Era of Economic Downturn Rajiv Jain Professor Mangalmay Institute of Management & Technology, Greater Noida JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence One of the greatest strength of Indian middle class, the backbone of Indian economy, is they give utmost priority to professional education which includes management education, as evident by mushrooming of management institutions in India. As such professional education in general and management education in particular, stands at a crossroads in India. Without change, the traditional university structure of educating and training tomorrow’s business leaders, it is unlikely to be surpassed and compete,theincreasinglydiverseandtechnologicalglobaleconomy. In the first decade of 21st century Indian economy has emerged as a powerful nation. This powerful economy has not only helpedIndianpeopletoprosperbutalsohelpedtheworldeconomytorecover.TheIndiangrowthstoryislargelyduetoitspolicy and tough decision taken in the past. It is said that getting power is easy but maintaining power is difficult, so to maintain this powerful status one need to explore other potentially viable areas which will lead to generate more power in tough time. It is evident from Indian growth story that investing in intellectual property has long term effect as in the case of IT sector and biotechnology sector, one of the areas which consist of tremendous potential is education in general and management education in particular. Although government of India is also showing its commitment by introducing “Right to education Bill” in 2010,butthereisalottobedoneespeciallyinhighereducation. In this paper first we will discuss about management education in India and later, how management education will help in the sustainablegrowth. KeyWords: SustainableGrowth,ManagementEducation,GlobalEconomy. Sustaining Growth through Management Education in INDIA Mr.Shanti Ranjan Upadhyay Assistant Professor Institute of Management Sciences (SHEPA) Varanasi (U.P.) Dr. Anupam Shukla Associate Professor Institute of Management Sciences (SHEPA) Varanasi (U.P.) With the globalization of industries and world financial markets, swaps have become one of the most popular financial tools in presentera.The versatilityof the swapsenablesits users toincreasetheirpositions in capitalmarketstogetherwith reduction in their financial risks arising from such positions. Swaps can not only replace other derivative instruments such as futures and forwards, but also can complement them. Swaps refer to a contract between two parties, termed as counter-parties, who exchange payments between them for an agreed period of time according to certain specified rules. It is defined as a financial transaction involving two counter-parties who agreed terms to exchange streams of payments or cash flows overtime on the basis of agreed at the beginning of the contract. Swap is like a series of forward contracts. Swaps involve a series of exchanges at specific futures dates between counter parties. As regards benefits of swaps, swap relates to positions between paying and receiving fixed-rate flows, principal amounts, maturities, collateralization, better documentation and net settlements. Collateralization with marketable securities has become a significant characteristic of swaps. Some counterparties resist on the posting of collateral, since they are often limited by negative pledge. More protective documentation in swap agreements provides fast remedial action in advance in case of actual default. The various tests of financial condition found in credit agreement are included in swaps contracts, through cross-default or cross-acceleration clauses, users can gain the benefits. Such protection makes the position favorable. This paper aims at highlighting the various types of swaps, their benefits and how cantheyeffectivelybeusedtomanageriskineconomicdownturn. Keywords:foreignexchange,hedging,riskmanagement SWAPS: Effective Tool For Risk Management in Economic Downturn Dr. Akansha Jain Assistant Professor Dronacharya Group of Institutions, Greater Noida
  • 27 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 26 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 India’s economy has been fuelled by the growth in the technology sector in the recent past. A large part of this growth is dependent on the “outsourcing” or “off shoring” of key business processes and software development activity (and related services) by large global corporations and other organizations. Hence, the global slowdown has also affected the business climate within India and the growth rate of the Information Technology (IT) and Information Technology Enabled Services (ITES) sectorisalsoexperiencingthetremorsoftheglobalrecession. The IT-ITES industry in India has today become a growth engine for the economy, contributing substantially to increases in the GDP, urban employment and exports, toachieve the vision of a powerful and resilient India. While the Indian economy has been impacted by the global slowdown, the IT-ITES industry has displayed resilience and tenacity in countering the unpredictable conditionsandreiteratingtheviabilityofIndia’sfundamentalvalueproposition. Today’s escalating, competitive and demanding environments have forced companies to be more efficient, operate leaner and continuously create new procedures to keep ahead of competitors - adding final consumer value to a product or service in the formoflowerprices,qualityandbetterservicehasbecomeanessentialrequirementintheglobalmarketplace. Corporations are trying to adapt with increasing competitors’ innovations to find global opportunities and resources, focusing on core competencies and mutually beneficial relationships, and finally, outsourcing those activities which can be performed morequicklyandatlowercostsbysubcontractors.Inagloballyintegratedeconomy,outsourcingisleadingtooverallbenefitsfor the source economies, providing significant monetary and employment benefits. India has become a target destination for multinationals toback end theirIT operationsin India owingtoits strong value proposition. We have witnessed an increased use of offshoring by global and European outsourcers, and the emphasis on productivity and delivering value by select Indian players. The Indian IT / ITES sector can be viewed from two perspectives - Indian global IT and Indian IT offshorer. The globally IT companies are increasingly looking inwards and focusing on process benchmarking, enhanced utilization of infrastructure and talent, increasing productivity and greater customer engagement. Global companies with roots in India are increasingly ‘offshoring’workinordertocutcost,asaresultofwhichIndiaiswitnessingarevenuegrowth. India being one of the world’s fastest-growing tech markets, thriving mainly on exports is also experiencing the tremors of the global economic crisis. IT spending as a percentage of revenue normally varies from 3.5% in manufacturing companies, 5-6% in globalretailchainstoabout9.5%inthebankingindustry.Thesecouldseemarginaldeclineascompanieswilltendtoholdspends onnewITdeployments.IndiahasbecomeatargetdestinationformultinationalstobackendtheirIToperationsinIndiaowingto itsstrongvalueproposition. While there are growth-related challenges in the short to-medium term, there seem to be some opportunities for managing the bottom line for the rest of the year. The macroeconomic environment is depressing and has impacted the overall confidence in thesectorfromamarketperspective. All in all, the environment looks weakest in a long while, and yet there remain pockets of opportunity. These areas, if tapped intelligently, would enable the IT firms to ease the blow of this financial crisis and help them tide through the tough times. The crisis has now spread globally, and further reduces room to maneuver. To conclude, we are tempted to use a popular aphorism; the Chinese character for “Crisis” represents two symbols “Danger” and “Opportunity“. Important challenges remain to be met if the full potential of the region's IT sectors are to be realized. Second, they must do everything possible to ensure Indian Economical Status and Its Impact on Slowdown IT Industry: An Information Revolution Durgesh Kumar Thakur Research Scholar Karnatka State Open University Deepesh Kumar Thakur Lecturer Lingaya’s University JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence more and better linkages between the growing IT sector on the one hand, and the rest of the real economy on the other, both agriculture and industry. Third, they must do everything possible to ensure that political stability is maintained by cleverly managing the ethnic and class tensions inevitably affected by the process of globalization and restructuring. Finally, the emerging public-private partnerships among the top national elites must be more transparent and successful in promoting the growth of locally owned, indigenous firms that actually innovate in this fast-moving field. Indeed, the use of modern information systems may introduce greater transparency into these relationships. By so doing, IT buoyed reforms may help better protect regional politicaleconomiesshouldanothereconomiccrisisloomonthehorizon. KeyWords:IT&ITES,IndianEconomy,ITSector,ITGlobalization,InformationRevolution Management of generation has been an area of concern for industries since inception of industrialization. Gen X, Gen Y and Gen Z have been the buzz words these days. In recent year there has been a lot of discussion in management and organization literature about the workforce diversity and cross-cultural values. One of the main issues that have been ignored by most of these studies is generation diversity at workplace. Each generation has different work values, different perception of authority, different view about what is important in life, admires different leadership styles. This paper explores and analyzes the different value system shared by different generation and corresponding management strategies to manage the generational mix in an organization. KeyWords:Cross-culturalvalues,Diversity,Traditionalist,GenerationXers,GenerationYers,BabyBoomer, Managing Generation Mix: Challenges and Prospects Dr D K Tripathi Assistant Professor – HRM I.T.S – Institute of Technology and Science Mohan Nagar, Ghaziabad Prof D K Pandey Associate Professor – HRM I.T.S – Institute of Technology and Science Mohan Nagar, Ghaziabad As an economic force pension funds cannot be ignored. Pension funds are the fastest growing of all financial institutions. The economic role of pension funds is considerable and well acknowledged. They cover half the labour force and represent majority of the financial assets of the entire household sector. Pension funds may enhance economic growth by increasing the aggregate levelofsavingsavailableforinvestment.Theeconomicimpactofpensionfundsaremostnoticeableinthechannelingoffundsto capital markets, the re-distribution of income & wage contract negotiations. Less obvious economic effects however may be emerging in the spending and saving habits of many wage earners. Considering the importance of saving on capital formation and economic stability the impact on saving becomes particularly significant. A saving level change resulting from pension contributions, could have far reaching implications in terms of national and stability. Pension reforms in India have generated widespread interest internationally. The paper highlights the major concerns of pension sector and their overall impact on Indianeconomy. KeyWords: Pensionreforms,pensionfunds,economicgrowth,saving Pension Sector Reforms and Economic Growth Special Reference to India Preeti Gupta Faculty Netaji Subhash Institute of Management Sciences(NIMS), Delhi
  • 29 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 28 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 IT (information technology) plays an important role in managing and controlling the various activities of business like production,marketingfinanceetc.IThelpsbusinessinanalyzingthedataneededandfeedbackbyitscustomers.Todaythereisa cut throat competition among the various organizations. Therefore IT faces lot of threats and challenges for this purpose. In this paper we discuss some the challenges of IT like unethical behavior, less proficiency of employer, viruses etc. This paper is great weapontoknowaboutuseofITinbusiness. Keywords:InformationTechnology,business,challenges,organizationetc. Challenges of IT in managing and controlling the business in this era of economic downturn In the time of economic downturns and financial recession, organizations and employees struggle not only for sustenance but evenforsurvival.It'sbutnaturalthatinthetimeofeconomicdownturnswhenmarket,price,interestrateandpurchasingpower are down, job insecurity is high since organizations follow the policy of retrenchment, scrutiny or downsizing; the challenges of managing sustenance and growth are innumerable todeal with. The end objective is toget aware the challenges tohandle them for sustainable growth of managing sustenance in economic meltdown and financial recession. Thus to survive at this critical junction, one needs to aware with the challenges of sustenance and growth. To address such turmoil, this article focuses on the importance of identifying these challenges to face this time of crisis. Additionally today's global environment also warrants developmentofnewcopingskillstobeabletointegrateandassimilateinahighlyheterogeneouseconomicenvironment. KeyWords:downsizing,retrenchment,recession. "Skill Challenges of Sustenance and Growth in Economic Downturn" Ms. Sonia Gouri Asst. professor IAMR, Ghaziabad Mr. Ajay Kumar Asst. professor IAMR, Ghaziabad Television and talentare inseparable terms. Television in India has the highest reach as compared toprintmedia. More than half ofthepopulationhasaccesstotelevisioninIndia. This research paper will focus on the challenges of managing sustenance and growth in the era of economic downturn with talent management as a key for survival. It will be analyzed how top talent plays an important role in sustaining businesses and what are the challenges and possible restoration measures which could be implemented during economic down turns. This paper will enumerate how Talent is the leading indicator of whether a business is headed up or down and will demonstrate the importanceofTalentasabigdifferentiatorbetweencompaniesthatsucceedandthosethatdonot.Thosethatsustainareledby people, who can adapt their organizations to change, make the right strategic bets, take calculated risks, conceive and execute newvaluecreatingopportunities,andbuildandrebuildcompetitiveadvantage. TV Broadcasting and Economic down turn – Research study on talent management as a global key for sustenance. Ramesh.C.Raina IMT Ghaziabad Dr. Manosi Chaudhary Birla Institute of Management Technology Greater Noida Rashi Assistant Professor Management Department Subharti University, Meerut Deepak Sharma Assistant professor Computer Application Department Subharti University, Meerut Shreya Panwar Assistant Professor Management Department Subharti University, Meerut JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence The proposed research study will describe how big multinational companies have sustained during economic crises with the help of Talent management policies. Many companies survived during economic meltdown namely General Electricals, Citi Bank,TOYOTA;thisstudywillanalyzetheirtalentmanagementstrategieswhichhelpedtheminsurvivalintoughtimes. The biggest challenge is identifying, developing and retaining star performers during the economic downturns. Every company has its constellation of stars – the consistent top performers who help the organization shine. They are the vital few who contribute the most to the bottom line and drive a company’s results and reputation. Demonstrates Kindler, B, Jeffrey ‘‘now more than ever before, we are counting on our best people to find ways to drive growth in this brutal marketplace. Reaching out tosupport,sustain,andfullyengagetoptalentiscentraltoourstrategy.’’ Business is static without talent. Machines, buildings, money, technology, facilities are insufficient and do not help in driving businesses. Keep a hi –tech machine on the floor of IBM it will remain there for hundreds of years until not operated by a talent. Put a plasma monitor hung on the wall, it will not telecast any program until human interference is not there. Companies put moreresourcesonfinancialsystemsandinteriorsthantoptalent.Wemaysaythatifeconomicdownturnhappensitiscausedby lackoftalentandifitisrestoreditissobecausetoptalenthelpinrevivingthegrowthprocess. There is a considerable growth of internet marketing in the recent times. In all sectors internet marketing is used either for promotion of products and services or for selling the products and services as a direct channel or for providing convenience to consumers and maintaining relationship with them. The main objective of this research paper is to study the role of internet marketing with respect to different functions of Promotion, Distribution and Customer Relationship Management (CRM). This study is based on primary data collected from Internet users who comes across various forms of internet marketing. Data interpretation and Data Analysis is done with the various statistical tool like T-test. The findings of study states that Internet marketingintermsofdifferent functionslike–Promotion,DistributionandCRMiseffective. Internet Marketing:An effective way of marketing in these challenging times. Jitendra Singh Rathore Assistant Professor Poornima Group of Colleges, Jaipur Mauritius is facing an acute shortage of Information Technology (IT) professionals. This is partly being addressed by the recruitment of professionals from other countries in the private sector only. The public sector has a strict mode of recruitment and employment of foreigners is not straightforward. ICT organisations are investing in recruitment and training, but the mobility of labour poses a serious threat to successful completion of projects. It is important to investigate into the need of retainingemployeesandthebenefitsthatemployeeretentioncanbringtoICT organisationsinordertosupportthevisionofthe Government. In this study, the problems faced by Mauritian Public Sector in attracting and retaining the best talents are investigated and recommendationsaremadetoensureafavourableworkenvironmentforhigheremployeemoraleandhighproductivity. Keywords:Employeeretention,PublicSector,InformationTechnology,Mauritius. Employee retention challenge in the ICT Public Sector in Mauritius Aneerav Sukhoo Central Informatics Bureau, Mauritius Mahen Soobron Central Informatics Bureau, Mauritius Poornanund Ramnia Central Informatics Bureau, Mauritius
