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The IUP Journal of Entrepreneurship Development
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Entrepreneurship is a significant contributor to the economic growth of a nation, so it is required to promote the entrepreneurial culture in a multiple ways. Idea generation and opportunity identification are the starting points. Many such ideas and opportunities could not have even seen the daylight due to the challenges faced by the entrepreneurs. Further, new forms of enterprises are coming up due to factors like technology, globalization, women empowerment, MSME, etc. Against this backdrop, it is imperative that the issues promoting entrepreneurship should be dealt in totality. The current issue covers some of the very pertinent challenges in a set of four papers dealing with pricing strategy of MSMEs, challenges to women entrepreneurs, and global perspective in the context of entrepreneurial issues of Iran, UK and China.

India is a price-sensitive market as consumers are highly value-seeking. The Indian organizations have been adopting pricing as a competitive element to stimulate demand. The first paper, “Pricing Strategy Adopted by Small-Scale Entrepreneurs”, by Shweta Sharma, analyzes the pricing strategies of small-scale entrepreneurs in Himachal Pradesh using data collected from 300 respondents. The study reinforces the factors that entrepreneurs need to consider in planning pricing for their products as they can significantly impact their revenues and make them competitive in the market place.

The second paper, “A Study on the Problems Faced by Women Entrepreneurs in Service Sector in Chennai”, by B N Padmaja Priyadarshini and Lalitha Ramakrishnan, discusses the issues faced by the women entrepreneurs. The authors show that despite having opportunities and necessary support systems, women require to prepare themselves to face the challenges related to work-life balance. The data collected from 100 women entrepreneurs who are members of different forums in Chennai brings out the need to improve their marketing skills and level of awareness regarding legal and tax-related business issues.

One of the clear virtues of entrepreneurship is the risk-taking ability, and previous research indicates higher risk-taking ability at young age. The third paper, “The Effect of Different Age Groups on Entrepreneurship: Evidences for Iran”, by Mohsen Mohammadi Khyareh and Reza Mazhari, studies the effect of age on entrepreneurship. The study investigates four perception determinants to evaluate the differences across age groups in explaining early-age entrepreneurship.

The last paper, “The Effectiveness of Chinese Governmental Support for Graduate Entrepreneurs vis-á-vis UK: An Analysis”, by Site Chen and Robert A Phillips, compares governmental measures of UK and China for supporting graduate entrepreneurs. In spite of the high entrepreneurial intent of young Chinese graduates, the support mechanisms are lacking or misunderstood. The paper makes recommendations to narrow this gap by comparing the governmental measures of UK and China. The authors identify that considerable measures are available in China, but the rules and regulations are complex and time-consuming which needs to be addressed.

-- Vivek Ranga
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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Entrepreneurship Development

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