Search results

Ergonomics usually reciprocate the study about people fitness toward working environment. In addition, financial distress refers a condition of organizations incompetency in generating sufficient revenues or incomes, which thereby refrain them to pay their financial obligations. This study aims to evaluate two independent organizational fields named as ergonomics in first phase and financial distress in manufacturing organization behavior in the second phase. The study presented a resiliency framework for operations and strategic management in the third phase based on various facts received from the distress organizations.

A questionnaire survey based on plant-visit is presented. The study embedded two segments to explicate its novelty. In the first segment, the plant-visit case study is presented and in the second segment, an exploratory data related to financial distress is presented. The study tried to communicate observations related to multiple decision-making fields in single umbrella, where multiple concepts like ergonomics and financial distress of organizations as well as employees are presented. DEMATEL-ANP integrated approach is used to represent the critical financial distress dimensions of employees and their ranking.

The study provided insights toward connecting two independent fields named as ergonomics and financial distress in single umbrella. The study can benefit practitioners in designing policies and procedures in their planning model to effectively achieve organizational goals. The study presented 14 financial distress drivers of employees and advocated the aggregation of ergonomics and financial distress toward developing a holistic framework for attaining organization goals for sustainability.

The study presented a comprehensive understanding about multiple organization decision-making fields toward developing a holistic approach from different aspects for attaining organizational sustainability. The study can be fruitful in stimulating cross-pollination of ideas between researchers and provides a good understandability of ergonomics and financial distress in single roof.

Madan Mohanka set up Tega Industries Ltd. in 1976 to manufacture abrasion-resistant rubber mill lining products used in the mining and mineral processing industries. In 2011, as part of its inorganic expansion strategy, Tega bought a company in Chile. However, post-acquisition, several managerial, legal and commercial problems crept up in its manufacturing facilities in Chile, leading to financial downturn in Tega's fortunes in 2016 and compelling it to planning a revival between 2016-19. However, political unrest and Covid 19 uncertainty has caused a dilemma related to further investments worth INR 1.25 billion. Management is contemplating the next steps.

COVID-19 pandemic has unprecedentedly shattered the entire world economy and development. Without exclusion, the construction industry has undergone very extreme disruption. Many projects have been suspended, many employees lost their jobs and many construction companies bankrupted. This study aims to explore the possible business continuity plans, a roadmap to recovery and strategies to revive the construction industry after COVID-19.

Mix mode method approach was used to address the research problem, and that includes interviews with 16 selected construction experts who have been working in the Malaysian industry for more than 10 years and a questionnaire with 187 construction practitioners. The aim of conducting the interviews is to get an insight into the current impact of the pandemic on the construction industry, and the questionnaire aims to statistically rank the importance of revival strategies using a Likert-type scale. Further, the data were analysed using a univariate approach by calculating the relative importance index to assess the importance of each strategy.

The findings showed that the pandemic has severely affected the Malaysian construction industry in many aspects and effective restoration strategies are necessary to cope with the changes. The strategies were categorized into four different aspects includes health and practice, technology, operational, legal and governmental strategies. The finding shows that the topmost ranked strategy in terms of importance is introducing COVID-compliant operating procedures and protocols on-site by adjusting current working procedures, urgent government stimuli (loan, financial aid to the affected firms) and other financial incentives, leveraging digital and online technology for virtual meeting and communication, comprehensive and revision study of the health guidelines to suit construction activities and digital transformation of work. The study suggests a more in-depth study to evaluate the impact and assess the success of strategies for the betterment of the future of the Malaysian construction industry.

The study presented a better understanding of the possible business continuity strategies for construction industry revival, which are important for decision makers and the government to reconsider for the revival of the industry. The findings also are of interest to the construction stakeholders.

There have been many research addressing the impact of the pandemic on the construction industry, but less are available on the possible strategies for continual and revival of construction industry amid and after the pandemic. It is, therefore, crucial to address this topic, especially the assessment of these strategies based on their importance.

The impact of COVID-19 has caused a recession in economies all over the world. In this context, the current study aims to analyze the prevailing economic scenario using a machine learning approach and suggest sustainable measures to recover the global economy taking the case of Make in India (MII) initiative of developing the economy as a base for the study.

A well-known topic modeling technique – Latent Dirichlet allocation (LDA) algorithm has been employed to extract useful information characterizing the existing state of selected sectors under the MII initiative alongside catalytic policies that have been implemented for the same. The textual data acts as the base of the study upon which suggestions are provided.

The findings obtained suggest that digital transformation will play a key role in concerned sectors to optimize the performance of manufacturing organizations. Additionally, inter-relationship between Key Performance Indicators for the economy's revival is crucial for effective utilization of foreign direct investment resources.

The novel efforts to utilize MII initiative as a case present crucial information which can be used by policy makers and various other stakeholders across the globe to enhance decision-making and draft legislation across different sectors to empower the economy.

The study presents a novel approach to utilize the MII initiative by identifying important measures for crucial sectors and associated policies that have been presented by employing a text mining approach which in itself makes it unique in its contribution to research literature.

Tourism is considered one of the globe's most prominent sectors, generating considerable forex revenues and employment generation, contributing to world peace and solidarity among many nations. However, it is negatively influenced by different factors like the spread of diseases, terrorist attacks, outbreaks of war, etc. The COVID-19 pandemic triggered unforeseen upheavals, resulting in demand and supply uncertainties in nearly every area of the economy (El-Erian, 2020). Thus, it is relevant to study the impact of the pandemic on the tourism industry. This chapter explains the journey of tourism during the COVID-19 pandemic by portraying the status of global tourism, how it impacted the Indian economy and its revival strategies, with special mention to Kerala tourism. The pandemic also resulted in a considerable change in the travel intentions of tourists, their travel preferences and their attitude towards travel. Hence, this chapter also presents the changed travel intentions of tourists that will help the industry players modify their products per the tourist's expectations. Finally, this chapter presents how the tourism industry recovered from the pandemic from both the supplier and demand perspectives, which will be helpful for all tourism stakeholders.

