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Editorial Board A Refereed Monthly International Journal of Management
Prof. B. P. Sharma
(Editor in Chief)
Prof. Mahima Birla
(Group Editor)
Dr. Khushbu Agarwal
(Editor)
Ms. Asha Galundia
(Circulation Manager)

 Editorial Team

Dr. Devendra Shrimali
Dr. Dharmesh Motwani
Mr. Jinendra Vyas
 
                                              
September 2017

 Name : Index
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 Name : An Empirical Analysis of Patient's Perception regarding Health Care Service Quality: A Case Study of Public Hospitals of Punjab
 Author : Dr. Harinder Singh, Ms. Navalpreet kaur
 Abstract :
In this dynamic environment, health care service seekers preferences keep on changing rapidly. Patients are becoming more demanding in terms of quality they entail, in services they obtain at the hospital. Nowadays, quality in health care services is at the forefront of specialists & professional, as it is one of the most important steps towards sustainability and introducing changes in the health care sector. Organizations need to concentrate, comprehend, and keep themselves rationalized, to the changing needs of patients recurrently. Literature affirms, SERVQUAL instrument was used to measure the service quality in health care by various researchers. In the light of above, this study is conducted to check the suitability of SERVQUAL scale, in the context of health care service quality provided at public hospitals in Punjab, India. Along with that, various factors influencing patients perception regarding service quality were also explored and identified in order of importance. Data was collected from 375 respondents, from seventeen public hospitals situated at urban areas, in three different cities of Punjab i.e. Amritsar, Jalandhar, and Ludhiana. Data was analyzed using statistical techniques like mean, standard deviation, cronbach's alpha and EFA using SPSS 20. Findings of this study revealed reliability of data as well as the suitability of twenty one item servqual scale in context of Punjab. The outcome of EFA identified five factors which were responsiveness (variance explained 15.351), tangibility (variance explained 14.807), reliability (variance explained 12.946), assurance (variance explained 10.622) and empathy (variance explained 10.605). Results of this study can direct policy makers and health care service providers towards the areas, which need more attention so that they could provide best possible service to the patients. Keywords: Patients Perception, SERVQUAL, Punjab, Public Hospitals, EFA
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 Name : Impact of Work Motivation and Locus of Control on Organizational Commitment amongst the Private University Teachers
 Author : Dr. Amardeep kaur Ahluwalia, Kamal Preet,
 Abstract :
The purpose of this study is to investigate the levels of organizational commitment, work motivation and locus of control among the Private university teachers of Punjab. The data was collected from the sample of 210 teachers. Work preference inventory scale (Amabile et al. 1994), organizational commitment questionnaire (Meyer et al. 1993) and work locus of control scale (Spector, 1998) were used. Data was analyzed by using weighted average scores. Relationship of constructs was analyzed by using structural equation modeling. Findings revealed higher level of extrinsic motivation than intrinsic motivation amongst the teachers. Highest level of normative commitment followed by continuance and affective commitment was found. Also, externally oriented locus of control was found predominant amongst them. It is found that external locus of control positively leads to normative commitment and intrinsic motivation negatively leads to the normative commitment. Negative impact of extrinsic motivation is found on affective commitment. Keywords: Intrinsic Motivation, Extrinsic Motivation, Affective Commitment, Continuance Commitment, Normative Commitment, Locus Of Control, University Teachers.
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 Name : Competency based Human Resource Practices and Organisational Productivity - An Empirical Evidence from Indian Companies.
