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The purpose of the present work is to improve the industry performance by identifying and quantifying the risks faced by the Indian pharmaceutical industry (IPI). The risk values for the prominent risks and overall industry are determined based on the four risk parameters, which would help determine the most contributive risks for mitigation.

An extensive literature survey was done to identify the risks, which were also validated by industry experts. The finalized risks were then evaluated using the fuzzy synthetic evaluation (FSE) method, which is the most suitable approach for the risk assessment with parameters having a set of different risk levels.

The three most contributive sub-risks are counterfeit drugs, demand fluctuations and loss of customers due to partners' poor service performance, while the main risks obtained are demand, financial and logistics. Also, the overall risk value indicates that the industry faces medium to high risk.

The study identifies the critical risks which need to be mitigated for an efficient industry. The industry is most vulnerable to the demand risk category. Therefore, the managers should minimize this risk by mitigating its sub-risks, like demand fluctuations, bullwhip effect, etc. Another critical sub-risk, the counterfeit risk, should be managed by adopting advanced technologies like blockchain, artificial intelligence, etc.

There is insufficient literature focusing on risk quantification. Therefore, this work addresses this gap and obtains the industry's most critical risks. It also discusses suitable mitigation strategies for better industry performance.

This study aims to investigate the impact of customer perceptions of Augmented Reality (AR) attributes such as augmentation, interactivity and vividness on attitudes towards AR mobile apps, virtual product and behavioural intentions. Also, the mediation role of customer engagement in the effect of perceptions of AR attributes on attitudes and behavioural intentions is examined using the Theory of Interactive Media Effects.

The study used a cross-sectional design. A total of 456 valid data were collected from the Millennials and Generation Z cohorts using purposive sampling. The conceptual framework was assessed using Partial Least Squares-Structural Equation Modelling (PLS-SEM) and Partial Least Squares-Multi Group Analysis (PLS-MGA).

The research revealed that customer perceptions of AR features such as augmentation, interactivity and vividness significantly influenced customer engagement, leading to favourable attitudes towards both the AR mobile app and the Virtual product as well as behavioural intentions. Furthermore, the study substantiates the role of customer engagement as a mediator in the relationship between customer perceptions of AR attributes and both attitudinal and behavioural outcomes.

To the best of the authors’ knowledge, this is the first attempt to investigate the significance of perceived augmentation as an antecedent to customer engagement and the mediating role of customer engagement on the influence of perceptions of AR attributes on attitudinal and behavioural intention.

Option pricing theory enables computation of the price of an option using different variables associated with the underlying security and options contract. The purpose of this study is to assess research trends that emerged in the field of option pricing. This study reviews existing literature of the option pricing domain, both qualitatively and quantitatively, and identifies potential themes for future research.

This study adopts bibliometric analysis method to explore literature published in the option pricing domain. As part of bibliometric analysis, this study considers both descriptive and network analysis to assess publication trends. For descriptive analysis, the “bibliometrix” package proposed by Aria and Cuccurullo (2017) is used and for network analysis, VOS viewer (Van Eck and Waltman, 2017) and Gephi (Bastian et al., 2009) are used.

This study identifies research trends, top researchers, articles, journals and contributions from institutions and countries in the option pricing domain. It identifies four clusters that show different directions and also focuses on past studies on the same subject. It explores research gaps by performing an in-depth analysis of existing literature on option pricing and suggests the way forward for research in this area.

To the best of the authors’ knowledge, no previous studies have attempted to analyze the literature published in the option pricing domain. This study fulfils this research gap by conducting a comprehensive analysis of studies in the option pricing area. This study identifies quality research work published in the domain, research trends, contribution by most relevant researchers, contributions across geographies and institutions and the connections among these aspects. This study also identifies important themes and provides directions for future research.

An integrated intuitionistic fuzzy (IF) modelling-based framework for examining the performance analysis of a packaging unit (PU) in three different stages has been proposed.

For the series and parallel configuration of PU, a mathematical model based on the intuitionistic fuzzy Lambda–Tau (IFLT) approach was developed in order to calculate various reliability parameters at various spreads. For determining membership and non-membership function-based reliability parameters for the top event, AND/OR gate transitions expression was employed.

