Book Title : Global Management Research and Education : Challenges & Opportunities

Copy Right : © Global Outreach Research & Education Association

Editors : Dr. Julee Banerji, Mr. Rakesh Kumar

First Edition : November 2019

Book Size : B5 Size

ISBN : 978-93-87756-64-9

Copy right

All rights reserved. No Part of this book may be reproduced, stored in a retrieval system or transmitted, in any form or any mean, mechanical, photocopying, recording or otherwise, without prior written permission of the author

CONTENTS

S.NO. TITLE PAGE NO

1. Artificial Intelligence for Human BettermentJaya Kumari

1-2

2. A Study on Derivative Option Strategies for Risk Management at Tidi Business Solutions Private LimitedLalitha Devi

3-6

3. Agriculture Performance in India and the need for AutomationMadhu Kumari Sinha

7-9

4. Ambient Intelligence for Human WellnessKanahaiya Lal Ambashtha

10-14

5. Empirical Approximations in Work - Life BalanceChhaya Wadhwa, Jyoti Satpathy, Julee Banerji

15-23

6. An Empirical Analysis of Visual Merchandising in Dynamics of Consumer BehaviourJames Hussain

24-29

7. Adopting Flexible Work Timing in the Organization for the Optimum Utilization of Resources in the 21st CenturyFaryas Kausar Ansari

30-42

8. An Empirical Study of the Importance of Prior Knowledge of Health Care Insurance for Selection of Mediclaim InsurancePratik Biswas, Mridanish Jha

43-48

9. Artificial Intelligence Based Techniques for Crop ManagementSwadha Kumari, Jyoti

49-55

10. Parametric Complexity: A New Aspect of Viewing Sorting AlgorithmsPriyadarshini

56-60

11. Artificial Intelligence for Human FaceRajeshwar Dayal

61-69

12. A Conceptual Understanding of Brand Equity Attributes in the context of Management InstituteRajiv Ranjan

70-74

13. Higher Education in IndiaShakil Ahmad

75-80

14. वैश्विक श्वक परिरिप्रेक्ष्य मे भारित मे प्लािक स्टिक मुद्रा की चुनौतितयां एवं अवसरिSanjeev Kumar Prabhakar

81-85

15. Management of Demand & Supply Related Issues and Price Volatility of Onion In BiharPriyatam Kumar, Rajiv Kumar Sinha

86-97

16. An Analytical Study Of The Working Of Poverty Eradication Schemes With Special Reference To Mahatma Gandhi National Rural Employment Guarantee Scheme In Buxar District Om Prakash Agrawal, Kumar Subhash

98-107

17. Analysis Of Recovery Mechanisms Of Non-Performing Asset In Indian Banking Sector Nityanand Deva , Shilpi Kavita

108-116

18. Influence of Branding And Advertising on Customers in 21st CenturySeema Pundir, Shruti Srivastava

117-121

19. Oculo - Tactical Monikers in Managerial DecisionJyoti Satpathy, Julee Banerji

122-135

20. Investment & Growth : Pharmaceutical Companies in IndiaShazia Shaheen

136-145

21. Challenges For Indian Financial SectorShashank Saurav

146-148

22. Cutoff Point of the use of Technology in ClassroomsRuchi Shukla, Varda Munka

149

23. Financial Inclusion and Rural DevelopementAjay Kumar

150-154

24. Foreign Direct Investment (FDI)Jitendra Kumar

155-162

25. Indian Corporate Social Responsibility in 21st Century : Issues and ChallengesSumit Prasad

163-170

26. Technology Social VentureRashmi Shekhar, Vineeta Verma

171-173

27. Sustainable Rural Development with Rural Marketing in IndiaSmrity Suman

174-178

28. The role of HRM in Organizational growth and InnovationShashi Kumari

179-184

29. Role Of Employee Performance Appraisal In Development Of An OrganizationMayurakshi Singh

185-189

30. Role Potential and Contribution of Information and Communication Technology (ICT) in Production and Marketing of Agricultural ProductsVikash Kumar Singh

190-193

31. Green Politics- Based Cause Related Marketing- A Study of Some Indian CompaniesSunil S Dhanawade , Sham V. Bachhav

194-200

32. HR Vision for 21st century on Employee TurnoverPrerna Bhagalpurkar

201-208

33. Network Intrusion Detection System: Anomaly Detection Vandana Verma

209-211

34. Analysis of Factors Contributing Growth of Micro Small and Medium Enterprises- With Reference to BiharRajeev Ranjan, Sonali Shukla

212-217

35. Need Of Global Mindset In Organizational Expansion Neeru Kumari

218-224

36. An Empirical Study on Buying Behaviour of FMCG product in Rural AreaMadhulika Gupta, Shan V. Bachhav

225-231

37. A Study on the Human Values, Ethics And Corporate Social Responsibility in Insurance Companies with Special Reference to LICKumud

232-241

38. Analysis of Marketing Strategies Used by NGOs of Jharkhand With Special Emphasis on Social Marketing - A Literature ReviewSamriddhi Singh , Sudipta Majumdar

242-253

39 Innovation & Creativity In Marketing Page Cage Marketing On Facebook ‘Boost Post’ – Organic & Inorganic Crowd Pulling

254-259

Mohit Shaw

40. Innovations in banking activities and their impact on rural development: a study with special reference to bank of barodaOm Prakash Agrawal, Kumar Vikas

260-266

41. Artificial Intelligence for Human MankindRicha Verma

267-271

ARTIFICIAL INTELLIGENCE FOR HUMAN BETTERMENT

Jaya Kumari(Asst. Prof. International School of Management, Patna)

Abstract : We are privileged generation to live in the era full of technological enhancement. The day passes where each and every tasks were done by human, now a days most of the tasks are performed by the machines, software and various technical devices. These can be done by the introduction of Artificial Intelligence. The term Artificial Intelligence (AI) is increasingly automating work tasks. In banking, Companies such as MasterCard and RBS WorldPay have relied on AI and Deep Learning to detect fraudulent transaction patterns and prevent card fraud for years now, Google maps and other ride sharing apps uses AI for route mapping, Online retailers uses AI for understanding our preferences, Healthcare sector has been amongst the top adopters of AI technology. The agriculture industry has been using automation and robotics to help farmers find more efficient ways to protect their crops from weeds. AI is exceptionally good with estimation and prediction mainly because it can memorize large data entries without any mistake and make its own decisions based on the past patterns that it has recorded.

Keywords: Technological advancements, automation, estimation and prediction, error- deduction

Introduction

Artificial Intelligence is nothing but a robotic machine that has the ability to think intelligently and creatively as well as translate these thoughts autonomously in varied human applications. This fundamental basis of Artificial Intelligence is what has and can revolutionize the face of mankind. AI is not merely a uni-dimensional technology. Artificial Intelligence is the branch of Computer Science which introduces the machine that have the ability to think. It helps human to copy their brain, behaviours personality into the machine so that machine can play the role of human when they’re not present in place of problems and opportunities. AI can be named as technical philosophy or imagination or future as it is the group of programs and functions that run automatically by using different technical devices.

AI is the theory and development of computer systems which facilitate to perform tasks normally requiring human intelligence, including visual perception, speech recognition, decision-making, language translations, etc. AI is nothing but a medium that would take humanity to the next level of progress and innovation. In this article, I, just want to share with how artificial intelligence can benefit humans in day to day lives. It’s leading the way to change lifestyle of human on Earth for their betterment.

2018: A Landmark Year for Artificial Intelligence

In 2018, countless publications characterized the global, government-led competition for artificial intelligence leadership as an arms race. The ongoing battle between China and the United States for global leadership has been likened to the Cold War, with some accounts indicating China is ending the year ahead. Although the implications of incorporating AI into our lives might sound daunting enough to eliminate its applications altogether, here is why AI is a boon to humanity and not a curse that might harm it in the future!

1. Automation of tasks

Today, AI can perform intensive human labor and backbreaking tasks easily without the need for human intervention. This has immensely automated several applications and tasks in industries as well as in different sectors. Machine learning, deep learning as well as other AI technologies are being increasingly adopted and incorporated in industries and organizations to reduce the workload of humans which has also reduced operational costs and the cost of manpower substantially.

2. The Perfect Marriage of Creativity and Technology

AI is not merely a unidimensional technology. Its benefits and applications are far more important and noteworthy than its apprehensions, and this is precisely what will help humans in the future as well. The Generation Z engagement strategies show just how AI marries creativity and technology to create the perfect results. Using the powerful tool of Artificial Intelligence, brands can apply the correct technology to align with the needs and wishes of Gen Z.

3. Smart Weather Forecasting

There are countless applications of AI aimed for accurate weather forecasting. Humans now have an increased understanding of the effects and reasons for climate change.The field of weather forecasting is super demanding and calls for intensive computing and deep-learning networks that can empower computers to dish out complex calculations. IBM, for instance, used its computers to improve their forecasts back in 1996. This American multinational has ever since been refining and enhancing its forecasting methods with the incorporation of AI.

4. Next Generation Disaster Response

Due to the threats of climate change, more and more companies are now embracing AI to fight disasters with different algorithms. Hence, AI has aptly demonstrated its indispensability in analyzing smart disaster responses and providing real-time data of disasters and weather events.

5. Error Reduction

The advantage of using Artificial Intelligence is, it helps us for error reduction and increasing the chance of reaching higher accuracy with a greater degree of precision

6. Medical Applications

AI tools are helping designers improve computational sophistication in health care. For example, Merantix is a German company that applies deep learning to medical issues. It has an application in medical imaging that “detects lymph nodes in the human body in Computer Tomography (CT) images.”

7. Wildlife conservation

It involves counting animals, which is a difficult task. Motion-sensitive cameras can automatically photograph wild animals, providing massive amounts of data. In the Snapshot, Serengeti project scientists used deep learning to analyze these images. The system can save 99.3% of the manual labor (17,000 hours) while performing at the same 96.6% accuracy level of human volunteers.

Conclusion:

Artificial Intelligence will help humanity and not harm it in the long run. We already see the benefits of AI in our lives in leaps and bounds, and these advantages are only likely to see fruition in the future too.

A STUDY ON DERIVATIVE OPTION STRATEGIES FOR RISK MANAGEMENT AT TIDI

BUSINESS SOLUTIONS PRIVATE LIMITED

Lalitha Devi

(Student pursuing MBA, Jain University (CMS Business School))

Abstract: One of the most important and significant events in the securities markets has been the

introduction, development and expansion of the financial derivatives. Originally it was used by

Europeans long long ago. It was introduced in the year 2000(June). Derivatives are most relevant

to the commodity segment. When it was introduced it was known as forwards (because there was

no proper communication, No agreement, No middlemen, No legal documentation) Forwards were

renamed as futures. A derivative is the value of an underlying asset. It derives its name from the

respective underlying asset. Thus if derivatives underlying asset is equity, it is called as equity

derivative. Derivatives can be traded on the stock exchanges National stock exchange and

Bombay stock exchange and it can also be traded off the exchanges that are directly between the

different parties which is called “Over the Counter Trading”. The main purpose of the derivatives is

hedging the risk that is( mitigating the risk )for the investors investing in the stock market. The

largest stock exchange in India trading in derivatives is the National stock exchange.

Importance of the study

To understand the investor perception towards the derivative markets. It is one of the most

important contracts as it helps the investors in hedging their risks, diversifying their portfolio and it

also helps in the global diversification and hedging against the inflation and deflation of stocks. It

has a very huge impact on the country’s economy. The world market for derivatives has been

growing extensively in the last couple of decades both advanced economies and emerging

markets. This needs to have the proper perception towards the volume of the study.

Need for the study

In the fast growing and the emerging economy the Derivatives market in the recent times have

gained importance in terms of their vital role in the economy. It will increase the investment in this

segment and is attracting investors and my interest in this area. Through the use of derivatives; it is

possible to partially or fully transfer the price risks by locking in asset prices. The volume of trading

is tremendously increasing or decreasing in terms of the prices of derivatives markets, this analysis

will be of enormous help to the investors investing in the derivatives. Derivatives act as a risk

hedging tool for the investors. The key objective is to help the investors in selecting the suitable

derivative instruments to get the maximum benefit with the minimum risk and also to help the

investors to decide and invest in the best securities which are available.

Scope of the Study

The study is limited to derivatives with special reference to options in the Indian context and about

the investor’s perception towards the derivative market in India. The study is not based on the

international perspective of derivative markets. The study is limited to selected option strategies

only.

Statement of the Problem

It is gaining importance due to increased volatility in capital and foreign markets. RBI finds ways for

healthy development of market and takes steps to promote the uses of derivatives instruments, but

still investors investing in derivative is moderately low. Hence it is necessary to know the investor

awareness, the level of investing, how to create the adequate awareness to encourage the use of

derivative products as a hedge tools. Financial derivatives when it was introduced in the market it

was introduced as a risk management tool but today it has become the most risky instruments in

the markets. Though it is widely known as that derivatives can be used for hedge, but the extent of

effectiveness has not been systematically and scientifically not proved.

The study analysis of selected option strategies for hedging the risk markets and the investor’s

attitude towards derivative markets, problems faced by the investors and option strategies for

promoting hedge.

Objectives of the study

1. To understand the derivative markets in India.

2. To develop option strategies for the selected securities.

3. To analyse the performance of option strategies.

4. To understand the investors perception towards derivative option.

5. To understand the derivative as a hedging.

Research Methodology

Research methodology is used in descriptive analysis, it is the process of collecting and analysing

marketing information and ultimately arriving at certain conclusion.

Sampling type:

Convenience sampling:

It is a type of non-probability sampling method where the sample will be taken from the group of

people easy to contact or reach.

Sampling size:

The sampling size is 100 respondents.

Sources of data:

Primary data

a. The primary data was collected from the selected investors on derivatives and

personal interaction with the respondents through the questionnaires.

b. Discussing with the managers and the insights gained at the company.

Secondary data

Information collected through

1. Websites

2. Magazines

3. Journals

4. Research papers

Tools for data collection:

The data will be collected from the investors before their investment; the data will be collected

through the questionnaires and survey.

• Structured questionnaire

Plan of analysis

The plan of analysis will be interacting personally with the investors and collecting the data through

the questionnaire, the data analysis will be made by way of graphs, charts and tables.

Limitations of the study

• Time constraint:

The duration of the study was 2 months which is limited whereas the topic is very broad

and wide.

• Limited resources:

To collect the data limited resources were available.

• Lack of data availability:

The data is not readily available; the options data is collected in the month of june 2019 on

a daily basis at the end of the trading session of the day.

Findings and Discussions

• Before the introduction of New Economic Policy of 1991 the markets were not as volatile as

they are today, after the introduction of Liberalisation, Privatisation and Globalization (LPG)

the markets are highly volatile as prices of most commodities are decontrolled. Hence

derivatives become an important instrument for hedging the risk.

• It is found that the risk in trading derivative contract is limited whereas the profit is unlimited.

As the maximum risk is only the premium amount.

• Further considering the growth of Indian economy in service sector is remarkable. India has

all the infrastructure facilities and the potential exists for the whole spectrum of financial

futures trading in like stock market indices, treasury bills, gilt edged securities. For all these

reasons, there is a major potential for the growth of financial derivatives.

• The investors are not aware about the derivative segment and it is necessary to create the

awareness among the investors. This awareness can be created through the brokers and

sub brokers when the investors want to trade in the stock exchanges. One such initiative is

taken by TIDI Business Solutions Private Limited where the investors are trained first and

then they invest and trade in stock exchanges.

• The awareness level of the investors was high regarding the derivatives market and how it

helps as a hedging tool for the investors. 74% of the respondents invest in derivatives and

26% does not invest in derivative markets. But majority of them had the partial knowledge

and the respondents having full knowledge about the derivatives were minimal.

• The two types of options that is the call option and put option they are chosen based on the

performance of the market. Suppose if the market goes up then the investor should buy first

and sell next (BFSN) and the investor should buy a call option, when the market falls down

then the investor should buy a put option. The premium in the market is decided based on

the demand and supply.

• The risk of trading in derivative instrument is limited as the risk is just the premium and the

profit is unlimited that is the advantage of trading in derivative contract. This can be

understood based on the following examples:

• The spot price of the Infosys was Rs.800, the investor bought at Rs. 820 CE (Call Expiry),

on July 25TH at Rs.40 as premium and on July 25th the Infosys price closed at Rs. 860(The

lot size is 1200). In this case there is no profit and no loss.

• The spot price of the TCS is Rs.2500; the investor bought at Rs. 2520 PE (Put Expiry) at a

premium of Rs. 20. On 25th July TCS share price is Rs.2548. The loss in this case is only

Rs. 48 therefor it is said that the risk is limited in derivative options.

• It was found that Arbitrage is not present in our country. The prices of the stock differ from

one exchange to the other exchange. Previously there were 21 stock exchanges in our

country and the investors could easily buy from one exchange and sell in other. But this

facility is not available in our country. Presently there are two exchanges that is NSE and

BSE and buying from one exchange and selling in other exchange is not there in our

country.

• When there is depression in the economy it is always better for the investor to not enter the

options, as the predictability of the prices in the market becomes very tough.

• The breakeven point or the cut-off point is the most important term to trade in derivatives.

This helps the investor to determine the profit or loss. For example: If the investor buys the

stock of Reliance at Rs. 1300 and the premium is at Rs. 25 so the investor can analyse that

if the stock price goes above the break-even point that is Rs. 1325 than the investor is at

profit.

CONCLUSION: Risk management is one of the most important purpose of the derivatives. It helps

the investor in hedging the risk. Because of the high volatility in the market the prices fluctuates

and this instrument helps the investor minimise the risk. It also helps the investor to discover the

prices. The derivatives are the short term instruments as the maximum period is just 3 months and

the expiry is on the last Thursday of the month. It is a quick way to earn money in a shorter period

of time but at the same time the investor can lose the same portion of money in the same period.

Derivatives are risk management tool that have redefined and revolutionised the landscape of the

financial industry. It has seen a very encouraging and the growth of it in India is increasing

gradually because of the high volatility in the stock market. The investor should have prior

knowledge before investing in the market.

AGRICULTURE PERFORMANCE IN INDIA AND THE NEED FOR AUTOMATION

Madhu Kumari Sinha(IT department, ISM,Patna)

ABSTRACT: Automation is one of the most powerful trends of 21st century which are controlling almost all the sector whether it is agriculture, business or consumerism etc. India which is a country of 125 million people, which is growing day by day, it is utmost requirement to make our country self-sufficiency in food grain production on sustainable basis. This can only be achieved by automation of agriculture to a larger extent. As we know the large size of population’s main occupation is agriculture. So there is a pertinent question to discuss that whether the technology will propel the society towards a workless human force. There is a need to take care, that deployment of automation technology should not create a workless future. In this paper the emphasis is on the automation of agriculture without generating a workless human force.

Automation technology can be used to modernize farm irrigation system. Farmers can be enabled with the wide range of techniques like sustainable agriculture to face challenges in the field. By use of IOT (Internet of Things) ,the farmers can be enabled with the wide range of techniques. This technology helps in collecting information about weather Conditions, soil fertility, Crop on line monitoring, level of water, crop growth etc. with the help of IOT, by using wireless sensor networks and microcontrollers ,the farmers can monitor the farm conditions and can control and automate the farming process respectively. Using IOT, with the help of Smart phones farmers can be kept updated with the conditions of their agricultural land at any time and in any part of the country. IOT technology can reduce the cost and enhance the production of the conventional farming.

Keywords : Automation, agriculture, IoT, technology

INTRODUCTION :

1.The population of India will reach about 1.48 billion by 2027 as projected. To keep pace food production must increase by 4.2 % per year from the present 2.2% per year. As we know India is basically an agricultural country and agricultural production has an important impact on national food security as well as generating employment. But in India the area of farm land per capita is much lower than many other countries of the world. Consequently land yield or the production value per capita is also very low. In the face of growing population food prices are bound to soar resulting into hunger and starvation of the populace below poverty line.2.To face these challenges, the need of the hour is to devlope methods to produce more outputs inspite of the limited natural resources available. Our country needs to use the latest automation technology in agriculture to increase production yield , without generating workless human force at the same time. As a matter of fact Indian farmers have already started using mechanized tools and implements but the need of the hour is to use advanced technologies for the optimization of agro-industries production and fighting hunger-pangs.3. To meet the needs of growing population in crop production in India , IOT and cloud computing can be effectively used[8][14][20]. IOT and cloud computing is technology which connects various objects through the world to the Internet [7][2].With the use of wireless and other sensors with Internet which are inbuilt into the device, applications based on IOT enabled devices are devloped to monitor and control various farming domains based on applications[10].In this regard M2M(Machine to machine) as an integral part of IOT, is helpful to sense the geographical requirements of the land where we want to implement IOT[6 ][4] 4. Along with IOT cloud computing can be used to encourage sharing of limited resources thus reducing the overall cost in agriculture [7][2][17]. New and innovative IOT applications can be devloped to increase quality, quantity, sustainability and low cost agricultural production[4]. 5. Effective use of IOT shall bring revolutionary change in Indian agricultural production as it connects objects world wide in intelligent and sensory manner. By this we mean connecting-technological devlopment through item identification “tagging things”, “feeling things” through wireless sensory networking, “thinking things”through embedded & in-built systems and finally

“shrinking things”through nano technology.[9] As we all know ‘nano technology’ is used widely in many other fields like medical science also. 6. Likewise,cloud computing is also proving to be a path –breaking technological application in the field of agriculture. As we all know farmers require a large no. of data and services such as prior knowledge of climate condition, irrigation facilities, availability of finances in order to improve crop production.7. Here cloud computing can provide data as a services(DaaS) at low cost as compared to the professional service providers who are charging fixed amount irrespective of using or not using service. On the other hand cloud computing provides services at comparatively cheap prices hence both Govt. and private agencies are using it to store agricultural data. 8. In Asia, countries like China & Japan are extensively using IOT and cloud computing for agriculture.To use IOT in agricultural sector in India,we require :a. Internet availability & connectivity[10]b. Awareness programme among the farmers because global vendors of IOT assumes that Indian consumers are not ready for advanced products.[9][5]c. Availability of supporting infrastructure like smart grids, traffic systems etc, apart from Internet.9. India can bring dynamic changes in agricultural field by using IOT. There is high potential to innovate in it. By right and timely application of this technology agricultural productions can be increased greatly to meet the demands of growing populace. Government is also supporting & giving incentives to entrepreneurs to go ahead and realize the dream of “Make in India”.

10. MODEL TO BE USED

The given fig. shows a model where IOT with network of sensors can be used. Cloud computing storage server is used to reduce the cost of data service. As shown in the fig. the data are collected into the server by different Gateways. The data at Gateways are collected from different sensors which are being embedded at different locations of agricultural fields, [3] With the help of wireless sensor network(WSN) systems, which are being used for gathering the data of geographical locations by tracking the fields with radio frequency identification(RFID)and other sensing devices[10].

Fig 1 Cloud computing and IOT based agricultural support Model [10] For example soil sensors are used to collect data like low water flow through the land and this data can be used as an information to record changes in soil moisture, temperature and levels of carbon

& nitrogen. By using these sensors with irrigation and fertilization, farmers can control the unnecessary wastage of water and fertilizer.11.To transfer data, RFID is used. RFID is wireless use of electromagnetic fields. The server function as perception layer which senses and provides location information. From the perception layer data passes to the second layer where it uses technologies like Wi- Fi, CDMA, 2G, 3G, 4G etc for the transportation purposes. 12. Finally the cloud computing is used for virtual storage of data. With the use of cloud computing storage server, the cost of data as service is reduced, and the user have facility to request the required service for required time at low cost from the server. Farmers can use information at appropriate time. Information like light, humidity and temperature levels of soil /land can help farmers to change the time of irrigation as per the crop requirements as a result damage of crops can be minimized. The farmers can get information and can take decisions that which crops can be planted where and what to plough and irrigate etc with the help of real time data of weather predictions. Thus they can have control over the crop like, wheat, corn, rice etc. and can monitor and optimize their crop production ability.13. BEN EFITS OF IOT & CLOUD COMPUTING IN AGRICULTURE IN INDIA ARE:

a. Reduced costb. Improvement in the usage of soil, water, fertilizer , pesticides etc.c. Improvement of Indoor farming d. Forestrye. Increase in Fish farming

14. CONCLUSIONSIOT can enable a single farmer to deliver the crops directly to the consumer anywhere thus changing the whole supply chain scenario consequently the lecherous ‘middlemen’ will tak e a backstage. Producers and consumers can be directly connected and it will pay more to the farmers In India, IOTs technologies have potential to change the rural socio-economic condition because it is an unexplored area for innovation. India is a culturally and religiously diversified nation so IOT gives no. of challenges as well as opportunities to go over applications and services from millions to billions and trillions of connected devices, and from Giga to tera andZeta bytes of data.15. To round it all it can be simply put that application of IOT and cloud computing will improve crop yields, improve quality and reduce costs in Indian agricultural field.REFRENCES :[1] Rupanagudi, S.R, Ranjani, B.S, Nagaraj, P, Bhat, V.G. “ A novel cloud computing based smart farming

system for early detection of borer insects in tomatoes ” Communication, Information & Computing

Technology (ICCICT), 2015 International Conference on 15-17 Jan. 2015 Page(s): 1-6

[2] Hemlata Channe, Sukhesh Kothari , Dipali Kadam,Assistant Professors, Department of CE, PICT, Pune,

India.”Multidisciplinary Model for Smart Agriculture using Internet-of-Things (IOT), Sensors, Cloud-

Computing, Mobile-Computing & Big-Data Analysis ”IJCTA | May-June 2015

[3] Mitsuyoshi Hori, Eiji Kawashima , Tomihiro Yamazaki “Application of Cloud Computing to Agriculture and

Prospects in Other Fields”FUJITSU Sci. Tech. J., Vol. 46, No. 4 (October 2010)

[4] Sivabalan, M. A. Rajan and P. Balamuralidhar,”Towards a Light Weight Internet of Things Platform

Architecture”,july 2013; Accepted August 2013,Journal of ICT Standardization, Vol. 1, 241–252.

[5] Meonghun Lee ; Dept. of Inf. & Commun. Eng., Sunchon Nat. Univ., Sunchon, South Korea ; Jeonghwan

Hwang ; Hyun Yoe “Agricultural Production System Based on IOT” Computational Science and Engineering

(CSE), 2013 IEEE 16th International Conference on 3-5 Dec. 2013 Page(s): 833 – 837

[6] Charith Perera, Arkady Zaslavsky, Peter Christen and Dimitrios Georgakopoulos, “Sensing as a Service

Model for Smart Cities Supported by Internet of Things,” TRANSACTIONS ON EMERGING

TELECOMMUNICATIONS TECHNOLOGIES, Australia,2014. [

[7] Fan TongKe,”Smart Agriculture Based on Cloud Computing and IOT”,Journal of Convergence Information

Technology(JCIT) Volume 8, Number 2, Jan 2013

AMBIENT INTELLIGENCE FOR HUMAN WELLNESS

Kanahaiya Lal Ambashtha

International School of Management, patna

1.Introduction : Mark weiser in 1991 study the relation between users and the technology

and termed as Ubiquitous the paradigm where the technology is commonly used by user

frequently ,the significance of this concept was developed under the umbrella of Ambient

Intelligence(AmI). Ami is the buzzword of recent paradigm which has similarities but now not

equal to elegant environment & inescapable computing. the system is developed or design in

view of human centric for that reason it gives greater significance to the person. The

intelligence had to the device to expect the necessity of the person. as a result the virtual

environment that take-care however sensibly supports people in their day today lives is called

AmI. The AmI system is ready with all sorts of objects that is capable of apprehend and

responding the presence of all people in a personal or hidden way In an AmI ambiance the

overall performance of Ami system is primarily based on the “Imperfaction” and “Uncertainty”

traits of statistics obtained from the exceptional individuals existing in an environment the

Imperfaction of the records are because of sensor or connectivity screw ups because of which

the context facts are not regularly available. while the equal information comes from distinct

item it create ambiguity. for the reason that statistics is sensor pushed and due to fluctuation

inside the electricity of the alerts the obtained statistics is noisy .and due to human or hardware

mistakes the context will become blunders full .the Intelligence of the device is needed to

detect the mistake, to discover the gap among the actual information and acquired statistics

and determine the correctness and validity of the sensed statistics.

In an AmI paradigm the encircling objects are embedded with intelligent sensor and parallel

processors to aid the occupant each the item and the sensor running together in an cordially

way. The AmI system have the following characteristics

Context aware: It derived the contextual and occasions facts

customised: it's miles customised and advanced to the necessities of every person

Anticipatory: it could predict the desires of person without understanding the mediation of the

individual

Adative: it acquainted the variation of person styles

Ubiquity: it's miles embedded into the everyday objects

Transparency: it recedes into the historical past of our daily existence.

Ubiquitous is used in :

• Sensor Networking: To accumulate the data from the surroundings.

• Robot System : To increase the assistive robotic

• Human machine interplay: To expand extra pleasant interface.

Fig. 1. Interconnected universe of Ubiquitous health services

Supporting infrastructure and technology

In this section the researchers explain the infrastructure and technology used in Ubiquitous

systems which are used in healthcare domain. Like the body area networks (BAN) and

dense/mesh sensor, A fancy way of wearing electronic gadgets as a second skin and micro-

electro mechanical systems (MEMS) sensors.

Bod Area Network(BANs):-

The fitness capabilities like body temperature, blood strain ,ECG and so on may be

effortlessly display by using implanting the tiny digital sensor into the body of human, or

embedding on attires that is best feasible due to drastic trade of era in datagram Network

and the reduction of digital devices in length. That may be operated at a completely low volt

due to communique performance and value effectiveness in their work it's far widely used in

fitness care services. due to tiny in length it is able to be effortlessly integrated with other

community infrastructure like Bluetooth, video surveillance device, wireless private area6

Fig. 2. A Bod area network communication architecture is shown above.

Communication architecture of BAN is divided into three tiers:.

Tier-1 Intra-BAN : The radio communication about 2 m around the body is called Intra-BAN

communication. on this tier there is a communique between body , sensor and among body

sensor and transportable tool appliance (PDA).

the primary problem for developing this residue is the deliver of low bit rate sensor that carry

out with interracial strength and the high-quality of services. The fundamental difficulty for

developing this layer is the supply of low bit rate sensor that perform with interracial power

and the quality of services.

Tire-2Inter-BAN : The second tier of BAN is called Inter Bod place network that enables

body sensor to talk with one or more get entry to point(AP) that's both infrastructure-based

structure which require big bandwidth and is centrally managed or ad hoc-based structure

which can be festally install in a dynamic surroundings strategically to Handel clinical

emergency care reaction or disaster site

Tire-3 :

The third tier of BAN is connected with Inter BAN tier thru PDA(portable access point). It

establish a reference to wi-fi or wired network through which the seneor feel records may be

trensfered to a remotely storage database . in which the sensible healthcare utility manner

over them and right away provide the information to the family of the patient for their

betterment. Or the professional physician choose the information of the patient on their

priority and offer them offerings.

2. Enabling Technologies|

To make the AmI ambiance greater actual, the IST advisory group provide a list of

technology that is wise and works automatically on the idea of healthcare intelligence

application.

2.1 Sensing Technology|

The motive of the use of sensing technology counseled via the IST advisory group is to

reveal the sufferer and his/her hobby and display the surroundings in which the victim

resides.

Behaviour monitoring of the victim is an critical troubles of AmI device. The motion sensor is

used to display the motion of the sufferer. A sensor can communicate with some other

sensor with both with radiofrequency communique protocol like Bluetooth protocol that is

used to communicate in a short distance.

monitoring the environment is performed through the transduces to reveal the temperature,

humidity, oxygen stage, air strain within the room wherein the sufferer resides.

those all sorts of task can be achieved thru the sensor whose perform at a very low volt and

length is reduce because of the usage of MEMS technology(miniature mechanical and

electromechanical elements)

The cause to reveal the victims is to acquire the records of the victims approximately their

behaviour and keep into the database so that the right choice can be taken via the health

service carriers or the intelligent fitness software for his or her well-being. information are

also gathered for the sufferer surroundings in order that the proper selection can be taken at

a right time for the development of the health of the victims

The AmI system use following body sensors for human wellness

Gyroscope /Accelerometer: it is use to sense the postures of the human body like sitting,

standing, running, kneeling etc. the physical movement of the human body can be monitor

through the Gyroscope

3 . A L GO R I T H M S A N D M E T H OD S

The following algorithms and methods are used to develop and design the AmI healthcare

system more user friendly

Activity Recognition

The AmI system is used to provide the health service to the human, and for doing this it

collect the behavioural activity of the human and the ambience of their surroundings.

Table 3 Ambient Health Algorithms and Methods

Segment Example methods or

technique

Example Applications

Sensor based human Activity

Recognition

Vision Based sensing Automation

Behaviour Discovery Sequence mining Behaviour monitoring

Anomaly Detection Statistical methods Emergency detection

Planning D-HTN Prompting

Decision Support Knowledge based Enhancing communication

among health care personnel

The core object of this technology is human, whose behavioural and moving activity is recognised

by the system through the sensor embed into the body or the attire of the human. There is a

number of ways for activity recognition [7], [8] that vary depending on

Human activity can be monitor through the sensor Technology.

The machine learning algorithms are used to model the human activities, and

The complexity of the activities that are being modelled.

• Sensor Modalities: A number of sensor modalities are developed due to the enhancement in

pervasive computing and sensor wireless networks which are used to collect the useful

information of the human activity. In the case of wearable sensors, sensors are attached to the

body [9] or woven into garments [10], [11]. When three-axis accelerometers are distributed

over an individual’s body, then each sensor can provide information about the orientation.

• Activity Models: The models of the sensor are developed according to the technology used in

sensor different models are used to recognized the different activity of the human. The

methods used to develop the models are categorized into

• Template matching/trans-ductive techniques: This uses the nearest neighbour

method based on Euclidean distance or dynamic time warping [12], [13].

• Generative approaches: Such as naive Bayes classifiers where activity samples

are modelled using Gaussian mixtures have yielded promising results for batch

learning [14], [15], [16]. Generative probabilistic graphical models such as hidden

Markov models [15], [17]–[19] and dynamic Bayesian networks [20], [24] have been

used to model activity sequences and to smooth recognition results of an ensemble

classifier. Decision trees as well as bagging and boosting methods have been

tested [21].

• Discriminative approaches: including support vector machines [25] and

conditional random fields [22], [23] which attempt to maximally separate activity

clusters, have also been effective.

R E F E R E N C E S

[1] Seaborne, A.: RDQL - A Query Language for RDF. W3C member submission, Hewlett

Packard (2004)

[2] Karvounarakis, G., Alexaki, S., Christophides, V., Plexousakis, D., Scholl, M.: RQL: a

declarative query language for RDF. In: Proceedings of the 11th International World Wide Web

Conference (WWW), pp. 592–603 (2002)

[3]Sintek, M., Decker, S.: TRIPLE - A Query, Inference, and Transformation Language for

the Semantic Web. In: Proceedings of the First International Semantic Web Conference,

pp.364–378. Springer, Heidelberg (2002)

[4] FaCT: FaCT systemwebsite (2003), http://www.cs.man.ac.uk/∼horrocks/FaCT/

[5] Haarslev, V., M¨oller, R.: RACER System Description. In: IJCAR, pp. 701–706 (2001)

[6]G. Singla, D. Cook, andM. Schmitter-Edgecombe, ‘‘Recognizing independent and joint activities

among multiple residents in smart environments,’’ J. Ambient Intell. Humanized Comput., vol. 1, no.

1, pp. 57–63, 2010.

EMPIRICAL APPROXIMATIONS IN WORK - LIFE BALANCE

Chhaya Wadhwa(Apeejay School of Management, New Delhi, India)

Jyotirmaya Satpathy(Faculty, National Defence Academy, Pune, India)

Julee S. Banerji(International School of Management, Patna, India)

Abstract

Work and balance of role effectively in ‘work’ and ‘non work’ domain. (‘Neuro - Cognitive abilities, reserved for humans, are being carried out on an increasing rate. Work life balance is the order of 21st

Century. Work - life balance is the magnitude to which an employee is able to cope to his satisfaction oriented’) work life balance has engaged the attention of researchers and executives. In today’s fast pacing life and changing dynamics of civilization, with more and more individuals living independently in nuclear families without much support from their extended families, it is becoming difficult for them to balance their roles to their satisfaction, leading to emotional and occupational stress. Most employees are multi-tasking and with the onset of digital age, boundaries between work and non- work domains have blurred even more, leading to a spillover between the two. Human resource is the key differentiating factor among organisations in this age of knowledge economy. In return for their hard work and commitment employees expect the organisations to recognise their non- work demands and help them better manage these demands by offering supportive organisational climate, and positive work characteristics. The organisations which want to help their employees manage work and non-work (family) responsibilities will benefit from knowing employees' perceptions of supportive organisational climate, and work characteristics, along with their specific impact on employees’ work life balance, job satisfaction, and turnover intentions.

Work-life balance practices are crucial for organisational performance. work - Life Balance (WLB) is a major ‘chauffeur’ in any organisation that aids to accomplish developed efficiency. It is a vigorous blend of both operative's labour - life and individual - life. There are many factors influencing work-life balance of an employee in the organization. Disruptions take diverse forms and affect various aspects of work and the lives of entities in workplaces and families of individual employee. Aim of this paper is to conduct an empirical exposition (multi-disciplinary approach in holistically analysing and addressing) of some pertinent issues pertaining to work - life balance in 21st century, employing theoretical concepts and empirical behavior models for understanding inherent nuances and intricacies towards achieving the ‘balance”. Questions addressed are: What are the emerging work-life stressors and strategies? Are today’s work-life strategies relevant in the fourth industrial revolution? How to design solutions to disruption-related issues of emerging workplace? Will interpersonal relationships at work survive in the Fourth Industrial Revolution? In the empirical part, questionnaire was circulated among the working women managers. Data collection was cross sectional single phase design. Purpose is to assess the incidence of work - life balance and its relation with ‘correlates’. Results and discussion provide indication for a high level of work - life conflict leading to imbalances. Major finding is that job satisfaction of the working women managers is not only dependent on their work life balance but is also mediated by their perception of organizational climate. Findings of the study have future implications for organisations and society.

Key Words: Work Life Balance, Job Satisfaction, Organizational Climate, Stress.

Introduction

“The justice of universe says that all components should be in consonance of the law of universe. Any imbalance in even one of the component can cause imbalance to the universe. Universe is full of activities, movements, change and therefore transformation and so is organization. Organization is everywhere, right from the smallest particle atom to the solar system. And so is a family which may be

considered as a first organization of human beings. The dynamics of family are changing, from sole male bread winner families to dual earner families where husband and wife both are (‘neuro - oriented’) working. Just like an atom is not a chaos as there is a balance maintained by the constituents of the atom, the electrons getting conditioned and ruled by a central nucleus, and the solar system (‘neuro - oriented’) working beautifully by the power of the Sun who organizes the system similarly individuals are also governed by power of organizing their lives in a more harmonious manner. Individuals have the capacity to think consistently, logically, and in an organized manner and so creating a balance between their married life and professional life. By keeping beside the distraction, egoism, individualization and differences, man and woman can together have a balance between (‘neuro - oriented’) work and life: Bhagwad Gita”.

Cognitive abilities, reserved for humans, are being carried out on an increasing rate. (‘neuro - oriented’) work - life balance is the order of 21st Century. In the contemporary world where the boundaries between (‘neuro - oriented’) work and home have blurred, thanks to the highly competitive globalized world and the digital age, balancing (‘neuro - oriented’) work and non (‘neuro - oriented’) work life is a challenge in a (‘neuro - oriented’) working professional’s life. Within the past decade or so, the global (‘neuro - oriented’) workplace has seen increased numbers of (‘neuro - oriented’) working women, dual-career and single parent families, and increased numbers of employees with elder care responsibilities; evaporation of (‘neuro - oriented’) work–life boundaries as advanced technologies enable some paid (‘neuro - oriented’) work to take place from locations including home, car, vacation, etc. (Valcour and Hunter, 2005). Employees are devoting a greater amount of time to (‘neuro - oriented’) work at the office, often extending their (‘neuro - oriented’) work day by bringing (‘neuro - oriented’) work home. It is generally agreed that (‘neuro - oriented’) work-life balance has become more difficult, and the (‘neuro - oriented’) work-life conflict has increased immensely (particularly role overload), suggesting that a greater proportion of (‘neuro - oriented’) workers are experiencing greater challenges in balancing their role of employee, parent, spouse, elder care giver etc., a decrease in job security; and a blurring of (‘neuro - oriented’) work-family boundaries due to technological change (Duxbury and Higgins, 2001, 2007; Parker and Arthur, 2003). They have become more stressed, physical and mental health has declined, and so has satisfaction with life. Consequently jobs have become more stressful and less satisfying, and employees are more likely to be absent from (‘neuro - oriented’) work due to ill health. This could lead to increased turnover intention among employees, which may then have an effect on the employee's level of organizational commitment as well (Skinner and Pocock, 2008).

As many individuals juggle several significant life roles (e.g., parent, spouse, child, (‘neuro - oriented’) worker, student, community member), role conflict has contributed to (‘neuro - oriented’) work-life imbalance. The definition of (‘neuro - oriented’) work-life balance (WLB) is complex and appears to be endless. Many researchers find it challenging to define WLB. Researchers mostly view (‘neuro - oriented’) work–family balance as the absence of (‘neuro - oriented’) work–family conflict, or the frequency and intensity in which (‘neuro - oriented’) work interferes with non (‘neuro - oriented’) work life as people may be involved in multiple roles outside their family life e.g. leisure roles and community roles (Frone 2003). (‘neuro - oriented’) work and personal life roles are central to most of the adult’s identity and well-being. Clark and Kirchmeyer, (2000) defined (‘neuro - oriented’) work–family balance as “the extent to which individuals are equally engaged in and equally satisfied with (‘neuro - oriented’) work and family roles” (p. 513). Guest (2002) argues that (‘neuro - oriented’) work-life balance should be defined in both subjective and objective terms, wherein the subjective measure is the individual’s subjective perception of individuals’ balance between (‘neuro - oriented’) work and the rest of life and the objective measure is the consequence of behavior, for example, time devoted to (‘neuro - oriented’) work or other demands. Blunsdon et al. (2006) suggested that (‘neuro - oriented’) work-life balance exists when there is no conflict between domains. Regardless of one’s personal definition for balance, most people know when they are out of balance: they are constantly tired, feel as if their choices are limited, have minimal control, and are no longer able to effectively manage their lives. It is about individuals having some form of control over when, where and how they (‘neuro - oriented’) work (Pocock, 2005). WLB is accomplished when people's right to carry out what is needed for their life, inside as well as outside paid (‘neuro - oriented’) work, is respected and approved as a common benefit to people, society and business (Pocock). The term 'life balance' is used to describe the balance between (‘neuro - oriented’) work and family obligations but also encompasses other non-(‘neuro - oriented’) work responsibilities such as friends, hobbies, and community service, for this study. (‘neuro -

oriented’) work/family balance can be thought of as an individual’s overall experiences related to the interface between (‘neuro - oriented’) work and family related roles, tasks, and responsibilities. In this study, (‘neuro - oriented’) work/family balance is represented by the relationship between (‘neuro - oriented’) work/family, personal life conflict.

Literature Review

Research has found that far more number of subjects report that they feel (‘neuro - oriented’) work is impinging into their family and non-(‘neuro - oriented’) work spheres than respond that they feel non-(‘neuro - oriented’) work is interfering in (‘neuro - oriented’) work responsibilities (Gutek, Searle, and Klepa, 1991). (‘neuro - oriented’) work-life balance has emerged as a major theme during the last two decades, which witnessed a substantial intensification of (‘neuro - oriented’) work caused by economic uncertainty, organizational restructuring, and increase in business competition (Green, 2001; Millward et al., 2000). To respond to the new conditions, organizations demand higher performance and commitment from their employees, which is translated into expectations for (‘neuro - oriented’) working longer and for prioritizing (‘neuro - oriented’) work over personal life (Perrons, 2003, p. 68-72). Indeed, recent survey data suggest that the pressure on employees to (‘neuro - oriented’) work longer hours under inflexible (‘neuro - oriented’) work schedules is ever increasing (Department of Trade and Industry, 2002c).

In the global race for talent, employee attraction, engagement and retention have become major concerns for companies. (‘neuro - oriented’) work–family balance is at the core of issues central to human resource development (HRD). Studies conducted by Allen (2000) have reported that (‘neuro - oriented’) work-family conflict is associated with (‘neuro - oriented’) work-related, non-(‘neuro - oriented’) work related and stress-related deleterious outcomes. Indicators of balance have been associated with greater employee commitment, job satisfaction (Allen et al., 2000; Kossek and Ozeki, 1999), and organizational citizenship behavior (Bragger, Rodriguez-Srednicki, Kutcher, Indovino, and Rosner, 2005). The absence of balance, notably high levels of (‘neuro - oriented’) work–family conflict, has been linked to greater turnover intention (Allen et al., 2000; Kossek and Ozeki, 1999) and greater sickness absence (Jansen et al., 2006). In addition, (‘neuro - oriented’) work–family balance has been linked, though modestly, to employee performance (Allen et al., 2000; Kossek and Ozeki, 1999). In a meta-analysis of the organizational role conflict literature, Jackson and Schuler (1985) found that indicators of balance have been significantly correlated with reduced job satisfaction, higher levels of tension, reduced levels of commitment, and a propensity to leave. It is argued that (‘neuro - oriented’) work and family issues are at least as important to organizational functioning as family functioning (Barnett, 1998). A clear connection between (‘neuro - oriented’) work and family stressors and employee strain has now been established (e.g., Allen, Herst, Bruck, and Sutton, 2000). Breakspear and Hamilton (2004) argue that employees nowadays seek a more balanced life and an employee without good well-being could be counterproductive to both the organization and other colleagues. (‘neuro - oriented’) work-family balance is not only important for individuals and their families, but also for the organizations that employ them. Literature suggests that the absence of (‘neuro - oriented’) work–family balance, typically defined in terms of elevated (‘neuro - oriented’) work–family conflict, has been shown to affect important organizational outcomes, such as job satisfaction (Netemeyer et al., 1996), organizational commitment (Wiley, 1987), employee turnover (Netemeyer et al., 1996), absenteeism and tardiness (Goff, Mount, and Jamison, 1990; Hammer, Bauer, and Grandey, 2003; Thomas and Ganster, 1995), and job performance (Aryee, 1992; Frone, Yardley, and Markel, 1997; Kossek, Colquitt, and Noe, 2001; Wayne, Musisca, and Fleeson, 2004). Additionally, (‘neuro - oriented’) work-family conflict is associated with distress/burnout (Frone et al., 1992; Frone et al., 1997; Grandey and Cropanzano, 1999), decreased psychological health (Frone et al., 1995; Frone, M.R., 2000; Major, Klein, and Ehrhart, 2002; Kinnunen and Mauno, 1988; Frone, M.R., 2003), and alcohol abuse (Frone, M.R.,2000; Frone, Russell, and Cooper, 1992), and organizational performance (Allen, Herst, Bruck, and Sutton, 2000; Kossek and Ozeki, 1998). In addition to these costs, research has suggested that managers and executives who lead unbalanced lives often demonstrate flawed management and leadership behavior patterns, inappropriate attempts to control, harsh responses to others' mistakes, reluctance to seek help, and failure to praise direct reports (Kofodimos, 1993). This evidence indicates that, implicitly or explicitly, (‘neuro - oriented’) work–family balance is at the core of HRD’s major functions and that it may be a powerful leverage point for promoting individual and organizational

effectiveness.

As a result of increased competition for employee talent and greater investment in employee development, turnover has become more costly, making employees’ job satisfaction and commitment a critical human resource issue (Cliffe, 1998). Supportive (‘neuro - oriented’) workplace environments have a multitude of elements that make employees feel as though their demands and constraints are understood. Jang (2009) found that positive steps to create (‘neuro - oriented’) work environments that adapt a family-friendly culture are beneficial to employees, as it has been linked to less negative (‘neuro - oriented’) work spillover into family life. Research indicates that the most important component of the family culture is a supportive supervisor (Clark, 2001; Galinsky, Bond, and Friedman, 1996; Thomas and Ganster, 1995; Thompson et al., 1999; Warren and Johnson, 1995)Galinsky et al. (2009) found that the perception of having a supportive (‘neuro - oriented’) work environment, where a dialogue exists between employee and supervisor can increase employee job satisfaction, as well as loyalty, which is beneficial for the employee and positively correlated with (‘neuro - oriented’) workplace productivity. Thompson et al. (1999) observed that managerial or supervisor’s support for (‘neuro - oriented’) work-family is considered as an integral dimension of (‘neuro - oriented’) work-family climate/culture. Supervisors often represent the entire organization to their employees (Allen, 2001, Aselage, Sucharski, Eisenberger, and Stinglhamber, 2006). It is said that employees leave their managers and not the organizations. As agents of the organization, employees tend to view their supervisors' favorable or unfavorable treatment of them as indicative of the organization's support, leading to their job satisfaction.

Job satisfaction can be defined as a positive emotional state which comes from a successful assessment of an individual’s job or job experiences (Paton, Jackson and Johnston, 2003). Locke (1976) defined it as “a pleasurable emotional state resulting from the appraisal of one's job or job experience”; job satisfaction is an interaction between what employees want from their jobs and what they feel they receive. Spector (1997) defines it more simply as "...the extent to which people like (satisfaction) or dislike (dissatisfaction) their jobs". Researchers have found that those who experience more (‘neuro - oriented’) work interference with family life experience less commitment to the organization as manifested in higher turnover intentions, more absenteeism, more leaving (‘neuro - oriented’) work early (Boyar, Maertz, Pearson, and Keough, 2003; Boyar, Maertz, and Pearson, 2005) and lower job satisfaction (Bedeian et al., 1988; Burke and Greenglass, 1988; Parasuraman and Simmers, 2001; Carlson and Perrewe, 1999). Researchers argue that employees who feel that the organization is involved in a positive social exchange will in turn have more positive attitudes toward the organization, such as increased job satisfaction (e.g., Judge, Boudreau, and Bretz, 1994), which is an indicator of an employee’s perception of his (‘neuro - oriented’) work environment as a whole.

Inquiries and Hypotheses

The purpose of this study was to explore the incidence of (‘neuro - oriented’) work life balance and empirically test a theoretical relationship between (‘neuro - oriented’) work life balance and its ‘correlates’ – supervisors support and its impact on job satisfaction.

RQ: To what extent does overall perception of (‘neuro - oriented’) work life balance and supervisors support predict the variation in job satisfaction?H 1: Provision of supervisor support will be positively associated with (‘neuro - oriented’) work-life balanceH 2: Provision of supervisor support will be positively associated with job satisfaction.H 3: There is a positive association between job satisfaction and (‘neuro - oriented’) work-life balance.

The study has dependent and independent variables, job satisfaction and (‘neuro - oriented’) work life balance being the dependent variables and supervisors support being the independent variable in this research question.

Methodology

The study used an exploratory/ predictive non-experimental quantitative research design to examine

the relationship between the study variables. A Single Cross- Sectional study was carried out, which was concerned with collecting data from a panel of women managerial professionals via questionnaires. The survey questionnaire was sent to 400 (‘neuro - oriented’) working women managers and finally 230 usable responses were used in data analyses.

Measures

Job Satisfaction

Job satisfaction was assessed with the 2-item Job Diagnostic Survey JDS by Hackmen and Oldham (1975). The scale had five response choices ranging from 1 = strongly disagree to 5 = strongly agree. The scale had two items; adapted from Spector et al. (1988) reported a coefficient alpha of .90 for the full scale. Higher scores indicate higher levels of Job Satisfaction.

Supervisor’s Support

Support at (‘neuro - oriented’) work assessing the extent to which relationships with co-(‘neuro - oriented’) workers and supervisors are perceived as supportive, was measured by averaging responses to the questions revised from the Whitehall II survey (1989). Higher score means higher supervisor’s support. The Cronbach alpha of this scale is 89.

(‘Neuro - Oriented’) Work Life Balance

Overall (‘neuro - oriented’) work life balance was measured using a five item scale. The Items were measured on a 5-point Likert scale that ranged from 1= Strongly disagree to 5 = Strongly agree. Higher scores represent high levels of (‘neuro - oriented’) work life balance.

Data Explorations

In order to evaluate the data collected in this study, the statistical software version SPSS 22.0.was used. A questionnaire was used to survey participants on a voluntary and confidential basis. Reliability was used to determine the alpha coefficient of each measurement. The survey questionnaire was sent to 400 (‘neuro - oriented’) working women managers and finally 230 usable responses were used in data analyses. . The majority of participants (73%, n=167) were married; and 27% (n=63) were single. Inferential statistics including one-way analyses of variance (ANOVA), Pearson's product moment correlation, and regression were used to analyze the relation between the variables of study. ANOVA were conducted to determine whether perceptual differences exist among the means of job satisfaction, (‘neuro - oriented’) work life balance.

Table 1

Correlation: Supervisor Support, (‘Neuro - Oriented’) Work Life Balance And Job Satisfaction

Variable Mean SD 1 2 3(‘neuro - oriented’) work

life Balance (WLB)

3.9091 .78508 1

Job Satisfaction 3.13 1.037 .364** 1

Supervisor Support 2.438 .75785 .739** .372** 1

The correlation indicates that there is a highly significant positive relation between supervisor support and both (‘neuro - oriented’) work life balance ( r = .739 , p < .01) ; job satisfaction ( r = .364, p < .05); and (‘neuro - oriented’) work life balance with job satisfaction (r = .372, p < .05). Hence all the hypotheses are accepted. Linear regression was used to examine the impact of the employee’s perception of his (‘neuro - oriented’) work life balance and supervisors support on job satisfaction. Both the variables were regressed to determine the relative contribution of the predictor to job satisfaction. The outcome of the regression is shown as follows.

Table 2

Model Summary of

RegressionModel R R Square Adjusted R Square

.394 0.156 0.148a. Predictors: (Constant),

WLB, Supervisor support

From the regression model in table 3, it can be seen that the value of R Square is 0.156 . This indicates that the (‘neuro - oriented’) work life balance and supervisors support explains 15.6 % variation in the Job satisfaction. The fitness of the regression model was checked with the help of the ANOVA table as below:

Table 3

ANOVA TableModel Sum of

Squares

df Mean

Square

F Sig.

Regression 20.16 10.08 19.997 .000Residual 109.386 217 0.504Total 129.545 219a. Dependent Variable: Job Satisfaction Totalb. Predictors: (Constant), WLB, Supervisor support

It can be seen that the value of regression coefficient is significant and the regression model fits the data. The value of the regression coefficients:

Model Unstandardized Coefficients Standardized Coefficients t

B Std. Error Beta

(Constant) 1.188 0.249 4.771Supervisor support 0.192 0.091 0.196 2.113WLB 0.165 0.067 0.227 2.45a. Dependent Variable: Job Satisfaction Total

Analysis shows that (‘neuro - oriented’) work life balance and supervisor support explains 15.6% % variance in Job Satisfaction. The coefficient value was found significant as the significance level of the F ratio was less than .05. The regression analysis validated H2 that (‘neuro - oriented’) work life balance and supervisor support significantly predicts variation in the overall job satisfaction index. Rest of the variance was explained by some other factors, not considered by the researcher. Overall, the regression model for Job Satisfaction was significant and moderate (R² = .156, F = 19.997 , p< .001). Finally, the variance inflation factors (VIF) were examined for evidence of multi-co linearity, the scores from the present study were all below 3.0, indicating no evidence of multi co-linearity unduly influencing the regression estimates.

Recommendation

A (‘neuro - oriented’) work-life balance is all about separating your professional and personal lives without allowing one to have a negative effect on the other. As both are important, neither of them should be neglected. Some issues that merit attention in future explorations are;

1. Emerging (‘neuro - oriented’) work-Life Stressors and Strategies in Fourth Industrial Revolution

2. Managing Emerging (‘neuro - oriented’) work and Stressors in Fourth Industrial Revolution3. (‘Neuro - oriented’) work-Life Strategies Relevant in the Fourth Industrial Revolution?4. Disruptions of Fourth Industrial Revolution: Implications on (‘neuro - oriented’) work-

Strategies5. Skills to Strategies: Managing (‘neuro - oriented’) work-Life in Age of Disruption6. Developing globally relevant skills in 4IR7. Uncertainties around future of (‘neuro - oriented’) work- effect on (‘neuro - oriented’) work-

satisfaction8. Framing human challenges in fourth industrial revolution a reality or myth?9. Designing solutions to disruption-related issues of the emerging (‘neuro - oriented’)

workplace10. Exploiting the risks of the (‘neuro - oriented’) work-family interface in the 4IR

Recommendation

An important contribution of the study is the identification of the indirect effect of supervisors support on the employees (‘neuro - oriented’) work life balance and job satisfaction. The findings of this study support the theory of social exchange between employees and their employers related to (‘neuro - oriented’) work-family issues. According to the social exchange theory, employees and their organizations (including supervisors, and co(‘neuro - oriented’) workers) engage in social exchange transactions over time. In return for their hard (‘neuro - oriented’) work and commitment employees expect the organizations to recognize their non-(‘neuro - oriented’) work demands and help them better manage these demands by offering supportive organizational climate, and positive (‘neuro - oriented’) work characteristics. The organizations which want to help their employees manage (‘neuro - oriented’) work and non (‘neuro - oriented’) work (family) responsibilities will benefit from knowing employees' perceptions of supportive organizational climate, and (‘neuro - oriented’) work characteristics, along with their specific impact on employees’ (‘neuro - oriented’) work life balance, job satisfaction, and turnover intentions. Based on the social exchange theory, it was expected that formal support to increase job satisfaction. The results confirmed our hypothesis. The regression analysis allowed us to identify the specific effect the supervisor support and (‘neuro - oriented’) work life balance have on job satisfaction. In summary, the study findings and previous research suggest, organizations need to be aware that support practices and (‘neuro - oriented’) work characteristics may not affect directly job satisfaction and (‘neuro - oriented’) work life balance. Rather, as suggested by Wayne et al. (1997), these practices serve as signals to employees about the extent to which the organization values and cares about them as individuals, which then influences satisfaction and turnover intentions (Hom and Griffeth, 1995). Given the importance of informal support, new organization-based measures are called for to increase supervisor and co(‘neuro - oriented’) worker support, and the supportive (‘neuro - oriented’) work-family culture. Supervisors and co(‘neuro - oriented’) workers should be encouraged and trained to support their subordinates' and colleagues' family and non (‘neuro - oriented’) work obligations. They should create a (‘neuro - oriented’) work culture in which employees do not fear that they will be penalized for experiencing (‘neuro - oriented’) work-life conflict. Both supervisors and co(‘neuro - oriented’) workers need to receive reasonable support in their attempts to address (‘neuro - oriented’) work-life balance issues. Employers should embrace these results and attempt finding solutions to improve these factors in order to reduce the number of valued employees developing thoughts of leaving the company. This would save a number of organizations from the tremendous costs of hiring new potential employees due to loss of talented staff members (Lam, Lo, and Chan, 2002).

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AN EMPIRICAL ANALYSIS OF VISUAL MERCHANDISING IN DYNAMICS OF

CONSUMER BEHAVIOUR

James Hussain

(Guest Faculty in Department of Management, University- Maulana Mazharul Haque Arabic &

Persian University, Patna)

Abstract

In Rapid Moving World, Retailers are facing Severe Competition after Globalisation & Increasing in

Income Level of consumer. It has become very challenging Task for Retailer to understand the

Perception of consumer Behaviour. Retailers are trying to stay ahead in changing consumer

Preferences. Retailers used Visual Merchandising as a tool only to convert shopper into buyer but

also building relationship with customer in Dynamic Market place The purpose of the Study is to

find out the relationship between Visual Merchandising and Building Customer Relationship.

Hypotheses formulated to test the premise. The Research Based on Deductive Research

Approach & Quantitative Research Approach. The study based on Primary Data, which were

collected from different Organised Retail Outlets of Patna. The Survey of 111 respondents of

Different Outlets of the Organized Retail Sector through a Questionnaire. For the Describing &

Analysing the Result, used Descriptive & Inferential Statistics to Arrive at Conclusion. The Data

were analysed by Linear Regression Analysis, Correlation to Summarize the Data. The Cronbach’s

Alpha Statistics used for Reliability Test to find out the Internal Consistency of Score. Validity Test

is used to Analyse the Assumption Supported by the Finding or not. The Research Revealed that

Visual Merchandising Influence the Building Relationship with customer in Dynamic Market Place.

Keywords: Visual Merchandising, Dynamics of Consumer Behaviour.

1.INTRODUCTION

In Today’s Retail Environment, Retailers are facing cut throat competition after urbanisation &

Increasing Income Level of Consumer. The aim of retailers are not only to convert shopper into

buyer but also will be given better Customer Experience.

2.REVIEW OF LITERATURE

Visual merchandising is all about arrangement of Product in order to improve visitor and building

relationship with customer Bhalla,S & Anuraag S, (2010).Smooth customer flow influence

customer purchase decision and improving sound relationship with shoppers. Levy & Weitz,

(2012) added lighting can enhance the retail space and increase the value of the product in

customer’s mind.it only facilitate deliver better customer experience but also building relationship

with customer. Bell & Ternus (2012) it act as the ‘Silent Salesman’. They will help customer for

easy shopping Gibson V. (2010)Window dressing plays important role to improve sales and

enhancing customer relationship. Mcewan H. (2010) Sen.et.al (2002) window displays which

would influence buying decision and improve better customer experience.

3. RESEARCH PROBLEM

After the Globalization and Urbanisation, the Retailers are Facing Fierce Competition. As we know

that, there is a Huge Amount of Money and Time Invested by the Retailers to build relationship with

customer. The aim of the Study is to find out the relationship between Visual Merchandising and

Dynamics of Consumer Behaviour.

4.GAP IN KNOWLEDGE

The Review of Literature Shows that there are Various Research Papers from the Visual

Merchandising Practices Sector in the Different States of India but there is no Research Work done

yet on various Organised Retail Stores of Patna to See the Impact of Visual Merchandising on

Dynamics of Consumer Behaviour.

5. OBJECTIVE OF THE STUDY

1.To Find out the relationship between Visual Merchandising and Building Customer Relationship

2.To investigate the Effect of Visual Merchandising on Dynamic Consumer Behaviour

6.RESEARCH METHODOLOGY

The main objective of the study was as to identify and evaluate the Dynamics of consumers

towards the Visual Merchandising. The Descriptive Research Design used for study. The Research

Methodology is Designed to Investigate the Influence of Impact of Visual Merchandising on the

Dynamics of Consumer Behaviour. The Research Approach is Deductive and Quantitative in

Nature. The Primary Data used for the Study.

6.1 DATA COLLECTION AND SAMPLING-

In order to Investigate the impact of Visual Merchandising on Dynamics of Consumer Behaviour

within the age group of 15 years to 60 years and above were selected. The Primary Data were

Collected from different Organised Retail Outlets of Patna through a questionnaire. There are 111

Samples of the Study Which Collected through Various Organised Outlets of Patna.

6.2 HYPOTHESES OF THE STUDY

H1: There is a Significant Relationship between Energy Efficient Light & Dynamics of Consumer

Behaviour.

H2: Window Display has a Significant impact on Dynamics of Consumer Behaviour.

H3: There is a Significant Relationship between Point of Sale & Dynamics of Consumer Behaviour.

6.3 How Variable of the Visual Merchandising Influences the Dynamics of Consumers

Behaviour.

H1

H2

H3

Figure 1. – Variable Framework of the Study

Self-Generated

6.4 RELIABILITY ANALYSIS QUESTIONNAIRE

Table 1. Reliability Test of Study

Variable Variance Alpha valueEnergy Efficient Lighting 7.892 0.954Eco -Friendly Product 9.212 0.957Eco -Friendly Point of Purchase 9.688 0.990

From the above table, the reliability test for all four variables was carried out using SPSS22.0. The

Cronbach’s Alpha of the reliability test was 0.962 for Energy Efficient lighting, 0.967 for the Window

Display, 0.990 for Point of Sale. It means questionnaire is most reliable & significant.

7.HYPOTHESES TESTING (INFERENTIAL STATISTICS)

Table 2. Hypotheses Testing

Hypothesis ANOVA

Or F

R Square

P-

value

Asymp

. Sig.

P<.05

Result

Conclusion

Energy Efficient Light

Visual Merchandising Dynamics of Consumer BehaviourWindow Display

Point of Sale

H1. Energy

Efficient

Lighting

.000b

.852

.000 Accepte

d

Dynamics of Consumer

Behaviour influenced by Energy

Efficient Lighting

H2. Window

Display

.000b .859 .000 Accepte

d

Dynamics of Consumer

Behaviour influenced by Window

Display H3 Point of

sale

.000b .780 .000 Accepte

d

Point of Sale Influenced the

Dynamics of Consumer

Behaviour

From the above table, the R-square (coefficient of determination) value of Energy Efficient Lighting,

Window display, Point of Sale is 0.852,.859 & .780 respectively. It shows that all the model is fits

for data. The P-value of all variables are .000 which is less than 0.05. It means that the all

Variables are positively Influenced towards Dynamics of consumer behaviour.

8.VALIDITY TEST OF THE STUDY

Table 3. Correlations between Visual Merchandising and Dynamics of Consumer Behaviour.

Visual MerchandisingVisual Merchandising Pearson Correlation 1

Sig. (2-tailed)

N 111

Dynamics of Consumer

Behaviour

Pearson Correlation .757**

Sig. (2-tailed) .000

N 111

**. Correlation is significant

at the 0.01 level (2-tailed).

Based on the above table shows, the significant value is r = 0.757** So, it can be said that if the

Visual Merchandising level will increase, then the Dynamics of consumer behaviour will also

increase with 75%. It means when the Visual Merchandising will increase, then it will influence the

Dynamics of Consumer Behaviour in the Shop.

9.DATA ANALYSIS AND INTERPRETATION

9.1 VISUAL MERCHANDISING INFLUENCED GENDER

Table: 5 The percentage of the respondent based on Gender

Gender Category Frequency %

Male 63 56.75

Female 48 43.24

Total 111 100.0

SOURCE-SAMPLE SURVEY 2018

Graph 1 The percentage of the respondent based on Gender

Analysis: Based on the figure above, majority of the survey’s respondent are male with 56.75.%

while the remaining with 43.24% is female. The purpose of the study to know the impact of Visual

Merchandising on Dynamics of Consumer Behaviour.

10. CONCLUSION

1. The Most Impactful Sustainable Visual Merchandising Practices element according to

customers are Energy Efficient lighting, Window Display and Point of Sale.

2. There is deeply influence of Visual Merchandising Practices on the Dynamics of Consumer

Behaviour.

3. Most of the Customers visit here (about 36.01%) are having annual income 200001-4 lac

4. Most of the customer (about 36%) of organised outlets belongs to students.

5. Most of the visitors of outlets (about 41. %) are belong to 15-30 age group.

11. RECOMMENDATION

6. As per the Result, there is between Visual Merchandising Practices and

Dynamics of Consumer Behaviour

7. The Study is Suggested that Visual Merchandising not only influence the

customer to buy product but also give Best Customer Experience.

8. The Study Reveals that the use of Energy Efficient Lighting, Window Display, &

Point of Sale, it would not only Minimize the Indirect Cost of the store but also

enhances the Profit of Store.

9. The Study is Suggested that Retailers can Survive for long term by adapting

Visual Merchandising Practices as Strategies that Meet the Need of Organised

Retail.

12. LIMITATION OF THE STUDY

a. There was limited Time & limited resource.

b. The Study was Confined in Patna.

c. Apart from Visual Merchandising, there is the influence of other mediums like television,

newspaper, and radio used for communicating the Discount and scheme.