 Author : Sateesh.V.Shet, Dr.S.V.Patil, Dr.Meena.R.Chandawarkar
 Abstract :
Purpose - This paper reports the findings of a study examining the relationship between “Competency Based Human Resources Practices” and “Organisational Productivity”. Design / Methodology / Approach - Competency Based HR Practices, Organisational Productivity were assessed in an empirical study based on a sample of 161 respondents in companies based in India having Leadership Competency practices. Findings - The findings from Structural Equation Modelling (SEM) reveal that the competency models are influencing Human Resource Practices in Succession Planning, Capability Building, Superior Performance, Better Selection, and Assessment Centre. The direct relationship between competency Based HR practices and Organisational Productivity and Adaptability was found. Practical Implications - The framework provided in this paper helps practicing managers using leadership competencies to effectively apply in Human Resource practices for specific strategic needs of the organisation. The paper also highlights the significance of Organisational productivity from competency based HR perspective. Originality / Value – The relationship between “Competency based HR Practices” and “Organisational Productivity” were explored theoretically and tested empirically in an Indian context. Keywords: Competency Model, Leadership Competencies, Organisational Productivity, Competency Based HR Practices.
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 Name : Influence of Organizational Citizenship Behavior on Intension to Quit among Service Sector Employees: Investigating the Mediating Role of Affective Commitment
 Author : Dr. Sapna Premchandani, Dr. Manish Sitlani
 Abstract :
This study investigates the extent to which affective commitment mediates the relationship between citizenship behavior (OCB) and intention to quit the organization. Affective commitment is examined as a mediator between OCB dimensions such as Altruism, Sportsmanship, Courtesy, Civic Virtue and intention to leave the organization. A structured questionnaire was used to collect the data from 450 service sector employees. The main purpose of this study was to propose and test a research model to have a better understanding of the connection between OCB and intention to quit through the mediating role of affective commitment. Data was analyzed through CFA, SEM and Mediation analysis. Results of the study indicated that proposed structural model was found to be fit and mediation analysis indicated that affective commitment did not mediates the effect of altruism on intention to quit the organization, whereas sportsmanship produced significant indirect effect with full mediation. Further, affective commitment partially mediates the effect of civic virtue and courtesy on intention to quit the current organization. Keywords: OCB dimensions, Altruism, Sportsmanship, Courtesy, Civic Virtue and intention to quit, affective commitment etc.
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 Name : Shareholder's Wealth and Dividend Behavior: A Study with reference to Indian Auto Industry
 Author : Ranjit Kumar Paswan
 Abstract :
A Dividend is the distribution of a portion of company's profit among the shareholders. A company when earns a profit or surplus, it can reinvest it in the business as retained earnings an pay a fraction of the earnings as a dividend to the shareholders. The shareholders get the amount of dividend in proportion to the amount paid on the shares held by them. The declaration of dividend protects the interest of the shareholders. The dividend policy not only creates the value for the enterprise but also maximize wealth of the shareholders. New investors always expecting stable dividend behavior of a company in which they are going to invest. In this paper an attempt has been made to examine the impact of dividend declaration on shareholders' wealth of selected auto industry in India. The study is conducted for a period of ten years started from 2008-09 to 2013-14. Relevant statistical tools and techniques have been applied to conduct the study. Keyword: Dividend, Earnings, Auto Industry
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 Name : Implications of Ethnocentric Tendencies among Indian Car Buyers: Scale Refinement and Analysis of Dimensionality
 Author : Arham Adnan, Dr. Mohammed Naved Khan
 Abstract :
India is witnessing a plethora of foreign and domestic products competing against each other in its retail market. In order to understand how ethnocentrism among Indian consumers toward foreign/domestic products, this study aims to understand the consumer ethnocentric tendencies (CET) among Indian consumers. Though, results have shown that consumer ethnocentrism does impact behavior of the consumer regarding foreign-made products, yet researchers have observed that the results are not consistent across nations and cultures. Thus, there exists a pressing need for replicative as well as extension studies in the area.In the light of the above, the purpose of the present paper is to explore the underlying meaning and significance of the concept of consumer ethnocentrism with special reference to India. As a first step, the researchers have tried to explore the ethnocentric tendencies prevalent among the Indians. The original 17-item versiondeveloped by Shimp and Sharma in 1987, is one of the most commonly used scales in the marketing literature. There are many empirical applications using other adapted versions of CETSCALE.Some of these papers question the uni-dimensionality of such a scale. We intend to analyse the dimensionality of the CETSCALE. In addition, we analyse the dimensionality of an adapted version of the CETSCALE including the product category (automobiles) under study. Keeping that objective in mind,CETSCALE was administered on a representative sample of students. It is expected that the findings will provide vital inputs to marketers in dovetailing their marketing strategies as also prevent them from committing the mistake of imposing perspectives applicable to other cultures and nations.Implications are provided for both Indian and foreign marketers to successfully promote their products to Indian consumers. Keywords: Consumer Ethnocentrism, Cetscale, Automobiles, Consumer Behaviour, India.
