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The IUP Journal of Entrepreneurship Development


Enterprises’ Growth Potential in the European Union: Implications for Research and Innovation Policy

--Pietro Moncada-Paternò-Castello and Michele Cincera

One of the main objectives of the new European research and innovation policy agenda is to favor the positive demographics (creation and growth) of European Union (EU) companies operating in new/knowledge-intensive industries. These companies play an important role in shaping the dynamism of the economy’s sectoral composition, favoring the transition towards more knowledge-intensive activities and in contributing to the overall economic growth objectives and more and better jobs. But which kind of companies should be helped by policy? And how? This paper presents a literature review on the economics of research, innovation and competitiveness, focusing on the determinants for company creation and growth, and the role played by Research and Development (R&D) and innovation. It also implements a tentative simulation exercise aimed to figure out what the possible contribution of High-Growth Enterprises (HGEs) to EU job creation could be in the year 2020. Furthermore, it draws a number of policy implications to design future research and innovation support instruments targeting innovative company growth in Europe.

Managing the Innovation Space: Role of Individual Innovator

-- Ravi Shankar Saripalle, P Vijay Kumar and Rao Tatavarti

Innovation space can be envisaged 3-dimensionally—passion instilled with innovative spirit (in this dimension actors are either individuals or organizations), problem or need (individual need or society or market need), and persistency or time factor. This view provides four different unique opportunities which require special fostering. These opportunities need unique infrastructure, market, policy and capacity building. In this paper, we stress on various nuances of the opportunities that arise out of this 3-dimensional innovation space with supporting case studies, merits, demerits and recommendations. We argue that managing innovation space is much of a customized process and less of establishing common building blocks between opportunities. We also argue that individual plays a critical role in the entire innovation space. Every innovation opportunity is directly or indirectly supported by an innovative individual or a group of innovative minds. Hence, it is important to develop a platform for individuals either in terms of their education or ecosystem development.

Motivational Factors of Tribal Entrepreneurs in Handloom Clusters: A Case Study of Thenzawl, Mizoram

--Rama Ramswamy and N V R Jyoti Kumar

The North Eastern (NE) states of India have the largest concentration of handlooms in the country (more than 65% of the total looms). However, a majority (62%) of the looms in NE states are engaged in domestic production only. The weavers of Thenzawl cluster, located in Serchhip district of Mizoram, have redefined the quintessential ‘marginalized weaver’ as a strongly motivated woman entrepreneur who has transformed the role of weaving from a mere wage-earning activity or a domestic chore to a commercially viable enterprise, regardless of the number of looms owned. This paper enquires into the role of motivation in the overall process of entrepreneurship in the cluster by examining the entrepreneurial motivations such as entrepreneurial ambitions, reasons compelling entrepreneurs to enter the industry, factors facilitating their entry into entrepreneurship and whether they would like their children to continue as entrepreneurs in the same industry.



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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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