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Several research papers related to electricity price forecasting have been reported in the leading journals in last 20 years. The purpose of this paper is to present a comprehensive survey and comparison of these techniques.

The present article provides an overview of the statistical short‐term price forecasting (STPF) models. The basic theory of these models, their further classification and their suitability to STPF has been discussed. Quantitative evaluation of the performance of these models in the framework of accuracy achieved and computation time taken has been performed. Some important observations of the literature survey and key issues regarding STPF methodologies are analyzed.

It has been observed that price forecasting accuracy of the reported models in day‐ahead markets is better as compared to that in real time markets. From a comparative analysis perspective, there is no hard evidence of out‐performance of one model over all other models on a consistent basis for a very long period. In some of the studies, linear models like dynamic regression and transfer function have shown superior performance as compared to non‐linear models like artificial neural networks (ANNs). On the other hand, recent variations in ANNs by employing wavelet transformation, fuzzy logic and genetic algorithm have shown considerable improvement in forecasting accuracy. However more complex models need further comparative analysis.

This paper is intended to supplement the recent survey papers, in which the researchers have restricted the scope to a bibliographical survey. Whereas, in this work, after providing detailed classification and chronological evolution of the STPF techniques, a comparative summary of various price‐forecasting techniques, across different electricity markets, is presented.

Business environment, international business management.

The case is suitable for students of the business environment, and of international business management.

The case revolves around the reaction of the Finance Ministry of India on Vodafone's tax case and its implications on FDI and the foreign investors who are investing in India. The core issue is the political risk(s) faced by Vodafone even after having won the tax case in the Supreme Court, the highest judiciary body in India. The Government of India has amended the law to bring the tax into retrospective mode and it signifies the impact of political decisions on business organizations.

The case can aid in understanding the effects of changes in a political system and legal framework on the efficacy of business entities; and the importance of, and intricacies involved in, the formulation of political risk mitigating strategies while entering into new markets. The key learning outcomes are: understanding various types of political risks faced by multinationals; assessing the political risks involved in foreign investments; and appreciating the possible mitigating strategies to handle such risks.

Teaching notes are available, please consult your librarian for access.

The case aims to deal with multigenerational entrepreneurship. The family business of sports goods was initiated by Yashpal Aggarwal and his friends in the 1950s. Yashpal acquired the art of doing business and started initially with trading of sporting goods in Mumbai. Yashpal had three sons, Ashok, Ashwini and Rajesh, who ventured into sports trading business as well. After the demise of Yashpal, Ashok shifted to Jalandhar and started a manufacturing unit, producing roller skates. Ashwini, being entrepreneurial and innovative, had always desired to professionalise the business and hence started with Okini Sports. Okini Sports emerged as the first organised professional sports mall in India.

Based on case research, individual interviews at different levels, testing the case several times and filling the case gaps during the process to authenticate information, multiple sources of information have been used.

Businesses largely compete on the basis of available talent, competency and capability. Family businesses must be open to induct competent people within the family with the required skills to lead the company. If a family nurtures a member with requisite skills, values, to keep shareholders, key customers, and suppliers loyal to the business, then family leadership is the best option. As the business grows in dimension, differential capabilities are required to run the business competitively, hence, inducting talented individuals as professionals is a better option. A family must be realistic about the talents available internally.

This case is restricted to sports family business entrepreneurship in the context of India, but has a great learning towards multigenerational entrepreneurship.

The case is original with the family in its fourth generation, the youngest looking to diversify and professionalize the business, set his family dreams of setting up the biggest sports mall in India.

Safety analysis has been done for thermal non-homogeneous thick-walled circular cylinder under internal and external pressure. The paper aims to discuss these issues.

Transition theory based on the concept of generalized principal Lebesgue strain measure has been used which simplifies the constitutive equations by prescribing a priory the order of the measure of deformation and helps to achieve better agreement between the theoretical and experimental results.

