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The purpose of this paper is to advance research that portrays chaos in number theory. Classical and quantum physics, and lately pure mathematics and system that exhibit deductive inference produced randomness and unpredictability over time.

This paper discusses the fact that in raising numbers to higher powers, it is noticed that the scale of intensities of order and tidiness is very poor and chaos occurs mainly when numbers are raised to even powers. When numbers are raised to odd powers, the chaos is obtained still, but was able to extract order from this chaos strangely enough.

Linear relationships if left to themselves long enough will eventually produce disorderly chaotic and inconsistent results. Chaos are being found where the order was thought to be found. But then, looking more closely, unexplained order is being found in what looked like chaos.

The results of this research may be applied to develop algorithms for random number generation and also for developing encryption algorithms for routers security and privacy.

The paper tackles one of the most unexplained phenomena where scientists are findings chaos where they thought they would find order.

This case looks at a recent shift in the way organizations look to leverage the benefits from India as a cost-effective destination to provide services. What started, around 15 years back, as an activity to outsource all non-core activities to Indian companies to take the advantage of cost-effective resources, has now given way to a new model where the focus is on two key aspects, namely, “insourcing of work” and “transfer of core activities to India”. This is because of the realization that outsourcing may be a short-term solution for non-core activities; however, to build a sustainable capability that is both cost-effective and value-oriented, insourcing is key. Also, it is not just non-core activities that can be supported remotely; many core activities that have been managed by on-shore teams are increasingly being shifted to India to leverage the depth of skills available in the country. First Telecom has undertaken pioneering work in this domain by moving some of the critical functions to India and has created Centers of Excellence (CoEs) providing niche services to rest of the world.

Target audience includes corporate executives, students of MBA/postgraduate program in management in strategic management and/or workshops for understanding the concept of insourcing, cost transformation, business environment analysis and growth strategies for future.

First Telecom has adopted what could be termed as “India 2.0” as the strategy to transform their operations worldwide to utilize the full potential of “India” as a service sector-outsourcing destination. The focus is not only on cost-avoidance but also on standardization of processes and mobilization of resources in a CoE setting to maximize the benefits. This case attempts to understand the way to go about it and the expected returns in a quantifiable manner.

To develop an understanding of business environment in the context of large multinational organizations that are constantly evolving to improve their operational excellence. Also, to develop an understanding of the outsourcing market and how companies are looking to move their core services to cost-effective locations to achieve the next phase of cost transformation after the outsourcing (non-core services) wave.

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CSS 1: Accounting and Finance

As of 2022, the scope of the engagement and interest of debt capital providers in ESG reporting is mainly untapped. However, a vast amount of literature has produced conflicting findings about the importance of debt capital (leverage) as a factor in sustainability reporting (SR). This is the first meta-analysis reconciling the mixed results of 85 single country studies containing 131 effect sizes across 24,482 firms conducted over past three decades (1999–2022) investigating the influence of leverage on SR. The study emphasizes the significance of contextualizing research by identifying the macro-environmental elements modifying debt's impact on SR, through the use of the institutional theory. Eleven country variables were tested on the collected dataset, spread across 36 countries.

Meta-analysis technique for aggregation of existing extant empirical work. Continuous and categorical variable-based moderator analysis to demystify the influence of country characteristics affecting the leverage–SR relationship.

Results show positive significant impact of debt capital providers on SR. Country's level of development, GDP, extent of capital constraints in a country, financial sector development within a nation, country governance factors and corruption levels, country's culture, number of sustainability reporting instruments operational in a country and geographical location proved to be significant moderators.

The study details relevant meaningful research gaps, worthy of uptake by researchers to produce targeted research.

Governments must increasingly go beyond their mandated disclosure role and acknowledge the important institutional factors that have contributed to the expansion of ESG reporting through the creation of nation-specific tools, incentive structures and disclosure-encouraging regulations. To secure a steady flow of funding and prevent negative effects on company value and cost of capital in the midst of prolonged global economic upheaval, businesses must address the information requirements of lenders. The limited total effect size emphasizes the necessity for debt providers to step up their ESG activism and exercise their maximum power and potential in stimulating extensive SR firm-level practices.

The present study is the first meta-analysis reconciling the mixed results of 85 single-country studies containing 131 effect sizes across 24,482 firms conducted over the past three decades (1999–2022) investigating the influence of leverage on SR and demystifying the macro-environmental factors affecting the leverage–SR association.

