Share July 11

ISSN : 0976-4712
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Editorial Advisory Panel Dr. A.S. Solanki Public Authority of Agriculture Affairs & Fish Resources, State of Kuwait K. A. S Dhammika University of Kelaniya, Sri Lanka Dr. N. Panchnatham Annamalai University, Chidambaram Dr. Hanuman Prasad M L Sukhadia University, Udaipur Dr. Ramendra Prasad Universitt des Saarlandes, Germeny Dr. Sanjay J. Bhayani Saurashtra University, Rajkot Dr. Vishwas Saxena ADSIL, New Delhi Published by : Mrs. Simple S For Share Study Hub, Jaipur Address: Registered Office : 121, Shripuram Colony, Gurjar Ki Thadi, Gopalpura Bypass, Jaipur, Rajasthan, India Correspondence Address : A-9, Vivekanand Colony, Khetri House, O/S Chandpole Gate, Jaipur-302016, Rajasthan (India) PH. : 099296-64887 E-mail : sharestudyhub@gmail.com www.sharestudyhub.com Printed at : Design House, Jaipur
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Contents
Efficiency and Profitability Relationship: A Study of Indian Textile Industries 4 K.S. Vatliya Segment Reporting Practices: A Study Based on Indian Banking Industry 13 Satyajit Ghorai A Role of Stimulation for Selection of Health Insurance 21 (with Special Reference to Thanjavur District) V. Pothigaimalai & K. Bharathipriya Receivable Management: An Empirical Study with 27 Reference to Pharmaceutical Company Shital P. Vekariya Go Rural : A Destination For Successful Business Houses 32 Sumedha Kalia, Urvashi Kalra & Rajni Kamboj Knowledge Management : A Study of ICICI Bank 37 Kiran Mor & Aditi A. Mahajan The Relationship between Employee Satisfaction and 41 Hospital Patient Experiences Tulsee Giri Goswami, Pankaj Garg & S. S. Ranawat Fiscal Crisis in Punjab: The Sustainability Issue 46 Anupama Uppal & Jaspal Singh
Institutional Repository at Sardar Patel University Campus 54 Vidya Repository Nimesh D.Oza Derivation of New Management Philosophy from 62 Indian Symbols of Spirituality Neelam Sharma The Growth, Challenges and Opportunities of Retail Industry in India 68 Gangadhar V. Kayande Patil Contents 3
Innovation, Non-Expertise and Inabilities of Developing Countries in E-Banking and E-Commerce V. K Saxena & Mr. Kehar Singh Social Entrepreneurship and Economic Transformation Anil Adsule Firewall & Other Network Security Arsenal For Information Security Yusuf Ali, Rafi Ahmad & Sharad Panwar A Scheme for Classifying Intrusion Signatures Gaurav Jain & Amit Swami A Comparative Analysis of Current Intrusion Detection Technologies Abid Husain Power of Parliament to Expel its Member's from House Pitresh Kumar Bhatt
74
81
84 89
98 104
Members List 109 Call for Papers 110 Subscription / Membership Form 111 5
Efficiency and Profitability Relationship
Review of Literature
research he revealed
various problems of
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and Reddy made study on cement industries and suggested remedies for
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ratio analysis as major tool for financial the problems .He also suggested for the
000000
Dr. K.S. Vatliya

Bhavnagar, Gujarat
Principal , M.J.Commerce College, Bhavnagar University, performance by studying 22 ratios of improvement of profitability and techniques productivity, liquidity and
turnover
groups of of cost control. recently in the year 1998 a the industries for the period from 1961 to study was made by pro. S.J.parmar on 1971. In the year of 2002 Sugan C. Jain has profitability analysis of cement industry in I n t h e p r e s e n t c o m p e t i t i v e e n v i r o n m e n
t f o r s u r v i v a l o f b u s i n e s s o n s t r a t e g y i s c o m p e t i n g t h o u g h
c o s t r e d u c t i o n ? T h e c o s t r e d u c t i o n c a n b e a c h i e v e d t h o u g h
e f f i c i e n c y i n t h e o r g a n i z a t i o n . T h i s e f f i c i e n c y l e a d s t h e
o r g a n i z a t i o n t o w a r d s t h e h i g h e r p r o f i t a b i l i t y . I n t h e p r e
s e n t p a p e r a n a t t e m p t h a s b e e n m a d e t o a n a l y s i s t h e e f f i c i
e n c y a n d p r o f i t a b i l i t y o f t h e I n d i a n t e x t i l e i n d u s t r i e s . F
o r t h e p u r p o s e o f t h e s t u d y w e h a v e s e l e c t e d t o p t h r e e u n i
t s o f I n d i a n t e x t i l e i n d u s t r i e s w i t h a s t u d y p e r i o d o f t h e
f i v e y e a r s . R e s u l t s r e v e a l t h a t t h e e f f i c i e n c y h a s a d i r e
c t r e l a t i o n s h i p w i t h p r o f i t a b i l i t y o f I n d i a n T e x t i l e I n d u s
t r i e s . written a book on performance appraisal Gujarat state for the period from 1998-89 to automobile industry In his study he analyses 199495.He had made an attempt to analyze the performance of the automobile industry financial strength, liquidity, profitability, cost and also presented comparative study of some and sales trend and social welfare trend by national and international units. Dutta S.K has using various ratios analysis, common size written an article on Indian Tea industry an analysis and value added analysis. He made apprai salwhich waspublis
h e d i n several suggestions for the improvement of management accountant in the year of March profitability of industry. In his analysis he
1992. He analyzed the profitability, liquidity
indicates various reasons for higher cost, low and financial efficiency by using various profitability, and inefficient use of internal resources.
Introduction
T h e f i n a n c i a l m a n a g e r h a s t o t a
textile industry, until the economic
k e r a t i o n a l l i b e r a l i z a t i o n o f I n d i a n e c o n o m y w a
s d e c i s i o n s f r o m t i m e t o t i m e k e e p i n g i n v i e w p r e d o m i
n a n t l y a n d u n o r g a n i z e d i n d u s t r y . T h e t h e o b j e c t i v e
o f t h i s c o m p a n y . A l w a y s t h e e c o n o m i c l i b e r a l i z a t i o
n o f I n d i a n e c o n o m y i n d e c i s i o n s m u s t b e b a s e d o n
t h e a n a l y t i c a l t h e e a r l y 1 9 9 0 s l e d t o s t u p e n d o u s g
r o w t h o f t o o l s . F i n a n c i a l a n a l y s i s i s t h e m o s t u s e f u l t
h i s I n d i a n i n d u s t r y . T h e I n d i a n t e x t i l e t e c h n
i q u e s i n t h i s r e g a r d s . F i n a n c i a l a n a l y s i s i n d u s
t r y i s o n e o f t h e l a r g e s t t e x t i l e i n d u s t r i e s r e l i e s o n
t h e c o m p a r i s o n s o r r e l a t i o n s h i p s o f i n t h e w o r l
d a n d I n d i a e a r n s a r o u n d 2 7 % o f t h e t h e d a t a t h a t e n
h a n c e s t h e u t i l i t y o r t h e f o r e i g n e x c h a n g e f r o m e x p
o r t s o f t e x t i l e s a n d ratios. Pandey (1995) showed how these financial statements and ratio were necessary in accounting for planning and control and
Objective of the Study

decisionmaking system. Gupta (2005) This study is aimed at attempting the focused on how these ratios were the predictor following: of the failure and how these ratios are helpful To analyze profitability of the selected in fulfilling the fact of financial statements units of the
industry. with better interpretation through these. Khan To examine the liquidity position of the and Jain (2005) expressed uses of the financial companies. statements, profit planning and cost control, To study long term solvency position of the practical value of the accounting information. its related products. Further, globalization of This analysis consists in applying various Indian textile industry has been a paradigm analytical tools and techniques to the financial increase in the 'total industrial production' corporate decisionmaking whether they companies. strategic, analysis or simple routine decision To examine relation between
liquidity and managers. Dr. Kumar Bar Das published a profitability in the selected units of the d a t a . T h e w o r d ' p r o f i t a b i l i t y ' i s c o m
p o s e d o f f a c t o r o f t h i s i n d u s t r y , w h i c h p r e s e n t l y s t a
n d s t w o w o r d s ' p r o f i t ' a n d ' a b i l i t y ' . P r o f i t a b i l i t y i s
a t 1 4 % . F u r t h e r m o r e , t h e c o n t r i b u t i o n o f t h e
t h e p o w e r o f t h e e n t e r p r i s e t o e a r n p r o f i t s . I n d i a n t
e x t i l e i n d u s t r y t o w a r d s t h e g r o s s P r o f i t a b i l i t y
a c t s a s a y a r d s t i c k t o m e a s u r e t h e d o m e s t i c p r o d u c
t ( G D P ) o f t h e I n d i a i s a r o u n d o p e r a t i n g o f t
h e e n t e r p r i s e , t h e g r e a t e r 3 % a n d , t h e n u m b e r i s
s t e a d i l y i n c r e a s i n g . p r o f i t a b i l i t y m o r e . P r o f i t a b i l i t y
a l s o i n d i c a t e s T o d a y , t h e I n d i a n t e x t i l e i n d u s
t r y e m p l o y s around 35 million personnel directly and it comprehensive book in 1987 which covered industry. period from 1970 to 1980.He concluded various aspects like factor productivity, To summarize the main finding of the
public acceptance of products produced by
location degree of competition study capacity by offering suitable suggestions. utiliza tio n, s ize eff iciency financial performance, Distribution pattern and
Research Methodolo gy
government policies with
respect to pricing Source of the Data and distribution. He indicated that all Profitability and Relationship A Study enterprise and shows the combined effects of accounts for 21% of the total employment liquidity, asset management and debt generated in the economy. 'The national textile profitability ratios decrease gradually and of Indian Textile Industries has been made by became negative for 1973-74 and 1974-75 but using data from Financial Statements of top management on operating results. In this paper Ministry of policy 2000' was introduced by the
an attempt has been made to analyze the Textile under the Government of India. This improved gradually thereafter. Dr.Pramod three textile companies of Indian Textile profitability, liquidity and solvency position of policy aims at increasing the foreign exchange Kumar published a Book in 1991, Analysis of Industries and from website of three
t h r e e I n d i a n t e x t i
l e ( c o t t o n ) c o m p a n i e s . e a r n i n g t o t h e t u n e o f U S $
5 0 b i l l i o n b y t h e e n d o f t h e y e a r 2 0 1 0 . T h e t e x t i l e s e c
t o r h a s a A b o u t t h e T e x t i l e I n d u s t r y p r o m i n e
n t p l a c e i n t h e n a t i o n a l e c o n o m y . T h e t e x t i l e i n d u s t r y h
a s b e e n a n i m p o r t a n t s o u r c e T h e i n i t i a t i o n a n d
d e v e l o p m e n t o f o f f o r e i g n e x c h a n g e r e s o u r c e s o v e r
a p e r i o d o f globalization and Indian textile industry took
time in the country. Financial statements of Indian industries. The companies viz..Siyar amSilkMill s study covered the 17 private, 5 state owned and Ltd.(SSML). Shree Dinesh Mills Ltd. (SDML) 1 central public sector companies. He studied and Wellspun India Ltd. (WIL). This study is analysis of activities, assessment of based mainly on secondary data, the data profitability, return on capital investment, which are published in annual reports of the Analysis of financial structure, Analysis of
textile units. The annual reports have collected
fixed assets and working capital. In this from the head office and the website of the
Vol.2. respective units. The present study is made for six years from 2002-03 to 2007-08. Various publication s of ITA (In di an Te x tile Association) and related journals, progress report, articles, website, magazines, publication of Ministry of Textile and other publication will use for this purpose. Hypothesis for the Study: 1.1. The profitability of all three units is uniform. 2.2. The liquidity position of all three units is satisfactory. 3.3. The capital structure of all three units is uniform. Techniques of Analysis The data which will collect are systematically and scientifically edit, classify, and tabulate keeping in mind the objective and hypothesis of the subject. For the purpose of analysis of data various ratios relating to profitability, liquidity, solvency and assets management is calculated. Moreover, the sample statistical technique such as Standard Deviation, Co-efficient of Variation, average and ANOVA test were also applied to analyze the consistency, otherwise the stability and overall trends in the different financial aspect of the companies. In present study data has been converted into relative measures such as Table No.1 for profitability ratio
ratios, percentages rather than the absolute data.
Analysis of Profitability
Profitability is the overall measure of the companies with regard to efficient and effective utilization of the resources at their command. It indicates in a nutshell the effectiveness of the decisions taken by the management from time to time. The measurement of profitability of the companies is as under.
Return on Investment (ROI)
The profitability is also known as the Return on the Total Assets (ROI). It can be calculated by using the following formula: ROI = Profit after Tax / Average Capital Employed. It is evident from table-1 that the highest ROI among all units was 8.05 percent in 2008-09, 15.35 percent in 2008-09 and 0.00 percent in 2008-09 for SSML, SDML and WIL respectively. In SSML and SDML the ROI in 2003-04 was 8.61 percent and 10.15 percent respectively, which was lowest ROI among all units under study. The average rate of return was at 10.36 percent in SSML, 15.20 percent in SDML and 11.13 percent in WIL. The Standard Deviation (2.43) and C.V. (23.41) of SSML shows consistency in the ratio as compared to SDML and WIL.
Ratio/ Year Return on Investment Ratio SSM Ltd. SDM Ltd. WI Ltd. Net Profit Ratio SSM Ltd. SDM Ltd. WI Ltd. Total Assets Turnover Ratio SSM Ltd. SDM Ltd. WI Ltd. Return on Net worth Ratio SSM Ltd. SDM Ltd. WI Ltd.
200 304
200 405
200 506
200 607
200 708
200 809
Averag e
S.D .
C.V.
8.61 10.1 5 17.8 4
8.87 12.19 13.44
12.7 0 20.8 3 11.7 9
13.9 9 19.7 9 13.0 6
9.96 12.9 0 10.6 3
8.05 15.3 5 0.00
10.36 15.20 11.13
2.4 3 4.3 0 5.9 8 1.2 0 4.7 4 2.9 3 0.7 9 0.8 7 0.4 5 3.9 4 3.9 8 5.1 7
23.4 1 28.3 2 53.7 2 46.1 3 46.6 4 62.9 8 26.6 2 43.3 9 38.4 0 38.5 7 33.7 6 62.0 0
2.22 3.79 8.36
1.99 6.68 7.43
2.32 12.4 1 5.31
3.04 12.5 1 3.92
1.25 8.63 1.51
4.73 17.0 1 1.39
2.59 10.17 4.65
3.22 3.29 1.75
3.00 2.28 0.93
3.61 2.02 0.74
3.45 1.98 0.91
3.07 1.86 0.94
1.42 0.58 1.72
2.96 2.00 1.16
7.52 6.95 13.6 8
8.21 9.26 12.87
14.4 7 17.2 1 9.10
16.0 0 15.8 3 9.57
6.92 9.95 4.77
8.21 11.4 5 0.00
10.22 11.78 8.33
Return on Net Worth and
lowest among the companies. It can be calculated by using the following formula:RONW = Profit after Tax / Average R etur n on Inv e s t ment Net Worth. The return on net worth in SDML was highest in 2005-06 at 17.21 percent and its ANOVATest Null average return was 11.84 percent, where as the Hypothesis: The profitability of all
average return on net worth of SSML and WIL
three units is uniform. It is evident from the
table-2 that the difference between in was 10.62 percent and 10 percent respectively. Return on Investment of companies was In the year 2007-08 the return of both these insignificant because the calculated value of companies was lower during the study. The lower than that of table value 'F' (1.14) was reason behind on this was lower ROI in these (3.105) at 5% level of significance. Hence years. The ratio of WIL shows a steady return the null hypothesis is accepted. So we can say on net worth entire period under the study that the profitability of all three units is uniform. because it's S.D. (5.17) and C.V.(62) are Table-2 ANOVA Test for Return on Investment Ratio
Source of Variation
SS
df
MS
F crit
Between Groups Within Groups Total
123.055 9 258.858 4 381.914 3
5 12 17
24.611 18 21.571 53
1.1409 1
3.1058 75
1. Analysis of Sales and Assets :
Analysis of Sales
Sales and Assets ratio are components of Profit margin ratio of SSML shows the ROI. Sales can be measured with the help fluctuation trend, the average ratio of SDML of net profit margin; whereas the Assets are was 10.17 percent, which was highest among presented by assets turnover ratio. This ratio all the units of study. The net profit margin of explains per rupee profit generating capacity SSML and WIL was 4.73 percent and 4.65 of the sales. If the cost of goods sold is lower, percent in 2008-09, which was lowest in entire then the profit will be higher and then we study. It shows the sales of these units were divide it with the net sales the result is the high poor. The S.D. of SSML was 1.20, which sales. If lower is the net profit per rupee of indicates consistency in net profit margin. The sales, lower will be the sales. The companies sales ratios have been showing a significant must try for achieving greater sales for feature of higher rates with greater reliability maximizing the ROI. and uniformity in SSML than the SDML and Sales Ratio = Net Profit / Net Sales. WIL during the entire period under the study. This ratio measures the use of the assets. The efficient use of assets will generate greater Analysis of Assets: sales per rupee invested in all the assets of the The analysis of the assets ratios indicates company. The inefficient use of the assets will that in 200708 these were at 3.07, 1.86 and result in low sales volume coupled with higher 0.94 times in SSML, SDML and WIL overhead charges and under utilization of the respectively. The average ratio of SSML was available capacity. Hence, the management 2.96 times, which was highest among all the must strive for using of total resources at units of study. The S.D. (1.20) and C.V. (46.13) optimum level, to achieve higher ROI. Fixed of SSML indicate consistency in total assets Asset turnover Ratio = Net Sales / Average Net turnover than the SDML and WIL during the Fixed Assets entire period under the study.
89
Efficiency and Profitability Relationship Efficiency and Profitability Relationship
Impact of sales and assets on ROI companies in meeting their current obligations The analysis revealed that the sale was to maintain sound liquidity and to pinpoint the significantly higher in SDML followed by difficulties if any in it. Using the following two WIL. The assets were more consistent in liquidity ratios makes the analysis of the SSML and SDMl as compared to WIL. Thus, liquidity position: this indicates that the sales were the best in 1. Current Ratio = Current Assets/Current WIL because its S.D. (1.71) was
lower as Current Ratio and ANOVA 3) Null Hypothesis: The liquidity position
Test
compare to SSML and SDML. (TableThe analysis of both current and quick of all three units is satisfactory. It is clear from ratio revels that SSML and WIL were not able table-4 that the difference in between to maintain sound liquidity position. Hence, it companies was significant is because the advice that the companies maintain the calculated value of 'F' (0.33) was higher than
SDML, while assets were maximum in SSML. Liabilities sound liquidity position by reducing the the table value (3.10) at 5% level of However to pinpoint the possible influencing 2. Quick Ratio = Quick Assets/Current burden of excessive current liquidities or by significance. So, null hypothesis is accepted factor, contributing for the fluctuations in ROI, Liabilities increasing the investing in components of and alternative hypothesis is rejected. The we analyze the highest/lowest year of ROI current assets depending upon the requirement difference is not significance with reference to sales and assets ratio we Current Ratio of the companies. observe the following: A close examination of the data pertaining The highest ROI in 2006-07 at 13.99 to the current ratios reveals that these ratios are Table- 4 ANOVA Test of current ratios percent in SSML was influenced by the significantly lower in all the companies as increase in the sales efficiency, while low rate compared to the standard norms of 2:1. The Source of Variation SS df MS F
F crit of ROI in 2003-04 at 8.61 percent in SSML average ratio is at 1.83 in SSML, 2.17 in Between Groups 0.675578 5 0.135116 0.332792 3.105875 was also attributed to low rate of sales rather SDML and 1.27 in WIL. This ratio indicates Within Groups 4.872067 12 0.406006 than the assets. that the Liquidity position of SDML was Total 5.547644 17 In SDML the highest ROI in 2005-06 at sound as compared to SSML and WIL. In 12.41 percent was the reason of higher sales 2004-05 the ratio of WIL was 1.15 indicating efficiency and in WIL ROI was highest in the scarcity of liquidity. Where the ratio of 3.
Analysis of Leverage Position :
0.32 and 1.75 times respectively. The ratio
2003-04 at 17.84 percent was also the reason WIL shows consistency in liquidity position of The leverage ratios explain the extent to indicates that WIL is highly dependent on o f h i g h e r s a l e s . t
h e c o m p a n y b e c a u s e o f i t s S . D . ( 0 . 2 6 ) a n d T h e r
e a s o n f o r l o w e r R O I i n S D M L a n d C . V . ( 2 0 . 5 6 )
a r e l o w e s t a m o n g a l l c o m p a n i e s . W I L w a s t h e l o w e r o
f s a l e s . ( T a b l e 3 ) w h i c h , t h e d e b t i s e m p l o y e d
i n c a p i t a l d e b t . W h i l e S D M L ' s d e b t i s l e s s t h a t i
t s e q u i t y s t r u c t u r e o f t h e c o m p a n i e s . A l w a y s c o
m p a n i e s i n d i c a t e d c o n s e r v a t i v e s a p p r o a c h o f f i n a n c i
a l u s e d e b t f u n d a l o n g w i t h e q u i t y f u n d s , i n o r d e r
m a n a g e m e n t . T h e S S M L r a t i o s h o w s T a b l e a n d
a n a l y s i s i n d i c a t e s t h a t t h e s a l e t o m a x i m i
z e t h e a f t e r t a x p r o f i t s , t h e r e b y m o d e r a t
e a p p r o a c h o f f i n a n c i n g o f Quick Ratio was the major contribution factor for the fluctuation in the rates of ROI in all The quick ratio was of SSML, SDML and the WIL were at , 3.52,1.51, and 3.76 companies. times in 2008-09 respectively as compare to standard optimizing earning
available to equity organization need. (Table-5) shareholders. The basic facility of debt funds is that after tax cost of them will be significantly Interest Coverage Ratio lower, and which can be paid back depending It the ability of the
really measures
2. Analysis of Liquidity
norms of 1:1. It signals that SSML and WIL upon their terms of issue. Further, debt funds companies to service the debt. The ratio of have been had not problem of liquidity. will not dilute the equity holders control SDML was highest among all the companies
Next, it is decided to make an attempt to During the study period average ratio of study the liquidity position of the companies, SDML was higher as compared to SSML and positions. However, the debt funds are used under study. The average ratio of SSML, in
order to highlight the relative strength of the WIL, but the consistency was maintained by very carefully by considering the liquidity and SDML and WIL were 3.36 percent, 7.49 risk factors. The debt will increase the risk of percent and 2.11 percent respectively. In 2005the company. Now, let us analyze the leverage 06 the ratio of SDML was highest between all Table- 3 Liquidity Ratio (Times) position of the companies. For this purpose we the year and all the companies. It indicates have made using the following ratios: sound position of companies to pay the interest Debt Equity Ratio = Long term Debt/Equity to its creditors.
The SDML shows consistency Ratio/ 2003 2004 2005 2006 2007 2008 Time Interest Earned = EBIT in the ratio under the entire the study. (Table-5)
Year 04 05 06 07 08 09
Mean S.D.
C.V. Current Ratio
Debt-Equity Ratio Debt
Equity Ratio and ANOVA
SSM Ltd. 2.1 3.03 1.67 1.31 1.51 1.36 1.83 0.65 35.68 It measures the extent of equity covering Test SDM Ltd. 1.85 1.83 2.42 2.49 2.55 1.85 2.17 0.35 16.39 the debt. It is computed by dividing debt by Null Hypothesis: The capital structure of WI Ltd. 1.35 1.15
1.24 1.66 1.36 0.87 1.27 0.26 20.56 equity. Normally 2:1 debt equity ratio is Quick ratio considered to be standard. The range of debt clear that calculated value of 'F' (0.46) is SSM Ltd. 1.30 1.49 1.75 1.67 1.63 1.23 1.51 0.21 13.89 equity ratio in SDML was 0.13 to 0.36 times higher than the table value (3.11) so, null
all three units is un
in 2003-04 and 2005-06 respectively. Where hypothesis is rejected and alternative SDM Ltd. 1.30 1.49 1.75 1.67 1.63 1.23 1.51 0.21 13.89 WI Ltd. 4.69 1.43 2.78 6.46 3.65 3.54 3.76 1.71 45.47 as the average ratio of SSML and WIL were hypothesis is rejected. The difference is not
Vol.2.
Table 5 Leverage Ratios (Times)

Ratio/ Year Capital Gearing Ratio SSM Ltd. SDM Ltd. WI Ltd. Debt-Equity Ratio SSM Ltd. SDM Ltd. WI Ltd. Interest Coverage Ratio SSM Ltd. SDM Ltd. WI Ltd. 4.38 5.57 3.5 2.47 7.98 3.57 5.63 9.34 2.17 3.91 8.48 1.78 1.88 6.43 1.27 1.87 7.14 0.39 3.36 7.49 2.11 1.5 3 1.3 8 1.2 5 45.5 7 18.4 8 59.2 5 1.18 0.13 0.94 1.04 0.4 1.65 0.99 0.36 1.55 1.36 0.36 2.6 1.86 0.32 2.78 1.81 0.33 0.98 1.37 0.32 1.75 0.3 8 0.1 0 0.7 9 27.6 9 30.2 0 44.8 7 200 304 200 405 200 506 200 607 200 708 200 809 Mea n S. D. C.V .
0.7 0.15 0.87
0.72 0.27 0.72
0.65 0.38 0.65
0.57 0.36 0.76
0.77 0.33 1.04
0.98 0.33 0.98
0.73 0.30 0.84
0.1 4 0.0 8 0.1 5
19.0 4 27.6 3 18.3 1
due to a uniform debt equity proportion of companies. (Table-6) Table 6 ANOVA Test of Debt Equity Ratio Source of Variation Between Groups Within Groups Total SS 1.67 8.80 10.48 df 5.00 12.00 17.00 MS 0.33 0.73 F 0.46 F crit 3.11
4. Analysis of
analysis we will be covering the following These ratios are also called as turnover ratios: ratios. These will indicate position of the assets usage. In order to compute these ratios sales Inventory Turnover Ratio are divided by various types of assets such as Table 7 indicates that inventory turnover inventory, debtors and net fixed assets. The was 6.29, 2.88 and 9.81 times in SSML,
Activity Ratio :
ratios are expressed in number of times. The SDML and WIL respectively in 2007-08. This greater the ratio more will be of assets usage. went to explain that rupee invested in
The lower ratio will reflect the under inventory was able to generate 3 to 6 times of utilization of the resources available at the sales in the companies. The ratio indicates command of the companies. Always the there was much distinctive difference in the companies must plan for efficient use of the inventory turnover, but with regards to the assets to increase the overall efficiency. In this stability of the ratio, it was more uniform in SDML.
Table 7 Activity Ratios (Times)
Ratio/ Year Inventory Turnover Ratio SSM Ltd. SDM Ltd. WI Ltd. Debtors Turnover Ratio SSM Ltd. SDM Ltd. WI Ltd. Fixed Assets Turnover Ratio SSM Ltd. SDM Ltd. WI Ltd.
200 304
200 405
200 506
200 607
200 708
200 809
Me an
S. D.
C.V .
5.1 1 2.6 6 8.8 5
5.3 3 2.7 9 9.6 1
6.5 4 3.0 7 9.7 4
7.0 8 3.1 3 9.5 7
6.4 1 3.1 5 9.4 0
6.29 2.88 9.81
6.1 3 2.9 5 9.5 0
0.7 6 0.2 0 0.3 5
12. 33 6.8 1 3.6 6
4.1 1 11. 07 18. 72
4.9 3 10. 12 18. 8
5.3 8 10. 67 16. 05
4.6 2 10. 97 16. 08
4.5 3 11. 19 14. 09
5.26 10.8 3 14.4 4
4.8 1 10. 81 16. 36
0.3 3 0.4 9 2.7
7.1 6 4.5 1 18. 57
1.8 6 0.6 5 1.1 4
1.8 1 0.6 1.1 2
2.2 4 0.6 3 1.0 6
2.3 8 0.6 4 1
2.1 8 0.6 3 1.0 1
2.06 0.61 1.11
2.0 9 0.6 3 1.0 7
0.2 2 0.0 2 0.0 6
10. 64 2.9 7 5.5 2
Debtors Turnover Ratio and 17.84 percent in 2003-04 for SSML, In WIL highest debtor's turnover was of SDML and WIL respectively. In SSML and 18.8 times in 2004-05, while it was lowest SDML the ROI in 2003-04 was 8.61 percent 1.14.44 times in 2008-09. The trend of ratio and 10.15 percent respectively, which was shows fluctuating with an average ratio of lowest ROI among all units under study. 2.16.36 times. AS compared to WIL the ratio of In year 2007-08 the return on net worth of SSML and SDML was lower in 2004-05 to both these companies was lower during the 2007-08. The average ratio of SSML and study. The reason behind on this was lower SDML was 4.81 times and 10.81 times ROI in these years. The ratio of WIL shows a respectively. The SSML ratio was more stable steady return on net worth entire period under as compared to SDML and WIL. The ratio of the study because it's S.D. (5.17) and C.V. WIL indicates effective management of (62.00) is lowest among the companies.
debtors.(Table-7) F test suggest that there is uniformity in return on investment of all companies. Net Fixed Assets Turnover Ratio The sales ratio has been showing a It is evident from the Table-7 that the fixed significant feature of higher rates with greater assets turnover ratio of SSML was higher reliability and uniformity in SSML than the among all companies. The average turnover SDML and WIL during the entire period under was at 2.09,0.02 and0.06 times in SSML, the study. The S.D. of SSML was 1.20, which SDML and WIL respectively. The S.D.(0.22) indicates consistency in net profit margin. and C.V. (10.64) of SSML shows consistency in The average ratio of SSML was 2.59 times, the ratio as compared to SDML and WIL. which was highest among all the units of study. The S.D.(1.20) and C.V. (46.13) of SSML Summary of Finding and indicates consistency in total assets turnover than the SDML and WIL during the entire
Suggestions
Highest ROI among all units was period 13.99 under the study. percent in 2006-07, 20.83 percent in The 2005-06 study of impact of sales and assets on
ISSN : 0976-4712 13
Segment Reporting Practices: A Study Based on Indian

contributing factor more than assets for the reveals that SDML has no any gearing while variation in the rates of ROI of the companies. gearing in WIL is higher. In WIL debt equity
Banking Industry
It is suggested that the management of SSML ratio is higher and in SDML it is lower. The has to pursue the policy of maximizing assets; SDML are not using high debt even though its
Satyajit Ghorai
Lecturer, Bangabasi Evening College. Kolkata, West Bengal maximizing the sales by generating maximum taking the benefits of trading on equity. profit by introducing cost minimization and The result of F test indicates that the cost techniques. uniform proportion of debt and equity in the The liquidity position of WIL was quite companies under study. alarming since they are facing chronic In activity analysis inventory turnover of liquidity problems. While SSML liquidity SSML and SDML are satisfactory while in The segment reporting practices in the banking industry in India is examined in the light of the accounting standard (AS 17). Still there is a gap between the standard and the real practices. As a result, usefulness of the financial statements is losses over time. Therefore, to minimize the gap and to improve the quality of segment reporting certain suggestions are also provided. position also not quite good. Therefore, it is WIL it is poor. The debtor's turnover of WIL is suggested that the companies improve the very high but its fixed assets turnover is low. liquidity position wither by reducing The debtors and fixed assets turnover of SSML Introduction reporting practices of banking industry in excessive burden of current liabilities or and WIL should improve for generating higher In the age of convergence, IASB issued India, we have selected 10 public nationalized increasing the level of current assets profits. several IFRS on some relevant field. IFRS 8 banks which are playing predominant role in
'Operating Segment' is one of the important the banking sector and their financial s
tandards issued for reporting financial statements are relating to the financial year information segmentwise. In this backdrop, 2006-07, 2007-08 and 2008-
References
09. Therefore,
! Annual Reports of Respective Companies.
almost all countries
of the world are going to our specific objectives are as follows accept Bhayani, S.J. (2004). Practical Financial Statements, Raj Book Enterprise, Jaipur. the international standard IFRS. India What is the basis for determination of ! Clay, M. agreed to J. and Walley, B. H. (1965), Performance and Profitabilit, London, Longmans. converge with IFRS from 2010-11. primary segments and number of primary
As the IFRS is more strengthen and more segment disclosed?
Dutta S.K.(1992), Indian Tea Industry : An Appraisal, Management accountant, developed results into the quality of financial Has application of the guideline Calcutta on ! Fraenkel, J.R. and Wallen, N.E. (1990), How to design and evaluate research in statements are improved over time. There is a compliance of AS 17 resulted in the
positive relationship between price of reporting of a greater number of reportable ! Frank securities of the entities and its Pajares. The Elements of a Proposal. Emory University. quality of segments (i.e. primary or secondary)? ! Gupta R.L & Radhaswami, M (1980), financial statements. In other way it can Financial Statement Analysis, SC & Sons, Delhi, be Is there any consistency among the banks pp 40 stated that the negative relationship is also for the determination of segments?
! ! ! ! ! !
Gupta Santosh. Research Methodology Methods and Statistical Techniques Gupta, B.N., Statistics (Theory and Practice). Hiram, S. Davis, (1955), Productivity Accounting .op. cit. p.13 Khan & Jain (1987), Management Accounting, Tata McGraw Hill, New Delhi. Kothari C.R. (2007), Research Methodology Methods and Techniques Krishna Pennathur(1985), Trade Union and Productivity, The Economic Times, July pp.5 ! Locke, L.F., Spirduco, W.W., & Silverman, S.J. (1987), Proposal that work: A guide for p l a n n i n g
d i s s e r t a t i o n s a n d g r a n t p r o p o s a l s , I I E d i t i o n , N e w b u r y
P a r k , C A : S a g e .
!
P a n d e y I . M ( 1 9 9 5 ) , F i n a n c i a l M a n a g e
m e n t , V i k a s p u b l i s h i n g H o u s e , N e w D e l h i
!
P a r m a r , S . J
( 1 9 9 1 ) , F i n a n c i a l M o d e r n M e t h o d s , T o o l s & t e c h n i q u e s ,
R a j B o o k seen between cost of capital and quality of What specific items banks disclosed for disclosers in the financial statements. So with their primary segments? a view to achieving the modern business The size of the primary segments in term philosophy that is maximization of wealth, of revenues, result and assets. every entity should try to improve its quality of To judge the necessity of preparing financial statements by adopting the quarterly segment report along with the
international accounting standard IFRS. In yearly segment report. this conjunction it may be found that some What is the basis for determination of entities belonging to India are adopting the secondary segments and number of IFRS for the preparation of their financial secondary segments?
statements before 2010-11 or it may be happen that they are positively prepared for What are the major items disclosed for adopting
, NJ: the IFRS from the next financial year. In this each secondary segments?
prominent development phase it is necessary On what basis the joint cost, joint assets, to study the recent financial reporting and joint liabilities are distributed among practices followed by the Indian entities. But the segments? due to the cost and time constraint we are only Whether any bank is disclosing any interested to
study the segment reporting segment wise information voluntarily; practices of the banking industry of India. To what are those? examine the current status of segment Vol.2.
15
Segment Reporting Practices Segment Reporting Practices
Source: Computed from published Annual primary segments have less than 10% Assets
Reports of the banks. of the total Assets of the enterprises. The s The above table demonstrates that out of remaining 16 segments (belong to Indian 96 primary segments of sample banks 79 Bank, Andhra Bank and Allahabad bank) have segments earn above 10% revenue of the total not disclosed their respective assets. revenue of the enterprises and the remaining The table demonstrates that out of 96 17 primary segments earn less than 10% of the primary segments of sample banks 78 total revenue of the enterprises. segments have contributed more than 10% Banks / Years Allahabad Bank Andhra Bank Bank of Baroda Bank of India Canara Bank Dena Bank Indian Bank Indian Overseas Bank Punjab National Bank Vijaya Bank 2006-07 Types B B B B B B B B B B Nos. 2 2 2 2 2 2 2 2 2 2 2007-08 Types B B B B B B B B B B Nos. 4 4 4 3 3 4 4 4 4 4 2008-09 Types B B B B B B B B B B Nos. 4 4 4 3 3 4 4 4 4 4
The above table demonstrates that out of Profit towards the overall result of the Bank 96 primary segments of sample banks 67 and the
remaining 18 primary segments have segments have more than 10% Assets of the contributed less than 10% Profit towards the total Assets of the enterprises and the 13 overall result of the Bank.
3. Items of Disclosure made by reported Primary Segments Table-4 Disclosure Made by Primary Segments of Sample Banks
S o u r c e : C o m p u t e d f r o m p u b l i s h e d A n n u a l T h e a b o v e t a
b l e s h o w s t h a t 1 6 o u t o f 3 0 R e p o r t s o f t h e b a n k s . A n n u a l R
e p o r t s h a v e d i s c l o s e d 4 b u s i n e s s N o t e : B B u s i n e s s S e g m e n
t . s e g m e n t s a s t h e i r p r i m a r y s e g m e n t s . I n t e r m o f The above table indicates that all the percentage, this indicates that 53% of the sample banks disclosed segment wise data for sample Annual Reports has reported 4 the selected financial periods as they have business segments as their primary segments. segmented their business into more than one segment. All the banks have chosen the 2. Size of the Primary Segments business segment as their primary Segment. Table-3 Frequency distribution of the The number of primary segments disclosed by contribution of reported primary segments the sample banks is 2 for the accounting period towards the total revenue of the banks , 2006-07 and 3 or 4 for the
accounting periods assets of the banks and Profit or Loss 2007-08 and 2008-09. Table-2 Frequency distribution of number of Primary Segments
Banks Accounti ng Periods Brief Descripti on of segment s N N N N N N N N N Y Y Y Y N N N N N N N N Reve nue Ass ets Lia bilitie s Y Y N Y N Y Y Y Y Y Y Y Y Y Y Y Y Y Y N N Capit al Expe nses N N N N N N N N N N N N N N N N N N N N N Non Cash Expen ses N N N N N N N N N N N N N N N N N N N N N Basis of Trans fer Pricin g N N N N N N N N N Y Y Y Y N N N N N N N N
Allahab ad Bank Andhra Bank Bank of Baroda Bank of India Canara Bank Dena Bank Indian Bank
2006-07 2007-08 2008-09 2006-07 2007-08 2008-09 2006-07 2007-08 2008-09 2006-07 2007-08 2008-09 2006-07 2007-08 2008-09 2006-07 2007-08 2008-09 2006-07 2007-08 2008-09
Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y
Y Y N Y N Y Y Y Y Y Y Y Y Y Y Y Y Y Y N N
Number of Primary Segment 1 2 3 4 More than 4 Total
Number of Annual Report nil 10 4 16 nil 30
Number of Primary Segments
Percentag e of the
Gross Reven
Gros s Asse
Profit or
revenue Above 60 50-60 40-50 30-40 20-30 10-20 Below 10 Not Disclosed Total
ue 10 Nil 7 23 37 2 17 96
ts 8 2 8 25 21 3 13 16 96
Loss 15 1 7 18 15 22 18 96
Source: Computed from published Annual Reports of the banks.

