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Symbiosis Institute of International Business (SIIB)

Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013

e-Abstract Book of International Conference on Trade, Markets and Sustainability (ICTMS-2013)

Organised by

Symbiosis Institute of International Business (SIIB) A Constituent of Symbiosis International University (SIU), Rajiv Gandhi Infotech Park, G.No. 174/1, Phase-1, Hinjewadi, Pune 411 057, Maharashtra State, India

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013

Organizing Committee
Convener Ms. Manisha Ketkar Officiating Director, SIIB, Pune, India Email: convener@siibconference.in Organizing Committee Dr. Prakash Rao (prakash.rao@siib.ac.in) Dr. Yogesh Patil (yogesh.patil@siib.ac.in) Dr. Medha Joshi (medha.joshi@siib.ac.in) Dr. Sridhar Kundu (sridhar.kundu@siib.ac.in) Dr. Shubhasheesh Bhattacharya (shubhasheesh.bhattacharya@siib.ac.in) Dr. Anitha Pathak (anitha.pathak@siib.ac.in) Dr. Uma Devi Chollangi (umadevi.kouru@siib.ac.in) Organizing Secretary Dr. Jayati Chourey (jayati.chourey@siib.ac.in) Ms. Shilpa Kulkarni (shilpa.kulkarni@siib.ac.in)

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013

Advisory Committee of ICTMS-2013


Dr. Amitabh Kodwani, Professor of OB & HR, Indian Institute of Management (IIM), Rohtak, India Dr Arvind Sahay, Professor, Indian Institute of Management (IIM), Ahmedabad, India Dr Gert Spaargaren, Professor, Environmental Policy Group, Wageningen University, The Netherlands Dr K M Reddy, Principal Scientist, National Academy of AARM, Hyderabad, India Dr. KPC Rao, Former Principal Scientist, ICRISAT and NAARM and Chief Consultant,Hyderabad Dr Lalith Achoth, Professor & Head, Dairy Economics & Business Management, Karnataka Vet Science & Fisheries University, Bangaluru, India Ms. Lilliana Arrieta, Coordinator, REDICA- (Red Centroamericana de Instituciones de Ingenieria - Central American Network of Educational Institutions), University of Costa Rica, San Jose, Costa Rica Dr. M.J. Xavier, Director, Indian Institute of Management (IIM), Ranchi, India Dr. Madhvi Sethi, Associate Professor in Finance, Symbiosis Institute of Business Management (SIBM), Bangaluru, India Dr. Marcel Bursztyn, Professor, Centre for Sustainable Development, University of Brasilia, Brazil & Centre for International Development, Kennedy School of Government, Harvard University, USA Dr. Marina Dabic, Professor, Department of International Economics, Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia Dr. Mathias Schuz, Professor, School of Management & Law, University of Zurich, Stadthausstrasse, Winterthur, Switzerland Dr. N.K. Chidambaran, Assistant Professor in Finance, Graduate School of Business, Fordham University, New York, USA Dr. Narendra M. Agrawal, Professor, Indian Institute of Management (IIM), Bangalore, India Dr. Nimal Gunawardena, Professor, Department of Agricultural Engineering, University of Peradeniya,Peradeniya, Sri Lanka. Dr. Omkarprasad Vaidya, Professor, Indian Institute of Management (IIM), Raipur, India Dr Paul Taylor, Consultant & Ex-Director Cap-Net, United Nations Development Programme (UNDP), Lydbrook, Glos., UK. Dr. Padma Srinivasan, Director - Academics, Manipal University, Manipal, India Dr. P. Saravanan, Professor of Finance, Indian Institute of Management (IIM), Shilllong, India Dr. Raj Singh, Vice Chancellor, Ansal University, Gurgaon, India Dr. Rajen Gupta, Professor, Management Development Institute (MDI), Gurgaon, India Dr. Satendra Kumar, Professor & Head, Research Centre, CKSV Institute of Management, Vadodara, India Dr. Seema Sanghi, MD, Styrax Consultants (P) Ltd., Gurgaon & Former Director, FORE School of Management, New Delhi, India Dr. Shanker Murthy, Professor, National Institute of Industrial Engineering (NITIE), Mumbai, India Dr. Shirish Sangle, Professor, National Institute of Industrial Engineering (NITIE), Mumbai, India Dr Sushil Kumar, Professor, Indian Institute of Management (IIM), Lucknow, India Dr. Upinder Dhar, Vice Chancellor, JK Lakshmipat University, Jaipur, India Dr. Vidyanand Jha, Professor in Behavioural Sciences, Indian Institute of Management (IIM), Calcutta, India Prof. Walter Leal, Head of the Research and Transfer Centre -Applications of Life Sciences, Hamburg University of Applied Sciences, Hamburg, Germany

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013

About the Conference


In an increasingly globalized market place, the future of mankind is perhaps dependent on how market forces drive economic development around the world. The present global economic situation perhaps calls for fiscal prudence in terms of optimizing resource use given the deepening crisis across various continents. Most global and Indian economic analysts see changes around the world as being linked to factors like the Euro Zone crisis, the instability of West Asian geopolitics, the depreciation of the rupee, global energy needs, issues in environmental and land acquisition etc. Significantly several economies have had to contend with one or more of these issues as a stumbling block in their path towards growth in recent times. It is also important to note that the twin forces of trade liberalization and globalization have transformed global markets in the last two decades. With world leaders in conflict on finding ways and means to tackle the present global economic situation might suggest that investor confidence and sentiments are low. Although slowdown in manufacturing, a sluggish investment scenario and inadequate global consumption demand may be cited as key reasons for this, there is nevertheless a lot of positive examples of new and emerging growth stories from different geographies. In the last ten years, emerging markets have played a significant role as players in re-shaping the global competitive landscape. The ever increasing world population, the rising demand for food, energy, water, access to goods and efficient services, greenhouse gas emissions, etc. are key indicators of economic growth paradigms. In the coming decade, economies are likely to focus on efficient trade mechanisms consumption of goods and services, new and emerging markets, innovation and sustainability and ability of industry to develop new managerial ideas and strategies. The International Conference on Trade, Markets and Sustainability will be an interdisciplinary conference and seek to understand some of the major opportunities and challenges in global economies particularly in key priority sectors. The Conference will aim to deliberate on issues around global trade mechanisms and networks and its linkages to development, emerging market mechanisms that provide transformative solutions including potential game changers in business and industry, innovative product development for new markets including strategies around innovation and analyze current social, technological, environmental and management issues that govern societal change. Research papers will be presented at the Conference across four tracks: Track 1: Management Issues Track 2: Markets Track 3: Trade Track 4: Sustainability The main objectives of the conference are: To make a comparative analysis of various issues in global trade, markets and reforms and sustainability To explore changes in global trade practices as a driver of economic progress in developed and developing economies To examine the prospects and challenges of new and transformative markets and its implications for economic development in emerging markets To evaluate recent trends and progress in sustainability and development from a societal and institutional perspective To analyse recent management issues and practices in new and emerging disciplines

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013

Track 1: Management Issues


At a time when the global economic situation is floundering on the back of a series of events which could threaten the very fabric of our society , it is perhaps fundamental to evaluate some of the underlying factors that drive the world of business which has led us to the present state. Some theorists often believe that globalization and trade have perhaps brought the world closer than ever before and yet faced with a host of issues that requires a deeper understanding and analysis in a new world economic order. A paradigm shift in the way we are transforming our society based on emerging market realities has led to a new level of thinking of how businesses need to operate in a shrinking world. Emerging market blocs are also likely to face uncertainties in the future in terms of economic growth and development and redefine global geopolitics. The world of business and industry will need to rethink their operating strategies with a view to remaining sustainable in the long run despite the economic upheavals of the present decade. Issues related to redefining global marketing practices, innovating business logistics and operations and understanding human behavior in an era of changing societal values is perhaps the need of the hour.

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Brand rejuvenation: The effects of hypothetical brand extensions on existing brands


Sheena* and G. Naresh
School of Management, Pondicherry University, Karaikal Campus, Karaikal, India. Email: sheenasuresh2002@yahoo.co.in, kgnaresh@gmail.com Branding is an imperative gauge to succeed in the world of business. It is about bringing together an organization around an exceptional principle. The consumers of today are no more concerned in what the company is, but rather what the company thinks and contemplates. When creating a brand, the brand must have frontage on the consumer. The solution to successful brand development is to be aware of a need or desire which has not been enjoyed by the consumers. The companies should thus be in regular research to discover their needs and to satisfy them with the help of brand extension strategies. A brand extension is using the power of a well established brand in one category to launch a new product in another category. They increase not only the profits but also help to break through and take over a new market. The FMCG sector has largely seen this kind of growth. Factors such as high advertising costs and the dwindling competition for shelf space in retail stores have encouraged companies to introduce brand extensions (Aaker 1991; 1996). However, these strategies are not without risks. Many researchers state that 30%-35% of all new products fail (Montoya Weiss and Calantone 1994; Booz, Allen and Hamilton 1982). Such unproductive extensions shall endanger the parent brand which can result in colossal losses to the company. Even though brands may be very important to consumers, their management may be more complicated than ever. Therefore, it was considered necessary to investigate the various contributing factors for new extension success and the attitude of retailers and consumers towards new products or extensions based on various variables. The data were collected from 360 retailers and 360 consumers from the four major cities of South India viz; Bangalore, Chennai, Cochin and Hyderabad. On an in depth review of the literature on management of brands, the following variables were arrived at such as Expected quality, Purchase intention or intention to stock new extensions, nature of appeal, appropriateness of price, Similarity to parent products, Trustworthiness, Popularity ,Suitability to lifestyle, Utility , uniqueness of the new extension from others. In this context, discriminant analysis was applied to assess the responsiveness of retailers and consumers towards the various factors affecting the success of brand extensions. Nevertheless, the present study may also help to answer the questions regarding the management of FMCG brands in India with respect to the effect of hypothetical brand extensions on their core brands. Keywords: Hypothetical Brand Extensions, Retailers, Consumers, Parent Brands

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Critical analysis of management information system of selected Indian microfinance institutions


Abhishek Behl
Symbiosis Institute of Business Management (SIBM), Symbiosis International University (SIU), #95/1, 95/2, Electronics City Phase 1, Hosur Road, Bangalore 560100, India Email: abhishekbehl27@gmail.com With the advent of technology, banking sector has grown in terms of profit. Peeping into the reasons of the same we would find various factors but core banking solutions has given an entire new face to banking and financial sector. Management information system (MIS) laid a strong foundation on which any institution dealing with finance as a department relies on. Expansion of business, serving their existing client base, adding new customers to their family and to generate an aura of competition amongst the market are some of the key reasons firms across globe are using MIS systems. Microfinance sector needs MIS for gearing up economic stability, increasing performances and manage flow of funds because a high outflow of funds might fluctuate the economics of loan disbursement. This gives an idea and an area of research on MIS systems in Microfinance institutions (MFI). This research paper focuses on various MIS systems available in the market. It focuses on the current structure of MIS systems in MF sector and research on the existing scenario of competition with respect to various vendors offering similar services. The findings of the research indicate that currently there is diversity in the services and packages offered by vendors and there is a need to build up common software for all the microfinance institutions to bring in uniformity. Core banking solution has evolved in the area of banking and the support has been offered by software giants like Infosys and TCS to bring in a uniform standard. Keywords: Microfinance Institutions; Management Information System; Technology

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Role of rural marketing in the economic development of emerging markets like India
Anita Sengar*, Kumkum Bharti, Vinay Sharma and Rajat Agrawal
Department of Management Studies, Indian Institute of Technology, Roorkee, Uttarakhand 247667E-mail: anita.sengar@gmail.com, Contact: 91-9411160553 E-mail: kumkumbharti.iitr@gmail.com, vinnu871@gmail.com, rajatfdm@iitr.ernet.in Introduction Rural Marketing has been exercised with disparate understanding regardless of the geographies associated, but the explicit role it may play in terms of economic development of especially the emerging economies is well understood by now. Organizations have anticipation and high expectation from these markets, reasons being not only the promise they have but also the competitive pressures companies are facing in urban markets. This paper presents an understanding of prospects and challenges associated with rural markets and rural marketing in a systematic manner emphasizing upon the areas specifically to be addressed for capitalizing upon these markets. Methodology The paper is conceptual based on the review of academic literature and practices of rural marketing. The paper reflects our experience and views on prospects and challenges being faced by rural marketers and role rural marketing plays in economic development. Results and Discussion The paper intends to be suggestive of role rural marketing may play in the economic development of emerging economies. Prospects include education, health, energy, rural technology and agricultural advancements through rural marketing leading to economic development of these emerging markets whereas challenges varies from government policies, managerial challenges, acceptability of services to cultural disparity. Keywords: Challenges; Economic development; Emerging economies; Prospects; Rural marketing.

