Creativity and Innovation in B-Schools: Potential Areas for Development

(1)

S

U

ME

D

H

A

J

O

U

R

N

A

L

O

F

M

A

N

A

G

EMEN

T

A

p

ri

l-J

u

n

e

2

0

1

9

CMR College of Engineering & Technology

About Sumedha Journal of Management

Submission of Articles

is Sponsored by MGR Educational Society, which has established in 2002. The College is situated on Hyderabad - Nagpur National Highway (Medchal Road), Andhra green and free of pollution. The college endeavors to impart Quality Technical Education and to meet the challenge imposed on, by being in tune with the fast changing Technology & Globalization.

Since 2006, Department of Master in Business Administration at CMR has been building individuals with the capability to think act and lead in an increasingly complex business world. CMR Strongly believes in the change that individuals can bring about in the world and in themselves, when empowered with the knowledge to analyze the world the confidence to act on their decisions and perseverance to lead others in pursuit of change. It provides a platform to building a strong society and nation.

aims at promoting and disseminating relevant, high quality research in the field of management. It is a double blind reviewed referred academic quarterly journal focuses on publishing scholarly articles from the areas of management, management principles, recent inventions in management, company management, financial management, human resources, accounting, marketing, operations management, human resource management, statistics, international business, information technology, environment, risk management, globalization and related areas. Asian journal of management research seeks original manuscripts that identify, extend, unify, test or apply scientific and multi-disciplinary knowledge concerned to the management field. The journal endeavors to provide forum for academicians, scholars and practitioners.

The following types of Papers are considered for publication: 1. Original research works in the above-mentioned fields.

2. Surveys, opinions, abstracts and essays related to Operations research.

3. Few review papers will be published if the author had done considerable work in that area. 4. Case studies related to management domain.

Authors are invited to submit their research articles, review papers, case studies in a properly formatted file as per the author guidelines to editor@cmrcetmba.in mentioning the name of the journal or through the submission.

V o lu m e 8 N u m b e r 2

Vol. 8 No. 2 April-June 2019

Referred Journal of CMR College of Engineering & Technology

ISSN (Online) : 2322-0449

UGC Approval Journal (Serial No: 46802)

A Model Proposition for Prescreening Candidates in Recruitment Process Using Fuzzy Vikor Method

Murat Bolelli

An UGC Autonomous Institution

(Approved by AICTE, permanently affiliated to JNTU, Hyderabad) (NAAC Accredited Institution with ‘A’ Grade)

ISSN (PRINT) : 2277-6753

Department of Master of Business Administration

An Integrated Marketing Communications, Media Synergies and its effect on the Consumer Decision Making Process Reshma Nikhat

Influence of Organizational Climate on Employee Turnover Intention in Information Technology Industry in Kerala Jnaneswar. K

Gayathri Ranjit

Impact of Transformational Leadership Style Dimensions on Organizational Performance: An Empirical Analysis Shruti Balhara

Harbhajan Bansal

Impact of Quality of Work Life on Organisational Commitment Indu Bala, Ramandeep Saini, B.B. Goyal

Mediating Role of Personal Accomplishment among Emotional Labour Strategies and Teaching Satisfaction among Professional College Teachers Jitha G. Nair

Testing of Long-Run Relationship between Gold Prices and Stock Market Return: An Empirical Analysis in India Tanvi Bhalala

Emerging Distribution Channel Effectiveness in Rural Jharkhand for Consumer Electronics

Punit Kumar Mishra Girish Kumar Srivastava

Changing Role of Learning and Development Methodologies Digital Age - A Comparison between Manufacturing and Service Industry S. Rajeswari, D.Raghunatha Reddy

M.Ramakrishna Reddy

Creativity and Innovation in B-Schools:Potential Areas for Development

K. Renuka Raju, Shakeel Ahmad A. Ramachandra Aryasri

Training Effectiveness on Job Performance - An Analytical Study with Reference to Dairy Industry

Menaka.Bammidi Puppala. Hyndhavi

Performance Appraisal Impact on Employee Job Satisfaction with Reference to TSSPDCL

M. Ramu Mohd. Akbar Ali Khan

Mobile Data Usage Behavior: A Study on Bottom of the Pyramid Market Leena Sharma

Cash to Cashless Economy: Challenges and Opportunities Saneem Fatima, Shakeel Ahmad

(2)

Dr. A Kotishwar

Dr. P. Vijaya Lakshmi, Associate Professor

Editorial Board

GUIDELINES FOR AUTHORS

1. The cover page of the article/research paper should include the title of the paper, Author’s name, Designation, organization with the address, contact number & email address.