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 Name : Relevance of Group Profile Variables for the Performance of Self Help Groups in Haryana.
 Author : Dr.Meenu Maheshwari, Dr. Shobhna Goyal,Dr. Ashok Kumar Gupta
 Abstract :
Introduction Deprivation from the benefits of economic development is one aspect of social exclusion. Gender based exclusion has been a phenomenon in all developing nations including India. And the exclusion keeps some of the classes amongst the disadvantaged section of the society. It is believed that poor have no voice in determining the resource allocation. So lack of access to formal financial resources put them in an exploitative state as their inability to access becomes the privilege of the rich and educated. Hence, a need was felt to link the poor with the mainstream by credit provisioning. However, it is the biggest challenge for the policymakers to make formal finance easily accessible for the most disadvantaged sections of the society comprising landless farmers, labourer, women, differently abled etc. In most of the developing countries the formal banking machinery does not apprehend microfinance as a profit model as well as perceives it as a less credit worthy and risky model in the absence of collaterals. At this juncture where the goal and approach of the banking system is contradictory, microfinance has emerged as a major intervention to empower women and to alleviate poverty. Microfinance in India is exercised through various models but Self Help Group model is the most commonly adopted model by the service providers as well as beneficiaries. This solidarity saving lending scheme has been initiated by NABARD in 1992 with primary focus on women empowerment and poverty alleviation considering the fact that women have been an object of subjudication in terms of social, economic and political sense since ancient times but women emancipation as a measurement of social development index is gaining importance the world over. As a matter of records women constitute half of the world population but their representation in organized sector is very low, due to which they are amongst the poorest of poors. Social economists world over have opined that increased participation of women in gainful employment through microentrepreneurship might empower women. An empowered woman is an asset to the society and economy as a whole as empowerment results in self confidence to critically analyse the surroundings and taking control over decisions affecting her life.
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 Name : Factors Affecting Entrepreneurs' Decision towards Buying a Smartphone
 Author : Abhimanyu Singh Parihar,Dr Shikha Chaturvedi,Shubhi Vyas
 Abstract :
In today's era communication has been much facilitated with the help of smartphones as it provides various features and functions which make one's life easy and comfortably connected. It plays an important role in people's life in general and entrepreneurs' life in particular because it helps in quick information access which enables them to take quick decisions. Therefore entrepreneurs can form an attractive target segment for smart phone marketers. However, the purchase decision of smart phones is affected by various factors. This study attempts to identify such factors. Along with that, the effect of age (based on what generation are they from), gender, and the interaction between age and gender is also studied to understand the difference in buying decision towards smartphones. For this purpose the data is collected from 100 entrepreneurs on a 5- point Likert scale. The data so obtained is analysed by using factor analysis technique and F-test. Preference and social influence, brand image and attractiveness, and business utility have emerged out as most prominent factors affecting the decision for purchasing smart phones amongst the entrepreneurs. Keywords: Factor Analysis, Preference and Social Influence, Brand Image & Attractiveness, Target Segment, Entrepreneurs, Smartphones.
