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3894 items in total found

Working Papers | 1987

A Project is a Compound - Not a Mixture: Conceptual Problems in Valuation

Ragunathan V and Srinivasan G

There is considerable literature in the field of finance concerning the valuation of negative cash flows. Consequently, it is widely held that a project should be valued by valuing each component of the project's cash inflows and outflows separately, either by discounting the cash flowing at appropriate RADRs or by using the certainty equivalent approach. This paper discusses the implicit inadequacies in using the above approach for project evaluation and recommends valuing the Net Cash Flow of the project either by using a single RADR or using the certainty equivalent framework.

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Working Papers | 1987

Values, Design and Development of Strategic Organizations

Garg Pulin K and Parikh Indira J

This paper explores the connotations of concepts of social development, Organizations and values in the Indian society. Social Development has so many meanings that no coherent action seems to emerge. The Indian scene, in recent decades, is also animated by an unprecedented effloresce of all varieties of organizations : governmental, non-governmental and private voluntary ones. Some of these are definitely engaged in social development. These organizations tend to operate more as structures held together by leaders with charisma who good, cajole, tempt, reward and punish the organization members for producing outputs and results. A fully functioning organization involves two modalities-the institutional and structural, with their support systems. The institutional modality (representing coherence of philosophy, mission, and direction) requires sentient systems to sustain the process of meaning-making in organization. The structural modality (representing the congruence of concepts of business, strategy goals, etc.) requires management and administrative systems to make organizations functionally effective. In the second section, the paper provides a brief narrative on the values (normative, phenomenological, and existential) that get internalized in organizations through various mechanisms and interfaces. Thereafter, a comparative analysis of the different ethos (Indian and western) at inter-play in Indian organizations is provided. These illustrations highlight the cultural context of Indian organizations wherein both the ethos and the design are neither congruent nor convergent with the values operative in role taking processes. Hence, greater ingenuity, innovativeness and adaptiveness are needed for designing strategic organizations, Particularly for social development. It is necessary to identify the institutions needed to foster the sentient-investment of the community for initiating new organizations. Furthermore, there is a need for creating institutions of debriefing to create a shared, concrete concept of organizational reality in terms of demands and policies. The organizational model being outlined in our paper endeavours to harmoniously blend the value considerations and structural exigencies in the design of developmental organizations.

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Working Papers | 1987

Role and Conduct of Monetary Policy

Gupta G S

The paper contains the text of the lecture delivered by the author at a seminar organized by the Department of Economics, M.S.University, Baroda under its UGC Special Assistance Programme during December 20-21, 1986. It highlights the state of the art with regard to the role and conduct of monetary policy, and throws some light on this aspect for India. In particular, it argues that monetary policy is significant not only with regard to the price level and in the long-run, but also with respect to real GNP and in the short-run. Further, it supports whole-heartedly many of the recommendations of the Chakravarty Committee on the way the monetary policy should be conducted in India.

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Working Papers | 1986

Transient Analysis of Multiple Unit Reliability Systems

Sharma O P, N. Ravichandran, and Dass J

A general Markovian model representing several multiple unit redundant repairable system is proposed and it's transient behaviour is studied. Specifically, for multiple unit reliability system the reliability and availability functions are derived in an explicit form for the transient case. The stationary availability and mean time to system failure are deduced from the main results as special cases.

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Working Papers | 1986

Training Functions in India

Saiyadain M S

This is a state-or-art survey of the training functions in India. Data was collected from 49 organizations varying in size, turnover, product, technology, sector and geographic location. Major findings suggest one-third of the organizations have separate training departments manned by professionally trained managers. In two-third of the cases training functions are manned by those who do not have formal qualification for training functions. The training infrastructure is nominal and a very small portion (.017%) of the total budget of human resources is spent on training. Most organizations identify training needs through appraisal reports. More than two-third organizations have formal induction training, organize in-company training programmes and sponsor many more managers than supervisors and workers to external training programmes. Training feedback is taken seriously by most of the organizations.

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Working Papers | 1986

Contributions to Judgement and Decision

Singh Ramadhar

This paper presents an overview of the theoretical, methodological, and applied contributions that the author's research program on prediction of performance has made to the literature on judgement and decision. It is shown that the rules people employ to combine information about motivation and ability in prediction of performance depend upon nature and difficulty of task as well as age, culture, and role of the judges. Also, subjects have separate initial opinions for cognitively distinct units, and they make imputations about unavailable information. Results from studies of school teachers and managers further disclosed that decision tasks have high construct validity and so they may be useful for selection and training purposes. New directions, for further research in judgment and decision are also discussed.