  • 31 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 30 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 Organisational climate is one of the most important concepts permeating the thinking of industrial psychologist over the past few years. Organisational climate is considered to be important because of its relationship to other organisational phenomena suchasproductivity,jobsatisfaction,performanceandleadershipbehaviour. Consequently, the hypothesised relationship between organisationalclimate and productivity has been a long-standing interest in the study of organisational climate among organisational researchers. Research over many decades leaves no room for doubt thatanorganisation'sclimatehasaprofoundanddirectinfluenceonproductivity. In this context, this study aimed to assess the relationship between the organisational climate and employee productivity. The findings of this study helped to primarily audit the organisational climate and secondly to determine the relationship of the variousdimensionsoforganisationalclimatewithproductivity. Climate dimensions measurement were also analysed against productivity measurements. The evidence collected lent support tothepropositionthatthereisastatisticalassociationbetweenorganisationalclimateandproductivity. Keywords:OrganisationalClimate,Productivity,ITProjects,ProjectManagement. The Importance of Organisational Climate in Project Management Mahen Soobron Central Informatics Bureau, Mauritius Poornanund Ramnial Central Informatics Bureau, Mauritius Aneerav Sukhoo Central Informatics Bureau, Mauritius Soft skills described as an art, are very often ignored during information technology (IT) project management (Belzer, 2004:1). Such skills, acquired through experience, are concerned with managing and working with people, ensuring customer satisfaction and creating a conducive environment for the project team to deliver high quality products within budget and on timeandexceedingstakeholderexpectations. This paper investigates the current use of soft skills in e-government projects and how the effective use of soft skills could possibly improve the success rate of IT projects. The findings revealed that there is a low level of critical soft skills being used for managementofe-governmentprojects.Thisresearchalsoconfirmedthestrongrelationshipbetweenprojects’successandsoft skills. Keywords:Softskills,e-Government,ITProjects,ProjectManagement. Impacts of Soft Skills on e-Government Projects’ Success Aneerav Sukhoo Central Informatics Bureau, Mauritius Poornanund Ramnial Central Informatics Bureau, Mauritius Mahen Soobron Central Informatics Bureau, Mauritius JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence Changing Role of HRM Practitioners in Era of Economic Downturn HRM carries a ‘strategic’ status in the changed era of globalization. There is a need for practitioners to effectively manage environmental challenges. The paper focuses on the strategic status of HRM and identifies the roles and skills required by the practitioners to achieve this status. Further paper discusses the three repositioning roles which are strategic, consultancy, service roles which are highly necessary toimprove the specialized, reputationaleffectiveness of HRM practitioners. To perform these roles effectively, three different categories of skills are required, including strategic, organizational, personal skills. The paper studies the current status of HRM in the country and the future direction required to adopt to form a collaborative business partnership approach with upcoming managers to ensure augmentation of organizational and professional status in the new millennium and in the era of economic downturn. The paper finally presents the conclusion followed with recommendationswhichareuniversallyapplicableonHRMpractitioners. KeyWords:Strategic,HRMPractitioners,RepositioningRoles Roopal Shrivastava Assistant Professor, DSPSR, New Delhi Nainy Passi Assistant Professor, DSPSR, New Delhi Sustenance of India’s Export with Related Measures The post reform rise of Indian Economy in international arena, is significantly depends on internal and external policies; which are dominated and reflected by the Indian contributions in World Economy – is generally measured by the Foreign Trade as well as GDP. Export Led Hypotheses suggests that economies are gaining higher growth through higher exports. Policies aiming at increasing export are associated with other related measures like value of export, volume of export, per capita export, contribution of export to GDP, and contribution of export to world export etc. This paper attempts to study the behavior of various export related measures from 1980-81. Attempt was also made to combine the related measures to Overall Export Performance Index (OEPI) as a function from n - dimensional space to real line, satisfying a set of desired properties. The index is sensitive towards outliers as it is primarily based on the concept of geometric mean. The index (including each component) registered increasing trend after 1990-91, however the growth could not be sustained in 2009-10 but during the successive year itregainedandreflectingthepolicyimpactsintermsofsustenanceorsustainability. KeyWords:Export,n–dimension,Sustenance. Prof. S. N. Chakrabartty Professor Galgotias Business School, Greater Noida Dr. Sanjeev Kr. Jain Associate Professor Galgotias Business School, Greater Noida The Islamic banking industry showing an average growth rate of 15%-20% annually and comprises around 400 institutions with anassetundermanagementinexcessofUS$1trillion,accordingtoStandard&Poor’sRatingsServices thepotentialmarketis$4 trillion worldwide, Financial institutions like ABN Amro, HSBC, American Express, ANZ Grindlays Bank, Chase Manhattan, Deutsche Bank, Nomura Securities and Union Bank of Switzerland now all have in-house Islamic units. Islamic banking operations now exist in about 100 countries. In most countries with significant Islamic communities, financial institutions that catering the Islamic financial services are growing much faster than conventional banks, because of the strong demand among consumers for products and services that comply with Sharia, the Islamic legal code. Therefore all these information giving us enough reasons to study its future potential in India. In India we are still waiting for Islamic banking to come, few signals are showing that soon we will have the parallel Islamic banking division along with the conventionalbanking. At this very early stage Studying the present status of Islamic banking worldwide and its SWOT analysis to find out, its future potential in India. Khurram Ajaz Khan Assistant Professor, Faculty of Management, JETGI, Lucknow, UP. Urooj Ahmad Siddiqui Assistant Professor, Faculty of Management, JETGI, Lucknow, UP.
  • 33 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 32 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 whenthehistoryofIslamicbankingintheworldisnotverymucholdbutstillitisremarkabletostudyhowtheseIslamicbanksare boosting the growth of various economies in the world. Therefore In the first part, this paper is trying to highlights the performance of various Islamic banking institutions, with an objective to bring out the present status of Islamic banking globally and in the second part of the paper with the help of SWOT ANALYSIS,it is tried tofind out the future potentialfor starting Islamic bankingservicesinIndia. Keyword:Islamicbanking,conventionalBanking,Swotanalysis.Crisil,S&P. Corporate Entrepreneurship: AWinning Tool in the Continuing Global Economic Crisis. Ms. Aditi Midha Associate Professor Jagannath International Management School, Kalkaji, New Delhi In this world of ever continuing economy, the germination of corporate entrepreneurship has given a new direction to the corporate;notonlyunderstanditconceptuallybutalsostrategizeandimplementthisgenericconcepttoestablishviabilityinthe organizations. In order to be insulated against any crisis and to have a competitive advantage; corporate entrepreneurship is a notanewtrendbutanabsolutenecessityandimportantparadigmintoday’seconomicscenario.Inordertofightagainstallodds organizationsmustincubateandnurturegrowth,appreciatewellresult-risks,exploitopportunitiesandfuelinnovation. Growth is not enough in this intense global competition; there is an increasing need for business organizations to become more entrepreneurial to thrive and prosper. The core ingredient for any successful organization is being competitive, adaptive and dynamic in its approach. Continuous and continual innovation is the key. Corporate entrepreneurship is a mechanism which has the capability not only to identify but also construct a unique business model for the organization for future prospects that may lead to new business ventures. It is considered as a valuable instrument for rejuvenating and revitalizing the organization through initiatives by and through internal customers themselves by pioneering developments in processes, products or services. Such renewal efforts can be manifested in the form of mergers and acquisitions, franchising, licensing, contracting, R&Detc. This paper attemptswillexplore howthe domain specific characteristics of successfulCorporate Entrepreneurship environment can be establish and put into action? What factors stimulate and inhibit such environments in organizations for corporate entrepreneurship? How important it is for any organization? This paper will develop the theoretical foundation for theses questions and focuses on the relationship between corporate entrepreneurship, strategic management, process of entrepreneurship and performance of the organization. This paper will also highlight some success stories and their strategies whichcanguideIndiancorporatetomaptheirownsuccessstories. Keywords:Corporateentrepreneurship,innovation,competitiveadvantage JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence ServiceMarketingIntheNewEconomy:Introduction Service sector is the largest contributor in the Indian economy. Service sector in India today accounts for more than half of its total GDP. According to the Indian Budget 2010-11 the service sector has a 55.2% share in total GDP of the country, which was initially30.5%in1950-51. After the development of LPG (Liberalization, Privatization & Globalization) in India the service sector has emerged as an area of opportunities. In this paper wediscuss existing literature in service quality, service loyalty, relationship between them and there bytheimplicationsemergingforservicemarketers.Servicequalityisanimportantdeterminantofserviceloyalty(Bloemeretal., 1988). In respect of the service loyalty, perceived service quality is often viewed as a key antecedent. In a service organization service loyalty begins only after a certain level of customer satisfaction has been achieved. A loyal customer always feels that he is being benefited to become loyal. This philosophy helps the provider to maintain the feeling of loyalty in mind of the customer. Heterogeneity, Inseparability and Perishability characteristics of services put a very significant impact on the service loyalty. Since services are intangible and heterogeneous, most consumers will perceive higher risk in services than in goods. As perceived risk increases, the likelihood of loyalty to one particular service provider is greater. It maintains the interpersonal relationship and provides the benefits for both customers as well as service providers.This research basically discusses some important dimensions of service quality and service loyalty. The research also discusses the relationship between these two important constructs of service marketing and highlights the issues which have important marketing implications for service marketers. If a consumeris satisfied with a service provider he is most likely tobe loyal as the service performance is inseparable from provider and on the other hand with regular patronage, the service provider is likely to become more aware of consumer’s specific needs which will finally lead to better service performance. The marketers should also focus on reducing the perceived risksothatconsumershaveapositiveperceptionaboutservicequalitywhichleadstohighserviceloyalty. Service Loyalty and its Relationship with Service Quality: Implications for Service Marketers Ambrish Singh Junior Research Fellow Department of Business Administration University of Lucknow, Lucknow Utkarsh Junior Research Fellow Department of Business Administration University of Lucknow, Lucknow The Critical Need for Succession Planning In Economic Downturn Richa Dinker Research Scholar Uttarakhand Technical University, Dehradoon Purpose: Succession planning, the most important human resource risk is not taken seriously by most of the companies. This paper explains what succession planning actually is, and what are the important issues involved in succession planning. This paperalsoexplainsthestepsinvolvedinsuccessionplanning. Problem: Inearliertimes,astherewerelessnumberoforganizations,leaderswereinplentyinorganizationsandtheywilltake care of strategic activities, trainings and mentoring. Employees expect to stay for long with the employer and expect that after fewyears of distinguished services theymightbe invited tojoin the management team. And as leaders had plentyof time,so it is theirresponsibilitytodevelopthenextgenerationofleaders.Thiswasthetrendtill70s’incompaniesandtill80s’inothers. Succession Planning in Economic Downturn: In recession time, there is a need of maximum product performance and profitability and to achieve these companies need to maximise the efforts put in by the employees. While, some organizations believe that recession is cyclical in nature, and succession planning is ongoing in nature. Others think that recession had made things tougher. Due to layoffs, companies are forced to focus on short-term replacement rather than long-term strategic successionplanning.