16 17
Segment Reporting Practices Segment Reporting Practices
Indian Overse ase Bank Punjab Nationa l Bank Vijaya Bank
2006-07 2007-08 2008-09 2006-07 2007-08 2008-09 2006-07 2007-08 2008-09
N N N N N N N N N
Y Y Y Y Y Y Y Y Y
Y Y Y Y Y Y Y Y Y
Y Y Y Y Y Y Y Y Y
N N N N N N N N N
N N N N N N N N N
N N N N N N N N N
Note: G Geographic Segment. N.ANot Applicable. The above table indicates that 6 out 10 sample banks disclosed Secondary Segments but remaining 4 banks have not disclosed the Secondary Segments. In term of percentage, 60% of the samples Banks have reported their Secondary Segments and remaining 40% has not reported their Secondary Segments. Those sample banks disclosed Secondary Segment they have chosen Geographic Segment as their Secondary Segment. The number of Secondary segment disclosed by all theSource: Computed from published Annual Reports of the banks. reported sample banks is 2 over the period of Note: YYes. study. N No.
The above table provides major disclosure disclosed their net capital employed segment-Table -6: Frequency distribution of the made by the reported Primary Segments of the wise. No sample banks disclosed their capital contribution of reported secondary segments Sample Banks. Only Bank of India disclosed expenses and noncash expenses for their towards the total revenue of the banks and brief description about the Reported Primary reported Primary Segments. Most of the total assets of all Geographical Segments segments, but no other sample Banks provide sample banks not disclosed the basis of the banks primary segments have less than 10% Assets of the total Assets of all the Geographical Segments. 6. Items of Disclosure made by reported Secondary Segments Table-7 Disclosure made by Secondary Segments of Sample Banks
Source: Computed from published Annual Reports of the banks. Note: YYes. N No. N.ANot applicable. T h e above ta b le pr o v ide s major disclosures made by the Sample Banks for their reported Secondary Segments. None of the sample Banks disclosed the brief description about their Reported Secondary segments. All Secondary Segment Reported sample banks disclosed their Revenue and Assets segment-wise only but not capital
Number of Secondary Segments
Percentag e of the revenue Above 60 50-60 40-50 30-40 20-30 10-20 Below 10 Not Disclosed Total
Total Revenu e 18 Nil Nil Nil Nil 6 12 36
Total Assets of all Geographical Segments 18 Nil Nil Nil 3 3 12 36
expenses. their Revenue segment-wise. Most of the this information but it can not disclosed the sample banks provide segmental assets and inter segment revenue. Although the basis of this information. All sample banks disclosed transfer pricing. Only bank of India provides
Major Finding
liabilities except the Allahabad bank for 2008-segment pricing is disclosed, it is not used to
!
09, Andhra Bank for 2007-08, and Indian prepare the Segment Report. inancial statements segment wise along Bank for 2007-08 & 2008-09.But those banks f
All nationalized ba
with the aggrega are various basis fo 4. Nature and number of the secondary segments
segments of an ent Table-5 Disclosure of Secondary segments
differences in risk organization struct banks for identifica disclosed any wher
Banks / Years Allahabad Bank Andhra Bank Bank of Baroda Bank of India Canara Bank Dena Bank Indian Bank Indian Oversease Bank Punjab National Bank Vijaya Bank
2006-07 Types G N.A G G G N.A G G N.A N.A Nos. 2 N.A 2 2 2 N.A 2 2 N.A N.A
Each and every sample bank disclosed four primary segments except Bank of India and Canara Bank. Some of the reported primary segments did not fulfill The above table demonstrates that out of 10% criteria even though the summation 36 reported Secondary Segments of sample of revenues of all other segments was more banks 24 Segments earn above 10% revenue than 75%. of the total revenue of the enterprises and the
! From the Accounting period
2007-08 most
remaining 12 Secondary Segments earn less of the sample banks
disclosed four primary than 10% of the total Revenue of the segments and they are all enterprises. segment. That may indicates that the business The above table demonstrates that out of guidelines issued by RBI have a positive 36 Secondary Segments of sample banks 24 effect on the number of segment disclosed Segments have more than 10% Assets of the by banks. Source: Computed from published Annual Reports of the banks. enterprises and the 12 total Assets of the
! The number of segment disclosed by the

19
Segment Reporting Practices
the comparability of the automatically enhanced. Banks Accounti ng Periods 2006-07 Brief Descript ion of Segmen ts N Revenue Assets
financial Capital Expense s N
statement
is
Allahabad Bank
2007-08 2008-09 Andhra Bank 2006-07 2007-08 2008-09 Bank of Baroda 2006-07 2007-08 2008-09 Bank of India 2006-07 2007-08 Canara Bank 2008-09 2006-07 2007-08 2008-09 Dena Bank 2006-07 2007-08 2008-09 Indian Bank 2006-07 2007-08 2008-09 Indian Oversease Bank 2006-07 2007-08 2008-09 Punjab National Bank 2006-07 2007-08 2008-09 Vijaya Bank 2006-07 2007-08 2008-09
N N N.A N.A N.A N N N N N N N N N N.A N.A N.A N N N N N N N.A N.A N.A N.A N.A N.A
Y Y N.A N.A N.A Y Y Y Y Y Y Y Y Y N.A N.A N.A Y Y Y Y Y Y N.A N.A N.A N.A N.A N.A
Y Y N.A N.A N.A Y Y Y Y Y Y Y Y Y N.A N.A N.A Y Y Y Y Y Y N.A N.A N.A N.A N.A N.A
N N N.A N.A N.A N N N N N N N N N N.A N.A N.A N N N N N N N.A N.A N.A N.A N.A N.A
Some banks provides the segment reporting policy in their Directors' report part of their Annual Report, most of the cases it is same as it is used to prepare the aggregated accounts. ! It is the duty of auditors to ensure that the Accounting Standards are implemented in the presentation of financial statements covered by their audit reports. Thus, the auditor is clearly responsible with respect to compliance of the accounting standards in discharging his/her duties, but it has been observed that in the audit report auditors remained silence about the compliance of accounting standard for preparation of segment report. ! It is important to highlight that all sample banks disaggregated their operations and disclosed the segment information se gm e n t w is e , b u t s o me o f t h em aggregated the information relating to a particular segment. As for example, some banks have not disclosed the assets and liabilities segment-wise. Results into the user of financial statement are not getting their desire information (i.e. disaggregated information); as they can not find out how much assets and liabilities actually hold by the reported segments. It may indicate that the banks have a tendency to not disclose their financial information in disaggregate form.
One problem relates to segment reporting is assets distribution among various reported segments due to the existence of various methods of distribution. Some eminent research scholars found it and suggest to disclose the basis of assets distribution in the financial statement, but no sample banks disclose this information. No sample banks disclose the transfer pricing method except Bank of India. Although it can not used this method in practical as it not disclosed the inter segment revenue. banks is the same as recommended in the banks are very much dependent on these ! No sample banks disclosed about the segmented non-cash expenses and capital
ts, expenses, although this information is require by statue. All sample banks remain silent about any other disclosures which are not mandatory that is voluntary disclosure. From the findings it is very much clear that
Suggestions
there is a gap betw and accounting pra desirable to us. So as
! ! ! ! !
! ! !
to improve the q reporting, we provid which are given bel All entities have to disclose a brief description about the reported segments such that users of financial statement easily understand about the reported segments. Entities should disclose the basis upon which they identify their reported segments. The segmental reporting system should be supported by guidelines for allocation of joint costs to reporting segments and transfer pricing policy. Entities should also disclose the basis upon which they distribute total assets among their reported segments. A contribution format can be used instead of disclosing about the assets distribution basis because it separates fixed costs from variable costs and it enables the calculation of a contribution margin. In this case, traceable fixed costs should be separated from common fixed costs to enable the calculation of a segment margin. Entities should have to disclose non-cash expenses and capital expenditure for all reported primary segments as those are required by the statue. Auditor should repot about the compliance of accounting standard for preparation of segment report. Disclosures about secondary segments are not sufficient to meet the needs of users. Most of sample banks disclosed their geographical segment as a secondary segment by segregating two segments; domestic and international, this not
segments, segment-wise research and development cost, and certain forward looking information such that they can easily access the new and biggest capital market all over the world at very low cost(lower cost of capital) by increasing i n v e s t o r c o n f i d e n c e i n c o m p a n y management.
ISSN : 0976-4712
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A Role of Stimulation for Selection of Health Insurance (with Special Reference to Thanjavur District)
V. Pothigaimalai
Assistant Professor, Sengamala Mannargudi, Tamil Nadu Thaayar Educational Trust Women's College,
K. Bharathipriya
Assistant Professor, Sengamala Mannargudi, Tamil Nadu Thaayar Educational Trust Women's College,
The most important necessities that families and individuals all over the world prioritize above all is health and wellness. Despite caution, it is impossible for an individual to avoid danger. Accidents and sickness has become part of life. the impact of an occurrence of an accident/sickness/illness/disease does not give only physical pain but economic loss too. Now a days admission in a hospital and getting treatment is a costly affair, meeting hospital expenses is beyond their capacity for many of the individuals. Health insurance scheme provides adequate comfort level to face such contingency boldly. Health insurance provides adequate comfort level to face such contingency boldly. Health insurance provides risk coverage against unforeseen health expenditure that may result in financial hardship. As there is no major social security support in India, the need for health insurance is a subject of prime importance. Only 10% of the Indian population has health insurance which means there is tremendous scope for growth in this area. Health insurance is one of the fastest growing areas in insurance industry and is expected to grow at Rs 30,000 corers in 5 years. During 2008-09 health insurance premium was Rs 6600 crores, and it has increased to Rs. 8100 crores during 2009-10 recording a growth rate of 25%. So this study mainly focus on stimulation among health insurance. rational enough. So the processes of identification of secondary segment and disclosers have to be improved such a manner so that reported segments are differ from each other due to their different rate of risk and return.
Entitles have to disclose certain voluntary information like segment-wise cash flow statement, human recourses of reported
References ! Backer, M. and ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !
McFarland, B.W., (1968) External Report for Segment of a Business, New York: National association of Accountants. Balakrishna, R., Harris, T.S. and Sen, P. K., (1990) The Predictive Ability of Geographic Segment Disclosure, Accounting Review, Autumn. Banerjee, B., (1999) Regulation of Corporate Reporting in India: perception of users A case study, Indian Journal of Accounting, December. Banerjee, B., (2001) Accounting Standard Setting in India: an Evaluation, Corporate Financial Reporting, DSA in Commerce, Calcutta University. Banerjee, B., (2001) Corporate Financial Reporting Practices in India, Indian Journal of Accounting, December. Basu, A.K., (2008), Accounting Standards and the Standard Regime in India, India Accounting Association Research Foundation. Berger, G. Philip and Hann, N. Rebecca, (2007) Segment Profitability and the Proprietary and Agency Costs of Disclosure, The Accounting Review, Vol. 82, No. 4, pp.869-906. Biddle, G. C. and Choi, J. H., (2002) Is Comprehensive Income Irrelevant?, Working Paper, Hong Kong, University of Science & Technology. Chandra, Gyan, (2002) Voluntary Disclosures and Corporate Financial Reporting, Indian Accounting Review. Choi, F. D. S., (2003) International Accounting and Finance Handbook, John Wiley & Sons, New York. D'Souza, Dolply, (2007) Indian Accounting Standard & GAAP: Interpretation, Issues and Practical Application, Snow White Publication Pvt. Ltd., Mumbai. Pp. 540-617. Ghosh, T. P., (2009), Understanding IFRSs, Taxmann Publications (p.) Ltd., New Delhi. Hunton, E. James, Libby, R., Mazza, L. Cheri, (2006) Financial Reporting Transparency and Earning Management, The Accounting Review, Vol.81, No. 1, Pp. 135-157. Institute of Chartered Accountant of India, (1979) Preface to the Statement of Accounting Standards. Institute of Chartered Accountants of India, (2000) AS 17: Segment Reporting. Mallick, A. and Rakshit, D., (2005) Transfer pricing: View in the Context of Segment Reporting, The Management Accountant, July. Nobes, C. and Parker, R., (2000), Comparative International Accounting, Prentice Hall. Porwal, L. S., (2001), Accounting Theory: an Introduction, Tata Mc Grawhill Publishing Company limited, New Delhi. th Rawat, D. S., (2006) Accounting Standards, 9 edition, Taxmann Allied Services (P.) Ltd., New Delhi, Pp. 236-256. Sen, S., (2001) Segment Reporting: An Overview, Corporate Financial Reporting, DSA in Commerce, Calcutta University. Sen, S., (2005), Segment Reporting In India, Jyotsna Publishing House, Kolkata.
Introduction
In short, health insurance in a narrow sense would be an individual or group purchasing health care coverage in advance by paying a fee called premium. In its broader sense, it would be any arrangement that helps to defer, delay, reduce or
altogether avoid payment for health care incurred by individuals and households, Health insurance sector is a sector with a lot of potential. However, of India's total population in urban and rural sector, less than 10 per cent are insured. Lack of awareness about various schemes has been one of the major challenged in spreading rural health insurance. The other challenges are selecting an appropriate distribution channel to meet the needs of the widely dispersed population and trying up financial support for premium funding in the economically weaker sections. In this scenario, a study on health insurance becomes inevitable. I.C Tiwari (1992) has examined the strengthening of health delivery system. His study focuses on the notable progress made in the field of health care since independence as well as various problems faced by the country such as continuance of the communicable diseases, prevalence of malnutrition, shortage of nursing personnel and increase in the non- communicable diseases.
Health Insurance Overview

Health insurance like other form of insurance is a form of collectivism by means of which people collectively pool their risk in this case the risk of incurring medical expenses. A health insurance policy is a contract between an insurance company and an individual or his sponsor the contract can be renewable annually or monthly. Need for Health Insurance Increasing urbanization. Data Analysis and Interpretation Environmental pollution is causing Table-1- Age and Gender of the respondents serious health problems. Statement
of the Problem
F a s t s p r e a d i n g A I D S , S w i n e F
l u , T B , H i g h f i n a n c i a l b u r d e n o n t h e p o o r a n d C a n c e
r , D i a b e t e s , p o i s o n o u s g a s e s , i n c r e a s i n g l e v e l o f
n e w d i s e a s e t o m o t i v a t e f o r v a r i o u s w a s t e s i n c l
u d i n g n u c l e a r w a s t e t a k e n h e a l t h i n s u r a n c e p o l i c
y . w h e n i t s t r i k e s g e n e r a t e d b y t h e p e o p l e a
r e s e r i o u s l y a n d i n d e v e l o p i n g c o u n t r i e s f e w f a m
i l i e s endangering the life on earth. U s e o f p e s t i c i d e s , a n d i n t r o d u c
t i o n o f n e w h e a l t h c a r e b u d g e t s t o h a n d l e i t a s
a r e s u l t h y b r i d v a r i e t i e s , r e d u c e s t h e i m m u
n i t y a n d m a n y r e s o r t t o i n e f f e c t i v e t r e a t m e n t o p t i o
n s a f f e c t s t h e h e a l t h o f t h e h u m a n s . i n c l u d i n g
f a i l i n g t o f o l l o w t h e f u l l p r e s c r i p t i o n
S.N o 1. 2. 3. 4.
A person may face serious monetary course self medication with purchase of drugs Source: primary data problems of the medical treatment and from local pharmacies. Using inappropriate The table shows that 31% of the respondents belong to the age group of 2535, 28%of the hospitalization's during life. traditional medicines or ignoring the illness in respondent belong to the age group of upto 25, 22% of above 50 and 19% of the respondents Despite caution, it is impossible for and the hope that it will go away on its own these belong to the age group of 35-45. The table reveals that 58% of the respondents are male and 32%
w the disease to of the respondents are female.
Table-2 Family/Marital Status of the Respondents A d m i s s i o n s i n h o s p i t a
l s a r e a c o s t l y a f f a i r i n c r e a s e t h e c o s t o
f t r e a t m e n t i n t h e l o n g r u n w h i c h p o s e s p r
o b l e m f o r m a n y o f t h e p r o g r e s s p o o r c o p i
n g m e c h a n i s m s h e n c e l e a d individuals. to lost productivity increased .

This is the second largest contributor
Facts about Health Insurance
Objectives of the Study
general insurance premiums after mo 1. To understand th socio economic

S.N o 1. 2. Marital status Married Unmarri ed Total No of respond ents 90 40 120 Percentage 75 25 100 Nature family Nuclea r Joint Total of No of respond ents 100 20 120 Percent age 83 17 100
Source : primary da
insurance.
background of the respondents
Fastest growing segment in non-life 2. To find out the stimulating factor The table shows that 75% of the respondents are married and 25% of the respondents are Sector 5 year growth rate of 37% governing selection of health insurance unmarried. The 3. To study the need for health insurance Annual growth rate 25% family type showed that 83 %of the family is nuclear and remaining 17 % were in 4. To know the awareness level of system. joint family
Health insurance comprised 20% of the market in FY. 09 and is expected to be 26% respondents about the health insurance Table-3 Educational Qualification and Annual Income of the Respondents of the market in FY10' Annual premiums in FY 09 of $ 1.4 billion expected to increase to $6.2 billion by FY15. Private insurers are more aggressive in this segment.
Growth Drivers for the Health Insurance Industry Increasing awareness about health insurance. Rising health care costs that have increased the need. Introduction of government schemes like Arogyasree, RSBY. Detariffing of general insurance industry. Higher disposable income and savings.
Research Methodology
The study is conducted in Thanjavur city a non probability sampling procedure namely convenience sampling method was used to select sample respondent for the study the sample size consists of 120 respondent who have health insurance policy for the purpose of the study the needed information is collection from primary and secondary sources. The primary data were collected through interview Source: primary datas c h e d u l e fr o m t h e s e l e c t e d s a m pl e respondents. the secondary data were The table reveals that 49% of the respondents are graduate 24% of the respondents are school collected from published record of insurance level, 15% of the respondents are post graduate and 12% of the respondents are technical
S.N o 1. 2. 3. 4.
Qualificatio n School level Graduate Post Graduate Technical education Total
No of respond ent 29 59 18 14 120
Percentage 24 49 15 12 100
A i
<
5 1 1 1 1 2 T
corporation books and research articles education. The tables shows that 46% of
the respondents had annual income 1,00,000 1,50.000. ,journal ,internet. while 29% of the respondents had 150,000 17% of the respondents had 50,000 1,00,000 and 8% of the respondents had upto 50,000
24 25
Role of Stimulation for Selection of Health Insurance Role of Stimulation for Selection of Health Insurance
Table-4 Annual Premium Paid by the Respondents Table-6 Exposure to Most Recent Health Risk by the Respondents
S.No A n n u a l p r e m i u m N o . o f r e s p o n d e n t p e r c e n t a g e
1. U p t o 2 0 0 0 75 62 2. 2000 -4000 25 21 3. Above 4000 20 17 Total 120 100
Source: primary data The table reveals that 62% of the respondent are paid annual premium up to 2000,21% of the respondent are paid 2000-4000 and 17% of the respondent are paid Above 4000.
Stimulation Factors for Selection

10
points, followed by II rank, a weightage of A focus was made to study the factor
of Health Insurance Policy
points, III rank (8 points ), Iv rank (6 points ), V of governing selection of health insurance
rank (4 point ), VI rank (1 point). The number
responses for each rank for a given factor is policy. The factors include low premium multiplied by their respective weights. Then the amount, sum insured, coverage of diseases, weighted score are summed up to arrive at reimbursement, cashless settlement at the total score for that factor. The same method the time of hospitalization, coverage for is adopted to arrive at the total score for all the the entire family etc. Weighted score factors. On the basis of the total score for all method insured to the factors, final rank is given to each factor, I ascertain the final rank to each factor. The rank is given to the factor with the highest total
score and II rank is given to the factor with the which govern the health insurance policy. For next higher total score and so on. each factor, I rank carried a weightage of 12 Table-5-Factor Stimulating Selection of Health Insurance Policy
I RANK Factors No poi nts II RANK No poi nts III RANK N o poi nts IV RANK N o poi nts V RANK No poi nts VIRANK N O poi nts Tot al sc or e 50 0 43 8 54 0 29 8 37 4 37 0 Ove r all Ran k II III I VI IV V
respondents were asked to rank the factors
Low premium amount Sum insured Coverage of diseases Reimburse ment Cashless settlement Coverage for entire family Total
30 22 40 10 12 6 12 0
180 132 240 60 72 36
24 26 28 8 12 22 12 0
120 130 140 40 60 110
3 0 1 8 2 4 6 2 0 2 2 1 2 0
120 72 86 24 80 88
1 6 1 8 1 2 2 4 2 6 2 4 1 2 0
48 54 36 72 78 72
6 7 6 15 17 9 120
24 28 24 60 68 36
8 2 2 4 4 2 1 6 2 8 1 2 0
8 22 4 42 16 28
Source: primary data The above table reveals the opinion of the respondents regarding the factors that govern the selection of health insurance policy it could be seen that the coverage of disease scored highest followed by low premium amount sum insured cashless settlement at the time of hospitalization , coverage for entire family ,and reimbursement of hospitalization expense
Vol.2. No.3. July-Sept. 2011 SHARE Journal of Multidisciplinary Research & Studies Risks Accident illness leading to permanent disability Hospitalization, surgical treatment needed Hospitalization, therapeutic treatment needed Only urgent medical help needed Without Hospitalization, needed to visit doctor No.of respondents 10 30 25 15 40 Percentage 9 25 21 12 33
Source: primary data Exposure to health risks by respondents: people exposed to different risks depending on the environment in which they live and their livelihood strategies. Some risks are frequent and less severe i.e., minor health problem, some are less frequent but when they strike they demand immediately a big lump sum money to recovery from them. Exposure to risk among respondents is understood from table 3 Table -7 Awareness About Health Insurance
Sources TV Advertisement Displays Newspaper Family members Insurance agents No of respondents 30 12 30 8 40 Percentage 25 10 25 7 34
Source; primary data The major source of awareness about health insurance among the respondents was insurance agents. this followed by newspaper, television and advt. Table-8 Benefits Derived from Health Insurance
Benefits Unexpected risk Tax benefit Cover for specified diseases Security at the old age No of respondents 50 15 30 25 Percentage 42 12 25 21
Source: primary data It is observed from the above table 42% of ! Awareness and importance of health to be the respondents said that cover risk.25%are imparted among public. Moreover the said to be to cover for specified diseases.21% spiraling cost of healthcare necessitated of the surplus of investment. and 12% of the the respondents to give primary tax benefits. importance to health insurance policies ! Increasing reach, access and affordability and More comprehensive products.
Suggestions Delay in getting claims settled be avoided !

constant education to the in order to improve the satisfaction of clients. insured periodically. Continuing and
ffd8ffe000104a46 0100000c484c696e 00616373704d5346 6d6000100000000d 0000000000000000
0003364657363000 0000147258595a00 0000014646d6e640 0000008676696577 c000000247465636 3c0000080c625452 6329203139393820 3630000000000000 0000127352474220 0000000000000000
ISSN : 0976-4712
Role of Stimulation for Selection of Health Insurance
Health insurers should attempt to enlarge and large portion is not covered under health
Receivable Management: An Empirical Study

the scope of coverage and look for newer insurance .so, the health insurance
with
!
policy may avenues be a useful scheme for all the people because it
Reference
to Pharmaceutical Company
Health advisor selection process, covers unexpected risk of hospitalization and candidate specification is the most vital medical expenses. Nowadays medical Dr.
Shital P. Vekariya
and the success rate directly depends on it. expenses are Lecturer , Lt. M. J.Kundaliya Eng. Med. Mahila Com. &
increasing, hence it becomes
B.B.A. College, Rajkot, Gujarat In order to increase the end use of the inevitable for public to take the policy to avoid products the insurance companies can be risk and enjoy benefits of health insurance. conduct frequent exhibition advertising Keeping this context in mind campaigns in various organization The success of any health insurance
!
T h e r e i s a n e e d e d
f o r i n s u r e r t o u n d e r t a k e a s c h e m e w o u l d d e p e n d o n i t s d
e s i g n , t h e d e m a n d a u d i t i n o r d e r t o u n d e r s t a n d w a n t i m p l
e m e n t a t i o n a n d m o n i t o r i n g m e c h a n i s m s t h e p o l i c y h o l d e r w a n
t s a n d n e e d s . w h i c h w o u l d b e s e t i n p l a c e a n d i t w o u l d a
l s o A liberal credit policy not only increases sales and profit, the costs is also increases according to the size of receivable. Receivable represent amounts owed to the firm as a result of sale of goods or services. The period of credit and the extent of receivable depend upon the credit policy framed by the organization. For the purpose of research, researcher has selected 5 units as sample. For the purpose of analysis, researchers have used ratio techniques and to test hypothesis ANOVA technique has been used. The result of the study indicates that the receivable management is not call for restructuring and reforming the health that much
efficient and effective in Indian industries.
C o n c l u s i o n
s y s t e m , a n d d e v e l o p i n g t h e n e c e s s a r y
I n d i a i s a n a t i o n w i t h a h u g e p o p u l a t i o n p r e r e q
u i s i t e s t o e n s u r e i t s s u c c e s s . t h e s t u d y Key Words : Receivable Management, Pharmaceutical Company
was conducted to analyze and understand
I ntroduction Review of Literature References A sound managerial control requires Sagan in his paper (1955), perhaps the first ! Data for Health
Insurance, IRDA Journal, March,p.6 efficient and effective management of liquid theoretical paper on the theory of working ! Http;//www.globaling.org/health /world/index.htm. assets and inventory. An efficient use of capital management,
emphasized the need for ! Kathirvel N. (2009), Impact of Media Advertisement on Life Insurance, The ICFAI Journal financial resources is very much necessary to the management of working capital accounts of risk and Insurance, April Vol; VI No:2 , pp44-51 avoid financial crisis. Receivable are the result and warned that it could vitally affect the ! Nagendranath, A and Palavers Chary (2002), Health Insurance in India; The Emerging of credit sales. A concern is required to allow health of the business. Walker (19640 made a Paradigms, New Delhi. credit sales to increase its sales volume. pioneering effort to develop a theory of ! Agarwala R.G. (2010), Proposed Developments in Health insurance sector in India The Receivable represent amounts owed to the working capital management by empirically Insurance Times,Feb, Vol : xxx No:2 pp 18-19 firm as a result of sale of goods or services. testing, though partially, three propositions ! Rao and Sujatha(2004), Health Insurance: Concepts ,Issues and Challenges, Economic and Receivable are also known as book debts, trade based on risk-return trade-off of working political weekly Aug 21 receivable, customer receivable, account capital management. Walker studied the effect receivable. The period of credit and the extent of change in the level of working capital on the of receivable depend upon the credit policy rate of return in nine industries for the year framed by the organization. The major costs 1961 and found the relationship between the involved in management of receivable are (1) level of working capital and rate of return to be Collection cost (2) Capital cost (3) negative. The first, small study conducted by Administrative cost (4) Default cost. National Council of Applied Economic Receivable of the firm may goes up because of Research (NCAER)(1966) with reference to the liberal credit policy of the firm. While a working capital management in three tight or strict credit policy implies that the firm industries namely, cement, fertilizer and sugar. sells on credit on a highly selective basis and The study revealed that inventory constituted a only to those customers whose financial major portion of working capital i.e. 74.06% in position is very sound. A liberal credit policy sugar, 63.1% in cement and 59.58 in fertilizer not only increases sales and profit, the costs is industry. Misra (1975) studied the problem of also increases according to the size of working capital with reference to 6 selected receivable. Among many factors that influence public sector undertakings in India over the the size of receivable are volumes of credit period 1960-61 to 1967-68. In all the selected sales, credit policy, credit period, cash enterprise, inventory constituted the more discount. important element of working capital. Vijaykumar and venkatachalam (1995)
28 29
Receivable Management Receivable Management
studied the impact of working capital on Wockhardt. The period of the study was five Source: Computed from the data available in money control profitability in sugar industry in Tamil Nadu by selecting 6 co-operative and 7 private sectors over the period 1982-83 to 1991-92. They concluded through correlation and regression that inventory ratio, receivable ratio and cash ratio influenced the profitability. Khandelwal (1985) investigated the working capital management process and practices among 40 small-scale industries in the state of Rajasthan, between 1975-76 and 1979-80. The study reveals that the management of receivable was highly ineffective and disorderly. Dr. Bhayani (2004) has conducted study on working capital and profitability of cement industry and found profitability is highly influenced by working capital and linkage between asset management and profitability of Indian industry. While many s t u d i e s h a v e n o t e d t h a t r e c e i v a b l e management was a neglected area, Oppedahl and Richard (1990) examined the causes for such neglect. They found that management was pre-occupied with capital budgeting projects, which affected the quality of working capital decision. The essay revealed that receivable constituted the most important element of working capital and hence, recommended that the managers need to be very cautious in the management of the same, in order to minimize default risk.
Methodology of the Study
Sources of the data: Receivable Management: An Empirical Study With Reference To Pharmaceutical Company has been made by using data from financial statements of All the five major players in Pharmaceutical industry, they are Ranbaxy, Dr. Reddy, Cipla, Sun pharma, Table 1 - Ratio of Receivable to Total Assets (%) of sample units
Year Ranbaxy Dr. Reddy Cipla Sun Wockhardt Mean 2005-06 18.33 18.24 35.72 7.98 11.72 18.398 2006-07 14.61 22.45 30.62 8.81 15.28 18.354 2007-08 13.77 17.02 32.14 24.48 18.91
21.264 2008-09 20.51 24.07 34.72 13.14 18.39 22.166 2009-10 13.76 16.37 26.23 9.62 18.18 16.832 Mean 16.196 19.63 31.886 12.806 16.496
years from 2005-2006 to 2009-2010. The data was collected from money control database and from the annual reports of respective companies.
19.4028
Hypothesis for the study: 1.1. The size of receivable in total assets is uniform in sample units. 2.2. The size of receivable in current assets is uniform in sample units. 3.3. Receivable turnover is uniform in sample units. Techniques of Analysis: For the purpose of analysis various ratios relating to receivable management is selected and calculated, the statistical tools and techniques such as mean and ANOVA test were also applied to analyze the consistency, stability and overall trends in the different receivable management of the sample units.
Empirical Analysis
Ratio of Receivable to Total Assets: Percentage of receivable to total assets is the indicator of effective management of
receivable. It is found out by using the following formula: Ending receivable/total assets100. Gitman (2001) suggested that an average manufacturing firm could not afford to have more than 16 % receivable to total assets. However in Indian context, Bhattacharya (2003) observed that an average Indian company maintained 26% of receivable to total assets, which is very much higher than the standard ratio suggested by Gitman. The percentage of receivable to total assets represented in table 1.
Table 2 -One-way ANOVA results for the ratios of Receivable to Total Assets (%) of sample units
Source of Variation Between Groups SS D f 4 MS F P-Value F Crit
1090.6 272.66 15.011 8.05985E- 2.8660 64 59 83 06 81 Within Groups 363.26 2 18.163 81 0 4 Total 1453.9 2 32 4 S = Sum of squares, df = degree of freedom, MS = Mean square, F cal = Calculated value of F ratio. P-value probability value of F ratio and F crit = Critical value of F ratio at 5% significant level.
Table 3 - Ratio of Receivable to Current Assets (%) of sample units.

Year 200506 200607 200708 200809 200910 Mean Ranbaxy 38.68 30.21 15.74 27.97 18.55 26.23 Dr. Reddy 24.23 26.20 26.81 36.68 29.08 28.6 Cipla 38.21 36.29 37.23 41.57 28.32 36.324 Sun 48.28 45.65 71.88 57.29 48.13 54.246 Wockhar dt 53.83 53.83 56.06 61.85 55.49 56.212 Mean 40.646 38.436 41.544 45.072 35.914 40.3224
Table 4 -One-way ANOVA results for the ratios of Receivable to

Current Assets (%) of sample units Source of Variation SS Df MS Between Groups Within Groups Total 3991. 718 1043. 227 5034. 945 4 20 24 997.92 95 52.161 37 F 19.131 58 P-Value 1.30196E06 F Crit 2.8660 81
SS = Sum of squares, df = degree of freedom, MS = Mean square, F cal = Calculated value of F ratio. P-value probability value of F ratio and F crit = Critical value of F ratio at 5% significant level.
As seen in the table 1, the 5 year industry average of receivable to total assets was 19.4028. As against this Sun, Ranbaxy and Wockhardt managed receivable more effectively than the other sample units, whereas Cipla held much higher percentage of receivable to total assets. Dr. Reddy maintained a reasonable percentage of receivable to total assets, closer to the industry aggregate. The ANOVA results for the ratio of receivable to total assets (Table 2) shows that F
Source: Computed from the data available in money control Cal. (15.01183) is greater than F Crit (2.86). It suggested that the ration significantly across the samples. Ratio of Receivable to Current Assets: Ratios of current assets suggests that the higher the ratio, higher the cost of carrying the receivable. Therefore it is desirable for the firm to maintain the minimum ratio. It is found out by using the following formula: Ending receivable/current assets100.
30
Receivable Management
Table 3 show that of all the companies Wockhardt had the highest average percentage of receivable to current assets, followed by Sun and Cipla. Ranbaxy and Dr. Reddy on the other hand were companies to have the least percentage of receivable to current assets, which is far from industry average. As Gitman (2001), an average manufacturing firm could afford percentage less than or equal to 37% as receivable to current asset. As compared to this standard ratio only Ranbaxy and Dr. Reddy was able to maintain standard ratio. The one way ANOVA (Table 4) shows the F Cal. (19.1315) is greater than F Crit. (2.86), which
leads to the conclusion that receivable to current asset ratio differs significantly among sample units. Receivable Turnover Ratio: This ratio shows the amount of receivable held by a company as a percentage of gross sales. The lower the ratio shows firm is efficient in doing the business on cash basis rather depending upon debtors. Or firm is very efficient in collecting dues from the debtor who converted in to cash. Formula for c a l c u l a t i n g r a t i o i s : E n d i n g Receivable/sales100. (Table 5)
sales across maintaining th indust
References
study of Gujara 111. ! Khandelwal Ashish publis capital (with publications privat capital m V
Table 5 - Receivable Turnover Ratio (%) of sample units.
Year 2005-06 2006-07 2007-08 2008-09 2009-10 Mean
Ranbaxy 24.03 20.32 21.90 31.99 22.73 24.194
Dr. Reddy 27.65 27.26 26.18 34.79 23.72 27.92
Cipla 28.22 28.13 32.46 34.69 27.44 30.188
Sun 18.95 18 43.48 24 29.25 26.736
Wockhar dt 18.76 21.96 27.71 30.37 24.75 24.71
Mean 23.522 23.134 30.346 31.168 25.578 26.7496
analysis, The Management Accountant, pp.748-750. Walker W. Ernest (1967),Towards a theory of working capital, The Engineering Economist, pp.21-35. Source: Computed from the data available in money control
Table 6 - One-way ANOVA results for the Receivable turnover ratio (%) of sample units
Source of Variation Between Groups Within Groups Total SS 119.41 84 707.79 01 827.20 85 Df 4 20 24 MS 29.854 59 35.389 51 F 0.84 36 P-Value 0.513961 643 F Crit 2.8660 81
SS = Sum of squares, df = degree of freedom, MS = Mean square, F cal = Calculated value of F ratio. P-value probability value of F ratio and F crit = Critical value of F ratio at 5% significant level.
The data in Table 5 reveal that amount of lower than F Crit. (2.86), which leads to the receivable as percentage of sales. The highest conclusion that receivable to sales has inverse ratio was find out in Cipla and followed by Dr. relationship. Reddy and Sunpharma and lowest were recorded in Ranbaxy and Wockhardt as Conclusion
compared to industry average. The one way The study reveals that the level of ANOVA (Table 6) shows the F Cal. (0.8436) is investment in receivable as a percentage of ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000ISSN : 0976-4712
Go Rural : A Destination For Successful Business Houses

