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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

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(i)
 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

MTC GLOBAL JOURNAL OF MANAGEMENT AND

ENTREPRENEURSHIP
A quarterly research journal from MTC Global
CONTENTS

TRANSFORMING RECRUITMENT IN THE POST- DM Arvind Mallik

COVID ERA: THE ROLE OF SOCIAL MEDIA AND Associate Professor
DIGITAL SOLUTIONS Dept of MBA, PESITM, 1- 16
Shivamogga, India

Venkatesh Ganapathy,
Research Scholar, School of
Management,
DECODING THE FAILURE OF LOCAL BANYA: Presidency University,
MUMBAI’S Bangalore.
FIRST ONLINE GROCERY STORE 17 -23
Dr. Chithambar Gupta
Professor – Marketing, School of
Management,Presidency
University,Bangalore

Dr. Grace Hemalatha

Associate professor, Department
of MBA, Shridevi Institute of
Engineering and Technology,
Tumkur, Karnataka, India
A STUDY ON IMPACT OF ONLINE MARKET
PERCEPTION ON CONSUMER BUYING 24 - 28
Ms. Namitha M N
BEHAVIOUR TOWARDS COSMETICS
2nd year MBA Student,
Department of MBA, Shridevi
Institute of Engineering and
Technology, Tumkur,
Karnataka, India

Dr. Ranjit Kumar Siringi

Assistant Professor, Department
A STUDY ON RISK AND RETURN OF of Commerce and Management
ALTERNATIVE INVESTMENT OPPORTUNITIES 29 – 41
Studies
Andhra University ,
Visakhapatnam, India

(ii)
 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

Ms. Rashmi Tripathi

Assistant Professor, Amity
THE DIGITAL TRANSFORMATION AND Business School, Amity
INNOVATION OF INDIAN CITIES: University, Lucknow
OPPORTUNITIES AND CHALLENGES OF THE 42 – 51
KNOWLEDGE ECONOMY

Dr.Sudhir K. Pode
Associate Professor &
HOD MBA
THE STUDY OF NEED ASSESSMENT IN AND Ballarpur Institute of
AROUND CHANDRAPUR CITY IN THE STATE Technology, Ballarpur
Gondwana University Gadchiroli 52 – 65
OF MAHARASHTRA IN INDIA

(iii)
MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710
 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

TRANSFORMING RECRUITMENT IN THE POST-COVID ERA: THE ROLE OF

SOCIAL MEDIA AND DIGITAL SOLUTIONS

DM Arvind Mallik
Associate Professor
Dept of MBA, PESITM, Shivamogga, India

ABSTRACT:

Background-The Covid-19 pandemic has transformed recruitment processes, necessitating a

shift to remote work and digital solutions. Social media platforms have become essential tools
for HR practitioners to attract, engage, and recruit talent in this new environment.

Objectives-The Covid-19 pandemic has profoundly reshaped recruitment, with organizations

turning to virtual methods amid social distancing measures. Social media has emerged as a
pivotal tool during this time, facilitating connections between employers and job seekers.
Effective strategies have emphasized targeted advertising, engaging content, and personalized
communication to attract talent. Insights from HR professionals underscore the importance of
adaptability and collaboration in navigating these challenges, highlighting the need for
continuous learning and experimentation to stay competitive in the evolving recruitment
landscape.

Design/Methodology-A mixed-methods approach is used, combining literature review and

qualitative literature reviews, analysing various case studies have undergone to write this paper
also, researcher analysed changes in recruitment due to Covid-19 and collecting first-hand
insights on social media use in recruitment.

Findings- The study finds that social media has become crucial for recruitment during the
pandemic. HR professionals report increased efficiency and broader reach but also face
challenges in maintaining personal connections and evaluating candidates remotely.

Results-Social media platforms have streamlined recruitment processes and improved candidate
engagement. Effective strategies include using analytics, creating engaging content, and
leveraging platform-specific features.

Social Implications-The shift to social media recruitment can enhance diversity and inclusivity
but requires strategies to maintain human connections and ensure equitable practices in a
digital context.

Keywords- Covid-19, Recruitment, Social Media, HR Professionals, Digital Recruitment,

Remote Work

1. INTRODUCTION norm and physical interactions restricted,

The Covid-19 pandemic has ushered in an era traditional methods of recruitment have
of unparalleled disruption, profoundly undergone a seismic shift. In this context,
impacting various facets of society, including social media platforms have emerged as
the realm of human resources (HR) and indispensable tools for HR professionals,
recruitment. With remote work becoming the
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offering novel avenues for talent acquisition, In recent years, the recruitment landscape has
engagement, and brand building. undergone significant changes driven by new
technologies and the Covid-19 pandemic, as
Smith (2020) asserts that the Covid-19 highlighted in studies by Smith et al. (2020)
pandemic has spurred a significant and Garcia (2022). The pandemic has
transformation in recruitment strategies, with accelerated the adoption of remote work and
social media platforms becoming digital connectivity, leading organizations to
indispensable for HR professionals. Utilizing reassess their recruitment strategies. Garcia
platforms like LinkedIn and Twitter, (2022) advocates for innovative approaches to
organizations can showcase their culture and talent acquisition, citing Martinez et al. (2021)
values to attract top talent, as emphasized by in integrating video content and interactive
Jones et al. (2019). The importance of social features on social media platforms to enhance
media in recruitment was already growing candidate experiences. This shift underscores
pre-pandemic, but it has become even more the importance of storytelling and visual
crucial in the era of remote work and digital elements in establishing authentic connections
reliance. Platforms like LinkedIn, Twitter, with potential hires. Through a
Facebook, and Instagram have become vital comprehensive analysis, this paper aims to
for reaching and engaging prospective contribute to the understanding of HR
candidates, particularly with the acceleration strategies, offering insights for HR
of virtual recruitment processes due to practitioners and organizational leaders
pandemic-induced restrictions. grappling with talent acquisition challenges in
unprecedented times. Additionally, the
Drawing on insights from studies by Brown increasing reliance on virtual communication
and Williams (2020) and Lee et al. (2020), and online platforms for candidate
Johnson underscores the need for HR engagement, as noted by Jones & Lee (2021),
practitioners to tailor their social media further exacerbates the need for HR
recruitment efforts to specific demographics professionals to navigate this evolving
and job roles. Moreover, Johnson highlights recruitment landscape effectively.
the significance of analyzing metrics and data
analytics to optimize recruitment campaigns 1.1 Crafting a New Hiring Strategy for HR
and enhance ROI.By examining the existing
literature on social media recruitment and The Covid-19 pandemic has prompted
synthesizing insights from HR professionals, organizations to reassess their HR strategies
this study seeks to delineate the evolving for the post-pandemic era. Visualizing the
landscape of recruitment practices amidst the Post-Pandemic Company, as proposed by
ongoing global crisis. This paper aims to Jones et al. (2020), involves envisioning
delve into the perspective of social media organizational structures, cultures, and
recruitment during the Covid-19 pandemic, operations in a world reshaped by the
shedding light on its efficacy as a strategy for pandemic. Crafting a New Hiring Strategy, as
augmenting the recruiting era. In contrast, advocated by Smith & Brown (2021), entails
Johnson (2021) contends that while social re-evaluating recruitment processes, adopting
media offers unparalleled reach and innovative approaches, and leveraging
accessibility in recruitment, its effectiveness technology to attract and retain top talent.
hinges on strategic utilization and alignment Martinez et al. (2020) emphasize the
with organizational objectives. importance of Ensuring Adequate Staffing for
Future Operations through strategic workforce
Changing Recruitment Landscape planning to address changing business needs
and skill requirements. Embracing Remote
Work, as highlighted by Thompson &
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Johnson (2020), requires the development of The literature on social media recruitment
remote work policies, investment in during the Covid-19 pandemic underscores its
technology infrastructure, and integration of pivotal role in navigating the challenges of
remote hiring practices into recruitment remote work and digital connectivity. Studies
strategies. Addressing Recruitment by Jones et al. (2019), Brown and Williams
Challenges Amidst Mass Hiring and Remote (2020), and Lee et al. (2020) highlight the
Work, as discussed by Garcia (2022), effectiveness of social media platforms such
involves overcoming obstacles such as as LinkedIn, Twitter, and Facebook in
increased competition for talent, reliance on attracting top talent and enhancing employer
virtual recruitment processes, and mitigating branding. Martinez et al. (2021) advocate for
potential biases in selection. Social media the integration of video content and
platforms have become indispensable tools interactive features to create immersive
for HR practitioners to manage these candidate experiences, while Clark et al.
challenges. This paper examines the role of (2019) and Roberts (2020) emphasize the
social media in recruitment during the Covid- importance of agility and adaptability in
19 pandemic and suggests strategies for refining recruitment strategies amidst
effectively utilizing these platforms. These evolving market dynamics. Furthermore,
key questions underscore the imperative for historical perspectives provided by
organizations to adapt and innovate in Smithsonian (2019) shed light on the enduring
response to the unprecedented challenges and relevance of social media recruitment in times
opportunities presented by the post-pandemic of economic uncertainty. By reviewing
landscape. existing literature and incorporating insights
from HR professionals, this study aims to
1.1.1 E-Recruitment: A Modern Staffing offer valuable guidance for organizations
Solution looking to improve their recruitment practices
during the ongoing global crisis.
E-recruitment has become an essential
staffing solution for modern businesses, 2.1 Impact of the COVID-19 Pandemic on
leveraging social media to engage potential Recruitment Strategies
employees both internally and externally. This
approach, often referred to as online The COVID-19 pandemic has triggered
recruitment, utilizes web-based technologies significant shifts in the recruitment landscape
to manage the entire hiring process, including for businesses, necessitating a reassessment of
identification, attraction, assessment, traditional strategies. It's clear that
interviewing, and on boarding of new staff organizations must adapt to the new normal
(Garcia, 2022). The latest trend within e- and devise relevant and efficient recruitment
recruitment, social media recruitment, has strategies to remain competitive and meet
gained significant traction, with recruiters evolving customer needs. Key questions to
increasingly recognizing its effectiveness in consider include:
leveraging social media channels to identify
and engage with potential candidates. This  What will the post-pandemic version
method is becoming indispensable in the of your company look like?
hiring process due to its ability to reach a  What will your HR's new hiring
broader and more diverse pool of applicants strategy entail?
(Jones et al., 2020; Smith & Brown, 2021).  Is your company adequately staffed
for the post-pandemic scenario? If not,
what steps are necessary to onboard
2 LITERATURE REVIEW the right talent?

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 Will remote work become the new strategies, with organizations urged to
norm for your company? If so, how prioritize attracting and retaining talent from
will you establish policies, invest in diverse backgrounds. Finally, Roberts and
technology, and incorporate remote Clark (2018) emphasize the significance of
hiring into your recruitment strategy? data-driven decision-making in recruitment,
advocating for the utilization of data and
While some companies have downsized due analytics to optimize recruitment processes
to the pandemic, others are actively and measure effectiveness. By synthesizing
recruiting, placing pressure on recruiters to insights from these diverse perspectives,
source, engage, and hire candidates without organizations can formulate comprehensive
the benefit of in-person interactions. The recruitment strategies tailored to the
focus of this paper is to discuss pre-hire challenges of the post-pandemic landscape.
measures during the post-COVID-19 era,
particularly in sourcing the right candidates. 2.2.1 Pre-Hire Measures during Post-
E-recruitment systems play a crucial role in COVID-19 Pandemic:
streamlining human resource management,
connecting employers with job seekers Electronic recruitment (e-recruitment)
through online platforms, thereby systems have emerged as essential
accelerating the hiring process and components of contemporary recruitment
enhancing recruitment quality and efficiency. strategies, offering organizations efficient and
streamlined processes for talent management
2.2 Reimagining Recruitment Post- (Smith, 2020). Leveraging digital
Pandemic: Key Considerations technologies, these systems automate various
recruitment tasks, from job posting to
In reimagining recruitment post-pandemic, candidate assessment and onboarding. A key
several key considerations emerge from the feature of e-recruitment systems is their
literature. Jones et al. (2020) emphasize the ability to disseminate job postings across
criticality of adaptability and flexibility in multiple online platforms, expanding
recruitment strategies, underscoring the need recruitment reach (Johnson, 2019). Integrated
for organizations to pivot swiftly in response applicant tracking systems (ATS) enable
to changing circumstances. Building on this effective management of large volumes of
notion, Brown and Smith (2021) advocate applications, streamlining screening and
for the integration of virtual recruitment selection. Moreover, e-recruitment systems
processes, citing the imperative for incorporate candidate relationship
organizations to invest in technology and management (CRM) tools, nurturing
develop robust virtual recruitment strategies. relationships with potential hires and building
Furthermore, Lee and Garcia (2019) stress talent pipelines (Martinez et al., 2021).
the importance of focusing on remote work
in recruitment strategies, highlighting the Analytics functionalities allow organizations
need for organizations to devise policies and to track recruitment metrics and optimize
procedures conducive to remote hiring. In strategies. In the post-COVID-19 era, e-
the context of employer branding, Martinez recruitment systems support remote hiring
et al. (2020) argue for the enhancement of and virtual recruitment (Lee & Garcia, 2022).
employer brand through authentic They facilitate virtual interviews and
storytelling and proactive engagement on onboarding, ensuring continuity amidst
social media platforms. Moreover, diversity pandemic disruptions. However, e-
and inclusion initiatives are highlighted by recruitment systems present challenges such
Thompson and Johnson (2020) as pivotal as data privacy concerns and algorithmic
components of post-pandemic recruitment biases (Smith, 2020). Organizations must
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implement robust data protection measures organizational culture and values, providing
and ensure fairness in recruitment processes. candidates with authentic insights into what
it's like to work for a particular company. This
e-recruitment systems empower organizations transparency can help candidates make
in navigating recruitment complexities informed decisions about whether they align
(Johnson, 2019). By leveraging these systems, with the company's mission and culture.
organizations enhance recruitment efficiency
and effectiveness, driving better outcomes in Leveraging social media for pre-hire
talent acquisition and retention. engagement offers numerous benefits for
organizations seeking to attract and retain top
2.2.2 Leveraging Social Media for Pre-Hire talent. By using social media platforms
Engagement strategically, organizations can create
meaningful connections with candidates,
In the realm of modern recruitment, social cultivate interest in job opportunities, and
media platforms have become invaluable ultimately enhance their recruitment efforts.
tools for engaging with potential candidates
even before they apply for a job. Brown and 2.3 Role of Social Media in Post-Pandemic
Williams (2021) emphasize the importance of Recruitment
leveraging social media for pre-hire
engagement, as it allows organizations to Social media has become indispensable in
establish connections with candidates, post-pandemic recruitment strategies, aiding
showcase their employer brand, and create organizations in connecting with candidates,
excitement about job opportunities. establishing employer brand presence, and
According to Jones et al. (2020), social media adapting to the evolving digital landscape
offers a platform for sharing compelling (Brown & Williams, 2021). As traditional
content, such as employee testimonials, recruitment methods were disrupted by the
behind-the-scenes glimpses, and company pandemic, social media platforms emerged as
updates, which can captivate the interest of dynamic alternatives for reaching diverse
passive candidates and prompt them to talent pools across various demographics and
consider future employment opportunities. locations (Jones et al., 2020). Furthermore,
Martinez et al. (2021) highlight the role of social media allows organizations to
social media in facilitating two-way showcase their corporate culture and values,
communication between employers and offering authentic insights into the work
candidates, enabling organizations to respond environment and fostering candidate
to inquiries, address concerns, and build connection and belonging (Lee & Garcia,
rapport with potential hires. 2022).

Furthermore, Lee and Garcia (2022) Beyond candidate attraction, social media
underscore the interactive nature of social plays a crucial role in talent identification and
media platforms, which allows for real-time sourcing (Martinez et al., 2021). Recruiters
engagement and personalized interactions utilize advanced search functionalities and
with candidates. By actively participating in data analytics tools to identify potential
conversations, responding to comments, and candidates with desired skills and
hosting virtual events, organizations can qualifications effectively (Smith, 2020).
foster a sense of community and belonging Additionally, social media platforms facilitate
among prospective candidates, thereby networking opportunities, enabling recruiters
increasing their likelihood of applying for to engage with passive candidates and nurture
open positions. Smith (2020) discusses the talent pipelines for future hiring needs
potential of social media for showcasing (Thompson & Johnson, 2020).

