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The IUP Journal of Management Research

July' 05

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Fostering Business the Bharatiya Way
Beyond the Financials: Fraud Management and Corporate Culture
Impact of TQM on Business Performance in Indian Manufacturing Companies: An Empirical Study
Smart Medical Assistance and Remedial Transactions: Community Health Management (Pharmacy Assist Module-PAM)
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Fostering Business the Bharatiya Way

- - G S Srirangarajan and Onkar Joshi

The true purpose of business can be derived from Dharma of man. The Dharma of man is to realize the Divinity within everything and to serve the Divine by serving His creation. Hence, running a business can be seen as an opportunity to serve the Divine by serving society. Business cannot be run in isolation as it depends on several stakeholders in the society for smooth functioning. Therefore, the Dharma of Business should be Stakeholder Welfare Maximization. In this context, the new business philosophy can be: "Business should not only work for bringing quality initiatives for customer satisfaction alone but also for adding value to the stakeholders, so as to have a balanced and quality give and take." The general argument put forth by businessmen isone cannot satisfy all stakeholders equally. The solution for this is: Business should follow principles of Dharma in its course of operation. To achieve this, the organization must focus predominantly on one stakeholderthe employees. If every employee of the organization follows his Dharma, it would lead to overall satisfaction of all the stakeholders. Ancient Bharatiya culture always stressed on business following the Atma Dharma which is universal and eternal. This would lead to long-term sustainable growth of business.

Article Price : Rs.50

Values and Money: A Research Practitioner's Perspective on Values for Money

- - Peter D Kinder

In social investing's infancy, critics claimed that its goal was to affect stock prices. They then hooted at the notion social investors could or would ever do so. This argument never entirely died away. It has now reappeared in a perverse form. The argument now runs that the only valid social investment criteria are those "value drivers" that affect stock price. Hence, social investment researchers should redirect their efforts towards identifying criteria material to share price, since institutional investors are or will be demanding research of this type. "Socially Responsible Investment" is the incorporation of social or ethical criteria in the investment decision-making process. Those criteria may or may not have some correlation to the share price. Indeed, social investors have insisted successfully on issue areas as different asapartheid and environmentthat they have the right to apply the criteria that lack such correlations or even have negative correlations. "Social Investment Research" consists of information on how corporations perform on issues that investors consider in the investment processin deciding whether to buy, sell or hold securities or in engaging with companies. Investors and stakeholders define the "materiality" of social research, and research organizations respond with data and analysis. To date, "materiality" in this context has centered on assuring consistency of corporate performance with stakeholder values. The application of a "materiality" standard for social research framedsolely or even primarilyin terms of share price would not serve social investors, the broader classes of stakeholders or the institutions that do business or interact with them. Further, it would put social research organizations in a position to compete as stock pickers with the money managers who now buy their research. Social research organizations will continue to focus on what their constituents regard as material.

Ethical Functions of the Executive and Governance: The Ethical Environment in the Public and Private Domains

- - Esa Käyhkö

The basic idea of this paper is to examine preconditions for ethical conduct and content in different public and private organizations, and to conceptualize the ethical functions that the executive and governance have. The basic elements of the discussion about ethical environment in public and private domains are in relation to the organization, the powers and the ethics of a public and private authority. Formal organization of accountability, such as a hierarchical organizational structure and legal responsibility, does not, however, constitute a sufficiently solid basis for the realization of ethical environment and conduct. In addition, we need accountability and ethics as a virtue, which in turn is a more comprehensive conceptual entity than that referred to by ethical accountability, for example. In practice, this means a transfer from passive accountability, such as control-oriented activity and actors, to a proactive and predictive aspect of accountability. Active accountability may be realized in the framework of a hierarchical organizational structure and management system and, therefore, it is more appropriate to talk about ethical virtues. This paper, consists of conceptual discussion about the system of authority, ethics of virtue and legitimacy. Legitimacy is one of the core concepts when conceptualizing the public and private ethics. The author also introduces his forthcoming empirical study for the years 2005-07 that will proceed to three verifying questions: 1) What type of similarities and differences can be found between private and public ethics according to empirical literature? Is it possible to develop the concept of ethics infrastructure? 2) What sort of examples can be found in a case study of Finnish organizations? Can we verify empirically the ethical functions of the executive and governance? 3) What type of global similarities and anomalies can be found regarding public and business ethics? What is the art of global and sustainable ethics? In order to study the ethical perceptions and expectations of the executive and governance, a questionnaire will be sent to about 100 public and private organizations in Finland. In addition, the researcher will interview the top management of these organizations personally.

Beyond the Financials: Fraud Management and Corporate Culture

- - Patrick Low Kim Cheng

This paper through literature review, focus group sessions and in depth interviews with several Singapore corporate leaders, discusses fraud management and its key preventive measures. While several preventive measures are highlighted, the emphasis here is on creating a strong culture with the leader, the torchbearer and setting the undertone. In short, the "heart-ware" perspectives of fraud prevention are given a special focus.

Article Price : Rs.50

Impact of TQM on Business Performance in Indian Manufacturing Companies: An Empirical Study

- - Usha Devi N

This paper reports the main findings based on the survey of ISO-9000 certified manufacturing companies, established in and around Bangalore (India), practicing TQM for the last five years. The study aims to investigate the impact of TQM on business performance in respondent companies. The results indicate that the quality of work life alone influenced the business performance to the extent of 30% and the overall impact of TQM practices on business performance is 79%, which confirms the expectation that good Quality System supported and supplemented by excellent HR practices enhances business performance.

Article Price : Rs.50

Smart Medical Assistance and Remedial Transactions: Community Health Management (Pharmacy Assist Module-PAM)

- - Raghu Guda and Neeraja Guda

This case study identifies how in a SMART SOCIETY setup outbreak of disease in the local communities can be detected early and contained efficiently with Pharmacy Assistance Modules (PAM). This case study also emphazies on how to execute Smart Medical Assistance and Remedial Transactions on an integrative platform, leveraging the connected systems of different medical facilities, pharmaceuticals and governing bodies to create a Smart Community Health Management System.

Article Price : Rs.50

Entrepreneurship in Post-Socialist Economies



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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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