Browsing by Author "Verma, Jainendra Kumar"

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    Barriers and potential solutions for MSMEs in developing economies: Evidence from India
    (LLC CPC Business Perspectives, 2021-12-02T00:00:00) Prakash, Bishwajeet; Kumar, Indrajit; Verma, Jainendra Kumar
    Micro, small and medium enterprises (MSMEs) have emerged as an accelerator of economic growth with a sizeable contribution in job creation, innovation development, and reduction of regional disparities in most world economies. This paper investigates the influence of external and internal factors affecting the growth of MSMEs in poor-performing Bihar state, India. The objective of the study is to identify the major deep-rooted causes for the inability of MSMEs to compete in developing states and identify potential solutions. The study is based on an empirical database; it tested various dimensions of MSMEs barriers in their potential growth. The target group included MSMEs of Bihar state, India, using a sample of 450 entrepreneurs. The paper adopted a multistage stage sampling and multivariate analysis technique. The results showed that there are twelve major potential barriers, both endogenous and exogenous, faced by MSMEs, such as availability of raw materials, financial issues, labor force challenges, technology inefficiency, power/electricity scarcity, poor marketing, competition, knowledge-related challenges, government and administration problems, infrastructure inefficiency, etc. The findings show that these barriers affect the promotion and growth of MSMEs in developing regions. In future, it is suggested to focus on the implementation of good governance that helps to remove effectively the major barriers of MSMEs in underdeveloped states, such as Bihar, India. � Bishwajeet Prakash, Indrajit Kumar, Jainendra Kumar Verma, 2021
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    CUSTOMER RELATIONSHIP MANAGEMENT (CRM) IN THE PUBLIC AND PRIVATE SECTOR BANKS IN BIHAR: A COMPARATIVE STUDY
    (Conscientia Beam, 2021-12-27T00:00:00) Kumar, Indrajit; Shome, Mihir Kumar; Verma, Jainendra Kumar; Kumar, Arun
    Customer relationship management (CRM) plays a crucial role in any organization because success or failure depends on a company�s relationship with its customers. The objective of this study is to see how CRM can play an important role in the public and private sector banks in Bihar, India. The sample for the study consists of 250 bank managers from both public and private sector banks in Bihar. A CRM questionnaire developed by the researchers was used to measure CRM in the banking sector. Data were analyzed using SPSS software. Inferential statistics including t-test and analysis of variance (ANOVA) were used to analyze the data. The t-test results show that both the public and private sector banks differ significantly in the variables of customer contact by phone/e-mail, customer care, and innovation and quality. The ANOVA results showed that the four groups (public sector males, public sector females, private sector males, and private sector females) differed significantly in the eight variables (commitment; citizenship behavior; customer contact by phone/e-mail; planning; improved retention & better targeting of new customers; top management support; innovation and quality; and technological readiness. � 2021 Conscientia Beam. All Rights Reserved.
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    “Industrial Sickness in Micro, Small and Medium Enterprises in Bihar, India”
    (Central University of Punjab, 2020) Prakash, Bishwajeet; Verma, Jainendra Kumar
    The research entitled „Industrial sickness in Micro, Small and Medium Enterprises (MSMEs) in Bihar, India‟ is an empirical study for various dimensions of industrial sickness in the state Bihar. The study investigates the magnitude of the financial distress among the MSMEs in the state, as well find out the major causes for the industrial sickness in MSMEs. The study has also included the significant remedial measure as revival for the sick enterprises in the state. MSMEs played a significant role in creation of new jobs, help in increasing Gross Domestic Product (GDP), entrepreneurship, and innovation; this sector emerged as vibrant key drivers for the Indian economy. In India, MSMEs contribute 40% in total GDP and provide second largest employment after agriculture. MSMEs faces huge number of challenges and problems, which lead to a business, became sick or failure in due course. Industrial sickness is universal phenomena and spread in all type of industries all over the world. It adversely affects the health of industrial sector as well economy. This study covers the problems, causes, and prediction of industrial sickness among the various Micro small and medium industries in Bihar. The study is based on the perception of entrepreneurs and financial statement of the enterprises. Major objectives of this research are to study the growth and performance of MSMEs in Bihar, problems faced by entrepreneurs at all the stages of units, source of funding, causes of industrial sickness include internal and external factors responsible for sickness, predict the v industrial sickness in industries, remedial measure to fostering entrepreneurs, and suggest suitable policies to reduce the effect of industrial sickness in the economy. The study is based on primary and secondary database. In primary data of 450 enterprises has been collected from 9 representative districts of Bihar, with including of all types of forms (Sole Proprietorship, Partnership, Private Limited Companies etc) and kinds (Services, Manufacturing) of business took part in the study. A pre-tested well designed schedule has been used for the collection of primary data from enterprises. The secondary data and financial statement of enterprises has been taken through various agencies‟ websites. The responses of the participants were analyzed by using the statistical package for social sciences (SPSS), which generated the frequency distributions, means, standard deviations, variances, chi-square statistics, analyses of variance (ANOVA), t-statistics, and factor Analysis of the responses. In order to identify the fore warning indicators of industrial sickness in small and medium enterprise, Altman Model is used. The hypothesis of the result has been tested at 0.05 level of significance. The study has resulted that 27 most important factors are responsible for the industrial sickness in the state. The research may be beneficial to all concern especially researcher, academicians and policy makers to understand the magnitude of industrial sickness, its prediction and taking remedial measure