EMERGING TRENDS IN GLOBAL BUSINESS

Edited By THIRD EDITION Dr.P.V.Prabha Prof. S.Viswanathan Prof.A.Prasath Kumar

RVS Institute of Management Studies & RVS College of Engineering & Technology Department of Management Studies
Kumaran Kottam Campus, Kannampalayam, Coimbatore 641 402

Note from the Editors No part of this publication should be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording and/or otherwise without the prior written permission of the author and the publisher, Third Edition: 2012

DISCLAIMER The authors are solely responsible for the contents of the papers compiled in this volume. The publishers or editors do not take any responsibility for the same in any manner.

Publishers Identifier Number Category No ISBN

: : :

909150 4 978-93-81537-00-8

Published by NCRC Publications, 687, Oppanakara Street, Coimbatore- 1. Phone: 9843423321 Email: ncrcparveen@gmail.com

FOREWORD MESSAGE

Dr.P.V.Prabha Director - RVS IMS I congratulate the conference coordinators and staff members of RVS Institute of Management Studies and RVS College of Engineering and Technology, Department of Management Studies for organizing this one day national conference on Emerging Trends in Global Business. This book is a compilation of papers presented in the conference. The basic purpose of any conference like this is to bring out the findings of researcher in the form of papers on a theme, to provide a platform for discussion and to disseminate this knowledge to the public. Crisis is increasingly used as an excuse for bad performance at all levels thus limiting the search for routes out of it. It should not be seen as a destroyer but as a purifier, ensuring the survival and prosperity of the fittest. Business environment has changed and will be changing more than ever in years that are to come - some traditionally powerful markets have weakened while others have grown, cultural and geographical distances between people are fading, innovation in all aspects has become paramount for companies sustainable competitive advantage. How to deal with fast changing environment and how to deal with its outcomes presents an important issue to be tackled by both academics and practitioners. The purpose of this conference is to provide a research forum for academics and practitioners engaged in generating insights for doing business in turbulent environment. This book provides an opportunity for an interdisciplinary take on this issue from HR, Marketing, Finance, General Management, Production and Entrepreneurship viewpoints.

ACKNOWLEDGEMENT
With the blessings of our beloved chairman Dr.K.V.Kuppusamy, Trustee Tmt.Padmavathi Kuppusamy and under the guidance if our Managing Trustee Shri.K.Senthil Ganesh, RVS College if Engineering and Technology and RVS Institute of Management Studies has organized a one day National Conference on Emerging Trends in Global Business on 10th September 2011. We take great pleasure to extend whole hearted gratitude to the intellectual community who contributed their valuable studies and thoughts to our national conference on Emerging Trends in Global Business. We extend our sincere gratitude to the Chief Guest Shri.M.Settu, President, Coimbatore Productivity Counsel and CEO, Syndicate Exports Limited, Coimbatore,, who inaugurated this conference and Lion.K.G.Ramakrishna Murthy, Director, PAST International, Coimbatore, who delivered the special address. Our national conference was enriched by the presence of the Chairpersons

Dr.R.Karuppasamy, Dean, SNS College of Technology, Coimbatore, Dr.R.Saravanan, Director, VLB Janakiammal College of Engineering and Technology, Dr.L.Manivannan, Reader, Erode Arts and Science College, Erode, Dr.R.Vijayakumar, Assistant Professor, Govt. Arts College, Coimbatore, Dr.J.Shanthi Lakshmi Assistant Professor (HR), Sardar Vallabhbhai Patel International School of Textiles and Management, Coimbatore. We thank them wholeheartedly. We are very much thankful to our beloved Director Dr.P.V.Prabha and Principal Dr.V.Gunaraj for their valuable support and guidance for conducting this conference. We extend our warm thanks to our rapporteurs of the sessions for conducting the technical sessions in a successful manner. We thank all our faculty members and students for their wholehearted support rendered for organizing this national conference a remarkable one. And finally, we would likely to express our thanks to the Publisher NCRC Publications for bringing out the research articles as book of edited volume. Dr.P.V. Prabha Prof. S.Viswanathan Prof. A.Prasath kumar Conference Conveners

S.No. 1

INDEX Title RURAL MARKETING- LATEST BUZZ WORD FOR MARKETERS, G.MANICKAM, Asst.Professor MBA Dept. & Research Scholar, Mohamed Sathak College of Arts & Science Sholinganallur, Chennai-119 TOURISM MARKETING-A LOOK INTO KERALA SUVARNA.S, Asst Professor, Department of Management Studies Veltech University, Avadi,Chennai-600054 RURAL MARKETING ISSUES AND CHALLENGES Dr.R.AMUTHA, Associate Professor, Department of Commerce Justice Basheer Ahmed Sayeed College for Women (Autonomous), Chennai 018. EMERGING TRENDS IN MODERN RETAIL MARKETING BEENA T, Asst Professor, St. Thomas College of Arts & Science, Chennai-600107 ELECTRONIC RETAILING Dr.N.RAJENDHIRAN, Prof-Cum-Director, PRIMS M.ARIVALAGAN, Ph.D, Research Scholar, PRIMS, Periyar University, Salem-11 RURAL MARKETING IN INDIAEMERGING TRENDS AND CHALLENGES

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6 K.KALARANI, Asst.Professor., J.H.A.Agarsen College, Madhavaram, Chennai-60 WRAP ADVERTISING: ADVERTISINGS NEW FACE P. PRIALATHA, Doctoral Scholar, Bharathiar School of Management & Entrepreneur Development, Bharathiar University, Coimbatore 641046 Dr. K. MALARMATHI, Associate Professor, Bharathiar School of Management & Entrepreneur Development, Bharathiar University, Coimbatore 641046. TOURISM MARKETING TRENDS AND ISSUES IN INDIAN TOURISM MARKETING S.PADMAPRABA, Asst.Prof, Department of Managements studies Fatima College EMERGING TRENDS IN MODERN RETAILING

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B.DHANALAKSHMI, Research Scholar, Madurai Kamaraj University, Madurai. RURAL CONSUMERS AWARENESS TOWARDS BRANDED PRODUCTS IN MADURAI DISTRICT Dr.R.ALAMELU and Dr.M.NAGARENITHA, Assistant Professor, Department of Management Studies, Fatima College (Autonomous), Madurai-2 BRAND WARS THROUGH ADVERTISEMENT MEDIA Dr. J. SENTHIL VELMURUGAN.Assistant Professor, PRIMS, Periyar University, Salem. B.G.RAMARAJ.Ph.D Scholar, PRIMS, Periyar University, Salem OVERVIEW OF ADVERTISEMENT M.SELVAKUMAR, PH.D., Research scholar, PRIMS. Periyar University, salem-11 Dr.R.SUBRAMANIYA BHARATHY, Assistant Professor, PRIMS, Periyar University, salem-11. CHALLENGES AND PROBLEMS OF RURAL MARKETING Dr.R.SUBRAMANIYA BHARATHY, Assistant Professor Periyar Institute of Management Studies Periyar University K.BALAJI & P.MANIMEKALAI, Ph.D Research Scholars, Periyar Institute of Management Studies Periyar University MEDICAL TOURISM R.VINODHINI, A.SHAKTHI & J.PAVI SUDHA, Sri Krishna Arts And Science College, Coimbatore641008 A REVIEW ON SERVQUAL, CUSTOMER SATISFACTION IN LIFE INSURANCE INDUSTRY Mr. N.PRAKASH, Research Scholar, Bharathiyar University Dr. V.MAHALAKSHMI, Dean (MBA), Panimalar Engineering College, Poonamallee, Chennai. CULTURE: AN ANECDOTAL FACTOR OF CONSUMER BEHAVIOUR TO SETTLE-ON MARKETING STRATEGIES OF MNCS Mrs. M. RAJEE, Research Scholar, (SCSVMV University, Kanchipuram) & Assistant Professor, Department of Management Studies, Mohamed Sathak College of Arts and Science Dr. K. SHYAMA SUNDAR, Research Supervisor,

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(SCSVMV University, Kanchipuram) & Director, Department of Management Studies, Mohamed Sathak College of Arts and Science A COMPARATIVE STUDY ON CONSUMER ATTITUDE TOWARDS BRU AND NESCAF K.RADHAMANI, Asst.Professor, Department of Management Studies, PKR Arts College for Women, Gobichettipalayam, Erode. P.S.AMUDHA, Asst.Professor, Department of Management Studies, PKR Arts College for Women Gobichettipalayam, Erode. PERCEPTION AND CONSUMER BEHAVIOUR TOWARDS PRIVATE LABELS AT RETAIL OUTLETS IN MADURAI CITY Mrs. C.R.MATHURAVALLI, Asst.Professor, Department of Management Studies, NMS.S.Vellaichamy Nadar College, Madurai - 625019 Dr.S.SAKTHIVEL RANI, Assistant Professor, Department of Business Administration, Kalasalingam University. Krishnan Kovil TOURISTS PERCEPTION TOWARDS NILGIRI DISTRICT Dr. G. Santhiyavalli, Associate professor M. Usharani, Ph. D Research Scholar Department of Commerce, Avinashilingam Institute for Home Science and Higher Education for Women Coimbatore-43 A COMPREHENSIVE SWOT ANALYSIS OF FARMERS MARKET IN TAMIL NADU K.ANURADHA BSc (Ag), MBA (Marketing), (PhD). Assistant Professor, Department of Management Studies, K.S.R. College of Engineering, Thiruchengode-637215. THE POTENTIAL OF RURAL MARKET IN INDIA AN ANALYSIS BRAND PERCEPTION OF CUSTOMERS ABOUT TATA GOLD PLUS (A STUDY IN NAGERCOIL BOUTIQUE) Prof. V.T.R. Vijayakumar, Ph.D, Head, Dept. of Management Studies, Mrs. S. Jasmine Suguna & Mrs. Punitha Sahaya Mary Francis Assistant Profs. Dept. of Management Studies, St. Xaviers Catholic College of Engineering,

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Chunkankadai, Nagercoil. TOURISM: ASSESSING THE MARKET SCENARIO IN KANYAKUMARI DISTRICT Chidham Priya. N, Research Scholar, Usha. A, Research Scholar, Dr. M. Edwin Gnanadhas Ph.D., Scott Christian College (Autonomous), Nagercoil, RECENT TRENDS AND EMERGING PRACTICES IN RETAILER PRICING R. MARY SOPHIA CHITRA, Lecturer, Department Of Commerce, The American College, Madurai 2. BRAND MANAGEMENT- AN EFFECTIVE STUDY TO BRING OUT THE CUSTOMERS LOYALTY & BRANDS ASSET VALUE D.Joshua Pradeep CUSTOMER SATISFACTION OF INSURANCE SERVICES IN RURAL AREAS Dr.G.Santhiyavalli, Associate Professor, Department of Commerce, Ms.A.Karthika, Research Scholar, Department of Commerce, Avinashilingam Institute for Home science and Higher Education, Coimbatore. A STUDY ON PROBLEMS IN PRODUCTION AND MARKETING THE RURAL AGRICULTURAL PRODUCTS IN TIRUNELVELI DISTRICT. C.Subash Chandar, & V. Betsy Hannah,Research Scholars, Manonmaniam Sundaranar University, Tirunelveli A STUDY ON IMPACT OF WRAP ADVERTISING ON VEHICLES SPECIAL REFERENCE WITH COIMBATORE CITY K. Yuvaraj, PhD Scholar, Department Of Commerce, P.Govindaraj, PhD Scholar, Department Of Commerce, P.S.G College of Arts and Science, Coimbatore- 641 014 A STUDY ON THE FACTORS INFLUENCING THE ADOPTION OF INTERNET BANKING USING THE EXTENDED TECHNOLOGY ACCEPTANCE MODEL WITH SPECIAL REFERENCE TO SELECTED BANKS IN COIMBATORE CITY. Ms. Thamarai Selvi P, Assistant Professor, Mr. N.Ramu, Assistant Professor, Ms. Divyadarshini and Ms. Dinahari, II MBA , School of Management, Sri Krishna College of Engineering and

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Technology, Coimbatore. EMERGING TRENDS IN MODERN RETAILING IN INDIA R.SUDHA, PhD Scholar, Department of Commerce, M.NAGAJOTHI, PhD Scholar, Department of Commerce, PSG College of Arts&Science, Coimbatore MERGERS AND ACQUISITIONS THE ORDER OF THE DAY ASHWIN. J, Ph.D Research Scholar, University Of Madras IMPACT OF MACRO ECONOMIC FACTORS ON INDIAN STOCK MARKET AN EMPIRICAL STUDY R.JAYAMURUGAN, MBA., M.Phil.,Assistant Professor, D. VASANTHA KOKILA, MBA., M.Phil., Research Scholar, Department of Management Studies, ARM College of Engineering and Technology, Chennai. FINANCIAL INCLUSION TASKS AND STRATEGIES R.JAYAMURUGAN, MBA., M.Phil., Assistant Professor, D. VASANTHA KOKILA, MBA., M.Phil., Research Scholar, Department of Management Studies, ARM College of Engineering and Technology, Chennai. MERGERS AND ACQUISITIONS THE ORDER OF THE DAY ASHWIN. J, Ph.D Research Scholar, University Of Madras IMPACT OF MACRO ECONOMIC FACTORS ON INDIAN STOCK MARKET AN EMPIRICAL STUDY R.JAYAMURUGAN, MBA., M.Phil.,Assistant Professor, D. VASANTHA KOKILA, MBA., M.Phil., Research Scholar, Department of Management Studies, ARM College of Engineering and Technology, Chennai. FINANCIAL INCLUSION TASKS AND STRATEGIES R.JAYAMURUGAN, MBA., M.Phil., Assistant Professor, D. VASANTHA KOKILA, MBA., M.Phil., Research Scholar, Department of Management Studies, ARM College of Engineering and Technology, Chennai. IMPACT OF E-FINANCE IN ECOMMERCEINNOVATIONS AND CHALLENGES K.BHAGYA LAKSHMI, Assistant Professor. School of Management Studies Chaitanya Bharathi Institute of Technology, Hyderabad, AP -500059 E-FINANCE

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MRS.M.DHARANI, MS.N.PRIYA NANDHINI, & MR.C.EAHAMBARAM, Assistant Professors, Department of Commerce with CA, Dr.N.G.P Arts & Science College, Kalapatti Road, Coimbatore - 48. ECONOMIC IMPACT OF MICRO FINANCE A COMPARATIVE STUDY OF SHG IN TIRUNELVELI DISTRICT R. SRIDEVI, Research Assistant, Dr. S. MOOKIAH, Associate Professor cum Deputy Director & N.SUJA, Ph.D. Research Scholar in Economics Centre for Study of Social Exclusion & Inclusive Policy Manonmaniam Sundaranar University Tirunelveli-627012 AN ANALYSIS OF FINANCIAL INCLUSION INDEX N.CHITHRA, M.Phil Scholar, Department of Commerce & Financial Studies, Bharathidasan University, Tiruchirappalli. DR.M.SELVAM, Associate Professor & Head, Department of Commerce & Financial Studies, Bharathidasan University, Tiruchirappalli. IMITATION, INCREMENTAL INNOVATION AND CLIMB DOWN: A STRATEGY FOR SURVIVAL AND GROWTH OF NEW VENTURES DR.T.SARATHY, Assistant Professor, PRIMS, Periyar University, Salem 11, MR.C.SILAMBARASAN, Ph.D Research Scholar, PRIMS, Periyar University, Salem 11, IMPROVING RURAL FINANCIAL ACCESS FOR THE INCLUSIVE GROWTH OF THE COUNTRY; AN EMPIRICAL STUDY OF FINANCIAL ACCESS OF KOZHIKODE DISTRICT OF KERALA SHAMEEM P K Research Scholar, Mahatma Gandhi University Kottayam A STUDY ON INDIAN MUTUAL FUND INDUSTRY AND ITS IMPACT IN INDIAN CAPITAL MARKET Mr. A.D.J. Rajesh, Asst. Professor at M.A.M. B-School, Siruganur, Tiruchirappalli, Tamilnadu, India Mr.S. Cliffford Paul, Director at M.A.M. B-School, Siruganur, Tiruchirappalli, Tamilnadu, India AN EMPIRICAL EXAMINATION OF STOCK PRICES

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BETWEEN INDIAN EQUITY MARKET INDICES AND SELECTED ASIAN EQUITY MARKETS K.Lingaraja, Ph.D. Research Scholar, Department of Commerce and Financial Studies,Bharathidasan University, Tiruchirappalli- 620 024, Dr.M.Selvam, Associate Professor & Head, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli- 620 024, IMPROVING RURAL FINANCIAL ACCESS FOR THE INCLUSIVE GROWTH OF THE COUNTRY; AN EMPIRICAL STUDY OF FINANCIAL ACCESS OF KOZHIKODE DISTRICT OF KERALA Shameem P K Research Scholar, Mahatma Gandhi University Kottayam, CHANGE MANAGEMENT SPECIAL REFERENCE TO ROLES IN CHANGE MANAGEMENT AND TEAM CHANGE M.LAKSHMIDEVI, Research Scholar -Bharathiar University DR.R.MARIA INIGO, Bharathidasan Govt Womens College, Pondicherry EMPLOYEE ENGAGEMENT: AN EARTHSHATTERING FACTOR IN GLOBAL ARENA MR. S. KASINATHAN., Research Scholar, (Bharathiyar University, Coimbatore) DR. K. SHYAMA SUNDAR, Research Supervisor, (Bharathiyar University, Coimbatore) & Director, Department of Management Studies, Mohamed Sathak College of Arts and Science, Sholinganallur, 600-119. ROLE OF HUMAN RESOURCE MANAGEMENT IN DEVELOPING THE ENTREPRENEURSHIP C. LUMINIA VINODHINI, Asst .Professor-Dept of Commerce, Anna Adarsh College for women, Chennai. THE NEED OF 720 DEGREE PERFORMANCE APPRAISAL IN COMPANIES MS.SHAMSI SUKUMARAN K, Faculty Member, Amity Global Business School Ernakulam

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PSYCHOLOGICAL STRESS AND JOB SATISFACTION AMONG PSYCHOTRIC NURSES AND OTHER SPECIALTIES IN HEALTHCARE A LITERATURE REVIEW Dr. P. THIRUMOORTHI, Assistant Professor, Periyar Institute of Management Studies, Periyar University, Salem 636 011. G.VENKATESAN, Full-Time research Scholar, Periyar Institute of Management Studies, Periyar University, Salem 636 011. OCCUPATIONAL SAFETY AND HEALTH D.GOPINATH, RESEARCH SCHOLAR, American College, Madurai CONSUMER BEHAVIOUR ON MALLS IN CHENNAI CITY Dr. N.CHITHRA., Assistant Professor Anna Adarsh College For Women, EMPLOYEE ENGAGEMENT A.NIXON JESURAJ, Research Scholar, American College, Madurai TRAINING IN ORGANIZATIONS: AN OVERVIEW ROOHI KURSHEED KHAN. S, Ph. D Scholar, DR. RUPA GUNASEELAN, Associate Professor, Bharathiar School of Management & Entrepreneur Development, Bharathiar University, CBE EMPLOYEE ENGAGEMENT - A MODEL BASED STUDY SAVITHA.V, Head of the Department, Assistant Professor, JANANI.P, Department of Business Studies, Department of Business Management,CMS College of Science and Commerce,Coimbatore. ROLE OF SELF HELP GROUP IN WOMEN EMPOWERMENT AND POVERTY MITIGATION DR.J.SENTHILVEL MURUGAN, Faculty- PRIMS, Periyar University, MR.S.BALA MURUGAN. Assistant Professor, RVS Institute of Management Studies, Coimbatore. BUDDING TRENDS IN CHANGE MANAGEMENT Ms.N.KAVITHA M.Com, PGDCA, MBA., M.Phil.

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Assistant Professor in commerce, PSG College of Arts and Science, Coimbatore- 641 014. KNOWLEDGE MANAGEMENT DR. P.RADHA, Associate Professor, RVS Institute of Management Studies, Kumaran Kottam Campus, Kannampalayam, Coimbatore A MODEL ON SUCCESSION PLANNING IN ACADEMIA Mrs. B. LAVANYA, Assistant Professor School of Management Studies Chaitanya Bharathi Institute of Technology CREATING EMPLOYER BRAND TO ATTRACT TALENT MRS.V. SUBHA MBA.,M.PHIL.,(PH.D)., Associate Professor, RVS Institute of Management Studies, Coimbatore. DR. B. SRIPIRABAA, MBA., PH.D.,, Associate Professor, GRG School of Management Studies Coimbatore. A STUDY ON PERFORMANCE APPRAISAL 720 DEGREE IN IT INDUSTRY C. Kala - Research Scholar Dr. M. Sakthivel Murugan Research Guide EMPLOYEE ENGAGEMENT: A MOTIVATIONAL TOOL Dr.S.N.Soundara Rajan, Professor, Saveetha School of Management, 162, Poonamallee High Road, Chennai snsrajan@yahoo.com IMPACT OF OCCUPATIONAL STRESS AMONG EMPLOYEES IN WORK ENVIRONMENT Dr. B. SRIPIRABAA, Associate Professor, GRG School of Management Studies, Peelamedu Coimbatore 641004, A.S.DIVYA, Assistant Professor, P.K.R. Arts College for Women, Gobichettipalayam, Erode AN EMPIRICAL STUDY ON EMPLOYEE ENGAGEMENT Dr.P.PARAMANANDAM, GRG School of Management Studies, PSGR Krishnammal College for Women, Coimbatore. SUBJECTIVE WELL-BEING AMONG THE

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MANAGERIAL PERSONNEL OF TEXTILE INDUSTRY Dr.P.PARAMANANDAM, GRG School of Management Studies, PSGR Krishnammal College for Women, Coimbatore. QUALITY OF WORK LIFE AND ITS RELEVANCE AMONG EMPLOYEES IN A FOUNDRY UNIT Dr. B. SRIPIRABAA, Associate Professor, GRG School of Management Studies Peelamedu, Coimbatore 641004 Ms. Y. BENAZIR, Assistant Professor, Department of Business Management, PSGR Krishnammal College for Women Peelamedu, Coimbatore 641004 A STUDY ON INFLUENCE OF INTERNAL WORK MOTIVATION ON EMPLOYEES WORK PERFORMANCE M.PRIYADARSHINI, M.Phil Research Scholar, Bharathiar School of Management Entrepreneur and Development Bharathiar University, Coimbatore-641046 M.BLESSY DOE M.Phil Research Scholar Bharathiar School of Management Entrepreneur and Development Bharathiar University, Coimbatore-641046 R.YAMUNA M.Phil Research Scholar Bharathiar School of Management Entrepreneur and Development Bharathiar University, Coimbatore-641046 SUCCESSION PLANNING Ms.S.SriDevi M.B.A., M.Phil., Lecturer, Department of Management Studies, M.P.Nachimuthu M.Jaganathan Engineering College, Chennimalai, Erode-638112 Mr.R.SatheeshKumar M.B.A., M.Phil., (Ph.D) Assistant Professor, Department of Management Studies, Mr.D.Umasankar II MBA Student M.P.Nachimuthu M.Jaganathan Engineering College, Chennimalai, Erode638112 A STUDY ON STRESS MANAGEMENT AMONG EXECUTIVES OF SDCMPUL 720 A DISTINCT METHOD OF PERFORMANCE APPRAISAL A.Hilary Joseph, Lecturer in Commerce, The American College, Madurai-2

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A STUDY ON OCCUPATIONAL HEALTH AND STRESS Mrs.D.KANAKAVALLI, Lecturer in Commerce, The American College, Madurai 625 002 71 KNOWLEDGE MANAGEMENT IN HIGHER EDUCATION R.MARY GEETHAM Research Scholar Loyola College, Asst.Prof, Department of Corporate Secretaryship, Anna Adarsh College for Women Dr.T.JOSEPH, Professor, Department of Commerce, Loyola College 72 PERFORMANCE MANAGEMENT SYSTEMS - A STUDY TOWARDS STUDENTS KNOWLEDGE AND UNDERSTANDING N.POORNA CHELVAN, Assistant Professor, Department of Management Studies, Dr.T.VANNIARAJAN, Associate Professor, Department of Business Administration, NMS S.Vellaichamy Nadar College, Nagamalai, Madurai 19. 73 A STUDY ON SOURCES OF CONFLICT AND CONFLICT MANAGEMENT STYLE IN IT AND ITES COMPANIES IN COIMBATORE DISTRICT Dr. Visaga moorthi Asst Professor P. Suganthi Student 74 QUALITY OF WORK LIFE FOR FINANCE PROFESSIONALS INDIA P.VIJAYAKUMAR M.B.A., M.Phil, ResearchScholar, KARPAGAM UNIVERSITY, Coimbatore G.SIVARAMA KRISHNANA, Professor, Department of Management Studies, Karpagam College of Engineering and Technology, Coimbatore 75 AN ANALYTICAL STUDY OF PERFORMANCE APPRAISAL SYSTEM OF THE SELECTED INFORMATION TECHNOLOGY (IT) SERVICE COMPANIES IN CHENNAI (TAMIL NADU) M.RAVISANKAR, Research Scholar, Department of Business Administration,

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Dr.K.SAKTHIVENDAN, Assistant Professor, Department of Business Administration, Annamalai University SELF HELP GROUPS VS MULTI NATIONAL CORPORATIONS' IN INDIAN RURAL MARKET WITH SPECIAL REFERENCE TO FAST MOVING CONSUMER GOODS SECTOR: IS IT A UTOPIAN IDEA? D.TAMILARASU, Asst. Professor cum Asst. Director, Center for the Study of Social Exclusion and Inclusive Policy, MS University, Tirunelveli. ROLE OF AN ENTREPRENEUR IN ECONOMIC DEVELOPMENT V.ARUNKUMAR, Asst.prof, Department of Management Studies, AJAY BABU. M, II-MBA Sudharsan Engineering College, Sathiyamangalam, Pudukkottai-622 501 THE ROLE OF ENTREPRENEURSHIP IN EDUCATION V.ARUNKUMAR, Asst.prof, Department of Management Studies, ATHISIVAM. M, II-MBA Sudharsan Engineering College, Sathiyamangalam, Pudukkottai-622 501 ENTREPRENEURIAL IMPEDIMENTS IN BRICK UNITS Dr.S.C.B.SAMUEL ANBU SELVAN, Assistant Professor of Commerce, The American College, Madurai. ENTREPRENEURS AND CORPORATE SOCIAL RESPONSIBILITY C.DEEPAKKUMAR, Asst. Professor, Department of MBA, KV Institute of Management and Information Studies, Coimbatore. ENTREPRENEURSHIP & SMALL BUSINESS UNITS IN TIRUPUR DISTRICT Dr V.B.USHA Professor & Head, PG & Research Department of Management Science, Ms S.MEKALA, Assistant Professor, PG & Research Department of Management Science Parks College,

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Chinnakkarai, Tirupur 5, SHG & WOMEN ENTREPRENEURSHIP A CLOSER LOOK PROF. V.N. PARTHIBAN, Department of Commerce, RKM Vivekananda College (Govt. aided), Mylapore, Chennai-600 004. EDUCATIONAL INSTITUTIONS AS CATALYST FOR DEVELOPING ENTREPRENEURS DR. P. SHYAMALA , Asst. Professor, Dept. of Management Studies Fatima College, Madurai. INCLUSIVE GROWTH OF WOMEN ENTREPRENEURS IN INDIA S. PANDISELVI, Assistant Professor, & R.R. MANASA, Department of Commerce, Sri Krishna Arts and Science College, Coimbatore WOMEN ENTREPRENURSHIP CHALLENGES AND PROSPECTS IN INDIA R. SRI DEVI, Research Assistant, & N. SOFIA, M. Phil Scholar Centre for Study of Social Exclusion and Inclusive Policy, Manonmaniam Sundaranar University, Tirunelveli 12. VENDOR RATING A CASE STUDY GOVINDA BHAT S, Head (Department Of Management Studies) Adi Shankara Institute Of Engineering & Technology, Kalady SOCIAL ENTREPRENEURSHIP & CORPORATE SOCIAL RESPONSIBILITIES U.DHANALAKSHMI, Research Scholar, Lecturer, M.P.N.M.J. Engineering College, Chennimalai. T.S.Janani, Research Scholar, Bharathiar University, Coimbatore. D.Hamsaveni, II MBA, M.P.N.M.J Engineering College, Chennimalai. ENTREPRENEURSHIP FAILURES S.MUTHU KALEESWARAN, CEO, Vijaya Foundations, Trichy V.SRUTHI, PRO, Vijaya Foundations, Trichy WOMEN ENTREPRENERUSHIP: ANALYTICAL

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VIEW SPECIAL REFERENCE TO COIMBATORE CITY Dr. V. B. Usha, Professor & Head , PG & Research Department of Management Science, Parks College ( Autonomous ), Tirupur 5 Ms. K. Meenakshi, Assistant Professor in PG & Research Department of Management Science, Parks College ( Autonomous) Tirupur 5, Ms. K. Gayathri, M.Phil Research Scholar in Management, Parks College ( Autonomous) Tirupur 5, MICRO SMALL AND MEDIUM ENTERPRISES: THE CASE OF ERODE DISTRICT Dr. RUPA GUNASEELAN, Associate Professor, Bharathiar School of Management and Entrepreneur Development, Bharathiar University, Coimbatore 641046. CLOUD COMPUTING MS.V.SINDHUJA, MS.G.VAISHNAVEE, & MR.C.NAGARAJAN, Assistant Professors, Department of Commerce with CA, Dr.N.G.P Arts & Science College,Coimbatore TECHNOLOGICAL CHANGES AND DEVELOPMENTS IN TEXTILE INDUSTRY Dr. P. THIRUMOORTHI, Assistant Professor, Periyar Institute of Management Studies, Periyar University, Salem N.SARANYA, Research Scholar, Periyar Institute of Management Studies, Periyar University, Salem-636 011, CLOUD COMPUTING R.AARTHY, S. ISWARYA & K.S.MALLIKA, III B.Com (CA), Sri Krishna College Of Arts & Science, Coimbatore, Tamil Nadu ENFORCING SECURITY IN AN INTER CLOUD ENVIRONMENT USING HIERARCHICAL KEY GENERATION ALGORITHMS R.MEENAKSHI,Asst.Profesor, Dept of MCA, Fatima College, Madurai B.USHA, Asst. Professor, Dept of MCA, Fatima College,

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Madurai 3 RS IN KNOWLEDGE PROCESS OUTSOURCING INDUSTRY - RESASONS, RISKS AND REWARDS DR. J. SENTHIL VELMURUGAN.Assistant professor, PRIMS, Periyar University S. SUSILA. Research Scholar PRIMS, Periyar University OCCUPATIONAL STRESS A STUDY ON TEACHERS WORKING IN SELF FINANCING COLLEGES IN CHENNAI J. VIJAYA SHANTHI, Lecturer, Dept of Commerce, Anna Adarsh College, Chennai 040 & Research Scholar (Commerce),Bharthiyar University, Coimbatore CRISIS IN INDIAN HIGHER EDUCATION SECTOR Dr.R.SARADHAMANI, Associate Professor, Department of Management Studies, Miss.M.KEERTHANA, II MBA, Department of Management Studies, SNS College of Engineering APPLYING TIME SERIES METRICS DATA TO SOFTWARE QUALITY ESTIMATION S.SUBHA, Assistant Professor, Department of MCA, Fatima College, Madurai S.AMALA DEVI, Assistant Professor, Department of MCA, Fatima College, Madurai CURRENT SCENARIO OF INDIAN TEXTILE INDUSTRY EXPORT PERFORMANCE DR.V.R.PALANIVELU, Reader, PRIMS, Periyar University, Salem-11 R.SANKARGANESH, Ph.D Full Time Research Schollar, PRIMS, Periyar University, Salem-11

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RURAL MARKETING- LATEST BUZZ WORD FOR MARKETERS G.MANICKAM, Asst.Professor MBA Dept. & Research Scholar Mohamed Sathak College of Arts & Science Sholinganallur, Chennai-119 Abstract From the marketing perspective , the market structure in India is dichotomous having rural and urban markets. The fact is that, there are certain unique features which call for separate marketing strategies to be distinctively developed to suit the rural and urban market behaviour. Firstly, the urban markets have almost reached a saturation level that further tapping them with a high profit margin is difficult. Secondly, competition is becoming tough in urban markets compelling many firms to incur heavy costs in promotional expenditure. Thirdly, the awareness level of urban consumers is high and hence product features have to be changed often, which will have a negative impact on profitability. Thus, except perhaps for easy reach the urban markets have become as oasis. Hence, there is a huge untapped potential in the rural markets and the marketers moving towards rural customers to sell their products. It is an extension of their marketing and selling efforts to have more sales volume and more profitability. Key words : Rural marketing, Barter system, Unique Selling Proposition (USP) Rural Markets- A snapshot The rural markets are estimated to be growing fastly compared to the urban markets. The potentiality of rural markets is said to be dinosaur size. These facts are substantiated in a study of market growth conducted by various researches. 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. In this context, a special marketing strategy, namely, rural marketing has taken shape. The factors responsible for the rural market boom are: Increase in rural population and hence increase in demand. A marked increase in the rural income due to agrarian prosperity. Quality of life has increased in rural areas. Large inflow of investment for rural development programmes from government and other sources. Increased contact of rural people with their urban counterparts due to development of transport and wide communication network. Increase in literacy and educational level and resultant inclination to sophisticated lives by the rural folks. Inflow of foreign remittances and foreign made goods into rural areas. Change in the land tenure systems causing a structural change in the ownership patterns and consequent changes in the buying behaviour. Rural markets are laggards in picking up new products. This will help the companies to phase their marketing efforts. This will also help to sell inventories of products out dated in urban markets.

What makes Rural Markets Attractive? The following facts substantiate this: Nearly 800 million people Estimated annual size of the rural market o FMCG Rs. 65,000 Crores o Durables Rs. 5,000 Crores o 2 / 4 wheelers Rs. 8,000 Crores LIC sold 55 % of its policies in rural India. Of two million BSNL mobile connections, 50% in small towns/villages. Of the six lakh villages, 5.22 lakh have a Village Public Telephone (VPT) 41 million Kisan Credit Cards issued (against 22 million credit-plus-debit cards in urban) with cumulative credit of Rs. 977 billion resulting in tremendous liquidity. Of 20 million Rediffmail signups, 60 % are from small towns. 50% transactions from these towns on Rediff online shopping site 42 million rural HHs availing banking services in comparison to 27 million urban HHs. Investment in formal savings instruments: 6.6 million HHs in rural and 6.7 million in urban

Opportunities for Rural Marketers Infrastructure is improving rapidly, thanks to the Govt. Spending In 60 years only 40% villages connected by road, in next 10 years another 30%. More than 90 % villages electrified, though only 44% rural homes have electric connections. Rural telephone density has gone up by 300% in the last 10 years; every 1000+ pop is connected by STD. Social Indicators have improved a lot between 1981 and 2011 Number of "pucca" houses doubled from 22% to 41% and "kuccha" houses halved (41% to 23%) Percentage of BPL families declined from 46% to 22% Rural Literacy level improved from 36% to 59% Low penetration rates in rural so there are many marketing opportunities. Marketers can make effective use of the large available infrastructure o Post offices - 1, 38,000 o Haats (periodic markets) - 42,000 o Melas (exhibitions) - 25,000 o Mandis (agri markets) - 7,000 o Public distribution shops - 3, 80,000 o Bank branches - 32,000 Proliferation of large format rural retail stores which have been successful also. o DSCL Haryali stores o M & M Shubh Labh stores o TATA/Rallis Kisan Kendras o Escorts rural stores o Warnabazaar, Maharashtra (annual sale Rs. 40 crores)

Weaknesses and Challenges of Rural Marketing The rural market offers a vast untapped potential, but at the same time ,it should also be recognized that it is not that easy to operate in rural market because of several problems. Rural marketing is thus a time consuming affair and requires considerable investments in terms of evolving appropriate strategies with a view to tackle the problems. The Challenges are. 1. Barter system still exists in rural India. This is a very major obstacle 2. Underdeveloped people and underdeveloped markets 3. Lack of proper physical communication facilities in more than 50% villages 4. Inadequate Media coverage for rural communication 5. Many language and Dialects, hence coverage becomes very complex 6. Traditional mindset, less receptive to new ideas and new products 7. Agricultural income mostly invested in gold ornaments and weddings. Emerging Trends In Rural Marketing 1. Online rural marketing (internet, nicnet) 2. Information through local agriculture input dealers 3. National Chain Stores 4. Integrated Marketing- Under this concept, both the supply of inputs and servicing of inputs are undertaken at the same point or by the same company. Conclusion Rural markets, as part of any economy, have untapped potential because of their inherent weaknesses. 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. In spite of these many issues, rural marketing offers tremendous scope for marketers to expand their business volume and many companies are moving towards rural customers to satisfy their needs. References 1. V.A. Pai Panandiker & P.K.J. Menon, Rural Industrialization, Oxford & IBH Publishing Co. (P) Ltd., New Delhi, 1986. 2. Dr. T.P. Gopalaswamy, Rural Marketing, Wheeler Publishing, First reprint, Delhi, 1999. 3. Philip Kotler & Gary Armstrong, Principles of Marketing , Eighth Edition, Prentice Hall of India, 1999. 4. S. Neelamegham, Marketing in India, Vikas Publishing House Pvt. Ltd., Seventeenth Revised Edition, Delhi, 1999. 5. M. J. Xavier, Marketing in the New Millennium, Vikas Publishing House Pvt. Ltd., New Delhi, 1999. TOURISM MARKETING-A LOOK INTO KERALA SUVARNA.S, Asst Professor, Department of Management Studies Veltech University, Avadi,Chennai-600054 Tourism is travel for recreational, leisure or business purposes.The WorldTourism Organization defines tourists as people "travelling to and staying in places outside their

usual environment for not more than one consecutive year for leisure, business and other purposes. An activity essential to the life of nations because of its direct effects on the social, cultural, educational and economic sectors of national societies and on their international relations. Tourism brings in large amounts of income in payment for goods and services available, accounting for 30% of the world's exports of services, and 6% of overall exports of goods and services. It also creates opportunities for employment in the service sector of the economy, associated with tourism. These service industries include transportation services, such as airlines, cruise ships and taxicabs; hospitality services, such as accommodations, including hotels and resorts; and entertainment venues, such as amusement parks, casinos, shopping malls,music venues and theatres. Kerala, a state situated on the tropical Malabar Coast of southwestern India, is one of the most popular tourist destinations in the country. Named as one of the ten paradises of the world by the National Geographic Traveler, Kerala is famous especially for its ecotourism initiatives. Its unique culture and traditions, coupled with its varied demography, has made Kerala one of the most popular tourist destinations in the world. Growing at a rate of 13.31%, the tourism industry is a major contributor to the state's economy Until the early 1980s, Kerala was a relatively unknown destination, with most tourism circuits concentrated around the north of the country. Aggressive marketing campaigns launched by the Kerala Tourism Development Corporationthe government agency that oversees tourism prospects of the statelaid the foundation for the growth of the tourism industry. In the decades that followed, Kerala Tourism was able to transform itself into one of the niche holiday destinations in India. The tag line Kerala- God's Own Country was adopted in its tourism promotions and became a global super brand. Kerala is regarded as one of the destinations with the highest brand recall. In 2010, Kerala attracted 0.66 million foreign tourist arrivals.

Kerala- God's Own Country-tag line of Kerala Tourism Development Corporation The state's tourism agenda promotes ecologically sustained tourism, which focuses on the local culture, wilderness adventures, volunteering and personal growth of the local population. Efforts are taken to minimise the adverse effects of traditional tourism on the natural environment, and enhance the cultural integrity of local people. Kerala is an established tourist destination for both Indians and non-Indians alike. Kerala is popular for her beaches, backwaters, mountain ranges and wildlife sanctuaries. The city of Kochi ranks first in the total number of international and domestic tourists in Kerala. Other popular attractions in the state include the beaches at Kovalam,Cherai and Varkala; backwater tourism and lake resorts around Vembanad Lake, Kumarakom and Alapuzha; hill stations and resorts at Munnar, Wayanad, Nelliampathi, Vagamon and Ponmudi; and national parks and wildlife sanctuaries at Periyar and Eravikulam National Park. The "backwaters" regionan extensive network of interlocking rivers, lakes, and canals that centre onAlleppey, Kumarakom, and Punnamadaalso see heavy tourist traffic. Heritage sites, such as the Padmanabhapuram Palace, Hill Palace, Mattancherry Palace are also visited.

Houseboats at Kumarakom in Kottayam district The backwaters in Kerala are a chain of brackish lagoons and lakes lying parallel to the Arabian Sea coast (known as the Malabar Coast). Houseboat or Kettuvalam rides in the backwaters are a major tourist attraction. Backwater tourism is centered mostly around Alappuzha, Kollam and Kumarakom.

Boat races held during festival seasons are also a major tourist attraction in the backwater regions. Flanked on the western coast by the Arabian Sea, Kerala has a long coastline of 580 km all of which is virtually dotted with sandy beaches. Kovalam beach near Thiruvananthapuram was among the first beaches in Kerala to attract tourists. Rediscovered by back-packers and tan-seekers in the sixties and followed by hordes of hippies in the seventies, Kovalam is today the most visited beach in the state. Other popularly visited beaches in the state include those at Alappuzha Beach, Nattika beach[Thrissur district], Vadanappilly beach[Thrissur district], Cherai Beach(Ernakulam district),Kappad(Kozhikode district), Marari beach, Fort Kochi and Varkala(Thiruvananthapuram district). The Muzhappilangad Beach beach at Kannur district is the only drive-in beach in India.

Varkala( north beach) in Thiruvananthapuram district Eastern Kerala consists of land encroached upon by the Western Ghats; the region thus includes high mountains, gorges, and deep-cut valleys. The wildest lands are covered with dense forests, while other regions lie under tea and coffee plantations (established mainly in the 19th and 20th centuries) or other forms of cultivation. The Western Ghats rises on average to 1500 m elevation above sea level. Some of the popular hill stations in the region are Munnar, Vagamon, Wayanad, Nelliyampathi, Peermade and Ponmudi

Lion-tailed Macaque, They are among the World's rarest and most threatened primates, found at Silent Valley National Park in Palakkad district

Scenic beauty of Munnar, Idukki district

The major festival in Kerala is Onam. Kerala has a number of religious festivals. Onam is the national festival of the Gods Own Country celebrated during the Malayalam month of Chingam, which falls in the period of August - September. Legend has it that the mythological King Mahabali a great ruler, whose reign witnessed the golden era of Kerala, visits his subjects from the nether world on the day of Onam. Onam is celebrated with much pomp and gaiety with colorful floral carpets (pookkalam) and the traditional sadya a Lucullan vegetarian banquet served on banana leaf. Onam is also a celebration that reaches across the boundaries of religion celebrated by Hindus, Moslems, Christians and minority communities in the state with equal vigor.

King Mahabali

Traditional sadya The state of Kerala is transformed into a bee-hive of celebration and frolic with the onset of Atham day which heralds the beginning of the ten day long Onam celebration. Its impeccable timing which coincides with the period of harvest season in the state adds further color and gaiety to the celebrations. There are a variety of celebrations held during this period all over the state. Athachamayam, a colorful carnival, held in Thrippunithura - the erstwhile capital of the Cochin royal family on the day of Atham is worth special mention. Keralas famous Snake boat races are held during the season of Onam. Colorful dance performances like Thiruvathira, Thumbi Thullal, Pulikali (Tiger Dance), Kummatti Kali et cetera are a specialty of the season.

A formation of gold-caparisoned elephants at the Thrissur Pooram

UNESCO adjudged Thrissur Pooram as the most spectacular festival event on the planet. Thrissur Pooram is celebrated at of the Vadakkunnathan Temple, situated on a hillock

(Thekkinkadu maidan) in the centre of the city, on the Pooram day in the month of Medom (AprilMay). Processions of richly caparisoned elephants accompanied by percussion ensembles from various neighbouring temples culminate at the Vadakumnathan temple. The most impressive processions are those Thriuvambadi Bhagavathy from the Thiruvambadi Sri Krishna Temple and the Paramekkavu Bhagavathi from Paramekkavu temple. The celebrations which last for over 36 hours include parasol displays and firework shows. Medical tourism, promoted by traditional systems of medicine like Ayurveda and Siddha are widely popular in the state, and draws increasing numbers of tourists. A combination of many factors has led to the increase in popularity of medical tourism: high costs of healthcare in industrialised nations, ease and affordability of international travel, improving technology and standards of care. In fact, today, Kerala is the only State in India which practises this system of medicine with absolute dedication.

With increasing threats posed by global warming and changing weather patterns, it is feared that much of Kerala's low lying areas might be susceptible to beach erosions and coastal flooding. The differing monsoon patterns also suggest possible tropical cyclones in the future. The government should plan and execute good plans with public participation to improve and tap the potential in the State.

RURAL MARKETING ISSUES AND CHALLENGES Dr.R.AMUTHA, Associate Professor, Department of Commerce Justice Basheer Ahmed Sayeed College for Women (Autonomous), Chennai 018. Rural India is an emerging market within the emerging market of India. The 2011 census showed that about 830 million of the 1.3 billion Indians still live in rural areas. Indias rural economy, according to some estimate is already larger than many developed economics in the world. The consumer market of rural India alone is estimated to be close to Rs.9.500 billion, which is expected to grow to Rs.30,000 billion by 2020. A lot of this growth will come because a significant part of the present rural India will urbanize rapidly. By 2020, Indias rural and urban populations are likely to become equal. I. Why Rural? The liberalization policies by the Indian Government in early nineties and the subsequent phenomenon of globalisation have led to huge inflow of foreign investments and entry of large numbers of multinational corporations in India. As products and markets are turning global, companies face intense competition and are therefore looking for untapped markets in rural and semi-urban towns.

Rural market in India is complex considering that influence of community, customs, beliefs and castes are more prominent here as compared to urban areas. There are also variations in language, household income and consumption pattern across different regions. It therefore needs to be treated as a distinct market and firms must adopt polycentric rather than the ethnocentric approach to service this huge market, which by its population is much bigger than many of the foreign nations. Rural buyers are influenced by number of factors, which organisations have to study while formulating their marketing strategies. They are v peculiar income and consumption patterns besides customs and habits, which demand adaptation, propagation, patience and hard work. v average household incomes in rural India are much lower than in urban India. The frequency of purchase and use of most products and services is lower in rural India. On the other hand, the great volume makes up for lower per capital sales. v Though there are selling opportunities for all kinds of things in rural India, the demand is particularly acute for the products and services that are basic to modern life. II. Factor Contributing to the Growth of Rural Markets Post liberalisation especially after rapid expansion in IT, telecom, infrastructure, retail and BFSI segments, both urban and rural areas have witnessed a rapid transformation in terms of changing needs and aspirations of consumers. Though, rural buyers have relatively lesser disposable income as compared to their urban counterparts yet their demand for urban like products is growing because of A. Rise in Income due to v Crop diversification and increase in commodity prices. v Contract farming. v Remittances from abroad or migrant urban kin. v Government employment generating schemes such as MNREGA. v Microfinance and rural credit. v Waiver of loans to the farmers. v Encouragement to cottage and micro industries. v Subsides on agro inputs such as seeds and fertilisers. v Marketing assistance through organised retail, contract farming, rural cooperatives. v Sale of land for infrastructure projects. B. Growing aspiration because of v Media, literacy, migration and so on v Affordability in some products and services v Urbanisation and expansion of cities bringing them closer to villages. C. Improvement in Infrastructure and Rural Connectivity v Several schemes have been launched in the last couple of years related to rural housing, roads, communication, education, drinking water, rural electrification etc., v All these have considerably improved the living condition and have led to increase in the demand and consumption.

III. Constraints and challenges in the growth of rural markets Now, the challenge is to tap the potential. Clearly extending the off the shelf products and services to rural market would be mostly pointless. Not only are average incomes lower, income is lumpy linked to agri cycles. Lower incomes mean less experimentation by consumers and use of product for more than one benefit. Also, irregular incomes compels marketers to devise new strategies but also to overcome the following challenges in order to survive in this vast rural market : v v v v v v v v v Cultural diversity, language and social norms. Large number of low population density villages. Inadequate storage space. Lack of availability of after sales service network. Fake and look alike products. Remote and difficult terrains especially in hilly, tribal and desert areas. Inhibition to try new products. Lack of proper knowledge or awareness about certain products and services. Highly technical products making them difficult to operate or comprehend.

IV. Recommended Strategies for Rural Market Growth Considering the limitation of infrastructure facilities in the rural markets, there is a vast scope for products that are specially developed according to rural needs and wants. It is important that rural markets develop their own rural marketing mix, apart from customising the marketing strategies according to the rural requirements. Companies should also contribute towards enhancing rural income in order to increase demand and consumption among rural population. The strategic growth drivers for rural markets are represented through a MIRC model explained as follows : i. M-Microfinance : Due to low presence of public sector and private sector banks in rural areas, the microfinance firms and SHGs have immense scope for generating self employment and income growth by providing credits on low interest rates. ii. I-Information Technology : With availability of electricity and internet in some of the rural areas, it is slowly becoming an important source of information for the farmers and traders for conducting business effectively and profitably. iii. R-Retail : Organised retailers are processing farm produce and selling agricultural and consumer products at the same outlet. They also provide employment to the locals at their retail stores. iv. C-Communication : Mobile Communication or M-Commerce is extremely useful in rural areas as it helps farmers, fishermen or traders in getting updates on weather, commodity rates, market conditions and so on. V. Conclusion The consumption in rural market is expected to grow in the coming years as nearly all companies from diverse industries are adopting a go-rural for survival mission. Nevertheless, Indias rural market now contributes a vital chunk to the countrys automobile and consumer durable sales. Moreover, recent trends suggest that there has been a broadening of spectrum of products and services offered in rural areas and also competition. The emerging economy within Indian Economy in India is best risk-buster and growth guarantee. Companies need to respect the rural Indian Consumer and deliver suitably designed products and invest in rural market development.

EMERGING TRENDS IN MODERN RETAIL MARKETING BEENA T, Asst Professor, St. Thomas College of Arts & Science, Chennai-600107 Introduction India has witnessed a frenetic pace of retail development over the past five years. Goldman Sachs has estimated that the Indian Economic growth could actually exceed that of China by 2015. It is believed that the Country has potential to deliver the faster growth over the next 50 years. As we all know that India has been a nation of Dukandars, having approximately 12 million retailers. Obviously retailing is in our blood either as a shopkeeper or as a shopper. Retail which contributes 10% of our GDP is the largest source of employment after agriculture. In the year 2004, ratio of organized-Unorganized retail was 3:97 which is expected to be10:90 by 2013. There is increased sophistication in the shopping pattern of customers, which has resulted to the emergence of big retail chains in most metros, mini metros and towns being the next target. Customer taste and preferences are changing leading to radical transformation in lifestyles and spending patterns which in turn is giving rise to new business opportunities. The generic growth is likely to be driven by changing lifestyles and by strong surge in income, which in turn will be supported by favorable demographic patterns. Development of mega malls in India is adding new dimensions to the booming retail sector. There is significant development in retail landscape not only in the metros but also in the smaller cities. Even ITC went one step ahead to revolutionize rural retail by developing Choupal Sagar; a rural mall, for the Rural India. On one hand there are groups of visionary corporate working constantly to improve upon urban shopping experience and on the other hand some companies are trying to infuse innovative retail experience into the rural set up. Given the situation we can say that Indian Retailing is at boom. In this competitive scenario, proper marketing strategies will hold the key. Indian retailers are also focusing upon different retail strategies i.e. pricing , promotion, image improvement, competitive and retention strategies for enhancing the sale of their retalil outlets. Objective of the paper 1.This paper gives a detailed picture on Indian retail formats and the factors affecting on it. 2.It through light on emerging trends in modern retail marketing formats. Factors affecting modern retail formats In India there is a need to go in for a study to identify the attributes of modern retail formats that attract the consumers to shop from the formats like malls, speciality store, hypermarket/supermarket, discount stores and convenience stores. The factors affecting modern retail formats are shown below.

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Emerging Trends in Modern Retail Formats: It is difficult to fit a successful international format directly and expect a similar performance in India. The lessons from multinationals expanding to new geographies also point to this. For example, Wall- Mart is highly successful in USA but the story is different in Asian countries like China. Therefore, it is important for a retailer to look at local conditions and insights into the local buying behavior before shaping the format choice. Considering the diversity in terms of taste and preferences prevailing in India, the retailers may go for experimentation to identify the winning format suited to different geographies and segments. For example, the taste in south is different from that in north and this brings challenges to the retailers.The available research findings on retail indicate the following trends in Modern Retail formats: 1) Trial & Error: Now a number of retailers are in a mode of experimentation and trying several formats which are essentially the representation of retailing concepts to fit into the consumer mind space. Apart from geography even rural and urban divide poses different kind of challenge to the retailer. Pantaloon Retail India is experimenting with several retail formats to cater to a wide segment of consumers in the market. Some of the new formats are Fashion Station (popular fashion), Blue Sky (fashion accessories), ALL (fashion apparel for plus-size individuals), Collection i (home furnishings), Depot (books & music) and EZone (Consumer electronics). 2) Emergence of Wholesale Clubs: Since retailers are trying to segment the market with the help of formats, they developed another new format in the form of Wholesale Club to sell a segment of consumers, who purchase on bulk and look out for substantial discounts and offers. 3) Increasing Acceptance of Rural Markets: Mall-mania is phenomenal in India and is spreading fast and entering even the second tier cities in India. Real estate developers are jumping very fast to take this further from Metro cities to smaller cities and corporate houses like ITC and Sriram group are making steady progress to make this phenomena feasible in rural markets as well. 4) Govt. is also promoting the Development of Modern Retail Formats: Large format malls are increasingly getting prominence with adequate retail space allocated to leisure and entertainment. Some states like Punjab have lifted entertainment tax on multiplexes till 2009. This boosted the confidence of the mall developers to accommodate entertainment players like PVR, Waves, Adlab and Fun Republic in large malls. 5) Efficient Buying: Increasing Importance of Supermarkets & Discount Stores: Such a format provides the greatest selection of any general merchandize and very often serves as the anchor store in shopping mall or shopping centre. In India, the number of department stores is less as compared to other retail formats such as supermarkets and discount stores. 6) Hypermarkets: The Biggest Crowd Puller: Hypermarkets have emerged as the biggest crowd pullers due to the fact that regular repeat purchases are a norm at such outlets. Hypermarkets not only offer consumers the most extensive merchandise mix and brand choices under one roof, but also create superior value for money. With product categories on offer ranging from fresh produce and FMCG products to electronics, value apparels, house ware, do it yourself (DIY) and outdoor products, the hypermarkets are emerging as one of the popular formats in India..

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The below mentioned table through lights on a comparative study of major in-store retailing formats in India. Major Formats of In-Store Retailing : Format Description Branded Stores Specialty Stores Department Stores Exclusive showrooms either owned or franchised out by a manufacturer. Focus on a specific consumer need, carry most of the brands available

The Value Proposition Complete range available for a given brand, certified product quality Greater choice to the consumer, comparison between brands is possible

Large stores having a wide variety of products, organized into different departments such as One stop shop catering to clothing, house wares, furniture, appliances, varied/ consumer needs. toys, etc. One stop shop catering to Supermarkets Extremely large self-service retail outlets varied consumer needs Stores offering discounts on the retail price Discount through selling high volumes and reaping Low Prices Stores economies of scale Larger than a supermarket, sometimes with a Low prices, vast choice Hyper- mart warehouse appearance, generally located in available including services quieter parts of the city such as cafeterias. Convenience Small self-service formats located in crowded Convenient location and stores urban areas. extended operating hours. Shopping An enclosure having different formats of inVariety of shops available Malls store retailers, all under one roof. to each other. CONCLUSION Understanding the changing consumer behavior towards shopping and the significance of retailers strategies are important to know the emerging trends in modern retail formats. This paper indicate the fact that there is a significant relationship between modern retail formats, its attributes, changing preferences of consumers across these retail formats and the marketing strategies followed by the retailers for effectiveness and enhancing the sales of the retail outlet. It emphasis that young consumers and high tax payers, prefer malls and speciality stores more for shopping purposes. On the other hand, older consumers and no tax payers have different preferences for shopping from the modern retail formats as they prefer convenience stores, discount stores and department stores. The trend towards modern retail formats are changing and consumer prefer modern retail formats due to its significant product attributes like improved quality and variety of brands and store attributes which enhance the shopping experience of consumers like good parking facility and trained sales personnel. This study support that the marketing strategies of retailers are very important tool for improving the value of retail business and enhancing the sales of retail outlet. Strategies of retailers like retention strategies, promotional strategies, image improvement strategies, pricing strategies and competitive strategies are directly contributing to the growth of modern retail formats in India.

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REFERENCES Retail marketing by Suja R Nair Marketing management by Philio Kotler Marketing management by C.B. Gupta and Dr.N Rajan Nair www.indianretailer.com www.researchmarkets .com ELECTRONIC RETAILING Dr.N.RAJENDHIRAN, Prof-Cum-Director, PRIMS M.ARIVALAGAN, Ph.D, Research Scholar, PRIMS, Periyar University, Salem-11 ABSTRACT This paper includes study of modern retailing concept which helps customer as well as shopkeeper or companies to buy or sell products at lowest price, with in time. Now everyone wants to save their time and to fulfill their wish E-Retailing comes in the reality. With the help of E-retailing anyone can buy anything from a pen to car with in a second. In this paper I try to find out that whether this service is helpful to the customer or will increase problems to the customers. In this paper starting I have given little intro of retailing in India and the formats of retail in India like MALLS, HYPER MARKET, Convenience store etc. Eretailing working has been also shown in this paper how the e-retailing is beneficial to the customers and securities concern on E-retailing .I have given the advantages of E-retailing and how this modern world is getting changed or rather say getting more and more from the usage of internet. Key words: Retailing in India, E-Retailing ABOUT RETAIL The word retail is derived from the French word retailer, which means is to cut off apiece or to break bulk. A retailer may be defined as a dealer or trader who repeatedly sells goods in small quantities. The sale of goods or commodities in small quantities directly to consumers. Of, relating to, or engaged in the sale of goods or commodities at retail. It also means to sell in small quantities directly to consumers. TYPES OF RETAIL SECTOR Retailing is one of the pillars of the economy in India and accounts for 35% of GDP. The retail industry is divided into organized and unorganized sectors. Over 12 million outlets operate in the country and only 4% of them being larger than 500 sqft (46 m2) in size. ORGANIZED RETAIL : Organized retailing refers to trading activities undertaken by licensed retailers, that is, those who are registered for sales tax, income tax, etc. These include the corporate backed hypermarkets and retail chains, and also the privately owned large retail businesses. Organized retail segment has been growing at a blistering pace, exceeding all previous estimates. According to a study by Deloitte Haskins and Sells, organized retail has increased its share from 5 per cent of total retail sales in 2006 to 8 per cent in 2007. The fastest growing segments have been the wholesale cash and carry stores (150 per cent) followed by supermarkets (100 per cent) and hypermarkets (75-80 per cent). Further, it estimates the organized segment to account for 25 per cent of the total sales by 2011.

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DISCOUNT STORES: As the name suggests, discount stores or factory outlets, offer discounts on the MRP through selling in bulk reaching economies of scale or excess stock left over at the season. The product category can range from a variety of perishable/ non perishable goods. DEPARTMENTAL STORES: Departmental Stores are expected to take over the apparel business from exclusive brand showrooms. Among these, the biggest success is K Raheja's Shoppers Stop, which started in Mumbai and now has several large stores (over 30,000 sq. ft) across India and even has its own in store brand for clothes called Stop. HYPER MARTS/SUPERMARKETS: Large self service outlets, catering to varied shopper needs are termed as Supermarkets. These are located in or near residential high streets. These stores today contribute to 30% of all food & grocery organized retail sales. Super Markets can further be classified in to mini supermarkets typically 1,000 sqft to 2,000 sqft and large supermarkets ranging from of 3,500 sqft to 5,000 sq ft. having a strong focus on food & grocery and personal sales CONVENIENCE STORES : These are relatively small stores 400-2,000 sq. feet located near residential areas. They stock a limited range of high-turnover convenience products and are usually open for extended periods during the day, seven days a week. Prices are slightly higher due to the convenience premium. MBO is: Multi Brand outlets, also known as Category Killers, offer several brands across a single product category. These usually do well in busy market places and Metros. E-RETAILING: E-retailing began to work for some major corporations and smaller entrepreneurs as early as 1997 when Dell Computer reported multimillion dollar orders taken at its Web site. The success of Amazon.com hastened the arrival of Barnes and Noble's e-tail site. Concerns about secure order-taking receded. 1997 was also the year in which Auto-by-Tel reported that they had sold their millionth car over the Web, and Commerce Net/Nielsen Media reported that 10 million people had made purchases on the Web. E-retailing uses internet as a medium for customers to shop for the goods or services. It can be either pure-plays or bricks-and-clicks. Pure-play uses internet as primary means of retailing while bricks-andclicks uses the internet as an addition to the physical store. Now a day retailers have started offering almost everything under the sun on internet. From products like groceries to services like online gaming and jobs, e-retailing covers all frontiers. Unfortunately, India has lagged in e-retail growth story due to low density of internet connections, lower penetration of credit cards and customer anxiety in using new technologies. During the dotcom boom Ecommerce was the sunrise industry, the one that would change the face of the world. While Ebay and Amazon the twin pillars of Ecommerce in US did bring about paradigm shift in USA, the tech pundits in India are still a bit iffy about Ecommerce in India. Today the Internet might be viewed as a huge market potentially capable of covering the population of the whole world. This is why electronic commerce or E-Commerce is so attractive for many traditional businesses. E-Commerce consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown dramatically since the large introduction of the Internet.

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ADVANTAGES OF E-RETAILING 1. The electronic channel gives the existing brick-store retailers an opportunity to reach new markets. 2. For the existing retailers, it is an extension to leverage their skills and grow revenues and profits without creating an altogether new business. 3. E-Retailing overcomes some limitations of the traditional formats, for instance the customers can shop from the comfort of their homes. 4. The e-commerce software that also traces the customers activities on the Net enables e-retailers to gain valuable insights into their customers shopping behavior. 5. The e-retail channels transcend all barriers of time and space. The retailers server must be on 24*7. An order can come from any customer living any place at any time of the day. 6. E-Commerce channels are definitely efficient and retailers do not have to pay a heavy price for brick-n-mortar shops in costly shopping malls. CHALLENGES OF E-RETAILING 1. Unproven Business Models In the formative years of dot-com era, most of the businesses on the Net were experiments in new areas and did not provide enduring sources of profit. This was the primary reason behind closing down of 90 per cent of the purely e-commerce companies in the beginning of this century. Today, dot-com businesses have matured a little. Still some of the businesses are at experimental level and do not guarantee regular revenue. 2. Requirement to Change Business Process The process of procurement, storage and logistics in e-businesses is different from that in traditional brick-store businesses. The e-retail organization has to carefully redesign and integrate various processes to suit the new e-business. Traditional sections of departments and management hierarchy may pose hindrances and bottlenecks in the process of order processing and shipments, for example, the traditional business may require the goods to be present at the warehouse and inspected before being shipped to the customer, but in electronic retailing, shipping of goods from one place to another to a customer would not be possible. The retailer may appoint a local supplier at the city where the customer resides and instruct the supplier to deliver the goods. This would require by passing certain business rules and a lot of faith on the local supplier. It would require business confidence that the supplier would follow the instructions and deliver the same product in good quantity and perfect quality. Merchandise planning and demand analysis is also difficult in eretailing, as compared to traditional retail businesses. 3. Channel Conflicts Companies selling through the Internet as well as through brick stores may find their interest conflicting at many places. In electronic storefront orders, the goods directly reach the endconsumer and so the distributors and sellers may feel the threat to their existence. Most of the time, it is seen that retailers tend to reduce price over the Net. The sale at the brick store may store may drop because the retailer may tend to sell more through the Internet as a result of reduction of prices.

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4. Legal Issues Proper laws have not yet evolved for Internet based transactions. Validity of e-mails, digital signatures and application of copyright laws is being checked by various government authorities. E-mail and digital signatures are now being recognized as valid for any legal purpose. Value Added Tax (VAT) is yet another area that creates problems. Taxes on goods and services are still an issue. Since the taxes are levied and shared by multiple government agencies at local, state or federal level, there are no clear rules to guide retailers on that. In e-retailing, the place of billing, the place of dispatch of goods and the place of delivery all differ. If these three places fall in different jurisdictions of governments, levy and submission of taxes would be a problem. 5. Security and Privacy Security is one of the major challenges in the digital world. Despite a lot of security arrangements, such as passwords and firewalls, we come across the news of website hacking and data pilferages. The Internet being on public domain is more susceptible to unauthorized peeping. People are wary of divulging information regarding their credit cards and personal details on the Net because they can be misused. Cyber criminals have exploited the Internet weaknesses and have broken into computer systems, retrieving passwords and banking information. Security of payment gateway is a major concern, which has to be taken care of by the retailer by putting up proper security layers. Problems in E-Retailing: Legacy technology No dynamic Web pages Security and privacy Structure and data Problems with transactions Design CONCLUSION: Now a days fashion of e-retailing is increasing day by day, youth are the movers who want to try these facilities and in metro cities online buying is increasing very rapidly. Now they use online banking facility, book their movie ticket, railway ticket, recharge their mobile online. But in two tier cities online facilities are not popular. They still buy railway ticket, movie ticket with the help of broker or personally standing in a queue. One reason is that they do not believe on these facilities due to some cases of leak of personal data and second one is penetration of internet user is very low in two tier cities. Consumer is preferences are changing rapidity and becoming highly diversified. It is difficult for the retail stores to satisfy all the needs of the customers. The most of the consumer is want to get some attractive prices, good schemes and offers one very purchases and a shopping comfort as well. In India online shopping is still not a preferred way of shopping because customers are facing some problem regarding fraud, privacy, hidden charges, on time delivery etc. Companies need to find out that what type of problem customer are facing while using online shopping facility and try to salve there problem so that customer will find it easy in comparison to other way of shopping.

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RURAL MARKETING IN INDIAEMERGING TRENDS AND CHALLENGES K.KALARANI, Asst.Professor., J.H.A.Agarsen College, Madhavaram, Chennai-60 ABSTRACT Fast pace of technology advanced every sphere of social, economic, political, cultural life, produce, reduce costs, distribute, and expect higher profits. The current marketing environment and economic scenario have brought the corporate under contemporary roofs of modern India, which is challenging the current standards of segmenting, targeting and reaching the customers. Realistically, India as a nation has come a long way from the place where only urban population which constitutes 20 percent of customer base for companies are responsible for 80 percent of their profits. The companies are looking for new opportunities and avenues, as they are witnessing a decline in their growth rates in urban markets due to market saturation and they do have a huge, untouched and untapped rural Indian market. This paper tries to explore the challenges in rural marketing and the strategies that a marketer can incorporate while approaching the rural consumer. INTRODUCTION 742 million Indians constituting 138 million households reside in 6,38,365 villages (Census, 2001). The size of rural market itself speaks of its potential. The current marketing environment and economic scenario have brought the corporate under contemporary roofs of modern India, which is challenging the current standards of segmenting, targeting and reaching the customers. Realistically, India as a nation has come a long way from the place where only urban population which constitutes 20 per cent of customer base for companies are responsible for 80 per cent of their profits. The companies are looking for new opportunities and avenues, as they are witnessing a decline in their growth rates in urban markets due to market saturation and they do have a huge, untouched and untapped rural Indian market. The driving force for this is rural youth who are educated, have access to technology and have openness to change. Also rural markets have acquired significance, as the overall growth of economy has resulted into substantial increase in the purchasing power of the rural communities. A survey by India's premier economic research entity, National Council for Applied Economic Research (NCAER) indicates that rise in rural incomes is keeping pace with the rise in urban incomes. The rural middle class is growing at 12 per cent, close to the urban middle class which is growing at 13 per cent. Punjab, Kerala, Haryana, Rajasthan, Gujarat, Andhra Pradesh and Maharashtra are considered highly prosperous states. RURAL CONSUMER BEHAVIOUR Rural consumer buys products more often. He buys small packed, low unit price, more important than economy. In rural India, brands rarely fight with each other; they just have to be present at the right place. Many brands are building strong rural base without much advertising support. The rural customer has a fairly simple thinking as compared to the urban counterpart. With low disposable incomes, products need to be affordable to the rural consumer, most of whom are on daily wages. Data on rural consumer buying behaviour indicates that the rural retailer influences 35% of purchase occasions. Therefore, sheer product availability can determine brand choice, volume and market share. The rural consumer is more of price oriented and also has high level of patronage motive. Some of the myths associated with rural consumers are as follows.

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Brand awareness Rural consumers buy lower priced goods Rural consumers will buy what we sell to them Rural India has common tastes Innovative uses of the product

EMERGING TRENDS IN RURAL MARKETS ONLINE RURAL MARKET (INTERNET, NICNET): Rural people can use the two-way communication through on line service for crop information, purchases of Agri-inputs, consumer durable and sale of rural produce online at reasonable price. Farm information online marketing easily accessible in rural areas because of spread of telecommunication facilities all over India. Agricultural information can get through the Internet if each village has small information office. INFORMATION THROUGH LOCAL AGRICULTURE INPUT DEALERS Most of the dealers have direct touch with the local farmers; these farmers need awareness about pests, decease, fertilizers, seeds, technology and recent developments. For this information, farmers mostly depend on local dealers. For development of rural farmers the government may consider effective channel and keep information at dealers, for farmer education hang notice board and also train the dealer recent changes and developments in agriculture. National Chain Stores: large number of stores set up in different rural areas throughout the country by the same organization for marketing its products. Thus national chain stores can serve large number of customers in rural area. COST BENEFIT ANALYSIS Cost benefit can be achieved through development of information technology at the doorsteps of villagers; most of the rural farmers need price information of agri-produce and inputs. If the information is available farmers can take quick decision where to sell their produce, if the price matches with local market farmer no need to go near by the city and waste of money & time it means farmers can enrich their financial strength. NEED BASED PRODUCTION Supply plays major role in price of the rural produce, most of the farmers grow crops in particular seasons not through out the year, it causes oversupply in the market and drastic price cut in the agricultural produce. Now the information technology has been improving if the rural people enable to access the rural communication, farmers awareness can be created about crops and forecasting of future demand, market taste. Farmers can equates their produce to demand and supply, they can create farmers driven market rather than supply driven market. If the need based production system developed not only prices but also storage cost can be saved. It is possible now a days the concept of global village. MARKET DRIVEN EXTENSION Agricultural extension is continuously going through renewal process where the focus includes a whole range of dimensions varying from institutional arrangements, privatization, decentralization, partnership, efficiency and participation. The most important change that influences the extension system is market forces. There is a need for the present extension system to think of the market driven approach, which would cater the demands of farmers. PROCESSING INDUSTRY India is the second largest producer of fruits and vegetables in the world with an annual production of more than 110 million tones of fruit and vegetable only 1.3 percent of the output is processed by the organized sector commercially, the reason higher consumption in

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fresh form. However, as the packaging, transportation and processing capacities increase, the market for processed fruits and vegetables is projected to grow at the rate of about 20 % per annum. 100 % export oriented units (EOU) and Joint venture units required improving the processing industry. APANAMANDI / KISAN MANDI / RYTHUBAZAAR There is a need to promote direct agricultural marketing model through retail outlets of farmer's co-operatives in urban areas. The direct link between producers and consumers would work in two ways: one, by enabling farmers to take advantage of the high price and secondly, by putting downward pressure on the retail prices. RURAL AGRI- EXPORT Rural produce, raw fruits and vegetable, processing goods, have the potential market in Asian, Europe and western countries. Particularly soudhy countries have commendable potential for Indian rural produce. PROBLEMS RELATED TO RURAL MARKETING The rural market offers a vast untapped potential; it should also be recognized that it is not that easy to operate in rural market because of several problems. Rural marketing is thus a time consuming affair and requires considerable investments in terms of evolving appropriate strategies with a view to tackle the problems. The problems are. BARTER SYSTEM In the developing country like India, even today the barter system i.e., exchange of goods for goods exists. This is a major obstacle in the way of development of rural marketing. UNDERDEVELOPED PEOPLE AND UNDERDEVELOPED MARKETS The agricultural technology has tried to develop the people and market in rural areas. Unfortunately, the impact of the technology is not felt uniformly through out the country. Some districts in Punjab, Hariyana or Western Uttarpradesh where rural consumer is somewhat comparable to his urban counterpart, there are large areas and groups of people who have remained beyond the technological breakthrough. In addition, the farmers with small agricultural land holdings have also been unable to take advantage of the new technology. LACK OF PROPER PHYSICAL COMMUNICATION FACILITIES Nearly 50 percent of the villages in the country do not have all weather roads. Physical communication to these villages is highly expensive. Even today, most villages in eastern part of the country are inaccessible during monsoon season. INADEQUATE MEDIA COVERAGE FOR RURAL COMMUNICATION A large number of rural families in own radios and television sets there were also community radio and T.V sets. These have been used to diffuse agricultural technology to rural areas. However the coverage relating to marketing is inadequate MANY LANGUAGE AND DIALECTS The number of languages and dialects vary from state to state region to region. This type of distribution of population warrants appropriate strategies to decide the extent of coverage of rural market. MARKET ORGANIZATION & STAFF: The size of the market organization and staff is very important, to manage market system effective control. However the existing organizational setup particularly at district and block

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level needs to be strengthened in order make the services on various aspects available to the farmers timely and also easily accessible to them. OTHER INFLUENCING FACTORS IN RURAL MARKETING Natural calamities and Market conditions (demand, supply and price). Pests and diseases, Drought or too much rains, Primitive methods of cultivation, lack of proper storage facilities which exposes grain to rain and rats, Grading, Transport, Market Intelligence (up to date market prices to villagers), Long chain of middlemen (Large no. of intermediaries between cultivator and consumer, wholesalers and retailers, Fundamental practices (Market Dealers and Commission Agents get good part of sale of receipts). CONCLUSION Two-thirds of the country's one billion consumers live in rural India, where almost half of the national income is generated. Higher rural incomes have meant larger markets. MNCs have built roads in rural India that help them deliver their goods, provided education and health care for communities whose workforces they rely upon, and implemented environmental programs to protect precious natural resources needed to keep supply chains to run smoothly. After analyzing the rural-urban divide, we can say that the rural markets are becoming more and more lucrative for the marketers, because of growing demand in rural sector. REFERENCES V.A. PaiPanandiker& P.K.J. Menon, Rural Industrialisation, Oxford & IBH PublishingCo.(P)Ltd.,NewDelhi,1986. Dr. T.P. Gopalaswamy, Rural Marketing, Wheeler Publishing, First reprint, Delhi, 1999. Philip Kotler& Gary Armstrong, Principles of Marketing ,Eithth Edition, Prentice Hall of India, 1999. Ramkshen Y, Rural and Agricultural marketing, JAICO publishing house, Second Edition. K.S. Chandrasekar, Marketing Management Text and Cases, Tata McGraw Hill, 2010 Balu, R. (2001). Strategic innovation: Hindustan Lever. Fast Company, 120 Dawar, N. &Chattopadhyay, A. (2002).Rethinking marketing programs for emerging markets.Long Range Planning, 35, 457 www.icmrindia.org.

WRAP ADVERTISING: ADVERTISINGS NEW FACE P. PRIALATHA, Doctoral Scholar, Bharathiar School of Management & Entrepreneur Development, Bharathiar University, Coimbatore 641046 Dr. K. MALARMATHI, Associate Professor, Bharathiar School of Management & Entrepreneur Development, Bharathiar University, Coimbatore 641046. Abstract: The advertising world is continuously innovating and evolving- be it in terms of advertisement appeals or the media vehicles, in order to generate awareness and preference among the target audience for the ever exploding range of products and services. And the latest buzz is about the Wrap Advertising, which is a really cool advertising medium. The

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wrap advertising fever is slowly catching up and is spreading across countries. It involves wrapping up a vehicle say- bus, train, truck or even a car, either partially or fully in an advertisement. In 1993, Super Graphics wrapped a bus in computer-generated vinyl with the Crystal Pepsi advertisement, which became the first rolling advertising in this form. Most advertising is consensual, i.e., the TV channel can be changed, the radio be turned off and the print ads flipped to another page. But out of home advertising can't be avoided and especially the Wrap advertising. Ironically, it also happens to be the most cost effective way to reach an audience in terms of cost per thousand. Wraps are a low-cost alternative with a high value. Vehicle wraps have become red hot for business promotion, and the chief reasons according to industry experts are affordability and effectiveness. The process of printing and wrapping has become easier and cheaper, vinyls and technology have greatly improved, and the attractive graphic designs are a distinctive, captivating way to effectively advertise and promote a business. According to the Transportation Advertising Council, vehicular advertising generates between 30,000 and 70,000 daily vehicular impressions. Though this new media of advertising is effective, there are some issues connected with wrap advertising namely- reduction of visibility to the driver, difficulty in advertisement interpretation, etc. Further the paper also intends to discuss about the training and benefits experienced by the vehicle owner (in case of cars especially) from wrapping up their vehicles. After considering the plus side of this new trend, it can be concluded that the day wont be far, when one can see almost every tenth vehicle on city roads being wrapped up in an advertisement. Key Words: Wrap Advertising, reach and efficiency. Introduction: Wrap Advertising The advertising world is continuously innovating and evolving- be it in terms of advertisement appeals or the media vehicles, in order to generate awareness and preference among the target audience for the ever exploding range of products and services. And the latest buzz is about the Wrap Advertising, which is a really cool advertising medium. The wrap advertising fever is slowly catching up and is spreading across countries. It involves wrapping up a vehicle say- bus, train, truck or even a car, either partially or fully in an advertisement. Wrap advertising can be achieved by painting onto a vehicle's outer surface, but an increasingly ubiquitous practice in the 21st century involves the use of large vinyl sheets as "decals." The vinyl sheets can be removed with relative ease, drastically reducing the costs associated with changing advertisements. While vehicles with large, flat surfaces, such as buses and light-rail carriages, are often utilized due to ease, smaller cars consisting of curved surfaces can also serve as hosts for wrap advertising. The history of Wrap Advertising dates back to 1993 when Super Graphics wrapped a bus in computer-generated vinyl with the Crystal Pepsi advertisement, which became the first rolling advertising in this form. Then there's Amtrak, a coach car on San Diego train #773 was wrapped for Holiday Inn Hotels. However, this form of advertising is relatively expensive. Smaller companies couldn't take part in this ad medium so easily and those that can afford it have to wait. The bus and train supply is limited when you get right down to it. Thus in order to reach the target market, and satisfy the supply and demand, wrapping car was considered as a cost-effective alternative to buses and trains. Initially, it was Volkswagen Beetles that became colorfully wrapped. Now it's old cars, new cars, SUVs and minivans.

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Types of Wraps: There are two types of wrap advertising, namelyv Full Wraps: Generate maximum impact with tremendous results. With a Full Wrap, the vehicle will demand attention in any situation. It doesn't matter what angle it is viewed from, the public eye will always be drawn to it.

v Partial Wraps: This option is ideal for companies with set budget considerations and is also a fantastic cost effective solution for that extra visual punch in fleet advertising. Effectiveness of Wrap Advertising: Most advertising is consensual, i.e., the TV channel can be changed, the radio be turned off and the print ads flipped to another page. But out of home advertising can't be avoided and especially the Wrap advertising. Ironically, it also happens to be the most cost effective way to reach an audience in terms of cost per thousand. Wraps are a low-cost alternative with a high value. They're only two to five dollars per thousand impressions. Vehicle wraps have become red hot for business promotion, and the chief reasons according to industry experts are affordability and effectiveness. The process of printing and wrapping has become easier and cheaper, vinyls and technology have greatly improved, and the attractive graphic designs are a distinctive, captivating way to effectively advertise and promote a business. According to the Transportation Advertising Council, vehicular advertising generates between 30,000 and 70,000 daily vehicular impressions. A study by Arbitron, Inc., an international media and marketing research firm, shows that mobile advertising reaches virtually all demographics in America and one of the best places to target higher income consumers is while they are on the road. Driving Revenues, a Washington D.C. based advertising firm found that $20,000 advertising spend produces the following ad impressions by type of advertising placement: Mobile advertising garners 8.4 million impressions in a 12 month period Radio attracts 900,000 listeners in 6 weeks with 10 to 12 30-second spots Direct mail campaigns reach 20,000 names with one post card mailer 7 city buses get 600,000 impressions in 2 months Traditional billboard advertising ranges from about $600 to $2400 a month. Compare this to a company van "fully-wrapped" price of about $3500 -- with a high-quality wrap that can last up to five years -- and it's easy to see how cost-effective vehicle wraps can be. And a wrap typically generates about 8 million impressions in a year. Multiply this by five years and no other advertising medium comes close to the low cost per viewing. The cost effectiveness can be explained by comparing the advertising costs for 1000 impressions-

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Further, the retention rate of this medium is extremely high. According to Cox Communications/Eagle Research: 48% of those polled viewed car wraps as the most unique advertising medium available, and 47% of 18-34 year olds surveyed found car wraps especially memorable. The reasons are: They are eye catching, big and colorful, and wraps are not like radio, print or TV; which can be turned off or changed. The targeting of this advertising medium is unsurpassed as the wrapped vehicles are being driven directly into the target market, thus increasing the advertising effectiveness. Many of the companies opting for wrap advertisements also have advantage of exposure in areas that traditionally cost huge money: Conventions, Trade Shows, and Grand Openings. Moreover, it is necessary to get on a list well in advance to advertise at a premier event or location. While the company can drive its wrap advertising right through the event venue or park in front of it, any time. Issues concerned with Wrap Advertising: i. A primary issue associated with wrap advertising is the reduction of visibility in terms of the interpretation of the advertisement. This particular concern has been addressed by the various perforation sizes used in the manufacture of perforated vinyl filmlarger perforation sizes increase visibility and a 70/30 pattern allows for 20% more picture. ii. Driver visibility is also a concern for vehicle wraps, and vehicle windshields and side windows should never be covered. The legality of wrap advertising also requires attention. iii. The vinyl may wrinkle or separate from the glass on curved windows because the polyester laminates are designed for flat windows. Washing windows with solvent glass cleaner (e.g. with Windex) prior to application is not recommended. Windex or other similar window cleaning agents contain silicone and leave behind a residue similar to wax and vinyl adhesives will not stick to wax. Solvent can affect the adhesive on perforated vinyl film causing it to not adhere properly to the glass. This can cause distortion in the image.

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Conclusion: The world is changing. This change is more attributed to the way marketing activities, business practices and strategies are changing across the globe. All businesses are looking for ways to maximize the value for the money they spend in all areas: be it technology, personnel, professional services, or advertising. Most budgets are limited, so getting the most back for the buck is extremely important. Vehicle Wraps are a fast growing trend in advertising today, and we are seeing this directly in New Zealand with a 15% increase in the use of cast (vehicle) films over the last two years. This is quite significant considering the state of the economy during this time. Thus it can be concluded that the day wont be far, when one can see almost every tenth vehicle on city roads being wrapped up in an advertisement. Reference: http://signword.wordpress.com/2011/05/11/vehicle-wraps-vs-other-forms-of-advertising/ http://www.indianmba.com/Faculty_Column/FC1398/fc1398.html http://www.signstudiosandiego.com/vehicle-graphics-more-effective-less-expensive/ http://advertising.about.com/od/carrelatednews/a/carwraps.htm http://topwraps.com/why-vehicle-wraps/types-of-wraps.asp TOURISM MARKETING TRENDS AND ISSUES IN INDIAN TOURISM MARKETING S.PADMAPRABA, Asst.Prof, Department of Managements studies Fatima College ABSTRACT Tourism is a multifaceted product; with the advent of mass tourism its impact in various areas has become prominent .Today tourisms economic dynamic has become significant. This is because tourism is an important element of a world wide trade, it has international dimensions. The paper begins with critical analysis of the movement and development of global tourism, then, highlighting the tourism industry in India, including SWOT Analysis of Indian Tourism. Tourism development path is discussed to show the stages of its development since domestic tourism, heritage tourism, health tourism, adventure tourism till Eco tourism. In each stage, tourism impacts are considered in details. The Indian tourism marketing target markets, circumstances, actions and strategies are then analyzed in depth. Trends in Indian tourism marketing are particularly considered to illustrate the vital role of the Tourism Authority of India which is a key organization undertaking tourism marketing activities. In the last part of the paper, challenging issues of India tourism marketing are discussed such as global and regional tourism competition, tourism marketing incentives, branding and image of India, Marketing mix of Tourism, tourism product development for high yield tourists, tourism promotion through mass media and consumer behavior of the Indian for domestic tourism marketing. INTRODUCTION India Tourism Development Corporation (ITDC) came into existence in October 1966 with the objective of developing and expanding tourism infrastructure in the country and thereby promoting India as a tourist destination.

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According to the United Nations World Tourism Organization (UNWTO), global international tourism is increased its activity between 2002 and 2012. The most recent UNWTO in publications estimate total global tourist arrivals in 2011 at around 980 million, generating $ 595 billion revenue International tourism flows are expected to reach 1.5 billion by 2020 and revenue estimated to cross $ 2000 billion The earnings from tourism have made it one of the worlds largest industries and the fastest growing sectors of global trade accounting for 10.7 per cent of global gross domestic product (GDP), 12.8 per cent of global exports, 8.2 per cent of global employment (or one in every 12.2 jobs), and 9.4 per cent of global capital investment. Today, only 3.5 per cent of the world population travels internationally but the number of Asian, particularly Chinese, tourists is predicted to grow enormously as the region becomes more integrated with the global economy. The World Tourism Organization forecast indicates an increasing tourism preference towards East Asia, the Pacific, West Asia and South Asia, although Europe and America still remain the worlds foremost tourism destinations commanding 77 per cent of the global market. East Asia/Pacific achieved the highest rate of growth of 14.5 per cent in tourism and travel in 2000 followed by West Asia and South Asia TOURISM INDUSTRY IN INDIA In India , even though business operators have been moaning, seeking government intervention to boost their slacking businesses this year, industry analysts are still optimistic about the future of the countrys tourism in the long run. Analysts forecast that positive factors will continue to pave a rosy path for the tourism industry in India over the next ten years despite any interruption by short-term negative factors. With its strong foundation, the industry is believed to be resilient enough to bounce back quickly within a couple of years after any kind of industrial shock, whether it is a natural catastrophe or a political turmoil. Tourism in India is the largest service industry, with a contribution of 6.23% to the national GDP and 8.78% of the total employment in India. In 2010, total Foreign Tourist Arrivals (FTA) in India were 5.78 million and India generated about 200 billion US dollars in 2008 and that is expected to increase to US$375.5 billion by 2018 at a 9.4% annual growth rate. The majority of foreign tourists come from USA and UK. Kerala, Tamil Nadu, Delhi, Uttar Pradesh and Rajasthan are the top five states to receive inbound tourists. Domestic tourism in the same year was 740 million. Andhra Pradesh, Uttar Pradesh, Tamil Nadu and Maharashtra received the big share of these visitors. Ministry of Tourism is the nodal agency to formulate national policies and programmers for the development and promotion of tourism. In 2011, total Foreign Tourist Arrivals (FTA) in India were 6.18 million and Foreign Exchange Earnings stood at US$ 16.691 billion (Global rank-17) up 17.6% from previous year figure of US$ 14.193 billion (5.58 million FTAs in 2010). India's Foreign Exchange earnings grew by an astonishing 14.1% (CAGR) during 2001-10 out-pacing global average 7.7%. Owing to steady decade-long growth India's share in world Foreign exchange earnings has gone up from 0.64% in 2002 to about 1.72% in 2011. According to World Travel and Tourism Council, India will be a tourism hot-spot from 2009 to 2018.having the highest 10-year growth potential. The Travel & Tourism Competitiveness Report 2007 ranked tourism in India sixth in terms of price competitiveness and 39th in terms of safety and security. Despite short- and medium-term setbacks, such as shortage of hotel rooms, tourism revenues are expected to surge by 42% from 2007 to 2017.

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India's rich history and its cultural and geographical diversity make its international tourism appeal large and diverse. It presents heritage and cultural tourism along with medical, business and sports tourism. India has one of the largest and fastest growing medical tourism sectors. Andhra Pradesh, Uttar Pradesh, Tamil Nadu, Karnataka and Rajasthan are the leading tourism destinations in India in terms of total tourist arrivals. India has been promoting its healthcare tourism by providing the visitors with private healthcare facilities. It is expected that the total market for medical tourism will reach US$ 2 Billion by 2012, representing a CAGR of 60.69%. The World Travel and Tourism Council (WTTC) has predicted that there is great potential for India to be number one destination in the world due to the magnitude of growth witnessed in the sector, which is projected at 10 per cent YoY International Journal of Research in Management ISSN 2249-5908 Issue2, Vol. 1 (January-2012) Page 118 (Year on Year). Table 1.1 shows the details of Foreign Tourist Arrivals (FTAs). The real GDP growth for travel and tourism is expected to grow at an average of 7.7 per cent per annum in the coming decade. Table1.1Foreign Tourist Arrivals (FTAs) in India from 2005-2010 Years FTAs (in Millions) Percentage change YoY 2005 3.92 13.3 2006 4.45 13.5 2007 5.08 14.3 2008 5.28 4.0 2009 5.11 -3.3 2010 Jan-June) (P) 2.63 10.8@ Source: Bureau of Immigration Government of India (GoI) for 2005-2008, Ministry of Tourism, GoI for 2009 & 2010 SWOT ANALYSIS OF INDIAN TOURISM: Weaknesses Lack of sufficient infrastructure. Lack of full time tourism officer Poor secondary roads Effluent - Farm, Industrial, domestic Local authority lack of commitment to tourism No proper marketing of India's tourism abroad. Threats Competition Other countries getting stronger Economic conditions and political turmoil Terrorism Tourism industry fails to act Strong Competition within states of India and abroad

Strengths

India's geographical location culmination of deserts, forests, mountains Manpower costs is low in hotel industry Rich culture heritage and colorful festivals attract people Friendliness Hospitality Rural atmosphere Opportunities Develop Food Culture New Roads, bypasses Coordinated planning County Development Plan Eco- tourism is gaining popularity Marketing the county/Branding Growth of domestic tourism.

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Gaps Branding/Marketing Hotels 3 and 4 star Indoor facilities Themed marketing materials Networking tourism industry/agencies, local authorities Planning contribution to marketing Separate marketing authority Web site

Recommendations: Newer sources of communication like the internet must be used effectively to influence and advertise Basic infrastructural facilities have to be developed further. Roads need to be improved. Parking space must be provided Local culture and handicrafts must be promoted Basic necessities must be provided. Water availability has to be catered to. A diverse range of culinary must be provided to cater to the wants of tourists from various places Across India and the globe Celebrity endorsements could help to market tourism. More advertising in media, magazines, etc are needed Entertainment facilities must be provided in order to ensure a longer stay by the tourists and shopping facilities need a boost. ANALYSIS OF INDIAN TOURISM: A MARKETING PERSPECTIVE It is necessary for tourism industry to formulate marketing strategies which should include the overall business objectives, an assessment of the market environment; a business/community profile market identification (segmentation), the marketing objectives for each segment; the best combination of the 4 Ps (product, price, place, promotion) for each segment; an implementation plan the marketing budget and a method for evaluation and change Marketing mix for Tourism The marketing mix for any service industry is discussed as 8Ps. They are, 1. Product Elements 2. Process 3. Place and Time 4. Productivity and Quality 5. Promotion & Education 6. People 7. Price & other user costs 8. Physical Evidence

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TRENDS IN INDIAN TOURISM MARKETING Tourism trends indicate growth in tourism. Whilst the tragedies like the terrorist attacks on
th

September 11 and the demise of Ansett in the same week will and have caused a short term decline in inbound tourism. The number is still expected to increase consistently over the next 8 years. the outbound segment in India is growing rapidly and with the Indian economy booming and increasing standards of living, travel is also moving up the ladder to add an essence of luxury. While drawing up a list of the top ten luxury trends for 2011, Thomas Stanley, COO, Cox & Kings, USA declares that bucket list (term used for things one wants to do in ones lifespan) experiences will grow in popularity during the course of 2011. This trend will add a new perspective to high-end luxury travel globally with travelers opting for such extreme, unique and thrill seeking experiences. The Tourism Authority of India has set a vision for the growth of the travel and Indian tourism industry by enhancing a well-balanced, profitable and sustainable tourism industry with an attempt to continue highlight the culture and heritage of India, uphold Indian international image and standing, create jobs for Indian people and instill in them a strong sense of environmental and cultural preservation. CONCLUSION The paper has critically analyzed the movement and development of global and regional tourism particularly tourism circumstances of India. The tourism industry movement of India is discussed to show its bright future, its target markets and market share. It is possible to say here that Indian tourism has been pioneered and developed for many decades, hence, passing through many stages namely Domestic tourism which sees tourism as an economic development tool, then mass tourism which focuses on only income of tourism and numbers of the visitors. Alternative tourism has taken roles in Indian tourism industry as it has encountered environmental problems due to the lack of carrying capacity management. Post modern tourism is then taken into consideration to mitigate tourism negative impacts by stressing an importance of high quality visitors and less concern on the number of the tourists. Easily speaking, the Indian tourism industry is moving from quantity to quality, from demand-based to supply-based. This has led to changes in marketing activities of India that pays more attention to high yield visitors as well as the quality of the tourism products. However, in terms of challenging issues of Indian tourism marketing, it has found that India is facing severe competition among surrounding countries, insufficient tourism marketing incentives, vague branding and image of India, difficulties in proposing high quality tourism products for high yield tourists, ineffective tourism promotion through mass media and the misconception of consumer behavior of the Indian for domestic tourism marketing. REFERENCES Akhtar, Javaid; "Tourism Management in India", Ashish Publishing House, New Delhi, 1990. Kotler, Philip, Kotler, Kevin Lane, Marketing Management 12 e, Printice Hall of India Private Limited, New Delhi, 2007 Kotler, Philip, Donald Haider and Irving Rein; "Marketing Places", The Free Press, New York, 1993. Shankar Ravi (ed.); "Services Marketing- The Indian Experience", Manas Publications. Delhi, 1993., Stanton, Etzel and Walker; "Fundamentals of Marketing", 10th ed., McGraw Hill B

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World Tourism Organization. (2009). Tourism Highlights 2006 Edition. Madrid: World Tourism Organization. Tourism authority of India (2009) Domestic and International Marketing Strategies and Plans. http:// www.Indian tourism marketing .com http:// www trends of Indian tourism.com

EMERGING TRENDS IN MODERN RETAILING B.DHANALAKSHMI, Research Scholar, Madurai Kamaraj University, Madurai. Introduction: The retail stores are not a new born babies, they have been in existence since early 50s. In India they have been showing their presence in various forms; like Departmental Stores, Super Markets, Discount Stores, Hyper-Market, and Shopping Malls etc. Now-a-days shopping malls are the new form and also a very fast growing form of retailing. The metro cities like New Delhi, Mumbai, Bengaluru and Chennai are having trend of attracting people to the big malls. In Chennai, shopping atthese malls is a fashion. Growing IT industries increases the buying power of the people. People dont have much time to spend on buying groceries, clothes, home appliances, accessories etc., from choicest stores like agencies, dealers, distributors, or from small retailers. They are ready to afford even more to get all products under one roof. In addition, the amusement like cinema theatres, childrens rides, beauty parlors, spa, restaurants etc., invites the customers to malls. The purpose of the study is to understand the Indian retail environment that has been witnessing several changes on the demand side due to increase in per capital income, changing lifestyle and increased product availability. By doing this it can enhance the importance and challenges in the emerging retailing market. Now-a-days the retailers are using many strategies viz., own brands, daily offers, and franchise and increased use of direct marketing methods. Statement of the Problem: To woo the customer to the store, retailers are providing a wide range of products, quality, and value for money, apart from creating a memorable shopping experience. Organized retailing has made a considerable headway in products like food & groceries, clothing, books, and music. With all these challenges and developments the paper analyses the emerging trends in modern retailing. Significance of the Study: The findings of this study will help the policy makers, retailers and researcher to know about the customers attitude towards the recent trends in modern retailing. It will become additional information for further study. Objective of the Study: The objective of the study focuses on the Customers Attitude Towards The Emerging Trends In Modern Retailing. Scope of the Study: The study covers the attitude towards the emerging trend in modern retailing from the customers point of view.

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Methodology: The data collection involves both the primary and secondary data.The primary data were collected through questionnaire from 30 respondents from Chennai city and secondary data was collected through books, journals and websites. Findings: The findings of the study reveal the personal data and the general data. Personal Data: The study shows that 50% of the respondents are belonging to the age group of 30-45 years and 60% of the respondents are female and more than 55% of the respondents are professionals and specifically software engineers. General Data: The study shows that majority of the respondents visit retail shops which are closely located to them; out of them, 60% of the respondents visit the retail shops due to their necessities and 20% of the respondents visit the retail shops for special offers. 60% of the respondents are aware of tele-shopping and on-line shopping. More than 35% of the respondents who are having credit cards would like to buy goods through their credit cards only. Ho: There is a significant relationship between the occupation of the respondents and their opinion on recent trends in retailing. Table 1.1: Occupation of the respondents and their opinion on modern retailing Opinion Occupation Professional Business Govt. Employee Private Employee Positive 3 (17.6%) 0 0 1 (25%) 4 Negative 3 (17.64%) 1(50%) 1 (14.2%) 2 (50%) 7 Neutral 11 (64.7%) 1(50%) 6 (85.7%) 1 (25%) 19 TOTAL 17 2 7 4 30

The above table reveals that among the respondents with positive opinion about modern retailing, 25 percent of the respondents are private employees and 50 percent of the respondents with negative opinion are doing own business. Majority of the respondents are not able to comment of recent trends in retailing.

Pearson Chi-Square

Table Value 5.70

df 6

The table value for chi-square for the degree of freedom 6 at 5% level of significance is 12.59. The calculated value of chi-square is lesser than the table value. Hence the hypothesis is accepted.

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Ho: There is a significant relationship between the income of the respondents and their opinion on the recent trends in modern retailing. Table 1.2.Income of the respondents and their opinion on trends in modern retailing Opinion Income Level Below 15,000 15,001- 30,000 30,001- 45,000 Above 45,000 Positive 2 (28.5%) 0 2 (40%) 0 4 Negative 1 (14.3%) 2 (15.3%) 1 (20%) 2 (40%) 6 Neutral 4 (57.1%) 11 (84.6%) 2 (40%) 3 (60%) 20 TOTAL 7 13 5 5 30

The above table reveals that 40% of the respondents having positive opinion belongs to the income group Rs.30,000-40,000 and 85% of the respondents with neutral opinion are in the income group Rs.15,000-30,000. 40% of the respondents with negative opinion in above Rs.45,000 group.

Pearson Chi-Square

Table Value 8.81

df 6

The table value for chi-square for the degree of freedom 6 at 5% level of significance is 12.59. Since the calculated value of chi-square is lesser than the table value the hypothesis is accepted. In this paper the collected primary data has been analyzed to reveal relevant information about the opinion of the customers on emerging trends in modern retailing. Percentage analysis and chi-square test had been applied where ever suitable. Chi-square test shows that there is significant relationship between the occupation of the respondents and their opinion on recent trend in modern retailing and income of the respondents and their opinion on recent trend in modern retailing. Conclusion: In most families the rise in spending power is due to increasing instances of double income. The consumer demand has increased over the years, so the retailers gear up to meet this increase and evolving technology also rapidly supports this growth. The technological inventions in billing, packaging, etc. are essential for retailing. This study shows interesting information that the most of the respondents who are unmarried female and those who are working in IT industry use to buy their accessories and goods only through debit cards. They dont have much interest on using credit cards or cash. It reveals that they are not stuck up in the oldmethod of payment and at the same time they dont want to move forward to try recent advancements or new method of making payment. Demographic and buying patterns of residents of an area can be used to compare various possible sites for opening new stores. Today, software packages are helping retailers not only in their locational decisions but in decisions regarding store sizing and floor spaces as well.

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RURAL CONSUMERS AWARENESS TOWARDS BRANDED PRODUCTS IN MADURAI DISTRICT Dr.R.ALAMELU and Dr.M.NAGARENITHA, Assistant Professor, Department of Management Studies, Fatima College (Autonomous), Madurai-2 ABSTRACT: India is much admired country in growing of population it goes beyond 1.22 million, out of this near about 75 % people resides in rural areas. There is more than 600,000 villages in the country as against about 300 cities and 4600 towns. Rural consumers have become the focus of many corporate as urban market getting saturated. Information and communication technology paves way for such companies who try to enter in to the rural market. Measures taken by the Government to improve the rural people also facilitate MNCs to reach the rural market. Improved standard of living, increased literacy rate, Increased and improved transport and communication are the major forces which lead to rural marketing. The young are more willing experiment with different brands and children are becoming key decision makers in purchases. In spite of such growth in rural market, the consumers remain disadvantaged as their right to information, choice, and redress and consumer education are not sufficiently fulfilled. Consequently this study focuses on the awareness of rural consumers and their preferences towards branded products. This proposed research analyses the rural consumers choice of branded products across wide range of products and their knowledge, awareness towards it. It provides key inputs for global retailers to harness the potential in growing consumerism in India. This study covers 150 rural consumers of Madurai district. The present research pin pointed that brand image, culture, price and quality influences the consumption of branded products. It facilitates the corporate in planning strategies to create awareness and attract the rural market. INTRODUCTION Retailing includes all the activities involved in selling goods or services directly to final consumers for personal and non business use. A retailer or retail store is any business enterprise, whose sales volume comes primarily from retailing. Retail industry in India is at the crossroads it has emerged as one of the most dynamic and fast paced industries with several players entering the market. It is the latest bandwagon that has witnessed hordes of big players like TATA, Birla, Reliance, Pantaloon Group, etc., leaping into it. Liberalization of Indian Economy has brought opening for consumer goods this has helped many MNC, to serve with wide variety of choices to Indian consumers. Consumers have shifted their demands towards foreign brands like Pizza hut, Mc Donalds etc. Internet has also been a tool for this Revolution as Indian consumers are more accessible to the growing influences of domestic and foreign retail chains. Evolution of Indian Organized Retailing The development of organized retail started comparatively late in India. Single brand retail chains (such as those of Raymond's, Liberty footwear and such others) began to find a foothold in the major metros during the 1980s. Multi-brand retail chains came into the picture mainly during the1990s. Shopping centers began to come up around 1995. Shopping malls and hyper markets have begun to evolve primarily during the new millennium. Now, several large Indian business houses have made a foray into retailing, with multiple formats and in varied product categories. Multinational retailers are also trying to edge their way into the Indian market in whatsoever manner the present foreign investment norms permit. International retail chains, such as Wal-Mart, Tesco, etc., are waiting in the wings for

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Foreign Direct Investment (FDI) being allowed in multi-brand retailing. Exhibit 1 shows different phases in the growth of organized retailing in India during the new millennium. As shown in Exhibit 1, since the dawn of the new millennium, organized retail in India has shown three phases of development, while we are anticipating a fourth one:

1. First Phase: This was the starting point for the take-off of organized retailing, where the main focus areas were entry, growth and expansion strategies, with importance being accorded to top line revenue growth. 2. Second Phase: In this phase, the focus shifted to expanding the product range and geographic reach by building a wider network of outlets. 3. Third Phase: This is the current phase, projected to continue up to the year 2011. In this phase, the emphasis is on technological enhancements, supply chain management, backend operations, and technology and process improvement. This phase may be considered as the first stage of `Next-Generation Retailing.' 4. Fourth Phase: In the fourth phase, many decisive changes are anticipated. These include mergers and acquisitions, consolidations and shakeouts, involving huge investments. RECENT TREND IN RETAIL MARKET Malls The largest form of organized retailing today is located mainly in metro cities, in proximity to urban outskirts ranging from 60,000 to 700,000 sqft and above. They lend an ideal shopping experience with an amalgamation of product, service and entertainment, all under a common roof. Examples include Shoppers Stop, Pyramid, and Pantaloon. Discount Stores As the name suggests, discount stores or factory outlets, offer discounts on the MRP\ through selling in bulk reaching economies of scale or excess stock left over at the season. The product category can range from a variety of perishable/ non-perishable goods. Department Stores Large stores ranging from 20000-50000 sq. ft, catering to a variety of consumer needs. These are further classified into localized departments such as clothing, toys, home, groceries, etc. Departmental Stores are expected to take over the apparel business from exclusive brand showrooms.

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Hyper Marts/Supermarkets Large self-service outlets, catering to varied shopper needs are termed as Supermarkets. These are located in or near residential high streets. These stores today contribute to 30% of all food & grocery organized retail sales. Super Markets can further be classified in to mini supermarkets typically 1,000 sqft to 2,000 sqft and large supermarkets ranging from 500 sqft to 5,000 sq ft. having a strong focus on food & grocery and personal sales. E-tailing: Retailing on the net is known as E- tailing. Internet has changed the way we do shopping. It has brought the commerce to play a crucial role in shaping the future of Indian retailing. For shoppers and retailers it is increasingly a hybrid world. E-tailing is still a nascent business model all over the world and it is to be seen how it emerges in the future. E-tailing will also work best as an adjunct and supplement to brick and mortar set up. On the flip side, retail stores can make consumers more comfortable with internet shopping since most traditional merchants allows customers to return on-line purchase to their offline stores. Sector Profile The Indian retail industry has experienced high growth over the last decade with a noticeable shift towards organized retailing formats. India's retail market is expected to grow at 7% over the next 10 years, reaching a size of US$ 850 billion by 2020. Traditional retail is expected to grow at 5% and reach a size of US$ 650 billion (76%), while organized retail is expected to grow at 25% and reach a size of US$ 200 billion by 2020.The US-based global management consulting firm, A T Kearney, in its Global Retail Development Index (GRDI) 2011, has ranked India as the fourth most attractive nation for retail investment, among 30 emerging markets. The cumulative retail demand for real estate across India is expected to reach 43 million square feet by 2013.Around 46 per cent of the total estimated demand between 2009 and 2013 will be come from Tier-1 cities. Some of the key players in the Indian retail market, with a dominant share are: 1) Pantaloon Retail Ltd, a Future group venture: Over 12 million sq. ft. of retail space spread over 1,000stores, across 71 cities in India. 2) Shoppers Stop Ltd: Over 1.82 million sq. ft. of retail space spread over 35 stores, in 15 cities. 3) Spencers Retail, RPG Enterprises: Retail footage of over 1.1 million sq. ft. with approx 250 stores, across66 cities. 4) Lifestyle Retail, Landmark group venture: Has approximately 15 lifestyle stores and 8 Home centres.Other major domestic players in India are Bharti Retail, Tata Trent, Globus, Aditya Birla More, and Reliance retail. Some of the major foreign players who have entered the segment in India are- Carrefour which opened its first cash-and-carry store in India in Delhi. - Germany-based Metro Cash & Carry which opened six wholesale centers in the country. - Wal-Mart in a JV with Bharti Retail, owner of Easy Day storeplans to invest about US$ 2.5 billion over the next five years to add about 10 million sqft of retail space in the country. - British retailer Tesco Plc (TSCO) in 2008 signed an agreement with Trent Ltd. (TRENT), the retail arm of Indias Tata Group, to set up cash-and-carry stores. - Marks &Spencers save a JV with Reliance retail.

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EXHIBIT -2 SIZE OF INDIAN RETAIL (IN US $ Billion)

Source: Technopak Analysis THE FUTURE Organized retail is a new phenomenon in India and despite the downturns, the market is growing exponentially, as economic growth brings more of Indias people into the consuming classes and organized retail lures more and more existing shoppers into its open doors. By 2015, more than 300 million shoppers are likely to patronize organized retail chains. The growing middle class is an important factor contributing to the growth of retail in India. By 2030, it is estimated that 91 million households will be middle class, up from 21 million today. Also by 2030, 570 million people are expected to live in cities, nearly twice the population of the United States today. Consumer markets in emerging market economies like India are growing rapidly owing to robust economic growth. India's modern consumption level is set to double within five years to US$ 1.5 trillion from the present level of US$ 750 billion .The online retail segment in India is growing at an annual rate of 35 per cent, which would take its value from Rs 2,000crore in 2011 to Rs 7,000 crore by 2015. For instance the Tata Group firm Infiniti Retail, that operates its consumer durables and electronics chain of stores under the 'Croma' brand, isin the process of tapping net savvy consumers. CONCLUSION The retail sector has played a phenomenal role throughout the world in increasing productivity of consumer goods and services. There is no denying the fact that most of the developed economies are very much relying on their retail sector as a locomotive of growth. The Retail Industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market. But all of them have not yet tasted success because of the heavy initial investments that are required to break even with other companies and competes with them. The Indian Retail Industry is gradually inching its way towards becoming the next booming industry. REFERENCES BoseB.S.(2003),"Handbook of Marketing Management",HimalayaPublishingHouse, Delhi Sontakki C. N. (2003), "Marketing Management", Kalyani Publishers, New Delhi Shivkumar, S(2009),Executive Director, Retail and Consumer Practices Price Warehouse Cooperative, India Retail Report, An Images F&R Research, pp.6. Available at: www.indiaretailing.com

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BRAND WARS THROUGH ADVERTISEMENT MEDIA Dr. J. SENTHIL VELMURUGAN.Assistant Professor, PRIMS, Periyar University, Salem. B.G.RAMARAJ.Ph.D Scholar, PRIMS, Periyar University, Salem ABSTRACT: In recent years, branding has become a fundamental part of companies, institutions and even individuals. It is now so closely linked to the workings of a company that if a brand suffers so too does the company. On the other hand, a strong brand will boost the value of the company. The Brand wars foremost reason is to impress the consumers among the existing brands in the market and retain the existing customers. Every strong brand identity is built on three pillars; a clear, differentiating positioning, distinct personality and consistent communication. Brand represents the full personality of the company and is the interface between a company and its audience. Branding has shifted from bring simply about identify creation that is designing a logo, name and look of feel for the brand to a period of attempting to emotionally connect with audience. So its resembles a Brand war (cold war) between the brands. INTRODUCTION: The term brand and branding are now commonly used in everyday language; yet they are also often misinterpreted. A brand encapsulates both the tangible and the intangible and can be applied to almost anything, a person, a business, a country, or ever a nebulous idea. Flexibility and adoptability are key attributes for any brand that wants to survive in a constantly changing society and global market place. This does not means that a company must rebrand with in new economic climate or when entering a new national market. Brand wars mean a competition, a ego, a conflict between two or more companies. A Brand is a Name, design, symbol, or any other feature that identifies the goods of specific company or organization. By Brand war we mean by competition between images of the companies. Every company and organisation has an aim in order to catch the market and stimulate their sales for their survivals. All are trying to maintain the stable position in market and in the meanwhile beat the opponent. If the company wants to reach the higher level, they need to fulfill the desire of customers and should provide offers, discounts etc. so survive in the field of marketing for longer time is not easy, so many companies handle different strategies, for maintaining their position in the market. Battle Behinds Consumers are confused while selecting a product in market, because lots of Brands are available in the market. There is no monopoly product except in a field or two. It starts from soft drink and ends with leather product; there is more than five brand competition in the market. Even electronic products like cell phone, laptops, washing machine, refrigerators are enclosed in this matter. The impact of some brands product is the merit of other brand product. For instant, Samsung and Sony Ericson cell phones are not having the future because of lesser battery backup. But in Nokia cell phone, battery backup is the USP that attract its customer. Thus is the merit of brand. So they directly and indirectly criticize their competitors through advertisement and other promotional activities.

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Rank 1 2 3 4 5 6 7 8 9 10

Brand

WORLD WIDE TOP TEN BRANDS: Region/Country Sector United States Beverages United States United States United States United States United States United States United States United States United States Business Services Computer Software Internet Services Diversified Restaurants Electronics Electronics Media Electronics

Brand Value ($m) 71,861 69,905 59,087 55,317 42,808 35,593 35,217 33,492 29,018 28,479

Top Battle of Brands: Television advertisement plays a vital role in the promotion of brands. So we can consider it as direct promotion and it relays the message We exist in Market to their target audience. So most of brands are directly imitating their competitors. Some of the top battle brands in television advertisements are, The above brands are the top four commercial battle brands in television advertisement. These advertisement are enrolled with brand music, slogan, comedy script etc, are in order to attract the consumer. PepsiCo VS Coca-Cola: PepsiCo was established in 1931, and Coca Cola was established in 1886. Both PepsiCo and Coca-Cola Company are direct competitors. Both the brands have their products and are involved in selling world class beverages.

Figure. No: 1 In the year 1998, PepsiCo came up with one television advertisement, casting a ten year old boy taking two tins of coca-cola from a coke vending machine, using that two tins of coca cola as a stand he then takes a Pepsi Can from the Pepsi vending machine placed a little higher. Now it was the turn of Coca-Cola company to come up with another television

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advertisement that shows Coca-Cola as a market leader criticizing Pepsi. For PepsiCo India, Bollywood Actor Salman Khan has been chosen as leading Brand Ambassador from 30 December 2010 till now and for Coca Cola, Indian Cricket Star Sachin Tendulkar has been casted as Brand Ambassador from 24 January 2011. The above example suggests how these two brands have been marketing aggressively to capture each others market share. Parachute VS VVD Gold: Both the Parachute and VVD Gold are the leading players of Hair oil. Parachute and VVD possess considerable market share .In order to acquire more market share both the brands have involved themselves in criticizing each other directly and indirectly. In 2008 VVD gold launched one television advertisement showing a green and blue coconut in separate table and Actress Shriya Saran puts a question to the viewers to differentiate the real coconut among the two. That advertisement indirectly signifies green coconut to be that of VVD gold and blue coconut representing Parachute. This advertisement helped VVD to an greater extent in delivering the message that VVD gold is always pure and fresh. Which is real coconut? Figure. No: 2

VVD gold

Parachute

For VVD gold hair oil Actress Kajal Agarwal was the Brand Ambassador in North region of India. And Actress Shriya Saran was the Brand Ambassador in South region of India. And for Parachute Actress Deepika Padukone was the Brand Ambassador in India, Actress Tamanna for Parachute Ayurvedic and Actor Dhanush for Parachute cooling oil. Rin VS Tide Rin is a product of Hindustan Unilever Limited. Rin was launched in India as a bar in 1969 with the iconic lightning. Rin powder was launched in 1994 as Rin Power White. Tide is manufactured by Procter & Gamble. The brand in India was launched with only two types of products namely Tide detergent and Tide bar. In the television advertisement the caption 'just a little of Rin' achieves superlative whiteness. This was hugely successful in establishing a superior brand image in the consumer's mind. Consumers believe that white clothes once dirtied or stained can never look new again. Tide wanted to change this very belief of the consumers by bringing to life the Tide dirt magnets property. Figure. No: 3

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The War Begins Initially Tide was sprawling behind Rin. In December 2009, Procter & Gamble Home Products introduced Tide Natural, a new version of Tide, at a price lower than Hindustan Unilever Limited. Competitive intensity had increased after the launch of Tide Naturals by Procter & Gamble in the mass segment. Hindustan Unilever Limited had responded with aggressive price cuts in Rin and a formulation change and thus the war begins. For Rin, Actress Kajol is leading as Brand Ambassador from 2009 to till now. Horlicks VS Complan: Horlicks has been a popular brand in India since 1930. The Horlicks available has been scientifically developed and specifically caters to the nutritional needs of the Indian diet. Horlicks alone enjoys 50% of the Health Food Drinks market. Complan was launched in India in 1964. Complan the Complete Planned Food in a Drink was formulated as per the World Health Organization (WHO) guidelines suggested for growing children.

Figure. No: 4

Product Positioning Horlicks initially positioned itself as food for getting better and a nutrient supplement for kids only. Later on it introduced other variants to reposition itself from children segment to other segments. Their brand images too have changed from a boring health drink to something that is healthy & enjoyable. Complan proclaims itself as a Complete Planned Food for growth with 23 nutrients. Later it gave up its comparative positioning & tried to match the product claim & the customer needs. Target Audience Horlicks Earlier Horlicks believed, white drinks are for the entire family in contrast to the browns, whose prime target audience is children. It targets mothers for its nourishment and kids for its great taste and variety. Target Audience Complan mainly targets growing children because children need adequate and balanced nutrition to help them achieve their maximum growth potential. Complan is also ideal for busy adults (especially housewives and rushed office-goers), expectant and nursing mother, elderly people and athletes. Ranges of products Both Complan & Horlicks are available in different flavors in different package sizes at different price points. Conclusion: The brand should have a sense of leadership internally and a desire and ability to constantly evolve and renew itself. The brand is not only recognized by customers, but there is also an in-depth knowledge and understanding of its distinctive qualities and characteristics. Now as we all know that Every coin has two sides. Similarly comparative advertisements are

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important and each other beneficial from the consumers and producers point of view only to the extent it is providing information about the product and making them aware. On the other hand comparative advertisements are not beneficial if advertisers comparisons are false & misleading. Reference: 1. http://trak.in/tags/business/2010/04/29/top-100-most-valuable-brands-world/ 2. http://www.interbrand.com/en/best-global-brands/best-global-brandsmethodology/Overview.aspx 3. http://www.authorstream.com/Presentation/priyashahps-919407-brand-wars/ OVERVIEW OF ADVERTISEMENT M.SELVAKUMAR, PH.D., Research scholar, PRIMS. Periyar University, salem-11 Dr.R.SUBRAMANIYA BHARATHY, Assistant Professor, PRIMS, Periyar University, salem-11. ABSTRACT: Advertising is any paid form of non-personal presentation or promotion of ideas, goods or services by an identified sponsor with a view to disseminate information concerning an idea, product or service. The message which is presented or disseminated is called advertisement. In the present day marketing activities hardly is there any business in the modern world which does not advertise. However, the form of advertisement differs from business to business. A product or service is advertised to create awareness in the minds of potential buyers. Some of the commonly used media for advertising are T.V, Radio, Website, News Paper, Magazines, Bill Bards, and Hoardings etc. Key Words: Benefits of Advertisement, Types of Media INTRODUCTION Advertising is used by commercial firms trying to sell products and services, by politicians and political interest groups to sell ideas or persuade voters, by not-for-profit organizations to raise funds, solicit volunteers, or influence the actions of viewers; and by governments seeking to encourage or discourage particular activities, such a wearing seatbelts, participating in the census, such a wearing seatbelts, participating in the census, or ceasing to smoke the forms that advertising takes and the media in which advertising appear are as varied as the advertisers themselves and the messages that they wish to deliver.. Advertisement has been defined differently by different persons. A few definitions are being reproduced below 1. According to Wheeler, "Advertising is any form of paid non-personal presentation of ideas, goods or services for the purpose of inducting people to buy." 2. According to William J. Stanton, "Advertising consists of all the activities involves in presenting to a group, a non-personal, oral or visual, openly sponsored message regarding disseminated through one or more media and is paid for by an identified sponsor." The above definitions clearly reveal the nature of advertisement. This is a powerful element of the promotion mix. Essential advertising means spreading of information about the characteristics of the product to the prospective customers with a view to sell the product or increase the sales volume. Benefits of Advertisement:

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Advertising broadens the knowledge of the consumers. With the aid of advertising, consumers find and buy necessary products without much waste of time. This speeds up the sales of commodities, increases the efficiency of labor in distribution, and diminishes the costs of selling. It is an accepted fact that without market stimulus of heavy advertising, consumers might have waited another sixty years for the product evaluation that took place in less than ten years - it took after all over sixty years from the invention of the safety razor before the first acceptable stainless steel blades appeared in the market. These words are more than enough to testify the potentialities of advertising in the field of modern marketing system. The main benefits of advertising may be narrated as follows: Benefits to Manufacturers It increases sales volume by creating attraction towards the product. It helps easy introduction of new products into the markets by the same manufacturer. It helps to create an image and reputation not only of the products but also of the producer or advertiser. In this way, it creates goodwill for the manufacturer. Retail price, maintenance is also possible by advertising where price appeal is the promotional strategy. It helps to establish a direct contact between manufacturers and consumers. Benefits to Wholesalers and Retailers Easy sale of the products is possible since consumers are aware of the product and its quality. It increases the rate of the turn-over of the stock because demand is already created by advertisement. It supplements the selling activities. Benefits to Consumers: Advertising stresses quality and very often prices. This forms an indirect guarantee to the consumers of the quality and price. Further large scale production assumed by advertising enables the seller to seller product at a lower cost. Advertising helps in eliminating the middlemen by establishing direct contacts between producers and consumers. It results in cheaper goods. It helps them to know where and when the products are available. This reduces their shopping time. It provides an opportunity to the customers to compare the merits and demerits of various substitute products. This is perhaps the only medium through which consumers could know the varied and new uses of the product. Modern advertisements are highly informative. Benefits to Salesmen: Salesmanship is incomplete without advertising. Advertising serves as the forerunner of a salesman in the distribution of goods. A sale is benefited the advertisement in following ways, Introducing the product becomes quite easy and convenient because manufacturer has already advertised the goods informing the consumers about the product and its quality. Advertising prepares necessary ground for a salesman to begin his work effectively. Hence sales efforts are reduced.

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 The contact established with the customer by a salesman is made permanent through effective advertising because a customer is assumed of the quality and price of the product. The salesman can weigh the effectiveness of advertising when he makes direct contact with the consumers. Benefits to Community or Society: Advertising leads to a large-scale production creating more employment opportunities to the public in various jobs directly or indirectly. It initiates a process of creating more wants and their satisfaction higher standard of living. For example, advertising has made more popular and universal the uses of such inventions as the automobiles, radios, and various household appliances. Newspapers would not have become so popular and so cheap if there had been no advertisements. The TYPES OF MEDIA TO COMMUNICATE PUBLIC: There is no dearth of media today. It may be direct or indirect. Direct method of advertising refers to such methods used by the advertiser with which he could establish a direct contact with the prospective hand involve the use of a hired agency for spreading the information. Most of the media are indirect in nature, e.g., press publicity, cinema, etc. The various media that are commonly used are being explained here under: Newspapers: Newspaper (morning or evening editions) are bought largely for their news value as such they are most appropriate for announcing new products and new development of existing products. The choice of a particular news paper for advertising depends upon many factors i.e., circulation of the newspaper, the type of readers it serves, the geographical region in which it is popular, the costs of space and general reputation of the paper etc. Magazines: Another medium under press publicity is magazines and journals. They also offer good facility because magazine are read leisurely when the reader is mentally prepared to receive advertisements. Radio: Radio advertising provides a way to reach a specific demographic audience. In addition, unlike print media, radio reaches out for prospects instead of prospects having to seek out a newspaper and related ads. Television: Television is a highly visual medium that is ideal for image advertising says the website Power Home Biz. One disadvantage is that prime advertising slots are often sold out. Billboards: Billboard advertising traditionally the use of signs along the road to promote a product or service also includes signs used in transit systems such as on buses, trains and taxicabs. Coupon Books: Coupon books, most commonly used to reach homeowners, contain individual coupons with special discount offers. Coupon books allow for the sharing of distribution expenses with other advertisers. A disadvantage is that you are competing for attention with many ads in the same book. Event Marketing: Event marketing involves either buying billboard or printed program ads at any event or sponsoring the entire event. One advantage is the ability to reach a targeted audience with a specialized interest. Internet: According to the website Podcasting News, online advertising is the fastest growing medium in history. Advantages include the ability to get immediate feedback on advertising results and to change ads in minutes. Mailing ads through

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the mail is a well-established marketing approach with the advantage of targeting prospects based on demographics, geographic location and psychographics Yellow Pages: Yellow Page advertising reaches many highly qualified prospects ready to buy. One disadvantage is that competing ads are located in the same place. Product placements: Covert advertising, also known as guerrilla advertising, is when a product or brand is embedded in entertainment and media. For example, in a film, the main character can use an item or other of a definite brand, as in the movie Minority Report, where Tom Cruise's character John Anderton owns a phone with the Nokia logo clearly written in the top corner, or his watch engraved with the Bulgari logo. Billboard advertising: Billboards are large structures located in public places which display advertisements to passing pedestrians and motorists. Most often, they are located on main roads with a large amount of passing motor and pedestrian traffic; however, they can be placed in any location with large amounts of viewers, such as on mass transit vehicles and in stations, in shopping malls or office buildings, and in stadiums.

CONCLUSION Advertising is one of the aspects of mass communication. Advertising is actually brand-building through effective communication and is essentially a service industry. It helps create demand, promote marketing system and boost economic growth. Thus Advertising forms the basis of marketing. Advertising plays as significant role in todays highly competitive world. REFERENCES: 1. Sissors, Jack Zanville, and Roger B. Baron. Advertising Media Planning. 6th ed. McGraw-Hill, 2002. 2. Allan, D. (2006a). Effects of popular music on attention and memory in advertising. Journal of Advertising Research, 46(4), 1-11. 3.Longhurst, M. (2003). Advertising and sustainability: a new paradigm, Admap, July/August. 4. Sound Advertising: A Review of the Experimental Evidence on the Effects of Music in Commercials on Attention, Memory, Attitudes, and Purchase Intention, David Allan, Ph.D.Department of Marketing Saint Joseph's University, Online Publication Date: October 23, 2007, Journal of Media Psychology, Volume 12, No. 3, Fall, 2007 5. Thorson, E., Chi, A., & Leavitt, C. (1992). Attention, memory, attitude, and conation: A test of advertising hierarchy. Advances in Consumer Research, 19, 366-379 6. http://www.buzzle.com/articles/different-types-of-advertising.html 7. http://www.google.co.in/ CHALLENGES AND PROBLEMS OF RURAL MARKETING Dr.R.SUBRAMANIYA BHARATHY, Assistant Professor Periyar Institute of Management Studies Periyar University K.BALAJI & P.MANIMEKALAI, Ph.D Research Scholars, Periyar Institute of Management Studies Periyar University ABSTRACT: Rural marketing is not an independent entity by itself.Infact there are sociological and behavioral factors which affect the economy of rural markets. By the large rural marketing

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may be described as an environment of thereof. The characteristics of the village, may be geographical, sociological, economic or behavioural, determine the function pattern of exchanges in the market. The structure of rural markets has an indirect bearing on the sociological dimensions as in a peasant oriented society the economic activity, the intervention of rural power structure its functional aspects is obvious and need to be examined. The power configuration is related with the pattern of landholding, tenancy system, money lending and repayment linkages and extent of political intervention in the village.under such situation the large farmers who also deal with money lending, stay at relatively better economy as compared to the medium and small farmers. The socioeconomic consequences of power structure which the medium and small farmers have to face, lead them to poverty trap with low production, low marketable surplus, low prices, low income indebtedness. The unorganized structure of rural markets is a factor of further disappointment to the farmers, artisans and petty businessmen o strike a profitable bargain. INTRODUCTION: The definition of rural marketing based on flows between rural and urban locations require defining the rural area.Maketing of products made and sold in rural areas like milk and milk products, locally manufactured tooth powder, cloth,soap,fertilizers,pesticides,farm machinery, hand crafted products etc.In rural marketing, there is more opportunities and also they have to face more problems. SEASONAL AND IRREGULAR DEMAND Rural demand is more seasonal compared to urban demand. The pre-dominance of agricultural in the income pattern is one main reason for this. The relatively greater influence of marriages and festivals on the purchase pattern is another. Interestingly, marriages and festivals often coincide with the harvest. Besides being seasonal, rural demand is somewhat irregular as well after all; agriculture in many parts India still depends on the vagaries of the monsoon. LOW STANDARD OF LIVING: The rural consumers are having low per capita income, low purchasing power, and low literacy and therefore, low standard of living. The per capita income of rural people is low as compared to their urban counterparts. The level of literacy rate is also lower in rural areas than that in urban areas. TRANSPORTATION: Transportation is the nerve center for any business centre. But unfortunately; most of rural markets are paralyzed in the absence of proper working of this nerve center. This problem is more deeply felt by the rural marketing system as it mostly deals in agro based product like fruits, fish ,vegetables, poultry and dairy products which get spoiled if not transported efficiency and quickly. Lack of proper roads and transportation facilities create difficulties in entering into rural market. Most of the villages do not have all weather roads. LANGUAGE PROBLEM: Multiplicity of languages spoken in villages is another difficulty faced by marketing people. This poses insurmountable problem in designing the community strategy .In the urban areas marketing communication can be managed by and large with English and Hindi.How ever marketing communication in the rural area has to necessarily be in the local language and idiom.

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URBAN MIND VS. RURAL MIND: There is a gulf of difference between urban mind and rural mind. That is why there is a wide gap in consumer behavior in rural areas and urban areas .Marketers is generally from urban areas. Their minds are urban and when they want to enter into the rural areas and win the rural minds with their urban frame there is a great problem. INADEQUATE MARKETING SUPPORT: Producers wholesalers dont extend full support in the form of liberal credit to the rural marketing outlets due to the limited potential of these outlets. This reduces their competitiveness in comparison to urban marketing institutions. If the network of financing agencies is improved in rural areas this problem can be solved. INADEQUATE AND INEFFICIENT COMMUNICATION FACILITIES: Business is game of opportunities and one has to take full advantage when opportunities knock at ones door. But in rural areas the marketing system is unable to take advantages of these opportunities whereas its counterparts in urban areas encase them. But the situations are fast changing with optimum utilization of information technology to connect rural India. LACK OF PROPER PLANNING: Most of the retailers in rural markets do not start a business for economic reasons, rather there are established and run with non-business objectives, viz.compulsion.or running family business, or to fight unemployment. Even agriculture is performed, not with profit motive nor on commercial lines, but a substance level, it is not business oriented but is undertaken as a way of life, simply because of the complete non-existence of any alternative avenues of employment and income generation. INSUFFICIENT STORAGE AND WAREHOUSING FACILITIES: In warehousing too, there are special problems in the rural context. Business firms find it quite difficult to get suitable godowns in many parts of rural India. There are no sufficient storage and warehousing facilities in rural areas. CONSTRAINTS IN MARKETING COMMUNICATION: The literacy rate among the rural consumers being low, the scope for using the print word is rather limited. The tradition bound nature of the people and their cultural barriers and taboos add to the difficulty of communication task. The situation is further compounded by the linguistic diversity. In the urban areas, marketing communication can be managed by and large with English and Hindi. Marketing communication in the rural areas has to necessarily be in the local language and idiom. The constraints in media compound the difficulty rural communication is also quite expensive. Rural communication has to go through the timeconsuming stages of creating awareness, altering attitudes and changing behavior. RURAL MARKETS AND SALES MANAGEMENT: Rural Market involves a greater amount of personal selling effort compared to urban marketing. The rural salesman must be able to guide the rural customers in the choice of products. It has been observed that rural salesman do not properly motivate in rural consumers. The rural salesman has to be patient listener as his customers are extremely traditional. He may have to spend a lot of time on customers visits to gain a favorable response from him. Channel management is also a difficult more intermediaries and consequently higher consumer prices. In many cases, dealers with required qualities are not available.

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BRANDING: The branding is the surest of conveying quality to rural consumers. Day by day, though national brands are getting popular, local brands are also playing a significant role in rural areas. This may be due to literacy ignorance and low purchasing power of rural consumers. It has been observed that there is greater dissatisfaction among the rural consumers with regard to selling of low quality brands, but sold at price on par or slightly less than the prices of national brands. Local brands are becoming popular in rural markets in spite of their lower quality. DESIGNING OF PRODUCTS: A product which is selling well in urban markets may not necessarily be a success in rural markets, the reason being the difference in utility value of the product. For example consumer goods which are becoming more or less a necessity in urban areas as a result of changing lifestyles may still be categorized as luxurious in rural areas. Although it is wrong to say that the rural markets have not changed during the last fifty years, there does exist a different with regard to the pace of growth in rural and urban areas. Therefore a product with a particular design and pattern may not find acceptance in rural markets, but may be a success in urban areas. Thus there is a need for paying considerable attention to the design of the product, to make it acceptance in the rural markets. PRICING OF THE PRODUCT: Price is the tool with which companies can compete with one another. It is a sensitive index, while considering the product. Price plays an important role in urban as well as rural markets, but it is more crucial in rural areas because the income is low.Moreover, price has to justify itself. The consumer must feel satisfied and benefited after playing the price for a particular product. CONCLUSION: Rural areas in India are considered today as a huge store house of untapped marketing opportunities, by marketers. Rural marketing is identifying and serving the needs of consumers living in villages. Three fourth of Indias population lives in rural areas. Some of the villages are located near cities and they enjoy facilities like electricity, water supply, communication infrastructure etc.Some other villages are located in remote areas and modern facilities have not yet reached them. The primary source of income for rural consumers is agriculture. 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 as the next growth driver in Indian market. REFERENCES: 1. S.Chand, Modern Marketing principles and practicesR.S.N.Pillai Bagavathi. 2. New age international publishers, Rural Marketing Awadhash Kumar Singh and Satyaprakash Pandey. 3. Rawat Publications Entrepreneurship and Rural MarketsRajagopal. 4. Response books Rural Marketing Targeting the Non-Urban ConsumerSanal Kumar Velayudhan.

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MEDICAL TOURISM R.VINODHINI, A.SHAKTHI & J.PAVI SUDHA, Sri Krishna Arts And Science College, Coimbatore641008 INTRODUCTION: Medical tourism is a term initially coined by travel agencies and the mass media to describe the practice of travelling across international borders to obtain health care. It also refers pejoratively to the practice of healthcare providers travelling internationally to deliver healthcare. It is broadly defined as 'Cost- Effective' private medical care in collaboration with the Tourism Industry for overseas patients needing specialized treatment. Quality is the primary factor however cost involved in obtaining quality health care attention that could be surgical or non-surgical procedures is another most important determining factor. Constraints such as high costs and long waiting lists for treatment or surgery have prompted people to look at effective options. India's world-class medical technology coupled with a skilled medical workforce will ensure that the Indian medical tourism industry is worth Rs. 10,800 crore ($108 billion) and that the number of foreign patients visiting the country crosses 32 lakh by 2015, according to a report. "Emerging Trends In Domestic Medical Tourism Sector", prepared by the Associated Chambers of Commerce and Industry of India (Assoc ham) estimated the current worth of Indian medical tourism industry at around Rs.4,500 crore with about 8.5 lakh foreign patients annually getting treated in India. According to Assoc ham, top notch facilities, especially in sectors like cardiology, joint replacement, orthopedic surgery, transplants etc. at a low price, are certain key factors making India a favored destination. PROCESS IN MEDICAL TOURISM: The typical process is as follows: The person seeking medical treatment abroad contacts a medical tourism provider. The provider usually requires the patient to provide a medical report, including the nature of ailment, local doctors opinion, medical history, and diagnosis, and may request additional information. Certified medical doctors or consultants then advise on the medical treatment. The approximate expenditure, choice of hospitals and tourist destinations, and duration of stay, etc., is discussed. After signing consent bonds and agreements, the patient is given recommendation letters for a medical visa, to be procured from the concerned embassy. The patient travels to the destination country, where the medical tourism provider assigns a case executive, who takes care of the patient's accommodation, treatment and any other form of care. Once the treatment is done, the patient can remain in the tourist destination or return home. MEDICAL TOURISM INSURANCE: With the surge in medical tourism, there has also been rising demand to insure for medical tourism.

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Medical tourism insurance offers competitive insurance for medical patients traveling abroad and covers them against unforeseen costs. Medical tourism insurance covers varied aspects of your medical trip such as trip cancellation protection, travel accommodation reimbursable, unforeseen medical expenses not covered by the scheduled medical treatment etc. Medical tourism insurance in most cases also covers unexpected expenses such as lost baggage while in transit.

PROMOTION OF MEDICAL TOURISM: In India the strong tradition of traditional systems of health care in Kerala, for example,. Kerala Ayurveda centres have been established at multiple locations in various metro cities, thus highlighting the advantages of Ayurveda in health management. Medical tourism focuses on treatment of acute illness, elective surgeries such as cardiology and cancer, among others. From October this year , the Government plans to start overseas marketing of India as a medical tourism destination. Senior Government officials say that the formalities for marketing medical facilities to a global audience have already started and they hope to complete the process of price-banding of hospitals in various cities by the third quarter of this year. ADVANTAGE: India was one of the first countries to recognize the potential of medical tourism and today is the leading destination for global medical tourists. India has been a tourist spot and has lured foreigners predominantly because of its mysticism, spirituality, exotic locales, and rich history and culture. As exceptional standards of medical treatment emerge, and there is a larger demand for low-priced, yet good quality health care, and an active involvement of the private sector, foreign patients have started perceiving the country as a perfect destination to have medical, surgical, and dental care treatments. With privatization of health care services (private sector controls about 80% of the health care market in India), enormous and massive growth of infrastructure, improved technological support and facilities, and increasing awareness regarding quality and international accreditations like JCI, India has surfaced as a strong contender in the Medical Tourism Market. MEDICAL TOURISM SERVICES IN INDIA: A patient can travel to India for just about any medical procedure he or she needs to have done. The most common major surgeries patients fly in for is open heart surgery and orthopedic joint replacement surgery as these are very expensive types of necessary surgery if you do not have proper medical insurance. Indian hospitals today excel in these kinds of treatments and there are many hospitals specialize in both medicine fields. Cosmetic procedures are also a very popular type of procedure to have done in India since medical insurance does not usually cover this kind of operation and the costs can be fairly high. Patients will travel for any plastic surgery, starting from breast augmentation and enlargements to complete facelifts and tummy tucks. There are many private hospitals in India as some stand out with world renowned names. "Apollo Hospitals" is a main Indian chain that runs 53 different hospitals with over 8,500 beds. "Max Healthcare" is another known private hospital chain that runs eight medical centers in the national capital region in India.

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Statistics show that India receives a bit over 5 million tourists a year and it is safe to say the majority of this number does come to India for sightseeing. However, a small percentage of this number comes for a completely different primary reason, and that is to undergo medical surgery in the country. Medical Tourism has been one of the fastest growing sectors in India. By 2015, it is expected to become an approximately 9500-crore industry in the country. Every year, around 150,000 patients from the developed world come to India for affordable healthcare. According to the current estimates, the cost of treatment is just around 10% of the cost compared to the United States and the United Kingdom. Some of the least expensive treatments foreigners flock to India are for hip replacement, alternative medicine, eye surgery, cardiac bypass, and bone marrow transplant. GROWTH OF MEDICAL TOURISM: The Indian healthcare industry is undergoing a rapid expansion phase with 12 per cent CGPA (cumulative growth per annum) since 2008 and its market is poised to gross Rs 12,60,000 crore in revenue by 2020. Government initiatives and public-private partnerships will help create better opportunities for nurses, paramedics, emergency medical technicians and specialised doctors across the country. According to the Investment Commission of India, the market size of hospitals and nursing homes will be Rs 54,000 crore with 20 per cent growth rate per annum; medical equipment Rs 9,000 crore with 15 per cent growth; clinical lab diagnostics Rs 9,000 crore with 30 per cent growth; imaging diagnostics Rs 4,500 crore with 30 per cent growth and other services, including training and education, aesthetics and weight loss and retail pharmacy Rs 9,000 crore with 40 per cent growth. Health insurance has the potential to show top line growth, as a study estimates the number of insurable lives at 315 million (31.5 crore), with a potential of generating Rs 34,650 crore in premium by 2015. Importing customers into India for medical tourism, educational services, and leisure tourism is expected to generate an additional $6-50 billion in revenue and create 10-48 million direct and indirect jobs by 2020. With a number of innovations and trends in the healthcare sector, there is a need for the private and public sectors to work jointly in the interest of the public. The healthcare sector has emerged as one of the most progressive and largest service sectors in the country. The country's vision 2020 should include delivery of affordable healthcare system even to the rural poor, besides making available the best healthcare systems. India has become Medical Tourism capital of the modern world. Medical Tourism is expected to generate revenue of US $ 350 million by 2013 in India. Medical Tourism in India is expected to grow at an annual growth rate of 37 percent from 2009-2012. LEGAL ISSUES: Receiving medical care abroad may subject medical tourists to unfamiliar legal issues. The limited nature of litigation in various countries is one reason for the lower cost of care overseas.

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While some countries currently presenting themselves as attractive medical tourism destinations provide some form of legal remedies for medical malpractice, these legal avenues may be unappealing to the medical tourist. Should problems arise, patients might not be covered by adequate personal insurance or might be unable to seek compensation via malpractice lawsuits. Hospitals and/or doctors in some countries may be unable to pay the financial damages awarded by a court to a patient who has sued them, owing to the hospital and/or the doctor not possessing appropriate insurance cover and/or medical indemnity. ETHICAL ISSUES: There can be major ethical issues around medical tourism. For example, the illegal purchase of organs and tissues for transplantation had been alleged in countries such as India and China prior to 2007. The Declaration of Istanbul distinguishes between ethically problematic "transplant tourism" and "travel for transplantation". Medical tourism may raise broader ethical issues for the countries in which it is promoted. For example in India, some argue that a "policy of 'medical tourism for the classes and health missions for the masses' will lead to a deepening of the inequities" already embedded in the health care system. In Thailand, in 2008 it was stated that, "Doctors in Thailand have become so busy with foreigners that Thai patients are having trouble getting care". Medical tourism centred on new technologies, such as stem cell treatments, is often criticized on grounds of fraud, blatant lack of scientific rationale and patient safety. However, when pioneering advanced technologies, such as providing 'unproven' therapies to patients outside of regular clinical trials, it is often challenging to differentiate between acceptable medical innovation and unacceptable patient exploitation. TRAVEL TIPS: The Indian currency is rupee. It is available in denominations of Rs 1, 2, 5, 10, 20, 50, 100, 500 and 1000. Changing money in India can be quite a tedious process. So, it is advisable that you to change a considerable amount at one time. Travelers' cheques are not accepted at all the banks. Ensure that you change money at accredited bureaus only. Changing money at any other place is illegal. Currency can be exchanged at the airport also. Money-changers are available at quite a few hotels as well. You will find numerous branches of International foreign exchange providers in all the metros. There are no constraints on the amount of foreign currency that you can bring in. While traveling within the country, do not drink water from taps or roadside vendors. Drink only bottled water. Always eat fruits you can peel. Wash the fruits thoroughly with water before eating. Avoid eating food at roadside vends, even if they look tempting! Also, try to stay away from spicy / pungent dishes, especially in the early stages of your travel. It is prudent to keep a mosquito repellent with you. If you are visiting India during the summer, ensure that you drink plenty of water and stay well hydrated, cover your head with scarves or hats, wear sunglasses and slather on a good sun-block. Stay indoors in the afternoon. There have been several instances of crime, especially against foreigners in India. Traveling alone in remote / secluded areas, and after dark is particularly risky. Also, foreigners are easy targets for robbery and thieving. Pick pocketing and bag

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snatching are relatively common; thus, avoid crowded areas, where it is easy for thieves to operate. Also, stealing passports from the luggage, on trains and buses is fairly prevalent. Theft of U.S. passports is rather common, mainly in major tourist areas. Another thing that foreign tourists ought to know is that political demonstrations are extremely common in India. These protests often become aggressive and cause disturbance of transportation services, making it slightly inconvenient for foreigners. CONCLUSION: Thus we provide life care and hospitality specialize at Medical tourism and its related service. Medical tourism can be described as the rapidly growing practice of traveling across international borders to obtain health care service. By this, we can understand that medical tourism is more useful for the people. In India the cost for medical is in low cost. And so many people from foreign are travelling to India as a trip and taking care of their health. It is more using for the people and here are some institutions helping them by giving free service to the patients.

