JULY-2024 – ABPI

July 2024 Volume 40 Issue 07

1. GENDER-BASED COMPARATIVE ANALYSIS OF THE ANTECEDENTS OF DIGITAL BANKING CUSTOMER SATISFACTION

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2. A STUDY OF SELECTED HR PRACTICES IN MANAGING A MULTICULTURAL WORKFORCE: BUILDING DIVERSE AND INCLUSIVE WORKPLACES

Authors: RAHUL NAWANI and Dr. HARDIK SHAH

Abstract
In today's globalized world, it is imperative for businesses to effectively manage a multicultural workforce and create diverse, inclusive work environments. An organization's success in attracting and retaining talent from various cultural backgrounds largely depends on the HR practices in place. Human resources departments should start promoting diversity at the application stage. Inclusion in the workplace can be fostered by using diverse recruitment channels and avoiding biased language in job postings and requirements. In addition, HR experts can lessen the impact of implicit bias during the preliminary screening process by employing blind recruitment strategies. Diversity training programs should be implemented as a standard HR procedure, and these programs can help dispel myths and biases about other cultures among employees. When employees receive empathy and understanding training, the workplace becomes more welcoming, where people of all backgrounds can work together productively. Employees can be reminded of the importance of diversity and inclusion by attending training sessions regularly. The study’s primary objective is to investigate the strategies employed by the human resources departments of these companies in response to the unique challenges posed by a heterogeneous workforce. This study focuses on the human resource strategies used in the private industry. The purpose of this research is to conduct a critical literature assessment on the influence of human resources practices and policies on the perspectives and attitudes of employees toward organizational leadership. This study will examine human resource strategies implemented in the public sector to foster diversity, equality, and inclusion. The analysis will encompass various initiatives, such as affirmative action and cultural competence training. The study's results shed light on the various corporate diversity initiatives, such as recruitment and selection programs, educational and training endeavors, advocacy groups, and audits.
Keywords: Diversity Management, Workforce, HRM Interventions, Inclusive workplaces

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3. QUINOA’S GLOBAL ASCENT: UNLOCKING EXPORT POTENTIAL AND OVERCOMING MARKET CHALLENGES

Authors: SURESH CHANDRA SHARMA, JOLLY MASIH, NEHA SAINI and ASHIMA JOSHI

Abstract

Quinoa, a whole grain crop from the Amaranth family, is renowned for its edible seeds and leaves. It is gluten[1]free and rich in nutrients such as zinc, iron, fibres, antioxidants, and vitamins B and E, offering numerous health benefits. In India, quinoa has been adopted across diverse sectors including food and beverages, cosmetics, pharmaceuticals, and animal feed. Despite contributing only 0.6 percent to global quinoa exports, India ranks 13th among all agricultural commodities, with the United States being the largest importer of Indian quinoa, accounting for over 50 percent of exports. Canada has also shown significant growth in quinoa imports from India over the past five years. India’s increasing quinoa exports face several challenges, including competition from established producers like Peru and Bolivia, infrastructure and logistics constraints, adherence to quality standards and certifications, maintaining price competitiveness, and navigating export regulations and trade barriers. Addressing these challenges requires sustained efforts in research and development, infrastructure enhancement, capacity building, market diversification, and strategic trade promotion. Opportunities for expanding India’s quinoa exports include increasing cultivation, ensuring quality assurance, investing in value addition and processing, exploring new markets, branding and promotion, and establishing collaborations and trade partnerships. Indian exporters must conduct thorough market research, stay attuned to evolving market trends, and leverage these opportunities to enhance export success. Collaboration among the government, agricultural institutions, exporters, and stakeholders is essential to surmount challenges and boost India’s quinoa export potential.

Keywords: Edible seeds, Export, Quality standards, Market diversification, Trade promotion.

