dr. ishari k ganesh - vels univ

VMJ – VOLUME – 7 / ISSUE – 1 / JUNE 2018

VELS MANAGEMENT JOURNAL

Dr. ISHARI K GANESH

Editor in chief

Chancellor, VISTAS Chennai

Editorial Board

Vels Institute of Science, Technology & Advanced Studies (VISTAS)

Dr. P.Swaminathan

Vice – Chancellor

VISTAS Chennai

Dr. A.R.Veeramani

Registrar, VISTAS, Chennai

Dr.P.R.Rama Krishnan

Dean ,School of Management Studies

VISTAS

Dr. Thenmozhi M.

Professor, Department of Management

Studies, Indian Institute of Technology Madras,

Chennai

Prof. Balasubramanian,

Vice President

-IFMR B School

Prof. Venkatesh Panchapagesan,

Finance & Accounting

Associate Professor ,Chairperson, Real Estate

Research Initiative, IIM Bangalore

Prof. M S Narasimhan

Finance & Accounting

Professor , IIM Bangalore

Prof .N .Panchanatham

Retired Professor

Department of Business Administration

Annamalai University, Tamil Nadu

Dr.S.Preetha

HOD - MBA,School of Management Studies

VISTAS, Chennai

Dr. R. Rangarajan, Associate Professor, Department of Commerce,

University of Madras

Dr. S. Vasantha

Professor, School of Management Studies,

VISTAS, Chennai

Dr.G.Rajini

Professor & Head MBA (Integrated) School of

Management Studies

VISTAS,Chennai

Dr.S.Sudha

Associate Professor

School of Management Studies

VISTAS, Chennai


Vels Institute of Science, Technology & Advanced Studies (VISTAS)- was established under

section 3 of the University Grants Commission Act 1956, Government of India, New Delhi.

VISTAS is a part of Vels Group of Institutions which was established in 1992, by Dr. Ishari K.

Ganesh, M. Com, B.L, M.B.A, Ph.D., a visionary and an eminent educationist. VISTAS offers

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dedicated students.


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The driving force behind Schools of Management Studies’ level of academic excellence is the

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Editorial

School of Management Studies, VISTAS takes immense pleasure in publishing the 7th

volume

first issue of the half yearly Vels Management Journal that aims to offer insights and fresh

perspectives in the field of management. It publishes various research articles in area of

management. It also includes case study analysis and book reviews. All these are regular feature

which will benefit to Management faculty, students and research scholars and practitioners.

The Seventh Volume, Issue No 1 has an array of research articles on determinants of retail

investors investment behaviour in initial public offers, Human resource managers in digital era,

effectiveness on Sales Promotion, Employees attitude towards Organizational Change, Non-

Performance assets of Banks.

Mr. R Satish & Mr. S.Saravanan in their article had discussed on the determinants of retail

investors investment behaviour in initial public offers.

Ms. P. Girijasri & Naga Bhasar had analyzed on the changing role of Human resource managers

in digital era.

Mr.Praphul H. Sarma & Ms. Nahana S had examined on the effectiveness on Sales Promotion

for Titanium Dioxide Pigment

Mr.B.TamilSelvan & Ms.S.Kavitha analyzed the Employees attitude towards Organizational

Change.

Ms.Hari Priya has written on the significance of Internet of Things.

M.Sankar had discussed about the case study on Non-Performing assets of Banks.

Mrs.Kanchana Arun had reviewed a book on training and development in hospitality industry

authored by Debra F. Cannon M. Gustafson.

The contributors to this journal have given an expression to conceptual insights and research

implications in the concerned areas. We believe that these ideas and knowledge will disseminate

better and more effective management practices to all readers.

We encourage empirical research articles and conceptual papers with relevance to contemporary

issues. The views and reviews of readers will be very much appreciated. Wish you a very happy

insightful reading.

Address for Communications / Correspondence

The Co-Editor,

Vels Management Journal, VELS University,

Pallavaram, Chennai 600 117, Tamil Nadu, India.

Phone :91 -44-22662500/01/02/03 Exn 137.

Cell: +91 -9176132279, +91-9840125143

Email : [email protected]


Vels Management Journal

A HALF YEARLY JOURNAL OF MANAGEMENT AND RESEARCH

__________________________________________________________________________

Vol: 7 Issue No: 1 JUNE 2018 ISSN: 2250-1223

__________________________________________________________________________

Research Articles Page Nos

AN EMPIRICAL INVESTIGATION ON DETERMINANTS OF RETAIL

INVESTORS INVESTMENT BEHAVIOUR IN INITIAL PUBLIC

OFFERS

Mr. R Satish & Mr. S.Saravanan

1

CHANGING ROLE OF HR MANAGER IN DIGITAL ERA: A REVIEW

Ms. P. Girijasri & M. Naga Bhasar

19

EFFECTIVENESS OF SALES PROMOTION FOR TITANIUM

DIOXIDE PIGMENT- A STUDY BASED ON SELECTED

CUSTOMERS IN THIRUVANANTHAPURAM, DISTRICT

Mr. Praphul H. Sarma & Ms. Nahana S

29

A STUDY ON EMPLOYEE ATTITUDE TOWARDS ORGANIZATION

CHANGE WITH REFERENCE TO MANUFACTURING INDUSTRY IN

CHENNAI

Mr.B.TamilSelvan & Ms.S.Kavitha

37

INTERNET OF THINGS

Ms.Hari Priya

47

CASE STUDY

A CASE STUDY ON THE NON-PERFORMING ASSETS IN BANKS

M.Sankar

51

BOOK REVIEW

TRAINING AND DEVELOPMENT FOR THE HOSPITALITY

INDUSTRY

Mrs Kanchana Arun

57

*S.SARAVANAN, **R SATISH

ABSTRACT

Purpose of this paper is to identify constructs involved in Retail Investors Investment Behaviour towards Initial Public Offers and suggest a model to understand the relationship between various construct considered. Data was collected through structured questionnaire from selected sample size and finally 504 responses were used to justify the structure. The study determined four variables Information Asymmetry, Attitude, EIC attributes and Subjective norms. Also the study contributed in identifying a model that can show a meaningful relationships among the variables identified and Intention of an investor towards IPO investments. Though the four considered had a direct or indirect relationship with Intention, Attitude had a major influence. Information Asymmetry had an indirect relationship with Intention by modifying the perception of investors either through the Attitude or through the EIC attributes.

KeyWords: Initial Public Offers, Perception, Behavioural Intention, Attitude

R SATISH

Associate Professor, Jeppiaar Engineering College, 9443387934 [email protected]

S.SARAVANAN,

Asst Prof, Tagore Engineering College , 9655120410, saravanan [email protected]

AN EMPIRICAL INVESTIGATION ON DETERMINANTS OF

RETAIL INVESTORS INVESTMENT BEHAVIOUR IN INITIAL

PUBLIC OFFERS


VMJ – VOLUME – 7 / ISSUE – 1 / June 2018



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INTRODUCTION

1. Indian Stock Market, Mechanism of pricing and allocation in India:

Stock market in India is one of the fast growing and best return among the developing countries market. There were many setbacks in the global equity market of which the Indian market was stock to withstand the pressure and still grow. Domestic institutional investor’s participation in the Indian stock market has increased in the recent past which shows the investor’s confidence, since most investors prefer the indirect route of investment through Institutional investors.

Economic reforms in Indian capital market started in the earlier part of 1990s which was then controlled by CCI Controller of Capital Issues in India. CCI was abolished in the year 1993 and a new regulator Securities Exchange Board of India took over the control of Indian Stock Market. Fixed pricing mechanism was the one widely used during the period with lack of facilities in almost all sector since IT was much developed in India. With the advent of IT, Indian stock market took a shape with introduction of online terminals by NSE which was youngest stock exchange, this welcomed many investors into the stock market. Stock Exchanges started following Book-building method of Pricing mechanism and companies are given the choice of either following 100% or 75% Book building methods. In 100% book building methods companies are instructed to provide not less than 25% of total number of shares to retail investors.

2. Variables for the study

Literature concentrating on financial behaviour of retail investors specific to Initial Public Offers is limited in India and using of structural equation modelling is rarest in the case of identifying the determinants in case of Retail Investors Intention based on the various perception parameters about the Initial Public Offers. Since the model will have complex relationship between the variables were identified through Structural Equation Modelling (SEM), instead of Regression analysis or Analysis of Variance. SEM has the ability to select an appropriate model among the competing ones, also with validity and reliability measures to test the variables in study. Five factors were considered based on the emerging literature to identify the pattern of relationship between Information asymmetry, Market and Company Perception, Societal Perception, Representativeness and Familiarity, Intention.



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LITERATURE REVIEW

Park and Gunther(2007) Receiver’s perception is affected by information w.r.to given behaviour by attitude change which in turn finally change the behaviour of receiver. Salam Abdullah and Khalil Hilu(2015) their exist a direct relationship between risk attitude and market perception.Lee(2009) Attitude is the more relevant variable to explain intention. Gopi and Ramayah(2007) All investment activities of individual investors are guided by their attitude. Michael(2011) Individual investors are favourable towards investments in which they are highly motivated and less favourable towards the one that are less motivating. Attitude has evaluative effect on individual feelings towards a behaviour. Repin and Lo(2001) Concentrated on knowing the characteristics of institutional buyers when are doing live trading and came with the observation that mental characteristics of the institutional buyers is having a strong positive relationship with events happening in the market. Lawrence(2013) When more financial information is shared investor’s feel the transparency as a positive sign and try to take risk and invest more.Investor’s access to information can influence their perception towards behaviour. KhoaCuongPhan and Jian Zhou (2014) Attitude of a person is related to confidence in the issue, familiarity in the issue. Investor Behaviour in any investment decision is seen as a factor of attitude of individual, influence of social norms, information an individual has about the investment and influence of other control variables like market.

