Editorial

This year we invited seven new Associate Editors from IIM Bangalore to our panel -- Professor Rupa Chanda from Economics & Social Sciences, Professor Jishnu Hazra from Productions and Operations Management, Professor Rajalaxmi Kamath from Public Policy, Professor Ishwar Murthy from Quantitative Methods and Information Systems, Professor Rejie George Pallathitta from Corporate Strategy and Policy, Professor Srinivas Prakhya from Marketing, and Professor Srinivasan Rangan from Finance. Academics and researchers of repute in their own right, the journal stands to benefit immensely through their guidance, suggestions and involvement in processes. I would like to thank all our Associate Editors, our Editorial Advisory Board and our Editorial Review Panel for their contributions to the journal, which have enabled it to grow in strength over the years.

In the first article of this issue, "Implications of Foreign Direct Investment in India's Retail Sector", Professor Murali Patibandla analyzes the net effects of allowing FDI into the retail sector in India. The author shows the link between adoption of efficient supply chain by modern retailers and economic growth by contributing to the surplus of stakeholders such as farmers, manufacturers and consumers, through reduction of average transaction costs and information costs of market exchange. He elaborates that foreign players can introduce advanced supply chain and logistics systems, and adapt them to Indian conditions, which could generate externalities to Indian suppliers and retailers both modern and traditional , as well as increase the export competitiveness of domestic suppliers by introducing them to the global supply chain. He then analyzes Wal-Mart's model of retailing and its supply chain to bring out its implications on the Indian retail sector.

In "Structural Equation Modelling of Determinants of Customer Satisfaction of Mobile Network Providers: Case of Kolkata, India" Professor Shibashish Chakraborty and Professor Kalyan Sengupta outline that customer satisfaction is a real challenge in a market that is growing fast, becoming crowded, and having constraints enforced by a regulatory body. Based on literature review, the paper makes propositions of four constructs as determinants of customer satisfaction - service quality such as output quality and functional quality; perceived value; price; and flexibility such as ample choice of consumer promotion schemes and latest services like multimedia services, mobile internet services and 3G. The study suggests that generic requirements (an aggregation of output quality and perceived value), price, and flexibility are indicated as the determinants of customer satisfaction in Kolkata.

For meaningful evaluation of profit efficiency of banks, Mr A.R. Jayaraman and Professor M.R.Srinivasan put forth that banks should be credited for performing assets (desirable outputs) and penalized for non-performing assets (undesirable output). Seeking a novel approach, their paper analyzes the profit inefficiency of banks in India factoring desirable/undesirable outputs using the Nerlovian profit indicator approach, for the period 2005-2012. The findings reveal that profit inefficiency is primarily attributed to allocative inefficiency with minimal impact of technical inefficiency; there is a suggestion of the need to focus on branch operational cost, non-performing assets and non-interest income to enhance profit efficiency; in addition it is suggested that work force played an important role in productivity of banks.

In the Interview "Innovation and Adaptation: Continuing the Infosys Journey", Professor Sudheer Gupta and Professor Hristina Dzharova lay out the background of the software and services industry and the challenges faced by its major players, and follow up with an interview with Mr. S. D. Shibulal, Co-founder, CEO & MD of Infosys (as on December 20, 2013, when the interview took place), where he speaks on the company's ability to sustain its founding values and strategic direction during a period of change and adaptation.

In this issue's round table, Professor R Srinivasan defines and explores the evolution and boundaries of the management consulting industry; its legitimacy and value addition, the emerging challenges and the Indian situation. This is followed by a panel discussion where experts from the industry discuss issues connected with the landscape of consulting firms in India, their differentiation and positioning; relationships with clients; and the processes for managing human and knowledge assets.

The IMR Doctoral Conference is being held on December 22 and 23, 2014 and we are carrying an announcement in our back pages. Apart from the invited talks and paper presentations, we have planned a workshop for the benefit of research scholars and doctoral students. I look forward to your participation in IMRDC 2014.

With best wishes to all of you for a happy and prosperous new year 2015,

Nagasimha Balakrishna Kanagal
Editor-in-Chief
IIMB Management Review
India
Email address: eic@iimb.ernet.in