ADHYAYAN: A JOURNAL OF MANAGEMENT SCIENCES

Succession Planning and Executive Compensation Strategies: Case Study on Multi-business Corporate Firms in India

Abhishek K. Pandey — 2024-02-01

In the age of Post COVID Resilience and Digitization, strategic issues in leadership research have gained prominence. Succession planning is one of such topics of strategic Human Resource Management (SHRM) which is considered by corporate boards as a major concern as it provides a way for business continuity. It is quite an important aspect for most of the start-up enterprises of modern times as they have to ensure its business continuity through the availability of strong leadership bench strength. Having a good successor on key management positions will ensure a family legacy for upcoming generations.
Past literature offers insight that corporate firms including family and standalone groups have observed many challenges in terms of loss of leadership on key management positions due to the lack of a proper succession plan in place. In this study, it has attempted to explore various insights related to succession planning and its linkages to executive compensation in corporate firms having diversified business portfolios. Findings provide a fresh perspective on succession planning and executive compensation which is equally important for practitioners and new-age start-ups.

The Literature Review of Blockchain and Its Applications

Gopal Mishra — 2024-02-01

Blockchain has been viewed as a breakthrough and an innovative technology due to its privacy, security, immutability, and data integrity characteristics. This technology enables cryptographically secure and anonymous financial transactions among the user nodes of the network enabling the transactions to be validated and approved by all the users in a transparent environment. It is a revolutionary technology that earned its emerging popularity through the usage of digital cryptocurrencies. Even though blockchain holds a promising scope of development in the online transaction system, it is prone to several security and vulnerability issues. In this paper, blockchain methodology, literature review, its applications, and security issues are discussed which might shed some light on blockchain enthusiasts and researchers.

Leveraging Behavioral Economics to Decision Architecture

Santosh Kumari — 2024-02-01

Modern economic theory has been dominated by neoclassical economics since the 1970s. Like any theory, neoclassical economics also has a series of assumptions underpinning it. These assumptions have been criticized and challenged on various grounds in the past several decades. The most serious assumption is the assumption of rational economic agents who aim to maximize their utility by analyzing the costs and benefits of every decision. The presence of “homo economicus” is very rare in our society. In fact, it is practically and psychologically impossible to be rational even most of the times. Empirical and experimental research heavily corroborates this fact. Despite such massive evidence, nearly all economic models and public policies use this distorting assumption in analysis and research. The result has been catastrophic, as can be seen in the Global Financial Crisis of 2008, the Dot-Com bust and numerous financial market crashes before that. Furthermore, the theory of rationality also reduces the effectiveness of government policies in achieving their objectives. Behavioral economics has emerged to address these fallacies of modern neoclassical economics and complement it to improve economic theory, methodologies and forecasting. Behavioral economics has mainly two branches
macro theory which aims to design macro-economic models incorporating behavioral concepts and micro theory which explains the various biases that individuals, groups and institutions exhibit in economic and even social decision-making. This research is focused on micro-behavioral economic theory. While a colossal magnitude of research has been done in identifying, testing and explaining the plethora of behavioral biases, there is a dearth of research on systematically reducing these biases. This research aims to fill this gap by conducting research on private and public sector employees of 30 to 40 years age and testing for a significant difference in level of biases revealed between the two groups of employees. The research found that there is a significant level of difference in the rational decision-making behavior of the two groups of employees. It also discusses the applications of the findings and the further scope for research.

Globalization’s Cultural Odyssey: Navigating Multicultural Waters in Business

Mukta Goyal — 2024-02-01

Globalization has ushered in a transformative era in business, eradicating borders and fostering cross-border commerce. This phenomenon has led to an influx of multinational corporations (MNCs) venturing into developing nations. Consequently, MNCs are now prevalent in various countries, with diverse cultural landscapes. The essence of managing across cultures has emerged as a direct outcome of globalization, necessitating that expatriates, hailing from foreign cultures, adapt to and lead individuals from disparate cultural backgrounds in unfamiliar settings. This challenge has yielded a mixed track record, with both successes and failures. Managing across cultures demands the intricate balance of assimilating into, and yet retaining, one’s own culture while comprehending and respecting the cultures, customs, management practices, and preferences of others. It is a dynamic process of adjusting to a multitude of sometimes conflicting cultures while preserving one’s own cultural identity

The Effect of Celebrity Endorsement on Consumer Buying Behaviour: A Comparative Study between Female & Male consumers

Sonam Sharma — 2024-02-01

In India, the practice of celebrity endorsement is experiencing a tremendous surge, similar to that observed in other industrialised and developing nations. This article aims to analyse the impact of celebrity endorsement on the purchase intention of male and female customers in the mobile phone industry. An empirical study was conducted to investigate the variables that influence customers’ intention to make a purchase. The study utilised a sample of 200 individuals, consisting of 100 males and 100 females. This research employed a questionnaire technique, with both male and female respondents being administered the same questionnaire. An analysis involving descriptive statistics and regression was conducted to obtain the findings. The study identified likeability, attractiveness, experience, and personality as the primary factors that significantly affect male buyers’ inclination to acquire mobile phones through celebrity endorsements. Female shoppers consider the likeability, beauty, and believability of the celebrity while buying a mobile phone. This study primarily examined the intention of consumers to purchase mobile phones and the impact of celebrity endorsement. It is recommended that a researcher should carry out a comparative study between males and females for another product category, using a substantial sample size. The study presents strategies for using celebrity endorsement to enhance male and female customers’ inclination to purchase mobile phones. To develop an advertising policy that targets male or female clients, marketing managers or policy makers might adhere to the following guidelines.