Table 1: Variables found in the literature

1 I am knowledgable of primary market activities

David Pascual,Barbara and Beatriz(2013), Barbara Wanyana and Dr Issac(2011), MushtaqHussain Khan(2014)

2IPOs are well managed through regulations by SEBI

Khurshed et al(2008)

3I am confident of my own opinion over opinion of friends and colleagues

Renn(1990), Frank(1935) Fischhoff, Slovic and Lichtenstein(1997)

4I usually expect my IPO investment to perform better than other IPO choices available

Renn(1990), Choe, Masulis and Nanda(1993)

5I feel regret of a drop in price on listing day of IPO stock I purchased

Barbara Wanyana and Dr Issac(2011), Naveed et al(2011), Weber &Camerer(1998)



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6 Idea of participating in an IPO is appealingDavid Pascual,Barbara and Beatriz(2013), Renn(1990)

7Data sources available to analyse an IPO is plenty now-a –days

David Pascual,Barbara and Beatriz(2013)

8It is very likely that I consider IPO investment though there are other investment options

Developed for the study

9When I feel the data available is sufficient, reliable I feel safer

David Pascual,Barbara and Beatriz(2013), Guiso and Japelli(2005)

10 When IPO is managed by top brokers its saferJunbo Wang, Sheen Liu and Chunchi Wu

11 Pricing of an IPO influences my decision on IPOGrinblatt and Keloharaju(2001)

12Institutional and other investors interest on an IPO influences my decision to invest

Jain and Singh(2012), Weldi(1992), Arif(2009), Yash and Anand(2012), Khurshed et al(2008), Lakonishek et al(1992)

13Popularity of company’s group influences my participation in that IPO

Shiller and Pound(1988), Robert(1988), Renn(1990), Barber &Odean(2008)

14Expectations of my family influences me to take risk on an IPO

David Pascual,Barbara and Beatriz(2013)

15I have many positive things to express in my prior IPO investments

Ashbury, Isen and Turkey(1999)

16Position of IPO company in corresponding industry influences my idea of participation

Pagamoet et al(1998), Lowery(2002)

17Success of IPO’s prior to current IPO influence my decision

Lowery&Schwert(2002) Renn(1990), Shefrin(2002) Shiller(2000), De, Gondhi and Pochiraju(2010), Oslen(1997)

18 My past experiences influences my decision making

Barbara Wanyana and Dr Issac(2011), Naveed et al(2011), Statman(1999), Kaustia&Knupfer(2008), Oslen(1997)



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19My friends/family confidence on my ability to select winner IPOs influences my participation

Ajzen(2006)

20 I imitate decision of others when deciding an IPO

David Pascual,Barbara and Beatriz(2013), Barbara Wanyana and Dr Issac(2011), Welch I(2000), Scharfstein D S and Stein J C, Devenow and Welch(1996)

21When overall economy is better, I feel IPOs are safer to invest

Gupta(2011), Daniel et al(1998)

22 I have intention to invest in a good forthcoming IPO Developed for the study

23With a good market condition, I can get better return on IPOs

Lucas and Mcdonald(1990) Ritter and Welch(2002) Neeta and Padmavathi(2012) Aggarwal(1994), Lowery Ritter, Rydquist(1994), Plotnicki and Szyszka(2014)

24When the business of issuer is familiar, IPO can be considered less riskier

Baker and Nofsinger(2002) Ricciardi(2004), Huang(2010)

25I recommend my friends the IPO which could fetch better return

Developed for the study

26When my family approves my risk taking behavior, it increases my confidence

David Pascual ,Barbara and Beatriz(2013)

27When I feel my IPO investment can provide better return than secondary market I feel safer

Barbara Wanyana and Dr Issac(2011)

28When the company has better management practice, I can take a calculated risk

Robert(1988)

29With the age of firm, I can predict credibility of company

Ghosh(2005),Ritter(1991), Neeta&Padmavathi(2012) Loughran and Ritter(2004)

30Most people who are important to me think that is should invest in IPO

IcekAjzen

Gaps in Literature:

The research focus on behavioural point of view of investment, most early researches are either to access performance in long or short period.




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Maximum reviews were related to performance after listing, but here the concentration is on the factors influence on making investment decisions

Objective of the study:

To identify the factors involved in shaping the intentions from behavioural perspective

To develop, validate a structural model with the determinants identified

ANALYSIS AND INTERPRETATIONS

Weighted Average Analysis of the Variables in the study:

Table 2:

VariablesStrongly Disagree Disagree Neutral Agree

Strongly Agree

Weighted Average

I am knowledgable of primary market activities 4 3 13 82 151 4.47IPOs are well managed through regulations by SEBI 15 26 36 101 75 3.77I am confident of my own opinion over opinion of friends and colleagues 4 8 32 96 113 4.21I usually expect my IPO investment to perform better than other IPO choices available 13 12 38 89 101 4.00I feel regret of a drop in price on listing day of IPO stock I purchased 23 10 33 98 89 3.87Idea of participating in an IPO is appealing 8 25 65 116 39 3.60Data sources available to analyse an IPO is plenty now-a –days 2 7 25 128 91 4.18It is very likely that I consider IPO investment though there are other investment options 1 6 23 118 105 4.26



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When I feel the data available is sufficient, reliable I feel safer 3 43 52 82 73 3.71When IPO is managed by top brokers its safer 11 36 52 102 52 3.58

Maximum investors in the study revealed that they are knowledgeable on the activities related to the

primary market. When the investors compare their own opinion about an IPO issue on comparison

with their peers or colleagues, they feel their opinion is better than their counterparts. As with the

justification of data available for the investors to know more about an IPO issue and the company,

there were plenty of resources and corresponding data available in the recent days. For investors even

though many other investment options are available, considers IPO as a superior option owing to the

return it can fetch in a shorter duration. It’s a human tendency to believe their investment option to

perform better, the belief is justified with the response of their IPO choice over other IPOs available at

their time of making investment decisions.

Table 3:


Strongly Agree

Weighted Average

Pricing of an IPO influences my decision on IPO 4 3 13 82 151 4.47Institutional and other investors interest on an IPO influences my decision to invest 15 26 36 101 75 3.77Popularity of company’s group influences my participation in that IPO 4 8 32 96 113 4.21Expectations of my family influences me to take risk on an IPO 13 12 38 89 101 4.00I have many positive things to express in my prior IPO investments 23 10 33 98 89 3.87Position of IPO company in corresponding industry influences my idea of participation 8 25 65 116 39 3.60



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Success of IPO’s prior to current IPO influence my decision 2 7 25 128 91 4.18My past experiences influences my decision making 1 6 23 118 105 4.26My friends/family confidence on my ability to select winner IPOs influences my participation 3 43 52 82 73 3.71I imitate decision of others when deciding an IPO

11 36 52 102 52 3.58

When deciding on purchase it is natural to consider the value of money, IPO is no exception proving

investors are more concerned on the pricing of the shares in an IPO. Brand of a company plays a major

role on forming perception in purchase decisions, in IPO investments also popularity of a company

plays a major role in purchase decisions. Success of the IPOs in the recent past has a positive influence

in the primary market and hence the sentiment influences participation in the IPOs. Past experiences

plays again a significant role while an individual considers a stock through an IPO. Expectations of the

family and the fulfilments increase the appetite of taking risk among the retail investors.

Table 4


Strongly Agree

Weighted Average

When overall economy is better, I feel IPOs are safer to invest 22 30 40 104 57 3.57I have intention to invest in a good forthcoming IPO 11 5 34 129 74 3.99With a good market condition, I can get better return on IPOs 5 15 55 129 49 3.80When the business of issuer is familiar, IPO can be considered less riskier 5 12 35 101 100 4.10



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I recommend my friends the IPO which could fetch better return 12 7 34 135 65 3.92When my family approves my risk taking behavior, it increases my confidence 0 10 45 100 98 4.13When I feel my IPO investment can provide better return than secondary market I feel safer 1 3 19 78 152 4.49When the company has better management practice, I can take a calculated risk 7 13 63 122 48 3.75With the age of firm, I can predict credibility of company 6 18 54 121 54 3.79Most people who are important to me think that is should invest in IPO 2 6 39 89 117 4.24

Investor’s internal feeling of a better return than secondary market investment decrease the risk of

considering investment in a stock through its IPO. When the people who are most important to an

investor thinks he/she has the ability to invest, motivates the investor to invest in an IPO. Also when

the family of an investor approves the risk taking behaviour of the investor, the feeling rejuvenates the

possibility of investment.

Table 5: KMO and Bartlett’s TestK-M-O Measure of Sampling Adequacy. .872

Bartlett’s Test of Sphericity

Approx. Chi-Square 6531.317Df 435Sig. 0.000

KMO value >0.70 AcceptableBetween 0.71 & 0.80 Good>0.80 BestTest Result 0.872Rotation Used Varimax



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Source: Primary Data

Identified five variables has explanation power of 68%. 21 variable had factor loading greater than 0.70 and 9 variables had less, hence the 9 were rejected. Consequently they were names as Information Asymmetry, EIC attributes, Subjective Norms and Attutude”. Other factor is the dependent variable for the research named as Intention.