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Performance assessment of Tennis Players: Application of DEA


Asmita Chitnis 1* and Omkarprasad Vaidya 2
1*Symbiosis

Institute of International Business, Symbiosis International University (SIU), Rajiv Gandhi Infotech Park, Phase I, G. No. 174/1, Hinjewadi, Pune 411057, India Email: asmitachitnis@gmail.com 2Indian Institute of Management (IIM) Raipur, GEC Campus, Sejbahar, Old Dhamteri Road, Raipur - 492015 Email: vomkarin@yahoo.co.in Competition today, has become intense not only in business but also in sports. At times the performance of a sportsman is linked to her/his ability to earn endorsements and sponsorship from the corporate world. In the present work, we consider the performance assessment of professional lawn tennis players using a nonparametric approach called Data Envelopment Analysis (DEA). DEA is known to measure relative performance of a business unit or an individual called Decision Making Unit (DMU). In this study, data of forty professional men tennis players are evaluated and their individual performance is assessed using the CRS-DEA model with output orientation. The input and output parameters considered are overall matches played, the number of grand slam matches played, ATP world tour masters 1000 played, overall matches won, number of grand slam matches won, number of ATP World Tour Masters 1000 won, number of tie breaks won, number of finals won, number of matches won in the deciding set, number of matches won after winning the first set and number of matches won after losing the first set. Finally, an attempt is made to compare the results obtained using DEA with those obtained by the Association of Tennis Professionals (ATP). Keywords: Data Envelopment Analysis; Lawn Tennis; Performance assessment

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Analysis of micro car, Tata Nano in PCMC, Pune


Beena John
PhD Research Scholar, M.S. University, Tirunelveli & E-9, Premsagar, Near PCMC auditorium, Chinchwad, Pune 411033, India Email: beenajohnbeena@gmail.com Indias passenger car market ranks worlds seventh largest by volume, larger than market like United Kingdom, France and Spain. According to a recent survey by KPMG International, emerging markets will drive global demand for products in the coming years and India is one among them. Many automotive manufacturing organizations poised for growth have focused recently with more efficient small cars. In a country with a developing road network and relatively low incomes, cars are still a luxury. The introduction of the affordable revolutionary mini car, the TATA Nano and the designing of many more affordable small cars by car manufacturers opened up the possibility of a change in the present trend. Motivated by the fast paced changes in the country; this study aims to assess the aspiration of TATA NANO consumers in a rapidly growing city like Pune, a representative city in Maharashtra. This paper is an exploratory study to analyze TATA NANO consumer preference and analysis has been done on various variables like product performance, mileage and factors influencing the Customers. Keywords: Consumer preference, Emerging markets, Micro car NANO, Vehicle ownership

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Human resource planning model and process: A select review of literature


B. N. Kamble
Indian Institute of Education, J. P. Naik Path, Kothrud, Pune - 411038, Maharashtra, India Email: bnkamble@hotmail.com Human Resource Planning (HRP) includes planning of workforce, succession, skills, employment equity, economic empowerment initiatives, motivation, pay levels to recruit retain, a grading and remuneration, a consistent performance, career development, policies and frameworks to ensure people development etc. The paper is based on the selected review of the concern object with aim to discuss the concept of human resource planning, workforce planning, human resource planning model, planning process and execution. The paper is organized in five sections. The strategic human resource planning model(SHRP)approach involves six steps. The overall human resource management process comprises four steps. The first step is concerned with the projection methods, quantitative and qualitative of labour supply and demand and the second step is related to the objectives of HRP. The third step is the design and implementation of HRP, The fourth step is the evaluation which feeds back into the first step. The paper concludes that the four steps in the HRP process support each other. The HRP strategies developed to support the achievement of the organisation's objectives. Keywords: Human Resources, Planning Concepts and Execution, Work Force

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Social media, a persuasive tool for pull marketing - Case studies of cosmetic and beauty brands
Neetu Singh
Department of Business Administration, Technical Education and Research Institute, P.G College, Ghazipur, Gautam Buddh Technical University, Lucknow Uttar Pradesh, India Email: neetu07singh@gmail.com Marketing that focuses on helping brands and organisation to be more easily discovered, is the next wave of marketing. Now a days customers are more towards trusting the result of their own pull searches. Pull marketing means that customer get exactly the information they are seeking to find, at the exact time they are looking for it, and they no longer feel, pushed towards a sale. Internet offers new ways to connect with customer. Traditionally, consumer used the internet to simply expend content: they read it, they watched it and, they used it to buy products and services. In present time consumers are utilising platform-such as content sharing sites, blogs, social networking. Social network have always existed, but now has taken new form through Internet and advent of social media. Today it is designed to persuade and motivate people to change their behaviour and attitude. In todays age consumers are researchers. They are much more discerning than they were 10 years ago. They read rating and reviews, and pay attention to the details. In such scenario it becomes essential for the marketer to utilize Pull marketing strategies to persuade brands. It requires building relationship with their consumers and brand credibility. Social media of any type would be considered pull marketing if it utilises persuasive strategies essential to increase the visibility of the brand and offer deal to people who want to see them. Keywords: Persuasive; Pull Marketing; Social Media; Social Networking

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

An exploration of androgyny in Indian women entrepreneurs


Rupavataram Sunita Ramam
Organizational Behavior and Human Resources, Symbiosis Institute of International Business (SIIB), Symbiosis International University 9SIU), G. No. 174 / 1, Rajiv Gandhi Infotech Park, Phase-1, Hinjewadi, Pune 411057, Maharashtra, India Email: sunitarupavataram@gmail.com The sign of a thriving economy of any country is the entrepreneurial performance of that country. Hence, it is important to study variables, which can impact the behaviour of entrepreneurs. Biological gender and need for inclusive development has been extensively focused on. However, more than the biological gender, it is the gender role behaviour which has been known to impact behaviour and hence performance. Androgyny refers to presence of masculine and feminine behaviours within all individuals irrespective of biological gender. Androgynous behaviour increases the flexibility and adaptability of individuals, which is imperative for entrepreneurs. This study attempts to understand the gender - role orientation of 51 Indian women entrepreneurs who have fulfilled stringent performance criteria to qualify for participation in an entrepreneurial development program. The instrument used for measuring the gender role orientation of these participants is Bems sex role inventory (BSRI). 39% of the participants had an androgynous gender- role orientation in this study. It was found that number of years of entrepreneurial experience, type of business, external cultural influences and stage of entrepreneurial venture, all have a role in the evolution of androgyny. The implications of these findings on entrepreneurship behaviour are discussed from an Indian context. Keywords: androgyny; entrepreneurship; feminine; masculine

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Healing HRM through positive psychology: An outlook


Happy Paul* and Pooja Garg
Department of Humanities and Social Sciences, Indian Institute of Technology (IIT) Roorkee, Roorkee - 247667, Uttarakhand, India Email: hpaul85@gmail.com The aim of this paper is first, to review and understand major modern HRM challenges in India, secondly, to argue that the underlying ailment is the way organizations and employees respond to these challenges, and lastly to discuss how positive psychology can play a healing role. The paper describes how major issues faced by HRM can be addressed by adopting the tenets of positive psychology to align HR with the changes that are happening in the workplace and the economy. Further, it is explained that resilience, subjective well-being, hope and optimism would be able to demonstrate as a utilitarian capacity to accommodate emerging trends. The paper suggests a fundamental rethink to HRM issues and offers application of positive psychology as a feasible solution. This paper could be useful to design HR policies and interventions in a more thoughtful manner. It is revealed that positive psychology has the potential to make a difference and thus, more empirical research is suggested. Keywords: Hope; HRM; India; Optimism; Positive Psychology; Resilience; Subjective Well-being.

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

The work life balance among working couples in Pune Suburb


Jyoti Gaikwad* and Manasi Javadekar
Smt Hiraben Nanavati Institute of Management and Research for Women, Cummins College Campus, Pune 411052, India Email: jyoti4mit@rediffmail, bhavemanasi@gmail.com Work demands are increasingly encroaching on family and personal time. With increasing participation of women in workplace the participation of working mothers and dual earners couples have increased .Conflict between work life and personal life aggravated due to work culture becoming popular due to rise of service sector industry, technological complexities at workplace, aging population and loss of social support network .Most traditional metropolis in India is seeing a sea change in its values and beliefs. The work life balance is most discussed but yet difficult to be executed as the roles and challenges keep changing with the changing times. The Pune city is currently booming with employment opportunities mostly in the service sectors, more particularly in the IT and BPO sector, offering jobs equally to men and women. The paper focuses on social and personal aspects of work life balance among the working couples in Pune suburb. The lifestyle that working couple follow the reasons behind the imbalance and the steps taken to maintain the work life balance. The detailed analysis of variable in individual and collectively with both male and female counterparts is done. Keywords: Work life balance, Time balance, Policies, Issues

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Marketers mindsets: Key to develop bottom of the pyramid markets


KumkumBharti*, Anita Sengar, Vinay Sharma and Rajat Agrawal
Department of Management Studies, Indian Institute of Technology, Roorkee, Uttarakhand 247667, India Email: kumkumbharti.iitr@gmail.com, anita.sengar@gmail.com, vinnu871@gmail.com, rajatfdm@iitr.ernet.in Introduction Marketers have a big role to play in the development and bringing advancement at the Bottom of the Pyramid markets by spreading awareness about meaningful consumption or need based consumption, preferential and purposeful spending on the utility products & services and promoting the village based communities in production and production related activities. Market development for rural and bottom of the pyramid markets is also required for sustenance and growth. In this humongous task, the change in mindset of the marketers, policy and decision makers are collectively foreseen to bring changes in the ideology and perception of the change makers. This paper proposes for the importance of change in mindset of the marketers ready to enter into the emerging markets with the pursuit of developing and serving the market. Methodology Research methodology used in the paper is exploratory research design that includes an exhaustive study of the literature available. To identify how the mindset of the markets has been traced from the sociology, psychology and other interdisciplinary literature. Results The paper foresees the emergence of understanding through confluence of thoughts of the authors and the other participants of the conference a structured frame of research to emerge on the issue proposed, which may give direction to strong empirical researches. Discussion and Conclusion Influential marketers can be the change agents to develop Bottom of the Pyramid markets primarily in emerging economies. The benefits of change in the mindset of the marketers will be percolated to the entire Bottom of the Pyramid community and will result into long term sustenance of business and community that will eventually leads to sustainability and overall development of the Bottom of the Pyramid, the largest market of the world. Keywords: Bottom of the Pyramid, Emerging Economies, Market Development, Mindset of Marketers.

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Developing ordering policy based on multiple inventory classification schemes


Manisha Ketkar 1* and Omkarprasad Vaidya 2
1*Symbiosis

Institute of International Business (SIIB), Hinjewadi, Pune 411057, India Email: manisha11.ketkar@gmail.com; manisha.ketkar@rediffmail.com, 2 Indian Institute of Management (IIM) Raipur, GEC campus, Sejbahar, Old Dhamteri Road, Raipur 492105, India Email: vomkarin@yahoo.co.in Various inventory related decisions, are made in industry, specifically, in the manufacturing sector. One of the most critical and crucial decisions is development of ordering policies. Usually the ordering policy decisions are made based on a classification scheme (like ABC). The paper attempts to look at the problems of inventory control, specifically the ordering policy from a broader perspective for input materials like raw / packing materials and/or components. Here we consider multiple classification schemes in order to enable the decision maker make a conscious and holistic decision. These schemes are assigned proper weights, considering the organizational vision and mission. The proposed approach is formulated in its simplest form by using a multi criteria decision making technique called SAW (Simple Additive Weighting) method. In this paper we explain the developed methodology along with an illustration. We propose the approach or methodology with no specific industry in mind, and hope this will help practicing manager, working in any business vertical. Keywords: Inventory classification; Inventory control and ordering policies; Multi criteria decision making technique (MCDM); SAW

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Selecting alternatives for improvement in supply chain performance


MohitTyagi*, Pradeep Kumar and Dinesh Kumar
Mechanical and Industrial Engineering Department, Indian Institute of Technology (IIT), Roorkee, Uttrakhand, India- 247667 Email: mohitmied@gmail.com, kumarfme@iitr.ernet.in, dinesfme@iitr.ernet.in The paper presents an approach to evaluate the performance of various alternatives used for the supply chain systems. A model based on AHP has been formulated and three mutually exclusive alternatives namely (Suppliers, Investment in advanced technologies, and Investment in information communication technologies) are considered in the performance evaluation. Critical analysis of the entire three alternatives with role and effect has been discussed. The finding suggests that of the above three alternatives suppliers can play a very important role in improving performance of the supply chain. Keywords: Analytical Hierarchy Process (AHP), Performance Measurement, Role of Suppliers, Supply Chain Management (SCM).