Sumedha Kalia, Urvashi Kalra and Rajni Kamboj
Lecturers, MMIM, Maharishi Markandeshwar University, Mullana, Hariyana Rural India, 'the heart of India', generates more than half the national income. Rural markets are already proving vital for company`s growth as urban markets getting saturated for several categories of consumer goods. About 285 million live in urban India whereas 742 million reside in rural areas, constituting 72% of India's population resides in its 6,00,000 villages but the notion that rural customers are irrational, price conscious and that their impulses can be easily manipulated is absolutely wrong. Rural marketing is very complex and difficult path and most of the marketer failed, as they have rushed to create the impulse to purchase but failed to create knowledge about their brand and value propositions moreover they failed to understand the mindset of the rural people. The rural consumer is very conscious about getting 'value for money'-low price, high quality and multiple uses, must be the basic principles of rural product design. The challenge is to create communication that would help the rural consumers in recognizing brands, logos, visuals and colors and there should be effectively tapping of the rural markets; a brand must associate with their culture and personality. Many of the FMCG companies are busy in formulating their rural marketing strategy to tap the chance and take their strategies for rural markets very seriously and their experiences and strategies are discussed in the following paper.
Introduction
The essence of marketing is a transaction-an exchange intended to satisfy human need or wants. Economic development of a region is measured by the strength and efficiency of the linkages establishes in various sectors to operate the production and business cycle. The Indian rural market is much larger when compared to the urban market in terms of population and number of households. In the early 2000s, around 700 million people, i.e. 70% of the Indian population lived in 6, 27,000 villages, in rural areas. Of this, 90% were concentrated in villages with population less than 2000. In rural area the economy moves around agriculture as the main production sector and rural industries as the subsidiary production sector. Agriculture and allied activities is the mainstay in rural India in as much as they account for 75%of the rural income with 72% of the rural population directly engaged in this activity. The market for rural industries product is unorganized and dominated by the middlemen engaged in this activity. The great Indian rural dream is still proving to be a pie in the sky for most marketers. It all looks very tempting: 70% of one billon-strong India lives in the villages, with two out of three Indians beyond the reach of traditional media. However, the poor rural infrastructure and consumption habits that are very different from those of urban people were two major obstacles to cracking the rural market rural income levels were largely dependent on the vagaries of monsoon, and demand was not easy to predict. Thanks to TV, consumer awareness in rural areas had increased. Indian consumers are poor but not backward. The future lies with those companies who see the poor as their customers. Companies should focus on creative solution and product engineering to reduce their costs and offer tremendous life time value to the 'Bottom of the Pyramid' customers.
Media Habits
Marketing communication, in rural context include both personal and impersonal methods promotion like advertising, sales promotion, and other methods. Several constraints like illiteracy, poor communication facilities, infrastructural inadequacies,
Go Rural
language diversity, tradition-bound behavior of rural consumers, unwillingness of the sales people to serve in rural areas, lack of efficient retail network, etc. pose serious challenges to the marketers. Though all types of media is being used in rural areas, in view of low level of literacy, audio visual media-radio, TV and films assume major importance, however, with the increasing rate of literacy, newspaper media is also gaining considerable importance in rural context. In rural areas, shopkeeper's recommendation holds away in making purchases. This apart, rural specific media like puppet shows, demonstrations, haats, sampling, mobile advertisements play a vital role in spreading marketing messages. For instance: Spice Telecom used mobile van with banners in Punjabi language to advertise its various schemes in the villages of Punjab, Coco-Cola used flex using hand-pump with pitchers, John Deere used mini truck loaded by tractor as a sample on it, when new Wheel was launched in the rural market then they had TV showing ad with some refreshment to the rural women, Lifebuoy used bull cart to advertise their product, khaitan Fans used house cart, some companies uses road shows, especially for rural customers companies endorsed very popular celebrities like Amitabh Bachchan, Aamir khan who communicate in the local languages, basically in Rajasthan haats and puppet shows are very common to advertise various products. In all these examples, companies used local marketing strategies based on particular area, language, level of customer and approachability of media modes.
Rural Marketing Strategies
Rural marketing concept is a customer-centered 'sense and respond' philosophy. When we talk about Marketing strategies it firstly implies 7 P`s of Marketing i.e Product, price, promotion, place, people, process and physical evidence. In Rural marketing following points should be considered for making good brand image in the minds of rural customers: Innovative product designs and packaging, avoiding marketing myopia-which means customers will have the same need but will want the new product, application of value engineering-means cheaper cost of raw material, full care of product duplicates, and use of backward and forward integration. They must adopt strategies such as using value based pricing strategy, psychological pricing strategies, effective total quality management, having social outlet campaigns, creation of trust factors, capturing the local spirit in communication-using local language, try to have production in rural areas, use a combination of wholesaler and retailers to penetrate every nook and corner of rural market.
Create enabling Design mechanism, environment for process and structure to starting address a new venture. ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c4500010100000c484c696e6f021 000006d6e74725247422058595a2007ce00020009000600310000616373704d5346540000000049454320735247 420000000000000000000000000000f6d6000100000000d32d48502020000000000000000000000000000000000 000000000000000000000000000000000000000000000000000000000000011637072740000015000000033646 57363000001840000006c77747074000001f000000014626b707400000204000000147258595a00000218000000 146758595a0000022c000000146258595a0000024000000014646d6e640000025400000070646d6464000002c40 0000088767565640000034c0000008676696577000003d4000000246c756d69000003f8000000146d6561730000 040c0000002474656368000004300000000c725452430000043c0000080c675452430000043c0000080c6254524 30000043c0000080c7465787400000000436f70797269676874202863292031393938204865776c6574742d5061 636b61726420436f6d70616e790000646573630000000000000012735247422049454336313936362d322e31000 000000000000000000012735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000
the local needs.
World class management services for rural enterprises Provide effective and efficient research and analysis
Figure 1: Rural marketing strategy (source: 'Rural market'-fao-ilo.org /fileadmin /user_upload) While capturing rural market, a marketer must analyze the environment, check its core competency, need of people and provide hard market research. Before targeting rural people, a company must:- Communicate and change quality perception (coming up with new technology and they are properly communicating it to the customer) Proper communication in Indian language (communication in local language for promoting their products) Target changing perception(If one go to villages they will see that villagers using Toothpaste, even when they can use Neem or Babool sticks or Gudakhu, villagers are using soaps like Nima rose, Breeze, Cinthol etc. even when they can use locally manufactured very low priced soaps. Villagers are constantly looking forward for new branded products)
U n d e r s t a n d c u l t u r
a l a n d s o c i a l m o n e y t h r o u g h v a r i o u s p r o g r a m m e
r s ' . H e r o v a l u e s ( C u l t u r a l v a l u e s p l a y m a j o r r o l e i n H o n d
a i s f o c u s i n g a l o t o n r u r a l m a r k e t s . d e c i d i n g w h a t t o
b u y ) G o i n g f o r w a r d , a s u b s t a n t i a l i n d u s t r y g r o w t h Provide what customer wants (The is expected to come from these markets." customers want value for money. They do -Pawan Munjal, MD and CEO, Hero not see any value in frills associated with Honda Motors Limited, in May 2009 the products. They aim for the basic ("Hero Honda Looking to Gain Market Share," functionality) http://in.reuters.com, May 08, 2009) Promote the products with
Indian models In late 2007, Hero Honda started putting and actors (Companies are picking up emphasis on the rural markets. In December Indian models, actors for advertisements 2007, the company started a separate 'rural as this helps them to show themselves as an vertical'. To strengthen its network in rural Indian company.) areas, the company started sales, servicing, Associate themselves and spare part outlets in several small towns with India (MNCs are associating and villages across the country, it recruited themselves with India by talking about local people as sales executives and trained India, by explicitly saying that they are them to market its products to rural consumers. Indian. M-TV during Independence In the fiscal year 2008-09, the sales of Hero Day and Republic daytime make their Honda from the rural market amounted to 40 logo with Indian tri-color. Nokia has percent of the total sales compared to 35 designed a new cellular phone 5110, with percent during the fiscal year 2007-08. the India tri-colour and a responsibility means come up with business the farmers and the organization. The strategy models to cater market. HUL lifebuoy is use the Information Technology and bridges launched directly for rural people. Their the information and service gap in rural INDIA program Lifebuoy Swasthya Chetana' which gives an edge to market its products like campaign, increases the sale of the product in seeds, fertilizers and pesticides and other rural market. HUL launches a dish washing bar
products like consumer goods. With this Vim. In their campaigns they insist people to s t r a tegyitcan alsoenhan c e i t s use it practically. Actually their strategy is competitivenes s in global market for agribased on the concept Brand awareness. exports. In early 2002, CocaCola India (CCI) Nokia 1100 has so penetrated in to the rural launched a new advertisement campaign market. As its low-end cell phones are used as featuring leading bollywood actor -Aamir radios, alarm clocks and flash lights by rural Khan. The advertisement with the tag line -consumers. They have a strategy digital 'Thanda Matlab CocaCola' and 'Yaara da convergence at the bottom of the market. Tashan' was
targeted at rural and semiurban LG electronics launched a customized TV consumers. According to company sources, Sampoorna. This set appeal the customer's the idea was to position CocaCola as a generic needs, its facilities on screen display in brand for cold drinks. CCI's rural marketing vernacular language like in Hindi, Tamil, strategy was based on three A's Availability, Bengali. It is selling 1 lac sets in the very first Affordability and Acceptability. The first 'A' year. They opt the strategy, `thinking locally, Availability emphasized on the availability of succeeding globally'. the product to the customer; the second 'A' Nirma`s yellow detergent powder- massringing tone of "Sare Jahan se The achcha".) company said
that the motorcycle
be launched specifically for rural Affordability focused on product pricing, and market phenomenon. Nirma`s low price policy D e v e l o p r u r a l-s p e c i f i c p r o d u c t s between (developing rural-specific products like consumers and was likely to be priced
Rs. 12,500 and Rs. 15,000. Hero Honda Electrolux is working on a made-for India promoted its products aggressively during fridge designed to serve basic purposes: festive seasons in different regions
c h i l l d r i n k i n g w a t e r , k e e p c
o o k e d f o o d E v e r y b o d y w a n t s b r a n d s . A n d t h e r e a r e a
f r e s h , a n d t o w i t h s t a n d l o n g p o w e r c u t
s ) l o t m o r e p o o r p e o p l e i n t h e w o r l d t h a n r i c h U s e
I n d i a n w o r d s f o r b r a n d s ( C o m p a n i e s p e o p l e .
T o b e a g l o b a l b u s i n e s s a n d t o h a v e a u s e I n d i a n w o
r d s f o r b r a n d s l i k e L G g l o b a l m a r k e t s h a r e y o u
h a v e t o p a r t i c i p a t e i n the third 'A'Acceptability focused on has penetrated into the deepest rural markets in convincing the customer to buy the product. India. 'Value for money' Cocacola has evolved a hub and spoke Cavinkare launched Chik in 50paise distribution model for effectively reaching and Schets. Cavinkare targeted rural and small serving rural markets. It provides low cost ice town customers who used soaps to wash their boxes to small
"Sampoorna" for its newly launched TV) all segments. A c q u i r e I n d i a n b r a n d s ( A s I n d i a n
distributors in rural areas hair; it became the market leader in the rural because of the lack of the electricity. In this markets with over 50% market share. It creates marketing strategy a wakeup call for coke`s a 'sachet revolution'.
b r a n d s K e k i D a d i s e t h , e r s t w h i l e C h a i r m a n , H U L a r
e o p e r a t i n g i n I n d i a f o r a l o n g t i m e a n d ( R e k h
a B a l u , " S t r a t e g i c i n n o v a t i o n H L L , " t h e y e n j o y a g
o o d r e p u t a t i o n i n I n d i a ) w w w . f a s t c o m p a n y . c o m , J u n e
2 0 0 1 , I s s u e 4 7 , Effective media communication (They can p- 120)either go for the traditional media or the HUL derived around 50% of its sales from modern media. The traditional media rural areas. HUL's rural marketing initiatives i n c l u d e m e l a s , p u p p e t r y , f o l k t h e a t
r e e t c . b e g a n w a y b a c k i n 1 9 8 8 , w h e n t h e c o m p a n y w h i l e
t h e m o d e r n m e d i a i n c l u d e s T V , h a d l a u n c h e d ' W h e e l ' f o r t
h e r u r a l a n d l o w e r r a d i o , e c h a u p a l . ) i n c o m e u r b a n c o n s u m
e r . P r i o r t o t h e l a t e A d o p t l o c a l i z e d w a y o f d i s t r i b u
t i n g ( T h e y 1 9 9 0 s , H U L l i k e a n y o t h e r c o m p a n y h a d u s e d h
a v e t o r e a c h t h e " l o c a l P a a n w a l a , L o c a l t r a d i t i o n a l m o d
e s o f r e a c h i n g o u t t o t h e r u r a l B a n i y a " o n l y t h e y c a n s
u c c e e d ) c o n s u m e r w h o l e s a l e r s a n d r e t a i l e r s . H U L l a u n c h e d
a n i n n o v a t i v e p r o d u c t ' P u r e i t ' a
C o m p a n i e s F o o t s t e
p s O n R u r a l
w a t e r p u r i f i e r b r a n d . I t i s a v a i l a b l e a t
e c o n o m i c a l r i c e f o r t h e r u r a l c o n s u m e r a s t h e r e rural focus. Coke is available where, even Marico launched Parachute mini a bottle water is not available. shaped small pack being sold at MRP of Rs 1, The problem is that we approach rural 20ml parachute an Rs 5 that enables loose oil research with an urban mindset and go into the users ad to parachute. research process with preconceived notions. Idea`s aggressive promotion campaigns -Mr Jayant Jain, VicePresident and Head, 'what an ideas sirjee' ad creates a real feel came consumer insights and market research, through strong advertisement. They take Godfrey Philips India Ltd. social marketing as the base of their
(3. 'City slickers don't know how to cater to promotional tools. rural consumers'business line, The Hindu McDonald`s has been highlighting the Feb `10) happy price menu-Rs 20 to shackle entry In 2000, ITC took an initiative to develop barriers appeal to Indian customers. Their direct contact with farmers who lived in farmain strategy is to throw light on the delivery flung villages in Madhya Pradesh. ITC`s E-of good product at small price. Choupal was the result of this initiative. ITC P&G in 2004 started price cut strategy in followed a different media/commun ication their detergent brands. P&G`s increase in the
Path
s trategy which is more elaborate and extensive market share was more at the cost of
is no clean drinking water in villages. The "The majority of India lives in rural areas lowin rural marketing so far, which benefits both priced detergents. There was a 200% increase strategy is based on corporate social and the government are pumping in a lot of in Tide after the price cut. The opted the strategy of 'Economies of scale'. Britannia also tasted success because of small affordable packaging of 'Tiger' biscuits it is specially design to the rural market, its helping the poor become consumers. They focused on low price strategy is begun to appeal target segment. Telecom giant Sunil Mittal, chairman of the $2 billion mobile telephony major Bharti Tele- Ventures, is another unabashed flag-bearer of the 'go rural' strategy. He is confident that the next 'explosive' phase of demand for cellular connections is going to come from the villages
Conclusion
There is no denying the fact that Indian market is the fastest grouting market in the world and the fact is that about 60% of the market considered rural market is yet to turn into a rural market. Marketers must understand the dynamics of rural markets and exploit them to their best advantage. Marketers must often understand rural customer`s needs and aspirations even better than customers themselves do and creating product and services that meet existing and latent needs and desires of rural customers and provide s u i t a b l e p r o d u c t s . A n a p p r o p r i a t e segmentation of the highly heterogeneous rural market and identification of the needs and works of different segments will form the very basis for rural market strategies. For rural market, it will be ideal to think of strategies from the marketing mix point of view, main strategies are related to product, price, place and promotion. Therefore, it is important for a company to understand the social dynamics and attitude variations within each village. A company has to address several problems before it can sell its products successfully in the rural market. These include Physical distribution,Channel management and Promotion and marketing communication. A silent revolution is sweeping the Indian countryside. It has compelled marketing whizkids to go rural. The marketing battle fields have shifted from the cities to the
Go Rural
villages, but in this battle both consumers and companies are winners, it is a win-win situation. 'Go Rural' seems to the latest slogan. Stop depending on research number. Go and meet up with a million villagers and ask what they want. Create the product and services that is relevant to their needs. Thus, it is quite clear value for money offerings companies could convert luxuries in to necessities for the Indian rural consumers.
ISSN : 0976-4712 ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450 0010100000c484c696e6f021000006d6e74725247422058595a2007ce00020009000 600310000616373704d534654000000004945432073524742000000000000000000 0000000000f6d6000100000000d32d48502020000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000116 3707274000001500000003364657363000001840000006c77747074000001f000000 014626b707400000204000000147258595a00000218000000146758595a0000022c0 00000146258595a0000024000000014646d6e640000025400000070646d646400000 2c400000088767565640000034c0000008676696577000003d4000000246c756d690 00003f8000000146d6561730000040c0000002474656368000004300000000c72545 2430000043c0000080c675452430000043c0000080c625452430000043c0000080c7 465787400000000436f70797269676874202863292031393938204865776c6574742 d5061636b61726420436f6d70616e790000646573630000000000000012735247422
049454336313936362d322e31000000000000000000000012735247422049454336 313936362d322e31000000000000000000000000000000000000000000000000000 000
Knowledge Management : A Study of ICICI Bank

Dr. Kiran Mor
Assistant Professor, NIT, Kurukshetra, Haryana
Aditi A. Mahajan
Assistant Professor, Atharva Institute of Management Studies, Mumbai Knowledge Management has been in existence in our society ever since the discovery of language. Theoretically knowledge management is seen to have the potential to influence many spheres of an organization. It is available in a variety of forms and to a large extent the hidden tacit knowledge can be codified and made explicit. It is believed that by sharing of knowledge, the organization will benefit in the long run. However the success of knowledge management lies in the role played by the organization, the developers and the users themselves. This paper makes an exploratory study about Knowledge Management in practice at ICICI (India) and tries to identify the critical success factors of Knowledge Management. It is only recently that information technology has begun to make headways in the offices of commercial banks.
Introduction
Innovative knowledge is what firms require to dominate an industry by changing the basis for competition. Organizations need to innovate to create new processes and products in order to sustain competitive advantage for without innovation, a company's value proposition will eventually be imitated, eroding competitive advantage. In order to innovate and create new value, employees must be equipped with the right learning and given the right information about their organization. Therefore, it is critical for organizations to identify their knowledge assets and have the ability to leverage them. Competitive advantage emanates from the ownership of knowledge assets, the u n d e r p i n n i n g s o f o r g a n i z a t i o n a l competencies, which in turn pave the way for process improvement and product innovation. Increasingly, companies are transforming themselves into 'learning organizations' so that their knowledge assets can be continually developed and performance capacity can be enhanced. Knowledge Management efforts typically focus on organizational objectives such as i m p r o v e d p e r f o r m a n c e , c o m p e t i t i v e advantage, innovation, the sharing of lessons learned, and continuous improvement of the organization. KM efforts overlap with Organizational Learning, and may be distinguished from by a greater focus on the management of knowledge as a strategic asset and a focus on encouraging the exchange of knowledge. The objective of knowledge management is to capture tacit knowledge of different stakeholders of the organization as customers, shareholders, employees, suppliers etc. and make it explicit so that other employees can take advantage of it. Such sharing of information will enable improved and quicker decision making and benefit the organization. More specifically, a knowledge management environment means a focus on generating new knowledge, transferring existing knowledge, embedding knowledge in products, services and processes developing an environment for facilitating knowledge growth and accessing the valuable knowledge from inside and outside the firm.
Knowledge Management and World
The World Bank has developed new ideas and tangible results through its focus and allocation of resources. It is an excellent model of consistently effective principals APQC has found among leading learning organizations. For instance, that most people want to share what they know and avoid others' mistakes. But employees are impeded by a lack of time, a cumbersome process, and questionable sources. Some of these barriers are alleviated by technology, but applications are not the solution. Technology applications do not, in themselves, create a need or demand to change behavior or share knowledge. It is critical to select and implement technology as part of a larger, systematic knowledge management change initiative. Another key principal is that senior executive support alleviates the barriers to sharing knowledge by encouraging appropriate behavior and embracing new approaches. Employee support follows if knowledge management principles and tools are applied to important business issues. Fostering a knowledgesharing culture is the result of a successful knowledge management strategy. It is not a prerequisite. Most importantly, knowledge must be embedded in employees' work flow so that it can be captured, shared, and reused during daily responsibilities. By providing value to those who participate, employees experience greater professional development. Of course, rewards and recognition are important, but they will not take the place of knowledgesharing systems that work and provide value.
Knowledge Management in India
Knowledge awareness benefits entire organization. With today's emphases on sustainable competitive advantage, added value and improved productivity, a firm's management needs to create, innovate, monitor and protect its knowledge inventory. India has witnessed Knowledge Management (KM) in practice by some companies. Goodlass Nerolac, paint-maker, embraced Knowledge Management in March 2003 because a need was felt to capture knowledge from purchase patterns of customers and dealer insights. Along with money paid for the product, customers also provide a lot of information as their perception of the product and similar substitute products. The strategic challenge lies in designing an interface which will permit easy trapping of customer
Knowledge Management
information. Know Net the knowledge management portal of Larson & Toubro ( a construction company) was set up to solve problems occurring at project sites. It uses KM to roll out real world construction projects at lower costs. Each employe e in the organization has accumulated experience over the years and has unknowingly used it for problem solving or creating strategies. The strategic challenge lie in getting people to know 'what they know' and then share it with others, make it articulate and explicit.
Knowledge Management in ICICI Bank
The ICICI portal Wise Guy was started because a need was felt to create and generate the culture of knowledge sharing. The need was sparked off by mass exodus of employees from their 'Treasury' moving towards the then greener pastures of the 'Dotcom Era'. Whenever an employee moves, he does not leave behind him documented information about the job or client that he was associated with. This causes a lot of botheration for the new incumbent. He spends most of his time trying to build a foundation and begin his work in other words it is the reinvention of the wheel. Another reason for introduction of this concept could be due to the fact that the merger of ICICI with ICICI Bank was in the offing. The Wise Guy portal could act as a common thread binding two different cultures enabling a smooth transition into a universal bank. ICICI Bank has branches spread all over the country. There are employees who have interacted
only via emails and have never seen each other. They function as a virtual team. There was a need to bring about a common platform for uniting the people across the country and foster a sense of belonging. This need was not being fulfilled by the existing Intranet. When the site was introduced, awareness was generated by sending mails to all employees and by putting banners on the Intranet site, i.e. the 'universe'. In order to sustain interest in the site, efforts are being made to acknowledge the contributions made
by the users. Every month the top three contributors are selected on the basis of the contributions made in the last three consecutive months. For e.g. the contributions made in January, February and March are judged for awards in April, while the contributions made in February, March and April are judged for awards in May. Awards are on the basis of the number of contributions made, number of people who read that article/write-up and number of responses given to different queries. Cash prizes (K-cash points) are given and photographs of the winners get a place for a week on the site. Emails about the portal (both congratulatory and critical) are uploaded so that it generates discussion about the pros and cons of the system. A personal corner exists on the Wiseguy, whereby one can save searches or track ones level of involvement on the Wiseguy or count K-cash points or update personal profile. The expertise that is mentioned in the profile helps in tracking people expertise wise. The people tracker can also track people on the basis of names, or departments or areas. Each section in the Wise guy can be accessed only if one has a login-id (which is usually the employee code) and a password. Confidential sections, which are not for public view, are restricted by the administrator. This helps in building privacy, which is essential for sections containing client information. This is similar to Lowe's (advertising agency) Mindstore (which permits general access) and Mind circle (which permits restricted access) in the KM portal called Owle's World.
Conclusion
Indian banking is at the threshold of a paradigm shift. The applications of technology and product innovations are bringing about structural changes in the Indian Banking system. Off-site ATMs, on-line debit cards and e l e c t r o n i c e v e r y w h e r e b a n k i n g a r e transforming the traditional concept of branch banking. While banks are striving to strengthen customer relationship and move towards 'relationship banking', customers are increasingly moving away from the confines of traditional branch banking and seeking the convenience of remote electronic banking. Old indicators of bank performance such as growth in deposit mobilization and business are increasingly becoming outdated and newer parameters such as the level of net interest margins, non-performing assets, provisions m a d e a n d p r o f i t a b i l i t y a r e g a i n i n g prominence. These changes have necessitated a relook into the corporate policy of banks, particularly in regard to manpower policy and rationalization of business operations. On the other hand financial institutions are evolving roadmaps for transforming themselves into Universal Banking' entities. I n f o r m a t i o n t e c h n o l o g y a n d t h e communications networking systems have revolutionalised the working of banks and financial entities all over the world. It is only recently that information technology has begun to make headway in the offices of commercial banks. With a significant workforce, the public sector banks have not been able to harness the beneficial effects of computerization. Information technology is viewed more as reconciliation equipment for the back office and a ledger mechanism for the front office. This, in effect, constrains PSBs from providing a 'single window concept' service to their customers in a world where banking is increasingly becoming a consumer-centric service provider. This lack of leveraging of their investment in effect has inhibited their decision support system, which is a growing threat they encounter from their private sector and foreign counterparts. There have been many roadblocks to adoption of formal knowledge management activities. In general, managing knowledge has been perceived as an unmanageable kind of problem an implicitly human, individual activity that was intractable with traditional
management methods and technology. We tend to treat the activities of knowledge work as necessary, but ill-defined, costs of human resources, and we treat the explicit manifestations of knowledge work as forms of publishing as byproducts of "real" work
References
Boisot Max H., (1995), Is your firm a creative destroyer? Competitive Learning and Knowledge Flows in the Technological Strategies of Firms. Research Policy, Vol 24, pp 489506. Collis David J. and Cynthis A. Montgomery, (1995), Competing on Resources: Strategy in the 1990s; Harvard Business Review, July-August, pp118-128 Goswami Chandana, (2004), Managing the Technical, Professional Workforce: Can Knowledge Management be the answer? In: Managing Trade, Technology and Environment (M. Mallikarjun and Pawan K. Chugan Ed.) , Excel Books, India, pp 362-372 Grant Robert M., (1991), The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation; California Management Review, Vol.33, Spring , pp114-135 Grant Robert M., (1996), Prospering in Dynamically-Competitive Environments: Organizational Capability as Knowledge Integration; Organization Science, Vol.7, No.4, pp375-387 Kochikar V.P.(2001) Creating the KM Infrastructure at Infosys: The Technology Challenge; Liebeskind Julia Porter, (1996) Knowledge, Strategy, and the theory of the firm; Strategic Management Journal, Vol.17, Winter Special Issue, pp93-107 Management Review, Vol 13, No.4, pp 104-110 Prahlad C.K. and Gary Hamel, (1990), The core competence of the Corporation; Harvard Business Review, May-June, pp79-91
ISSN : 0976-4712
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The Relationship between Employee
Satisfaction and Hospital Patient Experiences

Tulsee Giri Goswami and Dr. Pankaj Garg
Jayoti Vidyapeeth Women's University, Jaipur
Dr. S. S. Ranawat
SMS Hospital, Jaipur This study carried out to analyze the level of satisfaction among Hospital Staff Members towards the Working Environment/ Work Culture & Climate, and to find out the Relationship between Employee Satisfaction and Hospital Patient Experiences. In present research study structured questionnaires was used by researcher for collecting primary data from Employees (N=200) and Patients (N=1000) of the SMS Hospital Jaipur. It was found that the level of satisfaction among almost employees higher in SMS Hospital, as it's a government organization and all the HR policies according to Government of Rajasthan Regulations, so rarely employees face any biasness or dissatisfaction at work place. It has also been found that every patient who is visiting SMS Hospital get proper care and treatment at very reasonable cost. And patients are visiting from all over Rajasthan state and even from nearby surrounding states as well, because of the strong market reputation, quality health care and services. Keywords : Employee Satisfaction, Patient Satisfaction leadership, (2) frequent communication, and Health is fundamental human right and (3) employees are empowered to satisfy worldwide social goal. So it is very essential patients for all the health care organization to satisfy the need and expectation of the patient and it Research Problem and Objectives can be achieved only by providing the quality In present research the problem is to find out health care services to the patients. Employee The Relationship between Employee satisfaction and retention have always been S a t i s f a c t i o n a n d H o s p i t a l P a t i e n t important issues for all the industries. After all, Experiences with special reference to SMS high levels of dissatisfaction, absenteeism and Hospital, Jaipur. The present study will be staff turnover can affect bottom line, as temps, carried out by keeping in view the following recruitment and retraining take their toll. But objectives. few practices (in fact, few organizations) have To analyze the level of satisfaction among made job satisfaction a top priority, perhaps employees of SMS Hospital because they have failed to understand the To analyze the relationship between significant opportunity that lies in front of Employee Satisfaction and Hospital them. Satisfied employees tend to be more Patient Experiences productive, creative and committed to their To analyze the factors associated with duty and employers, and recent studies have employee satisfaction and patient shown a direct correlation between staff experience, and preference of employees satisfaction and quality productivity. Health for achieving higher level of motivation care organizations that routinely achieve high employee satisfaction scores tend to have the
Introduction
Scanning the Existing

This part of the study includes a review
Literature
following in common (1) accessible
of some existing research studies on employee satisfaction, and patient satisfaction with reference to the health care industry. This review provides initial approaching into the possible relationship between these constructs at a health care organization. Over the periods much research has looked at the areas of customer/client/patient satisfaction and employee satisfaction. Current research has put even more of an emphasis on how organizational human resource management practices can increase employee satisfaction and employee retention. Fewer studies look at the direct impact employee
satisfaction has on customer (patient) satisfaction. However, these studies demonstrate the need for health care administrators to take a closer look at human resource management practices of their organization and efforts to improve the quality of service by increasing employee satisfaction, and loyalty. There are relatively some academic and research studies in the health care industry discuss about the relationship between employee satisfaction and patient satisfaction, and also proving that relationship exists. Many health care administrators and Managers are increasingly showing concern for delivering high quality health care services in which both the customer (patients) and providers (employees) are satisfied even as maintaining a strong and congenial working environment. This embodies a move in the philosophy of the management from the cost cutting and the bottom line dominated apprehension in the health care sector even. According to this review of academic literature, researcher try to concentrate on the collision of human resource management practices such as employee sharing, participation and empowerment on employee satisfaction and retention, and ultimately how these might impact patient satisfaction. Newman et al. (2001) outlined how these interrelated issues affect one another based on a review of literature on nurse recruitment and retention, service quality, and human resource management. Newman has a chain of connectivity such that (a) internal conditions and environment
Employee Satisfaction and Hospital Patient Experiences
affect (b) the service capability of staff which influences (c) nurse satisfaction which, in turn, affects (d) retention of nurses. All of those factors can reduce (e) quality of patient care and ultimately (f) the level of patient satisfaction. In other words, health care organizations that provide a good working environment which enhances the service capability of staff through empowered decision making will lead to more satisfied nurses who are more likely to remain loyal to the organization and provide a higher level of care resulting in higher patient satisfaction. Organizations that desire to improve patient satisfaction must therefore be concerned about internal issues related to employee satisfaction and view their employees as customers too. A connection appears to exist between how engaged an employee is with the employee's role in the patient care process and the level of patient satisfaction. This interrelationship affects not only satisfaction levels but also patient loyalty and financial performance.
The present study is based on Descriptive and Explanatory research design. The analysis of study is based on primary and secondary data. Primary data provide a firsthand account of the situation. Primary data is the only way of finding out opinions, personal qualities, and attitudes. In present research study structured questionnaires was used by researcher for collecting primary data from Employees (N=200) and Patients (N=1000) of the SMS Hospital Jaipur. While source for secondary data were collected from published and unpublished literature. In present research study the samples are non probability sample based on convenience sampling technique element for the sample are selected for the convenience of researcher. The researcher naturally has chosen elements that are readily available, nearby, easy to reach, willing to participate.
Hypothesis of the Study

The following hypotheses have been considered for the study.
Employee Satisfaction and Hospital Patient Experiences
H1 The level of satisfaction is higher amongst employees of SMS Hospital, Jaipur. H2 There is a direct and positive relationship between Employee Satisfaction and
Hospital Patient Experiences H3 The factors related to job and working environments are associated with the level of employee satisfaction & Patient Experience
Findings and Result Discussion

For measuring the satisfaction level among sample population researcher used a questionnaire based on some assumptions that job satisfaction being an emotional response to job, which cannot be seen. As such it can only be inferred. And job satisfaction is often determined by how satisfactorily outcomes meet or exceed one's expectations. Also job satisfaction represents an employee's attitude towards five specific dimensions of the job: pay, the work itself, promotion opportunities, supervision, and co-workers. Job roles and responsibilities: While measuring the level of satisfaction on the basis o f a t t i t u d e t o w a r d s jo b r o l e s a n d responsibilities, 75% the majority of the sample population responded that they are highly satisfied with the job roles and responsibilities they are handling at work place, 22.5 % of the sample population responded that they are satisfied, but at the same time 12.5% of the sample population responded that even they are not even satisfied with their job roles and responsibilities at work place. Employment conditions : While measuring the level of satisfaction on the basis of attitude towards employment conditions, 75% the majority of the sample population responded that they are highly satisfied with the job roles and responsibilities they are handling at work place, 15 % of the sample population responded that they are satisfied, but 10% of the sample population responded as they are neutral regarding employment conditions work place. Compensation structure : While measuring the level of satisfaction on the basis of compensation structure, 87.5% the majority of the sample population responded that they are highly satisfied with the job roles and responsibilities they are handling at work place, 10 % of the sample population responded that they are satisfied, but only 2.5% of the sample population responded as they are neutral regarding compensation structure. Training and developmental: While analyzing the attitude towards training/ refresher courses/developmental programs organized for hospital employees as per required and prescribed 90% the majority of the sample population responded that they are strongly agree, 5% of the sample population responded that they are agree, and also 5% of the sample population responded as they are sometime agree that SMS Hospital organizes training/ refresher courses/developmental programs organized for hospital employees as per required and prescribed. Conflict management system : While analyzing the attitude towards grievance handling procedure and conflict management system 50% of the sample population responded that they are highly satisfied, 25% of the sample population responded that they are satisfied, and also 25% of the sample population responded as they are not satisfied with the existing grievance handling procedure and conflict management system. Appreciation and recognition : While analyzing the attitude towards appreciation and recognition of their performance 50% of the sample population responded that they are strongly agree, 25% of the sample population responded like neutral and also 25% of the sample population responded as they are sometime agree that all employees get appreciation and recognition as per deserve at work place in SMS Hospital Explanation and prescription of treatment : While analyzing the attitude of patient in relation to explanation and prescription of treatment with the expectations of health care services 80% of the sample population responded that they are strongly agree, 10% of the sample population agree and only 5% of the sample population
responded responded that they are strongly agree, 10% of conducted at many times. Inspite of that Recommendations as neutral and also 5% of the sample
the sample population responded as neutral researcher have chosen the same topic with the 1. The Management of SMS Hospital, Jaipur population
responded as they are disagree in only 5% of the sample population responded relation to explanation and prescription of that they are disagree that the doctor really treatment with the expectations of health care know what patient expect from him/her services Self understanding of illness : While C o n s u l t a t i o n a n d e x a m i n a t i o n : W h i l e a n a l y z i n g t h
e a t t i t u d e o f p a t i e n t s a s t h e y a n a l y z i n g t h e a t t i t u d e o f
p a t i e n t i n r e l a t i o n t o u n d e r s t a n d i l l n e s s m u c h b e t t e r a
f t e r s e e i n g t h e c o n s u l t a t i o n s o m e t h i n g s a b
o u t m y d o c t o r 8 0 % o f t h e s a m p l e p o p u l a t i o n c o n s u l t a
t i o n w i t h t h e d o c t o r c o u l d h a v e b e e n r e s p o n d e d t h a t t h e y
a r e s t r o n g l y a g r e e , 1 0 % o f b e t t e r 8 0 % o f t h e s a m p l e p o
p u l a t i o n t h e s a m p l e p o p u l a t i o n a g r e e a n d 5 % o f t h e r e s p o
n d e d t h a t t h e y a r e s t r o n g l y a g r e e , 1 0 % o f s a m p l e p o p u l a t
i o n r e s p o n d e d a s n e u t r a l a n d t h e s a m p l e p o p u l a t i o n a g r e e
a n d o n l y 5 % o f a l s o 5 % o f t h e s a m p l e p o p u l a t i o n r e s p o n
d e d a s t h e s a m p l e p o p u l a t i o n r e s p o n d e d a s n e u t r a l t h e y a
r e d i s a g r e e t h a t t h e y u n d e r s t a n d i l l n e s s a n d a l s o 5 % o f
t h e s a m p l e p o p u l a t i o n m u c h b e t t e r a f t e r s e e i n g t h e d o c t
o r . W h i l e r e s p o n d e d a s t h e y a r e s t r o n g l y d i s a g r e e i n a n a
l y z i n g t h e a t t i t u d e o f p a t i e n t s a s t h e y r e l a t i o n t o e x p l
a n a t i o n a n d p r e s c r i p t i o n o f u n d e r s t a n d i l l n e s s m u c h b e t t
e r a f t e r s e e i n g t h e t r e a t m e n t w i t h t h e e x p e c t a t i o n s o f h
e a l t h c a r e d o c t o r 8 0 % o f t h e s a m p l e p o p u l a t i o n s e r v i c e s .
W h i l e a n a l y z i n g t h e a t t i t u d e o f r e s p o n d e d t h a t t h e y a r e
s t r o n g l y a g r e e , 1 0 % o f h y p o t h e s e s a n d a c c o r d i n g
t o H T h e l e v e l o f s h o u l d l i s t e n t h e v i e w p o i n t o f e
m p l o y e e s s a t i s f a c t i o n i s h i g h e r a m o n g s t e m p l o y e e s o f i n
d e c i s i o n m a k i n g a n d s h o u l d a l s o i n v i t e S M S H o s p i t a l , J a i
p u r . I t w a s f o u n d t h a t t h e t h e i r p a r t i c i p a t i o n f o r t h e
s a m e l e v e l o f s a t i s f a c t i o n a m o n g a l m o s t e m p l o y e e s 2 . T h e
M a n a g e m e n t o f S M S H o s p i t a l , J a i p u r h i g h e r i n S M S H o s p i t
a l , a s i t ' s a g o v e r n m e n t s h o u l d p u n i s h s l a c k e r s , s o t h a t
e q u a l i t y c a n o r g a n i z a t i o n a n d a l l t h e H R p o l i c i e s a c c o r
d i n g b e m a i n t a i n e d w i t h o u t a n y b i a s n e s s f o r t o G o v e r n m e n
t o f R a j a s t h a n R e g u l a t i o n s , s o p r o v i d i n g q u a l i t y h e a l t h
s e r v i c e r a r e l y e m p l o y e e s f a c e a n y b i a s n e s s o r 3 . T h e M a n
a g e m e n t o f S M S H o s p i t a l , J a i p u r d i s s a t i s f a c t i o n a t w o r k
p l a c e . A n d a s H
2
s a y s s h o u l d a l s o p r o v i d e w o r k c u l t u r e
f o r T h e r e i s a d i r e c t a n d p o s i t i v e r e l a t i o n s h i p i m p r o v i n
g t e a m s p i r i t b e t w e e n E m p l o y e e S a t i s f a c t i o n a n d H o s p i t a l
4 . T h e M a n a g e m e n t o f S M S H o s p i t a l , J a i p u r P a t i e n t E x p e r
i e n c e s i t h a s a l s o b e e n f o u n d t h a t s h o u l d a l w a y s r e w a r d
a n d r e c o g n i z e e v e r y p a t i e n t w h o i s v i s i t i n g S M S H o s p i t a
l g e t e x t r e m e a n d s t a r p e r f o r m e r s p r o p e r c a r e a n d t r e a t m
e n t a t v e r y r e a s o n a b l e 5 . T h e M a n a g e m e n t o f S M S H o s p i t a l
, J a i p u r c o s t . A n d p a t i e n t s a r e v i s i t i n g f r o m a l l o v e r
s h o u l d a l w a y s s h o w k e e n i n t e r e s t i n R a j a s t h a n s t a t e a n d
e v e n f r o m n e a r b y s o l v i n g a n y d y s f u n c t i o n a l w o r k g r o u p
1
surrounding states as well, because of the conflicts and also insist functional conflict patient in relation to thorough examination the sample population agree and 5% of the strong market reputation, quality health care among employees so that the overall 75% of the sample population responded that sample population responded as neutral and and services. H Says The factors related to job performance can be improved with team they are strongly agree, 20% of the sample also 5% of the sample population responded as population agree and only 5% of the sample they are disagree that they understand illness population responded as neutral in relation to much better after seeing the doctor thorough examination by doctor in SMS Nursing and supportive staff : While hospital. While analyzing the attitude of analyzing the attitude of patient in relation patient in relation to spend a little more time what they feel that the nursing staff really with the doctor, only 5% of the sample know what patient expect from him/her 85% population responded that they are agree, 10% of the sample population responded that they of the sample population responded as neutral are strongly agree, 10% of the sample 85% of the sample population responded that population responded as neutral only 5% of the they are agree that the doctor really know what sample population responded that they are patient expect from him/her spend a little more disagree that the nursing staff really know and working environments are associated with spirit the level of employee satisfaction & Patient 6. T h e M a n a g e m e n t s h o u l d a l w a y s Experience. It was found at workplace in SMS appreciate employees for their individual Hospital, that all employees are getting strengths and support to overcome from satisfactory benefits and employment factors weaknesses at work place that's why they are giving satisfactory and 7. The Management should try to maintain qualitative services to hospital patients. the Good Will of SMS Hospital, Jaipur for
3
providing qualitativ
the level of health i
References
time with the doctor only what patient expect from him/her .While analyzing Hospital And Health Services Administration ISBN-13: 9780195650921, Human Values: While the analyzing the attitude of patient in relation Amin,T,S.
University Press supportive staff of SMS shows interest in patient as a person, not just Hospital is Ashwathapa K. Human Resource Management & cooperative 85% of the sample Personnel Management ISBN:
Oxford attitude of patient in relation to what doctor what they feel that the
th
the illness 60% of the sample population population responded that they are strongly 0070660204, 5 edition, Tata Mcgraw Hill responded that they are strongly agree, 10% of agree, 10% of the sample population Cooper, D.R., and Schindler, P.S.(2006), Business Research Methods Tata McGraw-Hill 8 the sample population agree and the same 10% responded as neutral only 5% of the sample Edition, New Delhi of the sample population responded as neutral population responded that they are disagree Robbins, Judge and Sanghi(2009),Organization Behavior 13 edition, Prentice Hall, and also 20% of the sample population that the supportive staff of SMS Hospital is responded as they are strongly disagree in cooperative relation to what doctor shows interest in patient as a person, not just the illness Conclusion &
th
th
Recommendations
P a t i e n t e x p e c t a t i o n : W h i l
e a n a l y z i n g t h e T h e t o p i c r e l a t i o n s h i p b e t w e e n e
m p l o y e e a t t i t u d e o f p a t i e n t i n r e l a t i o n w h a t t h e y f e e l
t h a t s a t i s f a c t i o n a n d p a t i e n t s a t i s f a c t i o n i s
v e r y t h e d o c t o r r e a l l y k n o w w h a t p a t i e n t e x p e c t i n t e r
e s t i n g t o p i c f o r r e s e a r c h , t h o u g h f r o m h i m / h e r 8 5
% o f t h e s a m p l e p o p u l a t i o n n u m e r o u s r e s e a r c h s t u d i e s h a v
e b e e n ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000ISSN : 0976-4712
Fiscal Crisis in Punjab: The Sustainability Issue