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 Name : Performance Pattern of PGDM Students Using Two Step Clustering
 Author : Jaya Srivastava, Dr. Abhay K Srivastava
 Abstract :
Clustering is the first step to discover knowledge from the databases. It provides convenience to researchers who are willing to extract hidden information from databases. It simply groups data showing similar characteristics in order to bring homogeneity within it and heterogeneity among other clusters. That is why it is termed as unsupervised learning since it is not pre-dictated by certain set of rules and boundaries. Its achieves simplification in datasets by bringing it to fewer clusters but at the cost of losing some minor details due to compression of data. Through SPSS one can easily perform clustering on sufficiently large data sets. There are three different methods in SPSS to group data without any supervision: hierarchical clustering method, k-means clustering method, and two-step clustering method. With a large data file or where there are mixed set of variables, continuous and categorical, SPSS two-step clustering procedure offers a convenient method to interpret clusters which is a major concern in hierarchical and k-means clustering. In this paper we have demonstrated the use of two step clustering by taking academic records of PGDM students in two consecutive sessions to discover some hidden information. The objective of the study is to discover some useful pattern about students' performance in B Grade business schools that can help stakeholders to formulate strategies to improve its quality of intake students. With the use of this procedure we are able to extract easily some interesting information that can be used by academic institutions to design its academic and training program to improve students' performance as well as its brand value. Keywords: Two step clustering, Academic performance, two way ANOVA, Hierarchical Clustering, K-means Clustering, PGDM (Post Graduate Diploma in Business Management).
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 Name : A Study on Impact of Demonetization on Indian Stock Market and Selected Sectors of Indian Economy
 Author : Ashok Bantwa
 Abstract :
While addressing India in his historical speech on 8th November, 2016, prime minister of India, Narendra Modi announced that two highest denomination currency notes in India (500 rupee notes and 1000 rupee notes) will not remain legal tender. Demonetization is one of the most remarkable decisions of Indian government aimed at eradication of black and counterfeit money and control of terror funding. This decision is expected to bring significant change in mode of payment used by Indian people and will transit India towards the cashless economy. Undoubtedly the exact impact of demonetization on Indian economy can be figured out only in long run but in short run demonetization has considerable impact on people, businessmen, small and medium scale industries, companies and economy. This paper examines the impact of demonetization decision on Indian stock exchange as represented by NIFTY index of National Stock Exchange .The paper further examines the impact of demonetization decision on various sectors of Indian economy as represented by various sectoral indices of National Stock Exchange. These sectors include Automobile, Banking, FMCG, Information Technology, Media, Metals, Pharmaceuticals, Real estate, Infrastructure, Private sector banks, Public sector banks, Financial services and Service sector. The result of this study indicated that demonetization has statistically significant impact on all the indices under study. Considering the absolute percentage change in closing price of indices within 30 days of demonetization decision, demonetization has negative impact on all the indices except IT index. Except media index and pharma index the volatility of all other indices under study has increased considerably due to demonetization. Average closing price of NIFTY for 30 days after the demonetization is 5.78% lower than the average closing prices for 30 days before the demonetization. The absolute fall in NIFTY after one month of demonetization is 5.64%. Among the sectoral indices the highest impact of demonetization is on real estate sector followed by media and automobile sector whereas the lowest impact is on metal index followed by PSU banks and IT sector. Keywords: Demonetization, Black Money, Liquidity Crunch
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 Name : Factors Affecting Talent Management in Governmental Organizations: A Succession Planning Approach
 Author : Ali Mahfoozi,Sanjar Salajegheh, Mahmoud Ghorbani, Ayoub Sheikhi
 Abstract :
Talent management has been received increasing attention over recent years. The elites play a pivotal role in maintaining comparative advantages against rivals. Elitism is a perspective required to be adopted throughout all levels of a company or an organization. This study was intended to design a conceptual model of talent management based on succession planning approach by using evidence from governmental organizations in Mashhad, Iran. This developmental applicable research was performed through qualitative methods including the review of literature from 1999 to 2016 and the Delphi survey technique. The findings of this study showed that governmental organizations can manage talent flows by considering three main constituents, 'strategy of talent management', 'talent management', and 'succession planning'. 'Talent management' is affected by 'talent's way of thinking' and 'talent strategy'. Moreover, 'strategy of talent management' refers to communications, employee planning, performance management, rewards and recognition, and culture. 'Succession planning' is implemented through developing structure, context, and content. Keyword: Talent Management, Succession Planning, Governmental Organization, Talent Strategy