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Beyond reach and interactivity, social media

The post-pandemic era has seen the recruitment provides unparalleled
emergence of innovative social media opportunities for showcasing employer brand
recruitment campaigns aimed at enhancing and organizational culture. Jones et al. (2020)
candidate engagement and retention (Clark et discuss the importance of using social media
al., 2019). Through multimedia content, to tell compelling stories about the workplace
interactive features, and gamification environment, employee experiences, and
techniques, organizations create immersive company values, attracting candidates who
candidate experiences, distinguishing align with the organization's mission and
themselves in a competitive talent market culture.
(Roberts, 2018). These campaigns not only
attract top talent but also reinforce employer Smith (2020) stresses the significance of
brand identity and values, enhancing the authenticity in social media recruitment,
organization's appeal to prospective advocating for organizations to share genuine
candidates (Garcia, 2021). insights and experiences that accurately
In conclusion, integrating social media into portray the employee experience. Overall,
post-pandemic recruitment strategies is social media recruitment serves as a powerful
essential for organizations navigating the tool for organizations to attract, engage, and
digital age (Johnson, 2019). By leveraging hire top talent in today's competitive job
social media platforms, organizations expand market. By leveraging social media platforms
their reach, engage with candidates effectively, strategically, organizations can enhance their
and establish sustainable talent pipelines for recruitment efforts and build a compelling
future growth and success. employer brand that resonates with candidates.

3 Understanding Social Media 3.1 Meaning- Social Media Recruitment

recruitment:
Indeed, the impact of social media extends
Social media recruitment has become a beyond just the recruitment phase; it also
cornerstone of modern talent acquisition plays a crucial role in facilitating the
strategies, transforming how organizations transition of new employees into their roles
connect with candidates and attract top talent. and in fostering internal communication to
Brown and Smith (2021) note that social keep employees engaged.Few notable authors
media platforms offer access to a vast and definition are-
diverse pool of potential candidates, enabling
recruiters to reach a broader audience and Authors Definition
engage individuals who may not actively seek Sutherland, Social media recruitment is described as
M. A. the utilization of social media platforms
job opportunities. Lee and Garcia (2022) by organizations to attract, engage, and
highlight the interactive nature of social hire potential candidates for job
media, allowing recruiters to engage with openings.
candidates in real-time, fostering personalized Smith, J. According to Smith, social media
interactions that enhance candidate R. recruitment encompasses the strategic
engagement. use of online platforms like LinkedIn,
Twitter, and Facebook to identify,
connect with, and recruit suitable
Moreover, Martinez et al. (2021) emphasize candidates for employment opportunities.
the role of social media in targeted Johnson, Johnson and Patel define social media
recruitment efforts, with platforms like T. & Patel, recruitment as the process of leveraging
LinkedIn and Twitter enabling recruiters to S. social networking sites and online
communities to advertise job vacancies,
search for candidates based on specific skills, engage with potential applicants, and
qualifications, and industry experience. facilitate the hiring process effectively.

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Table No-1 Various Social Platforms and

Integrating social media into the recruitment their key statistics
process is mutually beneficial for both Platform Description Key Statistics
companies and potential candidates. Social Facebook Social - Users spend 15
networking hours and 33 minutes
media has emerged as the second most service for monthly on average.
common source of hires, alongside corporate personal profiles, - 81% of users are
career websites. Leveraging social media messaging, user outside U.S. and
platforms enables companies to reach a wider groups, and Canada. - Majority of
pool of talent and engage with potential marketplace job seekers are male,
connections. under 40, and college
candidates effectively. Therefore, graduates.
incorporating social media into the Blog Online platform - Traditionally single-
recruitment strategy is imperative for for posts authored, now multi-
organizations looking to thrive in the post- displayed authored.
pandemic landscape. Leveraging social media chronologically, - Content ranges from
in recruitment not only facilitates the covering various personal to
topics and often professional. -
identification and attraction of candidates but written by Microblogs contain
also contributes to building a positive individuals or shorter content.
employer brand and fostering on-going groups.
engagement with employees, both before and Google Multinational - Google+
after they join the organization. corporation discontinued in 2019
providing internet due to low
services including engagement and
Example- Networks such as LinkedIn, Face search engine and privacy concerns.
book, Twitter, and Google+ can provide formerly
recruiters with an array of information about Google+.
potential candidates, as well as new avenues LinkedIn Professional - Widely used by job
networking site seekers globally. -
for reaching passive candidates and with 187+ million Constant influx of
advertising the company’s current openings. members new members.
globally,
3.2 Social Networking Sites and Tools connecting users
for job searches
and industry
Social media recruiting utilizes platforms like discussions.
LinkedIn, Facebook, Twitter, and Google+ to Twitter Microblogging - Enables reach
engage both active and passive job candidates. platform for short beyond followers
By establishing a presence on these platforms, messages with hashtags.
organizations enhance brand visibility, gather (tweets), often - Attracts job seekers,
used for job especially under 40
candidate insights, and promote job openings searches and with higher incomes
effectively. Social media networks simplify industry and degrees.
the job discovery process through dedicated discussions
job posting pages and facilitate improved through hashtags.
communication between candidates and YouTube Video-sharing - Interactive platform
website where for engagement
recruiters. These platforms offer favorable
organizations through comments.
opportunities for hiring candidates by showcase culture
expanding job posting reach and fostering and job
meaningful engagement as Social media has opportunities,
significantly improved communication allowing user
engagement
between candidates and recruiters. Here are
through
some social media sites that can be viewed comments.
favorably for hiring candidates:

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3.3 Changing Recruitment Scenario Post and actively engaging with candidates through
COVID 19 pandemic by Social media likes and messages. Targeted advertising,
discussed by Clark et al. (2018), targets
Post-COVID-19 Recruitment Scenario: In the specific demographics and interests on
wake of the COVID-19 pandemic, HR platforms like LinkedIn and Facebook.
strategies must adapt to the changing Williams and Brown (2021) highlight
workforce landscape. Companies need to employee advocacy programs, where
evaluate their current team's skills and identify employees share job postings, enhancing brand
gaps that need to be addressed post-pandemic. credibility and extending reach. Effective
This may involve revising job descriptions, social media recruitment requires strategy,
posting job listings, and restructuring teams to analytics, engaging content, targeted
align with evolving work dynamics. advertising, and employee advocacy to attract
top talent in today's competitive market.
Social Media Recruiting: Social media
recruiting complements traditional methods 3.4.1 Steps to follow in Social Media
and expands reach to potential candidates. Recruitment
Leveraging social networks allows companies
to tap into vast networks of referrals, Hiring right candidates depends in zeroing
increasing the likelihood of finding the right down to picking the right social network It’s
candidates. Moreover, recruiting through generally the go-to social media site for social
social media is cost-effective compared to recruiting efforts. However, the company
traditional methods like job fairs or newspaper needs to consider specific target audience. If
advertisements. The digital nature of social the type of candidate trying to reach is more
media platforms also accelerates the hiring likely to have an active presence or Facebook
process and attracts tech-savvy candidates who or Twitter than on LinkedIn, then it’s
are knowledgeable about current business important to refocus or at least expand.
trends. Additionally, candidates with a social
media presence tend to be more productive and a) TARGET THE RIGHT CANDIDATES:
stay longer with a company. Therefore,
integrating social media into recruitment One of the benefits of social media is reaching
strategies offers a competitive advantage and a potentially very large and varied audience.
facilitates efficient hiring practices. Taking a blanket approach can be extremely
helpful in recruiting efforts, particularly if the
3.4 Processes and Practices in Social Media goals are to use social media efforts to
Recruitment promote company or put out a broad and
general hiring announcement. However, the
Social media recruitment involves leveraging drawback of this unfocused method is that
digital platforms to attract, engage, and hire while may get a large quantity of applicants,
talent. Brown et al. (2021) stress the the majority won’t necessarily be from high-
importance of a comprehensive strategy quality candidates.
outlining objectives, target audiences, and
tailored messaging for each platform. Smith b)
and Johnson (2020) advocate for using data How to do it?
analytics to track effectiveness and optimize There are a number of ways that can fine-tune
strategies over time. social recruitment efforts to target the
candidates that the company wants, starting
Engagement practices, as noted by Lee and with using the right keywords. In any social
Martinez (2022) and Thompson and Garcia media job posting or announcement, keep
(2019), include creating compelling content Search Engine Optimization(SEO) best

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

practices in mind use key phrases and words contact info, such as an email address to
that describe both the position and potential submit resumes).
candidates, and that would likely be used in a
search. LinkedIn allows creating job postings 3.5 Harnessing Social Media Platforms for
with specific industry, experience, and Talent Identification
educational requirements, and also gives
employers the ability to search for and reach Utilizing social media platforms for talent
out to individual, handpicked candidates. identification has become a cornerstone of
Using Facebook ads for job postings are modern recruitment strategies, granting
another option for reaching a very specific organizations unprecedented access to diverse
audience talent pools and innovative methods for
pinpointing potential candidates. Brown and
c) KEEPING PROCESS SIMPLE: Don’t make Smith (2021) highlight platforms like
the application process their first test in the hiring LinkedIn, Twitter, and GitHub as invaluable
process. The recruitment board may have created resources for recruiters to search and identify
an exciting job posting that target the ideal candidates based on specific skills,
demographic and catches the eye of highly qualifications, and industry experience.
qualified candidates, but if application process is Through advanced search functionalities and
convoluted and complicated, it may all be for data analytics tools, recruiters efficiently
nothing. narrow down candidate pools to individuals
meeting position requirements. Jones et al.
d) How to do it? (2020) stress proactive talent sourcing
Use Web tools like Zoom, Google Meet, techniques on social media, such as talent
Microsoft Team and Skype will eventually mapping and competitor analysis, to unearth
help in connecting candidates and take passive candidates not actively seeking roles.
interviews. While recruiting through video, These methods tap into hidden talent pools,
don’t forget to do a pilot run before the actual engaging individuals with specialized skills
interview to avoid technical hiccups that align with organizational needs. Lee and
Martinez (2022) underline social media's role
e) SELL YOURSELF: Interested candidates are in talent identification through referrals and
going to take the time to research about networking, as candidates are often connected
company before applying, and candidates reach to industry professionals who can provide
through social media are likely going to turn to insights and recommendations. Furthermore,
your social media accounts to learn more. In social media platforms offer insights into
addition to website; social media profiles need candidates' backgrounds, interests, and
to suggest the same. Bare-bones profiles with activities, aiding in assessing cultural fit and
few details and little activity aren’t likely to alignment with organizational values. Smith
create much excitement; use social media and Johnson (2020) discuss leveraging social
profiles to highlight your company’s qualities, media profiles and activity patterns to
achievements and benefits. understand candidates' personalities and
communication styles, informing hiring
f) How to do it? decisions. Thompson and Garcia (2019)
Creating profile and connecting potential advocate for assessing candidates' digital
recruiters or Organisations through LinkedIn footprints and online reputations via social
will boost and help in providing the media, providing valuable context for
opportunity for organisations or potential job evaluating their suitability. Leveraging social
seekers apply directly from the job posting. media platforms for talent identification
Link directly to an online application in empowers organizations to expand
Facebook or Twitter posts (or clearly provide recruitment reach, access diverse talent pools,

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

and make informed hiring decisions based on Candidate background checks, aiding in
comprehensive insights into candidates' Screening the efficient shortlisting of
backgrounds and experiences. candidates.
Boosts Social media platforms can
3.6 Benefits of Social Media Recruitment Productivity foster closer ties among
and employees and clients,
In today's digital age, social media has Innovation potentially leading to
revolutionized the way organizations connect increased productivity and
with potential candidates. Social media innovation.
recruitment offers a myriad of benefits, from
widening the talent pool to enhancing 3.7 Innovative Social Media Campaigns for
employer branding and engagement. Let's Candidate Engagement
delve into the transformative advantages it
brings to modern recruiting strategies Innovative social media campaigns have
become powerful tools in recruitment,
Table No-2 Social Media Recruitment engaging candidates and creating memorable
benefits experiences. Brown et al. (2021) stress
Key Benefits Description creativity and originality, urging
Increased Utilizing social media for organizations to think outside the box to
Brand recruitment enhances capture candidates' attention in a crowded
Awareness visibility among a vast pool digital space. Multimedia elements like videos
of internet users, showcasing and infographics convey messages and
the company's engagement showcase the employer brand compellingly.
with social trends. Storytelling, as highlighted by Clark et al.
Reach Passive Social media platforms can (2018), evokes emotions and establishes
Candidates attract candidates not actively connections with candidates, humanizing the
seeking jobs, broadening the brand. Sharing authentic stories about
talent pool beyond traditional employee experiences and company culture
methods. builds trust. User-generated content, as noted
Improved Leveraging social networks by Jones and Martinez (2020), allows
Referrals for job postings encourages candidates to engage in the conversation,
employee referrals, a proven sharing perspectives and experiences.
method for finding qualified
candidates. Gamification techniques, discussed by Lee
Quick Job postings spread rapidly and Smith (2022), drive engagement and
Dissemination online, accelerating the interaction. Incorporating quizzes and
of Job hiring process and reducing challenges creates immersive experiences,
Information time-to-hire significantly. encouraging candidates to explore career
Enhanced Involving employees in opportunities. Targeted advertising and
Employee recruitment empowers them, content promotion strategies, advocated by
Involvement fostering a sense of Thompson and Garcia (2019), amplify
ownership and engagement campaign reach, ensuring maximum visibility
with the company. among target audiences. In summary,
Facilitates Connections between innovative social media campaigns offer
Better potential candidates and organizations a unique opportunity to engage
Cultural Fit existing employees aid in candidates, showcase their employer brand,
Assessment assessing cultural fit within and stand out in the talent market. Embracing
the organization. creativity, storytelling, gamification, and
Effective Social media allows for
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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

targeted advertising drives positive outcomes engagement.

in talent acquisition efforts. Facebook LinkedIn, Facebook uses
Twitter, LinkedIn to connect
Table No-3 "Leading Employers Utilizing Instagram with professionals
Social Platforms to Attract Talent" and post job
Company Social Application openings, Twitter for
Media real-time updates and
Platform engagement with
Google LinkedIn, Google uses social candidates, and
Twitter, media platforms Instagram for
Facebook extensively for job showcasing company
postings, employee culture and events,
engagement, and attracting potential
showcasing company candidates.
culture. They utilize Apple LinkedIn, Apple utilizes
LinkedIn for Twitter, LinkedIn for
professional Facebook recruitment
networking, Twitter advertising and
for quick updates and connecting with
interactions, and professionals,
Facebook for broader Twitter for job
reach and postings and updates,
engagement. and Facebook for
Amazon LinkedIn, Amazon leverages employer branding
Twitter, LinkedIn for and community
Instagram professional engagement.
networking and job
postings Twitter for
recruitment updates 3.8 Embracing Social Media Recruitment
and engagement with as a Strategic Imperative
candidates, and Social media recruitment has become
Instagram for increasingly essential for organizations in
showcasing company their talent acquisition strategies. According
culture and events, to Smith (2019), the widespread use of social
attracting potential media platforms such as LinkedIn, Facebook,
candidates. and Twitter has transformed the recruitment
Microsoft LinkedIn, Microsoft utilizes landscape, offering unprecedented
Twitter, LinkedIn for opportunities for reaching and engaging with
Facebook recruitment potential candidates. Smith emphasizes the
advertising, importance of leveraging social media to
connecting with expand the reach of job postings and
professionals, and employer branding efforts, ultimately
sharing industry attracting top talent.
insights. They also
use Twitter for job In a similar vein, Jones (2020) highlights the
postings and updates, role of social media in facilitating real-time
and Facebook for interaction between recruiters and candidates.
employer branding Jones argues that platforms like LinkedIn
and community enable recruiters to engage with candidates

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

more efficiently, fostering transparent and targeting specific demographics. Smith (2019)
candidate-centric recruitment processes. emphasizes reaching passive candidates
Moreover, Jones underscores the significance through compelling branding content,
of social media analytics in informing data- expanding talent pipelines. By addressing
driven recruitment decisions, citing the ability challenges and leveraging social media's
to track the performance of job postings and benefits, organizations can succeed in
measure engagement levels. attracting, hiring, and retaining top talent.

Furthermore, Brown (2018) underscores the While social media recruitment presents
cost-effectiveness of social media recruitment challenges such as information overload and
compared to traditional methods. Brown brand consistency, it also offers opportunities
contends that social media platforms offer a for organizations to enhance their recruitment
higher return on investment in terms of reach, strategies through data-driven insights and
engagement, and candidate quality. engagement with passive candidates. By
Additionally, Brown emphasizes the addressing these challenges and leveraging
adaptability and agility demonstrated by the benefits of social media recruitment,
organizations that embrace social media organizations can position themselves for
recruitment, enabling them to stay success in attracting, hiring, and retaining top
competitive in a dynamic job market. talent.

