Author : Viren Arora
The British School, Gurugaon, India
The current retail sector in India is expanding quickly, the current inventory management methods require transformation. In retail inventory management structure tagging and tracking is an important inventory management process. The current tagging and tracking process is people driven and therefore susceptible to human error. The present research is an exploratory experimental study which includes the analysis of 2 different approaches to small retail sector inventory management. The research will measure the effectiveness of both approaches by testing them in a controlled environment and evaluating their effectiveness based on the data collected. The findings of the research are that a significant difference was found in the completion of the tagging and tracking tasks performed by experienced professionals and IMI(Inventory management intelligence software), and furthermore a significant difference was also found between the accuracy of the tagging and tracking tasks performed by experienced professionals and IMI. The economic and business implications are valid in India especially due to preference of labour combinations over specialised physical capital based production combinations, due to low price of labour in India. There are several implications regarding technological advancement and structural changes in industry mainly relating to changing possible changes in the combination of production processes. In short, the future of the small retail sector is process driven and not people driven. However, structural changes in any industry impacts stakeholders, in this case the employees. Such technological advancement threatens jobs in future, pursuing in this direction may become an ethical concern, as this may cause structural unemployment.
Author : Adya Agarwal
Billabong High International School, Kanpur,
Women should be considered an asset for every nation and all economies should utilise their skills for economic development. In recent years, there has been an increase in the number of women entrepreneurs. Earlier, women were preoccupied with household chores and responsibility to look after the elderly and children, but now the scenario has changed. This has lowered the burden on women and allowed them to step out of the house to work. However, unfortunately, there are no changes in some people’s mindset. As a result, women are victims of gender biases.The present study focuses on the various factors like prerequisite skills, educational qualifications, fear of failure, financial constraints, patriarchal norms, and family oppositions and their effect on small home-run businesses. The data has been collected from a sample of 19 women residing in urban areas of metropolitan cities who run small scale businesses from their house. A questionnaire that was both qualitative and quantitative in nature was used.The study revealed that in most cases the women’s family was supportive ,however, family responsibilities (like taking care of children, managing the house, and attending to the guests) have adverse effects on their business. It can be concluded that societal norms and family structures have impacted various women differently - for some it was positive while for others it was negative or no effect. The research recommends that it is of utmost importance to recognise the skills you possess and make best use of it while establishing a business venture. The outcome of this study can be used by researchers, government, non‐governmental organisations, civil society, and the local community to motivate women to become entrepreneurs. This paper uses an interpretative approach to determine the factors that affect the establishment of small home-run businesses by women in India.