13.ADVANCEMENT IN EXISTING KNOWLEDGE

c. The Research Findings contribute to a better understanding of Visual Merchandising

Practices and its influence on Dynamics of consumer behaviour and sale,

d. It breaks the dilemma of Retailers in term of Visual Merchandising Practices.

e. This Study reveals that the Visual Merchandising Practices have huge influences on

Dynamics Behaviour and it has stimulated sale in Dynamic Market Place

f. The Study helps Retailer to Better Customer Reach.

14.SCOPE FOR FURTHER STUDY

This Study Examined limited factors of Visual Merchandising Practices affecting the Dynamics of

Consumer Behaviour. Further Research can be done on the impact of other elements of Visual

Merchandising Practices such as Fixture, Props, Music, Store Design, Cleanliness, design layout,

product display, and Floor Merchandise etc., Associated with the Dynamics of Consumer

Behaviour in the Indian context as well as International Context.

15.REFERENCE

1. Bhalla, S., & Anuraag, S. (2010). Visual merchandising. Nagar, New Delhi: Tata McGraw Hill

2.Levy, M., & Weitz, B. (2012). Retailing management (8th ed.). New York, NY: McGrawHill/Irwin

3.Bell, J., & Ternus, K. (2012). Silent selling best practices and effective strategies in visual

merchandising (4th ed.). Manhattan, New York: Fairchild.

4.Gibson V (2010),Retail Management,functional principles and practice.Third edition

Jaicopublication.

5.Mcewan H. (2010) ‘An insight into visual merchandising , retrieved 12th August 2012 from

6. Extracted from https://www.emeraldinsight.com/doi/full/10.1108/IJRDM-02-2015-0024

7.Extractedfromhttps://lib.dr.iastate.edu/cgi/viewcontent.cgi?

article=1167&context=undergradresearch_symposium

8. Thomas .C. George, Research Methodology & Scientific Writing,ane books Pvt.Ltd

9.Chawla Deepak,Sondhi Neena, Research Methodology Edition 2, Vikas publishing house Pvt.

Limited

ADOPTING FLEXIBLE WORK TIMING IN THE ORGANIZATION FOR THE OPTIMUM

UTILIZATION OF RESOURCES IN THE 21ST CENTURY

Faryas Kausar Ansari(Research Scholar, Dept. of Applied Economics & Commerce, Patna University, Patna)

Abstract

Changes in economy, technology, social and lifestyle in today’s environments have boosted the

awareness of flexible working in the organizations. New working practices have received a great

deal of attention in the last few years from a range of organizations, business leaders, unions,

women’s organizations, academics and so on. The Flexible Work Timing allows employees to

focus on multiple roles in today’s competitive working environments. This arrangement has been

widely practiced in order to create balance between work and personal life. The main purpose of

the research study is to know how flexible work timing helps in optimum utilization of resources.

The data were collected from organizations in Patna region through questionnaire. Inferential and

Descriptive Statistics has been used for analysis of data. Centre tendency, pie charts, bar graphs,

percentage, chi square and contingency coefficient were used while analyzing the data obtained.

Hypotheses is tested by using the statistical packages for social science (SPSS) software. The

research study reveals that Flexible working encourages employees in attaining motivation level. It

enhances their productivity. In today’s business world, the employee’s productivity is related to the

profitability of the business.

Key Words: Flexible Work Timing, Resources, Work Environment.

INTRODUCTION

Flexible working timing refers to those working patterns different from the normal working patterns;

they can involve changes to the hours an employee works, the times they are required to work or

their places of work. The flexible work timing consists of part time, overtime, long term leaves, job

sharing, flexitime and shift work (Chung & Tijdens, 2012; Jones & Jones, 2011). Working time

flexibility is one of the many different forms of flexibility. A key characteristic of flexible work timing

is the ability to modify the working hours by either the employer or the employee or both of them.

Flexible Work Timing can be seen from the perspective of the employer or the perspective of the

employee. ‘Employer-friendly’ forms of working time flexibility are those that allow organizations to

bring human capital in line with the temporal requirements following from business, while

‘employee-friendly’ forms of working time flexibility are those ‘that provide workers with the freedom

to adapt their working hours and schedule to meet their own personal and family needs’.

Each employee is working in an organization wants some kind of freedom for their own

development. As a human being, every individual has to take care of his health and mind. Working

for the whole day with no changes in his regular schedule makes an employee dull and inefficient

due to fatigue at his workplace. Even as a family person he or she is not capable of fulfilling his

responsibilities at home. Working individuals have to face challenges at their workplace and at

home. Working under stress and pressure, employees start losing their confidence, efficiency,

effectiveness and productivity.

So, it is important that employees are treated well as a human being not as machines at their

workplace. Job satisfaction and motivation plays an important role in enhancing the employee's

performance.

Flexible working covers a number of different working practices, from shift work, seasonal work,

weekend working, temporary contracts of employment and part – time working as well as

teleworking, flexible hours, subcontracting and many variations of these, which have evolved to

suit particular people and jobs. The study, recording responses from the European Association of

Personnel Managers (EAPM) divides the types of flexible working arrangements into different

categories. Flexibility in the number of working hours or the distribution of working time includes:

Part-time working;

Job-sharing;

lexible work time including banked hours/time off in lieu;

Annualized hours;

Flexible daily hours;

Term-time working;

Overtime; and

Shift working

Figure:1 Flexible Work Timing

Used by Different

Organisation

Job-Sharing

Part-Time working Flexible work time including banked hours/ time off in lieu

Annualized-hoursFlexible days hours

Flexible working timing used by

different Organisation

Overtime

Term- time working Shift Working

Literature- Review

Manjari Srivastav (2011) in her research work supported the policies for flexible work schedule as

it helps in talent retention and employee commitment. These policies can only be effective if

organization work towards changing the culture of ‘long working hours.” Recent survey published in

Economic Times (13 July 2012) also revealed that over 50% of the organizations polled in a

timesjobs.com survey said that the frequency of usage of flexibility options is equal among male

and female employees. Vijaya Kumar (2012) concluded in his research work to gain an insight to

the development in the field of HR in the Bangalore IT industry. Most of the respondents were in

favour of flexible working. Companies like Accenture and IBM are providing flexible work

schedule. In another research work related to IT sector by D. Sucharita (2013) also emphasize on

implementation of FWT for Work-Life-Balance as there is a loss of productivity of employees from

stress and other underlying psycho-social work conditions. This study also reinforces the fact that

health care costs can be reduced.

Literature also reveals that part-time and other flexi-schedules are women centric in nature. In

research work by Saundarya Rajesh (2014) states that flexibility in work of women employees is

positively associated with their efficiency. It helps in grooming their career. Flexibility in work helps

the women employees to have Work-Life-Balance. Being a working woman balancing personal

and professional life is not so easy in Indian traditional family.

In another work by Palki Setia and Pankaj Shah (2015) examined flexible working hours from its

positive point of view. The results revealed that flexible working hours is beneficial for both

employee and employer. Flexibility in employment and lower employee turnover and absenteeism

are all outcomes of flexible working practices that at the end leads to increasing company’s

productivity and profitability.

Dr. Parul Deshwal (2015) in his study suggested that FWA is a powerful tool to attract and retain

employees. Employees should be made aware and educated regarding FWA as to who can avail,

under what circumstances and the authority who can give permission etc. So, FWT can be

properly implemented. In another survey by Economics Times (11 Oct 2017) published in its

editorial column supported flexible working hours as one of the major conditions to increase the

women’s participation in the organizations once they are playing the role of a new mother.

Waseem John (2017), in his study suggested that the future researchers need to conduct

empirical studies in order to examine the potential relationship between FWH and the factors

related to organizational productivity. He also suggested future researchers need to conduct

empirical studies in order to examine the potential relationship between FWH and the factors

related to organizational productivity.

Objective of the Study

The main objective of the study is to find out the impact of different types of flexible work schedules

on employees of various selected organizations in Patna. Other related objective is to know how

flexible work timing helps in minimizing cost by efficient utilization of resources.

Statement of the problem

Flexible work time options help the organizations in cutting cost of the organization if implemented

successfully. It also helps employees in creating balance between work and personal life. There is

always a situation of conflict stating that if flexible work timing is provided to the employees, they

may misuse it and hamper the productivity of the organization. But from the point of some other

experts of HRM they state that flexible work timing options helps in reducing the stress and

pressure from both the sides of the employees i.e., personal life and work life, thus meeting the

organizational goals on time.

Research Gap

Asst. Prof. Vijaya Kumar (IJARMSS- Vol.1, No.3, Sep.2012, ISSN: 2278-6236) has conducted his

research on flexible working conditions to retain employees in IT sector in Bangalore (Karnataka).

Asst. Prof. Dr. Parul Deshawal (IJAR 2015; 1(13): 810-814, ISSN Print: 2394-7500, ISSN online:

2394-5869) has conducted his research on impact of Flexible working Arrangements in the MNCs

of Delhi.

On the basis of the study of literature review it is found that there is a big gap in the research study.

Earlier researchers have conducted their research in the field of IT in Bangalore and MNCs of

Delhi.

It is for the first time in my research, I have considered different organizations of Patna for the

study. I have taken three variables i.e., Part-time, Shift-work and changes in hour (flexitime) of

flexible work timing together to know the impact of flexible work timing on motivational level of

employees.

This gap is filled by my research study. Thus, making this research study different, unique and

interesting. This research study will contribute to increase the knowledge related to the subject

matter.

Research Methodology

Table1: 1

Research Approach Deductive

Research Design Descriptive research design

Sources of data collection

Primary method of data collection

Research instrument used Self -Administered Questionnaire

Research Technique Questionnaire (Survey method)

Sample location Patna

Sample techniques Simple Random sampling

Sampling unit

Employee of Doordarshan Kendra, Times of India, Paras-

HMRI Hospital, Big Bazaar and Reliance Trendz

Sample size 327 Customers

Target Population 18 years to 70 years

Research Data Non-parametric

Scale of Measurement

Nominal / Ordinal Scale (5-point Likert scale)

Analysis of Data Descriptive & Inferential Statistics

Statistical Tool Chi-square.

Variable of Study

Flexible Work Timing (Shift work, changes in hour, Part Time

work) and motivation of an employee.

On the basis of the above table, the deductive approach has been used to formulate the

hypothesis. The descriptive research design is used to arrive at conclusion of the study. The self-

administered questionnaire was formulated for the primary method of data collection. A

questionnaire based on five point likert scale has been prepared for this study. Data was collected

by the simple random sampling method. Target sample of this research consisted of 327

empoyees from Doordarshan Kendra, Times of India, Paras-HMRI Hospital, Big Bazaar and

Reliance Trendz at Patna. three hypotheses has been formulated related to Shift Work, Changes in

Hour and Part Time. Chi-square has been used to test hypotheses by using the statistical

packages for social science (SPSS) software.

Role of flexible works timing in enhancing productivity of employees.

Table 2: The percentage of employees who were agreed that flexible work timing is a must

for enhancing productivity of employees.

Category Male Male % Female Female % Tota

l

No.

Yes 162 49.54 66 20.18 228

No 60 18.35 39 11.93 99

Total 222 67.89 105 32.11 327

Source: Self-Generated

Graph 1: The percentage of employees who were agreed that flexible work timing is a must

for enhancing productivity of employees.

Analysis: According to the above-mentioned table and graph, it can be said that 49.54% of male

respondent and 20.18% of female respondents which means that of 69.72% of respondents feels

that flexible work timing is a must for enhancing productivity. This means a total of 228 employees

feels flexible work timing is a must for improving productivity.

Role of flexible work timing in staff retention of employees.

Table 3: The percentage of employees’ response regarding Flexible Work Training

which helps in staff retention.

Category MaleMale

percentage

Femal

e

Female

percentageTotal

Total

percentage

Yes 148 45.26 72 22.02 220 67.89

No 74 22.63 33 10.09 107 32.72

Total 222 67.89 105 32.11 327 100%

Source: Self-Generated

Graph 2: The percentage of employees’ response regarding Flexible Work Timing which

helps in staff retention.

Analysis: As seen in above mentioned table & graph, 67.89% of total employees were agreed that

Flexible Work Training helps in staff retention and 32.72% of employees do not consider FWT as a

tool for staff retention. This means majority of employees i.e., 220 employees were of the opinion

that FWT helps in staff retention.

Reasons for preferring Flexible Work Timing.

Table 4: The percentage of employees’ different reasons for preferring Flexible Work

Timing.

Category Male Male % Female Female % Tot

al

No.

d. Taking care of dependent family members

71 21.71 28 8.56 93

e. Study or any other personal work

69 21.10 17 5.19 92

f. Doing household activity 43 13.15 49 14.98 92

g. Want to spend time in hobby & leisure

39 11.93 11 3.36 50

Total 222 67.89 105 32.11 327

Source: Self-Generated

Graph 3: The percentage of employees’ different reasons for preferring Flexible Work

Timing.

Analysis : On the basis of above mentioned table and graph, it can be said that out of 327

employee, 21.71% of male respondent and 8.56% of female prefer flexible work timing for taking

care of dependent family members, 21.10% of male & 5.19% of female prefer flexible working

timing to study and other personal work, 13.15% of male and 14.98% of female prefer flexible work

timing of doing household activity and 11.93% of male and 3.26% of female prefer flexible time

prefer flexible work timing for spending time in leisure and hobby work.

Flexible work timing as a cost effective and efficient method.

Table 5: The percentage of employees’ response regarding Flexible Work Timing as a

cost effective and efficient method.

Category MaleMale

percentage

Femal

e

Female

percentageTotal

Total

percentage

Yes 151 67.89 68 20.78 219 66.97

No 71 21.71 37 11.31 108 33.03

Total 222 67.89 105 32.11 327 100%

Source: Self-Generated

Graph 4: The percentage of employees’ response regarding Flexible Work Timing as a cost

effective and efficient method.

Analysis: According to the table & graph, 66.97% of employees considered FWT as a cost

effective and efficient method. 33.03% of employees don’t consider FWT as a cost effective &

efficient method. A total of 219 employees find FWT as a cost effective and efficient method.

Benefits of the Study

The study helps in enhancing the productivity of organizations and reduced turnover of

employees. The study assists to reduce pressure and stress. The study enables organizations to

retain their employees. The study helps to reduce the indirect cost by effective utilization of

element of flexible work timing. The study assists companies to save time and money by using

specific element of flexible work timing. It also helps organization to improve the employees’ job

satisfaction by effective implementation of shift work, part time and changes in hour. It helps to

maximize the profit of firm by retaining the employees. Flexible Work Timing helps in reducing the

stress and pressure from both the sides of the employees i.e., personal life and work life, thus

meeting the organizational goals on time.

Hypothesis Testing

The hypothesis for this study are as follow:

Hypothesis 1-

Ho. The performance of an employee is not significantly influenced by shift work.

HI. The performance of an employee is significantly influenced by shift work.

Hypothesis 2-

Ho. The performance of an employee is not significantly influenced by part time work.

HI. The performance of an employee is significantly influenced by part time work.

Hypothesis 3-

Ho. The performance of an employee is not significantly influenced by changes in hour.

HI. The performance of an employee is significantly influenced by changes in hour.

Hypothesis Test Result

Table: 6

Flexible

Work

Timing

Elements

Pearson

Chi square

df value

Asymp.sig

Or P <.05

Result

Shift Work

6.450a

1

.011

Accepted

Changes in hour

8.793a

1

.003

Accepted

Part Time Work

6.530a

1

. .011

Accepted

The table no. sh ows result of the hypothesis testing of all the three variables of flexible work time.

The main purpose of this study is to know the significant relationship between element of flexible

work timing and motivation level of employees. I have formulated three hypothesis for research:

shift work, changes in hour and part time work. Chi-square has been used to test the hypothesis

by using the statistical packages for social science (SPSS) software.

The chi- square of shift work is 6.450a and the P value is .011 as shown in the significance (2side)

which is below 0.05. It means that alternative hypothesis is accepted. This shows that there is

significant relationship between shift work and motivational level of an employee. Similarly the P

value of changes in hour ( .003) and part time work (.011) which are less than 0.05. This shows

all element of flexible work arrangements are significant with motivation level of an employee.

Findings:

5. The 3 most popular types of work timing arrangements in the selected organization in Patna are

changes in hour (flexi time), part time and shift work.

6. On the basis of this research study there are 327 respondents from selected organizations.

Comprising 222 male respondents and 105 female respondents.

7. The most liked flexible work timing arrangement is changes in hour (flexi time). About 72% of

employees like to work under flexi time arrangement.

8. 70.64% of employees like to work under part time arrangement.

9. 67.58% of employees are comfortable in shift work arrangement.

Conclusion:

10. From the analysis, it can be concluded that flexible work timing has motivational impact on

employees’ performance.

11. According to the present study it can be concluded that out of 3 flexible work timing arrangements

i.e. part-time, shift-work and flexible work timing, most preferred type of flexible work arrangement

among employees is flexi time (changes in hours) and shift work respectively.

12. It can be concluded that flexible work timing acts as a strategic tool to attract and retain talented

employees.

13. Flexible work timing helps in maintaining work-life-balance for employees of retail sector.

14. Reason behind preferring arrangements of flexible work timing between male and female

employees vary. Most common reasons are due to taking care of dependents and children in

family, pursuing higher education, household works, spending time in hobby and leisure activities.

Suggestion:

1. Approximately 70% of employees were agree that Flexible Work Timing enhances their

productivity. So, owners and managers of organization should focus on arranging Flexible

Work Timing to enhance productivity of employees.

2. More than 67% of employees believe that flexible work timing helps in staff retention. So,

owners and managers of the organizations should consider flexible work timing as a tool for

staff retention.

3. Approximately 67% of employees believe that Flexible Work Timing work as a cost effective

and efficient method. Therefore, owners of organizations should consider implementation of

Flexible Work Timing for cost effectiveness & efficiency.

4. As per the study 65% of employees believe that flexibility in work timing increases

productivity and competitiveness of organization. So, owners of the organization should

focus on implementation of flexibility in work timing. It helps to gain competitive advantage.

Limitation:

o The data was collected from Patna region only, so sample was geographically limited.

o The result obtained might be based on the biased approach of the employees.

o Only three types of flexible work timing are taken into consideration.

o Few organisations have been taken into consideration, producing result collectively from these

organisations from Patna district only. Selection of different organisations may give different

results.

o Time has proved to be a major setback in conducting the research study. Time was limited and the

research could not be expanded.

Area for Further Research

1. The present study focuses on the implementation of Flexible Work Timing in organizations for

motivating the employees. Flexible Work Timing is a unique and new field for conducting research

surveys for interested researchers. The present study also indicates about several other areas for

additional research. As already mentioned, this study provided limited information regarding

Flexible Work Timing and its implication, which is an important area for further study.

2. The present study gathered limited information about impact of Flexible Work Timing on motivation

level of employees. In the present research study, the research area is restricted to one

geographical area, i.e. area is restricted to Patna region only. The future research work should test

the findings by collecting samples from different geographical area. The findings of the study based

on 327 observations only. Researchers who wish to conduct research on the present topic might

change the sample size.

3. As discussed earlier, research study is limited to only (3) three elements of Flexible Work Timing

which have been taken into consideration i.e., Part -Time, Shift-Work and Changes in Hour

(flexitime). Further, more elements of Flexible Work Timing might be selected which were

untouched while conducting the research work. Additional elements which could be considered are

job- sharing, annualised hours, flexible daily hours, term- time working and overtime.

Refrences:

Journal papers

• De Menezes, L.M. and Kelliher, C. (2011). Flexible working arrangements and performance:

summary of the evidence for a business case. Available at: http://cassknowledge. com/article.php?

id=539 (accessed 10 March 2011).

• Rahman Abd. Ahmad, Idris, Mohammad. Talha. Mohamed &Hashim ,MohdHilmi (2013). A Study of

Flexible Working Hours and Motivation, Vol. 9, No. 3; doi:10.5539/ass.v9n3p208, URL:

http://dx.doi.org/10.5539/ass.v9n3p208

• Jennifer, T., & Jean, G. (2009). Organisational approaches to flexible working: Perspectives of

equality and diversity managers in the UK. Equal Opportunities

International, 28(8), 671. http://dx.doi.org/10.1108/02610150911001706

• Shagvaliyeva, Sussanna & Yazdanifard, Rashad (2014). Impact of Flexible Working Hours on

Work-Life Balance. AJIBM,2014, 4, 20-23.

• Kumar, Vijay. (2012) A study of Flexible working conditions to retain employees in IT Industries.

IJARMS- Vol. 1, No. 3, Sep. 2012, ISSN: 2278-6236

• Srivastava, Manjari. (2011), “Work Place Flexibility: Implications for Developmental Opportunities

and Work-Family Conflicts”, National Academy of Psychology (NAOP) India, 56 (3): 311-317

• Extracted from https://economictimes.indiatimes.com/jobs/flexible - working practices -

enhance - employee - productivity/articleshow/13067448.cms

• Kumar, Vijaya., (2013), ‘A Study of Flexible Working Conditions to Retain

Employees in IT Industries.’ International Journal of Advanced Research in

Management Social Sciences. ISSN: 2278-6236. Vol. 1 No. 3. Pp 67-76. http//:

www.garph.co.uk

• Sucharita, D., ‘The Impact of Flexible Work on Organizational Performance and Experience of

Employees in selected IT’s and ITES sector’. Extracted from-

http://shodhganga.inflibnet.ac.in/handle/10603/54578

• Rajesh, Saundarya., (2014). ‘Role of Flexible Working Methods as a Career

Enabler for Increasing Workforce Participation of Women in India.’ Dept. of

Management. SRM University. Extracted from- http://

shodhganga.inflibnet.ac.in/handle/10603/33431

• Setia, Palki., Shah, Pankaj. (2015),” Impact of Flexible Working Hours on Work-

Life Balance”, International Journal of Recent Scientific Research. Volume 6, Issue,

4, pp. 3567-3569.

• Deshawal, Parul (2015), “Impact of flexible working arrangements in the MNCs of Delhi”,

International Journal of Applied Research, www.allresearchjournal.com, ISSN Print: 2394-7500,

ISSN Online: 2394-5869.

• Extracted from- https://economictimes.indiatimes.com/wealth/earn/why - working from - home - is - not -

working - out/articleshow/59540574.cms

• John, Waseem (2017), ‘Flexible Working Hours and Organizational Productivity:

Exploring the Potential Linkage,’ AIMA Journal of Management & Research.

Volume 11 Issue 4/4, pp 1-7. ISSN 0974 – 497

Books

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Biological, Psychological, and Environmental, 3rd end, MA: Pearson, Boston

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AN EMPIRICAL STUDY OF THE IMPORTANCE OF PRIOR KNOWLEDGE OF HEALTH CARE INSURANCE FOR SELECTION OF MEDICLAIM INSURANCE

Pratik biswas(Sr.Lecturer, ICFAI University, Jharkhand. Ranchi)

Mridanish Jha(Associate Professor, ICFAI University, Jharkhand. Ranchi)

Abstract:Mediclaim insurance provided by the banks (both nationalized and private banks) is a contract between the insurance company and the customers of the banks who are insured. It is a cashless insurance policy that covers the medical expenses from various medical complications. This paper throws light on the impact of prior knowledge and experience on the purchase of mediclaim insurance policy. The objective of the study is to know whether prior knowledge and experience has any impact on the selection of mediclaim insurance policy.The study concludes that there is a significant relationship between prior knowledge and experience in the selection of mediclaim insurance policy.

Keywords:Health care insurance, Mediclaim insurance, coefficient of correlation.

1. INTRODUCTION

A disease or any health relatedcrisisrequiring hospitalization is not just a major threat to our health

but at the same time it has a big impact on our saving as well. Insurance may be considered as a

defense against a future loss. But it cannot be consider a protection against life or assets.Itcan only

try to reduce the adverse consequences and loss to the insured. General Insurance has a deep

rooted history in India. The Oriental Life Insurance Company” was established in Calcutta in the

year of 1818.Cashless Bima policy is an exceptional health insurance policy provided by both

private and nationalized bank and came into the existence in 1990[1].Banking sector mediclaim

insurance is the distribution of insurance products through the banks using different distribution

channels. It is a healthcare insurance policy offered by the banks to its customers only. Were

insurance products are offered through the distribution channels of the banking services along with

a complete range of banking and investment products and services[2]. Major exclusions of the

policy are: Pre-existing diseases will not be covered. There are a couple of diseases which will not

be covered on the half year depending on the company.24-hrshospitalization or more is

compulsory for a claim to be settled. The time period of the policy is for one year. To continue the

policy one has to pay premium every year at the same time so that the policy should not lapse after

one year [2].

2. Healthcare insuranceVsMediclaim Insurance

Healthcare insurance pays a lump- sum amount on diagnosis of any of the pre-specified critical

diseases, irrespective of one’s medical expenditures. It covers only certain diseases like heart

attack, kidney failure etc.

Mediclaim policy is a hospitalization benefit that is offered by both public and private sector general

insurance companies as well as banks in India. The mediclaim insurance policy takes care of

expenses following hospitalization/domiciliary hospitalization in case of any of the following

situations-

In case of sudden illness or surgery.

In case of an accident.

In case of any surgery during the policy tenure.

2.1Objective of the study

The objective of the study is to know whether prior knowledge and experience has any impact on

the selection of mediclaim insurance policy.

3. Research Methodology

A well-structured questionnaire is used for survey purpose. The aim is to find whether customers

have any prior knowledge of healthcare insuranceor not. If they have prior knowledge then what is

the depth of theirknowledge.Anyone having the knowledge of healthcare insurance means that

she/he knows the concept of healthcare and its importance in today’s life.All the properties of

mediciaim insurance policy namely: premium, type, hospitalization facility, tax benefit, number of

family member covered is considered as dependent variable. While prior knowledge and

experience is considered as independent variable.

For this purpose bank customers are divided into two groups:

(a) Those who have already purchased mediclaim insurance.

(b) Those who have not yet purchased mediclaim insurance.

Here the emphasis is on the following points:

i) Customers having no knowledge of healthcare.

ii) Customers having primary knowledge of healthcare.

iii) Customers having primary knowledge of healthcare as well as health care insurance.

iv) Customers having primary knowledge of healthcare insurance and also willing to purchase

mediciaim insurance.

4. Internal and external validity

The validity of empirical study is always very important phenomena, in terms of collection of data.

Since statistics is defined as collection, organization, presentation, analysis and interpretation of

data [3]. Therefore analysis of data is basically dependent on two things:

6. The method of collection of data.

7. From whom we had collected the data.

Here the term “customer” is well defined. In order to be customer of a bank, one should have a

common account namely savings account in the bank (private or public). All the transaction related

to banks is done through this account. Although he/she may have more than one account in the

bank but savings account is mandatory. Since the personal verification of a customer (name,

gender, age, sex, income, address, phone number etc) is same as almost all the banks (private or

public) therefore customer’s validity is confirmed.

4.1 Internal validity:

According to our survey, through different banks (private or public) offer different mediclaim

insurance policy, basic terms and conditions are like to be same in all most all the banks: Twenty

four hours hospitalization is must for claiming of mediclaim, number of family persons covered,

amount of premium etc are likely to be same. Internal validity can be defined as follows: Whether a

bank is a private or public in order to avail mediclaim insurance, a customer (with different

demographic data) must have a saving’s account in the same branch. Since the ratio of insured

amount coverage to the premium amount is same for all the customers of the same bank,

irrespective of his/her amount deposited therefore internal validity becomes trust worthy.

4.2 External validity:

Here we are emphasized the external validity on the basis of customer’s willingness to continue

the policy with the same terms and conditions in the same branch, number of years the customer

associated with the branch, his/her experience with the policy. Regarding thatobservations of the

authors are as follows: Despite the fact that different customers (policy holder) have different policy

coverage on the basis of premium amount paid/number of family member covered,policy holders of

all typesaregetting same medical treatment in both public and private sectors hospitals of high

repute.Thus the external validity is also trustworthy.

5. DATA ANALYSIS ANDINTERPRETATION

5.1 Design of Empirical study:

It includes primary data from the customers of both public and private sector banks of Ranchi. A

well-structured questionnaire was used for study purpose. The questionnaire was divided into two

sets, one for the customers who have purchased mediclaim insurance policy and the other set for

those who did not purchase. 50 respondents were randomly selected using convenience sampling

technique. Questionnaires were provided and primary data was collected. For the purpose of

confidentiality the names of Banks are not mentioned. On the basis of available information the

tables are prepared and results are calculated.

5.2 Analysis through variation

Analyzing the factors of awareness and customers preference in case of choice of mediclaim is the

main objective of our study. The factors likes: age, gender, education, occupation and premium

amount were under consideration. The primary data includes the information collected from

customers of different banks. It covers a variety of financial, social and demographic information

from 50 respondents at random from in and around Ranchi. Different statistical toolsare used to

fetch our result. The two types of customers are represented by table-1.

Customers having prior knowledgeof mediclaim insurance (X)

Customers having no prior knowledge of mediclaim insurance (Y)

0 - 5 11 105 - 10 8 810 - 15 7 615 - 20 6 720 - 25 6 525 - 30 6 4

30 - 35 3 535 - 40 2 340 - 45 1 245 - 50 0 0TABLE – 1:Customers having prior knowledge VsCustomers having no prior knowledgeHere we consider the coefficient of variation (C.V) of two sets of data on the basis of customers having prior knowledge of mediclaim insurance(X) and customer having no prior knowledge of healthcare insurance (Y) . X and Yrepresenting customers having prior knowledgeof mediclaiminsurance and having no prior knowledge of mediclaim insurance respectively Table-2.

Particulars Mean S.D C.V

First Case 15.9 11.57 72.76%

Second Case 17.3 12.6 72.88%

TABLE -2: Mean, Standard Deviation andcoefficient of variation

Since the standard deviation measure the absolute variation of a distribution [3], the greater the

amount of variation, the greater the standard deviation. As greater will be the magnitude of the

deviation of the values from their mean, a small standard deviation means a high degree of

uniformity of the observation as well as homogeneity of a series, a larger standard deviation means

just the opposite .Thus if we have two or more comparable series with identical or nearly identical

means, it is the distribution with smallest standard deviation, that has the most homogeneity in the

series. Comparing the two set of data namely X and Y we can see in second case the value of

standard deviation is slightly high in comparison to the first one. This is due to the fact that,no prior

knowledge of healthcare insurance reflects the non uniformity as well as in homogeneity in the

case of awareness. The above fact is strongly supported by the value of the coefficient of variation

(72.88% in comparison to first case).Since greater the value of coefficient of variation, the series is

less consistent, less uniform, less stable and less homogeneous [3].

This result supports the fact that having prior knowledge of healthcare insurance helps in more

consistent way in order to selection of mediclaiminsurance [5].

5.3Analysis through correlation

About 20 bank customers are selected, 10 of them being those who have purchased mediclaim

insurance policies. It is not in our knowledge that who are these 10 who have purchased. But bank

has made them all aware of the facilities of mediclaim insurance policies. We have requested them

to rank the parameters of the policy in a 10 point scale where 01 is the most appreciated and 10

being the least. The result is shown in the table-3. Using the Karl Pearson’s Rank correlation

coefficient method we found: R = 0.915, which shows high degree of positive correlation. The

reason is why? Since all 20 of them are aware of mediclaim insurance policy their thinking is alike,

but purchasing of mediclaim insurance policy is their personal decision [4].

Customer Rank given by customer who have purchased mediclaim insurance

Rank given by customer who have not purchased mediclaim insurance

C1 2 9C2 10 1C3 4 7C4 3 3C5 1 10C6 5 5C7 8 8C8 6 4C9 9 6C10 7 2

TABLE -3: Rank provided by customers

5.4 Analysis through Paired t -test

Customer Customers having prior knowledgeof mediclaiminsurance

Customers having no prior knowledge of mediclsim insurance

C1 22 14C2 15 10C3 20 20C4 18 18C5 14 16C6 17 15C7 16 16C8 13 14C9 19 19C10 21 21

TABLE -4: t-test result

Two sets of customers 10 in each are considered. The first set of customers are those who have prior knowledge of healthcare. The second set consists of customers who do not acquire any knowledge of healthcare insurance. Here we are considering this test due to its applicability. Here the customers are given options to choose mediclaim insurance on the basis of their priority which is represented by numerical value shown in the table-4. This test is applicable only when two samples are not independent and samples are taken in pair [3]. Further here we have given the same set of questionnaire to both of them about different characteristic of mediclaim insurance and take two test separately from two groups of customers. Our null hypothesis and alternate hypothesis are:H0 : Having prior knowledge of healthcare has impact on selection of mediclaim insurance.H1 : Having prior knowledge of healthcare has no impact on selection of mediclaim insurance.t =1.24 for 9 degree of freedom, the table value of t at 5% level of significance is 2.262. Since the computed value of t is less than the table value, the null hypothesis is accepted. Hence, having prior knowledge of healthcare has impact on selection of mediclaim insurance.

6. CONCLUSION:On the basis of this study it can be observed that customers are of two types, customers having primary knowledge of healthcare and customershaving no primary knowledge of healthcare. When a customer goes for purchasing a mediclaim insurance product then prior knowledge has an impact on purchase pattern. Mediclaim insurance is a critical product. It requires some basic knowledge about health care. This statement is supported by the result which shows there is a high degree of positive correlation between two set of customers who have basic knowledge of

healthcare insurance. Whether a customer will purchase mediclaim insurance, or not may be his/her own choice, but in case of selection of mediclaim insurance policy their thinking are alike. On the other hand customers having no primary knowledge of healthcare are less confidants that reflects in case of coefficient of variation as well as in case of t-test.

REFFERENCES

1. Biswas.PandBishnu.P.S, “Application of Data Mining and CRM in Banking Sector Medical Insurance”. International Journal of Innovative Research in Computer and Communication Engineering.Vol. 3, Issue 1,pp. 38 – 46, 2015.

2.Biswas.P, Bishnu.P.SandJhaMridanish. “Implementation of Friedman’s analysis in banking sector Mdiclaiminsurance”.International Journal of Innovative Research in Computerand Communication Engineering.pp. 2115 – 16,Vol. 5, Issue 5, 2016.3.Gupta S.P, Gupta M.P,” Business statistics” , Sultan Chand and sons , Educational publishers New Delhi.

4.Srivastava. T. N and RegoShailaja , “ Statistics for Management “ Tata McGraw-Hill Education private Limited New Delhi.5. Richard I.LevinDavid S .Rubin. “Statistics for Management “Dorling Kindersley (India) Pvt .Ltd, licensees of Pearson Education in South Asia.

ARTIFICIAL INTELLIGENCE BASED TECHNIQUES FOR CROP MANAGEMENT

Ms. Swadha Kumari, Ms. Jyoti(Department of Computer Science & Engineering, Netaji Subhas Institute of Technology, Bihta,

Patna)

Abstract

The United Nations FAO (Food and Agriculture Organisation) have predicted that the population of the world is going to have a raise of another 2 billion by the year 2050 whereas the additional land area under cultivation would only be limited up to 4% by that time. Surely, the future of the agriculture sector is in jeopardy due to the several problems that have been aroused in this sector. Roughly direct yield losses are caused by pathogens and weeds. These are altogether responsible for losses ranging between 20 and 40% of global agricultural productivity. In these circumstances, in spite of having a very short life, well equipped and trained intelligent systems could come into practice. Artificial Intelligence (AI) puts itself into the shoes of a farmer and collaborating with its intelligence quotients, they sense the crop needs, and acts appropriately in the fields of crop management. Drones equipped with AI are deployed that can precisely remove weeds or even shoot them with targeted pest killers using 90% less chemicals thereby ensuring the health of the crops and increasing the production rates of the farms. AI also introduces the concept of vertical farming, by creating suitable environment in greenhouses in places of higher population density. Machine learning algorithms are applied to sensor data, and with this the systems of farm management are getting evolved into real time artificial intelligence enabled programs which provides better insights for farmer decision, support and action. This even increases yield per hectares which would then be helpful in meeting the needs that would be raised up in a few decades. This paper basically focuses on the techniques with its issues and challenges that how AI would be helpful in meeting the needs of food in future by predicting the diseases in the crops that can occur sometime in near future and thus reduces the loss of yield and ensures quality food.

Keywords: artificial intelligence, machine learning, agriculture, crop management, AI based expert system.

Introduction

The recent advancements in technology are solely responsible for causing convenience to the masses. During the recent years of research, the concept of artificial intelligence has extended our capabilities, perceptions and the intelligence quotient to create an improvised environment t for us. These and then respond are expert systems which work as an artificial mind to sense appropriately to different problems of daily life. Crop management is the management of crop which starts from the selection of the crop breed and then ends with the processing of the crop produced. This whole process in itself requires a lot of research and hard work by the farmers as there are several problems that come up as a hurdle for them. This is the place where Artificial intelligence and its techniques are used to make their task easier.

In spite of the industrialised agriculture being successful in the production of crops, it is believed by the researchers that the future of food production is in menace as the agriculture domain has always been subjected to several problems. These problems cannot just be treated or controlled just by the traditional methods of farming. The agriculture sector needs to be optimized with the use of AI based systems for both diagnosis and control various problems in the fields of agro-industry.

One of the most important problems faced by the farmers is the diseases of crops. Every crop season, the total yield production suffers a loss of about 20-40%, the reason being the pathogens, weeds and other crop diseases. The installation of several Wireless Sensor Networks are being done in the agricultural fields to ensure a healthy crop by the assessment of various parameters

like plant stress levels, the influence of pests and insects in the region and the crop in particular [1]. These can also be used to monitor about the growth of the crop and the yield produced. For the development of a proper system, adequate data storage and a well equipped human and computer interaction is required. A database would then be designed for the accumulated data similar to a web based application. The system’s decisive capabilities would then send signals to the drones connected which would respond as required. This work also applies data mining to discover and extract precise and accurate measurements after the different environmental parameters are monitored [2].

An area of machine learning has been discovered which tends to deal with certain algorithms which have an inherent capacity of deep learning through the examples and the studies of the relevant cases of the diseases that have occurred in crops in different regions under different circumstances and the measures that were taken in those cases [3]. These systems use computer vision with the help of robotic arms and therefore make the predicting process a lot easier. It also studies the new researches that have been done in order to eradicate these diseases. The ensemble learning models then aims to predict preventive measures, after it gets a signal that the crop would be subjected to a certain particular disease in near future. These algorithms as a whole would carry out supervised learning process. This would prevent the crop at an early stage and would ensure their better health [4].

This paper aims to propose methodology using AI techniques that predict diseases that can occur in a crop in the future. It would also predict the intensity up to which the disease is spread in the farms so that it could be taken care of. Thus ensuring less wastage of crops and promoting more yields per hectare.

This paper comprises of various sections where in section 2 discusses about the Related Works. Section 3 focuses about the proposed methodology for the prediction of plant diseases before-hand. Section 4 deals with the issues and challenges and the solutions correspondingly and the Section 5 concludes the paper.

Related Works

There are several approaches which have already been made related to the problem. These approaches are of great importance as it helps the machine learning algorithms in deep learning and also helps in predicting the disease and the weeds keeping into consideration the surrounding environment.

Expert systems predict and provide warning message signals about a particular disease outbreak that would occur in future years. This prediction not only warns but also ensures adequate preventive measures chemically or biologically and this makes the crops less prone to those diseases in future. This helps in the reduction of losses in yield production and also reduces the losses of capital investment by the farmers. It predicts the diseases of the crop keeping into consideration the weather forecasts as it is found that there exists a certain relationship between the weather and climatic conditions and the development of disease factor. The low values and the high values of the annual disease cycle are monitored and all these information assisted with adequate databases and ML algorithms are extrapolated for the prediction of disease outbreaks [5].

The Machine Learning Algorithms are used for the mapping of yield, its estimation and meeting the needs of the crop with a reduction in human labour using precision agriculture. This system was used for a coffee plantation where these ML applications proved to be a low cost and efficient way for counting coffee fruits in the plantation. Further it divided these coffee fruits into different categories according to harvesting parameters. The developed version of this system is capable of giving satellite images and receives the signals of parameters such as soil, water content of the region to ensure an accurate prediction of the yield. This study also supports farmers to create any sort of imbalances that is caused by the ups and downs of the market. Precision agriculture also helps in studying the overall crop conditions and helps in predicting about any sort of stress level or

disease that a particular plant faces. This also prevents the disease from getting spread to vast areas and retain it to an individual or a small group of plant itself so that it can be removed easily and the yield production do not get much affected [6].

This derived information of various parameters related to the diseases of crops is stored in certain databases so that an efficient learning process could be carried out. There are three different sources of information to these databases and each of them is complementary and is useful in the design of a well equipped machine learning applications. Istat (National Institute of Statistics) dataset - This is the annually aggregated data set which contains all the information regarding the region.CNR (National Research Council) dataset - This structured dataset contains the scientific and technical information about all the different agricultural and horticultural species. IOT Sensors dataset – Such datasets are industrial in nature and contain the information of precision and other agricultural data and these are timed by some minutes as these are values received from different stations by sensors. These datasets also store information about the several cases of diseases that have occurred in different regions and the different research that has been made regarding these diseases. By the use of these datasets, a database is built which, with the help of its decisive capabilities would inform the farmers regarding the environmental conditions, and assists in the deep learning processes of the expert AI equipped systems [7].

Smart Spray Machines are developed to spray medicines at the roots of the plants and on the land. In this way, the rest portions of the plant would be prevented from the spray of these chemicals, which would in a way prevent the crop from getting subjected to any kind of side effect, due to these chemicals. These systems would be pre instructed to spray medicines at the noon, since it is the best time as the pathogens and harmful insects move around roots and the ground in order to get access to the sunlight. As these systems prevent any side effect and the process of spraying is done accurately. These machines also prevent the other surrounding plants from getting effected with these diseases thereby putting a stop to the spread of such diseases. It ensures a good crop health and in a way promotes more yields per hectare.

One such approach was made wherein the risks, evolved by the gray spot found on the leaves of corn plant, were evaluated [8]. The researchers further used ML algorithms to predict the disease taking into consideration its sowing conditions, soil content, the corn residue and other such data. This data was collected for several years for a no. of cases. This training data was used for analysing and predicting such situations in other corn plants before-hand.

Techniques are proposed to generate before-hand warnings about the occurrence of some powdery mildew in the mango crops. Here, the different kinds of supervised learning algorithms were used [9]. The algorithms used were Logistic Regression and the Decision Trees. These algorithms generated real time alerts and warned the farmers about the onset of mildew precisely. These techniques actually came out with a high accuracy rate.

Proposed Methodologies

One of the most important roles is played by the disease detection in plants, as it is very natural for a plant to have some or the other disease and this lessens the quality of the crop. The plants suffer from some general diseases such as spots, irregular timed scorches, fungal or bacterial infections. In most farms, the detection of plants disease is naked eye observation carried out by the experts which is a strenuous job to perform. Here the AI guided systems can be put forward to work by the use of image processing techniques.

Image Processing Techniques are basically the segmentation process wherein an image is separated or grouped into different parts, then measuring the area affected from the disease and the difference in the colour of leaf or the spots present can also be determined with the process [11].

The first step of Image Processing starts when a digital camera captures a picture of the sample and the features are extracted and stored in a database. Then, an image database is created

wherein all the images required for training and testing purposes are saved. Its construction depends on the application used for creating the database. This image database is solely responsible for determining the quality of the algorithm. A better image database ensures the efficient nature of the classifier. The input images are sent to the system where the segmentation process starts [12]. In this process, the representation of an image is changed in to an easier version of itself so that its analysis gets simplified. Here, the basic object of interest is distinguished from background. The undesired distorted portions are also removed from the image [13]. Firstly the clipping of the leaf image is done and then this image is smoothened with the help of smoothening filters and the enhancement of the contrast image is increased. The threshold values for the green coloured pixels are already fed into the system and the green coloured pixels are therefore masked in the image. Inside the infected clusters found inside the boundaries of the image, the masked cells are removed [14]. The useful segments of the leaf are obtained and the diseases are classified. Genetic algorithm is then used for the clustering process. Along with these Genetic Algorithms, certain mathematical calculations also guide the clustering process and as a result of this the best chromosomes from the existing chromosome clusters survive for the next processing round. Now, the colour co-occurrence method is used for the extraction of different features and textures [15]. This process again uses several mathematical expressions that have been derived on a certain pattern observed by researchers and scientists. These expressions determine several features such as cluster shade, homogeneity, energy, cluster prominence and contrast [16]. These co-occurrence features with their corresponding values are fed as an input to the feature dataset. This dataset is then responsible for the classification of the diseases. Researchers and experts have a belief that this technique can work precisely and accurately [17].

Weeds, being an unwanted plant, compete with other productive crops for nutrients, soil, water, etc. Therefore, this image processing technique is not only limited for leaves but as well for such unwanted weeds. Edge based classifiers are used for the classification of weeds summing up to become a machine vision [18]. Here, the images that are taken in coloured pixels are required to be converted to being on a gray scale and then are processed as a binary image. Now, the dark background consists of bright pixels which is classified as weeds and now the machine learning algorithms uses threshold value and classify these into narrow, little and broad weeds using statistical methods [19].

Image Processing Techniques can even be applied for the grading of fruit crops. Fruits can be characterized by their colour, shape and size, their harvesting seasons [20]. An automated system that sorts all kinds of agricultural products using computer vision fulfils the demand of rapid and hygienic inspection. Image processing technique in itself sums up various techniques like pattern recognition, gray scale, segmentation and excess green, etc. Reviewing all this gave the idea that image processing when applied to the farms would bring fruitful results and prove to be an effective process where in the farmer could actually sit at a place and keep an eye on his hectares of farms just by some clicks.

After the virtual eye has predicted the disease of the crop, the next process is of getting rid of the disease. This process also proves to be strenuous as it becomes impossible for a person to spray pesticides precisely to each and every crop of the affected region and this is a place where AI equipped virtual robots come forward to contribute in spraying pesticides. This not only reduces the manual labour staff but also prevents the people from getting affected by the harmful pesticides [21].

These virtual spraying robots receive the transmitted signals via a Wi-Fi connection and capture a video with a camera installed in it and again send these video signals through wireless connection to the users’ mobile phones. These robots are locomoted by its driver module which studies the traffic channel on all the sides of the robot. The spraying head is managed by the height of the crop. The carrier trolley of the robot carries with it the liquid jet which contains the appropriate chemicals. This robot receives a signal from the user and with the help of analysing by the video cameras, it sprays the pesticides precisely at only the affected places preventing the rest portions from getting affected by these chemicals and reducing any side effect [22].

The control section of this system contains several modules like trolley, driver, spray, video capture, infrared obstacle avoidance and Wi-Fi modules. All these modules work together by the signals given by the user. It includes techniques like remote-sensing, machine vision and spectral reflectance [23].

If both techniques of image processing and robots for spraying pesticides are merged in one expert system controllers, this would reduce the humongous work load of the farmers and would ensure a quality crop and a better yield production by reducing the wastage of crops.

Issues and challenges

For the deployment of such expert systems in agricultural farms, a vast communication network setup is required which would be capable of integrating all the IOT equipped sensors that are employed in the large area of farms. For this, a third party network provisioning is required which would support the wireless transmissions made to the sensors from the users’ smart phones and vice- versa. A private network can also be built which consists of several access points linking it to a private network on the server and simultaneously channelizing the data traffic. It is very critical for the communication network to be reliable, so that it is capable to withstand any sort of network failures due to the diverse topological conditions.

Such networks when installed in vast stretches of farm require huge capital investment. Moreover, it is recommended to use high quality sensors as they have a comparative better life and are more durable [24]. Such high quality sensors are expensive and it is quite probable that it might not fit into the budgets of a common farmer who is already spending much for the high quality seeds and fertilizers. Therefore, it is the need that the companies and organizations look forward to make these solutions cost-effective as well as scalable keeping into mind the developing and the under- developed nations which have a low economy rate.

Image Processing Techniques are an area still under research. For the image classification of weeds, the statistical method, which involves mean and standard deviation, are used. Such methods classify weeds to broad, little and narrow weeds and show them as a signal as the input given is threshold values of such weeds itself. These statistical methods fail when it comes to examining mixed weeds. Therefore, the colour methods with appropriate classifiers need to be used in such cases as they have a higher classification success rate as compared to that of the statistical methods [25].

The smart and virtual robots employed for spraying pesticides faces a problem of low power and therefore are in capable of spraying pesticides over a vast area of land at a time. Hence, it is required for the robot to be ensured with a proper power supply system which guarantees relatively long working hours. The motor driven mechanical structure can also be improved by the reduction of friction losses and the usage of more efficient pumps which could enable the robot to work longer at a stretch [22].

Moreover, there is a very low awareness about such technological advancements in different terrains of the world. People still follow the traditional methods of farming as they lack the technological knowledge and as a result they face the threats of crop wastage. The multinational companies and organizations should come henceforth and organize awareness campaigns and educate people on the concept of smart farms.

Conclusion

This paper presents certain methodologies like image processing techniques and the virtual robots spraying pesticides. These methodologies, if put to practice, would give fruitful results as these would not only work on predicting and eradicating the diseases but would also reduce the vast quantity of crops that are being wasted and thus would promote more yields per hectare. These techniques use machine learning algorithms to obtain high accuracy results and a great precision.

The use of Image Processing Technique is cable of predicting a disease at its initial stage. The recognition and classification rate can further get more improved if Fuzzy Logic, Hybrid Algorithms and Artificial Neural Networks are put to use. All this can enable a system to obtain more optimum results by a comparative less computational effort. It has a high accuracy rate of classification up to 96% for a detailed analysis of agronomical parameters.

The high end technology used for the agricultural sprayers helps in improving accuracy and efficiency. These virtual robots with their high intelligence quotients make each droplet of these pesticides count. These are so precise in their work that they pose almost negligible side effect to the quality of the crop.

Such technologies incorporated on an expert system would be of a greater use in the farms and would promote smart farming. These are the effective, precise and non invasive tools that could be easily applied in agricultural domain.

References

1. Capello, F.Toja, M.Trapani, N. “A real-time monitoring service based on industrial internet of things to manage agrifood logistics” 6th International Conference on Information Systems, Logistics and Supply Chain, pp.1-8, 2016.

2. Kamilaris, A.Kartakoullis, A.Prenafeta-Bold, F.X. “A review on the practice of big data analysis in agriculture. Comput. Electron. Agric” 143, 23-37, 2017.

3. LeCun, Y.Bengio, Y.Hinton, “Deep learning Nature”, 521, 436-444, 2015. 4. Konstantinos G. Liakos, Patrizia Busato, Dimitros Moshou, Simon Pearson, Dionysis

Bochtis “Machine Learning in Agriculture: A review Sensors”, 2.4.8, 5-7, 2018. 5. T.Rajasekaran, P. Jayasheelan, K.R. Sri Preethaa “Predictive Analysis in Agriculture to

improve the Crop Productivity using ZeroR algorithm”, Vol.4, 1397-1401, 2016. 6. V. John Stafford, Silsoe Solutions, Ampthill, “Implementing Precision Agriculture in the 21st

century. UK” DOI: 10.1006/jaer.200 7. Fabrizio Balducci, Donato Impedovo, Giuseppe Pirlo, “Machine Learning Applications on

Agricultural Datasets for Smart Farm Enhancement”, 6,38,2018 8. P.A.Paul and G.M.Munkvold, “A Model based approach to preplanting risk assessment for

gray leaf spot of maize, Am Phytopatholog Soc: Ecol Epidemiol”, P- 2004-1011-04R. 9. R. Jain, S. Minz, V.Ramasubramanian, Machine Learning for forewarning crop diseases,

Vol.63, pp. 97-107, 2009. 10. L. Japiassu, A. Garcia, A. Miguel, C. Carvalho, R. Ferreira, L. Padilha, “Effect of crop load,

tree density and weather conditions on the development of the coffee leaf rust”, 5, 2007. 11. Ghaiwat Savita N, Arora Parul, “Detection and Classification of plant leaf diseases using

image processing techniques: A review”, Int J Recent Adv Eng Technol 2014;2(3):2347-812.ISSN.

12. Rafael C.Gonzalez, Richard E.Woods, Steven L.Eddins, “Digital Image Processing, Pearson Education”, 2nd edition.

13. Patil Sanjay B et al. “Leaf disease severity measurement using image processing”, Int J Eng Technol 2011; 3(5):297-301.

14. Sanjay B. Dhaygude, Nitin P. Kumbhar, “Agricultural plant leaf disease detection using image processing”, Int J Adv Res Electr Electron Instrum Eng, 2(1), 2013.

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pp 143-145, 2007. 20. Narendra V G, Hareesh K S. “Prospects of computer vision automated grading and sorting

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PARAMETRIC COMPLEXITY: A NEW ASPECT OF VIEWING SORTING ALGORITHMS

Priyadarshini(Research Scholar, Department of Statistics, Patna University)

Abstract

This paper presents a review of the various works done in the field of parametric complexity analysis of sorting algorithms. Sorting can be viewed as one of the fundamental aspect in computer applications. The efficiency of a sorting algorithm is a major issue when the amount of data to be sorted is large. Different sorting algorithms are analyzed on the basis of time complexity and space complexity to select the efficient one on the basis of their execution time for varying input size. In case of sorting algorithms, when the array elements to be sorted are randomly generated from some probability distribution; then the true potential of an algorithm can be analyzed only when it is supplemented by the study of parametric complexity analysis which includes the study of the behaviour of running times as a function of parameters of input distribution. This is one of the important criterions for selection of an algorithm among the several algorithms, since besides the size of input, parameters of input distribution has direct effect on execution time of an algorithm.

Keywords: Parametric complexity, analysis, sorting algorithms, computer experiment

I. Introduction

In the recent past much of the work is done on parameterized complexity. For a helpful review, with special emphasis on sorting, Mahmoud (2000) may be consulted. Some of the contributions on parameterized complexity are the recent works of Anchala and Chakraborty (2007), Anchala and Chakraborty (2008), Prashant, Anchala and Chakraborty (2009). For the general problem of parameterized complexity theoretically, Flum and Grohe (2006) can be referred.

The first systematic work on this is credited to Downey and Fellows (1999). According to Downey and Fellows, parameterized complexity systematically seeks to understand the contribution of such parameters to the overall complexity of the problem. The beating heart of Computer Science is algorithms and complexity.

In classical complexity, a decision problem is specified by two items of information: • The input to the problem.• The question to be answered.

In parameterized complexity there are three parts of a parameterized problem specification:• The input to the problem.• The aspects of the input that constitute the parameter.• The question to be answered.

Sorting is one of the fundamental concepts in Computer Science. It is frequently used in data management to arrange the data in specific order. Since the dawn of computing many sorting algorithms have been developed. Depending on number of objects, these may be classified as internal and external sorting techniques. If the number of objects is small enough to fit into the main memory, sorting is called internal sorting. If the number of objects is so large that some of them reside in external storage during the sorting, it is called external sorting.

Over the past few decades the sorting problems have attracted a great level of research, perhaps due to complexity of solving it efficiently. Theoretically these algorithms are judged on the basis of best and worst case analysis.

In Worst case analysis we calculate the upper bound on running time of an algorithm whereas in best case we calculate lower bound on running time of an algorithm.

Over the decades researchers have proposed a wide range of complexity matrices that have immediate benefits in terms of risk management, reliability predictions, cost containment and improving overall software quality. Most of these measures suffer from the weakness that much of what is being measured is source text format, which is not intrinsic attribute of software implementation. Most of the software complexity models have also been developed in the recent past. One of the important works to be cited is Stochastic Modeling of deterministic computer experiments proposed by Prof. J. Sacks and others.

One of the computational problems that an algorithm encounters is when the array elements to be sorted are randomly generated from some probability distribution. In this case multiple parameters of input distribution have direct effect on the execution time of the algorithm. This new concept is known as parameterized complexity of the algorithm.

The true potential of an algorithm can be analysed only when it is supplemented by the study of parameterised complexity analysis which includes the study of the behaviour of running times as a function of parameters of various distribution. The proper selection of input parameters can have rewarding effect on reducing complexity of an algorithm.

It is not possible to discuss all the research papers related to parametric complexity analysis of sorting algorithms in one paper. This paper presents a review of the some of the works done in this field.

II. Literature Review

Though the study of Parameterised complexity opens a new era in computer science, much of the work has been done to find parametric complexity of sorting algorithms using statistical methods. Important among them are the work by Anchala and Soubhik (2007, 2008), Anchala and Soubhik (2012, 2013), Niraj and Soubhik (), Sundararajan, Pal, Chakarborty and Mahanti (2013), Anchala, Niraj and Soubhik (2015). Following is the list of few works done in this area.

2.1. Anchala and Soubhik (2007)

The authors have tried to give an exposure to statistical approach for obtaining the complexity of software. They have applied their approach on insertion sort algorithm. The complexity of insertion sort is obtained where the array of size n for sorting is randomly generated from binomial distribution with parameters m and p, m being the number of trials and p being the probability of success. They have studied the effect of the three factors n, m and p on the average time complexity of insertion sort. For this a 3-cube factorial experiment was conducted. As a result, the three factors were found to have significant effect on the average time complexity [1].

2.2. Anchala and Soubhik (2009)

In continuity with the previous works, the authors have again tried to focus on parameterised complexity. Software complexity is an important aspect of development and maintenance activities and has an extremely high payoff for the investment. A number of complexity measures have been proposed. Starting from the simplest measures such as line of code, a refinement was made to count the line of executable code, data declaration comments etc. All these suffer from the weakness that much of which is measured is source text format. While the source format does give useful information for perfect management, these are not uniformly applicable. An important criterion for metrics selection is uniformity of application. Based on stochastic modeling, much of the work has also been done to assess the complexity of software using statistical techniques. The research works done in the field of software complexity have further been explained here. They have examined the effect of Binomial and quasi binomial parameters on average sorting time of the popular quick sort algorithm by using a 3-cube factorial experiment. A new approach of

response surface design was used to describe the relationship between the parameter of the input distribution and sorting efficiency. A third order response surface design was found to be the appropriate model for assessing the complexity of the quick sort algorithm [2].

2.3. Prashant, Anchala and Soubhik (2009)

Sundarrajan and Chakraborty (2007) developed a New sorting algorithm by applying certain modifications in the quick sort algorithm. Later Sourabh, Sundarrajan and Chakraborty (2007) also studied this New sorting algorithm and found it to be sensitive to input probability distributions. In this paper, the authors have further studied this New sorting algorithm through simulation and appropriate empirical model was determined to explain its average sorting time with special emphasis on parameterised complexity. The New sorting algorithm was analysed for arrays randomly generated from various discrete and continuous distributions. It was found in the empirical results that the average time complexity of New sorting algorithm depends on the parameters of the input distributions discussed except the Normal distribution [3].

2.4. Anchala and Soubhik (2012)

In the New sorting algorithm developed by Sundarrajan and Chakraborty (2007), the first element of the array was taken as the pivot element. In this paper, the authors have tried to modify the New sorting algorithm by taking the middle element of the array as the pivot element. They named this improved version as Middle Pivot Element Algorithm (MPA). The statistical analysis of the MPA was carried out to investigate the singular and non-singular effects of binomial inputs on the complexity through a 3-cube factorial experiment. Also the execution time was shown as a function of the three factors namely, n(the input size), m(the number of trials) and p(the probability of success) through regression plots. As a result, it was found that the New sorting algorithm performs faster with pivot element as the middle element and it should be preferred over the previous version [4].

2.5. Anchala and Soubhik (2013)

This paper presents the statistical analysis of two new versions of the New sorting algorithm that was developed by Sundarrajan and Chakraborty (2007). One of them is Random Pivot element Algorithm (RPA) and another is First Pivot element Algorithm (FPA). Along with Factorial experiment, Principal Component Analysis was also applied to examine the effect of the binomial distribution parameters on the average sorting time complexity. The authors have attempted to focus on the comparative study of the two algorithms also. The performance of RPA was found to be better than the performance FPA in case of array of large size. But usually the sorting time taken by FPA is less than RPA for sorting same number of observations [5].

2.6. Singh, N.K, Chakarborty S. and Mallick, DK (2014)

In this research paper the authors have examined the average case behavior of the sorting algorithm using the unconventional statistical bound and its empirical estimate, also known as ‘empirical-O’, which is considered as a compliment as well as supplement to the findings of much practiced mathematical bound.

The statistical analysis was performed over empirical data for discrete uniform distribution inputs. The result shows a complexity of O(n). In this new approach of complexity analysis, instead of counting the operations, the authors have preferred to work with weights and devised a conceptual bound based on these weights, which relatively is a more scientific approach as it is well known that different operations might take different amount of actual CPU times. The role of weighted count becomes more prominent when the operations in consideration differ drastically with respect to the actual consumed time. The credibility of the statistical bound estimate depends on the design and analysis of the computer experiment in which the response variable is program run time.

This paper was aimed to describe the reader about the existence of weight based statistical bound.

The authors recommended the use of empirical-O for arbitrary algorithms. It is also recommended for algorithms in which identifying the key operation itself is a non trivial task. The field of count based theoretical analysis is quite saturated now, and so the authors have tried to present the community of theoretical computer scientists a systematic and scientific approach [6].

2.7. Anchala, Singh N.K and Chakarborty S. (2015)

This paper presents a statistical comparative study of three sorting algorithms namely, Quick sort, Heap sort and K-sort, all with the same average case complexity of O(Nlog2N). Here K-sort is an improved version of the New sorting algorithm given by Sundarrajan and Chakraborty (2007). K-sort was made by removing the concept of auxiliary array from it by Sundarrajan, Pal, Mahanti and Chakraborty (2013).

The authors have provided a brief discussion on Asymptotic Analysis and Empirical-O Analysis with a description on Statistical bound (non probabilistic) also. In addition to this there is a relative performance analysis of different sorting algorithms when subjected to randomly generated arrays from Binomial distribution, discrete and continuous Uniform distribution and Poisson distribution. The statistical analysis is well supplemented by the parameterised complexity analysis. The results obtained in this analysis are quite useful for further research work in this area. This paper is really an addition to the contributions to the research works done in this area [7].

2.8. Priyadarshini, Soubhik, Anchala (2018)

Sorting algorithms are found to be sensitive the parameters of the input distribution. Keeping this in mind a further study on parameterised complexity analysis of the three sorting algorithms namely Quick sort, Heap sort and K-sort was studied again with quasi binomial input. Quasi binomial distribution has the probability of success varying from trial to trial whereas in Binomial distribution it is fixed. In this paper the empirical analysis of the results obtained by applying the specified algorithms over the input data generated from Quasi binomial and binomial input has been performed [10].

2.9. Priyadarshini, Anchala (2018)

In continuation with the previous paper [9], in this paper the parameterised complexity of three asymptotically optimal sorting algorithms, namely Quick sort, k-sort and heap sort have been examined, while subjecting these algorithms to randomly generated array from Binomial distribution where the probability of success (p) follows beta distribution with shape parameters (a=2,b=2). The complexities of these algorithms have been further compared with parameterised complexity for binomial inputs with p following uniform distribution. Though theoretically, average case complexity of all the algorithms confirm to O(Nlog2N), but as far as empirical O analysis is concerned, the empirical estimate of average complexity for each of the quick sort and k-sort algorithms exhibits Oemp(N2) complexity which is actually the worst case complexity of both the algorithms [11].

III. Conclusion

A review of few important research works done on parametric complexity of sorting algorithms is given here with an objective of presenting before the computer science community an area that needs a lot of research and development. Parametric complexity is a different aspect of evaluating the algorithmic complexity. Sorting which is a very important concept of Computer science and which can be found useful in our day to day life. In addition to this, this paper also shows the importance of Statistical analysis techniques, which can’t be ignored to get an appropriate result in all the research fields.

References

1. Anchala and Soubhik (2007), Software Complexity: A Statistical Case Study through

Insertion Sort, Applied Mathematics and Computation, Vol. 190, no.12. Anchala and Soubhik (2009), A Simulation study on Quick sort parameterized complexity

using Response Surface Design, International Journal of Mathematical Modeling, Simulation and Application, vol.1, no.4

3. Prashant, Anchala and Soubhik (2009) Parameterised Complexity on a New Sorting Algorithm, A Study in Simulation, Annals. Computer Science Series, Vol.VII

4. Anchala and Soubhik (2012) The Middle Pivot Element Algorithm, International Scholarly Research Network ISRN Computational Mathematics Vol.5

5. Anchala and Soubhik (2013) Parameterized Complexity, A Statistical Approach Combining Factorial Experiments with Principal Component Analysis, International Journal of Computer Science Engineering.

6. Singh, N.K, Chakarborty, S, and Malick, DK (2014), A Statistical Peek into Average Case Complexity, IJEDPO. Vol. 4, No.2, International Journal On Recent Trends in Engineering and Technology 8(1),64-67.

7. Anchala, Singh N.K and Soubhik. C(2015), A Statistical Computer Study of Some Sorting Algorithms , International Journal in Foundation of Computer Science & Technology, Vol.5 No. 4, July,2015

8. Sacks, J., Welch, W. J., Mitchell, T. J., and Wynn, H. P. (1989), Design and Analysis of Computer Experiments, Statistical Science 4.

9. Mahmoud, H. “Sorting, A distribution Theory”, John Wiley and Sons, 2000.10. Priyadarshini, Soubhik Chakarborty, Anchala Kumari, January 18 Volume 4 Issue 1,

“Parameterised Complexity of quick sort, heap sort and k-sort Algorithms with Quasi Binomial Input”, International Journal on Future Revolution in Computer Science & Communication Engineering (IJFRSCE), pp:117-123

11. Priyadarshini, Kumari, Anchala "Parameterized Complexity Analysis of Heap sort, K-sort and Quick sort for Binomial Input with Varying Probability of Success", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and ISSN Approved), ISSN:2349-5162, Vol.5, Issue 7, page no. pp491-495, July-2018, Available at :http://www.jetir.org/papers/JETIR1807424.pdf

ARTIFICIAL INTELLIGENCE (AI) WITH HUMAN FACE

Rajeshwar Dayal

Abstract

KEYWORDS: Agility,Attrition,Chatbot, Cusp, Epilepsy, EI[Ernst & Young], Leapfrog, Neocortex,

Superintelligence, Stride, Scour, Subservient.

INTRODUCTIONThe Artificial Intelligence (AI) connotes to the ability of machines to perform cognitive tasks like

thinking, perceiving, learning, problem solving and decision making. In the broader sense, it was

thought of as a technology that could mimic human intelligence, but over the period, it has

progressed a lot and acquired very high significance in the present high-tech regime. It may be

also said that “AI is a constellation of technologies that empower machines to act with higher levels

of intelligence and emulate the human capabilities of sense, comprehend and act” (Figure-I) .

Figure - I

It may be viewed from figure-I that there are three defining features of AI as follow:g. Sense: AI acquires, identify, recognize and analyze structured and unstructured data, such as images, audio and text.

h. Comprehend: AI uses those data to derive meaning, insights or knowledge.

i. Act: AI uses that comprehension to complete a defined process, activity or function.

Learn: AI uses those real-world experiences to adapt and improve over time. Due to this learning

nature that defines AI, enable it to do differently.

AI teaches itself by repetition, logical progression and sequencing, that enables it to construe higher

level patterns at lightning speed for problem solving and decision making. It has phenomenal power

to substitute repetitive tasks that require sequential logic.

As a result, computer vision and audio processing actively perceive the world around them by

acquiring and processing images, sound and speech, with implausible advances made in data

collection, processing and computation power.

Artificial Intelligence (AI) is emerging as a new factor of production, augmenting the traditional

factors of production viz. labour, capital and innovation and technological changes captured in Total

Factor Productivity (TFP) [Figure – 2]. AI has the potential to get control of physical limitations of

labour and capital, and open up new avenues of value and growth. From an economic impact

perspective, AI has the potential to drive growth through enabling:

(a) Intelligent automation relates with ability to

automate complex physical tasks that

require adaptability and agility across

industries,

(b) Labour and capital augmentation means

enabling humans to focus on parts of their

role that add the most value,

complementing human capabilities and

improving capital efficiency, and

(c) Innovation diffusion relates with propelling

innovations as it diffuses through the

economy. AI innovations in one sector will

have positive consequences in another

sector, which are interdependent based on

value chain.

It is anticipated that enhanced economic value

will be created from the new goods, services and

innovations due to AI.