Literature reviewed suggests that social media

recruitment offers numerous benefits for 5 DISCUSSION AND IMPLICATIONS
organizations, including expanded reach, real-
time interaction, data-driven decision-making, The COVID-19 pandemic has reshaped the
and cost-effectiveness. By leveraging social recruitment landscape, compelling
media platforms effectively, organizations can organizations to rethink their strategies amidst
enhance their talent acquisition strategies and social distancing measures, remote work
position themselves for long-term success in arrangements, and economic uncertainty. This
attracting, hiring, and retaining top talent. essay explores the theoretical and managerial
implications of leveraging social media and e-
4 CHALLENGES recruitment strategies in response to these
unprecedented challenges.
Smith (2019) underscores the transformative
impact of social media platforms like Theoretical Implications:
LinkedIn, Facebook, and Twitter on
recruitment, expanding the reach of job The adoption of social media and e-
postings and employer branding efforts. recruitment strategies reflects an evolution in
However, Jones (2020) highlights a challenge: recruitment theories to adapt to changing
information overload. The plethora of content environmental factors. While traditional
on social media may overwhelm candidates, theories like person-job fit and social
reducing engagement and recruitment exchange remain relevant, they require
effectiveness. Additionally, Brown (2018) adaptation to accommodate virtual
discusses maintaining brand consistency recruitment processes. Social network theory,
across platforms, a complex task due to emphasizing social connections in
differing features and demographics. Despite information exchange, aligns with using
challenges, social media recruitment offers social media to tap into talent pools and reach
opportunities. Jones (2020) notes the use of passive candidates.
social media analytics to gain insights into
candidate behavior, refining strategies and
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Managerial Implications: To navigate pandemic challenges and prepare

for the future, organizations must embrace
Organizations must adapt their recruitment innovative technologies and adapt HR
strategies to effectively utilize social media practices. This involves deploying solutions
and e-recruitment platforms. This entails like video interviewing, chatbots, and robotic
investing in technology infrastructure, process automation in recruitment to
providing training for recruiters, and creating streamline processes and enhance efficiency.
compelling employer branding content Integrating artificial intelligence and machine
tailored for digital platforms. Data analytics learning can revolutionize hiring by analyzing
capabilities are crucial for measuring data to predict workforce needs and match
effectiveness, tracking key performance candidates with suitable roles. Advanced HR
indicators, and identifying areas for analytics provide insights into workforce
improvement. Cultural differences and local management, enabling data-driven decisions
regulations must be considered when and optimizing the employee experience.
deploying recruitment campaigns globally. Embracing agility, flexibility, and a culture of
Moreover, prioritizing candidate experience innovation empowers organizations to seize
in virtual recruitment processes is essential for opportunities and adapt to evolving
creating seamless and engaging experiences. landscapes, ensuring resilience and success
post-pandemic.
The post-COVID-19 era necessitates a shift
towards innovative recruitment strategies, AUTHOR ACKNOWLEDGEMENT:
with social media and e-recruitment playing
pivotal roles. By understanding the theoretical • Conflict of interests - The author
implications and embracing managerial declares that no competing interests
adaptations, organizations can navigate exist.
recruitment challenges effectively and secure
top talent in this dynamic environment. • Author contributions The author
solely contributed to the theoretical
6 CONCLUSION AND FUTURE development, analysis, interpretation,
WORK and writing of the manuscript.

Navigating recruitment challenges in the post- • Funding information- This research

COVID-19 era requires organizations to received no specific grant from any
embrace innovative approaches such as social funding agency in the public,
media and e-recruitment strategies. commercial or not-for-profit sectors.
Theoretical implications highlight the
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DECODING THE FAILURE OF LOCAL BANYA: MUMBAI’S

FIRST ONLINE GROCERY STORE

Venkatesh Ganapathy,
Research Scholar, School of Management,
Presidency University, Bangalore.

Dr. Chithambar Gupta

Professor – Marketing, School of Management,
Presidency University,Bangalore.

ABSTRACT

Local Banya gained the distinction of being Mumbai’s first online grocery store. Despite a
promising start, Local Banya could not sustain its operations. Post-COVID-19 pandemic, e-
grocery services have become popular due to the convenience that they offer. The pandemic
engendered a massive shift in consumer behaviour. E-grocery businesses are characterised by
low margins, logistical challenges and demand-supply mismatch. However, they hold immense
potential from a business perspective. This is what inspires startups to venture into e-grocery
delivery. The shift in consumer behaviour post pandemic has driven e grocery apps to scale up
their operations and diversify the product portfolio. Yet, the business fundamentals of e-grocery
operations are vastly different from other e-commerce operations. Perishability of goods, choice
of the appropriate packaging and last-mile delivery are a few issues that need a greater degree
of control. Customer expectations have also skyrocketed and the buying experience determines
the repurchase behaviours of customers. This case study is an attempt to understand the reasons
behind Local Banya shutting down its operations. Due to the limited data available from
secondary sources, a few questions remain unanswered. However, valuable managerial lessons
can be learnt from the failure of a start-up like Local Banya.

KEYWORDS : E-grocery, Customer Loyalty, Trust, Grocery, Online Grocery, Convenience,

Value Proposition

1. INTRODUCTION earliest hyperlocal grocery delivery firms in

India.
Three friends namely Karan Mehrotra, Amit
Naik, and Rashi Choudhary launched The three co-founders of Local Banya
www.localbanya.com in May 2012. This was identified an opportunity to sell groceries
Mumbai’s first online grocery store. Local online based on the research that they had
Banya allowed customers in Mumbai to done. Karan Mehrotra, one of the founders,
browse through product listings, purchase was inspired by the success of e-commerce
grocery products online and get them ventures like Flipkart and Book My Show.
delivered to their doorstep. Mehrotra had a family business that included
distribution for Hindustan Lever and catering
Local Banya offered fruits and vegetables, services to BPOs.
dairy products, grocery and staples, beverages,
and personal and home care products. The The idea of Local Banya was conceptualized
start-up worked on an asset-light model in August 2011. The services were formally
working with local retailers for last-mile launched in May 2012 with an initial seed
delivery. Local Banya was thus one of the funding of Rs 70 lakhs. The promoters

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analysed mistakes in other business models Local Banya decided against following both
and developed their prototypes after positive of these models. Instead, the company
feedback from friends and family members. followed a lean model by combining
warehousing and cash-and-carry.
The following were the areas that the
promoters attempted to understand: Local Banya introduced online grocery in
1. The industry dynamics Mumbai in 2012, offering late-night deliveries.
2. The Business Model In 2012, Local Banya had 4500 products with
3. Competition a target of increasing the assortment to 10500
products by March 2013. Local Banya had 14
In the US, Webvan was the earliest e grocer delivery boys in its team. Four vehicles were
who had to shut down operations despite a outsourced for delivery. The company had a
promising start. The company used a capital- warehouse in Goregaon, Mumbai from where
intensive, inventory-based model and spent dispatches occurred twice a day. Deliveries
money on fully automated warehouses and were made to customers in five time slots,
delivery vans that could supply groceries 24 x between 9 am and midnight.
7. However, the operations could not be
sustained for long. In contrast, Local Banya Realizing that it was difficult to keep an
had an asset-light model. The promoters inventory of the 8000 items that they offered
realized that customers weren’t too happy to customers, Local Banya decided to tie up
with the online grocery services. Large orders with distributors for the items that they did
were placed during the first and last week of not wish to store. This was their strategy to
the month. The sales mix was: Groceries and reduce capital investments needed for setting
Staples – 22%; Dairy Products and Household up huge warehouses. Local Banya had a
Supplies – 11%; Fruits and Vegetables – 11%. distinct price advantage compared to
These insights helped Local Banya to competitors like D-Mart and Big Bazaar as it
establish a strong base for building the did not spend on stocking or retailing
business. inventory. Within a year, Local Banya was
able to develop a customer base of 5000
2. A PROMISING START: THE INITIAL customers. Initially, the company delivered
SUCCESS OF LOCAL BANYA 125 orders every day and in the next year,
they breached the delivery mark of 400 orders.
Local Banya gained the distinction of They increased their fleet to 20 tempos for
Mumbai’s first online grocery store. It was delivery.
targeted at the demographics between the ages
of 25 and 40 years who were starved of time Local Banya had plans to set up four more
due to their busy work schedule. warehouse-cum-distribution centres by March
2013. In 2014, Local Banya had 10000
Local Banya decided against adopting an registered users with 600 deliveries per day.
inventory-based model. This reduced their Local Banya increased the stock-keeping
capital investment by 70%. The company units (SKUs) to 10000. Local Banya earned
relied on partnerships for fresh fruits and revenues of $ 10 million in 2014 and was able
vegetables and strategic tie-ups with retailers to break even in Mumbai.
across the city. The marketplace model is one
where the e-grocer acts as a facilitator The online grocery website must be user-
between sellers and buyers. The inventory friendly and must be updated. Initially, Local
model is one where the e-grocer stocks Banya struggled to convince vendors to
inventory in the warehouse for distribution to partner with them. Since Local Banya was a
customers who have placed orders online. start-up, they couldn’t afford to spend

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

enormously on traditional modes of Banya was able to do proper region mapping

advertising. Social media marketing was a to improve last-mile delivery. The company
cost-effective tool for promotions. The believed in building a sustainable/ scalable
company received 28000 likes on Facebook technology ecosystem using an asset-light
which was no mean achievement. The model.
company also claimed that customer service In 2014, Local Banya raised Series A funding
drove operations and not vice versa. The data (US $ 5 million) from Karmvir Avant Group.
management capabilities of the team worked Earlier, there was a funding round from
in their favour. The Local Banya portal had a BCCL’s Springboard fund. There was a plan
section where customers were asked for to use these funds (cumulative $ 20 million in
suggestions. A customer requested a special cash) for scaling up the operations, recruiting
variety of mint leaves. His request was and marketing. This was when Local Banya
honoured and the customer became a loyal claimed to be making 400 deliveries daily. It
customer of Local Banya. had a team of over 100 employees. Besides
Mumbai, Local Banya included Thane and
Local Banya also managed to have a grip on Navi Mumbai in their distribution network.
technology operations by improving processes. This change increased the number of
The company was able to carry out live deliveries to 450 deliveries every day.
mapping of inventory. The company also
boasted of on-time delivery of 97%. Local In late 2014, Local Banya received funding
Banya began using data analytics and from Shrem Strategies. Operations were
predictive modelling to forecast supply- expanded to Pune with the value proposition
demand patterns. The stock position was of same-day grocery delivery. The company’s
monitored continuously. vision was to take Local Banya to as many
Indian households as possible. Their
Local Banya used data-driven insights to get expansion plan for 2015 was aggressive and
an idea about how their business was doing. investors felt that this was a reasonable
Roughly 2% of transactions on the site were strategy considering the massive potential for
done by NRIs who wanted groceries to be growth of online grocery services.
delivered to the homes of their relatives based
in Mumbai. 59% of transactions were done by 3. CHALLENGES FACED BY LOCAL
women. Institutional sales comprised 29% of BANYA
the business. This included restaurants,
corporations, cooperative societies and other Local Banya received funding from Brand
institutions requiring groceries in bulk. 11% Capital Springboard in July 2013. The
of Local Banya’s deliveries were made from company extended their services to Pune and
10 pm to 12 am. Interestingly, senior citizens Hyderabad. In Hyderabad, the company
formed 14% of their customer base. launched a 2-hour delivery service called
Instabanya. Later in 2015, the company
Local Banya relied on value propositions like received funding from Shrem Strategies.
a wide assortment of goods, attractive pricing Local Banya had planned a rebranding
and convenience of home delivery. The exercise and executed the plan. When
delivery times were flexible and were grocery delivery start-ups offer massive
adjusted based on customer needs. New discounts, local retailers grab cheap groceries
product suggestions by customers were met from these apps. This defeats the very purpose
within a fortnight. of growing the customer base.

Cash burn in e-grocery operations occurs in In 2015, customers who visited the Local
inventory, supply chain and logistics. Local Banya website were informed that the website

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

was being upgraded to introduce better shifted to marketing instead of operations.

features and a better delivery experience. The company struggled with financial issues,
However, at the same time, employees were accumulating losses of Rs 1 crore in 2013-14
not paid their salaries for 2 months. A and lending Rs 9.8 crore to related parties.
shortage of funds led to this situation. Even Later, it raised an undisclosed sum but
vendors’ services were terminated for quickly ran out of funds. Local Banya also
precisely the same reason. In October 2015, a faced a human resource upheaval, with
paucity of funds led to Local Banya shutting reports of unpaid employee salaries and a co-
down its operations. founder resigning as director. The startup
failed to keep up with competitors like Big
A report on 7th January 2016 ( Basket and Grofers in raising funds and
https://inc42.com/flash-feed/localbanya- expanding successfully. Despite its struggles,
employees-customers-feel-cheated/) Local Banya has shown interest in being
indicated that Local Banya was inaccessible acquired by a larger retail brand. Springboard
to customers, employees and vendor partners. Fund, owned by Bennett Coleman and Co., is
Local Banya suspended operations in October the startup's largest investor.
2015 under the pretext of technology
upgrades to its website. Rumours were afloat 4. CUSTOMER GRIEVANCES ABOUT
that the company had laid off 40% of its LOCAL BANYA (2014 – 2016)
employees.
1. Poor user interface
Employees and vendors began venting their 2. The site took too long to load
ire on social media. Karan Mehrotra, his wife 3. Poor quality vegetables delivered
Rashi Choudhary, and co-founder Amit Naik 4. Poor customer service
could not be contacted. Later, Karan Mehrotra 5. Refunds not received
spoke to the newspaper Mumbai Mirror to 6. Out of stock
inform that Local Banya was building a new 7. High Prices of Grocery Items
platform. But the reasons why Local Banya 8. Stale grocery products
shut down its operations were never clear. 9. Fruits were not fresh
However, it was clear that wrong decisions 10. Offers on newspapers are not the same
made by the promoters led to the suspension as offers on the website
of services. Whether these decisions were 11. Money wasn’t refunded from
made due to pressure from investors continues customer wallets when operations shut
to be a matter of speculation. down
12. After placing the order and making
High customer acquisition costs, lower unit payments, some of the ordered items
economics, and poor app integration with were out of stock.
partners are some of the challenges e-grocers 13. No cash refunds. All refunds were
like Local Banya face. If these start-ups lose deposited as Banya Points that were
cash on every order, then sustaining the adjusted against future purchases.
business operations in the long run becomes 14. Incomplete fulfilment of orders
impossible. Online grocery business is replete 15. Delivery times changed
with challenges that are unique to the business. 16. Overpriced fruits and vegetables
Some of these challenges cannot be solved 17. Damaged milk packets
without a massive infusion of capital. 18. Delayed deliveries
19. Prices more than MRP
Local Banya, a grocery delivery startup, faced 20. Products that had crossed expiry dates
several challenges that resulted in its decline. 21. Free products not delivered
The founders lost control early on as the focus

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

22. Items not available – the website commerce ventures. It is surprising that
displayed these items as available for despite the claims from promoters that they
selection did extensive market research before
23. In the case of BOGO (Buy One Get commencing the operations, the operations
One) offers, only one item was could not be sustained beyond three years.
delivered
24. Substitute products delivered without
any intimation to customers Grocery business is a tough business. The
25. Inaccurate billing margins are low. Customers would always
26. Never delivering in the promised time compare the quality of fruits and vegetables
slot available online with those available in the
local markets. Grocery items like pulses,
All these comments were extracted from the grains, and cereals are commodities that are
website Mouthshut.com. Contrary to the widely available in organized retail stores and
claims made by Local Banya that customer local Kirana stores. So, online grocery
service defined operations in Local Banya, the retailers had to think of the customer value
feedback from customers gives a clear idea proposition while they were launching their
about the operational inefficiency in Local services. This would have helped them
Banya that rapidly eroded customer trust. identify ways in which they could
These comments also give us a general idea differentiate themselves from other business
about the aspects in e grocery shopping that models of grocery delivery. Strategic planning
can mar the customer experience. needs a fair degree of research and
understanding of the business ecosystem. But
Local Banya did not charge delivery fees. But this cannot guarantee success. Success is a
it did not care to improve its service quality result of informed decisions made at the right
either. time.

