Flexibility, Innovation, and Sustainable Business

354 Pages·2022·12.959 MB·English

by  Ramesh Anbanandam, Santosh Rangnekar

Flexible Systems Management
SeriesEditor
Sushil
DepartmentofManagementStudies,IndianInstituteofTechnologyDelhi,New
Delhi,India
EditorialBoard
GerhardChroust,InstituteforTelekooperation,JohannesKeplerUniversityLinz,
Austria
JuliaConnell,UniversityofNewcastle,Newcastle,NSW,Australia
StuartEvans,IntegratedInnovationInstitute,CarnegieMellonUniversity,USA
TakaoFujiwara,ToyohashiUniversityofTechnology,Toyohashi,Aichi,Japan
MikeC.JacksonOBE,UniversityofHull,UK
RashmiJain,MontclairStateUniversity,Montclair,NJ,USA
RamarajPalanisamy,St.FrancisXavierUniversity,Antigonish,NS,Canada
EdwardA.Stohr,StevensInstituteofTechnology,NJ,USA
The main objective of this series on Flexible Systems Management is to provide a rich collec-
tionofresearchaswellaspracticebasedcontributions,fromdifferentcontexts,thatcanserveas
referencematerialinthisupcomingarea.Someofthesebookswillbepublishedinassociation
with‘GlobalInstituteofFlexibleSystemsManagement’.Itwillhelpincross-fertilizingideasfrom
differentperspectivesofflexibilitysoastoconsolidateandenrichtheparadigmofflexiblesystems
management.Theaudienceforthevolumesunderthisseriesincludesresearchers,management
students/teachers,andpractitionersinterestedinexploringvariousfacetsofflexibilityresearchand
practice.Theseriesfeaturesfivetypesofbooks:
(cid:129) Postconferencevolumescontainingpeerreviewedhighqualityresearchpapersaroundatheme
andclusteredinsub-themesthatcanactasgoodreferencematerial.
(cid:129) Contributed thematic volumes based on invited papers from leading professionals, from
academiaaswellpracticingworld,containingstateoftheartonanemergingtheme.
(cid:129) Researchmonographsbasedonresearchworkmakingacomprehensivecontributiontothebody
ofknowledge.
(cid:129) Books based on novel frameworks and methodologies covering new developments that are
welltestedandreadyforwiderapplicationinresearchaswellaspractice.
(cid:129) Business practices and case based books documenting flexibility practices, strategies, and
systemsinreallifeorganizations.
Theseriescoversmultipleperspectivesofflexiblesystemsmanagement;someleadingones,inter
alia,are:
(cid:129) Holisticmanagementoforganizationalparadoxeswithsystemicflexibility:includingvarious
connotations such as ambidexterity, adaptability, responsiveness, openness, customization,
localization,agility,vitality,sustainability,etc.
(cid:129) Businessagilityinfusedbynewinformationandcommunicationtechnologies:includingvolatile
and virtual business, developments in information and communication technologies gener-
atingITagilitysuchascloudcomputing,socialnetworking,knowledgebasedsystems,search
technologies,mobiletransactions,businesscontinuity,disasterrecovery,etc.
(cid:129) Managing innovation, strategic change and risk: including strategic change, confluence of
continuityandchange,strategicflexibility,strategyexecution,innovationinproducts/services,
processes,managementpractices,andstrategies,businessdynamics,businessuncertaintyand
associatedrisk,etc.
(cid:129) Flexibilityinvariousoperationsforachievingbusinessexcellence:includingorganizationalflex-
ibility,financialflexibility,manufacturingflexibility,informationsystemsflexibility,marketing
flexibility,operationalandsupplychainflexibility,technologymanagementflexibility,flexibility
inbusinessexcellence/maturitymodels,etc.
ReviewProcess
The series follows multi-rung review process where the proposal for each volume is reviewed
(singleblind)firstbytheserieseditor.Theserieseditorenliststhehelpofeditorialboardforfurther
commentsbasedonsubjectmatterexpertise.Finally,adoubleblindpeerreviewisconductedby
thepublishingeditor(commentsandresponsessharedwiththeserieseditor).
