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This paper aims to propose and assess a framework to analyse the institutionalization of Industry 4.0 (I4.0) through a framing analysis.

The framework was developed by combining the institutional approach with orders of worth, drawing insights from a comprehensive literature review. To assess it, the authors conducted a qualitative analysis of annual reports from companies with the largest market capitalization over a six-year period and interviewed union representatives in Spain and Sweden.

The framework comprises five dimensions (industrial, market, civic, green and connectionist). The empirical results reveal that companies consistently frame I4.0 with an emphasis on industrial and market perspectives. In contrast, unions place a stronger emphasis on civic issues, with Spanish unions holding a more negative view of I4.0, expressing concerns about working conditions and unemployment.

The proposed framework brings interesting insights into the dispute over the meaning of I4.0. Although this empirical study was limited to companies and unions in Sweden and Spain, the framework can be expanded for broader investigations, involving additional stakeholders in one or more countries. The discussion outlined using the varieties of capitalism approach is relevant for understanding the connection between the meso and macro levels of this phenomenon.

In navigating the landscape of I4.0, managers should remain flexible, and ready to tailor their strategies and operations to align with the distinct demands and expectations of stakeholders and their specific institutional environments. Similarly, policymakers are urged to acknowledge these contextual intricacies when crafting strategies for implementing I4.0 initiatives across national settings.

Based on the empirical findings, this study underscores the importance of fostering social dialogue and involving stakeholders in the implementation of I4.0. Policymakers and other stakeholders should take proactive measures, tailored to each country’s context, to mitigate potential adverse effects on labour and workers.

The study presents a novel framework that facilitates the systematic comparison of I4.0 framing by different actors. This contribution is significant because the way actors frame I4.0 affects its interpretation and implementation. Additionally, the aggregate analysis of results enables cross-country comparisons, enhancing our understanding of regional disparities.

This paper examines the ways in which Chinese university middle managers evaluate subordinate performance in response to the Chinese Double First-Class University Plan, a national project that ranks the performance of universities. In exploring compromise arrangements, the hybridised valuing activity of middle managers is found to be shaped by emergent and extant macro-foundations.

The qualitative data from 49 semi-structured interviews at five Chinese public universities were conducted. Drawing on macro-foundational studies and the sociology of worth (SW) theory, the analysis helps to identify socially shared patterns of actions and outcomes.

The findings elucidate the interplay between diverse economic, social, political and institutional values and the compromise-making by middle managers. The authors find that contextual factors restrict Chinese academic middle managers' autonomy, preventing workable compromise. Through the selective adoption of international and local management practices, compromise has evolved into a private differential treaty at the operational level.

A nuanced explanation reveals how the macro-foundations of Chinese society influence middle managers who engage with accounting when facilitating compromise. This study helps outsiders better understand the complex convergence and divergence of performance evaluative practices in Chinese universities against the backdrop of global market-based forces and the moral dimensions of organisational life. The findings have wider implications for the Chinese government in navigating institutional steps and developing supportive policies to enable middle managers to advance productive but also sustainable compromise.

Crowdfunding (CF) is a digital-financial innovation that, bypassing credit crisis, bank system rigidities and constraints of the capital market, is allowing new ventures and established companies to get the needed funds to support innovations. After one decade of research, mainly focused on relations between variables and outcomes of the CF campaign, the literature shows methodological lacks about the study of its overall behavior. These reflect into a weak theoretical understanding and inconsistent managerial guidance, leading to a 27% success ratio of campaigns. To bridge this gap, this paper embraces a “complex system” perspective of the CF campaign, able to explore the system's behavior of a campaign over time, in light of its causal loop structure.

By adopting and following the document model building (DMB) methodology, a set of 26 variables and mutual causal relations modeled the system “Crowdfunding campaign” and a data set based on them and crafted to model the “Crowdfunding campaign” with a causal loop diagram. Finally, system archetypes have been used to link the causal loop structure with qualitative trends of CF's behavior (i.e. the raised capital over time).

The research brought to 26 variables making the system a “Crowdfunding campaign.” The variables influence each other, thus showing a set of feedback loops, whose structure determines the behavior of the CF campaign. The causal loop structure is traced back to three system archetypes, presiding the behavior in three stages of the campaign.