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

An evaluation of human resource accounting disclosure practices in Indian companies


Nidhi Sharma and Hitendra Shukla
Department of Accountancy and Law, Faculty of Commerce, Dayalbagh Educational Institute (Deemed University), Dayalbagh, Agra 282110, India Email: Drnidhisharmadei@gmail.com, Shukla.Hitendra@gmail.com Human Resource Accounting is the process of measuring reporting the human resource of an organization. HRA is a management tool which is designed to assist of human resource senior management in understanding the term cost and benefit implication of their HR decision. So that better business decision can be taken by them. The basic objective underlying human resource accounting is to facilitate the effective and efficient management. The study has been conducted with the objective to find out the disclosure practices of HRA in selected private and public limited companies. For this, the researcher has been taken four Indian companies, viz.; two public sector companies and two private sector companies. For analysis purpose, the study has used content analysis for disclosure practices of HRA by using different methods. The result of the study shows that public sector is following better HRA disclosure practices than private sector. Keywords: Human Resource Accounting (HRA), Human Resource Accounting Disclosure

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Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

A study on Gen Y and its effect on markets and brands


Payal Chhabra* and Deep Vakharia
Mumbai Educational Trust Bhujbal Knowledge City, Affiliated to Pune University, Mumbai, India Email: payalrchhabra@gmail.com, reachformore@gmail.com The opening of Indian markets to foreign investments will result into mount of new trends in the markets resulting into turning round of money, Indian youth is target market for the companies to market their products as the youth today is a part of decision making as well as the trend of earn while learn is emergent in India, the average age when the youth enters workforce as full time employee is 22-24 taking all this in to consideration its apparent that companies will have to get in this youth wallets so they need to customize, advertise & target them. The research paper will highlight the trends in youth & their spending habits, their likes & dislikes suggesting a way forward to target this potential market. Keywords: Emerging Youth; Gen Y; Marketing Trends; Workforce 2012; Youth Economy

20

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Study of consumer buying behavior of cars with special reference to small segment cars
Prachi Jain and Rajni Sinha
Amity College of Commerce and Finance, Amity University, Sector 125, Noida Email: pjain@amity.edu, rsinha@amity.edu Introduction In todays world, customer is considered to be the king of the market. To sell any product, there is a need to build a relationship with customer. For building a relationship, there is a need to know the consumer behavior and how will they be satisfied. Consumer behavior is the study of how individuals, groups, and organizations select, buy, use and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. Marketers must fully understand both the theory and reality of consumer behavior. This research is undertaken to know the consumer behavior and the factors affecting the consumer behavior while making a purchase decision with regard to a car. There are many factors that stimulate and motivate a consumers decision like cultural (culture and subculture), social (reference groups, family, roles and status) and personal (age and stage in the life cycle, occupation and economic circumstances, personality and self-concept, lifestyle and values,) factors. It may not be possible to analyze each individual customer in depth with a view of identifying what makes them choose a particular brand and a particular segment of cars. Thus a marketer needs to know which one is the foremost factor so as to identify the most appropriate marketing strategy in an effort to target buying characteristics of consumers and thus ultimately retain the existing customers and attract the new ones. Methodology The study seeks to find out the consumers attitude towards buying of cars. Type of Research -The study undertaken is a Descriptive Research. Nature of Research -The study is quantitative in nature. It has been conducted through structured, standardized questionnaire. Results In current market scenario, respondents give maximum weightage to personal factors, then after that they consider cultural and social factors respectively. Successful marketing requires that companies fully connect with their customers. Adopting a holistic marketing orientation means understanding customers gaining a 360 degree view of both their daily lives and the changes that occur during their lifetime so that the right products are marketed to the right customers in the right way. Conclusion Marketers in the car segment must take steps to redesign, reposition and reprice their products and should continue to offer value to target customers. Keywords: 360 degree view, consumer behavior , questionnaire

21

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

A two period sequential unreliable newsboy problem


Divya Tiwari 1, Rahul Patil 2* and Janat Shah 3
1FPM,

IIM Bangalore, Bangalore 560076, India IIT Bombay, Mumbai 400076, India 3IIM Udaipur, Udaipur, India
2SJMSOM,

In the unreliable newsboy problem, firms sometimes split their orders among multiple suppliers to manage supply risks. In this paper, we discuss how ordering time can be used to build supply chain flexibility to mitigate the supply risks of an unreliable newsboy. We consider a situation where a firm has an option of placing two sequential orders such that a new order is placed only after the yield from the previous order is known. An optimal order quantity for each ordering stage is derived by assuming a Bernoulli supply yield distribution. Managers can easily implement these closed form solutions in a computer to decide the order quantities. Our computational results suggest that the sequential ordering policy performs better than a simultaneous ordering strategy as it offers additional flexibility while placing the order.

22

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Organizational climate, climate strength and work engagement


Richa Chaudhary*, Santosh Rangnekar and Mukesh Kumar Barua
Department of Management Studies, Indian Institute of Technology Roorkee, Uttarakhand, India Email: richa.chaudhary18@gmail.com, rich.biet@gmail.com The objective of this study was to explore the role of human resource development climate quality and climate strength in determining work engagement at organizational level of analysis. Climate strength was examined for its linear, curvilinear and interactive effects on aggregate level work engagement.Data were collected from a total of 375 employees from 28 business organizations in India. Hierarchical regression analysis was used to examine the dynamics of relationship among study variables.Climate quality was found to relate significantly with work engagement. However, climate strength did not show any significant linear effects on work engagement after controlling for climate quality. Further, climate strength failed to show any curvilinear effects on climate qualitywork engagement relationship. Interestingly, climate strength for one climate dimensions displayed significant moderation effects on climate quality-work engagement relationship. In addition to designing the customized interventions aimed at improving the development climate perceptions of each employee, providing opportunities for collaboration with people having more positive perceptions of development climate in the organization is likely to shower significant benefits for organizations in terms of engaged workforce. Keywords: Climate quality; Climate strength; Curvilinear effects; Moderation; Work engagement

23

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Emerging issues and challenges for HRM in public sectors banks of India
Shalini Shukla*
Research Scholar (JRF), Department of Business Administration (LUMBA), University of Lucknow, Lucknow, India Email- shuklashalini@ymail.com The Indian economy is one of the fastest growing economies in the world irrespective of non-conducive economics headwinds blowing globally. Indian Financial sector has undergone a rapid transformation since its inception. The competitive and deregulatory forces have brought about a perceptible shift in the customers expectation. HR poses the biggest challenge to the public sector banks in country India. Changes in technology, customer preferences, regulatory framework etc causes the need of radical shift in the HRM. This study is focused on the issue of major challenges faced by HR manager in Public Sectors Banks in India to cope with the environmental changes for competitiveness. Keywords: HRM; HR Challenges; Public Sector Banks

24

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Game on: A study of the phenomena of gamification and an empirical study of its impact on the youth in Manipal: Gamification and its impact on marketing and HR
Unnikrishnan Nair*, Vipin Vinod and Venkata Someswara Rao D.
T A Pai Management Institute, Manipal, Karnataka-576104, India Email: unnikrishnan.13@tapmi.edu.in, vipin.13@tapmi.edu.in, venkata.13@tapmi.edu.in The study reviews the literature for the phenomenon gamification, unravelling what constitutes gamification and how different it is from games. Moving ahead, we try to find the researched impact of gamification, which has been the major reason for gamification being touted as the next wave of engagement platform for consumers and employees alike. Reasons include accelerated feedback cycles, clear goals and rules of play, a compelling narrative, and challenging yet achievable goals. Further on, it demystifies the game mechanics Points, Levels, Challenges, Virtual Groups, Leadership Boards, Gifting and Charity which forms the basis for a gamified environment. Elements of its impact include on Key Performance Indicators, User Retention, Branding, Loyalty and Motivation is measured both through secondary research and re-emphasized through an empirical study on a youth sample (age 15-35 years) in Manipal, a cosmopolitan town in coastal Karnataka. Though boredom and relaxation still takes the cake for people using games, the aspects of challenge and experience is also having a good share in making people turn to games. Smart devices are also a small but significant reason. The entertainment sector demands gamification, followed by health and sports, information and news and education indicating the misnomer that play and work doesnt go together is still a widely held belief in the age group. However, there is a significant percentage of the youth which believe that games have helped them in better concentration and performance a very good basis for organizations to pursue gamification further in work and other environments. Keywords: Branding; Engagement; Gamification; Loyalty; Motivation

25

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Theoretical remodeling of influence of children on family purchase decision making


Adya Sharma and Vandana Sonwaney
Symbiosis Institute of international Business (SIIB), Symbiosis Internation University (SIU), Pune, India Symbiosis Institute of Operations Management (SIOM), Nashik, India Email: adya.sharma@siib.ac.in, adyaindia@gmail.com It was not long ago that children were not considered an important segment. Understanding the child as a consumer was limited to understanding the consumer socialization of children. However changing social and economic conditions have also changed the role of children as consumers. They have been viewed as three markets in one: current market, future market and a market of influential that cause many millions of dollars of purchase among their parents. ( Mc Neal , 1987). Childrens influence in family consumption decisions is an important topic for research, for the researcher, marketer and policy makers. Avenues for this research have been defined in the West though in a limited manner. However research on the topic in India is very limited. McKinsey (2007) has forecasted that India will be the 5th largest consumer market by 2025. Spencer Stuart (2008) has identified kids, youth and urban Indian women as three emerging segments. Unlike the west, India has a young population with children under 15 years of age constituting 30% of our population (Census 2010) With the number of females increasing in employment (Chandrashekhar and Ghosh, 2007) the mothers are spending less time at home and with children. This has increased the role of children in decision making. Cultural and technological changes have changed the equation between parents and children. Children have so much power in the family that their families are becoming child led (Cowell, 2001) the influence of children on family purchase decisions is an unexplored topic in Indian context and demands research and attention. This study intends to investigate how the urban child influences the purchase decision making of the family and its relation to family demographics and family communication. A conceptual model is outlined. The model integrates these two different areas of research to develop a conceptual model to explore the relation of influence of children with respect to different factors. Ward (1974) asserts that socialization is a lifelong process and hence this model also proposes parents re-socialization with children as one of their socialization agents. The paper identifies propositions for future research with the limitations and future scope of research Keywords: Influence of children, India, Consumer socialization, Family re-socialization

26

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Issues, challenges and strategies for management education: A comparison of BRICS nations
V.K. Nangia, Vinay Sharma and Ritika Mahajan*
Department of Management Studies, Indian Institute of Technology (IIT) Roorkee, Uttarakhand 247667, India Email: vinaynangia@gmail.com, vinnu871@gmail.com, ritika6mahajan@yahoo.com Introduction One of the biggest challenges for businesses operating in the dynamic environment of today is the need of competent managers. Management education has played a pivotal role in developing these managers, who have shaped up organizations and businesses around the world. An important and a responsible thought associated with management education is its own management. The purpose and value of MBA (Master of Business Administration) degree has always been under the critics scanner (Pfeffer and Fong, 2002, 2004; Ghoshal, 2006, Khurana, 2007) but proliferation of institutes, driven by forces of globalization and liberalization, has risen serious questions on quality in education (Jagadeesh, 2000; Mintzberg, 2004). Therefore, it would be fruitful to investigate the quality of contemporary business education and its implications, especially for emerging economies like Brazil, Russia, India, China and South Africa (BRICS) which drive the growth engine of the world economy. Framework The paper will describe the changing Global and emerging market scenario, relevance and significance of management development for emerging economies, a comparative analysis of issues and challenges related to structure, policy, growth, design and delivery of management education in the BRICS nations and strategies to improve with emphasis on faculty retention, faculty development, functional literacy and academic excellence. Methodology The paper will be based on review of literature of BRICS nations and observations of the contemporary scenario substantiated by semi-structured, open ended interviews of a judgmental sample of experts from industry and academia. Conclusion The paper, on the whole, will document and analyze management education system in select emerging economies in the backdrop of its role and significance in these countries. Keywords: BRICS, Emerging economies, Management Education References: Jagadeesh, R. (2000), Assuring quality in management education: the Indian context, Quality Assurance in Education, Vol. 8 No. 3, 110 119. Khurana, R. (2007), From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession, Princeton University Press, Princeton. Mintzberg, H. (2004), Managers not MBAs, Barrett-Koehler, San Francisco. Pfeffer, J. and Fong, C. T. (2004), The business school business: Some lessons from the US experience, Journal of Management Studies, Vol. No.8, pp. 1501-1520. Pfeffer, J. And Fong, C.T. (2002), The End of Business Schools? Less Success Than Meets the Eye, Academy of Management Learning & Education, Vol. 1 No.1, pp.78-95. Ghoshal, S. (2005), Bad Management Theories are Destroying Good Management Practices, Academy of Management Learning and Education, Vol. 4 No. 1, pp. 7591.

27

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

The Corporate Social Responsibility conundrum: A definitional perspective


V.K. Nangia, Vinay Sharma, Ritika Mahajan* and Vaibhav Aggarwal
Department of Management Studies, Indian Institute of Technology (IIT) Roorkee, Uttarakhand 247667, India The concept of corporate social responsibility is an evolving one and is here to stay. This paper attempts to understand corporate social responsibility in a conceptual perspective by tracing the evolution of the concept and examining different facets associated with it- economic, legal, ethical and philanthropic, as proposed by Carroll in the pyramid of corporate social responsibility. The conclusion drawn is that CSR is the commitment of the business to abide by the law and to operate in an ethical manner when it has the opportunity to do otherwise, with or without philanthropy. It is absurd to expect the business to compromise with profits. An ideal win- win situation would be if the business could find ways to indulge in strategic CSR and benefit both itself as well as the underprivileged sections of the society. The new wave is of integrating CSR into the core business, of viewing it as an opportunity and not as a burden. CSR cannot be imposed. It has to be embedded in the very DNA of the organization as exemplified by The Tata Group in our country. Keywords: Corporate social responsibility, CSR pyramid, Evolution, Strategic CSR

28

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Customer experience management: An exploratory study on the parameters affecting customer experience for cellular mobile services of a telecom company
Sujata Joshi
Symbiosis Institute of Telecom Management (SITM), Symbiosis International University (SIU), Symbiosis Knowledge Village, Near Lupin Research Laboratory, Village Lavale, Pune 411042, India Email: sjoshi@sitm.ac.in The cellular mobile industry in India is undergoing rapid changes as a result of globalization and liberalization. It has now become the world's most competitive market as well as one of the fastest growing telecom markets in the world. Customer retention is one of the most important challenges faced by telecom companies today. According to Gartner, Indian cellular operators face the highest churn rates compared to their counterparts in Asia pacific Region .The monthly churn rates for India range from 3.5 per cent to 6 per cent. Thus, it is essential to develop effective methods to retain the existing customers for any telecom operator which includes two major steps. One is identifying the revenue earning customer and second is managing the customer experience and customer value for the revenue earning customers. Customer experience is defined as the sum of all experiences that a customer has at every touch-point of the customer-company relationship. It is an intentional effort on the part of the company to develop and maintain good experience which is differentiated from the competition, consistent at every touch point and most importantly valued by the customer. Methodology This exploratory study aims at understanding the parameters that affect customer experience for cellular mobile services. .Exploratory interviews were conducted on 536 customers using cellular mobile services. Factor analysis was conducted to find out the factors which affect customer experience for the cellular services offered by telecom companies. Based on the studys results implications for the cellular mobile service operators are offered. Key findings The research indicated five factors which affect customer experience out of which excellent customer care service and service delivery as promise come out as the major factors that affect customer experience. Keywords: Consumer Behavior, Customer experience management, Customer retention, Marketing , Strategy.

