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The airlines cancel their flights frequently because of factors that they do not have any control over. Spare aircraft can potentially address some of the issues caused by cancelled flights. This paper aims to offer an exploratory study into the financial and operational viabilities of spare aircraft for airlines.

Mathematical models are proposed to evaluate the financial and operational metrics under different scenarios. The models are applied to Delta, Spirit and Southwest Airlines with different business models. All data are extracted from US Bureau of Transport Statistics, Cirium Diio Mi and CAPA databases. The IBM Cplex solver was used to execute the binary linear program models.

The research revealed that factors such as airline network size, hub and spoke structure and average weekly flight cancellations are crucial in establishing the need for spare aircraft. For the number of weekly cancellations, there exist break-even values that reasonably justify spare aircraft.

Models can be customized and applied to other modes of transportations.

This study is the first to consider the use of spare aircraft in airlines from both financial and operational perspectives within the scope of the mathematical model. The analyses identify financial break-even points for a number of spare aircraft and their home base locations for three airlines. Operational utilization of spare aircraft is studied and contrasted with financial metrics.

The purpose of this paper is to identify the radio frequency identification (RFID) strategic value attributes (RFIDSVAs) mechanism selections preferences and also integration of RFID tags with technology coordination tools (IRTWTCTs) alternatives ranking performance decisions in supply chain management (SCM). RFID-enabled techno-economic feasibility decisions are enhancing the SC visibility in apparel supply chains (ASCs). The RFIDSVAs mechanism selections have performed significant agility to strategic competitive advantages, namely, inventory visibility, multi-tags ownership transfer within trusted third party, etc.

Fuzzy analytical hierarchy process (FAHP) and FAHP-fuzzy Technique for Order of Preference by Similarity to Ideal Solution (FTOPSIS) approaches have been used to evaluate the quantitative assessment of RFIDSVA mechanisms selection decision based on weight priority orders and IRTWTCTs alternatives selection in ASC networks. The comparison of FAHP and FAHP-FTOPSIS approaches to evaluate the integrated framework develop in RFIDSVAs mechanisms and IRTWTCTs alternatives selection decisions in Indian multi-tier ASC networks.

The result found that the FAHP-FTOPSIS approaches have used to prioritizing the RFIDSVA mechanism selection weights and also identify the IRTWTCTs alternatives ranking preferences order in apparel SCM. The comparison between the FAHP and FAHP-FTOPSIS approach to quantitative assessments from RFIDSVA mechanisms and IRTWTCTs alternatives selection decisions, which enable them SC agility potential across multi-tier visibility in ASC networks. ASC stakeholders can be benefited by techno-economic feasibility decisions, RFID-enabled shop floor activities, multi-tags ownerships transfer in SCs and knowledge-based cryptography tags/items separation in SCs.

The research work has considered only five RFIDSVA mechanisms and also three integration of RFIDTWTCTs alternatives in multi-tier ASC. The strategic competitive advantages are achieved by RFID-enabled break-even tags price decisions and also techno-economic feasibility decision by contractual design multi-tier SC stakeholder’s involvements.

The pilot project study explores that the quantitative assessment decision has based on RFID-enable techno-economic feasibility in ASCs. Stakeholders can be benefited by inventory control of the financial losses, reducing the inventory inaccuracies and multi-tags ownership transfer within trusted third-party traceability in ASC networks.

This study explores the RFID-enabled apparel SC process and activities visibility (natural fibre’s fibre producer, fibre dyeing producer, yarn spinning producer, knitting and finishing producer).

The main stance of this paper is to draw an authentic and rigorous outlook in terms of the financial and operational performance of small lodging establishments (SLEs) and put forth achievable and practical economic solutions that demonstrate the relative effectiveness of the adopted measures. This paper also suggests practical solutions to help minimize SLEs' financial vulnerability to long-term crisis and to boost their resilience with relative measures by applying recovery revival strategies for this particular segment of the lodging industry.

The authors have picked a locally owned resort hotel in Central Florida area and structured a real-life, case study-based inductive approach that is purposeful and offers rich economic outlook and analysis for the entire lodging industry, especially for the resort-hotel type of accommodation facilities. The main reason for why they only focus on one company is that they can fully understand the financial effects of COVID-19 on resort type of hotels and layout countering strategies. To achieve paper objectives, they have implemented cost–benefit (C–B), break-even (B-E) analyses along with a sensitivity testing approach.