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 Name : Impact of Brand Image on Brand Loyalty and Brand Equity in Banking Sector: A Case of State Bank of India
 Author : Ms Ankita Neema, Dr Geeta Nema
 Abstract :
In today's competitive business environment, banks operate in a severe rivalry due to various factors, including globalization, fast technological developments and homogeneous nature of banks services. For this reason, strong brand image is crucial in differentiating banks and adding value to the banking services. The present study aimed at investigating relationship among brand image, brand loyalty and brand equity in banking sector. The data in this study were collected from a sample of 100 customers of State Bank of India (SBI) in Indore region. Data collection was done through personal administration of a close-ended structured questionnaire to the sample respondents. Obtained data from the questionnaire were analyzed using SPSS software. Presented hypotheses in this study were examined using Pearson coefficient of correlation and regression analysis. The results reveal that bank brand image has positive effects on brand loyalty and brand equity. It means that a positive brand image not only increases customer loyalty directly, but it also enhances brand equity of banks. Keywords: Brand Image, Brand Loyalty and Brand Equity
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 Name : Conducting Financial Analysis of the Indian Reinsurer-GIC Re.
 Author : Dr. Sumninder Kaur Bawa, Neha Verma
 Abstract :
Reinsurance is among the most important risk and capital management tools in the hands of the insurers. It is a means of insuring insurance companies.Insurance companies transfer the risk that they cannot handle to the reinsurance companies.IRDA stipulates that every insurance company must have an appropriate reinsurance programme in order to keep its solvency intact. The growing Indian market has realized that reinsurance is not merely a risk reduction strategy but it is a partner of insurance sector that helps it to face heavy unfortunate risks. In a country like India where insurance penetration needs to be increased, support of reinsurers would be highly required for the same. General Insurance Corporation of India (GIC-Re) is the only public company in India at present that is solely into reinsurance business and was the only reinsurer of India till 2016. Other primary insurers also offer reinsurance but GIC Re bags the credit of being the most dominant reinsurer in the Indian market and there is no other Indian company besides GIC Re that is working as an exclusive reinsurer. Undoubtedly the company is a lifeline for various insurance companies operating in India. Since a reinsurance company holds special importance for primary insurers, any financial failure on the part of the former can affect the profitability and solvency of the latter. Considering the importance of reinsurance, and the dependence of insurers upon reinsurers for the part of risks transferred to them, the need is felt to evaluate the financial performance of the only Indian reinsurance company i.e. GIC Re.Through the article an endeavor is made to analyze the financial performance of the company for a period of ten years from 2004-2005 to 2013-2014 using CARAMELS Model. Different parameters namely Capital Adequacy, Asset Quality, Reinsurance and Actuarial Issues, Management Soundness, Earnings & Profitability, Liquidity and Sensitivity to Market Risk are appraised and it is found that Earning and Profitability of the company needs to be honed. Improvement in the Liquidity of the company would also be welcomed. This study would not only help various interest groups but would add to the domain of financial performance of reinsurance companies which has been relatively a less researched area in contrast to the financial performance of insurance and banking companies. Keywords: GIC Re, Reinsurance, Financial Performance, CARAMELS Model
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 Name : Implementation of International Financial Reporting Standards in Indian Companies
 Author : Robert Mosomi Ombati, Dr. Vineet Chouhan
 Abstract :
Globalization is making a dramatic impact on the world economy, borders are getting less and less relevant and corporation and trade between companies situated on different continents is now very common. More and more companies have become global in their commercial activities and international trade with shares and credits is constantly increasing. For increased business accounting also needs to improve and for this purpose a common set of accounting standards are required. Each country has their own standards which are different from each other and to improve accounting and making similar standard International accounting standard committee (IASC) is working on common standards called International financial reporting standards (IFRS). India intends to use since 2011 but it was delayed up to 2016. This paper analyses the differences in the annual report of a company when IFRS were implemented and measure the result of IFRS in annual accounts. Further, the views of managers, auditors and accountants for the use of IFRS were also analysed in this paper. The paper conclude that the respondents (N=200) have positive perception towards adoption of IFRS and its use. Keywords: IFRS, Indian AS, Wipro, Implementation of IFRS, Gaps in opening and closing balance. Introduction Countries.