Figure - 2

According to rationale and the implications AI is categorised in different ways and it may be useful

to understand the various categories.

15. Weak AI vs. Strong AI: Weak AI describes "simulated" thinking. A system which appears

to behave intelligently, but doesn't have any kind of consciousness about what it's doing. For

example, a chatbot might appear to hold a natural conversation, but it has no sense of who it is

or why it's talking. Strong AI describes "actual" thinking. A system behaving intelligently,

thinking as human, with a conscious, subjective mind. For example, when two humans

converse, they know exactly who they are, what and why they're doing.

16. Narrow AI vs. General AI: Narrow AI describes an AI that is confined to a single task or a set

number of tasks. For example, the capabilities of IBM's Deep Blue, the chess playing computer

that beat world champion Gary Kasparov in 1997, were limited to playing chess. It wouldn't

have been able to know beyond. General AI describes an AI which can be used to perform a

wide range of tasks in wide range of environments. As such, it's much closer to human

intelligence.

17. Superintelligence: The term "superintelligence" is often used to refer to general and strong AI

at the point at which it surpasses human intelligence, if it ever does. Super-computer such as

Waston can process data, recognise patterns and thereby learn by itself at a faster rate than a

human brain.

While big strides have been made in Artificial Narrow Intelligence – algorithms that can process

documents, drive vehicles or beat champion chess players, yet nobody has claimed that they have

made the first production or development of General AI. The expert opinion is that we are a long

way off the emergence of General AI.

Artificial Intelligence is expected to provide large incremental value to a wide range of sectors

globally, and is expected to be the key source of competitive advantage for firms.

4. Healthcare: AI application can address in healthcare issues of high barriers to access to

facilities, particularly in rural areas that suffer from inaccessible connectivity and limited

supply of healthcare professionals. Which can be overcame through implementation of AI

driven diagnostics, personalised treatment, early identification of potential pandemics, and

imaging diagnostics are among others. The interpretation of medical data, for some kinds of

cancers and other disorders are being done using AI. Spotting the dangerous patterns in a scan

is well done by computers in comparison to human. Researchers at New York Icahn School of

Medicine have used AI to scour electronic health records from a pile of 7,00,000 patients to

predict disease risk factors for 78 diseases so successfully that doctors now turn to the system

to take help in diagnosis of illnesses.

5. Agriculture: AI may drive a food revolution to meet the increased demand for food

(global requirement is to produce 50% more food and cater to an additional 2 billion people by

2050 in relation to today). It is also capable to disseminate information regarding inadequate

demand prediction, lack of assured irrigation, and overuse / misuse of fertilisers and pesticides.

AI has also helped remarkably to increase the crop yield through real time advisory, advanced

detection of pest attacks, and prediction of crop prices to inform sowing practices. In Raleigh,

North Carolina, USA, AI-backed soil health monitoring, led to considerable gains by cutting

the superfluous use of chemical fertilisers by nearly 40%.

6. Smart Mobility, including Transports and Logistics: AI is being potentially used in

autonomous fleets for ride sharing, semi-autonomous features such as driver assist, and

predictive engine monitoring and maintenance. Other areas in which AI may be effectivesuch

as autonomous tracking and delivery, and improved traffic management. Route planning and

pricing done by maps and ride sharing apps use AI.

7. Retail: This is the sector which has been one of the early adopters of AI solutions, with

applications such as improving user experience by providing personalised suggestions,

preference-based and image-based product search. Customer demand anticipation, improved

inventory management, effective and efficient delivery management has also incorporated.

Online retailers use AI to understand customer’s preferences and buying habits so they

personalize the shopping experience.

8. Manufacturing: Manufacturing industry may be one of the biggest beneficiaries of AI

based solutions,'AI is Future of the Factory' through flexible and adaptable technical systems to

self-operating processes and machinery to respond or unfamiliar in unexpected situations in

making prudent decisions. Other areas include engineering (AI for R&D efforts), supply chain

management (In demand forecasting), production (AI can achieve efficiency enhancement and

cost reduction), maintenance (predictive and supportive maintenance), quality assurance (to

identify defects and deviations in product features), and in-side logistics.

9. Energy: AI may be used in Energy system modelling and forecasting to decrease

unpredictability and increase efficiency in power balancing and usage. In renewable energy

systems, Storage of energy through intelligent grids enabled by smart meters, and also

improves the reliability and affordability of photovoltaic energy by using AI. AI may also be

used for predictive maintenance of grid infrastructure.

10. Smart Cities: AI may be used in meeting the demands of a rapidly urbanising

population and providing them with enhanced quality of life in newly developed smart cities.

Its potential use included enhancing security through improved crowed management and traffic

control to reduce congestion.

11. Education and Skilling: In education sector especially in India, AI can potentially solve

quality and access issues. AI can be potentially used in augmenting and enhancing the learning

experience through personalised learning, automating and expediting administrative tasks, and

predicting the need for student intervention to reduce dropouts or in recommendation of

vocational training.

Physicist, Stephen Hawkins, had opined “A supper intelligent AI will be extremely good at

attainment of its goals, and if those goals aren’t aligned with humans, humans were in trouble.”

Elon Musk also agreed in a YouTube video on the subject he sounds an alarm bell: “I f AI becomes

smarter than a person, what do we do and what jobs will we have? Will AI take over our world?

How worried should the human race be? About five million jobs will be transferred to robots and

automation by 2020 – World Economic Forum report published in 2016.

STATUS From this (2019) year I.I.T. Hyderabad has started a four-year undergraduate program in A.I. Others

have already been introduced a minor course or PG degree. B.Tech.(AI) will lay a strong foundation

for students who want to stay relevant in the evolving job market, according to Vineeth N.

Balasubramaniam, Associate Prof., Deptt. of Computer Science & Engg., IIT – Hyderabad.

After US and China, India ranks third with the highest addition of AI skills among its workforce.

According to Linkedin Reports, the number of its members adding AI skills to their profile

increased 190% between 2015 and 2017. It is fastest growing skill set, as yet.

APPLICATIONSThere is also a moral dimension of machines to make decisions, in addition to productivity and

efficiency advantage brought by AI. Algorithms used by AI, build personality profiles on every

human being and due to these algorithms machines can learn our behaviour, before we know it,

consequentially they know us better than we know ourselves.

Nobel Laureate Joseph Stigltiz says: “Artificial Intelligence (AI) and robotization have the

capability to increase the productivity that could make humans better off, but only if they are

utilized properly”. Stiglitz makes a classification between AI that replaces workers and that helps

people to do their job better.

AI does not act individually. It enhances the capability of existing articles, or acts. A compensating

feature of the digital age is the shortening of time lags between first appearance of new technology

in developed countries and its adoption across the world. Sometimes developing countries leapfrog

a generation – as in case of telecom in India – when we leapedfrom mass penetration of landlines to

ubiquitous mobile phone penetration; or in recent day, mobile based payments have acquired much

acceptance than credit card payments.Much like this Artificial Intelligence is silently but

increasingly automating work tasks. Some of these are already in use. E-mail comes with filtered

and smart replies; Music streaming sites provide AI-curetted personalised playlists, and the 24 hour

customer helpdesk we use online probably doesn’t have a human at the answering end.

As voice and facial recognition continue to evolve, AI and machine learning algorithms are

becoming more capable than ever. Deep neural networks now facilitatethe AI’s ability to learn and

shifted from doing task to solving problems independent of subsequent instructions. AI companies’

venture capital funding globally soared last year 72%, hitting a record $ 9.3 billion in 2018.

Decision makers in India indicated some of the jobs that might be outsourced to AI powered digital

assistants: drafting and responding to e-mails, entering timesheets, scheduling calendars and some

routine accounting, billing and HR tasks.

Leave application writing, reimbursements and annual appraisals jobs are more tedious at work.

Therefore, some companies have started experimenting with technology – more specifically,

Artificial Intelligence (AI) – is changing and facilitating companies’ procedure to screen, hire and

manage employees.

Knolskape, an HR tech start-up, co-founder Rajiv Jayaraman says “Sorting of prospective

candidates based on social activity to automation of recruitment on the basis of requisite

requirement and career mapping, AI has the capability to transform human resource functions”.

Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni, founders of Hyderabad based Darwinbox

(2015), take help of AI to match and rank CVs based on the role and to predict attrition rates too.

The say “The AI engine analyses candidate profile with job description, and with the help of

keywords arrive at a ranking metric,” . So, if there are 400 applicants for a job, the system will

shortlist 10-15 for interview. They also say “Cost saving, increased productivity, better talent

acquisition and higher talent retention has resulted in 40% return on investment”.

They further say “To emulate human behaviour algorithms are prepared, which are focused on

assigned weightage to various criteria like education in IIM/IIT or MNC work experience, and to

pick only resumes where the match is 90% or more.Some companies get around 5,000 resumes

fortnightly for meagre openings of one or two. Due to human limitations, most of these aren’t

looked by the recruiters. Every resumeare scanned and looked vigorously using AI, increase

efficiency with reducing the scope for error”.

As per them, attrition too predicted using AI. “The page containing exit procedures are hit by those

who plan to quit. Generally, they do these, fortnight before they formally put in papers. Just

tracking the number of page hits and by who help to correlate it with attrition”.

Sort listing the qualified candidates from stack of CVs is one of the hardest tasks as the number of

resumes received usually far ahead of the available positions. Regardless of company size or role,

hiring managers are the most strenuous and time consuming part of tech hiring, and getting the right

solution is every other business requirement – HackerRank’s 2018 Tech Recruiting Report.

Background verification of employees is a difficult issue when it is for blue collar workers.

Bengluru based BetterPlace, does background verification, financial management, on-boarding and

skilling of blue collared workers using AI enabled applications.

As per AnupamBonanthaya, BetterPlace CMO,“The vernacular language chatbots are used to help

skilling of blue collar workers and use AI to optimise other aspects. These blue collar workers are

very informal do not use technology, and lacks career progression and financial services. Gap is

bridged and assisted in re-skilling by using data”.

Bengaluru based Knolskape uses AI based Applications to understand learner profiles and their

leadership skills. Situations fabricated with video based platform for employees to tackle based on

various parameters, including choice of words and tone of voice insights are picked up by an AI

layer. AI games incorporating all requisite parameters are developed to judge a person. Duringplay,

the game responses are recorded to judge aspects like leadership style, which are alsoused to train

them for different roles.

AI technology development and applications are growing rapidly with major implications for

economies and societies. A study by EY[Ernst & Young] and NASCCOM found that by 2022,

around 46% of the workforce will be engaged in entirely new jobs that do not exist today, or will be

deployed in radically changed skill-set jobs.

MILESTONESAs per earlier research, when people speak or even think to speak, distinct patterns of activity take

place in brain and those patterns of signals also emerge when we listen to someone speak or

imagine listening.

Neuralink a company founded by Elon Musk, which is exploring avenues for discovering and

developing devices that can be connected to the brain.

Researchers in Columbia University, U.S., have devised an Artificial Intelligence (AI) enabled

system that can translate brain signals into intelligible speech, a breakthrough that may help those

who cannot speak to communicate with the outside world (Testing stage).

The study shows that by monitoring one’s brain activity, an AI enabled technology can reconstruct

words a person hears with unprecedented clarity.

A team of neuroscientists trained a voice synthesiser or vocoder to measure the brain activity

patterns of epilepsy patients already undergoing surgery while those patients listened to sentences

spoken by different people.Those patients listened to speakers reading digits between zero (0) to

nine (9) while recording brain signals via the vocoder.

Neural network, a type of artificial intelligence (AI) is used to analyse the signals, and gave robotic

sounding voice, -- the study published in the journal Scientific Reports.

Nima Mesgarani of university says “We found that people could understand and repeat the sounds

about 75 percent of the time, which is well above and beyond any previous attempts”.

Google’s AI guru and futurist Ray Kurzwell, is in opinion that the world is experiencing one of the

most peaceful times in history since World War – II. In comparison to past, apparent recession is in

hunger rates, technology has rescued millions out of poverty and facilitated to possess and operate

devices like smart phones to more than 3 billion people. He has opined that human race is at an

evolutionary inflection point and in near future man and machine will become one. Humanity is in

existential fear of whether AI will take over our world, therefore, need not to exist separately, and

he believes and remarks “Robots will be inside our brain and connect to our neocortex by the year

2029. It will just be a chip in our brain like a smart-phone in our hands”. With the supercomputing

power of AI and chips embedded in our brains, he predicts we are only about cuspof needle away

from acquiring superhuman qualities by integrating the best of what human and machine together

can accomplish.

ETHICSAI-based solutions are permeating in routine jobs as well as in doing business, therefore, questions

on ethics, privacy and security emerges. Ethical considerations of AI are a derivation of the

FATframework (Fairness, Accountability and Transparency).

AI solutions are primarily depends upon Data, therefore, appropriate handling of data, ensuring

privacy and security is of prime consideration.Various challenges, such as, data usage without

consent, risk of identification of individuals through data, data selection bias and the resulting

discrimination of AI models, and asymmetry in data aggregation are to be averted. It is required to

establish data protection frameworks and sector wise regulatory frameworks, and promotion of

adoption of international standards.

CAUTIONAs AI increasingly embedding in our society, it will change our working and living way. It is an

understandable fear that AI will cause disruption and take away jobs. Policy makers are required to

address this, given already existing concerns about rising unemployment. IDC predicts that by

2024, half of structured and repeatable segment of jobs will be automated in workplaces, and 20%

of knowledge workers will have AI-infused software or a digitally connected technology as co-

worker. According to McKinsey report, job profiles characterised by repetitive activities could

experience the largest decline as a share of total employment from 40% to around 30% by 2030.

Last year saw the conceptual boundaries of AI pushed further. Google’s DeepMind built a machine

that can teach itself the rules of games and after two or three days of concentrated learning, beat

every human and every other computer player there has ever been. So a machine capable of

learning so fast, it can conquer all. Alon Musk warned of the need of some regulatory oversight on

AI at a national or international level just to make sure humans don’t do something very foolishly.

“With AI we are summoning the devil” – he said.

CONCLUSIONThere is no doubt AI will transform society, and there is a big need to safeguard against improper

use. Creating ethical AI will take more than just intent. It will require for greater collaboration

between industry, government and technology experts. By working with experts, regulators can put

in place, the standards that protect us while ensuring AI can augment humans safely, so that we can

continue to reap the potential benefit of these smart machines and not be subservient to them.

Though, AI can process billions of data points to conclude as an efficient decision in a blink of eye,

the contextual, emotional and intuitive aspects of the decision making still remains the prerogative

of the humans. In fields that need creativity and out of the box thinking, human judgement will be

hard to replace.

The perspective offered so far pitches man and machine in two different camps, with the debate

focusing on who will reign supreme. But recent developments in the field suggest it doesn’t have to

be that way. There can be a third side. The merging of man-machine is to create a powerful

combined force.

REFERENCES

• National Strategy for Artificial Intelligence (AI) – Discussion paper, June 2018.

• Assessing the Economic Impact of Artificial Intelligence(AI), ITU TrendsEmerging Trends in ICT,Issue Paper No. 1, September 2018.

• Show me the Value, The case for AI, Accenture publications.

• 2018 Tech Recruiting Report, http://research.hackerrank.com

A CONCEPTUAL UNDERSTANDING OF BRAND EQUITY ATTRIBUTES IN THE CONTEXT OF MANAGEMENT INSTITUTES

Rajeev(Associate professor, KK University, Biharsharif, Nalanda)

ABSTRACT

The management of educational institutions has become a more challenging task in current

changing environment. The changing environment of corporate sectors has also influenced

education sectors. Most of the institutes are not fulfilling the demand of corporate expectations.

Therefore, MBA education is seeing a paradigm shift in all areas of teaching, learning and

employability. Consistent improvement of quality is essential for building a long term image for

management institutes.Quality in faculty, infrastructure, placement, industry exposure and

developing employability skill are the important aspects to maintain quality in the institutes.

Students, recruiters, society, nation and parents are the stakeholders of business schools. It is

difficult for business schools to fulfill the diverse need of these stakeholders. Therefore managing

brand equity is essential and there is a need to build brand image among these stakeholders. High

brand equity attracts quality faculty, students and staff. The brand equity attributes include

perceived quality, brand awareness, brand association and brand loyalty. The consistent approach

to maintain these attributes always enhance the brand equity of the institutes.This paper is based

on the study of brand equity attributes of management institutes and the data is collected from the

secondary sources for the analysis of the study.

Keywords: Challenging, paradigm shift, quality, stakeholders and brand equity

1.Introduction

Concept of Brand equity

Brands are valued for their equity. Brands add value. Everyone in the marketing profession agrees

that brands can add substantial value. It is also true, sometimes, that brands become a burden. The

brand can be both a value enhance and a decrease. A variety of opinions exist about brand equity.

Some of these as follow: “Brand Equity is a set of brand asset and liability linked to a brand, its

name and symbol adds to or subtract from the value provided by a product or service to a firm

and /or to the firm’s customers (Aaker 1991).

“Brand Equity is defined in terms of marketing effects uniquely attributable to the brands for

example when certain outcomes result from the marketing of a product or service because of its

brand name that would not occur if the same product or service did not have the name” (Keller

1993). According to Aaker, Brand equity creates value for the marketer and the customer.Brand

equity assets can enhance or decrease value for customers. A Brand’s equity is valuable to

customers because It helps customers in formatting processing.

In the era of globalization to meet the challenges of changing environment and corporate sectors,

there has become a demand of professional managers.Therefore government has given approval to

open private management colleges so that managers can be developed. This has given an

opportunity to open so many AICTE approved management institute but at the outset most of the

institutes are lacking quality education. It indicates that management education in India is degrading

day by day because of poor quality of output. If a B-school wants to build a long-term future,

consistent improvement of quality is essential. Quality has to be operationalized in various

parameters like quality in inputs, processes, outputs and outcomes. These quality inputs add value

to the institutes and after some time it takes the form of equity for the institutes. The paper is

studying the conceptual understanding of brand equity attributes on the basis of quality inputs of the

management institutes.

2.Objective of study

To study the conceptual understanding of Brand equity attributes of management institutes

3. Research methodology

This research paper is based on secondary data. The data has been collected from books, journals,

magazines and online journals.

4.Limitations of study

1. Research is based on secondary data.

2.The study covered only Two-Year full time MBA/PGDBM programmes. The study did not

include online programmes, one year PG diplomas, MBA through distance education, executive

MBA programmes etc.

3. The study did not include institutions not approved by AICTE.

4.The information provided by respondents is assumed to be accurate.

5.Literature review

The Indian B-School scenario has witnessed numerous changes in the recent past. Mushrooming of

B-Schools, global competition and changing expectations of the corporate world. Shortage of well-

qualified faculty, strong influence of changing technologies and heightened student expectations are

some of the issues faced by Indian B-Schools. Global management education has seen multiple

challenges in the recent past. Total quality management is a general management philosophy that

holds that quality is continuous improvement (Seymour, 1992) and measures quality through

customers' satisfaction with the services they have experienced.

Quality in Education has been defined variedly as, excellence in education (Peters & Waterman,

1982), value addition in education (Feigenbaum, 1951), fitness for purpose (Reynolds, 1986;

Brennan et al., 1992).Gilmore (1974) defined quality in education as conformance of education

output to planned goals, specifications and requirements (Gilmore, 197428; Crosby, 197929), defect

avoidance in education process (Crosby, 197930), and meeting or exceeding customer’s

expectations of education (Parasuraman et al., 198531).According to Spanbauer, education is a

service with customers like any other business, and those customers express satisfaction and

dissatisfaction about school services and instruction.

6.Conceptual understanding and analysis

Study of quality of management education can be easily understood on the basis of attributes of

brand equity. The more effective and efficient will be the attributes of brand equity the more

effective and efficient will be the quality of management education. The various attributes of brand

equity is as follows-

Perceived quality

It is not the real quality of the product but the customer’s perception of the overall quality or

superiority of the product (or service) with respect to its intended purpose, relative to alternatives

(Zeithaml, 1988). Perceived quality lends value to a brand in several ways; high quality gives

consumers a good reason to buy the brand and allows the brand to differentiate itself from its

competitors, to charge a premium price, and to have a strong basis for the brand extension (Aaker,

1991). Students perception about quality of the institution includes their getting good job, enriching

knowledge, global exposure, quality faculty, internal factor of the institute and its leadership in the

field of business education.

Brand awareness

Brand awareness is an important component of brand equity. It refers to the ability of a potential

buyer to recognize or recall a brand as a member of a certain product category (Aaker, 1991).

According to Keller (1993), brand awareness consists of two sub dimensions, brand recall and

brand recognition. Brand recognition is the basic first step in the task of brand communication,

whereby a firm communicates the product’s attributes until a brand name is established with which

to associate them. Brand awareness can be a sign of quality and commitment, letting consumers

become familiar with a brand and helping them consider it at the point of purchase (Aaker,

1991).Students become aware about the institute in their good and bad concern also. Institutes

giving better placement, providing projects in reputed companies, offering industry relevant

programme and providing CSR related activities are some of the good concerns that aware students

about the institute. It gives better scope to institute and encourage students to become a part of this

valuable institute.

Brand association

Brand association is anything "linked" in memory to a brand (Aaker, 1991).Brand associations

create value for the firm and its customers by helping to process/retrieve information, differentiate

the brand, create positive attitudes or feelings provide a reason to buy, and provide a basis for

extensions (Aaker, 1991). Customer-based brand equity occurs when consumers have a high level

of awareness and hold some strong, favorable, and unique brand associations in their memories.

Institutes having uniqueness in education, good placenment, getting good value for money, strong

leadership in academia in comparison to competitors, innovative teaching method and research

development and getting respect and trust are basic concern of the institute to associate with the

brand.

Brand loyalty

Brand loyalty is at the heart of brand equity. Researchers have been challenged to define and

measure brand loyalty. From a behavioral perspective, it is defined as the degree to which a buying

unit, such as a household, concentrates its purchases over time on a particular brand within a

product category (Schoell and Guiltinan, 1990). From an attitudinal perspective, brand loyalty is

defined as “the tendency to be loyal to a focal brand as demonstrated by the intention to buy it as a

primary choice” (Oliver, 1997). This study conceptualizes brand loyalty not on the basis of

consumer behavior but rather on the basis of consumer perception. According to Aaker (1991),

brand loyalty adds considerable value to a brand and/or its firm because it provides a set of habitual

buyers for a long period of time. Loyal customers are less likely to switch to a competitor solely

because of price; they also make more frequent purchases than comparable non-loyal customers

(Bowen and Shoemaker, 1998). Institutes provide campus placement, understand student problem

and specific need of student, always willing to help students and provide material associated with

educational service are the key concern which make student loyal to the institutes.

7.Finding

Brand equity attributes i.e. perceived quality, brand awareness, brand association and brand loyalty

are the important aspect to build brand equity of the institutes.These attributes will be developed

and maintained on the basis of quality education, employability skill and placement.

Institutes having brand equity they maintain and sustain equity through changing parameter of

academic environment. Brand equity attributes are the sole responsible for building brand image of

any institution.

8.Suggestion

Imparting quality education is one of the key concerns for building brand and institutes should

focus on developing brand equity attributes by enhancing and sustaining changing creative and

innovative academic environment.

9.Conclusion

Changing academic environment influences overall academic structure and therefore institutes

should sustain in competitive environment by maintaining brand equity attributes.

Therefore, Institutes should focus on developing perceived quality, brand awareness, brand

association and brand loyalty.

10.References-

1. Aaker D.A. (1991), Managing Brand Equity, The Free Press, New York, NY.

2. Keller K.L. (1993), “Conceptualizing, measuring and managing customer based brand equity”,

Journal of Marketing, Vol. 57 No. 1, pp. 1-22.

3. Zeithaml V.A. (1988), “Consumer perceptions of price, quality, and value: a means-end model

and synthesis of evidence’’, Journal of Marketing, Vol. 52, July, pp. 2-22

4. Laha, Arnab Kumar (2002). Quality in Management Education: A Meta-analysis of School

Surveys, National Conference on quality of Life organized by IAPQR and Vishwa- Bharati at

Shantiniketan, West Bengal, November.

5. Muhammad Jawad Iqbal, Amran Bin Md. Rasli and Ibne Hassan (2012), University Branding: A

Myth or a Reality, Pak. J. Commer. Soc. Sci. Vol. 6 (1), 168-184

6.Thiripurasundari and Dr. P. Natarajans (2011), Conceptual and contextual dimensions of brand

equity, International Journal of Multidisciplinary Research, Volume 1, Issue 3.

HIGHER EDUCATION IN INDIA

Shakil Ahmad

Introduction

In order to meet the challenges of the 21st century and to acquire a competitive edge, the

higher education system of India has to transform to make it more socially relevant, technology

oriented, diversified and of high quality. The skills and specialization of graduates produced by our

system should match the real needs of the productive sectors in the market place and the

changing needs of our society. But the main issues concerning higher education in India is financial

stress. The various sources of finances for higher education in India are like government sector

(Central government and state government) and Non- Governmental Sector (Students/Parents or

families corporate) are not able to meet the financial requirements.

Main findings

With the adoption of the reform programme the government in India began to actively encourage

the private sector to enter this field of activity with almost no restriction. There have been

occasions when the government has intervened with respect both to admission and institutions of

professional of higher education, Government financing of higher education has reduced, from 28

percent of educational expenditure in 1989-90-91, to only 17.7 percent in 2003-04. The plan outlay

on education has fallen drastically. Public expenditure on education has never come even close to

the 6% of GDP recommended by the Kothari Commission and targeted from time to time.

The Government Share in Higher Education

The government Share e of higher education has not increased significantly in recent years this is

Primarily because of mounting debts rather than ideological overtones, as India already have a

debt of U$$ 136.5 billion up to September 2006. In year 2005-2006 government is spending less

than one per cent of the GDP on higher education. Despite the fact that public expenditure on

higher education was augmented to Rs. 33329.7 (2017). It is not sufficient in terms of unit cost per

student Since 2003, the Government of India started two percent of cess, a special tax on all

trading just to generate additional resources for education, but this amount cannot be used for

higher education It is earmarked solely .tor primary education, which is a constitutional obligation

for all governments in 1ndi a, Demand for higher educated manpower will increase substantially in

the near future and this will impel central focus on the quality and quantity of manpower produced

by the higher education system. Both for quantitative expansion and improvement in quality, the

system requires large additional resources. As the following table shows that the current public

expenditure is not sufficient to achieve the desired goals of higher education International

comparisons in expenditure on Higher Education in India and other countries. We all know well that

India is being projected as a would be super power by the year 2020. Some time this projection

seems to be baseless and means if we look the literacy rate of India and growth of educational

sector. The overall literacy rate as per the census 201l is 74% which is very less as compared to

the other developed nations like US. Japan China and Russia etc. Present by there are million

adult illiterates in India and only 60 million out on it especially India is far behind in development of

higher educational system Expenditure on higher education is small as compared to other

developed countries. India spends just $406 (about Rs. 18,600) per student on higher education.

That is Just a fraction of countries like China ($2, 7228 or Rs 125,000), Brazil ($3,986 or

Rs 182.000) and Malaysia (311,790 or Rs 510,0) spend.

The public expenditure of countries like US is almost 1.4 % of GOP Japan 0.5% GDP on

higher education but the current GDP of US is $ 11,667 billion, Japan $4,623 billion which is

double of India's $ 691 billion (UNDP & Word Bank reports 2005 and 2006). Thus the statistics

shows that even India is spending equally to the other developed nations in terms of the

percentage of GDP but the total GDP of India 1s less as compared to other nations. The

international comparison has been shown in the table below.

Table No.-1

Country Literacy Rate GDP in Lakh Crores world bank 2018

Expenditure on Education in terms of % of GDP

Year Expenditure of High Education in terms of % of GDP 2002

France 99 177 5.49 2013 1Canada 99 -- 5.28 2011 1.8USA 99 1379 5.38 2014 1.4UK 99 202 5.68 2015 1.1Germany 99 289 4.95 2014 1.1India 74 179 3.84 2013 0.8Japan 99 351 3.59 2014 0.5Source: Human Development Report 2005, published for the UNDP UNDP & World Bank Report

Year 2005 & 2006, (C) Statistica 2018 India needs to increase at least double of the current public

expenditure on education to achieve the 100% literacy.

Need to Increase public Expenditure on Higher education

Presently mere 34.6 million students are admitted into the country's 799 universities (All

India Survey of HE Match 2016, Ministry of HRD Govt. of India. While India has the second largest

system of higher education’s next only to the US. The student enrolment ratio in higher education

is just 7.2% However this rate is very low as compared to other developed nations. The enrolment

ratio even in higher education is 80% in USA, 50% in France. 30% in UK, 13% in China, even

developing and 1ess developed nations the enrolment ratio is higher than in India One of the

reasons may be the present number of universities; colleges, resources and facilities are

insufficient to cope up with the growing demands of higher education. The figure shows that the

number of universities and colleges are very small compared to other nations in India. The

Comparison of population and number of universities has been shown in the table below.

Table No. 2

Country Population and number population of

university

No. of university & college

Year

USA 326766748 5300 2015UK 66573504 109 2017

India 135405854 39258 2015 Source : Wikipedia

The gap between the demand and supply of appropriates skill has led to rising tend of

unemployment among the educated youth. Expansion of meaningful higher education always

leads to greater redistribution of wealth and income on the one hand and expansive development

level on the other hand. Here it is important to change in individuals cannot be effected. Here it is

important change and innovate an effective system of resource management to improve quality in

higher education. Several maladies are arising out of lack of autonomy and accountability in the

system the students are its worst affected. Examination system is in mess and needs to be

reformed.

Criterion for NAAC accreditation to the institutions are not essentially the hall mark of perfection

and excellence. Only 40% of the university and 20% of colleges have been audited and graded by

NAAC upto 2016. This needs to be changed after unbiased and fair review of the whole situation.

Despite being in existence for 2 over 20 years attests-to the failure of bureaucratic centralisation.

Light touch regulation with built in incentives is the best way to reform higher education. The draft

bill mandating a new Higher Education Commission of India (HECI) to replace the University G1

ants Commission (UGC) zeroes in on the problem of poor quality of Indian higher education, and

tick boxes in terms of wanting to promote autonomy of institutions and academic standards.

Without ability to offer monetary and other incentives for those scoring high, HECI will itself be

reduced to a blunt instrument. Hence there is enough scope for grave skepticism on whether new

system or scheme can rectify UGC's flaws which effectively hobble higher education in India.

The huge unemployment among the educated youths clearly indicates the poor quality and

suitability of present education. Higher education or post schooling skill and knowledge

development are real engine of growth .But lack of proper planning and vision-have led to total

disregard of quality and relevancy of educational programme which in turn has led to the collapse

of the higher education system in our state. A developer society needs to have a gross enrolment

ration (GER) of over 40%, in Bihar it is less than 12° 0. Examination system is in mess and needs

0 be overhauled. A large number of students have to go to other states for seeking admission only

due to non availability of quality institutions in the state. No step has been taken regarding quality

improvement of the teachers. The NET Examination is grossly inadequate to assess either

research potential or the teaching aptitude bf candidates. Unnecessary growing government and

political interference in university system has made the situation all the worse. This should

be minimized for proper functioning and improvement in quality. Autonomy to the institutions is the

need of hour.

Under the globalization universities are becoming borderless and the demand for quality

education that is to commensurate with need of the emerging market in the developing economies,

developed nations are expanding beyond their national boundaries while on the other hand

universal acceptance of the Intellectual Property Rights (IPR) requires sufficient amount of

development with supper technology by institution of higher education. Such imperatives have

come up to match with changing scenario of society, business, industries, political ideologies etc.

The infrastructure like Laboratories and libraries are under discouraging stage without any

financial help. Previously to meet the expenses of these items were met by the internal sources

and the grant but today only 5 percent of total expenditure is met by internal sources. The budget

allocation is only 6 percent which is not enough to pay the salary even to its teachers and non

teaching staff. The teachers and non teachers are getting salary any how after the lapse of two or

four months. For retirement benefit, they have to go to the shelter of court. The situation is that, the

best brains are making plight from higher education.

Due to increasing business by the MNC and market access and globalization students like

professional education forgetting quick and gainful employment. The courses like MBA, BBM,

MCA, BCA, Information Technology etc, are more attractive in the present scenario. Conventional

education is going to be disappear Consumerism will overlap the spiritualism.

Challenges before Higher-Education

Institutions of higher education face the following challenges on account of intellectual capital :

8. Knowledge is increasingly important as a source of competitive advantage, knowledge I.

creation leads to continuous innovation, which is turn results in competitive advantages.

9. Management of knowledge employee is much different from management of

production employees.

10. Fundamental shifts are occuring in the nature of work and in individual attitudes towards

employment.

11. Knowledge has displaced capital as the scarce production factor the key of corporate success.

12. Knowledge is the information about products, services, business process, and markets.

Competitors, laws, culture ethics, environment and society.

In a globalized market, knowledge, skill and talent have become a driving force. Quantity and

quality of highly specialized human resource may determine their competence of an organization in

the present global market. In case of Bihar, global opportunities may be available in plenty for

those who acquire and possess better and high quality of knowledge and skill in all spheres as per

industrial and market demands.

Quality aspects of human resources development, inclusive growth of the economy and the

welfare of the people is the focus. Good quality of higher education is the base of human

development. As human development focuses on empowering people to engage actively in

shaping equitable development process. People are both the beneficiaries and the drivers of

human development which may provides a critical trend to consider broader pattern of advanced

and major challenges facing the country.

Situation in Bihar

The scenario of higher education in Bihar is very miserable as the teacher taught ratio at college

level is 228.34. The knowledge commission recommendation suggests that for better economic

development, more than 15% students should be enrolled in higher education. But the number of

universities (09), Research institute (O4), agriculture and Forest College (2) shows the pitiable

condition of the higher education. The number of technical & Medical education institutions does

not justify the concept of skill development and knowledge led growth of 21st century. The heavy

populated state having just single Dental, Pharmacy and Veterinary Colleges with only 8 teacher

training institution are the factual representation of the quality of professionals providing health and

education.

Due to resource constraints,‘ state government alone is not able to fulfill the demand of

education. Thus, a number of private educational institutions have been set up in Bihar which is

generally institutes of technical, medical and vocational education. Public sector in infrastructure

investment has gone down from 75% in the 10th plan to 36% in the 11th plan and expected to go

down further to 5% during the 12th plan. Infrastructure both physical as well as Social infrastructure

needs sustained investments of a long term nature. Education is moving out of the hands of

educationists and into those of politicians, bureaucrats and cultural and religious organizations with

strong political agenda.

Conclusion and Policy options

A balance between conventional and vocational education at higher stage must be

maintained. The report of Chadha Committee should be implemented in no time. More over training

regarding new methods of teaching should be arranged at least twice in a year. The best teacher

should be awarded at national and state level without any favour. A key concern is to identify

approaches which can enhance the quality in educational system. In addition to financial audit,

HRD Audit, quality audit should be ensured Adequate funds must be available and on time.

Meritorious, talented, honest man-power must e retained. The fast growth of the Indian economy,

especially in the service sector requires a huge number of employable graduates. Therefore public

expenditure on each segment of the education especially higher education has to increase

substantially for timber growth of high quality manpower commensurate with India‘s growing

position in the world economy and the urgent need to keep pace with global development in an all

spheres of science and technology.

References

j. “Higher Education, National Informatics Centre, Government of

India”. Education.nic.in'. Retrieved 1 September 2010.

k. Report on HIGHER EDUCATION IN INDIA Strategies and Schemes during

Eleventh Plan Period (2007-2012) for Universities and Colleges.

l. Tilak J.B.G., Privatization of Higher Education", www.bc.edu.com

m. Sett, J.D.(2001) paces and Collapse or higher Education India , Vikas Publishing N.

Delhi

n. UNESCO (1998) Higher Education in 21st Century, Vision And Action "UNESCO,

Paris

o. Power KB (2001) "Indian Higher Education A conglomerate of concepts", Facts &

practices, concept, N, Delhi.

p. Association of indian Universities (1995) Liaison cells for university industry

Interaction, AIU, N. Delhi

q. Budget 2006: Lip service to education "By Dilip Thakare. Educational World,

April 2006, pp 30-35.

r. Bhan, Sonia. 'India Private sector energies in higher education" www.wes.org.

s. Tilak J.B.K. Privatization of Higher Education" www.bc.edu.com Shaikh saleem &

vidya gawali

t. University News A9U, Vol.45‘ Dec, 03-09, 2007.

u. The Hindustan Times Editorial 6.7.2018.

वैश्व िक श्वक परिरिप्र ेक्ष्य मे भारित मे प्लािक स्टिक मुद्रा की चनुौतितया ं एवं अवसरि डॉ० संजीव कुमारि प्रभाकरि

( ल० ना० िमिथला िवश्विवदालय, दरिभंगा)

संके्षपर : वैश्वश्वीकरिण के वतरमान समय मे बदलती आवश्यकताएं के परिरिप्रके्ष्य मे समय, तकनीक एवं आवश्यकता के समन्वय के आधारि पररि सभी के्षत्रों मे आशातीत परिरिवतरन हुआ इसी आलोक मे बिैकंग के्षत्र मे भी बदलाव देखने को िमल रिहा हैश्व| िवश्व के प्रायः सभी िवकिसत देशों मे प्लािक स्टिक मुद्रा का प्रयोग बडे़ परैश्वमाने पररि हो रिहा हैश्व चाहे वह अमेिरिका, जापरान, ऑस्टिर ेिलया, कनाडा आिद इसका प्रत्यक्ष उदाहरिण हैश्व| अतः भारित जैश्वसे िवकासशील अथरव्यवस्था वाले देश को भी लगता हैश्व िक अगरि िवकिसत देशों वाली अथरव्यवस्था मे शािमल होना हैश्व तो बिैकंग के्षत्र मे भी आवश्यक बदलाव लाना होगा, लेनदेन की बिैकंग प्रणाली सरिल व सुलभ बनाना होगा, नगदी िवहीन लेनदेन को बढ़ावा देना होगा| अतः कहा जा सकता हैश्व िक भारित जैश्वसे देश मे भी कागजी मुद्रा के प्रचलन के विनस्परत प्लािक स्टिक मुद्रा (डेिबटि काडर एवं के्रिडटि काडर) के प्रचलन पररि अिधक बल िदया जाना चािहए| वैश्वसे भारित जैश्वसे देश मे प्लािक स्टिक मुद्रा के प्रचलन मे अनेक चुनौतितयां हैश्व| यथा - परयारप्त बिैकंग सुिवधा का अभाव, नेटि बिैकंग की जानकारिी का अभाव, परयारप्त लोगों के परास डेिबटि व के्रिडटि काडर का अभाव, स्वैश्विपरगं की सुिवधा का सीिमत के्षत्र होना, धोखाधड़ी एवं जालसाजी संबधंी डरि आिद| भारितीय िरिजवर बकै के एक ताजा िरिपरोटिर के अनुसारि देखा गया हैश्व िक वषर 2016 के शरुुआत तक देश मे लगभग 64 करिोड डेिबटि काडर धारिक एवं 23 करिोड़ के्रिडटि काडर धारिक हैश्व| जो भारितीय जनसंख्या के दृष्टिष्टिकोण से बहुत कम हैश्व साथ ही केवल 7% लोगों के परास नेटि बिैकंग की जानकारिी हैश्व एवं 75% लोग ही बकै खाता धारिक हैश्व साथ ही स्वैश्विपरगं की सुिवधा भी शहरिों तक ही सीिमत हैश्व साथ ही यह भी देखा गया हैश्व िक लगभग 1.3 करिोड़ लोगों के डाटिा का चोरिी साइबरि अपररिािधयों द्वारिा िकया जा चुका हैश्व|

िफिरि भी उपररिोक्त सभी चुनौतितयों को देखने के उपररिांत कहा जा सकता हैश्व िक वैश्वश्वीकरिण के इस यगु मे अगरि भारित को िवकिसत अथरव्यवस्था वाले देशों की शे्रणी मे जाना हैश्व तो लोगों को अिधक से अिधक प्लािक स्टिक मुद्रा के उपरयोग करिने का अवसरि िदया जाना चािहए| प्लािक स्टिक मुद्रा न केवल कागजी मुद्रा की तुलना मे मजबूत एवं िटिकाऊ होते है बिक ल्क सुरििक्षत, साफि-सुथरिे एवं लेन देन मे सुिवधाजनक होते है| साथ ही इसमे कालाधन, िरिश्वतखोरिी, जालसाजी एवं भ्रष्टिाचारि पररि भी बहुत हद तक अंकुश लगता हैश्व िनष्कषरतः कहा जा सकता हैश्व िक वैश्वश्वीकरिण के इस यगु मे भारित जैश्वसे देशों मे भी वतरमान समय मे प्लािक स्टिक मुद्रा, वास्तिवक मुद्रा का मजबूत िवकल्पर बनता जा रिहा हैश्व|

प्रस्तावना :- मुद्रा का िवकास सभ्यता के िवकास से संबंिधत हैश्व प्राचीन काल मे मनुष्य की आवश्यकता बहुत ही सीिमत थी फिलस्वरूपर वह अपरनी आवश्यकता की परिूतर स्वयं करि लेते थे उन्हे मुद्रा की आवश्यकता नहीं होती थी वह केवल वस्तु िविनमय के माध्यम से अपरनी सीिमत आवश्यकता की परूितर करि लेते थे लेिकन जैश्वसे-जैश्वसे सभ्यता का िवकास होते गया वैश्वसे-वैश्वसे मनुष्य की आवश्यकताएॅॅ बढ़ती गई िजस कारिण वस्तु िविनमय प्रणाली से मनषु्य की मूलभूत आवश्यकताओं की परूितर मे किठिनाई उत्परन्न होने लगी क्योंिक वस्तु िविनमय प्रणाली से वस्तुओं के मूल्य मापरन संबंधी समस्या उत्परन्न होने लगी फिलस्वरूपर वस्तु-

िविनमय प्रणाली की किठिनाइयों ने ही मुद्रा को जन्म िदया परिरिणामस्वरूपर वस्तु मुद्रा, धातु मुद्रा, परत्र मुद्रा का प्रादभुारव हुआ वतरमान समय मे प्लािक स्टिक मुद्रा का भी प्रचलन बडे़ परैश्वमाने पररि हो रिहा हैश्व|

मुद्रा का परिरिचय एवं िवकास :- िकसी वस्तुओं का मूल्य चुकाने एवं अन्य व्यवसाियक दाियत्व को िनबटिाने के िलए िजस वस्तु का प्रयोग िकया जाता हैश्व उसे ही मुद्रा कहा जाता हैश्व इस प्रकारि कहा जा सकता हैश्व िक मुद्रा एक ऐसी वस्तु हैश्व जो िविनमय का साधन, मूल्यों का मापरन एवं मूल्य संचय का कायर करिती हैश्व तथा िजसे कानून के नजरिों मे िविधग्राही एवं सरिकारि से सामान्य स्वीकृित प्राप्त हैश्व| जहां तक हम सभी जानते ह ैिक मुद्रा की उत्परित्ति वस्तु िविनमय प्रणाली के किठिनाइयों को दरूि करिने के उद्दशे्य

के िलए ही हुआ था| प्राचीन काल मे सवरप्रथम वस्तु मुद्रा का ही प्रचलन हुआ िजसके अतंगरत जानवरिों के खाल, चमड़ा, गाय,

बैश्वल अन्न आिद का प्रयोग होता था उसके बाद धातु मुद्रा का प्रचलन हुआ िजसके अंतगरत लोहा, ताबंा, परीतल, सोना एवं चांदी आिद के िसक्के आिद का प्रयोग मुद्रा के रूपर मे होने लगा| िफिरि इसके बाद परत्र मुद्रा अथारत कागजी नोटिों का प्रयोग होने लगा इस तरिह कहा जा सकता हैश्व िक वतरमान मे धातुऐं के िसक्के कागजी नोटिों एवं प्लािक स्टिक मुद्रा का प्रयोग िकया जा रिहा हैश्व|

• मुद्रा के कायर :- 13.िविनमय का साधन :-14.मूल्यों का मापरन :-15.मूल्यों का संचय :-

• मुद्रा के प्रकारि :- 10. वस्तु मुद्रा :-11. धातु मुद्रा :-12. कागजी मुद्रा :-13. प्लािक स्टिक मुद्रा आिद :-

h. प्लािक स्टिक म ुद्रा :- प्लािक स्टिक मुद्रा से तात्परयर उस मुद्रा से हैश्व िजसको डेिवड एवं के्रिडटि काडर के रूपर मे प्रयोग िकया जाता हैश्व| यह सामान्य आकारि एवं सामान्य रिगं रूपर वाले प्लािक स्टिक काडर जैश्वसा होता हैश्व िजस पररि बहुत सारि ेनबंरि अिंकत रिहते है| दोनों की सेवाएं प्रायः बिैकंग माध्यम से ही होती हैश्व प्लािक स्टिक मुद्रा के रूपर मे इन दोनों काडो ंका उपरयोग िवत्तिीय लेनदेन को आसान बनाने के िलए िकया जाता हैश्व| कहने का तात्परयर हैश्व िक कैश्व शलैश्वस भगुतान के िलए इस प्लािक स्टिक मुद्राओं का प्रयोग िकया जाता हैश्व| इस तरिह कहा जा सकता हैश्व िक कैश्व शलेस प्रणाली को सस्ता एवं सुलभ बनाने के िलए िविभन्न बकैों, िवत्तिीय संस्थाओं एवं अन्य कंपरिनयों द्वारिा जो डेिबटि एवं के्रिडटि काडर जारिी िकए जाते ह ैउसे ही प्लािक स्टिक मुद्रा कहा जाता हैश्व|

i. डेिबटि काडर ( Debit Card) :- यह प्लािक स्टिक मुद्रा का एक रूपर हैश्व िजसके अतंगरत बकै खाते मे िजतनी रिकम जमा रिहती हैश्व उतनी रिकम या उससे कम रिकम का समान खरिीदने के िलए प्रयोग िकया जाता हैश्व जैश्वसे एटिीएम आिद|

िवशेषता एं :- v. इसमे अपरने खाते से ही रिकम िनकाला जाता हैश्व|w. इस काडर से िनकाली गई रिकम पररि कोई ब्याज नहीं देना परड़ता हैश्व|x. इसमे लेन-देन खातों मे उपरलब्ध रिािश तक सीिमत रिहता हैश्व|y. यह काडर अपरने देश मे स्वीकारि िकए जाते है|z. इसमे सिवरस चाजर कम लगता हैश्व|

j. के्रिडटि काडर (credit card) :- यह काडर भी प्लािक स्टिक मुद्रा का ही एक रूपर होता हैश्व इस काडर के अतंगरत बकै खाते मे िजतनी धनरिािश जमा रिहती हैश्व उससे अिधक धनरिािश का समान खरिीद सकते है िनिक श्चत समय के अदंरि शेष धनरिािश बकै मे जमा करिनी परड़ती हैश्व| अन्यथा उस अितिरिक्त धनरिािश पररि ब्याज अदा करिना होता हैश्व| इसमे ब्याज की दरि ऊंची होती हैश्व| क्योंिक बकै द्वारिा ऐसे ऋण िबना िकसी प्रितभूित के िदए जाते ह|ै

िवशेषता एं :-

18.इसमे बकै से रिकम उधारि िमलता हैश्व|19.इस काडर से िनकाली गई रिकम पररि ब्याज देना परड़ता हैश्व|20.इसमे रिकम की रिािश बकै द्वारिा तय की जाती हैश्व|21.इस काडर का प्रयोग पररूिी दिुनया मे िकया जाता हैश्व|22.इसमे सिवरस चाजर अिधक लगता हैश्व|k. प्लािक स्टिक म ुद्रा का महत्व :-

वैश्वश्वीकरिण के दौतरि मे कोई भी के्षत्र मुद्रा के प्रचलन से अछूता नहीं हैश्व| कहने का तात्परयर हैश्व िक मुद्रा के िबना िकसी भी के्षत्रों मे सफिलता नहीं िमल सकती हैश्व चाहे वह कागजी मुद्रा हो या िफिरि प्लािक स्टिक मुद्रा|इस तरिह कहा जा सकता हैश्व िक म ुद्रा का महत्व िनम्निलिखत हैश्व :-

उपरभोग के के्षत्र मे महत्व:-

उत्परादन के के्षत्र मे महत्व :- िविनमय के के्षत्र मे महत्व :- व्यापरारि के के्षत्र मे महत्व :- िवतरिण के के्षत्र मे महत्व :- परूजंी िनमारण के के्षत्र मे महत्व :- सामािजक के्षत्र मे महत्व :- रिाजनीितक के्षत्र मे महत्त्व :- कला के के्षत्र मे महत्त्व :-

प्लािक स्टिक म ुद्रा : च ुनौतितया ँ एवं अवसरि च ुनौतितया ँ :- जैश्वसा िक हम सभी जानते है िक वतरमान समय मे बदलते परिरिप्रेक्ष्य मे तकनीकी एवं आवश्यकताओं के समन्वय के आधारि पररि दिुनया मे तमाम बडे़ परिरिवतरन हो रिहे है अथारत हरि के्षत्र मे ऐितहािसक बदलाव हुए है| बीते दशक मे बिैकंग के्षत्र भी इससे अछूता नहीं हैश्व| अथारत इन के्षत्रों मे भी बदलाव देखने को िमला हैश्व| िजस कारिण आम जनता को तो फिायदा हुआ ही हैश्व साथ ही साथ देश की आिथरक िवकास भी हुआ हैश्व| जैश्वसा िक हम सभी जानते ह ैिक िवकिसत अथरव्यवस्था की परहली परहचान हैश्व नगदी िवहीन भगुतान प्रणाली क्योंिक यह कालेधन के प्रवाह को िनयंित्रत करिती हैश्व| एवं देश की करि व्यवस्था को सुदृष्टढ़ एवं मजबूती प्रदान करिती हैश्व| क्योंिक ऐसा देखा गया हैश्व िक प्रायः िवकिसत अथरव्यवस्था वाले देश यथा – अमेिरिका, चीन, ऑस्टिर ेिलया, रूस,

जापरान, कनाडा आिद मे प्लािक स्टिक मुद्रा का प्रयोग बडे़ परैश्वमाने पररि हो रिहा हैश्व| वैश्वश्वीकरिण के कारिण जैश्वसे-जैश्वसे भारितीय अथरव्यवस्था िवकासशील से िवकिसत की ओरि अग्रसरि हो रिही हैश्व| नगदी िवहीन भगुतान प्रणाली एवं अथरव्यवस्था पररि अिधक बल िदया जा रिहा हैश्व एवं इसके िलए प्लािक स्टिक मुद्रा यानी डेिबटि एवं के्रिडटि काडर के उपरयोग पररि अिधक जोरि िदया जा रिहा हैश्व| िजसका परिरिणाम यह हैश्व िक आज प्रत्येक बकै अपरने ग्राहकों को प्लािक स्टिक मुद्रा प्रयोग करिने की सुिवधा दे रिही हैश्व| अगरि देखा जाए तो वतरमान मे प्लािक स्टिक मुद्रा, वास्तिवक मुद्रा का मजबूत िवकल्पर बनता जा रिहा हैश्व| जैश्वसा िक हम सभी जानते है िक केद्र सरिकारि द्वारिा भ्रष्टिाचारि, काला धन तथा जमाखोरिी जैश्वसी समस्याओं के िनदान के िलए 8 नवंबरि 2016 को रिातों-रिात मुद्रा का िवमुद्रीकरिण अथारत देश मे 1000 एवं 500 के कागजी नेटि को बंद करिके हड़कंपर मचा िदया था| ऐसी िक स्थित मे नकदी की समस्या से जूझ रिहे जनता को प्लािक स्टिक मुद्रा एक बेहतरि िवकल्पर िमल गया| प्लािक स्टिक मुद्रा का प्रचलन शहरिों की अपेरक्षा ग्रामीण के्षत्रों मे कम देखने को िमलता हैश्व जो िक एक भयंकरि चुनौतती हैश्व| हालाँिक सरिकारि ने इस बिैकंग सुिवधा को जन-जन तक परहुंचाने के िलए अनेक महत्वाकांक्षी योजनाओं का शरुुआत की हैश्व|

उपररिोक्त तथ्यों के आधारि पररि कहा जा सकता हैश्व िक वैश्वश्वीकरिण के वतरमान दौतरि मे प्लािक स्टिक मुद्रा के प्रयोग से जुड़ी चुनौतितयां िनम्निलिखत हैश्व :-

12. प्लािक स्टिक म ुद्रा का कम प्रयोग :- सरिकारि ने जनधन योजना के माध्यम से अिधक से अिधक लोगों को बिैकंग सुिवधा परहुचंाया हैश्व| लेिकन उसके बावजूद भी आरिबीआई के िरिपरोटिर के अनुसारि वषर 2016 के शरुुआत तक देश ने मात्र 64 करिोड़ लोगों के परास डेिबटि काडर एवं मात्र 23 करिोड लोगों के परास के्रिडटि काडर हैश्व|

13. नेटि बै िकंग की जानकारिी का अभाव :- आजादी के इतने वषो ंके बाद भी अभी भी लोगों मे नेटि बिैकंग का अिधक जानकारिी नहीं हैश्व| लोग पररुिानी पररिपंररिा के अनुसारि चेक, डर ाफ्टि एवं रिोकड़ के माध्यम से ही ज्यादा से ज्यादा भगुतान प्रणाली का प्रयोग करि रिहा हैश्व|

14. परया रप्त लोगो के परास बैिकंग स ुिवधा का अभाव :- आरिबीआई की िरिपरोटिर के अनुसारि वैश्वश्वीकरिण के बावजूद भी भारित मे कुल आबादी का लगभग 75% लोग ही बकै खाताधारिक हैश्व| फिलस्वरूपर प्लािक स्टिक मुद्रा का परूणर उपरयोग एक चुनौतती हैश्व|

15. स्वैश्विपरंग की स ुिवधा का सीिमत के्षत्र :- भारितीय िरिजवर बकै के वषर 2016 के सवे के अनसुारि देश भरि मे सभी बकैों को िमलाकरि लगभग 12,37,930 स्वैश्विपरगं मशीन जारिी िकए गए थे जो िक अिधकतरि tier-1

औरि tier-2 शहरिों मे लगे हुए है| उक्त मशीन का कम उपरलब्धता भी प्लािक स्टिक मुद्रा के इस्तेमाल मे एक बड़ी चुनौतती हैश्व|

16. धोखाधड़ी एवं जालसाजी का डरि :- अभी भी लोगों को ऑनलाइन बिैकंग एवं प्लािक स्टिक मुद्रा पररि आसानी से िवश्वास नहीं होता हैश्व| कई बारि ऐसा देखा गया हैश्व िक डेिबटि काडर एवं के्रिडटि काडर के डाटिा को साइबरि अपररिािधयों के द्वारिा चोरिी करि िलए जाते है| एक सवे के अनुसारि वषर 2016 मे लगभग 32 लाख एटिीएम के िपरन चोरिी, 641 ग्राहकों का डाटिा चोरिी, 1.3 करिोड़ लोगों का कैश्व श चोरिी साइबरि अपररिािधयों द्वारिा करि िलया गया| यह भी प्लािक स्टिक मुद्रा के इस्तेमाल मे एक बड़ी चुनौतती हैश्व|

अवसरि (OPPORTUNITY) :-प्लािक स्टिक म ुद्रा के प्रयोग के अवसरि :- प्लािक स्टिक मुद्रा के प्रयोग से कागजी मुद्रा पररि िनभररिता कम होगी िजससे नोटि मुद्रा मे अपरनाने वाली कागज के िलए आयात पररि कम िनभररि रिहना परडे़गा| िवमुद्रीकरिण संबधंी किठिनाइयों का भी सामना नहीं करिना परडे़गा| इससे न केवल लेन-देन मे सुिवधा होगी बिक ल्क प्लािक स्टिक मुद्रा का अिधक से अिधक लोगों को अवसरि प्रदान करिने से लेन-देन मे जालसाजी की संभावना कम रिहेगी| साथ ही कालाधन, िरिश्वतखोरिी एवं भ्रष्टिाचारि जैश्वसे संगीन अपररिाध पररि भी अकुंश लगेगा|अतः प्लािक स्टिक मुद्रा का अिधक से अिधक अवसरि प्रदान िकया जाना चािहए क्योंिक इसमे कुछ िवशेष गणु पराए जाते ह ैजो इस प्रकारि हैश्व :-

मजबूत एवं िटिकाऊ :- यह अन्य मुद्रा की तुलना मे अिधक मजबूत एवं िटिकाऊ होता हैश्व साथ ही िदखने मे संुदरि भी लगता हैश्व|

सुरिक्षा :- इस दृष्टिष्टिकोण से भी यह कागजी मुद्रा से अिधक सुरििक्षत माना जाता हैश्व| साफि - स ुथरिे :- अन्य मुद्रा के मामले मे यह ज्यादा साफि-सुथरिे होते है| इसमे फिटिने या िगरिावटि की संभावनाएं नहीं

रिहती हैश्व| लेन - देन मे आसान :- लेन-देन मे आसानी से प्रयोग िकया जा सकता हैश्व| अथारत एक जगह से दसूरिी जगह ले जाने

मे सुिवधा व सरिल होता हैश्व| िवमुद्रीकरिण के समय भी भगुतान संबधंी किठिनाइयों का सामना नहीं करिना परड़ता हैश्व|

टिर ांसपरोटेिशन एवं िडस्टिर ीब्यशून मे भी सहायक होता हैश्व| िनष्कषर :-उपररिोक्त सभी परहलुओं के अध्ययन के उपररिांत कहा जा सकता हैश्व िक वतरमान के वैश्विक श्वक यगु मे िवश्व के िविभन्न देशों के साथ भारित मे भी प्लािक स्टिक मुद्रा के प्रचलन पररि अिधक बल िदया जा रिहा हैश्व| अथारत भारित जैश्वसे िवकासशील देशों मे प्लािक स्टिक मुद्रा, वास्तिवक मुद्रा का मजबूत िवकल्पर बन गया हैश्व| जरुरित इस बात की हैश्व िक सरिकारि को चािहए िक बिैकंग संबधंी सुिवधाओं को अिधक से अिधक लोगों तक परहुंचाएं एवं इन संबधं मे जन जागरूकता अिभयान भी चलाए| तािक आम-जन के सामने प्लािक स्टिक मुद्रा संबंधी चुनौतती ना आवे तथा अिधक से अिधक लोगों को प्लािक स्टिक मुद्रा प्रयोग करिने का सुअवसरि प्रदान हो सके|

संदभर :- • भारितीय भवन परिक ब्लशरि एंड िडस्टिर ीब्यूटिसर अथरशास्त्र (वगर 10 भाग 2)

• आरिबीआई का बुलेिटिन 2016

• मुद्रा बिैकंग, लोक िवत्ति एवं अंतरिारष्टिर ीय अथरशास्त्र, (BAEC-302) प्रोफेिसरि िगरिजा प्रसाद परांडे एवं अन्य|

• संजीव परटिवा “प्लािक स्टिक करिसेी ई-कॉमसर” 10,285 से 304

• UGEC-01 अथरशास्त्र का ऐिक च्छक पराठ्यक्रम (रिाजिषर टंिडन मुक्त िवश्विवदालय)

• डॉ० सुभानी मोहम्मद इिक म्तयाज “PLASTIC MONEY/CREDIT CARD CAHRISMA FOR NOW AND THEN”

• गगर, आनंद स्वरूपर (2000) अथरशास्त्र, सािहत्य भवन परिक ब्लकेशन आगरिा|

MANAGEMENT OF DEMAND & SUPPLY RELATED ISSUES AND PRICE VOLATILITY OF ONION IN BIHAR

Priyatam Kumar(Guest Faculty, Deptt. Of commerce, Marwari College, Bhagalpur, T.M. Bhagalpur University,

Bhagalpur, Bihar)

Rajiv Kumar Sinha (Research Associate, Agro-Economic Research Centre for Bihar & Jharkhand, T.M. Bhagalpur

University, Bhagalpur, Bihar)

1.1 BackgroundIndia is the world’s second largest producer of vegetables next only to China. Number of

vegetables grown in the country is quite large, but interestingly it occupied only 2.5 per cent of the

total cultivated area. In view of vegetable culture being of comparatively short duration, labour

intensive and more number of crops can be possibly and should be preferably taken from unit area

in a season, or year. It is more so desirable and suitable for increasing the incomes of marginal

and small farmers, and ensure more effective use of land and labour (including family labour

resources) for agricultural development.

Onion (Allium Cap) is, no doubt, an important and indispensable item in every kitchen as

condiment and vegetables in India. Being commercially cultivated in various countries of the world,

it is an important crop in all continents. However, about 3/4 th of global production is accounted for

by only 24 countries of the world. Among these 24 nations, important are China, India, USA,

Russia, Spain, Iran, Turkey, Brazil and Japan.

It is a widely acceptable fact that the demand for onion is worldwide and is not limited to any

particular region, climate and nationality Highly industrialized nations, such as: United Kingdom

and Germany and leading importers of onion.

The edible portion of onion is a modified stem bulb, i.e., 38.40 per cent and which is used

throughout the year in the forms of salad, condiments and for cooking with other vegetables. It is

also used in soups, sauces, curries, mutton, fish, chicken, pickles, etc for flavouring making these

more tasty and seasoning foods. Onion bulbs are rich sources of calories, vitamins, proteins,

carbohydrates, iron, minerals and ascorbic acid. Having been provided with medical properties,

onion bulbs are recommended for the person suffering from high cholesterol, asthma, weakness,

lethargy and lack of vitality. It is also effective incurring high fever, dropsy, catarrh diabetes and

chronic bronchitis.

The Centre’s first advance estimates for horticulture production for 2016-17 crop year that ended in

June, 2017 showed onion output to have fallen by 5.8 per cent during the year to 19.7 million tons,

while potato and tomato were to rise marginally. Onion production in 2016-17 was expected to fall

to 19.71 million tons as compared to 20.93 MT during the year 2015-16. The output was expected

to be down due to decline in acreage to 1.18 MHs in 2016-17 from 1.32 million hectares in the year

2015-16.

1.2 State wise Calendar of Onion CultivationIt is to be mentioned here that India produces three major varieties of onion red, yellow and white.

Onion production cycle has three seasons across the country; kharif, late kharif and rabi. In some

parts of the country, onions are grown in all the three seasons. North India has its major onion

crops during the rabi season. However, onion is grown both in kharif and rabi seasons in quite a

few states including Andhra Pradesh, Karnataka, Tamil Nadu, Gujarat and Maharashtra. Lately

kharif onion is also being produced in the northern part of the country. It is laudable to note here

that fresh onion, more or less, are available round the year.

1.3 Calendar : Indian Scenario

Table 1: State wise Tentative Sowing/Planting and Harvesting Timings of Onion in Major Production Belts in India

SN

Seasons Time of Sowing

Time of Transplanting

Time of Harvesting

1. Maharashtra and some parts of Gujarat

a.

Kharif May-June July-August September-December

b.

Early Rabi or late Kharif

August-September.

September-October January-March

c.

Rabi October-November

December-January April-May

2. Tamil Nadu/Karnataka & Andhra Pradesh

a.

Early Kharif March-April April-May July-August

b.

Kharif May-June July-August October-November

c.

Rabi September-October

November-December

March-April

3. Rajasthan/Haryana/Punjab/UP and Bihar

a.

Kharif May-June July-August November-December

b.

Rabi October-November

December-January May-June

4. West Bengal & Odisha

a.

Kharif June-July August-September November-December

b.

Late Kharif August-September

October-December February-March

In the production of onion, rainfall plays an important role. Differential seasonal patterns of

sowing, transplanting and harvesting in different parts of the country are the main reasons for this.

Onion production practices being followed by the Indian farmers vary depending on soil quality,

humidity and moisture content of weather in different regions. Onions are grown from seeds of the

previous year.

1.4 Area, Production and Yield of Onion : Present StatusThere is sufficient ground to enlighten that out of the 10 major onion producing states, on the

parameter of yield Bihar stood at third position (with 23,086 kg/ha) only after Gujarat and Madhya

Pradesh (25,485 kg/ha and 24,095 kg/ha) respectively as per data available for the year 2015-16.

Though in regard to area under onion, Maharashtra occupied the largest one (4,33,460 ha) followed

by Karnataka 2,07,150 ha, others taken together 1,65,270 ha and Madhya Pradesh 1,18,200 ha.

Bihar came at 5th position in regard to area under onion i.e., 54,030 ha. Total production of onion in

India (till 2015-16) was estimated at 2.10 crore tons. Bihar contributed 5.9 per cent only in the total

production of India. Maharashtra contributed the highest percentage share of total production

basket (31) followed by Karnataka, Madhya Pradesh, others, Gujarat, Bihar, Andhra Pradesh,

Haryana, Rajasthan, West Bengal and Uttar Pradesh (16.8, 13.6, 11, 6.5, 5.9, 4.2, 3.4, 3, 2.6, and; 2)

respectively. It is thus, crystal clear that in regard to area under onion, Bihar stood at 5 th position

(out of 10 major producing states), 5th in production and 3rd on the parameter of productivity (table

2). Bihar produced 1247.34 thousand tons of onion in 2015-16.

Table .2: Area, Production and Yield in Major Producing States : Onion

Area – ‘000 Ha, Production – ‘000 Ton, Yield – Kg/ha, Year – 2015-16

SN

States Area % to All-

India

Production % to All-

India

Yield

1. Maharashtra 433.46 35.4 6510.86 31.0 15,0212. Karnataka 207.15 16.9 3531.59 16.8 17,0493. Madhya Pradesh 118.20 9.6 2848.00 13.6 24,0954. Gujarat 53.20 4.3 1355.78 6.5 25,4855. Bihar 54.03 4.4 1247.34 5.9 23,0866. Andhra Pradesh 44.03 3.6 874.50 4.2 19,8627. Haryana 30.65 2.5 705.80 3.4 23,0318. Rajasthan 60.25 4.9 635.10 3.0 10,5419. West Bengal 33.98 2.8 544.55 2.6 16,02810. Uttar Pradesh 24.96 2.0 422.75 2.0 16,938

Others 165.27 13.5 2314.97 11.0 14,007All-India 1225.1

6100.0 20991.23 100.0 17,133

Source: Department of Agriculture, co-operation & Farmers Welfare, (Horticulture Statistics Division)

Note: States have been arranged in descending order of percentage share in production during 2015-16.

o Objectives and Scope :The paper encompasses the following objectives based on secondary data:

l. To analyse trends in area, production and productivity of onion in the state (2012-13 to 2016-17)

m. To assess price volatility in major onion production and consumption market in the State.n. To estimate the status and potential of onion infrastructure with specific focus on storage

structures ; and o. To suggest remedial measures from stakeholder’s perspectives.

1.6 MethodologyThe paper is mainly based on secondary data. However, for quick short note on onion crop condition and the then prevailing prices in major markets of Bihar, primary sources of information, i.e., traders/commission agents and retailers were also contacted. Secondary data has been used to find out recent trends of: onion production, area under its cultivation and yield in Bihar. Month wise and year wise wholesale prices have been obtained from MIU, Patna, various rounds of NSSO & CSO consumer data have been used for consumption related information. For district wise area, production and yield of onion and existing storage infrastructure related data, DES, Government of Bihar, Directorate of Horticulture, and Economic Survey, Finance Department, Government of Bihar like sources have been used. Simple tabular and percentage methods have been followed for analysis of data. Apart from secondary data, 17 Onion Stakeholders (Comprising 05 farmers each from Patna and Nalanda districts, 02. Commission Agents/traders each from two districts’ markets, 01. State Horticulture Department and 02. Onion Storages) were surveyed in detail using semi structured questionnaire.

o Seasonal Calendar of Onion : BiharThis section of the paper deals with brief discussion of: seasonal calendar of onion sowing,

transplanting and harvesting in the state of Bihar. It is to be noted here that in Bihar, onion is grown

during rabi season only. Sowing of the crop generally takes place after 15th November. After about

2 months of sowing, i.e., after mid January, transplanting takes place. As per the prevailing

practice, generally after 3 months of transplantation, i.e., after 15th April, or so, onion is harvested

(table 3).