2. Abstract of not more than 200 words outlining the purpose of study should be presented on a separate sheet along with 5-6 keyword immediately preceding the text.

3. Name(s) of the author(s) should not appear anywhere in the entire text other than the cover page. 4. All the manuscript will be sent for blind review process, the corresponding author will be informed by

the editor about acceptance or rejection of the manuscript within a period of time. On acceptance of the manuscript, the modifications suggested by the reviewers are to be incorporated by the author with in a period of 10 days and send copy of the revised manuscript again.

5. The editor reserves the right to modify or improve the manuscript as per the standard of journal. 6. The copyright of the research papers published in the journal shall lie with the publisher.

7. The authors whose papers are selected for publication shall make a subscription (Rs. 2500) for annual of the printed edition of the journal per author.

8. Copies of the journal are available by way annual subscription (Rs. 2,500 for annual or Life Time Rs. 10,000).

General Information about submission

1.

• Covering Letter: Title of the Paper, Author’s Name, Designation, Organizations, Official Address, Personal Address, Contact Numbers (Official & Personal) and e-mail address

• - objectives, Research Questions / Hypothesis, Methodology, findings and 5-6 keywords. Words limit - 250-300 words.

2.

• Format : A4 size, Ms-word

• Word Limit : Not to exceed 5000 words • Font : Times New Roman

• Size : Title - 18, Heading - 14, Text-12 • Line spacing : 1.5

3. Author must declare originality of work. The article should not have been published or be submitted for publication else where.

4. Editorial Board’s decision will be final.

5. The copyright of all accepted papers will vest with dept. of MBA - CMRCET For Submission:

Abstract: should contain

Full Paper

Declaration :

Medchal Road, Hyderabad.

Assistant Managing Editors

Telangana, India.

CMRCET-MBA Publication :

Authors shall be responsible for the ideas, thoughts expressed by them.

Patrons

Chairman CMRGI Vice-Chairman CMRGI Secretary & Correspondent CMRGI Ch. Malla Reddy,

Ch. Narasimha Reddy, Ch. Gopal Reddy,

Advisory Board

Director - (Academics), CMRGI Principal - CMRCET Dr. N. Satyanarayana,

Major Dr. V.A. Narayana,

Chief Editor

Professor & HOD, Dep of MBA, CMRCET

Dr. A Kotishwar,

Managing Editors

Professor Dr. P. Hima Bindu,

Dr. P. Alekhya, Associate Professor

S.No Name Address

1 Honorable Former Vice-Chancellor. Telangana University, Nizamabad, Andhra Pradesh

2 Professor, Department of Commerce , Bangalore University 3 Pro-Vice chancellor, Maulana Azad National Urdu University,

Hyderabad

4 Professor & Head, Department of Commerce, University of Madras, Chennai 5 Head & Associate Professor, AL Buriami University College, Oman

6 Professor & HOD, Department of Banking & Business Economics, Mohan Lal Sukhadia University, Udaipur, Rajasthan.

7 Director, School of commerce & Management Science, Swami Ramanand Teerth, Marathwada University, Nandeds

8 Head, Department of Commerce. University of Mumbai

9 Professor, SMS, JNTUH

10 Professor, School of Management Studies, University, Hyderabad 11 Professor Department of Commerce, Dr. Babasaheb Ambedkar

Marathwada University, Aurangabad

12 Dean & Chairperson, Faculty of Commerce& Mgt, Bhagat Phool Singh Mahila Vishwavidyalaya, Khanpur Kalan, Haryana

13 Associate Professor, Indian Institute of Management Kozhikode, Kerala 14 Professor & Head, School of Management Studies, Punjabi University,

Patiala, Punjab, India

15 Associate Professor, School of Management Studies, University, Hyderabad

16 Associate Professor, Department of Commerce, Delhi School of Economics, University of Delhi

17 Professor Finance , Indian institute of management Kozhikode, Kerala 18 Associate Professor, Department of Business Administration,

Annamalai University, Tamil Nadu.

