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Flow Experience and Well-Being in Managers

Sahoo Fakir Mohan* and Das Nivedita

Xavier Institute of Management, Xavier Square, Bhubaneswar 751013, Odisha, INDIA
* fakirmohan@ximb.ac.in

The purpose of the present study was to examine the association between self-efficacy and flow experience. The other objective was to investigate the relationship between self-efficacy and well-being. Two hundred managers (100 male and 100 female managers) sampled from modern software organiza-tions in and around Bhubaneswar participated in the study. On the basis of the median split of scores on generalized self-efficacy, individuals within each sex group were categorized into inefficacious and efficacious managers. They were then individually administered measures of work-related self-efficacy, flow experience and a semantic differential measure of well-being. Results supported the hypothesis that efficacious managers experience greater flow than inefficacious managers. Efficacious managers also revealed greater work-related efficacy than ineffica-cious managers. Furthermore, efficacious managers reported greater well-being than did inefficacious managers. There was no sex difference with respect to these parameters. The findings were explained in the light of contemporary theories. Major implication was outlined in the form of efficacy training.

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Succeeding through People – an Overview of How Business Excellence Practices have changed the HR Landscape

Jayaraman R.

Dept. of Operations Management, SP Jain Institute of Management, Andheri West, Mumbai, INDIA
jayaraman@spjimr.org

In the last 60 years HR practices have undergone many changes. Driven by business conditions and advancements in technology, people practices have helped in steep improvements in productivity and value creation. Since the advent of TQM in Japan in 1950, kicked off by the visit of Dr W Edwards Deming, the HR ethos has moved from the days of “Time and Motion Study” of Frederick Taylor to Quality Circles and beyond where the philosophy has been one of “Continuous Improvement leading ultimately to Personal Growth and Self Realization”. The Business Excellence (BE) movement which was started in the USA in 1987 through the declaration of the Malcolm Baldrige National Quality Award (MBNQA) for excellently performing US companies, was a logical extension of the TQM wave that swept Japan and other countries. The MBNQA was followed by several BE models, like European Foundation for Quality Management (EFQM).

Building on the key concepts of TQM, such as Plan, Do, Check, Act (PDCA), the BE models set the tone for a holistic look at managing companies through systematic process deployment. People practices came in for their share of scrutiny and large scale improvements. This study highlights the areas where the BE wave has impacted Human Resources (HR) and people practices. It also deals with the differences between the TQM and the BE ways of embracing the HR function to align people workings with the rest of the company requirements thereby providing the methodologies to ensure that people remain at the centre of the excellence drive by companies in an increasingly competitive world.

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Innovation Management for Inclusive Growth in India

Jessica Mary

School of Management Studies, University of Hyderabad, Hyderabad, INDIA
jessyms@uohyd.ernet.in

The world is advancing towards globalization of markets and homogenization of products and services. The 21st Century and the new millennium have ushered in high hopes and immense opportunities and also came with its bowlful of problems. India too experienced vigorous growth with strong macro-economic fundamentals with sharp increase in savings and investment rate. Despite all the problems and struggles on the political and economic front, the Indian Economy has recorded an impressive growth rate of 5.7 per cent per annum on an average for more than 2 decades.

In the post reform period, the economy has shown a secular growth path of more than 6 per cent. The economy was estimated to grow by 8.5 per cent, though toned down more due to extraneous than fundamental factors to 7.7 per cent is still good enough. Industry and service sector maintained their vigorous growth performance, particularly in manufacturing sector which recorded growth of 11per cent. India has the potential to deliver the fastest growth over the next 50 years. Those fifty golden years are not over yet. There is yet the growth story alive and we can be pursued. However, we cannot, at the same time forget the 220 million people left out of the train, farmers committing suicide, a quarter of the population still illiterate, urban poverty and infrastructural problems.

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Environmental Management System and Corporate Studying in the Function of Energy Efficiency

Nikolić Vesna, Danković Sanja and Galjak Mirjana*

Corporate learning for ecological efficiency and environmental protection is becoming a standard practice in many big and small companies although there is no unique model which would be suitable for every organization. Unlike the corporate learning, which is a process, "learning organization" presents a necessary structure - in fact, cause and consequence of corporate learning for environmental protection. Any organisation, being manufacture, service or else, which promotes the learning of its employees and by this learning continually changes itself can become a learning organisation.

New organisational models are based more on communication and information systems than on the description how people interact. Based on the current needs of energy systems to improve ecological efficiency and implement green business, the paper examines corporate learning in energy systems and relations of learning and environmental management and consider green manufacturing as a concept and strategy of sustainable energy systems of the business.