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 case is written based on publicly available data from primary sources like the company’s annual reports and presentations and from secondary sources, as indicated in the references.

Barnes & Noble Inc. (B&N), one of the oldest and largest American retail booksellers founded in 1917, was facing a grim business situation underpinned by a fall in demand, a change in consumer preference and stiff competition. After almost a century of being in the business, B&N was experiencing a fall in market share and weak stock market performance. In 2019, the company was sold to Elliot Advisors – a hedge fund – for US$638m. With the appointment of new chief executive officer (CEO) James Daunt in August 2019, a man known for the turnaround of similar businesses, B&N expected its business’s revival and reorganization strategy to turn profitable. Its long-term strategy of beating competitors with its offerings’ sheer volume and low prices was no longer viable. The turmoil was compounded by top management crises with the repeated changes and ousting of several CEOs in a short span, alongside the COVID-19 pandemic and subsequent lockdowns in 2020 and 2021. Daunt was considering how to overcome the crisis and act fast to reposition the company and regain the loyalty of its customers. Was there more that the company could do to improve the company’s position and restore profitability?

The case can be used in strategic management and entrepreneurship classes at undergraduate and postgraduate levels. The case can be used in an investment analysis and management course to teach students the industry analysis technique using Porter’s five forces model.

Madan Mohanka set up Tega Industries Ltd in 1976 to manufacture abrasion-resistant rubber mill lining products used in the mining and mineral processing industries. In 2006, as part of its inorganic expansion strategy, Tega bought a mill-liner company in South Africa. Buoyed by this growth, two acquisitions were made in Australia and Chile in the year 2011. However, post-acquisition, several managerial, legal and commercial problems crept up in its manufacturing facilities in Chile, leading to financial downturn in Tega's fortunes in 2016 and compelling it to either plan a revival or divest its interest in its Chilean Plant.

The study explores the evolution of Indian domestic electronics manufacturing post-economic reforms and also investigates the lack of natural growth stages among Indian start-up/SME electronics manufactures.

The theoretical framework is inspired by Dawar and Frost's survival strategy theory that local companies may follow to overcome competitive threats from MNCs. The study adopts a qualitative methodology, more precisely, a phenomenological approach to walking through policy/regulatory reforms amid market distortions, technological gaps and colonial mindset from the perspective of Indian domestic electronics manufacturers. The study has adopted Gioia method of data analysis to inductively suggest a few research propositions.

The phenomenological approach revealed eight essential structure (essence) narratives to explore the complex issue that plague the industry: make in India, made in India, preferential market access strategy, equitable market access strategy, blue ocean strategy, competitive positioning strategy, technical capability and importance of policy/regulatory arbitrage.

The situation of Indian electronics manufacturing units is comparable to the bonsai tree situation, where natural evolution in business stages does not exist; they are born and die as start-ups/MSMEs. The study advocates for equitable market access by removing market distortions. The long-term solution may lie in making available locally manufactured products as a dependable alternative to the imported products or produced locally by MNC OEMs in terms of cost, quality, technology, volume, after-sale service and integrated supply chain.

While the favorable FDI policies, digital India and make-in India initiatives have strengthened domestic electronics production, it is yet to significantly impact India's position in global trade, including manufacturing and exports.

The COVID-19 crisis has affected almost all the global sectors. The hotel industry, however, was hit hardest challenging the leadership. This study, therefore, attempts to explore the challenges hospitality leadership in India face to navigate the crisis. The study additionally addresses how leaders manage the expectations of key stakeholders; communicate hard decisions with employees, pursue strategies for revival and explores the role of technology to survive the crisis.

The study adopts a qualitative approach involving structured interviews with 16 senior hospitality leaders consisting of CEO, vice president, general managers, directors, entrepreneur and general managers from various organisations like hotels, restaurant chains, food services and facilities management services. Data were content analysed involving coding techniques.

The leadership challenges included making customers and employees feel safe, optimising operations, agility and resilience of leaders, maintaining a balance between stakeholders, managing employee stress and ensuring cash reserves. The study found that leaders manage the expectation of various stakeholders by maintaining balance, demonstrating empathy and agility. The hard decisions are communicated with the employees through involvement, empathy and alleviating stress.

The study contributes by identifying twelve themes from the participants' responses under five major themes-labelled as leadership challenges, managing stakeholders, communicating with the employees, the role of technology and best practices of surviving the crisis. Future research can be conducted on such sub-themes in different countries.

As the tourism industry in India is recovering after the second wave, the governments along with all stakeholders, must launch special events for promoting the tourism sector. Safety measures like making vaccination certificates for all tourists and employees of the tourism sector should be made mandatory. Further, special certification following the COVID-19 protocol needs to be introduced for hotels and catering establishments. A fund generated from the sector's direct tax contribution needs to be established to support the employees.

The study has several social implications. The study results can unite all industry stakeholders to shape the post-pandemic era through collaboration. Empathetic leadership can take the industry out of chaos by balancing the interests of the various stakeholders of society. The pandemic has proven that we all are vulnerable to risks and challenges; leaders have a vital role in taking proactive steps to ensure that such uncertainties do not cause unprecedented damage.

This study expanded the research on the hospitality leadership challenges in managing crises in the backdrop of the crisis caused by COVID-19 pandemic. The conceptual model, variables, themes and sub-themes utilised are original contributions to the hospitality literature.