Ramanujan International Journal of Business and Research

Impact of service quality on customer loyalty: A multi-analytic approach using neural network

Monika Agarwal, Samridhi Tanwar, Chandan Parsad, Sanjeev Prashar — Sat, 31 Dec 2022 00:00:00 +0000

The purpose of this study is twofold, first to explore the relationships among service quality dimensions and customer loyalty in the life insurance sector. The second aim is to find the sequence of significant service dimensions in predicting customer loyalty. A total sample of 431 customers from the top five private life insurance companies were surveyed. The multi-analytic approach: a combination of structural equation modeling and neural network model was used for the analytical process. The results from structural equation modeling revealed a significant and positive association of six service dimensions namely responsiveness, service availability, tangibility, reliability, assurance, and empathy with loyalty intentions of customers. The result of the neural network model showed that reliability is the best predictor of customer loyalty followed by responsiveness, assurance, tangibility, empathy, and service availability. The application of a multi-analytic approach (a combination of structural equation modeling and neural network) for understanding service quality-customer loyalty relationship can be of great help to private life insurance companies who are devising service strategies to influence loyalty intentions of customers to gain a competitive advantage in the market.

Machine Learning to Evaluate Important Human Capital (HC) Determinants Impacting IT Compensation

Rachana Jaisawal — Sat, 31 Dec 2022 00:00:00 +0000

India is producing over 1 million youth per month resulting in ameliorating economy and a high attrition rate in the workforce, therefore employers must leverage their benefits to perpetuate, nurture their rising workforce & avoid a shortfall in their talent pipeline to stay sustainable & be Employer of Choice. Corporates must develop a suitable compensation strategy to stay competitive and engage their workforce because employees depend mainly on wages and salaries which must be equivalent to their work done. In light of these, it is very much essential for the author to consciously evaluate human capital indicators that are impacting the compensation in Indian IT Companies. This paper aims to evaluate five different machine learning classifier algorithms to predict the topmost important features and the best model for IT compensation based on a survey of 1170 IT professional responses across 61 organizations collected in the NCR region. Due diligence has been given to evaluate the most accurate classifier based on the accuracy score. The result indicated that Random forest regression performs better with a mean absolute error of 0.07 degrees and an accuracy of 99.63%. The finding of the study reflects that the top important variables in determining CTC are Experience, Institution from which the candidate graduated, education, and the Skillset that the individual possesses. These variables have a greater impact on compensation designing and act as strong predictors while other variables are marginally insignificant for predicting the compensation of IT sector employees. Moreover, this study could be beneficial for job seekers and employers looking to hire top talent for their organizations. As the Deep Learning model requires a huge amount of data which was limited in this case, therefore, the researcher could not employ them.

Growth of India’s High-tech Exports: Do the Import of Intermediate Goods and Inward FDI promote India’s High-tech Exports?

Ashwani Mahajan, Dr. Phool Chand, Tausheef Alam — Sat, 31 Dec 2022 00:00:00 +0000

Exports across the globe have gone through structural change which has also led to diversification of export basket of the economies around the world. At present the world is witnessing a shift towards medium and high technology exports as compared to low technology and natural resource based exports. More competency in high technology based production of goods and their and exports can be a very important key factor in the growth and development of an economy. As the high technology exports play a very crucial role in the growth and development of an economy, the present study attempts to study the growth of India’s high-tech exports and secondly to find out the impact of import of intermediate goods and inward FDI on India’s High-tech export performance. Two control variables namely R&D expenditure as a percentage of GDP and economic freedom level represented by index of economic freedom are also taken into the studying order to take up the analysis. This study uses simple and multivariate regression model for the purpose of empirical analysis. In this study, value of high-tech exports has been taken as the dependent variable and on the other hand imports of intermediate goods, inward FDI, R&D expenditure and index of economic freedom are four independent variables. Results in the study show that, Firstly, high-tech exports performance has improved over the last two decades and secondly, both import of intermediate goods and inward FDI has a significant positive impact on the growth of India’s High-tech exports.