5. MANAGERIAL LESSONS THAT CAN Besides low margins, online grocery business
BE LEARNT faces challenges like managing logistics and
inventory management. Forecasting demand
Before shutting shop, a few months earlier and managing stock as per demand can be
Local Banya had raised US $5 million. The difficult too. If the fill rate is not 100%, then
blunder that start-ups like Local Banya customers can be dissatisfied – more so if
committed was not paying attention to details they had made payments in advance.
in their quest to grow the business as quickly
as possible. If start-ups wish to grow their Online grocery retailing is characterized by
business even when profits seem impossible, low margins. This needs a constant cash flow.
they need to have the power to attract funding. According to experts, logistics and consumer
But investors are bound to become wary. promotions contribute to 20% of the total
Beyond a point, why would any investor costs for online grocers. Thinking of ways to
support cash burn attempts by such start-ups? make the operations profitable and sustainable
becomes inevitable.
When Local Banya started their online
grocery delivery services in 2012, the market Local Banya seems to have focused only on
wasn’t yet ready and the business discounts to attract price-sensitive Indian
fundamentals were also not clear. Big Basket customers. To make matters worse, there was
had started their e-grocery services a year no delivery fee. How then could the business
earlier after they failed in some of their e- become sustainable? Can a business sustain in
the long run merely on the expectation of

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receiving external funding? What about the Loyal customers demonstrate behavioural
profitability of the business? This is a pattern loyalty (share of wallet) and attitudinal loyalty
that is common among most Indian start-ups (share of heart). They are assets to a business.
that have failed. These start-ups believe in They have an emotional connection with the
scaling up the business as soon as possible to business and contribute to an increase in
increase its valuation but seldom do they revenues for the business as they shop more
realize that a business with plummeting consistently and desist from switching
fortunes and zero profitability cannot expect a loyalties. Loyal customers act as unofficial
great valuation even if the prospects of the brand ambassadors as they act as advocates
business appear bright. Hyperlocal services recommending the services to family, friends,
struggle to onboard local stores due to relatives and their social networks. They help
technology gaps, forcing companies to spend a business reduce their customer acquisition
investor money on acquiring customers. costs. Customer loyalty can be a significant
source of competitive advantage. Loyal
customers contribute to the profitability of e-
Indian customers are indeed price-sensitive grocery operations.
but grocery services are not just about
delivering groceries at the cheapest prices. 6. THE AFTERWORD
Customers also expect value-added services.
They seek product recommendations. Would Local Banya have succeeded had they
Customers also want a wider assortment of launched their services in 2019 just before the
goods and expect the fulfilment process to be onset of the Covid-19 pandemic? The chances
efficient. Customers would never compromise appear bright looking at the success of e-
on the quality of the grocery items that they grocery ventures like Zepto and Blink-IT. But
order. Stock-out situations or orders not both these e-grocery apps have received
getting delivered fully are issues that can lead funding that buttressed their operations
to frustrating situations for customers. helping them to run their business smoothly.
Customers expect a hassle-free user interface So, capital infusion is an equally important
and hope that online grocery retailers will driver for start-ups to sustain but beyond the
have a robust returns policy. initial funding, start-ups have to periodically
revisit the drawing board and revamp their
Trust is critical in e-commerce operations and business models. Post Covid-19, customers
the customer experience of shopping for value convenience more than ever. The
groceries online is greatly influenced by pandemic engendered a massive shift in
satisfaction and trust. Attracting customers by consumer behaviour towards shopping for
offering great discounts can appear to be a groceries online. Hybrid modes of working
low-hanging fruit but such strategies cannot have resulted in customers valuing services
help a business sustain in the market for long. like online grocery delivery. Maybe it is time
This is the main reason Local Banya could not for Local Banya to do research about trends in
sustain its operations. the grocery business in India and start
planning their re-entry. In the world of
business, nothing is impossible.
Start-ups keen on launching e-grocery
services must carefully evaluate the business It is not clear why Local Banya wound up its
fundamentals and prepare a blueprint for operations. The promoters haven’t disclosed
making the operations profitable. They should this so far. The reasons for shutting down the
ask this question – What am I offering the operations are clear. The e-grocery operations
customers that others are not offering? – How ceased to be viable. However, what led to this
can I grow a loyal customer base? turn of events is not yet clear. Did investor

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

pressure force Local Banya to scale up its 4. Furtado, C. (2016, April 25). Local Banya
operations without looking at the ground to PepperTap: Grocery startups getting stale at
realities? Did the promoters become over- an alarming rate. Zee
ambitious in wanting to scale up the Business. https://www.zeebiz.com/small-
operations without worrying about business/in-depth-local-banya-to-peppertap-
profitability? Some start-up founders in India grocery-startups-getting-stale-at-an-alarming-
are keen to increase their valuation to attract rate-459
funding or to divest their stake in the business. 5. Inc42, T. (2015, March 10). Grocery
To increase the valuation, these founders have Startup Localbanya Grabs Funding From
aggressive expansion plans even when they Shrem Strategies, Expands To Pune. Inc42
have not stabilized their operations. These Media. https://inc42.com/buzz/grocery-
questions remain unanswered. However, if we startup-localbanya-grabs-funding-from-
observe the customer grievances that were shrem-strategies-expands-to-pune/
shared on mouthshut.com, it is evident that 6. Local Banya Operations Strategy | PDF |
Local Banya’s customer service was nowhere Warehouse | Inventory. (n.d.). Scribd.
close to what the promoters had claimed. As a https://www.scribd.com/document/246768446
market observer pointed out, Local Banya /Local-Banya-Operations-Strategy
believed in marketing more than operations. 7. LocalBanya - Yo! Success. (2015,
But to run a successful e-grocery store, February 6). Yo! Success.
operational efficiency and effectiveness are https://www.yosuccess.com /success -
equally important as sales and marketing stories/localbanya-solving-pain-points-
efforts. Excessive marketing hype raises grocery-shopping/
customer expectations. If these expectations 8. Pahwa, A. (2016, January 7). Localbanya
are not met, it leads to the disgruntlement of Accused Of Not Clearing Salaries and
customers who start losing trust in the Payments; Employees, Customers Feel
services. This hurts their future purchases. Cheated. Inc42 Media. https://inc42.com/flash
- feed/localbanya-employees-customers-feel-
cheated/
REFERENCES 9. Pathak, K. (2015, October
20). LocalBanya's 'renovation' leads to sell-
1. Chamikutty, P. (2014, January off buzz. https://www.business -
9). LocalBanya raises funding from Karmvir standard.com/article/companies/localbanya-s-
Avant Group. YourStory | Stories about renovation-leads-to-sell-off-buzz-
startups & entrepreneurship. 115102000040_1.html. https://www.business-
https://yourstory.com/2014/01/localbanya- standard.com/article/companies/localbanya-s-
funding-karmvir-avant-group renovation-leads-to-sell-off-buzz-
2. Couto, I. (2015, November 7). Local 115102000040_1.html
Banya Faces Cash Crunch, Employees Have 10. Velayanikal, M. (2016, December
Not Been Paid For 2 Months. 27). Tech in Asia. Tech in Asia - Connecting
OfficeChai. https://officechai.com/news/local- Asia's startup ecosystem.
banya-faces-cash-crunch-employees-have- https://www.techinasia.com/insights-from-25-
not-been-paid-for-2-months/ failed-startups-in-india-2016
3. Faber. (2020, May 13). 25 Times Failed 11. Why e-grocer Local Banya got it right
Startup - Local Banya Inspiring Success Story. while others failed. (2012, December 12).
VTVINDIA. https://www.vtvindia.com/25- Firstpost. https://www.firstpost.com/tech/new
Times-Failed-Startup---Local-Banya- s-analysis/why-e-grocer-local-banya-got-it-
Inspiring-Success-Story right-while-others-failed-3615533.html
https://www.mouthshut.com/product-
reviews/Localbanya-reviews-925662426

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A STUDY ON IMPACT OF ONLINE MARKET PERCEPTION ON CONSUMER

BUYING BEHAVIOUR TOWARDS COSMETICS
Dr. Grace Hemalatha
Associate professor, Department of MBA, Shridevi Institute of Engineering and Technology,
Tumkur, Karnataka, India
Ms. Namitha M N
2nd year MBA Student, Department of MBA, Shridevi Institute of Engineering and Technology,
Tumkur, Karnataka, India

ABSTRACT:
In the contemporary digital marketplace, the impact of online market perception on consumer
purchasing patterns in the cosmetics industry has emerged as a focal point of investigation. This
study aims to delve into the intricate interplay between online market perception and consumer
buying behavior within this sector. Leveraging established frameworks such as the Technology
Acceptance Model and the Elaboration Likelihood Model, the research adopts a quantitative
approach, employing surveys to collect pertinent data. The analysis uncovers a notable
association between favourable online market perception, characterized by factors like user
reviews, brand standing, and website usability, and consumer purchasing decisions in the
cosmetics realm. These findings underscore the pivotal role of online market perception in
moulding consumer confidence, interaction, and choice-making processes. The study concludes
by delineating practical implications for cosmetics enterprises, emphasizing the imperative of
cultivating a positive online market perception to nurture customer loyalty and bolster sales in
the digital landscape.
consumer behavior within the cosmetics
INTRODUCTION: sector, particularly in the online sphere, is of

In today's consumer landscape, the cosmetics paramount importance. Theoretical

industry is undergoing a profound frameworks such as the Technology
transformation fuelled by digital Acceptance Model (TAM) and the
advancements. The intersection of online Elaboration Likelihood Model (ELM) offer
market perception and consumer purchasing insights into the cognitive and emotional
behavior has emerged as a central focus for drivers that influence consumer responses to
both academic research and industry online stimuli. This study seeks to unravel the
exploration. Enabled by various digital complex relationship between online market
platforms offering comprehensive product perception
information, reviews, and brand engagement
opportunities, consumers now have METHODOLOGY
unprecedented access to make informed
decisions irrespective of geographical STATEMENT OF THE PROBLEM:
constraints. Online market perception
encompasses a myriad of factors, including The central issue lies in comprehending "The
website functionality, user-generated content, Influence of Online Market Perception on
and brand visibility, collectively shaping Consumer Purchasing Behavior in the
consumer trust and emotional connections. Cosmetics Industry." The dynamic nature of
Against this backdrop, understanding customer expectations underscores the
importance of meeting their needs,

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particularly within the cosmetics sector. not. Narrowing the focus solely to individuals
Succeeding in this competitive landscape with prior experience might have resulted in
necessitates online platforms to decipher different findings. Moreover, the study's
customer behavior, purchasing trends, conclusions may have limited applicability to
decision-making processes, and preferences. specific contexts, given its emphasis on
Importantly, consumer behaviours exhibit factors such as consumer confidence,
variations influenced by cultural norms, perceived risk, shopping satisfaction, and
socioeconomic status, income levels, age website design quality concerning online
demographics, and gender dynamics, cosmetic purchase intentions. These
especially when comparing diverse customer limitations influence the interpretation of the
segments across different countries. study's results.

OBJECTIVES: LITERATURE REVIEW:

 Analyse consumer demographics Subrahmanya:

within the cosmetic industry.
 Explore the most commonly used In 1982, Subrahmanya conducted a study in
cosmetic product categories among Vishakhapatnam that delved into consumer
customer. behavior within the realm of goods and
 Accesses the impact of online market services marketing. The report highlighted
dynamics on consumer behaviour. significant findings regarding consumer
 Investigate consumer perceptions and purchasing trends and the unique roles played
purchasing patterns. by different types of retail establishments.
Notably, the study revealed a considerable
SCOPE OF THE STUDY: preference among participants for making
purchases from private retail shops, followed
 Advancements in Cosmetic Science: closely by super bazaars and consumer
Innovations Driving Beauty Products cooperative stores. Moreover, the research
 Crafting Formulas: Essential underscored the influential role of housewives
Ingredients and Material Blends in shaping these purchasing choices.
 Investigating Cosmetics: Fundamental
and Applied Research Kotler:
 Insights from Manufacturing:
Kotler argues that the financial status of
Research in Cosmetic Production
individuals significantly impacts their
Facilities
purchasing decisions. A notable factor
 Evaluation of Skin and Hair: Testing influencing these choices is the disposable
and Analysis Methods income available to various socioeconomic
 Remedial Solutions: Therapeutic Care groups, with wealthier individuals having
for Skin, Hair, and Body more access to luxury goods compared to
those with limited financial means.
LIMITATIONS: Consequently, luxury items typically come
with higher price tags. Importantly, the types
During the analysis phase, several significant of purchases differ across different
limitations have become apparent. Time socioeconomic classes. For instance,
constraints stand out prominently, particularly individuals with higher incomes often invest
given that the survey respondents include both in luxury items like exquisite jewellery, often
individuals who have previously purchased purchasing them from upscale retailers.
beauty products online and those who have Conversely, individuals from lower

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

socioeconomic backgrounds prioritize fragrances and makeup have lower

essential items, driven primarily by the need percentages at 35% and 30%, respectively.
to meet basic necessities. Overall, skincare and hair care seem to be the
primary focus areas for the majority of
RESEARCH DESIGN respondents.

 Sample size: 60 respondents  Factor influencing customer choice

 Tools for Data Collection: Primary when purchasing a cosmetic product
data was collected by a questionnaire, Brand reputation emerges as the most
and secondary data was gathered from influential factor, with 70% of respondents
various scholarly articles, journals, prioritizing it. Price and ingredients follow
and reports. closely, with 46.7% and 41.7% respectively.
Other factors such as recommendations from
 Data Analysis, Interpretation and friends and family, social media reviews, and
suggestion : celebrity endorsements have comparatively
53.3 percent of the respondent are Male and lower influence, ranging from 13.3% to
46.7 percent of the respondent are Female. 20% of respondents.

66.7 percent of the respondent are belongs to The paramount importance of brand
the age group of 18-24years, 20 percent of the reputation among respondents, with 70%
respondent are belongs to the age group of 25- prioritizing it when choosing cosmetic
34years. products. These findings indicate that
consumers prioritize trust and quality linked
50 percent of the respondents are having the with reputable brands, alongside considering
income less than 20k, 25 percent of the factors such as affordability and product
respondent are having their income of 20k- composition. In contrast, social factors and
50k, 15 percent of the respondent are having celebrity endorsements appear to have
their income of 75k-100000. minimal influence on their decision-making
process.
Occupation data unveils a predominant
presence of students, comprising 55% of The data highlights shopping venue
respondents, followed by 35% who are preferences among respondents, with
employed, 8.3% self-employed, and 1.7% specialty cosmetic stores leading at 50%.
unemployed. Department stores and pharmacies closely
follow, with 43.3% and 41.7% respectively,
 Often usage of cosmetic product : while online retailers show a lower preference
36.7% of respondents use cosmetic products, at 28.3%.
this data highlights a considerable consumer
interest in cosmetics, with a noteworthy  Monthly spending of customer for
percentage incorporating them into their daily cosmetic product
rituals. These findings underscore the The data illustrates how respondents allocate
importance of cosmetics in everyday personal their budgets: 46.7% have budgets below 500,
care, signalling opportunities for cosmetic while 21.7% allocate between 500 and 1000.
companies to refine products and marketing Moreover, 15% allocate budgets ranging from
strategies to better address daily beauty rituals. 1000 to 1500, with 16.7% allocating budgets
exceeding 2000.
Skincare is the most popular category among
respondents, with 70% selecting it. Hair care Majority of respondents depicts that almost
follows closely behind at 45%, while 46.7 % customers purchase cosmetic products

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below 500 due to various reason it may be y 9

based on customers are price sensitive. 3 Occasiona 11 - 36 12.0
lly 1 1 3
 Factors contribute to trust in a 9
cosmetic brand 4 Rarely 15 - 22 7.5
Sl.No Particulars Percent 1 5
1 Transparency about 36.7 5
ingredients 5 Never 2 - 78 26.1
2 Positive customer reviews 65 2 4 3
3 Influencer 35 8
4 Social responsibility 16.7 Tot 60 60.3
initiatives al 9

The table shows that data showcases the E=60/2 = 30

influence levels of different factors: positive Degree of freedom = [ n -1 ]
customer reviews hold the highest sway, [5 – 1 ] = 4
valued by 65% of respondents. Transparency
about ingredients comes next at 36.7%,
followed by influencer endorsements and
social responsibility initiatives, which impact
35% and 16.7% of respondents, respectively.

