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The IUP Journal of Entrepreneurship Development


An Empirical Study on the Factors Affecting the Success of Family Business

--Bharti Motwani

Family businesses generate wealth, offer jobs, exist for longer periods of time and thereby influence the economy significantly. People who want to build sustainable businesses face the problem of determining the factors that impact family business. This study explores the different factors affecting the success of family businesses by analyzing primary data collected through a selfstructured questionnaire designed following an extensive review of the literature on family business. The present study augments the visibility of family business research and triggers a new line of investigation.

Pushed Out or Pulled In? Self-Employment Among Indigenous People

--Onkar Nath Mishra and P S Tripathi

This paper examines the decision of indigenous people to enter self-employment with special reference to Jharkhand. The indigenous people in India, better known as scheduled tribes, are aligning themselves with the mainstream population, albeit rather slowly. They are leaving their traditional way of earning livelihood and increasingly opting for both paid and self-employment. In order to better understand this trend of increasing self-employment among indigenous population and the role that entrepreneurship can play in empowering them, the researchers conducted a quantitative survey among the self-employed people from indigenous communities in Jharkhand. The study examined various motivations behind the decision to opt for self-employment and differences in motivations amongst indigenous communities across different parts of the state. The findings suggest that people from indigenous communities choose to enter self-employment when they fail to join paid employment, especially of their choice. There was spatial difference among indigenous people when it comes to positive motivation propelling self-employment.

Nagaland: A Stride Towards Development Through MSMEs

--Chikhosale Thingo and Subhrangshu Sekhar Sarkar

Nagaland, located in the North-Eastern Region (NER) of India, is an industrially backward state. While it cannot be denied that the state has innate disadvantages, one can say that the Naga society has been highly dependent on central funding, having been designated a special category state from 1969 to recently. However, Nagaland, like the rest of NER, is a domain of unexplored natural resources which, if properly promoted and utilized, offer huge opportunities for investors and entrepreneurs. Keeping in mind its weaknesses as well as strengths and realizing the growing importance of entrepreneurship and Micro, Small and Medium Enterprises (MSMEs) towards economic development, efforts have been made to promote and encourage such activities in the state. The present paper is thus an attempt to study the initiatives taken by the central and state governments in India for the promotion of MSMEs in Nagaland.

A Qualitative Analysis of Successful Crowdfunding Campaignsfor UK-Based Ventures

--Adekorede Olufolaji and Robert A Phillips

This study set out to understand some of the key issues involved in a successful crowdfunding campaign based on interviews with founders of several UK-based businesses that had been successful at obtaining funds via different crowdfunding models. The results show that contrary to previous research, not all companies thought their personal social media presence was important for reaching investors and it seems that many investors go direct to the crowdfunding platform to browse for opportunities. The successful companies were able to match what they had to offer in terms of benefit for investors and what help and support they thought they needed with a suitable crowdfunding model. The location of the campaign was clearly a factor for some companies who were seeking to launch their campaign near what they felt to be suitable investors, although the default was to launch a campaign locally to where the company was based to appeal to local investors.



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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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