In quite a few districts/areas, sowing activity is undertaken during 8-10 November (advance).

Transplanting of onion in these areas mostly takes place during December 25 to January 5th. It

clearly reveals that from the stage of sowing to transplanting, it takes about 45 days’ time. As these

are generally late variety crop (onion), hence harvesting starts taking place from 1st week of May –

table:.3 (A).

Table 3: Seasonal Calendar of Onion Sowing, Transplanting and Harvesting in the State of Bihar

Activities

June

July

August

September

October

November

December

January

February

March

April

May

Sowing Kharif

Late Kharif /Early Rabi

Rabi √ Transplanting

Kharif 8-10 (adva

nce)Late Kharif /Early Rabi

25 Dec.

To 5th

January

Rabi √Harvesting

Kharif Late Kharif /Early Rabi

√

Rabi 1st

week

Note – Shed with black color or use tick markTable .3A: Seasonal Calendar (Normal Years) of Onion Sowing, Transplanting and

Harvesting across major regions in the State of Bihar

Districts

Activities

June

July

Aug

Sept

Oct

Nov DecJan

FebMarch

April

May

Sowing

Kharif Late Kharif /Early Rabi

Rabi √

Transplanting

Kharif Late Kharif /Early RabiRabi

Harvesting

Kharif Late Kharif /Early RabiRabi

Note: Applicable if seasonal calendar of onion sowing, transplanting and harvesting differ across major regions of the state.

1.8 APY of Onion and Value in Bihar 2012-13

This section of the paper envisages district wise area, production, percentage of production to total

production of the state, yield and value of output during the year 2012-13. Nalanda, Katihar,

Muzaffarpur and Patna could be considered as major districts during 2012-13 from production point

of view contributing 12.84 per cent, 6.49 per cent, 5.38 per cent and 4.89 per cent in total

production respectively. It is interesting to note that major districts numbering 10 during this year

having occupied 51.54 per cent of the total area under onion cultivation contributed 52.67 per cent

of production and value of the of the crop as well. Table Nos. 4(A), .4(B) &.4(C) Minor districts,

which were 28 in number, occupied 48.46 per cent of total area and contributed 47.32 per cent of

total production. Productivity of the crop in major districts was a bit higher 20,931 kg/ha than that

of minor districts 19,993 kg/ha and the state average as a whole 20,477 kg/ha. It can thus, be

interpreted based on the data in the table that some incentivizing/promotional measures may be

taken by the State Government of Bihar and the Union Government, as well to make the scenario of

minor districts compatible for onion production. Average retail price of onion in the year 2012-13

was Rs. 16.51/- per kg.

.4 (A) Major Districts of Onion Production in Bihar, Year 2012-13Sl.No. Districts Area

(Ha)Production

(Metric Tonne)

Major Districts

% of total State

production

Yeild(Kg/Ha)

Value of Output(Rs. In

Crore) x@

Rs.16.51/-Per kg.

1 2 3 4 5 6 7A .1 Nalanda 6090 138810 12.84 22793 229.18

2 Katihar 3900 70210 6.49 18003 115.923 Muzaffarpur 2650 58170 5.38 21951 94.044 Patna 2580 52870 4.89 20492 87.295 W. Champaran 2340 51900 4.80 22179 89.696 E.Champaran 2390 50110 4.63 20966 82.737 Begusarai 2010 40480 3.78 20318 67.438 Vaishali 1810 36680 3.39 20265 60.579 Purnea 1800 35880 3.32 19933 59.2410 Bhagalpur 1640 34070 3.15 20774 56.25

Sub. Total (10 major districts)

27210(51.53%

)

569540 (52.68%

)

52.67 20931 940.31

Table .4 (B) Minor Districts of Onion Production in Bihar, Year 2012-13

B.11 Bhojpur 1210 25390 2.35 20983 41.9212 Buxar 930 19120 1.77 20559 31.5713 Rohtas 1210 22930 2.12 18950 37.8614 Bhabhua(Kaimur) 380 17500 1.62 46052 28.8915 Gaya 1440 28980 2.68 20125 47.8516 Jehanabad 460 11700 1.08 25434 19.3217 Arwal 440 9100 0.84 20681 15.0218 Nawada 1000 18440 1.71 18440 30.4419 Aurangabad 1130 21440 1.98 18973 35.4020 Saran 950 18030 1.67 18979 29.7721 Siwan 910 17640 1.63 19385 29.1222 Gopalganj 130 1410 0.13 10846 2.3323 Sitamarhi 980 14540 1.34 14837 24.0124 Sheohar 720 14610 1.35 20292 24.1225 Darbhanga 1110 28940 2.68 26072 47.7826 Madhubani 1210 21300 1.97 17603 35.1727 Samastipur 1400 25700 2.38 18357 42.4328 Munger 1020 20620 1.91 20216 34.0429 Sheikhpura 1310 24850 2.30 18969 41.0330 Lakhisarai 450 8540 0.79 18978 14.1031 Jamui 780 18890 1.75 24218 31.1932 Khagaria 770 14550 1.35 18896 24.0233 Banka 750 13880 1.28 18507 22.9234 Saharsa 650 12660 1.17 19477 20.9035 Supaul 380 7140 0.66 18789 11.7936 Madhepura 980 19050 1.76 19439 31.4537 Kishanganj 1390 26490 2.45 19058 43.7338 Araria 1500 28180 2.61 18787 46.53

Sub. Total (28 minor districts)

25590(48.77%

)

511620(47.32%)

47.33 19993 844.68

(A+B)

Grand Total 52800 (100%)

1081160

(100%)

100% 20477 1784.99

Table .4 (C) Major & Minor Districts of Onion Production in Bihar, Year 2012 – 13Sl. No.

Districts (Major & Minor 38 Districts)

Area (In Ha)

Production (In MT)

Major & Minor

Districts (% of

Total State(%

Production)

Yield(Kg/Ha

)

Value of output (Rs. In Crore)

x @ Rs. 16.51/- per Kg.

1 2 3 4 5 6 7A.1 Major 10

Districts27210

(51.53)569540(52.68)

52.67 20931 940.31(52.68)

B.2 Minor 28 25590 511620 47.33 19993 844.68

Districts (48.77) (47.32) (47.32)A+B Grand

Total52800(100)

1081160(100)

100 20477 1784.99(100)

Source: Economic Survey, 2014-15, Finance Department, Government of Bihar.

1.9.APY of Onion and Value 2016-17: BiharDuring the year 2016-17, 10 districts of Bihar, considered to be major ones in regard to production,

contributed nearly 52.66 per cent of the total state production having used 49.77 per cent of the total

area under onion. While the major districts accounted for 52.66 per cent of the total value created,

28 minor districts contributed only 47.34 per cent of the value by using more than 50.00 per cent of

the area.

Data in the table conduces to reach at the fact that Nalanda, Katihar, Muzaffarpur and Patna were at

the top of major districts in regard to total production (11.74%, 6.67%, 5.55%, and 5.24%)

respectively (table .5.A). Average productivities of onion in major districts was found much higher

24,444kg/ha than that of minor ones i.e., 21,777 kg/ha (table .5 A) and 5. B). Data in the table also

helps to feature that major districts (consisting 10 districts) had 26,905 hectare of land under onion

cultivation, produced 6,57,667 MT and earned Rs. 974.66 crore as total value of output. In regard

to minor districts, under which 28 districts have been kept, total area under onion cultivation was

27,152 ha, production was estimated at 5,91,293 MTs and contributed in earning as total value of

output calculated at Rs. 876.30 crore (table .5.A, .5. B & .5 C). Average retail price during the year

2016-17 was Rs. 14.82 per kg. Based on the data of five years, i.e., from 2012 -13 to 2016-17 and

having maintained all care, concludingly it may be mentioned that Patna and Nalanda are the two

major districts in Bihar from production point of view.

Table .5. (A): Major 10 Districts of Onion Production in Bihar, Year 2016-17SN Districts Area

(In ha)Production

(MT)Major

Districts

Yield(kg/ha

)

Value ofOutput

(Rs. in Crore)X @ Rs. 14.82/kg

1. Nalanda 5500 146667 11.74 26667 217.362. Katihar 3907 83249 6.67 21308 123.383. Muzaffarpur 2690 69319 5.55 25769 102.734. Patna 2700 65423 5.24 24231 96.965. West Champaran 2400 61923 4.96 25801 91.776. East Champaran 2500 61771 4.95 24708 91.547. Vaishali 1802 44049 3.53 24445 65.288. Purnea 1801 42500 3.40 23598 62.999. Begusarai 2000 42400 3.39 21200 62.8410. Bhagalpur 1605 40366 3.23 25150 59.82

Sub-total 26905 657667 52.66 24444 974.66

(49.77%) (52.66%)

Table .5 (B) Minor 28 Districts of Onion Production in Bihar 2016-17

11. Araria 1503 32315 2.59 21500 47.8912. Arwal 400 9900 0.79 24750 14.6713. Aurangabad 1120 25487 2.04 22756 37.7714. Banka 710 15721 1.26 22142 23.3015. Bhojpur (Ara) 1200 26000 2.08 21667 38.5316. Buxar 1000 25111 2.01 25111 37.2117. Darbhanga 1000 25000 2.00 25000 37.0518. Gaya 1405 1405 0.11 1000 2.0819. Gopalganj 900 18600 1.49 20667 27.5720. Jamui 809 22394 1.79 27681 33.1921. Jehanabad 516 13519 1.08 26200 20.0422. Bhabhua

(Kaimur)1012 20948 1.68 20700 31.04

23. Khagaria 804 17387 1.39 21626 25.7724. Kishanganj 1411 31647 2.53 22429 46.9025. Lakhisarai 407 10277 0.82 25251 15.2326. Madhepura 1000 22600 1.81 22600 33.4927. Madhubani 1000 23000 1.84 23000 34.0928. Munger 1100 26950 2.16 24500 39.9429. Nawada 999 21778 1.74 21800 32.2730. Rohtas 1209 27505 2.20 22750 40.7631. Saharsa 612 15300 1.23 25000 22.6732. Samastipur 1403 30465 2.44 21714 45.1533. Saran 1012 18216 1.46 18000 27.0034. Sheikhpura 1312 30277 2.42 23077 44.8735. Sheohar 702 17349 1.39 24714 25.7136. Sitamarhi 1303 32575 2.61 25000 48.2837. Siwan 902 21047 1.70 23334 31.1938. Supaul 401 8520 0.68 21247 31.19

Sub-total 27152(52.23%)

591293(47.34%)

47.34 21777 876.30

Grand Total 54057(100.00%

)

1248960(100.00%)

100.00 23105 1850.96

Table .5(C): Major and Minor Districts of Onion Production in Bihar, Year 2016-17SN

Districts Area(In Ha)

&(In %)

Production(In MT)

&(In %)

Major & Minor

District (%) of total

production

Yield(kg/Ha

)

Value of Output

X @ 24.96/kg(Rs. In Crore)

&(In %)

1. Sub-total of 10 Major District

26905(49.77)

657667(52.66)

52.66 24444 974.66(52.66)

2 Sub-total of 28 Minor District

27152(50.23)

591293(47.34)

47.34 21777 876.30(47.34)

3. Grand Total 54057(100.00

)

1248960(100.00)

100.00 23105 1850.96

Source: DSE, Govt. of Bihar & Directorate Horticulture, Govt. of Bihar

1.10 Monthly Retail Price in Major Market (2012-13 to 2017-18)In this section of the paper, attempt has been made to analyse and discuss month wise retail prices

of onion in major city of Bihar, i.e., Patna during the period 2012-13 to 2017-18 (up to October,

2018). A glance on data in the table helps us to imprint that highest average retail price in major

city of Bihar was Rs. 3,160/- per qtl in 2013-14 and the lowest was recorded in 2016-17, i.e., Rs.

1,459.58 per qtl.

Retail monthly prices of onion (as annual average) during the years 2012-13 to 2017-18 i.e., meant

only for five months from June-October, 2018 in one of the major cities of Bihar, i.e., Patna, were

calculated at Rs. 1597.08/qtl., Rs. 3160/qtl., Rs. 2456.67/qtl., Rs. 2956.67/qtl., Rs. 1459.58/qtl and

Rs. 2613.60/qtl respectively. Having a close look on data in the table, it could be established that

the average difference between wholesale price and retail price of onion in major city of the state

during the six years’ period remained at about Rs. 600/- per qtl.

1.11 Onion Storage Structures (2012-13 to 2016-17): BiharIn this section of the paperr, attempt has been made to comprehend the types of onion storage

structures, utilization and capacity in Bihar during the period 2012-13 to 2016-17. It is to be noted

here that all the storage infrastructures for onion have been created at individual growers’ level, i.e.,

at farmers’ level and not at the governmental level. The onion storage infrastructures have been

developed under two schemes, viz., Chief Minister’s Horticulture Mission (CMHM) and National

Horticulture Mission (NHM).

The size of onion storage structure is of 20 feet log x 10 ft breadth and 15 ft high. The

constructions of such storage are supported under MIDH with 25 MT capacity ventilated onion

shed. The unit cost of such storage structure is Rs. 1.75 lakh with 50.00 per cent subsidy.

Total numbers of union storage structures created under CMHM during the period 2012-13 to 2016-

17 were 444 and created under NHM were 585. Thus, total storage capacity generated at farmers’

level in Bihar during these five years is (1029 x 25 = 25725 MT (table :6).

Table-6:: Onion Infrastructure: Existing Number of Storage Year wise: Bihar

S

N

Year CMHM NHM

1. 2012- 63 120

132. 2013-

14

104 100

3. 2014-

15

176 87

4. 2015-

16

66 103

5. 2016-

17

35 175

Total 444 5851029 x 25 MT = 25725 MT

Source: Directorate of Horticulture, Government of Bihar, Patna. NB: Low cost Onion storage --- 25 MT

1.12 Policy Prescriptions

No doubt, check on prices of onions and potato like essential commodities are

desirable. Sometimes, in Bihar as a result of less than required arrivals from MP,

Maharashtra, Rajasthan and Karnataka, and for quite sometimes, due to hoarding of

the crop by big traders and stockists, its prices enhance very much. These contrary

situations may be effectively checked and reversed by contriving to increase

productivities and go up production in 24-26 minor districts, i.e, from production

point of view.

17. 25 MT ventilated onion storage facility being constructed through MIDH supports, is

not fully viable in Bihar. About 25 per cent of such created infrastructure is

effectively used. In remaining cases, it is used by the farmers for personal use. The

provision of low cost onion storage facility being provided at 50.00 per cent subsidy

against the total cost of Rs. 1.75 lakh per unit, the size of which is prescribed at 20 ft

length x 10 ft breadth x 15 ft height is not much desirable and less practical.

In place of this, medium cost storage infrastructure may be considered. The storage

capacity of such infrastructure may be minimum of 2000 MTs, and such facilities should

be provided at block level at least. It will be prudent and desirable to consider onion

storage infrastructure based on Holland Technology at different points in the state. One

such onion storage is installed near Bochha in Muzaffarpur, named as Kanti Prabha

Onion Store. It is of 800 MT capacity.

18. Farmers may be encouraged and provided desired technical and other assistances for

growing onion in kharif season. For this, special drive may be launched by

developing new varieties.

19. Such licence/permit may be issued to all traders of the state, which allows them to

purchase the crop from any part/region of the nation.

20. Proportionate distribution of onion after having estimated district wise consumption

demand, (at least a rough estimation) may be a good exercise.

21. Production of Jirrat onion, which is mainly grown in Bhagalpur region, should be

promoted by the concerned department, as it can be retained in useable form for

about 03 months.

22. Emphasis may be given on contriver initiatives for enhancing productivities of onion

in minor districts of Bihar (from quantum of production points of view).

23. Strategy for enhancing quantum of production of onion by bringing more areas

under its cultivation may be designed by estimating and expatiating consumption

demand (district wise, or region wise).

24. Since the state stood third in terms of yield rate, so there is need for extensive

farming of onion, which may be considered and targeted under District Horticulture

Plan.

25. Potential areas suitable for Onion production( which are still untapped) in different

districts of Bihar-need to be identified and brought under Onion cultivation by

providing the growers special incentives.

References

1.Dr.Sinha,Rajiv Kumar & Dr.( Mrs.) Marandi,Rosline Kusum” A Quick Study on Price

Volatility and Major Issues in Demand and Supply Management of Onion in Bihar

(First Part)”, ‘Agro-Economic Research Centre for Bihar& Jharkhand( MoA& FW,GoI)’’,T.M.Bhagalpur University, Research Study No.-46,August,2018.2.Maitry, S K, Banerjee, B N, and Maiti, A K “Marketing Efficiency --- A Case Study of Kakrol,” Agricultural Marketing, Vol. XLVI, No. 4, 2003, p. 28 (78).3.Malik, D P, Kumar, Sanjay & Hooda, B K, “An Economic Analysis of Production and Export of Onion in India,” Ibid, Vol. – XLVII, No 1, 2004, p-12.4.Chadha, Rajesh Bandyopadhyaya, Saurabh, Tandon, Anjali & Srivastava, Nandita “Identifying Competition Issues in Indian Onion Markets,” NCAER, February, 2012, p 5-6, 16-20, Agricultural Statistics At a Glance 2016, MoA & FW, DES, GoI, March 2, 2017, p. 228.5.Mukherjee, Sanjeeb & Agencies “www.business standard.com/article/economy- policy/onion - production-might-fall- by 5-8-in-2016-17 crop,” Feb., 18, 2017.6“Economic Survey 2017-18, Vol-I,” Deptt. of Eco Affairs, Economic Division, Ministry of Finance, Govt. of India, Jan., 2018.7 Singh, Sukhpal (2015), “APMCs : The other Side of the Story,” Feb. 08, 2015.

AN ANALYTICAL STUDY OF THE WORKING OF POVERTY ERADICATION SCHEMES WITH SPECIAL REFERENCE TO MAHATMA GANDHI NATIONAL RURAL

EMPLOYMENT GUARANTEE SCHEME IN BUXAR DISTRICT

Abstract :

The Government of India has continuously evolved and launched poverty eradication programmes

since the starting First Five Year Plan till to date. These programmes include employment

generation programmes, area development programmes and other types of development

programmes to uplift the economic and social status of poorer sections of society. In spite of

significant growth in major sectors of Indian economy including science and technology, the

number of people living below poverty line has increased substantially. The researcher has chosen

Mahatma Gandhi National Rural Employment Guarantee Scheme for a detailed study with special

reference to Buxar District. MGNREGS is a most ambitions scheme of the Government for poverty

eradication in rural area. In this research work the effectiveness of poverty alleviation schemes were

examined and the causes of the failures of the schemes as well as loop holes in the schemes were

ascertained. It is apparent that poverty eradication schemes especially MGNREGA have a positive

impact on the eradication of rural poverty. If short comings of MGNREGA are removed, it will

prove a flagship scheme of job guarantee.

1. Introduction :

India lives in Villages. Nearly three-fourth of population lives in villages. Thus, the ruralities

constitute the backbone of India. However, the basic fact is that majority of rural people who fill the

basket of our country continue to live below poverty line due to the multiplicity of factors like

illiteracy, malnutrition, indebtedness, lack of infrastructure etc. Even the basic necessities of life like

the food, shelter and clothing have become a luxury for many of these rural people.

Economic growth with social Justice has been accepted as a principal objective of our

planning process. However, in reality growth aspect of economy was kept more in prominence to the

neglect of social justice. This is quite evident from the fact that in spite of significant growth in

major sectors of Indian economy including science and technology, the size of poor and destitutes

has gone up in both absolute and relative terms. The number of people living below poverty line has

increased substantially.

KUMAR SUBHASHResearch scholar

Department of Commerce & ManagementVeer Kunwar Singh University, Ara (Bihar)

Om prakash agrawalPrincipal

S.B. College, Ara (Bihar)

It needs to be noted that the level of intensity of poverty in rural and urban areas are not

independent from each other. Poverty in urban areas has worsened because of the exodus of the rural

population to urban areas. The greater the intensity of poverty in rural areas, the larger would be this

exodus. It is also equally true that rural poverty worsens when the urban based industrial and service

sectors are not able to absorb and tap the potential of the growing labour force in the rural areas

which suffer from poor land man ratio.

Poverty may be relative or absolute. In developed countries, much of the poverty could be

related to the interruption, reduction or loss of earnings from contingencies such as temporary

unemployment, sickness, disability, old age, death of the main earners in the family and large

household sizes. This type of poverty persists even in India. However, in the Indian context, relative

poverty is less important than absolute poverty. Prof. Amartya Sen said that relative deprivation

cannot be the only basin for the emergence of poverty. He observed "there is an irreducible core of

absolute deprivation in our idea of poverty which translates report of starvation, malnutrition and

visible hardships into a diagnosis of poverty without having to ascertain first the relative picture."

Distribution of land and other assets continue to be skewed in rural areas. The rural poor

standing at 30 percent had access to 2 percent of the assets as compared to the ownership of 81.9

percent of the assets by the top 30 percent. Hence, rural poverty has emerged due to the absence of

access to the productive assets to the rural population.

Lack of purchasing power with the poor is one of the main obstacles in the way of their

economic and social empowerment. Credit might have played an important role in motivating

financially resource less rural poor by enabling them to acquire either productive assets for

generation of additional income or to undertake gainful employment oriented activities.

Unfortunately, there was lack of institutional credit for the people living in rural areas. According to

the All India Debt and Investment survey 92.8 percent of the total credit amount was provided by

private money lenders in the year 1951. The share of co-operatives remained 3.5 percent and

Government and other institution up to 3.7 percent. Commercial banks were totally absent from the

scene.

Till the year 1955, all banks in India were private sector banks. In the July 1955, the Imperial

Bank of India (the biggest private sector bark) was nation aliased. In July 1955 the State Bank of

India was established and all the undertakings of Imperial Bank were transferred to State Bank of

India. It was the first public sector bank of the country. The important factor that underlined the

necessity of having a public sector bank was the failure on the part of Imperial Bank of India, the

biggest bank of the country to implement the modest programme of opening of 114 branches within

a period of five years commencing from July 1, 1951. The Imperial Bank of India could open only

53 branches till 30th June, 1955. The wide gap between promise and performance indicated

unwillingness rather than inability of the leading private sector bank to translate into action even a

modest development oriented programme of branch expansion. The Bank having a narrow

conservative outlook preferred to play a passive role in the economy. This was the main reason for

establishment of the State Bank of India in July 1955. The SBI was required to open not less than

400 branches within 5 year since its inception mainly in rural and sub urban areas. Creditably the

SBI opened 416 branches during these years and fulfilled its obligation. The establishment of State

Bank of India was the first step towards social banking and providing access to banking facilities in

rural and sub-urban areas. The State Bank of India (Subsidiaries) Act was passed in 1959 which

enabled SBI to take 8 another private sector banks as its subsidiary banks. With the emergence of

SBI and its subsidiaries, the contribution of commercial banks in total credit accounted for 10.4

percent in 1961. Thus, in 1961, out of total credit, institutional credit accounted for 17.3 per cent and

private money lenders accounted for 82.7 percent (a fall of about 10 percent).

Larger number of commercial banks were still privately owned. Private Banks were

controlled and operated by a few industrial houses and big tycoons for serving their own interest and

the larger interest of the people and the society at large was neglected. The larger share in bank

credit was appropriated by large and medium size industries. This is evident from the fact that

during December 1960 to March 1966, the share of small scale industries in bank credit accounted

for 6.2 percent and that of agriculture (till March 1967) only 0.02 percent. Thus, the share of large

and medium size industries in total bank credit during the period remained roughly 94 percent.

Government imposed social control over private sector banks in 1968 in order to make them

more effective instrument for the attainment of economic and social goal of the country. Social

control without social ownership was neither adequate nor effective from the standpoint of

realization of the desired objectives. Consequently 14 major commercial banks were nationalized on

19th July 1969 followed by another nationalisation of 06 (Six) commercial banks on 15th April,

1980. In this way, 28 public sector banks accounted for 91 percent of total deposits of the country.

The nationalisation of commercial banks was a historical event in the field of social banking. The

post nationalisation period witnessed a complete reorientation of Indian banking from 'Class

banking' to 'mass banking' and from 'assets based lending' to 'production oriented lending' and from

'elite banking' to 'social banking'.

During 1969 and Nineteen Seventies a number of innovations were made in the field of

social banking. The concept of 'priority sectors' was evolved and Agriculture small scale Industries

and weaker sections were placed under priority sectors. A target of 40 percent of net bank credit was

fixed for priority sectors. Out of 40 percent a bank has to provide credit to agriculture 18%, small

scale Industries 12% and weaker sections 10%. The introduction of the concept of priority sector

lending by banks was supported by the establishment of credit Guarantee Corporation of India on

14th January 1971, in order to provide guarantee cover against the risk of default in payment in

respect of loans to various categories of small borrowers. The credit Guarantee Corporation of India

for mutated a scheme named as "Small Loans Guarantee Scheme, 1971".

On 15th July, 1978, Deposit Insurance and credit Guarantee Corporation of India (DICGC)

was established by an act of Parliament with its head quarter at Bombay (Mumbai). The two

organisations namely Deposit Insurance Corporation and Credit Guarantee Corporation were taken

over by DICGC with a view to integrate the twin and cognate functions of giving protection to

small depositors in banks and providing guarantee cover to small loans provided to certain

categories of small borrowers belonging to weaker sections of the society.

Keeping the above mentioned objective in view, the Government of India has continuously

evolved and launched poverty eradication programmes since the starting First Five Year Plan till to

date. These programmes include employment generation programmes, area development

programmes and other types of development programmes to uplift the economic and social status of

poorer sections of society. These programmes may be either credit linked or non-credit linked

programmes.

Credit linked Poverty eradication programmes include Integrated Rural Development

Programme (IRDP), Differential Interest Rate Scheme (DIR), Development of Women and Children

in Rural Areas (DWACRA), Swaran Jayanti Gram Swarojgar Yojna (SGSY), Kisan Credit Card

(KCC), Prime Minister Rojgar Yojana (PMRY), National Scheme of Liberation and rehabilitation of

scavengers and their Dependents (SLRS).

Non-Credit Linked Programmes include area development programmes, Employment

Generation Programmes and Specific Target Group Oriented Programmes. Some examples are

Jawahar Gram Samridhi Yojana, Minimum Needs Programmes, Mahatma Gandhi National Rural

Employment Guarantee Scheme (MGNREGS) etc.

The researcher has studied the credit Linked Poverty Eradication Scheme in detail and their

impact on eradication of rural poverty. Among the non-credit linked scheme, the researcher has

chosen Mahatma Gandhi National Rural Employment Guarantee Scheme for a detailed study and

that two with special reference to Buxar District. MGNREGS is a most ambitions scheme of the

Government for poverty eradication in rural area. Formerly this scheme was implemented as

National Rural Employment Guarantee Scheme (NREGS) on 7 September 2005. NREGA was

renames as “Mahatma Gandhi National Rural Employment Guarantee Act” (MGNREGS) in

October 2009 in order to honour the “Father of Nation”. MNREGA guarantees 100 days of

employment in a financial year to any rural household whose adult members are willing to do

unskilled manual work.

2. Significance and Objective of the Study :

The proposed research work is significant because nearly a hundred schemes have been

implemented by the Government for poverty alleviation, even then the number of poor has gone up

largely.

Growth has to be achieved for generating social Justice and raising the standard of living of

people especially those people who are still at the bottom of pyramid. Therefore, the objective

should be growth for economic and social justice.

Even after seventy one years of independence we have not been able to eradicate poverty

from the national scene. As per the planning commission estimates the number of poor people

living below poverty line was 260 million in 1999-2000. The people living below poverty line were

26.1 % as per planning commission estimates. Poverty means hunger and lack of shelter. Poverty

means living with a sense of helplessness. Poor people are in a situation in which they are ill-treated

at almost every place, in farms, factories, government offices, hospitals, everywhere. Since Poverty

has many facets we should look at it through a variety of indicates. Usually the indicates used in

measurement of poverty relate to the levels of income and consumption. But now the poverty is

looked through other social indicates like illiteracy level, lack of general resistance due to

malnutrition, lack of access to healthcare, lack of job opportunities, lack of access to safe drinking

water, sanitation etc. Analysis of poverty based on social exclusion, financial exclusion vulnerability

has now become very common in determining the extent of poverty. That is why the HDR ( Human

Development Research ) 2010 measures poverty in a new parameter, namely Multi-Dimensional

poverty Index ( MPI ), which replaced the human poverty index ( HPI ) used in 1997. The MPI

indicates the share of population that is multidimensional poor adjusted by the intensity of

deprivation in terms of living standards, health and education. According to this parameter India

with a poverty index 0.296 ranked 119 among 169 countries of the world. If we adept this

measurement (which is internationally accepted) the population living below poverty line will

substantially grow to around 500 million. At the time of independence it was estimated at 32

million. In this way every third person in India is poor. The proportion of people below poverty line

is also not same for all social groups and economic categories in India. Social groups which are

most vulnerable to poverty are scheduled caste and scheduled tribes households. Similarly, among

the economic groups the most vulnerable groups are rural agricultural labour households and the

urban casual labour households.

There are also many other socio-cultural and economic factors responsible for poverty. In

order to fulfil social obligations and observe religious ceremonies people in India including the very

poor spend a lot of money. Small farmers need money to buy agricultural inputs like seeds

fertilizers, pesticides etc. Since poor people hardly have any savings, they borrow. Unable to repay

because of poverty, they become victims of indebtedness. So the high level of indebtedness is both

the cause and effect of poverty.

We see that a plethora of Poverty eradication schemes have been implemented during the 67

years. Yet poverty remains a pressing problem. No doubt, poverty eradication schemes have their

impact on socio economic condition of the poor but these schemes have failed to give the desired

result. Economic growth has historically been good for the poor both directly because it raises

incomes, and indirectly, because it gives the state resources to provide public services and social

safety nets that the poor need. The opportunities that growth creates also encourages individuals to

invest in their own human capital. But growth needs to be complemented with active government

support to improve the economic lives of the poor and vulnerable about that there is no debate. The

issue is how best to deploy fiscal resources in support of the goal. Effective anti-poverty

programmes ought to be :

"(i) Based on data rather than popular perception,

(ii) Mindful of now policies shape- in deed frequently distort the incentives that individuals

and firms face and

(iii) Acutely conscious of the states own limited implementation capacity to target and

deliver services to the poor."

S.C. Jain argues to adopt the broader concept of poverty eradication. In his opinion –

"If the broader concept of poverty alleviation is accepted, the choice of progress indicators

has to embrace a wide spectrum than reporting the number of families crossing the poverty line,

investment expenditure and man days of employment generated along with physical quantities of

assets created. The levels of the protection of couples in services group families against unwanted

births, school retention rates infantile mortality, longevity and productivity trends levels of

employment and wage payments extent of income and savings leakages in wasteful consumption,

etc., could form indicators to assess gaps in the level of development of the service groups as

compared to average levels..."

Thus one of the biggest challenges of Independent India has been to bring millions of its

people out of abject poverty. Mahatma Gandhi always insisted that India would be truly independent

only when poorest of its people become free of human suffering.

3. Methodology :

The study was based on both Primary and secondary sources. Primary data have been collected

on MGNREGS regarding the working of the scheme in Buxar District. The study is also based

on published and unpublished materials on the subjects viz. Books. Journal, Reports, Newspaper

etc.

4. Conclusion :

In fact after independence the first rural development programme launched on national level

with the commencement of first five year Plan was “community Development Programme.”

Community Development Programme was launched on 2nd October 1952. The C.D.P. aimed at a

welfare state by bringing a socio economic transformation of rural India. The C.D.P. covered areas

of agriculture, horticulture, animal husbandry, fisheries, forestry, village and cottage industries, on

one side and promotion of health, Sanitation, communication and education on the other. But it

could not prove up to the expectations of rural Indians and it did not give much stress on a common

man’s participation in chalking out developmental programmes. In other words it did not work on

the principle of “bottom up planning”.

Considering the intensity and urgency of the problem of poverty and unemployment, the

efforts towards tackling them were intensified during the process of planned development. These

efforts are reflected in a series of development programmes with due emphasis on poverty

alleviation. While designing these programmes, a multi-pronged approach was adopted because of

the fact that the poverty is the outcome of a number of factors on one hand and at the same time it

gives rise a number of problems to the society on the other, Based on the immediate objectives,

target groups covered, size, sectoral orientation, modus operandi, etc. These programmes could be

divided into various categories. From the angle of need and nature of involvement of credit

institutions we have divided these poverty eradication schemes into two broad categories. (a) Credit

Linked Poverty Eradication Programme (CLPEP), (b) Non-credit Linked Poverty Eradication

Programme (NCLEP).

The S.R. Hasim Committee reviewed the rural development and poverty eradication

programmes in 1997. It recommended a single self-employment programme. It also suggested that

the individual approach should be replaced by group approach and cluster approach for financial

assistance.

The implementation of a number of programmes resulted in lack of proper social

intermediation, absence of desired linkages among these programmes, more importance given to

target achievement instead of sustainable income generation. Therefore, six rural development

programmes were integrated into one programme named as Swarnjayanti Gram Swarojgar Yojana

(SGSY). The programmes which were restructured and integrated into SGSY were IRDP,

TRYSEM, DWCRA, SITRA, GKY (Ganga Kalyan Yojana) and MWS (Million Wells Scheme).

SGSY was launched on 1st April 1999 after restructuring of all these programmes. Later on SGSY

was also subsumed and integrated into National Rural Livelihood Mission (NRLM)/Aajeevika. In

the same way, among employment generation programmes Food for Work Programme was

integerated in National Rural Employment Programme which was later on merged with Rural

Landless Employment Guarantee Programme in Jawahar Rozgar Yojana (JRY) on 1st April 1989. In

1989, other three wage employment programmes were integrated into one new scheme Jawahar

Gram Samridhi Yojana launched in April 1999. Again, Sampoorna Grameen Rozgar Yojana was

launched in September 2009 by merging the ongoing schemes of employment Assurance Scheme

(EAS) and Jawahar Gram Samridhi Yojana (JGSY). In 2005, National Rural Employment

Guarantee Act (NREGA) was passed. NREGA which was later on named as Mahatma Gandhi

National Rural Employment Programme (MNREGA) is the most ambitious and flagship

employment programme of the country. Among all poverty eradication schemes, we find that there

are some most popular poverty eradication programmes. One is credit linked-i.e. National Rural

Livelihood Mission (NRLM)/Aajeevika. Another credit linked scheme is Swaranjayanti Shahari

Rozgar Yojana (SJSRY)/ National urban Livelihood Mission (NULM). Among non-credit linked

schemes viz. wage employment generation Schemes Mahatma Gandhi National Rural Employment

Guarantee Scheme (MNREGA) is most ambitious and flagship scheme of the government.

The positive visible impacts of MNREGA are as follows :

* Agricultural wages have increased

* Distress migration has shown a decline

* Area cultivated has increased

* Water conservation structures have been built and in many cases, have been revived.

However, despite all these amazing data, MGNREGA has become one of the most abused

programmes, where everybody who is getting the chance to make money is making. There are clear

evidences that original objectives of MGNREGA have yet to be achieved on a large scale and its

true potential as an instrument of rural transformation is yet to be fully realized.

Gaurav Datt from the World Bank has made a study of poverty in India for the period 1951-

1992 using NSS data. The study reveals that between 1951-52 and 1991-92, the nation head count

index of poverty declined from about 53 percent to 38 percent. Rural poverty during this period

declined from about 55 percent to 39 percent .... But the absolute number of poor increased from

199 million in 1951-52 to about 323 million in 1991-92. Out of this; the number of rural poor

increased from 171 million in 1951-52 to 250 million in1991-92. During 2004-05, the absolute

number of poor was estimated at 407.1 million. Out of this rural poor accounted for 326.3 million

and urban poor 80.8 million. The poverty ratio in the country was measured at 37.2 percent. The

rural poverty ratio was 41.8 percent during 2004-05. In absolute term the number of total poor

defined from 407.1 million to 269.3 million in 2011-12 based on Tendulkar Method. Out of this

269.3 million rural poor accounted for 216.5 million (80.4%). There was an average annual decline

of 2.32 percent in rural poverty and 1.69 percent of urban poverty between 2004-05 to 2011-12. The

government appointed another expert panel headed by the former RBI governor Mr. C. Rangarajan.

Rangarajan Committee submitted its report in 2014. According to Rangarajan Committee at that

time 29.5 percent population was poor. The total number of poor was estimated at 363 million.

From above discussion we infer the following conclusion -

1. The absolute number of poor has increased from 199 Million in 1951-52 to 363 million in

2013-14. The increase in absolute number can be accounted for by increase in population.

2. The average annual rate decline in head count index of poverty during 1951-92 was 0.8

percent which improved. Between 2004-05 and 2011-12 the average annual decline in

poverty was 2.18 percentage points. The decline in rural poverty during the same period was

2.32 percentage points.

Thus, it is apparent that poverty eradication schemes, especially MNREGA have an

impact on the eradication of rural poverty. If it is re-shaped in the interest of poor skilled and

non-skilled wage earners it will prove a flagship scheme of job guarantee.

5. References :

i. Books:

1. Sundaram I Satya- Rural Development, Himalaya Publishing House, New Delhi

(2009)

2. Verma, S.B. et al. - Rural Credit and Co-operative Development, Deep and Deep

Publication, New Delhi (2006)

3. Sundaram K.P.M. and Dutt Rudar- Indian economy, S.Chand, New Delhi (2005)

4. Shandilya T.K, Agricultural Credit and NABARD- Deep and Deep Publication, New

Delhi (2006)

5. Sinha, S.K.- Rural Credit and Co-operatives in India, Suneja Publishers, New

Delhi (2009).

ii. Report: Government of India – Economic Survey; Various Issues

iii. News Papers: The Hindu-Kolkata Edition, The Hindustan Times-Patna Edition.

https://nrega.nic.in/netnrega/mgnrega_new/Nrega_home.aspx

ANALYSIS OF RECOVERY MECHANISMS OF NON-PERFORMING ASSET IN INDIAN

BANKING SECTOR

Nityanand Deva(Assistant Professor, International School of Management Patna)

Shilpi Kavita(Assistant Professor, International School of Management Patna)

Abstract : Financial stability has become an integral part of development of developed and

underdeveloped economy. Central banks have recognised the need of the hour of intervening in the

financial market for normalising the tremors of financial rumble.

The Indian banking sector has shown positive result in terms of revenue, diversifying its operation

along with attracting foreign capital. However the aforesaid achievements have been not recognised

because of rising NPA. Non-performing Asset is a vital factor in judging the financial viability of a

bank. NPAs directly impacts on the liquidity, profitability and the overall quality of assets and

successful survival of banks. The increasing level of default is leading to rise in Non-Performing

Assets, reducing the profitability and quality assets in financial statements of banking sector.

Though NPA is a focussed problem of banking sector but its impact is felt through the trickle-down

effect to the whole financial system and inadvertently to the whole economy. The objective of our

study is to measure the effectiveness of recovery mechanisms of NPA. The four recovery

mechanisms covered in our study are Lok Adalat, Debt Recovery Tribunal, Insolvency and

Bankruptcy and Insolvency Code and SARFARSI Act. The secondary data collected from different

sources has been used in the study.

Key Words: NPA, Financial Sector, Banking Sector

Introduction

Banks accepts deposits like fixed deposits and recurring deposits from individuals and institutions

on which banks have to pay interest. The bank utilizes the money accumulated by giving it as loan

to individuals and corporates. The interest charged by the bank on loans is more than the interest

which it has to pay to the depositors. This interest differential is known as spread. The problem

arises for the bank when the loan given is not recovered. When the borrower does not pay the

interest and/or principal repayment due on the loan for more than 90 days, the loan is categorized as

Non Performing Asset. In case of farm loan, when loan is taken for short duration crops,

nonpayment of interest and /or principal for more than 2 short crop duration loans is termed as

NPA. Rising NPA has been one of the biggest problems of Indian Banks for some time now. Rising

NPA has also caught attention of RBI which has been issuing different directives to all of the

commercial banks to reduce the NPA. NPA not just affect the banks but also has an adverse effect

on the financial sector and the economy of the country. The menace of high NPA is also reported in

the media which is not good for the banks. Recently some high profile cases of NPA has been

reported which involves very famous industrialist of the country. The amount involved in these high

profile cases is running into thousands of crores.

Research Problem:

The rising Non Performing Assets have been the biggest problem faced by the Indian banks. To

tackle the problem of rising NPA, Indian government has come out with various mechanisms to

help banks in recovery of NPA. The mechanisms are Lok Adalats, SARFAESI Act, Debt Recovery

Tribunal and Insolvency & Bankruptcy Code. This study will look at various dimensions of the

recovery mechanisms and compare them to draw conclusions regarding their effectiveness.

Research Design:

In this research paper, Descriptive research has been used as this study is focused on the

phenomena of Non Performing Assets in Indian banks. This study will evaluate recovery

mechanisms of NPA used by the lenders.

Research Objectives:

16. Comparison of NPA recovery mechanisms.

17. Finding out reasons behind NPA.

18. Ascertainment of impact of NPA on financial health of bank.

19. Provide suggestions to reduce NPA.

Method of Data Collection

Only secondary data has been used in this study. Various study conducted by RBI on NPA have

been referred to for the purpose of this study.

Literature Review

Kambar (2019) studied various aspects of Non Performing Asset in Indian banking sector. The

study states that Indian economy was in a boom phase from 2000-2008. There was a lot of credit off

take during this period but when there was a economic downturn, corporate found it very difficult to

service their loans leading to increase in NPA.

Dey (2018) argued that Lok Adalats decision cannot be challenged in high court but since there is a

limit of Rs 10 Lakh, only small NPA cases can be referred to Lok Adalats. Cases of higher NPA can

be referred to Debt Recovery Tribunal but its effectiveness with respect to recovery is largely

limited as the ruling of Debt Recovery Tribunal can be challenged in the high court.

Chepuri and Emmaniel (2017) concluded that Lok Adalats have not been successful in recovering

a significant amount of Non Performing Asset. The study stated that SARFAESI Act is more

successful measure of recovery of Non Performing Asset as compared to Lok Adalat.

The Problem of Rising NPA in Indian Banking Sector

The graph below clearly shows that the NPA has been increasing over the past 6 years. Even after

efforts from central government and Reserve Bank of India the problem of rising NPA is still

persisting.

.

Effect of NPA on Banks

14. Reduces the Interest Income of the Bank: The banks are not able to earn any

interest on the NPA. This has a negative effect on the total interest income of the

bank.

15. Capital Loss: Sometimes the principal amount of loan is not recovered by the

bank. This reduces the capital of the bank.

16. Reduced Profitability: Since there is no interest income on NPA and due to need

of more provisioning required, the total income of the bank is reduced, denting

the profitability of the banks.

17. Reduction in Productivity of Employees: The employees of the bank have to

devote huge amount of their working hours on documentation and work on legal

proceedings to recover the NPA. This results in low productivity as the time

should have been used for more deposit mobilization and credit appraisal of new

loans.

18. Bad Image: These days the media is very quick to highlight the banks which

have high NPA in their reports which leads to bad image in the eyes of general

public and RBI.

19. Increase in Cost of Capital: NPA leads to high cost of capital which has a

negative impact on financial performance of the bank.

20. Reduction in Efficiency of the Bank: The return on assets is reduced due to

presence of NPA in the balance sheet of banks which reduces the efficiency of

the bank.

21. Low Risk Bearing Capacity: Due to NPA, the risk bearing capacity of the bank

also gets reduced substantially.

22. Fall in investor confidence: High NPA will lead to a fall in market share price of

banks as NPA has a negative impact on profitability of the bank. This will lead to

erosion of investor confidence.

23. Alternative ways of increasing income: To offset the losses due to NPA, banks

have to impose charges or increase charges on various services like debit card

annual fees, penalty for non-maintenance of minimum balance, and ATM

transactions’ fees.

Reasons behind Rising NPA in Indian Banking Sector

p. Poor Credit Appraisal Process: After the loan application, the credit appraisal is not done

properly leading to loan approval to unworthy loan applicants.

q. Poor Monitoring after Loan Disbursement: Due to lack of proper monitoring after loan

disbursement, funds are diverted to avenues which were not approved/mentioned when

application of loan was made.

r. Poor Project Appraisal: Sometimes due to bad project appraisal (Overestimation of income

or underestimation of expenses) the borrower invests the money in wrong projects because

of which the he suffers major financial loss. The repayment of such loans is very difficult.

s. Project Delay: Even after the loan amount is credited to the borrower, the project does not

take off for a lot of years due to long gestation period. So, such kind of loan becomes NPA

because debt servicing becomes very difficult.

t. Problem of Willful Defaulters: Big industrialists who are well connected with influential

politicians have been defaulting in payment. They have huge financial resources but still

they do not pay the loan amount because they think they can get away with it.

u. Over Expectation of Economic Growth: Banks due to over expectation of economic growth

rate sanction high amount of credit to unworthy applicant. But when the economy fails to

take off as estimated lot of business fail to service their loans.

v. Natural Hazards: Farmers take loan from bank to buy agricultural accessories and urea. Due

to lack of rain lot of crops don’t grow causing huge fall in income of farmers because of

which loan get converted into NPA.

w. Political Interference: Politicians has been interfering with the functioning of the banks,

especially Public Sector Banks. Politicians in the past have put pressure on the banks to

sanctions loans to their friends and relatives. They also interfere into the selection of PSB’s

chairman/Managing Director.

Measures Taken to Recover and Reduce Non Performing Assets

Reserve Bank of India, which is also known as Bank of Bankers and government in the past, has

come out with measures to help banks in recovering the NPA. The measures taken include

formation of Securitization and Reconstruction of Financial Assets and Enforcement of Securities

Interest Act, 2002(also known as SARFAESI Act), Debt Recovery Tribunals (DRT), LokAdalats

and Insolvency and Bankruptcy Code.

Effectiveness of Debt Recovery Tribunals (DRT)

Debt Recovery Tribunal are suppose to complete the proceedings of recovery of NPA within six

months but DRT’s have been making much more time then the stipulated time period. The recovery

rate of DRT is also very poor. Government in the year 2018 increased to minimum amount of cases

that can be referred to DRT to Rs. 20 Lakh.

Effectiveness of Securitization and Reconstruction of Financial Assets and Enforcement of

Securities Interest Act, 2002

The SARFAESI Act was introduced by the central government to reduce the mounting burden of

NPA on Indian Banks. Before the act was introduced, it was very difficult to sell the collateral

security to recover the loan amount. To sell the collateral security bank had to file a case in the court

and only after the permission was granted by the court, bank was able to sell the collaterals. This

was a very time consuming process which was having an adverse impact on profitability and

liquidity of the banks. To resolve this problem, in the year 2002 the SARFAESI Act was introduced.

After the act came in force, banks were able to sell the collaterals without the need of court’s

approval. It made the recovery process of NPA a lot easier for the banks. Some of the borrowers

were not happy with the ordinance as there was no distinction made between willful defaulters and

normal defaulters. Some borrowers were of the opinion that a distinction should have been made to

provide relief to the borrowers who have suffered losses in business due to adverse economic

situation of the country.

Effectiveness of Lok Adalats

Lok Adalats were introduced by the government to reduce the pressure of increasing number of

cases in civil courts. The NPA related cases which are pending in civil court or were in Pre-

Litigation stage can be brought to Lok Adalats. Cases in which the NPA amount is less than 5 lakh

are usually referred to Lok Adalats. There is no fees involved in Lok Adalats. . To make

LokAdalatsa effective mechanism for recovering NPA, LokAdalats have been given the same

power as that of Civil Court.

Effectiveness of Insolvency and Bankruptcy Code

The IBC is still in its early years but has seen a lot of success. In the fiscal year 2018-2019 banks

were able to recover 70,000 crore rupees from various defaulters which goes to show that IBC is a

highly effective tool to recover NPA. It has recovered twice the amount recovered from other

mechanisms combined such as SARFAESI Act, Debt Recovery Tribunals (DRT) and LokAdalat in

the previous year. The recovery rate also was an impressive 46.1%. According to CRISIL, only

within three years of its existence IBC has become a very effective tool of NPA recovery and has

shifted the power from borrowers to the creditor (Bank).

One of the biggest reasons for the success of IBC is that defaulting borrowers now fear that they

might lose their assets if the resolution process fails. According to a report by Insolvency and

Bankruptcy Board of India (IBBI) almost Rs 2.02 lakh crore to Rs 3 lakh crore of debt pertaining to

4,452 cases were disposed of even before admission into the IBC process, as the borrowers repaid

the amount due back to the banks. The average resolution time taken under IBC is just 324 days

which is significantly less than 4 years earlier. Although there is scope for development as the

average timeline to complete the debt recovery process is just 270 days as stated in the IBC.

Series 1 Average Recovery Rate (DRT+SARFAESI ACT+ LokAdalats) in PercentageSeries 2 IBC Recovery Rate

Comparative evaluation of effectiveness of various recovery mechanism of NPA

Percentage of Total NPA Cases Referred from 2012-13 to 2016-2017

Most number of NPA cases have been referred to Lok Adalat in between 2012-13 to 2016-17

followed by SARFAESI Act and Debt Recovery Tribunal. The reasons behind popularity of Lok

Adalat are

aa. Indian Banking Association (IBA) has issued directives in the past to banks instructing

them to use Lok Adalat to recover NPA.

ab. There is no fees involved so it is cost effective.

ac. Cases which are in civil court can be referred to Lok Adalats.

ad. Lok Adalat has the same powers which a civil court has.

50% of NPA amount in between 2012-13 to 2016-17 was under consideration of SARFAESI Act

which is equal to the combined NPA amount of Lok Adalats and Debt Recovery Tribunals. The

biggest reason behind popularity of SARFAESI Act is that it gives the right to bank to sell the assets

of the defaulting borrower without approval of court.

The highest recovery rate in-between the time duration of 2012-13 to 2016-17 belongs to

SARFAESI Act followed by Debt Revovery Tribual and Lok Adalat.

The recovery rate of NPA has been falling in between 2012-13 to 2016-17.

Suggestions to Reduce NPA

23. Strong and Rigorous Credit Appraisal System: The need of the hour is that banks should

have very strong credit appraisal system to ensure the applicant is judged objectivelyon all

the parameters used to judge credit worthiness.

24. Post Disbursal Monitoring: Even after the loan amount has been disbursed, the bank should

Average Percentage Recovery Rate From 2012-13 to 2016-17

regularly monitor the use of funds by the borrower to prevent diversion of funds.

25. Only Good Employees Should Be Given the Task of Credit Appraisal: Due caution at the

credit appraisal stage can substantially reduce the NPA. To enable it, only hardworking and

responsible workers should be engaged in the task of credit appraisal.

26. Due Consideration Should be given to ROI of Proposed Project: In case of corporate

borrowers, before the approval is granted of loan, the return of investment of the proposed

project should be looked at. If the return of investment is on the lower side, such proposals

should not be funded by the bank.

References List

Chepuri, V 2017, The role of Lok Adalat in managing non-performing assets in scheduled

commercial banks, International journal for innovative research in multidisciplinary field,

India

Dey, S 2018, Recovery mechanism of non-performing asset in Indian commercial banks: An

empirical study, .NSOU-Open journal, India

Gupta, M 2017, A comparative study of SARFAESI Act 2002 and other tools available for

recovery of NPA’s, International Journal for research in applied science and engineering

technology, India

Kambar, P 2019, A study of rising non-performing asset in the Indian banking sector and its

adverse effects, The research journal of social sciences., India

Kumar, A 2017, A study of effectiveness of recovery channels for the recovery of NPA’s: A

case study on scheduled commercial banks in India, International journal of recent scientific

research, USA

INFLUENCE OF BRANDING AND ADVERTISING ON CUSTOMERS IN 21ST CENTURY

Seema Pundir, (Assistant professor, Mangalmay Institute of Management and Technology, Greater Noida)

Shruti Srivastava(Assistant professor, Mangalmay Institute of Management and Technology, Greater Noida)

Abstract

During the past decade, we have experienced dramatic changes in our world socially, economically and politically. We also experienced major re-engineering of large firms and the evolution from the traditional corporate structure to the virtual corporations. In today’s time a number of media such as television, radio, newspapers, billboards, Internet, films, videos, magazines, movies, music and others are used as marketing weapons to promote their brand and advertise for the product to influence the customers. Among all the marketing weapons, advertising is considered to be the most powerful and influential mode to capture audience’s mind and put a long lasting impact on them. By using various media, the company spreads information about them, influences the consumer awareness of their brand, educates consumers and finally creates a brand image. In such a manner a company can aware its audience about its products or services through advertising. Thus brand advertising has come up as significant tool to influence and mould customers.

The objective of the research paper is to investigate the Influence of advertising and branding in 21st century. The effects of advertising and branding have to be measured and controlled for the future improvement of the content and the approach. This is conceptual paper based on how the branding and advertising is changing our 21st century.

Keywords: Advertising, Branding, Brand advertising, 21st century, Consumer awareness.

I. Introduction

In earlier times, products were produced and then were presented to customers. But with the changing scenario and the globalization, customers are considered as the king in the market. Now proper study is being conducted and then accordingly the customers are selected and targeted. A major factor for this is the impact and influence of mass media onto the people. Among all the mediums, advertising plays a major role. It directly develops a deep connect with the customer and put long lasting impression. Thus it is used as a significant mode. Brand love is defined as a reciprocal, dynamic, multiplex, and purposive relationship between satisfied consumers and their brands, and has three key components: brand intimacy, brand passion, and brand commitment. We examine how rational and emotional advertising affect brand love as well as its components for different products and services.

Brands have existed for decades, they are ubiquitous in today’s marketing landscape and have come to define modern marketing. The 21st century has seen an explosion of branded offering, that present the consumer with an overwhelming amount of choice. The appeal of a brand is greater than it has ever been. When we think of brands, we usually think of the products that we buy (Apple, Coke, Nike), but just about anything can be branded. Marketers have recognised that building and reinforcing the image of their brand is key to growth and profitability. Consumers have an extraordinary amount of choices and those brands that are well known and trusted, create touch points that help consumers to simplify their decision-making process. Over the last five decades, the concept of brands and branding has developed almost out of all recognition. Its importance has not gone unnoticed by pioneers and marketers alike. The importance of brand management has become more relevant in today’s competitive market.

II. literature review

Today a large population can be reached easily through mass communication. The more significant tools under mass communication not only consist of print media but also television, social media, public relations, radio etc. Among them advertising is a marketing communication tool that uses non-personal and sponsored way to convey information regarding a product or service. The major role played by advertising is to create awareness among the audience regarding the product and develop positive notion for the same to turn them into ultimate potential buyers. Consumers now use the expensive and branded products in order to show their status. The brands which are used for showing off the luxury, power and wealth are known as status brands. The wish to have a high status is the factor which compels the people to use brands as status symbol. Brands are consumed to show that the person who used it is highly status conscious, trendy and wealthy and these brands can be categorized as status brands. As the wish increases, the usage of brands increases When branded products are displayed intentionally or shown especially to others for making them realize the power and wealth, by the person who uses them, we can say that it is conspicuous consumption . It means the display of your wealth through the consumption of different brands for just showing the high status is conspicuous consumption and it is a very important dimension of consumer behavior for influencing his behavior towards brands and also the impact and power of branding in influencing and moldings the consumer behavior.

III. Upgradation of technology and its influence on advertising and branding

With the 21st century and expanding globalization, the use of technology has also increased drastically into the market among the marketers. They do not leave a single dimension to attract and capture customers and build long lasting relationship with them. E-commerce and m-commerce have entered into the market with rapid phase and building strong roots. Almost all the products and services can be traced online and information among them can be collected with just a single click. Moreover the purchase and return of products, in case it does not meet the expectations of customer or damaged products can easily be returned without any complexity in the return policy. The technology has helped customers too to trace the shipment of the product to be delivered. These all features have made the life of customers very easy and smooth. Now people have become more brand conscious and feel proud to use different brands for different purpose. Technology is making aware about the product and it is easily available. Marketing is often called "brand building." The emphasis is on creating a better-known, more-authoritative brand. In the past, almost every new brand was launched with a big advertising campaign. In today's media environment, that doesn't work anymore. Advertising is expensive and not very credible, especially when used on behalf of a new brand. We now live in a complex world, characterised by information overload, abundance of choices, hyper stimulation, that forces marketers into a relentless search for newer and newer ways of grabbing the scattered attention of consumers.

However as every coin has two sides, similarly up-gradation of technology has not only lead to favourable circumstances but also adversely affected. A study by Radder, Pietersen, Wang, & Han (2010) reported on the use of software applications by marketers to send SMS advertisements to multiple recipients. This kind of technology limits the scope for customization of the message based on the recipient’s profile and thus adversely influences the attitude of the recipient towards SMS advertising in general (Billore & Sadh, 2015).

IV. Objectives of the study

1. To study the impact of advertising and branding on customers.2. To study the factors that affect buying behaviour of customers with special reference to

advertising and branding.

V. Difference between 20th and 21st century management

There are big differences between centuries in advertising and branding. Customers are more

aware these days and they have more information about the market and technology rather than old centuries. Management in the 20th Century was about achieving a finite goal, delivering goods and services, to make money. Management in the 21st Century is about the infinite goal of delighting customers; the firm makes money, yes, but as a consequence of the delight that it creates for customers, not as the goal. The finite goal of delivering goods and services, in order to make money, was utterly boring and dispiriting, as noted in Gary Hamel’s wonderful blog post here. Because that goal dispirits those doing the work and often frustrates those for whom the work is done, it is inherently unsustainable. The infinite goal of delighting customers is inherently inspiring: helping other people is the essence of moral thinking. It is inherently uplifting for those doing the work, and invigorating to those for whom the work is done. Hence the goal is inherently sustainable.

The 20th Century goal of delivering goods and services so as to make money is a linear goal. It can be accomplished in its entirety. Through economies of scale, “the system” enables it to be done progressively more cheaply. Through outsourcing and downsizing, the economies can be continued, albeit with declining returns. Rules can be put in place. Processes can be established. Structures can be built. Mistakes can be eliminated. If mistakes do occur, people can be blamed and punished. A predictable and reassuringly linear environment can be built. “The system” operates as a closed universe. The customer is a thing to be manipulated (rather than a person with whom the firm has a relationship) to buy the products and services generated by “the system”. Similarly, the employees are treated as "human resources" to be mined and exploited and discarded as necessary. The entire scheme is antipathetic to innovation, because any significant innovation risks de-stabilizing the simple, linear, finite world that has been created. “The system” has become an end in itself. For much of the 20th Century, this worked well enough.

VI. Analysis

A lot has been studied but still a lot has to be studied in context of the above terminologies. Advertising has influenced to great extent the perception of products and services and finally its consumption by the customers. It has developed different ideologies and had tried to fit with the need of people by creating awareness and developing advertisements through out of box approach. Though to develop ideas and execute is a challenging task and has to be done with utmost care so that it reaches the targeted audience affectively and simultaneously do not hurt the sentiments or ideologies of people belonging to different cultures. It has been observed that advertising and branding has puts a great impact on the customers and certainly influences their buying behaviour. Over the years, there has been a significant shift in the world’s most popular social networking sites, and they’ll continue to change as time moves forward. Today, we are under a big and constant transformation of marketing and communication, mainly because of the growth of digital technology and the democratization of access to digital. The 21st-century brand is asked to do a lot more than its predecessors. The 19th-century and pre-war brand simply had to guarantee trust. The post-war brand had to differentiate in a world of new products. The late 20th-century brand had to create an emotional "bond" with its buyers. The 21st-century brand has to do all of these things against greater odds – less trust, less differentiation, more cynicism – and more besides. Think of it as the "Omni brand". And they’re moving: 20th-century brands were static; 21st-century brands are dynamic. In this 21st-century answers, there is an assumption that we live in an "everything is media" world.

VII. Advantage of branding and advertising1. Boosts Awareness and Loyalty

Branding and advertising helps consumers develop a specific image that contains the qualities and characteristics business owners want consumers to associate with their business and its products or services. For example, cartoon images of a happy dog may help a consumer feel more comfortable using a particular pet grooming service.

2. High Profit Margins

Successful branding and advertising normally leads to a strong profit margins. As opposed to low-cost providers who target price-conscious consumers, companies that invest in branding usually focus on quality and service benefits.

3. Long term Emphasis

Branding and advertising is intended to offer a company stability and longevity. By consistently delivering messages about your value proposition and presenting products and services that fulfil those commitments, you assimilate your brand into society and culture. Over the long run, customers tend to migrate toward brands that are easily recognizable and trusted.

VIII. Disadvantage of advertising and branding

1. It's Expensive

One major disadvantage of branding and advertising is the expense. Designing a brand involves significant research, naming development, graphic design and brand identity integration, which aren't cheap. Advertisement of the product is very expensive. If it is more creative it will be more expensive.

2. It's Tough to Change

One of the major benefits of a brand and advertising is that it creates a strong product association for customers. However, this can also be a disadvantage in several situations. If a company wants to change direction with its products or target a new segment of consumers, an established brand can make it difficult to change the image of the company.

3. Expensive to Design

Designing and creating a brand advertisement identity is expensive and time consuming. Brands either delegate the task to their marketing teams or hire consultants who charge by the hour and spend many hours in close consultation with managers before they decide on the brand logotype, colour, typography, sound, motion and other key elements of the brand identity design. Designing of a brand is expensive task .People now a days are more eye catcher than old century. They always look something new in advertisement and brand.

IX. Conclusion

With the 21st century and increased awareness, customers are at the upper hand and have to be continuously pampered and taken care of by the marketers to lead into the competition. This can easily be done if the two major mass-communication tools are effectively managed i.e. advertising and branding. Advertising should properly be designed in such a manner that it provides maximum information, creates awareness about the product or services and do not hurt the sentiments or ideologies of audience. So the process has to be dealt with utmost care so that they do not create chaos for the advertisers and do not pull them into legal trouble.

Managing brands today is a complex practice, whether in large multinational or small family run companies. It requires dedication, meticulousness, teamwork, organization, planning, perseverance and a great deal of passion. At the same time, it requires to count on rather business, design or communications perspectives, while knowing well enough about the product it offers and the industry it participates in. To build a brand and advertise in the 21st century is to find newer ways of integrating it within popular culture by making it synonymous with the lifestyle or interests that it represents. To do this, I believe brands and advertising need to stand for bigger ideas that can influence culture, create communities and lead to unique experiences. I believe a 21st-century brand and advertising is a belief to live by and a 21st-century idea is an ecosystem that spreads that belief. 20th-century brands were static; 21st-century brands are dynamic. In this 21st-century answers, there is an assumption that we live in an "everything is media" world.

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century/

OCULO - TACTICAL MONIKERS IN MANAGERIAL DECISION*

Jyotirmaya Satpathy (Faculty and Post-Doc (Neuromanagement), Academics Department, National Defence Academy, Pune)

Julee S. Banerji(Professor, International School of Management, Patna, India)

Abstract

With five sense organs acting in tandem, globally, humans share organisational sphere and it is possible for them to influence others’ decision processes. Fissure amongst judiciousness - based scrutiny that adopts utility-maximizing proxies and real anthropological comportment has been acknowledged in economics, psychology and management sciences. In recent months, there have been developing attention in shepherding behavioural exploration across interdisciplinary - expanses to address this. In one direction, some perceptions control decision making. In the other, computational tools help appreciate comportment to study behaviour models from user - generated data. Making cogent tactical decisions is a management action. Managers have unique approaches; high uncertainty, ambiguity, time pressure and emotional stress during decision constructing. Globally, traditional management relies on revealed preferences to appreciate desires and predict action underlying circuits leading to decisions. Contemporarily, neuroimaging has transitioned from mapping confined effects to evolving extrapolative models of perceptual events across brain structures that aid a decision. Neuromanagement investigates role of brain for decision making by using tactical monikers (hereafter, NTM) that explain and predict circuit of behaviour in circuit of higher cognitive functions. Research reveals neural basis of decision to provide for predilections that form representation of preferences. Globally, this opens direction for experimental investigation in NTM management by satisfying well - defined axioms. In this paper, NTM computing techniques have been integrated to explain neural basis of managerial decision - making. Aim is to extant outline tools for neuro - decisional undercurrents. Paper derives inspiration to investigate, develop and contribute to this turf by conveying research questions and applications into perspective of complexity and decision making. Objective is to screen methodical NTM circuits by examining theoretic contexts and empirical methods regardless of variations. In empirical part, NTM computations (with reference to ocular movements) illustrate integration of behavioural and biological models. In empirical part, questionnaire was circulated amongst tactical - oriented managers in uncertainty - menacing world. Data collection was conducted using a single - phase process. For eye - movements’ clinical tests, one (01) volunteer respondent (single - subject) was chosen. To advance scholarship, globally, of anthropoid and behavioural magnitudes of managership purpose is to establish that NTM trading has contributory stimulus on decisions. Results provide indication for spontaneous counterfactual replication in province of high - level reasoning. Major finding is that tactical - oriented managers’ deals with risks and uncertainties, attempt to decide, create options, address potential responses to circuit problems and evaluate strengths and weaknesses of each prospective circuit action using ocular movement - based NTM medium.

Key Words : Neuro - Tactical Monikers, Uncertainty, Decision Circuit and Ocular Movement - based NTM.

• Part of an ongoing research project by the first author at NTNU Uniersity, Taipei, Taiwan

• Part of an on going research project undertaken by the

Introduction : There was a phase of academic evolution when philosophers canned science as means of gathering truth or ‘defensible’ belief. Its central inquiry was how it achieved this consequence and what distinguished it from more unenlightened humanoid performs. There is a stretched convention of traditions about

eye movements before their quantification was conceivable. Evolution in multisensory know-hows designates that cardinal milieus will involve sanities and become intersected with real world. It is a well – documented dictum that the five senses of the human body are capable of working in tandem to contribute towards the decision processes; conceived, calculated, estimated, implemented, observed, mid - course corrections initiated, results inferred, algorithms spread out and finally, a decision is accepted / deferred / rejected. With five sense organs acting in tandem, globally, humans share organisational sphere and it is possible for them to influence others’ decision processes. Fissure amongst judiciousness - based scrutiny that adopts utility-maximizing proxies and real anthropological comportment has been acknowledged in economics, psychology and management sciences. In recent months, there have been developing attention in shepherding behavioural exploration across interdisciplinary - expanses to address this. In one direction, some perceptions control decision making. In the other, computational tools help appreciate comportment to study behaviour models from user - generated data. Making cogent tactical decisions is a management action. Managers have unique approaches; high uncertainty, ambiguity, time pressure and emotional stress during decision constructing. Globally, traditional management relies on revealed preferences to appreciate desires and predict action underlying circuits leading to decisions. Contemporarily, neuroimaging has transitioned from mapping confined effects to evolving extrapolative models of perceptual events across brain structures that aid a decision. The question before the academic community is; how multisensory technologies and sensory inputs can affect perception, sensitivity, discernment, judgment, decision and behaviour? How to bridge any gap and find a good balance? To cap the argument; how realistic should the multisensory experience be? The issue is of synergy or ‘Ubuntu’ in this situation.

Eye Tracking Records of eye movements show that observer's attention is usually held by certain elements of a picture. In

simple layman’s terminology and interpretation, eye tracking is tracking of the eye(s). Eye tracking is the dynamics of assigning graduation scales to measure the ‘point of gaze’ (where one is looking) or ‘motion’ of eye relative to head. Geometrically, eye tracking is with reference to the refraction or alteration and reflection or replication of images, objects and scenes vis - a - vis the pair of eyes. Visual patterns are advanced on basis of understanding brain’s and eye’s functions. They banquet over calculation, situation depiction, independent strategies, data exhibition, and software / hardware methods. Can the pair of eyes depict whether we are on the right path towards a rational decision? The answer swings between ‘perhaps yes’ to ‘definitely yes’. This not only debilitating neuro-ophthalmological concerns but evaluate brain function to help narrow differential diagnosis of complex neuro decisional problems as biomarkers to monitor cornerstone of ocular responses.