29

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Indian renaissance in 21st century: Management education, thoughts and practices for betterment of business, nation and society
Shubhasheesh Bhattacharya1* and Sonali Bhattacharya 2
1Symbiosis

Institute of International Business (SIIB), Symbiosis International University (SIU), Phase-I, Hinjewadi, Phase-I, Pune- 411057, India 2Symbiosis Centre for Management and Human Resource Development (SCMHRD), Symbiosis International University (SIU), Plot 15, Phase-I, Hinjewadi, Pune 411057, India Phone: 91-020-22934304/05 Extn 332 Email: shubhasheesh.bhattacharya@siib.ac.in, sonali_bhattacharya@scmhrd.edu The paper talks about the glorious past of the Indian ethos, management thoughts and practices, the current situation in India and the suggested roadmap for future to regain the past glory. Governance of the country is influenced and affected by the political, social, environmental factors and Youth Activism; which suggests that there is a strong link between the values of the people, their actions and the quality of governance. Quality of Governance of the country is the indicator of the maturity and well-being of the society. A new conceptual model has been suggested showing the linkage between youth activism and quality of governance, determining the health of the society. The model is prepared based on evidences from India. The focus of the paper is the need to impart quality management education embedded with universal values, for betterment of business, nation and society. Key Words: Indian ethos; universal values; youth activism; governance; society

30

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

A strategic resource management model: Case study to benchmark the performance of two generalized retailers in India viz. Shoppers Stop Ltd. and Trent Ltd.
Aradhana Gandhi 1* and Ravi Shankar 2
1Symbiosis 2Department

Centre for Management and Human Resource Development (SCMHRD), Pune, India of Management Studies, I.I.T. Delhi, New Delhi, India

The paper aims to use strategic resource management model, a framework for evaluating the performance of two generalized retailers in India that is Shoppers Stop Ltd. and Trent Ltd. This framework is of immense help in benchmarking, planning and executing alternative inventory, space and people strategies. And therefore, the paper throws insights in terms of strategies to improve these two retailers performance. In the second part of the study, the Indian retailers Shoppers stop and Trent are benchmarked with the number one retailer in the world Wal-Mart using the Strategic Resource Management Model. This study helps to understand the areas where the two Indian retailers can work on to improve their performance.

31

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Competitive advantage for SMEs through green business strategies


Gurudas Nulkar
Symbiosis Centre for Management & Human Resource Development (SCMHRD), Symbiosis International University (SIU), Plot no. 15, Rajiv Gandhi Infotech Park, Phase -1, Hinjewadi, Pune 411 056, India Email: gurudas_nulkar@scmhrd.edu SMEs have always been the prime movers of Indian industry. Their presence has helped bring in FDI in many sectors. The SME sector itself is a large employer for India. While the term sustainability and green have of late gained priority with large firms, SMEs have not yet been motivated to take up improvements in environmental performances. Our media and society in general is quick to respond when a large firm causes any environmental violation. Unfortunately, SMEs do not have this watchdog to deal with. The sheer number of SMEs makes it difficult to enforce regulations for authorities. There is much research on environmental performance of large firms, their motivations to do so and the advantages that they can hope to gain from this. This article discusses whether green business strategies could be a source of competitive advantage for SMEs and if so, how could SMEs approach the sustainability initiatives. Keywords: Green business, Green strategy, Competitive advantage, SME, Sustainability, Ecoadvantage

32

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Management Issues

Role of media in increasing materialism among children


Vandana and Usha Lenka
Department of Management Studies, Indian Institute of Technology (IIT) Roorkee 247667, India Introduction Society trends are changing and leading to certain demographic alteration. Families are modified from extended to nuclear ones and consumer socialization of children is shifted from parents to media due to the existence of dual career families. Parents compensate their time by exposing their children to media as and when they wish. Exposure to media is making children susceptible towards external environment, because of which they become the victims of the materialistic world (Achenreiner, 1997). They have linked their happiness with the material goods for happy living. This materialistic attitude of children is directing them towards excessive consumption and impulsive buying. Marketers promote their products by correlating happiness with material goods, knowing the fact that children get fascinated by attractive things easily. Objective This paper investigates the role of media in emergence of materialism among children by growing age. Focusing on the key aspects of materialism, current investigation will try to specify the consequences of materialism on children. Methodology The literature is extensively reviewed for finding the role of media in generating materialism in childrens lives and how this rising materialism is impacting children. Results Children are exposed to media to a large extent, making children vulnerable target of consumerism which is hampering their cognitive and social development (Buijzen, and Valkenburg, 2003). They feel attracted towards materialistic things due to the media exposure, as a result of which they push their parents to buy fascinated things promoted by marketers. All these are supporting the development of materialistic attitude in children. Consequences of materialism on children are shown in form of dissatisfied and less confident children, dependent on external environment (Achenreiner, 1997). Conclusion Changing work culture and busy schedule of parents has changed the process of child socialization from parents to media. Parents compensate their time with materialistic things. As a result, children became susceptible towards materialistic world, a consequence of raising consumerism. Children have already been started connecting their happiness with materialistic things. Consumerism gives boost to materialism which is harmful for the development of child cognitively. Suffieciaet attention have to given by parents to distract their attention from media to real world. Keywords: Consumer socialization, Materialism, Media exposure References Achenreiner, G. B. (1997). Materialistic values and susceptibility to influence in children. In M. Brooks, & D. J. MacInnis (Eds.), Advances in Consumer Research, 24, 8288. Provo, UT: Association for Consumer Research. Buijzen, M., & Valkenburg, P. M. (2003). The effects of television advertising on materialism, parentchild conflict and unhappiness: A review of research. Journal of Applied Developmental Psychology, 24, 437456. DSilva, Margaret U., Allan Futrell, Guadalupe Victorica Reyes, 2007, Childrens Consumer Behavior in the Age of Globalization: Examples from India and Mexico, Intercultural Communication Studies XVI: 2.

33

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013

Track 2: Markets
The twin forces of liberalization and globalization have transformed the global markets in the last two decades. Envisioning the rise of the global markets amidst the challenges and adversities that surrounded them, and emphasizing the importance of a good understanding of these markets, this track is a great start to an intellectual exchange of ideas on the various markets viz. financial markets, consumer market, retail markets, Industrial markets, external trade, commodity markets, foreign exchange markets, etc. In the last ten years, we witness the emerging markets as players in re-shaping the global competitive landscape. Their strong export economies and high productivity gains have led to burgeoning savings and accumulation of foreign reserves. Some emerging economies have turned into a net creditor nation relative to the mature economies.

34

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Markets

Examining efficiency and effectiveness of Indian Banks: Two stage network data envelopment analysis approach
Dipasha Sharma, Anil K Sharma and Mukesh K Barua
Department of Management Studies, Indian Institute of Technology (IIT) Roorkee, Roorkee - 247667, India. Email: dips2ddm@iitr.ernet.in, dipashasharma20@gmail.com,anilfdm@ iitr.ernet.in, baruafdm@iitr.ernet.in Introduction Any organization is said to be well performed within its peer group when the efficient use of resources to produce output meets effective channelization of output in term of true economic wealth or income creation. With this, our objective of study is to examine the performance of Indian banks with the evaluation of their efficiency to produce maximum output using given level of resources and further to check the effectiveness of their efficient production of output to generate true market or economic wealth for stakeholders. Methodology First to examine the efficiency we have set of inputs and outputs defined as per intermediation approach of banking, secondly to check effectiveness of outputs produced in an efficient manner will serve as inputs and economic wealth and market wealth will be final output at this stage. Finally we will evaluate the true performance of Indian banks linking efficiency and effectiveness using inputs of efficiency stage as resources; outputs of efficiency stage as intermediary and market value and shareholder wealth representing effectiveness as final output. We will follow two stage networks Data Envelopment Analysis (DEA) approach in our study. Total deposits, Interest expenses and non-interest expenses will be treated as inputs, interest income, noninterest income and loans as intermediary whereas market value added (MVA), Economic Value Added(EVA) and annual market return will be our final outputs. We will have only listed Indian banks for the period 2002-03 to 2011-12 as we are considering market return to reflect performance of banking units. Results Our results will translate a new performance measure derived from linkage of efficiency and effectiveness of Indian banks. This will serve as a guideline to managers to evaluate performance of banking units and further will help policymakers for banking reforms but most importantly it will be helpful to investors and guide for value and wealth creation of invested capital. Keywords: Efficiency, Effectiveness, Indian banks, Two stage network Data Envelopment Analysis

35

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Markets

Evaluation of currency futures market and its impact on the market volatility in India
Meenal Annachhatre
Symbiosis School of Economics (SSE), Symbiosis International University (SIU), Pune - 411004, Maharashtra, India Email: meenal.annachhatre@sse.ac.in Introduction Currency Futures means a standardized foreign exchange derivative contract traded on a recognized stock exchange to buy or sell one currency against another on a specified future date, at a price specified on the date of contract, but does not include a forward contract. Currency Futures market means the market in which currency futures are traded. Currency futures, as a financial derivative were first created at the Chicago Mercantile Exchange (CME) in 1972. In India, NSE was the first stock exchange, permitted by the SEBI, to set up its separate currency derivatives segment. Standardized currency futures trading started on 28th August, 2008 in NSE Similarly, the BSE and MCX started trading the currency futures from 1st and 7th October, 2008 respectively. The main objective of currency derivatives is to hedge the currency risk and introduction of currency futures in Indian foreign exchange market has given a wider option to the corporate to safeguard their currency exposure. There are few countries namely Mexico, Brazil, South Korea, India who have introduced currency futures without having achieved the fuller capital account convertibility. In fact IMF, IFC have recommended the exchange listed derivatives to these countries to promote macro-economic stability and to facilitate risk control for financial intermediaries and economic entities. After introducing the exchange traded currency futures, many markets claim the reduction in the volatility of the foreign exchange market significantly. Objective The main objective of this research paper is to understand and analyze the growth trajectory and evaluation of the currency futures market in India and the participation of currency futures in the volatility of the trading system. It also focuses on the change in the regulatory authority of one of the hedging tool of the foreign exchange market in India as compare to the central banks (RBI in case of India) traditional and world -wide accepted role of the regulatory body for the foreign exchange market transactions. Methodology The main theme of this paper is to study and analyze the evolution and growth path of the currency futures in India and the change in the volatile nature of the Indian foreign exchange market thereby. The plan and structure of the investigations undertaken is of exploratory in nature, to seek an answer to the research problem. With the exploration method, the researcher would be in a better position to identify the research problem more clearly through data analysis. It would also enable to study and established relationships between independent as well as dependent variables affecting currency movements. For exploration to be more scientific and meaningful the researcher has collected primary data through structured questionnaire and unstructured interviews. The secondary data is obtained mainly from various published sources like APDIR circulars of RBI and various currency and finance reports brought out by the RBI, Periodicals, Journals, the Nifty site etc. Results 1. Very positive response to the introduction of currency futures by Indian corporate. 2. Analyzed data supports to the increase in the volatility of the spot market after introducing the currency futures. 3. The exchanges are self-regulated entities almost all over the world. In India, the Securities regulator and the central bank jointly regulate and supervise the exchange barring few issues. 36

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Conclusion Statistical data and literature reviewed for this paper supports that the introduction of the currency futures in the Indian foreign exchange market has happened at the right time despite having the capital controls. This will help to achieve the required depth and liquidity of the foreign exchange market. Statistical data reveals that this introduction of currency futures is contributing to the higher volatility of the spot market Keywords: Currency futures, Foreign exchange market, Regulation, Volatility

37

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Markets

Appraising energy efficiency projects


Rahul E Ravindranathan, Medha Joshi, Atik Sheikh Matin and Darshan Joshi
Symbiosis Institute of International Business (SIIB), Symbiosis International University (SIU), Rajiv Gandhi Infotech Park, G. No. 174/1, Phase-1, Hinjewadi, Pune - 411057, India Email: rrav2005@yahoo.com, medha.joshi@siib.ac.in, atiksheikh16@yahoo.com, darshanj19@gmail.com Currently, India is facing an energy crisis and lots of efforts are being put in order to reduce this widening gap between energy demand and supply. One of the most cost effective ways of reducing this gap is by implementing Energy Efficiency (EE) projects. These projects have a very high potential in India as it is estimated that it can generate energy savings worth $730 million per year. But, this is not being utilised properly due to various barriers. One of the major problems is financing of these EE projects. Most financial institutions are not familiar with the aspects of EE projects. Also, weak credit strength of Energy Service Company (ESCOs) and perceived lack of collateral or guarantees also hinder the implementation of such projects. Added to this, financial institutions lack the appraisal capacities required for these projects. In this paper, appraising of EE projects shall be discussed and would highlight the benefits of financing EE projects. Also, the paper shall discuss certain schemes and policies that could be implemented in order to make these projects more attractive to the Financial Institutions. Five Basic methods of appraisal i.e. promoter appraisal, technical appraisal, financial appraisal, environmental appraisal and legal appraisal are necessary when it comes to EE projects. Besides this, different perspectives of different stakeholders like Promoters, Lenders, Government, ESCOs, etc. are observed and understood in this paper. Keywords: energy efficiency, ESCO, methods of appraisal, stakeholders

