1. Making Management Teaching Effective – Issues and Challenges

Pramod Pathak (Prof. & HOD), Preshita Neha Tudu (SRF), Department of Management Studies, Indian School of Mines, Dhanbad (Jharkhand)
Namarata Pathak (Management Consultant), Muscat (Oman)


Teaching management is increasingly becoming important as the need for the management teachers as well as demand for effective managers grows. However, how management needs to be taught has not been given the kind of attention that should have been. Apart from the basic teaching skills there are certain specifics that need to be addressed because teaching management is different in several aspects. A management teacher has to understand that teaching about management and teaching the art of managing are different. Most management teachers end up teaching about management rather than about managing. This difference must be borne in mind before management can be taught effectively. There is need to first understand what management is all about. Interestingly there is more confusion then clarity and definitions galore hardly help. Management being an inter-disciplinary subject a wider appreciation of social sciences is required. Management teachers must first enrich themselves with the allied disciplines like Economics, Political Science, Commerce, Sociology, etc. Psychology of course is the most important of the disciplines for managers. The present article deals with the issue elaborately.Download Full Paper

2. Primary Education in India: Role and Responsibilities of School Management Committee (Under Right to Education Act)

Ritesh Dwivedi (Asstt Prof.), Amity School of Rural Management, Amity University Uttar Pradesh, NOIDA (NCR)
Arunima Naithani (Development Professional), Educational Technology and Management Academy, New Delhi


India is more illiterate than it was fifty or hundred years ago. The socio-economic conditions in rural India have decayed, declined and deprived the primary education system. Equally the social and economic inequalities of caste, class and gender have been identified as the major causes of education deprivation among the children majorly in rural India. Enrolling all boys and girls in school by 2015 is one of the most important millennium development goals of India. And India will do that probably earlier than the UN target date through non-formal, formal and inclusive education. Thus to achieve this Right to Education Act has been enacted across the nation.

The new rules under the this Act mandates 75% members of School Management Committee (SMC) should be parents so that effective monitoring mechanism can be established at grassroots level itself. This is a key decision which can lead towards the revolutionary changes in education landscape. The SMCs have been given the power to monitor the working of schools and utilization of grants. For SMC to be an effective institution to regulate and manage a village school, it must understand its importance, know its responsibilities and must perform and deliver proficiently. It should ensure that every child in a village enjoys his or her fundamental right of free and compulsory education. The term ‘Education’ now has to be accepted with much greater responsibilities than before. Until now the focus has been only on producing Quantity that is large number of doctors, engineer, etc. But with the moving trends of surplus employment opportunities in any sector, it’ll definitely shift from Quantity to the Quality part within the learning generations. Thus, the main focus will be on producing better human beings rather than incompetent beings. And this can only be achieved by providing the education sector with the right blend of opportunities, amending education as an exercise in quality with quantity matched to what our economy can imbibe.
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3. Exploring the Stock Market Volatility with BRIC Countries – An Empirical Investigation

