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There is a global convergence on issues pertaining to sustainability, such as water sharing, energy security and waste management. Symbiosis focus the need to secure an enduring relationship satisfying the quality of life need for novelty aspirations of the customers and stakeholders. This is addressed as sustainable differentiation. This study aims: to understand the need to develop the symbiosis of sustainable development and sustainable differentiation, to analyze the research framework of sustainability symbiosis though the underlying attributes of: need to develop, need to innovate and need to differentiate.

The research design conceptualizes sustainable development as a process or evolution where firms may be symbiotically configured on the attributes of sustainability, development and differentiation. The logit analysis methodology addresses competitiveness coupled with environmentally benign technology to sustain the customers' preference for products and services that satisfy their quality of life needs. The approach is to estimate the symbiotic index of a local, regional or globally scalable habitat. The competitiveness coupled with environmentally benign technology can be sustained when the customers' preference for products and services satisfies their quality of life needs.

The output indicates the significance (0.037 at 95 percent confidence level) of the constant term representing “quality of life need for novelty” justifying symbiotic linkage of sustainability, development and differentiation. There is goodness of fit (α 0.5617, Wald statistic 0.093) to establish the significance of the three variables of GDP (representing intensity of eco-efficient technology), population (standing for intensity of competitiveness) and sustaining empathy (in response to climate change). Their statistical significance indicates the propensity to differentiation given sustainable development would substantively improve the overall construct.

There is need for further research with primary data. The assumption that sustainable differentiation may become an indicator variable that may assume binary form needs thorough justification. The key implication is that differentiation creates grassroots distinctiveness to development that transforms sustainability into opportunity. This cost to benefit gap is bridged through the symbiotic chain of sustainability, development and differentiation.

This sustainable differentiation metric harnesses a dormant, yet fundamental key to the success of sustainable development, the emotive linkage. This explanatory variable adds robustness to sustainable development models by way of etching a long-term memory trace for the sustainability practices of the organization as well as innovation efforts to differentiate long term providing an essence of competitiveness.

Abundance of cultural resources is a typical feature of traditional villages. It is particularly important to explore the development path of traditional villages from the perspective of cultural resources.

Based on symbiosis theory, establish a symbiotic development mechanism of traditional village characteristic cultural elements and use grey relation analysis (GRA) to evaluate the resource advantages of different cultural attributes. This paper proposes the traditional village development model of different symbiotic units in the county. An empirical study is conducted in conjunction with the national historical and cultural city of Xunxian County, Henan, China.

The results show that (1) according to the different attributes of humanistic cultural resources, artificial cultural resources and natural cultural resources in traditional villages, different symbiotic units can be divided, and advantageous resources can be shared through the symbiotic interface; (2) using GRA to calculate the grey relational degree between cultural resources sequence of different attributes and the sum of cultural resources sequence in the county and define as the active degree of humanistic culture, the inheritance degree of artificial culture and the integrity of natural cultural resources are shown to reflect the status of the inheritance of humanistic cultural resources, the existence of artificial cultural resources, and the protection of natural cultural resources; and (3) a comparative analysis of the active degree, inheritance, and integrity of each symbiotic unit leads to the proposal of three symbiotic models of folklore vitality, characteristic space, and natural ecology, all of which are beneficial to promote the formation of a symbiotic environment.

The main innovation of this paper is to put forward the research scale of symbiosis theory in the field of urban and rural planning at the county level, delimit the symbiosis units of traditional villages at the county level, complete the quantitatively evaluate cultural resources in different symbiotic units with GRA, revealing the symbiotic development mechanism of cultural resources characteristic elements in traditional villages.

The sustainable transition towards the circular economy requires the effective use of artificial intelligence (AI) and information technology (IT) techniques. As the sustainability targets for 2030–2050 increasingly become a tougher challenge, society, company managers and policymakers require more support from AI and IT in general. How can the AI-based and IT-based smart decision-support tools help implementation of circular economy principles from micro to macro scales?

This chapter provides a conceptual framework about the current status and future development of smart decision-support tools for facilitating the circular transition of smart industry, focussing on the implementation of the industrial symbiosis (IS) practice. IS, which is aimed at replacing production inputs of one company with wastes generated by a different company, is considered as a promising strategy towards closing the material, energy and waste loops. Based on the principles of a circular economy, the utility of such practices to close resource loops is analyzed from a functional and operational perspective. For each life cycle phase of IS businesses – e.g., opportunity identification for symbiotic business, assessment of the symbiotic business and sustainable operations of the business – the role played by decision-support tools is described and embedding smartness in these tools is discussed.