For 15%–30% spread, unit’s availability for the membership function falls by 0.006442%, and it falls even more by 0.014907% with an increase in spread from 30% to 45%. In contrast, for 15%–30% spread, the availability of non-membership function-based systems reduces by 0.007491% and further diminishes. Risk analysis has presented applying an emerging approach called intuitionistic fuzzy failure mode and effect analysis (IFFMEA). For each of the stated failure causes, the output values of the intuitionistic fuzzy hybrid weighted Euclidean distance (IFHWED)-based IFFMEA have been tabulated. Failure causes like HP1, MT6, FB9, EL16, DR23, GR27, categorized under subsystems, namely hopper, motor, fluidized bed dryer, distributor, grader and bin, respectively, with corresponding IFFMEA output scores 1.0975, 1.0190, 0.8543, 1.0228, 0.9026, 1.0021, were the most critical one to contribute in the system’s failure.

The limitation of the proposed framework lies in the fact that the results obtained for both reliability and risk aspects mainly depend on the correctness of raw data provided by the experts. Also, an approximate model of PU is obtained from plant experts to carry performance analysis, and hence more attention is required in constructing the model. Under IFLT, reliability parameters of PU have been calculated at various spreads to study and analyse the failure behaviour of the unit for both membership and non-membership function in the IFS of [0.6,0.8]. For both membership- and non-membership-based results, availability of the considered system shows decreasing trend. To improve the performance of the considered system, risk assessment was carried using IFFMEA technique, ranking all the critical failure causes against IFHWED score value, on which more attention should be paid so as to avoid sudden failure of unit.

The livelihood of millions of farmers and workers depends on sugar industries. So perpetual running of these industries is very important from this viewpoint. On the basis of findings of reliability parameters, the maintenance manager could frame a correct maintenance policy for long-run availability of the sugar mills. This long-run availability will generate revenue, which, in turn, will ensure the livelihood of the farmers.

Mathematical modelling of the considered unit has been done applying basic expressions of AND/OR gate. IFTOPSIS approach has been implemented for ranking result comparison obtained under IFFMEA approach. Eventually, sensitivity analysis was also presented to demonstrate the stability of ranking of failure causes of PU.

Artificial intelligence (AI) has sparked interest in various areas, including marketing. However, this exhilaration is being tempered by growing concerns about the moral and legal implications of using AI in marketing. Although previous research has revealed various ethical and legal issues, such as algorithmic discrimination and data privacy, there are no definitive answers. This paper aims to fill this gap by investigating AI’s ethical and legal concerns in marketing and suggesting feasible solutions.

The paper synthesises information from academic articles, industry reports, case studies and legal documents through a thematic literature review. A qualitative analysis approach categorises and interprets ethical and legal challenges and proposes potential solutions.

The findings of this paper raise concerns about ethical and legal challenges related to AI in the marketing area. Ethical concerns related to discrimination, bias, manipulation, job displacement, absence of social interaction, cybersecurity, unintended consequences, environmental impact, privacy and legal issues such as consumer security, responsibility, liability, brand protection, competition law, agreements, data protection, consumer protection and intellectual property rights are discussed in the paper, and their potential solutions are discussed.

Notwithstanding the interesting insights gathered from this investigation of the ethical and legal consequences of AI in marketing, it is important to recognise the limits of this research. Initially, the focus of this study is confined to a review of the most important ethical and legal issues pertaining to AI in marketing. Additional possible repercussions, such as those associated with intellectual property, contracts and licencing, should be investigated more deeply in future studies. Despite the fact that this study gives various answers and best practices for tackling the stated ethical and legal concerns, the viability and efficacy of these solutions may differ depending on the context and industry. Thus, more research and case studies are required to evaluate the applicability and efficacy of these solutions in other circumstances. This research is mostly based on a literature review and may not represent the experiences or opinions of all stakeholders engaged in AI-powered marketing. Further study might involve interviews or surveys with marketing professionals, customers and other key stakeholders to offer a full knowledge of the practical difficulties and solutions. Because of the rapid speed of technical progress, AI’s ethical and regulatory ramifications in marketing are continually increasing. Consequently, this work should be a springboard for more research and continuing conversations on this subject.

