Monthly Archives: August 2015

Management Research: Self Efficacy in Relations to Perceived Organizational Climate Among Virtual Workers of Different Organisations

Abstract from the subject study.

Objective 

Contemporary competitive demands and advancement in technology and globalization have changed today’s work place scenario. A growing number of organizations have explored virtual environment as means of achieving increased responsiveness. This virtual work scenario where workers don’t meet face to face is definitely changing the organization’s structure, perceptions and expectations of workers. The changed work environment has its effect on self efficacy of virtual workers. This study tries to explore the relationship between Perceived Organizational climate and Self Efficacy in virtual workers.

Research Methodology 

The sample consisted of 100 virtual workers working in different organizations in India. A correlational research design was employed. Data were collected through using questionnaire tool of Chattopadhaye and Aggarwal’s Organizational Climate Inventory and Schwarzer & Born’s Generalized Perceived Self Efficacy Scale.

Conclusion

The results of correlation indicated that self efficacy and perceived organizational climate and its dimensions: Identity Problem, Social support and Warmth are negatively correlated among virtual workers.

Birdie, A. & Jain, M. (2014) “Self Efficacy in Relation to Perceived organizational climate among virtual workers of different organizations”, 1st International and 3rd Indian Psychological Science Congress, “Psychological Well Being: The Looming Crisis in Humanity” organized by National Association of Psychological Science from Feb 24-25, 2014, Chandigarh

 

Research: Innovation Management

Abstract from the subject book authored by Professors at Vedatya. 

Innovation Management is a comprehensive textbook designed to meet the needs of postgraduate management students . The book aims to capture the essence of innovation in the dynamics business environment.

The foundation of all successful companies has been the practice of innovation. This book is universal in its approach and integrates both macro and micro perspectives of innovation, especially from the context of emerging economies. It provides a unique treatment of continuity and change as a dynamic process of evolution in managing innovation . It also deploys a multidisciplinary approach combining knowledge and experience of the authors in the domains of knowledge management, technology management, strategy, and entrepreneurship.

Besides students, the book will also be a useful tool for practitioners, consultants, entrepreneurship, and policy makers.

Key Features

  • Provides a holistic framework for innovation integrating contexts of developed and developing economies
  • Links the concepts of innovation to the socio-economic environment and demonstrates the paradigms across various geographical regions
  • Includes unique topics such as corporate entrepreneurship, open innovation approach, role of venture capital, and industry- academia partnership
  • Discusses innovation practices of firms such as procter and gamble, Apple, Samsung, Nokia, ITC, Marriot, and Reliance
  • Includes numerous cases of companies such as Google, Facebook, Hewlett-Packard Open Labs, and McDonald’s

About the Authors 

Vinnie Jauhari is Ex. Director, Vedatya Institute (formerly IIMT), Gurgaon. She has over 14 years of academic experience and was earlier Region Lead of HP Labs Open Innovation Office for India. Dr. Jauhari obtained her Phd in corporate entrepreneurship from IIT Delhi and is a postdoctoral fellow from United Nations University, Tokyo. She specializes in the areas of services, technology management, and strategy. She has authored/co-authored over 150 papers that have been published in leading national and international journals.

Sudhanshu Bhushan is a Professor at Vedatya Institute (formerly IIMT), Gurgaon. He is also Director, Convergence Management Advisors, Gurgaon. He is Ex Vice Chancellor of Sri Venkateshwar University. Earlier, he was Associate Dean, GD Goenka World Institute; and Founder Director, J. K. Padampat Singhania Institute of Management and Technology, Gurgaon. Dr. Bhushan completed his PhD from Boston University, USA, and has an extensive teaching and corporate experience in USA and Europe. He was an economist with FICCI and and advisor for development programmes at ADB, Manila. He has authored papers in various area of retail, services, hospitality, and economics.

 

Management Research: From Chaos to Serenity – The Divine Perspective on Management

Abstract from the subject book authored by Professors at Vedatya. 