P. Hemavathy (SRF); S. Gurusamy (Prof. & HOD), Department of Commerce, University of Madras, Chennai (Tamil Nadu)


Stock market is widely considered as a major indicator to imitate investor’s outlook of futuristic economic conditions. Investors in the BRIC countries have found out the hard-hitting line of attack that economic development may not convert into stock market gains, and numerous analysts criticize problems with corporate governance in Russian and Chinese markets. Volatility in equity market has happened to be an issue of reciprocated concern for investors, regulators and brokers. It is mainly understood that the stock price volatility is originated exclusively by the haphazard influx of new information connecting to the expected returns from the stock. The stock markets functioning in BRIC countries have had its reasonable share in the global financial crisis provoked by unnecessary speculation resulting in extreme volatility. Indubitably, the investor’s buoyancy has been eroded by excessive volatility of Stock Markets in BRIC nations. The volatile stock market is a severe concern for policy makers since the stock market fluxes creates improbability and thus unfavorably has an effect on economic growth. This study aims to develop and examine the conditional volatility models in an attempt to confine the prominent features of volatility in stock markets in BRIC countries. This empirical study is focused on BRIC emerging markets. The study is based on secondary data acquired from Bloomberg database. The researcher have collected daily closing stock prices from its respective exchange i.e, (IBOVESPA) for Brazil, (RTSI) for Russia, NSE (S&P CNX NIFTY) for India, (CSI300) for China. The researcher undertakes the popular econometric technique such as GARCH model to study the behavior of volatility of Stock markets in BRIC Countries. Results reveal that China reflects high degree of volatility of series returns among the BRIC countries. This long-lasting volatility in the stock market has been disappointing issue for the retail investors to invest in equity markets and boosted the obsession towards bullion industry in china. The researcher concludes that higher volatility is both gesture and a vehicle of uncertainty. Credit rating agencies act as driver of the stock market volatility. Credit rating agencies play a significant part in providing one source of information that aids accuracy and market capability, thereby plummeting the imbalance of information among the stock market investors.
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4. Analysis of Option Combination Strategies

Suresh A.S. (Asstt. Prof.), Dayananda Sagar College of Engineering, Bengaluru (Karnataka)


The investors are really facing very hardship in adding value and surviving their investment fund because of global economic slowdown, inflation rate, exchange rate, straightforward investment policy and shortage of financial literacy. That’s why most of investors need to hedge against risk (minimize risk) and maximize return with efficient portfolio management and diversification. There is a great need to evaluate the red flags and gold nuggets from various financial and real assets alternatives based on different parameters and it can be found which combination of assets are more able to cope up with the changing environment for wealth creation.

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5. Establishment of effective purchase management system: A Study of leading manufacturer of wire and strands in Eastern India

Harmeet Kaur (Asstt. Prof.-Finance), Mahuya Deb (Asstt. Prof.-Operations), Usha Martin Academy, Ranchi (Jharkhand)


With the industrialization and the liberalization of the economy, the Indian economy has undergone a drastic changein the previous years. Every business unit now aspires to maximize their profits in order to survive the ever increasing competition. With the expansion and diversification of business, the volume of transactions getting larger, a company needs a sound systematic and effective purchasing system to minimize the acquisition cost of materials. The paper endeavors to analyze the purchase management system followed in the manufacturing unit under study and identification of the bottlenecks which creates resistance in the smooth functioning of the business. Further an attempt is made to formulate a system which is more cost effective and time saving. The proposed suggestions can lead to practically significant revenue enhancement.
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6. Board Composition Affecting IPO Grade: A Logistic Regression Approach

Souvik Banerjee, (Asstt. Prof.), Sri Sri Institute of Management Studies, Margao (Goa)


In India an important experiment in the form of IPO (Initial Public Offer) Grading took off in 2007. Rating of debt instruments is a universally accepted practice, however Indian capital market regulator SEBI (Security Exchange Board of India), pioneered the concept of equity instrument rating. One of the criterion on which IPO bound companies, are evaluated is corporate governance. Composition of the board of directors is an important aspect, on which corporate governance depends. In this research paper, it is explored whether number of directors in the board, exposure of the independent directors in terms of board membership in other firms and also the number of the independent directors in the board have any bearing on the grade assigned to an IPO bound company. Results show, that out of these three factors, two factors namely board size and independent director’s exposures have statistically significant effect on the grade obtained by the companies. Bigger boards with more directors, and more independent directors with board membership in other firms results in higher grade being obtained by the IPO bound companies.

