Mar'19
Focus
Organizations are increasingly getting conscious about the quality of products and processes. Motivation to sustain quality is encouraged by awards such as the Deming Prize given by international agencies. In the landscape of TQM, this certification is awarded to those organizations which show exemplary improvement in productivity, design, product development, delivery and customer interface that includes supply and recall of products. The first paper of this issue, "Holistic Approach to Quality Management: A Case Study of the Indian Industry" by Sanjiv Gupta, looks at three Indian organizations and presents how they follow quality practices using the Deming criteria. The analysis reveals that these three organizations are successful due to their strict adherence to the Deming guidelines.
Food security has been a major challenge faced by developing countries such as India. Policy implementation issues have plagued the nation. To overcome hunger and malnutrition in the country, governments have launched several programs and spent large portions of subsidies. In a span of 30 years, subsidies have increased from 2,850 cr (1991) to 169,323 cr (2018-19). Despite these huge expenditures, India ranks 103 out of 119 countries in the Global Hunger Index. The second paper of this issue, "Enhancing Food Security Through Food Subsidy: An Economic Analysis" by Anuradha and Tilak Raj, focuses on the impact of subsidies in improving nutritional security for the poor, especially those at the bottom of the pyramid. Using secondary data, the authors analyze the impact of food subsidies on nutrition (calorie, protein intake, etc). The results of the analysis show that nutrition levels, especially among the poor in rural and urban areas, continue to be far from satisfactory.
The third paper "Service-Dominant Orientation in Two-Wheeler Industry in India" by Agrim Verma and Monica Bedi, focuses on service dominant orientation in the two- wheeler industry in India. The authors take six dimensions, namely, relational interaction, ethical interaction, individuated interaction, empowered interaction, concerted interaction and developmental interaction, to assess the orientation. To capture the differences, the authors select demographic variables such as gender, educational qualification and income. The results of the analysis do not provide conclusive evidence for differences across the select demographic variables, although there is partial support for some sub-dimensions.
Does presence of women on corporate boards affect firm performance? Have they succeeded in breaking the 'glass ceiling' to make it to the top of corporate echelons? These questions continue to confront the corporate world where traditionally senior roles have been dominated by men. The fourth paper, "Promoting Gender Diversity in the Boardroom: Exploring Multiple Perspectives" by Shreya Sharda, presents multiple perspectives on the topic. The paper aims to understand the effect of regulation (especially the coercive approach implying introduction of quotas) on financial performance. Broadly, the literature reviewed by the author appears to support the 'business case', which suggests that greater gender diversity has a positive impact on financial performance through better monitoring by boards, provision of special skill sets and complementary knowledge for effective board actions.
The fifth paper, "An Analysis of Indian Cement Industry Using Structure Conduct Performance (SCP) and Efficient Structure (ES) Paradigms" by Manoj K Sharma and Arpit Khurana, analyzes the performance of the cement industry in India by looking at two approaches: SCP and the ES hypothesis. Taking a sample of 11 firms (data pertaining to the years 2003-2017), data was analyzed by taking measures such as ROA, CR and market share (using SCP), while advertising and R&D expenditures served as proxies to validate the Efficient Structure hypothesis. The results of the study indicate that the structure conduct and performance hypothesis for determining the profitability of an industry is empirically supported in the case of Indian cement industry as there is a significant relationship between structure and performance.
An industry or firm in today's hypercompetitive business environment thrives on the efficiency of supply chain. The sixth paper, "Supply Chain Performance Measurement: A Scale Development" by Kritika Rana and Sanjeev K Sharma, presents a scale development process to measure the efficacy of the supply chain. The authors follow the established procedures for scale development and propose a scale that they believe can assess the efficiency and effectiveness of the supply chain in the pharmaceutical industry.
Most consumer studies assess customer satisfaction after purchase. Very little attention is given to prepurchase expectations. The seventh paper, "Perceived Recourse and Redress Risk: Is it Important in Forming Perception of Satisfaction?" by Purva Kansal and Suriti Goel, addresses this issue by way of an empirical study. According to the authors, customers anticipate greater satisfaction if they perceive a higher value from the use of that product or service. The perceived value would be higher if perceived risk is lower from that purchase. The study uses an extension of perceived risks known as Perceived Recourse and Redress Risk (PRRR) and analyzes the effect of PRRR on perceived value and its subsequent effect on anticipated satisfaction. A sample of 600 respondents across 5 cities was chosen for this study. The results indicated that PRRR had a significant impact on perceived value, which in turn significantly influenced anticipated satisfaction.
