Prabhakar Kaushik, Dinesh Khanduja, Kapil Mittal and Pawan Jaglan
Six Sigma within small and medium‐sized enterprises (SMEs) is rapidly emerging as the new wave of change in Six Sigma. The purpose of this paper is to review the implications of…
Abstract
Purpose
Six Sigma within small and medium‐sized enterprises (SMEs) is rapidly emerging as the new wave of change in Six Sigma. The purpose of this paper is to review the implications of applying Six Sigma methodology over the SMEs, taking a specific case of a bicycle chain manufacturing unit. The study could be a paradigm initiative towards high quality products and services at low cost for every SME.
Design/methodology/approach
Based on the literature, this paper proposes a process flow chart to present a one‐shot picture of the Six Sigma application in a bicycle chain manufacturing unit which falls in an SME environment. The methodology adopted is DMAIC methodology of Six Sigma, which had been mostly successful so far in large‐scale industries. The methodology has been applied to reduce the bush rejection rate (bush is an important component of a cycle chain) by reducing defects inherent in the processes. The statistical techniques such as two sample t‐test and process capability analysis have been used to establish the process capability before and after the Six Sigma application.
Findings
This paper is an attempt to justify the highly useful role of quality management techniques like Six Sigma for SMEs which are normally presumed to be in the domain of large industries. In this paper, Six Sigma methodology has been applied to a small unit manufacturing bicycles chains with dwindling productivity levels. After applying Six Sigma it was found that the chain manufacturing firm can increase its profit by controlling high rejection rate of cycle chain bush. Application of Six Sigma project recommendation brought up the process sigma level to 5.46 from 1.40 by reduction in bush diameter variation in the process of bicycle chain bush manufacturing. This increase in sigma level is equivalent to monetary saving of Rs 0.288 million per annum, which is a noteworthy figure for an industry of such level. The success of this study paves the way to further extend the Six Sigma application to more such industries working in the SME environment.
Originality/value
This paper provides documented evidence of Six Sigma implementation in a bicycle chain manufacturing unit which has been taken as representative of a small and medium‐size industry. The study will yield a great value to academics, consultants, researchers and practitioners of Six Sigma.
Details
Keywords
Archana Goel, Rahul Dhiman, Sudhir Rana and Vimal Srivastava
This study aims to know whether board composition is effective in improving firm performance and particularly to determine whether this relationship varies across different levels…
Abstract
Purpose
This study aims to know whether board composition is effective in improving firm performance and particularly to determine whether this relationship varies across different levels of performance, that is, companies with very low performance, low performance, moderate performance, high performance and very high performance.
Design/methodology/approach
The authors use a data set covering 213 Indian companies registered on S&P Bombay Stock Exchange 500 Index over the period 2001 to 2019 by using Tobin's Q as a performance parameter. The study applies the quantile regression technique and compares the results with fixed effect generalized least squares (GLS) regression.
Findings
The findings reveal that board size positively affects the company's performance across all quantiles. Independent directors negatively impact the performance of companies across all quantiles. However, the strength of these relationships increases with increase in performance, thereby supporting agency theory and stewardship theory, respectively. The effect of executive directors on the performance of the companies varies across quantiles. The effect is adverse at moderate and high quantiles only.
Practical implications
The findings provide some grounds for regulators to exercise caution while designing board composition guidelines, keeping in mind the unique internal environment of each company which ultimately affects their performance levels. Similarly, Indian companies are also suggested to compose their boards keeping in mind their performance levels.
Originality/value
The study contributes towards the debate on the board composition and firm performance relationship by adding to the agency theory and stewardship theory that all the companies cannot have the similar board composition. Rather its composition depends upon the performance levels of the companies.
Details
Keywords
R.C. Mittal, Ram Jiwari and Kapil K. Sharma
The purpose of this paper is to propose a numerical method to solve time dependent Burgers' equation with appropriate initial and boundary conditions.
Abstract
Purpose
The purpose of this paper is to propose a numerical method to solve time dependent Burgers' equation with appropriate initial and boundary conditions.