  • 35 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 34 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 Everynewphenomenonhasitsownlanguage,itsownmetaphor.Thephenomenonofglobalizationandeconomicdownturnhas chosen English as its language. Language is commerce. It is a free trade agreement of ideas and feelings. Today the ordinary worker in malls and multiplexes speak English. Call centers recruit employees on the basis of their English speaking skills, not their mark sheets. By 2025, India would have transformed further. It would be imperative for cab drivers to know the language. The same goesfor security guards manning ATMs and other business installations. The housemaids will address their employers as Sir or Madam. Certain terms of Hindi would become obsolete. The future job market would require both managers and workersspeakEnglish,theglobalvillage’schosenlanguage. Castes and communities have used English to further their careers, but considered it as a language of aliens. Now, they are realizingtheimportance.LackofEnglishhashinderedtalent,communicationandinvestmentflows.Ateverylevel,Englishopens up closed doors. The enmeshing of world economy due to the economic downturn of world economy has added to the importanceofEnglishasafunctionallanguage. In the past, countries such as China, Japan and Russia tried toimpart higher education in their mother tonguebut noware falling back on English. The dearth of English speaking people in China has lead tooutsourcing BPO jobstoIndia. English is the language ofinternationalcommerce. ThepaperfocusesontheimportanceofEnglishasaworldlanguage,theadvanceoftechnologyandeducationreformenvisaged bytheIndianconstitutionwhichisthekeydeterminantsformanagingsustenanceandgrowthintheeraofeconomicdownturns. Keywords : Language, Communication, Education reform, Managing sustenance, Teacher development, IT Explosion, Labor market Succession planning and developmentof the future leader gohand in hand. It depends on the strategies, objectives and goalsof the organization. Succession planning cannot be ignored because the consequences of not being prepared to replace key positionswillhaveamajorimpactonanorganization'sabilitytoachieveitsgoalsandstrategictargets. KeyWords:succession,planning,economicdownturn Recognizing the Opportunities of Language without which India May miss the Globalization Bus Shalini Aggarwal Assistant Professor Jagannath International Management School (JIMS), Kalkaji, New Delhi The Role of Corporate Brand Identity during an Economic Crisis Teena Chaudhary Assistant Professor Jaipuria Institute of Management, Vasundhra, Ghaziabad Today we can verbalize about the economic chaos. In the wake of the economic downturn, policymakers are increasingly concerned with securing the economic strength of the nation. The economic turbulence represents nothing else but the “path” of the rapid changesfrom an organization’s internal and externalenvironment,impossible topredict, which affect the corporate performances. Consequently, in securing the nation and its economic health, policymakers are also tasked with corporate identityanditsimpact. Corporate identity has emerged in literature of the last decade as a multifaceted phenomenon that has been looked at and defined from many perspectives. The management and communication of a company's identity increasingly is being viewed as vitaltocorporatesuccess.Corporatecommunicationisthelinkbetweencorporateidentityandcorporateimageandreputation. JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence Changing economic circumstances may require a different kind of company with different identity attributes. This study will definetheroleofcorporateidentityinthiseconomicdownturncrisis. Underthesechangingcircumstances,managementtends to delineate the desired corporate identity or image without having a clear conception of the company’s actual identity. A changing or multiple corporate identities cancreate instability; this may adversely influence a company’s internal processes and itscorporateImage.Thispaperwillrevealthatwhatiseconomicturbulenceandhowdoesitaffectcorporateidentity? Keywords:corporateidentity,globalization,reputation,corporatecommunication Managing Organisational Changes and McKinsey’s 7 S model Dr. Rajni Singh Designation- Assistant Professor (Human Resource) Hierank Business School, Noida This paper deals with managing change in the competitive environment. It emphasizes on the importance of change and emerging trends viz., impact of globalization, workforce diversity, flexibility and need for flatter organizational structure. The globalization of economy has led the business environment to be more dynamic with unprecedented challenges of market place, technology and human resources. Organizations have realized the need for change. Change management is not possible without bringing change in the style/ culture, staff, strategy, system, and skill factors of the organization, which are not normally taken into consideration while implementing analytical dimensions of change. These often neglected, but crucial issues for change can help organizations in self-audit to assess their strengths and weaknesses in planning and managing change. Paper discusses McKinsey's 7S Model that was created by the consulting company McKinsey and Company in the early 1980s. Since then it has been widely used bypractitioners and academicsalike in analyzinghundreds of organizations.The paper explains the emerging trends in managing change and the importance of seven components of McKinsey’s model and the links between them. It also includes implementation of McKinsey model at Infosys which gives practical guidance and advice to the managers foranalyzingtheorganizations. Keywords:organizationalchange,globalization,workforcediversity,flexibility,McKinsey's7Smodel. Retailing in India-A way to Growth of Organized Retailing in Emerging Economies: Challenges and Opportunities Shikha Pathak Assistant Professor ABES IT Group of Institutions, Ghaziabad In this research paper, we take a peek into the organized retail sector of India, its future prospects and what are the challenges andopportunitieswillbeexplored. The retail landscape in India is changing rapidly and is being scrutinized by large scale investments by foreign and domestic players. Market liberalization and changing consumer behaviour have sown the seeds of a retail transformation. Indian retailing is growing fast and imparting the consumer preferences across the country. Today retailing is largest contributing sector to country's GDP i.e. 10% as compared to 8% in China, 6% in Brazil. Modern retailing is capable of generating employment opportunities for 2.5 million people by 2010 in various retail operationand over 10 million additional workforce in retail support activities. Organised retail which presently account for only 4-6 percent of the total market is likely to increase its share to over 30%by2013.Itoffershugepotentialforgrowthincomingyears.Indiaisbecomingmostfavouredretaildestinationintheworld. It started making its presence as it came with evolutionary patterns from Kirana store to Super market. This sector was un- organized in the initial stage, but become well organized. Now it is growing as supermarket and hypermarket felt. A brief introduction and evolution shows how the organized retailing changed. The market size and related details gives a statistical view of increasing market in a few major areas of retailing. The major market players who enlivened the present caricature of retail sector are presented briefly along with statistics. The changing scenarios of Indian consumers give a proof to the potential
  • 37 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 36 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 opportunity in the retailing arena. SWOT and its subheads take you to the crux of analysis into retail industry. Out of which we formulated the future prospects. One of the important features of the Indian retailing is the advertising and promotional strategies;whichcomesoutwithinnovativewaystowinconsumersoverandkeepthempermanentlyhappy. Organized Retailing in the last decade has emerged as one of the sunrise industries in India, closely following the IT and biotechnology industry. The boom in the sector started after the liberalization measures were initiated in 1991 in the country. Several large chains have entered the bandwagon and achieved fair to significant success. Indian retailing has evolved over the past decade, from largely an ‘informal’ and disorganized marketplace to an increasingly corporatised industry at least in the urbanIndia. Thisisthelargestamongalltheindustries,accountingforover10%ofcountry’sGDPandaround8%ofemployment. TheRetailIndustryinIndiahascomeforthasoneofthemostdynamicandfastpacedindustrieswithseveralplayersenteringthe market.Butallofthemhavenotyettastedsuccessbecauseofheavy initialinvestmentthatarerequiredtobreakevenwithother companiesandcompetewiththem.TheIndianRetailIndustryisgraduallyinchingitswaytowardsbecoming themostboomindustry. The total concept and idea of shopping has undergone an attention drawing change in the format and consumer buying behavior; ushering in a revolution in shopping in India. Modern retailing has entered into the retail marketin India as is observed in the form of bustling shopping centre, multi-storied malls and the huge complexes that offer shopping, entertainment and food all under one roof. Largeyoung working populationwith median ageof 24 years, nuclear families in urban areas, along with increasing working women population and emerging opportunities in the services sector are going to be the key factors in the growthoforganizedretailsectorinIndia. In India, the vast middle class and its almost untapped retail industry are the key attractive forces for global retail giants wanting toenter into newer markets,which in turn will help the Indian retail industry togrowfaster. Indian retail is expected togrow25% annually. In this study we attempt to identify items for retail challenges (RC) and organizational performance (OP) based on strong literature support in consultation of practitioners and consultants in the field of organized non-livestock retailing (NLR). The retail challenges so selected were classified with factor analysis using principal component analysis with varimax rotation. Here, the retail challenges are classified into four categories as: strategic challenges, environmental chal-lenges,customer challenges, and supply chain (SC) challenges. The six identified items for organizational performance are: market performance, SC competencies, stakeholder satisfaction, innovation and learning, customer satisfaction, and financial performance. A confirmatory model was tested using structural equation modeling to prove hypotheses: strategic challenges, environmental challenges, and customer challenges influence SC challenges and all the challenges affect organizational performance. The data were collected from organized non-livestock retail players operating in north India. All the results are validated using rigorous statisticalanalysis. Keywords:OrganizedRetailing,OrganizationalPerformance,RetailChallenges,StructuralEquationModeling,FactorAnalysis JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence Overcoming the Challenges of Managing Sustenance and Growth in the Era of Economic Downturns with the help of youth marketing strategies in India Youth Marketing is a term used in the marketing and advertising industry to describe activities to communicate with young people, typically in the age range of 12 to 34. Youth marketing strategies commonly include television advertising, magazine advertising and online marketing. Other common youth marketing tactics include entertainment marketing, music marketing, sports marketing, event marketing, viral marketing, school and college programs, product sampling and influencer marketing.Youthhavealwaysbeenaprimetargetformarketers.MoresoinIndianow,astwo-thirdsofthepopulationisbelow35 yearsofage.65%,orover700millionIndians,areyoungerthan35years.Ninemillionpeopleintheagegroupof12-25yearsfrom the top 35 cities (one million plus population) in India are the ones setting the trends and raising the aspirational value for one- billion-plus Indians. Another criticalfactoris the increasing buying power of this segment. A distinctive feature of Indian youth is that they are extremely tech savvy. Many marketers are aggressively targeting the tech-savvy generation. Luxury brands that earlier focused on the well-heeled have become youth conscious. In this race to target the youth, most marketers are turning to youth-friendly digital platforms for more focused access. Not just youth brands such as MTV and Nike, even financial companies are going digital in their advertising. Even when marketers manage to reach this critical consumer segment, retaining their interest remains a challenge. “The main question on the mind of marketers targeting 18-35-year-olds is, ‘how do I reach out to this group’ and, more importantly, ‘how do I keep them engaged with my product’. Youth are much more willing to experiment, especially with new media. The challenge for marketers is to convert today’s youth into tomorrow’s preferred customer. Successful marketing to youth should entertain and empower, be very responsive to their queries and needs, give them free reign in designing Web content, and engage them in quick-win SMS-based competitions. Marketing campaigns should have functional, educational and emotional components built in tosuccessfullytarget youth. The world over, marketers are grappling with the tremendous challenge and opportunity that is simultaneously being provided by this generation. The danger for India is, of course, that the potent mixture of aspirations created by TV, computers, and marketers in the hearts of India's young could overheat,andthesocialcauldroncouldboilover. The7P’sofyouthmarketing 1. Provocation-Youthtodayexpectbrandstohaveastrongprovocativepointofviewonculture. 2. Participation-Everyyouthmarketerneedstothinkabouthowtheydesignsocialexperienceswhichinvolveyouth,treating themaspartnersinproduction,ratherthanadestinationpointformessages. 3. Play-BrandsneedtothinkoftheinteractionstheyhavewithyouthintermsofaGAME.Theyneedtoencourageandcreate gameplayatalllevels.It’sfarmoreaboutyourbrandsgame,thanyourbrandsstory. 4. Portability-Every communicationexperienceyoucreatehastobeportable.Whetheritbecreatingcontentthatbuildsand spreadsviamobileorusefulutilities. 5. Purpose- Youth swarm towards brands or product that help them connect with each other as well as help give their lifestylesgreaterpurpose. 6. Propagation- Brands have to develop propagation strategies and think about designing ideas which have inherent social interfaces. 7. Media Positive- Instead of thinking about filling media channels, think about how you can create media yourself, turning productsthemselvesintothemarketing. 8. Personal-Itsoundsobvious,butbeingpersonalandintimatewithinthesocialcontextiscritical. Dinesh Kumar Risk Analyst Religare Securities Ltd. Noida Hina Sharma Assistant Professor GLA University, Mathura
