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One of the objectives of smart village is the efficient use of regional resources by local people to improve economic, social and environment conditions. Small-scale dairy…
One of the objectives of smart village is the efficient use of regional resources by local people to improve economic, social and environment conditions. Small-scale dairy farm (SDFs) exist in every village of India, contributing significantly to local economy and welfare of few families. The purpose of this work is to develop a mechanism to make SDF not only efficient but effective in operations.
A systems thinking approach is used to identify the variables influencing a SDF and develop a general framework – RAMHI (resources, alternate revenue, manpower, herd and infrastructure) comprising endogenous and exogenous variables. A representative SDF as a case study was chosen to implement RAMHI and assess its implementation feasibility and economic benefits.
Implementation of RAMHI gradually improves the economic benefits of a SDF. The key performing indicators like average milk produced/day; milk revenue/fodder cost; number of successful artificial insemination (AI) of herd/number of AI of herd; milking cow/dry cow; and milking cow/total cow, increased substantially in two successive years.
The literature reported and discussed individual variables influencing functioning of SDF while there are few conceptual frameworks proposed, comprising not more than three variables. This paper not only presents a comprehensive generalized framework – RAMHI, which comprises five variables like resources, alternate revenue, manpower, herd and infrastructure but also explains the implementation strategy and its benefits using a case study.
The coronavirus pandemic (COVID-19) and the associated economic lockdown provided a jolt to businesses around the world and the global economy. Amid the ongoing…
The coronavirus pandemic (COVID-19) and the associated economic lockdown provided a jolt to businesses around the world and the global economy. Amid the ongoing uncertainty, circumstances varied across business sectors and regions, but the common goal for business organizations was to respond effectively, devising strategies to survive the turmoil and accelerate recovery. The narrative in India was no different from the rest of the world. Due to the novelty of the event, literature regarding its impact on the strategic management of firms was scarce. Thus, this paper aims to attempt to ascertain the crisis impact on firms and subsequently unravel the tactical short-term and long-term strategic responses initiated by Indian firms.
The authors carried out an empirical investigation to comprehend the strategic foresight adopted by Indian firms. Following a structured literature review, the authors conducted semi-structured open-ended interviews with 28 business experts who were involved in drafting strategic responses for their respective firms. Subsequently, the authors performed a thematic content analysis of the expert interview responses to document firm-level strategic responses to the COVID-19 crisis and associated economic lockdown. The authors further searched reputed media articles to supplement and triangulate the primary research findings with management perspectives.
The authors identified that managers had adopted a dual approach responding to the disruption. Companies simultaneously focused on surviving the crisis in the short-term by reconfiguring existing resources and initiated long-term recovery by mobilizing efforts for a redesigned business model. The research findings indicated that companies had adapted to the dynamic chaotic crisis environment to fulfill the changed consumer expectations. Remote working was widely implemented, supply networks were adjusted, operations were managed with minimal resources, working capital was closely monitored and the product-portfolio was revamped to reap benefits in an essentials-only world. The impact of several strategic firm responses was determined through this study on the revenue, profitability, operational costs and regulatory adherence of the companies along with the ability to meet stakeholder expectations. The study suggested that companies encouraged innovative solutions and highlighted the importance of collaborative inter-organizational practices.
The study contributed to an inter-theoretical perspective on firm strategic initiatives to confront a global crisis. Resource-based view, dynamic capabilities perspective and industrial-organizational theory-based perspectives, were applied. This facilitated an extensive analysis of the entire business ecosystem to identify various paths to accelerated recovery during and post COVID-19 world.
The research findings would aid managers in drafting a comprehensive response strategy during and post COVID-19 world. This study results would help managers in addressing multiple concerns such as the sustainability of operations in the short-term through working capital management, the fulfillment of changing consumer needs through sustained innovation and business model alterations to ensure long term growth. The study enabled managers to prioritize necessary actions, ascertain the impact of strategic initiatives and build sustainable competitive advantage for long-term growth.
The novel coronavirus pandemic and the associated economic lockdown impacted firm strategies and this was one of the very first empirical studies regarding how firm-level short-term tactics and long-term strategies were getting reshaped. Traditionally, companies were prepared to handle localized disruptions but a crisis of such epic global proportions jeopardized most business. This study provided an extensive review of the short-term tactical and long-term strategic response perspectives adopted by Indian firms to absorb the impact of this unique crisis and expected recovery with renewed strength. This was one of the first research articles to provide an inter-theoretical perspective on the ongoing global pandemic. This integrated view of the possible impacts of firm-level strategic initiatives provided a detailed knowledge repository to design the crisis response capability of firms.