19 Associate Professor Department of Business Administration and Accounting, Al-Buraimi University College

(Affiliated to California State University, Northridge, USA),

Prof. Mohd Akbar Ali Khan

Dr. M Muninarayanappa Dr. Shakeel Ahmad

Dr. S Gurusamy

Dr. Mohammed Jahangir Ali Prof. Renu Jatana

Prof. Vani N Laturkar

Dr. Vivek Deolankar Dr. Sindhu

Dr Mary Jessica

Prof. Walmik K. Sarwade

Prof. (Dr.) Sanket Vij

Dr. Sudershan Kuntluru Prof. G S Batra

Dr. Chetan Srivastava

Dr. Vanita Tripathi

Dr. Rachappa Shette Dr. A.A. Ananth

(3)

ISSN: 2277-6753 (Print) ISSN: 2322-0449 (Online)

SUMEDHA-Journal of Management

Referred Journal of CMR College of Engineering & Technology

April-June2019, Volume 8, No. 2

S. No.

Title Authors Page No.

1. A Model Proposition for Prescreening Candidates in Recruitment Process Using Fuzzy Vikor Method

Murat Bolelli* 1-19

2. An Integrated Marketing Communications, Media Synergies and its effect on the Consumer Decision Making Process

Reshma Nikhat* 20-32

3. Influence of Organizational Climate on Employee Turnover Intention in Information Technology Industry in Kerala

Jnaneswar. K*, Gayathri Ranjit**

33-46

4. Impact of Transformational Leadership Style Dimensions on Organizational Performance: An Empirical Analysis

Shruti Balhara*, Harbhajan Bansal**

47-57

5. Impact of Quality of Work Life on Organisational Commitment

Indu Bala*, Ramandeep Saini**, B.B. Goyal***

58-72

6. Mediating Role of Personal Accomplishment among Emotional Labour Strategies and Teaching Satisfaction among Professional College Teachers

Jitha G. Nair* 73-82

7. Testing of Long-Run Relationship between Gold Prices and Stock Market Return: An Empirical Analysis in India

Tanvi Bhalala* 83-96

8. Emerging Distribution Channel Effectiveness in Rural Jharkhand for Consumer Electronics

Punit Kumar Mishra*, Girish Kumar Srivastava**

97-112

9. Changing Role of Learning and Development Methodologies in Digital Age - A Comparison between Manufacturing and Service Industry

S. Rajeshwari*, D.Raghunatha Reddy**, M.Ramakrishna Reddy***

113-126

10. Creativity and Innovation in B-Schools: Potential Areas for Development

K. Renuka Raju*, Shakeel Ahmad**, A. Ramachandra Aryasri***

127-133

11. Training Effectiveness on Job Performance - An Analytical Study with Reference to Dairy Industry

Menaka.Bammidi*, Puppala. Hyndhavi **

134-147

12. Performance Appraisal Impact on Employee Job Satisfaction With Reference to TSSPDCL

M. Ramu*, Mohd. Akbar Ali Khan**

148-156

13. Mobile Data Usage Behavior:

A Study on Bottom of the Pyramid Market

Leena Sharma* 157-169

14. Cash to Cashless Economy: Challenges and Opportunities

Saneem Fatima*, Shakeel Ahmad**

(4)

Chief Editor Message

As SUMEDHA Journal of Management Thirtieth issue, We look forward to the momentous

growth of our Journal, increasing in their appeal, readership and relevance to the fast-changing

world of Business Management. During these six years journey our journal has been critically

evaluated by various institutions with similar line of interest and faculty fraternity. We have

been consistently seeking advice from experts to continuously improve the quality of the

journal. Our journal has got UGC Approval Journal (Serial No : 46802 ), Indexed in Indian

Citation Index (ICI), PROQUEST Database, Google scholar JUSER Database, MIAR Data

Base, Index Copernicus value 59.11, ISRA Journal Factor 4.018, Sjifactor Impact factor 4.339,

International Scientific Indexing Impact factor 1.332. On behalf of the Management, Editorial

Board and Editorial Team, I express my profound gratitude to all our authors, reviewers,

readers and patrons for offering their overwhelming support and I anticipate a continued

and lively partnership for years to come.