The most striking result was that during the state-mandated shutdown period in 2020, overhead and overall operational costs associated with room sales and revenues were very high during this period that shrank the contribution margin ratio for rooms CMRw (room) and eventually yielded high sales volumes to be achieved at the B-E points vs lower sales volumes with almost the same average daily rate (ADR) levels needed for the B-E levels.

Future studies should specifically delve further into a portfolio of SLEs in the region or state or nation wise because the units comprising the SLEs might be too small to muster the changes required to bounce forward for the entire lodging industry in the world.

The resort's revenue re-optimization focus should center on financial re-benchmarking and business re-viability stress under different levels of shock scenarios. According to the different scenarios and calibrations for the ADRs, room nights, net present values (NPVs) of cash flows and profit margins derived from our main analyses, minimizing expenses and preserving cash would be the best key strategy for financial recovery during an ongoing COVID-19 pandemic.

It is obvious that the lodging, hospitality and tourism industry are the hardest-hit industries by the harsh and adverse effects of COVID-19. The effects of pandemic are differently shaped on operations in different industries and subsectors. Therefore, the operational and financial evaluation for the SLEs as the core and a catalyst in the entire lodging industry can shed a light on the strategic financial recovery procedures with broadly applicable real-life and endogenous capabilities and reasoning.

The purpose of this paper is to provide a theoretically rigorous and practically relevant summary of research findings that enables managers to drive sustainable profits improvements via pricing. It showcases multiple case studies that demonstrate how companies can achieve higher-than-average profitability by implementing intelligent pricing strategies and tactics.

Over the past 20 years, this writer has conducted dozens of academic surveys with managers exploring the antecedents, moderators and consequences of pricing practices for existing and new products. The writer has analyzed all pricing research published in leading academic journals over the past decades. Finally, as equity partner of Hinterhuber & Partners, a pricing consultancy (www.hinterhuber.com), this writer – through collaborations with companies and workshops conducted with practicing managers – has collected data and insights on best practices in managing pricing as a strategic activity.

Pricing is the most powerful driver of superior profits, yet managers view pricing as relevant only in the context of innovation. This narrow view prevents companies from realizing their full potential. Best practice examples of pricing as well as rigorous academic research suggest that pricing based on solid scientific principles helps average companies to achieve above-average results. This paper presents a review of recent research and summarizes the fundamental principles that managers must master so that pricing becomes an enabler of lasting superior performance.

Academic research in pricing surpasses managerial practice. Managers often rely on outdated concepts when it comes to pricing strategy and tactics.

The paper presents a framework that allows managers to implement pricing strategies that improve performance.

Effective pricing strategies benefit companies, customers and other stakeholders.

The paper provides a comprehensive overview of the latest research on pricing and thus documents that pricing based on solid, scientific principles is an enable of lasting, above-average profitability.

Barriers to adequate healthcare in rural areas remain a grand challenge for local healthcare systems. In addition to patients' travel burdens, lack of health insurance, and lower health literacy, rural healthcare systems also experience significant resource shortages, as well as issues with recruitment and retention of healthcare providers, particularly specialists. These factors combined result in complex change management-focused challenges for rural healthcare systems. Change management initiatives are often resource intensive, and in rural health organizations already strapped for resources, it may be particularly risky to embark on change initiatives. One way to address these change management concerns is by leveraging socio-technical simulation models to estimate techno-economic feasibility (e.g., is it technologically feasible, and is it economical?) as well as socio-utility feasibility (e.g., how will the changes be utilized?). We present a framework for how healthcare systems can integrate modeling and simulation techniques from systems engineering into a change management process. Modeling and simulation are particularly useful for investigating the amount of uncertainty about potential outcomes, guiding decision-making that considers different scenarios, and validating theories to determine if they accurately reflect real-life processes. The results of these simulations can be integrated into critical change management recommendations related to developing readiness for change and addressing resistance to change. As part of our integration, we present a case study showcasing how simulation modeling has been used to determine feasibility and potential resistance to change considerations for implementing a mobile radiation oncology unit. Recommendations and implications are discussed.

After completion of this case study, students will be able to apply the triple bottom line concept to a spice manufacturing and export company (RBT 3); to examine the options before Value Ingredients Private Limited (VIPL), namely, to cultivate spices in the traditional way versus adopting integrated pest management (IPM) to cater to international markets (RBT 4); to analyse the returns for an IPM farmer vis-à-vis a conventional farmer, and to compare the returns therein (RBT 4); and to evaluate the ways and means of engaging farmers to change their way of cultivation (RBT 5)

The COVID-19 pandemic heightened awareness about the benefits of spices and buoyed its demand worldwide, which presented an opportunity to VIPL, a spice manufacturing company based in Chennai, to expand its business. However, the export markets demanded residue-free spices grown with little or no use of pesticides. Traditional farmers supplying spices to VIPL were accustomed to spraying pesticides whenever there was a pest attack. This case study discussed the options that the protagonist Mr Sijil Karim, managing director and CEO of VIPL, had, who wanted to onboard farmers for pesticide-free cultivation. The options before him were either to continue traditional farming or adopt IPM. This case study discussed the merits, demerits and challenges of each of these options.