From the analysis, the paper can conclude that by introducing a suitably chosen temperature gradient, non-homogeneous compressible circular cylinder with internal and external pressure for non-linear measure is on the safer side of the design as compared to the cylinder without temperature because circumferential stresses are less for cylinder with temperature as compared to cylinder without temperature.

Introduction of temperature gradient leads to the idea of “Stress Saving” and minimizing the possibility of fracture of cylinder.

The paper shows that circumferential stresses are less for cylinder with temperature gradient as compared to cylinder at constant temperature, which leads to the idea of “Stress Saving” and minimizing the possibility of fracture of cylinder.

Understanding of the farmers’ buying process is of great economic and strategic relevance for agri-business firms. The purpose of this paper is to explain the extensiveness of the buying process of Indian farmers in their purchase of agri-inputs and discusses its implications for agri-industries.

Four different dimensions of the buying process, namely, buying decision time, number of information sources used, number of evaluated suppliers, and number of conversations with suppliers were used to study the extensiveness of the buying process of the farmers. Responses of 278 farmers were analyzed with the help of mean and frequency distribution, analysis of variance, and Pearson correlation coefficient.

Overall, the extensiveness of the buying process for the frequently purchased inputs was less in comparison to that of the infrequently purchased inputs. However, there were differences in the extensiveness of the buying process for the inputs within the same category. Farmers’ characteristics influenced their buying process and the impact was more evident in case of frequently purchased agri-inputs. All the four dimensions of the farmers’ buying process were found to be positively correlated for most of the agri-inputs.

The farmers’ buying process varies for different agri-inputs and is dependent on the farmers’ characteristics. Firms can use the findings of the study to develop appropriate marketing strategies to broaden their customers’ base and increase sales.

The paper offers an insight into the farmers’ buying process in India and how the farmers behave in different dimensions of the buying process. There are very few studies on the subject carried out in the Indian context.

This paper aims to encapsulate the gendered support and hindering factors along with the role of the state experienced by Delhi-based women entrepreneurs in setting up/operating their enterprises amidst the challenges posed by the coronavirus disease 2019 (COVID-19) pandemic.

The study used mixed methods to explore the challenges faced and recovery mechanisms adopted by women entrepreneurs with special reference to the COVID-19 pandemic. A total of 50 Delhi-based young women entrepreneurs (42 actual entrepreneurs + 8 prospective/struggling entrepreneurs) selected using snowball/purposive sampling were studied through both a semi-structured questionnaire and personal interviews. National Small Industries Corporation (NSIC) and micro, small and medium enterprises (MSME) were consulted for the government’s policy documents and data. The SPSS package was used for quantitative data analysis.

Low-budget/very small-scale women entrepreneurs face common as well as gender-based challenges in the context of the market, finance, social capital, family support and awareness in addition to accessing the state’s resources/policies in both their startups and crisis situations, such as the COVID-19 pandemic. Although gender sensitization, entrepreneurial family background, and equal access to technology and the Internet has enabled women entrepreneurs to initiate, adapt, and scale their enterprises, male domination within the family, society, market, and state apparatuses is omnipresent and has served as a bottleneck for women-owned startups while hindering the recovery of their enterprises amidst the COVID-19 pandemic.

The study was limited to exploring the challenges and prospects of Delhi-based women entrepreneurs at the beginning of their enterprises and amidst the COVID-19 pandemic. On the other hand, the study had access to data and facts announced by the Indian government. No data were available on the implementation of policies and programs, and therefore specific policy analysis was not attempted. However, the reachability and accessibility of government resources and policies were employed.

The study highlights the complexity of patriarchy, which hampers women entrepreneurs in all family, society, market and state domains. Therefore, policy enactment and implementation and further research on women entrepreneurship are suggested to focus more deeply on the gender dimension.

The data used in this work comprised inputs from government sources as well as insights from fieldwork that have not been used by any other publication.

The purpose of this paper is to propose a method to compute RAMD indices to measure and improve the performance of skim milk powder production system of a dairy plant under real working conditions.

