76

MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

  • Upload
    others

  • View
    1

  • Download
    0

Embed Size (px)

Citation preview

Page 1: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;
Page 2: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

EDITORIAL BOARD

Editor

Dr. Kalim Khan

Director

Rizvi Institute of Management Studies & Research

Dr. C. G. D’lima Dr. Vijaya Manerikar

Expert Trainer & Consultant

HR & Psychometrics HRM

Dr. RB Smarta Dr. Tanaya Mishra

Managing Director Sr. Vice President - Group HR

Interlink Consultancy JSW Steel

Dr. Suresh Kumar Dr. V. Saxena

AVP HR Trainer & Consultant

Aurobindo Pharmaceuticals Operations Management

Dr. M.A. Ganachari Dr. Hemant Rajguru

Trainer & Consultant Associate Professor

Financial Management YCMOU

Murali Gopalan

National Business Editor

Hindu Business Line

EDITORIAL DEPARTMENT

Garima Sharma Anjali Talreja

ADMINISTRATIVE DEPARTMENT

Swati Ghag

COVER DESIGN AND LAYOUT

Mohd. Osaid Koti

The views expressed in this publication “Management Vision” do not reflect the opinions of the institute.

Copyright ©, Rizvi Institute of Management Studies & Research, Mumbai.

All Rights Reserved. ISSN 0975-7813

Contact:

Rizvi Institute of Management Studies & Research,

New Rizvi Educational Complex, Off. Carter Road,

Bandra (West), Mumbai – 400 050.

Tel.: +91 22 2604 2180, 2604 0924

Email: [email protected]

Website: www.rmi.rizvi.edu.in

Page 3: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Editorial

Dear Valuable Researchers

Welcome once again to the July edition of Management Vision.

We at Rizvi Institute of Management Studies & Research continue to bring

research-backed, academic pieces that strive to add value to professions across

management sectors.

This issue covers a broad range of management themes including contemporary

research articles and book reviews. ‘Remarketing or stalking’ – focuses on the

latest marketing trends over the internet, “Perception of gaming on users and

parents’ is based on primary research while ‘Convergence in PR’ captures the

latest in PR through a case study.

We look forward to your renewed contribution for our annual conference

‘Dimensions in Research’ to be held on February 7, 2015.

Till then keep refining your research, seek out new trends and capture them in

your next research paper.

Dr. Kalim Khan

Page 4: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Contents

RESEARCH PAPERS

Convergence in Public Relations Anjali Talreja 1-6

Tracking the Trend in WTI Crude using Technical Analysis Imran Kazi 7-14

Understanding the Impact of Virtual Currency on a Nation’s Monetary Policy Jamil Saudagar 15-19

Perception of Gamers and Parents on Gaming Tejasvini Ghosalkar & Azaan Teki 20-27

Impact of Locus of Control on Verbal Aggression and Assertiveness Tabassum Dhange 28-41

Understanding the Difference between Online Retargeting and Online Stalking Mohd. Osaid Koti 42-49

The El-Nino Impact and the Indian Agri Economy Umar Farooq 50-55

BOOK REVIEWS

The Firm: The Story of McKinsey and its Secret Influence on American Business Duff McDonald Reviewed by – Anjali Talreja 56-58

Cell Phone Nation: How Mobile Phones Have Revolutionized Business Politics and Ordinary Life in India Robin Jeffrey and Assa Doron Reviewed by – Garima Sharma 59-61

GUIDELINES

Detailed Guidelines on Submitting Research Papers

Page 5: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

1

Convergence in Public Relations

Ms. Anjali Talreja 1

Abstract

Public Relations Practice over the years has evolved and is embracing new tools and creating powerful platforms

that helps meet the objectives of a firm. The role of a PR professional is thus beyond media relations. Although

media relations continue to be the base of PR, this base alone is layered with a slew of social media tools, CSR

properties, interactive mediums and digital platforms.

This paper with help of a case study helps to understand the potential of several PR platforms when converged can

help reach objectives effectively

Key Words: Public Relations, Convergence, Platforms, Tools

1.0 Introduction

‘Public Relations’ is the art of conveying the credibility of a firm to reach a goal. There was a

time this goal was reached by using conventional mediums such as media and conferences. With

globalization, technology and the changing attitudes of people there is a definite need for PR to

converge PR tools. The PR framework has to be such that there has to be a synergy in the

campaign and the firm’s final goal.

2.0 Research Objectives

The objective of this study is to:

To understand importance of convergence in PR

To capture the changing landscape of PR and Media

To understand the various tools available that enables convergence in PR

1 Assistant Professor – Rizvi Institute of Management Studies & Research, [email protected]

Page 6: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

2

3.0 Research Methodology

This study is based on a case study to enable understanding of convergence in PR

Conceptual understanding of various PR tools have been attributed to the internet,

books and magazines

4.0 PR and Media: Capturing the change

PR at one point time of time focused on the word ‘coverage’. In PR parlance, this means what is

the quantum of media coverage per month for a particular client (company or product). If media

coverage was good then the client was satisfied. PR efforts were easy to quantify. But with media

itself changing the landscape, PR has no choice but to play catch –up, adopt and embrace this

change.

Change in Media Landscape

Media has changed over the years. Take the below example to understand this change.

Figure 1: Bennett Coleman & Company: Offering Convergence across platforms

The Times Group is India’s largest media conglomerate with its flagship Bennett, Coleman and

Company Limited (BCCL) being the largest publishing company in India and South-Asia.

Starting off with The Times of India – which is now the largest English publication in the world,

BCCL and its subsidiaries (called The Times of India Group), are present in every existing media

platform – Newspapers, Magazines, Books, TV, Radio, Internet, Event Management, Outdoor

Bennett Coleman

& Company

Time of India

Print

TOI Mobile Application

Radio Mirchi

Times Now

TV

Facebook Page

Times Of India

www.Toi.com

Web

Page 7: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

3

Display, Music, Movies and more. With a turnover exceeding a billion dollars, the group has the

support of over 25,000 advertisers, 11,000 employees and an audience spanning across all

continents.

Given this landscape, PR has no option to adopt newer ways to reach out to the media across

different platforms.

5.0 PR and Media

Media has clearly moved beyond print and TV. Media today is almost instantly accessible across

the devices: mobile, Tablets, desktops. Social media has enabled an interactive platform to

respond to any development taking place. Twitter handles, Facebook pages, blogs are powerful

mediums that help communicate better and more meaningfully to the target audience to meet

the desired goal of the firm. A company’s website that interlinks it to the Facebook page is an

effective way to communicate the facts about the company and at the same time seek an

interactive link (Facebook) to see what consumers’ think about the firm.

With media canvassing a whole new world of platforms, PR too has more options to

communicate and engage the key publics to reach the desired goal.

Case Study 1

Publishing House: Creating awareness for a Book by first time author

A senior management professional for the very first time in his life decided to write a book. The

book was based on flying and the author’s experiences on flying. The publisher was India’s

oldest and one of the most respected publishing outfits.

The Need

The author was keen on creating awareness for his book and his ultimate aim was to reach out as

many readers and hopefully be a bestseller.

Page 8: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

4

The PR Campaign: The PR strategy was based on the following pillars:

Figure 2: PR Platforms: Converging to meet the Goals

The PR team engaged the expertise of different teams to deliver in the following manner:

Print Media: The PR team prepared an exhaustive media sheet comprising book reviewers who

write unbiased reviews for new books across newspapers. This exercise involved emailing and

individually connecting with reviewers and convincing them to write a review. Books with an

authored note personally sent to the target media list cross India.

This part of the campaign was a 60 day campaign: Number of reviews achieved: 3. this clearly spelt the need to go

beyond print media

Book Launches: The publisher with his contacts with leading book stores in the country struck

deals for a book launch. Each book launch was planned such that media invites were sent and

there was an exclusive session with the author and the media. This helped the media to get to

know the author and his book better.

Media interactions: Approximately 25 across India. Despite several media meetings the coverage received was

insignificant

Digital Platforms: A website was created for book. This site also gave insights about the author.

The website created teaser campaigns and was linked to the social media pages. In fact leading e

commerce sites were also connected which helped the online visitor to even buy the book with

the link on the same page.

Created a buzz and the website proved to be an effective tool for publicity

Book Launches

Social Media

Print Media

Digital Platforms

PR GOAL Create awareness

about the book and the author

Page 9: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

5

Social Media: Within social media, a few tools were applied judiciously:

Facebook: This page created fun, captivating content with graphics that attracted people

to visit the page and at the same time kept them engaged.

Serious readers, publishers and bloggers were targeted and thus created the much needed awareness

about the book

Blogger Campaign: Over 150 bloggers were reached out through a personalized email

campaign. Each blogger received an autographed book

The author received over 75 positive book reviews

Twitter: Approximately 2 posts were posted each day. These posts created an interest

amongst readers and the posts were targeted accordingly.

Radio: The author was invited to an exclusive 9.00 AM to 10.00 AM interview with a leading

English radio channel in India. The transcript of the interview was emailed and then

subsequently the link was posted across the social media platforms and the website of the author.

PR Deliverable

The PR campaign roughly lasted for 3 months. The success of the campaign lied in the

Uniformity of the messaging

Convergence of various tools that helped reach out to different segments of the audience

effectively

The book received an overwhelming response

This ultimately helped the published and the author to garner impressive sales number

for the books

6.0 Conclusion

PR has changed and has evolved to reach out to a diverse set of audience. The PR tools have

clearly gone beyond media. To a large extent media has compelled PR to widen its horizons and

adopt newer platforms and tools. With media changing its landscape, PR today offers far more.

PR will always act as a conduit to reach out to the desired publics based on the key messages and

communication strategy. This conduit today has clearly moved beyond media and with time will

continue to expand its boundaries.

Page 10: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

6

References

Davis, Anathony. 2004. Everything You Should Know About Public Relations. New Delhi:

Kogan Page

Sachdeva, Iqbal S. 2009. Public Relations Principles and Practice. New Delhi: Oxford Press

Page 11: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

7

Tracking the Trend in WTI Crude using Technical Analysis

Mr. Imran Kazi2

Abstract

Crude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global

Economy. In an upward economic cycle, price of oil rises gradually; the reverse is equally true as well. The price

does vary due to various reasons: events like the Olympics, geo-political tension in the middle-east or for that

matter in any part of the world or just an economic slowdown. These factors are some of causes for change in price

of any asset/commodity but the effects of the same are studied on charts. This research paper attempts to forecast

the movement of crude oil over the period of next two years using technical charting tools

Key Words: WTI Crude, Fibonacci Series, Stochastic Indicators, Moving Averages, OPEC, Resistance, Support

1.0 Introduction

Arguably, the most important commodity in the world today is crude oil. It is a mixture of

hydrocarbons that exists in a liquid form in natural underground reservoirs which accounts for

40% of the world's primary energy consumption.

The product and its derivatives made their way into virtually every application of modern life

from transportation to plastics. Almost, all industries are directly or indirectly are dependent on

derivatives from crude oil. The prices of crude are highly volatile. Its price movements largely

and directly affect prices of lubricants, petrochemicals, fertilizers, paints, transportation costs,

etc. Aviation and motor gasoline, naphtha, kerosene, jet fuel, distillate fuel oil, residual fuel oil,

liquefied petroleum gas, lubricants, paraffin wax, petroleum coke, asphalt, and other products are

obtained from the processing of crude and other hydrocarbon compounds.

2.0 Objectives

To study the historical price movement in WTI Crude since 2006.

To predict the trend in WTI Crude over the next two years.

2 Assistant Professor – Rizvi Institute of Management Studies & Research, [email protected]

Page 12: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

8

3.0 Research Approach

Sources of Data

Secondary data:

WTI Crude chart from Netdania website.

Other data gathered from books and publications, magazines, internet, journals

and periodicals, etc.

Primary data: Content analysis of the price charts obtained from Netdania website.

4.0 Research Design

Quantitative Descriptive Cross-sectional

The research intends to analyze the prize movement of WTI Crude over a particular

period of time on the basis of data obtained from Netdania – a popular database and

chart source for various assets.

It is temporal in nature and conducted using a sub-section of the total available data

points.

5.0 Scope and Limitations Of Study

The study does not include use of Candlestick charting technique.

The study is on the basis of only Western Technical Indicators to forecast the movement

of WTI Crude.

6.0 Literature Review

The relationship between oil prices and economic scenario is also a topic of discussion for

experts. One could argue for days on whether oil prices determine economic growth or if

economic growth has dictated oil prices. Since 1975, almost every recession has been

accompanied with a pullback in oil prices. Oil prices and the major Equity Indices have moved in

tandem as well.

In general, economic growth is dependent on the price of energy; it just happens to be that oil is

the predominant energy source around the world, supplying more than one-third of the world's

energy demand. So unless some other source of energy captures the top spot from oil, then oil

will remain the bellwether for energy prices around the world.

Page 13: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

9

Figure 1 :

While the U.S. may have the world's third largest petroleum reserves, they're divided up among

several hundred companies, and very rarely is there excess supply. That's not the case with

OPEC members. These countries, most notably Saudi Arabia, have excess production capacity

and will set production targets that more or less dictate the price of crude around the world.

While normally this will bring certain stability to the price of oil, it can also lead to dangerous

consequences. Take, for example, the big run-up in oil prices leading to the financial collapse in

2007-2008. At that time, excess production capacity for OPEC nations was much lower than

normal, and lost complete control of prices.

Figure 2 : Source: US Energy Information Administration.

Page 14: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

10

As long as OPEC controls more than 40% of global oil production and has the ability to dictate

global supply levels through production targets, it will continue to have a major influence on oil

prices. Such changes in prices of oil are studied over a period of time and predictions are made

for future movement using Technical Charting methods. Like weather forecasting, technical

analysis does not result in absolute predictions about the future. Instead, technical analysis can

help investors anticipate what is “likely” to happen to prices over time. Technical analysis uses a

wide variety of charts that show price over time.

