Faculty & Research

Research Productive

Show result

Search Query :
Area :
Search Query :
2758 items in total found

Working Papers | 2000

The Orlovsky Solution for Acyclic Comparison Functions

Lahiri Somdeb

In this paper we characterise the Orlovsky solution and what we refer to as the family of threshold solutions. Our family of threshold solutions are somewhat larger than the family of solutions which select only those alternatives that secure a certain prespecified proportion of the votes against all other alternatives. Our family of threshold solutions also include ones which select only those alternatives that exceed a certain prespecified proportion of the votes against all other alternatives. This is the price we pay for ommitting continuity from our axiomatic characterizations.

Read More

Working Papers | 2000

Achieve Zero Customer Dissatisfaction for Corporate Immortality

Ramachandran K

Growing environmental turbulence has made the challenge to keep customers satisfied all the more difficult. Corporate mortality of firms including those favoured by customers is not under control. There seems to be conceptual and methodological weaknesses in the approaches currently used by corporations to achieve customer satisfaction. The purpose of this paper is to discuss a new concept, "Zero Customer Dissatisfaction" (ZCD). The objective in this approach is to identify customer dissatisfaction from the perspective of organisational strategy and eliminate it entirely as it emerges. The argument for ZCD originates from the concept of latent demand or a demand, which is existing but not yet exploited by any firm. In the ZCD approach, the sources of dissatisfaction can be internal or external to the organisation, and modifications on the value chain may be required to achieve ZCD. Identification of customer dissatisfaction has always been challenging. Drawing from anthropological literature, participant observation is found to be very appropriate to study customers, both internal and external on the value chain. This technique can be used along with other existing methodologies. The paper goes beyond the term of marketing and other specific functions, and identifies ZCD approach as the route to ensure corporate immortality. The paper draws on experiences of a number of companies to support the arguments.

Read More

Working Papers | 2000

Scheduling Partially Ordered Activities Under Resource Constraints on Parallel Machines

Bagchi Amitava, Dhavale N P, and Sanjay Verma

A four-step strategy is proposed for scheduling a set of partially ordered resource-constrained activities on a given number of identical parallel machines. For regular measures, the generated schedule is optimal. In the first step, the difficulty level of the problem instance is estimated using the problem parameters as arguments. Easy problems are solved using a best-first tree search algorithm. For harder problems, an approximate algorithm is employed to determine a good upper bound on the measure. This bound is fed to a breadth-first tree search algorithm, making the pruning more effective and reducing the memory requirement of breadth-first search. When the number of parallel machines is 2, 3, 4, 5 or unlimited, this strategy is able to solve all except a small number of the benchmark PROGEN problems on a Linux-based Pentium PC or a UNIX-based RS 6000 machine. On projects without resource constraints, the proposed method is faster than the earlier method of Chang and Jiang [1994] by orders of magnitude.

Read More

Working Papers | 2000

Comment on Icmeli and Erengucs

Bagchi Amitava, Dhavale N P, and Sanjay Verma

In a recent paper, Icmeli and Erengue (1996) present an algorithm to maximize the Net Present Value (NPV) of a given project under renewable resource constraints. It is shown here, with the help of an example, that in some cases the algorithm fails to find an optimal solution. A simple modification in the last step of the algorithm resolves the problem.

Read More

Working Papers | 2000

Modelling Credit Risk In Indian Bond Markets

Ragunathan V and Jayanth R. Varma

Government bonds are subject only to interest rate risk. However, corporate bonds are subject to credit risk in addition to interest rate risk. Credit risk subsumes the risk of default as well as the risk of an adverse rating change. Considerable work has been done in the US and other countries on credit rating migrations. However, there is little work done in India in this regard. In this paper therefore, we analyse credit rating migrations in Indian corporate bond market to bring about greater understanding of its credit risk.

Read More

Working Papers | 2000

The One Dimensional Kakutanis Fixed Point Theorem in Problems of Fair Division: A Classroom Capsule

Lahiri Somdeb

In this paper, we provide a simple proof of the one-dimensional version of the Kakutani's fixed point theorem, which is required to prove the existence of a Walrasian equilibrium in a two commodity multi-agent economy where preferences are convex. In a final section of this paper we apply the Kakutani's fixed point theorem to prove the existence of what we call an equitable equilibrium with rationing in a model where each individual is endowed with positive quantities of two goods. The solution is very similar to the solution due to Dreze (1975) except that ours is not a fixed price solution. It is a problem of resource allocation from an initial position and the solution we propose falls within the general category of non-Walrasian equilibria.

Read More

Working Papers | 2000

Restructuring Gujarat Electricity Board: Outline of a Strategy and Proposal for Action

Sebastian Morris

This note argues that the GEB needs to be restructured urgently. The principal challenge is really to overcome that major 'agency problem' that results in leakage of enormous revenue. Plugging the leakages alone would make the GEB profitable at current average tariffs! The key elements of the restructuring would be to directly administer the agricultural subsidies through a coupon system; so that regulation becomes easy, and management of electricity distribution become entirely viable, and can, therefore, be commercially provided. Privatisation of distribution could be necessary given the entrenched vested interests acting against task orientation within the GEB. Yet, complete unbundling would only be dysfunctional at this stage. Some bundling of generation with distribution assets has value to the reform process, and to the ease of regulation. Other details, like the treatment of stranded (IPP) contracts, contracts with central power corporations (BPSAs), the grid rules, pricing of transmission charges, and the basic structure of the wholesale market for power are discussed. This note is in five sections. In the first section the reasons for the need and urgency of major reform of the electricity sector and restructuring of the GEB are brought out. In Section II the strategy is outline. Sections III and IV and V respectively bring out the key proposals discuss the modalities and lay the scheme in a sequence of events and decisions.