The present work is carried out by developing performance model based on Markov birth-death process. The skim milk powder production system consists of six units. The first order governing differential equations are derived using the mnemonic rule and further solved to calculate RAMD indices i.e. reliability, availability, maintainability, dependability, MTBF, MTTR and dependability ratio for each subsystem of the system.

The subsystem SS1 comprising of chiller and cream separator is the most critical from maintenance point of view, as the reliability, availability, maintainability, dependability, MTBF and dependability ratio indices are low as compared to those of other subsystems of skim milk powder production system of the dairy plant.

The RAMD indices of the present work is very useful for finding the critical subsystem and its effect on the performance of the system working under real working conditions. Further, based on findings the maintenance priorities for various subsystems can be decided.

Technology has penetrated in every aspect of society, and information and communication technologies (ICTs) have become a part of every aspect of life. Over 20 years of ICT use, nearly every government and the big business area has been radically transformed. Education is a profoundly social profession, and historically, effective education has been associated with good instructors who have a high level of personal connection with students. The use of ICT in higher education allows for more student-cantered learning settings. Nevertheless, as digital media and information continue to take over our lives, the importance of ICT inside higher education continues to rise. The higher education system plays a crucial part in every country’s growth in improving human resources (HR); higher education should create an educated population that will bring peace and socioeconomic and societal growth. Education reform agendas benefit from the use of ICT in most developing nations. ICT in education is one of the most practical approaches to improve India’s higher education system. The purpose of this review chapter was to examine the role of ICT in higher education. This chapter addressed how ICT may promote and revolutionize higher education in India through new government initiatives. Furthermore, the chapter addressed the issues and challenges associated with the use of ICT for educational purposes.

Purpose: Human capital development strategies and components in hospitality are covered in this chapter. This study examines hospitality human capital development, including training, leadership, technology integration, staff well-being, diversity, equality, and inclusion (DEI).

Design/methodology/approach: This chapter uses secondary data from the relevant research article literature. The design shows how human capital development techniques affect hospitality. This study addresses human capital development needs in the hospitality business as technology becomes increasingly essential.

Findings: Hospitality worker adaptation and flexibility for human capital development, including wellness efforts for work–life balance, are discussed in the chapter. The results also address recognition and incentive systems to foster a healthy hospitality workplace culture that supports employee human capital development.

Research limitations: Human capital research in hospitality is minimal. Future research should examine additional human capital determinants affecting hospitality sector success and their relevance in varied settings for global hospitality and tourism growth.

Practical implications: This study can help hospitality and tourism stakeholders, policymakers, and local communities improve the symbiotic relationship for human capital development. Practical implications emphasise the necessity of inclusive development initiatives that empower hospitality communities and maintain global hospitality and tourism.

Originality/value: This study examines how human capital development affects hospitality, particularly tourism. The novelty is studying development strategies as drivers for good change, teaching sustainable global human capital development in international tourism.

The purpose of this paper is to provide the guidance on a design and integrity evaluation of a cylinder under pressure, for which stress analysis has been done for transversely isotropic thick-walled circular cylinder under internal and external pressure with thermal effects.

Transition theory has been used to evaluate plastic stresses based on the concept of generalized principal Lebesgue strain measure which simplifies the constitutive equations and helps to achieve better agreement between the theoretical and experimental results.

It can be concluded that circular cylinder with thermal effects under internal and external pressure made of isotropic material (steel) is on the safer side of the design as compared to the cylinder made of transversely isotropic material (i.e. magnesium and beryl) because percentage increase in effective pressure required for initial yielding to become fully plastic is high for isotropic material (steel) as compared to transversely isotropic material (i.e. magnesium and beryl). It can also be concluded that out of two transversely isotropic materials, beryl is better choice for design of cylinder as compared to magnesium material because percentage increase in effective pressure required for initial yielding to become fully plastic is high for beryl as compared to magnesium.

A detailed investigation of thermal transversely isotropic thick-walled circular cylinder under internal and external pressure has been done which leads to the idea of “stress saving” that minimizes the possibility of fracture of cylinder.