From Chaos to Serenity The Divine Perspective on Management,” intends to redefine paradigms of Business Management incorporating spiritual and philosophical dimensions of life and deeper understanding of human existence from wisdom of ancient cultures of the world. It is an attempt to provide a new perspective – ‘The spiritual/divine perspective’ to modern day business. Ancient wisdom from Upanishads, Bhagvad Gita, Lao Tzu, Confucius, Buddha, Heracalitus, Plato and Aristotle has been incorporated in modern concept by scientific rational humanism in this Divine Perspective. Modern day business in management of chaos which leads to stress and burnouts. Both business ideology and business character would and should undergo major change – “A Transformation from Chaos to Serenity.” The magical alchemy for this transformation will emerge from a unique blend of –

  1. The culture of Discipline and
  2. The Entrepreneurial Ethics.

These two can only be incorporated by invoking spiritual dimensions in human life. For spirituality is the real essence of human existence. Business can only move towards sanity and serenity. If Divinity – the real power of human existence and Cosmic Consciousness is involved in management of human affairs. Divinity operates on the principle- Everything is god. Everywhere is God, see God in every slef and you will learn the Art of Management.

The book gives insights on new work ethos and management through underpinnings from ancient cultures of the world. How divinity can be incorporated in management? When will it be incorporated in Business? The book provides insights on how Divinity could be incorporated in modern day business to usher in much needed serenity in the minds of the people and world at large by transforming the most powerful institution of modern day world – The Business.

Management concepts on motivation, leadership, organizational dynamics, organizational behaviour, work ethos, Knowledge management strategy, entrepreneurship, business excellence etc. have been redefined in the light of this Divine perspective . The Ethics of Business Management, authors believe would provide the Real Sustainable Business Excellence in simple terms for Business Excellence to the sustainable, the model and philosophy has to be rooted in Values and Ethics which are to be derived from wisdom of ancient philosophy and cultures of the world – that would lead us from chaos to serenity- through the operation of divine perspective.

About the Authors 

Sudhanshu Bhushan is Professor at Vedatya Institute (formerly IIMT), Gurgaon. He is also Director, Convergence Management Advisors, Gurgaon. He is Ex Vice Chancellor of Sri Venkateshwar University. Earlier, he was Associate Dean, GD Goenka World Institute; and Founder Director, J. K. Padampat Singhania Institute of Management and Technology, Gurgaon. Dr. Bhushan completed his PhD from Boston University, USA, and has an extensive teaching and corporate experience in USA and Europe. He was an economist with FICCI and and advisor for development programmes at ADB, Manila. He has authored papers in various area of retail. Services, hospitality, and economics. A gold medalist in management education, he is widely travelled around the world with mixed experience . He is a mystic, poet, philosopher, management consultant, and academician in right earnest. Sudhanshu has published many papers in diverse subjects ranging from economics, globalization, risk- management, ethics, leadership, retail, and hospitality. He is also advisor and facilitator for management ethics programs with many NGOs and corporate businesses. He is developing programs in motivation, leadership, organizational behaviour etc. based on rich cultural heritage of India and other Asian cultures. Sudhanshu is a thought leader on alchemy of western management concepts and oriental thought, leading to management transformation, which is blend of culture of self and organizational discipline and business ethics. He spends his leisure time meditating and praying that Divinity /Spirituality be ushered in management of all human activity on this mother earth for a brighter and stress free world.

Vinnie Jauhari, Ex. Director, Vedatya Institute (formerly IIMT), Gurgaon. She has been very passionate about her work. She has completed M.Sc. (Hons.) in Electronics from Punjab University, Chandigarh and MBA (Gold Medalist) (Marketing). She received her Ph.D. on corporate Entrepreneurship from Indian Institute of  Technology, Delhi and her Post-Doc from the United Nations University, Tokyo in the area of Technology and Society. Dr Jauhari is the Region Lead for India at Open Innovation Office, HP Labs at Hewlett-Packard Corporation. She is also currently Adjunct Professor and earlier the Head of the school of Management and Entrepreneurship at Institute for International Management  and Technology (collaboration with Oxford Brookes University). She is also the founding editor of the Journal of services Research (features in EBSCO and PROQUEST databases). She has over hundred publications in National and International Journals and has also authored several books such as Business strategy, Services Management, Readings in Services Management, and Global cases studies on Hospitality Industry. She is a reviewer for numerous international journals. Her areas of interests are Corporate Entrepreneurship, Sustainable Development and Technology issues, She is widely traveled and has been a speaker at numerous International Conferences. She is Involved with numerous international projects on Technology.