A REVIEW ON SERVQUAL, CUSTOMER SATISFACTION IN LIFE INSURANCE INDUSTRY Mr. N.PRAKASH, Research Scholar, Bharathiyar University Dr. V.MAHALAKSHMI, Dean (MBA), Panimalar Engineering College, Poonamallee, Chennai. ABSTRACT: Service quality assessment is the most important parameter for a service firm like Life insurance companies. The measurement of service quality has become a difficult task due to inherent peculiarities and punctuations regarding human service involved. This paper deals with the literature view of service quality (SQ) and Customer Satisfaction (SAT) in the Life Insurance industry. Keywords: Servqual, Customer Satisfaction, Life insurance Introduction Service sector plays an increasingly significant role in the Indian economy. Growth in the service sector in recent years has been manifold and has far exceeded the growth in manufacturing sector. Services contribute substantially to the GDP and to the exports of the country. It is obvious that the service sector has garnered the attention of service managers, academic researchers and they have in turn directed their efforts in comprehending the dynamics involving customer satisfaction. Satisfied customers who stay with a particular service have long term impact on profitability in several ways. Life insurance business means the business of effecting contracts of insurance upon human life, including any contract whereby the payment of money is assured on death or the happening of any contingency dependent on human life and any contract which is subject to payment of premiums for a term dependent on human life. Insurance is an important tool in the overall financial planning purview of any individuals life. It assists in mitigating the financial impact of the risks faced by the individual. Life Insurance more fondly known as

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Life assurance has in recent times ceased to be only a Protection for the family and has turned into an important investment outlet. SERVQUAL (SQ) The main objective in doing business is to make a profit. Earning a profit is not possible without customers. Getting new customers and maintaining existing customers, therefore, is crucial to business success. To attract customers, the companys brand image can directly influence customers decision making. Life insurance Business seem to differentiate themselves from other competitors in the same service industry by service quality in order to build their brand image. It is the need to create a professional brand image and reputation which matter to their sector. A high quality outcome can be indicated from the brands reputation (Greenwood et al. 2005; Lowendahl 2000; Nanda 2003). In a service industry, human resources are highly important because services are usually produced and consumed simultaneously and clients usually interact directly with the service providers (Zeithaml & Bitner, 1996). Kotler (1994) identifies two types of service industries. The first type is classified as people-based industries while the second type is the facility/equipment-based. The SERVQUAL method from Valarie A. Zeithaml, A. Parasuraman, and Leonard L. Berry is a technique that can be used for performing a gap analysis of an organization's service quality performance against customer service quality needs. SERVQUAL is an empirically derived method that may be used by a services organization to improve service quality. The method involves the development of an understanding of the perceived service needs of target customers. These measured perceptions of service quality for the organization in question, are then compared against an organization that is "excellent". The methodology was originally based around 5 key dimensions: 1. Tangibles. Appearance of physical facilities, equipment, personnel, and communication materials. 2. Reliability. Ability to perform the promised service dependably and accurately. 3. Responsiveness. Willingness to help customers and provide prompt service. 4. Assurance. Knowledge and courtesy of employees and their ability to convey trust and confidence. 5. Empathy. The firm provides care and individualized attention to its customers. Following has been adopted later by researchers 1. Tangibles. Appearance of physical facilities, equipment, personnel, and communication materials. 2. Reliability. Ability to perform the promised service dependably and accurately. 3. Responsiveness. Willingness to help customers and provide prompt service. 4. Competence. Possession of required skill and knowledge to perform service. 5. Courtesy. Politeness, respect, consideration and friendliness of contact personnel. 6. Credibility. Trustworthiness, believability, honesty of the service provider. 7. Feel secure. Freedom from danger, risk, or doubt. 8. Access. Approachable and easy of contact. 9. Communication. Listens to its customers and acknowledges their comments. Keeps customers informed. In a language which they can understand.

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10. Understanding the customer. Making the effort to know customers and their needs. Service Performance (SERPERF) The SERVQUAL instrument proposed by Parasuraman et al. (1988) uses the disconfirmation approach wherein the gap between customers expectations and the actual performance of the service promised is measured. An alternative approach to this could be the SERVPERF which is the measurement of the customers perception of the performance of the service offered by a provider. This is the assessment of the adequacy of the performance of the service and its quality (Cronin and Taylor, 1992; Peter et al., 1993; Brown et al., 1993; Bebko, 2000). When it comes to service quality dimensions, research indicates the futility of a universal construct for assessing service quality (Levitt, 1981; Lovelock, 1983) and also that service quality in industry or context specific (Babakus and Boller, 1992). Customer Satisfaction (SAT) Customer Satisfaction (SAT) has been defined by Rust and Oliver (1994) as the customers fulfillment response, which is an assessment and an emotion based reaction to a service provided. Cronin et al. (2000) studied service satisfaction using the dimensions viz. interest, enjoyment, surprise, anger, wise choice, and doing the right thing. However, the authors employ a modified version of the four emotion-based model presented by Westbrook and Oliver (1991). Researchers in customer satisfaction have included it as an affective construct and not as a cognitive construct (Oliver, 1997; Olsen, 2002). In the service industry, the dominant dimensions of service quality are Tangibles, Responsiveness, Recovery, and Knowledge. The dimension Accessibility and Flexibility as well as the Reliability dimension are expected to play a less dominant role in influencing Customer Satisfaction (SAT). Relating Service Quality and Customer Satisfaction in Life Insurance Life insurance providers offer services that are credence products with very few cues to signal quality. It has been suggested that consumers usually rely on extrinsic cues like brand image to ascertain and perceive service quality (Gronroos, 1984). This factor is especially true for a pure service such as insurance, which has minor tangible representations of its quality and is highly relational during most transactions. There is also a lack of price signal in the market due to specialized customer needs and difficulty in comparing prices; thus consumers cannot rely solely on price as an extrinsic cue to signal quality. The outcomes of life insurance purchase are often delayed, and thus do not allow immediate post-purchase valuation. As such, the consequences of a purchase do not produce an immediate reaction towards overall satisfaction. This situation is more apparent as the future benefits of the product purchased are difficult to foresee and take a long time to prove its effects (Crosby and Stephens, 1987). Infrequent purchase and usage of such credence products by consumers would mean an inability or difficulty in forming service expectations due to limited understanding of and familiarity with the service (Johnston et al., 1984). At the same time,because of the amount of money that is typically invested in an insurance policy, customers seek long-term relationships with their insurance companies and respective agents in order to reduce risks and uncertainties (Berry, 1995). Pure services like insurance may, therefore, conjure different expectations than that of services that include tangible products (Toran, 1993). An insurance policy is almost always sold by an agent who, in 80% of the cases, is the customers only contact (Richard and Allaway, 1993; Clow and Vorhies, 1993; Crosby and Cowles, 1986). Customers are, therefore, likely to place a high

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value on their agents integrity and advise (Zeithaml et al., 1993) The quality of the agents service and his/her relationship with the customer serves to either mitigate or aggravate the perceived risk in purchasing the life insurance product. Putting the customer first, and, exhibiting trust and integrity have found to be essential in selling insurance (Slattery, 1989). Sherden (1987) laments that high quality service (defined as exceeding customers expectations) is rare in the life insurance industry but increasingly demanded by customers. Toran (1993) points out that quality should be at the core of what the insurance industry does. Customer surveys by Prudential have identified that customer want more responsive agents with better contact, personalized communications from the insurer, accurate transactions, and quickly solved problems (Pointek, 1992). A different study by the National Association of Life Underwriters found other important factors such as financial stability of the company, reputation of the insurer, agent integrity and the quality of information and guidance from the agent (King, 1992). Clearly, understanding consumers expectations of life insurance agents service is crucial as expectations serve as standards or reference points against which service performance is assessed (Walker and Baker, 2000). Research has shown that the quality of services and the achievement of customer satisfaction and loyalty are fundamental for the survival of insurers. The quality of after sales services, in particular, can lead to very positive results through customer loyalty, positive WOM, repetitive sales and cross-selling (Taylor, 2001). However, many insurers appear unwilling to take the necessary actions to improve their image. This creates problems for them as the market is extremely competitive and continuously becomes more so (Taylor, 2001). Several metrics have been used to gauge service quality. In the United States, for example, the industry and state regulators have used "complaint ratios" in this respect (www.ins.state.ny.us). The Quality Score Card, developed by QIC and RIMS, has also been used. However,both the complaints ratios and the quality scorecards have been found to be deficient in measuring service quality and so a more robust metric is needed. Researchers believe that Customer satisfaction is antecedent to Service quality. And another group of researchers argued that Service quality is antecedent to Customer satisfaction and that a positive Service quality perception can lead to customer satisfaction which then results in positive Behavioural Intentions (Brady and Robertson, 2001). Interestingly there is a third perspective forwarded by Taylor and Cronin, 1994, who opine that neither of the above two constructs is an antecedent of the other. However, Dabholkar (1995) reiterates that the antecedent role of each construct is consumer specific. His argument is that for a consumer who is cognitive oriented, he or she will perceive the relationship as service quality being antecedent to satisfaction and if the consumer was affective oriented then he or she will perceive that satisfaction causes positive perceived service quality. Extensive research carried out by Brady and Robertson (2001) across cultures indicates that Service Quality (SQ) is an antecedent to Customer Satisfaction (SAT). In the life insurance industry, perception of service on the competence, personalized financial planning and corporate image dimensions is largely below that of expectation level. This finding is clearly disturbing since these dimensions have strong correlation with expectations of quality. Clearly, if some customers feel that they are not getting personalized services for planning their finances or if the feel that their company is not competent enough

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or if they feel that they are not getting value for money or have to deal with inefficient agents, such customers will defect. Conclusion The researchers also comprehend the importance of customer satisfaction and customer focus for the Life insurance companies, an attempt is made to study the delivery of quality service in service sector. For achieving this objective of delivering quality service, it is important that organizations must understand their competitive environment. The sources of customer expectations are marketer controlled factors as well as factors that the marketer has limited ability to affect (innate personal needs, word of mouth communications, and competitive offerings). Life insurance companies works right strategies to give quality service to the customers which in turn influence customer satisfaction leads to customer loyalty. It is very clear from the above discussions that insurers have to shed a lot of old ideas, bring changes in practices, and adopt a distinct approach to meet the challenges of the emerging situation ahead. Hence it is desirable for insurance companies to develop a customer centric approach for future survival and growth. References 1. Zeithaml, V.A., Berry, L.L. and Parasuraman, A. (1996), The behavioral consequences of service quality, Journal of Marketing, Vol. 60 No. 2, pp. 31-46. 2. C.N. Krishna Naik,,Swapna Bhargavi Gantasala, Gantasala Venugopal Prabhakar, (2010) SERVQUAL, Customer Satisfaction and Behavioural Intentions in Retailing,European Journal of Social Sciences Volume 17, Number 2,200-213. 3. Pitchaya Sonsa-ardjit,Ramon Vejaratpimol, (2010), Clients perspectives Toward Audit Service Quality of the Big 4 in Thailand, Karlstad Business School 4. Bebko, C.P. (2000), Service intangibility and its impact on consumer expectations of service quality, Journal of Services Marketing, Vol. 14 No. 1, pp. 9-26. 5. Dr. Masood H Siddiqui & Tripti Ghosh Sharma (2010) Measuring the Customer Perceived Service Quality for Life InsuranceServices: An Empirical Investigation,International business Research, Vol. 3, No. 3; July 2010

CULTURE: AN ANECDOTAL FACTOR OF CONSUMER BEHAVIOUR TO SETTLE-ON MARKETING STRATEGIES OF MNCS Mrs. M. RAJEE, Research Scholar, (SCSVMV University, Kanchipuram) & Assistant Professor, Department of Management Studies, Mohamed Sathak College of Arts and Science Dr. K. SHYAMA SUNDAR, Research Supervisor, (SCSVMV University, Kanchipuram) & Director, Department of Management Studies, Mohamed Sathak College of Arts and Science Abstract: In this competitive business scenario there should be a need for rigorous study about the changing consumer behaviour. In this paper the researcher has decided to examine the far extent to which cultural factors would affect the operations of multinational corporations to identify the marketing problems, and find out the solution. This paper attempts to throw a light on the relationship between culture, specifically what has been termed as ethnicity, and its impact on consumer purchase decisions. The influence of culture on one hand is

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extremely deep and profound; on the other hand it is very difficult to point out as how exactly the culture is going to influence a persons buying pattern. Cultural impact is found on every sphere, the life styles, personalities, attitude, perception, values, norms, beliefs and many more. In fact, culture forms up the background for all other factors affecting the consumer behaviour. How people dress up, what they eat, how the food is prepared, how they decorate their houses, how they celebrate various festivals, how they spend during marriages, are all manifestation of their culture. It was therefore recommended that multinational corporation should embrace the marketing concept in their operation, their promotion and products adapted to the environment. To develop a successful marketing strategy, an organization must take into consideration the cultural influences of the society where the new product is being introduced. People make decisions about consumption of a new product based on these cultural influences. Precisely for the same reason it is important for the marketer to study the characteristics of culture and its influence on the consumer. Keywords: Consumer Behaviour, Culture, Decision-making. Introduction: Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are different processes involved in the consumer behavior. Initially the consumer tries to find what commodities he would like to consume, then he selects only those commodities that promise greater utility. After selecting the commodities, the consumer makes an estimate of the available money which he can spend. Lastly, the consumer analyzes the prevailing prices of commodities and takes the decision about the commodities he should consume. Meanwhile, there are various other factors influencing the purchases of consumer such as social, cultural, personal and psychological. From the marketers view point culture is the most important characteristics which influence the consumer Behaviour. Culture is defined as a set of basic values, perception & behaviours adopted by a member of the society from family and other institutions. A person may change their dress, way of eating and living, but their cultural values remain unchanged because they are deeply rooted within their heart, mind, body and soul, which imbibe from their childhood days. Ethnic groups are any group which is defined as set off race, religion or national origin or some of these combination of these categories.(Gordon,1964) The emergence of multinational firms is one of the most recent developments of the last few decades. These firms are known to be large with adequate manpower and financial strength that challenge the Gross National Products of some of the less developed countries. According to Stopford & Wells (1972), multinational firms in consumer goods industry do happen to be firms that devote more efforts to advertising and other forms of persuasive marketing than non-international firms. Review of Literature: Culture is so pervasive, yet complex that it is difficult to define in short simple terms. It seems there are as many definitions of culture as there are anthropologists and social scientists, each defining it to suit his understanding and interpretation. To some, the term refers to finesse in self comportment. A cultured person is one who behaves in a becoming way according to his societys standard of behaviour, a gentleman, a well brought up lady, one that is so holistically educated that he is at home with any given subject of discussion in

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art, music, literature, politics etc., who has cultivated taste for what society judges admirable and worthy of the human spirit (Umoren, 1996). To others, culture refers to masquerades, traditional dances, festivals, traditional marriage etc. In this instance, fierce arguments in defence of polygamy, violence in masquerades, violence and extraordinary spending in the burial of the dead, etc. are heard of in the name of our culture. According to Howard & Sheth (1969), culture refers to the collective mental programming which people in a society have. This means that every individuals activities are directed by his or her own culture. Culture is also seen as selective man-made way of responding to experience, a set of behavioral pattern which means that culture influences or affects motives, brand comprehension, attitudes and intention to use. Thus culture is not only a narrow view of mans activities, but extend to include all the activities which characterized the behaviour of particular communities of peoplethe way they eat, how they talk, look and general behavioral pattern. Hawkins et al. (1983) defined culture as that complex whole which includes knowledge, beliefs, arts, law, morals, customs and any other capabilities and habits acquired by man as a member of society. To Hawkins et al., term, acquired by man means that culture is socially learnt. The researcher therefore looks at culture as a total way of life of people living together. Every individual is subject to his or her culture, that is, the way people live, eat, dance, believe, dress, sing, etc. The general patterns of behaviour by people accepted by them are influenced by their culture. Every form of culture is identified in term of language (Umoren, 1996). Language is a vehicle of culture. In short every language serves as a vehicle of the culture of the people who speak that language. In Nigeria there are 374 ethnic languages and groups. Some languages are found in more than one state. For example Yoruba is in six states, Igbos in four states, and Annang, Efik and Ibibio in two states. Hausa cuts across all the states in the North, these languages effects consumer behaviour. To make consumer accept a product, language is used to promote the product. Advertising, personal selling, sales promotion and publicity cannot be effectively used without language. The MNC needs to understand this in going into any nations for any type of business. Adopting the symbolic theoretical approach, Umoren (1996) treated religion as a cultural system and defined culture as systems of symbols and meaning. There are three main religions in Africa: Traditional religion, Christianity and Islam. The development of man cannot be completed without one type of religion or another. In Nigeria, Christianity dominates the South, while Islam dominates the North and the traditional exists in both areas. Religions affect consumption behaviors and the purchase pattern of the individual. For instance, Islam in the North does not allow beer parlours and imbuement of alcohol, whereas in the South beer is sold everywhere. Because of religion some married women cannot move publicly as they like. All these affect the MNC marketing performance. They must adapt their product and promotion to suit their area of operation. According to Busch & Houston (1985), values are enduring beliefs that guide behaviour in specific situations. A value exists mainly at the individual level, but when it is substantially shared throughout a society, it becomes a cultural value. Knowledge of the socio-cultural sector in terms of cultural values is crucial to marketing, because cultural values influence the behaviours of most individuals in consumption situations. As cultural values shift, so will motives for buying products, and so the firm that fails to recognize this will overlook opportunities for new products or changes necessary in existing ones. Cultural values are widely held beliefs that affirm what is desirable and have an impact on activities (Hawkins et al., 1983). These values affect norms, which specify an acceptable range of responses to

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specific situations. The beliefs, cultural values and norm in different countries show great variation. For instance, most Americans still believe in work, in getting married at appropriate age, in giving charity and in being honest. Some Nigeria people in the North can marry from the age of twelve. When products are introduced into one country from another, acceptance is far more likely if there are similarities between the two cultures. Connotations associated with body motions, greetings, colors, numbers, shapes, sizes and symbols vary considerably across cultures (Pride & Ferrell, 1985), and these cultural differences have marketing implications that pertain to product development, personal sales, advertising, packaging and pricing. The home country of the multinational enterprises is usually the base of expansion and initial development of the firm. It houses the parent office, otherwise called the headquarters. The host country is where multinationals have their subsidiaries. According to Berham (1969), the characteristics of multinational firms are that they attempt to treat the various markets as one, to the extent to which the host countries government permit. They also respond to the market opportunities around the world and try to pull together various elements of the enterprises to take maximum advantage of its managerial know-how, advanced techniques and coordinated marketing. Finance functions, product differentiation, extensive advertising, advanced technology and managerial knowhow are part to their known characteristics. Once a firm decides to be involved in international arrangements, management must decide which operational structure will be employed to implement this international venture. The structure depends upon whether the foreign arm is intended to remain as a secondary appendage to the parent body or whether management is interested eventually in developing a fully integrated world marketing enterprise. Nwokoye (1981) identified that the choice of a given structure is a function of both internal and external variables. The internal variables include: financial capacity, established corporate policies, size and experience in foreign operations. The external variables may include: economic and marketing information, legal restrictions, non-tariff barriers and political, social and cultural factors. However, six basic kinds of structure or involvement include: exporting, licensing, contract manufacturing, management contracting, joint venture and wholly owned subsidiaries. McCarthy & Perreault (1984) viewed marketing strategy a big picture of what a firm will do in some market, made up of two inter-related partsthe target market and the marketing mix. The target market is a fairly homogenous (similar) group of customers to whom a company must appeal to while the marketing mix is the controllable variables, which the company puts together to satisfy this target group. Pride & Ferrell (1985) saw a marketing strategy as that which encompasses selecting and analyzing a target market (the group whom the organization wants to reach) and creating and maintaining an appropriate marketing mix (product, distribution, promotion and price) that will satisfy those people. In this instance, a marketing strategy forms the core of a successful marketing plan. It articulates a plan for the best use of the organization resources and advantages to meet its objectives. When choosing a target market, marketing managers try to evaluate possible markets to see how entering they would affect the firms sales, costs and profits. Cultural Impact on Consumer Behaviour: Cultural impact on consumer behaviour is very deep. Out of all the factors, cultural impact is the widest component, affecting consumer behaviour. It provides the background of the other factors like personality, attitude, motivation, family, social class, etc. It is through the

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reference groups that the cultural, sub cultural and cross cultural values are transmitted. Among all these characteristics of culture namely, culture is invented, is a set of learned responses, is shared, is perspective, etc. The most important characteristics of culture from the marketers view point is its dynamism and capability. Marketers can segment the market based on not only cultural values and background of the consumers but also on the basics of smaller subgroups within the same society. In terms of ethnic origin, religion, geographical location, age case and even profession and economic status within a larger cultural group, members of a specific sub culture will possess certain specific beliefs, values and rituals. Sub cultural groups can be overlapping. With the advent of globalization, what become important to the marketer to study is not only the cultural and sub cultural aspects of a society or a country, but, also the transmission of cultures across the countries. In todays world, people are talking more and more of transnational. However, cross cultural aspects result in certain marketing problems especially in terms of pricing, promotion and distribution of the product. Dynamism in Culture: Culture is changing and can be changed; marketers can play a significant role in influencing the culture and mould consumer buying behaviour accordingly. Culture reacts to almost all kinds of changes in the society, whether it is technical, demographic, climatic, political etc. Since of all them play their role to influence culture, finding out how culture is changing becomes difficult to measure. The marketer has to realize these changes and appropriately change his marketing strategy. Marketers who can properly keep track of these cultural changes can benefit immensely by tapping the opportunity at the earliest. Emergence of New Consumer Culture: Eating out grows in Urban India In urban India, there has been a shift in attitude towards eating out, especially in the North and the West. Traditionally, it was thought to be uncultured to eat in restaurants, and families that did so regularly were thought not to belong to the typical Indian family as well as being wasteful with their money. Now, however, eating out is common and families do not eat out are considered old-fashioned and conservative. For example, in big cities like Delhi, Mumbai, Bangalore many families regularly go out for dinner in posh restaurants, especially on weekends. Women gain Confidence with colour Cosmetics A decade ago, there was a lack of confidence in how to use western-style colour cosmetics. The Indian art of dressing included eye-liner, kumkum, flowers in the hair (a very popular custom in Tamil Nadu), and some perfume. It was not considered respectable to use colour cosmetics on a daily basis. The use of colour was accepted for brides, professional dancers or performers. Otherwise, frequent usage was associated with a lack of culture or women loose morals. That has now changed. Women use western style makeup more confidently. Skincare routines have been learnt, and urban middle-income girls experiment with hairstyles and hair colours. Beauty parlous have mushroomed in big cities and well-known cosmetic brands like Garnier, LOreal have goof clientele for their cosmetic brands. Fair Skin on the wish List Indian men are obsessed with fair skin as their female counterparts. Matrimonial columns in the countrys press and online are full of advertisements asking for fair brides and grooms, reflecting the desires for society. Thats why Fair& Lovely skin cream is a super-hit skin care brand in India.

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Rural Spending being cultivated The high per capita spending sectors are hair care and oral hygiene. They are also product categories where the rural consumption accounts for a high proportion of sales. Temple visits attracting Followers Visits to the local or renowned temples from part of the cultural tradition of most Indian families. These are also social visits as those visits offer a chance to meet neighbors, friends and relatives. For, many old people, it is their only daily outing. Saving rates Dropping With a greater array of products to buy, Indians are saving less than before. Both in the rural and urban areas, Indian Households are spending more on product buying and acquisitions rather than investments. Marketing Implications of Cultural Behaviour: There are certain behaviours which could be associated with specific indain culture. These could be the usage of product categories, for example, the bindi worn by women in most parts of the country. It is essential that a brand name selected for a product category should have an ethnic Sounding name. Interesting example natural ingredients have been used for skin care in India for ages. Nihar, Chandrika, Medimix and Meera in Shampoo category are examples of brands which have been effectively using this practice. Understanding cultural influence on consumers would depend, to a large measure, on the product-service need being addressed, the geographic area under consideration, and the complexities of the unique Indian Value paradigms. The multilingual nature of the market and the unique cultural flavour of the consumer calls for local thinking with fruits of global technology. Conclusion: The firms indicated that cultural various exerted varied influence on marketing strategies used by the multinational firms, which called for the use of specific strategies for particular situations and influences. The firms also indicated that marketing strategies were adopted to purposely overcome competition for more market shares and improved sales, and to stand the test of the ever-changing trends as it affected demand and supply. Some of the strategies included the use of quality products, frequent advertisement in local media, ideal pricing structure, reward sales promotion and new product innovations. Finally, all firms had adopted some useful remedies to overcome cultural influences affecting their operations and the remedies are product adaptation, promotional adaptation and new product innovation. REFERENCES: Berham, J. 1969. Some Patterns in the Rise of Multinational Enterprises. John Wiley & Sons, New York. Busch, P.S. & M.J. Houston 1985. Marketing: Strategic Foundations. R.D. Irwin, Homewood, Illinois. Hawkins D.I., R.J. Best & K.A. Coney 1983. Consumer Behavior: Implications forMarketing Strategy. Business Publications, Plano, Texas. Howard, J.A. & J.N. Sheth 1969. The Theory of Buyer Behavior. John Wiley & Sons, New York. Kolde, E.J. 1968. International Business Enterprise Englewood Cliffs, PrenticeHall New Jersey. McCarthy, E.J. & W. E. Perreault, Jr. 1984. Basic Marketing: A Managerial Approach. 8th Edition. R.D. Irwin, Homewood, Illinois.

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 Nwokoye, N.C. 1981. Modern Marketing in Nigeria. Macmillan Press, London. Pride, W.M. & O.C. Ferrell 1985. Marketing: Basic Concepts and Decisions. Houghton Mifflin, Boston. Stopford, J.M. & L.T. Wells, Jr. 1972. Managing the Multinational Enterprises. Basic Books, New York. Umoren, U.E. 1996. Anthropology Contextualised in Nigerian Peoples and Culture. An Unpublished Monograph, RSUST, Port Harcourt.

A COMPARATIVE STUDY ON CONSUMER ATTITUDE TOWARDS BRU AND NESCAF K.RADHAMANI, Asst.Professor, Department of Management Studies, PKR Arts College for Women, Gobichettipalayam, Erode. P.S.AMUDHA, Asst.Professor, Department of Management Studies, PKR Arts College for Women Gobichettipalayam, Erode. ABSTRACT: The study examined the product, band, consumer & customer buying behavior and attitude in instant food products. Marketing is indeed an ancient art, and it has been practiced in one form or the other. Since, the day of Adam and Eve. The study entitled A comparative study on consumer attitude towards BRU and NESCAF with special reference to Erode, tries to find out the customers preference to these brands. The sample size considered for the study is 100. On the basis of convenient sampling method, the data has been collected from the customers through questionnaire. Findings have been given in this report after analyzing and interpreting the data collected using the Simple percentage, Likert scale, Chi-square test and suggestions were made. 1.0 INTRODUCTION: Today Instant food products (IFPS) occupy a legitimate shelf space in stores and super markets in India. High Quality food choice is provided by competing companies through Instant food products. The life style of people have been changed, millions of upper middle class and high income groups are consumers or potential consumers of instant food products. Indian consumers are showing a strong interest in new, good quality instant food products. As a result, a number of Indian companies have given birth to new brands of instant food products coupled with the entry of many multinational corporations. A good future awaits for these products because, people especially younger generation aspire for western living style and standards. In the food product business, educating customer is the key and any purchase decision is likely to be influenced by family members, friends, doctors, advertisements etc. Food processing industry in India has obtained significant position in recent years. BRU: BRU was launched in 1969, created history in the first year of launch by growing to a record market share of 21% ever since, it has grown from strength to strength. BRU has been instrumental in virtually creating the entire Instant coffee category as it exists today. It has been at the fore front of most innovations in the instant coffee category. Whether in coffeechicory blends, refill packaging, vending operations, or more recently, the low-unit-price packs. The BRU franchise also includes the BRU Roast and Ground, Indias most popular

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Roast and Ground coffee brand, and BRU Malabar Roast and Ground which is available in select geographies. Barr's IRN-BRU was created in Glasgow, Scotland in 1901. NESCAF: The worlds first instant coffee was invented by Nestl in the spring of 1937 and named NESCAF. In 1930, Nestles chairman was approached by an Brazilian coffee institute and asked to develop coffee that was soluble in hot water and retained its flavour. At the time, Brazil had a huge coffee surplus and it was felt that coffee consumption would increase if a new product was developed. While there were some forms of crystallized or liquid coffee on the market, they were not readily soluble and fasted horrible. After seven years of pain in taking research at the Nestl research centre laboratory in Switzerland, scientist Max Mort Genthaler finally achieved the desire results, and on 1 April 1938, NESCAF was launched in Switzerland. STATEMENT OF PROBLEM: Dropping sales, increased product or service complaints and new, or renewed, competition in the marketplace can all necessitate a hard look at the reasons behind trends related to consumer perceptions and attitudes. Most consumers belong to a family group. The family can exert considerable influence in the shaping the patterns of consumption and indicating the decision making roles. OBJECTIVES: v To find out the attitude of consumer preference towards BRU and NESCAF. v To find out the buying behaviour of the customer. v To analyze the satisfaction level of customers towards the products. LITERATURE REVIEW: Several studies measuring customer attitude towards marketing mix have been carried out in industries and emerging nations (Gaski and Etzel, 1986; Wee and Chan, 1989; Chan et al., Bhuian and Kim, 1999; Lysonski et al., 2003; Chan and Cui, 2004). A significant study in measuring consumer sentiments towards marketing practices was carried out by Gaski and Etzel (1986,2005).Other researchers Wee and Chan (1989) found that the pricing strategies and advertising appeals must also be adapted to suit the customers needs and tastes. The influence of demographic variables on attitudes towards marketing was found that the less educated, the lower income group, and those with no jobs or less privileged jobs were most hostile towards marketing. Bhuian and Kim (1999) examined the influence of country origin toward marketing mix element and found that consumers prefer most the marketing mix element related to the product of Japan and USA. More recently, Laboissiere et al. (2007), employed conjoint analysis to determine the effect of packaging attributes on consumer expected liking and purchase intention of passion fruit juice. One hundred and twenty consumers evaluated twelve prototypes for expected liking and purchase intention. The results suggested that information about benefits of processing technologies such as high hydrostatic pressure presented on the package played an important role on consumer intention to purchase.

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Theoretical model: Based on the above discussed variables the following theoretical model was proposed.

RESEARCH METHODOLOGY: Research in common parlance refers to search for knowledge. It can be defined as a scientific and systematic search for pertinent information on a specific topic. Infect research is an act of scientific investigation. The advanced learners dictionary of current English lays down the meaning of research as a careful investigation or inquiry especially through search for new facts in any branch of knowledge. Research is thus a systematized effort to gain new knowledge. Research methodology is a way to systematically solve the research problem. It may be understood as a science of studying how research is done scientifically. DESCRIPTIVE RESEARCH: Descriptive research is those studies which are concerned with describing the characteristics of a particular individual or a group. SAMPLING: Sampling may be The selection of some part of an aggregate or totality on the basis of which a judgment on inference about the aggregate or totality is made. SAMPLING DESIGN: It refers to the technique or the procedure the researcher would adopt in selecting items for the sample. The sample design should be reliable and appropriate for the study, which is to be conducted. SAMPLING TECHNIQUE: Convenience sampling technique is used here. When population elements are selected of inclusive in the sample based on the ease of access, it can be called as convenience sampling. SAMPLE SIZE: The sample size should not be too small or too large, if so more error will occur or more time will be consumed. Hence an optimum size of 100 was taken.

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SIMPLE PERCENTAGE: Simple percentage was calculated based on the data collection from the respondent is commonly used method. Simple percentage (No. of respondents / Total number of the respondents)*100. CHI-SQUARE TEST: The 2 test is one of the simplest and most widely used parametric as well as non-parametric test in statistical work. The symbol 2 is the Greek letter CHI, the Chi-square test was first used by Karl Pearson. The Chi-square value is often used to judge the significance of population variance i.e., we can use the test to judge if a random sample has been drawn = (O from a normal population with mean and a specified variance. Formula: 2 E)2 / E, Calculate the expected frequencies. In general the expected frequency for any cell can be calculate from the following equation E (RT*CT) / N, E Expected Frequency, RT Row Total, CT Column Total, N Total Number of Observation. Take the difference between observed and expected frequencies and obtain the square of three differences (OE)2. Divide the value of (O-E) 2 obtained in step 2 by the respective expected frequency and obtained the total [ (O-E)2 / E]. Table No.1 Distribution Factors According To Social and Economical Backgrounds Social backgrounds of the respondents Age Group Below Number of respondents BRU NESCAFE 25 21 21.88 25-30 35.29 40.63 23 12 Number of respondents BRU NESCAFE 16 13 52 19 Number of respondents BRU NESCAFE 40 11 28 19 Number of respondents BRU 23 26 19 NESCAFE 14 10 08 BRU 33.82 38.24 27.94 percentage out of total BRU NESCAFE 07 30.88 24 13 33.82 37.50

Above 30 Gender Male Female Marital Status Married Single Education total SSLC HSC Degree Income Below Rs.3,000 03 Rs.3,000-Rs.6,000 28.13

percentage out of total BRU NESCAFE 23.53 40.63 76.47 59.37 percentage out of total BRU NESCAFE 58.82 34.38 41.18 65.63 percentage out of NESCAFE 43.75 31.25 25.00

Number of respondents BRU NESCAFE 04 17 09

percentage out of total BRU NESCAFE 4.41 12.50 25.00

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Rs.6,000-Rs.10,000 Above Rs.10,000 21

27

07 12

39.71 30.88

21.88 37.50

BRU: The above table shows that 30.88% of the respondents belong to the age group of below 25, 35.29% of the respondents are of 25-30 years, 33.82% of the respondents are in above 30 years age. The table shows that 23.53% of the respondents are male and 76.47% of the respondents are female. The table depicts that 58.82% of the respondents are married and 41.18% of the respondents are single. The table shows that 33.82% of the respondents have completed SSLC, 38.24% of the respondents cleared HSC and 27.94% of the respondents hold a degree. The table shows that 4.41% of the respondents earn below Rs.3000, 25% of the respondents fact under the category of Rs.3000-Rs.6000, 39.71% of the respondents earn Rs.6000- Rs.10000 and 30.88% of the respondents earn above Rs.10000. NESCAF: The above table shows that 21.88% of the respondents belong to the age group of below 25, 40.63% of the respondents are of 25-30 years, 37.50% of the respondents are in above 30 years age. The table shows that 40.63% of the respondents are male and 59.37% of the respondents are female. The table depicts that 34.38% of the respondents are married and 65.63% of the respondents are single. The table shows that 43.75% of the respondents have completed SSLC, 31.25% of the respondents cleared HSC and 25% of the respondents hold a degree. The above table shows that 12.5% of the respondents earn below Rs.3000, 28.13% of the respondents fact under the category of Rs.3000- Rs.6000, 21.88% of the respondents earn Rs.6000- Rs.10000 and 37.50% of the respondents earn above Rs.10000. CHI-SQUARE BRU Ho-There is no significant relationship between the family income and frequency of purchasing the product. Ha-There is significant relationship between the family income and frequency of purchasing the product Monthly and Weekly Monthly twice Total occasionally Up to 6000 05 05 10 20 6000-10000 06 07 14 27 Above 10000 07 05 09 21 Total 18 17 33 68 Degrees of freedom = (r -1) (c 1) = (2-1) (2-1) = 1. The table value of 2 for the 1degrees of freedom at 5 percent level of significance is 3.841. The calculated value of 2 is 0.0239 which is less than the table value. Hence, the result of experiment does not support the hypothesis. So, there is no significant relationship between the family income and frequency of purchasing the product. NESCAF Ho- There is no significant relationship between the family income and frequency of purchasing the product. Ha- There is significant relationship between the family income and frequency of purchasing the product.

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Weekly

Upto-3000 01 01 01 04 3000-6000 03 01 02 08 6000-10000 02 01 01 07 Less than 05 04 01 03 13 10000 Total 11 10 04 07 32 Degrees of freedom = (r -1) (c 1) = (2-1) (2-1) = 1. 5% level of significance =3.841. The calculated value is much less than the table value. Hence, the result of experiment does not support the hypothesis. There is no significant relationship between the family income frequency of purchasing. BRU Ho = There is no significant relationship between the age and the taste of reference. Ha= There is significant relationship between the age and the taste of reference. Below 25 25-30 Above 30 Total Strong 07 08 07 22 Light 09 11 11 31 Black Coffee 02 01 02 05 Sugarless Coffee 03 04 03 10 Total 21 24 23 68 Degrees of Freedom = (r-1) (c-1) = 1 x 1 = 1. 5% level of significance = 3.841. The calculated value is lesser than the table value. Hence, the result of the experiment does not support the hypothesis. So, there is no significant relationship between age and the taste of the preference. NESCAF Ho = There is no significant relationship between the age and the taste of reference. Ha = There is significant relationship between the age and the taste of reference. Below 25 25-30 Above 30 Total Strong 3 3 4 10 Light 2 7 2 11 Black Coffee 2 1 2 05 Sugarless Coffee 1 2 3 06 Total 08 13 11 32 Degrees of freedom = (r -1) (c 1) = (2-1) (2-1) = 1. 5% level of significance = 3.841. The calculated value is lesser than the table value. Hence, the result of the experiment does not support the hypothesis. So, we conclude that, there is no significant relationship between the age and the taste of preference. SUGGESTIONS & CONCLUSION: The following suggestions were made after the study. The nutrition contents of the product such as Vitamins, Minerals may be included. Slowly natural foods will occupy a place so; the product can be converted into coffee-cum-health products. The awareness of the product can be made using advertising. Advertisements should be changed once in four months. Special flavours can be added to increase the sales. The packages should be made in a fashion that they are easily decayable. All the customers needs and preferences are not same. They vary due to a number of factors. The study analyzed the preference of customers

Monthly twice 01 02 03

Monthly

Occasionally

Total

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to instant food products specially referring BRU and NESCAF. Better product features with adequate price and packing will help these products to have competitive advantage. REFERENCE: Principles of Marketing, Philip Kotler & Gary Armstrong Prentice Hall of India Private Ltd., - 1999. Modern Marketing, R.N.S.Pillai, Bagavathi S.Chand & Company-2005. Research Methodology, C.R.Kothari WISHWA PRAKASHAN 2003. PERCEPTION AND CONSUMER BEHAVIOUR TOWARS PRIVATE LABELS AT RETAIL OUTLETS IN MADURAI CITY Mrs. C.R.MATHURAVALLI, Asst.Professor, Department of Management Studies, NMS.S.Vellaichamy Nadar College, Madurai - 625019 Dr.S.SAKTHIVEL RANI, Assistant Professor, Department of Business Administration, Kalasalingam University. Krishnan Kovil ABSTRACT Retail, one of Indias upcoming industries, has presently emerged as the most dynamic and fast paced industries of recent times with several players entering the market. With the increasing of organized retailing in manifold in the urban and semi-urban areas, it is necessitated the retailer to brand its retail outlet. In such a scenario how the competing retail outlets are going to differentiate their services towards the consumers, only by branding. One of the routes to succeed in retail business is to focus on own brands / store brands / private label brands (PLs) ; as the financials of retail firms are very sensitive to margins on the brands they sell. Private Labels are product brands that are owned by the retailer instead of entity that produces the product. Private Labels are getting retailer attention due to higher profit margin on such products, compared with branded alternatives. This research is mainly focused to find out the market potential and preference of Private Labels among consumers in Madurai city. The research also aims at finding various reasons that influences consumers purchase decisions on the private labels .A detailed study is conducted from the views of customers & collected by conducting a survey from Madurai region with the help of structured questionnaire. The collected data is analyzed using statistical tools and the study reveals that most of the consumers have good perception towards the private brands. This study will help the retail outlets to identify the buyers behavior and to design their marketing strategy accordingly and also it gives an improved service quality in future scenario. KEYWORDS Retailing, Private Labels, Consumer Behavior, Satisfaction. INTRODUCTION Indian Retail sector is vibrant and has become one of the worlds top 5 global retail destinations. It is estimated that the total number of shopping malls will grow at the rate of 18.9% by 2015..Private label brands are brands owned, controlled, and sold exclusively by a retailer (Baltas, 1997). The concept of private label brands was popularized by large corporate supermarket chains which expanded their private label business at the expense of some heavily advertised national brands and items (Stern, 1966).India has not witnessed Private label brands before the liberalization of Indian economy in 1990s.Indian retail

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sector was unorganized and customers were relying on unorganized retailers almost for all the products. With the growth of private label brands, national brands are grabbing the share from the national brands. Private labels are not only low priced but are also high on quality and for the retailers its high margin .Growth of organized retail chain in India has also facilitated the growth of private label brands in India. Indian economy has seen average growth rate of more than seven percent since1994 and putting purchasing power in hands of customer. Though, initial growth of private label brands in India has been limited to certain categories like grocery and apparel, it is slowly expanding into other categories as well. PRIVATE LABEL Private Label products or services are typically those manufactured or provided by one company for offer under another companys brand. Private Label goods and services are available in a wide range of industries from food to cosmetics to web hosting. They are often positioned as lower cost alternatives to regional, national or international brands, although recently some private label brands have been positioned as premium brands to compete with existing name brands. Private Label describes products manufactured for sale under a specific retailers brand. They are often designed to compete against branded products, offering customers a cheaper alternative to national brands. Though the public generally used to see them as low cost imitations of branded products, Private Labels have overcome this reputation and achieved significant growth in recent years. NEED FOR THE STUDY This study has conducted to identify the prospective market segments and the existing market potential in those segments. This study will help the store to identify the factor for which their brand is maintaining its position in the market and the factor need to be improved. REVIEW OF LITERATURE Peter et.al (2002), an empirical study in the quality of private label products and their market shares have grown to such an extent that most consumer goods manufacturers, brand leaders included, cannot afford to ignore them. The article concludes that performance of private labels plays a very important role in the market. Dr. Mario et.al ( 2005), study found that the odds of a consumer being highly pleased with a store label product when they are supportive of the quality of private labels, is more than the odds of the consumer being highly satisfied when purchasing private label products simply because they are priced significantly lower than manufacturer brands. Alison Fraser (2009), the study examines the Role of Store Image and customers attitude towards private labels. The research concludes that the findings also suggest that store image should be incorporated in models predicting consumer proneness to private labels. Nirmalya Kumar, et.al (2007), found that retailers have become more powerful and global, they have increasingly focused on their own brands at the expense of manufacturer brands. Rather than simply selling on price, retailers have transformed private labels into brands. Kusum et.al (2003), the study reveals that a negative intrinsic relationship between store brand and national brand deal usage. Overall, our results suggest a competitive advantage for store brands. Store brands can attract many consumers by increasing their perceived

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quality. Manufacturers would then have a hard time attracting back these consumers even if they increase deal savings. OBJECTIVES In this competitive world where global and domestic players are fighting face to face, it is necessary to find out the factor which influences consumers purchase decisions on the private labels and to analyze the consumer perception towards Private Labels. METHODOLOGY: The research is of descriptive nature, based on the primary data but secondary data has also been collected from various sources as per the requirement. The target population of the study included customers who prefer to shop at retail outlets in Madurai such as Reliance, More, Spencers and Shri Kannan. A Non-probability, convenience sampling technique was used to administer a consumer survey.To obtain information, a structured questionnaire was formulate and a Likert scale ranging from Most Unimportant(1) to Most Important(5) was related to important of different factors purchase decision of the respondents are analysed by using Analysis of Variance (ANOVA). ANALYSIS & INTERPRETATION Profile of the Respondents: In total 64 percent of the total consumers are female whereas the remaining 36 percent are male. In total 50 percent of the total consumers belong to 16-25 years. It is followed by 26 35 years, 36 45 years, 46 55 years and 56-65 years which constitute 28, 11, 5,6 percent respectively. The analysis shows that the respondents with educational level upto graduation and above graduation level accounted for 67 percent while the respondents of 33 percent belong to low level education. The consumer visiting retail outlets was inversely with their family income ,thus about 71 percent of the consumers with family income more than Rs. 30,000 per month, followed by the consumers who falls in between Rs10,000 to 20,000 and less than Rs10,000 which constitute 25 and 4 percent respectively. TABLE: 1 Importance of factors considered by the consumer while taking purchase decision of private labels: Most Over Most S.N Unimp Unim Mean all Factors Importa Important Neutral o ortant porta Rating positi nt nt on 1 Quality 157(62.8 75(30) 18(7.20) 1.56 I 0) 2 Variety of 20(8.00 69(27.60) 91(36.40) 70(28.00) 0.84 IV products ) 3 Price 69(27.60) 142(56.80) 32(12.80) 7(2.80) 1.09 III 4 Value for 104(41.6 39(15.60) 1.26 II 107(42.80) money 0) 5 Display of 21(8.40 7(2.80 76(30.40) 114(45.60) 32(12.80) 0.92 IV products ) ) 6 Best service 40(16.0 7(2.80 by 57(22.80) 86(34.40) 60(24.00) 0.58 V 0) ) employees 7. Ambience 62(24.8 28(11. 21(8.40) 41(16.40) 98(39.20) -0.14 IX 0) 20) 8. Need Based 115(46) 66(26.40) 48(19.20) 21(8.40 1.10 III

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9. 10. 11. 12.

Purchase Advertiseme nt Packaging Discount Socio economical status F- Ratio C.D

33(13.20) 47(18.80 149(59.6 0) 49(19.60)

84(33.60) 90(36.00) 89(35.60) 90(36.00)

67(26.80) 48(19.20) 6(2.40) 53(21.20)

) 59(23.6 0) 54(21.6 0) 6(2.40) 58(23.2 0)

7(2.80 ) 11(4.4 0) -

0.31 0.43 1.52 0.52 11.09 0.1189

VII VI I V

From the above table some factors were identified which influence the decision making for purchase by the consumers and those factors were rated on the level of importance .From the a table, we inferred that 63% of the consumer considered the quality of products as most important followed by 60% of the respondents in favor of discount .46 % feel convenient to purchase according to their need based purchase. The 57% of the consumer said that the price is the important and 46 % of them considered display of products, followed by value for money and wide range of products which constitute 43 and 36 percent respectively as important factors while taking purchase decision of private labels. The mean rating of factors in terms of importance came to be significantly the highest for quality, discount followed by value for money. The 3rd rating factors were price and need-based purchases, while there were wide range of products and display of products which acquired 4th level of importance. The next 5th level of importance was secured by socio economic status and best service by employees. TABLE: 2 Consumer Perception towards future purchase of PLB S.No Particulars Frequency Percentage 1. Yes 175 70 2. No 75 30 TOTAL 250 100 From the table we can understand that 70 percent of the consumers believe and also recommend others to purchase private label products FINDINGS In total majority 50 percent of the total consumers belong to 16-25 years and 64 percent of the total consumers are female. The highest proportion of the consumers are relatively 67 percent of graduation and more than level of education and 71 percent of the consumers with family income more than Rs. 30,000 per month visiting retail outlets. Thus quality and discount emerged as the most important factors, followed by price and displays of products are the other important factors influencing consumer purchase decision of private labels. Majority of the consumer are having good perception toward private labels. CONCLUSION AND MANAGERIAL IMPLICATION The study shows that private labels can be positioned as premium quality products with price levels ranging from marginally below to above prices of category- leading manufacturer brands. Thus present study come to the conclusion that private labels are able to position themselves significantly in the mind of customers and are gaining acceptance.

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Growth in specific private label segments like food and grocery segments are growing at a faster rate. While, the future of private labels is dependent on the retailers ability to overcome key challenges such as adaptive supply chain practices, quality infrastructure, accelerated growth in new categories, From the study, it was found that good quality, discount, price, large variety are the most influencing factor which drive the consumer to buy the private label brand. Therefore, these are the factors which should be considered while coming with the future private brand. On the hand, retailers can position their Private Labels based on pure value for money. Private label communication strategies have successfully reached large proportion of customers and this in return it will help the retail stores to increase sales. REFERENCES: Ailawadi, Kusum L., Karen Gedenk, Christain Lutzky, and ScottA. Neslin (2007), Decomposition of the Sales Impact ofPromotion-Induced Stockpiling,Journal of Marketing Research, 44 (August), 45067. Baltas, G., 1997, Determinants of store brand choice: A behavioural analysis, Journal of Product and Brand Management, Vol. 6, pp. 315-324. Stern, L. (1966). The new world of private brands. California Management Review, 8(3), 43-50. Kusum L. Ailawadi, (2003)Dartmouth College - Tuck School of Business, Karen Gedenk, University of Cologne Scott Neslin Tuck School of Business at Dartmouth http://www.rncos.com/Report/IM112.htm TOURISTS PERCEPTION TOWARDS NILGIRI DISTRICT Dr. G. Santhiyavalli, Associate professor M. Usharani, Ph. D Research Scholar Department of Commerce, Avinashilingam Institute for Home Science and Higher Education for Women Coimbatore-43 Abstract Tourism is one of the most rapidly growing industries in the world and has the unique advantage of generating employment for skilled, semi-skilled and unskilled persons. India is one of the most potential tourism markets in the world and provides employment to youth, opportunity to artistes, protection to monuments, commerce to traders, facilities to public, foreign exchange to Government and fraternity between States. Tourism contributes 6.4 percent to the national GDP and more than 8 per cent of the total employment in India. The Foreign Tourist Arrivals (FTAs) in India during July 2012 were 5.25 lakhs, and foreign exchange earnings at Rs. 8389 crores. The present paper focuses on studying the purpose of tourists visiting the Nilgiri district, problems faced by them and their satisfaction level .The study is descriptive in nature and based on primary data. The collected data were analyzed using the tools namely percentage analysis, ranking technique, mean score value, likerts scaling technique and chi-square test. It can be concluded from the study that, the Department of Tourism of Tamil Nadu Government and Nilgiri tourism department have to take efforts to improve the tourists amenities and to provide more support services to strengthen the tourism industry Key words: Tourism, tourists and perception.

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INTRODUCTION Tourism is one of the most rapidly growing industries in the world and has the unique advantage of generating employment for skilled, semi-skilled and unskilled persons. The industry plays an important role in economic development and creation of jobs in several countries. India is one of the most potential tourism markets in the world and provides employment to youth, opportunity to artistes, protection to monuments, commerce to traders, facilities to public, foreign exchange to Government and fraternity between States. It is the only industry that earns foreign exchange without exporting anything except ideas and experiences. In certain parts of India, tourism is the only income generating industry for instance in Kashmir, Himachal Pradesh and Goa. Tourism contributes 6.4 percent to the national GDP and more than 8 per cent of the total employment in India. The Foreign Tourist Arrivals (FTAs) in India during July 2012 were 5.25 lakhs, and foreign exchange earnings at Rs. 8389 crores. The Ministry of Tourism is the nodal agency for the formulation of national policies and programmes and for the co-ordination of activities of various Central Government Agencies, State Governments/UTs and the Private Sector for the development and promotion of tourism in the country. Tamil Nadu is situated in Southern part of India and has vast tourism potential. It presents a multitude of choice of tourists picturesque hill stations, historical, religious, pilgrims centre, cultural and archeological centres, magnificent temple towers, monuments, waterfalls, seaside resorts and wonderful wildlife sanctuaries etc. Nilgiri is a beautiful range of mountains in the western ghats of India stretching across the states of Tamil Nadu, Karnataka and Kerala in South India. The world famous hill station Ooty also known as the Queen of Hills is situated in the Nilgiri District. The Nilgiris, most popular hill resort of the south has a number of tourists attraction, which includes Botanical Garden, Boat House, Doddabetta, Rose Garden, Dolphins Nose, Kodanad viewpoint, Mudumalai wildlife sanctuary, Pykara falls, Laws falls and Sims park. REVIEW OF LITERATURE Shankari, L. (2007)1 has outlined the significance of medical tourism and also explored the possibilities of enhancing foreign exchange of India by attracting foreign patients to our country by offering them quality healthcare packages at incredibly low costs, coupled with tourism. The author concluded that, the Indian medical tourism industry should work more closely with the government departments to spread awareness and remove hurdles particularly those pertaining to travel and, furthermore, for getting accreditation of various hospitals to build up perception of quality among the foreign tourists. Ganesan, G. and Chandrasekar Rao, K. (2006)2 in their study Performance of Tamil Nadu tourism industry has emphasized the economic significance of tourism marketing, recording to them TTDC played a major pioneering and catalytic role in the growth of tourism. It has also matured into a front rank leader maintaining profitability. The corporations major contribution has been in the field of infrastructure and promotion. Jayasheela (2006)3 in her paper Indias Tourism Industry take-off round the corner focused with the scenario of tourism today with special reference to Indian economy. She has examined that the scope for alternative tourism or newer forms of tourism like health tourism, rural tourism and e-tourism in the country. Finally, she concluded that there must be a consistent, efficient and co-ordinated encouragement and attention to travel and tourism sector to ensure that it will have the smoothest and safest take-off.

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Jayasheela, V. Basil Hans and Biradar, R.R. (2006)4 in their study stated that, India has to gear up its resources to face competition both by developed and developing countries. No doubt it has some favourable factors in its geographical size and diversity, famous food and beverage industry etc. but trained managerial expertise and sufficient capital to invest is woefully lacking. So the problems of low share in world tourism, inadequate capacity, poor infrastructure etc., are glaring. The new tourism policy of 2000 tries to address these problems both directly and indirectly. The need for a holistic approach to tourism in India is however, felt that with fresh challenges of the new millennium and has concluded, the need to give consistent, efficient and coordinated encouragement and attention to the travel and tourism sector to give the required resilience in the coming years and millennium. Selvam, V. (2006)5 in his article Medical tourism The next big opportunity to prosperity felt that the Indian health care industry should work more closely with the industry chambers and various government departments to spread the awareness and remove hurdles particularly those pertaining to travel and get accreditation for various hospitals to build up perception of quality among the foreign tourists. STATEMENT OF THE PROBLEM Among the various tourist spots in Tamil Nadu, the Nilgiris is one of the most attractive places for tourists. The hill station attracts many tourists as it has a good climate, natural scenes and bio diversity. Large numbers of domestic and foreign tourists are visiting the tourist spots in Nilgiri District. In summer season there are many events and festivals conducted every year by the District Administration, the Department of Horticulture and the Department of Tourism in Nilgiri District. The present study mainly focused on the tourists visiting the Nilgiri District in summer season, problems if any faced by them and their perception regarding their visit to Nilgiri District. OBJECTIVES OF THE STUDY The following are the objectives of the present study 1. To know the purpose of tourists visiting the Nilgiri District. 2. To highlight the problems and needs of the tourists in their visit to the Nilgiri District. 3. To understand their level of satisfaction with reference to their tour to Nilgiri District. LIMITATIONS OF THE STUDY 1. The current study is a micro study, covering tourists of Nilgiri District coming only in summer season. 2. Only the Nilgiri District has been selected as the area of study. 3. The study was made on the basis of questionnaire survey, so limitations of questionnaire may creep in study. RESEARCH METHODOLOGY The study is descriptive in nature and based on primary data. A survey was conducted among 250 respondents who are visiting the various tourist spots in the Nilgiri District through a structured questionnaire during the months of April to May 2012. The collected data were analyzed using the tools namely percentage analysis, ranking technique, mean score value, likerts scaling technique and chi-square test.

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RESULTS AND DISCUSSIONS Table 1 Socio-economic profile of the respondents Number of respondents S.No. 1. Factors Number (250) Percentage (%)

Age (in years) Upto 20 63 25.2 20 40 108 43.2 40 60 41 16.4 Above 60 38 15.2 2. Gender Male 153 61.2 Female 97 38.8 3. Marital status Married 102 40.8 Unmarried 148 59.2 4. Educational qualification Not studied 31 12.4 Higher secondary 49 19.6 Graduate 47 18.8 Post graduate 66 26.4 Diploma holder 42 16.7 Professional 42 6.1 5. Occupational status Business 26 10.4 Profession 10 4.2 Agriculturist 22 8.6 Student 56 22.4 Housewife 28 11.2 Employee 108 43.2 6. Annual income of the family Upto Rs.1 lakh 76 30.4 Rs.1 lakh 3 lakhs 102 40.8 Rs.3 lakhs 5 lakhs 43 17.3 Above Rs.5 lakhs 29 11.5 Source : Survey data Table 1 reveals that, 43.2 per cent of the respondents were in the age group of 20 40 years, 61.2 per cent of them were male and 59.2 per cent of them were unmarried. On the whole, 87.6 per cent of the respondents were literate. The table further revealed that 26.4 per cent of the respondents were post graduates. 43.2 per cent of the respondents were employed and 40.8 per cent of them have family annual income between Rs. 1 lakhs and Rs.3 lakhs.

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Table 2 Sources of information about Nilgiri district Number of respondents Particulars Number Travel agent Guide book Friends and relatives Advertisement TTDC offices Websites TOTAL 24 16 89 75 17 29 250 Percentage 9.6 6.4 35.6 30.0 6.8 11.6 100

Source : Survey data. Table 2 reveals that, 35.6 per cent of the respondents collected information about places of visit and other informations relating to their travel and stay at Nilgiri District through their friends and relatives. It could be further inferred from the table that only a very low per cent of the respondents depended on TTDC office and Guide book. Table 3 Purpose of touring in Nilgiri district Number of respondents Particulars Number Percentage For relaxation 58 23.2 Enjoying pleasant weather 54 21.6 Enjoying the flower show 39 15.6 Enjoying scenic beauty 36 14.4 Part of education trip 27 10.8 Part of business trip 22 8.8 Providing an exposure to the children 14 5.6 TOTAL Source : Survey data. 250 100

The table 3 reveals that 23.2 per cent of the respondents had taken up tour in Nilgiri District for the purpose of relaxation, 21.6 per cent of them preferred Nilgiri District for enjoying the pleasant weather, 15.6 per cent of them interested in touring to Nilgiri to enjoy flower show events, whereas 14.4 per cent of them visit Nilgiris to enjoy scenic beauty. Others preferred touring to Nilgiri District as part of their education trip, or their business trip and to provide an exposure to their children. Table 4 Preferred season of tour to Nilgiri district Number of respondents Particulars Number January and February April to June September and October 45 137 26 Percentage 18.0 54.8 10.4

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November and December TOTAL Source : Survey data.

42 250

16.8 100

It is clear from the above table that, 54.8 per cent of the respondents preferred summer season starting from April to June to tour Nilgiri District, 18 per cent of them selected the months of January and February to go on tour to Nilgiri District and 16.8 per cent of them choose the period of November and December. 10.4 per cent of them selected the second season starting from September and October for touring to the Nilgiri District. Table 5 Frequency of tour to Nilgiri district Number of respondents Particulars Number Touring Nilgiris for the first time Visiting once in a year Visiting twice in a year Visiting thrice in a year TOTAL Plan to visit again Not interested in coming back TOTAL Source : Survey data. It is understood from the above table 5 that, 58.4 per cent of the respondents visited Nilgiri District frequently and the remaining 41.6 per cent of them undertook tour to Nilgiris for the first time. Besides majority of the respondents 94.8 per cent, plan to visit again the Nilgiri District. Table 6 Mode of travel preferred by the respondents Number of respondents Type of travel Number To reach Nilgiri District Train Road transport (bus, car, two-wheeler) TOTAL To visit places in Nilgiri District Own vehicle (car, two-wheeler) Percentage 104 39 48 59 15.6 19.2 23.6 Percentage 41.6

146 250

58.4 100

237 13 250

94.8 5.2 100

71 179 250

28.4 71.6 100

73

29.2

76

Vehicles of travel agency Public transport Hiring taxi TOTAL Source : Survey data.

99 41 37 250

39.6 16.4 14.8 100

Table 6 indicates that 71.6 per cent of the respondents used road transportation to reach Nilgiri District. 28.4 per cent of them preferred mountain train to reach the Nilgiri District to enjoy the journey by oldest mountain train operated through steam. 39.6 per cent of them visited places in Nilgiri District by travel through agency vehicles, whereas 29.2 per cent of them preferred their own vehicle to visit the places. Table 7 Period of stay by tourists to Nilgiri district Number of respondents Number of days stay in Nilgiri District Number No stay Staying for One day Two days Three days More than three days TOTAL 33 33 50 49 85 250 13.2 20.0 19.6 34.0 100 Percentage 13.2

217

86.8

Source : Survey data. From the table 7 it is clear that 86.8 per cent of the respondents stayed in Nilgiri District during their tour and rest of them were on one day trip to the Nilgiri District. 20 per cent of the respondents stayed for two days, 34 per cent of them preferred to stay at Nilgiri District for more than three days. Table 8 Place of accommodation preferred by the respondents Number of respondents Particulars Number Hotels Youth hostel TTDC lodge Resorts Cottages Relatives house Paying guest Not using accommodation facilities 59 27 25 22 28 33 23 33 Percentage 23.6 10.8 10.0 8.8 11.2 13.2 9.2 13.2

TOTAL 250 100 Source : Survey data. From the table 8 it is revealed that 86.8 per cent of the respondents used the different types of accommodation facilities available in the Nilgiri District such as hotels (23.6 per cent),

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relatives house (13.2 per cent), cottages (11.2 per cent), youth hostel (10.8 per cent), TTDC lodge (10 per cent) and resorts (8.8 per cent). People made one day trip to Nilgiri District they does not use the accommodation facilities available here. Table 9 Purchase of products by the respondents Number of respondents Items purchased Number Tea Homemade chocolates Eucalyptus oil Woolen clothes Bakery products Handicrafts Fruits and vegetables Others (spices) TOTAL Source: Survey data. 50 40 38 28 65 22 49 15 300* Percentage 16.27 13.03 12.38 9.12 21.17 7.17 15.96 4.88 100 * Multiple responses

From the table 9 it is found that, the products preferred by tourists in Nilgiri District include bakery products (21.17 per cent), tea (16.27 per cent), fruits and vegetables (15.96 per cent), homemade chocolates (13.03 per cent) and eucalyptus oil (12.38 per cent). Tourists preferred to purchase the list of products in Nilgiri District also include woolen clothes, handicrafts and spices. Table 10 Ranking the places of tourists attraction Score value Rank Mean Score Value 1933 1634 1622 1495 1392 1257 1198 1097 1065 1057 I II III IV V VI VII VIII IX X 7.73 6.54 6.49 5.98 5.57 5.03 4.79 4.39 4.26 4.23

Places of attraction

Botanical garden Doddabetta Boat house Pykara falls Rose garden Laws falls Mudumalai Wild Life Sanctuary Kodanad View Point Sims Park Dolphines nose Source: Survey data.

From the table 10 it is clear that, the Botanical Garden with a Mean score value of 7.73 is the most attractive place for tourists in Nilgiri District followed by Doddabetta (6.54), boat house (6.49), pykara falls (5.98) and rose garden (5.57).

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Table 11 Satisfaction level of the respondents touring to Nilgiri district Number of respondents Particulars Number Percentage High Moderate Low Total Source : survey data. 153 66 31 250 61.2 26.4 12.4 100

Table 11 indicates that 61.2 per cent of the respondents were satisfied in high level and 26.4 per cent of them satisfied in moderate level and the remaining 12.4 per cent of them made low level of satisfaction during the tour to Nilgiri district. Table 12 Problems faced by the respondents Problems faced by the respondents Traffic congestion Water contamination Poor sanitary condition Lack of security Pollution High entrance fees Exploitation by taxi drivers Difficulty in getting information about TTDC Source: Survey data. Score value 1415 1220 1153 1113 1097 1015 1003 944 Rank I II III IV V VI VII VIII

The study was carried out during peak tourist season in Nilgiri District. Hence, the traffic congestion in all the roads leading to different tourists location was the major problem faced by the tourists as revealed by table 12. Water contamination, poor sanitary conditions, lack of security, high entrance fees and exploitation by taxi drivers were the other problems faced by the tourists respondents. It was noted that some of the respondents were not aware of the office of TTDC at Ooty for getting information.

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Table 13 Attitude of the respondents with reference to facilities available in Nilgiri district Transportatio Parking facility and Food and Accommodation n fee beverage Number of respondents Number of respondents Number of respondents Number of respondents Percentage Percentage Percentage Category Percentage 12 24 19 20 25 Result S S S

Excellent Good Average Poor Very poor

45 43 64 52 46

18 17 26 21 18

60 55 46 47 42 3.18

24 22 18 19 17

63 45 51 42 49 3.12

25 18 20 17 20

30 59 47 51 63 2.77

MSV 2.90 Source: Survey data

Table 13 reveals that the respondents were satisfied with the facilities of accommodation (MSV 3.18), transportation (3.12) and food and beverage (2.90) available in the Nilgiri District. Chi- square Analysis H0 - There is no significant relationship between annual income and season of visit H0 - There is no significant relationship between annual income and level of satisfaction. H0 - There is no significant relationship between annual income and period of stay Table 14 Relationship between annual income and season of visit preferred by the respondents Chi-square value Annual income and preferred season of visit Annual income and level of satisfaction Period of stay and annual income S Significant ; Level of significance 5% From the above table 14 it is found that, the calculated values of 2 is greater than the table values (ie.,)19.18 , 23.04 and 24.05 which are significant at 5 per cent level. Hence, the null hypotheses rejected. It is concluded that there is a significant relationship between annual income and season of visit by the respondents, annual income and level of satisfaction and period of stay and annual income. 19.18 23.04 24.05 Table value 16.9 12.6 21.02 Degrees of freedom 9 6 12

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SUGGESTIONS 1. Widening the parking facilities during the peak season. It could avoid unnecessary traffic snarls in the District. 2. Availability of more boats could make frequent trips for the tourists in summer season. 3. Increasing the availability of medium price accommodation 4. Preference of operators (Brokers) should be controlled or eliminated to ensure the safety of tourists. CONCLUSION Nilgiri District is a popular tourist spot especially during the hot summer months. The mountains covered with lush green vegetation and home to a large variety of wild life are the source of thousands of streams and rivers. It is a paradise for nature lovers and adventure sports enthusiasts. It can be concluded from the study that, the Department of Tourism of Tamil Nadu Government and Nilgiri tourism department can jointly take efforts to improve the tourists amenities and to provide more support services to strengthen the tourism industry. REFERENCES 1. Sankari, L., (2007) Medical tourism in the digital era, Advertising Express, Vol. 7, Issue No. 4, April, pp. 7-11. 2. Ganesan, G., and Chandrasekar Rao, K., (2006) Performance of Tamil Nadu tourism industry, Indian Journal of Marketing, May, pp. 3-9. 3. Jayasheela and Basilhan, V., (2006) Indias Tourism Industry Is a take-off round the corner? Reader in Economics, Mangalore University, Mangalagangothri, Karnataka, India, Asian Economic Review, December 2007, Vol 49, No - 3. 4. Jayasheela, V. Basil Hans and R.R.Biradar, (2006) Tourism development in India : Challenges in the new millennium, Journal of Global Economy, Vol. II, No. 1, January 2006, pp. 55-71. 5. Selvam, V., (2006) Medical tourism The next big opportunity to prosperity, Indian Journal of Marketing, Vol. XXXVI, No. 2, February 2006, pp. 12-14. 6. www.Nilgiris.com 7. www.tamilnadutourism.org

A COMPREHENSIVE SWOT ANALYSIS OF FARMERS MARKET IN TAMIL NADU K.ANURADHA BSc (Ag), MBA (Marketing), (PhD). Assistant Professor, Department of Management Studies, K.S.R. College of Engineering, Thiruchengode637215. Introduction India is the second-largest producer of food in the world and holds the potential of being the biggest on global food and agriculture canvas, according to a Corporate Catalyst India (CCI) survey. India is the largest producer of both fresh fruits and vegetables with an annual output of 32 MT fruits which is about 8% of the worlds fruit production and it is also the second largest producer of vegetables, ranking next to China and accounts for about 15% of the worlds production of vegetables (IBIS World Inc-June 2012). The production of fruits is 775.25 lakh tonnes and vegetables 1,496.07 lakh tonnes in 2011-12 and the production has

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risen up to 3%, according to the Minister of State for Agriculture Harish Rawat (The Hindu in April 24, 2012). The diverse agro-climatic zones in the country make it possible to grow almost all varieties of fresh fruits and vegetables in India. Vegetables are typically grown in India in field conditions predominantly by small and marginal farmers apart from by big farmers. One of the weakest links in the chain of activities concerned with production and disposal of agricultural products is marketing. Besides the farmers, other major sufferers due to lack of proper marketing facilities are the consumers who are deprived of the fresh farm products. The per capita per day need of 125g is not met and fruits are not available for 75% of the population, due to very high cost. Marketing of fruits and vegetables is not like marketing other commodities due to their peculiar characteristics like Perishability, Bulkiness, Varietal differences, etc. Only 2% of the crops are processed into value-added products. Hence, there is a need for maximum commercial utilization of fruits and vegetables. Several successful models exist in India for ensuring a good connect between the farmer and the end user and Farmers Market called by various names like Rythu Bazaar in Andhra Pradesh, Shetkari Bazaar in Maharashtra, Apna Mandi / Kisan Mandi in Punjab and Uzhavar Sandhai in Tamil Nadu, is one such successful model. Farmers Market can prove to be a successful mechanism to improve the lives of the poor farmer who is squeezed between high input costs and low returns and help them sustain their livelihoods and maintain their traditional lifestyles. As such Farmers Market is an exercise to build up farmers orientation towards market and in turn to increase their income and prosperity and meeting the satisfaction level of the consumers through direct sale of the agricultural commodity by the farmers to the consumer at affordable prices. The Farmers Market is considered a Fair Trade Practice by the Fair Trade Organization (FTO). Need For SWOT Analysis of Farmers Market There are about 161 Farmers markets (Uzhavar Sandhai) in Tamil Nadu and many more are to be opened. The scheme of Farmers Market fulfils the ever-increasing demands of the farmers big, small and marginal for a suitable rural market, which serves urban or semi urban centres. Economists, particularly agricultural and rural economists and Sociologists were pleading for long, for markets of this kind of Farmers Market, which eliminates the middlemen and their allurement. While some of the Farmers Markets like the Ottanchathiram and the Hosur Markets are functioning very efficiently and successfully, some are closed and some are being closed. As both the farmers and the consumers are being benefitted profoundly through these markets, the change in government or any policy change should not create changes in the functioning of Farmers Market. A SWOT analysis of Farmers Market could bring about the importance of Farmers Market and identify the weaknesses which could be eliminated and corrected. This analysis could showcase the opportunities available in expanding and increasing the number of Farmers Market and discover the threats that exist due to certain aspects like organized retailing by big corporate chains. Strengths v Farmers Markets which are well organized eliminate the long chain of intermediaries, multiple handling, and loss of quality and decrease the gap between the producer and consumer through direct marketing. v They not only facilitate the proper and smooth disposal of what the farmers produce, but also act as a catalyst to stimulate increased production and satisfy the consumers needs.

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v They help farmers stay in business as well as preserve the natural resources as the Produce sold in Farmers' market is locally grown and very fresh and does not travel far, which saves fossil fuels. v A study says that 68% of the sellers at farmer markets are small and marginal farmers, holding between < 1 acre and 5 acres of land. The scheme makes a difference to over 86% of the farmers lives. v Prices are fixed at 20% above the wholesale rate and 15% below the retail market rate. This is a conscious strategy to lure farmers away from wholesalers, and could be the answer to the woes of common people. v The unorganized women farmers and their participation are enhancing the GDP in India. Nearly one third of the total farmers who flock these markets are women. This substitution of mens role in farming and marketing by women contribute to the total GDP estimation which is underestimated. Farmers' market helps women to achieve empowerment and enhances their living standards. v The Farmers' market follows almost all the key principles of Fair Trade like, Creating opportunities for economically disadvantaged producers, Transparency and accountability, Capacity building, Payment of a fair price without middlemen, Gender Equity, Working conditions, and The environment. The Salient features of Farmers' market are : 1. No under weighing and weights and measures are available with the Market Committees which include farmers and the price fluctuation is monitored through them. 2. Technical assistance is provided for packing and handling of perishable items. 3. The market serves the cultivators of 10-15 villages situated in a radius of 40kms from the City Corporation or municipality and major towns. 4. Cooperative bank branches are set up to encourage thrift and banking habits in the nearby villages. 5. ID cards are provided to the farmer sellers to eliminate other traders entering there. In some places like Hosur they provide electronic ID, by which fraudulent measures could be avoided. 6. Every market has 20-200 small shops or sheds and is open from 5.30 AM to 7 PM daily, including Sundays. 7. Facilities for disposal of garbage is taken care of by Exnora, an environment conscious NGO and the unsold items can be stored for sale on the next day. 8. Bulk purchases are allowed for marriages and other functions with proper proof which improves the turnover. Weaknesses v Farmers Markets face high competition from wholesale markets as the price fixed is 20% higher compared to them. v Shortage of manpower is a major drawback for the effective functioning of them. v There is an allegation that even with strict norms and regulations traders try to enter the markets using fake Identity Cards. v Most of the villages do not have all weather roads and the physical commutation to these villages is difficult. Even though the Government provides free transport, the farmers are not in a position to avail the facility. Non-availability of early morning buses adds to the farmers woes.

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v Reduced arrivals and differing consumer tastes affect the scheme largely. v Cold storages are not available and the storing of unsold produce causes a major problem. v Chennai is the only city that does not have a single Farmers Market and the absence of it is capitalized by organized retailing. v Even with the cost of technology coming down day by day and the tremendous development in it, the impact of the technology is not felt uniformly throughout the country. v Due to lack of efficient functioning of some markets and due to the changes in Government policy, some are forced to close. Opportunities v Farmers markets not only sell produce like vegetables and fruits but also high yielding hybrid seeds, bio fertilizers, etc., for the benefit of farmers, which in turn increases the yield. v Uzhavar Sandhai which began in 1999 is still strong enough to withstand the retail chains opened by corporate firms. v By providing meaningful employment to a large number of agricultural labourers, Farmers' market enhances the status of the whole village economy, which shall go a long way in building a strong nation. v The District administration of Coimbatore has come up with an idea of composting the waste into manure and providing a means of income to Self Help Groups. This initiative could be followed in other markets too. v The massively developed information technology is being utilized by farmers widely. v The Government in this Five Year Plan has taken many measures to improve the agricultural sector. Some of them are listed below: 1. Mr.N.Chattopadhayay, Deputy Director General, Indian Meteorological Department says in order to give millions of farmers, farming information, it has been decided to use SMSs and the Integrated Voice Response System (IVRS) by 2017. 2. It is proposed that interest subvention scheme for providing short term crop loans to farmers at 7 percent interest per annum would be continued in 2012-13. Additional subvention of 3 percent is to be made available for promptly repaying farmers. 3. The target for agricultural credit in 2012-13 has been raised to Rs 575,000 crore (US$ 107.38 B). This represents an increase of Rs 1 lakh crore (US$ 18.67 B) 4. The initiative by the Government is to provide timely and adequate credit support to farmers with particular focus on small and marginal farmers and strive to enable and motivate the farmers to adopt modern technology and improved agricultural practices for increasing agricultural production and productivity. Threats v The challenges faced by the Indian agriculture sector in general are illiteracy, poor socioeconomic conditions, lack of technical knowledge and awareness, small land holdings, modernization leading to barren land and disasters leading to rural poverty, weather-dependent farming systems, low per capita income,

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v v v

underdeveloped physical infrastructures and inefficient bureaucratic procedures associated with the comparatively high cost of agricultural production. Wholesaler and Commission Agents dominate the political stand through lobbying. Corporate chains like Reliance Retail, capitalize in the absence of Farmers market in Chennai called Reliance Fresh Stores, which is also more active in the area of organic farming and contract farming. With the cost of technology coming down, several companies are attempting to create virtual bazaars or agri-portals similar to weekly mandies. The most notable virtual mandies are the e-chaupal by ITC, India Agriline by EID Parry and Dairy Portal by Amul. The Prime Minister's Economic Advisory Council (PMEAC) has recommended doing away with input subsidies to agriculture including free power to farmers, which will badly affect the farming sector

Conclusion The farmers markets can improve in the area of fool-proofing price-setting process, maintaining the market to ensure hygiene, and provide cold storage facilities which the Tamil Nadu Government is working on. Concepts such as these could also reassure the farmers to moderate the fears of organized retail getting too big. Farmers market definitely protects the livelihood of farmers. The changes in the political scenario should not affect the functioning of the Farmers market which forms the basis of many marginal and small farmers. All the developmental activities are not to be disturbed just because of political ego. The areas like transportation, communication, infrastructure, credit facilities, crop insurance, and proper supervision of effective implementation of the schemes are to be given more significance, whoever be in power, keeping in mind the farmers who are the food providers to the nation. REFERENCES 1. Development of Agricultural Marketing in India by Dr. Rajagopal Print well (Jaipur). 2. Agricultural Marketing Enterprises for the Developing World by Abbot, C. John Cambridge University Press. 3. http://agmarknet.nic.in/amrscheme/rythu_bazarmodel.htm 4. http://www.hindu.com/business/Economy 5. http://www.farma.org.uk/ 6. http://en.wikipedia.org/wiki/Farmers'_market. 7. http://www.genderandtrade.org/gtinformation/164143/179758/206744/206745/artic le/ THE POTENTIAL OF RURAL MARKET IN INDIA AN ANALYSIS ABSTRACT Rural India is going to become a biggest market of the world in the near future and it is transforming like anything. Rural marketing as an emerging trend is about to explore possibilities in the rural India. It is a process to hunt a Treasure Island, yet to be hunted by the adventurous explorers. It is not simply a marketing to just sell and deliver consumers satisfaction but something else certainly. It is a visit to the 75 crores (which is twice as entire market of USA and would become bigger than total consumer market in countries like South Korea/Canada in another 20 years) people residing in the villages of India where they have hope, aspirations, needs and potential. They too have money and will to spend the same,

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which is more important. Because of change in the rural market environment, its market profile is changing and people are changing themselves. Ultimately, their needs and requirements are also changing. At this point of juncture companies are rushing with their product portfolio to satisfy the needs of rural consumers. The companies are applying several models and strategies to be winner in the rural market. It is also great fallacy that those who have not seen rural India, they are making and shaping rural strategy to win the hearts of rural India. The focus is on tapping the rural markets. Urban markets have saturated lied to look rural markets. This paper presents a review of rural markets environment, Problems and strategies in India. Increase in purchasing power fuelled lot of interest, several companies are exploring cost effective channels like ITC/ HUL/Colgate/Godrej/Nokia/BPCL/Reliance/PepsiCo/Coke India Ltd. INTRODUCTION 830 million Indians constituting 143 million households reside in 6, 73,213 villages (census 2011). The size of rural Market itself proves its potentiality. The current scenario both in market and economy have made the companies to come under a contemporary roof of Modern India, which has challenging segmentation, targeting and positioning opportunities. As the Urban growth rate is almost under saturation, the companies look forward to the untapped rural markets. The attracting factor here in rural is increase in literacy rate (from 36 to 59 % in rural, census 2011), that is the educated young people have access to technology and also openness to change. Also the purchasing power of rural communities has increased, says NCAER in its survey, 2010. (To be precise, the middle class growth rate in rural is 12% which is close to that in urban 13% says the survey). OBJECTIVE OF THE STUDY To unleash the potential of Rural Market (Vellore District) To analyze the various factors of Potential Rural Market To asses the shift from Urban to Rural To offer the conclusion on potentiality of Rural Market RESEARCH METHODOLOGY An exhaustive Questionnaire has been used to collect primary data. Descriptive Research is used for finding the facts on potentiality of Rural Market A Probability sampling technique Simple random Sampling is used for collecting data Sample size 500 Sample Region In and around Vellore district FACTS OF RURAL INDIA Some common characteristics that do exist amongst most of the rural markets in India are as follows. A. POPULATION: 83.3 per cent of the villages have a population of less than 2000 (Census of India 2011) B. LEVELS OF EDUCATION: Although the percentage of literates has increased from 36 in 1981 to 59 in 2001, there is still approximately 60 per cent of the rural population who lies below the middle education bracket. (Kashyap & Raut, 2011)

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C. OCCUPATIONAL PATTERN: Almost 76% of the rural population depends on cultivation or wages for their living (NCAER, 2010). D. CHARACTERISTICS: In terms of occupation, consumption and buying behavior change prominently from urban to rural in locations with population more than 10000. RURAL MARKETING IN MODERN INDIA Rural Marketing is defined as a function that manages all activities involved in assessing, stimulating and converting the purchasing power of rural consumers into an effective demand for specific products & services and moving these products & services to the people in rural areas to create satisfaction and a better standard of living and thereby achieving organizational goals (Iyer, 2011). The process should be able to straddle the attitudinal and socio-economic disparity between the urban and rural customers. URBAN TO RURAL (U 2 R): A major part of rural marketing falls into this category. It includes the transactions of urban marketers who sell their goods and services in rural areas, like pesticides, fertilizers, seeds, FMCG products, tractors, bicycles, consumer durables, etc. RURAL TO URBAN (R 2 U): Transactions in this category basically fall under agricultural marketing where a rural producer seeks to sell his produce in an urban market, like seeds, fruits and vegetables, milk and related products, forest produce, spices, etc. RURAL TO RURAL (R 2 R): This includes the activities that take place between two villages in close proximity to each other, like agricultural tools, handicrafts and bullock carts, dress materials, etc. The McKinsey report (2009) on the rise on consumer market in India predicts that in twenty years the rural Indian market will be larger than the total consumer markets in countries such as South Korea or Canada today, and almost four times the size of todays urban Indian market and estimated the size of the rural market at $577 billion. TABLE 1: RURAL POPULATION STATISTICS Population Number of Villages % of Total Villages < 200 118267 17.7 200 499 159123 23.6 500 999 159400 23.7 1000 1999 126758 19.9 2000 4999 79135 11.8 5000 9999 16618 2.6 > 10000 3912 0.6 TOTAL 6,73,213 100.00 Source: Census 2011 ATTRACTING ATTRIBUTES OF RURAL MARKETS TABLE 2: ESTIMATED ANNUAL SIZE: RURAL MARKET FMCG INR 65000 crore Durables INR 5000 crore Agri Inputs (including Tractors) INR 45000 crore 2/4 Wheelers INR 8000 crore TOTAL INR 123000 crore Source: (Francis Kanoi, 2009)

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The immense potential of the rural market can be realized if the marketers understand this market. The huge untapped needs of the rural mass, the growing rural economy and the increasing media penetration and brand awareness make this market extremely attractive to marketers (Goswami, 2009). A look at the estimated annual size of the rural market would make us understand the true potential of this untapped market. The growth statistics for FMCG and Consumer Durables sector suggests huge potential for the Indian Rural markets (Paninchukunnath, 2010). UNDERSTANDING THE POTENTIAL OF RURAL MARKET 1. LARGE POPULATION: 830 million Indians constituting 143 million households reside in 6, 73,213 villages (Census, 2011). The size of rural market itself speaks of its potential. 2. GROWTH IN MARKET: The market has been growing at 3-4% per annum adding more than one million new consumers every year. Consumer is brand loyal and understands symbols better. View it as you may, few people dispute that the rural market is massive. According to Singh, 12.2% of the world's consumers live in India. "Rural households form 72% of the total households. This puts the rural market at roughly 720 million customers."Gupta of TSMG extrapolates the Census 2001 numbers and comes up with an estimate of 790 million. "Total income in rural India (about 43% of total national income) is expected to increase from around US$220 billion in 2004-2005 to US$425 billion by 20102011, a CAGR of 12%," he says. 3. IT PENETRATION IN RURAL INDIA: Today's rural children and youth will grow up in an environment where they have 'information access' to education opportunities, exam results, career counseling, job opportunities, government schemes and services, health and legal advice and services, worldwide news and information, land records, weather forecasts, bank loans, livelihood options. If television could change the language of brand communication in rural India, affordable Web connectivity through various types of communication hubs will surely impact the currency of information exchange. As the electronic ethos and IT culture moves into rural India, the possibilities of change are becoming visible. 4. IMPACT OF GLOBALIZATION: The impact of globalization will be felt in rural India as much as in urban. But it will be slow. It will have its impact on target groups like farmers, youth and women. Farmers, today 'keep in touch' with the latest information and maximize both ends. Animal feed producers no longer look at Andhra Pradesh or Karnataka. They keep their cell phones constantly connected to global markets. Surely, price movements and products' availability in the international market place seem to drive their local business strategies. On youth its impact is on knowledge and information and while on women it still depends on the socio-economic aspect. The marketers who understand the rural consumer and fine tune their strategy are sure to reap benefits in the coming years. In fact, the leadership in any product or service is linked to leadership in the rural India except for few lifestyle-based products, which depend on urban India mainly. 5. INCREASING INCOME AND PURCHASING POWER: The agricultural development programs of the government have helped to increase income in the agricultural sector. These in turn have created greater purchasing power in rural markets. 6. ACCESSIBILITY OF MARKETS: The attraction of a market depends not only on its potential but also on its accessibility. The road network has facilitated a systemized product

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distribution system to villages. An increasing number of companies are supplying village markets directly. Increasing direct contacts to villages helps product promotion and availability of the product in the village shop. 7. CONSUMER BEHAVIOUR CHANGES: Increased literacy and greater awareness in rural markets create new demands and discriminating buyers. This is observed more in the younger generation. In villages today, this segment of buyers consumes a large variety of products, both durables and non-durables. There is a visible increase in the consumption and use of a variety of products, which is easily observed. 8. COMPETITION IN URBAN MARKETS: Intensified competition in urban markets increases costs and reduces market share. The rural markets are therefore increasingly attractive in relation to urban markets. The automobile market brings this out clearly. Rajdoot motorcycles, Bajaj scooters or Ambassador Cars find ready acceptance in rural markets as compared to urban markets where there is a proliferation of brands. 9. NEW EMPLOYMENT OPPORTUNITIES: Government schemes like IRDP (Integrated Rural Development Programme), JRY (Jawahar Rozgar Yojana) and TRYSEM (Training Rural Youth for Self Employment) have created new employment opportunities in Rural India. Co-operative banks and Public sector banks are extending loans to rural people, thereby creating job opportunities for them. As a result very few rural people are now flocking to urban centers. 10. GREEN REVOLUTION: The vision of Dr. Swami Nathan, the father of the green revolution to achieve self-sufficiency in food grain production in 1995, gave a major breakthrough in food grain production by the use of scientific methods in agriculture. At present, Rural India generates 299 million tons annually. 11. VARIOUS GOVERNMENT POLICIES: The governments stress on self-sufficiency resulted in various schemes like Operation Flood (White Revolution), Blue Revolution, Yellow Revolution, etc. resulted in the production of 15 million tons of milk per annum. 12. BETTER CREDIT FACILITIES THROUGH BANKS: With co-operative banks taking the lead in the rural areas, every village has access to short, medium, long-term loans from these banks. The credit facilities extended by public sector banks through Kisan Credit Cards help the farmers to but seeds, fertilizers and every consumer goods on installments. 13. GREEN CARD / CREDIT CARD FOR FARMERS: The government initiated credit cards for farmers through public sector banks. Canara bank and Andhra bank were the pioneers in the launch of the Kisan Credit Card. The farmer had a choice to take short or medium term loans through these credit cards to buy seeds, fertilizers, etc. This enabled him to produce more and thereby increase his income. 14. POLITICAL & SOCIAL CHANGES THROUGH FAVOURABLE GOVERNMENT POLICIES: The Indian Government launched a number of schemes like IRDP (Integrated Rural Development Program) and REP (Rural Electrification Program) in the 1970s, which gave a boost to the agrarian economy.

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15 MEDIA: Mass Media has created increased demand for goods and services in rural areas. Smart marketers are employing the right mix of conventional and non-conventional media to create increased demand for products. The role cable television has been noteworthy in bringing about the change in rural peoples mindset and influencing their lifestyles. FINDINGS 1. Advertising through electronic media is more preferred than other mediums of communication 2. Rural customers are becoming more of Brand Conscious 3. Decision making is made by Self followed by spouse 4. Rural people do not experiment with a new product unless something triggers them like positive feedback 5. Emotional attachment with customers is very low 6. Relationship building with rural customers is not effective 7. Low innovations in medium of communication compared with urban 8. Low focus on Value creation and Branding 9. More focus given on Price and Discounts SUGGESTIONS 1. REVIEW the nature and profile of rural customers due to the economic reformations in INDIA that has brought major changes in the whole market environment 2. DESIGN the rural products that appeal to the rural customers and adopt suitable medium of communication 3. ADOPT appropriate strategies for distribution that is cost effective like Hub & Spoke models 4. Marketers can BENEFIT more if they can make the rural people feel that they value them as their customers 5. PREFER Campaigns and free samples provisions in rural markets, and more of demonstrations to make them understand the value of the product and touch and feel the product CONCLUSION RURAL MARKETING IS NOT ABOUT PENETRATING RURAL MARKETS; BUT PENETRATING RURAL MINDS Economic Reforms and changing economic conditions have clearly pointed out that rural market is the Future market of India Strength 1. 2. 3. 4. 5. 6. 7. Literacy Growth Income Growth Brand Awareness Attraction for high standard of living Favorable Government policies Huge population Awareness and Affordable; needs Availability Challenges 1. 2. 3. 4. 5. 6. Slow to adopt Brands Scarcity of media Bandwidth but abundance of attention Multi Languages Scattered nature of villages increase distribution costs Handicapped Distribution More Personal Selling

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Opportunities 1. 2. Joint or Co operative Promotional Strategy 3. Virgin Markets 4. High Potential both market and Customers 5. Value/ Brand image Creation rather than Price/ Discounts

Improvements 1. 2. 3. 4. Under developed people and Under developing markets Lack of Proper transports and Communication Inadequate Credit and Banking facilities Difficult Road Transportations

Rural Market Opportunities Few of the companies that are going bullish in the rural markets: HUL with its Project Shakti has already has a reach of 1.7 lakh villages, and aspires to reach 5 lakh villages by 2020. Indian Tobacco Company (ITC) has a lot of penetration in the rural markets and the eChoupals are a big hit in the rural market. Airtel is planning to reach around 2 lakh villages. Marico with its most famous brand Parachute has a reach of 1 lakh villages. Pepsi and Coke, the Cola giants, have a reach of 70,000 villages. Dabur, known for its Lal Dant Manjan and Hajmola, has a reach of 60,000 villages. Colgate with its Operation Jagruthi has a reach of over 60,000 villages. Mahindra & Mahindra sells most of its SUVs in the rural market. Mahindra Shubhlabh is Indias largest exporter of fresh produce. Mahindra Shubhlabh engages with farmers in the production of export quality grapes, pomegranates, and apples aimed at delivering to domestic and international markets. It has a huge R&D facility in Pune to research on various modern seeds and saplings. Nokia 1100 with its torch is a very big hit in the rural market. It is a perfect example of understanding the needs of the consumer. Nokia realized the need for a torch in the mobile for the rural people as they walk in the dark streets and fields of the village. Nokia is set to release some low cost phones to tap more from the tier-3 and tier-4 markets. There are other companies like Godrej, ParleG, Asian Paints, Yes Bank, Royal Enfield, ITC and Revlon. Marketing Challenge Delivering to the rural markets is a real challenge to many companies. In fact, the whole dynamics of these markets are so different that you need to look at a different product mix containing the 4As instead of the traditional 4Ps of marketing: Acceptability Build what the consumer wants Affordability - Make an affordable product Availability - Distribution plays a key role in the rural markets Awareness - Dont promote the brand, demonstrate the product.

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Top Media in Rural Markets Dainik group is the leading newspaper in the rural markets. In the realm of television, we have the following in the descending order of penetration in the rural markets. Doordarshan has a reach of 97% of the rural markets in India. Zee Cinema which carries with the image of movies being the favourites of rural people. B4u movies MTV Discovery Hindi One of the key trends in the rural markets is people changing very quickly from cable to satellite TV. This is because of the hassle-free dish connection of the satellite TV. Most of the dish TV companies like Tata Sky, BIG TV, and Airtel are selling good in the rural markets too. Similarly, Revlon has come up with a lipstick for the rural markets and it is doing very good as against Lakme. This shows that there is huge potential in these markets and it is interesting to see how these trends will transform the lives of the rural people and in turn impact the Indian markets.

Rural youth aspiring for branded watches REFERENCES 1. 2. Del Castello, Ricardo, Maul Braun (2006), Framework for effective rural communication for development Goswami, Rahul (2009) Making sense of the rural rush, http://www.indiatogether.org/2009/apr/eco-ruraleco.htm

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3. 4. 5. 6.

7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17.

Iyer, Vidya (2009-2010), Rural Marketing, SIES Journal of Management, Vol. 6, Iss. 2; pg. 110, 4 pgs Jha, M., (April 1999) Rural Marketing: Some Conceptual issue Rural Scan, vol. I no.2 Kashyap, Predeep and Raut, Siddhartha (2010 ed.), The Rural Marketing Book Lane, Bernard, Kenji Yoshinaga (1994), Niche markets for the rural world, The OECD Observer. Paris: Oct/Nov 1994. , Issue no. 190; pp. 14Vishwanathan, Gomathi, Challenges in Rural Marketing, http://EzineArticles.com/?expert=Dr._Gomathi_Viswanathan Wright, Kimberly Anne (2001), Consuming identities: Global advertising, marketing and cultural identity in India, issue no. AAT 3041323, pp 256 Jha, Neeraj (2000), "Gung-ho on rural marketing", The Financial Express, June 19, 2009 Krishnamurthy, Jagadeesh (2009), Yeh Rural Kya Hai? The Challenges and Opportunities of Marketing in Rural India, EF, December Paninchukunnath, Ajith (2010), 3P Framework: Rural Marketing in India, January March, pp 54 67 Business World, The Marketing Whitebook 2010-2011 Mirchandani, Rahul (2006), Evolving a New Marketing Mix for Selling to Rural Indians, http://knowledge.wharton.upenn.edu http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4386 www.trai.gov.in http://www.rbi.org.in http://news.in.msn.com/national/article.aspx?cp-documentid=5090652

BRAND PERCEPTION OF CUSTOMERS ABOUT TATA GOLD PLUS (A STUDY IN NAGERCOIL BOUTIQUE) Prof. V.T.R. Vijayakumar, Ph.D, Head, Dept. of Management Studies, Mrs. S. Jasmine Suguna & Mrs. Punitha Sahaya Mary Francis Assistant Profs. Dept. of Management Studies, St. Xaviers Catholic College of Engineering, Chunkankadai, Nagercoil.

Introduction John Stewart, co-founder of Quaker oats, once said, If this business were split up, I would give you the land and bricks and mortar, and I would keep the brands and trademarks, and I would fare better than you. Thus, brands are powerful assets that must be carefully developed and managed. Brands are more than just names and symbols. They are a key element in the companys relationships with customers. Brands represent customers perceptions and feelings about a product and its performance- everything that the product or service means to consumers. In the final analysis, brands exist in the minds of customers. Brand perceptions are shaped by functional experiences (i.e. speed, quality, reliability, ease of use) as well as emotional experiences (i.e. make me feel better, improve my performance, make my life/job more gratifying or easier) the customer associates with the product and

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company. Brand experiences and perceptions are developed over time through a variety of sources Indians have a huge fascination for gold. This is evident in the fact that India is the largest customers as well as importer of gold in the world. Gold plays a very important role in the social, religious and cultural life of Indians. India Gold Market looks poised to achieve greater heights given the fascination for gold in the country. India consumes about 800 MT (metric tons) of gold which accounts to about 20% consumption of gold globally. More than 50% of this is used for making gold jewelry. As per World Gold Council estimates, about 60% of the gold in India is bought in small towns and villages. Tata Gold Plus is the Jewellery Brand of Titan Industries designed for the Jewellery Preferences of the Semi-Urban and Rural Indian Customer. Titan Industries Limited, incorporated in 1984, is a joint venture between Tata Industries and Tamil Nadu Industrial Development Corporation Limited (TIDCO). Gold Plus is the largest jewellery retail chain in Tamil Nadu. Finding out how the customers perceive the brand is essential because as Philip Kotler said brands exist in the minds of consumers. It also helps in ascertaining whether the intended Brand Image and Positioning have been achieved. Review of Literature The influence of product variety on brand perception and choice By Jonah Berger, Michaela Draganska and Itamar Simonson, Stanford Graduate School of Business, Marketing Science, 2006 The results of six studies support this proposition and demonstrate that, Brands offering increased compatible variety were perceived as having higher quality; This effect was mediated by product varietys impact on perceived expertisecommitment; The higher perceived quality led to a higher choice share of brands offering greater product variety, even amongst identical options offered by multiple brands; and Product variety also impacted post-experience perceptions of taste. Brand and perception & Brand equity of Baby accessory products in working moms perspectives By Phusit Wonglorsaichon and Paitoon Sathainrapabayut, International Review of Business Research Papers, Vol 4, No.1 Jan.2008, pp no. 385-395 The awareness and perceived quality is a significant component of brand perception while the acceptability and good attitude towards brand are the important factors of brand equality. The working mom who had high income prefers to choose brand via emotional appearances more than functional appearances i.e., choosing brands that reflect their taste, characteristic and social status. Ethnocentrism, Country of Origin, and brand perception in a special context By Yamen Koubaa, International Journal of Business and Emerging Markets, Vol.1, No. 3, 2009

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Consumers' ethnocentrism can be activated by media and oriented by the context. Highly reputed and less reputed brands perceptions are affected differently when consumers' ethnocentrism is activated. Positioning to capture the Indian Womans Heart, By Das Narayandas, Havard Business School, pp no. 33, 2006 The firm has to choose between an established brand, Tanishq, and a new skunk works brand, GoldPlus, to go after the Indian plain gold jewelry market. Tanishq, initially targeted at a western customer, has undergone strategic retooling and has currently been repositioned to serve the traditional yet modern Indian woman. The brand still carries some baggage from its past. GoldPlus on the other hand, is a new brand that is positioned to serve the plain gold wedding jewelry market. A variety of strategic, economic, organizational and brand investment reasons make the decision an important one. Methodology Research Statement: Brand Perception of Customers about Tata Gold Plus (A Study in Nagercoil Boutique) Objectives of the study 1) To understand the Brand Perception of the customers of Tata Gold Plus. 2) To find out the customers perception of the Quality, Price, Credibility, Customer Service, Exchange Value, Collections, Promotional Activities and Saving Schemes of Tata Gold Plus. 3) To determine the relative impact of various factors influencing Brand Perception. Hypothesis: Ho: There is no association between Class Perception of brand and different Literate groups. H1: There is association between Class Perception of brand and different Literate groups. Sample Design Type: Simple Random Sampling Sample Unit: TATA GoldPlus boutique, Nagercoil. Sample Size: 105 customers Tools used: Weighted Average and ANOVA Data Collection: The Instrument used to collect data is Interviewing Schedule. The Interviewing Schedule has been broken down into three parts. The Overall Perceptions about the Brand such as Personality, Class, Overall Experience, Brand Associations etc Perceptions relating to specific attributes such as, Quality, Purity, Credibility, Price, Customer Service, Exchange Value, Savings Schemes, Promotional Activities etc Ranking questions to find out the important considerations in the purchase of jewellery and to determine the relative impact of various factors influencing Brand Perception. Method: Qualitative Research Limitations: 1) The Population or Universe is confined to the customers of the Tata Gold Plus Nagercoil boutique only. 2) The Sample Size is limited to 105 respondents.

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3) The results cannot be projected as the general perception of the customers of Tata Gold Plus all over India. Because Brand Perception may vary between different geographic locations owing to the demographic, social and cultural differences. Analysis and Interpretation Table: 1 Annual Income Income Level No. of Respondents 21 30 18 16 5 15

Middle Class Brand Premium Brand

54 51

51% 49%

1 Lakh and Below 1,00,0012,00,000 2,00,0013,00,000 3,00,0014,00,000 4,00,0015,00,000 Above 5 Lakhs Total

20% 29% 17% 15% 5% 14%

Total 105 Source: Primary Data

100%

Table: 5 Personality perceived about the Brand Option No. of Respondents 45 60 %

105

100%

Conservative Chic/ Modern

43% 57%

Source: Primary Data Total 105 100%

Table: 2 First thing that comes to mind about the Brand Option No. of Respondents 39 33 10 3 5 9 6 105 %

Source: Primary Data

Purity Quality Customer Service Savings Schemes Reliability Collections Brand Image Total

37% 31% 9% 3% 5% 9% 6% 100%

Table: 4 Respondents experience with the Brand Option No. of Respondents 41 55 8 1 %

Source: Primary Data Table: 3 Class Perceptions on the Brand Option No. of Respondents %

Very Pleasant Pleasant Neutral Unpleasant Very Unpleasant

39% 52% 8% 1% 100%

Total 105 Source: Primary Data

Table: 6 The Brand is known for quality

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Option Strongly Agree Agree Neutral Disagree Strongly Disagree Total

No. of Respondents 59 44 2 105

% 56% 42% 2% 100%

Source: Primary Data Table: 7 The name of TATA lends sufficient credibility to the Brand Option Strongly Agree Agree Neutral Disagree Strongly Disagree Total No. of Respondents 71 33 1 % 68% 31% 1% -

Option Innovative & Attractive Personal & Persuasive Both Insufficient in the competition Total

No. of Respondents 28 23 35 19

% 27% 22% 33% 18%

105

100%

105

100%

Source: Primary Data Table: 8 Respondents opinion on the promotional activities

Table: 9 Respondents opinion on the Authenticity of Purity certificate Option Testimony to Quality Equivalent to BIS certification No significance Total No. of Respondents 89 11 5 % 85% 10% 5%

105

100%

Source: Primary Data

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Table: 10 Reasons to revisit TATA GOLDPLUS Option Purity Quality Customer Service Savings Schemes Reliability Collections Brand Image Total No. of Respondents 26 45 9 3 4 8 7 % 25% 44% 9% 3% 4% 8% 7%

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100%

Source: Primary Data

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Table: 11 Priority of the considerations in the purchase of jewellery Weighted Average Method Rank 1 2 3 4 5 6 7

Weight Table: 11 Rank 1 Factors Quality Price Variety Discounts Offers Gifts Exchange Value Customer Service & 2 3

Weighted Average

Rank

86 7 6 1 1 1 3

13 25 40 4 1 13 10

4 29 23 12 1 24 11

1 23 15 13 4 34 15

1 9 15 21 10 17 32

0 8 4 40 25 6 22

0 4 2 14 63 10 12

6.73 4.6 4.88 2.86 1.69 3.94 3.31

1 3 2 6 7 4 5

Source: Primary Data

Interpretation: The ranking shows that Quality is the most important consideration in the purchase of jewellery, followed by Variety and then by Price. Discounts & Offers and Gifts have secured the 6th and 7th positions respectively. This shows that the customers are more inclined towards the Worth of the product than towards the Gifts and Offers when it comes to investments like Gold. Table: 12 Relative impact of the influencers of Brand Perception Weighted Average Method Rank 1 5 2 4 3 3 4 2 5 1

Weight

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Table: 12 Rank 1 2 3 4 5 Weighted Average

Rank

Factors Previous experience with the brand Advertising Opinion relatives of friends &

48 24 24

27 17 32

13 15 19

10 21 21

7 28 9

3.94 2.89 3.39

1 3 2

Interaction with staff & marketing people Characteristics of the users of the brand Source: Primary Data

17

31

26

26

2.51

12

27

27

35

2.27

Interpretation: The ranking shows that Previous Experience with the Brand is the most important influencer of Brand Perception followed by Opinion of Friends and Relatives. The Company seems to have a better understanding of this phenomenon. This is evidenced by the fact that the company has been trying to make lasting impressions in the minds of the Customers through its Ananta Programme and trying to bank on the Word of Mouth Publicity created by its Below the Line Promotional activities. ANOVA (Analysis of Variance) Difference in Class Perception and Brand between different literate groups Ho: There is no association between Class Perception of brand and different Literate groups. H1: There is association between Class Perception of brand and different Literate groups.

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Source of Variation Between samples Within samples

Sum of Squares SSC= 472.37

Degrees Freedom 1= c-1 =3 2= c(r-1) =4 3= cr-1 =7

ANOVA Table: Table: 13 of Mean Square

F- Ratio

Ft

MSC= 157.5

F = MSC/MSE = 157.5/23.6 Fc = 6.67

MSE= 23.6

Ft with ( 1, 3) = (3,7) @ 5% LOS Ft = 4.35

SSE= 94.5

Source: Statistically calculated Data Calculated F, Fc > Tabulated F, Ft Therefore reject Ho. Accept H1. Inference: There is Significant Difference in Class Perception of brand between different Literate Groups i.e., there is a tendency among the less educated (SSLC & Below and Higher Secondary) to perceive the Brand to be a Middle Class Brand and the highly educated (Graduates and Post Graduates) to perceive the Brand to be a Premium Brand, though Tata Gold Plus is not the Premium Jewellery Brand of Titan Industries. Findings 1) There is a mixed response about the Personality of the Brand, whether Conservative or Chic/ Modern. Though Tata Gold Plus was originally intended to serve the traditional 22 karat rural and semi urban jewellery segment, it had to have both conservative and chic designs in its collection because of the changing tastes of the people in the semi urban areas especially towns like Nagercoil. 2) Majority of the respondents have had a Pleasant experience with the Brand. This could be attributed to the Customer Service and the Customer Relationship Management practices. 3) Results show that Tata Gold is perceived to be Pure Gold widely. This perception is reinforced by the use of Karatmeter to check purity, which is the first of its kind in the local Jewellery market. 4) Results show that Tata Gold Plus has established itself in the minds of customers as a Quality Brand. This can be attributed to the Brand Equity and the Goodwill of the brand TATA. 5) From the figures it is evident that the name of Tata lends sufficient Credibility to the brand because of the fact that the Tata Group has been a Pioneer in diverse fields and the Brand Tata has always been synonymous with Quality.

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6) A majority of the respondents Strongly Agree that the brand frequently introduces new ranges of collections. But the Company has failed in creating the necessary publicity for the new ranges introduced. 7) 33% majority opine that the Promotional Activities are Innovative and Attractive as well as Personal and Persuasive. But still the 18% who think that the Promotional Activities is Insufficient in the Competitive scenario cannot be ignored. The company may think of some measures to combat the intense local competition. 8) A significant majority of 85% respondents are of the opinion that the Authenticity of Purity certificate is a Testimony to Quality. This exhibits the Trust the customers have in the brand Tata. 9) A Striking Majority of 97% respondents are willing to continue to shop at Tata Gold Plus. This shows that Tata Gold Plus has a High Customer Retention and a Loyal Customer Base. Discussions 1) More varieties and collections in all sizes and weights may be made available to avoid walk-outs. 2) Local advertising may be improved to withstand the increasing competition in the local market. Hoardings may be placed in strategic locations and events may be conducted more frequently to create publicity. 3) Offers may be made more frequently available and more publicized to increase sales. Discounts and complementary gifts may be provided on huge purchases. 4) Respondents prefer more light weight jewellery in the collection. 5) More unique and trendy models may be included in the collection to cater to the changing tastes. CONCLUSION The study brings out that an overall favourable Brand Perception exists in the minds of the customers about Tata Gold Plus. But the Brand has not successfully positioned itself as a Middle Class Brand offering products at different sizes and weights. This is evident from the fact that a considerable number of respondents perceive Tata Gold Plus as a Premium Brand. The Brand has however, established itself as a Credible brand offering Quality products and valuing Customer Relationship.

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BIBLIOGRAPHY 1. 2. 3. 4. 5. 6. 7. 8. 9. Phusit Wonglorsaichon and Paitoon Sathainrapabayut, International Review of Business Research Papers, Vol 4, No.1 Jan.2008, pp no. 385-395. Das Narayandas, Havard Business School, pp no. 33, 2006. Philip Kotler and Gray Armstrong, Principles of Marketing, Pearson Publication, 2009, 12th edition, pp no: 13, 173, 216, and 217. David A Aaker, Managing Brand Equity: Capitalizing on the Value of a Brand Name, The Free Press Publication, 1991. Sicco Van Gelder, Global Brand Strategy: Unlocking Branding Potential Across Countries, Cultures and Markets, Kogan Page Limited, 2003, pp no: 41. C. R. Kothari, Research Methodology: Methods and Techniques, New Age International Publishers, 2004, 2nd edition, pp no: 3, 59, and 104. S. P. Gupta, Statistical Methods, Sultan Chand & Sons, 2009, 28th edition, pp no: 954, 957, and 1009. Jonah Berger, Michaela Draganska and Itamar Simonson, Stanford Graduate School of Business, Marketing Science, 2006. Yamen Koubaa, International Journal of Business and Emerging Markets, Vol. 1, No.3, 2009.

TOURISM: ASSESSING THE MARKET SCENARIO IN KANYAKUMARI DISTRICT Chidham Priya. N, Research Scholar, Usha. A, Research Scholar, Dr. M. Edwin Gnanadhas Ph.D., Scott Christian College (Autonomous), Nagercoil, ABSTRACT: Tourism is important and vital for our country. Tourism involves travelling with the specific object of studying, admiring, and enjoying the scenery as well as cultural and historical areas. Marketing of Tourism Services include mainly the services sold to domestic and foreign tourists. Kanyakumari is a natural as well as historical tourist place of India. It has been a great centre for art and religion for centuries. It was also an area of great trade and commerce. Ultimately a total of 1.9 million tourists (domestic and foreign) have visited Kanyakumari in 2009. In this paper, a trial has been made to study the state of marketing of tourism services in Kanyakumari district. And also this paper highlights the status of foreign and domestic tourists and the related trend, the share of the study area. In tourism business, the employment opportunities rendered by this industry along with the availability of different infrastructural facilities like hotel, transportation etc. The paper ventilates some of the problems of Kanyakumari tourism market and suggests some improvements. Keywords: Tourism potential, Marketing Tourism INTRODUCTION Tourism is a major industry of India and it plays an important role in socio-economic development of countrys economy. This sector also plays a significant role in supplementing income and generating employment besides it is also a major contributor to foreign exchange earnings. Contribution of tourism to Gross Domestic Product (GDP) at current price is about 6.23 percentages and it participates 8.78 percentage of total

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employment in India. During 2011, Foreign Tourist Arrivals (FTA) in India was 6.29 million, with a growth rate of 8.9 percentages over 2010. FTAs in India during 2010 were 5.78 million as compared to the FTAs of 5.17 million during 2009, showing a growth of 11.8 percentages. India generated about 200 billion US dollars in 2008 and that is expected to increase to US 375.5 billion dollars by 2018 at a 9.4percentages annual growth rate. Ministry of Tourism issues national policies and programmes for the development and promotion of tourism. In order to promote tourism, the Ministry consults and collaborates with central and state ministers, the state governments and union territories and the representatives of the private sector. Concerted efforts are being made to promote new forms of tourism such as rural, cruise, medical and eco-tourism With the objectives of developing tourism income, employment and foreign exchange earnings, Government of India is deeply involved in tourism marketing. It includes the activities made to attract the travellers about a place. Today, the Ministry of India also maintains Incredible India to promote global audience. It is a campaign introduced in 2002 by Ministry of Tourism Development. Later, the phrase "Incredible India" was adopted as a slogan by the ministry. In 2009, plans were introduced to extend the Incredible India campaign to the domestic tourism sector as well. 12 million dollars out of a total budget of 200 million dollars was allocated in 2009 for the purpose of promoting domestic tourism. In 2008, the Ministry of Tourism launched a campaign targeted at the local population to educate them regarding good behaviour and manners when dealing with foreign tourists. It was aimed at creating awareness about the effects of tourism and educating the local population about preservation of India's heritage, culture, cleanliness and hospitality. It also attempted to create a sense of responsibility towards tourists and ensure the confidence of foreign tourists towards India as a preferred holiday destination. As part of marketing, Ministry of tourism issues posters, banners, maps, brochures, leaflets, films, electronic advertisements and organizing events. Information technology has been used to provide all information about the place, accommodation, guide and the whole packages for the tourists. The marketing involves celebrities, movie stars, sports personalities to ensure the popularity and protection of tourist spots, memorials and national symbols. With the help of these marketing activities it generates large publicity for tourism India. The 12th Five Year Plan prepared by the Planning Commission highlights the need to adopt "pro-poor tourism" for increasing net benefits to the poor and ensuring that tourism growth contributes to poverty reduction. Tourism plays a key role in socio-economic progress through creation of jobs, enterprise, infrastructure and revenue earnings. The Planning Commission has identified tourism as the second largest sector in the country in providing employment opportunities for low-skilled workers. ROLE OF TOURISM IN INDIAN ECONOMY More than 60 years into its independence from British colonial rule, India has developed into a stronger player on the world economic stage. As per 2010 census, India is the second most populated country after China. Even though most of the population is rural and agricultural background, Indias service-based economy has been involving with more English-speaking, well-educated workforce to develop many sectors. Tourism is a growing part of Indias economy with earnings of more than 200 billion US dollars in 2008. India's government, through its Tourism Ministry, developed a National Action Plan for Tourism to develop this portion of the economy. The plan sought to promote tourism as a way to boost

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socio-economic development, increase employment, preserve the nation's heritage and environment and promote international and domestic tourists to visit India as a way to increase its share of global tourism. Through this plan, the ministry began advertising campaigns at home and abroad. The successful campaign has brought more tourists and their money to the country and boosted employment in this sector. In 2006, more than 4 million tourists have visited India and spent the equivalent of 8.9 billion U.S. dollars, and this figure about 22 percent each year from 2006 to 2009. Gratitude belongs to Indias technology and service sectors, foreign business travellers are enjoying their holidays in India by large numbers. Many extend their trips, adding more tourist money to the economy. In fact, foreign tourists from all over the world spend more in India than almost any other country worldwide. Tourism sector plays a major role in foreign Exchange Earnings (FEE). Therefore, tourism is the most important sector in the country. The FEE from tourism in India, in Indian rupees terms and US dollars terms, during 1991-2010 are given in Table 1. Table 1 Foreign Exchange Earnings from Tourism India during 1991-2010 FEE in Rupee Terms Year Rupees (in Crores) FEE in Dollars Terms Percentage change over previous year -0.1 7.0 13.7 9.6 2.0 2.0 2.1 15.0 -7.6 -3.0 43.8 38.2 21.4 15.2 24.3 10.3 -3.7 24.6

Percentage US Dollar change over (Million) previous year 1993 6611 11.1 2124 1994 7129 7.8 2272 1995 8430 18.2 2583 1996 10046 19.2 2832 1997 10511 4.6 2889 1998 12150 15.6 2948 1999 12951 6.6 3009 2000 15626 20.6 3460 2001 15083 -3.5 3198 2002 15064 -0.1 3103 2003 20729 37.6 4463 2004 27944 34.8 6170 2005 33123 18.5 7493 2006 39025 17.8 8634 2007 44360 13.7 10729 2008 51294 15.6 11832 2009 54960 7.1 11394 2010 64889 18.1 14193 Source: India Tourism Statistics 2010, Ministry of Tourism and Culture.

The above table clearly indicates that Earnings from Foreign Exchange have been increasing in past 20 years. As per the monthly estimates prepared by Ministry of Tourism, FEE from tourism in India in 2010 was Rs.64889 crore as compared to Rs.54960 in 2009 registering a growth of 18.1 percentages in 2010 over 2009. In US dollar term, FEE from tourism in 2010 was US dollar 14.19 billion as compared to US dollar 11.39 billion in 2009 with a growth rate of 24.6 percentages.

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TOURISM MARKETING BY MINISTRY OF INDIA Tourism industry is the largest employment generator. This is the only industry which requires less or no investment, yet generates billions of foreign exchange to the country. Many small nations viz. India, the country has rich tourism locations, yet, figured in the bottom of the rank table in attracting foreign tourists. Considering the above facts, the marketing of tourism plays a vital role in any country's agenda. Tourism proved to be world's biggest industry, generates massive employment opportunities and revenues as well. It is unlike, other marketing concepts, it needs a well-planned integrated approach, because, it is marketing of a country. Positioning and promotion are twin eyes, which are to be emphasized more, in the minds of international population. It is integrated with leisure, entertainment, transportation, communication and all service sectors. Traditionally, the job is usually done by a Government to promote the country. India attracts millions of tourists each year, but lags far behind other destinations. To attempt to improve the number of tourists travelling to India, the Tourism Department of India started the Atithi Devo Bhavah (The guest is God) campaign with the theme Incredible India on 2002. 'Atithi Devo Bhavah' is a Social Awareness Campaign aimed at providing the inbound tourist a greater sense of being welcomed to the country. The campaign targets the general public, while focusing mainly on the stakeholders of the tourism industry. The campaign provides training and orientation to taxi drivers, guides, immigration officers, police and other personnel who interact directly with the tourist. Bollywood actor Aamir Khan is the brand ambassador of the 'Atithi Devo Bhavah' campaign for the Ministry of Tourism. Advertisements have been made out to develop and protect the national symbols, tourist spots and how to behave among tourists. The ministry develops tourism bay Incredible India campaign. It engages the services of advertising and marketing to create a new campaign to increase tourist inflows into the country. This project is an attractive tourist destination by showcasing different aspects of Indian culture and history like yoga, spirituality and so on. It attempts to create awareness of tourism and educate the local population to preservation of Indias heritage, culture, cleanliness and hospitality. This campaign was conducted globally and appreciated from tourism industry and travellers. However, it also has been criticized from some social interested people that it has failed to cover all the aspects of India which would have attract the average tourists. As part of its marketing and publicity activities, the Ministry of Tourism brings out brochures, leaflets, maps, films, CDs, etc. on various topics. Each heading gives details the theme on an all India basis. In case of the destination folders, the leaflet or folder or brochure gives the information about the place or the destination with various facts of the facilities available, sight seeing around the place, important telephone numbers and the contact points of India tourism officers. Similarly, the films deal with the subject in its entirety covering all destinations of the country. For publicity and marketing, the ministry has been involving with the following methods to encourage tourism. All information relevant to places, accommodation and transportation are advertised through Government and private tourism websites. Tourist spots are popularized by printing of posters, brochures, banners and release of electronic as well as print advertisements. Organizing events, food festivals, and cultural programmes.

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Information technology is upgraded to facilitate international tourists. Holiday packages arranged by privates and its encouraged by the State and Central Governments.

RESULT AND DISCUSSIONS Kanyakumari District Tourism Kanyakumari is the southernmost tip of India provides sunshine view of Indian Ocean. As we all knew, India is a peninsula, surrounded by Arabic ocean, Bay of Bengal and Indian Ocean. We can see these three oceans in Kanyakumari. It has many religious places, memorials, forts, palaces, beaches and other attractions to entertain, enjoy and studying cultural as well as historical areas. It is a second most urbanized district of TamilNadu. Kanyakumari district has separated from Kerala on 1956 from the recommendation of the States Reorganization Commission. This district has a pleasant climate and has the advantage of both the South-West as well as North-East monsoons. Kanyakumari district is famous for its majestic hills, virgin beaches, pristine rivers and meandering rivulets. This district is also called as The district of Ponds, The lands end and Foot of India. For administrative purposes, the district comprises four taluks, being Thovalai, Agastheeswaram, Kalkulam, and Vilavancode. The administrative capital of this district is Nagercoil. It has a benefit of both monsoons from Kerala and TamilNadu. This district is famous for tapioca, rice, banana, cashew, coconut and rubber. Fishing, rubber tapping and agriculture are the major industries. The following are the major tourist attractions of Kanyakumari District. Table 2 Tourist Attractions in Kanyakumari District Historical Places Religious Places Memorials Forts and Palaces Natural Places Beaches, Falls and Dam Others Other tourist attractions

St.Xavier Church Kamaraj Kumari Amman memorial Sunrise and sunset Temple Mahathma point of Suchindram Gandhi Vattakottai Circle Kanyakumari Temple memorial fort Triveni Sangamam Light house of Nagaraja Temple Vivekananda Udayagiri fort Sothavillai beach Kanyakumari Tiruvattar memorial Padmanabapuram Sanguthurai beach Bay watch Temple Thiruvalluar Palace. Thekkuruchi beach theme park Mondaikadu memorial Mathoor Muttom beach Kids park Bhagavathy Statue thottipalam Thengaipattanam Amman Temple Velu Thambi beach Peer Mohammad Dalawah Thirparappu Water Dargah at memorial falls Thukalay Petchiparai Dam Chitharal Rock Kalikesam Temple Source: Author The above table shows the attractions of Kanyakumari district. Among these, Thiruvalluar Statue and Vivekananda memorial are placed in Indian Ocean. It is used as a symbol of TamilNadu tourism. The following are the important places to visit in Kanyakumari District.

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Historical Places: On two rocks just off the shore, Vivekananda Rock Memorial, built in 1970, and the 133 feet (41 m) tall statue of Tamil saintpoet Thiruvalluvar, one of the biggest statues in Asia, completed in 2000. Swami Vivekananda is said to have meditated on this rock for three days. Also on this rock, there is a Dhyana mandapam, an area for meditation. Ferry services are available to reach the memorial. The Gandhi Memorial has been built on the spot where the urn containing the Mahatma's ashes was kept for public viewing before immersion. Resembling central Indian Hindu temples in form, the memorial was designed in such a way that on Mahatma Gandhi's birthday, second October, the first rays of the sun fall on the exact place where his ashes were kept. These are the primary attractions of Kanyakumari. Suchindram has the Thanumalayan temple with a repository of art treasures belonging to several kingdoms. Construction of the temple extended over a period of over six hundred years. The temple is famous for its 9th century inscriptions, musical columns, and 6-meter-tall statue of the god Hanuman. It is studded with complex architecture, variety of sculptures, and rich inscriptions capture the very essence of the culture & heritage of Kanyakumari. St.Francis Xavier Church, Kumari Amman(Virgin God) temple, Nagaraja temple, Mondaikadu temple, Peer mohammad Dargah are some religious place to visit and study the culture, heritage and art of people over centuries. Vattakottai Fort (Circle fort) is an 18th-century fort overlooking the sea, located six kilometres from Kanyakumari. The small historic fort also gives an enchanting view of the sea around and the hills on the other side. Padmanabhapuram Palace is a large 17th century palace of the Trivancore kings, made almost entirely of wood. It is the only one of its kind in India. Also peruse the collection at the palace archaeological museum housed in the first courtyard from the entrance. It is home to a world of antiques including furniture, coins, granite and rosewood sculptures, stone and copper plate inscriptions, swords, rifles, spears and shields among other ancient armaments. Matthoor thottipalam is one of the biggest aqueducts, both in height and length, in Asia. It has built between two hills over Palayar River. Natural Places: Thirparappu falls, Pechiparai dam, Kalikesam are the natural places where tourist can enjoy, relax and refresh. Sanguthurai Beach, about 8 kilometers from Nagercoil is a palm-fringed and sandy beach. Sothavilai Beach is another good beach, about 7 kilometers from the heart of town. Kalikesam is a good picnic spot. One can enjoy water rushing through small mountain streams with pebbles and ferns all around. Thengapattinam beach is a fine beach adorned with coconut groves. It is also a magnificent estuary where the river meets the sea. Riding in a catamaran in the river can be a pleasant experience which can be arranged through local fishermen. And other artificial attractions like Bay watch (Theme park), Light house, View point, Kids Park were built to entertain the tourists. Tourists Arrivals The following table shows the domestic as well as foreign tourists arrival in past 10 years in Kanyakumari district.

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Table 3 Domestic Tourists Arrivals From 2001-2010 Months 2001 2002 2003 2004 2005 2006 2007 13181 13191 16636 16606 17250 17930 17530 January 11311 11361 16456 16428 17145 17866 37096 February 13671 13824 16699 16674 17394 18114 21667 March 17210 20526 17138 17103 17719 18540 24077 April 24998 25501 17629 17678 18288 19056 28288 May 18245 22746 17629 17234 18841 18558 23060 June 15341 16301 16953 16924 17555 18372 18713 July 14219 15210 16841 16718 17347 18066 17785 August 13865 13821 16708 16674 17188 18000 17061 September 14265 14100 16727 16693 17324 36496 16472 October 14301 15300 16848 16818 17535 18349 17365 November 11620 12629 16581 16518 17234 18053 16248 December 182227 194510 199088 202068 209820 219089 237824 Over all Source: Tourism Information Center, Kanyakumari

2008 17569 21204 27734 22957 22234 25542 21905 27991 26420 21495 20192 21037 284120

2009 25410 36017 42487 50342 70643 58957 48842 37639 36457 30945 25254 22850 323642

2010 50339 26805 33595 39929 32915 29325 33825 23055 21275 22066 23149 20112 325997

Table 4 Foreign Tourists Arrivals From 2001-2010 Months 2001 2002 2003 2004 2005 2006 2007 2008 32 35 38 40 43 35 45 23 January 33 37 39 41 44 37 34 28 February 18 36 38 54 31 35 34 70 March 55 89 73 71 93 52 102 82 April 91 91 84 82 124 72 70 175 May 70 81 78 76 93 66 75 110 June 57 49 67 80 54 32 55 70 July 30 42 46 57 38 33 40 38 August 40 43 46 43 41 35 63 30 September 43 46 49 50 30 35 43 26 October 26 35 31 26 35 32 45 29 November December 24 38 34 28 35 32 41 31 Over all 521 622 623 648 661 672 647 712 Source: Tourism Information Center, Kanyakumari

2009 48 35 44 72 112 82 77 90 52 45 31 80 768

2010 67 70 54 93 95 86 50 52 63 51 44 89 814

Table 3 clearly explains that majority of domestic tourists have visited during March, April and May. Enjoying summer vacation of children is a major reason for domestic tourists arrival in these months. Foreign tourists preferred months for visiting are during the month of April, May, June and December as seen in table 4. During these months, hotels in Kanyakumari introduce more offers, food festivals, discounts, buffets, transportation and bar facilities for their customers to attract the tourists. Tourism Marketing In Kanyakumari District The following marketing strategies have been used to encourage tourism in the study area. These activities are undertaken by both government and private sectors. Online Booking: Assistance of holiday packages with travel guide, tips, options are offered by various websites. Through these websites, travelers from local and foreign can be provided information about the places to visit, accommodation, food, transportation within their budget. And also they do special offers for Educational tour-30% offer, College tour-

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20%, Senior citizens-15% and for Group bookings 10%- 30%. They provide all information about the accommodation in Kanyakumari. It includes photos of the places, flight details, the room rent of various hotels, resorts, lodges. Tourists can also book the vehicles during travel. The tourists are allowed to book in advance for summer season and Christmas season through online booking. It facilitates foreign as well as domestic tourists. For foreign tourists, some websites offer transportation from the airport to the hotels. With these websites, the tourists have variety of choices to select the packages, compare the price list of hotels and enjoy their holidays within their budget. Shopping: Local beach bazaars of Kanyakumari do art works with the seashells. The array of curios from looking mirrors framed with the millions of seashells, lampshades, wall hangings, junk jewelry, trinkets, bags make the experience of flipping through fascinating souvenir shops. The local bazaars on the out finger of the Kanyakumari beach is a hub to find shell-craft and other crafts made on bamboo, cane and teak, miniature paintings on palm leaves, textiles, fabrics and handicraft are the symbol of typical TamilNadu. Some shops are selling South Indian silk sarees, coconut-shell souvenirs, kathakali masks, patch work and embroidered handbags, seashell jewelry and shell-art crafts. And, all these products are also available in TamilNadu Co-optex Sales Emporium called as Poompukar. Tourists are attracted by these works and shop them for themselves and their loved ones back home. With Rock memorials, tourist can shop many interesting books on the life and philosophy of Swamy Vivekananda, Thiruvalluar and Mahathma Gandhi in shops near the memorial which are run by the Government. The miniature models of the statue and memorial also available in various shops. Near Padmanabapuram Palace, there are many handicraft shops selling attractive wood works. A Kerala architectural sculptures, wood carvings, silver coated jewels are major attractions of these shops. Holiday Packages: Private Websites and Travel agencies allowed various packages like honey moon packages, family packages in a specific price. The packages are like two days and one night packages, six days and seven night packages are also available. It includes A/C and Non A/C accommodation, food, guide and map (on requirement). It is available for couple as well as family. Some packages exempted for children under the age of 10. Refund of packages also possible under the Hotels Cancellation Policy. Hotels: There are 4 Three star hotels, 6 Two star hotels and many budget hotels, lodges, resorts are available for accommodating the tourists. They welcome their customers with the welcome chain or flower bouquets, offer them free gifts, chocolates, barbeque at night, buffet at week ends. These Star hotels have swimming pool facilities, bar, kids park, tennis court, fascinating parking space, high-class restaurant, health club, massage parlour, conference hall, children indoor and outdoor play area, greenish and peaceful environment with the sea view rooms. Room rent for Star hotels starts from Rs.3000 onwards per day. From the luxuriously appointed villas to the captivatingly picturesque ambience, mesmerizing ethnic charisma to the plush ultramodern facilities, from the finest selection of cuisine to the warm and attentive service, the tour experience is unparalleled by these hotels. Other hotels start from Rs.1000 onwards per day and lodges from Rs.300 onwards per day. These hotels offer special discounts for educational tours, senior citizens and group bookings. Also hotel rental service is available to tourists in difference categories like Executive, Deluxe, Standard and Budget.

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Transportation Facilities: Travel agencies, packages from hotels offer not only budget rental cars in Kanyakumari, but serve the world status and high class budget hotel rental service and tour packages with professional English speaking drivers. With a well trained drivers and developed tourist information, cabs have all kinds of cars like Tata Indica, Ambassador, Toyota Qualis, Tata Indigo, Chevrolet Tavera, Ford Ikon, Toyota Innova, Tempo Traveler and Coaches. Online booking and air conditioner vehicles are also provided according to the convenience of the tourists. Other Marketing Tools: Along with the above, there are some additional tactics were made by the TamilNadu State Tourism Development to attract more tourists. A.) Building of Memorials: Vivekananda Rock Memorial is a sacred place and popular tourist attraction in Kanyakumari. The memorial stands on one of two rocks located about 500 meters off mainland, India's southernmost tip. It was built in 1970 by the Vivekananda Rock Memorial Committee in honour of the visit of the great spiritual teacher Swami Vivekananda. The picture of this memorial was the symbol of tourism in Kanyakumari till 2000. The Thiruvalluvar Statue is 133 feet (40.5 meter) tall stone sculpture of the Tamil poet and saint Tiruvalluvar, author of the Thirukkural. It was opened on January 1, 2000 (Millennium) and is located atop a small island near the town of Kanyakumari, where two seas and an ocean meet; the Bay of Bengal, the Arabian Sea, and the Indian Ocean. After 2000, this statue has become a symbol of Department of Tourism and Culture in TamilNadu. This is one of the marketing strategies of Tourism Board used to bring out Kanyakumari into worlds eyes. The Government offer paid ferry services to view these memorials. B) Amusement Park: Baywatch, multi Entertainment Park at sunset point offers a unique way to experience in Kanyakumari. With the recently added wax museum, Bay watch is the only park in Asia to house a wax museum. It also has other attractions like swing chair, mystery world and bowling net, etc. C) Light House: The beach also houses a lighthouse on its shore. It was built 100 year ago. It is situated on a land mass around 105 feet above sea level. It is a tower like structure built to give guidance and warning to ships. It contains a beacon light to serve as an aid to navigation. D) Developing Wild Life: The virgin forests of Kanyakumari District got transferred from Kerala to Tamil Nadu. Kanyakumari Forest Division came into existence from 1st April 1977, with the headquarters at Nagercoil. Government Reserved Forests occupy an area of 30.2% in the total geographic area of the Kanyakumari District. Variety of wildlife like Jungle Cat, Small Indian Civet, Mangoose, Jackal, Indian Fox, Dhole or Indian Wild Dog, Sloth Bear, Otter, Large Brown Flying Squirrel, Flying Fox, Indian Gaint Squirrel, Indian Porcupine, India Hare, Indian Elephant, Gaur or India Bison, Nilgiri Tahr, Chital or spoted Deer, Black Buck or Indian Antelope, Sambar, Barking Deer, Mousse Deer or India Chevrotain, Wild Boar can be seen in this division. E) Promoting Bird Sanctuary: Suchindram is noted for the wide variety of migratory water birds that winter there, we could see painted stork and spot-billed pelicans. Also seen here are cattle egrets, great cormorants, darters, purple swamp hen, and bronze-winged Jacanas.

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F) Plastic-Free District: During 2009, Plastic Free Kanyakumari (PFKK) Campaign has introduced and carrying plastic bags are banned in this district to protect the natural environment and beauty of it. SUGGESTION Kanyakumari district has been a great centre for art and religion for centuries. It was also an area of heavy commerce and trade. It was ruled by the Cholas, the Cheras, the Pandyas and the Nayaks. The architectural beauty of the temples is the work of these rulers. The old sculpture and temples must be protected. Awareness programmes must be conducted through educational institutions to educate about the importance to safeguard the tourist spots. The natural beauty of the sea and sea shore must be maintained properly. More cultural programmes and food festivals can be conducted by private and public sectors. When comparing with other tourist spots, road facility was found unsatisfactory. Other than National Highways, Sub-ways must be replaced and widen to bring more travellers. All the tourist spots can be patrolled by public and private guards for the safety of tourists. CONCLUSION To conclude, Kanyakumari possesses every thing. The rich cultural heritage, sculptures, sprawling beaches, highest mountains, hills, palaces, temples, delicious cuisine, rare mixture of life style etc, which makes it a 'Cross Cultural Paradise' stays on 'Unity in Diversity'. The Government and private sector need to work earnestly and with a commitment to develop this, a most attractive tourism destination in the world. The author touches the necessary facts and figures, option of marketing, strategies and techniques to woo international visitors and also to encourage domestic tourism. REFERENCE Books and Journals Vijayanand, S (2010) Socio-Economic Impacts in Pilgrimage Tourism, International Journal of Multidisciplinary Research Vol.2 Issue 1, January 2012, ISSN 2231 5780. Jha, S.M (2011) Tourism Marketing, Himalaya Publishing House, New Delhi. Hollowway, C (2011) Marketing for Tourism, Pearson Prentice Hall, NewJercy. Sunanda Easwaran et.al (2006) Marketing Research, Oxford University Press, Chennai. Dr.Johanraj, S, et.al (2007), Vision 2020-Kanyakumari, Kanyakumari Resource and Research Centre, Nagercoil. Paul Baines, et.al (2008), Marketing, Oxford University Press, Chennai Jesim Pais (2006), Tourism Employment-An Analysis of Foreign Tourism in India, ISDI Reports Annual Report, (2001-2002), Department of tourism, Government of India. Annual Report, (2004-2005), Department of tourism, Government of India. Annual Report, (2007-2008), Department of tourism, Government of India. Annual Report, (2010-2011), Department of tourism, Government of India. Websites www.tourism.gov.in www.kanyakumari.org

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www.kanyakumariholidays.com www.tamilnadutourism.org www.tn.gov.in

RECENT TRENDS AND EMERGING PRACTICES IN RETAILER PRICING R. MARY SOPHIA CHITRA, Lecturer, Department Of Commerce, The American College, Madurai 2. Introduction Retailing is a business activity dealing with buying and selling of goods and services in a small level to the ultimate consumers. Purchasers of this business are individuals who are not business buyers but they buy it for their personal or family consumption. The retail industry is divided into organised and unorganised sectors. Though the organised retailers like the chain stores and supermarkets operate in many places, the unorganised retailers, that is traditional formats of low cost retailing like local kirana shops, owner manned general stores, pawnshops and convenience stores and the like operate in a specific area and their area of operation is small. Both organised and unorganised retail sectors are prevailing in Indian Market. In fact, Indian Retail Sector is highly unorganised. The first challenge facing the organised retail industry in India is competition from the unorganised sector. Traditional retailing was established in India some centuries ago. It is a low cost structure, mostly owner-operated, having lower labour cost and little or no taxes to pay. The traditional retailing sector runs from generation to generation. So, consumer familiarity is the greatest advantage of this unorganised sector. Grocery Retailing The face of grocery retailing in India is seeing changes due to huge investments made by corporate. When organized retailing started in the country, it was attracted only by the upper strata of the society. But with promotional schemes, quality and other offerings, they have gained popularity among the middle class people also. But the traditional retail outlets offer the advantages like personal attention and acknowledgement to the customers furnish products on demand, deliver orders at home, selling fresh and quality products without stocking of merchandise. So, till date grocery retailing in India is dominated by familyowned shops. This is disorganized where no regularity in inventory or promotional scheme is maintained. The shops are scattered and has also come up in residential areas, where they get advantage of being at the closer proximity to the customers. Statement of the Problem In India after 1991, there have been continuous changes in all sectors due to reforms. In addition to this, the nation enters in to new phenomenon of LPG. These affect Indianmarket in all aspects. In this line of action, retail marketing gets a new outlook and vast changes have been attained. At present, due to change of culture and influence of western culture, the Indian working community prefer modernized and hygienic-packed product having instant character. Such types of products are mostly available in organised retail market. On the other side, a group of non-working community likes to avail service at corner store due to their economic condition. However these two different types of retail system follow different methods of attracting customers. In fact, both types of retail systems are growing very fast in spite of global economic crisis.

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Pricing is a critical decision for the retailer and influences the effective realisation of all other marketing goals. Various factors like consumer, supplier, government, competitor and the like affect the pricing decision of the retailer. Setting the right price can influence the buying decision of the consumers, which in turn determine the total revenue and the profit of the retail store. The right price is the price that the consumer is willing to pay. Therefore, sound pricing decisions are important to successful retail business. The pricing technique used by most retailers is cost-plus pricing. This involves adding a markup amount or percentage to the retailers cost. Another common technique is suggested retail pricing. This simply involves charging the amount suggested by the manufacturer and usually printed on the product by the manufacturer. In western countries, retail prices are called psychological prices or odd prices. Often prices are fixed and displayed on signs or labels. Alternatively, when prices are not clearly displayed, there can be price discrimination, where the sale price is dependent upon which the customer is. In this context, an attempt is made to study how the unorganised grocery retailers are fixing the prices for their products. Objectives The following are the objectives of the study. 1. To examine the pricing objectives of the retailers. 2. To analyse the factors considered in fixing the prices. 3. To offer suggestions based on the present study. Scope

This study covers only the unorganised retail grocery shops in Madurai City only. This study is mainly oriented towards the pricing strategy adopted by the unorganised retail grocery shops in Madurai City.