6.1 The Basis of Technical Analysis

At the turn of the century, the Dow Theory laid the foundations for modern technical analysis

(Murphy, J – 1999). Of the many theorems put forth by Dow, three stand out:

Price Discounts Everything

History repeats itself

Prices move in Trends

6.2 Strengths of Technical Analysis

Focus on Price

If the objective is to predict the future price, then it makes sense to focus on price movements.

Price movements usually precede fundamental developments. By focusing on price action,

technicians are automatically focusing on the future. Even though the market is prone to sudden

knee-jerk reactions, hints usually develop before significant moves. A technician will refer to

periods of accumulation as evidence of an impending advance and periods of distribution as

evidence of an impending decline.

Supply, Demand, and Price Action

Many technicians use the open, high, low and close when analyzing the price action of a security.

There is information to be gleaned from each bit of information. Separately, these will not be

able to tell much. However, taken together, the open, high, low and close reflect forces of supply

and demand. In its most basic form, higher prices reflect increased demand and lower prices

reflect increased supply (Berg, M. - 2010).

Pictorial Price History

Even to a true fundamental analyst, a price chart can offer plenty of valuable information. The

price chart is an easy to read historical account of a security's price movement over a period of

Page 15: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

11

time. Charts are much easier to read than a table of numbers. On most stock charts, volume bars

are displayed at the bottom. With this historical picture, it is easy to identify the following:

Reactions prior to and after important events.

Past and present volatility.

Historical volume or trading levels.

Relative strength of a stock versus the overall market.

Assist with Entry Point

Technical analysis can help with timing a proper entry point. Some analysts use fundamental

analysis to decide what to buy and technical analysis to decide when to buy. It is no secret that

timing can play an important role in performance. Technical analysis can help spot demand

(support) and supply (resistance) levels as well as breakouts (Nison, S. - 1991). Simply waiting for

a breakout above resistance or buying near support levels can improve returns.

7.0 Data Analysis and Findings:

The charts given below are weekly and monthly charts of WTI Crude for the past 7 years (as on

21st June 2014) The monthly chart has bar showing price movement on monthly basis while the

weekly chart is showing the same on weekly basis. The uptrend in crude is clearly evident in both

the charts. A detailed study of the weekly chart gives further details as under:

The momentum indicators of Slow Stochastic (A) and RSI (B) clearly indicate strength

on the buying side.

WTI crude is trading well above the upward trend line (support) – LINE 3 since mid-

2009. Unless and until this strong support is breached the uptrend in WTI crude should

continue.

The present trading price is just above 61.80% retracement of the fall from $147.25/bbl

to $32.97/bbl which is also acting as a minor support. As long as WTI Crude stays above

LINE 3 further up move can be expected with the first target being LINE 2 at

$115.076/bbl which is the highest level achieved in the past 3 years. Once this is

breached, the move should continue till LINE 1 at $122.810/bbl (78.60% retracement of

the fall from $147.25/bbl to $32.97/bbl). The time frame in consideration would be 2

years looking at the point of extended convergence of LINE 3 and LINE1.

Target values to look out for on the upside are $115/bbl and $122/bbl.

Page 16: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

12

Figure 3 : WTI CRUDE – MONTHLY CHART

Page 17: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

13

Figure 4 : WTI CRUDE – WEEKLY CHART

Page 18: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

14

8.0 Conclusion

Geopolitical risk and issues in Oil rich nations plays an important role in determination of oil

prices which has been evident time and again including the current turmoil in Iraq. Production

decisions made by OPEC nations are a significant factor as well which lead to variation in oil

prices. Amid this scenario, the technical charts indicate that the present up move in WTI crude

will continue over the period of next two years with a target value of $122/bbl. The crucial levels

to watch out would be $115/bbl and $122/bbl.

References

Books

Murphy, J.(1999) – Technical Analysis of the financial markets, A comprehensive guide

to trading methods and applications, New York Institute of Finance

Nison, S. (1991) – Japanese Candlestick Charting Techniques, A contemporary guide to

the ancient investment techniques of the far east, 10th Edition, New York Institute of

Finance

Journals

Berg, M. (2010) – The boundaries of technical analysis, Journal of Technical Analysis,

2008, Issue 65, p5-18

Zhu, Y. (2009) – Technical Analysis: An asset allocation perspective on the use of

moving averages, 2009, Journal of Financial Economics, p519-544

Websites

www.eia.gov

www.netdania.com

Page 19: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

15

Understanding the Impact of Virtual Currency on a

Nation’s Monetary Policy

Mr. Jamil Saudagar3

Abstract

The only constant is change. And arguably, the biggest tool that is keeping this adage alive is technology.

Technology is changing the world. It is shaping the future. So much so, that, now, real currency is facing an

existential threat in the form of virtual currency. Virtual currencies are created on computers using extremely

complex mathematical algorithms.

The European Central Bank (ECB) defines virtual currency as “a type of unregulated, digital money, which is

issued and usually controlled by its developers, and used and accepted among the members of a specific virtual

community”.

The US Department of Treasury defines it as "a medium of exchange that operates like a currency in some

environments, but does not have all the attributes of real currency”.

Given that virtual currencies are not created by central banks or the fractional reserve system, this paper tries to

understand the impact of virtual currency on a nation’s monetary policy.

Key Words: Monetary Policy, Virtual Currency

1.0 Introduction

The concept of trade has always been there, although the method of settlement has constantly

evolved. From barter system to using metals and from metals to using precious metals like gold

and silver and from there to using receipts issued by goldsmiths and then to gold backed paper

currency and then finally fiat currency. But has this evolution stopped, perhaps not. As more and

more people shift to trading online, virtual currency is slowly gaining strength across the globe.

According to recent estimates, the Bitcoin (a popular virtual currency) economy is valued at

approximately $7.68 billion. As per a research report, the virtual currency market is poised to

grow at a CAGR of 8.52 % till 2018.

3Assistant Professor – Rizvi Institute of Management Studies & Research, [email protected]

Page 20: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

16

Despite constant evolution, one thing common amongst all methods (except barter trade) was

that it was issued by a single governing authority and thus managing the supply was easier.

Virtual currency is not created by a central governing authority therefore it is not regulated. It is a

parallel method to settle trade (albeit online). It has no framework and the supply is not managed

with a nation’s economic interest in mind but rather created by complex mathematical algorithms

executed on computers disconnected from the ground realities. It also has the potential to

disrupt existing business practices.

All in all, should virtual currency become popular, it has the potential to damage the banking

system and might be a threat to financial and economic stability. Therefore, it is imperative that

the impact of virtual currency on the monetary policy be studied so that they can be regulated

and integrated in the economy. This is the intention of this paper.

2.0 Objectives

The objective of this paper is to understand the impact that the infusion of virtual

currency will have on the money supply in an economy.

The other objective is to understand the efficacy of monetary policy as a central bank

tool to promote economic growth and financial stability.

3.0 Research Approach

For purposes of this study, data from the financial newspapers and online resources have

been used.

4.0 Scope and Limitations of the Study

Though the term ‘virtual currency’ includes credit card points, air miles, loyalty points

etc., for the purposes of this paper, virtual currency means currency created by computer

programs and used in lieu of real currency to conduct trade and commerce.

Although, virtual currency has the potential to change the way businesses and individuals

conduct commerce, this paper restricts itself to the impact of virtual currency on a

nation’s monetary policy.

This paper restricts itself to understanding the impact of virtual currency on the

monetary policy. This paper does not suggest improvements or remedial measures

should a conflict arise between real currency and virtual currency.

Page 21: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

17

Another concern of regulators is that virtual currency might make it easier for illegitimate

businesses to conduct commerce, fuel money laundering or finance illegitimate activities.

The impact of virtual currency in these areas is also not studied.

5.0 The Impact of Virtual Currency on Monetary Policy

Economic growth and financial stability is one key objective of central banks. This is achieved

through various mechanisms by controlling the money supply in the economy. All these

mechanisms are clubbed together under the umbrella of monetary policy. Since money is

pumped in or sucked out solely through central bank actions, money supply is always tightly

controlled. Monopoly over the control of money supply in an economy by the central bank

ensures that the monetary policy is effective. Once this is lost, monetary policy will not remain

effective.

On the other hand, a central bank has no control over the creation or flow of virtual currency. It

cannot set interest rates for virtual currencies nor can it manipulate the value of virtual

currencies. There is no mechanism for a central bank to pump in or suck out virtual currency

from the system with a view to manage the economy. Thus, with a rise in usage of virtual

currency the existing practice of using monetary policy as a tool to manage an economy will

become irrelevant or it might not be as effective as it was earlier.

Money supply in an economy is generally categorized as narrow money (cash and demand

deposits) and broad money (narrow money + time deposits). When the money supply in an

economy increases without a matching increase in the output, it leads to inflation. This concept

is postulated in Economics as the ‘quantity theory of money’. The equation is written as MV =

PY.

‘P’ stands for the current price and ‘Y’ represents the level of output in the economy. Therefore

PY is nothing but the nominal Gross Domestic Product (GDP). Similarly, ‘M’ is the supply of

money in the economy while ‘V’ represents the velocity of money. Velocity of money basically

means the number of times a unit of currency will circulate in the economy. Let us now keep ‘V’

and ‘Y’ constant. Next let us now increase the money supply (M). What happens to the price

level (P). It will surely go up. Thus, an increase in money supply leads to inflation assuming other

variables are constant (i.e. there is no increase in output or velocity of money is constant).

Similarly, bringing down the money supply ought to influence the price level in an economy.

What would happen to the price level (read inflation) if another unregulated entity keeps

augmenting this money supply by infusing its own currency in the system. And since the creation

Page 22: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

18

of this currency is decentralized, there could be many such players in the market each with its

own currency. Currently, there are more than 80 such players. Although, these currencies could

be bought in lieu of real currency, they are also mined. Besides, even if these were convertible,

the conversion rate might be derived from speculative activities (virtual currencies are volatile in

nature and have no intrinsic value). A constant detached output on one side and an increasing

money supply on the other side could potentially lead to hyperinflation. Thus virtual currency

can impact the price stability in an economy.

Similarly, since with large scale usage of virtual currency, central banks will not be in a position to

influence the economy through interest rate changes, it might have a cascading impact on the

downstream economic agents, the banking system and financial markets which look at these

interest rates to plan their actions.

The credit creation process will also be disrupted because the expansionary monetary policy

through which money is pumped in the economy by the central bank to revive the economy will

become ineffective. Thus, this avenue of economic revival will lose its steam.

6.0 Conclusion

Though, the concept of virtual currency is a promising start and definitely a ground breaking

innovation, it is also decentralized and unregulated. The very fact that virtual currency is

decentralized and unregulated makes it a disruptive innovation. And as disruptive innovations

go, it has the potential to debilitate the economic system by changing the rules of the game. The

anonymity, efficiency and low transaction cost makes it attractive to users. Therefore, it is here to

stay. It is thus very important that globally regulators and central banks start working towards

creating a common framework and work towards gradually integrating this form of currency into

the economic mainstream. Failing which, it can have dangerous consequences for the global

economy.

Page 23: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

19

References

Deodhar, Satish (2012). Day to Day Economics. Noida : Random House Publishers India

Private Limited.

Roy Chowdhary Purba, Ghosh Piyali, Geetika (2011). Managerial Economics New Delhi :

Tata McGraw - Hill Education

Tharani, Saurabh (2013). Spot the Next Economic Bubble. New Delhi: Network 18

Publications Private Limited.

Research and Markets (January 2014), Global Virtual Currency Market 2014-2018,

accessed on 26th June 2014

http://bitcoincharts.com/ accessed on 28th June 2014

Page 24: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

20

Perception of Gamers and Parents on Gaming

Tejasvini Ghosalkar4

Azaan Teki5

Abstract

Gaming in India is on the rise. Gone are those days, when hardly 50-100 people would be able to afford

Playstation’s like in 2001 and when game piracy was on the rise. Nowadays, times have changed as the gamers

prefer to buy games legit as it is the only way they can play online. The current generation prefers to play indoors

and that is one of the reason gaming is also on the rise.

The number of gamers have also increased, a stunning 10 Lakh Playstation 2 have been sold, 5 Lakh

Playstation Portables have been sold and over 3 Lakh Playstation 3 have been sold. The distribution channels

have also improved, earlier there was no proper distributor but now, there are 4 distributors who help deliver new

games simultaneously as they launch in Europe. The distributors are Milestone Interactive, Express,

WorldWideRoms and Redington.

This paper attempts to understand the perception of gaming on parents and their children who are gamers..

Key Words: Gaming, Gamers, Parents , Playstation, WorldWideRoms

1.0 Introduction

This rise of gaming has led to the opening of many game stores, roughly 50 across India. A store

exclusively for games was unthinkable until 2009. Milestone opened the first gaming store at

Mega Mall in Mumbai. This set the trend and several other stores opened along with Express.

Gaming outlets have also contributed to the growth of employment opportunities. .

Recently, Sony manufactured PS3 games locally, another positive step for gaming in India. Due

to local manufacturing, the prices of older games has dropped from Rs 1499 to Rs 999 and new

blockbuster games like The Last Of Us was available at a reduced price of Rs 2499. Sony India

head Atrindiya Bose also revealed that there were more plans for more publishers to start local

game manufacturing which will help further reduce the prices.

4 Management Executive : Asianet New Network 5 Management Executive : Mindstone Interactive Pvt. Ltd.

Page 25: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

21

In addition, the available of the Collector’s editions of popular games has also helped. There was

a time when the only Collector’s edition of games was the edition of the pirated disc with fewer

scratches but not anymore.

2.0 Objectives

The objectives of the study are

To understand the burgeoning demand for gaming in India

To understand the reasons for the growing demand of Gaming in India

To understand Gamer’s view on perceived disadvantages of gaming

To understand the perception of parents on gaming

3.0 Need and Significance Of Study

Despite this growth, there is a huge danger to the industry. The cause of this danger is the

perception of parents on gaming. Parents have a misconception that gaming is a waste of time,

can cause violence and can adversely impact their children’s eyes.