The triple bottom line concept discussed three Ps – people, planet and prosperity – for this case as follows: The farmers and the consumers constituted the people in the spice supply chain. The farmers supplying organic, export-worthy spices under the guidance of VIPL gained 30% more than regular spice farmers, which were accrued through cost savings and better prices. The consumers benefitted from the pesticide-free, organic spices through accrued health gains. The manufacture of organic, pesticide-free spices helped the planet, as the process did not release hazardous chemicals into the atmosphere. VIPL manufactured pesticide-free spice with a focus on prosperity.

The case study can be introduced in a course on sustainability while discussing the triple bottom line concept. This case study showed how a for-profit company grew without losing sight of the planet or its focus on people. This case is best suited for students who have preliminary knowledge of supply chain management, operations and sustainability. Therefore, it is suited for sophomore-year students of MBA.

Teaching notes are available for educators only.

CSS 11: Strategy.

In this study, workplace spirituality is discussed in the context of remote work and the COVID-19 pandemic. First, the focus is on the changes in the meaning and function of employees in the organization during the evolutionary process of industrialization and management paradigms. Afterward, conceptual frameworks for spirituality and workplace spirituality are presented, and in the last section, academic studies that deal with workplace spirituality with distance or hybrid work arrangements are included. Early studies offer insights and recommendations on conceptualizing, developing, and managing workplace spirituality. They all emphasize that spirituality is necessary for remote work as a tool to overcome stress and mental health problems and increase employee well-being. Unfortunately, the remote work and workplace spirituality literature is relatively narrow and needs to be expanded.

After completion of the case study, students will be able to examine the financial implications of Maghreb Steel’s substantial investment in the Blad Assolb complex in 2007 within the restructuring plan; explore how this decision influenced the company’s financial health and strategic position in the steel market, within the context of the restructuring plan; assess the impact of the 2008 economic crisis within the restructuring plan; analyze how the crisis affected the company’s pricing strategies, profitability and overall business strategy; investigate the financial and strategic consequences of the hot rolling activity initiated as a result of the Blad Assolb project within the company’s restructuring plan; and critique how this venture impacted the company’s operations, cost structure and competitiveness in the steel industry, aligned with the restructuring plan.

This case study deals with the only flat steel producer in Morocco: Maghreb Steel, the Moroccan family-owned company created in 1975 by the Sekkat family. It was a leading steel company. At the beginning, the company was specialized in the field of steel tubes, but thanks to its growth ambitions, the Sekkat family had made Maghreb Steel a major player in the Moroccan steel sector. In the same logic of development, the top management of Maghreb Steel launched in 2007 in the adventure to create the first production complex of cold rolling in Morocco – an investment that pushed Maghreb Steel to resort to a debt of more than 6bn dirhams (DH) with a consortium of six banks and would have allowed the company a huge leap in growth, except that the decision-makers of the group Sekkat could not see coming the economic crisis of 2008 causing the fall of steel prices by 62% compared to 2007. Thus, from its effective launch in 2010, the activity of hot rolling would become, for the company, a regrettable orientation. Moreover, the national market could not absorb all the production of the complex that the company called Blad Assolb. In response to this difficult situation, Maghreb Steel decided to store its goods to avoid selling at a loss. Faced with this situation of sectoral crisis and deterioration of its activity, Maghreb Steel lost its ability to honor its financial commitments with the banking consortium. From then on, the company became a case of failure, and the recovery measures had not ceased to be duplicated by the various stakeholders: State, Sekkat family, creditors and management of the company, having only one objective in mind: Save Maghreb Steel! This said, the present case study is dedicated to the financial and strategic analysis of the current situation and the evolution of the company throughout the crisis period to finally propose a suitable recovery plan to save Maghreb Steel.

The case study can be taught to students of master’s degrees in financial management as a synthesis of finance courses. It can also be used to train executives and managers working in family businesses as part of professional certification training.

Teaching notes are available for educators only.

CSS 1: Accounting and finance.