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 Name : A Critical Review on Occupational Stress Factors Affecting Faculty Members Working in Higher Educational Institutions in India
 Author : Alka Shrivastava, Dr. Narendra Shukla
 Abstract :
The research in the area of stress in general and occupational stress in particular is wide and varied. Historically, working in higher educational institutions has generally been considered relatively stress-free and highly satisfying. However, fast growing global education industry has affected educational processes in India with the same pace. There is increasing demand in various academic and nonacademic activities from faculty members working in higher educational institutions in India, which is leading to rise in occupational stress among them. The aim of this paper is to present a critical review of the existing literature on occupational stress of teaching faculty of different streams of higher educational institutions in India and explores its findings to identify the stressors and develop new insights for further research in this direction. 30 research resources including research papers, thesis and books have been selected for the review and their findings are presented in a comparative tabular format for the clarity. The common stressors are discussed critically. Recognizing that the job of teaching in higher education is no longer a “low stressful occupation”, occupational stress management should be taken as a primary strategic and operational concern for successful outcomes. Keywords: Occupational Stress, Stressors, Stress Management
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 Name : Revisit to the Determinants of Gold Price in India using Multiple Linear Regression Model
 Author : Dr. Khujan Singh, Anil Kumar
 Abstract :
This study has been conducted to determine macroeconomic variables that decide the gold prices in India for which the Multiple Linear Regression Model is applied. The gold prices have been taken as dependent variables and crude oil prices, repo rate, inflation rate, exchange rate of US dollar in rupees, BSE closing prices, silver prices and foreign exchange reserves of India have been taken as independent variables. Monthly data of all these macroeconomic factors and gold prices have been collected from their respective websites for the period April, 2003 to December, 2016. The empirical results found that BSE closing prices and repo rates are inversely correlated with gold prices, while crude oil prices, inflation rate, silver prices, exchange rate of US dollar in rupees and Foreign exchange reserves have significant positive correlation with gold prices. The results of the study are significant for policy makers as well as investors. Keywords: Gold price, exchange rate, inflation rate, crude oil prices, BSE closing prices and multiple regression model. JEL: M21
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 Name : The Influence of Managerial Leadership and Job satisfaction on Employee Retention: A Survey of IT Companies in Bangalore
 Author : Sonia Singh,Dr. Biswajit Satpathy,
 Abstract :
Leadership of any organization should have the capability to engage the right people, at the right place and to the right degree at their work. This kind of engagement in true sense will only start when the leaders do away with the command and control approach rather adopt a conversational approach. Especially in today's time, when discussions are largely focused on assessment of organizational capacity and capability to deal with disruptive market forces, exploring the potential role of managerial leadership assumes significance. It aims at building mutually beneficial relationships with the key internal stakeholders i.e., employees. This paper attempts to explore how leadership behaviors and job satisfaction influences employee retention. It will look into employee retention problems with an emphasis on supervisor-subordinate relationship and HR practices leading to job satisfaction in IT organizations in Bangalore. The study reveals the attitude and experience that the employees had with their previous employers with respect to HR practices, job satisfaction and supervisory support. Keywords: Employee retention, HR Practices, Job satisfaction, Managerial leadership
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 Name : Economic Update
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 Name : Editorial
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