The data highlights the varying influence

levels of different factors on respondents'
decisions. Positive customer reviews hold the
greatest way, valued by 65% of respondents, For 4% degree of freedom, the value from the
indicating the significance of peer table at degree of freedom 4 is 13.277 and the
recommendations. suggesting a moderate value calculated is 60.39. Here calculated
influence compared to other factors these value is greater than the table value. Hence
findings underscore the importance of the null hypothesis formulated is rejected
understanding and leveraging diverse
influences to effectively cater to consumer SUGGESTIONS :
preferences in the cosmetic industry.
To drive consumer confidence, loyalty, and
HYPOTHESIS sales growth, cosmetics companies should
H0: People do not often engage in online focus on key areas identified in the study.
cosmetic purchase. Enhancing brand reputation and leveraging
positive customer reviews are crucial for
H1: People often engage in online cosmetic influencing purchasing decisions. Building
purchase. consumer trust can be achieved by ensuring
website usability and maintaining
Sl. Particulars No. of O (O (O- transparency about product ingredients.
No. Responde - - E)2/ Marketing strategies should target young
nts E E) E adults, who form the predominant
2 demographic, and emphasize popular
1 Always 11 - 36 12.0 categories like skincare and hair-care.
1 1 3 Offering affordable product lines and
9 highlighting social responsibility initiatives
2 Frequentl 21 - 81 2.7 will attract both price-sensitive and

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environmentally conscious consumers. suggest a need for affordable product lines to

Additionally, leveraging social media and address price sensitivity and highlight social
influencer marketing can further engage and responsibility initiatives to attract
influence potential customers. By addressing environmentally conscious consumers.
these areas, companies can cultivate a positive Effective engagement and influence can be
online market perception and strengthen their achieved through social media and influencer
position in the digital marketplace. marketing. Overall, a positive online market
perception is essential for driving consumer
SUMMARY & CONCLUSION confidence, loyalty, and sales growth in the
digital marketplace.
This study investigates the impact of online
market perception on consumer buying BIBLIOGRAPHY AND REFERENCES
behavior in the cosmetics industry, utilizing
frameworks such as the Technology 1. Subrahmanya, B. "Consumer Behavior in
Acceptance Model and the Elaboration Goods and Services Marketing." Journal of
Likelihood Model. Data from 60 respondents Marketing Research, vol. 19, no. 3, 1982, pp.
reveal that brand reputation and positive 245-259.
customer reviews are critical factors 2. Kotler, Philip, and Kevin Lane Keller.
influencing purchasing decisions, while Marketing Management. 15th ed., Pearson,
website usability and ingredient transparency 2016.
significantly build consumer trust. The study 3. "E-commerce and Digital Transformation
identifies young adults as the predominant in the Cosmetics Industry." McKinsey &
demographic, with skincare and haircare as Company, 2021.
the most popular product categories. Findings

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A STUDY ON RISK AND RETURN OF ALTERNATIVE INVESTMENT

OPPORTUNITIES

Dr. Ranjit Kumar Siringi

Assistant Professor, Department of Commerce and Management Studies
Andhra University , Visakhapatnam, India

ABSTRACT
Investment is the most important thing today. Business men‘s are earning handsomely. They
have all right to invest and spend to some extent. But lack of financial education, put them in
much more difficult situation. At present lot of investment avenues are available market with
investor education. Investors can choose from a variety of instruments and assets. While making
the choice, they should also consider the rate of return and risk that on their investment. We will
be discussing the risk and return of each investment avenue by using portfolio management. A
portfolio is a mixture of investment avenues. An investor usually maintains a portfolio. The aim
of managing a portfolio is to diversify and reduce risk and maximize return, which is also
otherwise known as not putting all your eggs in a single basket‘.

KEYWORDS: Investment avenues, diversify, portfolio, risk and return

income. On the other hand, an entity whose
INTRODUCTION income is less than its expenditure can raise

Finance is an area of study which is namely capital by borrowing or selling equity claims,
concerned with two distinct areas i.e. decreasing its expenses, or increasing its
financing and investing. We will be dealing income.
with financial management relating to
investment activities. This area of finance We will be focusing on those entities that
deals with finding out the best combination or have surplus income and are looking for
portfolio of financial assets and thus focuses avenues of investment. Therefore we will
attention on the allocation of funds once they further go into portfolio management of
are acquired. This area focuses attention individuals and risk and return analysis of
whether an investor should put all his money each investment avenue.
in one financial asset or in a combination of
different financial assets. Risk and Return Analysis
The most important motive for an investor
It studies and addresses the ways in which to invest is to earn a return on their
individuals raise, allocate and use monetary investment. However, selecting
resources over time, taking into account the investments on the basis of maximization
risks entailed in their projects. It is the of return is not enough. The investor also
application of a set of techniques that considers the risk associated with the
individuals use to manage their financial investment.
affairs, particularly the differences between
income and expenditure and the risks of Return means the benefit, which arises out of
their investments. any investment or undertaking. In financial
management we are primarily concerned with
An entity whose income exceeds its the return paid to an individual investor.
expenditure can lend or invest the excess Return can be paid in one go or at regular
intervals. Return is the foremost important

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

reason for an investor to make an investment.

The investor is always ready to undertake Income and risk factors play a significant role
new investment opportunities if the return while selecting particular product, as it can
paid are high. create an opportunity for one product and
may not for the other, the analyzing impact of
Risk means the variability of an investment income and risk on investment pattern of
or security returns. It means that the future investors is important.
returns of the investor are unpredictable. It
can be stated as the possibility that the actual As research reports shows that frequency
outcome of the a financial decision may not of investment pattern, factors, income
be the same as estimated. It refers to level play more significant role in
possibility of receiving or not receiving the deciding pattern of investment. So
estimated return which can be quantified and analyzing the factors that affect
measured. investment pattern of investors and other
investment criteria provide the valuable
NEED OF THE STUDY insights.

Comparatively this study reveals investor‘s OBJECTIVES OF THE STUDY

mentality on investment and its implications.
There are institutions which offer attractive  To study the awareness about
packages to investors. Medias like TV, available avenues for a investors.
Newspaper, Magazines etc., help the  To examine the knowledge and
investors to access their available avenues problem about available avenues
for investment. Majority of investor being for investment.
educated elites in this study, know the  To develop awareness on
available avenues of investment and investment among business
institutions. Thus, to ascertain business People‘s.
men‘s psychology over investment and  To analyze the investing habits of
financial institutions, an attempt has been business People‘s.
made to project the various available  To know the expected rate of
avenues for investment and the need for return in investment among
government‘s suitable action in their business people.
business.  To offer suggestions on the basis
of findings.
SCOPE OF THE STUDY  To understand in depth about
different investment avenues
The primary market starts from broad available in India.
environmental factors to the industry, which
 To find out how investors get
influences the share price and finally
information about the various
analyzing the companies potentiality by
financial
considering possible risk associated with
Instruments.
securities for investing public.
LIMITATION OF THE STUDY
Since share prices of the company is
empirically found to depend up to 50% on
Following are the limitations of the present
the performance of the industry and the
study
economy, studying those related field
provide insights for selecting different
products.
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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

 The information provided by the Based on these in depth analysis was carried
respondents in spontaneous and they out to suggest/help the bank‘s investment
may not be consistent. advisors to cater to the needs of the HNI‘s in
 Accuracy of the primary data collected a better way thereby increasing the
depends upon the authenticity of the customers satisfaction and high HNI
acquisition.
Information filed by the respondents of
questionnaires. Problem Statement
 The investment pattern analysis has
been limited to only investors. Kotak Mahindra Bank, in its pursuit to
 This study is conducted to analyze establish itself as a leading retail bank in
their pattern not all those factors that Eastern India, is conscious of the fact that
really Matter while investing. other competitive banks are very
 An interpretation of this aggressive and focused in offering
study is based on the assumption structured portfolio management/
that the respondents have given investment advisory services to their HNI
correct information. clients
 The economy and industry
are so wide and comprehensive that Kotak Mahindra bank, which also offers such
it is difficult to encompass all the investment advisory services to its HNI,
likely factors influencing the through its subsidiary called Kotak Mahindra
investor’s investment pattern in the Financial Service (IVFSL). The specialized
given period of time. investment advisors under the payroll of
 The study has the limitation IVFSL are accommodated and placed in all
the branches of Kotak Mahindra bank to cater
of time, place and resources.
to the requirements of the bank‘s HNI clients.
METHODOLOGY OF THE STUDY
However since the conversion rate of HNI
In depth analysis of all the investment into investment advisory services is low. This
opportunities (instruments) that Kotak project was commissioned with the sole
Mahindra bank offers to its HNI clients. Also motive of analyzing the products, services
a sample study has been conducted on 100 and risk analysis of each investment
HNI‘s of the bank to understand their instrument with the aim to augment the
individual risk appetite and investment Financial advisors with in depth analysis of
preferences. A comparison study of all these factors which will help them in
investment instruments offered by Kotak understanding the needs/requirements of the
Mahindra bank with that of other competitive HNI‘s to boost the conversion rate. This will
banks has also been conducted. not only help the bank in retention of its
HNI‘s but also lead to an increase in
acquisition of HNI‘s.

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Tabular Representation of various investment instruments (including

SWOT analysis)

Corporat
Parame Bank Pref. Govt. e
ter Equity Shar MF LIC Gold Land IPO
Deposit e Sec Bonds
No
Between 5-20% 5- 10- 4-5% 5% 5-6% No fixed Depends
ROR 4-9% 20% 25% fixed Rate on
return Demand
&
Supply
6 mths –
Long > 1-20 > 1- 1-5 Above 10 Lock in 3-5 years Above 5 and 3
3
Tenure Term 10 years 20 years years period years above years
o
years years f 6
years
Secure
Secured No No No By issuing d Covered Highly Secured No
organizati b under secure
Security by Bank securit securi securi on y rating d security
regulate y ty ty govern agencies
d by
RBI ment
No No
Highly Liquid Liqui Provi liquidity Provide liquidity Highly Not Liquid
Liquidity liquid d des s liquid liquid
liquid n
i o
liquidit
ty y
Moder Modera
Price NIL Maxim Maxi Maxi NIL NIL NIL a t High
volatility
um mum mum te e
Tax Long Long Long Benefit on Interest Non Non Only on Nil
agricult
deducted term term term premium income u
amount receive
Tax at source capital capita capita and d ral land
Benefit
gains l l maturity will be
benefit gains gains amount taxable
benef benef
i i
t t
Risk Risk Risk Risk Risk Low risk Risk Moderate Risk Risk Risk

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profile of risk
seeke seeke
an averse seekers r r seekers averse averse averse averse
investor
s s
Money Maturit
Cash Assured No No No back y Non Non Non NIL
Flow cash assurity assuri cash policy amount
flow ty flow known
Cumberso Cumbe Cumber
Some Very Very Paper m r Simple Non s A lot
Administr
ation amount less less work e paper some ome paper
of paper is work paper paper work
work there work work
Multip Multipl
Pick- a- Right Right Non Life cover Non Non l e Non
Additiona e
l date to vote to usage usage
feature in the vote
Features
CO in the
CO
Accept
Highly Only Only Not Accepted e Non Accept Mainly No
accep provide
accepted availab availa t d ed d
le on ble on ed
Collateral
loans loans
again
against s
shares t
share
s
Profe Profe Profession Manag Professiona Professi
Professi Profess s s al e ll Not Not on
Profession ly manag manage
al onally ionally sional sional Managed d by y Managed e d ally
Manage
Managem Manage Manag ly ly Govern d d
ent
d ed Mana Mana ment
ged ged

Risk appetite:-
Risk appetite No. of Respondents Respondents in %
1. Low returns and highest safety 50 50
2. Mixed portfolio 25 25
3. High returns and lowest safety 25 25

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Interpretation:-
a. 50% of the sample doesn‘t invest in FD‘s: This shows that HNI‘s are more
concerned about the returns rather than the safety aspect of the investment.

b. 25% of the respondents are invested in a mixed portfolio, thereby signifying the
importance of spreading the risk while looking for better returns.

c. 25% of the respondents are interested in investment in real estate, which signifies high
degree of security with returns.

Investment period:-

No. of
Investment period Respondents Respondents in %
1. Short-Term Investments 50 50
2. Long-Term Investments 15 15
3. Medium-Term Investments 35 35

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Interpretation:-

a. More than 50% of the respondents are in short term investment horizon.

b. Only 15% of the respondents are actually interested in long-term investments

c. Remaining 35% of the respondents are interested in medium-term
investments.

Do you follow stock market?

No. of Respondents in
Follow stock market
Respondents %
1. Investment through stock market 54 54

2. Investment through mutual funds 46 46

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Interpretation:-

a. 54% of the investments in the stock market are done directly

b. The rest 46 % of the respondents invest through the mutual funds

Do you think stock market is a safe way of investment?

No. of Respondents in
Stock market is a safe way of investment
Respondents %
1.Stock market is not a safe avenue 53 53

2. Don‘t have any views about the stock market 16 16

3. Stock market is a safe avenue 31 31

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MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

Interpretation:-

a. 53% of the respondents view the stock market as not a safe avenue of
investment.
b. 16% don‘t have any views about the stock market. These respondents remain
the untapped segment of the HNI‘s

If so – you will invest directly or through intermediary

Invest directly or through intermediary No. of Respondents Respondents in %

Investments on their personal views
1. 66 66
Investments based on professional advice
2. 34 34

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Interpretation:-

a. About 66% of the ones, who invest investments on their personal views.

b. Around 34% make investments based on professional advice. This goes to

show that a small segment of the HNI‘s relying on professional advice for
IPO investments.

Analysis of Each Investment Avenue

In the investing world, the dictionary definition of risk is the chance that an investment‘s actual
return will be different than expected. Technically, this is measured in statistics by standard
deviation. Risk means you have the possibility of losing some, or even all, of our original
investment.

Given below is the table, which states the kind of risk, return, tenure and other benefits of
different investment avenues. This helps us further suggest the kind of investment an investor
can make based on the personal profile.

Type of investments Risk Returns Tenure Other benefits

Equity High High Long Low

Gold Low Moderate Long High

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Preference Shares High High Long Low

Corporate Bonds Low Low Moderate Low

Mutual Funds High High Short Low

Government Securities Low Low Long High

Land Low High Long High

Bank Deposits Low Moderate Moderate High

IPO’s High High Short Low

Insurance Policy Low Low Long High

Risk – Return Trade – Off Between different Investment Avenues:-

The relation between risk and return that usually holds, in which one must be willing to
accept greater risk if one wants to pursue greater returns also called risk/ reward trade-off.
A common misconception is that higher risk equals greater return. The risk/ return trade off
tell us that the higher risk gives us the possibility of higher returns. There are no guarantees.
Just as risk means higher potential returns, it also means higher potential losses. Low levels
of uncertainty (low risk) are associated with low potential returns. High levels of
uncertainty (high risk) are associated with high potential returns.

- The highest return investment is Equity

- The highest risk investment is Equity

- The lowest risk investment is Government Security

- The lowest return investment is Government Security

FINDINGS one financial asset or in a combination

of different financial assets.
This area of finance deals with finding
out the best combination or portfolio of Selecting investments on the basis of
financial assets and thus focuses maximization of return is not enough.
attention on the allocation of funds The investor also considers the risk
once they are acquired. associated with the investment.

This area focuses attention whether an Every bank and financial institute
investor should put all his money in provides investors with various

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

instruments of investments. They are

enumerated below:- Mutual funds, Consider the rate of inflation before
Insurance policies, Government depositing money in fixed deposits
securities, Corporate bonds, Fixed because the inflation might eat up the
deposits, Land and property, Gold, savings
Equity, IPO‘s, Preference shares
Some of the facilities offered by banks
Bank deposits are fairly safe because on the amount deposited in form of
banks are subject to control of the fixed deposits are overdraft (loan)
Reserve Bank of India (RBI) with facility, premature withdrawal before
regard to several policy and operational maturity period (which involves a loss
parameters. of interest) etc.

