Tuesday, 30 January 2018

A Study on Feminist Perspective towards Eco Friendly Products With Reference To Chennai City


Abstract
  The deterioration has started because of the rapid economic growth and customer consumption pattern .The scarcity of the resources has become the threat for the environment The increasing environmental problems has shifted the focus of the government and industries towards green marketing and green products. The objective of the study is to understand the feminist thinking towards eco friendly products and to know the advantages and disadvantages of the eco friendly products.  The research conducted was non-experimental, descriptive and quantitative research .The sample size is 150.The stratified random sampling techniques was used in this research. The feminist  has different attitude towards green purchase. Customers who are older lack interest towards the green products.
Introduction
  In recent years, terms like "going green" and "eco-friendly" have become buzz words on talk shows, commercials and product packaging. The term "eco-friendly" has been used for so many different products and practices; its meaning is in danger of being lost. By understanding the true meaning of eco-friendly, you can implement the practices that will lead to healthier living for the planet and its inhabitants, big and small. Eco-friendly literally means earth-friendly or not harmful to the environment. This term most commonly refers to products that contribute to green living or practices that help conserve resources like water and energy. Eco-friendly products also prevent contributions to air, water and land pollution. Feminist engage in eco-friendly habits or practices by being more conscious of how to  use resources.
   The world is facing the most critical problem the deterioration of the environment. The deterioration has started because of the rapid economic growth and customer consumption pattern .The scarcity of the resources has become the threat for the environment .The importance of social needs has made the human beings to realize the conservation of the environment. Green products are also considered as the safe products. It is also known as ecological products or environmental friendly products.  The Feminist consumers are aware and use the products which are safe.
   The increasing environmental problems have shifted the focus of the government and industries towards green marketing and green products. The feminist  perspective is that the Consumer’s initiatives are important without their efforts it will be proved ineffective. They also believe each  customer has different attitude towards green purchase. Customers who are older lack interest towards the green products. Companies have to start unified campaigning to create the awareness of the green marketing. Legitimacy has to be practiced by the producers in order create interest among the customers. Initially the organization has to incur high cost later in the long run it will be more beneficiary.
   Feminist agree that living the eco-friendly life has some advantages and disadvantages. As mentioned earlier, one of the disadvantages is that may have to forgo some of the more modern conveniences. Not many, but the conveniences like fast foods and certain types of luxury activities do little more than create a burden on the environment. One of the best examples is the idea of the personal car. While you may realistically need a personal vehicle, you do not need one that gets poor gas mileage or is made with luxury accessories or advanced electronics that are impractical, and also consume vital natural resources.
Objective of the Study
·         To understand the feminist thinking towards eco friendly products.
·         To know the advantages and disadvantages of the eco friendly products.
·         To analyze the feminist awareness towards  the eco friendly product
·         To study whether the feminist attitude influence the buying behavior.
Review of the Literature
  According to American Marketing Association green marketing is defined on three perspective first marketing of the product which are very safe to the environment, second the development and marketing products have brought down the negative effect on the physical environment and the third perspective is that organization produce ,promote ,package and reclaim products that is responsive to ecological concern.
  In the view of Ottman (1998) green product refers to the typically non toxic, originally grown recycle, reusable not polluting the environmental and safely package contain natural ingredients recycled content. D’Souza et al.(2006) stated that the price is the attribute that consumers reflect on when making a purchasing decision on green products .Consumers are less likely to purchase green products. Consumers less likely to purchase green products if they are more expensive.
  Polonsky(1994) mentions the terms like phosphate free, recyclable ,refillable, ozone friendly and eco friendly are some of the things consumer relate to green marketing .It is abroaden concept and can be applied consumer goods ,Industrial goods and even services. In the view of Dodds et al.(1991)when consumers are wishing to purchase a product are meant as purchase intention. Also some factors that will influence the attitude of consumer to a product will constitute to consumer purchase intention. When purchase intention is high then the willingness of consumer to purchase specific product is also higher.    
Research Methodology
  Based on the previously cited theoretical and empirical literatures,the following hypothesis referring to the feminist perspective towards eco-friendly products were proposed.
Hypothesis 1:
 There is a significant difference between perspective of feminist and awareness of eco friendly products.
Hypothesis 2:
