SYNDICATE-The Journal of Business

THE ROLE OF INSTITUTIONS OF HIGHER EDUCATION IN DEVELOPING THE EMPLOYABILITY OF GRADUATES AN EXPERIMENTAL STUDY
Dr.K.Nirmala Prasad
Principal & Head of the Research Department of Commerce, M.O.P.Vaishnav College for Women, Chennai

Ms. Archna Prasad

Associate Professor, M.O.P.Vaishnav College for Women, Chennai

ABSTRACT This article aims to define the term employability and its myriad facets in the present day context. The nexus between higher education and employability is established by clarifying the aims of higher education as required by the stakeholders of colleges and universities. The article proves this nexus by analysing the results of an experimental study. The study observes the effect of institutional practices and pedagogies that are followed by a chosen college to develop the employability skills of its students. Key words: Employability, Higher education, Skills, General skills, Personal competencies, Employability skills, Intervention for employability development.

INTRODUCTION The term Employability was first introduced by Beveridge1 in the year 1909 in his book Unemployment: A problem of industry. A century later, although there has been immense research in this area, the term still remains open to discussion and debate. In the words of Gazier (1998)2, Employability is a fuzzy notion often ill-defined and sometimes not defined at all. The Dictionary meaning of the word employability is the character or quality of being employable. But the dictionary meaning is rather static for such a dynamic concept. Over time it has been found that one definition is all embracing and all encompassing. This is popularly known as the ESECT (UK) definition and has the widest applicability today: Employability
1

SYNDICATE-The Journal of Business can be defined as a set of achievements skills, understandings and personal attributes that makes graduates more likely to gain employment and be successful in their chosen occupations, which benefits themselves, the work force, the community and the economy. (Professor Mantz Yorke, 2004)3 This definition views employability from the perspective of nation building. This perspective is very relevant in the present times where the world is a flat platform. Competition and collaboration take place in real time among people all over the planet. People can connect with others anywhere, anytime and within a nanosecond. In this flat world, lifetime employment is a fat that the flat world cannot sustain. Employability for life is as good as replacing fat with muscle (Friedman, T.L., 2005)4. Hence over the last two decades there has been a shift in focus from employment to employability. Higher Education and Employability The role of higher education is very crucial in the development of any nation, particularly in developing or under-developed nations. However with the passage of time the expectations from higher education have changed. They are not mere purveyors of knowledge but also agencies for skill development and character building i.e creators of the right quality of manpower. The relationship between higher education and employability can be demonstrated through a statement of links or a flow chart given by Lee Harvey (1999) 5: Higher education institution Employability development Opportunities Graduate Employability Employment. The output of education and training systems, particularly higher education, in terms of both quantity and quality of skills of its students, is the prime determinant of any countrys industrial productivity and competitiveness. Higher education is responsible for building four dimensions of employability viz. General Academic capabilities or proficiencies (the 3 Rs of reading, writing and math) Subject specific knowledge or technical skills ( hard skills) Generic knowledge or general skills ( soft skills) Personal qualities or attributes of self.

SYNDICATE-The Journal of Business Out of all these dimensions, the generic skills and personal attributes domain is the most critical as the message from the industry seem to be clear - graduates have to be trained to be Symbolic analysts (Robert Reich, 2001)6. Symbolic analysts have relevant disciplinary understanding but more importantly they are imaginative, creative and possess the necessary soft or generic skills to deploy a disciplinary knowledge -base to the optimum effect. In the World Bank study (2011)7, on the employability of Engineers in India, it was found that employers perceive soft skills as more important than professional skills. In fact, the word employability skills has come to be used only for the soft skill component of the skills domain. This is because employers tend to value generic skills more highly than disciplinary based (subject specific skills). (Harvey et al., 1997)8 The role of institutions of higher education in creating the right quality of manpower has been studied using an experimental study that has been outlined below. EXPERIMENTAL STUDY TO STUDY THE EFFECTIVENESS OF INSTITUIONAL INTERVENTION FOR EMPLOYABILITY SKILL DEVELOPMENT: Objectives of the study: The objectives of this experimental study was as follows To observe the effect of an integrated approach to employability skill development on the overall employability score of students. To observe the effect of institutional interventions ( i.e. institutional support practices for employability skills development) on each employability skill. Area of the study: The study was conducted among the Students an arts and science college in Chennai affiliated to the University of Madras. Description of the sample: The experimental study was conducted on a sample of 100 students. The students belonged to undergraduate programmes in the business stream. Research design: The study employed an Experimental research design using self assessment measures. The students were asked to assess themselves with respect to 14 employability skills (Soft skills) on a five point scale (5 being the highest and 1 being the lowest).This self 3

SYNDICATE-The Journal of Business assessment questionnaire was administered to them on the first day of their Undergraduate programme. Subsequently during the first year of their course (i.e. over a one year period at college) they were subject to several interventions for employability skill development. The same questionnaire based on self-assessment with respect to the same 14 skills was readministered at the end of the one year i.e. on the last day of year one of the degree course. The results were compared. Interventions provided to the students: The following were the practices followed for employability skill development during the one year period. Skill Oriented Curriculum and Syllabi in core subjects like Accounting, and Computer Applications in Business. In these courses a laboratory component for hands on skill development was embedded into the curriculum. Innovative and Learner Centered Teaching Methodologies: Only 20% of the classroom instruction was through lecture mode. The remaining was through active teaching learning methods like debates, role play, game based learning, brainstorming, story based learning, concept and mind mapping etc. Collaborative and co- operative learning and assessment methods: Several group assignments and projects were given in every course and the assessment included criteria for effective team work. Problem based learning: In core subjects like Business economics and Principles of Management problem based learning was adopted through the case study method. Exposure to industry: More than 10 industry experts were invited to deliver guest lectures during the one year period. The lectures were based on the real life experiences and the practical applications of theory in industry. Students were given an opportunity to interact with these experts. Practical exposure: Two field visits were organised to relate theory to practice. Project Work: One survey based mini projects on socio economic themes and one research based project on financial reporting were included in the curriculum. These were group projects.

SYNDICATE-The Journal of Business Practice School: 40 hours of hands-on training was provided through business on campuses- an incubation centre for entrepreneurship and business idea generation. Technology integrated learning: Online learning modules and tests were included and all assignments were submitted online. Students were asked to prepare audio visual presentations several times during the one year period. 120 hour soft skills training programme : Value added courses on communication skill, presentation skills, computer skills, personal effectiveness, leadership training etc. was given in an intensive 20 day programme. Results of the study: The self-assessment scores (before and after scores) have been analysed and compared using paired T test and shown in Table No 1. Table No.1: Results of paired t test Mean scores Increase in mean scores S.No. Employability skill 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Oral communication skills Written communication skills Presentation skills Inter personal skills Confidence Problem solving skills Decision making skills Diversity skill Conflict management Team skills Leadership skills Comprehension skills Responsibility Computer skill T value -10.597 -11.346 -12.075 -10.962 -10.325 -8.257 -10.913 -8.620 -6.991 -8.641 -7.777 -9.320 -9.192 -6.524 Sig. .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 .000 Before 2.6300 2.4700 2.5300 2.7100 2.1200 2.5800 2.9100 3.2600 3.3200 3.3200 2.8000 3.3900 3.0500 3.2000 After 3.8100 3.6800 3.9800 4.0200 3.4000 3.6600 4.0500 4.2400 4.1900 4.3400 3.8100 4.4200 4.1100 4.0600 ( %) 45 49 57 48 60 42 39 30 26 31 36 30 35 27

SYNDICATE-The Journal of Business The table reveals that the effect of interventions on all employability skill variables has been significant (p= 0.000). The value oft is negative for all the 14 variables indicating that the after mean scores are higher than the before mean scores. This indicates an improvement in all employability skills chosen for observation. A comparison of the before and after scores shows that the interventions have resulted in an improvement in the all the employability skills scores of the students. The percentage change in mean scores shows that the biggest

improvements have been in the areas of confidence, presentation skills and written communication skills. The effect of interventions on the overall employability score based on all 14 skills is also significant (t= -17.704, p=0.000). The overall employability score has increased from 2.8779 to 3.9836i.e by 38%. This is very significant as it indicates improvement over only one out of the three years of the undergraduate degree programme. CONCLUSION The results of this experimental study reveal that the role of institutions in promoting employability of their students is most important and hence the onus of providing the right quality of human capital to the nation lies mainly in the hands of higher education.

SYNDICATE-The Journal of Business

REFERENCES 1. Beveridge W (1909), Unemployment: A Problem of Industry. Longmans, London. 2. Gazier B (1998) Observations and recommendations, in: B.Gazier (Ed.) Employability concepts and policies, pp. 298-315. Berlin: European employment observatory. 3. MantzYorke (2004), Employability In Higher Education What It Is And What It Is Not, Higher Education Academy, ESECT. 4. Friedman T.L (2005), The world is Flat: A Brief Of The Globalised World In The TwentyFirst Century (updated and expanded ed.) London: Allen Lane. 5. Lee Harvey (1999), Employability: Developing the Relationship between Higher Education and Employment, Opening Presentation at the Fifth Quality in Higher Education 24-Hour Seminar, University of Central England in Birmingham. 6. Robert B. Reich, (1991,2001),The Work of Nations, Preparing Ourselves for 21st-Century Capitalism, Vintage Books, 1991, ISBN 0-679-73615-8. 7. Andreas Blom; Hiroshi Saeki , World Bank , 2011, Employability & Skills set of Newly Graduated Engineers in India, ISSN: 1813-9450. 8. Harvey, L., Moon, S. and Geall, V with Bower, R., 1997, Graduates Work: Organisation change and students attributes. Birmingham, Centre for Research into Quality (CRQ) and Association of Graduate Recruiters (AGR).

SYNDICATE-The Journal of Business

A STUDY ON THE INNOVATIVE HR PRACTICES IN LARSEN & TOUBRO LIMITED

Dr. S. THOTHADRI
Assistant Professor, Department of Corporate Secretaryship, The New College (Autonomous), Chennai

ABSTRACT In Todays competitive business environment, intellectual capital will be vital to business success. The Universe is filled with abundant resources. Human Resource is said to be the crowning glory of all creations. The greatest asset of an organization is its people. Organisations are run by people. Thus, the performance of an organisation is the total performance of its members. With all the requisite capital, anyone can buy the most advanced technology, yet not all organisations perform in the same way. The difference in achievement lies in the Men behind the machines. Human Resource is all about building the human capital of the enterprise. The evolution of L & T Company into the countrys largest engineering and construction organisations is a remarkable success story in Indian industry. Today L&T has been an extraordinary company in the Indian context. Larsen & Toubro Limited is a diverse technology, engineering, construction, and manufacturing company with projects in 30 countries. The company won Asia Pacific HR Conclave Award for Most Innovative HR Practices and National award for Best HRD Practices from Indian Society for Training and Development. This study intends to identify the Best HR Practices practiced by Larsen & Toubro Limited. The study intends to identify various innovative HR practices that enhance employee commitment, achieve higher levels of productivity and quality of services. Notable HR practices include SAP HR, Communication System, Recruitment Policy, Employee Training, Reverse Mentoring, Customer Focus, Performance Evaluation, and Employee Satisfaction.

Keywords: HR Practices, Performance Management, Employees, Awards

SYNDICATE-The Journal of Business INTRODUCTION Innovation is critical for HR due to the many challenges organizations face today. HR is a discipline that is permanently challenged and reinvents itself to better the work of persons and organizations. In the present scenario, companies need to be much more aggressive and innovative. Competitive advantage of a company can be generated from human resources and the companys performance can be influenced by set of effective HR practices. Human Resource is the soul of any organisation. Human resource is considered to be the most valuable resource by the practitioners of human resource development. The world is encouraging progressive HR practices such as high involvement work practices, training, strategic workforce planning, continuous improvement programmes etc. The word Human in the term HR focuses on the fact that organizations depend on Human resource for the production of goods and services. Resource acknowledges that people are represented as the most valuable resource in organizations. In a highly competitive world, organisations across the globe are searching for ways and means to continuously improve their performance and profitability. Adopting best practices in HR has been identified as one of the precursors of the desired outcomes. Innovation can be defined as "the successful exploitation of new ideas". It involves new technologies or technological applications. Innovative HRD Practices enable the organizations to effect radical improvements. Innovative HRD practices build competencies and capabilities for superior and winning performances. It simultaneously creates long term fertility for innovation of business ideas and strategies for future. The HR policies must be integrated with business policies. The quest for innovative HRD Practices is important for corporate India. It offers a way to vault into the global league.HR Practices form the culture in business management. The practices should, necessarily be the best practices in HR which would result in benefits to all stakeholders like shareholders, creditors, suppliers, consumers and employees. The organisation as a whole will then reap the benefits. Best Practices are the best way to perform a business process that leads to superior performance in any field. It can be defined as inquiries into the skills and methods of the high performers to recognise their accomplishments, document their methods and skills and then share this information with team members to improve overall performances. Best practices imply new ways of organizing work,
9

SYNDICATE-The Journal of Business rewarding performance and involving employees in the decision making process. The aim of the best practice is to make learning continual and adaptation a reality. Best practices invariably create in the workforce, an awareness of the need to achieve the business goals in the best possible and ethical manner. It also aims at creating a sense of togetherness in the organization. Holton and Kaiser (2000), on the other hand, depict innovation as a performance driver in organizations, towards an end. Yet, Sta. Maria and Watkins (2001) emphasize the relationship between perceptions, concerns and the actual use of innovations within an organization. STATEMENT OF THE PROBLEM Organizations and the HRD function in organizations are under constant pressure to innovate in order to sustain the viability of the organization. The problem to be addressed is the lack of understanding about innovation and the relationship between innovation and HRD. The problem is described as the lack of research on Innovative HR Practices. The study will analyse the existing Innovative HR practices followed by L & T. The purpose of this study is to contribute to the understanding of the Innovative Human Resource Development Practices (IHRDP), by identifying what those innovative practices are, and by examining the organizational characteristics that influence their adoption and implementation OBJECTIVES OF THE STUDY The objectives of the study are enumerated below: 1. To contribute to the knowledge and understanding of Innovative HR Practices in the field of HR 2. To analyse how Innovative Hr practices are understood in the context of organisation 3. To identify and describe the innovative HR practices followed in Larsen & Toubro Limited METHODOLOGY The study is a case study method as it is intended to understand the prevailing Innovative HR Practices in Larsen & Toubro Limited. Data was collected from the HR Manager through personal interview method. Descriptive method is considered to be the most appropriate for the
10

SYNDICATE-The Journal of Business present study. Data regarding organizations history and HRD activities were collected from annual reports, publications, websites and memorandum of agreements of the company. LITERATURE REVIEW The interest on the link between innovation and human resource has grown rapidly in recent years, particularly due to the emphasis put on the human resources of organizations as a means to become competitive. Pfeffer (as cited in Flood & Olian , 1995) has stated that as other sources of competitive success have become less important, what remains as a crucial, differentiating factor is the organization, its employees, and how they work, in which case those resources becomes strategic for an organization. Bengt-keLundvall and Frank SkovKristensen in their research paper captioned Organisational Change, Innovation and Human Resource Development as a response to Increased Competition have made an attempt to identify how the firms had developed its human resources and what were the motives for organisational change. Firms are divided into three groups based on the intensity of the competition. They are classified as C Firms (facing strong competition), A Firms (facing somewhat competition and S firms (milder or no change competition). Questionnaire survey method was conducted in 1900 Danish firms. The findings show that there is a very clear and consistent direction of change among the C Firms. The findings suggested that C firms tend to change towards what in broad terms is called organisational and functional flexibility. The outcome of the study is a stronger demand for skilled labour and for continuous upgrading of human resources. Further, the link between HR and innovation has been also analyzed from the organizations strategic point of view. The development of HRM policies in tandem with strategy is accompanied by a heightened interest in fostering innovation in order to be more competitive (Kossek, 1987), since it has become increasingly apparent that [] innovations arise not only from new ideas, but also from effective organizational implementation of innovative ideas. The resulting effect is that the acceptance of human resource as a source of competitive advantages brought legitimacy to HRs assertion that people are strategically important for firm success (Wright, Dunford, &Snell, 2001).