Long term growth through capital

appreciation and High rate of return If No taxes are charged on dividends
company is liquidated payments to reference received in the hands of the investors as
share-holders will be ranked ahead of equity well as the mutual fund house. Volatile
share holders.Preference share-holders does market conditions at the moment of
not hold the right to vote in the issuing IPO issues cause high concerns among
company the investors
1onversion rate of investment advisory
SUGGESTIONS services. Therefore after the study and
analysis recommendations have been
The project report covers portfolio made to the RM‘s on how to improve the
management of a HNI. These individuals service.
have surplus money, which can be
invested into various investment avenues. This has been done in the following
For example land, stock market, bank sequence. First the HNI‘s and their
deposits, government securities etc., Each investment avenues were analyzed. Then
Investment avenue open to HNI‘s has the risk and return of each investment
been evaluated on the basis of risk and avenue was conducted. After which a
return. No individual wants his/her sample of 10 HNI customers were visited.
savings to lie ideal and be eaten by Analysis of these HNI‘s showed some
inflation. patterns in which these customers invest
and how they perceive each investment
These individuals are constantly looking instrument. On the basis of such data
for opportunities to invest their surplus recommendations were made to the
money and get good returns. Professional relationship managers.
investor advisors provide this service.
They personally look into the risk CONCLUSION
appetite of the investor and design the
best suited portfolio from him./her. For The research report analyzes the
this purpose a case study was conducted portfolio of Kotak HNI customers. A
on the Kotak Mahindra‘s HNI‘s to find sample study of 10 HNI‘s was
out how they perceive different conducted and on the basis of which the
investment avenues. The bank faces low recommendations were made. The risk

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

and return of each investment instrument such allocation will fall short. Movement
available to a HNI on the whole and from one stock to another is unlikely to
through the Kotak Mahindra Bank was alter the risk profile of the portfolio in any
conducted. The products and services of significant manner. But adjusting the
the bank are compared to other banks proportion that is invested in equity is
also likely to impact both the risk and return of
the portfolio. Relationship managers need
It has been noticed that HNI‘s provide a to train their eyes to watch if the
huge opportunity to the RM‘s of the bank investor‘s goals are best served by the
for giving professional investment advice. current allocation, or should a change be
Now a days the customers are well aware made, given downside risks. Learning
of the surrounding market and don‘t investment concepts is all fine, but to
really take any type of advice. They are apply them to an investor‘s situation, one
looking for investment advice, which are has to view the portfolio from the
supported by strong conviction. The investor‘s angle rather
market of professional advisors are
growing at such a huge rate that if the References:
client is not happy with the services of the BOOKS:-
RM he/she can easily look for a better Derivatives Dealers Module Work Book -
advisors. Therefore the RM‘s along with NCFM (October 2005)
personal advice have to also provide Gordon and Natarajan, (2006)
quality advice. The risk to the investor is ‘Financial Markets and
always distilled in terms of his goals, Services’ (third edition)
investments and the target rate that his Himalaya publishers.
investments must achieve to meet the goal. Financial Derivatives – GUPTHA
Therefore, the investor will not care for
standard deviation in itself, but about the WEBSITES:-
risk that his investment will fall short. If 1. www.kotak.com
one is planning for the child‘s education 2. www.iloveindia.com/finance/bank/private -
or retirement, such shortfalls are too banks
tough to make good, on a later date. So, to
the investor, risk is only about down side 3. Mutual Funds by Akhilesh
deviation from a target rate. How does 4. Portfolio Management by Mr.S..Kevin
one put the two together? The choice of 5. Insurance training booklet – Kotak
asset classes and percentage allocation Mahindra Life Insurance
will have to be driven by standard 6. www.ingvysyalife.com
deviation and its understanding. But the
subsequent monitoring and review of the 7. www.investopedia.com
portfolio will have to be in terms of the 8. Business Magazines
investor‘s goals, and the possibility that

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

THE DIGITAL TRANSFORMATION AND INNOVATION OF INDIAN CITIES:

OPPORTUNITIES AND CHALLENGES OF THE KNOWLEDGE ECONOMY

Ms. Rashmi Tripathi

Assistant Professor, Amity Business School, Amity University, Lucknow

Abstract:

India's urban landscape is poised for a paradigm shift, driven by the expanding digital economy.
On the one hand, digital infrastructure opens doors to enhanced efficiency, improved service
delivery, and increased citizen engagement. Smart city initiatives with connected grids,
intelligent transportation systems, and e-governance platforms promise optimized resource
allocation and a more responsive administration. Furthermore, the knowledge economy fosters
innovation and entrepreneurship, creating new jobs and attracting a skilled workforce. This can
fuel economic growth, revitalize urban spaces, and empower marginalized communities through
increased access to information and services.

However, navigating this digital landscape is not without its hurdles. Bridging the digital divide
remains a critical challenge, as unequal access to technology and skills can exacerbate existing
inequalities. Data privacy concerns, cybersecurity threats, and the ethical implications of
automation also require careful consideration. Moreover, adapting existing infrastructure and
regulations to accommodate the rapid pace of technological change poses a significant
challenge.

This paper explores the twin pillars of this transformation: the opportunities presented by
harnessing technology and the challenges inherent in building a knowledge-based urban
ecosystem.

This paper delves into these opportunities and challenges, examining factors like digital
infrastructure development, skill development, inclusive economic growth, and governance
adaptation. By analyzing best practices and emerging trends, present paper aims to provide
insights for harnessing the potential of the knowledge economy while mitigating its pitfalls,
ultimately paving the way for sustainable and equitable growth in Indian cities of the future.

Keywords: Digital Transformation, Knowledge Economy, Smart Cities, Inclusion, Sustainable

Growth.

Introduction fabric of urban life, presenting both thrilling

opportunities and formidable challenges.
India's urban landscape stands at the precipice The global population is increasingly moving
of a monumental shift, propelled by the towards urban areas, with projections
burgeoning digital economy. This indicating that 65 percent of people will be
transformation promises to reshape the very residing in cities by 2040. This rapid

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urbanization brings forth various challenges the Mission so that they can be adopted for
such as traffic congestion, energy replication throughout the nation.
consumption, waste management, and public As the world continues to grow in population,
safety. Additionally, critical issues like over 7.6 billion according to the World
climate change, population pressures, Counts, new solutions must be implemented
inequalities, and the management of evolving to ensure the wellbeing of all. This is
technologies need to be addressed. especially true in our ever-expanding cities
Cities are grappling with pollution, across the globe. And, as a second most
infrastructure problems, and the depletion of populated country, India is the perfect setting
resources. Climate change exacerbates the for implementing smart technologies.
vulnerability of urban areas, particularly for
marginalized groups. The urgency for The Urban Innovation rises in India
innovative solutions has never been greater.
Consequently, the concept of smart cities has The world is today increasingly urbanised,
gained momentum as a means to achieve with well over half of the world’s population
sustainable urban development. Smart cities living in cities, while more than 80 per cent of
utilize advanced technologies, including global economic activity stems from cities.
artificial intelligence (AI), to enhance the By 2030, it’s estimated that cities and towns
quality of life for citizens, optimize urban will be home to 40 per cent of Indians and
planning and management, and create more contribute three-quarters of India’s GDP. It’s
sustainable and efficient urban environments. no surprise that a recent report by Oxford
In India, the Smart Cities Mission was Economics states that in terms of the top 10
launched in June 2015 as a transformative cities for economic growth, India’s urban
initiative to redefine the urban landscape. areas are set to dominate the globe over the
With the rapid growth of urbanization and its next two decades.
associated challenges, the mission aims to
integrate technology, sustainability, and While no country has achieved economic
efficient governance into urban planning and success without urbanization, it does come at
development. It is a flagship program of the a price. Cities, as they grow in size and
Government of India and has made significant increase in population, inevitably cause
progress since its inception. Recently, the pollution, for example. The Indian
government extended the deadline for the government faces the challenges of
mission to June 2024. guaranteeing economic sustainability,
enhancing infrastructure, and controlling
The primary objective of the Smart Cities urban expansion. The Digital India strategy of
Mission in India is to establish 100 smart the Indian government seeks to change citizen
cities across the country by 2023. These smart services in this way. Its Smart Cities Mission
cities are envisioned as centers of economic is especially concerned with creating a
activity, innovation hubs, and sustainable development paradigm that is inclusive,
urban ecosystems. sustainable, and repeatable. To achieve this,
According to ministry officials, the extension the Mission places a strong emphasis on
is being given to finish not only projects but stakeholder cooperation, public-private
also the documentation, distribution, and partnerships, standardized procedures, swiftly
institutionalization of all best practices, deployable projects, effective governance,
templates, and innovations developed under efficient resource management, strict

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monitoring, and prompt incident resolution. Enhanced Efficiency: Smart cities maximize
Smart cities will also require holistic cyber- the use of resources like electricity, water, and
security that covers both citizens and transportation systems by utilizing real-time
institutions and protects them across all data and analytics, which reduces waste and
technology layers. boosts efficiency.
Enhanced Transportation: Intelligent
None of this is possible without deploying transportation systems, encompassing
cutting-edge digital technologies, whether in efficient traffic management and advanced
greenfield cities like Andhra Pradesh’s public transit solutions, have the potential to
upcoming capital Amaravati or in millennia- alleviate congestion and enhance the overall
old ones like Bhubaneshwar. mobility of residents.

Among the noteworthy instances of Sustainable Environment: Smart cities can

advancement are: implement environmentally-friendly
initiatives like intelligent energy grids,
Jaipur: To improve emergency response and efficient waste management systems, and eco-
urban planning, Jaipur established the conscious infrastructure, thereby contributing
Integrated Command and Control Center to the reduction of carbon emissions and the
(ICCC), which provides real-time data. preservation of the environment.

Surat: With a strong emphasis on waste Enhanced Public Services: By integrating

management, Surat has reduced landfill waste technology and data, smart cities can provide
by using effective waste segregation and enhanced public services, including improved
processing techniques. healthcare, education, and emergency
response systems.
Bhubaneswar: The city's comprehensive
smart city plan sought to enhance public Promotion of Economic Growth:
transportation by implementing a cutting-edge, Embracing innovative technologies attracts
integrated bus rapid transit system (BRTS). businesses and investments, fostering
economic growth and creating job
Indore: Through creative waste-to-energy opportunities within the city.
initiatives, Indore modernized its waste
management system and emerged as one of Objectives of Study: The key research
India's cleanest cities. objectives for studying the digital
transformation of Indian cities within the
Pune: Pune concentrated on creating smart knowledge economy are:
transportation solutions, including enhanced
walkways, bike lanes, and an Intelligent 1. To explore the twin pillars of this
Transport System (ITS) that runs the entire transformation: the opportunities
city. presented by harnessing technology
and the challenges inherent in building
Smart cities have many potential advantages a knowledge-based urban ecosystem.
that could have a significant impact. Among
them are:

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2. To identify key barriers to digital et al. (2019) after conducting a

inclusion for marginalized multidisciplinary review. The writers also
communities in smart cities. described growth plans for digital businesses
and the skills and resources needed to
3. To analyze best practices and undergo an effective digital transition,
emerging trends to provide insights for emphasizing the need for particular
harnessing the potential of the managerial structures to measure and adjust
knowledge economy while mitigating performance. In order to investigate the past,
its pitfalls, ultimately paving the way present, and future developments in business
for sustainable and equitable growth in architectural evolution, Gampfer et al. (2018)
Indian cities of the future. carried out a systematic review. Using
artificial intelligence methods including
supervised learning, text mining, and
4. Propose policy recommendations to information retrieval in conjunction with
bridge the gap between digital manual article screening, the researchers
infrastructure and sustainable urban provided a historical picture of the
planning in smart cities. development of EAs. They also gave an
overview of EA's present focus and offered
Literature Review suggestions for more predictive analytics
research in the future.
Over the past ten years, a growing number of Based on business models and an enterprise
studies have reviewed the significance of architecture viewpoint, Pourzolfaghar,
digital transformation or corporate Bezbradica, and Helfert (2016) conducted a
architecture in creating smarter cities. In order review to identify several types of IT
to overcome the challenges of digital architectures in the smart cities area. The
transformation, Butschan et al. (2019) carried authors explored on different architectures
out a thorough literature assessment on the based on business context and also conducted
applicability of skills in the context of the an in-depth review of the well-known EA
industrial internet of things (IoT). A concepts to derive an evaluation framework
competency model was developed based on for architectural requirements for business
the review to investigate how individual context for relevant smart service
competencies contribute to overcoming the requirements. After conducting a literature
obstacles associated with digital analysis, Lange, Mendling, and Recker (2012)
transformation. In order to inductively create identified the benefits and success elements of
a paradigm for digital transformation based on enterprise architecture (EA). These findings
eight basic pieces, Vial (2019) reviewed 283 were then combined with the DeLone &
papers. The author also provided a research McLean IS success model to create a
agenda for future strategic IS contributions on theoretical model that explains how EA
digital transformation, focusing on the benefits are realized. Chen, Doumeingts, and
importance of dynamic capabilities and Vernadat (2008) made an effort to provide a
accounting for ethical challenges. roadmap for future corporate interoperability
and integration based on an analysis of
Three stages of digital transformation— previous and current architectures. In addition
digitization, digitalization, and digital to providing an overview of corporate
transformation—were identified by Verhoef integration architectures used in the 1980s,

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the researchers established and clarified some due to urbanization. These challenges include
fundamental concepts related to enterprise the inability of cities to meet basic needs such
architecture. The primary emphasis of their as access to safe drinking water, clean air,
review was the latest developments in reliable public transportation, and well-
enterprise interoperability designs. maintained roads and pavements.
Additionally, cities must also provide
Opportunities of Digital Transformation essential social infrastructure like schools,
for Smart Cities: The digital revolution hospitals, and public parks, as well as
offers a plethora of opportunities for Indian economic infrastructure such as bridges,
cities: flyovers, and markets.

However, one of the primary obstacles faced

 Enhanced Efficiency and Service by smart cities is the issue of privacy and data
Delivery: Connected grids, intelligent security. With the widespread use of sensors,
transportation systems, and e- cameras, and connected devices, a significant
governance platforms promise amount of data is generated regarding
optimized resource citizens' activities and movements. It is
allocation, streamlined processes, and crucial to ensure that this data is collected,
improved service delivery across vital stored, and utilized ethically and securely to
sectors like healthcare, education, and prevent misuse and protect individuals' rights.
sanitation. Another significant challenge is
 Knowledge Economy and interoperability and standardization. Smart
Innovation: The digital landscape cities involve multiple systems and services
fosters a thriving knowledge from different vendors and stakeholders. The
economy, attracting skilled lack of standardization can result in
professionals and nurturing innovation compatibility issues, which can hinder the
and entrepreneurship. This generates seamless integration of these technologies.
new jobs, revitalizes urban spaces, and Ultimately, this may limit the effectiveness of
empowers marginalized communities smart city initiatives.
through increased access to
information and services. Other challenge can be automation and job
displacement and regulatory
 Citizen Engagement and adaptation. While automation offers
Transparency: Digital platforms increased efficiency, it also presents the risk
facilitate enhanced citizen of job displacement. Preparing the workforce
engagement, enabling residents to for new skills and ensuring adequate social
actively participate in decision-making safety nets are critical to mitigate negative
processes and hold authorities impacts. Rapid technological advancements
accountable. This fosters a more necessitate agile and adaptable governance
transparent and responsive governance structures. Streamlining regulations, fostering
system. public-private partnerships, and investing in
research and development are key to keeping
Challenges of Smart cities pace with the digital revolution.
Urban planners have identified several key Furthermore, the digital divide poses a
challenges that India will face in the future significant obstacle to the idea of a smart city.

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

Not all individuals have equal access to

digital technologies or possess the necessary
digital skills to fully utilize the city's smart The E-mobility strategy for Bhubaneshwar is
services. This inequality can worsen existing a nice example of this. The project is big
social disparities and further marginalize because it calls for changing construction
disadvantaged communities. ordinances, expanding road networks,
switching to electric buses and e-rickshaws,
Moreover, urban resilience is another area of creating e-vehicle charging centers, and more.
concern. Over-reliance on technology can An intelligent transportation system featuring
make cities susceptible to cyber-attacks, control centers and video analytics would then
power outages, or system failures. Smart oversee everything.
cities must have robust contingency plans and
disaster management strategies in place to Notwithstanding the difficulties, these
ensure their functionality during times of instances show how important it is for
crisis. technologies like the Internet of Things,
artificial intelligence, and big data analytics to
In addition, the financial burden associated contribute to the development of smarter,
with implementing smart city technologies more sustainable, and more livable Indian
can be overwhelming. Investments in cities for their residents. It is evident that
infrastructure, IoT devices, and data analytics digital technology can bring about actual
require substantial funding, and many cities transformation in addition to promoting
face budget limitations, making it difficult to automation. It is also clear that it can’t be
undertake large-scale smart city projects. done in isolation. It will require nurturing
collaborative public-private partnerships to
Barriers for Technological Advances in convert the promise of these technologies into
Cities value for citizens.

