Advances In Management

Indexed in SCOPUS, Chemical Abstracts Services, UGC, NAAS and Indian Citation Index etc.

Advances In Management

Vol. 12(1) March 2019

Role of FDI in the process of Economic Development

Patil Jagdish and Purohit Devnarayan

Page No: 1-3

FDI is commonly referred to as investment which is made to acquire long term interest in enterprises operating outside of the economy of the investor. FDI has played a very important role in the development of the Indian economy. It has facilitated to achieve a certain degree of financial stability, helps in increasing employment and also in promoting international trade, growth and development. Foreign Direct Investment is one of the main sources to supplement domestic capital and also bring in the latest technology and managerial abilities. After 1991 economic reforms, all the restrictions which were earlier in place on these investments were removed.

As a result, the volume of foreign direct investment has significantly increased. Moreover, the composition and type of FDI have also changed. This has stimulated high hopes that FDI may serve as a catalyst to higher economic growth. From time to time government of India has taken a number of steps to boost FDI inflow into the country. One of such recent step is “Make in India” initiative launched by Prime Minister Mr. Narendra Modi in September 2014. This initiative was launched with the objective of liberalizing the FDI norms and improving ease of doing business in the country.

Investigating the Compliance of Tourism Principles with the Components of Sustainable Tourism: Bangladesh Perspective

Mowla Muhammad Masrurul

Page No: 4-7

This is qualitative research that has been prepared by using secondary data. The main objective of this paper is to examine the compliance of tourism principle of Bangladesh with the components of the sustainable tourism that is prepared by the United Nation World Tourism Organization (UNWTO). This paper describes that Bangladesh has a $421.4 billion travel and tourism economy. The Bangladesh government formed the national tourism policy-2010 to attain the goal of sustainable tourism.

This study finds that national tourism policy-2010 has nine policies or principles and all of these comply the components of the sustainable tourism. Finally, this study recommends some steps to attain the goal of sustainable tourism in Bangladesh.

The Role of Commercialisation of the European Football Business for the Emotional Bond between Fans and Clubs

Busse Ronald and Damiano Jean-Pierre

Page No: 8-29

Football in Europe tends to be less about the game and more about the business. At the same time criticism among fan communities against an ever-increasing commercialisation grows. On the basis of narrative interviews, we build a typology of consumer-oriented, experience-oriented and football-addicted fans. Our results show that the growing commercialisation and global expansion of football are having negative effects on the emotional relationship between fans and clubs. Fans feel that global marketing has pushed them out of the national focus of the clubs and they also fear a loss of fan culture and traditions.

Apart from all financial expenses for fans through increased ticket prices, merchandise items etc., fans are primarily focused on the attention of the clubs and the preservation of the fan cultures and traditions. We discuss recommendations for clubs and fan associations to engage in a joint dialogue.

Economic evaluation of the Health, Safety and Environment (HSE) management system

Vatani Javad and Mehjabeen

Page No: 30-33

Today, the growth of high technology industry causes some problems like air pollution, job side effects and occupational diseases which force us to implement an HSE-MS management system in different projects. This study will measure the profitability of investment in HSE-MS system using the internal rate of return (IRR) method. In this cross-sectional study, the values of the project cash flow stream in terms of different time periods were predicted. So, the calculation of these values as crisp numbers was so risky and the accuracy of final results will be ambiguous. Hence, this study has defined the values of cash flow streams as fuzzy numbers and then calculated the profitability of the HSE-MS system implementation project using the IRR measure under fuzzy environment.

The mean value of IRR was equal to 22% by using the FIRR (Fuzzy Internal Rate of Return). Also considering the point that the minimum value of IRR based on the FIRR was 14% and 18% respectively and the fact that these values are greater than the market rate (7%), the HSE-MS system implementation will be an economic and advisable project. The economic evaluation of the HSE-MS system was performed using the greater possibility index. Also, a power plant in Tehran city was investigated as a case study. Based on the obtained results, the HSE-MS system implementation was strictly advisable because of its benefits.