The value of this paper is both methodological and theoretical. First, the DMB methodology has been expanded and reinforced concerning previous applications; second, we carried out a causation analysis, unlike the common correlation analysis; further, we created a theoretical model of a “Crowdfunding Campaign” unlike the common empirical models built on CF platform's data.

To explore value vs worth in the context of compulsory acquisition.

Analysis of statutory environment within the context of valuation theory.

Value and worth could be reconciled by redefining special value in Act.

Public policy amendment.

Public policy amendment.

Facilitate just compensation.

Topical issue in New South Wales, where massive compulsory acquisition programme underway to facilitate infrastructure development.

The objective of this chapter is to identify the key characteristics of Global Services businesses that will thrive and achieve success in the future. These factors are integrated into three main pillars, which we refer to as the Triple-Win. The first and most obvious pillar is technology as a tool. The second pillar is the design and sustainability of the business model, without which the previous factor would be merely a cost and not an investment. And last but not the least, there is the purpose which gives meaning to the proposal, focusing on the human being and their environment. The DIDPAGA business model sits at the intersection of these three elements.

Remand prisoners (RPs) are known to be in a more vulnerable situation than those already convicted. Beyond the difficulties to adapt to the prison, RP also tend to experience tough circumstances due to the uncertainty of their future. This study aims to further test the psychometric properties of the Suicide Concerns for Offenders in the Prison Environment (SCOPE-2) in a sample of RP.

The authors have carried out a confirmatory factor analysis to test the psychometric qualities of the SCOPE-2. The authors tested the originally proposed two-factor structure composed of two subscales: optimism and protective self-worth. Also, the authors examined internal consistency through Cronbach’s alphas. Convergent validity was tested by correlational analyses between SCOPE-2 subscales and the Suicide Behaviors Questionnaire-Revised and Brief Symptom Inventory (BSI) total scores. Finally, the authors have tested known-groups validity by carrying out discriminant analysis by testing the SCOPE-2 subscales’ ability to predict belonging to a group with previous suicide attempts.

The confirmatory factor analysis showed an acceptable model fit, even though the subscale “Protective self-worth” presented a less acceptable fit. The correlation analysis supported the convergent validity of the SCOPE-2. Both the “Optimism” and “Protective self-worth” subscales showed a positive correlation with the total scores of BSI. Finally, the Portuguese version of SCOPE-2 also showed known groups validity. Concretely, the “Optimism” scores revealed an acceptable predictive accuracy.

This study embraces important contributions to the practice as it was the first study to validate a measure to assess vulnerability for suicide and self-harm in male and female RP.

To the best of the authors’ knowledge, this was the first study to validate an instrument to assess vulnerability for suicide and self-harm in both male and female pretrial detainees. Knowing their particular case, as well as the lack of responses for these individuals, it is particularly important to access suicide concerns that could precede suicide attempts.

Social entrepreneurship has the potential to address societal challenges, and high-education students are expected to be future social leaders. However, engagement in social entrepreneurship remains low in many countries. This study aims to investigate the mediating role of motivational mechanisms (i.e. self-efficacy, social support and social worth) in the relationship between prosocial personality and social entrepreneurial intentions (SEIs).

Based on the theory of planned behaviour, the authors conducted a survey of 292 valid respondents from 35 major public and private universities. The collected data were analysed using the structural equation modelling technique. The reliability of the measurements and the model’s predictive capabilities are substantial and assured.

The findings suggest that prosocial personality alone does not directly predict social entrepreneurial behaviour. However, motivational forces are dominant mediators in the relationship between prosocial personality and SEIs. Specifically, self-efficacy, social support and social worth significantly mediate this relationship.

The findings of this study provide insights into why prior studies on this topic has produced contradictory results.

The authors recommend that universities and policymakers provide adequate cognitive learning experiences, capacity-building programmes, funding support and recognition to enhance graduates’ inner strength and foster SEIs.

The empirical results resolve the contradictions found in many prior studies and highlight the importance of supportive mechanisms when promoting SEI in emerging regions.

