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“NTL suffered huge losses in its foreign exchange hedging activities as its highly complex leveraged structured products backfired badly in the wake of the Global Financial Crisis of 2007 and 2008. The CFO and the Treasury head have both been sacked, and Joshi, the new CFO, has embraced aggressive litigation as NTL's survival strategy to cope with the losses that threaten its solvency. In the meantime, NTL also faces tax investigations and whistleblower allegations of fraud, and it finds that the record-keeping of its derivative transactions was hopelessly incomplete and patchy. A complete reconstruction of the entire derivative transaction history is the only way to rebuild trust, and that task falls on Reddy, a seasoned derivatives expert brought in by the Board specifically for this purpose.

In this dire situation, Seth, the founder Chairman of NTL decides that NTL needs to put all this behind it and focus on rebuilding the business. The challenge for Seth, Joshi and Reddy is to go about doing this in an environment that offers very few rays of hope.”

Northern Textiles (NTL) used highly complex derivatives to hedge its currency risk, and these structured products have been profitable in the past. But in 2008, unanticipated movements in exchange rates have led to serious losses. Seth, the Chairman of NTL, has come to know about the losses on a specific deal, but the Treasurer has ensured that he is the only person who understands the derivative book in its entirety. Though Seth is not aware of how grave the problem is, he realizes that he must review NTL's risk management policies and perhaps even replace the CFO.

This paper aims to propose a machine learning approach-based power theft detection using Garra Rufa Fish (GRF) optimization. Here, the analyzing of power theft is an important part to reduce the financial loss and protect the electricity from fraudulent users.

In this section, a new method is implemented to reduce the power theft in transmission lines and utility grids. The detection of power theft using smart meter with reliable manner can be achieved by the help of GRF algorithm.

The loss of power due to non-technical loss is small by using this proposed algorithm. It provides some benefits like increased predicting capacity, less complexity, high speed and high reliable output. The result is analyzed using MATLAB/Simulink platform. The result is compared with an existing method. According to the comparison result, the proposed method provides the good performance than existing method.

The proposed method gives good results of comparison than those of the other techniques and has an ability to overcome the associated problems.

Unlimited quantitative easing (QE) is one of the monetary policies used to stimulate the economy during the coronavirus disease 2019 (COVID-19) pandemic. This policy has affected the financial markets worldwide. This empirical research aims at studying the dependence among stock markets before and after unlimited QE announcements.

The copula-based GARCH (1,1) and minimum spanning tree models are used in this study to analyze 14 series of stock market data, on 6 ASEAN and 8 other countries outside the region. The data are divided into two periods to compare the differences in dependence.

The findings show changes in dependence among the volatility of daily returns in 14 stock markets during each period. After the unlimited QE announcement, the upper tail dependence became more apparent, while the role of the lower tail dependence was reduced. The minimum spanning tree can show the close relationships between stock markets, indicating changes in the connection network after the announcement.

This study allows the dependency to be compared between stock market volatility before and after the announcement of unlimited QE during the COVID-19 pandemic. Moreover, the study fills the literature gap by combining the copula-based GARCH and the minimum spanning tree models to analyze and reveal the systemic network of the relationships.

To date, insufficient research has been conducted on gender differences in entrepreneurial activity among entrepreneurs in developing countries. This study aims to analyse the influences of formal and informal institutional factors on entrepreneurial activity among men and women in the context of Saudi Arabia.

This research involves a quantitative analysis of recently collected primary data. Hypotheses are formulated and tested using the Mann–Whitney U test and a binomial logistic regression analysis. Also, the present study draws on institutional economics as a framework to explore how formal and informal institutional factors influence whether Saudi Arabian men and women become entrepreneurs.

The results revealed that compared to the effects of formal institutional factors, the effects of informal institutional factors are more reliable predictors of women’s entrepreneurship behaviour. Specifically, women are more likely than men to be stereotyped and more likely to benefit from networking.

Regarding policy implications, this study suggests several checks for different institutions to increase entrepreneurship among each gender.

The findings presented here advance entrepreneurial research by empirically examining factors that influence men’s and women’s desires to become entrepreneurs in a fast-growing emerging economy. The findings show a substantial shift in the institutional environment and indicate an extremely collectivist society. This study provides a basis for future studies on factors within the institutional environment and their impacts on whether men and women become entrepreneurs in Eastern nations. Regarding policy implications, this study suggests several ways for different institutions to increase entrepreneurship among each gender.

This case is a sequel to the “IndiGrid: Creating India's First Power Transmission InvIT (A)” case. It describes the deal that would replace the trust's original sponsor, Sterlite Power, with a new set of KKR-led financial investors. It provides an opportunity to discuss the consequences of this change on the new investment manager's outlook for management and future acquisitions. The new investment manager, freed from the limiting interest of the original sponsor, had to search for investment opportunities from the perspective of incoming financial investors, which included the new sponsor. It also provides an opportunity to evaluate the trade-offs in investing in operational utility-scale renewable energy assets by the IndiGrid, which had so far only acquired operational transmission assets in its portfolio.

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.