Methodology Sample Design This study is based on primary data and the necessary data required for the study were collected through the interview schedule. Random sampling has been adopted for the present study in Madurai City. The data were collected from the 50 selected respondents. Limitations This study has certain limitations. The sample size was relatively small and drawn from a specific geographical region (only Madurai city). The data was collected only from the unorganised grocery retailers. Framework of Analysis To make the raw data fit for analysis, the filled-in interview schedule was scrutinized and the data processing was done with the help of SPSS 14.0 students version. Percentile Analysis, Simple scaling technique and Weighted Arithmetic Mean were used for analysis. Analysis and Interpretation The following results are derived from the study. 1 Age Age is an important criterion to identify ones maturity in running business. Different age groups have different attitudes. In this context, the age-wise classification of respondents is presented in Table 1

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Table 1 Age-wise Classificationof Respondents Age Frequency Per cent 21 30 years 22 44 31 40 years 15 30 Above 40 years 13 26 Total 50 100 According to table 1, 44 per cent of respondents are in the age group of 21 30 years, 30 per cent are in the age group of 31 40 years and the remaining 26 per cent are in the age group of above 50. 2 Educational Qualification Educational qualification is an instrumental in inducing new idea and determines the way in which they are doing business and taking decisions. It is given in Table 2 Table 2 Educational Qualification of Respondents Educational Qualification Frequency Per cent Illiterate 8 16 Elementary 17 34 High School 20 40 Higher Secondary 2 4 Graduate 3 6 Total 50 100 It is found from the table 2, that 40 per cent of the respondents are with high school level, 34 per cent are with elementary level education and 16 per cent are illiterates. It is evident from the table is that most of the respondents are with high school level education. 3 Monthly Income Income is a vital factor that influence in choosing a particular business. It is the ultimate effort on respondents attitude to continue the venture in future. Thus, the results are depicted in Table 3 Table 3 Income of Respondents Income Frequency Per cent Below Rs. 5,000 9 18.4 Rs. 5,000 Rs. 10,000 34 69.4 Rs. 10,000 Rs. 15,000 4 8.2 Above Rs. 15,000 2 4.1 Total 49 100 From the table 3, it is found that 69.4 per cent of respondents have monthly income ranges between Rs. 5,000 Rs. 10,000, 18.4 per cent have income below Rs. 5,000, 8.2 per cent between Rs. 10,000 Rs. 15,000 and 4.1 per cent have income above Rs. 15,000. 4 Experience Experience in the business will develop the knowledge as to how to manage the cost, increase sales and stock levels. Thus, the information relating to experience is gathered and presented in table 4. Table 4 Experience of respondents Experience Frequency Per cent Below 10 years 12 24 10 15 years 18 36

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Above 15 years 20 40 Total 50 100 From the table 4, it has identified that, 24 per cent of the respondents have experience below 10 years, 36 per cent with 10 15 years and the remaining 40 per cent have experience above 15 years. 5Location and Pricing Strategy Table 5 exhibits the relationship between the location of the business and the pricing strategy adopted by the retailers. Table 5 Location and Pricing Strategy Location Total Pricing Strategy CostDemandCompetitionoriented oriented oriented Free standing Location 10 (71.4%) 3 (21.4%) 1 (7.1%) 14 Unplanned shopping centre 8 (100%) 0 0 8 Planned shopping centre 25 (96.1%) 1 (3.9%) 0 26 Total 43 4 1 48 It is evident from the table5, 71.4 per cent of the respondents having their shop in freestanding location, 100 per cent in unplanned shopping centre and 96.1 per cent in planned shopping centre follow the cost-oriented pricing strategy. It is clear from the analysis that the majority of the retailers are fixing the prices based on the cost incurred. 6 Pricing Objectives Retail pricing objectives provide direction to the whole pricing process. While deciding the pricing objectives, the retailers consider the factors like profit, market share and the like.Six pricing objectives were given in the schedule and the respondents were asked to rank them. The objectives, ranks, the scores assigned and the weighted arithmetic mean were presented in Table 6 Table 6 Pricing Objectives S.N o. Objectives Rank Scores I 6 II 5 III 4 IV 3 V 2 VI 1 Total Rs. Weight ed Arithm etic Mean 3.90 6 2 3 4 5 6 To achieve a targeted market share To stabilize the prices To maximize current sales revenue To penetrate in to market quickly To get maximum profits (24) 4 (60) 10 (30) 5 (24) 4 (126) 21 16 (45) 9 (15) 3 (50) 10 (10) 2 (50) 10 9 (52) 13 (40) 10 (20) 5 (36) 9 (12) 3 11 (30) 10 (15) 5 (27) 9 (36) 12 (9) 3 2 (24) 12 (16) 8 (26) 13 (26) 13 (2) 1 6 (1) 1 (14) 14 (8) 8 (9) 9 (12) 12 50 (176) 50 (160) 50 (161) 50 (141) 50 (211) 50 3.52 3.20 3.22 2.82 4.22

To achieve targeted rate of return on investment

(36)

(80)

(36)

(33)

(4)

(6)

(195)

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From table 6 it is clear that, getting maximum profits is the main objective of fixing prices. Achieving the targeted rate of return on investment occupies the second position. Next to this, achieving the targeted market share is an important objective and maximisation of sales revenue, stabilisation of prices, quickest penetration in to the market occupies fourth, fifth and sixth position at the time of fixing prices for their products. 7Factors influencing the Pricing Fixing the prices to the products is an art. Sound pricing decisions are important to successful retail business. Various factors are considered while fixing prices. These factors were analysed with simple scaling technique and was presented in Table 8

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Table 7 Factors influencing the pricing Factors Rank Score I 10 (10) 1 Cost Demand Store policies (prestige image) Competitors price Economic condition Suppliers Substitute products Complementary products Government (380) 38 (50) 5 (10) 1 (40) 4 (10) 1 II 9 (63) 7 (72) 8 (180) 20 (27) 3 (54) 6 (27) 3 (9) 1 (9) 1 (9) 1 III 8 (64) 8 (16) 2 (72) 9 (8) 1 (80) 10 (24) 3 (64) 8 (64) 8 (8) 1 IV 7 (35) 5 (14) 2 (28) 4 (14) 2 (21) 3 (49) 7 (84) 12 (63) 9 (49) 7 V 6 (36) 6 (24) 4 (12) 2 (30) 5 (66) 11 (54) 9 (18) 3 (60) 10 VI 5 (25) 5 (15) 3 (25) 5 (50) 10 (30) 6 (20) 4 (45) 9 (30) 6 (10) 2 VII 4 (20) 5 (4) 1 (44) 11 (8) 2 (24) 6 (28) 7 (32) 8 (36) 9 (4) 1 VIII 3 (15) 5 (9) 3 (33) 11 (15) 5 (12) 4 (12) 4 (21) 7 (21) 7 (12) 4 IX 2 (12) 6 (18) 9 (6) 3 (20) 10 (8) 4 (8) 4 (16) 8 (12) 6 X 1 (2) 2 (1) 1 (5) 5 (2) 2 (1) 1 (1) 1 (37) 37 Total (282) 50 (482) 50 (383) 50 (196) 50 (306) 50 (252) 50 (289) 50 (261) 50 (230) 50 (75) 50 I II IX III VII IV VI VIII X Rank V

Target market/customers

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It is evident from the table 7 the cost is given highest consideration for fixing prices which secured first rank. Next to this, the demand for the product is affecting the pricing decision and the competitors price scored third rank is considered next while fixing the prices. Thus, it is clear from the analysis that the cost is given much importance while fixing the price for the product. SUMMARY The analysis of the socio-economic characteristics of the retailers reveals that most of the respondents (92%) are male belonging to the backward class (60%). 72 per cent of the respondents are married. Moreover, their educational qualification is moderate and the majority of the respondents in the study area were with high school level education and undergone this business as a family venture. The analysis further reveals that, 50 per cent of the respondents start this business out of their own interest and 44 per cent of the respondents are influenced by their friends. 56 per cent of the respondents start the business by themselves and 34 per cent of the respondents are running the business which was established by their father. The retailers in grocery units are having enough experience. It is clear from the analysis that, 63.3 per cent of the respondents are availing discounts from the vendors and 55 per cent of them are getting trade discount. But only 34 per cent of the respondents are providing discounts to their regular customers. Among them 64.3 per cent are offering price discounts. 78 per cent of the respondents are having fixed prices for their product and they did not allow bargaining in their shops. 60 per cent respondents are having resale price maintenance. It is also clear from the analysis that the majority of the retailers are fixing the prices based on the cost incurred.Further the analysis reveals that, getting maximum profits is the main objective of fixing prices. SUGGESTIONS Based on the findings of the study, the researcher has made the following suggestions. The retailers can offer discount to their customers to increase the sales. They can offer price concessions to their regular customers to motivate them to buy the products in their shop. Consumers are the king of the market. So, while fixing the prices consumers can be given importance than cost even though profit is the important objective of any business. CONCLUSION Nowadays, the number of vehicle is more, leading to strict and less parking space. If the buyers want to buy the goods and services from shops which are for away from their home, it will take long time to buy the products. So, to avoid all these problems, consumers buy goods from the shops which are situated nearer to their homes. Groceries are bought by the consumers usually on monthly basis and they make an order in the very familiar neighbourhood grocery store which never runs out of stock of the favourite brands of the consumers. If the specified brand is not available, he gives a very reliable alternative which he agrees to take back if the performance falls short of expectations. He knows the consumers by name, is familiar with the consumers family, maintains credit diary, gives an extra incentive for being an old customer and often gives the consumers delighting priceson the consumers favourite items and is very flexible.The day to day needs of the consumers, their immediate needs and the change of needs have to be satisfied. To attract the customers,

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it becomes necessary for both the organised and unorganised retailers carryout the promotional activity. BIBLIOGRAPHY Books 1. Swapna Pradhan, Retailing Management text and cases, Tata McGraw-Hill Publishing Company Limited, New Delhi, 2004. 2. James R. Ogden & Denise T. Ogden, Integrated Retail Management (Indian Adaptation), Biztantra, New Delhi, 2005. 3. Meenal Dhotre, Channel Management and Retail Marketing, Himalaya Publishing House, 2005. Articles 1. Grocery Retailing Why people buy from organised retailers, Marketing Mastermind, March 2007. 2. Consumer Buying Behaviour and Food Retailing, Marketing Mastermind, December 2007. 3. Indian Retail New Face of India, Marketing Mastermind, September 2007.

BRAND MANAGEMENT- AN EFFECTIVE STUDY TO BRING OUT THE CUSTOMERS LOYALTY & BRANDS ASSET VALUE D.Joshua Pradeep Introduction The term Brand defined By American Marketing Association States a name, term, symbol or design or a combination of them, intended to identify the goods or services of one seller or group of seller and to differentiate them from those of competitors. Branding is endowing products and services with power of a brand. Branding is all about creating difference. Branding involves creating mental structures and helping consumer organise their knowledge about product and services in a way that clarifies their decision making and in the process, provide value to the firm. Need of Managing Brand Equity Effective brand Management requires a long term view of marketing decision. Because consumer responses to marketing activity depends on what they know and remember about a brand, short term marketing actions, by changing brand knowledge, necessarily increase or decrease the success of future marketing actions. Additionally a long term view results in proactive strategies designed to maintain and enhance customer based brand equity over time in the face of external changes in the marketing environment and internal changes in a firms marketing goals & program Objective of the Study To Bring out Brands Customer Loyalty To Assess the Brand Asset Value To Present the Brand Management Methodology Researcher has adopted the following Methodology. The data collected from respondents, adoption of sampling technique & determining a sample size and Millward Browns Dynamic Pyramid is used as a frame is dealt in this methodology.

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Data Collection: Primary data collected through questionnaire Sample design: since the universe is unknown the sampling technique is taken under un probable sampling method by Convenient Sampling Sample Size: A sample size of 50 is taken into consideration of this study. Limitation: The respondents have been restricted to a number of 50 and the area covered is within Madurai. Statistical tool Used: A comparative chi square test is applied in this study. About the study: Using Millward Brown International Brand Dynamic Pyramid they customers loyalty is studied by framing a questionnaire based on it. It is taken based on branded footwear present in the market. How they prefer and how much they are loyal to the particular brand is studied. Brand Dynamic Pyramid According to this model, Brand building involves sequential series of steps, where each step is contingent upon successes fully accomplishing the previous step. The below Steps are in ascending order Presence- A respondent comes in this level if - spontaneously aware of the brand - Has purchased/ tried the brand - Aware of the brand Relevance - A respondent comes in this level if Meets need , does not have reason not to buy the brand such as appeals less, too much cheap or costly Performance - A respondent comes in this level if - Technologically and quality are not as advanced as other brand Advantages- An advantage for the brand - Acceptable price, appeals, differ from other brands, growing popular, higher quality Bonding -Based on the advantage level following are taken for the respondent - Branded share of endorsement for each of the advantage - Impotence of each statement at the bonding level

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age * product awareness Product awareness age advertisement Monthly income * Quality below25 10 Quality 26-30 5 Monthly income yes no 31-35 5 Rs.10000-Rs.15000 10 0 36-40 5 Rs.15000-Rs.20000 15 5 above40 20 00 Rs.20000-Rs.25000 Total 45 25 Total 5 through friends 0 Total5 0 10 0 20 20 5 50 10 newspaper 0 10 0 5 0 15 Total Chi-Square Tests 10 Pearson 20 Chi-Square Likelihood Ratio 5 Linear-by-Linear 10 Association 5Valid Cases N of 50 Value 43.750a 47.514 1.903 50 df 8 8 1

Chi-Square Tests Chi-Square Tests Asymp. Monthly income * brand prefer Cross tabulation Brand prefer Pearson Chi-Square Monthly income Rs.10000-Rs.15000 Rs.15000-Rs.20000 Rs.20000-Rs.25000 Total woodland 0 5 15 20 Sig. (2sided) Value a 37.500 6 .000 Pearson Chi-Square 8.333a Total 6 Ratio.000 Likelihood Ratio bata 50.040 nike lee cooper Likelihood 10.015 Linear-by-Linear 9.722 1 .002 0 5 5 10 Linear-by-Linear .389 Association Association 5 10 0 20 N of 50 Cases 5 50 0N of Valid 0 20Valid Cases 5 15 10 50 Value df df 2 2 1

Monthly income * Bonding Chi-Square Tests Bonding Monthly income yes no Rs.10000-Rs.15000 10 0 Pearson Chi-Square Rs.15000-Rs.20000 5 15 Likelihood Ratio Rs.20000-Rs.25000 15 5 Linear-by-Linear Total 30 20 Association N of Valid Cases Total Value 10 18.750a 20 22.314 20 50 .146 50 df 2 2 1 Asymp. Sig. (2-sided) .000 .000 .703

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Hypothesis The above chi square test is checked with1% level of significance as the calculated chisquare test Values are .000 is less than the probable value, the hypothesis is accepted. Hence there is relationship between age and product awareness .000 is less than the probable value, the hypothesis is accepted. Hence there is relationship between Monthly income and Brand preference .016 is less than the probable value, the hypothesis is accepted. Hence there is relationship between Monthly income and Quality 000 is less than the probable value, the hypothesis is accepted. Hence there is relationship between Monthly income and Bonding Brand Asset Valuation Advertising agency Young and rubican developed a model of brand equity called Brand Asset Valuator. Based on research with almost 200,000 consumers in 40 countries. BAV provides comparative measures of the brand equity of thousands of brand across hundreds of different categories. The four key components are. Differentiation measures the degree to which a brand is seen as different from others Relevance measures the breath of a brands appeal Esteem measures how well the brand is regarded and respected Knowledge measures how familiar and intimate consumers are with the brand Differentiation and Relevance combine to determine Brand Strength. These two pillars points to the brand future value and Esteem and Knowledge create Brand Stature which is more of a report card on the past performance. Brand Management It is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the products perceived value to the customers and thereby increase brand franchise and brand quality. Marketers see a brand that will continue with present and future purchase of the same product. This may increase sales by making a favorable comparisation with a competing product. The value of the brand is determined by the amount of profit generated for the manufacture. This results from a combination of increased sales and increased Price. A powerful tool like a brand cannot be created in a vacuum or from thin air. It requires following certain principles and should have a developed procedure along with a wellsupplements research base. All these issues make branding a real art, which uses welldefined and established principles but can be refined as well as mastered by practice. It is something that influences us in several ways & leaves a deeping impact on all of us. This art of creating and maintaining a brand is called brand management. Brand Management is a philosophy and a total approach to managing companies and as such includes much about changing minds. Brand management starts with understanding what Brand really means. This starts with the leaders of the company who define the brand and control its management. It also reaches all the way down to the company and especially to the people who interact with customers or who create the products that customers use. Brand

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management performed to its full extent means starting and ending the management of the effort and requires commitment, support and contribution from each person in the company. Conclusion To succeed companies must manage brand with both hands. They must strive for superiority on basis like the brand price, performance, features and imagery at the same time, they must learn to manage a brand characteristics which often separate winner from losers Brand need to be managed well especially when they are planned to have a image. Managing of brand essentially involves managing brand equity and its performance at the market place. Bibliography Marketing Management 12th edition.-Philip Kotler, Kevin Lane Keller, Abraham Koshy and Mithileshwar Sha- Creating Brand Equity Marketing Research by Debashis Pati Indian Journal Of Marketing (nov 2009)- Brand Strategies for Globalisation- Dr. M. Yadagivi & N. Sreenivas Indian Journal Of Marketing ( April 2009) Managing Global Brands- Prof Nitin S. Dhopeshwar

CUSTOMER SATISFACTION OF INSURANCE SERVICES IN RURAL AREAS Dr.G.Santhiyavalli, Associate Professor, Department of Commerce, Ms.A.Karthika, Research Scholar, Department of Commerce, Avinashilingam Institute for Home science and Higher Education, Coimbatore. Abstract The Rural markets have been a vital source of growth for most companies in India. Rural marketing involves addressing around 700 million potential consumers, over 40 per cent of the Indian middle-class, and about half the country's disposable income. Though the rural health insurance market is huge, it has so far remained untouched. The health insurance providers face lot of hurdles and challenges in reaching the rural population due to various factors such as lack of healthcare facility, belief in non-medical means, problem of accessibility to institutional healthcare etc. Therefore, to sustain in the market, service quality becomes a most critical component of competitiveness in the recent phenomenon. The present study is concerned with the quality of service rendered by the New India Assurance Company regarding health insurance. Customers awareness about different health insurance policies, service quality expectation and perception level of policy holders and the factors influencing service quality of the firm form part of the study. The SERVQUAL technique was adopted for collection and analysis of data by using 22 variables grouped under five dimensions Tangibility, Reliability, Responsiveness, Assurance and Empathy using 7 points Likert scale. This was based on the SERVQUAL tool developed by Parasuraman et al (1988). The findings of the study revealed that in New India Assurance Company, the five factors of service quality accounted for 69.45 percent satisfaction level indicates that there is scope to improve the quality of service delivery. Key Words: Rural Marketing, Health Insurance, Service Quality Introduction

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Rural marketing is a process of developing, pricing, promoting and distributing rural specific goods and services leading to desired exchange with rural customers to satisfy their needs and wants, and also to achieve organizational objectives. The Indian rural market with its vast size and demand offers great opportunity to marketers. The insurance market in India, liberalized in 2000 with the advent of private insurance companies has not expanded in real terms beyond the urban domain. There exists a vast potential in the rural areas where more than 70% of our population lives. Today significant portion of the rural population which is engaged in pure agriculture is slowly withdrawing from it. A lot of people belonging to the younger generation are getting white-collar jobs. Thus insurance companies have lot of opportunities to penetrate in the rural India. The health insurance occupies 35% of the total business of a non life insurance industry in India. Health Insurance is a type of insurance coverage that pays for medical and surgical expenses that are incurred by the insured. Health insurance can either reimburse the insured for expenses incurred from illness or injury or pay the care provider directly. At present there are 22 health insurance companies in India, out of that 4 are public sector companies. There are currently over 7 crore health insurance customers with a total premium of Rs 11,000 crore. Customer Satisfaction and service quality Customer satisfaction is a measure of how products and services supplied by a company meet or exceed customer expectation. It is a highly personal assessment and is greatly influenced by individual expectations. In order to achieve customer satisfaction, organizations must be able to satisfy their customers needs and wants. Customer satisfaction does have a positive effect on an organizations profitability. Service quality is a focused evaluation that reflects the customer's perception of specific dimensions of service: reliability, responsiveness, assurance, empathy and tangibles. Service quality affects customer satisfaction by providing real benefits. The service will be considered excellent, if perceptions exceed expectations; it will be regarded as good or adequate, if it only equals the expectations; the service will be classed as bad, poor or deficient, if it does not meet them. Research Objectives The research study was conducted with the following objectives: 1. To study the awareness about different health insurance policies among the respondents. 2. To analyse and compare the service quality perceptions and expectations of the policy holders, using SERVQUAL model. 3. To determine the factors influencing service quality of the firm. Research Methodology The present study is concerned with the quality of service rendered by the New India Assurance Company regarding health insurance. A non-probability sampling procedure namely convenience sampling method was used to select sample respondents for the study. Totally 125 questionnaires were distributed to the health insurance policy holders of the company. The data was collected from the respondents belonging to the rural areas of Coimbatore district. Analysis and Findings The current study aims to measure the service quality of New India Assurance Company regarding health insurance using SERVQUAL technique based on customers expectation and their perception. The SPSS software package 16.0 version was used for analyzing the data collected for the study.

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(A) Socio-economic profile of the respondents Most of the respondents were between the age of 41-50 years (36%), male occupies majority (84%), 45% have studied up to high school, Business people constitutes 65%, 79% of them earn an annual income of Rs. 2,00,000 to 5,00,000, 84% were married and 77% were in joint family. (B) Awareness about different Health Insurance Policies among the respondents Majority (66%) of the respondents have come to know the insurance company through their agent, total sum assured for their family (60.8%) was between Rs.1 lakhs-5 lakhs, most of them (80%) have taken one policy, 78% make their premium payment through their agent, majority (65.6%) preferred settlement of claims through the third party administrators. (C) Evaluation of service quality expectations and perceptions of the policy holders Reliability analysis for service quality expectation and perception scales To test the reliability of the set of items forming the scale, a measure of construct reliability (Cronbachs alpha) was computed. Reliability analysis has been done with the help of Cronbachs alpha coefficients to measure the reliability of various factors that influence the expectation and perception level for service quality of the respondents. Table 1 Reliability analysis for service quality expectation and perception scales Service Quality Expectation level Perception level Number of items 22 22 Cronbachs alpha 0.968 0.973

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Based on primary data In any social science research a reliability coefficient of .70 or higher is considered acceptable", suggesting that the items have relatively high internal consistency. The Table 1 show that, the Cronbachs alpha for expectation level of the respondents is at 0.968 and for the perception level is 0.973. Hence, it is inferred that for expectation and perception level all the factors namely Tangibility, Assurance, Reliability, Responsibility and Empathy have high reliability. Multiple Regression analysis for the service quality perception levels of customers To identify the variables that contribute for higher level of perception of respondents regarding service quality of the insurance companies, multiple regression analysis was done. Table 2 Multiple Regressions for the service quality perception levels Based on primary data From Table 2, using beta coefficients of multiple regressions, it is inferred that among the various variables of five factor dimensions, the variables that contribute for higher level of perception are convenient branch locations (Tangibility), fulfilling promises in timely manner (Reliability), faster service (Responsibility), knowledge and competence to solve problem (Assurance) and convenient operating hours (Empathy). The beta coefficient values of the above variables exceed 0.25 indicating that all the derived variables are highly significant. Factor analysis for the service quality perception levels of respondents To determine the factors that influence the perception level of service quality of the respondents of both the health insurance companies, the factor analysis was done. For the purpose, Kaiser-Meyer-Olkin (KMO) Measure of Sampling Adequacy (MSA) and Bartlett's Test of Sphericity were applied and the appropriateness of data for factor analysis was tested. Table 3(a) KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. Approx. Chi-Square Bartlett's Test of Sphericity Based on primary data Df Sig. .934 2.824 231 .000

S.No 1 2 3 4 5 Tangibility Reliability

Perception level Convenient branch locations Fulfil promises in timely manner Faster service Knowledge and competence 127 to solve problem Convenient operating hours

Beta coefficients .389 .450 .270 .370 .415

Partial correlations .409 .627 .377 .656 .575

Significance .000 .000 .000 .000 .000

Responsibility Assurance Empathy

Table 3(b) Rotated Component Matrix Components Variables 1. Physical appearance of the staff 2. Convenient branch locations 3. Latest technology in providing services 4. Information availability 5. Fulfil promises in timely manner 6. Service right in first instance 7. Flexible premium payment schedule 8. Accurate records to the customers 9. Prompt service 10. Efficient grievance handling mechanism 11. Hassle free claims settlement 12. Faster service 13. Approaches from customers point of view 14. Knowledge and competence to solve problem 15. Not misuse personal information 16. Trustworthy and honest 17. Clarity in explaining policys terms and conditions 18. Simple and less time consuming procedure 19. Informed about service performed and price charged 20. Concern and understanding of customers problem 21. Customers best interest 22. Operating hours convenient Eigen value % Of variance Cumulative % Based on primary data The Kaiser-Meyer-Olkin Measure of Sampling Adequacy value was found to be excellent (0.934) and the estimated chi-square value of KMO and Bartletts test was 2.824. It was statistically significant at one percent level (p<0.001). It indicates that the estimated model had better fit to explain the variation in the dependent variable i.e. perception level of the respondents. The commonly used procedure of varimax orthogonal rotation for factors, 0.637 14.171 64.414 64.414 0.758 0.638 0.745 0.789 0.765 0.735 0.818 0.776 0.655 0.758 0.747 0.682 0.614 0.728 0.681 1.108 5.036 69.450 0.626 0.644 1 0.663 0.744 0.667 0.734 2 0.690 0.810 0.715 0.761 0.733 0.690 0.698 0.601 0.701 0.757 0.754 0.728 0.768 0.712 0.556 0.608 0.680 0.730 0.539 0.642 0.742 0.726 Communalities

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whose Eigen values were greater than 1.0, was employed in the analysis. The factors so generated had Eigen values between 1.108 and 14.171. The values of communalities ranged from 0.539 to 0.810 for various statements which means that factor analysis extracted a good amount of variance in the statements. Factor I resulted with variables 7and 9 which fall under reliability factor, 10, 11, 12 and 13 fall under responsibility factor and 14 under assurance factor. They account for 64.4 percent of the total variance. Factor II resulted with variables 2 and 4 falling under tangibility factor, 16 and 17 under assurance factor and 20 under empathy factor. They account for 5 percent of the total variance. The factors identified from the factor analysis are presented in Table - 3(c) Table 6(c) Factor Extraction Factor 1 Flexible premium payment schedule Prompt service Efficient grievance handling mechanism Hassle free claims settlement Faster service Approaches from customers point of view Knowledge problem and competence to solve Factor 2 Convenient branch locations Information availability Trustworthy and honest Clarity in explaining policys terms and conditions Concern and understanding of customers problem

The five factors presented in Table 3(b) accounted for 69.45 percent of explained variance which is higher than the normal value of 50 percent. This indicates that there is scope for the New India Assurance Company to improve the quality of service delivery in order to achieve higher level of customer satisfaction. It can concentrate on introducing measures such as disclosing accurate records to its customers, simplification of policy procedures and informing the customers about new charges clearly with no hidden information and ensuring quality service from the time the individual approaches the company for insurance service. Conclusion The Rural marketing environment is complex and is changing continuously. The marketing organization should foresee and adopt strategies to change in requirements in the market. An adaptive organization can stand competition or have a modest growth. The health insurance segment has picked up pace in the last two fiscals and is set to reach new heights in the coming few years. With a greater choice and an increasing awareness in rural areas, there is a continuous increase in the customers expectations and they demand better quality service. Therefore, to sustain in the market, service quality becomes a most critical component of competitiveness in the recent phenomenon. The findings of the study revealed that the five

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factors of service quality accounted for 69.45 percent satisfaction level. To improve the quality of service delivery and to achieve higher level of customer satisfaction, the company can concentrate on introducing measures such as disclosing accurate records to its customers, simplification of policy procedures and informing the customers about new charges clearly with no hidden information and ensuring quality service from the time the individual approaches the company for insurance service. References Benjamin Schneider, Susan S. White (2004), Service Quality: Research perspectives, SAGE publications, New Delhi. Dogra, Rural Marketing, Mc Graw Hill Education publishers, New Delhi, 2007. Manju malik (2012), A study on customers satisfaction towards service quality of organised retail stores in Haryana, Indian journal of marketing, Feb 2012, pp5160. Parasuraman.A, Berry.L and Zeithmal.V.L, (1985), A conceptual model of service quality and its implications for future research, journal of marketing, fall 1985, pp41-50. Parasuraman.A, Berry.L and Zeithmal.V.L, (1991), Refinement and reassessment of the SERVQUAL scale, Journal of retailing, vol-67, No.4, pp420450. Usha arora and Bhavana Vashishat (2011), Service quality in retail banking: An Indian perspective, The IUP journal of marketing management, Vol-X, No.3, pp56-61. Vikas gautam (2011), Service quality perceptions of consumers about insurance companies: An empirical study, Indian journal of marketing, march 2011, pp8-20.

A STUDY ON PROBLEMS IN PRODUCTION AND MARKETING THE RURAL AGRICULTURAL PRODUCTS IN TIRUNELVELI DISTRICT. C.Subash Chandar, & V. Betsy Hannah,Research Scholars, Manonmaniam Sundaranar University, Tirunelveli ABSTRACT: Agriculture is a very important activity in the world. It is more than just a job and is very much essential for the survival of living beings especial for human beings. Without human beings trees, food and cash crops, medicinal herbs, shrubs and all other green plants can survive in this world but without agriculture man cannot survive. This is because food is one of the most essential needs of human beings. Especially in India agriculture is given more importance since about 70% of the Indian population lives in rural India and their major occupation and source of Income comes from agriculture and allied activities. Nowadays in India and especially in Tamilnadu agriculture is given very less importance due to various problems in production and marketing of the agricultural products. This paper discuss about some of the problems faced by the farmers in rural areas of Tirunelveli district with respect to production and marketing of agricultural products. Key words: Indian agriculture; agricultural production; rural marketing; marketing barriers;

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Agriculture: Agriculture is a very important activity in the world. It is more than just a job and is very much essential for the survival of living beings especial for human beings. Agriculture is the science, art, or practice of cultivating the soil, producing crops, and raising livestock and in varying degrees the preparation and marketing of the resulting products (Definition of, n.d). Before some 10 to 12 thousand years ago human beings started to do agriculture and this was the first agricultural revolution before which the human beings were involved in hunting for their living (Rosenberg, n.d). In this way agriculture got developed not only in a single place but all over the world. Before 17th century there was no much difference in methods of agriculture. In the 17th century there was much improvement in agriculture and it can be rightly called the second agricultural revolution. The agriculture in 20th century is well improved and usage of modern technology has taken agriculture to a new path. The developed countries use GIS, GPS, remote sensing etc and less developed countries still follow the same methods used before 17th century. Agriculture is being the major source of income for about 45% of the worlds population. Indian Agriculture: According to a statistics of 2011 India has a large area of cultivable land that is the land which is suitable for growing crops (Agriculture in, n.d). India has 159.7 Million hectares of land which is about 394.6 Million acres of land and is suitable for cultivation. The statistics says that India has second largest area after USA which is suitable for growing crops. It also says that India is the largest country in the world with respect to gross irrigated crop which accounts to 82.6 Million hectares. India is famous for its production of crops like wheat, rice, pulses, cotton, peanuts, fruits, and vegetables and is one among the top three producers in the world. For about 58.4% of the Indian population the major source of income is from agriculture (Agriculture, n.d). Agriculture contributes to about one fifth of Indias GDP which is about 16% and it contributes to about 10% of total export earnings. The product produced in agriculture becomes a raw material for various industries. Marketing is the performance of business activities involved in the flow of goods and services from the point of initial agricultural production until they are in the hands of the ultimate consumer (Kohis R.L, 1985). Today agriculture is declining when compared to olden days mainly because of lack of interest from the side of agriculturists. The lack of interest is due to various problems they face in production and marketing their products mainly due to seasonal variation, lack of rainfall, not getting expected profit etc. This paper discuss about some of the problems faced by the farmers in rural areas of Tirunelveli district with respect to production and marketing of agricultural products. Area profile The study was done in rural agricultural areas of Tirunelveli district. The name Tirunelveli is the combination of three words namely Thiru, Nel, Veli which means Sacred Paddy Hedge (Salient features, n.d). The Tirunelveli district was formed a very long ago in the British period. East India Company formed it in the year 1790 and it was brought under the Queen Victoria. According to the 2011 statistics the population of the district is 30,72,880. The major occupation of the study area is agriculture. The total area of Tirunelveli district is 6,75,850 and in that the area in which agriculture is done is 1,71,155. The major crops grown in this area are Paddy, Ragi, Cumbu maize, cotton, Banana, Sugarcane and groundnut. An area of 26108 hectares is used for cultivation for more than once. The major source of irrigation is river irrigation, canal irrigation and well irrigation. Out of the total

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133106 acres irrigated through the three source of irrigation, 50096 acres was irrigated through well, 55382 acres was irrigated through tanks and the rest of the area that is 27128 acres was irrigated through canal. The major river flowing through Tirunelveli district is Thamirabarani. The other rivers flowing are Servallar, Manimuthar, Ramanathi, Pachayar, Chittar and Uppodai rivers. Methodology: A descriptive research is done in this study to identify the problems faced by the farmers in production and marketing. Non probability sampling technique that is purposive sampling technique was used to select the respondents. A total of 260 respondents from various rural areas in and around Tirunelveli district like Vikramasingapuram near Pabanasam, Nainar colony near Ambasamudhiram, Ramaiyanpatti near Town , Sundarapandiyapuram near Surandai, Balamarthandapuram near Kadayanallur, Konganthaanpaarai, Cheranmahadevi and some areas near Thenkasi were taken as sample for the study. Primary data was collected through direct interview method. Farmers from the above mentioned rural areas of Tirunelveli district were individually met and data was collected through Interview schedule. Results and Discussion: The major source of irrigation is from canal water, river water and mainly through water from wells. Most of the farmers have reduced their agricultural activities due to some problems and started searching for other jobs besides agriculture which may give them a fixed income. From the data collected the following results can be obtained. The major source of income for 88.8% of the respondents comes from agriculture followed by business which is a major source of income for 4.2% of the respondents followed by government salary which is a major source for 3.5% and private employment for 3.1% of the respondents. Regarding the education of the respondents 26% of the respondents have completed middle school followed by 18% of the respondents who have completed their primary schooling which is followed by 17% of them who have completed high school level. There were 16% of respondents who have no education at all and 15% of the respondents have completed degree or diploma. There were 8% of the respondents who have completed their higher secondary. Among the respondents 53.5% of them were doing agriculture since it is their hereditary job, followed by 26.2% of them doing agriculture as they dont want to leave their land uncultivated, followed by 11.5% of them doing because they can get expected profit, followed by 5% of the respondents doing in an idea of doing something new and different in agriculture and 3.8% of them are doing agriculture because they dont know any other job or they are not interested to go to any other job. Among the various crops cultivated by the respondents, the crop cultivated by majority of the respondents (57.7%) is Paddy which is followed by Banana (28.1%), Sugarcane, chilly and other crops (8.8%) and Sollam (5.4%). The reason said for cultivating the specific crop by more respondents is previous experience in growing that crop (40.8%) followed by less or easy work for cultivation and readily available seeds or siblings (20.8%), reliability of market for the product (16.9%), affordable cost of cultivation (12.3%) and scope for obtaining expected profit (9.2%). Among the various cost of cultivation 69.2% of the respondents say that they feel labour cost is more. Among the total respondents 25% of them said fertilizer, pesticides etc contributes more in cost of cultivation. Among the total respondents 21.5% said that they spend more for maintenance of land. Among the total respondents 11.5% of them said that

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seed cost contributes major portion in their cost of cultivation incurred. 4.2 % of the total respondents said that irrigation and other crop maintenance techniques cost them more. Storage, packing and handling cost is major part of cost of cultivation for 1.9% and sales or stall fees is major portion of cost of cultivation for 1.5% respondents. Among the total respondents majority (63%) of the respondents have income below 20000, followed by 25% of them falling in income level of 20000 to 40000 followed by 7% of them having income between 40000 and 60000 and 5% of them having income above 60000. Among the respondents 47.3% of them loose 20 30% of the produced crop due to spoilage followed by 35% of them losing below 20% followed by 13.1% of the respondents losing 31- 40% followed by 2.7% of them losing 41 50% and 1.9% of the respondents loose above 50% of the total product cultivated. When the respondents enter the market or try to market their product, for 25% of the respondents, long distance of the market and availability of transportation facilities is the major barrier. For 24.2% not getting the expected profit is the major barrier. For 22.7% of the respondents, limited or low demand for the product is a major barrier. For 16.2% of them competitors and black-market is a major barrier. For the remaining 11.9% of the respondents fluctuation of the price for their product in the market is a major barrier. 98.8% of the respondents dont sell their products to direct marketing channel. Some problems faced by the farmers: Table 1: Intermediaries are the one who take away the major portion of customers rupee and it is a major problem faced by the respondent. S. No Condition No. of respondents (x) Value(n) (x)(n) 1. Strongly Agree 80 5 400 2. Agree 119 4 476 3. Neutral 50 3 150 4. Disagree 5 2 10 5. Strongly Disagree 6 1 6

Weighted average = (x)(n)/ (x)

= 4.01

From the above weighted average table it is found that the respondents agree to the statement intermediaries are those who take away more portion of the profit. Table 2: Intermediaries are essential and cant market my products without them. S. No 1. 2. 3. 4. 5. Condition Strongly Agree Agree Neutral Disagree Strongly Disagree No. of respondents (x) 100 102 46 7 5 Value(n) 5 4 3 2 1 (x)(n) 500 408 138 14 5

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Weighted average = (x)(n)/ (x) = 4.1

The weighted average table shows that the respondents agree to the fact that intermediaries are essential for marketing the products of the farmers Table 3: Sufficient profit is obtained while selling agricultural product produced. S. No Condition No. of respondents (x) Value(n) (x)(n) 1. Strongly Agree 20 5 100 2. Agree 70 4 280 3. Neutral 87 3 261 4. Disagree 77 2 154 5. Strongly Disagree 94 1 94

Weighted average = (x)(n)/ (x) = 3.1

The weighted average table shows that the respondents have somewhat neutral opinion that they get sufficient profit while selling the products. Some get expected profit but some of them dont get back the profit and sometimes they even face loss. Table 4: Rejection of products is a major problem while marketing the product. S. No Condition No. of respondents (x) Value(n) (x)(n) 1. Strongly Agree 13 5 65 2. Agree 25 4 100 3. Neutral 53 3 159 4. Disagree 139 2 278 5. Strongly Disagree 30 1 30

Weighted average = (x)(n)/ (x) = 2.43

The above weighted average table shows that the respondents disagree to the fact that rejection of products in the market is a problem for them. Conclusion: Thus from the study some of the problems faced by the farmers in selected areas of Tirunelveli district has been analysed. The crop which is grown by majority of the respondents is Paddy, followed by Banana, Sugarcane, Chilli and other vegetables and Sollam. According to the respondents labour cost is high among the cost of cultivation, followed by fertilizer and pesticides, which is followed by maintenance and other costs. Non availability of adequate amount of fertilizers is also a problem as said by some farmers. Lack of rainfall is another problem in production as mentioned by most of the respondents during

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the direct interview. Some other problems are intermediaries taking away major share of their profit, distance of the market, not getting expected profit, loss due to spoilage, non availability of proper storage facilities, and non availability of suitable direct marketing channel which is more profitable. References 1) Agriculture in India (n.d), http://en.wikipedia.org/wiki/Agriculture_in_India, viewed on 27th August, 2012. 2) Agriculture (n.d), http://www.india.gov.in/sectors/agriculture/index.php, viewed on 27th August, 2012 3) Definition of AGRICULTURE (n.d), http://www.merriamwebster.com/dictionary/agriculture, viewed on 21st August, 2012. 4) Rosenberg (n.d), http://geography.about.com/od/urbaneconomicgeography/a/aggeography.htm viewed on 21th August, 2012. 5. Salient features of the district, http://ebookbrowse.com/tirunelveli-profile-pdfd313249292, viewed on 25th August, 2012. A STUDY ON IMPACT OF WRAP ADVERTISING ON VEHICLES SPECIAL REFERENCE WITH COIMBATORE CITY K. Yuvaraj, PhD Scholar, Department Of Commerce, P.Govindaraj, PhD Scholar, Department Of Commerce, P.S.G College of Arts and Science, Coimbatore- 641 014 Abstract This Paper contains a study regarding the Wrap advertising on the vehicles in Coimbatore city. For the purpose of study a detailed questionnaire was prepared and a pilot study was made. The data collected from the respondents from various part of the city. This study includes the awareness of the wrap advertising among the respondents, attraction of wrap Advertisement, opinion of the advertisement, the influence level of advertisement among the customers who make purchase through the advertisement. Introduction Vehicle Wrap (also known as Vehicle Advertising or Wrap Advertising) is an advertisement printed on large sheets of adhesive vinyl to fully cover or partially cover a service, parts or sales vehicle. Wraps provide a platform for higher impact graphics than traditional cut letter vinyl decals, and this can increase brand and corporate awareness and the opportunity for a higher return on advertising investment. Wraps also protect original paint finishes, which can increase the resale value of the vehicle after the wrap material is removed. Statement of the problem The advertisements are a big tool to attract the various customers for a business. Size of the business takes major role for placing the advertisements. Most of the small and medium business operators target the customers from local area only. They are not able to spend much more amount for the advertisements. So most of the advertisers choose the wrap advertisements to advertise their products in the local market. So the researchers take an effort to study the impact among the customers with the wrap advertising Objective of the Study 1. To study the awareness of the wrap advertising among the respondents.

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2. To study the opinion of the wrap advertising among the respondents 3. To study the influence of wrap advertising of respondents purchases 4. To give the valuable suggestion. Research Methodology Area of the study The area of the study is Coimbatore City. Sampling Design Convenient Sampling method has been adopted to select the sample for this study. Method and Sample Size of the study A pilot study was made and 30 respondents were taken to the study to collect the data. Source of data Both primary and secondary data are collected as to fulfill the various objectives of the study. For the purpose of collection of data, a questionnaire has been prepared and collected from the respondents. Tool used for analysis *Descriptive analysis *Chi square Test Limitations of the Study 1. Only 30 respondents are in the part of the study. 2. This study was limited in Coimbatore city only. 3. The time duration of the study is another limitation 4. The limitation of questionnaire method is applicable. Because the data collected through questionnaire. Descriptive analysis Table 1- Table showing gender of the respondents Gender No of Respondents Percentage Male 22 73.3 Female 08 26.7 Total 30 100 The table indicates majority (73.3%) of the Respondents is male and 26.7% of the respondents are female. Table 2 - Table showing occupation of the respondents Occupation No of Respondents Percentage Employee 16 53.3 Professional 03 10 Business 06 20 Student 02 6.7 Others 03 10 Total 30 100 The above table shows that the majority (53.3%) of the respondents are employees. 10% of the respondents are professionals. 20% of the respondents are business people. 6.7% of the respondents are students and 10% of the respondents come under other category like house wife etc.

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Table 3 Table showing educational qualification of the respondents Educational Qualification No of Respondents Percentage School level 06 20 College level 22 73.3 Professional 02 6.6 Total 30 100 The above table shows that the majority (73.3%) of the respondents education is college level. 20% of the respondents have school level education and 6.6% of the respondents have professional education. Table 4 - Table showing monthly income of the respondents Monthly Income No of Respondents Percentage Below 10,000 13 43.3 10,000-20,000 10 33.3 above 20,000 07 23.3 Total 30 100 The table indicates most of the respondents (43.3%) are comes under the income level below 10,000. 33.3% of the respondents are comes under the income level 10,00020,000 and 23.3% of the respondents comes under the income level of above 20,000. Table 5 - Table showing the respondents awareness level of the wrap advertising Awareness No of Respondents Percentage Yes 30 100 Total 30 100 The above table shows all the respondents (100%) aware of the wrap advertisements. Table 6 - Table showing better vehicle for the wrap advertisement Vehicle No of Respondents Percentage Car 01 3.3 Bus 22 73.3 Goods carriage 03 10 Auto rickshaw 04 13.3 Total 30 100 The table showing the majority (73.3%) of the respondents opinion regarding the better vehicle for wrap advertising is bus. 3.3% of the respondents opinion regarding the better vehicle for wrap advertising is car. 10% of the respondents opinion regarding the better vehicle for wrap advertising is goods carriage and 13.3% of the respondents opinion regarding the better vehicle for wrap advertising is auto rickshaw. Table 7 - Table showing respondents opinion regarding the attractive area on the vehicle Advt on Vehicle No of Respondents Percentage Glass of the vehicle 06 20 Back side of the vehicle 23 76.6 Inside of the vehicle 01 3.3 Total 30 100 The above table indicates the majority (76.6%) of the respondents opinion regarding the advertisements better to be placed in the backside of the vehicle. 20% of the respondents opinion regarding the advertisements better to be placed in the glasses of the vehicle and 3.3% of the respondents opinion regarding the advertisements better to be placed in the inside of the vehicle.

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Table 8 - Table showing type of advertisement Type of advertisement No of Respondents Percentage Educational institution 13 43.3 Hospitals 04 13.3 Mobile phones 08 26.6 Textiles 05 16.6 Total 30 100 The table showing the most of the respondents (43.3%) are come to know the information about the educational institutions through the advertisements. 13.3% of the respondents are come to know the information about the Hospitals through the advertisement. 26.6% of the respondents are come to know the information about the mobile phones through the advertisements and 16.6% of the respondents are come to know the information about the textiles products through the advertisements. Table 9 - Table showing opinion regarding the information of the advertisement Opinion No of Respondents Percentage Highly informative 26 86.6 Informative 04 13.4 Total 30 100 The above table indicates majority of the respondents (86.6%) opinion regarding the information is high and 13.4% of the respondents opinion regarding the information is informative. Table 10 - Table showing opinion regarding the visibility of the advertisement Opinion No of Respondents Percentage Good 25 83.3 Neutral 04 13.3 Bad 01 3.3 Total 30 100 The above table shows that the majority of the respondents (83.3%) opinion regarding the visibility is good. 13.3% of the respondents opinion regarding the visibility is neutral and 3.3% of the respondents opinion regarding the visibility is bad. Table 11 - Table showing the opinion regarding the design of the advertisement Opinion No of Respondents Percentage Good 20 66.6 Neutral 07 23.3 Bad 03 10 Total 30 100 The above table showing the majority (66.6) of the respondents opinion regarding the design of the advertisement is good. 23.3% of the respondents opinion regarding the design of the advertisements is neutral and 10% of the respondents opinion regarding the design of the advertisement is bad. Table 12 - Table showing opinion regarding the font and caption of the advertisement Opinion No of Respondents Percentage Good 04 13.3 Neutral 23 76.6 Bad 03 10 Total 30 100 The above table indicates that the majority of the respondents (76.6%) opinion regarding the font and captions of the advertisements is neutral. 13.3% of the respondents opinion regarding the font and captions of the advertisement is good and

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10% of the respondents opinion regarding the font and caption of the advertisement is bad. Table 13 - Table showing influence of the advertisement among the respondents Influence on purchases No of Respondents Percentage Yes 18 60 No 12 40 Total 30 100 The above table shows that the majority of the respondents (60%) got influence to make purchases through the wrap advertising and 40% of the respondents doesnt got the influence to make purchases through the wrap[ advertising. Table 14 - Table showing reality of the advertisement Truth of the advertisement No of Respondents Percentage Accepted 13 72.2 Partly accepted 03 16.6 Not accepted 02 11.2 Total 18 100 The above table shows the majority (72.2%) respondents opinion among who bought the goods with influence of the advertisements, the information of the advertisement is accepted. 16.6% of the respondents opinion among who consumed the goods with influence of the advertisements, the information of the advertisement is partly accepted and 11.2% of the respondents opinion among who consumed the goods with influence of the advertisements, the information of the advertisement is not accepted. Table 15 - Table showing respondents observed information only through wrap advertising Factor Yes Percentage No Percentage Overall Educational 26 86.6 04 13.3 100% Institutions 13 43.3 17 56.6 100% Hospitals 23 76.6 07 23.3 100% Mobile Phones 9 30 21 70 100% Textiles The above table shows that the 86.6% of respondents came to know the informations of educational institutions only through wrap advertising. 43.3% of the respondents came to know the information of hospitals only through wrap advertising. 76.6% of the respondents came to know the information of mobile phones only through wrap advertising and 30% of the respondents came to know the information of textile products only through wrap advertising. Table 16 - Table showing opinion regarding the comfortable of the advertisement Opinion No of Respondents Percentage Yes 05 16.6 No 25 83.4 Total 30 100 The above table indicates the majority (83.4%) or the respondents are not getting uncomfortable with the wrap advertising and 16.6% of the respondents are getting uncomfortable with wrap advertising. Chi Square Test Table 1 Respondents have seen wrap advertising and type of advertisement have seen by the respondents. Hypothesis:

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There is no significant difference between respondents have seen wrap advertising and type of advertisement have seen by them. Edu.Inst hospitals Mob. Textiles Total Phones Car 0 0 0 1 1 Bus 9 3 6 4 22 Goods 1 1 1 0 3 carriage Auto 3 0 1 0 4 rickshaw Total 13 4 8 5 30 Hence there is a significant association with respondents have seen wrap advertising and type of advertisement have seen by them. Table 2 Respondents monthly income and the advertisement influenced to purchase. Hypothesis: There is no significant difference between respondents monthly income and the advertisement influenced to purchase. Yes No Total Below 10,000 7 6 13 10,000-20,000 5 5 10 20,000 above 6 1 7 Total 18 12 30 O 7 6 5 5 6 1 E 7.8 5.2 6 4 4.2 2.8 30 Degree of freedom 6 Chi-square value 2.55 (O-E)2 0.64 0.64 1 1 3.24 3.24 9.76 (O-E)2/E 0.08 0.12 0.17 0.25 0.77 1.16 2.55 Significant/not significant Significant

O-E -0.8 0.8 -1 1 1.8 -1.8

Table value 11.070

Accept/ Reject Reject

Hence there is significant association between respondents monthly income and the advertisement influenced to purchase. Table 3 Respondents educational qualification and respondents opinion regarding the visibility of the advertisement. Hypothesis

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There is no significant difference between the educational qualification of the respondents and respondents opinion regarding the visibility of the advertisement. good neutral bad total School level 6 0 0 6 College level 18 3 1 22 Professional 1 1 0 2 Total 25 4 1 30

Degree of freedom 9

Chi-square value 15.507

Table value 3.739

Accept/ Reject reject

Significant/not significant significant

Hence there is a significant association between the educational qualification of the respondents and respondents opinion regarding the visibility of the advertisement. Findings Descriptive analysis 1. The table indicates majority (73.3%) of the Respondents is male 2. The majority (53.3%) of the respondents are employees. 3. The majority (73.3%) of the respondents education is college level 4. Most of the respondents (43.3%) are comes under the income level below 10,000. 5. All the respondents (100%) aware of the wrap advertisements. 6. Majority (73.3%) of the respondents opinion regarding the better vehicle for wrap advertising is bus. 7. The majority (76.6%) of the respondents opinion regarding the advertisements better to be placed in the backside of the vehicle. 8. Most of the respondents (43.3%) are come to know the information about the educational institutions through the advertisements 9. Majority of the respondents (86.6%) opinion regarding the information is high 10. Majority of the respondents (83.3%) opinion regarding the visibility is good 11. Majority (66.6) of the respondents opinion regarding the design of the advertisement is good. 12. Majority of the respondents (76.6%) opinion regarding the font and captions of the advertisements is neutral. 13. Majority of the respondents (60%) got influence to make purchases through the wrap advertising 14. Majority (72.2%) respondents opinion among who bought the goods with influence of the advertisements, the information of the advertisement is accepted. 15. The 86.6% of respondents came to know the informations of educational institutions only through wrap advertising. 16. Majority (83.4%) or the respondents are not getting uncomfortable with the wrap advertising. Chi Square Test 1. There is a significant association with respondents have seen wrap advertising and type of advertisement have seen by them. 2. There is significant association between respondents monthly income and the advertisement influenced to purchase.

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There is a significant association between the educational qualification of the respondents and respondents opinion regarding the visibility of the advertisements. Suggestions 1. Some advertisement not narrates the informations clearly. They want to give the advertisement with all information 2. The designs and colours of some advertisements are irritating to the public while seeing the advertisement. Advertisers want to place their advertisements neatly and effectively 3. The advertisement wants to be eye catching and attracting. If the advertisers places the advertisements attractively it may give more customers. 4. The informations in the wrap doesnt updated frequently by the advertisers. They want to take steps to update the advertisements. Conclusion Most of the customers to know a particular product or a service only through the advertisements. In the various types of advertisements wrap advertising is a finest way to approach the local customers. But some times the advertisements are not properly supervised by the advertiser. So the customers get irritations with expired details of the advertisements. The advertisers also give such importance to this type of advertisements it will be increased their percentage of market share. Bibliography 1. http://utterlyorange.com 2. http://sunrisesigns.com 3. http://advertising.about.com A STUDY ON THE FACTORS INFLUENCING THE ADOPTION OF INTERNET BANKING USING THE EXTENDED TECHNOLOGY ACCEPTANCE MODEL WITH SPECIAL REFERENCE TO SELECTED BANKS IN COIMBATORE CITY. Ms. Thamarai Selvi P, Assistant Professor, Mr. N.Ramu, Assistant Professor, Ms. Divyadarshini and Ms. Dinahari, II MBA , School of Management, Sri Krishna College of Engineering and Technology, Coimbatore. Introduction: Advances in electronic banking technology have created new ways of handling banking transactions, especially via the online banking channel. In India internet banking is still in its early stages and it is not utilised as a considerable savings tool in operating costs for banks and in improving customer relationships. The intent of this research is to identify the factors affecting the adoption of Internet banking by the private banks customers in the light of the Technology Acceptance Model (TAM). The model was tested with a survey sample (n = 247). The findings of the study indicate that the security, quality of the Internet connection and awareness about Internet banking and its benefits have significant effects on the perceived usefulness (PU) and perceived ease of use (PEOU) of Internet banking acceptance. It was revealed that the effects of education and trust also have significant impact on the attitude towards the acceptance of Internet banking. Overall, the results of this study are vital in understanding TAMs validity in technology acceptance research. Background to the study: The rapid growth and popularity of the internet has created great opportunities as well as threats to companies in various business sectors, to endorse and deliver their products and services using internet as a distribution channel. Besides opportunities of this channel, banks and financial institutions across the world face new challenges to the ways they operate,

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deliver services and compete with each other in the financial sector. Driven by these challenges banks and financial institutions have implemented delivering their services using this channel. Internet banking refers to the use of the internet as a delivery channel for banking services, which includes all traditional services such as balance enquiry, printing statement, fund transfer to other accounts bill payment and so on, and new banking services such as electronic bill presentment and payment without visiting to bank branch. The objectives of internet banking include cost containment through reduction in operating cost, performance improvement by making the service available at all times of the day, wider coverage by enabling the access to service from any location, revenue growth through better quality and additional non-financial services, and customer convenience through personalised service. From the customers perspective, internet banking facilitates a convenient and effective approach to manage personal finances, as it is accessible 24 hours a day and 365 days in a year without visiting the bank and from any location. Although there is a significant growth of internet users in almost every country, the number of financial transactions carried out over internet remains to be low. It is observed that potential users either do not adopt internet banking or do not use it continually after adoption. In order to be successful, banks and financial organisations are keen to understand to what extent customers are adopting or using internet banking services. As mentioned earlier, due to limited research on internet banking, information on factors that have influenced users behaviour to adopt or use internet banking is limited. The current study will address this shortcoming. The findings of this study will help the banking industry in developing strategic plans to promote products and services over the internet in future. The IT revolution had a great impact in the Indian banking system. The use of computers had led to introduction of online banking in India. The use of the modern innovation and computerisation of the banking sector of India has increased many folds after the economic liberalisation of 1991 as the country's banking sector has been exposed to the world's market. The Indian banks were finding it difficult to compete with the international banks in terms of the customer service without the use of the information technology and computers. The evolution of Internet banking from e-commerce has altered the nature of personalcustomer relationships and the offering of products and services in the banking industry. The financial service industry, especially banks, has responded to constant market changes by adopting different types of delivery channel strategies. These market changes include: customer banking tastes and preferences, increasing competition from non-bank financial institutions, shifting demographic and social trends, government deregulation of the financial service industry, and technological innovation and development. The Automatic Teller Machine, telephone banking, Personal Computer banking, and Internet banking are examples of how the banking service industry has revolutionized since the 1970s Studying internet banking adoption: There is a growing body of academic research that has focused on examining the factors that have influenced user behavioural intention to adopt or use innovations in information technology. Among the different models that have been proposed, the technology acceptance mode (TAM) is the most widely accepted model because of its specific focus on information system use, and the same is used in the present study. According to TAM adoption behaviour is determined by the intention to use which in turn is determined by the perceived usefulness and perceived ease of use traits of the system.

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The Internet provides a secure medium for transferring funds electronically between bank accounts, and also for making banking transaction over the Internet. All banking activities that were conventionally carried by visiting a bank can now be done through a computer with Internet access. In studying the adoption or usage of internet banking, we argue that the original TAMs constructs are not sufficient because technology settings and transaction environment are different from conventional information system studies such as adopting software packages or tools, thus necessitating a search for additional variables that better explain adoption or use of internet banking. Thereby adding richer set of constructs that enhances the prediction ability of the model, this research proposes to extend TAM in the context of internet banking with a view to provide a more in-depth analysis of intention to adopt or use of services. Literature review Organisations continue to substantially invest in IT hoping that it will improve their business process and increase their productivity. However, for technologies to improve productivity, they must be accepted by intended users (Venkatesh et al.,2003) note that research in understanding user acceptance of new technology has resulted in several theoretical models with roots in information systems, psychology and sociology. The current study proposes the application of the technology acceptance model (TAM) to capture factors which have significant impact on the acceptance of Internet banking. TAM is one of the most utilised models for studying IS acceptance (Al-Gahtani, 2001; Venkatesh and Davis,1996; Davis et al., 1989). TAM involves two primary predictors for the potential adopter perceived usefulness (PU) and perceived ease of use (PEOU) of technology as the main determinants of the attitudes toward a new technology. PU is the degree to which a person believes that using a particular system would enhance his or her job performance; while PEOU is the degree to which a person believes that using a particular system would be free of effort (Davis, 1989). These two beliefs create a favourable behavioural intention toward using the IT that consequently affects its self-reported use (Davis et al,. 1989). TAMs theoretical background is based on TRA and it was specially tailored for understanding user acceptance of information system model. TRA seeks to explain an individuals action which is determined by his/her Behavioural Intention to perform it (Fishbein and Ajzen, 1975). Intention is considered a direct determinant of behaviour in the TRA that is influenced by the attitude (attitude toward performing behaviour), and subjective norms (social pressures to perform behaviour). TRA has been tested and used extensively as well as its extension, the theory of planned behaviour (TPB) (Ajzen, 1991). TAM has been the instrument in many empirical studies and it has been found that its ability to explain attitude towards using an information system is better than TRA and TPB (Mathieson, 1991). King and He (2006) conducted a statistical meta-analysis of TAM as applied in various fields using 88 published studies and the results showed TAM to be a powerful, highly reliable, valid and robust predictive model that may be used in a variety of contexts. Wang, et. al, (2003) confirm the validity of TAM and support its use with different populations of users and different software choices. Many researchers have suggested that external variables may be added to TAM as a way of improving the models predictive power (AlSukkar, 2005; Davis et al., 1989; Davis, 1993). In particular, AlSukkar (2005) proposed an extended TAM framework to model behavioural intentions in developing countries so that it may have greater applicability.

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Objective Primary objective 1. To explore the relationship of the factors in the extended technology adoption model for net banking customers Secondary objectives 1. To find the impact of TAM constructs on attitude towards usage of net banking 2. To measure the impact of extended TAM constructs on attitude towards usage of net banking. 3. To identify the impact of extended TAM constructs on adoption intention towards net banking. Research Methodology: The current study is a descriptive study carried out with primary data which involved the customers of private banks as the sample and a structured questionnaire as the tool for data collection. The sample size of the study counts to 247 respondents. The type of sampling used is convenient sampling that was conducted based on non probability samples. The measurement of instrument was assessed based on 5 point Likerts interval scale and the data was computed using SPSS 16. Statistical tools used The tools used to analyse the data were Reliability test T-test Analysis of variance Chi square Correlation Regression Rank analysis Result and Conclusion: The first objective of the study that explores the relation among the constructs of the extended technology acceptance model is substantiated with the mirror image of the inter correlation existing between the factors that is presented in the outline of a right angled triangle. The second objective of finding the impact of basic technology acceptance model variables on attitude towards usage of internet banking is validated with the results explicating the influence of dimensions perceived usefulness and perceived ease of use. This indicates that it is very essential and indispensable to take care of the component, ease of usage in the technology as fundamental criterion to exert the pull of the customers towards adoption of the technology. The third objective of measuring the impact of the extended technology acceptance model variables is demonstrated with elucidation that substantiates the power of the constructs security and ease of use. By this it can be concluded that for a bank to make its customer adopt the net banking technology the element of security should be assured and the ingredient of user friendliness should be made available. The fourth objective that intends to identify the impact of the extended technology acceptance model variables on adoption intention of the customers towards net banking is expounded with the fact that states awareness of services and its benefits, security and

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perceived ease of use are the constituents that have a major impact on the customers that intend them to adopt the internet banking technology. As more and more banking and financial institutions implement Internet banking services, it is of paramount important for these institutions to identify factors that influence customer attitudes to adoption and use these services. The model used in this study proposed that Internet banking acceptance can be modelled in light of TAM variables (Perceived usefulness, perceived ease of use, and attitude towards Usage of internet banking) and other controlling variables namely; the quality of Internet connection, awareness of Internet banking and its benefits, Security, trust and demographic characteristic. This study represents a contribution to the existing literature in which it makes a contribution to Internet banking literature towards highlighting on the factors that seem to affect Internet banking acceptance. Moreover, the study contributed in validating previous TAM results from different contexts and shows the applicability of a uniquely extended TAM in predicting the factors that influence the customers to accept Internet banking. This is consistent with many banking studies conducted during the past years which find that TAM is a powerful, highly reliable, valid and robust predictive model that may be used in a variety of contexts. From all of this, we have learnt that information technology has empowered customers and businesses with information needed to make better investment decisions. At the same time, technology is allowing banks to offer new products, operate more efficiently, raise productivity, expand geographically and compete globally. A more efficient, productive banking industry is providing services of greater quality and value. E-banking has become a necessary survival weapon and is fundamentally changing the banking industry worldwide. Today, the click of the mouse offers customers banking services at a much lower cost and also empowers them with unprecedented freedom in choosing vendors for their financial service needs. No country today has a choice whether to implement E-banking or not given the global and competitive nature of the economy. The invasion of banking by technology has created an information age and commoditization of banking services. Banks have come to realize that survival in the new e-economy depends on delivering some or all of their banking services on the Internet while continuing to support their traditional infrastructure. The rise of E-banking is redefining business relationships and the most successful banks will be those that can truly strengthen their relationship with their customers. Technology innovation and fierce competition among existing banks have enable a wide array of banking products and services, being made available to retail and wholesale customer through an electronic distribution channel, collectively referred to as e-banking. Banks have traditionally been in the forefront of harnessing technology to improve product and efficiency. Technology is altering the relationships between banks and its internal and external customers. Technology has also eroded the entry barriers faced by many industries. With one time investment, technology has brought about superior products and channel management with a special focus on customer relationship. The incremental costs incurred for expansion and diversification are also more beneficial. The major driving force behind the rapid spread of e-banking is its acceptance as an extremely cost effective delivery channel. But on the flipside, it is associated with risks such as reputation risk, security risk, cross-border risk and strategic risk, which are unique to ebanking. Banks need to have an effective disaster recovery plan along with comprehensive

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risk management tool is significant not only to the bank but also to the banking system as a whole. Internet has created plenty of opportunities for players in the banking sector. While the new entrants have the advantage of latest technology, the good-will of the established banks gives them a special opportunity to lead the online world. By merely putting existing service online wont help the banks in holding their customer close. Instead, banks must learn to capitalize their customers different online financial services relationships. APPENDIX II References 1. Sabah Abdullah Al-Somali, Roya Gholami, Ben Clegg , Internet Banking Acceptance in the Context of Developing Countries: An Extension of the Technology Acceptance Model (2008) 2. Su-Wen Chen, A study of customers intention to use internet banking: an integrated model 3. Zhengzhou Lu (Nancy) Zheng (2010), An Empirical Analysis of Factors that Influence the Adoption of Internet Banking in China: 4. Razli che razak, Asian academy of management journal, Vol 8,no 2, July 2003, Receptiveness of internet banking by malaysian consumers: the case of penang t. ramayah, Muhamad jantan, Mohd Nasser, Mohd noor, koay pei ling university sains Malaysia 5. Factors Affecting the Adoption of Online Banking An Integration of Technology Acceptance Model and Theory of Planned behaviour, International journal of business and management, Vol 5, No 9, September 2010. 6. Internet Banking in Jordan: An Arabic Instrument Validation Process, Emad AbuShanab1 and Michael Pearson, The International Arab journal of information technology, Vol 6,No 3, July 2009 7. Evaluating User Acceptance of Online Banking Information Systems: An Empirical Case of Pakistan, Fida Hussain Chandio. 8. Dr. Nasim Z. Hosein Shantou University, Shantou, China, Internet banking: Understanding consumer adoption rates among community banks 9. Su-Wen Chen, a study of customers intention to use internet banking: an integrated model 10. Braja podder, factors affecting the adoption and usage of internet banking 11. Emad Abu-Shanab and Michael Pearson, Internet Banking in Jordan: An Arabic Instrument Validation Process, The International Arab Journal of Information Technology, Vol. 6, No. 3, July 2009 12. Rajesh Kumar Srivastava, Customers perception on usage of internet banking, Innovative Marketing, Volume 3, Issue 4, 2007 13. Wang, Y., Wang, Y., Lin, H., Tang, T. (2003). Determinants of user acceptance of internet banking: an empirical study. International Journal of Bank Marketing, 14 (5), 501519. Retrieved July 24, 2007, from Emerald database. 14. Karjaluoto, H., Mattila, M., Pento, T. (2002). Factors underlying attitude formation towards online Banking in Finland. . International Journal of Bank Marketing, 20 (1), 261272. Retrieved July 24, 2007, from Emerald database. 15. Nauman Zahid, Asif Mujtaba, Adnan RiazConsumer Acceptance of Online Banking, European Journal of Economics, Finance and administrative Sciences ISSN 1450-2275 Issue 27(2010) 16. Braja Podder, Factors influencing the Adoption and usage of internet banking: A Newzealand perspective, June 2005 17. Andrew Musiime1 and Malinga Ramadhan, Internet banking, consumer adoption and customer satisfaction, Asian Journal of Marketing Management Vol 3(10), 261-269, October 2011.

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EMERGING TRENDS IN MODERN RETAILING IN INDIA R.SUDHA, PhD Scholar, Department of Commerce, M.NAGAJOTHI, PhD Scholar, Department of Commerce, PSG College of Arts&Science, Coimbatore ABSTRACT The Indian retail sector is going through a transformation and this emerging market is witnessing a significant change in its growth and investment pattern. Both existing and new players are experimenting with new retail formats. Currently two popular formats hypermarkets and supermarkets are growing at a rapid pace. Consumer dynamics in India is also changing and the retailers need to take note of this and formulate their strategies and tactics to deliver the exact expected value to the customer .Indian population is witnessing a significant change in its demographics. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key growth drivers of the organized retail sector in India. Liberalization of the economy, rise in per capita income, population has seen a significant increase in its disposable attributes and effective marketing strategies of the income organized retail in India. Percentage of organized retail in India is less, but the Reliance, ITC, etc., having greater enforcement of modern retail formats are showing very interesting trends. They have an efficient supply chain now prefers modern retail formats for shopping as it management, with superior vendor relationships, quality provides more value in form of improved quality, pleasant customer service, efficient merchandizing and timely shopping environment, entertainment facilities, trial rooms, promotional campaigns and exchange policies.There is opening up of stores in various modern formats in metros and a drastic change in the consumer spending patterns in important cities. The retail sector of India has come-forth as one of the most dynamic and second fastestgrowing industrial economy with several players entering the market. But all of them have not yet tasted success because of the heavy initial investment that are required to break even with other companies and compete with them. India is the country having the most unorganized retail market. Indias huge middle class base and its untapped retail industry are the key attraction for global retail giants planning to enter into newer markets. This paper includes growth of retail sector in India, strategies, strength and opportunities of retail stores, retail format in India, recent trends and opportunities and challenges. It examines consumers awareness and brand consciousness among people across different socioeconomic group in India and witnessing of significant growth in the urban and semi-urban retail markets. This article reviews the opportunities, emerging trends and potentialities about the booming Indian retail sector. Key Words: Indian Retail Sector, Growth, Challenges, Future INTRODUCTION Retailing includes all the activities involved in selling goods or services directly to final consumers for personal and non business use. A retailer or retail store is any business enterprise, whose sales volume comes primarily from retailing. Retail industry in India is at the crossroads it has emerged as one of the most dynamic and fast paced industries with several players entering the market. It is the latest bandwagon that has witnessed hordes of big players like TATA, Birla, Reliance, Pantaloon Group, etc., leaping into it. Liberalization of Indian Economy has brought opening for consumer goods this has helped many MNC, to

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serve with wide variety of choices to Indian consumers. Consumers have shifted their demands towards foreign brands like Pizza hut, Mc Donalds etc. Internet has also been a tool for this Revolution as Indian consumers are more accessible to the growing influences of domestic and foreign retail chains. Evolution of Indian Organized Retailing The development of organized retail started comparatively late in India. Single brand retail chains (such as those of Raymond's, Liberty footwear and such others) began to find a foothold in the major metros during the 1980s. Multi-brand retail chains came into the picture mainly during the1990s. Shopping centers began to come up around 1995. Shopping malls and hyper markets have begun to evolve primarily during the new millennium. Now, several large Indian business houses have made a foray into retailing, with multiple formats and in varied product categories. Multinational retailers are also trying to edge their way into the Indian market in whatsoever manner the present foreign investment norms permit. International retail chains, such as Wal-Mart, Tesco, etc., are waiting in the wings for Foreign Direct Investment (FDI) being allowed in multi-brand retailing. Exhibit 1 shows different phases in the growth of organized retailing in India during the new millennium. As shown in Exhibit 1, since the dawn of the new millennium, organized retail in India has shown three phases of development, while we are anticipating a fourth one:

1. First Phase: This was the starting point for the take-off of organized retailing, where the main focus areas were entry, growth and expansion strategies, with importance being accorded to top line revenue growth. 2. Second Phase: In this phase, the focus shifted to expanding the product range and geographic reach by building a wider network of outlets. 3. Third Phase: This is the current phase, projected to continue up to the year 2011. In this phase, the emphasis is on technological enhancements, supply chain management, backend operations, and technology and process improvement. This phase may be considered as the first stage of `Next-Generation Retailing.' 4. Fourth Phase: In the fourth phase, many decisive changes are anticipated. These include mergers and acquisitions, consolidations and shakeouts, involving huge investments. RECENT TREND IN RETAIL MARKET Malls The largest form of organized retailing today is located mainly in metro cities, in proximity to urban outskirts ranging from 60,000 to 700,000 sqft and above. They lend an ideal shopping experience with an amalgamation of product, service and

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entertainment, all under a common roof. Examples include Shoppers Stop, Pyramid, and Pantaloon. Discount Stores As the name suggests, discount stores or factory outlets, offer discounts on the MRP through selling in bulk reaching economies of scale or excess stock left over at the season. The product category can range from a variety of perishable/ non-perishable goods. Department Stores Large stores ranging from 20000-50000 sq. ft, catering to a variety of consumer needs. These are further classified into localized departments such as clothing, toys, home, groceries, etc. Departmental Stores are expected to take over the apparel business from exclusive brand showrooms. Hyper Marts/Supermarkets Large self-service outlets, catering to varied shopper needs are termed as Supermarkets. These are located in or near residential high streets. These stores today contribute to 30% of all food & grocery organized retail sales. Super Markets can further be classified in to mini supermarkets typically 1,000 sqft to 2,000 sqft and large supermarkets ranging from 500 sqft to 5,000 sq ft. having a strong focus on food & grocery and personal sales. E-tailing: Retailing on the net is known as E- tailing. Internet has changed the way we do shopping. It has brought the commerce to play a crucial role in shaping the future of Indian retailing. For shoppers and retailers it is increasingly a hybrid world. E-tailing is still a nascent business model all over the world and it is to be seen how it emerges in the future. E-tailing will also work best as an adjunct and supplement to brick and mortar set up. On the flip side, retail stores can make consumers more comfortable with internet shopping since most traditional merchants allows customers to return on-line purchase to their offline stores. Sector Profile The Indian retail industry has experienced high growth over the last decade with a noticeable shift towards organized retailing formats. India's retail market is expected to grow at 7% over the next 10 years, reaching a size of US$ 850 billion by 2020. Traditional retail is expected to grow at 5% and reach a size of US$ 650 billion (76%), while organized retail is expected to grow at 25% and reach a size of US$ 200 billion by 2020.The US-based global management consulting firm, A T Kearney, in its Global Retail Development Index (GRDI) 2011, has ranked India as the fourth most attractive nation for retail investment, among 30 emerging markets. The cumulative retail demand for real estate across India is expected to reach 43 million square feet by 2013.Around 46 per cent of the total estimated demand between 2009 and 2013 will be come from Tier-1 cities. Some of the key players in the Indian retail market, with a dominant share are: 1) Pantaloon Retail Ltd, a Future group venture: Over 12 million sq. ft. of retail space spread over 1,000stores, across 71 cities in India. 2) Shoppers Stop Ltd: Over 1.82 million sq. ft. of retail space spread over 35 stores, in 15 cities. 3) Spencers Retail, RPG Enterprises: Retail footage of over 1.1 million sq. ft. with approx 250 stores, across66 cities. 4) Lifestyle Retail, Landmark group venture: Has approximately 15 lifestyle stores and 8 Home centres.Other major domestic players in India are Bharti Retail, Tata Trent, Globus, Aditya Birla More, and Reliance retail. Some of the major foreign players who have

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entered the segment in India are- Carrefour which opened its first cash-and-carry store in India in Delhi. - Germany-based Metro Cash & Carry which opened six wholesale centers in the country. - Wal-Mart in a JV with Bharti Retail, owner of Easy Day storeplans to invest about US$ 2.5 billion over the next five years to add about 10 million sqft of retail space in the country. - British retailer Tesco Plc (TSCO) in 2008 signed an agreement with Trent Ltd. (TRENT), the retail arm of Indias Tata Group, to set up cash-and-carry stores. - Marks &Spencers save a JV with Reliance retail. EXIHIBIT -2 SIZE OF INDIAN RETAIL (IN US $ Billion)

Source: Technopak Analysis FINANCE AND ASSISTANCE The Indian retail sector accounts for 22 per cent of the country's gross domestic product (GDP) and contributes to 8 per cent of the total employment. India continues to be among the most attractive investment propositions for global retailers. Cumulative foreign direct investment (FDI) inflows in single-brand retail trading, during April 2000 to June 2011, stood at US$ 69.26 million. Till now FDI up to 100 per cent was allowed for cash and carry wholesale trading and export trading under the automatic route, and FDI up to 51 per cent was allowed in single-brand products, with prior government approvals. However, the Government recently passed a cabinet note and permitted FDI up to 51% in multi brand retailing with prior Government approval and 100% in single brand retailing thus further liberalizing the sector. This policy initiative is expected to provide further fillip to the growth of the sector. s Two-wheelers REGULATORY NORMS Multiple laws and regulations are in force at the central, state and local levels for governing the retail sector. Absence of specific legislations controlling distribution trade and the existence of a plethora of laws such as the Essential commodities Act, the Cold Storage Order, the Weights & Measures Act, labor laws, the Shops Establishments Act and so on, leads to market distortion.

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Timely and effective implementation of GST will help bring about market integration. Streamlining the barriers for interstate movements and removal of all octroi and sales tax check points is possible if the implementation of GST is done with a national, on-line tax payment system. There should be quick implementation of all the provisions of the APMC Act , in letter and spirit, namely the institutionalization of market intermediaries, contract farming and so on. CHALLENGES 1) Shortage of skilled manpower - Front-end retail assistant profiles in stores form a major proportion of the employment in the retail sector while store operations account for 75-80% of the total manpower employed in the organized retail sector. Unfortunately, there are very few courses specific to the retail sector and graduates/post graduates from other streams are recruited. Further, retail training opportunities such as niche courses for areas like merchandising, supply chain and so on are limited. A cohesive effort to develop skills within the sector can have a significant potential impact on productivity and competitiveness, both within the sector and on the wider economy. 2) Lack of industry status - Due to the absence of industry status, organized retail in India faces difficulties in procurement of organized financing and fiscal incentives. The Government should grant the much needed industry status to the sector so that the sops that come with it helps promote both big & small retailers. 3) Policy induced barriers Organized retail in India is managed by both the Ministries of Commerce &Consumer Affairs. While the Ministry of Commerce takes care of the retail policy, the Ministry of Consumer Affairs regulates retailing in terms of licenses and legislations. There is a need to govern retail operations through a single apex body. A single agency can take care of retail operations more effectively, especially with regard to addressing the grievances of retailers. 4) Real estate - Lack of sophisticated retail planning is another major challenge the sector faces. Available space is easily interchangeable between commercial and retail use. In most cities, it is difficult to find suitable properties in central locations for retail, primarily due to fragmented private holdings, infrequent auctioning of large government owned vacant lands and litigation disputes between owners. THE FUTURE Organized retail is a new phenomenon in India and despite the downturns, the market is growing exponentially, as economic growth brings more of Indias people into the consuming classes and organized retail lures more and more existing shoppers into its open doors. By 2015, more than 300 million shoppers are likely to patronize organized retail chains. The growing middle class is an important factor contributing to the growth of retail in India. By 2030, it is estimated that 91 million households will be middle class, up from 21 million today. Also by 2030, 570 million people are expected to live in cities, nearly twice the population of the United States today. Consumer markets in emerging market economies like India are growing rapidly owing to robust economic growth. India's modern consumption level is set to double within five years to US$ 1.5 trillion from the present level of US$ 750 billion .The online retail segment in India is growing at an annual rate of 35 per cent, which would take its value from Rs 2,000crore in 2011 to Rs 7,000 crore by 2015. For instance the Tata Group firm Infiniti Retail, that operates its consumer durables and electronics chain of stores under the 'Croma' brand, isin the process of tapping net savvy consumers.

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CONCLUSION The retail sector has played a phenomenal role throughout the world in increasing productivity of consumer goods and services. There is no denying the fact that most of the developed economies are very much relying on their retail sector as a locomotive of growth. The Retail Industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market. But all of them have not yet tasted success because of the heavy initial investments that are required to break even with other companies and competes with them. The Indian Retail Industry is gradually inchingits way towards becoming the next booming industry. REFERENCES Stanton W. 1.Etzel M. I., Walker B.1. (2005), "Fundamentals of Marketing", BoseB.S.(2003),"Handbook of Marketing Management",HimalayaPublishingHouse, Delhi Sontakki C. N. (2003), "Marketing Management", Kalyani Publishers, New Delhi Shivkumar, S(2009),Executive Director, Retail and Consumer Practices Price Warehouse Cooperative, India Retail Report, An Images F&R Research, pp.6. Available at: www.indiaretailing.com

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MERGERS AND ACQUISITIONS THE ORDER OF THE DAY

ASHWIN. J, Ph.D Research Scholar, University Of Madras Indian companies have significantly increased their M&A activity over recent years, particularly in terms of cross-border acquisitions. The value of deals conducted by Indian companies grew at a compounded annual growth rate of 28.3 percent over 2000-2007 to reach US$30.4 billion in 2007, of which US$22 .6 billion represented cross-border transactions. Indian M&A transactions are primarily driven by the desire for growth. Indian companies are leveraging their low-cost advantage to create efficient global business models; they are seeking entry into fast-growing emerging markets and market-share in profitable developed economies; they are looking to augment their knowledge, reach and capabilities through acquisitions of companies for their brands, technology, talent and product portfolios. Moreover, the competition to achieve these benefits is intense, heightening the need for speed. Companies from Latin America, Eastern Europe, Africa, the Middle East and across Asia are in a race to build their global businesses. A STRING-OF-PEARLS APPROACH TO GROWTH A key characteristic of the new wave of Indian M&A is the tendency to build a series of smaller stakes in different businesses and often industries; a string of- pearls approach that allows companies to rapidly expand their growth opportunities and extend their geographical footprint. In many cases, Indian companies have gained experience and confidence by venturing into similar markets in emerging economies before tackling more sophisticated mature markets. Bennett Coleman & Co 27 Acquisitions Timeline: 6 in 2005, 7 in 2006, 14 in 2007 Target Industries: Automotive, Consumer Goods & Services, Electronics & High Technology, Industrial Equipment, IT Services, Media & Entertainment, Outsourcing, Pharmaceuticals & Healthcare, Retail, Telecommunications Target Countries: India Average Size of Acquisitions: US$2.34 million HCL Technologies 14 Acquisitions Timeline: 1 in 1998, 4 in 2001, 2 in 2002, 2 in 2003, 2 in 2004, 1 in 2005, 1 in 2008 Target Industries: Capital Markets, Consumer Goods & Services, Insurance, IT Services, Telecommunications Target Countries: India, Thailand, UK, US Average Size of Acquisitions: US$43.73 million Hindalco Industries 11 Acquisitions Timeline: 3 in 2000, 3 in 2002, 2 in 2003, 1 in 2005, 1 in 2006, 1 in 2007 Target Industries: Chemicals, Metals & Mining Target Countries: Australia, India 154

Average Size of Acquisitions: US$117.41 million Source: Accenture analysis of Thomson Financial data CHALLENGES In an ideal merger, the newly created entity pools the best features of the two merging organizations. A well planned process built on the foundations of an open, honest and consistent communication strategy can pave the way. Mergers and acquisitions have become a common phenomenon in recent times. A merger of the size like HP-Compaq has implications for the workforce of these companies across the globe. Although the merging entities give a great deal of importance to financial matters and the outcomes, HR issues are the most neglected ones. Ironically studies show that most of the mergers fail to bring out the desired outcomes due to people related issues. The uncertainty brought out by poorly managed HR issues in mergers and acquisitions have been the major reason for these failures. THE HUMAN RESOURCE ISSUES DURING M&A The mergers often prove to be traumatic for the employees of acquired firms; the impact can range from anger to depression. The usual impact is high turnover, decrease in the morale, motivation, productivity leading to merger failure. The other issues in the M&A activity are the changes in the HR policies, downsizing, layoffs, survivor syndromes, stress on the workers, information system issues etc. The human resource system issues that become important in M&A activity are human resource planning, compensation selection and turnover, performance appraisal system, employee development and employee relations. THE CONCEPT OF CULTURE SHOCK M&A activity presents a different set of challenge for the human resource managers in both acquiring and acquired organizations. The M&A activity is found to have serious impact on the performance of the employees during the period of transition. The M&A leads to stress on the employee, which is caused by the differences in human resource practices, uncertainty in the environment, cultural differences, and differences in organizational structure and changes in the managerial styles. The organizational culture plays an important role during mergers and acquisitions as the organizational practices, managerial styles and structures to a large extent are determined by the organizational culture. Each organization has a different set of beliefs and value systems, which may clash owing to the M&A activity. The exposure to a new culture during the M&A leads to a psychological state called culture shock. The employees not only need to abandon their own culture, values and belief but also have to accept an entirely different culture. This exposure challenges the old organizational value system and practices leading to stress among the employees. Research has found that dissimilar cultures can produce feeling of hostility and significant discomfort which can lower the commitment and cooperation on the part of the employees. In case of cultural clash, one of the cultures that is dominant culture may get preference in the organization causing frustration and feelings of loss for the other set of employees. The employees of non-dominating culture may also get feelings of loss of identity associated with the acquired firm. In certain cases like acquisition of a lesser known or less profitable organization by a better one can lead to feelings of superiority complex among the employees of the acquiring organization. In case of hostility in the environment the employees of two organizations may develop us versus them attitude which may be detrimental to the organizational growth. 155

EFFECTIVE COMMUNICATION- THE KEY TO SUCCESS Clearly defined communication strategy during M&A plays an important role in removing the employee fears and kill rumors floating around in the organization. Studies show that communication strategy that involves senior managers of the acquired organizations work well. Involving other employees who are trusted by the employees for instance trade union leaders are also helpful. The employees meeting in small groups so as to discuss their concerns, fears and positive feelings also helps to lessen the stress on employees of acquired firm. The group meetings seem to help because many-a-times employees are reluctant to come out and speak their concerns, whereas in groups where everyone shares same set of feelings to an extent, it becomes easier to come out with the common set of concerns and fears. This also provides confidence to employees that the new management is willing to listen to their concerns and feelings, building an atmosphere of mutual trust. The transition period also becomes crucial from communication point of view. In case of lengthy transition period the employee stress increases, the best strategy in this period is to convince the employees that they are part of new organization and their concerns will be taken care of. The transition period can also be used to improve communication with the employees of acquired firm. Improved communication will help to better understand each others cultures and practices. Firms can also use this period to analyze the human capital of the acquired firm and define their possible roles in the new organizations. The transition period provides ample opportunity to design the new organization, explain the new roles to the employees, plan synergies and train the employees as the new role. This will make the integration process easier for the acquiring organization. "ADKAR" An Eye Opener for Employees To Adapt to Change This diagnostic tool helps employees understand where they are in the change process. As a manager, one can use this tool to identify gaps in the change management process and provide effective coaching for their employees. The ADKAR model can be used to: diagnose employee resistance help employees transition through the change process create a successful action plan for personal and professional advancement during change develop a change management plan for your employees The ADKAR model has the ability to identify why changes are not working and help organizations take the necessary steps to make the change successful. Organizations will be able to break down the change into parts, understand where the change is failing and address that impact point. The ADKAR model was developed by Prosci in 2001 after research with more than 700 companies undergoing major change projects. This model is intended to be a coaching tool to help employees through the change process. The ADKAR model is not an organizational change management model or strategy. 1. 2. 3. 4. Awareness. List the reasons you believe the change is necessary. Desire. List the factors or consequences (good and bad) for this person that create a desire to change. Knowledge. List the skills and knowledge needed to support the change, including if the person has a clear picture of what the change looks like. Ability. Considering the skills and knowledge identified in the previous question, evaluate the persons ability to perform these skills or act on this knowledge. 156

5.

Reinforcement. List the reinforcements that will help to retain the change. This process should give an employee, insight as to where he is in the change process, and what steps he/she can take to not only survive change, but advance professionally in a changing business environment.

TRANSFORMATIONAL ETHICAL LEADERSHIP- THE ANSWER TO THE CHANGING GLOBAL SCENARIO Many qualities of ethical and effective leadership characteristics such as communicating vision, demonstrating integrity, focusing on results, and ensuring customer satisfaction will never change. But three new factors have emerged clearly to deal with M&As Thinking globally but acting locally The trend toward globally connected markets will become stronger. Ethical leaders will need to understand the economic, cultural, legal and political ramifications. Ethical leaders will need to see themselves as citizens of the world with an expanded field of vision and values. Appreciating cultural diversity Transformational ethical leaders will also need to appreciate cultural diversity, defined as the diversity of leadership style, industry style, individual behaviours and values, race, and sex. They will need to understand not only the economic and legal differences, but also the social and motivational differences that are part of working around the world. Understanding other cultures is not just good business practice it is a key to competing successfully in the future. Sharing leadership Transformational ethical leadership is all about sharing and caring. Sharing leadership is a requirement, not an option. In dealing with knowledge workers, people know more about what they are doing than their managers do. So old models of leadership will not work. Transformational ethical leaders will operate in a mode of asking for input and sharing information. Transformational ethical leaders may be recruited to help mentor present leaders. All the more, it boils down to serving the organization with a servant heart.

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CONCLUSION As long as India continues to see a strong domestic economy and trends that enable increased globalization, we can expect exciting growth opportunities for Indian companies. Mergers and acquisitions will continue to provide an avenue to access the markets and tools required for sustainable growth. Effective merger planning and execution will demand greater attention as deals are increasingly cross-border in nature, involving unfamiliar markets, varying regulatory regimes and a mixture of cultures and languages. This will also put a premium on building capabilities in areas like corporate governance, cross-cultural management and leadership styles. Today, ethical leaders must guide their organizations and associates through an era of transition. Technology and access to information have altered the nature of our work processes, markets and our lives. Leaders are challenged to prioritize, digest, and distill information, creating unprecedented stress and chaos. Leaders must therefore respond to a new set of dynamics that invigorate the human spirit. The most admired leaders in the new work environment will be edu-leaders people who are driven by core values, who build trusting relationships through effective communication, and who move people and organizations forward by increasing the competencies in their employees.

IMPACT OF MACRO ECONOMIC FACTORS ON INDIAN STOCK MARKET AN EMPIRICAL STUDY

R.JAYAMURUGAN, MBA., M.Phil.,Assistant Professor, D. VASANTHA KOKILA, MBA., M.Phil., Research Scholar, Department of Management Studies, ARM College of Engineering and Technology, Chennai. Introduction Indian Stock Market is influenced by unprecedented changes around the world. The ever increasing investor population is witnessing these changes and makes unstinted efforts to understand the stock market. New policies and initiatives of the stock market then and there help to increase the investor base and also convert the potential investor to active investor. Now the active investor would like to predict the movement of stock market to gain abnormal retun for his investment. This study explores the nexdus between macro economic factors and the movement of Indian stock Market through a set of econometric tools. Macro economic factors selected for the study are Index of Industrial Production (IIP), Inflation, Money Stock (M1), Foreign Institutional In vestment (FII), and Exchange Rate (EXRATE). Objectives of the Study To examine the impact of macroeconomic factors on stock market. To analyze the causality between macro economic factors and stock market.

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DESCRIPTION OF THE VARIABLE SELECTED FOR THE STUDY DATASET GRAPH Data and Methodology The information regarding IIP, M1, EXRATE and WPI and the value of S&P CNX NIFTY index were obtained from the Reserve bank of India and nseindia website and equity master.com. the monthly data were collected from April 1999 to March 2009. Unit Root Test In order to avoid a spurious regression situation the variables in a regression model must be stationary or cointegrated. Therefore, in the first step, unit root tests were performed to investigate whether they were stationary or not. The Augmented Dickey-Fuller (ADF) unit root test is used for this purpose. The ADF regression equations are : Where ao is white noise. The additional lagged terms are included to ensure that the errors are not correlated. Grange Causality Test Granger causality is a technique for determining whether one time series is useful in forecasting another. Ordinarily, regressions reflect mere correlations. A time series X is said to Granger-cause Y if it can be shown, usually through a series of F-tests on lagged values of X (and with lagged values of Y also known), that those X values provide statistically significant information on future values of Y. Causality between any pair of variables may be uni-directional or bi-directional or none. The primary condition for applying Granger Causality test is that the variables in the pair should have staionarirty. The second requirement for the Granger Causality test is to apply appropriate lag length. In the study to test stationarity, ADF test is applied and found out that the variables are integrated of order one i.e. I(1). The second requirement for selection of appropriate lag length is done through AIC (Alkaie Information Criterion). The selected appropriate lag length is 4. RESULTS AND DISCUSSIONS It shows the summary of descriptive statistics of Log of Nifty, IIP, N1m EXRATE, and WPI. All the five variable have reported positive mean returns during the study period. The mean of M1 shows a higher mean (13.13036) followed by Nifty (7.440066) and IIP (5.245280). All e variables have a positive skewness except exchange rate. The series is non-normal according to the Jarque-Bera test, which rejects the null hypotheses of the given series are normally distributed for each variable. Another interesting fact is that four out of five variables do not have leptokurtic (Kurtosis > 2.58) distribution of returns while exchange rate (2.710083) alone has leptokurtic distribution. Augmented Dickey Fuller Test for statinarity of variables In order to investigate the stationarity properties of the data, a univariate analysis of each of the time series was carried out buy testing for the present of unit root. Augmented Dickey Fuller (ADF) tests (Dickey & Fuller 1979), for the time series of the individual data and their first differences are estimated and presented in Table@. Moreover both the models with and without trend are tested. The results in the table indicate that all the series are nonstationarity at their level. They become stationary after employing difference operator of degree one. That is, these series are integrated of order oneI(1). 159

Pairwise Granger Causality Tests **Significant at 1% and 5% level Table 4 presents the results of Pairwise Granger causality test. From the table it can be inferred that there is a uni-directional causality relationship between Nifty and Money stock (M1) and Inflation (WPI). The uni-direction between the variables runs in the following direction: (i) NIFTY granger causes M1 -NIFTY > M1 (ii) Inflation (WPI) causes NIFTY -INFLATION <NIFTY There is no causal relationship between stock market and the remaining variables i.e. Index of Industrial Production (IIP) and Exchange Rate (EXRATE). Conclusion The main objective of this study is to find out the role of mar\cro economic factors on the stock market. NIFTY Index is used as a proxy for stock market development. At the first step ADF unit root test is done to test the stationarity of all the variables and is found that they are non-stationary at their levels, but become stationary at the forst difference. Thus the series are integrated of order I (1). The Pairwise Granger causalitu test for the study period April 1999 to March 2009 is performed as the next step. Among the macro economic variables selected for the study INFLATION is the main factor which causes stock market (NIFTY) movement. The study has also found out that Stock Market causes the money stock movement.

FINANCIAL INCLUSION TASKS AND STRATEGIES

R.JAYAMURUGAN, MBA., M.Phil., Assistant Professor, D. VASANTHA KOKILA, MBA., M.Phil., Research Scholar, Department of Management Studies, ARM College of Engineering and Technology, Chennai. Introduction Financial inclusion is vital for inclusive economic growth. Economic growth is an issue of national concern. Experience has shown that increase in Gross Domestic Product (GDP) alone does not bring about inclusive growth. The assumption that increase in GDP would bring about an improvement in the economic growth of all. The Indian economuy has been showing excellent performance in terms of overall GDP growth, and other key parameters such as price stability, control of inflation, balance of payments foreign exchange reserves and financial markets. India is one of the fastest growing economies to-day. But the fruits of economic growth have not reached all the citizens of India. Genesis of Financial Inclusion Inclusive practices in the area of banking, are not new in India. Some of the banks were pursuing the policy of financial inclusion even in pernationalisation period. Syndicate Bank was pursuing this policy from its very inception. Dr. T M A Pai, who founded syndicate Bank in 1925, had declared that no man was too small for a bank account. This slogan of Dr.Pai epitomized the inclusive banking practices adopted and implemented by Syndicate Bank at that time. It was in pursuance of this policy that the Bank launched pigmy deposits scheme in 1928. through this scheme, the Bank tried its utmost to bring into its fold small businessmen, wage-earners, hotel keepers, people engaged in their own profession or 160

vacation, such as, goldsmiths, blacksmiths, carpenters, doctors, lawyers and the like. It was the intention of the bank to bring into its fold vast sections of disadvantaged and low income group people. Need For Financial Inclusion The economic growth that we have been able to achieve is not adequately inclusive. In the recently released draft approach paper to the eleventh five year plan the planning commission has stressed the need for faster and more inclusive growth during the eleventh plan period. It has been observed that in may cases economic growth is accompanied by skewness and exclusion of large number of people and many sections of society from the growth process. This is because of the lack of a link between growth, equity and inclusion as part and parcel of the policy objectives and framework. It is imperative therefore that new mechanisms must be evolved to include all sections of society as an integral part of the globalization process so as to enable them top derive maximum benefit from the process. Inclusive growth covering the process of reach9ing the benefits of growth to all individual citizens and all sections of society is very vital. Meaning and Definition of Financial Inclusion Inclusions is a process of covering or bringing in. inclusive growth implies that all individuals and groups of individuals and all sections of society including the poorest of the poor should be made active participants in the growth process. Financial inclusion may be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. Rangarajan Committee on Financial inclusion. Financial inclusion is a means to achieve inclusive economic growth. Financial inclusion involves bringing into banking fold all those who presently stand excluded from the purview of banking. The 11th plan draft approach paper has correctly identified that to achieve higher sustainable and equitable growth for the country it would be imperative that domestic savings particularly from the household should increase. Such savings would then need to be channelized to the productive sectors to attain the desired growth objectives. Indicators of Financial Inclusion Several indicators have been userd to assess the extent of financial inclusion. The most com0nly used indicator has been the number of bank accounts (per 1000 adult persons) some other indicators are number of bank branches (permillion people), amount of bank credit and amount of bank deposit. The following tables disclose the various indicators of financial inclusion. As shown in Table 1, the number of bank accounts per 1000 adults is highest in Russia, followed by Thailand, Malaysia and Colombia. However, if we look at the number of bank branches per 100,000 adult people, Russia ranks the lowest. Looking at another dimension of an inclusive banking system, that is, usage of the banking system in terms of the volume of credit and deposit, Argentina seems to be having very low credit to GDP ratio in spite of moderate density of bank accounts and bank branches. In India, in spite of low density of bank branches, the usage of the banking system in terms of volume of credit and deposit seems to be moderately high.

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it is learnt from the above table that total accounts per 100 persons are still to less! Source : Report on Currency and Finance 2006-08 It is learnt from the above table that very low percentage in people having bank accounts in Annual incomes less than Rs.50,000 bracket in urban and rural area. Even in Higher income bracket exclusion exists. Source : report on Currency and Finance 2006 08 (IIMS, 2007) It is understood from the above table that People having Annual incfome less than Rs.50,000 bracket still heavily dependent on money lenders. Source : report on Currency and Finance 2006 08 (IIMS Survey, 2007)

New Initiative The new initiative is nothing but repetition of history. In a country like India, where over 26 percent of the population is living below the poverty line, the policy of financial inclusion is very vital. Savings of people including the poorest of the poor, however, small they may be, have to be pooled for augmenting resources for development. Similarly, financial assistance from banks, should flow to all, including the disadvantaged sections of society. Banking exclusively for the richer sections of society well result in denial of banking facilities to the poor permanently. Hence, the new initiative augurs well for the future. India is now, one of the fast growing economics in the world. In the coming years, rate of economic growth is likely to go up to 9 or 10 percent. With higher rate of growth and speedy increase of GDP, opportunities for financial intermediation will increase and grow. Reserve bank of India has directed all banks to open No-Frill Accounts, allowed over draft in saving bank account, Liberalized branch expansion ATM, Introduced technology products and services, Pre-Paid cards, Mobile Banking, allowed Co-operative banks to sell insurance and financial products and the like. STRATEGIES The new scheme of nofrills savings bank accounts must reach the target groups. The forms for opening savings bank accounts, withdrawal and pay-in-slips should be printed in local language. Timely credit should be extended to the poor when they are in need, with out coumbersome procedures. Banks should launch special campaigns for canvassing SB accounts of all house holds, both in rural and urban areas. All the staff members should be actively involved in this effort. Bank should come out with new initiatives and innovations. Schemes like, pigmy deposit- a scheme when under, small amounts of deposits are collected at the door steps of people will be a useful medium for achieving financial inclusion. Financial inclusion would require customer friendly and in-house training for staff. House of workman be extended at branches. Opening of accounts of all households, mobilizations of small deposits and dispensation of micro credit should take the form of a peoples movement. Opening of bank branches at all unbanked rural and under-banked urbun areas, is a prerequisite for bringing all households into the banking fold. Rural branches can be opened with minimum staff in order to reduce cost. Banking should also establish low cost ATMs at rural centers and provide debit cards to customers. Post Offices, co-operative societies, self help; groups, micro finance institutions, etc can be appointed as agents of banks so as to bank the un-banked. 162

REPORT OF THE FINANCIAL INCLUSION OF INDIA The report of the financial inclusion off India discloses the following setting up of a national Rural Financial Inclusion Plan with a target of providing access to financial services to at least 50 per cent ( 50.77 mn) of excluded rural households by 2012 and the remaining by 2015. Encouraging SHGs in excluded regions, measures for urban micro-finance and separate category of MFIs. RRBs to extended banking services to unbanked areas. Use of PACs and other co-operative as BCs and co-operative to adopt group approach for financing excluded groups. CONCLUSION Achievement of total financial inclusions ins not easy. It will be a national challenge. Commercial banks alone cannot face the challenge single handed. The efforts of commercial banks will have to be supplemented by co-operative banks and co-operative credit institutions. According to the former Finance Minister Sri P Chidambaram, co-operative credit system is one of the critical instruments for reaching out banking services to rural house holds. He has also opined that unless co-operative credit system reforms are completed , it is not possible to achieve total financial inclusions.The Union Government has already accepted the recommendations made by the Vaidyanathan Committee for strengthening the co-operative credit system. But, without active involvement and support of State Government, reform of co-operative credit system cannot be undertaken. Therefore, State Governments must come forward and involve themselves actively in the restructuring of co-operative system. After such restructuring, co-operatives can join hands in achieving total financial inclusion.

IMPACT OF E-FINANCE IN ECOMMERCE-INNOVATIONS AND CHALLENGES

K.BHAGYA LAKSHMI, Assistant Professor. School of Management Studies Chaitanya Bharathi Institute of Technology, Hyderabad, AP -500059 Abstract- Electronic financial services have spread quickly in global world of today due to its new innovation. E-Finance has changed the structure and nature of financial services. The spread of e-finance to financial services has been expanded across countries. The new efinance providers from outside are now offering e-finance services. The impact of e-finance is not limited to industrial countries and reached the most advanced emerging markets. For countries with underdeveloped financial systems, e-finance offers an opportunity to leapfrog. The purpose of the study is to find out the impact of e-finance in the ecommerce and new innovations and challenges faced by financial services. And its role, awareness in financial products and services in the current management system. To Identify future path of e-finance in a rapidly changing environment.The study aims to find out application of technology to e-finance growth in the international finance, trade and investment. Keywords: E-Finance, International Trade, Emerging technology, e -commerce, new innovations. Introduction: In todays world, due to globalization, privatisation and liberalization Internet technology plays important role. Among the financial services sectors. Financial sector is one of them 163

which introduced ecommerce by latest technology which enable new financial services for customers Ecommerce refers to apparatus and shapes of trading actions that are carried out all the way through Internet. It has made easy in dealing commerce, which assists in encouraging and dealing products or commodities as these technologies improve the efficiency and decrease the costs of business transactions. While E-finance is defined as The provision of financial services and markets using electronic communication and computation defined by Allen et al (2002). Electronic financial services are provided through online and have spread quickly in recent years. E-finance activities include all types of financial activities carried out over the cyberspace or other public networks, such as online banking, electronic trading, provision and delivery of various financial products and services such as insurance, mortgage and brokerage opined by Franklin Allen et al. (2002) The UNCTAD defines e-finance as that of financial services delivered through Internet or online. Birch and Young (1997) analyzed the usefulness of e-banking to customers and it resulted that consumers look for transactional efficiency, and much preference is given for core and non-core banking products to gain at competitive prices and returns. UNCTAD/SDTE/Misc stated that Internet technologies have now penetrated all aspects of financial services industry, both retail and wholesale, back-office and front office, information and transaction. While (Clemons et al.) consider the impact of trends on the financial services industry which resulted in Improvement in price transparency potential and also leads to increased competition and reduced profit margins. Andrew Fight (2002) defines e-finance all which relates to the linking of business, finance, and banking via electronic means, encompassing information gathering processing, retrieval, and transmission of data as well as the transmission, purchase, and selling, of goods and services e-banking has a positive impact on the profits of banks. Studied by Onay et al (2008) in his research on Turkish banks and stated that internet has changed the dimensions of competition in the retail banking sector and provided opportunities for countries to build up their financial intermediation infrastructure. Siam (2006) examined the impact of ebanking on Jordanian banks and concluded that majority of the banks are providing services on internet through their websites and articulated strategy to achieve success and profits in the long run strategy while Mukul Pareek, in his study viewed that e-finance changed task from transaction processing to true business partnering, with far reaching implications on interactivity with customers, suppliers, and others within the organization. Freund and Weinhold (1999) found evidence that, development of global markets via the Internet makes historical linkages less important and suggest that developing countries which have less trade links has more benefit from the Internet. E-commerce, through the Internet, had increased permeate human activity altering relations and transactions in the economy, stimulating trade and commerce brought fundamental changes in the market.E-finance has grown very fast in many markets. This growth reflects expansion patterns of certain services and products with network externalities, such as telecommunications and some financial services (Furst, Lang, and Nolle 1998a) Need for the study: The purpose of the present study is to provide an overview and role of e-finance and ecommerce in trade and investment. To understand the e-finance awareness & its need in the current management system. Discuss related issues and challenges and investigating advances and innovations in e-finance. The research can be considered as exploratory and descriptive

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OBJECTIVES: 1. The present study identifies the role of E- Commerce & E- Finance in International trade & Investment. 2. To understand the innovations & future challenges related to E-Finance. 3. To identify impact of E-finance in E-commerce. E-finance includes Online Banking: It includes automatic payroll deposit, automatic bill payment and transfer funds from one account to another, viewing account status and transaction history. Purchasing by credit card: In these transaction credit card numbers are sent via internet from buyer to the seller Brokerage transactions: These transactions substitute the internet for the telephone or in person transaction. Investment research: Investors may perform research into companies whose shares they are considering for purchase or sale, future contracts or other derivatives. Filling of company reports and tax returns: Companies can file required reports with government agencies via internet E-Insurance: Buying and selling of insurance products online is called e- insurance. It can be Life, Health, Vehicles (General) insurance etc Need for the E finance: E-finance emerges due to advancement in technology in every sector. And it leads to development in financial service sector. It helps to remove Boundaries between finance , technology and information and also financial institutions and technology providers. It helps to work in less paperwork it saves transaction costs Key drivers for evolution of E-Finance: Technology: Computer, Internet and Telecommunication Technologies enabled businesses to be conducted in a fast, efficient and secure way. Globalization: Worldwide liberalization of trade and investment facilitated the growth of global business including the Internet based e-business and e-finance. Regulations: Both deregulations of the finance industry and re-regulations of e-commerce facilitated the growth though in some areas lacking behind technology. Entrepreneurship: Creativity allowed entrepreneurs, start- ups and seasoned companies to break old economy traditions and deliver business solutions through new, exciting and often radically different structures. Capital: Capital provided the financial means to put these technical and human wheels in motion.

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Competition: The above factors created a globally competitive environment and pool of talents to compete for introducing new technologies, concepts, and models. E-Finance sector can be divided into five broad categories: 1 Business to business (B2B) 2 Businesses to Consumer (B2C) 3 Consumer to consumer (C2C) 4 Technical infrastructures to support the e-Finance platform 5 Global, institutional and regulatory environment that facilitate the functioning and growth of e- commerce and e-finance The role of E- Commerce & E- Finance in International trade & Investment Financial services are increased electronically, while a number of factors appear to influence the penetration of e-finance throughout the country and therefore realized its potential and require addressing further challenges. According to IAMAI, the sectoral umbrella body, current e-commerce market in India is around $ 10 billion, while US e-commerce market is set to touch $ 200 billion in 2013, growing at 17 per cent. It also says that even though there are only under-10 million internet users who actually buy online in India, there are about 150 million internet users or around 75 million households that are 'ready' for e-commerce. E-commerce market has the potential to grow anywhere between $ 70 billion and $ 150 billion under one scenario, and at a more robust growth scenario it can grow between $ 125 billion and $ 260 billion by 2024-25. An E-finance technology reduce asymmetric information as they lower the costs of communication, computation and data processing, and allows buyers and sellers of financial assets to have more equal access to information. As these technologies have greatest effect on the banking industry (and on other financial intermediaries), where the asset transformation role has been dramatically affected by reductions in transactions and information costs. e- Finance technologies bring large scale economies. E-Finance Technologies in Payment Services proved that Electronic communications technologies have been used in the banking sector for many years, particularly in interbank payment systems. Electronic commerce has been spread at very fast rates in world trade in goods and services which increased electronic delivery and it has impact on trade and employment. Future challenges Information Infrastructure facilities: there is need to build and expand necessary information infrastructure facilities like availability with high speed interactive communication infrastructures that provides access, low network delay and reasonable access and usage prices to both customers and service providers. Regulatory Frameworks. Proper regulatory frameworks need to be devised with the capability of fostering competition, ensuring an efficient allocation of resources, and protecting the interests of consumers. Legal Security. Security and privacy are important in electronic commerce and promoting consumer trust in information systems is essential and protection of availability, confidentiality and integrity of information systems is necessary Payment and delivery. Lack of online payment facilities and scattered use of credit cards among the customers, which shows that consumers use the Internet at present for 166

information collection purposes but conduct their business offline. E-commerce has to be widespread in all the regions while; reliable and secure payment systems need to be developed. Improvements in the postal service infrastructure for distributing goods and services are also needed. Skills. Expansion of Internet use and electronic commerce would require development of human resources. The transition of knowledge-based economy has to be developed via computer and communications networks. This can be adapted to fit the new production needs. Global players: As more global players enter the e-commerce space, lack of common taxation rules can also hinder growth in future. This would need to be resolved in order to extend the reach and improve the e-commerce Impacts of e-finance E-finance transaction process takes place with straight through web-enabled processes and plays important role in business process in the world of e-business without the need for manual intervention. E-finance and financial accounting Internet-based accounting services have expanded their scope to include linked Web Storefronts, online purchasing, and small-business sales-force automation and customer relationship management applications. Due to the integration of e finance technology there is increase accuracy in information which enables Electronic distribution financial reports via email E-finance as information service provider E finance as information service provider ranks high on the list for transformation in delivering information throughout the enterprise like converting to a variety of formats and delivering via intranet report libraries or e-mail via online which becomes Easy access of information to make good decisions in business Impact of e-finance on international business/trade International business/trade had expanded due to the viability of internet. Many virtual network intermediaries have developed and enabled more services to customers through evolution of digital environment Conclusions: Electronic commerce has been spread at very fast rates in world trade in goods and services which increased electronic delivery and it has impact on trade and commerce while Efinance growth has been increased since last few years due to the adoption of internet technologies around the world. E-finance offers an opportunity of leapfrog to underdeveloped financial systems. As the world is moving towards electronic advancement the growth of e-finance is good in the future, therefore our country should also take charge for e-services. The financial service provider should focus on building a positive attitude for the customers towards electronic services, e-finance through e commerce which may results in increased e-finance usage. Government should create awareness among the people about the e-services in financial sectors and the implement the key of regulatory measures, such as electronic signatures and cross-border contacts which encourage further growth in ecommerce. 167

References 1. Allen, F., McAndrews, J. and Stratran, P. (2002), E-finance: an introduction, Journal of Financial Services Research, Vol. 22 Nos. 1-2, p.p. 5-27. 2. Allen, H., Hawkins, J. and Sato, S. (2001), Electronic trading and its implications for financial systems,Working Paper, BIS Papers No. 7, Bank of England. 3. Birch, D., & Young, M. A. (1997). Financial services and the Internet what does cyberspace mean for the financial services industry? Internet Research: Electronic Networking Applications and Policy, 7(2), 120-128 4. E-Finance: An Introduction Dasgupta, P. (2002) Future of e banking in India 5. E-commerce and Development Report (2002), UNCTAD, UN, Geneva, available at: www. commercenet.org/ documentos/ UNCTAD% 20Report% 20on%20ecommerce%202002.pdf 6. Furst, Karen, William W. Lang, and Daniel E. Nolle. 1998a. (Technological Innovation in Banking and Payments: Industry Trends and Implications for Banks.) Quarterly Journal 17(3): 23-31 7. Freund, C. and Weinhold, D. (1999), On the Effect of the Internet on International Trade, International Finance Discussion Papers, No. 693, December 8. Onay et al (2008) The impact of Internet-Banking on Bank Profitability-The Case of Turkey,oxford business and conference program ISBN978-0-9742114-7-3 9. Siam, A. Z. (2006). Role of the Electronic Banking Services on the Profits of Jordanian Banks. 10. Shahrokhi (Craig School of Business, California State University, Fresno,USA) E finance: status, innovations, resources and future challenges Meyer Thomas May 2010 Little use of advanced services E -finance at small firms

E-FINANCE
MRS.M.DHARANI, MS.N.PRIYA NANDHINI, & MR.C.EAHAMBARAM, Assistant Professors, Department of Commerce with CA, Dr.N.G.P Arts & Science College, Kalapatti Road, Coimbatore - 48. INTRODUCTION: Finance is the science of funds management. The general areas of finance are business finance, personal finance, and public finance. Finance includes saving money and often includes lending money. It seems that everything now has an "e" in front of it. Finance, like any other function, is subject to profound changes because of e-commerce. E-finance-including investing, banking, mortgage lending, and insurance-will grow at a dazzling rate in the coming years. It's a reflection of the spectacular growth of the Internet. In just five years, the World Wide Web has gone from being terra incognita to becoming a ubiquitous medium for transacting business, sharing information, and communicating with people all over the world. E-finance will empower both consumers and businesses, enabling them to reduce transaction costs, speedily process documents online, and have instantaneous access to information. For businesses, online finance can dramatically improve efficiency and decrease the costs of 168

internal business functions such as expense reporting, contract labor management, and timeand-billing procedures. Plus, by providing personalized information about consumers, the Internet lets companies engage in "one-to-one marketing," allowing them to tailor the online experience to fit unique individual needs. The technology for making E- Finance happen usually consists of three layers: Database servers that manage the data. Application servers that distribute information to end-users. Clients - Personal Computers, Laptops, Workstations, etc. Unique risk: Integration of processes into one integrated system is extremely difficult. Critical applications may be down, resulting in major interruptions of business processes. Loss of personal interaction since everything is now electronic. Corrupted or compromised information. However, the benefits of E-Finance are enormous: Increased productivity. Faster and better decision making. Better collaboration through a consistent, standard process. 1.BANKS PERSPECTIVE ADVANTAGES A. ADDITIONAL REVENUES Internet banks were allowed to generate additional revenues from being allowed to offer new fee based services and magnify the usage of existing products and services offered. Additional revenues can be classified into two groups: 1. Home Banking Offerings 2. Cash Management Offerings Home Banking Offerings, include the basic internet banking services such as bill payment and presentment, shopping online, viewing balances etc. Cash management offerings exceeds home banking by allowing commercial users to manage their businesses as well as their personal finances such as handling many account at once, transfer funds between accounts, handling foreign exchanges between different currencies, viewing monthly account billing statement and scheduling different payments. B. OPERATING COST REDUCTION Internet based banks were allowed to reduce costs of their operations. Cost saving can be realized through less reliance on manual operations and calling centers. Internet banking allows banks reduce costs and provide the following scenarios: Internet banking will allow banks to reduce customer service staff, Electronic payment will replace checks and costs of processing these checks will decrease. E-mails will replace mails, and electronic applications will replace paper ones. Consumers can open new account online, in addition they can apply for financial services from their homes and the result will be less data entry by the banks personnel.

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C. CUSTOMER RETENTION Customer retention is a prime advantage of internet banking under the condition of offering a wide range of services on a banks web site, existing customers will be more likely to stay and new customers can be attracted to join when they are informed. DISADVANTAGES Transaction Risk: Transaction risk is the current and prospective risk to earnings and capital arising from fraud, error, and the inability to deliver products or services, maintain a competitive position, and manage information. A high level of transaction risk may exist with Internet banking products, particularly if those lines of business are not adequately planned, implemented, and monitored. Reputation Risk: Reputation risk is the current and prospective impact on earnings and capital arising from negative public opinion. A banks reputation can be damaged by Internet banking services that are poorly executed or otherwise alienate customers and the public. Well designed marketing, including disclosures, is one way to educate potential customers and help limit reputation risk. Strategic Risk: Strategic risk is the current and prospective impact on earnings or capital arising from adverse business decisions, improper implementation of decisions, or lack of responsiveness to industry changes. Management must understand the risks associated with Internet banking before they make a decision to develop a particular class of business. Credit Risk: Credit risk is the risk to earnings or capital arising from an obligors failure to meet the terms of any contract with the bank. Internet Banking provides the opportunity for banks to expand their geographic range. In dealing with customers over the internet, it is difficult to understand the willingness of the customer to pay the debt when there is an absent of any personal contact. Liquidity Risk Liquidity risk is the risk to earnings or capital arising from a banks inability to meet its obligations when they come due, without incurring unacceptable losses. Liquidity risk includes the inability to manage unplanned changes in funding sources. Internet banking can increase deposit volatility from customers. Increased monitoring of liquidity and changes in deposits and loans may be warranted depending on the volume of Internet account activities.

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Foreign Exchange Risk: Foreign exchange risk is present when a loan or portfolio of loans is denominated in a foreign currency or is funded by borrowings in another currency. Banks may be exposed to foreign exchange risk if they accept deposits from nonU.S. residents or create accounts denominated in currencies other than U.S. dollars. Appropriate systems should be developed if banks engage in these activities Price Risk: Price risk is the risk to earnings or capital arising from changes in the value of traded portfolios of financial instruments. Banks may be exposed to price risk if they create or expand deposit brokering, loan sales, or securitization programs as a result of Internet banking activities. Appropriate management systems should be maintained to monitor, measure,and manage price risk if assets are actively traded. Interest Rate Risk: It is the risk to earnings and capital arised from the fluctuating interest rates. Internet banking can attract deposits, loans and other relationships from a larger pool of customers. Greater access to customers forces managers to maintain appropriate asset liability management systems, including the ability to react quickly to changing market conditions. 2- CONSUMER PERSPECTIVE ADVANTAGES A. BANKING ANY TIME Banks who offers internet banking services open 24 hours a day, no weekends and no vacations. For that, clients can access, modify and conduct their banking activities any time they want with no delays. B-BANKING FROM ANYWHERE The presence of large number of PCs connected to the internet has allowed customers to conduct their banking activities from their home, office or even public places. C. BETTER PRICES and INTEREST RATES On average it was found that internet banking transactions costs are much lower than conducting the same transaction traditionally. D. SAVING TRANSACTIONAL COST Internet banking allows users to conduct their banking activities almost from any place where a computer is available; therefore users are allowed to save their traveling costs. In addition they can save money by cutting down postage and government charges. E. DIRECT AND CONTINUOUS CONTROL TO ACCOUNTS In traditional banking activities, the procedure is to ask the bank to conduct transactions and then the bank will act on behalf of the customer

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F. CUSTOMIZATION Customers are able to customize their banking site in the format they want. If available, they can customize their site to provide the information they want, they control how those information are shown, display particular product of their interest. G. FASTER SERVICE and NO WAITING in LINE As they learn how to bank online, consumers can conduct their banking activities in a relatively shorter time compared to that needed to visit their physical branch. H. EXTRAORDINARY BENEFITS Consumers can benefit from the other services offered that are not provided by banking off-line such as: Bill presentment and bill payment service by which they can receive their bills via the bank e-mail and schedule future payment automatically. Funds management services by which they can download their history of different accounts and conduct a sensitivity analysis before even starting to make any transaction. Financial tools can be used by corporate users such as financial calculators, loan calculators and other tools that help users to make their financial decision. DISADVANTAGES A. EXTRA REQUIREMENTS Although it might seem like that in some countries where the majority of households and businesses have PCs that are connected to internet, it is hardly believed that it is so in other countries where computer and internet penetration are relatively low or moderate. B. KNOW-HOW IS REQUIRED Clients should know how to use computer and they should be familiar with using different internet applications. They should also be updated with instructions by their banking service providers and regulatory authority to know how to protect their accounts. C. NO FACE to FACE CONTACT There is no opportunity for direct interaction between customers and their bank. Face to face contact is essential for dealing with complex products such as pensions and certain types of investment that require careful explanation and discussion. D. SECURITY CONCERNS Transacting funds via the internet means that confidential data might be viewed and further used without the permission of the original owners. While security is provided mainly by bank, users should be kept to update knowledge and latest updates of antivirus programs and protection tools. E. BANKS SYSTEM and BANK RELIABILITY Conducting internet banking services is based on a large number of computer networks that starts with users PC and ends with the banks server. Thus, any mistake between the two extremes may prevent users from conducting their banking activities; if one is down users can not access their accounts. 172

3- REGULATORY AUTHORITY Internet itself is not a secure medium, and thus, it poses a number of concerns to regulators and supervisors of banks and financial institutions. These concerns are: A. CROSS BORDER ISSUES The emerging of internet banking has removed geographical barriers and has allowed banks and customers to meet although they operate in different countries. B. CUSTOMER PROTECTION AND CONFIDENTIAL ISSUES Security of internet banking is one of the most important areas of concern to regulatory authority, transacting business across the internet exposes data transmitted to be viewed by unauthorized agents who may then use it without the user approval. C. COMPETITIVENESS AND PROFITABILITY ISSUES For the benefits delivered by internet to banks, many will rush to adopt and for banks that lack enough funds, they will abandon or at least delay in their adoption. INTERNET SERVICE PROVIDERS As customers realize the importance of internet banking services, with each new internet banking customer, internet service providers (ISPs) will gain a new customer. On the other hand, it is expected for internet usability to increase in term of time spent surfing the internet, and this will increase ISPs revenues. ISPs will have to provide higher quantity and quality of internet services and this will require additional investments in hardware, software and marketing. CONCLUSION: Financial services are highly dependent on technology and well-suited to remoted delivery; technological advances and the advent of the Internet are causing dramatic changes in the industry. This revolution could accelerate financial sector development by lowering the costs, increasing the breadth and quality, and widening access to financial services. This paper analyses the changes in the industry and their implications for public policy. It finds that, over the long term, there will be an opportunity to reduce the financial sector safety net and correspondingly prudential regulation and supervision. Over the short term, authorities should be wary to extend the safety net. In addition, competition policy, consumer protection, and consumer education will become more important. Though these issues are more advanced in developed countries, they are quickly becoming more relevant in emerging markets.

ECONOMIC IMPACT OF MICRO FINANCE A COMPARATIVE STUDY OF SHG IN TIRUNELVELI DISTRICT

R. SRIDEVI, Research Assistant, Dr. S. MOOKIAH, Associate Professor cum Deputy Director & N.SUJA, Ph.D. Research Scholar in Economics Centre for Study of Social Exclusion & Inclusive Policy Manonmaniam Sundaranar University Tirunelveli-627012

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ABSTRACT In recent years the self help group approach to poverty allocation is getting recognition in India. Mostly women are mobilized into groups for undertaking mutually beneficial social and economic activities. The groups provide base self employment and empowerment through group dynamics. In India, these mutual help based groups are known as SHG or Micro economic policy. (Small scale Industry) Micro Finance campaign through women SHG has indicator new forms of institution and organizational structures that make it feasible, for the poor to get uncollateralized loans. Very few empirical studies have been conducted in Tirunelveli District, on the growth and development of SHGs issues in informal finance, and perspectives from a rural area. This clearly shows that there is limited work on the economic evaluation of rural financing through SHGs in India as well as in Tirunelveli District. Introduction India represents 16.7% of the worlds population. Our country has a threefold increase in population over the last half a century but the economy has not been able to cope with this rate of growth. Women constitute nearly half of the nations population. They have tremendous latent potential to contribute in harnessing technology for human and social development. Women have collectively struggled against direct and indirect barriers to their self development, their social political and economic participation. Changes are taking place in rapid strides. They are no longer restricted to traditional economic and societal activities. Number of measures have been taken nu the government for social and economic emancipation of women. Among the measures, SHG programme plays a vital role for empowerment of women. SHGs are voluntary associations of women/men residing in a given area formed democratically and without any political association. It was revealed in a survey conducted by NABARD (1994) that micro finance can be a powerful instrument initiating a cyclical process of growth and development. It has improved the access to rural poor to financial services, both savings and credit. The increased access signifies overcoming isolation of rural women in terms of their access to financial services and denial of credit due to absence of collateral. The pool of savings generated out of very small but regular contributions improved access of the poor women to bank loans. It could also help in strengthening poor families resistance to external shocks and reducing dependence on moneylenders. The observed support for consumption smoothening would not have been possible, but for the SHGs internal support. The predominance of borrowing for crop cultivation reflects support for meeting working capital needs. Possibilities could be explored for using SHGs as a strong conduit for purveying crop cultivation loans to very small and marginal farmers to step up crop loan finance. Self-Help Groups: Mahalir Thittam project was launched with state Government funding from 1997-1998 and was progressively introduced in all districts of the state. Today the SHG movement is a very vibrant movement spread across all districts of the state with nearly 59, 00,000 women as members. As on 31.3.2009, there are 3, 91,311 SHGs with a total savings of `2062.04 crores. Tamil Nadu Corporation for Development of Women (TNCDW) Ltd. was started in 1999 at Tirunelveli District. The number of SHGs formed in this District is 18,985 till 2010. 174

In Tirunelveli District, a number of groups have involved in income generating activity. These groups consist of 12-20 members. All these groups have been trained in book keeping, credit management and social issues. The Self-Help Group [SHG] is considered as a voluntary association of poor people. They are mostly having some socio-economic background. They are involved in solving their common problems through self-help and mutual help. It creates small saving among the members and the amounts are kept with any bank. The SHGs have a membership of 15 to 20 members. A self-help group is also defined as a voluntary group valuing personal interaction and mutual aid as means of altering or ameliorating problems perceived as alterable pressing and personal by most of its members. It is also defined as a group of rural poor generally comprising of small/marginal farmers, land less agricultural labourers, rural artisans, women folk and other micro entrepreneurs who organise themselves to, achieve socio-economic development by raising resource at their level initially and linking with the bank subsequently with the help of NGOs [www.aidindia.org] SHG may also be defined a voluntary association formed for the purpose of engaging small enterprise. To form this organisation, it requires a minimum of twelve Individuals. The members of SHG form and work together. The bankers provide loans to this group. To put it simply, a self-help group is any group that offers emotional support and practical help with a problem that is common to all members. Participation in Activities related to Self Help Group Basically, they were involved in thrift to enable provision of credit for the members. But now they involve in economic activities such as production and marketing of agarbathis, candle soap, readymade garments, pickles, appalam, toys, bags, palm leaf products, dhotis herbal products, fancy sea shell, ornaments, eatables, coirmat, mattresses, chappals, leather goods, paper cups, paper bags, paper covers, terracotta dolls, Pvc Pipes, murukku, mix, idiappam mix ragiflour wheat flour, etc. Womens participation and empowering in rural development has been concern of serious and hard to believable in India. Today it is not only possible but also nothing any else possible without womens participation in any area. Now day women are aware about education, socio-economics, negotiation, rights and their development so that women are empowering day by day and participate in every developmental activity. In sector of rural area there are women participating an important role in socio-economic development in family and society as well as rural development. Government and much voluntary non voluntary organization are supports and help rural women to their empowerment and development by formation of Self Help Group, education and awareness programme. Now everybody know that no development without womens participation in rural and every area and womens are conscious it. Objective of the study The objective of the present study is to analyze the impact of microfinance on the attitudes of the SHG womens in Tirunelveli District. Review of Literature Laxminarayanan Ramanathan (2011) his study shows that the women has a group are consistently better in promptness and eligibility of repayment. Targeting women in these mainstream programmes has been a very effective method of ensuring that the benefits of increased income accrue to the general welfare of the family, and particularly to the 175

children. At the same time women themselves benefit from the higher status they achieve when they are able to get new income. His article proposes to analysis the impact that self help group bank linkage programme has made on socio economic conditions of the SHG members of Aghai, Gorhe, Dahana and Jawarhar villages in thane district maharastra during the period of 2004-2009.(Source: southern economist volume 49 No.21.49th yer of publication march 1 2011 page 13 to 16) Rajendran Karuppannan 2012 his study shows that the Self Help Group and Micro finance creates an impact on the rural livelihood by reducing poverty and empowering women. Social and economic empowerment leads to development and the development relieves people from poverty. The status of Self Help Group in India, Tamil Nadu and Vellore District in the first section and next section covers the sustainable alternative livelihood practice followed by the members of the Self Help Groups with the guidance of Non Governmental Organizations/Voluntary Associations and banks in Vellore District. These new alternative livelihood activities supplemented some familys main income and it became the main source of livelihood to some families. .(Source: southern economist ) Sampling The simple random sampling was used for the study with a sample of 60 respondents in self help group membership and non self help group membership. The samples are respondents were selected as a control group (SHG) from the same villages, the same religion, same caste, same marital status and age. The data were collected by the structured interview schedule Micro Financing in India: Microfinance refers to small savings, credit and insurance services extended to socially and economically poor segments of society. It is defined as provision of thrift, credit and other financial services and products of very small amounts distributed to the poor in rural and semi urban or urban areas, for enabling them to raise their income levels and improve living standards. At present a large part of micro finance activity is confined to credit only. Women constitute a large number of users of micro credit savings and services. The micro financing schemes in India came with the introduction of SHG concept by NABARD for the first time in the government sector. The NABARD concept of SHGs is extensively prevalent in India. NABARD a bank for rural development has conceived the concept of SHGs with full support and vigour and succeeded in establishing that Self-Help is the best help to progress. There are three approaches emerged in the SHG concept. 1. NGOs facilitated SHGs in which the NGOs would be helping the members to form the group and arrange to get the support from financial agencies directly just playing a facilitators role. NGO intermediated in which not only the NGO would form and organise the groups but also extend credit directly to members either getting from banks or other promotional agencies. Directly formed SHGs, which are formed by the banks and credit, extended directly to them without any facilitating or intermediating agencies.

2.

3.

It is necessary to find out which of these approaches would be sustainable so that the contribution of SHGs in the initial years would continue to exist throughout the period. It was revealed in a survey conducted by NABARD (1994) that micro finance can be a powerful instrument initiating a cyclical process of growth and development. It has 176

improved the access to rural poor to financial services, both savings and credit. The increased access signifies overcoming isolation of rural women in terms of their access to financial services and denial of credit due to absence of collateral. The pool of savings generated out of very small but regular contributions improved access of the poor women to bank loans. It could also help in strengthening poor families resistance to external shocks and reducing dependence on moneylenders. The observed support for consumption smoothening would not have been possible, but for the SHGs internal support. The predominance of borrowing for crop cultivation reflects support for meeting working capital needs. Possibilities could be explored for using SHGs as a strong conduit for purveying crop cultivation loans to very small and marginal farmers to step up crop loan finance. Impact of Micro Credit: The impact of micro finance is several counts on society. The United Nations Capital Development Fund (2005) emphasizes that because of the interconnection of financial power, poverty and women, micro-finance has an active role in improving economic equality in developing countries. Other analytical results show a definite economic impact on households in terms of income, schooling expenditure and decline in vulnerability. Reliance on moneylender, control and manage over resources, changes in behavior, withdrawal of male support, independent decision-making, self- confidence, awareness and participation in local politics and mobility are also documented. An indicative change is also observed in to growing resistance of women t different forms of abuse and family violence. In south India, significant improvements in fertility rates, female literacy, participation in development programees and economic independence are evident.(reddy 2005). The members have experienced the benefits of credit discipline by being able to save and borrow regularly without many hassles (Wilson, 2002). Economic profile of the Respondents The study reports that out of the total 60 samples selected for the study, three respondents (5.4 percent) are in the age group of 20 to 25 years. Six respondents (10.7 percent) are in the age group of 26 to 30 years. Eleven respondents (19.6 percent) are in the age group of 31 to 35 years. Thirteen respondents (23.2 percent) are in the age group of 36 to 40 years and 23 respondents are in the age group of above 40 years. Of the total respondents 56, 4 respondents (7.1 percent) are coolies, 38 respondents (67.9 percent) are housewives, 7 respondents (12.5 percent) are agricultural labourers and 7 respondents (12.5 percent) are engaged in other household activities and small trading. Regarding literacy level 20 respondents (35.7 percent) have studied upto SSLC, 12 respondents (21.4 percent) studied up to HSC and 14 respondents (25 percent) are graduates, 6 (10.7 percent) are post graduates and 4 respondents (7.1 percent) have other qualification like ITI, Polytechnic and the like. Regarding monthly income of the total sample 60, 45 respondents (76.8 percent) are in the monthly income group of less than Rs. 2500, 9 respondents (16.1 percent) are in the income group of Rs. 2500 to 3000. Three respondents (5.4 percent) are in the income group of Rs. 3001 to 3500 and only one respondent is in the income of above Rs. 4000. Of the total 60 respondents 49 (83.9 percent) are married, 8 respondents (14.30 percent) are unmarried and one respondent (1.8 percent) is a widow. Of the total sample, 29 respondents (48.2 percent) have family members of 4, 15 respondents (26.8 percent) have family members of 5, 11 respondents (19.6 percent) have family members of 3 and 2 respondents (3.6 percent) have family members of 6 and only one respondent have family members of 2. 53 respondents (91.1 percent) live in their own houses and only 5 respondents live in rented houses.

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From various studies conducted on microfinance it has been observed: 1. SHGs were to facilitate collective decision making by the poor and provide doorstep banking; 2. Banks as wholesalers of credit were to provide the resources and NGOs were to act as agencies to organize the poor, build their capacities and facilitate. The process of empowering them. Of the total SHGs formed more than 1.6 million have been linked with 35,294 bank branches of 560 banks in 563 districts across 30 states of the Indian Union. 3. Microfinance has reduced the incidence of poverty through increase in income, enabled the poor to build assets and thereby reduce their vulnerability. 4. It has empowered women by enhancing their contribution to household income, increasing the value of their assets generally by giving them better control over decisions that affect their lives. 5. In certain areas it has reduced child mortality, improved maternal health and the ability of the poor to combat disease through better nutrition, housing and health especially among women and children. 6. It has contributed to a reduced dependency on informal money lenders and other non-institutional sources. 7. Finally it has given scope to different stakeholders to innovate, learn and replicate. As a result, some NGOs have added micro-insurance products to their portfolios. Problems: In the group functioning and availing the loan a few problems have been expressed. The foremost problem felt by majority of the members has been the triple role of family group and economic activity, which made them difficult to attend fully on all affairs. In certain groups the members expressed that there is non-co-operation among the members that make others in the group to suffer. The group members are mostly from the poor households and lack resource base and as such suffer from expansion of the economic activities chosen. Bank finances have been said to be very small to improve the scale of operations. The strict repayment schedule made some of the members to borrow from informal sources with higher interest rates. This would question the very objective of the SHGs, which need to be addressed. The revolving credit or other loan extended will be shared according to the activities chosen and in the end each member gets only a minimum amount. This has resulted in diverting the loan for other purposes, as it does not suffice to start any economic activity. Still some members felt that there is lack of confidence to start any enterprise, nor approach bank for assistance. This resistance has been mainly due to the inherent cultural influences of considering women as incapable, weak and cannot work like men in businesses. SHGs must bring the women out of these bindings. Conclusion The impact of microfinance is commendable in courage, self-confidence, self worthiness, skill development, awareness about environment, peace in the family, reduction of poverty improving rural savings, managerial ability decision making process and group management. In other variables the impact is moderate. As a result of participation in microfinance through the SHG programmes there is observed a significant improvement of managerial skills, psychological well being and social empowerment. It is recommended that the SHGs may be granted legal status to enhance the performance.

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Reference Asghari Mohiuddin, Sridhar and Seetharaman, et al. (2002), Activities for women under cluster approach and their capacity building: AGSY A study in five states, National Institute of Rural Development, Rajendranagar, Hyderabad. Brahim Prakash, (2001), Performance of Primary agricultural co-operative Credit Societies in India, Indian Journal of Agriculture Economic, Vol.56, No.3, July-September, Pp.487. Navadkar D.S, K.S. Birari and D.V.Kasar, (2001), Self-Help Group-Bank Linkage for Micro Credit Funding to Rural People, Indian Journal of Agriculture Economic, Vol.56, No.3, July-September, Pp.464. Nedumaran S, K.Palanisami and L.P.Swaminathan, (2001), Performance and Impact of Self-Help Groups in Tamil Nadu, Indian Journal of Agriculture Economic, Vol.56, No.3, July-September, Pp.471.

AN ANALYSIS OF FINANCIAL INCLUSION INDEX

N.CHITHRA, M.Phil Scholar, Department of Commerce & Financial Studies, Bharathidasan University, Tiruchirappalli. DR.M.SELVAM, Associate Professor & Head, Department of Commerce & Financial Studies, Bharathidasan University, Tiruchirappalli. Abstract: India is one of the fast growing economies in the world. More than 150 million poor people have access to collateral free loans. In India, half of the poor people are financially excluded from the countrys main stream of the Banking sector. Still in India 22 percent of the people are living below the poverty line. There are many factors affecting access to financial services by weaker sections of society in India. Several steps have been taken by the RBI and Government to bring the financially excluded people to fold the formal banking services. The main objective of the paper is to analyze the relationship between Financial Inclusion and Development with the help of Index of Financial Inclusion (IFI) which was developed by Sarma 2008. This paper is also attempt to construct a Financial Inclusion Index across states in India. Keywords: Index of Financial Inclusion (IFI), Human Development Index (HDI). Introduction Financial inclusion is the availability of banking services at an affordable cost to disadvantaged and low-income groups. In India the basic concept of financial inclusion is having a saving or current account with any bank. In reality it includes loans, insurance services and much more. The first-ever Index of Financial Inclusion to find out the extent of reach of banking services among 100 countries, India has been ranked 50. Only 34% of Indian individuals have access to or receive banking services. In order to increase this number the Reserve Bank of India had and Government of India take innovative steps. One of the reasons for opening new branches of Regional Rural Banks was to make sure that the banking service is accessible to the poor. With the directive from RBI, our banks are now offering No Frill Accounts to low income groups. These accounts either have a low minimum or nil balance with some restriction in transactions. The individual bank has the 179

authority to decide whether the account should have zero or minimum balance. With the combined effort of financial institutions, six million new No Frill accounts were opened in the period between March 2006-2007. Banks are now considering FI as a business opportunity in an overall environment that facilitates growth. Review of Literature (Sarma, 2008) To measure of Financial Inclusion, a multidimensional index of Financial Inclusion (IFI) has been proposed. The IFI is an index that captures information on various dimensions of financial inclusion in one single digit lying between 0 and 1. It captures the penetration of the banking system, its availability to users and its actual usage. (Chakravarthy and Pal, 2010) employ the axiomatic approach for the Measurement of Financial Inclusion, It Improves upon the IFI proposed by sarma (2008) such that the index can be utilized to determine the percentage contributions by the various factors. (Kendall et.al 2010) A Cross Country analysis of Financial Inclusion, in developed countries, they estimate 3.2 accounts per adult and 81 % of adults banked. By contrast, in developing countries, they estimate only 0.9 accounts per adults and 28 % banked. In regression analysis, they find that measures of development and physical infrastructure are positively associated with the indicators of deposit account loan and branch penetration. (Kumar, 2011), carried out A State -wise dynamic panel data analysis of determinants of Financial Inclusion in the context of India. The results disclose income to be having an unambiguously beneficial impact on the financial inclusion indicators. The findings reveal the importance of the regions Socio economic and environmental setup in shaping the banking habit among the masses. Objectives of the Study To construct a financial inclusion index and to analyze the relationship between Financial Inclusion and Development with the help of Index of Financial Inclusion (IFI) Meaning of Financial Inclusion Financial inclusion defines it as: "Financial inclusion may be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost." Rangarajan Committee (Report of the Committee on Financial Inclusion in India (2008)). Financial inclusion is a strong and promising project undertaken by the Government of India which aims to include rural areas within the banking network providing access and availability of banking services to the entire population General equation of financial inclusion is as follows (2Kempson, E.(2006)) : NFA + BC = FI Where, NFA = No Frills Saving Bank Account BC = Banks + OFIs + MFI + IT BC = Banks + Other Financial Institutions + Micro Finance Institutions + IT OFI = Insurance Companies, Mutual Funds, Pension Companies. Status of Financial Inclusion in India The status of financial inclusion in India has been assessed by various committees in terms of her peoples access to avail banking and insurance services. Only 34% of the Indias population has access to banking services. The Eleventh Five Year Plan (2007-12) envisions 180

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.1 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 economy. 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 programme in the early 1990s and Kisan Credit Cards (KCCs) for providing credit to farmers. 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. 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 Technology Fund (FITF) The 100 per cent 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 per cent financial inclusion. So, far, the SLBC has identified 431 districts for 100 per cent financial inclusion. As on 31st March 2009, 204 districts in 18 States and 5 Union Territories have reported having achieved the target (Sujatha.B (2008)). Financial Inclusion in India (Statistical Review) The nature of financial inclusion in India or other developing countries is different from developed countries. The number of financially excluded people is much larger in India compared to developed countries. In India, though the concept of financial inclusion is an old phenomenon, recently it is coming into prominence.According to the study done by Elaine Kempson and Clarie Whyley (1999), around one and half million households in Britain are deprived of most basic financial services, like bank accounts and insurance coverage. In India, the number of people deprived of basic financial amenities is estimated at around 40 % of total population. Several steps have been taken by RBI include more and more under the umbrella of basic financial services. The representation of branch banking has reduced over the years. In 2003, 47 % of the total branches were in rural areas, which came down to mere 36 % in 2011, but the Number of branch office is increased in the year 2011. In 2003, 22 % in semi-urban areas, 12 % urban 181

areas and 14 % in Metropolitan, which has been increased to 25 %, 21 %, 19 % respectively. From this table shows that have to be concentrated more in expanding their branch office in rural areas. Methodology of the Study As an inclusive financial system should be judged from several dimensions, we follow a multidimensional approach while constructing our index of financial inclusion (IFI). With a view to compare the status and progress of financial inclusion across the states/ districts, an attempt has been made in this section to construct a Financial Inclusion Index (FII) that can capture all dimensions of financial inclusion including access and use of financial services. The methodology for the proposed FII is similar to the one adopted by UNDP for constructing the Human Development Index (HDI) (Nathan, H.S.K., S.Mishra and B.S. Reddy, 1998).Firstly, a dimension index of the indicators used to capture financial inclusion is constructed. The form of the dimension index (Z) is suggested by Sarma (2008) are given as: Dimension Index (Zi) = Ai mi Mi - mi Where Zi = Dimension Index Ai = Actual Value of ith dimension, mi = minimum value of ith dimension, and Mi = maximum value of ith dimension The Financial Inclusion Index (FII) is the weighted average of the dimension indexes, where the weights assigned are equal. If we consider all the dimensions (which have been incorporated) to be equally important, then the FII reduces to an equally weighted index. n Financial Inclusion Index(FII) = 1/n Zi i=1 Where: Zi = Dimension Index n = number of dimensions The indicators selected for computing FII seek to cover various dimensions of financial inclusion are presented in Table 2. Table 2: Dimensions of Financial Inclusion Dimensions Indicator of Number of Offices in SCB Coverage Number of Deposit Accounts Access and Availability Amount of Deposit Input of the Banking System Amount of Credit Use/Output of the Banking System The four dimensions have been converted (i.e. normalized) into ratios: Per office number of accounts Per office deposit accounts Per office deposit amount Per office credit amount The banking Statistical Returns (BSR) Statement, published by RBI which provides population based breakup in terms of rural, semi-urban, urban and metropolitan branch wise classification of various parameters was the basis for the analysis. The (lowest) unit 182

level for which data is available is the district. The index has been calculated at the district level. Aggregating the district level index gives us the state figure. The analysis was confined to Scheduled Commercial Banks and does not include co-operatives (which can be considered as a limitation of this analysis). The proposed Index theoretically takes values between Zero(0) and one(1).The value 0 can be interpreted as indicating no financial inclusion and the value 1 indicating complete financial inclusion. For analytical purpose we have divided the range between the values 0 to 1 into four grades depicting different grades of financial inclusion (Table 3). The proposed FII can be used for ranking districts and adding the district wise FII values also provide the state FII values. Table 3. Grades of Financial Inclusion Financial Inclusion Index (Value) Financial Inclusion Grade 0 to 0.2 Very low 0.2 to 0.4 Low 0.4 to 0.6 Medium 0.6 to 1 High Source from: NABARD 2010, Working Paper State wise Financial Inclusion Index Ranking of state wise estimated FII for different periods of time revealed the growth and progress of financial inclusion in different states (Table 4). Table 4: State-wise Financial Inclusion Index- Values Rank FII Value State 2011 2006 2011 2006 Uttar Pradesh 1 2 0.390 0.339 Maharashtra 2 3 0.376 0.319 Punjab 3 1 0.360 0.348 Himachal Pradesh 4 6 0.348 0.261 Kerala 5 4 0.322 0.276 Jammu Kashmir 6 5 0.313 0.266 Uttaranchal 7 8 0.261 0.236 Tamil Nadu 8 7 0.256 0.243 Andhra Pradesh 9 10 0.254 0.214 West Bengal 10 9 0.217 0.216 Gujarat 11 12 0.207 0.195 Haryana 12 13 0.204 0.194 Karnataka 13 14 0.182 0.172 Jharkhand 14 11 0.175 0.203 Assam 15 15 0.162 0.161 Orissa 16 16 0.141 0.152 Chhattisgarh 17 17 19 20 18 0.143 0.138 0.136 0.133 0.149 0.142 0.140 0.148 Madhya Pradesh 18 Bihar 19 Rajasthan 20 Source: RBI, BSR 2006 & 2011.