Confirmatory Analysis:

Table 6: Reliability and Convergent Validity

Var No FactorsCronbach’s

Alpha

Squared Factor

Loadings>0.5

Standardised Regression

Weights>0.7

Average Variance

Extracted>0.5B1

EIC 0.929

0.646 0.709 0.692B7 0.643 0.765C3 0.645 0.967C8 0.635 0.949C9 0.614 0.733A1

Attitude 0.913

0.496 0.700 0.615A3 0.594 0.919B2 0.51 0.873B3 0.603 0.772B10 0.605 0.693C4 0.564 0.717A7 I n f o r m a t i o n

Requirements(IA)0.795

0.529 0.692 0.603A9 0.721 0.828A10 0.628 0.803B9

Subjective Norms 0.830.746 0.695 0.643

C6 0.712 0.898C10 0.616 0.800

Source: Primary Data

Discriminant Validity of Measurement Model:

Table 7: Discriminant Validity

EIC ATT BI IA SNEIC 0.832 0.635 0.441 0.254 0.153ATT 0.635 0.784 0.523 0.322 0.123BI 0.441 0.523 0.793 0.363 0.308IA 0.254 0.322 0.363 0.777 0.184SN 0.153 0.123 0.308 0.184 0.802



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Measurement Model:

Chi-Square value of <=0.05 is acceptable, result here is 0.000

CMIN/df of value of less than 3 is acceptable, here it is 2.505

RMR value of less than 0.09 is acceptable, here it is 0.056

RMSEA value of less than 0.080 is good, here it is 0.076

NFI value of less than 0.90 is acceptable, here it is 0.903 and

CFI less than 0.90 is acceptable here it is 0.904

Figure 1 : Measurement Model

Structural Equation Model:

Assessment of fitness of structural model:

Chi-Square value of <=0.05 is acceptable, result here is 0.000

CMIN/df of value of less than 3 is acceptable, here it is 2.503

RMR value of less than 0.09 is acceptable, here it is 0.063



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RMSEA value of less than 0.080 is good, here it is 0.077

NFI value of less than or equal to 0.90 is acceptable, here it is 0.90 and

CFI less than or equal to 0.90 is good here it is 0.937 which is closer

Figure 2: Structural Model

DISCUSSIONS

H1a: The first null hypothesis of the study “Information Asymmetry will directly and

significantly affect Investor Attitude” was supported by the analysis and hence not rejected.

R square indicates a positive influence of Information asymmetry on the Investor Attitude.

Lawrence(2013) Higher quality disclosure of financial part influence investors to take more



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risk by investing more. Health and Tversky(1991) argues that ambiguity aversion signifies the

confidence individuals have about accessing given information. So an investor’s access to

information may also affect their perception towards behaviour.

H1b: The next hypothesis of the study “Information Asymmetry(IA) has a direct influence with

Economy, Industry and Company Attributes(EIC)” was supported by the analysis and hence

not rejected. Relationship was healthy that indicates a strong positive influence of Information

Asymmetry on attributes related to economy, industry and company. It is a general belief

about the data we have in hand, may be related to access, sufficiency or consulting of data

with others.

H2a: The next hypothesis of the study “Economy, Industry and Company(EIC) has a direct

influence wih Investor Attitude(ATT)” was supported by the analysis and hence not rejected.

R square was too strong the evidence that Attitude is highly influenced by the market and the

related factors. Salam Abdullah and Khalil Hilu(2015) their exist a direct relationship between

risk attitude and market perception.

H2b: The next hypothesis of the study “Economy, Industry and Company(EIC) attributes will

directly and significantly affect Behavioral Intention(BI)” was supported by the analysis and

hence not rejected. Direct relationship between these construct is not too strong but positive

enough to indicate market attributed too influence the behavioural intention. Lawrence(2013)

When more financial information is shared investor’s feel the transparency as a positive sign

and try to take risk and invest more. Here we have considered EIC instead of PBC to know

how the situational factors like EIC can be a proxy to PBC and how we can take control of our

investment through the market factors(Economy, Industry and Company)



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H3: The next hypothesis of the study “Investor Attitude(ATT) will directly and significantly affect

Behavioral Intention(BI)” was supported by the analysis and hence not rejected. Influence

of Investor attitude on Behavioral Intention was strong and positive to clearly support the

hypothesis. Lee(2009) Attitude is the more relevant variable to explain intention. East(1993),

Gopi and Ramayah(2007) All investment activities of individual investors are guided by their

attitude.

H4a: The next hypothesis of the study “Subjective Norms(SN) will directly and significantly

affect Behavioral Intention(BI)” was supported by the analysis and hence not rejected. A

positive R square indicates a good relationship between both the constructs indicating no

scope for any ambiguity. Venkatesh and Davis(2000), Fu,Farn et al(2006) proved significant

relationship between subjective norms and intention.

H4b: The last hypothesis of the study “Subjective Norms(SN) will directly and significantly affect

Investor Attitude(ATT)” was not supported by the analysis and hence rejected. Relationship

between both the construct were too low to support the rejection.

CONCLUSION:

In the model developed Intention is predominantly influenced by attitude of an investor when compared to rest all variables. EIC attributes was the most influencing factor upon Attitude. Also Information Asymmetry plays a major role in influencing EIC attributes and Attitude considered. Information Asymmetry indirectly affects the intention to invest through Initial public offers. Other constructs like Attitude, EIC Attributes, Subjective Norms directly influences in shaping the intention of an investor. Attitude play a significant role in intention to purchase.

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Barber, B. M., Odean, T. and N. Zhu (2009). “Do retail trades move markets?” Review of Financial Studies 22(1): 151-186

Ashbury, F. Gregory, Alice M. Isen, and And U. Turken. 1999. A neuropsychological theory of positive affect and its influence on cognition. Psychological Review 106, no. 3:529–50

De, Sankar, Naveen. R. Gondhi, and BhimasankaramPochiraju (2010), “Does Sign Matter More than Size? An Investigation into the Source of Investor Overconfidence,c Working paper, Indian School of Business.

Neeta and Padmavathi(2012), Underpricing of Initial Public Offerings in Indian Capital Market, Vikalpa, Volume 37, No.1, Jan-Mar 2012

Huang(2010),”Familiarity does not aid access to features”, Psychonomic Bulletin and Review, 18(2), 278-86



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APPENDIX

Questionnaire Items

Questions with Likert’s Scale

A1 I am knowledgeable of primary market activities

A2 IPOs are well managed through regulations by SEBI

A3 I am confident of my own opinion over opinion of friends and colleagues

A4 I usually expect my IPO investment to perform better than other IPO choices available

A5 I feel regret of a drop in price on listing day of IPO stock I purchased

A6 Idea of participating in an IPO is appealing

A7 Data sources available to analyse an IPO is plenty now-a-days

A8 It is very likely that I consider IPO investment though there are other investment options

A9 When I feel the data available is sufficient, reliable I feel safer

A10 When IPO is managed by top brokers its safer

B1 Pricing of an IPO influences my decision on IPO

B2 Institutional and other investors interest on an IPO influences my decision to invest

B3 Popularity of company’s group influences my participation in that IPO

B4 Expectations of my family influences me to take risk on an IPO

B5 I have many positive things to express in my prior IPO investments

B6 Position of IPO company in corresponding industry influences my idea of participation

B7 Success of IPO’s prior to current IPO influence my decision

B8 My past experiences influences my decision making

B9 My friends/family confidence on my ability to select winner IPOs influences my participation

B10 I imitate decision of others when deciding an IPO



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When overall economy is better, I feel IPOs are safer to invest

C2 I have intention to invest in a good forthcoming IPO

C3 With a good market condition, I can get better return on IPOs

C4 When the business of issuer is familiar, IPO can be considered less riskier

C5 I recommend my friends the IPO which could fetch better return

C6 When my family approves my risk taking behavior, it increases my confidence

C7 When I feel my IPO investment can provide better return than secondary market I feel safer

C8 When the company has better management practice, I can take a calculated risk

C9 With the age of firm, I can predict credibility of company

C10 Most people who are important to me think that is should invest in IPO

VMJ – VOLUME – 7 / ISSUE – 1 / June 2018VMJ – VOLUME – 7 / ISSUE – 1 / June 2018VMJ – VOLUME – 7 / ISSUE – 1 / June 2018

*P. GIRIJASRI, **M. NAGA BHASAR

ABSTRACTIn today’s digital transition era, human resource management practices have undergone a

sea change. Changes in world-wide economic conditions, competition in global market, cross-cultural diversity in workforce and technological advancements have put new demands on the organization and have led this functional area in a new direction. However, I believe that these changes have created many opportunities and challenges for HR manager and the organization as a whole. The main objective of this paper is to (a) review the opportunities and challenges of the future HR manager and (b) provide an overview of how to resolve these problems in order to continue the organization in the world’s competitive market.

Keywords: Human Resource Management, digital transformation era, work-force diversity, change management, opportunities, challenges.

P. GIRIJASRIAsst.Professor,

QIS College of Engineering and Technology, Ongole.

Research Scholar, HRM Department

Acharya Nagarjuna University, Guntur

Mail-ID: [email protected]

Ph.No: 7416446463.

M. NAGA BHASARResearch Scholar

VFSTR, Guntur

[email protected]

Ph.No. 9966952979

CHANGING ROLE OF HR MANAGER IN DIGITAL ERA:

A REVIEW





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INTRODUCTION

Digitalization is creating waves with the introduction of new business models. It has been the

motivatingpower of change in the industry, and workforce in the organizations and people take years

to fully embrace these changes. Introducing and successfully implementing the Change in HR practices

is the main bottleneck in digital conversion. The central changes in leadership, talent management and

retention are even more important for successful digital travel. The general shifts and implications of

the digital conversion of HR are no longer a problem for niche markets because they move from the

technology department to the conference room of industry, sector and local leaders.

The present digital era is a springboard to the progression of the world made possible by the

usage of technology in the place of work. The digital era is moving fast and introducing radical changes

the organizations work environment. It applies to both the private and public-sector organizations.

Therefore, it has a significant impact on the department of human resource management functions

and it has to identifies new approaches for managing people. Human resources manager need to

develop new ways of thinking and identify the new approaches while doing functional activities in the

organizations (Gupta AR, Maddheshia N).

RESEARCH METHODOLOGY

This paperobjectives to appreciate the basic concept of role of HR Manager in the organizations

in the current digitized environment and what kind of role she/he has to play to successfully adopting,

implementing and maintaining the digital technology and human resources in the organization. My

study is based upon review of literature and secondary data collected from various websites, journals.

CONCEPTUAL FRAME WORK:

Role of HR manager:

The Personnel Management role has transformed its face and emerged as human resource

management with varied scope, and in 21st century it is changed as HR business partner. The HR

business partner form a link between HR departments and Organisation’s business units (Mukherjee-

Das M). The most important role of HR in a dynamic organizational environment can be understood

into three parts.



