NOLEGEIN Journal of Entrepreneurship Planning, Development and Management 2018 Issue 2 by Mba Journals

NOLEGEIN Journal of Entrepreneurship Planning, Development and Management eISSN: 2581-3900

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NOLEGEIN Journal of Entrepreneurship Planning, Development and Management Nolegein Journal of Entrepreneurship, Planning, Development and Management is focused towards the rapid publication in the following areas of

Focus and Scope of the Journal ! ! ! ! ! ! ! ! ! ! ! !

Entrepreneurship and future analysis Indigenous entrepreneurs Women entrepreneurs Entrepreneurship in developing countries Small scale industry Corporate entrepreneurship Online business and strategy Economy Policy Financial Econometrics International Business Project and Team Management Talent Management

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EDITORIAL BOARD MEMBERS Ashok Sen Gupta Assistant Professor Department of Management, School Of Management and Science, Gosainganj, Lucknow, India Dr. Saroj Kumar Dash Associate Professor Department of Marketing in Management, G L Bajaj Institute of Management and Research, Greater Noida, Uttar Pradesh, India Dr. Trilok Kumar Jain Director, EIE Department of Management-Ecosystem for Innovation and Entrepreneurship (EIE), Suresh Gyan Vihar University, Jaipur, Rajasthan, India Dr. Jnaneshwar Pai Maroor Assistant Professor MBA Department - Finance and Human Resource Management, Justice K.S. Hegde Institute of Management, Nitte, Karnataka, India Rajendra Sahu Professor Department of Supply Chain Management, Atal Bihari Vajpayee-Indian Institute of Information Technology & Management, Gwalior, India

Dr. Sheetal Mundra Assistant Professor Department of Economics and Entrepreneurship in Management, Jk lakshmipat university, Mahapura, Rajasthan, India Dr. K.Vidyavathi Professor Department of Business Administration, Sahyadri College of Engineering & Management, Mangaluru, Karnataka, India Dr.B.Rajasekaran Professor & Head Department of Management, Manonmaniam Sundaranar University, Tirunelveli, Tamil Nadu, India Dr. Mrs. Seema Shahaji Desai Associate Professor Department of Management, Rajarambapu Institute of Technology, Urun Islampur, Maharashtra, India Dr. Ansuman Jena Assistant Professor Department of Management, Centurion Institute of Technology, Bhubaneswar, Odisha, India

Dr.Abhijeet Sinha Assistant Professor Department of Management, SAM College of Engineering and Technology, Bhopal,Madhya Pradesh, India

Paresh Shah Professor Department of Commerce and Management, Rai University,Ahmedabad, Gujarat, India

Prof.P.Malyadri Principal Department of Management,Rayalaseema University, Kurnool, Andhra Pradesh, India

Dr. Purshottam Bung Enterprising Academic Leader and Professor Department of Strategy and Entrepreneurship in Management, Karnataka Law Society's Institute of Management Education and Research (KLS IMER), Belgaum, Karnataka, India

EDITORIAL BOARD MEMBERS Dr. Saurabh Srivastava Associate Professor Department of Management, AIMS IHE, Bangalore, Karnataka, India Dr. Mahajan Shrikrishna Shankar Professor Department of Commerce and Management, Shivaji University, Kolhapur, Maharashtra, India

Suchita Vishwakarma Assistant Professor Department of Management,School of Management Sciences, Kashimpur, Lucknow, India Dr.Abhijeet Sinha Assistant Professor Department of Management, SAM College of Engineering and Technology, Bhopal, Madhya Pradesh, India

Dr. Mohit Chandra Professor Academics Department of Hospitality and Tourism, National Council for Hotel Management and Catering Technology, Noida, Uttar Pradesh,