Increase in number of Online Services and Payments through Mobile Applications Post Demonetization

Joshi Upadhyay Sheetal, Purohit D.N. and Vyas Anup

Page No: 34-38

Post demonetization, digital payments can be held responsible for the change in the buying and selling behavior of Indian society. Demonetization in the year 2016 resulted in faster adoption of technology to streamline quicker execution of digital transactions. Government of India demonetized all Rs. 500 and Rs. 1,000 banknotes of the Mahatma Gandhi Series in the year 2016. This was the third time in the Indian history where economy saw the phase of demonetization. It left people with no other option but to move slowly towards cashless transactions.

A rapid growth can be seen in the internet usage for using online services. Businessmen, be it on any scale (small/medium/large) are opting for cashless transactions. Online services and payment applications are gaining tremendous popularity these days. The study attempts to understand changes in number of online services and usage of mobile applications post demonetization. The way consumer remarks digital transaction after demonetization, it affects a lot in the society. An online survey has been conducted to provide validity to the study.

Statistical Analysis of Stock Prices of Selected Companies in Construction Industry

Sharma Rashmi Priya and Sharma Arabinda

Page No: 39-47

Construction industry is highly capital-intensive Industry. After economic liberalization most of the Indian company raise fund for their new projects through capital market by issuing shares. However, capital markets are highly volatile and investor needs to have close eye on the market for getting maximum return. In the present study, the stock prices of three construction companies namely DLF Ltd (DLF), Gammon India Ltd. (Gammon) and Hindustan Construction Company (HCC) were studied for their performances in the capital market of Bombay Stock Exchange (BSE). The stock price data of these companies are obtained at monthly time step from BSE website for the duration January 2008 to August 2018. The data was analyzed using various statistical methods such as descriptive statistics, simple moving average (SMA), money flow index (MFI), relative strength index (RSI) and beta Index.

The results showed that stock of DLF is best performer followed by HCC and Gammon. The analysis also provided several clues to investors for making judicious decision on holding or buying or selling the stock during a particular signal revealed from statistical indices used in the study.

Human Resource Management in Japan

Sharma Jyoti and Sharma Sarthak

Page No: 48-53

Japanese economy has been on the threshold of a mega structure growth curve for a couple of decades. This decline has led to a shift in human resource management practices from a traditional approach to a Westernized style. The changes are certain and observable but are limited by a strong Japanese culture ingrained in the history of institutional organisations.5

This study discusses seven most important management practices in their traditional approach and how the increasing influence of globalization and liberalization play a key role in their transformation. The research then reflects on the economic development of Japan leading to the evolution of human resource management systems and how these are being implemented. It is notable from the research that there are obstructions in harmonizing the two different cultures in Japanese HRM practices: the economic need of a change versus highly entrenched culture and mindsets is a constant conflict prohibiting the fast and stable execution of the shift in conduct.

Empowering Leadership Behavior – An Empirical Study with Special Reference to Selected Service Sector in India

Jain Sonal, Jain Sangeeta and Sharma Vivek

Page No: 54-58

In the ever-changing work environment, organizations must benefit from their human asset in order to sustain competitiveness. Therefore, it is important to recognize the role of employees’ perception of leadership in contributing to setup an environment where employees experience empowered, are willing to do more than what is expected and want to stay in the organization. This research investigated the link between empowering leadership behavior of the women managers and demographic variables using data from selected service sector of India.

The main purpose of this research is to study the role of some demographic variable such as age, family structure, marital status etc. on empowering leadership behavior. This study was done on the women managers of the selected service sector (Education, Health, Information Technology, Banking and Insurance) with a sample size of 377 respondents by using structured questionnaire. Analysis was done by using Frequency Distribution and Percentage Analysis, ONE WAY ANOVA, etc. The analysis is done on SPSS software. Numbers of demographic variables are available but for this research, personal demographic variables were taken.