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The Computed values for the year 2006 and 2011 are presented in the Table 4, respectively. It is shown that there is wide variation in terms of financial inclusion across states in India. The range of the index increased from 0.348 in 2006 to 0.367 in 2011.Comparing the computed financial index for 2006 and 2011; we find that the levels of financial inclusion in India have increased during 2006 - 2011. Uttar Pradesh and Maharashtra have consistently maintained their first and second ranks, respectively. The relative positions of most of the states, that is, the ranks of states, have changed over time. Gujarat, Haryana, Karnataka, Jharkhand, Assam, Orissa, Chhattisgarh, Bihar, Madhya Pradesh have to improve their levels of financial inclusion in India. A notable feature is that in all states, except Uttar Pradesh, the contribution of bank branches to overall achievement is not up to the levels and has to be improved. Conclusion: In this paper, we have proposed a Financial Inclusion Index (IFI) a multidimensional measure developed in line with well development indexes such as HDI, HPI, GDI and IFI can be used to measure the progress of the financial inclusion index across states in India. IFI calculations based on the latest available data are presented. The results shows that a large number of Regions/States, including several industrial regions have low levels of financial inclusion. References 1. 2. 3. 4. 5. 6. 7. Mandira Sarma (2008), Index of Financial Inclusion, working paper series in Indian Council for Research on International Economic Relations. Rangarajan Committee, 2008, Report of the Committee on Financial Inclusion, Committee report. Nirupam Mahorata et.al (2010), Financial Inclusion: an Overview, Occasional Paper in NABARD. Basic Statistical returns in Scheduled Commercial Banks in India, Published by Reserve bank of India. Kempson, E.(2006):Policy Level Response to Financial Exclusion in Developed Economies: Lessons for Developing Countries, World Bank, Washington. Sujatha.B (2008), Financial Inclusion in India, Journal of Banking & Finance. Nathan, H.S.K., S.Mishra and B.S. Reddy, (1998). An Alternative Approach to Measure HDI, IGIDR Working paper.

IMITATION, INCREMENTAL INNOVATION AND CLIMB DOWN: A STRATEGY FOR SURVIVAL AND GROWTH OF NEW VENTURES
DR.T.SARATHY, Assistant Professor, PRIMS, Periyar University, Salem 11, MR.C.SILAMBARASAN, Ph.D Research Scholar, PRIMS, Periyar University, Salem 11, Abstract Productivity, profit and growth of enterprise have been closely linked to its ability to innovate successfully. Imitation is seen as an inferior and 'non-entrepreneurial' act. The accelerating technical change, however, has made innovation increasingly difficult for small and nascent business. For the large corporation raised costs and complexities of technical change make innovation an effective instrument to keep out small enterprise with 184

competitive pretensions. Notwithstanding the high profile success of a few start-ups' direct innovative confrontations with mature business, an average entrepreneur has virtually no chance in this battle of unequal. The very spirit of entrepreneurship embodied in ever sprouting small and nascent enterprise is endangered by this trend. We believe, an entry facilitated by imitation and subsequent consolidation through incremental innovation targeted at the lower part of the value chain, left untouched by most large corporations, offer better chance of survival and growth to new ventures. Key words: Productivity, profit, growth, Schumpeterian competition. INTRODUCTION: Innovation, by its very nature, disrupts the equilibrium of a competitive market and causes uncertainty. To confront it, the enterprise must innovate further. This, in turn, may lead to innovations that are even more disrupting. This innovation-uncertainty-innovation sequence, central to technical progress and responsible for keeping large corporations vibrant, however, creates peculiar difficulties for the new firm. As the world body of knowledge expands, R&D budgets burgeon and technical change expedites, innovation becomes even more focused and competitive. Markets take unanticipated paths hammered by the onslaught of innovators. New products spring up and disappear before people have a chance to look at them and the inventors have time to exploit the gains of their creation. The scale of creative destruction wrought by entrepreneurs trying to break into rival markets using innovative edge of their products and processes has been, of late, growing increasingly discomforting. No wonder, the closure rates are mounting and the pillaging advance of knowledge revolution continues to leave behind entrepreneurial mass graves. It seems the new enterprise in the next century is going to awaken to an awesome competitive reality that is both overwhelming and scary. Entrepreneurs everywhere are now facing the classic Schumpeterian competition, the one that strikes not at the margin of profits and output, but at their very lives. Though, the technical innovations of last some decades have opened up a whole new gamut of opportunities for start-ups, they have also, at the same time, sharpened the edge of competition and have increased its ability to mop down the relatively inefficient. As efficiency standards climb up, survival is becoming increasingly difficult for new enterprise for which management and exploitation of change of this magnitude and complexity is nearly impossible. Under such intense uncertainty, there seems no guarantee of payoffs from any program to improve technology (Metcalfe, 1997). THE STRATEGY: The strategy outlined below is essentially opportunistic. The goal is to ensure survival. The idea is to dodge the competitive innovation, deliberately lag behind, sharpen skills, accumulate resources, and pull ahead at the opportune moment. 1 Pre-Start-Up: Search of Opportunities A candidate entrepreneur must be familiar with the market to enter. Get acquainted with the technology, the product-line, the market and the distribution channels. Watch the pace and direction of change. An insider can observe it better working from where the R&D is visible. Many flourishing start-ups are the businesses floated by former employees that have left their organisation and now compete with them (Freeman, 1974). Previous experience of working in an industry is a powerful predictor of entrepreneurial success (Cooper and Bruno, 1977 and Cooper and Dunkleburg, 1986). Ability to effectively scan the environment for opportunities and risks is entrepreneurs core competence (Ray and Kaderlan, 1997). 185

Spotting opportunities is the spark that ignites the entrepreneurial process (Timmons, 1994). It is the pre-start-up experience that allows the entrepreneur to spot the opportunities and develop the skills and confidence to start the business. Many business opportunities are identified whilst working, particularly, with a larger employer (Hall, 1997). The lack of adequate exposure that drags down an incipient business in competition with its mature counterparts is thus neutralised to some extent. During this phase, you come to know what the state of art is and how and whereto it is changing. Without participating in the associated risks, you observe the innovative effort and contribute to it. 2 Imitative Entry with Low R&D For a small business, imitation rather than innovation provides better chance of survival in competition with the mature firm. Though the profit margin on original innovation is much higher than on imitation, this must be balanced against the high risk and heavy losses associated with unsuccessful original innovation. There is as much evidence in support of imitation facilitated entry as much that of innovative intrusion. Each firm, which wishes to start in the business must be capable, it least, of imitating those made by its more advanced competitors within a short time. Firms, which have an outstanding record in technical innovation, were usually among the first 'imitators' or 'adopters' of innovation made by others (Freeman, 1974). Significant proportion of innovation developed by the firms in industrial countries involves large elements of imitation of technology already developed in other countries (De Melto et. al. 1980; Smith and Vidvei, 1992 and Deiaco 1992). The fact that a large amount of R&D in developed countries is also imitative reinforces the above (Levin et. al. 1987 and Cohen and Levinthal, 1989). The innovator faces all sorts of teething troubles -new problems associated with the new technique- which are likely to be solved, partly and gradually, by the time others adopt it. It is therefore not necessarily desirable to be the first to introduce a new technique. Imitation, moreover, does not inevitably mean a wholly unprofitable existence. Substantial benefits can be derived from the activities undertaken by followers and imitators (Westney, 1987; Enos and Park, 1988; Bolton, 1993; Cheah and Yu, 1996 and Vyas and Parayitam, 1997). In fact, in some situations the imitator ends up making more money than the innovator due to difficulties faced by the first firm in using a new technology (Rosenberg, 1982). As Marx, (1959) puts it the trailblazers generally go bankrupt and only those who later buy the plant and buildings make money out of it. Success is achieved by the application of some-one else's idea or even their patents. It is not the initial entry into the market that matters but rather ability to provide the service at a low cost (Rothschild, 1982). The innovator bears the cost of eliminating the more grossly inefficient innovations and leaves behind a trail of relics of the innovations that did not work but consumed resources in the process of being proved impractical. The imitator is spared this waste of resources. The much fancied Filipino entrepreneur Tony Tan, who is giving the international food giant McDonalds a run for its money in his country by successfully imitating and adapting its product line, admits frankly, From the beginning we were willing to copy" (Khan, 1999). In fact, willingness to imitate all that is useful and productive has been attributed to both the earlier economic success of the European and that of the Japanese subsequently. As Rosenberg (1982) argues, historically, European receptivity to new technologies and their capacity to assimilate them whatever their origin has been as important as inventiveness

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itself. It is conspicuous feature of their history that engaged Europeans in aggressive borrowing of inventions and techniques that has originated in other cultures. An enterprise based on imitation of a winning product could still fail if the entrepreneur lacks the ability to manage it. However, such an entrepreneur would have failed to manage an innovation even more comprehensively. Imitation-based business is a dry run to one that would be eventually driven by innovation. The sheer weight of creating and launching a hitherto untested product, managing and debugging a technology never used before, refining and moulding the product to suit the clientele and managing output as well as market generally prove too much for most nascent entrepreneurs. Many fail because of utter diversity of roles to be played and the extreme levels of requisite efficiency imposed by competition. Imitation lifts half the burden, smoothens the entry and improves survivability. Imitation, however, without understanding the market, industry, and cultural context may be a futile exercise. Despite a good understanding of the reasons for Japanese superiority in productivity and quality in the automobile industry aided by several excellent studies and despite the possession of similar underlying knowledge, Western competitors nevertheless found it extremely difficult to close the gap (Womack et al., 1990; Clark and Fujimoto, 1991). The problem stems not for the lack of knowledge but from the difficulty of implementing intra-and-inter firm organisational innovations such as just-in-time and subcontracting. What to imitate is, though, the basic issue. Even in the same area of application, there are alternate technologies. Relatively clear-cut cases such as Diesel traction replacing Stream traction are exceptional. To rephrase Ruttan and Hayami's (1971) conclusions from their work on agriculture in more general terms one can say that the ability of an enterprise to achieve rapid growth in productivity and output seem to hinge on its ability to make efficient choice among alternative technologies from which to choose and imitate. 3 Enhanced R&D and Incremental Innovation Imitative entry is not to be confused with stagnant and perpetual non-creative existence. A large number of small firms do not have any R&D; do not aspire to pull ahead or even to keep pace with the pack. They are contented to follow way behind. Despite many years of production and of using locally produced capital goods; technical change was totally absent in steel-finishing industry in Thailand during the 1960s and early 1970s (Bell et. al., 1984). Many large firms in Africa were unable even to achieve minimum standards of efficiency (Mytelka, 1992 and Wangwe 1992). 88% of manufacturing establishment in Hong Kong did not undertake R&D and 79% were not planning to do so in future (Cheah and Yu, 1996). This is obviously a wrong way to go. A comparison of adaptation, improvement and future development of technology by Latin American and Indian firms on one hand and Korean firms on the other shows that lack of technical dynamism leads to stagnant existence whereas its presence means rapid growth (Bell and Pavitt, 1997). Not long after the imitative entry, therefore, the entrepreneur should raise R&D investment and begin to think creatively. While the big budget corporate R&D has come to dominate the major revolutionary leaps into technology, it is important not to overlook the steady growth of productivity brought about by the relatively minor improvements in existing processes achieved at modest costs. Technical progress is a smooth and continuous process of improving the old ways by small changes. These evolutionary improvements can sometime make an old technique competitive with a new, to the point even of delaying 187

displacement by the new (Meyer and Herregat, 1974). Remarkable success of Hong Kong entrepreneurs is attributed to incremental rather than radical change, technological followership rather than leadership and cost reduction rather than product differentiation (Cheah and Yu, 1996). The enterprises created through technological imitation must, thereafter, engage in intensive efforts to accumulate internally the technological capabilities that are needed subsequently for improving what was acquired initially, for generating elements of technology to be combined with imitated elements in alternate projects or for building a more independent position in the long-run development of the technology. This was the pattern followed by the US Du Pont Corporation when it entered the Rayon industry in the 1920s on the basis of imported technology (Hollander, 1965). R&D effort so far focused on understanding the imitated process should, therefore, now change locus to critically look at it. The search is now for guided and intentional variation, undertaken to gain competitive advantage. Diffusion involves more than the acquisition of machinery or product designs and the assimilation related operating knowledge. It also entails continuing incremental technical change by which the original innovations are moulded to fit particular conditions of use in a widening range of situations to attain higher performance standards beyond those originally achieved (Rosenberg, 1982 and Metcalfe, 1988). Significance of incremental technological dynamism in Steel industry in Brazil and Petrochemical industry in Korea is well documented (Dahlman and Fonseca, 1987 and Enos and Park, 1988). Many of these improvements in products and services come from interaction with the market and with related firms, such as subcontractors and suppliers of material and services (von Hippel, 1988; Lundvall, 1988, 1993). When information is received about a new technique, the enterprise has to have the resources to analyse and survey its potentialities. The ability to analyse technical information depends crucially on the existence of research and development activity in the company (Hakanson, 1974). In the post-war period the high level of expenditure by Japanese firms on imported technology was more than matched by their complementary expenditure on engineering and R&D to ensure the dynamic assimilation of what had been imported (Tanaka, 1992). Early industrialisation experience of Japan for the development of the chemical industry, the early development of the automobile, electrical and the railway rolling stock industries and the experience of European countries in the development of the North Sea oil industry all point to the above pattern. In the early years, the projects draw directly and almost totally on borrowed technology but that is followed by a rapid transition to more indirect patterns in which borrowed and internally developed elements were combined (Bell and Pavitt 1997). The empirical evidence about industrial R&D and innovation, in Japan, United states and Europe, makes it increasingly evident that the success of innovations, their rate of diffusion and the associated productivity gains depend on the wide variety of other influences particularly on incremental innovations (Hollander, 1965) and the reverse engineering is a major channel for accumulation of product design and development capacity once local firms master the production and component technologies (Bell and Pavitt, 1997). Existence of well-endowed and competent R&D alongside manufacturing increases the efficiency of learning by doing (Arrow, 1962). The significant of this process has been 188

documented in several industries including airframe production, shipbuilding, machine tools and textiles (Rosenberg, 1982). In the 1950s and 1960s, the Japanese success was first attributed to copying, imitating and importing foreign technology. As Japanese products and processes began to outperform more and more American and European products, it became evident that that explanation was no more adequate. The Japanese performance could now be explained more in terms of R&D intensity. Bell and Pavitt (1997) argue that firms must accumulate the deeper forms of knowledge, skill and experience required to generate continuing paths of incremental change, which both improve on the original performance standards of the technology in use and modify its inputs, outputs and processes in response to changing inputs and product markets. They may also strengthen their capabilities for seeking out and acquiring the technology from other firms and economies. And they may then build on these capabilities to introduce more substantial changes; for example incorporating significant improvements into processes already used or into process technology acquired from elsewhere for new projects, modifying the existing types of products, producing substitutes from those already produced, diversifying into the production of inputs materials or equipment, or creating improved process or material technology for use by supplier industries. This phase may then blur into a fourth, in which firms produce the kinds of technical change, which are usually thought of an innovator. 4 Product-market Synchronisation The Key to growth now is in developing a thorough and continuously updated understanding of markets where the products with some adaptation or modification can be traded. The ability to visualise commercial applications and match them with customers' needs and effective distribution channels is the heart of strategic marketing in a new venture. The quality of strategic marketing determines whether the new venture delivers marginal value to a few customers or substantial value to many (Ray and Kaderlan, 1997). The inability of large corporation to understand other ways that the customers can be satisfied and the fact that their changing need and wants make yesterday's superstars tomorrow's also runs has proved to be a major flaw in their strategies and management. When an industry is matured the attitude that the customers will buy what we give them and not what they want begins to grow. A new enterprise with unknown products or service by spending sufficient time trying to understand and satisfy customers can win by demonstrating uniqueness, additional value and lower costs against the existing offering (Rothschild, 1984). Jollibee, the Filipino food chain, for instance, offers a mixture of Western and localised fast food in a format that closely resembles its competitor, McDonald's. The Champ burger competes with the Big Mac and the peach mango pie is packaged like its apple rival. A hamburger-headed "Champ" character, stripped orange and yellow bee lures the kids away from the stripy-socked red-haired Roland. In Philippines Jollibee is ahead of its rival McDonald's and Wendy's mainly because of product-line that is more suited to Filipino taste (Khan, 1999). Kellogg in India found that introducing breakfast cereals was a slow process because it meant creating new habits. Once the company had persuaded Indians to eat cereals at great cost, local companies were able to ride on Kelloggs coattails by introducing cheaper breakfast cereals with local flavours (Prahalad and Lieberthal, 1998). Kellogg has discovered now that it paid a high price for too small a market.

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5 The Climb Down Significant gains can be achieved by the new enterprise by downgrading the product towards the lower end of value chain. Dropping some of its costly attributes and targeting it to the segments of market where the buyers may not value many of its frills could do this. Existing aggressively innovative large corporations with massive R&D allocations leave this route open. Gillette, in face of cheaper disposable razor, responds not by cost cutting but by innovating vigorously and by raising the price (Economist, 1998). Watson used similar strategy at IBM in its formative years (Freeman, 1974). The large corporations invariably target the top of the value chain to quickly recoup their R&D expenses. This weakness is built into their high development budgets. They cannot aim the lower segments by default. Incremental innovation lower down the quality ladder is easier and less competitive. Western companies failed to commercialise adequately the fruits of significant basic research towards the lower part of value chain, a flaw aggressively exploited by the Japanese, (Fransman, 1997). It is conceptually easier to de-frill a product than to make it more utility-laden. You, though facing lower margins, are also looking at bigger volumes. Given the pyramidal nature of income distribution and the fact that the newly opened economies of countries like India, China and Brazil have colossal numbers in lower income segments, massive quantities of devalued goods could be absorbed by them (Prahalad and Lieberthal, 1998). The big MNCs are handicapped in these waters as very little of their pricey output could be absorbed by a minuscule affluent class in emerging markets. During this phase, a new set of entrepreneurial calibre is on test. Knowledge of market plays a bigger part in this secondary type of innovation than contact with scientific research or direct experience of operating the process. It tests your ability to follow a lead and mould an existing technology to suit a new market variation once the direction has been confirmed, the abilities that are needed for becoming a mature innovator. Augmentation and consolidation of this phase could be achieved by successively duplicating these efforts in more cases. When you are making these choices try to spread to areas well known to you and forgo uncharted routes. Knowledge and skill are highly specific to particular categories of industrial products and processes. A firm making cheap textiles would find it virtually impossible to diversify into making personal computers (Bell and Pavitt, 1997). CONCLUSIONS: Entrepreneurship is strong associated with innovation in popular perception. New business formation and its subsequent growth are believed to be heavily dependent on innovation. What apparently provide support to this notion are the high profile cases of people with exceptional technical brilliance and business savvy who could challenge the established business through projects emanating from makeshift labs on strength of sheer genius. The average entrepreneur does not fit to this description and cannot replicate this performance. The accelerating and increasing expensive technical change of this century suits the resource endowment of big business eminently but excludes ordinary entrepreneurs almost entirely. The large corporations are using the complexity, uncertainty and high cost of todays science to their advantage to keep out the small business. Useful conclusions, however, can be drawn from the study of the scarce few that did succeed in this battle of the unequal. Considerable leads also are available from the study of methods and tactics used by the countries with similar handicaps in catching up with their 190

more advanced counterparts. On the level of strategy there is a lot in common between Jollibee and Japan. How they overcome an overwhelming initial disadvantage and were able to match the superiority of their rivals, McDonalds and the US respectively is to be understood. The essence of that strategy is outlined here. Imitate the technology that has proved itself, sell the product that is a winner and accumulate the experience of administrating a success. Learn to understand and handle the economic, financial and legal complexities of business when you do not have to bother about technical change and marketability. Then slowly change gear, invest in R&D and bring under scrutiny both your buyer and technology to see how and whereto they are changing. Concentrate on one fundamental issue. What way the technology at you command can be marginally moulded to create a slightly different variant of the product to cater to a newly emerging or hitherto unfulfilled need. Once you can do that, you have broken away from the umpteen peers who spend a lifetime in imitation. This incremental change should be the mainstay of your strategy until you have the resources, skill and experience to break entirely new grounds. REFERENCES: 1. Bell M., Ross-Larsen B. and Westphal L., (1984). Assessing the Performance of Infant Industries, Journal of Development Economics 16:101-28. 2. Archibugi, Daniele and Michie, Jonathan (1997). Globalisation of Technology: A New Taxonomy. In Archibugi, Daniele and Michie, Jonathan (Eds.), Technology, Globalisation and Economic Performance. Cambridge University Press. 3. Arrow, K. (1962). The Economic Implications of Learning by Doing, Review of Economic Studies, June. 4. Bell, Martin and Pavitt, Keith, (1997). Technological Accumulation and Industrial Growth: Contrast between Developed and Developing Countries. In Archibugi, Daniele and Michie, Jonathan (Eds.), Technology, Globalisation and Economic Performance. Cambridge University Press. Bolton M. K. (1993). Imitation versus Innovation: Lessons to be learnt from the Japanese. Organisational Dynamics, Winter. Caudron S. (1994). Motivating Creative Employees Calls for New strategies. Personnel Journal, May. Cheah H. B. and Yu T. (1996). Adaptive Response Entrepreneurship and Competitiveness in the Economic Development of Hong Kong. Journal of Enterprising Culture, 4(3). Fry, A. (1987). The Post-It Notes: An Intrapreneurial Success. Sam Advanced Management Journal, Summer Grabowski, H. G. and Mueller, D. C. (1978). Industrial Research and Development, Intangible Capital Stocks and Firm Profit Rates. Bell Journal of Economics, 9 Hakanson S. (1974). Special Presses in Paper Making. Chapter 4. In Nabseth, L. and Ray, G. F (Eds.). The Diffusion of New Industrial Processes: An International Study. Cambridge University Press Hall D. A. (1997). Systematic Approach to Understanding and Supporting Entrepreneurs Designed and Developed by Entrepreneurs. Proceedings. The Eighth Annual ENDEC World Conference on Entrepreneurship, Los Angeles. Hollander S. (1965). The Sources of Increased Efficiency: A Study of DuPont Rayon Plants, Cambridge, Mass., MIT Press. Holmstrom B. (1989). Agency Costs and Innovation. Journal of Economic Behaviour and Organisation.

5. 6. 7.

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14. Khan G. M. (1999). International Entrepreneurs from the Philippines: A case Study. In Leo Paul Dana (Ed.), International Entrepreneurship: An Anthology. 15. Levin, R., Klevorick, A., Nelson, R. and Winter, S. (1987). Appropriating the Returns from Industrial Research and Development. Brookings Papers on Economic Activity, 3.

IMPROVING RURAL FINANCIAL ACCESS FOR THE INCLUSIVE GROWTH OF THE COUNTRY; AN EMPIRICAL STUDY OF FINANCIAL ACCESS OF KOZHIKODE DISTRICT OF KERALA
SHAMEEM P K Research Scholar, Mahatma Gandhi University Kottayam Abstract For the inclusive and sustainable growth of the country, improved rural financial access is prerequisite. Access to finance is essential for employment, economic growth, poverty alleviation and social upliftment of the rural people. In India more than 70 percent of households live in rural areas. So the existence of rural financial institutions assumes a significant importance. Thus the policy makers recognised the fact that the potential of rural India should not under estimated. Rural financial institutions have to play dual role in rural areas to institutionalize the rural savings for developmental activities. Then the help in the social upliftment of the poor as a part of social banking. Here the researcher conducted dual mode study, i.e. from institutional side and the respondents side. This empirical study based on 150 samples from the different areas of the district. It is aimed to find out the current financial behaviour of rural people, financial access rate, problems of access to finance and finally suggestions to improve financial access. Introduction Rural finance is the provision of financial services to a heterogeneous, rural, farm and nonfarm population at all income levels through a variety of formal , informal and semi-formal institutional arrangements and diverse types of product and services such as loans, deposits, insurance and remittances. Rural finance encompasses the range of financial services offered and used in rural areas by people of all income levels. It includes agricultural finance, which is dedicated to financing agricultural related activities such as input supply, production, distribution, wholesale, processing and marketing, and microfinance which provides financial services for poor and low income people by offering smaller loans and savings services, while accepting a wider variety of assets as collateral. The following diagram illustrates the overlapping relationships between these different terms. Fig.1 Relationship between rural finance, agricultural finance and micro finance Rural financial access is the usage rate financial services by the rural households. It is concerned with frequency with which 192

of

the rural people are using the financial services. Expansion of rural financial access helps the developing countries like India to create a win-win scenario that will promote growth while also help in reducing poverty. Given the high proportion of poor populations that live in rural areas, the growing income inequality between urban and rural markets, and concerns for food security and population vulnerability in rural communities, many development agencies are returning their attention to rural financial deepening as part of a strategy to stimulate rural private sector development. In order to improve rural financial access, both the problems of rural financial institutions and rural households has to be resolved. This study ultimately trying to suggest many solutions for the said problems on the basis of empirical data collection. Objectives of the study To understand the financial access of rural people in Kozhikode district in terms of accessibility to bank account, access to credit, access to modern banking services, accessibility to insurance services and access to other financial services. To analyse the financial accessibility of rural people among the different categories of occupation, source of income, level of income and distance to financial institution. To study the accessibility of financial services of rural people to formal and informal sources. To study how the rural people receive the remittances and make payments To develop solutions on the basis of the findings of the study. Hypothesis of the study The following research hypothesis has been framed on the basis of the objectives of the study There is no significant relation between financial access and employment status. There is no significant relation between financial access and level of income. There is no significant relation between financial access and level of education. There is no significant relation between financial access and source of income. There is no significant relation between financial access and distance to the bank. There is no significant relation between family income and formal/ informal access to loan. Methodology of the study The proposed study is both descriptive and empirical in nature. Both primary and secondary data have been used for the study. The present study mainly based on the financial access, financial behaviour and financial literacy of rural people. Primary data have been collected from the sample of rural people and financial institutions from Kozhikode district of Kerala. A structured questionnaire has been developed for the purpose of collecting primary data from rural people. For developing questionnaire, a pilot study has been conducted among 20 rural people. On the basis of the pilot study, the questionnaire has been redrafted and finalized. To collect primary data from financial institutions interview method has been followed. The secondary data have been collected from the books, journals, periodicals, news papers and websites related to the subject.

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Rural finance service providers in India India has a range of financial service providers including formal sector financial institutions at one end of the spectrum, informal providers (mostly money lenders) at the other end, and between these two extremes a number of semi-formal/micro finance providers. FORMAL PROVIDERS Formal rural finance services providers are either owned or regulated by the Government of India. It includes Commercial Banks Rural Co-operative banks Post office system Mutual funds and Insurance companies Commercial Banks Commercial banks, mostly public sector banks (but also some private-sector banks) and regional rural banks (RRBs) together have more than 32,000 rural branches. The following table presents the structure of commercial banks in rural and urban areas. It also shows the proportionate of rural branches over the total branches in India Table 1 - Structure and number of commercial banks in rural areas Rural Total Commercial banks Branches Branches Public Sector Banks State Bank group 5915 17229 Other Nationalised Banks 13652 41569 Total (A) 19567 58798 Private Sector Banks Old Private Sector Banks 861 4952 New Private Sector Banks 340 5075 Total (B) 1201 10027 Total Scheduled Commercial Banks 20768 68825 Regional Rural Banks (RRB's) 11626 15127 TOTAL 32394 83952 Source: RBI Report on Trends and Progress of Banking in India 2010-11

% of Rural Branches 34 33 33 17 7 12 30 77 39

From the above illustrated table, it entails that only 33% of Public Sector Banks functions in majority of rural areas, while in the case of Private Sector Banks, it is only 12%. By adding RRB (which is exclusively set up for the rural areas), it rose to 39% only. Rural Co-operative Banks India is also a vast network of rural co-operative banks with a three tiered structure at the state, district, and village levels.

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Table 2 Structure and number of co-operative banks State Co-operative Banks 31 District Central Co-operative Banks 370 Primary Agricultural Credit Societies 95633 State Co-operative Agriculture and Rural Development 20 Banks Primary Co-operative Agriculture & Rural Development 697 Banks TOTAL 96751 Source: RBI Report on Trends and Progress of Banking in India 2010-11 Presently 96,751 different co-operative banks are functioning in rural areas. They mainly concentrate in agriculture and rural development. Post Office System It leads to the physical service point network of the country with more than 1, 54,000 post office branches handling more than 110 million money orders and administering 114 million saving accounts. Mutual Funds and Insurance Companies They have a moderate reach in rural areas, though this is gradually increasing. Recently the introduction of Government Health Insurance increased the number of insurance subscribers in rural areas. SEMI-FORMAL / MICROFINANCE SECTOR While India is home to many microfinance innovations, in terms of people reached and the scale of financing, microfinance in India is still a drop in the ocean. It reaches between 5 and 6 percent of the countrys poor rural households. Dominant among the microfinance models is Self-Help Group (SHG) Bank linkage, whereby womens SHGs are linked to the rural branches of commercial banks, RRBs or co-operative banks, which often benefit from refinancing by NABARD. Other model is specialized Microfinance Institutions (MFIs), which reach around 1million, clients. INFORMAL PROVIDERS Informal finance provides are very much dominant in rural areas. They includes Land lords Local shopkeepers Traders Professional money lenders etc. The interest charged on informal loans averages 48% p.a. Not surprisingly, informal borrowing is very important for the poorest which are more deprived of formal finance. Informal financiers have the advantage of knowing their client better than most formal institutions such as banks. They are better able to enforce contracts and provide flexible products. Constraints for the financial access of rural people. A combination of factors affecting both financial institutions and their clients contribute to reducing the supply of finance for the poor, driving up costs and hampering access. Why financial institutions are reluctant to lend to rural clients? 195

From the perspective of rural financial institutions, serving the rural poor is a high risk, high cost preposition. From the response of financial institutions, following factors de motivating them for providing credits and other financial services. Uncertainty and default risk Lack of credit information The tyranny of collateral Transaction costs Weak legal framework and enforcement issues Government policy.

Problems faced by the rural people for the financial access From the perspective of rural people, rural banks are unattractive for several reasons. Important of them are Absence of flexible products and services Transaction costs including distance to the bank Collateral High rates of illiteracy

Major results of the study 1. Percentage and tabular analysis. 76% of the respondents have the bank account with any of the formal banking institution. In another sense 24% of rural people have no access to formal banking institutions. Out of the banked respondents saving accounts are mostly demanded (63%) and current accounts are least demanded (2.9%). 70% of respondents are above 5 K.M distance area from home to the bank. 47% of respondents opened the account for the purpose of keeping money safe. Recently rural peoples started new bank account to receive payments from Govt or other institutions (17%). It is mainly for getting the payments of National Rural Employment Guarantee Programme (NREGP). Main reasons for rejection of application for bank account due to incomplete application (63% of respondents). Apart from that 36% of the respondents have no ability to fill different banking documents. Majority of respondents (82%) are receiving their source of income through liquid cash. 83% of respondents are borrowing the money from different sources to finance for the non daily huge expenditure. Informal sources are dominating over formal sources for the borrowing. Only 36% respondents are borrowing from formal sources. That means 64% respondents are borrowing from informal sources. 66% of respondents have any kind of insurance policy. Recently number of health insurance policy increased in rural sector because of the introduction of government sponsored health insurance packages. 43% of respondents have the membership in that policy. 61% of respondents have no access to any kind of pension fund / plan.

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Hypothesis testing There is significant relation between financial access and employment status. There is significant relation between financial access and level of income. Unbanked rate is decreasing as the income level increases. There is significant relation between financial access and level of education. As the level of education increases financial access also increases. There is significant relation between financial access of rural people and sources of income. There is significant relation between financial access and distance to the bank. As the distance to the bank increases the unbanked rate also increases. There is significant relation between family income of rural people and formal / informal access to loan. Conclusion Improving access to finance for rural people, to meet their diverse financial needs (savings, credit, insurance, etc.) through flexible products at competitive prices presents a formidable challenge in a country as vast and varied as India. But the opportunities are plentiful, and government has an important role to play in creating space and a flexible architecture for scale-up. In the case of Kozhikode district majority of the people have the access to saving i.e., 76% of the rural people have the access to any kind of bank account. Recently access to savings rate increased due to the opening of non frill bank account for National Rural Employment Guarantee Programme (NREGP). But in the case of access to credit, majority of rural people in Kozhikode district are approaching to the informal sources i.e., 60% of people are borrowing from informal sources. References Books 1. Sujatha B, financial inclusion: concepts and strategies, Fist edition, Hyderabad : ICFAI publishers,2006 2. Ravichandra Krishnamurthy, Financial Inclusion fourth edition, New Delhi: VDM Velberg publishers,2010 3. Sameer Kochhar, K C Chakrabarty, C Rangarajan, Speeding Financial Inclusion, Academic publisher,2010 Journals and Government publications 1. Info Resources Focus No 2/08 2. Kerala Economic Review 2010 3. Handbook of statistics on Indian economy 2010, RBI publications Websites 4. www.ifad.org 5. www.ruralfinance.org, www.inflibnet.ac.in

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A STUDY ON INDIAN MUTUAL FUND INDUSTRY AND ITS IMPACT IN INDIAN CAPITAL MARKET
Mr. A.D.J. Rajesh, Asst. Professor at M.A.M. B-School, Siruganur, Tiruchirappalli, Tamilnadu, India Mr.S. Cliffford Paul, Director at M.A.M. B-School, Siruganur, Tiruchirappalli, Tamilnadu, India Abstract Indian mutual fund market have grown from 6,700 Crores in 1988 (First Launched by UTI Trust) to 69, 27,887.39 crores (Average AUM) in the year April 2012. In the dynamic world with various benefits and crisis managing any product and service is Hercules task. It was witnessed in many sector, the Indian capital market is not the exception. The objective of the paper is to study Indian Mutual fund industry after 1991 called as post Liberalization period and Its impact on Indian Capital market. The Impact analyzed on the basis of inflow of Mutual Fund Flows into Indian capital market for the period 2009-2012. And a descriptive study on the large cap Mutual fund managed portfolio will be analyzed on the basis of feature like portfolios composition, Average AUM under various large cap mutual fund schemes, and various companies benchmark indies for the period of last three years. The Mutual fund industry is fully regulated by SEBI under the regulations 1993. Key Words: Mutual funds, Indian Capital Market, Managed Portfolios, Benchmark Indies Introduction: Mutual Funds play an important role in the development of the financial system. First, they pool the resources of small investors together, increasing their participation in financial markets, which helps both inclusion and the efficient functioning of markets themselves, as a result of larger volumes. Second, Mutual Funds, being institutional investors, can invest in market analysis generally not available or accessible to individual investors, thereby providing services based on informed decisions to small investors. Mutual funds help the small and medium size investors to participate in today's complex and modern financial scenario. Decisions made on the basis of deeper understanding of risks and returns contribute to financial stability, besides helping to mitigate market risk for this group of investors. Third, transparency in investment strategies and outcomes, though typically mandated by regulators, is relatively easy to deliver on, so that investors can find out exactly where they stand with regard to their investments at any point of time.( http://www.rbi.org.in /scripts/ BS_SpeechesView.aspx?id=584) Indian Mutual Fund Industry witnessed a decline of 23% of total fund mobilized during the year 2011-2012, which stood at Rs. 68, 19, 679 crore as against Rs. 88, 59, 919 crore in previous year (Source: A Newsletter of the Association of Mutual Fund in India JanuaryMarch 2012 Vol. XI Issue IV Table No.5.2). There are 762 new schemes rolled out last year which is high compared to previous year stood at 518 new schemes. The decline in AUM was due to sharp outflows of Rs 432 billion from liquid / money market funds as corporate and banks withdrew their short-term investments to meet their quarter-end requirements, viz. advance taxes and capital adequacy respectively. Banks have also lowered their holdings of short maturity debt funds in line with the Reserve Bank of Indias (RBIs) directive to cap their mutual fund investments at 10 per cent of their net worth. Source: CRISIL Mutual Fund Ranking 2012 According to data released by the RBI, banks investment in mutual funds fell to Rs 249 billion on March 23, 2012 compared to Rs 344 billion on January 13, 2012. The asset under 198

management as on March 31st 2012 stood at Rs. 587,217 crore. For the last quarter alone around 279 new schemes where launched and mobilized fund worth Rs. 56, 729 crore(A Newsletter of the Association of Mutual Fund in India January-March 2012 Vol. XI Issue IV). In the latest CRISIL Mutual Fund Rankings released for the quarter ended March 2012, the time frame for performance analysis of long-term funds has been increased to three years from two. A longer time frame of performance analysis helps in identifying funds that have performed consistently across different market cycles, both in case of equity and debt products. The period of performance analysis has therefore been increased to assess consistent performance over a longer period of time. Source: CRISIL Mutual Fund Ranking 2012 According to daily trade data released by the Securities and Exchange Board of India (SEBI), mutual funds net sold equities worth Rs 56 billion in the January-March quarter compared to net buying of Rs 2.5 billion in the October-December quarter. On the debt front, the net buying was Rs1.31 trillion in the latest quarter compared with net buying of Rs989 billion in the previous quarter. Research Methodology The study carried out is analytical and empirical in nature in which it explores the relationship between the Inflows of Mutual Fund and their impact on Indian Capital Market. Correlation Coefficient used to check the relationship between Total Mobilization and Net inflows from investors. Type of Research Exploratory Research method applied for the study. As an exploratory study is conducted with an objective to gain familiarity with the phenomenon or to achieve new insight into it, this study aims to find the new insights in terms of finding the relationship between Mutual Funds Flow and Indian Stock Indices (NSE). Objective of the Study 1. To study the development in Mutual fund industry in India after 1991 (Post Liberalization) 2. To study the Mutual fund Flows into Indian capital market 3. The characteristics of Indian Mutual fund Industry The developments in Mutual fund industry in India after 1991: Second wave of Indian mutual fund industry after 1991 (post liberalization), in that phase Entry of Public sector funds occupied the major area of contribution. In July 1964, the concept took root in India when Unit Trust of India was set up with the twin objective of mobilizing household savings and investing the funds in the capital market for industrial growth. Household sector accounted for about 80 percent of nations savings and only about one third of such savings was available to the corporate sector, It was felt that UTI could be an effective vehicle for channelizing progressively larger shares of household savings to productive investments in the corporate sector. The process of economic liberalization in the eighties not only brought in dramatic changes in the environment for Indian industries, Corporate sector and the capital market but also led 199

to the emergence of demand for newer financial services such as issue management, corporate counseling, capital restructuring and loan syndication. After two decades of UTI monopoly, recently some other public sector organizations like LIC (1989), GIC (1991 ), SBI (1987), Can Bank (1987), Indian Bank (1990), Bank of India (1990), Punjab National Bank (1990) have been permitted to set up mutual funds. Mr. M.R. Mayya the Executive Director of Bombay Stock Exchange opined recently that the decade of nineties will belong to mutual funds because the ordinary investor does not have the time, experience and patience to take independent investment decisions on his own. (Source: http://www.iif.edu/data/fi /journal/FI101/FI101Art6.PDF) India is the biggest among them with about 8,000 quoted companies in 1995, an increase of over 70 per cent over the last decade (The Economist, July 6, 1996).7 In market capitalization, India ranked seventh in 1995 (The Economist, July 15, 1995).X However, as Indian firms are small (measured by market capitalization), they do not figure in the list of top 30 firms in EMEs (The Economist, August 12, 1995).

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The Study on Mutual fund flows into Indian Capital Market

Trends in Resource Mobilization by Mutual Funds in Indian Capital Market For the Period of April 1993 to March 2012 Gross Mobilization(Purchases) Redemption(Sales) Public Total Fund Private Sector UTI Sector Mobilized 1549 9527 51000 62076 0 2084 2143 9500 13727 0 312 296 5900 6508 0 346 151 4280 4777 0 1974 332 9100 11406 0 7874 1671 13193 22738 23660 43726 3817 13698 61241 42271 75009 5535 12413 92957 83829 147798 12082 4643 164523 157348 248096 23515 7096 278707 310510 534649 31548 23992 590189 543381 736463 56589 46656 839708 837508 914703 110319 73127 1098149 1045370 1599873 196340 142280 1938493 1844508 3780753 346126 337498 4464377 4310575 4292751 710472 423131 5426354 5454650 7698483 881851 1438688 10019022 9935942 6922924 783858 1152733 8859515 8908921 4225040 394459 463346 7003143 6819679 31234407 3570631 4232274 40957610 40318152 Source: Handbook of Statistics on Indian Securities Market 2011 Net Flows (Rs. Crs.) 62076 13727 6508 4777 11406 -922 18970 9128 7175 -31803 46808 2200 52779 93985 153802 -28296 83080 -49406 183464

Year 1993-1994 1994-1995 1995-1996 1996-1997 1997-1998 1998-1999 1999-2000 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 2011-March 2012 Total

Table

Number:1

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Figure Number: 1 Source: Handbook of Statistics on Indian Securities Market 2011 From the above table it inferred that except 1998-99, 2003-04, 2008-09, and 2010-11 the net flows was negative besides all the years the net flow is positive. The highest net flows for the year 2011-2012 which scales to 1, 83,464 crores. The correlation coefficient between the fund mobilized by the mutual fund industry and the redemption for the period 2000-2012 is .999846 which inferred that there is strong relationship between variables. The money mobilized from the public for the mutual fund sector from 1993-1994 to 20112012 is Rs. 3, 90, 37,312 crores. The Impact created by the Mutual funds in the Indian Industry is less compared all the various resource of funds into the capital market. But in the future there are lot of scope and space available for mutual growth. The Correlation coefficient between the net inflow and outflows with the Turnover in NSE is .371852 which inferred that there is no strong relationship between the turnovers with that of mutual net flows for the period 2000-2001 to 2011-2012. Turnover for the period 2000-2012 in NSE (Rs. Cr.) S.No 1 2 3 4 5 6 7 Year 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 Turnover 1263898 508121 621569 1090963 1140968 1516840 1940094.29 Cumulative Amount 1263898 1772019 2393588 3484551 4625519 6142359 8082453.29

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8 9 10 11 12

2007-2008 2008-2009 2009-2010 2010-2011 2011-2012

3519918.57 2749450.13 4129413.55 3565189.86 2803889.21 24850314.61

11602371.86 14351821.99 18481235.54 22046425.4 24850314.61

Table Number:2 Source: www.Nseindia.com Trends in Transaction on Stock Exchanges in Equity Schemes Year Net Flow in Crores 2005 14384 2006 9062 2007 16306 2008 6985 2009 -10512 2010 -19974 2011-Dec 2011 4221 Total 20472 Table Number:3 Source: Complied from Handbook of Statistics on Indian Securities Market 2011 From the table except 2009 and 2010 all the other given years the net flows are positive. The total net flow in the equity scheme alone is only 20,472 crores for the period 2005 to Dec. 2011. The characteristics of Indian Mutual fund Industry Characteristics of Mutual Fund Industry best explained in these below parameters namely: AUM held by the Mutual fund Companies, Number of Asset Management Companies, Total Number of Schemes in Indian Mutual fund Market. There are 49 Mutual fund companies registered there names with SEBI as under A. Bank Sponsored 1. Joint Ventures - Predominantly Indian BOI AXA Investment Managers Private Limited Canara Robeco Asset Management Company Limited SBI Funds Management Private Limited Union KBC Asset Management Company Private Limited

2. Joint Ventures - Predominantly Foreign - Baroda Pioneer Asset Management Company Limited

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3. Others - IDBI Asset Management Ltd. - UTI Asset Management Company Ltd B. Institutions 1. Joint Ventures - Predominantly Indian - LIC NOMURA Mutual Fund Asset Management Company Limited C. Private Sector 1. Indian Axis Asset Management Company Ltd. Deutsche Asset Management (India) Pvt. Ltd. Edelweiss Asset Management Limited Escorts Asset Management Limited India Infoline Asset Management Co. Ltd. Indiabulls Asset Management Company Ltd. JM Financial Asset Management Private Limited Kotak Mahindra Asset Management Company Limited(KMAMCL) L&T Investment Management Limited Motilal Oswal Asset Management Company Limited Peerless Funds Management Co. Ltd. Quantum Asset Management Company Private Limited Reliance Capital Asset Management Ltd. Religare Asset Management Company Limited Sahara Asset Management Company Private Limited Sundaram Asset Management Company Limited Tata Asset Management Limited Taurus Asset Management Company Limited

2. Foreign AIG Global Asset Management Company (India) Pvt. Ltd. BNP Paribas Asset Management India Private Limited Daiwa Asset Management (India) Private Limited FIL Fund Management Private Limited Franklin Templeton Asset Management (India) Private Limited Goldman Sachs Asset Management (India) Private Limited Mirae Asset Global Investments (India) Pvt. Ltd. Morgan Stanley Investment Management Pvt.Ltd. Pramerica Asset Managers Private Limited

3. Joint Ventures - Predominantly Indian Birla Sun Life Asset Management Company Limited DSP BlackRock Investment Managers Private Limited HDFC Asset Management Company Limited ICICI Prudential Asset Mgmt.Company Limited 204

- IDFC Asset Management Company Limited 4. Joint Ventures - Predominantly Foreign - HSBC Asset Management (India) Private Ltd. - ING Investment Management (India) Pvt. Ltd. - JPMorgan Asset Management India Pvt. Ltd. - Principal Pnb Asset Management Co. Pvt. Ltd. Source: http://www.sebi.gov.in/investor/mfadd.pdf Asset Under Management Various types of Schemes with Retails Investors Asset Under Management Contribution from Retail Investors As on March 31, 2012 Type of Schemes Liquid/Money Market Gilt Debt Oriented Equity Oriented Balanced Equity Gold ETF Other ETF (Other than gold) FOF Total AUM (Rs. Cr.) 848.15 202.32 22005.26 123548.54 10264.24 2604.7 394.48 922.51 160790.2 Percentage 0.53 0.13 13.69 76.84 6.38 1.62 0.25 0.57 100

Source: Compiled from www.amfiindia.com/AUMFolioDataReport.aspx Table Number: 4 From the above table it is inferred that majority of the Retail investors are only concentrating on Equity oriented fund alone because of lack of awareness on the various other tools for investment in the mutual fund industry. Total AUM held by Mutual fund AMC from Retail investor is Rs. 1,60,790.20 Crores. Asset Under Management Corporate Investors As on March 31, 2012 Type of Schemes Liquid/Money Market Gilt Debt Oriented Equity Oriented Balanced Equity Gold ETF Other ETF (Other than gold) FOF Total AUM (Rs. Cr.) 67546.48 2482.92 157275.05 18202.09 1540.21 5398.1 428.66 382.99 253256.5 205 Percentage 26.67 0.98 62.10 7.19 0.61 2.13 0.17 0.15 100.00

Source: Compiled from www.amfiindia.com/AUMFolioDataReport.aspx Table Number:5 From the above table it is inferred that majority of the corporate funds are place in debt oriented funds and then to liquid and money market funds. In corporate category 2,53,256.5 crores investment made in the AMC for various investments. Folios Managed by various AMC: Number of Folios under AUM in Indian Mutual Fund Industry as on 31-3-12 Type of Scheme Equity Oriented Type of Investor Corporate Banks/FIs FIIs High Net worth Individuals* Retail Total AUM Cr. 18202.09 2132.82 1212.35 37307.15 123548.54 182402.99 in % of Total 9.98 1.17 0.66 20.45 67.73 100 No. Folios 210385 1631 87 356670 37068734 37637507 of % of Total 0.56 0 0 0.95 98.49 100

Source: Compiled from www.amfiindia.com/AUMFolioDataReport.aspx Table Number:6 Conclusion: Assets of Mutual Funds in India constitute less than 10 per cent of GDP. A cross-country comparison suggests that Mutual Funds are very popular all over the world. However, assets under them in India are relatively low as compared with other emerging market economies. (http://www.rbi.org.in/scripts/ BS_SpeechesView.aspx?id=584#L5) It is evident there are lot of scope and hope for mutual fund in Indian has to grow in terms of AUM and Transaction value in stock exchanges. With the advent of new modern tools like ETF and FOF funds will have good fortune towards mutual fund industry growth. To conclude for the year 2012 76% of AUMs have performed better than the benchmarks over 3 years period and 56% of the AUMs have performed better than the benchmarks over 5 years period. The outcomes of the Mutual Summit 2012 held in India have made lot of positive scope to the Industry. The need for the mutual fund industry is greater retail participation and deeper penetration into smaller towns. There are two big initiatives of AMFI is working on they are one, the accelerated pace to investor awareness and two a special platform, MF utility, for investor convinced in operation of mutual funds. In the financial year 2011-2012, a total of 36 AMCs had conducted 11,402 investor awareness programme covering 405 cities and 318,991 participants. The Mutual fund Industry has not impact the capital market flows and other activities of the stock markets when compared to other stakeholder in the investment avenues.

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AN EMPIRICAL EXAMINATION OF STOCK PRICES BETWEEN INDIAN EQUITY MARKET INDICES AND SELECTED ASIAN EQUITY MARKETS
K.Lingaraja, Ph.D. Research Scholar, Department of Commerce and Financial Studies,Bharathidasan University, Tiruchirappalli- 620 024, Dr.M.Selvam, Associate Professor & Head, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli- 620 024, Abstract A comprehensive study on stock market integration carries a lot of importance in the present day Situation when Asian economies are among fastest growing economies in the world. This paper examines the interdependence between different Asian markets, including BSE SENSEX and its relation with other selected Asian Markets. The Statistical tools like Descriptive Statistics, Unit Root Test (ADF) and Correlation tests were used to examine the interrelationships between the Asian stock markets namely, India, China, Hong Kong, Singapore, Taiwan and Japan. The study suggested that the international investors achieve short term and long term gains by investing in the Asian stock markets because of the independencies of the stock markets. This paper is useful for individual and institutional investors for the management of their assets portfolios and policy makers. Keywords: Asian Stock Markets, Correlation, Descriptive Statistics, Indian Equity Market Indices, International Investors, Unit Root Test (ADF). 1. Introduction Stock Market plays a crucial role in global economics and corporate finance where the financial markets generate finance for the economic growth of the country. The Indian Stock exchanges hold a place of prominence not only in Asia but also at the global stage. The deregulation and market liberalization measures and the increasing activities of multinational companies will continually accelerate the growth of Indian stock market. The Bombay Stock Exchange (BSE) is one of the oldest exchanges in the world. The Indian stock market is the world third largest stock market on the basis of investor base and has a collective pool of about 20 million investors. Present study pertains to comparative analysis of the Indian Stock Market with respect to various Asian counterparts. It considers a key issue that may interest investors, portfolio managers, corporate executives and policy makers. They are interested in understanding the intensity of stock market integration for diversification motives. Thus, it becomes essential to examine the interdependence between different Asian markets, including BSE Sensex and its relation with other markets in Asia. The main part of the current study is to capture the trends, similarities and patterns in the activities and movements of the Indian Stock Market in comparison to its Asian counterparts. The aim is to help the investors to understand the impact of important happenings on the Indian stock exchange. This Study aims to empirically investigate the long-run equilibrium relationship and short-run dynamic linkage between the Indian stock market in particular and Asian stock market in general. 2. Review of Literature Various studies undertaken in different parts of the Asian Countries regarding linkages between the stock markets are mentioned as under: Cheung and Mak (1992) concluded that The US market can be considered as a 'global factor' and is found to lead most of the Asian Pacific emerging markets with the exception of three relatively closed markets: Korea, Taiwan and Thailand. The Japanese 207

market is found to have a less important influence on the Asian - Pacific emerging markets. Arshanapalli, Doukas and Lang (1995) examined the possible links between the US and six major Asian Stock Markets before and after October 1987.They concluded that the Asian equity markets were less integrated with Japanese equity market than they were with the US market. Masih, M.M. Abul and Masih, Rumi (1997) examined the dynamic linkage patterns among National stock exchange prices of four Asian newly industrializing countries Palac-McMiken (1997) uses the monthly ASEAN market indices (Indonesia, Malaysia, the Philippines, Singapore, and Thailand) between 1987 and 1995 and finds that with the exception of Indonesia, all the markets are linked with each other. Nath and Verma (2003) analyzed the level of capital market integration by examining the transmission of market movements among three major stock markets in Asian region, viz., India, Singapore and Taiwan; they suggested that international investors could achieve long term gains by investing in the stock markets because of the independencies of the stock markets. Methodology of the study Sample The study is based on secondary data, which covers the recent period using daily closing prices from 01/08/2000 to 31/07/2012. For better understanding and to judge time varying results the time period is divided into three equal parts. Period-I starts from 01/08/2000 to 31/07/2004, Period II starts from 02/08/2004 to 31/07/2008 and Period -III is ranged between 01/08/2008 to 31/07/2012, in order to capture the effect and movement of stock exchanges with each other during different periods. The economic situation changes during different times. Table - 1 shows the general stock indices of the Asian countries, which make up the sample of the study. The data is taken from Yahoo Finance and bseindia.com. The study is based on the daily closing price, rather than the intra-day prices. Statement of the Problem The Indian Stock market has grown rapidly since its liberalization in the early 1990s. The connection between stock markets is the vital importance to international equity investments, both in terms of managing risk and maximizing returns. Diversification strategy provides risk management and return maximization. By estimating the extent of connection between stock markets in different countries, one can assess the potential benefits available to investors through international diversification between the markets studied. As the level of Asian stock market cointegration increases, the benefit of diversification falls. Investors to enter markets that may have had certain barriers to entry in the past, creating an increase in capital mobility. The FIIS concentrated around a shock to the global equity market and the implications for various international stock markets. The Foreign Institutional Investors to invest the global market especially in Asian Market so many barriers is there to invest and portfolio diversification depends on Investors with the availability of information can make their investment decision. If developed countries markets show any negative reaction, investor can go for his short position and if there is any positive information, they can go for long position. Objectives of the Study The present study is proposed with the following objectives. To study the BSE Sensex return are normally Distributed in periods I (From 01-082000 to 31-07-2004).

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 To bring out the potential for diversification in selected Asian countries by studying correlations in the index returns. To observe the stationary level of closing price return for BSE Sensex and other Asian Countries Index Hypotheses To get an empirical result on this study, hypotheses need to be set and tested. After the review of literature and objectives, it is evident that econometric methods are the most useful method to analyse and interpret the data. For the purpose of the study, following hypotheses are put to trial. NH1 = BSE Sensex returns are not normally distributed in period I (from 01-08-2000 to 3107-2004) understudy. NH2 = No change in period wise correlation of BSE Sensex with all other Asian Countries indices understudy. NH3 = Existence of Unit Root (non stationarity) in BSE Sensex and other Asian indices in all the three periods. Tools Used For Analysis The following tools were used to Examining the above Hypothesis. The computations in the present study are aided by the use of Eviews 5.1 and SPSS ( Statistical Package for Social Science). In this study, following test were undertaken: Descriptive Statistics (Find out the not normal distribution of returns of Markets) Correlation (Pearson correlation is used to find correlation between the stock markets returns) Unit Root Test (Testing for stationary (unit root test) is done by using, the Augmented Dickey-Fuller ) Limitations of the Study The study suffers from the following limitations. This study considers only the closing prices of Asian Countries indices. Only the six Asian countries namely India, China, Hong Kong, Japan, Taiwan and Singapore have been taken for this study. The study period was limited to 1st August 2000 to 31st July 2012. All the limitations associated with the tools, are also applicable for this study also. This study is based on the secondary data and suffers from limitations which are bound to arise in secondary data. Results and Discussion Descriptive Statistics Table - 2 provides the summary of statistics about index return, namely means, minimums, maximums, medians, standard deviations(SD), skewness, kurtosis and the Jarque- Bera. The Descriptive Statistics for the daily returns of the Six Asian Countries. It is noted that during the Period-I SD The mean value of Indian Sensex is found to be the largest return value (0.019456) among other Asian Countries. Taiwan is earned to be the highest standard deviation (1.86987) and Singapore is earned to be the lowest standard deviation (1.216582). Result shows that the high risk (1.86987) with low return (-0.040178) for Taiwan. The value of Kurtosis for India, China, Hong Kong, Japan, Taiwan and Singapore indicates the positively (3.954302, 5.501062, 4.653544, 10.98837, 5.826295, 8.578937) respectively. The level of kurtosis is high in the whole Asian Countries. Those all sample countries were over the value of 3 or high level peak tail, which makes it Leptokurtic. 209

The results of table - 2 suggest that the six Asian countries obtained high risk. This table indicate that the more volatile during the study period. This result indicates that the distribution is not normal and hence the Null Hypothesis (NH1) BSE Sensex returns are not normally distributed in period I (from 01-08-2000 to 31-07-2004) is accepted. Correlation Analysis Correlation is the statistical tool used to measure the degree of relationship between different variables. When the values of one variable are associated with or influenced by other variable, karl pearesons coefficient of correlation can be use as a measure of linear relationship between them. As the study is aimed at finding relationship between different emerging Asian markets, therefore single variate correlation is used to analyze the extent to which each Asian countrys stock market is related with another. By looking at Table 3 shows that the following results can be concluded: Among the selected sample, highest positive degree of correlation is founded between Indian BSE Sensex and Singapore (.1450). Correlation Hong Kong and Taiwan are also very positive ranging above (.0250) degree. China is least correlated with Indian BSE Sensex (Period I) as its degree of correlation is found to be (-.0340). The highest positive degree of correlation is founded between BSE Sensex and Singapore (0.1450) followed by Hong Kong and Japan (.120). Table 4 shows that the highest positive degree of correlation is founded between Indian BSE Sensex and Singapore (.0850) followed by Taiwan (.080). Correlation Japan, China and Hong Kong are also very positive Correlated. Japan is least positively correlated with Indian BSE Sensex as its degree of correlation is found to be .0050. No Asian economy stock market is having negative correlation with Indias BSE Sensex. Among the selected Asian markets, highest positive degree of correlation is founded between Singapore, Taiwan and India followed by Taiwan and Japan (.0770). Table - 5 shows the highest positive degree of correlation is founded between Indian BSE Sensex and Japan (.0940) followed by Taiwan (.0470) and Hong Kong are also very positive Correlated. China and Singapore Asian economy stock market is having negative correlation with Indias BSE Sensex. Among the selected Asian markets, highest positive degree of correlation is founded between Singapore and Taiwan (.109) followed by Singapore and China (.098). Unit-Root Test Before examine the linkage among the Asian Stock Markets, both the Augmented DickeyFuller (ADF) and Philips Perron (PP) Unit-Root Tests were employed to examine the stationary property of market prices. The Dickey Fuller test attempts to account for temporally dependent and heterogeneously distributed errors by including lagged sequences of first differences of the variable in this set of repressors. Popular as it is, the ADF test statistic can very likely lead to erroneous conclusions in the event of a regime shift such as a market crash or an oil shock (Perron, 1989). The result of the ADF Test was examined in Table 6 that presents the daily share price return Six Asian Countries during the period from 01-08-2000 to 31-07-2004. The Statistical Value is (-32.07223, -31.02254, -29.54534, -31.35592, -30.74474 and -23.39927) for Japan, Hong Kong, Taiwan, China, Singapore and India respectively. The Statistics shows negative 210

returns for the whole Asian Countries. The Critical value at 1% significance level was (3.4368, -3.43678, -3.43692, -3.43641, -3.43666 and -3.43666). And at 5% significance level the value shows a negative return (-2.86427, -2.86427, -2.86433, -2.8641, -2.86421 and 2.86422) and at 10% significance also the critical value same negative and blow the statistical value for this Period I. So the overall analysis of the ADF test shows that for the period I there was stationary in the closing price return of all selected Asian countries. Hence there is no significant degree of correlation in selected Asian emerging markets of Null Hypothesis (NH3) is rejected. Table - 7 shows that the daily share price return Six Asian Countries during the period from 01-08-2004 to 31-07-2008. The Statistical Value is (-31.95934, -33.34883, -30.90889, 32.76618, -33.74797 and -29.69858) for Japan, Hong Kong, Taiwan, China, Singapore and India respectively. The Statistics shows negative returns for the whole Asian Countries. The Critical value at 1%, 5% and 10% significance level the critical value of returns same negative and blow the statistical value for this Period II. So the overall analysis of the ADF test shows that for the period II there was stationary in the closing price return of all selected Asian countries. Hence there is no significant degree of correlation in selected Asian emerging markets of Null Hypothesis (NH3) is rejected. Table - 8 Shows that the daily share price return Six Asian Countries during the period from 01-08-2008 to 31-07-2012. The Statistical Value is (-32.6195, -32.73372, -28.75914, 30.72931, -31.21914 and -29.08336) for Japan, Hong Kong, Taiwan, China, Singapore and India respectively. The Statistics shows negative returns for the whole Asian Countries. The Critical value at 1%, 5% and 10% significance level the critical value of returns same negative and blow the statistical value for this Period III. So the overall analysis of the ADF test shows that for the period III there was stationary in the closing price return of all selected Asian countries. Hence there is no significant degree of correlation in selected Asian emerging markets of Null Hypothesis (NH3) is rejected. From the table 6, 7 and 8, the correlation of Asian stock market indices conclude that the null hypothesis about the existence of a unit root cannot be rejected for all the variables using intercept terms in the test equation at the level form for all the periods. However, for the first differences of all the variables the null hypothesis of a unit root test is strongly rejected for all the three periods. Major Findings and Conclusions Study has founded significant relationship between emerging Asian markets and Indias BSE Sensex at .01 and .05 significance level and hence hypothesis of All the three spited Periods There is no significant degree of correlation in selected Asian emerging markets) is rejected. Following are the major findings of the study. Among the selected Asian markets, highest positive degree of correlation is founded between Indias BSE Sensex and Singapore (.1450) Period I followed by Hong Kong and Japan (.1310) Period III. As study is conducted for a long period, therefore investors can take the benefit of diversification in long periods. Hence, investors can take the advantages of diversification by investing in countries having high degree of negative correlation with their home country. At the same time they can take the benefits of investment in those countries which have high restriction for entry of foreign investors or having very high transaction costs by investing in highly positive country vis a vis the restrictive country.

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6 Conclusions Investors with the availability of information can make their investment decision. If developed countries markets show any negative reaction, investor can go for his short position and if there is any positive information, they can go for long position. Present study suggests that investment in Asian Countries Stock Markets in the long-run will be beneficial. But as the economies are undergoing through different reforms and fundamentals keep on changing therefore due care should be taken while taking investment decisions. This study alone should not be taken as the basis of selection of stock market. References 1. Arshanapalli, B., Doukas, J and. Lang, L. H. P. (1995). Pre and post-October 1987 stock market linkages between U.S. and Asian markets. Pacific-Basin Finance Journal, 3 (1): 57-73 2. Baharumshah, A. Z, Sarmidi, T and Tan, Hui Boon (2003). Dynamic linkages of Asian stock markets. Journal of the Asia Pacific Economy,8 (2): 180 209 3. Chan, K. C. Gup, B. E. and Pan , Ming-Shiun (1992). An Empirical Analysis of Stock Prices in Major Asian Markets and the United States, The Financial Review, 27 (2) :289-307 4. Cheung, Yan-Leung and Mak, Sui-choi (1992). The international transmission of stock market fluctuation between the developed markets and the Asian Pacific markets. Applied Financial Economics, 2(1): 43 47 5. Masih, A. and Masih,R.(1999). Are Asian market fluctuations due mainly to intraregional contagion effects? Evidence based on Asian emerging stock markets. Pacific Basin Finance Journal, 7(3-4): 251- 282 6. Mishra, A K. (2002). International Financial Integration of Domestic Financial Markets: A Study of India, The ICFAI Journal of Applied Finance, 8 (2): 5-15 7. Nath, G.C. and Verma, S. (2003). Study of Common Stochastic Trend and Cointegration in the Emerging Markets: A Case Study of India, Singapore and Taiwan.Research Paper, NSE-India. 8. Palac-McMiken, E. (1997). An examination of ASEAN stock markets: a cointegration approach. ASEAN Economic Bulletin, 13(3): 299-311 9. Sewell, S.P., Stansell, S.R., Lee, I. and Below, S.D. (1996). Using Chaos Measures to Examine International Capital Market Integration, Applied Financial Economics, 6: 91-101. 10. Sheng , Hsiao-Ching and Tu , A. H. (2000). A study of cointegration and variance decomposition among national equity indices before and during the period of the Asian financial crisis, Journal of Multinational Financial Management, 10 (3-4): 345-365 Website 1) www.finance.yahoo.com 2) www.bseindia.com 3) www.bullinvestors.com Table - 1 - Asian Stock Exchange and Indices Details
Sl. No 1 2 3 Country/ Region India Hong Kong Japan Stock Index BSE Sensex 30 Index Hang Seng Index Nikkei 225 Period 01/08/2000 - 31/07/2012 01/08/2000 - 31/07/2012 01/08/2000 - 31/07/2012 Observations (n) 2944 2995 2944

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4 5 6

Taiwan China Singapore

Taiwan Taiex Index Shanghai Stock Exchange Composite Index Straits Times Index

01/08/2000 - 31/07/2012 01/08/2000 - 31/07/2012 01/08/2000 - 31/07/2012

2941 3053 3020

Source: www.finance.yahoo.com Table - 2 - Descriptive Statistics of Asian Stock Market Index Returns (01-08-2000 to 31-07-2004)
Summary of Descriptive Statistics of Index returns (01-08-2000 to 31-07-2004) Asian Countries Name Descriptive Statistics Mean Median Maximum Minimum Std. Dev. Skewness Kurtosis Jarque-Bera Probability Observations JAPAN -0.035816 -0.039599 7.221743 -6.864457 1.578045 0.018718 3.954302 37.31987 0 982 HONG KONG -0.032753 -0.051067 5.434228 -9.285365 1.396514 -0.164961 5.501062 261.1957 0 985 TAIWAN -0.040178 -0.100794 6.172055 -9.936015 1.86987 -0.122804 4.653544 112.247 0 964 CHINA -0.036487 0 9.400787 -6.542996 1.248331 0.725005 10.98837 2864.627 0 1043 SINGAPORE -0.009176 -0.021143 4.905236 -7.713594 1.216582 -0.259561 5.826295 345.0918 0 1003 INDIA 0.019456 0.11057 7.931097 -11.8092 1.503612 -0.71835 8.578937 1387.01 0 1003

Source: Data has been Collected from Yahoo finance and Computed from E-Views Table 3 - Correlation of Asian Stock Market Index Returns Period 1(01-08-2000 to 31-072004)
CORRELATIONS - PERIOD 1 (01-08-2000 to 31-07-2004) Japan Japan Hong Kong Taiwan China Singapore India 1 0.1200** 0.0390 0.0810** 0.0440 -0.0100 Hong Kong 0.1200** 1 0.0310 -0.0190 0.0460 0.0410 Taiwan 0.0390 0.0310 1 0.0220 -0.0210 0.0250 China 0.0810** -0.0190 0.0220 1 0.0340 -0.0340 Singapore 0.0440 0.0460 -0.0210 0.0340 1 0.1450** India -0.0100 0.0410 0.0250 -0.0340 0.1450** 1

**. Correlation is significant at the 0.01 level (1-tailed). **. Correlation is significant at the 0.05 level (1-tailed).

Source: Data has been Collected from Yahoo finance and Computed from SPSS

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Table 4 - Correlation of Asian Stock Market Index Returns Period 2 (01-08-2004 to 31-072008)
CORRELATIONS - PERIOD 2 (01-08-2004 to 31-07-2008) Japan Japan Hong Kong Taiwan China Singapore India 1 -0.0470 0.077** 0.0140 -0.067* 0.0050 Hong Kong -0.0470 1 0.0330 0.0460 -0.0100 0.0330 Taiwan 0.077** 0.0330 1 -0.0480 -0.058* 0.08** China 0.0140 0.0460 -0.0480 1 -0.06* 0.0220 Singapore -0.067* -0.0100 -0.058* -0.06* 1 0.085** India 0.0050 0.0330 0.08** 0.0220 0.085** 1

**. Correlation is significant at the 0.01 level (1-tailed). *. Correlation is significant at the 0.05 level (1-tailed).

Source: Data has been Collected from Yahoo finance and Computed from SPSS Table - 5 - Correlation of Asian Stock Market Index Returns Period 3 (01-08-2008 to 31-072012)
CORRELATIONS - PERIOD 3 (01-08-2008 to 31-07-2012) Japan Japan Hong Kong Taiwan China Singapore India 1 .131** 0.048 .054* 0.026 .094** Hong Kong .131** 1 0.022 0.037 -0.032 0.025 Taiwan 0.048 0.022 1 .054* .109** 0.047 China .054* 0.037 .054* 1 .098** -0.02 Singapore 0.026 -0.032 .109** .098** 1 -.053* India .094** 0.025 0.047 -0.02 -.053* 1

**. Correlation is significant at the 0.01 level (1-tailed). *. Correlation is significant at the 0.05 level (1-tailed).

Source: Data has been Collected from Yahoo finance and Computed from SPSS Table 6 - Unit Root Test of Asian Stock Market Index Returns Period 1 (01-08-2000 to 31-07-2004)
Unit Root Tests for Period 1 (01-08-2000 to 31-07-2004) Market Index JAPAN HONG KONG TAIWAN CHINA SINGAPORE INDIA ADF Test Statistics* 1% -32.07223 -31.02254 -29.54534 -31.35592 -30.74474 -23.39927 -3.4368 -3.43678 -3.43692 -3.43641 -3.43666 -3.43666 Critical Value 5% -2.86427 -2.86427 -2.86433 -2.8641 -2.86421 -2.86422 10% -2.56828 -2.56827 -2.56831 -2.56819 -2.56825 -2.56825

Source: Data has been Collected from Yahoo finance and Computed from E-Views

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Table 7 - Unit Root Test of Asian Stock Market Index Returns Period 2 (01-08-2004 to 31-072008)
Unit Root Tests for Period 2 (01-08-2004 to 31-07-2008) Market Index JAPAN HONG KONG TAIWAN CHINA SINGAPORE INDIA ADF Test Statistics* 1% -31.95934 -33.34883 -30.90889 -32.76618 -33.74797 -29.69858 -3.4368 -3.43667 -3.43679 -3.43643 -3.4367 -3.43666 Critical Value 5% -2.86427 -2.86422 -2.86427 -2.86411 -2.86423 -2.86422 10% -2.56828 -2.56825 -2.56828 -2.56819 -2.56826 -2.56825

Source: Data has been Collected from Yahoo finance and Computed from E-Views Table 8 - Unit Root Test of Asian Stock Market Index Returns Period 3 (01-08-2008 to 31-072012)
Unit Root Tests for Period 3 (01-08-2008 to 31-07-2012) Market Index JAPAN HONG KONG TAIWAN CHINA SINGAPORE INDIA ADF Test Statistics* 1% -32.6195 -32.73372 -28.75914 -30.72931 -31.21914 -29.08336 -3.43683 -3.43662 -3.43674 -3.43695 -3.43657 -3.43674 Critical Value 5% -2.86429 -2.86424 -2.86425 -2.86432 -2.86417 -2.86425 10% -2.56829 -2.56823 -2.56826 -2.56834 -2.56822 -2.56827

Source: Data has been Collected from Yahoo finance and Computed from E-Views

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IMPROVING RURAL FINANCIAL ACCESS FOR THE INCLUSIVE GROWTH OF THE COUNTRY; AN EMPIRICAL STUDY OF FINANCIAL ACCESS OF KOZHIKODE DISTRICT OF KERALA
Shameem P K Research Scholar, Mahatma Gandhi University Kottayam,

This Article is Repetition Check

Abstract For the inclusive and sustainable growth of the country, improved rural financial access is prerequisite. Access to finance is essential for employment, economic growth, poverty alleviation and social upliftment of the rural people. In India more than 70 percent of households live in rural areas. So the existence of rural financial institutions assumes a significant importance. Thus the policy makers recognised the fact that the potential of rural India should not under estimated. Rural financial institutions have to play dual role in rural areas to institutionalize the rural savings for developmental activities. Then the help in the social upliftment of the poor as a part of social banking. Here the researcher conducted dual mode study, i.e. from institutional side and the respondents side. This empirical study based on 150 samples from the different areas of the district. It is aimed to find out the current financial behaviour of rural people, financial access rate, problems of access to finance and finally suggestions to improve financial access. Introduction Rural finance is the provision of financial services to a heterogeneous, rural, farm and nonfarm population at all income levels through a variety of formal , informal and semi-formal institutional arrangements and diverse types of product and services such as loans, deposits, insurance and remittances. Rural finance encompasses the range of financial services offered and used in rural areas by people of all income levels. It includes agricultural finance, which is dedicated to financing agricultural related activities such as input supply, production, distribution, wholesale, processing and marketing, and microfinance which provides financial services for poor and low income people by offering smaller loans and savings services, while accepting a wider variety of assets as collateral. The following diagram illustrates the overlapping relationships between these different terms. Fig.1 Relationship between rural finance, agricultural finance and micro finance Rural financial access is the usage rate of financial services by the rural households. It is concerned with frequency with which the rural people are using the financial services. Expansion of rural financial access helps the developing countries like India to create a win-win scenario that will promote 216

growth while also help in reducing poverty. Given the high proportion of poor populations that live in rural areas, the growing income inequality between urban and rural markets, and concerns for food security and population vulnerability in rural communities, many development agencies are returning their attention to rural financial deepening as part of a strategy to stimulate rural private sector development. In order to improve rural financial access, both the problems of rural financial institutions and rural households has to be resolved. This study ultimately trying to suggest many solutions for the said problems on the basis of empirical data collection. Objectives of the study To understand the financial access of rural people in Kozhikode district in terms of accessibility to bank account, access to credit, access to modern banking services, accessibility to insurance services and access to other financial services. To analyse the financial accessibility of rural people among the different categories of occupation, source of income, level of income and distance to financial institution. To study the accessibility of financial services of rural people to formal and informal sources. To study how the rural people receive the remittances and make payments To develop solutions on the basis of the findings of the study. Hypothesis of the study The following research hypothesis has been framed on the basis of the objectives of the study There is no significant relation between financial access and employment status. There is no significant relation between financial access and level of income. There is no significant relation between financial access and level of education. There is no significant relation between financial access and source of income. There is no significant relation between financial access and distance to the bank. There is no significant relation between family income and formal/ informal access to loan. Methodology of the study The proposed study is both descriptive and empirical in nature. Both primary and secondary data have been used for the study. The present study mainly based on the financial access, financial behaviour and financial literacy of rural people. Primary data have been collected from the sample of rural people and financial institutions from Kozhikode district of Kerala. A structured questionnaire has been developed for the purpose of collecting primary data from rural people. For developing questionnaire, a pilot study has been conducted among 20 rural people. On the basis of the pilot study, the questionnaire has been redrafted and finalized. To collect primary data from financial institutions interview method has been followed. The secondary data have been collected from the books, journals, periodicals, news papers and websites related to the subject. Rural finance service providers in India India has a range of financial service providers including formal sector financial institutions at one end of the spectrum, informal providers (mostly money lenders) at the other end, and between these two extremes a number of semi-formal/micro finance providers. FORMAL PROVIDERS 217

Formal rural finance services providers are either owned or regulated by the Government of India. It includes Commercial Banks Rural Co-operative banks Post office system Mutual funds and Insurance companies Commercial Banks Commercial banks, mostly public sector banks (but also some private-sector banks) and regional rural banks (RRBs) together have more than 32,000 rural branches. The following table presents the structure of commercial banks in rural and urban areas. It also shows the proportionate of rural branches over the total branches in India Table 1 - Structure and number of commercial banks in rural areas Rural Total % of Rural Commercial banks Branches Branches Branches Public Sector Banks State Bank group 5915 17229 34 Other Nationalised Banks 13652 41569 33 Total (A) 19567 58798 33 Private Sector Banks Old Private Sector Banks 861 4952 17 New Private Sector Banks 340 5075 7 Total (B) 1201 10027 12 Total Scheduled Commercial Banks 20768 68825 30 Regional Rural Banks (RRB's) 11626 15127 77 TOTAL 32394 83952 39 Source: RBI Report on Trends and Progress of Banking in India 2010-11 From the above illustrated table, it entails that only 33% of Public Sector Banks functions in majority of rural areas, while in the case of Private Sector Banks, it is only 12%. By adding RRB (which is exclusively set up for the rural areas), it rose to 39% only. Rural Co-operative Banks India is also a vast network of rural co-operative banks with a three tiered structure at the state, district, and village levels. Table 2 Structure and number of co-operative banks State Co-operative Banks 31 District Central Co-operative Banks 370 Primary Agricultural Credit Societies 95633 State Co-operative Agriculture and Rural Development 20 Banks Primary Co-operative Agriculture & Rural Development 697 Banks TOTAL 96751 Source: RBI Report on Trends and Progress of Banking in India 2010-11 Presently 96,751 different co-operative banks are functioning in rural areas. They mainly concentrate in agriculture and rural development. 218

Post Office System It leads to the physical service point network of the country with more than 1, 54,000 post office branches handling more than 110 million money orders and administering 114 million saving accounts. Mutual Funds and Insurance Companies They have a moderate reach in rural areas, though this is gradually increasing. Recently the introduction of Government Health Insurance increased the number of insurance subscribers in rural areas. SEMI-FORMAL / MICROFINANCE SECTOR While India is home to many microfinance innovations, in terms of people reached and the scale of financing, microfinance in India is still a drop in the ocean. It reaches between 5 and 6 percent of the countrys poor rural households. Dominant among the microfinance models is Self-Help Group (SHG) Bank linkage, whereby womens SHGs are linked to the rural branches of commercial banks, RRBs or co-operative banks, which often benefit from refinancing by NABARD. Other model is specialized Microfinance Institutions (MFIs), which reach around 1million, clients. INFORMAL PROVIDERS Informal finance provides are very much dominant in rural areas. They includes Land lords Local shopkeepers Traders Professional money lenders etc.

The interest charged on informal loans averages 48% p.a. Not surprisingly, informal borrowing is very important for the poorest which are more deprived of formal finance. Informal financiers have the advantage of knowing their client better than most formal institutions such as banks. They are better able to enforce contracts and provide flexible products. Constraints for the financial access of rural people. A combination of factors affecting both financial institutions and their clients contribute to reducing the supply of finance for the poor, driving up costs and hampering access. Why financial institutions are reluctant to lend to rural clients? From the perspective of rural financial institutions, serving the rural poor is a high risk, high cost preposition. From the response of financial institutions, following factors de motivating them for providing credits and other financial services. Uncertainty and default risk Lack of credit information The tyranny of collateral Transaction costs Weak legal framework and enforcement issues Government policy. Problems faced by the rural people for the financial access From the perspective of rural people, rural banks are unattractive for several reasons. Important of them are Absence of flexible products and services 219

 Transaction costs including distance to the bank Collateral High rates of illiteracy Major results of the study 2. Percentage and tabular analysis. 76% of the respondents have the bank account with any of the formal banking institution. In another sense 24% of rural people have no access to formal banking institutions. Out of the banked respondents saving accounts are mostly demanded (63%) and current accounts are least demanded (2.9%). 70% of respondents are above 5 K.M distance area from home to the bank. 47% of respondents opened the account for the purpose of keeping money safe. Recently rural peoples started new bank account to receive payments from Govt or other institutions (17%). It is mainly for getting the payments of National Rural Employment Guarantee Programme (NREGP). Main reasons for rejection of application for bank account due to incomplete application (63% of respondents). Apart from that 36% of the respondents have no ability to fill different banking documents. Majority of respondents (82%) are receiving their source of income through liquid cash. 83% of respondents are borrowing the money from different sources to finance for the non daily huge expenditure. Informal sources are dominating over formal sources for the borrowing. Only 36% respondents are borrowing from formal sources. That means 64% respondents are borrowing from informal sources. 66% of respondents have any kind of insurance policy. Recently number of health insurance policy increased in rural sector because of the introduction of government sponsored health insurance packages. 43% of respondents have the membership in that policy. 61% of respondents have no access to any kind of pension fund / plan. 3. Hypothesis testing There is significant relation between financial access and employment status. There is significant relation between financial access and level of income. Unbanked rate is decreasing as the income level increases. There is significant relation between financial access and level of education. As the level of education increases financial access also increases. There is significant relation between financial access of rural people and sources of income. There is significant relation between financial access and distance to the bank. As the distance to the bank increases the unbanked rate also increases. There is significant relation between family income of rural people and formal / informal access to loan.

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Conclusion Improving access to finance for rural people, to meet their diverse financial needs (savings, credit, insurance, etc.) through flexible products at competitive prices presents a formidable challenge in a country as vast and varied as India. But the opportunities are plentiful, and government has an important role to play in creating space and a flexible architecture for scale-up. In the case of Kozhikode district majority of the people have the access to saving i.e., 76% of the rural people have the access to any kind of bank account. Recently access to savings rate increased due to the opening of non frill bank account for National Rural Employment Guarantee Programme (NREGP). But in the case of access to credit, majority of rural people in Kozhikode district are approaching to the informal sources i.e., 60% of people are borrowing from informal sources. References Books Sujatha B, financial inclusion: concepts and strategies, Fist edition, Hyderabad : ICFAI publishers,2006 Ravichandra Krishnamurthy, Financial Inclusion fourth edition, New Delhi: VDM Velberg publishers,2010 Sameer Kochhar, K C Chakrabarty, C Rangarajan, Speeding Financial Inclusion, Academic publisher,2010 Journals and Government publications Info Resources Focus No 2/08 Kerala Economic Review 2010 Handbook of statistics on Indian economy 2010, RBI publications Websites www.ifad.org www.ruralfinance.org, www.inflibnet.ac.in

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CHANGE MANAGEMENT SPECIAL REFERENCE TO ROLES IN CHANGE MANAGEMENT AND TEAM CHANGE
M.LAKSHMIDEVI, Research Scholar -Bharathiar University DR.R.MARIA INIGO, Bharathidasan Govt Womens College, Pondicherry Effectiveness comes through change. All human systems change but much less often as compared to a business organization. The change in a business organization is either a piecemeal change to deal with routine problems as they arise or a planned change to deal not only with present problems but with anticipated problems not yet clearly observable. Meaning of Change: Change is an alteration in People Structure Known as Change Agents Technology Forces for change: The forces that push organizations to change are many. Only several key categories to change forces can be studied which are coming from the following such as: People Technology Information Processing Communication Competition Social Trends Change management: meaning It is always needed to align an organization, or at least getting executive management and management as a whole truly working together, requires change in the organization Change management is managing the process of implementing major changes in information technology, business processes, organizational structures and job assignments to reduce the risks and costs of change and optimize its benefits. It is an approach to shifting / transitioning individuals, teams and organizations from a current state to a desired future state. Evolution of change management: Linda Ackerman Anderson, described how change management in late 1980s and early 1990s. Mckinsey Consultant Julien Phillips first published a change management model in 1982 in the journal HRM. Marshak credits the big 6 accounting firms and management consulting firms with creating the change management services in the late 1980s. Team change: To dealing with group / Team to manage change effectively the following techniques are used. A) Sensitivity Training: It was first used in Bethel , Maine in 1947.The technique is based on the use of peer groups for individual and organizational change. The trainer plays a passive role in the training process. Environment is helpful for anybody to talk freely on the subject. They can express views freely and not to be punished. Opportunities are provided to understand the behavior of the individuals and that of others.

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The intervention through sensitivity training is helpful Understand ones own behavior Understanding how ones behavior affects others behavior Understanding group processed Developing increased tolerance for other peoples behavior.

B) Team building: Team efforts are important in an organizational for the following purposes: To meet with the increasing environmental for the pressures on business

To bring about changes in an organization forms Various stages have to be faced to build a team. In each stage, two basic orientations are to be built into the thinking and behaviours of the members:

Team Effort

90% of any organization activity

Stage 1: Building awareness and forming the group Stage 2: Confrontation with issues, problems and conflicts. Stage 3: Maximizing cooperation Stage 4: Focused on change implementation / goal achievement.

Self managed work teams (SMT): SMTs are characterized by: Goal setting Multiskilled work force Shared leadership Participative discussions Interpersonal trust Individual and mutual accountability Result focused Problem solving SMT teams are ideal in the organization in implementing change at the unit / departmental level. There are also other types of SMT teams like: Cross functional teams. Team based compensation. Employees can successfully make their own personal transition when each of these actors fulfills their role in the context of a holistic , planned change management approach. Prosci has developed tools to support each of the

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Importance of various roles in change management: Role Importance v Without dedicated resources, v Change management resource / change management activity will not be team completed. v Effective sponsorship is a predictor v Executive and senior managers of success on the project. v Managers and supervisors are close to the action it is their teams who must v Middle managers and supervisors change how they do their jobs for the change to be successful. v The project team is tasked with v Project team managing the technical side of the change. v Project support functions bring expertise in a particular are these groups include Human Resources staff. Organization Development staff, Training v Projects support functions specialists, Communication specialists, solution specific subject matter experts etc.In some cases , one of these project support functions might operate as the change management team or resource. Benefits of change management: The organization can respond faster to customer demands Helps to align existing resources within the organization Change management allows the organization to assess the overall impact of a change Change can be implemented without negatively affecting the day to day running of business. The time needed to implement change is reduced The possibility of unsuccessful change is reduced. Employee performance increases when staff feels supported and understand the change process. Change management provides a way to anticipate challenges and respond to these efficiently. An effective change management process lowers the risk associated with change. Managed costs of change: change management helps to contain costs associated with the change Increased return on investment Disadvantages: A bad change management plan can also negatively affect an organization. While change can be risky, the benefits far outweigh the potential pitfalls. Improper adaptation of change management process which cannot deal resistance from employees through proper communication. Some time it can derail any project also.

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CONCLUSION: The following steps are essential for change managers to make change management process as an effective and successful program. v v v v v Adopt a structured methodology which will use on the projects. Behind making a case for why it is important to manage the people side of change. Explain the role that manager need each of these groups to fill. Provide knowledge, training and tools. Coach the groups supporting change management in an efficient manner.

EMPLOYEE ENGAGEMENT: AN EARTH-SHATTERING FACTOR IN GLOBAL ARENA

MR. S. KASINATHAN., Research Scholar, (Bharathiyar University, Coimbatore) DR. K. SHYAMA SUNDAR, Research Supervisor, (Bharathiyar University, Coimbatore) & Director, Department of Management Studies, Mohamed Sathak College of Arts and Science, Sholinganallur, 600-119. Abstract: Employee engagement is a heightened emotional and intellectual connection that an employee has for his/her job, organization, manager, or co-workers that in turn influences him/her to apply additional discretionary effort to his/her work. Engagement is something different from employee motivation, by the way. The latter is a much over-used and abused but deeply engrained attitude governing our assumptions about learning, child-rearing, and employment. Employee engagement involves giving your workforce a sense of participation, freedom and trust. It differs from motivation and job involvement, and is something that is felt at three levels: the emotional, the cognitive and the physical. If an employee feels engaged on all of these levels, that is to say they feel they have meaningful relationships with peers and co-workers and are aware of their specific mission and role; they are more likely to produce good work and stay with the company. Engaged employees may also feel better about themselves and the contributions they make towards their job. There are various processes and benefits that can be put in place to increase the likeliness of engagement, including work-life balance programs, flexi-time, telecommuting, compressed workweeks, reward programs and performance management systems. Beyond this, it is the duty of the manager to create an environment whereby each employee feels valued, motivated and involved. The aim of this paper is to present the importance of employee engagement in various industries, also would bring various outcomes of it. The research was conducted in 2012, in Chennai Region with the probability sampling (Cluster Sampling Technique) of 112 samples through the distribution of structured Questionnaire. The study has found that the positive significant relationship between right opportunities to learn in the company and training program helps to know the hidden talents, capabilities and potentials. The more engaged the employee is on each dimension, the higher his or her overall personal engagement. Introduction: Fueling the recruitment and retention challenge are factors that have traditionally been characteristic of the industry and that have contributed to the perception that it is a less than ideal place to work (Christensen Hughes, 2008; Kusluvan, 2003). Contributing factors

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include managements traditional focus on minimizing labour costs (Christensen Hughes, 2008), the emotional labour requirements of many service industry jobs (Hoschschild, 1983; Lashley, 2002); the lack of job security associated with fluctuations and seasonality (Twinning-Ward and Baum, 1998); the lack of opportunity for promotion from within (Riley, 1996); and poor working conditions in general (e.g. unsocial working hours, health and safety concerns, harassment, poor work-life balance). In the future, the industrys recruitment and retention challenges will likely continue to intensify unless these core characteristics are effectively challenged and the employer brand for the industry overall improves. Employee engagement is a heightened emotional and intellectual connection that an employee has for his/her job, organization, manager, or coworkers that in turn influences him/her to apply additional discretionary effort to his/her work. Becker et al. (2001) found a strong correlation between high-performance HRM systems and practices and a number of organizational variables including turnover, sales per employee, and market value. Similarly, employee engagement has been associated with a number of important organizational outcomes, many of which are directly related to talent management such as ease of recruitment, retention, and employee turnover. Objectives of the Study: to identify the various driving forces influencing employee engagement to know impact of employee engagement on the organizational outcomes Hypothesis of the study: There is a positive significant relationship between Right opportunities to learn in the company and training program helps to know the hidden talents, capabilities and potentials. Review of Literature: The more highly engaged the employee, the more likely he or she will be to say positive things about the organization, thereby contributing to the development of a positive employer brand; want to remain within the organization, thereby minimizing turnover; and regularly exert a superior level of effort, thereby potentially influencing such variables as service quality, customer satisfaction, productivity, sales, profitability, etc. In reviewing the results of 12 major research studies Gibbons (2006, p. 6) identified the top drivers of employee engagement. These include: 1. Trust and integrity the extent to which the organizations leadership is perceived to care about employees, listens and responds to their opinions, is trustworthy, and walks the talk; 2. Nature of the job the extent of employee participation and autonomy; 3. The connection between individual and company performance the extent to which employees understand the companys objectives, current levels of performance, and how to best contribute to them; 4. Career growth opportunities the extent to which employees have opportunities for career growth and promotion or have a clearly defined career path; 5. Pride about the company the extent to which employees derive self-esteem from their work; 6. Co-workers / team members attitudes and perspectives of coworkers towards their jobs and the company;

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7. 8.

Employee development the extent to which efforts are made to develop the employees skills; Personal relationship with ones manager the extent to which the employee values this relationship.

As employers were struggling with the quest of trying to get more work out of their employees, employee engagement presented itself as the strategy that would enable employers to get more work from their employees. Experts asserted that engaged employees do more with less when compared to unengaged employees (Welbourne, 2007). Methodology: Given the descriptive nature of the research, a various methods of approaches were followed for investigation, which included questionnaires, interview schedule, and possible secondary sources (findings of previous research studies). The research was conducted in 2012, in Chennai Region with the probability sampling (Cluster Sampling Technique) of 112 samples. The interview schedule was unstructured and was based on the multiple choices, dichotomized and open-ended question about various levels of employees, with special reference to the entry and middle level. There are many tools has been used for Data Analysis such as: Percentage analysis, Correlation of Co-efficient for the easy understanding of the readers. Analysis: SA Strongly Agree; A Agree; NE- Neutral (or) Neither Agree Nor Disagree; DADisagree; SDA Strongly Disagree
Sl.No. 1 2 3 4 5 6 7 8 9 Statement Supervisors take the responsibility for seeing that the work is done properly. When working, my company inspires and motivates me to perform to the best of my abilities every day Our company vision and mission is clear to me I have a clear idea of the role of my present job in my company I feel I got the right opportunities to learn more In this organization, there is a definite career plan for the employees. Support from the co-workers is helpful to get motivated The training program of your organization helps to know your hidden talents, capabilities and potentials. Seniors often help in sorting out your personal/professional problems. SA 20 (17.86%) 13 (11.61%) 25 (22.32%) 17 (15.18%) 11 (9.82%) 9 (8.04%) 12 (10.72%) 5 (4.46%) 14 (12.5%) A 67 (59.82%) 56 (50%) NE 14 (12.5%) 32 (28.57%) 19 (16.96%) 21 (18.75%) 32 (28.58%) 49 (43.75%) 52 (46.43%) 13 (11.61%) 49 (43.75%) DA 11 (9.82%) 10 (8.93%) 2 (1.78%) 8 (7.14%) 27 (24.01%) 0 (0%) 6 (5.35%) 4 (3.57%) 0 (0%) SDA 0 (0%) 1 (0.89%) 0 (0%) 2 (1.79%) 3 (2.68%) 0 (0%) 4 (3.57%) 0 (0%) 9 (8.04%)

66 (58.94%) 64 (57.14%) 39 (34.82%) 54 (48.21%) 38 (33.93%) 90 (80.36%) 40 (35.71%)

Table: 1 Calculation of Correlation of co-efficient Right opportunities to learn in the company (Vs) training program helps to know the hidden talents, capabilities and potentials

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Aim: to find out the correlation between the two variables (i.e.,) Right opportunities to learn in the company and training program helps to know the hidden talents, capabilities and potentials X 11 39 32 27 3 Total Y 5 90 13 4 0 x = Xx -11.4 16.6 9.6 4.6 -19.4 0 x 129.96 275.56 92.16 21.16 376.36 895.2 y= Y- y -17.4 67.6 -9.4 -18.4 -22.4 0 y 302.76 4569.76 88.36 338.56 501.76 5801.2 xy 198.36 1122.16 -90.24 -84.64 434.56 1580.2

Table: 2 x = 112; y = 112; x = x / N =112/5 = 22.4; y = y / N =112/5 = 22.4 r= Nxy - x y Nx - (x) Ny - (y) r= 5 (1580.2) - (0) (0) = (7901) 5 (895.2) - (0) 5 (5801.2) - (0) (4476) (29006) r= (7901) (66.90) (170.31) r= (7901) 11393.739 r = 0.69345 Conclusion: From the correlation analysis result, it has been found that there is a positive significant relationship between right opportunities to learn in the company and training program helps to know the hidden talents, capabilities and potentials. Findings & Recommendations: General Findings: More than half of the respondents were accepted that Supervisors take the responsibility for seeing that the work is done properly. Half of the respondents were agreed that when working, my company inspires and motivates me to perform to the best of my abilities every day. More than half of the respondents were agreed that their company vision and mission is clear to them, very few of them were disagreed the statement. Most of the employees were accepted the statement of that they have a clear idea of the role of their present job in their company. Most of the employees were accepted the statement of that the training program in their organization helps to know their hidden talents, capabilities and potentials. Statistical Findings: There is a positive significant relationship between Right opportunities to learn in the company and training program helps to know the hidden talents, capabilities and potentials.

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Recommendation: The employment cycle for some organizations begins at employee recruitment and ends with initiatives directed at long-term employee engagement. Talent management is integral to engaging employees in the organization. The ability to effectively address both of these issues has become a primary determinant of organizational success and in some cases, even survival. In order for organizations to remain competitive in their market, they need employees who understand and promote the organizations vision. A critical element for achieving and engaged workforce is to recognize what factors influence employee engagement. The degree to which an employee is engaged at work directly impacts their time away from work, their desire to remain with the organization, and the quality of their work. Conclusion: Engaged employees plan to stay with their current employers, compared to disengaged employees. Another important organizational outcomes associated with increased levels of employee engagement include higher employee productivity and customer engagement levels, as well as revenue growth and higher operating and profit margins. Demonstrating a causal relationship between engagement and financial outcomes Hewitt and Associates (2004) found that as levels of employee engagement increased, so too did indicators of financial performance. Bibliography: 1. Baum, T. (1995), Managing Human Resources in the European Tourism and Hospitality Industry: A Strategic Approach, Chapman and Hall, London. 2. Becker, B.E., Huselid, M.A. and Ulrich, D. (2001), The HR Scorecard: Linking People, Strategy, and Performance, Harvard Business School Press, Boston, MA. 3. Christensen Hughes, J. (2008), Human resource management in the hospitality industry, in Brotherton, B. and Wood, R.C. (Eds), Handbook of Hospitality Management, Sage, London, pp. 273-01. 4. Gibbons, J. (2006), Employee Engagement: A Review of Current Research and Its Implications, The Conference Board, New York, NY, pp. 1-21. 5. Hewitt Associates (2004), What makes a best employer?, Insights and Findings from Hewitts Global Best Employers Study, Hewitt Associates, pp. 1-28. 6. Hoschschild, A.R. (1983), The Managed Heart: Commercialization of Human Feeling, University of California Business Press, Berkeley, CA. 7. Kusluvan, S. (2003), Managing Employee Attitudes and Behaviors in the Tourism and Hospitality Industry, Nova Science, New York, NY. 8. Lashley, C. (2002), A feeling for empowerment, in DAnnunzio-Green, N., Maxwell, G.A. and Watson, S. (Eds), Human Resource Management: International Perspectives in Hospitality and Tourism, Continuum, London, pp. 200-11.

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ROLE OF HUMAN RESOURCE MANAGEMENT IN DEVELOPING THE ENTREPRENEURSHIP

C. LUMINIA VINODHINI, Asst .Professor-Dept of Commerce, Anna Adarsh College for women, Chennai. Human Resources Management : Human Resources Management (HRM) is the systematic approach to the management of an organizations employees. Functions within HRM include: employee/employer relations, staffing, labor law compliance, risk management, payroll, and employee benefit administration. Large organizations usually have staff specifically assigned to the Human Resources department. In smaller organizations and startups, the business owner or a general staff member often fills this role. The entrepreneur and small business owner are faced with the same HRM obstacles of large organizations, without equal resources available to them. Fortunately, there are resources and tools available that make running a small business easier and help to increase marketplace competitiveness. HRM: Employee/Employer Relations: The Human Resource Department is responsible for managing the employee capital of a company. As a result, it is the only organizational department that is intertwined with all other departments within an organization. 2. Acting as a buffer between the corporation as an entity and the employee as an individual, the Human Resource Department is responsible for: new hire processes, communicating company policies, conducting employee reviews, resolving employee grievances, taking disciplinary measures, and developing employee handbooks. 3. Unique challenges also arise as societal and cultural views become more transparent. Organizations must adapt to meet the challenges of a more diverse employee population and work environment. Diversity Management, Employee Assistance Programs, and Wellness Initiatives are examples of cutting edge and ever changing applications that the Human Resource Department administers and evaluates. HRM: Resources for the Entrepreneur : Entrepreneur is the engine of sustainable development of the enterprise. Entrepreneur as the excellent people of operating management is one kind of scarce resource which human resource capital value is higher, and plays an important role in economical society development. Strengthening entrepreneur group construction is the necessary demand for establishing and consummating modern entrepreneurs institution and coming true economy development calmly and fastly,. The changing nature of human resource management fostered the development of entrepreneurial activities in human resource management. Some of these changes were forced on human resource management through activities such as downsizing, which affected human resource staff as well as other employees. Other changes were the consequence of human resource management's need to demonstrate its ability to add value to a firm. Entrepreneurial activity was demonstrated through an entrepreneurial philosophy, 1.

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treating other departments within the firm as customers when they utilized the services of human resource departments, and the development of new firms who provided human resource services. Like all entrepreneurial endeavors, human resource entrepreneurs have varied in their success. The successful entrepreneurs have been able to identify better and more cost-effective ways to provide human resource services. They also have demonstrated the ability of human resource management to add value to a firm. NEW VENTURE CREATION : The new venture creation involves nascent entrepreneurs recognizing opportunities and exploiting those opportunities by taking action to create a new venture. The actions entrepreneurs take include actions related to financing and human resources. Moreover, the financial and human resources related actions that an entrepreneur takes are constrained by the entrepreneurs notions of what s/he thinks an entrepreneur is. TEACHING HUMAN RESOURCES MANAGEMENT TO FUTURE ENTREPRENEURS: It is essential to discuss the role of training in Human Resource Management (HRM) for nascent and practicing entrepreneurs. The training improves the needs of future entrepreneurs for HRM knowledge and skills. The adequate HRM competencies may enhance the confidence of nascent entrepreneurs to successfully pursue their ideas. Furthermore, new ventures rarely can purchase HRM competences from the external market (i.e., professional consultants or HR specialists). This makes it mandatory for venture creators to possess some skills in developing HR practices and policies. Entrepreneurship curriculum should include courses that enhance HRM competences particularly relevant to entrepreneurial firms. Accordingly, the array of HR issues that are generally encountered by entrepreneurs at various stages of venture creation. Thus, the main goal is to encourage educators to incorporate a more intensive training of future entrepreneurs in HRM. Although the research on HRM practices in small and entrepreneurial firms is limited, there is a growing body of research that can guide future entrepreneurs. First, recognize differences in HRM practices between established and entrepreneurial firms. Second, point out those HR practices that can be universally successful and should be followed from the very early venture planning and development. Finally, identify practices that are particularly applicable for small businesses. Creative strategies to address challenges at various stages can become a source of generate competitive advantage. Emphasize the unique challenges in managing people at the very initial stages of venture creation. Also claim that nascent entrepreneurs who realize the importance of HR decisions at these stages can make a huge difference for the survival and growth of the business. Previous research provides some evidence that human resources are managed differently in small entrepreneurial firms than in large established firms. Other studies cast doubts on the effectiveness of the HRM practices that are borrowed from large, established firms and applied in small and new enterprises. Since the HRM discipline has evolved around large organizations, the HRM curriculum heavily reflects their practices. As a result, students are generally exposed to best practices and examples that work in successful but large and established ventures. Recently, some texts have begun to incorporate success stories of smaller and newer companies to exemplify creative HRM strategies.

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Particular HRM issues are necessary to prepare nascent entrepreneurs for each stage of venture creation - from developing a businesses idea to growing and sustaining the business. Highlighting the importance of human resource planning to address both immediate needs and future strategic goals. Future entrepreneurs are encouraged to aggressively develop strategies for attraction and retention of qualified talent. Additionally, development of fair and appealing work environments through creative benefits and practices can be used to counter the lack of affluent resources. Along with some apparent limitations, small and new businesses have advantages that if harvested wisely can be sources of competitiveness. Some advantages are informality, flexibility, and strong culture originating from the founder. Ventures can capitalize on these features by developing respective personnel policies to save on cost and create inimitable advantage. Additionally, starting businesses may experience extreme pressure to comply with industry norms and follow certain HR practices to gain legitimacy. Entrepreneurs who understand the motivation behind the mimicry that certain business practices have, may have the advantage of avoiding unnecessary and costly practices that do not serve business purposes. Finally, we urge more attention in research, teaching, and practice to the HRM practices in the initial stages of venture creation.

THE NEED OF 720 DEGREE PERFORMANCE APPRAISAL IN COMPANIES

MS.SHAMSI SUKUMARAN K, Faculty Member, Amity Global Business School Ernakulam Abstract Performance appraisal is a concept started in 20th century. It is the process of obtaining, analyzing and recording information about an employee to evaluate and improve their performance. 720 degree feedback is performing a feedback after the main 360 degree appraisal. Many management experts feel that doing a comprehensive 360 degree appraisal is not complete in itself. They feel that an effective procedure to measure improvements and receive feedback is essential for the success of any appraisal. This gives a pre and a post intervention result. The pre-intervention result sets the baseline. The development intervention is then done to improve the participants behavior (e.g., training, coaching). The post-intervention survey then shows the amount of improvement in the results. 720 degree as the name suggests is 360 degree twice - doing the appraisal once, where the performance of the employee is analyzed and having a good feedback mechanism where the boss sits down with the employee another time and gives him feedback and tips on achieving the targets set. Too often, employees complain that they never receive feedback until the next performance appraisal.720 degree appraisal seeks to address these concerns by giving the employees feedback on their performance and help to attain the goals set for them. This paper would deal with the need and dimensions of 720 degree performance appraisal along with its benefits if the companies adopt such a strategy to appraise the performance of their employees.

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Introduction As Organizations evolve and new techniques make work complicated it also becomes necessary to have a complex and integrated appraisal system. As organization grows and become diverse the expectation from each employee becomes high in turn, the employees expectation from the employer also increases. Concept of 720 degree appraisal 720 degree performance appraisal, is the latest appraisal method that has been introduced in New Economy companies. Accurately and objectively measuring the performance of anemployee is the most difficult part of the Performance appraisal process. Different methods are used for Performance appraisal that includes: Critical incident method, weighted checklist method, paired comparison analysis, graphic rating scales, essay evaluation method, behaviorally anchored rating scales, performance ranking method, Management by Objectives (MBO) method, 360 degree performance appraisal method, Forced ranking and Behavioral observation scales. 720 degree performance appraisal is an integrated method of performance appraisal where, the performance of an employee is evaluated from 360degrees (Management, Colleagues, Self and also customers) and timely feedback is given and performance is evaluated again based on the targets that are set. Hence, 720 degree performance appraisal can be stated as twice 360 degree performance appraisal: once when he appraisal is done and the targets are set and he second where the feedback is given and the boss gives tips to achieve the goals. Hence, there is a pre and a post round of feedback. Considered as all round appraisal, the 720 degree performance appraisal system givesan employee more than feedback from one person.This appraisal gives the employee a lot of feedback generally from anywhere from 5 to8 people to provide the employee with an all round assessment of his or her on the job performance.720 degree for two round of feedback (a pre and post ) or a feedback approach which isdone again after 9 to 12 months. 720 CONTAINS 1. Key skill / capability type. 2. Skill components/ elements .3. Question number (purely for reference and ease of analysis) 4. Specific feedback question. 5. Tick box and grade box (ideally a, b, c, d or excellent, good, not good, poor or rate out of 5 to 10.) 720 degree performance evaluation 1. The 720 degree review starts with a review of the leaders contribution to the business,competence and other factors. 2. Next, major customer are identified and representatives asked to be part of the review. 3. After programmer training , the 720 degree services provider, interviews the customer todetermine the quality of the relationship with the executive. 4. All internal and external input is complied , analyzed and presented to the executive. 5. The executive , with support from the 720 degree service provider , develops measurablegoals and a detailed action plan to make changes. The main need of 720-degree performance appraisal is the improvement of the performance of the people in their jobs and to ensure that the expectations of the employer, employee and the customers are met.

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The main need of 720-degree performance appraisal can be summarized as follows: 1. 720-degree performance appraisal method is more development focused than performance alone, and supplements training and development functions in a better way. 2. Provide information about the performance ranks. Assist in taking decisions regarding salary fixation, confirmation, promotion, transfer and demotion. 3. Provide timely feedback about the performance, set targets and monitor the performance based on the targets set. 4. Helps to check the effectiveness of personnel procedures and practice i.e validation. 5. It is needed to ensure that employees reach organizational standards and objectives. 6. To discover the work potential and to understand the areas where training is required to guide the employees to perform their best. 7. To understand the expectations of the employees and prevent grievances and in disciplinary activities. 8. Provide information to diagnose deficiency in the employee regarding skill, knowledge, determine training, and prescribe the means for employee growth and information for correcting placement. 9. Set realistic target, monitor the performance and provide timely feedback to ensure that the performance is enhanced. 10. These critical competencies are essential to assist the executives and managers to be able to lead these organizations toward successful implementation of strategic changes. DIMENSIONS OF 720-DEGREE PERFORMANCE APPRAISAL All the current IT organizations aim at achieving higher rate of employee satisfaction and transparency in the working environment. In order to achieve the above goals,720 degree performance appraisal would be a vital tool as it is used to appraise the performance of an employee from different dimensions and helps to overcome the barriers of bias, prejudice and discrimination. The performance is appraised from 5dimensions and feedback or the appraisal meeting is conducted twice (pre and post feedback) to ensure the efficient performance of the employee. Including the pre and the post feedback, that plays a vital role, the 720 Degree performance appraisal has 7phases. 1. PRE -APPRAISAL FEEDBACK This is the first appraisal step that is done after the feedback is collected from the different dimensions or people with whom the employee would interact. In this step, the performance is evaluated, targets are set and feedback or training is organized to help the employee achieve the target. 2. SELF APPRAISAL The employee is given a questionnaire and asked to evaluate his performance and through this method, the employee gets an opportunity to express his thoughts and his valuation of strengths, weakness and judge his performance) 3. PEERS / COLLEAGUES APPRAISAL The feedback from the peers or colleagues is important as it helps to understand the ability of the employee to work as a team, cooperate, co-ordinate with others and bring out the best. 4. CUSTOMER APPRAISAL In order to survive in the current competitive market, Organizations aim at achieving high customer satisfaction. Customer feedback helps to analyze the customer point of view and help to improve the person and the Organization

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5. SUB-ORDINATES APPRAISAL The feedback of the sub-ordinates is essential to analyze the organizing skills of the employee and to understand his abilities like communication and motivating abilities, ability to delegate the work, leadership qualities and way of handling responsibilities.

6. MANAGERS/ SUPERIORS APPRAISAL In this, the performance, responsibilities and the attitude of the employee is evaluated by the Superiors or Managers. 7. POST -APPRAISAL FEEDBACK It is this step that makes the 720-degree performance appraisal different and better than the360-degree performance appraisal method. In this step, the performance is evaluated based on the target set in the Pre appraisal and feedback is given. Timely feedback and guidance helps to make the employee improve his performance BENEFITS OF 720-DEGREE PERFORMANCE APPRAISAL 720 Degree performance appraisal will help in creating a synergetic work environment and will help to bring out the best of each employee. The other benefits of the 720 degree performance appraisal are as follows 1. It helps in better analysis and improved feedback from different dimensions 2. Helps to develop a better and co-operative team 3. Reduces the appraisal barriers like prejudice, bias and discrimination 4. Customer feedback is valued do better customer service and satisfaction can be obtained 5. Encourages transparency and feeling of treated justly CONCLUSION The common answer (appraisers or employee) about the need for appraisal is that the Appraisal process is necessary. The most important purpose or goal of the appraisal is To improve performance in the future. Hence it is necessary to have a proper organized and well recorded method for performance appraisal so that the appraiser and the appraised will have a synergetic environment. 720Degree performance appraisal is a method that gives paramount importance to feedback as there is a pre and post feedback session. The pre and post feedback session is a process that helps the appraiser and the appraised equally. The 720 Degree performance appraisal method as an objective method that cannot be influenced by personal bias and a method that suits the new economy companies as it gives feedback and follows up to ensure that the appraised reach the goal.

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PSYCHOLOGICAL STRESS AND JOB SATISFACTION AMONG PSYCHOTRIC NURSES AND OTHER SPECIALTIES IN HEALTHCARE A LITERATURE REVIEW
Dr. P. THIRUMOORTHI, Assistant Professor, Periyar Institute of Management Studies, Periyar University, Salem 636 011. G.VENKATESAN, Full-Time research Scholar, Periyar Institute of Management Studies, Periyar University, Salem 636 011. ABSTRACT Nursing has been identified by a number of studies as a stressful occupation. Stress has a cost for individuals in terms of health, well-being and job dissatisfaction, as well as for organizations in terms of absenteeism and turnover, which in turn may impact upon the quality of patient care. Research studies on stress in nursing have identified a variety of stressors that depend upon the clinical speciality. However, some common stressors across nursing specialities include poor working relationships between nurses and doctors and other health care professionals, demanding communication and relationships with patients and relatives, emergency cases, high workload, understaffing and lack of support or positive feedback from senior nursing staff. Most studies on stress and job satisfaction in nursing have focused on general nursing specialities, and relatively little attention has been paid to nurses working in psychiatric units. A better understanding of these factors in mental health nursing may allow identification of strategies to improve the working conditions for these nurses with resulting benefits for the quality of nursing care. Key words: Healthcare in India, Occupational stress, Psychiatric nurses, other specialities, Job satisfaction INTRODUCTION: There is a nationwide outbreak among nurses who leave their profession because they report feelings of collapse and say they are unable to deliver quality care to patients. Burnout is the term often used, and the concept of burnout has attracted considerable attention in the field of nursing. Maslach, one of the first researchers to begin investigating burnout, described it as a syndrome of emotional exhaustion, depersonalization, and reduced personal accomplishment that can occur among individuals who work with people in some capacity (Maslach, Jackson, & Leiter, 1996,p. 4). Individuals working in the human service professions are particularly at risk for developing burnout as a result of an emotionally exhausting occupation (Maslach, 1982). The nursing profession is a highly stressful occupation and when an individual experiences stress over an extended period of time in combination with ineffective coping, it can also lead to burnout (Maslach & Leiter,1997). Work-related stress is a prevalent problem (Stanks, 2005) and has been shown to be costly to both individuals and organizations. Related personal dysfunctions include physical exhaustion, insomnia, substance abuse, and interpersonal problems (Baba, Galperin, & Lituchy, 1999; Farrington, 1995). Greater organizational expenditures are attributed to increased absenteeism, tardiness, staff turnover, low morale, decreased productivity, job dissatisfaction, and court-ordered compensation (Firth & Britton, 1989; Wheeler & Riding, 1994). Moreover, studies have demonstrated that burnout can endanger the professionals ability to provide high-quality care to patients (Coffee, 1999; Fagin et al., 1996; Jenkins & Elliott, 2004; Kilfedder, Power, & Wells, 2001).

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HEALTHCARE IN INDIA Healthcare is one of Indias largest sectors, in terms of revenue and employment, and the sector is expanding rapidly. During the 1990s, Indian healthcare grew at a compound annual rate of 16%. Today the total value of the sector is more than $34 billion. This translates to $34 per capita, or roughly 6% of GDP. By 2012, Indias healthcare sector is projected to grow to nearly $40 billion. The private sector accounts for more than 80% of total healthcare spending in India. Unless there is a decline in the combined federal and state government deficit, which currently stands at roughly 9%, the opportunity for significantly higher public health spending will be limited. OCCUPATIONAL STRESSORS FOR PSYCHIATRIC NURSES Psychiatric nurses, also commonly known as mental health nurses (MHNs), have undergone specialized training and work in a variety of settings, including community, forensic, long term, and hospital. They frequently care for patients with an array of psychiatric and psychological illnesses, including depression, anxiety, bipolar disorder, antisocial and borderline personality disorder, and disturbances of thought and perception (such as hallucinations and delusions). As previously mentioned, the nursing profession is a highly stressful occupation, and MHNs share many of the stressors that affect general nurses (Sutherland & Cooper,1990), but it is important to point out MHNs are subjected to additional stressors. For instance, violent incidents were found to be one of the most frequently reported work related stressors. Studies have shown that up to 70% of psychiatric personnel experience some kind of violence at work each year (Love & Hunter, 1996; McKay, 1994; Nolan, Dallender, Soares, Thomsen, & Arnetz, 1999; Soares, Lawoko, & Nolan, 2000). Other stressors frequently encountered by psychiatric nurses include inadequate preparation, potential suicides, physically threatening patients, difficult or demanding patients, verbal abuse, and inadequate staffing in potentially dangerous situations (Cushway, Tyler, & Nolan, 1996; Fagin et al., 1996; Jenkins & Elliott, 2004; Pinikahana & Happell, 2004; Sullivan, 1993). In addition to being exposed to many of the stressors common to nurses working in the field of psychiatry, psychiatric nurses working specifically on locked units are subjected to additional stress related to high patient-acuity levels. Specifically, patients requiring placement into this unique type of secure environment are often involuntarily committed as a consequence of a severe mental illness and can be extremely aggressive, violent, and unpredictable and can be a danger to themselves or others. Several research studies have indicated numerous factors affecting the stress and burnout of nursing staff. Factors include patient aggression, perceived threats of physical violence, actual physical violence, dementia, and taking care of clients with disabilities (Barling & Boswell, 1995; Barling, Kelloway, & Frone, 2005; Caldwell, 1992; Chappell & Di Martino, 2000). PSYCHOLOGICAL SPECIALITIES STRESS IN PSYCHIATRIC NURSES AND OTHER

Research studies show that nurses perceive various type of stressors depending on their speciality and characteristics of the ward (or) work environment. In general, studies on stress in psychiatric nursing take one of two approaches: there are those that compare psychiatric nurses with nurses in other nursing specialities. Studies comparing psychiatric nurses with other nurse specialities have found that psychiatric nurses less stressed than other specialities. However, most stressors identified are common to both psychiatric and other

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nurses, and stress seems to arise from the overall complexity of nurses work, rather than specific tasks required within hospital settings. Some researchers identified significantly lower levels of burnout in psychiatric nurses compared with other nurses. They suggest that this is so because psychiatric nurses have the opportunity to express their opinion in a multidisciplinary team whereas general nurses have fewer opportunities to do this. Thus, this aspect of their work appears to psychiatric nurses from the levels of stress and burnout experienced by general nursing counterparts. There is considerable research on stress in general nursing; however, compared to other clinical specialities, relatively little attention has been a paid to mental health nurse. A previous research review of factors influencing stress in psychiatric units, carried out by the authors, revealed that poor professional relationships have been identified as a frequent stressor for mental health nurses working in hospitals. Problems in professional relationships are manifest in the lack of collaboration between doctors and mental health nurses, conflicts between nurses, and lack of doctors respect for nurses opinions and their participation in decision making about patients care. Mental health nurses are also stressed by difficulties in relationships and conflicts with other staff nurses they work with. From the studies discussed in a previous research review, the authors concluded that there is a negative relationship between stress and good professional relationships between nurses and mental health nurses. Thus, nurses and those with high stress will have poor relationships with colleagues. JOB SATISFACTION IN PSYCHIATRIC NURSES Studies of job satisfaction carried out in general nursing settings have found a diversity of factors which influence job satisfaction. Thus, there is little consensus between studies. More recent studies support conclusion that when the same variables are tested in more than one study different influencing variables are identified in each one. With regard to mental health nurses, relatively few studies have examined influences on job satisfaction. Most of the studies have sought to describe the negative relationship between stress and job satisfaction rather than identify specific factors which have an impact on it. Other studies have examined the relationship between intra-role conflict and job satisfaction in psychiatric units, job satisfaction of psychiatric aids nurse/physicians collaboration and its relationship to nurses stress and job satisfaction, psychiatric nurses job satisfaction after closure of a custodial psychiatric hospital, have compared ward based and community psychiatric nurses job satisfaction and finally, Farrell and Dares examined the level as well as the factors influencing job satisfaction. CONCLUSIONS From this review we concluded that there is a negative relationship between stress and good professional relationships between nurses and doctors, and also amongst mental health nurses. Thus, nurses who have low levels of stress will have collaborative relationships with doctors and other nurses, and those with high stress scores will have poor relationships with colleagues. Stress and clinical leadership of ward line managers have not been examined specifically in relation to each other in previous studies, but clinical leadership has been found to be a major influence on the stress of mental health nurses. For nurses to perform their jobs safely and proficiently, hospital and nursing administrators should create interventions to decrease nurses stressors. Guidance, emotional support and tangible assistance, as well as various types of social support, are needed so that nurses are able to balance their professional with their personal lives.

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REFERENCES 1. Dawkins, J. E., Depp, F. C., & Selzer, N. E. (1985). Stress and the psychiatric nurse. Journal of Psychosocial Nursing, 23, 9-15. 2. Edwards, D., Burnard, P., Coyle, D., Fothergill A., & Hannigan, B. (2000). Stressors, moderators and stress outcomes: Findings from the all-Wales community mental health nurse study. Journal of Psychiatric and Mental Health Nursing, 7, 529-537. 3. Fagin, L., Brown, D., Bartlett, H., Leary, J., & Carson, J. (1995). The Claybury community psychiatric nurse stress study: Is it more stressful to work in a hospital or the community? Journal of Advanced Nursing, 22, 347-358. 4. Hannigan, B., Edwards, D., Coyle, D., Fothergill, A., & Burnard, P. (2000). Burnout in Community mental health nurses: Findings from the all-Wales stress study. Journal of Psychiatric and Mental Health Nursing, 7, 127-134. 5. Happell, B., Pinikahana, J., & Martin, T. (2003). Stress and burnout in forensic psychiatric nursing. Stress and Health, 19, 63-68. 6. Kilfedder, C. J., Power, K. G., & Wells, T. J. (2001). Burnout in psychiatric nursing. Journal of Advanced Nursing, 34(3), 383-396. 7. Kipping, C. J. (2000). Stress in mental health nursing. International Journal of Nursing Studies, 37, 207-218. 8. Stamps, P.L., Piedmont, E.B., Slavitt, D.B, and Haase, A.M. Measurement of work satisfaction amongst health professionals. Medical Care 1978, 16 (4), 337-52.

OCCUPATIONAL SAFETY AND HEALTH

D.GOPINATH, RESEARCH SCHOLAR, American College, Madurai Introduction Occupational safety and health (OSH) is a cross-disciplinary area concerned with protecting the safety, health and welfare of people engaged in work or employment. The goals of occupational safety and health programs include to foster a safe and healthy work environment. OSH may also protect co-workers, family members, employers, customers, and many others who might be affected by the workplace environment. Occupational safety and health can be important for moral, legal, and financial reasons. Moral obligations would involve the protection of employee's lives and health. Legal reasons for OSH practices relate to the preventative, punitive and compensatory effects of laws that protect worker's safety and health. OSH can also reduce employee injury and illness related costs, including medical care, sick leave and disability benefit costs. OSH may involve interactions among many subject areas, including occupational medicine, occupational hygiene, public health, safety engineering, industrial engineering, chemistry, health physics, ergonomics and occupational health psychology. "Occupational health should aim at: the promotion and maintenance of the highest degree of physical, mental and social well-being of workers in all occupations; the prevention amongst workers of departures from health caused by their working conditions; the protection of workers in their employment from risks resulting from factors adverse to health; the placing and maintenance of the worker in an occupational environment adapted to his physiological and psychological capabilities; and, to summarize, the adaptation of work to man and of each man to his job.

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"The main focus in occupational health is on three different objectives: (i) the maintenance and promotion of workers health and working capacity; (ii) the improvement of working environment and work to become conducive to safety and health and (iii) development of work organizations and working cultures in a direction which supports health and safety at work and in doing so also promotes a positive social climate and smooth operation and may enhance productivity of the undertakings. The concept of working culture is intended in this context to mean a reflection of the essential value systems adopted by the undertaking concerned. Such a culture is reflected in practice in the managerial systems, personnel policy, principles for participation, training policies and quality management of the undertaking." Workplace hazards Physical and mechanical hazards At-risk workers without appropriate safety equipment Physical hazards are a common source of injuries in many industries. They are perhaps unavoidable in many industries such as construction and mining, but over time people have developed safety methods and procedures to manage the risks of physical danger in the workplace. Falls are a common cause of occupational injuries and fatalities, especially in construction, extraction, transportation, healthcare, and building cleaning and maintenance. Machines are commonplace in many industries, including manufacturing, mining, construction and agriculture, and can be dangerous to workers. Many machines involve moving parts, sharp edges, hot surfaces and other hazards with the potential to crush, burn, cut, shear, stab or otherwise strike or wound workers if used unsafely. Various safety measures exist to minimize these hazards, including lockout-tagout procedures for machine maintenance and roll over protection systems for vehicles. Confined spaces also present a work hazard. The National Institute of Occupational Safety and Health defines "confined space" as having limited openings for entry and exit and unfavorable natural ventilation, and which is not intended for continuous employee occupancy. These kind of spaces can include storage tanks, ship compartments, sewers, and pipelines. Confined spaces can pose a hazard not just to workers, but also to people who try to rescue them. Noise also presents a fairly common workplace hazard: occupational hearing loss is the most common work-related injury in the United States, with 22 million workers exposed to hazardous noise levels at work and an estimated $242 million spent annually on worker's compensation for hearing loss disability. Noise is not the only source of occupational hearing loss; exposure to chemicals such as aromatic solvents and metals including lead, arsenic, and mercury can also cause hearing loss. Temperature extremes can also pose a danger to workers. Heat stress can cause heat stroke, exhaustion, cramps, and rashes. Heat can also fog up safety glasses or cause sweaty palms or dizziness, all of which increase the risk of other injuries. Workers near hot surfaces or steam also are at risk for burns. Dehydration may also result from overexposure to heat. Cold stress also poses a danger to many workers. Overexposure to cold conditions or extreme cold can lead to hypothermia, frostbite, trench foot, or chilblains.

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Electricity poses a danger to many workers. Electrical injuries can be divided into four types: fatal electrocution, electric shock, burns, and falls caused by contact with electric energy. Vibrating machinery, lighting, and air pressure can also cause work-related illness and injury. Asphyxiation is another potential work hazard in certain situations. Musculoskeletal disorders are avoided by the employment of good ergonomic design and the reduction of repeated strenuous movements or lifts Occupational health Working conditions and the nature of employment tend to have major repercussions on the health of a workman. The concept of Occupational health has evolved from work-related ailments. Occupational health broadly means any injury, impairment or disease affecting a worker or employee during his course of employment. Further, it not only deals with workrelated disorders but also encompasses all factors that affect community health within it. The inadequate surveillance of employees is the most important reason for increased prevalence of work related and other non-communicable life style diseases at work place. Since seventy-five percent of the global workforce lives in the third world countries, more than 125 million workers are victims of occupational accidents and diseases every year. With the changing job patterns, working relationships, the rise in self-employment, outsourcing of work, etc. there has been a problem in the management of occupational safety and health risks. Nevertheless particular attention needs to be paid to the health and safety of workers in hazardous occupations and especially the migrant workers and other vulnerable persons. Work related hazards and occupational diseases in small-scale industries and agriculture are likely to increase as the occupational safety and health services are out of reach in these occupations. However, with increasing Public Interest Litigations (PILs), Proactive legislations and continual struggle by environmental activists, the awareness with respect to occupational health concerns are gaining more ground. Occupational health Laws The Factories Act, 1948, the Mines Act, 1952, The Dock Workers (Safety, Health & Welfare) Act, 1986 are some of the laws, which contain provisions regulating the health of workers in an establishment. Whereas the Employees State Insurance Act, 1948 and the Workmens Compensation Act, 1923 are compensatory in nature. Health Provisions under the Factories Act, 1948 The Factories Act, 1948 was enacted with the object of protecting workers from subjecting to unduly long hours of bodily strain or manual labour. It lays down that employees should work in healthy and sanitary conditions so far as the manufacturing will allow and that precautions should be taken for their safety and for the prevention of accidents. The Act defines a worker as any person employed directly or through any agency (including a contractor), whether for remuneration or not in any manufacturing process or in any work incidental to or connected with the manufacturing process. It is required that work performed should be connected with the product which is produced in the manufacturing process. Section 10 of the Act lays down that a State Government may appoint qualified medical practitioners as certifying surgeons to discharge the following duties:

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a) Examination and certification of young persons and examination of persons engaged in hazardous occupation. b) Exercising medical supervision where the substances used or new manufacturing processes adopted may result in a likelihood of injury to the workers. c) Exercising medical supervision in case of young persons to be employed in work likely to cause injury. Chapter IX of the Act lays down in detail the provisions relating to the health, safety and welfare measures, namely, cleanliness, level of ventilation, diversion of dust and fumes, provision of artificial humidification, sanitation, fencing of machinery, among others. There are also provisions that prohibit women n\and children from working in certain occupations. 27 processes and operations have been identified as dangerous in The Maharashtra Factories Rules, 1963. These Rules lay down detailed instructions regarding programme: NATIONAL PROGRAMME FOR CONTROL & TREATMENT OF OCCUPATIONAL DISEASES Burden of Occupational Disease in Injuries There are 100 million occupational injuries causing 0.1 million deaths in the world according to WHO. It is also estimated that in India 17 million occupational non-fatal injuries (17% of the world) and 45,000 fatal injuries (45% of the total deaths due to occupational injuries in world) occur each year. Out of 11 million cases of occupational diseases in the world 1.9 million cases (17%) are contributed by India and out of 0.7 million deaths in the world 0.12 (17%) is contributed by India. The adverse occupational factors have been estimated to cost 2-14% of the gross national products for various countries. As the incidence of occupational related morbidity and mortality is very high in India it is to false to say that out of total of one million crore of rupee of GNP in the year 1999, occupational diseases has caused a loss of around 70,000 crore. The amount paid as compensation for death and disablement resulting from work related injuries in India has increased from mere Rs. 8 million in 1961 to 186 million in 1997. Major Occupational Illness National Institute of Occupational Safety & Health (NIOSH) has developed a priority list of 10 leading work-related illnesses and injuries. Three criteria were used to develop the list: a) the frequency of occurrence of the illness or injury, b) its severity in individual cases, and c) its potential for prevention. Occupational lung disease is first on the list. Silicosis, asbestosis and byssinosis are still prevalent in many parts of the world. The prevalence of Occupational Asthma varies from 10% to nearly all of the workers in certain high-risk occupations. NISOH considers occupational cancer to be the second leading work-related disease, followed by cardio-vascular diseases, disorder of reproduction, neurotoxicity, noise induced hearing loss, dermatological conditions, and psychological disorders. Major occupational diseases can be divided in following categories for better understanding: 1. Occupational injuries 2. Occupational lung diseases 3. Occupational cancers 4. Occupational Infections 5. Occupation toxicology

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6. 7.

Occupational mental disorders Others

In India, prevalence of silicosis was 6.2 34 % in mica miners, 4.1 % in manganese miners, 30.4% in lead and zinc miners, 9.3% in deep and surface coal miners, 27.2% in iron foundry workers, and 54.6% in slate-pencil workers. Prevalence of Asbestosis was extended from 3% in Asbestos miners to 21% in mill workers. In textile workers the Bysinosis was as common as 28-47%. Nutritional status in terms of body mass indices (BMI) of the workers is also significantly low. Global Strategy for Occupational Health The global strategy for achieving occupational health for all (WHO-SEARO 1999) includes the following ten major areas for action: 1. Strengthening of International and national policies for health at work and development of policy tools. 2. Developing healthy work environments. 3. Developing healthy work practices and promoting health at work. 4. Strengthening occupational health services. 5. Establishing support services for occupational health. 6. Developing occupational health standards based on scientific risk assessment. 7. Developing human resources for occupational health. 8. Establishing registration and data system including development of information services for experts, effective transmission of data, and raising pubic awareness through strengthened public information system. 9. Strengthening research. 10. Developing collaboration in occupational health services and organizations. Safety issues are an important topic in today's workplace, especially with the rise in accidents in places of work and business. Accidents may often be small, but they can also lead to life-altering results such as mutilation and even death. The most common type of safety issue in workplaces relates to tripping and falling, however, there are many other causes to be considered. An organization with a superior policy for dealing with safety issues should be considering topics such as ergonomics and the arrangement of the space so that the tasks best fit the people who complete them. The following are the primary safety issues and how an organization can best prevent them: General Safety Issue Practices 1. Guard or tape any furniture corners or edges that is sharp. Any "pull out" keyboard or writing drawers should be pushed back in when not being used. 2. Keep the work environment clean. Throw away trash and empty the cans often, and keep floors free of obstacles and unnecessary items. 3. Spills should be cleaned immediately to avoid slips. 4. Immediately report any defects in the workspace such as loose tiles, broken railings, broken doors, broken steps etc. 5. Refrain from participating in any form of horseplay. 6. Keep sharp objects such as scissors, tacks, and razor blades in closed containers. 7. Use the right tool for the job.

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8. 9. 10. 11. 12. 13.

Any neckties, long hair, jewelry, and other loose clothing should be kept well clear of any moving machinery parts. Air vents and air registered should be kept unobstructed. Furniture, equipment, or other materials should not be positioned in a way that they obstruct air movement or thermostats. Any pest control related problems should be reported immediately. Pest control chemicals should be used only by experts. The most important way to prevent safety issues in the workplace is to use common sense at all times.

Conclusion Occupational safety act was passed to implement a national policy under the appointment of an apex commission. This commission formulates comprehensive standards on occupational health and safety. Promotes the workers, public and medical professionals to participate in the occupational health and safety programmes. Promotes awareness about occupational health & safety among students at school & college levels. Carryout training programmes for persons in the industry. It promotes research & compile statistics. It provides a model occupational health and safety policy for organization. It develops an audit mechanism for assessing the effectiveness of the policy. Bibliography http://labour.nic.in/annrep/annrep0506/english/Chapter13.pdf http://www.who.int/topics/occupational_health/en/ C.B. Gupta, Human Resource Management, Sultan Chand & Sons., 2005 P.C. Tripathi, Personnel Management & Industrial Relations. K. Aswathappa, Human Resource Management.

CONSUMER BEHAVIOUR ON MALLS IN CHENNAI CITY

Dr. N.CHITHRA., Assistant Professor Anna Adarsh College For Women, INTRODUCTION India has witnessed frenetic pace of retail development over the past five years. While local shopping centers have always existed in India, their structure ambience and method of doing business served the needs of the local population. The pace of change in retail developments has triggered a frantic pace in the development of malls. A number of factors such as income growth, changing demographic profile and socio- economic environment have driven this have driven this transformation in retail in India. Goldman Sachs has estimated that the Indian economic growth could actually exceed that of China by the year 2015, It is believed that the country has the potential to deliver the fastest growth over the next 50 years. Keeping in mind the rates of growth predicted for India and China, the balance of economic power is poised to tip in favor of two of the worlds largest populations over the next fifty years. The Global Retail Development Index developed by AT Kearney has ranked India first, among the top 30 emerging markets in the world. Formats new to the Indian marketplace have emerged rapidly over the past five years. There is a little doubt that retail in India is revving up for an exciting phase ahead. Development in retail formats and patterns of shopping have always been influenced by mobility and the

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lifestyles of the consumer. Typically, the development of shopping centers has followed a pattern, which has always synchronized with the development of the retail sector in that economy and the needs and the wants of the consumers. This case study examines the rapid growth of malls in India and the challenges faced by the mall developers. This primary aim is to examine the feasibility and sustainability. Mall development in India It would be perhaps incorrect to say that shopping malls have come into existence in India in the recent pass. While they have always existed in the local and regional markets, the manner in which they now present themselves to the end consumers has changed. Spencer Plaza is Chennai and Crossroads in Mumbai are considered to have pioneered the shopping mall and shop entrainment revolution in India. The pace of developments is rapid. It is estimated that mall development would spread across 60 cities in he country by the end of the decade. The West and North of India are estimated to witness the highest rate of mall development in India. While the NCR has witnessed rapid developments in retail developments all developments have not necessarily been successful. In many cases the supply of retail space has far exceeded the demand of retail space. The tenants in malls in India are also faced with high lease rentals and the payment of high costs towards Common Area Maintenance which eventually affect the retailers profitability. Characteristics of a shopping mall The development of shopping center has to synchronize with retail development in the country. In India while the retail sector may have crossed the initial phase and moved into the second phase of development mall development has moved faster. In most parts of the world entertainment as key components of malls emerged after the decline of department stores, India department stores are skill evolving. Players are still entering the market and that total numbers of players are limited. The keys are also experimenting with the products and services being provided by them. In such a scenario mall developers need to focus to focus on certain key elements of strategy and on where they apprise to be over a period of time. India and its markets are undergoing a sweeping change. This change is not only in the market structures but also in the way goods are being sold. Gone are the times when a customer would have to make good with whatever merchandise was available, the price and the delivery mode prevalent in those times and finally the value for money that he is given. Today markets and their processes are more flexible in all aspects. Be it the supply chain or the point of purchase experience, markets and marketers are deriving sustainable competitive edge based on flexibility. Let us look at the current market position of the Indian malls. The number of shopping malls, which were virtually non-existent in India till five years ago, now stands at about 300. Many more are in the pipeline and will soon be a part of the organized retail segment in our country (India). India is at present a fast growing economy and is attracting considerable amount of interest in its retail sector which is till now still in its nascent stages. Shopping malls are a relatively new phenomenon in India and seem to be linked to the growing middle class and increasing interest in the west.

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In the Western World there have been malls for so long that they have become part of the public's psyche, but in India it's a new concept, so various factors that govern the success of a mall have to be kept in mind. It is in this context that this paper is being presented on the acceptability and adaptability of the shopping mall concept in Indian cities and to the Indian population. BACKGROUND In this changing world the only thing that is constant is change and the best tool we have with us to deal with this change is Flexibility. The winds of liberalization and globalization are creating a fast changing business scenario. As the barriers across the world gradually diminish with a change in the economic and technological scenario, there emerges a need for higher and higher levels of enterprise flexibility to resonate with these environmental changes. Flexibility is the most valuable strategic option in this turbulent environment and proposes a construct of internal and external flexibilities at the operational, structural and strategic levels. The pillars of this flexibility concept are: Agility Resilience Freedom of choice Adaptive ness Openness Responsiveness Customization An important concept is called Enterprise Flexibility, which means creating options at various levels in the enterprise, developing ways and means of change across the range of options and providing freedom of choice to various actors in the enterprise for making this change happen with minimum time and effort. The various types of flexibility within an enterprise include: Strategic flexibility Organizational flexibility Flexibility of various types of systems including financial, information, marketing etc. In the present decade of fast changing environment and uncertain levels of organizational operation, a strategy which can absorb the shocks of change and help the organization to adapt it at all levels i.e. from strategy to operations will be successful. The change in the environment has to be learnt by the organization. It has to unlearn the earlier practices which have become redundant /impediments in moving ahead. Such identified changes are absorbed in the corporate strategy and mix of different functional strategies set accordingly. An enterprise with more options and having systems and processes that can change from one option to another, can easily adapt to the environmental changes. Enterprises that develop an open system will be able to learn about the expected changes in the environment and be proactive in adjusting itself accordingly. Flexibility in an organization should be brought about in the dimensions of strategy, structure, systems and people. In order to generate enterprise flexibility the strategy should be regenerated, organization needs to be restructured, the systems are to be redesigned and the people to be reawakened so as to recreate the culture and adapt to changes.

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BENEFITS OF THE MALLS The whole retail and merchandizing industry depends on the efficient use of supply chain, pricing and range of products. Single elements alone cannot offer the customer a delightful shopping experience. Small stores cannot offer this experience as many processes are involved; there are high costs of manpower and infrastructure. Large retail formats, owing to their bulk purchases can achieve better economies of scale as compared to a small shop. The shopping malls offer the customers a wider variety of goods, and also provide them with a better display of products. The store design and better display are point of differentiation for the shopping malls. They provide the consumer with a memorable shopping experience. The package offered to the consumer involves environment, service, price and the product. The shopping mall offers the consumer a one stop shop for all his needs. The concept is to be able to satisfy multiple needs of the customer and to provide for all his requirements at one location, under one roof. The malls attract people on the basis of their superior store atmosphere , store activities , shopping experience and better services THREATS SPECIFIC TO INDIA Crowds of people window shopping and long queues are one of the major problems which keep people away from the malls. The stores are often out of stock of the goods that the customer is looking for (as they may be in great demand at that particular point of time) and no information is available on when the stock will come again and also on how soon will it be arriving. Coming to the malls to shop for one or two products as and when the need arises is not feasible. The malls seem restricted to that segment of the people who shop once/twice a month to stock up, either to save time or to avail of better prices. The bad physical infrastructure lack of fast moving roads resulting in traffic jams on the way is something that keeps people restricted to their local shops and stores. Much attention needs to be paid to the customization of the malls to the Indian context and to the needs of the local clientele. Just as when a product is being launched in a new market it needs to be customized to the culture of that particular place and the needs of the people there, similarly the concept of malls when applied to India must be tailor made to adjust to the complexities and diversities of the Indian context. Emphasis must be laid on the following: Retail Image- represents an overall composite of how consumers see and what consumers feel about a given retailer Marketing concept sending the right message to the right audience through the right media adjust the product, price, place, promotion to satisfy the needs and wants of the consumer One possible course of action could be to not market the malls as upscale shopping areas with big brands only but should try and make themselves a part of the peoples daily lives and portray themselves as places where one can buy a wide variety of things under the same roof. Branding would include the logo, the advertising and also the overall store ambience. In branding the malls, they should be shown to imbibe and reflect the values of the local /

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target population. By creating a distinct identity, one that the consumer relates to, the retailer differentiates themselves from the competition and creates a unique position or offer. In one must understand not only the culture but also the ethnic and religious diversity of the place. Both these aspects have a great influence on the consumer behavior. Consumer buying behavior is the manner in which consumers act and react to various situations involving the purchase of a good or service or the acceptance of an idea. Effective retailing requires an appreciation of the buying behavior of consumers. Retailers need to better understand their customers so that they can both respond to as well as anticipate their needs. Consumer behavior isnt constant, but varies not only from country to country and culture to culture but also from region to region. There is such great diversity in customer behavior where even Hyderabad and Bangalore are as different as chalk and cheese. On one side Hyderabad is conservative, male dominated, where customers like loud colors and shop in groups and on the other side Bangalore is modern, where customers want subtle shades and shop on their own. In India the culture is more towards being thrift conscious and wanting value for money. The customer needs to be convinced that the malls are giving him good value for his money. In fact, Kishore Biyani, managing director, Pantaloon Retail has turned the study of community behavior into a fine science through a specialized regional diversity tracking system. He goes personally to people's homes, talks to local community leaders and spends weeks walking streets of bazaars to get a feel of what products should be stacked in a new store. Thus a proper understanding of the consumer behavior is a necessary prerequisite to facilitate a smooth transition of the Indian consumers to the malls. The Indian Consumer has for long relied upon the local store for purchasing their groceries and other daily requirements and are used to having their purchases delivered home. The local store is usually run by someone with whom the consumer is familiar and friendly with; this adds the personal touch to their daily shopping experience. The greatest advantage of the stores is their location, being located within or near the residential area makes it convenient for the residents to shop from them. Another reason is that consumers feel that they can bargain easily with the local shopkeepers which they believe is not possible in the large retail malls. The malls must focus on adapting to the needs of the Indian consumer rather than change their habits. The retail model should be customer-centric. This involves not only adapting the ambience of the malls to make the shopper feel comfortable but also to customize the products being sold to the consumers. They should thus create modified versions of their brand by targeting smaller and more specific market segments. Such stores should first determine the demographics of the local market, identify their needs /preferences and typical behavior and then respond to them. The retailer must focus on the following aspects of his market: Consumer population Consumer requirements Consumer potential Ability to buy and disposable income Willingness to buy - Budget Authority to buy

Not only this, the retailers must also be sensitive to the constantly changing external environment and should respond accordingly.

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The malls must market themselves as offering the customer better quality products and also a greater variety of products to choose from. Further the organized retailers have the advantage of large scale operations. This can be used to eliminate intermediaries and offer better prices to the customers by passing on the middlemens margins to them. The retailers are able to get better bargains with suppliers and manufacturers by offering business scales higher than the local. Thus customization and localization of the malls is the norm of today. It is said that those retail chains are most successful that come and change for a particular city and react to it. CONCLUSION With the increased interest in the Indian retail segment, the malls will soon be able to successfully capture the massive Indian market. This successful adaptation of the western shopping mall concept to the Indian context will not be the end of all problems. As has been observed the changes of yesterday become the norm of today. The next question facing these malls will be, to make the shopping malls a time saving shopping offer for the Indian families. Fast growth, greater income to the middle class, working couples; nuclear families etc are factors that will make the future nuclear families look for ways to save their time and work within their budget while shopping. Thus to adapt to the needs of this new generation of young working couples, the malls would have to look at acquiring some special features. These would involve opening crches for children so that these young and time pressed couples can shop easily and quickly. Also stores must be customized to display their products in a manner that facilitates easy and quick decisions. Such kind of ideas targeted at flexibility must be kept in mind for the future Indian malls.