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Role of HR

Supporting the Business Change Management

Employee Engagement

Figure 1: Role of HR in Dynamic environment

Business support:

The knowledge and skills of the human resources should meet the needs of the competitive business

world, the HR team should be highly dynamic and that can be easily adaptable the rapidly changing

requirements of an organization or market needs (Kumar V). Human resource manager must be seen

as a strategic partner, this strategic partnership will have influence on entire HR functions of recruiting,

selecting, training, evaluating and rewarding. Human resources are directly infused into the company’s

competitive advantage, because, it works closely with humanresources. Indian organizations generally

direct their HRM efforts in the direction of the development of proficiencies, culture and effectiveness

among employees individually or in groups (Singh, 2003). The company’s staff must ensure that the

company always has the right people to do the right thing.

Employee Engagement:Employee Engagement is the workforce commitment towards the organization

physically, emotionally and intellectually. In highly engaged organizations every employee wants to do

whatever they can for the success of the organization as a whole. Modern human resources must

be defined by actively participating in employee affairs, supporting employees in the workplace, and

building professional and stable relationships between staff, employees and managers. Managing

expectations through flexibility, communication, rewards and appropriate training is one of the most

important factors in maintaining employee engagement.



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Human Resource Manager can perform tasks such as performance appraisals, career development and competence management, the development of effective reward systems and task design to meet both business and personnel needs. Highly engaged employees perform optimally which leads the organization in a successful manner in the competitive digital era.

Change management:

During an organizational change, a human resource manager ensures that employees have the skills and knowledge they need when they change their working environment, for example during a merger or takeover between the two companies. The right process for change management ensures that all changes are handled smoothly, disruptions are minimized and employees are fully involved (Ranjan P). Human resources play an important role in ensuring that changes are made according to plan because of their unique location as the heart of all employee relationships. These added angles give the human resource manager a direct role and authorize these during the development of the company based on available functionality (Joseph S, Singh V.)

Digital Economy- Organizational Implications:It is essential to identify the organizational consequences of the digital economy before discussing about the HR functions.

• Organizations are emerging as flat organizations and decisions are becoming increasingly scarce.

• Leaders are always focusing on results. With digital conversions, technology can quickly and easily measure the accuracy of decisions.

• Flexibility is essential to keep employees connected to the digital economy. Internal and global competencies are transferable and are more attractive for both employers and employee (Bardhan A, Bandyopadhyay S, Mandal KS.).

As a result, the HR manager will focus on the shifting nature of the organization and the gradually more digitized staff and the impact of the resulting disruptive factors:

• Digital trends, comprising but not limited to cyberspace, data, cloud, social and mobile.

• Multiple generations of employees, including millennial or digital citizens of the first generation.

• Profession and life integrity with digitally connected employees.

• The emergence of a first-hand level of digitally trained personnel.

• Business model due to digital failure.

• Employees who are considered the first customer of an employer’s brand.



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HR manager plays a crucial role in shaping the digital identity of the organization, we need to pay more attention to digital conversion. Planning the future capacities of the workers in the digital economy is difficult and complex. The same applies to the ability to combine the right talent in a dynamic organizational context and to help existing employees and leaders develop new digital opportunities that can make a difference (Mukherjee-Das M.).

Prior to this change, each organization’s leadership team must adapt the implications of digitization to the organization and how it should be implemented in the overall business model. This alignment forms the digital operational model of the organization. This model will be helpful to integrate future digital situations (ie processes, people and technology).

The role of HR is to connect the digital functions that are needed in the future and where they need to be implemented in the organization. Digital functionality is centered on the following core areas of the control model: -

• Strategy: how does the digitalization drive the value of an organization? What role the organizations has to play in the digital age? How do you want to excel in the digital age?

• Planning and operations: How these digital plans will understand, operate and track value?

• Development of a product or service: which technical skills are important for the development of a product or service?

• Innovation: What capacities do you need to stimulate the innovation that is needed to achieve the set goals?

• User experience: what do you need to understand your requirements and how to meet them (eg Channel, marketing mix)?

After build up the necessary competencies, the HR department must support the organization that connects the competencies with specific roles and responsibilities. The HR department must follow a structured process that includes the following activities: -

• Evaluate workloads related to each competence and potential.

• Determine the role on the basis of the assessed workload.

• Define roles and responsibilities assigned to unique positions.

• Determine the correct control range for effective and lean management.

Depending on the approach to the ability to act, HR needs an organizational structure that can be



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used to design the objectives of the organization. Based on the structure and position of the future HR, the talent evaluates gap between the current and the future role and provide ways to overcome the gap (Barrett M, Davidson E, Prabhu J, Vargo SL.).

The digital lifecycle: HR plays an important role in helping to manage the talent life cycle from the digital environment, varying from the development and maintenance of the acquisition.

Figure 2: Talent Life Cycle

1. Manpower Planning and Acquisition: It is very competitive to attract the right talent in the right job. There is very little digital talent and organizations often do not able to find the skills they need on the job market. However, the recruitment process must use innovative solutions to show organizations as digital brands (Dhanabhakyam M, Kokilambal K.). The role of HR is important in promoting modern organizations, especially in creating a recruitment organization in a competitive environment where supply is low and demand is highly increasing. And since HR is an important pillar of the organization to make progress, we need to focus on attracting digitally savvy and socially recognizable job seekers. Employees who are familiar with digital tools such as social media, mobile banking and online shopping will rather understand the impact their organization can have on the digital transition process.



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2. Training and development: organizations must activate their learning and knowledge business environment and invest in existing functions within the organization. By offering an adapted learning and development framework for your employees, you can use existing talents and make them digital. It is the responsibility of the HR manager to develop and deliver training and education programs through different channels. They help employees not only to make technology plans, but also to adopt and develop new ways of working instead of the organization’s digital strategy.

3. Maintenance and retention: HR maintains its organization by drawing up strategic employee engagement plans and maintaining a workplace where appropriate talent can be deployed at the right time. It is important for organizations to use innovative, collaborative technologies that encourage the use of digital platforms and enable flexible employees to work where they are most suitable. The role of HR is monitoring the overall welfare of the workforce (Gupta P.).

4. Strengthening digital leadership: leaders play an important role in laying the foundation for digital transition and communicating and communicating with key stakeholders (internal or external) in the taking, designing and delivery of digital organizations. The reader must clearly define the costs, the risk and the benefits of digital conversion and determine which type of change management intervention is needed to guide the organization. That’s why leaders need the right skills to manage and manage change. HR plays an important role in revitalizing the leaders of the organization, in the skills they need and in sharpening their leadership characteristics.

Examples of important critical leadership skills that have undergone successful digital conversion include: -

• A complete understanding of the digital market.

• Future predictions to develop solutions for possible confusion.

• Financial insights that quantify the costs and returns of the investment.

• Cross-functional business insight that exerts pressure and drives between teams.

• Manageable ability to effectively operate and channel digital teams.

• An entrepreneurial spirit that innovates products, manages the life cycle of products or services and improves the user experience.



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As far as leadership qualities are concerned, even those that overlap with traditional

leadership characteristics are those specific to the digital environment:

• Adaptive: flexible and adaptable, giving people freedom of innovation and individual

style and preference for work (Kumar A.).

• Tolerance: stimulate experiments and idea development.

• Mobility: master digital tools and media use and enable flexible and occasional working

hours.

• Leadership at all levels: eliminate progress barriers and lead your employees to succeed.

• Collaboration: Collecting parties and people to use a variety of technologies for

collaboration and problem solving.

• Decision making: taking quick analytical decisions and strategies. Develop a suitable

team to provide essential insights where necessary.

• Communication: you must be visible, accessible and communicative with your

colleagues, regardless of their level (Tripathi D.).

• Feedback: provides feedback on real-time and personal and team performance.

CONCLUSION

Digitization effects oneach industry and every business organization. Managing

digital conversions will effect on the organizations which will endure and not affect

the era of digital crowds. Therefore, it is to be expected that every element of the

organization will play a role in contributing to a fruitful journey. This view offers a step-

by-step approach for internal organizations to deal with digital conversions. Border

and scalability are the key to digital conversion. HR capabilities have important and

crucial responsibilities that lead to change and turn strategic goals and goals into

proficiencies that are continuously generated to keep pace with business encounters

and market trends.



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REFERENCES

1. Bardhan A, Bandyopadhyay S, Mandal KS, editors (2014). Redefining the role of elderly as facilitator to educate young generation through Information and Communication Technology. International Conference on Ageing Well-Social and Managerial Challenges (ICAW) held in Kochi, Kerala.

2. Barrett M, Davidson E, Prabhu J, Vargo SL. (2015). Service innovation in the digital age: key contributions and future directions. MIS quarterly. 39(1),135-54.

3. Dhanabhakyam M, Kokilambal K. (2014). A study on existing talent management practice and its benefits across industries. International Journal of Research in Business Management. 2(7),23-36.

4. Gupta AR, Maddheshia N. (2017). Knowledge Economy: A Need for Social Reformation. Journal of Management Science, Operations & Strategies (e ISSN 2456-9305). 2017;1(1):16-20.

5. Gupta P. (2017) Organisational Structure and Management: In Reference of Banking Sector. Journal of Management Science, Operations & Strategies (e ISSN 24569305).1(2):29-35.

6. Joseph S, Singh V. (2013) Changing Lifestyles Influencing Indian Consumers: Conceptualizing and Identifying Future Directions. Global Journal of Management and Business Studies. 3(8), 861-6.

7. Kumar A. (2017). Information Technology Industry. Journal of Management Science, Operations & Strategies (e ISSN 24569305). 1(1), 12-5.

8. Kumar V. (2017). The Era of Innovative Banking and New Challenges. Journal of Bank Management & Financial Strategies.1(1), 6-9.

9. Mukherjee-Das M. (2014). Role of new media communication technologies end route information society-challenges and prospects. Global Media Journal-Indian Edition. (1),1-10.

10. Ranjan P. (2017). Human Resource Management and Organizational Behaviour. Journal of HR, Organizational Behaviour & Entrepreneurship Development. 1(1), 8-12.

11. Singh K. (2003) Strategic HR Orientation and Fi Rm Performance in India. International Journal of Human Resource Management 14(7), 530–554.



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12. Tripathi D. (2017). Marketing Strategies for Branding and Interactive Advertising through Telecommunication. Journal of Accounting, Finance & Marketing Technology, 1(2),6-17.