Dr. Anupama Uppal
Associate Professor, Punjabi University Regional Centre, Bathinda, Punjab
Jaspal Singh
Research Scholar, Chaudhary Devi Lal University, Sirsa, Haryana Public finance is used as an important tool in achieving the goals of economic development as well as economic welfare. In a federal set up in India, the responsibilities of the states are immense, particularly in relations of their available resources, especially when most of the states are predominantly agriculture. Same is true for Punjab as well. Even though this state is ranked among the states with the highest per capita income levels, yet due to agriculture based economy, the tax base is very narrow in the state. Apart from it the decade of terrorism in the state has already derailed its economy. Due to these reasons the state has accumulated huge amounts of debt during last several years. In this backdrop present paper is an attempt to analyse the sustainability of finances of the government of Punjab in different time periods by using the Hakkio and Rush co-integration techniques. simple principle of 'spend as much as you earn' In Economic theory public finance is can not be applied as under such conditions, invariably being considered a very important the need of more and more public expenditure tool in achieving the targets of growth and assumes greater importance as more is
Introduction
needed equity. In a federal set up, the right as well as to spend on growth of infrastructure, the responsibilities in this regard are not education, health etc. Under such conditions, concentrated to the centres only. The state one can observe that India's state finances have governments play an important role in been undergoing perilous health since 1980s. accelerating and sustaining the growth. In a Almost all states of India witnessed a squeeze three-tier set up of a federal system (as in in their revenue surplus in the first half of the I n d i a), t h e s t a t e s h a v e i m p o r t a n t 80s which turned to a negative one after that responsibilities in many areas (the state list) (RBI, 2007). The progressive deterioration in such as agricultural development, irrigation, the state finances since the nineties drew the poverty alleviation, public health etc. Apart attention of policy makers to the need of fiscal from it the responsibilities like education, reforms at the state level. economic and social planning etc. are also The situation in Punjab is no different, shared by the states (i.e. the items in the though the causes of the fiscal crisis in the state concurrent list). Thus, the states in India have may be somewhat different as compared to
huge responsibilities and so their expenditure other states in India. Punjab economy has accounts for a substantial portion of the total experienced a very high growth rate of income government sector (centre plus states) after inception of Green Revolution in the state expenditure (RBI, 2006). But on receipts side but since the 1980s, the growth rate of income the share of states in India is not as high as their has slowed down. Though, the share of share in total government sector expenditure agriculture has been declining showing the (World Bank, 2005). Actually, most of the signals of growth but its share in the gross state states in India are predominantly agricultural domestic product (GSDP) is still very high (as in character and so also have a huge size of per Punjab Government estimates on Review informal sector which leads to a very narrow of Punjab Economy, the share of agriculture in tax base. Given these characteristics, the GSDP at constant prices was 37.07 per cent in
Fiscal Crisis in Punjab
2004-05). The cultivable area has been developed optimally, leaving hardly any scope for increasing net area sown, which led to a near stagnant situation in growth of the economy. Besides, the prolonged period of militancy in the state has played havoc with the state's economy as the state finances got diverted from developmental to nondevelopmental. The capital expenditure declined which led to deterioration of productive assets in the state. All this led to fewer resources of revenue and mounting expenditure in the ensuing years. As a result governments chose the safe mode (of course politically safe!) of raising finances through public borrowings. This has led to mounting public debt which was earlier financed by central loans but later was substituted by market loans, small savings and other loans from banks, financial institutions etc. As per RBI (2006) estimates, during the period 19861998, about 76 per cent of gross fiscal deficit of the state was financed by the central loans but as during 2002-05, Punjab like other states made substantial repayment of central loans under Debt Swap Scheme, the share of central loans in gross fiscal deficit during 1998-2004 declined sharply to only 1 per cent and that of market borrowings, National Small Saving Fund (NSSF) and other loans from
banks or financial institutions increased to 99 per cent. Out of these the share of NSSF has been the highest which stands at 54 per cent of gross fiscal deficit of the state during 1998-2004. Thus, the government of Punjab has to largely depend upon its own capability in raising resources to finance its fiscal deficit. This will largely depend upon its own financial health. Hence it becomes imperative for it to have viable fiscal figures (RBI, 2006; RBI, 2007). Theoretically, if the lost tax revenue is financed by debt and it increases the rate of economic growth then both the government and lenders will both hope that the debt will be paid back without any future cutbacks in services. Otherwise, the lenders would seek a quick repayment of their debt bringing on a financial crisis with all of the associated economic costs (Gordon, 2008). The basic idea is that in the debt-financed public spending, the economic growth should be strong enough to generate additional tax revenue sufficient to repay the debt. This points towards the fiscal sustainability of the governments. The term fiscal sustainability relates to the concept of solvency, of a government's ability to service its debt without explicitly defaulting on them or it relates to governments' ability to indefinitely maintain the same set of policies while remaining solvent (Burnside, 2005). In this context, present paper will focus on the sustainability of the finances of Punjab government. Apart from this introductory section, this study is divided into five more sections. Section II would discuss the data and methodology used in this paper; Section III would discuss the growth of public revenue and expenditure in Punjab since 1967; Section IV would analyse the deficit indicators, Section V would discuss the sustainability issue of finances of Punjab government and finally, Section VI would give the conclusions and policy implications.
Data and Methodology
This study is based upon secondary data. The sources of data are Budget Documents of government of Punjab, Statistical Abstracts and Reserve Bank of India's Annual statements on state finances. The public expenditure and revenue has been analysed both on revenue account and capital account. For analysis of revenue and expenditure, trend growth rates and percentages have been calculated. Fiscal health of the state has been calculated through four deficit indicators. These are revenue deficit (RD), primary deficit (PD), primary revenue balance (PRB) and gross fiscal gap (GFG), which are calculated as follows: RD = Revenue Expenditure Revenue Receipts GFG = RD + Capital Expenditure PD = GFG Interest Payments PRB = RD Interest Payments Finally, the sustainability of finances of
government of Punjab has been analysed using St c . Bt1

t
the simple Hakkio and Rush (1991) cointegration test without structural breaks as Where, must be greater than 1 for the data on finances of Punjab government has government finances to be stable. Here, natural breaks of three phases in which phase I surplus is defined as difference of tax revenue is the immediate post re-organisation phase and expenditure on revenue account which extends from 1966-67 to 1980-81, (excluding interest payments on debt) while phase II is the decade of militancy in the state debt refers to total borrowings of government and lengthens from 1981-82 to 1990-91, phase in the preceding time period. In this paper, we III when the state started reaching normalcy, have tried to test the sustainability of finances also coincides with the phase of liberalisation of Punjab government, using both of these in Indian economy and starts from 1991-92. In methods. the present study we have extended it up to 2005-06. Hakkio and Rush (1991) have used Growth of Public Revenue and the following
regression equation to check the government finances: Rt a b GG t .
Expenditure in Punjab
sustainability of
The fiscal position of any government is generally judged by the growth of its revenue t
Here, R is the government revenue and GG

t
and expenditure vis--vis the growth of
is income in the state, which in case of Punjab government expenditure inclusive of interest (the growth rate of GSDP in Punjab) took off on debt. According to Hakkio and Rush during the decade of seventies, increased in the (1991), for government finances to be eighties as well and then started declining in
sustainable, must be > 1 and when b< 1, there are chances of default on part of the
the post 90s era. Actually, the growth of
the economy should not be associated with the government as debt would increase more than revenue and expenditure of the same time the increase in revenue, especially when period as the impact of public expenditure and revenue and expenditure are expressed as revenue are not that immediate as input/ output relative to real domestic product or population. relationships in the any production activity. Alternatively, Haug (1991) methodology can These impacts are spread over a period of also be used to test the sustainability of time. So, here as attempt has been made to government finances, who regresses surplus observe the growth trends in different phases of the (S) on debt (B): Punjab economy. Table: 1 Compound Annual Growth Rates of Public Revenue and Expenditure in Punjab
Period Revenue Receipts Phase I (1966-67 to 1980-81) Phase II (1981-82 to 1990-91) Phase III (1991-92 to 2005-06) 12.75*** (0.003) 12.41*** (0.008) 17.12*** (0.005) 12.98*** (0.006) 36.36# 34.58*** (0.09) 5.32 (0.032) 15.14*** (0.006) Revenue Expenditure 13.09*** (0.005) 7.36# Capital Receipts Capital Expenditure 18.53*** (0.037)
11.63#
***significant at 99 per cent level of phase of militancy in the state) and then came significance. down to 12.98 per cent per annum in phase III. # growth rates are calculated
by using the Like the growth of revenue expenditure, that

n
formula A=P(1+r) as trend values could not be of the capital expenditure and capital receipts, determined due to negative figures for many too showed the inverted-U trends. Actually, years. from development view point the composition Figures in bracket show the standard error. of revenue and expenditure is more important than their respective sizes and growth. If the It can be observed from table 1 that the growth inducing components of expenditure growth of revenue receipts, which consist of are increasing at a fast rate, then even gigantic state's own tax and non-tax revenue, central size of expenditure would be tolerable, on the transfers etc, had been decelerating. Its growth other hand an impressively increasing revenue rate was 15.14 per cent per annum during the in certain time period may prove fatal in future first phase, declined to 12.75 per cent per to the economy's health if it is based on heavy annum in the second phase and then further to taxation of important economic activities. In 12.41 per cent per annum by the phase three. this backdrop, we would try to observe the On the other hand, the revenue expenditure, movement of shares of important components increased sharply from 13.09 per cent per in public revenue and expenditure in Punjab. A annum in phase I to 17.12 per cent per annum few components, depicting the sustainability in the phase II (which is also termed as the of finances in Punjab are shown below: Table: 2 Few Components of Revenue and Expenditure in Punjab
-Share of Own Revenue in Total Revenue Receipts 77.94 78.44 84.99 Share of Development Expenditure in Total Revenue Expenditure 61.32 67.85 43.75 Share of Interest Payments in Total Revenue Expenditure 12.40 12.44 22.87 Share of Loans Outstanding in Net Capital Receipts 105.51 98.13 100.53
Period
Phase I Phase II Phase III
Source: Calculated from Punjab Government Budget Documents, various years. The table shows that the revenue receipts services, interest payments pensions, grants-in Punjab, seem to be growing in healthy in-aids etc. This can also be seen from the direction as the state's own revenue (tax and increasing share of interest payments in total non-tax) has been growing but it also means revenue receipts in phase III. Lastly, the share declining share in central taxes and central of outstanding loans has been shown as share grants which means that the state has to purely of net capital receipts in each phase. The net mobilise its own resources. On the other hand, capital receipts include net loans and advances the hopes can not be very high as the state has from market and banks, permanent debt, been spending fewer amounts on development interstate settlements, net receipts from small purposes, which includes expenditure on Savings and provident funds, loans from economic and social services. Interestingly, centre, reserve funds, floating and unfunded this share was higher in the period of militancy debt etc. The reason of the loans outstanding as compared to the years of normalcy showing being higher than the net capital receipts was that more of the amount is being spent in phase that, initially, the government of Punjab has III on general services which include negative receipts on account of interstate expenditure on administrative services, fiscal settlements and reserve funds, which resulted
in to more than 100 per cent share of loans The fiscal health of any economy can be outstanding in phase I, during phase II, the depicted on basis of its deficit indicators. The interstate settlements became positive, table below (table 3) shows that the finances of resulting in to lower share of outstanding loans Punjab have moved from a surplus in
revenue in net capital receipts. However, during phase account in phase I to emergence of fiscal III, the lower value of net capital receipts is imbalance in phase II, which is mainly due to due to paying back of central loans, in which sluggish growth of revenue receipts vis--vis hefty amounts are paid back during 2004-05. revenue expenditure (see table 1). Finally, the Actually, during this phase, a greater share of phase III is marked by deepening fiscal crisis outstanding loans consists of loans and in the state. This is again due to increased share advances from market and banks and small of interest payments on accumulated debt in savings and provident funds as compared to the past as well as increased expenditure on phase I in which the share of permanent debt general services (this can be seen table 2, was higher. Thus, almost similar percentages where reduced share of development of loans outstanding h ave different expenditure depicts the increased share of implications just because of different structure non-development expenditure or expenditure of these loans. As we know that the loans from on general services). Each measure of deficit market and small savings need to be paid back indicates a different facet of fiscal health of in comparatively much shorter time period (as Punjab. The revenue deficit indicates the compared to permanent debt or loans from extent of public dis-savings, the primary centre), the government either to check its deficit reflects the non-interest deficit (which mounting deficit or would go on ponzying! excludes the past fiscal burden in terms of (ponzy scheme is known as the practice where interest payments) and the primary revenue previous debt is repaid by raising new debt, balance can also be described as non interest which of course is higher than the former and revenue deficit or say, it reflects the actual gap in this way the debt go on accumulating unless between current revenue and expenditure for a we find ways to finance it through additional particular year. We can observe from table 3 income). that the fiscal situation in Punjab has deteriorated on front of every deficit indicator Different Deficit Indicators in and the situations have worsened from phase II to phase III in both the absolute and percentage Punjab (as percentage of GSDP) terms. Table: 3 Major Deficit Indicators in Punjab in Different Phases
Perio d RD Total As % of GSD P (-) 1.33 0.33 3.33 PRB Total As % of GS DP (-) 1.8 4 0.2 9 3.2 9 GFG Total As % of GSD P 3.47 486.65 3070.1 6 0.13 1.74 5.04 -9.75 475.19 3047.9 6 Total PD As % of GSDP (-) 0.37 1.70 5.00
-34.85 92.55 (19.02) 2025.7 7 (65.98)
-48.07 81.10 2003.5 7
Note: Negative sign means surplus Figures in bracket show share of RD in GFG Source:
Calculated from Punjab Government Budget Documents, various years.

The deterioration in revenue account has can be observed from the following section as been quite worrisome. We can also see that the well. share of revenue deficit has increased tremendously in phase III as compared to The Issue of Sustainability
of
phase II as the table shows that this percentage
Finances of Punjab
Government
was 19.02 per cent in phase II which increased to 65.98 per cent in
Fiscal policy of any government is phase III, which means much is being spent on current constrained by the need to finance the deficit needs instead of creating assets for future and any deficit could be financed if it were development. This needs to be checked as this possible for the government to borrow without would take its toll on future economic restraint (Raju, 2007). However, in situations growth in the state and also puts question when the revenue are not moving that faster as on the solvency of the government, the expenditures, or technically speaking both changed particularly when under the the revenue and expenditure are not policy regime, the deficit is going to be financed cointegrated, then the government finances from costly market loans and short term would not be sustainable. In such a situation small savings. The results of gross fiscal gap either the government has to curtail its needs to be interpreted with a little caution as it expenditure or find ways to increase its may not take into consideration the quasi fiscal revenue. In this backdrop here an attempt has activities such as government guaranties been made to test the sustainability of finances and significant off-budget liabilities of the of Punjab government using the Hakkio and state level financial institutions to finance Rush (1991) and Haug (1991) technique infrastructure development and investment (which has already been discussed in the projects, which are actually the hidden fiscal section on methodology). The results of burden on state finances (Raju, 2009). Thus, methods are given in table 4. these the government of Punjab is obviously moving towards an unsustainable fiscal position. This Table: 4 Regression Coefficients of Hakkio -Rush (HR) and Haug (H) Equations
Period HR Dependent Variable: Government Revenue Independent Variable: Government Expenditure 1.11*** (0.05) 0.69*** (0.04) 0.81*** (0.05) H Dependent Variable: Surplus Independent Variable: Government Debt -0.033 (0.29) -0.498** (0.13) -0.461*** (0.12)
Source: Calculated from Punjab Government Budget Documents, various years.
**** significant at 99 per cent level of significance. ** significant at 95 per cent level of significance.
Using the Hakkio-Rush equation, we can more revenue has been generated in this phase observe that the revenue and expenditure in for any given amount of government Punjab were cointegrated in phase only as the expenditure and so the fiscal position of the estimated value of the regression coefficient is government was sustainable. But in
remaining greater than one, showing that comparatively two phases the situation changed as the estimated values of regression coefficient in both phases are less than one, showing an absence of cointegration between the revenue and expenditure. This shows the unsustainable fiscal position of the government. In other words, we can say that the revenues are increasing at a slower rate for any amount of government expenditure. Though, the situation somewhat improved in phase III but still the value of regression coefficient is less than one. Similarly, going by the Haug equation, which regresses the surplus generated at any time (t) on the government loan accumulated in the previous time period (t-1), assuming that the government would borrow to spend upon productive activities only and in such a scenario, any borrowings in the past would enhance the productive activity which would raise the general level of income in the economy and so the government's capacity to generate more revenue would increase in the succeeding time period leading to a surplus in government finances. But we have observed that this has not happened in case of Punjab as we can observe a negative coefficient in all the phases showing that for any borrowings in the preceding time period, the surplus of the government has rather declined. This indicates that government borrowings are either not used in productive activities or they are not productivity enhancing. A negative coefficient also indicates that for more borrowings there may be more expenditures leading to a decline in surplus of the government. Under such a situation, the government should curtail its borrowings otherwise, the debt would accumulate in each successive time period and thus endangering the solvency of the government.
References
Conclusions and Policy Implications
To sum up, we can say that the fiscal situation in Punjab is not sustainable and since most of its deficit is being spent on current needs than on enhancing the future earning capacities, there is a need to check this. This paper has found evidences indicative of unsustainable fiscal stance of Punjab government. This raises serious concerns about its fiscal health. In such a scenario the state would have to seriously concentrate on improvement of its fiscal health, particularly when there are pressures of compulsory fiscal corrections as per the Tenth Finance C o m m i s s i o n i n w h i c h t h e F i s c a l Responsibility Legislations (FRL) need a ceiling of guarantees, overall cap on borrowings at 3 per cent of GSDP etc. Further, the access to loans from market also needs a good economic health of the government. For this purpose, the state, first of all, should concentrate on generating a primary revenue balance which would enable it to meet the requirements of interest payments. The empirical evidence has suggested that it would be difficult for the state government to go on with existing system of expenditure and revenue and remain solvent. The government has to curtail its avoidable expenditure and generate new sources of revenue by rationally imposing user fees on public utilities and broadening the tax base by devising new ways of bringing prosperous agriculturists in to the tax-net. Such policies may be politically wrong but undoubtedly will be economically wise otherwise the financial health of the economy will be in deep danger.
! ! ! !
Hakkio, C. S. and M. Rush (1991), 'Is the Budget Deficit Too Large?, Economic Enquiry, Vol. 29, pp 429-55. Haug, A. A. (1991), 'Cointegration and Government Borrowing Constraints: Evidence for the United States', Journal of Business and Economic Statistics, Vol. 9, pp 97-101. Rajmal (2006), 'State Finances and Effectiveness of Policy Measures: An Analysis of Indian States', Reserve Bank of India Occasional Papers, Vol. 27, No. 1/2, pp 141-175. Raju, Swati (2007), 'Examining Sustainability of State Level Deficits in India' Working
Paper UDE 22/2/2007, University of Mumbai, Mumbai. Raju, Swati (2009), Analysing the Fiscal Stance of State Governments in India: Evidence from Fourteen Major States, Working Paper , University of Mumbai, Mumbai. ! RBI (2007), Handbook of Statistics on the Indian Economy, Reserve Bank of India, Mumbai. ! RBI (2008), State Finances: A Study of State Budgets of 2007-08, Reserve Bank of India, Mumbai. ! World Bank (2005), 'State Fiscal Reforms in India: Progress and Prospects', A World Bank Report, Washington, D. C. ! Burnside, Craig (2005), 'Theoretical Pre-requisites of Fiscal Sustainability Analysis' in Burnside, C. (ed), Fiscal Sustainability in Theory and Practice: A Handbook, World Bank, Washington D. C. ! Gordon, Roger H. (2008), 'Public Finance and Economic Development: Reflections Based on the Experience in China', a paper presented at Growth and Development Conference, held at the Brookings Institution, April 11. ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000ISSN : 0976-4712
Institutional Repository at Sardar Patel University Campus Vidya Repository

Dr. Nimesh D.Oza
Assistant Professor, DLIS, Sardar Patel University,Vallabh Vidyanagar, Gujarat Universities are symbol of mankind's attainment and achievement of higher education and research. It stands for universal thoughts and having no barriers to gain knowledge. Similarly libraries plays key role to acceleration of learning resources in university. With reference to easily access of digital materials; today we can observe of the most significant developments for universities has been increasing Institutional Repositories. Virtual access of digital resources is now become an emerging opportunity for universities
in India. This research aims to illustrate how a university can able to have its own webbased institutional repository. It suggests Vidya Repository as a key model of Institutional Repository for Sardar Patel University Vallabh Vidyanagar, Gujarat. This report also covers fundamentals of the Institutional Repository and discusses various essentials of IR & IT infrastructure for libraries in University stage; several components like Resource Sharing, building up an IR, Planning and measurement of hardware and software, tools and techniques, Metadata and optimization etc. are also discussed. As the outcome of the proposed IR format; a comprehensive Institutional Repository of Sardar Patel University will be demonstrated.
Introduction
o f I n f o r m a t i o n S t o r a g e , R e t r i e v a l , Libraries play a vital role in the chain of Dissemination and communication.We are
knowledge and communication. Through the leaving in a Global village and India is an generations mankind mould his Intellectual upcoming with its glorious history to ability to the best fitment from the nature itself. prospective future. Sound planning for Libraries works in a Society as Brain works for advanced Information suggest is urgently an Individual to attain the progress and required to achieve this goal. development. Hence, Libraries are considered as a cradle of civilization, culture and Objectives of the Study knowledge. Now the modes and means for the a) To propose a functional and operational I nf o r ma t io n g a th er in g hav e b e c o me Model for Sardar Patel University completely changed. With the advent of ICT Institutional Repository (named as Vidya no one area of knowledge Generation and Repository) transmission are untouched with its b) To suggest managerial issues such as tremendous Influence. Cybrary has taken the control of collections in co-operative place of the word Library. In the light of the manner, storage, process, retrieval or above Scenario one can easily understand the dissemination on the basis of objective emergence of e-resources, digital library. number one. There is a dose and organic line between the c) To suggest technical issues such as betterment, advancement and development of selection of software, requirement of any nation do its Intellectual and research hardware and support service for the output. In fact, looking to order economy, we maintenance found that the developed countries are more d) To find out new areas of user services at advanced then others because they move Sardar Patel University campus. forward in all manners particularly in the field
Institutional Repository
a) Collected primary data pertaining to faculty and other staff members of the Universities (department wise) from the official publications of University such as Annual Report or any other similar documents. b) The data about outcomes of academic interest from the faculties and other staff members, executives, officials collected by a discussion and personal interviews. c) For secondary data collection, number of books, journals, databases, status report, monographs, and dissertations pertaining to area of the study were reviewed. Researcher undergone some practical training particularly in Open Access, Open Source Software within the span of project period and earlier. The Details are as under.
Universities library and IT scenario
University is a symbol of mankind's attainment and achievement through the constant observation, analysis and its generalization. It is basically stand for universal thoughts. It has no barriers to gain the knowledge. Similarly, university library echoes these noble concern and thus library prove its inevitability. The process and functions of university Libraries are now turned to (and likely to be, in the case may be) soft arena i.e. Digital
front. Acceleration of e-resources is very easy and available for options the smooth and effective Information Service but the problem is of proper storage and retrieval of such eresources. Many software packages are available in the market for Digital library. In spite of, Digital addition or Digital Publication of such document is difficult for the users or scholars.
An institutional repository is a set of services that a university offers to the members of its community for the management and dissemination of digital materials created by the institution and its community members. It is most essentially an organizational commitment to the stewardship of these digital materials, including long-term preservation where appropriate, as well as organization and access or distribution. A repository has been defined as a storage facility to which libraries can transfer eresources which are no longer required by their readers. By transferring such materials to a repository, libraries can reduce their e-resource storage. Scholarly communications are being restructured for the digital environment. Already much discussion about the future of Scholarly publishing has resulted in widespread experiments in open archiving. These have been supported by development of OAI protocol for Metadata Harvesting (OAI - PMH) and new standards for structured digital object storage and exchange formats. As digital rights because ever more important, institutions have begun to pay more attention to their production. One of the key new concepts being discussed by universities is the Institutional Repository (IR). This is a collective intellectual output of an institution recorded in a form that can be preserved and exploited.
Sardar Patel University
Sardar Patel University was established in the year 1955; located at Vallabh Vidhyanagar in Gujarat. It is full-fledged University with eleven distinct faculty streams and having 25 post graduate departments and 53 colleges. As the part of outcome of the research and publication, university publishes one in-house journal and seven different academic journals by various departments. The numbers of Faculties are engaged in their UGC Assigned research project and some national and International Agency funded research.
Central Library of Sardar Patel University
Central Library is known as Bhaikaka Library. It is located at the centre of the university, plays a role of heart and accelerating knowledge in the university. The library has rich collection of books, magazine,
back volumes, CDs and VCDs. The library is institutional scholarly communication also coming under UGC-Info net consortium, hosting, 'Core Committee' can think about so it's having full text access of many e-well-surround workflow and policies for IR. journals. Total collection is approximately 2 They can seek help from the authorities for lacks including Books and back-volumes. The financial supports and IT experts for the approximate numbers of user including technical holds. students enrolled in library are more than
1800. (http://www.spuvvn.edu)
Application, Utilization and Use in Campus Stage
7.0 Structure for building up IR at S.P.
Once the Higher Educational Institutes, University ffd8ffe000104a4649460001020100c800c80000ffe 20c584943435f50524f46494c4500010100000c48 4c696e6f021000006d6e74725247422058595a20 07ce00020009000600310000616373704d534654 0000000049454320735247420000000000000000 000000000000f6d6000100000000d32d48502020 0000000000000000000000000000000000000000 0000000000000000000000000000000000000000 0000000000000011637072740000015000000033 64657363000001840000006c77747074000001f0 00000014626b707400000204000000147258595a 00000218000000146758595a0000022c00000014 6258595a0000024000000014646d6e6400000254 00000070646d6464000002c40000008876756564 0000034c0000008676696577000003d400000024 6c756d69000003f8000000146d6561730000040c 0000002474656368000004300000000c72545243 0000043c0000080c675452430000043c0000080c 625452430000043c0000080c7465787400000000 436f707972696768742028632920313939382048 65776c6574742d5061636b61726420436f6d7061 6e79000064657363000000000000001273524742 2049454336313936362d322e3100000000000000 0000000012735247422049454336313936362d32 2e31000000000000000000000000000000000000 000000000000000000Universities
recognized the need for something different, it is a time to investigate the possible Avenues of open Access scholarship. It required some decisions to be taken for. Provision of a functional frame work to collect, preserve and disseminate scholarly content. Consideration of a university's scholarly materials in one place, making Scholarship available to a world wide audience. Preservation of digital content. There should be a provision for the constitution of task force for a Sardar Patel University repository, which will comprise of Any new service or flavor should be added all possible library stakeholders. The task with great care and planning. It should not force set out to study the different products disturb existing structure as well as it should be available for IRs, as well as what it would take cost effective looking to its usage. Particularly, to implement and maintain the IR, namely, when university library plan to create IR for its Funding, Hardware and Software options, own faculty or research scholars it is some
Knowledge Content, staff, Time Frame, etc. what easy as most part of the users Community The task force may also examine Sardar Patel are well versed with use and application of IT University faculty culture in relation to how a for its academic activity. There are some areas 'Vidya Repository' might (or might not) be to consider for newly started IR: used.
Planning & Implementing an
For the newly created IR, this issue are
Technical Issue
The University is passing through the very important as all the traditional users has to creativity in such a way that this problemsofElectronicResource new area to
Management. For that they should plan should be user friendly and not otherwise. It is
very build-up an Institutional Repository at important to decide such a critical issue university stage; the authorities of University be a by not only one person but there should
Task force committee to setting up an IR and Post Graduate Department of Library & at Information Science can run hand to hand, and University For the committee Agenda are full be of the able to take new initiatives for preserving issues like and retrieval of electronic documents. For the charge one may choose any one looking to its tools, such as the Apache Web server, the features and limitations.Another option is to Tomcat Servlet engine, and the PostgreSQL build up own software it is advisable for the relational database system. The following university who wants to take a leading role in hardware is suggested at the stage of one region, one subject, and their own format. university. Development of own platform offers the HP Server rx2600, powered by dual 64-bit ultimate customization but will also require Intel Itanium 2 processors (900MHz), more expertise and manpower. Open source 2GB RAM 26 GB internal disk storage. HP repository platform which is freely available Storage Works. are advisable for the campus wide or one Sun Fire 280R Server, two 900MHz Ultra university's repository But it has some SPARC-III Cu processors, 8MB E-cache, limitations as lack of traditional customer 2GB memory, two 36GB
10,000rpm HH support, Limited/build in storage space internal FCAL disk drives, DVD, 436-GB, automatic metadata creation etc. While or 12 x 26.4 Gbyte 10K RPM disks, Sun choosing on IR platform it is important to keep StorEdge A1000 rack mountable w/ 1 HW in mind a University's IA (Intellectual Assets) RAID controller, 24MB std cache. and how material in the IR will potentially be Dell Power Edge 2650 with dual Xeon used. The DSpace software is recommended processors (2.4GHz), 2GB RAM, 2x73GB for the Vidya Repository of Sardar Patel scsi disks. One 2.5TB Apple XServe. A University, based on its local environment and DLT tape library to back up the DB/jsps ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000
requirement. DSpace technology was etc. Around $10K. developed through a collaboration of the MIT (http://www.dspace.org/faqs/index.html#hard Libraries and HewlettPackard Labs. It is ware)available through SourceForge.net as an open source system. For software platform it needs Other Essentials for IR
A p a c h e A n t . 1 . 5 UNIX-like OS (Linux, HP/UX etc), JAVA 1.4,
, P o s t g r e S Q L 7 . 3 , o r O r a c l e 9 , M e t a d a t a C r e a t i o n
& d e v e l o p m e n t : J a k a r t a T o m c a t 4 . x / 5 . x e t c . B e c a u
s e t h e d e f i n i t i o n s o f m e t a d a t a a r e
( h t t
p : / / d s p a c e . o r g / t e c h n o l o g
y / s y s t e m n u m e r o u s , a s a m p l i n g o f d e f i n i t i o n s
f r o m t h e
1. Types of Metadata
security data (i.e.
system functions or metadata behaves- like There are two types of metadata according Hardware and software documentation, to, a recent Members Update from the Authentication and National Federation of Abstracting and encryption keys, passwords), Formats etc. Indexing Services (NFIS) calls metadata the 5. Use: Metadata related to the level and type new A&I, are as below: of use of information resources, like
1. Automatically Generated Indexes: It Exhibition records, Use and user tracking, includes the indexes used by search Multi-versioning information etc. engines such as Lycos, Alta Vista, Metadata is literally data about data. It is WebCrawler, and other locator services descriptive information used for querying. b.that generate indexes through crawlers and Some metadata can be done mechanically, spiders. It does not include indexes such as such as file sizes, checksums, and full-text Yahoo, which use people to classify indexing, for instance. Other metadata is a networked resources into a hierarchical higher order of human-made description such directory. Automatically generated as titles, authors, unique identifiers, and indexes are what Taylor calls on-the-fly abstracts. If we go for DSpace options, DSpace records, created electronically for employs QDC (Qualified Dublin Core) DC immediate use when a search is (Dublin core) is OAI (Open Access Initiative) implemented on the Web. Compliant and also allows for easy, standard 2. Manually Created Records: Cataloguing description of a broad spectrum of scholarship records, such as the records libraries Metadata Considerations when creating an IR: produce in the MARC data format, are the 1. Is Descriptive, and example of manually created metadata, Preservation Administrative,
2.
metadata needed? that is, surrogates for the original 2. What is the the information resources. The Dublin Core is institutions IR? specific purpose of
e so far of a manually created
Here University's IR where target is of a
metadata model.
particular form of scholarship and usable only Categories of on Metadata campus base than different model should be
docs/install.html) most widespread definition is the
literature is probably the best way to start. By
considered Ex. SCR
There are five types of categories. Out of these Object Reference Model). After the
ct sentence: Metadata is data about Five, Three Categories are useful to the LIS establishment of a universities IR we may have
field. t o be considerations of Minimum required Hudgins, Agnew & Brown stats that: The 1. Administrative metadata: Which are fields and Handling controlled vocabulary. To parts of a computer, as distinguished from the term metadata commonly refers to any data Hardware comprises all of the physical
used in managing and administering
overcome these considerations there are some
n the identification and location of information resources, like Acquisition agreed software that
solutions such as to set a specific provides instructions for the networked electronic resources. A primary information, Location information, vocabulary such as LCSH or any hardware to accomplish tasks. The other subject boundary function of metadata is resource discovery: Version control etc. the query formation and heading list fit to
ll be 2. Descriptive metadata: Which are used to search solution and some additions or
d describe or identify information resources, Modifications of the scholars selected subject
like Cataloging records, Hyperlinked
specific or form specific terms might be
(en.wikipedia.org/wiki/Computer_hardware) Another important function provided by
relationship between records, Annotations
allowed for the case to use over and above the
metadata is control of the electronic resource. by users etc. on the selection of Software. Because if Whether through ownership and controlled vocabulary. provenance 3. Preservation metadata: This related to university procures GSDL, than it can run on metadata for validating information and normal system environment, but if university tracking use; rights and permissions metadata wants to go with DSpace, then they should for controlling access; or content thepreservationmanagementof presenting University's IR (UIR) to ratings campus i n f o r m a t i o n r e s o u r c e s , l i k e community the importance of controlled Documentation of physical condition of Vocabularies and how they will ultimately procure the hardware. There are no specific metadata, a key component of some Web server requirements for DSpace except UNIX. filtering applications. DSpace is built on top of free, open-source
Controlled vocabula
resources, Data refreshing and data allow better and greater access to migration etc. their 4. Technical metadata: Related to how scholarly a research is emphasized. But controlled vocabulary Creation is time consuming and often goes uncompleted if faculties are given option of creating the terms of their own.
Content Creation
Content in Digital forms having a many variety of type and format such as Gray l i t e r a tu r e , P er io d i c a ls (C D fo r ma t), Periodicals(On line), in house publications such as House journal (Sheet shrutam), Academic Journals (Such as PRAGNA, Arth vikas etc.) Annual reports, photographs, video clippings, celebrations etc.
Feedback Mechanism
The degree of success relies on the optional use of e-resources of an UIR. That's why any system should be evaluated by feedback from its users and end users. There may be a provision of short feedback queries of any standard format which should not be embracing on the part of users of an UIR at the same time this feedback should be considered for the retirement of the exisisting IR systems and it's up gradation.
Promotional Planning of a VIDYA REPOSITORY
PG Department of Library & Information Science, Sardar Patel University is going to set up an Institutional Repository Vidya Repository with DSpace software options. The University is having 26 Post Graduate Department with some administrative units of i m p o r t a n c e f r o m B h a i k a k a L i b r a r y (University Library) and University Press which are by and large responsible for the Publication work. Numbers of faculty members are working on research projects funded by various funding agency like, UGC, DST, NBHM, etc. Every year approximately 50 to 70 students awarded their Doctoral degree, while round about 175 to 200 are getting their M.Phil. With these statistics there is a good stuff to feed a repository. It is planned in phase manner. In phase I of this project data will be
collected to know the Resource Generation outcome, by Individuals, by Departments, by Specialization, by Subject Specification as well as the formats of these generated sources will be chiefly considered. There will be several important issues, like Rights Management on the part of Service providers and IPR issues on the part of Data providers also should be concern. In Technical requirement, Hardware and software selection will be finalized looking to present availability and essential future requirements. While deciding H/S selection, it should be frame in e x e c u t i o n t h a t t h e p e r s i s t e n c y a n d compatibility of Hardware and software to cope of with constant change and some what volatility of the future. Furthermore, service model for the access and submission of the scholarly communication will decide. In management and maintenance area workflow and responsible human ware will determined. In phase-II creation of Vidya Repository will take place with DSpace software. Above all there are some barriers like cultural, technical and financials should be sort out and will operational with complete top-down support. By making this fully functional university can be uplift not only foster and feed the local research but by making global access one can tighten their hands with contemporary global trends and developments. The total mechanism of a VIDYA REPOSITORY should be trusted and re usable in the terms of update ness and new additions. More and more data providers must be attract to fill up the space in the IR with its fresh out comings. Actually, Assessment of any faculty members, research scholars etc. are to be on the basis of up gradation of deposited content in the part as well as new additions with fresh output in the University Institutional Repository systems
Conclusion
The above noted essentials will help to establish new IR at university level. It covers various aspects and made comparative study between software and hardware. The Vidya repository will be taken as the new initiatives as follow the University and Central library.
Collection of Digital Sources from the Faculties / Department
ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000
ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f505
24f46494c4500010100000c484c696e6f021000006d6e747252474220 58595a2007ce00020009000600310000616373704d53465400000000 49454320735247420000000000000000000000000000f6d6000100000 000d32d4850202000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000000116 3707274000001500000003364657363000001840000006c777470740 00001f000000014626b707400000204000000147258595a0000021800 0000146758595a0000022c000000146258595a000002400000001464 6d6e640000025400000070646d6464000002c4000000887675656400 00034c0000008676696577000003d4000000246c756d69000003f8000 000146d6561730000040c0000002474656368000004300000000c725 452430000043c0000080c675452430000043c0000080c625452430000 043c0000080c7465787400000000436f7079726967687420286329203 1393938204865776c6574742d5061636b61726420436f6d70616e7900 00646573630000000000000012735247422049454336313936362d32 2e31000000000000000000000012735247422049454336313936362d 322e3100000000000000000000000000000000000000000000000000 0000 Feed Back ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f505 24f46494c4500010100000c484c696e6f021000006d6e747252474220 58595a2007ce00020009000600310000616373704d53465400000000 49454320735247420000000000000000000000000000f6d6000100000 000d32d4850202000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000000116 3707274000001500000003364657363000001840000006c777470740 00001f000000014626b707400000204000000147258595a0000021800 0000146758595a0000022c000000146258595a000002400000001464 6d6e640000025400000070646d6464000002c4000000887675656400 00034c0000008676696577000003d4000000246c756d69000003f8000 000146d6561730000040c0000002474656368000004300000000c725 452430000043c0000080c675452430000043c0000080c625452430000 043c0000080c7465787400000000436f7079726967687420286329203 1393938204865776c6574742d5061636b61726420436f6d70616e7900 00646573630000000000000012735247422049454336313936362d32 2e31000000000000000000000012735247422049454336313936362d 322e3100000000000000000000000000000000000000000000000000 0000 The proposed structure of Vidya Repository will be resulted as the outcome.
References