The final paper of this issue, "A Study on Consumer Preference Towards Sustainability and Post-Use Consumption of Product Package in Chandigarh" by Ankita Bhardwaj, examines an important area of consumption, namely, consumer preferences towards sustainable consumption and post-use consumption of product packaging. Consumers and marketers alike have been largely indifferent to the wastage that takes place during and after the consumption of the product. The amount of environmental degradation due to irresponsible consumption has affected all life forms on the earth in an irreversible manner. Such outcomes have led marketers to think about sustainable and responsible consumption. The author try to assess the manner in which environmentally-conscious customers prefer products that are environmentally sustainable and the extent to which post-use consumption of product packaging influences their purchase decisions. The analysis reveals that consumer preference is dependent on the level of involvement with the environment. Consumers who are more involved tend to focus on sustainable packages rather than unsustainable packages or the ones that are non-biodegradable.
Post-use consumption is an important consideration for the consumers, and for this purpose, they prefer a healthier variant of packaging material.
Holistic Approach to Quality Management: A Case Study of the Indian Industry
This paper traces the evolution of quality in the field of production and operations in the manufacturing industry, especially the trajectory of growth from an abstract idea to a fully-developed action plan. Through the diachronic approach that examines the four industrial revolutions, it establishes the evolution of quality from 'inspection' to 'assurance'. After the Indian market was thrown open in 1991, the Indian industry evolved in order to keep in step with global competitors. Since then, operations management teams have studied and adopted various methodologies to improve the quality of their products. The industry has been working towards winning prestigious quality awards which can bear testimony to the quality standards they follow. The Deming prize is one such award, which certifies that the systems being followed by the organization can sustain and improve the quality of the product. The study follows the Deming guidelines in order to understand the process which industries maintain to win this award. The author has studied three Deming award-winning organizations to understand the basic conditions to be fulfilled before vying for the Deming. This study will help managers and engineers identify gaps in the quality systems they follow. The implications drawn by the author are directed towards any organization interested in achieving process and product quality across the board.
Enhancing Food Security Through Food Subsidy: An Economic Analysis
The paper is an attempt to study the role of food subsidies in enhancing food security in India. The Government of India spends a large portion of its subsidies on food to eradicate hunger and malnutrition from the country. The focus of the present study is to analyze the trends in volume of food subsidies in the post-reforms period and examine the contribution of these subsidies to nutrition intake of the bottom poor population in India. This study is based on secondary data collected from various sources such as India Stat, Economic Survey and National Sample Survey Organization (NSSO). The results of the study indicate that the food subsidies provided by the Indian government have increased over time. The increased food subsidies have the highest contribution to the intake of nutrition among poor both in the rural and urban areas. There is an upward trend in per capita per day intake of calories and protein in both areas. However, it also reveals that per capita per day calorie intake was much lower than the nutritional norms in both areas. Finally, the study concludes that food subsidies are the major source of nutritional intake for the poor and it has a significant impact on enhancing food security.
Service-Dominant Orientation in Two-Wheeler Industry in India
The recent perspective on customer orientation in marketing world focuses on service-dominant orientation. Service-dominant orientation involves an interactional role of the customer by emphasizing on the importance of customer as cocreator of value. The paper aims to study service-dominant orientation in two-wheeler industry in India, and also the perception about service-dominant orientation in two-wheeler industry across gender, educational qualification and monthly income. The study is descriptive in nature. The authors use the service-dominant orientation scale consisting of six distinct dimensions, namely, relational interaction, ethical interaction, individuated interaction, empowered interaction, concerted interaction and developmental interaction. The test used for analysis includes one-way ANOVA. The results indicate that service-dominant orientation plays a critical role in enhancing buyer-seller relationship. The involvement of customers as value cocreators improvises the whole process of transactional exchange. Services play a significant role in two-wheeler industry in India because of high levels of competition and rivalry between players in the industry.
