Professional Documents
Culture Documents
Paper Singh
Paper Singh
DR IRA BAPNA
PROF H S SALUJA
PROF
PROF VISHAL SOOD
PROF
DR MANDIP GILL
PROF KRISHNA N MISHRA
PROF
EXCEL BOOKS
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ISBN: 978-93-5062-183-7
Copyright © 2013, Dr Ira Bapna, Prof H S Saluja, Prof Vishal Sood, Dr Mandip Gill and Prof Krishna N Mishra
All Rights Reserved.
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Contents
Preface xv
Acknowledgements xvii
About the Editors xix
List of Contributors xxi
PART I: FINANCE
Chapter 1 Can a Country Claim Bankruptcy and Can Everybody
Have a Steak Once a Week? 3
Ulf Hanning
Chapter 2 Relationship between Macro Economic Variables and Crude Oil
Prices in India: A Study of Dynamics of Price Innovation 10
Prof. Vishal Sood, Dr. Ira Bapna, Dr. N. K. Totala and Prof. H. S. Saluja
Chapter 3 Dynamics of Corporate Events into Stock Prices in India: Testing the
Semi-Strong form Efficiency of BSE Sensex Companies 24
Prof. H. S. Saluja, Dr. Ira Bapna, Dr. Sunita Totala and Prof. Vishal Sood
Chapter 4 Testing Weak form Market Efficiency of Indian Stock Market: An
Innovative Study of BSE Indices 36
Prof. H.S. Saluja, Dr. N.K. Totala and Prof. Vishal Sood
Chapter 5 An Econometric Analysis of Dynamic Innovations in Gold
Price Volatility in India 45
Prof. Vishal Sood, Dr. Ira Bapna, Dr. Sunita Totala and Prof. H. S. Saluja
Chapter 6 An Eminent Study on the Characteristics and Determinants of
FDI in Ghana 58
M. Daniel Rajkumar and Mr. Emmanuel Attah Kumah
Chapter 7 We Need to Change it and Change it Now 66
Dr. G.S. Bhalla
Chapter 8 Construction of an Optimal Portfolio: An Application to Sharpe’s
Single Index Model “with Special Reference to Nifty Midcap” 71
Dr. Nitin Tanted and Akhilesh Jat
Chapter 9 A Study of Risk Reversal Strategy as a Predictor for the USD-INR
Exchange Rate Movements 88
Dr. Yamini Karmarkar, Muskan Karamchandani and Gunjan Khushalani
Chapter 10 An Empirical Study of Treasury Management Practices across
Indian Industries 104
Dr. Dinesh D. Harsolekar and Svetlana Tatuskar
Chapter 11 Investigation of Causality between FIIs and Mutual Fund
Investment in India 115
Charu Gupta, Kanishka Jain and Rakesh Shahani
vi Dynamics of Innovative Practices in Management
When memories exceed dreams, the end is near. The hallmark of a truly successful organisation is
the willingness to abandon what made it successful and start afresh.
–Friedman, 2005
'Dynamics of Innovative Practices in Management' is the central theme of the first
International conference organised by Maharaja Ranjit Singh College of Professional Sciences,
Indore. The theme is relevant with the basic idea of incessant growth and success for every
individual and business organisation in this era of 'Vasudhaiva Kutumbakam'. This is the
second time that we are coming up with conference proceedings, comprising selected research
papers presented at the conference in person or through Skype. It is for the first time that
we have come up with the soft version of proceedings with the punchline 'Save Paper, Save
Trees' with corporate social responsibility sown deep in our hearts. The motto behind this
proceeding is to spread the knowledge stirred up during the conference to be assessed by
corporates, professionals and individuals in their streams.