The case focuses on issues concerning infrastructure development by Jaypee Infratech Ltd. (JIL) in the context of emerging market of India. This is undertaken by employing the usage of strength weakness opportunity and threat analysis (SWOT) analysis, political, economical, sociological and technological analysis (PEST) analysis and Porter's Five Forces Model and competitor analysis. It also outlines the importance of financing model adopted with respect to Concessionaire Agreement drafted and executed towards making an infrastructure project financially viable so as to reduce the risk associated with infrastructure projects which requires huge investments and long gestation period. Further, it also highlights the importance of how future projects can be undertaken on the basis of public private partnership (PPP) model.

This case can be used as a teaching tool in the following courses: MBA/Post Graduate Program in Management in Management Accounting, Management Control Systems and Strategic Cost Management. It can be used to explain concepts of SWOT analysis and Porter's Five Forces Model analysis. Students are also introduced to the technique of financial analysis. Executive training programs for Middle- and Senior-level employees to explain the Infrastructure Financing and Concessionaire Agreement for infrastructure projects. Under-graduate/Post-graduate programs in Entrepreneurship.

JIL was established as a Special Purpose Vehicle in 2007 to execute the Yamuna Expressway project. Originally the contract was awarded to parent company Jai Prakash Associates Ltd. in 2003. The project entails financing, construction, operation, maintenance and collection of toll for 36 years and then transferring it back to Government of Uttar Pradesh of 165.5 km Yamuna Expressway, and subsequently development of 530-million square feet of area from five parcels of land earmarked along the expressway. The project highlights how a PPP infrastructure project can be made financially viable.

SWOT analysis was used to identify the strengths, weaknesses, opportunities and threats to a company. Also, application of Porter's Five Forces Model was done to analyze an industry. Determining quantitative terms like Long-Term Return on equity, Return on Capital Employed, Book Value vs Market value, Net Margins, Income Tax benefits enjoyed under section 80-IA and Minimum Alternative Tax (MAT); determining financial viability of an infrastructure project over its entire life cycle.

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The application of activity based costing (ABC); calculating the cost of a CNC Process using ABC; designing a pricing strategy.

The case can be used in the following courses: MBA program with specialisation in finance (to teach students the application of costing in services sector); MBA program in general management (to highlight the concept of activity based costing and its application); and under an elective course on management control systems in MBA programs (to highlight the strategy to determine price effectively).

The case highlights the application of activity based costing in arriving at cost and finally leading to development of price to be charged by KK Metals. The company wishes to compute the activity based cost of CNC process and develop the selling price for 194 precision turning services scientifically as opposed to the present strategy of being a price taker, largely on the basis of what essentially is prevalent in the local market within which KK Metals operates. The case gives an insight to numerous control variables that the management can consider while pricing its services.

The case can be used to understand management concepts such as ABC, pricing and the role of efficiency in business processes. It can be used to: teach complexities involved in identifying activity driver(s) in case of ABC as far as application to service sector is concerned; help understand the use of costing as an effective tool in pricing strategy of the company; and help students realize the significance of inputs used for calculating per hour cost.

Teaching notes are available. Consult your librarian for access.

The case provides valuable insights on challenges faced by otherwise-protected organisations which are made to face the global onslaught. What happens to an organisation when its own collaborators become competitors overnight? What happens when market leaders refuse to share their technology or dictate their own terms? In addition, this case study looks at the strategy of diversification desired in the business portfolio and the cost of non-diversifications. The case evaluates the environment in which a capital-intensive industry has to operate. It evaluates the combination of all the variables required for undertaking a comprehensive analysis and aims at identifying the best possible level to which the business can be expanded to maximise profits under the known constraints in which the business has to operate.

Target audience is corporate executives, students of MBA/postgraduate programme in management in strategic management and/or workshops for understanding the concept of SWOT (strengths, weaknesses, opportunities and threats) analysis, competitor analysis, Porter's Five Forces Model, Boston Consulting Group (BCG) Matrix, business environment analysis and growth strategies for future.

A combination of global competition and open access in the domestic market is putting pressure on the margins, as new players are likely to move towards gaining market share by bidding aggressively. This is threatening the competitive intensity for Bharat Heavy Electricals Limited (BHEL) in the long-term. Raw materials, such as steel products, that are critical to production process are subject to substantial pricing cyclicality and periodic shortages of supply in India. The margins are thus continuously being impacted by movement in raw material prices, especially steel and copper. How BHEL hopes to sustain its growth story? Whether Chinese competition will kill BHEL? These are some of the pertinent questions the authors will try to answer in this case study.