Reviews: Prof Eileen Kowler of Rutgers University (USA) is considered to be a champion researcher in the field of Oculo –- Tactical Monikers. Prof Eileen has worked and contributed on anticipatory smooth pursuit eye movements evoked by probabilistic cue, features of legible manipulator paths, importance of prediction and anticipation in the control of smooth pursuit eye movements, timing of saccadic eye movements during visual search for multiple targets, eye movements while viewing narrated, captioned, and silent videos, ole of pre-saccadic shifts of attention in perception, memory and the control of saccades, role of part structure in the perceptual localization of a shape and role of eye movements in decision estimates. Prof Eileen is of the view that any such research is based on emphasis is on three oculomotor behaviors: gaze control, smooth pursuit and saccades, and on their interactions with vision. Her research revolves around; What are the mechanisms that keep gaze stable with either stationary or moving targets? How does the motion of the image on the retina affect vision? Where do we look, and why, when performing a complex task? How can the world appear clear and stable despite continual movements of the eyes?

Prof Jacob Orquin of Aarhus University (Denmark) has contributed on attention and choice, eye movements in decision making, theoretical predictions concerning role of attention in decision making. Prof Jacob has examined and contributed four decision theories: rational models, bounded rationality, evidence accumulation and parallel constraint satisfaction models. Although most theories are confirmed with regard to predictions, several observations emerge concerning drivers and effects of attention on choice, suggesting that attention processes plays an active role in signal detection problem in behavioral eye‐tracking research. Professor Jacob opines that surge in eye tracking research has not, however, been equaled by growth in methodological awareness and practices that are best avoided have become commonplace.

Dr Jyotirmaya Satpathy, in a paper titled Exploration on eye movements in managerial decision has extended from managerial decision behaviourist approach to cognitive approach that focuses on decision processes that ensue prior to response. In neural computational simulations, each Managerial decision during decision task is represented by node of neural activity. Decision related neural activity has components of intensification of activity and decision inception for neural activity to overcome for decision to be completed. One way to investigate computational Managerial decision making is to scan positioning of managerial decision behaviour leading to judgment point. Eye movements are central measure of managerial decision. Eye movements are indissolubly linked to optical consideration as both are prime tools for choosing stimulating shares of chromatic prospects for enriched perceptual and rational processing. Investigating eye movements is expedient in providing evidence of orientation of managerial decision. Role of eye movements, intentional or reflex, help in gaining, possessing and tracing visual inducements, during Managerial decision formation is not entirely clear. Current proof suggests that orientation of eye movement itself may not be an essential constituent. Rather, it can be as a result of intensification in contact to incitement as an e influential factor in Managerial decision formation. Author has reviewed experiential studies that employ eye movement monitoring as process tracing and tracking method with gazing in Managerial decision-making research. Using Kowlerian Model, we present an investigation that explains experimental methods and analysis with contemporary eye tracking savoir-faire. This paper countenances a specific hypothesis about role of eye movements in managerial decision; understanding how eye movements are premeditated, carried out notwithstanding recurrent vicissitudes in optical assortment that eye movement harvest. One major effort is understanding how should Mmanagers’ decide, deal with risks and uncertainties, create options better than originally available, potential responses to problems and evaluate strengths and weaknesses of each prospective action using apparatus of eye tracking/tracing and gazing.

Methodology

Neuromanagement investigates role of brain for decision making by using tactical monikers (hereafter, NTM) that explain and predict circuit of behaviour in circuit of higher cognitive functions. Research reveals neural basis of decision to provide for predilections that form representation of preferences. Globally, this opens direction for experimental investigation in NTM management by satisfying well - defined axioms. In this paper, NTM computing techniques have been integrated to explain neural basis of managerial decision - making. Aim is to extant outline tools for neuro - decisional undercurrents. Paper derives inspiration to investigate, develop and contribute to this turf by conveying research questions and applications into perspective of complexity and decision making. Objective is to screen methodical NTM circuits by examining theoretic contexts and empirical methods regardless of variations. In empirical part, NTM computations (with reference to ocular movements) illustrate integration of behavioural and biological models. In empirical part, questionnaire was circulated amongst tactical - oriented managers in uncertainty - menacing world. Data collection was conducted using a single - phase process. For eye - movements’ clinical tests, one (01) volunteer respondent (single - subject) was chosen. To advance scholarship, globally, of anthropoid and behavioural magnitudes of managership purpose is to establish that NTM trading has contributory stimulus on decisions. Results provide indication for spontaneous

counterfactual replication in province of high - level reasoning. Major finding is that tactical - oriented managers’ deals with risks and uncertainties, attempt to decide, create options, address potential responses to circuit problems and evaluate strengths and weaknesses of each prospective circuit action using ocular movement - based NTM medium.

Managerial Perspicacity: The right decision today may be the wrong decision tomorrow. We live in a world in which expectations, contingencies, and goals continually evolve and change. Thus, decisions do not occur in isolation but rather are tightly embedded in these streams of temporal dependencies. Accordingly, even relatively straightforward visual decisions must take into account not just the immediate sensory input but also past experiences and future goals and expectations. Thanks to the work of the early 20th Century Gestalt psychologists, we know that the brain’s response to images is extremely complex, and in many cases nearly instantaneous. The process seems semi-magical and therefore untrustworthy. How something so complex could happens so fast? How can we trust the results of a process we do not thoroughly understand? Research confirms that users make aesthetic decisions about the overall visual impression of web pages in as little as 50 milliseconds (1/20th of a second). These instant visceral reactions to web pages happen in virtually all users, are consistent over visit length, and strongly influence the user’s sense of trust in the information. In short, users have made fundamental, consistent, and lasting aesthetic decisions about the credibility and authority of sites before major eye tracking events begin (Satpathy and Saylee: 2016).

In managerial ‘intended’ decision-making models; first, Managers must ascertain ‘intended’ decision to be made, which needs to be convoluted in ‘intended’ decision process, timeline for ‘intended’ decision and areas or upshots to be achieved. Second, Managers endeavour to identify as many substitutes as conceivable. Alternatives are scrutinised in step three . In step four, substitutions are rank ordered on basis of analysis in step three so that a choice can be attempted. In step five, strategy is engendered to implement appropriate options or combinations of choices. In the final step, experiments to

efficacious operation of preferred options are acknowledged and stratagems are established to cope those threats (Satpathy and Saylee: 2016).

. Assessment is conducted of practice and consequence criteria, with effect benchmarks characteristically replicating ‘intended’ decision - warranting cases in rung one (Satpathy and Mallik; 2017).

Managerial ‘intended’ decision-making is an expanse of penetrating scholarship in neuromanagement and rational neuroscience. Effective management is a result of persistent efforts in multiple dimensions be it the formulation of strategies or the smooth functioning of day-to-day activities (Satpathy; 2015). There is significant preponderance in espousal of perceptions grounded on physiognomies in exploration into Managerial ‘intended’ decision dynamics. Why does ‘intended’ decision making differ among Managers? How should Manager idyllically make ‘intended’ decisions? How can we help Manager making better (not necessarily ideal) ‘intended’ decisions while still compelling into account humanoid cognitive precincts? How do we make human ‘intended’ decisions? Are foundations for these ‘intended’ decisions continually time-honored in reason? How brain (via. eyes) absorbs data, recognises and frames challenging circumstances and selects apposite responses (Satpathy and Saylee: 2016). Brain (via. eyes) structures suggest that brain (via. eyes) considers countless bases of information before making ‘intended’ decision. Brain (via. eyes) imaging expertise have inspired neuro (managerial) studies of core order of attention and its relations with bandwidth of hominoid ‘intended’ decisions. How is (managerial) ‘intended’ decision making processes carried out in brain (via. eyes)? What are the limits of understanding thinking as a form of computing? How does previous experience alter Managerial ‘intended’ decision behaviour? What happens in brain (via. eyes) or is activated when Managers make ‘intended’ decisions or are in process of making ‘intended’ decisions? Is study of ‘intended’ decision-making via neuromanagement processes significant for Managers? How is a 'fair ‘intended’ decision' appraised by brain (via. eyes)? Is it

possible (Satpathy and Mallik; 2017) today to predict ‘intended’ decision intents? Can we moderate managerial behaviour affecting brain (via. eyes) (Satpathy and Saylee: 2016).

How do observations of other people’s behavior shape our decision-making? How do other people’s preferences influence the subjective value of an action or object? How do we decide that someone else has good information? What are the neural and pharmacological substrates of these effects? People have always been curious about how the eye moves. We have long appreciated eye movements to be lawful and rule-governed, and interactive with vision and cognition. The models and rules have gotten more complex over the past 25 years, but in a sense things have gotten simpler because we know much more about what eye movements accomplish and how they work, and we have better tools (experimental and computational) to study them (Kowler; 2010). Visual cognition, high-level vision, mid-level vision and top-down processing all refer to decision-based scene analyses that combine prior knowledge with retinal input to generate representations. The label ‘visual cognition’ is little used at present, but research and experiments on mid- and high-level, inference-based vision have flourished, becoming in the 21st century a significant, if often understated part, of current vision research. How does visual cognition work? What are its moving parts? Many Managers seek material than required thus triggering ‘delay’ because of time essential to process information. This spoils efficacy of ‘intended’ decision. In this state, neuromanagement seeks to explicate ‘intended’ decision-making, ability to process multiple alternatives and choose optimal course of action. It studies how management Managerial ‘intended’ decision behaviour shape understanding of brain (via. eyes) and monitor models of management (Satpathy and Saylee: 2016). What are the coherent brain (via. eyes) dynamics underlying prediction, control and ‘intended’ decision making? Conjectural explanations posit that human brain (via. eyes) accomplishes this through neural computations. Deciphering such transactions necessitate understanding of neuro processes that implement value-dependent ‘intended’ decision making. This leads to formulation of a ‘neuro-management ‘intended’ decision making paradox’. The goal is a guestimation of how brain (via. eyes) implements ‘intended’ decisions that is tied to Managerial ‘intended’ decision behaviour (Satpathy and Mallik; 2017).

Imaging: Imaging is a vital facet of vibrant competences and there is a cumulative quantum of signal as to how evolutionary configurations are shaped. Contributions of cognition inquiry to managerial ‘intended’ decision strategy process research, key experiments of strategy process, drill - research, how cognition research could be applied to improve, promising intersections of research streams are some exciting (future) boulevards to explore. There are yet unsolved problems in (managerial) cognition, even though several of these have evidence supporting hypothesised solution (Satpathy; 2015). What are the general implications of neuro (managerial) management? There are unsolved issues; how does Manager decide in a state of indecisiveness, Risk and Probability? How does Manager decide in state of VUCA (Vulnerability, Uncertainty, Complexity and Ambiguity)? How do we make ‘intended’ decisions? How does human brain (via. eyes) compute and represent abstract ideas? What counts as explanation of how brain (via. eyes) works (what are function, algorithm and implementation)? Accepting that functional reasonableness cannot be accomplished (Satpathy and Mallik; 2017), verdures ‘intended’ decision-makers with another judgment: what to do next?

Managers are transformation proxies, not just ‘intended’ decision makers. Consequently, steps before and after a ‘intended’ decision are as important as concrete choice of action. Preliminary steps embrace crafting rigidity for change, understanding positions of various constituencies and developing support for chosen action. Steps after ‘intended’ decision include naming change monitor and ascertaining monitoring methods. Therefore, mission of good information system is broader than just collecting data to make choice. Designers of evidence systems must understand not only how Managers think but how ‘intended’ decision process will be implemented in Manager’s environment (Satpathy and Saylee: 2016). Manager should develop methodical, logical approach to problem solving that begins with static goal and ends with evaluation. Over - choice occurs when many equivalent choices are available. Managerial ‘intended’ decision choice involves mentally making an ‘intended’ decision, judging merits of multiple options and selecting one or more of them.

When choosing amongst options, Managers must make judgments about quality of each attribute. Evaluability causes ‘intended’ decision reversals between shared and distinct valuations. Finest tactic to improve ‘intended’ decision making is to admit that ‘intended’ decisions are not prepared in analytical steps (Satpathy and Saylee: 2016). Studies in neurohuman management focus on how managerial ‘intended’ decision behaviour contrast when choice set size (number of choices to choose from) is low contrasted with when high. These points towards ‘intended’ decision chronicling as technique for ‘intended’ decisions (Satpathy and Mallik; 2017).

Eye Tracking Methodologies: Since development of eye tracking methodologies, researchers have been able to get prevue into cerebral processes involved with performing task (making ‘intended’ decision). The advantage is that they consent to go beyond studying consequence of task (choice) and monitor progression through which Manager goes about making a choice. Because where someone is looking and what they are paying Managerial (attention) are securely joined (there is an eye-mind link), researchers track ‘intended’ decision maker’s (attention) throughout a trial (Satpathy and Saylee: 2016). With this evidence, they can examine classification with which ‘intended’ decision maker samples data about ‘intended’ decision options and duration of time spent making allowance for them. These methods will be useful in adjudicating between contradictory models with divergent accounts. Eye tracking methods are not a cure-all and restricted in capacity to support inferences about ‘intended’ decision-making (Satpathy and Mallik; 2017).

This paper does not purport to report findings that are universally and eternally applicable, nor grounded firmly in theoretical or empirical research. It submits to a conjectural puzzle (Meta - explicandum?). It does not address single, well-defined issue, sharply focused on particular disciplinary topic. Instead, it reports on exploratory inquiries, whose coalescing leitmotif is class of real-world complications. The abstract views are based on gaps or inadequacies in scientific canon that can be formulated as questions to pursue where elucidations may lie.

Aim

Role of eye movements during managerial ‘intended’ decision construction is not entirely clear. In neural computational simulations of managerial ‘intended’ decision making, preference in judgment task is epitomised by corresponding protuberance of neural bustle. This activity has two idiosyncratic apparatuses: intensification of action and ‘intended’ decision inception for action to overcome in order for choice to be made. A technique to review is to scan orientation of behaviour leading up to ‘intended’ decision point. Investigating eye movements is expedient in providing substantiation of ‘intended’ decision positioning of managerial behaviour replicating computational ‘intended’ decision. Eye movements reproduce escalatory ‘intended’ decision significance, leading to gaze chute in which eye movements dynamically feed value of individual opportunities. Intention of this paper is to shadow preceding suppositions that eye movements have causative stimulus on managerial ‘intended’ decision formation (Satpathy and Mallik; 2017).

Data Analysis

Making decisions is a basic human activity. It plays such a vital role in the work of managers that some authors equate decision making with management. Due to its importance, over the years, different methods, designed to support decision-making process, were developed and used. It is especially vital in modern times that are described as fluid managerial decision scenario - mix of volatility, uncertainty, complexity and ambiguity. There are many unresolved problems in that field, for example how Managers decide in state of fluid managerial

decision scenario, without having adequate information. In the context of this kind of research, the cognitive neuroscience techniques can be very helpful. They can be used to explain neural basis of decision-making and examine unconscious processes that are carried out in decision’s maker brain.

As an introduction, neuro - management parallels cognitive science and has bridged contrasting fields of management, psychology and neuro - managerial science with aim of providing single theory of managerial behaviour in managing creative organization. Herein, consilience operates tools for modelling behaviour to understand processes that connect neuro - mechanisms by which managers decide for managing creative organization. Neuro-optometric findings pose challenge to standard management perspective by questioning as how managers craft decisions for managing creative organizations (Satpathy and Saylee: 2016). Different disciplines approach through characteristically different techniques. Neuro-optometric decision making has emerged as an inter-disciplinary effort to bridge this gap. Integration offers exciting potential for deciphering neuro-optometric decision transactions through mechanistic understandings of neuromanagerial processes and neural computations (Satpathy and Saylee: 2016). How to handle brains behind businesses in age of dramatic change and growing uncertainty? What are the coherent dynamics underlying prediction, control and decision-making? Problem statement is that, in eye simulations, decision is represented by spots of neural activity linked to stimulating prospects for rational processing that help in gaining, possessing and tracing managerial decision formation replicating computational decision formation (Satpathy and Saylee: 2016).

A TOTAL NUMBER OF 01 (N = 01) SUBJECTS WAS CHOSEN FOR THE STUDY.

Blood Pressure Monikers

General passage of blood provides functional supply to all body tissues. It transmits oxygen to cells and picks up carbon dioxide and waste products. Systemic circulation carries oxygenated blood from left ventricle, through arteries, to capillaries in tissues of body. Blood carries oxygen to the brain. This oxygen nourishes neurons. Brain establishes an algorithm of costs and benefits when arranging a matrix for decision dynamics.

Brain depends on blood supply to function properly. However, high blood pressure causes several problems to the brain thereby impairing decision processes. It is detected that all the respondents who reported with case of hypertension were in the High-risk category. The male and female respondents I the age bracket of 25 – 40 years suffered the most. This is presumably due to professional pressures. This can be attributed to the race in the subjection world to achieve targets, milestones and keep pace with globalisation. Respondents with case of hypertension reported that the pressure to achieve targets was taking a toll on their cognitive ability. Due to hypertension, they reportedly have muscular pains, giddiness, headache, migraine, muscular - skeletal ache and related symptoms. All these added to their state of absenteeism or presenteeism. The bottom line is that their efficiency and effectiveness declined considerably and were unable to match their potential competency.

BLOOD PRESSURE MONIKERS

Recommended Detected Remark121 +/- 2/ 82 +/- 2 134 / 99 Highest125 +/- 4/ 83 +/- 2 132 / 95 High121 +/- 2/ 82 +/- 2 130 / 85 High121 +/- 2/ 82 +/- 2 132 / 98 Highest125 +/- 4/ 83 +/- 2 132 / 97 High131 +/- 4/ 87 +/- 2 130 / 86 High

(Figures have been averaged to their round - figure)

Hematological Monikers

CUMULATIVE DATA

ABNORMAL OBSERVATIONS

RESULT RESULT RESULT

Blood Sugar Fasting 50 mg / dl 51 mg / dl 54 mg / dlBlood Sugar Post - Prandial 150 mg / dl 107 mg / dl 153 mg / dlBlood Sugar Random 199 mg / dl 213 mg / dl 196 mg / dlUrea 41 mg / dl 49 mg / dl 35 mg / dlCreatine 0.3 mg / dl 1.6 mg / dl 1.9 mg / dlSodium 148 mEq / L 147 mEq / L 147 mEq / LPotassium 3.1 mEq / L 5.7 mEq / L 5.9 mEq / LLipid T - Cholesterol 213 mg / dl 219 mg / dl 224 mg / dlLipid Tri - Glyceride 154 mg / dl 111 mg / dl 156 mg / dlLow Density Lipo Protein 132 mg / dl 139 mg / dl 139 mg / dlVery Low Density Lipo Protein 39 mg / dl 44 mg / dl 44 mg / dlHigh Density Lipo Protein 64 mg / dl 68 mg / dl 63 mg / dlS Bilirubin Total 1.9 mg / dl 1.7 mg / dl 1.5 mg / dl

S Bilirubin Direct 0. 8 mg / dl 0.4 mg / dl 0.4 mg / dlS Bilirubin Indirect 1.4 mg / dl 1.4 mg / dl 1.4 mg / dlAspartate Trans Amines (AST) 44 IU / L 42 IU / L 41 IU / L

Alanine Trans Amines (ALT) 43 IU / L 49 IU / L 43 IU / L

Creatine Phosphate K 31 41 38CPK - Muscular / Brain 27 36 31GGT 12 IU / L 21 IU / L 21 IU / LT - Protein 7.3 g / dl 6.9 g / dl 8.4 g / dlAlbumin 5.9 g / dl 5. 6 g / dl 5.7 g / dlGlobulin 3.9 g / dl 3.2 g / dl 3.7 g / dl

INVESTIGATIONRESULT RESULT RESULT

Blood Sugar Fasting 56 mg / dl 52 mg / dl 47 mg / dlBlood Sugar Post - Prandial 132 mg / dl 159 mg / dl 178 mg / dl

Blood Sugar Random 194 mg / dl 198 mg / dl 190 mg / dl

Urea 42 mg / dl 56 mg / dl 44 mg / dlCreatine 1.4 mg / dl 1.6 mg / dl 1.4 mg / dlSodium 151 mEq / L 151 mEq / L 145 mEq / LPotassium 5.1 mEq / L 5.2 mEq / L 5.1 mEq / LLipid T - Cholesterol 192 mg / dl 179 mg / dl 178 mg / dl

Lipid Tri - Glyceride 162 mg / dl 171 mg / dl 148 mg / dlLow Density Lipo Protein 176 mg / dl 165 mg / dl 156 mg / dlVery Low Density Lipo Protein 82 mg / dl 42 mg / dl 34 mg / dl

High Density Lipo Protein 63 mg / dl 51 mg / dl 69 mg / dl

S Bilirubin Total 1.7 mg / dl 1.4 mg / dl 1.3 mg / dl

S Bilirubin Direct 1.1 mg / dl 0.4 mg / dl 3.1 mg / dl

S Bilirubin Indirect 1.4 mg / dl 1.4 mg / dl 2.3 mg / dl

Aspartate Trans Amines (AST) 42 IU / L 42 IU / L 44 IU / L

Alanine Trans Amines (ALT) 41 IU / L 41 IU / L 43 IU / LCreatine Phosphate K 47 47 45CPK - Muscular / Brain 28 29 34GGT 23 IU / L 12 IU / L 12 IU / LT - Protein 9 g / dl 9 g / dl 8.9 g / dlAlbumin 5.1 g / dl 5.6 g / dl 5.2 g / dl

Globulin 3.6 g / dl 3.9 g / dl 3.6 g / dl

Observations

To provide a fundamental basis for understanding decision-making and decision confidence, we analysed blood samples concurrently with a decision - testing questionnaire was served to each subject. The sample was of those respondents with standing history of hypertension and was selected based on previous poor blood pressure control. It is detected that almost all the Hematological Monikers in the above table(s) reflect disturbing trends. Based on clinical tests, it is inferred that; Decision making potential is bad when;

• Blood sugar fasting readings are detected as ‘abnormal’.

• Blood sugar post – prandial readings are detected as ‘abnormal’.

• Blood sugar random readings are detected as ‘abnormal’.

• Urea readings are detected as ‘abnormal’.

• Creatine readings are detected as ‘abnormal’.

• Sodium readings are detected as ‘abnormal’.

• Potassium readings are detected as ‘abnormal’.

• S bilirubin direct readings are detected as ‘abnormal’.

• S bilirubin indirect readings are detected as ‘abnormal’.

• Aspartate trans amines AST readings are detected as ‘abnormal’.

• Alanine trans amines alt readings are detected as ‘abnormal’.

• Lipid T - cholesterol readings are detected as ‘abnormal’.

• Lipid tri - glyceride readings are detected as ‘abnormal’.

• Low-density lipo protein readings are detected as ‘abnormal’.

• Very low-density lipo protein readings are detected as ‘abnormal’.

• High density lipo protein readings are detected as ‘abnormal’.

• S bilirubin total readings are detected as ‘abnormal’.

• Creatine Phosphate K readings are detected as ‘abnormal’.

• CPK - muscular / brain readings are detected as ‘abnormal’.

• GGT readings are detected as ‘abnormal’.

• T - Protein readings are detected as ‘abnormal’.

• Albumin readings are detected as ‘abnormal’.

• Globulin readings are detected as ‘ abnormal’.

• A: G ratio readings are detected as ‘abnormal’.

EYE TRACKING IMAGES

“ Emphasis is on gaze control, smooth pursuit and saccades, and on their interactions with vision. Focus over the past 25 years has remained on the fundamental and classical questions: What are the mechanisms that keep gaze stable with either stationary or moving targets. How does the motion of the image on the retina affect vision? Where do we look – and why – when performing a complex task? How can the world appear clear and stable despite continual movements of the eyes? The past 25 years of investigation of these questions has seen progress and transformations at all levels due to new approaches (behavioral, neural and theoretical) aimed at studying how eye movements cope with real-world visual and cognitive demands. The work has led to a better understanding of how prediction, learning and attention work with sensory signals to contribute to the effective operation of eye movements in visually rich environments” (Eileen Kowler).

Courtesy: Prof Kowler (Rutgers University, USA)

‘Inferential’ data from each subject were analysed independently. Error rates were quite low. Even with MSS (memory set size) of 100 objects, Observations were correct (85%) of the time. There was a main effect of both presence of target item and MSS on response accuracy: target presence, F (1, 12) = 31.18, p < 0.001, generalised eta squared (g-η2), a measure of effect size) = 0.25; MSS, F (1.44, 18.85) = 88.80, p < 0.001, g-η2 = 0.51, and the two factors interacted significantly, F (1.47, 19.30) = 23.77, p < 0.001, g-η2 = 0.04. Real time ‘inferential’ data on correct references follow same pattern of large main effects for both factors: target presence, F (1, 12) = 28.71, p < 0.001, g-η2 = 0.24; MSS, F (1.37, 17.88) = 83.81, p < 0.001, g-η2 = 0.51, and substantial interaction between the two, F (2.46, 31.94) = 24.26, p < 0.001, g-η2 = 0.04. Slope was significantly influenced by target presence, F (1, 12) = 37.25, p < 0.001, g-η2 = 0.27. In addition, there was significant effect of MSS on search slope, F (1.33, 17.47) = 45.43, p < 0.001, g-η2 = 0.45. In sum, behavioural results are in strong agreement with previous work. There was a significant effect of target presence (all F values > 7, p < 0.04) on all measures except dwell time on fixated distractors, F (1, 12) = 2.00, p = 0.17, g-η2 = 0.01. In all cases, two factors interacted such that the effect of target presence became larger as MSS increased (all Fs > 5, all ps< 0.004). percentage of distractors fixated on absent references increases significantly from an average of 22% per O per reference to 72% as MSS increases from one to 100 items, F(1.74, 22.87) = 56.9, p < 0.001, g-η2 = 0.55. Dwell time on each distractor increased from 52 to 290 ms, F (1.24, 16.23) = 27.97, p < 0.001, g-η2 = 0.36. This result replicates if we restrict analysis to only distractors that were fixated, F (1.27, 16.57) = 13.55, p < 0.004, g-η2 = 0.23. Total fixations per item on absent references rose from 0.26 with one item in memory to 1.27 with 100 items in memory, F (1.26, 16.32) = 29.23, p < 0.001, g-η2 = 0.36. Fixations could be evaluated in different ways depending on context and objective of the study. During processing of neuro - ocular scene, individuals moved eyes to relevant features in that scene. Some features were primarily detected by peripheral area. Based on this, it can be inferred that, ‘entrepreneurial choice making is unswervingly inter - oriented to instantaneous accessibility, and effortlessness of analysis of pertinent ‘material’ evidence’ (Satpathy’ 2019).

Research Gaps

The world is intersected on all possible levels. Increasing competition, globalisation, technological changes, economic upheavals, political uncertainty, changing workforce demographics and other factors are forcing to adopt complexity of business decision-making methodology. Several managers are currently operating with tired, outdated business decision-making models they often do not know about it. Why managers cannot change business decision apparatus? Modern neurobiological inquiry of business decision making took off around the turn of this century. Potential for cognitive neuroscience to shed light on business decision behaviour is accredited. Developments, through 21st Century, provide understanding of human brain and eye(s) and behaviour that is of importance and application in business decision dynamics. Complex human cognition, such as business decision-making, is reflected in dynamic spatiotemporal activity in brain and eye(s). Study of brain and eye(s) and its processes is starting to provide underlying insights applied in real - world and enhance effectiveness of human business decision making. In magnitude, there is a historical shift in understanding human business decision behaviour.

What are the observations of competitive advantage? How does business decision identity form on individual, team and organisational level? How do stability and change relate to business decision - identity? What alternative identities and identification targets play a role in business decision - phenomena? As a fresh field, organisational - brain and eye(s) sciences probe neural underpinnings of business decision - behaviour that has generated provocative and perplexing data. Several organisations are starting to apply the understanding of brain and eye(s) to promote dynamism in pursuit of optimal business decisions. Simulation is a powerful tool that provides important insights about relationship structure-function of brain and eye(s). Nonetheless, as it is necessary to simplify brain and eye(s) structure and dynamics, scope of findings has limitations (Satpathy, et.al. 2017).

Common misconception is that business decisions are made in isolation: gather information, explore alternatives and make a business decision. In recent literature, several authors argue that by adopting interdisciplinary approach to the analysis of decision making, researchers to construct predictive and explanatorily superior models. However, most remain reluctant to import biological or neural insights into account of choice behaviour. One reason for gap is ‘complexity of interactions’ involved. Fact is business decisions are made in context of other business decisions. Metaphor used is of ‘stream’. There is a ‘stream of business decisions’ surrounding any given business decision.

By linking choice data and decision processes, there is an acute need to understanding the neurophysiological drivers that underlie behaviour and decision making. Focus can center on attempts that link behaviour to response times, neural activity (EEG or fMRI), gaze patterns (eye tracking), or click patterns (Mouselab). There is a call for investigating underlying mechanisms of decision processes by means of fundamental tools from economics, psychology, neuroscience, mathematics, and statistics (including formal modeling). Research within prescriptive stream captures elements of normative and prescriptive stream. Prescriptive research is concerned with: How can we help managers making better (not necessarily ideal) business decisions while still taking into account cognitive limitations?

Issues for Further Research

Survey of interactions in managerial decision making lead to the following;

• What reciprocal relationships exist between cognitive and affective processes?

• What neurobiological underpinnings exist in above interactions?

• How does emotional valence of information affect?

• How emotional factors influence judgements and preference?

• How relationships between cognitive and emotional influence business decision?

• To what degree can these be explained in underlying neurobiological systems?

• What neuroemotional and computational capture interactions of cognition and emotion?

Survey of interactions between manager differences in managerial decision making lead to the following;

• What psycho - neurobiological processes distinguish expert business decision - making?

• How do managerial differences affect business decision - making?

• How do motivational state and goal orientation influence business decision - making?

• What neurobiological systems support different motivational states?

• How does proficiency affect business decision - making?

• Are low proficient managers more likely to use intuitive rather than analytical processing?

• How consistent are discount rates for intertemporal business decision?

• What are the pathways by which business decision processes are influenced by biology?

• How do situational factors direct development of business decision making capacities?

• How does business decision making influence neural processes?

Conclusion

The conclusion drawn is that when the blood parameters are abnormal, then the decision making potential is bad. As regards advocacy for eye research in decision-making is concerned, what are the mechanisms that keep gaze stable with either stationary or moving targets? How does motion of (subject) cognitive image on retina affect vision? Where do (subjets) look - and why - when performing complex (subject) task? How can the world appear clear and stable despite continual movements of (subject) eyes? (Subject) Cognitive processes driving eye movements during (subject) decision-making are not in any consequential way different from those in similar tasks. (Subject) Eye movements in (subject) decision-making are partially driven by (subject) task demands. Eye movements in (subject) decision-making are partially driven by stimulus properties that bias (subject) information uptake in favour of visually salient stimuli. Eye movements do not have causal effect on (subject) preference formation. However, through properties inherent to visual system, such as stimulus-driven attention, (subject) eye movements do lead to down-stream effects on (subject) decision-making. Decision subjets optimise eye movements to reduce demand on (subject) memory and reduce number of fixations and length of saccades needed to complete (subject) decision task. Drivers of eye movements in (subject) decision-making change dynamically within tasks (Orquin and Loose; 2013). Attention should be paid for performing experimental procedures in order to evaluate usability, accuracy and reliability of eye tracking systems. Any (subject decision) model that aims to describe (subject) decision-making must reflect that visual information play central role in subject decision dynamics.

References

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INVESTMENT & GROWTH IN INDIAN PHARMACEUTICAL COMPANIES

Shazia Shaheen(Research Scholar, TMBU Bhagalpur)

Abstract

India is the fastest growing market in the world regarding investment and growth of pharmaceutical industries. The Indian pharmaceutical industry currently tops the charts amongst India’s knowledge-based industries. India enjoys an important position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers who have the potential to steer the industry ahead to an even higher level. Recently, over 80 per cent of the antiretroviral drugs used globally to combat AIDS are supplied by Indian pharmaceutical firms. It has a large socio-economic relevance to Indian economy. Indian pharmaceutical has competitive edge over other countries in term of price. Hence in the coming years India will be largest producer of generic drugs in the African subcontinent. It is a great opportunity to Indian pharmaceutical companies to enhance their business in developing nation. According to the report of McKinsey from a market size of USD 12.6 billion in 2009, the Indian pharmaceutical market will grow to USD 55 billion by 2020, with the potential to reach USD 70 billion in an aggressive growth scenario. They identified eleven drivers of growth grouped under four dimensions. The growth of Indian pharmaceutical is totally based on the socioeconomic conditions of people .The conclusion drawn from the context of investment and growth in the pharmaceutical industries of India is the win-win approach.

Keywords: socio-economic, win-win approach, competitive edge, AIDS

I. On the path of the next level of growth

India is among the leading global producers of cost-effective generic medicines and vaccines,

supplying 20 percent of the total global demand by volume. Each day new players are entering into

the market to tap the potential of growing market. The mega trend of investment in the research

and development is the major driving force in of developing this sector.

India has an established domestic pharmaceutical industry, with a strong maze of 3000 drug

companies and about 10,500 manufacturing units which is really a good job for a developing

nation.

Out of these, 1,400 units are World Health Organization (WHO) good manufacturing practice

(GMP) approved; 1,105 have Europe’s certificate of suitability (CEPs); more than 950 match

therapeutic goods administration (TGA) guidelines; and 584 sites are approved by the US Food

and Drug Administration (USFDA).

The Indian Pharmaceuticals company producing a variety of drugs in bulk, which are the key acting

ingredients with medicinal properties that form the basic raw materials for formulations. Active

formulation of the medicine is an essential part of the pharma industry.

Estimated bulk drugs account for one-fifth of the industry output while formulations account for the

rest. India also has the expertise for active pharmaceutical ingredients (APIs) and sees significant

opportunities for value-creation.

At present, Indian companies are producing over 80 percent of the anti-retro-viral drugs used

globally to combat AIDS (Acquired Immuno Deficiency Syndrome). The anti-retro-viral drugs are

very much needed in third world as well as in developing countries.

There are six domestic firms – Aurobindo, Cipla, Desano, Emcure, Hetero Labs, and Laurus Labs

have a sub license with the UN-backed Medicines Patent Pool to manufacture anti-AIDS medicine

TenofovirAlafenamide (TAF) for 112 developing countries.

Major Key players are Sun Pharmaceutical Industries, Cipla, Lupin, Dr. Reddy’s Laboratories,

Aurobindo Pharma, Zydus Cadila, and GlaxoSmithKline etc.

Major pharmaceutical clusters are situated in the different parts of the country. Andhra, Gujarat,

Maharashtra, and Goa are the major pharmaceutical manufacturing clusters in the country. The

bulk drug clusters are located primarily in Ahmedabad, Vadodara, Mumbai, Aurangabad, Pune,

Hyderabad, Chennai, Mysore, Bangalore, and Visakhapatnam(Vizag).

The pharmaceutical hubs offer investment opportunities in the production of API or bulk drugs,

biosimilar, vaccines, nutraceuticals, new molecular level research as well as food and drug testing

and contract research.

II. Foreign direct investment

India’s current foreign direct investment (FDI) policy allows 100 per cent FDI under automatic route

in green field pharmaceutical projects and up to 100 per cent FDI under government approval in

brownfield projects.

The green field category consist those companies which establish their subsidiary and start their

own production by constructing new plants or facilities from the zero. Whereas, under brownfield

investment, companies buy or lease existing facilities to begin a new production activity. The

ministry permits up to 100% foreign investment provided that the investor adheres to certain

stipulations laid down by the government. The ministry allows for exemption from price control for a

period of 15 years if the product is patented under the Indian Patent Act and is developed through

indigenous R&D in the country.

The export trend of India is highly commendable. Reckoned as a high quality generic manufacturer

across the globe, India exports half of its total production of pharmaceuticals to more than 200

countries in the world.

In 2017-18, India exported pharma products worth US$ 17.27 billion. By 2020, the industry

estimates the exports to grow by 30 per cent to reach US$ 20 billion.

The US is the most lucrative generics market for India’s pharma industry. It is valued at around $60

billion and accounts for about 25 percent of India’s total shipment. In 2017-18, India exported about

US$3.21 billion worth of generic drugs to the US, despite the tough regulatory environment in the

country.

With branded drugs going off patent during 2017-19, research agencies estimate the export of

generic drugs to the US to rise by about US$55 billion.

India’s other important export destination include the United Kingdom (US$383.3 million), South

Africa (US$ 367.35 million), Russia (US$ 283.33 million) and Nigeria (US$ 255.89 million).

The Need of Growth & Investment in the Pharmaceutical companies of India: The first question

related to the investment is the why do pharma company? The answer is the Pharmaceutical

industry in India has unique characteristics with a domination of branded generics, local brands

and low-price levels with intense competition. India has witnessed an alarming rise in the

occurrence of disease, good economic growth leading to higher disposable incomes, investment in

healthcare infrastructure and improved healthcare financing are driving growth in the domestic

market.

The Pharmaceutical industry in India is significantly contributing in healthcare, not just countrywide

but also globally. The Pharmaceutical exports for the FY 2017-18 was recorded as US$ 17.27 bn.1

The exports during April-December 2018-19 was US$ 13.94 bn, showing a growth of 9.32% over

the FY 2017-18.2 India continues to play a substantial role in manufacturing various important,

high‐quality and cost-efficient medicines for Indian and global markets. The Pharmaceutical

industry in India stood at US$ 38.2 bn in the FY 2018-19. The compound annual growth rate

(CAGR) of 15.4% between 2014 and 2018 was seen in the sector. Top Indian pharmaceutical

companies have received various international regulatory approvals for their plants, from agencies

like USFDA, MHRA-UK, TGA-Australia, MCC-South Africa etc.

Pharmaceuticals exports have been consistently growing for the last few years. In 2019, the

Government of India allocated US$ 8.9 bn for the Pharmaceutical industry, which represents a rise

of 13.6% as compared to the budget of 2018. The US and the EU together account for over 90% of

the regulated market exports and close to 50% of formulation exports for the domestic companies.

Manufacturers’ strengths in Organic Chemical Synthesis and Process Engineering: The

Pharmaceuticals industry has shown tremendous progress in terms of infrastructure development,

technology base and a wide range of products. The industry has developed GMP Certified (Good

Manufacturing Practices) facilities to produce different dosage forms.

India has the second highest number of United States Food and Drug Administration (USFDA)

approved facilities and labour costs in India are cheaper than other manufacturing hubs by up to

40%.Investors are interested in Indian industry because of low labour cost and high scale

manufacturing capability.

Stability in growth is a major factor. Despite recent headwinds, the Pharmaceutical industry in India

has grown rapidly. India is likely to become one of the top 3 Pharmaceutical industries by 2030.

High demand in the Indian product with generic penetration in high value healthcare markets (e.g.,

US) is growing significantly, with India supplying over 20% of the demand in major geographies.

III. Contract manufacturing/Third party manufacturing and research services in India

India is witnessed of third party manufacturing in a pharmaceutical companies for quality medicine

at affordable price.

The rising costs and regulatory pressure in developed markets are forcing many global

pharmaceutical companies to reduce their internal capacities in research and development (R&D),

and manufacturing, and turn to contract manufacturing and research services (CRAMS), and

outsourcing of research and clinical trials to developing countries.

Contract manufacturing is helping pharma start-ups to establish their brand in the market. Initially

they can buy quality products and make profit.

India, with a large patient population and genetic pool, is fast emerging as a preferred destination

for such multinationals seeking efficiencies of cost and time.

The country’s CRAM industry offers a significant cost-quality proposition, with potential savings of

about 30-40 percent compared to western markets such as the US and Europe.

Since the amendment to Patents Act in 2005, many Indian pharmaceutical companies have

gradually moved away from generic production to the development of new drugs, exports to

regulated markets and cooperative agreements with global pharma companies.

IV. Market Potential

A US$33 billion opportunity, the pharmaceutical industry in India presents considerable potential for

collaborative and outsourced R&D in drug development, biotechnology, chemicals, and

manufacturing of medicinal products.

India’s CRAM sector is globally recognized for its high-end research services and is one of the

fastest growing segments of the country’s pharmaceutical industry.

Besides, India is the only country in the world that has the highest number of USFDA-approved

plants for generic drug manufacturing outside the US. Some of the leading Indian pharma

companies derive about 50 per cent of their turnover from exporting generic medicines to

developed markets like the US and Europe.

The pharmaceutical sector was valued at US$ 33 billion in 2017. The country’s pharmaceutical

industry is expected to expand at a CAGR of 22.4 per cent over 2015–20 to reach US$ 55 billion.

India’s pharmaceutical exports stood at US$ 17.27 billion in FY18 and have reached US$ 15.52

billion in FY19 (up to January 2019).

India’s domestic pharmaceutical market turnover reached Rs 129,015 crore (US$ 18.12 billion) in

2018, growing 9.4 per cent year-on-year (in Rs) from Rs 116,389 crore (US$ 17.87 billion) in 2017.

Indian companies received 304 Abbreviated New Drug Application (ANDA) approvals from the US

Food and Drug Administration (USFDA) in 2017. The country accounts for around 30 per cent (by

volume) and about 10 per cent (value) in the US$ 70-80 billion US generics market.

India's biotechnology industry comprising bio-pharmaceuticals, bio-services, bio-agriculture, bio-

industry and bioinformatics is expected grow at an average growth rate of around 30 per cent a

year and reach US$ 100 billion by 2025.

Indian pharma companies are looking ahead for various deals in this moment to realise the

profitability of investment.

V. Key Points

Pharma Vision 2020 by the government’s Department of Pharmaceuticals aims to make India a

major hub for end-to-end drug discovery and it will also boost confidence of players to invest in

major pharma companies.

In 2017, Indian pharmaceutical sector witnessed 46 merger & acquisition (M&A) deals worth US$

1.47 billion The exports of Indian pharmaceutical industry to the US will get a boost, as branded

drugs worth US$ 55 billion will become off-patent during 2017-2019.: Indian Drugs &

Pharmaceuticals sector has received cumulative FDI worth US$ 15.83 billion between April 2000

and June 2018. Between Jul-Sep 2018, Indian pharma sector witnessed 39 PE investment deals

worth US$ 217 million. In 2017, Indian pharmaceutical sector witnessed 46 merger & acquisition

(M&A) deals worth US$ 1.47 billion. Over the last three years, pharmaceuticals segment has

accounted for more than 70 per cent of M&A deals. India’s pharmaceutical export market is thriving

due to strong presence in the generics space Pharmaceuticals exports from India stood at US$

17.27 billion in FY18 and US$ 10.80 billion in FY19 (up to October 2018).The pharmaceutical

industry in India provides several opportunities for investments and trade due to the following

factors:

1. Clinical trials is possible in India ethically because of various favourable conditions and it Is

helpful for the investment purpose too.

2. India has efficient and cost-effective sources for getting a hold of generic drugs, especially

the drugs that are going off their patents in the coming years.

3. India has abundant manpower with well-equipped scientific, technical base with research

and development team.

4. The cost of making drugs is very low in India.

5. The production cost of quality drugs in bulk quantities is very low in comparison to other

countries.

6. India houses excellent laboratories with world-class facilities. It has laboratories that

specialize in process development and the development of cost-efficient drug

manufacturing technology.

7. India is self-sufficient in terms of the production of bulk drugs. Almost 70% of the

requirements for the formulation of drugs are available inside the country.

8. Another important factor that is responsible for attracting foreign investments in the Indian

pharmaceutical sector is the increasing balance of trade in the pharma sector.

9. India's fast growing biotech industry, which offers great potential in the international market,

also has contributed in making the pharma sector in India an attractive industry to make

investments.

10. Indian biopharmaceuticals have huge potential in the field of biologics, monoclonal

antibodies, commercial gene therapy, although China is the first country in the gene therapy

market at the commercial level.

Due to all these advantageous factors, India is recognized as one of the leading players in

pharmaceuticals in the global market.

The Indian pharmaceutical industry beefed up with the signing of the General Agreement on Tariffs

and Trade in 2005. This agreement helped India to recognize global patents. After recognizing a

huge potential in patents, the Indian pharmaceutical market has become a global destination for

foreign players to invest in the sector. Also, investment in pharmaceutical industry has vastly

enhanced over the years after the industrial licensing for a huge number of drugs and

pharmaceutical products has been abolished.

A review of the FY19 performance of leading Indian pharma companies point to four dominant

themes that hold the future for the industry.

Cost: Rationalisation of cost during difficult times seems to be the most important tool for Indian

pharma companies that compete on low-cost generics. Too much spending on R&D related to

generic drugs has not been paying off — prompting companies to go back to their planning boards

to make R&D more productive. Besides, legal costs as well as expenditure on drug marketing have

spurted in recent years.

Competition: US have worsened the competition in the traditional generic business segment and

are no longer as remunerative and the speedy approvals of drugs have accentuated it. To counter

it, Indian companies are moving ahead difficult to-manufacture differentiated drugs like complex

generics, specialty drugs and biosimilar – a shift that requires change in expertise, additional

investment and management bandwidth.

Compliance: Most of the pharma companies facing compliance issues with the US drug regulator,

the topic should be on top of their list of priorities. Right from observations, warning letters to import

alerts – companies in India have faced varying degrees of reproach from the USFDA. Besides the

loss of business and expenses incurred on remedial action, companies also suffer value erosion

on the bourses amid uncertainty about the course correction.

China: Chinese market is opening the window for Indian generics seem to be a timely opportunity

for pharma companies. The Chinese market prospects were discussed in the fourth quarter

earning calls of Dr Reddy’s Labs (DRL) and Cipla. Indian companies are trying to find a sweet spot

to export drugs to China amidst the fast-developing trade war between China and the US. Cipla’s

management talked of accelerating its entry in China - which it considers a growth market.

India’s pharmaceuticals market has grown in confidence and firmly moved on to an accelerated

growth path. The central question need to address is the true nature and the full extent of this

market’s potential. Market potential decided by the customer perceived value Backed by solid

fundamentals, the market is giving rise to a variety of business opportunities. India will confident

that strong player intent, investments and actions will underpin future growth and enable the Indian

pharmaceuticals market to break into the global top tier.

As we know, by 2020, India is likely to be among the top three pharmaceutical markets by

incremental growth and sixth largest market globally in absolute size. India‘s cost of production is

significantly lower than that of the US and almost half of that of Europe.

The government, on its part, took steps such as measures to improve bulk drug manufacturing in

India to reduce dependence on China and planning a separate ministry for pharmaceuticals sector

to boost the domestic industry.

VI. Risk in Investment

The first factor evaluated in any investment analysis is risk. We should analyse the rate of

occurrence and impact of event but despite these factors it depends on external factors of the

country where you are investing.

Cash flow is also a factor for investors to tackle with it. The arbitrary and dubious nature of India’s

regulatory interventions, including restrictions on pricing and licensing are among the several

challenges that global drug companies face in securing easy market access to India.

The government’s ban on fixed-dose combination drugs and demonetization of high-value currency

notes in 2016 affected 6000 brands produced by 100 plus drug manufacturing companies. The

regulations concerning price control of drugs, or making prescriptions of medicines by their generic

name instead of brand names mandatory, too, remain key threats for the industry. Other concerns

also include the Intellectual property right protection of generics and biosimilar products while using

it, impact of the goods and services tax (GST) on sourcing, manufacturing, and distribution

channels, as well as policies and practices that support local manufacturers. Indian government

not also tried to harmonize their pharmaceutical rules with TRIPS, but they also intelligently used

the flexibilities of TRIPS to create suitable conditions for growth and development of its

pharmaceutical industry.

The biopharmaceutical industry is facing numerous challenges to its fundamental business

model and difficult to sustain sufficient innovation to replace its products and revenues lost due

to patent expirations. We cannot ignore regulatory interventions so let’s watch.

Considering these challenges, it is essential for foreign companies to pay more attention to market-

access capabilities as a means to capture the growth opportunities that India offers – especially for

the introduction of innovative drugs

Future Ahead: Medicine spending in India is projected to grow 9-12 per cent over the next five

years, leading India to become one of the top 10 countries in terms of medicine spending.

Government Role is essential: The government needs to play a direct role in driving access to

healthcare through long range initiatives. It is the duty of government to protect investors from

extraneous shock. In particular, we believe that the government needs to fulfil five roles:

Spend more on GDP: The government has announced plans to increase its spending in healthcare

to 3 per cent of GDP. The current growth trajectory, in which this spending is increasing at 18 per

cent annually, will take the government’s healthcare spending up to 1.6 per cent of GDP by 2020.

The gap between this achievement and the stated aspiration will have a material impact on the

trajectory of the healthcare sector in general, and the pharmaceuticals sector in particular.

Invest heavily in healthcare infrastructure, particularly in Tier-II and rural markets: The government

plans heavy investments in medical infrastructure during the next decade. A majority of this

spending will go towards upgrading infrastructure in primary and secondary care centres, i.e.,

district hospitals, PHCs and CHCs. Executed well; Quality healthcare is very important for poor

people.

Adopt new strategy to maintain healthcare costs: Drug prices in India are among the lowest in the

world driven by intense generics competition. Any further controls on pricing will impair the viability

of the industry, reduce investments and wipe out USD 20 billion market opportunity by 2020.

Hence, policy makers should consider measures beyond price control to control overall healthcare

costs.

Fix the physicians’ shortage: It is the duty of govt to think about the availability of doctors in the

country. Beyond setting up new medical education centres, the government needs to encourage

innovative ways to address the talent deficit. The Bachelor of Rural Medicine and Surgery (BRMS)

programme, launched in Tamil Nadu, is a case in point. Execute RSBY according to plan: The

government has announced plans to cover approximately 400 million people through RSBY; 19

million families have already been covered and implementation seems to be on track. However,

specific attention needs to be given to two areas. First, while RSBY is creating affordability, more

doctors and hospitals need to be empanelled such that access does not become a bottleneck.

Second, the private insurance players involved in RSBY need to remain viable and committed to

the long-term success and scaling up of the initiative. The government’s actions are foundational

and will play a central role in determining the pace and quality of market growth.

References

1. www.ibef.org

2. www.pwc.in

3. https://www.india-briefing.com/news/pharmaceutical-industry-india-trends-opportunities

4. https://www.mckinsey.com/.../Pharma%20and%20Medical%20Products/ .

5. //economictimes.indiatimes.com/articleshow/69643245.cms

6. from=mdr&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

7. www.makeinindia.com/article/-/v/sector-highlights-pharmaceuticals

8. A Comparative Study on Different Pharmaceutical Industries and Proposing a Model for the

Context of Iran Hossein Safari,a Mohammad Arab,a,* Arash Rashidian,a Abbas Kebriaee-

Zadeh, and Hasan Abolghasem Gorjic

9. www.investinindia.com/industry/pharmaceutical/pharmaceutical-industry

CHALLENGES FOR INDIAN FIANANCIAL SECTOR

Shashank Saurav(Lnmi, Patna)

Abstract

Economic development of a nation depends on the soundness of the nation’s financial system. The financial system acts as nerves system of a nation’s economy. The financial system consists of many subsystems like financial services, banks, financial institutions etc. It provides the principle means by which savings transformed into investment. The efficient functioning of the financial system is required for modern economy. The banking sector is a major player in the system concentrating its business in organized and urban sector. The paper focuses on the banking sector which is facing major challenges like rising NPAs (Non-performing asset), Access to banking services in rural areas, political pressures and measures that require for minimizing these challenges.

I. Introduction

Economic development of a nation depends on the soundness of the nation’s financial system. The

financial system acts as nerves system of a nation’s economy. Financial system is a key weapon in

monitoring the economic progress of any country, because eventually all efforts and resources are

measured in financial terms. The efficient functioning of the financial system is required for modern

economy. India has come a long way since it embarked upon its journey of economic reforms more

than two decades ago. With a projected GDP growth of over 7 per cent, it is now one of the fastest-

growing major economies in the world. To sustain India’s high growth rate and spread its benefits

more evenly, the financial sector has a crucial role to play in mobilizing resources and channeling

them to productive uses. India’s efforts to push through financial reforms in the last few years have

been promising.

Some of the important accomplishments include the introduction of an inflation-targeting regime,

easing of norms to apply for banking licenses, introduction of an insolvency and bankruptcy code

(IBC,2016), and Pradhan Mantri Jan Dhan Yojana, etc.

However India has a long, unfinished reform agenda that it needs to pursue with utmost urgency to

sustain the high growth rate in the long term. India is, currently, a $2.8 trillion economy; to reach

the $5 trillion mark by 2025, the economy would require nominal growth in dollar terms of over 12%

a year. To make this figure true we require a robust financial system and better government policy.

II. Challenges

1. Rising Non-Performing assets (NPAs) of Indian banks.

2. Access to banking services in rural areas/ lack of financial awareness.

3. Political pressure

III. Rising non-performing assets (npas) of indian banks

The most pressing issue facing the Indian financial sector is the rising stocks of non-performing

assets or NPAs in the banking system. Bank credit is an important source of finance for

households and firms in India.

The rising stock of NPAs, which amounts to over Rs 7 lakh crore, has been eroding banks’ profits

and inhibiting their ability to provide credit. Escalating NPAs require a bank to make higher

provisions for losses in their books. The banks set aside more funds to pay for anticipated future

losses; and this, along with several structural issues, leads to low profitability.

Some of the factors leading to the increased occurrence of NPAs are external, such as decreases

in global commodity prices leading to slower exports. Some are more intrinsic to the Indian banking

sector.

A lot of the loans currently classified as NPAs originated in the mid-2000s, at a time when the

economy was booming and business outlook was very positive. Large corporations were granted

loans for projects based on extrapolation of their recent growth and performance. With loans being

available more easily than before, corporations grew highly leveraged, implying that most financing

was through external borrowings rather than internal promoter equity. But as economic growth

stagnated following the global financial crisis of 2008, the repayment capability of these

corporations decreased. This contributed to what is now known as India’s Twin Balance Sheet

problem, where both the banking sector (that gives loans) and the corporate sector (that takes and

has to repay these loans) have come under financial stress. Further, recently there have also been

frauds of high magnitude that have contributed to rising NPAs.

The measures taken to resolve and prevent NPAs can broadly be classified into two kinds – first,

regulatory means of resolving NPAs per various laws (like the Insolvency and Bankruptcy

Code,2016), and second, remedial measures for banks prescribed and regulated by the RBI for

internal restructuring of stressed assets.

IV. Access to banking services in rural areas/ lack of financial awareness

The Indian population is huge and nearly 76% of it does not understand even the basic financial

concepts. Even though the concept of financial inclusion has spread in the rural areas, not much of

that has had any effect due to inefficient financial literacy. Indians consider financial literacy to be

important for an adult, but don’t realize that if the idea of financial literacy ingrained in the minds of

child during the learning/schooling stage itself, he/she would automatically grow up to be a

financially literate individual.

Another huge hindrance in the spread of digital financial literacy in the rural areas is poor financial

condition of people. Most people living in such areas are daily wage earners who do not have the

luxury of using gadgets and technology which are compatible with e-wallets & net banking. Lack of

infrastructural facilities to aid the financial literacy plans has added to the problem as well. There

are a numbers of institutions which have set up Community Service Centers (CSCs), managed by

the people of village itself and at locations which the people are familiar with. If Government

conducts financial literacy classes in these community service centers then it will definitely give

positive result. If we work together none can stop the nation from achieving the aim of making

finance digitalization from reaching even its remotest corners.

V. Political Pressure

The smooth working of nationalized banks has also been hampered by growing political pressures

from the Centre and the States. Nationalized banks often face lots of difficulties due to various

political pressures. Such pressures are created in the selection of personnel and grant of loans to

particular parties without considering their creditworthiness.

VI. Conclusion

India has enormous growth potential. To unlock this potential and to maintain an upward growth

trajectory, it is crucial that the government pursue financial market development and reforms. It is

clear what needs to be done - what is needed now is a strong political will to push through the

unfinished reform agenda aggressively and rapidly.

References

1. The Hindu Business Line

2. RBI site

3. Economic times

CUTOFF POINT OF THE USE OF TECHNOLOGY IN CLASSROOMS

Ruchi Shukla(Assistant Professor, Amity University, Patna)

Varda Munka(Faculty with ICAI, Patna Chapter)

Abstract

Due to digital revolution the world of education is undergoing a massive transformation. This transformation seems similar to the transformation that occurred in the 19 th century, which gave rise to universal schooling system from the era of apprenticeship, at the time of Industrial Revolution. New technologies are creating learning opportunities that are challenging traditional schools and colleges. We are witnessing this all around us. Students try to learn various concepts through different MOOC platforms (Massive open online courses) like Byjus classes, Course Era, Udemy etc., children are playing complex video games etc. Not only this, the presence of laptops and mobile phone devices in lectures has been a supplement and boon to higher education system. Students can get lengthy questions shared through various social media apps, they can get their class notes in form of power point presentations, and hence they don’t have to waste time in writing down the notes, they can instantly respond to online poll, they can use various mediums to find out quick answers to their questions etc. With these advantages of technology in education comes an equal and opposite set of possible disadvantages. Through various researches it has been found that the distraction level of students has increased. Now the focus is more to find out quick answers, rather than data mining. As a result, an increasing number of instructors now include specific policies pertaining to technology in classrooms. This paper ought to discuss upon the cutoff point of the use of technology in classrooms.

FINANCIAL INCLUSION AND RURAL DEVELOPMENT

Ajay Kumar(Department of Commerce & Management, Veer Kunwar Singh University, Ara)

Abstract

Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to section of disadvantaged and low income segments of society. It includes provision of basic banking credit investment and insurance services all the sections of the society. The banking industry has shown tremendous growth in volume and complexity during the last few decades. Despite making significant improvement in all areas relating to financial viability, profitability and competiveness, there are concern that banks has not been able to include vast segment of the population, especially the underprivileged sections of the society, into the fold of basic banking services. The main focus of financial inclusion in India is to promote sustainable development and generating employment in rural areas for the rural population. Out of 19.9 Crore household in India only 6.82 Crore household have access to banking services. Around 15-20% People does not have bank accounts, it was before 65% before Jandhan Yojana. 30-40%India’s poor depend on local money lender on unreasonable rate like lagan system during British period. People taking insurance is very low in Number. Only cash transaction is rural areas before Jndahan Yojna. There are different steps have been taken by the Reserve Bank of India and the government to bring the financially excluded people to the fold of the formal banking services. The 100% financial inclusion drive is progressing all over the country. The state level Bankers committee (SLBC) has been advised to identity one or more districts for 100% financial inclusion, So, For the SLBC has indentified 431 districts for 100% financial inclusion. The latest National sample survey organization survey reports that there are over 80 million poor people living in the cities and towns of India and they lack access to the most basic banking services- such as saving account, credit cards payment services. Financial advisory services etc. low income groups do not have access to the formal banking systems as they usually do not have the documents needed to open a bank account. Financial inclusion is aimed at poverty reduction, human development, health and provides opportunity to work and be creative.

I. Introduction

The aim of financial inclusion is to promote sustainable development and generating employment for a vast majority of the population especially in the rural areas. In the first ever Index of Financial Inclysion to find out the extent of reach of banking services among 100 countries, India has been ranked 50. At present, only 34% of the India's population has access to basic banking services. The latest National Sample Survey Organization survey reports the there are over 80 million poor people living in the cities and towns of India and they lack access to the most basic banking services - such as savings accounts, credit, remittances and payment services, financial advisory services, etc. Low-income groups do not have access to the formal banking systems, as they usually do not have the documents needed to open a bank account. As a result, they depend on the informal sector for their savings and loan requirements. Recognizing the importance of inclusive growth in India, efforts are being taken to make the financial system more inclusive. The Report Committee on Financial Inclusion headed by Dr.C.Rangarajan (2008) has observed that financial inclusion must be taken up in a mission mode and suggested a National Mission on Financial Inclusion (NMFI) comprising representation of all stakeholders for suggesting the overall policy changes required, and supporting stakeholders for suggesting the overall policy changes required, and supporting stakeholders in the domain of public, private and NGO sectors in undertaking promotional initiatives.

II. Need for Financial Inclusion

Out of 19.9 crore households in India, only 6.82 crore households have access to banking

services. As far as rural areas are concerned, out of 13.83 crore rural households in India, only

4.16 crore rural households have access to basic banking services. In respect of urban areas, only

49.52% of urban households have access to banking services. Over 41% of adult population in

India does not have bank account. There are number of factors affecting access to financial

services by weaker section of society in India. The lack of awareness, low incomes and assets,

social exclusion, illiteracy are the barriers from demand side. The distance from bank branch

timings cumbersome banking procedure and requirements of documents for opening bank

accounts, unsuitable banking products/schemes, language, high transaction costs and attitudes of

bank officials are the barriers from supply side. Hence, there is a need for financial inclusion to

build uniform economic development, both spatially and temporally, and ushering in greater

economic and social equity. The Eleventh Five Year Plan (2007-12) envisions inclusive growth as a

key objective. The inclusive growth implies an equitable allocation of resources with benefits

accruing to every section of society. It is aimed at poverty reduction, human development, health

and provides opportunity to work and be creative. Achieving inclusive growth in India is the biggest

challenges as it is very difficult to bring 600 million people living in rural India into the mainstream.

One of the best ways to achieve inclusive growth is through financial inclusion.

III. Financial Inclusion

Today some of the international bodies responsible for the financial inclusion have provided definitions and indicators that are globally accepted (AFI 2011; GPFI and CGAP 2011; Garcia et al 2013). We can extrapolate from these definitions the multidimensional nature of financial inclusion, where their basic elements are access and use and, more recently, quality (Roa 2015). The lack of access has traditionally been defined as a type of limitation or observable barrier resulting from the frictions associated with the financial sector: information and transaction costs (Honohan 2004; Beck and De la Torre 2007). Concretely, information frictions give rise to barriers such as requirements of collateral, documentation, or high tariffs that a large part of the population cannot meet. Alternatively, high transaction costs (especially in remote rural areas ) make opening a bank branch or financial services point unprofitable. In developing or rural economies, in particular, the segmentation of the market, the dispersion of producers and the lack or bad condition of road networks contribute to very transaction costs. The IMF's Financial Access Survey (FAS) is a good source of access indicators. The survey is the only source of supply-side data that includes information for access to and use of, basic consumer financial services by resident households and nonfinancial corporations. The database currently contains annual data and metadata for 189 jurisdictions covering and eleven-year period (2004-2014), and that enable international comparisons to be made. The FAS suggests that there have been significant increases in financial inclusion over the past decade. In terms of the geographical outreach of financial service, the number of commercial bank branches per 100,000 adults increased from three to five during 2004-12 in Africa, and from 11 to 23 in Latin America and the Caribbean. Further, the number of ATMs per 100, 000 Adults surged in Eastern Europe. The use of financial service has increased as well, with the number of deposit accounts per 1,000 adults rising.

III. Financial Stability

Since the 2007 global financial crisis the importance of maintaining financial stability hasattracted the attention of academics, policymakers, and practitioners. the financial stability board (FSB 2011) indicates that financial authorities need to focus their attention on a credit intermediation system that includes entities and activities outside the banking system, which can pose a systemic risk, additionally, the financial crisis alerted policymakers of the need

for a macro prudential dimension to financial surveillance and regulation. In particular, the approach to the development of these measures of financial system stabilities has changed over the years as the locus of concern moved from macro prudential dimensions of financial stability. From the analysis of early warning indicators to monitor the state of the banking system, particularly the risk of default of individual institutions, the focus has sifted to a broader system-wide assessment of risks to the financial markets, institutions and infrastructure: the systemic financial risk (FSB, IMF and BIS 2009). Consequently, a key goal of the policy reforms has been to reduce risks associated with systemically important financial institution whose disorderly failure, because of there size, complexity, and systemic interconnectedness would cause significant disruption to the wider financial system and economic activity.

Literature Review

Studies on the diverse possible links between financial stability and inclusion are new and on the whole realized by those institutions, international bodies, policy makers, regulators on supervisors responsible for safeguarding financial inclusion and/or stability. Until very recently, the majority of the documents comprised case studies from countries or regions, gathered in working documents or speeches, which do not explore nor demonstrate empirically the proposed links. They also neglect to apply a concrete conceptual framework. The different authors emphasize the need for solid and rigorous theoretical and empirical analysis into these links. In recent years, Indian banking sector is grappling with the issue of financial inclusion. But, it is not altogether a new exercise. Financial inclusion was envisaged and embedded in Indian credit policies in the earlier decades also, though in a disguised form and without the same nomenclature (Rao, 2007). Banks would have to evolve specific strategies to expand the outreach of their services in order to promote financial inclusion. One of the ways in which this can be achieved in a costeffective manner is through forging linkages with micro finance institutions and local communities. Banks should give wide publicity of no frills account. Banks need to redesign their business strategies to incorporate specific plans to promote financial inclusion of low income group treating it both a business opportunity as well as a corporate social responsibility (V.Leeladhar,2005). Micro-finance offers significant potential for achieving financial inclusion. The experience of the bank in this segment has been quite encouraging. In the words of Prof.C.K.Prahalad "If we stop thinking of the poor as victims or as a burden and start recognizing them as resilient and creative entrepreneurs and value conscious consumers, a whole world of opportunity will open up" (K.C.Chakrabarty, 2008). Access to financial services allows lower income groups to save money outside the house safely, prevents concentration of economic power with a few individuals and mitigates the risks that poor people face as a result of economic shocks (Beck, Demirguc-Kunt & Peria, 2006). The breadth of financial inclusion in a region or a country is usually measured by the percentage of people in the region who have access to bank accounts (Beck & De la Torre, 2006). This is primarily because a bank account enables poor households to perform important financial functioning such as saving money safely outside the house, accessing

Status of Financial Inclusion in India

The status of financial inclusion in India has been assessed by various committees interms of her people's access to avail banking and insurance services. Only 34% of the India's

population has access to banking services. The Eleventh Five Year Plan (2007-12) envisions inclusive growth as a key objective. Achieving inclusive growth in India is the biggest challenge as it is very difficult to bring 600 million people living in rural India into the mainstream. One of the best ways to achieve inclusive growth is through financial inclusion. The process of financial inclusion in India can broadly be classified into three phases. During the First Phase (1960-1990), the focus was on channeling of credit to the neglected sectors of the ceremony. Special emphasis was also laid on weaker sections of the society. Second Phase (1990-2005) focused mainly on strengthening the financial institutions as part of financial sector reforms. Financial inclusion in this phase was encouraged mainly by the introduction of Self-Help Group (SHG)-bank linkage program in the early 1990s and Kisan Credit Cards (KCCs) for providing credit to farmers. The SHG-bank linkage programmed was launched by National Bank for Agriculture and Rural Development (NABARD) in 1992, with policy support from the Reserve Bank, to facilitate collective decision making by the poor and provide 'door step' banking. During the Third Phase (2005 onwards), the 'financial inclusion' was explicitly made as a policy objective and thrust was on providing safe facility of savings deposits through 'no frills' accounts. The Report Committee on Financial Inclusion headed by Dr.C.Rangarajan (2008) has observed that financial inclusion must be taken up in a mission mode and suggested a National Mission on Financial Inclusion (NMFI) comprising representation of all stakeholders for suggesting the overall policy changes required, and supporting stakeholders in domain of public, private and NGO sectors in undertaking promotional initiatives. Several steps have been taken by the Reserve Bank of India and the Government to bring the financially excluded people to the fold of the formal banking services. They include the following: Introduction of 'No-Frills' account Relaxing 'Know Your Customer' (KYC) norms General Purpose Credit Card (GCC ) Schemes Role NGOs, SHGs and MFIs Business Facilitator (BF) and Business Correspondent (BC) Models. Nationwide Electronic Financial Inclusion System (NEFIS) Project Financial Literacy Financial Literacy and Credit Counseling (FLCC) centers National Rural Financial Inclusion Plan (NRFIP) Financial Inclusion Fund (FIF) Financial Inclusion Technology Fund (FITF)With a view to enhancing the financial inclusion, in the Mid Term Review of the Policy(2005-06), the RBI advised all banks in November 2005 to make available a basic banking 'no frills' account either with 'nil' or very low minimum balances as well as charges that would make such accounts accessible to vast sections of the population. The 100 percent financial inclusion drive is progressing all over the country. The State Level Bankers Committee (SLBC) has been advised to identity one or more districts for 100 percent financial inclusion. As on 31st March 2006 to 3,30,24,761 on 31st March 2009. The lead bank in each district has been asked by RBI to draw a roadmap by the end of March 31, 2010 for ensuring that all villages with a population of over 2,000 will have access to financial. Services through a banking outlet, not necessarily a bank branch, by 31, 2012. There will be an intermediate target to be achieved by March 31, 2011. Keeping in view the enormity of the task involved, the Committee on Financial InclusionRecommended the setting up of a mission mode National Rural Financial Inclusion Plan(NRFIP) with a target of providing access to comprehensive financial services to at least 50

percent (55.77 million) of the excluded rural households by 2012 and the remaining by 2015.Conclusion:In achieving inclusive growth in India, the Financial Inclusion will play a vital role andhelp the nation to drive away the not rural poverty but also urban poverty in India. It is the duty of every Indian citizen to ensure that all the Indian will have bank account and everybody should take part actively in achieving 100% financial inclusion in India.References:1. Pratima Trivedi, "Financial Inclusion: A Must for Financial Stability", Vinimaya,Vol.XXIX (2), 2008-09, Pp. 59-642. Devaki Muthukrishnan, "Financial Inclusion", The Journal of Indian Institute of Banking and Finance, April-June 2008, Pp.30-333. Gadewar, A.U, "Financial Inclusion: Issues and Challenges", Vinimaya, Vol.XXVII (4),2006-07, Pp. 49-564. Ramesh , M, "RBI Pilot Project on Financial Inclusion in Pondy", The Hindu BusinessLine, November 22, 2005.5. Leeladhar, V (2005), "Taking Banking Services to the Common Man: FinancialInclusion", Commemorative Lecture by Shri V. Leeladhar, Deputy Governor, RBI, Fedbank Hormis Momorial Foundation, Ernakulam, December 2, 2005.6. "Banks Back RBI's Inclusion Plan with no Frills Account", Business Standard,December 30, 2005.7. Nair, M.V., "RBI Policy Reiterates Stress on Financial Inclusion", The FinancialExpress, April 19, 2006.8. Punnathara, C.J., "No-Frills Accounts: Financial Inclusion is Good Economics", TheHindu Business Line, June 8, 2006.9. "Report of the Committee (Chairman: C.Rangarajan) on the Financial Inclusion",Government of India, January 2008.10. Thorat, Usha (2007), " Taking Banking Services to the Common Man - FinancialInclusion", Deputy Governor, RBI, at the HMT-DFID Financial Inclusion Confernces,Whitehall Place, London, UK, June 19, 2007, Speech.11. Mahendra Dev.S. (2006), "Financial Inclusion -Issues and Challenges", Economic and Political Weekly, Vol.41 (41), October 14 - October 20, 2006.12. Rangarajan, C. (2007), "Financial Inclusion- Some Key Issues", Lecture delivered atMangalore University, Mangalore, August 10, 2007.