Dynamics of innovation implies the synergy, networks, creativity and positive accidents in
the paradox of industries and business life. The urge for innovativeness is crucial for the
success of businesses, organisations, and geographical regions in the face of ever-constraining
global competition. The main goal of the globalised world is to develop innovativeness and
related processes into a more sensitive, efficient and result-driven direction. This standpoint
is mentioned as a goal in various instances with regard to economic, science, and technology
policies, and it concerns the public sector, higher education, and business life alike. The
traditional Triple Helix Model, featuring the innovation processes that intervened the
cooperation between the universities, the public sector and the private sector, has become
an alternate or option to be chosen with the global open innovative systems functioning
dynamically in complex situations.
At this juncture, it is necessary to analyse the need and modes of innovation at the global
platform. These proceedings are in-depth analyses of the navigation required for innovation
for ever-sustaining growth.
The first section comprehensively envelops the innovations of FDIs and FIIs, the innovation
in stock and environmental relationship with construction of optimal portfolio, oil, bullion,
future market and treasury management. Insurance sector has been analysed with new
creations and the role of green finance for sustaining development. Price innovation in
future markets and tips for investors were nurtured with new ideas. Need to create new tax
systems and tax-saving schemes are analysed along with the role of e-Governance. The
section also unveils the role of microfinance and its dynamic impact over society.
xvi Dynamics of Innovative Practices in Management
CEOs in the present global context are likely to narrate that the ability to develop new
ideas and innovations is one of the top priorities of their organisations. The emergence of
the knowledge era, extreme global competition and substantial technological advancement
has seen innovation become increasingly central to competitiveness. The innovation and its
dynamics were focused in the context of consumer preference and customer satisfaction in
all the segments of industry. Rural marketing, green marketing, surrogate advertising, digital
marketing, integrated marketing and sensory marketing were the central theme on which
innovations were implemented. The service quality, corporate social responsibility and service
tangibility covered all the vistas of innovations in marketing, in the second section.
There are increasing attempts by managers to design linear innovation management processes
that can be derived from practice and the increasing acceptance of the dynamics of the
innovation culture as key drivers in enabling environment for employees to work and become
successful organisations. The increased spiritual quotient will motivate employees to make
bigger sacrifice and improve the bottom line of the organisation. Thus, organisations must
focus on innovative practices to be employed for building employees' attitude, morale,
trust, leadership and emotional intelligence to ensure long-lasting growth. Better models
of learning have to be created for the strong foundation of knowledge era. In this creative
age, entrepreneurship and women empowerment was the key driver and these form the
third section of the proceedings.
The line of attack on data mining, e-Marketing, management information system,
e-Commerce, e-Banking, e-Learning, cloud computing, neural network, LIS modelling
was the most favourite destination for increased creativity. These interrelated issues were
discussed in the fourth section of the proceedings.
It is expected that the soft version of the proceeding will provide the change-seekers ample
insight for vision and innovations.
In the global economy, investing in technology – and only technology – is unlikely to pay off.
Wealth will flow to those that exhibit innovation in a dominant paradigm, own a strong intellectual
property position in critical technologies, and have high-performance business models.
–Wal-Mart
Contents xvii
Acknowledgements
Acknowledgements
Dr Ira Bapna is Professor (Management) and Director at Maharaja Ranjit Singh College of
Professional Sciences, Indore. She has over 13 years of teaching experience. She has to her
recognition, more than 40 research papers published in national and international journals
and has attended several national and international conferences. She also conducts corporate
training under the flagship of BHEL (Bhopal), BHEL (Mumbai), SAIL and Bajaj Allianz.
She has authored two textbooks on Basic Accounting for graduate students. She has also
conducted FDP in Accounting, Financial Statement Analysis, and Refresher Course conducted
by Academic Staff College, DAVV Indore. She has conducted various national-level Research
Methodology and Case Writing Workshops. She is a recognised PhD Supervisor at Devi
Ahilya Vishwavidyalaya, Indore as well as at Pacific University, Udaipur.
Prof. Harmender Singh Saluja, (pursuing his PhD), MBA (Finance) and MCom, is working
as faculty member (Finance), Maharaja Ranjit Singh College of Professional Sciences, Indore.
He is also the coordinator of MBA Programme. He has teaching experience of over 16 years.