From the Editor's Desk Dear Readers, We would like to present, with great pleasure, the inaugural First volume of a new scholarly journal, NOLEGEIN Journal of Entrepreneurship Planning, Development and Management. This journal is part of the Business Management, and is devoted to the scope of present management issues, from different prespectives. This new journal was planned and established to represent the growing needs of marketing as an emerging and increasingly vital field, now widely recognized as an integral part of Business Management. Its mission is to become a voice of the Management community, addressing researchers and practitioners in this area. The core vision of NOLEGEIN Journal of Entrepreneurship Planning, Development and Management in MBA Journals is to propagate novel awareness and know-how for the profit of mankind ranging from the academic and professional research societies to industry practitioners in a range of topics in advertising in general. MBA Journals acts as a pathfinder for the readers community to published their papers at excellently, well-time & successfully. NOLEGEIN Journal of Entrepreneurship Planning, Development and Management focuses on original high-quality research in the Entrepreneurship Development, Problems and Difficulties of Entrepreneur, IPR Related Issues, Corporate entrepreneurship etc. The Journal is intended as a forum for practitioners and researchers to share the views of Entrepreneurship Planning, Development and Management in the area. Many researchers have contributed to the creation and the success of the Entrepreneurship Planning, Development and Management. We are very thankful to everybody within that community who supported the idea of creating an innovative platform. We are certain that this issue will be followed by many others, reporting new developments in the field of Entrepreneurship Planning, Development and Management. This issue would not have been possible without the great support of the Editorial Board members, and we would like to express our sincere thanks to all of them. We would also like to express our gratitude to the editorial staff of MBA Journals, who supported us at every stage of the project. It is our hope that this fine collection of articles will be a valuable resource for Management readers and will stimulate further research into the vibrant area of Entrepreneurship Planning, Development and Management. Puneet Mehrotra Managing Director

Contents Research Interpretation on Assimilative Functionalism of FDI in Indian Insurance Sector

Manisha Gahlawat Impact of Demonetization

Dr. Punam Devi Analysis of Job Management Techniques and Development of a Lean Production Methodology for Reduction of Counterproductive Content and Time in an Automobile Industry

Aklesh Bhalerao, Subodh Singh, Vipul Upadhayay A Connection between Entrepreneurship and Growth of a Country

Tanveer Jahan The Effect of Remittance of the Economic Growth of Nigeria: An Econometric Approach between 1981 and 2014. Elegbede Ade Micheal, Ademulegun

NOLEGEIN Journal of Entrepreneurship Planning, Development and Management eISSN: 2581-3900 Vol. 1: Issue 2

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Research Interpretation on Assimilative Functionalism of FDI in Indian Insurance Sector Manisha Gahlawat* Department of Management, Ganga Institute of Technology and Management, Kablana, Jhajjar, Haryana, India

ABSTRACT As a largest democracy India is no doubt a developing economic ecology and many economists consider it an attractive hotspot for financially inclusion, in particular generalization specially for rapidly growing and changing insurance market spatial space. Indian insurance industry is one of the sunrise sectors with huge growth potential. Foreign direct investment pivoted deceive functionalistic role in the economic development of the country. However, Foreign Direct Investment (FDI) is injected in the insurance spatial space, and despite many years of regressive prejudice, the correlated regulations are still not paradigm shifted and there are still lots of pre-requisites. Foreign Investors are interpreted India, ready for a piece of the action in the insurance market, but there are still plethora of uncertainties, restrictions and potential socio-economic risks. However, the Government is gradually taking steps to liberalize the sector. Due to economic liberalization initiated few years ago have evitable bringing in new investments from global giants and the government was hard to hypothetical generalized the facilitate global integration by assimilating trade retrospections for the free diffusion of technology, intellectual and financial imperialism. Thus, liberalization of insurance creates an environment for the generation of long term contractual funds for infrastructural investments. This research paper’s objectives are to investigate the Indian insurance industry and review present policy regulations with an ideological perspective of foreign institutional investors so as to gain an understanding of the current position on FDI, as well as an overview of the Indian Policy and Regulatory Environment. Keywords: economic, foreign direct investment, insurance, investment, liberalization

INTRODUCTION A milestone was achieved when the nation decided to privatize the industry along with requisite regulations. The industry functionalism comes under a monopolistic sphere for several decades thereafter. However, other stigma textured such as least reach and penetration of enterprise and deteriorating servicing standards. Indian insurance sector was liberalized in 2001. Liberalization has entailed to the correlation of the largest insurance companies in the world, who have taken a strategic view on India being one of the top precedence emerging markets. The

Insurance industry in India has endured transformational changes over the last 12 years [1]. FDI in insurance remains a widely contested and burning issue in India’s economic and political environment. Paradigm shifts in the regulatory environment had path-breaking impact on the development of the industry. While the insurance industry still melees to proceed out of the shadows cast by the challenges and uncertainties of the last few years, the strong essentials of the industry promise well for a roadmap to be tired for justifiable long-term growth.