38

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Markets

Efficiency of Indian drug and pharmaceutical industry using data envelopment analysis
Varun Mahajan*, D.K. Nauriyal and S.P. Singh
Department of Humanities and Social Sciences, Indian Institute of Technology (IIT) Roorkee, Roorkee -247667, Uttarakhand, India Email: mahajan.varun85@gmail.com, singh2006_hss@yahoo.co.in, dk_nauriyal@yahoo.com The industry today is in the front rank of Indias science-based industries with wide ranging capabilities in the complex field of drug manufacture and technology. The scenario for the pharmaceutical sector has changed significantly after Product Patent Act, 2005. In this context, it would be interesting to study efficiencies of each Indian pharmaceutical firm especially after signing of TRIPS. This paper attempts to measure technical efficiencies of Indian pharmaceutical firms for the year 2010-11 through Data Envelopment Analysis (DEA) technique, using salaries & wages, raw material cost, energy input and capital as input variables and total output as output variable. The data have been taken from CMIE Prowess database. The DEA models can generally take two forms viz., input-oriented and output-oriented. Output-oriented model was applied. It is observed that the output variable has statistically significant correlation with the inputs. Standard CCR and BCC models have been applied to measure OTE, PTE and SE for the individual pharmaceutical firms. The study suggests that, on an average, pharmaceutical firms have the scope for increasing their output by 1/4th without any change in inputs. The study also analyzed the slacks which were found to be significant in output. The sample has also been subdivided into the firms with high and low export intensity it can be observed that highly export-intensive firms were more efficient than low export-intensive firms. Both OTE and PTE scores of such firms were higher than other firms. The most plausible reason for this could be that the firms having higher stakes in the export than the domestic market may have the compulsion and resources for adopting better processes, production technologies and good manufacturing practices due to their obligations to meet FDA and similar kinds of approvals required for exporting pharma products to overseas markets. The study also suggests that foreign firms were better performers than the Indian firms. Private foreign firms appeared to be the most efficient due to their business in branded drugs which have greater margin than generic drugs. Keywords: Efficiency, Export-intensity, Ownership, Pharmaceutical, Slack

39

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013

Track 3: Trade
The impact of international trade flows on a nations economy, polity and society are greater today than ever before. The last three decades have witnessed an enormous increase in the degree of integration in the world economy that has deeply penetrated the economic, political and social framework of countries. The implications of greater trade liberalization and increasing cross-border capital flows between countries is felt across a range of actors in the international political economy ranging from industry, farmers, consumers, small scale businesses and non-governmental organizations. Regional trade agreements (RTAs) today cover half of international trade, alongside the multilateral agreements under the WTO (World Trade Organization), encompassing a wide range of areas including investment, intellectual property rights, agriculture, and services. The deep integration of countries in the global trading system also means that trade shocks could have a disproportionately negative impact, particularly on developing economies. The impasse in the WTO Doha talks, economic and financial crisis of 2008, or events such as the interruption of oil supplies from Libya or the Japanese earthquake and tsunami can all hit the exports of developing countries particularly hard. Currently, analysts predict a slowdown in world trade due to various shocks including the European sovereign debt crisis. The trade track welcomes papers that focus on socio-economic and political issues concerning the composition and direction of trade and shifting patterns of trade on countries. We invite papers that address, from a variety of theoretical and empirical perspectives, the relationship between trade and development in terms economic growth, political stability and social change. In addition to quantitative research of trade patterns, protectionism and obstacles to trade, we also invite papers that focus on qualitative analysis of the socio-political dimensions of trade. In sum, we hope to engage in constructive dialogue to understand the effects of international trade on domestic policies in a multidisciplinary manner.

40

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Trade

Measuringthe competitiveness of Indian agriculture sector: A case study of cotton crop


Sachin Kumar Sharma
Centre for WTO Studies, Indian Institute of Foreign Trade (IIFT), New Delhi 110016, India Email: sksharma.jnu@gmail.com Introduction Cotton is a major source of raw material to the textile industry and a big source of employment. Cotton production in India has increased substantially after 2001-02 onwards. Production of cotton has increased 7 million bales in 1981-82 to 36 million bales in 2011-12. It was due to increase in area as well as increase in productivity of cotton after 2001-02 onwards. India consumes about 78 percent of production for domestic purpose and only 22 percent of cotton is exported to world market. Export market of cotton is dominated by USA with the share of 37.2 percent during 2007-2010. The objective of this study is to measure the competitiveness of Indian cotton through various measures under export and import hypothesis during 19902009. For this purpose, state-wise cost of cultivation data is collected from CACP reports. This study also compared cost of cultivation in various countries. Methodology To measure, the competitiveness of Indian cotton, various indicators Nominal Protection Coefficient (NPC), Effective Protection Coefficient (EPC), Effective Subsidy Coefficient (ESC) and Domestic Resource Cost (DRC) are used. NPC is defined as the ratio of domestic price to international price. Although, NPC measures the divergence between domestic and international commodity prices, it does not account for discrepancies in the prices of various tradable inputs, used in the production of these commodities. The EPC adjusts the NPC for the protection of the relevant tradable inputs. EPC though a better measure of effective incentive than the NPC still leaves non-tradable inputs out of its purview. Thus the ESC adjusts EPC for subsidies or taxes on non-traded inputs and is defined as the ratio of value added at domestic prices (adjusted for subsidies and taxes on non- traded inputs) to the value added at world references prices. The DRC may be defined as the value of domestic resources (primarily, non-traded factors of production such as land, labor and non-traded capital) needed to earn or save a unit of foreign exchange through the production of the commodity under the consideration. Result & Discussion Result shows that India is competitive in terms of cost of cultivation as the cost of production per kg lint is lowest in India. The net cost of producing one kg of lint in the USA (national average) is 4.5 to 6 times higher than India. All the indicators are less than one and therefore, cotton crop in India is competitive under export and import hypothesis. Conclusion: India is competitive in cotton production despite the fact that some of countries are giving huge subsidies to cotton sector Keywords: Export competitiveness, Trade, Cotton, Subsidies, WTO

41

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Trade

Exploring the sophistication in services export


Falguni Desai
ManibenNanavati Womens College, Vallabhbhai Road, Vile Parle(W), Mumbai 400056, India Email:f_desai@rediffmail.com The world economy has fast turned into a service economy since the 1990s. Just as the Industrial revolution marked a major turning point in history, the service revolution across the globe has changed the business and the manner in which the business is conducted. Services are now characterized by growing tradability, increasing technological sophistication and lower transport costs. Purpose of the study The purpose of the paper is to examine and compare the pattern of trade in 10 services broadly classified into traditional and modern services, and its contribution to growth over time. The paper also explores the sophistication in services export using the index of sophistication. Methodology The study covers a period from 2000 to 2010 for a sample of 38 countries comprising: Brazil, Russian Federation, India and China (BRICs), European Union (EU)-15 countries, 12-EU New Member States, 5-EU Accession countries, USA and Japan. We use the methodology developed by Hausman et al (2007) which measures the productivity level, associated with countrys export basket of goods. This methodology is applied to study sophistication in the export of services instead of export in goods. The productivity index is calculated in two steps. First, for each of services that are traded we compute the weighted average of the incomes of the countries exporting that service, where the weights are the Revealed Comparative Advantage (RCA) of each country in that service. This gives the income level of that service, called PRODY. Next the EXPY is calculated as the weighted average of the PRODY where the weights are the share of each service in that countrys total exports. The EXPY strongly correlates with the per capita income: rich countries export services which the other rich countries exports. Now, the PRODY can change over time either because the weights shift for each country (RCA) or because the income level of the exporting country rises. We therefore decompose the rise in PRODY over time to find out whether the change is caused due to change in the RCA or due to change in income. Results The marked growth in trade in services was accompanied by significant changes in the structure of services traded. The share of traditional services in total world services exports fell from 57.8% to 50.5% and that of modern services increased from 39% to 47.8%. Studying the countries with largest and smallest EXPY values in 2010, we find that Luxembourg tops the list with EXPY value of 32407 and Malta records the lowest value of EXPY- 16258. India has a very large EXPY value: 25544, relative to its per capita income, which implies that the sophistication in the services exported by India is comparable to those of high income countries. The decomposition of PRODY shows that the income term changes outweighs the RCA term change component. Conclusions Exports in Modern services have gained importance. There is marked improvement in exports of services sophistication across almost all countries. Key words: Exports, Trade in services, Sophistication, decomposition

42

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Trade

Strength and weaknesses of agriculture in the era of globalization


AditiSawant
Department of Economics, St. Xaviers College, Mumbai - 400001, India Email: aditi.sawant@xaviers.edu In India, the process of globalization has experienced many phases of ups and downs i.e. from the initial period of exceptionally high to disappointingly declining GDP. The government of India has opened up many sectors and areas to Foreign Direct Investment (FDI) in a gradual manner. However, agriculture sector has been exposed in a restricted manner considering the threat of land grabbing as well as other technical, social and economic issues. In this paper an attempt has been made to evaluate the performance of agriculture in the pre and post globalization period as well the impact of restrictive FDI policies on the overall growth of the sector. An indepth analysis has been done of the expected threats, weaknesses as well as the opportunities which can be nourished in the era of globalization. A comparative analysis has been done of FDI policies and its impact on agriculture in other countries viz. USA, China and African countries. For empirical analysis, appropriate econometric models have been devised. The paper concludes with discussion on various aspects and possible outcome of the impact of FDI and the countervailing policy of Government of India with respect to agriculture sector. Keywords: FDI, Agriculture, Threats, Weaknesses, Opportunities

43

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Trade

Globalization and world trade


Santanu Das and Abhishek Puri
Symbiosis Institute of International Business (SIIB).Symbiosis International University (SIU), Rajiv Gandhi Infotech Park, G. No. 174/1, Hinjewadi, Pune - 411057, India Email: santanudas@siib.ac.in, abhishekpuri@siib.ac.in Introduction Economies all over the world face multiple and serious challenges in the aftermath of the Global Financial Crises. Regions have their own unique issues and challenges. For example the issues in Middle-East are different from the current economic crisis in Europe but the growth remains anaemic across both the regions. Our paper aims to study globalization and economic challenges against the backdrop of few factors. We also introduce solutions and strategies to overcome the issues. Methodology The Research methodology adopted is analytical research. The facts and figures, available from various sources have been used for analysis and critical evaluation of the contexts. Results and Discussion Different political structures: As per our Research, difference in the structure of law between countries can have important implications for the practice of international business. The risk of doing business in a country tends to be greater if it is politically unstable, subject to economic mismanagement, lack a legal system to provide safeguards against property right violations. Differences in culture and ethics: McDonalds was blindsided by a class action law suit brought against it in U.S. by Indian businessman in Seattle. They sued McDonalds for concealing the existence of Beef in their French Fries. News travel fast in Global Society and the revelation brought out Hindu Nationalist onto the street in New York. To develop cross cultural literacy, international business needs to employ host Country Nationals built a cadre of cosmopolitan executives and guard against dangers of ethnocentric behavior. The value systems and norms of a business affect the cost of doing business in the country. Foreign Direct Investment: Why should we go for FDI when the alternatives of exporting and licensing are available? High transportation costs and tariffs imposed on imports explain why firms prefer FDI. Other factors include location specific advantages in order to exploit resource endowments or location specific assets. Regional Economics Integrations and Unions: RTAs like NAFTA, MERCOSUR, SAARC etc. enables free movement of goods across borders, harmonization of product standards and simplification of tax regimes makes it possible to realize enormous cost economies by leveraging mix of reduced factor and skill costs. Global Trade& Financial Management: The volatility of exchange rates under the present managed-float system creates both opportunity and threats. The way of countering this volatility is to build strategic flexibility and limit the economic exposure by dispersing production into different location across the globe. Conclusion The six factors amongst few others can be used as a tool for analysing the impact of globalization on world trade.