However , the reality is different, there are games for different age groups and in countries like

the USA and the UK a person cannot buy a 18+ game adequate proof of age.

A number of studies have actually proved that gaming actually increases eyesight as the gamers

tend to pay more attention to detail. Research has also proved that gaming helps improve motor

skills and improves hand eye coordination. In addition, gaming is also is a great stress buster.

Parents, who have a problem with gaming, surprisingly do not have a problem with movies

which actually can create similar problems that arise from gaming

This paper attempts to understand parent’s perception on gaming and how marketing can be

used to change it or alter it in the long term.

4.0 Research Methodology

This paper attempts to capture the perception of gamers and their parents through

Descriptive approach based research

Questions to gamers and parents.

Page 26: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

22

4.1 Sample Design

The sample size for this study is 150

50 Parents (either mother or father) have been analysed

100 Male Gamers (console gamers) have been analysed

Location: Mumbai

Age Group: 30yrs to 45yrs for parents / 15-30 years for gamers

SEC : A

4.2 Sampling Technique

Convenience sampling technique and Snowball sampling technique was used

4.3 Sampling Procedure

Step 1 : Focus on changing trends of gaming industry over the last few years. This was carried

out by speaking to people who are in the gaming industry and seeking their views.

Step 2 : To decide the sample size for parents and gamers.

Step 3 : Gamers: Involved understanding the perception of gaming as a means to promote

violence through a questionnaire

Step 4 : Involved understanding the perception of gaming as a means to promote violence and

adversely impacts children’s eyesight through a questionnaire

4.4 Data Collection Method

Primary Data : collected through closed-ended Questionnaire

Secondary Data : Internet, Journals, Articles, Previous related study or research

conducted.

4.5 Method of Analysis

Quantitative

Tool of Analysis: Excel

Page 27: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

23

5.0 Scope and Limitations

The research is restricted to Mumbai and may not show a pattern applicable to the

country.

It is assumed whatever information is given by the consumer in the questionnaire holds

true and correct.

6.0 Data Analysis

1. Given below are the Gamers’ Analysis and Responses

A. Gaming a good stress buster

Figure 1 : Gamers opinion on whether gaming is a good stress buster

A staggering 50% of the sample was in strong agreement about gaming being a stress reliever

and over 35% agreed. The result means that over 3/4th of the gamers find gaming as an

excellent stress buster.

0

10

20

30

40

50

60

StronglyDisagree

Disagree Neutral Agree Strongly Agree

Opinion

Page 28: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

24

B. Gaming helps improve concentration

Figure 2 : Gamers opinion on whether gaming helps improve concentration

Another positive opinion on gaming is that it seems to improve concentration and the gamers

seem to strongly agree.

C. Gaming promotes violence

Figure 3 : Gamers opinion on whether gaming promotes violence

0

5

10

15

20

25

30

35

40

StronglyDisagree

Disagree Neutral Agree Strongly Agree

Opinion

0

10

20

30

40

50

60

StronglyDisagree

Disagree Neutral Agree Strongly Agree

Opinion

Page 29: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

25

Despite recent media reports targeting how gaming improves violence, only 5% of the sample

believes that there was any connection between violence and gaming.

There is no such thing as actual experience and the people who actually play games, the gamers

themselves find that gaming is an excellent stress buster, improves concentration and does not

promote violence. In addition, actual research has proven that the views of the gamers are

correct and not biased.

2. Parents responses

A. Gaming adversely impact eyesight

Figure 4 : Parents opinion on whether gaming spoils eyesight

A stunning 72% of the parents feel that gaming spoils eyesight despite research and gamers both

proving that it is not true.

0

5

10

15

20

25

30

StronglyDisagree

Disagree Neutral Agree Strongly Agree

Opinion

Opinion

Page 30: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

26

B. Gaming promotes violence

Figure 5 : Parents opinion on whether gaming promotes violence

Again a wrong perception, the general idea of parents is that gaming is all about violence and

blood.

7.0 Recommendations

The most important P in marketing is Perception and changing a persons perception is very

hard. Since gaming is expensive, the decision maker for gaming is mostly parents and if they feel

that gaming is not adding value, they will not be interested in wanting their kids to play games

and thereby the industry will suffer. But, should they be informed about the advantages and the

uses of gaming, there is a higher chance that they will want their kids to become gamers.

Educating them is a good start. An article every Sunday in the times of India talking about the

advantages of gaming is a good reach and impactful media vehicle. Parents generally have more

time to read on Sundays and are interested in reading anything which can improve their kids.

Another media vehicle that can be used is advertisements on Tv where the focus is again on how

a child can improve or master his skills and thinking by gaming.

0

5

10

15

20

25

StronglyDisagree

Disagree Neutral Agree Strongly Agree

Opinion

Opinion

Page 31: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

27

Create awareness campaigns for parents with regards gaming:

helps increase concentration

is a harmless addiction versus than others such as substance

improves eyesight

is a good stress buster

8.0 Conclusion

The big issue that is holding its growth is the perception of the Indian parents that gaming has

no advantages. Informing the parents about gaming advantages can be a good start.

Once the parents have knowledge about the advantages of gaming, there is a chance of a change

in their attitude towards it. By changing a perception, there is a great chance of creating more

gamers and expanding the industry. The gaming industry is a sleeping giant, it is growing very

quickly and if the opportunities are maximized then the gaming industry will finally wake up

References

Luke, Reily, 2012, 5 Reasons Video Games are actually good for you,

http://www.ign.com/articles/2012/09/10/5-reasons-video-games-are-actually-good-

for-you, accessed on December 11,2013

Sameer, Desai, 2013, Indian games industry records 16% growth in 2012 – report,

http://www.mcvindia.com/news/read/indian-games-industry-records-16-growth-in-

2012/0114161, accessed on December 11,2013

Page 32: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

28

Impact of Locus of Control on Verbal Aggression and

Assertiveness

Ms. Tabassum Dhange6

Abstract

Locus of Control plays a significant role in defining a person’s behavior. A person with internal or external locus

of control would react differently to similar situations. The research was done to understand the impact of locus of

control on two aspects of human behavior namely Verbal Aggression and Assertiveness. The sample constituted of

60 people who are working, within the age range of 22-55 years in Mumbai and its suburbs. The participants’

behavior was studied using Locus of Control Inventory, Verbal Aggressiveness Self-Assessment and the

Assertiveness Inventory. The results obtained in this study revealed that there is a significant difference in the level

of Verbal aggression amongst the people with external chance, external others and internal locus of control.

Key Words: Locus of Control, Verbal Aggression, Assertiveness

1.0 Introduction – Locus of Control

It is a psychological term which refers to a person's belief about what causes the good or bad

results in their life, either in general or in a specific area such as health or academics. A person's

"locus" (Latin for "place" or "location") is conceptualized as either internal (the person believes

they can control their life) or external (meaning they believe that their decisions and life are

controlled by environmental factors which they cannot influence, or by chance or fate). There

are three types of Locus of Control and they are there by explained in the below given diagram:

6 Assistant Professor – Rizvi Institute of Management Studies & Research, [email protected]

Page 33: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

29

Figure 1 : Types of Locus of Control

Internal Locus Of Control - Individuals with a high internal locus of control believe that events

in their life derive primarily from their own actions. For example, when receiving test results,

people with an internal locus of control would tend to praise or blame themselves and their

abilities. These are outcomes within your control-determined by your hard work, attributes, or

decisions. Persons with an internal locus of control (LOC) have an attitude of “personal

responsibility” for the outcomes of what they do. They also believe that every action has its

consequence, which makes them accept the fact that things happen and it depends on them if

they want to have control over it or not.

External Others Locus Of Control - People that have external locus of control tend to blame

others for the outcomes rather than themselves. Due to their locating control outside

themselves, externals tend to feel they have less control over their fate.

Verbal Aggression

Verbal aggressiveness is referred as "a personality trait that predisposes people to attack the self-

concepts of other people instead of, or in addition to, their positions on topics of

communication". The more temporal and short term effects of Verbal Aggression are: hurt

feelings, anger, irritation, embarrassment, discouragement, humiliation, despair, and depression.

Verbal aggressiveness is thought to be mainly a destructive form of communication, but it can

produce positive outcomes. There are two types of Verbal aggressiveness as explained in the

below given diagram:

• Person believes that they control themself and their lifeInternal

• People believe that their environment, some higher power, or other people control their decisions and their life

External Chance

• People tend to blame others for the outcomes rather than themselvesExternal Others

Page 34: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

30

Figure 2 : Types of Aggressiveness

Four primary reasons for verbal aggression are as follows:

Frustration—in which a goal is blocked by someone or having to deal with an individual

unworthy of one's time.

Social learning—in which the aggressive behavior has been learned from observing other

individuals.

Psychopathology—in which an individual attacks other persons because of unresolved

issues.

Argumentative skill deficiency—in which an individual lacks verbal skills to deal with an

issue, and therefore resorts to verbal aggressiveness.

Assertiveness

Assertiveness is the ability to express oneself openly and honestly while also reflecting a genuine

concern for others. It is about having the confidence to be oneself, to be true to ones values and

beliefs, and to be brave enough to speak up when needed.

Assertiveness reflects people’s expression of their genuine feelings, standing up for their

legitimate rights, and refusing unreasonable requests. Assertive individuals resist undue social

influences, disregard arbitrary authority figures, and refuse to conform to arbitrary group

standards. However, they are also highly capable of expressing positive feelings, including love

and admiration. Assertive individual frequently use the power of social influence to attain goals,

for example, they can successfully recruit others for important activities.

Constructive Aggressiveness

The constructive traits which produce satisfaction and

increase relationship contentment by helping to

increase understandings between the different

positions are assertiveness and argumentativeness

Destructive Aggressiveness

The destructive traits, hostility and verbal aggressiveness, lead

to dissatisfaction in communication and

relationship deterioration. Verbal aggressiveness is

destructive and links to the hostility trait. Unlike

argumentativeness, verbal aggressiveness is focused on defending one's identity and attacking others; they do not try to resolve the dispute but instead attack individuals self-

concept.

Page 35: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

31

Relating Locus of control with Verbal Aggression

The effect of Locus of Control on Verbal Aggression is important to know that whether an

individual’s Locus of Control Internal or External influences person’s verbal aggression at work

place. An employee’s behavior plays a very important role in building up an organizational

climate. Such employees tend to spoil the work atmosphere by being verbally aggressive. They

not only have personal job issues but also create one for their team or department they are

engaged in.

Relating Locus of control with Assertiveness

The effect of Locus of Control on Assertiveness is important to study how it influences person’s

assertiveness at work place. An employee who is assertive in nature will be better off doing new

project optimistically and will not only be responsible for personal growth but also for

organizational growth.

2.0 Objectives

To understand the importance of Locus of Control in working people.

To find the effect of Locus of Control on Verbal Aggression and Assertiveness defining

the behavior of people at work place.

To recommend ways to deal with Verbal Aggression and Assertiveness at work place.

3.0 Need and Significance of the study

Locus of Control is an important topic of study for Human Resource professionals to know and

understand:

The psyche of the employees and accordingly craft the futuristic plans for the employees.

Effectiveness and efficiency of internal customers.

Group dynamics at the work place.

To help employees cope up with the effect of verbal aggression at work place.

To know the significance of assertive behavior in the working environment.

Thus study of impact of Locus of Control on verbal aggression and assertiveness is important

but only if organizations know how to design appropriate strategies and invest enough resources

to get the best result from analyzing the behavioral patterns of the employees.

Page 36: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

32

4.0 Research Design

Survey

Type of Research: Descriptive

5.0 Sampling Plan

Target: Employees working with different organizations irrespective of their department who

have been in the system for more than two years.

Sample size: 60

Sampling technique: Convenience sampling technique using questionnaires.

Sampling procedure: The questionnaire will be filled by working people.

6.0 Data Collection Method

Primary Data: Structured questionnaire

Secondary Data: Internet, business magazines, trend reports, journals, previous related

study or research papers.

7.0 Method of Analysis

Quantitative using Statistical software like SPSS

8.0 Limitations of Study

Sample size: The sample size was not so big only 60 samples were being collected.

Location: The whole sample was from only Mumbai region so it cannot be generalized.

Gender Biasness: Number of female was more than the number of male that can cause

gender biasness (39:21).

No qualitative analysis: If qualitative responses would have been taken it would have

added more value to the research.

Page 37: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

33

9.0 Literature Review

Lettie Breet, Chris Myburgh and Marie Poggenpoel, 2010 studied the relationship between the

perception of locus of control and aggression where locus of control plays an important role in a

person’s perception concerning a situation and possible reactions to what is happening and

should be happening.

A 56-item questionnaire based on Rotter’s locus of control, and the Dias scale were used. The

questionnaire was completed by 440 boys in grades 9, 10, and 11. Various factor, item and

differential statistical analysis were conducted. Three constructs were identified i.e. physical,

verbal & indirect aggression. Results indicated that locus of control has a significant influence on

verbal and indirect aggression. The differential analysis indicated that contextual variables

(language of tuition, age and grade) play a significant but not substantial role in aggressions.

Furthermore, boys with an internal locus of control were significantly and substantially less

aggressive than boys with an external locus of control, with respect to physical, verbal and

indirect aggression.

Bethany L. Ridling 2010 did his research on insight and locus of control as related to aggression in

individuals with Severe Mental Illness (SMI). Individuals with Severe Mental Illness (SMI) are

often stereotyped as aggressive, although research has shown that the majority of these

individuals are not aggressive. Nonetheless, closer examination of factors that differentiate high-

aggressors from low-aggressors may predict which individuals are more likely to become verbally

and/or physically aggressive. Previous studies have investigated the relationship between insight

and aggression in this population. Some studies have found a relationship between poor insight

and aggression, while others have not. Other studies have also examined the relationship

between locus of control and aggression, and many have found that an external locus of control

is related to higher aggression.