APPENDIX 1I. Figure 1: Role of HR in Dynamic environment

II. Figure 2: Talent Life Cycle


* PRAPHUL H. SARMA, **Ms. NAHANA S

ABSTRACT

Now a day their lots of both product and services are launching day by day. And the Marketing tool for the various product and services are also different. There is no doubt that one of the major factors of the selling and the pricing of the product or service is because of its marketing. Sales Promotion has now been adopted all over the world as a factors for the movement of the product. This study envisages finding out “The Effectiveness of Sales Promotion for Titanium Dioxide Pigment”. This study explored the major factors that may influence the effectiveness of Sales Promotionfor Titanium Dioxide Pigment, Mahatma Gandhi University, and Kerala. Descriptive research design was used for the study. This paper is an account of the quantitative research study based on primary data derived through structured instrument.It was found that because it is a Government firm they can only use only 2 technique of sales Promotion dependent on various factors like Gov. rules, Low price, reliable, security and privacy, time saving, safety. The article concludes by considering the implication for future research.

Keywords: Effectiveness of Sales Promotion, Travancore Titanium Products, Titanium Dioxide

1.INTRODUCTION

Today marketing environment is a dynamic one. Sales promotion is a major factor in marketing environment. It is the marketing disciplines that utilize a variety of incentive techniques to structure sales related programs targeted to customers and 1 or sales levels that generate specific, measurable action or service. Sales promotion refers to those sales activities other than personal selling advertising and publicity that stimulate short term sales. The basic purpose to enhance on the spot buying by customers through several incentives such as free samples gifts, discount coupons, price contest, demonstrations, organizing shows etc. encourage customers for greater purchase of particular product.

EFFECTIVENESS OF SALES PROMOTIONFORTITANIUM DIOXIDE PIGMENT

A STUDY BASED ON SELECTED CUSTOMERS IN THIRUVANANTHAPURAM, DISTRICT





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Sales promotion is the dissemination of information through a wide variety of activities other than personal selling advertising and publicity which stimulate consumer purchasing and dealer effectiveness. The objective of sales promotion is to get quick sales of products. It is a direct approach to include consumers to buy a product or service immediately by temporarily changing the existing price value relationship of the product of services. Sales promotion is a device to promote sale to meet a certain target. It is mean for both the end users at the services and the channels found instrumental in promoting the service.

Travancore Titanium product limited in Trivandrum district is a major producer of titanium dioxide pigment, which has been successful in creating sales promotional techniques for increase the overall sales.

The specific discounts and promotional offers, which are available at regular intervals, make the format unique and distinct. The consumer experiences a new level of standard in price, convenience, comfort, quality and store services levels.

The research paper aims to know the Effectiveness of Sales Promotion for Titanium Dioxide Pigment.

2.Sales Promotion and the Potential Impact of Culture

2.1 Types of Sales Promotion

The majority of past studies on the effectiveness of consumer sales promotion have focused on monetary sales promotions (Dickson and Sawyer, 1990; Dhar and Hoch, 1996; Hoch,Dreze and Purk, 1994). However, in practice, a range of both monetary and non-monetary sales promotions are used (Campbell and Diamond, 1990; Tellis 1998), and there are important differences between them. Monetary promotions (e.g., shelf-price discounts, coupons, rebates and price packs) tend to provide fairly immediate rewards to the consumer and they are transactional in character; non-monetary promotions (e.g., sweepstakes, free gifts and loyalty programs) tend to involve delayed rewards and are more relationship-based. In assessing the effectiveness of sales promotions, it is necessary to examine both types.



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2.2 Benefits of Sales Promotion

Sales promotions can offer many consumer benefits. Past studies have concentrated onmonetary saving as the primary consumer benefit (Blattberg and Neslin, 1993). However,there is evidence to suggest consumers are motivated by several other benefits, including thedesire for: savings, quality, convenience, value expression, exploration and entertainment.These benefits are further classified as either utilitarian or hedonic (Babin, Darden andGriffin, 1994; Hirschman and Holbrook, 1982). Utilitarian benefits are primarily functionaland relatively tangible. They enable consumers to maximise their shopping utility, efficiencyand economy. In general, the benefits of savings, quality and convenience can be classified asutilitarian benefits. By contrast, hedonic benefits are more experiential and relativelyintangible. They can provide consumers with intrinsic stimulation, fun and pleasure.Consistent with this definition, the benefits of value expression, exploration andentertainment can be classified as hedonic benefits.

2.3 Promotion Types and Promotion Benefits

Based on the distinction between the types of sales promotions and promotion benefits,ChandonWansink and Laurent (2000) showed that monetary promotions provide moreutilitarian benefits whilst non-monetary promotions provide more hedonic benefits. Theserelationships are a matter of degree rather than absolutes; for example, coupon promotions(i.e., a monetary promotion) may still provide some hedonic benefits such as the enjoymentin redemption, although its main benefit of saving is utilitarian (Mittal, 1994).

2.4 Congruency Theory and Sales Promotion

The basic principle of congruity states that changes in evaluation are always in the directionthat increases congruity with the existing frame of reference (Osgood and Tannenbaum,1955). In other words, people have a natural preference for consistent information. Theprinciple has been examined in many marketing contexts, including studies of brandextensions and advertising appeals. Applying the congruity principle to sales promotions, it isexpected that sales promotions will be more effective when they provide benefits that arecompatible with the benefits sought from the promoted product. The relevance of thisprinciple is evident



32

from some past studies of sales promotions. For example, Roehm, Pullinsand Roehm Jr (2002) showed that loyalty programs are more successful if they provideincentives that are compatible, rather than incompatible, with the brand. Likewise, Dowlingand Uncles (1997) suggest the effectiveness of loyalty programs is enhanced if programbenefits directly support the target product’s value proposition.Congruency effects for sales promotions were directly tested and confirmed by Chandon,Wansink and Laurent (2000), who showed that: (a) monetary promotions are more effectivefor utilitarian products as they provide more utilitarian benefits, which are compatible tothose sought from utilitarian products; and (b) non-monetary promotions are more effectivefor hedonic products as they provide more hedonic benefits, which are compatible to thosesought from hedonic products. For example, price cuts are more effective than free gifts forinfluencing brand choice of laundry detergent (i.e., a utilitarian product), whereassweepstakes are more effective than price cuts for influencing brand choice of chocolates(i.e., a hedonic product). However, it is noted that there are other factors that may impact onthe congruency effects, including the product life cycle, purchases situations and consumerdemographics. Another possible factor is culture, which is the focus of this study.

2.5 Culture and Ethnic Groups

Culture is difficult to define, but typically it is seen as a set of norms and beliefs that areshared amongst a group of people and that provide the guiding principles of one’s life(Goodenough, 1971; Kroeber and Kluckholn, 1952; Schwartz and Bilsky, 1987 and 1990).Here, culture is defined as the way of life of people grouped by ethnicity, including sharednorms and beliefs that can impact on behavior. This definition is appropriate for severalreasons. Firstly, it implies that culture encompasses all the norms and beliefs of a society – itis the total way of life in a society. As Triandis (1989) suggests, these societal norms andbeliefs will ultimately have an impact upon the dispositions and behaviours of societymembers. Thus, the definition allows for the possibility of culture to have an impact onconsumer behaviour.Secondly, the definition is flexible in allowing for different levels of culture. This is evidentby the notion of “society” within the definition, which means culture is not necessarilyrestricted to a country basis. This is important given the focus of this study is not on nationalculture. Furthermore, it has been suggested that equating culture with nations can beinappropriate (Lenartowicz and Roth 1999; Usunier, 2000). Instead, culture can beconceptualised at different levels and in a variety of contexts (Dawar and Parker 1994;Hofstede, 1991) For instance, culture defined by age or music, as in youth or jazz culture.



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RESEARCH OBJECTIVES

“A study onthe Effectiveness of Sales Promotion for Titanium Dioxide Pigment in Thiruvananthapuramdistrict”will be accomplished by the following objectives:

• To study the Effectiveness of Sales Promotion for Titanium Dioxide Pigment.

• To know the different sales promotional techniques followed by the firm.

RESEARCH QUESTIONS:

In this research, through the literature study and survey method, I have found answers for the following questions:

1) How effective are the sales promotion techniques of Titanium Dioxide Pigment?

2) Which are the techniques used for sales promotion of Titanium Dioxide Pigment?

LITERATURE REVIEW

In a time when customers are exposed daily to a nearly infinite amount of promotional messages, many marketers are discovering that advertising alone is not enough to move members of a target market to take action, such as getting them to try a new product. Instead, marketers have learned that to meet their goals they must use additional promotional methods in conjunction with advertising.

Other marketers have found that certain characteristics of their target market (e.g., small but geographically dispersed) or characteristics of their product (e.g., highly complex) make advertising a less attractive option. For these marketers better results may be obtained using other promotional approaches and may lead to directing all their promotional spending to non-advertising promotions.

Finally, the high cost of advertising may drive many to seek alternative, lower cost promotional techniques to meet their promotion goals.

Sales promotions are used widely in many industries and especially by marketers selling to consumers. We will see that the objectives of sales promotion are quite different than advertising and are specifically designed to encourage customer response.



34

According to one study, the marketing environment has shifted from the “Positioning

Era” of primarily “pull” marketing, driven by creative ideas and heavy media advertising, to a

“Marketing Mix Era” in which push and pull are more evenly balanced. The study attributes this

shift to: (1) consumer factors (consumers having learned or been taught by marketers various

promotion-using behaviors); (2) marketing mix factors (as a stimulus to demand, advertising

may be declining in marginal productivity, compared to consumer and trade promotion); and

(3) trade factors (consolidation in fewer, larger accounts has increased the trade’s bargaining

power.)

There is a gap between actual practice in the use of promotions (as described by

managers)and what these same managers describe as best practice.


