a wide variation in the WCM efficiency [6] and there is consistency in the approach of the working
capital management within any given industry over a period of time. The subject of this analysis is about
this variation in WCM measures and how a WCM component impacts WCM efficiency in the
telecommunication industry. The analysis is done to get insight into how efficiently WCM is managed in
telecommunication industry and to find the approach the telecommunication firms more inclined to in
improving WCM efficiency.