62
Barton, Mary R. and Waters, Margaret M. (2004), Creating an institutional repository: LEADIRS workbook, Massachusetts: MIT Press. Das, Anup Kumar and Sen, B. K. and Dutta, Chaitali (2005), Collection development in digital information repositories in India, Vishwabharat at TDIL (17): pp. 91-96. Foster, Nancy Fried. (2005), Understanding faculty to improve content recruitment for institutional repositories, D-Lib Magazine, 11(1). Johnson, Richard K. (2002), Institutional Repositories: Partnering with faculty to enhance scholarly communication, D-Lib Magazine, 8(11), Jones, Richard (2007), Institutional Repository, Oxford, England: Chandos. Jones, Richard. (2006), The Institutional Repository, Oxford, England: Chandos. Mary Westell, (2006), Institutional repositories: proposed indicators of success, Library Hi Tech; Vol 24, No.2 MIT's DSpace Experience: A Case Study, http://www.dspace.org/implement/casestudy.pdf Rajshekar, T.B., (2003), improving the visibility of Indian Research, An Institutional, Open Access Publishing Model, The Indo-US Workshop on Open Digital Libraries and Interoperability, June 23-25
50524f46494c4500010100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006 00310000616373704d53465400000000494543207352474 20000000000000000000000000000f6d6000100000000d3 2d485020200000000000000000000000000000000000000 00000000000000000000000000000000000000000000000 00000000001163707274000001500000003364657363000 001840000006c77747074000001f000000014626b707400 000204000000147258595a00000218000000146758595a0 000022c000000146258595a0000024000000014646d6e64 0000025400000070646d6464000002c4000000887675656 40000034c0000008676696577000003d4000000246c756d 69000003f8000000146d6561730000040c0000002474656 368000004300000000c725452430000043c0000080c6754 52430000043c0000080c625452430000043c0000080c746 5787400000000436f707972696768742028632920313939 38204865776c6574742d5061636b61726420436f6d70616 e7900006465736300000000000000127352474220494543 36313936362d322e3100000000000000000000001273524 7422049454336313936362d322e31000000000000000000 000000000000000000000000000000000000 ISSN :
0976-4712 63
Indian Symbols of Spirituality ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c4500010100000c484c69 6e6f021000006d6e74725247422058595a2007ce00020009000600310000616373704d534654000000004 9454320735247420000000000000000000000000000f6d6000100000000d32d4850202000000000000000 000000000000000000000000000000000000000000000000000000000000000000000000000000001163
707274000001500000003364657363000001840000006c77747074000001f000000014626b70740000020 4000000147258595a00000218000000146758595a0000022c000000146258595a0000024000000014646d 6e640000025400000070646d6464000002c400000088767565640000034c0000008676696577000003d40 00000246c756d69000003f8000000146d6561730000040c0000002474656368000004300000000c725452 430000043c0000080c675452430000043c0000080c625452430000043c0000080c7465787400000000436f 70797269676874202863292031393938204865776c6574742d5061636b61726420436f6d70616e7900006 46573630000000000000012735247422049454336313936362d322e31000000000000000000000012735 247422049454336313936362d322e3100000000000000000000000000000000000000000000000000000 0appraisals based on work team performance, Indian Management Philosophy'.
"Symbolism strategic improvising, and strategic alliances in Indian Culture" is a platform which we are
Symbols of Spirituality
.This continued till1970s. Then
emerged the providing to explain all relevant, extraneous, idea of 'Japanese Management' wherein significant, inconsequential management Technology and Culture found a new practices which we perform without
Neelam Sharma
integration and Assistant Professor, Greater Noida Institute of Management & Technology, many new ideas such as Team understanding the why, what and how behind G.Noida Building, Quality Circles etc emerged. them. Like Japanese created a synthesis (U.P.) Japanese management is the company union. between Technology and Culture, Indian E v o l u t i o n o f M a n a g e m e n t
T h o u g h t h a s b e e n c l a s s i f i e d i n t e r m s o f t h r e e d i s t i n c t e r a
s v i z . ' S c i e n t i f i c ' M a n a g e m e n t e r a , H u m a n s i d e e r a a n d t h e
N e w M a n t r a s e r a . T h e i d e a o f I n d i a n M a n a g e m e n t i s r o o t e d
i n t h e p h i l o s o p h y o f l i f e i n c o n t r a s t t o t h e i d e a o f ' A m e r
i c a n M a n a g e m e n t ' w h i c h i s r o o t e d i n t h e i d e a o f ' C o r p o r a t i
o n ' . I n d i a n M a n a g e m e n t o f f e r s t h e p o t e n t i a l i t y o f b r o a d e n i
n g t h e ' c o n c e p t o f m a n a g e m e n t ' a n d i m p l i e s h o l i s t i c a p p r o a
c h t o w a r d s m a n a g e m e n t . T h e s y m b o l s o f s p i r i t u a l i t y p r o v i d i
n g m a n a g e m e n t a n d l e a d e r s h i p l e s s o n s a r e t h e I n d i a n F l a g ,
t h e The workers do not have separate skill Management has not only created many new identification outside of the company. mantras to reduce the stress of the Corporate Japanese managerial style and decision Mangers but also has focused on integration of making in large companies emphasizes the Spirituality and Management. This can be flow of information and initiative from the considered as distinctive contribution of bottom up, making top management a Indian Management to the world of Four Lions, the Chakra, facilitator rather than the source of Lotus, Dia, Samudra manthan and Indian Festivals. authority, Management Thought. Thus, in contemporary Spiritual symbols presented provide us a new way of defining the idea of 'Indian while middle management is both the impetus times, Management Management'. In Thought is directly or the era of 'Holistic Globalization', time has come to globalize these for and the shaper of policy. They learn to indirectly ideas from Indian Management influenced by three knowledge for the benefit of every one. produce work of higher quality using few streams viz. 'American Management' simple tools and
advanced industria 'Japanese Managem concepts and 'India Management' conce
ndian tools. Management Philosophy, Symbolism in Indian Culture
I n t r o d u c t i o n
4 . D i v i
d e w o r k n e a r l y e q u a l l y b e t w e e n E v o l u t i o n o f M a n a g e
m e n t T h o u g h t o v e r l a s t m a n a g e r s a n d w o r k e r s , s o t
h a t t h e h u n d r e d y e a r s c a n b e b r o a d l y c l a s s i f i e d i n m
a n a g e r s a p p l y s c i e n t i f i c m a n a g e m e n t terms of three distinct eras viz: principles to planning the work and the Scientific' Management era (with its workers actually perform the tasks. beginning around 1900), During the Human side era, management Human side era (with its beginning theory and practice was deeply influenced by 1960s) the discipline of around Psychology and related Th e
Ne w M an tra s er a (w ith its be gi nn in g dis ci pli ne s. Its fe at ur es in cl ud e: ar ou nd 20 00 ) wh er e Hu m an an d Sp irit ua l Pe rs on ne l
ad mi nis tra tio n Va lu es se e m to ec ho in M an ag e m en t Or ga niz ati on al m an ag e m en t Th ou gh t. M an po we r m an ag e m en t Du rin g th
e 'S ci e nt ifi c M a n a g e m e nt ' er a, In du str ial m an ag e m en t M an ag e m en t Th ou gh t wa s de ep ly inf lu en ce d Wi th th e ac ce
pt an ce of Yo ga an d M ed ita tio n as by th e dis ci pli ne s of En gi ne eri ng an d str es s m an ag e m en t to ols for Co rp or at e Ec on o mi cs. Sc ie nti fic m
an ag e m en t co nsi st ed M an ag er s, th e dis ci pli ne of Sp irit ua lit y/ In ne r of fo ur pri nc ipl es : sci en ce s st art ed inf lu en ci ng th e M an ag e m en
t Taking an inspiration from this thought Another interesting development in the revolution; many Indian scholars worked on field of Management Thought has been taking cultural dimension of management and place as a result of the influence of many New suggested some new ideas and focused on Age Thinkers who are raising new issues such ancient Indian wisdom to develop ideas for as environmental issues, gender issues, social contemporary management theory and equity issues etc. Initial developments in practice. While their work paved a way for the Management Thought were rooted in i d e a of'Indian Managem ent',the Industrial Revolution and the Spirit of breakthrough was achieved because of the Capitalism.
New questions are being raised impact of Yoga and Meditation on the about these ideas because Industrial corporate world, beginning with global impact Revolution has turned out to be polluting o f Maharishi M a h e s h Yo g i'sTM revolution and 'Spirit of Capitalism' has (Transcendenta l Meditation). created the 'Crony Capitalism', 'Casino The management concept in the west Capitalism' and 'Matka Capitalism' of developed as a result of evolutionary process, speculative variety besides adversely based on the changing values systems of the influencing the environment. Hence, search people -the social, political, and economic for new ideas and new mantras have begun environment as well as educational
1. R e p l a c e r u l e o f t h u m b w o r k m e t h o d s w i t
and thathas led to new phrases such as 'Karma cultural milieu. However, in India, historically Capitalism', 'Integral Capitalism', Caring we never evolved our own concepts, keeping Capitalism, Compassionate Capitalism etc.
h T h o u g h t i n g e n e r a l l e a d i n g t o m a n y N e w m e t h o d s b a s e d o n
a s c i e n t i f i c s t u d y o f t h e M a n t r a s i n M a n a g e m e n t a n d L e a d e r
s h i p . t a s k s . E v o l u t i o n o f ' M a n a g e m e n t T h o u g h t ' h a s the Indian scenario in view. We found it Changes in managerial concepts have also c o n v e n
ienttotran sfermanag ement facilitated the need for New Mantras in technology, trust as scientific technology. As a Management Thought rooted in holistic view 2. S c i e n t i f i c a l l y s e l e c t a n d t h e n t r a i n , t e a c h
, a l s o b e e n i n f l u e n c e d b y i d e a s c o n t r i b u t e d b y a n d d e v e l o p
t h e w o r k m a n , w h e r e a s i n t h e d i f f e r e n t n a t i o n s . I n i t i a l l y
M a n a g e m e n t p a s t t h e e m p l o y e e c h o s e h i s o w n w o r k a n d T h o u g h
t w a s d o m i n a t e d b y ' A m e r i c a n t r a i n e d h i m s e l f a s b e s t h e c o
u l d . M a n a g e m e n t ' c o n c e p t s w h i c h i n c l u d e result of these grafting processes of of life. management, we have created more confusion Indian scheme of life' takes a holistic view in management thinking. of life. Spirituality is integral part of this world Ideas presented in
this paper were also view as reflected by the four dimensions of life 3. Provide "Detailed instruction and legitimate power-based leadership style, extended and presented as part of Keynote viz. supervision of each worker in the employee relations policies, gain sharing, address, under the title, 'Seven Symbols of Dharma (Ethical foundation), performance of worker's discrete task". Artha (Material foundation, Spiritual. Its three colors have following Hence, we tend to ignore this dimension. ffd8ffe000104a46494600010101006100620000ffdb0043000c08090b09080c0b0a0b0e 0d0c0e121e1412111112251b1c161e2c272e2e2b272b2a3137463b313442342a2b3d533 e42484a4e4f4e2f3b565c554c5b464d4e4bffdb0043010d0e0e121012241414244b322b32 4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b 4b4b4b4b4b4b4b4b4b4b4b4b4b4b4bffc00011080049005703012200021101031101ffc4 001f0000010501010101010100000000000000000102030405060708090a0bffc400b510 0002010303020403050504040000017d01020300041105122131410613516107227114 328191a1082342b1c11552d1f02433627282090a161718191a25262728292a343536373 8393a434445464748494a535455565758595a636465666768696a737475767778797a8 38485868788898a92939495969798999aa2a3a4a5a6a7a8a9aab2b3b4b5b6b7b8b9bac2 c3c4c5c6c7c8c9cad2d3d4d5d6d7d8d9dae1e2e3e4e5e6e7e8e9eaf1f2f3f4f5f6f7f8f9faffc 4001f0100030101010101010101010000000000000102030405060708090a0bffc400b51 1000201020404030407050404000102770001020311040521310612415107617113223 28108144291a1b1c109233352f0156272d10a162434e125f11718191a262728292a3536 3738393a434445464748 through connectivity with Kama (Pleasure
seeing) and meaning in terms of three energies/ forces: When we look at the four lions symbol round and linkage with open Moksha (Spiritual foundation). Green: Physical energy/ Physical force from 45 degree angle we see only two lions viz. space. As a national symbol it implies nation's evolution According to Hindu Philosophy, primary goals White: Mental energy/Knowledge force Market and State. For many years we have g
through connec Dharma (adher Spiritual force i ethical way of li is a convergenc Community and Kama (fulfilling desires) and Moksha energies, success is ensured. (preparing oneself for life after life and seeking During India's freedom struggle, these enlightenment and salvation from the cycle of three energies found convergence and this led birth).Wealth and desires lead to worldly to liberation of India and this liberation led to represented by Self.
experiences and openness to the contemporar y Four lions symbolism suggests that we global influences. It is also a symbol of should take a holistic perspective in enlightenme nt, awakening and liberation. In u nderstanding the macro-level dynamics spiritual literature, the metaphor of 'Thousand pleasures and Dharma and moksha to liberation of many other countries from liberation. Sanatan Dharma tells in general colonialism. Indian flag represents a model of how to keep a balance between the two and at management that can be referred to as PMS between four fundamental force influencing Petal Lotus' is widely used as a symbol of our institutions and organization. awakening. It reflects not only material level beauty what point of time of human life (Physical, Mental, and Spiritual) model talked 3. Management Lesson from 'Chakra' as but also spiritual beauty. Thus, it represents the
t by Swami Vivekananda in his writings. 'Omega Circle' MS (Material + Spiritual) approach to life. In
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e2e3e4e5e6e7e 1f2f3f4f5f6f7f8f 001f010003010 101010101000 000010203040 8090a0bffc400b 020102040403 040400010277 031104052131 510761711322 144291a1b1c10 52f0156272d10 4e125f1171819 28292a353637 434445464748
is another impo the Lotus flowe that matter any SymbolsofSpirituality

PMS model represents convergence of three
symbol of spiritualit one can see the sym infinity. Thus, energies viz. Physical, Mental and Spiritual
also a symbol of ho flowers can be view terms of intertwinin
Contributing Toward Indian represented by Indian flag. Management

In organization context, both in case of
and unfolding of inf
holistic thinking. It h
unfolding of a flowe implies potentiality I t m a y b e i
n d i c a t e d t h a t t h e i d e a o f I n d i a n c o r p o r a t e d e v e l o p m e n t a s
w e l l a s i n s t i t u t i o n M a n a g e m e n t i s r o o t e d i n t h e p h i l o s o p h y
o f l i f e b u i l d i n g , s u c c e s s i s a c h i e v e d w h e n t h e r e i s
important significan
infinity within one s India thereby self ologyand evolu
implies realizing thi within. in contrast to the idea of 'American convergence of these three energies. This idea history. From the myth of 'Sudarshan chakra' to Management' that is largely rooted in the idea is also applicable in case of individuals. 'Ashok chakra' in Indian flag, we are all 5. Management of 'Corporation'. Lesson from 'Dia' (Lamp) Thus, Indian Management Successful managers and leaders consciously familiar with the symbolism of chakra. From ffd8ffe000104a46494600010101006100620000ffdb0043000c08090b09080c0b0a0b0e 0d0c0e121e1412111112251b1c161e2c272e2e2b272b2a3137463b313442342a2b3d533 e42484a4e4f4e2f3b565c554c5b464d4e4bffdb0043010d0e0e121012241414244b322b32 4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b 4b4b4b4b4b4b4b4b4b4b4b4b4b4b4bffc00011080051005003012200021101031101ffc4 001f0000010501010101010100000000000000000102030405060708090a0bffc400b510 0002010303020403050504040000017d01020300041105122131410613516107227114 328191a1082342b1c11552d1f02433627282090a161718191a25262728292a343536373 8393a434445464748494a535455565758595a636465666768696a737475767778797a8 38485868788898a92939495969798999aa2a3a4a5a6a7a8a9aab2b3b4b5b6b7b8b9bac2 c3c4c5c6c7c8c9cad2d3d4d5d6d7d8d9dae1e2e3e4e5e6e7e8e9eaf1f2f3f4f5f6f7f8f9faffc 4001f0100030101010101010101010000000000000102030405060708090a0bffc400b51 1000201020404030407050404000102770001020311040521310612415107617113223 28108144291a1b1c109233352f0156272d10a162434e125f11718191a262728292a35363
offers the potentiality of 'Dia' (earthen lamp) is broadening the or u n co n sc iou s ly use thi s 'e ne rgi e s the bullock
738393a434445464748
cart to the cycle, from cycle to car, a n o t h e r s y
m b o l o f s p i r i t u a l i t y . I t i m p
l i e s C o r p o r a t i o n t o a b r o a d e r
a p p r o a c h . T h i s l e a d e r s h i p . c r i t i
c a l a n d i m p o r t a n t p o s i t i o n i n c i v i l i z a t i o n 'concept of management' from its rootedness in convergence approach' to management and
from car
to aero-plane, 'chakra' occupies a s preading light and removing management and human development. Seven 2. Management Lesson from Four Lions development. Its ancient connectivity with the broadening implies holistic approach to darkness.
'Dia Symbolism of four lions is useful in ideas of Shunya and zero is another interesting r epresents the inner light. the following discussion we provide seven Symbols of Indian Management Philosophy In understanding the concept of aspect of its spiritual significance. In my Every individual possess an symbols of Spiritual and Human Values 'Holistic Globalization'. This writings I have developed the idea of 'Omega 'inner lamp' through which that he can spread representing some New Mantras in the field of concept is based on the idea of circle' based on the idea of 'chakra', wherein the knowledge light to others. It may be Management Thought. They also define the dynamicinteractiona m o n g Spirit of 'Indian Management Thought' as well ffd8ffe000104a46494600010101006100620000ffdb0043000c08090b0 9080c0b0a0b0e0d0c0e121e1412111112251b1c161e2c272e2e2b272b 2a3137463b313442342a2b3d533e42484a4e4f4e2f3b565c554c5b464 d4e4bffdb0043010d0e0e121012241414244b322b324b4b4b4b4b4b4b 4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b4b 4b4b4b4b4b4b4b4b4b4b4b4b4b4b4bffc0001108003f002d0301220002 1101031101ffc4001f0000010501010101010100000000000000000102 030405060708090a0bffc400b51000020103030204030505040400000 17d01020300041105122131410613516107227114328191a1082342b 1c11552d1f02433627282090a161718191a25262728292a3435363738 393a434445464748494a535455565758595a636465666768696a7374
75767778797a838485868788898a92939495969798999aa2a3a4a5a6 a7a8a9aab2b3b4b5b6b7b8b9bac2c3c4c5c6c7c8c9cad2d3d4d5d6d7d8 d9dae1e2e3e4e5e6e7e8e9eaf1f2f3f4f5f6f7f8f9faffc4001f0100030101 010101010101010000000000000102030405060708090a0bffc400b51 10002010204040304070504040001027700010203110405213106124 1510761711322328108144291a1b1c109233352f0156272d10a162434 e125f11718191a262728292a35363738393a434445464748 following four forces: as some interesting lessons in management and Force of Market leadership. These symbols also provide us Force of State/ Government s o m e n e w m o d e l s a n d
c o n c e p t s o f F o r c e o f P e o p l e / C o m m u
n i t y m a n a g e m e n t w i t h r o o t s i n I n d i a n t h o u g h t .
different spokes of the chakra represent indicated that in general, 'India' represents the various view point s or perspectives . In this philosophy of innerlamp. Essence of Indian interpretatio n, Chakra captures the essence of Management also lies in lighting the inner 'syadvad'/'an ekantavad' philosophy of Jainism. lamp and thereby connecting oneself with the 'Truth is one; it has many manifestatio ns' 'light in my heart'. These symbols of spirituality providing us Force of Self (Spiritual self)/ Spirituality declared
Upanishad. When viewed in the Management implication of these concepts some lessons in management and leadership Four lions symbol is a
national symbol of India context of 'Chakra as Omega circle', it implies implies that Corporate Managers should bring
elow: t h a t o n e c a n s e e i n a l l G o v e r n m
e n t b u i l d i n g s . T h e f o u r l i o n s s y m b
o l i s m i m p l i e s a ' p a r i k r a m a ' / 3
6 0 d e g r e e v i e w o f r e a l i t y . t h e i n n e r l i
g h t i n t o p l a y n o t o n l y i n t h e i r i n t e r M a n a g e
r i a l i m p l i c a t i o n o f C h a k r a s y m b o l i
s m p e r s o n a l r e l a t i o n s h i p s b u t a l s o i n d e c i s i o
n a n d t h e r e b y ' O m e g a c i r c l e a p p r o a c
h ' i m p l i e s m a k i n g . L e t t h e w o r k p l a c e s b e
l i g h t e n e d u p b y 1. Management Lesson from Indian Flag representation of four forces of 'Holistic that managers should take a holistic inner-lamp. This will create spiritual synergy Indian flag is not only a flag of Globalization' by four lions viz. Lion of ffd8ffe000104a4649460001020 1 0 0 9 0 0 0 9 0 0 0 0 0f fe 2 0c 5 8 4 9 4 3 4 3
5f 5 0 5 2 4f 4 6 4 9 4c 4 5 0 0 0 1 0 1 0 0 0 0 0c 4 8 4c 6 9 6e 6f 0 2 1 0 0 0 0 0 6 d 6e 7 4 7 2
5 2 4 7 4 2 2 0 5 8 5 9 5a 2 0 0 7c e0 0 0 2 0 0 0 9 0 0 0 6 0 0 3 1 0 0 0 0 6 1 6 3 7 3 7 0 4
d 5 3 4 6 5 4 0 0 0 0 0 0 0 0 4 9 4 5 4 3 2 0 7 3 5 2 4 7 4 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0f 6 d 6 0 0 0 1 0 0 0 0 0 0 0 0 d 3 2 d 4 8 5 0 2 0 2 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 6 3
7 0 7 2 7 4 0 0 0 0 0 1 5 0 0 0 0 0 0 0 3 3 6 4 6 5 7 3 6 3 0 0 0 0 0 1 8 4 0 0 0 0 0 0 6c 7
7 7 4 7 0 7 4 0 0 0 0 0 1f 0 0 0 0 0 0 0 1 4 6 2 6 b 7 0 7 4 0 0 0 0 0 2 0 4 0 0 0 0 0 0 1 4
7 2 5 8 5 9 5a 0 0 0 0 0 2 1 8 0 0 0 0 0 0 1 4 6 7 5 8 5 9 5a 0 0 0 0 0 2 2c 0 0 0 0 0 0 1 4 6
2 5 8 5 9 5a 0 0 0 0 0 2 4 0 0 0 0 0 0 0 1 4 6 4 6 d 6e 6 4 0 0 0 0 0 2 5 4 0 0 0 0 0 0 7 0 6
4 6 d 6 4 6 4 0 0 0 0 0 2c 4 0 0 0 0 0 0 8 8 7 6 7 5 6 5 6 4 0 0 0 0 0 3 4c 0 0 0 0 0 0 8 6 7
6 6 9 6 5 7 7 0 0 0 0 0 3 d 4 0 0 0 0 0 0 2 4 6c 7 5 6 d 6 9 0 0 0 0 0 3f 8 0 0 0 0 0 0 1 4 6
d 6 5 6 1 7 3 0 0 0 0 0 4 0c 0 0 0 0 0 0 2 4 7 4 6 5 6 3 6 8 0 0 0 0 0 4 3 0 0 0 0 0 0 0 0c 7
2 5 4 5 2 4 3 0 0 0 0 0 4 3c 0 0 0 0 0 8 0c 6 7 5 4 5 2 4 3 0 0 0 0 0 4 3c 0 0 0 0 0 8 0c 6 2 5
4 5 2 4 3 0 0 0 0 0 4 3c 0 0 0 0 0 8 0c 7 4 6 5 7 8 7 4 0 0 0 0 0 0 0 0 4 3 6f 7 0 7 9 7 2 6 9
6 7 6 8 7 4 2 0 2 8 6 3 2 9 2 0 3 1 3 9 3 9 3 8 2 0 4 8 6 5 7 7 6c 6 5 7 4 7 4 2 d 5 0 6 1 6
3 6 b 6 1 7 2 6 4 2 0 4 3 6f 6 d 7 0 6 1 6e 7 9 0 0 0 0 6 4 6 5 7 3 6 3 0 0 0 0 0 0 0 0 0 0 0
0 0 0 1 2 7 3 5 2 4 7 4 2 2 0 4 9 4 5 4 3 3 6 3 1 3 9 3 6 3 6 2 d 3 2 2e 3 1 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 7 3 5 2 4 7 4 2 2 0 4 9 4 5 4 3 3 6 3 1 3 9 3 6 3 6 2 d 3 2
2e 3 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 p er sp ec tiv e to pr o bl e m so lvi n g an d at th e w or kp la ce s. l i b e r a t i o n r e p r e s e n t i n g Market, Lion of State, Lion of Community and liberation from colonialism Lion of Self. In general we tend to see only
but also a flag of three energies three lions. The fourth lion viz. lion viz. Physical, Mental and representing Self is hidden from our view. A s la m p is a m et ap ho r of kn o wl ed ge its de ve lo p m en t of sh ar ed vi si on . lig
ht re pr es en ts th e 'li gh t of kn o wl ed ge ' (l ok ). 4. M a n a g e m e n t L e s s o n f
r o m L o t u s T h u s , l i g h t i n g o f t h e l a m p i m p l i e s
t r a n s p o r t i n g L o t u s i s a s y m b o l o f ' S e l f e v o l u
t i o n ' o u r m i n d t o t h e r e a l m o f ' l o k a ' ( l i g h t o
f k n o w l e d g e a n d a w a k e n i n g ) . I n t h i s
i n t e r p r e t a t i o n , l o k / l o k a r e p r e s e n t s t h e h i g h e r
l e v e l o f c o n s c i o u s n e s s . P e r h a p s b e c a u s e o f t h
i s r e a s o n , l a m p h a s b e e n u s e d a s a s y m b o l o f m
e d i t a t i o n i n m a n y m e d i t a t i o n t r a d i t i o n s . O n e c
a n a l s o s e e t h e s y m b o l o f i n f i n i t y i n t h e d i a g
r a m o f ' d i y a ' p r e s e n t e d a b o v e . H e n c e , t h e l i g h
t o f t h e l a m p i s a l s o t h e l i g h t o f i n f i n i t y s p
r e a d i n g i n a l l d i r e c t i o n s . W h e n c o r p o r a t e m a n a
g e r s l o o k a t t h e p r o b l e m s a n d i s s u e s f r o m a h i
g h e r l e v e l o f c o n s c i o u s n e s s , t h e y a r r i v e a t n e
w a n d c r e a t i v e s o l u t i o n s t o t h e p r o b l e m s . T h u s
, s y m b o l i s m o f l a m p h a s a n i n t e r e s t i n g m e a n i n g
a n d s i g n i f i c a n c e f o r t h e m a n a g e r s a n d l e a d e r s
. 6. Management Lesson from 'Samudra manthan' 'Samudra manthan' Churning of the ocean, is a powerful metaphor from Indian mythology that depicts the dynamics between two opposing forces. In India, it has also found expression in the popular sport of 'rope pulling' by two teams. Managers and leaders have to deal with the 'negative energies' (poison) and they have to learn to deal with them through synergy approach. In essence they have to learn to convert the 'pain points' (problems) in to nirvana points (solutions). This becomes easier if we understand the dynamics of the samudra manthan representing the dynamics of the dialectics that gets manifested through various intensities of the dialectics. To properly deal with the dialectical intensities, managers need to develop 'Mind Balancing Attitude' (MBA), the concept of which has been introduced at the Yoga and Management division of Swami Vivekananda Yoga Ansusandhana Samsthana (SVYASA) University, Bangalore.
7. Management Lessons from Festivals: Indian 'HRD' Festivals
Indian Symbols of Spirituality
In general all festivals symbolize the 'spirit of celebration'. Indian Festivals of Happiness have some interesting management lessons to offer. We can refer to them as Indian 'HRD' Festivals represented by Holi, Rakhi and Diwali. They also represent the essence of Indian Management Philosophy. Following are some key lessons from these festivals for management theory and practice: Holi : Festival of colors - Different colors represent different perspectives leading to holistic approach Rakhi: Festival of Relationships Create good relationship with stakeholders Diwali: Festival of Lights and Wealth- Wealth has divinity inherent in it. Take positive and responsible attitude towards wealth creation represented by the idea of Shubhlabh. Thus, mangers and leaders can learn interesting lessons on Management Thought from these festivals. Similar lessons can be drawn from other festivals also.
Conclusion
Many Indian scholars and practitioners have been searching for the Indian concepts in management. This has taken various routes viz. Replication of Western Model in India and documenting this experience through empirical research. Indian Management concepts find their unfolding from many Indian symbols of spirituality. In fact, spiritual symbols presented in this paper provide us a new way of defining the idea of 'Indian Management'. In the era of 'Holistic Globalization', time has come to globalize these ideas from Indian Management for the benefit of every one. These symbols represent New Mantras in Management and Leadership. Lessons from these spiritual symbols should go from Indians in all directions.
Indian Symbols of Spirituality
References
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The Growth, Challenges Retail Industry in India

Dr. Gangadhar V. Kayande Patil
and
Opportunities
of
Head, Dept. of Defense Budgeting, Finance and Management BYK College of Commerce, Nashik, Maharastra
Retail is India's largest Industry. It accounts for over 10 per cent of the India's GDP and around 8per cent of the employment. Retail sector is one of India's fastest growing sectors with a 5 per cent compounded annual growth rate.India's huge middle class base and its untapped retail industry are the key attractions for global retail giants planning to enter into newer markets. Driven by changing lifestyle, strong income growth and favorable demographic patterns, Indian retail is expected to grow 25 per cent annually. In India the vast middle class and its almost untapped retail industry are the key attractive forces for global retail giants wanting to enter into newer markets, which in turn will help the India Retail Industry to grow faster. The paper provides detailed information about the growth of retailing industry in India. It examines the growing awareness and brand consciousness among people across different socio-economic classes in India and how the urban and semi-urban retail markets are witnessing significant growth. The 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.
Introduction
The organized retail industry in India had not evolved till the early 1990s. Until then, the industry was dominated by the un-organized sector. It was a sellers market, with a limited number of brands, and little choice available to customers. Lack of trained manpower, tax laws and government regulations all discouraged the growth of organized retailing in India during that period. Lack of consumer awareness and restrictions over entry of foreign players into the sector also contributed to the delay in the growth of organized retailing. Foundation for organized retail in India was laid by Kishore Biyani of Pantaloon Retails India Limited (PRIL). Following Pantaloon's successful venture a host of Indian Business giants such as Reliance, Bharti, Birla and others are now entering into retail sector. A number of factors are driving India's retail market. These include: increase in the young working population, hefty pay-packets, nuclear families in urban areas, increasing working-women population, increase in disposable income and customer aspiration, increase in expenditure for luxury items, and low share of organized retailing. India's retail boom is manifested in sprawling shopping centers, multiplex- malls and huge complexes that offer shopping, entertainment and food all under one roof. The India Retail Industry is the largest among all the industries, accounting for over 10 per cent of the country's GDP and around 8 per cent of the employment. 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 compete with them. The India Retail Industry is gradually inching its way towards becoming the next boom industry. The total concept and idea of shopping has undergone an attention drawing change in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. Modern retailing has entered into the Retail market in India as is observed in the form of bustling shopping centers, multi-storied malls and the huge complexes that offer shopping, entertainment and food all under one roof. A large young working population with median age of 24 years,
Retail Industry in India
nuclear families in urban areas, along with increasing workingwomen population and emerging opportunities in the services sector are going to be the key factors in the growth of the organized Retail sector in India. The growth pattern in organized retailing and in the consumption made by the Indian population will follow a rising graph helping the newer businessmen to enter the India Retail Industry.
Retail Market in India
India is the country having the most unorganized retail market. Traditionally it is a family's livelihood, with their shop in the front and house at the back, while they run the retail business. More than 99% retailer's function in less than 500 square feet of shopping space. Global retail consultants KSA Technopak have estimated that organized retailing in India is expected to touch Rs 35,000 crore in the year 2005-06. The Indian retail sector is estimated at around Rs 900,000 crore, of which the organized sector accounts for a mere 2 per cent indicating a huge potential market opportunity that is lying in the waiting for the consumer-savvy organized retailer. Purchasing power of Indian urban c o n s u m e r i s g r o w i n g a n d b r a n d e d merchandise in categories like Apparels, Cosmetics, Shoes, Watches, Beverages, Food and even Jewellery, are slowly becoming lifestyle products that are widely accepted by the urban Indian consumer. Indian retailers need to advantage of this growth and aiming to grow, diversify and introduce new formats have to pay more attention to the brand building process. The emphasis here is on retail as a brand rather than retailers selling brands. The focus should be on branding the retail business itself. In their preparation to face fierce competitive pressure, Indian retailers must come to recognize the value of building their own stores as brands to reinforce their marketing positioning, to communicate quality as well as value for money. Sustainable competitive advantage will be dependent on translating core values combining products, image and reputation into a coherent retail brand strategy.
Retail Market Strategies and Trends
Retailing in India is gradually inching its way toward becoming the next boom industry. The whole concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. Modern retail has entered India as seen in sprawling shopping centres, multi-storied malls and huge complexes offer shopping, entertainment and food all under one roof. The Indian retailing sector is at an inflexion point where the growth of organized retailing and growth in the consumption by the Indian population is going to take a higher growth trajectory. The 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 workingwomen population and emerging opportunities in the services sector are going to be the key growth drivers of the organized retail sector in India.
Growth of Retail Market in India
Retail and real estate are the two booming sectors of India in the present times. And if industry experts are to be believed, the prospects of both the sectors are mutually dependent on each other. Retail, one of India's largest industries, has presently emerged as one of the most dynamic and fast paced industries of our times with several players entering the market. Accounting for over 10 per cent of the country's GDP and around eight per cent of the employment retailing in India is gradually inching its way toward becoming the next boom industry. As the contemporary retail sector in India is reflected in sprawling shopping centers, multiplex- malls and huge complexes offer shopping, entertainment and food all under one roof, the concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. This has also contributed to largescale investments in the real estate sector with major national and global players investing in developing the infrastructure and construction shopping malls, with 139 malls in metros and of the retailing business. The trends that are the remaining 81 in the Tier II cities. The driving the growth of the retail sector in India government of states like Delhi and National are Capital Region (NCR) are very upbeat about Low share of organized retailing permitting the use of land for commercial Falling real estate prices development thus increasing the availability Increase in disposable income and of land for retail space; thus making NCR customer aspiration render to 50% of the malls in India.
ffd8ffe000104a464946000 10201009000900000ffe20 c584943435f50524f46494 c4500010100000c484c696 e6f021000006d6e7472524 7422058595a2007ce0002 000900060031000061637 3704d5346540000000049 454320735247420000000 000000000000000000000f 6d6000100000000d32d48 502020000000000000000 000000000000000000000 000000000000000000000 000000000000000000000 000000000000000011637 072740000015000000033 646573630000018400000 06c77747074000001f0000 00014626b707400000204 000000147258595a00000 218000000146758595a00 00022c000000146258595 a0000024000000014646d 6e6400000254000000706 46d6464000002c4000000 88767565640000034c000 0008676696577000003d4 000000246c756d6900000 3f8000000146d656173000 0040c0000002474656368 000004300000000c72545 2430000043c0000080c675 452430000043c0000080c6 25452430000043c000008 0c7465787400000000436f 707972696768742028632 92031393938204865776c 6574742d5061636b61726 420436f6d70616e7900006 465736300000000000000 127352474220494543363 13936362d322e31000000 000000000000000012735 247422049454336313936 362d322e3100000000000 000000000000000000000 000000000000000000000 0 Increase in
expenditure for luxury items (CHART) Commission left over at the season. The product category 1980s experienced slow change as India can range from a variety of perishable/ non-began to open up economy. perishable goods. Textiles sector with companies like Department Stores:Large
stores ranging Bombay Dyeing, Raymond's, S Kumar's from 2000050000 sq. ft, catering to a variety and Grasim first saw the emergence of of consumer needs. Further classified into retail chains localized departments such as clothing, toys, Later Titan successfully created an home, groceries, etc. Departmental Stores are o rg a n i z e d retailingc onceptan d expected to take over the apparel business established a series of showrooms for its from exclusive brand showrooms. Among premium watches these, the biggest success is K Raheja's The latter half of the 1990s saw a fresh Shoppers Stop, which started in Mumbai
and wave of entrants with a shift from now has more than seven large stores (over Manufactures to Pure Retailers. 30,000 sq. ft) across India in store For e.g. Food World, Subhiksha and brand for clothes called Stop. Hyper marts/Supermarkets:Large self-Nilgiris in food and FMCG; Planet M and service outlets, catering to varied shopper Music World in music; Crossword and needs are termed as Supermarkets. These are Fountainhead in books. located in or near residential high streets. Post 1995 onwards saw an emergence of These stores today contribute to 30% of all shopping centers food & grocery organized retail sales. Super Fig. 2 Mainly in urban areas, with facilities like Markets can further be classified in to Fig. 1 mini car parking supermarkets typically 1,000 sq ft to 2,000 sq India is being seen as a potential goldmine Targeted to provide a complete destination ft and large supermarkets ranging from of Another credible factor in the prospects of for retail investors from over the world and experience for all segments of society 3,500 sq ft to 5,000 sq ft. having a strong focus Emergenc e of hyper and super markets on food & grocery and personal sales. the retail sector in India is the increase in the latest research has rated India as the top trying to provide customer with 3 V's -young working population. In and even has its own
India, hefty pay destination for retailers for an attractive packets, nuclear families in urban areas, along emerging retail market. India's vast middle Value, Variety and Volume Recent Trends of Marketing
with increasing working-women class population and its almost untapped retail industry Expanding target consumer segment: The Retailing in India is witnessing a huge
Sachet revolution - example of reaching to revamping exercise as can be seen in the the wanting to bottom of the pyramid. graphsector. These key factors have been the growth enter newer markets. Even though
e At year end of 2000 the size of the Indian w h i c h n o w b o a s t o f r e t a i l i n g a l m o s t a l l t h e c o u n t
r y s o r e l y l a c k s a n y t h i n g t h a t c a n
p r e f e r
e n c e s o f l i f e A p p a r e l & A c c e s s o r i e s , r e
s e m b l e a r e t a i l i n g i n d u s t r y i n t h e m o d e r n
India is rated the fifth most attractive organized retail industry is estimated at emerging retail market: a potential Rs. 13,000 crore
goldmine. Appliances, Electronics, Cosmetics and sense of the term. This presents international retailing specialists with a great opportunity. Toiletries, Home & Office Products, Travel Estimated to be US$ 200 billion, of which The and Leisure and many more. With this the organized retail sector is expected to grow organized retailing (i.e. modern trade) retail sector in India is witnessing rejuvenation stronger than GDP growth in the next five years as traditional markets make way for new driven by changing lifestyles, Malls: The largest form of organized makes up 3 percent or US$ 6.4 billion retailing today. Located mainly in metro cities, As per a report by KPMG the annual in proximity to urban outskirts. Ranges from growth of department stores is estimated at formats such as departmental burge stores, oninginco meandfav orable 6 0,000 sq ft to 7,00,000 sq ft and above. They hypermarkets, demographic outline. supermarkets and specialty lend an 24% ideal shopping experience with an
Different Types of Retailing
Ranked second i stores. The retailing configuration in India is fast Market Industry Development developing as shopping malls are increasingly The emergence of the neighborhood becoming familiar in large cities. When it 'Kirana' stores catering to the convenience comes to development of retail space specially of the consumers the malls, the Tier II cities are no longer behind Era of government support for rural retail: in the race. If
development plans till 2007 is Indigenous franchise model of store studied it shows the projection of 220 chains run by Khadi & Village Industries amalgamation of product, service and Development Index of 30 developingente rtainment, all under a common roof. countries drawn up by AT Kearney. Examples include Shoppers Stop, Piramyd, Multiple drivers leading to a consumption and Pantaloon. boom: Discount Stores: As the name suggests,
v
Favorable demographics discount stores or factory outlets, offer

v Growth in income discounts on the MRP through selling in bulk v Increasing population of women
reaching economies of scale or excess stock

v Raising aspirations: Value added goods sales Food and apparel retailing
key drivers of growth Organized retailing in India has been largely an urban Phenomenon with affluent classes and growing number of double-income households. More successful in cities in the south and west of India. Reasons range from differences in consumer buying behavior to cost of real estate and taxation laws. Rural markets emerging as a huge opportunity for retailers reflected in the share of
the rural market across most categories of consumption v ITC is experimenting with retailing through its e-Choupal and Choupal Sagar rural hypermarkets. v HLL is using its Project Shakti initiative leveraging women self-help groups to explore the rural market. v Mahamaza is leveraging technology and network marketing concepts to act as an aggregator and serve the rural markets. IT is a tool that has been used by retailers ranging from Amazon.com to eBay to radically change buying behavior across the globe. 'E-tailing' slowly making its presence felt.
Challenges & Opportunities

