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2769 items in total found

Working Papers | 2004

Community at the Core: A Study of Sarvodaya Nano Finance Limited

Akhileshwar Pathak and Sriram M S

The paper traces the evolution of Sarvodaya Nano Finance Limited (SNFL). At the outset we explore the background of SNFL, the motivation for the promoters to set up the organisation and how it has grown from the time it was taken over by the community trusts promoted by ASSEFA. As a part of the study, we examine the unique legal structure set up for federating the small SHGs that were widely spread out in the areas of its operation. The idea of federating the SHGs was to leverage the dispersed savings and interest earned on the initial donor resources that were made available to the SHGs at their early stages. The aggregation of these dispersed resources into SNFL enables the women SHGs to mobilise funds from commercial banks and specialised MFI lenders, for an accelerated growth of the movement. The paper examines the rationale for having this structure, its vulnerabilities and the possibilities for growth within the given structure. We argue that this is not a structure that can be replicated easily. We also argue that it cannot grow aggressively in the long run, unless some basic design changes are made. The paper also discusses the basic question on how to structure resources that are given by the donor community for the larger benefit of the poor; and when to bring in the individual stakes of the beneficiaries if one were to promote long lasting institutions. The paper also raises critical questions on governance and management. While appreciating the impressive result achieved by ASSEFA and BASIX in getting a community owned professionally managed institution into being, it also raises questions on whether there are inbuilt mechanisms of carrying forward this effectively in future-given the structuring of capital and rights of each of the constituents.

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Working Papers | 2004

Disputes and dispute resolution: the effect of union density on employee intention to quit-the Indian scenario

Rai Himanshu

A review of the existing literature suggests that employees in unionized workplaces have significantly more voice mechanisms present than in non-unionized workplaces. In India, historically, the trade unions have played the role of an agent of social and economic changes, protecting and enhancing the interest of its members and trying to squeeze more and more out of managements through bargaining or conflict. Unions protect workers directly from arbitrary discipline while providing management with a means of managing the work force that does not call on the use of overt sanctions since industrial action performed an additional voice function. It is observed that meaningful and lasting employee participation occurs only when the union has sufficient power to induce the management to forgo some of its traditional prerogatives; the union and management share a vision of how participation could serve the interests of both the parties; and when the union has substantial institutional security. Presence of a powerful collective bargaining machinery and proactive communication between the management and the unions not only minimises the grievances but also promotes healthy industrial relations. Workers have a reduced capacity to initiate issues and articulate grievances in the non-unionized workplaces and they enjoy comparatively less benefits than their unionized counterparts. While workers joined unions because they thought unions could protect them against victimization, secure the wage increases, and ensure job security and improved conditions of work, on the other hand, in the absence of unions, employees may not raise disputes because of fear of victimization, fear of being branded disloyal to the organization, and fear of reprisals by the management. Based on the literature review and analysis, a framework linking union density, employee prolificacy to raise disputes, management propensity to make decisions unilaterally, and workers intention to quit has been suggested.

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Working Papers | 2004

The battle of sexes – Ingratiation, gender and LMX

Rai Himanshu

The hypothesis that subordinate ingratiation and subordinate gender will interact to influence LMX quality, such that ingratiation will have a stronger positive impact on LMX relationships for female subordinates than those for male subordinates was tested with a sample of employees (N=164) working in a large organization in Eastern India. Evidence in support of the hypothesis was found. The implications of this result have been discussed.

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Working Papers | 2004

Marketing of Indian Organic Products: Status, Issues, and Prospects

Sukhpal Singh

Organic farm production and trade has emerged as an important sector in India as in other parts of the developing world, and is seen as an important strategy of facilitating sustainable development. This paper locates the rationale for organic farming and trade in the problems of conventional farming and trade practices, both international and domestic, and documents the Indian experience in organic production and trade. It explores the main issues in this sector and discusses strategies for its better performance from a marketing and competitiveness perspective.

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Working Papers | 2004

Mathematical Modeling for Demurrage Reduction in Coal Transportation for an Indian Thermal Power Plant

Bhatnagar Amit, Gupta Ritesh, Pappu Sriharsha, and Goutam Dutta

Competitive pressures on power plants have seen them attempting to reduce their operating expenses for profitable operations. In India, the plants use wagons of the Indian Railways to transport coal from the mines (in case of domestic coal) or from the ports (in case of imported coal). Once these loaded railway wagons have reached the power plant, they need to be unloaded and released within a stipulated time frame. If there is any delay beyond the stipulated time, the power plant has to pay penalty cost to the Indian Railways. In this paper, we describe an analysis of the underlying causes behind these delays. We use correlation analysis, queuing theory and simulation to mathematically model the coal arrival process in the company. The recommendation suggested by the study is currently under implementation.