Research Methodology is a way to systematically solve the research problem. It may

be understood as a science of studying how research is done. Research methodology is the

way of doing a research or it is a plan which a researcher prepares well in advance before

the data collection. The objective of this research paper is to observe the effectiveness

of Sales Promotion for Titanium Dioxide Pigment, in Travancore Titanium product limited

at Trivandrum district. With the help of it a researcher tends to overcome the difficulties

which could possibly occur at the time of conducting theresearch. A survey method was

adopted in this study. The source of data collection has been primary as well as secondary.

The source of secondary data has been journal articles, research papers, Ph. D thesis etc.

RESEARCH TYPE Descriptive research

SAMPLING TECHNIQUE Descriptive research

SAMPLE UNIT Local customers of Trivandrum district

SAMPLE SIZE 50TOOLS FOR DATACOLLECTION Questionnaire

TOOLS FOR DATA ANALYSIS Percentage analysis method



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CONCLUSION

The study on Effectiveness of Sales Promotion for Titanium Dioxide Pigment in Travancore Titanium Products Limited, Thiruvananthapuramis study with care and special effects have been taken to make the study as specific as possible. The methodology typical proof to show that the study is scientific.

From the study, it is clear that most of the customers are satisfied with their product, price and quality. This study is also clearly states that the customers are expecting to improve their service. So the company can take an action to improve the service. The customers are giving more important for more quality with price of the product. A good quality of service create weightage of the concern.

There is considerable interest and debate over the effectiveness of sales promotion. Previous studies have shown that sales promotions are more effective when they provide benefits that are congruent with those of the promoted product. This study explores and extends the congruency framework by analysing the impact of culture at another group level. The purpose is to investigate the popular assumption that cultural differences exist at this level and to see whether these differences have an impact on sales promotion effectiveness. It is found that despite the existence of cultural differences at a next level, culture does not appear to have a significant impact on consumer responses to sales promotion. It is also found that the congruency effects between product and promotion type are weak and may be non-existent in some cases. Finally, the study also provides evidence that further validates a scale used for the measurement of culture.

The study revealed that sales promotion has an influence in the purchase decision of consumers. It was realized that consumer may not go through the entire decision making process anytime they want to purchase a service or product. This may eventually prevent the consumer from going through all the stages of decision making because of experience and available information to him. Sales promotion there for is an inevitable promotional tool for firms if they really want to maintain or increases their market share. The sales promotion practice in the industry draw is consumers to the product and makes them to impulse purchase.

BIBLIOGRAPHY



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BOOKS

L.R Potti, Research Methodology, Edition Yamuna Publications

C. Nsontakki, Marketing Management, Kalyani Publications, Second Edition; 2015

Kim, H. R. (2005). Journal of financial servicesmarketing.

Liu, X., He, M., Gao, F., &Xie, P. (2008). International Journal of Retail &Distribution Management.

Dr. Sridhar P Nair, Marketing management, Prakash publications second edition; 2014

WEBLIOGRAPHY

www.travencoretitaniumproductltd.com

www.authorstream.com

www.investopedia.com

*Mr.B.TAMILSELVAN , **Ms.S.KAVITHAABSTRACT

Employees are major assets in any kind of organization. Change is very important for any organization since changes are undertaken by altering and aligning the style of work. Without changes placed definitely organization could not sustain in the market. Change is happened day by day because of the various environmental factors, an organization always depends on internal and external environmental conditions an important assumption in management is that employee attitude and reactions to organizational change are closely associated because changes will bring the new kind of attitude among the employees. This study possible to identify the attitude of employees in changing environment. The active role of the each and every employee plays towards a company’s success and it cannot be underestimated. Moreover in today’s highly competitive world employees are the factors which determine success or failure of an organization.So the employee attitude playsan important role in organization change. recently many changes happened in different sectors such as working style, timings, technology changes and so on, in this employee want to sustain the job market definitely they want to accept and adopt the new changes moreover it will support to develop the employee career also based on this aspect This research is carried out and the optimal situation is prevailed to conduct the study in organization change areas, incidentally strong support obtained from management it is possible to conduct census study from the employees except line workers. The researcher uses descriptive research design to carry out this research as it is merely a fact finding study wwabout existing changes of the organization.

Keywords: Change, attitude, environmental conditions, census study

Mr.B.TAMILSELVAN, MBA.,M.PHIL. Asst. Professor/ Department of Management Studies

Tagore Engineering College, Rathinamangalam,Vandalur, Chennai -600 0127, Tamilnadu, India. / Call: [email protected]

Ms.S.KAVITHA, MBA.,M.PHIL,M.A(ECO), PGDHRM

Asst. Professor/ Department of Management Studies Tagore Engineering College, Rathinamangalam,Vandalur, Chennai -600 0127,

Tamilnadu, India. / Call: 9894705858, [email protected]

A STUDY ON EMPLOYEE ATTITUDE TOWARDS ORGANIZATION CHANGE

WITH REFERENCE TO MANUFACTURING INDUSTRYIN CHENNAI





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INTRODUCTION

The economic and political environment of organizations is changing constantly. Organizational change has become a way of life due to three reasons, viz. globalization, and information technology and industry consolidation. Organizations should adapt to the dynamic business environment at least to sustain their market share, value and to survive. Organizational change is the demand of time in order to improve the internal and external functionality of the organizations. Change for organizations is necessary to encounter the diversities and the ever complex market situations. Organizational change results in significant benefits to the organization such as, improved competitiveness, better financial performance, improved employees and customer satisfaction and ultimately leads the organization towards sustained improvement. But the change process is very challenging. Organizational changes affect employees in many ways. Acceptance of change, opposition due to cynicism and attitude of resistance due to fear and uncertainty, ultimately affect the implementation of change in Organizations.The attitude of employees during change process in organization plays a vital role in the implementation of new ideas in the organizations.Attitude is a word related to psychology, and attitude differs from people to people perception. The main focus of research on attitude concerns the nature, function of attitude and how employees mould themselves towards change. The employee attitudes can influence character to formulate the response to change. Employee attitude focused on individual attitude towards change in the organization. The attitude brings positive or negative type of activities of employees during the change process. “Attitude is a mental and neural state of readiness organized through experience, exerting a directive or dynamic influence upon the individual’s response to all objects and situations with which it is related”.To stay a step ahead of the competition, companies need to look for ways to do things more efficiently and cost effectively. Organization change takes place when a company makes an evolution from its current state to some desired expectations. Managing organizational change is the process of forecasting and implementing change in organization in such a way as to reduce employee resistance and cost to the organization while at the same time maximizing the effectiveness of the change effort. From an inactive perception, organizational change occurs as a reaction to an ever-changing environment or as a response to a current emergency situation.

REVIEW OF LITERATURE

Myungweaonchoi (2011)in his paper discussed that organization are gradually required to advance in their capacity to improve employees hold on organizational change. Researchers have determined on various attitudinal constructs that represent employee’s attitude towards organizational change. Change is not an incident divorced from organizational conditions from



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which the change appears. The history of change in the organization surely plays an important role in determining employee’s attitudes towards organizational change

Choi (2011)conducted literature search in two stages to study employees’ attitude towards organizational change. The review showed that employees’ attitude towards organizational change were affected by situational variables, which included, readiness for change, commitment to change, openness to change and cynicism about organizational change. The author demonstrated that the constructs were susceptible to situational variables and there were possibilities that they might change over time as individuals’ experience change.Sayyed Mohsen Allameh (2012) Change has become a normal occurrence within organizations due to the rapid society and economic changes. Employee readiness for change can be a determining factor of successful change. Change is important to the organization’s performance and development. In this regard this study was developed on the basis of relationships of employee attitude and leadership with employee readiness for change. Employee attitudes may be influenced by different socio-economic, political, religious and cultural factors. Employees were more likely to accept change when they receive fairness and equality of outcomes. As we found, employee attitude is a good predictor of change readiness in organization, therefore, for successful change, initially employees’ attitudes should be assessed and then prepared for change the employees can be either the key to achieving effective change for the success. Managers who attempt to achieve organizational change will be well served by paying attention to the need to create readiness for change –at both ends the individual employee and whole-of-organization level – and the ways in which this may be achieved.

E.Rebeka, R.Indradevi(2002) Change is very important for any organization to capture the attitude of employees on change in organization. Employee attitude and reaction to the organizational change is closely associated with the management. It is complex for any organization to direct the change in behavior with both in organization and its employee. Business should focus on planned change. To overcome resistance to change, organization should prepare a clear arrangement and change awareness among employees in order to generate well planned work surroundings and to reduce insecurity. The main focus of research on attitude concerns the nature, function of attitude and how employee mould themselves towards change The problem which Business executives face is employee resistance to change. Management can take concrete steps to deal constructively with this employee attitude. An organization must develop a new vision and a new faith in the workforce before it can approach the organization change process. Positive attitudes of employee towards change and organizational performance will facilitate the organizations to achieve their goals and objectives.



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Khademian (2002) explains, “Determining what needs to be changed and articulating those changes is an essential part of the effort to manage the integration of cultural roots. If managers want to change how the job gets done, they must understand the commitments driving the work of the program and how those commitments might need to change. Articulating those changes helps participants to see the task, the resources, and the skills they bring to the table, and the environment in which they work, differently”. Organizational change can be a stressful time for employees for a number of reasons ranging from learning a new task to jobs being eliminated As such; some employees are more resistant to change while others are more receptive to change.

Need for the Study

The research is needed to study the employee attitude towards organization change. Employees do not show their potential performances and extend their support when they feel something going against them in the organization. This research is attempted to explore the impact of employee attitude on organization change and their relative performances a study on organizational change helps the management to understand the attitude of the employee towards their job. It tells how the people feel about their relationship with the industry they work and their welfare of the job. This research mainly concentrates on studying the employee towards organization change.

SCOPE OF THE STUDY

This study helps the researcher to realize the importance of effective employee attitude.An effective employee attitude toward organization change leads to growth and development. This research study examines the effects on the job performances and resist and also discusses management ideas that can be utilized to innovateorganization. This study would help to enhance the progress of organization by understanding the need of the employees which will in turn create annew change between the employee and the organization and also to improve the existing change.