Use of SWOT analysis to identify the strengths, weaknesses, opportunities and threats to a company and use it as a tool to strategic decision-making. Highlighting the importance of strategic tools such as Porter Model and BCG Matrix within an emerging economy backdrop; to illustrate the alternatives and difficulties/complexities involved in a strategic planning process of growth and cost cutting; and to analyse the financial statements of BHEL.

Analysing public sector undertakings (PSUs)/government companies involved in infrastructure build up/projects of strategic nature in the country, their performance, challenges and efficiency in pre-liberalisation era and post-liberalisation era, and identifying how many are visible today, including the reasons for their growth/decline in generating revenues and profits, has multiple social implications especially for an emerging economy like India. A look at the performance trends of such companies over the past years too would help them in their quest by assisting them to get an idea of business and the industry profile in which BHEL is operating.

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This case attempts to study one of the key problems faced by a multinational organisation in the globalised environment that exists today: whether to outsource or insource. Outsourcing deals with getting into a contract with an outside vendor/supplier (local to the region in question) to deliver services to the parent company as per the agreed deliverables. On the other hand, insourcing deals with setting up operations in the destination country and hiring local staff on behalf of the company to do the same tasks.

Historically, outsourcing has been considered a better choice because of several benefits such as the ease of setting up operations, a predictable costing model and reduced capital investment. However, it comes with its own set of disadvantages as well, including a high attrition rate and a sub-standard level of quality in the deliverables. Apart from the quantifiable parameters, there are several qualitative parameters as well, which encompasses the employees' passion/commitment towards the company, sense of achievement and performance management process.

This case considers an existing situation in First Telecom (henceforth, referred as FT), where they have outsourced one part of their operations to multiple providers in India and are now facing huge issues with the quality of the deliverables; as a result, FT are now looking to explore if an insourced solution would be more cost-effective and productive. It evaluates the two models against various parameters and makes a recommendation on the preferred model.

This case can be used as a teaching tool in the following courses: MBA/postgraduate programme in strategic decision-making; MBA/postgraduate programme in management in management accounting and management control systems; and executive training programme for middle- and senior-level employees to look at the various factors involved (in addition to cost) that should be taken into account while comparing outsourcing versus insourcing.

FT is a communication service provider and has presence in more than 170 countries around the world. The company is considered among the top three telecom companies around the globe and offers solutions to multinational customers in the areas of networks, IP telephony, security services and other managed services.

The company has more than 100,000 employees around the globe. In addition to the regular (on rolls) employees, the company also outsources a lot of its operations in various countries to local service providers. The services that this company outsources include software/tools development, solution pricing and in-life service management. Historically, the company has believed that outsourcing is a better alternative because of the ease of setting up operations and lower cost.

However, because of the recent changes in the global market, there is a huge pressure within the company to reconsider all the functions and find ways to contain costs to help the company's bottom line.

There have been numerous complaints about the quality of output from one of the outsourced functions, namely, the “Pricing Team”, which is being presently outsourced to two service providers in India. The lack of accuracy has cost the company a key opportunity valued at more than USD5 million and the COO is furious at this loss. He has tasked the head of business improvement to do a full review of the function and look at the possible alternatives the company can explore to avoid these issues in future.

FT now wants to do a cost-comparison analysis of the existing set-up with a new insourced set-up considering all costs that would come into play. This would help FT to decide the future course of action to ensure reduced costs and enhanced operational efficiency from the process.

Understanding of cost-comparison parameters involved as an effective tool for strategy development and achieving organisational objectives; understanding of SWOT analysis (organisation level and decision level) and its applicability in the organisation context; understanding the Porter's five competitive forces model to illustrate the effect of environment on an organisation; and understanding of outsourcing and insourcing models and the pros and cons of each model, which is a key management decision in most multinational organisations.

Historical reports of the concerned unit in terms of the costs incurred, rate of attrition and operational efficiency achieved. Cost Accounting: A Managerial Emphasis, 14th ed., Charles T. Horngren, Srikant M. Datar and Madhav Rajan, Publisher: Prentice-Hall, 2012.Practical implications Based on the option (outsourcing versus insourcing) found to be better, appropriate actions would need to be taken in terms of either renewing the contracts with the outsourcing partners or preparing to terminate the existing contracts and hiring of talent from the market to replace the outsourced staff.

For nearly two decades, India as a country has grown considerably and one of the key contributors in that growth has been “Business Process Outsourcing” from all across the world to India. While the outsourcing wave has provided the initial push to the economy of India, it would not be able to help sustain the momentum primarily because of two reasons: the first is the growth of other countries, such as Hungary, the Philippines and China, as alternatives for outsourcing (and equally may be more cost-effective at times); and the second reason is the shift in various companies towards an insourcing model for critical functions.

