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This study aims to identify the antecedents of strategic thinking and its relationship with competitive advantage. Further, this study analyses the mediating effect of strategic thinking between its antecedents and competitive advantage.

A self-reported questionnaire with 51 questions was floated among 220 professionals from various industries in India. The response was analysed using the partial least squares-structural equation modelling methodology using SmartPLS software.

The direct effect of creativity, corporate culture and knowledge management are established with strategic thinking, as well as a competitive advantage. Also, the study finds a significant relationship between strategic thinking and competitive advantage. The study finds no mediation (direct effect) in the case of creativity, corporate culture and knowledge management. Further, no mediation (no relationship) is found in the case of vision.

Business must start adopting strategic thinking practices in their decision-making process to create a competitive advantage. Further, the influence of corporate culture, creativity and knowledge management on strategic thinking highlights their importance.

The study establishes the impact of antecedents of strategic thinking on competitive advantage. The study highlights the importance of other factors along with strategic thinking for achieving competitive advantage.

Entrepreneurship, internationalization, family-owned business management, strategic management.

MBA/postgraduate management program courses on family business management. The case can be taught at the beginning of the course to acquaint students with the dynamics of family-owned businesses. MBA/postgraduate/undergraduate courses on entrepreneurship. It can be used in the middle of the course to highlight the challenges presented by an entrepreneur due to change in the business environment and macroeconomic scenario. MBA/postgraduate course on strategic management. It can be used at the beginning of the course to introduce strategies for managing and sustaining growth of a business. MBA/postgraduate course on organizational development. It can be used in the middle of the course to help students understand the importance of designing an optimal organizational structure for a family business.

FragraAroma was an Indian fragrance company. Anil Gupta, the Founder and Managing Director of FragraAroma, and his sister Nisha were equal shareholders of the company. With changes in the Foreign Direct Investment Policy in 2013 in India, Anil and Nisha's husband Tarun had different expansion plans for FragraAroma. While Anil was planning to expand FragraAroma internationally, but his sister and her husband wanted diversification of the company's customer segment in the domestic market itself. The case is poised at the juncture, where Anil was facing a labyrinth of critical decisions. Would he go ahead with Tarun's expansion plan or stick to his plan of internationalization? Would his decision affect the harmony of the family? Was there a way that could enable him sailing his family and family business out of the doldrums?

This case is primarily about a family business and the dilemmas faced by the owner of that family business. The case captures the challenges faced by a family business in sustaining growth and competitiveness. The case can be used to understand how decisions are taken in a family-owned business. To understand the challenges faced by a family-owned business while developing and implementing its growth strategies. To understand the opportunities and challenges presented to a family-owned businesses when macroeconomic scenarios change. To understand the spillover effects of business decisions on family relations in a typical family-owned business setup.

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The readers will gain practical insights on the key attributes of a women entrepreneur, the role of innovative product design and usage, the core challenges and opportunities and the strategies to overcome entrepreneurial hurdles in the Moonj handicraft business.

The case is about “Rekhaakriti”, a handicraft artisan-oriented firm, which deals in the business of selling handicrafts items like traditional wooden toys, Moonj baskets, rice bowls and vermilion boxes, in both business-to-business (B2B) and business-to-consumer (B2C) markets. Incorporated as a non-governmental organization (NGO) in the year 2014, “Rekhaakriti” was founded with the purpose of preserving, promoting and advancing the Moonj handicraft. Throughout its formative years, the organization experienced several organizational and operational challenges and got almost on the edge of collapse. The dilemma that surrounded Rekha Sinha, a key founding member of “Rekhaakriti”, was whether to carry or dissolve the organization. But, after much contemplation, she decided to convert the organization to a sole proprietorship firm in the year 2017. However, the restructuring decision was also proving to become less effective in attaining the objectives for which the firm got established. This led the owner, Rekha Sinha, to further dug deep to identify obstacles (both internal and external) that impede her firm’s expansion and growth. This case narrates Rekha Sinha's intricate entrepreneurial path in building an innovative handicraft organization and explains how she overcame the overall organizational and operational obstacles. The case provides the context for students to assume the role of protagonist and explore creative strategies for overcoming market obstacles through upskilling, design intervention and product innovation.

The case study is intended for the students pursuing their graduation and post-graduation courses in business, management studies, marketing and entrepreneurship. The case also provides suitable insights to management trainees and executives.

Teaching notes are available for educators only.

CSS 8: Marketing.

The purpose of this paper is to investigate computationally the hydrothermal characteristics for forced convective laminar flow of water through a channel with a top wavy wall and a flat bottom wall having metallic porous blocks.

The governing equations are solved computationally using a finite element method–based numerical solver COMSOL Multiphysics® for the following range of parameters: 10 ≤ Reynolds number (Re) ≤ 500 and 10^–4 ≤ Darcy number (Da) ≤ 10^–1.

The presence of porous blocks significantly influences the heat transfer rate, and the value of local Nusselt number increases with the increase in Da. The value of the average Nusselt number decreases with Da for the top wall and the same is enhanced for the bottom wall of the wavy channel with porous blocks (WCPB). The value of the average Nusselt number for WCPB is significantly higher than that of the wavy channel without porous block (WCWPB), plane channel without porous block (PCWPB) and plane channel with the porous block (PCPB) at higher Re. For PCPB, the performance factor (PF) is always higher than that of WCWPB and WCPB for Da = 10^–4 and Da = 10^–3. Also, PF for WCPB is higher than that of WCWPB for higher Re except for Da = 10^–4. Further, the value of for WCPB is higher than that of PCPB at Da = 10^–2 and 10^–1 at Re = 500.

The current study is useful in designing efficient heat exchangers for process plants, solar collectors and aerospace applications.

The analysis of thermo-hydraulic characteristics for laminar flow through a channel with a top wavy wall and a flat bottom wall having metallic porous blocks have been analyzed for the first time. Further, a comparative assessment of the performance has been performed with a wavy channel without a porous block, a plane channel without a porous block and a plane channel with porous blocks.

The purpose of this study is to analyze the thermal, hydraulic and entropy generation characteristics for laminar flow of water through a ribbed-wavy channel with the top wall as wavy and bottom wall as flat with ribs of three different geometries, namely, triangular, rectangular and semi-circular.

The finite element method-based numerical solver has been adopted to solve the governing transport equations.

A critical value of Reynolds number (Re_cri) is found beyond which, the average Nusselt number for the wavy or ribbed-wavy channel is more than that for a parallel plate channel and the value of Re_cri decreases with the increase in a number of ribs and for any given number of ribs, it is minimum for rectangular ribs. The performance factor (PF) sharply decreases with Reynolds number (Re) up to Re = 50 for all types of ribbed-wavy channels. For Re > 50, the change in PF with Re is gradual and decreases for all the ribbed cases and for the sinusoidal channel, it increases beyond Re = 100. The magnitude of PF strongly depends on the shape and number of ribs and Re. The relative magnitude of total entropy generation for different ribbed channels varies with Re and the number of ribs.

The findings of the present study are useful to design the economic heat exchanging devices.

The effects of shape and the number of ribs on the heat transfer performance and entropy generation have been investigated for the first time for the laminar flow regime. Also, the effects of shape and number of ribs on the flow and temperature fields and entropy generation have been investigated in detail.