While previous research has explored the linkages of strategic orientations and innovation for large businesses of developed economies, relatively little is known about these linkages for SMEs of emerging economies. To study these linkages, data were collected from owners or senior executives of 162 manufacturing SMEs in the Punjab region of India. Our results show that while customer orientation has been found to enable innovation for large firms, it does not directly facilitate innovation for Indian SMEs. The customer-oriented SMEs create successful innovation through better utilisation of their dynamic resources. Therefore, creation of dynamic resources by SMEs is more critical than that of unique resources for successful innovation. Implications of our findings are discussed for theory as well as practice.
Purpose – Industry appropriability – the degree to which firms in an industry can appropriate benefits from their innovations – is a crucial dimension of industry environment. Small and medium manufacturing enterprises (manufacturing SMEs), because of their limited resource base, tend to be especially sensitive to the appropriability conditions in their industry. The purpose of this paper is to understand the influence of industry appropriability on firm outcomes (innovativeness and performance), and posits technology orientation as a dynamic capability that helps firms overcome appropriability barriers in their industry. Design/methodology/approach – Data were collected from 162 manufacturing SMEs in India. Multiple linear regression analysis was used to test the proposed hypotheses. Findings – This study reveals that the perceived level of appropriability of manufacturing SMEs impacts their innovativeness. Further, findings also support technology orientation as a crucial firm-specific characteristic which enables firms to overcome unfavorable appropriability conditions. Technology orientation plays a significant role in mitigating the negative impact of lower appropriability conditions. Even when the patent regime is unfavorable, technology-oriented firms are able to innovate and perform better. Practical implications – The findings suggest technology orientation as a strategic mechanism for manufacturing SMEs to respond to conditions of unfavorable appropriability regime. Originality/value – This study elaborates the benefits of integrating industry-level and firm-level characteristics. Specifically, an attempt was made to extend the existing research on industry appropriability by bringing in the contingent effect of technology orientation. The context of manufacturing SMEs yielded several interesting insights.
With the liberalization and entry of private companies in insurance, the Indian insurance sector has started showing signs of significant change. Within a short span of time, private insurance has acquired 13 per cent of the life insurance market and 14 per cent of non-life market. However, there is still a huge untapped demand for insurance. Insurance companies have a pivotal role in offering insurance products which meet the requirements of the people and, at the same time, are affordable. Some of the challenges faced by the insurance sector pertain to the demand conditions, competition in the sector, product innovations, delivery and distribution systems, use of technology, and regulation. To understand the growth and development and the future prospects of this sector, this colloquium addresses the following issues: What will be the demand for insurance? What types of innovative strategies of insurance education and awareness will we require to encourage the Indian consumers? With the changes following bank participation in insurance, will the nature of competition in this sector intensify? What kind of competitive and risk pressures will the insurance businesses experience? What are their implications for profitability, margins, and efficiency? The average size of the polices will continuously decline as the insurance companies increase the geographic coverage. As a result of this, the intermediation costs will go up. What are the implications of these on average costs? What will be the product market scenario? Has the insurance sector benefited from the knowledge base of global companies? To what extent have the technology gains in telecommunications, computer information, and data processing contributed to increased efficiency and productivity of insurance companies? The following key points emerged from the responses of the panelists: The future in life insurance will be determined by the increase in pure protection products, a refreshing look at unit-linked plans, launch of customized plans, and improved service levels. The insurance sector will grow steadily rather than rapidly. While the law and regulations are in place to ensure financial strength and solvency of insurers, the regulator's challenge lies in monitoring compliance. The opportunity for financial services is increasing all over the world. Big domestic companies with significant market shares in the local countries will have the opportunities to commence business in other markets. Keeping in mind the complexities of the industry, multi-product, multi-channel, and multisegment route needs to be followed for growth. The challenge of successfully implementing bancassurance lies in training the staff, integrating the insurance products, and ensuring best quality service. Agents in the insurance sector are critical for its success and, in order to gain competitive advantage, quality people are needed but attracting and retaining agents is a challenge.
Purpose This paper aims to discuss key aspects of the longevity of business enterprises across the world. It explores the parameters that set apart a company which had survived for more than 1,400 years from most large companies which survive for a fraction of this time. Design/methodology/approach The paper integrates observations from two important research papers on the topic, and from the author’s own research. Findings Contrary to expectations, long-surviving firms are usually conservative about change, exploit their opportunities rather than explore more, diversify in relevant areas, and co-operate even with their competitors to live long. Research limitations/implications To those companies that live long, age becomes a valuable resource in itself. Consumers see a continuous track record of a firm as a proxy for good quality, and long history can provide managers institutional memory to leverage toward further sustainability. “Long history” not only can provide anecdotes and stories to employees that exemplify the tacit core values of the firm but also, quite counter-intuitively, could be useful in transforming cultures and traditions. Practical implications Longevity challenge encompasses both continuity and change, but the experience filtered from many long-lived firms across the globe provides companies with insights that could inspire many more to live long and prosper.
This colloquium serves as a conceptual and experiential platform to stage the insights generated on the case method by the faculty who have taught and/or trained at the Indian Institute of Management, Ahmedabad (IIMA). It comprises three sections titled Contexts (including Technology and Culture), Institutions, and Futures. The institutions comprise IIM, Ahmedabad, IIM, Bangalore, and IIM, Indore though the primary focus remains on the curricular and pedagogical innovations at IIMA. The insights on the future of the case method in India that emerged from the colloquium are the following: The availability of information and communication technologies in the emerging milieu is not a threat but an opportunity to reinvent the method; this, however, requires breaking from the ‘classical method’ in order to innovate. The changing demographics of the classroom necessitate a greater appreciation and sensitization to how cultural differences can affect the receptivity to the case method. The written analysis of cases (WAC) was and will continue to remain the site for introducing the case method to the incoming students of the Post-Graduate Programme (PGP) at IIMA. Communication skills can be taught effectively if a performative dimension is built into the case discussion through role plays. Many of the cases used in the IIMs reflect the ethos of a socialist, pre-liberal era of the Indian economy. There is a pressing need to develop cases that reflect the economic developments of recent times. The case method will continue to be the mainstay of the forthcoming PGPX (PGP for executives) at IIMA since the greater work experience of the participants will make it possible to combine ‘inductive and personalized’ forms of learning. An examination of the barriers to effective case teaching and writing at IIM, Bangalore reveals that a formal review process may help to increase the standard of cases and teaching notes. The institutionalization of the case method in a new IIM requires enormous efforts on the part of both individual faculty (with prior exposure to the method) and the institute as a whole. The learnings from the experiment at IIM, Indore are relevant to understanding what is at stake in the replication of the method in a new institution. The Socratic Method is not synonymous with the case method; it is not the instructor�s task to invoke the dialectical method in response to an ‘inner voice,’ but an attempt to facilitate the learning process. The method persists despite adverse conditions in many institutions. Questions of form remain more important than content in teaching through this method since it helps to negotiate the gap between ‘management reality’ and ‘methodical management.’ The method should move from a mere ‘post-mortem’ of a business situation to a dynamic orientation and facilitate active learning through the realization of the dictum that ‘the past is in the present as in the future.’ The case method will continue to structure the education of managers in the future despite changes in the nature of competition, the organizational environment, etc. However, it may be necessary to supplement the case method with field-based projects to generate the habit of decision-making; this will also make the learning contemporary for the participants.
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