  • 39 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 38 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 The subject of this paper is the role of what are termed Public Private Partnerships for investments in infrastructure and of the connected relationship between Public Administration and Enterprises, also in the light of Community law on Public Contracts and Concessions. The aim is that of seeking mechanisms to improve the efficiency of single contracts by having recourse to the economic analysis law as a methodology of interpretation and, in particular, restoring the relationship between public administrationandprivatepartner. The Public Private Partnership is considered also under the aspect of the potential elusiveness of the principles and rules of competition as sanctioned at Community level. To provide incentives for the involvement of private capital for public purposes, on the one hand, administrations are tending to seek new contractual figures and more streamlined and flexible award procedures for the selection of the private counterpart, while on the other hand the lawmaker is endeavoring to introduce legislation to facilitate the pursuing of this aim. The question is however that of establishing the limits of admissibility and the premises of legitimacy of this process in harmony with the over-riding principles, at Community level, of safeguarding competitionandequalityoftreatmentamongthevariousentrepreneurs. KeyWords: Public Administrationand Enterprises,Project financing, competitive discussion, economicactivitiesand traditional approach. Relationship of collaboration” – A Pragmatic Study of Economic activities Dr. Neeraj Sanghi Associate Professor IMS – Lal Quan Ghaziabad Dr. Gaurav Bansal Associate Professor R.D. Engineering College Ghaziabad Analysis of Arbitrage strategies by formulizing of Market Timing Dr. Neeraj Sanghi Associate Professor IMS – Lal Quan Ghaziabad Dr. Gaurav Bansal Associate Professor R.D. Engineering College Ghaziabad We suggest a new test of market timing, based on the randomization of the dynamic risk structures of hedge funds. This test enables us to assess the capability of managers to time the market (positive market timing) or to evaluate the costs inherent to some negative externalities, such as the disclosure to liquidity risk, sensitivity to risk aversion or the negligence of leverage (negative market timing). By applying this test to more than 500 individual hedge funds, we show that the performance attribution of various investment styles cannot be restricted to the two usual tools of fund analysis, i.e. alpha and beta. Our results show that market timing is a major act driver for Managed Futures, CTAs and certain Global Macro funds. On the other hand,leverageneededtocapturealphaandincreasedriskaversionsensitivityinrelativevalueandarbitragestrategiesinducesa cost in terms of performance, formalized by negative market timing. We also show that within the different hedge fund styles, goodmarkettimerstendtodeliverloweralpha. Keywords:hedgefunds,markettiming,dynamicstyleanalysis,performanceattribution,Randomizationtest JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence Impact of Micro Finance on Women & Children With Special Reference To India & Bangladesh Lalit Kumar Sharma Asst. Professor ITS, Mohan Nagar, Ghaziabad Over the past two decades, microfinance activities have spread across the globe, reaching millions of poor households with tailored financial services. Current estimates vary between 133 and 190 million microfinance borrowers worldwide. This growing importance has resulted in a vast number of research and evaluation studies, including impact studies. Initially, microfinance usually meant microcredit for working capital and very small investments, but increasingly it has been broadened toincludesavings/deposits,paymentservices,providingtrainingandencouragingmicroentrepreneurship. This paper deals with the effect of microfinance on women and children. Among the poor , the poor women are most disadvantaged – they are characterized by lack of education and access of resources, both of which is required to help them work their way out of poverty and for upward economic and social mobility. The problem is more acute for women in countries like India and Bangladesh where they are bounded by various social and cultural norms. They lack in all the aspects of life and really need support to come out of their present miserable condition. So this report presents how the different aspects of women and children such as poverty, mobility, education and health of children, control on household income etc have got affected due to services and programmes offered by the microfinance institutions. It not only provides the positive impact of microfinanceinstitutionsbutalsothenegativeimpactthattheycanhaveonconditionofwomenandchildren. Keywords:Microfinance,EffectofMicrofinanceonWomen&Children. This paper discusses the difficulties associated with measuring entrepreneurship in developing countries. Three important dichotomies in the research on entrepreneurship are discussed: formal-informal, legal-illegal, and necessity-opportunity. Several common measures of entrepreneurship are outlined along with their relevance to developing countries, including self- employment. The implications of the current understanding of entrepreneurship are discussed with respect to institutions and economicdevelopment. Keywords:entrepreneurship,economicdevelopment,data,institutions Measuring Entrepreneurship in Developing Countries Mrs. Ratna Baranawal Associate Professor MBA Department ABES Engg. College, Ghaziabad
  • 41 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 40 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 Viral Marketingis a strategy thatencouragesindividuals topass on a marketingmessagetoothers. This helpscreate exponential growth and like viruses, this strategy takes advantage to explode the message to thousands and millions. Viral marketing is a marketingphenomenonthatfacilitatesandencouragespeopletopassalongamarketingmessage. Viral marketing is a term coined to define the productive ways a marketing message is made available. And corporates are using the medium tocirculate brands and brand messages.The idea has caught on like a virus, as efficiently as Information Technology hasenteredhouseholdsandbusinesses. In this paper efforts have been made by researchers to study concept of viral marketing, its characteristics, advantages and disadvantages,examplesofcompaniesusingviralmarketingandfutureofviralmarketing. A Study of Viral marketing Mr. Sanjay Manocha Assistant Professor BVIMR, New Delhi Dr. S. C. Chitkara Director, New Era College of Science and Technology Ghaziabad The knowledge of the traditional practices is being highlighted for resolving many issues in the present day context related India’s banking system. While during the last six decades, Indian banking system has come a long way traversing an arduous and tortuous path, it would perhaps be appropriate to assess in retrospect and take stock of how far we have come from where we started and what remain is to achieve. This paper is an attempt to appraise one such master treaty, the Arthashastra, and bring forth some of its salient features pertaining to banking system in ancient times in India. From the point of understanding the economic policies advocated by Kautilya, also known as Chanakya and Vishnugupta, around 350 B.C., Arthashastra literally means ‘Scripture of Wealth’. Many modern concepts of economics underlie much of Kautilya’s discussion is Arthasastra. It has affected the productivity, profitability and efficiency of the banking system in India to a large extent. Kautilya presents a holistic perspective as he synthesizes the eastern and western approaches on Indian banking system. The research methodology adopted is secondary data. At the end, paper focus on what are basics ideologies on which our Indian banking system depends whicharefruitfulintoday’sscenario. Indian Banking System: Comparative Study of Past and Present scenario Pallavi Paliwal Assistant Professor MBA Coordinator Maharaja Agrasain Institute of Technology, Ghaziabad JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence Companies who work hard to meet the needs of their employees can cultivate a work atmosphere conducive to productivity. Human resource management is the best way to achieve this. Being able to plan for the needs and future of employees can help to improve the rate of skilled employees who chose to remain working for a company. And by retaining employee in the organizationcompanycanreducetheresourcesthattheyareusingforhiringandtrainingtheemployee.Whencreatingahuman resources plan, it is important to consider employees may need and what the company can reasonably supply. Some of the companies can afford Training and benefit program for employee but some of them may not. This does not mean that a smaller company should not engage in strategic human resource management. Providing specialized on-site training, even if provided byseniormembersofthecompany,andofferingone-on-oneassessmentandcoachingsessions,canhelpemployeesreachpeak performance rates. An important aspect of strategic human resource management is employee development. This process begins when a company is recruiting and interviewing prospective employees. Improved interviewing techniques can help to weed out applicants that may not be a good match for the company. After being hired on, a strong training and mentoring program can help a new member of the staff get up to speed on company policies and any current or ongoing projects they will be working on. To help employees perform at their best, a company can follow up with continual training programs, coaching, and regular assessment. Investing in the development of its employees can allow a company to turn out more consistent products.Strategichumanresourcemanagementisessentialinbothlargeandsmallcompanies.Insmallcompanies,thismaybe as simple as the owner or manager taking a little time every day to observe, assist, and assess employees, and provide regular reviews. Larger companies may have a whole department in charge of human resources and development. By meeting the needsoftheemployeesinawaythatalsobenefitsthecompany,itispossibletoimprovethequalityofstaffmembers.Takingthe efforttoprovideemployeeswiththetoolstheyneedtothriveisworththeinvestment. ThisstudyisproposedtoundertakeimportanceofstrategicHumanresourcesmanagementinlargeaswellassmallcompaniesin general. It is beneficial for the employees who are working for the organization and company must work for the development of theiremployeelastbutnottheleastretentionofthebestemployeeintheorganizationandhelpotherstogetmotivatedtowork fortheorganization. Employee Retention through Strategic Human Resource Management Chandrani Ganguly SRIRAM Business School Greater Noida After several years of impressive growth, the world economy encountered an equally impressive downturn starting in the third quarter of 2008, triggered by financial fragility and imbalances generated by speculative lending and investment and debt- driven spending in major advanced economies (AEs), notably the United States (US). Initially,there was widespread optimism that growth in the developing and emerging economies(DEEs) of East Asia1 would be decoupled from the difficulties that pervadedAEs,andtheregionwouldcontinuetosurgeaheadasanautonomousgrowthpole Economic downturn resulted in the collapse of large financial institutions the bailout of banks by national government and downturns in stockmarketaround the world .. The currentglobal economicslowdownhas its epicenter in the United States (US) but the contagion is being witnessed in all major economiesof the world.Several countriesare experiencingrapid contraction in their Global Domestic Product, rising unemployment levels and an overall slowdown in the pace of investment activity . If we consideredtheexampleofIndiancompaniesthatwhatarethemajorimpactofdownturnonIndiancompaniesthanwefindthat it affects the employment scenario in India., which is the bigger challengefor our economy. In fact, the rising joblessness in India has assumed worrisome proportions. With overall economic growth sharply slowing down, the ranks of those people without work are growing in number. With the global slump, the fortunes of those who work in the export industry have become equally How To Survive in Slowdown Storm ? Shyamali Dubey Assistant Professor Accord Business School
  • 43 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 42 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 bleak. The negative trend in the business results not only in job loss but also reduction in the salary or compensation of the employees. Their is a huge loss of employment in all the industry sectors like mining, textiles, metals, gems and jewellery, automobile, transport, IT/BPO etc. The global outlook is bleak and recovery is still far.The current global financial turmoil has hit almost all the economies around the world deeper than anticipated. Industries globally are impacted by the slowdown. The government of India has taken lots of step to come out from the economic recession. The measures to relax the fiscal constraint to permit a significant increase in investment necessary to arrest and reverse the current deceleration of growth without sacrificing programmes for improving social services and providing social protection have become more compelling and urgent than ever. This calls for a strong restraint in acceding to numerous demands for tax relief, special assistance and bailouts from different groups claiming to be affected by the crisis. Such relief must be discriminating, temporary and kept to the minimum. The focus of fiscal policy must be on reviewing policies and making such changes as will protect the interests of growth over the longer term .In the shadow of the global economic slowdown, it’s a good sign to see that the majority of the entrepreneurs surveyedarecautiouslyoptimisticaboutthefuture.Thereareproblemstobetackled,suchasthependingresolutionofEurope’s debt crisis, rising operating costs, and limited access to financing. These are real and pressing challenges. However, it’s always true in the business world that a crisis can be turned into an opportunity. So we have to emphasize on that how we convert this problemintoaOPPORTUNITY. So, we have to considered skill, techniques , strategies etc by which we can maintain sustenance & growth in corporate sector. It is depending up to some extent as per industry in market because as in recession of 2008 although all sector suffered but same time there are some sector and more important employee working those organization have maintained their sustenance & growth as well.. Besides understanding the big picture, optimizing operations is essential to coping with the global economic slowdown.So, in downturn its important to retain employees because a high performance team is key for sustainable growth. Adopting the concept of strategic positioning is one of the way for corporate houses to remove the problem of slowdown.It is one of the cornerstone of understanding the business strategy However, unchanging strategic position is not the problem of every answer Whether a change is necessary depends on one’s resources, capabilities and conditions.”One-size-fits-all does not apply here” .Now the main question is that to understand the relationship between recession and innovation Many management gurus are advocating that this is a wonderful opportunity to intensify our efforts on R&D and innovation.. Therefore, innovation and R&D should occupy a dominant portion of the efforts toward transforming the economic downturn into a bundle of opportunities. We can do some of these things at a considerable discount: starting a new business, acquiring another company, investing and possibly launching a disruptive technology, developing new products or evolving additional value-added