Aging is a complex and multifactorial process. This study aims to is focus on mattering in older people. Mattering is the feeling of being important to others in ways that give individuals the sense that they are valued and other people care about them. However, for many, aging brings about the loss of self-esteem, and they feel useless, deprived and unwanted. The authors have adopted the partial least square structural equation modeling technique and Self-Esteem Scale of Rosenberg for evaluating the level of self-esteem in senior citizens of Pakistan. The results reveal a strong association between the predictor and the criterion variables, supporting the view that the communal integration construct is the strongest determinant in old age. Based on the results, the authors can argue that socioeconomic status, social relationships and daily activities and have a direct association with the elderly people’s self-esteem.

The Self-Esteem Questionnaire by Rosenberg (Rosenberg, 1965) and the Quality of Life Questionnaire by Bowling (Bowling, Banister, Sutton Evans and Windsor (2002) are two tested tools that were used to collect the sample data from various neighborhoods of Peshawar. The sample consisted of respondents who were 60 years of age or older. The current study only included men who were 60 years of age or older because men make up a higher number of retirees in the district (84%) than do women. A total of 312 male volunteers, representing a various cadre of job, were recruited at random. The research population’s data were gathered through convenience sampling. Only volunteers who appeared to be healthy in both body and mind were chosen as participants. When older people were unable to complete questionnaires, researchers helped them read the questions and then helped them write down their answers. Out of the 500 survey forms that were sent, 312 were properly completed and used for the analysis.

The results of this study suggest that the happiness and well-being of retired seniors are not only influenced by their general activities, health and socioeconomic status but also more strongly by their psycho-social integration, such as their close and intimate relationships with friends, family and relatives. The findings, therefore, urge the incorporation of social integration aspects in mental health treatment programs and public health policies to support the psycho-social well-being of the elderly. Social relationship variables might become a common aspect of practice through medical, psychiatric and psychological screening and examination.

Due to the fact that research participants were selected from just one city – Peshawar – the results cannot be generalized. As a result, findings are less likely to apply to older persons who reside in other provinces due to sample selection. Future research will be conducted all around the nation, though, and it could produce more precise and broadly applicable findings. Only male respondents applied to the second limitation. Only male participants were sought due to socioeconomic differences, social and cultural obstacles and the small number of female retirees. Therefore, it limits the spectrum of the study.

An individual’s self-esteem is made up of intrapersonal and interpersonal elements. Regarding policy intervention, the present effort will be a crucial step in helping the elderly understand the value of maintaining social networks and will encourage them to maintain close relationships with family and friends to safeguard their well-being in later life. On the other side, this research will help academics, politicians and thinkers better comprehend aging, perspectives of conduct and psychological and emotional viewpoints. One of the most important aspects of life that affects how old people feel about themselves is the support from social networks. Therefore, through raising awareness and fostering a favorable environment for the welfare and self-worth of senior individuals, politicians and society are expected to care for enriching the lives of the elderly. By highlighting the importance of communal support from a multidimensional aspect of a person, this study offers a wider perspective on self-esteem. With this in mind, the authors advise academics to adopt a fresh perspective on interpersonal mechanisms that ultimately aim to improve self-esteem and social support. Social support is a key factor in fostering or inhibiting self-esteem in the elderly and is a strong predictor of mental health. A society must take action to boost older people’s communal integration to improve their quality of life.

This study makes the case for a broader perspective on self-respect or esteem by suggesting that self-esteem may be seen in a broader context rather than in terms of limited characteristics. The authors offer an integrated model of self-esteem that conceptualizes it as an interpersonal phenomenon influenced by multiple vital aspects using various metrics of old age. Self-esteem was envisioned as the result of a number of factors, including social position, activities and interpersonal interaction “relationships with relatives, family, and friends.” The authors’ conceptual framework’s goal is to comprehend the different ways that senior citizens’ lives affect their sense of self-worth.

This study aims to examine the determinants of motivation that influences Malaysian and Indonesian millennials to contribute cash waqf.

The present study used self-determination theory and 423 respondents, of which 205 respondents are from Malaysia and 218 from Indonesia. The study developed a self-administrative questionnaire, and it is distributed through an online survey method, and the data are analysed using SmartPLS partial least squares analysis.