 

Research: An Unstructured Approach to RM in Railways – A Special Case of Premium Passengers Trains in India

Abstract from a research on the subject topic being undertaken by our faculty Anjana Singh and RevSmart Trainee Arvind Kaushal

Objective:

The Indian Railways has equal potential to implement revenue management practices to those found in Airlines, Hotels and Restaurants and so on. Unlike the airline industry, very little attention has been made in the area of prominence of revenue management in Indian Railways. The aim of this paper is to examine and critically reflect upon the revenue management opportunities in premium passenger trains in India.

Methodology/Approach:

The paper is based on qualitative research and will identify the current status of Indian Railways and International best practices around Railways Revenue Management based on extensive review of literature. The paper will also propose suggestions on various revenue mmanagement tools which can be applied in premium passenger trains for higher revenue.

Major findings:

This paper will attempt to present a view point to policy makers on strategies of Revenue Management that can be formulated for premium passenger trains in India. The paper will also explore and showcase best practices from other countries and will suggest customized changes under various sub heads. The findings will be placed in the framework of revenue optimization and will accentuate the need to implement in the business decisions.

Conclusion:

This paper will assert the success of revenue management in railways and can play an important role in boosting the revenue of Indian Railways.

Implication:

The practical implication of this study is to suggest strategies that Indian railways policy makers can adopt to overcome challenges and implement revenue Management effectively in premium passenger trains and make Revenue Management as “Responsible Railway Revenue Management”.

Research: Existence and Future of Rate Parity in Indian Hospitality Scenario

Abstract from a research on the subject topic being undertaken by our faculty Anjana Singh and Anmole Singh

Objective

There has been continuous debate in the revenue management discipline regarding the application of Rate Parity principle across various distribution channels. Off late the discussion, application and evaluation of the fore mentioned principle has been limited to the online distribution channels like OTAs and Direct websites. The aim of the paper is to examine and analyze consistency of Rate Parity applications on selected online and offline distribution channels of selected individual hotels and further analyze the viewpoints of business managers on the same.

Methodology/Approach

The paper will be based on data collected through a multi-method approach. Extensive literature review will be done to collect themed data. A primary research will be conducted to gather information for analysis of rate parity practices in online and offline channels. Further, to validate the analysis, interviews will be conducted where Business managers will be giving arguments on Rate Parity as a favorable practice for Hotel Revenue Managers

Major findings

This paper will attempt to present the existing role and impact of Rate parity as part of the Revenue Management practices in hotels, across online (OTAs and Hotel Website) and offline (sales representative and hotel reservation staff) distribution channels, in India. It will also shed light on the longevity of rate parity in the revenue management practices.

Conclusion

The paper looks forward to prove the existence of Rate Parity between online and offline channels and the forward path in the Indian Hospitality scenario.

Implication

The practical implication of this study is to suggest hotel operators, Owners and OTAs about the current scenario and future implications of rate parity and strategies they could adopt proactively to achieve their targeted goals and objectives.

Research: Push for F&B to Drive Revenue Growth in Indian Hotels

Abstract from the subject research paper authored by our faculty Debpriya De and Sandeep Munjal.

Introduction

F&B has always been seen as a value added proposition in the Indian Hotel Industry. It has been considered as one of the key factors of potential revenue growth model. The Indian Hotel industry has been on a growing trend since the late 90’s but there was always a debate whether the F&B is doing enough to generate handsome revenue for the hotels.