Design/methodology/approach
The presence of the nonlinearity in the problem leads to severe difficulties in the solution approximation. In construction of the numerical scheme, quasilinearization is used to tackle the nonlinearity of the problem which is followed by semi discretization for spatial direction using differential quadrature method (DQM). Semi discretization of the problem leads to a system of first order initial value problems which are followed by fully discretization using RK4 scheme. The method is analyzed for stability and convergence.
Findings
The method is illustrated and compared with existing methods via numerical experiments and it is found that the proposed method gives better accuracy and is quite easy to implement.
Originality/value
The new scheme is developed by using some numerical schemes. The scheme is analyzed for stability and convergence. In support of predicted theory some test examples are solved using the presented method.
Details
Keywords
The purpose of this study is to analyse the existing research on the significance of corporate governance in micro, small and medium-sized enterprises (MSMEs) to identify…
Abstract
Purpose
The purpose of this study is to analyse the existing research on the significance of corporate governance in micro, small and medium-sized enterprises (MSMEs) to identify significant contributors, emerging trends and prospective future research areas.
Design/methodology/approach
The authors perform a bibliometric analysis using a data set of 343 papers extracted from the Scopus database. R-studio software was used for performance analysis, while VOSviewer software was used for scientific mapping.
Findings
The study’s findings demonstrate that the research has attracted the attention of academics, which has led to a major rise in research over the previous two decades. “Corporate Ownership and Control” is the top contributing journal with the publication of 16 articles. The USA and UK are the top most productive countries. Simon Fraser University of Canada is the most contributing institution. Moreover, this study has identified four major themes: corporate governance assistance to small and medium enterprises, the role of corporate governance in society and management, family ownership and its importance in entrepreneurship, corporate governance issues, family firms and firm performance. Furthermore, the paper also defines the future research scope in each theme.
Originality/value
This study serves as a guide by mapping and analysing the intellectual structure of the corporate governance of MSMEs’ publications. Through this research, the authors better understand the academicians, managers, entrepreneurs and regulators about the condition of entrepreneurship and how they help businesses improve their performance. To the best of the authors’ knowledge, this is the first study to thoroughly analyse the literature on the role of corporate governance in MSMEs using bibliometrics.
Details
Keywords
Geeta Rana and Vikas Arya
This study sought to determine the role of green human resource management (GHRM) in fostering employees' environmental performance (ENVP). This study aims to advance knowledge…
Abstract
Purpose
This study sought to determine the role of green human resource management (GHRM) in fostering employees' environmental performance (ENVP). This study aims to advance knowledge related to the role of firms’ GHRM activities in cultivating eco-responsible behaviors among employees, considering green innovation (GI) as a mediator.
Design/methodology/approach
For this study, data of 579 respondents were collected from employees working in the manufacturing industry in India. In all, 579 employees from the manufacturing sector in India participated in the study. The proposed model was tested using SMART PLS 3.3.
Findings
The findings of this study stated that GHRM was found significantly to predict ENVP in the Indian manufacturing industry, and GI exhibited partial mediation. This study emphasizes that GHRM activities carried out by firms encourage employees to engage in innovation to develop green products and find novel green operation processes to improve firms’ ENVP.
Research limitations/implications
As this study is limited to manufacturing organizations in India, the results of this study cannot be generalized; future studies may examine the proposed model in different contexts to generalize findings.
Originality/value
This study encourages policymakers to devise laws to enable organizations to implement GHRM practices. This study contributes to the existing literature on the environmental aspects of corporate social responsibility and environmental management. This study is one of the few attempts that seek to assess the relationship between GHRM, ENVP and GI in the Indian manufacturing industry. The contribution of this paper is significant to limit GHRM literature, as it empirically investigates the association between GHRM and ENVP.
Details
Keywords
The purpose of this study is to examine the impact of corporate governance (CG) on chief executive officer compensation (CEO COMP) and pay–performance relationship (PPR) in Indian…
Abstract
Purpose
The purpose of this study is to examine the impact of corporate governance (CG) on chief executive officer compensation (CEO COMP) and pay–performance relationship (PPR) in Indian listed firms.