EMPLOYEE ENGAGEMENT
A.NIXON JESURAJ, Research Scholar, American College, Madurai Introduction Employee engagement, also called worker engagement, is a business management concept. An "engaged employee" is one who is fully involved in, and enthusiastic about their work, and thus will act in a way that furthers their organization's interests. According to Scarlett Surveys, "Employee Engagement is a measurable degree of an employee's positive or negative emotional attachment to their job, colleagues and organization that profoundly influences their willingness to learn and perform at work". Thus engagement is distinctively different from employee satisfaction, motivation and organisational culture. Statement of the Problem In a company employees are working. It is a question mark that all the employee are whole heartedly working in an organization. So many factors influencing the employee to work in the working environment. The productivity of a company will be increase due to performance of the engaged employee. The engaged employees performance differs from an employee who is working ordinarily in terms of monetary benefits, fringe benefits and other benefits. The relationship between lower level and higher level employees and also with the employer also affects the companys productivity.

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Objectives of Employee Engagement Primary Objective 1. To find out the level of employee engagement Secondary Objectives 1. To analyse if employee engagement has an impact on Attrition 2. To find out the relationship between employee engagement and Productivity 3. To analyse the relationship between employee engagement and Absenteeism 4. To find out whether increase in employee engagement has an impact on Employee Satisfaction Elements of Employee Engagement Four things are important when we talk about employee engagement; commitment, motivation, loyalty and trust. Their level determines the quality of engagement of an employee. Each one is briefly discussed in the coming paragraphs. Commitment Commitment means the degree to which individuals associate themselves with the job, the responsibilities and the organisational objectives. Engaged employees are those who are fascinated by their work and committed to face every challenge to attain their goals. They are dependable and highly productive and therefore, are accountable for what they do. Motivation Up till recently it was believed that the biggest motivation is achievement. The reverse is also true, which means achievement results in more motivation. If employees put in their 100 percent efforts to take their organisation to the next level, this attained status motivates them more than anything. Proper rewards and recognitions can further motivate them to achieve more and more for their organisation. Motivation and achievement go hand in hand and act as the burning fuels for the success of any organisation. Loyalty Employees who are actively engaged in their work show more loyalty towards the organisation. The best part is that they need less focus and attention of managers to perform their task as they themselves feel accountable for their job responsibilities and results attained. However, it doesnt take much time for actively engaged employees to turn into disengaged employees if the organisation doesnt have a well established reward system. Recognition is a basic necessity of individuals to remain steered up towards their job. Trust High levels of employee engagement can be fostered only when trust prevails in the organisation from both the sides. As they share strong emotional bond with the organisation, the latter should also show trust in their abilities. Employees must be given autonomy to perform their tasks their way. They should not be restricted to a specific rules and regulations and therefore, should be motivated to experiment to perform their task in a different and innovative manner. All these elements play a vital role in determining the fate of an organisation. Besides this, two-way communication to discuss challenges, potential consequences, vision and values and organisations future should be established. In fact, communication is the backbone of

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any organisation without which it cant survive for long. Having an open conversation with employees can solve the problems that they are facing in executing their job. Apart from this, organisational culture, a well established and duly followed reward system including compensation, benefits, stock exchange options and recognition and personal growth and satisfaction of employees are also important factors in improving the levels of employee engagement. Benefits of an Engaged Workforce An engaged workforce form an emotional connect with the organization that helps them Go the Extra Mile to Achieve Individual and Company Success Innovate at Workplace Attract customers and employees Become Evangelists of the company, its product and processes Infuse energy and positivity at workplace. Measuring Employee Engagement Gallup research consistently confirms that engaged work places compared with least engaged are much more likely to have lower employee turnover, higher than average customer loyalty, above average productivity and earnings. These are all good things that prove that engaging and involving employees make good business sense and building shareholder value. Negative workplace relationships may be a big part of why so many employees are not engaged with their jobs. Step I: Listen The employer must listen to his employees and remember that this is a continuous process. The information employees supply will provide direction . This is the only way to identify their specific concerns. When leaders listen, employees respond by becoming more engaged. This results in increased productivity and employee retention. Engaged employees are much more likely to be satisfied in their positions, remain with the company, be promoted, and strive for higher levels of performance. Step II: Measure current level of employee engagement Employee engagement needs to be measured at regular intervals in order to track its contribution to the success of the organisation. But measuring the engagement (feedback through surveys) without planning how to handle the result can lead employees to disengage. It is therefore not enough to feel the pulsethe action plan is just as essential. Knowing the Degree in which Employees are Engaged Employee engagement satisfaction surveys determine the current level of employee engagement. A well-administered satisfaction survey will let us know at what level of engagement the employees are operating. Customizable employee surveys will provide with a starting point towards the efforts to optimize employee engagement. The key to successful employee satisfaction surveys is to pay close attention to the feedback from the staff. It is important that employee engagement is not viewed as a onetime action. Employee engagement should be a continuous process of measuring, analyzing, defining and implementing. The employee survey is a diagnostic tool of choice in the battle for the hearts of employees. Studies of Gallup, Mercer, Hewitt and Watson Wyatt (consulting companies) asked workers number of questions relating to their job satisfaction. Gallup being one of

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oldest the consulting organisation {in conducting engagement survey} creates a feedback system for employers that would identify and measure elements of worker engagement most tide to the bottom line. Things such as sales, growth, productivity and customer loyalty are all accessed. After Hundreds of focus group and thousands of interviews with employees in a variety of industries, Gallup came up with Q. 12, a twelve-question survey that identifies strong feelings of employee engagement. They have identified questions that most effectively measure the links (the Gallup Q12). 1. 2. 3. 4. Do you know what is expected of you at work? Do you have the materials and equipment you need to do your work right? At work, do you have the opportunity to do what you do best every day? In the last seven days, have you received recognition or praise for doing good work? 5. Does your supervisor, or someone at work, seems to care about you as a person? 6. Is there someone at work who encourages your development? 7. At work, do your opinions seem to count? 8. Does the mission/purpose of your company make you feel your job is important? 9. Are your associates (fellow employees) committed to doing quality work? 10. Do you have a best friend at work? 11. In the last six months, has someone at work talked to you about your progress? 12. In the last year, have you had opportunities at work to learn and grow? The interpretation of the questionnaire and one of the companys engagement level is summarized in the table below. Some of the discussions which come from Gallups questions are: Know what is expected of me at work- employees should know exactly what is expected of them. If expectations are unclear, employees will inevitably face frustration, and will be open for other opportunities where they do know what's expected of them, and where their contributions are measured and recognized. Materials and equipment- Employees need the right tools and equipment to support their skills, experience and talents & perform their jobs at an optimum level. Do what I do best every day - Are your employees cast in the right roles? Knowing the critical demands for every role is a key to ensuring that talents fit those demands. Supervisor/Someone at work cares -Managers must spend most of their time with their most productive talent. Many managers give their greatest degree of attention to employees who are falling behind. Talented, productive people crave time and attention from their managers, and will leave your company if they have a weak relationship (or no relationship) with their manager or supervisor. Co-workers committed to quality.-Many companies arbitrarily put teams together without considering that employees only psychologically commit to teams if they perceive their team members will support their high level of commitment and performance. Talented employees set high standards and depend upon those around them to support their growth toward excellence. Opportunities to learn and grow- The Company should create an environment that encourages employees to drive towards innovation or to create better systems for more productive results. Great managers always ask what skills and knowledge need to

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accompany talent to result in the greatest outcome for each As discussed the Gallup study Q12 is based on positive Psychology and emotions. Having a best friend at work or receiving recognition every week makes you feel cared for and proud respectively. If you want to keep recreating those positive emotions, then you keep coming back to work. Step III: - Identify the problem areas Identify the problem areas to see which are the exact areas, which lead to disengaged employees Step IV: Taking action to improve employee engagement by acting upon the problem areas Nothing is more discouraging to employees than to be asked for their feedback and see no movement toward resolution of their issues. Even the smallest actions taken to address concerns will let the staff know how their input is valued. Feeling valued will boost morale, motivate and encourage future input. Taking action starts with listening to employee feedback and a definitive action plan will need to be put in place finally. Importance of Engagement Engagement is important for managers to cultivate given that disengagement is central to the problem of workers lack of commitment and motivation. Meaningless work is often associated with apathy and detachment from ones works. In such conditions, individuals are thought to be estranged from their selves. Other Research using a different resource of engagement has linked it to such variables as employee turnover, customer satisfaction loyalty, safety and to a lesser degree, productivity and profitability criteria. An organizations capacity to manage employee engagement is closely related to its ability to achieve high performance levels and superior business results. Advantages of Engaged Employees Engaged employees will stay with the company, be an advocate of the company and its products and services, and contribute to bottom line business success. They will normally perform better and are more motivated. There is a significant link between employee engagement and profitability. They form an emotional connection with the company. This impacts their attitude towards the companys clients, and thereby improves customer satisfaction and service levels It builds passion, commitment and alignment with the organizations strategies and goals Increases employees trust in the organization Creates a sense of loyalty in a competitive environment Provides a high-energy working environment Boosts business growth Makes the employees effective brand ambassadors for the company Conclusion A highly engaged employee will consistently deliver beyond expectations. In the workplace research on employee engagement have repeatedly asked employees whether they have the opportunity to do what they do best everyday. While one in five employees strongly agree with their statement. Those work units scoring higher on this perception have substantially

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higher performance .Thus employee engagement is critical to any organization that seeks to retain valued employees. The Watson Wyatt consulting companies has been proved that there is an intrinsic link between employee engagement, customer loyalty, and profitability. As organizations globalize and become more dependent on technology in a virtual working environment, there is a greater need to connect and engage with employees to provide them with an organizational identity. Bibliography http://www.siescoms.edu/images/pdf/reserch/working_papers/employee_engageme nt.pdf http://www.deccanherald.com/content/246182/strategies-employeeengagement.html http://articles.economictimes.indiatimes.com/keyword/employee-engagement C.B. Gupta, Human Resource Management, Sultan Chand & Sons., 2005 P.C. Tripathi, Personnel Management & Industrial Relations. K. Aswathappa, Human Resource Management. HRM Review IUP Publications, December 2009. HRM Review IUP Publications, November 2010.

TRAINING IN ORGANIZATIONS: AN OVERVIEW

ROOHI KURSHEED KHAN. S, Ph. D Scholar, DR. RUPA GUNASEELAN, Associate Professor, Bharathiar School of Management & Entrepreneur Development, Bharathiar University, CBE ABSTRACT: Nearly all employees receive some form of training during their career; individuals rely on training to improve their current skills and to learn new skills. Understanding the phenomenon of employee training and development requires understanding of all the changes that take place as a result of learning. As the generator of new knowledge, employee training and development is placed within a broader strategic context of human resources management, i.e. global organizational management, as a planned staff education and development, both individual and group, with the goal to benefit both the organization and employees. Training can be made effective by assessing the actual need of the organization, in terms of the objective to be achieved. The traditional self assessment approach of the training needs involves the risk of not identifying the actual need. Appropriate training helps in developing an effective training program. It is likely that some organizations attempt to solve their human performance problems through training without determining whether training is the answer to their problems in the first place. The procedures of employee training and development within our organizations are undeveloped. They are mainly performed occasionally, and not connected with organizational strategy, nor do they have some strategic significance. They are mostly enforced when such business problems occur or are perceived that are considered relievable or solvable by organizing a training, course or seminar for some of the employees. Employees view the training as an imposed obligation, rather than a way to maximize their potential and they do not realize that by improving their performances and innovation of their knowledge they may contribute to better business results of the organization they belong to. Unfortunately, top managers do not realize this as well. From their relationship with the employees it is plain to see that the employees are still treated as an expense, rather than an investment worthy of investing.

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Training programs are influenced by a number of factors namely, (i) Management support, (ii) Legitimate training needs, (iii) Effective and experienced trainer, (iv) Learning objectives, (v) Learner ability and motivation, etc. The paper intends to discuss in depth about the various aspects of training so as to improve its effectiveness, future trends and thereby attain various organizational objectives. Key words: Training, need, factors influencing training, training effectiveness. INTRODUCTION Today, the antecedents of employee performance are becoming increasingly complex and demanding. There must be a continuous effort in determining the important factors for effective training. Training is a strategic weapon for organization building where effectiveness and efficiency is optimized at the level of the person, the process and the product. Training is an HR intervention, for this HR intervention to be successful, the top management must believe in human resources (HR) and support it. If not, it will wither away, leaving behind boards of disillusioned people. Hence, training must strengthen as the HR intervention and help in the development and maintenance of human behaviour or performance which is the mission behind the training and development efforts of any organization. DEFINITION Buckley and Caple (1995) defined training as a planned and systematic effort to modify or develop knowledge, skill, and attitude through learning experience, to achieve effective performance in an activity or range of activities. METHODOLOGY: Research type Descriptive research Sources of data- Interview with trainees with open-ended questions focused on recording prevailing practices in the area of training in Coimbatore. Data analysis- Qualitative analysis Sampling method- convenience sampling Sample size- 20 trainees from various industries in Coimbatore. CHRONOLOGY APPROACH The basics of most training programs can be understood in terms of a chronology which includes: v Pre-training environment v Training Need analysis v Training methods v Factors influencing training v Training evaluation v Future trends in training PRE-TRAINING ENVIRONMENT: The pre-training environment is defined as situational or contextual factors which operate as potential influences on employee perceptions and attitudes towards training. The pre-training environment considers - what is going on in the organization, or with respect to the individuals who are going to be in training, that might affect our outcomes?

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TRAINING NEED ANALYSIS: The Training needs assessment is a set of activities designed to collect data about what the organization needs out of the training program. Training need analysis will increase the relevance and effectiveness of training programme. Approaches to training need analysis: There are two main approaches to need analysis they are A. Proactive in training need analysis which will focus on anticipated performance problems in the future. B. Reactive training need analysis which focuses on perceived performance problems found by the organization in the present situation. METHODS OF TRAINING: S.NO 1. METHOD On-the- job training TECHNIQUE Job instruction training Job rotation Apprentice Coaching Mentoring Committee Assignments Lecture Demonstration Conferences Discussion Audio-visual Static media Dynamic media Telecommunication Experiential technique Case study Role play Business games Behaviour modeling In-basket exercise Computer based training CAI(computer assisted training) Internet/intranet Intelligent computer assisted instruction

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Classroom training

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Self-paced

Descriptions for the types are as follows; 1) On the job training (OJT) involves conducting the training at the trainees regular work place. On- the- job training has been defined, comprehensively, as the enhancement of job competence acquisition, involving the actual Work processes and/ or the physical and/ or social work environment (De jong,1997,p.449)

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 Job instruction training Listing each jobs basic tasks, along with key points, in order to provide Step-by-step training for employees. Job rotation- This kind off training involves movement of trainee from one job to another. This helps trainees understanding different functional areas and as well build rapport with a wide range of individuals. Apprenticeship Training- A structured process by which people become skilled workers through a combination of classrooms instruction and on the job training. Coaching- this is a kind of daily training and feedback given to employees by immediate supervisors. In coaching, the supervisors explain things and answers questions and also seek employees feedback. Mentoring- the main objective of mentoring is to help an employee attain psychological maturity and effectiveness and get integrated with the organization. 2) Classroom Training Approaches are those conducted outside of the normal work setting. The environment can be designed and controlled to minimize distractions and create a climate conducive to learning. Lectures this method involves the oral presentation of information by a subjectmatter expert to a group of listeners. It is quick and simple way to provide knowledge to large group of trainees. Demonstrations- it is a visual-display of how to do something or how something works. The levels of involvement of the trainees will enhance the effectiveness of the demonstration method of training. Discussion- This discussion method uses a lecturette to provide trainees with the information that is supported reinforced and expanded on through interactions. Audio-visual media this allows the trainees to be actively engaged in the content and helps them in recall and uses them for future use. Static-media this typically involve fixed illustrations that use both words and images. Dynamic-media- audiocassettes, compacdiscs,(CDs),film,videotape,and videodisc are some dynamic media that are commonly used. Telecommunication- advent of satellite, cable and fibre optic networks has helped in linking several locations for instrumental and conference purposes, which is known as instructional television. These communications help the organizations use them as training vehicles. Experiential technique- experiential learning requires active engagement on the part of the learner. Case-study- a development method in which the manager is presented with a written description of an organizational problem to diagnose and solve. Role-play- a development technique in which teams of managers compete by making computerized decisions regarding realistic but stimulated situation. Business games-training games and simulations are designed to simulate processes, events, and circumstances that occur in the trainees job. Trainees can also develop their skills and discover concepts to improve their performance. Behaviour modeling-in organizations, employees learn all kinds of behaviours (some work related and some not), from observing supervisors, managers, union leaders, and co-workers who serve as role models. Behaviour modeling is widely used for interpersonal skill training. In-basket exercises- in-basket exercise is a type of simulation used in development programmes and assessment centres.In this technique it is used to assess the

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trainees ability to establish priorities, plan, gather relevant information and make decisions. 3) Self paced learning has employees themselves take responsibility for all aspects of learning-trainees master predetermined training content at their own pace without an instructor. CAI(computer assisted training)- Due to increasing demands for more knowledge and skilled employees, coupled with the need to cut costs, have forced HRD departments in the direction of providing training to more employees, at lower costs. This move has made many companies to go for trying out Computer assisted training. Intelligent Tutoring Systems The Intelligent tutoring systems uses artificial intelligence to assist in tutoring or coaching the trainee. It consist of five components i) Domain expert ii) Student Model iii) Training session manager iv) A Scenario generator and v) A User interface. Appropriate Learning Environment

The final influential factor that affects job training is the appropriateness of the learning environment. A classroom needs to be flexible, so it can quickly and easily be rearranged. It needs to be isolated or removed from the workplace, so learners are mentally prepared to separate themselves from normal work activities. Finally, a classroom needs to be effectively lit, ventilated, and arranged to maximize learner comfort and minimize distraction. As seen in the diagram created by N. Smith, there are a variety of room arrangements that are optimal for specific learning objectives and anticipated outcomes. Circle: no definite leader, group and team building, highly conversational, and maximum participation Semi-circle or u-shape: clear leader, demonstrates equality of membership, great for brainstorming, and enhanced visual contact for increased communication Square or rectangle: more formal, possible head of the table syndrome, less participation and communication, less visibility of those in the corner Rows: no flexibility, greater instructor control, limited face-to-face communication, and less discussion Scattered: less formal, more flexible, facilitates smaller group activities for breakaway activities. TRAINING EVALUATION: Kirkpatricks Model of Training Evaluation Organizations spend a huge amount of money for training their employees at various levels and on various competencies, behavioral and technical. Every year new tools are designed to try and cater to individual learning styles and make the training more effective. After all an organization is concerned about its spending and the return on the same!

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Donald Kirkpatrick, professor emeritus, university of Wisconsin began working on evaluating the effectiveness of training very early in his life. His early work on the same was published in the year 1959 in a journal of American Society of Training Directors. He laid out four levels for evaluation of any training. This model is arguably the most widespread for evaluation in use. It is simple, very flexible and complete. The four levels as described by Kirkpatrick are as follows: a) Reaction Reaction implies how favorably the participants have responded to the training. This evaluation is primarily quantitative in nature and is a feedback to the training and the trainer. The most common collection tool is the questionnaire that analyses the content, methodology, facilities and the course content. b) Learning At the level of learning the evaluation is done on the basis of change in the ASK (Attitudes, skills and knowledge) of the trainees. The evaluation involves observation and analysis of the voice, behaviour, text. Other tools used apart from the observation are interviews, surveys, pre and post tests etc. FUTURE TRENDS IN TRAINING: 1. Learning will evolve beyond training. Under the current paradigm, the training instructor is the center of information (typically in a classroom setting) and every worker learns in the same environment. As training evolves, the focus will shift to the employee as the seeker of knowledge, with learning taking place at the moment of need. Employees will draw on many sources for their learning needs. 2. Blended learning will be redefined. Traditionally, blended learning was simply a combination of online training and classroom training. The new definition will involve using a variety of sources, including online training, classroom training, mentoring, communicating with experts, knowledge repositories, etc. 3. Learning will move to the workplace. In the past, training often involved many disruptions of work as employees left their work space or workplace to complete it. The new scope of learning will involve only minimal time away from work combined with work-based learning and support. 4. Learning and e-learning will be less course-centric and more knowledgecentric. Instead of relying on courses alone, training will include multiple sources of knowledge, including experts, virtual communities, live events, webcasts, and information repositories to go alongside of online and classroom courses. 5. Learning strategies will adapt differently to different levels of mastery. A novice and an experienced employee have different learning needs. A novice will need a more structured training format and will benefit from classroom and online learning. An experienced employee, who may even be an expert, will benefit from an informal, on-the-job training, and will use knowledge management, collaboration, and performance support. A learning program needs to be able to accommodate these learners and everyone in between. 6. Web will revolutionize learning. Web will make learning more interactive and personal.

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CONCLUSION: Training is a continuous or never ending process. Since training involves time, effort & money by an organization, so an organization should to be very careful while designing a training program. The objectives & need for training should be clearly identified & the method or type of training should be chosen according to the needs & objectives established. Once this is done accurately, an organization should take a feedback on the training program from the trainees in the form of a structured questionnaire so as to know whether the amount & time invested on training has turned into an investment or it was a total expenditure for an organization. REFERENCES: 1. Antonio Giangrecoa, Antonio Sebastianob and Riccardo Peccei (2009) Trainees reactions to training: an analysis of the factors affecting overall satisfaction with training, The International Journal of Human Resource Management, 20(1), Jan, pp.96111. Dinah Gould, Daniel Kelly, Isabel White, Jayne Chidgey (2004) Training needs analysis. A literature review and reappraisal, International Journal of Nursing Studies, 41, pp. 471486. Hooi Lai Wan (2001) Education and Training in the Auto Manufacturing Industry: a Comparative Analysis between Japan and Malaysia, Human Resources for Health Development Journal (HRDJ), 5(1 3), Jan Dec, pp. 39-46. Margot W. Beukers, (2011) Project Management of Life Science Research Projects: projects characteristics, challenges and training needs, Drug Discovery Today, 16(3/4), Feb 2011, pp. 93-99. Michael J. Brusco, (2008) An exact algorithm for a workforce allocation problem with application to an analysis of cross-training policies, IIE Transactions, 40, pp. 495-508.

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EMPLOYEE ENGAGEMENT - A MODEL BASED STUDY

SAVITHA.V, Head of the Department, Assistant Professor, JANANI.P, Department of Business Studies, Department of Business Management,CMS College of Science and Commerce,Coimbatore. Abstract Employee engagement is a measurable degree of an employee's positive or negative emotional attachment to their job, colleagues and organization that profoundly influences their willingness to learn and perform at work. Using an employee engagement model the concept can be explained in detail describing about the roles played by the antecedents and the corresponding consequences. The paper critically analyses the antecedents of employee engagement namely job characteristics, perceived organizational support, perceived supervisor support, rewards and recognition, procedural justice and distributive justice. The possible consequences of employee engagement namely job satisfaction, organizational commitment, intention to quit, organizational citizenship behavior are described. The evaluation of job engagement and organization engagement is thereby done so as to measure the employee engagement. Finally the paper ends with mentioning the effective strategies for employee engagement.

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Keywords Employee, engagement, job satisfaction, emotional attachment, commitment, antecedents, consequences. Introduction Competitions are one of the important reasons for organizations to grow, survive, sustain and succeed. To cope up with tremendous competitions in business world, organizations today, make sure that the systems or practices in the organizations are effectively strong and tough to be imitated by any other firms, especially the HR practices. HR terms like job satisfaction, an employees attitude towards his job, job involvement, degree of an employees involvement in his job, organizational commitment, emotional attachment of an employee towards his organization have been researched by many HR practitioners to measure the effectiveness of organizations. However, there was yet another factor doubted to exist beyond job satisfaction, job involvement and organizational commitment which determined the organizational efficacy, and termed as employee engagement. Employee Engagement Employee engagement refers to the positive, affective psychological work-related state of mind that leads employees to actively express and invest themselves emotionally, cognitively, and physically in their role performance. Employee engagement is defined as a distinct and unique construct consisting of cognitive, emotional, and behavioural components associated with individual role performance. Employee engagement is inclusive of long-term emotional involvement and is an antecedent to more temporary generalities of employee sentiment, such as job satisfaction and commitment. Engaged employees come to work every day feeling a connection to their organization, have a high level of enthusiasm for their work and consistently produce at high levels. Saks Model of Employee Engagement Saks (2006) surveyed 102 employees in a variety of industries and in one study tested a model of antecedents and consequences of job and organizational engagement. Saks (2006) differentiated job engagement from organization engagement and concluded that organizational engagement is a persons attitude and attachment to his/her company, whereas employee engagement is the degree to which an employee is actually absorbed in the performance of his/her own individual job role. Saks drew from Kahns earlier work and from the burnout literature to pose a model of employee engagement in which the antecedents of engagement are identified as (a) job characteristics, (b) perceived organization support, (c) perceived supervisor support, (d) rewards and recognition, (e) procedural justice, and (f) distributive justice. In this same model, the consequences of employee engagement are identified as job satisfaction, organizational commitment, intention to stay on the job, and organizational citizenship behaviour (Saks, 2006). Objective of the Study The paper describes the Saks employee engagement model which is can be effectively utilized as an HR tool to measure the organizational efficacy.

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Working of the Model The working of the model can be best explained by considering the following pictorial representation of antecedents and consequences of the employee engagement. Saks Model of Employee Engagement Jobs that are high on the core job characteristics such as skill variety, task identity, task significance, autonomy, and feedback provide individuals with the room and incentive to bring more of themselves into their work or to be more engaged. Hence, job characteristics will be positively related to job engagement and organization engagement. People vary in their engagement as a function of their perceptions of the benefits they receive from a role. Furthermore, a sense of return on investments can come from external rewards and recognition in addition to meaningful work. Therefore, one might expect that employees' will be more likely to engage themselves at work to the extent that they perceive a greater amount of rewards and recognition for their role performance. While a lack of rewards and recognition can lead to burnout, appropriate recognition and reward is important for engagement. Rewards and recognition will be positively related to job engagement and organization engagement. Psychological safety involves a sense of being able to show and employ the self without negative consequences. An important aspect of safety stems from the amount of care and support employees' perceive to be provided by their organization as well as by their direct supervisor. Perceived Organizational Support refers to a general belief that one's organization values their contribution and cares about their well-being and creates an obligation on the part of employees to care about the organization's welfare and to help the organization reach its objectives. When employees believe that their organization is concerned about them and cares about their well-being, they are likely to respond by attempting to fulfill their obligations to the organization by becoming more engaged. In addition, because employees tend to view their supervisor's orientation toward them as indicative of the organization's support. Perceived Supervisors Support is also likely to be an important predictor of employee engagement. In fact, a lack of support from supervisors has been found to be an especially important factor linked to stress and burnout. Distributive justice refers to one's perception of the fairness of decision outcomes whereas procedural justice refers to the perceived fairness of the means and processes used to determine the amount and distribution of resources. A review of organizational justice research found that justice perceptions are related to organizational outcomes such as job satisfaction, organizational commitment, organizational citizenship behavior, withdrawal, and performance. When employees have high perceptions of justice in their organization, they are more likely to feel obliged and also be fair in how they perform their roles by giving more of themselves through greater levels of engagement. On the other hand, low perceptions of fairness are likely to cause employees to withdraw and disengage themselves from their work roles. Perceptions of procedural justice and distributive justice will be positively related to job engagement and organization engagement. CONCLUSION According to Saks model, it can be understood that the influence of antecedents of employee engagement decides the employees level of engagement in their work as well as in the organization which can be evaluated from the outcomes. Hence it can be concluded that the model can serve as an effective HR tool to understand how to enhance the work

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efficiency as well as the organizational efficiency simultaneously. Job satisfaction, organizational commitment, job involvement, etc on the one hand proved to be the indicators of employees attitude towards their job and workplace, and on the other hand employee engagement has proved to be an effective indicator of organizational efficiency by portraying the emotional attachment of employees towards their job, colleagues and organization. Bibliography 1. Bakker, A. B., & Demerouti, E. (2007). The job demandsresources model: State of the art. Journal of Managerial Psychology, 22, 309-328. 2. Buckingham, M., & Coffman, C. (1999). First, break all the rules; What the worlds greatest managers do differently. New York: Simon and Schuster. 3. Meere, M. (2005). The high cost of disengaged employees (Employee Engagement Industry Briefing). Hawthorne, Victoria: Swinburne University of Technology. 4. Saks, M. A. (2006). Antecedents and consequences of employee engagement. Journal of Managerial Psychology, 21, 610-619. 5. Schaufeli, W. B., & Salanova, M. (2007). Work engagement: An emerging psychological concept and its implications for organizations. In S. W. Gilliland, D. D. Steiner, & D. P. 6. Wagner, R., & Harter, J. K. (2006). 12: The great elements of managing. Washington, DC: The Gallup Organization.

ROLE OF SELF HELP GROUP IN WOMEN EMPOWERMENT AND POVERTY MITIGATION

DR.J.SENTHILVEL MURUGAN, Faculty- PRIMS, Periyar University, MR.S.BALA MURUGAN. Assistant Professor, RVS Institute of Management Studies, Coimbatore. ABSTRACT: The growing social awareness across the globe has brought a number of issues to the fore among which gender equality and empowerment of women are very significant. Discrimination against women in the form of male-female differentiation constitutes the core of the gender-biased system. The Word Bank has suggested that empowerment of women should be a key aspect of social development programs. The empowerment is not essentially political alone in fact; political empowerment will not succeed in the absence of economic empowerment. The scheme of micro financing through Self Help Groups (SHGs) has transferred the real economic power in the hands of women and has considerably reduced their dependence on men. The empowerment of women and improvement of their status and economic role needs to be integrated into economic development programs, as the development of any country is inseparably linked with the status and development of women. Given the gender division of labour that prevails in India, Nutrition, Child health, and related matters typically depend mostly on womens actions and decisions. Experience has shown that promotion of enterprise creation and income generating activities among women would transform them from being alive to living with dignity. One of the powerful approaches to women empowerment and rural entrepreneurship is the formation of Self Help Groups (SHGs) especially among women. Women being central to the entire development process and at the precursor of social transformation can be demonstrated with many examples that could include Grameen Banks success, SHGs of ICICI Bank, Shakthi

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Ammas at HLL, Cemex, Amul, the success of Avon, Mary Kay, and Tupperware in US and other parts of the world. Key words: Women empowerment, Social development, Self Help Groups, Rural entrepreneurship INTRODUCTION: This paper is divided into two sections. In the first section we shall discuss the concept of Self-Help Groups (SHGs) as an instrument of economic empowerment, its various models and the strength of informal sector over formal sector. In section II Importance of women empowerment through SHGs. Section III we shall conclude with the presentation of strategy of women empowerment by linking benefits extended by the governments to the members of Self-Help Groups (SHGs). Self- help group as an instrument of economic empowerment: Self Help Group (SHG) is a small voluntary association of poor people, preferably from the same socioeconomic background. They come together for the purpose of solving their common problems through self-help and mutual help. The SHG promotes small savings among its members. The savings are kept with a bank. This common fund is in the name of the SHG. Usually, the number of members in one SHG does not exceed twenty. Bank-SHGs linkage models since the introduction of financial sector reforms in 1991 the banks are using these distinct linkage models to finance SHGs. *Model I: - Banks provide micro finance to non-governmental organization (NGOs) for lending to SHGs and ultimately to the micro entrepreneur (It covers about 27% of SHGs) *Model II: - Banks provide direct financing directly to SHGs for on landing to micro entrepreneur (It covers 17%) *Model III: - Banks finance directly to SHGs for on lending to micro entrepreneur with the intervention of NGO as social mobilizers and facilitators (It covers 56% of SHGs). *Model IV: - The fourth model envisages bank loans directly to individual members of SHGs upon recommendations of the SHGs and NGO. In this case, the NGO assists the Bank in monitoring supervising and recovery of loans. Formal & Informal systems traditionally, the formal sector Banking Institution in India have been serving only the needs of the commercial sector and providing loans for middle and upper income group. In India, we have multi-agency rural credit delivery structure comprising commercial Banks, Regional Rural Banks and Cooperative Banks with a large network of more than 1, 60,000 retail credit outlets (One for every 4400 population). Yet reaching the poorest, whose credit requirements are very small, frequent and unpredictable, is still a difficult task and Sahukars (the rural non-formal Money Lenders) continues to be the main agency. Further, the systems and lengthy procedures of the banking institutions with emphasis on complicated qualifying requirements, tangible collateral, margin etc. also kept them away from these formal agencies. Banks too experienced certain problems like poor repayment, lack of supervision and monitoring, high proportion of non performing assets and poor repayment. Since the credit requirements of the rural poor cannot be adopted

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on project lending approach (like in formal organized sector) there emerged the need for an informal credit supply through SHGs. Social intermediation is required for: 1. Organizing rural poor women 2. Educating them 3. Imparting Training and skill Commercial Banks, Housing Finance Institutions, NABARD, and Rural Development Banks, Land Development Banks, Cooperative Banks, are the major formal financial institutions. Urban Cooperative Banks (UCB) Urban Credit Cooperative Societies (UCCS) are the two primary cooperative financial institutions operating in the urban areas. The informal financial sources generally include funds available from family sources or local moneylenders. The local moneylenders charge exorbitant rates of interest due to their informal behavior and absence of any other source of credit for nonconventional needs. Chit funds, Bishis, are other forms of credit operated by groups of people for their mutual benefit. Lately, few of the NGO engaged in the activities related to community mobilization for their socio economic development have initiated savings and credit programmes for their target groups. The community based financial system can be categorized into two models: Group Based Financial Intermediary, and NGO Linked Financial Intermediary Most of the NGOs like SHARAN in Delhi, Federation of Thrift and Credit Association (FTCA) in Hyderabad, or SPARC in Bombay, SEWA in Ahmadabad. The experience of these informal intermediaries shows that although the savings of group members, small in nature do not attract high returns, it is still practiced due to security reasons for getting unsecured loans without much formalities and collaterals at lower rates compared to that available from money lenders. Importance of women empowerment through SHGs: Women are critical for Development: In his book "The Fortune at the bottom of the Pyramid", Prof. C.K.Prahlad comments, "A well-understood but poorly articulated reality of development is the role of women. Women are central to the entire development process. There are also at the vanguard of social transformation. For example, Grameen bank's success is based on lending only to women. The SHGs at ICICI bank are all women, as are the Shakti ammas at HLL. The women are entrepreneurs responsible for saving and accessing credit. In the case of CEMEX, the company works only with women. Amul, a milk cooperative, depends on women for their milk origination in villages. Women also collect the cash for the milk and therefore have achieved a new social status. Access to economic independence can change the long tradition of suppression of women and denial of opportunities. The success of Avon, Mary Kay and Tupperware in US and other parts of the world are also based on the role of women entrepreneurship. When asked with Muhammad Yunus, managing director of Grameen Bank in Bangladesh, a pioneer in the practice of microcredit lending as to why loaned primarily to women, he replied, that "It has to do with the decision to have a separate bank for the poor people. From the beginning, I had complained about the banking system on two grounds. One complaint was that the banking system was denying financial services to the poor people through certain rules it had set up. The second allegation was that the banking system also was not

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treating women fairly. If you look at the gender composition of all the borrowers of all the banks in Bangladesh, not even 1 % of the borrowers happen to be women. I said this is a very gender-biased organization. So when I began, I wanted to make sure half the borrowers in my program are women so that they are even. I did that. It was not easy because women themselves didn't think that they should borrow money. I had to do a lot of convincing. I encouraged them to believe that they can borrow money and make money. Part of that effort was to overcome fears -- cultural fears -- and the fact that they had never had any experience with business and so on. Soon we saw that money going to women brought much more benefit to the family than money going to the men. So we changed our policy and gave a high priority to women. As a result, now 96% of our four million borrowers in Grameen Bank are women". One of the powerful approaches to women empowerment and rural entrepreneurship is the formation of Self Help Groups (SHGs) especially among women. This strategy had fetched noticeable results not only in India and Bangladesh but world over. "Women self-help groups are increasingly being used as tool for various developmental interventions. Credit and its delivery through self-help groups have also been taken as a means for empowerment of rural women. This integrated approach, whereby, credit is only an entry point, and an instrument to operationalise other aspects of group dynamics and management, also caters to the need for social intermediation of these groups. A self-help group is conceived as a sustainable people's institution that provides the poor rural women with space and support necessary for them to take effective steps towards achieving greater control of their lives. The SHG approach has proved successful not only in improving the economic conditions through income generation but in creating awareness about health and hygiene, sanitation and cleanliness, environmental protection, importance of education and better response for development schemes. Through organizing informal self-help groups (SHGs), rural women in India are provided credit and extension support for various production-oriented income generating activities. These activities usually include garment making, embroidery, food processing, bee keeping, basketry, gem cutting, weaving, and knitting. SHGs are selfgoverned, with decisions about production and marketing taken collectively, although the group leader is responsible for identifying potential marketing centers and consumers. These groups represent a new culture in rural development, breaking with traditional bureaucracy and top-down management. Informal groups empower rural women to manage rural industries and make decisions collectively for their common economic interests. Studies on the development of informal women's groups in India, shows how it is possible to avoid the 'top-down management' and bureaucracy that often contribute to the failure of other schemes. Informal self-help groups in rural areas serve to empower women, and provide a basis for the provision of credit and other support for various production and incomegeneration activities. CONCLUSION: The Role of women in the development of society is of utmost importance. In fact, it is the only thing that determines whether a society is strong and harmonious, or otherwise. Women are the backbone of society. The success of any strategy of women empowerment depends upon the following factors: Women are the foundation of any community and if she is empowered, a family, and eventually an entire community are also empowered. IAHV runs programs have succeeded in instilling confidence in women, and drawing them to take on leadership roles in their communities. IAHVs Global Initiative on Womens Empowerment is represented

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below.IAHVs women empowerment programs were piloted in India under the VISTA project started in 1992. Today they have earned international acclaim, and are being run in several countries, including, South Africa, Botswana, Poland, Kosovo, USA, Mexico, Panama, Belize, South America, Iran, Iraq, Afghanistan and Indonesia Empowerment through Vocational Training IAHV runs it Rural Development Program (RDP) to increase skills and capacities of villagers particularly for rural girls and women empowering them to economic self reliance and improved livelihoods. Skills are imparted in tailoring, knitting, block printing, incense stick rolling, candle making, jute and newspaper bags, and domestic workers training. Youth Leadership Training Program Empowerment is not merely something one does, but an attitude. True empowerment expresses itself through the desire and willingness to be an instrument of that transformation in the lives of others as well. Youth Leadership Training Program trains young people to become leaders and effective development agents in their communities. YLTP lays special emphasis on training women Empowerment through Education Since education represents a basic component of human development a critical means of empowerment that brings about the social, economic, and political inclusion of marginalized populations into mainstream society IAHV is committed to make free-of-cost, quality education especially accessible to the poor, providing a joyful and inspiring learning environment to children from urban, rural and tribal areas. In all these schools girls account to more than 50% of the student population Empowerment through Health Initiatives IAHV aims to interrupt the vicious circle of poverty and poor health that affect women the most, by attending to the immediate health needs of societys economically weaker sections through the 5H program. Recently IAHV has also initiated the Health Worker Program (HWP) that targets rural health by involving rural women. HWP aims to revive traditional health practices and ancient Ayurvedic knowledge. Empowerment through Village Processes & Activities: IAHV has developed programs led by rural women that lead to community participation, bringing entire village together. They also run several programs that inspire villagers, particularly women, to come forward and take action. Empowerment through Infrastructure Provision Through its 5H program, using Self Help Groups methodology, IAHV aids in building basic infrastructure that impacts the lives of less fortunate women. These include houses, toilet blocks, schools, community halls and water harvesting structures, all of which instill selfreliance and provide solid foundations to build better future. Empowerment through Political Participation Womens empowerment program also focuses on raising womens awareness around their rights and duties as citizens. IAHV encourages women to become community leaders, to lead by example, to participate in local politics and to even stand for village elections.

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REFERENCES: 1. Jayapalan (2001). Indian society and social institutions. Atlantic Publishers & Distri.. 2. Pruthi, Raj Kumar; Rameshwari Devi and Romila Pruthi (2001). Status and Position of Women: In Ancient, Medieval and Modern India. Vedam books 3. JyotsanaKamat (2006-1)."Status of Women in Medieval Karnataka 4. Report from 2001National Policy for the Empowerment of Women 5. Asia's women in agriculture, environment and rural production: India". 6. Dr. Dasarathi Bhuyan Orissa review January 2006 Empowerment of Indian Women: A Challenge of 21st Century 7. Dr. Rakesh Chandra women empowerment in India-Milestones & challenges

BUDDING TRENDS IN CHANGE MANAGEMENT

Ms.N.KAVITHA M.Com, PGDCA, MBA., M.Phil. Assistant Professor in commerce, PSG College of Arts and Science, Coimbatore- 641 014. Change must involve the people - change must not be imposed upon the people Change management - the systems and tools for managing change Change management Change management is a structured approach to shifting/transitioning individuals, teams, and organizations from a current state to a desired future state. It is an organizational process aimed at helping change stakeholders to accept and embrace changes in their business environment. Kotter defines change management as the utilization of basic structures and tools to control any organizational change effort. Change management's goal is to minimize the change impacts on workers and avoid distractions. Examples of organizational change 1. Mission changes, 2. Strategic changes, 3. Operational changes (including Structural changes), 4. Technological changes, 5. Changing the attitudes and behaviors of personnel As a multidisciplinary practice that has evolved as a result of scholarly research, Organizational Change Management should begin with a systematic diagnosis of the current situation in order to determine both the need for change and the capability to change. The objectives, content, and process of change should all be specified as part of a Change Management plan. Change Management processes may include creative marketing to enable communication between change audiences, as well as deep social understanding about leaderships styles and group dynamics. As a visible track on transformation projects, Organizational Change Management aligns groups expectations, communicates, integrates teams and manages people training. It makes use of performance metrics, such as financial results, operational efficiency, leadership commitment, communication effectiveness, and the perceived need for change to design appropriate strategies, in order to avoid change failures or resolve troubled change projects.

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A change is an event that is approved by management implemented with a minimised and accepted risk to existing IT infrastructure results in a new status of one or more configuration items (CIs) Provides increased value to the business (Increased Revenue, Avoided Cost, or Improved Service) from the use of the new or enhanced IT systems. Change management is responsible for managing change process involving: Hardware Communications equipment and software System software All documentation and procedures associated with the running, support and maintenance of live systems. Any proposed change must be approved in the change management process. While change management makes the process happen, the decision authority is the Change Advisory Board (CAB), which is made up for the most part of people from other functions within the organization. The main activities of the change management are: Filtering changes Managing changes and the change process Chairing the CAB and the CAB/Emergency committee Reviewing and closing of Requests for Change (RFCs) Management reporting and providing management information

Elements of change management Change will continue to be a common element on the landscape for the financial services industry. The benefits of managing change well, coupled with the risks associated with failed change initiatives have caused management teams across the industry to begin addressing more comprehensive structures for change management. While there is no single structure that works best for all organizations, there are common elements which every organization should consider when designing their structure. Strategic Alignment does the process drive decisions and priorities that are consistent with the organizations business strategy? Clarity in authorization and ownership does the process provide a clear understanding of who can authorize what changes? Accountability does the process define who is accountable for the decision as well as the execution of the change initiative? Execution Methodology is there a well defined methodology for change execution? Review and Adjustment does the process require interim and post-completion reviews? Is the process adjusted to take advantage of the learning from these reviews?

Scope of change management The purpose of defining change management areas is to ensure that there is a common understanding among readers. Tools or components of change management include Change management process Readiness assessments

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Communication and communication planning Coaching and manager training for change management Training and employee training development Sponsor activities and sponsor roadmaps Resistance management Data collection, feedback analysis and corrective action Celebrating and recognizing success

Change management process The change management process is the sequence of steps or activities that a change management team or project leader would follow to apply change management to a project or change. Based on Prosci's research of the most effective and commonly applied change, most change management processes contain the following three phases Phase 1 - Preparing for change a) Preparation b) Assessment c) Strategy development Phase 2 - Managing change a) Detailed planning and b) Change management implementation Phase 3 - Reinforcing change a) Data gathering, b) Corrective action and c) Recognition Change management Resource guide RESOURCE Change Management Toolkit: a comprehensive change management process includes specific sections on sizing your change management effort, communication planning, training development, sponsor roadmaps, and reinforcing change. Best Practices in Change Management: many companies share experiences in managing change and lessons on how to build great executive sponsorship. The report makes it easy to learn change management best practices and discover the mistakes to avoid leading change. Change Management: the People Side of Change: introductory guide to change management - an excellent primer and catalyst for change leadership with best practices from WHO IS IT FOR? Change leaders, consultants and change management team members - get templates, assessments, guidelines, examples and worksheets that help you implement organizational change management Change leaders, consultants and change management team members - learn what is working for others, what is not, and what mistakes to avoid - includes team and sponsor activity lists. Includes success factors, methodology, role of top management, communications, team structure and more. Change leaders, executives and managers learn the 'why,' 'how,' and 'what' of change management. "Change Management is like a driving school for change agents." This 'quick

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Prosci's latest research and case studies.

read' includes the ADKAR model and the Prosci change management process. Managers and supervisors - a guide specifically designed for managers and supervisors dealing with change. This tool is ideal for managers who are directly dealing with employees facing change. Use with the Employee's Survival Guide to Change and the Change Management Toolkit.

Change Management Guide for Managers and Supervisors: complete with team and individual coaching activities, best practices findings and frequently asked questions.

Employee's Survival Guide to Change: a Employees facing change - answers handbook to help employees survive and frequently asked questions and empowers thrive during change. employees to be effective change agents with the ADKAR model. Eight steps of change model includes Increase urgency Build the guiding team Get the vision right Communicate for buy-in Empower action Create short-term wins Dont let up Make change stick. The Complexities of Large-Scale Change Large-scale change initiatives include broad-based, complex opportunities such as mergers or acquisitions, entering new or existing business lines, modifying geographical footprint, operational consolidations, or deploying new technology, among others. A review of successful change organizations reveals incorporation of the following primary tenants of change. What & Why choosing initiatives Strategic Alignment Priorities Risk associated with action or inaction Customer Financial Reputation 80% of success is in HOW Execution Results vs. Methods WHO differentiating between impact and drivers Customer Stakeholders Enablers WHEN managing multiple initiatives Simultaneous Overlapping Sequential

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Successful change organizations understand the inter-relationships between the components identified above and how changing one may impact another. A process that leads to well aligned decisions and is flexible enough to meet changing market needs still requires the strong methodology and rigor necessary for successful execution. Obstacles & Failure Points A well defined structure for change initiatives, by itself, will not guarantee success. There are a number of obstacles even in high performing organizations that provide constant challenges. The process must not only be clearly defined, but it must also be practical and reflective of the organizations culture. It must be communicated in a way that is easy for all constituents to understand its intent and required processes. The goals must be clearly linked to the organizations business strategy otherwise, successful change becomes an even larger challenge. Participants in the process will all impact its outcome, either positively or negatively. Associates who do not provide active support or assume responsibility as necessary may delay or derail initiatives in such a way as to avoid immediate detection. Monitoring for active, positive participation and support helps organizations avoid this last obstacle.

Conclusion Successful adaptation to change is as crucial within an organization as its in the natural world. Just like plants and animals, organizations and the individuals in them inevitably encounter changing conditions that they are powerless to control. The moir effectively you deal with change, the more likely you are to thrive. Adaptation might involve establishing a structured methodology for responding to changes in the business environment or establishing coping mechanisms for responding to changes in the workplace. Let there be no surprises. Be constructive. Accentuate the positive. Be straight and open with people.

KNOWLEDGE MANAGEMENT DR. P.RADHA, Associate Professor, RVS Institute of Management Studies, Kumaran Kottam Campus, Kannampalayam, Coimbatore Abstract Knowledge Management is the collection of processes that govern the creation, dissemination, and utilization of knowledge. In one form or another, knowledge management has been around for a very long time. Practitioners have included philosophers, priests, teachers, politicians, scribes, Liberians, etc. So if Knowledge Management is such an ageless and broad topic what role does it serve in Knowledge management is not a, "a technology thing" or a, "computer thing". knowledge management is concerned with the entire process of discovery and creation of knowledge, dissemination of knowledge , and the utilization of knowledge then we are strongly driven to accept that knowledge management is much more than a "technology thing" and that elements of it exist in each of our jobs.

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"Knowledge Management is the discipline of enabling individuals, teams and entire organizations to collectively and systematically create, share and apply knowledge, to better achieve their objectives". Knowledge Management ('KM') comprises a range of practices used by organizations to identify, create, represent, and distribute knowledge. It has been an established discipline since 1995 with a body of university courses and both professional and academic journals dedicated to it. Many large companies have resources dedicated to Knowledge Management, often as a part of 'Information Technology' or 'Human Resource Management' departments. Knowledge Management is a multi-billion dollar worldwide market. The traditional view of knowledge management has treated knowledge in terms of prepackaged or taken-for-granted interpretations of information. However, this static and contextual knowledge works against the generation of multiple and contradictory viewpoints that are necessary for meeting the challenge posed by wicked environments. Need for Knowledge Management Maybe you wish to develop and apply knowledge management strategies to government, military operations, global poverty eradication, international disaster management and even, now, knowledge management for global climate change. The list is endless. Knowledge management is applied today across the world, in all industry sectors, public and private organizations and humanitarian institutions and international charities. Most importantly, effective knowledge management is now recognized to be 'the key driver of new knowledge and new ideas' to the innovation process, to new innovative products, services and solutions. Importance of knowledge management In the current environment of high Competitiveness, globalization, Technological Development, life and reduced productivity is key to global crisis to Achieve Sustainable knowledge management success of the company. In This context is really critical to Develop the business skills to acquire information, transform it Into Knowledge, Incorporated the company as learning to share and Implement it quickly. This is very important Because There Is a Correlation Between business success and knowledge management, knowledge management and Including Adaptability of the company to changing and challenging environment, where Threats Can Be Turned Into Opportunities. Thanks to the companies manage innovation Knowledge, Creating Effective Organizational routines more, business growth, sustainability, adaptive capacity to the environment, and so on. This Provides MOST Successful products, Establishing Effective distribution channels, access to sources of Funding, the support of stockholders, the best team, best customers and suppliers, and so on. Roles and Responsibilities To efficiently and effectively implement a KM Strategy and to perform the new KM processes, some new roles and responsibilities are required. These new roles and responsibilities may be absorbed within existing roles and/or they may be created as separate roles, depending on the scope, size and duration of the KM initiative.

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Some organizations have created dedicated roles, for example, a Chief Knowledge Officer permanently, others have created the role for a few years until KM has become embedded throughout the organization, as part of its culture, and others have chosen not to introduce these new roles and responsibilities at all. The evidence shows that the most admired and successful KM initiatives have been those where these new focused roles and responsibilities are recognized and performed. A knowledge worker is not so much a new role, although it may be for certain organizations, but is considered to be a recognition of a new responsibility for knowledge management and new personal knowledge management skills that all workers are expected to develop. The big downside of this is that there a few people who are deciding or the complete what assets are useful and that you need to have any assets in the first place. The knowledge that wasnt shared in assets or wasnt approved by the knowledge manager simply evaporated and was in best case just not listed in the repository but in worst case the information was lost. If you want to prevent knowledge leaking like I just described it is most likely you will need three components: A repository A social networking platform A social collaboration platform

These three components are tightly linked and enable a continuous process of knowledge recording. There is no small group that is deciding for everybody what is useful. It is everybody that decides what is useful for everybody: in some cases explicitly as in uploading and rating assets in the repository and other cases much more passive by just having a conversation on the social networking platform. The repository is used for storing documents and other assets that are of a persistence nature (most deliverables in a project are of this nature) and often offers a way to rate and review documents. Documents that arent viewed for a long time and/ or with a very low rating will be removed over time to keep the valuable information and to prevent any clutter. The social collaboration platform is used for structured collaboration on deliverables with a team. Input is structured, and changes are tracked on a permanent basis as well as discussions around the deliverables. Deliverables created on this platform can be moved towards the repository if it the result is something that is rather persistent of nature. Overall these three components together facilitate continuous recording of knowledge being shared, plus an overview of all information over time on which decision in the project where based, enabling full traceability. It doesnt depend on the few deciding for everyone what is good for them; it is about everyone who is sharing the information without holding back. Relevance is always in the eye of the beholder. Conclusion The decision on whether or not an organization should outsource a part of their business is a complicated one, and should not be taken lightly. Searching for short-term cost savings is not a bad idea, but choosing outsourcing based solely on cost reduction or tactical problems is a short-term solution and will undermine a company's potential for long term success. The organization should have sufficient management skills and the ability to adapt new behaviors and processes to successfully manage an external part of their business. These skills should include knowledge management abilities and a willingness to apply them to a new and more challenging situation. Tacit knowledge must specifically be considered when

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planning an outsourcing strategy, particularly if the component of the business to be outsourced already exists internally and valuable institutional knowledge will be lost. The transfer of tacit knowledge can have a profound effect on quality and overall strategic business value. Cultural and language barriers add challenges to the already difficult process of transferring tacit knowledge and are of particular concern in cases of cross-border outsourcing. Finally, once a decision has been made to outsource aspects of a business, specific knowledge management strategies can be implemented that will maximize the benefits that are available from a decentralized business model.

A MODEL ON SUCCESSION PLANNING IN ACADEMIA

Mrs. B. LAVANYA, Assistant Professor School of Management Studies Chaitanya Bharathi Institute of Technology Abstract: Identifying, engaging and retaining top performances and high potentials are important for all kinds of Organizations. Planning for the Succession of key executives, managers and other employees is an important part of HR development. Succession Planning is a process of identifying a longer-tem plan for the orderly replacement of key employees. The Organizations that recognize the importance of human resources in efficiently handling its activities adopt method of Succession planning. In sustaining competitive edge, for Educational Institutions too Succession planning is considered as one of the most critical factors. Sound Succession planning helps an Organization to handle disruption that is caused due to cost of hiring and the time consuming process. The absence of Succession Planning in academia may lead to poor Human resources planning. The present study is initiated to propose a model of Succession planning in Academia based on the primary and secondary sources of data. Observation method is used as the primary source, where as books, journals, newspapers, research articles and websites are used as secondary sources. The study of various models of Succession Planning from literature review has laid down a foundation for the Analysis, which resulted in proposing a model on Succession planning in Academia. Keywords: Succession planning, Competitive edge, Top performance, Academia. 1. INTRODUCTION: Succession planning was first introduced by Henri Fayol, who believed if Succession Planning (SP) needs were ignored, the Organizations would not be prepared to make necessary transactions. According to Balskey (2002) SP allows an Organization to prepare for the absence, departure, death, retirement or termination of an individual. It provides for continuity and the evolution of necessary skills. In the earlier research t was found that the Organizations that had a specific Successor in its mind tended to be significantly more profitable than firms which did not have. In todays more flexible and rapidly changing Organizations, the scope of formal succession planning may be limited, as they could be outdated as they are made. In these circumstances the Organizations can use latest techniques of Talent management and databases, keeping in view the critical factors like Strategic HR plans, Investment, employee commitment, accountability of management and long term need of the organization that ensure the success of Succession Planning while building the long lasting model of Succession Planning.

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2. THEORETICAL AND LITERARY REFLECTIONS: Planning for the succession of key executives, managers, and other employees is an important part of HR development. It is a process of identifying a longer term plan for the orderly replacement of key employees (Mathis & Jackson, 2003). Succession planning is to identify, develop and make the people ready to occupy higher level jobs as and when they fell vacant. It is defined as a deliberate and systematic effort by an organization to ensure critical personnel continuity in key positions and encourage individual advancement (Rothwell, 2010). In any kind of Organization, the need to replace key employers results from promotions, transfers, retirements, deaths, disability, departures or others reasons. Succession planning allows an Organization to prepare for the absence, departure, death, retirement or termination of an individual. It provides for continuity of culture and the evolution of necessary skills (Balskey, 2002).Even the educational institutions try to focus on top management such as ensuring the key position. Limiting succession planning just to top executive jobs is one of the greatest mistakes made (Scott T. Fleischmann, 2000). Succession planning recognizes that some jobs are lifeblood of the organization and are too critical to be left vacant or filled by any but the best qualified persons. Succession planning is critical to success when effectively done, and creates an effective process for recognizing, developing and retaining top leadership talent (Seema Sanghi, 2011). Best development methods for succession planning include 360degree feedback, executive coaching, mentoring, networking, job assignments and action learning (Groves, 2007). Succession planning as a career management technique is critical for creating perception of career success and satisfaction of promotion process among employees. New career concepts like protean career and boundary-less career put the responsibility for career development on the shoulders of individuals; but systems like Succession Planning cannot be abandoned and still play an active role in instilling positive attitudes and emotions to employees alongside with managing risk and ensuring continuity of performance of the firms ( Farashah et. al, 2011). Succession planning is about more than filling the top spots. It is a smart talent management strategy that can drive retention of talent throughout the organization and make sure that the organization has the skills it needs in place, or on hand, to respond to the rapidly shifting sands that make up todays business environment. The five key strategies are: aligning succession planning with business strategy; assessing leadership potential using the 3Cs; involving the talent in the planning; mixing development: experience/coaching/training; and casting a wider net for succession (Angela Hills, 2008). The Seven-Pointed Star Model is a famous model developed to achieve the systematic succession planning and management. Seven steps in this model are: Make the commitment, assess the present work/people requirements, appraise individual performance, assess the future work/people requirements, assess individual potential, close the development gap, and evaluate the succession planning and management program ( Rothwell , 2005). Succession management practices should emphasize employee Self-improvement by promoting crossfunctional and cross-sector job assignments, executive coaching and mentoring (Kim, 2003). Organization that scored high in executive succession planning scored high in organizational learning. Specifically, executive succession plans have significant and positive correlation with the organizational learning capacity ( Hunte D. E, 2004). Once high potentials are selected, their development plan needs to include a job rotation program, a formal

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mentoring/coaching program, utilizing 360 feedback tools and receiving the appropriate reward for performance ( Krauss J. A, 2007). some indicator for that succession planning include: identifying new leaders; developing new leaders; delivering financial success; fostering a positive organizational culture; maintaining long-term viability; sustaining core competencies; initiating change management ( Mandi A. R, 2008.). Some strategies for implementing deliberate and systemic succession plans in the academic environment via a research in higher education institutes. These strategies include: securing executive champions; aligning the succession plan to institutional culture, mission, vision and goals; taking an approach not unlike strategic planning; carefully constructing communication plans to embrace talent development without inferring entitlement; and a continuous evaluation of both the people and processes involved in succession planning (Cheryl R, 2009) There are many models and approaches in succession planning and management. The point of view is that among these models and approaches, managers have to find the best model which can fit best for their organizations. Those that already have a succession planning and management program in place must focus on overcome their exclusive obstructions to a best practice system and those who do not presently invest in succession planning and management should perhaps consider its value and try to implement it (Shadi Ebrahimi Mehrabani1, Noor Azmi Mohamad , 2011). A great deal of education will be necessary to make people understand that inclusion is not so much about treating everyone the same as it is about preventing their differences from being an unfair hindrance (Bridges et.al, 2008 ). Institutions of higher education need to become more sophisticated so that they can recognize good leadership when they see it. This will require courage, imagination and training. It is easy to find leaders in the usual places. To find leaders in places where they are likely to be overlooked by the casual observer can only be done through a deliberate, thoughtful and sustained process of succession planning (Cristina Gonzlez, 2010). 3. NEED FOR THE STUDY: For any kind of Organization either family run Organization or professionally run companies, there is a need Succession planning for its better survival, so that they can enjoy the benefits of cost savings, better retention and transition management. The Academia need sound Succession planning not because they are entirely HR dependent but because they play a prominent role in developing students into leaders with global perspective. The absence of Succession planning in Academia lead to a situation where in key positions continue to face frequent and un predictable turnover and the decisions makers of the organization may complain that the talent pool and internal recruitment do not have adequate levels of competence. Unfortunately due attention to Succession planning is not given in Academia. So the present study is initiated keeping in view the previous discussion. 4. OBJECTIVES OF THE STUDY: The present study has been carried on with the following objectives. 1. 2. To study the factors governing Succession planning in the Academia. To develop a model proposing Succession planning for Academia.

5. METHODOLOGY: To propose a model for Succession planning in Academia, the present study has used texts, journals, magazines, news papers and websites as secondary sources of data. Observation

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method has been adopted as the primary source of data. The analysis of the is based on the understanding the various governing factors and strategies of successful Succession Planning from literature review. 6. SCOPE OF THE STUDY: The present study has been carried on by keeping only the higher educational institutions (Professional) in view. More over secondary data has been used extensively to propose the model of Succession planning. The factors governing Succession planning might be different when carried an empirical study. 7. ANALYSIS: The assumption for the study is that there exist three levels of management in Academia that can be considered for Succession planning. They are1. Top Management and administration 2. Teaching staff and 3. Non-teaching staff. For the present study, the Strategic HR plans, Competency gap analysis and talent management process are considered as the governing factors for the Succession planning in Academia. Fig-1 depicts the Model proposed for Succession planning in Academia. The proposed model explains the process of Succession planning, which includes seven key steps. They are described as follows: 1. Aligning the Succession planning goals with Strategic HR plans: The scope of Succession planning will be more when the there is a perfect alignment of Succession planning with HR plans and this has to be carried out by keeping investment decision in consideration. 2. Determining the Succession planning: Here the Organization has to address the vacancies that will be available by anticipating the future work requirements at all the level of the management. Data base software will be of use for effectively handling the work. 3. Identifying the Competencies required for each position available: Once the key positions are identified for succession planning, the Organization has to determine the essential competencies (Qualities and qualifications) that required for each position available. 4. Checking the availability of Competencies: The two interdependent activities i) Developing the replacement charts and ii) Assessment of current capabilities of current employees play a vital role in the supply forecast of the personnel required to occupy the vacant positions available. The replacement charts identifies the employees who could fill the vacancy. Ignoring the assessment of current capabilities of current employees may result in employees complaining of nepotism and favoritism as the key position will be filled up by inefficient individuals. 5. Conducting the Competency Gap Analysis: The Organization has to analyze the difference (if any) between the required and current competencies of the current employees. If gap is identified the management has to decide the management has two alternatives available i) It can recruit an external personnel who is competent enough to occupy the key position and who is ready to adopt the existing Organizations culture ii) Conducting Talent management and career development programmes for the internal personnel by first conducting individual assessment to identify the need and then developing the essential capabilities. If no gap has been identified it can proceed to 6th step in the process.

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6. Proceeding towards the staffing function: Placing the right person on the right job may be from internal employees or external. When Succession is from internal employees the Career interests of the competent employees are needed to be considered while going for the staffing function.
4. Checking the availability of competencies

3. Identifying the competencies required for each position available. 1. Aligning the Succession planning goals with strategic HR plans

Developing the Replacement charts

Assessing the current capabilities of current employees

2. Determining the Succession planning

5. Conducting Competency Gap Analysis

7. Expediting

5.a) No Gap identified

5.b) Gap identified

6. Proceeding towards Staffing function

Talent management for internal personnel

1. Conducting individual assessments 2. 3. Identifying the developing needs Developing the essential capabilities

Recruiting the external personnel

Fig-1: Model on Succession planning in Academia 7. Expediting: Finally to ensure the best outcome of planning efforts, the Organization has to carry out periodic review and reassessment of the organizational and individual future needs. Whatever may be the key position either line or staff that is created vacant, the Organization has to give due importance the seven steps included in the model. CONCLUSION: In order to survive and prosper in the current challenging environment there is an absolute need to have sound Succession planning. There may not be perfect model that is suitable for all kinds of Academia, as they differ in so many aspects. From the present study it can be concluded that, even in Academia Succession planning plays a significant role in determining the future leaders of the Organization. When deciding the investment in Succession planning the organization has to pay at most importance to the Strategic HR plans, Competency Gap analysis, Talent management and Career development programs and finally the staffing and follow-up functions to ensure the best outcome from the Succession planning. REFERENCES: Ali Dehghanpour Farashah, Vahid Nasehifar* and Ahmadreza Sanjari Karahrudi (2011) Succession planning and its effects on employee career attitudes: Study of Iranian governmental organizations. African Journal of Business Management, Vol.5 (9): 3605-3613. Angela Hills. Succession planning or smart talent management? http://www.blessingwhite.com/content/articles/succession_planning_by_ah.pdf Balskey, M. S (2002).Succession Planning with a business lining will, Journal of Accountancy, Vol. 193(5): 22-23.

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Bridges, Brian K., Peter D. Eckel, Diana I. Crdova, & Byron P. White (2008). Broadening the Leadership Spectrum: Advancing Diversity in the American College Presidency. Washington DC: American Council on Education. Cheryl R (2009). A new Paradigm: Strategies for Succession Planning in Higher Education. Meneapolis, USA : Capella University. Doctoral Dissertation Cristina Gonzlez (2010). Leadership, Diversity and Succession Planning in Academia*.Transaction Publishers. Groves K. S (2007). Integrating leadership development and succession planning best practices. J. Manage. Dev., Vol. 26(3): 239 260. Hunte D. E (2004) -Cox. Executive Succession Planning and the Organizational Learning Capacity. Washington DC: George Washington University. Doctoral Dissertation. Kim S (2003) Linking Employee Assessments to Succession Planning. Public Personnel Management, Vol 32(4): 533-548. Krauss J. A (2007). Succession Planning and Talent Management Recommendation to Reduce Workforce Attrition and Preparation for an Aging Population. Wilmington : Wilmington University. Doctoral Dissertation.

CREATING EMPLOYER BRAND TO ATTRACT TALENT

MRS.V. SUBHA MBA.,M.PHIL.,(PH.D)., Associate Professor, RVS Institute of Management Studies, Coimbatore. DR. B. SRIPIRABAA, MBA., PH.D.,, Associate Professor, GRG School of Management Studies Coimbatore. Abstract: Employees perception of Employer is called Employer branding. This brand image is developed due to their values, services, uniqueness and consistency. Employer branding is similar to product positioning since it states how its stakeholders think about the employer. Employer branding is intangible in nature and explains how ones workplace is different from other. This employer branding has become a critical one due to economic recession. It has become tough task to find potential candidate for recruitment. Once employer branding is created it magnetize desirable candidates and which in turn increase its credibility. Every company has to prove their uniqueness to attract best employees in the market. Employer branding is not mere logo designing but an organization should become employees choice or most preferred one. This cannot be achieved merely by manifested advertisement or a punch line but it can be achieved by a good work environment and by a transparent relationship between employer and employee. Introduction: In todays globalised world, the rules of business have changed. The adage customer is king is indeed a reality and the customer is the focal point of business. A customer today isnt bothered so much, about where the product is manufactured or sourced, as long as it meets his requirement. Technology has advanced, but its access has become fast and easy, leading to narrow product differentiation. Innovative and aggressive advertising is successfully creating increased interest for products across industries. With services becoming a crucial point on which customer preference is sustained or altered and people within an organization make all the difference.

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While all along, we have been emphasizing the importance of servicing external customers, the concept of internal customer has been slowly gaining ground. Organizations need to focus on satisfying internal customers as a prelude to achieving external customer satisfaction, is now a universally accepted fact. Other management functions such as finance or operations must serve the interests of their internal customers like marketing or service, who deal with external customers. Therefore, serving a customer, internal or external, is the key focus of organizations. The customer focus as a key strategy is relevant universally, whether its a service industry or product marketing. With the dramatic rise of industries such as ITES, BPO, telecom, banking, insurance, hospitality and retail, the service sector now contributes over 57 per cent to the countrys GDP. Surprisingly, the people focus hasnt led to significant changes either in the functioning of HR or its role within organizations. New thrust Paradoxically, the Indian working class movement, which had risen to new heights prior to liberalization, lost its momentum before the rising importance of people. In other words, even though people have become far more important, the function responsible for organizing this resource within an organization has remained focused on traditional functions such as recruitment and training. With the change in business dynamics, the thrust on people has also undergone fine-tuning. A work environment wherein employees can enjoy working and optimize their productivity is the new thrust. Universum, the employer branding company in its website states, When 70 percent of corporate value is from intangible assets (according to Accenture) and skill shortages are acute worldwide, being an attractive employer is critical to keep a sustained competitive advantage. The case of Google illustrates how an organization alive to the changing needs, can make a huge positive impact. Recently, Universum voted Google as the most attractive employer. In the global rankings based on the employer preferences of students from Brazil, Canada, China, France, Germany, India, Italy, Japan, Russia, Spain, UK, and US, Google topped as the most attractive employer in both business and engineering categories. This comes as no surprise to anyone following Googles corporate philosophy. Googleplex, the corporate headquarters of Google in California is synonymous with providing a balance of work and fun. Some of the facilities in Googleplex include foosball (table football), pool tables, volleyball courts, assorted video games, pianos, ping-pong tables, and gyms that offer yoga and dance classes. They also have grassroot employee groups for all interests, like meditation, film, wine tasting and salsa dancing. Google offices across the globe implement the same corporate philosophy with many common elements. Employer Branding: Employer branding is defined as a targeted long term strategy to manage awareness and perceptions of employees, potential employees and related stakeholders with regards to a particular firm. This includes direct and indirect experiences of dealing with the firm. Like

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actual product branding, organizations have started to invest employer branding as employees are the internal customers of the firm. The employer brand builds an image confirming the organization as a good place to work. Today, an effective employer brand is essential for competitive advantage. With the liberalization of the economy in 1991 and subsequent economic reforms, companies are becoming internationally strategic to utilize the employer brand to attract and retain talent which leads to expand and growth of the business. The 8 Elements of a Successful Employment Brand Many organizations are starting to see glimmers of faster paced growth. As a reaction, many are becoming more aware of the need to build their employment brand as a well-managed company and good place to work. And while senior executives long ago realized the value of building product brands, and now credit portions of their market value to such brands, only recently have executives realized the importance of managing their brand as an employer. A successful employment brand management effort increases both the number and quality of applicants, reduces the turnover rate among top performers, and increases overall workforce productivity. Because employment branding is a targeted strategy it cannot be successfully managed using a hodgepodge or uncoordinated effort. In order to be successful, it must contain each of these eight essential elements: 1. A culture of sharing and continuous improvement. No employment branding effort can succeed in an organization that is afraid to expose or brag about its best management practices. The foundation element of a good employment brand is a senior management team that encourages, measures, and rewards the development and sharing of best practices. (This element is strengthened by the development of processes that enable the rapid sharing of best practices between business units.) 2. A balance between good management and high productivity. Having unique benefits and doing great community work both have some impact on a firms external employment image. Since the basis for any HR effort should be to improve its workforce productivity (i.e. the value the company gets back for every dollar invested in its employees) any image building effort must balance looking good and increasing productivity. On the flip side, some managers become overly focused on workforce productivity. Therefore, in order to insure a strong brand as well as improved employee productivity, firms must measure and reward balance between the use of good management practices and efforts to improve employee productivity? 3. Obtaining public recognition (great-place-to-work lists). Theres no doubt that the increased interest in employment branding during the past decade has been a direct result of the increased number of organizations and magazines that create lists of great places to work. While its true that many of these lists are heavily slanted towards firms that offer great benefits, no one can argue against the benefits of exposure that occur as a result of being listed. Often times the exposure is not limited to just being mentioned in the list. Local news agencies, periodicals, and industry trades frequently run features on firms in their area or industry. This exposure increases the credibility of a firm and reinforces the mindset among target audiences that the organization is a good place to work..

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4. Employees proactively telling stories. One of the prime attributes of a great employment brand is that employees go out of their way to tell stories about the firms management, business practices, and impact on their life. While almost any employee will respond to a question about their firm, the employees at well-branded firms volunteer their stories to strangers both inside and outside the workplace. Having created such an environment enables viral marketing, where employees spread the word about the great management practices to their families, friends, co-workers, and even strangers on airplanes, at places like professional meetings and social settings. In a wellbranded firm, even the employees families know of and help spread stories. Having employees proactively tell stories within the organization builds pride and increases retention rates. Having employees that tell stories externally increases the number and the quality of employee referrals for open positions. 5. Getting talked about. The number of agencies that make up the business press has grown so large and become so segmented and influential that being talked about in specific publications has become an essential element in building a strong employment brands. First, managers must speak and write about their management practices in highly visible ways. While an internal meeting is great for communicating information to a small group of employees, a conference or periodical column provides greater exposure. In fact, some research suggests that up to half of a companys employment brand is tied to the CEO and how well they are positively perceived in the business community. The second component of getting talked about focuses on getting written up in the business press. 6. Becoming a benchmark firm. The best managed firms are those also known as benchmark firms. These are the firms that have best practices that everyone else wants to learn about and emulate. A great brand requires management to participate in major benchmarking studies and to make a conscious effort to respond to those that highlight the best practices. The net result of this is that at management meetings around the world the firms name will become one of the most quoted and respected, a fact that filters down to the community level with time. Since most benchmarking begins on the Internet, one can even assess the benchmark shadow or exposure by doing a Google search of both the firms name plus the functional area (i.e. General Electric + HR). 7. Increasing candidate awareness of firms best practices. There are many companies that are well known because of their product brand but that have not developed awareness for their management practices. A great employment brand doesnt just increase the potential applicants awareness of the firm. It goes one step further and informs potential applicants about the management practices that make a good place to work. The basic foundation of this branding step is to craft messages to the target audience of potential applicants, so that they apply for the jobs specifically because of the management and business practices. This element requires each major business function to make it part of their performance objectives to educate potential applicants about their best practices. It entails highlighting best practices at tradeshow booths, in recruiting materials, in the annual report, and especially on the companys website 8. Branding assessment metrics. Building a product brand requires intense effort over time. One must continually improve it and sculpt it to fit the changing needs of the target audience. Employment brands are no different. They must continually change and improve. The key to that continuous

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improvement is the use of brand assessment measures or metrics. Any branding campaign should begin with side-by-side comparison numbers that can be used to judge the relative success and improvement of the effort. Branding metrics should become part of the assessment criteria for all major business functions and their managers. CONCLUSION: Today, an effective employer brand is essential for gaining competitive advantage. Increasingly, Indian corporations are becoming intentionally strategic to utilize the employer brand to attract and retain talent for the expansion and growth. The increasing focus on competitive advantage is leading many Indian firms to rethink their employer brands. A powerful employer brand has the capacity to attract and retain talent and represent quality to its customers, with the goal of gaining global recognition in a sustainable manner. The right kind of employer branding has also plenty of advantages as it provides a personality to the company and helps structure recruitment. It pulls in the right kind of candidates and spells out the companys expectations from them right at the beginning. Most importantly, it ensures that the best employees stay on longer, thus allowing the company to carry on its operations smoothly. Ultimately, the key to a successful employer brand is to ensure that expectations are fully aligned with the realities of working for the organization. Bibliography Minchington, B (2006) your employer brand Attract, Engage, Retain, Collective Learning Australia. Martin, G(2009) Employer Branding and Corporate Reputation management, The Peak Performing Organization, Chapter13, pp 252, Routledge, London Baid, P and Rao, A.R. (2006) Employer Branding, Concepts and cases, ICFAI University Press, Hyderbad. Petrovic, M (2008) Employer Branding, Rainer Hampp verlag, Munich. Edwards, M.R., (2010) An Integrative review of employer branding and OB theory, Personnel Review Vol. 39, No.1, pp.5-23

EMPLOYEE ENGAGEMENT
- A powerful retention strategy Any company trying to compete must figure out a way to engage the mind of every employee Jack Welch, former CEO General Electric Abstract Most organizations today realize that a satisfied employee is not necessarily the best employee in terms of loyalty and productivity. It is only an ENGAGED EMPLOYEE who is intellectually and emotionally bound with the organization who feels passionate about its goals and is committed towards its values thus he goes the extra mile beyond the basic job. Employee engagement is a powerful retention strategy. An engaged employee gives his company his 100 percent. When employees are effectively and positively engaged with their organization, they form an emotional connection with the company. Employee engagement is a barometer that determines the association of a person with the organisation. It is about creating the passion among associates to do things beyond what is expected from him. , there is an interdependence amongst Employee engagement, commitment, motivation and

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mployee satisfaction. An engaged employee will be committed to the organisational needs, will be motivated and yes satisfied too. This paper spots light on whether employee engagement contribute to retention of employee based on some research report gathered over net. Introduction Employee engagement has emerged as a critical driver of business success in today's competitive marketplace. Further, employee engagement can be a deciding factor in organizational success. Not only does engagement have the potential to significantly affect employee retention, productivity and loyalty, it is also a key link to customer satisfaction, company reputation and overall stakeholder value. Thus, to gain a competitive edge, rganizations are turning to HR to set the agenda for employee engagement and commitment. This paper spots light on whether employee engagement contribute to retention of employee based on some research report gathered over net. EMPLOYEE ENGAGEMENT Employee engagement strategy plays a vital role in motivating the performance levels of the workforce. A motivated employee will seek out ways to accomplish a task. The degree to which an employee is emotionally bonded to his/her organisation and is passionate about the work that really matters. The organization must work to develop and nurture engagement, which requires a two-way relationship between employer and employee. Thus Employee engagement is a barometer that determines the association of a person within the organization. Engagement can also be defined as the extent to which people enjoy and believe in what they do and feel valued for doing it. Employee commitment and engagement is measured by three primary behaviours Say, Stay and Strive. 'Say' is evidently achieved if the employee consistently speaks positively about the organisation to co-workers and refers potential employees and customers. 'Stay' refers to the employee's intensive desire to be a member of the organisation, despite opportunities to work elsewhere. 'Strive' indicates an extra effort and behaviours that contribute to business success. As organizations globalize and become more dependent on technology in a virtual working environment, there is a greater need to connect and engage with employees to provide them with an organizational identity. Employee engagement plays a greater role in the current era where every contribution by each of the employee counts. Employee engagement programmes throw light into the success of the company in engaging its employees in the productive activities. Employee engagement is not just the process of engaging the employees productively. It also expects the organization to pave the way to ensure that the employees are motivated to put in their best efforts for the wealth maximization. This requires building loyaltywhich can inject commitment in doing quality work. The mission must be well defined and supported

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by well set organizational plans and policies for its attainment. The management is also to provide with the set of tools and material that are necessary for performing the task effectively. Does Employee Engagement really promote Retention? Before exploring it here are some more stuffs about employee engagement then the solution is revealed with supporting results from various research studys detail collected over net. WHAT DOES AN ENGAGED EMPLOYEE THINK, FEEL & DO? Various researches have been conducted in the past and all of them have one thing in common that if an organization wants to sustain in the long run then it is really essential for it to have an engaged workforce. Employees feel engaged when they find personal meaning and motivation in their work, receive positive interpersonal support, and operate in an efficient work environment. All efforts are made on maximizing employee output and making the most of organizational resources. An engaged workforce takes an organization to great heights. CATEGORIES OF EMPLOYEE ENGAGEMENT According to the Gallup, the Consulting organization there is there are different types of people:I. ENGAGED "Engaged" employees are builders. They want to know the desired expectations for their role so that they can meet and exceed them. They are naturally curious about their company and their place in it. They perform at consistently high levels. They want to use their talents and strengths at work every day. They work with passion and they drive innovation and move their organization forward. II. NOT ENGAGED Not-engaged employees tend to concentrate on tasks rather than the goals and outcomes they are expected to accomplish. They want to be told what to do just so they can do it and say they have finished. They focus on accomplishing tasks vs. achieving an outcome. Employees who are not-engaged tend to feel their contributions are being overlooked, and their potential is not being tapped. They often feel this way because they don't have productive relationships with their managers or with their co-workers. III. ACTIVELY DISENGAGED The "Actively Disengaged" employees are the "cave dwellers." They are "Consistently against Virtually Everything." They're not just unhappy at work; they're busy acting out their unhappiness. They sow seeds of negativity at every opportunity. Every day, actively disengaged workers undermine what their engaged co-workers accomplish. As workers increasingly rely on each other to generate products and services, the problems and tensions that are fostered by actively disengaged workers can cause great damage to an organization's functioning. Employee Engagement Begins From Day 1: Research has proved that employee engagement begins from day one repairing employees for their new roles and communicating how they can help the firm meets its goals can go a long way toward determining whether new employees ultimately succeed. The main requirement is to focus on improving communication, both to managers who do hiring and to employee's themselves. Thus for this there should be structured inductions. Organizations

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seeking ways to build a motivated, satisfied and engaged workforce should start by putting in place structured and well-planned orientation programmes for their new employees. Difference between Satisfied Workforce and Engaged Workforce. A person who is engaged may not be satisfied while a person who is satisfied may not be engaged. There's lot of difference between an employee being satisfied and employee being engaged. An employee may be satisfied with the facilities that he is getting and that would be sufficient enough to continue with the organization. On the other hand an employee may be 100% engaged to his work yet may not be satisfied one of the reasons could be that he does not have a supportive boss. Engagement Is Linked To Three Essential Forces In The Organization Attrition,Productivity & Profitability: >Attrition is the number of people leaving the organization and it's a well-known fact that is one of the major problem being faced by the organizations be it any sector. An engaged workforce definitely has less chances of leaving the organization, a person who is engaged in his work is likely to stick to the company as he offers his best and as result of which the organizations takes due care of him in the form of hike in salary by way of incentives and bonus. Attrition is likely to come down in the organization, which have engaged workforce and this will get in the likely benefits for the organization. >Productivity is the output of the workers in the form of work done by them its not the quantity that matters it's the quality that is of importance for the organization. An engaged workforce has an understanding of what is expected of them at work so thus they are able to carry on their task effectively and efficiently thus adding to the productivity of the organization and thus adding to the growth and success of the organization. >Profitability is the ability of a company to earn a profit. It is a relative measure of success for a business. Research has proved that an engaged workforce is likely to result in an increase in the profitability of the concern as they have complete dedication and commitment to their work and thus this is likely to result in an increase in the profit of the concern and thus ensuring the success of the organization. The organizations now days take all reasonable steps to ensure that they have engaged workforce like organizing birthday bashes, talent shows, sports activities and many other things. They want their employees to be committed to their work fully besides all the above activities they also make sure that the employees have role clarity, get all the material and equipment they require to perform their work efficiently etc.

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Process

My view on Employee Engagement Yes employee engagement helps in retaining the employee it is a right and powerful retention strategy. Once for all if the employee is involved and commites towards the company ( not his job as there are many organization ready to provide the same job with high pay it is necessary to keep him aligned towards the company) it is believed that he wil stay with the organization and he will show good progress in his personal as well as organizations achievement. Here are some results obtained from research that has been conducted by various researchers and universities collected over net and some examples of companies using it n the words of famous personality. >An employee sitting idle the whole day at workplace creates problems >In fact, employees with the highest levels of commitment perform 20% better and are 87% less likely to leave the organization, which indicates that engagement is linked to organizational performance. >A Gallup study estimates that more than $300 billion in productivity is squandered within the U.S. workforce due to disengaged employees > Gallup study also reavels 18% higher Productivity 37% lower Absenteeism 49% less Safety Issues 60% less Quality Defects 12% Cost Savings 16% higher Profitability 71% of engaged staff know what the customer wants 90% of engaged employees say they are less likely to leave the organisation >Organizations with an engaged workforce have 2.6 times the earnings per share growth rate compared to organizations in the same industry with a lessengaged workforce. >High profile companies like WalMart, are beginning to recognize employee engagement as a new and promising addition to corporate social responsibility. >Business leaders like Richard Branson of Virgin use EEWs as a basis for their growth. To quote Branson, We embarked on consciously building Virgin into a brand which stood for quality, value, fun and a sense of challenge. We also developed these ideas in the belief that our first priority should be the people who work for the companies, then the customers, then

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the shareholders. Because if the staffs are motivated then the customers will be happy, and the shareholders will then benefit through the company's success. >A recent study conducted by haward business school revealed that every 1% of staff loyalty resulted in % increase in customer loyalty. >NS Rajan, partner, EMEIA Leader and National Head, people & organization, Ernst & Young states, The term employee engagement is an evolved version of employee satisfaction. While satisfaction refers to contentment, engagement refers to commitment and the drive to go beyond the call of duty to work towards organisational goals. >KA Narayan, president HR, Raymond Group states, The difference between a happening workplace and an uninspiring workplace depends on the levels of employee engagement. The success of an organisation revolves around the percentage of engaged employees. IMPORTANCE OF ENGAGEMENT An organizations capacity to manage employee engagement is closely related to its ability to achieve high performance levels and superior business results. Some of the advantages of Engaged employees are: Engaged employees will stay with the company, be an advocate of the company products and services, and contribute to the bottom line of the business success. They will normally perform better and are Self-Motivated. There is a significant link between employee engagement and profitability. They form an emotional connection with the company. This impacts their attitude towards the companys clients, and thereby improves customer satisfaction and service levels. It builds passion, commitment and alignment with the organizations strategies and goals Increases employees trust in the organization Creates a sense of loyalty in a competitive environment Provides a high-energy working environment Boosts business growth Makes the employees effective brand ambassadors for the company A highly engaged employee will consistently deliver beyond expectations. Conclusion Employee engagement is a key business driver for organizational success. High levels of engagement in domestic and global firms promote retention of talent, foster customer loyalty and improve organizational performance and stakeholder value. A complex concept, engagement is influenced by many factorsfrom workplace culture, organizational communication and managerial styles to trust and respect, leadership and company reputation. For today's different generations, access to training and career opportunities, work/life balance and empowerment to make decisions are important. Thus, to foster a culture of engagement, HR leads the way to design measure and evaluate proactive workplace policies and practices that help attract and retain talent with skills and competencies necessary for growth and sustainability. From my exploration I would say that employee engagement helps in employee retention and also it is a powerful retention strategy which is also revealed in various other researches.

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A STUDY ON PERFORMANCE APPRAISAL 720 DEGREE IN IT INDUSTRY

C. Kala - Research Scholar Dr. M. Sakthivel Murugan - Research Guide INTRODUCTION Today its the firm workforce its knowledge, commitment, skills and training that provides competitive advantage for world-class companies. And its HRs job is to build that competitive advantage. A survey of 377 CEOs from the worlds 2000 largest companies revealed that a great deal of time is utilized in reshaping corporate culture and employee behavior even more time than they spend monitoring corporate financial information. This shows that HRs role is shifting from protector and screener to strategic partner and change agent. Business is totally dependent on their employees in order to make the organization effective and achieve their goals. To achieve their target they need to measure the performance of employees on regular basis as constant measurement will yield continuous improvement. Effective monitoring includes giving timely feedback, reviewing the performance according to pre-determined standards and timely recognition of the accomplishments. Apart from this it motivates the employee to perform better each day. Performance evaluation is the process of measuring an employees present actual performance with the estimated standard performance. It attempt to assess those job related skills, knowledge, qualities, ethical values, flexibility and sense of judgement that contribute to job success. The crux of performance management is ensuring frequent interactions with employees inorder to enhance their level of and capacity for performance on a sustained basis. CONCEPT OF PERFORMANCE APPRAISAL 720 DEGREE The decision regarding the selection of particular type of evaluation usually involves questions like what aspects are to be evaluated and how they should be evaluated. Nevertheless the purpose of evaluation is the major guiding factor for such decision. For instance, traditional methods are appropriate when the purpose of evaluation is identifying suitable employees for promotions and compensation, whereas collaborative methods like evaluations by employees, peers, customers and self-evaluation are more suitable for developing the employees. Thus managers have to carefully choose from the number of evaluation options available to them. Here we are about to discuss the 720 degree evaluation as a possible alternative appraisal technique. Accurately and objectively measuring the performance of an employee is the most difficult part of performance appraisal process. Different methods are used for performance appraisal , but 720 degree performance appraisal is an integrated method of performance appraisal where the performance of an employee is evaluated from 360 degree (management, colleagues, self and also customers) and timely feedback is given and performance are evaluated again based on the targets that are set. Hence 720degree performance appraisal can be stated as twice 360 degree performance appraisal: once when the appraisal is done and the targets are set and the second where the feedback is given and the boss gives tips to achieve the goals. Hence, there is a pre and post round of feedback.

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NEED OF 720 DEGREE PERFORMANCE APPRAISAL Organizing are slowly but steadily realizing the need for this new system, which is better than the existing 360 degree evaluation, especially in terms of focus of the evaluation and the involvement of the evaluators in the process. For instance, the 360degree appraisal facilitates the formal assessment of an employee by the evaluators like customers or the employee, possibly with the help of appraisal forms. But the 720 degree evaluation goes one step further and insists on a better focused, personalized and in-depth review of the employees occupying managerial position. The evaluation of the employee is usually done through detailed personal interview with the performance evaluators. It concentrates more on what matters the most for an organization. The main need can be summarized as follows: 1. 2. 3. 4. 5. 6. 7. 8. It helps to check the effectiveness of personnel procedures and practice It is needed to ensure that the employees reach organizational standards and objectives To discover the work potential and to understand the areas where training is required It assist in taking decisions regarding salary fixation ,confirmation, promotion, transfer and demotion. Provide timely feedback about the performance, set targets and monitor the performance based on the targets set. To understand the expectation of the employees and prevent grievances and in disciplinary activities . Provide information and prescribe the means for employee growth. Helps the managers and the executives to be able to lead these organization toward successful implementation of strategic changes.

Thus the need of 720 degree appraisal is the improvement of performance of people in their job and to ensure that the expectations of the employer, employee and the customers are met. BENEFITS OF 720 DEGREE APPRAISAL 1. It help in creating a synergetic work environment and will help to bring out the best of each employee. 2. It helps in better analysis and improved feedback from different dimensions. 3. Reduces the appraisal barriers like prejudice, bias and discrimination. 4. Helps to develop a better and co-operative team. 5. Encourages transparency and feeling of treated justly. 6. Customer feedback is valued do better customer service and satisfaction can be obtained. DIMENSIONS OF 720 DEGREE PERFORMANCE APPRAISAL Todays competitive environment has made every IT industry to aim at achieving a high rate of employee satisfaction and transparency in the working environment. In order to achieve these goals, 720 degree performance appraisal would be vital tool as it is used to appraise the performance of an employee from different dimensions and helps to overcome the barriers of bias, prejudice and discrimination. The performance is appraised from 5 dimensions and feedback or the appraisal meeting is conducted twice (pre and post feedback)to ensure the efficient performance of the employee. Including the pre and the post feedback , that plays a vital role. In 720 degree performance appraisal has 7phase

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Self , Sub-ordinate, Peers Pre feedback Managers and Customers a)PRE APPRAISAL FEEDBACK: This is the first appraisal step that is done after the feedback is collected from the different people with whom the employee would interact. Here the performance is evaluated, targets are set and feedback is organized to help the employee achieve the target. b)In self-appraisal the employee is given a questionnaire and asked to evaluate his performance and through this method, the employee gets an opportunity to express his thoughts and his valuation of strengths, weakness and judge his performance. 3 a) The feedback from the peer group is important as it helps to understand the ability of the employee to work as a team ,co-operate, co-ordinate with others and bring out the best. b) To survive in the current competitive market firms aim at achieving high customer satisfaction . Customer feedback helps to analyze the customers point of view and help to improve the person and the organization. c) To analyze the organizing skill of the employee and to understand abilities such as communication and motivating abilities, ability to delegate the work, leadership qualities and way of handling responsibility. d) The performance, responsibilities and the attitude of the employee is evaluated by the superiors of managers. e) POST APPRAISAL FEEDBACK: This step make the 720 degree appraisal different and better than the 360 degree. Performance is evaluated based on the target set in the pre appraisal and feedback is given. Timely feedback and guidance helps to make the employee improve his performance. STATEMENT OF THE PROBLEM Today IT industries are ultra-modern in all functions of management. Therefore the author of this paper write to find out whether the employees and managers (appraisers) are aware of the concept of 720 degree appraisal method. If yes, do they practice it for the performance evaluation? The opinion of the employees vis--vis appraisers on the need and importance of this method as far as the performance evaluations, as it is the need of the hour. OBJECTIVES OF THE STUDY 1. To study the awareness level of the employees and managers on 720 degree performance appraisal method. 2. To find out the satisfaction level of the employees regarding the current appraisal method 3. To find from the appraisers and employees whether 720 degree method is useful in improving the performance. 4. To find whether the 720 degree performance appraisal method is in vogue in the selected IT industries. RESEARCH DESIGN The research design for the study is sketched as follows 1. Sample size: Sampling of employee respondents-80 Post-feedback

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2. 3. 4.

Sampling of manager respondents-20 Total sampling -100 A simple questionnaire is been framed separately for the employees and appraisers for the purpose of collecting data. After collecting the data it is classified and tabulated. The data is analyzed using percentage and rank correlation.

LIMITATION OF THE STUDY 1. The sample was taken from few IT industries in Chennai city. 2. Time constraint 3. Subjective views of the appraisers and the appraise respondents. FINDINGS The tables are prepared based on the basic survey and are classified in terms of the views and problems of the current appraisal methods used and the relevance of implementing the 720 degree performance appraisal method. Table 1 CURRENT APPRAISAL METHOD USED Performance Appraisal method used Appraisers Method Value 360 Degree appraisal method MBO- management by objective Human resource accounting Assessment Centers Behaviorally Anchored Rating Scales 8 7 5 0 0 % 40 35 25 0 0 Value 34 28 18 0 0 % 43 35 23 0 0 Employees

Table 2 AWARENESS OF 720 DEGREE APPRAISAL METHOD 720 Degree Performance appraisal method awareness Appraisers Option Value Yes No 6 14 % 30 70 Value 6 74 % 8 93 Employees

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Table 3 EMPLOYEES APPRAISED OWN PERFORMANCE Appraised own performance Employees Option Value Yes No Table 4 EMPLOYEE APPRAISE OTHER EMPLOYEES Can employees appraise other employees effectively Appraisers Option Yes No Value 15 5 % 75 25 49 31 % 61 39

Table 5 SATISFACTION CURRENT APPRAISAL METHOD Satisfied with the current method Option Value Yes No 16 64 Employees % 20 80

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Table 6 INFLUENCE PERSONALBIASES Does personal bias influence performance appraisal Option Value Yes No 54 26 Employees % 68 33

Table 7 IMPLEMENT 720 DEGREE PERFROMANCE APPRAISAL METHOD Like to implement 720 Degree performance appraisal method Appraisers Option Value Yes No 11 9 % 55 45

Table 8 DISADVANTAGES OF 720 DEGREE PERFROMANCE APPRAISAL METHOD 720- performance appraisal method -disadvantage Option Value Time Money Quality Personal bias 17 2 1 0 Appraisers % 85 10 5 0

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Table 9 720 DEGREE PERFORMANCE

PERFORMANCE

APPRAISAL

METHOD-IMPROVE

720 Degree Performance appraisal method useful and improve performance Option Yes No 1. Appraisers Value % 18 2 90 10 Employees Value % 64 16 80 20

Most of the IT firms opt for 360 degree performance appraisal method and management by objective.

2.

30% of the appraisers and 8% of the employees are aware of 720 Degree performance appraisal method, which shows that most of the employees and appraisers are not aware of 720 degree performance appraisal method. 3. As 61% of the employees have appraised their own performance it is clear that they are able to evaluate the career graph. 4. 75% of the appraisers stated that employee will be able to appraise other employees effectively. 5. 80% of employees stated that they were not happy with the current appraisal method and would prefer the use of a more effective method to their performance. Hence it is necessary to implement the 720 degree perform ance appraisal method. 6. 68% of the employees stated that personal bias and prejudice influenced their appraisal. Hence, it is necessary to introduce an objective multi-dimensional appraisal method like the 720 Degree performance appraisal method where personal bias cannot influence the appraisal process. 7. More than half of the appraiser respondents consider the 720 Degree performance appraisal method as an efficient tool to appraise performance and like to implement this method 8. 85% of the appraisers consider that 720 degree performance appraisal method is a time consuming process. 9. 90% of the appraisers consider the 720 degree performance appraisal method as an effective method and are positive that implementation of this method would help to improve their performance. 10. 80% of the employees are also of the same view that a appraisal method which includes appraisal and feedback will help to better evaluate and improve the performance of the employees. Thus totally employees and appraisers agree that implementation of 720 degree performance appraisal method will improve performance effectively. CHI-SQUARE TEST H0 : There is no significant difference between male and female in viewing about the disadvantage of 720 degree performance appraisal H1: There is significant difference between male and female in viewing about the disadvantage of 720 degree performance appraisal Calculated value is 1.2598

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Degree of freedom (2-1)(4-1)=3 Table value at 5% level of significance is 7.815 Here calculated value < table value Hence we accept H0 Inference: It is inferred from the above chi-square test that there is no significant difference between male and female in viewing about the disadvantage related to the use of 720 degree performance appraisal method. CONCLUSIONS From the above sample study, it is clear that most of the appraisers and appraise respondents are not aware of the 720 degree performance appraisal method. It is also evident most that of the employees are not satisfied with the current appraisal methods used in their organizations and consider personal bias as a major problem in the current appraisal method. Hence 720 degree performance appraisal as an objective method will help as it gives feedback and follows up to ensure that the appraised reach the goal. References www.humanresources.hrvinet.com 1. 2. Performance appraisals.org Human resource management by Pravin Durai 3. Management Journal 4. www.citehr.com 5. 6. Indian Journal of Multidisciplinary research

EMPLOYEE ENGAGEMENT: A MOTIVATIONAL TOOL

Dr.S.N.Soundara Rajan, Professor, Saveetha School of Management, 162, Poonamallee High Road, Chennai snsrajan@yahoo.com ABSTRACT Employee Engagement is a program offered by some employers as a combination of educational, organizational, recreational and motivational activities designed to promote employees belongingness to the Organization. HR department, especially the HR Manager in charge of Employee Relations takes the responsibility of keeping the employees morale high. Benefits for the employees include: lower levels of stress, increased well-being, self-image and self-esteem. The employers also benefit through: improved employee relations and morale and increased productivity. The HR manager has to ensure participation of all the employees in the programs. It is important to assess employee needs and interests with respect to worksite engagement programs. Failure to do so will likely to result in the engagement program with low participation and little or no improvement in employee morale. Then the HR manager has to identify the level of employee interest in various types of engagement activities, the most convenient times and places to schedule activities. An observational study has been conducted on the employee engagement programme of CISPL employees of M/s. Chola MS Murugappa Group in Chennai. The HR department runs various programs to ensure that they always Stay Connected with their employees by conducting events at the work sites once a month in order to provide a friendly as well as

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funny environment in place. The HR department also continuously engaged the employees by posting Daily Mailers covering issues covering professional personal issues like daily updates on insurance industry, updates from other branch achievements, games conducted at each branch, etc. The objective of the study was to find out the level of participation and benefits felt by the employees. A questionnaire was administered to collect the feedback about the daily mailers and fun activities conducted by the HR department. The data was analysed to infer that the engagement programme found to have huge participation and realized as very beneficial. The employees have also provided suggestions for improvement. It is the notion that employee engagement is a desirable condition, has an organizational purpose, and connotes involvement, commitment, passion, enthusiasm, focused effort, and energy, so it has both attitudinal and behavioral components. Engagement as a psychological state has variously embraced one or more of several related ideas, each in turn representing some form of absorption, attachment, and/or enthusiasm. Work and family are the two major domains in most people's lives and, contrary to what many think, they can never be entirely separate. People who are disengaged or unhappy at work are stressed and this causes them to be anxious and unable to give full of themselves to their families or communities. Some managers think the idea of fun at work may be difficult, but having fun can indeed boost job satisfaction, engagement and productivity. The employee engagement programmes enhances the employee morale and an enthusiastic employee is always more productive. Introduction Employee Engagement is a program offered by some employers as a combination of educational, organizational, recreational and motivational activities designed to promote employees belongingness to the Organization. HR department, especially the HR Manager in charge of Employee Relations takes the responsibility of keeping the employees morale high. Benefits for the employees include: lower levels of stress, increased well-being, self-image and self-esteem. The employers also benefit through: improved employee relations and morale and increased productivity. The HR manager has to ensure participation of all the employees in the programs. It is important to assess employee needs and interests with respect to worksite engagement programs. Failure to do so will likely to result in the engagement program with low participation and little or no improvement in employee morale. Then the HR manager has to identify the level of employee interest in various types of engagement activities, the most convenient times and places to schedule activities. Review of Literature It is the notion that employee engagement is a desirable condition, has an organizational purpose, and connotes involvement, commitment, passion, enthusiasm, focused effort, and energy, so it has both attitudinal and behavioral components. The antecedents of such attitudes and behaviors are located in conditions under which people work, and the consequences are thought to be of value to organizational effectiveness. Many authors have suggested that engagement is the illusive force that motivates employees to higher (or lower) levels of performance. Employee engagement is defined in many articles in terms of a high internal motivational state. Similarly, the emerging human resources development era professes the active engagement in terms of high levels of activity, initiative, and responsibility. Again, we see engagement defined both attitudinally and behaviorallyand we subscribe to both.

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Macleod and Clarke have explicitly referred to their measure in their empirical research study, as satisfaction-engagement and defined engagement as the individuals involvement and satisfaction with as well as enthusiasm for work. The Gallup survey items tap evaluative constructs traditionally conceptualized as satisfaction facets, including resource availability, opportunities for development, and clarity of expectations. Perhaps even more directly, some practitioners measure engagement as direct assessments of satisfaction with the company, manager, work group, job, and work environment characteristics. Engagement behaviors include innovative behaviors, demonstrations of initiative, proactively seeking opportunities to contribute, and going beyond what is, within specific frames of reference, typically expected or required. Work and family are the two major domains in most people's lives and, contrary to what many think, they can never be entirely separate. People who are disengaged or unhappy at work are stressed and this causes them to be anxious and unable to give full of themselves to their families or communities. Some managers think the idea of fun at work may be difficult, but having fun can indeed boost job satisfaction, engagement, and productivity. Engagement has become a hot topic these days, partly due to the fact that an improving job market may soon bring other options to demoralized employees who have survived multiple rounds of layoffs. When examining how to improve employee engagement, many managers overlook the obvious having a bit of fun in the workplace. Part of the reason is that having fun makes work more enjoyable and people who enjoy their jobs are more productive and engaged. Fun activities also help to build work relationships, which is another key ingredient of engagement and retention, and improving work relationships boosts teamwork and communication. The business management concept of employer engagement' focuses on ensuring that you have fully engaged employees otherwise meaning that your employee is fully involved in and enthusiastic about the work that they are doing. Objective of the study Cholamandalam MS General Insurance Company Limited is a joint venture between Murugappa Group and Mitsui Sumitomo Insurance Group of Japan, one of the top ten general insurance companies in the world. Chola MS offers a range of products in general insurance category, offering insurance services and innovative risk management consultancy services. A study was conducted on the Employee Engagement activities carried out in M/s. Chola MS Murugappa Group in Chennai. Every day electronic mailers were posted to all the employees covering various interesting topics such as, Spoonful of Wisdom (Monday), Be inspired (Tuesday), Spotlight on you ( Wednesday), Leader Speak (Thursday), Last Laugh (Friday). The employees can view these Daily HR Mailers sent to their inbox in the system on which they work at anytime according to their convenience. The objective of the study was to find out the usefulness of these daily HR mailers, whether the employee read them, they like it or not and their feedback on the quality and content of the mailers. Methodology A questionnaire was administered to all the 360 Officer cadre employees working in Claims and Operations divisions of M/s. Chola MS Murugappa Group in Chennai, to collect the feedback about the daily HR mailers. The data was analysed to find out the rating.

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Data Analysis & Findings The feedback obtained from 360 respondents on various factors about the daily HR mailers is presented in the following Tables. Daily Mailers: Employee Communication was more about the daily mailers that were sent to all the employees of Chola MS. It also includes mails on daily updates on insurance industry, updates from other branch achievements, games conducted at each branch, etc. Daily mailers includes a series of e-mails or information from the HR Department to all the employees of Chola MS. The email was sent to the employees on a series (each day a different concept) Spoonful of Wisdom: Mailers that includes quotes or sayings by famous personality; Be inspired: Mailers on successful stories of any famous personality (Mostly Business Personality); Spotlight on you: Mailers regarding the employees of Chola MS that includes some of their funny experiences in life, Success, past life; Leader Speak: Mailers regarding great leaders or successful business personalitys life story or their sayings; Last Laugh: Mailers that has jokes with cartoon pictures in it. Employees get their daily mailers from HR Dept, which is dropped in to their company email id at Chola Connect. So it becomes a normal email where they access it very easily. Table.1. Effectiveness of Employee Engagement S.No Parameters No. of . Respondents (360) 1 Overall Rating of Daily HR Mailers Bad 1 Poor 0 Fair 47 Good 198 Excellent 114 2 How often do you visit Chola connect? Daily Weekly Monthly Never Do you participate in the online contests rolled out? Yes No 89 220 43 8

Inference

0.3 0 13.0 55.0 31.7 25 61 12 2

Majority of the respondents felt good about the daily mailers and were being engaged in the activity. 86% of the respondents visited regularly to read daily mailers.

Online contests are not popular. 147 213 41 59

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Series Name Excellent Good Fair Poor Bad Spoonful of wisdom 29% 56% 14% 0% 0% Be inspired 33% 53% 14% 0% 0% Spotlight on you 23% 53% 23% 1% 1% Leader speak 36% 49% 14% 1% 0% Last Laugh 23% 53% 21% 2% 2% Table.2. Rating of Quality of Content & Usefulness of Daily HR Mailers The employees appreciated the content of different daily mailers. The Leader Speak mailer has earned highest score. The employees also given feedback that the content of the mail be precise which make the series more effective. TheBe inspired and Spoonful of Wisdom were also highly rated. The Last Laugh column containing jokes were appreciated but suggested not to repeat the jokes. Spotlight on you mailer highlights each employee with their achievements in their tasks, and other personal achievements and their funny experiences. The employees were invited to contribute snippets to make the column interesting. Conclusion The Employee Engagement programme run by the HR department at Chola MS is found to have huge participation and realized as very beneficial. The most engaged employees have a deep understanding and emotional engagement with the strategic goals of the firm. The reason why employee engagement programmes are so important is, because the performance of the firm can be considerably improved as a result of them. It is the notion that employee engagement is a desirable condition, has an organizational purpose, and connotes involvement, commitment, passion, enthusiasm, focused effort, and energy, so it has both attitudinal and behavioral components. Engagement as a psychological state has variously embraced one or more of several related ideas, each in turn representing some form of absorption, attachment, and/or enthusiasm. Work and family are the two major domains in most people's lives and, contrary to what many think, they can never be entirely separate. People who are disengaged or unhappy at work are stressed and this causes them to be anxious and unable to give full of themselves to their families or communities. Some managers think the idea of fun at work may be difficult, but having fun can indeed boost job satisfaction, engagement and productivity. The employee engagement programmes enhances the employee morale and an enthusiastic employee is always more productive. References Clampitt, P. (2005). Communicating for Managerial Effectiveness, Thousand Oaks, CA: Sage Publications, Inc Jenny Dawkins (2004). Corporate responsibility: The communication challenge. Journal of Communication Management, 2004; p.108 Larkin, TJ and Larkin S. (1994). "Communicating Change: winning employee support for new business goals", New York, NY: McGraw-Hill, Inc. Macleod D, Clarke N (2009) Engaging for Success: enhancing performance through employee engagement, Department for Business Innovation and Skills, www.bis.gov.uk, http://www.berr.gov.uk/files/file52215.pdf Stohl, C. (1995). "Organizational Communication: connectedness in action", Thousand Oaks, CA: Sage Publications Inc

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IMPACT OF OCCUPATIONAL STRESS AMONG EMPLOYEES IN WORK ENVIRONMENT

Dr. B. SRIPIRABAA, Associate Professor, GRG School of Management Studies, Peelamedu Coimbatore 641004, A.S.DIVYA, Assistant Professor, P.K.R. Arts College for Women, Gobichettipalayam, Erode ABSTRACT Occupational stress is a significant problem throughout the industrialized world. The prevalence of occupational stress is increasing and the negative consequences of stress for individual health and wellbeing are increasing. Researchers have identified mental health of the employees and healthy organizations as the key tool for organization effectiveness. The present study reports the Impact of Occupational Stress among employees in a textile mill in Coimbatore district. This paper examines a wide range of factors including health disorder factors, infrastructure factors, nature of work factors, interpersonal relationship factors, control factors and outcome factors that cause stress among the employees. Respondents for the study comprise employees working in the chosen organization and were selected through convenience sampling. Structured questionnaire was used to collect the primary data. Secondary data was collected from books, journals and websites. The collected data was analyzed using diverse tools such as percentage analysis, descriptive statistics and One-way analysis of variance. Results of the study reveal that majority of the employees suffers stress due to different kinds of problems like health related, infrastructure related, nature of work related, control related and job outcome prevailing at their work environment. Healthy organizations are likely to be those which are successful in maintaining and retaining a workforce characterized by good physical, psychological, and mental health, hence the organization should have due focus on these parameters to exercise control on employees stress in their occupation. Keywords: Occupational Stress, Mental Health, Work, Job Outcome, Psychological INTRODUCTION The current economic situation is recession. Though India has not affected that much like other countries (US, Europe etc.), but the impact of those countries made certain obligations. This recession has paved the way for retrenchments, poor purchasing power of the people, unemployments and so and on. All these are the sources of occupational stress and now the need arises to understand about the occupational stress and the strategies to cope up their organizations, employers, employees and for themselves. Stress is a term that is widely used in everyday life with most people having some appreciation about its meaning. Commonly it is believed to occur in situations where there is excessive pressure being placed on someone. Occupational stress is a major hazard for many workers. Increased workloads, downsizing, overtime, hostile work environments and shift work are just a few of the many causes of stressful working conditions. Stress is an inevitable component of human life. Prior research has demonstrated that occupational stress can have detrimental effects upon peoples and, subsequently, upon their

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performance in the workplace. Many research studies have demonstrated that a high level of exposure to work stress lowers the psychological welfare of the people. The human body has a natural chemical response to a threat or demand, commonly known as the flight or fight reaction, which includes the release of adrenalin. Once the threat or demand is over, the body can return to its natural state. A STRESSOR is an event or set of conditions that causes a stress response. STRESS is the bodys physiological response to the stressor. Occupational stress can affect health when the stressors of the workplace exceed the employees ability to have some control over their situation or to cope in other ways. For example: Workers are overburdened with workloads that remain high regardless of their efforts: the workload is the STRESSOR. Employees feel anxious and their heart rate speeds up because they can not control their workloads: that is STRESS.t STATEMENT OF THE PROBLEM An occupational stress is a condition where the employees especially will feel undesirable and being threat in the organization. According to Marisa (2008), some people use the term stress to refer to a bad boss or unpleasant situation that they were exposed to. Sometimes, they will become unsafe in their work in the organization because of the condition. Occupational stress is thought to affect individuals psychological and physical health as well as organization effectiveness in an adverse manner. This statement provides practical advice how to deal with stress. From this research, we will investigate the impact of occupational stress among employees. Thus, will decrease trustworthy of employees towards their leader or supervisor and indirectly will give negative impact. Also, this study is to determine the outcomes of occupational stress that occur among employees which can give effect to the organization. OBJECTIVES OF THE STUDY To identify the major factors (like health disorder factors, infrastructure factors, nature of work factors, interpersonal relationship factors, control factors and outcome factors) that causes stress among the employees. To assess the various problems faced by the employees through stress pertaining to their occupation. To find whether the employees are satisfied with the provisions and facilities provided by the management that makes them not to be stressed due to their work. To render valuable suggestions to the management with regards to the stress management activities that they could offer to their employees for their well being. LITERATURE REVIEW Occupational stress in many fields has been studied extensively. The review of literatures revealed that the bulk of research regarding job stress which has been conducted in different sectors at many places. The study carried out by McCarty, Zhao and Garland, (2007) the occupational stress and burnout between male and female police officers. The study revealed that male and female officers did not report significantly different levels of occupational stress and burnout. The multivariate analysis of their research revealed that, though there are similar predictors of stress and burnout for male and female officers, differences did exit, lending support to the female officers experience unique stressors in the police organization. The means of the

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dependent variable, work-related stress indicate that female officers reported a slightly higher level of work-related stress (13.58) than their male counterparts (13.47). In contrast to the work-related stress findings, male officers expressed higher levels of burnout (10.61) than their female counterparts (10.13) in the police department. Redfern, Rees and Rowlands, (2001) is their study about occupational stress analyzed the publications and statements from trade unions and employers representatives. The study revealed an emerging consensus surrounding definitions of occupational stress based upon the UK Health and Safety Executives definition. However, the analysis of the trade union and employer representatives publications also revealed ongoing differences in views about the main causes of occupational stress. Smith, Brice, Collins, Matthews and McNamara, (2000) is their study analyzed the impact of demographic factors and job type on the scale of occupational stress. The results of this research have shown that there are clearly some groups of employees who report statistically significantly higher levels of work-related stress than average. This analysis is mainly based on the statistical significance testing. The exceptions were that there were higher proportions of males than females in the high reported stress category in those with no secondary school qualifications and the lowest salary group. In contrast, there were higher proportions of females than males in the high reported stress category in social class III, all the salary groups except the lowest and in the full-time employment group. Marital status was related to the reporting of stress with those who were widowed / divorced or separated generally having a higher proportion in the high reported stress category. This was significant for females, those in the 50 + age group, those educated to degree level, the highest salary group and those in full-time employment. There were generally higher proportions in the high reported stress category in the middle age groups. This was significant for males, those who were single, those educated to degree level, social class II, those in full-time employment and those in the most stressful jobs. Coeter and Rothmann, (2002) conducted a study about occupational stress of employees in an insurance company. The analysis of this research was done using ASSET. On the psychological level, the following items were identified as major sources of concern: Feeling unable to cope, and Mood swings. Reassuring is the fact that the population indicates that it does not revert to smoking and drinking in order to alleviate their stress. The differences for various biographical groups of employees in an insurance company were analyzed in terms of perceived stress as reflected by the results of the ASSET. The results showed that job insecurity as well as pay and benefits were the highest stressors in the insurance industry. Compared to an International norm, relatively high scores were obtained on physical and psychological ill health. Two stressors, namely job characteristics and control were statistically significant predictors of the two components of organizational commitment which were included in this study. Physical ill health was best predicted by two stressors, namely overload and job characteristics. Psychological unwell-being was best predicted by three stressors, namely work-life balance, overload and job characteristics. It was alarming to note that self reported physical and psychological ill health in the insurance industry was high compared to the scores of an international norm. Agolla, (2009) has conducted a research based on occupational stress among police officers of Botswana police service. The purpose of this study was to find out the general levels of stress symptoms among the police officers, reaction to stressors and sources of police stress in the work place. The study demonstrated the experience of Botswana police service

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officers in the context of their daily routine duties. The findings revealed that the job of policing is highly stressful and the level of police stress is high. The highest rated symptoms were: feeling lack of energy (M = 4.66; SD = 4.05); loss of personal enjoyment (M = 3.88; SD = 4.02); increase in appetite (M = 3.77; SD = 4.00); trouble in concentrating (M = 3.71; SD = 4.74); feeling restless (M = 3.65; SD = 4.75); people at home make feel anxious (M = 3.33; SD=3.05); feeling tense, experience pain at my neck or back (M = 3.26; SD = 3.07); feeling tense, anxiety, nervous and indigestion (M = 2.82; SD = 3.07). Teo and Waters, (2002) conducted a study in order to identify the role of human resource practices in reducing occupational stress and strain. This study examined the occupational stress-strain relationship among a sample of 109 white-collar employees in Singapore. The participants of this survey assessed the presence of 8 human resource practices (job training, communication, job redesign, promotional opportunities, employee involvement, familyfriendly policies, pay systems and individual-focused stress interventions), 2 major stressors (role overload and responsibility), 2 types of strain (vocational and interpersonal) and organizational commitment. The results of this research indicate that human resource (HR) practices did not reduce the sources of stress (role overload and responsibility) within the workplace. However, there was a direct negative relationship between HR practices and interpersonal strain. In particular, family-friendly practices, job training, and SMIs reduced interpersonal strain. An examination of vocational strain showed that it was negatively associated with SMIs and job training. Cai, Li, MD and Zhang, (2008) conducted a study regarding workplace stressors and coping strategies among Chinese psychiatric nurses. The findings of this research revealed that workload and dealing with death / dying were the greatest workplace stressors, positive coping strategies were the most often used coping strategies. The study indicated that workload and death/dying were the most frequently cited workplace stressors for psychiatric nurses. In their study of hospital nurses working in a variety of clinical sites, found workload and death/dying to be the top two identified workplace stressors. The fact that workload was identified in this study, as well as in prior studies, as the most frequently identified workplace stressor probably suggests that, regardless of culture, workload is the primary workplace stressor for nurses. These psychiatric nurses were worried about being attacked by patients, but at the same time, they were aware of patient suicide or loss. Because of the particularity of psychiatric patients, in most cases relatives are not present when an incident occurs; therefore, it is difficult for relatives to understand what happened to the patient. Some relatives view the nurses as responsible for the incident. In addition, Chinese mainland nurses receive little training about how to deal with death or dying patients. When the incident occurs, they do not know how to express their feelings and how to console their patients relatives. All these factors cause great stresses on psychiatric nurses. Ling, (1991) conducted a study regarding occupational stress among Hong Kong aided secondary school teachers. It was found that teacher background characteristics were related to job strain. Teachers of lower forms and of higher professional rank suffered from high level of strain in job dissatisfactions. Younger teachers reported a high level of strain in bodily and affective complaints. In this study he has put forward that, all measures of job stress were found to have significant and positive correlations with job strain. The 3 stress factors were found to be predictive of job strain in job dissatisfactions, whereas the strain variable bodily and affective complaints were predicted by work overload and needs deficiency. It has been found that the component variables of teachers' perceived stress are not positively correlated. Supervisor and coworker support were negatively and significantly

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correlated with job stress in needs deficiency and job future ambiguity. Needs deficiency was predicted by coworker and supervisor support, whereas job future ambiguity by coworker support only. The findings show that social support has main or additive effect on teacher stress. Thus, the component variables of teachers' perceived social support are not negatively correlated. The study also indicated that social support had main effect on strain. All types of social support were negatively and significantly correlated with strain in job dissatisfactions. Moreover, supervisor and coworker support was found to be predictive of job dissatisfactions. Based on these it has been found that component variables of teachers' perceived social support are not negatively correlated with and have no contributions to the component variables of teachers' perceived stress can be rejected. Nyssen, Hansez, Baele, Lamy and Keyser (2002) conducted a study on occupational stress and burnout in anesthesia identified. The mean stress level in anesthetists was 50.6, which is no higher than we found in other working populations. The three main sources of stress reported were a lack of control over time management, work planning and risks. Anesthetists reported high empowerment, high work commitment, high job challenge and high satisfaction. However, 40.4% of the groups were suffering from high emotional exhaustion (burnout); the highest rate was in young trainees under 30 years of age. FACTORS IDENTIFIED FOR THE STUDY The factors identified for the study were health disorder factors, infrastructure factors, nature of work factors, interpersonal relationship factors, control factors and outcome factors. Health disorder factors: Headache, Anxiety, Chest pain, Indigestion, Sleeplessness, Irritability, Bach ache, Neck ache, Stomach disorders, Inability to concentrate. Infrastructure factors: Noise, Poor or inadequate lighting, Excessive heat, Excessive smoke, Overcrowding, Poor ventilation, Dust or fumes, Poor maintenance of equipment. Nature of work factors: Shift work, Inadequate break or meal times, Unsocial hours, Very heavy workload, Unfair distribution of work, Repetitive or boring work, Meeting deadlines, Job security, Poor supervision, Underutilization of skills. Interpersonal relationship factors: Poor relations with supervisors, Poor relations with workmates, Harassment or discrimination, Impersonal treatment, Lack of communication from management. Control factors: Work plan, Participation in decision making, have control over the pace, No control. Outcome factors: Underpaid, undervalued, Receive appreciation. METHODOLOGY The research purpose and research questions revealed that this study was primarily descriptive. The questionnaire contained nine sections, comprising of questions related to the variables demographic profile of the respondents, health disorder factors, infrastructure factors, nature of work, interpersonal relationship factors, control factors, outcome factors, job in general and stress contributory factors. The responses for the variables relating to stress were never, sometimes and often and these variables were labeled as never (1), sometimes (2) and often (3). Primary data was collected from the respondents using the

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questionnaire. Hence, a sample representing the employees amounting to 100 respondents were included for the study. The employees were selected at random spread over the various departments. The collected data was analyzed using diverse tools such as percentage analysis, descriptive statistics and One-way analysis of variance. Percentage analysis was used to analyze the demographic profile of the respondents and descriptive statistics for the variables relating to stress (like health disorder factors, infrastructure factors, nature of work factors, interpersonal relationship factors, control factors and outcome factors). Finally, oneway analysis of variance was used to determine the variability of the responses regarding the stress related factors as perceived by the respondents pertaining to the diverse demographic factors considered for the study. ANALYSIS AND DISCUSSION: Data analysis was performed in three parts. The first part presents the percentage analysis, the second and third section that of descriptive statistics and One-way analysis of variance respectively. Percentage Analysis: Percent analysis was done for the demographic variables namely age, gender, marital status, educational qualification, current experience, total experience, departments and family type of the employees. Table 1: Demographic profile of the respondents Simplex 16 Spinning 40 Number of Demographic Variable Particulars Winding 20 respondents Joint 37 Less than 25 years 1 Family type Nuclear 63 26 to 45 years 14 Age 46 to 55 years 64 56 to 65 years 21 More than 66 years 0 Male 76 Gender Female 24 Married 90 Marital Status Unmarried 8 Divorce 2 8th standard 52 Educational Qualification 10th standard 33 12 standard 15 Less than 15 years 7 Current Experience 16-25 years 12 26-35 years 73 More than 36 years 8 Less than 15 years 4 16-25 years 10 Total Experience 26-35 years 76 More than 36 years 10 Mixing 4 Blowing 4 Carding 12 Combing 2 Department Drawing 2

16.0 40.0 Percentage 20.0 37.0 1.0 63.0 14.0 64.0 21.0 0.0 76.0 24.0 90.0 8.0 2.0 52.0 33.0 15.0 7.0 12.0 73.0 8.0 4.0 10.0 76.0 10.0 4.0 4.0 12.0 2.0 2.0

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Descriptive statistics: The descriptive statistics was used to find out the mean value of the variables relating to average health disorder factors, average infrastructure factors, average nature of work factors, average interpersonal related factors, average control related factors and average outcome factors. Table 2: Descriptive statistics Factors Particulars N 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 Mean 1.6900 1.3300 1.2100 1.1400 1.8000 1.1400 1.2700 1.2000 1.0600 1.0400 1.1400 1.2900 1.8300 1.0600 1.0400 1.9200 2.5800 1.4600 1.0200 1.0400 1.3400 Standard Deviation 0.64659 0.63652 0.45605 0.40252 0.60302 0.42687 0.60059 0.55048 0.31205 0.19695 0.44992 0.53739 0.76614 0.34289 0.19695 0.58049 0.57172 0.29319 0.68785 0.20000 0.28141 0.68490 0.20000 0.56595 0.85019 0.00000 0.22270 0.47183 0.14071 0.10000 0.17145 0.19695

Headache Anxiety Chest pain Indigestion Sleeplessness Irritability Health disorder Bach ache factors Neck ache Stomach disorders Inability to concentrate Noise Poor or inadequate lighting Excessive heat Excessive smoke Infrastructure Overcrowding factors Poor ventilation Dust or fumes Poor maintenance of equipment Shift work Inadequate break or meal times Unsocial hours Very heavy workload Unfair distribution of work Nature factors of work Repetitive or boring work Meeting deadlines Job security Poor supervision Underutilization of skills Interpersonal relationship factors Poor relations with supervisors Poor relations with workmates Harassment or discrimination Impersonal treatment

100 1.0700

100 1.0200 100 1.2700 100 1.6200 100 1.0000 100 1.0300 100 1.1400 100 1.0200 100 1.0100 100 1.0300 100 1.0400

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Control factors

Outcome factors

Lack of communication from 100 1.4100 management Work plan 100 2.9400 Participation in decision making 100 2.9600 Have control over the pace 100 2.9400 No control 100 1.0600 Underpaid 100 2.9400 Under valued 100 2.9400 Receive appreciation 100 1.1800

0.57022 0.31205 0.19695 0.31205 0.34289 0.31205 0.31205 0.43531

Table 2 shows that for all the questions, the mean values were differing from one (1) to three (3). This shows that the response of the respondent has varied between never, sometimes and often. The standard deviation for job security is zero, and hence it implies that there is no difference in the opinion among the respondents. For health disorder factors, nature of work factors and interpersonal relationship factors, the mean ranges below two (2) that is between never and sometimes. The mean ranges between one (1) never to three (3) often, in infrastructure factors (namely dust or fumes), control factors (namely work plan, participation in decision-making and have control over the pace) and outcome factors namely (underpaid and under valued). One Way Analysis of Variance: One way analysis of variance was performed to identify the impact of the factors such as health disorder factors, infrastructure factors, nature of work factors and outcome factors based on their departments the among the employees based on their departments. Variability of mean opinion of the respondents for health disorder factors, factors, nature of work factors and outcome factors based on their departments Table 3 Sum of Mean Particulars Differences df F Squares Square Between Groups 6.461 7 0.923 2.431 Headache Within Groups 34.929 92 0.380 Total 41.390 99 Between Groups 12.418 7 1.774 5.894 Anxiety Within Groups 27.692 92 0.301 Total 40.110 99 Between Groups 2.865 7 0.409 2.124 Chest pain Within Groups 17.725 92 0.193 Total 20.590 99 Between Groups 1.861 7 0.266 1.725 Indigestion Within Groups 14.179 92 0.154 Total 16.040 99 Between Groups 2.421 7 0.346 0.948 Sleeplessness Within Groups 33.579 92 0.365 infrastructure

Significance 0.025

0.000

0.049

0.113

0.474

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Total Between Groups Irritability Within Groups Total Between Groups Back ache Within Groups Total Between Groups Neck ache Within Groups Total Between Groups Stomach disorders Within Groups Total Between Groups Inability to Within Groups concentrate Total Between Groups Noise Within Groups Total Between Groups Poor or Within Groups inadequate Total lighting Between Groups Excessive heat Within Groups Total Between Groups Excessive smoke Within Groups Total Between Groups Overcrowding Within Groups Total Between Groups Poor ventilation Within Groups Total Between Groups Dust or fumes Within Groups Total Between Groups Poor maintenance Within Groups of equipment Total

36.000 5.340 12.700 18.040 10.923 24.787 35.710 15.975 14.025 30.000 1.440 8.200 9.640 1.040 2.800 3.840 8.515 11.525 20.040 6.523 22.067 28.590 17.435 40.675 58.110 3.840 7.800 11.640 0.940 2.900 3.840 4.385 28.975 33.360 10.147 22.213 32.360 1.285 7.225 8.510

99 7 92 99 7 92 99 7 92 99 7 92 99 7 92 99 7 92 99 7 92 99 7 92 99 7 92 99 7 92 99 7 92 99 7 92 99 7 92 99

0.763 0.138 1.560 0.269 2.282 0.152 0.206 0.089 0.149 0.030 1.216 0.125 0.932 0.240 2.491 0.442 0.549 0.085 0.134 0.032 0.626 .315 1.450 0.241 0.184 0.079

5.526

0.000

5.791

0.000

14.970 0.000

2.308

0.033

4.882

0.000

9.710

0.000

3.885

0.001

5.634

0.000

6.470

0.000

4.260

0.000

1.989

0.065

6.004

0.000

2.338

0.031

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Between Groups 6.161 7 0.880 1.990 0.065 Within Groups 40.679 92 0.442 Total 46.840 99 Between Groups 0.160 7 0.023 0.553 0.792 Inadequate break Within Groups 3.800 92 0.041 or meal times Total 3.960 99 Between Groups 3.840 7 0.549 12.617 0.000 Unsocial hours Within Groups 4.000 92 0.043 Total 7.840 99 Between Groups 22.073 7 3.153 11.906 0.000 Very heavy Within Groups 24.367 92 0.265 workload Total 46.440 99 Between Groups 0.160 7 0.023 0.553 0.792 Unfair Within Groups 3.800 92 0.041 distribution of Total 3.960 99 work Between Groups 14.693 7 2.099 11.348 0.000 Repetitive or Within Groups 17.017 92 0.185 boring work Total 31.710 99 Between Groups 40.160 7 5.737 16.809 0.000 Within Groups 31.400 92 0.341 Meeting deadlines Total 71.560 99 Between Groups 0.000 7 0.000 . . Job security Within Groups 0.000 92 0.000 Total 0.000 99 Between Groups 0.510 7 0.073 1.523 0.169 Poor supervision Within Groups 4.400 92 0.048 Total 4.910 99 Between Groups 6.515 7 0.931 5.515 0.000 Underutilization Within Groups 15.525 92 0.169 of skills Total 22.040 99 Between Groups 0.698 7 0.100 1.026 0.418 Under paid Within Groups 8.942 92 0.097 Total 9.640 99 Between Groups 0.698 7 0.100 1.026 0.418 Under valued Within Groups 8.942 92 0.097 Total 9.640 99 Between Groups 5.922 7 0.846 6.063 0.000 Receive Within Groups 12.837 92 0.140 appreciation Total 18.760 99 Table 3 shows that variables from health disorder factors, infrastructure factors, nature of work factors and outcome factors are below significance. Under health disorder factors, head Shift work

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ache, anxiety, chest pain, irritability, back ache, neck ache, stomach disorder, inability to concentrate are below significance. The infrastructure factors which are under significant are noise, poor or inadequate lighting, excessive heat, excessive smoke, overcrowding, dust or fumes, poor maintenance of equipment. Unsocial hours, very heavy workload, repetitive or boring work, meeting deadlines and underutilization of skills are nature of work factors and receive appreciation is outcome factor which are below significance, which implies that the respondents differed significantly in their perception pertaining to the above variables. FINDINGS The findings of the study from percentage Analysis, descriptive statistics, and one way analysis of variance test are presented. Findings from percentage Analysis 64% of the employees were in the age group of 46 to 55 years, 21% of employees were in the age group of 55 to 65 years, 14% of the employees were in the age group of 26-45 years and 1% of the employee was in the age group of below 25 years. 76% of the respondents were male employees and 24% of the respondents were female employees. 90% of the employees were married. 8% of the employees were unmarried and remaining 2% were divorced employees. 52% of the employees were 8th standard, 33% of them were 10th standard and 15% of the employees were 12th standard. 73% of the employees had current experience for about 26 to 35 years, 12% of the employees had current experience for about 16 to 25 years, 8% of the employees had current experience for about more than 36 years and a least percentage of 7% had current experience for about less than 15 years. 76% of the employees had total experience about 26 to 35 years, 10% of the employees had total experience about 16 to 25 years, 10% of the employees had total experience about more than 36 years and remaining percentage of 4% had total experience for less than 15 years. 40% of the employees were from spinning department, 20% of the employees were from winding department, 16% of the employees from simplex department, 12% of the employees were from carding department, 4% of the employees were from mixing department, 4% of the employees from blowing department, 2% of the employees were from combing department and 2% of the employees were from drawing department. 63% of the respondents were from nuclear family and 37% of the respondents were from joint family. Findings from Descriptive statistics: Employees felt that these are the certain factors which are likely to induce stress namely dust or fumes, work plan, participation in decision making, control over the pace, underpaid, undervalued and not receiving appreciation. Findings from Analysis of Variance: The analysis of variance revealed that the variability of mean opinion of the respondents based on their departments had difference in significance regarding health disorder factors, infrastructure factors, nature of work factors and outcome factors.

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SUGGESTIONS This study has revealed that the stress has been likely to induce the majority of the respondents due to certain stressors which was found in different factors namely health disorder, infrastructure, nature of work, interpersonal, control and outcome factors. Here different suggestions have been put forth in order to overcome from these stress inducing factors (called stressors) at work. The stressors in health disorder factors, infrastructure factors, nature of work factors; control factors and outcome factors are the factors, which are likely to induce stress at work. Organization can look into health disorder of their employees and remedial measures can be taken in order to make their employees physically and mentally fit. Proper working conditions will help them to be free from these kinds of health related stressors and in turn, the productivity of the employees becomes more. Meeting deadlines is the nature of work factor had the difference in respondents perception. Since the deadline has been fixed, at times the employees are not comfortable enough to achieve those prefixed deadlines, which cause them stress. This stressor of nature of work can be avoided by changing the deadlines slightly according to the employees or involve them in setting deadlines. Not receiving appreciation for good work is one and only contributory factor for stress or stressor. The employees can be appreciated and in turn, some extra benefits can be given which will motivate and encourage other employees too. Hence, these are all the suggestions that can be taken into consideration in order to overcome these stress related problems in this organization. This will provide their employees to be free from stress and in turn, they can contribute more towards their organizations growth and development. This will enhance their productivity and satisfaction towards their occupation. CONCLUSION According to the results of this study different factors namely health disorder, infrastructure, nature of work, interpersonal, control and outcome factors have been analyzed and taken into consideration as findings from the study relating to occupational stress among employees in work environment. These are the factors which are likely to cause stress can be modified by taking necessary steps like providing comfortable work environment which wont cause any illness to the employees, making employees to participate in decision making and in setting deadlines, implementing interdepartmental shifts after a period of time and motivating and appreciating employees for their good work and performance will enhance the employees and organization as such. The organization is therefore advised to take note of the impact of stress causing factors (stressors) in order to protect both the employees and the organization against the negative effects of occupational stress. If especially the health disorder factors and infrastructure factors are allowed to continue unattended, the organization can expect to encounter negative costs associated with continued, elevated levels of stress, such as burnout, absenteeism, employee turnover and lowered levels of services. This study has revealed that majority of the employees suffers stress due to different kinds of problems (like health related, infrastructure, nature of work related, control related and job outcome) prevailing at their work environment.

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REFERENCES Agolla, J. E., (2009), Occupational stress among police officers: The case of Botswana police service. Academic Journals Inc., 2 (1), pp. 25-35. Alves, S. L., (2005), A study of occupational stress, scope of practice and collaboration in nurse anesthetists practicing in anesthesia care team settings. AANA Journal, 73 (6). Barkhuizen, N. and Rothmann, S., Occupational stress of academic staff in south African higher education institutions. South African Journal of Psychology, 38 (2), pp. 321-336. Cai, Z., Li, K. and Zhang, X., (2008), Workplace stressors and coping strategies among Chinese psychiatric nurses. Perspectives in Psychiatric Care, 44 (4). Coetzer, W. J. and Rothmann, S., (2002), Occupational stress of employees in an Insurance company. S. Afr. J. Bus. Manage, 37 (3). Cooper Donald R., Schindler Pamela S., (2007), Business Research Methods, Special Indian Edition. Harris, J. A., Saltstone, R. and Fraboni, M., (1999), An evaluation of the job stress questionnaire with a sample of entrepreneurs. Journal of Business and Psychology, 13 (3). Hicks, R., Fujiwara, D. and Bahr, M., (2006), Confirmatory factor analysis of the occupational stress inventory-Revised among Australian teachers. Humanities and Social papers. Keith Davis, (2004) Human Behaviour at Work, Organizational Bjjehaviour, 6th Edition, Tata McGraw Hill Book Publishing Co Limited. Kirkcaldy, B. D., Trimpop, R. M. and Williams, S., (2002), Occupational stress and health outcome among British and German managers. Journal of Managerial Psychology, 17 (6), pp. 491-505. Kothari C. R., (2004), Research Methodology, New Age International (P) Limited. Lakshminarayanan, R., An overview of strategic planning to combat occupational stress Need of the hour in the present Indian context. Lim, V. K. G. and Teo, T. S. H., (1996), Gender differences in occupational stress and coping strategies among IT personnel. Women in Management Review, 11 (1), pp. 20-28. Ling, L. M., (1991), A study of occupational stress among Hong Kong aided secondary school teachers. Master of Arts in Education Thesis. Lu, C., Siu, O. and Cooper, C. L., (2004), Managers occupational stress in China: the role of self-efficacy. Personality and Individual differences, 38 (3), pp. 569578. McCarty, W. P., Zhao, J.S. and Garland, B.E., (2007), Occupational stress and burnout between male and female police officers. International Journal of Policies, Strategies and Management, 30 (4), pp. 672-691. McNamara, S. M. and Liyanarachchi, G. A., (2008), Time budget pressure and auditor dysfunctional behaviour within an occupational stress model. Accountancy Business and the Public Interest, 7 (1). Mostert, F. F., Rothmann, S., Mostert, K. and Nell, K., (2008), Outcomes of occupational stress in a higher education institution. Southern African Business Review, 12 (3).

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AN EMPIRICAL STUDY ON EMPLOYEE ENGAGEMENT Dr.P.PARAMANANDAM, GRG School of Management Studies, PSGR Krishnammal College for Women, Coimbatore. ABSTRACT Employee engagement is an individuals involvement with, satisfaction with, and enthusiasm for, the work he or she does (Robbins, 2011). Highly engaged employees have a passion for their work and feel a deep connection to their company; disengaged employees have essentially checked out putting time but not energy or attention into their work. An engaged employee is aware of the business context, and works with colleagues to improve performance on the job for the benefit of the organization. Employee engagement is a positive attitude held by the employees towards the organization and its values. The purpose of this study was to gain a clear understanding of the factors most closely associated with

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driving employee engagement. Sample of sixty employees working in an auto component manufacturing company were randomly selected for the study. A structured questionnaire with a five point Likert scale was used to collect data. The questionnaire had twenty six items based on the Right Management Global Benchmarking Employee Engagement Study, 2008. The collected data was subjected to Factor Analysis using SPSS to identify the key factors which drive employee engagement. Twenty six variables in the data have been reduced to five factors and each factor has been given a name. Key Words: Career, Disengagement, Engagement, Comprehension, Role Perception, Work life Balance. Leadership, Organisational

INTRODUCTION Employee engagement is an individuals involvement with, satisfaction with, and enthusiasm for, the work he or she does (Robbins, 2011). Kahn (1990) defines employee engagement as the harnessing of organization members selves to their work roles; in engagement, people employ and express themselves physically, cognitively, and emotionally during role performances. The cognitive aspect of employee engagement relates to employees beliefs about the organisation, its leaders and working conditions. The emotional aspect relates to how employees feel about each of those three factors and whether they have positive or negative attitudes toward the organisation and its leaders. The physical aspect of employee engagement relates to the physical energies exerted by individuals to accomplish their roles. Thus, according to Kahn (1990), engagement means to be psychologically as well as physically present when occupying and performing an organisational role. An engaged employee is aware of business context, and works with colleagues to improve performance within the job for the benefit of the organization. The organization must work to develop and nurture engagement, which requires a two-way relationship between employer and employee. Thus Employee engagement is a measure that determines the association of a person with the organization. A successful employee engagement strategy helps create a community at the workplace and not just a workforce. When employees are effectively and positively engaged with their organisation, they form an emotional connection with the company. This affects their attitude towards both their colleagues and the companys clients and improves customer satisfaction and service levels. According to the Gallup, the Consulting organization, there are different types of Employees: engaged, not- engaged and actively disengaged. "Engaged" employees are builders. They want to know the desired expectations for their role so they can meet and exceed them. They're naturally curious about their company and their place in it. They perform at consistently high levels. Not-engaged employees tend to concentrate on tasks rather than the goals and outcomes they are expected to accomplish. They want to be told what to do just so they can do it and say they have finished. They focus on accomplishing tasks versus achieving an outcome. The "actively disengaged" employees are the "cave dwellers." They're "Consistently against Virtually Everything." They're not just unhappy at work; they're busy acting out their unhappiness. REVIEW OF LITERATURE Kahn (1990) undertook a qualitative study on the psychological conditions of personal engagement and disengagement by interviewing summer camp counsellors and staff at an

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architecture firm about their moments of engagement and disengagement at work. He defined disengagement as the decoupling of the self within the role, involving the individual withdrawing and defending themselves during role performances. Disengaged employees displayed incomplete role performances and were effortless, automatic or robotic. Kahn found that there were three psychological conditions related with engagement or disengagement at work: meaningfulness, safety, and availability. He argued that people asked themselves three fundamental questions in each role situation: (i) How meaningful is it for me to bring myself into this performance; (ii) How safe is it to do so? and (iii) How available am I to do so? He found that workers were more engaged at work in situations that offered them more psychological meaningfulness and psychological safety, and when they were more psychologically available. May et al (2004) conducted a study and found that meaningfulness, safety, and availability were significantly related to engagement. They also found job enrichment and role fit to be positive predictors of meaningfulness; rewarding coworker and supportive supervisor relations were positive predictors of safety, while adherence to co-worker norms and selfconsciousness were negative predictors. Resources were a positive predictor of psychological availability, while participation in outside activities was a negative predictor. Overall, meaningfulness was found to have the strongest relation to different employee outcomes in terms of engagement. The Gallup Organisation (2004) found critical links between employee engagement, customer loyalty, business growth and profitability. They compared the scores of these variables among a sample of stores scoring in the top 25 per cent on employee engagement and customer loyalty with those in the bottom 25 per cent. Stores in the bottom 25 per cent significantly under-performed across three productivity measures: sales, customer complaints and turnover. In 2004, International Survey Research (ISR), the international research consultancy, completed a major survey into the nature and causes of employee engagement and how companies can improve engagement to enhance business performance. The survey was conducted across ten of the worlds largest economies - Australia, Brazil, Canada, France, Germany, Hong Kong, the Netherlands, Singapore, the UK and the USA, involving nearly 160,000 employees from across a broad spectrum of industries. The survey highlights large variations among the 10 countries in terms of employees overall commitment to, and involvement with their employers. For example, in Brazil and in the US, 75 per cent of employees were found to be engaged with their companies, whilst only 59 percent of French employees were engaged. The research demonstrates that one size does not fit all when it comes to motivating employees to engage with their company and work. For example, in Australia, Singapore, and Hong Kong, the extent to which company management is respected emerged as an influential determinant of engagement. In the UK and US, on the other hand, a more important factor was the degree to which organisations provide long-term employment and career opportunities. Jyotsna Bhatnagar, (2007), conducted a study to investigate talent management and its relationship to levels of employee engagement using a mixed method research design. The first phase was a survey on a sample of 272 BPO/ITES employees, using Gallup Workplace Audit. Focus group interview discussion was based on reasons for attrition and the unique problems of employee engagement. In the second phase, one of the BPO organizations from the phase I sample was chosen at random and exit interview data was analyzed using factor

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analysis and content analysis. The results were in the expected direction and fulfilled the research aims of the current study. In the first phase low factor loadings indicated low engagement scores at the beginning of the career and at completion of 16 months with the organization. High factor loadings at intermediate stages of employment were indicative of high engagement levels, but the interview data reflected that this may mean high loyalty, but only for a limited time. In the second phase factor loadings indicated three distinct factors of organizational culture, career planning along with incentives and organizational support. The first two were indicative of high attrition. The present study indicated that a good level of engagement may lead to high retention, but only for a limited time in the ITES sector. OBJECTIVE OF THE STUDY The objective of the study was to identify the factors which drive employee engagement. METHODOLOGY A convenience sample consisting of 60 employees working in an auto component manufacturing company participated in the study. A structured, self-administered questionnaire with a 5 point Likert scale was used for data collection. The questionnaire contained twenty six statements relating to employee engagement based on the Right Management Global Benchmarking Employee Engagement Study, 2008. Responses were collected on these statements and were scored as follows: Strongly Disagree = 1, Disagree = 2, Neither Disagree nor Agree = 3, Agree = 4, Strongly Agree = 5. The collected data was subjected to Factor Analysis. RESULTS AND DISCUSSION This section presents the analysis of the data collected from the respondents. Table 1 provides the demographic characteristics of the sample. Table 1 Demographic characteristics of the Sample Number of Demographic factors Classification Respondents Below 30 12 30-40 14 Age ( in years) 40-50 18 Above 50 16 Male 46 Gender Female 14 Diploma 23 Graduate 24 Education Post graduate 13 Freshers 12 Work Experience 1-5 16 (in years) 5 - 10 32 Below 10000 26 Income 10000-15000 10 (in rupees) 15000-20000 24

Percent 20.0 23.3 30.0 26.7 76.7 23.3 38.3 40.0 21.7 20.0 26.7 53.3 43.3 16.7 40.0

Among the 60 respondents, 18 (30.0%) belong to below 40-50 years age group and 16 (26.7%) belong to above 50 age group; 46 (76.7%) are male; 24 (40.0%) are graduates and 23 (38.3%) are diploma holders; 32 (53.3%) belong to 5-10 years experience group; and 26 (43.3%) belong to below 10000 income group.