Retailing has seen such a transformation over the past decade that its very definition has undergone a sea change. No longer can a manufacturer rely on sales to take place by ensuring mere availability of his product. Today, retailing is about so much more than mere merchandising. It's about casting customers in a story, reflecting their desires and aspirations, and forging long-lasting relationships. As the Indian consumer evolves they expects more and more at each and every time when they steps into a store. Retail today has changed from selling a product or a service to selling a hope, an aspiration and above all an experience that a consumer would like to
repeat. For manufacturers and service providers the emerging opportunities in urban markets seem to lie in capturing and delivering better value to the customers through retail. For instance, in Chennai CavinKare's LimeLite, Marico's Kaya Skin Clinic and Apollo Hospital's Apollo Pharmacies are examples, to name a few, where manufacturers/service providers combine their own manufactured products and services with those of others to generate value hitherto unknown. The last mile connect seems to be increasingly lively and experiential. Also, manufacturers and service providers face an exploding rural market yet only marginally tapped due to difficulties in rural retailing. Only innovative concepts and models may survive the test of t i m e a n d i n v e s t m e n t s . H o w e v e r , manufacturers and service providers will also increasingly face a host of specialist retailers, who are characterized by use of modern management techniques, backed with seemingly unlimited financial resources. Organized retail appears inevitable. Retailing in India is currently estimated to be a US$ 200 billion industry, of which organized retailing makes up a paltry 3 percent or US$ 6.4 billion. By 2010, organized retail is projected to reach US$ 23 billion. For retail industry in India, things have never looked better.Challenges to the manufacturers and service providers would abound when market power shifts to organized retail.
Conclusion
We believe that technology has a crucial role to play in addressing the above challenges. With the advent of Internet Protocol (IP), the proliferation of broadband and the continuing convergence of IT and communications, there is a huge opportunity for retailers to exploit technology to improve in-store and back-office performance. The retail sector has played a phenomenal role throu g h o u t t h e wor ld in i n cr ea sing productivity of consumer goods and services. It is also the second largest industry in US in terms of numbers of employees and
establishments. There is no denying the fact most dynamic and fast paced industries with that most of the developed economies are very several players entering the market. But all of much relying on their retail sector as a them have not yet tasted success because of
the locomotive of growth. heavy initial investments that are required to The India Retail Industry is the largest break even with other companies and compete among all the industries, accounting for over with them. The India Retail Industry is 10 per cent of the country's GDP and around 8 gradually inching its way towards becoming per cent of the employment. The Retail the next boom industry. Industry in India has come forth as one of the
References
Bondre A. & Pinjarkar S.N., Marketing Management-I, YCMOU, Nashik. Bose B.S.,Handbook of marketing Management,Himalaya Publishing House, New Delhi. Sontakki C.N., Marketing Management, Kalyani Publishers, New Delhi Stanton W.J., Etzel M.J. & Walker B.J., Fundamentals of Marketing,McGraw Hill,
Punlications, New Delhi. ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000ISSN : 0976-4712
Innovation, Non-Expertise and Inabilities of Developing Countries in E-Banking and ECommerce

Dr.V. K Saxena and Mr. Kehar Singh
Madurai Kamraj University, Madurai, Tamil Nadu Web based e-banking is becoming an important aspect of worldwide commerce. Most of the information technology literature focuses on developed countries. Less attention has been paid to I.T. in developing countries. The developing countries are behind the developed countries in e-banking and commerce due to differences in national cultures also. The consumes in developing countries including India perceive e-banking to have less relative advantage, to be less easy to use, to be less compatible, to be lower in result demonstrability, to be more image enhancing and less trustworthy than do American consumers. This hypothesis has been verified and tested in this research paper.
Introduction
their views of e-banking. Web based e-banking is becoming an We explore this question using diffusion of important aspect of worldwide commerce. innovation framework to compare consumer The United Nations predicts 17% of purchases attitudes towards e-banking in the United by firms and individuals will be conducted States and India. The USA is rated as the one of online by 2006. During the 2003 holiday the most e-business-ready countries in the season alone, American consumers spent US $ world (Economist Intelligence Unit 2003) and 18.5 billion online. While the future of Web-enjoys a large consumer economy, relative based e-banking in developed areas appears wealth, and high Internet and personal bright, consumers in developing countries, computer penetration rates. Which combine to such as India face a number of obstacles that make an ideal consumer e-commerce may impact their view of e-banking. environment? India makes an interesting Consumers and merchants in developing contrast. Even though India is rated as one of countries face in number of barriers to the low-income economics by the World successful e-banking, including less reliable Bank, India's software and services export is telecommunications infrastructure and power more than US $ 6.4 billion, employing about supplies, less access to online payment 415,000 software professionals in more than mechanisms, and relatively high costs for 900 firms. Further, there are signs that the personal computers and Internet access. These environment f or e-busine ss may be problems may cause consumers in developing improving. With more than a billion people, countries to view e-commerce differently than India is a potentially huge market for consumers in developed countries. How consumer e-banking and e-commerce. should managers in charge of e-banking prepare for global implementation? What can Differences in National Cultures they do reach consumers in developing Difference in dimensions of national countries ? What factors influence the cultures may help explain differences in adoption of consumer-oriented e-banking in perception and adoption of information various countries? These concepts are technologies identified five dimensions of captured in the general research question that national culture. Power distance, uncertainly guided this study: How do consumers in avoidance, individualism v/s. collectivism, developed and developing countries differ in masculinity v/s. femininity, and long-term v/s.
E-Banking and E-Commerce in Developing Countries
short-term orientation. Table 1 provides Diffusion of Innovation theory definitions and index scores for the five Diffusion of innovation (DOI) theory is dimension of culture for India and the USA. It concerned with the manner in which also present ranking of each country as innovations spread through social systemcompared to the 58 countries evaluate by (Rogers, 1995). Much of the DOI Hofstede, except for long-term orientation, examination, how adopter's research perceptions of the which is based on 23 countries. Power characteristics of an innovation, impact distance, individualism, and long-term adoption decisions, IT innovations have been orientation show particularly large difference studied using this perspective. between India and USA.
Table 1. Hofstedes dimensions of culture for India and the USA

Dimension Power Distance Individualis m Definition Extent to which those with less power in the organizations of a country expect and accept unequal power distribution. Degree to which a culture reinforces individual achievement and relathioships Degree to which uncertain situations make members of a culture feel threatened Degree to which distinct social gender roles characterize cultures Extent to which a culture believes in a stable society based on family, and where virtuous behaviour is expected. Score Rank Score Rank Score Rank Score Rank Score India 77 10/1 1 48 21 40 45 56 20/2 1 61 USA 40 38 91 1 46 43 62 15 29 5 2 20* 28* Differen ce
Uncertainty Avoidance Masculimit y
Long-Term Orientation **
Rank
17
10*
* Major difference between the two countries relative to all counties evaluated by Hofstede.
There innovation characteristics perceived the Web merchant, has been researched with r e l a t i v e a d v a n t a g e , c o m p l e x i t y a n d respect to online purchasing intentions compatibility, receive the most consistent (Belanger, Hiller, & Smith, 2002; Jarvenpaa, empirical support (Rogers, 1995; Tornatzky & Tractinsky, & Vitale, 2000; Van slyke et. al., Klein, 1982). So that all of the perceived 2004) Internet shopping has substantially innovation characteristics included in this more risks than traditional shopping, since the study have a positive relationship with merchant and consumer are not co-located. adoption, we examine the conceptual opposite The effect of trustworthiness on use intentions of complexity, which is case of use (Moore & appears to hold across nationalities (Jarvenpaa Benbasat, 1991). Additional innovation et al. 2000). Table-2 presents the definitions of characteristics researched include result the innovation characteristics and the concept advantages, ease to use, compatibility, image of trustworthiness. and result demonstrability are believe to have positive relationship with adoption. An additional perception, the trustworthiness of
77
E-Banking and E-Commerce in Developing Countries E-Banking and ECommerce in Developing Countries
ovation characteristics and concept trustworthiness : banking to be more compatible than Indian
Characteristic Definition
Indian consumers perceive e-banking

Hypotheses Indians Vs
Relative Advantage Complexity (case of use) Compatibility
Degree to which an innovation is seen as being superior to its predecessor Degree to which an innovation is seen as being relatively difficult to use and understand Degree to which an innovation is seen as being consistent with existing beliefs, experiences & needs Degree to which the outcomes of using in innovation are apparent
American Indians will perceive ebanking as providing less relative advantage. Indians will perceive ebanking as being more complex. Indians will perceive ebanking being less compatible.
Result Demonstrabilit y Image
Indians will perceive ecommerce as providing less result demonstrability
Degree of which the use to the innovation is seen as chancing to an individuals image or social status. Degree to which consumers have confidence in the electronic marketers reliability and integrity.
Indians will perceive ebanking as being more image chancing.
Trustworthines s
Indians will perceive Web merchants to be less trustworthy.
Hypotheses for Innovation

represent more of
Web-based shopping may an
Characteristics of Interest
advantage for consumers in the USA. Indian consumers perceive e-banking Indian consumers perceive e-banking to to be less easy to use than do American
consumers-Several factors suggest use, to be less compatible, to be lower in result Indian consumers will perceive e-banking demonstrability, to be more image enhancing easy to use than their American to be less and less trustworthy than do American counter parts. First the relative unreliability of the consumers. ! translates into more difficulty in completing Indian consumers perceive e-banking to online shopping tasks. The lower use of have less relative advantages than do credit cards in India may also make WebAmerican consumers. based shopping seem more complex. If a consumer Local conditions in India may lead does not posses a credit card, or if a merchant consumers to view Web-based shopping being less advantage than American consumers. The of payment cannot accept credit care payments electronically, some other method telecommunications infrastructure in India
have less relative advantages, to be less easy to
convenience of shopping at home is often
must be arranged, which may lead to touted a major benefit of e-banking and edecreased perception of ease of use. National commerce. The lower personal computer culture differences may also lead to difference penetration rate in India may lead many Indian in consumers perceived ease of use. Communication to have to travel to a public access media that do facility to engage in not allow for face-to-face Web-based shopping. interaction make it difficult This reduces the convenience of Webfor users in based collectivist cultures to discern cues shopping, which may be reflected in regarding lower the social situation that is occurring. As a perception of relative advantage. The result, relatively consumers in India, which is more impersonal nature of Web-based collectivist than the USA, may perceive online shopping may be viewed as a disadvantage in shopping to be less collectivist cultures such as India. easy to use. Finally, it
! Indian consumers perceive

has been empirically be less compatible than do consumers in collectivist cultures are
e-banking to
demonstrated that American less
consumers-A number of factors lead us to innovative than those in individualistic believe American consumers will perceive eculture. Therefore, the relative newness of Vol.2. No.3. July-Sept. 2011 SHARE Journal of Multidisciplinary Research & Studies consumers. First online shopping is, in large to be less trustworthy than American part, a solitary activity, which may be at odds consumers-Trust is an important factor in with consumers in the more collectivist culture determining consumers' intent to use e-of India. Second, American consumers are commerce and e-banking (Belanger et. al.. more used to engaging in distant shopping 2002, Jarvenpaa & Tractinksy, 1999; Van such as catalog shopping, which has been a slyke et al.. 2004). If individuals in different fixture in the USA for many decades. countries have different levels of trust, they Americans may also find credit cards to be may have different propensities to engage in e-more compatible with their experiences. commerce. It has been proposed that ! Indian consumers perceive e-banking individuals in more collectivist countries are to be
lower in result demonstrability than less trusting than those in more individualistic do American consumers-The perceived countries (Jarvenpaa & Tractinsky, 1999), result demonstrability of e-banking and e-which should be reflected in consumers' commerce should be higher in the USA than in attitudes towards Web merchants. In addition, India since Internet use is much more since Web shopping has been available for a prevalent in the USA. In 2000, there were long time in the USA relative of India, more more than 589 Internet user per 1,000 experienced American users may have fewer population in USA, as opposed to 5.1 per apprehensions towards dealing with Web 1,000 in India. Since the use of the Internet is merchants. much more common in the USA. The result of ecommerce should be more apparent there. Methodology, Data Analysis and
Indian consumers perceive e-banking
Results
to be more image enhancing than American consumers-Differences in Internet and The sample demographics from the two countries are presented in Table 3. personal computer penetration in the two Analysis of variance tests indicate that there are nocountries also leads us to believe that Indian significant (p < 0.05) difference in age consumers will find e-banking to be more work image enhancing. The higher levels of experience, or access to a computer Internet through and personal computer use in the USA which to make purchases. There are may lead to significant e-commerce and e-banking being more differences in terms of year of computer experience, level of Web use, common place and thus less image enhancing. credit card access, and prior Web purchasing and gender distribution. Table 3: Sample Characteristic
India Sample Size (usable) Age (mean) Years Work Experience (mean) Years Computer Use (mean) Hours per Week Using Web Percentage with Computer Access Percentage with Credit Card Assess Prior Web Purchase Gender ** F 104 23.88 1.69 6.7 13.45 99 75 22 18
USA 131 23.06 2.49 8.9 17.23 98 95 90 62
Total 235 23.42 2.13 7.93 15.14 98.3 86.4 60 80
ANOVA Pvalue* <0.064 <0.127 <0.001 <0.011 <0.436 <0.001 <0.001 <0.001
85
69
154
To test our hypotheses, multivariate analysis of covariance (Mancova) was performed, Power analysis indicated power exceeding 0.80. The means and standard deviations of the scales were computed for each sample is presented in Table-4. These means were than used as dependent variable in the MANCOVA, while consumer nationality was included as the independent variable. Sample characteristics that differed significantly between the two groups were included covariates.
TABLE 4 : Descriptive Statistics of MANCOVA dependent variables Scale India Mean Standard Deviatio n 1.0042 0.9224 1.1368 0.8556 1.0641 1.3583 U.S.A . Mean
Relative Advantage Ease of Use Compatibility Result Demonstrability Image Trustworthiness
4.1715 4.9029 3.4693 5.1505 2.877 4.3155
4.851 2 5.456 9 4.406 4 5.426 9 3.609 0 3.855 8
Standa rd Deviati on 1.1934 0.9175 1.4721 0.8555 1.3117 0.8859
TABLE 5 : Results from MANCOVA analysis

Hypo t hesis 1 2 3 4 5 6 Perception Mean Sq. 20358 6.899 30.170 0.832 20.883 4.544 F Signif i canc e <0.0 01 0.006 0.011 0.625 <0.0 01 0.086
Relative Advantage Ease of Use Compatibility Result Demonstrability Image Trustworthiness
17.65 7 8.805 19.06 0 1.197 14.71 4 3.382
Discussion
o f t h e u s e . A r e l a t i v e l y w e a k I n t e r e s t i n g l y, f e w s t u d i e s h a v e telecommunications infrastructure may also investigated the difference in perceptions of explain Indian consumer's lower perception of consumers across different cultures although relative advantage. Less experience with
there are exceptions. This study's results shopping at a distance may also help account indicate that perceptions of American and for Indian lower perceptions of compatibility Indian consumers differed significantly in the and ease to use, as may lower credits card use. ease of relative advantage, ease of use, In addition, lower credit card use may make compatibility and image.Differences in local paying for e-commerce & e-banking conditions provide some explanation for these transaction more complex and less
convenient findings. The lower person computer which would lower perceived ease of use and penetration rate in India may account for lower relative advantage, respectively. perceptions of relative advantage, ease of use Americans have significantly higher and compatibility. Less convenient and more perceptions of the image enhancing value of expensive Internet access may similarly Web-based shopping than Indians which is impact these perceptions. Lower access of PCs contrary to our expectations. The over all and the Internet not only make online lower penetration rates of computers and shopping less convenient, lowering relative Internet access in India offer a potential advantage and ease of use; they may also lead explanation. American consumers might to less expenses with these technologies of e-except that it is normal for consumers to have banking may further lower perceptions of ease access to Web shopping and the Web shopping
should be part of everyday life In this situation, not having Web-shopping might be perceived by American consumers as decreasing someone's image. In contrast, Indian consumers may not see Web shopping as image enhancing, but rather as an expensive activity that is secondary to other priorities. Further, it is possible that in the more collectivist Indian culture, engaging in a solitary activity such as online shopping may be seen is decreasing one's image. Contrary to our hypotheses, there are no significant difference in the Indian and American consumers perception of the result demonstrability of Web-based shopping and trustworthiness of Web merchants. The lower personal computer ownership rate in India may lead to Web use being a more public activity in India than in the USA, which may increase perceived result demonstrability. For trustworthiness, potential explanations could be found in the increasingly publicized attacks and security problems worldwide. This may raise the awareness of the importance of trustworthiness globally.
Analysis: Effects on e-banking user intentions
O u r o r i g i n a l q u e s t i o n f o c u s e d o n understanding how differences in local conditions and dimension of national culture led to differences in perceptions of innovation characteristics. How ever, once these difference were identified, we decided to explore whether these perception impact e-banking user intensions similarly across the two countries. We used multiple regression analysis to test the effect of the hypothesized factors on user intentions in both samples. Prior to performing the analyses, we ensured hat the basic assumptions of regression analysis were satisfied. The regression equations included the perceived innovation characteristics and demographic and experiential characteristics as independent variable, and user intention as the dependent variable. The equations were analyzed separately for Indian and American consumers. The results show that for each equation, the independent variable for a sizeable and 2 significant portion of the variance in use intention with adjusted R of 0.527 for the Indian sample and 0.677 for the American sample. In both eases, the F statistics for the regression equation is significant at p<0.001 (F for India = 11.345 and for USA - 25251). Statistics associated with each regression equation are shown in Table 7. Of the four covariates identified as statistically different samples, only prior Web-based purchases was significant in the American sample (p<0.001). For the Indian sample, perceived ease of use, compatibility, result demonstrability and trustworthiness were significantly related to use in intension. Image was border-line non-
significant (p<0.051), and relative advantage, ease of and compatibility were significant. Perceived result demonstrability, image and trustworthiness were not significant. Some preliminary conclusion may be drawn from this exploratory analysis. Firs, the notion of perceptions of the characteristic of an innovation impacting its adoption holds across countries. For both groups, these perception account for a large, significant portion of the variation in use intensions. Second, while the overall importance of perceived innovation characteristics holds across countries, the strength of individual characteristics varies considerably. With the exception of perceived relative advantages, the beta coefficient for each characteristic was greater for the Indian sample. Perceived relative advantage has a greater impact on use intensions for the American sample. While we cannot draw definitive conclusions from this, there are some reasonable explanations for these findings. The stronger impact of p e r c e i v e d e a s e o f u s e t h e r e s u l t demonstrability for the Indian sample may be due to the relatively newness of e-banking and e-commerce in India. There is evidence that p e r c e i v e d e a s e o f u s e a n d r e s u l t demonstrability have greater impacts earlier in the adoption process (Karahanna, Straub, & Chervanny, 1999). Perceived compatibility also has a greater impact on use intentions for
EBankin g and EComm erce in Develo ping Countr ies
TABLE 7 : Regression Coefficients : Beta (std) India Relative Advantage Ease of Use Compatibility Result Demonstrability Image Trustworthiness USA Relative Advantages Ease of Use Compatibility Result Demonstrability Image Trustworthiness 0.268 0.187 0.280 0.113 0.048 0.083 2.989 2.535 2.837 1.626 0.889 1.405 0.003 0.013 0.005 0.107 0.376 0.163 0.022 0.261 0.417 0.254 0.144 0.008 t-value Significan ce 0.817 0.001 0.001 0.004 0.051 0.002
0.232 2.977 4.583 3.364 1.977 3.130
Indian subjects. As noted earlier, much such as those offered by USA credit card common e-banking and e-commerce practices providers. E-commerce vendors in India may is somewhat at odds with Indian norms and not fill this void. At the time of data collection, e x p e r i e n c e . I t m a y b e t h a t t h e s e even large Indian e-auction companies such as incompatibilities represent a barrier to e-Auction India did not have fraud protection
banking and e-commerce adoption, as policies such as those offered by eBay. The evidenced by the greater impact of perceived relative immaturity of enabling technologies compatibility for Indian subjects. may also make trustworthiness more The perceived trustworthiness of Web important in India. Even though the recently merchants has more of an impact on use enacted Indian Information Technology Act intentions for Indian subjects. Given the (IITA) recognizes digital signatures, the limited consumer protection mechanisms in necessary Certification Authorities and Public India, it is not surprising that trustworthiness Key Infrastructure are not well developed in has a greater impact in India. For example, India. Indian consumers do not enjoy liability limits
References
Aggrawal and Prasad (1997), Role of innovation characteristics and perceived voluntariness in the acceptance of Information technology, Decision sciences 28(3), pp 557-582 Belangar, Hiller & Smith(2002), Trustworthiness in Electronics Commerce, Journal of Strategic Information System, 11(3/4), pp 245-270 Dassgupta, Agarwal, Ionnanidis & Gopala Krishnan(1999), Determinant of Information Technology Adoption, A Journal of Global Information Management, 7(3),pp30-39. Edwards and Sridhar (2003), Analysis of the Effectiveness of Global Virtual Teams in Software Engineering Projects, Proceeding Of HICSS conference, Hawaii Hofstede (1980), Culture's Consequences, Beverly Hills, CA : Sage Publications. Jarvenappa et. Al (2000), Consumer's Trust in Internet Store, Information Technology & Managementm,1(1), pp 45-71. Kersten & Kersten and Rakowski (2001), Application Software and Culture, On line Store Rogers (1995), Diffusion of Innovations, New York :The Free Press.
Vol.2. No.3. July-Sept. 2011 SHARE Journal of Multidisciplinary Research & Studies
Social Entrepreneurship Transformation

Dr. Anil Adsule
and
Economic
Principal, St. Vincent College of Commerce, Pune, Maharastra The concept of entrepreneurship as it is understood is generally relative to economic venture for profit making organized operated and undertaken by an individual or group of individuals. The true test of entrepreneurship as it is understood is risk taking for profit making. Entrepreneurial activities are usually associated with open economy, market mechanism and profit making. A new dimension to the concept of entrepreneurship is added in the form of a responsive activity with general betterment of different social segments. Social entrepreneurship is a still risk taking activity where new ventures, business activities and less travelled areas of social economic transformation are taken by the venturist. However the objective is not merely personal gains and increasing individuals capital base. Social entrepreneurship is thus a new concept which adds human dimension to economic change and growth process. Social entrepreneurship is a very important phenomenon in the modern developmental process which has encouraged inclusive growth process. A large no of NGO's and activists have come forward to promote this
concept in the country. The areas and activities are diversified and varied in nature. It encompasses rural development, ecological protection, Pollution control, women empowerment, promotion of tiny enterprises and rural and village industries.The social entrepreneurship are thus becoming role models and path finders for modern India and they are the ideals of growth what are issues and challenges before the social entrepreneurs and how they are interacting with these issues is the subject of this paper. This paper stresses on social economic change brought by social entrepreneurs in India. Keywords : Entrepreneurship, Social Entrepreneurship, Social Transformation, Economic Change, People's Participation, Welfare through development
Introduction
entrepreneurship and their contribution should The term entrepreneurship as we all be viewed in the light of changes they bring in. understand is an act of economic venture for The social entrepreneurs are not only
improving social status and economic undertaking an act of development but they standards.It helps to develop a culture of are also introducing an element of awareness, activism, social development through change and responsive participation to the economic advancement. An entrepreneur in a growth process. It will be unwise to look at true sense is a change agent. He converts odds social entrepreneurship as an agency and into opportunities and opportunities into movement for a particular social cause or profit. Social development is the result of economic empowerment of select section. economic transformation which only T h e r e a r e m a n y f a c e t s o f s o c i a l entrepreneurs can bring in. The perception of entrepreneurship. Social entrepreneurs should society towards economic development only be considered as a force to be reckoned with t h r o u g h r o l e m o d e l s o f e c o n o m i c for total transfer motion and upliftment of development which are provided by good society at large. entrepreneurs. The earlier notion that entrepreneurs work Concept of Social Enterprise purely for profits and self development and The concept of social enterprise refers to not for bringing in social change, need to be economic ventures operated by non-profit altered. The socio economic role of organizations or for profit organizations with social goals. It is a socio economic venture that idea of social enterprise. They have tried to emphasizes on attaining the objectives of provide theoretical foundation to the various social and economic change by achieving issues and ideas related with social financial goals. S. Jayakrishna has defined entrepreneurship. social enterprises 'an independent for Profit enterprise with the social or environmental Discussion values embedded
in the economic activity. It
1. To u n d e r s t a n d w h a t a r e t h e could also be a revenue generating activity implications of social entrepreneurship on within a profit organization, or a for- profit economic transformation in the society. s u b s i d i a
r y o f a n o t f o r p r o f i t o r g a n i z a t i o n . ' S o c i a l e
n t r e p r e n e u r s h i p i s a n e w f o r m o f s o c i o e c o n o m i c a c t i v i s m
. I t i s a c o n s t r u c t i v e
O b j e c t i v e s o f T h e P r e s e n t P
a p e r
w a y o f l o o k i n g a t p r o c e s s o f e c o n o m i c T h e p r e s e n t
p a p e r c o n s i d e r s s o c i a l d e v e l o p m e n t . A s o c i a l e n t r e p r e n e
u r i d e n t i f i e s e n t r e p r e n e u r s h i p a s a p r i n c i p a l a g e n c y o f
w a y s a n d m e a n s o f e c o n o m i c m e a n s f o r s o c i a l t r a n s f o r m a t i
o n . T h e a u t h o r i s o f t h e g e n e r a l u p l i f t m e n t b y d e v e l o p i n
g a p p r o p r i a t e o p i n i o n t h a t s o c i a l e n t r e p r e n e u r s a r e p l a y
i n g t e c h n o l o g y , a p p r o p r i a t e s y s t e m a n d s e c t
i o n s o f s o c i e t y w h o a r e u n a w a r e o f t h e i r c o o p e r a t i o n . T h
e h i d d e n o p p o r t u n i t i e s i n t h e c a p a c i t y , c a n n o t e n c a s h o p
p o r t u n i t i e s o f p r o f i t p a r t i c u l a r t e r r i t o r y c a n n o t b e c o n
v e r t e d i n t o m a k i n g d u e t o l i m i t a t i o n s o f s k i l l s c a p i t a l
a n d p r o f i t s i t u a t i o n s , w i t h o u t h a v i n g a r i g h t c o m p e
t e n c e . H e d e v e l o p s s u i t a b l e p e
r c e p t i o n o f m a r k e t d e m a n d . A s o c i a l i n f r a s t r u c t u r e t o u t
i l i z e l o c a l l y a v a i l a b l e e n t r e p r e n e u r l i n k s o p p o r t u n i t i e s
w i t h d e m a n d . r e s o u r c e s , t a l e n t a n d h i d d e n o p p o r t u n i t i e s
t o A s o c i a l e n t r e p r e n e u r u n d e r s t a n d s l o c a l l y g r o w . a v a i l
a b l e t a l e n t s , s k i l l s , i n d i g e n o u s w i s d o m T h u s a s o c i a l e n
t r e p r e n e u r p l a y s t h e a n d a b i l i t i e s w h i c h c a n b e d e v e l o p e
d t o a t t r a c t d i f f e r e n t r o l e a s a c a t a l y s t s o f s o c i o e c o
n o m i c c u s t o m e r s b y p r o d u c i n g n e w p r o d u c t s a n d c h a n g e . s e
r v i c e s . T h i s l o c a l l y a v a i l a b l e t a l e n t c a n a. Identify opportunitie s for economic also be used to generate confidence for team advancemen t and market developmen t. building for a cause.
b. Esta b lishment o f in stit u tion s fo r Eradication of social evils, learning new infrastructure and info structure. technology and developing solidarity are the c. Cultivating leadership to set vision in areas where social entrepreneurs can create action. wonders. Thus a social entrepreneur can play a the role of catalyst for expediting the process appropriate institution. of social and economic advancement with a This appropriate approach towards usage purpose to be achieved. The present paper has of means is the real taste of social following objectives : entrepreneurship. In normal course an d. Promoting right set of business activities multiple role and builder of basic block of to enhance economic competence. social development. e. Develop local talent to lead, grow and change the society. Conclusion T o u n d e r s t a n d w h a t a r e t h e i m p l i c a t i o n s o f
1.
e n t r e p r e n e u r i s a c h a n g e a g e n t f o r e c o n o m i c s o c i a l e n t r e p r
e n e u r s h i p o n e c o n o m i c a d v a n c e m e n t b u t o f t h e s e l f o r s e l e c
t f e w . B u t t r a n s f o r m a t i o n i n t h e s o c i e t y . a s o c i a l e n t r e p r
e n e u r i s a c h a n g e a g e n t t o n the developing societies in India, Socio 3. To f i n d o u t whatrole social economic transformation is a painful and entrepreneur s play in developing role difficult task. It demands not only resources 1.2. To identify the roles played by social empower the challenged and neglected entrepreneurs in the development of sections of the society. Though the ultimate neglected and socially challenged sections goal of both entrepreneur and social of the society. entrepreneur appear to be development. social change : but also committed leadership. In true sense, A social entrepreneur is not working social entrepreneurs are social leaders who merely for offering meaningful I
opportunities work for a cause of upliftment and to the socially challenged. His principal role transformation. Their thrust is not on just 3. To find out what role social entrepreneurs However the method and ideology of working is to develop right set of leadership models. making profit or building institution but play in the developing role models of is different. He wants to create ideals and role models who creating manpower that can build institutions. social change. Basically the social entrepreneur tries to offer a vision for self development through d e v e l o p t h e b o t t o m s i d e o f p y r a m i d b y
R e v i e w o f L i t e r a t u r e
p r o v i d i n g o p p o r t u n i t y t o a
d v a n c e , a b i l i t y t o
References
A good number of experts have grow and attitude to change. contributed to the theory and practice of social e n t r e p r e n e u r s h i p . M o s t o f
! Charles Leadbeater Social Enterprise and Social Innovation : Strategies for the next ten years.
t h e m h a v e a 2 . T o i d e n t i f y t h e r o l e s p l a y e d b y s o
c i a l p r i n c i p a l o b j e c t i v e o f b r i n g i n g e c o n o m i c e n t r e
p r e n e u r s i n t h e d e v e l o p m e n t o f t r a n s f o r m a t i o n t
h r o u g h s o c i a l a c t i o n . C h a r l e s n e g l e c t e d a n d s o c i a
l l y c h a l l e n g e d s e c t i o n s Source www.charlesleadbeater.net Charles Leadbeater. ! Jayakrishna S - Social Enterprise for Profit, a Cause The ICFAI University Press Hyderabad ! Rory Ridley Duff, Mike Bull and Pam Seonor Understanding Social Enterprise : Theory & leadbeater in his article 'Social enterprise and of the society.
Practice Source www.articletrader.com Rory Ridley Duff, Mike Bull and Pam Seonor transformation of social change that can bring cause. The principal purpose of his economic in by using local resources and talent. activity is not to make profit but to generate According to him social entrepreneurs surplus for expediting growth process. The contribute to social innovation having a great aim of his enterprise is empowerment of the contemporary relevance. S. Jayakrishna neglected through meaningful usage of emphasized on role of social entrepreneurs as opportunities. He stresses more on capacity a change agent for sustainable socio economic building for undertaking economic activities g r o
w t h a n d d e v e l o p m e n t . R o r y R i d l e y D u f f , a n d r i s k
t a k i n g f o r m a c h i e v i n g a g o a l o r s e t M i k e B u l l a n d P
a m S e a n o r h a v e t r i e d t o p u r p o s e o f s o c i a l t r a n s f o r m
a t i o n . H e d e v e l o p s e x p l a i n t h e c o n c e p t u a l f o u n d a t
i o n b e h i n d t h e i n s t i t u t i o n s t h a t c a t e r t h e n e e d s o f d
i f f e r e n t ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000ISSN : 0976-4712
Firewall & Other Network Security Arsenal For Information Security