The results show that perceived donor effectiveness and moral obligation factors influence both Malaysians and Indonesian millennials to make cash waqf contributions. Meanwhile, the face concern factor did not significantly affect millennials in Malaysia and Indonesia to contribute cash waqf. Furthermore, the sense of self-worth factor appears to significantly influence only Indonesian millennials but not Malaysian millennials.

The research findings have significant theoretical and practical ramifications. Firstly, while face concern has a positive effect on millennials’ willingness to contribute cash to waqf, it is not statistically significant in Muslim populations. This implies that to persuade millennials to make cash waqf contributions, the face concern argument should be avoided.

The comparative study between Malaysia and Indonesia adds new value to this study. These two Muslim majority countries have similar attributes in terms of religion, demography and race background. Furthermore, the focus of this study, which targets units of analysis from millennials, has received very little attention in the literature related to cash waqf.

After studying and analysing this case, students would be able to evaluate and understand the importance and need of an infrastructure sector in a country, its inherent risks and scope of infrastructure investment and financing in India – National Infrastructure Pipeline and the important role of Non-Banking Finance Company’s (NBFC) vis-à-vis banks in infrastructure financing in India; critically analyse and recommend alternative decisions in a business problem situation using multi-criteria decision analysis, which is a tool used for business portfolio analysis; understand and evaluate the corporate portfolio management (CPM) tools used for an optimum portfolio mix to turn around companies; identify and suggest an optimum portfolio mix to turn around a finance company using CPM assessment applied to Pidun matrix; and recommend operational and strategic levers for successful turnaround implementation by using the integrated canvas on turnaround.

On 10 May 2020, in New Delhi, India, J. Ray took charge as a full-time director of an Indian Non-Banking Finance Company – Infrastructure Finance Company (NBFC-IFC). The NBFC-IFC of the Indian Government extended long-term financial assistance to infrastructure projects in India. During the financial year (FY) 2017–2018 till FY 2019–2020, the company suffered substantial losses to the tune of US$13.7bn, with profitability experiencing a notable decline – return on assets at a negligible 0.11% and return on equity of only 0.68%.

The NBFC-IFC had a declining yield on advances at 7.05%, net interest margins (NIMs) of 2.08% against a high cost of borrowing at 7.66%, a declining loan book (by 4.35%) of US$336.27bn and a fast-deteriorating asset quality with highest ever non-performing assets (NPAs) at 19.70% of its loan book. Such financial parameters, compared with that of the industry average of banks and finance companies, meant that the NBFC-IFC Ray had taken over was fast bleeding and was on the brink of being declared a sick company. In comparison, private and other government players had profitable and much healthier financials, and Ray felt that there was a need for improvement. To make things worse, Ray got to know that the Indian Government was in the final stages of setting up a new development finance institution focused on long-term infrastructure financing in India. Ray realized the question was not only of the NBFC-IFC remaining relevant but also of its existence in the fast-evolving sector. Ray wondered what could his his integrated canvas be for a turnaround strategy that could include effective management of an optimal portfolio mix.

With a healthy capital-to-risk (weighted) assets ratio of 30.85% and a satisfactorily improved net worth of US$103.1bn, in the given Reserve Bank of India regulatory provisions for the NBFC-IFC including restrictive exposure norms and NBFC-IFC’s operational mandate prescribed by the Indian Government, Ray had to shift the product and sectorial investment of the NBFC-IFC to reduce the NPAs, increase loan book size and improve the yield of advances and its NIM to effectively turn around the company’s profitability. Ray realized that he needed his team to evaluate and select a product and sector strategy for this change.

The present case of financing investment in infrastructure is interesting for implementation in developing economies because a lack of infrastructure is a common problem and there is a necessity of achieving a more developed infrastructure system to support accelerated economic growth in these countries. This case can be used in elective courses on corporate finance strategy and corporate portfolio management for infrastructure finance companies. This case can be taught in elective courses in post-graduate and MBA programs. This case can also be included in management development programs (MDP), executive MBA programs and executive-level courses that have subjects such as corporate finance strategy, corporate portfolio management and strategy management that focus on turnaround strategies including portfolio management for banks and finance companies.

Teaching notes are available for educators only.

CSS 11: Strategy.