11

SYNDICATE-The Journal of Business Lewlyn L. R. Rodrigues and A. M. Chincholkar in their study on Benchmarking the HR Practices of an Engineering Institute with Public Sector Industry for Performance Enhancement have compared the Human Resource Development Climate in the Engineering Institute and public sector industry in India, based on seven dimensions reflecting the nature of Human Resource Development Climate (HRDC). The sample size used in the study was 100 each. Besides mean and standard deviation t - test was carried out to test the hypothesis. Based on the results, suggestions were made to enhance the HRD mechanisms of the engineering institute. The study put forth several suggestions to enhance the performance of HRDC. Amabile (1988) and Tan (1998) examined the factors that contribute, enhance, foster and sustain creativity in an organization. Their concern relates to what to do as organization in order to be more creative and thus innovative. Teece (1980) has pointed-out to yet another issue surrounding administrative innovationsthe economic impact derived from the implementation of this type of innovations. Teece indicated that those improvements in administrative techniques and in the organization economic activity may be just as important as technological innovations in terms of their productivity enhancing characteristics. Peri Sastri in his study titled Innovation in HR Practices has emphasized the need of innovativeness in HR. The innovativeness in HR will have to become more strategic, more proactive and more involved in the overall business of their employer. The researcher identified that all line managers and HRD managers play a key role in shaping HR processes and systems in their departments. He insisted that HR people should act as facilitators rather than implementators. He concluded that only innovative HR practices at the workplace can gear up the innovative thoughts of employees.

LARSEN & TOUBRO - PROFILE L&T was founded by two Danish engineers, Henning Holck-Larsen and SorenKristian Toubro, in 1938 with very limited financial resources. Beginning with the import of machinery from Europe, it rapidly took on engineering and construction assignments of increasing sophistication. It now has a major presence in key sectors of the economy. Larsen & Toubro Limited is a technology-driven engineering and construction organisation, and one of the largest companies in Indias private sector. It has additional interests in manufacturing, services and Information Technology. The Company has an international presence, with a
12

SYNDICATE-The Journal of Business global spread of offices and joint ventures with world leaders. The companys large technology base and pool of experienced personnel enable it to offer integrated services in the World markets.In every sphere of the company's operations, technology is the key enabler, reinforcing its leadership position, and sustaining its competitive strengths. It was built on strong values, a spirit of enterprise and innovation, and an obsession for quality and customer service. Today L & T is one of Indias biggest and best known industrial organization with a reputation for technological excellence, high quality of products and services and strong customer orientation. L & T has a global presence and has a thrust on international business over the years and has seen overseas revenues growing steadily. The company has manufacturing facilities in India, the Middle East, South Asia, China and Australia. Its customers include global majors in over 30 countries. Forbes Magazine ranked L & T the worlds 9th most innovative company ahead of Google and Apple inc. L& T is considered to be the bellwether of Indias engineering sector. The company was recognised as the Company of the year in 2010. The company has featured four times in Forbes Fab 50 list of the best public companies in the Asia Pacific Region.

HR PRACTICES IN L & T Larsen and Turbo Limited was the first Indian company to introduce an integrated Human Resources Development system. As HR is all about maintaining a positive and productive work environment, best practices help to make sure that employees feel good about the company they work for.

Table Showing Innovative Human Resource Practices as Reported by the Organization

Area Training and Development Recruitment Compliance Culture Consciousness Other Development

% 8.5 2.8 2.8 1.4 1.4

13

SYNDICATE-The Journal of Business Organization Development Coaching Customer Satisfaction Executive / Leadership Development Knowledge Management Training &Learning Mentoring Process Improvement Quality Circles Quality of Work Life Communication Team Building Value Clarification Work Redesign Career Development Reverse Mentoring Total 85.9 2.8 1.4 25.4 2.8 5.6 1.4 4.2 4.2 7.0 9.9 11.3 4.2 2.8 5.6 2.8 100

Recruitment Policy: The cornerstone of L & Ts recruitment policy has hinged on the proposition that engineering talent is one of its best assets. For tapping fresh talent, the company has started a pool campus process where the company invites all AICTE approved colleges in major locations across the country. Merit is always the sole qualification and the company adopts a secular approach to recruitment. Catch them young and make them grow is how the policy works in practice. Training Policy: The Company draws up an annual training calendar, highlighting the training activities for the year. Inputs to formulate this training plan are taken from the performance review form, by interacting with the Regional Offices and the higher echelons of the management on the present and future requirements of the industry. It also includes detailed discussions with the faculty. Line executives and managers involve themselves as faculty for most of the In-house Programmes. 90% of in-house programmes are conducted by them. As line mangers have better understanding of the nature of business and the unique
14

SYNDICATE-The Journal of Business problem associates with the industry, they are able to design and deliver effective training sessions keeping the company's and participant's need in mind. It has been experienced that the concept of "Learning Organisation" is getting effectively rooted in the organization through the above process.

Table Showing Mean Rank of Innovative HR Practices HR Practices Training / Work - based Learning HR Planning Performance Evaluation Communication & Management Organizational Development Mean Rank 1.81 2.92 3.79 3.33 3.15

Performance Evaluation: The Company always believes in keeping its employees motivated. It always believes in experimenting and implementing new ideas. The performance evaluation is appraised at three levels i.e. self appraisal by employee reviewing his past performance, critical attributes appraisal by immediate supervisor. Finally, the superior along with the employee carries out performance and development planning for the future period. The Performance evaluation system adopted by the company leads to identification of training and development needs. It also creates a new basis for improvement and development. Performance Management System provides some of the essential components of effective motivational strategies. In particular feedback that permits an employee to learn how well he or she is performing. Performance Management System provides relevant information required for validating selection methods.HR practices such as collaborative performance appraisal, career and succession planning, team rewards have been institutionalized. Continuous Improvement: Continuous improvements in quality of work and safety are the highlights of the companys success in projects. Employees have always been encouraged to provide suggestions. The suggestion scheme introduced in 1964 triggers the creativity of employees and motivates them to suggest measures to upgrade quality, enhances productivity, reduces cost, fine-tunes safety practices. The company rewards employees who come out with best suggestions. The company recognizes the fact that recognition is the best
15

SYNDICATE-The Journal of Business form of motivation. So each year, a large amount of money is given as awards to workers. Project-specific quality plans are prepared and executed to ensure quality checks at all levels.

Table Showing HR Innovative Practices Reported in this Study

Area Recruitment Training Performance Evaluation Continuous Improvement Reverse Mentoring Culture Consciousness Customer Focus Dual Value Focus Communication Interdependence Total

% 15.46 22..34 12.46 6.89 5.78 4.24 6.78 2.19 14.22 9.64 100

Reverse Mentoring: The concept of reverse mentoring is that of filling in the gaps of knowledge and skill of the older employees with regard to emerging trends. The company strongly believes that to be in business, up gradation of employees' knowledge and skills are essential. Hence investment in Human Resources is one of the top priorities of the Management. The company promoted the concept of self-learning. Culture Consciousness: The employees can easily adapt with the companys culture and thrive in an atmosphere where communication exists both horizontally and vertically. They work for the larger interest of the company. The employees shall be an innovative, entrepreneurial and empowered team constantly creating value and attaining global benchmarks. The company fosters a culture of caring, trust and continuous learning while meeting expectations of employees, stakeholders and society.

16

SYNDICATE-The Journal of Business Customer Focus: The motto of the organization is In service lies success and the companys culture demands that the customer be provided with impeccable service. The company believes that the customers confidence is not developed accidentally but, it is built systematically. Training is essential to motivate a new employee and make the person customer-oriented. A strong customer-focused approach and the constant quest for top-class quality have enabled the company to attain and sustain leadership in its major lines of business across several decades.

Dual Value Focus: Focus on values must be value added and value driven. Value added means a sharp and constant effort on adding to the bottom line. Values driven means that everything the company does is motivated by a set of values and qualities. The company prides itself of being uniquely individual and highly professional. The company believes that profit is not an end in itself but a natural by-product of doing something good.

Communication: The first task of HR in turnaround is to open channels of communication. The best practice of HR is communication with employees and it should be a formal, focussed and ongoing responsibility. Open discussions between the employees and the management staff should be held on a regular basis. The Corporate Communications Department produces a number of house magazines that provide a forum for information sharing among employees and their families, highlighting individual and corporate achievements and fostering a strong sense of belonging. Interdependence: All HR practices should fit into an integrated framework so that strategy, structure and systems work together to promote maximum effectiveness and efficiency. Job evaluation exercises, revamping of the reward system and installation of a process for measuring key HR parameters that have a crucial impact on the business are some of the HR initiatives taken by the company. The companys Management Development Centre in Lonavala has faculties drawn from Indias finest management institutions, runs multiple training, core development and behavioural training programmes. Employees at a number of locations across the country avail of the computer-based self-study centres set up by L&Ts HRD Department.

17

SYNDICATE-The Journal of Business SAP HR: SAP HR refers to the broad access to a centralized database of human resources information, accessible and deliverable through web. SAP HR is an integration of all HR processes and employee related tasks through an electronic enterprise portal enabling, empowering and extending the HR function. The HR module of SAP includes recruitment, employee master data of current and past employees, career profiles, separation records, training and event management, leave management etc. The company has rebuilt its HR operations with standard and robust processes, rapid access to information, and efficient selfservices. The company uses a common HR platform to manage the complexities of multiple work calendars, job grades, and salary components. The improvements made by the company are measurable. Employees can go through all facets of the performance management system process cycle (including objective setting, training need identification, midterm review, and final appraisal). The company has also slashed the processing time for leave and vacation administration up to 90%, while HR can now generate needed reports within a few minutes instead of four or five days. AWARDS WON BY L & T The effectiveness of HR Practices in L & T has been validated by different third parties through awards and commendations. A few are mentioned below:

Asia Pacific HR Conclave Award for the company with Most Innovative practices

HR

National award for Best HRD Practices from Indian Society for Training and Development

National Award for Outstanding Work in Human Resource Management from National HRD Network

Award for Outstanding Human Resources Development from Confederation of Engineering Industry

Integration of Information Technology with HR in ECC Division has been recognised by the National HRD Network.

18

SYNDICATE-The Journal of Business Innovative HR PracticesTable Showing Descriptive Statistics for the Inventory of Organizational Innovativeness Factors and Overall Assessment Minimum Leadership Support Job Empowerment Individual Behaviour Work Integration Project Initiation Project Implementation Knowledge & Skills Information & Communication Innovation Effectiveness Organizational Effectiveness 1.75 2.57 2.20 2.00 1.75 2.67 2.20 2.00 1.75 1.00 1.00 Maximum 5.00 5.00 4.60 5.00 5.00 4.83 5.00 5.00 5.00 5.00 5.00 Mean 4.31 3.90 3.94 4.31 4.11 4.00 3.90 4.29 3.54 3.90 4.35 SD 0.78 0.71 0.45 0.70 0.85 0.61 0.76 0.71 0.83 1.17 1.08

FINDINGS OF THE STUDY The study has brought to light the following facts: The study reveals that the company adopts a secular approach to recruitment and Merit is the soul qualification. The study discloses that placement activity is undertaken by L & T at all over the country. Training is one of the strong points of L & T. The success of L & T as a forerunner in the entire gamut of private sector organizations integrating HRD as a part of its Corporate Strategy. Training has a positive and significant relationship with HRD dimensions in general. The study discloses that the Company newsletters include L&T News & Views, Powai Pageant, L&T Poclain News, The Earthmover, L&T Current Trends, Scroll, ECC Concord, and ECC News. The study discloses that the recruitment process in the management cadre is mainly done through advertisements.
19

is mainly due to its efforts in

SYNDICATE-The Journal of Business The study discloses the concept of reverse mentoring is filling the gaps of knowledge and skill of the older employees with regard to emerging trends. The performance evaluation in one company included both qualitative aspects and quantitative aspects. 70% of the evaluation was on quantifiable terms while 30% was for competencies like integrity, leadership, creativity etc. Performance appraisal works best when it is directly connected to the organizations strategic plan - when people see performance appraisal as the engine that helps the company achieve its goals. The study reveals that a strong customer-focussed approach and the constant quest for top-class quality have enabled the company to attain and sustain leadership in its major lines of business across several decades. The study identifies that the employees are innovative, entrepreneurial and empowered team constantly creating value and attaining global benchmarks. It is evident from the awards won by the company, that it has been adopting the most innovative HR Practices.