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Working Papers | 1986

Ecology, Market Forces and Design of Resource Delivery Systems: Socio-Ecological Perspective

Anil K. Gupta

Neglect of Ecological (i.e. edaphic, climatic and natural resource endowments besides man-biotic interactions) variables in organizational theory literature in west is understandable due to near complete subsumption of ecological forces by market forces. Such a neglect in developing agrarian societies is difficult to understand. The ecological forces shape the evolution of market forces in such societies. Any theory of organizations to be socially effective must be preceded by a theory of environments. The socio-ecological paradigm relying on interactions between four-S (space, season, sector and social stratification) provides one way of attempting unambiguous specification of organizations environments. Examples from various product, service and banking organizations are used to advance the above concept. There is a need for studying match or mismatch between portfolios of organizations with portfolio of economic enterprises evolved by different classes of rural producers in a historical context. The development is the process of reducing economic disparities, widening of individual decision making choices and extending time frame for appraising investment choices of the poor. The design and dynamics of developmental organizations can manifest these concerns best by explicit recognition of the challenges inherent in the transition of 'needs' poor have into demand they can articulate. The excessive reliance on market forces or voluntary organizations can not help bridge the regional, sectoral or social imbalances. The 'is' should not be allowed to become 'ought'. Values of researchers would need to be made explicit in this regard. Study of social articulation process particularly in backward regions endowed with risky ecologies will provide design avenues for socially responsive public and private organizations. The paper provides some arguments for reducing excessive reliance on study of intra-organizational variables in gearing organization towards the poor clients who can't protest, pester or persuade the researcher to do otherwise. At least at present.

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Working Papers | 1986

Creating Demand Systems in Drought Prone Regions: Random Thoughts and Personal Field Notes from a Group Action-Research Project-Journal-II

Anil K. Gupta

Indian Institute of Management, Ahmedabad had initiated an action-research project in three districts with similar ecological and social stress but dissimilar administrative system. A group of faculty members from Centre for Management in Agriculture and Public Systems Group pursued the idea of creation of demand groups of poor by the local bureaucracy on itself. The hope was that generation of this demand might help in counteracting the demand from vested interests resulting in unfair distribution of resources, information and services. The first journal of this project was written by late Prof. Ravi J. Mathai and the draft (written in 1983) reported here was expected to be the second journal. However, it never could be discussed in the group at length and hence remains author's individual understanding and account of a group action-research endeavour. It is hoped that various hypothesis which were generated might provoke more comprehensive, sustained and meaningful explorations by other colleagues. The ethical issues in initiating an endeavour of this sort without taking it to its logical conclusions will be discussed separately.

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Working Papers | 1986

Demand-Supply Management of Forest Based Cellulosic Raw Materials for the Paper Industry in India

Gupta Tirath

The study focuses on bamboo and hardwoods which are the most important cellulosic raw materials for the paper and paperboards industry in India. There are perceptions of acute scarcities of these goods caused by rapid growth of the industry, competing demands, spurt of through regarding conflicts between environmental quality and production of tangible goods, inadequate management of natural wealth in the form of forest land, etc. Feasibilities of a few conventional and unconventional measures to enhance the productivity of common property wastelands in and outside the regular forest areas have been assessed. These include provision of additional approach roads and bridges, reduction of waste in harvesting, marginal technological changes such as use of portable mini chippers, improved silvicultural and biological management of natural forest areas, broader interpretation of the term plantations to able to harness the established root stock of hardy tree species, etc. It has been reasoned that productivity of two-thirds of India's forest land can be substantially enhanced within 8-10 years without making intensive use of capital and trained manpower, and this is the surest way to resolve the conflict between industrial and other uses of the forest produce, to obviate the need for conscious demand management, and to manage and enhance the quality of biophysical environment.

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Working Papers | 1986

Pricing Policy of Forest Based Cellulosic Raw Materials for the Paper Industry in India

Gupta Tirath

The state governments and the paper making companies have been entering into long term agreements which specify duration of supply of agreed quantities of bamboo and pulpwood, royalty rates (note price), extent and frequency of revision in royalty rates, etc. the royalty rates have been extremely low mainly because these products from natural forests were trated as free goods. Though the rates have been enhanced by 300 to 400 per cent during the last 10 years, yet the principles for determining them have not been specified in a logical and accepted framework. On the contrary, conscious and unconscious attempts have been made at evading the issues. In this paper, logic and practicability of a number of suggested bases for pricing (not royalty) have been assessed. None of them can fully satisfy the concerned parties but, in the short run, a combination of past and current royalty rates, general price index, market price of comparable goods, etc. can be used for fixing administered prices of the natural forest products used by the manufacturing sector. The most viable alternative in the long run could be the cost of production from manmade plantations. The total demand for palpable materials need not be met from manmade plantations. The yield from natural forests can be substantially enhanced, and possibly at lower marginal costs. Experiences of pricing the materials from plantation crops should be available in not too distant a future, and should be usable for pricing the materials from natural forests with adjustments for differences in harvesting and handling costs, quality, etc. Pricing of outputs from industrial plantations raised by the forestry system need not necessarily equal the production costs. Adjustments on lower or higher side may have to be made to achieve wider socio-economic objectives: reduction in quantity of chemicals, power, water, consumer per unit of the industrial outputs; changes in the mix of conventional and unconventional raw materials; etc. An exercise for assigning weights to the variables can be carried out to facilitate objective policy formulation. Some of the prerequisites for that would be dispensation of current tensions between governments/forestry system and the industry and their willingness to share the quantitative and qualitative information.

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IIMA