Ethics Statement for this series can be found in the Springer standard guidelines
here https://www.springer.com/us/authors-editors/journal-author/journal-author-helpdesk/before-
you-start/before-you-start/1330#c14214
Moreinformationaboutthisseriesathttps://link.springer.com/bookseries/10780
·
Ramesh Anbanandam Santosh Rangnekar
Editors
Flexibility, Innovation,
and Sustainable Business
Editors
RameshAnbanandam SantoshRangnekar
DepartmentofManagementStudies DepartmentofManagementStudies
IndianInstituteofTechnologyRoorkee IndianInstituteofTechnologyRoorkee
Roorkee,Uttarakhand,India Roorkee,Uttarakhand,India
ISSN 2199-8493 ISSN 2199-8507 (electronic)
FlexibleSystemsManagement
ISBN 978-981-19-1696-0 ISBN 978-981-19-1697-7 (eBook)
https://doi.org/10.1007/978-981-19-1697-7
©TheEditor(s)(ifapplicable)andTheAuthor(s),underexclusivelicensetoSpringerNature
SingaporePteLtd.2022
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Preface
In today’s highly globalized economy, innovation has become the key driver for
growth and competitiveness. Nowadays, the capability to innovate is becoming a
crucialdeterminantoftheglobalcompetitivenessofnations.Flexibilitycanbetermed
asthecapabilitytochangeandadapttoachallengingenvironment.Itcanbeeither
adaptive (when challenges are present in the background), or it may be sponta-
neous—a preference for change without any external pressure. Due to cut-throat
competitioninthemarketandtheurgetosatisfysociety’sgrowingneeds,flexibility,
innovation,andsustainabilitycouldprovidevariousopportunitiesandsuccessinthe
differentfields.Keepingtheareasasmentionedabove,GLOGIFT19wasorganized
at IIT Roorkee, India, from 6 to 8 December 2019 on “Flexibility, Innovation and
SustainableBusiness.”
This book is based on the themes of the GLOGIFT 19 Conference of Flexi-
bility, Innovation, and Sustainable business. This book address contextual issues
like Strategic Flexibility, Organizational Flexibility, Financial Flexibility and Risk
Management, Marketing Flexibility, Human Resource Flexibility, Information
SystemFlexibility,InternationalCompetitiveness,Technology/InnovationManage-
ment, Sustainable Tourism, Social Sustainability, Agility/Flexibility in Manufac-
turing Systems and Social Media Analytics, Petascale (Big) Data Analytics, Data
ScienceandMachineLearning,andDigitalTransformation.
Thisuniquevolumeexploresdeeperintosuchcriticalemergingareasofconcern:
Sustainability, Innovation, Flexibility, and Analytics. The proposed edited book,
“Flexibility, Innovation and Sustainable Business,” is supported by research arti-
cles/caseapplicationsandmodelsinvariousrelatedareas.Intotal,thisvolumecovers
23paperswhichcoveravarietyofissuesconcerningthethemeof“GLOGIFT19”
andareorganizedintothreefollowingsections:
a. Flexibility&H.R.