CONCLUSION In order to withstand global competition, best HR practices have a continuing and significant influence on employment and productivity. There is unlimited potential in HR that can be encouraged, developed and nurtured in a proper environment. It is evident that best HR practices will certainly help in marching ahead besides giving ample directions for others to emulate. The company, in spite of its diverse nature of operations, has blossomed and grown because of its people, who give more than 100 per cent of their time and energy. The company identifies human resource development as a strategic business activity. It believes that peoples contribution would be the main engine for growth and success. The number of adopted and implemented innovative human resource practices is important but only in a descriptive, non definite way. No inferences can be made with regard to trends, frequencies and cycles. It is clear from the study that the company appears to be innovative in the area of HR practices.

20

SYNDICATE-The Journal of Business

REFERENCES 1. IshwarDayal, PunamSahgal, Rashmi Jain, Parvinder Gupta &AlokSen (1996) Successful Applications of HRD Case Studies of Indian Organisations, New Concepts International Publishers, New Delhi. 2. Jain V.K., (1996) HRD Practices in Indian Industries Anmol Publications PVT LTD, New Delhi. 3. Rao T.V., Verma K.K., Anil K. Khandelwal, E. Abraham S. J. (1997) Alternative Approaches and Strategies of Human Resource Development Rawat Publications, Jaipur. 4. The Editor (1996) The Hindu Speaks on Management Volume I, Kasturi& Sons Ltd. Chennai. 5. HabibaHussain: Moving ahead with HR Practices HRM Review, The ICFAI University Press, October 2007. 6. Jagan Mohan Reddy A: Human Resources and Economic Development: Intricacies and Issues HRM Review, The ICFAI University Press, November 2006, pp 11 16. 7. Lewlyn L. R. Rodrigues and A. M. Chincholkar: Benchmarking the HR Practices of an Engineering Institute with Public Sector Industry for Performance Enhancement International Journal of Training and Development, Vol. 9, Issue 1, March 2005, Page 6. 8. Mamatha K and Venkataswamy G HR Practices in the Banking Sector HRM Review, The ICFAI University Press, October 2007. 9. PeriSastri N: Innovation in HR Practices BMA (Bombay Management Association) Review, March April 2003, pp 10 11. 10. SeemaBahuguna: Global HR Practices and Strategies HRM Review, the ICFAI University Press, August 2005, pp 41 46. 11. SireeshaMamidenna: High Performance Work Practices HRM Review, the ICFAI University Press, May 2005, pp 25 - 29. 12. Sumati Reddy: Best Practices in Human Resource Management HRM Review, the ICFAI University Press, December 2005, pp 45 53

21

SYNDICATE-The Journal of Business

CONSUMER BEHAVIOR TOWARDS TVS MOTORBIKES IN CHENNAI CITY

Dr. A. Vickram
Assistant Professor, Department of Commerce, Loyola College, Chennai

ABSTRACT Every possession is a statement. So are the two wheelers. In fact, two wheelers are more than that. A good-looking two-wheeler or motorbike not only impress others, but can go a long way in making life convenient. Motorized two wheelers make life a hassle free journey. The dynamics of the motorized two-wheeler industry in India make fascinating reading. From a semi luxury product for the urban middle class in the Eighties and earlier, the two-wheeler has now become not only the favorite form of personal transport but also the most coveted personal (household) possession among various consumer classes except perhaps the most affluent. Leading this emergent boom has been the stylish, fuel-efficient and sturdy four stroke motorcycle that seems to be equally at home on highways and rural byways. A two-wheeler is really a common mans vehicle offering an affordable solution for personal mobility. An individual chooses personalized transport, instead of public transport to a desired location in most of the situations. The easy maintenance, affordable price and ability to adjust in any kinds of road have made them dear to one and all. Keywords: Cubic capacity (cc), Horse Power (HP), emergent boom, fuel-efficiency

INTRODUCTION Everybody in this world is a consumer. We need a variety of goods and services right from our birth to the end. Varieties of consumers particularly in the transport and communication wing entirely depend on the quickest means of transport. Those who took to buy bi-cycling the distance found it quite in-convenient and added petroleum reservoir with more powerful chain and better hub. Several kinds of small petrol engines are marketed for this purpose and their

22

SYNDICATE-The Journal of Business use has become increasingly popular, especially among older people and those who regard a bicycle as no more than a convenience. The two-wheeler industry in India, over a long period of time was absolutely unimpressive and unspectacular. Although they existed for a little more than 2 whole decades, they had done practically nothing to captivate the imagination and mind of the consumer. Only towards the late seventies the Government recognized the need to satisfy, the growing demand in this field. The consumer till then was not getting the benefit of the latest development in engine technology from outside India, which resulted in a sizeable saving of fuel consumption. The Government not only permitted foreign collaborations in the field but also accorded all the important priority status to the two-wheeler industry. This paved the way for some large industrial houses to invest in the two-wheeler industry in India. Leading two wheeler manufacturers and market leaders in the world collaborated with some large industrial house in India and thus was born. TVS Motor Company Ltd. TVS motor company is one of the three companies that account for more than 80% of the industry. The company has 34% market share in domestic two-wheeler industry. TVS motor company (TMC) is present in three segments of the two-wheeler market viz; mopeds, vario-scooter and motorcycles. The company is Indias largest manufacturer of mopeds with the market share of 65%, and dominates the southern part of India. It is also a market leader in the fast growing vario-scooter market with a market share of 39%. NEED AND IMPORTANCE OF THE STUDY Over a million of people use two-wheelers to commute in the city of Chennai. For people from various background two-wheelers are the most preferred mode of transportation. Some of the popular brands are Yamaha, Hero Honda, Kawasaki and TVS motors. TVS motors occupy a dominant market share and therefore this study becomes important to study the consumer preferences and their satisfaction. Since TVS motor is one of the popular brands, the findings of the study can be generalized to a great extent.

23

SYNDICATE-The Journal of Business Needs and priorities of different consumer segments differ drastically. Present day consumers have wide range of transportation needs, and they take decision on how to spend their available resources such as time, money and effort on the modes and means of transport. OBJECTIVES OF THE STUDY 1. To analyze the consumer behavior towards TVS motor bikes 2. To study the reasons for purchasing a specific brand of two-wheeler. 3. To study the reasons for buying TVS bikes REVIEW OF LITERATURE Smith A, (1937) in his Wealth of Nations observes how important it is to take care of the interest of the consumers. Consumption is the sole end and purpose of all productions and the interests of the product ought to be attended to only as far as it may be necessary for promoting that of the consumer. Wilkie W, (1986) in his book entitled Consumer Behavior, stated that consumers overall evaluation of a brand depends upon the attitude they form towards that brand, often referred as brand attitudes. Rossiter J.R and Percy L., (1987) in their book Advertising and Promotion Management, stated that brand awareness often represents the consumers ability to identify or recognize the brand. Pillai R.S.N and Bagavathi, (1999) in their contribution Modern Marketing-Principles and Practices, have mentioned that buyer behavior is defined as all psychological, social and physical behavior of potential customers as they become aware of, evaluate, purchase, consume, and tell others about products and services. They have also concluded that while buying, a consumer is greatly influenced by his image of the brands of various competing sellers. The brand images are products personalities. For instance, design, color, package, price etc. can be a strong influence in determining a brands image. Philip Kotler, (2001) in his book Marketing Management, analysis, planning implementation and control, has explained that the essence of modern marketing lies in building of profit along with creating meaningful satisfaction for the consumers, whose needs and desires have to be coordinated with the set of products and production programmes. Therefore, marketing success of an enterprise depends on its ability to create a community of satisfied consumers. All the business activities should be carried out in ways which are directed towards the satisfaction of the consumer needs.

24

SYNDICATE-The Journal of Business Consumer decision to purchase a particular brand of motorcycle result to complex interplay of consumer variables, where the starting point for the company provides the decision process marketing stimuli in shape of brand, promotion, price and distribution strategy. Schiffman G. Leon, (2001) in his book Consumer Behavior, has pointed out that consumer behavior is affected by a host of variables ranging from personal, professional needs, attitudes and values, personality characteristics, social economic and cultural back ground, age, gender, professional status to social influences of various kinds exerted a family, friends, colleagues and society as a whole. The combination of these factors help the consumer in decision making further Psychological factors that as individual consumer needs, motivations, perceptions attitudes, the learning process personality characteristics are the similarities, which operate across the different types of people and influence their behavior. Methodology The present study is a categorical, analytical and empirical one, which evaluates the services offered by the dealers / showrooms on the view point of preferences and satisfaction of the consumers towards TVS Motorbikes in Chennai city, which forms the primary source. The primary sources of the study have been collected based on the structured questionnaire and some of the opinion collected from dealers and consumers. Selection of the sample Reckoning the objectives set for the study, the sample size or design is based on the data obtained from the consumers of TVS motor bikes, to ensure that respondents are spread throughout the Chennai city. The study has confined the sample size to 800. Out of 800 questionnaires, only 779 respondents filled up the questionnaires and returned them. After a detailed and a thorough scrutiny, 738 questionnaires were found to be suitable for the analysis. DATA ANALYSIS AND INTERPRETATION Age wise classification Age is an imp.ortant factor in determining the buying behavior of two-wheeler consumers. In the present study an effort has been made to know the age group of the respondents.

25

SYNDICATE-The Journal of Business

Table- 1 Age wise classification

S No. 1 2 3 4 5

Age group 18-20 21-30 31-40 41-50 51 and above Total

Frequency 59 451 111 88 29 738

Percentage 7.99 61.11 15.04 11.93 3.93 100.00

Source: Primary data

Regarding the age of respondents, most of the respondents are below 30 years of age. From the above table the researcher finds that majority of the respondents belongs to the age group of 21-30 which leads to 61.11% followed by 15.04% of the respondents fall under the age group of 31-40. 11.92% of the respondents belong to the age group of 41-50, 7.99% of the respondents fall under the age group category of 18-20 and 3.93% of the respondents come under the age group of 51 and above. Occupational Status The details about the occupations of the respondents are given in Table- 5.3. Based on the occupational status the respondents are grouped into the following categories- government employees, professional, students, private and self employed / business. Table- 2 Occupational Status

S.No. 1 2

Occupation Govt. Professional

Frequency 67 258

Percentage 9.08 34.96

26

SYNDICATE-The Journal of Business 3 4 5 Student cum part time earner Private Self Employed / Business Total Source: Primary data Of all the various classifications we find that the professional group seems to be quite attractive, their number being 258 making a percentage of 34.96%, 199 respondents (26.96%) belong to private category, while 111 respondents (15.04%) are self-employed and indulged in business. 103 respondents (13.96%) are student cum part time earner and 67 respondents (9.08%) are government employees. Bike Owned Classification A thorough understanding of the fast-changing consumer behavior, new market segments and product opportunities along with sensitivity to changing customer needs, form the core of TVS marketing strategy and philosophy. The company launched various models such as TVS Max 100, TVS Samurai, TVS Fiero, TVS Star, TVS Victor, TVS Centra, TVS Apache, TVS Flame etc. Table- 3 Bike Owned Classification S.No. 1 2 3 4 5 6 Bike Owned Max 100 Samurai Fiero Star Victor Centra Frequency 22 15 44 310 103 52 Percentage 3 2 6 42 14 7 103 199 111 738 13.96 26.96 15.04 100.00

27

SYNDICATE-The Journal of Business 7 8 Apache Flame Total 163 29 738 22 4 100.00

Source: Primary data Regarding the bike owned classification, since Star family motorbikes pack a more powerful punch with increased power and higher fuel efficiency with VTi technology, 310 consumers forming 42% own StaR City and StaR Sport. 163 consumers constitutes 22% own TVS Apache motorbikes for its best design and performance Out of 738 respondents, 103

respondents forming 14% own TVS Victor and 52 respondents constitutes 7% own TVS Centra. 44 respondents forming 6% own TVS Fiero and 29 respondents forming 4% own TVS Flame, 22 respondents forming 3% own TVS Max 100 and the remaining 15 respondents which forms 2% own TVS Samurai. Table- 4 Bike owned and Age Age 51 Bike owned 18-20 21-30 0 0 14 268 2 25 31-40 0 1 26 10 59 2 41-50 10 6 4 14 36 18 above 12 8 0 0 6 3 & Total 22 15 44 310 103 52

Max 100 0 Samurai Fiero Star Victor Centra 0 0 18 0 4

28

SYNDICATE-The Journal of Business Apache Flame Total 31 6 59 121 21 451 11 2 111 0 0 88 0 0 29 163 29 738

Source: Primary data Table - 5 Chi-Square Tests Asymp. Sig. Value Pearson Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases Chidf (2 sided)

794.833(a)

28

.000

659.326

28

.000

95.916

.000

738

17 cells (42.5%) have expected count less than 5. The minimum expected count is .59. Null Hypothesis (Ho): There is no association between the Bike Owned by the respondents and the age of respondents. Interpretation: Since the calculated vale is less than 0.05 the alternate hypothesis is accepted. It is inferred that there is significant association between the age of the respondents and the bike owned. From the frequency table it is evident that Youths prefer Fiero Bike.

29

SYNDICATE-The Journal of Business

Reasons for Buying Consumers often provide reasons or explanations for purchase and other decisions they make. Because explanations are so commonly needed, for others and for oneself, consumers are likely to anticipate having to give reasons at the time that they make their decisions. Table - 6 Reasons for Buying

S.No

Reasons for buying Necessity Convenience

Frequency

Percentage

1 2 3 4 5

465 227 29 15 2 738

63.01 30.76 3.93 2.03 0.27 100.00

Status Luxury Others Total

Source: Primary data Regarding the reasons for buying motorbikes vary due to various factors such as necessity, convenience, status, luxury, etc. Out of 738 respondents, 465 respondents (63.01%) stated that they purchased motorbikes due to necessity whereas 227 respondents (30.76%) opined that it is due to convenience. 29 respondents (3.93%) consider that having a motorbike is for status while 15 respondents (2.03) opined that it is for luxury. The remaining 2 respondents stated that for some reasons the user do not want to disclose the exact reason for buying the TVS bike which amounts to 0.27%.