This section describes sustainable development (SD) in relation to infrastructure projects and explains how to evaluate SD. SD is assessed as context-dependent, considering the project’s economic, social, and ecological context. Sustainable road infrastructure projects (SRIP) should encapsulate the complete life cycle from idea to development, functionality, and maintenance. SD should be considered as part of the evaluation process prior to project execution, but it can also serve other functions. Sustainability evaluation must start with project appraisal or evaluation and the earliest stages of project decision-making. Sustainable infrastructure projects (SIPs) are evaluated using a variety of techniques and models, such as cost-benefit analysis (CBA), multi-criteria techniques, ecological and societal impact assessments, ranking techniques, models, and evaluation guidelines. Established SD structures and modelling techniques for infrastructure projects are presented from an SD perspective, with the primary objective of investigating how they operate and determining whether existing models provide an effective method for applying the SD idea into infrastructure development. CBA is a widely used strategy for evaluating alternatives to maximize sociocultural well-being. It is based on the likelihood of costing customer advantages and negative impacts and has been discussed in scholarly articles. The multi-criteria decision analysis (MCDA) approach is an acceptable methodology for addressing complex matters involving high risk, conflicting objectives, different types of information and data, different concerns and points of view, and the representation of complex and evolving biological, ecological, and financial frameworks. It combines many methodologies and offers various advantages over more conventional ways of decision-making and plan development. It should be used to increase community participation and empower partner organizations and should apply several criteria at the same time, including those that are difficult to adjust and quantify. The key difficulty with this strategy is the usage of weightings, which has been sharply criticized by several researchers. Life-cycle assessment (LCA) is an adaptive tool used to assess the ecological effects of a particular action, task, or procedure. It is applied globally to decision-making in numerous fields, including transportation, energy, and water, and has become a typical tool for determining the ecological performance of infrastructure projects. However, it has a few flaws and could benefit from improvements to assess SD with greater precision. It is a fragmented mechanism for assessing the three components of SD, but its incorporation into other evaluation approaches is desirable. The evaluation of societal implications has been conducted using a variety of methods and techniques, but there is currently no standard method for assessing the communal and appropriation consequences of infrastructure initiatives. Social life-cycle assessments (SLCAs) are advancing, but consensus remains a challenge. The Evaluation Partnership and the Centre for European Policy Studies identified several obstacles and challenges to implementing an outstanding societal assessment, such as the term ‘societal impacts’ being potentially overbroad and not adequately defined, and the lack of a suitable method for quantitatively evaluating sociological effects. Additionally, a large section of societal assessments is biased and frequently inconsequential. The chapter discussed the theoretical and methodological stances on sustainable road infrastructure, using current SID concepts and evaluation techniques thoroughly.

Purpose: Leaders must come up with new ideas and motivate their people to welcome new beginnings if they are to adapt to the changing demands of the business. Organisations face challenges in navigating the vast array of possibilities and choices in the volatility, uncertainty, complexity, and ambiguity (VUCA) world. This chapter explores various leadership styles, highlighting leadership initiatives in the context of (VUCA) during the COVID-19 pandemic.

Methodology: Secondary sources were used to collect information and data, including published articles, journals, newspapers, reports, books, and websites. The logical progression was used to comprehend the idea of VUCA leadership and strategies.

Findings of the Study: The VUCA accurately depicted the global landscape after COVID-19. It offered a valuable framework for examining strategy and leadership in a swiftly evolving world. To portray the dynamic characteristics of the corporate environment and to lead, many businesses use VUCA. Furthermore, this study highlights the VUCA leadership essential skills needed for effectively navigating VUCA circumstances.

Practical Implications: This study focuses on VUCA leadership practices and strategies in the workplace. The chapter outlines six key competencies: setting goals, being prepared, putting the customer’s needs first, flexibility and adaptation, decision-making, and collaboration and teamwork. These skills are essential for corporations to endure and thrive in VUCA circumstances. Corporate leaders are encouraged to integrate these skills into their repertoire, equipping themselves to confront challenges in a volatile environment.

1. Analyze the concept of disruptive change and its impact on organizational learning and development; 2. Develop the ability to identify and implement effective behavioral training interventions; 3. Understand the learning and development process; 4. Evaluate the challenges associated with online learning and explore strategies to overcome them; and 5. Recognize the significance of online learning in the current era and acquire knowledge and skills using online tools and applications for different job roles.

This case focuses on the new challenges that Shazia Zaheer, who is Head of the Learning and Development Department, is experiencing as a consequences of COVID-19 in her department. As her learning and development department has been focused primarily on traditional learning modes since the inception of Pakistan Telecommunication Limited (PTCL), she is facing additional challenges in adopting online learning because PTCL has undergone significant structural change. Since 1947, PTCL has been a state-owned enterprise. In 2005, the Pakistan Government privatized PTCL. This privatization resulted in numerous structural changes in management, hierarchy, chain of command, pay structure, product lines, technology and other factors. Employees were reduced from 90,000 to 23,000 as part of a volunteer separation plan, and a new scheme was introduced to streamline the process and improve efficiency. However, the employees at PTCL reacted to this transformation with union strikes and behavioral changes. Hence, this became a daunting challenge for Shazia Zaheer to change employees’ mindsets and instill corporate culture values. Nonetheless, she successfully won the half battle by changing the mindset of employees, and then she faced another challenge, COVID-19. This new normal brought new challenges for Shazia to implement online learning as her department relies solely on traditional modes of learning (classroom-based learning).

This case will be a good teaching aid if included in any courses on “Training and Development,” “Human Resource Management,” “Change Management” and “Online Learning” It would be better at the undergraduate (specialization courses) or graduate level.

Teaching notes are available for educators only.

CSS 6: Human Resource Management.