He has attended around 18 national and international conferences and workshops and has
eight national and 16 international publications to his credit. He had also attended the
Syllabus Review Workshop organised by Chairman, Board of Studies, DAVV, Indore. He
has sucessfully organised a National Conference and has conducted national-level workshops
in Research Methodology.
Prof. Vishal Sood (pursuing his PhD) is at present faculty member (Finance), Maharaja
Ranjit Singh College of Professional Sciences, Indore. He is also the Coordinator of BBA
programme. He has participated in 23 national and international conferences and workshops
and has 16 National and 23 International publications to his credit. He has certifications
in Financial Derivatives" from IIM Kozhikode and BSE Mumbai. He has taken FDP on
Econometrics at MRSCPS, Indore. He has also successfully organised management fest at
the national level.
Dr Mandip Gill, PhD, MBA, MSc, has more than 10 years of experience in the human
resources area. She is currently working as Associate Professor in Maharaja Ranjit Singh
College of Professional Sciences, Indore. She has been associated with several institutions
such as IPS Academy, Indore; Amity Global, Indore; and with IBS (ICFAI), Indore.
Dr Gill has carried out several consultancy assignments for Multispecialty Clinics and
Hospitals, designing aggressive promotional marketing strategies and campaigns. She has
conducted lectures for professionals from UK, Ireland, Germany and France on Indian
culture and Hindi language. She has also coordinated faculty development programmes
and workshops both for the faculties and students. She has also carried out developmental
programmes for professionals especially in the area of emotional intelligence. Her areas of
academic interest include Human Resource Development, Strategic Human Resource
xx Dynamics of Innovative Practices in Management
Management, Organisational Behaviour and Business Ethics. She has several papers published
in journals of repute and has presented numerous papers at national and international
conferences.
Krishna Narayan Mishra, MBA, is currently working as Assistant Professor (Marketing),
Maharaja Ranjit Singh College of Professional Sciences, Indore. Previously, he worked as a
trainer with Dastak (Ahmedabad), Channel Manager with ICICI Lombard (Mumbai), and
Customer Care Executive with Bharti Airtel Pvt. Ltd. (Surat). Besides these officiates, he is
a perfect educationist and has published three research papers in different fields. He has to
his accomplishments many educational projects on Quality and Efficiency of Education in
Tribal Areas, Customer Satisfaction related to Telecom Industry, Cryptography. Presently,
he is also Joint Secretary of Youth Forum of RTI, Indore – an NGO dealing with Right to
Information Act.
Contents xxi
List of Contributors
Heena Dhanotia Lecturer, Amity Global Business School, Fifth Floor, SEBIZ
SQUARE, C-6, I.T Park, Sector-67, Mohali (Punjab)
Inderpreet Gandhi Assistant Professor, M.B Khalsa College, Indore (MP)
Ira Bapna Professor and Director, Maharaja Ranjit Singh College of
Professional Sciences, Indore (MP) India
Jaya Nema Asst. Prof., Arihant Institute of Management Studies, Indore
Jeetendra N. Mulkikar Research Scholar, R.D.V.V., Jabalpur
Jyoti Jain Research Scholar, B.N. College, MLSU Udaipur (Raj.)
Jyoti Sharma Reader, IIPS, Indore
Kala Mohan Principal, Macro Vision Academy, Burhanpur
Kamna Lad Asst. Prof., Arihant Institute Of management Studies, indore
Kamran Sultan Director, Pt. Jawaharlal Nehru Institute of Business
Management, Faculty of Business Management, Ujjain ( M.P. )
Kanishka Jain Research Scholar, Bhim Rao Ambedkar College, (Univ. of Delhi),
Yamuna Vihar, Delhi-94
Kapil Dev Sharma Head, JDB Government College for Girls, KOTA – India
Kapil Kumar Suri Corporate Trainer Consultant Faculty
Karunesh Saxena FMS, MLSU, Udaipur (Raj.)
