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1 – 10 of 37Anand Prakash and Sudhir Ambekar
This study aims to describe the fundamentals of teaching risk management in a classroom setting, with an emphasis on the learning interface between higher education and the…
Abstract
Purpose
This study aims to describe the fundamentals of teaching risk management in a classroom setting, with an emphasis on the learning interface between higher education and the workplace environment for business management students.
Design/methodology/approach
The study reviews literature that uses spreadsheets to visualize and model risk and uncertainty. Using six distinct case-based activities (CBAs), the study illustrates the practical applications of software like Palisade @RISK in risk management education. It helps to close the gap between theory and practice. The software assists in estimating the likelihood of a risk event and the impact or repercussions it will have if it occurs. This technique of risk analysis makes it possible to identify the risks that need the most active control.
Findings
@RISK can be used to create models that produce results to demonstrate every potential scenario outcome. When faced with a choice or analysis that involves uncertainty, @RISK can be utilized to enhance the perspective of what the future might contain.
Originality/value
The insights from this study can be used to develop critical thinking, independent thinking, problem-solving and other important skills in learners. Further, educators can apply Bloom’s taxonomy and the problem-solving taxonomy to help students make informed decisions in risky situations.
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Abhijat Arun Abhyankar, Anand Prakash and Harish Kumar Singla
This study aims to examine whether or not residential properties closer to landfill sites have lower offer values by the developers. That is, by analyzing real estate data and…
Abstract
Purpose
This study aims to examine whether or not residential properties closer to landfill sites have lower offer values by the developers. That is, by analyzing real estate data and landfill site locations, the study seeks to provide insights into whether properties situated closer to landfill sites tend to have a lower offer values than those located farther away.
Design/methodology/approach
The study is exploratory in nature, and a case study approach is applied. A landfill site named “Uruli Devachi” is selected in the region of Pune district, and data is collected from 102 developers selling residential projects within a radius of 15 km (about 9.32 mi). The gathered data is analyzed by using basic descriptive statistics, one-way ANOVA and ordinary least squares (OLS) regression. The OLS regression helps to determine whether there is a relationship between the distance of a residential property from a landfill site and its offer value.
Findings
The findings suggest that landfill sites have a detrimental impact on residential property offer values, with the negative impact increasing with proximity to a landfill site. The negative effect seems to vanish after over 10 km (about 6.21 mi). The developers provide extra facilities including a clubhouse, a children’s play area, a gym and a swimming pool in an effort to mitigate the negative effects of the landfill site on residential properties.
Practical implications
The findings of this study could have implications for property developers, real estate professionals and policymakers in understanding how landfill proximity might impact property offer values.
Originality/value
This study presents many novelties for the Indian housing market: the landfill sites do have a negative effect on the offer value of residential property; the closer the residential property to a landfill site, the higher the negative effect. Further, the developers try and mitigate the negative effect of landfill sites on residential properties by providing additional amenities such as a clubhouse, children’s play park, gym and swimming pool.
Ritu Arora, Anand Chauhan, Anubhav Pratap Singh and Renu Sharma
Good management strives to align and corporate processes for more attention being paid to supply chain management. Firms realize that greater co-operation and improved…
Abstract
Purpose
Good management strives to align and corporate processes for more attention being paid to supply chain management. Firms realize that greater co-operation and improved coordination can help to manage the entire supply chain more efficiently. The imperfect quality item is one of the most important issues that affect the expected profit of green supply chain. The imprecise cost with screening process of poor quality items posed in supply chain is the subject of this study.
Design/methodology/approach
The present study explores production model for imperfect items having uncertain cost parameters with three-layer supply chain encompassing supplier, manufacturer and retailer. The model is considering the impact of business tactics such as order size, production rate, production cost and appropriate times in various sectors on collaborative marketing systems. Due to imprecise cost parameters, the pentagonal fuzzy numbers are set to fuzzify the total cost and defuzzifition by using graded mean integration.
Findings
This study offers an explicit condition in uncertain environment to manage the imperfect quality item to increase the potential profit of the supply chain. The influence of changes in parameter values on the optimal inventory policy under fuzziness is provided managerial insights.
Originality/value
This model makes a significant contribution to fuzzy inference. The results of the study provide a trading strategy for the industry to avoid losses. The prescribed study can be suitable for the industries like sculpture, jewelry, pottery, etc.