The times have changed over the past few years when Room revenue was considered to contribute a huge portion of the revenue. The trends are changing and the hotels have been able to develop F&B as one of the key drivers to earn revenue.

The purpose of this research is to study various aspects of F&B in the Indian Hotel Industry which can be seen as a potential revenue model for the growth of F&B Revenue. The “push” has been evaluated on the various parameters which are becoming a trend now days. As the paper evaluates the ‘Push’, it probes into the New methods that the hotels are adopting to seek higher revenue contribution from the F&B sector. The study will focus on how different segments of the hotel (Budgetary / Mid size / Luxury) have witnessed the changes made in Service Delivery models for increasing their revenues.

There has been mark change in the Process Shift and today the study reveals how Alcoholic Beverages have become an important tool which can give potential increment in F&B Revenues. The authors explores the aspects of Price Bundling in which Food & Beverages have been bundled with Rooms so as to give value return to the guests and thus shifting the focus of promoting only Rooms as a major revenue source.

One aspect which is becoming a trend today is the MICE concept which has encouraged hotels to adopt this as a major source of revenue. It will also probe that whether the MICE element is actually seen as a push for Revenue growth of F&B Department. The author tries to investigate the new Cuisine trends that are constantly being developed by hotels to seek changes in the food habits of consumers and to match them with the current trends.

The study tries to find out the aspects of In room Dining Facility in Revenue growth and what are the hotels currently pursuing in order to give a push for revenue growth. The hotels today have added Event as a portfolio and the author will try to assess the impact of events in the F&B Revenue growth.

The hotels have not only been able to see the F&B business as a revenue aspect but also have incorporated major changes in the outlook towards the staffing of F&B. It covers the HR aspects around the F&B department and studies how the staffing has been seen as potential tool to increase the revenue of F&B.

The challenges faced by the Indian Hotel industry in terms of the Government policies and infrastructure issues that can possibly become a hindrance for revenue growth aspects of F&B and the impact of the same on Guest Experience.

Methodology:

Mix of both Primary Research and Secondary research will be enveloped to show case the findings. The Primary Research will be done through Questionnaire and Round Table Conference. The secondary research will be done through e-journals, articles and hospitality magazines. The research will be qualitative and not quantitative.

Research Value & Implications:

It will give an insight about the current trends that have been playing a major role in the growth of F&B not only on the aspects of providing good food and beverage but also on how it is relatively becoming more conscious towards increasing the share in the total revenue earning sources of the Indian Hotel Industry. The new strategies and techniques that have been lately adopted by the Hotel chains in order to showcase F&B as one of the major revenue earners have also been considered. The research will also showcase the potential threat that the Indian Hotels can face from the standalone F&B outlets that have been growing over the past few decades. It also addresses the changes that the Indian Hotels have adopted in the HR aspects. as it will bring out that staffing is a key to generate good revenue from F&B. The challenges that are faced by the Indian Hotels in terms of F&B will also be a part of this research.

Target Audience:

Hospitality Professionals, students of Hospitality & Tourism Management programmes at undergrad and post grad level are the target audience for this research.

Research: Driving Value Through Pricing – Strategies Adopted by Managers in Price Sensitive and Fierce Competitive Markets

Abstract from a research paper authored by Anjana Singh, Associate Professor, for the book titled Creating Memorable Customer Experiences-Insights from Hospitality Sector

Hotel managers have always faced the challenge of how to use pricing strategies to achieve both revenue and customer satisfaction. The objective of this paper was to identify existing practices of price setting in hotels of National capital region and strategies adopted by managers in a price sensitive and fiercely competitive market. This information will enable us to analyze the thoughts and price pressures hotel managers go through in driving value for customers through pricing strategies and to make recommendations accordingly.