Scalora, 2004 found that in males, external locus of control correlated with physical aggression,

but in females, a correlation was found between external locus of control and Verbal aggression.

In contrast, internal locus of control has been associated with increased treatment participation,

help-seeking behavior, and more positive treatment outcomes.

Okechi.B.Chibuike, Lnwankwo.B.Chimezie, Nkiru.Edith.Obande.Ogbuinya and Chinenye.B.Omeje, 2013

Research on humanities researched on role of locus of control on assertive behaviour of

adolescents. The null hypothesis stated-that there will be no statistical significant influence of

locus of control on assertive behaviour of adolescent; with 80 participants drawn randomly from

Abakaliki local government area Nigeria. The findings of the research were discussed in relation

Page 38: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

34

to the implication on academic and it concluded that locus of control plays a significant role in

the assertive behaviour of adolescents.

Kamile Kukulu, Kadriye Bulduloglu, Ozen Kulakac, 2006 studied the effects of locus of control,

communication skills and social support on assertiveness in female nursing students where they

found out that in this study the interrelation of locus of control, social support and

communication skills and their relation with assertiveness was investigated by means of a path

model. The only variable that directly influenced assertiveness was communication skills.

Perceived family support had no direct or indirect effect on assertiveness. The findings point to

several considerations for nursing curricula including those faculties should plan and provide

opportunities for learning activities that increase students' assertiveness.

Hassan Fahim Devin, Davood Farbod, Neda Asadi, Maryam Basirat 2013, did their research on

comparative and correlative study of locus of control, assertiveness, mental health status in active

and non-active elderly people. The findings of the study revealed significant differences between

active and non – active people regarding mental health status and assertive behavior. Active

people were more assertive and had better mental health status. The study adds to the growing

body of research on mental health status and factors such as locus of control and assertiveness

that affect this variable.

10.0 Findings and Analysis

10.1 Graphical Representation of the Sample:

Figure 3 : Age range of People

Perusal of Figure 10.1 shows the age range of the sample. Highest numbers of people are

between the age group of 21-30 (37 people). 7 people are between the age group of 31-40, 9

people are between the age group of 41-50 and 7 people are between the age group of 51-60.

0

10

20

30

40

21-30 31-40 41-50 51-60

No

. of

Pe

op

le

Age Group

Age Range

Page 39: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

35

Figure 4 : Gender range of People

Perusal of figure 10.2 shows the number of males and females in the sample taken for the

research study. There are 39 females and 21 males, which shows that the maximum participation

in the study is of females than males.

10.2 Statistical Tool Used: One Way ANOVA – Analysis Of Variance

Analysis of variance is a general method for studying sampled data relationships. The method

enabled the difference between two or more sample means to be analyzed. The purpose is to test

for significant difference between class means, and this is done by analyzing the variances. All

classes to be compared with each other simultaneously rather than individually, it assumes that

the samples are normally distributed.

Hypothesis Testing

Effect of Locus of Control on Verbal Aggression

Null Hypothesis: Ho

There is no significant difference between the three groups of Employees with external chance,

external others and internal Locus of Control on Verbal Aggression.

Alternate Hypothesis: H1

There is significant difference between the three groups of Employees with external chance,

external others and internal Locus of Control on Verbal Aggression.

Effect of Locus of Control on Assertiveness

Null Hypothesis: Ho

There is no significant difference between the three groups of Employees with external chance,

external others and internal Locus of Control on Assertiveness.

Alternate Hypothesis: H1

0

10

20

30

40

50

Females Males

No

. of

Pe

op

le

Gender Difference

Page 40: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

36

There is significant difference between the three groups of Employees with external chance,

external others and internal Locus of Control on Assertiveness.

Verbal Aggression

A one-way ANOVA was conducted to examine the effect of Locus of Control on Verbal

Aggression. The results of the descriptive statistics of the means and standard deviations are

shown in Table 10.1 and Figure 10.3 shows the result of ANOVA for the Verbal Aggression.

Locus Of Control N Mean Std. Deviation

Internal 20 41.60 12.713

External Chance 20 54.25 17.128

External Others 20 52.30 14.879

Total 60 49.38 15.788

Table 1 : Mean and Standard Deviation for Verbal Aggression

Perusal of Table 10.1 shows that people with an External Chance locus of control (54.25) and

External Others Locus of Control (52.30) scored higher on Verbal aggression than the people

with an internal Locus of Control.

Figure 5 : Mean for Verbal Aggression

Perusal of Figure 10.3 shows that the people with an External Chance have scored 54.25,

External Others have scored 52.30 and Internal locus of control have scored 41.60 on verbal

aggression. The people with an External Chance and External Others have scored higher than

the people with an Internal locus of control. This suggests that people with an External Chance

and External Others are high on verbal aggression than the people with an Internal locus of

control.

0

10

20

30

40

50

60

Internal External Others External Chance

Verbal Aggression

Page 41: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

37

Sum Of Squares DF Mean Square F Sig.

Between Groups 1855.433 2 927.717 4.115 .021

Within groups 12850.750 57 225.452

Total 14706.183 59

Table 2 : Variance for Verbal Aggression

Table 10.2 shows there is a significant difference found for Verbal aggression, F (4.115) = 0.021,

p < 0.05. Results bring out those people with internal, external chance and external others locus

of control differs from each other significantly on verbal aggression. People with an external

chance locus of control are high on verbal aggression than the people with an internal and

external others locus of control. Thus, the directional hypothesis of significant difference

between the groups is accepted.

Assertiveness

A one-way ANOVA was conducted to examine the effect of Locus of Control on Assertiveness.

The result of the descriptive statistics of the Means and Standard Deviations are shown in Table

10.3 and Figure 10.4 shows the result of ANOVA for Assertiveness.

LOC N Mean Std. Deviation

Internal 20 40.10 5.389

External Chance 20 35.55 7.529

External Others 20 35.70 6.845

Total 60 37.12 6.872

Table 3 : Means and Standard Deviations for Assertiveness

Perusal of Table 10.3 reveal that on Assertiveness there is no significant difference between the

employees with external others (35.70), external chance (35.55) and internal locus of control

(40.14).

Figure 6 : Mean for Assertiveness

32

34

36

38

40

42

Internal External Others External Others

Me

an

Locus of Control

Assertiveness

Page 42: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

38

Perusal of Figure 10.4 shows that the people with an internal locus of control have scored 40.10,

external others have scored 35.70 and external chance has scored 35.55 on Assertiveness.

Although people with internal Locus of Control have scored higher than the people with

External Others and External Chance, but there is no significant difference found between the

groups for assertiveness.

Sum of Squares DF Mean Square F Sig.

Between Groups 267.233 2 133.617 3.024 .056

Within Groups 2518.950 57 44.192

Total 2786.183 59

Table 4 : Variance for Assertiveness

Table 10.4 shows no significant difference for Assertiveness F (3.024), p > 0.05. This shows that

people with external chance, external others and internal locus of control do not differ

significantly from each other on assertiveness. Thus, the directional hypothesis of significant

difference between the groups is rejected.

11.0 Recommendations

Organization should try to understand the impact of Locus of Control on Verbal Aggression

in order to design various intervention strategies to tackle the behavioral problems at work

place. The organization should conduct psychometric tests that should include Locus of

Control test to find out the personality type and accordingly define criteria for selection

(Candidates with Internal Locus of control should be preferred although it cannot be said that

candidates with External Locus of Control should be rejected because even people with

external locus of control can be extraordinary task masters and get the work done well from

others).

Personality & Interest

Tests

Aptitude & Ability Tests

Psychometric Selection

Tests

Figure 7 : Psychometric Selection Tests

Page 43: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

39

Organizations should distribute educational journals and books to employees which would widen

their knowledge about Verbal Aggression and broaden their perspectives to increase their self-

confidence to cope with Verbal Aggression. Organizations could also come up with a framework

that defines the rules and regulations on issues based on Verbal Aggression or Verbal Abuse.

Employees, who are receiving verbal abuse at work, should keep in mind that the abuser’s effect

on employees is the problem. The problem does not lie with the employee. Employees’ who feel

they are being subjected to verbal aggression at work, should be encouraged to follow these steps

to try and address the situation before reaching the point of quitting.

Address the situation

Reference the employee handbook

Document the situation

Talk with the HR

Stay focused at doing the job

Organizations should consult “Industrial Psychologists” to study the behavioral pattern of

potential employees so that they can mold their behavior from being verbally aggressive to being

assertive in nature.

Organizations should encourage people with assertive behavior and provide with necessary

training in order to choose the right way to disagree as well as develop the ability stand up for

oneself.

12.0 Conclusion

The present research findings indicate that there is significant difference that exists in the level of

Verbal aggression between the employees with external chance, external others and internal locus

of control with the significant value 0.21. This suggest that people with an external chance and

external others are high on verbal aggression than the people with an internal locus of control. It

also shows that locus of control impacts the level of assertiveness in people. It highlights that the

factor of internality and externality of control vary in individuals and, it is implicit on assertive

behavior of employees. The investigation also shows that there is no significant difference that

exists in the level of Assertiveness between the individuals with external chance, external others

and internal locus of control with significant value 0.56. Organizations should thus concentrate

on addressing the issues related to verbal aggression and ensure that are appropriate steps taken

to control the behaviors of people who are high on verbal aggression.

Page 44: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

40

Bibliography

Ainsworth, M.D., & Bowldy, J. (1991). "Ethological Approach to Personality

Development" American Psychologist, 46,p333-341

Alberti, R. and Emmons, M. (1995a) your project right (7th Edition) San Luis Obispo

AC; impact publishers

Alberti, R. and Emmons, M. (1995b). You perfect revised edition san Luis Obispo CA.

impact press

Bayer, C.L., & Cegala, D.J. (1992). "Trait Verbal Aggressiveness and Argumentativeness:

Relations with Parenting Style". Western Journal of Communication, 56, p. 302-310

Bialer I (1961): Conceptualization of success and failure in mentally retarded and normal

Craig, A.R., Franklin, J.A & Andrews, G. (1984). A Scale to Measure Locus of control of

behaviour. British Journal of Medical Psychology

Driven by Research on hundreds of families: The Seven Principles for Making Marriage Work; by

John Gottman, PhD, Randomhouse, May 16, 2000; coined the "Four Horsemen of the

Apocalypse", four patterns of communicating which end including criticism, contempt,

defensiveness, and stonewalling

Facing Co-dependence: What It Is, Where It Comes from, How It Sabotages Our Lives by Pia

Mellody, Andrea Wells Miller, and J. Keith Miller

Infante, D.A., & Rancer, A.S. (1982). "A Conceptualization and Measure of

Argumentativeness. Journal of Personality Assessment, 46, p72-80

Infante, D.A., & Wigley, C.J. (1986). "Verbal Aggressiveness: An Interpersonal Model

and Measure". Communication Monographs, 53(1), p. 61-69

Infante, D.A., & Wrigley, C.J. (1986). "Verbal Aggressiveness: An Interpersonal Model

and Measure". Communication Monographs, 53(1), p. 61-69

Infante, D.A., Sabourin, T.C., Rudd, J.E., & Shannon, E. A. (1990). "Verbal Aggression

in Violent and Nonviolent Marital Disputes." Communication Quarterly, 38(4), p361-371

Infante, D.A., Trebing, J.D., Shephard, P.E., & Seeds, D.E. (1984). "The Relationship of

Argumentativeness to Verbal Aggression". Southern Speech Communication Journal, 50, p. 67-

77

McClure, L., Carlyle, K., & Roberto, A. (2005). "The Relationship Between Parents' Use

of Verbal and Physical Aggression and Children's Relational Satisfaction in Closeness

with Their Parents". Conference Papers -- International Communication Association, p. 1-29

Page 45: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

41

Muris, P., Meesters, C., Morren, M., & Moorman, L. (2004). "Anger and Hostility in

Adolescents: Relationships with Self-Report Attachment Style and Perceived Parental

Rearing Styles". Journal of Psychosomatic Research, 57, p. 257-264

Riesch, S.K., Anderson, L.S., & Krueger, H.A. (2006). "Parent-Child Communication

Processes: Preventing Children's Health-Risk Behaviors". Journal for Specialist in Pediatric

Nursing, 11, p. 41-46

Rill, L., Baiocchi, E., Hopper, M., Denker, K., & Olson, L.N. (2009). "Exploration of the

Relationship between Self-Esteem, Commitment, and Verbal Aggressiveness in

Romantic Dating Relationships". Communication Reports, 22(2), p. 102-113

Rotter, J.B. (1975). Some problems and misconceptions related to the construct of

internal versus external control of reinforcement. Journal of Consulting and Clinical Psychology

Shaw, A.Z., Kotowski, M.R., Boster, F.J., & Levine, T.R. (2012). The effect of prenatal

sex hormones on the development of verbal aggression. Journal of Communication, 62,

778-793

Styron, T., & Janoff-Bulman, R. (1997). "Childhood Attachment and Abuse: Long-term

Effects of Adult Attachment, Depression, and Conflict Resolution". Child Abuse and

Neglect, 21,p. 1015-2023

Suniya S.L. & Edward 2(1992). Intelligence and Social competence among high rate

Adolescents. Development and Psychopathology

Weger, H. (2006). "Associations Among Romantic Attachment, Argumentativeness, and

Verbal Aggressiveness in Romantic Relationships". Argumentation and Advocacy, 43, p. 29-

40

Page 46: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

42

Understanding the Difference between

Online Retargeting and Online Stalking

Mr. Mohd. Osaid Koti7

“When people leave your site without buying anything, Retargeting helps you connect

with these potential customers again.”

Google

Abstract

The research paper illuminates the growing problem of Online Retargeting or Stalking in general and Brand

stalking in particular by way of examples from real world. The modus operandi of Online Stalking is also

described. Advantages of Online Retargeting to firms are also listed. Further, the paper draws attention to thin

line of distinction between Retargeting and Stalking.

