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Working Papers | 1994

Enriched Individual as a Centre for Growth

Parikh Indira J

This paper discusses the shifting paradigms of what is considered enrichment of an individual. In the traditional agrarian society enrichment was around relationships and institutions of belonging, age, experience, wisdom and sagacity meant an enriched individual. In to-days industrialised society achievement, success, and wealth connotes enrichment. But together both the traditional and the industrial context, to-day the individual identity holds a vast canvas of life to locate oneself, has choices from multiplicities, can evolve a perspective for life and living and can design and define membership and roles in multiple institutions. The individual is truly enriched when she/he can give expression to the being in terms of relatedness and to the becoming in terms of achievement, aspirations and success. The paper then focuses on women as enriched individual as a center for growth. Women enrich themselves through redefining their social roles in the socio-cultural context, achievement and success in education context and performance and success in the organizational context. Essentially the movement toward a professional orientation anchored in wholesomeness and well-being will shape women where new processes can be initiated for themselves as well as others.

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Working Papers | 1994

Religious Movements in the Contemporary United States

Giri Ananta

The present paper describes the vision and practice of different religious movements in the contemporary United States such as Moral Majority and Habitat for Humanity. This description is presented with a view that contemporary Indian debate on secularism and religion must be based upon informed understanding of the actual process of return of religion to the secular city in the western world, since much of our contemporary assumptions about secularism are based upon the Western models. The dynamics of religious movements in the contemporary United States challenges us to rethink our taken-for-granted assumption about the decline of religion with technological advancement. It also urges us to take the spiritual dimension within religion seriously, which ultimately helps us to make the distinction between religious fundamentalism and practical spirituality.

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Working Papers | 1994

A Framework for Analysing-Consumer Orientation of Biotechnologists

Moorthy Janakiraman

Evaluation of agricultural technology development and commercial product development revealed that only a small percentage of the new products developed have succeeded in the market. Analysis of the reasons for product success or failure showed that the major factor was a poor understanding of consumer needs by the people involved in the product development. In other words lack of 'consumer orientation' of scientists could be the major reason for failure of many products. Consumer orientation is defined by four dimensions. They are [1] information generation from consumers, [2] provision of information to the consumers, [3] integration of different functional areas, and [4] Responsiveness to the needs of the consumers. If consumer orientation and product success are assumed to be positively correlated, then the process which increase the consumer orientation of scientists need to be spelt out. Scientists deal with different consumers participating in the process of product development. These consumers can be clubbed into two groups based on the level of control that organization can have on them, [1] those who are inside the organization, called 'internal consumers' and [2] outside the organization, referred as 'external consumers'. These consumers have preferences for various product attributes which may be complimentary, or contradictory. Presence of a long chain of consumers and contradicting attribute preferences could complicate the process of defining the product attributes. Incorporating the attributes of those who really consume the product may become even more difficult. Because, many who articulate one set of attributes may actually not consume the product. Scientists have to devise ways to decide which preferences to be taken into account, how much and in what sequence. Further, the production, distribution, and utilization process may also generate externalities for various systems. For example, replacement of chemical pesticides by biological products such as B thuringiensis, NPV, and other plant derivatives could generate a positive externality for farmers, end users and ecological systems, and the pesticide firm may consider it as a negative externality for them. Hence, the nature of externality could develop support or opposition from the clients based on their perception and the actual impact of the product on them. Consumer orientation in an organization could depend on two major factors. viz – [1] scientists-specific factors such as their interest in type of problems, background, etc., and [2] organizational-specific factors such as performance evaluation criteria used, the incentive and disincentive mechanisms used and the perception and preferences of individual scientists about these mechanisms. In the present investigation our objectives are to explore the differences in the consumer orientation process between successful and less successful products and to understand the influence of scientist-specific, and organizational-specific variables on the consumer orientation process. We expect that this study could throw new insights about the process and factors influencing scientists consumer orientation. The findings could help in developing policy measures to influence the behaviour of the scientists to get closer to the consumers, listen to their voice and look beyond.

