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The IUP Journal of Entrepreneurship Development


Tourism Attractiveness of Meghalaya: An Exploration of Entrepreneurial Opportunities

--Benjamin F Lyngdoh

Globally, tourism has become one of the largest and high growth economic sectors. The same is the case for India, particularly in recent years. However, the North East Region (NER) of India has a smaller share, and Meghalaya in particular has lagged behind despite the possibilities. In this study, tourism attractiveness is studied through a two-phase assessment procedure termed as situational analysis and diagnosis, which feature an interaction of tourism supply (tourism destinations and tourism infrastructure development) and tourism demand (Domestic Tourist Arrivals, DTA, Foreign Tourist Arrivals, FTA, and tourism revenue) variables. Statistically, the study applies descriptive tools, correlation and regression analysis. The study reveals that tourism attractiveness in Meghalaya depends heavily on tourism supply. However, this supply is not able to establish a stable and sustainable tourism demand. The results of the study indicate presence of entrepreneurial opportunities in Meghalaya’s tourism industry, but they are not prominent or absolute.

The Role of Gujarat Venture Finance Limited in the Development of Enterprises in Gujarat: A Study

--Bindiya Soni and P K Priyan

Venture capitalists provide capital as well as counseling to the startups at the early and expansion stages, and that is how this funding alternative differs from the others. The study attempts to examine the role of Gujarat Venture Finance Limited (GVFL) in the development of the ventures supported by it till June 2009. It covers the various aspects of support extended by GVFL such as its role as a board member in the investee companies, frequency of interaction with the investee companies, the role in the pre-investment development activities, and the satisfaction level of the entrepreneurs. It specifically compares the differences between the expected contribution before the investment and the perceived actual contribution after investment by the investee companies. The findings reveal that in a majority of the cases, GVFL has played a very active role as a board member and further most of the entrepreneurs are quite satisfied with the overall contribution made by it in the development of the venture.

Implementation of Total Quality Management in Small and Medium Enterprises: An Analysis of the Problems Based on Demographic Variables

--Raj Kumar

In a developing country like India, the entrepreneurs in small and medium enterprises face a large number of problems related to managerial skills and adequate resources for further expansion of their business. Presently, implementation of Total Quality Management (TQM) practices is another significant obstacle faced by the Indian entrepreneurs due to tough competition in the national and international markets on account of globalization. Good quality management is the need of the hour as it improves the competitiveness, effectiveness and flexibility of the organization. In this paper, an attempt has been made to explore the problems faced by the entrepreneurs of small and medium enterprises in the implementation of TQM practices. One-way ANOVA has been used to find the significant difference between the demographical variables of the entrepreneurs and impeding factors in the implementation of TQM in small and medium enterprises on a sample of 150 entrepreneurs collected from four states of North India. The findings reveal that the entrepreneurs in lower age group face these problems relatively more than the entrepreneurs in higher age group. Further, entrepreneurs having education up to technical level face these problems relatively less as compared to entrepreneurs who have education up to a lower level.

Case Study: Induben Khakhrawala: The Journey of a Woman Entrepreneur

--Vaibhav Kadia and Krutesh Patel

This study focuses on the journey of a Gujarati middle-class housewifeturned- entrepreneur, Induben Jhaveri. Belonging to a traditional Jain family, where women are generally perceived to be homemakers, Induben started her own Khakhra1 venture, which has become a trademark for women entrepreneurship. Induben, not only changed the perception of her community towards business, but also successfully rebranded Khakhra, a roasted chapati, in Gujarati culture. Changing its status of ‘the diet of the miser’, khakhra has positioned itself in the diet products market. If today we particularly talk about Amdavad, then this niche was created by Induben Khakhrawala on whom this case study is based. The study comments on the efforts of a housewife to overcome the mediocrity, invent a business model and change the way people think of women folk. It also talks about how a lot of factors, including personal such as family as well as community, helped her small business grow by gradual leaps and bounds.



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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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