Design/methodology/approach
A sample of 196 companies listed on the S&P BSE 500 (Standard and Poor's Bombay Stock Exchange 500) Index has been analyzed using the panel (random effects) regression technique over the period 2010–2019. In addition, the system GMM technique was used to deal with the endogeneity issue.
Findings
The study found that block ownership and ownership concentration negatively impact COMP measures and PPR. Board size also had a negative direct and moderating impact on CEO COMP; however, the linkages were generally insignificant, especially for total pay. Similarly, outsider blockholders were found to be playing an insignificant role. Further, board independence positively influences COMP levels and PPR, though the results were mixed with respect to significance. Finally, CEO duality positively and significantly influences CEO COMP and PPR. A comparison before and after the new Indian Companies Act 2013 also revealed similar results, particularly in the after period. It suggests that the new legislative initiative was not effective enough in improving the CG and, hence, the alignment of pay with performance.
Originality/value
This study investigates the direct and moderating impact of CG on CEO COMP in the context of emerging economy India. Further, it makes a comparison before and after the introduction of the new governance reform, that is, the Indian Companies Act, 2013. Moreover, providing support to the entrenchment effect, the study reveals that large shareholders expropriate minority shareholders’ wealth by not aligning CEO pay with performance, making agency problems graver in emerging economies like India.
Details
Keywords
Avinash D. Pathardikar, Praveen Kumar Mishra and Sangeeta Sahu
This paper aims to examine the effect of procedural justice on affective commitment, through the mediating of organizational trust and job satisfaction.
Abstract
Purpose
This paper aims to examine the effect of procedural justice on affective commitment, through the mediating of organizational trust and job satisfaction.
Design/methodology/approach
Data were collected from 305 executives working in eight large cement organizations through a standardized questionnaire. Confirmatory factor analysis, structural equation modelling and mediation analysis were performed to examine the relationship.
Findings
Procedural justice significantly influenced job satisfaction and organizational trust directly. Organizational trust and job satisfaction are partially mediated by organizational justice and affective commitment. Interestingly, procedural justice does not influence affective commitment directly.
Originality/value
Procedural justice and affective commitment are crucial aspects of an organization. Limited research has been conducted linking procedural justice, organizational trust, job satisfaction and affective commitment. This study was conducted in the South Asian country of India, where power-distance prevails
Details
Keywords
Pankaj Thakur, Kapil Kathuria and Nisha Kumari
The main fast moving consumer goods (FMCG) retail formats that customers engage with in India are Kirana stores, neighborhood convenience stores (NCS), supermarkets and online…
Abstract
Purpose
The main fast moving consumer goods (FMCG) retail formats that customers engage with in India are Kirana stores, neighborhood convenience stores (NCS), supermarkets and online retailers. However, there has been less research done on the variables or antecedents that could favorably affect consumers' engagement with these FMCG retail formats. To improve retail practices, this study looks at how female consumers perceive the performance of FMCG retail formats on different antecedents of consumer engagement. The status of consumer engagement with FMCG retail formats was also analyzed.
Design/methodology/approach
The present study used exploratory as well as descriptive research design. Previous studies were analyzed to identify the antecedents of consumer engagement. A structured questionnaire was used to collect the primary data from 400 female respondents of two major urban cities in north-western India. The descriptive analysis and one-way ANOVA test were performed to analyze the data.
Findings
Kirana stores’ performance on most of the antecedents was not satisfactory. Supermarkets and online retailers performed better on all antecedents. Customer marketing orientation and experiential marketing were the antecedents that required more attention from Kirana stores, NCS and supermarkets. Consumer engagement with online retailers was highest, whereas consumer engagement with Kirana stores was least.
Originality/value
This study offers a comprehensive examination of the antecedents of consumer engagement and consumer engagement with FMCG retail, which no prior research has studied in the context of FMCG retail businesses.