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The IUP Journal of Entrepreneurship Development
Focus

Recent research studies have shown an increase in entrepreneurial activities among migrants across the world. According to a report published by the Department of Economic and Social Affairs, UN, in many countries the proportion of self-employed migrants is showing an increasing trend. Further it is observed that migrants are more likely to be entrepreneurial than natives. Self-employment provides a livelihood for migrants who are unfamiliar with language and socioeconomic conditions of the host country. Moreover, their entrepreneurial ventures play an instrumental role in integrating the economies of both host and origin countries. Host country governments can create conducive environment to promote entrepreneurship among migrants through training and access to credit facilities. These initiatives will facilitate economic growth of the host country and integration of migrants with the mainstream society. In this context, we present two research articles that focus on migrant entrepreneurship.

Saeid Abbasian and Carina Bildt in their paper, "Empowerment Through Entrepreneurship: A Tool for Integration Among Immigrant Women?", argue how entrepreneurship could lead to empowerment among immigrant women in Sweden. This paper analyses various factors which are involved in high level of unemployment among immigrant population and how entrepreneurship can facilitate their economic integration with the mainstream society. This study also examines motives behind venturing into a new business by immigrant women in Sweden. The authors have interviewed 16 migrant women to understand how entrepreneurship empowers them to better integrate themselves with the host country's society.

Luisa Mengoni in the paper, "Entrepreneurship of Young Migrants Across Mediterranean Borders", broadly examines how migration can be an effective integration mechanism among Euro-Mediterranean societies. The paper also provides an overview of actual flows of young people across the Mediterranean with particular relevance to human capital (skills and abilities) and entrepreneurial functions. The authors have done survey among the returnees of the MENA countries (Middle East and North Africa) to understand the dynamics involved. They further suggest that a well-managed migration process can contribute to optimize economic and social outcomes for both countries of origin and destination.

Maribel N Mojica, Tesfa G Gebremedhin and Peter V Schaeffer in their paper, "An Empirical Analysis of the Link Between Entrepreneurship and Economic Growth in West Virginia", have explained how West Virginia has capitalized on the entrepreneurship by creating economic value through the establishment of new or the growth of existing firms. The paper uses an endogenous growth model to determine the relationship between entrepreneurship and economic growth in West Virginia. They have found that counties with more proprietors and business start-ups exhibited higher growths in population and employment growth compared to less entrepreneurial counties.

Vuong Quan Hoang and Tran Tri Dung in their paper, "The Cultural Dimensions of the Vietnamese Private Entrepreneurship", have examined the gradual progress of entrepreneurial activities in Vietnam. Vietnam is one among those countries where traditional Confucian culture has a strong impact on business and society. The Confucian values of generational orders, hierarchy, paternalism, and loyalty have greatly influenced the Vietnamese society. The authors have analyzed how these values affect the growth of entrepreneurship in Vietnam.

The contribution by emerging market economies in the global FDI was about 13% in 2008. It is predicted that this share is bound to increase. Many business organizations from emerging marketing economies are rapidly making inroads into the global arena. They either acquire foreign brands or integrate their own brands with the global brands in their aggressive pursuit of globalization strategy. Abundant supply of manpower coupled with labor cost advantage help these companies to leverage their position in the global market. The Case Study, "Mahindra & Mahindra (B): An Emerging Global Giant?" by Vandana Jayakumar and Vara Vasanthi, presents a case of one such companyMahindra & Mahindra (M&M)which aspires to become a global player in automotive market. Initially M&M collaborated with foreign players to understand technology. Later it has developed innovative products which cater to the needs of both domestic and foreign markets. Further it acquired many companies both in India and Europe which are in automotive component manufacturing business. One of its flagship products, Scorpio, which is being currently exported to many countries, is known for its superior performance in terms of fuel efficiency among others. M&M has also successfully managed the global economic downturn through its prudent strategy. This case study further delineates the challenges that M&M will face in order to become a global company.

-- S Senthil Kumar
Consulting Editor

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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