Objectives

To study the common understanding level of employee in organization change

To study the employees commitment towards organization change



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To determine satisfaction level of employees towards organization change

To study the impact on the performance of employees with organization change

Limitation and Constraints

Some of the respondents were reluctant to answer negatively doubting their answer may not be confidential.

The workers were busy with their work therefore they could not give enough time for the interview.


Research Design:descriptive research design was undertaken in this research.This type of research uses the information which is collected from both primary and secondary data Sample design: A sample design is a definite plan for obtaining a sample from a given population.The survey is carried out from the sample of 150 respondents in Chennai areaMethod of Data Collection:prima data concerned of information which is collected through structured questionnaire method.Statistical Tools: This research was analyzed through statistical tools. They are Percentage analysis Chi-square analysis and weighted average.

Percentage analysis

TABLE SHOWING THE AGE GROUP OF THE RESPONDENTS

S.No AGE(Years) No of respondents percentage1 21 to 25 Years 23 152 26 to 30 Years 26 173 31 to 35 Years 30 204 36 to 40 Years 38 255 Above 40 Years 33 22Total 150 100



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Inference:

The above table shows that 15% of the respondents are belonging to age group of 21 to 25 years,17% of the respondent are belonging to age group of 26 to 30 years,20% of the respondent are belonging to age group of 31 to 35 years,25% of the respondent are belonging to age group of 36to 40years,22% of the respondent are belonging to age group of above 40 years.

TABLE SHOWING OPINION ON AWARENESS ABOUT CHANGE

S.NoParticipation of employees

No of respondents percentage

1 Almost always 38 252 Often 20 133 Seldom 44 294 Rare 31 215 Almost never 17 11Total 150 100



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Inference:

The above table shows that 29% of the respondents are seldom for aware of changes, 25% of the respondents are almost always,21% of the respondents are rare,13% of the respondents are often and 11% of the respondents are almost never on the aware of change happen in your organisation.

TABLE SHOWING ACCEPTING CHANGES OPENLY

S.NoParticipation of employees No of respondents percentage

1 Definite 9 62 Probably 12 83 Not sure 38 254 Probably not 42 285 Definite not 49 33Total 150 100

Inference:

The above table shows that 33% of the respondents are definite not for accepting the changes

openly, 28% of the respondents are probably not,25% of the respondents are not sure,8% of

the respondents are probably e and 6% of the respondents are definite on accept any kind of

changes openly.

Chi-square analysis



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To test whether there exist a significant relationship between the age of the respondents and resist the organization change

Hypothesis:

H0: There is no significance relationship between the age of the respondents and resist the organisation change

H1: There is a significance relationship between the age of the respondents and resist the organisation change

Chi-Square TestsValue df Asymp. Sig. (2-sided)

Pearson Chi-Square 8.575a 16 .930Likelihood Ratio 9.164 16 .907

Linear-by-Linear Association .200 1 .655

N of Valid Cases 150a. 7 cells (28.0%) have expected count less than 5. The minimum expected count is .92.

INFERENCE:The calculated value (.930) is high than significant value of (0.05) there for H1 is

accepted there is a significance relationship between the ages of the respondents and resist the organization change.

Weighted average:

ΣWXi

WEIGHTED AVERAGE = -------------

ΣXi

TABLE SHOWS THAT WHETHER THE RESPONDENTS ARE SATISFIED WITH THEIR CHANGE IN WORK ENVIRONMENT

S.No PARTICULARS NO. OF RESPONDENTS(w) WEIGHT(x)

T O T A L SCORE(wx)

1 Highly Satisfied 36 5 1802 Satisfied 55 4 2203 Neutral 33 3 994 Dissatisfied 19 2 38



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5 Highly Dissatisfied 7 1 7

Total 150 15 544MEAN SCORE= TOTAL SCORE/ NO.OF. RESPONDENT

= 544/150

MEAN SCORE = 3.62

INFERENCE:

From the above table it is inferred that most of the respondents are satisfied with their working environment.

Findings

It is found that 25% of the respondents are 36-40years for age.

It is found that 28% of the respondents are almost always for recognize the changes.

It is found that 35% of the respondents are probably for changes in organization important for growth of organization.

It is found that 40% of the respondents are probably for resist the organization changes make some difficulty in existing changes.

It is found that 41% of the respondents are strongly agree for necessary to cope up with changing environments.

It is found that 30% of the respondents are agree for organization change brings improvement in personal career.

It is found that 28% of the respondents are disagree for new automotive change in work environment.

From the chi-square it was inferred that the calculated value (.930) is high than significant value of (0.05) there for H1 is accepted there is a significance relationship between the age of the respondents and resist the organization change

It is inferred from the weighted average method that most of the respondents are satisfied with their working environment.

SUGGESTIONS

This study is transparently indicates that certain employee groups is not actively aware the benefit and advantages of organizational change. They only know that there is a change in



46

the system but don’t get the opportunities in which that change is taken place. Hence, the management could effectively communicate to the employees about outcome of the change and its benefit which help them to understand it and organization also can engage them in a better way. The result of statistical analysis depict that resistance to change is occurring from a certain group of age group especially an experiences group of employees since they are adopted and fitted with existing system in the organization. Therefore, management can convene a meeting before implementing any change in the organization in which the senior employees can be invited to participate it.

CONCLUSION

The role of Employees’ attitude in understanding reaction towards change and organizational performance was emphasized. Employees embrace reasonably positive attitude towards change because they consider a change as optimistic which activates their rewarding approach. Employees consider that change benefits all employees and would enhance work competence and effectiveness.Resistance is usually created because of certain blind spots and employee attitudes with the technical aspects of new ideas. Management can take concrete steps to deal constructively with these employee attitudes. The steps include emphasizing new standards of performance and encouraging them to think in different ways, as well as making use of the fact that signs of resistance can serve as a practical warning signal in directing and timing technological changes.

BIBLIOGRAPHY

• Choi, M. (2011). Employees’ attitude toward organizational change: A literature review. Human Resource Management, Vol. 50, No. 4, pp. 479-500.

• Myungweao Choi, (2011). Employees’ attitude toward organizational change: A literature review. Human Resource Management, Vol. 50, No. 4, pp. 479-500.

WEBSITESwww.google.com

Wikipedia

HARI PRIYA

ABSTRACTInterrelated Computer, Mechanical, Digital machines, objects, animals or people who are given with unique identifiers and their ability to send and receive data over a stipulated network without any intentional interaction is called IoT or internet of Things.IoT system consists of internet enabled smart devices that use embedded processors, sensors and communication hardware to collect, send and act on data they acquire from their environments. IoT devices share the sensor data they collect by connecting to an IoT system or other edge device where data is either sent to the cloud to be analysed or analysed locally.

Key words: Iot, Computer, RFID

HARI PRIYA

MBA Student, School of Management Studies, VISTAS

INTERNET OF THINGS

WHAT IS INTERNET OF THINGS?Interrelated Computer, Mechanical, Digital machines, objects, animals or people who are given with unique identifiers and their ability to send and receive data over a stipulated network without any intentional interaction is called IoT or internet of Things.

Kevin Ashton from MIT, first came up with the concept of Internet of Things in a presentation that he made Procter and Gamble (P&G) Group in the late 90s. He wanted to bring the RFID into Senior Management of P&G and called the presentation as IoT.

The concept of IoT has grew from convergence of the wireless technologies and the Internet. In layman terms, IoT is a theory of connecting all the elements in the planet to internet and the ability to identify themselves to other elements / devices.

If we had computers that knew everything there was to know about things using data they gathered without any help from us – we would be able to track and count everything, and greatly reduce waste, loss and cost. We would know when things needed replacing, repairing or recalling, and whether they were fresh or past their best.





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We think about being connected in terms of computers, tablets and smartphones. IoT describes a world where just about anything can be connected and communicate in an intelligent fashion. In other words, with the internet of things, the physical world is becoming one big information system that helps in a vastly better data communication for the betterment of possibly everything.

ARCHITECTURE

IoT system consists of internet enabled smart devices that use embedded processors, sensors and communication hardware to collect, send and act on data they acquire from their environments. IoT devices share the sensor data they collect by connecting to an IoT system or other edge device where data is either sent to the cloud to be analysed or analysed locally. Sometimes, these devices communicate with other related devices and act on the information they get from one another. The devices must do most of the work without human intervention, and people can interact with the devices.

ENTERPRISE LEVEL INITIATIONS

European Mobile operator services company – Vodafone has implemented IoT in their digital ecosystem in Netherlands. After that most of their competitors in Netherlands have started to do the same but in smaller proportions. The report from Gartner says that the companies that has implemented IoT has considerably have seen good improvement in their revenue that has possibly caused by IoT Implementations.

The figure is striking given that last year, Vodafone’s IoT trends report for the Netherlands found that organizations that do embrace IoT achieve a significant revenue increase, cost reductions, more satisfied customers or more efficient business processes.

The problem appears to be a lack of understanding, rather than a reluctance to adopt the IoT, because the report said that more than a quarter of the companies (28.5%) surveyed regarded their IoT knowledge as limited to almost non-existent.

OUTCOME OF IOT

Currently only a little less than 10 percent of the companies worldwide consider the reports that they gain from IoT implementations to be good enough to take everyday decisions at their organizations. Whereas , companies like Vodafone, P&G, PWC who have already been to this space for quite a while now instigated that if properly implemented and monitored with utmost belief, it is a system that gives wonders in terms of decision making ability.

VMJ – VOLUME – 7 / ISSUE – 1 / June 2018VMJ – VOLUME – 7 / ISSUE – 1 / June 2018



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There are a lot of real world applications of the IoT, ranging from consumer IoT and enterprise IoT to manufacturing and industrial IoT. IoT applications span numerous verticals, including automotive, telco, energy and more. In the consumer segment, for example, smart homes that are equipped with smart thermostats, smart appliances and connected heating, lighting and electronic devices can be controlled remotely via computers, smartphones or other mobile devices.

REAL WORLD APPLICATIONS

Wearable devices with sensors can collect and analyse user data, sending messages to other technologies about the users with the target of making users’ lives easier and more comfortable. Wearable devices are also used for public safety, like improving first responders’ response times during emergencies by providing optimized routes to a location or by tracking construction workers’ or firefighters’ vital signs at life-threatening sites.

