Search results

Medication management is a complex process, at high risk of error with life threatening consequences. The focus should be on devising strategies to avoid errors and make the process self-reliable by ensuring prevention of errors and/or error detection at subsequent stages. The purpose of this paper is to use failure mode effect analysis (FMEA), a systematic proactive tool, to identify the likelihood and the causes for the process to fail at various steps and prioritise them to devise risk reduction strategies to improve patient safety.

The study was designed as an observational analytical study of medication management process in the inpatient area of a multi-speciality hospital in Gurgaon, Haryana, India. A team was made to study the complex process of medication management in the hospital. FMEA tool was used. Corrective actions were developed based on the prioritised failure modes which were implemented and monitored.

The percentage distribution of medication errors as per the observation made by the team was found to be maximum of transcription errors (37 per cent) followed by administration errors (29 per cent) indicating the need to identify the causes and effects of their occurrence. In all, 11 failure modes were identified out of which major five were prioritised based on the risk priority number (RPN). The process was repeated after corrective actions were taken which resulted in about 40 per cent (average) and around 60 per cent reduction in the RPN of prioritised failure modes.

FMEA is a time consuming process and requires a multidisciplinary team which has good understanding of the process being analysed. FMEA only helps in identifying the possibilities of a process to fail, it does not eliminate them, additional efforts are required to develop action plans and implement them. Frank discussion and agreement among the team members is required not only for successfully conducing FMEA but also for implementing the corrective actions.

FMEA is an effective proactive risk-assessment tool and is a continuous process which can be continued in phases. The corrective actions taken resulted in reduction in RPN, subjected to further evaluation and usage by others depending on the facility type.

The application of the tool helped the hospital in identifying failures in medication management process, thereby prioritising and correcting them leading to improvement.

This case is meant for MBA/MS/executive MBA students.

Entrepreneurship development, leadership.

This case is about the successful entrepreneurial journey of Kiran Mazumdar-Shaw, founder of India-based biotechnology company Biocon Limited. Mazumdar-Shaw established Biocon in 1978 as a joint venture company. As a woman entrepreneur, Mazumdar-Shaw faced many challenges and setbacks during her initial days. She overcame these and took Biocon to new heights. Later, Mazumdar-Shaw decided to make a strategic shift in Biocon’s business model – going from manufacturing enzymes to biopharmaceuticals with the vision of making an impact on global health care by providing access to affordable, life-saving drugs.

The learning outcomes are as follows: understand the ecosystem of women entrepreneurs in developing countries; examine the challenges faced by women entrepreneurs in their entrepreneurial journey and how successful entrepreneurs convert challenges into opportunities; and analyze what entrepreneurial leadership is and understand how these leadership qualities play an important role in the success of entrepreneurial ventures.

Mazumdar-Shaw was able to break through the gender barrier that was highly prevalent in Indian society then and successfully established her entrepreneurial venture in biotechnology, a discipline that was still nascent in the1970s. Though she has scaled great heights in the biotechnology area and developed her business, she has remained sensitive to the problems of those who are unable to get affordable medicines. Firmly believing that she should share the prosperity of the company with the poor and the marginalized, Mazumdar-Shaw, through her philanthropic venture, Biocon Foundation, started providing essential drugs at affordable prices to them.

CCS 3: Entrepreneurship.

Due to stern management policies and increased community attentiveness, sustainable supply chain management (SSCM) performs a vast component in endeavor operation and production management. Sustainable circular supplier selection (SCSS) and evaluation presented the environmental and social concerns in the fields of circular economy and sustainable supplier selection. Choosing the optimal SCSS is vital for organizations to persuade SSCM, as specified in various researches. Based on the subjectivity of human behavior, the selection of ideal SCSS often involves uncertain information, and the Pythagorean fuzzy sets (PFSs) have a huge capability to tackle strong vagueness, uncertainty and inaccuracy in the multi-criteria decision-making (MCDM) procedure. Here, a framework is developed to assess and establish suitable suppliers in the SSCM and the circular economy.

This paper introduced an extended framework using the evaluation based on distance from average solution (EDAS) with PFSs and implemented it to solve the SCSS in the manufacturing sector. Firstly, the PFSs to handle the uncertain information of decision experts (DEs) is employed. Secondly, a novel divergence measure and parametric score function for calculating the criteria weights are proposed. Thirdly, an extended decision-making approach, known as PF-EDAS, is introduced.

The outcomes and comparative discussion show that the developed method is efficient and capable of facilitating the DEs to choose desirable SCSS. Therefore, the proposed framework can be used by organizations to assess and establish suitable suppliers in the SCSS process in the circular economy.

Selecting the optimal sustainable circular supplier (SCS) in the manufacturing sector is important for organizations to persuade SSCM, as specified in various research. However, corresponding to the subjectivity of human behavior, the selection of the best SCS often involves uncertain information, and the PFSs have a huge capability to tackle strong vagueness, uncertainty and inaccuracy in the MCDM procedure. Hence, manufacturing companies' administrators can implement the developed method to assess and establish suitable suppliers in the SCSS process in the circular economy.