FOREIGN DIRECT INVESTMENT (FDI)

Jitendra kumar(Research scholar, University Department of Commerce and Business Management, Veer Kunwar

Singh University, Ara, Bihar)

Abstract

Foreign direct investment plays a very important role in the development of the nation. It is the major monetary source for economic growth . It has grown dramatically as a major form of international capital transfer over the past decade. Between 1980 and 1990, World flows of FDI defined as cross border expenditure to acquire or expand corporate control of productive assets have approximately tripled. Foreign direct investment policies play a major role in the economic growth of developing countries around the world Attracting FDI inflows with conductive policies has therefore become a key battleground in the emerging markets.It is a process which encbles the residents of one country to directly invest their fund in another country and aquire ownership of assests and exercise control over the investment in terms of productions, management, distribution effective decision making, employment etc. The most important channel through which foreign capital flows into the country. A foreign direct investment is a controlling ownership in a business enterprise in one country by an entity based in another country A part from being a critical driver of economic growth foreign direct investment is a major source of non debt financial resources for the economic development of india As per m report india is an investment hub after china and USA for major global companies. The Presents study is based on secondary data and period of the study is from 1991 to 2018. Total FDI inflows have been raised from us $ 133 million in 1991-92 to us $ 42 Billion in the year 2018. India attract over 77% the total foreign direct investment that come to the south Asian region said the UNCTAD Report 2019.

Keywords :- FDI, Economic Growth development advantages important.

Introduction

Foreign direct investment (FDI) has grown dramatically as a major form of international capital

transfer over the past decade. Between 1980 and 1990 world flows of FDI-defined as cross border

expenditure to acquire or expand corporate control of productive assets –have approximately tripled.

FDI has become a major form of net international lender and borrower respectively. Direct

investment has grown even more rapidly of late within Europe

To what extent is this sudden worldwide surge in FDI explained by traditional theories?

These theories predict the scale and scope of multinational enterprises by looking to differences in

competitive advantages, across firms or countries, that might lead to the extension of corporate

control across borders. So, for example, better technology, management capability and product

design; stronger consumer allegiance; and greater complementarities in production or use of

technology can allow a domestic firm to control foreign assets more productively than would a

foreign firm and could therefore predicate direct investment.

Foreign investment plays a significant role in development of any economy as like India. Many

countries provide many incentives for attracting the Foreign Direct Investment. Need of FDI

depends on saving and investment rate in any country. Foreign Direct Investment has grown

dramatically capital transfer over the past decade. Foreign Direct Investment is the investment made

in production or business in by the country in another country by either means of buying a company

or expanding its business in the foreign country. It is usually by means of bonds and share.

Generally speaking FDI refers to capital inflows from abroad that invest in the production capacity

of the economy and are ‘‘usually preferred over other

forms of external finance because they are non-debts creating non-volatile and their returns depend

on the performance of the projects financed by the investors.FDI also facilitates international trade

and transfer of knowledge, skill and technology’’

Total FDI Equity Inflow From 2000-17

Year Denomination Inflow in million2000-01 USD 2378.682000-02 USD 4027.692000-03 USD 2704.342000-04 USD 2187.852000-05 USD 3218.692000-06 USD 5539.722000-07 USD 12491.772000-08 USD 24575.432000-09 USD 31395.972000-10 USD 25834.412000-11 USD 21383.052000-12 USD 35120.802000-13 USD 22423.582000-14 USD 24299.332000-15 USD 30930.502000-16 USD 40000.982000-17 USD 43478.27

Type of the foreign investment

Based on this, Foreign Investments are classified as below.

24. Foreign Direct Investment (FDI)

25. Foreign Portfolio Investment (FPI)

26. Foreign Institutional Investment (FII)

Type of FDI

Stategocally, FDI comes in three types”

x. Horizontal” In case of horizontal FDI, The company does all the same

activities are carried out abroad as at home.

y. Vertical” In verticle assignments, different types of activities are carried out

abroad. In case of forward vertical FDI, the FDI bring the company nearer to a

market. In case of backward Vertical FDI, the international integration goes

back towards raw materials.

z. Conglomerate” In this type of investment, the investment is made to acquire

an unrelated business abroad. It is the most surprising form of FDI, as it

requires overcoming two barriers simultaneosly – one, entering a foreign

country and two, working in a new industry.

Another theory, there are two types of FDI

ae. Greenfield Investment – It is the direct investment in new facilities or the

expansion of existing facilities. It is the principle mode of investing in

developing countries like India.

af. Mergers and Acquisition- It occurs when a transfer of existing assets

from local firms takes place.

Why FDI is Important?

27.Economic Development Stimulation- Foreign direct investment can stimulate

the target country’s economic development creating a more conductive

environment for you as the investor and benefits for the local industry.

28.Easy International Trade- Commonly, a country has its own import tariff, and

this is one of the reasons why trading with it is quite difficult. Also, there are

indutries the usually require their presence in the international markets to

ensure their sales and goals will be completely met. With FDI, all these will be

made easier.

29.Employment and Economic Boost – Foreign direct investment creates new

jobs, as investors build new companies in the target country, create new

opportunities. This leads to an increase in income and more buying power to

the people, which in turn leads to an economic boost.

30.Tax Incentives – Parent enterprises would also provide foreign direct

investment to get additional expertise technology and products As the foreign

investor, you can receive tax incentives that will be highly useful in your

selected field of business.

31. Resource Transfer – Foreign direct investment will allow resource transfer and

other exchanges of knowledge, where various countries are given access to new

technologies and skills..

Disadvantages of FDI

26.Modern day Economic Colonialism – Many third world countries or at

least those with history of colonialism worry that foreign direct

investment would result in some kind of modern day economic

colonialism which exposes host countries and leave them vulnerable to

foreign companies exploitations.

27.Hindrance to Domestic Investment – As it focuses its resouces elsewhere

other than the investor’s home country, foreign direct investment can

sometimes hinder domestic investment.

28.Risk from Political Changes – Because political issues in other countries

can instantly change, foreign direct investment is very risky. Plus, most

of the risk factors that you are going to experience are extremely high.

History of Foreign Direct Investment in India: The initial entry of FDI in

India can be loosely considered from the time of establishment of East India

Company of Britain during the colonial era in the 17th century when the British

merchants approached the Mughal Emperor for establishing factory in Surat

city of India. Along with them the British brought on the Industrial revolution

to India which led to development of transportation (Railways and Roadways)

and communication system albeit for their benefits. The new innovations and

inventions happening around the European countries got introduces to the

Indian subcontinent too.

After Second world war many Japanese companies entered the Indian market

and enhanced their trade with India. After our Independence the policy makers

of new India realized the need of foreign investment for development and

designed the FDI policies aiming it as a medium for bringing in advanced

technologies and gaining valuable foreign exchange resources. With time and

as per economic and political regimes there have been changes in the FDI

policy too. The industrial policy of 1965, allowed MNCs to venture through

technical collaboration in India. Therefore, the government adopted a liberal

attitude by allowing more frequent equity.

FDI was introduced in the year 1991 under foreign Exchanges management act

(FEMA), by then finance minister Dr. Manmohan singh. It started with a

baseline of $ 1 billion in 1990. India is considered as second important

destination for foreign investment. The major sector that attracted FDI

areservices, telecommunication, construction activities and computer software

and hardware.

Objectives

• To Study the Current Trends and pattern of flow of FDI.

• To Study about the impact of impact of FDI in India.

• To know about role play of FDI in shaping India’s future.

• To suggest the suggestion and draw the conclusion.

• To study the impact of FDI and FIIS in improving the quality and

availability of goods has been beyond doubts.

• To study the significance of FDI for developing countries in bridging the

gap between the saving and investment.

Data and Methodology:This report is based on secondary data. All the data required

for this analytical study has been obtained mainly from secondary sources.

The data taken from magazines, abstract books, newspaper, google etc. The paper

incudes the data as table from to explain FDI. Investment in india.

Suggestions

• The companies for investment there is a need to extend a friendly environment

for foreign investor by providing essential guarantees for investors to (a) Enter

and Exit (b) Operate on equal terms alongside local operator and (c) Repatriate

their inventment needed.

• The government has to ensure the equitable distribution of inflows among

states and has to give more freedom to states, so that they can attract in flows at

their own level.

• The government can encourage FDI investors to part their fund in sectors like

energy, communication, infrastructure and other essential sectors.

• Empower Foreign Investment Implementation authority (FIIA) for expediting

administrative and policy approvals.

• The government has to formulate the policies to attract more foreign investment

in manufacturing sector instead of service sector.

• India can take advantage of its low labour cost and attractive investments.

However, the low costs need nor necessarily equate with productivity. Thus

importance to be on rational labour policies, which protect the interest of both

workers and employers through fair labour practices and arbirtation.

Conclusion

As evidence by analysis and data the concept and material significance of FDI has

evolved from the shadows of shallow understanding to a proud show of force.

Developing countries emerging economies and countries in transition have come

increasingly to see FDI as a source of economic development and modernization

income growth and employment countries have libralized there FDI regimes pursused

other policies to attract investment. They have addressed the issue of how best to

pursue domenstic policies to maximized the benefit of foreign presence in the

domestic economy. The study foreign direct investment of development attempts

primarily to shed light on the second issue by focusing on the over all effect of FDI

on micro- economic growth and other welfare enhacing process and on the channels

through which the benefits take effects.

The overall benefits of FDI for developing country economies are well documented.

Given the appropriate post country policies and basic level of development,

prepondrance of study shows that FDI treagure technology spill overs, assists human

capital formation contribute to international trade integeration, helps creator more

competetive bussiness environment and enhances enterprise development. All of

these contribute to higher economic growth, which is the most potent tool for

alleviating poverty in developing countries, On the basis of study we drawn

conclusion that maximum global foreign investment flows are supplementing the

scare domestic investments in developing friendly technique to maximize their profit.

These investment met the financial requirement for building up the basic and essential

infrastructure industries of priority sector. But we finds that the highest amount of

FDI gone to Financial Sector, Insurance Sector, Real Estate and Business Services.

References

5. Aitken, B.G.H Hanson and A.E. Harrison (1997), “ Spillovers, Foreign

Investment and Export Behaviou”.

6. Me Mello, Jr and R Luiz (1997), “Foreign Direct Investment in developing

countries and growth. Aselective survey”, Journal of development studies,

34,1,1-34.

7. S. Sinha Swapna Etal (2007), “Comparative analysis of FDI in china and

India”, Journal of Asia Entrepreneurship and Sustainability.

8. KPMG Corporate tax Rates Survey USA (2004).

9. Bhandari, L.S. Gokara. A Tandon 2002,” background paper: Reforms and

Foreign direct Investment in India, DRC working Paper reform and foreign

direct.

10.Gupta K.L and HarvinderKaur, New Indian Economy, “New Indian economy

and reforms” Deep and deep and Deep publication Pvt. Ltd. New Delhi.

7.www.investindia.gov.in

8.www.makingindia.com

INDIAN CORPORATE SOCIAL RESPONSIBILITY IN 21ST CENTURY : ISSUES AND CHALLENGES

Sumit Prasad(Faculty of Commerce & Management, College of Commerce, Arts & Science, Patna, Bihar)

Abstract

The Companies Act, 1956 is replaced with The Companies Act, 2013 and 'corporate social

responsibilities' (CSR) has been made mandatory for a particular class of companies. There has to

be an all inclusive growth of the society with the growth of the companies. Perhaps keeping this in

mind, Indian law makers brought this law. In this paper CSR practices followed by different

companies have been studied to understand the issues and challenges ahead. This paper try to

analyze the study of CSR status in India. The main focuses on the issue and challenges faced by its

activities in India.

The Sanskrit saying ‘Atithi Devo Bhav’, means—‘the one who comes to you for being served,

should be taken to be as God’, is considered as the highest order of responsibility, be it to

individuals or the society. Thus, the phrase Social Responsibility has its roots in Indian context.

Corporate Social Responsibility (CSR) is a term describing a company’s obligation to be

accountable to all of its stakeholders in all its operations and activities.

Key words: Corporate social responsibility, CSR, CSR practices, CSR ethics etc.

INTRODUCTION :

The importance of CSR emerged significantly in the last decade. Over the time, CSR expanded to

include both economic and social interests. Along with this it also broadened to cover economic as

well as social interests. Companies have become more transparent in accounting and display public

reporting due to pressures from various stakeholders. It is possible for companies to behave in the‖

desired ethical and responsible manner towards consumers, employees, communities, stakeholders

and environment. They have started incorporating their CSR initiative in their annual reports. CSR

is an entry point for understanding a number of firm-related and societal issues and responding to

them in a firm‘s business strategy. However, there is a universal and prominent view on protecting

the environment and stakeholders interests. Emerging economies like India have also witnessed a‖

number of firms actively engaged in CSR activities, and the Ministry of Corporate Affairs has come

up with voluntary guidelines for firms to follow. Companies in India have quite been proactive in

taking up CSR initiatives and integrating them in their business processes

CONCEPT OF CORPORATE SOCIAL RESPONSIBILITY :

Corporate social responsibility means conducting business in an ethical way and in the interests of

the wider community and responding positively to emerging societal priorities and expectations. It

is a willingness to act ahead of regulatory confrontation and balancing shareholder interests against

the interests of the wider community for becoming a good citizen. The nature and scope of

corporate social responsibility has changed over time. The concept of CSR is a relatively new one

the phrase has only been in wide use since the 1960s. But, while the economic, legal, ethical, and

discretionary expectations placed on organizations may differ, it is probably accurate to say that all

societies at all points in time have had some degree of expectation that organizations would act

responsibly.

OPINIONS OF VARIOUS INDIAN CORPORATES :

Ratan. J. Tata, Chairman, Tata Group: The developing world has two options. The first is to sit

back and react when problem arises. The second is to act as a conscious citizen and rise above our

vested interest for the sake of future generation, so that the history does not records that we have

deprived them of their livelihood.

Azim Premji, Chairman of Wipro limited, (1998): Corporate Social Responsibility aims at

fundamental social development. In Indian context, it means an attempt to realize the vision of just,

humane and equitable society and where every action, however small, is driven by this larger

vision, that is real social action.

Narayana Murthy, Infosys Founder (2012): social responsibility is to create maximum shareholder

value working under the circumstances, where it is fair to all the stakeholders, workers, consumers,

community, government and the environment.

Dr. Abdul Kalam, former President of India (2012): Sustainable development refers to a mode of

human development in which resource use aims to meet human needs while preserving the

environment so that these needs can be meet not only in present, but also for the generations to

come.

OBJECTIVES OF THE STUDY

11. To study the CSR status in India.

12. To understand the meaning and various models of CSR.

13. To study the policies governing CSR in India.

14. To study the issues & challenges faced by CSR in India.

15. To make suggestions for accelerating CSR initiatives.

16. To conduct inter-disciplinary and collaborative research and document case studies in

thrust areas of CSR dealing with contemporary issues and challenges.

RESEARCH METHODOLOGY :

Looking into requirements of the objectives of the study the research design employed for the study

is of descriptive type. Keeping in view of the set objectives, this research design was adopted to

have greater accuracy and in depth analysis of the research study. Available secondary data was

extensively used for the study. The investigator procures the required data through secondary survey

method. Different news articles, Books and Web were used which were enumerated and recorded.

CSR IN INDIA :

In developing economies like India, CSR is seen as part of corporate philanthropy in which

corporations augment the social development to support the initiatives of the government. However

with time, the scenario of CSR has changed from being philanthropic to being socially responsible

to multi stake holders. The period of 1960s and 1970s saw an emergence of CSR activities being

inbuilt in corporate philanthropy. (Mohan, 2001). India has been named among the top ten Asian

countries paying increasing importance towards corporate social responsibility (CSR) disclosure

norms. India was ranked fourth in the list, according to social enterprise CSR Asia's Asian

Sustainability Ranking (ASR), released in October 2009. ‗Sustainability in Asia ESG reporting

uncovered‘ (September 2010) is based on four parameters viz. General, Environment, Social and

Governance. In its study based on 56 companies in India, it observed that India is ranked second in

country ranking in Asia and is ranked one ranking in general category. It is observed that reporting

is strongly followed by companies as well as they seek international development standards. It

could be attributed to the Indian government compelling the public sector companies to provide for

community investment and other environmental, social and governance liabilities.

A key finding of the survey conducted in June 2008, aimed at understanding of the role of

corporations in CSR, carried out by TNS India ( a research organization) and the Times Foundation,

revealed that over 90 per cent of all major Indian organizations surveyed were involved in CSR

activities. Besides the public sector, it was the private sector companies that played dominant role in

CSR activities. A study on the CSR activities of 300 corporate houses, conducted by an industry

body in June 2009, revealed that Corporate India has spread its CSR activities across 20 states and

Union territories, with Maharashtra gaining the most from them. The study also revealed that about

36 per cent of the CSR activities are concentrated in the state, followed by about 12 per cent in

Gujarat, 10 per cent in Delhi and 9 per cent in Tamil Nadu. The

companies have on an aggregate, identified 26 different themes for their CSR initiatives. Of these

26 schemes, community welfare tops the list, followed by education, the environment, health, as

well as rural development.

CSR GREEN MEASURES :

According to a National Geographic survey which studied 17,000 consumers in 17 countries,

Indians are the most eco-friendly consumers in the world. India topped the Consumer Greendex,

where consumers were asked about energy use and conservation, transportation choices, food

sources, the relative use of green products versus traditional products, attitudes towards the

environment and sustainability and knowledge of environmental issues.

• Reliance Industries and two Tata Group firms—Tata Motors and Tata Steel—are the

country's most admired companies for their corporate social responsibility initiatives,

according to a Nielsen survey released in May 2009.

• As part of its Corporate Service Corps (CSC) programme, IBM has joined hands with the

Tribal Development Department of Gujarat for a development project aimed at upliftment of

tribal in the Sasan area of Gir forest.

• The financial services sector is going green in a steady manner. With an eye on preserving

energy, companies have started easing the carbon footprint in their offices. The year 2009

witnessed initiatives including application of renewable energy technologies, moving to

paperless operations and recognition of environmental standards. Efforts by companies such

as HSBC India, Max New York Life and Standard Chartered Bank have ensured that the

green movement has kept its momentum by asking their customers to shift to e-statements

and e-receipts.

• State-owned Navratna Company, Coal India Ltd (CIL) will invest US$ 67.5 million in 2010-

11 on social and environmental causes.

• Public sector aluminum company NALCO has contributed US$ 3.23 million for

development work in Orissa's Koraput district as part of its Corporate Social Responsibility

(CSR).

ISSUES OF CSR :

Many companies think that corporate social responsibility is a peripheral issue for their business

and customer satisfaction more important for them. They imagine that customer satisfaction is now

only about price and service, but they fail to point out on important changes that are taking place

worldwide that could blow the business out of the water. The change is named as social

responsibility which is an opportunity for the business. Some of the drivers pushing business

towards CSR include:

• The Shrinking Role of Government

In the past, governments have relied on legislation and regulation to deliver social and

environmental objectives in the business sector. Shrinking government resources, coupled with a

distrust of regulations, has led to the exploration of voluntary and non-regulatory initiatives instead.

• Increased Customer Interest

There is evidence that the ethical conduct of companies exerts a growing influence on the

purchasing decisions of customers. In a recent survey by Environs International, more than one in

five consumers reported having either rewarded or punished companies based on their perceived

social performance.

• Growing Investor Pressure

Investors are changing the way they assess companies' performance, and are making decisions

based on criteria that include ethical concerns. The Social Investment Forum reports that in the US

in 1999, there was more than $2 trillion worth of assets invested in portfolios that used screens

linked to the environment and social responsibility.

• Competitive Labour Markets

Employees are increasingly looking beyond paychecks and benefits, and seeking out employers

whose philosophies and operating practices match their own principles. In order to hire and retain

skilled employees, companies are being forced to improve working conditions.

• Supplier Relations

As stakeholders are becoming increasingly interested in business affairs, many companies are

taking steps to ensure that their partners conduct themselves in a socially responsible manner. Some

are introducing codes of conduct for their suppliers, to ensure that other companies' policies or

practices do not tarnish their reputation. Dr Ratnam said the concept of CSR had different meanings

depending on the stakeholder and that depending on the specific situation of the enterprises

expectations can also vary.

CHALLENGES OF CSR :

• Lack of Community Participation in CSR Activities:

There is a lack of interest of the local community in participating and contributing to CSR activities

of companies. This is largely attributable to the fact that there exists little or no knowledge about.

CSR within the local communities as no serious efforts have been made to spread awareness about

CSR and instill confidence in the local communities about such initiatives. The situation is further

aggravated by a lack of communication between the company and the community at the grassroots.

• Need to Build Local Capacities:

There is a need for capacity building of the local nongovernmental organizations as there is serious

dearth of trained and efficient organizations that can effectively contribute to the ongoing CSR

activities initiated by companies. This seriously compromises scaling up of CSR initiatives and

subsequently limits the scope of such activities.

• Issues of Transparency:

Lack of transparency is one of the key issues brought forth by the survey. There is an expression by

the companies that there exists lack of transparency on the part of the local implementing agencies

as they do not make adequate efforts to disclose information on their programs, audit issues, impact

assessment and utilization of funds. This reported lack of transparency negatively impacts the

process of trust building between companies and local communities, which is a key to the success

of any CSR initiative at the local level.

• Non-availability of Well Organized Non-governmental Organizations:

It is also reported that there is non availability of well organized nongovernmental organizations in

remote and rural areas that can assess and identify real needs of the community and work along

with companies to ensure successful implementation of CSR activities. This also builds the case for

investing in local communities by way of building their capacities to undertake development

projects at local levels.

• Lack of Consensus on Implementing CSR Issues:

There is a lack of consensus amongst local agencies regarding CSR projects. This lack of consensus

often results in duplication of activities by corporate houses in areas of their intervention. This

results in a competitive spirit between local implementing agencies rather than building

collaborative approaches on issues. This factor limits company‘s abilities to undertake impact

assessment of their initiatives from time to time.

NOTABLE WORK BY SOME COMPANIES :

• Tata Consultancy Services

Its Computer Based Functional Literacy (CBFL) initiative for providing adult literacy has already

benefitted 1.2 lakh people. The programme is available in nine Indian languages. Besides adult

education, TCS also works in the areas of skill development, health care and agriculture.

• Bharat Petroleum Corporation

Its rain water harvesting project Boond, in association with the Oil Industries Development Board,

selects draught-stricken villages to turn them from „water-scarce to water-positive . Some of‟

BPCL s other social programmes include adoption of villages, prevention and care for HIV/AIDS‟

and rural health care.

• Indian Oil Corporation

It runs the Indian Oil Foundation (IOF), a non-profit trust, which works for the preservation and

promotion of the country‘s heritage. IOCL also offers 150 sports scholarships every year to

promising youngsters. Some of its other initiatives lie in the domains of clean drinking water,

education, hospitals and health care.

• Mahindra & Mahindra

Nanhi Kali, a programme runs by the KC Mahindra Education Trust, supports education of over

75,000 underprivileged girls. The trust has awarded grants and scholarships to 83,245 students so

far. In vocational training, the Mahindra Pride School provides livelihood training to youth from

socially and economically disadvantaged communities. M&M also works for causes related to

environment, health care, sports and culture.

• Axis Bank

The Axis Bank Foundation runs Balwadis which are learning places for children living in large

urban slum clusters. It also conducts skill development programmes (PREMA and Yuva Parivartan)

in motor driving, welding, mobile repairing, tailoring etc, for the youth in backward districts.

FINDINGS & SUGGESTIONS :

CSR policy functions as a built in self regulating mechanism whereby business monitors and

ensures its active participation towards the society. The compliances fulfill the gap realized by the

absorption of business benefits. The potential benefits of the business – the scale and nature of the

benefits of CSR for an organization can vary depending on the nature of the enterprise, as a result it

is difficult to quantify. Business solutions are often revealed with the smooth functioning of the

philanthropic means. The correlation between social performance and financial performance often

originates CSR.

Companies can set a network of activities to be taken up in a consortium to tackle major

environmental issues. It would also provide an opportunity to learn from each other. Everyone in

the organization needs to recognize their own role in promoting CSR. Companies should provide

wider professional development activities. Training, conferences and seminars could be organized

by companies to disseminate and generate new knowledge and information in this sector.

CONCLUSION :

The concept of corporate social responsibility is now firmly rooted on the global business agenda.

But in order to move from theory to concrete action, many obstacles need to be overcome. A key

challenge facing business is the need for more reliable indicators of progress in the field of CSR,

along with the dissemination of CSR strategies. Transparency and dialogue can help to make a

business appear more trustworthy, and push up the standards of other organizations at the same

time.

REFRENCES :

RBI Notification.(2007) .CSR in Indian Banks, Corporate Social Responsibility, Sustainable

Development and Non- Financial Reporting- Role of Banks,RBI/2007- 08/216:DBOD No

Dir.BC.58/13.27.00/2007- 08,Dec.20.

S. K. Chaudhury, S. K. Das and P. K. Sahoo, ―Practices of corporate social responsibility

(CSR) in banking sector in India: an assessment, research journal of economics, business,‖

volume 4, pp.76, 2011P.

Sunder, Beyond Business: From Merchant Charity to corporate citizenship, New Delhi: Tata

McGraw-Hill, 2000

B. Scholtens, ―Finance as a Driver of Corporate Social Responsibility, ―Journal of

Business Ethics, vol. 68, no. 1, pp. 19-33, sep 2006.

J. M. Rose, ―Corporate Directors and Social Responsibility: Ethics versus Shareholder

value, Journal of Business Ethics, vol. 73, no. 3, pp. 319-331, jul 2007.

www.csrquest.net/defalt.aspx?articleID=12770&heading

http://ec.europa.eu/enterprise/policies/sustainable-business/corporate-socialresponsibility

TECHNOLOGY SOCIAL VENTURE: AN EFFECTIVE TOOL TO ENHANCE SOCIAL

ENTREPRENEURSHIP

Rashmi Shekhar(Assistant Professor-IT, Amity University, Patna)

Vinita Verma(Assistant Professor-Marketing and HR, Amity University, Patna)

AbstractSocial problem is a particular social phenomenon or condition that disturbs the social order and hinders smooth working of social institutions. In the beginning such conditions are ignored as they do not have any adverse effects on the social system. But such ignorance leads to the accumulation of adverse effects which as a result begin to affect normal social life. The adverse effect on social life is recognised as a social problem. Once the social problem becomes the roots, it starts developing beyond the bounds of tolerance .Those social problems arises antipathy against it and there is a demand for remedy in the interest of social harmony.A social problem is a part of society .Society is an entity which consists of group of individuals involved in pursuit of social interaction sharing the same geographical or social territory. People in the society resist change as it is painful, time taking and costly. Change can be defined as to cause to be different, to transform. On the other hand the society needs to constantly innovate to succeed. Innovation having technological creativity helps in making things better, faster, or cheaper than the existing competition. Technology combined with innovation can be used to solve problems in large scale and in a cost effective way. Moreover, it can be replicated easily which can become the answer in solving many societal problems. Hence, Social entrepreneurship merged with technology is an innovative way to solve major societal problems rather than creating individual wealth. Social entrepreneurship is a new concept for today’s volatile economy as it solves the social problems prevailing in the society(Nichols, 2008; Mair and Marti, 2006). Social entrepreneurship is a process which starts from an ongoing interaction between social entrepreneur and their activities ( Mair and Marti,2006).It involves the initiatives aiming at what is deficient or non-functioning in the society, introducing new solutions to create a sustainable society through the application of entrepreneurial logic (Gawell M, Johannisson B, Lundqvist M.,2009). It is somewhat similar to traditional entrepreneurship with some basic differences (Dhesi AS,2010).

Nicholls (2008) implies that social entrepreneurship falls in between the two recognised areas of non-profit business management and economic studies.The Skoll Foundation also envisages social entrepreneurship as a foundation with a vision for driving large-scale transformation and creating a sustainable world of peace and prosperity. Social entrepreneurs can be projected as “society’s change practitioners, creators of innovations that disrupt the status quo and transform the world for the better” (Skoll Foundation, 2013) .

Dacin et al. (2010) summarise other aspects of social entrepreneurship. It is a process for non-profit organisations or governments using business models, commercial organisations practising corporate social responsibility, philanthropy’s consequences, or financially sustainable organisations creating social value.

For a sustainable and progressive society technology plays a vital role .The term “technology” refers to “the application of scientific knowledge for practical purpose” (Oxford Dictionaries, http://oxforddictionaries.com). Technology Social Venture is the new paradigm to satisfy social needs through technological innovation in a financially sustainable manner. It falls at the intersection of Social Entrepreneurship and technology innovation. It’s true that technology do not provide solution to all the social problems, still there is some big philanthropic organization like Bill Gates Foundation; McArthur

Foundation etc. who are providing innovative technology based solutions to solve many social problems.

Technological and industrial breakthroughs have been increasing the gap between rich and poor. However, these innovations make lives easier, more efficient and productive. Social Entrepreneurship with TSVs is seen as a pathway to the solutions of social problems facing modern society.

In this research technology means innovation or the application of science for the purpose of solving social problems. Innovation is seen as an integral element to ensure economic growth and prosperity (Horwitch, M. and B. Mulloth ,2010). The term technology in this article will mainly refer to digital technologies and product innovations that are specifically designed to react to social issues. Social entrepreneurship and Technology are interrelated to create a new venture i.e Technology Social Venture (TSV).It represents a unique tool of social venture or enterprise which attempts to satisfy a social need or cause with the help of technology .

In the initial stage TSV’s may requires more investment than traditional social ventures but they can be replicated across regions or projects with less expense and at a faster rate ( Desa, G. and S. Kotha ,2005).Historically, technological and industrial breakthroughs have been increasing the gap between rich and poor. However, these innovations make lives easier, more efficient and productive .Social Entrepreneurship is seen as a pathway to the solutions of some major problems facing modern society. Innovation is seen as an integral element to ensure economic growth and prosperity (Horwitch,M. and B.Mulloth,2010). Innovations acts as a catalyst for social entrepreneurship (Christensen et al., 2006).

TSV is the merger of social entrepreneurship and technology entrepreneurship which uses knowledge bridging mechanism for innovation to solve social problems (Desa, G., & Kotha, S.,2006).One of the best examples of TSVs in SE is Voxiva. It has innovated a technology solution for the solution to social health problems by tracking diseases and monitoring the patients. It has also innovated technology to report crimes as well as to respond to natural disasters in many regions of the developing world through the use of internet, phone or text-messaging

Rationale of the StudyTechnology has the potential to transform human development. As inequalities in education, healthcare, human rights, and economic development continue to prevail, entrepreneurs around the world are beginning to address social problem. Although TSV is becoming an attractive study for many researchers but still there is a lack of research on various aspects of development ,importance and importance looking at technology’s role in social entrepreneurship. This article aims to tackle the social problem through the use of Technology Social Venture (TSV). TSVs are a subset of social enterprises which attempt to meet a social need through a technological innovation. The researchers hope that in future more conceptual and empirical studies will be undertaken by different academicians. We feel it needs extensive research in future as it is beneficial for solving social problems in the societyObjectiveTSVs address the twin corner stones of social entrepreneurship, financial return and social impact through technology. It include non-profit, for-profit, and government ventures that develop and deploy a technology to meet a social need. In order to understand how TSVs mobilize resources and create innovative products when a social need exists especially when the target demographic does not have resources to avail such benefits.The objective of this paper can be summarised as following:

20. To study the role and importance of TSV in the Social Entrepreneurship (SE) .21. To suggest a theoretical framework for effective implementation of TSVs in SE.

Research MethodologyThis paper is conceptual in nature. It investigates the above objective with the help of relevant literatures and other secondary sources. It adopts comparative methodology to analyse the prevailing benefits of TSVs . This paper adopts a two-phase research design. In first phase the secondary data will be collected to study the role and importance of TSV in Social Entrepreneurship in India. In second phase this paper will give a theoretical framework showing how TSVs can be efficiently and effectively implemented with Social Entrepreneurship to solve social problems on large scale. ReferencesNicholls, A. (2008). Social entrepreneurship: new models of sustainable social change.Oxford: Oxford University Press.

Horwitch, M. and B. Mulloth (2010). The emerging complexity of business and social entrepreneurship: Two clean technology ventures in New York City as cases in point, IEEE.

Gawell M, Johannisson B, Lundqvist M. Entrepreneurship in the name of society. Stockholm:Knowledge Foundation 2009.

Dhesi AS. Diaspora, Social entrepreneurs and community development. International Journal of Social Economics 2010; 37(9): 703-716.Desa, G. and S. Kotha ,(2005). Ownership mission and environment: an exploratory analysis into the evolution of a technology social venture, Palgrave: New York. Desa, G., & Kotha, S., (2006). Technology social venture and innovation: process at Benetech. The New Social Entrepreneurship: What Awaits Social Entrepreneurial Ventures?, 237

Mair, J., & Marti, I. (2006). Social Entrepreneurship Research: A Source Of Explanation,Prediction, And Delight. Journal of World Business, 41(1), 36-44.

Skoll Foundation. Retrieved August 20, 2013, from http://www.skollfoundation.org/about Technology drives Africa transformation. Financial Times. Retrieved September 04, 2013,from http://www.ft.com/cms/s/0/2aedbe2e-8c9e-11e2-8ee0-00144feabdc0.html#axzz2blshunHR

Dacin, P. A., Dacin, M. T., & Matear, M. (2010). Social Entrepreneurship: Why We Do not Need a New Theory and How We Move Forward From Here.. Academy of Management Perspectives, 24(3), 37-57.

Christensen CM, Baumann H, Ruggles R, Sadtler TM. (2006). Disruptive innovation for social change. Harvard Business Review (December) 94-101.

SUSTAINABLE RURAL DEVELOPMENT WITH RURAL MARKETING IN INDIA

Smrity Suman(Research Scholar, University Department of Commerce & Business Administration

T.M. Bhagalpur University, Bhagalpur)

Abstract

Rural marketing involves delivering manufactured or processed inputs or services to rural producers

or consumers so as to soak up the huge size of the untapped rural market. In today’s congested and

difficult markets, both local and global, all FMCG as well as other companies search for new

opportunities, consumers and markets. The 800 million potential consumers in rural India presented

both an opportunity and a problem, as this market has been characterized by unbalanced growth and

infrastructural problems. Thus looking at the opportunities which rural markets offer to the

marketers it seems that the future is very promising for those who can understand the dynamics of

rural markets and exploit them to their best advantage.

Keywords: Rural Marketing, Inputs, Services, Consumer, FMCG, Opportunities, Problem

Introduction Rural marketing is a two way marketing process. The content now encompasses not only marketing

of products which flow to rural areas, but also products which flow to urban areas from rural areas.

In addition, it also includes the marketing in the rural areas. A few years back, the rural market in

India was an unknown area and many companies were not interested in entering the rural markets in

India, as the demand pattern was fragile, seasonal, poor purchasing power of people, etc.

Communication, transportation and infrastructure were the main blocks for growth of rural markets

and penetration of urban products in rural markets. But these things of the past have been changed.

Now everyone is looking at rural markets as the next growth driver in Indian market. Importantly,

the wider reach of media and telecommunication services has provided information to India’s rural

consumers and is influencing their purchase decisions. In line with general trend, rural consumers

are evolving towards a broader notion of value provided by products and services which involves

aspects of price combined with utility, aesthetics and features, and not just low prices. The

hinterlands in India consist of about 650,000 villages. These villages are inhabited by about 850

million consumers making up for about 70 per cent of population and contributing around half of

the country’s Gross Domestic Product (GDP).

Consumption patterns in these rural areas are gradually changing to increasingly resemble

the consumption patterns of urban areas. Some of India’s largest consumer companies serve one-

third of their consumers from rural India. Owing to a favourable changing consumption trend as

well as the potential size of the market, rural India provides a large and attractive investment

opportunity for private companies. Rural marketing in India is sometimes mistaken by people who

think rural marketing is all only about agricultural marketing. Rural marketing determines the

carrier of business activities from urban sectors to the rural regions as well as the marketing of

various products manufactured by the non-agricultural workers from rural to urban areas.

Objectives of the Study

1. To understand the rural marketing in India.

2. To study the importance of rural marketing.

3. To study the development of rural marketing and

4. To study the initiatives taken by the government to improve rural markets.

Methodology

The study is a descriptive method. The Secondary data were collected from different sources, such

as, text books, magazines, articles and websites.

Rural Marketing in India

The concept of rural marketing in Indian economy has always played an influential role in the lives

of people. In India, leaving out a few metropolitan cities, all the districts and industrial townships

are connected with rural markets. The rural market in India is not a separate entity in itself and it is

highly influenced by the sociological and behavioral factors operating in the country. The rural

markets in India bring in bigger revenues in the country, as the rural regions comprise of the

maximum consumers in this country. The rural market in Indian economy generates almost more

than half of the country’s income. Rural marketing in Indian economy can be classified under two

broad categories. These are (a) the markets for consumer goods that comprise of both durable and

non-durable goods, and (b) the markets for agricultural inputs that include fertilizers, pesticides,

seeds, and so on. The concept of rural marketing in India is often been found to form ambiguity in

the minds of people who think rural marketing is all about agricultural marketing. However, rural

marketing determines the carrying out of business activities bringing in the flow of goods from

urban sectors to the rural regions of the country as well as the marketing of various products

manufactured by the non-agricultural workers from rural to urban areas.

Indian Rural Market

22. The Fast Moving Consumer Goods (FMCG) sector in rural and semi-urban India is estimated to

cross US$ 100 billion by 2025.

23. The rural FMCG market is anticipated to expand at a CAGR of 17.41 per cent to US$ 100

billion during 2009 – 2025.

24. Rural FMCG market accounts for 40 per cent of the overall FMCG market in India, in revenue

terms.

25. Amongst the leading retailers, Dabur generates over 40-45 per cent of its domestic revenue from

rural sales. HUL rural revenue accounts for 45 per cent of its overall sales while other

companies earn 30- 35 per cent of their revenues from rural areas.

26. Market research firm Nielsen expects India’s rural FMCG market to reach a size of US$ 100

billion by 2025. Another report by McKinsey Global Institute forecasts the annual real income

per household in rural India to rise to 3.6 per cent 2025, from 2.8 per cent in the last 20 years.

Market Size

India’s per capita GDP in rural regions has grown at a Compound Annual Growth Rate (CAGR) of

6.2 per cent since 2000. The Fast Moving Consumer Goods (FMCG) sector in rural and semi-urban

India is expected to cross US$ 20 billion mark by 2018 and reach US$ 100 billion by 2025@.

Importance of Rural Marketing

In recent years, rural markets have acquired significance in countries like China and India, as the

overall growth of the economy has resulted into substantial increase in the purchasing power of the

rural communities. On account of the green revolution in India, the rural areas are consuming a

large quantity of industrial and urban manufactured products. There are a few things which make

rural marketing important to the corporate (especially in India) and lucrative for people hoping to

make a career out of it.

27. It is very difficult to make the same marketing strategies to work in the efficient

urban space having a much higher level of media penetration like TV and

broadband internet which is lacking still to an extent in the rural areas. This

makes reaching to the customer a completely new problem.

28. Also, urban consumers have Hindi and English usually as a common language

while the rural areas may or may not respond favorably to only these two

languages, which means that the marketing content for rural consumers has to be

customized to his culture and language. This is the second major differentiator

from traditional marketing which has common content throughout the country.

29. The population density in the rural areas is very low as compared to cities, which

means it takes much more effort and resources to reach the same number of

people as mass media reaches in the cities.

The above factors make it important from a company’s perspective to have a specialized person in a

position handling rural marketing. From a person’s point of view it is becoming more and more

important because of the growth in the income levels and the propensity of the rural consumer to

buy high quality branded products. With the increase in demand for these products from rural areas,

the demand for rural marketing experts too would rise.

Developments of Rural Marketing in India

Following are some of the major investments and developments in the Indian rural sector

aa. India’s unemployment rate has declined to 4.8 per cent in February 2017 compared to 9.5

per cent in August 2016, as a result of the Government’s increased focus towards rural jobs

and the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)

scheme.

ab. The Ministry of Rural Development is expecting to achieve its annual targeted length of

48,812 kilometers of rural roads by March 31, 2017 under the Pradhan Mantri Gram Sadak

Yojana (PMGSY), which has reached a completion stage of 67.53 per cent (32,963 kms) as

on January 27, 2017.

ac. The National Bank for Agriculture and Rural Development (NABARD) plans to provide

around 200,000 point-of-sale (PoS) machines in 100,000 villages and distribute RuPay cards

to over 34 million farmers across India, to enable farmers to undertake cashless transactions.

ad. Magma Fincorp, a Kolkata-based non-banking finance company (NBFC) plans to expand its

operations in South India, with specific focus on rural and semi-urban markets to help the

company grow rapidly.

ae. Bharti Airtel is applying for a payments bank license and has involved Kotak Mahindra

Bank as a potential investor in the venture, in a bid to tap significant revenue opportunities

from the Reserve Bank of India’s financial inclusion initiative. Payments banks are meant to

fan out into the rural, remote areas of the country, offering limited but critical services such

as money transfers, loans and deposit collection. While banks have the knowhow, telecom

companies have the network, making it an ideal match.

Conclusion

Rural markets, as part of any economy, have untapped potential. There are several difficulties

confronting the effort to fully explore rural markets. The concept of rural markets in India, as also in

several other countries, like China, is still in evolving shape, and the sector poses a variety of

challenges, including understanding the dynamics of the rural markets and strategies to supply and

satisfy the rural consumers. Indian rural market is undoubtedly complex but there are some simple

truths that we need to accept. The rural consumers are very value-conscious. They may or may not

have purchasing power, but they can make a difference to the company's growth if concentrated.

Gone were the days when a rural consumer had to go to a nearby town or city to buy a branded

product. The growing power of the rural consumer is an opportunity for the companies to flock to

the rural markets. Gandhiji believed that India's future lay in her villages and rural markets will

have a significant part in India's economy. With the technological innovations, infrastructure

development and enrichment of human capital in rural areas, backed by policy support by the

government recognizes agriculture as one of powerful growth engine.

References

ag. Suchi K. Patel (2013), “The Challenges and Strategies of Marketing in Rural India”,

Asia Pacific Journal of Marketing & Management Review, Vol. 2(7), pp. 38 – 43.

ah. Sudesh Kumar, Bimal Anjum, Suman Nayyar (2013), “Indian Rural Market:

Challenges and Ways Ahead”, Galaxy International Interdisciplinary Research Journal

(GIIRJ), Vol. 1 (2), pp. 84 – 88.

ai. Arshi Talwar, Shweta Popli and Sneha Gupta (2014), “Rural Marketing in India:

Challenges and Opportunities”, International Journal of Engineering and Computer

Science, Vol. 3, Issue. 12, pp. 9404 – 9407.

aj. Preety Panicker, Anup Warrier (2015), “Rural Marketing – Profitability in Rural

Sales”, International Journal of Science and Research (IJSR), Vol. 4, Issue. 5, pp. 1359

– 1361.

ak. Sanal Kumar Velayudhan - Rural Marketing: Targeting the Non-urban Consumer,

Edition2, illustrated

al. R. N. Singh - Rural marketing: thrust and challenges, National Pub. House, 1997

am.Awadhesh Kumar Singh - Rural Marketing: Indian Perspective

an. Rajagopal - Understanding rural marketing

THE ROLE OF HRM IN ORGANIZATIONAL GROWTH AND INNOVATION

Shashi Kumari(Research Scholar, Department of Management, Magadha University, Bodhgaya)

Abstract

This paper attempt to analyze the organization and also highlight the role of HRM in organizational

growth and innovation. Today organizational efficiency and effectiveness largely depends on

strategies, people, and objectives of the organization. Human resource is a great important for the

success of any business and organization. It is a source of strength and help to achieving the goals

of the organization. Human resources are the wealth of an organization which assists the

organizational growth and innovation. Traditionally, HRM function has only hire and fire role to a

partner with finance, operation and other department. These are not profit for the organization. A

short time ago traditional human resource management has made to shift new planned of strategic

human resource management. Human resource managers assume to be the leaders of the

organizational growth .The development of employees or organizational chain of command depends

on the trend of human resource Management. These articles describe the human resource

management, roles of human resource management, organizational growth.

Keywords: Human resource management, Organization, organizational growth, and development

Introduction

Now a day worlds are globalized and it is treated as organizational world. In Organization human

resource is most valuable resource than machine and material. Human resource is of great

importance for the success of any business or social organization. HRM is a basis of power and

helps in achieving the goals of the organization. Human resources are the wealth of an organization

which assists the organization to achieve its goals. Human resource management (HRM) is

concerned with the human being in an organization. It reflects a new philosophy, outlook, approach

and strategy which views organizations manpower as its resources and assets, Human resources can

be defined as the total knowledge, abilities, skills, talents and aptitudes of an organizations

workforce. The values, ethics, attitudes, approaches and beliefs of the individuals operating in an

organization also from a part of human resource. It is the sum total or aggregate of inherent

abilities, acquired knowledge and skills represented by the talents and aptitudes of the persons

working in an organization. In the present complex environment no organization or business can

exist and grow without proper human resources. This is, perhaps, the reason why human resources

have become focus of attention of all progressive organizations of today.

Human resource is a source like any other natural resource. The management can get

and use the skill, knowledge, ability etc. through the development of skills, tapping and utilizing

them again and again. Human resources is that part of the process of management which manages

and develops the human beings of an enterprise. It is not only the administration of skills, abilities

but also the attitudes and aspirations of people. When individuals join and organization, they come

with not only technical skills, knowledge, experienced etc. but also with their personal feelings,

perception, desires, motives, attitude, values etc. So human resource management will mean

management of various aspects of human resources. In simple word human resource management

means employing people, developing their resources, utilizing, maintaining and compensating their

services in harmony with the job and organizational recruitments for the organizational growth.

Organizational Growth Describe on the whole understanding of the association and its functions, as

well as mutually the long-range and short-range recognition and growth of its human resources. It

includes the execute of attractive the efficiency of an Organization and the security of its members

in the course of measured intervention; the position of organized and calculated actions designed

through the organization to give its Members in the company of the needed skills to gather existing

and upcoming job demands. Organization development is the process through which an

Organization develops the internal power to most creatively and successfully offer its assignment

work and to maintain itself above the long term.

Definition

Human resource Management is a part of management process which develops and manages the

human elements of an organization in other word, human resource management means employing

people, developing their resource, utilizing, maintaining and compensating their service in tune with

the job and organizational recruitment.

Objective of HRM

1 To develop the available human resource effectively.

2 To increase the employee’s job satisfaction.

3 To sustain behavior inside and outside the organization.

4 To settle the group goals with organizational goal.

literature

30. Akuamoah worlanyo savior (2016) in their article “The impact of effective

Recruitment and Selection Practice on Organizational Performance (A case study

at University of Ghana)” this article describe the Recruitment &Selection and

also conclude that recruitment and selection is a important extant to determine

the performance of the organization.

31. Vinesh (2014) in their topic “Role of training and development in a an

organizational development” This article describe the role of training

&development and also concluded that investment of training give up great

advantage to the organization and organizational performance is directly related

to training activity,

32. Mrs.B.Naga Parameswari, Mr.V.Yugandhar(2015) in their article discuss the

social significance and personal significance of the HRM and also researcher

concluded that HRM play very important role in organization without HRM

Organization cannot survive.

33. Nadirkolachi & bari Akan (2014) in their article “HRD role in organistional

Development (A case of corporate rhinking of ETISALATE,UAE)” Researcher

discuss A corporate thinking model for morden companies to be in the

competitive race but at good position. He also concluded that corporate thinking

is initiated to achieve rational objectives and maintain the plan standard of the

company,

Role of Human resource Management

Today, organization has become a crucial follower of the human Resource management. The human

resource management concerns the accomplishing people and group in an organization it means

recruiting competent and capable employees in the correct jobs at the correct time at the accurate

cost. The achieving organizational goal and objective human resource management acting most

important roles. Human resource management has to apply various approaches in organization to

achieve these strategy goals and objective. To beat the achievement of the global world

Management follows the some important tactical process. Human resource management tries to

create a better understanding between management and employees. HRM assists employees in

attaining of individual and organizational goals and objectives. Human resource management

connected through the achievement of goals and objective that improves company performance

and development of the organization. Hr m solves the problems that influence the people

management and concentrate on employee motivation.

The growth and development of an organization need to some area of human resource management

concentrate

Human Resource Planning

Human resource planning involves determination of future employee needs to help management in

being proactive HRP help the management in understanding the gap between available employee

and the future needs . This understanding plays an important role in bridging the gap. Human

resource planning is the important managerial function it guarantee right type of people, in the right

number, at the right time and right place, who are well trained and more motivated to do right type

of work at right time. HRP may be viewed as foreseeing the employee recruitment of an

organization and the future supply of employee HRP concerned with the defining objective,

determining human resource need, keeping manpower inventory, adjusting demand and supply of

manpower and creating proper and harmonious work environment for accomplishing organizational

growth.

1 Recruitment and Selection

Recruitment and selection is important function of the human resource management , HRM plays

a vital role in impacting significantly on the growth of the organization in provisions of

achieving its critical goal and objective . Recruitment refers to discovering the sources from where

potential employee may be selected. It is concerned with searching out, attracting and ensuring a

supplied qualified employee and making out selection of requisite manpower both in their

qualitative and quantities aspect. A recruitment process passes by the following stage 1 searching

out where required persons will be available for recruitment. 2 Developing the Technique to attract

suitable candidates. 3 Using good technique to attract candidates. 4 Stimulate candidates as possible

to apply job.

Selection is a process of choosing the right candidates who are most suitable for vacant job position

in an organization. It is important to evaluate attribute of each candidates such their qualification,

skills, experience etc organization spend huge amount of money effort spend for hiring a right

candidates for a position. If a selection is wrong then the cost of training and induction the wrong

candidate will be a huge loss to the employer in terms of money, effort and time. Thus, recruitment

&selection play very crucial role for the organizational growth.

2 Training & Development

Training and development is the field which is link with organizational progress designed to the

bettering the performance of Individuals and groups in organizational setting. In organization

training is required for existing employee and new employee .Training enhance the skill of the

employee. New machine, new tools new method require for increasing the growth of the

organization Training highlighted to the develop employees for their current jobs and development

is preparing employees for future roles and responsibilities. this measurable performance resulting

from good training and development, shall enhance organization development. Training and

development is to innovative knowledge of the organizations which make sure that employees

through importance calculation can effectively achieve their jobs, gains competitive benefit and try

to person development: this measurable growth resulting from good training and development,

shall increase the organizational growth. It is a process transferring information and knowledge and

skill to the employers. It is facilitying employers to interpret that information and knowledge into

practice with a view to increasing organization effectiveness and productivity. Thus, Training

&development play very crucial role for the organizational growth.

3 Performance Appraisal

Performance Management is an important function of HRM that provides the basis for bettering and

increasing performance and is the part of the payment in its most general sense. Performance

management is a process for improving organizational growth through developing the performance

of individuals and teams. It is getting improved results through understanding and managing

performance within an agreed framework of planned goals, standards and competency

requirements. Performance appraisal is formal structured system of measuring and evaluating an

employee ‘job related behaviors and outcomes to discover how and why the employee is presently

performing on the job and how the employee can perform more effectively in the future. So

Performance Appraisal play very vital l role for the organizational growth.

Compensation Administration

Compensation includes direct cash payment, indirect payment in the form of employee benefits and

incentive to motivate employee to strive for higher level of productivity. Compensation and rewards

system play vital role in organizational growth while man, machine, material and moneyman has

been more important factor it is impossible to imagine a business process without man. Every factor

contributes to the process of production. It expect return from the business process such as rent is

return expected by the capitalist expect interest and organizer labor play vital role in production. A

sound compensation system is hallmark of organizations’ success and prosperity .

Conclusion

Human resources management is play a vital role in the success or failure of the organization to

meet their organizational goals objectives. Human resources management covers training and

development. It also supply employee to all levels of management for success of the

organization .The growth of the organization depends on the good human resource function. While I

have talk about different rolls of HRM. Human resource Management is not only responsible for

HR planning and decision making. Through recruitment, training and development HRM selects

right employees for organization which is help to achieve strategic goals and objective. Through

HRM performance appraisal we evaluate not only the performance of the employee but also his

potential for development which makes an organization more efficient. It does not only focus on the

overall strategic goal of an organization, but also manage its human resources. These resources are

helps to maintain the globalization and the effects or HR policies and procedures. The HR

department must not only attract, recruit, selecting and train and develop the employees but also

helps to develop humanized work environment, organizational climates.

Reference

27. Vinesh Article 2014 Role of training and Development in organizational Development vol. 4

Research india publication

28. Akuamoah worlanyo savior article 2016 The impact of effective Recruitment and

development practice on organizational performance (a case study of university of Ghana)

29. Nadirkolchi &Obari Akan Article 2014 HRD Role in Organizational Development (A case of Corporate Thinking of ETISALATE,UAE) Vol.7 No.8 Candian Center of science and Education

30. Mrs. B. Naga Paramerswari ,Mr. V Yugandhar article Role of HRM in Organization Vol.3 IJETMAS

31. www.tutorials point.com

32. R.S.Gupta, B.D. Sharma, N.S.Bhall Book Principles of practice of Management , Kalyani publisher

ROLE OF EMPLOYEE PERFORMANCE APPRAISAL IN DEVELOPMENT OF AN

ORGANIZATION

Mayurakshi Singh(Research Scholar, Magadh University, Bodh Gaya)

Abstract

The concentration of cosmopolitans in humungous numbers has given way to many business houses

including individuals, organised or unorganised groups whether entities in corporate and non-corporate

forms to capture and approach their target audience with effectiveness and easy filtering. In this paper we

are going to analyse and explain specially the ‘boost post’ feature on a Facebook page and conclude

regarding the productive effect of the same on respective businesses. Before we understand the ‘boost post’

feature we need to understand what is ‘organic reach’ and ‘inorganic reach’.

Organic Reach: -

The term organic means naturally. It means there is no artificial creation or false generation of numbers

(visitors) on our respective Facebook page. In simpler sense we are talking about the visitors on our page

who have reached us on the basis of self-interest or on being inquisitive about our organisation, product or

services.

AbstractFrom the joining till date and until retirement employees and employer must know about performance he/she is performing. Because the individual employees performance appraisal helps to estimate whether the performance is effective if not then what needs to be done for it to become so.Human Resource Manager evaluates the performance of individual employee to benefit both employee and employer and the benefit of both finally results in the organization benefit.

As it is very well-known fact that the employee’s performance appraisal plays very important role in development of an organization. Furthermore, to maintain peace, transparency, motivate the employees, and boost up the moral of employees it is very important.

Performance appraisal helps an organization to provide information about individual employee strengths and weaknesses related to the job profile which he/she is performing. This helps Human Resource Department to formulate employee related decisions and polices like training, promotion, demotion, transfer, lay-off and reward distribution and so on. All above are in the category of very crucial decision making which Human Resource Department has to make. Any wrong decision can disturb the industrial development and peace, transparency of an organization. So, here in this article I will discuss how employee performance appraisal system of an organization can support an organization to develop and maximize the productivity of both employee and organization. And can help an organization to maintain harmonious environment within the organization. Keywords - performance appraisal, strength and weaknesses, productivity, transparency, organizational development, harmonious.IntroductionIn today’s scenario, for the growth and development of an organization the human resources are considered as a most important factor. The power of employees is more important than the infrastructure and technical knowledge for the positive growth of an organization. The organization can face the competitors in the competitive edge by getting the command on management system and on performance appraisal system. This can said now that organization and workforce can

compete in this environment. As it is known that performance appraisal is a method of evaluating the behavior of employees in the workplace. Furthermore, the basic purpose is to find out how well the employee is performing the job and establish a plan of improvement. Performance appraisal is the systematic description of an employee’s job relevant strength and weaknesses. Performance appraisal provides information about the performance ranks basing on which decision regarding promotion, demotion, salary increase and decrease, transfer, reward distribution (monitory and non-monitory) are taken. It provides information about the level of achievement and behavior of employees. This information helps to review the performance of the employees and rectifying performance deficiencies and set new standards of work if necessary. In other words, performance appraisal is carried out to identify the abilities and competencies of an employee future growth and development. It is aimed at ascertaining the worth of the employees to the organization, in which he/she works. Most important benefit of the performance appraisal system for the Human Resource Department is that it provides a document of employee performance over a specific period. This helps the Department to maintain transparency while employee related decision making.What is a performance appraisal?A performance appraisal is a regular review of an employee job performance and overall contribution to a company. Also known as an “annual review,” performance review or evaluation, or “employee appraisal, ”a performance appraisal evaluates an employee’s skills, achievements and growth, or lack thereof, companies use performance appraisals to give employees big-picture feedback on their work and to justify pay increase and bonuses, as well

Definition: Performance appraisal is defined as systematic process, in which the personality and performance of an employee is assumed by the supervisor or manager, against predefined standards, such as knowledge of the job, quality and quantity of output, leadership abilities, attitude towards work, attendance, cooperation, judgment, versatility, health, initiative and so forth.Alo (1999) defines “ performance appraisal is a process involving deliberate stock taking of the success, which an individual or organization has achieved in performing assigned tasks or meeting set goals over a period of time”Objective of Performance Appraisal.1) To maintain records in order to determine compensation packages, wage structure, salaries raises etc.2) To identify the strength and weaknesses of employees to place right men at right job.3) To maintain and assess the potential present in a person for further growth and development.4) To provide a feedback to employees regarding their performance and related status.5) It serves as a basis for influencing working habits of the employees.6) To review and retain the promotional and other training programme.7) To help employees in understanding where they stand in terms of performance.

Performance Appraisal SystemPerformance appraisal is the systematic evaluation of the performance of employees and to understand to abilities of a person for further growth and development. Performance appraisal is generally done in systematic ways. This is as follows.

Performance Appraisal Process

Feedback

Objectives of Performance Appraisal

Establish job Expectations

Design an Appraisal program

Appraise Performance

PerformanceManagement

The figure shown above is a standard performance appraisal process that takes place in an organization, where in each step is important and arranged in a systematic manner. The process is conducted periodically, is usually twice a year, i.e. semi-annual and annually called as mid-term review and annual review respectively.Method of Performance Appraisal is broadly classified into two categories:Post oriented Method (also known as Traditional Methods of Performance Appraisal)- Rating Scales- Checklists- Forced Choice- Critical Incident- Performance Test and Observation- Field Review- Confidential Record- Essay Method- Comparative Evaluation Approaches- Cost Accounting Method Rating ScalesFuture Oriented Methods (also known as Modern Method of Performance Appraisal)- Management By Objectives- Psychological Appraisal- Assessment Centers- 360 – Degree Feedback- 720 – Degree FeedbackObjective of the research:The reason behind this research study is to explore the concept of performance appraisal. And understand how employee performance appraisal system helps an organization to overall growth and development. Furthermore, how it increase productivity of both employee and in consequences organization, how it maintain transparency, control strikes and minimize employee turnover rate, minimize employee absenteeism and also maintain harmonious relationship between employee and employer and between employee and employee. How Performance Appraisal is play important role in industrial relations. How it helps to achieve organizational goal accurately, timely. Review of Literature1. (Stone, 2005), for better performance of employees proper performance appraisal of employees is must. The human resources are very complex as there are individual differences, not two persons are same in every way that is why it is very difficult to judge the human beings nature and performance. But to improve the performance of the organization, first managers have to improve the performance of every single employee of the organization. For this, the performances of both are linked with each other’s performance. So, to accomplish the organizational goal, employee’s level of performance matters very much.2. (Trott, 2003), utilize the resources of the organization is the main purpose of the performance management system. And performance management system helps to spread the awareness of good performance among the employees of an organization. The measurement reports of every employee performance indicate the way to the movement of employees. To achieve the objective of the

Performance Interview

Achieve Appraisal Data

Use appraisal data for appropriate purposes

performance appraisal report. which taken from the employees. Now they can work upon it and can work very hard to improve their overall efficiency. So, this kind of activity finally helps the employees to achieve the desired improvements and like this employees can achieve the organizational goal in timely, accurately and easily.3. (Kalsicas, 2009), the performance assessment of the employees, helps the HR Department to formulate the appropriate training and development plans. And also helps in make decisions regarding various rewards and incentives provided to the employees for the achievement, on the basis of performance evaluation. Because of performance appraisal system employee will be encouraged to work in a better manner, which increase the productivity of an employee, and give their best to the organization. so, in result the organizational goal achieved in timely and accurately. And when organizational goal has been achieved by the help of employee’s efforts than organization provide them rewards. The rewards can be provided in any form such as salary increment, recognition, promotion etc. Research Gap:After analysis of above mentioned literature indicates the most of the studies were understood to be confined. Mainly role of employee performance appraisal in development of an organization. Therefore, to evaluate the role of performance appraisal in development and growth of an organization. This topic is selected.Research Methodology:This research study is an attempt of exploratory research, which is based on secondary data gathered from published sources like: journals, articles, text books, magazines and media reports, google search.

After going through several literature reviews here some points are discussed which helps an organization to develop:-1) Appraisal of individual employee performance – As it is very well known fact now, that for the growth and proper development or can say to achieve organizational goal effectively, accurately and timely the performance level of every single employee matters. Therefore, by the help of performance appraisal an organization can understand the every single employee’s job related strength and weaknesses. And on that basis HR Department formulates training program, which improves skills and boost up the morale of employees. And finally individual employee productivity will increase and in consequences, organization productivity will increase and like that employee performance appraisal system will helpful to exhilarate the organization on upward direction.2) Helps Human Resource Department in maintain transparency –Making decisions, related to employee’s promotion, demotion, transfer, pay increase and decrease, reward distribution etc. are very important and crucial because any kind of wrong decision may disturb the whole organizational system very badly. While decision making of all these, it is must that Human Resource Department should maintain transparency. Therefore, to maintain transparency only performance appraisal report of individual employee can help. 3) Minimize employee grievances –Performance appraisal reports of individual employee are used while making employees job related decisions. This helps manager to avoid biasness, and maintain transparency. Because of that employees have no grievances. This minimizes the trained employee turnover rate and strike. As the productivity of well trained employees is high and wastage of materials become low. Because of that monitory turnover of an organization may become high day by day. Grievances among employees damage the growth and development of an organization too much.4) Helps making decision during layoff situation –When an organization face the situation of layoff in that situation the report of individual employee performance appraisal play very important role for HR Department to make the decision that among all the good performers whom they should select to not continue job further with the organization. Among good performers who those employees are whom performance is less good then those

employees will select for not continue job with the organization. Like that, according to the performance appraisal report of individual employee the very best employees are selected to continue with the organization, with which organization may expect positive growth for the organization.

5) Self-motivated workforce –The organizations face huge problem of employee motivation. But because of performance appraisal system an organization can get self-motivated workforce. In today’s scenario self-motivated workforce is needed for the overall development of an organization. As employees know that the every decision for which they are doing job is taken on the basis of their performance appraisal report. Then they will try to give their 100% and sometimes more than 100%. So, like that organization can get self-motivated workforce which helps very much to keep the organization on high position.6) Fulfill goals of employees and employer –We do jobs only to fulfill our goal which is money and recognition as per “Need Hierarchy Theory” of Abraham Maslow. In short, when lower order needs fulfilled then higher order needs starts playing their role on human mind. So, money helps the employees to fulfill the basic needs because of that he/she doing the job. After that employee needs recognition and respect also. They are doing job because they want to earn money with respect. And which in result fulfill their both needs primary and secondary. While doing efforts to achieving their own goals employees indirectly actually achieving the goals of employer too. If focus on employer they too want good performance from the employees whom productivity must be up to the mark in return of money and other non-monitory benefits which employer giving to employees. So, the performance appraisal system helps both of them to achieve their goals. Therefore, this kind of act of employee and employer ultimately benefits to organization

Conclusion Economy globalization keeps organization under tough competition. Therefore, survival of an organization depends on the performance of every individual employee. Because of this, the performance appraisal system has occupied an important role. As globalization of economy compel the organizations to be more and more competitive, and to face this kind of tough competition individual employee performance matters a lot. If an organization uses performance appraisal method smartly they can achieve organizational growth and overall development of an organization. And can able to run their organization smoothly. Further, can maintain transparency and unbiased while making very crucial employee work related decisions. Employee Performance Appraisal is a tool which helps the Human Resource Department to minimize the problem of strikes, employee turnover rate. And boost the harmonious and peaceful environment in the organization, this decreases the employee job related grievances. All these are the root cause of slow growth and slow development of an organization, which through the help of performance appraisal a manager can minimize.