30

SYNDICATE-The Journal of Business Table -7 Spearmans rank correlation Correlations Necessity Spearma n's rho Necessity Correlation Coefficient Sig. (2-tailed) N Convenience Correlation Coefficient Sig. (2-tailed) N Status Correlation Coefficient Sig. (2-tailed) N Luxury Correlation Coefficient Sig. (2-tailed) N Others Correlation Coefficient Sig. (2-tailed) N 1.000 . 738 .722(**) .000 738 .246(**) .000 738 .425(**) .000 738 -.082(*) .025 738 Convenience -.722(**) .000 738 1.000 . 738 -.432(**) .000 738 .399(**) .000 738 -.070 .058 738 Status .246(**) .000 738 -.432(**) .000 738 1.000 . 738 -.939(**) .000 738 .048 .191 738 Luxury .425(**) .000 738 .399(**) .000 738 .939(**) .000 738 1.000 . 738 -.055 .134 738 Others -.082(*) .025 738 -.070 .058 738 .048 .191 738 -.055 .134 738 1.000 . 738

Source: Primary data **Correlation is significant at the 0.01 level (2-tailed). *Correlation is significant at the 0.05 level (2-tailed). Inference: The above table indicates that the factor of necessity compared with other factors for buying the vehicle is significant at different levels of test as furnished above. Hence it is inferred that the necessity is the most influential factor in deciding the purchase of the vehicle.
31

SYNDICATE-The Journal of Business FINDINGS Regarding the age of respondents, most of the respondents are below 30 years of age. The researcher finds that majority of the respondents belongs to the age group of 21-30 which leads to 61.11%. The occupation has significant influence over the mode of purchase of the vehicle.Of all the various classifications, pertaining to occupational status we find that the professional group seems to be quite attractive, making a percentage of 34.96%. It is inferred that the necessity is the most influential factor in deciding the purchase of the vehicle. Regarding the reasons for buying motorbikes 63.01% stated that they purchased motorbikes due to necessity. SUGGESTIONS Customers differ in their purchase preferences. Consumers buy products for different reasons, they buy in different ways and use their purchases differently. Since there is enormous variability among consumers, TVS Motor Company needs to understand their requirements to be able to cater to them effectively. The bikes recently introduced by TVS are mostly concerned about youth. So, they should also consider middle aged people while manufacturing. The findings suggest that reliability, modern styling and economy are demanded by most of the users of TVS motorbikes.

CONCLUSION In a developing country like India, where a sizeable proportion of the population comprises of the middle class, and where 70% live in rural areas, a two-wheeler (particularly, a motorbike) is really a common mans vehicle offering an affordable solution for personal mobility. The conclusion being, that the 738 respondents have unequivocally persisted that the TVS motorbike is excellently accommodative and quite helpful to them. Any aberration from the

32

SYNDICATE-The Journal of Business above view have been mathematically attempted and conclusion given favorably indicating therein a hypothetical reasoning also. In India, we have a number of companies, which are really concerned about the societal wellbeing and are conforming to the principles of Quality-of-life marketing. Companies like Sundaram Fasteners, TVS Motors Etc. are a few examples, which have achieved the highest distinction in quality, i.e., the Deming Prize. This definitely proves their commitment to quality, customers, society and humanity at large.

33

SYNDICATE-The Journal of Business

REFERENCES

1. Smith A, Wealth of Nations,Rawdon House, New York, 1937, p.56 2. Wilkie W, Consumer Behavior, John Wiley and Sons Inc., New York, 1986, p.28 3. Rossiter J.R and Percy L., Advertising and Promotion Management, McGraw-Hill, New York, 1987, p.53 4. Pillai R.S.N and Bagavathi, Modern Marketing-Principles and Practices, S Chand & Company Ltd., New Delhi, 1999, p.19 5. Philip Kotler, Marketing Management, analysis, planning implementation and control, Prentice Hall of India Publishing, New Delhi, 2001, p.77 6. Schiffman G. Leon, Consumer Behavior Prentice Hall of India Pvt. Ltd., Delhi, G2001, p.19 7. RudraSaibaba, RanaPratap V and Vadde Suresh, Consumer Behavior Towards wheeler, Marketing Mastermind, April 2008, Vol.8, Issue No.4, p63-64 Two-

34

SYNDICATE-The Journal of Business

MODERN BUSINESS PRACTICES IN THE INDIAN NEWSPAPER INDUSTRY THE CHENNAI SCENARIO
Dr. Sandhya Rajasekhar
Assistant Professor, School of Communication & Media Studies, M.O.P Vaishnav College for Women, Chennai

Dr. Jaishree S
Associate Professor, School of Communication & Media Studies, M.O.P Vaishnav College for Women, Chennai

ABSTRACT The print industry in India is different from most markets in the world, in that the newspapers still remain pervasive and continue to form part of the Indian landscape. However, the year 2012, according to the FICCI-KPMG Indian Media and Entertainment Industry Report 2013, was the year when the going got tough and the tough got going with the Indian print industry growing by only 7.31 per cent as against Indias expectation of 8.32 per cent. In 2013, the growth of the industry is expected to be subdued and from mid 2014 onwards, gain momentum. A host of factors including the advent of the digital era are bottlenecks for the Indian print industry. The need of the hour is the adoption of a pragmatic approach through effective business practices.

Key words: Newspaper Industry, Growth, Business practices INTRODUCTION Indian newspapers, at over 233 years, are one of the oldest media businesses in India and continue to grow despite a world-wide fall in the growth of print markets due to decreasing subscription and lower advertising revenues. The size of the industry, which was Rs 108 billion in 2005, has been growing at 10 per cent on an average per year and is likely to reach Rs. 310 billion in 2015 (FICCI-KPMG 2012). According to a Government appointed Panel Report (2012), more than 78,000 newspapers are registered with the Registrar of Newspapers in the country.

35

SYNDICATE-The Journal of Business Rising literacy rates, a market with high potential given the current low newspaper penetration, low internet broadband penetration and strong home delivery business models, have helped in the healthy growth of Indian newspapers. The Indian newspaper industry today is witness to a steady rise in regional editions, with Hindi newspapers alone accounting for a close to 65 million daily readers (Business Standard, 2013). At the national level, English language dailies rule despite challenging times (Deloitte, 2013) and with 18 million daily readers, accounts for almost 40 per cent of print ad revenues. Hindi dailies account for about 30 per cent of print ad spends, and other Vernacular markets, the balance 30 per cent of ad revenues (Business Standard, 2013). Advertising revenues comprise 70 percent of newspaper revenues, and at 30 per cent, there is a relatively low contribution by subscription revenues owing to affordable cover prices. Established editions are looking to increase subscription revenues by launching new editions and higher cover prices. Spread out in several languages across Indian states, the print media is characterized by diverse patterns of ownership and structure. Nine major conglomerates hold most of the print and publishing business in India: Times of India Group, The Hindustan Times group, Indian Express Group, The Hindu group, AnandabazarPatrika Group, the MalayalaManorama Group, Sahara Group, Bhaskar group, and the Jagran group. Trends With more people preferring digital newspapers worldwide, the traditional print media is faced with the threat of losing its readership and also its advertising revenue. Technology fostered the growth of newspapers and now, it has spawned the era of e-newspapers. It is a scenario where newspapers have to compete with an adversary that offers services free of cost (L. Suresh, 2013). However, the steady growth of print media in India shows that the new media does not pose an immediate threat to the print media in India (All About Newspapers E Magazine, 2010). Several newspapers have launched local editions in regional languages, or focused on consolidating their position in major markets, as also bringing out new editions in these markets. Times of India, for example, has introduced new editions in Tamil Nadu, after establishing itself first in Chennai. An interesting development is the growing corporatization of the Indian media with large, nonmedia businesses acquiring direct and indirect interest in media groups. Within the media
36

SYNDICATE-The Journal of Business industry itself, Vertical expansion has resulted in a growing convergence between media content production and distribution. Cross media ownership or investment in other media like television, radio and the Internet is also seen as an option by major print media houses. Some have floated shares in public market and opened up to FDI (Foreign Direct Investment), in order to survive in the market. This trend has resulted in the adoption of a corporatized structure in these privately owned media houses. While earlier, there was a clear distinction between the corporates and media houses, things began to change from the 1970s with media houses adopting corporate principles in their business and content management. Indian newspaper houses have realized that they can no longer take revenue and readers for granted. With the changing, new scenario of competition for investors, readers and advertisers, (VanithaKohli, 2010), they recognize the need to adopt a pragmatic approach to growth through effective business practices.

The Chennai Scenario The Chennai English newspaper market is dominated by four players: The Hindu, The Times of India, Deccan Chronicle and The New Indian Express. Increase in competition among them has made it imperative for the four players to review their existing business models and focus on profitable growth by implementing cost control initiatives and adopting technology across key business performance areas, among others. An overview of some of the modern business practices followed by the major English newspapers in Chennai is presented below. Ownership Editorial separation: The Hindu With the goal to speed up their growth plans, the Kasturi and Sons family that owns and runs The Hindu decided to go in for a professional management structure. This was also the advice given to them in 2011 by McKinsey, a consulting firm (Anupama Chandrasekaran, 2012). Two important events resulted in the above decision: one, a power struggle within the family with the looming retirement of the editor-in-chief N.Ram, and two, competition in its home turf, Chennai, by The Times of India

37

SYNDICATE-The Journal of Business The most visible move towards professional management was the appointment of a non-family member, professional journalist SiddharthVaradarajan as the Editorial Head of The Hindu in 2011, something that the family run group had tried only once fifty years ago. The HinduBusiness Line, Frontline and Sportstar, sister concerns of The Hindu, also got nonfamily editorial heads. Arun Anant was appointed the first chief executive to take care of the growth plans on the business side, to boost circulation. Editorial focus content is king The Hindus content remained the same, with the values of serious journalism being top priority. New additions are Lifestyle supplements on music, fine arts, cinema and education. Page 3 journalism is as yet, taboo. The new editors focus is on strong fron t page stories, better news packaging, The Hindu in Education programme, more pictures and graphics. His touch is seen in the editorial and opted pages too. Podcasts in Tamil and Telugu are also used to reach the regional audiences. For its Chennai edition, Times of India preferred to focus more on civic and social issues than on politics. In 2007, The New Indian Express, Chennai, introduced Indulge, a 40 page Friday magazine supplement. Its city supplements were rechristened as City Express. The hugely popular edex, a 24 page education supplement was introduced in 2010. Human Resources Business departments like HRD have been given a longer arm, in line with the new managerial trend in The Hindu. The HR department has a major say in determining wages and salaries, in recruitment and selection and in planning and conducting training &development programmes. The Hindu, in its traditional and professional avatar is known for the several welfare measures that it has for its employees, present and retired. Marketing Management The Corporate Team in The Hindu takes care of marketing communications, market research, new media expansion strategies, and publicity. Bennett, Coleman & Company which owns the Times of India is known for its professional corporate approach towards running the countrys largest selling newspaper. It is probably one of the first to refer to its various publications as
38

SYNDICATE-The Journal of Business brands, and Branding is an important department in Times. The marketing strategy adopted by TOI at its entry into the Chennai market is now legendary, and shook the 134 year old Hindu out of its slumber. Pricing. Chennai has been witness to price wars among its three competitors- The Hindu, Deccan Chronicle and The New Indian Express- even before TOI made its entry into the citys English newspaper market in 2008. The Deccan Chronicle offered an unbelievable Rs.99/- for an annual subscription (Prajjal Saha and Sapna Nair, 2008). Times of India with its Rs. 300 annual subscription offer, forced The Hindu to reduce its prices for the weekdays. Distribution. While all the four English newspapers in Chennai have an efficient distribution system, TOI has gone a step further in practicing good public relations with newspaper agents. Sales promotion.TOI had two subscription schemes when it entered the Chennai market. The first scheme was a six month subscription at Rs.175 with the gift of a travel bag. The second offered a vacuum flask for a one year subscription at Rs 299.In their second year, TOI made a subscription renewal offer at Rs.299 for a year, without a free gift. Free samples were given to houses that did not subscribe, and renewal offers were made (Thomas K Joseph, 2010) Advertising. The war all boils down to sharing the advertising money. Post the arrival of Times of India in Chennai, The Hindu has followed a more flexible approach towards its advertisers. The Ford Fiesta ad in Metro Plus, for example, had the supplements content flowing around it. More significant was the use of a power jacket or false front page for advertising in The Hindu (Prajjal Saha and Sapna Nair, 2008). Advertisers grabbed the opportunity to innovate in print advertising (the Volkswagen ads for instance). The advertising battle between Times of India and The Hindu resulted in excitement and lively debates among readers in Chennai. Events The Hindu is well known for the prestigious events that it conducts annually. Some popular ones are: The Hindu Young World Quiz The Hindu Education Plus International Education Fair The Hindu Theatre Festival. The newspaper also sponsors The Hindu Literary Prize. The Hindu Bridal Mantra The Hindu PRESSENSE newspaper expo
39

SYNDICATE-The Journal of Business Corporate Social Responsibility Times of India set the trend in campaigns for educational, political, civic and social causes as part of their CSR. Some popular ones are Teach India, Aman Ki Asha, Lead India, young Leaders, Meter Podu and many more. Newspaper Design- A new look to meet new competition Recognized for its wide columns and verbose modular design, The Hindu went for a major change in design in 2005, to get a more modern-classical look, to meet the new competition in the form of Deccan Chronicle. In 2008, The New Indian Express geared up to the entry of TOI with a modern layout and redesigned the paper accompanied by heavy advertising. Expansion The Times of India soon launched new editions in Madurai, Trichy and Coimbatore, expanding its base in Tamil Nadu. It also entered the Kerala English newspaper scene with an edition in Kochi in 2012 (Anupama Chandrasekaran, 2012). After more than a century of its successful journey in the South, The Hindu is ready to enter the regional language newspaper market in September 2013 in Chennai, with a Tamil Daily, as yet unnamed.

CONCLUSION

With a wide-spread geographical reach extending to the regional and vernacular, an ability to create trust and achieve a higher attention span, the newspaper industry shows a positive potential for growth, thereby ensuring the prominence of print media in India (FICCI-KPMG Report 2013).The Chennai English newspaper scenario is evidence enough to show that the Indian print publishers recognize and effectively apply business practices that will help them gain more from their circulation, marketing and editorial efforts (Vanita Kohli, 2010). As the FICCI-KPMG Report 2013 states, the Indian print industry continues to be a promising long term growth story.