44

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Trade

A gravity model approach to Indo-Asean trade-fluctuations and swings


Smwarajit Lahiri Chakravarty and Ranajit Chakrabarty
Department of Economics, St. Xaviers College, 30 Park Street, Kolkata-700016, West Bengal, India. Email: slcvarty69@gmail.com Department of Business Management,Calcutta University, 1 Reformatory Street, Kolkata - 700027, West Bengal, India Email:ranajit4@hotmail.com Introduction The proposition that Trade is an engine of growth is still an accepted fact for all major economies. In the post liberalization period, India's trade has shown a significant increase with its ASEAN members. Thus, the volume, direction and destination of India's trade have been dominated by Singapore, followed by Indonesia, Malaysia and Thailand. The other smaller ASEAN neighbors have shown positive participation even though the quantum is small. Also, with Indias global export growth dependent on ASEAN import, it justifies the growth of two way trade in several sectors. These trade flows need a closer inspection and interpretation, which we have attempted in this paper. Methodology The period of analysis is taken from 1991 to 2010 for the purpose of studying the Indo-ASEAN trade. The exercise carried out in the entire post liberalization period have depended on the gravity model where we have derived the core gravity equation and worked out the theoretical justification that could be interpreted as a standard theory to be relied upon. Prior to the main analysis, the Hausman test was used to choose between fixed and random effects. Finally the fluctuation index and swing index, both of which were developed by the authors, were used for a deeper analysis, implication and interpretation. Results & Discussion The Hausman test clearly tells us that fixed effects were favored against the random effects. The core gravity model helped us to deduce the implication that both economic size of the trading partner and distance played significant roles in shaping India's direction of trade. The augmented gravity model, as proposed by Frankel, was also used to show that bilateral external relations with contiguous countries affected India's trade but it was more influenced by trade with landlocked countries. Thus, the country dummies turned out to be quite significant in this regard. We extended the analysis even further to include population and thereafter by considering the per capita income we again observe the importance of size and distance in explaining the direction of Indias trade flow. An important research gap regarding analysis of the uniformity pattern of Indo ASEAN trade exists which has been addressed by us. We have used both the fluctuation and swing indices to infer that a systematic pattern emerges whereby the expected GDP swings of India matches with her observed GDP swings-the recurrent uniformity is present with a lag period of two years. Conclusion A significant portion of Indo-ASEAN trade can be explained by the gravity model which seems suitable for the Indian case with size and distance playing significant roles. The fluctuations and swings, if abrupt, would seriously affect the work of the planners. So, the swing analysis would help India to frame up a long term policy in the external sector with other regional blocs in general and with ASEAN in particular. Key Words: ASEAN, Augmented Gravity Model, Fluctuation, Gravity Model, Hausman Test, Swing

45

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013

Track 4: Sustainability
In recent times the world has been witnessing major changes in the environmental space through a series of events which have threatened to disturb the very fabric of human society and development. Efforts by various national and international organizations and the international community over the past few decades have tried to resolve some of the global environmental problems and issues through international agreements with moderate success. The changing world order coupled with economic growth in emerging markets and opening up of international trade markets has also been cited as drivers of environmental change and impacts. Various trends in recent years seem to only suggest that there is likelihood of serious deterioration of our natural assets which are critically necessary to sustain human societies and economies. Rising energy consumption, consumption patterns and urbanization in the developed and developing economies has led to constant evaluation of the climate change scenario and its impacts, and the ability to restrict our global temperatures. According to the Living Planet Report 2010 at the present rate of consumption, the world might need a second earth to sustain its resources! The forthcoming Rio+20 Summit in June 2012 is expected to deliberate on some of the major environmental threats facing us and takes policy initiatives towards achieving sustainable development. It is important that the comity of nations, civil society, business entities and scientists get together to drive our efforts toward planetary stewardship through collective understanding of the major issues in sustainability and development.

46

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Economics of environment of Indian agriculture in the era of global warming


Xavier Savarimuthu 1* and Smwarajit Lahiri Chakravarty
1Department 2

of Environmental Studies, 2Department of Economics, St. Xaviers College, 30 Park Street, Kolkata - 700 016, West Bengal, India Email: sxavi2005@gmail.com, slcvarty69@gmail.com Introduction Global Warming is the steady and continuous rise of the average temperature of the Earth surface along with the alterations in the radiation balance of the earthatmosphere system and its natural consequences. The Third Assessment Report (TAR) of the IPCC mentioned that the temperature of the earths surface has increased by about 0.60C in the 20th century which by 21st century is expected to increase by 1.60 C to 2.00C. In this paper we have focused on the problem faced by India due to the continuous rise of temperature and the possible solutions. Methodology The Ricardian Approach has been favoured against Crop Modeling method in this paper to evaluate the effect of climatic change on rice and wheat. We have formed a mathematical equation with net productivity (NPR) as a dependent variable and thereby both linear and quadratic changes of temperature and rainfall have been considered along with desirable control variables. The period of analysis is from 1950 to 2010 and region wise the analysis is carried out for twelve states i.e. whether the agricultural output is affected by the changing nature of climate sensitivity or not, the two agricultural items selected are rice and wheat. The Hausman Test estimates allow us to select the fixed effects (FE) against the random effect (RE). The results clearly tell us about increasing negative climatic change on agricultural output; the intensity of which increased in the post liberaisataion period. There after spatial correlation carried out on the fixed effects improved the efficiency of climatic sensitivity results. Eventually, Clines ideas have been used to project about the future where we have analysed for the period 2020-2050 under various temperature and precipitation scenario. Results & Discussion Thus we get three strong results increasing negative climatic changes on Indian Agriculture, presence of climatic sensitivity on rice and wheat, intensity of such changes lowered with the inclusion of spatial auto correlation. We have simulated and found out the impacts on net productivity if there are different changes in temperature and precipitation. With global warming rising, various policy implications can be considered. We can go for mitigation which refers to minimizing the possible dangers in the future which would imply lowering emissions and depending more on cleaner fuels. The other policy would be to embrace adaptation to climatic changes. The third method is the policy of reengineering of the future climate that would allow the lowering of CO2 from the atmosphere. Conclusion Agronomic research hints that rise in temperatures will have harmful impacts on many crops. The rise in temperature of the atmosphere are likely to affect the production of rice, thereby affecting the major rice growing countries of the Asian sub-continent, India being no exception. Keywords: Climate sensitivity, Clines ideas, Hausman test, Net productivity. Reference Cline, W. (2007), Global Warming and Agriculture: Impact Estimates by Country, Washington D.C., Peterson Institute. Indian Institute of Tropical Meteorology, Pune.( Temperature data) IPCC (Intergovernmental Panel for Climate Change), (1992): The First Assessment Report, Cambridge University Press, Cambridge. 47

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Mahendra Dev, S. (2007), Agricultural Growth The Oxford Companion of Economics in India- Edited by Kausik Basu. Stern, N. (2006), The Economics of Climate Change: The Stern Review, Cambridge: Cambridge University Press.

48

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Roles and challenges faced by the textile industry for the sustainable development in India
Preetha Leena and Initha Rina R.
Research Scholars in Management Studies, Bharathiar University, Coimbtore, India Email: preethaallwinson@gmail.com, initha1978@gmail.com The textile industry occupies a unique place in the economy of our country because of its contribution to the industrial output, foreign exchange earnings and for the employment generation. It is Indias second largest employers only after agriculture providing direct employment to 38 million people, primarily the weaker sections. Textile products are produced, distributed, traded and used worldwide. It has a unique position in India as a self-reliant industry, from the production of raw materials to the delivery of finished products, with substantial value-addition at each stage of processing. The textile manufacturing process is characterized by the high consumption of resources like water, fuel and a variety of chemicals in a long process sequence that generates a significant amount of waste. The common practices of low process efficiency result in substantial wastage of resources and a severe damage to the environment. The main environmental problems associated with textile industry are typically those associated with water pollution caused by the discharge of untreated effluents. Other environmental issues of equal importance are air pollution, excessive noise and odour. A qualitative assessment of sustainability in the textile manufacturing chain is therefore extremely important to help the textile industry benefit from better environmental practices. The aim of this paper is to present the innovative business practices inspired by the principles of sustainable development and also investigates the impact of textiles throughout the supply chain, starting with the raw fibre through to fabric production, consumption and disposal. Keywords: Environment Management System; Ecological and Social Problems of the Textile Chain; Sustainable Development; Textile Industry

49

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

E-waste awareness and disposal practices among residents of Pune city


Viraja Bhat* and Yogesh Patil
Symbiosis Institute of International Business (SIIB), Symbiosis International University (SIU), Rajiv Gandhi Infotech Park, G. No. 174/1, Phase-1, Hinjewadi, Pune - 411 057, Maharashtra, India Email: viraja@siib.ac.in, yogesh.patil@siib.ac.in Introduction In the last decade among the developing countries, India has witnessed a spectacular development in the area of information and technology and is responsible for considerable improvement of the human lives, economy, industries and institutions. A large range of electronic products are now available at an affordable price for the consumers as a result of innovations, technological advancements and globalization of economy. These new products have found an irreplaceable position in the life of common people enhancing the quality of lives by providing comfort, security, easy and faster acquisition of information. The other aspect of this scenario is the addition of the obsolete electronic products which are in large quantity, giving rise to a new type of waste termed as electronics waste (e-waste) also called as Waste Electrical and Electronic Equipment (WEEE). E-waste is diverse and complex in nature due to the presence of precious, toxic and hazardous materials which pose a challenge for managing it from cradle to grave. There are many initiatives taken by the Government and the other stakeholders like NGOs, manufacturers for management of e-waste to attain sustainability by adopting 3R approach. The implementation of the E- waste (Management & Handling) Rules, 2011 by Ministry of Environment and Forests (MoEF) from 2nd of May 2012 is one such major milestone which defines the roles and responsibilities of all the stakeholders including the consumers. The effectiveness and implementation of rules has many barriers coupled with consumer awareness about seriousness of e-waste management issues. The lack of awareness prevents them from following the correct disposal practices of obsolete or unwanted day to today use electronic products like refrigerators, washing machines, television, computer and printers, mobiles, etc. In this paper, an attempt is made to study and understand the e-waste awareness and disposal practices among residents of Pune city which ranks 8th in the e-waste generation in India. Methodology The study is a primary investigation based on the data collected through a survey of households of Pune city based on convenient sampling method with a sample size of 200 for which 100 responses were received. Results & Discussion The study revealed that 88% of the respondents have E-waste awareness. Across all the income groups the awareness is more than 80% but 78% of respondents mix the e-waste with solid waste for disposal, 75% are aware of the hazardous nature of E- waste, 78% are aware of the presence of metals and 75% are aware of bad effects of e-waste on health and environment. Only 9% are aware of Government of Indias E-waste (Management & Handling) Rules 2011, 71% store e-waste at home, only 4% are aware of the e-waste collectors in their area, 30% feel the existing E-waste collection system is convenient to them. Originality and Conclusion The statistics gives a broad picture that consumer awareness is very good but when it comes to the disposal practices they are not aware of the collection centers, the rules, correct disposal practices and hence result in mixing it up with the solid waste and fail to dispose it an environmental friendly ways. In the entire supply chain of e-waste the awareness of the consumer is of at most importance as it helps in developing a mindset of reuse, repair and recycle which will helps proper e-waste management to protect the livelihood, health ,environment and sustainable development. Keywords: E-waste, E-waste (Management & Handling) Rules, 2011, E-waste Awareness, Sustainable development 50

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
References Amitava Bandyopadhyay: Environmental Engineering Science, Volume 25-10, 2008 G.M.Hidy, Walter Alcorn, Raoul Clarke, Douglas Smith, Valerie Thomas: Environmental Issues and Management Strategies for Waste Electronic and Electrical Equipment: Journal of the Air & Waste Management, 2011 Khetriwal , D.S., Kraeuchi P, Schwaninger M.: A Comparison of electronic Waste recycling in Switzerland and in India, Journal of Environmental Impact Assessment Review, 25,492-504 :2005 Sushant B. Wath, Atul N. Vaidya, P.S.Dutt, TapanChakrabarti: A Roadmap for Development of Sustainable Ewaste Management System In India, ELSEVIER Journal, 2010 VirajaBhat, Dr.PrakashRao & Dr.YogeshPatil - Development of an integrated model to recover precious metals from electronic scrap - A novel strategy for e-waste management: Procedia - Social & Behavioral Sciences , 37 , 04/2011 - 2012

51

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

An inventory model for time varying deterioration and price dependent quadratic demand with salvage
R. Mohan
F-Civil, Department of Mathematics, College of Military Engineering, Pune 400011, India Email: mohan_rayappan@yahoo.co.in A deterministic inventory model is developed for deteriorating items when the demand rate is assumed to be a function of price which is quadratic in nature and the deterioration rate is proportional to time. The model is solved when no shortages occur in inventory. Later, the case of salvage is discussed. The sensitivity of the model is discussed with a numerical example. Keywords: Quadratic demand, deterioration rate, price dependent models, shortages

52

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Developing R&D teams through talent management for sustainable businesses


Minisha Gupta* and Usha Lenka
Department of Management Studies, Indian Institute of Technology (IIT), Roorkee, Uttarakhand - 247667 Email: reach2minisha@gmail.com Introduction Sustainability is an effort of business organizations to stay for long. It can be attained by developing core competence. Core competence is generated by continuous efforts for creativity and innovation which cannot be done in isolation. This needs functional expertise and diversified skills attained by task interdependence along with cooperative and collaborative efforts. To attain continuous creativity along with above mentioned features companies are employing teams. Teams are of various types including product development, project, crossfunctional, virtual and research and development (R&D) teams. Research and development (R&D) teams keep innovating products/services continuously thereby contributing to sustainability of the firm. Such teams provide technical and commercial viability to organizations by facilitating core competence. R&D team members are considered as most talented ones. Thus, for long term sustainability, companies need to retain and develop R&D teams by implementing talent management skills. Talent management helps in developing individuals expertise by providing training and coaching. It provides opportunities for individuals to work autonomously and expand their growth opportunities which satisfy their personal and professional needs and they work more dedicatedly for attaining organizational sustainability. Objective The paper aims to propose tools and techniques which can be applied by organizations for retaining and developing talent considering personal, social, and environmental needs of R&D team members. This provides technical viability to organizations to generate core competence which help them in long term sustainability. Methodology The paper is conceptual, based on review of literature on R&D teams and talent management. The paper reflects the practices proposed by various scholar and technicians for nurturing and grooming talent among individuals. This improvises talent of team members and they focus more on creative and divergent thinking to convert imagination in reality. Results and Discussion The paper proposes a comprehensive review of literature explaining the factors forcing need for business sustainability. It analyses the need for developing and maintaining R&D teams and their importance in managing business sustainability. This paper highlights various tools and techniques for developing individual expertise and nurturing their creativity. It helps in analyzing learning and thinking methods through which talent can be retained and nurtured for supporting long term growth and sustainability of business organizations. Keywords: Business sustainability, R&D teams, Talent management References Lewis R. E. and Heckman R. J. (2006). Talent Management: A critical review. Human Resource Management Review, 16(2), 139154. Kleef J.A.G. V., and Roome N. J. (2007). Developing capabilities and competence for sustainable management as innovation: a research agenda.Journal of Cleaner Production, 15(1), 3851. Thamhain H. J. (2003). Managing innovative R&D teams.R&D Management, 33 (3), 297312. Velva V. and Ellenbecker M. (2000).A proposal for measuring business sustainability.Greener Management International, 31(2000), 101120.