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Mrunal Chavda, Harsh Patel and Hetav Bhatt
This study aims to examine the effectiveness of the Central Board of Secondary Education (CBSE)-based English textbooks and question papers in developing second-language…
Abstract
Purpose
This study aims to examine the effectiveness of the Central Board of Secondary Education (CBSE)-based English textbooks and question papers in developing second-language higher-order thinking skills (HOTS).
Design/methodology/approach
Descriptive analysis establishes a causal relationship between learning objectives and second language (L2) writing proficiency. Content analysis is used to compare and analyze tabulated data for textbooks and question papers for the English language by the National Council of Educational Research and Training (NCERT) and CBSE. This method categorizes the materials and their assessments under HOTS and lower-order thinking skills to ascertain the relationship between learning objectives and L2 writing proficiency.
Findings
The study highlights teaching material and assessment shortcomings and their alignment with learning outcomes to enhance students' writing skills. It underscores the need for HOTS-focused materials, discussing their impact on writing skills. The study also explores how textbook–question paper mismatch hampers Bloom's taxonomy-based cognitive skills.
Practical implications
This research illuminates the efficacy of teaching and learning English as a second language (ESL) writing skills to improve the quality of education, which has real-world implications. The study highlights flaws in the educational system in India and suggests curricular and pedagogical changes.
Originality/value
The research examines NCERT and CBSE ESL textbooks and question papers to align teaching and assessment methods. The results aim to improve education through ESL writers' HOTS.
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Mohammad Akhtar, Angappa Gunasekaran and Yasanur Kayikci
The decision-making to outsource and select the most suitable global manufacturing outsourcing partner (MOP) is complex and uncertain due to multiple conflicting qualitative and…
Abstract
Purpose
The decision-making to outsource and select the most suitable global manufacturing outsourcing partner (MOP) is complex and uncertain due to multiple conflicting qualitative and quantitative criteria as well as multiple alternatives. Vagueness and variability exist in ratings of criteria and alternatives by group of decision-makers (DMs). The paper provides a novel Stochastic Fuzzy (SF) method for evaluation and selection of agile and sustainable global MOP in uncertain and volatile business environment.
Design/methodology/approach
Four main selection criteria for global MOP selection were identified such as economic, agile, environmental and social criteria. Total 16 sub-criteria were selected. To consider the vagueness and variability in ratings by group of DMs, SF method using t-distribution or z-distribution was adopted. The criteria weights were determined using the Stochastic Fuzzy-CRiteria Importance Through Intercriteria Correlation (SF-CRITIC), while MOP selection was carried out using Stochastic Fuzzy-VIseKriterijumskaOptimizacija I KompromisnoResenje (SF-VIKOR) in the case study of footwear industry. Sensitivity analysis was performed to test the robustness of the proposed model. A comparative analysis of SF-VIKOR and VIKOR was made.
Findings
The worker’s wages and welfare, product price, product quality, green manufacturing process and collaboration with partners are the most important criteria for MOP selection. The MOP3 was found to be the best agile and sustainable global MOP for the footwear company. In sensitivity analysis, significance level is found to have important role in MOP ranking. Hence, the study concluded that integrated SF-CRITIC and SF-VIKOR is an improved method for MOP selection problem.
Research limitations/implications
In a group decision-making, ambiguity, impreciseness and variability are found in relative ratings. Fuzzy variant Multi-Criteria Decision-Making methods cover impreciseness in ratings but not the variability. On the other hand, deterministic models do not cover either. Hence, the stochastic method based on the probability theory combining fuzzy theory is proposed to deal with decision-making problems in imprecise and uncertain environments. Most notably, the proposed model has novelty as it captures and reveals both the stochastic perspective and the fuzziness perspective in rating by group of DMs.
Practical implications
The proposed multi-criteria group decision-making model contributes to the sustainable and agile footwear supply chain management and will help the policymakers in selecting the best global MOP.
Originality/value
To the best of the authors’ knowledge, SF method has not been used to select MOP in the existing literature. For the first time, integrated SF-CRITIC and SF-VIKOR method were applied to select the best agile and sustainable MOP under uncertainty. Unlike other studies, this study considered agile criteria along with triple bottom line sustainable criteria for MOP selection. The novel method of SF assessment contributes to the literature and put forward the managerial implication for improving agility and sustainability of global manufacturing outsourcing in footwear industry.