Goods and Services Tax (GST) in India – An Overview and impact

Songara Manoj

Page No: 59-61

GST also known as the Goods and Services tax is defined as the giant indirect tax structure designed to support and enhance the economic growth of a country. The aim of this research paper is regarding impact of GST and its impact on various sectors. With the introduction of GST, there is chaos and confusion among common man. GST bill will be a form for economic integration of India.

The main trait of the GST is to transform India into a unified market by dismantling the present fiscal barrier among states and can expect improved tax compliance. There would be only one tax, that too at the national level, monitored by the central government. GST is also different in the way it is levied — at the final point of consumption and not at the manufacturing stage.

Human Development Index and Gross National Happiness Indices: A Conceptual Study

Verma Vikash

Page No: 62-63

This study tries to explore the relation between Human Development Index and Gross National Happiness Index. In this process an attempt is made to trace the components of human development index and gross national happiness index. The Human Development Index is based on three dimensions i.e. longevity, knowledge and decent living standard and four indicators i.e. life expectancy at birth, mean years of schooling, expected years of schooling and Gross National Income. These dimensions measure the development of any country. Gross National Happiness measure has been designed to include nine core domains that are regarded as components of happiness in Bhutan. These domains are - psychological well-being, health, time use, education, cultural diversity and resilience, good governance, community, vitality, ecological diversity and resilience and living standard.

Although the happiness and human development approaches share much in common but a key difference between them is that while human development is first and foremost a conceptual approach, subjective happiness is an empirical one. Observations of the indicators used in the human development index and gross national happiness index reveal that they are quite dissimilar. But finally, we can conclude that they are complimentary to each other, they cannot use as substitute.

Gap analysis of Soft skills in the curriculum of Higher Education (A case study of Management Institutes in Karnataka)

Kulkarni Sharvari and Kulkarni D.G.

Page No: 64-67

In the knowledge driven world of today, the pace of change is so fast. Strategic advantage to the organizations comes only from the core competences, which are developed by the individuals working in it. Such levels of excellence can be achieved only by investing in Human Resources. Soft skills are becoming inevitable important and are becoming critical in the success of any profession. In this competitive environment, employers are complaining about the lack of pre-requisite soft skills in among the graduates, which is inhibiting them to gain excellence in employability skills. The rationale of this phenomenological study is to investigate the significance soft skills needed to be successful in future employment for the students.

The aim of this study is to comprehend, how the system of higher learning perceives the importance of soft Skills, What are the industry and employers expectations regarding soft skills required for satisfying the employment needs of employers from graduates and also to emphasize on important soft skills to be developed among graduates? Graduates seek to obtain lucrative employment opportunities and employers peruse suitable new recruits from pool of graduates to fill job offerings. The study examines the momentous and development of availability of 16 soft skills at workplace namely, 1) Communication Skills, 2) Interpersonal Skills, 3) Adaptability, 4) Leadership Skills 5) Research Skills, 6) Team Work and Collaboration Skills, 7) Behavioral Skills 8) Positive Attitude 9) Empathy 10) Accountability 11) Passion 12)Critical Observation, 13) Conflict Resolution, 14) Assertiveness, 15) Strong Work Ethic and 16) Emotional Intelligence. The study employed an Explanatory Sequential Mixed Methods Design.

Gold and Investor’s Perspective in Different Market Conditions

Malik Zainab and Soni Neha

Page No: 68-70

The investors are always give preference to invest in Gold as a safe and demanding investment since centuries. Now a new trend has been observed that investors are investing into Gold not for the sake of hoarding the commodity as traditionally been observed, but also as the part of the risk mitigation strategy in their investment portfolio. Research shows an analytical perspective from the investor’s point of view.

This research shows the data published by reputed journals and institutions on the various inflationary market conditions such as Baseline Inflation, Deflation, Stagflation and High Inflation. That will help readers to understand how the financial markets in emerging as well as developed economies of the world react in order to sustain the economic losses due to these conditions is well explained in this study. At the same time, the analytics show the impact on the Gold within the various inflationary conditions.

