ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Overcoming Structural Barriers

In examining state-led industrialisation, we find that state-ownership guaranteed capacity build-up in the steel industry in Korea, India and Brazil. But only Korea achieved rapid industrial change by maintaining investment momentum. A bureaucratic approach to industrial governance and populist policies limited the development of the Brazilian and Indian state-owned steel industries. A comparative study of the these late industrialising countries tells us that both innovative behaviour and institutional capability are necessary to organise capitalist production.

Innovative Use of Digital Technology for National Development-Case of INSAT

National Development Case of INSAT S Chandrashekar The coversion of the existing analogue telecommunications and TV networks into digital information networks is a worldwide trend. Digital transmission technologies have resulted in significant increases in capacity, improvements in performance as well as an increase in the variety of services that are offered over the network. This article looks at the satellite component of such a network, particularly telephony through INSAT, in an attempt to assess the impact of going digital for rural telecom applications.

Towards a National Competition Policy for India

S L Rao This paper suggests that India needs to evaluate existing legislation, rules and procedures from the point of view of establishing whether they are supportive of competition, what exceptions if any should exist, the conditions under which competition can be fostered and ensured, what new legislation, institutions, regulatory bodies, etc, need to be created.

Top Management Remuneration and Firm Performance-An Exploratory Analysis

Firm Performance An Exploratory Analysis Debashish Bhattacherjee S Jairam G Ravi Shanker The advent of liberalisation has clearly changed pay conditions in the firms by making pay more sensitive to the performance of the firm, irrespective of its size. Changes in the level of sales and in the stock of all past flows of profits significantly influence the incentive pay rises. With every Rs 100 increase in either sales or shareholders' wealth, the pay of the CEO increases by 15 paise to 22 paise.

Fluctuating Total Factor Productivity in India-Evidence from Selected Polluting Industries

Evidence from Selected Polluting Industries Gopinath Pradhan Kaustuva Barik While re-examining the growth path followed by total factor productivity (TFP) in the Indian manufacturing sector, keeping in view the conflicting inferences drawn by recent studies, this paper attempts to take into account some of the theoretical as welt as empirical issues that seem to have been overlooked by the Indian studies. On finding through a statistical test that primary and intermediate inputs are not separable in the production function, the present analysis proceeds with an estimation of TFP on the basis of output in place of the usually preferred variable 'value added1 in the Indian studies. As a fall-out of such a step, the growth recorded by TFP is found to have a positive trend with a marked deceleration during the 1980s, Such a result, therefore, enabled the study to come up with a conclusion that there was no 'turn around' in TFP growth during the 1980s as has been pointed out recently. Extending the TFP estimation to a selected set of industries, identified by the Central Pollution Control Board, New Delhi, to be amongst the most polluting ones, it has been found difficult to substantiate either the claim of a turn around in the growth path of TFP during the 1980s or the option of value added as an appropriate choice for its estimation in the Indian industrial sector. An important finding of the present exercise is one of TFP in India following a fluctuating growth path.

Impact of Liberalisation on Performance of Indian Industries-A Firm Level Study

of Indian Industries A Firm Level Study Chiranjib Neogi Buddhadeb Ghosh This paper tries to see the impact of liberalisation on the performance of selected Indian industries with firm level data. The performance indicators chosen for this study are growth of value added, capital intensity, labour productivity (partial productivity indicator) and total factor productivity (TFP). The paper also observes the performance of these industries in terms of inter-temporal changes in efficiency from 1989 to 1994. It concludes that productivity growth and efficiency level have not improved as per expectation during the post-reform period and the distribution of efficiency is skewed. However, the time period is not long enough to reach any final conclusion. But such study is needed to review the impact of liberalisation on Indian industries for better monitoring of reform policies.

Analysing Technology Strategy-Some Issues

Some Issues Rakesh Basant Dissatisfaction with the definition of industries has led to the defining and use of the concept of strategic groups which differentiate a group of firms from others within a given industry in terms of their strategic choices. This paper attempts a selective review of studies pertaining to technology strategy to explore parameters which can be used to define strategic groups within an industry. It is argued that the nature of technology, industry and firm characteristics have major implications for theory and action related to the content of technology strategy and for the processes through which it is developed and implemented.

Entry Strategies A Survey

Anindya Sen Entry strategies are the flip side of entry deterrence strategies. While existing firms would like to discourage entry, new firms are attracted into an industry precisely by the success of incumbents in keeping out competition and earning super-normal profits. It is shown in this paper that a prospective entrant can choose between various modes of entry. The entrant also has to decide on the scale of entry. While entry is a one-shot proposition, the process of entry itself and the various considerations that determine entry have dynamic connotations that can be ignored only at the peril of endangering the long-term viability of the new enterprise.

Exit Strategies Experience of Indian Pharmaceutical Firms

Pharmaceutical Firms T R Madanmohan This study looks at plant exit data in the Indian pharmaceutical industry to identify the role affirm characteristics in the exit process. Specifically, an attempt is made to address issues such as whether small firms exit faster or targe firms, the effect of cost on exit and the effects of exogenous variables, such as multiple plants and diversity across molecules on the exit process.

The Competitiveness Conundrum

Literature Review and Reflections Shekhar Chaudhuri Sougata Ray The concept of competitiveness has been studied by researchers from a variety of perspectives using different methodologies. Though there is a large volume of literature on the subject, there is a dearth of systematic reviews of the extant literature. This paper is an attempt in that direction. It presents a classificatory scheme using two dimensions level of analysis (nation, industry and firm) and types of variables used to explain competitiveness. The implicit and explicit research questions addressed and issues related to definition, measurement and sources of competitiveness at various levels are also discussed. It is suggested that given its complexity an eclectic approach combining different schools of thought and using multiple measurement schemes would be appropriate for doing research on competitiveness.

The Dynamics of Competitiveness-Interactive Process between Markets and Assets

Interactive Process between Markets and Assets D N Sen Gupta Long-term competitiveness of a firm is reflected in its ability to sustain above normal profitability over time. Firms that remain competitive and profitable over time are likely to exhibit four characteristics, namely, increasing productivity of form and capital, continuous changes in their mix of assets and markets, a steady upgradation in markets and assets, and growth. Moreover, in contrast to equilibrium or life-cycle models, process models, by focusing on the behaviour of firms, provide a flexible analytical framework for studying historical evolution of a firm and understanding why different firms perform differently.

Economics and Strategic Management-Two Cultures, Two Paradigms

Two Cultures, Two Paradigms? K R S Murthy J Ramachandran Deepak K Sinha This paper argues that the two disciplines, economics and strategic management represent two distinct research cultures informed by two different paradigms but with a common boundary which allows exchange of findings through translation. SM provides the nano-foundations of micro-economics, and the accumulation of empirical facts in SM will influence the direction of research in economics in future.

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