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FACTOR ANALYSIS Twenty Six statements pertaining to employee engagement were subjected to Factor Analysis. Correlation matrix was computed to test the suitability of the data for Factor Analysis and the results were found to be satisfactory. Table 2 KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .751 Bartlett's Test of Sphericity Approx. Chi-Square 167.83 df 325 Sig. .000 Bartletts Test of Sphericity was calculated to find whether the number of correlations among variables is statistically significant or not. Kaiser-Meyer-Olkin was found to be 0.751 and Bartletts test of Sphericity was also significant (Chi-Square value = 167.83, df =325, significance = 0.000) indicating the suitability of the data for factor analysis. Factor Extraction Using the Principal Component Analysis three factors have been extracted based on the variance (Eigen value greater than 1). The variance explained by the initial solution, extracted components, and rotated components are displayed in table 3. Table 3 Total Variance Explained Extraction Method: Principal Component Analysis The five factors extracted together account for 77.972 % of the total variance (information contained in the original sixteen variables).

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On the extraction initially, factor one is able to explain 51.07 % of variance, factor two explains 9.90 % , factor three explains 7.71 %, factor four explains 5.348 and factor five explains 3.93% of variance. The initial and extracted communalities were computed along with the rotated components using varimax rotation and are displayed in table 4. Table 4 Rotated Component MatrixVARIABLES 1 Q1 I am committed to my organizations core values Compo nent Initial Eigen Values Total COMPONENT 2 3 4

% of Cumulative Variance % 1 13.279 51.074 51.074 2 2.574 9.900 60.974 3 2.005 7.713 68.688 4 1.390 5.348 74.036 5 1.023 3.936 77.972 6 .869 3.341 81.313 7 .733 2.821 84.133 8 .596 2.292 86.425 9 .526 2.021 88.446 10 .512 1.968 90.414 11 .472 1.816 92.229 12 .365 1.405 93.635 13 .266 1.023 94.658 14 .257 .988 95.646 15 .209 .804 96.450 16 .191 .735 97.185 17 .158 .608 97.793 18 .123 .475 98.268 19 .103 .397 98.665 20 .092 .356 99.021 21 .074 .283 99.304 22 .061 .236 99.540 23 .052 .201 99.741 24 .034 .131 99.872 25 .019 .073 99.945 26 .014 .055 100.000 Q2 My opinions count Q3 Understanding of what is expected Q4 Understand how can I contribute to meeting the needs of customers Q5 I have been fairly rewarded Q6 Senior leaders value employees Q7 Everyone is treated with respect at work Q8 I can concentrate on my job Q9 My personal work objectives are linked to business plan

.866 Extraction Sums of Squared Loadings % of Cumulative Total Variance % 13.279 51.074 51.074 2.574 9.900 60.974 2.005 7.713 68.688 1.390 5.348 74.036 1.023 3.936 77.972

Rotation Sum Load %o Total Varian 5.425 20.86 5.270 20.26 4.018 15.45 3.018 11.60 2.542 9.77

.616 .772 .879 .654 .516 .511 .574 .616

.8

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Q10 I clearly understand my organisations mission .623 Q11 Senior leaders have the capacity to make the organization successful .564 Q12 I am encouraged to take ownership of my work .532 Q13 My organization is involved in supporting the community .534 Q14 There are career opportunities for me at my organisation .837 Q15 I can balance work and personal interests at my organisation .703 Q16 Organisation allows me to balance my family and work life .676 Q17 The amount of pressure I experience in my role is reasonable .519 Q18 I have the authority that I need to do my job well .723 Q19 There is sufficient incentive to perform well .86 Q20 My pay is competitive compared to similar jobs .84 Q21 My immediate manager gives me the support I need .708 Q22 People in my organization have the capability to do their jobs .746 effectively Q23 My organization is effective in attracting and retaining talent .596 Q24 My organization actively promotes health and well-being .638 .592 Q25 My organization invests in peoples learning and development .703 Q26 Our customers think highly of our products and services .763 Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a. Rotation converged in 9 iterations. Factor analysis technique helps to reduce the number of variables and to detect structure in the relationships between variables. Variables V6, V9, V11, V15, V18, V23, V24, V25, and V26 have high loadings on Factor 1. This suggests that Factor 1 is a combination of these variables. Analysis of these variables led the researcher to name this Factor 1 as organizational comprehension. Variables V1, V3, V4, and V9 have high loadings on Factor 2. So Factor 2 is a combination of these four variables. This factor can be called role clarity. Variables V12, V13, V16, V17, V21 and V22 have high loadings on Factor 3. This Factor can be called perceived organizational support. Variables V2, V7, V8, V10, and V14 have high loadings on Factor 4. This Factor can be called work environment. Variables V5, V19, and V20 have high loadings on Factor 5. This Factor can be called reward. Thus twenty six variables in the data have been reduced to five factors and each factor has been given a name. The five factors are organizational comprehension, role clarity, perceived organizational support, work environment and reward. CONCLUSION The objective of the study was to identify the factors which drive employee engagement. A convenience sample consisting of 60 employees working in an auto component manufacturing company participated in the study. A structured, self-administered questionnaire with a 5 point Likert scale was used for data collection. The collected data was subjected to Factor Analysis. Twenty six variables in the data have been reduced to five factors and each factor has been given a name. The five factors are organizational comprehension, role clarity, perceived organizational support, work environment and rewards.

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REFERENCES: Jyotsna Bhatnagar, (2007),"Talent management strategy of employee engagement in Indian ITES employees: key to retention", Employee Relations, Vol. 29 (6), 640 663. Kahn, W.A. (1990) Psychological conditions of personal engagement and disengagement at work, Academy of Management Journal, Vol 33, 692-724. Kanungo, R.N. (1982) Measurement of job and work involvement, Jourmal of Applied Psychology, Vol 67, 341-349. Purcell, J., Kinnie, N., Hutchinson, S., Rayton, B. and Swart, J. (2003) Understanding the People and Performance Link: Unlocking the Black Box. London, CIPD. Purcell, J. (2006) Change Agenda, Reflections on Employee Engagement. London, CIPD. Richman, A. (2006) Everyone wants an engaged workforce how can you create it? Workspan, Vol 49, 36-39. Robinson, I. (2006) Human Resource Management in Organisations. London, CIPD. Robbins, Stephen P, et al (2010), Organizational Behavior, Prentice Hall, New Delhi Robinson, D., Perryman, S. and Hayday, S. (2004) The Drivers of Employee Engagement. Brighton, Institute for Employment Studies. Saks, A.M. (2006) Antecedents and consequences of employee engagement, Journal of Managerial Psychology, Vol 21, No 6,600-619. Schaufeli, W.B. and Bakker, A.B. (2004) Job demands, job resources, and their relationship with burnout and engagement: a multi-sample study, Journal of Organisational Behaviour, Vol 25, 293-315. Seijts, G.H and Crim, D. (2006) What engages employees the most or, the ten Cs of employee engagement, Ivey Business Journal, March/April, 1-5. Shaw, K. (2005) An engagement strategy process for communicators, StrategicCommunication Management, Vol 9, No 3, 26-29. Welbourne, Ts.M. (2007) Employee engagement: Beyond the fad and into the executive suite, Leader to Leader, Spring, 45- 51. Wilson, F. (2004) Organisational Behaviour and Work, A Critical Introduction. 2nd ed. Oxford, Oxford University Press. Yeung, R. (2006) Getting engaged, Accountancy, Vol 138, No 1360, 58-59.

SUBJECTIVE WELL-BEING AMONG THE MANAGERIAL PERSONNEL OF TEXTILE INDUSTRY

Dr.P.PARAMANANDAM, GRG School of Management Studies, PSGR Krishnammal College for Women, Coimbatore. ABSTRACT Subjective well-being is defined as a persons cognitive and affective evaluations of his or her life (Diener, Lucas, & Oshi, 2002). The cognitive element refers to what one thinks about his or her life satisfaction in global terms (life as a whole) and in domain terms (in specific areas of life such as work, relationships, etc.). The affective element refers to emotions, moods and feelings. A person who has a high level of satisfaction with their life, and who experiences a greater positive affect and little or less negative affect, would be

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deemed to have a high level of SWB. The three components of SWB, life satisfaction, positive affect and negative affect, are independent factors that should be measured and studied separately (Andrews & Withey, 1976, Lucas et al., 1996). The present study was to explore subjective well-being among the managers of textile industry. A convenience sample consisting of 36 managers participated in the study. The Oxford Happiness Questionnaire developed by psychologists Michael Argyle and Peter Hills at Oxford University was used to assess SWB among the managers. The questionnaire contains twenty nine items with a six point Likert scale. The collected data was analysed with various statistical tools and the results were discussed. Key Words: Affect, Happiness, Satisfaction, and Subjective well-being. INTRODUCTION Subjective well-being is defined as a persons cognitive and affective evaluations of his or herlife (Diener, Lucas, & Oshi, 2002). The cognitive element refers to what one thinks about his or her life satisfaction in global terms (life as a whole) and in domain terms (in specific areas of life such as work, relationships, etc.). The affective element refers to emotions, moods and feelings. A person who has a high level of satisfaction with their life, and who experiences a greater positive affect and little or less negative affect, would be deemed to have a high level of SWB. The three components of SWB, life satisfaction, positive affect and negative affect, are independent factors that should be measured and studied separately (Andrews & Withey, 1976). The concept of SWB falls within the hedonic perspective that defines well-being or happiness as being fundamentally about maximising pleasure and avoiding or minimizing pain. This differs from the eudiamonic perspective which, as Waterman (1993) stated, is where one lives in accordance with ones diamon, or true self. This perspective places focus on meaning in life and self-realization, and the extent to which a person fully integrates this into his or her life. Personality appears to be one of the strongest and most consistent predictors of SWB. Explanations and support for the relationship between personality and SWB comes from a number of research studies and theories. According to the dynamic equilibrium model (Headey & Waring, 1992) although an event in ones life can influence an individuals SWB, the individual will eventually adapt to the change experienced and return to his or her biologically determined set point or level of adaptation. According to the hedonic treadmill theory (Brickman and Campbell, 1971), individuals adapt quickly to changes in their lifestyles and return to their baseline levels of happiness, a theory which is consistent to the dynamic equilibrium model. Exceptions to the adaptation rule include death of a loved one such as a spouse or child, where individuals adapt very little to their baseline level of happiness or not at all, and noise, where individuals almost never adapt (Frederick and Loewenstein, 1999). REVIEW OF LITERATURE Rugulies (2002) reported a meta-analysis of 11 studies examining whether depression predicts coronary heart disease. It was concluded that depression predicts cardiovascular disease in initially healthy people, with a greater risk for clinical depression than for depressed mood. Lyubomirsky, King, and Diener (2005) in a meta-analysis of longitudinal studies found differences in health outcomes for low versus high SWB individuals. Similarly, Howell, Kern, and Lyubomirsky (2007) reviewed 49 prospective studies testing the predictive power

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of long-term well-being and ill-being, and found an overall effect size of .14 for longevity, comparing high and low SWB subjects. Pressman and Cohen (2005) found evidence suggesting that positive affect is associated with physical health and longevity in normal populations, but concluded that the evidence is mixed for positive affect predicting survival in those with existing disease. Marsland et al. (2006) followed healthy graduate students after a Hepatitis B vaccination. Dispositional positive affect predicted a stronger antibody response, and was largely independent of negative affect and optimism. Marsland, Pressman, and Cohen (2007) based on a study concluded that both positive and negative mood states can heighten immune responding, but that only long-term positive emotion traits predict greater immune competence independently of negative affect. Chida and Steptoe (2008) conducted a meta-analysis of the prospective studies examining the association between positive well-being and mortality in both healthy and diseased populations. Positive psychological well-being was related to lower mortality in both healthy and diseased populations, independently of negative effect. Positive moods such as joy, happiness, and energy, as well as characteristics such as life satisfaction, hopefulness, optimism, and sense of humor were associated with reduced risk of mortality in healthy populations, and predicted longevity, controlling for negative states. Positive states were associated with reduced death rates in patients with HIV and renal failure. In the healthy population studies, higher quality studies yielded evidence of greater protective effects. In the disease population studies the protective effects were greater when baseline disease and treatment were controlled. Segerstrom and Sephton (2010) found among first-year law students that changes in both optimism and positive affect across time were associated with changes in immune responses. The effects of each persisted when controlled for the other, but were reduced to about half of their former strength. This dynamic relation over time suggests that increasing positive affect strengthens immunity, and that the relation between the two is not due simply to inborn temperament or stable differences in life circumstances. HYPOTHESES The present study was aimed at exploring subjective well-being among the managerial personnel of textile industry. H1: There will be no significant difference in subjective well-being among the respondents of different age groups. H2: There will be no significant difference in subjective well-being among the respondents of different gender. H3: There will be no significant difference in subjective well-being among the respondents of different marital status groups. H4: There will be no significant difference in subjective well-being among the respondents of different number of dependents groups. H5: There will be no significant difference in subjective well-being among the respondents of different experience groups. H6: There will be no significant difference in subjective well-being among the respondents of different income groups.

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METHODOLOGY A convenience sample consisting of 36 managers working in textile industry participated in the study. The Oxford Happiness Questionnaire developed by psychologists Michael Argyle and Peter Hills at Oxford University was used to assess SWB among the managers. The questionnaire contains twenty nine items with a six point Likert scale. The responses were scored as follows: 1 = strongly disagree, 2 = moderately disagree, 3 = slightly disagree, 4 = slightly agree, 5 = moderately agree, and 6 = strongly agree. The collected data was analysed with various statistical tools. RESULTS AND DISCUSSION This section presents the analysis of the data collected from the respondents. Table 1 provides the demographic characteristics of the sample. Table 1: Demographic characteristics of the Sample Number of Percent Respondents Less than 30 21 58.3 Age ( in years) 30 & above 15 41.7 Gender. Male 20 55.6 Female 16 44.4 Married 12 33.3 Marital status Single 24 66.7 Less than 4 14 38.9 Number of dependents 4 & above 22 61.1 Less than 6 20 55.6 Work Experience (in years) 6 & above 16 44.4 Less than 15000 20 55.6 Income (in rupees) 15000 & above 16 44.4 Among the 36 respondents, 21 (58.3%) belong to less than 30 years age group; 20 (55.6%) are male; 24 (66.7%) are single; 22 (61.1%) have 4 or more than 4 dependents; 20 (55.6%) belong to less than 6 years experience group; and 20 (55.6%) belong to less than 15000 income group. Table 2: t Test for Equality of Means Demographic factors Classification VARIABLE Group Less than 30 30 & above Male Female Single Married SWB Mean 91.14 117.93 105.35 98.50 95.83 105.54 Std Deviation 11.612 - 26.790 12.770 15.598 20.363 15.444 18.512 6.850 9.708 1.144 -1.562 .261 .128 -6.548 .000 Mean Difference tvalue Significance

AGE

GENDER MARITAL STATUS

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A higher level of subjective well-being was observed among the 30 & above age group (Mean = 117.93); male respondents (Mean = 105.35) and married respondents (Mean = 105.54). Hypothesis 1 stating that there will be no significant difference in subjective wellbeing among the respondents of different age groups was not supported (t = -6.548, p = .000). Hypothesis 2 stating that there will be no significant difference in subjective wellbeing among the respondents of different gender was supported (t = 1.144, p = .261). Hypothesis 3 stating that there will be no significant difference in subjective well-being among the respondents of different marital status groups was supported (t = -1.562, p = .128). Table 3: t Test for Equality of Means Std Mean SWB Group Deviat Differ Mean ion ence Less than 4 111.79 14.391 15.513 4 & above 96.27 17.605 Less than 6 92.25 11.424 6 & above 114.88 16.792 22.625 Less than 15000 94.50 13.153 15000 & above 112.06 18.674 17.562

VARIABLE NUMBER OF DEPENDENTS EXPERIENCE INCOME

tvalue 2.758 4.802 3.308

Signif icance .009 .000

.002

A higher level of subjective well-being was observed among the less than 4 number of dependents group (Mean = 111.79); 6 & above experience group (Mean = 114.88) and 15000 & above income group (Mean = 112.06). Hypothesis 4 stating that there will be no significant difference in subjective well-being among the respondents of different number of dependents groups was not supported (t = 2.758, p = .009). Hypothesis 5 stating that there will be no significant difference in subjective well-being among the respondents of different experience groups was not supported (t = -4.802, p = .000). Hypothesis 6 stating that there will be no significant difference in subjective well-being among the respondents of different income groups was also not supported (t = -3.308, p = .002). CONCLUSION Subjective Well-being means peoples evaluations of their lives, which can be judgements such as life satisfaction, and evaluations based on feelings, including moods and emotions. When people feel a sad mood or a joyful emotion it is because they evaluate something in their lives as going well or badly. Thus, SWB is a heterogeneous category that includes diverse phenomena ranging from optimism to low anger to work satisfaction. The present study was aimed at exploring subjective well-being among the managerial personnel of textile industry. A convenience sample consisting of 36 managers working in textile industry participated in the study. The Oxford Happiness Questionnaire developed by psychologists Michael Argyle and Peter Hills at Oxford University was used to assess SWB among the managers. The questionnaire contains twenty nine items with a six point Likert scale. A higher level of subjective well-being was observed among the 30 & above age group; male respondents; married respondents; less than 4 number of dependents group; 6 & above experience group; and 15000 & above income group. Significant difference in subjective well-being was observed among the respondents of different age groups, number of dependents groups, experience groups and income groups. No significant difference in subjective well-being was observed among male and female respondents and also among the married and unmarried respondents.

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REFERENCES Abel, E. L., & Kruger, M. L. (2010). Smile intensity in photographs predicts longevity. Psychological Science, 21, 542-544. Barnett, J. L., & Hemsworth, P. H. (1990). The validity of physiological and behavioural measures of animal welfare. Applied Animal Behaviour Science, 25, 177-187. Bjornskov, C. (2008). Healthy and happy in Europe? On the association between happiness and life expectancy over time. Social Science and Medicine, 66 , 17501759 Boissy, A., Manteuffel, G., Jensen, M. B., Moe, R. O., Spruijt, B., Keeling, L. J., Winckler, C., et al. (2007). Assessment of positive emotions in animals to improve their welfare. Physiology & Behavior, 92, 375-397. Brummett, B. H., Boyle, S. H., Siegler, I. C., Williams, R. B., Mark, D. B., & Barefoot, J. C. (2005). Ratings of positive and depressive emotion as predictors of mortality in coronary patients. International Journal of Cardiology, 100, 213-216. Burton, C. M., & King, L. A. (2004). The health benefits of writing about intensely positive experiences. Journal of Research in Personality, 38, 150-163. Chida, Y., & Steptoe, A. (2008). Positive psychological well-being and mortality: a quantitative review of prospective observational studies. Psychosomatic Medicine, 70, 741-756. Collins, A. L., Goldman, N., & Rodrguez, G. (2008). Is positive well-being protective of mobility limitations among older adults? The Journals of Gerontology. Series B, Psychological Sciences and Social Sciences, 63, 321-327. Davidson, R.J. (2004). Well-being and affective style: neural substrate and biobehavioural correlates. Philosophical Transactions of The Royal Society B, 359, 1395-1411. Diener, E., Lucas, R., & Scollon, C. N. (2006). Beyond the hedonic treadmill: Revising the adaptation theory of well-being. American Psychologist, 61, 305-314. Herbert, T. B., & Cohen, S. (1993). Stress and immunity in humans: A metaanalytic review. Psychosomatic Medicine, 55, 364-379. Kahneman, D. (1965). Control of spurious association and the reliability of the controlled variable. Psychological Bulletin. 64, 326-329. Lyubomirsky, S., King, L., & Diener, E. (2005). The benefits of frequent positive affect: Does happiness lead to success? Psychological Bulletin, 131, 803-855. Marsland, A. L., Cohen, S., Rabin, B. S., & Manuck, S. B. (2006). Trait positive affect and antibody response to hepatitis B vaccination. Brain, Behavior, and Immunity, 20, 261-269. Marsland, A. L., Pressman, S., & Cohen, S. (2007). Positive affect and immune function. In R. Ader (Ed.), Psychoneuroimmunology (4th ed., Vol. 2, pp. 761-779). San Diego, CA: Elsevier Pressman, S. D., & Cohen, S. (2005). Does positive affect influence health? Psychological Bulletin, 131, 925-971. Rugulies, R. (2002). Depression as a predictor for coronary heart disease. American Journal of Preventive Medicine, 23, 51-61 Segerstrom, S. C., & Sephton, S. E. (2010). Optimistic expectancies and cellmediated immunity: The role of positive affect. Psychological Science, 21, 448455.

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Steptoe, A., Dockray, S., & Wardle, J. (2009). Positive affect and psychobiological processes relevant to health. Journal of Personality, 77, 1747-1776.

QUALITY OF WORK LIFE AND ITS RELEVANCE AMONG EMPLOYEES IN A FOUNDRY UNIT
Dr. B. SRIPIRABAA, Associate Professor, GRG School of Management Studies Peelamedu, Coimbatore 641004 Ms. Y. BENAZIR, Assistant Professor, Department of Business Management, PSGR Krishnammal College for Women Peelamedu, Coimbatore 641004 ABSTRACT Recent organizational changes have refocused attention on the productivity and performance of sales representatives and consequently brought about a re-evaluation of the Quality of Work Life these employees experience, as well as their trust in the organization to support them. In today's high tech, fast-paced world, the work environment is very different than it was a generation ago. Employees are often willing to leave a company for better opportunities; companies need to find ways not only to hire qualified people, but also to retain them. Quality of work life affects the satisfaction level of employees. If quality of work life at work could be improved, it is to enhance the productivity and the satisfaction of employees that rewards and benefits the organization and society as a whole. It is about the content of relationship between the employees and their total working environment. Hence a study was conducted to investigate the various dimensions that determine the employees Quality of Work Life in a Foundry Unit. The dimension of the study includes Job Security, Good Working Conditions, Adequate and Fair Compensation, Developing Human Capacities, Social Integration, Balanced relationships, Constitutionalism. The study was descriptive in nature and adopted survey strategy. Data was collected through a questionnaire. The findings of the study provide insight on the dimensions that organizations need to focus to enhance the Quality of Work Life of its employees. Key Words: Quality of Work Life, Negative Factors, Benefits and Rewards, Job Security, Working Conditions, Productivity 1.0 INTRODUCTION In recent decades, the various consequences of a series of technological, economic, social and cultural changes with substantial impacts on quality of life and work. Broad societal dynamics like those associated with globalization, the so-called knowledge society or demographic changes,. These dynamics also deeply affect the configuration of employment, family and leisure and are therefore particularly important to heads of companies, organizations, trade unions and employers association. All these far-reaching changes also offer considerable opportunities for improving quality of life and work, which means that at several levels of social structuring, important research, understanding and decision-making tasks are appearing for political and organizational leaders. It is important to mitigate the negative effects that the main trends that enhance the positive aspects. In recent years, there has been increasing concern for QWL due to several factors like, Increase in education level and job aspirations of respondent, Association of workers, Significance of human resource management, Widespread industrial unrest, Growth of knowledge is human behavior, etc. Quality of Work Life is a level of satisfaction, motivation, involvement and commitment where individuals experience with respect to their lives at work. It is the degree to which the

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employees are able to satisfy their personal needs with in the constraints of the organizations policies and rules frames etc. QWL means the quality of relationship between respondent and the total working environment. It seeks to create those conditions in organization which Promote individual learning and development, Provide individuals with influence and control over what they do and how they do it, Make individuals work interesting and meaningful. It is the center of a persons life and a worker as a whole individual rather than a half machine personality. The benefits of QWL includes the Healthier, satisfied and productive respondents, Efficient, adaptive and profitable organization, Greater self esteem, Improved job satisfaction and involvement, Stronger commitment to Organizational goals, Improved physical and psychological goals, Greater growth and development of the individual as a person and a productive member , Decreased absenteeism and turnover and fewer accidents. To be successful, QWL programmes must be planned thoroughly. The aspirations and attitudes of workers must be examined closely before launching any programme. The work must be studied carefully and a congenial work atmosphere must be provided where the work itself provokes on their own. Above all, supervisors and line managers must be adequately trained to interact with respondent in a friendly and democratic manner. 1.1 STATEMENT OF THE PROBLEM Quality of Work Life in an organization is essential for the smooth running and success of its employees. The work-life balance must be maintained effectively to ensure that all employees are running at their peak potential and free from stress and strain. Quality of Work Life helps the employees to feel secure and like they are being thought of and cared for by the organization in which they work. This being the real fact and since there was absenteeism and lack of job satisfaction among the workers, the attempt has been taken in this regard and has undertaken the current study to analyze the dimensions that influences the Quality of Work Life among workers. 1.2 OBJECTIVES OF THE STUDY To understand the factors that prevents respondent from enjoying a better Quality of Work Life. To study about the employer and employee relationship. To study about the job satisfaction of the employees. To study about the safety, health and welfare measures provided by the organization To analyze the measures adopted by the organization to improve the quality of work life among workers. 2.0 LITERATURE REVIEW In this chapter the literature review related to the research is delivered. First, it reviews different definitions and informations related to Quality of work life of employees. It also explains about the dimensions relating to the study and conceptual model of QWL. Finally, the hypothesis will be discussed. Maslows Needs theory were seen relevant in covering Health & safety, Economic and family, Social, Esteem, Actualizations, Knowledge and Aesthetics, although the relevance of non-work aspects is play down as attention is focused on quality of work life rather than the broader concept of quality of life.

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Eminent Scholars such as Geoffrey Miller (2000), Stephen Pinker (2002), Cosmides and Tooley (1989) and David Buss (1998) has confirmed from their research, four fundamental concepts considering the social settings were Trust, Reciprocity, Fairness and democracy. A study of lace and may (1998) specifically their win-win paradigm, for quality of work life and business performance, suggests that a proper business strategy and human resources policies can actually benefit all the key stake holders. The key concepts captured and discussed were Job security, Better reward system, Higher pay, Opportunity for growth, Participatory groups. Elizur and Shye,(1990) argued that the specific attention to work-related aspects of quality of life is valid. Warr and colleagues (1979), in an investigation of Quality of working life, considered a range of apparently relevant factors, including work involvement, intrinsic job motivation, higher order need strength, perceived intrinsic job characteristics, job satisfaction, life satisfaction, happiness, and self-rated anxiety. In particular, Warr et al. found evidence for a moderate association between total job satisfaction and total life satisfaction and happiness, with a less strong, but significant association with self-rated anxiety. Taylor (1979) more pragmatically identified the essential components of Quality of working life as; basic extrinsic job factors of wages, hours and working conditions, and the intrinsic job notions of the nature of the work itself. He suggested that a number of other aspects could be added, including; individual power, employee participation in the management, fairness and equity, social support, use of ones present skills, self development, a meaningful future at work, social relevance of the work or product, effect on extra work activities. Taylor suggested that relevant Quality of working life concepts may vary according to organization and employee group. The investigation made by Mirvis and Lawler (1984) suggested that Quality of work life was associated with satisfaction with wages, hours and working conditions, describing the basic elements of a good quality of work life as safe work environment, equitable wages, equal employment opportunities and opportunities for advancement. Baba and Jamal (1991) recommends that the typical indicators of quality of working life, including: job satisfaction, job involvement, work role ambiguity, work role conflict, work role overload, job stress, organizational commitment and turn-over intentions. Bertrand and Scott (1992) in their study Designing Quality into Work Life found that improvements in the quality of work life are achieved not only through external or structural modifications, but more importantly through improved relations between supervisors and subordinates. Datta (1999) revealed that a Human Values Approach say that in a deeper sense, quality of work life refers to the quality of life of individuals in their working organizationscommercial, educational, cultural, religious, philanthropic or whatever they are. Modern society is organizational society. Individuals spend much of their lives in organizations. Vasudevan.c (1999) found that the organization may provide better working conditions, reduce the hours of work and provide more career advancement opportunities for the enhancement of The quality of work life. Sirgy et al.; (2001) revealed that the key factors in quality of working life are: Need satisfaction based on job requirements, Work environment, Supervisory

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behaviors, Ancillary programme, and Organizational commitment with the outcome through resources, activities, and outcomes stemming from participation in the workplace. Rebecca chinney kurunilla(2002) has suggested that the worker may increase the investment in work place learning, this may help the workers in their selfdevelopment and the management can improve the effectiveness of supervisors and team leaders. Mary veronica, (2006) had carried out a project in Life Insurance Corporation of India and she suggested for a recreation club through which the management can organize family get together once in three months or six months which definitely will help to improve the respondent mortality coordination and team spirit in a best way. Normala and Daud (2010) in their study Investigating the Relationship between Quality of Work Life and Organizational Commitment Amongst Employees in Malaysian Firms say that the quality of work life of employees is an important consideration for employers interested in improving employees job satisfaction and commitment.

2.1 CONCEPTUAL MODEL FOR THE BETTER QUALITY OF WORK LIFE

Fair Compensati on
HAPPY AND SATISFIED RETENTION

Safe Healthy Work

And

EMPLOYEE ENGAGEMENT
HIGHER PRODUCTIVITY DECREASED TURNOVER

3.0 METHODOLOGY: The study was descriptive in nature and adopted survey strategy. In addition the study adopted quantitative approach. A model was formulated by viewing the related literature and thereby making the research hypothesis. The model explained the link between Fair Compensation, Safe and Healthy Work Condition, Developing Human Capacities, Opportunity for Career Growth, Social Integration and Constitutionalism. Data was collected using a questionnaire. Questions in the last part of the questionnaire were assessed using a five point Likert scale with end points of strongly agree and strongly disagree. Sample was taken in two different phases. To ensure the survey sample represented the population, probability and non-probability sampling method were adopted.

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Data collected through questionnaires from employees through convenience sampling and in through random sampling. Data was collected from the employees using the tested questionnaire. The developed instrument was pilot tested using simple percentage analysis for the variables relating to satisfaction. 3.1 ANALYSIS AND DISCUSSION: Data analysis is made in to three parts. The first part consists of Percentage Analysis, Second part is Chi-Square test and the third part is the Anova test. 3.2 PERCENTAGE ANALYSIS: It is used to compare the relative terms and distributions of two or more data that has been shown in a single table. TABLE NO 1 Twice in a month 96 100 Demographic Factor Variable Respondents Percentage 4 4.17 21-30 Yrs 0 0 Frequently 31-40 Yrs 48 50 Age 14 14.58 Rarely 37 38.54 41-50 Yrs Job Interference with Family Life Never 82 85.42 7 7.29 51-60Yrs 40 41.67 1000-2000 0 Hour 60 62.5 2001-5000 46 47.91 Monthly Income 36 37.5 0-1 Hour 10 10.42 5001-10000 Hours of Relaxation 0 0 >2 days 1-5 Yrs Yes 5-10Yrs No >10Yrs I shift II shift III shift IV shift Daily Wage Salary 1-10 Days More than 10 Days Yes No Once in a week Once in a month 20 31 33 65 43 40 23 18 15 0 96 42 54 96 0 0 0 20.83 32.29 34.38 67.71 44.79 41.67 23.96 18.75 15.62 0 100 43.75 56.25 100 0 0 0

Duration the Job Any otherOf Jobs

Preferred Shifts

Type of Payment

Extra hours beyond Work

Permissions Allowed

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In percentile Factor Work Requires Concentration Innovativeness in job Satisfaction comes from job Learning new things Skills and abilities Treated with respect Trusting of management Safety and health Promotions Fringe benefits Threatened or harassed Relationship with management Satisfaction remuneration on monthly SA 81.25 22.92 31.25 84.38 95.83 95.83 93.75 93.75 76.04 53.3 94.80 52.08 A 18.75 51.04 12.5 15.62 4.17 4.17 6.25 6.25 20.83 44.79 5.20 47.92 N 26.04 51.04 3.13 2.08 DA 5.21 15.63 SDA 84.37 -

3.3 CHI-SQUARE TEST: Chi-square is most suitable test to compare the obtained set of observed frequencies in given categories with a set of theoretical of expected frequencies with in them. 3.3.1.COMPARING AGE WITH THE SATISFACTION THE EMPLOYEE GETS FROM THE WORK LIFE: NULL HYPOTHESIS: There is no significant difference between the employees age and the hours of relaxation that the employees get from their job. ALTERNATIVE HYPOTHESIS: There is significant difference between the employees age and the hours of relaxation that the employees get from their job.

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LEVELOF SIGNIFICANCE: 5% Level HOURS OF RELAXATION OF EMPLOYEES AGE 21-30 31-40 41- 50 51-60 TOTAL 0- HOURS 3 28 24 5 60 0-1 HOURS 1 20 13 2 36 > 2 HOURS 0 0 0 0 0 TOTAL 4 48 37 7 96

Chi-Square observed value is 6 with probability 0.05. The expected value of chi-square is 14.06 for (r-1) (c-1) = 6 df. Since the observed value is greater than the expected value. The null hypothesis is rejected at 5% level of significance. Hence the age was associated with the hours of relaxation in the organization. 3.3.2. COMPARING AGE WITH ANY OTHER JOB FOR THE EMPLOYEES: NULL HYPOTHESIS: There is no significant difference between the employees age and other job for the employees. ALTERNATIVE HYPOTHESIS: There is significant difference between the employees age and other job for the employees.

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LEVEL OF SIGNIFICANCE: 5% Level ANY OTHER JOB FOR THE EMPLOYEE AGE 21-30 31-40 41- 50 51-60 TOTAL YES 1 18 10 2 31 NO 3 30 27 5 65 TOTAL 4 48 37 7 96

Chi-Square observed value is 3 with probability 0.05. The expected value of chi-square is 7.81 for (r-1) (c-1) = 3 df. Since the observed value is greater than the expected value. The null hypothesis is rejected at 5% level of significance. Hence the age was associated with the any other job in the organization. 3.3.3. COMPARING MONTHLY INCOME WITH ANY OTHER JOB FOR THE EMPLOYEES: NULL HYPOTHESIS: There is no significant difference between the employees Monthly Income and other job for the employees. ALTERNATIVE HYPOTHESIS: There is significant difference between the employees Monthly Income and other job for the employees.

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LEVEL OF SIGNIFICANCE: 5% Level ANY OTHER JOB FOR THE EMPLOYEE YES MONTHLY INCOME 1000-2000 2001-5000 5001-10000 TOTAL 10 18 3 31 30 28 7 65 40 46 10 96 NO TOTAL

Chi-Square observed value is 2 with probability 0.05. The expected value of chi-square is 5.98 for (r-1) (c-1) = 2 df. Since the observed value is greater than the expected value. The null hypothesis is rejected at 5% level of significance. Hence the monthly Income was associated with the any other job in the organization. 3.4 ANOVA TEST The technique of analysis of variance is referred as Anova. After fixing the Null Hypothesis and Alternative Hypothesis. Computation of statistics test is carried out. Sum of the Squares, Total sum of squares, between samples & with in samples are found out. Referring to the F table the value is calculated 3.4.1 COMPARING AGE WITH THE SATISFACTION THE EMPLOYEE GETS FROM THE WORK LIFE NULL HYPOTHESIS: There is no significant difference between the employees age and the satisfaction and they get from their work.

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ALTERNATIVE HYPOTHESIS: There is significant difference between the employees age and the satisfaction and they get from their work. SATISFACTION FROM WORK LIFE AGE 21-30 31-40 41- 50 51-60 TOTAL 18 12 30 SA 1 7 3 2 12 A 2 20 16 1 49 NAND 1 4 5 DA SDA 0 TOT AL 4 48 37 7 96

ANOVA TABLE SUM OF SQUARES DEGREE OF FREEDOM 4 3 13 20 LEAN OF SQUARES VARIANC E RATIO (F)

SOURCE OF VARIATION

BETWEEN THE COLUMNS BETWEEN THE ROWS RESIDUAL ERROR TOTAL

406.7 473.7 328.6 1209

101.68 FC= 4. 02 157.9 FR= 6. 24 25.28

The calculated value is less than the table value (4.02 < 6.94) so, there is no relationship between the age and the satisfaction from the work life of employees. The calculated value is less than the table value (6.24 < 6.94) so, there is no relationship between the age and the satisfaction from the work life of employees. 3.4.2 COMPARING MONTHLY INCOME WITH THE EMPLOYEES GET TO DO DIFFERENT THINGS NULL HYPOTHESIS: There is no significant difference between the employees Monthly Income and the different things get from their work.

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ALTERNATIVE HYPOTHESIS: There is significant difference between the employees Monthly Income and the different things get from their work. EMPLOYEES GET TO DO DIFFERENT THINGS IN LIFE SA A DA SDA TOTAL NAND 10 20 10 40 10 2 22 26 3 49 10 5 25 0 0 46 10 96

MONTHLYINCOME 1000-2000 2001-5000 5001-10000 TOTAL ANOVA TABLE

SOURCE OF VARIATION

SUM OF SQUARES

DEGR EE OF FREE DOM 4 2 9 15

LEAN OF SQUARES

VARIANCE RATIO (F)

BETWEEN THE COLUMNS BETWEEN THE ROWS RESIDUAL ERROR TOTAL

555.59 657.59 300.82 1514

138.89 328.79 33.42 FC= 4.155 FR= 9. 84

The calculated value is less than the table value (4.155 < 6.94) so, there is no relationship between the age and the satisfaction from the work life of employees. The calculated value is less than the table value (9.84 < 6.94) so, there is no relationship between the age and the satisfaction from the work life of employees.

DISCUSSION FROM PERCENTILE ANALYSIS From the analysis of percentage it seems that majority of the population are satisfied with the working environment in an organization. DISCUSSION FROM CHI-SQUARE TEST There is no significant relationship between the age and the hours of relaxation in the organization, all the workers in the organization with different age group have the same hours of relaxation. There is significant difference between the employees age and other job for the employees, the employees in the carries out other work apart from the organization.

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There is significant relationship between the monthly Income and any other job in the organization, as the income level of the employees was seems to be less they are in to other jobs.

DISCUSSION FROM ANOVA TEST: The calculated value is less than the table value (4.02 < 6.94) so, there is no relationship between the age and the satisfaction from the work life of employees. The calculated value is less than the table value (6.24 < 6.94) so, there is no relationship between the age and the satisfaction from the work life of employees. The calculated value is less than the table value (4.155 < 6.94) so, there is no relationship between the age and the satisfaction from the work life of employees. The calculated value is less than the table value (9.84 < 6.94) so, there is no relationship between the age and the satisfaction from the work life of employees. THEORETICAL IMPLICATIONS: Patients confronted with a life-threatening or chronic disease are faced with the necessity to accommodate to their illness. An important mediator of this adaptation process is `response shift' which involves changing internal standards, values and the conceptualization of quality of life (QWL). Integrating response shift into QWL research would allow a better understanding of how QWL is affected by changes in health status and would direct the development of reliable and valid measures for assessing changes in QWL. A theoretical model is proposed to clarify and predict changes in QWL as a result of the interaction of: (a) a catalyst, referring to changes in the respondent's health status; (b) antecedents, pertaining to stable or dispositional characteristics of the individual (e.g. personality); (c) mechanisms, encompassing behavioral, cognitive, or affective processes to accommodate the changes in health status (e.g. initiating social comparisons, reordering goals); and (d) response shift, defined as changes in the meaning of one's self-evaluation of QWL resulting from changes in internal standards, values, or conceptualization. A dynamic feedback loop aimed at maintaining or improving the perception of QWL is also postulated. This model is illustrated and the underlying assumptions are discussed. Future research directions are outlined that may further the investigation of response shift, by testing specific hypotheses and predictions about the QWL domains and the clinical and psychosocial conditions that would potentiate or prevent response shift effects. PRACTICAL IMPLICATIONS: In recent years, total quality management (TQM) has become something of a social movement in the United States. This commentary returns to the writings of the movement's founders-W. Edwards Deming, Joseph Juran, and Kaoru Ishikawa-to assess the coherence, distinctiveness, and likely perseverance of this provocative management philosophy. We identify a number of gaps in what is known about TQM processes and outcomes and explore the congruence between TQM practices and behavioral science knowledge about motivation, learning, and change in social systems. The commentary concludes with a prognosis about the future of TQM-including some speculations about what will be needed if TQM is to take root and prosper in the years to come. SUGGESTIONS Keep telling the employees how important they are for the organization and communicate everything and anything related to them. Always discuss plans to improving facilities at the workplace even though you may not implement them during tough times like now. Appreciate employees when they try to do better and believe in your employees and entrust

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them with responsibilities. Give employees chance to resolve mistakes. Make employees to feel as a part of the company whatever they do give some recognition to their work. Hence, a number of employees are less than the management may have a one to one relationship with the employees to know their lapses so that the opinion of these employees also may be favorable. To weed of the conflicts, the management may arrange for, formal and informal meetings on a regular basis where everyone may be allowed to speak frankly all the issues concerning the work and their share towards achievements of organization goals. Above, all supervisors and line managers may be adequately trained to interact with respondents in a friendly and democratic manner. They also can provide with adequate facility of the modern technology for the employees to work more easily. CONCLUSION The Quality of Work Life plays a vital role in the organization, in order to retain and exhibit more productivity. It makes most organizations now to concentrate on the Quality of Work Life concept for the betterment of employees, which in turn benefits the organization. In the present scenario, as like the other resource in the organization, human resource is also considered as a valuable asset. In this research, the researcher identified that the Quality of Work Life is upcoming in the organization. This study will be useful to the management for knowing their pitfalls and act accordingly to overcome it. Once a better result is achieved, management expected results. It helped to understand various expectations of human resource, how to satisfy them and thereby how to increase the Quality of Work Life of employees. A happy and healthy employee will give better turnover, make good decisions and positively contribute to organizational goal. An assured good quality of work life will not only attract young and new talents but also retain the existing experienced talents. Quality of work life can affect such things as employees timings, his or her work output, his or her available leaves, etc. Work life balance must be maintained effectively to ensure that all employees are running at their peak potential and free from stress and strain. So it is up to the organization to focus on their workers and improve their quality of work life so that attrition, Absenteeism and decline in workers productivity can be checked. Necessary suggestions were given by the investigator for the same. REFERENCES BOOKS Gupta, C.B., Human Resource Management , Sultan Chand, 1999 Prasad, L.M, Human Resource Management , Sultan Chand & Sons, 2005 Kothari C.R, Research Methodology , New Delhi, Vikas Publishing House, 1967 Tripathi, P.C., Personnel Management , Bombay, Asra Publishing House, 1967 Biswwajeet pattanayak, Human Resource Management; Prentice Hall India Private Limited., Second Edition, New Delhi. Wayne F. Cascio, Managing Human Resource, Tata McGraw Hill Publishing Company Limited, Seventh Edition, New Delhi. Gupta, C.B., Human Resource Management , Sultan Chand, 1999 WEBSITE 1. www.nlc India .com 2. www.humanresourcesabout .com 3. www.hhrm.com 4. www.chrmglobal.com/Articles/183/1/Quality-of-Work-Life 5. www.citehr.com

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6. 7. 8. 9. 10.

http://www.faqs.org/abstracts/Engineering-and-manufacturing www.tradeget.com www.ibef.org www.economywatch.com www.indialine.com

JOURNALS Rethinam, Gunaseelan and Maimunah Ismail (2008), Constructs of Quality of Work Life: A Perspective of Information and Technology Professionals , European Journal of Social Sciences, Vol: 7, No. 1, p.58 Chan, Ka Wai and Thomas A. Wyatt (2007), Quality of Work Life: A Study of Employees in Shanghai, China , Asia Pacific Business Review, Vol: 13, No. 4, (Oct), pp. 501-517 Normala and Daud (2010), Investigating the Relationship Between Quality of Work Life and Organizational Commitment Amongst Employees in Malaysian Firms , International Journal of Business and Management, Vol: 5, No. 10. Datta, Tanmoy (1999), Quality of Work Life: A Human Values Approach, Journal of Human Values, Vol: 5, No. 2, (Oct), pp. 135-145

A STUDY ON INFLUENCE OF INTERNAL WORK MOTIVATION ON EMPLOYEES WORK PERFORMANCE

M.PRIYADARSHINI, M.Phil Research Scholar, Bharathiar School of Management Entrepreneur and Development Bharathiar University, Coimbatore-641046 M.BLESSY DOE M.Phil Research Scholar Bharathiar School of Management Entrepreneur and Development Bharathiar University, Coimbatore-641046 R.YAMUNA M.Phil Research Scholar Bharathiar School of Management Entrepreneur and Development Bharathiar University, Coimbatore-641046 ABSTRACT An average person puts only 25% of his energy and ability into his work. The world takes off its hat to those who put in more than 50% of their capacity, and stands on its head for those few and far between souls who devote 100%. -Andrew Carnegie, Industrialist. Motivation and performance have always been like the two sides of a same coin, they had always been in a proportional relation, i.e., an increase in motivation leads to an increase in the level of performance. Therefore it has always been an important issue to identify the various factors which affect the individual work performance and how they are influenced by motivation. Hence the current study focuses on the influence of internal work motivation on an individual employees work performance. Keywords: Internal work motivation, work performance. INTRODUCTION

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In todays globalised world, people have been literally running to reach the destination of success. In such a scenario, internal motivation is the only tool that an individual can use to attain success. [1]Motivation is one of the most important factor affecting human behaviour & performance. This is the reason why managers give great importance to motivation in organizational setting. The current study attempts to investigate the relationship between internal work motivation and work performance. Based on the literature review two hypotheses were formulated 1) there will be positive relationship between internal work motivation and work performance, and 2) Gender difference may have an influence on the variable of internal work motivation and work performance. To analyze internal work motivation, Internal work motivation questionnaire (Hackman & Oldham, 1975), and for work performance, l, 2010), were used. The sample of the study consists of 60 executives (38 males; 22 females) from different IT (BPO) companies in Coimbatore. A Pearson Correlation Coefficient was calculated for the correlation between the internal work motivation and work performance. In order to find out gender differences, T test was computed. In conclusion, the findings of the study suggest that there was a positive correlation between internal work motivation and work performance. Furthermore, there was a significant influence of gender difference on the variable of internal work motivation and work performance. REVIEWS OF LITERATURE According to Judy Cameron & W. David Pierce in their research work Reinforcement, Reward, and Intrinsic Motivation: A Meta-Analysis they focused on the effects of reinforcement/reward on intrinsic motivation. The main meta-analysis included 96 experimental studies that used between-groups designs to compare rewarded subjects to non rewarded controls on four measures of intrinsic motivation. Results indicated that, overall, reward does not decrease intrinsic motivation. Bradley E. Wright in their work on Public-Sector Work Motivation: A Review of the Current Literature and a Revised Conceptual Model Focused on the literature on work motivation in the public sector, with careful attention to the underlying theoretical assumptions of this body of work and the empirical evidence it has generated. In his article he focused on current psychological research on work motivation, as well as the theory and empirical evidence regarding the unique characteristics of public organizations and employees, and developed a revised public-sector model of work motivation that emphasizes variables such as procedural constraints, goal content, and goal commitment. According to Bourne, in their workEffects of aging on work satisfaction, performance and motivation. Reviews literature on work and aging as it relates to the areas of work satisfaction, work performance, and work motivation. Findings indicate that as people grow older, intrinsic work satisfaction becomes more important than extrinsic rewards such as money and promotion. Older workers can perform as well as their younger counterparts, but external and psychological conditions associated with aging, such as negative cultural expectations, lower self-esteem, high anxiety, and cautiousness, sometimes affect job performance and motivation. INTRINSIC MOTIVATION Intrinsic motivation occurs when people are internally motivated to do something because it either brings them pleasure, they think it is important, or they feel that what they are learning is significant. It has been shown that intrinsic motivation for education drops from grades 3-

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9 though the exact cause cannot be ascertained.[2] Also, in younger students it has been shown that contextualizing material that would otherwise be presented in an abstract manner increases the intrinsic motivation of these students.[3]According to The Journal of Educational Research, Students are likely to be intrinsically motivated if they: 1. Attribute their educational results to factors under their own control, also known as autonomy, 2. Believe they have the skill that will allow them to be effective agents in reaching desired goals (i.e. the results are not determined by luck), 3. Are interested in mastering a topic, rather than just rote-learning to achieve good grades. WORK PERFORMANCE Job performance is a commonly used, yet poorly defined concept in industrial and organizational psychology, the branch of psychology that deals with the workplace. It's also part of Human Resources Management. It most commonly refers to whether a person performs their job well. Despite the confusion over how it should be exactly defined, performance is an extremely important criterion that relates to organizational outcomes and success. Among the most commonly accepted theories of job performance comes from the work of John P. Campbell and colleagues. Susan Harter (1981), A New Self-Report Scale of Intrinsic versus Extrinsic Orientation in the Classroom: Motivational and Informational Components. [3] Diana Cordova, Mark Lepper (1995) Intrinsic Motivation and the Process of Learning: Beneficial Effects of Contextualization, Personalization, and Choice. [4] Campbell, J. P. (1990). Modeling the performance prediction problem in industrial and organizational psychology. In M. D. Dunnette & L. M. Hough (Eds.), Handbook of Industrial and Organizational Psychology (pp. 687-732). SCOPE OF THE STUDY Today the IT BPO industry is proving to be one of the blooming industries in India and plays a significant role in the economy worldwide, even though faced by internal competition, the only competitive advantage they have is through their motivational personnel that deliver quality service. Thus its important for management to ensure that managers are work place motivated through which they can improvise their performance. Thus this study takes the above factors into consideration & thereby focuses on the how internal motivation within the employees may help them perform better. LIMITATIONS OF THE STUDY The survey is limited to selected locations of company. Time constraint is one of the limitations The findings are based on the responses given by only the employees of companies. So there can be a chance of bias. METHODOLOGY Measures A demographic form was filled by the participants, which included information about age, gender, and qualification, length of service, designation, and marital status. Procedure

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A pilot study was conducted at the initially among 15 IT executives. The questionnaires were then distributed to respondents and they completed the questionnaire manually. The data was collected individually. All respondents filled a demographic form which included information on age, gender, qualification, experience, designation, and marital status. The researcher gave directions for the Internal work Motivation scale first and then for the Work performance. The sample of the study consisted of 5 IT (BPO) companies in Coimbatore from which 60 executives were involved. DATA ANALYSIS The collected data was analyzed through simple percentage analysis for demographic variables , weighted average method, chi square test & correlation for internal work Motivation & work performance variables, In this survey, a weighted mean score for each item ranges from 1 to 5, where weighted average mean score of 1 indicates strongly disagree and score of 5 indicates strongly agree. For analyzing the results of the Internal work Motivation & work performance, corresponding percentage scores and overall mean score were also calculated, and the same have been presented in form of tables. WEIGHTED AVERAGE METHOD Weighted Average Method is used to calculate the average response. In this research, it is applied to determine the average influence of internal work motivation on work performance through 5 point rating scale. Chart 1 Internal Work Motivation of the respondents The above chart reveals that the responses of the IT Executives towards the internal work motivation statement, I believe that if I work hard and apply my abilities and talents, I will be successful has the highest mean (4.3) and towards the statement, I regularly set goals and objectives to achieve my vision for my job has the lowest mean (2.7). Chart 2 Work Perfomance of the respondents

The above chart reveals that the responses of the IT Executives towards the work performance statement, I successfully complete my tasks and deadlines has the highest

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mean (3.75) and towards the statement, I find creative ways and identify various options to achieve results has the lowest mean (2.75). CORRELATIONS Null hypothesis (H0): There exist no relationship between the internal work motivation and the work performance of the IT Executives. Alternate hypothesis (H1): There exist a positive relationship between the internal work motivation and the work performance of the IT Executives. Table 6 I believe that if I work I successfully complete hard and apply my my tasks and meet abilities and talents, I deadlines. will be successful. I believe that if I Pearson Correlation work hard and apply Sig. (2-tailed) my abilities and talents, I will be N successful. I successfully Pearson Correlation complete my tasks Sig. (2-tailed) and meet deadlines. N 1 .631 .000 60 1 60

60 .631 .000 60

From the above correlation table it is inferred that there exist a positive relationship between the internal work motivation and the work performance of the IT Executives. CHI-SQUARE TESTS Null hypothesis (H0): There is no association between the gender of the respondents and the influence of their internal work motivation on work performance. Alternate hypothesis (H1): There is an association between the gender of the respondents and the influence of their internal work motivation on work performance.

Table 7 Value Pearson Chi-Square 1.309 df 3 Asymp. sided) .727 Sig. (2-

It is inferred from the above table that, there is an association between the gender of the respondents and the influence of their internal work motivation on work performance.

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FINDINGS The majority of the respondents (42%) were in the age group of 26 to 35 years. Most of the respondents (63%) were male. The weighted average method revealed that the responses of the IT Executives towards the internal work motivation had the highest mean of 4.3 and for work perfomance the highest mean was calculated to be 3.75. The results of correlation revealed that there exists a positive relationship between the internal work motivation and the work performance of the IT Executives. The Chi Square test results showed that there is an association between the gender of the respondents and the influence of their internal work motivation on work performance. CONCLUSION Internal motivation is the only tool that an individual can use to attain success and performance is an extremely important criterion that relates to organizational outcomes and success. Hence the present study aimed at establishing how the internal work motivation would enhance better work performance and thus promote the growth of both the individual and the organization. REFERENCES Campbell, J. P. (1990). Modeling the performance prediction problem in industrial and organizational psychology. In M. D. Dunnette & L. M. Hough (Eds.), Handbook of Industrial and Organizational Psychology (pp. 687-732). Crant. J. M. (1995).The Proactive Personality Scale and objective job performance among real estate agents. Journal of Applied Psychology, 80, 532537. Diana Cordova, Mark Lepper (1995) Intrinsic Motivation and the Process of Learning: Beneficial Effects of Contextualization, Personalization, and Choice. Greg R. Oldham (1975) Job characteristics and inter work motivation: The moderating effect of interpersonal and individual variables Miner.J. B. (1974) Motivation to manage among women: Studies of business managers and educational administrators. Journal of Vocational Behavior, 5, 197208. Pinder, C.C. (1998) Work motivation in organizational behavior. Prentice-Hall. Ramsay, H., Scholarios, D. and Harley, B. (2000) Employees and HighPerformance Work Systems: Testing Inside the Black Box, British Journal of Industrial Relations, 38:4, pp. 501-531. Susan Harter (1981), A New Self-Report Scale of Intrinsic versus Extrinsic Orientation in the Classroom: Motivational and Informational Components. http://www.mindtools.com http://www.on.ec.gc.ca

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SUCCESSION PLANNING
Ms.S.SriDevi M.B.A., M.Phil., Lecturer, Department of Management Studies, M.P.Nachimuthu M.Jaganathan Engineering College, Chennimalai, Erode-638112 Mr.R.SatheeshKumar M.B.A., M.Phil., (Ph.D) Assistant Professor, Department of Management Studies, Mr.D.Umasankar II MBA Student M.P.Nachimuthu M.Jaganathan Engineering College, Chennimalai, Erode-638112 ABSTRACT India now becomes a player in the global stage. Everyone wants to do business with us, this change has given lot of opportunities to our country to grow further but it posed lot of challenges in front of us. How businesses & organization view human resource development of their employees should consider the employee first in the design of any learning endeavor including training, education or professional development. Effective career planning should become an inscape fact of organizational life because it helps companies meet internal staffing requirements and reduce turnover while it help employees meet their needs for challenge and achievement of career as well as organizational goals. A succession plan is a plan for identifying who is currently in post and who is available and qualified to take over in the event of retirement, voluntary retirement, dismissal or sickness. Succession Planning is generally needed for key positions at higher levels. An executive inventory report showing which individuals are ready to move into higher positions in the company. This study is based on primary data, which is collected through questionnaire and secondary data from records, journals, magazines and websites. The methodology adopted for the study is conceptual structure with the population of 160. The statistical tools such as mean value, correlation, chi square and ANOVA to measure the degree of relationship and difference of the data collected. The analyzed data is interpreted by using different charts. Based on the analysis and findings, suggestions were made. Keywords: Employee Retention, Talent Management and Training and Development. Introduction: In any business, the factors of productions are men, machine, materials and money that are very important to achieve the goals of the organization. Among the four factors man is the living being and the prior cause for the success of the organization than the other factors. SP involves having senior executives periodically review their top executives and those in the next lower to determine several backups for each senior position. This is important because it often takes years of grooming to develop effective senior manager. There is a critical shortage in companies of middle and top leaders for the next five years. Organization will need to create pools of candidates with high leadership potential. A careful and considered plan of action ensures that the least possible disruption to the persons responsibilities and therefore the organizations effectiveness. Examples include such a person who is moving to another position and different set of responsibilities within the organization. Meaning: Succession planning is: The process of ensuring a suitable supply of successors for current and future senior or key jobs arising from business strategy, so that the careers of individuals can be planned and managed to optimize the organizations needs and the individuals aspirations.

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Definition: Succession Planning is a process where by an organization ensure that employees are recruited and developed to fill each key role within the company, through your succession planning process, you recruit superior employees develop their knowledge skills and abilities and prepare them for advancement or promotion into ever more challenging roles. Through your succession planning process, you also retain superior employees because they appreciate the time, attention and development that you are investing in them. You need to identify and understand the developmental needs of your employees. You must ensure that all key employees understand their career paths and the roles they are being developed to fill. You need to be aware of employment trends in your area to know the roles you will have a difficult time filling externally. Succession Planning: Within any organization, people in leadership positions eventually cease to fulfill that role. This can occur for a variety of reasons, such as; Promotion with the organization Move to part time arrangements for better work life balance Involuntary departure from the organization Retirement Serious illness Death.

Organizations that fail to plan for the timely and effective filling of such leadership roles can be caught off guard, with the consequent disruption to normal business activities and the loss of market share. Succession planning is the preemptive process of identifying significant leadership positions that could put the organization at risk if left unfulfilled, targeting current employees that could move into such roles and grooming them for succession. Managing leadership succession effectively requires a structured approach that is agreed, understood and followed by everyone involved in the planning process. Model of Succession Planning

Baruch and Peiperl (2000) in their survey of 194 UK-based companies explained that succession management is an important characteristic of effective career management. Baruch and Peiperl categorized Succession management as active planning along with performance reviews, counselling by managers and human resource. In their analysis, they

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observed that these active planning processes were strongly associated with dynamic, open and proactive climates and were especially associated with organizations that relied heavily on internal labour markets [17]. In 2001, Huang studied about succession management systems and human resource outcomes. The purpose of the study was to find out whether local firms with a more sophisticated succession plan achieved more favourable human resource outcomes than those with fewer sophisticated plans. He found, in conclusion, that there was no significant difference in human resource outcomes between companies who adopted succession planning and those who did not. However, in detailed results, he argued that there was an important relationship between the level of sophistication with which succession plans were carried out and human resource outcomes. In addition, he fined that line-manager involvement, non-political succession criteria, the credibility of succession planning staff, review and feedbacks, effective information systems, were some characteristics, which affected the performance of human resources [18]. Byham et al. (2002) suggested a different approach to grooming executive talents. Rather than targeting one or two hand-picked people for each executive position, an Accelerate Pool emphasizes the development of a group of high-potential candidates for executive positions in general. The model highlights the accelerate development of pool members during stretch jobs and task-force assignments that offer the best learning, including mentoring, coaching, training, and special developmental activities such as university executive programs and in-company action learning sessions, and highest visibility opportunities. Byham explained the process of the Acceleration Pool in five phases. The five phases of the Acceleration Pool are: Identifying high potentials; diagnosing development opportunities; prescribing solutions to development opportunities; ensuring that development takes place/ documenting development; reviewing the progress and new assignments [21]. In 2003, Kim in his study concluded that succession management practices should emphasize employee self-improvement by promoting cross-functional and cross-sector job assignments, executive coaching and mentoring [22]. In addition in this year, Conger and Fulmer illustrated five rules for succession management. At first, Succession management must be a flexible system oriented toward developmental activities. This is the fundamental rule that other rules are based on. The focus of second rule is on linchpin positions, jobs that are essential to the long-term health of the organization. Making succession management transparent, not a mystery, define as a third rule. Rule four is the usual measurement of progress, moving away from the alternative mind-set of succession planning. Keep it flexible is the final rule [23]. Hunte-cox (2004) examined the relationship between executive succession planning and the collective learning capacity. The result of this quantitative research showed organization that scored high in executive succession planning scored high in organizational learning. Specifically, executive succession plans have significant and positive correlation with the organizational learning capacity [24]. In 2006, Dingman did a case study on the servant leadership role in the succession planning process. A positive relationship between servant leadership principles and the succession process was shown through the examination of the succession process in a servant-led organization [25].

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Krauss (2007), studied in succession planning and talent management, to having recommendations to reduce workforce attrition and prepare for an aging population. As a result of this study, the recommendations to his targeting organization were implementing a structured succession plan which distinguished the importance of establishing ownership of the succession plan and aligning the internal culture with external branding. These recommendations were included identifying, assessing and developing high potential in the organization. Once high potentials are selected, their development plan needs to include a job rotation program, a formal mentoring/coaching program, utilizing 360 feedback tools and receiving the appropriate reward for performance [26]. In addition, Fancher (2007) pointed out that an organizer has powerful influence on organizational processes (i.e., succession planning) through the culture which he or she created early on [27]. In 2008, Mandy did a case study and showed some indicator for that succession planning include: identifying new leaders; developing new leaders; delivering financial success; fostering a positive organizational culture; maintaining long-term viability; sustaining core competencies; initiating change management [29]. Levitz in 2008 studied about succession planning and leadership development. He argued that leadership development and succession planning must be at the core of strategic planning [30]. Kasper in 2008 examined the impact of organizational communication in the administration of the succession planning program. As a major result, he suggested that organizations need to perform critical internal examinations of their current methods and strategies for the communication of their succession planning program [31]. In 2009, Cheryl recommended some strategies for implementing deliberate and systemic succession plans in the academic environment via a research in higher education institutes. These strategies include: securing executive champions; aligning the succession plan to institutional culture, mission, vision and goals; taking an approach not unlike strategic planning; carefully constructing communication plans to embrace talent development without inferring entitlement; and a continuous evaluation of both the people and processes involved in succession planning [32]. Scope of the study The present study attempts to find out the extent of succession planning. The assessment has been made with reference to chi-square, correlation and ANOVA and also has focused on giving specific suggestions to improve succession planning in industrial sector. It gives them the intricate details that they actually need to take their organization to greater heights. It also helps them to know where find it easier to improve upon them in a way they help their workman and their sub-ordinates in maintaining a problem free organization. This study helps the personnel department to identify the various tools and techniques and type of training programme that are to be conducted for their employees. Objectives of the Study To study the concept and importance of succession planning for company in competitive area To ascertain the employees opinion about succession planning To identify the better talent pool and also lacking on the part of the company in this area. To give suggestion to make the company prepare leader for future and the smooth continuation and success of a business, if required.

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Methodology: The present study used primary data collected through a questionnaire, simple random sampling was adopted to select a sample of 160 respondents from the universe. The study used chi-square, correlation, and mean value and one way ANOVA to measure the degree of relationship and difference of the data collected to assess the succession planning. Analysis and Discussion: Based on the responses from the study succession planning scale ranging from strongly agree to strongly disagree. In order to that respondents (31.25%) had eligibility for succession planning. Most of the respondents (78.12%) are agreed that their succession planning important for the organization. From the research analysis it found that the maximum (37.50%) of the respondents are strongly agreed that the satisfied with their succession planning and the fact reveals that maximum (15.62%) of the respondents are agreed with their options of key leader elimination. According to this study, majority of the respondents (40.20%) are agreed with their benefits received by succession planning and also that the maximum (31.25%) of the respondents are agreed with their helps to retain the superior employees. From the analysis, it found that the maximum (35.26%) of the respondents are strongly agreed with their long term succession planning help the organization of effective talent management. The above researches reveals that the 38.75% of the respondents are strongly agree with their succession planning ensure the successful transition and prolixity. Mean Value: The mean value of succession planning ensures the successful transition and profitability is 3.843. The mean value of response for ensures the successful transition and profitability is (3.843) which is greater than average of 5 points scale. Correlation Analysis: To find out the closer relationship among the various variables are employees satisfaction level, key leader elimination and employee benefits. Variables Employees satisfaction level of succession plan 1 Key elimination 0.9810 leader Employee Benefits

Employees satisfaction level of succession plan Key leader elimination Employee Benefits

0.9857

0.9810 0.9857

1 0.9761

0.9761 1

The above analysis proved that there is equal changes in three variables are employees satisfaction level, key leader elimination, employee benefits were reflected as less positive correlation. ANOVA: To find the significant variance between experience and satisfied with their company succession planning. Variation Level of Degrees of Calculated Tabulated

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significance freedom value value Experience and Satisfaction with their company succession planning. 0.05 3, 156 4.61 2.60 From the above table it inferred that the calculated value is (4.61), is less than the tabulated value (2.60). Hence, the null hypothesis is accepted. Hence it can be calculated that there is no significant variance between experience and satisfaction with their company regarding succession planning. Chi-square: To fin out the significance relationship between the level of education employees through succession planning. Significance Level of Degrees of Calculated significance freedom value Significant relationship between level of education and way to develop employees through 0.05 16 43.22 succession planning

and way to develop Tabulated value

26.296

From the above table, it could be inferred that the calculated value (43.22) is higher than the tabulated value (26.296). Hence, the null hypothesis is rejected. It can be concluded that there is a significant relationship between the level of education and the way to develop employees through succession planning. Findings from the study From the mean value analysis 3.77, 3.86, 3.84 mean values of all three variables retain the superior employees; effective talent management and proper succession planning were revolved round 3.5 to 4.00. It indicates the employees were agreed upon the succession planning. The correlation analysis proved that there is an equal change in their variables employees satisfaction level, key leader elimination and employees benefits were reflected as less positive correlation. Experience is the demographic factor which influences the company succession planning. The analysis proved that there is no significant variance between experience and company succession planning. There is a significant relationship between the level of reduction and the way to develop employees though succession planning.

Conclusion: The study concluded that the company has a good succession planning and also it is played a vital role in retaining the employees in the organization. Also motivate them to work with positive attitude in the working environment. It shows the expectations of the employees on succession planning and its impacts on their working performance. Reference:

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Beyond the successful veterinary practice by Thomas E Catanzaro, Robert W Deegan 240 Page. Effective Succession Planning Enswing by William J Rothwell 444 Page. Rao VSP, Human Resource Management, New Delhi, Prentice Hall of India Private Ltd., 2002. Planning for Succession: A Toolkit for board by Merianne Citeman 36 Page. Kothari C.R, Research Methodology, New Age International Publication, 2nd Edition, 2004.

Websites: www.Succession Planning .com www.google.com Construction Industry www.wikipedia.com

A STUDY ON STRESS MANAGEMENT AMONG EXECUTIVES OF SDCMPUL

1. INTRODUCTION In today's competitive world, tension and stress have become a part of a great concern for people. Many stress techniques have been put forth and some have succeeded and some have failed. However, before implementing the stress control techniques, it is inevitable to know what exactly 'Stress' is and why stress control techniques are necessary. Stress has been called the invisible. It is a disease that may affect you, your organization, and any of the people in it, so you cannot afford to ignore it. STRESS Stress is highest for those individuals who perceive that they are uncertain as to whether they will win or lose and lowest for those individuals who think that winning or losing is certainty. 1..2 DEFINING STRESS AT WORK Change in working practices, such as the introduction of new technology or the alteration of new technology or the alternative of targets, my cause stress, or stress may be built into an organizations structure. Organizational stress can be measured by absenteeism and quality or work. Stress affects as well as the individual within them. An organization with a high level of absenteeism, rapid staff turnover, deteriorating industrial and customer relations, a worsening safety record, or poor quality control is suffering from organizational stress. Potential Sources of Stress There are three categories of potential stressors: 1. Environmental factor 2. Organization factor 3. Individual factors Environmental factors: Just as environmental uncertainty influences the design of an organization. Changes in business cycle create economic uncertainties.

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Political uncertainties: If the political system in a country is implemented in an orderly manner, there would not be any type of stress. Technological uncertainties New innovations can make an employees skills and experiences obsolete in a very short period of time. Technological uncertainty therefore is a third type of environmental factor that can cause stress. Computers, robotics, automation and other forms of technological innovations are threat to many people and cause them stress. Organization factors

There are no storages of factors within the organization that can cause stress; pressures to avoid error or complete tasks in a limited time period, work overload are few examples. Task demands are factors related to a persons job. They include the design of the individuals job working conditions, and the physical work layout. Role demands relate to pressures placed on a person as a function of the particular role he or she plays in the organization. Role overhead is experienced when the employees is expected to do more than time permits.

Individual factors The typical individual only works about 40 hrs a week. The experience and problems that people encounter in those other 128 non-work hrs each week can spell over to the job. Family problems National surveys consistently show that people hold family and discipline, troubles with children are examples of relationship problems that create stress for employee and that arent at the front door when they arrive at work. Economic problems Economic problems created by individuals overextending their financial resources are another set of personal troubles that can create stress for employees and distract their attention from their work. 2.OBJECTIVE OF THE STUDY Recognize the impact of stress on modern life. Identify the common stress indicators and stress related diseases. Review various strategies to help cope with stressors more effectively. To assess his qualities including the vulnerability to stress. 3. RESEARCH METHODOLOGY Research Design adopting this Study The research design used for the study is descriptive design. Descriptive research design includes surveys and fact finding enquires of different kinds. The major purpose of descriptive research is description of the state of affairs, as it exists at present. Descriptive Research Design is called exploratory design. Exploratory research is conducted into an issue or problem where there are few or no earlier studies to refer to. The focus is on

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gaining insights and familiarity for later investigation. Secondly, descriptive research describes phenomena as they exist. Here data is often quantitative and statistics applied. Population The total population of the executives working in Salem District Co. Operative Milk Producers Union Ltd (SDCMPUL) 686 employees is there. 3.1 SAMPLING PLAN Sampling is a definite plan for obtaining a sample from a given population; it refers to the techniques for selecting items for the sample. This plan calls for three decisions. a) Sampling unit b) Sampling size c) Sampling technique a) Sampling unit The respondents of the study are part of the population of executives of Salem District Co. Operative Milk Producers Union Ltd (SDCMPUL).Each executive is equally considered to be single unit. b) Sample size Due to time and resource constraint the sample size has been taken 50. In consultation with the project guide. The size of the sample is 50 out of 686 executives. c) Sampling Procedure (or) Techniques The simple random sampling technique is used in this study. The respondents are taken by using a random number table (50 out of 686 taken for survey). Simple Random Sampling Simple random sampling is one of the most popular types of random or probability sampling. In this technique, each member of the population has an equal chance of being selected as subject. The entire process of sampling is done in a single step with each subject selected independently of the other members of the population. One of the best things about simple random sampling is the ease of assembling the sample. It is also considered as a fair way of selecting a sample from a given population since every member is given equal opportunities of being selected. 3.2 TOOLS FOR RESEARCH ANALYSIS 1. Simple Percentage Analysis It is used for analysis of the data that is collected for research work, simple percentage are often used in data presentation for the simplify numbers, through the use of percentage, the data are reduced in standard form with base equal to which it facilitates the relative comparisons.

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No. of respondents Simple Percentage = Total respondents

2. Weighted Average Mean (WAM) These are cases were to relative importance of the different items is not the when this so, the research can use the weighted average mean same. The weights stand for the relative importance of the different items. The formula for computing WAM is

X 100

XW = XW W
Where

XW
X W Steps

= = =

Weighted Average mean Variable value Weight

a) b)

Multiply the weight w by the variable x and obtain the total XW. Divide this total by the sum of weights (i.e.) W.

DATA ANALYSIS AND INTERPRETATION 4.1 SIMPLE PERCENTAGE ANALYSIS Table. No 4.1 Respondent Age Option Respondents Below 25 0 25 to 35 0 35 to 42 12 Above 42 38 Total 50

Percentage (%) 0 0 24 76 100

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Fig. No 4.1 Employee Age Source: Primary data

Interpretation: From the Above Table, majority of the respondent age (76%) are Above 42, and (24%) of the respondents are 35 42. Table. No 4.2 Respondent Gender Respondents Percentage (%) 42 84 8 16 50 100 Fig. No 4.2 Gender Source: Primary data

Option Male Female Total

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Interpretation From the above table (84%) of respondents are male and (16%) of respondents are female. Table. No 4.3 Respondent Educational Qualification Respondents Percentage (%) 13 26 6 12 5 10 26 52 50 100 Fig. no 4.3 Education Qualification Source :Primary Data

Option SSLC HSC Diploma Others Total

Interpretation: From the above table (26%) of respondents completed SSLC and (12%) of respondents completed HSC and (10%) of respondents completed Diploma and (52%) of respondents completed other degrees Table. No 4.4 Respondent Occupation Option Respondents Percentage (%) Manager 2 4 Asst.General Manager 4 8 Deputy Manager 7 14 Typist & Clerk 12 24 Others 25 50 Total 50 100

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Fig.No.4.4 Occupation Source: Primary Data

Interpretation As it evident from the chart, majority of the respondents (50%) are come under other occupation ,(24%) are Typist &Clerk, (14%) are Deputy Manager,(8%) are Asst.general Manager and (4%) are Manager in the organization. Table. No 4.5 Respondent Monthly Income Options Below Rs. 4,000 Rs.4001 Rs. 6000 Rs.6001- Rs.9000 Above Rs.9001 Total Respondents 0 12 0 38 50 Percentage ( % ) 0 24 0 76 100

Fig.No 4.5 Monthly Income Source: Primary Data

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Interpretation: From the above table majority of respondent (100%) receive Above Rs. 9001 as monthly income. Personality ranking i ii. iii. I feel guilty when having nothing to do. I often set work schedule for myself. I speak fast, eat fast and move fast. Weightage 0.41 0.48 0.60 0.54 0.28 0.31 0.44 0.16 0.35 0.19 0.33 0.25 Rank 5 3 1 2 9 8 4 12 6 11 7 10

iv. I have strong eager for success. v vi. I usually do more than two things at the same time. I value figures, such as figures on presentation.

vii. I like to compete with others and confident in winning. viii. I feel impatient with things moving slowly. ix. I involve in many things which are usually over loaded. x I often set up a goal thats impractical.

xi. I often have strong intention for being outstanding. xii. I am often anxious to get the target but dont how to do.

Table. No. 4.6 Respondents working hours in the organization. Options 8hours 12hours 10hours 16hours Total Respondents 27 9 10 4 50 Percentage ( % ) 54 18 20 8 100

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Fig. No 4.6 Working hours Source: Primary Data

Interpretation: As it evident from the chart, majority of the respondents (54%) are working 8hours in the organization,18% working 12 hours, 20% working 10 hours and 16% working 16 hours in the organization. Table. No 4.7 Personality activities Fig. No 4.7 Personality activities. Source: Primary Data

Interpretation: From the above table shows that t raking for personality is based on the weightage for above activities. The highest weightage is given as (0.60) for third activity and last preference is given for eighth activity.

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5 .FINDINGS AND SUGGESTIONS The 54% Employees work 8 hours in the organization. Most of the employees very often (26%) having Busy time or hard time at work place. The employees face Physical Environmental problem (50%) at work place due to noise, temperature, pressure. Most of the employees (54%) accept that there is a Time Pressure for completing the work. The Employees feel Monetary Financial Motivation (50%) can reduce the stress. Employees dont love to have any health problems (40%) like BP, sugar, any other problems working in the organization. Employees accept that Lack of Communication (42%) is the causes for the stress. Most of the employees (66%) can learn from the experience and move on to the next job when a project working on fails. Sometimes the employees (46%) suffer with the outside relationship, while spending long time at work in the organization. Majority of the employees (34%) dont get a good night sleep without worrying about the work. The employees strongly disagree (38%) for family counseling requirements. Employees life working in the organization (48%) can be described in one word it would be Progressive. The organization falls a very tall structure of stress among hierarchy & this is one of the reasons for employees being stressed. There is no significant difference of stress among employees working in plant & other departments. The employees working in the organization gave a positive response in answering the questionnaire 5.1 SUGGESTION A Small percentage of the employees did have high stress. Person facing stress at the organizational level of lot of psychological problems in the form of decreased motivation, time pressure, lack of communications a reedy for the above said employees facing stress are advised to practice Talk about it: a friend or family member may help you sort out your feelings and get a new perspective on problems and Join a support group. Get regular exercise and Change your own outlook and actions, rather than trying to change others. Get enough sleep: most people need about six to nine hours of sleep at regular times. Try relaxation techniques such as meditation, deep breathing, or visualization and Look back on a crisis as a learning opportunity.

6. CONCLUSION The present study was conducted at Salem District Co. Operative Milk Producers Union Ltd (SDCMPUL). The aim was to find the stress levels, personality type of the employees. This was done using a detailed questionnaire. The study reveals that fall under low stress category only a small percentage is highly stressed & needed prevailing in the organization to some extent.

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At the end of the study, we can conclude that through there are signs of stress among the employees & such stress is affecting their behaviors, it can be controlled & reduced effectively. This can be done by giving counseling & incorporating the suggestions given here in at individual & organization level. REFERENCE 1. Stephen P. Robin, (1994) Organization Behavior concept Controversies Applications (6th edition). 2. V. Ashwatha Ramaiah ,A celebration called Life Unique consultants (Pvt) Ltd. 3. Kothari C. R.: Willey, Research Methodology Methods and Techniques: Easter: New Delhi. 4. Prof .R. Senapathi, Business Research Methodology, Lakshmi publications, Chennai. 5. www.mindtools.com 6. www.aavinmilk.com

720 A DISTINCT METHOD OF PERFORMANCE APPRAISAL

A.Hilary Joseph, Lecturer in Commerce, The American College, Madurai-2 Introduction Performance appraisal is the process of obtaining, analyzing and recording information about an employee to evaluate and improve the performance of employees of organizations. In the words of Flippo, Performance appraisal is the systematic, periodic and an impartial rating of an employees excellence in matters pertaining to his/her present job and his/her potential for a better job. Evaluation of performance of employees should enhance the skills and abilities of the employees that they must be able to perform better and for that performance appraisal method should be selected with great care otherwise the performance appraisal method will bring negative feeling and hatred between the management and the employees. The objective of organizations with regard to performance appraisal of employees is to assess the performance, evaluate them, and propose measures to achieve the set targets. It is not only the objective of making enormous profits but the welfare of the employees is also included in making performance appraisal of employees. A good performance appraisal method should include various parameters such as the quality of work done, quantity of good produced, time and cost analyses to the value that the employee adds to the goods of the organization. Type of data used Primary data as well as secondary data are utilized for the purpose of collecting data. Primary data are collected from the respondents and secondary data are collected from books, journal and websites and in particular electronic journals. The interview schedule was used for the purpose of collecting primary data. The researcher himself visited the places, interviewed and recorded the data. Afterwards the data so collected had been analyzed.

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Statistical tools used The researcher has used percentile analysis to bring to light the awareness of 720 degree performance appraisal technique among the various organizations in Madurai. He felt that percentile analysis would be very much appropriate for this. Sampling method Convenient sampling method is adopted for the purpose of collecting data. Due to short span of time the researcher could not adapt himself to any other method of sampling. Overview of methods of performance appraisal There are different techniques of performance appraisal such as confidential report, free form or essay method, straight ranking method, paired comparison method, forced distribution method, graphic rating scales, check list method, human resource accounting method, behaviourally anchored rating scales, appraisal by results or management by objectives and 360 degree appraisal method. An overview of each above method with their limitations is necessary to understand the need and importance of 720 degree performance appraisal method. 1. Confidential report A confidential report is a report, prepared by the employees immediate superior and this method includes the strengths and weaknesses, achievements and failures of every employee in the work place. This appraisal is also used to provide promotions and transfers. This method focuses on evaluating the performance of employees than development of employees. It involves subjectivity because appraisal is based on impressions rather than on data. 2. Free form or Essay method An evaluator writes a short essay on the employees performance on the basis of overall impression. The evaluator is expected to be factual and concrete. This method provides greater amount of information about the employees. It suffers from following demerits. As this evaluation is done in the own words of the evaluator, the evaluation may be bias. The quality of the evaluation is depending on the writing ability of the evaluator. 3. Straight ranking method The evaluator gives relative ranks to all the employees in the same work unit doing the same job. Employees are ranked from the best to the poorest on the basis o overall performance. The relative position of every employee is being expressed in numerical rank. Under this method, the phrase wholemen is compared with the whole man is very much applicable. This method also suffers from many disadvantages. This method fails to indicate how a person stands in relation to others in the group but does not tell how much better or worse he or she is than another. 4. Forced distribution method Under this method, the rater is expected to distribute his/her ratings in the form of a normal frequency distribution. The objective of this method is to eliminate the raters bias of central tendency. The main drawback of this method is that the rater does not explain why an employee is placed in a particular category. 5. Graphic rating scales The rater is given a printed form for each employee to be rated and the form contains many characteristics such as quality of work, intelligence, leadership skills, judgment etc. relating

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to the personality and performance of employees. This method imposes burden on the raters to evaluate report performance on several factors each having five degrees. There is a danger that the rater may rate the employees high with the view to avoid criticism from employees. Moreover, the high rating on one factor can compensate for low score on other factor. 6. Checklist method A checklist is a list of statement s that describe the characteristics and performance of employees to the job. The rater checks to indicate if the behaviors of an employee are positive or negative to each statement. The performance of every employee is rated on the basis of number of positive checks. It is a time consuming method and at the same time it is to be noted that each statement can be interpreted differently by different raters. 7. The 360 degree appraisal technique The 360 degree appraisal technique involves evaluation of by everyone above, alongside and below the person who is being apprised. Structured questionnaires are used to collect responses about a manager from his bosses, peers and subordinates. The responses are presented collectively to the assesses in the form of charts and graphs and comments and interpretations are presented. Counseling sessions are also arranged to solve the weaknesses identified in the 360 degree assessment. Under this technique, the employee is at the core and on the four corners are the different entities that play important role in the employees work namely his/her superior, subordinates and the peers both from within the department as well as from other departments in the organization. Therefore this technique has four integral components namely, self appraisal, supervisors appraisal, subordinates appraisal and peer appraisal. 720 Degree performance appraisal 720 degree performance appraisal was introduced when the employees performance is measured. Analyzed and targets are set in the first appraisal and after a short period his performance is measured again and proper feedback and guidance is given to ensure that the employee achieves the target. 720 degree performance appraisal is an integrated method of performance appraisal where, the performance of an employee is evaluated from 360 degrees (management, colleagues, self and also customers) and timely feedback is given and performance is evaluated again based on the targets that are set. Hence 720 degree performance appraisal can be stated as twice 360 degree performance appraisal: once when the appraisal is done and the tqartges are set and the second where the feedback is given and the boss gives tips to the employees to achieve the goals. Hence there is pre and post round of feedback. Need for 720 Degree performance appraisal 1. This method is more development focused whereas other methods are performance focused, 2. 720 degree performance appraisal assist in taking decisions regarding salary fixation, confirmation, promotion, transfer etc., 3. It helps employees to fulfill organizational standards and objectives, 4. It ensures management to understand the areas where training is required, 5. Helps to understand the expectations of the employees,

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6. Ensures to set realistic target, monitor the performance and to provide timely feedback to employees. Benefits of 720 degree performance appraisal (a) 720 degree performance appraisal helps to analyse better and helps to provide improved feedback from different dimensions. (b) A better cooperative team can be developed. (c) Prejudice, bias and discrimination in any form is reduced. (d) As this technique includes customer feedback, customer service and customer satisfaction could be obtained. (e) It provides each and every employee that they are treated just. (f) As the objective of this technique is development focused, career of employees gets better. Findings of the study Table 1.1 Existing appraisal method used Method 360 degree performance appraisal Confidential Report Management By Objectives Essay or Free Form Method Forced Distribution Method Behaviorally Anchored Rating Scale Graphic Rating Scales Total

No. 27 16 3 3 1 0 0 50

Percentage 54% 32% 6% 6% 2% 0% 0% 100%

It is evident from Table 1.1 that 54% of the organizations use 360 degree performance appraisal is used at present, 32% of the organizations use Confidential report method, 6% of the organizations use Management By Objectives method, another 6% of the organizations use Essay or Free form method, 2% of the organizations use Forced distribution method and none of the organizations use Behaviorally anchored rating scales and Graphic rating scales techniques. Table 1.2 Satisfaction with existing appraisal method Options No. Percentage Yes 14 28% No 36 72% Total 50 100% Table 1.2 make it clear that 72% of the respondents are not satisfied with the existing performance appraisal method and 28% of the respondents are satisfied. Therefore it gives a way for new method of performance appraisal method to be adopted by organizations.

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Table 1.3 Awareness of 720 Degree Performance Appraisal Options No. Percentage Yes 19 38% No 31 62% Total 50 100% Table 1.3 exhibits that 62% of the respondents are not aware of 720 degree performance appraisal method whereas only 38% of the respondents are aware of this 720 degree performance appraisal method. Table 1.4 Interest in implementing 720 degree performance appraisal Options No. Yes 38 No 12 Total 50

Percentage 76% 24% 100%

Table 1.4 reveals that 76% of the respondents are interested in implementing and the remaining 24% of the respondents are not interested in implementing 720 degree performance appraisal. Conclusion The technique of 720 degree performance appraisal has a very long way to go. Still it has not been brought to the awareness of the organizations. First of all, the organizations need to understand the concept and then implement in the organizations concerned. It is very clear from the analysis that the employees are not satisfied with the existing performance appraisal method, organizations need to take an extra mile in implementing 720 degree performance appraisal as it focuses on the development of the employees and not only of performance of the employees.

A STUDY ON OCCUPATIONAL HEALTH AND STRESS

Mrs.D.KANAKAVALLI, Lecturer in Commerce, The American College, Madurai 625 002 Introduction Individuals earn their bread for themselves and for their families to enjoy good health. If not for health, percentage of people who toil for luxurious life is countable in number. The employees spend one third of their day in the work place and therefore it is their ultimate responsibility to take care of their health and for that the work environment should be conducive. As an English proverb goes, when wealth is lost, nothing is lost and when health is lost, everything is lost. Statement of the problem It is universal truth that organizations prime objective is to maximize their profit. The ability of the firm to earn more and more profits becomes a reality because of the employees that they employ. There is a correlation between the variables such as the occupational health enjoyed by the employees and the ability of the organization to make enormous profits. if only employees have good health, they will be able to work for a long time without getting tired soon. Higher rate of labour turnover and high absenteeism is caused

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due to ill health of the employees. Ability to work continuously, higher rate of labour turnover and high absenteeism are the major hurdles for the organization to achieve the objective of making profits. Unless the working conditions such as lighting, temperature, space etc. are proper, employees cannot concentrate on work. The quality of work will suffer and the firms resources will be wasted. This will lead to industrial discontent and indiscipline in the organization. Therefore the management and the organizations should feel the necessity to provide better facilities to maintain good health of employees. In the absence of better facilities, the occupation becomes a burden and creates a stress in employees. Apart from health hazards stress does not allow the individual workers to put their maximum for the betterment of the organization itself. Occupational health is important for the following reasons: I. To maintain and improve the productivity and quality of work II. To minimize absenteeism and labour turnover III. To reduce industrial unrest, indiscipline and accidents IV. To improve employee motivation and morale V. To reduce spoilage and cost of operations VI. To preserve the physical and mental health of employees Increasing attention is being paid to occupational health and safety due to pressure from labour laws, enlightened attitudes of employers and trade unions. according to the Recommendation 112 of ILO, Occupational health services should be established in or near a place of employment for the purpose of: (a) protecting the workers against any health hazard arising out of work or conditions in which it is carried on, (b) contributing towards workers physical and mental adjustment, and (c) contributing to establishment and maintenance of the highest possible degree of physical and mental well-being of the workers. The Factories Act, 1948 lays down the following provisions concerning employee health. 1.Cleanliness: (a) Every factory shall be kept clean and free from effluvia arising from any drain, privy or other nuisance (b) Accumulation of dirt and refuse shall be removed daily by some effective method (c) The floor of every work room shall be cleaned at least once in every week by washing, using disinfectant where necessary (d) Where a floor is likely to become wet in course of any manufacturing process to such an extent as is capable of being drained, effective means of drainage shall be provided (e) Walls, partitions, ceilings, doors, windows etc.shall be painted, white colour washed in the prescribed manner. 2. Disposal of wastes and effluents: (a) Effective arrangements shall be made in every factory for the treatment of wastes and effluents due to manufacturing process carried on therein, so as to render them innocuous and for their disposal.

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3. Ventilation and Temperature: (a) Effective and suitable provision shall be made in every factory for securing and maintaining in every workroom the circulation of fresh air and such a temperature as will secure to workers therein reasonable conditions of comfort and prevent injury to health (b) The walls and roofs shall not be exceeded but kept as low as practicable (c) The process which produces high temperatures shall be separated from the workroom by insulating the hot parts or by other effective means 4. Dust and Fumes: (a) Where dust and fumes or impurity of such a nature as is likely to be injurious or offensive to the workers is given off as a result of the manufacturing process being carried on in a factory, effective measures shall be taken in the factory for prevention of inhalation or accumulation of dust and fumes in workrooms. If for such a purpose any exhaust appliance is necessary it shall be applied near as possible to the point of origin of the dust, fumes or other impurity and such point shall be enclosed so far as possible. (b) A stationary internal combustion engine shall not be operated unless the exhaust is conducted into the open air. 5. Artificial Humidification: In any factory in which the humidity of the air is artificially increased, the water used for the purpose shall be taken from a public supply or other source of drinking water or shall be effectively purified before it is so used. 6. Over Crowding: There shall be in every workroom of a factory at least 9.9 cubic metres for factories existing before this Act and 14.2 cubic metres for factories built after this Act of space for every worker. In calculating such space, no account shall be taken of any space which is more than 4.2 metres above the level of the rooms floor. 7. Lighting: (a) In every part of the factory where workers are working or passing there shall be provided and maintained sufficient and suitable lighting, natural or artificial or both. (b) All glazed windows and sky lights used for lighting shall be kept clean and free from obstruction (c) Effective provision shall be made to prevent glaze and the formation of shadows 8. Drinking Water: (a) In every factory, effective arrangements shall be made to provide and maintain at suitable points conveniently situated for all workers employed therein a sufficient supply of whole some drinking water (b) All such points shall be legibly marked drinking water in a language understood by a majority of the workers employed in the factory. No such points shall be situated within six metres of any washing place, urinal, latrine, spittoon, open drain carrying sullagar or effluent or any other sources of contamination unless a shorter distance is approved in writing by the chief inspector (c) In every factory wherein more than 250 workers are ordinarily employed, provision shall be made for cooling drinking water during hot weather by effective means and for distribution thereof.

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9. Latrines and Urinals: (a) In every factory sufficient latrine and urinal accommodation of prescribed types shall be provided conveniently situated and accessible to workers at the time while they are at the factory, separate enclosed accommodation shall be provided for male and female worker, such accommodation shall be adequately lighted and ventilated and no latrine or urinal shall unless specially exempted in writing by the chief inspector, communicate with any workroom except through an intervening open space or ventilated passage, all such accommodations shall be maintained in a clean and sanitary condition at all times, sweepers shall be employed whose primary duty would be to keep clean latrines, urinals and washing places. (b) In every factory wherein more than two hundred and fifty workers are ordinarily employed, all latrines and urinals accommodation shall be of prescribed sanitary types, the floors and internal walks, up to a height of 90 centimeters, of the latrines and urinals and the sanitary block shall be laid in glazed tiles or otherwise finished to provide a smooth polished impervious surface, the floors, portions of the walls so laid or finished and the sanitary pans of latrines and urinals shall be thoroughly washed and cleaned at least once in every seven days with suitable detergents or disinfectants or with both. 10. Spittoons: (a) In every factory, there shall be provided a sufficient number of spittoons at convenient places and they shall be maintained in a clean and hygienic condition (b) No person shall spit within the premises of a factory except in the spittoons provided for the purpose. A notice containing the provision of spittoons in the factory and the penalty for spitting anywhere except in the spittoons shall be prominently displayed at suitable places in the premises. This study is aimed at analyzing the various occupational facilities related to health provided by different organizations in and around Madurai, Tamilnadu. Method of Data used For the purpose of this study, both primary data and secondary data are used. Primary data are collected from employees working in different companies textile, garments, tyre, spinning, agro, biscuits, beverages etc.. Secondary data are collected from various sources such as books, e-journals and websites. Sampling Size The sample size of this study is 100 being collected from employees of different companies. 10 Companies employees of varying nature are selected for the purpose of collecting primary data. Sampling method Questionnaire is used for the purpose of collecting primary data. Convenient sampling method is used. Other methods of sampling could not be utilized due to the short span of time. Respondents for the study The respondents are the employees of different companies. It was decided by the researcher that better occupational health facilities will be revealed by the employees rather than the management of the companies. There is a possibility that the management hooks up to mislead the study that the researcher is not interested in misleading data.

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Statistical tools used The researcher has used simple percentile analysis and the researcher did not feel the need to use other advanced statistical tools as the objective of the study is to bring to light the occupational health of employees due to facilities provided and level of stress experienced by employees. Presentation of study Tables and charts are utilized for the purpose of presenting the analyzed data. Tables containing percentages and charts will reveal the study. Analysis and Interpretation: Table 1.1 Cleanliness in factories Clean No. of Workers Percentage Yes 84 84 No 16 16 Total 100 100 Table 1.1 reveals that 84 % of the respondents accept that the factories in which they work is kept clean by management. It is highly encouraging that factories adhere to the regulations provided by Factories Act, 1948 Table 1.2 Measures for disposal of wastes No. of Workers Percentage Agree 57 57 No Opinion 27 27 Disagree 16 16 Total 100 100 Table 1.2 exhibits that only 57 % of the respondents agree that the factory management takes appropriate measures for disposal of wastes. 27 % of the respondents have no opinion with regard to the measures taken and 16 % of them disagree for the measures taken by the management of factories in disposal of wastes. Table 1.3 Ventilation and temperature No. of Workers Percentage Comfortable 87 87 Uncomfortable 13 13 Total 100 100 Table 1.3 shows that 87% of the respondents are comfortable with ventilation whereas 13% of the respondents are not comfortable with ventilation and temperature. It is brought to light that ventilation and temperature in factories situated in Madurai are good. Table 1.4 Usage of exhaust appliance No. of Workers 72 28 100

Exhaust appliance Available Not available Total

Percentage 72 28 100

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It is understood from the Table 1.4 that 72 % of the respondents agree that exhaust appliances in the factories are available and the remaining 28% of the respondents stated that they are not available. Table 1.5 Artificial humidification Artificial Humidification No. of Workers Percentage Available 81 81 Not available 19 19 Total 100 100 Table 1.5 reveals that 81% of the respondents accept that artificial humidification is available and it is 19% of the respondents state that artificial humidification is not available in the factories in which they work. Table 1.6 Space for every worker Space No. of Workers Percentage Adequate 78 78 Inadequate 19 19 No Opinion 03 03 Total 100 100 It is obvious from Table 1.6 that 78% of the respondents have adequate space for every worker and 19% of the respondents stated that the space for every worker is not adequate and 3% of the respondents have no opinion with regard to adequate space for every worker in the organization. Table 1.7 Lighting Lighting No. of Workers Percentage Adequate 100 100 Inadequate 0 0 Total 100 100 Table 1.7 reveals that the whole of 100% of the respondents have agreed that the factories provide adequate lighting in the work place and there is no respondent have difference of opinion with regard to lighting in the work place. Table 1.8 Drinking water No. of Workers 100 0 100

Drinking water Provided Not provided Total

Percentage 100 0 100

It is derived from the Table 1.8 that 100% of the respondents have stated that the factories provide drinking water facilities to the workers in the organization and there are respondents to state that drinking water facility is not provided.

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Drinking water Purified Unpurified Total

Table 1.8.1 Drinking water purification No. of Workers 53 47 100

Percentage 53 47 100

It is assumed from Table 1.8.1 that 53% of the respondents have stated the the drinking water facility provided to workers is purified and the remaining 47% of the respondents have stated that the drinking water provided is unpurified. Table 1.9 Availability of sanitary facilities No. of Workers 100 0 100

Sanitary facilities Available Not available Total

Percentage 100 0 100

Table 1.9 brings to light that 100% of the respondents are of the opinion that sanitary facilities in the factories is available and there is not respondent who have negative opinion with regard to the sanitary facilities provided in the factories in which the respondents work. Table 1.9.1 Laid down of glazed tiles No. of Workers 72 28 100

glazed tiles Yes No Total

Percentage 72 28 100

Table 1.9.1 reveals that out of 100 respondents 72% of respondents stated that in their factorys sanitary block has lain with glazed tiles and the remaining 28% of the respondents revealed that glazed tiles were not laid down in the sanitary block of the factories. Table 1.9.2 Condition of sanitary facilities No. of Workers 76 19 05 100

Cleaned regularly Once in a week Not so cleaned Total

Percentage 76 19 05 100

It is made clear from the Table 1.9.2 that 76% of the respondents state that the factories are cleaned regularly, 19% of the respondents state that cleaning is done once in a week and only 5% of the respondents state that cleaning is not so cleaned.

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Table 1.10 Spittoons Spittoons No. of Workers Percentage Yes 13 13 No 87 87 Total 100 100 Table 1.10 reveals that only 13% of the respondents state that spittoons are provided in the factories and the majority up to 87% of the respondents state that spittoons are not at all provided in the factory premises. Table 1.11 Stress created through non availability of occupational health factors Occupational 9 8 7 6 5 4 3 2 1 Total Rank health factors Cleanliness in 3 3 6 7 10 12 16 24 19 VII factories 27 24 42 42 50 48 48 48 19 348 3 4 4 4 12 15 13 18 27 Disposal of wastes VIII 27 32 28 24 60 60 39 36 27 333 Lighting,Ventilation 15 09 13 10 12 14 10 11 6 532 I and temperature 135 72 91 60 60 56 30 22 6 Usage of exhaust 9 12 8 15 14 9 8 10 15 488 V appliance 81 96 56 90 70 36 24 20 15 Artificial 8 9 8 10 7 8 9 22 19 VI humidification 72 72 56 60 35 32 27 44 19 417 Space for every 7 14 12 10 13 11 10 16 7 IV worker 63 112 84 60 65 44 30 32 7 497 12 14 14 9 9 13 8 11 10 Drinking water II 108 112 98 54 45 52 24 22 10 525 17 5 10 10 15 14 12 7 10 Latrines and Urinals III 153 40 70 60 75 56 36 14 10 514 4 3 5 3 6 16 10 19 34 Spittoons IX 36 24 35 18 30 64 30 38 34 309 Table 1.11 reveals that the rank given by the respondents starting from 1 to 9. The researcher has given weightage as 9,8,7,6,5,4,3,2,1 responding the highest weighted score of the factor lighting, ventilation and temperature, which creates stress secured the first rank followed by drinking water as second rank and the spittoons is the ninth rank. Findings The following findings are derived from the study. 1. 2. 3. 4. 5. 6. 7. 84 % of the respondents accept that the factories in which they work is kept clean by management. Only 57 % of the respondents agree that the factory management takes appropriate measures for disposal of wastes. 87% of the respondents are comfortable with ventilation. 72 % of the respondents agree that exhaust appliances in the factories are available 81% of the respondents accept that artificial humidification is available. 78% of the respondents have adequate space for every worker. 100% of the respondents have agreed that the factories provide adequate lighting in the work place.

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8.

100% of the respondents have stated that the factories provide drinking water facilities to the workers in the organization. 9. 100% of the respondents are of the opinion that sanitary facilities in the factories are available. 10. 87% of the respondents state that spittoons are not at all provided in the factory premises. Suggestions 1. Though latrines and urinals are sufficient for workers, cleanliness of them is to taken care of in future to increase the morale of employees. 2. As 87% of the respondents state that spittoons are not at all provided in the factory premises, spittoons are to be placed and it should be intimated to the employees that behavior to be changed. 3. Stress of employees can be reduced to a greater extent if more occupational health facilities are provided in the factories. 4. Conclusion 5. This modest piece of research is an effort on the part of the researcher to explore many aspects of subject as possible, allowed with in the time limit and findings and suggestions made in the course of studies are supported by the statistics gathered by the researcher.

KNOWLEDGE MANAGEMENT IN HIGHER EDUCATION

R.MARY GEETHAM Research Scholar Loyola College, Asst.Prof, Department of Corporate Secretaryship, Anna Adarsh College for Women Dr.T.JOSEPH, Professor, Department of Commerce, Loyola College Information and knowledge are considered to be valuable in all spheres of life and it must be effectively managed for the growth and development. This concept of knowledge is particularly important and applicable in the knowledge based industry especially in higher education where information and knowledge plays important role in teaching and learning. Knowledge Management (KM) is a response to these challenges, mostly seen in the business world and to some extent, in education. The people and technology plays a vital role in attaining high economic development and growth. The people of the country pass their knowledge resources to the next generation and simultaneously the system passes over. Effective flow of knowledge is only possible through the people through appropriate technology and mutual understanding. The people and technology are combined to achieve sharing and regular flow of knowledge. KM is dependent directly on people and at some percent on technology. People remain vital in the knowledge sharing and because of the factor and its combination with technological and organizational aspects, knowledge management initiatives fails. The higher education system of any country nurtures young talents to practice the learned outcomes. KM techniques and tools can be applied in higher education system to improve the overall development. The areas of application involve research, curriculum development, academic services (teaching- learning process), alumni services, formulation and development of strategic plan, administrative services (student and alumni), access to potential customers and other stakeholder, library services, development programs etc. This research paper highlights the reasons for KM in the system of education , features of KM system, challenges and problems faced by KM.

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Knowledge is the foundation for organization and human competence intended to create advantage. Managing these intangible resource and capabilities supports the organization to create competitiveness among other rivals in the industry. The organization ability to identify critical knowledge resources and use them in objectively in decision making and problem solving enhances competence, develops self-confidence and leads to achieve productivity. Knowledge can also be defined as an integration of experience, values, ideas, information, contextual sequence of data, insight, indicators, development information, decision making criteria that provides a framework for evaluating and incorporating new experiences and information. Need of KM Knowledge management is also needed for various reasons to leverage experience and expertise of professional (academicians and other) and acquire knowledge which is at the possibility of diminishing at different level; reduce the duplication of the work and replicating the business process and decision making criterias; alters strategic decision towards better results by reducing loss of information and knowledge; reduce complexity at every step repeated during the process; improve rate of innovation and increase competitiveness; reduce informal method of process to formal method of development; reduce time for decision making process; leverage knowledge and information throughout the life long tenure of the organization and in some case for industry etc. OBJECTIVES OF THE STUDY The main aim of the study is to fulfil the following objectives 1. 2. 3. 4. 5. To find out the challenges faced by the educational institutions in implementing the knowledge management strategies. To identify the problems in implementation of knowledge management. To inculcate the benefits derived using knowledge management in the field of education. To analyse the various factors of organisational environment. To establish the relationship between the factors required in the implementation of knowledge management strategy.

SCOPE OF THE STUDY The study was concerned with educational institutions in Chennai city. REVIEW OF LITERATURE Knowledge management has generated much interest in recent years and has become the latest management buzz in town. Many people start wondering whether knowledge management is here to stay or it is just another consultancy fad. To put things in perspective, it is important to look at the sequence of events that led to the rise of knowledge management. The arrival of the information society and the move toward the knowledgebased economy highlighted the importance of tacit knowledge and the need to manage knowledge resources including skills and competencies. KM In Higher Education - Implementation Agenda KM initiative and implementation at higher level of education is not an easy task. The researcher conducted the study to find various implementation challenges at higher education institution. The results are as follows:

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Lack of awareness and learning about KM The adoption of new system provides resistance Short of finance for implementation of KM application Lack of understanding about the appropriate technology used for implementing KM in practice Lack of Top management initiative Adoption of new system will create additional cost Lack of motivation and initiatives Inability to determine the advantage created after using KM system Shortage of resources and expertise KM application may reduce work efficiency under situation System hanging can create big problem Training and time availability, etc.

Characteristics Of Knowledge Management System Major characteristics which highlight KM process effective and efficient in term of organization and its development are: The KM process should address the business problem and support for decision making and problem solving providing flexibility and innovation. The KM process will continuously adopt improvement and build on the intellectual capital to provide and adopt practices for achieving higher performance and productivity. The knowledge which is share and transferred should be well developed for easy retrieval and adopting of the system.

Applying Knowledge Management In Education Applying KM in the education supported by ICT will be added advantage for the institution. In the recent years, the education institutions are looking forward for the growth in form of online courses, cyber colleges, and virtual universities around the world which provides tremendous opportunity for the potential students to opt for variety of courses at the click of the mouse. Petrides & Guiney, (2002) explained that KM can be used to support educational administration, which in turn supports teaching and learning. With the combination of KM and ICT tools, the education institution will be able to provide better educational facilities, administrative services, strategic planning process, student retentions, teaching-learning process, cost effectiveness, data transfer, collaboration, research, faculty development, admissions, expand new web based offerings; students and alumni services, research process curriculum development, work analysis etc. An institution-wide approach to KM can lead to exponential improvements in sharing knowledge - both explicit and tacit, subsequently surge benefits. Reasons For Adopting KM In Higher Education The study conducted by International data Corporation and knowledge management magazine (2001) among various companies which represented the reason for the use and adoption of KM are: Retain expertise of personnel; Increase customer satisfaction; Improve profit, grow revenue; Support e-business initiative; Shorten product development cycle; Provide project workspaces. Other reason can be included as sharing knowledge among

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different stakeholders in the university/ higher education institution; Navigate the complex issues; Access to database and resources; Project implementation and reporting; Faculty members and administrative issues; Assessment and evaluation; Knowledge development; New knowledge domain The researcher conducted a study for finding some of the reason which can elaborate the adoption and application of KM in higher education responded like: 1) Improve student accessibility towards learning; 2) Develop a action plan to improve teaching process; 3) Support students and teacher to adopt better pedagogical tool; 4) Support universities/ college / institution to improve databases, records, alumni services and management; 5) Provide research base education at higher level for development; 6) Assist academic staff with new skills; provide training, orientation to newly recruited teachers etc.; 7) Fulfill increased demand for new strategies that help management institutions meet external and internal demands; 7) Widen the scope of education to reach different areas and subjects; 8) Develop student and teachers to reach different areas and subject; 9) Retain expertise staff and academician; 10) Collaboration and joint research, implementation of project, faculty student exchange etc.; 11) Sharing knowledge among different components; 12) Internal documentation management; 14) Continuously keeping abreast strategic position in their rating; The study has been conducted in public, private and other higher education institutions who are offering various courses at different level. The name of the institution has not been revealed where study has been conducted due to policy reasons. It has been clear that the KM at higher education level of teaching, learning, research and other areas will be the better option for various reasons. In the light of the other reasons higher education institution are linked with the information and communication technology with KM. They are reasoned as: supporting web based technological learning; retain expertise & workforce with the technology based on KM application; cost effective use of technology to reach the students, potential admission and other related stakeholders; technology based support to business, industry including manufacturing and service organization; technology based learning where the higher education institution has lessened the country borders and cultural restriction; creating competitive and sustainable advantages; responding the requirement of the environment issues by technology based analysis; support the academic and other staff member with technology for faster and effective way for development; improve overall profit / revenue to meet the need. Challenges For Implementing KM Lack of KM tools and techniques During the past years very less number of training and development program has been developed to equip teacher and researcher with KM tools and techniques and technology based learning. Need for development in various higher education components for searching, extracting, sharing, transforming (tacit to explicit knowledge), dissemination etc. for easy adoption of KM. The individual component of higher education system will affect overall research and education. Relative low level of awareness and understanding The professional in higher education system are short of awareness and understanding in the use of information and technology for systematic and need based usage (Fuller 1996). This technical aspect shortens the scope of KM application. Relative undeveloped database

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The academician and other user are not readily accessible to the databases due to undeveloped area. The major form of access may be electronic and technological forms which require complex search and relative time consuming approach. Lack of availability of database and knowledge at easy access will create inefficiency. Lack of implementation of research based system The higher education experts are using single way of identifying and developing the educational system. They should concentrate on implementing research based system and act upon the initializing research based system design identifying the multidimensional areas and problem at various levels. The KM application will be basically focusing on the quality of the organizational process. The KM quality of the process will be based on effective capitalization of the available knowledge in both qualitative and quantitatively to add value for the overall contribution. The outline principle of the KM is to raise the value with the existing knowledge and intellectual capital creating competitive strength. The primary focus of knowledge management is to acquire, store, analyses, distribute and create new knowledge to add value of its product and services. Knowledge Management in Education may face several barriers that make it difficult to use and share data and information effectively in educational institutions (Petrides and Nodine, 2003). These barriers include: Lack of Staff; Disorganized information collection; Leadership; Lack of Integration of Technology; Unclear Priorities; Distrust of Data Use

Some Other Problems Implementing KM in an higher education institution (HEI) can face potential problem of culture and language differences (Kimble et al, 2000), geographical distance, other than the technological and place constraints. The problem varies form organizations to organization based on different aspect existing in the HEI. Some of these constraints are: Space and time constraints: Geographical space remains the major constraints with regards to the ICT support and other tools for applying KM in the regular process. Researches (Jarvenpaa and Leidner, 1998; Hepworth, 1989; Hildreth et al, 2000; Li, 1995) have already linked the space related constraints with the application of KM. Despite the rapid pace of ICT and the ability to move data across distances has not been fully utilized omitting social interaction due to the fact that people need social relationship as a basic need and cannot be removed from the main frame during implementation of KM. Note: It has been assumed that KM is applied throughout 24x7 for achieving its objective. It has been a fact that people and process will still be affected to confine with the time. Face-to-face interaction: Another problem which can be included is face to face interaction which may create constrains for knowledge sharing among the employees. Normally, human being as social element interacts with others, put trust and confidence based on the mutual interaction and relationship. The relationships are established during social interaction and face to face interaction which are duly lacking in KM especially when the geographical distance is large. In order to solve the problems, technologies such as video conferencing, MOOs, have been used for virtual presence. However, virtual interaction and collaboration find less effective, than activities performed in face-to-face interaction. The issue of trust and ambiguity that surrounds identity in the virtual world are most easily overcome in face to face interaction (Kimble et al, 2000). Language and cultural barriers: Effective communication can only take place when the language barriers can be solved. Language can cause possible communication

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problems in online communities where people come from countries that use different languages especially during the sharing and transfer of information from far distant places. Although English has established itself as the worldwide scientific and business language, many people still lack the proficiency in English to understand and communicate complex concepts and reasoning (Van den Branden, 2001). Cultural factors may also act as barriers for knowledge management process especially during creation, and sharing among different users and work group. Collaboration and trust: Importance of trust in an online community has been emphasized by researchers (Handy, 1995) and with the trust collaboration and exchange of knowledge can be possible. Galbreath, (2000) suggest to create domains of knowledge across departments that share academic interests or disciplines, create institutional knowledge networks and networks with other institutions and corporations. Social interaction and personal contact will support the establishment of trust and intimate relation which will be conducive to the KM process. Nonaka, Von Krogh and Ichijo, (2000) highlight that climate that fosters trust, care, and personal networks among employees is one of the most important conditions for high level of collaboration and knowledge sharing.

KM Framework In HE With the globalization of the market at micro level the higher education institutions and universities and are attempting to provide high-quality program to students along with that to attract large number of potential students regardless of location. The higher education institutions are facing high competition in local and international market due to globalization and rapidly changing technologies and increasing demand for quality education at affordable price and convenience. The global society realize the fact that the knowledge is one of the most important tool for stay ahead and consequently, knowledge management gain high importance especially in knowledge industry like higher education. Knowledge Management in Higher Education has become an integral part of the system with holistic commitment from all faculties, department and session constituting all stakeholders of the university. Knowledge management in educational settings should provide a set of designs for linking people, processes, and technologies and discuss how organizations can promote policies and practices that help people share and manage knowledge (Petrides & Nodine, 2003). Knowledge Management plays vital role in the knowledge industry involving capture, sharing, filtering and dissemination of knowledge for value derived process. The KM framework (fig.1) defines the relationships between KM factors, components and process giving understanding about the approach to use appropriate development for the higher education. KM framework constitute of KM factors acting as the backbone and act as guiding principles providing directions for a sound KM implementation. In absence of any of these factors, KM system fails to achieve its objective having difficulty to proceed further. Change in any of the KM factor will change in KM solution and results. The components follows KM factor with much deeper understanding and divisions. KM process constitutes of KM factor and KM components resulting in KM solution for the particular problem, learning and development through innovation. KM process includes knowledge capturing, knowledge storage, knowledge distribution, sharing and exploration resulting in KM solution and decision making. In higher education the KM framework results in continuous learning, development and innovation. The knowledge being capture through research and development will be used as intellectual capital enhancing the process of getting knowledge from tacit to explicit for easy retrieval and usage.

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Benefits Of KM In Higher Education KM in teaching and research Achieve effective delivery Collaboration between various component, internally and externally for teaching and research Curriculum enhancement Effective use of technological aids for effective course delivery Increased adaptability for research, funding and commercial opportunities Leverage previous research findings Effective training and development process Minimize replication of activities Reduce cost of overall research Reduce risk of uncertainty KM in Development process Create quality practices and program outcomes Enhance evaluation and administrative activities Develop teaching and learning process to achieve quality outcomes Enhance faculty development and other development programs Develop external and internal relationship Foster innovation by sharing Ensure proper information transfer Improve faculty, student, alumni and staff affairs and services Develop and facilitate inter departmental relationship Improved adaptability to teaching and learning process Technological advancement KM in strategic planning Develop competitiveness and competitive response Support in administrative strategic planning Enhance strategic decision making (resource allocation) Improve performance indicators by monitoring and assessment Support in financial strategic planning (budgeting) Enhance students-faculty retention rates by recognizing the value of employees Reorganize operations and reduce costs by eliminating duplication and redundant processes Improve service by reducing time Boost services for quality delivery Improve sharing and strategic collaboration Support informational strategic planning Other Benefits Of KM Other benefits of KM in higher integrates academics, developing administration modules, faculty feedback, provide access and develop online resources for teaching and learning, evaluation of courses, handling students query, assignments submission, verify records and reporting, interface with intranet, grading, build and design programs and courses, integrated with other campuses, conduct and monitor examinations, counseling, information management, technological development, staff management, library development etc.

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The major objective of KM is to acquire and sharing knowledge and transfer of individual experience and knowledge to organizational capabilities (Yang, 2007). Higher the rate of individual knowledge sharing and transfer of individual knowledge transfer, higher the strength of the organization for achieving better learning. The major impact of KM in the higher education is more likely to affect the teaching-learning and research at both department and at institutional level. The knowledge sharing and transfer depends on various factor ranging from individual to organization and various other factors like incentives, motivation, concentration, beliefs, values, culture, cohesiveness etc. Studies found relationships between education levels and experience, a high degree of education with a lot of work experience, thus sharing this experience with others depended on the personality. Implementation Of KM The higher education institution should take high care while implementing KM tools and techniques. The forwarded recommendation suggests some of the thing that should kept in mind while implementing KM techniques at institutional level: Rapid implementation The institution should develop smooth and effective strategy and action plan to implement KM application. Pilot projects of KM application will help to create awareness and to measure the impact in terms of creating sustainable competitive advantage, overall cost benefits, easy adoption of the system and credibility Implementation of appropriate ICT tool to support knowledge sharing and transfer. Develop institutional infrastructure and strategy The institution should adopt specific technology, develop overall infrastructure and make strategy for implementation, measurement, support activities and efficiency. The strategy should be well framed for easy adoption of KM with low risk. Sharing relevant cases, databases from internal and external sources having quality and standards Top management to achieve high level reliability For the successful use and implementation of KM the top management achieves high level of reliability for the success of the approach. This can be only created with understanding and measuring the impact in various terms like financial, cost reduction, relationship, development and benefits. Development of Knowledge team The team should be set up for implementing KM project essentially at initial stages for planning a role of a mediator which exert the supportive role among the employees in the institution. Identify well defined practices and knowledge reuse for exerting new result and performance. Redefine the KM process The development of the action can be redefined after implementing and adopting new uses and areas related to KM. RESEARCH METHODOLOGY DESCRIPTIVE RESEARCH DESIGN The investigator has decided to undertake descriptive research design for she felt that it would be appropriate for this particular study. Descriptive research design is the identification of the problem. This was implemented , by stating the problem of the study

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The problems are as follows. 1 .What are the challenges faced by the educational institutions in implementing knowledge management strategy? 2. Who are the key drivers of knowledge management? 3. What are the benefits derived from Knowledge management in the field of education? 4. What the factors of organisational environment? 5. Which the suitable approach to the implementation of knowledge management? SAMPLE DESIGN Non-random sampling method is adopted(i.e) the respondents to my study is not selected at random. The sample size selected is 30. DATA COLLECTION Data can be divided into to (1) Primary data (2) Secondary data. Method of collecting secondary data. Secondary data for this study was taken from research articles published in magazines, books, perodicals, newspaper etc. Method of collecting primary data There are various method of collecting data. Such as interview method, questionnaire method, preparing schedules, observation method etc.The researcher used interview method to collect the data. ANALYSIS AND INTERPRETATION The investigator used various statistical tools such as pie diagram graphs ,etc to analyse the data . LIMITATION OF THE STUDY There are few limitation of the study 1. Time available for the study is limited. 2. Data available is not sufficient to cover all aspect. 3. The area covered for the study is narrow. 4. The very difficult thing is to meet the people concern and get the information. 5. In many companies they are not willing to co-operate and provide the investigator with sufficient information. ANALYSIS AND INTERPRETATION OBJECTIVE No.1 To find out the challenges faced by the educational institutions in implementing the knowledge management strategies.

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TABLE No. 1 CHALLENGES FACED S.NO 1 2 3 4 CHALLENGES No. OF RESPONDENTS 20 PERCENTAGE 40 24 20 16 100

Lack of KM tools and techniques Relative low level of awareness 12 and understanding Relative undeveloped database 10 Lack of implementation of 08 research based system TOTAL 50 DIAGRAM No.1 CHALLENGES FACED

From the data given above, the respondents say that the most important challenge faced in the implementation is Lack of tools and techniques (40%) and then Relative low level of awareness and understanding of knowledge management strategies (24%) and then Relative undeveloped database (20%). OBJECTIVE No.2 To identify the problems in the implementation of knowledge management TABLE No. 2 PROBLEMS OF KNOWLEDGE MANAGEMENT DIAGRAM No.2 PROBLEMS OF KNOWLEDGE MANAGEMENT S.No PROBLEMS OF KNOWLEDGE MANAGEMENT Space and time constraints Face-to-face interaction Language and cultural barriers Collaboration and trust Facing high competition TOTAL No. OF RESPONDENTS 06 08 07 11 21 50 PERCENTAGE

1 2 3 4 5

12 16 14 22 42 100

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PROBLEMS OF KNOWLEDGE MANAGEMENT

Space and time constraints Face-to-face interaction

From the data given above, the most of the problems faced are Facing high competition (42%) and then Collaboration and trust (22%) and then Face-to-face interaction (16%). OBJECTIVE No. 3 To inculcate the benefits derived using knowledge management in the field of education. TABLE No.3 BENEFITS DERIVED BENEFITS DERIVED No. OF S.No PERCENTAGE RESPONDENTS KM in teaching and research 1 13 26 KM in Development process 2 09 18 KM in strategic planning 3 07 14 Develop online resources for 4 08 16 teaching and learning, Integrates academics 5 06 12 Developing administration 6 07 14 modules, TOTAL 50 100 DIAGRAM No.3 BENEFITS DERIVED

BENEFITS DERIVED
KM in teaching and research KM in Development process KM in strategic planning Develop online resources for teaching and Integrates academics Developing administration modules,

From the data given above, most the benefits derived from the implementation of knowledge management is teaching and research (26%) and then is in Development process (18%) and then Develop online resources for teaching and learning (16%).

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OBJECTIVE No. 4 To analyse the various factors of organisational environment. TABLE No.4 FACTORS OF ORGANISATIONAL ENVIRONMENT. FACTORS OF No. OF ORGANISATIONAL PERCENTAGE RESPONDENTS ENVIRONMENT. Organisational behaviour 07 14 Organisational learning 10 20 Organisational climate 08 16 Leadership 10 20 Motivation 09 18 Relationship among peer group 06 12 TOTAL 50 100 DIAGRAM No.4 FACTORS OF ORGANISATIONAL ENVIRONMENT .

S. No 1 2 3 4 5 6

From the data given above, the most important factor of organisational environment is Leadership and Organisational learning (20%) and motivation (18%). OBJECTIVE No. 5 To establish the relationship between the factors required in the implementation of knowledge management strategy.

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TABLE No.5 FACTORS REQUIRED IN THE IMPLEMENTATION FACTORS REQUIRED No. OF S.No IN THE PERCENTAGE RESPONDENTS IMPLEMENTATION Rapid implementation 1 02 04 Implementation of 2 09 18 appropriate ICT tool Develop institutional 3 10 20 infrastructure and strategy Sharing relevant cases 4 06 12 Top management to achieve high level 5 05 10 reliability Development of 6 09 18 Knowledge team Identify well defined 7 05 10 practices Redefine the KM process 8 04 08 TOTAL 50 100 DIAGRAM No.5 FACTORS REQUIRED IN THE IMPLEMENTATION

FACTORS REQUIRED IN THE Rapid implementation IMPLEMENTATION

Implementation of appropriate ICT tool Develop institutional infrastructure and strategy

From the data given above, the most important factors required in the implementation of knowledge management strategy is Develop institutional infrastructure and strategy (20%) and Implementation of appropriate ICT tool and Development of Knowledge team (18%). FINDINGS From the data given above, the respondents say that the most important challenge faced in the implementation is Lack of tools and techniques (40%) and then Relative low level of awareness and understanding of knowledge management strategies (24%) and then Relative undeveloped database (20%). From the data given above, the most of the problems faced are Facing high competition (42%) and then Collaboration and trust (22%) and then Face-to-face interaction (16%).

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From the data given above, most the benefits derived from the implementation of knowledge management is teaching and research (26%) and then is in Development process (18%) and then Develop online resources for teaching and learning (16%). From the data given above, the most important factor of organisational environment is Leadership and Organisational learning (20%) and motivation (18%). From the data given above, the most important factors required in the implementation of knowledge management strategy is Develop institutional infrastructure and strategy (20%) and Implementation of appropriate ICT tool and Development of Knowledge team (18%).

CONCLUSION AND RECOMMENDATIONS The existence of the knowledge and the development of knowledge sharing culture with learning environment will create opportunities for innovation and creativity. Higher education institutions have significant opportunities to apply knowledge practices to support every part of their mission. In the recent years, the education institutions are looking forward for the growth in form of online courses, cyber colleges, and virtual universities around the world which provides tremendous opportunity for the potential students to opt for variety of courses at the click of the mouse. The primary focus of knowledge management is to acquire, store, analyses, distribute and create new knowledge to add value of its product and services. Knowledge Management in Higher Education has become an integral part of the system with holistic commitment from all faculties, department and session constituting all stakeholders of the university.

PERFORMANCE MANAGEMENT SYSTEMS - A STUDY TOWARDS STUDENTS KNOWLEDGE AND UNDERSTANDING

N.POORNA CHELVAN, Assistant Professor, Department of Management Studies, Dr.T.VANNIARAJAN, Associate Professor, Department of Business Administration, NMS S.Vellaichamy Nadar College, Nagamalai, Madurai 19. ABSTRACT Performance management (PM) is a field of management knowledge where progress is driven by contributions from multiple disciplines of management and complemented by the work of practitioners. As such, the field has many roots and a rich heritage. During the last two decades of the past century performance management progressed from recommendations on improving performance to formulating performance measurement frameworks and finally to the discussion of performance measurement systems. In the modern business situation, organizations are operating in a highly competitive environment. To survive competition in a healthy environment it is very crucial for the organizations to continuously strive to improve the performance. Performance of the organization depends not only on full utilization of available resources at least cost and upgrading technology to get benefits of economies of scale but also influence manpower planning and motivates employees towards desired direction for improving their performance on execution of specified tasks. For achieving the strategic objective of sustained & speedy growth, managing human resource has featured as a vital requirement in all organizations This research is mainly focused to find out the knowledge of students about Performance Management system. The research also aims at finding various factors that affects the students performance. A detailed study is conducted from the final year HR Elective students of Master of Business Administration of Colleges with the help of structured

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questionnaire. The collected data is analyzed using statistical tools and the study reveals that most of the students have awareness towards the performance management. This study will also help the faculties of the Department to identify the students behavior and to design their objectives accordingly and also it gives an improved performance planning of the students in future scenario. KEYWORDS: Performance, Performance Management system. Performance planning 1. INTRODUCTION: One of the most important success factors in todays turbulent and competitive business environment is an energetic, competent, motivated, productive and highly committed and innovative human resource. With the realization that Human Resource (HR) is indeed an organizations valuable asset and hence, a source of competitive advantage, there is a need for organizations to address the effectiveness of their employee participation in decision making, performance appraisal and career planning systems as well as how responsive these practices are in enhancing job commitment of employees. Performance management is the practice of actively using performance data to improve an organizations performance. This practice involves strategic use of performance measures and standards to establish performance targets and goals, to prioritize and allocate resources, to inform managers about needed adjustments or changes in policy or program directions to meet goals, to frame reports on the success in meeting performance goals, and to improve the overall quality of work in any organization. Alternatively Performance Management is also the process of creating a work environment or setting in which people are enabled to perform to the best of their abilities. Performance management is a complete work system that begins when a job is defined as needed and ends when the employee performs according to the standards laid by an employee. The goal of performance management is to achieve the company mission and vision. An effective performance management system sets new employees up to succeed, so they can help their organization succeed. It provides enough guidance so people understand what is expected of them. It provides enough flexibility and room so that individual creativity and strengths are nurtured. It provides enough control so that people understand what the organization is trying to accomplish. Today is the era of knowledge work and knowledge workers, where work is informationbased and working is a mental activity, work routines are configured by the workers in response to fluid, changing requirements. The task of management in this new world of work is to enable and elicit employee contributions of value to the organization and to continue with a system designed to exact and enforce compliance is not correct, hence the need for newer performance managements systems becomes the need of the day. 2. PERFORMANCE MANAGEMENT: Performance Management is a collaborative, on-going process between a supervisor and an employee to plan for, develop, and evaluate an employees work. It focuses on what employees do and how they do it; it aligns individual, departmental, and organizational goals; it identifies areas for employee learning; and, performance management includes opportunities to discuss and plan for an employees career development. It means setting goals that make sense in terms of the companys strategic aims. It means daily or weekly interactions to ensure continuous improvement in the employees capacity & performance.

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Clinton Wingrove (2003) stated that it means ensuring that the employee has the training he or she needs to perform the job. It is a process of creating a work environment in which people can perform to the best of their abilities. , Snell/Bohlander (2009) describes that Performance management takes a life cycle view of employee performance & sees an integrated process which is linked to the attainment of corporate goals, business processes while at the same time helping the individual to attain his career goals & group goals effectively. Performance management includes: Planning Monitoring Developing Rating Rewarding The aim of performance management as a business process is to align corporate goals with the individual objectives, ensures individual readiness to achieve objectives and evaluate & reward individual performance in terms of those objectives. 3. REVIEW OF LITERATURE: Performance management never just means with a subordinate, once or twice a year to review your performance. HM Treasury (2001) describes Performance Management as Managing the Performance of an organization or individual. Whilst this is not a precise definition grounded in literature it demonstrates the breadth of performance management and hence the difficulties in defining its scope, activities and practices. It demonstrates that performance management is concerned with the management of performance throughout the organization and as a result is a multidisciplinary activity. Armstrong and Baron (2003) highlight the importance of performance management being strategic, integrated (vertical, functional, HR integration and integration of individual needs), concerned with performance improvement and concerned with development. the use of PMS improves the performance and overall quality of an organization (Linge and Schiemann, 1996; Lawson et al., 2003; de Waal and Coevert, 2007). Mohrman and Mohrman (1995) say that Performance Management practices must drive from and be tailored to fit each organizations changing requirements. This will lead to wide diversity of practices. Kermally (1997) believes that performance management should support corporate strategy formulation and monitor value drivers, (i.e) those elements that really make the business profitable. Lockett (1992) stress that the essence of performance management is the development of individuals with competence and commitment, working towards the achievement of shared meaningful objectives within an organization which supports and encourages their achievement. Performance management is a systematic effort to improve performance through an ongoing process of establishing desired outcomes, setting performance standards, then collecting, analyzing and reporting on streams of data to improve individual and collective performance (Whitaker et al., 1982). 4. OBJECTIVES The main objective of performance management is continuous improvements in performance with a view to attaining organizational goals. The performance improvements need to be seen in terms of achievement of the objectives and goals of the organization.(1) To what extent the importance of PM viewed by students. (2) To know the factors which affects the performance of students in their academic career?

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5. METHODOLOGY: The research is of descriptive nature, based on the primary data but secondary data has also been collected from various sources as per the requirement. The target population of the study included 50 HR students who are studying MBA and taken HR specialization in some of the Madurai colleges. A Non-probability, convenience sampling technique was used to administer student survey. To obtain information, a structured questionnaire was formulated and a Likert scale ranging from Most Unimportant(1) to Most Important(5) was related to different important factors of respondents which are analyzed by using Non-parametric test Krus wallis & weighted average method. 6. ANALYSIS & INTRPRETATION TABLE 1: Table showing the Gender wise classification of the respondents S.No Particulars Frequency % of Respondents 1. Male 32 64% 2. Female 18 36% Total 50 100% In total 64 percent of the total respondents are male whereas the remaining 36 percent are female. TABLE 2: Table showing the Need of Performance Management in an Organization: S.No Particulars Frequency % of Respondents 1. Yes 35 70% 2. No 15 30% Total 50 100% 70% of the respondents accepted the need of Performance Management in the organization. TABLE 3: Table showing the Importance of Performance Managements by HR students
Mean Ranks of the Importance of Performance Managements by HR students Least Not at Most Importa Neutral Importa all Important nt N=5 nt Importa N=28 N=10 N=7 nt 25.54 25.07 24.29 22.00 29.35 29.00 28.90 25.30 31.00 24.00 20.90 26.90 15.93 23.29 28.79 38.79 --------------------Krus Wallis Sig (5%)

S.No

Statements

1. 2. 3. 4.

5. 6. 7.

Setting of challenging and stretching goals Focus on Developmental aspect Distracts people from core activities Tool in the management of organizational culture Continuous and Integrated part of Employee-Manager relationship To motivate goals Performance effectiveness measured in both quantitative &

5.244 1.210 1.867 8.536

.155 .751 .601 .036*

27.35 27.11 29.29

26.75 28.00 28.90

23.20 20.50 22.30

14.71 19.07 7.79

----------------

5.399 3.588 17.105

.145 .310 .001*

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qualitative terms 8. 9. Individuals and their long-term development Record of an individuals progress and performance No value for individuals, only for organization 24.29 23.21 28.90 27.50 20.90 32.50 28.79 26.79 ----------1.867 2.782 .601 .426*

10.

24.29

28.90

20.90

28.79

------

1.867

.601

Source: Primary Data

Degree of Freedom -3

From the table, it was inferred that there is a significant difference between the extents of importance on performance management for it is tool in management of organizational culture, performance effectiveness measured in both quantitative and qualitative terms and record of an individuals progress and performance. Most of the students viewed Performance Management as most important in measuring performance effectiveness in both quantitative and qualitative terms and it is followed by continuous and integrated part of Employee-Manager relationship and their mean rank score are 29.29 and 27.35 respectively. Some HR students considered performance management is important in setting of challenging and stretching goals and it is followed by it focus on development of employees and their mean rank scores are 29.35 and 29.00 respectively. TABLE 4: Table showing the factors which affect the performance of students
Of Res pon den No. of Sco res Of Res pon den No. of Sco res Of Res pon den No. of Sco res Of Res pon den No. of Sco res Of Res pon den No. of Sco res Total No. Of Respondents Total No. Of scores 190 152 169 179 185 143 131 180 Ranks Assigned No opinion (3) Factors affecting performance of students Most Important (5) Important (4) Least Important (2) Not at all Important(1) Weighted Average 3.80 3.04 3.38 3.58 3.70 2.86 2.62 3.60

S.No

1. 2. 3. 4. 5. 6. 7. 8.

Poor Skill No Role Clarity No specific goals Lack of Motivation Lack of Commitment Quality of support from friends Family situations &pressures Lack of guidance & encouragement

18 13 9 15 17 5 4 11

90 65 45 75 85 25 20 55

16 8 20 13 12 15 14 22

64 32 80 52 48 60 56 88

4 6 8 12 11 9 7 5

12 18 24 36 3 18 21 15

12 14 7 6 9 19 9 10

24 28 14 12 18 38 18 20

_ 9 6 4 1 2 16 2

_ 9 6 4 1 2 16 2

50 50 50 50 50 50 50 50

The above table shows the factors which affect the performance of respondents mostly and those factors were rated on the level of importance. The mean rating of factors in terms of importance came to be significantly the highest for poor skill followed by lack of commitment. The 3rd rating factors were lack of guidance and encouragement. No role clarity and lack of motivation 4th level of importance. The next 5th level of importance was secured by having no specific goals in life. 7. FINDINGS:

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The findings of the study reveal that the respondents have some knowledge about performance management and their importance for life. Most of the students viewed Performance Management as most important in measuring performance effectiveness in both quantitative and qualitative terms and then as a base for creating and maintaining a cordial relationship between superior and subordinate. Some considered performance management as an important tool in setting of challenging and long term goals and also to focus on development of employees. 8. CONCLUSION: The study shows that performance management is understood and known by students. Some have their personal plans for development and they align with that of the organizational goals also. Thus the present study concludes that performance management can be made in all the organizations since it focuses on the welfare of the employees and also the organization. 9. LIMITATIONS AND FURTHER RESEARCH: This study has some limitations. The main limitation is that the study has been done only to a limited sample of HR students only. Also the area of sampling is restricted for convenience to Madurai city only. The scope for further study can be broadened to all the students who do Masters degree so that we can understand the performance level of the students. Further we can also identify the factors which affect the performances of the students and align them to succeed in their career path. REFERENCES: 1. HM Treasury (2001) Choosing the Right Fabric 2. Armstrong, M. and Baron A. (2003) Performance Management: The New Realities, Chartered Institute of Personnel and Development. 3. Linge, J.H. and Schiemann, W.A. (1996), From the balanced scorecard to strategic gauches: is measurement worth it?, Management Review, Vol. 85 No. 3, pp. 5661. 4. Mohrman A.M and Mohrman S.A.(1995) Performance Management is running the business .Compensation @ Benefits Review. July August. pp 69-75. 5. Kermally S.(1997) Managing Performance. Oxford, Butterworth-Heinemann. 6. Lockett J.(1992) Effective Performance Management: A Strategic guide to getting the best from people. London Kogan page. 7. Whitaker, G., Mastrofski, S., Ostrom, E., Parks, R.B. and Percy, S.L. (1982), Basic issues in police performance, National Institute of Justice, Washington, DC, July. 8. Clinton Wingrove, Developing an effective blend of process and technology in the new era of Performance Management Compensation and benefits review , January/ Feb. 2003, p.27. 9. Human Resources Management, Snell/Bohlander, cengage learning, Sixth Edition, 2009.p-332.

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A STUDY ON SOURCES OF CONFLICT AND CONFLICT MANAGEMENT STYLE IN IT AND ITES COMPANIES IN COIMBATORE DISTRICT
Dr. Visaga moorthi Asst Professor P. Suganthi Student SUMMARY: Conflicts are inevitable in organization. "Conflict itself is not a destructive force, but conflict left unaddressed is ". Unaddressed conflicts create mistrust, suspicion, dishonesty, defensiveness, conspiracy and barriers. (Roth p36). A study was proposed to find out the sources of conflict and present conflict management style in IT and ITeS organizations with reference to Coimbatore region. In recent times, the service sector is growing faster due to the communications and technological changes leading to the concept of global village. Organizations have become labor intensive, due to which chances of conflict are high when compared to capital intensive industries. A study was conducted to assess the sources of conflict in three perspectives organizational, managerial and individual. The method of conflict resolution style in the organization was administered through a questionnaire with modified ROCI II on four different styles dominating, avoiding, integrating and compromising. The results are analyzed for finding out the major source of conflict and predominant conflict management style in the organization. With these findings measures for reducing conflict and improving effectiveness of conflict resolution are discussed. INTRODUCTION: Conflict is a clash of interests, values, actions, views or directions (De Bono, 1985). Conflict management is the process of planning to avoid conflict wherever possible and organizing to resolve conflict where does it happen, as rapidly and smoothly as possible. The sources of conflict were studied with respect to various levels i.e. Organizational, managerial, individual level. The conflict resolution style that is prevailing is studied using a modified ROCI. The objectives of the study are 1. To study the sources of conflict in organization. 2. To study the conflict management style prevailing in the organization. The samples of 142 from 4 different IT and ITES companies (2 IT and 2 ITES) were collected. The information is collected from team members and convenience sampling was done in each company. 36 samples from company A, 32 samples from company B, 29 samples from company C and 45 samples from company D were chosen. LITERATURE REVIEW: Lederach (1995) described conflict as an ongoing situation that is based on deep seated differences of values, ideologies and goals. Fisher et all (2004) defined conflict as a relationship between 2 or more parties (individuals or groups) who have or think they have incompatible goals. Yesufu (1984) said conflict is a normal and inevitable part of everyday life. According to otobo (2000) internal sources of conflict would include style of management, nature of physical environment of workplace, orientation and social consciousness of workers, other conditions of service, efficacy or otherwise of promotion system, cumbersomeness of grievance and disputes procedure. There are four stages in conflict latent, perceived and felt, manifest and outcome (frazier and Rody 1991).

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Statistical analysis of perceptual data obtained from 72 managers of an aluminium manufacturing organisation operating in the public sector, indicated that matters relating to the technical and operative aspects of job emerged as important issues of superior subordinate conflict whereas individual differences between managers were viewed as the significant sources of such conflict.(Management of Superior-Subordinate conflict: an Exploration-Rabinarayan Samantara-IJIR vol38 apl 2003). The five methods of conflict management examined are withdrawing, smoothing, compromise, forcing and problem solving. An analysis of conflict management methods in terms of their impact on perceived measures of organisational effectiveness, ie, productivity, adaptability, and flexibility revealed that problem solving was the most effective method of conflict management followed by smoothing behaviours.(conflict management strategies and organisational effectiveness, Rabinarayan Samantara (IJIR, vol 39, jan 2004). The reasons behind conflict between line managers and HR was studied in manufacturing and IT/ITeS sector was studied. The major reasons for disagreement were promotions, salary, transfers, managing attrition, handling employee grievance, designing performance appraisal, evaluating employee performance and planning carriers. Conflicts arise due to misperception, faulty communication, and failure to find out the expectation of the line managers.( Line and HR conflict-M.Srimannarayana). METHODOLOGY A sample comprising of 142 employees in IT and ITeS companies were selected from Coimbatore region. Questionnaire was used as a tool for assessing the sources of conflict and the conflict resolution style in the organisation. The sources of conflict consisted of 16 items in organisational perspective, 6 items in managerial perspective, and 18 items in individual perspective. To measure the conflict resolution style in the organisation 2 items on dominating, 2 items on avoiding, 2 items on integrating, and 2 items on compromising were employed. The employees view about the style which they found to be effective conflict management was also collected. Non probability sampling method like Convenience sampling method was used for data collection. The likert scale was used ie strongly agree, agree, neither agree nor disagree, disagree, and strongly disagree. The gender wise segregation found 64 male respondents and 78 female respondents. 24 respondents fall under below 10,000 income range, 88 under income range from 10,001-20000, 27 under income range of 20,000-30,000. 108 samples follow under the age range of 20-30 years and 34 samples under the age range of 30-40 years. The sources of conflict were analysed and ranked accordingly. ANALYSIS: The analysis was made by filtering the agree and disagree details and they were ranked. The top ten major sources of conflict was identified with respect to organisational, managerial, and individual. A correlation was worked out for the organisational, managerial and individual taking an average individually. Correlation was worked for the factors in all conflict management styles and the effective conflict resolution style mentioned by the team members.