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4. WHAT DOES THE FUTURE HOLD FOR HEALTH INSURANCE PREMIUMS IN INDIA: INSIGHTS FROM ARIMA MODELS

Authors: JOLLY MASIH, ARUP MAJUMDAR and AMITA SHARMA

Abstract

Introduction: The Indian healthcare insurance sector has experienced substantial growth over the past few decades, driven by increased health awareness, policy reforms and the proliferation of private insurers. Accurate forecasting of insurance premiums is crucial for financial stability and risk management.

Methodology: The study analyses data on premiums from various segments of the Indian healthcare insurance sector, collected from 2005 to 2023. Segments include Non-Life Private Insurers (NLPRI), Non-Life Public Insurers (NLPBI), Standalone Health Insurers (SHI) and Total Health Insurers (THI). Data was sourced from the Insurance Regulatory and Development Authority of India (IRDAI) and various insurance reports. Data curation involved cleaning, organising and integrating the data, with missing values replaced using the Expectation-Maximization algorithm. Reliability and validity were ensured through cross-verification and statistical tests. The ARIMA model parameters were identified using the Akaike Information Criterion (AIC) and Bayesian Information Criterion (BIC) and implemented using the R programming language.

Results: The ARIMA (0,2,0) model was the best fit for forecasting NLPRI premiums, predicting a Compound Annual Growth Rate (CAGR) of 10.12% from 2024 to 2026. The ARIMA (0,2,0) model forecasted a CAGR of 8.31% for NLPBI premiums and 10.36% for SHI premiums. For THI, the ARIMA (0,2,1) model forecasted a CAGR of 8.87%. The model's performance metrics indicate that the forecasts are accurate and reliable across all segments, highlighting the expanding scope and scale of the health insurance sector in India.

Discussion: The substantial growth in the Indian healthcare insurance sector, evidenced by the ARIMA model forecasts, is driven by increased health awareness, policy reforms and the proliferation of private insurers. Accurate forecasting is essential for insurers to manage risk, set premium rates and ensure financial stability. These measures will help insurers navigate the evolving landscape and meet the healthcare needs of the Indian population

Keywords: Healthcare, Insurance, ARIMA, Forecast, Premium

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5. ENHANCING ACCOUNTABILITY THROUGH SUSTAINABLE MANUFACTURING: AN MCDM EVALUATION

Authors: Ms. MANJU JANGID and Dr. ARVIND DALAL

Abstract

The necessity of addressing environmental, economic, and social concerns is what is driving the growing significance of sustainable manufacturing techniques. The public interest accountability is the primary emphasis of this paper's evaluation of the sustainability of manufacturing activities. This study evaluates manufacturing plants according to four major criteria: social responsibility, economic performance, operational efficiency, and environmental impact. It does this by applying the Multi-Criteria Decision-Making (MCDM) methodology and, in particular, the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). In order to rate the sustainability performance of 20 manufacturing plants in India, data from those plants is analyzed. The results show that plants at the top of the list exhibit a comprehensive approach to sustainability, performing exceptionally well across all assessed parameters. On the other hand, plants with lower rankings exhibit serious shortcomings, especially in terms of incorporating sustainability into their daily operations. In order to rank higher overall, the study emphasizes the necessity of balanced performance across all sustainability dimensions. It advises manufacturing companies to strengthen their sustainability policies by addressing their weakest areas, which will increase accountability to the public interest. By connecting theoretical ideas with real-world application, this study adds to the growing body of knowledge on sustainable development in manufacturing and provides insightful information for academics and industry alike. The findings highlight how important it is to have openness, moral behavior, and responsible management in order to promote sustainable operations that are advantageous to both companies and the larger community.

Keywords: Sustainable Manufacturing, Public interest accountability, TOPSIS, United Nations, Sustainable Development Goals, Business Responsibility & Sustainability Report, Non-financial Reporting.