53

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

A novel, integrated and sustainable approach for the removal precious metal complex from industrial waste matrices using low-cost inactive biomass
Yogesh Patil* and Prakash Rao Department of Energy and Environment, Symbiosis Institute of International Business (SIIB), Symbiosis International University (SIU), Rajiv Gandhi Infotech Park, G. No. 174/1, Phase-1, Hinjewadi, Pune - 411 057, Maharashtra, India Email: yogesh.patil@siib.ac.in, prakash.rao@siib.ac.in Introduction Small and medium-sized enterprises (SMEs) like electroplating, printed circuit board manufacturing and jewellery units emanate large-volume low-tenor effluents containing precious metal complexes like silver-cyanide (Vapur et al., 2005). Cyanide and silver content in these waste matrices ranges from 5-25 and 1-7 mg/L, respectively. The statutory benchmarks for cyanide is 0.2 mg/L, while for silver the limits do not exist. Since cyanide is toxic and silver being precious metal, non-renewable and finite resource; their complete removal and recovery from effluents is the key. Recovery of silver-cyanide by conventional means is either not possible and/or very expensive. Biological approaches by employing live biomass microorganisms are subject to toxicity. Therefore, removal of such precious metal-complexes fom waste requires immediate attention. Biosorption approach using inactive low-cost biomass has immense potential of becoming efficient and economical alternative through which lost resource could be recovered and recycled. Overview focuses on utilisation of live biomass (Gaddi and Patil, 2011; Patil and Paknikar, 2000). Far less attention has been paid on the use of lowcost waste biomaterials. The present study attempts to employ some potential low-cost biomaterials for the management of silver-cyanide containing waste and proposes a sound cutting edge model for the same. Methodology Twenty-eight different low-cost biomaterials from diverse sources were collected and were processed/prepared for biosorption studies on silver-cyanide. Batch equilibration approaches were followed according to the method of Gaddi & Patil (2011). Diverse process variables were studied for efficient removal of targeted complex. Based on the feasbililty studies, the authors developed an integraed and sustainable model for the management of waste emanted from SMEs. Results and Discussion Screening of low-cost biomass showed that most of biomass efficient removal of silver-cyanide from waste matrices at acidic conditions. On the basis of their maximum uptake values at optimum acidic conditions and loading capacity, selection of the biomass was further narrowed down to Rice Husk and Eicchornia root biomass. Loading capacity of both the biomass was highly competitive and comparable with that of conventional materials. Diverse variables used were optimized. The data obtained conformed to the Freundlich and Langmuir adsorption models (R2 =>0.98). Sodium hydroxide was found to be efficient desorbing agent (>95%). Study also showed that recovery of lost resource from industrial waste matrices has potential for its use as a raw material for industry with simultaneous reduction in the demand for natural resources. Novelty and Conclusion Low-cost biomaterials viz. Rice husk and Eichornia root biomass were found to be an efficient biosorbents of silver-cyanide and has immense potential as biosorbents of becoming an economical and reliable alternative to conventional processes employed on commercial scale. Keywords: Industrial waste; Low-cost biomass; Silver-cyanide; SMEs; Sustainability References Gaddi SS & Patil YB (2011) International Journal of Chemical Sciences 9(3):1063-1072 54

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Patil & Paknikar (2000) Process Biochemistry 35: 1139-1151 Vapur, H., et al. (2005) Hydrometallurgy, 77(3-4): 279-286.

55

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Ecotourism development - An innovative approach for sustainable environmental solution


Bhakti R. Pawar 1 and Nitin Ranjan 2
1Lexicon

Institute of Management Education Pune Email: bhaktijit5eco@gmail.com, ibis.nitin@gmail.com


2IIMHRD,

The economic crisis is evidently a stumbling block for the acceptance and ratification of environmental agreements the problem is that compliance with technology which is environmentally-sustainable is often more costly. On the other hand, rapid economic growth is always accompanied by different actors coming together to oppose debate on associated environmental implications. The societies need to manage three types of capital viz. Social, economic and natural for sustainable development. With the tourism sector facing pressure from key source markets, high borrowing rates and policy dilemma on infrastructure development, industry players have called for positioning it as a key growth pillar. Ecotourism can be one of the best options as far as rural development is concern. Investment in these types of projects helps protect the health of families, improve our environment, and expand communities' economic opportunities - something can be called a win-win-win." The global economy stands on the threshold of the next phase- sustainable and inclusive globalization. To achieve Millennium Development Goals we need to adopt innovative plus ecofriendly strategy of development and i.e. Ecotourism, one of the most important segment of tourism industry, can be sustainable environmental solution. Keywords: Ecotourism, Infrastructure development, Innovation, Managing capital, Sustainable development

56

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Biodiversity conservation and sustainable development


Chanchal Charan
Department of Economics, M.D.D.M College, Muzaffarpur, Bihar, India Our whole Ecosystem is just like a woven carpet and if any of the loose thread be pulled it might unravel the carpet. So is the case of our biodiversity chain. The insatiable hunger of new civilization is threatening the healthy and diverse biological order as it is consuming resource at a much faster rate and thus posing great danger to the future generation smooth survival. There are so many causes which are affecting our biodiversity and thus affecting the environment. Population growth, over harvesting, heavy industrialization, use of chemical, fertilizers, green-gasses, global warming are some of the main reason of it. So there is an urgent need to bridge the gap between science and policy maker and our indigenous local knowledge around the world. It is because making biodiversity sustainable is one thing and to practice sustainable use of biodiversity is another. Making biodiversity sustainable is the process and sustainable use of biodiversity is the technique.

57

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Sustainable urban built environment and role of green buildings


Pallavi Tak Rai
Symbiosis School of Economics, Symbiosis International University (SIU), Pune, India Email: pallavi.rai@sse.ac.in Introduction India is going through a phase of major economic transition, from a developing nation to one of the fastest growing economies in the world. This transition is bringing home, opportunities as well as challenges, and one of such is Urbanization. The unprecedented pace of urbanization is posing serious questions on sustainability of Indian cities environmental and economic. In the given scenario, construction industry which is growing at 9.5% on an average in India, as against the global average of 5%, is bound to leave a deep footprint and influence. In the whole urban transformation story, construction industry can be made to play the role of a protagonist. Through making the buildings green and eco-friendly; construction industry can bring about major change by contributing not only towards, mitigating environmental hazards but also bringing urban sustainability. Considering select case studies from construction industry in Pune, this piece of research would delve into the urban sustainability issues, related policy parameters of green buildings, their practicability and profitability. The parameters prescribed by various Indian Rating organizations for green buildings like GRIHA, IGBC and STP, have been observed in some projects in Pune. The study of the design, construction, operation and maintenance of these projects, would reflect the cost- benefit analysis of feasible green buildings with specific regard to economy and sustainability. The objective of the study is to discover this convergence. The study is directed towards analyzing the feasibility and benefits of Green Buildings in creation of a sustainable urban built environment. Methodology The paper would follow case study approach, considering some construction projects, which not only follow eco-friendly practices but also use innovative methods to reduce, recycle and reuse. This paper will also suggest economic modeling to ensure sustainability of green buildings through their life cycle. Results and Conclusion Congress and confluence of environmental and economic sustainability is possible through Green Buildings. The capital cost of green buildings may be marginally higher than the conventional ones, but operation and maintenance costs of such buildings is relatively less. Also, such projects attract more rebates in premium and property taxes as proposed by some municipal corporations, besides earning popularity for the project. Concept of Green building can offer a win-win situation to all stake holders when applied efficiently. Keywords: Built- Environment, Green Buildings, Urban - Sustainability. References Struyk J. Raymond and Gidding Stphen,. The Challenge of an Urban World, An Opportunity for U.S. Foreign Assistance, International Housing Coalition www.intlhc.org/docs/The_Challenge_of_an_Urban_World.pdf MoonisRaza and Kundu,A. (1978):Some Aspects of Disfunctional Characteristics of Urbanisation. Socio-Economic Development Problems in South and South East Asia, Popular Prakashan, Bombay National Rating System GRIHA, Evaluation Tool to Help Design, Build, Operate, and Maintain a Resource-Efficient Built Environment, Volume I, Ministry of New and Renewable Energy, GOI and TERI, http://www.rsrdc.com/uploads/files/111201071822PMGriha%20Manual.pdf McKinsey Report, (2010) Indias Urban Awakening: Building Inclusive Cities, Sustaining Economic Growth Urbanization is Critical to Indias Development. 58

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Materiality analysis - A key area in corporate sustainability


Geetanjali Govind Pitre
Symbiosis Centre for Management and Human Resource Development (SCMHRD), Symbiosis International University (SIU), Pune 411057, India Email: geetanjali_pitre@scmhrd.edu The changing global environment is challenging companies to look beyond financial performance to drive business. Business leaders are trying to find out solution to environmental and social issues through innovation and alternative thinking. Business organizations are trying to measure and monitor impact of their activity on the environment and human being. They disclose key materiality issues and action by company on these issues to a diverse range of stakeholders through sustainability report to maintain transparency & to engage the stakeholders, which can result into long term association and successful sustenance of a business. Any organisation has to decide its priorities as it always will have the constraints for resources, time and will have multitude of issues to solve. Hence materiality analysis helps the organisation to priorities allocation of resources and focus for improvement. The author has demonstrated the process of materiality analysis with the help of illustrative example. The author has further concluded with the steps to be followed for highly critical materiality issues. Keywords: Sustainability; Stakeholders engagement; Materiality Analysis

59

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

India: Emergence of green policy


Krithi Venkat
Department of Environmental Engineering, SJCE, Mysore 570006, India Email: krithivenkat123@gmail.com India is one of the fastest growing countries in the world, both in terms of economy and population. The need to meet demand of such a rapidly expanding nation has put immense amount of pressure on the environment sacrificing environmental quality. Air and water pollution and improper handling and disposal of solid waste have resulted in unhygienic conditions in many Indian cities. Indian environment had seen its worst phase during independence till early 90s when the economy saw its steepest rise during urbanization. Some believe that economic growth and development is the cause of these environmental issues. Others believe economy is solution to improving India's environmental problems and help in managing and preventing pollution. In this paper, I have discussed the relevance of environmental policies on Indias economy. National Council for Environmental Policy and Planning was set up in 1972 and later evolved into The Department of Environment in 1980, under Prime Minister Indira Gandhi with the main aim of promoting environmental protection. The department was then renamed as the Ministry of Environment and Forest in 1986 which is active till date. One of the first legislations passed by the Indian government, pro-environment was the Indian Forest Act of 1927. It was passed in general interest to protect and preserve forests and wildlife of the country. The Indian government has become more environmentally sensitive since then. However, there was no comprehensive legislation passed for environmental protection until 1986 when the Environmental protection Act was passed. The Act however had some major loopholes which were looked into while framing specific laws in the coming years. The National Environmental Policy 2006 is the outcome of extensive consultations with experts in different disciplines, Central Ministries, Members of Parliament, State Governments, Industry Associations, Academic and Research Institutions, Civil Society, NGOs and the Public. It is proposed as a comprehensive framework addressing environmental management challenges within and across a large number of sectors, obviating separate sector/cross-sector policies. However, it does not include the concept of climate change and guidelines to tackle it. India has a very vast resource of renewable resources. It has the potential to produce close to 1,50,000 MW of electricity only through renewable resources. The annual average increase in net electricity consumption will be about 4.0 percent from 2002 to 2035. If the dependence on coal, oil and natural gas is reduced by a mere 10% of the existing consumption, we will see an enormous increase, almost 4 fold, in the production of electricity using renewable energy by 2035. The government thus needs to focus on laws and policies in interest of the environment. The National Action Plan on Climate change enforces this point and advices a shift to the use of renewable resource. The NAPCC with its eight divisions is the most promising development in Indias environment policy spectrum. It gives direction to proceed towards the use of renewable resources and to adopt more environmentally safe and sustainable practices. Keywords: National Action Plan; Climate Change

60

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Corporate sustainability performance assessment model: A case study of cement industry