All of us recognize the necessity for change, which results in progress. It gives way to new

ideas and perspectives reflecting the current and emerging environment, which builds on

the solid foundations of the past.

Last but not least valuable would be your response and suggestions on this issue. Kindly

send us your views so that we can keep on upgrading our journal.

Thanking you

(5)

Creativity and Innovation in B-Schools: Potential Areas for Development K.Renuka Raju*, Shakeel Ahmad**, A.RamachandraAryasri***

127

-SUMEDHA-Journal of Management

Referred Journal of CMR College of Engineering & Technology April-June 2019, Volume 8, No. 2, pp 127-133

ISSN: 2277-6753 (Print) ISSN: 2322-0449 (Online) http://cmrcetmba.in/sumedha/

Creativity and Innovation in B-Schools:

Potential Areas for Development

K. Renuka Raju*, Shakeel Ahmad**, A. Ramachandra Aryasri***

* * Chairman and Managing Director, Kovida Limited, Hyderabad ** Joint Secretary, University Grants Commission, New Delhi

***Former Director and Professor, School of Management Studies, Jawaharlal Nehru Technological University Hyderabad (JNTUH), Hyderabad

Abstract

Though India was an international destination for higher learning for centuries, it is alarming that the present business education is not effective and efficient because of ineffective policies in the recent past. As a result, Indian higher education has not fared well in terms of creativity and innovation in general and quality and skills in particular amidst increasing global competition. India ranks among the last three countries in Global Intellectual Property Index today.This paper identifies some potential areas where policy changes are the need of the hour. These include the quality of question paper setting, raising the bar for entry into business education, ap plied learning, dynamic content, life skills/emp loyability skills, entrepreneurial skills, multi-dimensional assessment, internships, raising the learning standards and quality assurance. Student entry pools into every business school needs to be indexed in terms of creativity, innovation and entrepreneurial skills.

Keywords: Innovation, B-schools , Development, policy changes, (FPP),

JEL classification : O3, O10, O23

PUBLISHING CHRONOLOGY

PAPER SUBMISSION DATE : JANUARY 10, 2019;

PAPERSENTBACKFOR REVISION : FEBRUARY 18, 2019;

PAPER ACCEPTANCE DATE : MARCH 12, 2019

Reference to this paper should be made as follows:

K. Renuka Raju, Shakeel Ahmad A. Ramachandra Aryasri(2019),

"Creativity and Innovation in B-Schools: Potential Areas for Development

(6)

128

-1.

I

NTRODUCTION

At one point of time, India was the world's centre and destination for higher learning. At present, India's global reputation for higher education, encourage important research collaborations and help attract international students. However, Indian higher education has not fared well amid increasing global competition.

India has only 2% of skilled workforce in comparison to 96% in South Korea, 45% in China, 74% in Germany and 55% in the US, to name a few countries. Indian education system has been focusing more on imparting knowledge and less on skill development. According to Ministry of Skill Development and Entrepreneurship, India will be able to create only 109.7 million skilled workforces by 2022 while the requirement is much higher1.

India ranks among the last three countries in Global Intellectual Property Index2. One of the suggestions made by the Draft National Education Policy 2019 to improve the creativity and innovation is to introduce Art aesthetics programs, instruments, singing, sculpting, drawing, painting 3.

P

OTENTIAL

A

REASTO

S

HOW

D

IFFERENCE

Assessment Design Framework (ADF):ADF is an assessment instrument used by the Trends in Mathematics and Science Study (TIMSS), introduced by m an international professional assessment body: the International Association for the Evaluation of Educational Achievement (IEA). ADF entails an array of assessment methods to determine the knowledge, understanding, application and reasoning skills that students have acquired.

Suggested ADF Framework for India

Knowing / Knowledge 30%

Applying / Application 35%

Reasoning / Higher Order Thinking Skills 35%

Introducing ADF will improve quality of student pools, ensure international standards in assessment and evaluation and improve productivity of B-schools.

Start with the Feeder Entering the Business Education: Almost 40 to 50 percent of the question paper is short notes and the remaining is full length questions. There are slip tests and quizzes conducted periodically and these marks are considered for internal evaluation. The quality of paper setting decides about the academic standards. Even the answers to the multiple choice questions need to be crafted so skillfully that the answers are close to each other and the candidate finds it difficult to answer at the first glance.