40

SYNDICATE-The Journal of Business

REFERENCES

1. Print media to grow at 17% CAGR during Y13-15: Report, Business Standard, August 21, 2013. http://www.business-standard.com/article/companies/print-media-to-grow-at-17-cagrduring-fy13-15-report-112122600124_1.html 2. Govt appointed panel reports print industry is not facing any immediate threat, All About Newspapers, E Magazine, Vol. 7, No. 5, Sep Oct 2010. www.allaboutnewspapers.com/ 3. Corporatization of Indian media and Media Ownership structure, 4. Corporatization of the media, http://www.managementstudyguide.com/corporatization-ofmedia.htm 5. The power of a billion: Realizing the Indian dream- FICCI-KPMG Indian Media and Entertainment Industry Report 2013, kpmg.com/in 6. Technology, Media & Telecommunications India Predictions 2013,

http://www.deloitte.com/assets/DcomIndia/LocalAssets/Documents/TMT%20predictions% 202013/TMT _India_Predictions_2013_Media.pdf 7. Anupama Chandrasekaran (2012), The changing face of The Hindu, livemint&thewall street journal, http://www.livemint.com/Companies/57i93M8ugb8XwTQgJ3pxaI/The-changing-face-of8216The-Hindu8217.html. March 20, 2012. 8. Prajjal Saha and Sapna Nair (2008), Battleground Chennai: The war begins (Part I), afaqs! agencyfaqs!, New Delhi, Mumbai and Chennai, http://www.afaqs.com/news/story/. May 12, 2008. 9. Joseph, Thomas K (2010), A study on distribution channel adopted by the Times of India to its existing customers at Chennai, Dissertation submitted to Tripura ICFAI University. 10. Sanjiv Shankaran (2005), How Deccan Chronicle Stormed Chennai,rediff NEWS, http://www.rediff.in/money/2005/may/04spec3.htm. May 4, 2005.

41

SYNDICATE-The Journal of Business 11. Purba Das (2012), TOI-Hindu ad war heats up placid Chennai, The Sunday Guardian, http://www.sunday-guardian.com/business/toi-hindu-ad-war-heats-up-placid-chennai. 29th January 2012. 12. Vanita Kohli-Khandekar (2012),The trouble with English papers, http://www.business-standard.com/article/opinion/vanita-kohli-khandekar-the-troublewith-english-papers-112022800085_1.html. 28 February 2012. 13. T E Narasimhan and GireeshBabu (2013), The Hindu readies for a Tamil avatar, http://www.business-standard.com/article/companies/the-hindu-readies-for-a-tamilavatar-113071701184_1.html. 17 July 2013. 14. L Suresh (2013), Time, Technology and Change, The Hindu, August 22, 2013. 15. VanitaKohli-Khandekar(2010), The Indian Media Business, SAGE publications, New Delhi. http://www.viewpointonline.net/corporatization-of-indian-media.html

42

SYNDICATE-The Journal of Business

STRESS MANAGEMENT
Ms. R.A. Rabika Begum
Associate Professor, Department of Corporate Secretaryship, M.O.P Vaishnav College for Women, Chennai

Mr.A.Mohamed Iqbal
General Manager (Marketing), Senlogic Automation Pvt.Ltd, Chennai

ABSTRACT The way your body responds to the demands of your life style i.e., the effects of wear and tear on your body.

Most people think of stress as a mental state but it is in fact, very largely, a physical condition. When a person is subjected to a stress- producing effect known as stressor (a challenge, pressure, stimulus, external influence, etc.) it is registered in the brain. The brain gives various parts of the body instructions for a chain of reactions known as stress reaction or stress response. The information in this article has been compiled to provide information and about stress, the effects of stress, and the most popular stress management and relaxation techniques that are being education used today. This information could be helpful for people who want to learn how to react to stress in a more constructive, proactive way. The basic premise of this article is that the benefits of stress reduction and relaxation techniques can be best noticed after they have been practiced regularly over a period of time.
Key words: Stress, Distress, Symptoms, Plan

INTRODUCTION Although we all talk about stress, it often isnt clear what stress is really about. Many people consider stress to be something that happens to them, an event such as an injury or a job loss. Others think that stress is what happens to our body, mind, and behaviour in response to an event (E.g. heart pounding, anxiety, or nail biting). While stress does involve events and our
43

SYNDICATE-The Journal of Business response to then, these are not the most important factors. Our thoughts about the situations in which we find ourselves are the critical factor. Stress can be a result of both positive and negative experiences, and it is a necessary part of our daily lives. From an evolutionary standpoint stress was necessary for survival (i.e., imagine hunting large prey on which ones entire tribe is dependent) and some stress continues to be a helpful part of our modern lives since it motivates us to accomplish tasks or make needed changes. We all feel the pressure of our environment during times of transition (i.e., at the time of high school graduation) and in preparation for significant life events (i.e., in anticipation of a job interview). Although response to stress is often adaptive (i.e., feeling stress before an exam may be a critical motivator in studying for it), too much stress or an inability to cope with it can cause negative emotional and physical symptoms, including, but not limited to, anxiety, irritability, and increased heart rate. Stress versus Distress Although some stress is a natural and inevitable part of our lives, feeling burdened or unable to cope can be problematic and can seriously affect your mental and physical well-being.3 constantly being exposed to stressful situations can be over-stimulating and if we are constantly feeling stressed, we may begin to feel unable to manage the problems at hand. In order to avoid situations in which we feel overloaded, we must first identify what stresses us, what our threshold for stress is, and how we can most effectively manage stressful situations. Sources of stress We can experience stress from four basic sources: The Environment the environment can bombard you with intense and competing demands to adjust. Examples of environmental stressors include weather, noise, crowding, pollution, traffic, unsafe and substandard housing, and crime. Social Stressors we can experience multiple stressors arising from the demands of the different social roles we occupy, such as parent, spouse, caregiver, and employee. Some examples of social stressors include deadlines, financial problems, job interviews,

44

SYNDICATE-The Journal of Business presentations, disagreements, demands for your time and attention, loss of a loved one, divorce, and co-parenting. Physiological Situations and circumstances affecting our body can be experienced as physiological stressors. Examples of physiological stressors include rapid growth of adolescence, menopause, illness, aging, giving birth, accidents, lack of exercise, poor nutrition, and sleep disturbances. Thoughts Your brain interprets and perceives situations as stressful, difficult, painful, or pleasant. Some situations in life are stress provoking, but it is our thoughts that determine whether they are a problem for us. Types of Stressors Situations that are considered stress provoking are known as stressors. Stress is not always a bad thing. Stress is simply the bodys response to changes that create taxing demands. Many professionals suggest that there is a difference between what we perceive as positive stress, and distress, which refers to negative stress. In daily life, we often use the term stress to describe negative situations. This leads many people to believe that all stress is bad for you, which is not true. Positive stress has the following characteristics: Motivates, focuses energy Is short-term Is perceived as within our coping abilities Feels exciting Improves performance

In contrast, negative stress has the following characteristics: Causes anxiety or concern Can be short or long-term Is perceived as outside of our coping abilities Feels unpleasant
45

SYNDICATE-The Journal of Business Decreases performance Can lead to mental and physical problems

Signs and Symptoms of Stress Overload It is important to learn how to recognize when your stress levels are out of control or having an adverse effect. The signs and symptoms of stress overload can be almost anything. Stress affects the mind, body, and behavior in many ways, and everyone experiences stress differently. Three common ways that people respond when they are overwhelmed by stress are: 1. An angry or agitated stress response. You may feel heated, keyed-up, overly emotional, and unable to sit still. 2. A withdrawn or depressed stress response. You shut down, space out, and show very little energy or emotion 3. Both a tens and frozen stress response. You freeze under pressure and feel like you cant do anything. You look paralyzed, but under the surface you may feel extremely agitated. The following lists some of the common warning signs and symptoms of stress. The more signs and symptoms you notice in yourself, the closer you might be to feeling stress overload. Cognitive Symptoms: Memory problems Inability or difficulty concentrating Poor judgment Seeing only the negative Anxious, racing, or ruminating thoughts Constant worrying

Emotional Symptoms: Moodiness Irritability or short-tempered

46

SYNDICATE-The Journal of Business Agitation, inability to relax Feeling overwhelmed Sense of loneliness or isolation Depression or general unhappiness

Physical Symptoms: Aches and pains, muscle tension Diarrhea or constipation Nausea, dizziness, or butterflies in the stomach Chest pain or rapid heartbeat Loss of sex drive Frequent colds Shallow breathing and sweating

Behavioral Symptoms: Eating more or less Sleeping too much or too little Isolating yourself from others Procrastinating or neglecting responsibilities Using alcohol, cigarettes, or drugs to relax Nervous habits (nail biting, pacing)

Keep in mind that the signs and symptoms of stress also can be caused by other psychological and medical problems. If youre experiencing any of the warning signs of stress, its important to see a doctor for an evaluation. Your doctor can help you determine whether or not your symptoms are stress related Stress Management in the Workplace Job stress is a common and costly problem in the American workplace, leaving few workers untouched.

47

SYNDICATE-The Journal of Business 1. A recent American survey, published in the Journal of Occupational and Environmental Medicine, noted that for those working 12 hours a day, there was a 37% increase in risk of illness and injury in comparison to those who work fewer hours. 2. A study done by Northwestern National Life, reports that one-fourth of employees view their jobs as the number one stressor in their lives. 3. A St. Paul Fire and Marine Insurance Co. study concluded that problems at work are more strongly associated with health complaints than any other life stressor, even financial or family problems. Stress in the workplace frequently hits you with a double whammy of two-way pressures that come from a combination of both internal and external stressors. Stress results in decreased job satisfaction, reduced production, and increased conflicts, which all lead to you guessed it more stress! When you ignore stress signals, you are more liable to become ill or fatigued and to experience injury. As an employee, there are several steps you can take to preserve your health by reducing workplace stress. ExternalStressors Frequently employees tend to ignore problems created by external stressors because they feel that the problems are trivial, petty, or dont (or wont) merit the attention of the employer. However, often these problems have an easy solution. For instance, stress can be caused by something that seems as trivial as an incorrectly positioned chair or computer screen. Other examples of external stressors include loud or continuous noise, nosy or noisy co-workers, demanding bosses, and complaining customers. If external stressors are causing problems for you, the worst thing you can do is ignore them. Identifying and examine external stressors for possible solutions. Even if all of them arent resolved, any positive change you will result in a happier, healthier you. Internal Stressors Internal stressors are not workplace problems by perceptions. Some examples are feelings of dissatisfaction, irritability, inability, and the feeling that your efforts arent properly rewarded or recognized. One helpful way to reduce internal stress is to remember what you liked about

48

SYNDICATE-The Journal of Business your job when you started it. Consider what has changed as well as what needs to change for you to be satisfied in your position again. Why are you working? Work is the exertion of undertaking mental or physical activity for a purpose or out of necessity. It is also defined as proceeding along a path towards a goal. Most workplace stress starts when we lose sight of the necessity of our work, the purpose of our job, and/or our goals. You can reduce much of your stress and regain your perspective by redefining why you are working. Change your focus you may not be able to cut back on hours at work, but you can work to live and not live to work. Because of the number of hours many employees work per week, the job can easily become all-encompassing. We wake and get ready for work, drive to work, spend eight or more hours at work, and finally drive home from work. As you can see, although we arent getting paid, we are at work for much longer than eight hou rs a day! Learning to keep work in focus during work hours and life in focus after hours will take you a long way towards managing workplace stress. Family Stress Management Bills, kids, household chores, spousal relationships all can cause family stress. In addition to day-to-day stressors, crises like a fire or a death within the family place maximum stress on family relationships. However, learning to cope with daily family stress strengthens your family and makes it easier to cope with family crisis as well. The Strong Family Unit Especially these days when both partners in a family have careers and children are involved in diverse extra-curricular activities, its very easy for the family unit to break down, resulting in a number of separate individuals living under one roof. Each individual becomes isolated, facing his/her own problems and left to solve them on their own. Abraham Lincoln said, A house divided against it cannot stand. Although he was talking about the US in time of Civil War, for families his statement is literally true. Unfortunately, stress for one member of a

49

SYNDICATE-The Journal of Business family stresses and often divides the entire family. When one part is stressed, the whole unit can collapse. The solution is to work through problems as a family, but for the solution to be effective, the family unit needs to be strong. Take Time for the Family Family togetherness doesnt mean constantly holding hands. Neither does it mean that if Jimmy and Dad like football, Mom and Suzy have to like it, too. The phrase quality time has become trite with over-use, but it is quality time spent together that reduces daily family stress and builds strong families that can weather both small storms and large crises. 1. Working at household chores together. Completing simple household chores as a family has several advantages. Doing dishes, raking the yard, spring cleaning, or holding a garage sale offers the family time to communicate, lightens the load for individual family members, and lets individuals build skills and self-esteem. 2. Share a meal. Share at least one meal each day. Albeit, dinner time these days is often hectic with individuals having conflicting work and activity schedules. If this is true in your family, start having family breakfasts. Mealtime is a great time to tune into individual schedules and plan family activities. If you cant do it everyday, schedule it as a regular family event. 3. The family event. A special activity can be as complex as a family vacation or as simple as, a trip to the local park or just a family movie night. Plan the activity as a family and make the activity an event where each member contributes to making it a successful and enjoyable occasion. (Simple Example- Family Movie Night - Make a list of movies that you all want to see. Then, choose one of them scheduling a specific night and time for the event. That night, Mom washes the dishes, Jimmy wipes, Suzy pops the popcorn, and Dad goes to pick up the movie.) Managing Family Stress A strong family unit develops the tools to solve stressors, reducing stress for the entire family. Problems that stress families may be either individual stressors that carry over to the whole family such as school suspensions, addictions, mental disorders, or physical illnesses or family crises such as a death in the family, financial problems, tornado or fire.
50