services, reinforcing the customer connectitivity, institution building, talent management, reengineering enterprises, evolving and nurturing less dominant research areas and related innovations, supporting future technologies, launching new academic disciplines, integrating supply chains with unprecedented complete SHOCK (Synchronization, Holistic planning and strategies, Organizational-network, Collaboration and coordination and Knowledge economy). The more serious the problem, the higher should be the deployment of corrective measures. Meditationis recommendedin India toovercomean individual's depression and also in the case of organizations. Self-introspection helps. Similarly, organizations can concentrate within – very carefully and consciously looking at every minute change happening inside and continue to do so until the turbulencesettles.Setthemostsoothingnewrhythmwithintheexistingprocessesandsupplychains.Processredesign,product re-configurationand deployment of new value-added features may help. Synchronizationis needed for all decisions and actions through out the supply chain; holistic planning and strategies involve a complete rather than a piecemeal approach; organizational network involves an integrated yet flexible framework for decision making, which is supported by information and communication technologies; collaboration and coordination are required for a conflict-free supply chain network; and a knowledge economy is the need of the hour. Many believe that during this crisis of downturn and depression, it is easier to manage innovations, both at product and process level. For process innovation, we need the involvement of employees in redefiningtheirroleandresponsibility,alongwithprocessredesigntooptimizetheuseoforganizationalresources Apart from all these things one need to be innovative, man need to have clear vision and mission. Should be well aware concept Management by Objective, should be very clear about SWOT, Industrial requirement, Updation of global scenario, market requirement, Segmentation, Utility level of customer or corporate. These all things help one to maintained his growth and sustenanceindownturnofeconomicera. Keywords-Economicrecession,slowdown,sustenance,synchronization,innovationetc. JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence Asset Pricing Models have been commonly used techniques in the Global Investment world for calculating the required rate of return of risky assets. Capital Asset Pricing Model and the Arbitrage Portfolio theory are the main models which are used for the assetpricing. This paper investigates the applicabilityof CAPM and APTmodel in the Indian FMCGSector companiesand tried to find out the plausible reasons of the deviations from the theories. In this study we examines the Capital Asset Pricing Model (CAPM) and APT( ArbitragePortfolio theory) for the Indian stockmarket using monthlystockreturns from 29 FMCGcompanies ofBSE500IndexlistedontheBombaystockexchangefortheperiodofJanuary2008toDecember2011. Keywords: Asset Pricing Model, Capital Asset Pricing Model, Arbitrage Pricing Model, BSE ( Bombay Stock Exchange), beta, risk freerate,systematicrisk Empirical Analysis of CAPM and APT models in FMCG companies listed in BSE Stock exchange Nishu Goyal MBA Student ITM University, Gurgaon Shashi Gupta Assistant Professor ITM University, Gurgaon Asset Pricing Models have been commonly used techniques in the Global Investment world for calculating the required rate of return of risky assets. Capital Asset Pricing Model and the Arbitrage Portfolio theory are the main models which are used for the assetpricing. This paper investigates the applicabilityof CAPM and APTmodel in the Indian FMCGSector companiesand tried to find out the plausible reasons of the deviations from the theories. In this study we examines the Capital Asset Pricing Model (CAPM) and APT( ArbitragePortfolio theory) for the Indian stockmarket using monthlystockreturns from 29 FMCGcompanies ofBSE500IndexlistedontheBombaystockexchangefortheperiodofJanuary2008toDecember2011. Keywords: Asset Pricing Model, Capital Asset Pricing Model, Arbitrage Pricing Model, BSE ( Bombay Stock Exchange), beta, risk freerate,systematicrisk Revival of the PIIGS Countries from the Era of Economic Downturn Anirudh Mehrotra Research Scholar Symbiosis Law School, Noida Shambhavi Shukli Research Scholar Symbiosis Law School, Noida Indian economy grows with the pace of 7-8% as compare to 2-3% growth of developed countries. India's economic growth has significant role in growth of agriculture, industry and services. The Indian market undergoing economic reforms since the early 1990s in the move to liberalize the economy to get benefit from globalization. In this paper we analyses effects of recession on economic growth in post economic reform era. The comparisons of growth of Indian economy after and before recession shows close relation between recession and growth of developing countries. Whereas its effect is not as much on Indian economy as comparetodevelopedcountries. Challenges to Maintain Economic Growth During the Recession Suman Assistant Professor Haryana College of Education, Sirsa
  • 45 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 44 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 SlowgrowthinIndiamightbeattributedtohostoffactorslikestructuralbottlenecks;lowinvestment;persistentlyhighinflation; high level of debts, lack of resources; poor infrastructure development, weak government policies and poor governance. The India has not been able to make rapid structural transformation. Service Sector in also not making any worthwhile strides. Right nowthebiggestchallengefacingIndianeconomyisinflation.And,asfarasinflationisconcernedthedropininvestmentinWorld market and economic activity would help India in managing its price situation. Since, Europe and the US are stuck in their own problems and interest rate on government bonds in Europe and the US are falling the chances are that the investors will face India and other emerging markets where interest rate are much higher as compared to the developed world. As far as, growth- rates are concerned India growth rate at 8% looks more attractive than most developed countries. I do not think there is a need to worry about INDIA growth rate since our main problem is inflation and it is inflation which has hold India growth momentum. Moreover, India looks more concerned with domestic demand however fall in exports is a concern form the point of view of balanceofpaymentsbutimportscanaccommodatethedemandpressureduetorisingfiscalexpenditure.Sinceglobaleconomy and demand is weak India should see the present crisis as an opportunity to relieve domestic demand for food. If India can not grow 10% then the problem must be attributed toinflation and not externaleven There are also signs of structural retrogression intheeconomywhereconfidenceoftheinvestorshasnotbeenenoughandsustainableduetowiderangeoffactorsthatneedto be deliberated and identified properly. Social sector development in India has been highly challenging. Poverty Ratio has been above 40% (UNDP Report) in India during 2010. Incidence of unemployment has also been very high various other indicators suggest low level of human development in this Indian Economy. Some of these are Birth and death rates, Woman Empowerment, Literacy, SaxRatioetc. All these require through understanding in Changing Framework. In this paper wetries to providerecommendationandsuggestiontoSustainingandfastgrowthofeconomy. GDP Growth and Challenges of Managing Sustenance Ankit Bindal MBA Student SMU, Noida Dr. Amit Agrawal Lecturer Government College Champawat The main purpose of this paper is toconstruct an optimal portfolio by applying Sharpe’s single-index model. The presentstudy is based on the secondary data. For the purpose of constructing an optimal portfolio, a sample of thirty stocks listed on Bombay Stock Exchange (BSE) was selected in this study. BSE Sensitive Index (Sensex) has been used as market index. Daily closing prices of selected stocks as well as market index for the period of April 2006 to March 2011 were used in this study. A unique cut off pointwascomputed.Theresultsofthestudyhavebeenconstructedanoptimalportfolio.Thefindingsofthestudywillbeuseful forinvestorsandpracticallyrelatedforthepurposeofinvesting. Keywords:StockMarket,Sharpe’sSingleIndexModel,OptimalPortfolio,Beta Application of the Sharpe’s Single Index Model for Optimal Portfolio Construction Meenakshi Rani Research Scholar Department of Commerce Kurukshetra University, Kurukshetra (Haryana) JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence Generally it is presumed to be easier said than done to achieve turnarounds in organizations which are big in size or operating in the service sector. Same is true in case of Indian Railways which is one of the vital components of infrastructure required for continuous progress and development of the Indian economy. In an organization of such a sheer size as Indian Railways, the operational efficiency is the major pillar on which the financial status and development of the organization stands. The Turnaround phenomenon ofIndianRailway’soperationaland financialperformancehasinceptedfromaseriesoffinancialcrisis thatstarted in mid nineties,aggravated in late ninetiesand early 2000 years tothe visible turnaround during 2004-08. Railways’ turnaround was not merely a result of commodity cycles or a booming economy, but structural change resulting in significant gains in operational efficiency. Enhancing the effectiveness and efficiency of the Indian Railways requires a complex multi pronged approach because of the inter-dependent and interwoven structure of Indian Railways functioning. Indian Railways’ operational effectiveness is mainly reflected in the indicators of utilization of major inputs in producing the traffic outputs. Railways’ turnaround was not merely a result of commodity cycles or a booming economy, but certain competitive and innovative, operational-structural initiatives resulting in significant gains in operational efficiency. This research paper is a conscientious effort to undertake a diagnostic study of the operational efficiency of Indian Railways apropos to its turnaround and innovative practices and will suggest measures to ensure sustainability of the turnaround in the light of current economic slowdown. The study statistically analyzes the major quantitative parameters that have an impact on the operational efficiency ofIndianRailwaysduringthepreandpostturnaroundera. Keywords:IndianRailways,OperationalEffectiveness,Turnaround Sustainability of Turnaround for Achieving Consistency in Operational Efficiency: A Study of Indian Railways Dr. Niti Saxena Assistant Professor Jagannath International Management School Kalkaji, New Delhi. Milton Friedman, Nobel Laureate in Economics once asserted that the sole aim of a business is and should be the maximization of shareholders’ value. Social missions, according to him, are the responsibility of individuals, social organizations and the government. The present thinking of people is, however, different from that of Milton Friedman. Even the largest of the large modern corporate has attained the present size due to full support of shareholders, suppliers of long-term and short-term assets, lenders, suppliers of raw materials, employees, government, the local community and society at large, which includes present and potential customers too. Every firm is so dependent on its social environment that it can neither survive nor grow without full social acceptance and approval of all the constituents of the environment in particular, society at large, and the government ingeneral. The objective of this research paper is to connect all possible dots of corporate social responsibility and focus on the issues and challenges involved in Indian perspective. The methodology of the present study relied on review of secondary data sourced fromjournals,magazines,articles,andvisittotheselectedsitestowitnessCSRpractice.Thestudyrevealedthatthereisabridge that separates Corporate Social Responsibility and Corporate Anthropological Activity in India. The focus of CSR is largely confined to community charity-based projects. While this may have been relevant for the historical context in earlier times, the Making Sense of Corporate Social Responsibility: Issues and Challenges in Indian Perspective Mr. Kaoshal Kishor Kumar Student Delhi School of Professional Studies and Research, Delhi Ms. Shipra Singh Assistant Professor Delhi School of Professional Studies and Research, Delhi
  • 47 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 46 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 current thinking of CSR has moved beyond philanthropy to in fact encompass all internal and external segments of business operations. KeyWords:Shareholders’value,CorporateSocialResponsibility,CorporateAnthropologicalActivity,Philanthropy. The global economy is experiencing a sovereign debt crisis that is spreading rapidly across the euro region and threatening severalWesterneconomiesincludingGreece,Ireland,Italy,PortugalandSpain.Thisisthesecondtimeinlessthanfiveyearsthat rich countries have been responsible for pushing the world into dangerous waters. However, while the 2008-09 global financial crisis was triggered by the insolvency of US financial institutions, the roots of the current euro crisis can be traced to certain Europeangovernments’inabilitytomanagetheirdebt.Indeed,yearsofexcessivegovernmentexpenditureaccompaniedbylow growth have led to an unsustainable debt burden in Greece, with the risk of a possible domino effect throughout the euro area andbeyond. The euro zone sovereign debt crisis is likely to affect developing countries through two main transmission channels: financial contagion and exchange rate effects. First, financial contagion to developing countries may occur in the form of spillovers through financial intermediaries and stock markets, as well as shifts in investor market sentiment and changes in investor perceptionofrisks. Second,exchangeratemovementsmayalsoposenewchallenges(andopportunities)forthedevelopingworld. Euro depreciation against the dollar may affect trade flows in developing economies in two opposing directions. On the one hand, those countries with currencies pegged to the euro may actually benefit from a weaker euro that makes their exports more competitive in world markets. Also Developing countries still have strong trade linkages with Europe even though the importance of the EU as an import and export partner was slightly lower in 2010 than it was in 2007, before the global financial crisis. Developing countries also have strong financial linkages with European countries. Europe is a big investor in the world economy(includingLICs),withEUForeignDirectInvestment(FDI)outflowsaccountingfora31%shareofglobalFDIin2010. In this paper we will focus on how Indian Exports are effected by the Euro zone Crisis and how is it effecting the other countries alongwiththemeasurestakentodealwiththecrisis. Understanding Eurozone Crisis & Its Impact on Indian Exports Ms. Richa Joshi Faculty School Of Open Learning Delhi University Ms. Nidhi Sharma Assistant Professor Rukmini Devi Institute of Advanced Studies Delhi JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence The concept of glocalization is derived from that of globalization and localization and signifies that companies should not only think globally but also act locally while addressing business functionalities including branding, marketing, advertising