Based on the review of available tools and theoretical contributions in the field of IS, the characteristics, functionalities and utilities of smart decision-support tools are discussed within a circular economy transition framework. Tools based on recommender algorithms, machine learning techniques, multi-agent systems and life cycle analysis are critically assessed. Potential improvements are suggested for the resilience and sustainability of a smart circular transition.

The purpose of this paper is to explore the relationship between effective knowledge management and corporate performance, to explore the dynamic symbiosis phenomenon of effective knowledge management based on organizational ecology with multinational companies (MNCs) and non-multinational companies (non-MNCs) and to explore the symbiosis strategy of knowledge management between multinational and non-multinational companies (non-MNCs) in China.

To measure effective knowledge management, this paper first uses structural equation model to measure knowledge management, based on the evolution dynamics equation in organizational ecology to measure the effectiveness of knowledge management, and studies the symbiosis of effective knowledge management between MNCs and non-MNCs based on ecological perspective.

Effective knowledge management can promote the financial performance of enterprises, but different degrees of effectiveness have different effects. In addition, the coupling and collaboration between knowledge management and corporate performance can reflect the value of effective knowledge management. The results show that effective knowledge management plays a positive moderating effect between knowledge management and corporate performance. Finally, the effective knowledge management system of MNCs (non-MNCs) has negative effect on non-MNCs (MNCs), showing the exclusive relationship between MNCs and non-MNCs in China.

The effectiveness of knowledge management is only based on the measurement of financial performance coupling. For other types of performance, it needs to be tested. The samples may not cover symbiosis relationship of effective knowledge management in other countries.

This paper provides practical and theoretical reference for confirming the symbiotic interaction and identifying the opportunities and challenges of knowledge management among different types of corporation groups.

The paper is one of the pioneering studies to explore the pattern of symbiotic evolution of effective knowledge management between MNCs and non-MNCs. From completely new perspectives, this study advances the research of knowledge management to a new and promising area.

This study aims to explore the patterns of corporate social responsibility (CSR) practices and investments across different ownership groups and relevance of CSR practices in the vision and mission (V&M) statements of firms.

The paper uses the neo-institutional theory approach, which explains similarities and differences in the CSR practices of organisations embedded within (and between) similar sectoral contexts. The study accounts the CSR activities of the top 100 companies listed on the Bombay Stock exchange (BSE) based on their ownership and checks the overlap of the CSR activities conducted by the companies with the ongoing social development schemes launched in India during the same of time. The time period between 2017 and 2020 is chosen to analyse the CSR studies. The study uses content analysis technique to derive conclusions. A textual analysis of top 100 listed firms across all ownership groups aimed at understanding patterns of CSR practices opted by the different groups and coherence of CSR patterns in the V&M statements. CSR related keywords were analysed in the V&M statements to understand what influence reporting of CSR practices in the strategic communication of firms.

Overall analysis indicated that top 100 firms prefer to invest in the areas of “Education”, “Sustainability” “Skill” where public-owned firms preferred towards “Sanitation” and “Environment/Sustainability” showing concurrence with local development goals. Private and foreign groups preferred to park their CSR funds in “Education” and “Skill” development showing coherence with the global agendas. Public-owned firms tend to report more CSR related specifically “Environment’ and “Sustainability” in the strategic documents. However, private and foreign firms do not pay any significance to CSR related keywords in their V&M statements.

Findings suggest that despite of huge CSR investments, private and foreign-owned firms lack CSR focus and communication in their V&M statements, which may create disintegration in the CSR investment and strategic alignment of near-term and future goals. The paper suggests that private and foreign firms should also communicate their CSR practices through their V&M to stakeholders so that CSR practices may not remain mere 2% mandated expenditure by the Government of India.

The study contributes in confirming the success of the CSR policy mandate in supplementing government’s social development programmes along with indications on the role of family firms in accelerating the process of community development as compared to foreign firms. The study also favours integration of CSR disclosures in the V&M statements to gain long-term benefit out of these investments.

The purpose of this paper is to investigate the most recurrent variables characterizing the collaborative relationships of industrial symbiosis (IS) (hereinafter also referred to as “anatomic” variables) established in the attempt to adopt circular economy (CE) by collecting evidence from a rich empirical set of implementation cases in Italy.