b. Sustainability
c. Innovation
v
vi Preface
PartIof thebook deals withthe subtheme flexibility and human resources, which
includesfivechapters.Inthispart,Chap.1discussesthefactorswhichareaffectingthe
financialflexibilityofcentralpublicsectorenterprisesbyinvestigatingfactorsinflu-
encingthefinancialflexibilitybasedonCPSEslistedonthePSUindexoftheBombay
StockExchange.Thestudyfindstheresultofmultipleregressionandlogisticregres-
sionthatshowedthefinancialleveragevariablesdonotsignificantlyimpactfinan-
cialflexibilityandthecurrentratio.Returnonassetshasapositiveandsignificant
impactonfinancialflexibility.Sizes,returnonsales,andgrowthvariablehaveanega-
tiveandsignificantimpactonfinancialflexibility.Chapter2discussestheindustrial
trendsontalentacquisitionandmanagementstrategyorganizationsbydoingtheliter-
aturereview.Theauthorconcludesbydiscussingthatorganizationsareengagedin
recruitingandretainingthebesttalentswiththemselves.However,frequenttransi-
tionsandmovementsinandacrossorganizationscanhelpfetchthebesttalentand
starperformers.InChap.3,theauthorsdiscussedtheinterplayofjobcharacteristics,
promotion,jobcrafting,andinternalemployability.Apositiverelationshipwasfound
betweenmotivatingjobcharacteristics,promotion-focusedjobcraftingandperceived
internalemployability.Chapter4isinthecontextofresonantleadershipinIndia,which
developsafour-factorresonantleadershipstylewithaltruismasanadditionaldimen-
sionpractisedbyIndianmanagers.Findingsshowedthatthenewresonantleadership
scalehassatisfactoryconstructvaliditywithfourdimensionsandaresupportedwith
significantcompositereliability.Chapter5isLeveragingSocialMedia.Thisstudy
empiricallyteststhedirectandmediatingeffectsofworkplace-behaviorbystudying
threesub-variables.Thestudy’sfindingadvocatesthatthedecision-makersandthe
management of organizations should frame policies for standardized use of social
media.
PartIIofthebookfeaturesfourpapersonthethemeofsustainability.Chapter6
talksaboutagriculturalsustainabilitythroughinstitutionalinnovation,whichaimsto
determinethechallengesandopportunitywiththeFPCsintheKalahandiDistrictin
Odisha.ItalsotriestoascertainthesustainabilityfactoramongFPCsinthestudied
areathroughthesustainablebusinessmodelframeworkdimensions.Thestudyfound
the initiative of linking farmers with formal value networks through institutional
innovation; entitle them with better economies of scale, better market facilitation
with the integration of backward and forward linkage leading to sustainability in
agriculture.Chapter7proposesamodelfortheadoptionofsustainableknowledge
managementpracticesintechno-innovativeclubswheretheauthordiscussesacase
studyonatechno-innovativeclubwhichshowsthatusingthemodelofknowledge
managementleadstoanupsurgeofinnovation.Theintegratedwheelofknowledge
managementmodeldiscussedinthechaptercanbepickedupbyanyorganization,
includinginnovativesustenanceclubs.Chapter8isinthecontextofLeadershipfor
SustainableTourismDevelopmentwhichhasbeenfocusedontheUttarakhandregion
andsuggestsmorefocusonmountaintourismwithequivalentdependenceoninfras-
tructuraldevelopmentalactivitiesthatwouldhelppromotetourisminUttarakhand.
Finally, Chap. 9 discusses crowdfunding’s effectiveness in sustainable financing
Preface vii
enterprises,whichaimtounderstandthesignificanceofcrowdfundinginfinancing
ventures with sustainable orientation. The findings of the study social orientation
haveanegativeeffectonthecampaign.
PartIIIofthebookdiscussesthesubthemeofinnovationwherevariousauthorsin
theirchaptershavediscussedtheuseofdigitaltransformations.Chapter10discusses
digital platforms as a lever of competitive advantage. The author aims to examine
thepresentplatformcapabilitiesoftheFIOsandprovidesinsightsintohowtheycan
leveragethebestpracticestoscaleuptheirplatformofferingstogainaninternational
competitiveadvantage.Chapter11focusedonfactorsaffectingsupplychainfinance’s
performanceinIndianSMEsthroughaMulti-CriteriaDecision-MakingApproach
underFuzzyEnvironment.Thestudy’sfindingsrevealthat“Failureinmanagingthe
financialflow”isthemostchallengingfactorforSCFandactingasamajorobstacle
for its application. Chapter 12 discussed merger and acquisition and their impact
onprofitabilityperformance.ThestudyconcludedthatmergedcompanyVodafone
IdeaLtd.hadapositiveimpactonassetturnover,totaldebt/equity,andreturnonnet
worth/equity and positively resulted in profit before depreciation, interest, and tax
afterthemergerwithIdeaLtd.