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6. “THE POWER OF FEMALE LEADERSHIP: EXAMINING ITS INFLUENCE ON ACADEMIC PERFORMANCE IN SCHOOLS”

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7. A STUDY OF SELECTED HR PRACTICES IN MANAGING A MULTICULTURAL WORKFORCE: BUILDING DIVERSE AND INCLUSIVE WORKPLACES

Authors: RAHUL NAWANI and Dr. HARDIK SHAH

Abstract

In today's globalized world, it is imperative for businesses to effectively manage a multicultural workforce and create diverse, inclusive work environments. An organization's success in attracting and retaining talent from various cultural backgrounds largely depends on the HR practices in place. Human resources departments should start promoting diversity at the application stage. Inclusion in the workplace can be fostered by using diverse recruitment channels and avoiding biased language in job postings and requirements. In addition, HR experts can lessen the impact of implicit bias during the preliminary screening process by employing blind recruitment strategies. Diversity training programs should be implemented as a standard HR procedure, and these programs can help dispel myths and biases about other cultures among employees. When employees receive empathy and understanding training, the workplace becomes more welcoming, where people of all backgrounds can work together productively. Employees can be reminded of the importance of diversity and inclusion by attending training sessions regularly. The study’s primary objective is to investigate the strategies employed by the human resources departments of these companies in response to the unique challenges posed by a heterogeneous workforce. This study focuses on the human resource strategies used in the private industry. The purpose of this research is to conduct a critical literature assessment on the influence of human resources practices and policies on the perspectives and attitudes of employees toward organizational leadership. This study will examine human resource strategies implemented in the public sector to foster diversity, equality, and inclusion. The analysis will encompass various initiatives, such as affirmative action and cultural competence training. The study's results shed light on the various corporate diversity initiatives, such as recruitment and selection programs, educational and training endeavors, advocacy groups, and audits.

Keywords: Diversity Management, Workforce, HRM Interventions, Inclusive workplaces

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8. DIGITAL TRANSFORMATION TECHNOLOGIES RESHAPING FINANCIAL REPORTING, TRANSPARENCY, AND ACCOUNTABILITY IN PUBLIC SECTOR ORGANIZATIONS

Authors: UMA GUNASILAN

Abstract

This study delves into the transformative potential of digital technologies—artificial intelligence (AI), blockchain, and big data analytics—within the realm of public sector accounting. These technologies are reshaping traditional financial reporting practices by enhancing transparency, efficiency, and accountability, which are crucial for robust governance and building public trust. The paper draws on both quantitative data analysis and qualitative case studies from various public institutions that have successfully implemented these technologies. The findings highlight that blockchain technology offers unparalleled transparency through immutable and timestamped records, significantly reducing opportunities for fraud and enhancing auditability. AI contributes to heightened accountability by enabling sophisticated compliance monitoring and fraud detection through advanced pattern recognition and anomaly detection in large datasets. Big data analytics enhances efficiency by automating routine tasks, optimizing resource allocation, and providing real-time insights for informed decision-making. Moreover, the study identifies several theoretical frameworks underpinning the adoption of these technologies, such as the Technology Acceptance Model (TAM) and Institutional Theory, which provide insights into the drivers and challenges of digital transformation in the public sector. The case studies presented demonstrate the practical applications, benefits, and obstacles faced during the implementation of these technologies, offering valuable lessons for other public sector organizations. The paper concludes with strategic recommendations, emphasizing the need for comprehensive planning, significant investment in IT infrastructure and staff training, phased implementation approaches, active stakeholder engagement, and continuous review and adaptation processes. These steps are essential for ensuring the successful integration of digital technologies in public sector accounting, ultimately enhancing service delivery and reinforcing good governance practices.

Keywords: Digital Transformation, Public Sector Accounting, Artificial Intelligence, Blockchain.

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9. COLLABORATIVE & MULTIMODAL LEARNING STRATEGIES ON IMPROVING ENGLISH LANGUAGE SKILLS AMONG ESL STUDENTS

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Accountancy Business and the Public Interest

Accountancy Business and the Public Interest

July 2024 Volume 40 Issue 07