This study’s findings have several practical implications for marketing professionals. Emphasising openness and explainability: Marketing professionals should prioritise transparency in their use of AI, ensuring that customers are fully informed about data collection and utilisation for targeted advertising. By promoting openness and explainability, marketers can foster customer trust and avoid the negative consequences of a lack of transparency. Establishing ethical guidelines: Marketing professionals need to develop ethical rules for the creation and implementation of AI-powered marketing strategies. Adhering to ethical principles ensures compliance with legal norms and aligns with the organisation’s values and ideals. Investing in bias detection tools and privacy-enhancing technology: To mitigate risks associated with AI in marketing, marketers should allocate resources to develop and implement bias detection tools and privacy-enhancing technology. These tools can identify and address biases in AI algorithms, safeguard consumer privacy and extract valuable insights from consumer data.

This study’s social implications emphasise the need for a comprehensive approach to address the ethical and legal challenges of AI in marketing. This includes adopting a responsible innovation framework, promoting ethical leadership, using ethical decision-making frameworks and conducting multidisciplinary research. By incorporating these approaches, marketers can navigate the complexities of AI in marketing responsibly, foster an ethical organisational culture, make informed ethical decisions and develop effective solutions. Such practices promote public trust, ensure equitable distribution of benefits and risk, and mitigate potential negative social consequences associated with AI in marketing.

To the best of the authors’ knowledge, this paper is among the first to explore potential solutions comprehensively. This paper provides a nuanced understanding of the challenges by using a multidisciplinary framework and synthesising various sources. It contributes valuable insights for academia and industry.

To meet energy demand and tackle the challenges posed by global warming, Bagasse-based Cogeneration Power Generation (BCPG) plant in sugar mills have tremendous potential due to large-scale supply of renewable fuel called bagasse. To meet this goal, an integrated framework has been proposed for analyzing performance issues of BCPG.

Intuitionistic Fuzzy Lambda-Tau (IFLT) approach was implemented to compute various reliability parameters. Intuitionistic Fuzzy Failure Mode and Effect Analysis (IF-FMEA) approach has been implemented for studying risk issues results in decrease in plant's availability. Moreover, IF- Technique for Order Performance by Similarity to Ideal Solution (IF-TOPSIS) is implemented to verify accuracy of IF-FMEA approach.

For membership and non-membership functions, availability decreases to 0.0006% and 0.0020% respectively for spread ±15% to ±30%, and further decreases to 0.0127% and 0.0221% for spread ±30% to ±45%. Under risk assessment failure causes namely Storage tank (ST3), Valve (VL6), Transfer pump (TF8), Deaerator tank (DT11), High pressure heater and economiser (HP15), Boiler drum and super heater (BS22), Forced draft and Secondary air fan (FS25), Air preheater (AH29) and Furnace (FR31) with Intuitionistic Fuzzy Hybrid Weighted Euclidean Distance (IFHWED) based output scores – 0.8988, 0.9752, 0.9400, 0.8988, 0.9267, 1.1131, 1.0039, 0.8185, 1.0604 were identified as the most critical failure causes.

Reliability and risk analysis results derived from IFLT and IF-FMEA approaches respectively, to address the performance issues of BCPG is based on the quantitative and qualitative data collected from the industrial experts and maintenance log book. Moreover, to take care of hesitation in expert's knowledge, IF theory-based concept is incorporated so as to achieve more accuracy in analysis results. Reliability and risk analysis results together will be helpful in analyzing the performance characteristics and diagnosis of critical failure causes, which will minimize frequent failure in BCPG.

The framework will help plant managers to frame optimal maintenance policy in order to enhance the operational aspects of the considered unit. Moreover, the accurate and early detection of failure causes will also help managers to take prudent decision for smooth operation of plant.