There is a significant difference between perspective of feminist and buying behavior of eco friendly products.
Hypothesis 3:
There is no significant relationship between perspective of feminist towards eco friendly products and the sources of information regarding eco friendly products.
Sample and Data collection
The respondents are selected from the Chennai city using convenient sampling techniques as it is less time consuming .The sample size for the study is 150 and the feminist were chosen as respondents and they have given responses in the considerable manner.
Finding and Analysis
Table-1
S.No
Variable
Frequency
Percentage
1.       
Age
18-25
48
32
26-35
44
29.3
36-45
37
24.62
>45
21
14
2.      
Marital Status
Married
85
56.6
Unmarried
65
43.3
3.      
Education
High school
2
1.3
Graduate
33
22
Post Graduate
38
25.3
Professionals
55
36.6
Doctorate
22
14.6
4.      
Income(p.m)
>10,000
24
16
10001-20000
23
15.3
20001-30000
33
22
30001-40000
41
27.3
< 40000
29
19.3
As mentioned in the above table the characteristic of the sample vary across age, marital status, education and income. Finding also suggests that out of the respondents almost 90% have the positive thinking towards the purchase of green products.
Data Analysis
Chi-Square Statistics (Test of independence )has been used to understand if there is any dependence among the demographic variables such as age income, marital status, education and occupation and the awareness about eco-friendly products .The attempt also been made to understand  if there is any influence of above said demographic variables on the respondent’s consideration for buying decision of the eco friendly product.
The following table shows the result of chi-square analysis.
Table-2
Variable
p-value
Null hypothesis Accepted/ Rejected
Age
Awareness of eco friendly products
0.315
Accepted
Marital Status
0.612
Accepted
Education
0.456
Accepted
Income(p.m)
0.562
Accepted
Age
consideration for buying decision of the eco friendly product
0.026
Rejected
Marital Status
0.756
Accepted
Education
0.000
Rejected
Income(p.m)
0.197
Accepted
As it can be seen from the above table that the awareness about eco friendly products is different from the demographic variables such as age, marital status, education and income. It can be inferred that the awareness is not confined across a specific age group.
It is quiet visible from test results that the consideration for buying decision of the eco friendly product shows some dependency on age and education  while ,the marital status and income plays no significant  role in the consideration for buying decision of the eco friendly product.
Since ,chi-square statistics just helps in identifying the dependence between two categorical variables in order to understand and establish a definite relationship between the variables ;we can use binary logistics regression.
Binary Logistic Regression
Binary Logistic Regression has been applied where the chi-square statistics  showed some dependence between the variables i.e,education  and  consideration for buying decision of the eco friendly product. The result of  an attempt to formulate a model using BLR is not significant and the key regression coefficient shows very poor model fit.
Table-3
Cox&snell R Square
Nagelkerke R square
.014
.024
  The results signify there may be some dependence between the level of education and the consideration for buying decision of the eco friendly product but the relation between these two is not strong to convert in to a meaningful model.
Frequency table for source of information
Table-4
Source
Frequency
Percentage
Internet
103
68.7
Television
23
15.3
Radio
12
8
Educational Institution
8
5.3
Government commercials
4
2.6
Total
150
100
  From the above table it can be analyzed that respondents source of information regarding eco friendly product are more from Internet and television with 68.7%and 15.3% respectively. This may be so because many of the eco friendly product manufacturing companies are creating awareness among the consumer by providing advertisements about their eco friendly products on different medium.
Table-5
Variables
p-value
Null hypothesis Accepted /Rejected
Environmental concern and attitude towards eco friendly product
0.000
Accepted
As it can be seen from the above table that the null hypothesis has been accepted which implies that there is no significant relationship between Feminist Environmental concern and attitude towards eco friendly product and their attitude towards eco-friendly products.
Conclusion
 The research indicates that feminist  perspective is that the Consumer’s initiatives are important without their efforts it will be proved ineffective. Finding also suggests that out of the respondents almost 90% have the positive thinking towards the purchase of green products. chi-square statistics just helps in identifying the dependence between two categorical variables in order to understand and establish a definite relationship between the variables ;we can use binary logistics regression As it can be seen from the above table that the null hypothesis has been accepted which implies that there is no significant relationship between Feminist Environmental concern and attitude towards eco friendly product and their attitude towards eco-friendly products.
Reference
America Marketing Association1995,Dictionary viewed  January 2014,from http://www.ama,org/resources/pages/Dictonary .aspx?.dletter=G
Othman M.N.(2000),Kesendaran terhadap alam skital kaijian perbandingan diantara penggun Mulayudan cina di Bandar,Malaysian  Journal of consumers and family economice,3,24-50.
Polonsky,M.J.andMitu–Wimsett,A.T.(eds)(1995),EnvironmentalMarketing stratergies,practices,theory and research ,the Haworth press, Newyork, NY.
D’souza,C and Peetiatko.R(2002).The nexus between industrialization and environment ,A casestudy on Indian enterprises environmental management and health vol.13 No.1pp 80-97