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7. A Study on Levels of Employee Participation with the Hierarchy in Banking Sector: A Comparative Study of SBI & HDFC

Anchal Pathak (Asstt. Prof.), School of Management Sciences, Varanasi (Uttar Pradesh)


After 1991, the banking scenario has been changed completely, the impact of globalization and privatization has affected work culture of both public and private sector banks. The need for some form of employee or worker involvement was felt in the mid-1950s and 1960s, well after independence, and more by the government than by the employers because of the need of rapid industrialization. The greatest and widely accepted benefit of participation is the increased work ownership of employee. An employee is better able to relate himself/herself with his or her work and this improves performance and efficiency at work. This paper study the levels of employees participation at different hierarchical level in both public (SBI) and private (HDFC) sector banks in east region of Uttar Pradesh. To measure the participation level of employees, Psychological Participation Index (PPI) was used which was developed by A.P Singh and D.M. Pestonjee. Further t-test, Chi- square test and ANOVA were applied and it emerged from the study that with the increase in hierarchical level the participation increases in SBI whereas no such relationship was found in HDFC bank.

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8. Different Perspectives Affecting The Satisfaction Level Of Employees In An Organisation

Maddhu Jasola, (Assoc. Prof.), New Delhi Institute of Management, New Delhi


India began with a mixed economy consisting of a state-owned public sector, and a private sector subject to industrial licensing and many administrative controls on imports, exports and foreign exchange. The global economy of the day has endangered the survival of every organization and in particular those who want to have a competitive edge over the others. The competitive edge may be a distant dream in the absence of superior quality products and services which otherwise is the function of well-satisfied employees. The better performing companies have raised their market share and profits for inclusive growth. In the competition for talent, companies have raised the total managerial compensation, consisting of salaries, allowances, bonuses, benefits, stock options. The paper enumerates the analysis of various factors that affects the satisfaction level of employees in the organization. It helps in identifying employee satisfaction level from different perspectives as opportunities to learn and grow, knowledge of mission and purpose, regular feedback, discuss personal and work related problems, welfare facilities etc. the perceived importance of satisfaction factors and the issues causing dissatisfaction. Research shows that satisfied and motivated employees will create higher customer satisfaction and in turn positively influence organizational performance for inclusive growth.Download Full Paper

9. HR Practices in Northern Railway Primary Cooperative Bank Ltd.: A Case study

Sitaram Rao (Research Scholar), Department of Management Studies, University of Magadh, Gaya (Bihar)
Kamlesh Kumar (Prof. & HOD), Deptt. of Business Administration, A. N. College Patna (Bihar)


Human resource is of paramount importance for the success of any organization. It is the wealth of an organization which can help it in achieving its goals. Human Resource Management is concerned with the human beings in an organization. It reflects a new outlook which views organization’s man power as its resources and assets. Human resource is the total knowledge, abilities, skills, talents and aptitudes of an organization’s work force. The values, ethics, beliefs of the individuals working in an organization also from a part of human resource. The resourcefulness of various categories of people and other people available to the organization can be treated as human resources. In the present complex environment, no business or organization can exist and grow without appropriate human resources. It is understood that cooperative banks approach human resource management from the working perspective and their financial performance suffers as a result. Instead of focusing on how to execute strategy through the performance of the employees in many cooperatives banks, the first priority is cost control and the focus often begins with the Human Resource Function. NRPCB Ltd. has passed through nine decides of its existence. At the same time, human resource management has been neglected field in NRPCB Ltd. over a period of time and poor image of cooperative bank employees in the society affects their morale. It has been only recently that there has been a greater recognition of this function.
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10.Telecommunication ownership and user preferences in Kumaun region of Uttarakhand – Implications for Universal Service

Rajeev Kandpal (Research Scholar), Kumaon University, Nainital (Uttarakhand), Director-DoT,
NS Bisht (Prof.), Faculty of Commerce and Management Studies, Kumaon University, Nainital (Uttarakhand)