Implementation of Business Process Re-engineering and its impact on Financial Performance of Banks (With Special Reference to State Bank of India)

Kapoor Sudha and Agrawal Kavita

Page No: 71-73

The banking scenario in India is at cross roads and is continuously evolving, but the progress has been remarkable in recent years with the level of competition increasing in the banking industry. Banks are trying with each other to entice customers with more and more personalized service. Over the last decade, the concept of Business Process Re-engineering (BPR) has entered the industry mainstream in many business houses and services. Leading organisations in almost every industry have discovered that by harnessing, managing and redesigning, the organizations’ business processes can induce spectacular improvements in business performance and customer service.

This study tries to investigate this phenomenon in the context of State Bank of India. BPR implies transforming processes that are part of a larger system in order to enable organizations to empower themselves with contemporary technologies, business solutions and innovations to customize their business processes.

A Role of Top Management Commitment in adapting Information System in Nationalized and Private Banking

Tuteja Simrat and Sharda Parul

Page No: 74-78

Information Technology is the use of any computer, storage, networking and other physical devices, infrastructure and processes to create, process, store, secure and exchange all forms of electronic data Banking sector has adopted information system to convert every manual task into automated form. Information technology is new technology used in banking to ease their work. It also helps to identify potential employees, maintaining complete records on current employees and creating training programs to develop employee skills and talents. It also helps the top level management to identify the future manpower requirements, making strategies, keeping control on every process in order to meet the long term goals and objectives.

This study aims at investigating the role of top management commitment in adapting Information technology practiced in nationalized and private banks. The study is based on primary data collected through a structured questionnaire from the managers of nationalized and private banks. This study is to find out information technology adaptation in private and nationalized banks with respect to demographical variables. To test the hypothesis, Normality, Reliability, Independent t-test and ANOVA were used. Adapting of information technologies applications being practiced were found varied among banking sector based on their size of business.

Impact of Service Quality on Customer Satisfaction in Bangladesh Tourism Industry: An Empirical Study

Mowla Mohammad Masrurul

Page No: 79-83

This research attempts to find the impact of service quality on customer satisfaction in Bangladesh tourism industry. 5 point non-comparative Likert scale has been used to measure the variables. A total of 28 questions were selected including the 22 questions in “original SERVQUAL scale”, along with additional questions to measure the dependent variables. Customer Satisfaction was included. A total of 100 respondents were taken using convenience sampling technique for collecting data. SPSS 22.0 software has been used for performing the analysis of descriptive, regression and correlation respectively.

The results confirm that there is a good relationship between service quality dimensions and customer satisfaction. This study will help the policy makers to make comprehensive planning and strategy how to serve tourists better; it will also help for the overall tourism development of Bangladesh.

Formulation and Pilot project for increasing the TCI in F and V category in Hypermarket

Kulkarni Ramani and Kalyandurgmath Kavita

Page No: 84-90

The Indian retail industry has been evolving continuously from the years and the food and groceries contribute to the largest market share (66.3% as per IBEF report-June 2017) of all the products retailed in India. Over the years, retail stores have evolved from the local Kirana stores to the Hypermarket, the largest format of retail in India currently. A hypermarket is a one stop destination for all the needs of a typical Indian household and thus it is essential that a hypermarket keeps an extremely wide product range of all categories. Few of the main challenges that these hypermarkets face due to the large number of SKUs present are the shrinkage and the dumping of fruits and vegetables and generating a higher Total Commercial Income (TCI). This research paper discusses two important areas of concern to a Hypermarket.

1. To understand factors responsible for generating TCI [Total Commercial Income].

2. To increase the efficiency of Indent tool and analysis of historic data for identifying SKU’s which are beneficial to increase TCI.

To ensure minimum dumping and shrinkage, it is highly important to do the indenting in the most accurate manner possible. And for an accurate indent to be given, the sales forecast also has to be accurate. The methods currently followed in many Hypermarkets are raw and inaccurate as they do not follow a scientific approach. The model uses analytics to forecast sales and indenting is done based on the sale predicted by the forecasting model.