Read More

Working Papers | 2000

Quasitransitivity and Monotonic Preference for Freedom

Lahiri Somdeb

We consider a finite universal set of alternatives and the set of all feasible sets are simply the set of all non-empty subsets of this universal set. A choice function assigns to each feasible set a non-empty subset of it. In such a framework we propose and study necessary and sufficient conditions for quasi transitive rationalizability. In a final section of this paper, we analyse necessary and sufficient conditions for quasi transitive rationalizability of choice functions generated by a monotonic preference for freedom.

Read More

Working Papers | 2000

Women and Leadership Roles

Engineer Mahrukh and Parikh Indira J

Indian Women today carry the legacy of a civilisation thousands of years old; this legacy is paradoxical, in that it can be both a burden and a source of inspiration. The challenge is to distill the best from the past, transform ancient wisdom into modern day paradigms and not be shackled by the bondage of age old dogmas and beliefs! Indian Women and Indian society as a whole has moved from well-entrenched gender-centric roles, (where Man was considered the leader and provider and Woman the idealised deity, but submissive and subservient in day to day matters), to today's revolutionary thinking that is emerging, partly due to education and western influences, where roles are not stereotyped by gender and allow men to recognise their feminity and women their masculanity. This transformation is far from complete; however important beginnings have been made particularly in large metropolitan cities in tomorrow's industries where enabling technologies have brought dramatic changes in terms of creating virtual work spaces. The objective of the four day workshop conducted at the Indian Institute of Management, Ahmedabad, for women managers/leaders in October 1999, was to explore the influence of the transformation of organisations on women's roles in the corporate world; to explore their leadership roles and also their life-spaces; to discover wholesome ways to actualise dreams and chart new career paths. The programme was divided into two modules, Conceptual and Experiential. The conceptual module explored the impact of transformation in organizations and on individual employees, particularly women. In the experiential module the exploration was around life-spaces and systems where processes of socialisation in both family and work setting were understood. How did women who are impacted by these diverse interfaces give shape to their roles? The paper discusses the experiences of the participants at home and at work place. The shift in mindsets of people and society have contributed to a lot of positivity in terms of women's acceptance as capable, hardworking and committed professionals and individuals. On the other hand they did feel that there was a constant pressure to perform and prove themselves at work place and simultaneously, a constant feeling of guilt and anger in coping up with expectations of children and in-laws respectively at the home-front. They were indeed successful in striking a balance between home and work and in doing so not many had managed to take leadership positions which was still very much considered a man's domain. An important and interesting issue which the paper further discusses is the exploration of women's life spaces, their identity and the roles they take, especially in terms of leadership. The life-space of women vis-à-vis home/family and also vis-à-vis work place is analysed and discussed by the participants. At the home from the dynamics of in-laws, especially the interface of the women with their mother-in-law, their experience of motherhood and the dynamics of relationships with the husband- all contribute to dilemmas of marriage. The women shared some of their personal experiences related to their entry into the workspace and their interfaces with the superiors, colleagues and subordinates of both genders. The dilemmas faced by women in terms of assuming leadership roles, climbing corporate ladder and contributing to decision making processes in the organisation are, anchored in the socio-cultural context as well as in the maps and definitions they carry from the past. A future scenario was painted by the participants. For the first time in recent history women have begun to assume leadership roles in the corporate world and are hopeful of blazing new trails for future generations, creating new role-models and cracking, if not, shattering the glass-ceiling. Women can look forward to the future with optimism. Women are experienced in managing one of the most complex organization imaginable – the household, and therefore can apply their skills and experiences in terms of hard-work and sensitivity in managing relationships, at the work place. The authors have discussed how women could be successful leaders if they achieved a congruity between their inner-instincts and their career goals! The Indian Woman today is at a threshold where she is confronting not only herself and her own inner feelings, historical conditioning and fears, but also managing interfaces in the outside world both at home and work place. As recent role-models demonstrate, women tentatively are crossing this threshold, challenging themselves and blazing a new path for future generations. The new Millennium may well usher in an era, where not only women but the entire human race can more easily achieve self-actualisation and total fulfillment both professionally and personally. The leaders of tomorrow would be such that they would not be identified by their gender, but by their capability and meritocracy.

Read More

Working Papers | 2000

From the Globalised Southwest Effect in Aviation to `Democratised Development`

Balakrishnan K and Thomas P S

In the national quest for competitive advantage two basic forces may be crucial. On the one hand, progressive corporations “invest in inimitability” (the so-called institutional effect). Simultaneously, in the interests of time compressed national progress, policy makers try to facilitate imitation and substitution (in short competition) among the fast followers in the economy instead of leaving it entirely to market forces. In this paper we studied the institutional or demonstration effect provided by Southwest Airlines. It has been credited by the US Department of Transportation (DOT) with almost single handedly providing the discipline for fare restraint and the impulse for market expansion (or “democratisation”) in the US airline industry. It has been called the Southwest Effect. We first examine its diffusion via the bandwagon and competitive effects among the big and small carriers of the US. We then extend the coverage to Europe and Japan to shed light on the Indian authorities' declaration to “democratise aviation in the 21st century”. This mission has its parallels in corporate missions in the automobile and telephone industries of the US and home appliances and equipment industries of Japan decades ago. We conclude that in a policy intensive sector like aviation (where the government has to prevent cabotage and safeguard bilateral agreements) the crux of the matter may lie in “democratised development” than in the particular sectoral focus employed. There may be a great need and opportunity for evolving an innovative methodology for managing and governing the complex process of democratised (or grassroots) development on a societal plane over a couple of decades at a time. The main benefit would lie in facilitating the inter-institutional contest for excellence that may be at the core of such development.

Read More
IIMA