|
The
Balanced Scorecard: An Indian Perspective
--
Roopali
Batra
With
the passage of time, new inventions, innovations and improvements
emerge, overcoming the drawbacks of the old systems. In the
present era of liberalization, globalization and privatization,
the business environments, financial markets, financial instruments
and products have changed drastically. The structural changes
and emerging trends associated with the new open regime, have
rendered the traditional performance measures like ROI, Residual
Income, EVA, etc, which concentrate only on financial performance
(ignoring the nonfinancial aspect), ineffective. The drawbacks
associated with such traditional measures have led to the
emergence of a new innovative tool of performance managementThe
Balanced Scorecard (BSC), which was first developed at Analog
Devices Inc., a mid-sized semiconductor company, during 1986-92
and was later popularized by Robert S Kaplan and David P Norton
as an Integrated Performance Management System for turning
strategy into action, combining both financial and nonfinancial
performance measures. However, till now, very few people in
the corporate world actually know how to implement this strategic
tool of performance management. It has been applied successfully
only in a very few companies, in a very limited manner, and,
that too, mostly outside India. The paper aims at gaining
an insight into the concept of BSC, studying its superiority
over other traditional performance measures like ROI, EVA,
etc., and its successful implementation in a few reputed Indian
companies. It throws light on Indian companies like Philips
Electronics, TISCO and Tata Motors, which have successfully
implemented the balanced scorecard.
©
2006 IUP . All Rights Reserved.
Public
Sector Players in Non-life Insurance: Will They Survive?
--
Raghbir
Singh and Arunesh Garg
The
Indian insurance market was thrown open to private players
in the year 1999. The liberalized Indian insurance market
has seen the entry of a number of private non-life insurance
players. Private players have been able to capture a significant
market share in the non-life insurance market. It is firmly
believed that ultimately, most of the non-life insurance market
will be taken over by private sector players, and public sector
players will have to face a tough time. The leader in non-life
insurance in the private sector is ICICI Lombard, which in
2004-05, had underwritten a premium of Rs. 873.87 cr. None
of the private sector players, except ICICI Lombard and Bajaj
Allianz, has been able to cross a figure of Rs. 500 cr. Prior
to liberalization, the contribution of public sector players
in the growth of non-life insurance sector was very less.
But, after the liberalization of insurance sector, the growth
rate per annum has increased gradually. Hence, the declining
market share of public sector players should not be taken
as an erosion of their business levels. Public sector companies
have to leverage upon their strengths to give a tough fight
to the private sector players.
©
2006 IUP . All Rights Reserved.
Workplace
Literacy: An Empirical Study
--
N
Rajagopal and George Koshy
Workplace
literacy refers to those basic and generic skills that all
employees need at work, which include reading, writing, speaking,
math problem-solving, etc. A more conceptual framework was
given by the International Adult Literacy survey (IALS, 1998),
which defines three distinct types of literacyprose, document
and quantitative literacy. A good knowledge on these definitely
improves the work efficiency of the employees and thereby,
leads to organizational development. This study, which aims
to find empirical evidence on basic workplace skills, was
conducted among the employees of VST Tillers Tractors Ltd,
Bangalore, with a sample of about 60 employees.
©
2006 IUP . All Rights Reserved.
Economic
Value-added: An Appropriate Performance Measure in
the Indian Automobile Industry
--
Ali
M Ghanbari and Narges Sarlak
Maximizing
shareholders' value is fast becoming the new corporate standard
in India. Economic Value-added (EVA) is an appropriate performance
measure which evaluates the manner in which managerial actions
affect shareholders' value. EVA is a tool for identifying
whether the management of the company has created wealth or
destroyed it. This study empirically reviews the trend of
EVA of Indian automobile companies. The results indicate that
there is a significant increasing trend in EVA during the
period of study and the firms in the automobile industry are
moving towards the improvement of their firms' value.
©
2006 IUP . All Rights Reserved.
Untapped
Potential of Technical People in the Entertainment Industry
--
Tarang
Vaish
Entertainment
never had it so big in India. The dynamics of the entertainment
market have changed due to an increase in the disposable incomes,
and less time to spare. As television grows in size and stature,
so do production houses. Any growing industry is an avenue
to generate employment. Is this true for the high skill-oriented
film and television industry? This paper makes an attempt
to determine whether an exponential increase in revenue leads
to an increase in employment opportunities.
©
2006 IUP . All Rights Reserved.
Definition,
Identification and Classification of Stakeholders: Literature
Review
--
Shashank
J Shah and A Sudhir Bhaskar
The
scams and scandals across the globe and the deteriorating
moral standards within business organizations have highlighted
the need for a change in approach towards the very purpose
of business. Keeping this in mind, there is a need to identify
a comprehensive and holistic approach to corporate management
which brings benefits and ensures welfare of all the concerned
constituents. This was led to the emergence of the concept,
`Stakeholder Management', which is comprehensive, and has
a multidisciplinary, analytical applicability and multidimensional
approach. It has as much relevance in the social sectors as
it has in the corporate sectors. This paper is based on a
preliminary literature review done in the area of Corporate
Stakeholder Management and makes an attempt to highlight three
major aspects relating to this concept. It highlights the
various definitions and terminologies associated with this
concept; gives the criteria for identification of important
organizational stakeholders and highlights the different classifications
of organizational stakeholders as proposed by a number of
researchers and scholars. At the end of the study, certain
gaps which exist in the existing literature as regards certain
areas wherein further research work can be undertaken, have
been mentioned.
©
2006 IUP . All Rights Reserved.
|