SYNDICATE-The Journal of Business When managing individual stressors that affect the family, keep a few tips in mind: 1. Dont avoid discussion. If its a problem for you or a problem that you notice is causing stress in another family member, chances are its a stressor for the entire family as well. Talk it out and work towards finding a solution. 2. Dont trivialize. Whether the problem is as significant as a spouse losing a job or as unimportant to you as the death of your daughters pet frog, the problem is a stressor for the individual that can ultimately cause stress for the family. Let the individual talk it out, be a good listener, and show them that solving the problem is important to the family. 3. Dont lay blame. When theres a problem it really doesnt matter whos at fault. Define the problem and work towards a solution. 4. Respect privacy. If a family member brings a problem to you in confidence, respect it. Dont air it for discussion without their agreement. If you are unable to agree to keep the confidence, be honest in your refusal. In summary, building a strong family unit that effectively manages day-to-day stressors not only makes your home a place for each member to relax, recharge, and rejuvenate but also builds the skills necessary for the family to come together in a crisis and effectively manage family stress. Effects of Stress The effects of stress can dramatically impact our lives for better or worse. That extra rush of adrenalin, released during acute stress gives us a needed burst of speed when we flee from danger or an extra surge of power when we decide to stand and fight. However, when we fail to release stress by coping with lifes situations, it builds up until we either explode or collapse. The consequences of stress can cause specific disorders in both mind and body. In addition to raising levels of the stress hormones, adrenaline and corticosterone (lately much talked about as cortisol), a buildup of stress can cause headaches, digestive problems, eating disorders, insomnia, fatigue, and lower our resistance to other illnesses like colds and flu.
51

SYNDICATE-The Journal of Business When we are deluged by a sequence of stressful situations, our bodies dont have time to adjust and our minds dont have to make the decisions necessary to deal with stress in a healthy manner. This is episodic stress. Over time, unrelieved stress, like episodic stress, can result in increased heart rate, respiration, and blood pressure, which in turn put undue stress on bodily organs such as the heart and lungs. Eventually our body gives up the fight; unable to flee from our problems we develop more significant problems like heart disease, high blood pressure, stroke, and other illnesses. Emotionally, stress can near literally burn us out. Long-term stress becomes chronic stress. Stress becomes inconspicuous, hiding behind feelings of hopelessness, constant anxiety, depression, and in severe cases serious mental aberrations such as paranoia and delusions. Of course, the worst-case consequence of stress is suicide. Just as each individual differs from the next in his or her responses, there is no set limit as to how much stress each of us can endure. Each of us seems to be endowed with our own stress thermometer. When the mercury rises or plummets, in order to stay healthy we need to have a planned strategy to manage stress. Knowing and using a few stress management tips can make all the difference in the consequences of stress. This Chart shows the details of Stressment areas:
120 100 80 60 40 20 0

52

SYNDICATE-The Journal of Business The Stress Management Tips Know what stresses you most. Not your co-worker, friend, husband, or wife. YOU!! Get your feelings out. Write them out and describe each situation. Share all bad feelings with a friend or in a journal. Before you can conquer your stresses you must know what is stressing you. Say no. Focus on you own goals, not your spouse's or parents'. You must know yourself, your dreams, and your passions. If asked to chair another group or take on another responsibility, look at your mission statement or goals for the day. If it is does not fit it there say thank you but I just cannot. Saying no is one of the hardest things in life, but will help make you a success in your chosen field. Learn to relax. Work hard but know when to take time off to be with the family, go to the beach, or read a book. Work all day if you must but when you get home play in the snow, watch cartoons, or tell your child a story. This allows stress tension to go away and helps you calm the heart's pace and digest food normally, and protect your immune system. Learn to meditate and take deep breaths to calm down. Eat healthy. Eat less junk food and more fruit and vegetables for an amazing overall lowering of stress levels. We can actually lower the amount of the bad stress hormone, Cortisol, by taking vitamins. Take those vitamin pills daily. Keep laughing. Keep a sense of humor. Studies show a good attitude helps lower cancer rates, makes surgery more effective, and keeps a relationship together through hard times. Ask yourself WHY. Why are you doing this? Write down your wants, needs, goals, hopes, and dreams. Does what you are doing now help you get fulfill any of these things? What is your motivation? The more you understand why you doing what you are doing the less stress you will have. If you cannot come up with a good reason, then stop doing it. Stay active. Exercise is a great way to relive tension and gives you a great break from exams. A healthy body makes a happy body. Even a three minute jog is helpful at taking your mind off your pressures. You'll come back with an acute focus and renewed energy. Follow your bliss. Try to know which subjects and type of people you enjoy. Structure your life around activities that you love. Joseph Campbell, a wise philosopher, advises you to

53

SYNDICATE-The Journal of Business follow your bliss. The more you do in life that goes with your own flow, the more passion you'll have for what you do. Organize and Prioritize. Do the worst and hardest tasks first. Keep a to-do list and calendar with you at all times. If you fail to plan, you plan to fail.

54

SYNDICATE-The Journal of Business REFERENCES

1. Danieli, Y., Rodley, N.S., & Weisaeth, L. (Editors). (1996). International responses to traumatic stress. Amityville, NY: Baywood. 2. Cooper C., Palmer S. (2000) Conquer Your Stress, Chartered Institute of Personnel and Development. 3. International Journal of Stress Management, Editor: Sharon Glazer ISSN: 1072-5245, eISSN: 1573-3424 4. Taylor, S.E., 1999, Health Psychology (Fourth Edition), McGraw-Hill, Singapore 5. http://www.mindtools.com. 6. http://stresscourse.tripod.com/id27.html

55

SYNDICATE-The Journal of Business

BUSINESS OPPORTUNITIES IN THE TEXTILE SECTOR

Dr.S.Anurekha
Associate Professor, School of Communication and Media Studies, M.O.P Vaishnav College for Women, Chennai

Ms.VyjayanthiKrishnaswamy
Associate Professor, School of Communication and Media Studies, M.O.P Vaishnav College for Women, Chennai

ABSTRACT The Indian textile industry is all set for spectacular growth, buoyed by both rising domestic consumption and increasing export demand. Abundant availability of raw materials such as cotton, wool, silk, jute and man-made fibers coupled with skilled workforce has made India a most sought after sourcing hub for textiles. The growth and all round development of this sector has a direct bearing on the improvement of the economy of the nation. With the increase in Government incentives to promote the industry such as 100% FDI, the day is not far off when India will become an irresistible destination to global fabric firms. Key words: Textile, FDI, Textile exports, Government initiatives, Textile innovations, Business opportunities

INTRODUCTION India is one of the world's largest producers of textiles and garments. The potential size of the Indian textile and apparel industry is expected to reach US$ 221 billion by 2021. Textile industry has made a major contribution to the national economy in terms of direct and indirect employment generation and net foreign exchange earnings. The sector contributes about 14 per cent to industrial production, 4 per cent to the gross domestic product (GDP), and 17 per cent to the country's export earnings. It provides direct employment to over 35 million people. The textiles sector is the second largest provider of employment after agriculture.

56

SYNDICATE-The Journal of Business Availability of almost all the essential raw material for the industry in abundance is an exclusive advantage to India. India is the largest producer of jute, the second-largest producer of silk, the third-largest producer of cotton and cellulosic fibre/yarn and fifth-largest producer of synthetic fibres/yarn. The Indian textile industry accounts for about 23 per cent of the worlds spindle capacity, making it the second highest after China, and around six per cent of global rotor capacity. Also, it has the highest loom capacityincluding hand loomswith a 61 per cent share. India accounts for about 12 per cent of the worlds production of textile fibers and yarns. This includes jute, of which it is the largest producer. GOVERNMENT INITIATIVES The Governments role in the textile industry has become more reformist ever since 2000 The Textile Policy of 2000 set the ball rolling for policy reforms dealing with removal of raw material price distortions, cluster approach for power looms, pragmatic exit of idle mills, modernisation of outdated technology etc. The removal of the SSI reservation for woven apparel in 2000 and knitted apparel in 2005 were significant decisions in promoting setting up of large-scale firms. Government schemes such as Apparel Parks for Exports (APE) and the Textile Centres Infrastructure Development Scheme (TCIDS) provide incentives for establishing manufacturing units in apparel export zones. The Government has announced many incentives, including tax exemptions, to the textile and garment industry in the Union Budget 2013-14.Technology Upgradation Fund Scheme (TUFS) to continue in 12th Plan with an investment target of Rs 151,000 crores (US$ 27.58 billion) FDI IN TEXTILE SECTOR India has emerged as a promising destination to many international firms with its most liberal initiative to permit100% FDI in the textile sector under the automatic route. FDI in sectors permitted under automatic route does not require any prior approval either by the Government of India or Reserve Bank of India (RBI). The investors are only required to notify the Regional Office concerned of RBI within 30 days of receipt of inward remittance.Besides,the Ministry of Textiles has set up an exclusive Cell to attract FDI in the textile sector.

57

SYNDICATE-The Journal of Business According to the textile industry experts, there will be 5-7 percent increase in foreign direct investment (FDI) with global brands such as Walmart, Hennes and Mauritz group (H&M), IKEA and Tesco planning to invest in Indian retail segment. Foreign brands present in India have, over the years, increased their sourcing from India and also set up their own back-end manufacturing infrastructure. With increasing competition from other global brands, the pressure on price will increase further, and force brands to look for ways to cut their costs. Also, large foreign brands and retailers bring with them their best practices in supply chain, manufacturing and product design & quality. This will help Indian SMEs to upgrade their manufacturing setup and knowhow in terms of products, designs EMERGING OPPORTUNITIES IN THE TEXTILE SECTOR The abolition of global textile quota system from America has made the big players of the industry to restructure their business again to survive in the strong competition of the American apparel market. The global textile and clothing industry is estimated to be worth about US$ 4,395 bn and currently global trade in textiles and clothing stands at around US$ 360 bn. The US market is the largest, estimated to be growing at 5% per year, and in combination with the EU nations, which account for 64% of clothing consumption. At the global level, Indias textile exports account for 4.72% of global textile and clothing exports. Highly sensitive to the expanding global opportunities, the Indian textile sector has geared up its efforts towards creating joint ventures aimed at supplying international markets.

The largest overseas buy was made by Gujarat Heavy Chemicals (GHCL), which purchased US-based textile major Dan River for about Rs 80 crore, along with control on its manufacturing units in China and Pakistan. The acquisition enables GHCL to operate the existing marketing arrangements of $250m and use the US-based company as a marketing arm.Chennai-based Celebrity Fashions acquired an export oriented unit of the Ambattur Clothing (ACL). ACL, incidentally, has a unit in Bahrain and is in the process of getting into

58

SYNDICATE-The Journal of Business high value products through the acquisition of a garment unit in Egypt Institutional investors have also actively put in their money into textile companies. Marking the largest private equity investment in the industry, Citigroup's venture capital arm has invested Rs 81 crore in Spentex Industries Citigroup also has 7% equity in the Ludhiana-based terry towel

manufacturer, Abhishek Industries, for Rs 45 crore. . A Mauritius-based fund, New Vernon Bharat invested Rs 25 crore in Celebrity fashions, to pick up a 19% stake and Reliance Capital picked up 5% in the company. India's largest textile company Raymond, has entered into a 50:50 Joint Venture with Belgian firm, UCO for denim. The JV will facilitate operations spread across three countries Belgium, Romania and India with a global marketing network. Maharashtra has attracted Rs 3,834 crore (US$ 700.03 million) investments in 411 new textile projects, due to the new textile policy, as per Mr.Arif Naseem Khan, Minister for Textile, Maharashtra

CONCLUSION

The reasons for Indias immanent success in the textile sector are not hard to find. Apart from China, no other country can match the size, depth, spread and competitiveness of the Indian textile and apparel industry. India has a complete supply chain from a vast raw material supply to high quality finished products. Labour costs are among the lowest in the world. Indian firms offer experience, entrepreneurship and design skills which Chinese firms find hard to match

Leading foreign retailers and apparel brands are taking advantage of Indias strengths as an alternative to China and other countries. Well-known names include Carrefour, Decathlon, Gap, H&M, JC Penney, Levi Strauss, Marks & Spencer, Metro Group, Nike, Reebok, Target, Tesco, Tommy Hilfiger and Wal-Mart. In the post-quota era, these and new players will turn increasingly to India for their sourcing requirements.

The Indian textile industry is also highly versatile: Smaller firms offer the flexibility needed
59

SYNDICATE-The Journal of Business for smaller orders whereas giant firms have the capacity to service the worlds biggest buyers. The climate is most conducive. The market-sensitive initiative of the Indian government has set the stage. China, our closest competitor, is exiting some of its textile sector. There are strong indications that spinning industry is moving from China to India. Major opportunities are coming our way. And the countdown begins .The industry is well equipped to face the challenge and should exploit the opportunity to the advantage of India in such a crucial time as this and make a significant contribution to the nations turnaround.

60

SYNDICATE-The Journal of Business

REFERENCES

1. Directive 2008/121/EC of 14 january 2009 on textile names (Official Journal L 19, 23.01.2009 p.39) 2. Directive 2007/4/EC of 2 February 2007 amending for purposes of its adaptation to technical process, Annexe II to Directive 96/73/EC of the European Parliament and of the Council on certain methods for quantitative analysis of binary textile fibre mixtures (Official Journal L28 of 3.2.2007 p.14-18) 3. Journal of Cotton Science [referred journal Location: http://www.cotton.org/journal/index.cfm 4. Journal of Textile and Apparel Technology and Management Location: http://www.tx.ncsu.edu/jtatm/ 5. US Exports of Textile and Apparel Products, The office of Textile and Apparel, International Trade Administration, US Dept. of commerce http://oxtexa.ita.doc.gov/scripts/tqexp.exe 6. http://www.craftcreativitydesign.org/common-threads-innovative-textile-practices-inIndia-western-north-Carolina/ 7. http://webecoist.momtastic.com/2012/11/12/eco-fabric-14-strange-and-amazing-textileInnovations/ 8. http://www.indiantextilemagazine.in/events/tai-national-textile-seminar-2013/ 9. http://www.fabriclink.com/Consumer/TopTen-2012.cfm 10. http://www.indiantextilemagazine.in/events/tai-national-textile-seminar-2013/

61

SYNDICATE-The Journal of Business

IMPACT OF SOCIAL MEDIA IN THE FIELD OF PUBLIC RELATIONS AND CORPORATE COMMUNICATIONS
Ms.Manjula.Venkataraghavan
Assistant Professor, School of Communication and Media Studies, M.O.P Vaishnav College for Women, Chennai

Dr. R. Preetha
Assistant Professor, School of Communication and Media Studies, M.O.P Vaishnav College for Women, Chennai

ABSTRACT

Today companies across the world are adopting and adapting social media as a strategic tool to attain a variety of business goals, be it consumer relations, corporate communications, public relations, marketing, internal communications, customer research, etc. Social media has not only enabled public relations and corporate communication personnel to communicate directly with all stakeholders, but has also changed the ways in which corporates interact with media, which holds a significant hold on public opinion. Researchers in this area have come up with viable models to help organizations to infuse social media as a strategic tool for their marketing or pr purposes. This paper is an overview on the impact of social media in the field of public relations and corporate communications

Keywords: Social media, corporate communication, Public relations,

INTRODUCTION In todays corporate world, the success or failure of any company depends on public perception. The new media technologies especially Facebook, Twitter and other Web 2.0 social networking tools are becoming mainstream methods of communication in all walks of life especially in relation to the public relation and corporate communication activities. It has revolutionized corporate communications, rapidly changing the way stakeholders and companies communicate.
62

SYNDICATE-The Journal of Business

According to (Wright and Hinson, 2012), the new emerging and social communication media have brought many dramatic changes to many aspects of the field. The development of various new technologies have significantly empowered a wide variety of strategic publics by giving them dynamic new media that many are using to communicate effectively with a variety of internal and external audiences.