Amaravati wants to rank in the top 5 "Happy Role of Technology in Urban Planning and
Cities" in the world, with the best Development
infrastructure and standards of livability
combined with a robust business climate. Technology plays a pivotal role in the
Smart grids are being built into the city from strategic planning and advancement of
the bottom up to provide services like internet intelligent urban centers. Several key
connection, flood control, sanitation, LED technologies are instrumental in the digital
street lighting, security, and cooking gas and transformation of these areas:
water delivery, among others.
1. Internet of Things (IoT): The IoT
But the problem is far bigger with established connects everyday devices and objects to the
cities. In addition to the anticipated expenses internet, enabling them to gather and
associated with new technology, developed exchange data. In the context of smart cities,
cities must also refit their legacy IoT devices can monitor various aspects such
infrastructure, connect disparate service as traffic, energy consumption, air quality,
providers, manage modifications to their and more. This data empowers city officials to
fundamental operations, and adjust the way make well-informed decisions.
the bureaucracy operates. 2. Big Data and Analytics: Smart cities
accumulate vast amounts of data, which can

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

be analyzed to identify patterns and trends. partnerships (PPPs) to fund and implement
This analysis enables city planners to gain projects. PPPs involve collaboration between
valuable insights and make informed government entities and private companies,
decisions regarding urban development. leveraging their expertise, funding, and
resources. These partnerships allow
3. Artificial Intelligence (AI): AI-powered governments to share the financial burden of
systems have the capability to process smart city projects while benefiting from the
complex data and automate various tasks. efficiency and innovation of the private sector.
This leads to more efficient city management PPPs have proven successful in various smart
and improved citizen services. AI can assist in city projects, as private companies bring
tasks such as traffic management, waste cutting-edge technologies and management
management, and public safety. skills, while governments ensure that public
interests and sustainability are prioritized.
4. Renewable Energy Solutions: Smart cities These collaborations have been observed in
prioritize the utilization of sustainable energy areas such as smart transportation, energy
sources, such as solar and wind power. By infrastructure, and digital services.
reducing reliance on fossil fuels, these cities
aim to lower carbon footprints and promote Looking ahead, smart cities represent the
environmental sustainability. future of urban development, combining
technology and innovation to create
These technologies collectively contribute to sustainable, efficient, and livable
the creation of smart cities, fostering environments. The role of technology in
innovation, efficiency, and sustainability in urban planning and development cannot be
urban environments. overstated, as it empowers city authorities to
make data-driven decisions and address
pressing urban challenges. Through
successful case studies and public-private
partnerships, smart cities have the potential to
transform the way we live and ensure a better
future for generations to come.

Case Studies of Successful Smart City

Projects

Singapore: Singapore’s Smart Nation

initiative is focused on enhancing urban living
through digital innovation. The city-state has
implemented various projects, including smart
traffic management, a unified payment system,
and sensors for monitoring waste and energy
Public-Private Partnerships in Urban usage. These initiatives have resulted in
Investment improved efficiency, reduced congestion, and
better resource management.
The development of smart cities requires
significant investment, and many Barcelona, Spain: Barcelona’s Smart City
governments are turning to public-private program also aims to improve urban living

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

through technology. The city has

implemented initiatives such as smart street
lighting, parking management systems, and Working together towards a smarter
waste collection sensors. These efforts have future
led to energy savings, reduced traffic
congestion, and a cleaner urban environment. Collaboration is key to ensure we are all
moving in the sustainable future together. For
instance, Tata Communications has partnered
Best Practices and Emerging Trends: with Jamshedpur Utilities and Services Co.
Ltd. (JUSCO) to implement India’s largest
Learning from global best practices and deployment of smart streetlights. The project
emerging trends is crucial for harnessing the which encompasses devices, application,
potential of the digital transformation while network and even platform services, helps
mitigating its pitfalls: JUSCO save energy, reduce maintenance
costs, generate real-time reports, and reduce
carbon emissions.
 Inclusive City Planning: Smart city
initiatives must be grounded in the This is one example amongst thousands,
principles of inclusivity, ensuring where companies are working hard to invest
equitable access to digital in their cities’ futures. Transforming India’s
infrastructure and services for all urban clusters will require a high degree of
residents. technological standards and a culture that
 Skill Development believes in using technology as an agent of
Programs: Targeted skill change.
development programs aimed at
vulnerable communities and The partnership with CII for the CII-Tata
marginalized groups are essential to Communications Centre for Digital
bridge the digital divide and enable Transformation aims to be a catalyst to drive
meaningful participation in the adoption of mobile, cloud, IoT and cyber-
knowledge economy. security while shoring up the digital talent
pool. It is only through such collaborations
 Data Governance that we will be able to digitally transform
Frameworks: Robust data India’s cities into the new nerve centres of
governance frameworks that prioritize growth and enable citizens to truly prosper.
transparency, accountability, and
citizen consent are crucial to mitigate
privacy concerns and build trust in Conclusion:
digital systems.
The digital transformation of Indian cities
 Ethical Innovation: Ethical presents a unique opportunity to build vibrant,
considerations must be embedded in sustainable, and equitable urban spaces. By
the design and deployment of digital harnessing the opportunities of the knowledge
technologies. Responsible innovation economy while addressing the inherent
that prioritizes human well-being and challenges, India can pave the way for a
sustainability is key to navigating the future where every resident thrives in the
evolving technological landscape. digital age. This requires a collaborative effort

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from policymakers, businesses, communities, Information Systems, 3–17. Cham:

and individuals to ensure that the fruits of this Springer.
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development, assessing the impact of Transformation of Intelligence
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effective re-skilling programs, identifying (3): 393–411. doi:10.1108/JFC-03-2017-
effective strategies for bridging the digital 0020.
divide in diverse urban contexts and 6. Babar, Z., and E. Yu. 2015.
evaluating the ethical implications of “Enterprise Architecture in the Age of
emerging technologies and developing Digital Transformation.” International
frameworks for responsible innovation. Conference on Advanced Information
Systems Engineering, Stockholm,
Sweden, 438–443.
By actively engaging in research and 7. Berman, S., and A. Marshall. 2014. “The
addressing the challenges and opportunities Next Digital Transformation: From an
presented by the digital transformation, India Individual-centered to an Everyone-to-
can shape a future where its cities flourish as everyone Economy.” Strategy &
beacons of knowledge, sustainability, and Leadership 42 (5): 9–17.
equitable prosperity. doi:10.1108/SL-07-2014- 0048.
8. Boban, M., and M. Weber. 2018.
References: “Internet of Things, Legal and
Regulatory Framework in Digital
1. Akhmedova, E., and T. Vavilonskaya. Transformation from Smart to Intelligent
2019. “Digital Transformation of Cities.” 41st International Convention on
Existing Cities.” E3S Web of Information and Communication
Conferences 110: 02027. Technology, Electronics and
doi:10.1051/e3sconf/201911002027.ENT Microelectronics, 1359–1364.
ERPRISE INFORMATION SYSTEMS 9. Bokolo, A. J., and S. A. Petersen. 2019.
2. Aliee, F. S., H. Kash , and B. “A Smart City Adoption Model to
Farahani. 2019. “The Evolving Improve Sustainable Living.” Norsk
Enterprise Architecture: A Digital konferanse for organisasjoners bruk av
Transformation Perspective.” informasjonsteknologi.
Proceedings of the International 10. Caponio, G., V. Massaro, G. Mossa, and
Conference on Omni-Layer Intelligent G. Mummolo. 2015. “Strategic Energy
Systems, Crete, Greece, 179–183. Planning of Residential Buildings in a
3. Anthony, B., and S. A. Petersen. 2019. Smart City: A System Dynamics
“A Practice Based Exploration on Approach.” International Journal of
Electric Mobility as A Service in Smart Engineering Business Management 7: 20.
Cities.” In European, Mediterranean, doi:10.5772/61768.
and Middle Eastern Conference on 11. Grab, B., and C. Ilie. 2019.
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of Smart Cities Digital 16. “A Smart City for Public Value: Digital
Transformation.” Economic and Social Transformation through Agile
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51
 THE STUDY OF NEED ASSESSMENT IN AND AROUND CHANDRAPUR CITY IN
THE STATE OF MAHARASHTRA IN INDIA

Dr.Sudhir K. Pode
Associate Professor & HOD MBA
Ballarpur Institute of Technology, Ballarpur
Gondwana University Gadchiroli

Abstract
Introduction: Need is an essential element of human life. It may be physiological need, social
need, safety need, extreme need or need of belongingness. Over a period of time the of the person
could be change. In this study I have assess the factor like aspire to accomplish difficult task,
maintain high standards; and am willing to work towards distant goal; enjoy being with friends
and people in general and accept people readily; easily annoyed and some time; I am willing to
hurt people to set my way ;try to break from restrains or restriction of any kind; want to be
centre of attention and enjoy having an audience; speak freely and tends to act on spur of the
moment; assist other whenever possible, giving sympathy and comport those in need ; believe in
the saying that “there is place for everything and everything should be in its place; express my
opinions forcefully, enjoy the role of leader and try to control my environment as much as I can;
want to understand many areas of knowledge and values synthesizing ideas and generation.
These factors are very relevant to need assessment.

Purpose: This study reveals that how this factor is correlated to need of an individuals.

Methodology: The structured questionnaire was framed related to need assessment factors and
online questionnaire circulate in various groups; email to peoples belongs to industry, education
field, students, college staff and social workers etc.

Conclusion: - The final conclusion was drawn by applying reliability test, demographic survey,
correlation and regression analysis and ANOVA test has been applied to data to draw the
inferences.

Key words: - Need, Need Assessment, component of need, Age

I-Introduction A need is an opportunity for improvement

within a particular process or system. When
The need assessment is a process for
determining the needs between a current and you identify and resolve needs. You can act
desired outcome. It is a part of strategic on potential new opportunities like making
planning essentially a need assessment helps process more efficient streamlining resources
you pin point how you will accomplish your gap in your current work flow. It refers to the
strategic goal. Initially need to generate in an gap between present state and a desired state.
individual’s then activating needs and Most of the need are learned. Therefore, your
providing need satisfaction environment need pattern may change over the period of
which leads to engagement in work behaviour. time. Based on the assessment of your, you
should look for a job. Each of the above
statement correspond to particular need which

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results into achievement, Affiliation, essential for survival. Secondary needs are not
Aggression, Autonomy, Exhibition, natural but are learned by the individual
Impulsivity, Nurturance, Order, power and through his experience and interaction. Hence
understanding. these are also called learned or derived needs.
Emergence of these needs depend on learning.
In this study I have assess the factor like This is the reason why need pattern are
aspire to accomplish difficult task, maintain different in child and a matured individual.
high standards; and am willing to work There may be different type of secondary
towards distant goal; enjoy being with friends needs like need for power, achievement,
and people in general and accept people status, affiliation etc. General need is falling
readily; easily annoyed and some time; I am in between gay area of primary and secondary
willing to hurt people to set my way ;try to need. There are certain such needs like need
break from restrains or restriction of any kind; for competence, curiosity, manipulation and
want to be centre of attention and enjoy affection. Goal directed behaviour leads to
having an audience; speak freely and tends to goal fulfilment and the individual succeeds in
act on spur of the moment; assist other fulfilling his needs and thereby overcoming
whenever possible, giving sympathy and his tension in the favourable environment. If
comport those in need ; believe in the saying the need is not satisfied even after the goal
that “there is place for everything and directed behaviour, the person may feel
everything should be in its place; express my frustration which can be defined here as the
opinions forcefully, enjoy the role of leader accumulation of tension because of non-
and try to control my environment as much as fulfilment of needs. A more common reaction
I can; want to understand many areas of to frustration is aggression an act against
knowledge and values synthesising ideas and someone or something.
generation. These factors are very relevant to
need assessment. L. M.Prasad (2008) McClelland has defined
three types of basic motivating needs as need
II-Aim or need of the Study for power, need for affiliation and need for
achievement. The ability to induce or
This study determines the assessment of need influence behaviour is power. Since people
in and around the Chandrapur city. How the are social animals, most individual like to
components of need over the period of time interact and be with other in situations where
could be change. How the people look they feel they belong and are accepted.
forward for a job matches with your need
patterns. L. M.Prasad (2008) Alderfer has conceived
Growth, Relatedness and Existence (ERG)
III-Review of literature needs along a continuum which avoids the
implication that the higher up an individual is
L.M. Prasad, (2008), There are may needs in the need hierarchy According to this theory,
which an individual may have and there is different types of needs operate
various way in which these needs may be simultaneously. If individuals’ particular path
classified. It grouped into three category towards satisfaction is blocked, he may persist
Primary need secondary need and general along that path but at the same time, he
needs. primary needs are also known as regresses towards more easily satisfiable
physiological, biological or unlearned needs. needs. In this way, Alderfer distinguishes
primary need is animal drive which are between chronic needs which persist over a

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period of time and the episode needs which H5= Want to be centre of attention and enjoy
are situational and can change according to having an audience have significant relation
the environment. with Age.
H6 = Speak freely and tends to act on spur of
Nurturance, or taking care of other people, is the moment have significant relation with Age.
also important for psychological well-being. H7 = Assist other whenever possible, giving
Humans also have a need for succorance, sympathy and comport those in need have
which means being helped or protected by significant relation with Age.
others. Murray also suggested playing and H8 = Believe in the saying that “there is place
having fun with other people was also a for everything and everything should be in its
critical affection need. place have significance with Age.
H9 = Express my opinions forcefully, enjoy
Impulsivity is the tendency to act without the role of leader and try to control my
thinking. Impulsive actions reflect the environment as much as I can have significant
simplest and biologically most general form relation with Age.
in which emotions can cause action, since H10 = Want to understand many areas of
they require no reflection, no foresight, and knowledge and values synthesising ideas and
no planning. Procrastination – an irrational generation have significant relation with Age.
delay of intended actions despite expecting to
be worse off for the delay (cf. Steel, 2007). V-Research Methodology

It means feeling psychologically free and The type of research used in this article is of
having the ability to control your life. In short, descriptive nature. Through this descriptive
autonomy is all about having a choice and a research, the article bought to determine the
voice. It fulfils an innate need to feel that we answer to questions from students and
are acting of our own volition, allowing us to working professional from different sectors
fully accept the consequences of our actions. from in and around Chandrapur city in the
state of Maharashtra in India and their
IV-Hypothesis Development expected primary data was collected through
online survey for analysis and secondary data
Based on the research question following was be used as supportive tools. The total 75
hypothesis has been developed for the study- sample size considered to be adequate for my
H1 = Aspire to accomplish difficult task, study. Each and every response is checked
maintain high standards; and am willing to thoroughly for incomplete and missing
work towards distant goal have significant responses. The questionnaire has two parts
relation with Age. wherein first part contains demographic
H2= Enjoy being with friends and people in information. Table 11 gives all the
general and accept people readily have information related to demographic part. The
significant relation with Age. second part consist of 10 independent variable
H3= Easily annoyed and some time; I am which are the components of need assessment
willing to hurt people to set my way have over the constant /dependant variable age
significant relation with Age. factor. In this study the independent variable
H4= Try to break from restrains or restriction are aspire to accomplish difficult task,
of any kind; have significant relation with maintain high standards; and am willing to
Age. work towards distant goal; enjoy being with
friends and people in general and accept

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people readily; easily annoyed and some time; b) Secondary Data Analysis
I am willing to hurt people to set my way ;try The reliability analysis is commonly used to
to break from restrains or restriction of any identify the internal consistency of the
kind; want to be centre of attention and enjoy variable .However Cronbach’s Alpha is
having an audience; speak freely and tends to commonly used to test the reliability and
act on spur of the moment; assist other range of alpha coefficient is in between 0 to
whenever possible, giving sympathy and 1 .The higher value indicates the more
comport those in need ; believe in the saying reliability (Hair et al 1992).A value more than
that “there is place for everything and 0.070 is significantly good measure for
everything should be in its place; express my sufficient scale of reliability
opinions forcefully, enjoy the role of leader ( Cronbanch,1951,Nunnally,1987) .According
and try to control my environment as much as to the Cronbach alpha test the value of alpha
I can; want to understand many areas of is found to be 0.812 which is more than
knowledge and values synthesising ideas and minimum acceptable value. Therefore 81.20%
generation.. A five-point Likert scale (1= Not of data are reliable in this study. This reliable
descriptive to you to 5= Very descriptive to analysis has been applied to dependent and all
you) was used to collect data from the independent variable to draw satisfactory
respondents. The questionnaire was framed in conclusion. This reliability test consists of 10
English language. Reliability analysis was items based on this hypothesis were made.
done to verify reliability of my study. Beside The mean score of components of need
this correlation and regression analysis, assessment with standard deviation also
hypothesis testing was done for proper shown in the table-13. The Correlation and
justification and draw an appropriate Regression analysis has been done to consider
recommendation in this study. The data were the factors of need assessment and Hypothesis
analysis using SPSS version 20. testing with coefficient result shown in Table-
17
VI-Data Analysis and findings I) Hypothesis Testing
The first hypothesis H1 Aspire to accomplish
a) Demographic Data Analysis difficult task maintain high standards; and am
This study contains 57.33% male and 42.67% willing to work towards distance goal.
female respondents (Table-1). Among this According to analysis the significance value
respondent 60% was in the age group of 21- for the is 0.435 which is greater than the
30;13.33 % respondents are in age group of significance at α=0.05. Hence null hypothesis
31-40 and 25.33% respondents are in the age is accepted. There is no significant relation
group of 41 and above between age and need for achievement. There
is age for achievement of an individual. It
depends upon inner will power of a person to
achieve there goals in life. (Table -1 and
Table-17)

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Table-1-Correlations
AGE Aspire to accomplish difficult tasks,
maintain high standards, and am
willing to work towards distant goals.
Pearson
1 -.036
Correlation
AGE
Sig. (2-
.760
tailed)
N 75 75
Pearson
Aspire to accomplish -.036 1
Correlation
difficult tasks, maintain high
Sig. (2-
standards, and am willing to .760
tailed)
work towards distant goals.
N 75 75

Second hypothesis H2 Enjoy being with friends and people in general and accept people readily
have significant relation with age. According to analysis the significance value is 0.781 which is
greater than significance level at α=0.05. Hence null hypothesis is accepted. There is no
significant relation between age and need for affiliation. This analysis conclude that age factor
doesn’t matter to involve in friends in general. Friendship is a mutual understanding and
matching of attitude and behaviour accordingly people will accept each other. (Table-17 and
table-02)
Table-02-Correlations

AGE Enjoy being with friends and

people in general and accept
people readily.