Therefore, as a country, India needs to move ahead and, instead of only focusing on providing resources to do the tasks outsourced by global companies, focus should now shift to promoting innovation and creativity among the workforce. A lot of companies nowadays are realising the importance of product innovation and are investing huge amounts in R&D to come up with breakthrough technologies that can help them create a sustainable development model. However, this should in no way be considered an end of the outsourcing era. Although there needs to be an effort towards improving the interlock process, outsourcing is here to stay because of the benefits it brings.

Financial management, strategic management.

The study can be used by business schools, companies/organizations, individuals, students of business management, in the area of financial and strategic management to study and analyse management strategies by a Government organization that has to balance social objectives and commercial viability.

Indian Railways (IR) has mixed operations – passenger and freight – that generate resources for its development expenditure, as well as fully covering its operational costs. This is in sharp contrast to most world railways that depend on a subsidy for operations and development expenditure. While IR would strive to increase earnings through higher throughput levels and generate more funds through its own resources, the constraints of fixed expenditure, largely comprising staff related expenses and fuel costs make it difficult to achieve the target. Operational and safety considerations dictate the need to ensure adequate provision for working expenses. Global developments significantly influenced the Indian economy after 2008-2009 and resulted in moderation in growth compared with the robust growth in preceding years. IR is presently passing through a difficult phase which began with the slowdown in the economy and implementation of the Sixth Pay Commission's recommendations. While earnings continue to grow both in the passenger and goods segments, the expenditure on account of increases in salaries, allowances and pensions has been much higher than after previous Pay Commissions. This case explores this difficult period for IR when there was a major increase in operating expenditure largely due to the implementation of the recommendations of the Sixth Central Pay Commission and because of the global economic slowdown.

These include: being able to analyse whether the turnaround phase of IR is over; and discussing the strategies to return IR to the path of growth.

Teaching notes are available; please consult your librarian for access.

Accounting and finance, entrepreneurship and business strategy.

The case is suitable for the following courses: post graduate programs in entrepreneurship; executive training programs for middle and senior level employees; and MBA/post graduate programs in management in strategic management.

The case deals with an entrepreneurship venture whose initial business model appeared to be faltering with the founder wondering about the future of the company. After Ommune Solutions' (founded 2010) initial business plan failed, the company started offering IT outsourcing services to Indian customers. However, the company was spending more that it was earning and the CEO generated additional revenues through independent consulting. By 2012 a customer relationship management (CRM) tool was also ready for release. The company was another IT start up yet to find a firm footing. The CEO wondered whether he should continue to build the company and, if so, in which direction?

These include: the use of SWOT analysis as a tool to aid strategic decision making along with Porter's five competitive forces model and the BCG matrix; using cost benefit analysis for evaluating business decisions; understanding the complexities involved in a strategic planning process; and identifying unnecessary cost and increasing revenue generation for expansion and maximizing profitability.

The case provides insight on challenges faced by a venture at an early stage in the business environment and the venture is analyzed in depth. It gives students a perspective on decision making and adapting to scenarios where initial business plans appear not to have succeeded.

Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

Financial management, strategic management.

The study can be used by business schools, companies/organizations, individuals, students of business management, in the area of financial and strategic management to study and analyse management strategies by a Government organization that has to balance social objectives and commercial viability.

Indian Railways (IR) is one of the world's largest employers and there was a significant improvement in its financial performance during the period 2004-2008 without any reductions in its workforce. The main reasons for the poor performance of IR prior to this period were attributed to severe competition from other modes of transport, rigid pricing, investment in un-remunerative projects and other such practices. Various recommendations, including restructuring/corporatizing, reorganization, increasing passenger fares, unbundling of non-core activities, downsizing, and outsourcing, had been suggested by various management experts and it was declared that only major reform could rescue IR. However, IR met the challenges and attained unprecedented growth in traffic and earnings through certain strategic decisions. The study analyzes the strategies adopted by IR to improve its poor financial performance.

These include: understanding the challenge of sustaining the current market growth and capturing additional traffic by IR with its peculiar product-mix (transport mix) and limited resources; understanding the main reason for the downtrend of IR finances; acquiring an understanding of the advantage of adopting a volume-focused strategy by IR instead of the existing tariff-focused policy of revenue generation; and understanding the turnaround phase of IR and innovative strategies to get back to the path of growth.

Teaching notes are available; please consult your librarian for access.