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Working Papers | 1994

Analysis of the Indian Securities Industry: Market for Debt

Samir K. Barua, Ragunathan V, Jayanth R. Varma, and Venkiteswaran N

Though the Indian equity market has shown some encouraging growth in the last decade, the Indian debt market has continued to remain sluggish. In an environment where India is keen to attract foreign investments, it will be imperative to develop the secondary market for debt. This study, commissioned by USAID and the Centre for Analysis Information and Studies, New Delhi, takes a comprehensive look at the Indian private corporate debt market, the public sector bond market, the Government securities market, the housing finance and other debt markets. Recommendations have been made in two parts; braod recommendations for the development of the debt market as a whole and specific recommendations for the development of various segments of the debt market. Recommendations covering the entire debt market, cover integration between the regulated market and the free market, market making for financing and hedging options, interests rate derivatives and tax reforms. Segment-wise recommendations include corporate debt market, PSU bond markets, Government securities market, housing finance and securitisation, new instruments and bond market services.

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Working Papers | 1994

Democratic Transition and the Challenge of Transformation

Giri Ananta

Ours is an age of democracy. Democracy as a form of government, characterized by elections and the installation of a “representative government, has been becoming a global phenomenon. The fall of the socialist world and domestic and global changes in Latin America, Africa, and Middle East have brought democracy to places and shores where it was undreamt of a few years ago, giving people a taste of freedom. But the globalization of democracy as a form of more legitimate representative government has not been accompanied by genuine efforts to tackle the problems of democracy (such as the tension between equality and liberty, the dictatorship of the majority, the actual as well as manufactured disinterest on the part of the so-called citizens not to participate in the electoral process resulting in as much as 50% of them not fulfilling their constitutional obligation to vote – the problems highlighted by no other than the most thoughtful observer of democracy as a practice, Alexis de Tocqueville--) and to widen the universe of democracy in accordance with the historical changes taking place in social systems as well as in the light of a desired agenda of transformation. The present paper aims at presenting some of the crucial gaps in the theory and practice of democracy and suggests the way we can rethink democracy as a prelude to and a model of a genuine transformative engagement.

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Working Papers | 1994

Connected Criticism and the Womb of Tradition

Giri Ananta

The present paper is an inquiry into the possibility of criticism of tradition on its own terms, which however leads to its desired transformation. The paper discusses two types of such connected criticism—philosophical and prophetic. The paper argues that it is the prophetic criticism which is more in tune with the spirit of tradition and has enormous relevance for the contemporary world, which is still grappling with the problem of roots. The paper argues that it is spirituality which constitutes the womb of tradition and this spiritual outlook is what we need badly today as we are at the crossroads of tradition, modernity, and postmodernity in the contemporary world.

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Working Papers | 1994

The Cult of Vishnu and Indian Economic Development

Khandwalla P N

The nature of the work ethic of a society may significantly shape the character of its economic development. It is argued that the cult of Vishnu and its associated work ethic have played a notable role in the economic development of India during the past 2000 years or so. The cult of Vishnu appears to be a fusion of the cults of the Vedic God Vishnu, the cosmological deity Narayana, Vasudeva of the Vrishnis who promoted the Bhagvata cult, and the cowherd boy Krishna. Vishnu that has emerged as a fusion of these cults, and elaborated in his avatars or incarnations, appears to have a pragmatic, “business friendly”, resourceful manager orientation, who may preach high spirituality but in practice uses pragmatic means to achieve ends. The Bhagavada Gita, the centerpiece of Vaishnava spiritual philosophy, while excoriating greed, provides a powerful structure of the work ethic that upholds the necessity of effort and legitimises every manner of mundane pursuit including commerce provided it is pursued with detachment and is dedicated to God. This work ethic bears some striking similarities to the Protestant Ethic described by Weber and suggested by him to be a major impetus to the rise of capitalism in the West. The emergent cult of Vishnu may have originated in coastal trading communities of southern and western India, in view of the many marine associations of Vishnu, and then have spread to the rest of India. It may also have been influenced by contacts with West Asian civilizations. Several hypotheses are stated that follow from the main hypothesis of the cult of Vishnu influencing India's economic development.

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Working Papers | 1993

Drop Out, Enrollment and Poverty: Policy Implications

Vijaya Sherry Chand and Shukla Shailesh R

Debate around the factors responsible for the drop-out phenomenon in elementary education focuses largely on two positions: (a) that parents, under economic compulsions, tend to “withdraw” their children from school, (b) that the schools themselves tend to “eliminate” certain kinds of pupils. The first position dominates the debate and tends to focus on factors external to the educational system. It adopts a macro socio-economic perspective and fits in well with the concern over the quantitative performance of the elementary education system. The more critical second position also adopts a macro perspective, reflecting, however, on the system of education itself, its pedagogical practices, content and institutions. It may be argued that the continued focus on quantitative measures like drop out and enrollment is misplaced. Yet, for better focussing of educational reform, a synthesis of both these approaches is called for. Firstly, enrollment and drop-out data can be used to identify micro-locations which are – educationally speaking – 'problematic'. Such locations may show high enrollments but poor educational performance and correspond to the ecologically high-risk and bio-diverse pockets. Policy intervention should focus specifically on the 'quality' of schooling in these areas. The paper concludes that the correspondence of poor educational performance with poverty of a particular nature that exists in these environments has to be recognized in order to facilitate a shift of educational planning from centralized and uniform policies towards innovative localized approaches.