Recruitment during COVID-19: Challenges and Way Forward for Human Resource Managers in India

Arvind Kumar, Vanshika Jain — Sat, 31 Dec 2022 00:00:00 +0000

Even before the pandemic hit us, recruitment practices were undergoing drastic changes all over the world. COVID-19 pandemic then played an important role in amplifying the speed of this change especially the digital change. The profession which cannot work without connections and personal touch was forced to be restricted to a computer screen. This study investigates how pandemic and associated restrictions impacted the recruitment practices followed traditionally. Phenomenological study approach was followed where data was collected using semi-structured interview with HR managers of 11 private companies in the Financial and IT sector in India to give an accurate representation of real-life phenomena. In our discussion, we outline the major challenges faced by recruiters in pandemic and how we believe that the practices adopted to face these challenges are here to stay even after the impact of pandemic subsides. We conclude our discussion by explaining the future reshaping of the recruitment domain by identifying six major themes.

Role of Organic Certification and Trust in Organic Food Buying Intention: Attitude as a mediator

Harsheshkumar R. Patel, Mahendra Sharma, Rajen Purohit — Sat, 31 Dec 2022 00:00:00 +0000

The present research study aims to evaluate the impact of organic certification and trust on consumers’ purchase intention of organic food products by using the TPB framework with evaluating the mediation effect of attitude. The present study is based on 466 western consumers of India collected via convenience sampling method through an online survey and social media. The structured questionnaire was designed in the form of a Google form and a link for the same shared online. The Collected data were analyzed using CFA and SEM. Findings suggest that trust, organic certification, and attitude towards organic food significantly influence purchase intention, whereas subjective norm and perceived behavioural control do not. It empirically confirms the mediating effect of attitude between organic certification and intention to buy. Organic certification and trust both have more of a direct effect on purchase intention than an indirect effect via attitude as a mediator. This study is based on organic food in general and not a for specific product class where the result can be different. The limitation of convenience sampling may affect the result where the future studies can be directed. This paper explores the role of ‘organic certification’ and ‘trust’ in getting insights into Indian consumers’ organic food purchase intention that is rare in nature. Moreover, the mediating role of ‘attitude’ in organic food is examined as a novel contribution in India.

Perception of Women Trainees’ regarding Skill Development Initiatives of Kudumbashree for Employability

S Aiswarya, S Sangeetha — Sat, 31 Dec 2022 00:00:00 +0000

Sustainable Development Goals are the main aim of India, to be achieved by 2030. Poverty alleviation and gender equality are two important Sustainable Development Goals. To achieve these two goals, the Indian government launched a slew of initiatives. One such initiative is the skill development programme. Education-related unemployment is the main problem faced by Kerala. The Kerala government, in collaboration with Neighborhood Group Kudumbashree, launched a lot of skill development programmes not only for women but also for youth, rural, and minority groups. The present study focuses on the effectiveness of skill development initiatives in generating employment from the perspective of women trainees. Using a simple random sampling method, primary data were collected from 60 female trainees in the Palakkad district. The data is gathered using a questionnaire. Percentage, mean value, Karl Pearson’s correlation coefficient, one-way ANOVA, Chi-square test, and independent sample t test are used for analysing the collected data. The results of a one-way ANOVA test show the influence of age and education qualification on trainees' perceptions of skill development initiatives. According to the findings of the study, the need for skill has an effect on overall satisfaction with the program. The study concludes that programmes are effective in imparting skills and knowledge. However, in order to study the course thoroughly, the syllabus should be expanded and the number of practical training hours increased.

Key words: skill development programmes, trainees, Kudumbashree, perception, and employment.

Examining the Interlinkages among the Virtual Experiential Technique’s Influencing Factors in the eCommerce Industry: An ISM and MICMAC Approach

Artee Bhadauria, Rohit Rajwanshi, Richa Agarwal, Hans Kaushik — Sat, 31 Dec 2022 00:00:00 +0000

Globally eCommerce potential is expanding at 55% of CAGR and accounts for 30% of global GDP growth as per the report generated by NASSCOM and Statista. The eCommerce industry's sustainability, on the other hand, is dependent on rising consumer engagement using tailored virtual experiential techniques. Hence, the focus of this study is on the links among the factors that influence sustainable client engagement via virtual experiential approaches. After reviewing 44 ABDC-indexed literature and utilising the nominal group technique, a list of 19 parameters influencing virtual experiential methods was identified. The driving force-dependency quadrant graph is then built using cross-impact matrix multiplication, and the hierarchical structure of each factor is identified using the ISM soft approach. Resultantly, immersive technologies were identified as the main VET driver for generating long-term customer engagement. This study will help decision-makers create proactive plans and regulations to strengthen operational models and boost the eCommerce industry's sustainable growth.