Key Words: Internet, Retargeting, Remarketing, Stalking, Brand Stalking

1.0 Introduction

Retargeting, also known as remarketing, is a form of online advertising that can help you keep

your brand in front of bounced traffic after they leave your website. For most websites, only 2%

of web traffic converts on the first visit. Retargeting is a tool designed to help companies reach

the 98% of users who don’t convert right away. Retargeting is a powerful branding and

conversion optimization tool, but it works best if it’s part of a larger digital strategy.

Retargeting works best in conjunction with inbound and outbound marketing or demand

generation. Strategies involving content marketing, AdWords, and targeted display are great for

driving traffic, but they don’t help with conversion optimization. Conversely, retargeting can

help increase conversions, but it can’t drive people to the site. Targeting as a new channel for

acquisition when, in fact, it’s simply a layer to supplement your existing marketing channels.

One channel that isn’t typically associated with retargeting (but should be) is content marketing.

Having a smart strategy for mixing retargeting with content marketing creates a powerful

"cocktail" to drive lead generation.

7 Assistant Professor – Rizvi Institute of Management Studies & Research, [email protected]

Page 47: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

43

Figure 3 : Online Retargeting Process followed by a company

2.0 Objectives

The objective is to understand:

Brand Stalking

Implications of brand stalking

Brand retargeting through online platforms

Working of Online retargeting

Advantages of Brand retargeting

3.0 Online Stalking

Stalking simply means monitoring people’s lives and invading their privacy. It is a delusion and

to some extent it is unfair. ‘Brand Stalking’ is the invasion of brands into the life of prospective

consumers, across offline and online platforms. Brand stalking or ‘Retargeting’ is now rampant

on the internet; Brand Stalking through online tools is called ‘Online Stalking’ and possesses all

the hallmarks of Offline stalking.

‘Online Stalking’ also refers to someone discreetly profiling consumer’s behavior on the internet.

For example, Monitoring tweets, posts or scribbles on social media sites. This could be

understood very easily with the help of the following case.

Page 48: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

44

Case A

“Mr. A”, is hassled by an issue which he is unable to share. This usually happens when people

are stressed. To escape stress, some people take refuge in the world of internet and assume that

the Internet offers a solution. So Mr. A confides in the Internet. In his quest to seek a solution,

he goes to a search engine to find a solution. Mr. A searches for pharmacists and suppliers that

can provide him with a pill called “Solution Pill”, discreetly couriered to Mr. A’s home in a

brown colored envelope so that Mr. A does not face any embarrassment. Mr. A invests time and

searches for various options but does not make any purchases.

Brand stalking is now explained.

Brand Stalking 1: One day while Mr. A is doing a presentation in front of his clients, wherein

went online and show them some live demonstration, suddenly right on top of the screen, in

front of the client, there was this big broad ad selling / showcasing this “Solution Pill”. The

clients were shocked to see the banner.

Brand Stalking 2: At home, Mr. A asks his son to book movie tickets online. The son books the

tickets online and suddenly comes across the “Solution Pill” advertisement. The son is equally

shocked and innocently asks his dad, do I print the ticket with ad on it too?

This is called Online Stalking

Mr. A is a victim of the all pervasive, invasive and untiring method of internet advertising best

known as “retargeting”. Unlike traditional shopping, where an individual can browse wherever

and whatever in as many stores he wants to, and also walks out as a free bird. In the world of

internet, the stalking is continuous.

4.0 Online Retargeting

Retargeting is defined as an online feature provided by the companies that lets you reach out to

people who have previously websites, and show them relevant advertisements across the web or

when they surf through various search engines.

It refers to the techniques or strategies used by online marketers connect with consumers who

have surfed across various websites on the internet. These visitors are not only those who make

purchases, but merely surf the Website, called “Window Visitors”. Online marketers tap Window

Visitors as prospects and thus try and connect to gain brand recall. This action helped companies

to reintroduce themselves (product or service) to the market in response to the competition or

fall in sales.

Page 49: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

45

Retargeting helps companies to remarket their improved product or service, rekindle interest and

enhance sales. For example, a cell phone manufacturing company may remarket its newly

launched cell phone with its new features to let its potential customers know about the same.

How does Retargeting actually help? A company makes huge investments in marketing their

products online and offline with the expectation of gaining profits. A visitor to these sites may or

may not make a purchase. A company then uses retargeting tactics to bring the visitors back to

their website and entice them to make a purchase.

The basic premise for this tactic is to lure customers and attract them such that it meets the

objectives of the firm.

5.0 How does (Online) Retargeting work?

There are various ways to retarget a customer online. Given below are a few cases that will help

understand the process to retarget.

Case A: Retargeting Customers through the Shopping Cart Approach

A customer is in need of a product which he could buy offline or online. But due to some

reasons he prefers to buy it online. The reasons could be saving time in traveling, getting more

options to explore, price comparison etc. For the same, the customer visits some online

shopping portals and browses through various options. While visiting these options, the

customer selects certain items and adds them to the list (also called shopping cart). In this case,

the customer can also take time to decide and make the final purchases which he has selected in

the shopping cart. Due to some reason, the customer leaves the portal without any purchases.

The next day, he is bombarded with emails from the site with attractive options to buy.

The process works like this: The portal’s database of registered shoppers is used to identify

shoppers who have a shopping list on their cart but have left sans any purchase. A personalized

email is drafted linking to the specific cart. The sales conversion probability is high if the

advertisements created are personalized attractively.

Case B: Retargeting Customers based on customers visiting websites

Retargeting is done on the basis of the pages viewed by the prospective buyer and the campaigns

are then created on the basis of the pages visited. A customer wants to buy a cell phone online,

he also checks the EMI calculator on that same page. Over the next few days, while visiting

other websites, which have nothing to do with cell phones, the customer will see advertisements

or the cell phones with different options and schemes, especially for the one for which the

Page 50: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

46

customer was searching for. In this case, it is easy to implement or remarket as it does not

require permission or contact database or system integration. This kind of Retargeting is based

on the basis of individual behavior.

6.0 Advantages of Online Retargeting

There are many reasons why Retargeting must be used in today’s exponentially growing online

world. Also, the way Retargeting must be used is of a great concern.

For example, a customer enters a retail store and enquires about a particular product, and then

leaves without buying. What would the outlet owner do? The retailer is aware of the potential

customer’s inertest in purchasing the product or a similar sooner or later. Is there a way the

retailer can keep reminding the customer about the product. The answer is NO. Therefore the

retailer is left with no option / few options to actually follow up with the customer.

This is where retargeting comes with several advantages to reconnect with the customer. This

can however be one only in the online world.

Retargeting is useful for many reasons. Such as:

Reduced cost per impression

Better conversion rates

Improved ROI

Precise targeting

Cost effective branding

Increase registrations for email marketing lists or subscriptions

Encourage upsells (e.g. add-on features, luxury items, accessories, etc.) among repeat

customers

Increase brand awareness by promoting tailored and dynamic advertisements on major

search engines and websites

Reach numerous web visitors simultaneously based on web traffic to your site

Remarket to individuals who’ve viewed specific sections of your site by showing them

relevant online advertisements based on their browsing and purchase history.

Page 51: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

47

7.0 Retargeting or Stalking?

Online retargeting is a very powerful tool to nurture interactions of prospective customers.

Potential customers can be easily converted into business opportunities. However this may have

adverse effects on brands based on how their customers, current and new, perceive the brands.

There is a delicate line between retargeting and stalking, which must be adhered to.

Retargeting when applied mindlessly, might have a negative impact on the prospects, but when

in the wrong hands, can infuriate the prospective customer. Poor retargeting can backfire if the

marketer is unaware of what the prospective customer wants or what to say when because it

merely applies the Cookie-based order.

When a prospective customer is being followed with a sense of knowledge, the approach is such

that the pop-ups that will be seen by the prospective customer are relevant and useful. The

follow through is not just for the sake of following but to make real sales happen. Then it could

be called as retargeting. But this retargeting could be turned into stalking, if the brands that

follow are not relevant to customer’s needs and requirements. In today’s world, where every

individual cherishes their anonymity and privacy, a follow through of a brand through the ins

and outs of Web surfing is more annoying than just an invasion. This act is all together different

from retargeting, and will instead damage the brand.

8.0 Conclusion

Retargeting is a very powerful way to keep your target audience engaged. It is the tool to present

the prospective customer with highly relevant advertisements across the internet and to ensure

that brand enjoys a good mind share and ultimately results is sales and profits.

There is a thin line difference between retargeting and stalking. When judiciously applied by

deeply understanding the consumer’s behavior and internet usage pattern is retargeting.

However, if the marketer is merely chasing the consumer it will result in waste of effort and time

and thus adversely impacting the brand.

Page 52: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

48

Bibliography

alex-cleanthou. (2014, July). Retrieved August 3, 2014, from www.visibilitymagazine.com:

http://www.visibilitymagazine.com/web-profits/alex-cleanthous

Austin, B. (2014, July 2). What-Is-Remarketing. Retrieved August 9, 2014, from

www.docstoc.com: http://www.docstoc.com/article/163615648/What-Is-Remarketing

Beal, V. (2014, June 14). ecommerce_remarketing.html. Retrieved August 10, 2014, from

www.webopedia.com:

http://www.webopedia.com/TERM/E/ecommerce_remarketing.html

Blumler J. G., & Katz, E. (Eds.). (1974). The uses of mass communication: Current

perspectives on gratifications research. Newbury Park, CA: Sage.

Brosius, H. B., & Engel, D. (1996). The causes of third-person effects: Unrealistic

optimism, impersonal impact, or generalized negative attitudes towards media influence?

International Journal of Public Opinion Research, 8(2), 142–162.

Gower, H. (2013, November 19). Retrieved August 18, 2014, from blog.alkemi.com.au:

http://blog.alkemi.com.au/how-to-use-google-adwords-remarketing-to-close-more-

sales/

Kesler, A. (2014, March 5). Retrieved August 11, 2014, from

www.searchenginejournal.com: http://www.searchenginejournal.com/ppc-expert-using-

advanced-ppc-tactics/90541/

Kilbourn, C. (2014, March 2014). remarketing-101-beginners-guide. Retrieved July 25,

2014, from www.searchenginejournal.com:

http://www.searchenginejournal.com/remarketing-101-beginners-guide/89043/

Marrs, M. (2012, May 8). Retrieved July 25, 2014, from www.wordstream.com:

http://www.wordstream.com/blog/ws/2012/05/08/is-remarketing-creepy

O’Donoghue, K. (2014, April 20). Retrieved July 15, 2014, from

kellyodonoghue.wordpress.com:

http://kellyodonoghue.wordpress.com/2014/04/20/re-marketing-a-useful-marketing-

tool-or-cyber-stalking/

Products. (2014). Retrieved July 8, 2014, from http://www.thinkwithgoogle.com:

http://www.thinkwithgoogle.com/products/dynamic-remarketing-for-retail.html

remarketing.html. (n.d.). Retrieved July 30, 2014, from www.businessdictionary.com:

http://www.businessdictionary.com/definition/remarketing.html

Page 53: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

49

Singh, A. (n.d.). Retrieved August 20, 2014, from www.exchange4media.com:

http://www.exchange4media.com/57029_targeted-advertising-or-online-stalking.html

Tavani, H. T., & Grodzinsky, F. S. (2002). Cyberstalking, personal privacy, and moral

responsibility. Ethics and Information Technology, 4, 123–132.

Tufekci, Z. (2008). Can you see me now? Audience and disclosure regulation in online

social network sites. Bulletin of Science, Technology & Society, 28(1), 20–36.

What_the_remarketing_buzzword_is_really_all_about_11971.aspx. (2014, March 31).

Retrieved July 29, 2014, from www.healthcarecommunication.com:

http://www.healthcarecommunication.com/Main/Articles

Page 54: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

50

The El-Nino Impact and the Indian Agri Economy

Mr. Umar Farooq8

Abstract

India is the first country to experience the impact of El-Nino as and when it appears. The South-West Monsoon

which reaches the southernmost tip of the country on 1st June is delayed. There is a very strong positive correlation

between a good evenly distributed monsoon and the farm output and the overall Indian economy since almost two-

third of the Indian population is directly dependent on monsoon for farm production. Though over the years, the

dependence of agriculture on monsoon has reduced drastically. Presently, both Kharif and Rabi seasons contribute

equally to the total Indian farm production. As a result, the impact of a poor monsoon is not very strong.

Monsoon in India is not only cyclic or annual feature but our entire agriculture output is dependent on these rains.

El-Nino is expected this year and can impact our agri economy big way. This paper attempts to understand the

impact of El Nino on the Indian agri economy.

Key Words: El-Nino, India, Economic Growth, Agricultural Production, Farm Income

1.0 Objectives of the Study

To understand the occurrence of El-Nino phenomenon and its impact on Indian

monsoon

To comprehend the impact of monsoon on Agrarian Economy

To investigate the effect of El Nino on Wages

2.0 Research Approach

The study of this paper is through

Research Reports

Newspaper reports

Articles from the Internet

Periodicals and Business Magazines

8 Assistant Professor – Rizvi Institute of Management Studies & Research, [email protected]

Page 55: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

51

3.0 Introduction to El-Nino

The rise in the surface temperature in the Pacific Ocean of the coast of South America is defined

as the El-Nino effect. In Spanish El-Nino means “The boy child” and since the phenomenon

takes place generally in the month of December (around Christmas) and hence is named after

baby Jesus. The surface temperature in the east and central tropical Pacific Ocean rises at least by

0.5 degree Celsius over the long term average temperature, thus resulting in changes in wind

pattern leading to famines and floods in different parts of the world. In India, the El-Nino effect

leads to scanty rainfall, which could lead to severe drought conditions as well. The phenomenon

happens every two to seven years and lasts for about nine months to two years. Following are

the signs of El-Nino occurrence:

Rise in surface pressure over the Indian Ocean, Indonesia and Australia.

Rise of warm air near Peru (South America) leading to rains in Peruvian desert.