and product promotion. Recently, many multinational giants have successfully penetrated into emerging markets due to their productorservicequalitybuttherearecaseswherecompanieshavefailedtoearnprofitsduetolackofglocalizationstrategies. The concept of glocalization is particularly important to the food industry because of the seamless challenges this industry faces due to the typical differences that exist in the food habits of people belonging to various regions/religions/cultures across the globe. There are numerous examples of companies doing extremely well in their local markets, but when they go global, these fail completely. One of the reasons that can be cited is not adhering to the challenges put forward by cultural and regional differences. Like some animals are considered sacred in one region and are consumed heavily in some others.The glocalization strategies also should take into account various cultural andreligious issues like McDonalds and Pizza Hut both modified their menutotakeintoaccountthereligiousbeliefsofHindusandMuslimsinIndia,bynotservingbeefandpork. This is a research paper focuses on multinational food giants and identifies suitable strategies for establishing themselves and gaining market share in a diverse country like India.In this paper I will more focus on how McDonald and Pizza hut enter in a foreignmarketinspitethedifferencesincultureandeatinghabits. Keywords-glocalisation,culture,localisation,strategies,multinationals Glocalisation—Success Mantra of Globalisation Seema Singh Pundir Research Scholar Mewar University, Chittorgarh The burgeoning consumerism in emerging market economies has significant implications for both multinational and local companies. The relevance of sales personnel in any organization has forever been unquestioned as they deliver the ultimate quality of buying experience to the end consumer. Unfortunately though, their position is still devoid of respect that it on an average deserves. The low vocational esteem fructifies the need for developing the concept for raising their morale and, thus, self-concept.Salespeoplewholackmotivationdeliveronlysub-optimalperformance. People’s sense of self-worth, value and dignity is most often determined not only by the kind of support and encouragement they receive from others, but also from how willing they are to be self-examine negative behaviors in their own life and in their culturalgroup.IfIormygroupispracticingself-destructiveaction,alltheexternalhelpwillgofornaught. A company is largely dependent upon the intensity and efficiency of the sales staff for its development, profitability and growth. It is a complex art that requires objectives of both: customers and organizations to coincide. Cataloging of customers, products, and, communication though well structured still require rigorous research to be validated against the test of time and, thus, improved. With international culture being a norm today, diversity is an accepted challenge. Diversity as a phenomenon is ubiquitous. It is more than simply demographics; an assortment of the various perspectives that are brought to the table through unique experiences. Compatibility in the sales team is essential but how to gain and maintain it in a cross-cultural environment is a Managing the SalesWorkforce Diversity Dr. Meenakshi Handa Associate Professor University School of Management Studies Guru Gobind Singh Indraprastha University, Dwarka, Delhi Ms. Jyoti Kukreja Research Scholar University School of Management Studies Guru Gobind Singh Indraprastha University Dwarka, Delhi
  • 49 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 48 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 puzzle that seems to get murkier each passing day. Not everything can be utilized, however, nor is of the same worth and value. But it does have value, even if for no other reason than the effort invested in bringing it forward. Such efforts must be encouraged, for who knows from where the next great idea may come—from a youth, from an elderly person, from an African American,fromasingleparent,fromalesbian,fromahighschooldropout,fromabusinessexecutive,etc.? The essence of multiculturalism, the undergirding concept of multicultural education, is the ability tocelebrate with the other in a manner that transcends all barriers and brings about a unity in diversity. Multiculturalism enables us to look upon the other, especially the ‘Other’ that society has taught us to regard with distrust and suspicion, and to be taken advantage of, not as a “potential predator, but as a profitable partner.” The last part of this definition of multiculturalism—“within an inclusive cultural context”—is most important, because it is here where many people get off and refuse to go along with an inclusive approach to society or to education. Many people fear, multiculturalism will bring in “foreign” concepts and ideas which will astray the populacefromitshistoriccourseandtransformthenationintosomethingdifferentfromwhatithasbeen.Thewordenablehere is important, because what lies behind it is the concept of empowerment—the process of enabling people to be self-critical of theirownbiasessoastostrengthenthemselvesandotherstoachieveanddeploytheirmaximumpotential. Unmistakably, the culture of an organization manifests into customer experience. A huge number of high-performing sales teams hold a strong sense of organization’s goals and priorities with them, although, a considerable gap could be present amid the way the strategy is implemented in the company and the aspect and extent in which it affects sales. Typically, into that gap fallsahugeportionofpotentialvalue. Sales personnel need to be the ‘best psychologists’. They must empathize with clients and while assuming full responsibility for the mutual needs (selling: critical need of sales personnel & product: a similar need to customer) should comprehend what peopledoandthenhelpingthemdoitbetterwithoutanyhassles. Sales person can perform effectively only when the company has the correct marketing strategy in place and the various marketing mix elements support the sales function. For example, advertising fructifies particular function in evoking emotions andfeelingsthroughpromiseofpleasureconnectedtothepurchaseorpossessionofaproduct. Secondly, what would keep them motivated and productive? Selling is a behavioral transaction that may generate consistent customer database. Understanding consumer decision process is crucial. Though needs are ubiquitous but not satisfaction. Varieddegreesofsatiationmaybeperceivedandrealized. The objective of this paper is to address the challenges in managing sales personnel particularly in the context of developing economies with examples of what some of the renowned companies are currently doing in terms of motivation, training etc. of sales personnel. In a cross-cultural milieu, how employees are retained to serve consistent brand experience. In the end, the paper shall conclude with a synergistic suggestive model to be applied in the organizations for reaping the best out of the sales forceofanorganization. Keywords:Empowerment,EmployeeEngagement,GenerationY,VocationalEsteem,Diversity JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence Stress is a priority issue for today’s organization. Each individual undergo different level of stress due to certain factors in an organization.Ifthelevelofstressistoolowthepersoncanbegivensomemoreresponsibilitiestoincreaseefficiencybutkeeping in mind that the stress level does not cross the satisfactory level. If the level of stress is too high certain measures need to be taken to bring it to satisfactory level as too much stress can cause physical illness, marital strain, anxiety, depression and even suicide The paper studies about the various factors that are the major causes for stress in an organization that directly or indirectly affects the motivation level of employees at workplace. The paper focuses more on demographic factors leading to stress and reflects the relation between level of stress with different age groups and marital status etc. The empirical study focusesonemployeestresslevelandimpactonworkperformance.Forthepurpose,astudywasconductedwithasamplesizeof 50 from entertainment sector to assess the relationship between these concepts. Four dimensions were used to analysis the effect of demographic factors on stress and motivation level of employees, primary data was collected with the help of questionnaire. Analysis and interpretation was done by using various statistical tools .The findings and suggestions were given whichareapplicableinrelatedindustries. KeyWords:Stress,Motivation,DemographicFactors,Satisfactorylevel An Empirical Study on Role of Demographic Factors on Stress Affecting Employee Motivational Level Megha Jain Assistant Professor Delhi School of Professional Studies and Research New Delhi Farah Ahmad Assistant Professor Delhi School of Professional Studies and Research, New Delhi It is inconvertible reality that global economic downturn has become an unprecedented event across the world. A number of countries are experiencing rapid contraction in their GDP, rising unemployment and an overall slowdown investment velocity. The economic conditions are still extremely fragile. Their so many things went wrong with Indian government during this era of slowdown. Various challenges are before our government to sustain growth and manage the economic crisis in a well and prepared manner. Topmost priority of the government is to take their development policies to the lower level as well as for everybody so that they can be benefited in their full manner. Since July 1991when Dr. Manmohan Singh as a finance minister started process of Liberalisation, privatisation and globalisation, Indian government have taken a giant leap towards bettering export/ import policies. Government have taken various measures to measure foreign exchange risk which is a prime factor in the era of slowdown where various currencies are fluctuating with respect to the other countries’ currencies. Measuring and managing exchange rate risk exposure is important for reducing firm’s vulnerabilities from major exchange rate movements which could adversely affect profit margin and value of assets. Indian government tries to ease the norms up to level it suits to the exporter but due to lack of proper knowledge about the hedging instruments, exporters were suffering. This paper reviews the opinion of brassware products manufacturers and exporters views about management of their assets due to foreign exchange rate volatility and awareness of derivatives instruments available for managing risk and their proper use. The type of risk and problems they are facing because of exchange rate volatility. As Moradabad & Rampur traditionally remains the major attraction point for their brassware handicraft products, so their exist more than 7000 small and medium level exporters, they tries to exploit the strength of this area i.e. ‘Skilled worker’ specialised in the making brassware products. Attractive and innovative designs are the key attraction point of the brassware utensils produced here. This paper provides the information regarding the awareness level of exporters related to Hedging the risk of foreign exchange volatility in various transactions. This studywasundertakenon80exportersofMoradabadandRampur. Keywords:Hedging,ForwardandFuturecontract,Exporters,MoradabadandRampur. Management of Foreign Exchange Risk in the emerging market of India- A study of Brassware market of Moradabad & Rampur Madhur Raj Jain Associate Professor, Jagannath International Management School, Kalkaji, New Delhi Prof. S.L.Gupta Professor, Kurukshetra University, Kurukshetra
  • 51 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 50 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence People are now days do try to think differently and that’s the reason why they want to do something extraordinary. Entrepreneurshipisoneofthefieldswherethisdifferentthinkingisneeded. Forthismatter,tostudythecurrentpositionofsmallscaleindustry,andthescopeofbeinganEntrepreneurinsomeindustry,we haveselectedAligarh’sLocks&HardwareIndustry. We visited a few enterprises in Aligarh where manufacturing of Locks & Hardware were done. After analysis their work procedure, we have found that among all those people who business, Entrepreneurs who do outsourcing have better chance to establishthebusiness. Therefore, in this Research article, we have tried to highlight a number of ways by which a person can become an Entrepreneur andthattoowithanominalamountofcapitalrequired. KeyWords:Entrepreneurship,SmallScaleIndustry,Scopeofentrepreneurship. Becoming an Entrepreneur by Outsourcing: A Case Study of Aligarh’s Locks & Hardware Industry Rohit Kumar Asst. Professor SD College of Management Studies Muzaffarnagar Dr.Sandeep Mittal Associate Professor SD College of Management Studies Muzaffarnagar. The global economic crisis, and the downturn which Indian industry and business is experiencing, are not novel events. They occur periodically, though the intensity varies.Our economy is proof-positivethathistoryrepeatsitself. Over the course of every decade or so, the economy seems to slump, recover, and boom. As we await the up-swing, leaders and managers must tend to themselves and employees to ensure that fear, turnover, "survivor's syndrome," lack of hope, and sinking morale don’t? sabotage performance or damage the company culture. Once these occur, the company's prospects for turning the corner of this latest downturn sink, too. The paper focuses on the ways in which we can change the mindset of people involved in any activity. Both leaders and employees can take steps to encourage positive mindset management and peak performance during this current cycle when the economy seems listless. This theoretical paper will shed light on what leaders, stockholders, governmentandmanagersshoulddotoovercomethisso“downturnsyndrome”. Keywords:downturnsyndrome,maximization,overallefficiency. Constructive Development, Self monitoring and correcting workplace deviances –An insight during Downturn Dr Rakhi Gupta Assistant Professor Pranveer Singh Institute of Technology, Kanpur Dr. Divya Gupta Choudhry Assistant Professor DSPSR, Indraprastra University New Delhi Dr S.N.P Gupta Associate Professor DAV College, Kanpur Mrs. Arkaja Garg Assistant Professor DSPSR, affiliated to Indraprastra University New Delhi Just noticeable difference (J.N.D) is a concept studied under the discipline of Consumer Behaviour. J.N.D is the minimal difference that can be detected between two stimuli. This understanding of J.N.D is being used to the maximum benefit by organizationsmarketingFMCGproducts. Being fully aware of the dynamics of consumer buying behaviour for such products the companies are shrinking gram mages while maintaining constant prices. Despite these reductions there has been growth in the purchase of these impulsive products .This concept has really come in handy for the marketers in this age of spiralling costs and increased customer sensitivity to price increases. This research paper aims to understand the intricacies of this concept, its effects on the consumer purchase decisions and how this concept has come to the aid of marketers in this era of cut throat competition. Also it is of interest to understand whether thisconceptcanbeofusetomarketersofotherproductcategoriesorisitlimitedtoFMCGproductsonly. Keywords:J.N.D,Weber’slaw,consumerdecisionmaking. Concept of J.N.D: A boon for FMCG Marketers Shruti Dayal Faculty IMT-CDL, Ghaziabad Conceptualisation of sustainable development is based on a value based approach within particular social, environmental and economiccontext thatprovidesabasisforestablishingeducationforsustainabledevelopment.Moralvaluesareproposed tobe at the centre of teaching and learning in sustainable education. Sustainable educational leadership and improvement preserves and develops deep learning for all that spreads and lasts, in ways that do no harm and indeed, create positive benefit for others aroundus,nowandinthefuture. There are two important change forces affecting education today. First is regard to raising the length and quality of education thataredrivinghumancapitaland isseenasimperativeincontemporaryknowledgesocietiesthataimforsustainableeconomic growth and prosperity and secondly, education is also viewed as one of the keys for raising the level of understanding of the fragilityoftheglobalecologicalsituation. This paper addresses the issue of how sustainable development should be conceptualised to help assist in increasing access to quality education and the role of teachers and challenges faced in the implementation of education for sustainable development. Keywords:Sustainabledevelopment, leadership,valuechange, learningactivities. Sustainable Development and Education in a Globalized Environment: A perspective Ms. Shikha Singh Associate Professor Jaipuria Institute of Management, Ghaziabad