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RESULTS AND DISCUSSION: The major sources of conflict with respect to organisational aspects are unmanageable work time, insufficient holidays, insufficient resources, too many reporting persons, due to job rotation, lack of appreciation, job insecurity, lack of transparency in promotions, lack of grievance handling procedures, lack of scope for personal development. The major sources of conflict with respect to managerial aspects are poor interpersonal skills, no respect for the opinions, partiality of the superior, doesnt share information, inefficiency, and lastly doesnt bring into lime light the performers in the team. The major sources of conflict in the individual level of the organisation are lack of channelizing information, poor communication, lack of work sharing, lack of co-operation, lack of knowledge sharing, lack of confidence, personal dislikes, difference of opinion, gender dislikes, and lastly monotonous job. The correlation worked out between the organisational, managerial and individual shows there is a perfect positive correlation between them. Correlations organisational organisational Pearson Correlation Sig. (2-tailed) N managerial Pearson Correlation Sig. (2-tailed) N individual Pearson Correlation Sig. (2-tailed) 142 .769 .000 142 .759 .000
** **

managerial .769 .000 142 1 142 .777 .000 142

** **

individual .759** .000 142 .777** .000 142 1 142

N 142 **. Correlation is significant at the 0.01 level (2-tailed).

The correlation values between the effective conflict style preferred and dominating as well as avoiding aspects were found to be negative. The correlation values between the effective conflict style preferred and integrating as well as compromising aspects were found to be positive. The results were found that the employees prefer integrating and compromising styles against avoiding and dominating styles. The correlation values between dominating and avoiding, integrating, compromising was found to be lower. The correlation values between avoiding and other three was also found to be low. The correlation values between the integrating and other three was also found to be low. The correlation values between the compromising and other three was also found to be lower. CONCLUSION: The major sources of conflict was found to be unmanageable work time, insufficient holidays, too many reporting persons (organisational) and poor interpersonal skills, does not

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respect the employees opinions, partiality (managerial) and lack of channelizing information, poor communication, lack of work sharing (individual). There exists highly close relationship between the organisational, managerial, and individual sources of conflict. The employees prefer integrating and compromising styles of resolving conflict against the avoiding and dominating styles. LIMITATIONS OF THE RESEARCH: The research is subjected to only Coimbatore district. Secondly only team members were taken as samples. Team leaders and others could also be included. The major demography age was only between 20-30 years (107). Does not include any product oriented companies. BIBLIOGRAPHY: Research Methodology C.R.Kothari New age international publishers Statistical Methods for practice and research A guide to data analysis using SPSS- Ajai S.Gaur, Sanjana S. Gaur 3. Evaluation of conflict resolution questionnaire Marcus Henning 2003. 4. Conflict management strategies and organisational effectiveness- Rabinarayan Samantara, IJIR vol 39, no 3, jan 2004 5. Management of superior subordinate conflict an exploration - Rabinarayan Samantara, IJIR vol 38, no 4, jan 2003 6. Line and HR conflict empirical insight M.Srimannarayana IJIR apl-2012 7. Assessing Suitability of Rahim Organisational Conflict inventory II in Indian and family owned and managed business. Mita Dixit1 Debasis Mallik2 8. Conflict management- www.etu.org.za/toolbox/ docs/building /conflict.html #what 9. A theory based measure of conflict management strategies in the work place Carsten 10. Conflict management Vijay K.Verma 1. 2.

QUALITY OF WORK LIFE FOR FINANCE PROFESSIONALS IN INDIA P.VIJAYAKUMAR M.B.A., M.Phil, ResearchScholar, KARPAGAM UNIVERSITY, Coimbatore G.SIVARAMA KRISHNANA, Professor, Department of Management Studies, Karpagam College of Engineering and Technology, Coimbatore INTRODUCTION Quality of Working Life is not a unitary concept, but has been seen as incorporating a hierarchy of perspectives that not only include work-based factors such as job satisfaction, satisfaction with pay and relationships with work colleagues, but also factors that broadly reflect life satisfaction and general feelings of well-being (Danna 2001). More recently, work-related stress and the relationship between work and non-work life domains (Loscocco 2002) have also been identified as factors that should conceptually be included in Quality of Working Life. Work is an integral part of our everyday life, as it is our livelihood or career or business. On an average we spend around twelve hours daily in the work place, which is one third of our entire life; Even if it is a small step towards our lifetime goal, at the end of the day it gives satisfaction and eagerness to look forward to the next day. Regular assessment of Quality of Working Life can potentially provide organizations with important

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information about the welfare of their employees, such as job satisfaction, general wellbeing, work-related stress and the home-work interface. KEYWORDS Job satisfaction, Autonomy, Job security, Quality of Work Life (QWL) & Stress. OBJECTIVES OF THE STUDY 1. To measure the Quality of Work Life among Finance Professionals of select MNCs in India. 2. To identify the impact of the following attributes on the measure level of Quality of Work Life among the Finance Professionals: Work Attitude, Job Satisfaction, Autonomy, Pay / Pay-Equity, Stress, and Job Security. HYPOTHESES Hypothesis 1: There is no significant association between the demographic profiles of finance professionals with their perception about QWL. Hypothesis 2: There is no significant association between job satisfaction and QWL. Hypothesis 3: There is no significant association between autonomy at work and QWL. Hypothesis 4: There is no significant association between attitude of management towards employees and QWL. REVIEW OF LITERATURE David (2008) defines QWL as "the quality of the relationship between employees and the total working environment, with human dimensions added to the usual technical and economic considerations". Quality of Working Life cannot be attained unless all needs arising in organizational settings are taken care of (Sinha 2009). As organizations are struggling to survive and become more efficient, an accrued interest has evolved around the concept of professionals working life. (Donald 2010). Quality of Work Life (QWL) should be viewed as a two way process, from organizational perspective it should consider, employee as the most important resource as they are trustworthy, responsible and capable of making valuable contribution and they should be treated with dignity and respect (Heckscher, 2011). Whereas from the employee's perspective, QWL should be conceived as a set of methods, such as autonomous work groups, job enrichment, high-involvement aimed at boosting the satisfaction and productivity of workers (Feuder,2012).

RESEARCH METHODOLOGY The current study has a descriptive research design that aims at gauging the demographic profile and perception of 35 financial professionals of three MNCs in India, towards Quality of Work Life and its different constructs. A random representative sampling technique was used to retain its representatives and as it is commensurate with this quantitative research studies. The primary data was tabulated and analyzed using simple percentage analysis for the demographic profile of the respondents and demographic variable, as well as the independent variables through t-test and correlation analysis.

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RESULT HYPOTHESIS TESTING Ho: There is no significant association between the demographic profiles of finance professionals with their perception about QWL. H1: Null hypothesis is accepted, as the t-test clearly indicated that there is no positive association between gender and quality of work life. Most of the other demographic variables too like age, nationality, work experience and extra hours at work had no significant association with QWL. Ho: There is no significant association between job satisfaction and QWL. H2: Null Hypothesis rejected, as it has been proven statistically that there is significant association between job satisfaction as an independent variable and QWL. Ho: There is no significant association between autonomy at work and QWL. H3: Null Hypothesis rejected, as it has been proven statistically that there is significant association between autonomy in decision making as an independent variable and QWL. Ho: There is no significant association between attitude of management towards employees and QWL. H4: Null Hypothesis rejected, as it has been proven statistically that there is significant association between attitude of management towards employees as an independent variable and QWL. SUGGESTIONS&CONCLUSON The researchers suggest the following strategies to the corporates and policy makers that will enable in enhancing the existing perception of Quality of Work Life among the finance professionals. We all desire a work experience that can fit neatly with our personal lives. The following ten tips are designed to apply as much to the CEO as they do to the front line worker: 1) Have a personal vision of who you want to be and what you want to. 2) Share your successes - this allows you to learn from the successes of others, as well as giving you a boost when you need. 3) Take time for breaks - pay particular attention to the need to refresh body, mind and spirit. 4) Try out new ideas - to innovate is to grow. By using your creativity and innovation life becomes exciting and fulfilling.

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AN ANALYTICAL STUDY OF PERFORMANCE APPRAISAL SYSTEM OF THE SELECTED INFORMATION TECHNOLOGY (IT) SERVICE COMPANIES IN CHENNAI (TAMIL NADU) M.RAVISANKAR, Research Scholar, Department of Business Administration, Dr.K.SAKTHIVENDAN, Assistant Professor, Department of Business Administration, Annamalai University ABSTRACT Thomas wayne Brazell once rightly remarked, when your work speaks for itself, get out of the way. Organizations today survive on performance. But what speaks for the performance of an individual? It is a process known as the performance appraisal where the management gets to know how successful and effective it has been in hiring and placing its employees. In recent years, performance management has become more important because managers are under constant pressure to improve the performance of their organizations. It is now realized that the performance of organizations influence the organizations continued existence and success. The increasing realization that one of the key roles of managers is to manage employees performance is the key to the success of management in general and performance management in particular. It is now well accepted that performance management is a wider concept than performance appraisal. Appraisal being part of performance management plays a vital role in encouraging desirable performance and discourages undesirable performances before they become ingrained.other than salary hike, performance appraisal has several objectives. It is also equally important that it is a periodic, transparent, motivating, effective, and an unbiased activity. It should not be a cause of disharmony amongst employees With above aim in view, the researcher has made an attempt in this work to gather and critically examine the valuable inputs from various representative IT Service companies and carry out a deductive/inductive analysis of the qualitative and quantitative data for arriving at desired results. The researcher has done detailed analysis of performance appraisal system of the selected IT service companies. This research comes up with a view that the respondents of the selected IT service industries are in agreement with their existing performance appraisal system. KEYWORDS : Performance Management, Performance appraisal system, Case study, IT Service Companies INTRODUCTION The most common challenges faced by any organization these days relate to talent retention, increasing productivity and profitability, An organizations survival greatly depends on its ability to efficiently manage the available resources and remain competitive in a continually changing business environment. In such a situation, employee performance and productivity have ceased to be mere administrative matters but have now become essential elements of a broader key business strategy. At the core of this strategy lies the PMS, which had become entrenched in a system of documenting and measuring employee performance rather than as a vehicle for developing better employees. These days organizations are looking for PMS that links pay-for-performance with current best practices, focusing on improving employee performance and retention as also enhancing organizational effectiveness

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Performance appraisal is one of the most important processes in human resource management. Organizations rate their employees abilities to perform through this process and asses their worth for organizational rewards. Levinson has given three functions of performance appraisal: It Seeks to provide an adequate feedback to each individual for his or her performance. It purports to serve as a basis for improving or changing behavior toward some more effective working habits. It aims at providing data to managers with which they may judge future job assignments and compensation. He stresses the fact that the existing systems of performance appraisal do not serve any of these functions effectively but focus on outcome of behavior According to cummings, the overall objective of performance appraisal is to improve the efficiency of an enterprise by attempting to mobilize the best possible efforts from individuals employed in it. Such appraisals achieve four objectives including the salary reviews, the development and training of individuals, planning job rotation and assistance promotion9 The performance management process showed strong similarities in terms of overall design of the processes across companies and countries. we witnessed a concerted effort on the part of Group HR to introduce and maintain global performance standards. INDIAN IT-BPO PERFORMANCE The industry is estimated to aggregate revenues of USD 73.1 billion in FY2010, with the IT software and services industry accounting for USD 63.7 billion of revenues. During this period, direct employment is expected to reach nearly 2.3 million, an addition of 90,000 employees, while indirect job creation is estimated at 8.2 million. As a proportion of national GDP, the sector revenues have grown from 1.2 percent in FY1998 to an estimated 6.1 per cent in FY2010. Its share of total Indian exports (merchandise plus services) increased from less than 4 per cent in FY1998 to almost 26 per cent in FY2010.Export revenues are estimated to gross USD 50.1 billion in FY2010, growing by5.4 per cent over FY2009, and contributing 69 per cent of the total IT-BPO revenues. Software and services exports (including BPO) are expected to account for over 99 per cent of total exports, employing around 1.8 million employees. Tamil Nadu and endowed with well developed infrastructure facilities of skilled human resources has become the destination choice for IT/ITES investments in India. Tamil Nadu has been in the forefront of the IT revolution. As of now nearly 3,50,000 employees are employed in about 1750 IT/ IT Enabled Services (ITES) State, companies in the State. Software exports from the which stood at Rs.42,100 crores in 2010-2011, are efforts expected to be Rs.48,000crores in 2011-2012. All in the are being taken to attract more IT/ITES investments State FDI magazine of Financial Times rated Tamil Nadu as the Asian region of the Future 2005-06 with maximum FDI potential. Quality of Human resources is the key differentiator of Tamil Nadu

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Infrastructure development of Tamil Nadu and Chennai rated better than other states/cities by several independent studies. LITERATURE REVIEW Various researchers have noted at different points of time that many employees are not satisfied with their performance appraisal systems. Rudrabasavaraj (1977) found that only one of the 12 organizations that were investigated in that particular study, seemed to be satisfied with appraisal systems.while Indian Organizational performance appraisal practices and perceptions have been studied by various researchers, it appears that studies covering a wide range of organizations are fewer in number. Rudrabasavaraj (1969) studied the personnel administration practices 0f 32 organizations including 12 from the cooperative sector, 14 from the private sector and six from the Public Sector Enterprise (PSEs) as three sets of case studies, using two sets of questionnaires and personal interviews as well as data from other secondary sources. The Personnel practices were studied under various heads including performance appraisal and promotions. He noted that systematic performance appraisal was absent in the cooperative sector. All PSEs had some appraisal systems among the private sector organizations , 11 had formal appraisal systems and the remaining three had some sort of reports. A later study of Rudrabasavaraj (1977) reported the personnel practices, including the appraisal systems, relating to executive development of 12 private sector organizations using the case study method. Bolar (1978) reported a survey covering 82 companies, regarding the managerial performance appraisal practices in Indian industries. All the organizations studied were involved in manufacturing and sales. A follow-up study in 1976 covered 49 companies of the original sample. This follow-up study covered performance appraisal practices to managerial and supervisory staff. Rao (2004) covered a sample of 45 organizations (34 from the private sector and 11 from the public sector). The results indicate that in about 50% of the organizations, the purpose of performance appraisal is to regulate employee behavior. Thirty percent of the organization used performance appraisal is to regulate for controlling and regulating employee behavior and about 10% mainly used for development purposes. Rainaye (2006) studied performance appraisal process of State Bank Of India and J&K Bank from the prospective of the employees (Clerks and managers), Covering areas like participative planning and analysis, performance review, counseling, self-appraisal, objectivity and use of appraisal data. He concluded that the systems followed were non-participative and also systems suffered from numerous defects. Rao et al. (2001) studied the HRD practices of 12 companies in terms of the structure and systems used. Specifically, they were concerned with aspects such as structure of HRD, the type of performance appraisal system, potential appraisal, feedback and counselling, career planning and development, training and development, and organizational development. Other researchers have a also studied various aspects of the performance appraisal process in Indian organizations, but generally in nature of case studies of specific organizations (Rao and Pareek, 1996), which precludes the drawing of general conclusions. OBJECTIVES Arising from the above scenarios this paper seeks to pursue the following objectives To examine the Performance Appraisal Systems of IT Service companies with reference to its practices and processes at the different levels. To draw the necessary findings in the light of the data analysed and interpreted.

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CASE STUDY In the present paper the selected IT (Services) Companies from Chennai (Tamilnadu) namely HCL., Tata Consultancy Services (TCS), Infosys, IBM, and Wipro have been taken for study. The existing Performance Appraisal System of these selected IT (Services) companies has been critically examined. The data required for this purpose has been extracted through well-structured questionnaires DATA COLLECTION AND SAMPLING The primary data was collected with the help of a questionnaire. Also after getting the questionnaire filled, the respondents were asked to explain once again the appraisal procedure in detail. The key point is that data thus collected is unique to this research, and does not form basis of any other study .The data however is nearer to perfect and if not accurate The secondary data is collected from reference books, online books, newspaper, magazines, articles, internet and Journals. The list of the IT Service companies was taken from the NASSCOM, MINISTRY OF INFORMATION TECHNOLOGY-TAMIL NADU Website and YELLOW PAGES which served as the frame for the purpose of the study. This provided the complete list and companies were taken into consideration from the same. SAMPLING TECHNIQUE AND SAMPLE SIZE Stratified sampling method was used to design sample. From the selected IT Service companies, the respondents were categorized into Managers or Executives working in these companies and employees working under them. Random sampling was used to collect the data. The lists of persons working in these companies were taken and randomly respondents were selected to collect the data. SAMPLE PLAN The total numbers of companies selected are 5. From each company random selection of 12 employees is done. RESEARCH METHODOLOGY METHOD OF ANALYSIS AND TOOLS USED Filled up questionnaires were examined for their correctness and observed gaps were mitigated through follow up with the respondents. In the current research work, data related to research topic was fed to the SPSS and then various operations were performed. Data analysis was done by using various statistical techniques such as frequency, multiple responses, mean etc. in order to draw meaningful findings and conclusion. Here the respondents were asked to rate the various aspects of their performance appraisal system, where 1= poor 2 = average 3= good 4= ver y good 5= the best While analyzing these parameters the mean of the rating if it is above 0.5 percent then only it is taken to the next rating (for e.g. if the mean comes 1.9 here rating received is some where between 1&2 but it will be taken as 2, if the mean comes 1.4 here rating received is somewhere between 1&2 but it will be taken to 1) DATA ANALYSIS AND FINDINGS In the light of the above objectives stated the data analysis is presented in tabular format[Table No. 1 to Table No. 6]. TABLE NO. 1: CRITERIAS CONSIDERED FOR PERFORMANCE APPRAISAL IN THE SELECTED IT SERVICE COMPANIES

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Criteria Achievement of Objectives Ability of meeting defined Standards Ability to meet deadlines Output/Result of employees

HCL (%) 12 14 12 5

TCS (%) 12 14 12 5

ITES COMPANIES INFOSYS IBM (%) (%) -10 ----25 25

WIPRO (%) 10 --25

Attitude towards the work 6 6 -10 10 Core competency 15 15 30 30 30 Commitment 6 6 15 --Technical Knowledge & Skills 15 15 30 25 25 Competency level 15 15 ---Total Percentage 100 100 100 100 100 (Source: Survey) Ratings given by the respondents to the various aspects of their performance appraisal system TABLE NO. 2: HCL DESCRIPTIVE STATISTICS Item N Minimum maximum Mean Standard Deviation Process of communicating 12 3 5 3.7500 .86603 performance standards Feedback Mechanism 12 1 4 3.250 1.3568 Performance Review Process 12 3 4 3.7500 .45227 Clarity of Performance 12 1 4 2.0000 1.27920 appraisal System Transparency of Performance 12 2 4 3.0000 1.04447 appraisal System Valid N (listwise) 12 ----(Source: Survey) From the above analysis it is clear that the ratings given by the respondents to the process of communicating performance standards and performance review process is somewhere between 3to 4 hence it can be said that respondents view process of communicating performance standards and performance review process as very good. Whereas a rating given for feedback mechanism and transparency of performance appraisal system is 3 hence it is clear that respondents view these two aspects of performance appraisal system as good. Rating given to clarity of performance appraisal system is 2; which indicates that respondents view it as average.

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TABLE NO. 3: TCS DESCRIPTIVE STATISTICS Item N Minimum maximum

Mean

Process of communicating 12 4 4 4.0000 performance standards Feedback Mechanism 12 3 4 3.417 .5149 Performance Review Process 12 2 4 3.5000 .90453 Clarity of Performance 12 4 4 4.0000 .00000 appraisal System Transparency of Performance 12 2 4 3.5000 .90453 appraisal System Valid N (listwise) 12 ----(Source: Survey) From the above analysis it is clear that the ratings given by the respondents to the process of communicating performance standards and clarity of performance appraisal process is 4 hence it can be said that respondents view process of communicating performance standards and clarity of performance appraisal as very good. Whereas a rating given for performance review process and transparency of performance appraisal process is somewhere between 3 and 4 hence it can be said that respondents view these two aspects of their performance appraisal process as very good. Rating given to feedback mechanism indicates that respondents view it as good. TABLE NO. 4: INFOSYS DESCRIPTIVE STATISTICS N Minimum maximum Mean

Standard Deviation .00000

Item

Process of communicating 12 3 5 4.0833 performance standards Feedback Mechanism 12 3 4 3.417 .5149 Performance Review Process 12 2 5 3.417 1.07309 Clarity of Performance 12 3 5 4.1667 .57735 appraisal System Transparency of Performance 12 2 5 3.5000 1.16775 appraisal System Valid N (listwise) 12 ----(Source: Survey) From the above table it is evident that, the ratings given by the respondents to process of communicating standards and clarity of performance appraisal system is 4; hence it shows that respondents view these two aspects of performance appraisal system as very good. Whereas the ratings received by the feedback mechanism and performance review process fall between 3 and4 which clearly indicates that according to respondents feedback mechanism and performance review process of their complete appraisal process is good while respondents have rated transparency of PAS somewhere between 3 and 4; hence it is assumed that respondents view it as very good.

Standard Deviation .51493

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Item

TABLE NO. 5: IBM DESCRIPTIVE STATISTICS N Minimum maximum

Mean

Process of communicating 12 3 4 3.9167 performance standards Feedback Mechanism 12 3 4 3.417 .5149 Performance Review Process 12 2 4 3.5000 .90453 Clarity of Performance 12 3 4 3.9167 .28868 appraisal System Transparency of Performance 12 2 4 3.3333 .98473 appraisal System Valid N (listwise) 12 ----(Source: Survey) The ratings given to process of communicating performance standards, performance review process and clarity of performance appraisal falls somewhere between 3 and 4 hence it can be said that respondents think these three aspects of their performance appraisal process are very good. While respondents have rated feedback mechanism and transparency somewhere between 3 and 4 hence it is indicated that respondents view these two aspects of their performance appraisal process as good. TABLE NO. 6: WIPRO DESCRIPTIVE STATISTICS N Minimum maximum Mean 12 12 12 12 12 12 2 2 2 3 2 -5 4 5 4 4 -2.8333 2.667 2.9167 3.9167 3.5000 --

Standard Deviation .28868

Item

Process of communicating performance standards Feedback Mechanism Performance Review Process Clarity of Performance appraisal System Transparency of Performance appraisal System Valid N (listwise) (Source: Survey)

Standard Deviation .93744 .6513 1.16450 .28868 .90453 --

From the above table it can be said that the respondents have rated process of communicating performance standards, feedback mechanism and performance review process somewhere between 2 and 3 hence it is considered that respondents view these three aspects of their appraisal system as good. The rating given for clarity of performance appraisal process falls somewhere between 2 and 3 hence it is clear that respondents view it as average while transparency of performance appraisal system is rated somewhere between 1 and 2 which means respondents view it as average. From the above data analysis it is being found that; 1.Output/Result, Core Competency are given due weightage while appraising the performance of the employees.

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2.The respondents of the majority companies have communicating standards, feedback mechanism as very good.

rated

the

process

of

3.From the Selected five selected IT Service Companies; the respondents of all the companies have expressed their positive response towards the various aspects of their existing performance appraisal system such as performance review process, clarity of performance appraisal system and transparency. CONCLUSION In this present paper, with the help of questionnaire analysis, the existing performance appraisal systems of the selected IT Service companies have been evaluated on the basis of criterias considered for appraisal, process of communicating standards, feedback mechanism, and performance review process, Clarity of performance appraisal process and transparency of performance appraisal process. It appears that the respondents of the majority of selected IT Service companies are in agreement with their existing performance appraisal system. REFERENCES Bolar M (1978), survey of performance Appraisal Practices, in M Bolar (Ed.), performance Appraisal, Readings, case studies and survey of practices, Vikas publishing House, New Delhi Cumming, M.W., Theory and practice of personnel management, William heineman ltd., London,1972, pp.111-112 Levinsion, H., Appraisal of what performance, Harvard Business Review, julyAugust,1976, p.30 Rainaye R (2006), performance planning, Analysis, and Development in commercial Banks: A Micro level comparative study, Manpower Journal, Vol. 12, No.3, pp. 1-13 Rao T V (2004), Performance Management and Appraisal systems: HR Tools for global Competitiveness, Response Books, New Delhi. Rao T V and Pareek U (1996), Redesigning Performance Appraisal Systems, Tata McGraw-Hill, New Delhi. Rudrabasavaraj M N (1977), Executive Development In India, Himalayas Publishers, Bombay Rudrabasavaraj M N (1971), Executive Performance Appraisal: A Second Look, Indian Management, Vol. 10, No. 6, pp. 7-10 Rudrabasavaraj M N (1969), Personnel Administration Practices in India, Vaikunth Metha National Institute of cooperative Management, Poona. www.nasscom.org www.tn.gov.in/policynotes/information_technology

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SELF HELP GROUPS VS MULTI NATIONAL CORPORATIONS' IN INDIAN RURAL MARKET WITH SPECIAL REFERENCE TO FAST MOVING CONSUMER GOODS SECTOR: IS IT A UTOPIAN IDEA?
D.TAMILARASU, Asst. Professor cum Asst. Director, Center for the Study of Social Exclusion and Inclusive Policy, MS University, Tirunelveli. Introduction: 'Biggest Consumer Market size' is one of the attractive features for the investment of Multinational Corporations in India. India was considered as hunting ground for raw materials during British colonial rule. Now, India's vast consumer market base becomes targets to capture it in business. Indian Rural market presents with untapped potential business opportunity. Since fast moving consumer goods are more or less inevitable for any consumers in their day today life, prospects of the sector have more relevance with the larger size of the Indian Consumer Market. Indias new economic policy brings forth opportunities as well as crisis. Vast section of its population not only remains excluded from the fruits of development but also pauperised. SHGs came as dawn in the lives of the vulnerable section of the Society. The study considers Hindustan Unilever Limiteds rural business of FMCG product, as a reference model of MNCs business to SHGs. The paper is a preliminary attempt to bring out the dream idea whether these SHGs can be developed as 'Corporate' like business firm or able to compete with them. MNCs in present economy: Economic pattern of today's world order has undergone massive changes due to globalization process. 'Flexibility' and 'openness' of the market is never than ever before. It is highly difficult for the 'nation state' to have its own economic policy. It operates predominantly based on the principle of International economic policy favored by global institutions like WTO, IMF etc. Corporate entities are truly become global by its presence in various countries. Thus, it is referred as "Multinational Corporations' or 'Transnational Corporations'. Economies of some of the MNCs are even higher than the GDP of the some third world nations. MNCs have its presence in various countries and involved in multiple economic activities. Its economic activities bring huge capital, foreign exchange and employment opportunities to the host countries. It also caters the needs of the consumers. Thus, the nation state by favoring and nurturing the interest of various MNCs, the state firmly believes in enhancing its economic condition. Nation state' hunts for the investment whereas 'Corporate' hunts for the market is the mantra of international economic order. Self Help Groups: Popularly referred as SHGs which comprises of 10-20 members in the Group. Women SHGs are mostly prevalent. Micro-finance in the form of credit is the lifeline for most of the SHGs. Concept of SHG is originated in Bangladeshi. India emulated the model. With availability of micro-finance, it is realised that the SHGs model helps in poverty alleviation and women empowerment and thus, it act as safety net for the poor women in the framework of new economic policy. Government institutes, Banks, NGOs and SHGs by themselves start and facilitate the group. NGOs became the active facilitator. In 1991, NABARD's promotion of SHGs in large scale can be considered as real starting point for the "SHG movement'. SHGs in Tamilnadu: SHGs said to be started in 1989 in Tamilnadu. Considering its impact and social benefits, it is referred as 'Social Movement'. SHGs are involved in various economic activitiesii.Government assist them with 'revolving fund', 'loan' 'subsidy', 'starting exhibition for marketing and sale of SHG product', 'Conglomerating them under a institution called 'Tamilnadu corporation for development of Women ltd', 'incorporating them under

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women empowerment programme like mahlir thittam', 'arranging training and Workshops for SHG members', 'facilitating various government schemes through SHGs', ' recognising the SHG members by placing them in various local committees etc. Tamilnadu SHGs have 99% repayment of loans. As on 31/3/2011, Women welfare development institute started around 3,32,092 SHG in Rural areas. Total numbers of members in such SHGs are 51, 77,028iii. SHGs have so far availed a credit of Rs 15,633.83 crore from various banks and have a total savings of more than Rs 3,374.60 crore, according to the states department of rural development. These kind of support extended to SHGs from government is contradictory as nation's new economic policy encourages the economic activities of big corporations. In such scenario, it is highly impossible for SHGs to compete with giant Corporate in Neo-liberal economic policy framework. Context of proposed business plan for SHGs India as big Consumer market becomes favorite destination of MNCs: MNCs and developed economies are not able to survive and expand their business with saturated market of western countries. India with huge population serves as bigger market for them. India has 17% of the world population and half of these people are below the age of 25. India's share in world consumer spending is set to enlarge from 1.9% in 2005 to 3.1% in 2020.In terms of purchasing power parity; Indian economy ranks the fourth largest in the world. Indian market is driven primarily by domestic consumption. Thus, India becomes major buy economy. One of the major categories of Indian Market is Urban and Rural region. Economic growth is concentrated more on urban region as most of investment flow towards it. Indian Rural Market and MNCs FMCG business: But, significant fact is that almost 70 % of the Indian population lives in Rural Region. Inspite of the lower penetration and lower per capita purchase of consumer goods by rural people when compared to that of urban Indians, marketers are attracted towards rural markets because of large population. And close to half of India's buying potential lies in its villages. This and other reason makes it as an untapped potential market. It can be explored but the strategy of approach lies in understanding that rural market is different from its urban counterpart: They are different in terms of purchasing power, taste, brand consciousness, consumption pattern, life style, habit of using traditional products, infrastructure, access to media and information technology etc. FMCG is the fourth largest sector in the Indian economy with total market size in excess of Rs. 60,000 crore. FMCG essentially comprises Consumer Non Durable (CND) products and caters to the everyday need of the population. Price of such products per unit is low. Being in a large consumer market, it has more potential to accumulate wealth. Major segments of the FMCG industry are household Careiv, personal care vfood and Beveragesvi. Rural consumers gradually accept the inevitability of consuming FMCG product. It is also due to the influence of the trend of urbanisation. So, it has also its similarities with urban market. By understanding these factors, some of MNCs are able to intrude the rural market. Popular management discourses like 'Bottom of the pyramid brought out the idea of tapping the rural market and suggested win-win strategy for firms as well as rural consumers. Urban India accounts for 66% of total FMCG consumption, with rural India accounting for the remaining 34%. 50% of revenues for FMCG sector now come from rural salesvii. Companies started to adopt innovative strategies in capturing the rural market. Statistical picture clearly shows that Hindustan Unilever limited is India's largest and highly progressive company in FMCG sector. HUL, as SHGs reference model of MNCs business in Indian Rural

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Market: HUL's presence of rural market is taken as an appropriate case of reference to SHGs due to following reasons, 1) It stands first in sales among all MNCs. HUL is India's leading consumer goods supplier, with a focus on FMCG category. Most of its products are household names in Indian market. As per Nielsen market research data, two out of three Indians use HUL products 2) It has larger presence in Rural Market. As per the analysis of ASSOCHAM, companies like Hindustan Unilever Ltd and Dabur India originates half of their sales from rural India. 3) It is known for its Rural Marketing strategies. It is able to develop strong distribution network in rural market. Project shakthi and other initiatives formulated on the idea of winwin strategy, helps it to do so. By including and making use of rural women (includes SHG women) as Shakthi entrepreneurs in its distribution and marketing chain, they are able to intrude even in remote rural region. Similarly, it goes well for rural men as Shakthimaan. This is also popularly referred as Corporate Social Responsibility and business for the bottom of the pyramid. Howsoever its strategy may be referred; there is undeniable fact that HUL through its FMCG has greater intrusion in Indian Rural Market. Reason for experimenting SHGs in FMCG sector: Since FMCG products are small, common products used in our day today life. Most of the SHGs are already involved in manufacturing such products. So, intruding in FMCG sector is logical and relatively possible in comparison to other sectors of the economy. Since 'locals' are involved in SHGs, they can easily understand the daily needs of the local consumer. These and other reasons give the courage to experiment SHGs in FMCG sector. Necessity of having primacy of SHGs in business Members of the SHGs are poor and mostly from marginalised section like rural women. Development is sustainable, inclusive and holistic only if they are able to participate in the economic activities and improve their conditions. They are already excluded from the process of development. Instead of alleviating their situations, 'economic growth' unleashed by neo-liberal economic policy further widened the disparity and exclusion. Concept of SHGs (functions with the help of micro-credits) came as ray of hope as well as an alternative strategy and safety valve for the development of these vulnerable mass in the neo-liberal era. Its intention of making them as entrepreneurs serves as a lofty ideal for the development of any nation. Most of the studies prove that SHGs not only gives the opportunities for the economic development but also leads to overall 'Social Development'. Here, 'Social development' encompasses human development indicators like health, awareness, political participation etc. This form of development is absent in MNCs lead business. State support and encourage (atleast in the space available to them) SHGs for this reason. Realising the strength of SHGs, political parties are also desperate in getting the support of these groups. So, considering its social benefits, SHGs need to be placed way ahead in the business than MNCs. Therefore, SHGs are the tool to achieve the objective of howsoever the way it is referred as follows 'business for the people', 'People's economy', 'Sustainable Development' 'Inclusive development' etc. SHGs Vs MNCs: Challenges and Opportunities for SHGs Success of Co-operative movements like AMUL serve as an inspiration for the idea of

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creating SHGs as single business entity like that of MNCs. There are lessons to be learnt from the failure of Co-operative Organisation. However, given the diversity and scatteredness, organising SHGs as single unit of business is much more complicated than such Co-operative Organisation. Very recently (i.e., June 2012), Tamilnadu government hinted out the possibility of giving unique brand identity with logo and monogram for SHGs productviii.It also plans to develop the concept of one village-one product, as well as new clusters. This shows that the idea is in infant stage as of now. Following ideas are emerged out of an attempt to identify the major challenges and opportunities for SHGs if it has to compete with MNCs or to be a successful business firm. Conglomeration of 'SHGs' as a single large entity is biggest challenge: SHGs are scattered, diverse, no network or co-ordination throughout the state. Network and coordination through institution like 'Tamilnadu Corporation for development of Women Ltd' cannot be equated with the conglomeration of corporate organisation like HUL. Here, the term 'conglomeration' is used in the sense of unifying or coordinating thousands of SHGs along with its diverse economic activities into single large entity like Corporate business organisation. Conglomeration of SHGs into single organisation has to take place in following way, 1) As Organisation: SHGs has to be conglomerated as a single large Organisation (entity) with its structure, functions and identity. Savings of various SHGs has to be used as 'Capital' for the Organisation. Their savings and profit has to be shared proportionately in accordance with their contribution. So, all of the SHGs members are owners of the Organisation. SHGs as an Organisation need to elect their representatives and also recruit the experts and personnel with the help and advice of Government. Certain mechanism needs to be placed to incorporate new SHGs from different areas. 2) In Products: Merely labeling or branding SHGs products by single name cannot be considered as conglomeration of its products. 'Standardisation of operation' and authenticity in manufacturing the products by SHGs throughout the state is the essential requirement of doing so. But, these do not prevent the manufacturing of diverse product by SHGs. This diverse product has to be categorised based on the similarities or commonalities of the product. Operations of manufacturing these categorised products need to be standardised. For example, Soap manufactured by SHGs members across the different regions of the state need to have uniformity; in standard of operation, quality, quantity, pricing, etc. But, they can have different varieties of Soaps such as neem soap, sandal soap. In some cases, SHGs can make use of the unique geographical identity and indigenous knowledge for its products. For example, Tirunelveli Alwa, Kumbakonam murukku, Madurai Jasmine, Tiruppur textile products, Erode turmeric etc. Since SHG members in those geographical areas are well versed in manufacturing such products, they can have unique selling point. In this way, they need not sacrifice the unique and indigenous knowledge. In this context, they have clear advantage over the MNCs. So, Conglomerating SHGs by its products is one another challenging task in 'Conglomeration of SHGs as single corporate entity. Establishing permanent retail stores run by SHGs for SHGs product in rural area: Based on demand, SHGs has to identify the suitable place to run retails shops in selling their products. Option of having such shops can give stiff competition to MNCs. Accessibility: Reaching the rural consumers is challenging task even to MNCs. Lack of

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infrastructure, transport and communication, illiteracy etc though not absolute but still it stands as a barrier to reach them. Case of HUL shows how innovative marketing and distributional network like in project shakthi to make their product accessible even to remote rural consumer. It is very important to note that HUL uses local SHG members to develop such viable network. If this is how they can be used for marketing and distributing the product of MNC, then there is no need to explain the viability of those members in selling their own product for their business. Since SHG members are proximate to rural consumers not only in physical distance but also in understanding their needs, preferences etc, they have the opportunity to develop easy and viable marketing and distribution network than MNCs. Affordability: This is the core issue that needs to be addressed even by MNCs. Though rural consumers are not brand conscious, they are very much conscious about price of the product. That's why, MNCs target them with low price or affordable price mini packs like sachets, and combo packs for some other products. Low price suits their purchasing power. Softdrinks for Rs.5, Shampoos for Rs.2 & 1, washing powder for Rs. 1 & 2, Mini Soap, biscuit packs for Rs. 3& 5 etc are the popular products in Indian Rural Market. HUL is known for making their product affordable to rural consumer by such mini packs. It is easier for SHGs to understand the general trend but needed much effort to bring out such products in markets. Need of technical experts, business managers and skilled labour for SHGs: In order to fulfill the above conditions of business firm, business mangers, technical experts, skilled labour are the inevitable inputs for SHG firm. But, it is an uphill task by taking into account of the present situation of SHGs. Here arise the necessity of role of the government funded world class business institutes in India like IIMS and technical institutes like IITs. Most of its expertise, resources, and outputs are used for affluent business firms like MNCs so far. It is justifiable to direct and divert their attention towards the 'subaltern' businessix. Governmental backing and co-ordination is necessary in establishing such collaboration. Thus, SHGs has to evolve itself as like that of 'Corporate' business firm. Identifying and developing their unique strength in business need to coexist with understanding and emulation of the general pattern of MNCs business are basic condition for SHGs to develop as business firms or as a firm on par to the MNCs. Conclusion This is how an idea appears to be a utopian can be tried out to bring the revolutionary changes in lives of vulnerable section of the Society. Considering the fact that the idea is at an infant stage, it is premature to conclude that construction of the idea in the paper is complete and more scientific. Hence, it is necessary to have further rigorous research in evolving and making the dream idea into reality. However, the paper is successful in giving birth to novel idea of making SHGs into a single business firm that is capable of competing with MNCs. Endnotes
i

Economist named Mohamed Yunis through the establishment of "Grameen Bank' proved the success of the concept of SHGs. It is able to bring revolutionary changes in the life of numerous poor women in Bangladesh ii like manufacturing Wax candle, Pickles, Soap, Wheat flour, Herbal Drinks, handicrafts,

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artifacts, lamp, embroidery work, running ration shop, Canteen, shops; honey making, mushroom cultivation, etc. iii Training manual for village Panchayat presidents (Rural Administration)', Tamilnadu Government, 2012. iv All products which fulfill the household requirements are referred as household care. Rapid urbanisation along with consumer lifestyle leads to boom of this sector. v It includes personal wash products, hair care products, oral care products, cosmetics etc. The Indian Skin care and cosmetics market is valued at $274 million and is dominated by HUL, Colgate, Palmolive, Gillette India and Godrej. vi This segment comprises of the food processing industry, health beverage industry, bread and biscuits, chocolate and confectionary, Mineral water and ice creams. Three largest consumed categories of packaged foods are packed tea, biscuits and soft drinks. Major players in food segments are HUL, ITC, Godrej, Nestle and Amul. vii ASSOCHAM, (The Rise of Rural India" published in April 2009). viii Business standard, June 26, 2012. ix Concept to describe history told from below, derived from the cultural hegemony work of Antonio Gramsci. It is often associated with the excluded and suppressed mass of the Society. Paper attempts to combine this idea with the notion of indicating the people who are excluded from the powerful business activities. References State institute of Rural Development, Rural Development and Panchayat Raj Department, Tamilnadu Government; 2012, Training manual for village Panchayat presidents (Rural Administration)'. Conducted by 'Drusti'-Stree Adhyayan Praodhan Kendra, An Evaluation of impact of SHG on the Social Empowerment of Women in Maharashtra, National Commission for Women, New Delhi. Tamilarasu.D, June 2012, Corporate participation in Women and Rural Development, The International journal for Economics and Business management, East Publications, Tirunelveli, Vol.1, issue 2, P.104 Website Sources http://www.business-standard.com/india/news/tn-to-give-boost-to-products-made-bywomens-shgs/478431/ http://www.ncaer.org/annualreport.html www.hul.co.in http://www.nabard.org/dept_mcid/shgs.asp

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ROLE OF AN ENTREPRENEUR IN ECONOMIC DEVELOPMENT

V.ARUNKUMAR, Asst.prof, Department of Management Studies, AJAY BABU. M, II-MBA Sudharsan Engineering College, Sathiyamangalam, Pudukkottai622 501 The entrepreneur who is a business leader looks for ideas and puts them into effect in fostering economic growth and development. Entrepreneurship is one of the most important input in the economic development of a country. The entrepreneur acts as a trigger head to give spark to economic activities by his entrepreneurial decisions. He plays a pivotal role not only in the development of industrial sector of a country but also in the development of farm and service sector. The major roles played by an entrepreneur in the economic development of an economy is discussed in a systematic and orderly manner as follows. Keywords: key words Entrepreneurship, Economic Development Entrepreneur An entrepreneur can be regarded as a person who has the initiative skill and motivation to set up a business or enterprise of his own and who always look for high achievements. He is the catalyst for social change and works for the common good. They looks for opportunities, identifies them and seizes them mainly for economic gains. An action oriented entrepreneur is a highly calculative individual who is always willing to undertake risks in order to achieve their goals. Need for entrepreneurship development Economic development essentially means a process of upward change whereby the real per capita income of a country increases over a period of time. Entrepreneurship has an important role to play in the development of a country. It is one of the most important inputs in economic development. The number and competence of entrepreneurs affect the economic growth of the country. The economic history of the presently advanced countries like USA, Russia and japan supports the fact that economic development is the outcome for which entrepreneurship is an inevitable cause. The crucial and significant role played by the entrepreneurs in the economic development of advanced countries has made the people of developing and under developed countries conscious of the importance of entrepreneurship for economic development. It is now a widely accepted fact that active and enthusiastic entrepreneurs can only explore the potentials of the countries availability of resources such as labour, capital and technology. The role of entrepreneurs is not identical in the various economies. Depending on the material resources, industry climate and responsiveness of the political system, it varies from economy to economy. The contribution of entrepreneurs may be more in favorable opportunity conditions than in economies with relatively less favorable opportunity conditions.

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Promotes Capital Formation: Entrepreneurs promote capital formation by mobilizing the idle savings of public. They employ their own as well as borrowed resources for setting up their enterprises. Such type of entrepreneurial activities lead to value addition and creation of wealth, which is very essential for the industrial and economic development of the country. Creates Large-Scale Employment Opportunities: Entrepreneurs provide immediate large-scale employment to the unemployed which is a chronic problem of underdeveloped nations. With the setting up of more and more units by entrepreneurs, both on small and large-scale numerous job opportunities are created for others. As time passes, these enterprises grow, providing direct and indirect employment opportunities to many more. In this way, entrepreneurs play an effective role in reducing the problem of unemployment in the country which in turn clears the path towards economic development of the nation. Promotes Balanced Regional Development: Entrepreneurs help to remove regional disparities through setting up of industries in less developed and backward areas. The growth of industries and business in these areas lead to a large number of public benefits like road transport, health, education, entertainment, etc. Setting up of more industries lead to more development of backward regions and thereby promotes balanced regional development. Reduces Concentration of Economic Power: Economic power is the natural outcome of industrial and business activity. Industrial development normally lead to concentration of economic power in the hands of a few individuals which results in the growth of monopolies. In order to redress this problem a large number of entrepreneurs need to be developed, which will help reduce the concentration of economic power amongst the population. Wealth Creation and Distribution: It stimulates equitable redistribution of wealth and income in the interest of the country to more people and geographic areas, thus giving benefit to larger sections of the society. Entrepreneurial activities also generate more activities and give a multiplier effect in the economy. Increasing Gross National Product and Per Capita Income: Entrepreneurs are always on the lookout for opportunities. They explore and exploit opportunities,, encourage effective resource mobilization of capital and skill, bring in new products and services and develops markets for growth of the economy. In this way, they help increasing gross national product as well as per capita income of the people in a country. Increase in gross national product and per capita income of the people in a country, is a sign of economic growth. Improvement in the Standard of Living: Increase in the standard of living of the people is a characteristic feature of economic development of the country. Entrepreneurs play a key role in increasing the standard of living of the people by adopting latest innovations in the production of wide variety of goods and services in large scale that too at a lower cost. This enables the people to avail better quality goods at lower prices which results in the improvement of their standard of living.

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Promotes Country's Export Trade: Entrepreneurs help in promoting a country's export-trade, which is an important ingredient of economic development. They produce goods and services in large scale for the purpose earning huge amount of foreign exchange from export in order to combat the import dues requirement. Hence import substitution and export promotion ensure economic independence and development. Induces Backward and Forward Linkages: Entrepreneurs like to work in an environment of change and try to maximize profits by innovation. When an enterprise is established in accordance with the changing technology, it induces backward and forward linkages which stimulate the process of economic development in the country. Facilitates Overall Development: Entrepreneurs act as catalytic agent for change which results in chain reaction. Once an enterprise is established, the process of industrialisation is set in motion. This unit will generate demand for various types of units required by it and there will be so many other units which require the output of this unit. This leads to overall development of an area due to increase in demand and setting up of more and more units. In this way, the entrepreneurs multiply their entrepreneurial activities, thus creating an environment of enthusiasm and conveying an impetus for overall development of the area. Employment Generation: Growing unemployment particularly educated unemployment is the problem of the nation. The available employment opportunities can cater only 5 to 10 % of the unemployed. Entrepreneurs generate employment both directly and indirectly. Directly, self employment as an entrepreneur and indirectly by starting many industrial units they offer jobs to millions. Thus entrepreneurship is the best way to fight the evil of unemployment. National Income: National Income consits of the goods and services produced in the country and imported. The goods and services produced are for consumption within the country as well as to meet the demand of exports. The domestic demand increases with increase in population and increase in standard of living. The export demand also increases to meet the needs of growing imports due to various reasons. An increasing number of entrepreneurers are required to meet this increasing demand for goods and services. Thus entrepreneurship increases the national income Balanced Regional Development : The growth of Industry and business leads to a lot of Public benefits like transport facilities, health, education, entertainment etc. When the industries are concentrated in selected cities, development gets limited to these cities. A rapid development . When the new entrepreneurers grow at a faster rate, in view of increasing competition in and around cities, they are forced to set up their enterprises in the smaller towns away from big cities. This helps in the development of backward regions. Dispersal of economic power : Industrial development normally may lesd to concentration of economic powers in a few hands. This concentration of power in a few hands has its own evils in the form of

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monopolies. Developing a large number of entrepreneurers helps in dispersing the economic power amongst the population. Thus it helps in weakening the harmful effects of monopoly. Better standards of living: Entrepreneurers play a vital role in achieving a higher rate of economic growth. Entrepreneurers are able to produce goods at lower cost and supply quality goods at lower price to the community according to their requirements. When the price of the commodies decreases the consumers get the power to buy more goods for their satisfaction. In this way they can increase the standard of living of the people. Conclusion An entrepreneur is a person who always looks for changes. Apart from combining the factors of production, he also introduces new ideas and new combination of factors. He always tries to introduce newer and newer technique of production of goods and services. An entrepreneur brings economic development through innovation. Entrepreneurship also helps in increasing productivity and capital formation of a nation. In short, the development of the entrepreneurship is inevitable in the economic development of the country. The Role played by the entrepreneurship development can be expressed in the following words: " Economic development is the effect for which entrepreneurship is a cause

THE ROLE OF ENTREPRENEURSHIP IN EDUCATION

V.ARUNKUMAR, Asst.prof, Department of Management Studies, ATHISIVAM. M, II-MBA Sudharsan Engineering College, Sathiyamangalam, Pudukkottai-622 501 Abstract Adaptive process and entrepreneurship as an individual Education and entrepreneurship are commonly considered major factors of economic development. If that is the case, one would expect that the national and institutional adaptability and ,international development organizations give a special attention to initiatives promoting education on entrepreneurship (teaching entrepreneurial skills, attitudes and ideas) and entrepreneurship in education (promoting the entrepreneurial initiative in providing, maintaining and developing education services). The study finds that organization's agenda has not started yet to incorporate the basic insights regarding the link between the two factors and concludes that this situation creates opportunities for a rich analytical and policy agenda in the area of education and entrepreneurship. Keywords: Entrepreneurship policy, entrepreneurship education. World Bank. national and international development,

Introduction Development theory has traditionally emphasized the role of education as a key factor of economic growth while many economists and sociologists have argued for the crucial role of entrepreneurship both in economic theory and economic development. Therefore it is no surprise that the notion that two necessary conditions for economic growth in developing countries are education and entrepreneurship seems a common place nowadays. Indeed even

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a superficial survey of the policy papers and country case studies issued by the major national and international development organizations, confirms that, both education and entrepreneurship are recognized and advanced as major parallel operating factors or conditions of economic performance. Those documents reflect in an accurate way the long standing theories and experience that established the relationship between education and development and entrepreneurship and economic growth. However, recent advances in social sciences associated to the new institutional economics have the potential of not only just reinforcing old conclusions but also of bringing fresh ideas and new approaches. Some of the most interesting policy implications of the new institutional economics are derived from the special attention given by the institution approach to two basic concepts: 'learning' and 'entrepreneurship'. Learning as an individual and social One of the most adaptive process and entrepreneurship as an individual attribute and social function emerge in the right of new institutional economics as two crucial elements and that could explain institutional adaptability and performance. Challenging implications of new institutional economics is that the relationship between entrepreneurship and education matters. In other words, the nature of the inter-relations between the two is crucial for the way they independently or in conjunction impact on economic development and institutional performance in general. More precisely, new institutional economics illuminates two possible directions Education on Entrepreneurship: teaching entrepreneurial values, skills, attitudes and ideas Entrepreneurship in Education: promoting the entrepreneurial initiative in providing, maintaining and developing education services.

The first is the natural extension of the focus put by new institutional economics on cognition, belief systems, ideas and learning as a process of social adaptation. The second is a specific application of the new institutional economics insights on the institutional adaptability and flexibility of social systems: as any other social system the education system gains in capability if the entrepreneurial element is set free to operate within its institutional structure. The organizations which were considered relevant, in terms both of influence at global level and outcomes of their programs, were the United Nations Development Program (UNDP) and the World Bank (W.B.). More precisely, the inquiry concentrated on pieces issued by these agencies that support, reflect or announce current or future policy initiatives. The objective was to discover what is their view on the relation between these two key elements of development and how are they fitted in the larger equation of achieving social change and institutional performance. As a matter of approach, the inquiry used as a primary vehicle the method of content analysis. The starting point of the investigation was to identify the instances when the two terms 'education' and 'entrepreneurship' were mentioned. The criterion for selection of specific documents for further analysis was the presence of the words 'education' and 'entrepreneurship' and related notions in the body of the document. The next step was to identify how they are linked in the respective documents and to reconstruct out of that the operational codes' on entrepreneurship and education of the national and international development organizations in point. Entrepreneurship and Education

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The overview of the UNDP and WB position and analytic documents offers a very interesting yet in many ways frustrating perspective. It seems that the link between education and entrepreneurship is lurking in various ways in their vision and operational codes that they have come close 'to explicitly identify and point it in many instances and yet the explicit treatment of the issue in any of its aspects '(Education on Entrepreneurship and Entrepreneurship in Education) is still missing. Again and again they come close of pinpointing the matter just to stop short just before stating 'it explicitly. Even though in the UNDP Human Development Report 2003 there is almost no reference to entrepreneurship, it must be noted that a Commission on the Private Sector and [Development exists within, the United Nations. Also it is interesting to mention that the Commission has recently 'become more visible within the UN structure with its 2004 path breaking recommendation that the power of entrepreneurship to be 'unleashed'. In a report published in 2004 (Unleashing Entrepreneurship; Making Business work for the poor), the Commission states that "small and medium enterprises can be engines of job creation seedbeds for innovation and entrepreneurship". More important is the fact that the Commission suggests a number of policies meant to improve the business environment and allow entrepreneurial spirit to materialize. The Commission believes that any approach to private sector development - and the policy and action recommendations that accompany it - should be grounded in the realization that the savings, investment and innovation that lead to development are undertaken largely by private individuals, corporations and communities For those not familiar with the history of economic development policy and particularly with UNDP's history it should be noted that this assumption is a departure from the state-oriented, previous approaches advocated by the UNDP. 'Based on that fundamental shift of assumptions, the conclusion of the Report is that a number of actions must be undertaken by governments in collaboration with actors in the private sector, in order to achieve goals, such as: reform of regulations and strengthen the rule of law, formalization of the economy, engaging the private sector in the policy process, assist skill and knowledge development, channel private initiative into development efforts etc. It is very interesting to note here that some of the actions suggested by 'the Commission fit very well in the model suggested by those scholars and practitioners that stressed the importance of the interplay between entrepreneurship and the institutional environment. That is: assuming that entrepreneurship is a given resource within any society, its role in the economy and society is influenced by the 'rules of the game'. The recognition of education as an enabling factor for entrepreneurship is explicitly stated in World Bank documents: "Growth must be based on sound social and economic policies. To create the conditions for entrepreneurship, productivity and jobs, the developing countries must invest in health and education, including early childhood education." The need for a coherent framework of policies in a number of sectors in order to muster and channel the entrepreneurial resource in a productive process seems quite clear. Education emerges as one of the required elements or background conditions in order for entrepreneurial resources to be created and fully used in the development process. However this insight does not seem to be fully explored and developed in theory and policy practice. From the perspective of the WB, as in many other cases, education is seen in general, as a background condition, not as a focused and targeted 'education for entrepreneurship' policy

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initiative. The idea that education about entrepreneurship may be an effective way to ensure that the entrepreneurial resource will be used in a productive way does not seem to have gained significant ground It is of note that in a very large number of the documents analyzed, education is discussed in connection to the broader concept of the 'knowledge economy'. National and international development organizations seem to identify the creation of a vaguely defined 'knowledge economy' as a necessary condition for economic growth and development today. That means that knowledge and education tend to become key elements for economic policies. The World Development Report 1998-1999, issued by the World Bank and the Human Development Report 2003, issued by the UNDP are good examples in this respect. They announce an attention shift from 'buildings' towards 'knowledge' The UNDP touches on similar grounds as it tries togo beyond governance questions in the realm of a comprehensive approach. A UNDP document stresses that "breaking ' out of poverty traps requires a multi-faceted approach one that goes beyond the usual sound commandments of good economic and political governance. For countries "trapped in poverty, six policy clusters are crucial". One of those six policy clusters is "investing in human development" and education is mentioned as critical in this respect (UNDP, 2003). If knowledge is an essential component for development, education, seen as knowledge production and dissemination function, should be one of the central concerns of public policies indeed. In other words, the concept of 'knowledge economy' in any of its forms is not at all inconsequential and once embraced its implications for the link to entrepreneurship are inescapable. For instance the concept of knowledge economy is strongly related to theories of human capital development and those theories have become a central element of growth policies and theories. And that is yet another route that may make entrepreneurship salient in the new knowledge-centered approach embraced by the national and international development community. If it is accepted that knowledge is a resource and that education is a means to generate or make use of this resource one will immediately be able to argue in favour of the role of entrepreneurial role in the field of education. Human capital needs entrepreneurial efforts in order to be produced, distributed and managed. From that, one could easily infer the' necessity of linking those two elements at the policy level A UNDP document states that: "Developing countries face three main challenges in expanding primary education: limited resources, relative to rich countries, developing countries spend much less per student and as a proportion of GNP at all levels of education; inequity, when spending is low, rich people often capture a much larger share of it - so poor people do not benefit as much; inefficiency, inefficient spending means that a high share of recurrent spending goes for teacher salaries, leaving little for learning materials. In addition, low-quality teaching means that students do not learn as much as they could."(UNDP, 2003) It is obvious that by their very economic and social function, entrepreneurs can solve the issue of inefficiency as well as that of limited resources. The issue of inequality may seem somewhat more difficult to solve. However, it may be possible that entrepreneurial activity may affect inequality as well, since for instance it may be more profitable for the entrepreneur to educate more individuals than less. The bottom line is that the very concept of knowledge economy and various concepts like 'human capital' imply sooner or later the concept of entrepreneurship in education. If one

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uses one of these concepts, as the national and international development community seems to have started to do, the other should not be very far away. Thus, the role of education for entrepreneurship and the influence of entrepreneurs in various other areas of education and their importance for economic development become salient. Finally even without introducing concepts like 'knowledge economy' and 'human capital', standard problems like offering primary education in developing countries when confronted with problems such as lack of resources or inefficiency, require by their very nature entrepreneurial initiatives in order to find their solutions. Finally new models of education are required in the new technological and economic circumstances and that is a supplementary trigger for the salience of the education entrepreneurship link. A World Bank document is stating that "preparing workers to compete in the knowledge economy requires a new model of education and training" (World Bank Report, 2003c). In other words, it is not a matter of rethinking one aspect or another but to rethink the entire system. This new model of education and training generically termed 'lifelong learning', includes three distinct types of education: "Formal education and training includes structured programs that are recognized by the formal education system and lead to approved certificates; non-formal education and training includes structured programs that are not formally recognized by the national system informal education and training includes unstructured learning which can take place almost anywhere, including the home, community or workplace." (World Bank Report, 2003c, 2003d) Rethinking and reorganizing the system of delivering that kind of education services is a huge task. For instance the last type of education mentioned above is needed to transmit tacit or informal knowledge, the knowledge that is 'not codified or written down. Despite its informal nature that type of knowledge is central to the development process: "Take technology transfer as an example. The technical manuals, blueprints and instruction books are the codified technical knowledge that could be seen as only the tip of the iceberg. The codified technical information assumes a whole background of contextual knowledge and practices that might be very incomplete in a developing country. Implementing a new technology in a rather different environment is itself a creative act, not just copied behaviour Thus the pressure to recognize explicitly the role of entrepreneurship in education and of education for entrepreneurship seems to be coming by logical or practical implications from different directions. Although many of the documents studied avoid fully confronting the problem, they do explicitly identify the problems and challenges that require innovation and reality grounded creativity i.e. entrepreneurship, in order to find their solutions. One should make no mistake: if the WB and UNDP documents are right, the magnitude of the challenge is daunting. The challenge is structural and not conjectural systemic and not accidental. And indeed some of the reluctance to fully spell the entrepreneurship - education link might be the result of the intuition that once articulated that issue could radically transform the entire development paradigm. CONCLUSION Despite the fact that entrepreneurship and the relation between entrepreneurship and education are clearly built into most of their key policy concerns, the policy agenda has not started yet to reflect that basic reality. One of the major sources of this situation is because entrepreneurship is too narrowly defined in the national and international development

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organizations, a fact that is revealing a deficient vision and understanding of the issues involved. As a consequence many aspects of the entrepreneurial process are missed and the inter-relation between entrepreneurship and the institutional, cultural and social environment and context is only partially captured. One of the victims is the relationship between education and entrepreneurship. However by merely broadening the vision and conception of entrepreneurship and its environment in a comprehensive and coherent way, great progress can be done and seemingly marginal phenomena like the interaction between education and entrepreneurship could come to be seen in a new light and their crucial importance to be recognized. The situation identified by the present study creates opportunities for building a very rich' analytical and policy agenda in the area of education and entrepreneurship. The real question is not if but when the research community will join forces with the national and international development community in a shared effort that could contribute to a structural transformation of the ways national and international aid and development are conceptualized and practiced. References Arndt H.W., Economic Development: The History of an Idea, Chicago University Press, Chicago (1987) Arthur B.W., 'Beyond rational expectations: Indeterminacy in economic and financial markets', in Drobak J.N. and Nye J.V., (Eds.): Frontiers of the New Institutional Economic, Academic Press, San Diego, 37-58 (1997) Bauml W.J., 'Entrepreneurship: productive, unproductive, and destructive'. The Journal of Political Economy. Part 1, The University of Chicago Press, 98,(5), 893921 (1990)

ENTREPRENEURIAL IMPEDIMENTS IN BRICK UNITS

Dr.S.C.B.SAMUEL ANBU SELVAN, Assistant Professor of Commerce, The American College, Madurai. Entrepreneurship is described as the functions of handling economic activity, undertaking risk, creating something new, and organizing and coordinating resources. Few individuals possess these qualities to innovate, start a new enterprise, accept the challenge and bear the risk. Therefore, limited number of entrepreneurs are found successful and deserved to run the business without failures. This trend is apparent as far as brick units are concerned. Most of the entrepreneurs fail due to various impediments they come across in their venture. Brick is a common building material and it is considered as an indispensable material in the building industry. Brick manufacturing, being complementary to the building industry, plays a significant role in the process of urbanisation and economic development. Rapid growth of population and expansion of cities have resulted in increasing demand for better housing. This has led to the development of industries, manufacturing modern building materials such as; burnt bricks, tiles, cement, iron and steel, plumbing materials, mosaic chips and the like. It is a traditional industry in India, generally confined to rural areas. Notably, the Indian brick industry, with

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more than 1,00,000 production units, is producing 200 billion bricks annually. It is the second largest brick producer in the world, next to China. The industry has an annual turn-over of Rs.10,000 crores, and very importantly, it is one of the largest employment generating industries, employing millions of workers. Compared to the production of other materials such as metal, aluminum, and the like, investments required in the brick industry are relatively low as the industry relies on local raw materials rather than imported ones. It is roughly estimated that about 200 billion bricks are manufactured annually in India and the production will have to be doubled to meet the future requirements. Despite the growth prospects, the brick units in India are not free from constraints. Bricks are produced at the cottage in villages as rural enterprise with production technologies that vary with the size and scale of the producer. At the cottage in rural areas, the technology, in general, is simple; bricks are hand-moulded, sun dried and then fired in a pit or clamp kiln. Brick making, being a small scale industry, is also affected by various problems like other small scale industries. The entrepreneurs of brick units also face an acute shortage of raw material, clay, labour and fuel. In the early stages the brick units had locational advantages of easy and abundant clay availability. But over the years, with the increasing use, the clay stock has now been depleted. Now the brick units have to go far off places to procure clay. The transporting of clay from longer distances involves higher transport cost and so the small scale brick units face an acute shortage of clay. They are unable to afford supplies from longer distances due to the cost of transport. The brick units have to get permits for digging clay from Porampokku lands and have to pay huge amount as fee to the government. The brick unit entrepreneurs feel that they have to wait for a long time after applying for permit and this affects their production. Recently, the Government authorities disturbed the entrepreneurs of brick units for drawing clay and they are forced to satisfy the authorities - Thasildar, Village Administrative officer and Forest Department Officers in several ways. Moreover, rain affects the transport of clay from the source to the plant site. The roads become muddy and unsuitable for driving the Lorries to the interior areas of clay sources. Sudden rains bring heavy loss to the brick makers. The brick units are affected heavily by unexpected rains. Generally, the top of the kiln are not covered properly and through this the rain water enters into the kiln, rendering about 1000 to 2000 bricks on the top layers go waste. During rainy season the brick units are forced to suspend production rendering all kinds of resources idle. Labourers, like moulders, are drawn from other districts after paying an advance. Most of the labourers are engaged on contract basis. Moulders of brick units will not return to their native places for off-season. Unless the brick owners pay sufficient advance to these moulding families, they will not return to the plant promptly which leads to uncertainty of labourers availability. When moulders do not turn up, the entrepreneurs stand to lose the advance paid to them. Fuel cost accounts for 1/3 of the total cost of bricks. Fuel cost determines the price of bricks during the normal season of the year. The price of firewood is very high due to seasonal

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changes in the market. Rain also hampers the firewood supply making the muddy interior roads leading to their sources unsuitable to transport them to the kilns. Small and new units find it difficult to get adequate and prompt supply of firewood due to financial problems. Brick units entrepreneurs also feel that the fuel supply agencies fix higher prices by influencing the supply through forming an association for themselves. Brick units do not fully appreciate the importance of marketing. They face lot of marketing problem apart from the production problem too. They do not employ effective marketing methods. The manufacturers of brick units are facing a number of difficulties in marketing their bricks. The Small units, on account of their localized nature, limited sphere of activities and limited financial resources, do not adopt modern marketing techniques and are unable to employ the personnel having adequate experience and knowledge in the field of marketing. It has been found that the brick units, in general, do not possess adequate and up-to-date marketing information. They also reported that the absence of promotional measures affect the sales of bricks. Moreover, the brick units are facing tough competitions. A brick unit takes 20 to 30 days to bake a brick which is a long period. Thus the money invested in making bricks is locked up for such a long period. In addition to their scarce fund getting locked up, they are also not able to maintain a sufficient stock of bricks to meet the offseason demand. The brick units suffer a lot for want of financial assistance in requisite measure. They are compelled to meet their financial requirements from unorganized sector at a very high rate of interest. Often banks do not consider brick units credit worthy and hesitate in extending loans and other financial facilities to them. Most of the brick unit entrepreneurs borrow capital from other sources. They borrow from unorganized money lenders at very high rates of interest. The major impediments for brick units are related to concessions of land allotment, power, tax and loans but the Government is not willing to offer these concessions. Therefore entrepreneurs of brick units could not avail any kind of technical assistance from the Government or any agency like NSIC, SIDCO, SIPCOT, and TIDCO, TIIC etc. Despite the growth prospects in brick units, at present, these units are prone to a number of problems such as; dearth of raw materials, scarcity of finance, under-utilisation of technology, migration and management of labourers and inapt climatic conditions particularly rainy seasons. These impediments lead to the failures of entrepreneurship in brick units. REFERENCES: Mishra T.N. Ancient Indian Bricks and Brick Remains, Bhima Publications, Ahmedabad, 1997. Amiya Rao, Brick Kiln Labour Living in Poverty and Bondage, Economic and Political Weekly, Vol XVI, June 1981. Bhusan Tuladhar, A Number of Brick Kiln Entrepreneurs are Switching for Less Polluting Technologies, Brick Kiln Industry News, Issue 3, June 2005. Choudhary, A.B., Structural Safety of Residential Buildings with respect of Earthquakes Brick Kiln Industry News, Issue.3, June 2005. Damle, Pakistani Brick Kiln Workers Launch Indefinite Strike, Brick Kiln Industry News, Issue 2, May 2006.

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Dharmalingam A., Conditions of Brick Workers in South Indian Village, Economic and Political Weekly, Vol 26, No.11, 1995.

ENTREPRENEURS AND CORPORATE SOCIAL RESPONSIBILITY

C.DEEPAKKUMAR, Asst. Professor, Department of MBA, KV Institute of Management and Information Studies, Coimbatore. The Corporate Social Responsibility has made the industry to have a changed environment by implementing environment friendly products, supporting the NGO for welfare organization and helping the persons to have a better productivity and income and to have a better future. The business persons believe that through CSR by operating ethically and responsibly they have a greater chance of success. The global business has made the corporate to signed with the factors like labor standards, human rights, the environment and anti-corruption. Companies are often confronted with pressing problems in these countries, for instance crushing poverty, inadequate health care, HIV, corruption, child labor, restrictions on trade union activity, poor education systems as well as the absence of rules on working conditions and environmental protection. The responsibility of the organization to help the society and employees working under them by giving worker rights for trade union representation, abolition of child and forced labor, awareness and information about the impacts of the companys activities on environment, health and safety, ensuring product safety, effective handling of complaints, punctual payments of tax debts. In India we, Support some of our programs and social service initiatives. Adopt a child, family, school, or a village to meet you social responsibility. Corporate can sponsor a vocation training program through our Sponsor a Skill drive. Buy greeting cards from our partner NGOs. Many organization are helping by giving scholarships to the students, donation through useful material for the hospitals and educational institution in the rural areas. CSR - Definition The commitment of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve their quality of life (World Business Council on Sustainable Development). Operating a business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business (Business for Social Responsibility) A set of management practices that ensure the company minimizes the negative impacts of its operations on society while maximizing its positive impacts (Canadian Centre for Philanthropy). The integration of business operations and values whereby the interests of all stakeholders including customers, employees, investors, and the environment are reflected in the companys policies and actions (The Corporate Social Responsibility Newswire Service).

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Reviews Carroll (2006) provided a rich historical account of the evolution over the last fifty years of businesses approach to societal responsibilities. Over the past two decades, the traditional concept and practice of corporate philanthropy has undergone a significant evolution into Corporate Social Responsibility with a variety of labels, such as corporate citizenship, triple bottom line, and strategic philanthropy (Zadek 2001; Carroll 2006; Visser, Matten et al. 2007; Googins, Mirvis, and Rochlin 2007). (Paine 2003) top management helps to assure that operating performance is aligned with professed commitment to social value creation. Social and corporate entrepreneurship differentiate the roles of the social or corporate entrepreneur from the role of managers. Both are distinct and usually sequenced: the former is a change catalyst for the launching of start ups, the latter is critical for seeing these initiatives through and implementing them. (Thompson, Alvy, and Lees 2000). CSR policies are seen as being business decisions that pass beyond the economic and technical interests of the organization (Carroll, 1991). CSR initiatives are major activities undertaken by a firm in order to sustain social causes and to fulfill its commitment to corporate social responsibility. It covers areas like: health (AIDS, cancer), safety (crime prevention), education (education for those in need), job creation (training practice) environment (recycling) economic and social development (low interest loans for purchase of apartments), and it meets other basic human needs and desires (combating hunger, poverty, discrimination) (Wills, 2009). Hartigan (2006) believes that social entrepreneurship follows the transformation of entrepreneurship in a progressive way. This definition involves entirely new models, innovative, ingenious ones based on identifying opportunities. Casson (1982) shows that social entrepreneurship can be seen as a process met both in private and public sector. Many authors have given various nuances to the concept (Bornstein 2005, Nicholls 2006, Light 2008, Elkington and 1994). Korosec and Berman (2006) include social entrepreneurship in the process of individuals or of the private organizations that have the initiative to identify and solve social problems, in order to develop new ways of solving social problems. CSR - Industries Role There are many industries take part in the rally for the benefit of the society and the surrounding. The main core works done by the PepsiCo are replenishing water, Solid waste management, partners with farmers, and healthy kids. And also they have policies like human sustainability policies which they want a healthy living through safest and highest quality products, Environment sustainability policies - water savings, waste reuse, soil protection and chemical use. The Indian Oil company have mission stats that to help to enrich the quality of life of the community and preserve ecological balance and heritage through a strong environment conscience." So they promote by delivering education to the students and donation beds and equipments to the hospitals and giving scholarship for the students for education purposes. So the social responsibility have changed the world, by giving opportunities for the industries to do a responsible role for the society by involving the employees, volunteers, social groups for the welfare of the society. So the term such as Total Quality, Go

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Green, Solid Waste Management and Organic Foods has given a new dimension for the society or nation to have a safety and healthy life. REFERENCE: Catalina Mitra Crisan (2012) Social Entrepreneurship and Corporate Social Responsibilities International Business Research Vol 5 No 2 February 2012. Brain W. Burkett et. al., (2006) Corporate Social Responsibility: An Evolving global business phenomena. Grant Thornton (2008) Corporate Social Responsibility: a necessity not a choice International Business Report 2008. Dr. Dieter Hundt (2006) International aspects of corporate social responsibility (CSR) practical advice for companies Kim Kercher (2007) Corporate social responsibility: Impact of globalization and international business, Corporate governance eJournal. Web sites http://www.csrworld.net/pepsico%E2%80%93corporate-social-responsibility.html PepsiCo Corporate Social Responsibility http://www.india.gov.in/spotlight/spotlight_archive.php?id=78 - Social Obligations of Central Public Enterprises.

ENTREPRENEURSHIP & SMALL BUSINESS UNITS IN TIRUPUR DISTRICT

Dr V.B.USHA Professor & Head, PG & Research Department of Management Science, Ms S.MEKALA, Assistant Professor, PG & Research Department of Management Science Parks College, Chinnakkarai, Tirupur 5, Abstract: India is the worlds second largest producer of textiles and garments after China. The Indian textile industry is as diverse and complex as country itself and it combines with equal equanimity this immense diversity into a cohesive whole. In both developed and developing countries, the government is turning to small and medium scale industries and entrepreneurs, as a means of economic development and a veritable means of solving problems. Tirupur is the "knitwear capital" of India. It has spurred up the textile industry in India for the past three decades. Its economic boom boosts the morale of Indian industrialists. It contributes to a huge amount of foreign exchange in India. This paper identifies the role of the government as a participant, regulator and facilitator, in the growth of SMIs and Entrepreneurship and throws light on the marketing problems, provision of infrastructural facilities, constant manpower and development, direct financial assistance and the establishment of finance institutions to support SMIs for development and growth. INTRODUCTION: Tirupur is the "knitwear capital" of India. It has spurred up the textile industry in India for the past three decades. Its economic boom boosts the morale of Indian industrialists. It contributes to a huge amount of foreign exchange in India. Tirupur has the largest and fastest growing urban agglomerations in Tamil Nadu. Tirupur stands as the life for millions of people in Tamil Nadu. The knitwear industry which is the soul of Tirupur has created millions of jobs for all class of people. There are nearly about 3000 sewing units, 1326

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knitting units, 730 dyeing units and other ancillary units which are un-countable. Tirupur is a Centre for cotton market and Cotton Ginning Factories. Though Cotton Trading and Ginning operations have shrunk, Tirupur is still a popular market for unginned cotton. Tirupur is a textile town where commerce precedes everything. Tirupur gain stem from its performance in technology and the quality of its macro-economic environment. It also derives much of its ascent from improved perception of its public service. Buyers from 35 countries frequently visit Tirupur regularly. Tirupur can deliver customized samples in less than12 hours; half a million pieces in a matter of days. 56% of India's total knitwear exports come from Tirupur. The Export Import Policy makes laudable tribute to Tirupur for its contribution to the export efforts and calls it a 'Town of Export Excellence' The rich availability of Raw materials, being in close proximity to Coimbatore which is a major centre of cotton spinning industry in the country makes Tirupur being able to access its basic raw materials quickly and as and when required; the strong entrepreneurial lan and personalized management contributes to efficient management of negotiations and direct control of operations causing cost effective competitiveness of the Industry. ROLE OF GOVERNMENT IN SUPPORTING ENTREPRENEURSHIP: Small and Medium-sized business units in market economies are the engine of economic development. Small scale business units contribute to sustainable growth and employment generation in significant manner which is owing to their private ownership, entrepreneurial spirit, their flexibility and adaptability as well as their potential to react to challenges and changing environments. SMEs have strategic importance for each national economy. The government shows such an interest in supporting entrepreneurship and SMEs. There is a simpler way to create new job positions, increasing GDP, rising standard of population, supporting entrepreneurship and encouraging people to start their own business. Designing a comprehensive, coherent and consistent approach of Council of Ministers and entity governments to entrepreneurship and SMEs in the form of government support strategy to entrepreneurship and SMEs is an absolute priority. A comprehensive government approach to entrepreneurship and SMEs would provide a full coordination of activities of numerous governmental institutions (chambers of commerce, employment bureaus, etc.) and NGOs dealing with entrepreneurship and SMEs. With no pretension of defining the role of government in supporting entrepreneurship and SMEs, believe that apart from designing a comprehensive entrepreneurship and SMEs strategy, the development of national SME support institutions and networks is one of key condition for success. The governments should create different types of support institutions: i) To provide information on regulations, standards, taxation, customs duties, marketing issues; ii) To advise on business planning, marketing and accountancy, quality control and assurance; iii) To create incubator units providing the space and infrastructure for business begin, innovative companies, and helping them to solve technological problems, to search for know-how and promote innovation; iv)To help in looking for partners in order to stimulate entrepreneurship and improve the business environment for small enterprises. PROBLEMS OF SMALL SCALE BUSINESS UNITS:

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Small-scale industries in Tirupur could not progress satisfactorily due to various problems that they are confronted with while running enterprises. In spite of having huge potentialities, the major problems, faced by small industries are given below. 1. Problem of unskilled manpower: The success of a small enterprise revolves around the entrepreneur and its employees, provided the employees are skilled and efficient. Inefficient human factor and unskilled manpower create innumerable problems for the survival of small industries. Non-availability of adequate skilled manpower in the rural sector poses problem to small-scale industries. 2. Inadequate credit assistance: Adequate and timely supply of credit facilities is an important problem faced by small-scale industries in Tirupur. This is partly due to scarcity of capital and partly due to weak creditworthiness of the small units in the city 3. Irregular supply of raw material: Small units face severe problems in procuring the raw materials whether they use locally available raw materials or imported raw materials. The problems arise due to faulty and irregular supply of raw materials. Non-availability of sufficient quantity of raw materials, sometimes poor quality of raw materials, and increased cost of raw materials, foreign exchange crisis and above all lack of knowledge of entrepreneurs regarding government policy are other few hindrances for small-scale sector. 4. Absence of organized marketing: The important problem faced by small-scale units in Tirupur is the absence of organized marketing system. In the absence of organized marketing, their products compare unfavorably with the quality of the product of large- scale units. They also fail to get adequate information about consumer's choice, taste and preferences of the type of product. These problems do not allow the small scale business units to stay in the market. 5. Lack of machinery and equipment: Small-scale units are striving hard to employ modern machineries and equipment in their process of production in order to compete with large industries. Most of the small units employ outdated and traditional technology and equipment. Lack of appropriate technology and equipment create a major stumbling block for the growth of small-scale industries in Tirupur city. 6. Absence of adequate infrastructure: Indian economy is characterized by inadequate infrastructure which is a major problem for small units to grow. Most of the small units and industrial estates found in Tirupur city are having one or more problems like lack of power supply, water and drainage problem, poor roads, raw materials and marketing problem. Thus absence of adequate infrastructure adversely affects the quality, quantity and production schedule of the enterprises which ultimately results in under-utilization of capacity. Besides the above problems, small-scale units have been of constrained by a number of other problems also. They include poor project planning, managerial inadequacies, old and orthodox designs, high degree of obsolescence and huge number of bogus concerns. Due to all these problems the development of small-scale industries in Tirupur could not reach a prestigious stage.

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MARKETING PROBLEMS OF SMALL SCALE INDUSTRIES: According to small scale business units the major problems are: lack of finance, lack of raw materials, lack of infrastructural facilities, lack of government support, high cost of production, lack of skill workers, lack of training facilities etc. Apart from this, also the marketing problems are there in the city of Tirupur. Small-scale units ever go in deep to identify the problems relating to marketing. Everywhere they find other problems except marketing. Every small-scale unit has opined that there is tough competition in the market. The other large scale units producing the same products are their rivals and the foreign goods are the main competing products. Perhaps, the small scale units consider the individuals as their competitors, and competition not as the marketing problem. Entrepreneurs face problems relating to situation analysis, marketing objectives, selection of target market, product policies and practices, pricing policies and practices, distribution policies and practices and promotion policies and practices for effective implementation and control in their business. CERTIFICATION The problem of marketing for a small-scale business is the issue of certification. Whatever the product, it is subject to laws and regulations regarding consistency, purity and the like. Acquiring the certifications is often costly for a small-scale business. However, without them, sales will be more limited. TRANSPORTATION The marketing problem facing the small-scale business is transportation. A large-scale business can buy an item in bulk, which saves money. A small-scale business may not have the money or demand to order such quantity, which raises item cost. This creates a marketing issue: How can a small company sell the same item as its competition at a higher price and remain competitive? That is why many small-scale industries focus upon selling a higher-quality item than its mass-marketed competition. COST OF ADS: A final problem facing small-scale marketing efforts is the cost of advertising. Running a full-page Sunday newspaper ad or Super Bowl TV commercial is no financial hardship for certain large businesses. However, such costs are obviously prohibitive for small-scale businesses. Thus, many will circumvent this dilemma through forming co-ops to split advertising costs or using local advertising and word-of-mouth. PROVISION FOR INFRASTRUCTURAL DEVELOPMENTS: The Scheme of Integrated infrastructure Development (including technological backup services) for small scale industries to facilitate the location of industries in rural/backward areas, to promote stronger linkages between agriculture and industry and to generate employment was launched in 1994. By the end of December 1998. 46 IID Centres have been sanctioned in the rural/backward areas which were not covered under the Growth Centres Scheme being implemented by the Department of Industrial Policy Promotion to create and develop infrastructural facilities like developed sites, power distribution network, water, telecommunications, drainage and pollution control facilities, road, banks, raw materials depots, storage and marketing outlets, common facilities and technological back up services. MAN POWER IN SMALL BUSINESS UNITS:

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Small and medium-scale enterprises (SMEs) here hit by severe manpower shortage and are taking several measures to find a solution. A large of the SMEs here makes components for large-scale industries. High interest rates and a slowdown in some of the key manufacturing sectors have brought down the production and delivery pressures for the units. Though man power shortage continues, it does not have severe impact on production and many units are able to get workers. Industries here were working at lower capacities because of power and labor shortage. Earlier, the industries found it extremely difficult to get workers. Now, though the shortage continues, the units are able to get candidates FINANCIAL ASSISTANCE: Central and State Governments have introduced several schemes to ensure adequate and timely availability of credit to SSIs through various institutions The main features of the financial services offered by institutions are as follow: a) Financial assistance for the equipment and marketing activities under one roof with speed and efficiency. b) Prompt clearance of the proposals with minimum processing time and without cumbersome paper work. c) Assistance in preparing the proposals and completion of document formalities. d) Market oriented interest rates and service charges with liberal terms of margin, level of assistance and repayment schedules. e) Arrangement with commercial banks for sanction of loan proposals received from small enterprises. NEW INITIATIVES: The Government has recognized its importance for the economy and its intention towards promotion of SSIs is reflected in various Industrial policy Resolutions right from the year 1948. The primary objective of the Small Scale Industrial Policy during the nineties was to impart more vitality and growth-impetus to the sector to enable it to contribute its mite fully to the economy, particularly in terms of growth of output, employment and exports. Government is aware of the challenges faced by SSIs and has been trying to improve their competitiveness through various measures. These consist of the following: a) Tax concessions have been provided to SSIs to promote investment in this sector and also to grant relief to small entrepreneurs. b) Technological facilities have been increased. c) In order to facilitate adequate flow of credit efforts have been done. d) Measures have also been taken to improve infrastructure facilities and promote marketing of products. To improve access to latest information, automation of the Ministry of SSI Office of DC (SSI), Directorate of Industries and District Industries Centres have been set up. The following new initiatives have been taken by the government: a) Advisory and Mentoring Services: Inadequate management skills are often the cause of non-performance of small enterprises. NSIC's advisory and mentoring services are aimed at effectively addressing this impediment to growth. It offers Mentor-pupil relationship services in which the Mentor, a person with wide experience is running his own business, will volunteer his services to individual or a group of units - the pupil. Mentors and advisor will provide the necessary professional and moral support in the early lifecycle of an enterprise or to existing units facing critical operational problems. b) Technology Business Incubators: Innovative entrepreneurial ideas have to be fostered and developed in a supportive environment before they become attractive for Venture

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Capital Institutions. Incubation centre enable technical entrepreneurs to conduct their Research and Development programmes in a professional, friendly and supportive environment, without making any further investment. Technology Business incubators are an important tool for entrepreneurial development. Recognizing this need, NSIC has setup the following Technology Business Incubators. 1. Information Technology 2. Product Design. 3. Energy and Environment. 4. Bio-Technology. 5. Electronics and Communications c) Suppliers Rating Accreditation Services: Accreditation, a necessity for buyer comfort, speaks of the enterprise's ability to supply reliably and effectively a product, in accordance with the customers changing needs. NSIC provide accreditation to SSI units by developing an effective accreditation system process through collaboration with Indian and International Accreditation agencies. Accreditation is provided at two levels - for all Government purchases and for private national and international buyers. CONCLUSION: The Small scale industry has a vital role in expanding employment opportunities and increasing the income of rural communities and backward areas. The success of small scale industries in Tirupur cannot be separated from the fact that the employees in the region have an expertise in combining local materials with modern designs. The cooperation between local entrepreneurs and exporters from foreign countries has succeeded in expanding the marketing of garment products. On the other hand, the small scale industries in Tirupur do not show rapid development compared to other countries, due to the lack of modern design input from government and non-government institutions. Although small scale industries in Tirupur have created foreign exchange, the entrepreneurs in the region generally encounter common problems in terms of their lack of management skills, limited mastery of technology, lack of consistent quality control, delayed innovation in product designs, a limited market development plan, and difficulty in obtaining finance for their operations. So the government should give hands for those small entrepreneurs for the development of the industry and economy. REFERENCES: 1. http://www.hindu.com/2011/06/28/stories/2011062861240200.htm 2. http://www.oecd.org/redirect/dataoecd/25/18/1919300.pdf 3. http://business.gov.in/business_financing/goverment_fund.php 4. http://business.gov.in/business_financing/financial_institutions.php 5. http://www.isec.ac.in/Institutional_finance_%20for_the_development_of_small_sc ale_industries_in_Karnataka.pdf 6. http://smallbusiness.chron.com/problems-marketing-products-small-scale-business590.html 7. http://www.preservearticles.com/201101153374/problems-faced-by-small-scaleindustries-in-india.html 8. http://exim.indiamart.com/ssi-policies/integrated-infrastructure.html 9. http://www.du.ac.in/fileadmin/DU/Academics/course_material/EP_20.pdf 10. http://www.du.ac.in/fileadmin/DU/Academics/course_material/EP_19.pdf

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SHG & WOMEN ENTREPRENEURSHIP A CLOSER LOOK

PROF. V.N. PARTHIBAN, Department of Commerce, RKM Vivekananda College (Govt. aided), Mylapore, Chennai-600 004. INTRODUCTION In todays world the women occupy a pivotal role in the world of business and commerce. Most of the women are educated, enterprising and intelligent. The less educated women require encouragement from the Government as well as the Non-governmental bodies to improve and uplift them from the shackles of the traditional slavery and inaction. In most of the countries of the world, the women have been subservient to man and were treated as secondary citizens but the time has changed. It is a matter of pride that women occupy a very important position in both Government and private organizations. Their clear thinking, efficiency and sincerity, perseverance has created envious position especially in the corporate sector. Down the scale popularly known scheme Self-Help Group (SHG) has opened vistas for middle class, lower-middle class women who have the capability and ability not only to create ideas but converting the ideas into reality has come into vogue. SHG encourages entrepreneurship which is basically converting an idea into action. Women in village; women in Panchayat, women in semi-urban area, women in urban areas are more enterprising today. They contest election, they command respect and position. That is what SHG are proving. SHGs are working in a democratic manner. These groups are independent groups consisting of member between 10 and 20 in number. The same money, enrich the group with their initiatives. They borrow money from public sector banks along with savings and distribute among themselves to do some business. It is something like a miniature co-operative society with a limited number, but unlimited scope for growth and development. Importantly, the money earned unlike the mens money goes fully to the family and it is not misused. Women act with responsibility, accountability and with more ability. They should be encouraged. Further, women must be educated and trained constantly to acquire skills and knowledge in all functional areas of business management. SELP HELP GROUPS (SHGs) Self HelpGroup commonly known as mutual-aid group. SHG can be defined as, Supportive, educational and usually change oriented group that address a single life problem or condition shared by all members. Self Help Groups are self-managed groups of women who have come together to promote savings among themselves as well as pool savings for activities benefiting other individuals or communities economically. Through participation in the SHGs, women get responsibility at various levels. This makes them more self-confident and helps them fight against various social evils in the society. SHGs primarily deal with economic resources, which in turn empower people through the values of equality, participation, accountability and transparency. The empowerment of women through SHGs would lead to benefits not only to the individual women and womens groups but also for the family and community as a whole through collective action for development. Self Help Groups generate more employment opportunities to women entrepreneurs both in rural and urban areas. It is through the active participation of all group members that makes it effective in dealing with social or life issues. Self Help Group is generally an economically homogenous group formed through a process of self-selection based upon the affinity of its members. Most SHGs are womens groups

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with membership ranging between 10 and 20. They have well-defined rules and by-laws, hold regular meetings and maintain records and savings and also credit discipline. SHGs are self-managed institutions characterized by participatory and collective decision making. SHGs are working in a democratic manner. They periodically discuss various issues relating to group savings, rotation of funds, bank loan, repayment of loan, social and community action programmes. WOMEN ENTREPRENEURSHIP Entrepreneur is a person who converts his ideas into a profitable business venture. The process through which he realizes this objective is called entrepreneurship. Entrepreneurship has tremendous impact on the economy and on society. Entrepreneurship among women is an emerging recent phenomenon. It is the process of creating value by attracting together a unique package of resources to exploit an opportunity. Women entrepreneurs are those women who conceive the ideas or thoughts relating to business enterprise, initiate it, plan and organise, combine the various factors of production, operate the enterprise, undertake risks and manage the economic uncertainty involved in running a business enterprise. According to Marshall, any woman or group of women which innovates, initiates or adopts an economic activity may be called as Women entrepreneurs. Women entrepreneurs are important source to increasing the per capita income as well as national income. It creates self-confidence, self-respect and enhances the motivational level of women. Women entrepreneurs lacked in entrepreneurial traits and skills and therefore they must be molded properly with requisite skills so as to meet the changes in trends, challenges in national and global markets and also be competent enough to sustain and strive for excellence in the entrepreneurial area. CATEGORIES OF WOMEN ENTREPRENEURS 1. Women in urban and rural areas. 2. Women in organised and unorganised sector. 3. Women in traditional and modern industries. 4. Women in small scale industries, medium and large scale industries. 5. Women in sole proprietorship and joint venture. CONCLUSION: With the popularity of the SHG among women and the support and encouragement from Government it is heartening to note that a number of private and public sector financial institutions especially banks are coming forward to not only to give them finance but also guidance for proper investment and efficient management of any small business that the members of SHG undertakes. This trend is very healthy and gives hope for several thousands of women whose lives are blocked by drunken husband, irresponsible short sighted parents and indiscipline children. It gives them freedom, independence and liberty so that they form the crux of the business activities in the society. SHG is a best idea and conceived and extended the women entrepreneurs for not only helping themselves but also help their family and nation. Women entrepreneurs faced constraints in the matter of financial, marketing, procurement, production, work place facility and health problems. Financial problems faced were nonavailability of credit especially medium and long term finance, regular and frequent need of working capital for the business. The various marketing problems faced by them were improper location of shop, lack of adequate infrastructural facilities, lack of transport

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facilities etc. were major marketing problems. Non-availability of raw material, power, water, warehouses etc. were considered as production problems. In addition to that women entrepreneurs mainly face health related problems like stress, fatigue, tension etc. Women entrepreneurs therefore need for entrepreneurial training relating to develop managerial and entrepreneurial skill among educated members in SHGs because Women today are more willing to take up activities that were once considered the preserve of men, and have proved that they are second to none with respect to contribution to the growth and development of the economy. A desirable environment is necessary for every women entrepreneur to involve greatly in business activities/ventures.

EDUCATIONAL INSTITUTIONS AS CATALYST FOR DEVELOPING ENTREPRENEURS

DR. P. SHYAMALA , Asst. Professor, Dept. of Management Studies Fatima College, Madurai. ABSTRACT Entrepreneurship is a catalyst for economic development and job creation. It accelerates industrial development of a country and generates employment opportunities resulting in overall improvement of the standard of living of the people. The youth in India have many ideas and dreams but unable to convert them into realities. There is a need to provide them a world class education and training by successful investors and entrepreneurs in order to develop them as successful entrepreneurs. Thus the educational institutions serve as the catalyst for developing entrepreneurs. Being an educational institution committed to nationbuilding, have started Centre for Entrepreneurship Development with the objective of helping people discover and use entrepreneurship to become self-reliant. Entrepreneurship is an emerging, active and multidisciplinary research specialization. Educational institution fosters entrepreneurship research by bringing people, ideas and resources together to explore the entrepreneurial processes and performance in regional, international, sectoral, organizational, family firm and social enterprise contexts. The Innovation and Entrepreneurship Development Centre (IEDC) is being promoted in educational institutions to develop institutional mechanism to create entrepreneurial culture in academic institutions and to foster techno-entrepreneurship for generation of wealth and employment opportunities. The IEDCs are established in academic institutions (science colleges, engineering colleges, universities, management institutes) having requisite expertise and infrastructure. Thus the educational institutions motivates innovation among the students through assignments, live project and discussions which results in developing entrepreneurs for the nation Key words: Entrepreneurship, innovation, educations, risk taking INTRODUCTION Entrepreneurship is a catalyst for economic development and job creation. It accelerates industrial development of a country and generates employment opportunities resulting in overall improvement of the standard of living of the people. The youth in India have many ideas and dreams but unable to convert them into realities. There is a need to provide them a world class education and training by successful investors and entrepreneurs in order to develop them as successful entrepreneurs. Thus the educational institutions serve as the catalyst for developing entrepreneurs. Being an educational institution committed to nationbuilding, have started Centre for Entrepreneurship Development with the objective of

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helping people discover and use entrepreneurship to become self-reliant. Entrepreneurship is an emerging, active and multidisciplinary research specialization. Educational institution fosters entrepreneurship research by bringing people, ideas and resources together to explore the entrepreneurial processes and performance in regional, international, sectoral, organizational, family firm and social enterprise contexts. The Innovation and Entrepreneurship Development Centre (IEDC) is being promoted in educational institutions to develop institutional mechanism to create entrepreneurial culture in academic institutions and to foster techno-entrepreneurship for generation of wealth and employment opportunities. The IEDCs are established in academic institutions (science colleges, engineering colleges, universities, management institutes) having requisite expertise and infrastructure. Thus the educational institutions motivates innovation among the students through assignments, live project and discussions which results in developing entrepreneurs for the nation A nation howsoever rich it may be in material resources, cannot prosper if its resources are not put to productive use. So it tells the need for energetic entrepreneurs who can contribute effectively for national prosperity. Nowadays Entrepreneurism is growing among the youth particularly among college entrepreneurs. The origin of the term denotes its importance. The term entrepreneur is derived from the French word Entreprendre which means to undertake. The original related words in English are entry and enterprise. The two words are combined and the new term is developed. According to Schumpeter, entrepreneur is the one who introduces something new in the economy. Peter Drucker defines an Entrepreneur as one who always searches for change; responds to it exploit it as an opportunity. The success of every business and especially a new start up business is dependent upon the personal qualities and abilities of the business owner. The personal qualities a business owner possesses are more likely to determine the level of success. Abilities such as hard work, determination, persistence, intuition, tolerance and aggression can be the bedrock of success. An entrepreneur is a person who organizes, operates, and assumes the risk for a business venture and possess the characteristics such as: Confident Risk taker Hard working Creative Flexible Dedication Believer Never quits Impersonal, task oriented Idealistic Self-motivated Innovative Problem solvers Able to overcome challenges Perfectionist

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Starting a business is never easy. But having these basic skills will at least, lessen the pain of the start-up process, giving a greater chance in seeing the business grow and prosper. The five skills needed for the entrepreneurs to be a successful are 1. Sales and marketing skills Sales and marketing are the two most important skills needed to start the business. Entrepreneurs acquire these skills through specialization in various disciplines. 2. Financial know-how Entrepreneurs enter business to make money. Therefore, the most important skill the entrepreneurs must have is the ability to handle money well. This includes knowing how to stretch the limited start-up capital, spending only when needed and make up with the equipment and supplies that currently have. 3. Self-motivation skills As an entrepreneur, everything rests on the shoulder of the entrepreneurs from thinking where to get the money to fund the business, developing the product, determining how to reach the customer, and so on. Entrepreneurs need to be smart enough to know when they have to go ahead, and when to stop. 4. Time management skills The ability to plan a day and manage time is particularly important for a business. Entrepreneurs must have a clear idea of things they must do for the day. Multi-tasks have to be carried out with a plan 5. Administration skills Organize office space and filing papers and mails, in the tasks of managing, marketing and planning the business, great deal of administration skills are needed. To succeed in business, entrepreneurs must be a self-starter with a clear desired goal in mind. All these skills are well thought in colleges. A wide range of teaching and learning strategies are framed in colleges to develop entrepreneur skills among the entrepreneurs. ENHANCING ENTREPRENEURSHIP The analytical power of mind differentiate one group from another. It also influences functions, norms, objectives of the working environment. Thus the following suggestions are offered to enhance entrepreneurship Following are the methods of sharing knowledge to enhance entrepreneurship in educational institutions Group Discussion current and hottest topic in demand can be discussed in group. In this process employees learn to focus their individual efforts and provide an opportunity to educate others. Brain storming sessions - innovative ideas are listed; employees are free to express their ideas. The importance and necessity of each idea can be discussed. Seminars or conferences -Frequent seminars or meetings explore the idea of all workers. Many firms are slowly moving towards new technological configurations, as the jobs are changing everyday. Thus seminar provides a path way to satisfy knowledge thirst of workers.

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Participation- Employees participation in decision making process assesses their importance and their ideas can also be respected. It provides scope for participation in goal setting. Role Plays- Employees can be given different situations and may assume certain roles which ensure knowledge sharing in an effective way. It promotes inter personal relations and a better understanding among individuals. Employee Development Programmes- EDPs provide considerable intellectual stimulations. Employees can acquaint with new concepts and developments in technologies. Team work- Division of work promotes specialization among employees; work can be done effectively if it is assigned to teams. Collaborative efforts bring success to organization. Sharing of knowledge is also increased in team work; which in turn results in increasing productivity of the organization. Hurdles can be tackled easily in team work. Quality of the work can also be improved. Skill games- Management games have to be conducted to test the analytical skills of employees. Regular feed back and follow up should be made. Morphological analysis- Problems can be solved in different ways. It provides an opportunity to employees to list alternative solution to the problems. Single problem offering solutions in different perspectives can be given. The best ideas can be rewarded to motivate employees. Performance Appraisal- Assessment of an individuals performance in a systematic way. The performance can be measured in terms of knowledge, leadership abilities, versatility and the like. Potential of the employees for future performance must also be assessed. Feed Back Employees performance can be discussed and feedback can be given on critical attributes. It improves job knowledge and skills at all levels of organization. Competitions- Healthy competitions such as Star of the month, Best Performer of the year, Quiz Master, Excellency in IQ, Good Creator, Best team can be introduced. It aids in understanding and carrying out organizational policies in an effective manner. Quality Circles- QCs can be formed in the organization. It develops a sense of responsibility for being competent and knowledgeable. It also aids in organization development which in turn ultimately benefits employees.

CONCLUSION: The spirit of enterprise makes man an entrepreneur. Such a spirit brought in him the drastic change and transformation. The skills are important tools to develop creativity among entrepreneurs. It improves the strength of entrepreneurs and reduces their weakness. Therefore the entrepreneurs are playing a major role in economic development. EARN WHILE YOU LEARN should be popularized among the students to become entrepreneurs. In Business battles the successful entrepreneur wins. Determination and persistence must go hand in glove with success and it is possible with the energetic college community. Therefore entrepreneurs have to expand methodically from developing entrepreneur skills to a balanced business. Thus the survival and sustainable development of entrepreneurs will go a long run in the future.

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REFERENCES: Dr. Jayshree Suresh, Entrepreneurial development., Margham publications, Second edition. D.D.Sharma, Entrepreneurship, strategic management and globalization., Rawat publications. Steven c. Brandt, Entrepreneuring the ten commandments., Macmillan, third edition. M.Sundaram, Entrepreneurship development, Sandarbh publishers. www.powerhomebiz.com www.marriottschool.byu.edu

INCLUSIVE GROWTH OF WOMEN ENTREPRENEURS IN INDIA

S. PANDISELVI, Assistant Professor, & R.R. MANASA, Department of Commerce, Sri Krishna Arts and Science College, Coimbatore Introduction: An entrepreneur is a person defined as one who initiates and establishes the enterprise and the economic activities. Government of India has defined women entrepreneurs as an enterprise owned and controlled by a women having minimum financial interest of 51% of the capital and giving atleast 51% of employment generated in the enterprise to women. The development of women entrepreneurship enables the society to understand and appreciate their ability. Entrepreneurs are the innovators, researchers and risk-takers of the company. Entrepreneurship thus refers to the general trend of setting up new enterprises in a society. Women Entrepreneurs: Women entrepreneurs play a very vital role in socio-economic welfare of the country. Women entrepreneurship is the process which is formed by a women or group of women to organize and initiate the business enterprise and provides employment opportunity to themselves and for others. The women entrepreneurs are well knowledged than the any other workers. Worldwide, there are many women entrepreneurs. The global impact of women entrepreneurs is just beginning to gain intensity. Women entrepreneurs play a big role in all business levels such as, domestically, regionally, and globally. In India, although women constitute the majority of the total population, the entrepreneurial world is still a male dominated one. The women entrepreneurs ability can be improved from the following ways; a) developing women entrepreneurship through Educational system b) encouraging financial institution to give credits c) socio-cultural context of womens growing at a considerable rate d) providing awareness about women entrepreneurship Objective of study: to study about the importance of Women Entrepreneurship to findout the challenges and problems faced by Women Entrepreneurs to study the new role of women in our economic development to identify the motivational factors that drove the Women to become Entrepreneurs 439

to formulate the growth of the Women Entrepreneurs in India

Categories of Women Entrepreneurs: Women Entrepreneurs are categorized in various ways; such as women as traditional & modern ways Women in urban and rural areas Women as single or joint venture Women in organized and unorganized sectors Women in large scale and small scale industries

SHG (Self Help Group): The SHG system was first introduced in 1992, to connect poor people with the bank credit. This system reduces the transaction cost for banks and loan availing cost of borrowers. Self-Help Group may be registered or unregistered. SHGs create the habit of accumulative savings and leading activities amongst women. SHG is the most effective movement emerged for the purpose of proving micro finance in recent years, ad act as an intermediaries inspired by the external financial institutions. They also take loans from the money collected by the group and repay them duly with the interest they does it by the recycling form. It typically comprises a group of micro entrepreneurs having homogeneous social and economic backgrounds, voluntarily forthcoming to save regular small sums of money, mutually agreeing to contribute to a common fund and to meet their emergency needs on the basis of mutual help. The SHG system also helps women entrepreneurs by, generating social capital in order to address larger issues. Importance of women entrepreneurs: It is important to develop women entrepreneurs in todays world. The development of women has become an important issue in present day context. Analyses have so far considered anthropological, social and economic factors, which either inhibit or facilitate women development. The development of Self Help Group has slowly fetched the major development of women entrepreneurs. A significant trend over the recent years has been towards examining cultural and psychological dimensions of womens role. The role of women entrepreneurs was not up to expectation due to lack of government support at every stage. In recent years the government of India has implemented many schemes for encouraging the development women entrepreneurs. Challenges faced by Women entrepreneurs: Women entrepreneurs have many challenges to overcome their problems they face in the business sector. The following are some challenges faced by women entrepreneurs such as; a) Lack of confidence: In women lack of confidence acts as a major problem. Usually women lack their confidence in own capabilities. Society in general also lacks confidence in a womans strength and competence b) Market oriented risks: Due to heavy competition in the market and the lack of mobility the middle mens are used for marketing by the women entrepreneurs.

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c)

Problems of finance and working capital: The other problem faced by the women entrepreneurs is lack of access to funds because they do not possess any tangible security and credit in the market.

d) Production problems: Since women entrepreneurs has lack of knowledge over marketing they are unable to face the problems in production units. They must follow common activities to form co-ordination in each production units. The improper coordination and delay in execution of any activity cause production problems. e) Motivational factors: Motivation factor acts as a self challenge which is realized through a mind set for a successful business, attitude to take up risk and behavior towards the business society.

Problems faced by Women entrepreneurs: There are many problems being faced by women entrepreneurs in todays corporate world. Such as, 1. Credit availability 2. Production problems 3. Poor Transportation 4. Lack of governing body 5. Lack of Management 6. Inefficient market management 7. Marketing competition 8. Inefficient storage facility 9. Modern technology 10. Socio-cultural barriers 11. Availability of labour 12. Non availability of subsidies 13. Scarcity of raw materials 14. Promotion 15. Innovation 16. Absenteeism As womens are facing many constrains it has became difficult to develop women entrepreneurs. The reasons for which women enter business seem quite different from that of men to become entrepreneurs. The first and foremost priorities have been identified as to fulfill ones ambition and to pursue own interest, which indicates their sense of independence. Conclusion: Now-a-days the women involvement is being increasing in the field of entrepreneurship at a considerable rate, efforts are being taken at the economy as well as global level to enhanced womans involvement in the entries sector. In India Women entrepreneurs are treated as an inspiration for all other entrepreneurs where Indian women entrepreneurs are well knowledged about the business society. The main problems faced by women entrepreneurs are getting financial helps. Also the major challenges are to face, many government schemes and subsidiary given to them which influence many to become entrepreneurs. Thus for the continues growth and development of the women entrepreneurs, it is necessary to formulate many government strategies for simulating and supporting them.

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WOMEN ENTREPRENURSHIP CHALLENGES AND PROSPECTS IN INDIA

R. SRI DEVI, Research Assistant, & N. SOFIA, M. Phil Scholar Centre for Study of Social Exclusion and Inclusive Policy, Manonmaniam Sundaranar University, Tirunelveli 12. Abstract Women with small families are likely to be entrepreneurs. An educated Indian woman have to go a long way to achieve equal rights and position because traditions are deep rooted in Indian society where the sociological set up has been a male dominated one. Despite all the social hurdles, Indian women stand tall from the rest of the crowd and are applauded for their achievements in their respective field. Women are hardworking and self Confident. Women entrepreneurship development is an essential part of human resource development. The development of women entrepreneurship is very low in India, especially in the rural areas. Entrepreneurship amongst women has been a recent concern. Women have become aware of their existence their rights and their work situation. Women entrepreneurs have to face so many challenges and problems due to external environment. However, women of middle class are not too eager to alter their role in fear of social backlash. The progress is more visible among upper class families in urban cities. This paper focuses on women entrepreneur. Any understanding of Indian women, of their identity, and especially of their role taking and breaking new paths, will be incomplete without a walk down the corridors of Indian history where women have lived and internalized various role models. The paper talks about the status of women entrepreneurs and the problems faced by them when they ventured out to carve their own niche in the competitive world of business environment. Introduction Women constitute around half of the total world population. They are therefore regarded as the better half of the society. In traditional societies, they were confined to the four walls of houses performing household activities. In modern societies they have come out of the four walls to participate in all sorts of activities. The global evidences prove that women have been performing exceedingly well in different spheres of activities like academics, politics, administration, social work and so on. Now they have started plunging into industry also and running their enterprises successfully. Therefore while discussing on entrepreneurial development of women entrepreneurs in the country. Al through small businesses owned by women have traditionally focused on fashion, fond and other services sector, but recently women entrepreneurs have been moving rapidly into manufacturing, construction and other industrial filed. Women owned business are lightly increasing in the economics of almost all countries. The hidden entrepreneurial potential of women has gradually been changing with the growing sensivity to the role and economic status in the society. It means women have the potentials, skill, knowledge and adaptability to run a business successfully. Meaning and definitions Women entrepreneur refers equally to someone who has started a one women business to someone who is a principal in family business or partnership or to someone who is shareholder in a public company which she runs.

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The Government of India has defined a women entrepreneur is an enterprise owned and controlled by a women having a minimum financial interest of 51% of the capital and giving at least 51% of the employment generated in the enterprise to women . The problems of Women Entrepreneur in India Women entrepreneurs face a series of problems right from the beginning till the enterprise functions. Being a woman itself poses various problems to a woman entrepreneur, the problem of Indian women pertains to her responsibility towards family, society and lion work. The tradition, customs, socio cultural values, ethics, motherhood subordinates to ling husband and men, physically weak, hard work areas, feeling of insecurity, cannot be tough etc are some peculiar problems that the Indian women are coming across while they jump into entrepreneurship. Women in rural areas have to suffer still further. They face tough resistance from men. They are considered as helpers. The attitude of society towards her and constraints in which she has to live and work are not very conducive. Women Entrepreneurs encounter two sets of problems i.e. general problems entrepreneurs and problems specific to women entrepreneurs. These are discussed follows. 1. Family ties Women in India are very emotionally attached to their families. They are supposed to attend to all the domestic work, to look after the children and other members of the family. They are over burden with family responsibilities like extra attention to husband, children and in laws which take away a lots of their time and energy. 2. Problem of Finance Finance is regarded as life blood for any enterprise be in big or small. However women entrepreneurs suffer from shortage of finance on two counts. Firstly women do not generally have property on their names to use them as collateral for obtaining funds from external sources. So that access to the external sources funds is limited. Secondly the banks also consider women less credit-worthy and discourage women barrowers on belief that they can at any time leave their business. 3. Male dominated Society The constitution of India speaks of equality between sexes. But in practice women are Looked upon as abla i.e. Weak in all respects. In male dominated Indian society, women are not treated equal to men. This turn serves as a barrier to women entry into business. 4. Lack of Education In India around 60% of women are still illiterate. Illiteracy is the root cause of socioeconomic problem. Due to the lack of education women are not aware of business, technology and market knowledge. Also lack of education causes low achievement motivation among women. 5. Market Oriented Risk A number of women have to face the challenges of market because of stiff competition. Many business women find it difficult to capture the market and compete with their product. They are not fully aware of the changing market conditions.

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6. Lack of Confidence Women lack confidence in their strength and competence. The family members and the society and reluctant to stand beside their entrepreneurial growth. 7. Training Programs Training programs are essential to new rural and young entrepreneurs who wish to set up a small and medium scale unit. The programs enrich the skill and potential of women entrepreneur. 8. High cost of production Several factors including inefficient management contribute to the high cost of production which stands as a stumbling block before women entrepreneurs. Women entrepreneurs face technology obsolescence due to non-adoption or slow adoption to changing technology which is a major factor of high cost of production. 9. Low risk-bearing capacity Women in India are by nature weak, shy and mild. They cannot bear the amount risk which is essential for running an enterprise. Lack of education, training and financial support from outsides also reduce their ability to bear the risk involved in an enterprises. 10. Limited mobility Women mobility in India is highly limited and has become a problem due to traditional values and inability to drive vehicles. Moving alone and asking for a room to stay out in the night for business purposes are still looked upon with suspicious eyes. Sometimes, younger women feel uncomfortable in dealing with men who show extra interest in them than work related aspects. 11. Lack of entrepreneurial aptitude Lack of entrepreneurial aptitude is a matter of concern for women entrepreneurs. They have no entrepreneurial bent of mind. Even after attending various training programmes on entrepreneur ship women entrepreneurs fail to tide over the risks and troubles that may come up in an organizational working. 12. Limited managerial ability Management has become a specialised job which only efficient managers perform. Women entrepreneurs are not efficient in managerial functions like planning, organising, controlling, coordinating, staffing, directing, motivating etc. of an enterprise. Therefore, less and limited managerial ability of women has become a problem for them to run the enterprise successfully. 13. Legal formalities Fulfilling the legal formalities required for running an enterprise becomes an upheaval task on the part of an women entrepreneur because of the prevalence of corrupt practices in government offices and procedural delays for various licenses, electricity, water and shed allotments. In such situations women entrepreneurs find it hard to concentrate on the smooth working of the enterprise. 14. Exploitation by middle men

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Since women cannot run around for marketing, distribution and money collection, they have to depend on middle men for the above activities. Middle men tend to exploit them in the guise of helping. They add their own profit margin which results in less sales and lesser profit. 15. Lack of self confidence Women entrepreneurs because of their inherent nature, lack of self-confidence which is essentially a motivating factor in running an enterprise successfully. They have to strive hard to strike a balance between managing a family and managing an enterprise. Sometimes she has to sacrifice her entrepreneurial urge in order to strike a balance between the two. Present Position of Women Entrepreneurs Out of the total 940-48 million people in India in the 1990s of the female comprise of 465% of the total population. There are 126.48 million women work force (representing 28.9% of the female population) but as per the 1991 census only 185900 women accounting for only 4.5% of total self employed persons in the country were recorded. Majority of them are engaged in the un organized in the unorganized sectors like agriculture, agro based industries, handicrafts, handloom and cottage based industries. As per the 2001census report, there are of women workers of the total working population including formal as well as informal sector. In the era of L.P.G (Liberalization, Privatization, Globalization) the Indian women entrepreneurs are very fast entering the non traditional sectors. Which indeed is in response to their greater awareness. Schemes for Women Entrepreneurs Seed Capital Scheme National Equity Fund Prime Ministers Employment Guarantee Scheme Single Window Scheme. Bank Schemes for Women Entrepreneur Mahila Artik Vikas Mahamandal Women Entrepreneurship in India-2008-09 States No of Units Registered Tamil Nadu 9618 Uttar Pradesh Kerala Punjab Maharastra Gujrat Karnatka 7980 5487 4791 4339 3872 3822

No. of Women Entrepreneurs 2930 3180 2135 1618 1394 1538 1026

Percentage % 30.36 39.84 38.91 33.77 32.12 39.72 26.84

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Madhya Pradesh 2967 Other States & UTS 14576 Source: Economic Survey 2008-09 Women Corporate In Industrial Sectors - 2008-09 Sl. No Industry 1 2 3 4 5 6 7 8 Transportation and Warehousing

842 4185

28.38 28.71

Percentage of Women Corporate 15.1% 14.6% 14.0% 13.5% 13.3% 12.4% 11.8% 10.0%

Agriculture Forestry Fishing and Hunting Whole Sale Trade Mining and Oil and Gas Extraction Manufacturing Management of Companies Real Estate and Rental and Leasing Administrative Support and Waste Management Remediation Service Source: Economic Survey 2008-09

Suggestion to Develop Women Entrepreneurs Right efforts on from all areas are required in the development of women entrepreneurs and their greater participation in the entrepreneurial activities. Following efforts can be taken into account for effective development of women entrepreneurs. Consider women as specific target group for all developmental programmers. Better educational facilities and schemes should be extended to women folk from government part. Adequate training programmed on management skills to be provided to women community. Encourage women's participation in decision-making. Vocational training to be extended to women community that enables them to understand the production process and production management. Skill development to be done in women's polytechnics and industrial training institutes Skills are put to work in training-cum-production workshops. Training on professional competence and leadership skill to be extended to women entrepreneurs. Training and counseling on a large scale of existing women entrepreneurs to remove psychological causes like lack of self-confidence and fear of success. Counseling through the aid of committed NGOs, psychologists, managerial experts and technical personnel should be provided to existing and emerging women entrepreneurs. Continuous monitoring and improvement of training programmers. Activities in which women are trained should focus on their marketability and profitability. Making provision of marketing and sales assistance from government part. To encourage more passive women entrepreneurs the Women training programmed should be organized that taught to recognize her own psychological needs and express them.

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State finance corporations and financing institutions should permit by statute to extend purely trade related finance to women entrepreneurs. Women's development corporations have to gain access to open-ended financing. The financial institutions should provide more working capital assistance both for small scale venture and large scale ventures. Making provision of micro credit system and enterprise credit system to the women entrepreneurs at local level. Repeated gender sensitization programmes should be held to train financiers to treat women with dignity and respect as persons in their own right. Infrastructure, in the form of industrial plots and sheds, to set up industries is to be provided by state run agencies. Industrial estates could also provide marketing outlets for the display and sale of products made by women. A Women Entrepreneur's Guidance Cell set up to handle the various problems of women entrepreneurs all over the state. District Industries Centres and Single Window Agencies should make use of assisting women in their trade and business guidance. Programmes for encouraging entrepreneurship among women are to be extended at local level. Training in entrepreneurial attitudes should start at the high school level through well-designed courses, which build confidence through behavioral games. More governmental schemes to motivate women entrepreneurs to engage in small scale and large-scale business ventures. .Involvement of Non Governmental Organisations in women entrepreneurial training programmes and counseling.

Conclusion It can be said that today we are in a better position wherein women participation in the field of entrepreneurship is increasing at a considerable rate. Efforts are being taken at the economy as brought promise of equality of opportunity in all spheres to the Indian women and laws guaranteed equal rights of participation in political process and equal opportunities and rights in education and employment were enacted. But unfortunately, the government sponsored development activities have benefited only a small section of women i.e. the urban middle class women. Entrepreneurship among women, no doubt improves the wealth of the nation in general and of the family in particular. Women today are more willing to take up activities that were once considered the preserve of men, and have proved that they are second to no one with respect to contribution to the growth of the economy. Women entrepreneurship must be moulded properly with entrepreneurial traits and skills to meet the changes in trends, challenges global markets and also be competent enough to sustain and strive for excellence in the entrepreneurial arena. References 1. Source from www. Wikipedia.com 2. Rajendran N (2003) , "Problems and prospects of women Entrepreneurs" SEDME. 3. Sharma Sheetal (2006) " Educated Women , powered, women" Yojana Vol.50, No.12 4. Dhameja S K (2002) , Women Entrepreneurs : Opportunities, performance, problems. 5. Jose P., Ajith Kumar. & Paul T.M., (1994) Entrepreneurship Development, Himalaya Publishing. 6. Medha Dubhashi Vinze (1987) Women Entrepreneurs In India: A Socio-Economic Study

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of Delhi - 1975-76, Mittal Publications, New Delhi. 7. Renuka V. (2001) Opportunities and challenges for women in business, India Together, Online Report, Civil Society Information Exchange Pvt. Ltd. 8. Women Entrepreneurs: Opportunities, Performance and Problems, Deep Publisher (P) Ltd., New Delhi. 9. Baporikar, N. (2007) Entrepreneurship Development & Project ManagementHimalaya Publication House.

VENDOR RATING A CASE STUDY

GOVINDA BHAT S, Head (Department Of Management Studies) Adi Shankara Institute Of Engineering & Technology, Kalady ABSTRACT This is a real life story happened in an engineering industry owned by Kerala state Government. The company was engaged in the manufacture of power tillers used for agrarian purposes. Production dislocation was there due to material shortage. The company did not establish a strong vendor base. In the late nineties, the company decided to go for ISO 9002 certification & bagged the same in the year 1997. Accordingly one important decision taken was to introduce Vendor Rating. The Vendee (Organization) used to evaluate the performance of its vendors based on certain criteria. The main factors were quality & delivery reliability. Price was not a factor for obvious reasons. Other auxiliary factors were acceptance with rectification, acceptance with deviation, non-conformance in respect of preservation, packing, self inspection report, vendor identification mark etc. Based on the rating, the vendors were graded as A grade (high performing), B grade (medium performing) & C grade (low performing) with specified cut of marks. Incentives were provided for A grade vendors & other category vendors were motivated to fall into A grade. Best Vendor award was instituted. Vendor meets became strong platforms for meaningful exchange of ideas. In some cases professional relations turned into personal relations which helped both the vendor & the organization as well. In fact strong vendor relations & thereby a strong vendor base was established which was of mutual benefit. Only the approved vendors supplying regular inventory were considered for rating. The components were similar to that of any mechanical engineering industry/auto industry components. Key Words: - Quality, Delivery Reliability, Grading of Vendors, Vendor Meet, Best Vendor Award & Vendor Relations. INTRODUCTION This paper throws light on the circumstances that led to install a Vendor rating system in an engineering industry under Kerala state Government engaged in the manufacturing of agricultural machineries & implements. The paper also deliberates on the methodology & various parameters used for the rating, subsequent grading of vendors, support provided by the organization to the vendors, support received by the organization from the vendors, the introduction of vendor meets & installation of best vendor award. Finally paper concludes with how the company could establish strong vendor relations & the fruits delivered out of such bonding. The name of the company is kept secret for clear reasons.

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WHY VENDOR RATING? The production stoppage was a regular refrain in the early & mid nineties. The main culprit was material shortage. Material Shortage Report became a buzz word in the company. A professional group took the reins of the company in the mid nineties. The top management decided to go for ISO 9002: 1994 certification at that time. Accordingly a top notch consultant from Bengaluru was appointed as consultant for the purpose. They opined that production dislocation is mainly because of material shortage & material scarcity should come to an end. The suggestion came in the form of creating a separate Vendor Development Cell for developing new quality vendors for critical items & weeding out prevailing non performing vendors. Thus it was decided to introduce Vendor rating for all approved vendors. The aim was to replace the consistently non performing vendors by new quality vendors and also to provide chance for those vendors to prove their merit. METHODOLOGY OF VENDOR RATING The vendor development cell took care of developing new & quality vendors as per the requirement of the company. All the approved vendors were informed of the rating procedure & the consequences through a briefing session. The technique used was Weighted Point System. The two important parameters used were quality & delivery reliability. Accordingly two measures were defined as follows. Quantity accepted Acceptance ratio = . * 50 Quantity inspected Vendor rating was a quarterly affair. The acceptance ratio was calculated by Quality Assurance Department based on the inward inspection reports. The rating was applicable to those approved vendors who supply components meant for the manufacturing of the final product. The components were very similar to that of automobile industries. The ratio was calculated for each & every lot/supply. Quantity accepted means direct acceptance without any rectification or deviation. The weight age factor was 50. The payment to vendor was effected to accepted quantity only. Quantity delivered Delivery ratio = ..*50 Quantity scheduled Quantity delivered means quantity that actually reached company premises. Quantity scheduled was the quantity as per purchase order. This was calculated by the Purchase department. Again the weight age factor was 50. That means equal importance was given to quality & delivery reliability. Penalty was awarded for not adhering to quantity by deducting 10% of the value of the unsupplied quantity from the total value of that supply. The company was maintaining a fixed price for each & every component. Only those vendors who could supply at that price were considered from the preliminary stage itself. This is because of restrictions being a government company. Hence price was not a factor in the rating process. Other factors considered were as follows. 1. Acceptance with deviation 2. Acceptance after rectification 3. 100% inspection & acceptance 4. Not furnishing self inspection report

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5. Not providing vendor identification mark 6. Not adhering to required packing conditions 7. Not adhering to specific preservation methods 8. Line/Assembly rejections Even though there was no direct measure of the above factors, negative marks were awarded in case of default as follows. Supply used to come with slight deviations from specifications once in a while. In such cases, if sufficient stock was not there, the matter was referred to the Material Review Board which consists of heads of Production, Purchase & Quality Assurance departments. If the deviations were not serious enough to eat upon the quality of the final product, a joint decision was taken to accept the material if other things were fine. Appropriate amount was deducted wherever possible & 10 marks were also deducted as penalty. One example was a covering plate of 5mm thick was required as per original specifications. At that time, in the market, only 4mm thick plate was available. This deviation was not serious enough to adversely affect the quality of final product. Hence a lenient view was taken as a onetime acceptance. Similarly supply used to come without proper finishing operations for which rectification was to be done further. For example, once a supply came without proper reaming of the hole. So reaming was done at the companys rectification yard as the item was very urgent. The cost of reaming was deducted from the payment & again 10 marks were deducted from the rating. Sometimes acceptance sampling would lead to total rejection of lot & line held up. Hence the solution was to switch over to cent percent inspection & segregate accepted & rejected items. This resulted in increased cost of inspection. Again a penalty of 10 marks was awarded in such cases per instance. Similarly not furnishing self inspection report along with the supply, not putting vendor identification mark on each & every piece of the lot, not adhering to packaging conditions such as protecting threaded portions by putting plastic caps, packing small rubber items in the lot of 100 numbers in plastic covers etc, not adhering to preservation methods such blackening corrosive items, painting sheet metal/fabricated items etc. called for a penalty of 5 marks each per instance coupled with deduction of amount from the payment wherever possible. Inspectors were given the authority to reject the lots in all such cases provided sufficient stock was available. Even after clearance given by Quality Assurance, Rejections were there during assembly. These were known as line rejections. In between line damages were also there. However Quality Assurance Departments decision was final in this matter. Company used to bear the cost of damages. The upper limit of line rejection was 1 %( by volume) per item per quarter. If the rejections crossed the limit, 15 marks were reduced & the amount was recovered from the next supply. Moreover receiving inspection on such vendors was tightened. The acceptance ratio & the delivery ratio were summed up & appropriate negative marks were applied to arrive at overall vendor performance rating. GRADING OF VENDORS

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The vendors were graded as follows. Overall vendor rating 90% & above A grade Overall vendor rating 70 89% - B grade Overall vendor rating 50 69% - C grade At the time of introduction of the rating system, out of nearly 80 approved vendors (for 1000 plus components), 20 were in the A category, 10 in the C category & 50 in the B category. Incentives were given to A grade vendors in the form of freely calibrating their instruments in the companys calibration cell, relaxing the payment terms during special occasions etc. This served as motivation to B grade vendors. They improved the quality of the service & within a short span of time, nearly fifty percent of B category jumped to A grade. Out of 10 C grade, eight jumped to B grade in the short run. Company introduced a system of deleting & blacklisting vendors depending on the intensity of default. Even after giving support & sufficient time, if performance level was still dismal, the vendor was deleted from the list. It was not serious & of temporary nature. A re-entry was possible. If default amounted to cheating the company in any way, which resulted in blacklisting of the vendor & re-entry was almost nil. CONCLUSION Vendor rating in the company paved the way for some radical changes. This was a comprehensive rating mechanism based on objective evidence. The weighted point system is approved method for Mechanical Engineering Industries. The company accorded equal importance to both quality of incoming items & delivery reliability of the components. Service rating was not considered as a direct measure but taken as a supporting factor. This was a quarterly affair & the vendors were informed of their performance accordingly. Vendors got an opportunity to see where they stand in terms of their performance. Most of them took this seriously, strived hard to rise to the occasion & to foster a long term business relationship of mutual benefit. We have little heard of vendor friendly concept in India & let us hope that it will pick up fast in our country. REFERENCES: 1. Prof. Govinda Bhat S Vendor Management Model A Case Study. 2. H A Mandave & P M Khodke Vendor Rating: A Tool for Quality in Supply Chain Management. 3. Quality Manual of the Company. 4. Quality System Procedure of the Company.

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SOCIAL ENTREPRENEURSHIP & CORPORATE SOCIAL RESPONSIBILITIES

U.DHANALAKSHMI, Research Scholar, Lecturer, M.P.N.M.J. Engineering College, Chennimalai. T.S.Janani, Research Scholar, Bharathiar University, Coimbatore. D.Hamsaveni, II MBA, M.P.N.M.J Engineering College, Chennimalai. ABSTRACT A corporate social entrepreneur (CSE) is defined as "an employee of the firm who operates in a socially entrepreneurial manner; identifying opportunities for and/ or championing socially responsible activity; in addition to helping the firm achieve its business targets. The CSE operates regardless of an organizational context that is pre-disposed towards CSR. It can be assumed that the attitude towards entrepreneurial social responsibility especially depends on the type of business ownership (family business or non-family business). The combination of family and company ownership results in singular structure characteristics with a positive impact on a sustainable company leadership which takes into account economic as well as social and ecological aspects (Scherer, Blanc, Kormann, Groth & Wimmer 2005). For family businesses, taking over socio-economic responsibility is an integral part of good economic activity (Von Passavant 2009). This article emphasizes the meaning of social entrepreneurship and that of corporate social responsibility and the role held in social value creating process. There are several opinions regarding the distinctions between social entrepreneurship and corporate social responsibility considering the implications, the impact and the stimulus. This article will point out our approach regarding Social Entrepreneurship and Corporate Social Responsibility. KEYWORDS: CSR, Social Entrepreneurship, social impacts, entrepreneurship. INTRODUCTION: SOCIAL ENTREPRENEURSHIP: Even if there are major differences between social entrepreneurship and CSR we can say that both of them have a significant role trough social value creation process. This research paper underlines how social value can be amplified trough collaborations and partnerships established between firms and social mission organizations. Social entrepreneurship is addressed to social problems caused by the failure of public institutions in addressing social needs (Hartigan & Bilimoria, 2005). Some definitions limit social entrepreneurship to nonprofit organizations (Lasprogata & Cotton, 2003), while others describe social entrepreneurship as for-profit companies operated by nonprofit organizations (Wallace, 1999), or organizations that create a firm at a financial loss (Baron, 2007). Still others equate social entrepreneurship to philanthropy (Ostrander, 2007), while some scholars embrace broader definitions that relate social entrepreneurship to individuals or organizations engaged in entrepreneurial activities with a social goal (Certo & Miller, 2008; Van de Ven, Sapienza & Villanueva, 2007; GEM, 2009). Social entrepreneurship is a process that can provide viable solutions to problems with the purpose to improve access to social services, health education and local labor exploitation, reducing all forms of discrimination by providing jobs to people in need (Borza et all, 2009). In Romania, social entrepreneurship (social economy) is the generic term used to refer to a group of people gathered to assume an active economic role in the process of social inclusion, e.g. social enterprises, NGOs (foundations and associations) and other nonprofit organizations that have an important role

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in management and strengthening activities (Definition of Ministry of Labor, Family and Social Solidarity). CORPORATE SOCIAL RESPONSIBILITY: Corporate Social Responsibility (CSR) brings many benefits and can be considered as an important lever in supporting social entrepreneurship (Austin 2007, Austin et all, 2006, Austin, et al., 2004, Austin & Reavis 2002, Austin, 2000). CSR implies commitment to improve the society through business practices (Kotler & Lee, 2005). The approach given by the International Business Forum (2003) assumes that corporate social involvement means the investment in established partnerships with non-profit and public sector in order to create healthy and favorable conditions, targeting both the community needs and objectives of the business. CSR policies help the firm to fulfill the economic and social responsibilities to ensure the wellbeing of the firm and also its the social welfare (Hockerts, 2007). CSR implies commitment to improve the society through business practices (Kotler & Lee, 2005). Companies that deal with their social responsibility in a forward-looking manner ensure that CSR becomes an integral aspect of their corporate governance (Brteanu et all, 2011:87) A community of highly successful social entrepreneurs who are all challenged to a greater or lesser extent by the fact that other sectors have not caught up with the field of social entrepreneurship. These challenges are: 1. The first challenge has to do with governments. The majority of them have yet to recognize social entrepreneurship as a legitimate field of endeavor. This recognition is the sine qua non for finding ways to promote it through fiscal and legislative incentives, including the review of tax laws, the elimination of burdensome regulations, arbitrary decision-making and other onerous requirements and inefficient practices that hamper social entrepreneurs. 2. The second challenge is to encourage businesses to discover the competitive advantages offered by working in partnership with social entrepreneurs. From a financial perspective, reaching untapped markets can be greatly facilitated by linking with social entrepreneurs who have spent decades designing, implementing and refining innovative ways of bringing previously excluded groups into the marketplace. From a human resources perspective, the ability to attract top talent is a major challenge for companies. But the best and the brightest today are looking for more than impressive salaries and stock options. They want something more something that gives meaning to their work and their lives. Supporting social entrepreneurs in different ways shows that companies care about more than the bottom line. Finally, corporate social responsibility is not about setting up separate corporate foundations to reach excluded populations through top down programs that compete with social entrepreneurs. Nor is corporate social responsibility about relegating the social work to the corporate foundation while the corporation carries on its business as usual. Working with social entrepreneurs should be part of the core business strategy of every company. 3. The third challenge for social entrepreneurs relates to foundations and philanthropists who should be the ones catalyzing social transformation by supporting the social innovators. Foundations and high net worth individuals are certainly well placed to engage in that process, as they are free of two forces that dominate the decisions of governments and business respectively the voting booth and the financial bottom line. But many foundations and philanthropists seem content to fund demonstration projects that they hope will produce dramatic results in 24 months.

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4. Then there are multilateral and bilateral organizations. Over the last decade there has been a strong call for their reform to render these organizations better equipped to respond to the challenges of the 21st century. Strong criticism has been leveled at multilateral financial institutions, particularly those responsible for finance, development and trade, for their failure to engage civil society and interest groups in consultations on their policies. Some institutions have responded by devoting time and energy to dialogue with non-state actors. But more needs to be done. They should embrace risk as a key opportunity for global renewal, and make it a priority to spot and legitimize those who have the capacity to imagine and the ability to implement what they imagine through disciplined innovation. 5. The academic sector, too, presents a challenge for social entrepreneurship. No doubt there have been important strides, particularly in the context of university education. But we are barely scratching the surface of instilling entrepreneurial thinking in students from a young age. And while we all know that entrepreneurship is not something to be learned out of a book, it must be cultivated. The entrepreneurial mindset has been described by the following six characteristics: commitment and determination; leadership; opportunity obsession; tolerance of risk, ambiguity and uncertainty, creativity; self-reliance and ability to adapt; and motivation to excel. Finally, social entrepreneurs must work together to build the field through the establishment of a professional esprit de corps that moves them beyond their own goals and initiatives to a larger common purpose one that is none other than working across sectors to create the renewed institutions that can respond to the unprecedented global challenges. ARGUMENTS FOR INCLUDING DISABILITY IN CSR In recent years CSR is increasingly becoming a part of a large number of companies. It is becoming an important activity for businesses throughout the globe. Basically, CSR means that a company's business model should be socially responsible and environmentally sustainable. By socially responsible, it means that the company's activities should benefit the society and by environmentally sustainable it means that the activities of the company should not harm the environment. But currently what we can see is that there is an outburst of enthusiasm for environmental causes only. For example, controlling pollution, global warming, deforestation, mitigate carbon emissions, etc. Whereas it can be said that the same enthusiasm is not seen for social welfare. This is because most of the social welfare activities of the companies contribute to the welfare of us able bodied people but do not take into account the disabled people who are also a part of the society in which the company exists and who amount to at least 10% of the population. Therefore, disability must be made a part of CSR policies of the companies and people with disabilities must be allowed to become stakeholders. There should be non-discrimination or diversity management awareness-raising and training for employees in the companies that include disability treatment. They should include the disability factor in employment/HR indicators (age distribution, gender, contract type, professional categories and/or activity areas, rotation) so that the situation of people with disabilities can be compared with that of other employees. The companies should take into account the characteristics of people with disabilities when managing human resources (recruitment, selection, contracting and induction, promotion, training, prevention of risks at work). Customer care staff training should be carried out by the companies aimed at

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guaranteeing appropriate treatment of people with disabilities. They should have a policy or directive aimed at considering or favouring suppliers and subcontractors that employ people with disabilities, including Sheltered Workshops. Thus, carrying out business practice which includes disabled people will help improve the company's reputation and image in an increasingly competitive environment. Finally, disability is one of the factors that can contribute to "Diversity" and Diversity is a rising value within companies management. However, disability is often pushed behind in favour of other diversity criteria, thus disability needs to be specifically included within the CSR. SOURCES OF ENTREPRENEURIAL INTENT:
Source of Entrepreneurial Activity Life Experiences Impact on the Pool of Potential Entrepreneurs Decrease (difficult to alter as experiences accumulate over the life span) Decrease (reflects prevailing social conditions that may change) Decrease (identity and motivation are often established in childhood, but may be changeable with opportunity, and incentives) Increase (can be illustrated, simulated, taught, and rehearsed) Increase (can be identified and altered, but may be essential at different stages of entrepreneurial activity) Increase (can be illustrated, simulated, taught and rehearsed) Impact on Spread of SociallyEntrepreneurial Activity High (depends on size of initial pool of individuals with needed experiences) High (depends on size of initial pool with requisite demographic experience) High (depends on size of initial pool with requisite intent)

Demographic Differences

Entrepreneurial Intent

Tactics and Strategies Cognitive Biases

Moderate (depends on access to education and training) Moderate (depends on access to education and training, and avoidance of unintended consequences of reducing risk taking) Low (depends on access to education and training)

Idea-Management Skills

CONCLUSIONS Social entrepreneurship is a viable alternative that can cover various forms of organizations, but in our opinion NGOs with social mission provide the premises to sustain social entrepreneurship. Starting from general assumptions, which consists the basis of our research, we concluded that social entrepreneurship is a process that can be identified in the current social environment of the County and that it is manifested mainly in the form of independent organizations wishing to implement innovative practices which allows solving social problems. NGOs and companies create social values using different approach, but we consider that a grater impact will be achieved if these will be inter-correlated, establishing a cause effect manifestation, which increases economical and social performances in both cases. Even if we observed that for most companies philanthropic collaboration is preferred mainly because is the simplest type of collaboration due to the resources and benefits involved, there are some companies, very few, that prefer complex forms of collaborations.

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Based on these researches we conclude that NGOs have better chances to promote social entrepreneurship starting with the fact that these have first of all a social mission. Also we can say that social entrepreneurship can be sustained by the companies through CSR (partnership, collaboration, founding an organization with a social mission). Corporate social responsibility and social entrepreneurship have distinct conceptual approach, but interferes in the area of recovery of social opportunities. REFERENCES Austin, J. E., Skillern, J. W., Leonard, H., & Steverson, H. (2007). Entrepreneurship In The Social Sector, California:Sage Publications. Austin, J., Gutierrez, R., Ogliastri, E., & Reffricco, E. (2006). Effective Management of Social Enterprises. Lessons from Business & Civil Society Organizations in Iberoamerica, Harvard University Press. Austin, J. E., Jane W. - S., & Alexis, G.. (2004). Starbucks & Conservation International. Teaching Note, 304-100, Harvard Business School, Division of Research, Boston. Austin, J. E., & Cate, R. (2002). Starbucks & Conservation International. Teaching Case, 303-055, Harvard Business School, Division of Research, Boston. Austin, J. E. (2000). The Collaboration Challenge How Nonprofit & Businesses Succeed Trough Strategic Alliances. London: Peter Druker Foundation. Bornstein, D. (2007). How to Change the World Social Entrepreneurs & the Power of new Ideas. Bornstein, D. (2005). How to Change the World: Social Entrepreneurs & the Power of New Ideas. Penguin Books: New Delhi, India. Borza, A., Mitra, C., & Bordean, O. (2009). Social Entrepreneurship in the Context of the Romanian Transitional Economy, in Complexity Science & Social Entrepreneurship Adding Social Value through Systems Thinking A Volume in the Exploring Organizational Complexity Series Volume 3, New York.

ENTREPRENEURSHIP FAILURES
S.MUTHU KALEESWARAN, CEO, Vijaya Foundations, Trichy V.SRUTHI, PRO, Vijaya Foundations, Trichy ABSTRACT It is better to predict a pertinent solution for a problem than attempting to solve it after facing the greatest disaster. Entrepreneurship is a process through which folks identify opportunities, allocate wherewithal and create value. This conception of value is often through the identification of unmet needs or through the identification of opportunities for change. This involves many strategies like Energy, motivation, patience, perseverance, Ability to identify opportunities, Ability to take risks, Leadership ability, Ability to plan and organize and Ability to adapt to changes. An entrepreneur failing in these aspects fails in all his endeavours. The main reasons for entrepreneurship failures are: Survival Driven, Inadequate Knowledge, Lack of Focus, Risk-Averse, Lack of Vision, Extravagance and Insecurity. In addition to these there is another fact involved in the entrepreneurship failure namely improper planning of the routine activities. Improper prioritization is also one of the rationale of entrepreneurship failures. As it is one of the major aspects in maintaining amiable relationship with the customers as well as employees. Even inadequate motivation in the form of providing insufficient incentives or awarding some rewards might be a reason.

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Extraneous recruitment may also be one of the reasons for failure. Improper team building is also a reason for entrepreneurship failure. Since the team coordination determines the success of an organization. Hence considering these aspects is mandatory for predicting the entrepreneurship crash. INTRODUCTION There is a saying called Failure is the stepping stone to Success. This is the real fact in the case of many successful entrepreneurs if we go through their biographies. The iconic entrepreneurs who experienced failure in their entrepreneurship include Bill gates and Colonel Sander. They were not very much affected by their failures but only learnt the new alternative ways to succeed in their entrepreneurship. Hence we need to expect the day for success after encountering the irksome failure.

Fig1: Failure is the stepping stone to Success TRAF-O-DATA Bill Gates will forever be remembered for starting Microsoft, but this was actually not his first business venture. Prior to founding the software giant behind Windows, Gates headed up a company called Traf-O-Data. Gates and his partners wanted to build a computerized machine for processing paper tapes from traffic counters, those black hoses most of us have driven over on roads throughout the United States. They then planned to sell this computerized data to state and local governments, but failed because the product was unacceptably buggy. This gave a new idea to this legend on the newer approaches to succeed in his business and laid foundation for Microsoft.

Fig2: Microsoft AKIO MORITA & RICE COOKERS Today, we know Sony as a digital electronics powerhouse. But the company was considerably low-tech in the early days, as shown by founder Akio Moritas foray into selling rice cookers. The problem explained is that the rice cooker basically burnt more rice than it cooked. Calling it a primitive product, SonyInsider goes on to note that tasty rice was a rarity and the project became a memorable failure for Morito and partner Masaru Ibuka. Ultimately, fewer than 100 units were sold to the public. Morito and Ibukas hard-fought wisdom from the rice cooker project was to fail quickly and fail cheap. Had these men stubbornly clung to a poorly executed product idea, they might never have tackled the far more rewarding task of building electronics empire.

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Fig 3: Sony KFCS SECRET RECIPE Harland David Sanders (better known as Colonel Sanders) endured some of the harshest early failures of all. Despite having what we now know is an undeniably popular chicken recipe; no one wanted it at first. In fact, Sanders endured over 1,000 rejections before finally finding a restaurant that was willing to work with him. Early on, KFC says, Colonel Sanders literally carried the secret spice mixture with him in his car in search of business partners.

Fig 4: KFC HENRY FORD & DETROIT AUTOMOBILE CO. Its hard to think of Henry Ford as anything other than a smashing success in the automobile industry. Early on, though, he was anything but. Fords first company Detroit Automobile Company went out of business in 1901 amid customer complaints of high prices and low quality, according to Newsweek. Henry Ford Company (founded one year later) was abandoned due to a fight with his partner, while a third company nearly collapsed from low sales numbers.

Fig5: Ford R.H. MACY & HIS FIRST FOUR STORES R.H. Macy was hardly an instant success in retail. In fact, the first four store locations that he opened were abject failures (including the first true Macys store in Massachusetts.) Between 1843-1855, every one of these dry goods stores died on the vine on poor consumer demand and lackluster sales totals.

Fig6: Macys LESSONS Blessed are the one who learns from others experience. In Business life success comes only after an intolerable failure. But this makes a man as successful one with all the required experience. If the entrepreneur is a novice then it is obvious that he needs to face the upcoming failure but the analysis of the entrepreneurship failures will help him to some extent.