Petroleum hydrocarbons are naturally occurring flammable fossil fuels used as conventional energy sources. It has carcinogenic, mutagenic properties and is considered a hazardous pollutant. Soil contaminated with petroleum hydrocarbons adversely affects the properties of soil. This paper aim to remove pollutants from the environment is an urgent need of the hour to maintain the proper functioning of soil ecosystems.

The ability of micro-organisms to degrade petroleum hydrocarbons makes it possible to use these microorganisms to clean the environment from petroleum pollution. For preparing this review, research papers and review articles related to petroleum hydrocarbons degradation by micro-organisms were collected from journals and various search engines.

Various physical and chemical methods are used for remediation of petroleum hydrocarbons contaminants. However, these methods have several disadvantages. This paper will discuss a novel understanding of petroleum hydrocarbons degradation and how micro-organisms help in petroleum-contaminated soil restoration. Bioremediation is recognized as the most environment-friendly technique for remediation. The research studies demonstrated that bacterial consortium have high biodegradation rate of petroleum hydrocarbons ranging from 83% to 89%.

Proper management of petroleum hydrocarbons pollutants from the environment is necessary because of their toxicity effects on human and environmental health.

This paper discussed novel mechanisms adopted by bacteria for biodegradation of petroleum hydrocarbons, aerobic and anaerobic biodegradation pathways, genes and enzymes involved in petroleum hydrocarbons biodegradation.

Drawing from the Moral Disengagement theory and the Social Exchange Theory, the present study posits to examine the influence of personality, that is Machiavellianism on organizational deviance in the service industry. Furthermore, the role of moral disengagement as a mediator accentuating the organizational deviance of service employees was examined. Also, the role of Servant Leadership as a moderator on the mediated relationship between Machiavellianism and Organizational Deviance via Moral Disengagement is investigated.

The data was collected from 269 employees working in hotels in northern India using the snowball technique. SPSS 22 and AMOS 22 were the statistical tools utilized to test the hypothesized relationships.

Machiavellianism was positively related to Organizational Deviance. Findings support the fact that Moral disengagement is a mediator in the relationship between Machiavellianism and Organizational Deviance. Service Leadership moderated the mediated relationship between Machiavellianism and Organizational deviance via Moral disengagement such that the relationship was found to be weaker when Service Leadership was high.

Due to its emphasis on interpersonal interaction and intangible services, the hotel industry differs from other sectors of the economy. Employees contact directly with clients and are responsible for meeting their demands. As a result of these frequent interactions, controlling employee deviation is essential in the services industry. The study holds significant and notable implications from the organizational or managerial perspective.

The present study distinctively contributes by bringing the effect of personality on deviant behaviors in the hotel industry which is unmapped, besides examining the role of moral disengagement as the mediator and servant leadership as a moderator mitigating organizational deviance and morally disengaged workforce.

The behavioural decision-making process of individuals highlights the importance of investors’ sentiment and their correlation with the real economy. This paper aims to contribute to the literature of behavioural finance by examining the influence of contextual factors on investment decision-making.

Using a questionnaire, a total of 445 valid responses were collected from March to May 2021 through online sources. The current study uses a technique of Fuzzy-analytical hierarchical process (AHP) to assign relative weights to various contextual factors influencing investment decision-making. Harman’s single factor test was used to check common method bias.

Results of the study reveal that accounting information, self-image/firm-image coincidence, and neutral information as the top-ranked factors in influencing investment decisions, whereas advocate recommendation and personal financial needs emerged as less important factors in influencing investment decisions.

The current study collects data from Indian stock market investors, which may limit the generalization of the study to India only. Moreover, this study is cross-sectional in nature, and there are numerous factors that are not part of the study but might significantly influence the investors’ decision-making process.

The research has implications for both academicians working in the area of behavioural finance and practitioners’ who are active in stock markets, more specifically dealing with retail investors and in the domain of personal finance. Also, the current study will accommodate different groups, i.e. policy makers, financial advisors, investors, investment professionals, etc. in carrying out their professional work.

The current study will provide a comprehensive overview of individual investor behaviour. To the best of the authors’ knowledge, the present study is one of its kind to use the Fuzzy-AHP technique for evaluating the relative ranks of contextual factors influencing investment decision-making.

Stock markets are considered as the largest and most important units for the development and growth of the economy. The present study attempts to provide a comprehensive view of factors influencing investment decision making process of stock market investors. A multi group analysis of gender is also carried out on the proposed model.

The data of 402 valid responses are collected through structured questionnaires from individual investors of North India. SPSS 23 is used to do the descriptive analysis and AMOS 22 is used to establish the validity of the constructs and for hypotheses testing. For performing multi group analysis, several invariance tests have also been conducted to check the robustness of the model.

The results reveal that all the factors such as firm image, accounting information, neutral information, advocate recommendation and personal financial needs significantly influence investment decision making concluding image of the firm being the most influential factor and advocate recommendation being the least influential factor for investment decisions. No significant differences between males and females were found.

The current study suffers from the limitation of restricted geographical area of North India. Moreover, there is also a scope to incorporate more demographic factors for predicting investment decisions.

This study incorporates a range of factors which covers all the aspects of investment decision making. This study also highlights the notion of signaling theory, thus contributing to the limited literature in Indian context.