References- P. Subba Rao (Essentials of human resource management and industrial relations) Himalaya Publication House.- Kelly D. (2006), Human Resource Development; For Enterprise and Human Development, http://ro.uow.edu.au/artspapers/114- Swanson, Richard A. (2008), “A Brief on the Foundations of Human Resource Development”- Swanson, Richard A., Elwood F. Holton iii (2011). “Foundations of Human Resource Development”- www.google,com- https//www.managementstudyguide.com

– https//www.businessjargons.com

ROLE, POTENTIAL AND CONTRIBUTION OF INFORMATION AND COMMUNICATION

TECHNOLOGY (ICT) IN PRODUCTION AND MARKETING OF AGRICULTURAL

PRODUCTS

Vikash kumar singh(Research scholar, University department of commerce and business administration

T.m. Bhagalpur university, bhagalpur)

Abstract

Agriculture sector also known as primary sector is essential for economic growth in any economy including India. Agriculture is an important part of India's economy it has emerged as the essential-growing sector in the global economy since independence. This sector contributing 15.87% of Gross Domestic product(GDP), and employs just a little less than 54.6% of the country's workforce. Agriculture contributes to 6.4% of the total worlds economic production. India is the 2nd larger producer of agricultural products accounts for 7.39% of total global agricultural output. China is the largest contributor accounting for 19.49% of the total global agricultural output. These facts indicate that there is great need for information and information technologies (IT), which can be used to cope with the challenges and changes and to improve agricultural production and marketing.Information and communication technology (ICT) aids provide up-to-date information on the market prices of commodities, inputs and consumer trends which ultimately can improve a farmer's negotiating position and their livelihood. Major aspect of ICT is that accurate information should reach the farmers at the right time to make more sustainable use of on-farm resources. ICT is going to play greater role in agricultural extension as well as private sector agribusiness, market information and market intelligence. IT can help an average Indian farmer to get relevant information regarding agro-inputs, crop production technologies, agro processing, market support, agro-finance and management of farm agri-business. The aim of the paper is to analyse role, potential and contribution of IT in agribusiness and to explain opportunities for use of IT in many fields of agricultural sector. Here this paper review the role of ICT not only in providing greater awareness and knowledge in agriculture technology and information but also in terms of farmer’s attitudes towards trying to adopt new technologies.Keywords: Agriculture, Information and communication technology (ICT), GDP, Marketing, economy, Development

INTRODUCTION Agriculture plays a significant role for economic and social development in most undeveloped countries. Reasons for this include issues of food security and health of people, requirement for increasing yields and food quality improvement. Challenges in agricultural development of every country are great, not only because of fulfilment of increasing demand for food, but because of poverty and malnutrition reduction. Issues are also made more complex as agricultural sector development should be achieved on sustainable manner considering natural environment protection. The Information and Communication Technologies can generate new opening to bridge the gap between information haves and information have-nots in the developing countries. The task force on ‘India as Knowledge Superpower’ emphasized the need to harness ICT for community transformation. The agriculturally prosperous developing countries like India cannot overlook agriculture in such transformation. The emerging ICT have momentous role to perform in agricultural development. There are many possibilities of integration of ICT in agricultural, for the overall agricultural and rural development. The IT Approach for commercial crops, horticultural crops or floriculture have to focus on Integrated System may be for plant nutrition or plant protection. The well established Integrated Plant Nutrition Approach and Management and

Integrated Pest Management (IPM) need to be strengthened with the help of IT Tools. The Post Production Technology (PPT) needs to be utilized properly. The end user, beneficiaries and all concerned especially with export of agricultural produce need to be trained to access the Internet facilities available as one of the most useful IT Tools of the computer era.OBJECTIVE OF THE STUDY 1.To increase the amount of information provided to all participants in agricultural sector and2.To decrease the cost of disseminating the information. 3.To bring farmers ,researchers, scientists, and administrators together by establishing “agricultural online” through exchange of ideas and information.RESEARCH METHODOLOGYThe study has used secondary data from different data sources like RBI, Hand Book of Statistics on Indian Economy, Economic Surveys, Agricultural Statistics at a glance.IMPORTANCE OF ICTThe acronym ICT (Information and Communication Technology) includes all technical means that are used for handling information and facilitating communication, including computers, net-work hardware, communication lines and all the necessary software. In other words, ICT is comprised of information technology, telephony, electronic media, and all types of process and transfer of audio and video signals and all control and managing functions based on network technologies (Celebic and Rendulic, 2011).

ROLE OF ICT IN AGRICULTUREInformation and Communication Technology (IT) has play many roles to perform for agricultural development. Approximately 45 per cent ICT projects of the whole world have been implemented in India and also maximum number of information kiosks has been employed in rural India7. Nevertheless, it was found that majority of the ICT projects in agriculture were put into action in socio- economically developed states of South and North India11, while deprived states are not benefitted by ICT initiatives. Some of the e-Agriculture initiatives in India are indicated below.AgrisnetIt is a comprehensive web portal to broadcast relevant information to farmers, which was initiated and funded by the Ministry of Agriculture, Government of India. The AGRISNET serves farming community by disseminating information and providing services through use of Information & Communication Technology (ICT). It has following goals-•Providing information to the farmers on quality of the inputs and its availability •disseminating information of various government schemes and recommending fertilizers after soil testing• Providing information on latest technologies for increasing productivity in agriculture.Digital greenDigital Green is an international organization, which works with the participatory approach by engaging rural community to improve their livelihood using digital platform. Interactive and self explanatory videos are prepared for farmers by progressive farmers with the assistance of experts. These videos are shown to the farmers at individual level or in groups. The videos are prepared concentrating the requirements and welfare of the rural masses.AkashgangaThis ICT project makes possible the milk collection, fat testing, and payment timely and user friendly manner. It augments the income generation of dairy farmers through incorporation of advanced technology.Kisan Call Centers (KCCs)KCCs were commenced on January 21, 2004 by the Department of Agricultural and Co-operation with the main intend of endowing extension services to the farming community in the local languages. The queries of farmers are tackled by agricultural graduates on help line, toll free number in their local language. The agricultural scientists also visit the field in person to get an idea

about complex agricultural problems to resolve them. Village Knowledge Centers (VKCs)Village knowledge centers of MS Swaminathan research foundation, initiated in 1998 in Pondichery as a gateway of technical information related to agricultural inputs, price of outputs, crop rotation, use of fertilizers and pesticides. Information is disseminated through public address system. AGRONXTAgroNxt platform is multitasking platform for the farmers where farmers can get inputs, agriculture advice, weather condition etc. AgroNxt thrives to contribute to agriculture industry by delivering farmers usable, reliable and timely information that maximizes farm profitability. It assists upholding the agricultural productivity and sustainability.Information technology for agricultural production and marketingInformation technology is playing an important and vital role in agricultural production and marketing. Information technology allows farmers to save time on orders and delivery and getting feedback. In the existing competition, there is a need to rapidly attract new customers as well as retain existing customers. In order to take the real status of agricultural production and marketing there is an urgent need to develop the following items.1. Farmers crop database must be managed. The data base includes the kinds of crops , the size of cultivated area , time of harvest and yield. Farmers of the extension personnel transmit those data via the internet to data base server. Further information provides the farmer with an important instrument for decision making and taking action.2. Crops information service system should be created. This system analyzes the crop data to create some statistical tables. Farmers can access these statistical data by browsing the home page and make their production plan . Changes within the structure of agriculture will probably have an impact on the selection and types of acquisition of software and other integrated system made by the farmers.3. Production technology and information inquiry system should be created. This system integrates the production techno experimental agricultural institutes and agricultural improvement stations. Farmers can find out relevant production information through this inquiry service system.4. Production equipment inquiry service system should be created. This system gathers information from the company of seeds and crop production equipment to build the production equipment’s inquiry service system .At the same time , allow relevant company to access this system and enter their own data . Therefore farmers can order the needed items through this system . Good communication system and information system reinforce commitments to sustainable productivity.The Government of India is giving more thrust on food and information technology sectors towards achievement of economic reforms to achieve high growth rate in production in the years to come. The national agriculture policy announced addresses the challenges arising out of the economic liberalization and globalization. It seeks to strengthen the rural infrastructure to support faster agricultural development. Promote value addition and secure a fair standard of living for farmers and farm workers.

Agricultural Marketing Information Network In IndiaThere are several Ministries/Departments in Government dealing with Agricultural Marketing. The Government’s digital initiatives include Agrisnet, Agris, Agmarknet, Dacnet, Vistarnet, Aphnet, Fishnet, Hortnet Seednet, Ppin, Coopnet, Fertnet, Arisnet, Afpinet, Arinet, Ndmnet, etc, with their independent websites. Recommendations to improve agricultural production and marketing through informationtechnology1. Information Technology for timely market and weather information is key to development in the farming sector. We should tailor our rural Information Technology Policies according to our requirements.

2. There is a need for Integrated Website for all agencies, of both State and Central Government, involved in Agricultural marketing services using ICT like APEDA, APMCs, CWC, SWCs, CACP, CCI, DMI, FCI, JCI, KVKs, MPEDA, NAFED, TRIFED, NCDC, NDDB,NHB, SAMBs etc.3. Establishment of AGMARKNET Nodes at KVKs and Panchayats and computerization of all mandies/ APMCs.4. Wholesale markets should have WiMAX based Internet Hubs.5. There is a need for greater synergy between extension services and market.6. Tele density in rural areas continues to be low, increase in tele-density as an important component of infrastructure development should be taken up.7. Arrangements should be made to introduce electronic scientific grading of agricultural commodities in the markets or for a cluster of markets. SUMMARY & CONCLUSION The role of Information Technology to develop agriculture and quality of life in rural area is well established. IT can help an average Indian farmer to get relevant information regarding agro-inputs, crop production technologies, agro processing, market support, agro-finance and management of farm agri-business. The agricultural extension mechanism is becoming dependent on IT to provide appropriate and location specific technologies for the farmers to furnish timely and proficient advice to the farmers IT can be a best mean not only to develop agricultural extension but also to expand agriculture research and education system. The IT based agricultural information on Net is building up slowly but surely. There is still a lot of work to be done by policy makers to understand and act on this issue because the satellite-based extension through the use of Internet facility still has a long way to go to be "user friendly" for rural people. People who work in the field of satellite based extension should have proper understanding that extension through satellite based communication in rural areas is not impossible but it requires unique administrative, participatory and organizational efforts. Many organizations are supporting a number of SAUs to digitize their technical information on the Web. At the same time research and training organizations, both in public and voluntary sectors are being supported in building their capacity to digitize the rural and agricultural information and make it available on the WWW. Efforts are also being made to connect various districts of our country on the Internet so that the farmers can get all the technical information on the Web sites. If Cyber connectivity will be made available to all India Villages to take benefits of satellite based information and communication technology, the positive change in the face of rural development will be definitely possible. REFERENCES: References:1. India Science and Technology :2008 , S &T for rural India and inclusive growth2. e- mandi - online system for APMC national informatics centre 3. www.agmarknet.nic.in (a farmers centric portal on agricultural marketing)4. National Policy for Farmers, 2018. Department of Agriculture & Cooperation, Ministry of Agriculture, Government of India.5.Ministry of External Affairs (2018) India in Business. Investment and Technology Promotion Division, Govt. of India.6.Department of Agriculture and Cooperation. Ministry of Agriculture, Govt. of India.

GREEN POLITICS-BASED CAUSE-RELATED MARKETING – A STUDY OF SOME

INDIAN COMPANIES

Sunil S Dhanawade(Director, Dr.D.Y.Patil Centre for Management & Research, Chikhali, Pune)

Sham V. Bachhav(Professor, ASM’s IBMR, Chinchwad, Pune)

Abstract

Cause-related marketing is the marketing activity where a social cause is used for the promotion of

a product or a service. One of the popular ‘causes’ of cause-related marketing is Green politics.

Green politics aims at addressing issues like unrestricted consumption of natural resources,

generation and management of wastes, pollution, loss of biodiversity etc.

The purpose of current research study was to find out the general impression of marketers about

Green politics based cause-related marketing and its usefulness in achieving the company’s

marketing objectives. One hundred companies both from the manufacturing and service sector were

selected for this purpose. A suitably designed questionnaire was administered to the marketing

heads of these companies and the collected data was analyzed.

The analysis showed that most of the companies were familiar with the concept of Green politics

based cause-related marketing. Further, most companies believed that this type of cause-related

marketing can be an effective tool for the promotion of their products and services. However, the

companies felt that they may only partially achieve their marketing objective through this tool.

Key Words: Cause Related Marketing, Green politics, Business, Environment, factors, Marketing

I. INTRODUCTIONMost companies recognize that socially responsible activities improve their image among

customers, stockholders, the financial community, and other relevant publics. Ethical and socially

responsible practices are simply good business, resulting not only in favourable image, but

ultimately in increased sales.

Cause-related marketing is a form of societal marketing that has at least one non-economical reason

to the marketing efforts – a certain amount of money from the sales goes to a social cause; the

marketing campaign increases the awareness about a major environmental issue etc. British

Airways appealing its customers to donate the leftover foreign currency for UNICEF through the

‘Change for Good’ campaign is an example of such an effort. Aircel’s ‘Save Our Tigers’ campaign

in India is another. Companies all over the world believe that cause-related marketing will help

them in improving brand image and ultimately increase sales, in addition to addressing some major

social issue.

Green politics is a broad philosophy and social movement regarding concerns for environmental

conservation and improvement of the state of the environment.

One of the most common accusations against marketing is that it is too profit oriented and often

overlooks the best interests of the society. In a way, this is true. A firm may totally satisfy its

customers by offering excellent products and services but, while doing so, may adversely affect the

society. A paper manufacturing unit may, for example, manufacture and supply good quality paper

to the consumer, but will pollute the river during the manufacturing of the paper.

This has resulted in the emergence of the concept of societal marketing. Kotler et al define societal

marketing as ‘to determine the needs, wants and interests of target market and to deliver the desired

satisfaction more effectively and efficiently than competitors in a way that preserves or enhances

the consumer’s and the society’s well being.’ Lazer and Kelley define societal marketing as ‘That

branch of marketing concerned both with the use of marketing knowledge, concepts and techniques

to enhance social ends as well as social consequences of marketing policies, decisions and actions.’

In short, societal marketing is any form of marketing that takes into consideration the needs and

wants of the consumer and the well-being of society. Societal marketing is thus marketing

combined with social responsibility.

Green politics can be defined as a social movement that seeks to influence the political process by

lobbying, activism, and education in order to protect natural resources and ecosystems. Green

politics based cause-related marketing is long recognized as a powerful marketing tool for the

promotion of products and services. Many companies are projecting themselves as ‘Green

Companies’ or their products as ‘Green Products’ through Green politics based cause-related

marketing. The purpose of such a projection is to achieve differentiation and to bring in a change in

consumer behaviour. However, in order to appreciate the environment friendliness of a company

and her products, the consumer has to have a certain degree of ‘Environmental Literacy’. Further,

the Green politics based cause-related marketing by a company should result into a significant

change in consumer behaviour with respect to their willingness to pay more for the environment

friendly products and/or change to the environment friendly brands. Only if this happens, the

companies will be able to fulfill their marketing objectives through the use of Green politics based

cause- related marketing.

II. Review of Literature

Cause-Related Marketing and concern: Definition According to Cause-related marketing (CRM)

Forum CRM is a commercial activity by which business and charities or causes form a partnership

with each other to market an image, product or service for mutual benefits. Adkins (1999) defined

cause -related marketing is a win: win: win scenario where the charity or cause and business win

and indeed where the benefits also extend to consumers and other stakeholders. CRM is defined as

an effective marketing tool for sustainable growth of the society and company. (Bajdor, P., &

Brzezinski, S, 2013). It is found that organization may not be able to overcome negative consumer

attitude by simply forming a CRM alliance, for this it needs a good attitude towards the firms, it

makes little difference whether the charity has positive or negative consumer attitudes (Basil &

Paul, 2006).Varadarajan & Menon, (1988) found that CRM creates a positive effect on corporate

image and companies utilizing this as a marketing tool to increase the sales Volume. Sisodia,

Maheshkar & Vyas, (2013) observe that CRM is responsible for the sales of product, brand image &

described many benefits from this to the firms like it can attract the customer, create positive brand

image, it can raise the fund for the social cause (Kotler & Lee, 2005). Kar & Dadhichi, (2011) have

concluded in their research that there are so many advantages in CRM campaigns especially in

social cause.

III. RESEARCH METHODOLOGY

The research was based on the hypothesis that the selected companies view cause-related marketing

as an effective tool for differentiation of their products or services. Since this was a navigator scale

study and a more comprehensive and systematic study is to follow, those companies were selected

randomly with availability of data as the primary selection parameter. The sample size was 100.

Based on the aforesaid hypothesis, a suitable questionnaire was developed. This questionnaire was

administered to the chosen sample size. The data thus collected was analyzed and interpretations

were drawn.

IV. PRIMARY DATA

Table: 1) Sector wise breakup of the samples

Sample size Manufacturing Service100 67 33

(Data compiled by researcher)

Table 2: Familiarity with the concept of Green politics based cause- related marketing

Sample Size FullyFamiliar

SomewhatFamiliar

NotFamiliar

Can’tSay

100 56 19 25 0 (Data compiled by researcher)

3) Whether the company promotes its products / services through the use of environmental issues

Sample Size Yes Occasionally No100 96 4 0

(Data compiled by researcher)

4) Extent to which the company thinks that their marketing objective is achieved through the use of Green politics based cause-related marketing

Sample Size Totally Partially Not At All Can’t Say100 60 30 0 10

(Data compiled by researcher)

5) Impression about environmental issues being a good cause for marketing of products & services in India

Sample Size Yes To some extent No Can’t Say100 78 18 2 2

(Data compiled by researcher)

6) Impression about the environmental sensitivity of the customers to appreciate the Green politics based cause-related marketing

Sample Size

Sensitive Sensitive to some extent

Not sensitive

Can’t Say

100 8 91 0 1 (Data compiled by researcher)

7) Impression about if the customers would pay extra for an environment friendly product or service

Sample Size

Yes Some may pay

No Can’t Say

100 6 88 2 4 (Data compiled by researcher)

8) Impression about if the customers will change to an environment friendly brand purely for their environmental concern

Sample Size

Yes Some may

change

No Can’t Say

100 22 75 0 3 (Data compiled by researcher)

9) Impression about the extent to which environment based marketing offers a competitive edge to a company in India

Sample Size

To a large extent

Somewhat Not at all Can’t Say

100 4 95 1 0 (Data compiled by researcher)

10) Future plans of the company for the use of environmental issues as a marketing tool

Sample Size

Yes Maybe No Can’t Say

100 99 1 0 0 (Data compiled by researcher)

V. MAJOUR FINDINGS

af. 84% of the respondents said that they were fully familiar with the concept of Green politics

based cause- related marketing. This high percentage suggests the future potential of this

concept being used by other companies. 98% respondents claimed that their companies

regularly used this as a marketing tool.

ag. A far lesser percentage of respondents were, however, certain that this tool would help the

companies achieve their marketing objectives. Only a small percentage of respondents felt

that Green politics was not a good cause for marketing of products & services in India.

ah. Most respondents felt that their customers have enough environmental sensitivity to

appreciate Green politics based cause-related marketing and that the customers would pay

extra for an environment friendly product. However, the respondents were not so sure if the

customers would change to an environment friendly brand purely for their environmental

concern.

ai. Most of the respondents felt that Green politics based marketing offers a competitive edge to

a company in India and almost all certainly planned to use environmental issues as a

marketing tool in future.

VI. CONCLUSION

The present study suggested that Green politics based cause-related marketing is considered as

an important marketing tool by most marketers of the selected population. Further in-depth

studies are required to evaluate the efficacy of this tool. Green politics based Cause-Related

Marketing is a part of social initiatives; it is a relatively new area of study. It has an important

role to play in building trust in the minds of the customers as in an emerging economy like

India, where consumers are looking for functional products which lasts longer and where

obsolescence is not a strong brand image becomes absolutely essential. Although not new,

providing incentives to consumers for participating has become a “must do” in cause marketing

campaigns. Else, just the feel-good factor of making a petition or taking a pledge does the

magic in driving consumer action. Translating consumers’ likes and shares with brand

contribution is a great way to bank on the power of social media. Every organization is doing

something responsible in the society, different organizations have different tactics to attract

their prospective customer in order to generate revenue and capture the market. There are so

many factors which affect the CRM, some of them are customer loyalty, purchase intention,

demographic factors etc. Thus cause related marketing have a great value for any giant

company or organizations to design a strategy for effective marketing tool to build a strong

brand image and enhancing their customer loyalty.

References

[1] Adkins, S., 1999. The wider benefits of backing a good cause, Marketing, September,

20-21.

[2]Bajdor, P., & Brzeziński, S. (2013). Cause related marketing as one of the sustainable

marketing’s dimensions: the essence and practical examples. Polish Journal of Management

Studies 7.

[3]Basil, D.Z., Herr, Paul M. (2006). Attitudinal Balance and Cause Related Marketing: An

Empirical Application of Balance Theory. Journal of Consumer Psychology,16(4), 391-403.

[4]Bronn, P.S., Vrioni, A.B. (2001). Corporate Social Responsibility and Cause Related

Marketing: An Overview. International Journal of Advertising, 20, 207-222.

[5]Hans, A., & Gupta, A. (2013). When celebrity supports the Cause Related Marketing

Communication? Role of Brand-The effects on Consumer attitudes and purchase intentions.

International Journal of New Innovation in Engineering & Technology, 1(4), 49-

[6]Kar, S., Sushmita, D . (2011). Innovations in Cause Related Marketing and leveraging

Impact: Insight from Tata Tea’s Jaago re! Campaign. Marketing Mastermind.

[7]Kotler, P., & Lee, N. (2005). Corporate social responsibility: Doing the most good for

your

company and your cause. Hoboken, NJ: Wiley.

[8]Lee, N., Kotler, P. (2011). Social Marketing influencing behaviors for good.

www.sagepublications.com

[9]Ms. Debbie , Human. (2012). Keeping Cause Related Marketing on the straight and

narrow: Ethical guidelines for campaign design and implementation.

[10] Qamar, N., Lodhi,R.N. (2013). An Empirical Stud of Cause Related Marketing and

Consumer Purchase Decision: Evidence from Pakistan.World Applied Sciences

Journal,23(8), 1125-1134.

[11]Rana, M.S., Nas, Zekeriya. (2013). Customer Prefer to Contribution Towards a Social

Cause Over Sales Promotion Tools. Interdisciplinary Journal of Contemporary Research in

Business, 4(12).

[12]Sisodia, R. S., Vyas, R., & Maheshkar, S. (2013). Cause Related Marketing: A Path

Maker to Doing Socially Responsibility Business. Pacific Business Review International,

5(11), 108-111.

[13]Till , B.D.,& Norwak, L.I. ( 2000). Towards effective use of cause-related marketing

alliances. The Journal of product & brand Management,9(7), 472-484[20] Varadarajan, P.R.,

[14]Menon, A. (1988).“Cause-Related Marketing: A Co-alignment of Marketing Strategy

and Corporate Philanthropy”. Journal of marketing, 52(3), 58-74.

HR VISION FOR 21ST CENTURY ON EMPLOYEE TURNOVER

Prerna Bhagalpurkar

Abstract— HRM plays a vital role in any organization and is a dynamic resource of any

organization. It is life blood in any organization. HR basically deals with managing people in an

organization. It is the human resource which is of paramount importance in success of any

organization because most of the problems in organization setting are of human rather than physical

and technical. HRM deals not with mass of machine but a body of men.

“The Management of men” is a very important and challenging job because of dynamic

nature of people. No two people are similar in mental ability, sentiments and behavior. People are

responsive as they feel; think and act therefore cannot be treated as a machine. They need a tactful

handling by management personnel.

Today the foremost problem faced by HR is managing employee turnover. Employee

turnover refers to the number of workers who leave an organization and are replaced by new

employee. Now a day every organization still is unaware of why employee is choosing to leave the

organization and why they stay.HRM need to change its traditional approach of only maintaining a

balance between recruitment, selection, development and utilization of human resource. The HR

vision in this century needs to be strategic.

This paper is an attempt to discuss on the new changes needed to adopt in this century which

can bring a new insight in HR field. The vision should be on the achievement of organization and

individual goal by maintaining a balance in the workforce and retaining employee for a longer

period of time. It will try to highlight on the aspects of employee turnover. This paper examines the

cause and effect of employee turnover, the challenges faced by hr and also provide suggestion on

how to reduce employee turnover and optimize turnover rate. It considers secondary data collected

from various articles, journals, annual reports, unpublished doctoral thesis, report of governments.

Introduction

Employee turnover is defined as the number of employees who leave a company and are replaced by the new employee during a specific period of time typically one year. It is basically the measurement of how long an employee stay with any organization. It is very necessary for an employee to fit in a job, if employee anyhow does not fit in the environment of organization; the organization has to suffer due to turnover. Lane (2001)described employee turnover as a result of both quit and layoffs and further state that some turnover is a result of job in one firm being destroyed and job in another firm being created and hence due to reallocation of jobs across the economy in response to change in product demand. Job turnover is not a temporary but a permanent separation of employee and these permanent vacant positions are filled by the new employee. Employee turnover has a positive and negative impact on the organization but more it has negative impact because it cost lot to organization and its productivity.

Type of turnoverThere are two different type of turnover 1. Vountary turnoverIt is a separation that occurs when an employee decide for personal reasons to end up the relationship with the employer. This can be because of several reasons like better job opportunities, changing career, wanting family time, poor working condition, low pay and benefits, bad relation with employees and peers. It occur when employee itself want to leave the job on their own free will.Quit is one of the type of voluntary turnover where the employee decide to get separated with employer and the organization without giving the normal period of notice. It is the sudden and surprising decision taken by employee. Quit can occur any time and it is the unexpected by the organization. These decisions have a serious impact on the productivity of the organization but the employer cannot do anything regarding the decision taken by its employee. The employer can only do is to analysis the reason behind quitting the job. It can be done by taking exit interview or by taking regular feedback of employee so that if the employees are dissatisfied by organization environment, rules and regulation, faculties than the employee with the help of the feedback can bring some changes in the structure of the organization so that they can control the employee turnover.

2. Involuntary turnoverIt occurs when the management decides to terminates its relationship with the employee due to poor fit. Here the employee has no control over it. It has a great impact on the employee because he loses this jobHere the employee is asked to leave the job. It is initiated by employer .dismissal or layoffs are the type of involuntary turnover.Avoidable turnover It is type of turnover which organization can prevent by hiring and providing training to new employee in the place of employee already leftUnavoidable turnoverIt is a type of turnover which result from life decision that extend beyond an employer’s control such as decision to move to a new area or a job transfer or sudden deathPositive impact of turnover:Sometime turnover bring new and fresh knowledge in an organization which increases the organization productivity .it occurs when new employee enter an organization with fresh ideas and perspective which brings sudden growth in an organization. Old employee sometime do not want to bring any change in organization because of their lethargic nature .they do not believe in job enrichment. Old employee focus on job enlargement where same time of skill is needed to do additional task. It does not increase any productivity and the organization soon has to face stagnancy in the growth of organization. When the fresh brain takes a place in organization due to old employee leaving the organization, the stagnant replacement comes with extra profitabilityNegative impact of turnover:When a skilled, talented and experienced employee leaves the organization due to any reason it takes away the growth of organization together. Its takes lot of time and effort to train any employee and when a man after getting an expertise in this field when leave the organization it create panic as well as situation. It cost to the production and profit.A survey was conducted by two companies in examining employee turnover. Lichia Yiu, Ed.D and Raymond Saner Ph.D. conducted a study at the centre for socio economic development in partnership with confederation of Indian industry to get a sense of turnover across industries in India. They achieved a 72% response rate to online survey of executives from organization across industries of various sizes. They found that the highest turnover occurs in industries related to manufacturing (34%), engineering (19) % and technical and information technology services

(19%). The lowest employee turnover occurred in industries related to retails (8%), education services (3%) and health care (2%).The survey, conducted by Yiu and Saner, identified the major cause of employee turnover as salary (85%), career advancement (71%), and relationship with supervisors (50%) job contents (43%) and employee recognition (33%)

Objective of the study This research paper has two main objectives:

aj. To know the challenges HRM is confronting in this century ak. To know the authentic reason of turnover and its effect on the growth of hrm

RESEARCH METHODOLOGY:This research paper is mainly based on secondary data. The relevant data has been conducted with the help of various research articles and online resources, journals and newspapers. The methodology used in descriptive in nature.LITERATURE REVIEW:Biswas, Soumendu, Varma, Arup, Employee Relation, (2011) :This article is all about the healthy relationship between employee and employer .this articled also states that unhealthy relation not only affect the productivity of the organization but also the environment of the workplace.Curtis and Wright (2001) opined that high turnover can damage quality and customer services which provide the basis for competitive advantage also it has been observed that people who leave are those who are most talented as they are the one likely to get an opportunity else whereNaresh khatri (2012): In his article “employee turnover: bad attitude or poor management “,Employee turnover is giving sleepless night to human resource manager in many countries in Asia. A widely held belief in these countries is that employee has developed bad attitude due to labor shortage .employee are believed to job-hop for no reason or even for fun. In this study, he examined three set of antecedents of turnover intention in companies in Singapore: demographic, controllable and uncontrollable. Finding of the study suggest the extent of controllable turnover is much greater than uncontrollable turnover and that poor management practices are the major sources of employee turnover.Minu Zachariah and Dr.Roopa T.N,(2012) : in their article “a study on employee retention factors influencing IT professionals of India and MNC companies in India “ recommended that ,top management should view attrition as a serious problem and take measures to control it by involving hr manager and business leader. Organization should conduct exit survey to understand the changing expectation of workforce from time to time and take all inputs to have a understanding of turnover.

RESEARCH GAP:From the above detailed review it could be conducted that though considerable effort has been made on the various aspects of attrition ,retention and turnover but it has failed to anticipate employee turnover becoming as a major obstacles in the future growth of hrm. SCOPE AND SIGNIFICANCE OF THE STUDY:Every organization today is facing the pressure of employee turnover and days by days it is creating a buzz in market. If correct solution is not identified then companies may face threat in the industry and due to employee turnover it can create conflict within the industry. Now a days there is lot of competitors in the market and the rivals are taking advantages of employee turnover which we call poaching or raiding. It means employing a competent and experienced person already working with another reputed company which might be a rival to the industry. A company can attract talent from other firm by offering attractive pay package and other terms and condition .for example several HMT executives left to join Titan Watches .it is an unethical practice and not talked about. In fact

raiding has become a challenge for the human resources managers of modern organization because poaching of a key executive by arrival form will weaken the competitive strength of the firm. So this study will try to find out the strategies which will help employer to retain employees for a longer period of time and also save employee from the distraction created by rivals companies which we call poaching.TURNOVER IN INDIA:India has witness turnover rate up to 25% in 2016.the turnover rate of fresher was around 12-14% while at the senior level it was found between 8-10% according to survey by job portal Wisdom Jobs. Coming turnover is pegged to grow to 15-20% .the sectors which has highly suffered are IT and software segment at entry level position. Meanwhile industries like FMCG, Pharma has comparatively lower attrition rate as 18%, 12% respectively. The sectors with least turnover rate are automobile and infrastructure at 8 % and 10% respectively due to lack of industry growth. Historical data reveals that in past employee turnover was hardly seen in companies due to less working strength of employee. As the market competition rises and global market entered, international business started playing a crucial role in the economy. The rate of employee turnover increased due to the various career opportunity started coming on the way of employee path. Employees today not only search for job but also search for job giving more job satisfaction, reward and recognition in companies .compensation is a major factor playing role in this era .people today have more career option .employee do not want to work with employer who exploit them and do not give them proper compensation for their work .

So the mindset of employee has changed. They want to work with employer who can enhance their skill and can provide more career growth and opportunity. Companies need to changes their philosophy of centralization and convert the centralization to decentralization so that employee can participate in organization decision .this will provide a sense a fulfillment of esteem need in employee according to Maslow theory. We can say that Maslow theory has some relation with the turnover factor because there are some percentages of employees who are in search of recognition, attention. If the company admire employee for their work the employee get connected to company easily. Some employee do not work for compensation but for recognition ,achievement and admiration .some employee should focus on the esteem need of the employee so that they can remain in company for a longer period of time.

TABLE -1: INDUSTRIES WITH HIGHEST TURNOVER RATES:

Source: Based on Linkedln’s data on half –a- billion professionals The table -1 shows that there are various sectors of industries which are going through high turnover rate of employees. The technology companies which we call software companies have the most high turnover rate over in 2017 with a 13.2% rate. Whereas the retail sector is the second largest in turnover rate which is 13.0% while media is on the third position with 11.4%, professional services (11.4%) and then slow turnover rate can be seen from education/government sector. The software sector, retail sector and media sector have the most employee turnover rate. We can analyze with the data given that some of the sectors have major problems regarding turnover and there may be various reason in some of the sectors because of which turnover rate is high.

TURNOVER BY TENURE:

Source: Bureau of labour statisticsAbove table 2 reveals about the tenure of employee with their organisation and their employer according to the bureau of labour statistics. Tenure is a very right way to know about the relation and coordination between the employee and employer. The tenure of the employee in any organisation depends upon the various age group working in an organisation..from the data given we can easily see that the ratio of people working for a long period of time in an organisation is the age group belonging between 50 to 65 and over.as the age is increasing people working tenure with an organisation is also increasing whereas the people working under 25-29 year of age have a very short tenure .LATEST SURVEY OF 2019 :According to the latest survey done by Forbes ,it indicate that 54% of indian workers are seriously leaving their job,with 66% of them in the 16-24year age bracket.This is not a good sign where employer is trying to hire young talent high turnover is not investor friendly.According to the latest report of “ Economic Times”, Infosys is facing high turnovere at junior level . Infosys has witnessed high turnover rate among employees with two to four year experiences whereas the turnover rate at senoir level is not of same trend.it is much lower and under control at senoir position. So from these resources we can identify that most of the companies are suffering due to the fresher and the major problem drivers are the younger generation .According to the latest report of economic times, Wipro is offering Rs 1 lakh retention bonus to fresher, junior employees. Thr trend of junior employees switching companies for small hike has become a concern for IT firms, so indian IT major Wipro has promised to pay a retention bonus of Rs 1 lakh to freshers hired from campus placement this year who complete one year with company. Wipro has reportly given bonus to the tune of Rs 1 lakh each to its junior employee with experience of up to three year who have worked with the firm since the time of their campus placements. The bangalore based company has given 10% hike to employee with 3-4 year of experience in company.FINDING :

After going through the depth study on employee turnover, this research paper has helped me to find out the various reason behind the employee turnover. There may be various factor of employee behind leaving organisation and their employee.1.Lack of carrer growth and opportunities:Employee quit employers that do do not offer them opportunities to grow in a career like promotion . Everyone wants growth in an organisation and a person find a stagnant situation in carrer he or she try to quit job for better opportunities.there are lot of companies giving carrer opportunity if one find it,he easily quit job and get connected to other companies providing him better opportunities in his/her carrer.2.Work life balance may be the second reason of quiting job .lack of flexible timing of work,travelling issue can drive employee to leave job.today people are sincere toward their work but they want to work according to their comfortability like some people do not like working in night shift ,some do not like to go office at the time of traffic rush ,some want to spend time with family so comfortabilty matters .3.Manager behaviour The reason for turnover may be also the behaviour of manager.if manager do not support employee or the treatment of employer is unfair toward employee then employee will not like to continue in that working enviroment

4. Compensation Most of the employee turnover reason is connected to the compensation and benefits .if employee do not get compensation according to their work they will start searching for companies giving them compensation equal to their work and their effort. 5.Work enviromentUnsafe enviroment for work and poor facilities and bad coordination with peers may be the reason for quiting the job6.Sometime firing is done from employer side .the reason behind it may be the laziness and unproductive employee increasing the cost of the companies.

EFFECT OF EMPLOYEE TURNOVER:Employer invest lot of time in recruitment of employee .they go to various places to get a best fit for their vacant position. This brings cost to its companies and also their valuable time get invested in this process. So if employee leave organisation it brings loss to companies profit,productivity and a waste of time .RECOMMENDATION:According to my perspective ,there are two ways to control employee turnover ratio. Firstly employer should start making strategies to control employee turnover and from my point of knowledge employee should start focusing on the employee retention programme rather than focusing on hiring new employee for the vacant position on a repeting form. Companies like google work on the strategy of recuiting the finest talent and compensate them accordingly.hasty hiring often result in wrong judgement and what follows is repeated training, appraisal and employer manager frustation.so best one is to recruit the best one after taking more time on understanding the individual fit with company demand and retain that employee for a longer period of time by providing and fulfilling their demand like giving them better working cindition,reward ,carrer growth and job satisafaction which will help them to continue and tune with company for long term.from my point of view happy employee are the trusthworthy employee. If you make your employee satisfied and happy they will increase the profit of organisation as well as they will never think of leaving the organisation and employer .Secondly to control the turnover rate employer need to take proper feedback of employee on quartarly basis so that they can know the areas where they need to change the structure and strategy and what are the things which are creating a dissatisafaction in the working group and provoking

them to quit the job.CONCLUSION:After having a depth study on employee turnover, I has came across the conclusion that turnover has became the biggest problem of all the organisation and it is going to be more dangerous in coming future if not tried to control within a certain peroid of time. The biggest reason of employee turnover is the low compensation provided to employee in every organisation so the employer should focus on the compensation. If one companies is not providing good package, the other companies are ready to provide to the deserving employer according to their skill, abilities, talent and working experiences. Compensation is the biggest reason why employee jump the company boat so its better to retain employee by providing them good package and make them happy because happy employee stay together and the other thing every employer and management team should focus on is to come with new opportunity for the young generation of employee entering the organisation because the high rate of turnover comes from the fresher. Therfore, there is a need to evolve strategy like Wipro to retain the freshers .This will bring growth ,high productivity and profit to the organisation.

REFERENCES:ao.Personnel Management (CB Maoria, S.V Gankar) Himalaya Publishing

Houseap.Labour Bureau of Indiaaq. https://www.businesstoday.in/buzztop/buzztop-corporate/wipro-offers-rs-1-lakh-

bonus-to-junior-employees-amid-high-attrition-rate-in-company/story/365507.htmlar. https://business.linkedin.com/talent-solutions/blog/trends-and-research/2018/the-3-

industries-with-the-highest-turnover-rates

NETWORK INTRUSION DETECTION SYSTEM: ANOMALY DETECTION

Vandana Verma

Assistant Professor in International School of Management.

PhD Scholar, Department of Computer Science and Applications

Lovely Professional University, Phagwara, Punjab

Abstract: Network lets in us for sharing the thoughts and work development of network continually

brought new size to worldwide communiqué. but at the equal time networks continuously under

concurrent attack from any programmers or malware NIDS is one of the sorts of IDS that test the

community site visitors internal all layers of OSI and make the choice approximately the effect of

site visitors congestion and also investigates any suspicious movement. It is a software program

device used to discover any unauthorized get right of entry to pc device or community. This paper

is especially focused on the method used in anomaly detection method to identifying the item

occasion and commentary. NIDS take a look at the community traffic and also ensure that speaking

devices have to no longer be modified the baseline behavior. NIDS is likewise answerable for

detecting unusual records that might be everyday unauthorized winning on a community.

Keywords:

Intrusion Detection System, Network Intrusion Detection System, Network Traffic, Anomaly

Detection.

Introduction:

Intrusion Detection Systems (IDS) are a set of instruction and information used in computer as a

program which can be easily find the intrusion after observes and compare expected behavior

against distrustful patterns mostly occurred in real time scenario[1]. As we know, IDS is an activity

based on network and mostly appear to find intrusion threats, attacks, and malicious activities,

continuously developed the unwanted challenges in network. IDS can generate the alert, but it

cannot resolve the issues of network attacks directly [2].

Next role of IDS is to explain the behavior of protocol between all connected devices (e.g IDXP

“Intrusion detection eXchange Protocol”, RFC 4765).IDS is categorized as:-

1. Host – Based IDS, which can analyze the event accessed by Operating System or related to

Operating System information such as number of process, system call etc [3]. Whereas,

2. Network – Based IDS can allow to analyze the event accessed by network such as IP address,

Traffic Volume, use of Protocol etc.

Based on these above analysis one classification of IDS is Signature – Based classification and

another one is Anomaly – Based classification.

This paper focuses on Anomaly – Based system for detection and prevention both [4].

In anomaly – based scheme IDS compare the current behavior of system with expected behavior

and generate an alarm to found any differences between observed and expected behavior [5].

Anomaly – based scheme focus to raise the alarm if any unexpected behavior exceeds their limits.

Anomaly based system is a special set of circumstances able to detect unfamiliar and unseen

intrusion events [6].

Anomaly – Based system usually work for norm applied in the activities to detect the anomalies and

resolve the intrusion. Prevention from intrusion is different from detection where Intrusion

detection system can detect the intrusion and intrusion prevention system can take the action

according to that detection [7].

Target Beneficiaries

Smart threat detectors technologies will enable reduce attack, enhance security and create a defense

wall using firewall and other security appliances on network.

Objective

The objective of the paper is concerned with the concept of how Anomaly based system can be

implemented effectively, and how can it be prominent in developing active and passive response

type. . The main objective of anomaly based system is to detect different attack type but it cannot

protect the system against fast attack. It is concerned with how NIDS will be helpful for detect the

threats of network.

Problem Statement

By all the above discussion based on various papers, the following problem statement is derived

that suggests, “To develop a system that makes use of anomaly detection technology with

prevention. This can be utilized in the with network easily so that efficient information

management, flexible knowledge and information sharing, local and global communication and

production planning can be achieved or exchanged between any user. This ultimately results in

overall increase and improvement in the security of network”.

REFERENCES

[1]. Anderson, J. “Computer Security Threat Monitoring and Surveillance,” fort Washington, PA:

James P. Anderson Co., 1980.

[2]. Rebecca Gurley Bace, “Intrusion Detection,” Macmillan Technical Publishing, 2000. ISBN 1-

578-70185-6.

[3]. E. Mosqueira-Rey, A. Alonso-Betanzos, B. Guijarro-Berdinas, D. AlonsoRios, J. Lago- Pineiro,

“A Snort-based agent for a JADE multi-agent intrusion detection system,”

International Journal of Intelligent Information and Database Systems, Volume 3, Number 1/2009,

Pages 107-121.

[4]. M. Ali Aydın *, A. Halim Zaim, K. Gokhan Ceylan, “A hybrid intrusion detection system

design for computer network security,” Computers and Electrical Engineering 35 (2009) 517–526,

www.elsevier.com/ locate/compeleceng

[5]. Chaitanya Chinthireddy, “ Using the JESS Expert system tool to implement an Online

Intrusion Detection System based on Snort Rules,” Texas A&amp;M UniversityCorpus Christi, TX,

master thesis, 2011.

[6]. Ozgur Depren, Murat Topallar, Emin Anarim, M. Kemal Ciliz, “An intelligent intrusion

detection system (IDS) for anomaly and misuse detection in computer networks,”

Bogazici University, Istanbul, Turkey, Expert Systems with Applications 29 (2005)

713–722, www.elsevier.com/locate/eswa

[7]. Amani Salah Eldin Abdalaziz, “A Multi Agent-Based Framework for Network

Intelligence and Intrusion Prevention,” Ain Shams University, Cairo,master thesis,2009.

[8]. Jing Kou, Reasoning Techniques Used for Data Processing Based on JESS, Petri Net and

Rserve, master thesis, University of Stavanger, June 15th, 2010.

ANALYSIS OF FACTORS CONTRIBUTING GROWTH OF MICRO SMALL AND

MEDIUM ENTERPRISES-WITH REFERENCE TO BIHAR

Rajeev Ranjan (Assistant Professor, International School of Management, Patna, India)

Sonali Shukla(PGDM Candidate, International School of Management, Patna, India)

ABSTRACTMSMES constitutes and occupies largest share of total entities doing business in India. MSME sector employs the largest workforce, after agriculture in India. It is because of this attribute the sector is identified as the priority Sector. In Bihar owing to absence of large industries, Micro, Small and Medium enterprises have been the mainstay of private investments. The state being landlocked and regular floods have been detrimental to attracting large Investments. Although the state’s industrial policy has been hailed as one of the best, however the results are missing. This is mainly due to other factors working against the policy. Hence these factors become important and were studied. This paper analysis of Factors comprising five functional areas which impacts MSMEs of Bihar has been conducted. Multiple regression equation of Production function has been analyzed to find out effectiveness of each factor. The Government should align its resources to eliminate drawback in these functional areas to strengthen prospects of MSME in Bihar especially Manufacturing Sector.Keywords: MSME Units, MSMED Act 2006, Factor Analysis, District Industries Centre (DIC)

Introduction: Small Scale Industries (SSI) in India has been classified as Micro, Small and Medium Enterprises (MSME) as per the provisions of MSME development Act 2006. MSMEs in India has brought equitable distribution of wealth as well as brought about development of underprivileged areas of the country. For Capital starved country like India MSMEs gains significance by being a comparatively less capital intensive as compared to large Industries. MSMEs role in becoming complementary to large industries as ancillary units has also been significant. Altogether there are around 125 schemes and programmes spread over eighteen ministries dedicated for development of MSME sector (GOI- Handbook on MSME Schemes, 2014)As a group it is estimated that Micro, Small and Medium enterprises more than hundred million workforce, accounts for 45% of total manufacturing output and 43% of total exports of the country. MSME product/Service after enactment of MSMED Act 2006 has widened including spectrum of sectors like Repair and Maintenance work, Education, Hospitality, Food processing, Iron and Steel, electrical, electronic equipment, pharmaceutical products, organic chemicals and articles of iron and steel, pearls, precious stones, metals among others.

Classification of Enterprises, Definitions of Micro, Small & Medium EnterprisesIn accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medium Enterprises (MSME) are classified in two Classes:a) Manufacturing Enterprises- The enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the industries (Development and regulation) Act, 1951) or employing plant and machinery in the process of value addition to the final product having a distinct name or character or use. The Manufacturing Enterprise are defined in terms of investment in Plant & Machinery.(b) Service Enterprises: The enterprises engaged in providing or rendering of services and are defined in terms of investment in equipment.The limit for investment in plant and machinery / equipment for manufacturing / service enterprises, as notified,

Manufacturing Sector

Enterprises Investment in plant & machinery

Micro Enterprises Does not exceed twenty five lakh rupees

Small Enterprises More than twenty five lakh rupees but does not exceed five crore rupees

Medium Enterprises More than five crore rupees but does not exceed ten crore rupees

Service Sector

Enterprises Investment in equipmentsMicro Enterprises Does not exceed ten lakh

rupees:

Small Enterprises More than ten lakh rupees but does not exceed two crore rupees

Medium Enterprises More than two crore rupees but does not exceed five core rupees

Methodology:Descriptive research has been undertaken. Research Methodology has adopted Secondary research tools for fulfillment of objectives of Research. Secondary data has been analyzed to to ascertain contribution and development of MSMES in Indian Economy after enactment of Micro, Small and Medium Enterprises Development Act of 2006. Data has been analyzed with the help of tables, charts and graphs. Mathematical and statistical tools like percentages, growth rates, regression, have been used. In this paper forecasting technique through linear regression equation has been conducted for analyzing variables. The focus has been on the relationship between a dependent variable and one or more independent variables. More specifically, through regression analysis forecasting technique has been conducted to ascertain how the typical value of the dependent variable viz Production, Investment and Employment changes when one of the independent variables more specifically Number of Units has varied. Regression equation used for forecasting the dependant variables with respect to independent variable is

ŷ = b0 + b1x

The syntax used for this method has been:=FORECAST (B192, $C$182:$C$191, $B$182:$B$191) for Production. =FORECAST (B138, $C$128:$C$137, $B$128:$B$137) for Investment.

Objective of study:1. To analyze the growth of Micro, Small and Medium enterprises in Post Liberalization and MSMED Act 2. Identify the Factors impacting MSMEs in Bihar.3. Reduction of the factors to identify key factors impeding growth of MSMEs of Bihar.

Sampling: The Population of study encompasses Manufacturing Units of Bihar categorized as

Micro, Small and Medium enterprises as per the provisions of Micro, Small and Medium Enterprises Development act 2006.Sampling frame for analyzing impediments for Micro, Small and Medium Enterprises of Bihar constituted:1. Food Processing Units comprising of Rice mills engaged in production and packaging of variants of milled rice like polished rice, unpolished rice, puffed rice, pressed rice, rice flour, broken rice, and Bran.2. Maize processing Units engaged in maize processing and packaging of corn flakes, corn flour.3. Poultry feed and animal feed manufacturing units.4. Pulses Modern mills, Mango Pulp, juice, pickle, jam, jelly, juice, candies and Units engaged in Processing of Vegetable items like Tomato Juice, paste, puree, ketchup & soup Potato Chips, stacks, snacks, Chili Paste, dry chilly, chili powder, and other spices.5. Electrical products engaged in installation of stabilizers, wires and other electrical appliances like switch, switch board etc.6. Timber Units Manufacturing products of timber like Plywood, Hardboard, including fibre-board, chip-board and the like, Matches and Miscellaneous furniture components.7. Ceramics products including Fire bricks, Furnace lining bricks - acidic, basic and neutral, China ware and pottery , Tiles and Sanitary ware and Insulators.8. Iron and Steel MSME units engaged in manufacture of Iron bars, rods, iron sheets, angles besides units engaged in fabrication of Iron and Steel products.9. Plastic products manufacturing units.Data Collection: For the purpose of study Primary data was collected by conducting field survey of owners of 150 MSME units with a structured questionnairebased on Numerical scale statements involving directional movement of the degree of attitude in ascending manner. Questionnaire was developed by incorporating the factors acting as impediments for MSMEs of Bihar. Factors as demonstrated in Table 1 comprised from the functional areas constituted as per guidelines of World Bank’s Enterprise Survey Manual, Understanding the Questionnaire January, 2011 for conducting such survey.Data Analysis: Factor analysis of impediments impacting overall sustainability of MSMEs of Bihar has been conducted. Principal component method has been used for dimension reduction of the factorsbased upon factor loadings. Principal component analysis is the most frequently used method which transforms a set of variables into new set of variables called principal components. These new set of variables are not correlated and their correlation coefficient are called loadings (Cooper and Schindler 2006).

Table 1Factors (Impediments) constituted from functional areas

Functional Area FactorsI)Infrastructure and Services 1.Power

2.Water3.Transport and4.Information communication technologies(ICT)

II)Capacity 5.Raw Material6.Demand7.Skilled Manpower

III)Degree of Competition 8.Unregistered Units9.Large MNCs10.Chinese Products

IV)Labor 11.Labour Regulations

V)Land 12.Allotment of Land

VI)Finance 13.Access to finance

VII)Crime 15.Theft16.Robbery17.Vandalism18.Arson

VIII)Business Government 19.Tax rate,relation 20.Tax Administration,

21.Business Licensing,22.Political Instability23.Responsiveness of officials24.Corruption25.Courts

Source: Prepared as per guidelines of World Bank’s Enterprise Survey Manual, Understanding the Questionnaire January, 2011.Factors concerning eight functional areas namely Infrastructure and Services, Obstacles in reaching Capacity output, access to Finance, Degree of Competition, access to Land, Labor regulations, Crime and Business-Government Relations which impacts Micro, Small and Medium enterprises have been considered as per Table 1.

Table 2KMO AND BARTLETT'S TEST

Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .882

Approx. Chi-Square 7868.913

Bartlett's Test of Sphericity

df 300

Sig. .000

The KMO statistic is a Measure of Sampling Adequacy, both overall and for each variable (Kaiser 1970; Dziuban & Shirkey, 1974; Cerny and Kaiser 1977.) KMO values greater than 0.8 is considered good, i.e. an indication that component or factor analysis will be useful for these variables. (http://www01.ibm.com/support/docview.wss?uid=swg21479963).The KMO value of .882 as per Table 2 indicates the factors are significantly strong for conducting this type of study.

Table 3

Initial ExtractionAllotment of Land 1.000 .855Raw Material 1.000 .922Demand 1.000 .869Skilled Manpower 1.000 .910Access to Finance 1.000 .835

Electricity 1.000 .835Telecommunication 1.000 .923Water 1.000 .920Transport 1.000 .855Labour Regulations 1.000 .774Skilled Workforce 1.000 .739Unregistered Units 1.000 .922Large MNCs 1.000 .869Chinese products 1.000 .959Theft 1.000 .873Robbery 1.000 .915Vandalism 1.000 .910Arson 1.000 .746Tax rate 1.000 .889Tax Administration 1.000 .870Business Licensing 1.000 .928Political Instability 1.000 .893

Responsiveness of officials 1.000 .881Corruption 1.000 .897Courts 1.000 .712

Extraction Method: Principal Component Analysis.

The results of the Principal Component Analysis also confirmed discriminant validity as most of the extracted communalities is more than 0.5 indicating strong significance of factors framed for study. The communalities indicate the estimates of variance in each factor that is explained by two factors (Cooper and Schindler 2006).

Table 4

Component Matrix

1 2 3

Primary Factors

Allotment of Land .885

Corruption .870

Chinese products .837

Skilled Manpower .863

Vandalism .794

Business Licensing .773

Tax rate .719

Telecommunication .701

Access to Finance .674

Theft .623

Secondary factors

Unregistered Units .937

Transport .848

Tax Administration .811

Political Instability .871

Large MNCs .787

Electricity .773

Raw Material .767

Demand .638

Water .649

Responsiveness of officials .669

Other Factors

Robbery .882

Courts .824

Arson .677

The conclusion drawn from principal component analysis of 21 iterations is that the iterations are further divided into three components on the basis of requirements or importance. The three components include primary factors, secondary factors and other factors. The primary factors show primary things which must take into considerations for the growth of MSME sector thereafter secondary factors then other factors. By considering these factors for the growth of MSME enterprises, the latent variables or factors will also be satisfied that leads to the growth in MSME Sector. CONCLUSIONOver hundred schemes and programmes spread over eighteen ministries are currently undertaken by the Government (NI- MSME Schemes 2014).However these schemes and programmes need to be aimed towards providing better facilities to MSMEs of Bihar in providing optimum Taxation, Regulatory and Political Framework in the state. Attributes of Taxation, Regulatory and Political framework identified are Allotment of Land procedures, Business Licensing procedures, Access to Finance, Corruption, and government ability to control the flow of Chinese products. Attributes of Entrepreneurial Support and Competition identified has been Transport facilities, Tax Administration, Political Instability, competition from Large MNCs and Unregistered Units, procurement of Raw Material and Responsiveness of officials towards eliminating the problems of Micro, Small and Medium Enterprises. Micro, Small and Medium Enterprises of Bihar should also be protected with adequate law and order cover to facilitate MSME sector in drawing incremental Investments so that they set up new units diversify to meet other requirements.

ReferencesAnnual report Government of India, Ministry of Micro, Small and Medium Enterprises, (2012-13)http://msme.gov.in/ANNUALREPORT-MSME-2012-13P.pdfCooper Donald R., Schindler Pamela S., Business Research Methods,9th edition,(2009) Tata McGraw -Hill.Debroy Bibek (2005),‘Small Scale Industry in India Large Scale exit problems’, edited, Bhandhari Laveesh, Academic foundation New Delhi ISBN 817188411-3. Gupta S.L., Gupta H., Business Research Methods, (2012) Tata McGraw-Hill.Gupta S.P., Statistical Methods 37th edition,(2008) Sultan Chand and Sons.Misra and Puri (2008), ‘Indian Economy’, Himalayan publishing House, New Delhi.Srivastava T. N., Rego S., Statistics for Management, (2008) Tata McGraw-Hill.Zikmund William G., Business Research Methods, 7th edition (2003) Cengage Learning.

NEED OF GLOBAL MINDSET IN ORGANIZATIONAL EXPANSION

Neeru Kumari

(Assistant Professor, Department of Management, International School of Management, Patna)

Abstract : India witnessed a significant policy shift in the 1990s when it has adopted the new

economic reform which is commonly known as Liberalization, Privatization and Globalization. The

impact of this policy led to the presence of organizations in multiple nations, and this is increasing

rapidly and turning global. As a matter of fact, every organization, be it a small-sized, medium-

sized or large-sized company, searches for new growth avenues, new markets, utilizing the available

resources to its optimum level, innovative ideas, etc. Along with opportunities, even the competition

gets tougher, not only in the existing home market but globally, where an organization is willing to

create its own market space; a challenge for the existing competitors. The success of the

organization purely depends on the kind of employees it has hired; talent acquired to tackle the

rough and tough situations; coming up with the most viable solutions which are acceptable. The

human resource acquired should be well qualified, trained and prepared to tackle the emerging

challenges, balancing the integrity of the people and interpreting the dynamic world in which it

operates. Here comes the crucial role - creating a global mindset for establishing a global

relationship among different organizations. In this paper, the following issues are highlighted: what

global mindset is; the importance of it in an innovative organization; and how it can help in

strengthening the relationship on a global platform.

Introduction

The transformation in modern business has increased the roles and responsibilities of the human

resources department manifolds. One of the major factors for transformation is globalization. The

markets for products and services are not restricted to the boundaries of a nation, there is now

global competition. To meet this global competition, organizations need and are continuously in

search of talented people for different roles. We know the fact that globally there is a huge dearth of

highly skilled employees, leading to stiff competition among the organizations to attract right

candidate on the right job, plus the one who can stick to an organization loyally for a good number

of years.

Organizations have to put much emphasis on hiring the right talent. The reason being, in order to

use financial capital to its optimal utilization, or using the available material in the best way or to

innovate or promote the product manufactured or produced by the organization, for all these and

many more organizational activities, we need the right human resource. It is observed that most of

the MNCs and MNEs were successful in adapting the best human resource practices which can

meet the global needs of the market, also retaining the acquired talent for longer period of time.

Challenges of Globalization

Based on data from 22 countries and 12 industries, a World Economic Forum study predicted that

vast talent gaps between the supply and demand of highly skilled workers would appear by 2020

(World Economic Forum, 2011). There is a huge demand for talented people in every organization,

be it in developed countries or developing countries. Unfortunately, the human resources that are

available, is proving to be of minimum utilization as they are considered unfit or lacking with

employable skills. According to the McKinsey Global Institute, only 13 to 19 percent of 33 million

university graduates in developing countries are suitable to work in a multinational company, due to

their lack of language skills, low quality of the educational system, and lack of cultural fit. Also,

only a fraction of these people are willing or able to relocate to foreign countries for employment

(McKinley Global Institute, 2005 - I).

Here, the questions are: (a) How to meet the global need for human resources? (b) How to develop

the global mindset in the employees who can meet the requirement of the organizations?

Enriching & Developing Global Mindset

There is urgency in developing the global mindset in the available human resources, who can

sustain in the global environment, face the intricate challenges and complexities and come up with

desirable solutions, to remain steadfast facing the competitive demands of the global marketplace.

Mindset drives the discovery of new market opportunities, establishing a presence in key markets

and converting presence into global competitive advantage (Govindarajan & Gupta, 2001). In the

recent past, it was observed that a global mindset has turned into an important factor for success in

most of the global organizations.

With this changing scenario, the roles and responsibilities have diversified. Every organization is

willing to recruit and select candidates who can build in strategies which are universally acceptable;

handle both local and global perspectives. As an individual, when he is envisaging things with a

global mindset, he has to understand and explore more about cross-country cultures, markets,

diversity between nations, organizational policies, etc. and then entwining the adopted strategies

which can be implemented appropriately in multiple countries, cultures, and contexts.

The organizations which have adopted global mindset, have obtained a number of benefits, such as

better coordination among the multinationals, early mover advantages with lower failure rate, a

stronghold with rapid expansion in the market of a new product – concepts and technologies.

There have been two approaches used by researchers looking at global mindset at the individual

level.

First, many writers have conceptualized global mindset in relation to salient dimensions of the

global environment, underscoring the challenge of crossing cultural boundaries, interacting with

employees from many countries, and managing culturally diverse inter-organizational relationships.

Levy et al. (2007) has used the term cosmopolitanism for this dimension of a global mindset that

emphasizes an individual’s level of engagement and an ability to navigate through unfamiliar

cultures with an external and open focus.

Second, other researchers writing about global mindset has focused on aspects of environmental

complexity and strategic variety stemming from the globalization of operations and markets. The

environmental complexity approach highlights an additional demand placed on MNCs: the need to

integrate geographically distant and strategically diverse operations and markets (Prahalad & Doz,

1987). Appropriately, this approach often defines the global mindset as a cognitively complex

knowledge structure characterized by high levels of both differentiation and integration (Levy et al.,

2007).

The concept of global mindset drives to showcase the cognitive abilities, which can understand the

external environment, accepting and clubbing the diverse elements existing in the internal

environment, with an individual’s openness to ideas and experiences.

Global mindset paves a new way. It allows in entering new domains and venturing with new ideas,

across the borders, bridging the gap between cultures and providing a suitable platform to work

together, managing diversities, and exploring a new avenue to promote and sell the product in the

global market. A global mindset is an individual’s stock of knowledge, cognitive, and psychological

attributes that enable him/her to influence individuals, groups, and organizations from diverse

socio-cultural systems (Schon Beechler and Mansour Javidan, 2007).

To cater to the demand for an organization, and to become a successful global leader, one must

acquire certain skills; moreover, as a global leader, you have two identities, one who is local, who

can understand and address the local issues in a competitive manner as per the requirement of the

organization and the other one of a global identity, who values cross-culture understands the need of

the country and their men; in fact, it demands multiple thinking. For this, the global leader needs to

develop and enhance their formal learning through collating vast experiences – both personal and

professional. At the same time the global leader must keep his eyes wide opened to know exactly

what is happening in and around the globe.

Keeping in context the present working scenario, most of the employees and the organizations stick

to their own land, when it comes to manufacturing, but certainly they have a world-wide open

market for their product. This states that the physical movement of the person may not be required

but it is utmost important to have the latest knowledge of the global market which is next to

impossible without having a global mindset.

According to the new Report of Center for Creative Leadership (CCL) and a leading Human

Resource Institute of Singapore, human resources need to adopt various critical mindset shifts in the

forthcoming decades to meet the challenges globally pertained to the demand for: (i) new models of

business; (ii) fulfilling the requirements of existing or new organizations which have innovated or

adopted new technologies; and (iii) The organizations expanding across borders.

Well, these demands for a well trained human resource who can deal with unexpected situations

under different circumstances more cautiously and carefully; a person should be tech-savvy, enjoys

working round the clock, innovative and creative and thinks out-of-the-box when it comes to

handling the issues related to workmen.

Recently, Javidan and Bowen (2013) have made intensive research in this field and developed the

Global Mindset Inventory (GMI) with an aim to measure the profile of global mindset.

Conceptually, GMI measures the profile of global mindset in terms of three capitals, namely,

intellectual capital, psychological capital and social capital.

Figure 1 - The Structure of Global Mindset(Source: globalmindset.weebly.com)

The Global Intellectual Capital is the cognitive face of a global mindset. It expects dexterity in the

working employee, who can anticipate the global demand, fulfilling it with the supply of products

or services. It must also be flexible and ready to adopt change, be it in technology or in modus

operandi, as per the norms of the organization. The broader vision definitely helps in expanding the

business, of course, a well-drafted plan and a strategy is always welcomed which can increase the

profit earning ration of the organization. Baidhyanath Ayurvedic which is a 100-year-old company,

Sri Sri Tattva founded in 2003 and Patanjali founded in 2006 are certain examples of Indian

products which have great hold in the global market. Their exports are increasing year after year,

though there are many competitors in the competitive perfect market, still they have a stronghold in

the niche market, certainly, the credit goes to the impact created by the middle-level and the top-

level members of the management of these organizations in the global market.

Global Psychological Capital is the affective aspect of the global mindset. On the onset of global

business, the employee must show the willingness to accept the diversities, to get connected

globally, leveraging services passionately which must reflect positive approach with thoughtful

mind and ideas, which can happily connect the other global human resources. These are the four Rs

– Recruiting, Reforming, Retaining and Rewarding which are the major concern areas of the human

resource manager pertained with the working employees, till the time of their retirement. Human

capital can be well managed when proper care is taken of the emotional energy. Particularly, while

selecting the expat, organizations must give high priority to those who are truly confident, smart,

witty, to sum up in a line – ‘to choose such employees whose psychological capital is stronger than

the intellectual capital’. Well, to quote as examples there are hundreds and thousands of employees

such as Shailja Dutta Founder and Chairperson, Stellar Search, India.

Global Social Capital is the behavioral aspect of the global mindset. As an individual, one must

have the ability to manage self, building trust and loyalty as these strengthen the connectivity,

ability to communicate well, working with the teams with a positive attitude. In the global context,

one must give equal respect to other’s culture, empathize with their emotions.

The organizations are looking for trained employees who can utilize their intellectual, psychological

and social capital in a rightful way. To add on, the human resource manager recruits an employee

who has employability skills. But to work in the global environment with a global mindset, they

need certain more skills, along with the other employability skills.

For Sustainable Employment – Employability Skills Needed

Leadership

The ability to motivate, take responsibility and lead other people, in

order to achieve set goals and objectives.

Networking

The ability to make and sustain contacts in order to gather advice,

information and potential business and career development. Linked very much

to good communication skills.

Commercial Awareness

The ability to have an awareness of the business issues that affect the industry, and to understand the environment in

which it operates in relation to customers and competitors.

Negotiating

The ability to discuss and then reach a mutually satisfactory agreement. This involves working together with other

people and building trust.

Decision Making

The ability to choose a course of action or the best option by considering

various paths open to you, identifying the pros and cons and then making a

balanced judgment.

CreativityThe ability to generate new ideas and solutions and to produce something

new that has value to others.

Global SkillsTo understand and appreciate different

cultures, speak and understand different languages.

Source: University of Bolton - Employability Skills

To sum up, Global Intellectual Capital ensures that the manager is aware of the many dimensions of

global complexity. Global Psychological Capital generates enthusiasm, energy, and self-confidence

to deal with such a level of complexity. And Global Social Capital helps the manager behave in

ways that are likely to build trust and help achieve her objectives. Finally, it is worth mentioning

that these three Capitals of Global Mindset, act as key to effective global leadership, are broader in

scope than the related construct of cross-cultural intelligence and cross-cultural leadership. (M.

Javidan & D Bowen, 2013)

Application

Even though much emphasis is given on developing a global mindset of the employees, at present

there is a severe shortage of employees who are open to embrace the cross culture and work on a

global platform.

To bridge the gap, a number of organizations have taken numerous initiatives in order to develop

and enrich a global mindset of their employees quoting a few - IBM in 2008 has launched Global

Enablement Teams (GETs) which comprises of four to five experienced senior officials from

different geographies; the teams work collectively to achieve their set goals. IBM also uses

extensive social media forums that help to bridge cultural differences and social gaps among its

366600 employees in 175 countries in 2017. The Ulysses Program initiated by

PricewaterhouseCoopers (PwCs) is quite appreciable. It sends selected employees to developing

countries for eight-week service projects. The objective of this program is to train future leaders to

find innovative solutions to intractable problems, and is designed so that participants work in small

cross-cultural teams, collaborating with local clients as well as with PwC colleagues from other

global regions, to apply their business expertise to complex social and economic challenges.

Indian companies are also well engaged in enhancing the global mindset of its employees, as most

of the Indian organizations which are into Information Technology sector are the major Offshore

Services Provider such as Infosys, Wipro, TCS, Mahindra Tech, etc. Because of the excellent

services offered for sure, the organizations would like to continue the services. Not to forget that the

relationship with the clients globally can be nurtured and strengthened only by providing the best

services.

Conclusion

As a developing nation, in order to strengthen our economy, we will have to embrace the world of

business which is expanding and increasing globally. With many opportunities, there comes a

threat; the threat of more number of competitors, sharing the available market which narrows the

profit earnings ratio. This challenge can’t be ignored. Rather, if we mobilize global resources,

certainly the organizations can achieve their set targets. To sustain in the long run and to succeed,

every organization is in need of a new and increasingly critical tool called global mindset, which

certainly can be enriched and quantified to fulfill the global requirement. Global exposure to the

expatriates, regular short term assignments with a certain amount of responsibility and authority

may help in training and enhancing global mindset which can fulfill the organizational needs.