In healthcare, IoT offers many benefits, including the ability to monitor patients more closely to use the data that’s generated and analyse it. Hospitals often use IoT systems to complete tasks such as inventory management, for both pharmaceuticals and medical instruments.

THE FUTURE OF IOT• There is no shortage of IoT market estimations. For example:

• Bain & Company expects annual IoT revenue of hardware and software to exceed $450 billion by 2020.

• McKinsey & Company estimates IoT will have an $11.1 trillion impact by 2025.

• IHS Markit believes the number of connected IoT devices will increase 12% annually to reach 125 billion in 2030.

• Gartner assesses that 20.8 billion connected things will be in use by 2020, with total spend on IoT devices and services to reach $3.7 trillion in 2018.

REFERENCES:

1. The Industrial Internet of Things Volume G5: Connectivity …” Accessed June 20, 2017. https://www.iiconsortium.org/pdf/IIC_PUB_G5_V1.0_PB_20170228.pdfThe Industrial Internet of




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Things Volume G5: Connectivity …” Accessed June 20, 2017. https://www.iiconsortium.org/pdf/IIC_PUB_G5_V1.0_PB_20170228.pdf.

2. “Oxford Dictionaries – Dictionary, Thesaurus, & Grammar.” Oxford Dictionaries | English. Accessed June 20, 2017. https://en.oxforddictionaries.com/

3. Bloem, J. and van Doorn, M. and Duivestein, S. and Excoffier, D. and Maas, R. and van Ommeren, E., “The fourth industrial revolution. Things to tighten the link between IT and OT,” Sogeti. VINT (vision, inspiration, navigation, trends), 2014.

MR.M.SANKAR

ABSTRACT

Non-performing assets are becoming dangerous. It affects the growth of the economy. The industry growth also gets affects because of non-performance. The people who have taken loans are not able to pay the loans on instalment basis properly; it is disturbing the image of the banks. The study concludes that ways need to be found by banks in order to solve this issue.

Mr.M.SANKAR

Ph.d Scholar, School of Management Studies, VISTAS

A CASE STUDY ON THE NON-PERFORMING

ASSETS IN BANKS

INTRODUCTION

Non-Performing Assets is arises because of non-payment of loans taken by the customers. It affects the performance of the banks. It affects the growth of the economy. Banks need to have best practices in order to curb such unwanted things that affects the reputation of the banks.

GROUPING OF NPA have been divided or classified into following four types:

1. Standard Assets

2. Sub-Standard Assets

3. Doubtful Assets

4. Loss Assets





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REASONS OF NON-PERFORMING ASSETSNPA arises due to a number of factors or causes like:-

1. Assumption

2. Fake Rehearses

3. Fradulent Practices

4. Diversityof Funds

5. Other Basic Reasons

6. External Reasons:

STATEMENT OF THE PROBLEM

The main motto of banks is to work for the people by giving loans and advances for

requiredpersons for theupliftment, even for the businessdevelopment and for the development

of the economy. The loaners are not paying the cost to the banks frequentlyon the dates

anditaffects the results of the financial institution. This is taken as the basis of the study.

TheNon-performing propertywill not bring revenue for banks are sharploss for banking

institution. Rather than making profit for the bank, NPA brings down the image of the bank.

Hence this affects the economy. It touches the mainprofit making of the institution and worstly

affects the yield on equity and return on property items of the banks.

OBJECTIVES OF THE STUDY

2.1 Primary Objective:

To study on Non-performing assets with special reference to banks in Chennai.



53

REVIEW OF LITERATURE

The review of literature for non-performance assets are as follows:

M. Karunakar et.al (2008), highlights on the non-performance status of the banks in India. The author highlights that non-performance assets needs to be looked into very seriously.

Selvarajan B (2013) in his study on has done the comparative study of several banks in India. He concludes that non-performance assets affects the return and consistency of the banks.

RESEARCH METHODOLOGY DESCRIPTIVE RESEARCH:

This study is descriptive in nature. Descriptive studies attempt to get comprehensive and precise description of a condition. Precise statement of the problem indicates that information is required. The study must be designed to provide for the collection of this information if not properly designed the information obtained may be inaccurate or inappropriate. The data are obtained through a detailed study of the existing system and from the records of the company.

TOOLS AND TECHNIQUES

The following tools and techniques have been used for carrying out the study.

• Ratio Analysis

GROSS NPA RATIO

Gross NPA Ratio = Gross NPA/Gross Advances*100

Table -5.1.1 showing calculation of Gross Non-Performing Assets Ratio for the year 2009-2014

Year 1 2 3 42009-2010 3.04 3.42 4.05 4.472010-2011 4.3 3.78 3.26 2.722011-2012 2.76 3.07 3 2.74

2012-2013 2.97 3.87 4.13 4.02

2013-2014 4.45 4.65 5.27 4.98



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Diagram -5.5.1 Bar Diagram showing of Gross Non-performing Assets Ratio for the year 2009-2014

INFERENCE:

The above table indicates the Credit Appraisal Policy of the banks. From the above table it can be seen that from the year 2009-2010 (4.47%) the ratio was increasing trend in all quarters because of poor credit policy and wrong selection of borrowers. In the year 2011-2012 (2.74%) the ratio has been showing a decreasing trend because of bank as take some recovery action against large NPAs and Credit Information Bureau of India Limited (CIBIL).

NET NPA RATIO

Net NPA Ratio=Gross NAP-Provision/ Gross Advance – Provision*100

Table-5.1.2 showing calculation of Net Non-performing Assets Ratio for the2009-2014

Year 1 2 3 4 2009-2010 1.59 1.59 2.71 2.522010-2011 2.21 2.04 1.51 1.192011-2012 1.08 1.21 1.19 1.35



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2012-2013 1.48 2.25 2.33 2.52013-2014 2.81 2.83 3.24 3.2

Diagram-5.1.2 Bar diagram showing of Net Non-performing Assets Ratio for the year

2009-2014

INFERENCE:-

The above table shows the excellence of bank if it is not performing. It highlights the

degree of risk. High Net NPA ratio highlights the stumpycredit policy and danger of bank.

From the above table showing in the year 2009-2010 the ratio was increasing trend hence the

improper credit policy of the bank. In the year 2010-2011 (1.19%) the ratio has been showing

a decreasing trend. In the year 2013-2014 (3.2%) the ratio has been showing increasing trend.



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FINDINGS OF THE STUDY

The financial institution has 16 specialized Asset Recovery Management Branches (ARMB) to improve the recovery of NPA accounts. To expedite recovery, around 208 Recovery Officers were deputed to regions to specifically focus on recovery.

The bank sees the excellence of loan portfolio, by finding the glitches and takes immediate steps to correct problems. The aim is to minimize downfalls of performing assets to non-performing assets batch. Micro watching of the accounts by separation and follow up of the

financial records on daily basis helps the bank to reduce the basic slippages.

CONCLUSIONBanks should know about the customers very well before sanctioning loans to them. Proper practices like collection of KYC forms from customers will help to bring down the problem of NPA.

REFERENCES

• M. Karunakar et.al (2008), Are non - Performing Assets Gloomy or Greedy from Indian

• Selvarajan B. and Vadivalagan G., “A Study on Management of Non PerformingAssets in Priority Sector reference to Indian Bank and Public Sector Banks(PSBs)”, Global Journal of Management and Business Research, Vol.13, No. 1,2013, pp.101-114.

Mrs.KANCHANA ARUN

Author : Debra F. Cannon & M. Gustafson(2012)

This book is written for several different aspiring hospitality audiences. In the world of hospitality training is dynamic and modified to the changes in the process. The first chapter has precisely described the effects of work force, strategic planning and the technology has on the training of the hospitality industry. This chapter has engaged into principles of adult learning and a very effective training and development activities such as scheduling of the programme, adjustment in the cultural diversity, has given an eye opener in the issues and disabilities encountered by the trainee. Second chapter identifies the importance of training and highlighting it has the best investment. A very specific and systematic approach is followed in this book for the development of cost-benefit analyses.

The third chapter gives excellent comprehensible and detailed methods to be followed while assessing the trainings needs of the hospitality industry. The authors have made tremendous effort to ensure that the principlesof Instructional design is followed while preparing the objectives, sequences, methods and the role of implementation and the evaluation. The advantages and the disadvantages of the various types of technology-based training is very well discussed and explained to its full potentiality.

Mrs. KANCHANA ARUN

Ph.D Research Scholar, School of Management Studies, Vistas

A REVIEW TRAINING AND DEVELOPMENT FOR

THE HOSPITALITY INDUSTRY





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The following chapter highlights the importance of measuring and evaluating training and development. This chapter enables the employee to develope their knowledge, improves their skills and emphasize on the change in the employee attitude. An outstanding outline on how the trainers use the four step method and learning process in the communication techniques. An exceptional description on how the organisation benefits on the orientations programs and optimum socialization process is well elucidated for the employees to follow in the programme.

The fifth chapter precisely illuminates the importance of mentoring, explains the characteristics of a mentor and describes the ways to maximize the success of mentoring. A striking description of the process of supervisory and management development and its benefits is also well explained. The authors have intellectuallyidentified how training and development can facilitate the organisational ch ange and describes the training styles and topics used to train supervisors and managers for the betterment of the company.

In the last chapter the authors have explored the importance of the executive education program and clearly surveyed the various types of executive programs. Importance is given to describing how electronics delivery is affecting executive educations and effectively explains the role of professional associations play in executive educations. The information in this chapter will enable the executives to develop their career to the next level. Finally the authors have included the outsourcing training and development advantages and disadvantages. Excellently describing the different categories of outsourcing and listed out effective outsourcing process and explained the criteria on how to select the vendors.

This book is an excellence read for the core of every great customer service organisation comprising of a package of systems and a training programme to inculcate those programs into the soul of the hospitality organisations.

VMJ – VOLUME – 7 / ISSUE – 2 / DECEMBER 2018

dr. ishari k ganesh - vels univ

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