Unlike the traditional method of pure output, social media has forced corporate communications to initiate a dialogue in which the stakeholders, and not just the companies, have power over the message. It also has become critical and challenging for many organizations to not just attain economic goals but also ensure that the public, internal and external, see them in a positive light. Public relations in the traditional sense seen by many as smoke and mirrors, deceptive messages being created by spin doctors. Because of this, many people have come to mistrust media the traditional means by which the industry is measured and put more trust in the opinions of their peers, which they have access to on social media sites Woolf, (2009).

Social media not only offers an opportunity for direct and instant corporate communication, but also an opportunity to get back to the ideal basics of public relations building and maintaining relationships and to change some of the negative stereotypes typically associated with the industry.

PUBLIC RELATIONS AND CORPORATE COMMUNICATIONS

Public relations is the art and science of building relationships between an organization and its key audiences. It is the ability of a business to build key relationships between its organization and its audience. Public relations is a strategic communication process that builds mutually beneficial relationships between organizations and their publics Public Relations Society of America, (2012).

63

SYNDICATE-The Journal of Business According to Rensburg& Cant (2002) public relations evolved over many years, but only recently during the last decades of the previous century became more prominent in the corporate world. Dolphin (2000) argues that corporate communication has originated from public relations. The aim of public relations is to create, develop and multiply the relations between organizations and their communities. The relations are characterized as a set of expectations shared by all parties with respect to mutual behaviour Kim and Rader (2010). Corporate communications is the strategic management process by which an organization communicates with its various audiences to the mutual benefits of both and to its improved competitive advantage. Corporate communication encapsulates the functions of public relation. It comprises of various sub disciplines of communication within organizations, such as managerial communication, organizational communication, public relations and marketing communication. Argenti and Forman define corporate communication as a companys voice and image, which the company develops on the world stage consisting of various audiences. This field includes such components as corporate reputation, corporate advertising and advocacy, communication with employees, relations with investors, relations with the government, media relations and crisis communication Argenti, Paul and Forman Janis (2002).

SOCIAL MEDIA: THE GAME CHANGER

Social media is the collective of online communications channels dedicated to community-based input, interaction, content-sharing and collaboration. Websites and applications dedicated to forums, microblogging, social networking, social

bookmarking, social curation, and wiki are among the different types of social media. (whatis. tech target.com ,Personal computing, Margaret Rouse )

According to Merriam Webster , Social media are forms of electronic communication as Web sites for social networking and micro blogging through which users create online communities to share information, ideas, personal messages, and other content (as videos).
64

SYNDICATE-The Journal of Business

Kaplan and Haenlein (2010:61) define social media as a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of User Generated Content.

Social media is fast becoming an inherent part of life online as social websites and applications proliferate. Most traditional online media include social components, such as comment fields for users. Face book, Twitter, Myspace, Linkedin ,Reddit ,Pinterest are among some of the prominent social networking sites.

EVOLUTION OF CORPORATE COMMUNICATION WITH SOCIAL MEDIA

According to 81% of the respondents of an online survey of 880 participants conducted in March, 2009 by social media marketer Michael Stelzner , to uncover the who, what, when, where and why of social media marketing, the number one advantage of social media, is getting more exposure for the company. This was followed by increased traffic and the formation of new business relationships.). Another benefit of social media cited by more than half of respondents was a rise in search engine rankings Stelzner, (2009).

That being the case to achieve a good corporate image and maintain meaningful stakeholder relationships in the present corporate scenario, apart from traditional PR tools such as news releases, statements for media, newsletters, organization, participation at public events conferences, conventions, awards, etc. internet tools especially social media networks, discussion forums and blogs have to become an integral part of organizations communication strategies.

A recent survey by global consulting firm McKinsey & Company, 65% of companies reported the use of Web 2.0 technologies inside of their organizations with video sharing, blogs, wikis, and SNS among the most heavily used applications though no single technology was used internally by more than 38% of companies Bughin & Chui, 2010). Forrester Research predicts that corporate spending on enterprise social media will reach more than $4.6 billion
65

SYNDICATE-The Journal of Business annually by 2013 Young et al.,( 2008). Though the usage of social media as a corporate communication tool has considerably gone up over the last few years, research indicates that full and effective employment of the social media tool is yet to be established.

A survey among communication and public relation professionals from 43 countries, conducted by the European Communication Monitor in 2011, reported that from a 11.5% usage of social media as an everyday corporate communication tool, it has gone up to a 40.5%. The following types of social media were mentioned as the most important by the respondents of the survey:

Social networks: 49.8% Online video: 39.5% Microblogs: 32.5% The professional who participated in the study also recognised that these tools may be used ineffectively due to lack of knowledge.

CONSEQUENCES OF SOCIAL MEDIA ON CORPORATE COMMUNICATIONS

The advantages of a social media presence far outweigh the disadvantages or risk factors, provided it is managed carefully. A recent study conducted by Wet paint, a Seattle, Washington based internet company and the Altimeter Group, research and advisory firm, San Mateo, CA, has found that higher social media engagement produces greater financial success for brands, while another report from Right Now Technologies found that one in Australians boycott a product after reading negative comments on social networking sites. four

Social media have a powerful amplifying effect. Conversely, just like any technology, the outcomes could be positive or negative. Social media also makes it more difficult for organizations to control information, reduced control over content, difficulty in tracking negative or misleading statements, accidental release of confidential information, unauthorized employees speaking on company's behalf are some major pitfalls that companies could face.

66

SYNDICATE-The Journal of Business The key could in building the right strategy for managing communication through all forms of social networking sites.

CONCLUSION

The industry shift from traditional corporate communications practices to public relations utilizing social media is unprecedented. The advent of social media has resulted in the evolution of corporate communications. As their popularity grows, businesses are using social media to market and communicate to a large audience. Social media is a double edged sword. While it could very advantageous to organizations in terms of extensive infiltration to customers and immediate feedback on products and services, at the same time it provides a stage for the public to voice their negative opinions about the organization. A communications management plan, formulated prior to engagement with the medium, is one of a number of measures that an organization can take to successfully participate in the world of social media.

67

SYNDICATE-The Journal of Business

REFERENCES

1. AndreinaMandelli, Lorenzo Cantoni, Social Media Impact On Corporate Reputation: Proposing a new methodological approach , http://cuadernos.uc.cl/uc/index.php/CDI/article/view/23/20 2. De la Rey van der Waldt ,Towards Corporate Communication Excellence in a Changing Environment, http://businessperspectives.org/journals_free/ppm/2004/PPM_EN_2004_03_Waldt.pdf 3. Empirical insights into strategic communication in Europe, http://www.zerfass.de/ecm/ECM2011-Results-ChartVersion.pdf) 4. Handle with care: Social media in corporate communications, http://www.saintylaw.com.au/wpcontent/uploads/2012/02/saintylaw_newsletter_april10.pdf 5. Juliet Barbara, Is social media bad for business? http://www.forbes.com/sites/julietbarbara/2012/11/11/is-social-media-bad-for-business 6. Laura Matthews, Social Media and the Evolution of Corporate Communications http://www.elon.edu/docs/eweb/academics/communications/research/02MatthewsEJSpring10.pdf 7. Olga Kazaka, Corporate Communication in Social Media , http://www.acta.sapientia.ro/acta-social/C1-2/social12-7.pdf 8. Peggy SimcicBronn Corporate Communication and the Corporate Brand http://home.bi.no/fgl96053/bronnchap5.pdf 9. Richard R. Dolphin, Ying Fan Is Corporate Communications A Strategic Function? http://dspace.brunel.ac.uk/bitstream/2438/1859/4/Is%20Corporate%20Communications %20A%20Strategic%20Function.pdf 10. Roper and Fills Corporate Reputation, Brand and Communication, (2012) http://www.fillassociates.co.uk/index.php?page=Scope%20of%20Corporate%20Comm unication

68

SYNDICATE-The Journal of Business 11. Wright and Hinson (2012). Examining How Social and Emerging Media Have Been Used in Public Relations between 2006 and 2012: A Longitudinal Analysis www.prsa.org/intelligence/prjournal/documents/2012wrighthinson.pdf 12. http://www.ipr.org.uk

69

SYNDICATE-The Journal of Business

INITIATIVES TO PROMOTE WOMEN EMPLOYMENT- A CASE STUDY

Ms. R. Sundari
Assistant Professor, Department of Business Administration, M.O. P. Vaishnav College for Women, Chennai

Dr.P.A.Sathyanarayana
Associate Professor and Research Head, Post Graduate Dept. and Research Centre in Commerce, Guru Nanak College, Chennai

ABSTRACT Working women of all segments of Indian society faces various forms of discrimination including sexual harassment. Even professional women find discrimination to be prevalent. Two-thirds of the women in a study felt that they had to work harder to receive the same benefits as comparably employed men.Male managers opine that women are new to the upper reaches of corporate life that there are simply not enough of them in the pipeline. Where women have made it to senior positions, it has usually been in support functions such as human resources, public affairs and certain kinds of finance jobs. Attracting and retaining women in the workforce is important for a variety of reasons. In spite of our large young population, it is now acknowledged that we are short of critical talent in almost all sectors. The study aims to identify the initiatives provided by companies to help the women employees in balancing their work life and also evaluate some of the common benefits extended by the companies in Chennai for women employees and the impact of the same on the satisfaction, performance and career progression. For the present study Primary Data has been collected from 50 working woman in the city of Chennai, India, working in different Industry. Data has been collected through a structured questionnaire. Study reveals that many of them receive many services but, that does not have any impact on the satisfaction performance and career progression. They feel very less opportunity is given for enhancing their skill set and progress in their career.

70

SYNDICATE-The Journal of Business To improve the satisfaction level of the women employees corporates can adopt schemes that have an immediate impact on their day to day activities. Company can provide traveling allowance and flexi time job offers for the women as time sharing is a major issue for womens hesitation to work. The immediate superior or the team manager should have empathy and should try to provide an easy work environment. Companies should make their benefits more effective so that they may find more qualified and devoted women workers. Key words: Career Progression, Employee Satisfaction, Initiatives, Retention strategies, Support Services, Woman Employment. INTRODUCTION Attracting and retaining women in the workforce is important for a variety of reasons. In spite of our large young population, it is now acknowledged that we are short of critical talent in almost all sectors. Nasscom in a report said the outsourcing industry was expected to face a shortage of 262,000 professionals by 2012. A major part of the requirement is coming from the Services sector which accounted for 57 per cent of real GDP in 2004-05. The demand for women employees will grow with the continued growth of this sector. Organizations, particularly those who want to build their employer brands (and therefore attract better talent), are taking proactive steps to address this issue. Crche and playground facilities for employees children have been introduced by some organizations (Texas Instruments, Honeywell Technology etc) this is a big help, particularly for women. In US where 62 percent of adult women participate in the workforce, 54 percent of children use day care facilities. In India, day care facilities are almost non-existent and very few Organizations provide crches. Compared to 46 per cent women managers in US in India it is a dismal 4 per cent. Even in Asian developed economies like Japan, more than 55 per cent of adult women participate in the work force. While the Government has made a beginning by introducing schemes like free education for the girl child, more women will join and stay in full time employment only if we recognize the unique needs of women in our society. Organizations like Honeywell Technology Solutions tells us that there are significant business benefits in the form of lower attrition, more loyalty, increased referrals and more mature expectations when you succeed in attracting and retaining more women employees.
71

SYNDICATE-The Journal of Business NEED FOR THE STUDY The study aims to identify the initiatives provided by companies to help the women employees in balancing their work life and also evaluate some of the common benefits extended by the companies in Chennai for women employees and the impact of the same on the satisfaction, performance and career progression. OBJECTIVES OF THE STUDY 1. To study the initiatives taken by companies. 2. To evaluate the level of usage of the initiatives extended by the companies. 3. To find out the concerns and the areas where they need support from organizations.

SCOPE OF STUDY The study helps to engage and support government authorities, organizations and trade unions to promote gender sensitive labour market reforms and reduce the costs of doing business to facilitate women's entry. This will help the organizations to promote women employment and can also help in framing policies to address the common issues. This may bring a change in the corporate culture and in the long run the company can aim at happy work force and can reduce spending on employee retention.

RESEARCH DESIGN AND METHODOLOGY Data source Research instrument Sample size Sampling Unit Area of study : Primary Data : Questionnaire : 50 : Working women : Chennai

72

SYNDICATE-The Journal of Business The sample chosen consisted of 50 women employees working in different sectors. The respondents represented different age-groups, educational levels and income groups. They were selected from various parts of Chennai. The data was collected through field survey with the help of pre-structured questionnaire. STATISTICAL TOOLS USED: Arithmetic Mean, Correlation, Chi-Square LIMITATIONS OF THE STUDY The study is limited o To the initiatives of companies to promote woman employment o The reasons why they give up their career or their potential not being recognized is not measured through the study. o The support and barriers to the career progression on woman employees are considered.