Yusuf Ali, Rafi Ahmad and Sharad Panwar
Singhania University, Jhunjhunu, Rajasthan Network security is very important for very organization as well as in home computer also. Outsider attacks on private network, VPN and steal most important information or altered its. New security techniques and tools are should be used to protect local networks against intrusion from the Internet. Basically, we need to prevent destruction of data by intruders, maintain the privacy of local information, and prevent unauthorized use of computing resources. Firewall is a device that prevent unauthorized access by unauthentic persons and other software like Antivirus also help to maintain information safe and prevent to alter it. its awareness are important for every one in this visual digital world because every person is part or involved to this digital world and use digital information in different meaner such as for communication, e-banking, e-shopping, egovernance, and social sites and e-learning etc. So it is very necessary to know about the threats of information security and Security and Access Control are becoming more important than ever before. In today world Information is most important rather then money because with the help of information a person earn money, steal information is use against own organization and for personal benefit, some time it use against country
also. Key words: Virus, Trojan, worm, Authorization, integrity, confidentiality. Virtual Private Network, Authentication,
Introduction
resources available to authorized users. Internet Security and Firewalls Effective security achieves these goals. Vulnerability is a weakness that could be When we LAN connect to the Internet through a Firewall and router, an opportunity used to endanger or cause harm to an is created for outsiders to access or disrupt our networks and its information. A NAT router informational asset. A threat is anything (man made or act of nature) that has the potential to C. Reaction Organizations need to develop a plan that identifies the appropriate response to a security breach. The plan should be in writing and should identify who is responsible for what actions and the varying responses and levels of escalation. A c t i o n a g a i n s t t h r e a t s t a k e b y administrator is known as Reaction. In which we take measures that allow recovery of information, even if information is lost or damaged and also take some action in IT act.
Important Factors of Security
Information Security = Confidentiality + Integrity + Availability + Authentication A. Confidentiality This can also be called privacy or secrecy and refers to the protection of information from unauthorized disclosure. Usually achieved either by restricting access to the information or by encrypting the information so that it is not meaningful to unauthorized individuals or entities. Authentication Authorization This can be thought of as accuracy. This ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000
their preventative B. Integrity (Accountably) measures

n o ti
strong are refers to the ability to protected information,
SECURITY
p o te n t i a l data, or transmissions from unauthorized, c r i m i n a l s -s o uncontrolled, or accidental alterations. The term integrity can also be used in reference to provides some protection because by the very cause harm. The greatest threat to computer they go to an systems and their information comes from Prevention nature of the process, the network behind the router is shielded from access by outsiders on easier target. the functioning of a network, system, or humans, through actions that are either malicious or ignorant. When the action is Figure 1 Security Trinity application. the Internet. However, there are methods by which a determined hacker can possibly obtain information about our network or at the least The prevention of unwanted changed in malicious, some motivation or goal is generally behind the attack. For instance, the
B. Detection information. Authorized users are probably Oncepreventativemeasuresare the biggest cause of errors and omissions and the alteration of data. Malicious attackers also disrupt our Internet access. A greater goal could be to disrupt normal business implemented, procedures need to be put in can operations, thereby denying data availability degree of protection is provided by a firewall. place to detect potential problems or security can modify, delete, or corrupt information that and production. Most of the attacks are Many organizations have own private breaches; in the event preventative measures is vital to the correct operation of business functions.becoming more frequent and more damaging,
network like LAN, VPN and rental line. This fail. In this level we take measures that allow and they are using well-known techniques and network has many of resources like printer, us to detect when information has been methods to exploit vulnerability in security scanner, data server and information of the organization. This private network also damaged, altered, or stolen, how it has been C. Availability policies and systems. damaged, altered, or stolen, and who has This refers to whether the network, connected with public network (Internet) and they need to share services resources and caused the damage. Various tools are available system, hardware, and software are reliable
Defining Security
to help detect intrusions, damage or and can recover quickly and completely in the Computer security is continues process. It information but they still need to protect these alterations, and viruses. Detection is very event of an interruption in service. Ideally, is a part of Information security special from people who should not have access to applied on private network / Organization as them, while at the same time making those
Firewall & Information Security
denial of service attacks. The prevention of readily available. Attackers trying to harm a unauthorized accessed of information or system or disrupt normal business operations computer resources. This does apply with help exploit vulnerabilities by using various of firewall. Information should not be freely techniques, methods, and tools. available for everyone. Attackers generally have motives or goalsfor example, to disrupt normal business Need for Security operations or steal information. To achieve Administrators normally find that putting these motives or goals, they use various together a security policy that restricts both methods, tools, and techniques to exploit users and attacks is time consuming and costly. vulnerabilities in a computer system or
Users also become disgruntled at the heavy security policy and controls. security policies making their work difficult for no discernable reason, causing bad politics Security Threats within the company. Planning an audit policy Threats can originate from two primary on huge networks takes up both server sources: humans and nature. Human threats resources and time, and often administrators subsequently can be broken into two take no note of the audited events. A common categories: malicious and non-malicious. The attitude among users is that if no secret work is non-malicious attacks usually come from being performed, why bother implementing users and employees who are not trained on security. computers or are not aware of various Organizations will need to determine the price computer security threats. Malicious attacks they are willing to pay in order to protect data usually come from non-employees or and other assets. This cost must be weighed disgruntled employees who have a specific against the costs of losing information and goal or objective to achieve. hardware and disrupting services. The idea is to find the correct balance. If the data needs A. Human Threats minimal protection and the loss of that data is The most dangerous attackers are usually not going to cost the company, then the cost of insiders (or former insiders), because they protecting that data will be less. If the data is know many of the codes and security measures sensitive and needs maximum protection, then that are already in place. Insiders are likely to the opposite is normally true. There is a price have specific goals and objectives, and have to pay when a half-hearted security plan is put legitimate access to the system. Employees are into action. It can result in unexpected disaster. t h e p e o p l e m o s t f a m i l i a r w i t h t h e A password policy that allows users to use organization's computers and applications, blank or weak passwords is a hacker's and they are most likely to know what actions paradise. No firewall or proxy protection might cause the most damage. between the organization's private local area The insider attack can affect all network (LAN) and the public Internet makes components of computer security. By the company a target for cyber crime. browsing through a system, confidential information could be revealed. Insider attacks Need for Security and Facts can affect availability by overloading the Information is the key asset in most system's processing or storage capacity, or by organizations. Companies gain a competitive causing the system to crash. People often refer advantage by knowing how to use that to these individuals as crackers or information. The threat comes from others hackers. A hacker was once thought of as who would like to acquire the information or any individual who enjoyed getting the most limit business opportunities by interfering out of the system he or she was using. A hacker with normal business processes. The object of would use a system extensively and study it security is to protect valuable or sensitive until he or she became proficient in all its organizational information while making it nuances. Vol.2. No.3. July-Sept. 2011 SHARE Journal of Multidisciplinary Research & Studies
B. Natural Threat mongers out of private networks. The most N o b o d y c a n s t o p n a t u r e t h r e a t . commonly used type of firewall is the packet-Earthquakes, hurricanes, floods, lightning, filtering firewall. These firewalls allow and fire can cause severe physical or some considerable liberty for the traffic moving software damage to computer systems. inside the private network, and going out of the Information can be lost, system downtime or network. But they treat traffic coming into the loss of productivity can occur, and damage to network with a lot of suspicion. The firewall hardware can disrupt other essential services. blocks any incoming packet, which does not Few safeguards can be implemented against meet a certain, set of rules or looks
malicious. natural disasters. The best approach is to have Firewall is a trusted system that is placed disaster recovery plans and contingency plans between a trusted internal network and another in place. Other threats such as riots, wars, and untrusted external network. The firewall terrorist attacks could be included here. system implements a policy that defines what Although they are human-caused threats, they information should be allowed to pass are classified as disastrous. through.
Different Tools of Information
B. Antivirus "Antivirus" is protective software
Security
A. Firewall time it is A firewall is a device some malicious software. Malicious software or software also that protects one "malware" includes: viruses, Trojans, key designed to defend our computer against
network like
private network from another loggers, hijackers, dialers, and other code that network like internet while allowing vandalizes or steals our computer contents. In communication between the two. order to be an effective defense, our antivirus Firewall working and prevention method software needs to run in the background at all firewall incorporates is show in figure. A times, and should be kept updated so it the functions of the NAT router, while adding recognizes new versions of malicious features for dealing with a hacker intrusion or software. New attack. Several known types of intrusion or attack can be recognized viruses are discovered daily. The when they occur. When an incident is detected, effectiveness of antivirus software is the firewall can log details of the attempt, and dependent on having the latest virus profiles it can optionally send e-mail to an installed on our computer so that it can look for administrator to report the incident. recently discovered viruses. It is important to Using information from the log, the keep these profiles up to date that is also knows administrator can take action with the as virus-definition updates. Virus definition is some types of ISP of the hacker. In important for computer security against intrusions, the firewall can fend off the hacker threats and updating of virus definition must by discarding all further packets from the be performer in a week or a month, other wise hacker's IP address for a period of antivirus is not performing task against time . kind of security measure C. Router taken to limit types of Internet traffic that can come in and go out of our local A Router is a device that connects two network. Today, any corporate network serious networks - frequently over large distances. It will have some about their network security understands one or more network protocols, sort of firewall installed. Private networks such as IP or IPX. A Router accepts packets on have firewalls to prevent the InternetThe word firewall is used to describe any computer viruses.
related fire from entering. Firewalls
at least two network interfaces, and forwards
primarily used to allow restricted access to
are packets from one interface to another [3].
Routers may be programmed to filter out some a private network and to keep mischiefpackets, and to dynamically change the route ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 00000000000000000008988 ISSN : 0976-4712
by which packets are routed.
anything from birthdays to the names of loved
Scheme for Classifying

Routers often use different media on each ones. This is vulnerability because it gives interface. For instance, a router might have one others a good chance to guess the correct Ethernet port and one ISDN port. password.
Intrusion Signatures
Gaurav Jain and Amit
Swami Rajasthan Institute of Engineering and Technology, Jaipur, Rajasthan Firewall and Security E. Protocol design V u l n e r a b i l i t i e s
C o m m u n i c a t i o n p r o t o c o l s s o m e t i m e s
V u l n e r a b i l i t y i s a n i n h e r e n t w e a k n e s s i n
h a v e w e a k p o i n t s . A t t a c k e r s u s e t h e s e t o g a i n the design, configuration, or implementation information and eventually gain access to The goal of intrusion detection by examining the audit trail is to determine when a
systems. of a network or system that renders it susceptible to a threat. A malicious attacker uses a method to exploit vulnerabilities in
computer system has entered, or is likely to enter, a faulty or intruded state. This chapter focuses on "examination" of the audit trail in the context of misuse intrusion detection by showing how common features of the examination process can be used to categorize intrusion signatures.
Conclusion
order to achieve a goal. Vulnerabilities are Firewall is most important network weak points or loopholes in security that an security device to other security tools. Firewall attacker exploits in order to gain access to the play important role to managing and securing network or to resources on the network. Most private network from public network. vulnerabilities can usually be traced back to Hardware firewall is best security devices one of three sources: rather then software firewall. Hardware
Introduction
specifying and matching them. Such a These structural interrelationships are classification provides conceptual benefits of defined over high-level events or activities, understanding intrusion signatures. By which have been themselves defined in terms specifying that a signature
belongs to a of low level audit trail events. The abstract particular class, it conveys the structural hierarchy can be instantiated into a concrete interrelationshi ps of high-level events that h ierarchy by precisely defining a high-level comprise the signature. Thus, instead of Poor because design firewall vulnerability is that its configuration Poor implementation network administrator do any Poor management mistakes these mistakes are biggest vulnerabilities of hardware firewall other wise Remember that the vulnerability is not the it's more secure then software firewall. Router attack, but rather the weak point that is event in terms of low level audit trail events. referring to exploitation as a race condition An instantiated hierarchy permits the attack involving the exec system call, one det ermina tion of p re cise theoreti cal might refer to it as a sequence pattern. This complexity bounds of matching signatures in abstracts details of the exploitation by each level of the hierarchy. The abstract removing
mention of exec, the temporal nature exploited. Here are some of the weak points: only manages and control of data flow of the
hierarchy presented here does not classify attack, or other system dependent
A. Firewall Policies Vulnerabilities between different networks, but it not prevents security vulnerabilities. Instead, it classifies properties. As a consequence of partitioning B. Windows OS Vulnerabilities unauthorized accessing. Antivirus software signatures that are used to detect the based on the structural interrelationship C. Remote Desktop application only works against malicious programs. These exploitation of vulnerabilities. In the latter part among high-level events, seemingly intuitive malicious programs corrupt, damage or we describe how pattern D. Passwords matching can be used partitions based on temporal characteristics of Password altered the information. Antivirus is caring to selection will be a contentious o "examine" the audit trail for the occurrence attacks are subsumed under categories in this point as long as users have to select one. The protect the information from malicious hierarchy. Our partition does not treat any of these signatures. We show how traditional p r o b l e m u s u a l l y i s t
r e m e m b e r i n g t h e c o r r e c t p r o g r a m s . S o t h a t , i
t i s m u s t t o k n o w e v e r y o n e p a s s w o r d f r o m a m o n
g t h e m u l t i t u d e o f a b o u t I n f o r m a t i o n s e c u r i t y t h
r e a t s , i t s p a s s w o r d s a u s e r n e e d s t o r e m e m
b e r . U s e r s V u l n e r a b i l i t i e s a n d h o w t o p r o t e c t i n f o r
m a t i o n e n d u p s e l e c t i n g c o m m o n l y u s e d p a s
s w o r d s f r o m m i s u s e d ? I n t h i s p a p e r I t r y t o d e s c r i b e
b e c a u s e t h e y a r e e a s y t o r e m e m b e r l i k e
t h r e a t s , v u l n e r a b i l i t i e s a n d t h e r e p r o t e c t i v e t o o l s . pattern matching is inadequate to represent
attribute of events specially and temporal and match intrusion signatures by presenting characteristics are treated as properties of a the requirements that a framework of pattern particular "time" attribute. It offers another matching solution must provide to represent way to partition intrusions based on what can intrusion signatures. We instantiate the be precisely monitored as opposed to how it is abstract hierarchy by defining a "high-level monitored. The traditional way intrusions e vent" as a DAG and combining it with the have been partitioned has been to group them Reference pattern matching requirements, into a model of based on a technique for detection. This has ! Brown, Carol E. and Alan Sangster. Electronic Sabotage.
! Computer security, http://en.wikipedia.org/wiki/Computer_security ! Department of Defense Trusted Computer System Evaluation Criteria (Orange Book).
National Computer Security Center. matching. resulted in the generic approaches of "anomaly" and "misuse" detection. By treating
Hierarchy of Intrusion
intrusion detection as signature matching,
intrusions can be cl
! Jinqi Zhang , T.T. Grampp and R. H. Morris, Artice title Firewall in Internet Security. ! Martin, Brian. Have Script Will Destroy (Lessons in DoS). ! National Institute of Standards and Technology Computer Security Division. ! William R. Cheswick, Steven M. Bellovin, Aviel D. Rubin, Firewalls and Internet Security, !
Second Edition, Addison-Wesley Professional Computer Series. http://hitachi-id.com/concepts/router.html
Signatures
manifestations of their exploitation in the audit We define the hierarchy of intrusion trail. Many intrusions that are detected as signatures, which is partitioned on the anomalies, such as an unusual number of structural interrelationshi ps among the failed logins, can be represented and matched elements of the signatures, in terms of highas signatures. If the patterns that we are level events. It permits a
classification of interested in modeling for intrusion detection
! http://netforbeginners.about.com/od/a/g/antivirus.html signatures based on common characteristics possess common characteristics, exploiting ! http://hitachi-id.com/concepts/firewall.html that are abstracted from any particular way of these characteristics might result in more efficient matching
solutions.
C l a s s i f y Vu l n e r a b i l i t i e s o r Signatures
As mentioned earlier, our hierarchy c l a s s i f i e s s i g n a t u r e s r a t h e r t h a n vulnerabilities. In this section we justify why this is more meaningful from the viewpoint of detection. Cataloging of software bugs has been of keen interest to software engineers. The rationale for this interest is summarized by Bezier (1983) It is important to establish categories for bugs if you take the goal of bug prevention seriously. If a particular kind of bug recurs or seems to dominate the kinds of bugs you have, then it is possible through education, training, new controls, revised controls, documentation, inspection, and a variety of other methods to reduce the incidence of that kind of bug. If you have no statistics on the frequency of bugs, you cannot have a rational perspective on where and how to allocate your limited bug prevention resources. The predominant view taken here is that of prevention. By studying the point of origin and the nature of significant flaws in software systems, one can devise techniques to reduce them. Studies that have focused on security vulnerabilities in operating systems, such as the one done by Landwehr et al (1993), have also taken the view of prevention. The intent is to learn from mistakes so that future systems might avoid repeating mistakes.
Our Classification
Our abstract classification hierarchy has four categories in which a category at a higher level subsumes the category below it in terms of the signatures that can be represented in the category. Precise bounds on matching in each category can be made by instantiating this abstract category. Instantiation requires a precise definition of the structure of a high-level event in terms of low-level audit trail events. For example, a simple instantiation of the hierarchy can be made by defining a high-level event to be the same as an audit trail event. This results in a particular distribution of intrusion signatures in the various
Classifying Intrusion Signatures
categories of the hierarchy. By defining a high-level event structure in more complex ways, this distribution can be shifted to move signatures from higher levels to lower levels. The "best" choice of such a definition depends in part on the nature of the audit trail. A high-level event serves to encapsulate differences in audit trails so that intrusion signatures remain relatively unchanged when written using high-level events. As a useful example, we have instantiated this abstract hierarchy for the Sun BSM [Sun93b] audit trail by defining a high-level event as a DAG of audit trail events. This choice is based on the Sun implementation of recording read and write system calls in the audit trail as separate events for each flag specified as an argument to these calls. In the discussion below, we use the term "thing" for a "high-level event." Our classification scheme, in increasing order of represent ability of signatures, is: (1) Existence: The fact that something existed is sufficient to detect the intrusion
attempt. Existence patterns can be thought of as system state predicates that can be evaluated by inspecting the state of the system at a fixed time, rather than predicates on events. Examples include searching for specific permissions on special files, looking for the presence of certain :files, or ensuring that file contents follow a specific format, both syntactic and semantic. Existence patterns look for evidence that may have been left behind by an intruder. Existence patterns are needed, for example, when all securityrelevant activity is not reflected in the audit trail, or when the integrity of the audit trail is questionable. This can happen when file systems are remotely mounted, or when the audit trail is destroyed by the intruder. Existence patterns may then be devised to scan the file system for the presence of unauthorized setid files, unsafe permissions on devices, etc. Although the focus of our classification is to categorize signatures, not vulnerabilities, an extension of existence patterns can also be used to detect vulnerabilities in systems. A study conducted
by Bishop on UNIX vulnerabilities [Bis95] revealed that as many as 95% of all vulnerabilities in his study originated from configuration problems. These can be modeled and detected using existence patterns. Checks performed by static analysis tools such as COPS [FS90] and TIGER [SSH93] can also be modeled by existence patterns. (2) Sequence: The fact that several "things" happened m strict sequence is sufficient to specify the intrusion. The time to process an event for sequence patterns depends on the events in the event stream that occurred before the event. If patterns can specify constraints that hold on the data fields associated with events, then matc hing sequ ences is computationally at least as difficult as solving NP Complete problems, i.e., it is NP Hard. Simple constraints involving only equality tests between "things" comprising a sequence pattern can represent NP Complete problems. For example, to determine the Hamiltonian path of an arbitrary graph with n vertices, a sequence pattern can be devised that selects n distinct vertices (specified using equality constraints) such that consecutive vertices in the selection are valid edges in the graph. T w o special cases of this category relevant to intrusion detection are: (i) Interval. "Things" happened an interval x apart within a specified accuracy This is specified by the condition that ail event occur no earlier than x -and no later than x + units of time after another event. (ii) Duration. This requires that "things" existed or happened for not more than nor less than a certain interval of time. Duration of complex events can often be specified as interval constraints between simpler ones. Both types of requirements can be handled within the framework of sequence patterns by using appropriate context expressions, or constraints. As an example of a sequence pattern, consider the representation of a race condition attack that involves switching a link to a setuid shell script file. This scenario exploits the #! mechanism of determining the executable file to run in the exec ( ) system call. In some older UNIX kernels exec reads the first two bytes of the program file it is trying to execute to determine if it is a shell file. If the first two bytes are #!, it reads the next several bytes to determine the name of the interpreter to run and gives the name of the current file (the one containing the #!) as an argument to it. The attack works by making a link to a stupid shell file and invoking the program through the link. The link is then quickly pointed to a malicious script. If the race condition succeeds, the malicious script is executed because it is passed as the argument to the interpreter. Furthermore, the malicious script is executed with the same user id as the owner of the original file (the file with the # ! ) because exec uses the permissions on that file to determine the user id of the interpreter that is invoked when the file is setuid. The timing numbers below are purely illustrative. T. b is the time when command b is done and so on. (a) In setuid_shell_script FOO (b) FOO & (c) rm FDD (200ms<=T.c-T.b<=1s) #unlink FOO between 200ms & is of invoking FOO
(d) In any_shell_script FOO (T.d-T.b<=1s) #relink it within 1s A pictorial representation of this pattern might look as shown in Figure, which is a sequence of three actions: creation of an alias, execution, change of the alias. 3 Other Patterns: This category contains all other intrusion signatures that cannot be represented directly in one of the earlier categories. These patterns include patterns that require embedded negation and patterns that involve generalized selection. For example, to specify a successful match if any x -3 out of x conditions are satisfied, all possible ways of selecting x - 3 conditions out of x have to be represented in the pattern. The categories from top to the bottom represent increasing reprehensibility of intrusion signatures. That is Existence Sequence RE patterns Other patterns
Existence Interval and Duration are subsets of the category Sequence.
Relevance of this Classification
This classification yields a categorization of intrusion signatures that is independent of any underlying computational framework of matching. The classification also serves as the basis for instantiating any such computational framework. We have populated this hierarchy with intrusion signatures [KS] and the majority of the intrusions we studied were contained in the first three categories. Using this classification as the basis for a computational framework can be approached in two ways. Each category in the classification can be treated independently and a computational procedure devised that matches signatures in that category. This yields disparate solutions to the matching problem in each category. Alternatively, a unified procedure can be devised in which all categories can be represented and matched in one model. The approach taken in this dissertation is that of a unified model of matching.
Intrusion Detection as Pattern Matching

In this section we show how pattern matching can be used to examine or monitor for signatures in the audit trail. Our approach encodes signatures as a formal, structured representation of low-level system events that constitute the exploitation of the attack. We show how this approach can be used with any underlying abstracted event stream. We discuss the benefits of using pattern matching for detecting intrusions. We also discuss generic requirements that any intrusion detector using a pattern matching approach must satisfy when run in the current paradigm of audit trail generation.
Intrusion Signatures as Patterns to be matched

To show the likeness of intrusion signatures and patterns in the sense of classical pattern matching, consider the monitoring of Clarke-Wilson [CW89] integrity triples in a computer system using the system generated
audit trail. Clarke-Wilson triples are devised to ensure the integrity of important data and specify that only authorized programs running as specific user ids are permitted to write to files whose integrity must be preserved. This is similar to the maintenance of the integrity of the password file on UNIX systems by allowing only some programs, like chfn to alter it. One pattern that might be used for this purpose associates and matches a subsignature for creating a process with another that writes to files. By appropriately specifying that the created process is the same as the one that writes, and retrieving the user id, the program name and the file name from the context of the match, one can
monitor Clarke- Wilson integrity triples by pattern matching The approach of viewing intrusion signatures as patterns to be detected by matching them against the audit trail has the benefits i.e Event Layout Independence, Declarative Specification ,Dynamic Pattern Creatio, Event Source Independence ,Multiple Event Streams and Portability
Nature of Intrusion Signatures

In this section we outline the general, a b s t r a c t r e q u i r e m e n t s t h a t p a t t e r n specifications must incorporate to represent the full range and generality of intrusion scenarios. These requirements were derived f rom a stud y o f com puter sec urity vulnerabilities described in Bishop [Bis83], CERT advisories [CER], and the COPS security tool [FS90]. The examples are illustrated using UNIX vulnerabilities and a C2 audit trail. This is only because of our familiarity with them and should not be construed as a limitation of this approach. Context Representation : The patterns must be able to represent the context essential to accurately specify an intrusion. The more accurately one can specify an intrusion; the more one can limit false positives and unwanted matches. The context includes the precondition( s) that may need to be satisfied before matching the event group specified by
the pattern. The pre-condition verifies that the system is in a state from which the set of actions carried out as specified in the pattern result in an intrusion. Some signatures may not require a pre-condition. The other type of context involves expressions on the values of event fields. These values may be taken from more than one event. For example, when encoding ClarkeWilson triples as patterns, one needs to remember the user id and the program name associated with every process spawned to match it against every write (or open for write) to ensure that only those writes to files that are permitted by certain programs executing on behalf of certain users occur. A PROGRAM STARTS UP P R = this program's name PI D = this process's pid A PROCESS WRITES TO A FILE F = this file's name PI D' = this process's pid U I D = this process's uid Context: PI D = PI D' Clarke Wilson access triples do not permit PR running as user id UID to write to file F. Figure - Monitoring Clarke-Wilson Triples as a Pattern Match As another example of the use of signature contexts, consider the representation of the signature: Raise the audit level of any user for whom there are three or more failed login attempts within two minutes. The block diagram of the signature might look as shown in Figure, the sequence of failed logins as depicted implies that t t
2 1
t3
ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c4500010100000c484c696e6f021000006d6e74725247422058595a2007ce00020009000 600310000616373704d5346540000000049454320735247420000000000000000000000000000f6d6000100000000d32d485020200000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000001163707274000001500000003364657363000001840000006c77747074000001f00000001 4626b707400000204000000147258595a00000218000000146758595a0000022c000000146258595a0000024000000014646d6e640000025400000070646d6464000002c 400000088767565640000034c0000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0000002474656368000004300000000c7254524 30000043c0000080c675452430000043c0000080c625452430000043c0000080c7465787400000000436f70797269676874202863292031393938204865776c6574742d50 61636b61726420436f6d70616e790000646573630000000000000012735247422049454336313936362d322e310000000000000000000000127352474220494543363139 36362d322e31000000000000000000000000000000000000000000000000000000
Figure . Three Failed Login Attempts as a Signature Matching in the presence of context is more difficult than matching where only the order of occurrence of events is specified, as in regular expression matching [AHU74]. If the evaluation of the context is linear in its size (of representation) then matching is NPComplete [KS94]. This means that in general there are no known deterministic algorithms that perform significantly better than trying all possible ways of matching the pattern. Follows Semantics: The patterns must intrinsically specify the following special of discrete approximate pattern matching: if the event sequence e ,e 2,........., e matches the pattern, then so does e 1,[ x 11, x 12, ....... x 1l ],e 2,[ x 21, x 22...... x 2m ],....., e
1n n , where xijare arbitrary events. That is, the insertion of an arbitrary number and type of events between any successive events of a matching event sequence continues to render the pattern matched. We refer to this specialization as matching with the follows semantics. If this problem is framed in terms of the edit distance of converting the input to the pattern, with deletion costs = 0, insertion costs = mismatch costs = 1, it is to determine if the minimum cost of converting the input to the pattern is O. This requirement is justified when one considers how event streams (e.g., audit trails) are generated in modern computer systems. Multiple sources of events, for example from several processes, overlap in the final event trail. Because event trail managers (a process) usually collect and write events in the order in which they are received, a single logical thread of events, for example one associated with it process, is interspersed with events belonging to other active entities in the system. Discrete approximate matching has been extensively studied by Wagner and Fischer [WF74], Myers and Miller [MM89], Yates and Gonnet [BYG89], Manber and Wu [WM91] and Knight [Kni93]. Matching with the f o l l o w s s e m a n t i c s w i t h o u t c o n t e x t representation has the same complexity as matching regular expressions. This has a linear time solution in the deterministic case (ignoring preprocessing) and polynomial time s o l u t i o n w h e n s i m u l a t i n g t h e n o n -deterministic pattern. These results can be found in the book by Aho et al. [ASU86].
Specification of Actions: The patterns should be able to specify the execution of arbitrary code fragments, both within the pattern's context and when the pattern is matched. For example, it might be desirable to increase the amount of data audited for a user when a suspicious pattern is matched. Some generic mechanism for specifying such actions must be provided without needing to enumerate a priori all the special functions that might be needed for this purpose. Fixing the set of functions that can be used within a pattern when the model of matching is designed is difikult. It is also too restrictive to the pattern writer to work with a fixed set of functions in writing patterns. A general mechanism, for example one based on a virtual machine model that allows complex, user specifiable functions to be constructed from a small, simpler set of instructions, is more desirable. Such a mechanism might also be used to query the system for state information, changing the event trail manager, or to effect state changes in the system itself. Consider the Clarke-Wilson example of Figure . The mechanism of storing the CWtriples and checking them against the pattern context can be specified using a function that takes the program name, the user id, and the file name as arguments and determines if it is an allowed triple. The function declaration for such a function might look like: //return 1 if triple not permitted, 0 otherwise int disallowed(String prog, int uid, String file) Representation of Invariants: The following special types of patterns must be easy to represent: p p p .... In other words, the pattern is considered matched if a sequence of events e1, ... , en satisfies p1 but does not satisfy p2, p3,... This often allows operational details of matching (like garbage collection of partially matched signatures that will never completely match) to be specified by the pattern writer without needing to build such
mechanisms into the matching solution. This provides flexibility and control to the pattern
12 3
writer in cases when built-in behavior is inefficient or simply does not provide the mechanism to express the special cases for a particular pattern in which partial matches can never be fully matched. We are not particularly concerned here with the theoretical completeness of this approach of specifying all conceivable situations in which partial matches can be fruitfully deleted. Based on an empirical study of intrusion signatures we view this mechanism to be sufficient. Our inclination between efficiency and generality is towards efficiency. We have attempted to devise constraints for a model that can represent and efficiently match a large proportion of the common cases (which is inextricably tied to empiricism), and not to devise a general-purpose solution in which every possible condition can be represented and matched.
System and Other Considerations
In addition to the model requirements presented in the previous section, we have found it useful to place additional constraints on a particular instantiation of the model (KS95). These can be viewed as system constraints on the final packaged misuse detector. These constraints attempt to answer the question: if we could devise a model of matching that met the requirements of Section 3.2.2, how would we structure a system around it? What would be desirable characteristics of the model and the system? We believe the following to be some of those desirable characteristics. Dynamic addition and removal of patterns: This is the ability to add and remove patterns to be matched as the matching proceeds. This ability serves several useful purposes. For example, it enables the short-lived instantiation of specially tailored patterns to confirm or deny evidence in model-based intrusion detection Or, it might allow coarse patterns to generate successively more refined patterns to confirm or deny intrusive activity once they are matched. Incremental Matching: By this we mean that the events in the event stream are made available one at a time and the matcher must
indicate all successful match after each given event. In other words, all the events are not available a priori for preprocessing. This requirement often makes the matching solution computationally difficult. In addition to incremental matching we have found it useful for the matching to be online, i.e. matching is done concurrently with the generation of events. This is because signature 'context often requires the availability of system state information which is usually meaningless in an off-line solution. Prioritization of Patterns: In the case of several patterns it must be possible to give matching preference to some patterns over others. This requirement is one of proper distribution of limited computing resources. If the matching of events against patterns proceeds at a rate faster than the event generation rate, prioritization may not be necessary. But, in a setting in which the monitored machine and the event processing machine are the same, it might be desirable to temporarily disable matching proceeds remaining patterns. so m e m or e patt erns rapi dly s o f o r t h a t t h e
All Matches: The matching solution must provide for all matches of all patterns in the system. From a security perspective, it is often more desirable to know all the specific violations rather than knowing that a violation has occurred, or knowing the first violation as soon as it occurs. From the enumeration above we have ignored performance requirements such as efficiency or real-time behavior, low resource overhead, and scalability of the solution with respect to the number of patterns to be matched simultaneously. These are important requirements but good values of these measures cannot be quantified independent of the specifics of the environment in which the detector will run. Further Advantages of a Pattern Matching Approach
There are several added benefits of viewing misuse detection as a pattern matching solution. By considering intrusion signatures as patterns, the audit trail as an abstracted event stream, and the detector as a pattern matcher, we can cleanly separate the major components of a generic misuse detector. This enables different solutions to be substituted for each component without changing the overall engineering structure of the system considerably. The event stream encapsulates the syntactic and data representation differences present in various audit trails. Semantic differences may be more difficult to subsume without changing the signature. Because matching is done on the information contained in the events, of which the matcher has no information, any abstracted event stream will do, for example network packets. This makes the system more portable. Furthermore, if the pattern representation is standardized, patterns can be distributed to other sites which may run a different version of a similar operating system and a different version of the audit trail. Each site need only write a structural description of the audit trail once for all its patterns. A simplified misuse detector can then be an application program that uses a mechanism to dispatch incoming events to patterns and uses calls to a pattern matching library to do the matching of those patterns. This means that building misuse detectors no longer requires learning specialized tools, techniques, and theories before using them as building blocks for a misuse detector. It can be as simple as understanding and using a matching library. Pattern matching has been extensively studied as a discipline. It is amenable to several optimizations that can make a system built around it practical and efficient. For example, the evaluation of context is amenable to compiler optimization techniques. It might also be possible to combine several patterns together into a joint pattern with better matching characteristics. The use of pattern invariants allows the pattern writer to encode patterns that do not need to rely on primitives built into the matching procedure to manage the matching. One example is the ability to clean up partial matches once it is determined that they will never match. This frees the matching subsystem from having to provide a complete set of such primitives and, in the process, coupling the semantics of pattern matching with the semantics of the primitives. C o n c e p t u a l l y, p a t t e r n s r e p r e s e n t i n g vulnerabilities in our model subsume static methods of intrusion detection such as those incorporated in tools such as COPS [FS90] and TIGER [SSH93]. By specifying that a pattern does not match events but instead satisfies a context when created, all the checks that these tools make can be verified. Thus, we can encode tests that not only verify that the system is initially clean but also continues to remain so as the system continues to function. This approach is, then, limited only by the expressive power of the patterns and the computational intractability of matching imposed by their generality. Within the framework of the outlined model, patterns can be designed to perform tasks beyond the traditionally defined domain of misuse detection. We believe
that with a well designed model for representing patterns, simple anomalies can also be represented and detected in this framework.
Disadvantages of a Pattern Matching Approach

Given a well constructed pattern that represents an intrusion scenario it might not be too difficult to match it against the event stream. A difficult problem, however, is the identification and extraction of the core crucial elements from exploitation descriptions, such as those described in the bugtraq [Bug] and 8lgm [81g] mailing lists, and turning them into general descriptions for detecting variations and permutations of the vulnerabilities. Currently it requires human expertise to do the translation and there is no easy way to automate the process. Abstracting high quality patterns from attack scenarios is much like extracting virus signatures from infected files. The patterns should not conflict with each other, be general enough to capture variations of the same basic attack yet accurately represent the intrusion to reduce false positives and false negatives, and be simple enough to keep the matching computationally
tractable. While this technique only works for vulnerabilities that are known and for which patterns have been devised, it is the case that newer vulnerabilities are often different ways of exploiting well-known problems in system software. This approach examines the trace of a running system for 'behaviors' in an attempt to monitor suspicious behavior. A well written signature can reduce the effects of aliasing so that it is possible to represent the crux of an intrusion that is unchanged by minor rearrangements of the exploitation scenario and is insensitive to the path taken to effect the intrusion. Signature analysis assumes the integrity of event data. Thus, attacks that involve spoofing, which produce the same events (but from an entrusted source) cannot be reliably detected. Furthermore, passive methods of security breaches such as Wiretapping cannot be detected at the time of the breach because they do not produce a detectable signature.
Summary
We presented a scheme to represent intrusion patterns based on the complexity of matching. Because representation of context is fundamental to the representation of intrusion signatures, our classification assumes it at each level of categorization. Most of the intrusions we studied can be represented in the first three categories of our classification. These categories serve to group signatures, not vulnerabilities. Different encodings of the same security vulnerability can be made based on the desired accuracy of detection, resulting in a corresponding tradeoff in the complexity of detection. We believe this categorization is also applicable to other operating systems. We also outlined requirements that must be satisfied by a pattern matching solution if the monitoring of intrusion signatures is to be done using pattern matching. Different intrusion detection systems may make different trade off's among these requirements but all systems will have to address all the requirements to some degree. These requirements were empirically derived from a
study of commonly occurring intrusions described by Bishop [Bis83], made public via advisories such as those put out by CERT [CER], and embedded in tools like COPS [FS90]. We also outlined some system considerations that might be useful when implementing these requirements in a practical system. The pattern matching approach should be viewed as a technique
specifically tailored for intrusion detection. Thus, the pattern requirements are not intended to provide a general-purpose audit trail analysis because we are not primarily concerned with the specification and matching of every conceivable interrelationship among events. Instead, we want to provide a mechanism that is simple and efficient, and permits the specification of a large percentage of intrusions. For effective misuse detection, a pattern matching approach sometimes requires the use of facilities that are not currently provided by protection mechanisms and audit trails available on computer systems. Our technique assumes the availability of these facilities. For example, we implicitly assume that for proper detection of intrusions, complex programs with a history of bugs generate a highlevel audit trail that can be used for this purpose. ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000ISSN : 0976-4712
A Comparative Analysis of Current Intrusion Detection Technologies

Abid Husain
Singhania University, Jhunjhunu, Rajasthan Intrusion detection is a significant focus of research in the security of computer systems and networks. This paper presents an analysis of the progress being made in the development of effective intrusion detection systems for computer systems and distributed computer networks. The technologies, which are discussed, are designed to detect instances of the access of computer systems by unauthorized individuals and the misuse of system resources by authorized system users. A review of the foundations of intrusion detection systems and the methodologies, which are the focus of current
development efforts, are discussed. The results of an informal survey of security and network professionals are discussed to offer a real-world view of intrusion detection. Finally, a discussion of the future technologies and methodologies which promise to enhance the ability of computer systems to detect intrusions is provided. Keywords: Intrusion detection, anomaly detection, misuse detection, computer security active measures designed to protected the This paper discusses the current research critical elements of a system. of the six and development efforts to detect internal and components, the accurate detection of a external penetrations of computer systems and system intrusion is the most critical. While networks. The area of intrusion detection is additional measures may be very
Introduction
effective at central to the concept of computer security. preventing an eventual penetration of the While a number of methods can be employed system, all security measures rely on the to protect the data stored within a computer accurate identification of an attacker prior to system, the ability to identify instances of an the employment of defensive measures. The attack on the computer is paramount if an need for effective intrusion detection
effective security mechanism is to be mechanisms as part of a security mechanism developed. for computer systems was recommended by Halme and Bauer have identified intrusion Denning and Neumann. They identified four detection as one of six components in their reasons for utilizing intrusion detection within taxonomy of anti-intrusion techniques. The a secure computing framework: first three components which they identified; 1. Many existing systems have security flaws prevention, preemption, and deterrence, are which make them vulnerable, but which
primarily based on passive measures which are very difficult to identify and eliminate decrease the likelihood of a successful attack because of technical and economic reasons. on a system. These components address the policy related issues of information security 2. Existing system with security flaws cannot and those elements which can be incorporated be easily replaced by more secure systems into a system with minimal effort. Examples of because of application and economic t h e s e i n c l u d e t h e e s t a b l i s h m e n t o f considerations. organizational security guidelines, security 3. The development of completely secure education and training, and the posting of systems is probably impossible. warning notices on the initial screens of a 4. Even highly secure systems are vulnerable system. The last three components, deflection, to misuse by legitimate users. detection, and countermeasures, are more This paper is divided into three primary areas.
Current Intrusion Detection Technologies
The first section provides an overview of intrusion detection fundamentals. These include the metrics which are commonly used for quantitative analysis of available data, the models, and approaches which are utilized most often in the development of intrusion detection systems. The second section describes some of the current technologies and methodologies which are being developed in the area of intrusion detection research. Finally, the results of a recent informal survey are presented to offer a glimpse of those
security officials, system administrators and network professionals who actually develop, utilize and evaluate intrusion detection systems on a day to day basis.
Intrusion Detection Fundamentals
Development/Evolution of Intrusion Detection Mechanisms The first major work in the area of intrusion detection was discussed by J.P Anderson. Anderson introduced the concept that certain types of threats to the security of computer systems could be identified through a review of information contained in the system's audit trail. Many types of operating systems, particularly the various flavors of UNIX, automatically create a report which details the activity occurring on the system. Anderson identified three threats which could be identified from a concentrated review of the audit data: 1.1. External Penetrations:-Unauthorized users of the system. 2.2. Internal Penetrations:-Authorized system users who utilize the system in an unauthorized manner. 3.3. Misfeasors:-Authorized user who mislead their access privileges. While the concept of manually reviewing operating system audit records for indications of intrusions was recognized as an extremely inefficient method of securing a computer system, Anderson's article served toinitiate research into the area of intrusion detection. S u b s e q u e n t r e s e a r c h i n v o l v e d t h e development of automated techniques for the review of audit record data. Until recently, most intrusion detection mechanisms were based on an automated approach to Anderson's concepts. However, the recent development of new intrusion detection approaches and, more significantly, the necessary application of intrusion detection technologies to networked environments, is changing the focus of intrusion detection research. The most significant of these new technologies and approaches will be discussed in this report. Dr. Dorothy Denning proposed an intrusion detection model in 1987 which became a landmark in the research in this area. The model, which she proposed, forms the fundamental core of most intrusion detection methodologies in use today. Because of the applicability of these concepts to most accepted intrusion detection systems, an overview of the primary concepts of the model is presented here to provide a basis of understanding the core technology.
Foundations of an Intrusion Detection System