NOLEGEIN Journal of Entrepreneurship Planning, Development and Management eISSN: 2581-3900 Vol. 1: Issue 2

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Impact of Demonetization Punam Devi Department of Management, Ganga Institute of Technology and Management, Kablana, Jhajjar, Haryana, India

ABSTRACT The French coined the term Demonetize in 1850–1855, and many countries have used the demonetization policy with restriction and discomfort as it disrupts both the economy and population present study is an event study. Demonetization in India was an historical decision and present paper is analysis of immediate change in important macro variables due to demonetization. Paper calls for further study on effect of demonetization too which will be depending upon long term changes due to the event. The aim of the action was to curb corruption, counterfeiting use of high denomination notes for terrorist activities and especially the accumulation of “black money”, generated by income that has not been declared to the tax authorities. Slowdown in economy, failure in checking on black money and inconvenience to the mass had been hot news for last some months. Here is an analysis based on data to test the authenticity. In different sections of the paper we will discuss various issues related to the event. Keywords: demonetization, digital payments, GDP, money supply

INTRODUCTION Decrease in money supply was an obvious and immediate result of demonetization. The demonetization, by removing 86 per cent of the currency in circulation and was very severe contraction in money supply in the economy [1]. As we can see in Figure 1 that currency which has been a major medium of transaction is continuously and moderately increasing over time. But suddenly due to demonetization public has to submit currency notes of Rs.500 and Rs.1000 which are not legal tender now. Public could exchange old notes with new one so currency with public dipped and with banks it is surged. Situation is severed till February 2017 due to improper management to mitigate the woes. From February to June there is speedy recovery but yet not reached. A sudden attack on cash with public was aimed at nullify the black money which was stored in the form of big dimensioned

notes. But a big dip in currency available with public could also affect the level of demand in economy because currency is widely used for transaction in India. In Figure 2, slight increase in demand deposits and a substantial increase in time deposit is exhibited. Fixed deposits may be a better option for people who deposited all their cash with banks instead of going for another investment option due to short term uncertainty created in economy. Factor of indignity makes the money supply unique, though immediately after demonetization bank credit was stagnant but after December we can see increasing trends and could be expected to be compensating the supply of in economy. Money supply is an important variable affecting economy [2] and composition of money is also equally important. Demonetization affected availability of currency which is an important part of overall money supply. Currency is important component of narrow money as

NOLEGEIN Journal of Entrepreneurship Planning, Development and Management eISSN: 2581-3900 Vol. 1: Issue 2

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Analysis of Job Management Techniques and Development of a Lean Production Methodology for Reduction of Counterproductive Content and Time in an Automobile Industry 1

Aklesh Bhalerao1*, Subodh Singh1, Vipul Upadhayay2

Scholars, Shri Dadaji Institute of Technology and Science, Kahndwa, Madhya Pradesh, India 2 Professor, Shri Dadaji Institute of Technology and Science, Khandwa, Madhya Pradesh, India

ABSTRACT This study work provides the methodology containing the management techniques for the Managers to improve the ability to manage time effectively, and simultaneously identifying and encountering the work content which is reasons to losing the time in ineffective process and at last producing nonproductive results. Also, the thesis methodology gives the idea to grow the performance potential with more effective time utilization and will increase organizational productivity. Keywords: job management, techniques and development, production methodology, reduction of counter productive content and time, automobile vendor industry

INTRODUCTION The assistance of assets as men, machine, materials and cash each association plays out its assignment. The use of labor and different assets to gives yield. As opposed to different assets are futile and can't be deliver anything if labor isn't accessible. The diverse components of generation labor have the most astounding need. It is a most critical factor of generation industry. On the off chance that, absence of regard for alternate factors those are non-living may bring about decrease of benefit to some degree. Be that as it may, overlooking the human asset can end up being awful. In a nation where human asset is bottomless, it is a pity that they stay under-used. In wording of Oliver Sheldon "No industry can be rendered effective inasmuch as the fundamental actuality stays unrecognized that is human." The general population at work includes vast and distinctive instructive or education guidelines. These people in the work put display not just comparative conduct examples and attributes to a

specific degree yet additionally they demonstrate much disparity. Innovation alone, nonetheless, cannot achieve wanted change in monetary execution of the nation unless human potential is completely used for creation. The part of same individual at different points of time, it is because human behavior is highly unpredictable. It differs not only from individual to individual despite biological and cultural similarities, human beings not only differ in their appearance but also in their capabilities based on their background, training and experience. Human resource or a person at work is the most important component of the undertaking. Management cannot afford to ignore human resource at any cost. Management is the process of efficiently getting activities completed with and through other people. Qualitative discussion on the background is growingly important. Lean practices achievement of objectives whereas quantitative analyses of different

NOLEGEIN Journal of Entrepreneurship Planning, Development and Management eISSN: 2581-3900 Vol. 1: Issue 2

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A Connection between Entrepreneurship and Growth of a Country Tanveer Jahan* Naraina College of Engineering & Technology, Kanpur, Uttar Pradesh, India

ABSTRACT Entrepreneurship is the process of creating wealth by innovation, risk taking, investing in new sectors, and aggregating all the factors of production in a new pattern. This study is focused on the contributions made by entrepreneurs and to find any relationship between entrepreneurship and the growth of the country. We used secondary data analysis for this purpose. Keywords : enterprises, entrepreneurship, technology.