This paper uses survey conducted upon 2026 individuals in four districts of Uttarakhand, India to study the ownership patterns and user preferences in telecommunication technology. Results reveal that non-ownership (ownership of neither personal mobile nor landline telephone) is more prevalent amongst females, lower income segments, rural areas, uneducated and higher age groups. Even at the same income levels, the probability that a respondent has neither a landline nor a mobile is much higher in rural areas than in urban areas. Users who subscribe to only one form of communication show a strong preference for the mobile phone. Mobile phone only is the most popular form of ownership, and is much more prevalent in the rural and lower income segments. The results suggest the necessity to review the current approach to universal service which predominantly employs the rural-urban divide as the sole segmentation criteria. Further, even though mobile telephony has thrown open access to areas previously un-served by landline telephony, the present Universal policy provides for direct subsidy only on landlines. In the name of increasing penetration, the policy may be subsidizing usage of a technology (landline) which is no more in demand.
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11. Impact Analysis of FDI on Insurance Sector in India

Aamir Hasan, Anuna Education Network, Lucknow (Uttar Pradesh)


Parliament has passed Insurance Laws (Amendment) Bill, 2015. It was first passed in Lok Sabha on 4 March 2015 and later in Rajya Sabha on 12 March 2015, which will become an Act when the President signs it. The amendment bill aims to bring improvements and revisions in the existing laws relating to insurance business in India. The bill also seeks to remove archaic provisions in previous laws and incorporate modern day practices of insurance business that are emerging in a changing dynamic environment, which also includes private participation. It is expected that the foreign investment would bring about 20,000-25,000 crore in short funds. The amendment bill hikes Foreign Direct Investment (FDI) cap in the insurance sector to 49 percent from present 26 percent. The foreign investment in insurance would be routed under foreign direct investment, foreign portfolio investment, foreign venture capital investment, depository receipts and NRIs. Insurance companies are permitted to raise capital through instruments other than equity shares. Instruments would be specified through separate regulations by the Insurance Regulatory and Development Authority of India (IRDA). However, the voting rights of shareholders are restricted only to equity shares. Sale of shares over 1% of the total equity share capital and purchase of shares resulting in total equity share capital of more than 5%, requires the prior approval of the IRDA. It also adds provision for the establishment of Life Insurance Council and the General Insurance Council. These councils will act as self-regulating bodies for the insurance sector. The bill also grants permission to PSU general insurers to raise funds from the capital market and increases the penalty to deter multilevel marketing of insurance products. There is a strong relationship between foreign investment and economic growth. Larger inflows of foreign investments are needed for the country to achieve a sustainable high trajectory of economic growth. A major role played by the insurance sector is to mobilize national savings and channelize them into investments in different sectors of the economy. FDI in insurance would increase the penetration of insurance in India; FDI can meet India’s long term capital requirements to fund the building of infrastructures. The present paper focuses on the overview of the Indian insurance sector along with the opportunities due to expansion of FDI in insurance in India and the major challenges that it faces.Download Full Paper

12. Evaluation of Surrogate Advertising and Its Legal Measures wsr to India

Chandrashekhar Singh (Asstt. Prof.), School of Management Sciences, Varanasi (Uttar Pradesh)


Surrogate advertising is done when the original product is not allowed to advertise itself on mass media. In India, alcohol brands are not allowed to give advertisements on television, so alcohol marketing firms use surrogate products like mineral water, soda, juice to hit consumers with the brand name. The brand name of the alcohol product is the same as the surrogate product. In the context of Alcohol and tobacco marketing, the only way to succeed to present a surrogate advertising which remind to regular users as well as creating curiosity among non-users. One essential function that surrogate advertising does is that of brand recall and not necessarily an exercise in increasing sales. The product shown in the advertisement is called the ‘surrogate.’ The surrogate could either resemble the original product or could be a different product altogether, but using the established brand of the original product. The sponsoring of sports/cultural/leisure events and activities using a liquor brand name also falls in the category of surrogate advertising. This paper critically examines the various factor of surrogate advertising like evolution of surrogate advertising, their impact, and emerging trends in surrogate advertising, increased awareness. It also studies the continuously changing scene of different aspects of surrogate advertising.Download Full Paper




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