Any statistical intrusion detection methodology requires the use of a set of definable metrics. These indices are the elements upon which all of the tool's statistical analysis is based. These metrics characterize the utilization of a variety of system resources. The resources which would be used in the definition of the metrics are required to be system characteristics which can be statistically based, (i.e., CPU usage, number of files accessed, number of login attempts). These metrics are usually one of three different types. Event counters identify the occurrences of a specific action over a period of time. These metrics may include the number of login attempts, the number of times that a file has been accessed, or a measure of the number of incorrect passwords that are entered. The second metric, time intervals, identify the time interval between two related events. Each time interval compares the delay in occurrence of the same or similar event An example of a time interval metric is the periods of time between a user's logins. Finally, resource measurement is the concept of quantifying the amount of resources used by the system over a given period of time. R e s o u r c e m e a s u r e m e n t i n c o r p o r a t e s individual event counters and time interval metrics to quantify the system. Examples of r e s o u r c e m e a s u r e m e n t s i n c l u d e t h e expenditure of CPU time, number of records written to a database, or the number of files transmitted over the network. While not normally considered with the "traditional" intrusion detection metrics, keystroke dynamics is another method of quantifying a user's activities which offers an effective measure of user identification. The concept involves the development of an electronic signature of a user based on
their individual typing characteristics. These characteristics usually include typing speed, intervals in typing, number of errors, and the user's typing rhythm. These characteristics may be verified on login and/or monitored throughout a session. Complete intrusion detection mechanisms have been developed exclusively around the use of keystroke dynamics techniques.
4.
Approaches to Intrusion Detection System All current intrusion detection systems make four assumptions about the systems that they are designed to protect: 1.1. Activities taken by system users, either authorized or unauthorized, can be monitored. 2.2. It is possible to identify those actions which are indications of an attack on a system 3.3. Information obtained from the intrusion detection system can be utilized to enhance the overall security of the network. 4.4. A fourth element which is desirable from any intrusion detection mechanism is the ability of the system to make an analysis of an attack in real-time. This would allow the intrusion detection mechanism to limit the adverse effects which are perpetrated on the system. An effective use of this element is probably the most difficult component of an
5.
intrusion detection system to achieve. While metrics can be developed which monitor all aspects of a user's behavior, the resulting degradation on the overall performance of the system may require that a thorough analysis be conducted off-line, thus eliminating a real-time detection capability.There are currently a variety of approaches being utilized to accomplish the desirable elements of an intrusion detection system. Two of these, anomaly detection and misuse detection, form the core of several intrusion detection techniques which currently exist. Other approaches, such as pattern recognition, are attempting to identify new methods of identifying information system attacks. Specific events based on a predetermined set of criteria. The technique is typically employed in the detection of deviations from typical behavior and/or the similarly of events to those which are indicative of an attack.
6. 7. Current Intrusion Detection Techniques
Several intrusion detection techniques were described in detail in this paper. This paper will not attempt to readdress those techniques and tools. The following is a review of the significant developments in intrusion detection research which have been made in the past several years. NIDES:-SRI International began research into an intrusion detection expert system in 1985. The result of the research, the Intrusion Detection Expert System (IDES) has become a standard in intrusion detection systems. Several current systems are based in part on IDES prototype technology. The Next -Generation Intrusion Detection Expert System (NIDES) is the comprehensive enhancement to IDES. NIDES is a real-time intrusion detection application which integrates a statistical analysis -based anomaly detector and a rule-based misuse detection system. This combination gives NIDES the ability to detect penetrations from internal and external attacks. SRI incorporated a number of significant improvements into NIDES. In
addition to modularizing the application, NIDES includes an enhanced statistical analysis component and additional support for a strict client-server model. NIDES also includes a
comprehensive user interface that permits access to all of the applications capabilities, as well as a context -sensitive help system. DIDS: The Distributed Intrusion Detection System (DIDS) is an intrusion detection mechanism which was developed jointly by the University of California at Davis, Lawrence Livermore Laboratory, Haystack Laboratory and the U.S. Air Force. DIDS combines attributes of a network monitoring system with the system-level capabilities of an audit record-based combined anomaly/misuse detector. DIDS incorporates a monitor on each host, a monitor on the local area network (LAN), and a DIDS director. Each host monitor consists of a host event generator and a host agent. The host event generator reviews the audit data from the host for indications of events which may be part of an attack. The DIDS host event generators also utilize user and group profiles to identify anomalous behaviors in the audit record. The information identified by the host event generator is reported to the DIDS director by the host agent. STAT/USTAT: The State Transition Analysis Tool (STAT) and USTAT, the variation of STAT which was designed specifically for the UNIX operating system environment, are rulebased penetration detection approaches which characterize the process of an attack on a computer system as a series of transitions from an initial state to a compromised state. The technique defines specific events, called signature actions, which occur between each of the intermediate transitions. The omission of any of the signature actions results in a failed attack on the system. Another advantage of this approach is that because STAT/USTAT selects specific audit data for confirmation of potential intrusion patterns, only a portion of the audit data is actually reviewed. This reduces the reliance of the system on the entire set of audit data, thereby reducing the required storage space and memory requirements necessary for processing an entire audit trail. Tripwire : In November 1992, the COAST laboratory at Purdue University introduced Tripwire. Tripwire is an integrity checking program which permits a system administrator to monitor system files for addition, deletion, or modification. The program is estimated to have been installed on several thousand systems worldwide.Tripwire utilizes input from a configuration file and a database to identify areas of interest. The configuration file consists of a description of the file systems which are to be monitored. The database contains the signatures of files which match the configuration. The signatures of the files are calculated based on a the contents of the system files. The signature computation is easy to derive but impossible to reverse. Thumb Printing: Thumb printing is a method of tracking intruders through a sequence of logins, referred to by the authors as a connection chain. While it is not intended to be an independent intrusion detection system, it could prove to be a valuable addition to other technologies. Thumb printing was developed by researchers at the University of California at Davis in response to a weakness in DIDS. Because DIDS is unable to correlate to parts of a connection chain when a user has exited and then reentered outside of the DIDS domain, thumb printing was devised to compare the content of the connections in the chain. Since commands issued by a user should remain the same as they pass through the various hosts in the connection chain, summaries of the content of connection at two points could be compared to determined if they were links in the same chain. The summaries would be generated by passively monitoring the network traffic at each host. A current weakness in this approach is that it assumes that the content of the connections along the chain are the same. As a result, the use of different encryption techniques by two points w o u l d r
e n d e r t h e m e t h o d i n t e l l i g e n c e t e c h n i q u e s t o t h e a r e a o f
i n t r u s i o n u s e l e s s . d e t e c t i o n h a s b e e n a n t i c i p a t e d f o r s e
v e r a l y e a r s . H o w e v e r , w h i l e e x p e r t s y s t e m s h a v e
R e s u l
t s o f S u r v e y
b e e n w i d e l y i n c o r p o r a t e d i n t o m a n y i n t
r u s i o n O v e r t h e p e r i o d o f o n e m o n t h , ( A p r i l 1 d e
t e c t i o n s y s t e m s , t h e e f f e c t i v e a p p l i c a t i o n o f M a y 1 , 1
9 9 6 ) , w e c o n d u c t e d a n i n f o r m a l A I h a s b e e n e l u s i
v e . S o m e o f t h e d i f f i c u l t i e s i n survey of computer users, administrators, applying AI to intrusion detection were m a n a g e r s , a n d o t h
e r s i n v o l v e d i n t h e p r e s e n t e d . H o w e v e r , t h e r e a r e t
a n g i b l e a r e a s
p r o t e c t i o n o f c o m p u t e r r e s o u r c e s . T h e s u
r v e y w h e r e A I t e c h n i q u e s c o u l d b e a p p l i e d t o
w a s n o t i n t e n d e d t o b e a s t a t i s t i c a l l y s o u n d p o l l i n t
r u s i o n d e t e c t i o n m e t h o d o l o g i e s i n t h e
o f i n
f o r m a t i o n s e c u r i t y p r o f e s s i o n a l s . I n s t e a d f u t u r
e . I n g e n e r a l , A I c o u l d p r o v i d e s i g n i f i c a n t
w e a t t e m p
t e d t o r e c e i v e i n p u t s o n t h e r e a l b e n e f i t s t o i n t
r u s i o n d e t e c t i o n t h r o u g h d a t a
w o r l d a p p l i c a t i o n o f
i n t r u s i o n d e t e c t i o n a n d r e d u c t i o n , t h e a b i l i t y t o a
n a l y z e a c o l l e c t i o n o f
prevention systems from a limited range of data to identify the most important individuals. The survey was disseminated over components, and classification, the process of the Internet to subscribers of several computer identifying intruders. security-related newsgroups. Because of this, we recognized that the results of the survey Improved Software Development
owever, the investment in the effected by intrusion detection technology. We reduction of software faults offers the have also reviewed of some of the significant return of increasingly secure systems. techniques which hold the promise of 3. Operational and administrative flaws are effectively protecting computer systems. The those which result from the improper security of
information in computerbased configuration of applications, operating systems and networks continues to be a major systems, and security systems. These flaws concern to researchers. The work in intrusion are also difficult to eliminate completely, detection techniques and methodologies but the removal of configuration errors which has been a major focus of information which are commonly known greatly security-related research in the past two enhances the security of the system. decades is certain to continue. The area of Regardless of the intended effectiveness of intrusion detection is continuing to evolve. future intrusion detection systems, the While a number of methodologies and tools existence of
unseen flaws can render the have been designed to assist in the mechanism useless. As software development identification of intruders, no definable techniques improve, and as the configuration standard has been developed which could o f finishedsy stemsbeco memore serve as the basis for a deployable intrusion straightforward , these types of vulnerabilities detection tool. However, as the processing should be reduced in the future. capabilities of computer systems improve and would be skewed toward those which are Techniques s e c u r i t y c o n s c
i o u s a n d t h o s e w h o h a v e W h i l e e n h a n c e d a u t o m a t e d
t e c h n i q u e s e x p e r i e n c e d a t t a c k s o n t h e i r n e t w o r k s . o f f
e r t h e p r o m i s e o f i m p r o v e d d e t e c t i o n
T h e r e w a
s n o t y p i c a l r e s p o n d e n t t o t h e a b i l i t i e s , a m a
j o r s o u r c e o f v u l n e r a b i l i t i e s i n s u r v e y . W h i l e m o s t o f
t h e i n d i v i d u a l s w h o c o m p u t e r s y s t e m s a n d n e t w o r
k s i s t h e r e t u r n e d c o m p l e t e d q u e s t i o n n a i r e s w e r e s t r
u c t u r e o f t h e o p e r a t i n g s y s t e m s a n d s o m e h
o w d i r e c t l y r e s p o n s i b l e f o
r a p p l i c a t i o n s o n t h e s y s t e m . M a n y o f t h e s e t
he innovative approaches to intrusion
Conclusion
detection continue to be developed, the
We have presented an overview of the creation of an effective intrusion detection technologies which are being utilized for the standard is inevitable detection of attacks against computer systems, and a survey of the experiences of those most a d m i n i s t e r i n g a c o m p u t e r n e t w
o r k , t h e r e w e r e v u l n e r a b i l i t i e s f a c i l i t a t e a t t a
c k s o n c o m p u t e r a l s o a s i z a b l e n u m b e r o f u s e r s ,
m a n a g e r s , s y s t e m s b y r e d u c i n g t h e a m o u n t o f
e f f o r t
c o n s u l t a n t s , a n d d a t a s e c u r i t y s p e c i a l i
s t s w h o r e q u i r e d b y a n i n t r u d e r t o g a i n a c c e s s o r f u r t
h e r r e s p o n d e d t o o u r r e q u e s t f o r i n f o r m a t i o n . e x t e n d e
x i s t i n g a c c e s s p r i v i l e g e s . T h e S i m i l a r l y , t h e r e
w a s a g o o d r e p r e s e n t a t i o n o f e m p l o y m e n t o
f s t r u c t u r e d s o f t w a r e t y p e s o f
o r g a n i z a t i o n s w h i c h e m p l o y e d t h e e n g i n e e r i n g t e c h n
i q u e s c o u l d e l i m i n a t e r e s p o n d e n t s , t y p e s o f o p e r a t i
n g s y s t e m s u s e d n u m e r o u s p o t e n t i a l s o u r c e s o f i n
s e c u r i t y . o n t h e n e t w o r k s , a n d n u m b e r s o f w o r k s t a t i o n
s T h r e e t y p e s o f f l a w s c o u l d b e a d d r e s s e d w i t h a n d u s
e r s o n t h e n e t w o r k s . T h e a r e a o f t h i s i m p r o v e d
d e v e l o p m e n t t e c h n i q u e s : s u r v e y w h i c h p r o v i d e d t h e m o s t
i n s i g h t f o r t h e 1 . D e s i g n f l a w s w h i c h r e s u l t f
r o m i n a c c u r a t e
p u r p o s e s o f t h i s p a p e r w e r e t h
e q u e s t i o n s i n t e r p r e t a t i o n o f s o f t w a r e r e q u i r e m e n t s w
h i c h a t t e m p t e d t o o b t a i n i n f o r m a t i o n o n a n d t h
e i m p r o p e r a n a l y s i s o f t h e i n t e n d e d i n t r u s i o n s w h i c h
h a v e o c c u r r e d t o t h e d e s i g n o f t h e s y s t e m c a n l e a d
t o t h e r e s p o n d e n t ' s n e t w o r k s . T h e q u e s t i o n s a s k e d i n c l u
s i o n o f n u m e r o u s u n i n t e n d e d e r r o r s i n w e r e i n t e n t i o n a
l l y v a g u e i n a n a t t e m p t t o t h e f i n a l a p p l i c a t i o n .
T h e u s e o f s t r u c t u r e d r e d u c e t h e d i s c l o s u r e o f s p e c i f i c
n e t w o r k s o f t w a r e v a l i d a t i o n a n d v e r i f i c a t i o n v u
l n e r a b i l i t i e s , t h e r e b y i n c r e a s i n g t h e n u m b e r m e t h o d s w
o u l d r e d u c e t h e n u m b e r o f t h e s e
References ! Anderson, D.,

Frivold, T. & Valdes, A. (May, 1995). Next -generation Intrusion Detection Expert System (NIDES): A Summary. SRI International
Technical Report, J.P. Anderson Company, Fort Washington, Pennsylvania. ! Castano, S., Fugini, M., Martella, G. & Samarati, P. (1995). Database Security. Addison-Wesley Publishing Company, New York. ! Denning, Dorothy. (February, 1987). An IntrusionDetection Model. IEEE Transactions on Software Engineering, Vol. SE13, No. 2. ! Staniford-Chen, Stuart. (May 7, 1995). Using Thumbprints to Trace Intruders. University of California, Davis. ! Smaha, S.E. (1988). Haystack: An Intrusion Detection System. Proceedings of the 4th Aerospace Computer Security Applications Conference. errors. of survey responses. 2 . F a u l t s w i t h i n t h e a p p l i c a t i o n
Technical Report SRI-CSL95-07. ! Anderson, J.P. (April, 1980). Computer Security Threat Monitoring and Surveillance.
o c c u r f r o m F u t u r e T r e n d s I n I n t r u s i o n t h e d
e v e l o p m e n t o f c o m p u t e r c o d e w h i c h d o e s n o t f o l l o w t h e d e
f i n e d s p e c i f i c a t i o n s
D e t e c t i o n R e s e a r c h
o f t h e
i n t e n d e d a p p l i c a t i o n . T h e c o m p l e t e A r t i f i c i a l I n t e l l i g e n c
e , N e u r a l N e t w o r k s e r a d i c a t i o n o f a l l c o d i n g e r r o r
s i s an d M a c h i n e L e a r n i n g e x t r e m e l y d i f f i c u l t , i f n o
t i m p o s s i b l e , t o T h e p r a c t i c a l a p p l i c a t i o n o f a r t i f i c i a l
ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f50524f46494c450001 0100000c484c696e6f021000006d6e74725247422058595a2007ce000200090006003100 00616373704d5346540000000049454320735247420000000000000000000000000000f 6d6000100000000d32d4850202000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000116370727400000150000 0003364657363000001840000006c77747074000001f000000014626b707400000204000 000147258595a00000218000000146758595a0000022c000000146258595a0000024000 000014646d6e640000025400000070646d6464000002c400000088767565640000034c0 000008676696577000003d4000000246c756d69000003f8000000146d6561730000040c0 000002474656368000004300000000c725452430000043c0000080c675452430000043c0 000080c625452430000043c0000080c7465787400000000436f707972696768742028632 92031393938204865776c6574742d5061636b61726420436f6d70616e790000646573630 000000000000012735247422049454336313936362d322e310000000000000000000000 12735247422049454336313936362d322e3100000000000000000000000000000000000 0000000000000000000ISSN : 0976-4712
Power of Parliament to Expel its Members from House

Pitresh Kumar Bhatt Lecturer, H.N.B.Garhwal University, Srinagar Garhwal In recent days, when a controversy arose, the basic and fundamental question raised by the members was about the power of Parliament to expel a member from House. When the sole object or a paramount consideration of granting powers, privileges and immunities to the members of Legislature is to ensure that they perform their functions, exercise their rights and discharge their duties effectively, efficiently and without interference of outside agency or authority, it is difficult to digest that in case of about or misuse of such privilege by any member, no action can be taken by the Legislature, the parent body. To know the real intention of the Disqualification are two different things. constitution makers here it seems to be The House can expel a member if his conduct appropriate to make a comparative study of renders him unfit to continue as such though it parliamentary power to expel its members does not ipso facto disqualify him for re-from the House in different countries election. The American Congress has the right including India.The House of Commons has to expel member or punish them for contempt all along exercised certain privileges peculiar of its authority in cases in which it has to itself. They may be listed thus; jurisdiction. In the Federal Constitution Art.1 (1) It has complete control over the regulation Sec 5, clause (2) provides that E a c h H o u s e of its own proceedings and the conduct of its may determine the rules of its 1 proceedings, members. punish its members for disorderly behavior, (2) It exercises the exclusive right of and with the concurrence of two-thirds, expel a providing for its own proper constitution in m e m b e r . W h a t t h e ' A m e r i c a n
6
any manner it deems fit. Jurisprudence' , has been stated about this (3) Nevertheless, the House retains the power privilege is; The power of either House of to decide upon the qualifications of any of its Congress to punish or expel its members for member to sit
and vote in Parliament.I t c a n cause is recognized in the constitution which expel a member if his conduct renders him provides that each House may punish its
3
unfit to serve as a member . Such a member member for disorderly behavior, and with the can be re-elected by his constituency unless concurrence of two-thirds, expel a member. the cause of expulsion is in itself a Punishment for misbehavior may, in a proper disqualification to sit and vote in the House of case, be by imprisonment and may be imposed Commons. In C o n s ti t u t i o na l La w o f for failure to observe a rule for preservation of England Wade & Philips5 also expressed the order. In the case of the Senate, the right to same view, which are as follows; The House expel extends to all cases where the offence is of Commons cannot of course create such as in the judgment of the body is disqualifications unrecognized by law but it inconsistent with trust and duty 7 of a member. may expel any member who conducts himself In Kilburn Vs Thompson, 8 it was held in a manner unfit for membership. Expulsion that Art.1 Sec 5(2) authorises each House to is the ultimate sanction against a Member. It is punish & expel its own members for an outstanding demonstration of the House's disorderly behavior. The provision also
9
power to regulate its own proceedings, even its authorises either the Senate or the House 10 to composition. The expulsion of a Member punish persons who are not members for cannot be challenged.C o n si d e r ing ab o v e contempt of itsauthority only in cases where it details it is quite clear that the Expulsion and has jurisdiction. It is implied and limited to the
105
extent of carrying out the granted legislative well as sentenced to imprisonment which
11
powers. Cooley in his 'Treatise on the ended with the purgation of the House a week Constitutional Limitations,' comments 12 as later. She again became the Prime Minister in follows:Each House has also the power to 1980. On May 7, 1981 the Lok Sabha rescinds punish members for disorderly behavior, and its earlier resolution characterising it as other contempt's of its authority, and also to politically motivated. The legislative expel a member for any cause which seems to judiciary conflict in matter of privileges still the body to render it unfit that he continue to exist in our country which it has come to an occupy one of its seats. This power is end in Britain. The reason behind this is that in sometimes conferred by the constitution, but it Britain the courts have not interfered, with the exists whether expressly conferred or not. It is House of Commons in privilege matters a necessary and incidental power, to enable the because they have treated the House as court House to perform its high functions and is and its warrant as that of a superior court.Here necessary to the safety of the State. we mention some leading cases which are From the above references, it is clear that related with the expulsion of members. in the United States, the House possesses the In Raj Narain V Atmaram Govind and 14 power of observance of discipline by its other the Petitioner challenged the members and in appropriate cases, such power resolution in the High Court of Allahabad extends to expulsion. In the Indian under Article 226 of the Constitution. Both the constitution history
there are certain instances judges forming the Division Bench of two wherein Indian Parliament has exercised the Judges ordered dismissal of the petition by power of expulsion of its members. Here we recording seprate reasons. Sapru ,J. conceded mention some of the most important cases that withdrawal of a members from the House which were decided by the Indian Parliament even for a brief period was a serious matter in the past to expel its member from the House. both for the member as well as for his One of such case was of Mr. H.G. Mudgal, a constituency but disciplinary or punitive Member of Lok Sabha. He concealed certain action for disorderly behavior of a members material facts as to his relationship with the could be taken. Mukherji, J. took the same Bombay Bullion Association and had a deal view. His lordship further held that the House with them in the name of H.G. Mudgal is the sole Judge of its own privileges In publication. Committee of Enquiry found the Yeshwant Rao V. Madhya Pradesh 15 charges proved. The finding of the Committee Legislative Assembly and Ors. It was was that Shri Mudgal's conduct was contented on behalf of the petitioner that the 'derogatory to the dignity of the House & House of Commons has the right to provide for inconsistent with the standards which its own constitutions and powers or fill Parliament is entitled to expect from its vacancies and it was because of that powers members'. While the resolution was being that that it could expel a member. Since the discussed, Mudgal resigned from the House. Legislative Assembly of M.P. had no such The House thereafter adopted an amended right, it could not expel a member. The Court, resolution declaring 13 that Mudgal had deserved However, negative the contention. expulsion. It observed that though Indian Legislature Mrs Indira Gandhi was held guilty of has no right to provide for own composition breach of privilege of Lok Sabha on the charge nor for filling of vacancies in the House, nor to that while she was the Prime Minister, she try election disputes, nevertheless it has power caused obstruction, intimidation, to some to expel a members for proper functioning, officials who were collecting facts about protection and self preservation . Sanjay Gandhi's Maruti Ltd to enable the I n H a r d w a r i L a l V s . E l e c t i o n 16 minister to reply to question tabled in the Commission of India, the Punjab & House. She was expelled from the House as Haryana High court held that a state legislature
106
can not clams to possess the power expel the the Report of inquiry Committee on the rd same member of legislature for breach of privileges day i.e. 23 December, 2005, the Lok Sabha for any misconduct out side the legislative Secretariat and also the Raja Sabha issued the assembly. Here it is appropriate to make a impugned notification notifying the expulsion reference that what Dr. B.R .Ambedkar, said of those M.Ps. with effect from 17 same date. in his speech in constituent Assembly debate; With regard to power of Legislature to expel The privileges of Parliament extend, for its Member the contentions of the petitioner instance, to the rights of Parliament as against before the Supreme Court were that [1] the the Public. Secondly, they also extend to rights Legislature has no power to expel its members as against the individual members. For since the Parliament has not enacted any law instance under the House of Commons, power which provides for expulsion of a member in a and privileges it is open to Parliament to specified circumstance, in term of enabling convict any citizen for contempt of Parliament power to legislate on the subject as available in and when such privileges is exercised the Article 105(3) of the Constitution. [2] The jurisdiction of the court is ousted. That is an expulsions are illegal, arbitrary and important privilege. Then again, it is open to unconstitutional. [3] There is no Provisions Parliament to take action against any either in the Constitution of India or in the individual Member of Parliament for anything Rules of Procedure and conduct of business of that has been done by him which brings the Houses of Parliament for expulsion of a Parliament into disgrace. These are very grave member by adoption of a motion and thus the matters, e.g. to commit to prison. The right to impugned act were beyond the jurisdiction of lock up a citizen for what Parliament regards Parliament. as contempt of itself is not an easy matter to Per SABHARWAL , C.J ( for himself, define nor 19 is it easy to say what are the acts and BALKRISHAN AND JAIN, JJ) (Majority). deeds of
individual members which bring Parliament into disrepute So it cannot be
Majority
View :
presumed that framers of our constitution did We have also noticed above that the not expect
that any wrong, by which Constitution makes express provisions for Parliament may bring into disgrace, may be election/appointment and removal/cessation done by the members. It clearly seems to me of service of the Executive (President and Vice that framers of constitution were well aware President), Judiciary (Judges of the Supreme about the wrong done by the members & hence Court and High Court) and all other they intended that action against them can be constitutional functionaries (Attorney taken under Art.105 or Art .194 as the case may General, Auditor and Comptroller General, be. Chief Election Commissioners etc). It is
The recent political storm: Raja Ram therefore inconceivable that the constitution
18
Pal Case : A Private channel had telecast a makers would have omitted to provide for
th
programme on 12 December, 2005 depicting 'expulsion' as one of the methods of cessation 10 M.P s of House of People (Lok Sabha) and of membership or consequential vacancy, if it one of council of State (Rajya Sabha) intended to entrust such powers to the accepting money , directly or through Parliament. In view of the express provisions middleman , as consideration for raising in the constitution as to when a person gets certain questions in the House. Another private disqualified to be a member of either House of
th channel telecast a programme on Parliament (and 19 thereby ceases to be a December, 2005 alleging improper conduct of member) and when a consequential vacancy another M.P of Rajya Sabha in relation to the arises, it is impermissible to read a new implementation of Member of Parliament category of cessation of membership by way Local Area Development scheme. This of expulsion and consequential vacancy, by incident was also referred to a committee. On resorting to the incidental powers, privileges
107
and immunities referred to in Article 105. put it beyond doubt that the protection against Clause (3) of Article 105 opens with the words legal action under Article 105 or 194 doses not in other respects. The provisions for extended to corrupt act. Suspension of the 'powers, privileges and immunities in clause member as a punishment for breach of (3) occurs after referring to the main Privileges privileges may not be sufficient in cases where of freedom of speech in Parliament, in clause a member discloses secrete information to out (1) of Article 105, and the main immunity side agency for money or expects money to against court proceedings in clause (2) of speak or vote in the house in a particular Article 105. Therefore, Clause (3) is intended manner. Such member is not fit for to provide for 'non-main' or 'incidental' or membership and the house should have power miscellaneous 21 powers, privileges and to get rid of such member . All this can be immunities which are numerous to mention. done only by making suitable amendment in Two things are clear from Clause (3). It is not article 105and 194. May observed 22 the intended to provide for the matters relating to purpose of expulsion is not so much no minati on/election , term of off ice, disciplinary as remedial not so much to punish qualifications, disqualification/cessation, for the members as to rid the house of persons who which express provisions are already made in are unfit for membership. Articles 80, 81, 83, 84, 101 and 102. Nor is it In recent years the parliamentary intended to provide for important privilege of privileges have been frequently misused by freedom of speech or important immunity the Members. Therefore the question has often from court proceedings referred to in Clause been raised whether privilege is justifiable at (1) and (2) of Article 105. By no stretch of all in modern times. Even those who favour its imagination, the power to expel a member can retention have been put on The defensive, in be considered as an 'incidental' matter. If such that admit that the Parliament should not claim a power was to be given, it would have been more than reasonable privileges and specifically mentioned. immunity, in order to discharge its functions. I am, therefore, of the considered view that In our country the abuses of privileges motion there is no power of expulsion in the has been repeatedly occurred which is a real Parliament, either inherent or traceable to danger to the democratic machinery of Article 105(3). Expulsion by the House will be Parliament form of Govt. All this happened possible only if Article 102 or Article 101 is because of the uncertainties as to the privileges suitably amended or if a law is made under of the House. There is urgent need for the Article 102 (1)(e) enabling the House to expel codification of what the privileges are and how a member found unworthy or unfit of they have to be protected. Codification of continuing as a member In view of the above, I privileges appears to provide so manyhold 23 that the action of the two House of advantages, As Subha Rao, J., in searchlight Parliament, expelling the petitioners is has strongly pleaded for the codification of violative of Articles 101 to 103 of the privileges instead of keeping this branch of Con s t it ut io n a nd th ere f ore , in v a li d . law in a nebulous state, It is quite right to say Petitioners, therefore, continue to be Members that if we have faith in democracy, we must of Parliament (subject to any action for entrust the chosen representatives of the cessation of their membership). Petitions and people with the power necessary for them to transferred cases disposed of accordingly. conduct their affairs smoothly. So the The 20 decision of majority that a member can Parliamentarians are equally expected to make be suspended temporally during the criminal dignified, proper and honest use of their proceeding against him seems to be good as privileges in the interest of people and in per the provision of Indian Constitution. But if accordance with the constitution. we think about the dignity, honor and respect The experience of P.V.Narshimha Rao's
24
of Parliament and its members it is essential to case and Raja Ram Pal's case indicates that it
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become necessary to amend Art 105(2) by necessarily include accepting money or any
Members - Share Study
Hub
inserting a new proviso, after the words Any valuable
consideration to speak or vote in a Committee thereof, in form of provided it particular manner. So what the Indian does not cover any corrupt act committed by legislature need is a liberal constructive any member in connection with their duties in attitude and total reorientation of the concept the House or otherwise. This Clause (2) of Parliamentary privileges by making should also have an explanation clause to codification of their power and privileges. the effect that the word Corrupt Act would
References :
1. Burdett vs. Abbott (1811) 14 East I
rd
2. Halsbury vol.28 (23 ), p.461

th
1.3. May: parliamentary practice (16 edn.), pp.115, 185,186 2.4. Case of John Wilkes, 32 Commons Journals, pp.228, 229
th
1.5. 2.6. 3.7. 4.8. 5.9.
7 edn, p.793 Second edn.,vol.77,p.21 Champan Re(1896)166 US 661;41Ed 1154 D.C. 103 U.S. 168 U.S. Vs. Klein Man D.C.107,F.Supp.407
1.11. Marshall vs. Goden 37, S.Ct 448 2.12. 1972 Edn.p.133
th
1.13. 2.14. 3.15. 4.16. 5.17.
Mudgal Case. Report of committee on the conduct of Member 25 of July 1951 Manu/U.P./0151/1954 A.I.R.1967M.P.95 ILR (1977) 2 P&H 269(FB) 8C.A.D., p.582
6.18. Rajka Ram Pal Vs. the Hon'ble Speaker, Lok Sabha (2007) 3 SCC 184 7.19. Ibid 20 Ibid
th
1.21. 2.22. 3.23. 4.24.
Prof. Kailas Rai: The constitutional law of India 10 edition p533 May: Parliamentary Practices, p105. M.S.M. Sharma vs. S.K.Singha A.I.R. 1959 SC.395 P.V.Nrashima Rao vs. State A.I.R. 1998 SC. 2120 Apex College Baran, Kota Atharva Institute of Management Studies, Mumbai Bangkok, Thailand Rama Degree College, Lucknow Leads Metropolitan India ,Bhopal Jiyalal Institute of Education ,Ajmer Bhavnagar University, Bhavnagar SMS Medical College, Jaipur Vellalar College for Women, Erode National Institute of Technology, Kurkshetra, Haryana Teerthanker Mahaveer University, Moradabad Shri Govind Guru Govt College, Banswara Govt College, Ajmer Al-Kharj University, Kingdom of Saudi Arabia Lt. M. J.Kundaliya Mahila Com. & B.B.A. College, Rajkot IPS College of Technology and Management, Gwalior HCTM, Kaithal , Haryana Jaipur National University, Jaipur M L Sukhadia University, Udaipur Kogi State University, Nigeria ING Vaishya, Bangalore Kuwait Gyan Vihar University, Jaipur Singhania University, Jhunjhunu Maharishi Markandeshwar University, Ambala C. Z. Patel College of Business and Management, Vallabhvidhyanagar Bangabasi Evening College, Kolkata Singhania University, Jhunjhunu C. Z. Patel College of Business and Management, Vallabhvidhyanagar Maharishi Markandeshwar University, Ambala
Abid Husain Aditi Mahajan Ashwani Goyal Bharat Ranjan Dr. Abhilasha Sharma Dr. Alka Saxena Dr. B. L. Ajmera Dr. Irfan Husain Dr. S. Kalaiselvi Dr. Kiran Mor Dr. Mausam Sinha Dr. Pooranmal Yadav Dr. Pragya Tank Dr. R. B Sharma Dr. Sheetal Vekariya Dr. Vinod Bhatnagar Ekta Aroa, Jeetu Singh Gaur Jiyasa Jain Michael Sunday Agba Naveen Gupta Pramod Garola Preeti Sharma Rafi Ahmad Rajni Kamboj Sailesh Kumar Thakur Satyajit Ghorai Sharad Panwar Shubhashish Mishra Sumedha Kalia
Urvashi Kalra Yusuf Ali
Maharishi Markandeshwar University, Ambala DTM College of Bio Sciences, Bikaner
ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f505 24f46494c4500010100000c484c696e6f021000006d6e747252474220 58595a2007ce00020009000600310000616373704d53465400000000 49454320735247420000000000000000000000000000f6d6000100000 000d32d4850202000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000000116 3707274000001500000003364657363000001840000006c777470740 00001f000000014626b707400000204000000147258595a0000021800 0000146758595a0000022c000000146258595a000002400000001464 6d6e640000025400000070646d6464000002c4000000887675656400 00034c0000008676696577000003d4000000246c756d69000003f8000 000146d6561730000040c0000002474656368000004300000000c725 452430000043c0000080c675452430000043c0000080c625452430000 043c0000080c7465787400000000436f7079726967687420286329203 1393938204865776c6574742d5061636b61726420436f6d70616e7900 00646573630000000000000012735247422049454336313936362d32 2e31000000000000000000000012735247422049454336313936362d 322e3100000000000000000000000000000000000000000000000000 0000 ffd8ffe000104a4649460001020100c800c80000ffe20c584943435f505 24f46494c4500010100000c484c696e6f021000006d6e747252474220 58595a2007ce00020009000600310000616373704d53465400000000 49454320735247420000000000000000000000000000f6d6000100000 000d32d4850202000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000000116 3707274000001500000003364657363000001840000006c777470740 00001f000000014626b707400000204000000147258595a0000021800 0000146758595a0000022c000000146258595a000002400000001464 6d6e640000025400000070646d6464000002c4000000887675656400 00034c0000008676696577000003d4000000246c756d69000003f8000 000146d6561730000040c0000002474656368000004300000000c725 452430000043c0000080c675452430000043c0000080c625452430000 043c0000080c7465787400000000436f7079726967687420286329203 1393938204865776c6574742d5061636b61726420436f6d70616e7900 00646573630000000000000012735247422049454336313936362d32 2e31000000000000000000000012735247422049454336313936362d 322e3100000000000000000000000000000000000000000000000000 0000
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84c696e6f021000006d6e74725247422058595a2007ce00020009000600310000616373704d53465 40000000049454320735247420000000000000000000000000000f6d6000100000000d32d4850202 0000000000000000000000000000000000000000000000000000000000000000000000000000000 00000000000000001163707274000001500000003364657363000001840000006c77747074000001 f000000014626b707400000204000000147258595a00000218000000146758595a0000022c000000 146258595a0000024000000014646d6e640000025400000070646d6464000002c400000088767565 640000034c0000008676696577000003d4000000246c756d69000003f8000000146d656173000004 0c0000002474656368000004300000000c725452430000043c0000080c675452430000043c000008 0c625452430000043c0000080c7465787400000000436f7079726967687420286329203139393820 4865776c6574742d5061636b61726420436f6d70616e790000646573630000000000000012735247 422049454336313936362d322e31000000000000000000000012735247422049454336313936362 d322e31000000000000000000000000000000000000000000000000000000
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ISSN : 0976-4712

Dr. K.S. Vatliya

1992. He analyzed the profitability, liquidity

textile industry, until the economic

Objective of the Study

n d s t w o w o r d s ' p r o f i t ' a n d ' a b i l i t y ' . P r o f i t a b i l i t y i s

public acceptance of products produced by

a p e r i o d o f globalization and Indian textile industry took

textile units. The annual reports have collected

ratios, percentages rather than the absolute data.

Return on Investment (ROI)

8.61 10.1 5 17.8 4

8.87 12.19 13.44

12.7 0 20.8 3 11.7 9

13.9 9 19.7 9 13.0 6

9.96 12.9 0 10.6 3

8.05 15.3 5 0.00

10.36 15.20 11.13

2.22 3.79 8.36

1.99 6.68 7.43

2.32 12.4 1 5.31

3.04 12.5 1 3.92

1.25 8.63 1.51

4.73 17.0 1 1.39

2.59 10.17 4.65

3.22 3.29 1.75

3.00 2.28 0.93

3.61 2.02 0.74

3.45 1.98 0.91

3.07 1.86 0.94

1.42 0.58 1.72

2.96 2.00 1.16

7.52 6.95 13.6 8

8.21 9.26 12.87

14.4 7 17.2 1 9.10

16.0 0 15.8 3 9.57

6.92 9.95 4.77

8.21 11.4 5 0.00

10.22 11.78 8.33

Efficiency and Profitability Relationship

Return on Net Worth and

average return on net worth of SSML and WIL

three units is uniform. It is evident from the

Between Groups Within Groups Total

123.055 9 258.858 4 381.914 3

1. Analysis of Sales and Assets :

Analysis of Leverage Position :

0.32 and 1.75 times respectively. The ratio

C.V. Current Ratio

Debt-Equity Ratio Debt

Equity Ratio and ANOVA

all three units is un

Table 5 Leverage Ratios (Times)

0.7 0.15 0.87

0.72 0.27 0.72

0.65 0.38 0.65

0.57 0.36 0.76

0.77 0.33 1.04

0.98 0.33 0.98

0.73 0.30 0.84

0.1 4 0.0 8 0.1 5

19.0 4 27.6 3 18.3 1

Table 7 Activity Ratios (Times)

5.1 1 2.6 6 8.8 5