Fall in air pressure over central and eastern Pacific Ocean.

Figure1. Build-up of El Nino in Pacific Ocean

As can be seen from the image, the pattern of wind and water completely reverses itself in El-

Nino condition as against the normal scenario, leading to changes in climatic conditions.

Page 56: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

52

4.0 Importance of Monsoon to India

A healthy monsoon in India not only lifts farm output, but it also boosts spending on gold,

automobiles, consumer durables, housing and construction, personal care, entertainment,

processed foods, among others. An immediate effect of healthy monsoon is felt on the sale of

tractors, followed by demand for fertilizers. The consumption of gold also rises along with the

demand for consumer durables. This leads to increase in the manufacturing activity, which

propels the economy. Almost 48 per cent of the two wheelers and 44 per cent of the TV sets are

sold in rural India. More than 40 per cent of the demand for cement comes from rural

households.

5.0 Linking El-Nino to the Indian Monsoon

El-Nino is a 'warm' ocean current originating along the coast of Peru in continent of South

America that replaces the usually 'cold' Peru or Humboldt Current. This warm surface water

current reaching towards the coast of Peru with El-Niño is pushed westwards by the trade winds.

This raises the temperature of the southern Pacific Ocean. A reverse condition is known as La

Niña.

In short, El-Nino occurs when the waters in the equatorial pacific region become warmer than

normal. On the other hand, La Nina occurs when the equatorial pacific becomes cooler than

normal. Now the question is how it impacts the Indian Monsoon. The answer lies in

understanding of El Nino via another phenomenon called as ‘Southern Oscillation’.

Southern Oscillation is the see-saw relationship of atmospheric pressures between Tahiti and

Darwin, Australia. It has been noticed that when it was high pressure in Tahiti, it was low

pressure in Darwin and vice versa. A Southern Oscillation Index (SOI), based on the pressure

difference between Tahiti and Darwin, has been formulated by the Bureau of Meteorology

(Australia) to measure the strength of the Oscillation. It was first observed by Sir Gilbert

Thomas Walker, Director-General of Observatories in India.

Walker noticed that the quantity of rainfall in the Indian subcontinent was often negligible in the

years of high pressure at Darwin (and low pressure at Tahiti) which is called El Nino.

Conversely, low pressure at Darwin (La Nina) increased precipitation in India. Thus he

established the relationship of Southern Oscillation with quantities of Monsoon rains in India.

Page 57: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

53

In short, El Nino has an adverse impact on the Indian Monsoon whereas La Nina has a

favorable impact on Indian Monsoon. This year Indian Meteorological Department (IMD) and

other organizations have noticed El Nino phenomenon developing in Equatorial and tropical

pacific.

6.0 Linking El Nino & Indian Monsoon to Agri Economy

If El Nino happens this year, then IMD has forecasted that rainfall this monsoon could be 93

per cent of the long period average with a 33 per cent probability of deficient rains. The normal

monsoon, according to IMD is 96 – 104 per cent of the long period average. The South-West

monsoon months are between June and September in India. There is a possibility that if other

phenomenon that impacts monsoon does not get worsened, then this may neutralize the adverse

effects of El Nino to some extent. But the probability of neutralization is low.

Though the share of agriculture in GDP has come down to under 14 per cent in FY2013 as

compared to 38 per cent in FY1973, still 50 – 60 per cent of population is directly or indirectly

dependent on agriculture sector. Moreover, almost 50 – 60 per cent of the agricultural land in

India is rain fed and not irrigated. Therefore, there are always huge stakes involved in monsoon

phenomenon. If monsoon is below normal, India may face;

Agricultural output of food grains, food and vegetables will be much lesser this year.

If supply is lesser, demand remaining the same, then food prices will rise.

Food articles have more than 25 per cent weightage in Wholesale Price Index and even

more in other indices that measure inflation.

Figure 2 Monsoon Probabilities 2014

Page 58: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

54

7.0 El Nino and Wage Spiral

In economics, there is concept called as wage-price spiral. It means that if prices rise in an

economy, it will have a cascading effect on all commodities. Due to this, workers demand more

wages to maintain their living. Now if the wages also rise, it will also result in price-rise of those

commodities also where there is no component of food involved. If wages increase beyond a

certain point, it reduces the productivity of a country, which is even more dangerous in an era of

globalization.

8.0 Conclusion

Impact of Monsoon on Indian GDP

As can be seen, the monsoon is critical for revitalizing Indian economy and specifically when the

GDP growth is as it a decade’s low of sub-five per cent. The food inflation is persistently high

and at times in double-digits. In such an event a below average monsoon will further fuel the

inflation and drag the real economic growth. The GDP growth will come down by 50 – 60 basis

points (bps).

In agriculture sector, many areas may face drought and can lead to escalating debt burden on

farmers which may culminate into suicides. Though over the years, the impact of monsoon on

farm production is neutralized on account of sustained efforts towards increasing the rabi sowing

and output. Further, better irrigation facilities coupled with increased water storage and

availability in the non monsoon months has boosted the farm production. Also, the bumper

crop in the last couple years has boosted the food stock to tide over the impact of scanty rainfall.

So, a weaker monsoon due to the El Nino Effect may mean;

Higher Inflation: India is already reeling under high inflation for last five years. Now, to fight

inflation, RBI has been increasing interest rates to reduce money supply.

Investment slows down: High interest rates hamper investment activity in the industry as

borrowings become costlier. And finally the GDP growth rate slows down.

El Nino cannot be controlled. The only panacea in the long run is to increase irrigation and

reduce dependency on rains. For this inter-linking of Indian rivers is required which has been

very slow in India. It needs to speed up.

Page 59: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

55

References

Hindustan Times, Sunday 6th July, 2014, Pg 11

http://www.mbarendezvous.com/general-awareness-topic-el-nino-in-2014-might-

impact-Indian-economy-1453.php

The Financial Express, Saturday 12th July, 2014. Pg 1-2

Page 60: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

56

Book Review

McDonald, D. (2014). The Firm: The Story of McKinsey and its Secret Influence on

American Business. New York, US: Simon & Schuster Paperbacks. pp 384, Rs. 599

Genre: General Management

Duff McDonald is a New York-based journalist. A contributing editor at The New York

Observer, he has also written for The New Yorker, Vanity Fair, New York, Esquire, Fortune,

Business Week, Conde Nast Portfolio, GQ, WIRED, Time, Newsweek, and others.

The McKinsey Mystique

There is an aura about the world’s best consulting firm called ‘McKinsey’. This book captures

the reason why this firm is amongst the world’s best. The book starts with a very intriguing

quote from Chairman and CEO, JP Morgan Chase: “I think consultants can become a disease

for corporations”. This book gives an unbiased view on how McKinsey’s negative contributions

to business corporations across the world especially in the USA.

The Ozark Farm Boy

The history of American business is the story of men who came along with a healthy dose of

confidence. James O. Mckinsey’s confidence was not about how to do business but to tell the

rich and the powerful what they are doing wrong. This is where Mckinsey really stands out

differently and continues to offer this very difference to corporations the world over

The book divided into 11 chapters takes the reader through the making of Mckinsey from its

inception stage, what is the differentiation that McKinsey really stood for. This explains this

differentiation by an anecdote "Let's say a client asks us what time it is. . . . If you ask Booz

Allen, their response will be 'What time do you want it to be?' If you ask A.D. Little . . . they will

tell you 'It's 9:45:20, Greenwich Mean Time.' But if you ask McKinsey, we will say 'Why do you

want to know? What decisions are you trying to make for which knowing the time would be

helpful?' "

It all started in the year 1935, founder James O. "Mac" McKinsey, an accountant by training,

landed Marshall Field & Co. as a client. The retailer was awash in red ink and faced a big loan

payment. McKinsey's solution was for the company to shed a wholesale business and some

textile mills, then slash costs.

Page 61: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

57

Marshall Field's directors liked the plan so much that they persuaded Mac McKinsey to come

over and wield the axe himself. What he failed to anticipate was the human cost—to the 1,200

laid-off workers and those remaining who were dismayed to realize that management, as Mark

Twain might say, "don't give a dead rat" about them as people. McKinsey himself received death

threats, became depressed and, in a weakened state, succumbed to pneumonia in 1937.

Known thereafter as the "McKinsey Purge," the bloodbath set the precedent for many more

"downsizings" to come. Even now, news that "McKinsey is coming" provokes a flurry of fear

and apprehension. And the managers who retain McKinsey know it. Condé Nast hired the firm

in 2009 in part to send a message that it was serious about cost cutting. Even today, the firm

analyses cases like that of a lawyer and this is another differentiating factor of McKinsey

The firm eventually proved its mettle to the US corporate world and event found the firm has

been compared to the Jesuits and the U.S. Marines for it arduous approach to work , rigor and

tenacity. Known to be brutal, the Firm is all about the survival of the fittest. The policy framework is

designed to really give their clients better than the best in the world of consulting.

The author as much as he give due credit to the firm, has given detailed accounts of its mistakes

and failures. Whatever McKinsey is selling, it has certainly been able to get away with charging a

teeth-chattering premium above what others do. The premium was not always worth it. This can

been wittily explained in the AT&T case where the firm paid McKinsey $96 million for five years

of hand-holding in the 1990s. Tanzania shelled out so much to McKinsey in the early 1970s to

help plan its future that the fees became a line item in the country's budget.

Therefore how does McKinsey really justify the moolah it rakes in? To begin with, it sends in a

team of talented, passionate, and sometimes even brutally M.B.A.s to simplify a complex

problem such as Stagnated growth, improvisation in production, pricing quality issues, and

pricing. Then, after an intensive data collecting exercise, the team dives into some kind of state

of the art analysis. Then plan of action is prepared, which may to some extent be a replica of

what the Firm has done for some other clients (may be) with a similar set of problems.

McKinsey has a unique quality of retaining customers, and this loyalty proves to be profitable for

the Firm. These repeat customers are called “transformational relationships” who contribute 85

% of McKinsey’s earnings. This Firm’s earnings is roughly 7 Billion dollars.

The author takes us through several of the Firm’s feats:

The most famous one being General Electric: in 1968 McKinsey was hired to analyse its strategic

planning. The solution was to transform the giant company’s 360 departments into 50 "strategic

Page 62: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

58

business units" and make each of them focus "outwardly" on external market forces rather just

focus on costs of paper clips. Management gurus, however debate that the turnaround enabled

future CEO Jack Welch to take credit for what he did later. The author has similarly accounted

for several such feats

Will the aura of McKinsey last? The author expresses his fears and wonders how this will last. To

begin with The Firm today is huge and therefore quality and processes maintenance is a massive

challenge. The Firm over the years has also become inhuman because of the fanatical

competitive that its employees share. Once a pillar of strength to ailing companies, McKinsey

today is more like banking advisory outfit.

McKinsey’s greatest challenge going forward – the true test of its genius-is no longer finding

inspired solutions to its client’s problems. The test is managing the complications that have

resulted from its own stupendous success. One of the firm’s recently stated goals is helping to

“solve the world’s great problems. But if it wants to achieve this, it’s going to have to continue

solving its own.”

This book is useful for management consultants and management students. The author’s holistic

and insightful and critical approach to the world’s most prestigious Firm gives a different

perspective to the business of consulting.

By Anjali Talreja

Assistant Professor

Rizvi Institute of Management Studies & Research

Page 63: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

59

Book Review

Jeffery, R., & Doron, A. (2013). Cell Phone Nation: How Mobile Phones Have

Revolutionized Business Politics and Ordinary Life in India. Hachette India. pp 293. Rs.

499.

The aptly titled book ‘Cell Phone Nation– How Mobile Phones Have Revolutionized Business,

Politics and Ordinary Life in India’ captures the myriad impact of Mobile Phones and presents

an accurate account of the at-once profound and rapid transformation forces set in motion

owing to the emergence and ever-growing usage of cell phones in three important areas –these

three areas in fact sum up the existence of people of any Country- of Business, Politics and

Everyday /mundane existence of common people in India. Robin Jeffrey , Visiting Professor,

Institute of South Asian Studies and Asia Research Institute, National University of Singapore

and Assa Doron, Australian Research Council Future Fellow in the College of Asia and the

Pacific, Australian National University, Canberra and author of ‘Caste, Occupation and Politics on the

Ganges: Passages of Resistance’ collaborated on this project .Drawing on their varied and rich

experiences and observations in their to-begin –with brief skirmishes which later developed into

their longer and deeper relationships allowing them to observe people at close quarters, the

author duo put forth an exhaustive study of the mobile phone’s evolving use by Indians and its

concomitant impact on India’s growing economy. The author duo draw on their varied and rich

experiences of meeting Indians from different walks of life and observing their usage of mobile

phones for various purposes in various settings at close quarters.

Parallels can be drawn with the works of Rich Ling who as sole author and co-author has written

a series of books on the theme of mobile and society namely, New Tech, New Ties: How Mobile

Communication is shaping Social Cohesion; The Mobile Connection: the Cell Phone’s Impact on Society; Mobile

Communication: Bringing Us together and Tearing Us Apart; Mobile Connection : The Cell Phone’s Impact on

Society. Ling’s work by virtue of being a pan-global study does not dwell deep on Mobile’s Impact

in India- a gap which Jeffrey and Doron propose to fill. The authors account also draws heavily

on the two constructs of ‘Domestication’ and ‘Performativity’ as was the case with predecessors

like Horst, Miller, Katz and Ling who researched in the area of interactions between humans and

technology.

‘Domestication’ refers to the ways in which a new device like mobile phone became a part and

parcel of an individual’s daily existence and how they adapted, acquired or refused to accept

them to suit their own requirements and conditions. ‘Performativity’ refers to the way a device

becomes a prop to be used by people in presenting themselves to the world.

Page 64: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

60

The book is divided into three Parts viz. Controlling, Connecting and Consuming. The first

section ‘Controlling’ spreads over two chapters investigates how rulers and influential people

have controlled the flow and access of information and traces the history over 500 years from

Mughal rulers to recent allocation of Radio Frequency Spectrum and the role of ‘big business,

bureaucrats and politicians’ of today.