INTRODUCTION Globalization has given birth to a whole new generation of entrepreneurs in India, probably in the IT industry has notice more entrepreneurs in India especially BPO, KPO, and data centre businesses. Those entrepreneurs who have chosen different way to accelerate their businesses are more successful rather than one who have opted a traditional path to convert their ideas into business. An entrepreneur must have an ability to think differently and to do the different thing at the right time. In a seminar, I noticed that there were new ideas, but a good route was missing to convert their ideas into a profitable one. An entrepreneur must seek ways to transform their ideas effectively in businesses. Twenty-first century has opened new opportunities for entrepreneurs to create wealth. Internet and revolutions in telecom industry are also playing important role for entrepreneurs. We have seen a tremendous combination of both the industries from startups to an established business. Technology has changed the landscape of the whole operating field. Small and medium enterprise (SME) sector too is

quickly gearing up to meet the emerging challenges in the global economy through constant innovation and adoption of cutting technology to provide superior customer solutions. Small sectors consist of small entrepreneurs and growth in small sectors depict the condition of employment in the country and it directly relates the growth of the country and per capita income. Role of Innovating Entrepreneur in Economic Growth During study I have found so many researches that encourage other entrepreneurs to become an innovative entrepreneur. Here, I have mention few of them. Flipkart is a very successful startup which I have seen ($12.5 billion as of March 2015). Flipkart was started by two IITians; before Flipkart, they worked for Amazon. ParallelDots Parallel Dots have a team of techies, their algorithm automatically searches important events based on the user’s interest theme. Wheat is a bungler-based company, which provides augmented-based technology

NOLEGEIN Journal of Entrepreneurship Planning, Development and Management eISSN:2581-3900 Vol. 1: Issue 2

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The Effect of Remittance of the Economic Growth of Nigeria: An Econometric Approach between 1981 and 2014. Elegbede Ade Micheal1,*, Ademulegun2 H.O. 1,2

Department of Business Administration and Management, Rufus Giwa Polytechnic, Owo, Nigeria, Africa

ABSTRACT This current investigation broke down the effect of settlements inflow on the development of Nigerian economy utilizing auxiliary information covering between 1981 and 2014. The wellsprings of the information utilized included authority production of the World, Central Bank of Nigeria measurable release 2014 and other applicable distributions. Engel-Granger Causality Regression Technique was utilized to examine the information. The Results of information broke down demonstrated that settlement inflow has been on the expansion during recent decades with a long run beneficial outcome. It likewise demonstrated that settlements, per capita wage, speculation and time were the positive and noteworthy variables affecting yield real gross domestic product (RGDP) while outside direct venture foreign direct investment (FDI) fundamentally impacted yield (RGDP) adversely. It was prescribed that nations accepting settlement ought to give an empowering monetary condition, for example, stable trade rates, essential physical framework, enhanced market incorporation, solid money related and different organizations, great administration basically, conditions that can prepare for advancement and prepare it enough to profit by this outer boost. Keywords: economy growth, impact, inflow, remittance

INTRODUCTION As indicated by Anyanwu and Erhijakpor [1], Nigerian is the biggest beneficiary of settlements in Sub-Saharan Africa. They revealed that the nation gets about 65% of formally recorded settlement streams to the locale and 2% of worldwide streams. The National Bank of Nigeria (CBN) detailed roughly US$ 2.26 billion in settlements for 2004. The wonder of Nigeria exiled person, considered as an escape from hardship on the home front and a consumption of human capital is by one means or another paying off for the nation. This is in perspective of the disclosure that Nigerians abroad developed the economy by an astounding S 7billion in the year 2008 and that Nigeria is the 6th

most elevated goal of settlement from its nationals living in the Diaspora [1]. Settlements reflect somewhat work, working in the worldwide economy and have been appeared to clarify mostly the association amongst development and combination with the world economy [2]. Settlement has turned into a vital wellspring of income both for government through assessment and expenses and for families. At family unit's levels it helps in increment of salary and utilization smoothing [3] Kannan and Hari expands sparing and resource collection; [4] and enhance access to wellbeing administrations and better sustenance [5] and to better training. Settlements have turned out to be less unpredictable, less