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The IUP Journal of Entrepreneurship Development

Mar'14
Articles

Social Transformation Through Social Entrepreneurship: An Exploratory Study

--Soumendra Kumar Patra and Subash Chandra Nath

Social enterprises are the organizations which aim their efforts toward improving the general welfare of society and they apply market-based strategies to achieve a social purpose. The movement includes both non-profit and profit organizations with non-profit organizations using business models to pursue their mission and profit organizations incorporating a social agenda into their business model. The present paper addresses the factors associated with successful social entrepreneurship, particularly entrepreneurship that leads to significant changes in economic, social, cultural and technological contexts for poor and marginalized groups that lead to social transformation. The impact of social transformation on these factors is calculated by comparing the prestage and post-stage situations. Here, a scale of social development is used to measure the effectiveness and significance of social transformation. Confirmatory factor analysis is performed through AMOS to determine the goodness-of-fit of the model and its significance.

© 2014 IUP. All Rights Reserved.

Tackling Unemployment Hurdle in the Nigerian Economy: The Impact of Creative Self-Development

--Emma I Okoye, Ugochukwu J Nwoye, Justina N Obiorah and Uba Bright O

Although the government, its agencies, and other key stakeholders are aware of the relevance of entrepreneurship in enhancing and sustaining national growth and development through more job creation, and the strengthening of the nation’s industrial base, they have failed to give it the deserved attention at tertiary education level. This paper examines the significant role played by creative self-development through effective technical entrepreneurship education at the Nigerian tertiary education level towards tackling the deteriorating problem of unemployment among Nigerian graduates. Being a descriptive study, close-ended questionnaires based on 5-point Likert scale were distributed to a total of 300 respondents comprising undergraduates, lecturing staff, personnel managers, and entrepreneurs from Anambra and Lagos State, and the data generated was tested using the multiple regression techniques (a nonparametric statistical tool). The results showed that although creative selfdevelopment programs upheld by some prominent universities in Nigeria as part of their academic requirements for students, have really played a vital role in reducing the ever-increasing challenges of unemployment among their graduates, a lot of Nigerian graduates still remain unemployable because they have failed to translate their wealth of knowledge acquired into skills required by the labor market for their employment. Based on this fact, it is recommended that the government and all key players in the Nigerian tertiary education system should restructure and restrategize the entrepreneurship education programs of Nigerian universities.

© 2014 IUP. All Rights Reserved.

A Study on the Entrepreneurial Traits of Commerce Students of Arts and Science Colleges in Theni District, Tamil Nadu

--G Suresh and S Krishnamurthy

Developing entrepreneurial skills among youth is more important for the growth of an economy like India. It will create employment opportunities and increase the country’s exports, which in turn will lead to improvement in the standard of living. The important skill with regard to the development of entrepreneurs is the entrepreneurial traits. The present paper analyzes whether the entrepreneurial traits among the commerce students of Arts and Science colleges in Theni district play an important role in developing their own establishments. The study also seeks to find out if there is any relationship between socioeconomic factors and the level of entrepreneurial traits. The paper concludes that entrepreneurial traits are important factors in developing prospective entrepreneurs and creating new ventures, and the educational institutions as well as the government should lend a helping hand to the students in this regard.

© 2014 IUP. All Rights Reserved.

Case Study: Koutons Retail India Ltd.: Fight for Survival

--Kirti Dutta, Swati Singh and Smriti Singh

Koutons Retail India Ltd. (KRIL) emerged as one of the largest branded apparel retailers in a short span of time. The journey that began as an apparel manufacturer saw the company’s transition to a retailer with national presence. The company redefined the rules of retailing through its deep discounting strategy which helped it to develop a large customer base. This case study discusses some of the factors that helped KRIL emerge as a specialty retailer to the Great Indian ‘Value Seeking Class’ and also looks at the challenges faced by the company along the way.

© 2014 IUP. All Rights Reserved.

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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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