Once the decision is taken to implement total quality management (TQM) in any organization, achieving TQM is a journey. It takes significant effort over an extended period of…
Abstract
Purpose
Once the decision is taken to implement total quality management (TQM) in any organization, achieving TQM is a journey. It takes significant effort over an extended period of time. Seeks to propose a TQM performance index.
Design/methodology/approach
An industry TQM performance index evaluates and ranks the various industries practicing TQM for a given period of time. Uses graph theory and a matrix approach.
Findings
The index is obtained from industry performance function, which is useful for identification and comparison of the different industries for their TQM performance. If the TQM evaluation is done correctly, the evaluation will present the profile of the organization to different audience, i.e. the customers, governments, other industries, funding agencies and public.
Originality/value
The model suggested for evaluation presents a logical approach to rank the industries and other organization practicing TQM or other quality program.
Details
Keywords
Sushma Verma, Samik Shome and Aakruti Patel
The study aims to empirically evaluate the effect of internal factors of small and medium enterprises (SMEs) on their financing choices. It also examines the financing practices…
Abstract
Purpose
The study aims to empirically evaluate the effect of internal factors of small and medium enterprises (SMEs) on their financing choices. It also examines the financing practices of listed SMEs in India and finds out whether the financing patterns of listed SMEs follow the established theories of corporate finance.
Design/methodology/approach
For this study, 113 SMEs listed on National Stock Exchange Emerge Platform are considered for the period from 2014 to 2018. Panel data regression is applied. The control group has been identified by using the propensity score matching approach. Qualitative information has been collected from the bank officials and the promoters of listed SMEs.
Findings
The study reveals that for meeting financial requirements, listed SMEs initially create current liabilities followed by usage of total reserves. Thereafter, they look for short- and long-term borrowings for further funding options. No significant change is observed in the financing pattern of listed SMEs as compared to their non-listed matched firms. The study suggests that no single theory, including pecking order theory or trade-off theory, could explain the behaviour of SMEs financing completely.
Research limitations/implications
The financing pattern of SMEs can be of great interest to various stakeholders such as government and lenders. As no significant boost is observed in debt financing post listing, this aspect needs to be evaluated by the stakeholders.
Originality/value
This study is significantly different from the existing studies, as it attempts to evaluate the impact of listing on overall financing pattern of SMEs in India. This is also one of the very few studies that uses both quantitative and qualitative information to examine the same.
Details
Keywords
Today, as we hurtle towards imminent planetary destruction in the age of the Anthropocene, we believe it may be instructive to try and understand if the ancient science of…
Abstract
Today, as we hurtle towards imminent planetary destruction in the age of the Anthropocene, we believe it may be instructive to try and understand if the ancient science of spirituality can prove useful in humankind's ability to change course, even at this late hour. We argue that such a paradigm shift is critically essential for human survival and that without the inner transformation proposed by this science, it may prove impossible to build a society based on the principles of liberty, equality and fraternity. This chapter draws from foundational texts and authoritative sources across multiple religious traditions, based upon which it outlines a brief sketch of the ancient science of spirituality. We begin with an account of the differentia specifica of this science, where we delve into what kind of science this is. Since it is centrally concerned with inner transformation, we briefly outline the theory of change embedded in this science and the kind of rejuvenation it enables, which makes it possible for us to clearly perceive the key elements and the structure of reality. We then spell out the impact this has on the nature of human action, continually teasing out implications for policy and practice in our time. We provide a few concrete illustrations of the same. Inter alia, we also show how many of these insights can be found even within modern scientific and philosophical traditions, thereby indicating possibilities of convergence and synthesis between ancient and modern science, following thereby the guidance of genuine spirituality.