Vikalpa: The Journal for Decision Makers

Most data processing systems in the world use two digits to represent the year number in a date field. This representation will lead to errneous results as the current century draws to a close. The consequences of this year 2000 (Y2K) crisis are very alarming. Even more alarming is the fact that a significant number of managers are still not aware of the seriousness of the Y2K problem. If not tackled on a war footing, this bug might cause some organizations to go out of business. This paper by Venkata Rao discusses those aspects of the Y2K problem which are of interest to managers as they have a key role to play in the initiation of a Y2K conversion project in their organization and in defining its scope. According to him, many lessons are to be learnt from this crisis by the IT community, and, in future, new design strategies should be used to prevent this crisis from recurring.

As the year 2000 approaches⁄ software companies the world over are grappling with a new challenge: the millennium bug. This paper by Montazemi discusses the background and the issues involved and suggests a plan of action for surving the year 2000 computing crisis.

In recent years⁄ the Indian economy has undergone a number of reforms, resulting in a more marketoriented economy. These reforms have also seen the emergence of a growing middle class with a high disposable income. This increased prosperity has led to increases in demand for both durable and nondurable consumer items. This paper by Tolar⁄ Hyland, and O'Mara reports upon a study of Australian consumers that is designed to provide manufacturers, retailers, and distributors of nondurable goods and services with an insight into what information influences consumers to purchase these items. In doing so, the paper also reports upon India's developing consumer markets. The results of the survey are then applied to the Indian experience with a view to presenting Indian managers with an insight into what determinants consumers take into consideration when purchasing non-durable goods and services.

Meta-analysis is a powerful statistical technique that allows social scientists to cumulate research findings across studies. Marketing researchers have used meta-analysis to measure the effectiveness of marketing mix strategies⁄ e.g., advertising, pricing, and promotion. Typically, researchers determine an average elasticity as a measure of the strategy to influence sales, and try to demonstrate causal relationship between the elasticity and some moderator variables. However, extreme caution should be exercised before making any causal inference from meta-analytic results. For example, the variance of an elasticity may be biased due to the sampling error in each estimate. Hence, the sampling error variance must be measured and accounted for before attempting to unravel any causal relationship between the elasticity and moderator variables. In this study by Bandyopadhyay⁄ a meta-analysis of advertising elasticity is done to demonstrate how to correct for the sampling error variance and measure the effect of moderator variables on elasticities. The results, according to the author, can help brand managers make useful inferences about the overall advertising effectiveness.

In recent years, the importance of competitiveness has been increasingly recognized. In this article⁄ Momaya discusses different levels of competitiveness and reviews its significance at the industry level. To enhance the understanding of the dynamics of competitiveness, it is divided into three facets: assets, processes, and performance. A methodology to evaluate the relative competitiveness at the industry level is developed and listed in the context of the construction indus try in Canada, Japan, and the United States. While presenting the findings of the international project, Momaya confirms the important role strategic management processes play in enhancing competitiveness and stresses on the need to evaluate international competitiveness of crucial Indian industries.

Traditionally, managerial effectiveness research has focused on downward influ ence. However, a manager needs to have adequate amount of upward influence to accomplish his objectives. The present study by Singh explores the ways through which middle managers influence their immediate superiors. Data obtained from 110 respondents were subjected to principal components factor analysis. Five factors of influencing the superior were found, namely, information sharing, expertise, manipulation, confrontation, and personalized relationship. The findings are discussed in the light of the superiorsubordinate relationship and in the Indian context. Directions for future research are also suggested.

When you hold put options on a convertible bond, it is considered to be a wonderful opportunity to profitfrom the upside potential of the underlying security while enjoying downside protection. A Singaporebased portfolio manager of a London-based fund has investments in Euro convertibles with put options of a large Malaysian timber company. However⁄ he is jolted out of his sense of complacency about his put options when he learns that the put option may spell bankruptcy for financially weak companies like Aokam Perdana Berhad. So⁄ aren't put options safe after all?

Readers are invited to send their responses on the case to Vikalpa Office.

The July-September 1997 issue of Vikalpa had featured a Management Case titled ‘Blair Water Purifiers India’ by James E Nelson which dealt with international marketing strategy and current business conditions in India particularly in the field of home water purification devices.

In this issue, we feature three responses on the case by Regi V Mathew, V Sanal Kumar, and Zillur Rahman.

Development of small scale industrial sector and providing multiple socio-economic benefits is one of the priorities of Indian planning. Though a number of measures were introduced to sustain healthy growth of this sector⁄ a significant k -portion of small scale units have started Ming sick. Consultants from various technical consultancy organizations⁄ small industry service institutes⁄ and private firms do play a major role in preventing and curing sickness.

Based on a field study of 20 problematic units⁄this paper by Chhikara evalu ates certain important aspects of the consulting profession such as hiring consultants and utilizing their services; in volvement and commitment of promoters; the role of financial institutions and banks; overall impact of consultancy services; major gaps and limitations⁄ and additional requirements needed for making consultancy services more result-oriented.

This section features abstracts of articles covering empirical studies, experiences, ideas, and theories published in Indian and international journals. Sponsored by the Indian Council of Social Science Research, New Delhi, this service is intended to facilitate Indian management research.

Authors desirous of having their publications considered for inclusion in this feature may please send reprints of their articles to Vikalpa Editorial Office.