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.
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.
Climate change is an issue hovering as a major roadblock to global development. It is a topic that worries the developed, the developing and the underdeveloped countries equally. While it is said that climate change is the result of the development process initiated by the developed countries during the industrial revolution, its outcomes shall be faced by every part of the world. Defined as a change in the average temperature of the earth, climate change is the most discussed issue of the 21 st century. Climate change is known to occur over a period of time and may range over years, decades or even centuries. It may be limited to a specific region or cover a span of region(s) and has direct potential impact on economies at the global level and civilizations. Numerous scientific and policy-focused studies were started to investigate the potential effects of climate change as well as potential human responses to it as evidence for the theory that rising greenhouse gas concentrations in the atmosphere would cause climate change accumulated over the past few years. Indeed, in the context of South Asia, climate change is not only the biggest environmental threat faced by the region but also the likely cause of extraordinary social and economic problems in the course of this century. The paper has attempted to assess the Socio-economic impacts of climate change on South Asian nations which includes the impact on health, growth, and development. Additionally, the paper discusses the adaption and mitigation practices and strategies adopted by South Asian nations and in the end, it has put stress on following long-term efforts and policies to mitigate the adverse impact of climate change.
Micro, Small and Medium Enterprises (MSMEs) play a crucial role in equitable upliftment and development of economy. Although these sectors are contributing to economy through generation of employment, supply products, services through indigenous and modern technology, promote social entrepreneurship, reduce regional disparities, and promote equitable income opportunities as well strengthen the balance of trade of the economy. MSMEs are facing actuate deficiency of management which leads to organization in to financial deficiency. Financial Distress in the MSMEs is common for all economy of the world, which has been major concern for the academicians, experts, professional, society, creditors and government. This study identifies the prediction of sickness in MSMEs in Bihar with the help of Altman Z’ Score. The study employs the statistical and financial methods to analyze the data collected in the study. The study identifies financial distress in small and medium enterprises through their balance sheet and profit and loss account. The study came out with proper strategy and policy related to revival of the enterprise from the financial sickness and preventing them from industrial sickness.
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