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This case provides insights about the importance of market research, market segmentation, distribution, product positioning, branding and advertising for a small but…
This case provides insights about the importance of market research, market segmentation, distribution, product positioning, branding and advertising for a small but growing enterprise. This case provides insights into nuances about organizing and running a family-owned small business –Bhuira Jams has to objectively decide on its way-forward which can be a pure social enterprise or a pure commercial enterprise. This case provides understanding regarding the differences between the two models in terms of funding, accounting, legal, marketing and operational aspects.
In January 2017, Linnet Mushran had just won an award from the PHD Chamber of Commerce for her work in generating local employment for rural women in the village Bhuira, Himachal Pradesh, India. This award did make her feel happy. However, more than happiness, it got her thinking as to how would Bhuira Jams – the child born out of her passion for mountains and out of the desire to do something good survive in the coming years? Bhuira Jams was never designed like a formal business. Being a family run socially relevant business, Bhuira Jams faces the challenge of operational efficiency, along with an uphill task in marketing and distribution. Almost 35 per cent of its sales comes from Fabindia, which re-sells the Bhuira products under the Fabindia label. Thus, currently there is very little focus and expenditure in Bhuira on marketing and distribution. Another challenge faced by Bhuira Jams is driven by the health and lifestyle changes occurring in the Indian society. Consumer preferences are shifting towards low fat diets, and there is growing Americanization of the Indian society. This can be a double whammy for Bhuira’s main product line of preserves, which are high on calorie and are traditionally British.
Complexity academic level
Bhuira Jams conceptually is close to a family owned business due to the involvement of husband, daughter-in-law and son-in-law of Linnet. Thus, this case provides insights into nuances about organizing and running a family owned small business.
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CSS 11: Strategy
Purpose – This study examines both the short- and long-term share price reaction to announcements of financial restatements cited in the U.S. General Accounting Office…
Purpose – This study examines both the short- and long-term share price reaction to announcements of financial restatements cited in the U.S. General Accounting Office (2006) database.
Methodology – It uses the augmented four-factor Fama-French model for assessing share price reaction.
Findings – The study finds that the average cumulative abnormal return (CAR) for a sample of 553 restatements (by 437 companies) is significantly negative (−1.58) for the three-day window surrounding the day of announcement. The average CAR for the one-year period prior to the announcement (−9.6%) and for each of the four years after the announcement is negative as well, with the average CAR for the four years adding up to −22%. The study also documents differences in CARs based on the entity prompting the restatement (company, auditor, and Securities and Exchange Commission), the reason behind the restatement (revenue, cost, reclassification of item, etc.), and for one-time versus repeat offenders.
Social implications – Taken together, the findings indicate that financial restatements impose significant short-term as well as long-term costs on shareholders.
Originality/Value – The evidence about long-term share price reaction to financial restatements is missing in prior research. The relationship between long-term and short-term share price reaction to financial restatements fails to suggest systematic over/underreaction by the market.
The purpose of this paper is to understand the culpability of independent directors (IDs) in a public listed company under clause 49 of the listing agreement of the…
The purpose of this paper is to understand the culpability of independent directors (IDs) in a public listed company under clause 49 of the listing agreement of the Securities Exchange Board of India, which, primarily, is the corporate governance mandate in India.
This paper has been developed on the basis of intensive interviews conducted with 16 legal experts working with 50 top listed companies and seven advocates from the Delhi High Court and the Supreme Court of India, literature survey from research papers, bare acts and policy guidelines on corporate governance by the Government of India.
Two contrary opinions are being rendered on the culpability of IDs. The first proposes a strict and absolute penalty on all directors which would deter them from colluding with promoters. The second proposes that IDs should not be tarred with the same brush unless conclusive evidence of collusion is produced. These contrary opinions are herein analyzed and recommendations put forward.
The research paper attempts to study only the culpability of IDs. It envisages the appointments of IDs onto boards without deliberation on the issue assuming that these appointments are made in good faith and trust.
The research paper attempts to study whether the IDs who are non‐executive directors and who do not have a pecuniary relationship with the company actually share a fiduciary relationship with the shareholders and observe the principle of conflict of interest. There are some compelling reasons for them to alienate liabilities given the dramatic effects of financial disarray as in the case of Satyam.
There is limited evidence on the determinants of hospitalisation and its causes in India. This study aims to examine the differential in the hospitalisation rates and its…
There is limited evidence on the determinants of hospitalisation and its causes in India. This study aims to examine the differential in the hospitalisation rates and its socioeconomic determinants. This study also examines the causes of diseases in hospitalisation among the elderly (≥60 years) in India.
This study used data from the 75th round of the National Sample Survey Organizations, collected from July 2017 to June 2018. The elderly samples in this survey are 42,759, where 11,070 were hospitalised, and 31,689 were not hospitalised in the past year or 365 days. This study estimated hospitalisation rates and carried out binary logistic regression analysis to examine the associations of hospitalisation with the background variables. The cause of diseases in hospitalisations was also calculated.
The hospitalisation rate was lower among elderly female compared to elderly male. Elderly who belongs to middle-old aged groups, non-married, North-Eastern region, Southern region, general caste, health insurance, partially and fully economically dependent have a higher chance of being hospitalised. About 38% elderly were hospitalised due to communicable diseases (CDs), 52% due to non-communicable diseases (NCDs) and 10% due to injuries and others (IO). Nearly 40% elderly were hospitalised in public hospitals due to CDs, whereas 52% were hospitalised in private hospitals due to NCDs and 11% due to IO.
Firstly, this study is based on cross-sectional survey due to which temporal ambiguity averted to draw causal inferences. Secondly, other significant factors can also predict hospitalisations and provide insightful results, such as lifestyle factors, behavioral factors, obesity, mental state and several personal habits such as smoking cigarettes, drinking alcohol, consuming tobacco or other harmful substances. But this information was not available in this study. Even with these limitations, the hospitalisation issues among the elderly are beneficial to understand the current circumstances of CDs, NCDs and injury and other diseases for India and its states to formulate health policy.
Early screening and early treatment for NCDs are needed, which are non-existent in almost all parts of India. It is essential to necessitate and identify the important factors that best predict hospitalisation or re-visit of hospital admission. Although, the medical advances in India have made rapid strides in the past few decades, it is burdened none the less, as the doctor–patient ratio is very low. It is important to develop preventive measures to minimize the accidents and causalities to avoid substantial cost associated with elderly health care.
Raising awareness, promotion of healthy life style and improving the quality of good health-care provisions at primary level is a necessity.
The findings, practical and social implications provide a way forward for the health policymakers to potentially alter the future research to reduce associated comorbidities, unnecessary hospitalisations and other medical complications.