Exploring Personality Development Business In India

ABSTRACT:

There has been a growing trend to go for personality development in India in between students, businessmen, corporates, etc. This study research aims at exploring the unexplored market of personality development business in India. Apart from just exploring the market the research also tries to study the scope of personality development business in the near future. The research also tries to analyze the role; personality development plays in the overall success of a person. In addition to this, the intrusion of personality development in the formal education system is also under study.

INTRODUCTION:

Personality development is an industry that is consistently gaining importance. Corporate houses are investing heavily on HR training & development. [1,2,4,10,11,12] Schools and colleges are also accepting the need of personality development. [2,14]. There has been growing awareness & consciousness of personality development in the youths. Words like attitude, meditations, personality etc is even heard in the villages & towns. Spoken English classes are mushrooming like anything & also happily surviving.

Corporate houses have even taken acting training for their career development [2] Due to fast changing nature of the industries; business firms are making themselves more agile. They are opting more for personality development for rapid change adoption, increase innovation & creativity in the organization.[4] Managers are urging greater use of personal coaching[1] & the employers are vastly recognizing that personal development pays off [7,12,13]

Author Phil hasting conducted a research concluding that we need to be smarter in personality development [9]. Since most of these studies have taken place in western countries, which are economically and culturally quite different from India, it was felt appropriate to make observations in Indian context.

The purpose of this study is to explore the personality development as a great business opportunity in India. This research will include the current status of the personality development business in India, its flaws, needs, & opportunities beneath. It also includes the acceptability of newer products, what the customer expects.

Personality as defined by Leon G. Schiffman and L.L Kanuk," Those inner psychological characteristics that determine and reflect how a person respond to his or her environment."

"Personality development has great potential in India as there is not a single national level brand in India nor a single institute having its branches all over India".

This is a growing industry as most people are accepting that formal education is not enough and they need to do some extracurricular to win the competition. Also the greatest boost has happened due to t.v. & Modeling. Mr. International & Mrs. international competitions have given good glamour to personality development business by having Mr. & ms. Personality.

There aren't competent people in this industry & so there is a great demand of a national level branded institute with competent personality developers & branches spread all over India.

RESEARCH HYPOTHESIS:

The purpose of this study is to explore the personality development arena as a great business opportunity in India. This research will include the current status of the personality development business in India, its flaws, needs, & opportunities beneath. It also includes the acceptability of newer products [like speed-reading, memory techniques, adventure sports, etc], what the customer expects when he joins a personality development course, what is the affordable price range.

Many previous studies [Boric, Erin A., Office Pro, Mar98, Vol. 58 Issue 3, p20, 2p, 2 graphs, 1c] tell that personality development help in earning more & getting more successful in life. To find out that the persons in India believe the same thing, following hypothesis is taken

H1:Personality development leads to success in life & career

HR training is gaining importance in Indian corporates. Firms are investing heavily in personal development. They are recognizing rapidly that in order to survive we need to change rapidly & also to become a learning organization. To find out that the in India believe the same thing, corporates in India are investing into personal development, the following hypothesis is taken

H2: Personal development & consistently learning is gaining importance.

Since most of the current personality development institutes are thriving and giving all those stuff that formal education system lacks, and a large number of people are believing that formal education in India is insufficient we take the following hypothesis:

H3:Formal education alone is insufficient for success in life.

Conventionally the various areas of personality development are

Vedic mathematics, public speaking, teamwork, leadership, English speaking, attitudinal seminars, conversation techniques, speed reading, acting, adventure sports, mind power [hypnotism, meditations etc], yoga.

So that to know which areas would they give maximum weightage we make the following hypothesis.

H4: Each area of the personality development program is equally weighted.

METHODOLOGY:

The data used in this report is collected from doing a survey. A questionnaire is used for conducting research. Questionnaires are used primarily as there has been very less study done on this subject in India & specially related to our hypothesis. Since the research are having mostly yes no type questions, we can't use quantitative techniques like regression analysis, etc. here we have taken simple mean of the marks obtained in the question no.6.

DATA COLLECTION & ANALYSIS:

A survey had been done to study the responses of the people. Research questionnaire was used over sample sizes of 30 persons consisting of 15 males & 15 females.

Also the samples size were divided by

Male students-5

Female students-5

House wifes-5

Businessmen