The chapter uses qualitative primary research through structured open ended interview to discuss in detail pricing strategies. The interviews will be conducted with senior management responsible for pricing decisions like revenue managers or General Managers from a spectrum of hotels in National Capital Region of India. It’s imperative for the hotels to understand the perceived customer value of the product or service in a global context and respond appropriately to change in the market conditions. This research has provided the understanding of the intentions of the hotels towards pricing strategies and the overall aim that is achieved through pricing. This makes this research quite valuable for academic researchers and practitioners to understand the factors that could be important for sustainable pricing strategy.

Introduction

Buffett told the Financial Crisis Inquiry Commission in an interview that “If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business”. Yet pricing has been a neglected area in many hospitality organizations. McKinsey and Company has estimated that fewer than 15% of the organizations have a dedicated function in pricing and fewer than 10% of the colleges teach pricing (Hinterhuber, 2004). Quite a few academicians have confirmed that pricing has been one of the neglected components as compared to other components of marketing mix (Avlonities and Indounas, 2006; Hoffman et al, 2002). Hotel room prices faces challenges of intangibility, perishability, fixed supply, administrative costs, brand image, customer relationship etc. making it more difficult, challenging and complex for revenue managers. In the focus of balancing all potentially differing objectives, room pricing may not get due attention but the financial impact may be enormous and destroying for the organization.

Research: Chasing Return on Investment – A Comparative Study of Budget and Luxury Segments of Hotel Businesses in India

Abstract from a research paper authored by Kuldeep Kumar, Associate Professor, and Anmole Singh, Assistant Professor, for the book titled Creating Memorable Customer Experiences-Insights from Hospitality Sector.

This chapter makes an effort to study the emergence and growth of budget and luxury segments of hotel business in India. The study explores potential of luxury and budget segments of hotel business in India. It makes a comparative analysis of profitability and operational performance between budget and luxury segments of hotel business. A sample of 20 hotels in each segment across the cities in India has been taken.

The data for the study have been collected for last five years beginning from 2010-11 to 2014-15. The data have been collected from published annual reports and other published reports related to hotels in India. Collected data have been processed and analyzed to extract information pertaining to the performance and growth of the Indian hotel industry based on different parameters. These parameters, such as hotel finances, marketing, source of revenues among others, are then presented under the different categories like class wise-budget and luxury hotel, Inventory-number of rooms in hotel and affiliation-affiliated to chain and independent, Markets-inclusion of major cities subject to the availability of data.

For better evaluation, the financial statements are analyzed and presented through Net Income, Average Room Rate, ROI, Occupancy level. Financial data would be presented as percentage of revenue which is an assessment of costs as a percentage of revenue, PAR-Amount per available room-financial performance of a single room and is based on total inventory; POR-Amount per occupied room which is the performance of a single occupied room.

Further, the study explores various challenges and opportunities before budgetary and luxury segments hotel businesses in India. Statistical tests like, t-test, and F-test have been performed to test the null hypothesis.

The null hypothesis is that, there is no significant difference in the operational and financial performance in terms of their mean ROI, PAT, PAR, POR between budget and luxury segments hotel business in India.

 

 


 

Research: Successful Operational Strategies of the Hotel Leading to Growth and Profitability

Abstract from a research paper authored by Anjana Singh, Associate Professor, for the book titled “Balancing Growth and Profitability- Case of Indian Hospitality Industry”.

In today’s competitive world, the management of five star hotels is being flexible and innovative in playing with new set of conventions and strategies to achieve edge and profits. The hotels, being huge and significant investments for both the investors and the national economy, need a long-term strategic planning and management so as to be successful. Improved customer service, better quality, operational effectiveness, bottom line profits and ability to engage with customers are more important to survive in this stiff competition.

The purpose of this paper is to explore and evaluate the business operational strategies contributing to the growth and profitability of the five star luxury hotels. The methodological approach includes economic assessment, as well as benchmarking and empirical analysis of luxury hotels operating in National Capital region of India. Interviews with managers at key positions will also be conducted for the identification of specific operational strate­gies contributed in hotel’s profitability. It is imperative to understand the intentions behind these operational strategies of the hotel and overall objectives that will be achieved through business strategies.