(7)

129

-mentioning. How can we show higher productivity at higher education, with so many constraints and challenges?

Broadbased Criteria for the admissionto B-School: Students with less than 50 percent of pass marks are given admission to B-Schools. This is another reason why manyB-Schoolscandidates fail to secure employment in India and do not measure up to the workplace expectations. The issues such as academic brilliance, creativity and personal endeavours are not given scope in the student selection process.

Sector Skills Pathways Streaming:It is time that the business schools focus on developing sector aligned competencies (education, knowledge, skills, abilities, values and aptitude) among students so that they progress on higher education or training paths leading to employment or job roles. Every academic or training program needs to articulate how it matches with the youth's need forsector driven employment for national productivity. It is the need of the hour that the apex bodies like University Grants Commission (UGC), All India Council of Higher Education (AICTE), National Skills Qualification Framework (NSQF) and National Higher Education Qualification Framework (NHEQF) should work out the strategies for implementingcollege and career readiness. This will reduce the rate of college drop outs. Streaming constitutes the first step to promote large scale industry and sector aligned working force development.

Applied Learning:Assessments are general in nature; in a way, this is good as it ensures that students can gain entry into any sector and any domain. However, in view of the current competitive environment, the employers wish to recruit the candidates that they find capable of performing at the workplace from day one. This type of readiness can be built only with applied learning towards a given sector. The students need to be oriented to specific sectors and domains with employability skills.The demographic dividend will be aptly addressed when students are given applied learning orientation in a particular sector in developing employability skills.

Life skills/Employability skills:Employability skills need to be cultivated and embedded in a seamless manner across senior secondary school, under graduation, post graduation and further education to improve employability skills. Otherwise, it is something like applying powder to look better before going for a meeting or function.

(8)

130

-Multi-dimensional Assessment for Senior Secondary School Students Intending to Enter Business Education Programs: One strategy that advanced countries like US, UK, France, Germany or Canada pursue to finalize admission for B-Schools is the Multi-dimensional assessment. It is not just academic excellence and other few parameters like extracurricular like NCC or NSS or sports but equal attention is paid to intellectual vitality. Admission is finalized based overall assessment through a multi-dimensional scaling where the candidate's commitment, dedication and genuine interest in expanding the intellectual horizons is evaluated on very structured parameters. The universities also look for the kind of curiosity and enthusiasm the candidate possesses to spark a lively discussion in a student seminar and continue the conversation later.

The final litmus test that decides whether to offer admission or not is very simple: Do the candidates possesses the energy and depth of commitment or not. Can they contribute to their capacity to their personal success and team performance whether it is research lab, or community organization, or athletics? Are they capable of seeking out for opportunities and expand their perspective? In a country like India, we cannot afford to just confine the assessment to select subject related proficiency. Every year, right from the secondary school level to senor secondary level, the final examination in every subject shouldcover 60%, of academics and the remaining40%, should cover the following for a holistic assessment of the personality of the candidate: a) Reading skills assessment of an unseen text; b) reading and comprehension of an unseen passage; c) assessment for writing skills; d) assessment of arithmetic skills; e) assessment of analytical skills; e) ICT skills assessment; f) Group work/ collaborative problem solving skills and project based hands-on assessment; g) workplace credit/completion of Massive Open Online Courses (MOOCs) for college credit and advanced placement; h) Personality assessment through Psychometric tools.

Student Learning Outcomes (SLO) for Scholastic and Co-Scholastic: Assessment of cannot be just confined to testing the student's ability to reproduce content knowledge. Otherwise, the whole effort of government machinery and the parents gets defeated if there is no focus on learning outcomes. At the end of the day, what is it that the student could learn? The whole assessment system needs to be revamped to ensure comprehensive assessment, including learning outcomes relating to both scholastic and co-scholastic domains. The curricula needs to define the standards of educational performance and learning outcomes through which the objectives of education are realized. Whether these outcomes are attained or not-also can be assessed/monitored with a view to revise and upgrade the curricula once every two years4.

(9)

131

-the active teaching-learning process. In contrast, India does not deploy or leverage such student engagement strategies in business schools. The change in orientation from year end examination to continuous assessment will engage the students deeply in the teaching -learning process and reduce stress among students. Continuous evaluation paves way for hand-holding where necessary, monitoring, counseling and career guidance.