  • 53 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 52 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence India, being a developing country, has been growing with GDP at the rate of 7% approx. One of the major factors which contribute towards Indian Economy, is “Indian Aviation Sector”. The present study has been carried out with the objective of analyzingtherevenueproductivityofaviationsector.&it‘scontributiontowardsIndianeconomy. Butthesedays,Indianaviationsectorisonslowtrack,mostofthecompanieshavebeenfacingproblemseveninsustaininginthe market. This paper is basically a conceptual paper based on secondary data. It throws some light on the factors which affect the strategiesandprofitsofthecompanies,whichhavebeenworkingunderlocalaswellasunderglobalpressure. An Eye upon an aviation sector in India With special reference of “Kingfisher Airlines” Ms. Rakhi Sharma Lecturer IMS,Noida Merger and acquisition being an external growth strategy carries both high risk and high return. If it is carried out in a premeditated way, it can create ample of value for the organizations. Mergers and acquisitions (abbreviated M&A) refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or new location. M&A as a strategy is also constructive at the time of economic downturn. Nowadays even banks have started employing this strategy for achieving higher growth. With pursuing this strategy, organizations achieve synergy benefits, tax benefits, market power, economy of scale, operational and financial efficiency and so on. The present study also looks into the similaraspectwithreferencetoadealofBankofRajasthanmergingwithICICIbank.Properanalysisofthedealhasbeendoneto know its impact on various stakeholders and how it has created value for them. The Deal has been a win-win situation. The ICICI bank achieved their objective of expansion in western and northern region of India by expanding their ATM and branch network and also shareholders of BOR gained a huge hike in their wealth. Many mergers and acquisition have failed in the past but this strategycangiveimmenseresultsiftheduediligenceandintegrationprocesshavebeencarriedoutflawlessly. Keywords:MergerandAcquisition,ICICIBank,BankofRajasthan,ValueCreation M&A Growth Strategy Creates Value for the Organizations: A Study of Bank of Rajasthan Merging with ICICI Bank Sakshi Saxena Lecturer Department of Management Delhi Institute of Advanced Studies,Delhi Himanshu Puri Lecturer Department of Management Delhi Institute of Advanced Studies, Delhi Corporategovernanceisthesetofprocesses,customs,policies,laws,andinstitutionsaffectingthewayacorporationisdirected, administered or controlled. Corporate governance also includes the relationships and the many stakeholders involved and the goals for which the corporation is governed. The principal stakeholders are the shareholders, management, and the board of directors. Other stakeholders include labor (employees), customers, creditors (e.g., banks, bond holders), suppliers, regulators, andthecommunityatlarge. This article reveals various reasons for failure of corporate governance, corporate governance consists of various examples of corporate governance failures like Enron, Satyam, Carbury, Wal-Mart and Xerox. Corporate governance failed in such big organizations. Article also describes various mechanisms of corporate governance like (1) Company’s Act (2) Security Law (3) Discipline of capital market (4) Nominees on company board (5) Statutory audit (6) Codes of Conduct etc. Some factors that influence the corporate governance like Ownership structure, structure of company board, Financial structure, Institutional Environmentetc.Varioussystematicproblemincorporategovernanceandrecentcorporategovernancefailures. KeyWords:CorporateGovernance,Governance,Satyam,Enron,Wal-Mart,Mechanism,PollyPeck,andColoroll Reasons for Corporate Governance Failures Mr. Omesh Chadha Assistant Professor Dept. of Management Delhi Institute of Technology and Management, Sonepat Small and medium-sized enterprises have become an integral and important part of many economies world over. In the current era of globalization, liberalization, privatization and deregulation, SMEs are exposed to several challenges and major among these are-limited capital and knowledge, non-availability of suitable technology, constraints on modernization and expansion, lag of ICT adoption because of financial and technical constraints. The global economic slowdown is further adding more problems to the SMEs. However, with cloud computing such organizations can also take advantage of latest and new developments in information technologies at an affordable cost. Cloud Computing is a rapidly emerging and evolving phenomenon which is expected to fundamentally change the way information technology (IT) enabled services are delivered, maintainedandpaidfor.CloudComputingcanbeviewedasawaytodeliverITenabledservicesintheformofsoftware,platform and infrastructure using internet technologies. Cloud computing is evolving as a new and promising IT strategy that can provide cost advantage, scalability, flexibility and access of the most advanced & latest technologies to even small companies. Its uptake in enterprise environment however, is not without challenges. There are some concerns and fears associated with the adoption of cloud computing amongst organizations. Few of the major concerns that hamper the adoption of cloud computing by the organizations include security, privacy, reliability, availability, loss of control and data lock-in. The primary purpose of this paper istoinvestigatevariousfactorswhicharecrucialasfarasadoptionofcloudcomputingisconcernedamongstSmallandMedium- SizeEnterprises(SME)asfoundintheliteratureandtosuggestanappropriateapproachtobefollowedtousecloudcomputing. Cloud Computing for SMEs in Indian Context Devesh Kumar Assistant Professor & Head Department of Computer Applications Baddi University of Emerging Sciences & Technology, Baddi
  • 55 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 54 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence This economicdownturn has lead toa chaotic situationfor working professionals, nearly in every industry, causingstress. Fewof the individuals manage to sustain the heat of this economic downturn, but others face this heat severely. It has been attempted fromthispapertoidentifythefactorscausesofthisstressviz.RecessionaryJobStress(RJS)ofaworkingprofessional. A sample of 114 working professionals is taken from different industries with minimum 2 years of working experience. Three variables namely environmental variables, organizational variables and individual variables were determined. Environmental variables were further classified as Work Overload, Role Ambiguity, Poor Peer Relation, Unprofitability and Social Status. Organizational variables were further classified as Job Insecurity, Industry Downtrend and Cost Cutting. Similarly, individual variableswerefurtherclassifiedasMaritalStatus,GenderBiasandAge. After conducting various statistical test it was found that out of all the organizational variables work overload, is the major RJS causing factor; of all the environmental factors job insecurity has greatest impact on the working professional; individual factors ofgender,ageandmaritalstatusaretheleastRJScausingfactorsforanyworkingprofessional. Keywords–RecessionaryJobStress,organizationalvariables,environmentalvariables,individualvariables. Causes Of Recessionary Job Stress Swati Aggarwal Research Scholar University of Petroleum and energy Studies The financial industry using information technology has brought rapid changes in the industrial environment. Internet banking and mobile banking that recently publicized not allowing to offering a variety of channel to their customers but also giving their customers the broad selection opportunity. The purpose of this research is to examine the factors affecting the degree of usage of each media such as ATM, phone banking, internet banking, and mobile banking base on the media selection theory, the technology adoption model, and the social influence model. We also examined the selection of the financial channel of customers using different context scenarios. For this purpose data has been collected from 343 people in Korea who have experiencein financial transactions. Byunderstanding the factors thatinfluencethe selection of media used bycustomers when banking,thebanksareabletoofferappropriatemediaaccordingtotheneedsoftheuser. Keyword:MediaSelectionTheory,Mediarichness,BankingTransactionTechnology,Mediacharacteristics. Role of Technology in managing sustain financial growth-A study on media selection preferences by bank customers Dr. Vikas Indoria Associate Professor Jaipuria Institute of Management, Ghaziabad Dr. Pallavi Singh Visiting Faculty Amity Centre of E-Learning, Ghaziabad This is the right time for this paper as Sustaining Growth through Management Education in INDIA, As Higher education especially in management faculty in India stands at a crossroads. Without change, the traditional university structure of educating and training tomorrow’s business leaders is likely to be surpassed and discarded in the increasingly diverse and technological global economy. To provide our students with the talents necessary to compete in this marketplace, we must recognize and acceptthe challenges before us today. Internationalizationof the business school curriculum is no longera luxury. The complexities of worldwide markets must be integrated into the core undergraduate as well as post graduate management educationalframework.Theexistenceofaninstitutionshalldependuponthequalityofeducationandtrainingoffered.Infuture fittest willsurvivefor which quality product service willbe the keyaspect. If weacceptthe challenges before us today, there is no reason we cannot retain our position as the preeminent provider of high-quality educational services for decades to come. So, it is an immediate requirement to shape the management education in accordance with the global changes to improve competitiveness with the total quality management. Therefore, in the present paper, an effort has been made to examine the current education system with special reference to management education system and to find out ways for quality improvementsinthepresentmanagementeducationsystemsothatbusinessschoolsrespondtocurrentparadigms. KeyWords: SustainableGrowth,ManagementEducation,GlobalChanges,Highereducation. Sustaining Growth through Management Education in INDIA:The changing face of management education & challenges for tomorrow Mr.Shanti Ranjan Upadhyay Assistant Professor Institute of Management Sciences (SHEPA), Varanasi (U.P.) The MSME sector is the backbone of the Indian Economy and one of the prime drivers of employment. Despite its apparent success in the last couple of years, Indian MSME sector is facing many challenges. Apart from the traditional problems, they are also increasingly exposed to international competition. Therefore, MSMEs in India – as everywhere else - need to improve their competitiveness by taking a variety of measures. The use of Information Technologies (IT) is one of the important measures, which can greatly help MSMEs in almost every facet of their business. This paper address the needs of the Micro, Small and Medium scale enterprises/establishments and to understand the impact of information technology on their business as well as the challenges, needs and avenues to implement such technology. The objective of this paper is to create awareness about the importanceofinformationtechnologyforMSMEsandexplorethehiddenfactsofinitiativesandgaps. Impact of IT Integration in Managing the Growth of MSMEs in Downturns Mr. K L Sarkar Senior Expert M&E/G M Foundation for MSME Clusters, New Delhi Dr. S. K. Pandey Head-IT & Systems Jaipuria Institute of Management, Jaipur