Praveen Goyal1, Zillur Rahman2, A.A. Kazmi3 and Vinod Kumar 4
1,2,4Department

of Management Studies & 3Department of Civil Engineering, Indian Institute of Technology, Roorkee - 247667, India Email: yusuffdm@iitr.ernet.in, praveeng23@gmail.com, kazmifce@iitr.ernet.in, vinodmehta8383@gmail.com Purpose The aim of this paper is to provide a model to assess the corporate sustainability performance of Cement Industry. Design/methodology/approach An analytical hierarchy process model is proposed to measure sustainability performance with a view to provide the area of improvement in future. The triple bottom line concept is used for the development of hierarchy of corporate sustainability. The two stages of the approach selection and prioritization of sustainability performance indicators are adopted. A case study of is also presented. Findings On the basis of developed model corporate sustainability performance of case company is assessed. The model developed in this study support the managers to evaluate the sustainability performance of their companies. The selection of performance indicators is a very critical stage in the model development. Case study reveals a positive growth in sustainability performance of case company. Result and Discussion The developed model would be helpful in different companies for comparative assessment. This model will provide guidelines for the sustainability assessment purpose in different sector. This model will be helpful for the practitioners and investors to assess the sustainability performance of particular company they are interested in. The indicators used in the sector can modify according to the sector requirement. Originality/value The model will be helpful in developing a benchmark useful to assess the performance of companies and its contribution towards planets health. Keywords: Analytical Hierarchy Process, Cement Industry Corporate Sustainability assessment References Neely, A., Gregory, M. and Platts, K. (1995), "Performance Measurement System Design: A Literature Review and Research Agenda", International Journal of Operations & Production Management, Vol. 15 No.4, pp.80-116 Sikdar, S.K. (2003), "Sustainable development and sustainability metrics", AICHE. Journal, Vol. 49, pp.1928-32 WBSCD, (2002), Towards a Sustainable Cement Industry, Available at: www.wbcsd.org/web/publications/batelle-full.pdf (accessed on 20th April. 2011) WCED, (1987), Our Common Future, Oxford University Press, Oxford

61

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Are the non-renewable resource utilization and waste management practices employed in Indian automobile sector sustainable?
Shilpa Kulkarni*, Prakash Rao and Yogesh Patil
Symbiosis Institute of International Business (SIIB), Symbiosis International University (SIU), Rajiv Gandhi Infotech Park, G. No. 174/1, Phase-1, Hinjewadi, Pune - 411 057, Maharashtra, India Email: shilpa.kulkarni@siib.ac.in, yogesh.patil@siib.ac.in, prakash.rao@siib.ac.in Introduction Growth in automobile sector is an indicator of good economy (SIAM, 2011). Post liberalization, India has opened doors for various businesses and automobile sector in particular has benefited due to foreign investment on Indian soil. The industry has grown into leaps and bounds. As per Nomura Analysts, global automobile demand will continue to rise despite marked disparities between regions. Auto sales volumes will likely climb 6% in 2013 as against 4% in 2011 (KPMG, 2011). Since the automobile industries make use of and give rise to hazardous organic and inorganic chemicals and materials (Mckinsey Report, 2011); therefore this sector is facing several environmental challenges in non-renewable resource utilization, production, servicing and waste management. The present paper attempts to answer a very critical question whether the resource utilization and waste management practices employed in automobile sector are sustainable or not? Methodology The present research is focused on secondary data resources. The Global Reporting Initiative (GRI) reports, Environmental audits and other resources were considered for the research. A detail review of the secondary data hence segregated as per the type, usability, awareness and training and waste management practices. Automobile sector comprises of small scale to large scale vendors, vehicle manufactures, dealers and service stations. The study is considering the vehicle manufacturers and large scale vendors. The study analyzes the information gathered from secondary data from various reports and organization communication to understand the different types of strategies used for waste management in Indian automobile sector. Findings and Interpretation The study identifies the key practices in industrial waste management which are prominently documented. Land fill for hazardous waste, recycle for organic waste are prominently used practices. Unique practices such as creating paint primer from paint shop sludge are also observed during the study. The chemical compositions of hazardous waste observed during the study contained isocyanates, methylene chloride, toluene, xylene, etc. The treatment of these chemical generally outsourced to government approved recyclers. Since the diverse range of toxic and precious metals is the key for automobile sector; their utilization and waste management practices followed were also studied and compared with the benchmarks set by statutory agencies in India. Limitations and suggestions The study is focused on Pune and around region. The large organizations are considered for the study where as auto industry is fragmented into medium and small scale industries. The details of actual operations were not considered and only audited details were considered for the study Originality The present research bridges gap between the scientific waste management process and decision making by describing the various management practices followed by auto sector in India. This research will pave the way to understand the environmental sustainability efforts taken by Indian automobile industry Keywords: Automobile sector; Sustainable practices; Chemicals; Non-renewable resource References SIAM (2011) Profile of the Automobile Industry in India 2010-11(Jan 2012). 62

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Waste Management in India 2011, McKinsey (2011) KPMG (2011) The Indian Automotive Industry.

63

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

World environmental Kuznets curve and the global future


Saahil Sundeep Waslekar
Nagindas Khandwala College, University of Mumbai, Mumbai - 400064, Maharashtra, India; Email: me_saahil@hotmail.com The world is heading towards an inevitable divide. The basis for division is trends in per capita income, rate of technological innovation, continued reliance on non-renewable sources of energy and thus, impact of per capita carbon emissions on the environment. The Environmental Kuznets Curve illustrates these trends and defines a countys future towards Sustainable Development. This paper is an evaluation of 30 countries using the Environmental Kuznets Curve (EKC). EKC examines relationship between per capita income and environmental degradation as reflected in per capita CO2 emissions. Environmental Kuznets Curve has been plotted using data from 1960-2050. The paper shows these countries characterised as per their CO2 emissions. It concludes by drawing attention to Asia. In Asia, a lot can be implemented from experiences in South America and from the European Union. By 2050, many Asian economies will transit from emerging market economies to developed status. The current century requires common goals in order to provide tomorrows sustainable environmental solutions. Keywords: Environmental Economics; Environmental Kuznets Curve; Sustainable Development

64

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Social marketing campaign for e-waste companies in India


Akhil Jain1, Vinod Kumar2, Zillur Rahman3, A.A. Kazmi4 and Praveen Goyal5
1, 2, 3, 5 Department 4Department

of Management Studies, Indian Institute of Technology, Roorkee, Uttarakhand, India-247667 of Civil Engineering, Indian Institute of Technology, Roorkee, Uttarakhand (India)-247667 Email: yusuffdm@iitr.ernet.in, kazmifce@iitr.ernet.in Introduction Industrial revolution has done a lot in making a humans life easy by developing electronic devices. Lot of efforts is being put by manufacturers into the marketing of these devices to boost sale. These devices generally have life time of 3-5 years after which they are at their end-of-life stage (Kumar et al., 2011). Now, India is facing a huge problem of these end-of-life electronic devices, generally known as e-waste. Sensing the scale of the crisis, Indian Government included e-waste in The Hazardous Materials (Management, Handling and Transboundary Movements) Rules, 2008. Due to tremendous increase in level of e-waste in India, Government later introduced separate rules for handling e-waste i.e., E-wastes (Management and Handling) Rules, 2011, which came into effect from 1 May, 2012 (The Hindu, 2012). At present, many private players have ventured into management of e-waste by setting up their facilities. But, most of the e-waste is still channeling to unorganized sector that do not follow environment friendly practices and pollute environment with hazardous constituents of e-waste. Therefore, merely implementing e-waste rules is not enough; there is a need for designing and implementing a social marketing campaign for an e-waste free environment. This campaign will help in making people aware of the negative impact that they are creating on environment by not giving their e-waste to these recycling facilities. Hence, this paper aims at how social marketing campaign can be designed to create awareness among people to contribute towards e-waste free environment. Methodology To design social marketing campaign for e-waste handling companies, this paper reviews various researches based on designing a social marketing campaign, which have been carried out in different countries including India for different purposes. Moreover, this social marketing campaign for e-waste handling companies is formulated using Andreasens (2002) Benchmarks which were further developed by McDermott et al. (2005) as shown in Table 1.
Table-1: Andreasens Benchmarks for Social Marketing Campaign Benchmark Explanation 1. Behavior change Intervention seeks to change behavior and has Specific measurable behavioral objectives. 2. Audience research Formative research is conducted to identify target consumer characteristics and needs. Intervention elements are pre-tested with the target group. 3. Segmentation Different segmentation variables are considered when selecting the intervention target group. Intervention strategy is tailored for the selected segment/s. 4. Exchange Intervention considers what will motivate people to engage voluntarily with the intervention and offers them something beneficial in return. The offered benefit may be intangible (e.g. personal satisfaction) or tangible (e.g. incentives for participating in the programme and making behavioral changes). 5. Marketing mix Intervention consists of promotion (communications) plus at least one other marketing P (product, price, place). Other Ps might include policy change or people (e.g. training is provided to intervention delivery agents). 6. Competition Intervention considers the appeal of competing behaviors (including current behavior). Intervention uses strategies that seek to minimize the competition.

65

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Results This paper illustrates planning, design and execution of social marketing campaign. It will be demonstrated how peoples awareness can be increased by social marketing campaign to make them put in their e-waste to organized channel rather than un-organized channel, which will consequently help in making the Indian environment free of hazardous e-waste. Conclusion Social marketing proved to be a very successful strategy for raising the awareness of people (Forrester et al., 2010). In order to perceive increased and sustained e-waste management rules compliances, more attention needs to be aimed at making people sensitive and conscious about the e-waste free environment. Keywords: E-waste, India and Social Marketing Campaign

66

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

Use of soft computing: An innovative technique for sustainability


Sudhir Chitnis and Dipak Wayal
Vishwakarma College of Arts, Commerce and Science, Pune, India Email: surusudhir21@gmail.com , dipak.wayal@gmail.com In these days, world is witnessing paradigm shift with the advent of innovative techniques in the field of information technology. It would not be exaggeration to say that technology is playing decisive role in the organization as if blood in the body. Various techniques are being developed for the purpose of growth and sustainability of business and natural assets too. Soft computing, the field of information technology is being widely used for the sustainability of natural assets (i.e. degraded hand-written and printed data) by recognition of data. The soft computing is used in various fields such as face recognition, forensic labs, and Government institutions and so on. It is the technical method, through which data is being captured and recognized. Several trends in recent years give the impression to suggest that there is a possibility of serious deterioration of our natural assets. These are critically necessary to sustain human societies and economies. In this regards, researchers have tried to explore the use of soft computing and its role and importance in sustainability. This research paper focuses on to find out the role of soft computing by recognising data of Devanagari script and it also tried to explore the importance of soft computing in the sustainability of Devanagari script. This paper also focus on fuzzy logic based system and its uses. In this research, primary (observation method) and secondary (books & internet) data is used. Degraded handwritten and printed data is being used for the research in archaeology department for the study, through which the role and importance is carried out. It is found that soft computing is highly being used for the data recognition in this field. It is also found that soft computing is highly important for the sustainability of these documents. For this research, Principle of Soft Computing by S.N. Sivandam & S.N.Deepa, Fuzzy Logic by Timothy Ross, as reference books is being used. Keywords: Character Recognition, Innovation, Soft Computing, Sustainability.

67

Symbiosis Institute of International Business (SIIB)


Symbiosis International University (SIU), Pune, India

International Conference on Trade, Markets and Sustainability


22-23 February 2013
Track: Sustainability

An ecofriendly method of managing hexavalent chromium from industrial wastes


Nilisha Itankar 1* and Yogesh Patil 2
1*Symbiosis

Institute of Technology (SIT), Symbiosis International University (SIU), Near Lupin Research Park, Gram: Lavale, Tal. Mulshi, Pune - 412 115, India 2Symbiosis Institute of International Business (SIIB), Symbiosis International University (SIU), Rajiv Gandhi Infotech Park, G. No. 174/1, Hinjewadi, Pune - 411 057, India Email: nilishai@sitpune.edu.in, yogesh.patil@siib.ac.in Introduction Chromium metal of hexavalent type has got unique properties of corrosion resistance, hardness and colour and therefore finds large number of applications in industries like chrome-plating, automobiles, steel and alloys, paints, leather tanning and ammunition factories (Raji & Anirudhan, 1998). Consequently, these industries discharge large quantities of chromium containing effluents. Since chromium is a known mutagen and carcinogen (Oguz, 2005), the prevalent pollution laws in most countries require its complete removal from waste streams before discharge. The most commonly adopted conventional method for chromium removal method is chemical reduction-precipitation (Baral et al. 2006). However, the process is highly energy-intensive, consumes large quantities of chemicals and hence is not economically attractive. It is therefore imperative to look for a new practical, economic, efficient and sustainable alternative for the management of chromium bearing industrial effluents. Biomanagement approaches are gaining immense creditability world across in the recent years (Vinodhini & Das, 2009). Chromium being non-renewable and finite natural resource, the argument is not limited only to their removal from the effluents, but also extends to finding an efficient and economical ways of recovery/recycling. The present study explores the possibility of using saw dust for the removal of hexavalent chromium from industrial waste. Methodology A batch equilibration was used to determine the biosorption of chromium using saw dust. All the experiments were conducted as per the method prescribed by Patil (2012). Analysis of chromium from experimental solutions were carried out as per APHA (1998). Results and Discussion Saw dust showed 80% of chromium removal from aqueous solutions. Kinetic study showed that uptake of chromium using saw dust was maximum in first 10-15 minutes. The sorption of chromium was found to be pH dependent and it increased with decrease in pH. Sorption also conformed to Langmuir and Freundlich adsorption isotherm models. A chemical known L-cysteine enhanced the removal of chromium from waste. Based on the experimental results the authors attempt to proposes an ecofriendly model for the management of chromium bearing industrial effluents. Conclusion: The biomaterial tested viz. saw dust was found to be efficient and ecofriendly sorbent for hexavalent chromium removal. The study adds to the advancement of knowledge in the field of resource recovery and waste management. Keywords: Hexavalent chromium; Saw dust; Ecofriendly method References: APHA (1998) American Public Health Association, 20th ed. Washington, DC. Baral, Saroj S. et al. (2006) Biochemical Engg. Journal (http://dspace.nitrkl.ac.in/dspace. Oguz, E. (2005) Colloids Surf. A: Physicochem. Eng. Aspects, 252, 121-128. Raji, C. & Anirudhan, T.S. (1998) Water Research.

68