AN OVERVIEW OF SOME OF THE FACILITIES EXTENDED BY THE COMPANIES TO PROMOTE WOMAN EMPLOYMENT: Some recent researches indicate that female employees do not always get motivated by using the same tactics as their male counterparts. It is the responsibility of the HR professionals to understand the psychology of the workforce before implementing any motivational strategy in the organization. WORK FROM HOME REDUCES ATTRITION: A female executive working in the IT sector says, With long working hours and pressure from the home front, I used to get completely drained out at the end of the day. I was on the verge of quitting my job. My company realized my difficulty and offered me work from home option up to three days in a week. I was so much motivated by this gesture that its been three years I am still with the organization. It is a fact that a motivated employee sticks to the organization, thereby reducing the rate of attrition. WOMEN ARE TRADITIONALLY FAMILY ORIENTED AND ARE MORE EMOTIONAL THAN MEN: Males and females vary in their needs. Hence, the techniques used to motivate male employees may or may not work in case of female
73

SYNDICATE-The Journal of Business employees. While promotions, salary, insurance benefits, career development,

opportunities for further education are primary considerations for men, women get motivated by family friendly policies like flexi time or work from home option. A HR professional says, Women are traditionally family oriented and are more emotional than men. They sometimes have a feeling of being ignored at home and work. Taking this into consideration if you simply present a flower bouquet or gift vouchers on special occasions or send an e-mail wishing on her birthday, it will have a great impact on her. Such steps motivate the female employees much more than male employees. Of course, the motivational tactic has to be customized according to the situation as well as the organization we are dealing with. Ensuring workplace security and safe mode of

commuting also helps motivate the female workforce. This holds true particularly for media professionals or those working in BPOs or the hospitality sector because they have to work in night shifts. However far equality in the workplace has come, it can still be difficult for women to balance a successful career with raising a family. There are some employee benefits that particularly benefit women and help them juggle their career and home life a little better. Maternity Leave: Maternity leave is not technically an employee benefit as every woman is entitled to a certain amount by law but some employers are much more generous than others. ACCENTURE: Maternity Returners Program: helps ease the transition for new parents back into the workforce by providing career guidance and support for finding ideal re-entry roles. WIPRO: It has increased the maternity leave from six months to one year. All the top IT companies are today offering work-from-home policies for women, and some even are open to relocate them to a city of their choice if their husbands get transferred.

Childcare Costs: Childcare can be very expensive and is always an issue for working mothers who obviously want the best for their children while they work. Childcare benefits vary from company to company and can range from on-site nurseries to childcare vouchers.
74

SYNDICATE-The Journal of Business Childcare vouchers are often offered on a salary sacrifice basis but these offer significant savings for both the employer and employee and can reduce the burden of paying for expensive care. RABOBANK The employer will contribute to the costs of day-care, a nanny or out-ofschool care. In all cases, the childcare arrangements must be made through a recognized centre. In the case of day-care, the centre has to meet municipal quality requirements. The contribution is limited to two children per employee. PANASONIC: Child Care Leave: A total of two years of leave is available until the end of April immediately after the child starts elementary school. Child Plan Leave: Leave system for infertility treatment. ABN-AMRO: In addition, both male and female employees can apply for financial support towards the costs of day-care, nannies, or out-of-school care.

Flexi Time: The nature of working hours is changing and employers are realising that for many people, especially women with children, working flexibly is important. This kind of benefit is fairly cheap to implement but can be very popular. Under the law women with young children have the right to request flexible working hours and employers are becoming better about granting it. This may include starting or finishing at different times, job sharing, or working from home. RABOBANK: Employees are also allowed to vary their starting and finishing times, as long as this does not conflict with operational or departmental interests. Furthermore, instead of being paid for extra working days, employees can save these days and take long-term leave after some years, or take extra days off and have the gross wages pro rata reduced, or work extra days and have these days paid at the end of the month. ACCENTURE : Flexible Work Arrangements: supports the unique needs of professionals in the workplace, encouraging a balance between work and personal priorities ABN-AMRO: In the 1995-1998 collective agreements, the 36-hour working week was introduced. Employees can work four days of nine hours, instead of five days of eight hours.

75

SYNDICATE-The Journal of Business

Medical Insurance: A popular employee benefit is private medical insurance. Employers are now much more aware of the need to help women balance their lives. Choosing an employer with a generous maternity package is a good start if you are planning to start a family and you may also want to consider private medical insurance. Companies now need to consider any requests for flexible working and picking an employer that has a good reputation in this field can really make a difference. PANASONIC: The company now provides staff with a healthcare trust scheme in the hope of reducing costs by 10%.The arrangement, provided by Healix Healthcare Trusts, allows the electronics firm greater control of the cost of the scheme to ensure staffs are all appropriately covered by their medical insurance. If the costs of the claims are lower than anticipated, the company can keep any money - rather than the insurer making an extra profit. Women in Tech: Tech companies with good IT opportunities for women make women a priority, often with specific programs or groups fostering growth among their female employees. These companies look out for exceptional female employees, allowing them to grow with mentorship, and without the bias against women that's often ingrained in large corporate cultures, particularly in the IT industry.

ACCENTURE :Women's Mentoring Programs: pairs female executives with senior executive mentors, includes virtual workshops and provides networking tips to help ensure the advancement of women at Accenture. CISCO (NASDAQ: CSCO) :To promote women in tech, Cisco has 34 Women's Action Networks (WAN) within its global operations. Cisco also tracks its WAN's diversity success with performance reviews and other criteria, like diversity surveys. In 2009, women made up 23.35% of Cisco's total employees, while 15.47% of its VP positions and higher were also women

76

SYNDICATE-The Journal of Business Women at higher-level positions: Women have become senior executives in the top tiers of the public sector and higher education in increasing numbers. In the private sector women have recently become well represented in the third tier. Experiences of women and men on their way to leadership had been different. Older women had struggled against discrimination and many in higher education and the public sector had been pioneers. But most now did not see themselves as tokens in leadership, expressed great enthusiasm about their positions and what they had been able to achieve. Younger women in the private sector and the public sector believed they had been appointed on merit, were at ease with their male colleagues and confident of their capacity to influence events and to effect changes. It was apparent that in applying for senior positions many women had been, and some continued to be, reticent about their capabilities.

RABOBANK: Women at higher-level positions: The proportion of women in managerial jobs should increase. For each job vacancy at managerial level, at least one of the female applicants will be invited to an interview; part-time working hours are explicitly allowed in managerial jobs; and the bank will review its image with regard to female-friendliness ACCENTURE: Provides training for diversity awareness, as well as courses directed toward developing our women leaders. In the Developing High-Performing Women course, for example, female role models help managers evaluate requirements to reach the next stage in their careers. To date, more than 550 women from 23 countries have participated in the program.

PANASONIC : Work and Life Support duty: A flexible work system for those raising children or nursing the elderly, which includes short work-hours, half-days, alternate-days, and other schedules. Family Support leave: A vacation system that can be used for a wide range of events, including nursing of family members or participating in the school events of children.

77

SYNDICATE-The Journal of Business SUMMARY OF RESEARCH FINDINGS: Demographic Information about the Respondents: o 56% of the respondents are married women and the remaining 44% are single. o 94% of respondents are regular workers and 6% are causal workers. o 62% respondents disagree that their work has not changed over time and the remaining 38% agree to it. This may be because the respondents do not get enough opportunities for career growth. o 32% of respondents work involves shifts benefits and the remaining 68% respondents work does not involve shifts. Benefits obtained by the Respondents from their Employees: 1. 58% of respondents receive ESI and medical benefits 72% are given PF 58% of respondents are given gratuity ,66% of respondents are given bonus,30% respondents are provided with the housing allowance 20% respondents are provided with the traveling allowance. 2. 92% respondents are given maternity leave 18% respondents receive child care/crches facilities 58% respondents are provided with flexi time. 3. 34% respondents would prefer part time job 4. 100% respondents say that there has been no sexual harassment case at work in their company 5. 54% of respondents say that there is a safety committee in the company 50% of respondents say that there is a safety officer in the factory ,4% of respondents say accidents have taken place in the company ,46% of respondents say that the company provides safety training 6. 28% of respondents find sufficient time always for their household duties, 70% occasionally find time and the remaining 2% never find time for their household duties. 7. 8% of respondents are always unable to manage their household duties, 84% occasionally find time and the remaining 8% say they are able to manage their household duties. 8. 52% of respondents get preferential treatment on an account of being a working woman and the remaining 48% do not get preferential treatment as a working woman.

78

SYNDICATE-The Journal of Business 9. An analysis on the perception of on the attitude of the society towards working women reveals that 22% respondents think that the attitude of the society is very good, 50% say good, 12% say satisfactory, 16% say the society has respectful attitude 10. Respondents opinion on married women to work with full devotion shows that 24% of respondents say that it is not possible for married women to work and the remaining 76% say it is possible 11. 68% of respondents would like to work if they had some one to help them in household duties, 8% would prefer to stay at home, 8% said do not know what they would do and the remaining 16% didnt not any give any answer. 12. An analysis on the main reason for womens to work 50% of respondents want to work for income and 60% want to work for job satisfaction. 13. A Chi- Square Analysis on the Satisfaction, Improvisation and Performance of Women Employees Ho= There is no significant impact on the satisfaction, performance and improvisation of the respondents. H1= There is significant impact on the satisfaction, performance and improvisation of the respondents. Table measuring the Satisfaction, Performance and Career Progression of women employees: Strongly Satisfaction, Progression My company provides Career development opportunities and training. I feel there is adequate opportunity for me to move to a better job within the company. I have clarity on what the organization needs me to do. Performance & Career agree Agree Neither agree or disagree Disagree Strongly disagree Total

15

21

50

11

23

10

50

20

26

50

79

SYNDICATE-The Journal of Business My company ensures better co-operation among my co-workers. My company collects feedback periodically from all the employees. I maintain cordial relationship with my superiors. Our company maintains benefits that compare well to other companies in this area. I feel the top management is committed to quality of the product and services. Total

11

22

10

50

25

12

50

20

26

50

26

12

50

13 108

31 200

6 58

0 20

0 14

50 400

Degrees of Freedom= (5-1)*(8-1) =28 Level of Significance= 0.050 Table Value=41.3372 Calculated Value= 102.9978 Calculated Value is more than the Table Value, hence Ho is rejected The analysis shows that there is a significant impact on the satisfaction, performance and improvisation of the respondents based on the level of involvement of top management in the career and personal life of employees. A positive approach and care will definitely help the women to stay in the career and the same will have an impact on the family, organization and the nation that 50% of the human resource of the nation will be utilized properly for the prosperity, self satisfaction and optimum utilization of the human resource of the nation. 14. Co-relation analysis between the services extended by the company and the impact of the same on the performance, satisfaction and improvisation of the women employees working in different sectors in the city of Chennai.

80

SYNDICATE-The Journal of Business

Table analyzing the services offered by the company and the impact on the satisfaction of the employees: IMPACT SERVICES OFFERED Employee Benefits Working conditions 27 Facilities at work 3 X 27.2 ON SATISFACTION,

PERFORMANCE AND IMPROVISATION Y career development opportunities & training clarity on what the organization needs me to do cordial relationship with my superior benefits that compare well to other companies 14.4 14.4 12.8

Occupational health and safety

19.25

in this area top management is committed to quality of the

12.6

Relationship with supervisors

16.33

product and services

13.8

r = [xy * n] (x) (y) / [(x2 * n) (x)2 ] * [(y2 * n) (y)2 ] r =1248 *5 92.78 * 68 / (2115.07 * 5) -8608.12 * 927.76*5 -4624 r = - 0.40 The above analysis shows that there exist a negative co-relation between the services extended by different companies to the women respondents and the impact of the same on the satisfaction, performance and improvisation. This shows that to motivate and retain the women employees, depending up on the requirement of the circumstance, care and timely help need to be extended. Better training and discussion sessions on work life balance, healthy, friendly and congenial work environment will help any company to utilize the services of women employees in a better manner.
81

SYNDICATE-The Journal of Business

CONCLUSION The present generation companies have started to introspect the reasons for attrition and they are keen on retention and better engagement of employees. In the process depending upon the requirement of the environment companies are offering traveling allowance, housing allowance, better and safe work environment maternity leave, flexi work offers, work from home and other social security schemes such as PF, ESI, Pension, Bonus, etc. This has resulted in a positive direction for women employees to take up jobs that suit their ability. From independence the women education in India is improving and the family need is also forcing them to take up employment opportunities. In the due course the liberalization and FDI policies of the Government generate more employment opportunities with better compensation. This in turn helps the women to make use of the opportunities. But, still women are assumed to be the ultimate responsible person for domestic and home making. The present study shows that on an average around 70% of the respondents alone get maternity leave. Only 22% of respondents think that the society has a very good attitude towards their job, which should be termed to 100%, the society should accept the work and services rendered by them and women employees definitely claim better respect and care.

Many of them receive many services but, that does not have any impact on the satisfaction performance and career progression. They feel very less opportunity is given for enhancing
82

SYNDICATE-The Journal of Business their skill set and progress in their career. To improve the satisfaction level of the women employees corporates can adopt schemes that have an immediate impact on their day to day activities. Company can provide traveling allowance and flexi time job offers for the women as time sharing is a major issue for womens hesitation to work. The immediate superior or the team manager should have empathy and should try to provide an easy work environment. Companies should make their benefits more effective so that they may find more qualified and devoted women workers.

83

SYNDICATE-The Journal of Business

REFERENCES 1. Elaine Enarson, P G Dhar Chakrabarti, Women, Gender and Disaster: Global Issues and Initiatives 2. Adyanthaya, N.K., (1984) Women Employment in India: Geneva,InternationalLabour Office 3. Ahemed, K., (1979) Studies of educated working Women in India Trends and Issues, Economics and political weekly,vol.14 (13) 4. AjitGhose, 'Current issues of Employment in India', EPW, Vol. 34, No. 36, 4th Sept, 1999. 5. Amitabh Kundu, Trends and Patterns of Female Employment 6. Barbara Harris, 'Mapping India's World of Unorganized Labour,' Socialist Register 2001. 7. K. Sundaram, EPW Vol.34, August 2001. 8. S. Rothboeck, M. Vijayabaskar, V. Gayatri; 'Labour in the New Economy', 2001. 9. SharitBhowmik, 'The Labour Movement in India: Present Problems and Future Perspectives', the Indian Journal of Social Work, vol. 59, no 1, 1998, pp. 147-66. 10. Usha, The Status of Women in Handloom and Powerloom Industry and the Task Ahead, AIPWA workshop, 2003. 11. Women Workers In The Garment Industry in Bangalore, AIPWA and AICCTU, Bangalore. 12. Companies offer flexi options to retain women employees,Namrata Singh &Reeba Zachariah, TNNMar 8, 2010, The Times of India. 13. Number of working women rising-March 22, 2006, Financial Express 14. 100 Best Companies for working mothers-2002, Vol. 25, No. 8 - 190 pages

84