Dynamic content:Dynamic content refers to the learning materials drawn from the newspapers, journals, websites and media (both print and electronic) that is aligned to the preferences and interests of the reader. It is personalized, adapted andcustomized to deliver an engaging and satisfying online / offline experience for the user. The teachers need to orientstudents to the current developments by making newspaper reading compulsory and this is the sure way of building workplace language and communication skills. The 'must read articles' can be presented in the class room by the students and the teachers need to guide through these presentations.

This is a prominent tool for self learning. The fundamentals taught from the text books need to be supported by the editorials, expert views and sector/domain specific current developments. Over a period of time, this will facilitate the students to evaluate for themselves how different drivers in several sectors and domains are contributing to economy growth and development, employment and technological advancement. Dynamic content will teach how the different views expressed by the experts can be evaluated and develop independent and critical way of thinking.

New Technologies:The way we live, learn work and communicate is likely to get transformed in the 21st century because of Industry 4.0 where in the current focus is on Artificial Intelligence (AI), Robotics, Automation, Internet of Things (IoT), Virtual Reality (VR), Augmented Reality (AR) Mixed Reality (MR), Machine Learning, Data Analytics etc. These have already revolutionized the information and learning resources, thus opening a host of new opportunities and platforms for learners. Developing, deploying and integration of these new technologies into educational setting is currently picking the pace and needs to be accelerated with highest priority in the education and skill development sector.

(10)

132

-also suggest the cases where the valuers can be penalized for their negligence or errors. B-schools should develop a professional body of assessors who are independent; the senior assessors will contribute towards upholding higher standards in the assessment practices of business education for quality assurance.

Governance:To build Indian youth workforce development initiatives, governance is vital. Good governance in education system promotesand upholds effective delivery of education services, standards, incentives, information collection for accountability and transparency. Why are Indian academic institutions not figuring in the top 100 list of worldclass educational institutions? MOOCs gained prominence because the participation certificates are offered by renowned institutions like World Bank and many other foreign universities which are known for the high degree of governance practiced in the institutions.

The convergence of programs for national productivity and crucial ministries can save budgets and promote better governance. There should be better coordination among government policy makers, state councils of higher education, school boards across the country, school educational institutions, sector skill councils, training agencies and other industry players in tune with the trends in the national and international labour markets. Thus, the business education has a great stake in collaborating with apex bodies in school and higher education in ensuring that they get a better candidate pool and synchronize their programs with industry inputs.

Internships, Student Loans and Scholarships:This is one area where India needs to leverage from the best practices in the world. For last few decades, foreign university education was subsidized through grants and donations. During this period, the students were offered internships and paid assignments to subsidize their education. Universities realized that the students can be made accountable and held responsible for the assignments given by paying a moderatesum every month. This was relatively the economic way of getting the work done. Student loans and scholarships are usually offered strictly based on merit. India has to leverage this international best practice on much wider scale and in depth. Right now the cost ofeducation in B-Schools is relatively cheaper in India and so isthe quality. There is no effort to improve the quality because quality has a cost. Many Government funded institutions in India, whether universities, colleges or senior secondary schools, lack financial and academic freedom to compete with private educational institutions.

(11)

Training Effectiveness on Job Performance - An Analytical Study with Reference to Dairy Industry Menaka.Bammidi*, Puppala. Hyndhavi **

133

-To sum up, the above are a few select strategies to be scoped for implementation on a priority basis. It is possible to index every business school in terms of creativity and innovation. The whole world is looking at India as a five trillion dollar economy. It is time to transform B-Schools in India by strengthening the feeder pools to equip corporate India and world with highly productive and employable candidates.

R

EFERENCES

[1]. Ministry of Skill Development and Entrepreneurship, India Report 2018

[2]. Dey, Sudipto. "India Among the last Three in Global Intellectual Property Index." Business Standard 8 Feb. 2017. Press reader Web. 10 Feb, 2017.

[3]. Draft New Education Policy, 2019 p. 89-90

[4]. K.Renuka Raju, Indian Certificate of Applied Learning (ICAL) for College and Career Readiness and Preparation: The Need for Articulation for Quality Education and Skills: A discussion Document, Kovida Limited, Hyderabad 2017.