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The IUP Journal of Entrepreneurship Development

June'17
Articles

Understanding the Entrepreneurial Intentions of the Indian Millennials: A Pilot Study

--K Satyalakshmi

Millennials are considered the most entrepreneurial generation among the workforce. The millennials are not merely confined to traditional career paths; they look for innovative ways to combine profit and purpose as illustrated by concepts like social entrepreneurship. Given the unique traits and characteristics of this generation, understanding and predicting entrepreneurial intentions among millennials will go a long way in facilitating new venture creation and start-up culture in the country. The paper is based on Kruegerís view that entrepreneurs are not born out of luck or the right opportunity. Instead, entrepreneurship should be regarded as a result of planned, deliberate behavior. For definitive results, the study of factors that lead millennials towards entrepreneurship must be rooted in theory-driven models. Two such models are the Theory of Planned Behavior and the Theory of Entrepreneurial Events. An integrated approach using both the models has been used in the Indian context to understand the entrepreneurial intentions of millennials. A pilot study has been conducted on a group of 60 millennials to understand their entrepreneurial intentions using the questionnaire method. The findings from the study will be used to determine the scope and nature of a full-fledged study on the entrepreneurial intentions of the Indian millennials.

Entrepreneurial Perceptions Among the Expatriate Graduate Students in the UAE: An Empirical Study

--Indranil Bose and Peter Mugambi

According to a study conducted by Global Entrepreneurship Monitor (GEM) in 2015, UAE is emerging at the average rate of 4.1% as the attractive destination for small and medium scale start-up investments in the field of retail, education, restaurant, tourism, software services, etc. The study further revealed that the concept is fast catching up among the local population and the expatriates living in this country. The present research attempts to evaluate the perceptions of the expatriate students pursuing graduate studies in two major disciplines, namely, business and engineering, at eight institutions located at three EmiratesóDubai, Sharjah and Ras Al Khaimah. For the purpose of the study, a sample of 160 students was randomly chosen and a structured questionnaire, designed exclusively for the purpose of the present study, was administered to collect data from them. The feedback collected through the questionnaire was later analyzed through standard statistical tools. The findings reveal that curriculum, training environment and family support play an important role in promoting entrepreneurship among the expatriate graduate and postgraduate students of UAE.

The Efficacy of Product Strategy in the Formulation of Marketing Strategy in Small Scale Industries

--Shweta Sharma

Product strategy is a marketing plan for a product, based on the characteristics of the target market, market share objectives, desired product positioning within the market, and profit objectives. Strategic plans for a product are based on decisions regarding the four Pís (product, place, price, and promotion), financial targets and budgets, and tactical plans. Product strategy helps in the allocation of resources. The present paper analyzes the marketing strategy of small scale industries in Himachal Pradesh in terms of the product strategy employed.

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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 bankís 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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