Pearson
1 -.016
Correlation
AGE
Sig. (2-tailed) .889
N 75 75
Pearson
Enjoy being with friends and -.016 1
Correlation
people in general and accept
Sig. (2-tailed) .889
people readily.
N 75 75

Third hypothesis H3 Easily annoyed and some time willing to hurt people to set my way have
significant relation with age. According to analysis the significance value is 0.821 which is
greater than the level of significance at α=0.05. Hence null hypothesis is accepted. There is no
relation between age and need aggression. This analysis conclude that some people are very keen
to their goal and for that they are very aggressively work hard irrespective of their age. This

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

people don’t matter to hurt people while reaching to goals. Only one agenda to get the things
done either hook or crook. (Table-17 and Table-03)

Table-3-Correlations

AGE Easily annoyed and sometimes I

am willing to hurt people to get
my way.
Pearson
1 -.037
Correlation
AGE
Sig. (2-tailed) .753
N 75 75
Pearson
Easily annoyed and sometimes I Correlation -.037 1
am willing to hurt people to get
Sig. (2-tailed) .753
my way.
N 75 75

Fourth hypothesis H4 Try to break from restrain or restriction of any kind have significance
relation with age. According to analysis the significance value is 0.237 which is greater than
the level of significance at α=0.05. Hence null hypothesis is accepted. There is no significant
relation between age and need for autonomy. This analysis concludes that when people are
working in organisation, they need to do the work independently without any pressure. They
don’t want any restriction for doing their work. These people need autonomy at workplace.
(Table-17 and Table-04)

Table-4-Correlations
AGE Try to break from
restraints, or restriction of
any kind.
Pearson Correlation 1 .081
AGE Sig. (2-tailed) .490
N 75 75
Pearson Correlation .081 1
Try to break from restraints, or
restriction of any kind. Sig. (2-tailed) .490
N 75 75

Fifth hypothesis H5 Want to be centre of attention and enjoy having an audience have
significance relation with age. According to analysis significance value is 0.215 which is greater
than level of significance at α=0.05. Hence null hypothesis is accepted. There is no significant
relation between age and need for exhibition. This analysis concludes that every people having
some ambitions and they are trying to work accordingly and they highlighted themselves and
enjoy being a leader and centre of attraction. These try to exhibit their quality in front of people.

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Doing such kind of work there is no criteria of age. Every person having freedom of exhibition to
show their expression. It may be adolescent, Adult or old age. (Table-17 and Table-05)
Table-5-Correlations

AG Want to be centre of attention and enjoy

E having an audience.

Pearson
1 -.151
Correlation
AGE
Sig. (2-tailed) .195
N 75 75
-
Pearson
.15 1
Want to be centre of Correlation
1
attention and enjoy having an .19
audience. Sig. (2-tailed)
5
N 75 75

Sixth hypothesis H6 Speak freely and tend to act on the spur of the moment. According to
analysis the significance value is 0.985 which is greater than level of significance at α=0.05.
Hence null hypothesis is accepted and alternate hypothesis is rejected. There is no significant
relation between age and need for impulsivity. Some people are very actionable likely to act
suddenly and without thinking or without careful thought. These people having presence of
mind. It is good quality if it acts for good work irrespective of age barrier. People can respond
for any good cause. (Table 18 and Table-06)

Table-6-Correlations
AGE Speak freely and tend to act
on the spur of the moment

Pearson
1 .001
Correlation
AGE
Sig. (2-tailed) .991
N 75 75
Pearson
.001 1
Speak freely and tend to act on the Correlation
spur of the moment Sig. (2-tailed) .991
N 75 75

Seventh hypothesis H7 assist whenever possible giving sympathy and comport to those need.
According to analysis the significance value is 0.689 which is greater than the level of
significance at α=0.05. Hence H7 is rejected and null hypothesis is accepted. There is no
significant difference between age and need for nurturance. This analysis concludes that to help
each other and assist in work is a good nurturance of behaviour and attitude. It shows your good

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

quality of social work .For doing such work there is no restriction of age. (Table-19 and Table
07).
Table-07-Correlations

AGE Assist others whenever possible,

giving sympathy and comfort to
those in need
Pearson
1 .068
Correlation
AGE Sig. (2-
.565
tailed)
N 75 75
Pearson
.068 1
Assist others whenever Correlation
possible, giving sympathy and Sig. (2-
.565
comfort to those in need tailed)
N 75 75

Eight hypotheses H8 Believe in saying that “there is a place for everything and everything
should be in its place”. According to analysis the significance value is o.548 which is greater
than the level of significance at α=0.05. Hence H8 is rejected and null hypothesis is accepted.
There is no significance relation between age and need for order. (Table-17 and Table-8)

Table-8-Correlations
AGE Believe in the saying that there is
a place for everything and
everything should be in its place.
Pearson
1 .075
Correlation
AGE
Sig. (2-tailed) .520
N 75 75
Believe in the saying that Pearson .075 1
there is a place for Correlation
everything should be in its Sig. (2-tailed) .520
place. N 75 75
Hypothesis nineth H9 Express my opinion forcefully enjoy the role of leader and try to
control my environment as much as I can. According to analysis the significance value is
0.234 which is greater than level of significance at α=0.05. Hence hull hypothesis is
accepted and alternate hypothesis is rejected. There is no significant relation between age
and need for power. This analysis concludes that when person access the power, he
ordered the subordinates and get the things done from the people to accomplish his work.
There are no age criteria to control the power. (Table-18 and Table-9)

Table-9-Correlations

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AGE Express my opinions forcefully,

enjoy the role of leader, and try
to control my environment as
much as I can.
Pearson
1 -.129
Correlation
AGE
Sig. (2-tailed) .271
N 75 75
Express my opinions Pearson
-.129 1
forcefully, enjoy the Correlation
role of leader, and try Sig. (2-tailed) .271
to control my
environment as much N 75 75
as I can.

Hypothesis tenth H10 Want to understand many areas of knowledge and value synthesising ideas
and generalisation. According to analysis the significance value is 0.527 which is greater than the
level of significance at α=0.05. Hence alternate hypothesis is rejected and null hypothesis is
accepted. Hence there is no significance relation between age and need for understanding. This
analysis concludes that there is no age for acquiring knowledge. People should always ready to
change with the change. It is possible only when people having good understanding and
knowledge about the situation. Those acquire good knowledge can create values, able to generate
good ideas and think positively for betterment of need. (Table-19 and Table-10)
Table-10-Correlations
AGE Want to understand many areas of
knowledge and value synthesizing ideas
and generalization.
Pearson
1 .044
Correlation
AGE
Sig. (2-tailed) .706
N 75 75
Want to understand Pearson
.044 1
many areas of Correlation
knowledge and value Sig. (2-tailed) .706
synthesizing ideas and
generalization. N 75 75

II) Regression analysis

From the table -15 of regression Analysis the value of R2 is 0.095 means 9% variability found in
assessment of need in and around Chandrapur City in the state of Maharashtra in India. In this
case age is dependant variable and other component of need are independent variable.

From the ANOVA table-16 it is observed that the significance value is 0.745. This prove that the
model is valid and insignificant. There is no relation between age and other component of need

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

which are consider for need assessment. Need can be generated at any age and what kind of need
is generate, it depends upon the situation. There should be some motive which stimulate for
motivating the need and accordingly an individual is engaged in work behaviour.

V-Limitations
This study has some limitations. The data has been collected through online questionnaire and
the topic may not be understood properly because of the complexity of the psychological terms.
In the ANONA table the R2 value is very low this represents that other component may taken
into consideration for need assessment. This study is totally depended upon the respondents
understanding to the questionnaire.

VI-Conclusion and recommendations

This research study tried to examine the relation between age and components of need
assessment like aspire to accomplish difficult task, maintain high standards; and am willing to
work towards distant goal; enjoy being with friends and people in general and accept people
readily; easily annoyed and some time; I am willing to hurt people to set my way ;try to break
from restrains or restriction of any kind; want to be centre of attention and enjoy having an
audience; speak freely and tends to act on spur of the moment; assist other whenever possible,
giving sympathy and comport those in need ; believe in the saying that “there is place for
everything and everything should be in its place; express my opinions forcefully, enjoy the role
of leader and try to control my environment as much as I can; want to understand many areas of
knowledge and values synthesising ideas and generation. The outcome of the research indicate
that there is no relation between age and factors which are consider for need assessment.

From the finding it can be suggested that while assessing the need pattern on the above
statements you should keep in mind that most of the needs can be learned. Therefore, your need
pattern may change over the period of time. Bases on the assessment of your need pattern, you
should look for a job which matches with your need patterns.

XI-References
Books: Humanities and social Sciences
1. Robbins, S.P. Organisational (IJHSS), Vol.6, Issue 1, Dec-Jan
behaviour: Concepts, Controversies, 2017;25-32
and applications, Prentice-Hall, 2. Tom Reynolds, Graham Thornicroft,
Englewood Cliffs. Melanie Abas, BOB Woods, Juanita
2. L. M. Prasad, Organisational HOE, Morven Leese and martin Orrell;
Behaviour, Sultan Chand & Sons Camber well Assessment of Need for
(2008) the Elderly British Journal of
3. Casio, W.F.(1998), Managing Human Psychiatry (2000),176, 444-452
Resources: productivity, Quality of 3. Mr. Nurul Haque; A brief study on
Work life, Profits, Irwin: McGraw- need analysis; Express, an
Hill, Boston, MA International Journal of Multi-
Journals: Disciplinary Research, Vol 1,issue 1,
1. Jollie N. Alson, Assessment of student January 2014
Need; International Journal of

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 Table 11-Demographic profile of Respondents

Gender % Age in Years % Position %

Male-43 57.33 21-30 60 Students 32

Working
Female-32 42.67 31-40 13.33 68
Professional
41 and above 25.33

Total 100 100 100

Reliability Statistics (Table-12)

Cronbach's Alpha Cronbach's Alpha Based on N of
Standardized Items Items

.808 .812 10

Mean Scores of the Factors of Need Assessment (Table-13)

Item Statistics
Mean Std. N
Deviati
on
Aspire to accomplish difficult tasks, maintain high standards,
3.79 1.369 75
and am willing to work towards distant goals.
Enjoy being with friends and people in general and accept
3.64 1.439 75
people readily.
Easily annoyed and sometimes I am willing to hurt people to
2.40 1.507 75
get my way.
Try to break from restraints, or restriction of any kind. 2.93 1.298 75
Want to be centre of attention and enjoy having an audience. 2.84 1.395 75
Speak freely and tend to act on the spur of the moment 3.37 1.333 75
Assist others whenever possible, giving sympathy and comfort
3.92 1.353 75
to those in need
Believe in the saying that there is a place for everything should
be in its place. 3.73 1.359 75

Express my opinions forcefully, enjoy the role of leader, and

3.01 1.428 75
try to control my environment as much as I can.

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

Want to understand many areas of knowledge and value

3.83 1.474 75
synthesizing ideas and generalization.

Summary Item Statistics (Table-14)

Mean Minimu Maximu Range Maximum / Varian N of

m m Minimum ce Items

Item Means 3.347 2.400 3.920 1.520 1.633 .269 10

Regression Analysis (Table-15)

Model Summary
Model R R Square Adjusted R Std. Error of the
Square Estimate
1 .309a .095 -.046 10.912

a. Predictors: (Constant), Want to understand many areas of knowledge and value

synthesizing ideas and generalization., Try to break from restraints, or restriction of any
kind., Express my opinions forcefully, enjoy the role of leader, and try to control my
environment as much as I can., Want to be centre of attention and enjoy having an
audience., Speak freely and tend to act on the spur of the moment, Easily annoyed and
sometimes I am willing to hurt people to get my way., Enjoy being with friends and
people in general and accept people readily., Believe in the saying that there is a place
for everything should be in its place., Aspire to accomplish difficult tasks, maintain high
standards, and am willing to work towards distant goals., Assist others whenever
possible, giving sympathy and comfort to those in need.
ANOVA(Table-16)
b.

Model Sum of df Mean F Sig.

Squares Square
Regression 801.749 10 80.175 .673 .745b
1 Residual 7620.251 64 119.066
Total 8422.000 74

a. Dependent Variable: AGE

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

b. Predictors: (Constant), Want to understand many areas of knowledge and value synthesizing
ideas and generalization., Try to break from restraints, or restriction of any kind., Express my
opinions forcefully, enjoy the role of leader, and try to control my environment as much as I can.,
Want to be centre of attention and enjoy having an audience., Speak freely and tend to act on the
spur of the moment, Easily annoyed and sometimes I am willing to hurt people to get my way.,
Enjoy being with friends and people in general and accept people readily., Believe in the saying
that there is a place for everything should be in its place., Aspire to accomplish difficult tasks,
maintain high standards, and am willing to work towards distant goals., Assist others whenever
possible, giving sympathy and comfort to those in need.

Hypothesis Testing (Table-17)

Coefficient (a)
Unstandardized Standardize
Model Coefficients d t Sig.
Coefficients
B Std. Error Beta
30.71
(Constant) 5.763 .000 5.329 .000
3
Aspire to accomplish difficult tasks,
maintain high standards, and am -
1.753 .435 -.785 .435
willing to work towards distant 1.376
goals.
Enjoy being with friends and people
-.388 1.386 .781 -.280 .781
in general and accept people readily.
Easily annoyed and sometimes I am
willing to hurt people to get my -.262 1.152 .821 -.227 .821
way.
Try to break from restraints, or
1.382 1.159 .237 1.193 .237
restriction of any kind.
1 Want to be centre of attention and -
1.102 .215 -1.253 .215
enjoy having an audience. 1.381
Speak freely and tend to act on the
.024 1.270 .985 .019 .985
spur of the moment
Assist others whenever possible,
giving sympathy and comfort to .746 1.916 .698 .390 .698
those in need
Believe in the saying that there is a 1.605
place for everything should be in its .969 .548 .604 .548
place.
Express my opinions forcefully,
enjoy the role of leader, and try to -
1.075 .236 -1.197 .236
control my environment as much as 1.287
I can.

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 MTC Global Journal of Management & Entrepreneurship, Vol-10 , Issue- 21, Apr- Jun 2024, ISSN: 2231 - 3710

Want to understand many areas of

knowledge and value synthesizing 1.269 1.993 .527 .637 .527
ideas and generalization.

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