References

33. Gupta, A.K., Govindarajan, V., Wang, H., 2008. The Quest for Global Dominance:

Transforming Global Presence into Global Competitive Advantage, second edition, Jossey-Bass

34. Gupta, A. K., & Govindarajan, V. (2002) - Cultivating a Global Mindset. Academy of

Management Executive, Vol. 16, No. 1, Theme: Focusing on the Positive and Avoiding the

Negative (Feb., 2002), pp. 116-126

35. Javidan, M. & Bowen, D. (2013) - The ‘Global Mindset’ of managers: What it is, why it

matters, and how to develop it, Journal – Organizational Dynamics, Vol. 42, Issue.2, pp.145 –

155.

36. Kedia, B., & Mukherji, A. (1999) - Global managers: Developing a mindset for global

competitiveness, Journal of World Business, Elsevier, Vol.34, Issue.3, pp. 230 - 252.

37. Levy, O., Beechler, S., Taylor, S., & Boyacigiller, N. (2007) - What we talk about when we talk

about global mindset: Managerial cognition in Multinational Corporations. Journal of

International Business Studies, Vol. 38, pp. 231 - 258.

38.Prahalad, C. K., & Doz, Y. L. (1987) – The multinational mission: Balancing local demands and

global vision, first edition, Simon and Schuster Inc. USA.

AN EMPIRICAL STUDY ON BUYING BEHAVIOUR OF FMCG PRODUCTS IN RURAL AREA

Madhulika Gupta Sham V. BachhavHead of Department, Professor, ASM’s IBMR, S.M. Dr. D.Y. Patil Centre for Chinchwad, Pune-19 Management and Research,Gat No.1029, 1030, Newale Vasti, Chikhali, Pune

Abstract: There was a time when the FMCG (Fast Moving customers goods) companies ignores rural market, they took no any interest to produced or sell products in rural market in India. It was the initial stage of FMCG companies in India. As per as the time had passed, the strategy and marketing style of FMCG companies had been changed. The rural market is the one of the best opportunity for the FMCG sector in the India. It is wider and less competitive market for the FMCG. As the income level of the rural consumers increasing, the demand of FMCG is increasing continuously. Fast moving consumer goods (FMCG) are popularly named as consumer packaged goods. Items in this category include all consumables (other than groceries/pulses) people buy at regular intervals. The most common in the list are toilet soaps, detergents, shampoos, tooth paste, shaving products, shoe polish, packaged food stuff, household accessories, extends to certain electronic goods. These items are meant for daily or frequent consumption & have a high return4. A major portion of the monthly budget of each household is reserved for FMCG products. The volume of products circulated in the economy against FMCG products is very high, as the number of products the consumer uses, is comparatively very high. Competition in FMCG sector is very high resulting in high pressure on margin. FMCG companies maintain intense distribution network. Companies spend a large portion of their budget on maintaining distribution networks. New entrants who wish to bring their products in the national level need to invest huge sums of money on promoting brands. Manufacturing can be outsourced. A recent phenomenon in the sector was entry of multinationals and cheaper imports. Also the market is more pressurized with presence of local players in rural areas and state brands.Key Words: FMCG, Strategy, Competitive Market, Household, Consumption, Multinationals

Overview of FMCG Sector

FMCG goods are popularly known as consumer packaged goods. Items in this category include all

consumables (other than groceries/pulses) people buy at regular intervals. The most common in the

list are toilet soaps, detergents, shampoos, toothpaste, shaving products, shoe polish, packaged

foodstuff, and household accessories and extends to certain electronic goods. These items are meant

for daily of frequent consumption and have a high return.

Rural – set to rise

Rural areas expected to be the major driver for FMCG, as growth continues to be high in these

regions. Rural areas saw a 16 per cent, as against 12 per cent rise in urban areas. Most companies

rushed to capitalise on this, as they quickly went about increasing direct distribution and providing

better infrastructure. Companies are also working towards creating specific products specially

targeted for the rural market5.

Scope of the FMCG Sector

The Indian FMCG sector has a market size of US $13.1 billion. FMCG sector is expected to grow

by over 60% by 2018. That will translate into an annual growth of 10% over a period of 5 years. It

has been estimated that FMCG sector will rise from around Rs. 56,500 crores in 2005 to Rs. 92,100

crores in 2018. Hair care, household care, male grooming, female hygiene, & the chocolates &

confectionary categories are estimated to be the fastest growing segments, says an

HSBC Report. Though the sector witnessed a slower growth in 2002 – 04, it has been to make a

fine recovery since then.

As now a day’s market is filled with a number of FMCG Companies; Every company want to

increase our market share. Due to lot of competition in the urban market and urban market is

saturated. Every company want to captured the wide rural market. Because about 70% of our

country population live in the rural mark

OBJECTIVES

• To understand the demand pattern of FMCG products in the rural market.

• To know the amount of household income spent on the consumption of FMCG products.

• To understand the image of the products in the eyes of the consumers.

• Different Strategies adopted by different FMCG companies to increase our rural market share.

• Future growth potential of rural marketing of FMCG Companies in India.

LITERATURE REVIEW

Rural market is one of the best opportunities for the FMCG sector. In some sense we can say that

rural market is future of FMCG.

1. Basu Purba (2004), suggested that the lifestyle of rural consumers is changing. Rural Indian

market and the marketing strategy have become the latest marketing buzzword for most of the

FMCG majors. She added the strategies of different FMCG companies for capturing rural market

like Titan’s Sonata watches, Coco Cola’s 200ml bottle, different strategies of HUL and Marico etc.

She takes into consideration the study of National Council for Applied Economic Research

(NCAER). According to the NCAER projections, the number of middle and high-income

households in rural area is expected to grow from 140 million to 190 million by 2007. In urban

India, the same is expected to grow from 65 million to 79 million. Thus, the absolute size of rural

India is expected to be double that of urban India1.

2 Sathyanarayana S, Ramani Gasnesh, suggested that, the rural buyer represents a separate and

distinct category. Separate, because of his isolation and remoteness, which call for special

distribution strategy and channel management. Distinct because of his specific needs, habits,

literacy level, which in most respect are different from those of urban consumers. The rural market

calls for extra efforts to ensure timely supplies, user training and the entire gamut of pre-sale

services. Rural distribution is considered a nightmare because of the six-lakh odd villages in the

country plus low off-take per retailer, high distribution cost because of the geographical spread and

low volume of purchase2.

3. Aithal, K Rajesh (2004), suggested that rural markets are an important and growing market

for most products and services including telecom. The characteristics of the market in terms of low

and spread out population and limited purchasing power make it a difficult market to capture. The

Bottom of the pyramid marketing strategies and the 4 A's model of Availability, Affordability,

Acceptability and Awareness provide us with a means of developing appropriate strategies to tackle

the marketing issues for marketing telecom services in rural areas. Successful cases like the

Grameen Phone in Bangladesh and Smart Communications Inc in Philippines also provide us with

some guidelines to tackling the issue.

As per my concern of the research, it is a detail study of different FMCG products used

by rural consumers. It will provide detail information about consumer preferences towards a good

number of FMCG products which is too unique and different from those above researches3.

RESEARCH METHODOLOGY

Data Collection Methods:

Primary data is collected by interviewing the consumers with structured questionnaire method.

Sample Size: 50. Sample Unit: Consumers. Sampling Method: Convenience Sampling Method.

Tools Used: Percentage Analysis

Secondary data: It is collected with the help of books, news papers, internet, etc. In case of this

project most of the focus has been on the secondary and published data. For preparing this project

different sites have been referred.

Survey of Consumers:

The total number of consumers selected under Convenience Sampling Method was being 50.

DATA ANALYSIS

1. Soap Brands

Table 1.1

Reaction of respondents surveyed towards various Soap brands (N=50)

Brands Lux Dove Lifebuoy PearsPercentage 25 3 62 10Source: - Field Survey

Table No:-1.1 - In the survey, it could easily be concluded that Lifebouy was highly in demand. it

covers 62% of the market share. After Lifebouy, the other brands

2. Tea brands

Table No: - 1.2Preference of respondents surveyed for various Tea Brands (N=50)

Brands Society Tata Tea TajMahal GreenPercentage 70 20 10 0Source: - Field Survey

Table No: - 1.2: In the survey, it could easily be concluded that society TEA, the product has a

market share of 70%. This is followed by, TATA Tea with a market share of 20%.

Followed by other brands GREEN has 0% share in the market.

3. Tooth paste In the initial years, the rural consumers preferred tooth powders, datoons etc. But from the last

decade, the preference of consumers towards toothpaste has been changed. A huge number of

toothpastes of different companies are sold in rural market.

However, the reaction of people towards various TOOTH PASTES can be tabulated as follows:

Table No.1.3Preference of respondents surveyed for various Tooth Paste Brand (N=50)

Brands Pepsodent Colgate Close-Up OtherPercentage 25 50 20 5Source: - Field Survey

Table No.1.3: In the survey, it could easily be seen that COLGATE, the product of COLGATE

PALMOLIVE is the market leader, which covers 50% of the total market. After that, PEPSODENT,

the product of HUL is demanded by the customers, which covers 25% of the market share.

Followed by CLOSE – UP, the product of HUL is demanded by the customers, which covers 20%

of the market share. Which is then followed by others brands (EXCEPT PEPSODENT, COLGATE,

CLOSE - UP), which covers 16% of the total market share.

4. Detergent Brand

The reaction of people towards various DETERGENT brands can be tabulated in the following

manner:

Table No.1.4Preference of respondents surveyed for various Detergent Brands (N=50)

Brands Rin Surf Excel Surf OtherPercentage 35 27 27 11 Source: - Field Survey

Table No.1.4: In the survey that the researcher conducted, it could be easily concluded that RIN,

the product of HUL captures 35% of the total market share. This is followed by SURF, the product

of HUL which has a market share of 27%. This is followed by TIDE, the product of PROCTER &

GAMBLE which has a market share of 27%. This is finally followed by other brands (EXCEPT

SURF, RIN, TIDE) which captures 16% of the market share.

5. Shampoo Brands

The reaction of people towards various SHAMPOO brands can be tabulated in the following

manner:

Table No.1.5Preference of respondents surveyed for various Shampoo Brands

Brands Clinic plus

Head & Shoulders

Sunsilk

Other

Percentage 33 28 25 14 Source: - Field Survey

In the survey, that the researcher conducted it can easily be concluded that CLINIC PLUS, the

product of HUL, captures the major portion of the market with a market share of 33%. This is

followed by HEAD & SHOULDERS, the product of PROCTER & GAMBLE which holds 28% of

the market share. This is followed by SUNSILK, the product of HUL which holds 25% of the

market share. Finally followed by other brands (EXCEPT CLINIC PLUS, SUNSILK, HEAD&

SHOULDERS) with a market share of 14%.

Findings & Suggestion:

1. There is a significant difference in the various age groups of the respondents for the

perception of impulse buying behavior of the costumer in FMCG products of the shopping

malls, handlooms and marts visited by the respondents.

2. There, is significant difference in the impulse buying behavior for FMCG products amongst

the customer classified by the gender coming to shopping mall, handlooms and marts in the

city.

3. There, is significant difference in the impulse buying behaviour for FMCG products

amongst the customer classified by the age coming to shopping mall, handlooms and marts

in the city.

4. There is significant difference in the impulse buying behavior for FMCG products amongst

the customer classified by the education coming to shopping mall, handlooms and marts in

the city

5. There is significant difference in the impulse buying behavior for FMCG products amongst

the customer classified by the income coming to shopping mall, handlooms and marts in the

city.

Limitations /Scope for future work: The study is limited to PCMC area and therefore showcases

the consumer preferences of that particular area only. The subject can also be taken ahead for

further research work; the researchers can go for more regions and study the subject with more

population in a broader way.

Conclusion:

In this report, it can very easily be concluded that HUL, holds major portion of the FMCG

market. It holds major shares in the soap, detergent, shampoo & cream’s category. HUL’s products

are mainly in demand, because they provide these products in different packs. They consider the

fact that rural consumers do not have that much money to be spent on these products. So, they

prefer buying the small or the medium packs. However, large or family packs are still been bought

by few consumers, who are from a well – off families.

In the case of TEA, TATA holds a major share. In the case of COFFEE, NESTLE &

NESCAFE holds the major share. Rural consumers favor TATA because it is an old organization &

it has gained a lot of BRAND EQUITY which finally creates BRAND LOYALTY. In these

products, consumers do get brand loyal, because they do not want to take a risk with their tastes. So

they prefer sticking to one brand. These organizations supply their products in various packs (small,

medium & large), considering the buying capacity of their consumers.

As in the case of BISCUITS, BRITANNIA holds the major market share. Rural

consumers favor BRITANNIA because it is an old organization & it has gained a lot of BRAND

EQUITY which finally creates BRAND LOYALTY. In case of BISCUITS, consumers do get brand

loyal, because they do not want to take a risk with their tastes. So they prefer sticking to one brand.

These organizations supply their products in various packs (small, medium & large), considering

the buying capacity of their consumers.

In the case of TOOTH PASTES, COLGATE PALMOLIVE holds a major market share. Consumers

are very concerned about their health, so if any product suits them they prefer sticking to that

product. And this product is also available in various packs, so rural consumers can use it according

to their buying capacity.

In the case of HAIR OILS, MERICO holds the major market share. MERICO is a

much known organization & its product PARACHUTE has reached all the places. So it is a known

product, which has created a good amount of goodwill for the organization. Consumers have

confidence & trust in their product. Therefore, they prefer buying it.

Bibliography

1. Basu Purba (2004), “Emerging Face of Rural Markets in India”, Marketing Mastermind, May, The Icfai University Press.

2. Sathyanarayana S, Ramani Gasnesh, Rural Retail Management: Journal Of Contemporary Research In Management, July - Sep 2008.

3. Rajesh K Aithal and Arunabha Mukhopadhyay, ‘Rural Telecom in India: Marketing Issues and Experiences from Other Countries’, www.rural telecom.org.in, 2002.

4. Jain and Rathod, Distribution and Retailing Trends in Rural Markets-A Study in Villages of Gujarat, Indian Journal o f Marketing, pp 17-26

5. Krishnan and Panigrahi (2006), Understanding the Rural Markets and Exploring The Scope For Consumer Market Segmentation in Rural India; Feb, The ICFAI Journal o f Marketing Management

A STUDY ON "THE HUMAN VALUES, ETHICS AND CORPORATE SOCIAL RESPONSIBILITY IN INSURANCE COMPANIES WITH SPECIAL REFERENCE TO LIC"

Kumud(Faculty of L.N. Mishra Institute of Economic Development & Social Changes, Patna)

ABSTRACT

Human Resource Management (HRM) in Insurance companies centered on policies, practices and systems that influence the behaviour, attitudes, values, ethics and performance of the organisation. The Life Insurance Company (LIC) focused on effective human values and ethics between employees and customers and tend to be more satisfied, innovative with greater productivity and development for more favourable impact in the society with employees first in insurance companies. The company's focused on keeping employees loyal, motivated, trained and well compensated. In turn, there was least attrition with high rate of customers satisfaction. LIC and other insurance companies provided magnificent social responsiblity for justice and equity for all sections of the people. The existing various labour laws improved the payment of wages, raising minimum wages, bonuses and several associated incentives. The latest move by the government to bring the life insurance corporation (LIC) under the corporate social responsibility (CSR) law is a welcome step to help and push floundering sectors. To make corporation part of social change, Govt. of India took the novel step of enacting section 135 of the Indian Companies Act by mandating and including large profitable companies with turnover of ` 500 crore and above are required to spend at the rate of 2% of their average net profit on CSR. The present study emphasized on the role of social responsibility which promotes the human values and ethical standards in the society. To achieve this objective primary data were collected with the help of questionnaires and interviews. The questionnaires were filled up by 100 employees under the research project. The hypothesis taken up for conducting the research was true and employees ethical and social responsibility programmes adopted by LIC were found to be positive.

INTRODUCTION

The Parliament of India passed the Life Insurance Corporation Act on the 19 th of June 1956, and the the Life Insurance Corporation of India was created on 1 st September 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas by discharging social responsibility for all persons in the country by providing them adequate financial cover in the evening of their lives.

Life Insurance Corporation of India is an Indian state owned insurance company with head quarters in Mumbai. It is the largest insurance company in India with an estimated asset value of ` 2,529,390 crore (US $ 370 billion).

Presently, LIC functions with 2048 fully computerized branch offices (8 Zonal offices, 113 Divisional offices, 2048 branches and 1408 Satellite offices. It also has 54 customer zones and 25 metro area service hubs located in difference cities and towns of India. It also has a network of 1,537,064 individual agents, 342 corporate agents, 109 referral agents, 114 brokers and 42 banks for soliciting life insurance business from the public. LIC had 1,20,388 number of employees, out of which 24,867 were women (20.65%). The categorical classification of employees with either sex is depicted the table II given below: -

Category of employees Total number No. of women

Class I – Officers 31,420 6,297

Class II – Development Officers 26,621 1,033

Class III / IV Employees 62,347 17,542

Total 1,20,388 24,867

LIC has crossed many milestones with striding performance in various aspects of life insurance business. The motives which inspired our luminaries to bring insurance into existence in this country led LIC to lead the message of protection and to light the lamps of security in as many homes as possible and to help the people in the evening of their lives to have peace and tranquility.

Elucidating some of the important milestones of LIC follows could be counted on major steps:

1818 : Oriental Life Insurance Company, the first life insurance company on Indian soil started functioning.

1870 : Bombay Mutual Life Assurance Society, was the first Indian life insurance company which started the business.

1912 : The Indian Life Assurance Companies Act came into force to regulate the life insurance business.

1928 : The Indian Insurance Companies Act came into force to enable the government to collect statistical information about both life and non-life insurance businesses.

1938 : Earlier legislations were consolidated and amended with the objective of protecting the interests of the insuring public.

1956 : 245 Indian and foreign insurers and provident societies were taken over by the central government and nationalised. LIC was formed by an Act of Parliament, with a capital contribution of Rs. 5 crore by the Government of India with the mission to explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development.

The vision was a trans-nationally competitive financial conglomerate of significance to societies and Pride of India'.

VISION 2030 OF THE LIC

34. The dominant financial conglomerate of India with widespread global footprints.

35. An innovative company in terms of product, marketing and human values.

36. A customer satisfaction with ethical values and social world class responsibilities.

OBJECTIVES OF THE STUDY

The objectives behind carrying out this study focused on having an in depth analysis of the prevailing ethics & corporate social responsibility programmes in LIC with the help of a survey of the HR practices.

al. To identify the ethical & corporate social role of LIC in the society.

am. To examine how human values & corporate social responsibility affect the performance or development of LIC.

an. To assess the challenges with the corporate, social & ethical values of LIC.

ao. To identify factors that will improve or encourage to play key roles in corporate social responsiblity in LIC.

REVIEW OF LITERATURE

Rajesh C Jampala and Bh. Venkateswara Rao (2005) examined the role of LIC in Corporate Social Responsibility. The study found that CSR, if implemented in true sense will enhance the quality of stakeholders and the society at large. Folake Olowokudejo and S.A. Aduloju (2011) in the research paper titled “Corporate Social Responsibility and Organization effectiveness of insurance companies in Nigeria found that there is a positive impact of CSR on organization effectiveness. The study concluded that company’s involvement in CSR related activities could help insurance companies to succeed, increase their profitability and improved performance. Kaur Maneer and Agarwal Sudhir (2011) investigated the efficacy of Corporate Social Responsibility initiatives by creating positive brand image in the minds of the consumers.

LIC Golden Jubilee Foundation

This was established in 2006 as part of the organization’s commitment towards corporate social responsibility. The objectives included relief from the poverty or distress, advancement of education, medical relief and advancement of any other objects of general utility. The Foundation has supported projects ranging from construction of hospitals, providing educational facilities, old age homes, hostels buildings for children in tribal areas, etc. It has also provided ambulances and mobile medical vans for the underprivileged sections in remote areas and special school buses for differently abled children. The foundation has also supported cochlear implant surgeries for children from economically weaker sections of society through KEM Hospital, Pune. Apart from this, LIC Golden Jubilee Scholarship Scheme is an excellent CSR initiative where scholarships of Rs 10000 each per annum are awarded to meritorious students across the country belonging to economically weaker sections.

Business Initiative

While taking care of its social responsibilities, LIC has also kept a keen eye on the market to seize opportunities to grow its business.

Product development: LIC continues to launch innovative products to address the needs of different segments of the society.

Training: LIC conducts regular workshops and training modules for its office and field staff both internally and also in association with reputed names in industry.

Overseas Operation: LIC serves the Indian Diaspora overseas through its branch offices and joint ventures.

Bank assurance and alternate channels:

LIC has tie-ups with 8 PSU banks, 4 private banks and 33 UCBs/ RRBs/ cooperative banks under Corporate Agency agreement. In the current year, LIC has planned to show a substantial income from this source.

Need of the Study

as. To improve and encourage social role in the society.

at. To improve and upgrade the quality of life of people of LIC.

au. To increase more and more market participation through social responsibility with wider acceptance and popularity all across the globe.

av. CSR is recognised as an effective tool to maintain balance between both business and society.

RESEARCH METHODOLOGY

Research methodology is a way to the systematic solution of a research problem. It focuses on the various steps adopted in studying the research problem along with the logic behind using them and finding out the results.

Hypothesis

The ethical and corporate social responsibility programmes adopted by LIC helped in improving market performance and simultaneously fulfilled organized objectives.

Research Design

The highly effective research methodology were used both in Quantitative and Qualitative research. It is necessary to ensure that correct methodology is used for the type of research being conducted.

Sample Design

A sample design is a definite plan determined before any data are actually collected for obtaining a sample from a given population. In this case I have used convenient sampling.

Sample Size

For this survey the sample size is taken to be 100

Tools of Data Collection

This may include:

Observational methods: Observation is a way to look at the things, as they exist. It involves the use of various senses and drawing meanings to the things we see or hear. There are a number of things that can be observed by an evaluation.

These may be classified under the following categories

32. Physical facilities and living conditions

33. Meetings, discussion and other transactions

34. Celebrations and other events related to organization life and culture

35. CSR and other HR related

36. Forms and formats, reports, manuals etc.

Interview methods

Interview methods is quick and adequate for comprehensive HR audit. Interviewing

the various stakeholders can give considerable data about the current areas and directions for the improvements. The main advantage of the interviews is its capacity to capture the primary concern of the people under study. Interview makes the assessment dynamic. In interviewed people in office and thus collected relevant information.

The critical scientific study lies in framing the questions rather than in finding the answers. Thus to reach the correct perspective, it is imperative to go through the right way. The purpose of preparing a questionnaire was to collect concrete information which may give the best possible results to fulfill my objective of the report.

Secondary methods

Analysis of secondary data can give a lot of insight into HR assets and liabilities of the company published literature of the company such as annual report, marked handouts issued also helped in assessing the strengths and weakness.

Questionnaires & response analysis

Does LIC have any formal policy for corporate social responsibility?

CSR is Necessary % of Responses

Yes 80

No 20

From the graph we can see that:

• Maximum Employees felt that CSR was necessary (80%)

• Only 20% felt it as unnecessary

Do the LIC have structural corporate social practices in the society?

Do you eagerly participate in CSR

programmes

% of Responses

Yes 70No 10

Sometimes 20

From the graph it is evident that:

• Maximum Employees eagerly participated in CSR programmes (70%).

• 20% of the employees irregularly participated as if it was not much useful.

• Only 10% did not participate in CSR programmes feeling unnecessary.

How effective are the corporate social responsibility practices of LIC?

CSR programme % of

adopted in LIC ResponsesVery Good 40

Good 30Fair 20Poor 5

Cannot say 5

From the graph it is evident that only:

• 40% employees felt that CSR programmes adopted by LIC was very good.

• 30% employees considered it to be good.

• 20% employees considered it to be fair.

• 5% employees consider it to be poor and not much convinced.

• 5% employees failed to provide any comment.

Has the ethical values and social responsibility practices of LIC affected employees performance?

Has the ethical values and social responsibility

practices of LIC affected employees

performance

% of Responses

Yes 70No 10

Sometimes 20

From the graph we can see that:

• Maximum Employees felt that ethical values and social responsibility practices of LIC affected employees performance (70%) i.e. the improvement was evident.

• 20% employees feel that ethical values and social responsibility practices of LIC affected employees performance.

• 10% employees did not feel that ethical values and social responsibility practices of LIC affected employees performance.

Do the LIC employees eagerly participate in corporate social programmes?

Do LIC employees eagerly participate in

corporate social programmes

% of Responses

Yes 90No 10

From the graph it was observed that:

• Maximum Employees felt that LIC employees eagerly participate in corporate social programmes (80%).

• Only 10% feel it is not.

What do you think about mother and infant protect programme adopted by LIC was effective?

Mother and infant protect adopted by LIC was effective

% of Responses

Yes 80No 5

Sometimes 15

From the graph it was observed that:

• Maximum Employees felt that mother and infant care protection adopted by LIC (80%) was effective.

• 15% employees felt that mother and infant care protection adopted by LIC was not regular.

• 5% employees did not feel that mother and infant care protection was properly adopted by LIC.

Do the top level management played effective role in implementing Golden Jubilee Scholarship Scheme in LIC?

Do the top level management play

effective role in implementing Golden Jubilee Scholarship

Scheme in LIC

% of Responses

Yes 80

No 10

Sometimes 10

From the graph we can see that:

• Maximum Employees reported that top level management played effective role in implementing Golden Jubilee Scholarship Scheme in LIC (80%).

• 15% employees reported that top level management played an effective role in implementing Golden Jubilee Scholarship Scheme in LIC.

• 5% employees did not feel that top level management was effective in implementing Golden Jubilee Scholarship Scheme in LIC.

Did he think that special education and employment enhancing vocational skills helps to promote growth and development of LIC in global market?

Did he think that special education and employment enhancing vocational skills helped to promote growth and development of LIC in

global market

% of Responses

Yes 70

No 30

From the graph we can see that:

• Maximum Employees reported that special education and employment enhancing vocational skills helped to promote growth and development of LIC in global market (70%).

• Only 30% feel it was not so effective.

Do the education, health, livelihood, social development, environment sustainability programmes helped to achieve LIC objectives?

Do the education, health, livelihood, social

development, environment sustainability programmes

helped to achieve LIC objectives

% of Responses

Yes 70

No 30

From the graph it was inferred that:

• Maximum Employees felt that education, health, livelihood, social development, environment sustainability programmes helped to achieve LIC objectives (70%).

• Only 30% felt that it was not effective.

Has LIC appropriate policy and strategy for conducting social responsibility programmes.

LIC has appropriate policy and strategy

for conducting social responsibility programmes

% of Responses

Yes 50

No 40

Can't say 10

From the graph we can see that:

• Major Employees feel that LIC had appropriate policy and strategy for conducting social responsibility programmes (50%).

• 40% employees observed that LIC has no appropriate policy and strategy for conducting social responsibility programmes.

• 10% employees did not feel that LIC has appropriate policy and strategy for conducting social responsibility programmes to yield the desired results.

FINDINGS

• 80% employees agreed that corporate social responsibility was necessary.

• 70% employees eagerly participated in corporate social responsibility programmes.

• 40% employees feel that corporate social responsibility programme adopted in LIC was very good.

• 70% employees reported that top level management played effective role in Implementing corporate social responsibility programmes.

• 90% employees felt that after undergoing ethical programmes their performance improved.

• 80% employees agreed that the ethical corporate social responsibility programmes give better opportunity for growth and promotion.

• 80% employees agreed that these ethical corporate social responsibility programmes help to achieve organization objectives.

• 70% employees felt that LIC provided corporate social responsibility on the basis of genuine social needs.

• 70% employees reported that there is appropriate faculty for conducting ethical and development programmes.

• 50% employees reported that employees got an opportunity to try out whatever they learn in corporate social responsibility ethical and values.

• 61% respondents were males and 31% were females.

• 68% respondents had 15 years length of services.

LIMITATIONS

Many of the employees were reluctant to fill the questionnaire.

The sample size of the report is small because of the time, cost and constraint.

Faced a bit of difficulty in getting employees.

Time constraint, as limited period of time was provided for the survey.

Some employees were not aware of all corporate social responsibility and development programmes.

RECOMMENDATION & SUGGESTIONS

17. There should be more participation from the top level management in implementation of ethical and corporate social responsibility programmes.

18. Awareness and importance of corporate social responsibility programmes should be increased.

19. Ethical and corporate social responsibility programmes should be compatible with private sector programmes.

20. Employees engagement to be strengthened in respect of corporate social responsibility programmes.

21. Matching the right competencies and skills with ethical and value based programmes.

CONCLUSION

The result derived from this survey proved that the hypothesis taken up for conducting the research was true and corporate social responsibility programmes adopted by LIC help in improving employee's performance and simultaneously fulfill organizational objectives. Today the insurance industry is on boom. Many new companies are entering in insurance sector. Through foreign direct investment also foreign companies are entering so in this cut throat competition various steps are to be taken by LIC in order to compete with the competitors. LIC is emphasing on ethical and corporate social responsibility programme needs in order to survive. Corporate social responsibility programmes help to develop skills in employees which help them to work in the changing scenario. Its task is to attain objective in relation to employees and organization and society with the resources available within the organization. Competitiveness demands diverse workforce and up-to-date skills.

REFERENCES

• M.L. Mathew (2003) Insurance Principles and Practices; RBSA Publication, Jaipur

• Tripathi, Nalini Prava and Pal Prabir (2005, Indian Insurance Industry – The Paradigm Shift; ICFAI Publication, Hyderabad.

• LIC Annual Report

• www.irda.gov.in

• www.licindia.com

ANALYSIS OF MARKETING STRATEGIES USED BY NGOS OF JHARKHAND WITH

SPECIAL EMPHASIS ON SOCIAL MARKETING - A LITERATURE REVIEW

Samriddhi Singh(Ph.D Scholar, Faculty of Management Studies, ICFAI University Jharkhand)

Sudipta Majumdar(Assistant Professor, Faculty of Management Studies ICFAI University Jharkhand)

Abstract

Marketing is largely considered a “for-profit” sector concept. It is a way of informing and convincing people that your products or services are of value to them. If they know that your business exists, the chances of them becoming your patrons definitely increase. Hence, it is safe to say that marketing is of immense importance for the success of any business. Similarly for a NGO, a good marketing strategy can help grab the attention of potential donors. It can help a NGO with the generation of funds and in attracting new volunteers. The concept of social marketing came into existence in the late 1960s. Kotler et al. (2002) state that social marketing is often used to influence an audience to change their behaviour. The NGOs try to convey messages of public interest through product packaging (the cause in this case). By studying the motivating factors and the attitude of the society as a whole, these organizations can definitely bring about a positive change and social marketing can prove out to be a useful tool for them. NGOs operational in Jharkhand and their patrons will be studied for this research project. This is a conceptual paper and through literature review, we try to identify the factors influencing the marketing strategies of NGOs with special emphasis on social marketing. Future research will tend to derive conclusions based upon the market response.

Key Words : Marketing, for-profit, NGOs, social marketing

Introduction

The core of any business is profit generation, which predominantly depends on successful sales.

However, how does a firm increase its sales? How does it ensure that consumers opt for its products

and not others?

The answer to the above-mentioned questions is “marketing”.

The American Marketing Association defines marketing as “the activity, set of institutions, and

processes for creating, communicating, delivering, and exchanging offerings that have value for

customers, clients, partners, and society at large.”

Thus, it is a way of informing and convincing people that your products or services are of value to

them. If they know that your business exists, the chances of them becoming your patrons definitely

increase. Hence,it is safe to say that marketing is of immense importance to any business’ success.

Not only does marketing increase sales; it also helps establish brand awareness, engage new

customers and grow businesses.

Marketing is largely considered a “for-profit” sector concept. It was only in 1969 that the likes of

Philip Kotler, Sidney Levy and William Lazer, started exploring the social dimension of marketing.

Kotler and Zaltman introduced the term in 1971 to describe the use of marketing principles and

techniques to advance a social cause, idea or behavior. The first formal definition of social

marketing offered by Kotler and Zaltman is as follows:

“Social marketing is the design, implementation and control of programs calculated to influence the

acceptability of social ideas and involving considerations of product planning, pricing,

communication, distribution, and marketing research.”

Social marketing has evolved greatly since its first appearance. The term has come to mean a social-

change management technology involving the design, implementation, and control of programs

aimed at increasing the acceptability of a social idea or practice in one or more groups of target

adopters (Kotler and Roberto, 1989). It is an adaptation of commercial marketing techniques to

induce a change in the human behavior for the purpose of societal benefit instead of commercial

profit.

It can be defined as the use of marketing principles and techniques to influence a target audience to

voluntarily accept, reject, modify or abandon a behavior for the benefit of individuals, groups or

society as a whole (Kotler, Roberto and Lee, 2002). In his book “Marketing for Non-profit

Organizations” in Brazil, Kotler (1978) emphasized the application of marketing in the social area.

In simpler words, Social marketing is an approach to bring about social change by influencing the

consumers’ behaviours, attitudes and practices.

NGOs play an indispensable role in the socio-economic development of a nation. They have a

greater reach in the society because of their participatory methods of functioning and the ability to

work more closely with communities in need. In the long-run; NGOs can specialize in triumphing

certain causes. They can focus on problems that are unique to each community within the country

(Parthasarathy, 2013).

Keeping the above-mentioned points in mind, the questions that need addressal are: can the

effectiveness of NGOs be increased with the use of social marketing strategies? Do they perform

better than those organizations, which do not use social marketing in achieving their goals?

Objective

The objective of this paper is to study the various marketing strategies used by NGOs of Jharkhand

and to analyse the factors which bring about a change in behaviour towards a social idea or cause.

The study also aims at examining the advantages enjoyed by an NGO employing social marketing

strategies versus those that do not.

Methodology

Data for the research mainly collected from secondary sources. Research work done by researchers

all over the world on the similar topic has been referred. Extensive Literature review has been done

to gather authentic secondary data for this work.

Literature Review

Social marketing is an innovative approach to social change. Over the last five decades, the term

“social marketing” has become an integral part of the marketing vocabulary used by profit and non-

profit organisations, the government, etc. Despite initial confusion with its definition and domain,

social marketing is now widely practiced all across the world.Andreasen, 1994 stated that the

definition and the domain of “social marketing” are still not properly established. In his paper, he

proposed a revised definition and domain of social marketing. It is emphasized that the cause pursued by

social marketers should benefit the society and not just a minority for there is a scope of subjectivity in

social marketing.

• Andreasen,2003 emphasized on the unanswered challenges in the field of social

marketing which need to be addressed. The article gives a brief history of social

marketing. He has stated that the evolution of social marketing as a separate entity from

commercial marketing since 1960s is similar to the growth and maturity of human

beings from the time of its birth. He talks about the need to systematically “market”

social marketing. He also stated in 2012 that marketing in both social and commercial

settings are about influencing the consumer behavior. Social Marketing does not use a

special set of marketing tools. Rather the challenges faced in non-profit and social

marketing are more complex.

• Binney & Brennan, 2010 identified social marketing as a problematic term due to its

various interpretations. One way to look at it is as ‘socially desirable’ aims which

society seeks to achieve through (typically not-for-profit) marketing effort. People often

tend to confuse ‘social’ marketing’ with ‘societal’ marketing.

• Wood, 2012 critically evaluated the state of social marketing in light of the Second

World Social Marketing Conference. The author found that the name “social marketing”

itself might be very confusing due to limited social marketing theory and practice around

a mission to provide better non-profit services for social/public good.

• Gordon, 2011 gives us an insight into the concepts “social marketing”, “critical

marketing” and “social critical marketing”. The author concludes that critical social

marketing is in fact a sub-set of marketing thought.

• Calderon, 2018 emphasized that the core focuses of social marketing is influencing

behavior. More than often, the consumer’s behavior is greatly driven by the shared

beliefs. It was found that there are two types of shared beliefs, which can hamper social

marketing efforts- misconceptions and ideological convictions.

• Domegan, 2008 highlighted the five aspects of the CMP Classification Scheme and

suggested that the Scheme can be further modified to accommodate Social marketing by

i) adding a community/society aspect and ii) attempting to capture the societal space,

beyond the marketplace, where marketing exchanges occur.

• Kylander & Stone,2012 provided a framework for non-profit organizers and organizational

strategists to better manage their brands through the Non-profit brand IDEA which

• Paço &Rodrigues, 2014 considered the creation of a brand as a differentiating factor for

non-profit organizations when it comes to funding and volunteers. After conducting a

survey with 654 samples, they found that that brand image contributes to the extent that

people intend to give money to NGOs, as well as the typicality of the brand and the past

donation behavior. Past donation behavior is the only variable that influences the

intention to give time by volunteering with a NGO.

• Polonsky, 2017 defines corporate social marketing and claims that CSM and SM are

different from each other. CSM focuses on promoting the purchase or use of goods in a

way that influences “behaviors” that benefit individuals and communities for the greater

social good.

• Chovanová, et al, 2015 dealt with the results of the primary research which purpose was

to examine the impact of brand on influencing consumers to purchase a product. The

paper stressed on the fact that the brand has an impact on customer decision-making

process.

• O’Rourke,2005 emphasized on market campaigns undertaken by NGOs. They try to use

the existing customer concerns to influence producers to produce sustainable products

and services. NGOs deploy both negative information to critique leading brands, and

positive information to help build new markets for improved products.

• Maslow's (1943) theory of human motivation or hierarchy of needs: Motivation

theories provide insights into why an individual engages in a particular behavior in order

to achieve his/her goals and meet his/her needs. Maslow’s hierarchy of needs is one of

the best known of motivation theories. Depicted in the form of a pyramid, it is a five-tier

model of human needs and in order to move up in the pyramid, one needs to fulfill the

most basic needs first.

Fig. 4.1

• The Fishbein Model: The theory attempts to explain the reasoning behind opting for a

certain product by the consumer by measuring his overall attitude towards the object. The

three basic variables as per the model are:

i) customer attitude towards particular object

ii) beliefs that this object has certain attributes (benefits, values, features), it is result of

prior knowledge, advertising, etc. and

iii) Subjective evaluation of this attributes and positive outcomes, benefits from acquiring

this object.

Fig. 4.2

• Theories of Reasoned Action (TRA) and Planned Behavior (TPB): According to TRA,

the intention to act is the most important predictor of subsequent behavior. The components

of the theory are as follows:

• Attitude to the behavior. It completely depends on how strongly one feels that consequences will

follow the act and the value of that consequence to him/her.

• Subjective norms and the individuals' desire/motivation to conform to them and

• Perceived control.

The addition to the third component gave rise to TPB wherein the situational or internal

obstacles to perform the behavior is taken into account. For example, being surrounded by

drug addicts when oneself is a recovering addict might force him into using again.

Fig. 4.3

• Consumer behavior models: There are many consumer behavior models. While some

focus on the factors which influence behavior, others focus on the stages a customer goes

through during the decision making process. Many opt for the “belief-feeling-behavioral

intention”.

Fig. 4.4

The stages approach is widely used by social marketers.

Research Gap

Based on the existing researches and review, it is found that most of the research done on social

marketing was in the field of health care particularly in spreading awareness about and combating

diseases such as HIV. Very little work has been done in the field of child welfare and education

especially in India.

Conceptual Framework

The strategic role played by brands in inducing a behaviour change cannot be overlooked. For an

NGO, it is of great importance to be recognized and known to its potential donors. It also needs to

maintain its workforce, which also requires funds. Marketing can help an NGO with the generation

of funds and in attracting new volunteers and donors. According to Roridgues et al., 2014; brand

image contributes to the extent that people intend to give money to NGOs, as well as the typicality

of the brand and the past donation behaviour.

The NGO executives need to have a good understanding of the various factors that influence an

individual’s behavior. The classifications of the factors are as follows (Kotler & Armstrong, 2008)

(Fig. 6.1):

By studying the motivating factors and the attitude of the society as a whole, these organizations

can definitely bring about a positive change and social marketing can prove out to be a useful tool,

only if the NGO executives realize its need. On the other hand, institutions with no concrete

marketing strategy face difficulties in achieving behavior change in the target group and less

contribution from the volunteers.

Creating a favorable brand image serves the organization in the long-run. Not only does it attract

new supporters, it also provides credibility for if one is asking others for financial support, they

would like to know that their money is being utilized for the betterment of the society. The variables

mentioned in the table below are a part of a proposed model by Rodriguez et al, 2014 and are as

follows:

Independent Dependent

Brand Image

Typicality

Familiarity

Past time donation behavior

Past money donation behavior

Intention to donate time

Intention to donate money

Table 6.1

Few additional variables that one may consider while testing the applicability of the Rodriguez et al.

model are:

• Brand personality

• Brand association

• Brand loyalty and

• Brand positioning.

Conclusion

From the extensive literature review and the discussions, it is safe to say that NGOs need to indulge

in marketing if they are to overcome challenges such as paucity of funds and volunteers as well as

to spread awareness about their social cause amidst other reasons. The total number of NGOs

registered with the Indian Government is approximately 3.3 million and majority of them don’t

even have a marketing department. Moreover, Jharkhand as the geographical location for the study

is definitely unexplored.

References:-

• Andreasen, A. R. (2015). Some implications. The Acquisition of Heritage Languages, 3(3),

298–310. https://doi.org/DOI: 10.1017/CBO9781139030502.009

• Andreasen, A. R. (2011). Rethinking the Relationship between Social/Nonprofit Marketing and

Commercial Marketing. Journal of Public Policy & Marketing, 31(1), 36–41.

https://doi.org/10.1509/jppm.09.035

• C. Batti, R. (2014). Challenges Facing Local NGOs in Resource Mobilization. Humanities and

Social Sciences, 2(3), 57. https://doi.org/10.11648/j.hss.20140203.12

• Bloom, P. N., Novelli, W. D., & Paul, N. (1981). Problems and Challenges. American

Marketing Association, 45(2), 79–88.

• Binney, W., & Brennan, L. (2011). Introduction to special section on non-profit and social

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INNOVATION & CREATIVITY IN MARKETING PAGE CAGE MARKETING ON FACEBOOK

‘BOOST POST’ – ORGANIC & INORGANIC CROWD PULLING

Mohit Shaw Guest Faculty

59/2 Barrackpore Trunk Road, Kolkata

Facebook has become one of the most important tools of marketing in various spheres of the corporate world. Nowadays, whether it is a housewife or a working professional no one is untouched by the captivating charm of this specific social media. The platform developed by Mark Zuckerberg has successfully been able to pull people from different walks of life under one single umbrella. The concentration of cosmopolitans in humungous numbers has given way to many business houses including individuals, organised or unorganised groups whether entities in corporate and non-corporate forms to capture and approach their target audience with effectiveness and easy filtering. In this paper we are going to analyse and explain specially the ‘boost post’ feature on a Facebook page and conclude regarding the productive effect of the same on respective businesses. Before we understand the ‘boost post’ feature we need to understand what is ‘organic reach’ and ‘inorganic reach’.

Organic Reach: -

The term organic means naturally. It means there is no artificial creation or false generation of

numbers (visitors) on our respective Facebook page. In simpler sense we are talking about the

visitors on our page who have reached us on the basis of self-interest or on being inquisitive

about our organisation, product or services.

It also refers non-paid form of marketing through a Facebook page.

Inorganic Reach:-

As the word suggests inorganic, something which is artificial and not natural. So, here we can

say from the Facebook page point of view there is a chance of ‘pull method’ of marketing which

sometimes leads to illusion in the respective marketers mind (Facebook page admin) that a lot of

prospective clients have come across the specified advertisement (Facebook post) and hence the

management considers a fruitful marketing campaign has been executed – but it is actually a

myth.

Now, let us understand what is the ‘boost post' feature of the Facebook page.

As per the specified operations (mechanism) of the Facebook page it can be defined as the

process by which a respective post can be pushed in front of (Facebook wall) of our prospective

clients through the filtering process involved during the ‘boost post’ feature.

Steps involved in the ‘boost post’ process in any post :

On our respective Facebook page the first thing is required to make the complete post regarding

the product or services. Once the post is successfully made, you will find in the right hand side

bottom there is an option of ‘boost post’. If we are intending to initiate the campaign through

‘boost post’ feature then we should first click on the same (Refer Diagram 1.0)

Diagram 1.0

Once you have clicked on the ‘boost post’ option a dialogue box pops-up (Refer Diagram 2.0)

Diagram 2.0

It is very interesting to note that there is a ‘boost option’ on the right hand side bottom again but

it is inactive. Before the button gets active it is necessary that the Facebook page managers must

set the ‘target audience’ through the filtering option available during the ‘boost post’ operation.

Now let us explore the filtering process through which we can select our ‘target audience’ (Refer

Diagram 3.0)

Diagram 3.0(Part A)

39. Now, click on ‘edit’ option. Then another dialogue box will pop up.

The main parameters which are

addressed in this process are –

Whom to Approach

Geographical Area

Behaviour

Age Group

Interests

Demographics (overall)

Whom to approach:

People who like your page

Under this head we first decide among the two options –

People who like your page and their friends.

Diagram 3.0 (Part B)

We have to select one option out of the above two.

If we are looking for more accuracy in defining our target audience then we should select the

‘edit’ option located under the broader heading of ‘audience’. Here, we can exhaustively select

and customise our intended and prospective ‘target audience’.

In the given box we have the option to select our target audience on the basis of gender and we

can even set the age range between 18 to 65+ [Refer Diagram 3.0(Part B)]. This new dialogue

box even help us to target audiences in specific geographical area in which the marketer believes

that it can be more productive in reaching out to those users of Facebook located in those

specified areas.

The most interesting concept utilised in this ‘boost post’ process is the

last filtering process i.e. ‘include people who match’ (demographics,

interests or behaviours) -

Under this process Facebook actually helps the marketing organisation to locate consumers with

‘interests based on words and domains’ which matches with the organisational products and

objectives. It is quite obvious this process is executed and the prospective clients are located on

the basis of information which respective Facebook users have given in their personal profile.

So, we can conclude Facebook uses its database to help the organisation to reach out to

customers effectively.

Now let us talk about commercials involved in the process -

The commercial charges are done on two bases – Days and Budget.

Marketing can be done only in terms of days and not in hours.

The minimum required days of marketing is 1 and the maximum days are 366.

The budget which can be spent can be decided by the prospective marketer as per its appetite.

The budget per day influences the reach of the respective information (post/advertisement)

Now your Campaign is initiated and it will continue till the number of days specified by the Organisation.

Observations post initiation of ‘Boost Post Feature’

Just below the post which is set with the ‘Boost Post’ feature an analysis of the visitors

ultimately reaching out to the post and ‘clicking’ on the same (i.e. reading the post in a way

are specified)

The analysis helps the marketer to understand the overall effect of the campaign in

approaching and awaring the intended audience about the product/services (Refer Diagram

4.0)

Diagram 4.0

How will you differentiate between posts on the basis of 'Boost Post' and 'Non-Boost Post’ feature?

The answer to this question is very simple. In case of post which has been boosted for marketing

will be labelled as 'sponsored' on the top left hand side of the post (Refer Diagram 5.0)

Diagram 5.0

Concept of ‘Paid Likes’ with ‘boost post’ feature

When the campaign commences gradually we find that the number of 'likes' on the post is

increasing and the number of people to whom the post has been reached out also enhances

significantly. The increased number of likes and reach out does have a positive impact on the

minds of the management of the concerned organisation in relation to the marketing operations

initiated through the Facebook Page feature.

However, in most of the cases it is found that the conversion level of such likes and reach out

into prospective clients is very minimal. So, it is discovered that from likes and reach out point

of view the numbers are impressive but from revenue and conversion level point of view the

scenario is not that pleasant.

Now, here comes the concept of paid likes -

As we all know the significant source of revenue for a platform like Facebook is advertisements

and commercial promotion of product, services or organisations. Facebook never charges for

opening a personal account or a Facebook Page on its platform.

So, in order to maintain and enhance their revenue medium Facebook has to present before the

advertisers that their spent money on ‘boost post’ feature is actually effective from the marketing

point of view which they camouflaged with increased likes and analysis of reach out to

Facebook users at various locations.

How exactly Facebook carry out the ‘funda’ of paid likes?

It is true and practical that Facebook on the basis of filtering option of the category of 'audience'

pushes the concerned post on the walls of various Facebook users. But the question arises do

actually all the Facebook users like the concerned post? In majority of cases it is NO but few

does.

If you look at your personal Facebook profile you will find that there are few pages in your

profile which you have never came across but they exist as an already liked page by you (this

data is collected on the basis of interviews conducted among 50 Facebook users). So, we assume

on the basis of given facts Facebook can generate likes on your post which may not be natural

(organic) but it is artificial. Take another situation, if on a post there are 7000 likes (I am ignoring

organic likes for this purpose) then don’t you think that atleast 10% of people should have

actually shared the post, keeping in mind the general tendency of Facebook users to share on

their wall what they like on this platform. But if you observe majority of Facebook posts with

such high Number of likes have minimum Number of shares in comparison.

Despite having no guarantee in converting paid likes and reach outs into clients the ‘boost post’

feature of Facebook is still a popular medium for marketing and awaring people about the

existence of the products/services by the organisation. Such paid likes may not provide direct

customers or revenue but it serves as a good presentation and image building mechanism when it

comes to real prospective clients who come across the post for the very first time. The increased

number of likes on the respective post creates a positive image in their minds.

INNOVATIONS IN BANKING ACTIVITIES AND THEIR IMPACT ON RURAL DEVELOPMENT: A STUDY WITH SPECIAL REFERENCE TO BANK OF BARODA

Abstract:

“INNOVATION” means to make or create something new. Banks are now no longer restricted to

traditional banking activities but explored newer way and avenues to increase business and capture

new and unbanked areas. Banking as such is a business relationship of the banker with the clients.

Innovative banking in special and preferred sector is that banking which improves the quality of life

of those persons who lead and ordinary or in many cases even the sub-standard life, thereby

bringing or restoring the dignity of human life which ultimately win acceptance and recognition of

the community as a whole with which the banks work. The bankers aim at achieving this with the

help of instruments of credit and also the non-credit instruments.

Innovation is incredibly valuable to banks as it offers new and compelling ways to capture

new business and grow loyalty from consumers. Innovation also plays an essential role for rural

economic development as these regions respond to the challenges of competing in the global

economy. The article has proposed to study the various facts and facets of innovations in rural

banking activities and their impact on rural development. In order to make it more purposeful and

pinpointed the study has been undertaken on the innovative activities of public sector banks with

special reference to Bank of Baroda.

Introduction:

“INNOVATION” means to make or create something new. Banks are now no longer

restricted to traditional banking activities but explored newer way and avenues to increase business

and capture new and unbanked areas. Banking as such is a business relationship of the banker with

the clients. The same is true of the banker everywhere whether they are dealing with urban or rural

clients. The innovativeness lies in the way of approaching the plants and the special and conscious

action taken for building the business relationship which would not have happened in the normal or

routine course. Looking from this angle innovative banking in special and preferred sector is that

banking which improves the quality of life of those persons who lead and ordinary or in many cases

even the sub-standard life, thereby bringing or restoring the dignity of human life which ultimately

win acceptance and recognition of the community as a whole with which the banks work. The

SUPERVISORProf. (Dr.) OM PRAKASH

AGRAWALPrinciple

S.B. College,Ara (Bihar)

KUMAR VIKASResearch Scholar

Department of Commerce & ManagementVeer Kunwar Singh University,Ara (Bihar)

bankers aim at achieving this with the help of instruments of credit and also the non-credit

instruments.

The beginning of innovative banking has been in the form of the approach of teaching the

unreached. The establishment of State Bank of India and subsidiaries, the nationalization of 14

major commercial banks in 1969 followed by nationalisation of 6 commercial banks in 1980, all has

helped in branch expansion of banks for reaching the unreached sector in distance rural areas. In

this context, Bank of Baroda has worked on significant projects like 'Sarthi' and ‘Night Choupal’ to

counsel the unbanked and making farmers financially literate. The expansion of Portable Branches

in remote areas, providing round the clock retail banking services like account opening, cash

withdrawal, balance enquiry etc. to customers without manual intervention is aimed at ease of

banking to the unbanked. A significant problem in India involves trying to make inroads into rural

banking, which has seen a lack of consistency in service delivery by its outsourcing partners.

Business correspondents — a banking model where banks provide services to the unbanked

population using third-party agents — still hasn’t achieved its objective of improving financial

inclusion. Though 278 million accounts have been opened under the Pradhan Mantri Jan Dhan

Yojna (Prime Minister's People Money Plan is India's National Mission for Financial Inclusion to

ensure access to financial services), 30% of the accounts lie dormant. Agent inactivity and lack of

product knowledge adds to the problem. Without access to their own accounts and the information

to use them, rural users continue to live outside the promised domain of banking.

“Satellite Banking” has been the earliest innovation in Banking in rural areas during the

early days of bank nationalization.As the days are progressing with advancement of Science and

Technology, banking to suit the changing Trends and needs of people has become an essentiality

with the organizationalshiftsin almost all sections like bigness to smallness, mass production to

specialization, production orientation to customer orientation human labour to automation, local

need to International needs, protection to liberalization, insulation to globalization etc, the banking

in industry ventured to suit these shifts. Bank of Baroda has also createdactive association,

collaboration and integration with multiple digital touch points, which is an endeavour to enrich

millions of lives and deliver value for every Indian. The Bank has leveraged technology and has

rolled out an array of products and services for all segments of society using various digital &

emerging technologies to facilitate ‘ease of banking’.

Open banking, Cloud computing and other disruptive technologies such as Big Data, artificial

intelligence (AI), block chain are significantly impacting banking operations worldwide. More

progressive banks around the world have already made significant headway with the adoption of

cloud computing and many Indian banks are fast warming up to its many benefits. Increase in

digitalization, significantly influencing Indian banking. India’s digital lending stood at US$ 75

billion in FY18. Digital lending is estimated to reach US$ 1 trillion by FY2023 driven by the five-

fold increase in the digital disbursements. Mobile banking, NFC Payments, Online financial tools,

Social Media Banking, Video chat advisory, etc. are taking Banking services to the next level. These

initiatives are making banking services more cost effective and easy to access. Mobile wallets,

Internet banking & extension of ATM Facilities, Cloud Computing, Big data analytics, etc. are some

of the innovative services boosting the operational efficiency and reach of banking services. Mobile

wallet industry likely to grow 150% in 5 years: Capgemini. India's drive to become a less-cash

economy as e-wallet industry is expected to grow to US$4.4 billion by 2022.Around 80% of

transactions in the newer banks are made through digital channels (The Indian Banks’

Association’s survey, 2016)

As the time rolled on, the concentration on specific needs and specialization have increase.

The earlier approach had been that a bank branch will cater to all the needs of all types of Clans in

different sectors of economy viz. agriculture, Industries, services and business.But specialization to

meet specific clientele group was thought of as an innovative measure.Thefirst move in this

direction was the opening of “Agriculture Development Branches” by the State Bank of India. This

concept was spread to the banking sector as a whole, letter on.Similarly, some of the banks

developedspecialized services units like “Grams Vikas Kendras” by Bank of Baroda, “Gramodhaya

Kendra” by Indian bank etc, as Rural Development Centres by specialists. These types of

departments in bank not only provide credit is assistance to farmers, but also proper counseling

services from planning to implementation of projects and monitoring.

With the introduction of latest innovations in the field of agriculture, technology and

financial collaborations within the outside the country have become necessities, innovations in

bankingactivities cover a very wide area.Therefore,this study is limited to the innovations in rural-

banking activities and their impact on rural development.The concepts of model villages,cluster

village Development Approach, Planning for Development of Villages, Financing for Hi-tech

Agriculture are more specific to the clientele needs and scientific in nature.

The Kisan Credit Card Scheme brings in many procedural improvements.Promotion and

linking bank credit to Self Help Groups is another innovative model prepared by NABARD

especially meant for women empowerment. These models not only aim at economic development

but also social development since it is recognised that mere economic development cannot by itself

bring prosperity to any country. Formeeting social development several none-credit activities have

been introduced. Thus, innovating rural banking activities are aiming at reaching the unreached to

improve their socio-economic conditions and make them later legitimate and valuable clients of the

banking services. Bank of Baroda’s efforts in financing irrigation system, scheme for solar PEV

pumps are encouraging farmers to enroll under ‘Pradhan Mantri Fasal Bima Yojana’ that are

enablers in enhancing agricultural growth. The introduction of Warehouse Receipt Finance is an

attempt by the Bank to provide better opportunities to farmers for price discovery and protecting

them from the vagaries of market price fluctuations.

Significance and Objective of the study:

Innovation is incredibly valuable to banks as it offers new and compelling ways to capture

new business and grow loyalty from consumers. Innovation also plays an essential role for rural

economic development as these regions respond to the challenges of competing in the global

economy. The article was proposed to study the various facts and facets of innovations in rural

banking activities and their impact on rural development. In order to make it more purposeful and

pinpointed the study has been undertaken on the innovative activities of public sector banks with

special reference to Bank of Baroda. The said study is significant from the following viewpoints:

iv. India is rural. Nearly three fourth population lives in about 6 lakhvillages. Therefore,

prosperity of India should be judged with the prosperity of rural India.

v. Agriculture including allied activities is the backbone of Indian economy. If villages

starve, we cannot think of cross parity of India. A handful of industrialist, businessman,

leaders and bureaucrats cannot make India rich.

vi. Villages supply raw materials and semi-finished products for medium and large scale

industries.

vii. Thestudy is important not only for addition to the academic knowledge, rather Indian

economy as a whole.

viii. The theme of study is catalytic in nature.

Conclusion:

Innovation is a continuous improvement in methods or technology for better results. So,

innovation is development process. And Innovation in banking activities means a positive change in

attitude, product design and methods of financing by banks. It is found that three types of

innovations adopted in India and abroad:

1. Innovation in product services and markets: Under this type, banks develop new

products and services, target new markets and customers.

2. Innovations in Business models: Under this type, banks refocus, restructure and expand

their business.

3. Innovations in operations: Under this type, banks improve effectiveness and efficiency of

core financial areas.

The nature of innovation in banking activities is categorized as:

1. Historical innovation and

2. Progressive or Future innovation

Features of Historical Innovation:

Focus on product and service innovation

Development and technology driven

Research and development (R&D) plays a central role

Closed and internal to the enterprise

Technology is a differentiator

3. Features of Progressive or Future innovation:

Broad agenda includes on business model innovation

Customer and technology driven

Leadership and individuals play key roles

Research and development is one of the processes that prioritise innovation

Open and collaborative across organizational and corporate boundaries

Technology and business integration are differentiator

And it is found that Indian banks are yet at historical stage as compared with the banks in

developed countries.

Further, various financial inclusion and credit schemes like Pradhanmantri Jan DhanYojna,

Mudra Yojna, Kisan Credit Card play a vital role in rural development but there are still some

financially excluded sections like marginal farmers, landless laborers, unorganized sectors

enterprise and socially excluded groups.

Some innovative steps adopted by Bank of Baroda are as:

1. Digital Portable Branches

2. BC models

3. Customised Mobile Van

4. Account Opening Kiosks

5. Tab and Mobile Banking

Based on the above findings there could be the following suggestions:

6. Facilitation of internet banking as easier to use

7. Create awareness about e- banking

8. Financial literacy program should be developed

Scope and limitation:

Although the research is based on the innovations in banking activitiesbut due to time constraints

and lack of resources other countries could not be considered for study. So, the sample under study

is comparatively small and may not rightfully represent the overall views of the globalbanking

presence in India. However, considering the rapid technological and operational changes in banking

industries in India, major and important innovations and its impact have been studied in rural

development and a special reference to Bank of Baroda has been considered for this research work.

References:

1. Sundaram I Satya-Rural Development, Himalaya Publishing House, New Delhi (2009)

2. Sinha, S.K.- Rural Development through Bank Credit, Suneja Publishers, New Delhi

(2009).

3. Sundaram K.P.M. and Dutt Rudar- Indian economy, S. Chand, New Delhi (2005)

4. Tannan, M.L. - Principal and Practice of Banking in India, Orient Law House, New Delhi

(1990).

5. Verma, S.B. et al. - Rural Credit and Co-operative Development, Deep and Deep

Publication, New Delhi (2006)

6. Annual Reports of Bank of Baroda

7. Circulars issued by Reserve Bank of India

ARTIFICIAL INTELLIGENCE IMPORTANCE FOR HUMANS

Richa Verma(Ph.D Scholar, Department of Computer Science and Applications

Makhanlal Chaturvedi National University of Journalism and Mass Communications, Bhopal, M.P.)

Abstract

Abstract

We're a privileged technology to stay in this period full of technological improvements. Long gone are the times when nearly the whole lot became achieved manually, and now we stay in the time in which numerous work is taken over by way of machines, software program and numerous computerized approaches. In this regard, Artificial intelligence has a unique place in all of the development made nowadays. Artificial intelligence is the technological enhancement of computer systems and machines growing intelligence like people. On this era, the machines are capable of do some of the easy to complex stuff that people need to do on an everyday foundation. As the AI structures are not used on an each day basis in our daily existence, it isn't always wrong to say that our lives have additionally turn out to be advanced with using this technology.The AI systems are green enough to lessen human efforts in numerous regions. On the way to perform various activities within the enterprise, many of them are the usage of AI to create device slaves that perform numerous activities on an ordinary basis. The artificial intelligence applications assist to get the work finished quicker and with accurate effects. Blunders free and green worlds are the mail motives behind artificial intelligence. those are broadly been utilized in banking and economic systems, medical science, heavy industries, air transport, face of gaming, etc.Key words: Technological advancements, science of computers, efficient world, machine slaves.

IntroductionThe association of AI with common people today might be limited to Hollywood films like Terminator, iRobot, Ex Machina, etc. a couple of years ago, but the technology today is with artificial intelligence on a regular basis through computers, phones and other smart devices.It has revolutionized the technology landscape that millions of people reap benefit from.However, there are lots of people who are concerned about the actual impact of artificial intelligence-whether it’s good for the society or not. Finding a proper answer has become important as there are individuals who are deeply skeptical about AI’s potential and are wary of what would be the impact of technology in the society.From Perceptron to Deep Neural NetsXOR ProblemThe XOR, or “exclusive or”, problem is a problem where given two binary inputs, we have to predict the outputs of a XOR logic gates. As a XOR function must return 1 if the two inputs are not equal and 0 otherwise. Table 1 below shows all the possible inputs and outputs for the XOR function:+-----------+-------------+| input1 | input2 | output| +-----------+-------------+| 1 | 1 | 0 | | 1 | 0 | 1 | | 0 | 1 | 1 | | 0 | 0 | 0 | +-----------+-------------+Now, let us plot our dataset and see how the nature of our data is.def plot_data(data, labels): """

argument: data: np.array containing the input value labels: 1d numpy array containing the expected label """ positives = data[labels == 1, :] negatives = data[labels == 0, :] plt.scatter(positives[:, 0], positives[:, 1], color='red', marker='+', s=200) plt.scatter(negatives[:, 0], negatives[:, 1], color='blue', marker='_', s=200)positives = np.array([[1, 0], [0, 1]])negatives = np.array([[0, 0], [1, 1]])

data = np.concatenate([positives, negatives])labels = np.array([1, 1, 0, 0])plot data(data, labels)

After seeing the figure above, we might rethink whether this XOR problem is needed a simple problem or not. It can be seen that, the data here is not linearly separable, hence, some well-known liner model, such as logistic regression might not classify our data. To understand clearly, below are some decision boundaries that are built using a very simple linear model:

It is clear that the classifier in the above figure will work for non-linear separable data.

About Neural NetworkIt is also known as Artificial Neural Network is a good function based on the ways in which the human brain works. Figure 1 shows the analogy.

Figure 1. (a) Structure of neurons in brain

(b) Analogy of Artificial Neural Network with Biological Neural Network-image taken from cs231n.github.ioThe neuron receives signals through Dendrite. This information are then passed through to the Soma or the Cell Body. In the cell body, all information is summed up to generate an output. When the summed up result reaches a thresh hold value, the neuron gives the information that will be carried through the axon, then to other connected neurons through synapses. And it depends upon the strength of the connections.The whole process is carried and is adopted by the ANN. The dendrite has the weighted inputs based on their interconnection in an ANN. If the output is more than the threshold unit, the neuron will fire the output of this to the other neurons.But when we face challenges we are blessed with some good opportunities as well. The major

benefits of AI to mankind are:Major social benefits

a. Healthcare This has been one of the focused points of AI. It boosts of a large amount of data to populate and analyze computational improvements. Merantix, a German company, applies deep learning to medical issues. It detects lymph nodes in the human body in Computer Tomography (CT) images. Through deep learning an irregular-appearing vs a normal-looking lymph node patterns is applied by radiological imaging specialist and they identify the extent to which somebody is at risk of carcinogenic lymph nodes, at a lower cost.The AI tools helps us predict challenges for patients’ education and proactive interventions, which help people to maintain their wellbeing.

b. TransportationIn this field where autonomous vehicles like cars, buses, trucks, etc. use advanced capabilities that offer features like lane-changing systems, automated vehicle guidance, auto breaking, use of sensors and cameras for collision avoidance, and analyzing information in real time using AI. LIDARs (light detection and ranging systems) play important roles in collision avoidance and navigations. They help to keep fast-moving vehicles in their designated lanes. This helps other vehicles and applying brakes when needed, that reduces road accidents.

c. Prediction of natural disastersThere is an incredible system that can guide, predict which is unimaginable. It is based on simulation of tectonic plates of the earth that gather data for magnetometers and send it for the time of earthquake analysis prediction.

d. FarmingThis sector can be mostly benefited through AI. This industry is full of challenges for natural resources, growing population and plateauing agricultural productivity. An app FarmLogs is been presently used by US farmers, through this they can track the weather, monitor fields, obtain insights into soil and even identify irregular plant growth.Real time data analytics help farmers maximize their crop yields and they can make profits too.

e. Strengthened economyMost of us believe that state adopting AI will lead to unemployment. But, AI promotes a gradual evolution in the field of recruitments, which will be positive with the companies planning ahead. Humans will work more efficiently with the help of AI. As there will be a natural requirement of trained people who will be supervising the systems. It will increase job openings and will solidify economy.

f. Smart citiesSmart cities use environment planning, service delivery, energy utilization, resource management and crime prevention. AI is used in application that include traffic signals, e-governance, smart meters for utilities, Wi-Fi etc.Instead of addressing service issues in ad hoc manners, AI is proactive in providing services in urban sectors.

g. Overall lifestyleThe mundane tasks like data entry or answering emails can be performed by intelligent assistants, therefore human can focus on more creative works.Smart homes can be made safer to provide better security and reducing energy usage. This would be helpful in creating green environment.

h. GamingGames like tic tac toe, chess, etc. are based on heuristic knowledge which requires multiple possible steps.Other areas include natural language processing, vision system e.g., a spying plane or drone which makes use of spatial data, expert system gives clarification of data and incorporate

machine programming, speech recognition, handwriting recognition, intelligent robots have sensors that can detect movement, temperature, pressure like humans.

2. Steps we should takeHow it can be implemented so that it would not be a threat to human.

i. Transparency is the keySuppose, through AI we diagnose a patient an illness, it’s our right to get proper reasoning for that failing which could lead to non-transparency of the system. The implementation of AI should be perfectly done so that the results could be explained clearly to the society and it must also be acceptable. AI should use data science to improve the living conditions.j. Importance of AI curriculumAI should be used for effective and efficient replacement of human brain. So, companies must ensure that its replication is been done for the rise in technology in terms of both costs and resources.Data scientists should use high quality protocols in selecting training data and taxonomies for AI. The data must be relevant, accurate, labeled and representative. In addition, our aim should be in improving the fairness and efficacy of AI with proper training data to benefit society. The fundamental principles on privacy should be maintained. The big data analytics solutions are beneficial in usage and retention of personal data needs in minimizing and limiting the ways in which that data could be used in the future.

It’s important to note that AI cannot learn on its own and only we the humans are required to help any type of AI to get a better knowledge of all types of jobs, processes, etc. Leveraging AI as well as the best of human ability and values promises greater progress in accountability, transparency and fairness, And this would be play a critical role in building a strong trust for AI in society.

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