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

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Short-Term Economic Forecasting-Some Leading Indicators

Review of Management February 1969 book of abstractions. It was not written in the proverbial 'ivory tower'. Rather, it is a practical, down to earth, easy to understand and assimilate, 'how to' approach to effective leadership." Variations of this statement are found in the other books under review. The authors of these books are committed to the new system and their books are designed to convert others. The case histories given in them are success stories. As a result, they ignore the conceptual issues and do not display enough analytical depth and objectivity. Finally, the whole development of Management by Objectives has taken place in the context of Western, predominantly American, business management and some of the authors have chosen to portray it as a great bulwark of the strength of the free enterprise system. It goes without saying that however effective this approach may have been found elsewhere, there is no room for a turnkey operation. Indian managers must, therefore, analyse their current practices and the organisational and social climate in order to relate Management by Objectives to the Indian situation.

Performance Budgeting in Public Sector

A Premchand The principal handicaps in the budgeting system of the public sector are two: there is generally very little relationship between the financial outlays of the budget and the physical content of the programme proposed to be achieved, and the system of financial control is concerned more with cash transactions than with the cost of operations.

Inventory Management-Some Approaches and Problems

Review of Management February 1969 bility cost centres and cost analysis are needed. The 'responsibility cost' indicates the costs and results of operations by organisational units or on programme lines, the costs of inputs and also the outputs or the accomplishments of the organisation. Cost analysis, on the other hand provides the means by which the underlying responsibility and costs are summarised, rearranged and allocated. These data provide both an organisational unit orientation and a programme or product orientation.

Share Prices, Dividends and Earnings

S C Srivastava Retained earning has no significant influence on the determination of share prices in India, To thai extent investment in shares does not appear to be growth-oriented.

Motivation for Action

Sanat Lahiri Communications in India: Experiments in Introducing Change by Joseph E Kivlin, Prodipto Roy, Fredrick C Fliegal and Lalik K Sen, National Institute of Community Development, Hyderabad, 1968; pp 56; price Rs 4.

An Export Bank

Motivation for Action Sanat Lahiri For Teachers Only Angus Hone Blue-Collar Worker Baldev R Sharma Demand Forecasting D N Sen Gupta Profit Reporting S K Bhattacharyya Share Prices and Earnings S C Srivastava Review of Management, is published four times a year, on the last Saturday of February, May, August and November.

Long-Term Demand Forecasting-An Approach

An Approach D N Sen Gupta This article does not present any new theories or techniques of long-term demand forecasting. It only describes how Metal Box of India adapted a few well known and extremely simple techniques to prepare a long term forecast of demand for its products, ie, consumer packages of different types made from tinplate, aluminium, paper and board, and plastics.

The Blue-Collar Worker-A Sociological Analysis

A Sociological Analysis Baldev R Sharma This paper examines the hypothesis that workers with an urban background are more highly committed to industrial work than those with a rural background. On the basis of a case study of workers in an automobile plant in Bombay, the author finds that this hypothesis, accepted for long by anthropologists among others, is not correct.

For Teachers Only

Review of Management November 1968 the reaction of the target audience and the final results could have been quite different. Media-wise the exclusion of film in this intra-media comparison appears somewhat surprising. The authors incidentally inform us that as many as 74 per cent in all six villages combined were found not to have seen any films. This may be largely became of the distance or accessibility factor. Dermanent cinemas being all situated THIS work is a largely unrevised memorandum submitted to the Education Commission which received evidence from 1964 to 1966. The memorandum was submitted in January 1966 and its value as a guide to India's educational future has been destroyed in a maelstrom of disastrous events; the devaluation of July 1966, the second successive poor monsoon and harvest in 1966-67 and, finally, the sharp fall in availability of non-project aid since the end of 1967, which is now likely to continue throughout the period of the revised Fourth Plan (1969-1974). The underlying assumptions of the education and manpower projections were based on the overall growth rates calculated in "Notes on Perspective of Development, India 1960-61 to 1975-76" and Pitambar Pant's 1965 revision and extension of these figures to 1986 in his Kale Memorial Lectures "Three Decades of Transition, India 1956-1986", Throughout the volume one searches in vain for the suggestion that the authors thought of testing the sensitivity of their assumptions to different overall growth rates (i e, 5 per cent 5.5 per cent, and 6.0 per cent a year). Did they really think in the autumn of 1965 that 6.6 per cent a year was the most likely growth rate for the Indian economy between 1960-61 and 1975-76? It is also disturbing that there is no justification at all of the choice of 20 years as the projection time period. The uncertainty of long-term planning in developing economies might have influenced the authors to limit their projection to 10 or 15 years. The authors do concede that "Estimates of economic growth over long periods are in the main town, But in the experience of commercial houses who have either used touring talkies or gone into village interiors with mobile vans, the film with its vivid combination of sound and sight has proved to be an extremely effective medium of communication, breaking as it does the barriers of literacy and language, of old habits and attitudes. In a serious painstaking study such as the authors have under- necessarily tentative, and it is hard to judge their implications for employment". In the event, all speculation concerning the empirical value of the projections has ceased a mere two and a half years after the memorandum was submitted. The Indian economy is extremely unlikely to grow at 6.6 per cent a year from 1960-61 to 1975-76 even if a persistent agricultural miracle manifests itself.

Profit Reporting by Diversified Companies

S K Bhattacharyya The recent emergence of a large number of conglomerate companies with diversified product lines is largely due to acquisitions of other companies and the setting up of new activities as divisions within existing companies, Initial official opposition to such diversification has been overcome by court rulings and the attractions of higher profitability.

Wage Fixation by Wage Boards

There was need in the mid-fifties for a national review of the wage structure. The machinery of Industrial Tribunals and Courts was clearly inadequate for this purpose because the problems involved were not in the nature of industrial disputes.


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