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System dynamics has several applications in the built environment, and few studies indicate that it has potential in evaluating sustainability. Sustainability in the built…
Abstract
Purpose
System dynamics has several applications in the built environment, and few studies indicate that it has potential in evaluating sustainability. Sustainability in the built environment involves numerous entities and multiple trade-offs. Hence, a Multi-Criteria Decision-Making (MCDM) method is ideal for promoting sustainability-based decision-making in the built environment. Therefore, this study integrates system dynamics with an MCDM method to enable the sustainability assessment by capturing the time-induced dynamic changes affecting long time sustainability performance of buildings.
Design/methodology/approach
Conventional sustainability assessment tools in the built environment lack a comprehensive evaluation that balances the needs of the society, economy and environment. This study develops a system dynamics-based framework to enable sustainability-conscious decision-making and policy analysis in the built environment.
Findings
Various material, technology and water-related policies specific to the buildings are investigated for a case study building. It is found that the effect of penetration of renewable energy technology to the tune of 80% and above in the energy mix is a much superior policy in sustainability improvement in comparison to material and water-related policies. The study also demonstrates the effect of weights assigned for the different indicators on sustainability-based decisions.
Originality/value
The study provides a methodological framework for a sustainability-based decision support system for the built environment that enables dynamic performance evaluation by coupling system dynamics with the MCDM. This coupling further strengthens system dynamics as a decision-making and policy analysis for sustainability evaluation in the built environment.
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Muhammad Umair, Muhammad Usman Javaid, Yasir Nawab, Madeha Jabbar, Shagufta Riaz, Hafiz Affan Abid and Khubab Shaker
This paper aims to investigate the influence of picking sequence, weave design and weft yarn material on the thermal conductivity of the woven fabrics.
Abstract
Purpose
This paper aims to investigate the influence of picking sequence, weave design and weft yarn material on the thermal conductivity of the woven fabrics.
Design/methodology/approach
This work includes the development of 36 woven samples with two weave designs (1/1 plain and 3/1 twill), three picking sequences (single, double and three pick insertion) and six different weft yarn materials (cotton, polyester having 48 filaments, polyester with 144 filaments, spun coolmax having Lycra in core and coolmax in sheath, filament coolmax and polypropylene). The thermal conductivity was measured using ALAMBETA tester.
Findings
The results showed that weft yarn material, weave design and picking sequence have a meaningful impact on the thermal conductivity of woven fabric. The value of thermal conductivity was lowest for the fabrics with three pick insertion and 3/1 twill weave in all weft yarn materials.
Research limitations/implications
Plain woven fabric with single pick insertion is feasible for summer wear to enhance the comfort of wearer. By changing the warp yarn grouping and material, improved thermal conductivity/resistance can also be achieved.
Originality/value
The authors have studied the combined effect of different weft yarn materials with different picking sequences and different weave designs on thermal conductivity of the woven fabrics.
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Agung Sutrisno, Cynthia Erlita Virgin Wuisang and Ade Yusupa
The regular occurrence of natural disasters elevates the need for an effective method to measure organizational preparedness in responding to the adverse impact of disasters. In…
Abstract
Purpose
The regular occurrence of natural disasters elevates the need for an effective method to measure organizational preparedness in responding to the adverse impact of disasters. In this context, this paper presents a new decision support model to assess organizational disaster preparedness using both subjective and objective disaster preparedness criteria in a multi-criteria decision-making context.
Design/methodology/approach
The statistical variance method is integrated with the proximity value index (PVI) technique to determine priority scores in order to rank organizational disaster readiness.
Findings
The results of applying the integrated model developed herein enable decision-makers to make informed decisions for assigning priority ranking of organizational disaster preparedness in a simpler and more efficient way.
Research limitations/implications
Human resource is the most impacting criterion affecting hospital preparedness in undertaking action to cure disaster victims.
Practical implications
This paper offers an exemplar of a simple and efficient decision-making process considering the subjectivity associated with decision-making as well as the objectivity of data used for determining the priority ranking of organizational disaster preparedness.
Originality/value
Integrating statistical variance method with the PVI technique is novel and it has not been presented in previous studies. In fact, this study is the first to integrate both methods for selecting the priority ranking of organizational disaster preparedness.
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