Kavita Tiwari Assistant Professor. Asian Institute of Communication &
Research (AICAR B- School) –Mumbai (Maharashtra)
Kehkashan Kamran Life Insurance Corporation of India, CZO, Bhopal ( M.P. )
Kiran Soni Assistant Professor, Pacific Institute of Management and
Technology, Udaipur
Krati Saxena Lecturer, S.S. Jain Subodh P.G. Mahila Mahavidyalaya, Jaipur
Kratika Neema Lecturer, School of Commerce, DAVV, Indore (MP) India
Krishna N. Mishra Asst. Professor, Maharaja Ranjit Singh College of Professional
Sciences, Indore
Kshama Ganjiwale Senior Lecturer, Shri Vaishnav Institute of Management, Indore
Kunal Rawal Asst. Prof., Arihant Institute of Management Studies, Indore
Kuntal. L. Sharma Research Scholar, I.I.P.S. Devi Ahilya University, Takshashila
campus, Indore
L.K. Tripathi Head, School of Commerce, DAVV, Indore (MP) India
M.A.Thorat Asst. Professor , Chatrapati Shivaji Collage, Kanned, Dist.
Aurangabad MS, INDIA
Contents xxv
List of Contributors
Anuradha Pathak*
Dr. Pragya Sharma*
Manohar Kapse**
Swati Kapse***
Organizations are made up of people and their relationships. Successful organizations need
employees who will do more than their usual job duties and perform beyond expectations.
Organizational citizenship can be very helpful to organizations because it adds to the performance
of the organization and can become a competitive advantage. In this juncture, the paper
attempts to explore the importance of Organizational Citizenship Behaviour of university
teachers of Indore City as the result of organizational commitment. An attempt is made to study
the level of organizational commitment because of presence of opportunities for personal and
professional growth, policies to balance Work Life and employee empowerment. The data was
collected from six affiliated colleges of Devi Ahilya Vishwavidyalaya. The result of 82 respondents
revealed that there is effect of gender and age on the level of organizational commitment whereas
there is no effect of marital status, Work experience and qualification on the level of organizational
commitment. It is also found that male have high organizational commitment as compared to
that of female. Higher the age group, high is the level of commitment. It is also found that there
is positive correlation between opportunities for Personal and Professional Growth, Work Life
Policies, Empowerment Practices with organizational commitment and Organizational
commitment has a positive relation with Organization Citizenship Behaviour.
Keywords: Training and Development, Work Life Policies, Empowerment Practices,
Organizational Commitment, Organizational Citizenship Behaviour.
INTRODUCTION
INTRODUCTION
Organizational Citizenship Behaviour (OCB) has gained much academic attention since
its inception. The concept was first pioneered in late 1980s by Dennis Organ. According
to Organ (1988), Organizational Citizenship Behaviours is “individual behaviour that is
discretionary, not directly or explicitly recognized by the formal reward system, and that in
the aggregate promotes the effective functioning of the organization”. In simple terms, it
explains actions in which employees are willing to go beyond their specified job roles.
CONCEPTUAL FRAMEWORK
The conceptual framework for the research is built on the following perspectives.
Organizational Commitment
Out of many causes for OCB, Organizational Commitment has been explained as a predictor
of OCB (Meyer, Stanly, Herscovitch & Topolnytsky, 2002). A study Mowday et al (1982)
revealed that committed employees are willing to give something of themselves in order to
contribute to the interest of the organization. Employees who are highly committed perceive
their work roles more broadly which increases employees’ motivation to reveal OCB
behaviours.