The second section aptly christened ‘Connecting’ spread over two chapters- ‘Missionaries of the

Mobile’ and ‘Mechanics of the Mobile’ -seeks to comprehend the mind-boggling fast-paced

proliferation of mobiles in a short span of 10-12 years from being nowhere in scene to achieving

the status of a constant fixture in the hands of a huge chunk of India’s billion plus population

otherwise characterized by low literacy levels as also widespread and abject poverty.

The third section called ‘Consuming’ -consisting of four chapters - delves deep into the way

Indians use mobiles in different walks of life viz. business, politics and domestic life. Jeffery and

Doron also present an accurate account of dark side of Cell phone’s usage for various

wrongdoings from Waywardness to crimes of pornography, Scandal and surveillance, and

Espionage and terror.

The ‘Conclusion’ recapitulates the gist of the book and also touches upon the impact of mobile

phones on aspects such as health, Mobile Waste, Social Networks, Language and media, Politics

and governance. The benefits of mobiles in diagnosing eye ailments, BP; monitoring diabetes

and providing medical interventions in far-flung areas are enumerated in detail. The long term

health hazards of cell phone radiation are also brought to light. The author duo put forth a grim

picture of the process of disposal used for Mobile waste or e-waste fraught with severe health

hazards to people involved as well as the public in general with release of toxic substances into

air, soil and water.

The authors illuminate the positive effect of Mobile phones on earning potential of not just

Telecom majors like Vodafone, Airtel, Reliance and others but also farmers, fishermen, rickshaw

pullers, boatmen and dhobis owing to ‘the unprecedented access to information and resources’.

The mobile revolution also spawned a plethora of new occupations like recyclers, repairers,

second-hand dealers, sales people, marketers, technicians etc. The authors opine that Cell phone

are instrumental in driving Indian citizens into a far more deeper and comprehensive relationship

with the state apparatus like no other technology or mechanism has been able to achieve so far.

And by doing so it has not completely overturned power structures or stamped out inequality

but has made the equation between the state and its citizens ‘more democratic’.

Page 65: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

61

The book presentation of one vignette after the other to drive home the widespread use of Cell

phones in all walks of life is a delight for anthropologists. The book is written in the manner of a

newspaper article with lot of exuberance suffusing the accounts of people. Jeffery and Doron

also pepper their account with telling pictures (24 in number) with captions culled out from the

mundane existence of people in India. The language is racy, the description lucid and the style is

journalistic.

The book would be of considerable interest to MNCs or foreign business men wanting a peek in

the way Indians use the power of mobile phones and how the same can be harnessed to provide

them solutions. The book has interesting commentary of relevance to students of sociology,

anthropology and social sciences. But for management students there are no major insights to be

found except reaffirmation of commonplace observations on the use of mobiles by Indian

consumers which in any case has been well covered by print and audio-visual media in various

formats of news and entertainment.

By Garima Sharma

Associate Professor

Rizvi Institute of Management Studies & Research

Page 66: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

62

Bibliography On

Sustainable Management

Ahlrichs, Frank (2012) “Controlling of sustainability: How to manage a sustainable business”

Journal of Organizational Transformation & Social Change, 9 (2), pp. 141-153.

Alshuwaikhat, Habib M. & Abubakar, Ismaila (2007) “Towards a Sustainable Urban

Environmental Management Approach (SUEMA): Incorporating Environmental

Management with Strategic Environmental Assessment (SEA)” Journal of Environmental

Planning & Management, 50 (2), pp. 257-270.

Arriens, Wouter Lincklaen (2002) “Regional Issues and Actions for Sustainable Water

Management in the Asia-Pacific” International Review for Environmental Strategies, 3 (2), pp. 240-

246.

Audebrand, Luc K. (2010) “Sustainability in Strategic Management Education: The Quest for

New Root Metaphors” Academy of Management Learning & Education, 9 (3), pp. 413-428.

Basile, Gianpaolo, Miano, Francesca & Scozzese, Giancarlo (2014) “Sustainable Place

Marketing and Management: an holistic approach Two Italian Cases” International Journal of

Management Cases, 16 (3), pp. 59-75.

Behrens, Doris A., Bednar-Friedl, Birgit & Getzner, Michael (2009) “Sustainable

Management of an Alpine National Park: Handling the Two-Edged Effect of Tourism”

Central European Journal of Operations Research, 17 (3), pp. 233-253.

Bhaskar, Hari Lal (2013) “Green Marketing: A Tool for Sustainable Development”

International Journal of Research in Commerce & Management, IV (VI), pp. 142-146.

Bhowmik, Jahar & Tewari, Soumasree (2010) “Basel Accord and the Failure of Global Trust

Bank: A Case Study” IUP Journal of Bank Management, 9 (3), pp. 37-62.

Carbone, Valentina, Moatti, Valerie & Vinzi, Vincenzo Esposito (2012) “Mapping Corporate

Responsibility and Sustainable Supply Chains: an Exploratory Perspective” Business Strategy &

the Environment, 21 (7), pp. 475-494.

Carcano, Luana (2013) “Strategic Management and Sustainability in Luxury Companies”

Journal of Corporate Citizenship, (52), pp. 36-54.

Chumsri, Preechaya, Chanin, Oraphan & Sriprasert, Pingpis (2014) “Guidelines on

Developing Community Base Tourism to Sustainable Management of Tourist Attractions”

Journal of Economics, Business and Management, 3 (6), pp. 653-655.

Page 67: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

63

Cole, Sarah A, Chaudhary, Raj & Bang, Derek A. (2014) “Sustainable Risk Management For

An Evolving Healthcare Arena” HFM (Healthcare Financial Management), 68 (6), pp. 110-114.

Comello, Stephen D., Lepech, Michael D. & Schwegler, Benedict R. (2012) “Project-Level

Assessment of Environmental Impact: Ecosystem Services Approach to Sustainable

Management and Development” Journal of Management in Engineering, 28 (1), pp. 5-12.

Courbage, Christophe & Mahul, Olivier (2013) “Promoting Better Understanding On

Sustainable Disaster Risk Management Strategies” Geneva Papers On Risk & Insurance - Issues

& Practice, 38 (3),pp 401-405.

Dahlstrom, Kristina, Skea, Jim & Stahel, Walter R. (2003) “Innovation, Insurability and

Sustainable Development: Sharing Risk Management between Insurers and the State” Geneva

Papers on Risk & Insurance - Issues & Practice, 28 (3), pp. 394-412.

Daigger, Glen T. (2007) “Wastewater Management in the 21st Century” Journal of

Environmental Engineering, 133 (7), pp. 671-680.

Davila, Antonio, Foster, George & Jia, Ning (2010) “Building Sustainable High-Growth

Startup Companies: MANAGEMENT SYSTEMS AS AN ACCELERATOR” California

Management Review, 52 (3), pp. 79-105.

Deutz, Pauline, Neighbour, Gareth & McGuire, Michael (2010) “Integrating Sustainable

Waste Management into Product Design: Sustainability As A Functional Requirement”

Sustainable Development, 18 (4), pp. 229-239.

Dewlaney, Katie Shawn & Hallowell, Matthew (2012) “Prevention through Design and

Construction Safety Management Strategies for High Performance Sustainable Building

Construction” Construction Management & Economics 30 (2), pp. 165-177.

Dunmade, Israel (2010) “Collaborative lifecycle design - A viable approach to sustainable

rural technology development” International Journal of Technology Management & Sustainable

Development, 9(2), pp. 149-158.

Ebiringa, Thaddeus Oforegbunam & Kule, Lasis (2014) “Off shoring for Sustainable Value

Management” Serbian Journal of Management, 9 (1), pp. 105-119.

Elliott, H. A. & Jaiswal, D. (2012) “Phosphorus Management for Sustainable Agricultural

Irrigation of Reclaimed Water” Journal of Environmental Engineering, 138 (3), pp. 367-374.

Finney, R. Zachary, Campbell, Noel & Orwig, Robert (2004) “From Strategy To Sustainable

Competitive Advantage: Resource Management As The Missing Link” Marketing Management

Journal, 14 (1), pp. 71-81

Page 68: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

64

Font, Xavier, Tapper, Richard, Schwartz, Karen & Kornilaki, Marianna (2008) “Sustainable

supply chain management in tourism.” Business Strategy & the Environment, 17 (4), pp. 260-

271.

Fürst, Elmar & Oberhofer, Peter (2011) “Environmental Management: A Brick In The Wall

Of Sustainable Management - Transport For Hire Or Reward And Own-Account Transport

On Trial” International Journal of Management Cases, 13 (3), pp. 571-583.

Geldermann, J., Treitz, M. & Rentz, O. (2007) “Towards sustainable production networks”

International Journal of Production Research, 45 (18/19), pp. 4207-4224.

Gladwin, Thomas N., Kennelly, James J. & Krause, Tara-Shelomith (1995) “Shifting

Paradigms for Sustainable Development: Implications for Management Theory and

Research” Academy of Management Review, 20 (4), pp. 874-907.

Gossen, L. & Velichkina, L. (2012) “Environmental problems of sustainable management of

oil and gas resources and production of high-quality petroleum products” Petroleum

Chemistry, 52 (2), pp. 133-137.

Gössling, Stefan; And Et All (2012) “Transition Management: A Tool For Implementing

Sustainable Tourism Scenarios?” Journal of Sustainable Tourism, 20 (6), pp. 899-916.

Gračan, Daniela, Zadel, Zrinka & Rudančić-Lugarić, Andreja “Management of Sustainable

Tourism Development: Case Study Plitvice Lakes National Park” International Journal of

Management Case, 13 (4), pp. 24-33.

Grigg, Neil S. (2011) “Leadership for Sustainable Water Management: Challenges and

Opportunities” Leadership & Management in Engineering, 11 (2), pp.121-127.

Guthrie, James, Ball, Amanda & Farneti, Federica (2010) “Advancing Sustainable

Management of Public and Not for Profit Organizations” Public Management Review, 12 (4),

pp. 449-459.

Haasnoot, M., Middelkoop, H., Van Beek, E. & Van Deursen, W. P. A. (2011) “A method to

develop sustainable water management strategies for an uncertain future” Sustainable

Development, 19 (6), pp.369-381.

Hassan, Osama A. B. (2006) “An Integrated Management Approach To Designing

Sustainable Buildings” Journal of Environmental Assessment Policy & Management, 8 (2), pp. 223-

251.

Haukeland, Jan Vidar (2011) “Tourism Stakeholders' Perceptions of National Park

Management in Norway” Journal of Sustainable Tourism.19 (2), pp. 133-153.

Page 69: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

65

Heher, A. D. (2005) “Implications of international technology transfer benchmarks for

developing countries” International Journal of Technology Management & Sustainable Development, 4

(3), pp. 207-225.

Helali, Faramarz (2012) “How Could You Use The Ergonomics 'Knowhow' Transfer

Management To Enhance Human Working For Sustainable Improvements In Industrially

Developing Countries?” Work, 41, pp. 2730-2735.

Hurt, Mimi & Thomas, Janice L. (2009) “Building Value Through Sustainable Project

Management Offices” Project Management Journal, 40 (1), pp. 55-72.

Jabbour, Charbel Jose Chiappetta & Santos, Fernando Cesar Almada (2008) “The Central

Role of Human Resource Management in the Search for Sustainable Organizations”

International Journal of Human Resource Management, 19 (12), pp. 2133-2154.

Jain, Vipul (2012) “Special Issue on Sustainable Supply Chain Management and Reverse

Logistics” International Journal of Production Research 50 (5), pp.1239-1242.

Kleindorfer, Paul R., Singhal, Kalyan & Van Wassenhove, Luk N. (2005) “Sustainable

Operations Management” Production & Operations Management, 14 (4), pp. 482-492.

Larson, Lincoln R. & Poudyal, Neelam C. (2012) “Developing Sustainable Tourism through

Adaptive Resource Management: Case Study” Journal of Sustainable Tourism 20 (7),

pp. 917-938.

Li, Chong (2013) “An integrated approach to evaluating the production system in closed-

loop supply chains” International Journal of Production Researc,h 51 (13), pp. 4045-4069.

Loorbach, Derk (2010) “Transition Management for Sustainable Development: A

Prescriptive, Complexity-Based Governance Framework” Governance, 23 (1), pp. 161-183.

Lopez, Urko, Lopez, Sain & Larrañaga, Iñaki (2009) “Innovation in industrial cooperatives:

special features and potential of the Mondragon model” International Journal of Technology

Management & Sustainable Development, 8 (1), pp. 39-56.

Lützkendorf, Thomas & Lorenz, David (2005) “Sustainable Property Investment: Valuing

Sustainable Buildings through Property Performance Assessment” Building Research &

Information, 33 (3), pp. 212-234.

Mann, Hanuv, Kumar, Uma, Kumar, Vinod & Mann, Inder Jit Singh (2010), “Drivers of

Sustainable Supply Chain Management” IUP Journal of Operations Management, 9(4), pp. 52-63.

Mapedza, Everisto, Geheb, Kim, van Koppen, Barbara & Chisaka, Jonathan (2012)

“Narratives from a wetland: Sustainable management in Lukanga, Zambia” Development

Southern Africa, 29 (3), pp. 379-390.

Page 70: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

66

Marcellus, Ikeanyibe Okey (2010) “The Imperative of Integrated Mineral and Oil Resources

Extraction and Management Policy for Sustainable Peace and Development in Nigeria”

Journal of Environmental Assessment Policy & Management, 12 (1), pp. 51-68.

Margherita, Alessandro, Elia, Gianluca, Secundo, Giustina & Passiante, Giuseppina (2012)

“Sustainable mobility: An integrative framework and its application for new service design”

International Journal of Technology Management & Sustainable Development, 11 (1), pp. 31-49

Matar, Mohamed M., Georgy, Maged E. & Ibrahim, Moheeb Elsaid (2008) “Sustainable

construction management: introduction of the operational context space (OCS)” Construction

Management & Economics, 26 (3), pp. 261-275.