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Working Papers | 1993

SEBIs Regulatory Priorities: Need for Change

Jayanth R. Varma and Samir K. Barua

Genesis and Function: SEBI was created in 1988 to reform and regulate the securities markets in India. It was given statutory powers in 1992 and assigned the following functions and responsibilities: · Make rules and regulations for various agencies connected with the securities markets. · Supervise and monitor the functioning of these agencies, including stock exchanges, to ensure that they follow the rules. · Protect investors from fraudulent and unfair trade practices. · Conduct necessary research for its function and undertake education and training of investors and intermediaries. Reforms and Impact: the two main areas where SEBI took initiative after receiving statutory powers were: a) making rules for financial intermediaries, b) supervision and monitoring of functioning of stock exchanges. The reforms initiated by SEBI have met with only limited success. The main reasons for this are: · The reforms are piecemeal and do not fit into a larger cohesive plan of action. · The reforms are hastily conceived and implemented, without adequate time and effort being spent on wider consultations and feedback form market participants and experts. · The reforms attempt to make minor changes in the current antiquated method of operation of the markets, which create more friction and confrontation and little real benefit it terms of making markets more efficient. Need for New Focus: The mission of SEBI needs to be reinterpreted as making the Indian securities markets informationally more efficient. This implies that SEBI should attempt to ensure that: · Reliable information is available to all market participants with increasing frequency. · The cost of transactions in the market is reduced and the ease of transactions is improved. Achieving the Mission: A Radical departure from the current method of functioning is needed to achieve the new mission. The strategic shift in SEBI's plans would involve the following: · Giving top priority to use of Information Technology to bring in scrip-less trading and computerized clearance and settlement trading systems. · Bringing the accounting and corporate disclosures standards on par with standards in the developed securities markets. · Restructuring the markets to achieve an integrated, automated system of trading in all types of securities to ensure best possible service to all investors through greater competition and improved dissemination of information. · Professionalizing the financial analysts function through training programmes. · Changing the staffing pattern of SEBI by recruiting professionals rather than depending on personnel on deputation from various government departments. Role of the Government: To ensure that SEBI does not get degraded by personal ambitions and the pressure of the larger system, the government must do the following: · Clearly define the role and jurisdiction of the various agencies that have supervisory and regulatory authority over various aspects of the securities industry. · Change the composition of the Board to include experts from the field of finance, accounting and economics. · Ask SEBI to prepare a five year perspective plan with details about reforms contemplated and their schedule of implementation.

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Working Papers | 1993

How Firms Make Technological Improvement: Observation from a Field Study

Ramanarayan S

The paper presents observational data impressionistic accounts emerging from a study aimed at understanding the determinants of technological dynamism, and the role that publicly funded technology institutions play in facilitating product or process innovations in industrial firms. The study covered 23 foundries, 13 polymer units, and 3 technology institutions. Firms were found to obtain new technologies largely through foreign collaborations. They focused their technology efforts on assimilation of technology and adaptation for local conditions or local volumes. Several factors were found to be inhibiting technology development efforts: short term planning horizons of the management; perceived absence of connection between technological sophistication and commercial success; inadequate attention to development of markets to utilize the benefits flowing from technology development; high costs of modernization; and absence of reliable quality inputs and infrastructure which keeps managers mired in routine, survival concerns. The study identifies some factors which contributed to technological fervour: inclusion of technology concerns on the management agenda and conscious attention to technological aspects; processes and mechanisms for encouraging technological innovation; attention to linkage and integration processes to institutionalize technological changes; upgradation of technological capability through careful HRD efforts; new and exciting corporate strategies that can serve as frameworks for technology plan; and active networking with technology institutions, suppliers, customers, industry associations etc. The paper examines the implications of the findings for roles of senior managers. To meet the technological challenges, two sets of roles become very important: entrepreneurial role that is aimed at discovering new possibilities and displaying high level of initiative to implement innovations, and leadership role that is oriented to meeting the needs of change by mobilizing and energizing members toward a common vision.

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IIMA