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Working Papers | 2004

A Grounded Exploration of Sales and Distribution Channel Structures in Thirteen Industries in India Leading to a Classification Scheme

Prathap Oburai and Baker Michael J

Innovation is a fundamental virtue of marketing. In this paper, a case is made to promote the use of innovative and novel combinations of research methodologies to derive new insights of business phenomena. This study is an attempt to understand and explain the sales and distribution channel structures in thirteen different industries in India. The investigation adopted a mix of case research and grounded theoretic research methodologies in exploring the subject under scrutiny. The study offers a classification scheme for grouping marketing channels into homogenous clusters based on similarity/dissimilarity using multivariate multidimensional mapping techniques. This scheme offers to explain the variety found in structures and suggests alternative channel possibilities. Such a scheme can be used in formulating marketing strategies and in deciding upon operational issues as well. While the main setting of the reported findings is Indian, the findings may prove to be useful beyond the national setting. Usual disclaimers associated with qualitative research methodology (Gummesson 1988) apply in this case concerning the generalisability and validity of the findings. This paper's contribution is not as much in offering a schema as it is in suggesting an analytical plan/process that helps in visualising structures and associated strategies de novo.

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Working Papers | 2004

Privatisation in China: softly, softly does it

T. T. Ram Mohan

India's halting attempts at privatisation and its preference, for the most part, for disinvestment have been roundly criticised by many as being inadequate. A more aggressive privatisation drive, it is contended, would make for superior economic performance. In popular discourse, China's privatisation efforts are often compared favourably with India's. This paper examines China's record of privatisation to see whether it accords with popular perceptions. The record shows that China has been proceeded cautiously in its privatisation efforts. It has privatised-that is, sold off to private owners- only the smaller SOEs. The state retains control over the larger SOEs that dominate industrial output and profits. In respect of these, China has opted for gradual disinvestment with disinvested shares residing mostly with state-owned entities. Over a long period, China has pushed through reforms of SOEs, including conferment of greater autonomy on enterprises and introduction of incentives for workers and managers. The empirical evidence is that performance at SOEs has improved consequent to these reforms. It could be argued that full-blooded privatisation might have produced even better results. However, given the possible implications in terms of job losses as well as the absence of effective governance mechanisms in China's underdeveloped capital market. China's rulers may well have been justified in hastening slowly with privatisation.

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Working Papers | 2004

Examination of the Credit Channel of Monetary Transmission in India: Results from Response of Commercial Banks' Balance Sheet to a Monetary Policy Shock

Vineet Virmani

In this study I present some evidence on the credit channel of monetary transmission in India. Using the set up of Bernanke and Blinder (1992) it is found that loans, investments and deposits of commercial banking system respond significantly to a monetary policy shock. Results to a positive shock to monetary base are as expected. Investments respond almost immediately and then taper whereas deposits permanently settle at a higher level. Loans respond more slowly and are seen to move contemporaneously with output after a lag of 8-12 months.

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Working Papers | 2004

A Re-look at the Long-Run Stability of the Money Multiplier in India

Vineet Virmani

Results on long-run stability of M1 and M3 money multipliers in India are presented after the BoP crisis. Allowing for in-sample regime switching it is found that M3 money multiplier can be characterized by a one-time regime shift around the beginning of 1997, the time when money markets reform first begun in a big way, with issuance of ad hoc 14-day on tap T-Bills giving way to Ways and Means Advances. Results on the stability of M1 multiplier are less clear and relationship, if it exists, is statistically weak. Although evidence from CUSUM-SQ tests and recent (more powerful) unit root tests suggests that M1 and adjusted monetary base are cointegrated.

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Working Papers | 2004

A Finite Horizon Inventory Model: An Operational Framework

N. Ravichandran

We present a simulation based decision support system to decide the inventory ordering policy in the context of a single commodity, multi pack, and finite horizon situation. The multiple objectives include (a) Minimizing the end of the season inventory, (b) Maximizing the operating profit, (c) Minimizing the peak working capital requirements during the season. Stochastic demand and positive lead time add to the complexity of the problem context. In addition multiple partners in the supply chain with distinct and conflicting set of objectives necessitate the need for a formal approach. The motivation for this model is based on a real life situation. The model addresses the decision choices faced by the distributor in a specific logistics chain. In this chain, a typical distributor has to balance between the stochastic nature of the demand and the attractive nature of financial incentives (order quantity based) proposed by the manufacturer. The problem can be formulated as a multi-period dynamic programming problem with stochastic demand with an objective to optimize the expected operating profit, subject to specific constraints on working capital requirement, service level, order fill rate and end of the season inventory. Such a formulation is hard to solve and does not lend itself to analyze several ordering policies. Based on simulation experiments, we propose an ordering policy which optimizes the overall objectives of supply chain partners and hence demonstrated the possibility of jointly managing the uncertain demand by supply chain partners. The model is simple and easy to use. It is implemented by using spreadsheet. It provides adequate flexibility to conduct what-if analysis. The model has a potential to be useful in a wide range of situations.

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