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The IUP Journal of Entrepreneurship Development

Jun'15
Articles

Strategic Thinking as a Differentiator in Entrepreneurial Cognition

--Koushik Dutta

This research draws from the extant literature to identify the individual components of strategic thinking, a construct, and uses established measures for each of the components to investigate if entrepreneurs with higher levels of performance possess greater ability for strategic thinking. The strategic thinking questionnaire, a self-report instrument containing 21 questions and measuring three components—systems thinking, reframing, and reflection— (based on factor analysis) is administered to the people who provide mentoring support to new entrepreneurs. Multivariate analysis of variance has been used to test the differences among the two factors—status (entrepreneur vs. professional) and performance (high vs. low)—with respect to the three components in the questionnaire. The findings show that strategic thinking is an intrinsic characteristic of high performing entrepreneurs with respect to all three dimensions. Furthermore, high performing entrepreneurs evince greater ability for strategic thinking than high performing professionals. The study provides practitioners and researchers a framework of strategic thinking for identifying potential high performing entrepreneurs.

© 2015 IUP. All Rights Reserved.

Promoting Youth Entrepreneurship in India: Perceptions and Suggestions

--Revathy Rajasekaran, S Chinnathai and T Ramadevi

Entrepreneurship is the key driver of the country’s economy. It is one of the best means for triggering economic and social development in developing countries like India. It provides employment to huge mass of people and also creates wealth for nation. India is the nation known for its youth population which is considered as its greatest asset, and at the same time, the biggest threat is youth unemployment. Hence, developing entrepreneurial skills among youth is more important for the growth of Indian economy. But surprisingly, youth is attracted less towards entrepreneurship as compared to other professions. This paper focuses on analyzing the entrepreneurial traits in youth and the socioeconomic factors influencing youth entrepreneurship. The paper helps in finding ways for promoting youth entrepreneurship and boosting the growth of the Indian economy as well. The research concludes that the potential of Indian youth is huge which should be properly harnessed and they should be properly channeled to be involved in entrepreneurship with ample support and encouragement from the family, society, government and educational institutions.

© 2015 IUP. All Rights Reserved.

Growth Prospects of Retail Franchising Business in India

--Reetu Mehta and Rajiv Kaushik

Franchising in India is growing at a very fast rate and becoming a popular business model. Franchising, a form of entrepreneurship, could be a growth engine for the Indian economy in the coming years. The growing market has attracted foreign investors and India has become an important investment destination for the global retail chains. Globalization, liberalization and privatization have particularly changed retailing and resulted in the emergence of a new environment suiting consumers’ changed attitude and purchasing practices. India is the second most attractive retail destination globally among the 30 emergent markets. The present paper makes an attempt to study the growth and prospects of retail franchising in India.

© 2015 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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