Promoting Gender Diversity in the Boardroom: Exploring Multiple Perspectives
Gender diversity has been the most researched aspect of board diversity, which consists of other observable dimensions like age, ethnicity and unobservable dimensions like attitudes and backgrounds. The possibility of women breaking the proverbial 'glass ceiling' to occupy senior leadership roles is still considered low in countries around the world, the underlying reason being the larger issue of gender inequality. A large body of academic literature has examined the relationship between the presence of women directors on boards and its impact on financial performance of an entity or firm value. Many of these studies have reported positive associations, contrarily some studies have found evidence of no significant relationship or a negative gender diversity-firm performance relationship. Yet another stream of research focuses on theoretical perspectives and characteristics of women on corporate boards. The objective of this paper is to assess the 'business case for diversity' and to review significant studies related to this theme. It considers multiple perspectives on gender diversity along with global contemporary research. The paper also puts forth the varied legislative initiatives adopted by different countries to address the under-representation of women in business. Broadly, the literature reviewed appears to support the 'business case' which suggests that greater gender diversity has a positive impact on financial performance. However, a closer look reveals that the direction of the gender diversity-firm performance relationship is affected by methodological issues, mediating variables/processes and contextual factors.
An Analysis of Indian Cement Industry Using Structure Conduct Performance (SCP) and Efficient Structure (ES) Paradigms
This paper focuses on the role cement industry plays in the Indian market and on the market Structure, Conduct, Performance (SCP) model. The paper includes a sample of top 11 cement firms in the Indian market. Annual and pooled data for a period of 15 years (2003-2017) is analyzed in the present study. The measure applied for the firm's performance is Return on Assets (ROA). Concentration Ratio (CR) and market share are utilized to measure SCP hypothesis; advertising and R&D are used along with market share to check Efficient Structure (ES) hypothesis. The results indicate that market structure plays a significant role in determining the performance of cement firms.
Supply Chain Performance Measurement: A Scale Development
Supply Chain Management (SCM) being an interdisciplinary concept lacks a consensus on its definition, which has further aggravated the problem of measuring the performance of a supply chain. In order to manage a supply chain effectively, it is important to measure its performance. But the metrics that are used to measure the performance of a supply chain vary with the industry. Thus, there is a dire need to develop a supply chain performance scale specific to the industry under consideration, which in this case is the Indian pharmaceutical industry. A total of 91 items were generated after careful review of literature encompassing both financial/non-financial measures and internal/external measures. Data was collected from 153 respondents through the medium of Google Forms. Eight factors were extracted on applying Exploratory Factor Analysis (EFA); Maximum Likelihood Estimation (MLE) and Cronbach's alpha for these factors ranged from 0.60 to 0.90. Further, convergent and discriminant validity was achieved on applying Confirmatory Factor Analysis (CFA) on another set of data comprising 103 respondents.
Perceived Recourse and Redress Risk: Is it Important in Forming Perception of Satisfaction?
Customer satisfaction as a variable has been an area of interest to marketers for decades. But satisfaction only measures the post-purchase quality and performance of a product or service given the pre-purchase expectations. However, with the changing Indian landscape, it is very important to measure perception of satisfaction before purchase in order to enhance the buying process of customer as well as increase the post-purchase satisfaction level. Therefore, anticipated satisfaction is of more interest to the marketers and academicians in recent times. The customer will anticipate more satisfaction if he/she perceives a higher value from the use of that product or service. The perceived value would be more if the perceived risk is less from that purchase. This study uses an extension of perceived risks known as the Perceived Recourse and Redress Risk (PRRR). The aim of the study is to analyze the effect of PRRR on perceived value and its subsequent effect on anticipated satisfaction. The study was conducted on a sample of 600 respondents across 5 cities. Structural equation modeling was applied to analyze the data. The results indicated that PRRR had a significant impact on perceived value which in turn significantly influenced anticipated satisfaction. The study would help add to the existing database of perceived risk literature in India. Furthermore, it will help understand the different dimensions of customer service that the customer feels very important to be present in the redress system of the retailer.
A Study on Consumer Preference Towards Sustainability and Post-Use Consumption of Product Package in Chandigarh
The purpose of this study is to understand the consumer preference for sustainable package designs and also between glass and plastic packages. The study also seeks to understand to what extent the environmentally-involved consumers are willing to pay more for sustainable products and the importance of post-use consumption for the consumers. Random sampling method is adopted for getting the desired responses from the target sample. Consumers who are environmentally-involved prefer reusable packages in comparison to one-time use packages. The higher the level of environmental involvement and positive attitude towards the environment, the more pro-environment decisions would be made by the consumers provided they are given full information. Consumers' preference for verbally designed packages is highlighted in the study. This study adds to the current body of literature on green marketing and specifically on the emerging area of product packaging.