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Journals >>
Management
The IUP Journal of Enterpreneurship Development
Focus

Entrepreneurship goes beyond starting a new business venture. It is about identification of business opportunity early on, marshalling the necessary resources to exploit it and reaping potential benefits out of it. Entrepreneurs do take calculated risks. They identify the unsatisfied needs of potential customers, and then create new products to cater to these needs. This issue carries two articles and a case study, which focus on the emerging entrepreneurship in India. Additionally, it presents another article that examines non-financial parameters that lead to entrepreneurial success in SMEs.

The first article, "Emergence of Small Scale Industries and Entrepreneurship in the Rural Areas of Northeastern States of India: An Analytical Approach", by Nirankar Srivastav and Rickey A J Syngkon, is an outcome of a research on the status and development of SSIs in the Northeastern states of India. This paper, supported by secondary data, provides a detailed analysis of SSIs in the NE states of India, which includes growth of SSIs since 1971, characteristics of SSIs, employment pattern, and sources and utilization of technical know-how by SSIs. Further, a comparative analysis is done on the employment and entrepreneurship profiles in rural areas with those in urban areas.

The second article, "Empowerment of Women Through Participation in Rural Development", by A K Makar and D C Kalita, focuses on the role played by Indian women in various spheres of socioeconomic life. First, it sets a context wherein the status of women development in India is analyzed. Second, it describes how women entrepreneurship and female work participation increasingly play an important role in economic development of our country.

The third article, "Entrepreneurial Success in SMEs Based on Financial and Non-Financial Parameters", by C Venkata Ramana, A Ramachandra Aryasri and D Nagayya, is based on a survey research conducted in Andhra Pradesh. The authors examine the role of four attributesIndustry Knowledge (IK), Street Smartness (SS), Tolerance for Ambiguity (TFA) and Impact of Personal Selling on Start-up Success (IPSS)in entrepreneurial success in SMEs. This paper begins with a review of literature on the measurement of non-financial parameters that are instrumental in SMEs success. This is followed by a description of methodology used in the study and discussion of the results.

The case study, "Corn Club: The Strategic Way Ahead", by Ashwini Sovani, traces the transformational growth of Monsoon Agro Bio Ltd. (MABL) from a small eatery named "Corn Club". Rahul Mhaske, the promoter of the retail eatery chain, Corn Club, identified business opportunity in the food items made out of sweet corn in India in early 2001. At that time, sweet corn was not a standard food item in India. But he took calculated risk by venturing into the business. He created awareness among the customers and slowly developed a market for corn products. Now "Corn Club" has successfully carved a niche in the processed food market in India. The case of "Corn Club" is an example of renewed entrepreneurial enthusiasm that is widely prevalent in India.

- S Senthil Kumar
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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