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Rajarshi Leadership: A Key for Modern Management

Patel Reena

School of Business Management, R K University, Rajkot-360004, Gujarat, INDIA
reena.patel@rku.ac.in

It is widely acknowledged that many lessons from ancient philosophy are important in today’s management. Consistency, self-knowledge, fairness, self-discipline, thrift, responsibility for our actions and their effects on others and ability to lead by example are values and principles dominant to ancient Indian philosophy, while they also constitute core characteris-tics that organizations and business leaders should manifest today. We observe in present world that despite of the so called developments in science and technology, things have become more complex at least from the point of view of harmony, humanity, trust, love and human relationships. The epidemic of corporate scams, frauds and scandals is spreading worldwide. The society, every now and then, witnesses unethical activities committed by large business organizations doing lot of damage to common people, investors, employees and environment.

The relevant questions that comes to mind are that why things are becoming complex, why there is crisis of humanity in world society, why so many large business corporations are getting themselves involved in unethical practices, why common man is losing hope, why everybody wants to dominate others and what can be the solution for the evils that is prevailing in the world society. This study gives an insight for leadership concept and its reflection on modern management with Kautilya’s management model as Rajarshi leadership example. Rajarshi leadership which is an ancient Indian concept of ideal leadership is offered as a solution for the modern business world.

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Case Study:
An Empirical Study of Corporate Dividend Policy – A Study with reference to Selected Auto Sector

Solanki Ashvin H.

School of Management, RK University, Rajkot – Bhavnagar Highway, Kasturbadham 360020 (Gujarat), INDIA
drashvinsolanki@yahoo.com

Dividends are usually settled on a cash basis, store credits (common among retail consumers' cooperatives) and shares in the company (either newly-created shares or existing shares bought in the market.) Further, many public companies offer dividend reinvestment plans which automatically use the cash dividend to purchase additional shares for the shareholder. A cut in dividends generally hurts a stock’s price because it sends a signal to stockholders that management’s outlook for the future is that the company cannot continue to pay the dividend. Most companies therefore start off with a low dividend and only increase it when they feel that the earnings prospects have improved sufficiently to allow for maintaining a higher dividend. Many companies will even borrow money in a bad year in order to avoid cutting the dividends. Dividends must be "declared" (approved) by a company’s Board of Directors each time they are paid. For public companies, there are four important dates to remember regarding dividends.

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Optimal Portfolio Construction with Nifty Stocks (An analytical prescription for investors)

Saravanan A.* and Natarajan P.

Department of Commerce, Pondicherry University, Pondicherry, INDIA
*saravanan14mcom@gmail.com

This study attempts to construct an optimal portfolio by using Shapre’s Single index model. For this purpose NSE, NIFTY and all the 50 stocks have been used as market index for preparing portfolio. The daily data for all the stocks and index for the period of April 2006 to December 2011 have been considered. The proposed method formulates a unique cut off point (Cut off rate of return) and selects stocks having excess of their expected return over risk free rate of return surpassing this cut-off point. Percentage of investment in each of selected stocks is then decided on the basis of respective weights assigned to each stock depending on respective beta value, stock movement variance unsystematic risk, return on stock and risk free return vis-a-vis the cut off rate of return. The optimal portfolio consists of four stocks selected out of 50 short listed scripts, giving the return of 0.116 %.

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Critical Evaluation of Knowledge Management Frameworks for I.T. Services Organizations

Indira V., Suganthi L.1* and Samuel Anand A.2

Dept of Management Studies, Anna University, Chennai 600 025, INDIA 2. VIT University, Vellore 632 014, INDIA
* suganthi_au@yahoo.com

Knowledge has become the key driving force in business. The need for knowledge is being increasingly felt in recent years because it reflects best practices and therefore the success of an organization. It is fundamental that knowledge should be utilized and shared within the organization. The main objective of the study is to identify the best knowledge management frameworks suitable for IT services organisation.

The influence of the critical factors in each of the framework was determined using a focus group interview. Knowledge Management Practices (KMP) Index was formulated for each framework. An instrument was designed to determine the presence of the critical factors of Knowledge Management in IT services organisations. An IT service organisation was identified wherein the instrument was administered. The KMP Index was determined for the organisation using which KM framework was recommended for the organisation. Adopting the strategy proposed in KM framework will enable the organisation to convert its intellectual assets, to face competition and achieve greater productivity.

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