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Fig6: Success from failure Hence failure leads to success indirectly. HAVING A THIRST FOR OPPORTUNITY The entrepreneur must have the thirst to find his opportunities in the environment he is. He should learn from everything and even from the nature. This Novice must utilize this opportunity well because opportunity knocks the door only once. It will be the apt time for him to deal with his business. STEPS FOR RECTIFYING THE FAILURES Analyzing the history of entrepreneurship failures Learning from past Optimistic View Intuition utilization Effective leader Team coordination CONCLUSION Thus we conclude that each failure, the entrepreneur experiences will lead to thousands of success in future. But the only important requirement is the patience of the entrepreneur till all his plans succeed.

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WOMEN ENTREPRENERUSHIP: ANALYTICAL VIEW SPECIAL REFERENCE TO COIMBATORE CITY

Dr. V. B. Usha, Professor & Head , PG & Research Department of Management Science, Parks College ( Autonomous ), Tirupur 5 Ms. K. Meenakshi, Assistant Professor in PG & Research Department of Management Science, Parks College ( Autonomous) Tirupur 5, Ms. K. Gayathri, M.Phil Research Scholar in Management, Parks College ( Autonomous) Tirupur 5, ABSTRACT You can tell the condition of nation by looking at the status of women - Jawaharlal Nehru Women entrepreneurs have become a strong driving force in todays corporate world. Women entrepreneurship is one of the most powerful and effective paths to global peace and prosperity. Woman constitutes the family, which leads to society and nation. Social and economic development of women is necessary for overall economic development of any society or a country. Women have achieved immense development in their state of mind and are an essential part of human resource. In traditional societies the entry of women into business in India is traced out as an extension of their kitchen activities, mainly 3Ps, Pickle, Powder and Pappad. But with the spread of education and passage of time women started shifting from 3Ps to modern 3Es i.e., Energy, Electronics and Engineering. Skill, knowledge and adaptability in business are the main reasons for women to emerge into business venture. The education and increased awareness influences women to spread their wings into different areas and shine like a star. With increase in dependency on service sector, many entrepreneurial opportunities especially for women have been created where they can excel their skills with maintaining balance in their home and their work life. Accordingly, during the last two decades, increasing numbers of Indian women have entered the field of entrepreneurship and also they are gradually changing the face of business of today, both literally and figuratively. Coimbatore district is one among the industrially developed and commercially vibrant districts of Tamil Nadu. There are various hindrances to women entrepreneur like economic factors, social factors, cultural factors, personal factors etc but women overcome all those obstacles that are affecting women entrepreneurship with their skills which is inbound. The challenges and opportunities provided to the women of digital era are growing rapidly that the job seekers are turning into job creators.The growth and development of women entrepreneurs required to be accelerated because entrepreneurial development is not possible without the participation of women. This paper focuses on the problems faced by women entrepreneurs in Coimbatore city and suitable suggestions were made by the researchers to overcome the challenges to face the competitive tomorrow. INTRODUCTION : Entrepreneurship development in Asian developing countries is currently an important issue related to economic development in the country. In the era of Liberalization, Privatization and Globalization along with ongoing IT revolution, todays world is changing at a surprising pace. These changes created economic opportunities for women who want to own and operate businesses. They have broken away from the beaten track and are exploring new avenues of economic participation. Entrepreneur has gained currency across the sphere and now women have been recognized as successful entrepreneurs as they have qualities desirable and relevant for entrepreneurship

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development. The economic status of the women is now accepted as an indicator of a stage of development and therefore it becomes imperative for the government to frame policies enhancing the rights, roles and opportunities of women, for their betterment in particular and society. In this dynamic world, women entrepreneurs are a significant part of the global expedition for sustained development and social progress. WOMEN ENTREPRENEUR: Women Entrepreneurship is an act of business ownership and business creation that empowers women economically, increases their economic strength as well as position in society. Hence women-entrepreneurs have been making a considerable impact in all most all the segments of the economy which is more than 25% of all kinds of business. Women Entrepreneurs are the women or a group of women who initiate, organize and operate a business enterprise. A woman who start a new enterprise, under take risk, introduce innovations, coordinate, administrate, supervision, proper leadership and control in all aspects of the business. A small scale industrial unit or industry related service or business enterprises, managed by one or more women entrepreneur in a concern , in which individually or jointly have a share capital of not less than 51% as partners, shareholders/ directors of the private limited company, members of cooperative society. The women entrepreneurs have their own identity in the world of entrepreneurship. Most of them are capable of fully identifying themselves in their new economic role in society. Women entrepreneurs explore the prospects of starting a new enterprises, undertake risks, introduction of new innovations, coordinate administration & control of business & providing effective leadership in all aspects of business and have proved their footage in the male dominated business arena. Push and pull factors which encourage women to have an independent occupation. Push Factors Death of the bread winner Sudden fall in family income Permanent inadequacy in income of the family Family compulsion Pull Factors Womens desire to evaluate their talent To utilize their free time or education Need and perception of womens identity , equity etc. To gain recognition, importance and social status To get economic independence WOMEN ENTREPRENUERS IN COIMBATORE DISTRICT Coimbatore District is the second most industrialized district in the state, also known as the Manchester of South India for its development in the textile Industry. Industrialization in this district started at an early time; traced back to the early 1920s. Coimbatore District is, one among the industrially developed and commercially vibrant districts of TamilNadu. It has got a high concentration of Small Scale, Medium and Large-scale industries. It is an important inland district lying in the North Western part of TamilNadu and is the forerunners in Tamil Nadu as far as SSI are concerned. In Coimbatore District, women while establishing firm foothold in literary and social status seem yet to identify their role in entrepreneurship. District Industrial Center (DIC) data shows that as of 2010 the number of

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enterprises managed by women entrepreneurs was 7250, where the female population of the district being 20.96 lakhs in number, the percentage of women entrepreneurs are found to be very low. Today, we find women of Coimbatore District of Tamil Nadu in a variety of industries, traditional as well as non-traditional, such as engineering, readymade garments, fabrics, eateries, handicrafts, doll making, Poultry, diary farming, chemical industry, knitting, jewelers designing and the like. The motivation behind these women entrepreneurs has been an aspiration for a career in business. REASONS FOR WOMEN OPTING FOR ENTREPRENEURSHIP Innovative thinking , Self determination, expectation for recognition, self esteem, new challenges and opportunities for self fulfillment , employment generation, freedom to take own decision and be independent , Government policies and procedures, family occupation. need for additional income , bright future of their wards, success stories of friends and relatives, role model to others, support of family members, education and qualification , self identity , social status and career goal are the key drivers for taking up entrepreneurship by women. Sometimes, women chose such career path for discovering their inner potential, caliber in order to achieve self satisfaction. It can also provide a mean to make best use of their leisure hours. However, dismal economic conditions of the women arising out of unemployment in the family and divorce can compel women into entrepreneurial activities PROBLEMS OF WOMEN ENTREPRENEUR: Developing entrepreneurship especially women entrepreneur is constrained with several problems . The major hurdles that the women face during starting and running a company generally come from financing and balancing of life. The balancing of life is caused due to lack of family support for the women. The other hindering external factors include gender discrimination, inaccessibility to information, training opportunities, infrastructure etc. 1. Economic factors: The economic factors that affect the entrepreneur are financial instability, greater risk and uncertainty, non availability of skilled labours, increase in the factors of production, credit facility, etc. 2. Social Factors: The society should support the entrepreneur, their individual decisions and initiative. Political instability, insufficient data about business, inadequate infra structure, rigid Government policies, unfair competition, social attitude etc. are the problems faced by women. 3. Cultural Factors: Culture means a set of beliefs, values, norms followed by particular community or religion. The growth of the entrepreneur is not encouraged by considering the customs and beliefs. Cultural bias, caste is a major barrier for women. 4. Personality Factors : An entrepreneur should have the ability and willingness to take risk and introduce innovation in the business , adjust with attitudes and activities within the socio economic frame work. Personal problems faced by women include irrational decision making , fear, low mobility , lack of education ,inadequate family support, lack of leadership and motivation, lack of nutrition, lack of confident. The other problems are Problem of Finances arrangement:- Finance is said to be the life blood of every business undertaking, whether it may be large or medium or small scale enterprise. Usually women entrepreneurs face the problems of shortage of finance , their access to external sources is very limited .

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Scarcity of raw materials required for productive capacities:- They have to face the problems of scarcity of raw-materials and necessary inputs. On top of this, is the high prices of raw materials, on one hand and getting raw materials at minimum discount rates is the other. Cut-throat competition with other group of men and established self-sufficient entrepreneurs:- Women entrepreneurs do not have a proper organizational set-up to pump in a lot of money for canvassing and advertisements. Thus they have to face a stiff competition with the men entrepreneurs who easily involve in the promotion and development area and carry out easy marketing of their products with both the organized sector and their male counterparts. Family responsibilities, ties as well as commitments:- In India mainly a womans duty is to look after her children and manage the other members of the family. Man plays a secondary role only. In case of married women she has to strike a fine balance between her business and family. Her total involvement in family leaves little or almost no time or energy to be diverted for the business activities. Support and approval of husbands seems to be necessity for women entry into business. Domination by male and ideology of male dominated society:- Male chauvinism is still prevalent in many parts of the country . The constitution of India speaks about the equality between both the sexes, i.e. men and women, but in practice, equality does not exist . Thus women suffer from a number of problems. Therefore an attempt is made by the researcher to study the opportunities and threats of women entrepreneurs for the development of the Nation.

OBJECTIVES OF THE STUDY: 1. To study the socio economic profile of the women entrepreneur 2. To identify the factors influenced to start the business 3. To examine the problem faced by the women entrepreneur 4. To make suggestion to overcome the barriers faced by women entrepreneur. METHODOLOGY The study area covers the entire city of Coimbatore popularly known as the Manchester of India ,which is the second largest city in Tamil Nadu. It is a very famous industrialist centre in South India, which attracts many people from India and Abroad. The present study covers the women entrepreneur in the areas of Coimbatore such as R.S Puram, Ramnagar, Saibaba Colony and Ramanathapuram. The study is exploratory by nature as the researcher is going to explore the opportunities and threats of the women entrepreneur. The researcher used purposive sampling technique to collect a sample of 50 respondents through questionnaire. The data for the study were collected during July 2012. Table 1. SOCIO ECONOMIC PROFILE OF THE RESPONDENTS Attribute Age 20 - 25 years 26-30 years 31- 35 years 36- 40 years Marital Status Married No. of Respondents ( 50) 10 20 08 12 35 Percentage 20 40 16 24 70

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Unmarried Educational level Illiterate School Diploma Degree Income Less than 10,000 10,001 20,000 20,001 30,000 Above 30,001 Family Type Nuclear Family Joint Family Dependant Less than 4 More than 4 Nature of business Textile Food Processing Hotel Industry Type of Marketing Method Direct With agent Government/ NGOs Source : Field Survey - July 2012

15 02 16 05 27 03 28 12 07 42 08 40 10 27 18 05 21 23 06

30 04 32 10 54 06 56 24 14 84 16 80 20 54 36 10 42 46 12

In table 1 about 20% of the respondents belong to the age group of 20-25 years, 40% of the respondents belong to the age group 26-30 years , 16% of the respondents belong to the age group31-35 years. 24% of the respondents belong to the age group 36-40 years. Around 70% of the respondents are married and their business is being supported by her husband and 30% of the respondents are unmarried and managing the business with the moral support of their family members. Majority of the respondents (54%) are graduates, 32 % of the respondents have completed their school, 10 % of the respondents have completed diploma, 4% of the respondents are illiterate. Majority 56 per cent of the respondents income were Rs. 10,001 /- Rs. 20,000 , 24 per cent of the respondents income were between Rs. 20,001 Rs. 30,000, 14 per cent of the respondents income were above Rs. 30,0001/- and the remaining 6 per cent of the respondents income were less than Rs. 10 ,000/-. The respondents are highly supportive to their family by contributing their income for improving their standard of living. About 76 per cent of the respondents are from nuclear family and the remaining 24 percent of the respondents are from joint family About 80 percent of the respondents have a dependent less than 4 and the remaining 20 percent of the respondents have more than 4 as their dependents.

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Majority (54%) of the respondents belong to textile field like manufacturing and selling ready made garments , 36% of the respondents are in the food processing business like manufacturing pappads, chilly powder, detergents , 10% of the respondents are in the hotel industry . About 42% of the respondents do direct marketing, 46% of the respondents market through agent and 12% of the respondents market through government/ NGOs. TABLE 2 : MEAN SCORE OF FACTORS INFLUENCING THE WOMEN ENTREPRENEUR TO START A BUSINESS S. No Variables Ambition 1 To continue family business 2 Educational Background 3 Government assistance & support 4 High degree of motivation 5 High risk taking capacity 6 Mean score Source : Field survey - July 2012 Score Value 4.22 4.08 4.60 4.51 4.31 4.42 4.34 Rank 5 6 1 2 4 3

Interpretation The factors influencing the women entrepreneur to start business were determined on the basis of mean score of all the statements of respondents, which came out to be 4.34 for the sample respondents (table 2). The variables educational background, government assistance, risk taking capacity have mean score exceeding 4.34 implying their major influence in starting a business. However their perception regarding the influencing factors such as to continuation of their family business, motivation and ambition had mean score less than 4.34, which conclude that the influencing factors has less priority when compared to the previous factors. TABLE 3: PROBLEMS FACED BY ENTREPRENEUR TOWARDS THEIR BUSINESS S. No Variables Score Value Rank Finance for Working Capital 81.9 1 1 Rate of Interest 48.9 8 2 Tax- reduction 66.1 5 3 Duty drawback 53.8 7 4 Subsidies 76.4 2 5 Raw material discount 67.8 4 6 Electricity bill discount 55.2 6 7 Sales and purchase discount 75.4 3 8 Source : Field Survey - July 2012 Interpretation: From the above table the researcher has the following inference that the non-availability of finance for working capital for rural entrepreneurs ranked first with the score of 81.9, followed by difficulty in getting subsidies with the score 76.4 followed by difficulties in getting sales and purchase discount with score of 75.4, followed difficulties in getting raw 465

materials discount with a score of 67.8, followed by tax reduction with a score of 66.1, followed by difficulty in getting electricity bill discount with a score of 55.2 respectively. SUGGESTIONS: 1. Film or publication of success stories of women entrepreneur can go a long way in motivating new women entrepreneurs 2. Entrepreneurial awareness among women through seminars, workshops and arranging regular training camps 3. Setting Women entrepreneurial cell in each district 4. Women entrepreneur day can be celebrated. 5. An Educational institutional particularly women colleges and universities can conduct training programme in entrepreneurship development and include a curriculum related to entrepreneurship. 6. Formation of more self help groups to mobilize resources and pooling capital funds, in order to help the women in the field of industry, trade and commerce. 7. Promote the development of women entrepreneur network and increase social interactions 8. There should be a continuous attempt to inspire, encourage, motivate and cooperate women entrepreneurs. 9. An Awareness programme should be conducted on a mass scale with the intention of creating awareness among women about the various areas to conduct business. 10. Organize training programmes to develop professional competencies in managerial, leadership, marketing, financial, production process, profit planning, maintaining books of accounts and other skills. This will encourage women to undertake business. 11. Educational institutes should tie up with various government and non-government agencies to assist in entrepreneurship development mainly to plan business projects. 12. International, National, Local trade fairs, Industrial exhibitions, seminars and conferences should be organized to help women to facilitate interaction with other women entrepreneurs. 13. NGOs and government organizations to spread information about policies, plans and strategies on the development of women in the field of industry, trade and commerce. Women entrepreneurs should utilize the various schemes provided by the Government. CONCLUSION: In the words of Dr. Vasant Desai, The stage is set for social take off for women from a low development path to an accelerated pace in achieving higher level of self sustaining economic growth. India is brimming with the success stories of women. They stand tall from rest of the crowd and are applauded for their achievements in their respective field. Women entrepreneur are assertive , persuasive and willing to take risks. They manage to survive and succeed in this cut throat competition Entrepreneurship among women no doubt improves the wealth of the nation in general and of the family in particular. Women today are more willing to take up activities. But women In Indian society have been facing several problems from different spheres. Hence Provision of necessary support to overcome the problems in financing, production, marketing, and improvement in socio cultural environment.

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Efforts should be directed towards the encouragement of women entrepreneur. If the women are rightly guided they can strengthen their capabilities besides adding to the family income and national productivity. Women constitute a large segment of the society. There is no doubt that active participation of women entrepreneur helps the countries to achieve economic development. REFERENCES: Jose Paul, N. Ajith Kumar, Paul. T. Mampilly , Entrepreneurship Development, Himalayan Publishing House . G. Jegadeesan, R. Santana Krishnan , Entrepreneruship and Rural Development in India, ICFAI University . A. S. Shiralashetti and S.S. Hugar , Problems and Prospects of Women Entrepreneur in North Karnataka District : A Case Study , Entrepreneurship and Rural Development in India, Pooja Nayyar, Avinash Sharma, Jatinder Kishtwaria, Aruna Rana and Neena Vyas, Causes and Constraints faced by women entrepreneur in Entrepreneurial Process , Kamla Raj Journal of Social Science , 2007, pp 99-102 Women Entrepreneurship and Economic Development By Sanjay Tiwari, Anshuja Tiwari. Publisher : Sarup and Sons Entrepreneurship Development By S.S Khanka. S. Chand & Company Limited . (Ram Nagar, New Delhi-110055).

MICRO SMALL AND MEDIUM ENTERPRISES: THE CASE OF ERODE DISTRICT

Dr. RUPA GUNASEELAN, Associate Professor, Bharathiar School of Management and Entrepreneur Development, Bharathiar University, Coimbatore 641046. Abstract: Small-scale industries in India have been receiving increasing attention not only for their contribution to the economy, especially in employment generation, but also to the special packages or policies they enjoy from the government. Particularly after 1991, when India adopted economic reforms, a number of policies were introduced to improve productive and competitiveness of SSI by developing technology. As one of the Policy initiatives the GOI has announced to set up a National Manufacturing Competitiveness Council to support the SSI sector in their endeavour to become competitive. The council was set up to promote interventions relating to technology up gradation, marketing and sales promotion strategy and skill up gradation, focusing on selected modern sectors/clusters having potential of participating in the global market. This interestingly, small scale sector has shown a better growth performance in terms of output and employment. SSI output growth is 22.93 per cent and employment growth is 10.19 per cent, which are higher than the large scale sector, between 2001-02 and 2006-07.SSI Sector in India creates largest employment opportunities for the Indian populace, next only to Agriculture. It has been estimated that a lakh rupees of investment in fixed assets in the small scale sector generates employment for four persons. Tamil Nadu (14.5%) made the maximum contribution to employment. The paper takes the case of MSMEs in Erode district. Erode district is one among the industrialized district in Tamilnadu and it is fifth among the districts in Tamilnadu as far as MSME concerned. There

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are 18011 registered SSI/MSME Enterprises as on 31.03.2011 in the district. Cotton Textiles in this District dominate the district at present. It accounts for 41.9% of the registered MSME enterprises in the district. Next comes to Hosiery & Readymade Garments industry, which is accounting for 21.9% followed by food products with 17.2%. MSMEs Scale Industries are providing large-scale employment next to Agriculture in this district. In the present era, it is being realized that small and medium enterprises contributes to industrial development of the country in several ways viz., assembling and harnessing the various inputs, bearing the risks, innovating and initiating techniques of production to reduce the cost and increase its quality and quantity, expanding the horizons of the market and coordination and managing the manufacturing units at various levels. It is of great interest to examine the problem of the Distribution policies and practices small and medium enterprises. Key Words: MSMES, policies and trends in India, Erode district.

INTRODUCTION: The role of micro, small and medium enterprises (MSMEs) in the economic and social development of the country is well established. The MSME sector is a nursery of entrepreneurship, often driven by individual creativity and innovation. This sector contributes 8 per cent of the countrys GDP, 45 per cent of the manufactured output and 40 per cent of its exports. The MSMEs provide employment to about 60 million persons through 26 million enterprises. The labour to capital ratio in MSMEs and the overall growth in the MSME sector is much higher than in the large industries. The geographic distribution of the MSMEs is also more even. Thus, MSMEs are important for the national objectives of growth with equity and inclusion. The MSME sector in India is highly heterogeneous in terms of the size of the enterprises, variety of products and services produced and the levels of technology employed. While one end of the MSME spectrum contains highly innovative and high growth enterprises, more than 94 per cent of MSMEs are unregistered, with a large number established in the informal or unorganized sector. Besides the growth potential of the sector and its critical role in the manufacturing and value chains, the heterogeneity and the unorganized nature of the Indian MSMEs are important aspects that need to be factored into policy making and programme implementation. The representatives of 19 prominent MSME Associations met the Prime Minister on 26 August 2009 to highlight their concerns and issues regarding MSMEs. The Prime Minister announced the setting up of a Task Force to reflect on the issues raised by the associations and formulate an agenda for action within a period of three months after discussions with all stakeholders. Accordingly, a Task Force under the chairmanship of the Principal Secretary to Prime Minister was constituted to address the issues of the MSME sector. Although Indian MSMEs are a diverse and heterogeneous group, they face some common problems, which are briefly indicated below: Lack of availability of adequate and timely credit; High cost of credit; Collateral requirements; Limited access to equity capital; Problems in supply to government departments and agencies;

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Procurement of raw materials at a competitive cost; Problems of storage, designing, packaging and product display; Lack of access to global markets; Inadequate infrastructure facilities, including power, water, roads, etc; Low technology levels and lack of access to modern technology; Lack of skilled manpower for manufacturing, services, marketing, etc; Multiplicity of labour laws and complicated procedures associated with compliance of such laws; Absence of a suitable mechanism which enables the quick revival of viable sick enterprises and allows unviable entities to close down speedily; and Issues relating to taxation, both direct and indirect, and procedures thereof.

RESEARCH METHODOLOGY: The data used in the study was Secondary data. The growth and future prospectus of MSME was analyzed with Qualitative and percentile assessments. The data were collected pertaining to Erode District. Investment level and employment level were comprehended from various Secondary Sources. SCOPE OF THE STUDY: This study helps in understanding about the performance of MSMEs in Erode District. It also helps in the growth of MSMEs and also to learn about the future prospects of MSMEs enterprises in Erode District. OBJECTIVE OF THE STUDY: To understand and develop some insight on MSMEs of Erode district. To understand and assess the concentration and distribution of MSME enterprises in Erode District. To estimate the investment level and Employment generation level in MSME Sector of Erode district. LIMITATIONS: The study concentrates only on the MSMEs in Erode district so the performance cannot be generalized. GROWTH IMPERITIVE: The long-term policy imperative of the country is to achieve inclusive growth. The current developmental problem facing India is exacerbated by the changing demographic profile of the country. The number of unemployed will range from 19 to 37 million people by 2012, of which the proportion of the educated youth will be the largest. Therefore, the need for strong, accelerated economic growth is now more acute than ever. Indias economic growth has been led by the services sector in the last decade, particularly owing to the growth in information technology (IT) and business process outsourcing (BPO) industries. The manufacturing sectors importance has grown in the recent years with the advancement in its output. The sector offers huge potential for employment creation. Moreover, the importance

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of Micro, Small and Medium Enterprises (MSMEs) in the growth process is considered to be a key engine of economic growth in India. The MSME sector accounts for about 45% of manufacturing units, 95% of the industrial units and 40% of exports. Besides, the sector provides employment to almost 60 million people, mostly in the rural areas of the country, making it the largest source of employment after the agriculture sector. Development of this sector, thus, holds key to inclusive growth and plays a critical role in Indias future. MSMEs THE REAL ENGINES OF GROWTH: Micro, Small and Medium Enterprises (MSMEs) play a significant role in the economic growth of the country owing to their contribution to production exports and employment. The sector contributes 8% to the countrys GDP, 45% to the manufactured output and 40% to the countrys exports. It provides employment to 60 million people through 28.5 million enterprises. Significantly, the MSME sector has maintained a higher growth rate vis--vis the overall industrial sector during the past decade. According to a survey, exports from these enterprises have been on the rise, despite increased cost of raw materials, sluggish global demand and stiff international competition. Today, the sector produces a wide range of products, from simple consumer goods to high-precision, sophisticated finished products. It has emerged as a major supplier of mass consumption goods as well as a producer of electronic and electrical equipment and drugs and pharmaceuticals. A drive to the sector is likely to have a multiplier impact on economic growth. According to the MSMED Act, MSMEs are defined on the basis of their investment in plant and machinery and equipment for enterprise rendering services.

Classification

Manufacturing Enterprise

Service Enterprise

Micro

Rs 2.5 million/Rs 25 lakh (US$ 50,000) Rs 50 million/Rs 5crore (US$ 1 million)

Rs 2.5 million/Rs 25 lakh (US$ 50,000) Rs 20 million/Rs 2 crore (US$ 0.4 million)

Small

Medium

Rs 100 million/Rs 10crore (US$ 2 million)

Rs 50 million/Rs 5 crore (US$ 1 million)

MSMEs constitute over 90 per cent of total enterprises in most of the optimism amongst Indian business owners (84 per cent) remains well ahead of the economies and are credited with generating high rates of employment and account for a major share of industrial production and exports. In India too, MSMEs play a pivotal role in the overall industrial economy of the country. With its agility and dynamism, the sector has shown admirable innovativeness and adaptability to survive the recent economic downturn and recession. Apart from providing the support to the large industries, MSMEs have played an important role in the development of States in terms of the employment generation. More than 55 per cent of these enterprises are located in six major States of the country, namely, Uttar Pradesh, Maharashtra, Tamil Nadu, West Bengal, Andhra Pradesh and Karnataka. The

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MSME sector has slowly come into the limelight, with increased focus from the government and other government institutions, corporate bodies and banks. Policy based changes; investments into the sector; globalization and Indias robust economic growth have opened up several latent business opportunities for this sector. TAMIL NADU MSME POLICY (2008): The Micro, Small and Medium Enterprises policy aimed at sustaining the annual growth rate of the sector over 10%. This came after the enactment of the Medium, Small and Micro Enterprise Development Act, 2006.It also aimed at promoting 10 lakh direct and indirect employment during the Eleventh Five Year Plan period. As a policy update for 2012-13, the Government has sanctioned an amount of INR 50 crore for the strengthening, re-vitalizing and transforming of the District Industries Centers. A new scheme called NEEDS (New Entrepreneur-cum-Enterprise Development Scheme) has been introduced to help first generation entrepreneurs. INR 100 Crores as capital subsidy and other assistance has been provided to this scheme under the 2012-13 Budget. 20 industrial clusters are expected to be implemented in 2012-13. Various levels of subsidies have been provided for the MSMEs under the policy update for 2012-13. Recently our chief minister Jayalalitha sanctioned INR 4.88 crore to establish entrepreneur training center as a part of an initiative aimed at providing more impetus to MSMEs in the state. AN INSIGHT INTO THE MSMEs OF ERODE DISTRICT: Erode district is one among the industrialized district in Tamilnadu and it is fifth among the districts in Tamilnadu as far as MSME concerned. There are 18011 registered SSI/MSME Enterprises as on 31.03.2011 in the district. Cotton Textiles in this District dominate the district at present. It accounts for 41.9% of the registered MSME enterprises in the district. Next comes to Hosiery & Readymade Garments industry, which is accounting for 21.9% followed by food products with 17.2%. MSMEs Scale Industries are providing large-scale employment next to Agriculture in this district. It have played a vital role in the districts economy by providing large scale employment opportunities at relatively low capital cost, a wide entrepreneurial base, easy dispersal of industries in rural areas and concentration of certain industrial groups at specific areas.

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Area of Concentration The following table shows that different type of industries and their area of concentration. It may be seen that food products are concentrated at Erode, Perundurai beverages are concentrated in all the 3 blocks of Erode Taluk namely, Modakurichi, Erode & Kodumudi. Cotton Textiles and Readymade Garments are concentrating in Erode Taluk. Erode Taluk is also having the maximum number of industries in Leather & Leather Products, Non metallic mineral products apart from Food Products. Next to Erode, Perundurai stands second in Food Products, Cotton Textiles, Chemical & Chemical Products and Transport Equipments. Concentration of MSME Enterprise Units in Erode District - as on 31.03.2011 Sl.No. Ind. Code Name of Industry Registered SSI/MSME Units as on 31.03.2011 No. of % to the units total 1. 20-21 Food Products 1424 17.2 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Total 22 23 24 25 26 27 28 29 30 31 32 33-35 36 37 38 Beverages Cotton Textiles Wool, Silk & Synthetic Fibre Jute, Hemp and Mesta Products Hosiery & Readymade Garments Wooe and Wood Products Paper & Paper Products Leather & Leather Products Rubber & Rubber Products Chemical & Chemical Products Non-Metallic/ Mineral Products Basic Metals, Metal Products etc Electrical Machinery & Apparatus Transport Equipment & Parts Other Mfg. Industries 38 3467 61 21 1814 843 214 289 18 6 18 26 -22 8261 0.4 41.9 0.7 0.25 21.9 10.2 2.5 3.4 0.2 0.07 0.2 0.3 --0.2

Small Scale Service & Business Enterprises Like the MSME Service sector has also grown considerably in this district. There are 12683 Service Enterprises as on 31.03.2011 in this District. Group wise number of enterprises in this segment is given below.

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MSME Service Enterprises as on 31.03.2011 Group Code (Two Digit) Group Name 50 51 74 76 82 93 96 97 99 Digging of Bore-wells Painting & Decorating Storage & Ware Housing Communication Data Processing Medical & Health Service Personal Services Repair & Servicing Services not elsewhere classified Total

Number of Units -848 6 1872 1998 82 2988 4889 -12683

DISPERSAL OF MSME ENTERPRISES The notable feature of the MSME sector is its easy dispersal in wide areas. In Erode district, MSME Enterprises are spread all over the district even though concentration of the units can be seen in some of the places. While Erode Taluk alone having 38% share of MSME Enterprises, the surrounding taluks Perundurai, Bhavani is having the share of 19%, 11.3%, respectively. It can be seen that all of the above three taluks namely, Erode, Perundurai, Bhavani. There altogether having a share of 68% of the total MSME enterprises. The remaining three taluks are having only 32%. The blocks like Thalavadi and Bhavani Sagar are having the MSME enterprises less than 1%. INVESTMENT LEVEL & EMPLOYMENT LEVEL The total investment in plant & machinery in the MSME sector in Erode District is Rs.58997.54 lakhs as on 31.3.2011. The average investment in plant & machinery per Enterprises is estimated around 3.2 lakhs. The total employment generated directly by the registered MSME Enterprises in this district is 73919 persons, which works out an average of 3 persons, per unit during 2010 - 2011.

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Employment Generated as on 31.03.2011 - Taluk Level

&

Investment

in

MSME

Sector

Sl.No

Name of the Taluk

Number of Enterprises

Investment in Plant and Machinery As on 31.03.2011 Rs. in lakh 32131.81

Employ % to the total ment

Erode

8024

32192

38%

Perundurai

4123

8326.80

18491

19%

Gobi

2234

5961.60

8932

10.6%

Sathyamangalam Kangayam upto 17.04.2009 Bhavani Dharapuram upto 17.04.2009 Total

1244

3842.14

4276

5.9%

1044

2987.22

2912

2386

4263.79

4432

11.3

1889

1484.18

2684

20944

58997.54

73919

From the above table it can be seen that Erode Taluk is leading among other taluks in terms of number of enterprises, investment level and employment. Erode Taluk is having 38% of registered MSME units with 54% of total investment level and 43% of employment in the district. It is due to the concentration of cotton textiles & readymade garments enterprises in this taluk and their easy accessibility to the market. Next to Erode, Perundurai Taluk is having 4123 number of registered MSME enterprises with 8326.80 lakhs in investment in plant & machinery and providing employment to18491 person. Bhavani Taluk is having 2386 enterprises, with investment of 4263.79 Lakhs and providing employment to 4432 persons. In Gobi Taluk 2234 units are providing employment to 8932 persons with investment of 5961.60 Lakhs.Sathyamangalam Taluk is having 1244 registered MSME enterprises, which is the lowest number of enterprises in the district. GOVERNMENT INITIATIVES: Considering the importance of the MSME sector in the overall growth of the economy;, a task Force under the Chairmanship of the Principal Secretary to the Prime Minister was constituted in August 2009. The role of the task force is to provide a roadmap for the development and promotion of MSMEs in the country and recommend an agenda for immediate action to provide relief and incentives to the MSMEs, accompanied by

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institutional changes and detailing of programme to be achieved in a time bound manner. In addition, it suggests setting up of appropriate legal and regulatory structures to create a conducive environment for entrepreneurship and growth of MSMEs in the country. The task force has laid emphasis on timely implementation of the recommendations and has set up a system for its continuous monitoring in the Prime Ministers Office. A Council on MSMEs under the chairmanship of Honble Prime Minister has also been constituted to lay down the broad policy guidelines and review development of the MSME sector. Initiatives from within the sector to lobby favorable policies and increasing credit flow are credible. The sector has also realized the need for technological and modernization initiatives. However, with economic liberalizations and changes in the trade policy, MSMEs have now started facing increased competition from foreign companies. As global competitiveness becomes intensive, MSMEs are transitioning to a new business environment with emergence of global supply chains. MSMEs form an integral part of almost every value chain and there is a symbiotic relationship between the large corporations and their relatively smaller sized suppliers. However, in a liberalized world, the relationships between the suppliers and buyers are undergoing dynamic changes with the dissolution of existing relationships and formation of new trade linkages that transcend the barriers of nationality and boundaries. Even the domestic market is no more an insulated zone in a controlled economy; the competitive pressures of a free market economy are catching up in India. The domestic market has been flooded with many low cost, reasonable quality, bulk produced products giving tough competition to MSMEs. With the opening up of the economy, MSMEs need to catch up with global standards in order to remain competitive and profitable. These initiatives were normally included in 11th plan in MSME growth. 12TH PLAN VISION FOR MSME GROWTH: The MSME sector of India is today at the gateway of global growth on the strength of competitive and quality product range. The Report of the Working Group on Micro, Small & Medium Enterprises (MSMEs) Growth for 12th Five Year Plan (2012-2017) feels facilitation from the Government is required to minimize transaction costs of technology up gradation, market penetration, modernization of infrastructure etc. The Report says The PMs Task Force has already taken significant initiatives in this regards. The recommendations of this Working Group for the 12th Plan period will be a vital enabler towards implementation of the initiatives of the Task Force through participative, transparent and scalable policies and schemes of the Government of India. A framework for the report of the Working Group was developed in the first meeting of the Group and 11 Sub-Groups were constituted for detailed study of important focal areas to identify the bottlenecks and suggest facilitation needed to overcome them. In its second meeting the Working Group decided to give the recommendations on following thematic verticals: Finance, including credit. Infrastructure. Technology. Marketing & Procurement. Skill Development & Training. Institutional Structure

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Planning Commission constituted the present Working Group on Micro, Small & Medium Enterprises (MSMEs) Growth for the 12 th Five Year Plan (2012-17), under the chairmanship of Secretary (MSME) with 46 members representing various Ministries/Offices of Government of India, representatives of selected State Governments and Industry Associations, NGOs etc. in May, 2011. The terms of reference of the Group was, carrying forward the recommendations of the Prime Ministers Task Force and suggest specific action plan and milestones to be achieved within the 12 th Plan period. Further, the terms of reference of the Group also includes suggestions to address problems of Unorganized Sector and formulate proposals/schemes to facilitate overall growth of the MSME sector. To identify issues inhibiting growth of the sector, a Task Force was constituted by the Prime Minister in 2009. The Task Force made 85 recommendations to unshackle the Indian MSMEs. CONCLUSION: In India SMEs has achieved steady growth over the last couple of years. The role of SMEs in the industrial sector is growing rapidly and they have become a thrust area for future growth. The Indian market is growing and the Indian industry is making rapid progress in various Industries like manufacturing, food processing, textile and garments, retail, precision engineering, information technology, pharmaceuticals, agro and service sectors. Under the changing economic scenario the SMEs have both the opportunities and challenges before them. The support given by the national and the state governments to the SMEs is not adequate enough to solve their problems. However for the sector to fully utilize its potential, it is essential that the entrepreneurs along with the government support take necessary steps for further development. It is quite evident that, nurturing this sector is essential for the economic well-being of the nation. Reference: 1. FICCI- Grant Thornton Report, on Vision 2020- Implications for MSMEs, released at the annual FICCI MSMEs Summit 2011. 2. www.grantthornton.in/html/assets/MSMEVision2020.pdf 3. Annual report of Ministry of Micro, Small and Medium Enterprise-[MSME] of India, (2010-11), Introduction: Background of MSMEs, Development Commissioner (MSME), Government of India. http://msme.gov.in/MSME Annual-Report-2010-11English.pdf, accessed on April 5, 2011. 4. Annual report of MSME of India, (2010-11), Growth and performance of MSMEs and 4th Census of MSMEs, Development Commissioner (MSME), Government of India. http://msme.gov.in/MSME Annual-Report-2010-11-English.pdf, accessed on April 9, 2011. 5. http://pib.nic.in/newsite/erelease.aspx?relid=80399 6. http://www.erode.tn.nic.in/ssi.htm

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CLOUD COMPUTING
MS.V.SINDHUJA, MS.G.VAISHNAVEE, & MR.C.NAGARAJAN, Assistant Professors, Department of Commerce with CA, Dr.N.G.P Arts & Science College,Coimbatore Cloud computing is the use of computing resources (hardware and software) that are delivered as a service over a network (typically the Internet). The name comes from the use of a cloud-shaped symbol as an abstraction for the complex infrastructure it contains in system diagrams. Cloud computing entrusts remote services with a user's data, software and computation. There are many types of public cloud computing: Infrastructure as a service (IaaS), Platform as a service (PaaS), Software as a service (SaaS) Storage as a service (STaaS) Security as a service (SECaaS) Data as a service (DaaS) Business process as a service (BPaaS) Test environment as a service (TEaaS) Desktop as a service (DaaS) API as a service (APIaaS) The business model, IT as a service (ITaaS), is used by in-house, enterprise IT organizations that offer any or all of the above services. Using software as a service, users also rent application software and databases. The cloud providers manage the infrastructure and platforms on which the applications run. End users access cloud-based applications through a web browser or a light-weight desktop or mobile app while the business software and user's data are stored on servers at a remote location. Proponents claim that cloud computing allows enterprises to get their applications up and running faster, with improved manageability and less maintenance, and enables IT to more rapidly adjust resources to meet fluctuating and unpredictable business demand. Cloud computing relies on sharing of resources to achieve coherence and economies of scale similar to a utility (like the electricity grid) over a network. At the foundation of cloud computing is the broader concept of converged infrastructure and shared services. How can you use the cloud? The cloud makes it possible for you to access your information from anywhere at any time. While a traditional computer setup requires you to be in the same location as your data storage device, the cloud takes away that step. The cloud removes the need for you to be in the same physical location as the hardware that stores your data. Your cloud provider can both own and house the hardware and software necessary to run your home or business applications. This is especially helpful for businesses that cannot afford the same amount of hardware and storage space as a bigger company. Small companies can store their information in the cloud, removing the cost of purchasing and storing memory devices. Additionally, because 477

you only need to buy the amount of storage space you will use, a business can purchase more space or reduce their subscription as their business grows or as they find they need less storage space. One requirement is that you need to have an internet connection in order to access the cloud. This means that if you want to look at a specific document you have housed in the cloud, you must first establish an internet connection either through a wireless or wired internet or a mobile broadband connection. The benefit is that you can access that same document from wherever you are with any device that can access the internet. These devices could be a desktop, laptop, tablet, or phone. This can also help your business to function more smoothly because anyone who can connect to the internet and your cloud can work on documents, access software, and store data. Imagine picking up your Smartphone and downloading a .pdf document to review instead of having to stop by the office to print it or upload it to your laptop. This is the freedom that the cloud can provide for you or your organization. Types of clouds There are different types of clouds that you can subscribe to depending on your needs. As a home user or small business owner, you will most likely use public cloud services. o Public Cloud - A public cloud can be accessed by any subscriber with an internet connection and access to the cloud space. o Private Cloud - A private cloud is established for a specific group or organization and limits access to just that group. o Community Cloud - A community cloud is shared among two or more organizations that have similar cloud requirements. o Hybrid Cloud - A hybrid cloud is essentially a combination of at least two clouds, where the clouds included are a mixture of public, private, or community. Choosing a cloud provider Each provider serves a specific function, giving users more or less control over their cloud depending on the type. When you choose a provider, compare your needs to the cloud services available. Your cloud needs will vary depending on how you intend to use the space and resources associated with the cloud. If it will be for personal home use, you will need a different cloud type and provider than if you will be using the cloud for business. Keep in mind that your cloud provider will be pay-as-you-go, meaning that if your technological needs change at any point you can purchase more storage space (or less for that matter) from your cloud provider. There are three types of cloud providers that you can subscribe to: Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). These three types differ in the amount of control that you have over your information, and conversely, how much you can expect your provider to do for you. Briefly, here is what you can expect from each type. Software as a Service - A SaaS provider gives subscribers access to both resources and applications. SaaS makes it unnecessary for you to have a physical copy of software to install on your devices. SaaS also makes it easier to have the same software on all of your devices at once by accessing it on the cloud. In a SaaS agreement, you have the least control over the cloud. 478

Platform as a Service - A PaaS system goes a level above the Software as a Service setup. A PaaS provider gives subscribers access to the components that they require to develop and operate applications over the internet. Infrastructure as a Service - An IaaS agreement, as the name states, deals primarily with computational infrastructure. In an IaaS agreement, the subscriber completely outsources the storage and resources, such as hardware and software that they need.

Enabling Technologies
Cloud applications: data-intensive, compute-intensive, storage-intensive
Bandwidth
WS

Services interface Web-services, SOA, WS standards

VM0 VM1 VM n

Virtualization: bare metal, hypervisor.

Storage Models: S3, BigTable, BlobStore, ...

Multi-core architectures 64-bit processor

479

Features of Cloud Computing

Virtual Imagine racks of servers, humming along in a data center. Together, these servers become a massive pool of resources. Divide this "pool" into multiple virtual servers, and you create a "cloud."

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It can be secure For the utmost security, create a private cloud on dedicated hardware. But always remember to put appropriate security measures in place, no matter which cloud you choose. It's flexible and scalable Since virtual servers aren't physical, they are super flexible, giving you what you need at the moment. Spin up a server in minutes, and take it down just as easily. It can be affordable You'll get the greatest cost savings in the public cloud, where your virtual servers run on physical servers that you share with other customers. It's open (or closed) In the open cloud, you can easily move your cloud aroundwithout being locked into one provider or a closed, proprietary technology. It can be secure and affordable A hybrid cloud gives you the benefits of both public and private clouds. For example, you can put public-facing components in a public cloud, while storing customer-sensitive data in a private cloud. Advantages of Cloud Computing Cloud computing is basically a resource that you can utilize online to maintain your businesss platform while you worry about other basic assets about your business. It basically changes how online developers meet their criteria for their IT software. Cloud computing is always advancing and changing each year so that it will work better for personal uses and business uses. The three main Technology platform strategies that you will find taking advantage of the cloud computing strategies include, Platform as a Service: PaaS, Software as a Service: SaaS, and Infrastructure as a Service: IaaS. There are other services online that use cloud computer, but the three that are mentioned are just the main methods that are used. There are various tools and features that users will be able to track when using the cloud computing resource. These features/tools would include: Testing Building applications Developmental Stages Network equipment Hosting Maintenance This can all be done over the internet for a low and cost effective price. There are 10 basic cloud computing advantages that will better help you to understand the reasons as to why people use this method for their hardware. Location Areas that have lower overheads are able to utilize this service and take advantage of the benefits as well. Many different websites are able to be set up in the case of a disaster recovery which helps the companies to cut costs in different ways.

480

Multiple Users at one time Cloud computing is not only cost effective, but utilizing it also helps to cut back on global wastes. It is environmentally friendly since it is shared by multiple users. The down time is cut in half and the resources are stretched. Flexible There is a high rate of flexibility when using cloud computing because people can opt out of using it whenever they want too. This is also one of the main reasons people love to use this method. Service level agreements are what cover the costs in this case. If the correct quality is not provided then has to pay a penalty cost. Device Diversity The cloud computing method can be accessed through various different electronic devices that are able to have access to the internet. These devices would include and iPad, Smartphone, Laptop, or desktop computer. Lots of Storage Space When you use the internet with the cloud services then your company will have lots more room to store the files and data that they need to store. Customize Settings Last but not least, you will enjoy the fact that cloud computing allows you to customize your business applications. This is a great benefit because the world of online business is very competitive.

TECHNOLOGICAL CHANGES AND DEVELOPMENTS IN TEXTILE INDUSTRY

Dr. P. THIRUMOORTHI, Assistant Professor, Periyar Institute of Management Studies, Periyar University, Salem N.SARANYA, Research Scholar, Periyar Institute of Management Studies, Periyar University, Salem-636 011, ABSTRACT Today's world is known as an era of technical evolution, most of the manual works are being replaced by automated and semi-automated machines. These machines have improved the quality of the product and efficiency of the plant. Automation is the use of control systems such as computers to control the industrial machinery and processes replacing human operators. The main objective of automation is to broadly focus upon minimise the use of manpower and thereby reducing operating costs, achieving better and consistent quality and increasing productivity. There are many more benefits of using automated machines. In order to meet the demand from the textile for latest generation machines and accessories, a number of units in the textile engineering sector would need quick up gradation and modernisation. Technology development is critical to a country's efforts in improving productivity, efficiency and competitiveness of its industrial sector. ''Technological obsolescence in textile machinery industry has reserved its capacity to produce high-tech machines. The changes are giving a new opportunity to develop their organisations. They are adopting the automation for developing their productivity and reducing the man power and future purposes. 481

This paper aims to understand the technological changes and developments through technology in textile industry. INTRODUCTION Today, globalisation has brought opportunities for Indian textile industry. At the same time it is also exposed to threats, particularly from cheap imported fabrics. Thus, the industry has to fight for its share in international textile trade. Indian textile industry is the second largest in the world. It has the largest cotton estate of 9 million hectares and is the third largest producer of this fibre. It ranks fourth in terms of stable fibre production and sixth among filament yarn production. For the Indian economy, the textile industries accounts for 20% of its industrial production employing over 15 million people. About 30% of Indians export basket consists of textiles and garments making it the largest contributors. In spite of high capital and power cost, Indian textile and garments sectors strength lies in availability of cotton, lower labour costs, well educated supervisory staff and abundant technical and managerial skills. A very few countries are endowed with such resources. Indian textile industry should not only rely on its strength, but should also endeavour to remove its weakness. The technology is crucial of modernisation and for being competitive We have not been able to fully utilize the potential of technological developments in textile production. Therefore, Indian textile industry is fraught with severe technological obsolesce affecting productivity and quality of textile goods. CHANGES IN THE TEXTILE INDUSTRY Technological changes in the textile industry during the past four decades can be generally divided into three phases. High-speed spinning frames and looms, with reduced vibration levels, were developed in the 1950s and early 1960s. The most radical alterations in the core technology of spinning and weaving came in the behind of 1960s and during the 1970s, with the introduction of rotor spinning and shuttle less looms. This was the period when new technology was sought to increase productivity and to struggle the cost-based competitiveness of lower wage producers from Asian countries. From the late 1970s onwards, the changes in the textile industry of the developed countries have been characterized by the introduction of microelectronics based technology and the automation of industrial processes. During the 1990s, rapid response to market conditions is to become a more important force after the technological innovation and it is to be focus on increasing in speed and flexibility somewhat better than cost-cutting. DEVELOPMENTS THROUGH TECHNOLOGY There has been rapid development in machinery/technology during last decade. A brief description of modern developments in various areas is given below. Investment costs connected with technology improvements in the textile sector have raised significantly. The impact of automation on employment has also been significant. During the last 15 years, employment in the textile and clothing industry in the entire EU area has declined by 40 per cent, and the forecast for the 1990s is a loss of 7,00,000 to one million jobs in the textile sector alone. The occupational structure has also changed, with the proportion of operators and unskilled laborers decreasing while the share of technical and management staff increases. The new technologies require specialized skills in textile engineering, maintenance, design, computer science, and marketing. Spinning

482

New invention speed frame are fully electronic in all the operations. All the working parameters can be set on electronic panel. There is choice of manual or auto doffing. Machines are available up to 160 spindles capacity thereby substantial saving in the operational cost. In modern ring spinning system winding geometries are further optimised resulting less winding tension. Inverter drive for spindles, independent spindle ring rail and drafting system drives, fast doffing system with no trailing ends are some of the other features of modern ring frames. Ring frame up to 1344 spindles are available. In todays rotor spinning system, different yarn can be spun in different side of the machine. It is possible to get package of variable density. All the technical parameters and machine setting can be controlled by computer. In the modern rotor machine it is possible to prepare a package with 30% higher package density than conventional rotor machine. In modern winding machine path of ring cop from bottom to winding head is further optimised. Therefore, better control of winding tension results in lower increase in hairiness. The technology was earlier used for spinning synthetic blended yarn only. Weaving The main features of modern weaving preparatory/ weaving machines are summarised as under: Machinery manufacturers of both weaving preparatory and weaving machines have improved upon their technology keeping in mind to produce inexactness free fabric for the garment sector. Most of the machines have electronic control and micro-processors which monitors and control the machine function to meet fabric quality requirement and changes in design styles. Maintenance of machine has become easier due efficient lubrication system and better machine design and replacement of mechanical gadgets with electronic control system. There is a definite trend to source the components and auxiliary equipment from the reputed manufacturers rather than preparing themselves, thereby reducing the cost of the machines. In modern rapier looms weft insertion rate ranges from 1200 - 1500 mt/min. Some of the looms have provision to weave wide variety of fabrics. In case of Air jet weaving machine weft insertion rate is still higher and ranges from 1800-2500 mt/min. Modern sizing machine has provision for uniform size pick up across the warp sheet with and minimum hairiness and loss in elongation. These are controlled by temperature control and moisture control systems. Squeeze pressure can be controlled by programmable controller to synchronise the squeezing at all the speeds. Stretch monitoring device is provided to control the stretch. Knitting In recent times the quality requirements imposed on a knitting factory by its customer have become even more precise due to greater emphasis on the reproducibility in case of repeat order. Typically a modern knitting machine has following features as: Automatic calculation of fabric take down speed, feeders per course, stitch/cm and elongation Automatically controlled thread in feed by entering the required thread in feed per cm Automatic control of height adjustment through computer 483

Automatic monitoring of yarn in feed and yarn tension Computer facilitated pattern preparations for production of the desired pattern through user friendly software.

Processing New generation processing machine incorporates microprocessor controls. Various process parameters can be programmed in microprocessor for strict adherence of processing conditions. Apart from good control, machines are also energy efficient and features are incorporated for the reduction of consumption of chemicals, water and steam etc. The developments are also taking place keeping environment requirement and eco-friendly processing while manufacturing the textile products and safer conditions for those involved in the manufacturing. Quality control/process control In the area of cotton testing new generation instruments are mostly High Volume Instruments (HVI). These HVI are equipped with automatic sampling. In addition to testing of length, strength and fineness parameters they also measure short fibre content and maturity index values. It is claimed that maturity values are quite accurate. Instruments also have modules to test colour, trash naps and fluorescence values. Some of the suppliers are providing bale management systems. In case of manmade fibres linked instruments are available which can measure denier, tenacity, elongation and crimp properties. Robotic arm can take the fibre samples automatically from the creel. In the area of yarn quality, modern evenness tester can measure, evenness, imperfection and periodical faults at a high speed. Some of the instruments are equipped with to measure hairiness, diameter variation and shape, dust as well as trash contents. Single thread strength testing machine are developed with a testing speed of 400 mt/min. The machine is equipped to carry out 30000 tests per hour. It is claimed that weaving performance of the yarn can be predicted well in advance with this machine. Some of the single thread strength machines are equipped with automatic yarn count determination system. Yarn fault classification system has moved to the winding machine from the laboratory. Data of complete yarn lot can be taken from the winding machines. Electronic inspection Board can do the yarn grading based on yarn appearance by using CCD camera and software to measure yarn profile. Instrument can also give fabric simulations if desired. In fabric testing, automatic fabric inspection system can inspect grey and single cotton dyed fabrics for all materials including air bag fabrics and glass fibre fabrics. Report and images of all the defects can be retrieved. In the area of process control and management ERP systems are available which provide 3-tier solution including the online data acquisition, offline data entry cum reporting system and intelligent business management system. CONCLUSION: The technologies help to produce more quantity within short period in higher quality and therefore a faster response to changing market conditions. The full utilization of these technological improvements is dependent on further complementary changes in organization and management. The technological changes give a new opportunity to the Indian textile industry and give jobs for unemployment people. 484

REFERENCES: 1.PR Wadje, Faculty member, DKTE Society's Textile & Engineering Institute, Ichalkaranji,Kolhapur Dist, Maharashtra. 2. M J Doshi, Faculty member, DKTE Society's Textile & Engineering Institute, Ichalkaranji,Kolhapur Dist,Maharashtra. 3. Berkstresser III G., Buchanan D., Grady P., Automation in the Textile Industry, The Textile Institute, 1995 4. www.fibre2fashion.com

CLOUD COMPUTING
R.AARTHY, S. ISWARYA & K.S.MALLIKA, III B.Com (CA), Sri Krishna College Of Arts & Science, Coimbatore, Tamil Nadu ABSTRACT Resource sharing in a pure plug and play model that dramatically simplifies infrastructure planning is the promise of cloud computing. The two key advantages of this model are easeof-use and cost-effectiveness. Being built on decades of research it utilizes all recent achievements in virtualization, distributed computing, utility computing, and networking. Though there remain questions on aspects such as security and vendor lock-in, the benefits this model offers are many . Cloud computing is Recognized as one of the Top 10 technologies of 2010 by Gartner, Cloud Computing has generated a lot of interest and competition in the industry. The overview gives the basic concept, defines the terms used in the industry, and outlines the general architecture and applications of Cloud computing. It gives a summary of Cloud Computing and provides a good foundation for understanding With the emergence of new Cloud Providers, identifying one that best suits the business needs of an enterprise is a challenging and difficult task. Adopting a Cloud Provider requires a detailed study of parameters like data security and options that address the reduction of capital expenditure. While there are many benefits of adopting the infrastructure, platforms & services offered by a Cloud Service provider, the applicability of these would depend on the nature & size of an enterprise. KEY WORDS Cloud computing, virtualization, distributed computing, utility computing, networking Introduction The Vision for Private Cloud Private cloud computing presents a model of shifting from customized to standardized system. Within such an environment the management is no longer about keeping off change but in return embracing it to make easier IT s twin goals by means of delivering on the business needs and handling the primary resources in possible the most effective way. The primary to reaching greater operational efficiency is standardization. Private clouds do not just make standardization easy but noticeably extends the returns on standardization. Employing standard infrastructure from a catalogue of applications makes orders of magnitude easier and faster than creating every application form scratch. The same gains are available from standardizing and centralizing high availability, security and network management.

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Management Management, in the cloud computing, will develop from minimizing and preventing change to covering constant change such as the natural state of IT. For instance, moving of an app from one server to another, in the physical world, means both risk and down-time and requires careful tracking and planning in a Change Management Database (CMDB). For comparison, in a cloud environment alteration at any level is included and accomplished automatically grounded on predefined policies. The quickness of a private cloud infrastructure allows you to offer every application the resources it requires now, adapting as demand changes. Management is focused on 2 clear needs: assuring that every application satisfies the business needs (performance, security, availability) and rendering the pool of resources to fill the aggregate needs of the company in the most effective and reciprocal way possible. Core differences in approach of Management: Change is thoroughly planned, manual, slow and risky Static bindings between applications, infrastructure and processes Management software performs to the lowest common denominator Heterogeneous processes and elements across silos Private Cloud Management High-level abstraction and massive standardization Dynamic relationships all over layers of the technology stack Day-to-day is automated; tools of management should focus on higher order tasks Change is automated and constant In order to derive benefit of the cloud, there requires being a clear separation of the consumption versus production layer. Within the cloud, the user (the business) has no idea and essentially, few interest in or concern with which management tools and hardware platform are being deployed to implement services. Security Traditional approaches for defending the applications and operating system have relied solely on agents, who are vulnerable by themselves, offer protection just with limited layers of the application + OS stack, and build sprawl and update management issues on a large scale. The VMware vSphere platform possesses unique introspection abilities and delivers effective and comprehensive access to security controls at the time of obviating the necessity for security agents in every virtual machine, recognizing hard-to-detect problems efficiently and precisely Cloud computing should also be a part of marketing. Internet marketing is essential marketing channel for all businesses now a day. If we do not take advantage of these opportunities when we are implementing the marketing initiative, the business will suffer. In addition to being essential for the survival of the business, the growth of business and customer relationship management, there are so many advantages to using cloud computing. In a variety of ways, cloud computing makes the job much easier, the load lighter, and it enables to make more efficient use of time. Moreover, we also have access to the data and business services from any computer with an Internet connection. This makes the business truly global if it needs to be, because we can work at any place and any time. They usually

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offer different packages, but if you only needed the service for a short period of time, some companies usually monthly memberships. Characteristics of Cloud Computing The 5 essential characteristics of a Cloud Computing are: 1. On-demand Self-Service where a customer can unilaterally provision computing capabilities such as user access, server time and network storage as needed automatically without requiring human interaction with individual service providers. 2.Broad Network Access where capabilities are available over the network and accessed through standard mechanisms that promote use by heterogeneous thin or thick client platforms such as mobile phones, desktops, laptops and PDAs. 3. Resource Pooling where the providers computing resources are pooled to serve multiple customers in a multi-tenant model, with different physical and virtual resources dynamically assigned and reassigned according to demand. There is a sense of location independence in that the customer generally has no control or knowledge over the exact location of the provided resources but may be able to specify location at a higher level of abstraction such as a country, state, or data center. Examples of these pooled resources include storage, processing, memory, network bandwidth, and virtual machines. 4. Rapid Elasticity where capabilities can be rapidly and elastically provisioned; in some cases automatically, to quickly scale out and rapidly released to quickly scale in. To the customer, the capabilities available for provisioning often appear to be unlimited and can be purchased in any quantity at any time.

Cloud Computing Service Models The 3 Service Models governing Cloud Computing consist of: 1. Cloud Software as a Service, or SaaS where the capability provided to the customer is to use the providers applications running on a cloud infrastructure. The applications; such as web based email and office productivity applications, are accessible from various client devices through a thin client interface such as a web browser. The customer does not manage or control the underlying cloud infrastructure including network, servers, operating systems, storage, or even individual application capabilities, with the possible exception of limited customer-specific application configuration settings. 2. Cloud Platform as a Service, or PaaS - where the capability provided to the customer is to deploy onto the cloud infrastructure customer-created or acquired applications created using programming languages and tools supported by the provider. The customer does not manage or control the underlying cloud infrastructure including network, servers, operating systems, or storage, but has control over the deployed applications and possibly application hosting environment configurations 487

3. Cloud Infrastructure as a Service, or IaaS - where the capability provided to the customer is to provision processing, storage, networks, and other fundamental computing resources where the customer is able to deploy and run arbitrary software, which can include operating systems and applications. The customer does not manage or control the underlying cloud infrastructure but has control over operating systems, storage, deployed applications, and possibly limited control of select networking components such as firewalls.Examples Cloud Software as a Service solutions deliver software over the Internet and eliminate the need for customers to install and run these applications on their local devices, simplifying maintenance and support. Examples of Cloud Software as a Service deliverables include hosted application software such as Word Processor, Spreadsheet and Email applications, as well as Social Networking and Photo and Video sharing solutions and hosted PSA and RMM solutions. Cloud Platform as a Service deliverables include computing platforms and/or solution stacks, often consuming cloud infrastructures and sustaining cloud

applications such as Windows Azure, Google AppEngine and Force.com. These types of deliverables facilitate the deployment of applications for customers and eliminate the need, cost and complexity of buying and managing underlying hardware and software layers. Cloud Infrastructure as a Service delivers computing infrastructure; generally as virtualized environments, where all infrastructure such as servers, software, network equipment, data center space, storage and firewalls can be delivered to customers as a fully outsourced service. Solutions delivered by Rackspace, Amazon Web Services and GoGrid provide customers these types of services.

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Cloud Computing Services Deployment Models Cloud Computing solutions are deployed in one of 4 models: 1. Private Cloud where the cloud infrastructure is operated solely for an organization. It may be managed by the organization or a third party and may exist on-premise or offpremise. 2. A Community Cloud - where the cloud infrastructure is shared by several organizations and supports a specific community that has shared concerns such as mission, security requirements, policy, and compliance considerations. It may be managed by the organizations or a third party and may exist on-premise or off-premise. 3. A Public Cloud where the cloud infrastructure is made available to the general public or a large industry group and is owned by an organization selling cloud services. 4. A Hybrid Cloud where the cloud infrastructure is composed of two or more clouds; such as a private cloud and a community or public cloud, that remain unique entities but are bound together by standardized or proprietary technology that enables data and application portability such as cloud bursting for load-balancing between clouds. Cloud Computing: Current Market Trends and Future Opportunities Cloud computing continues to gain more mainstream adoption as more companies move into the cloud. This article focuses on where the cloud space stands in the market and the future driving trends in these five specific areas: Infrastructure as a Service, Platform as a Service, Software as a Service, Cloud Storage and Private/Internal Clouds. 1. Commodity Infrastructure as a Service Infrastructure as a Service (IaaS) is what most IT professionals think about when they talk about the cloud. IaaS is also referred as Cloud Infrastructure service and is considered as the core of cloud computing. Forrester, an analyst firm predicts it will generate greater revenue potential which can clearly be seen from Amazon Web Services, the undisputed commodity IaaS revenue leader. Investment bank, UBS reported that AWS earning statement could jump from $550 million in 2010 to $750 million in 2011. This year, AWS reveals that its S3 storage service hosts doubled as it now hosts more than 262 billion objects. Rackspace, the second largest commodity IaaS provider also reveals an increase in its revenue. With its Cloud Servers and Cloud Files, they reported an 18.1 percent increase from $31.4 million to $37.1 million for the first quarter of 2011.Both AWS and Rackspaces rapid revenue growth can be credited from the growing usage of the IaaS. Despite this reported growth, some are still reluctant to consider commodity IaaS for mission-critical applications in the cloud. A recent survey showed that 52 percent responded that security concerns are holding them back from using the cloud. Large organizations rely on commodity IaaS for testing and developing new applications, and for hosting applications that are less-critical, while small businesses use it for mission-critical applications. Future Trend of Commodity IaaS 489

Commodity IaaS will continue to shape up and take on more enterprise workloads. Enterprise-focused clouds will look to further specialize their offerings. Survey respondents cited the need for more insights from operational data and more control. Cloud users and providers cited analytics and automation as a service theyd like to have. 2. Enterprise IaaS Providing on-demand access to computing and storage resources is the main focus of Enterprise IaaS clouds. One difference between the two is the difficulty to distinguish enterprise IaaS adoption rates and market size from those of commodity IaaS. Enterprise IaaS clouds dont need to attract a number of users as they are dealing mostly with revenues from larger deals. Even though adoption rates and market size can be hard to distinguish at Enterprise IaaS, it is still doing fine among its target audience. Instead of taking the scaleout approach of commodity IaaS, enterprise IaaS providers build their clouds using high-end gear. One of trend in Enterprise IaaS is running VMware at the hypervisor layer. This aims to capitalize the frequency of VMware within many corporate data centers. A survey of IT executives shows that hybrid cloud as the top priority. Through this, organizations wont commit entirely to public cloud resources and private cloud resources as they can use either model. Future Trend of Enterprise IaaS On top of the core enterprise IaaS platform, the entrance of IBM into the enterprise IaaS adds diverse services. This includes tools to enable dynamic application development to advanced analytics services. As part of IBMs Smart Cloud offering, it has promised Hadoop processing service in addition to its existing Web Sphere and Cognos services. For enterprise IaaS providers, one challenge would be to harden their clouds for enterprise applications. In order to attract more enterprise developers, they have to loosen access to their platforms. The hybrid model for IaaS developers could be another option. 3. Platform as a Service The huge financial investment that Paas gained in the past years proved that is continues to gain popularity. Everyone needs a service that promises to fundamentally alter the way applications are developed, deployed and managed. Still, it remains to be dependent on individual developers, web startups and enterprise developers. Developers are flocking to Paas for their enterprise applications. Microsofts Windows Azure platform is at the center of its cloud efforts that has attracted a number of customers. Among them are Toyota, the Associated Press and Intuit. On the first half of 2011, PaaS providers address the concern about lack of control and lack of choice. Based from the survey, Complexity is the major issue that PaaS seeks to eliminate; followed by Interoperability and Lock-in. Future Trend of Paas The convergence of these trends the investments by large vendors, the advances in control and choice, and the increasing popularity of web and mobile applications are the biggest drivers of PaaS adoption. Microsofts success with Windows Azure suggests the possibility of success for VMware, Red Hat and Salesforce.com as they continue to use PaaS application platforms. It is also interesting to see Google App Engine as PaaS adoption picks up. Google promises more features will make their way into the standard App Engine. 4. Software as Service In terms of users and revenues, Software as a Service, has the biggest share. One good example is the CRM service of Salesforce.coms multi-billion-dollar business. SAP and 490

Oracle are also embracing SaaS for their heavy-duty applications. Some reported that SaaS has inspired everything as a Service, where any IT process or application or business function is available as a service. Gartner estimated SaaS to reach $10.7 billion in 2011. Another analyst firm, IDC, predicts a $72.9 billion cloud services market by 2015.GigOMs survey reveals that 61 percent derive their revenues primarily from SaaS subscription fees; and 74 percent identified a SaaS offering as the cloud computing services they are using. Future Trend of Software as Service Aside from the endless emergence of new applications, SaaS will focus on integration of data and services. This integration could prove to be a valuable offering that will address the growing number of cloud services. Most survey results reveal that users of multiple SaaS applications plan to increase their usage over time; which is both a challenge and an opportunity for data-integration vendors. As SaaS use grows, data virtualization can pick up its momentum by incorporating data from mobile devices and other end-user derived sources. SaaS providers must also find ways to work tightly in integrating data among applications.

CONCLUSION Cloud computing is the latest megatrend in information technology (IT) industry. Although definitions still vary greatly, it could be loosely described as the delivery of software and hardware as services over the Internet. Cloud computing has been described as a technological change brought about by the convergence of a number of new and existing technologies. It is widely believed that cloud computing is a new disruptive computing paradigm however, defining what cloud computing actually means and understanding how it affects the industry remains still rather unclear because both industry and academia largely lack exact understanding and consensus of the nature and scope of this phenomenon.

ENFORCING SECURITY IN AN INTER CLOUD ENVIRONMENT USING HIERARCHICAL KEY GENERATION ALGORITHMS
R.MEENAKSHI,Asst.Profesor, Dept of MCA, Fatima College, Madurai B.USHA, Asst. Professor, Dept of MCA, Fatima College, Madurai Abstract - Cloud Computing is a new computing model that distributes the computing missions on a resource pool that includes a large amount of computing resources. Private clouds, also called inter clouds, are the private networks that offer cloud computing services for a very restrictive set of users within internal network. The user who wants to access services from different clouds needs multiple digital identities from different clouds, which will bring inconvenience for users. In an inter cloud environment where the number of users and number of clouds are more, chances of eavesdropping and alleviating users becomes more.. In this paper, we propose a method for collaborative key agreement among users of inter clouds using hierarchical key management algorithms. The users of the inter cloud generate a shared key for information interchange. Also, this paper shows how the users and servers in the inter cloud can generate secret session key and authenticate each other with a simple way of hierarchical key management techniques. Keywords key management, inter cloud Introduction 491

Cloud Computing is a new computing model that distributes the computing missions on a resource pool that includes a large amount of computing resources. It is the result of development of infrastructure as a service (IAAS), platform as a service (PAAS), and software as a service (SAAS). With broadband Internet access, Internet users are able to acquire computing resource, storage space and other kinds of software services according to their needs. In cloud computing, with a large amount of various computing resources, users can easily solve their problems with the resources provided by a cloud. This brings great flexibility for the users. Using cloud computing service, users can store their critical data in servers and can access their data anywhere they can with the Internet and do not need to worry about system breakdown or disk faults, etc. Also, different users in one system can share their information and work, as well as play games together. Many important companies such as Amazon, Google, IBM, Microsoft, and Yahoo are the forerunners that provide cloud computing services. Recently more and more companies such as Sales force, Face book, YouTube, MySpace etc. also begin to provide all kinds of cloud computing services for Internet users. There are mainly three main types of clouds, private clouds, public clouds and hybrid clouds. Private clouds, also called internal clouds, are the private networks that offer cloud computing services for a very restrictive set of users within internal network. For example, some companies and universities can use their internal networks to provide cloud computing services for their own users. These kinds of networks can be thought as private clouds. Public clouds or external clouds refer to clouds in the traditional sense, such as enterprises that provide cloud computing services for the public users. Hybrid clouds are the clouds that include multiple private and/or public clouds. Providing security in a private cloud and a public cloud is easier, comparing with a hybrid cloud since commonly a private cloud or a public cloud only has one service provider in the cloud. Providing security in a hybrid cloud that consist multiple service providers is much more difficult especially for key distribution and mutual authentication. Also for users to access the services in a cloud, a user digital identity is needed for the servers of the cloud to manage the access control. While in the whole cloud, there are many different kinds of clouds and each of them has its own identity management system. Thus user who wants to access services from different clouds needs multiple digital identities from different clouds, which will bring inconvenience for users. Identity-based cryptography is a public key technology that allows the use of a public identifier of a user as the users public key. Hierarchy identity-based cryptography is the development from it in order to solve the scalability problem. Recently identity-based cryptography and hierarchy identity-based cryptography have been proposed to provide security for some Internet applications. Security in Cloud Computing Cloud computing have many advantages in cost reduction, resource sharing, time saving for new service deployment. While in a cloud computing system, most data and software that users use reside on the Internet, which bring some new challenges for the system, especially security and privacy. Since each application may use resource from multiple servers. The servers are potentially based at multiple locations and the services provided by the cloud may use different infrastructures across organizations. All these characteristics of cloud computing make it complicated to provide security in cloud computing. To ensure adequate security in cloud computing, various security issues, such as authentication, data confidentiality and integrity, and non-repudiation, all need to be taken into account. Currently, WS-Security service is wildly used in the cloud to provide security for the system. In WS-Security, XML encryption and XML signature are used to provide data 492

confidentiality and integrity. Mutual authentication can be supported by adding X.509 certificate and Kerberos tickets into SOAP message header. As mentioned earlier, there are three types of clouds in general: private cloud, public cloud and hybrid cloud. In a public cloud, resources are dynamically provisioned on a finegrained, self-service basis over the Internet. Services in the cloud are provided by an off-site third-party provider who shares resources and bills on a fine-grained utility computing basis. While in most private clouds, with limited computing resources, it is difficult for a private cloud to provide all services for their users, as some services may more resources than internal cloud can provide. Hybrid cloud is a potential solution for this issue since they can get the computing resources from external cloud computing providers. Private clouds have their advantages incorporation governance and offer reliable services, as well as they allow more control than public clouds do. For the security concerns, when a cloud environment is created inside a firewall, it can provide its users with less exposure to Internet security risks. Also in the private cloud, all the services can be accessed through internal connections rather than public Internet connections, which make it easier to use existing security measures and standards. This can make private clouds more appropriate for services with sensitive data that must be protected. While in a hybrid cloud, it includes more than one domain, which will increase the difficulty of security provision, especially key management and mutual authentication. The domains in a hybrid cloud can be heterogeneous networks, hence there may be gaps between these networks and between the different services providers. Even security can be well guaranteed in each of private/public cloud, while in a hybrid cloud with more than one kind of cloud that have different kinds of network conditions and different security policies, how to provide efficient security protection is much more difficult. For example, cross domain authentication can be a problem in a hybrid cloud. Security in inter cloud using hierarchical keys A secret sharing scheme is a method which distributes shares of a secret to a set of participants in such a way that only specified groups of participants can reconstruct the secret by pooling their shares. Secret sharing is related to key management and key distribution. These problems are common to all crypto-systems. Secret sharing is also used in multi-party secure protocols. Further, secret sharing schemes have natural applications in access control and cryptographic key initialization. For symmetric encryption to work, the two parties to an exchange must share the same key, and that key must be protected from access by others. Furthermore, frequent key changes are usually desirable to limit the amount of data compromised if an attacker learns the key. Therefore, the strength of any cryptographic system rests with the key distribution technique, a term that refers to the means of delivering a key to two parties who wish to exchange data, without allowing others to see the key.

The figure below illustrates a possible key tree with six members M1 to M6. For example, member M1 holds the keys at nodes 7, 3, 1, and 0. The secret key at node 0 is the group key of this peer group.

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The node ID of the root node is set to 0. Each non leaf node consists of two child nodes whose node IDs are given by 2v+1 and 2v+2 . Based on the DiffieHellman protocol, the secret key of a non-leaf node can be generated by the secret key of one child node of v and the blinded key of another child node of v. Mathematically, we have Unlike the keys at non leaf nodes, the secret key at a leaf node is selected by its corresponding group member through a secure pseudo random number generator. Since the blinded keys are publicly known, every member can compute the keys along its key path to the root node based on its individual secret key. Every member Mi generates its own secret key and all the secret keys along the path to the root node. For example, member M1 generates the secret key K7 and it can request the Blinded key BK8 from M2, BK4 from M3, and BK2 from either M4, M5, or M6.Given M1s secret key K7 and the blinded key BK8, M1 can generate the secret key K3 according to the above given formula. Given the blinded key BK4 and the newly generated secret key K3, M1 can generate the secret key K1 based on given formula. Given the secret key K1 and the blinded key BK2, M1 can generate the secret key K0 at the root. From that point on, any communication in the group can be encrypted based on the secret key (or group key) K0. To provide both backward confidentiality (i.e., joined members cannot access previous communication data) and forward confidentiality (i.e., left members cannot access future communication data), rekeying, which means renewing the keys associated with the nodes of the key tree, is performed when-ever there is any group membership change including any new member joining or any existing member leaving the group. We implement the Diffie-Hellman tree based protocol to generate the group key. The tree we describe here is a binary tree where in a parent node gives rise to 2 child nodes. The private key of the leaf nodes are decided by the particular group member. The member makes a request for the public key of other child node. And once it gets it, with the knowledge of the public key of 1 child node and the private key of the other we can get the private key of its parent node using the Diffie Hellman algorithm. Similarly on preceding higher the tree we can get the private key of the root node which is said to be the group key of the work group. The private key of the root node becomes the secret key of the clouds that are involved in resource transfer. In future, resource sharing among the clouds is made only through the secret key generated. 494

CONCLUSION In an inter cloud environment where the number of users and number of clouds are more, chances of eavesdropping and alleviating users becomes more. The traditional public key cryptography do not provide a strong security for information transfer among the users in an inter cloud. In this paper, we propose a method for collaborative key agreement among users of inter clouds using hierarchical key management algorithms. The users of the inter cloud generate a shared key for information interchange. Compared with the current security approaches, our approach has its advantages in simplifying the public key distribution. Also, this paper shows how the users and servers in the inter cloud can generate secret session key and authenticate each other with a simple way of hierarchical key management techniques. In future, strong authentication protocols can be implemented among the clouds for secured resource sharing. References H.Harney and C.Muckenhirn. Group key management protocol (GKMP) specification. RFC 2093, July 1997. Debby M. Wallner, Eric J. Harder, and Ryan C. Agee. Key management for multicast: Issues and architectures. RFC 2627. Chung KeiWong, Mohamed Gouda, and Simon S. Lam. Secure group communications using key graphs. IEEE/ACM Transactions on Networking, 2000. Luis M. Vaquero, Luis Rodero-Merino, and Rajkumar Buyya, Dynamically Scaling Applications in the Cloud, Computer Communication Review. Saurabh Kumar Garg, Chee Shin Yeo, Arun Anandasivam, and Rajkumar Buyya, Environment-Conscious Scheduling of HPC Applications on Distributed Cloudoriented Data Centers, Journal of Parallel and Distributed Computing (JPDC). Amir Vahid Dastjerdi, Saurabh Kumar Garg and Rajkumar Buyya, QoS-aware

3 RS IN KNOWLEDGE PROCESS OUTSOURCING INDUSTRY RESASONS, RISKS AND REWARDS

DR. J. SENTHIL VELMURUGAN.Assistant professor, PRIMS, Periyar University S. SUSILA. Research Scholar PRIMS, Periyar University ABSTRACT There are many reasons the companionship outsource their work. But the primary reason is the cost wounding. In India, Many of the service providers are ready to provide their work and knowledge in cheaper cost. In outsourcing, maximal the providers handling functions are such as pay roll, data entry, invoice preparation, Tele calling Inbound and outbound etc. These works are more confidential. So both companies are signed in agreement for protection purpose. The outsourcing companies have specialized tools, facilities and perfectly trained employees - as a result the service providers done their work efficiently. When companies outsource their work, it is able to concentrate core business issues the details are taking care of by specialists, and companys own management professionals have more time and resources at hand for working on the most crucial issues within the company. Outsourcing is also an excellent option to company that plans to expand geographically, and 495

the company can concentrate on starts its operations in a different country minimal expensively through a local provider. INTRODUCTION India is hale and hearty gifted with large pool of skilled manpower, like chartered accountants, doctors, MBAs, lawyers, research analysts, etc., which would help to add value to the global outsourcing business and its high-end processes like valuation research, investment research, patent filing, legal and insurance claims processing, online teaching, media content supply, etc. This advantage, along with multi-lingual capabilities and advantages of lower costs, can help the country to emerge as a front-runner in Outsourcing on the global platform. While the companies outsourcing their work, there the contract is play a vital role. The contract can reach the prospect levels are millions and billions of dollars. Its common for the clients employees to be transferred to the vendor company. The high playing companies are like IBM, HP, EDS and Accenture are some of the leading service providers in India. The company outsourcing work / knowledge goes about the four steps the first step - it has to develop the strategy for outsourcing. It means the companies have to first of all identify its business case for outsourcing and too have a clear idea of the role of outsourcing in its business. Second step is to evaluate the potential service providers and decide the projects and locations to work. The third step is contract development It means when the buyer and vendor negotiate and settle on legal, pricing and service level agreement terms. Kinds of Outsourcing There are two broader types of outsourcing viz. Information Technology Outsourcing (ITO) and Business Process Outsourcing (BPO). Also The BPO divided into various types like call centre outsourcing and Human Resource Outsourcing, Finance and Accounting Outsourcing, and Claims processing outsourcing. The Indian IT and BPO service sectors has been able to build a strong reputation for its high standards of service quality and information security, which has been acknowledged worldwide and also helped to enhance buyer's confidence. The industry is continuing this trend by combining provider and industry-level initiatives as well as by generating greater awareness and facilitating wider adoption of standards and best practices. It is moving to provide high-value services to its clients slightly than just diminishing / saving costs. Benefits of Outsourcing Reduce and Control Operating Costs Improve Company focus Gain access to world-class capabilities Free internal resources for other purposes Resources are not available internally Accelerate reengineering benefits Make capital funds available Share risks Cash infusion

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Causes in choose the service provider: In above you have seen the risks and rewards associated with outsourcing. Before signed the contract with the service providers the manager of the company must consider following steps strictly. Clearly outline and communicate the goals and objectives of the project with the service providers Before chose the service contributor must know about them undoubtedly. Be firm on a contract or plan that includes all the expectations of the relationship, particularly the fiscal feature. Keep open communication with service provider. Work together and involvement with decision makers.

1.1 THE REASONS FOR OUTSOURCING Most managers have the end-result-in-mind that they are going to save time and/or money. Some of Other reasons are follows Reduce and control operating costs: When the company outsource, get rid of the costs associated with hiring an employee, such as management oversight, training, health insurance, employment taxes, retirement plans etc. Increase access to exceptional capabilities: The Companys return on investment is so much greater, when company outsource information technology to a firm that specializes in the area need. Resources are not available internally: On the other side, if the companies dont have to handle the IT needs and hiring a new employee is not in the budget. HR Outsourcing companies can give a feasible alternative for the temporary and the long-term. Maximize restructuring benefits: When the company need to restructuring the costs, quality, service, or speed, and non-core business functions may get pushed aside the outsourcing is a most favorable way to do this. Build the capital funds accessible: By outsourcing non-core business functions, the company can spend the capital funds on items that are directly related to company product or customers. Moderate Risk: Keeping up with technology required to run the business is exclusive and time consuming. Because professional outsourced IT providers work with multiple clients and need to keep up on industry best practices, they typically know what is right and what is wrong. This type of knowledge and experience dramatically reduces the risk of implementing a costly incorrect decision. 1.2 THE RISKS IN OUTSOURCING: COSTS: First and foremost you need to be wary of some hidden costs of outsourcing that are usually skipped by some negotiators, especially when outsourcing to countries overseas. Always inquire about the legal costs of signing contracts and time to spend on contract coordinating. QUALITY: Taking cautious steps is essential to help prevent you from committing mistakes while outsourcing your software development. The first thing that you must do is to try your best to choose the right company. Looking for the cheapest solutions may backfire as the cheapest does not guarantee quality. Find an experienced company. Contact their clients so that you will know if they offer quality outsourcing services like website architecture. 497

BARRIERS: There are other non-financial problems to outsourcing with another country time zone differences, language barriers, unexpected cultural differences, and the necessity for data security are all areas that could make your off shoring more of a hassle than your financial savings are worth. In fact many US companies only save about twenty-five percent which is very comparable to savings which may be acquired through remaining outsourcing domestically to a financially depressed region. RESPONSIBILITIES DELEGATED: Another problem with outsourcing of any kind today is what responsibilities are being outsourced. Many companies end up outsourcing crucial core company functions, like accounting and even secretarial services.

1.3 THE REWARDS IN OUTSOURCING 1. COST SAVINGS: Outsourcing services provides financial benefits such as leaner overhead, bulk purchasing and leasing options for hardware and software, and software licenses, as well as latent compliance with government regulations. 2. HIGH QUALITY OF STAFF: When the service providers look to hire suitable candidate with specific qualifications and certifications. The HR Outsourcing Company helps to find the qualified staff. 3. FLEXIBILITY: The Service providers have numerous resources available to them, while internal staff may have limited resources and capabilities. 4. JOB SECURITY AND BURNOUT REDUCTION FOR REGULAR EMPLOYEES: The Outsourcing Company eradicates the burden to clients staff who has taken on more than he or she was hired for because "someone needs to do it." CONCLUSION Outsourcing is becoming more and more popular in todays business environment; generally companies forward the non-core works to outsourcing company. The outsourcing services are Pay roll, Tele calling (inbound and outbound), invoice preparation, Data Management etc. On top - finely explained three Rs are should keep in mind while choosing the client for outsourcing the work. The outsourcing firms called in different names as vendors, third party providers, service providers. Outsourcing is the most excellent way for cost reduction and the same time can get finest work from service providers.

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OCCUPATIONAL STRESS A STUDY ON TEACHERS WORKING IN SELF FINANCING COLLEGES IN CHENNAI J. VIJAYA SHANTHI, Lecturer, Dept of Commerce, Anna Adarsh College, Chennai 040 & Research Scholar (Commerce),Bharthiyar University, Coimbatore

INTRODUCTION Today the environment is characterized by three Cs namely change, challenge and competition. In this tough and challenging competitive environment, it is very essential not only to survive but also to emerge as winners the only key to stay in competition in the long run. Educational institutions are no exceptions to this phenomenon. To serve this purpose the strongest assets available to organizations are its human resources, that is the teachers who are the sources of ample amount of information and knowledge. Teaching profession is generally considered as a noble profession with lots of expectations from various sections of the society. Many assume that teaching profession is the least stressful careers. Although not highly paid in comparison to professionals in the commercial sector, academics have been envied for their tenure, light workloads, flexibility and the freedom to pursue their own research interests. However during the past two decades many of these advantages have been eroded. Like many other organizations with changes in trend and expectations the teaching career also carries a huge amount of stress. Greater part of stress is associated with the rapid pace of changes in education in the last decade. (Gillespie.N.A et al 2001) Increasing numbers of academic positions are now untenured, workloads have increased and academics are under increasing pressure to attract external funds. Teacher stress can be explained as the experience by a teacher of unpleasant, negative emotions, such as anger, anxiety, tension, frustration, or depression, resulting from some aspect of their work as a teacher. (Kyriacou 2001) Sources of stress for an individual may be due to the following factors Lack Of Clearly Defined Roles And Responsibilities Lack Of Autonomy, Poor Leadership and recognition Lifestyle Factors and conflict between work and personal life Monotonous Job Economic And Technological Factors Administrative Policies And Procedures The consequences that individuals confront from stressful situation take the form Heart disease, cause hypertension and high blood pressure and impairs the immune system. Strokes, irritable bowel syndrome, ulcers, diabetes, muscle and joint pain, miscarriage during pregnancy, allergies and even premature tooth loss. Reduces brain functions such as memory, concentration and learning all of which are central to effective performance at work.

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NEED FOR THE STUDY Providing education to all is one the policies of the Government. Need for education at the primary level and at higher level is important to mould the youth of the country. Teachers play a vital role in the creation and development of knowledge and innovation, in addition to education and training. A teacher is expected to be seen as a counselor to both students and parents, sometimes as a nurse, a social worker even to some extent a parent in certain occasions. An academician can work to the fullest extent only if he/she is stress free. Teaching like other professions involves stress as an inevitable tool of challenges, flavor, and change which adds zest for living. Attracting developing and retaining future teachers as nation builders are major concerns to the various stakeholders in education. (Alaba .O. Agbatogun 2010) It is important to study and manage the source of stress in teachers rationalistically as they have the important duty of educating individuals. Although considerable research has studied stress, further research is warranted to identify new factors that might mediate job stress. The study was carried out in order to enable a better understanding of occupational stress among the teachers in self financing colleges. OBJECTIVES OF THE STUDY 1. To identify the predominant factors that causes stress. 2. To identify the consequences of stress of teachers. 3. To study the relationship between sources and consequences of stress. RESEARCH METHODOLOGY SAMPLE 600 teachers working in self financing Arts and Science Colleges were selected through simple random sampling method and questionnaires were distributed. 550 questionnaires were returned out of which 40 were unusable. Therefore the sample size was 510. TOOL The information was mainly collected from primary sources, through questionnaire instrument. RESULTS AND DISCUSSION The analysis of the data collected is represented in tabular form along with the interpretations.

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DEMOGRAPHIC DETAILS OF RESPONDENTS Table1 Table showing demographic details of respondents

DEMOGRAPHIC VARIABLES GENDER MALE FEMALE AGE UNDER 26 26-35YRS 36-45 YRS 46-55YRS EDUCATIONAL QUALIFICATION M.PHIL PhD NET/SLET DESIGNATION ASSISTANT PROFESSOR HEAD OF THE DEPARTMENT ASSOCIATE PROFESSOR

NO OF RESPONDENTS

270 240

58 315 106 31

370 52 88

378 100 32

WORK EXPERIENCE LESS THAN 5YRS 5-10YRS 10-15YRS 15- 20 YRS MONTHLY INCOME LESS THAN 10000 10000-15000 15000-20000 20000-25000 25000-30000 GREATER THAN 30000 MARTIAL STATUS SINGLE MARRIED

196 194 78 42

142 178 106 43 18 23

158 352

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FACTORS INFLUENCING STRESS To identify the factors influencing stress factor analysis by Principal component method is used. Table 2 Table showing Rotated Component Matrix of Job Related Statements Component 1 2 3 VAR00007 .772 VAR00008 .767 VAR00006 .657 VAR00009 .553 VAR00003 .534 VAR00002 .434 VAR00011 .747 VAR00012 .737 VAR00013 .698 VAR00010 .509 VAR00005 .789 VAR00004 .717 VAR00001 .694 Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a Rotation converged in 5 iterations. From the above table it is found that three factors are derived out of thirteen variables of job related statements. The following variable loadings are useful to name the factors. The factor comprises three variables. 1. Marking exam scrip (.747) 2. Dealing with students discipline(.694) 3. Lack of co operation from students(.657) 4. Larger classes/more students(.434) From the above values this factor is known as Student Related Stressors. Similarly the second factor is the composition of variables namely 1. Dealing with new methods of teaching (.789) 2. Frequent changes in subject allocation (.772) 3. Teaching new/additional courses (.717) 4. Frequent changes in syllabus (.534) 5. Hence this factor is labeled as Innovative Approaches. The third factor is made up of five variables. 1. Inconvenient and frequent changes in time table (.767) 2. Need to hit target/deadlines (.737) 3. Staying back after the regular timings to finish the lab classes (.698) 4. Unable to plan working day (.553)

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5.

Dealing with administration work (.509)

Therefore this factor is known as Job Accomplishment Stressors. It could be concluded that the college teachers in arts and science colleges in Chennai city are highly inclined for the afflictions of job related stressors. The factor analysis by principal component method identified for predominant factors directly creating stress among college teachers based on their job related assignments. CONSEQUENCES OF STRESS The consequences of stress were identified through the health related variables by principal component method and the following results were obtained. Table 3 Table showing Rotated Component Matrix health Related Variables Component 1 2 VAR00010 .717 VAR00008 .716 VAR00009 .716 VAR00011 .716 VAR00006 .656 VAR00012 .613 VAR00007 .592 VAR00005 .575 VAR00013 .555 VAR00002 .822 VAR00003 .784 VAR00001 .754 VAR00004 .617 Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a Rotation converged in 3 iterations. Two factors are resulting out of thirteen variables of health problem statements. To name the factors the following variable loadings were used. The first aspect encompass of the following: 1. Feel irritated and frustrated (.822) 2. Often get angry (.784) 3. Have frequent arguments (.754) 4. Work has led to depression (.716) 5. Have feeling of helplessness (.617) Hence this factor is coined as Psychological Health Problems Likewise the second factor embraces of the following:

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1. 2. 3. 4. 5. 6. 7. 8. 9.

Breathing and other related problems have been developed (.717) Have difficulty in sleeping (.716) Have developed stomach related problems such as indigestion, ulcers and change in appetite(.716) Prone to headache/migraine (.656) End of the day feel fatigued (.613) Blood pressure has increased (.592) Have neck/shoulder pain due to anxiety (.575) There is an increased consumption of tobacco/alcohol (.555) Therefore this factor is known as Physiological health problems.

RELATIONSHIP BETWEEN SOURCES AND CONSEQUENCES OF STRESS Karl Pearson coefficient of correlation is used to obtain the parametric relationship between sources and effects of stress. Table4 Table showing Relationship between Sources and Consequences of stress Physio-logical Psychological effects effects Pearson .170(**) .148(**) Correlation Student Related Sig. .001 .004 Stressors (2- tailed) N 383 383 Pearson .150(**) .212(**) Correlation Innovative Sig. .003 .000 Approaches (2-tailed) N 383 383 Pearson .073 -.009 Correlation Job Accompli- Sig. .155 .855 shment Stressors (2-tailed) N 383 383 * Correlation is significant at the 0.05 level (2-tailed). ** Correlation is significant at the 0.01 level (2-tailed)

From the above table it is found that student related stressors are positively correlated to psychological effects (r=0.170) is statistically significant at 5% level. Therefore it is concluded that the self financing teachers develop psychological effects due to student related stressors. The above table shows that student related stressors are positively correlated to physiological effects (r=0.148) and at 5% level it is statistically noteworthy. Thus it can be said that owing to student related stressors self financing teachers develop physiological effects.

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It is inferred that innovative approaches stressors are positively correlated to psychological effects (r=0.150) is statistically significant at 5% level. Hence it is concluded that the self financing college teachers develop psychological effects due to innovative approaches. Innovative approaches stressors are positively correlated to physiological effects (r=0.212) is statistically significant at 5% level. Henceforth it can be said that the self financing college teachers develop physiological effects due to innovative approaches. FINDINGS The research was primarily an empirical examination of the causes and consequences of stress of teachers in self financing colleges. Some of the crucial findings of the study are. 1. 2. 3. Among the student related stressors marking exam scrip followed by dealing with student discipline were the major factors responsible for stress. In relation to the innovative approaches dealing with new methods of teaching followed by frequent changes in subject allocation were the stressors Inconvenient and frequent changes in time table followed by need to hit target/deadlines were the major factors responsible for stress among the job accomplishment stressors. the major psychological health problems faced by the teachers are feeling irritated & frustrated and often getting angry. Breathing problems, having difficulty in sleeping and developing stomach related problems are the predominant physiological health problems. Student related stressors and innovative approaches stressors have lead to psychological and physiological consequences. But the job accomplishment stressors did not lead to any consequence of stress.

4. 5. 6.

CONCLUSION The problem of stress is inevitable and unavoidable in the educational institutions. This sector which was once considered as the stress free sector is now prone sector. Both the individual and organization can take appropriate coping strategies. Managing stress should be a responsibility of the individuals also. The most important thing for individuals to remember is that stress is created by peoples reactions to situations, rather than the situation. It involves recognising the stressors or the factors that causes stress and affects health. Individuals have to identify certain stress symptoms and relate it with the stress situation that one is going through. Then adopt lifestyle techniques of stress management and seek medical help when it becomes necessary. Management must take several initiatives in helping their employees overcome its disastrous effect, as otherwise this would ultimately affect their performance and presence in a competitive market. Efforts should be made to provide a common platform to the teachers where they get an opportunity to develop them and project their potential talent.

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REFERENCES Alaba Olaoluwakotansibe Agbatogun (2010), Teachers Management of Stress Using Information and Electronic Technologies, Journal of Social Sciences, 24(1) pg 1-7. 2. Aziz.M (2004), Role Stress Among Women in the Indian Information Technology Sector, Women in Management Review, Vol 19 issue 7 pg. 356-363. 3. Beeh.T.A and J.E.Newman (1978) Job Stress-Employee Health and Organisational Effectiveness, Winter Publication pg 665-669 4. Dwivedi.R.S.(2001), Human Relations and Organisational Behaviour, Macmillan India Ltd, New Delhi. 5. Fred Luthans and Mc.Graw (2002), Organisation Behaviour, Mc.Graw Hill Publication 6. Gillespie N.A, M. Walsh, A.H.Winefield, J.Dua and C.Stough (2001), Occupational Stress in Universities: Staff Perceptions Of The Causes, Consequences And Moderators Of Stress, Work and Stress Vol.15, No.1, 53-72. 7. John.M.Ivancevich & M.T.Mattesan (1993) Organisation Behaviour & Management, Irwin Burr Ridge pg244 8. Kyriacou.C (2001) Teacher stress: Directions for future research. Educational Review, 53(1), 27-35. 9. Leemamaol Mathew (2005), An Exploratory Study on Occupational Stress And Coping Strategies of Special Educators in South India. 10. Mokdad.M (2005), Occupational Stress among Algerian teachers, African Newsletter on Occupation Health and Safety, pg 46-57. 11. Nwadiani Mon(2006), Level Of Perceived Stress Among Lecturers In Nigerian Universities, Journal of Instructional Psychology, pg.1-8. 12. Schuler.R.S (1980), Definition and Conceptualisation of Stress in Organisation, Organisational Behaviour and Human Performance pg.189 WEBSITES www.usdaw.org.uk www.ucu.org.uk/media/docs/i/s/stress tool-question.doc www.york.ac.in www.answers.com/topic/stress www.stress.org http://agency.osha.eu.int/publications/reports/stress http://int.osha.eu.int/good_practice/risks/stress CRISIS IN INDIAN HIGHER EDUCATION SECTOR Dr.R.SARADHAMANI, Associate Professor, Department of Management Studies, Miss.M.KEERTHANA, II MBA, Department of Management Studies, SNS College of Engineering ABSTRACT Ultimate aim of human endeavors is to avoid privation and suffering and to attain prosperity and happiness. The Education System (ES) has to prepare students for life towards achieving that objective: a) by giving stockholders appropriate knowledge and skills to become productive citizens in the various sectors of economic and social life, b) by instilling in them ethical and moral values for enabling them to conduct themselves with proper attitude in 1.

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society, promoting progress and happiness. Presently, the author strongly believes that Indian ES is essentially one of transmission of knowledge and imparting skills for earning a living. Higher education cannot be reduced to mere economic instrumentality with its sole focus on equipping students with the practical skills needed by employers. Nor should the purpose of our higher education be simply to produce engineers and scientists able to compete with the Chinese. Reduction of learning to job skills rather than an inquiry into the larger issues of life can be disastrous in the long run. India will have to nurture learning for its own sake and to foster other less quantifiable and profitable but still valuable features of higher education. The current research paper aims to draw an introspective analysis on four streams of business management that could be used to well groom the modern business management learner. The higher education sector in India is plunging into deep crisis and fast turning into a saleable commodity like onions and potatoes - Dr.Prabhat Patnaik,Former Vice Chairman of Kerala State Planning Board. Introduction India is increasingly being viewed as an emerging global power, a power that will shape the global balance of power in the 21st century. There are enormous obstacles, however, that India will have to overcome in order to sustain its present trajectory of economic growth. One of the most significant of which is the crisis in Indias higher education system, something that goes unnoticed amid the glare of the engineers, doctors and managers that seems to be emerging from Indias premier professional institutions such as the Indian Institutes of Technology and Indian Institutes of Management. To rectify this, the Indian government has proposed to set up a dozen new so-called worldclass universities, in addition to 16 new Central universities, in an effort to expand quality higher education in India. The blueprint has been formulated by the University Grants Commission and it is expected that the government will be able to place the enabling legislation before the next session of the Parliament. These world class universities will have an all-India common entrance examination, a student-count not exceeding 12,000, the best of faculty with incentives over and above regular pay, a curriculum revised every three years, a semester system, private sector funding, vice-chancellors with at least decade-long teaching experience, collaboration with universities and institutes in India and abroad, academic creativity free from red-tapism. Education has been placed at the centre of the forthcoming 11th Five-Year Plan, described as Indias education plan. The outlay for education is being increased from 7.7 per cent of the total gross budgetary allocations in the 10th Plan to more than 19 per cent in the 11th Plan with an unprecedented five-fold increase in education spending in nominal terms. Again, the Prime Minister has repeatedly emphasized the need for reforms in the universities and called for a new revolution in modern education with an emphasis on a quantum jump in science education and research. The National Knowledge Commission, a high-level advisory body established by the Prime Minister to recommend changes in the higher education system with the objective of transforming India into a knowledge society, has also underlined the need that Indias higher education system needs a systematic overhaul. But little of substance seems to have changed on the ground. Knowledge is the key variable that will define the global distribution of power in the 21st century and India has also embarked on a path of economic success relying on its high-tech

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industries. But given the fragile state of Indias higher education system, it is not clear if India will be able to sustain its present growth trajectory. While Indias nearest competitor, China is re-orienting and investing in its higher education sector to meet the challenges of the future, India continues to ignore the problem as if the absence of world-class research in Indian universities is something that will rectify itself on its own. While India may be producing well-trained engineers and managers from its flagship IITs and IIMs, it is not doing so in sufficient numbers. There is also a growing concern that while private engineering and management institutions are flourishing due to their rising demand, their products are not of the quality that can help India compete effectively in the global marketplace. India has the third largest higher education system in the world, behind only the US and China, that is churning out around 2.5 million graduates every year. Not only is this just about 10 percent of Indias youth but the quality of this output is also below par. If we leave aside the IITs, the IIMs, and some other institutions such as the All India Institute of Medical Science, the Indian Institute of Science, and Tata Institute of Fundamental Research, we will find a higher education sector that is increasingly unwilling and unable to bear the weight of the rising expectations of an emerging India. The Indian universities, which should have been the centre of cutting edge research and hub of intellectual activity, are more in the news for political machinations than for research excellence. Years of underinvestment in higher education and a mistaken belief in providing uniform support to all universities irrespective of their output has made sure that neither the academics have adequate support to provide top-quality education to their students nor do they have any incentive to undertake cutting-edge research. India desperately needs research-oriented globally recognised universities to be able to participate in the modern-day knowledge-based global economy to its full potential. A crisis in the university, the home of reason, is perhaps the profoundest crisis for a democratic nation. Though the crisis that he was drawing attention to arose from a different set of issues facing the US academia in the 1960s and 1970s, the present crisis in the Indian universities is equally profound and has the potential to directly affect the future of India. Business does not exist and operate in vacuum. Firms and corporations function in the social and natural environment. By virtue of existing in the social and natural environment, business is obligated to be accountable to the natural and social environment in which it survives. Irrespective of the demands and pressures upon it, business, by virtue of its existence, is obliged to be ethical, for at least two reasons. Firstly, whatever the business accomplishes has repercussions on its stakeholders. Secondly, every juncture of action has trajectories of ethical as well as unethical paths and the existence of a business is justified by the ethical alternatives it responsibly selects. One of the conditions that brought business ethics to the forefront is the demise of small scale, high trust and face-to-face enterprises and emergence of huge multinational corporate structures capable of drastically affecting everyday lives of the masses. Need for Changes in Educational Pattern In modern world the Education System (ES) has to prepare students for life towards achieving that objective: a) by giving stockholders appropriate knowledge and skills to become productive citizens in the various sectors of economic and social life, b) by instilling in them ethical and moral values for enabling them to conduct themselves with proper attitude in society, promoting progress and happiness. In fact, all the Education

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Commissions and eminent Educationists have declared that the real aim of Education is primarily character building with humane values. But Indian Education System has not given any importance so far to this aspect of education. Quality of Learning in the modern day environment stands on three pillars: A proven scientific methods of delivery; Robust IT systems to make learning Interactive, efficient and more easily accessible; and Sustainability in the future global environment. Learning is a continuous process. It is also the source of knowledge. Knowledge is the driving force behind the growth of sciences and intellectual endeavors, which in turn makes the development of modern technology possible. The ability to learn may be one of life's greatest joys, fed by the inborn curiosity of the human mind. Higher educational institution and professional colleges, universities and B-school should sustain, cultivate and enrich this invaluable feature of human nature. The ultimate purpose of most educational effort is to stimulate the desire to learn and to discover how to look for novel and original ideas to help solve the endless flow of incoming problems of modern life. The fulfillment of this purpose is essential in the training of future professionals. If academia does not fulfill this purpose, then the education system has failed in its duty. Cognitive value of the learning cycle should be carefully analyzed and the teaching techniques adjusted to suit the particular phases of the cycle. One such possibility is offered by the work of Kolb, who identified four principal learning styles or types. Kolb's theory has been developed for the purpose of teaching professional education and has been successfully applied to various teaching situations. Teachers need a great deal of motivation when it comes to implementing technology in the classroom. Technology can be very intimidating for many teachers because introducing technology almost always requires new learning. Teachers may lack the time and motivation to learn technology skills. The integration of technology into the curriculum will not succeed without giving teachers ample time to practice, explore, conceptualize, and collaborate. While teaching a teacher must understand that work ethos will be different at different levels. Therefore every student has to be trained according to the professional he/she prefer to opt for future living. It can be defined at different levels as under: Following are some features of Indian Socio-political Environment that could be imparted to the B-School professional to bridge the gap between Class Room Learning and Modern Corporate World. 1. Focus on Lifestyle: Management in the Indian social environment defines a standard of living and maximizing quality of life. Here quality of life not only means quality of consumer goods and services but also enrichment in quality of life in the society and the environment. Complete quality of life is a function of the way one thinks, speaks and behaves. Focus towards business policy: Every political party makes policies and businesses have to follow these policies. Policies are made in accordance with current business situations. However, sometimes these policies are not favorable for the business environment. Since every political party has its own ideology. They make the policies according to their own benefits and interests. Existence of Human Orientation and Values: There are many components of National Development activities that require human orientation and values. Human

2.

3.

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4.

values like: hard work, truthfulness, obedience, good manners, peace and harmony are a part of Indian social and political environment. Simple living, High thinking: The essence of Indian way of living is simple living and exalted thinking. Indians prefer to live a simple life so that they can give more energy and thought to the development of spiritualism. Here intelligence is more important than materialistic acquisitions, ethics is more important than economics.

There are two important principles of Indian Model of Management: one is Human Values and other Holism. 1. Human Values: Human values comprise of spiritual, ethical and moral values. These values form a foundation for thoughts, actions, skills and behavior and eventually lead to formation of a good character. These values will create a good man, a good manager, a good organization and ultimately remove disarray from the minds of the people. 2. Holism: Holism refers to the concept of oneness or unity. Holism is much broader than the systems approach to western model of management. A human being has a soul, body, mind and intellect. It is essential that all the above components of our personality are proper and mature. Holism is unity, i.e. the absence of duality; hence the absence of conflict and disharmony. Indian Management Practices 3. Planning: Planning means developing predetermined ideas or strategies for the future and make policies and guidelines to achieve the organizational (short and long-term) goals. 4. Recruitment and Selection: It includes criteria and policies related to recruitment and selection of employees, for instance education, experiences, talent, competences. However, some other factors like favoritism and prejudice play a significant role in the selection process in any organization. 5. Training: It is a systematic procedure for a specific task to be provided to employees. In the Indian socio-political environment, developments are presently underway and importance is being given to adoption of good training programmes to enhance efficiency and productivity of the employees. 6. Delegation of Authority: It is the base of superior-subordinate relationship and involves following steps:v Assignment of Duties: The superior attempts at defining the task and duties of the subordinate. He also defines the result expected from the subordinates. In this step, the superior takes care of the clarity of duty as well as result expected. v Granting of authority: As the superior divides and shares his authority with his subordinates, division of duties take place. The subordinate should get enough independence to perform the task assigned by the superior. This division of power is important to get effective results. v Defining responsibility and accountability: The subordinates should be obligatory towards the duties assigned to them. Responsibility is an obligation of subordinate to carry out his duties in best of his ability as per the directions of superior. Responsibility gives effectiveness to authority. Accountability, on the others hand, is the obligation of the individual to carry out his duties as per the standards of performance. v Commitment and Accountability: Work ethics is also concerned with commitment and accountability. This entails determining how the

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v v v

employee owns up for the tasks assigned to him. He needs to make all possible efforts to accomplish the work within the given time limit and also in an agreeable fashion. Loyalty: Work ethics is also concerned with loyalty towards the organization. This entails not talking negatively about the organization and protecting the interest of the organization at all times and in all situations. Responsibility: People in the organization have different attitudes towards their work. This can be noticed through job delivery, performance, evaluation, career development, formal training etc. Work culture: India is renowned for its solid work culture, which includes: punctuality, proper dress code, proper demeanor and respect towards superiors, peers and subordinates and strict compliance with the rules and regulations of the organization. A good work culture can also be introduced through an effective induction program. Indian B-schools need to incorporate Indian ethos in their management system and Andragogy techniques for the following reasons:

Development of proper management system in the organization: Management systems based on principles as per ancient wisdom are of immense help for the smooth conduct of business. Value-oriented management system can be established with the help of Indian ethos. b. Assurance of all round development, growth and prosperity: All round development entails productivity, marketing and profitability, which can be enhanced by implementing Indian ethos and styles in business practices. c. For Setting Larger Goals: Indian ethos guides us that if we work sincerely for the society, for our organization and for Nature, we will really enjoy our life through money, harmony, peace and bliss. Such deportment would enlighten our image. d. To Build Co-operation between Men versus Machine: Indian wisdom indicates that productivity of human being is more important than the capacity of a machine or plant. Higher education cannot be reduced to mere economic instrumentality with its sole focus on equipping students with the practical skills needed by employers. Nor should the purpose of our higher education be simply to produce engineers and scientists able to compete with the Chinese. Reduction of learning to job skills rather than an inquiry into the larger issues of life can be disastrous in the long run. India will have to nurture learning for its own sake and to foster other less quantifiable and profitable but still valuable features of higher education. If the main goals of higher education are teaching students to think critically, broaden their intellectual horizons and promote self-awareness, then the Indian higher education system should be considered a comprehensive failure. And it is not clear if the government is interested in an overarching overhaul that can stem the rot in the nations higher education system. a. Conclusion Many universities these days more like business corporations focusing on figures, size, resources, reputations, rankings, etc. A degree often viewed as the exit route to a better life style i.e., the beginning of a life journey to know and to serve. By overcoming individual isolation, lacking inter-personal connections etc. Business schools or MBA programs may be accredited by external bodies which provide students and employers with an independent view of their quality, and indicate that the school's educational curriculum meets specific quality standards like: Character/virtue, Integrity/honesty, Trust/Respect,

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Competence/Knowledge, Commitment, Visionary, Optimism, Inspiration, Compassion/Humility, Responsibility/Accountability and Transparency.

Caring,

References Value-Based Management Of Life; http://www.heritagecartman.co.in/artpdf/Value%20Based%20Management%20of%20Life.pdf http://en.wikipedia.org/wiki/Master_of_Business_Administration Simon S.M. HoVice Rector (2010); Value-Based Education and University Ethical Leadership; IAU 2010 Annual Conference; The University of Macau June Amin Elshorbagy and Dieter J. Scho NWETTER (2002); Engineer Morphing: Bridging the Gap Between Classroom Teaching and the Engineering Profession; International Journal Engineering Ed. Vol. 18, No. 3, pp. 295300, Printed in Great Britain. Tempus Publications

APPLYING TIME SERIES METRICS DATA TO SOFTWARE QUALITY ESTIMATION S.SUBHA, Assistant Professor, Department of MCA, Fatima College, Madurai S.AMALA DEVI, Assistant Professor, Department of MCA, Fatima College, Madurai Abstract. In typical software development, a software reliability growth model (SRGM) is applied in each testing activity to determine the time to finish the testing. However, there are some cases in which the SRGM does not work correctly. That is, the SRGM sometimes mistakes quality for poor quality products. In order to tackle this problem, we focused on the trend of time series data of software defects among successive testing phases and tried to estimate software quality using the trend. First, we investigate the characteristics of the time series data on the detected faults by observing the change of the number of detected faults. Using the rank correlation coefficient, the data are classified into four kinds of trends. Next, with the intention of estimating software quality, we investigate the relationship between the trends of the time series data and software quality. Here, software quality is defined by the number of faults detected during six months after shipment. Finally, we find a relationship between the trends and metrics data collected in the software design phase. Using logistic regression, we statistically show that two review metrics in the design and coding phase can determine the trend. Keywords: software quality, time series data, statistical analysis Introduction Software quality assurance is important for not only satisfying the users requirements but also for reducing the cost of software maintenance. As the life cycle of software becomes longer and software is updated many times according to new requirements, software quality becomes more difficult to assure. One of the ways to assure software quality is to reduce the number of faults remaining in software products by sufficient testing (Broekman and Notenboom, 2002; Horch, 2003; Marick, 1995; Marks, 1992). Here, the software quality is considered as the number of remaining faults. For this purpose, estimating the number of remaining faults has become important. Therefore, various methods have been proposed. Generally speaking, these methods are classified into two types: estimation using the product metrics and estimation using the process metrics.

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The methods using the product metrics estimate the number of remaining faults (that is, software quality) by using metrics such as the code size, the complexity, and so on, which are obtained or observed from software products. For instance, Halstead proposed an equation that calculates the number of faults from the complexity of software, which is derived from the source code (Halstead, 1977). Compton et al. proposed an equation that calculates the number of faults from the LOC, which is the well-known size metrics (Compton and Withrow, 1990). Munson and Khoshgoftaar used several metrics related with complexity of program to predict whether the module is fault-prone or not by discriminant analysis in Munson and Khoshgoftaar (1992). Although various methods have been proposed, methods based on product metrics usually estimate the software quality less accurately, whereas methods based on process metrics estimate more accurately, especially in the case of large size projects. The reason for this difference seems that the effect of human factors and the quality of organization, which can be observed by process metrics, are more significant than that of product characteristics, which can be measured by product metrics in large software projects. For example, in CMM (Paulk et al., 1993), the importance of quality of organization, which can be guessed from process metrics but not from product metrics, is especially emphasized. Target projects Characteristics of projects The projects targeted in this paper are the development of computer control systems with embedded software in company A. The software products developed by the projects have the following common characteristics. The systems are related to retail systems, and thus embedded software implements rather complex functions dealing with many sensors, actuators, and control signals including various kinds of interrupts. Furthermore, since the software products are delivered in the form of LSI chips, modification of faults after delivery is very expensive. Thus, high quality is especially required for the embedded software. We use actual project data of 111 projects, which have already finished their development. Each project was carried out between 1995 and 1998. Additionally, we select these projects under certain conditions. First, the total number of faults detected during the test and debug phase exceeds 10. This condition implies that the size of target project is relatively large. Second, the size of product exceeds 4Kstep. This condition implies that the size of product is also relatively large. Third, as in any targeted project, the code review must be performed. Process model In the target projects, the products are developed under a development process as shown in Figure 1. The development process is an ordinal waterfall model. This process consists of two successive phases, namely the design and coding phase and the test and debug phase. The design and coding phase is divided into five activities: Concept design (CD), Function design (FD), Structure design (SD), Module design (MD), and Coding (CO). Each activitiy has a review activity, such as Concept design review (CDR), Function design review (FDR), Structure design review (SDR), Module design review (MDR), and Coding review (CR), to assure software quality. The test and debug phase consists of four activities: Unit test and debug (UT), Integration test and debug (IT), Function test and debug (FT), and System test and debug (ST).

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One characteristic of the design and coding phase is that review activity is introduced after each design activity. A review activity not only improves the quality of the artifacts but also helps software development organizations reduce their cost of producing software (Fagan, 1986). In the review activity, peer review (Bisant and Lyle, 1989) is performed. The SEPG in company A establish several guidelines for the review activity.

Figure 1.Development process. One guideline directs at least 15% of the total effort of design and coding phase to be assigned to review activities (Takagi et al., 1995). The test and debug phase consists of the repetition of a pair of test activity and debug activity. Testing activity is the process of analyzing a software item to detect the differences between existing and required conditions and to evaluate the features of the software items. The SRGM has been used to decide the release time of each testing activity. Debug activity is the process used to detect, locate, and correct faults (International Standard Organization, 1990). The persons engaged in the test and debug phase are directed to record all faults that are detected by the test activity and removed by the debug activity (Tanaka et al., 1995). In order to improve and to assure the quality of the software product, the product needs to be sufficiently tested. Time series data of detected faults Software metrics (1) Frequency of detected faults: DF DF is the number of detected faults normalized by the effort needed for an activity in Figure 1, which is perfomed for detection. This metric indirectly represents the ability of developers and the density of faults. In order to define DF, we introduce the following two parameters D and E, which represent the number of detected faults in an activity and the effort need for an activity (measured by person-day), respectively. By using these metrics, DF for activity is defined as follows: DF = D/E where, denotes one of activities CR, UT, IT, FT, and ST. (2) Field fault density: FFD

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In company A, the field quality of the final product is measured by the metrics named FFD. This metric is defined as follows: FFD = Dfield/Sfinal Here, Sfinal represents the product size and is represented by the unit KLOC and Dfield is defined as the number of faults detected during six months after delivery in company A. Collected data The effort data and faults data are recorded manually, and are stored in workstations by each developer. Next, the data are collected by the project leader, and validated by the manager. On the other hand, field faults data are reported by a quality assurance staff, translated into a fault-based number by the project leader, and validated by the manager. All validated data are sent to the SEPG, who analyzes such data and reports the analysis report back to the project team and development organization (Takagi et al., 1995). Table 1 shows the actual project data without FFD because we cannot show them due to contract obligations with company A. Here, since the neighboring testing activities are sometimes combined and performed as one testing, some metric data of several projects are actually missing. Table 1 also summarizes the average and the median of DF in each activity. As observed, the average and the median values of DF decrease as the testing activities proceed from Table 1. Actual project data. No. DFCR DFUT DFI T DFFT DFST 1 2.1 0.6 0.7 1.8 0.5 2 6.7 0.0 1.7 1.2 0.0 ... ... ... ... ... ... 110 11.6 1.8 0.2 1.0 2.9 111 3.3 5.3 15.2 3.3 6.3 Average 7.3 2.2 1.4 0.7 0.8 Median 5.2 1.1 1.1 0.5 0.3

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Figure 2.Trend of actual data. CR to ST. Figure 2 shows the actual values of DFs for six projects. From this figure, we can ascertain a certain trend in the successive values of DFCR, DFUT, DFI T, DFFT, and DFST. Intuitively speaking, projects No. 10, No. 39, and No. 90 show decreasing trend in these successive DFs, and project No. 17 shows increasing trend in these successive DFs. Classification by trend in faults detection Key idea As shown in Table 1 and in Figure 2, the projects are classified into several groups by the faults detection trend (for example, the increasing or decreasing trend in the successive DF values). In order to identify the trend, we introduce a quantitative measure of the trend. Although there are many metrics for measuring trend, the rank correlation coefficient is one of the most popular metrics for a monotonic increasing or decreasing trend (Muto, 1995). In this paper, we adopt Kendalls rank correlation coefficient (Kendall and Gibbons, 1990). By using Kendalls , we can quantitatively measure the trend of faults detection. Therefore, we define the following four types of trends based on the value of . (a) Strict decreasing type (TSD) ( = 1) (b) Almost decreasing type (TAD) (1 < < 0) (c) Almost increasing type (TAI) (0 < 1) (d) Strict increasing type (TSI) ( = 1) Projects No. 10 and No. 90 with = 1 inFigures 2(a) and (f), respectively, are classified into type TSD. Project No. 39 and project No. 71 with = 0.6 in Figure 2(c) and (e), respectively, are classified into type TAD. Project No. 45 with = 0.21 in Figure 2(d) is type TAI. Finally, project No. 17 with = 1 in Figure 2(b) is type TSI. This result implies that the value of Kendalls is adequate for distinguishing these trends. Here, we explain the

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motivation of the classification for . We firstly try to define the two trends: decreasing (1 < 0) and increasing (0 1). However, based on the experience of the actual developers, we know empirically that there may be a significant difference between the projects with = 1 (or = 1) and 1 < < 0 (or 0 < 1). The followings present interpretations of each trend: (a) Strict decreasing: Many faults are detected and removed in the early stage, and then a few faults are detected and removed in the later stage. Thus, only a very few faults remain in the final software product. This type project is most desirable. (b) Almost decreasing: This type is similar to the strict decreasing type. Thus, a few remaining faults may be found. However, an increase of detected faults seems caused by a flaw of design, by testing in previous activity, or by process management. Then, the almost decreasing type is to be a good trend type, but is not the best one. (c) Strict increasing: A few faults are detected and removed in the early stage, and then many faults are detected and removed in the later stage. Thus, many faults still remain in the final software product. This type project is most undesirable. (d) Almost increasing: This type is similar to the strict increasing type. Thus many faults may remain. However, a decreasing of the trend is caused by an activity trying to recover the quality of product and process. Therefore, the almost increasing type seems better than a strict one. Using these trends for classification, the various effects of factors such as the skill level of the development team, the kind of product, etc. are mitigated and included in the trend. Table 2. Classification by fault detection trend. Types Number of projects (%) Strict decreasing (TSD) 39 (35.1%) Almost decreasing (TAD) 55 (49.6%) Almost increasing (TAI) 15 (13.5%) Strict increasing (TSI) 2(1.8%)

4.2. Result of classification Table 2 shows the result of classification by applying Kendalls rank correlation coefficient to 111 projects. We can see that almost 35% of projects are in type TSD, and almost 50% of projects are in type TAD. Thus, 85% of projects have decreasing trends. However, the remaining 15% of projects have increasing trends (that is, types TAI and TSI). In order to find the relationship between the FFD and the four types, we present histograms of the FFD in Figure 3. Figure 3 also shows the average rank of the field quality for each type. Please note that the y-axis of Figure 3 denotes the ranks of the values of FFD rather than the values themselves. Here, the rank of each project takes a value from 1 to 111. Thus,

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Figure 3.Histogram of FFD for each type. rank = 1 implies the highest quality (that is, FFD = 0 in actual data) and rank = 111 implies the lowest quality. Figure 3(a) and (b) show that about 50% of projects in each type have the rank = 1 (because the degree of bar in left-side is equal to the number of projects producing fault-free product). Therefore, we can assume that projects with these types tend to produce very high quality products. On the other hand, Figure 3(c) and (d) shows that a few projects have the rank = 1. Thus, we can assume that projects with these types tend to produce lower quality products. From Table 2 and Figure 3, we can expect that the average field quality of the projects with the types TSD and TAD is rather good. On the other hand, the field quality is not so good for types TSI and TAI. This property will be further investigated in the next section. Analysis for trend metrics Relationship between trend and field quality Outline of analysis As shown in Table 2, the number of projects in TSI is too few to perform statistical analysis. Therefore, we integrate TSI and TAI into TI. Since our purpose is to predict whether or not the final quality becomes low, we can integrate the projects whose quality is low. Then, in order to compare the field quality of projects having three types of trends, we introduce , which is the parameter of the location1 on the rank of the FFD. In this paper, we define SD, for projects with type TSD, to be the average rank of FFD. Similarly, we define AD and I for projects with types TAD and TI, respectively. For simplicity, we call SD, AD and I the average FFD of projects with types TSD, TAD and TI, respectively. Then, from the average and the interpretations, we naturally derive the following relationship. SD AD I (1) In this paper, we planned three steps of analysis for the average FFD, SD, AD, and I of projects. Analysis 1 (Jonckheere test (Lehmann, 1975))

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By using the Jonckheere test, we can check if there is a significant ordered difference shown in Equation (1) among SD, AD, and I. First, we check whether there is a significant difference among SD, AD, and I. That is, the following null hypothesis must be rejected: H0: SD = AD = I Next, as shown in Equation (1), SD, AD, and I must have ordered relation especially. That is, alternative hypothesis deals with significant ordered differences. Thus, alternative hypothesis becomes the following equation: H1 : SD AD I Jonckheere test is one that is appropriate for such situation.2 Analysis 2 (Multiple comparison) If the order exists among SD, AD, and I, we perform Ryans pair wise comparison (Hochberg and Tamhane, 1987) to show more detailed relations among them. In this procedure, the overall null hypothesis H0, alternative hypothesis H1 against H0, and significance level must be defined. In our analysis, we defined = 0.1, and H0 and H1 are defined as follows: H0: SD = AD = I H1: SD AD I Then, subset hypotheses consisting of all possible pairs of groups are defined. In our analysis, the number of subset hypotheses is 3C2 = 3 and alternative hypotheses are SD I, SD AD, and AD I.Next, for each hypothesis, the nominal significance level _ that is used instead of the significance level is defined. By using the overall significance level , the nominal significance level _ is given as follows: = 2/k(m 1) where, k is the number of groups (in our case, 3) and m is a distance defined as the number of group Xp satisfying Xi Xp X j in H1. Here, Xi and X j are pair in a concerned hypothesis. Thus, the distance of SD and I is 3, in our analysis. By using above subset hypotheses and nominal significance level _, multiple comparisons is performed. The order of comparisons is determined according to descending order of m. For each pairwise comparison, Mann-Whitney test is performed. In our analysis, the subset null hypothesis SD = I is firstly tested. If the subset null hypotheses are rejected, then test all of subset hypotheses that have larger _ (except those are that have pair Xp and Xq satisfying Xi Xp,q X j , where Xi and X j is of hypothesis retained). Continue in this manner until no subset remains to be tested. By repeating such comparison step by step, we finally test whether there is a significant difference between each neighboring pair.

Analysis 3 (Fishers exact test) In this step, we investigate whether or not there is a significant difference among the trend groups of projects with respect to the final quality of products. We first define the criterion for the quality, and classify the project data into high quality projects and low quality projects, according to the criterion. Next, we investigate the distribution of the number of

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high quality projects and the number of low quality projects in the same type. If the trend is useful as the predictor, then the distribution of each type should have significant difference. In order to evaluate, we perform Fishers exact test. Experimental evaluation Analysis 1 (Jonckheere test) we define the following two hypotheses H0 and H1 for the average FFD of projects in types, SD, AD, and I. The null hypothesis H0 is the following Table 3. Result of the Ryans pair wise comparison. Step Nominal Pair of p-value significance types level 1 = 0.033 (SD, I 0.026 ) 2 = 0.067 (SD, 0.452 AD) 0.034 (AD, I ) relation: H0: SD = AD = I On the other hand, the alternative hypothesis H1 is the following relationship with at least one of the inequalities being strict. H1: SD AD I In this analysis, the level of significance is chosen as 0.1. By the Jonckheere test, the null hypothesis H0 is rejected at significance level = 0.1 level because the probability that H0 cannot be rejected becomes 0.068. Thus, the alternative hypothesis H1 is accepted. This result implies that there is a statistically significant difference among SD, AD, and I of target projects as the whole, and the field quality becomes worse according to the order of TSD, TAD, and TI. However, at this stage we cannot know which inequalities in the hypothesis H1 hold. Analysis 2 (Ryans pairwise comparison) Next, the result of the Ryans pair wise comparison is summarized in Table 3. Here, the significance level is chosen as 0.1. In Step 1, comparison of the farthermost pair, SD and I, is performed. As a result, there is somewhat significant difference between SD and I. Similarly, Step 2 shows a significant difference between AD and I, but no significant difference between SD and AD. From these facts, the following equation holds for the average FFD of projects. SD AD < I This equation implies that the average rank of the field fault density FFD becomes larger according to the order of SD, AD, and I, and that an especially large difference exists between AD and I. In Sections 4.1 and 4.2, we estimated that the two types, TSD and TAD, behave in the same way with respect to (the rank of) FFD. Similarly, two types TSI and TAI behave in the same way. Furthermore, the analysis result implies that there is a large difference between two types TI (that is, TSI and TAI), and TAD. Therefore, the estimation agrees with this result.

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Analysis 3 (Fishers exact test) As a result of Analysis 1 and 2, we cannot say that there is a significant difference between SD and AD but we can see that the trend affects the rank of FFD, that is, the final quality of product. Table 4. Fishers exact test. Types FFD LQ HQ TD 29 65 TI 10 7 In this analysis, we analyze whether the value of FFD affects the trend conversely in order to show that the trend is a factor that affects the final quality. Here, we integrate TSD and TAD into TD, and use them for analysis. First, we classify the projects into two types according to the value of FFD. Here, in order to divide the projects, we introduce a threshold to the values of FFD. In the analysis we decided to use a value, which has been used in company A to discriminate poor projects, as the threshold. Unfortunately we cannot show the value itself here because of the contract with company A. However we can say that the value is quite close to the average value of FFDs of 111 projects. Classified groups are called High Quality (HQ) (FFD is larger than the average) and Low Quality (LQ) (FFD is smaller than the average). Next, by using Fishers exact test, we try to show the difference of the distribution of the trend between classified groups. Table 4 shows the result of classification. As the result of Fishers exact test using Table 4, the p-value becomes p = 0.050. Therefore, the null hypothesis can be rejected at the significance level = 0.1. This implies that the ratios of the number of projects in the two groups (that is, HQ and LQ) have significant difference between that of D and that of I. Conclusion of evaluation In Analysis 1, we showed that there is an order among SD, AD, and I, as a whole. The order is as follows: SD AD I Next, in Analysis 2, we showed that a significant difference only exists between AD and I. This relation is as follows: SD AD < I From Analysis 1 and 2, we can see that the trend affects the rank of FFD. In Analysis 3, we showed conversely that the value of FFD affects the trend. Finally, we can say that trend type, TD and TI, is an important factor that may estimate software quality. Relationship between trend and early phase activity In order to control software quality, we show the relationship between trend metrics and metrics obtained from design and coding phase. Table 5. Logistic regression model vs. rank correlation coefficient. Classification by logistic model # of Type TD # of Type TI Classification by # of Type TD # of Type TI 91 13 3 4

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With the trend metric as the dependent variable (this variable may take TD or TI), we first performed the logistic regression analysis that applies the step-wise method to metrics recorded at design and coding phase in company A. Next, by applying Fishers exact test, we verify the correlation between the classification result using the logistic model and the classification using the rank correlation coefficient. As a result of logistic regression analysis, only two metrics, DF review which is frequency of detected faults through all review activities, and CRR which is percentage of code review effort in effort of coding phase, are shown to be significant. A logistic regression model using these two metrics is constructed as follows: p = e22.391CRR0.149DFreview+1.261 / 1 + e22.391CRR0.149DFreview+1.261 Here, p represents the probability that a project is classified into type TI. For Fishers exact test, we show Table 5. The sum of numbers in each row represents the number of projects classified by the rank correlation coefficient. The sum of numbers in each column represents the number of projects classified by logistic regression model. As a result of the Fishers exact test, the null hypothesis is rejected by the significance level = 0.01 (<0.1). Thus, we can say that two metrics, DF review and CRR, are the characterizing factor of the trend of detected faults. Conclusion In this paper, we analyzed time series data on the number of faults detected by successive coding review and testing activities. First, by applying the rank correlation coefficient to actual project data, we have successfully classified the data into four types of trends: TSI, TAI, TAD and TSD. Next, we have investigated the relationships between trends and field quality, and showed that the software project having trend TAD or TSD would produce high quality products. Moreover, we have investigated the relationships between trends and metrics collected at the design phase, and showed that DF review and CRR are related to the trends of detected faults in the test phase. As future work, since these results are obtained from data of one particular company, we need to analyze more data from various software development organizations and to generalize the results. Notes 1. Here, the parameter of the location indicates the median of population since all statistical tests in our research are nonparametric ones. 2. For more concrete procedure of the Jonckheere test, please consult Appendix A1. References Basin, S.L. 1973. Estimation of software error rates via captrue-recapture sampling, Technical report, Science Application, Inc. Bisant, D.B. and Lyle, J.R. 1989. A two-person inspection method to improve programming productivity, IEEE Trans. on Software Engineering 15(10): 1294 1304. Broekman, B. and Notenboom, E. 2002. Testing Embedded Software, Addisonwesley.

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Compton, T. and Withrow, C. 1990. Prediction and control of Ada software defects, Journal of Systems and Software 12: 199207. Fagan, M.E. 1986. Advances in Software inspections, IEEE Trans. on Software Engineering 12(7): 744751. Goel, A.L. 1985. Software reliability models: Assumptions, limitations, and applicability, IEEE Trans. on Software Engineering, 14111423. Halstead, M.H. 1977. Elements of Software Science, Elsevier. Hochberg, Y. and Tamhane, A.C. 1987, Multiple Comparison Procedures, Wiley. Horch, J.W. 2003, Practical Guide to Software Quality Management, Artech House Publishers. International Standard Organization. 1990. IEEE Standard Glossary of Software Engineering Terminology. IEEE Std 610.121990. Kendall, M. and Gibbons, J.D. 1990. Rank Correlation Methods, 5th ed., Edward Arnold. Khoshgoftaar, T.M. and Seliya, N. 2002. Tree-based software quality estimation models for fault prediction, In Proc. 8th IEEE International Symposium on Software Metrics, pp. 203214. Lehmann, E.L. 1975. Nonparametrics: Statistical Methods Based on Ranks, HoldenDay, Inc. CURRENT SCENARIO OF INDIAN TEXTILE INDUSTRY EXPORT PERFORMANCE

DR.V.R.PALANIVELU, Reader, PRIMS, Periyar University, Salem-11 R.SANKARGANESH, Ph.D Full Time Research Schollar, PRIMS, Periyar University, Salem-11 Abstract The Textile Sector in India ranks next to Agriculture. Textile is one of Indias oldest industries and has a formidable presence in the national economy in as much as it contributes to about 14 per cent of manufacturing value-addition, accounts for around onethird of our gross export earnings and provides gainful employment to millions of people. The textile industry occupies a unique place in our country. One of the earliest to come into existence in India, it accounts for 14% of the total Industrial production, contributes to nearly 30% of the total exports and is the second largest employment generator after agriculture. Textile Industry is providing one of the most basic needs of people and the holds importance; maintaining sustained growth for improving quality of life. It has a unique position as a self-reliant industry, from the production of raw materials to the delivery of finished products, with substantial value-addition at each stage of processing; it is a major contribution to the country's economy. This paper deals with structure, growth and size of the Indian textile industry, role of textile industry in economy, key advantages of the industry, textile industry export and global scenario and strength, weakness, opportunities and treats of the Indian textile industry. Introduction International trade is the exchange of goods and services across international boundaries or territories. In most countries, it represents a significant share of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries.

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Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact. Increasing international trade is the primary meaning of "globalization". Export In economics, an export is any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade. Export is an important part of international trade. Its counterpart is import. Export goods or services are provided to foreign consumers by domestic producers. Export of commercial quantities of goods normally requires involvement of the Customs authorities in both the country of export and the country of import. The advent of small trades over the internet such as through Amazon, e-Bay and the like, have largely by-passed the involvement of Customs in many countries due to the low individual values of these trades. Nonetheless these small exports are still subject to legal restrictions applied by the country of export, particularly in respect of strategic export limitations. Import In economics, an import is any good or commodity, brought into one country from another country in a legitimate fashion, typically for use in trade. Import goods or services are provided to domestic consumers by foreign producers. Import of commercial quantities of goods normally requires involvement of the Customs authorities in both the country of import and the country of export. The Textile industry is a term used for industries primarily concerned with the design or manufacture of clothing as well as the distribution and use of textiles .The textile industry occupies a unique place in our country. One of the earliest to come into existence in India, it accounts for 14% of the total Industrial production, contributes to nearly 30% of the total exports and is the second largest employment generator after agriculture. The textile industry fulfils a pivotal role in the Indian economy. It is a major foreign exchange earner and, after agriculture, it is the largest employer with a total workforce of 35 mn. In 2005 textiles and garments accounted for about 14 per cent of industrial production and 16 per cent of export earnings. The industry covers a wide range of activities. These include the production of natural raw materials such as cotton, jute, silk and wool, as well as synthetic filament and spun yarn. In addition, an extensive range of finished products are also made. The Indian textile industry accounts for about 23 per cent of the worlds spindle capacity, making it the second highest after China, and around six per cent of global rotor capacity. Also, it has the highest loom capacityincluding hand loomswith a 61 per cent share. India accounts for about 12 per cent of the worlds production of textile fibers and yarns. This includes jute, of which it is the largest producer. Textile Industry is providing one of the most basic needs of people and the holds importance; maintaining sustained growth for improving quality of life. It has a unique position as a self-reliant industry, from the production of raw materials to the delivery of finished products, with substantial value-addition at each stage of processing; it is a major contribution to the country's economy. Its vast potential for creation of employment opportunities in the agricultural, industrial, organized and decentralized sectors & rural and urban areas, particularly for women and the disadvantaged is noteworthy. Although the development of textile sector was earlier taking place in terms of general policies, in

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recognition of the importance of this sector, for the first time a separate Policy Statement was made in 1985 in regard to development of textile sector. The textile policy of 2000 aims at achieving the target of textile and apparel exports of US $ 50 billion by 2010 of which the share of garments will be US $ 25 billion. The main markets for Indian textiles and apparels are USA, UAE, UK, Germany, France, Italy, Russia, Canada, Bangladesh and Japan. The industry expects investment of Rs.1, 40,000 crore in this sector in the post-MFA phase. A Vision 2010 for textiles formulated by the government after intensive interaction with the industry and Export Promotion Councils to capitalize on the upbeat mood aims to increase India's share in world's textile trade from the current 4% to 8% by 2010 and to achieve export value of US $ 50 billion by 2010. Export Promotion Councils The government of India concentrates in export of textile products; government provides lot of necessary helps to the textile industry through the following export promotion councils. 1. Handloom Export Promotion Council (HEPC) The council gets grant-in-aid from Government for its export promotion activities like organization of fairs/ exhibitions/ seminars/ buyer seller meets etc. It is the nodal agency for promotion of exports of the handloom sector. 2. Apparel Export Promotion Council (AEPC) Objective of the Council is to promote, advance, increase and develop exports of all types of ready made garments. Woolen knitwear and garments of leather, jute and hemp are excluded from its purview. 3. Cotton Textile Export Promotion Council (TEXPROCIL) The Council looks after the export promotion of cotton fabrics, cotton yarn and cotton madeups. Its activities include market studies for individual products, circulation of trade enquiries, participation in exhibitions, fairs and seminars at home and abroad, in order to boost exports. 4. The Synthetic and Rayon Textile Export Promotion Council (SRTEPC) It is the nodal agency for promotion of exports of Indian synthetic and rayon textiles (yarn, fabrics and made-ups).The council gets grant-in-aid from Government for its export promotion activities like organization of fairs/ exhibitions/ seminars/ buyer seller meets etc. 5. Indian Silk Export Promotion Council (ISEPC) The ISEPC is the nodal agency for promotion of exports of natural silk goods from India and acts as a registering authority for the information to its members. The council produces and disseminates information to its members about the market developments in the world, changes in the trade polices, etc. A catalogue containing sample swatches of the full range of silks from India is available for potential buyers, importing textiles agents and Indian missions abroad. 6. Wool and Woolens Export Promotion Council (W&WEPC) The council's objective is promotion of exports of Wool and Woolen products. The council gets grant-in-aid from Government for its export promotion activities like organization of fairs/ exhibitions/ seminars/ buyer seller meets etc.

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7. Carpet Export Promotion Council (CEPC) The council's objective is promotion of exports of carpets. The council gets grant-in-aid from Government for its export promotion activities like organization of fairs/ exhibitions/ seminars/ buyer seller meets etc. 8. Export Promotion Council for Handicrafts (EPCH) The council's objective is promotion of exports of handicrafts products. The council gets grant-in-aid from Government for its export promotion activities like organization of fairs/ exhibitions/ seminars/ buyer seller meets etc 9. Power loom Development & Export Promotion Council(PDEXCIL) Power loom Development & Export Promotion Council is a nodal agency for development and promotion of the exports of Power loom products

Table No 1 shows that the export details about the textile industry, in that table we have 8 number of sectors namely Cotton Textiles, Manmade Textiles, Silk, Wool, Ready Made Garments, Handicrafts, Jute and Coir & Coir Manufactures. Based on this data table, after some analysis we have the sector wise analysis report. That report whispered the followings. SECTOR-WISE ANALYSIS (i) Cotton Textiles including Handlooms: Cotton Textiles i.e. yarn, fabrics and made-ups (Mill made / Power loom/ Handloom) constitute more than 2/3rd of our exports of all fibers/yarns/made-ups. During 20042005, Cotton Textile exports including Handlooms were US$ 3.54 billion, recording a decline of 1.5% as compared to the corresponding period of 2003-04. During 2005-2006 the Cotton Textiles exports have amounted to US$ 4.49 billion, recording a healthy increase of 26.78% over the exports during the corresponding period of 2004-2005. During the first quarter of 2006-2007 the Cotton Textiles including Handlooms exports have amounted to US$ 1.25 billion, recording an increase of 25.70% over the exports during the corresponding period of 2005-2006. (ii) Man-made Textiles: During 2004 2005, man-made Textiles exports were US$ 2.05 billion, recording a growth of 12.6% as compared to the corresponding period of 2003-04. During 2005-2006 the manmade Textile exports have amounted to US$ 2.00 billion, recording a decline of 2.47% over the exports during the corresponding period of 2004-2005. During the first quarter of 2006-

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2007 the Man-made Textiles exports have amounted to US$ 0.52 billion, recording an increase of 13.15% over the exports during the corresponding period of 2005-2006. (iii) Silk Textiles: During 20042005, Silk Textiles exports were US$ 0.59 billion, recording a growth of 9.0% as compared to the corresponding period of 2003-04. During 2005-2006 the silk exports have amounted to US$ 0.69 billion, recording an increase of 16.37% over the exports during the corresponding period of 2004-2005. During the first quarter of 2006-2007 the Silk Textiles exports have amounted to US$ 0.165 billion, recording an increase of 4.23% over the exports during the corresponding period of 2005-2006 (iv) Woolen Textiles: During 20042005, woolen Textiles exports were US$ 0.42 billion, recording a growth of 23.4% as compared to the corresponding period of 2003- 04. During the period of AprilMarch, 2005-2006 the woolen Textile exports have amounted to US$ 0.47 billion, recording an increase 13.63% over the exports during the corresponding period of 2004-2005. During the first quarter of 2006-2007 the Woolen Textiles exports have amounted to US$ 0.114 billion, recording an increase of 11.96% over the exports during the corresponding period of 2005-2006. (v)Readymade Garments: Readymade Garments account for approximately 45% of the countrys total textiles exports. During the year 20042005, Readymade Garment exports were US$ 6 billion, recording an increase of 4.1% as compared to the corresponding period of 2003-04. During 2005-2006 the Readymade Garment exports have amounted to US$ 7.75 billion, recording an increase of 28.69 % over the exports during 2004-2005. During the first quarter of 2006-2007 the Readymade Garment exports have amounted to US$ 2.17 billion, recording an increase of 15.70% over the exports during the corresponding period of 2005-2006. (vi) Handicrafts including Carpets: During 2004 2005, handicrafts including carpet exports were US$ 1.01 billion, showing a decline of 6.6% as compared to the corresponding period of 2003-04. During 2005-2006 the handicrafts exports have amounted to US$ 1.24 billion, recording an increase of 22.24% over the exports during 2004-2005. During the first quarter of 2006-2007 the Handicrafts including Carpets exports have amounted to US$ 0.301 billion, recording a marginal decline of 1.31% over the exports during the corresponding period of 2005-2006. (vii) Jute: During 2004 2005, jute exports were US$ 0.276 billion, recording a growth of 14% as compared to the corresponding period of 2003-04. During 2005-2006 the Jute exports have amounted to US$ 0.295 billion, recording an increase of 6.64% over the exports during the corresponding period of 2004-2005. During the first quarter of 2006-2007 the Jute exports have amounted to US$ 0.065 billion, recording a decline of 7.79 % over the exports during the corresponding period of 2005-2006. (viii) Coir: During 2004 2005, coir exports were US$ 0.106 billion, recording a growth of 35.7% as compared to the corresponding period of 2003-04. During 2005-2006 the coir exports have amounted to US$ 0.134 billion recording an increase of 27.19% over the exports during 2004-2005. During the first quarter of 2006-2007 the Coir exports have amounted to US$

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0.032 billion, recording an increase of 10.03% over the exports during the corresponding period of 2005-2006. CONCLUSION To conclude this article, the textile industry, which is the industry earning the highest income of our country after agricultural. The textile industrys export performance is going well as per the study based on the data shown in the Directorate General of Commercial Intelligence and Statistics (DGCIS). That is the export of textile products is budding year by year. Numerically say, in the year 2002-03 export of textile products was Rs.60071.70 crs and its climb up to Rs 62017.2 crs in the year 2003-04, and it reached Rs 63024.18 crs in the year 2004-05.

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