McDonald, Seonaidh, Oates, Caroline J. Alevizou, Panayiota J., Young, C. William & Hwang,

Kumju (2012) “Individual strategies for sustainable consumption” Journal of Marketing

Management, 28 (3/4), pp. 445-468.

Mehta, Tushna & Majumdar, Aloka (2012) “HSBC: CSR for Corporate Sustainability”

Vikalpa: The Journal for Decision Makers, 37 (2), pp. 90-93.

Mensah, Ishmael (2007) “Environmental Management and Sustainable Tourism

Development: The Case of Hotels in Greater Accra Region (GAR) Of Ghana” Journal of

Retail & Leisure Property, 6 (1), pp. 15-22.

Mitev, Nathalie & Venters, Will (2009) “Reflexive Evaluation of an Academic–Industry

Research Collaboration: Can Mode 2 Management Research be Achieved?”Journal of

Management Studies, 46 (5), pp.733-754.

Montgomery, Rebecca A.,Pelkki, Matthew H. & Mehmood, Sayeed R. (2005) “Use and cost

of Best Management Practices (BMPs) and BMP-related Sustainable Forestry Initiative

guidelines to Arkansas timber producers” Forest Products Journal, 55 (9), pp. 67-73.

Mukhopadhyay, Kankana, Sil, Jaya & Banerjea, N.R. (2011) “A Competency Based

Management System for Sustainable Development by Innovative Organizations: A Proposal

of Method and Tool” Vision, 15 (2), pp. 153-162.

Murali, K. S., Murthy, Indu K. & Ravindranath, N. H. (2006) “Sustainable Community

Forest Management Systems: A Study on Community Forest Management and Joint Forest

Management Institutions from India” International Review for Environmental Strategies, 6 (10), pp.

23-39.

Nanda, Ved P. & Bellish, Jonathan (2013) “Moving From Crisis Management to A

Sustainable Solution For Somali Piracy: Selected Initiatives And The Role Of International

Law” Case Western Reserve Journal of International Law, 46 (1/2), pp. 43-89.

Page 71: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

67

Ngai, E.W.T., Chau, D.C.K., Poon, J.K.L. & To, C.K.M. (2013) “Energy And Utility

Management Maturity Model For Sustainable Manufacturing Process” International Journal of

Production Economics, 146 (2), pp. 453-464.

Offermans, Astrid, Haasnoot, Marjolijn & Valkering, Pieter (2011) “A Method to Explore

Social Response for Sustainable Water Management Strategies under Changing Conditions”

Sustainable Development, 19 (5), pp. 312-324.

Orchiston, Caroline (2012) “Seismic risk scenario planning and sustainable tourism

management: Christchurch and the Alpine Fault zone, South Island, New Zealand” Journal of

Sustainable Tourism, 20 (1), pp. 59-79.

Pade-Khene, C., Mallinson, B. & Sewry, D. (2011) “Sustainable rural ICT project

management practice for developing countries: investigating the Dwesa and RUMEP

projects” Information Technology for Development, 17 (3), pp. 187-212.

Parmentier, Guy & Gandia, Romain (2013) “Managing Sustainable Innovation with a User

Community Toolkit: The Case of the Video Game Trackmania” Creativity & Innovation

Management, 22 (2), pp. 195-208.

Paulauskas, Stasys & Paulauskas, Aleksandras (2008) “The Virtualics and Strategic Self-

Management as Tools for Sustainable Development” Technological & Economic Development of

Economy, 14 (1), pp. 76-88.

Pettit, Carol, et al. (2011) “Sustainable Management of Urban Pollution: An Integrated

Approach” Building Services Engineering Research & Technology, 32 (1), pp. 21-34.

Pfeffer, Jeffrey (2005) “Producing Sustainable Competitive Advantage through the Effective

Management of People” Academy of Management Executive, 19 (4), pp. 95-106.

Pillania, Rajesh K. (2005) “New Knowledge Creation Scenario in Indian Industry” Global

Journal of Flexible Systems Management, 6 (3/4), pp. 49-57.

Pinto, C. Ariel, Arora, Ashish, Hall, Dennis & Schmitz, Edward (2006) “Challenges to

Sustainable Risk Management: Case Example in Information Network Security” Engineering

Management Journal, 18 (1), pp. 17-23.

Plummer, Ryan & Fennell, David A. (2009) “Managing Protected Areas for Sustainable

Tourism: Prospects for Adaptive Co-Management” Journal of Sustainable Tourism, 17 (2),

pp. 149-168.

Plummer, Ryan (2006) “The Evolution of Sustainable Development Strategies In Canada:

An Assessment Of Three Federal Natural Resource Management Agencies” Sustainable

Development, 14 (1), pp. 16-32.

Page 72: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

68

Rahardjo, Hartono, Idrus, M. S, Hadiwidjojo, Djumilah & Aisjah Siti (2013) “Factors that

Determines the Success of Corporate Sustainability Management” Journal of Management

Research, 5 (2), pp. 1-16.

Rais, M. & Sharma, (2008) “Characterising Indicators Of Sustainable Land Management In

Indian Himalayan Sloping Lands” D. C. Journal of Environmental Assessment Policy &

Management, 10 (4), pp. 431-460.

Rao, K. H., Raju, P. N., Reddy, G. P. & Hussain, S. A. (2013) “Public-Private Partnership

and Value Addition: A Two-Pronged Approach for Sustainable Dairy Supply Chain

Management” IUP Journal of Supply Chain Management, 10 (1), pp. 15-25.

Ray, Subhasis (2009) “Challenges to Sustainable Project Management (and Closure): Rio

Tinto's Kelian Project” ICFAI Journal of Environmental Economics, 7 (2), pp. 89-102.

Robichaud, Lauren Bradley & Anantatmula, Vittal S (2011) “Greening Project Management

Practices for Sustainable Construction” Journal of Management in Engineering, 27 (1),

pp. 48-57.

Robinson, Nicholas (2012) “Beyond Sustainability: Environmental Management For The

Anthropocene Epoch” A. Journal Of Public Affairs, 12 (3), pp. 181-194.

Rocha, Miguel, Searcy, Cory & Karapetrovic, Stanislav (2007) “Integrating Sustainable

Development into Existing Management Systems” Total Quality Management & Business

Excellence, 18 (1/2), pp. 83-92.

Schirru-Nowicka, Agnieszka, Kopets, Anatoliy & Harasevych, Oleh (2011) “The Value Of

The Display® Campaign As A Voluntary Energy And Environmental Performance

Certification System Of Buildings For Sustainable Municipal Energy Management In

Ukraine” Innovation: the European Journal of Social Science, 24 (1/2), pp. 57-83.

Scholz, Miklas, Hedmark, Åsa & Hartley, William (2012) “Recent advances in sustainable

multifunctional land and urban management in Europe: a review” Journal of Environmental

Planning & Management, 55 (7), pp. 833-854.

Seuring, Stefan (2011) “Supply Chain Management for Sustainable Products - Insights From

Research Applying Mixed Methodologies” Business Strategy & The Environment, 20 (7), pp. 471-

484.

Shi, Qian, Zuo, Jian & Zillante, George (2012) “Exploring The Management Of Sustainable

Construction At The Programme Level: A Chinese Case Study” Construction Management &

Economics, 30 (6), pp. 425-440.

Page 73: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

69

Shooshtarian, Ashan, Zibaei, Mansour & Soltani, Gholam Reza (2012) “Sustainable Farm

System Management Considering Economic And Environmental Attitudes” Applied

Economics Letters, 19 (17), pp. 1745-1752.

Shrivastava, Paul (2010) “Pedagogy of Passion for Sustainability” Academy of Management

Learning & Education, 9 (3), pp. 443-455.

Sikdar, Priti (2011) “Alternate Approaches to Business Impact Analysis” Information Security

Journal: A Global Perspectiv, 20 (3), pp. 128-134.

Singh, Katar, Kotwal, P. C. & Mali, Kiran P. (2010) “Forest resource accounting for

sustainable forest management: An exploratory study in India” International Journal of

Technology Management & Sustainable Development, 9 (1), pp. 53-74.

Ugarte, Luxio, Agirre, Amaia & Juaristi, Eli. (2009) “The Cohesive Power Of New

Management Alternatives: Principal Components Of The Irizar Model” International Journal of

Technology Management & Sustainable Development, 8 (1), pp. 13-26.

Walsh, Heather & Dowding, Timothy J. (2012) “Sustainability and The Coca-Cola Company:

The Global Water Crisis and Coca-Cola's Business Case for Water Stewardship” International

Journal of Business Insights & Transformation, 4 (2012 Special Issue), pp. 106-118.

Weiss, Stéphane, Vollet, Dominique & Bouillaguet, Brigitte (2004) “Continuous assessment

and regional sustainable development policy in France” Policy Studies, 25 (4), pp. 295-305.

Williams, Meryl J. (2005), “Are High Seas And International Marine Fisheries The Ultimate

Sustainable Management Challenge?” Journal of International Affairs, 59 (1), pp. 221-234.

Wong, Christina W. Y. “Leveraging Environmental Information Integration to Enable

Environmental Management Capability and Performance” Journal of Supply Chain Management,

49 (2), pp. 114-136.

Yamamura, Jeanne H. & Stedham, Yvonne E. (2009) “Sustainable Management Of An

International Workforce: The Role Of Information In The Management Of Accountants”

Journal of International Business Research, 8, pp. 1-19.

Ziolkowska, Jadwiga & Ziolkowski, Bozydar (2010) “Generational Dematerialization of

Energy in the World Economy: Evaluation Approach for Sustainable Management Policy”

Journal Of Environmental Assessment Policy & Management, 12 (3), pp. 291-309.

Compiled By – Aparna Parab

Librarian

Rizvi Institute of Management Studies & Research

Page 74: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

70

Guidelines for submission of research paper

1. The journal accepts only original research work based any management stream which

includes Commerce , General Management , Human Resource , Marketing , Information

Technology , Systems or Operations.

2. The author of the research paper should disclose details : Full name , designation,

address , emails and contact number

3. The format of the paper is as follows:

Manuscript should be clearly typed in a MS Word document in double space with 1

& ½ “margin on the left, ½” on the right, 1” on the top and 1” on the bottom.

The font size should be 12 in Times New Roman

Please add graphs and diagrams wherever necessary

The manuscript should not exceed more than 30 typed pages in the aforesaid format

including tables, graphs, diagrams and appendices.

Every paper must be accompanied by a statement that the paper is the author’s own

work and has not already been published or submitted to any other journal

The cover page of research report should encompass the following :

Title of the paper

Author’s name

Mailing address

Email address

Professional affiliation ( if different from the mailing address)

Acknowledgements to be attributed ( if any)

The manuscript should include an abstract of 100 to 150 words ( including 4

to 6 key words)

All notes should be numbered with footnotes

References should be given separately at the end of the paper and arranged

alphabetically

The paper should only include research done by the author, in case of

references then please follow the following guidelines:

In case of periodicals:

Journal name, author/s name, years of publication, volume &

number, title of the article, exact page number of the article.

Page 75: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

71

For eg: Tobin J, 1958, Liquidity preference as behaviors

towards risk. Review of Economic Studies , 25 (2): 65 – 86

Guidelines for submission of Books Reviews

Dubrin , A ( 1984), Foundations of organizational behavior: An applied approach , New

Jersey , Prentice hall

Taylor, B and Willis, G ( Eds) , ( 1970) , Pricing Strategy. Princeton , NJ : Brandon

System

If an article has no author, the periodical or newspapers is referenced

as follows:

Business Standard, 2003, TCL beats baron in FIPB war. Dec 16: 12

For chapters in books , follow this form :

Srinivas, E S (1994. Perceived Quality of Working Life (PQWL) and

organizational commitment, A study of managers in select

organizations. In N K Gupta and A Ahmad ( Eds) , Management

research , Contemporary issues, New Delhi : South Asia Publications

For unpublished research papers presented as working papers,

dissertations and papers presented at meetings :

Sachs, JD, Bajpai N and Ramiah, A 2002, Understanding regional

growth in India. CID working Paper No 88. Center for International

Development, Harvard University, Massachusetts.

Gupta, S. 1993, Optimal retailer pricing and purchasing in a dynamic

environment. Unpublished doctoral dissertation. Cornell University,

Ithaca , NY

Wall, J P 1983, Work and non work correlates of the career plateau. Paper

presented at the annual meeting of the Academy of management ,

Dallas

For electronic documents

Give the author’s name, if known and year of publication, or give the

periodical / newspaper’s name of the organization‘s name as author.

This should be followed by the full title of the document, the http, or

other addresses and the date the document was posed or accessed.

Basu, 1, 2004, India’s thorny FDI rule under scrutiny. Asia

Times , May 28,

Page 76: MaCrude Oil, also termed as ‘black gold’ is a commodity which along with gold is the best barometer of the Global Economy. In an upward economic cycle, price of oil rises gradually;

Management Vision

72

http://www.atimes.com/atimes/South_asia/FE28Df03.html

accessed on April 27, 2004

Financial Express, ICI yet to respond to Asian paints offer to

buy 9.1 % stake.

http://www.expressindia.com/fe/daily/19980129/02955144.

html . Accessed on April 27, 2004

Citation in the text should simply give the name of the author and the

year of the publication quoted for example:

Theil ( 1970)

A few studies have been done in this area ( Gupta , 1990 : Srivasatav ,

2003: Sen 1999 , 2001 : Dasgupta , 2003a , 2003b)

Page numbers should be provided whenever another author/text is

quoted

Eg: According to Saini (2000, 35), “the buzz word in people

management is India is HRD and not HRM.”

References:

Two or more referees review all contributions will follow the ‘double

blind’ system.

The review process will approximately take 2 months.

The editorial team of Management Vision reserves the right of

making editorial amendments in the final draft of the manuscript to

suit journal’s requirement