Similar to OCB, there are many factors which can lead to high degree of commitment if
properly engaged. Greer (2008) in his book on Strategic Human Resource Management
has addressed many considerations on investment practices for Human Resources for example,
Training and Development, Retention Practices etc. Many studies have been conducted to
identify factors involved in the development of organizational commitment. Research has
shown that commitment has been related to personal characteristics such as age, length of
service, marital status, education (Mathieu & Zajac, 1990; Luthans, McCaul, & Dodd,
1985; John & Taylor, 1999; Glisson & Durick, 1988). Commitment has also been found
to be related to job characteristics such as task autonomy, feedback system, job challenge,
A Study on Organizational Citizenship Behaviour 881
job security, opportunities for promotion (Dunham, Grube, & Castaneda, 1994; Hutichison
& Garstka, 1996; Yousef, 1998; Meyer, Irving, & Allen, 1998; Gaertner & Nollen, 1989).
Empowerment Practices
Empowerment can be defined as the authority of subordinates to decide and act. (Mills
et al 1995). In order to maintain effectiveness and competitiveness, organizations need the
roles of employees to be redesigned in a way that they perform these roles intelligently,
creatively and with commitment rather than just discharging their duties. Empowerment
practices are implemented with the expectation of building employee commitment,
882 Dynamics of Innovative Practices in Management
RESEARCH METHODOLOGY
The universe of the study is academic staff of affiliated colleges of Indore city. Over all 110
questionnaire were distributed by convenient sampling method out of which 82 were selected
for the study with a response rate of 75 %.The data collected with the help of questionnaire
were coded, tabulated and suitable statistical tools such as percentages, mean score, t test,
ANOVA, correlation and regression were calculated. The demographics consider in this
study are work experience, qualification, marital status, gender and age. For the study a
questionnaire was developed which consists of five variables viz.; Training and Development
opportunities, Work life Policies, Empowerment Practices, Organizational Commitment
and Organizational Citizenship Behaviour. A scale defined in the study of Ayesha Noor
(2009) was used to measure the five variables.
DATA ANAL
DAT YSIS
ANALYSIS
Respondent’s Profile
It can be seen from Table in the appendix that 54.9 percent of the respondents are male
whereas 45.1 percent are female. A large number (45.1percent) of respondents were in the
category of 30 to 40 years of age which implies that there are many young professionals in
the field of education. 26. 8 percent of respondents belonged to the age category of 40 to
A Study on Organizational Citizenship Behaviour 883
50 years. 11 percent of the respondents are of more than 50 years of age. And 17.1 percent
of the respondents are in the age group of 20 to 30 years. It can be evidenced from the table
that majority of respondents that is 87.8 percent of respondents are married and
12.2 percent of the respondents are unmarried. Regarding highest qualification, 67.1 percent
have completed their masters degree, 22 percent of respondents have done doctorate and
11 percent of respondents have done M. Phil. 48.8 percent of respondents are having
income in the income bracket of ` 21, 000 to ` 30, 000. Only 4.9 percent of respondents
are having income less than ` 10, 000. It is also observed from the table that highest 58.5%
of the respondents have more than 5 years of work experience with the organization. 17.1
percent of respondents have 3 to 5 years of experience, whereas 8.5 percent of respondents
have less than 1 year of experience with the institute.
Based on the study objectives, following data analysis is made.
Regression
ANOVA (b)
COEFFICIENTS (a)
ANOVA(b)
COEFFICIENTS(a)
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A Study on Organizational Citizenship Behaviour 887
APPENDIX
Category Count %
Age 20 to 30 yrs 14 17.1
30 to 40 yrs 37 45.1
40 to 50 yrs 22 26.8
above 50 yrs 9 11.0
Gender Male 45 54.9
Female 37 45.1
Marital Status Married 72 87.8
Unmarried 10 12.2
Highest Qualification Masters 55 67.1
M.Phil 9 11.0
Doctoral 18 22.0
Work Experience with the Institute Less Than 1 yr 7 8.5
1 to 3 yrs 13 15.9
3 to 5 yrs 14 17.1
More than 5 yrs 48 58.5
Income Per Month Less Than ` 10, 000 4 4.9
` 11,000- ` 20,000 24 29.3
` 21,000-` 30,000 40 48.8
` 31,000-` 40,000 10 12.2
More than ` 40,000 4 4.9
Contd...
**
*
888 Dynamics of Innovative Practices in Management