ETHICS IN BUSINESS

Corporate Governance with Conscience - A Gateway For Economic Prosperity

Governance based on rules, regulations, legal framework, codes of conduct and ethics will lead to creative manipulative practices by the people so responsible for this by finding the loopholes and ways and means to side step every such prescription. Greed leads to clouding of the soul, and hence a behavior that is totally self-serving- seeking money, power and prestige on ever non-satisfying journey at the cost of interests of others. The type of leadership and its character are the most important factors in governance with conscience. Wisdom lies in awakened self-interest which is always served when one serves others, and cares for the humanity at large. Self-seeking behavior can be perceived to be beneficial in the short- run, but in reality it is not. Long-run interests always depend on building blocks of short-run motives. One cannot be ethical in the long-run being unethical in the short-run. Short-run supplements the long-run. Governance by leaders of character based on conscience will lead to make corporations useful to the humanity.

Dr.Kamal Kant
Principal
Government Degree College
Kullu,Himachal Pradesh 

Lessons In Corporate Governance From the Satyam Saga

Post the Satyam saga, Corporate Governance is becoming an oft-repeated word. Satyam has been just about a year back, awarded the “Golden Peacock” for global excellence in corporate governance. Yet it collapsed within a year. This paper, after delving into the definition of corporate governance details out why did this happen. Large scale manipulation of figures, an highly “promoterized” board and hand-in-gloves auditors are some of the reasons for this sudden downfall. The three pillars-the investors, the regulators and the companies themselves need to inoculate themselves with these learnings towards a better tomorrow.

STRATEGIC DECISION MAKING

Strategies of Nirma To Become Goliath

 The paper aims at developing insight about whether local brands can survive in presence of global brands or not. Indian market is flooded with a variety of foreign goods, and in this scenario, Indian brands are fighting for survival. But it is possible for local brands to survive if they can study the business environment thoroughly and accordingly decide their strategies with innovation.This paper deals with strategies of Nirma that has helped it in surviving in spite of presence of HLL (now HUL).
 

INNOVATION

Collaborative Innovation: A New Dimension To Innovation

For consumer the world is changing, fuel prices are volatile, jobs & compensation are in jeopardy, loans are harder to get & debts are more difficult to pay off. For B2B customers, volumes & margins are shrinking, credit is tightening & suppliers are getting tougher. Under these pressures, the customers want new types of offerings, support & guidance from the companies. It’s an ideal time to innovate & come up with the offerings which can guide the perplexed customer to go for the fairest deal.The paper illustrates the importance of collaborative innovation for sustainable development which remains a high strategic priority for most companies even in the current economic turmoil & recessionary phase. The companies are looking for innovative strategies to be ‘near & dear’ to their stakeholders avoiding putting more pressures on their already escalated costs. They are forced to think unconventionally i.e. ‘discovering sources of competitive advantages, the competitor is not aware of’. They are in the mood to go for ‘out of the box thinking’ to give some cushion to the already depleting profit margins. In the current tightening & competitive scenario, the companies are interested in finding the relationships between the spending on innovation & shareholder values therefore the paper focuses on the different ways to derisk & capitalize on the innovation program through series of collaborative innovations The paper also highlights the importance of collaborative innovations to share the risk & rewards for the upcoming products & processes.
 

Uday Khanna
Sr.Lecturer
Graphic Era University,Dehradun
khannauday77@gmail.com

PUBLIC MANAGEMENT

Consumer Protection in India (With Special Reference to Andhra Pradesh)

Our country is a developing country facing problems like illiteracy, poverty and unemployment; the self-motivated manufacturers and traders can exploit people very easily. They are exploiting the consumers because of their ignorance of their consumer rights. Though they are aware of their consumer rights, they are unable to get justice through the courts, which are known for their delay, very completive nature of rules and regulations and expansiveness. In these circumstances, the consumer protection has acquired immense importance. The purpose of the study is to analyze the role played/playing by the consumer protection agencies and to suggest measures.

ppraveen_s65@yahoo.co.in

OPERATIONS  MANAGEMENT

Empirical Study on Operational Efficiency in Retail Stores in Chandigarh Tricity

India’s organized retail sector is growing at a rapid pace. Some of the factors responsible for speeding up the growth of retailing in india are rapid urbanization, increase in disposable income, rising number of young qualified working professionals, easy availability of loans etc. Therefore, understanding and calculating operational efficiency of retail stores has become a significant concern to organized retailers. The present paper is an attempt towards this direction. The study has been conducted in Chandigarh Tricity (Chandigarh and its satellite cities of Mohali and Panchkula) keeping in view the dynamically growing organized retail here. The data of 200 retailers for the present research covers time frame from the year 2007 to 2008. After an extensive literature review it was pertinent that size of retail stores and their location played a significant role in measuring the operational efficiency of retail stores. An empirical analysis was conducted using chi-square test of independence to understand the role & contribution of type of retail formats on operational efficiency and to examine the impact of location on the same. It was concluded from the data analysis that there is significant influence of format of retail stores and location on the operational efficiency. However, the degree of association is not very high.

ENTREPRENEURSHIP AND INNOVATION

Globalization-Challenges Faced By Women Entrepreneurs

As technology speeds up lives and the new millennium is now upon us, it is useful to take time to reflect on what will surely be one of the driving forces of the global economy of the 21st century. Women are an emerging economic force that policymakers cannot afford to ignore. There are however a number of constraints to women owned businesses that need to be addressed. In overcoming these obstacles, there are actions to be taken by government, financial institutions and employers’ organizations by working closely with women business associations. It is important for women entrepreneurs to join hands with mainstream employers’ organisations so that these obstacles, challenges and problems can be turned into legitimate policies. Globally, women are enhancing, directing, and changing the face of how business is done today. Ultimately, female business owners must be recognized for who they are, what they do, and how significantly they impact the world’s global economy.