  • 57 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 56 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence This economicdownturn has lead toa chaotic situationfor working professionals, nearly in every industry, causingstress. Fewof the individuals manage to sustain the heat of this economic downturn, but others face this heat severely. It has been attempted fromthispapertoidentifythefactorscausesofthisstressviz.RecessionaryJobStress(RJS)ofaworkingprofessional. A sample of 114 working professionals is taken from different industries with minimum 2 years of working experience. Three variables namely environmental variables, organizational variables and individual variables were determined. Environmental variables were further classified as Work Overload, Role Ambiguity, Poor Peer Relation, Unprofitability and Social Status. Organizational variables were further classified as Job Insecurity, Industry Downtrend and Cost Cutting. Similarly, individual variableswerefurtherclassifiedasMaritalStatus,GenderBiasandAge. After conducting various statistical test it was found that out of all the organizational variables work overload, is the major RJS causing factor; of all the environmental factors job insecurity has greatest impact on the working professional; individual factors ofgender,ageandmaritalstatusaretheleastRJScausingfactorsforanyworkingprofessional. Keywords–RecessionaryJobStress,organizationalvariables,environmentalvariables,individualvariables. Managing Talent for Sustainable Competitive Advantage Ms. Bhavna Malik Assistant Professor Jaipuria Institute of Management, Ghaziabad Current trends show that for retaining competitive advantage, organizations are actively getting involved in corporate social responsibility (CSR). One of the major attentions of corporate social responsibility (CSR) is on developing an information technology (IT) framework which would enhance environmental friendly practices like recycling of paper, proper disposal of information technology instruments and products. The forces behind green IT framework are the push for reducing carbon footprints by international organizations and the realization by major software organizations on the detrimental effect of their operations on the environment. The green IT framework supports the concepts of the use of renewable energy, proper disposal of IT equipments,adopting of green technologies and greening of data centres. The proposed research is focused on the various green initiatives that have been adopted by various software organizations in an effort to reduce carbon footprint and, whether they are actually implementing these initiatives in their organizations. The research will content-analyze the different software organizations and will present a comparative analysis of the state of green information technology framework. Data collected was analyzed using SPSS. The analysis showed that many software organizations have been involved in one of the green information technology initiatives. It is also observed that the organizations involved in more initiatives are considered to be sociallyresponsiblewhichisbeingreflectedintheircorestrategyandmissionstatement. Keywords: Corporate Social Responsibility, Carbon footprints, Cloud Computing, Grid Technology, Green Information TechnologyFramework,GreenTechnologies,Visualization. Green Information Technology -a Strategy For Socially Responsible Software Companies Suresh B K Assistant Professor Department of studies and Research in Business Administration Tumkur University, Tumkur, Karnataka Hemavathi B N Assistant Professor Department of studies and Research in Information Science Tumkur University, Tumkur, Karnataka The world is changing –perhaps more dynamically than ever before in its history. This new age, lightning-speed leap in the pace of transformation has been enabled by a world which is Integrally connected by four rapid forms of connectivity. These are environment, people, economy and ideas. Out of these economic integration is must for sustainable development. But in India the rural population -the other side of mankind- development in financial literacy followed by inclusion is minimal. rural areas that are the principal target of the government's goal of financial inclusion has only 38% of bank branches and only 40% of the country'spopulationhasbankaccounts. ForIndiaandotheremergingeconomies,wheremorethanhalfthepopulationdoesn't have a bank account, this paper has a message:‘You can'tpull the nationforward with the single horse of financial inclusion; you mustrideintandemwithfinancialliteracyalso’. The study not only tells about the impact of financial literacy but also how consumers use savings, investment and debt managementtechniquesintheirpersonalfinances," Keywords:sustainabledevelopment,financialliteracy,financialinclusion,saving,investment,rural,urban,riskaverse Innovative Solution Towards Sustainable Development: Financial Literacy Should Accompany Inclusion Dr. Anindita Associate professor Jaipuria Institute of Management Studies, Ghaziabad Traditional financial theories have again been questioned during the period of global recession which needs to be incorporated the behavioral finance with the integration of various disciplines. A wide gap has been witnessed between theory and practice. So these traditional finance theories, taught at especially at MBA programme, can not be useful and effective to finance academics. Now question arises what kind of change is required in finance mix/ theory to make it compatible with global economicslowdown.Needtoanswerthisquestioninitiatedtheresearchertomakethestudyonthistopic.Presentstudyaimsat identifying the contradictions found in financial theory during global economic downturn and new concepts emerged as a substitute of traditional financial aspects. Study reveals that various financial models could not predict such down turn and various new financial concepts emerged to replace theses traditional aspects like behavioral finance, multi-factor and agent based modeling and non-trival probability etc. 3P’s of finance mix were also redefined, adapting the recent changes occurred duringglobalfinancialcrisis. Impact of Global Crisis on Finance Theory Ms. Sunil Kumari Assistant Professor, FIMT, Kapashera, New Delhi Today India is transforming from a socialist economy to a consumption led creative economy. The scope and depth of change that is taking place across India defies description. This change provides both a big challenge and a gigantic opportunity for marketers and retailers. India is the fast becoming the retail heaven of the world. Retail in India is accounting for over 10% of G.D.P and 8% of employment. There are over 15 million retail outlets in India and 80% of these are small family businesses. The striking feature of Indian retail is duality – presence of modern and traditional retail. Small traders comprisedof traditional retail have96%shareofretailsectorand4%shareisoccupiedbymodernretail.Corporateretailershoweverhaveplantoaugmentthe share of modern retail from 4% to 15%-20% in next 4 years by investing more than $25 billion .The retail market in India is Impact of Economic Downturn on Indian Retail Industry: Challenges, Opportunities and Outlook Sunita Chaudhary Assistant Professor JIM, Ghaziabad Monica Srivastava Assistant Professor JIM, Ghaziabad
  • 59 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 58 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 JAIPURIA 100 Years of Excellence JAIPURIA 100 Years of Excellence anticipated to grow to 427 billion U.S.D by the year 2010. But due to global recession RETAIL confidence has plunged to a five- year low, in a sign the key sector might slip into a recession. Rising inflation and slower consumer spending, the main engine of economic growth had devoured profit margins and sales were also expected to fall. The retail sector has started tumbling. The manufacturing sector has sustained a severe hit. The tourism sector has been affected, too. Hotels have already reported 20-25 %cancellationfrominternationaltouristswhowerebookedtovisitoverthenextoneyear. The reduced purchasing power of Indian consumers in the current situation has revved up competition among shopping malls. They now have to step up their ad spend along with discounts to lure consumers who have restricted their shopping list to essentials,suchasfoodandotherconsumables.Butrecessionhasbeenarollercoasterride,whichwedon’tknowwhenitallwill end. With each passing day, the ride seems to be getting more complex and clueless. However, the good part is, if there really is any, thatweare not alone in this. The impact has been really hard and most of the industries under the sun are equally impacted byit.Whilewehavereadandheardaboutthevariouschallengesthatarecessionaryeconomypresents,weshouldalsolookinto thevariousopportunitiesthatthisrecessionhaspresentedtous. Keywords:RetailIndustry,Economicslowdown,Recession,Unemployment Organisation Culture is the personification of how the organization organizes itself, its procedures, beliefs and rules that make thecultureofthecompany.Cultureisaverypowerfulforceattheworkplacewhichisconsciouslyanddeliberatelycultivatedand is passed on to the incoming employees. It reflects the true nature and personality of an organization. The culture of an organization grows over time and for an organization to change its culture is result of some major changes in the environment it operates.Thechangebringsaboutamajorimpactonthevariousactivitiesandfunctionsoftheorganizations. In India the Business Schools, the Corporate Sector, Government, Non-Government Organisationsand the Media all have joined handstohighlightthechallengesbeforeusonaccountoftherecentdevelopmentsintheeraofeconomicdownturns.Theissues being debated today consists of the changing relationship between business, society and the Government. It also includes corporate governance, the social and ethical dimensions of management, globalization,stakeholder's debate, shareholders and consumeractivism,changingpoliticalsystems,valuesandthewaysinwhichIndianBusinessCommunitycanrespondtoallthese newissues. This paper attempts to deal with the changes that various organizations have undergone in their work culture as a result of new developments in the modern day business environment. It also highlights the Issues, Challenges and Opportunities available to IndianCorporateSectorinthepresentchangingscenario. Keywords:OrganisationalCulture,Businessenvironment,corporategovernance,valuesandculturalchange. Issues and Challenges of Managing Organisational Cultural Change with the New Business Environment of India Prof. (Dr.) G.S. Popli Director and Professor Delhi School of Professional Studies and Research Rohini, New Delhi Gunjan Nidrajog Final Year student PGDM Delhi School of Professional Studies and Research Rohini, New Delhi Enterprise resource planning software allows businesses to integrate all the company’s departments into one database — creating a single, uniform system that holds all of the organization’s data and information. The goal is to save time and money by allowing for better efficiency. ERP is like the nervous system for a business, the biggest benefit of ERP is the integration and visibility of data it .Mobile enterprise resource planning (MERP) technology is maturing rapidly, and it is making its way into a growing number of enterprises. The technology does exactly what the name implies: It leverages smartphones, mobile broadband and cloud computing to give mobile workers access to key front- and Back Office enterprise applications. This paper focuses on major issues with MERP acceptance like Security, Data Transport. Mobile ERP is a natural fit for the enterprise. The question, of course, is when it will become truly practical for even the most conservative companies. Jumping in today may be tooriskyformanyorganizations,yet,waitingposesitsownsetofrisks. KeyWords:MERP,ERP,DataTransport,Broadband. Mobile Enterprise Resource Planning : Success Or Failure A Research Agenda Rachana Sharma Research Scholar Bhagwant university, Ajmer Mr. Vikas Choudhary HOD (M.Tech) CS Department Bhagwant University, Ajmer Mr. Imran Khan Counsellor (M.Tech) CS Department Bhagwant University, Ajmer Environmental modification is as old as the history of human development. The changes in environment have led to changes in biodiversity. For ages this process has been very slow and gradual. But the last century has seen an unmanageable increase in population, placing tremendous burden on natural resources. The earth itself is worn out due to excessive farming, use of chemicalsandpesticidesandexcessiveuseofgroundwater.Tocombattheseproblems,worldbodiesliketheUnitedNationsand the World Commission on Environment and Development, have been formulating ideas for environmental protection and sustainable development. As both of these are essential simultaneously, this issue needs unique treatment linking various environmental protection strategies with sustainable development. To meet the challenges, organizations are implementing Environmental Management Systems (EMS), a continuous cycle of planning, implementing, reviewing and improving the processes and actions that an organization undertakes to meet its environmental obligations. As India progresses into the 21st century, oil and gas supplies are going to play important roles in the country’s economic development. But looking into the dangers of depletion of environment, pressure is mounting to reduce pollution emerging due to the excessive usage of energy and fuel, and increased awareness is prompting a switch to cleaner fuels such as natural gas or low-sulfur diesel. Liquified Natural gases (LNG), as a category, are emerging as a substitute to traditional fuel, which is comparatively more environment friendlyandbetter.PetronetLNGLtd,oneofthefastestgrowingcompaniesintheIndianenergysector,hassetupthecountry'ss first LNG receiving and regasification terminal at Dahej, Gulf of Khambhat, Bharuch District, in the state of Gujarat on the west coastofIndia..Thevariousimpactsthattheplantlaidwereonphysicalenvironment,biologicalenvironmentandsocioeconomic environment of the area, and the company is committed to take care of all these to the utmost level as they are dealing in the sensitive fuel sector which in any situation is hazardous in case of any lapse. As a policy, PLL has established Health, Safety, Environment & Fire (HSEF) department, dealt by team of competent professionals, to ensure safe and environment friendly practices during construction and operations. The paper studies the various measures taken by the company to anticipate, calculateandminimizetheenvironmentalproblemsarisingfromtheproject,alongwithmaintainingsustainablegrowth. KeyWords:PetronetLNGLtd, traditionalfuel,LiquifiedNaturalgas(LNG), regasification,environmentfriendly. Environmental Protection :The Responsibility Of Growth (A Study Of Environment Safety Policies At Petronet LNG Ltd) Swati Jain Asstistant Professor Jaipuria Group of Management Institutions, Ghaziabad
  • 60 ABSTRACTS National Conference on Challenges of Managing Sustenance and Growth in the Era of Economic Downturns th 20 April 2012 100 years of excellence Jaipuria Group of Management Institutions Vasundhara / Indirapuram, Ghazibad100 Years of Excellence Announces Admission to 2012 • MBA • PGDM • BBA Campus : I Sector-14 C, Vasundhara, Ghaziabad Ph: 0120-4550100, 9958222099 E-mail: directorjim@jaipuria.net Campus : II Shakti Khand-IV, Indirapuram, Ghaziabad Ph: 0120-6582024, 9891788383, E-mail: admissions@jaipuria.net, Telefax: 2882804 For further details visit: www.jaipuria.net JAIPURIA GROUP • Approved by AICTE, Ministry of HRD, Govt. of India • Specializations offered in Finance, Marketing, IB, HR and IT • Sectoral specialization in Retail Services, Travel & Tourism, Hospitality & Energy Management (Oil, Gas & Power) depending upon the mapping of student's interest. • Career focused and service specific LIVE projects (individual and Group) • Regular guest lectures by eminent speakers from industry & academia PGDM MBA BBA• Affiliated to CCS University, Meerut • Approved by AICTE, affiliated to Mahamaya Technical University, Noida • Ranked amongst Top 10 B-Schools of UPTECH University, Lucknow • Declared as Best Management College in Ghaziabad by Times Research 2010 • Offering dual specialization in Finance, HR, Marketing, IB, IT & Operations Management. JAIPURIA 100 Years of Excellence Supplychainmanagementhasbecomeanewmodelofenterprisemanagementinthe21stcentury.Itminimizesinternalfriction of the supply chain system, improves the system’s overall competitiveness and promotes each member’s competitive power in the system. As a regional economy phenomenon, industrial clusters receive more and more people to pay attention because of its unusual regional economy competitiveness. As a new management pattern, `cluster supply chain' (CSC) can help Small and Medium Enterprises (SMEs) to face the global challenges through all kinds of collaboration. However, a major challenge in implementing CSC is the gap between the related theories and practices in the field. The recent rapid commercialization and adoption of `service' technologies have driven a process of transforming theories into practices. In an effort to provide a better understanding of this emerging phenomenon. The implementation process of CSC in the context of MESCO as a case study suggests that the key problems in the practice of cluster supply chain: When do small firms use cluster supply chain to do business? How do small firms use cluster supply chain? Only after clarifying those problems, the actual construction and operationofclustersupplychaindoesshowsuccessfulresultsasitshouldbe. Keywords:supplychain;clustersupplychain;servicesystem,casestudy Cluster Supply Chain- Case Study Mr. Arijit Bhattacharya MBA IISWBM Yatish B Ganganwar BE (Mech) MIE, PGDMM, GDMM IISWBM