Chapter 13 explored the mediation effects of economic growth between public
expenditure and human development for India. The study’s findings could be said
thatGovernmentspendingshouldbedonetoregulatethedistributionofincometo
achieveeconomicefficiencyand,afterthat,humandevelopment.Chapter14discusses
digitalsocialization,whichaimstomeasurethecustomers’purchaseintentionusing
thisapplicationandreflectonittovariousindustries/companies.Chapter15isthecase
studyaboutSAPLeonardoinPaintIndustry.ThestudypresentstheSAPLeonardo
ERPpackageandERPimplementationprojectforapaintmanufacturingindustry.
Chapter16isasustainabledistributionnetworkdesignofasupplychainwithamulti-
objective,multi-integerlinearprogrammingmodelthattriestocurtailthe“Economic
andEnvironmentalburden”andmaximizesocialaccountability.Chapter17isabout
urbantransportsustainabilityandchallenges,whichisconfinedtoaccessthegrowing
trends of automobile and the availability of India’s urban transport infrastructure.
Chapter18discussestheinternationalizationprocessofIndianautogiants.Chapter19
talksabouttheanalysisofleanmanufacturingtechnology.Chapter20discussedthe
assessmentofenablersofadditivemanufacturingimplementationandconcludedthat
vendorsupportisthemostcrucialenablerwhenconsideringtheimplementationof
AMintheindustry.Chapter21isaboutunderstandingindustrialecologyforsustain-
ableindustrialdevelopmentandChap.22isinamulti-granular-basedPSOmodelfor
forecastingtimeseriesdata.Chapter23isaboutdriversofblockchain adoptionin
thepharmaceuticalsector,aqualitativestudyaboutthefastemergingandpromising
technology for tracking products and mitigating the risk of loss or counterfeiting
pharmaceuticalproducts.
Wearethankfulforalltheresearchersandreviewerswithoutwhosegreatefforts
thisbookcouldnotbecompleted.Wehopethatthebookonthetheme“Flexibility,
InnovationandSustainableBusiness”wouldprovideaknowledge-sharingplatform
viii Preface
fordisseminatingresearchandexperientialfindingsthroughempiricalstudy,qual-
itative modeling, case studies, new concepts, and state-of-the-art studies to young
researchers.
Roorkee,India RameshAnbanandam
SantoshRangnekar
Contents
FlexibilityandH.R.
FactorsAffectingFinancialFlexibilityofCentralPublicSector
Enterprises ....................................................... 3
PadmalochanaBisoyi, BhushanPardeshi, DiptiVashisthSharma,
andPranitaBurbure
Industrial Trends on Talent Acquisition and Management
Strategies ......................................................... 11
NehaVerma,SheetalSingh,andAnuriyaSingh
Interplay of Job Characteristics, Promotion-
andPrevention-FocusedJobCraftingandInternalEmployability ...... 25
SanjeetKumarSameerandPushpendraPriyadarshi
ResonantLeadershipinIndia:AScaleDevelopmentandValidation .... 43
BinitaTiwariandUshaLenka
LeveragingSocialMediaAnalytics:ItsImpactonOrganizational
Culture ........................................................... 61
PranitaBurbure, BhushanPardeshi, PadmalochanaBisoyi,
andDiptiVashisthaSharma
SustainabilityIssuesinManagement
AgriculturalSustainabilityThrough InstitutionalInnovation:
A Study on Farmer Producers Company in Rainfed Region
ofOdisha ......................................................... 77
SaswatKumarPaniandSanjayaKumarSatapathy
AModelfortheAdoptionofSustainableKnowledgeManagement
PracticesinTechno—InnovativeClubs:ACaseStudy ................ 89
AnnapurniSubramanian,SuryaAnantha,andM.S.Archana
ix