Wednesday, 24 January 2018

Inter collegiate paper presentation competition


     Students of Business Administration organized Paristi, 2018 an Inter –Collegiate paper presentation competition on 24th January, 2018. Students from various city colleges participated and won  cash awards. 


The Club also organized a Guest lecture on Maxellence: Marketing Excellence, Maximum Excellence   by Mr.S.Arun Kumar Davay ,Senior Management  Consultant ,Indo German Training Centre on 24th January ,2018 .The students of BBA ,B.Com(General) and B.Com (Accounting and Finance ) were the beneficiaries.






.

Friday, 22 September 2017

Career Guidance program



A Career Guidance program on Women Empowerment and Interview etiquettes was organized on 21st September, 2017 by Mrs. Shiva Kirupa and Mrs.Sandhiya, Versatile Business school .39 students of III BBA attended and equipped themselves with the interview etiquettes


Monday, 21 August 2017

A Study on Corporate Social Responsibility in the top sustainable banks in India


Ms.S.Suruthi,III BBA and Ms. A. Hussnaara, II BBA
CTTE College for Women
ABSTRACT:
The idea that if companies use resources that belong to society, as an ethical duty, this application should be returned to society transformed into benefits. Various initiatives have been developed in recent years that induce the companies to be more systematic, progressive and visible in corporate social responsibility. The governent has also recommended the firm to invest 2% of their net profit towards CSR activities. In the light of above, the present study is aiming at studying the CSR Initiatives and practices in Banking sector and how this sector respond to the social demands of the society while involving in their core business. The primary objective of the study is to study the various CSR initiatives by various banks and also to identify best practices of banks with respect to CSR practices.
Key Words: CSR, Sustainable banking
INTRODUCTION
            CSR, also known as Sustainable Responsible Business (SRB), or Performance, is a form of corporate self-regulation integrated into a business model. Industrialization and commercialization of service sector have explored vivid avenues of progress to a nation. In developing nations, there is a lack of focused and effective actions to the current need. In addition to this a very limited research work has been done to investigate the CSR practices in developing and emerging nations. CSR studies conducted so far were in the context of developed countries such as Western Europe, the USA and Australia and we still know too little about practices in smaller and emerging countries. Bowen also provided a preliminary definition of CSR: “it refers to the obligations of businessmen to pursue those policies, to make those decisions, or to follow those lines of action which are desirable in terms of the objectives and values of our society”.
            The World Business Council for Sustainable Development defines Corporate Social Responsibility as, “Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.”
            In India, the CSR gained momentum when Companies Act 2013 was drafted with provision for corporates to spend 2% of the profits towards Corporate Social Responsibilities (CSR). The CSR provisions within the Act is applicable to companies with an annual turnover of 1,000 crore INR and more, or a net worth of 500 crore INR and more, or a net profit of five crore INR and more.
Objectives:
The primary objective of the paper is to study the best CSR practices and initiatives in banking sector in India with reference to top Sustainable banks.
Research Methodology:
The study is based on the secondary data collected from the annual reports of the banks.On the basis of the Sustainable report 2016 published by Future scape and IIM, Udaipur, 6 banks were selected for the study from the top 100 sustainable companies,2016.
Limitations:
The study is based on secondary data and the annual reports of banks were studied to understand the CSR practices and primary data was not used for the study.
Review of Literature
            Eliza Sharma & Dr. Mukta Mani, 2013: Banks are usually judged from the point of view of their financial performance but this study has explored a new dimension for analysing the performance of banks. the study that certain banks like ICICI bank, HDFC bank and State Bank of India which are top performers in terms of profitability and growth are not at the top in CSR activities.