The current literature on IS was reviewed, and a content analysis was performed to identify and define the “anatomic” variables affecting its adoption in the circular economy. We followed a multiple-case study methodology investigating 50 cases of IS in Italy and performed a content analysis of the “anatomic” variables characterizing each case.

This research proposes the “anatomic” variables (i.e. industrial sectors involved, public actors involvement, governmental support, facilitator involvement and geographical proximity) explaining the cases of IS in the circular economy. Each “anatomic” variable is discussed at length based on the empirical evidence collected, with a particular reference to the impact on the different development strategies (i.e. “bottom-up” and “top-down”) in the cases observed.

Current literature on IS focuses on a sub-set of variables characterizing collaboration in IS. This research builds on extant literature to define a new framework of five purposeful “anatomic” variables defining IS in the circular economy. Moreover, we also collect and discuss a broad variety of empirical evidence in what is a still under-investigated context (i.e. Italy).

The purpose of this case study is to highlight the role of feedforward as a potential tool for managers in encouraging coworkers and subordinates to excel at their workplace performance.

Insights were captured through real-time observations made during three feedforward sessions conducted at regular intervals during the course of a six-month training intervention. Semi-structured interviews were also conducted with participants to gather individual perspectives.

The findings of the study showed positive results in feedforward as a mechanism to strengthen employee performance at the workplace. Participants also reported deeper involvement in the feedforward process as compared to the conventional feedback method.

The study has wider practical implications in the corporate world, as it provides managers with a practical tool to mentor subordinates and coworkers toward on-the-job performance. Feedforward is easy to apply and forward-looking in its approach.

Feedforward has applications in corporate environments as well as families, associations, and academic institutions. It offers immense value by fostering a climate of social support and mutual co-operation.

The feedforward exercise mentioned in the study is relevant on account of its applicability in various organizations across industries. It provides managers with an opportunity to receive and share insightful suggestions with coworkers in an open and transparent environment.

The purpose of this case study is to highlight the efficacy of Augmented Reality (AR) as an effective tool to facilitate training transfer of behavioral skills and knowledge imparted during the training program, back on the job.

Insights were gathered through qualitative assessments in the form of post-training depth interviews with participants, with the objective of investigating the success of AR as an effective training transfer tool.

The findings of the study revealed encouraging results related to the application of AR towards training transfer at the workplace. The learners revealed positive impact of AR on training transfer and found the experience to be highly enriching.

The study offers insights in the domain of technology enabled tools such as AR to drive transfer of training through an immersive and engaging learning environment.

AR as a training transfer tool can bridge the gap between training delivery and training implementation in behavioral trainings for several key industries, thus eliminating geographic and language barriers for learners.

The study is first of its kind and promises further inquiry in the domain of organizational learning and development. Insights revealed in this case are gathered through personal experience and offer a new perspective towards training transfer at the workplace.

The learning outcomes are as follows: to be able to evaluate early warning signs/red flags through financial statement analysis; to be able to analyse company’s credit or debt servicing using a thorough process of fundamental analysis; to be able to analyse and decode the financial health of an organization through different financial tools applicable according to the industry such as default probability and financial ratios; and to be able to synthesize credit rating framework and role of credit rating agencies in the bond market.

In late January 2019, the allegation by an online investigative portal about the misuse of the Dewan Housing Finance Corporation Ltd. (DHFL) money by its promoter for buying asset abroad was the start of the fall of the non-banking finance company giant. This was followed by a series of downgrade by credit rating agencies on its debt and eventual default on its interest payment on 4 June 2019 which upset multiple portfolio investors and the regulators. Investors became sceptical about the regulator’s policy and inefficiencies of credit rating agencies in predicting the default along with asset management houses which were expected to guard investors’ interest. One investor, Shikhar Pachori, decided to scrutinize all hidden information on DHFL to investigate if DHFL crisis arises because of unknown factors which was not in control of management or if it a clear negligence on the part of all involved parties. The case tries to emphasize the aspect of Asset-Liability Management and process of credit analysis while looking for red flags which aids in identifying any stress in company’s financial or any potential default by company.

This case can be used in the advance level of post-graduate finance course or MBA program for elective/specialization courses such as Financial Statement Analysis, Financial Institutions and Market and Fixed Income.

Teaching notes are available for educators only.

CSS 1: Accounting and Finance