The results obtained ensure continuous operation of plant by utilizing the bagasse as fuel in boiler and also mitigate the wastages of fuel. If this bagasse (green fuel) is not properly utilized, there remains a dependency on coal-based power plants to meet the power demand. The results obtained are useful for decreasing dependency on coal, and promoting bagasse as the green, and alternative fuel, the emission by burning of these fuels are not harmful for environment and thereby contribute in preventing the environment from harmful effect of GHGs gases.

IFLT approach has been implemented to develop reliability modeling equations of the BCPG unit, and furthermore to compute various reliability parameters for both membership and non-membership function. The ranking results of IF-FMEA are compared to IF-TOPSIS approach. Sensitivity analysis is done to check stability of proposed framework.

The study intends to examine the generational differences between GenY and GenZ Indian generational cohorts on the study variables, i.e. core self-evaluations (CSE), team cohesion, organizational culture and team performance. Further, the present research aims to analyze the impact of CSE, team cohesion and organizational culture on team performance as antecedents.

The study has adopted a descriptive cross-sectional survey method where the data were collected from Indian working professionals who belonged to GenY and GenZ generational cohorts. Further, a total of 370 responses were received, and thereafter, the data were analyzed by employing significant statistical tests such as exploratory factor analysis (EFA), confirmatory factor analysis (CFA), structural equation modeling (SEM) and an independent samples t-test.

The study results revealed that GenY and GenZ cohorts significantly differ on CSE, team cohesion and organizational culture. However, no significant difference was reported in team performance between these two generational cohorts. Also, the study results disclosed that CSE, team cohesion and organizational culture positively influence team performance by acting as its determinants.

The study reports differences between GenY and GenZ that would assist managers in effectively dealing with these generational cohorts and formulating human resource (HR) policies that can accommodate the needs of these two cohorts. Additionally, the study benefits managers by highlighting the importance of core-self evaluations, team cohesion and organizational culture to enhance team performance.

Existing research depicts that there lies a paucity of generational studies in the Indian context. The present study attempts to address this lacuna by putting pioneering efforts into this field. The main contribution of the study lies in empirically investigating the Indian generational cohorts (GenY and GenZ) in the organizations. Further, the study has also conceptualized and examined a team performance model by considering factors at three levels (individual, team and organization).

Supply chain finance (SCF) has become a vital ingredient that fosters growth and provides flexibility to the global supply chain. Thus, it becomes essential to understand the factors that contribute to the success of the supply chain finance ecosystem (SCFE). This study aims to identify the critical success factors (CSFs) for the development of an efficient and effective SCFE. Based on their characteristics, the study intends to classify the factors into constructs and further establish a hierarchical relationship among the CSFs.

The study is based on empirical data collected from 221 respondents based on administered questionnaires. Exploratory factor analysis (EFA) is carried out on 16 selected factors (out of 21 proposed factors) based on the feedback of the experts and the factors were classified into four constructs. The total interpretive structural modeling (TISM) model was developed by identifying and finalizing CSFs of the SCFE. The model developed a hierarchical relationship between the various factors.

The study identified significant CSFs for the efficient and effective SCF ecosystem. Four constructs were developed by analyzing CSFs using the EFA. The finalized 16 CSFs modeled through the TISM and further hierarchical relationship established between the CSFs concludes that governmental policies and sectoral growth are the strongest driving forces and financial attractiveness is the weakest driving force. Based on the CSFs and the constructs identified, it was found that for the success of the SCF ecosystem, the existence of an economic ecosystem provides a facilitating framework for the overall development of the SCFE. Also, the trustworthiness among the partners fosters better relationships and results in financial feasibility and offers business opportunities for all the stakeholders.

This study will help the SCF partners across the globe understand the CSFs that ensure development of mutually beneficial SCF ecosystems and provide flexibility to the supply chain partners. The CSFs would provide insights to the policymakers and the financial intermediaries for providing a conducive environment for the development of a better SCF ecosystem. Also, the buyers and sellers would understand the CSFs that would develop better relationships among them and ultimately help in development of business across the globe.

The study identifies the CSFs for the SCF ecosystem. The study ascertains the significant factors and classifies them into clusters using EFA. Unlike the literature available, the paper develops the hierarchical relationship between the CSFs and develops a model for an efficient and effective SCF ecosystem.