International Journal of Management, Innovation & Entrepreneurial Research, eISSN 2395-7662, Vol 1 (1) April 2015
1. ISLAMIC BANKING AND FINANCE IN INDIA: A KOSHER OR MYTH
Abstract: Islamic banking seems to be an unfamiliar concept in Indian economy. Besides having a huge potential, Islamic finance is considered to be infeasible and impractical in Indian Conventional system of banking. The search for alternatives to conventional banking in the aftermath of the global financial crisis trained the spotlights on Islamic banking in many parts of the world. Today that Islamic banking has unfortunately been misunderstood in India as a religious charitable venture restricted to the country’s Muslim community. Despite its striking growth in other parts of world such as the Middle East, South East Asia (which chiefly include Malaysia and Indonesia) and Europe, it is yet to be positioned as a realistic alternative financial system and not a religious one.
In this paper an attempt is made to understand the underlying concept of Islamic banking and finance and erode some of the major misconceptions in the same context.
Keywords: Islamic Banking, Conventional Banking, Shariah and Reserve Bank of India (RBI).
2. IMPACT OF DEMOGRAPHIC VARIABLES ON PURCHASE OF E-INSURANCE IN URBAN AREAS IN INDIA
Syed Shahid Mazhar, Anisur Rehman and Shahab Ud Din
Abstract: In this globally dynamic business scenario it is vital for any marketer to contemplate and grapple with any kind of opportunity which one can translate into an exceptionally superior service offering than his competitive counterpart. The evolution in the trend of Insurance is e-insurance. Many Insurance companies in India have their own independent websites catering mediation services at very low price. Despite lucrative offers e-insurance in India hasn’t been able to capture much attention of the public in general. The share of e-insurance in business largely depends upon consumer want, inclination, preferences and usage which in turn depends upon other demographic variables like age, gender, income occupation, education, etc.
The present study highlights the influence of demographic variables on e-insurance sector in India. It is found by the study that there is a significant impact of gender, educational qualification, income and occupation on the reason, like saving, investment, risk and protection tax benefit and children education & marriage to purchase e-insurance products.
Keywords: Online insurance, Consumer behavior, life insurance, demographic variables
3. USING AHP APPROACH, EVALUATION OF QUALITY- A CASE STUDY WITH RESPECT TO A WASHING MACHINE COMPANY
Salonee H. Sonawane and Lewlyn L.R. Rodrigues
Abstract: Supplier Evaluation is performed by companies to continuously improve quality, to mitigate risks, to reduce costs or to improve performance. Thus, it forms an important and integral function that a company carries out to remain competitive in a given market. This paper attempts to propose a model that can assist a Washing Machine Company to evaluate the quality aspect of its suppliers. This model is based on the Analytical Hierarchy Process (AHP) approach which follows the principle of Linear Weighing Model.
This paper is an attempt to give a variation to the traditional and a very common method that is widely used in many companies to evaluate the quality aspect – the quality history which is either about the percentage or parts per million of non-conformance components supplied. So this paper suggests that along with the past quality history other parameters can also largely help in supplier evaluation and so this work has tried to identify the important criteria that may enable the company to not just evaluate the suppliers’ performance but also to concentrate in those areas where improvements may be required. It also tries to exhibit how a multi-criteria decision making method can ease the work of a Vendor Management or a Quality Department in evaluating the quality aspect of their suppliers.
Keywords: Supplier evaluation, Analytical hierarchy process, Quality, Washing machine Company, Suppliers
4. MYSTERY SHOPPING: A MARVELOUS TOOL IN THE HANDS OF ORGANIZED RETAILERS
Abstract: Notwithstanding various technological involvement in the working environment of retailers, they still lag behind in getting feedback of customer experience in the store. Feedback given to them is generally in a hurry or mostly vague. Absence of feedback is slowly and gradually creating a lacuna between Organised retailers and customers. The concept of mystery shopping has evolved in order to cope with this challenge.
This paper is conceptual in nature and hovers around mystery shopping. The objective is to explain in detail its relevance and significance for organized retailers. Application of mystery shopping might prove to be a significant tool in the hands of organized retailers as it provides first hand information which helps to bridge the communication gap between the organized retailer and customer.
Keywords: Customer Engagement, Customer Experience, Mystery Shopping, Organised Retailer.
5. WOMEN ENTREPRENEURSHIP IN CHENNAI, INDIA – FACTORS TRIGGER AND PREVENT [Editorial Article]
Firdouse Rahman Khan
Abstract: Last four decades of the twentieth Century has seen faster growth in the women entrepreneurship underpinning the profound success of the globalized Indian economy. The women entrepreneurs encounter numerous challenges in various areas of production, marketing, finance and other business operations. The objective of this research study is to analyze the various factors affecting the women entrepreneurship development in the Small and Medium Enterprises (SMEs) of the industrial estates of Chennai. The study is focused on 107 women entrepreneurs of the SMEs who were selected on the basis of random sampling and were contacted through a well-defined questionnaire. The primary data collected was compiled and thoroughly analyzed to arrive at conclusions. A critical analysis was carried out using null hypothesis, chi-square tests and ranking tests.
The study reveals that the factors like education, previous experience and employment, and religion play a crucial role in motivating most of today’s women run SMEs. Further, this paper critically analyzes the discouraging factors impeding the women entrepreneurial development in the SMEs across the industrial estates of Chennai, state capital of Tamil Nadu (India).
Key words: Small and Medium Enterprises; Women entrepreneurship; motivating factors; discouraging factors; factors related to women entrepreneurial development