Rise in Consumerism and its Impact on Sustainable Development

Kailashpati . — 2024-02-01

Consumption is the function of disposable income. Consumption contributes a lot to the investment of any country. Consumption in a country depends on the marginal propensity to consume (MPC), Veblen effect, Snob effect, Bandwagon effect, Short sight of the consumer, etc. Keeping this in mind, producers produce those goods and services which can provide satisfaction to the consumers. Advertisement and marketing has become the lifeline of today’s market structure which psychologically attracts the consumer so much that the consumer purchases goods and services without wanting them. Due to this ecological and social problems start in the society. This is where consumerism begins. America’s great economist Professor Thorstein Veblen first spoke on the subject of consumerism which was based on conspicuous consumption. The problem of rising consumerism today is resulting in the reckless use of limited resources bestowed to us by mother
nature. Since resources are limited, the excessive use of resources will lead to the exhaustion of non-renewable resources very quickly. Even it will be difficult, if not impossible, to compensate for the loss of renewable resources so fast. Today our greed and irresponsible behavior is the basic reason for all environmental issues and problems be it global warming, deforestation, pollution, or the issue of sustainability. This paper will highlight in detail how rising consumerism has led to many environmental issues and how simple living and high thinking can be the answer to sustainability.

Collaborative Security in Wireless Networks and Vulnerabilities Assessment for Fintech E-payment Companies: A Bibliometric Analysis

Aanchal N. Verma — 2024-02-01

The purpose behind the technical analysis and science mapping in front of researchers to make them aware of the Internet of Things and mobile networking for providing collaborated security along with a visualized presentation to the financial and engineering researchers about the virtual vulnerability assessment issues. The objectives of this study are to analyze the available review of the literature and measure the most cited Journals through citation analysis and co-authorship analysis. The approach of BA (Bibliometric Analysis) has been executed in order to visualize literature reviews systematically. The researcher performed an in-depth study with reference to Collaborative Security and wireless networks (582), Collaborative Security and vulnerability assessment (253) and WiFi Security and Vulnerability Assessment (34) studies are available. The figures have been made through executing data over VOSviewer and tables are formed after compiling various affiliations. This technical study will help provide a literature base for more research to be executed in the arena of Information Systems (IS), Engineering, Computer Sciences, and Financial Technology. Also, it will provide a conceptual record for those practitioners and policymakers who are interested in performing exploratory research on wifi security assessment. It has been observed that more work can be done quantitatively for having certain measures regarding the virtual aspects of collaborative security amid its issues related to payment systems. Just mentioned the data are from Google Scholar and Dimensions.

Diagnosing the HR Practices within a B-School System in India

Alok Kumar — 2024-02-01

There was a phase in the early to mid-nineties of the ‘mushrooming’ of stand-alone B-Schools, that could be called as first generation B-schools owing to their incarnation as an institution deliberately manufactured to manufacture the input materials for the ‘about to be scaled up’ Corporate sector considering the Liberalization policy of the then existing Government. Three decades following this, another round of mushrooming is being witnessed again, but this time a more broad sensed University system aimed at offering a relatively bigger basket of more technical courses under the colossal propagation of the New Education policy of the Government. Universities are crossing the 1100 mark now in India, thereby, resulting in a rapid surge in demand of different kind of human resources to cope up with the speedy trajectory desired for positioning the Institution under the leader category! This article tries to find out whether approaches towards the fulfillment of HR acquisition objectives have a conducive directional flow or an erratic one, and also how the demandsupply is being managed! It tries to suggest effective ways in which requisite manpower for B-Schools can be had keeping in mind the emerging academic and industrial environment not only in India but across the Globe!

Digital Marketing A Way to Aatmanirbhar Bharat

Yusairah Ahmad — 2024-02-01

Organizations being aatmanirbhar will catalyse the country to economic growth. Digital marketing can be very useful as a tool for enterprises to achieve the goal of being self-reliant. We have discussed the emergence of the concept of aatmanirbhar Bharat and its future implications. The usefulness of digital marketing in achieving the goal of atmanirbhar Bharat. Digitalization can also simplify operations, make marketing campaigns more effective and open new revenue options. Any one or a combination of business websites, mobile applications, social network pages, search engines, emails and automation, digital partnerships, and more are all examples of digital marketing. These techniques are very useful. Then we discussed a case of how google and Facebook have captured the Indian online media. Most of the revenues go to these companies. We need to have our in-house platforms, applications and social media platforms so that we can keep the revenue earned from the Indian news with the Indian companies. There comes the requirement and need of developing an Aatmanirbhar Bharat. Some policy changes will also be required to promote our platforms and limit the use of foreign platforms to shift maximum traffic to our platforms and hence developing an atmanirbhar Bharat.