            Mrs.V. Carolin Juliya Pushpam,  Dr.R. Karthi, Ms.B. Asha Daisy, 2015: Banking sector in India is showing interest in integrating sustainability into their business models but its CSR reporting practices are far from satisfaction. There are only a few banks which report their activities on triple bottom line principles.As a matter of fact, the standards for rating CSR practices are less uniform in comparison to that for financial rating. This leads to problem in comparison of corporate houses and determining the CSR rating
            Sarita Moharana, 2013:Most banks use CSR as a marketing tool to spread the word about their business, Generally speaking, most banks seem either unaware or dont monitor their CSR. Special training needs to be given to business managers in working with social issues and Participation of small and medium business should be encouraged... The concept of CSR has failed to some extent to take deep root in India because of lack of  coordination between the banks, government, and non-government organizational efforts.
CSR in Banking Sector:
The CSR in Indian Banking Sector is aimed towards addressing the financial inclusion, providing financial services to the unbanked or untapped areas of the country, the socio-economic development of the country by focusing on the activities like, poverty eradication, health and medical care, rural area development, self employment training and financial literacy trainings, infrastructure development, education, and environmental protection etc. 
Among the top 100 companies for Sustainibility and CSR, the following banks were ranked on four main criteria, Governance, Disclosure, Stakeholders and Sustainability.
CSR Initiatives by the top Sustainable banks:
CSR Initiatives of HDFC Bank Ltd (Ranked 44 in Sustainable Practices,2016)
Empowering through sustainable livelihood initiatives:
training for enhancing occupation skill, credit counselling, financial literacy, market linkages.
Financial literacy and inclusion
financial literacy amongst various segments such as students, senior citizens and others in the communities, directly or through implementing partners
Promoting education:
banks interventions aims at mainstreaming children and improving the quality of education they receive.
Skill training and livelihood enhancement:
training and capacity development of youth and women from economically weak sections of society

CSR Initiatives of Axis Bank Ltd. (Ranked 57 in Sustainable Practices,2016)
Sustainable Livelihoods
promote women empowerment through such activities by providing them skills and livelihood assets which contribute to improvement in their socio-economic status. 
Financial literacy and inclusion
create awareness on personal financial management aspects through financial literacy initiatives and provide the underserved sections of society
Access to finance and entrepreneurship development
creation of sustainable income sources through micro-finance and micro-enterprise development and strengthen mechanisms for alternative livelihood
 Education and Skills Development
a. Skill development through vocational education and training
 b. Consumer education and public awareness 
Environmental Sustainability and Rural Development
a. Natural resource management, soil and water conservation
 b. Renewable energy and emissions reduction
CSR Activities of  IndusInd Bank Ltd. (Ranked 58 in Sustainable Practices,2016)
Agriculture
During the financial year 2015-16,the bank showed  50% annual increase in agricultural lending by the Inclusive Banking Group (IBG)  and a Disbursal of `16,780 million through 0.95 million accounts to poor agricultural borrowers.
Renewable Energy
The Bank has sanctioned `46,178.80 million for projects whose total MW capacity is 1497.3 MW.
Inclusive banking
More than 60% Business Correspondent loans given in ‘below average’ and ‘low’ areas of CRISIL Inclusive Index y 65% and 81% increases in loans to weaker sections (above `30,000 million) and MSMEs (above `20,000 million) respectively.
CSR Initiatives of Mahindra & Mahindra Financial Services Ltd. (Ranked 66 in Sustainable Practices,2016)           
Promoting Education:

The education initiatives are primarily implemented through Kotak Education Foundation (KEF) and the Bank’s CSR team
Enhancing vocational skills and livelihood projects
The CSR team works towards imparting vocational skills to deserving children and youth, women, elderly, and the differently-abled.
Reducing inequalities faced by socially and economically backward groups
The Bank support towards rehabilitating socially and economically backward sections of society by providing safe houses
Environmental Sustainability
The Bank sponsor for environmental sustainability activities such as tree plantation either directly or through an external stakeholder / NGO.
CSR initiatives of State Bank of India: (Ranked 68 in Sustainable Practices,2016)
Child Education:

40,000 educational kits, consisting of school bags and stationery were distributed to school going children from economically disadvantaged sections across various parts of India.

Environment:

 A barren municipal area was beautiful in Aurangabad under its project 'Green Aurangabad Clean Aurangabad'

Rural Development & Sanitation

Supported an Adivasi Community located at Karelpada, near Mumbai, by providing for basic infrastructure facilities

  Healthcare

Provided for medical facilities to ensure better care of new mothers and infants from the underprivileged and remote parts of West Bengal.

 

Major Findings:

The following are the major and notable findings regarding the top 6 sustainable banks of India:

Ø  The top banks primarily contribute towards Environmental Sustainability by adopting Green Practices, adopting afforestation through NGOs

Ø  Another important CSR focus area is Financial literacy, almost all the banks contributes through various initiatives in improving the quality of education and the literacy rate of children especially in the rural and underprivileged children.

Ø  Most of the banks contribute to rural development through their CSR initiatives to name SBI bank provides basic infrastructure to Athivasi community near Mumbai.

Ø  Banks are also concentrating in providing good health care facilities to women, children and people in weaker section.

Ø  Banks also contribute to the priority sectors like agriculture, renewable energy and MSME sectors.

Ø  Financial inclusion by providing financial products to under privileged, Economic weaker section, Rural population, Urban poor, and Migrant workers or other CSR initiatives by few banks.

Ø  Few banks are concentrating in skill training and livelihood enhancement of youth and women through various training programs.

 

CONCLUSION:

CSR in banking sector is taken seriously among the top sustainable banks in our country. The CSR activities focus on areas like Financial inclusion, improving quality of education, environmental sustainability, skill training of employability and rural development. CSR activities in the top sustainable banks are reported through their sustainability repots and are part of the business objectives and operations. They stand as a good role model for the other banks who are aiming to take up CSR initiatives in near future. CSR and Sustainable banking practices have also improved the image and good will of the banks among the stake holders.
REFERENCES:
DeepikaDhingra and Rama Mittal.(2014). CSR Practices in Indian Banking Sector
Eliza Sharma , Dr. Mukta Mani (2013) CSR an analysis of indian commercial banks
iibf.org.in/documents/Eliza_Sharma_Mukta.pdf
www.yesfoundation.in/about_us/index.html
https://www.axisbank.com/csr
IndusInd Bank - All Covers,(2016)
Kotak Mahindra Bank - Business Responsibility Report, (2014-15)
https://www.sbifoundation.in/




Wednesday, 16 August 2017

Guest lecture on recent trends in HRM


The Excel Management club of the Department organized a Guest Lecture on Recent Trends in Human Resource Management by Dr.R.Thenmozhi, Professor and Head, Department of  Management Studies, University of  Madras ,Chennai on 16th August,2017. Students of Business Administration attended and gained knowledge on the concept of recent practices in HRM.