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2023 | Buch

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Digital Transformation for Business Sustainability

Trends, Challenges and Opportunities

herausgegeben von: Aloysius Edward J., K. P. Jaheer Mukthar, Madhu Dhruvakumar, T. K. Murugesan

Verlag: Springer Nature Singapore

Buchreihe : Contributions to Environmental Sciences & Innovative Business Technology

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

This book explores how digital technologies can be used to drive sustainable business practices and achieve long-term business success. It offers insights and practical strategies and guidance that can help businesses adapt to the digital age, optimize their operations, and create new opportunities for growth. The book further provides real-world examples that illustrate how businesses can leverage digital technologies to achieve long-term sustainability and success. The book is an essential read for business leaders, managers, academician, practitioners and entrepreneurs who are looking to drive sustainable digital transformation within their organizations.

The book covers a wide range of topics, including:

1) Understanding the digital landscape: The book provides an overview of the digital technologies that are transforming business operations, such as artificial intelligence, cloud computing, and the Internet of Things. It explores how these technologies can be leveraged to create sustainable business practices that benefit both the organization and society.

2) Building a digital strategy for sustainability: The book offers guidance on how businesses can develop a digital strategy that aligns with their sustainability goals. It covers topics such as identifying digital opportunities, setting targets, and measuring performance.

3) Embedding sustainability into digital operations: The book explores how businesses can integrate sustainability into their digital operations, such as data management, supply chain management, and product design. It provides examples of companies that have successfully implemented sustainable digital practices.

4) Digital innovation for sustainability: The book discusses how businesses can use digital innovation to create new opportunities for sustainability. It covers topics such as circular economy business models, sustainable product design, and social innovation.

5) Leading for sustainable digital transformation: The book offers insights on how business leaders can drive sustainable digital transformation within their organizations. It covers topics such as leadership skills, organizational culture, and stakeholder engagement.

Inhaltsverzeichnis

Frontmatter

1. One Planet One Compliance: Stakeholder Perception Analysis on the Efficacy of the IR Framework of ESG Disclosure

Abstract

The objective of conducting this research is to investigate the efficacy of <IR> Framework in ESG disclosure with the help of supporting literature as well as by conducting stakeholder perception on the Integrated Reporting framework through the questionnaire method. For this, an initial attempt has been made to reveal whether there is One Planet One Compliance. And then we have discussed the perception of stakeholders on the efficacy of <IR> in ESG disclosure. The study reveals that though there are diverse reporting frameworks prevailing, each has its own efficiency like CDP aligned with TCFD and CDSB possesses its own uniqueness and is highly efficient for disclosing climate-related issues. While, GRI and SASB provides standard & metrics across all the three pillars of ESG for diverse industries. Besides, <IR> is efficient in providing guidance and principles on ‘what to be reported and to what extent’. Additionally, from the stakeholder perception analysis, it was concluded that <IR> is an ‘umbrella’ for corporate reporting and capable of replacing other reporting approaches as it is ‘Extremely Effective’ in disclosing the Business model, its value creation process, Risk and Opportunities, Management dialogue on emerging environmental and social risk/opportunities (e.g. climate change, HSE, Human rights, etc.). Thus, a collaboration of these organisations under one umbrella of Value Reporting Foundation and subsequently merging with IFRS Foundation is a pathway towards One Planet One compliance.

Musarrat Ara, B. Harani

2. Sustainable Influence of Instagram and Its Linkages on Gen Z's Purchase Intention

Abstract

Covid-19 brought in a lot of new technological developments when it plagued the world. Countries across stayed connected via social media. Applications such as Instagram, TikTok, and YouTube were ways to stay connected. Social media started off as a mere platform to connect but over the years it has transformed into so much more. Instagram has grown to be a marketplace. Businesses now have increased visibility and a better chance to reach their target audience. Gen Z particularly used such platforms for staying connected, for education, and even for entertainment. Instagram is the third most used application in the world and it has opened an array of opportunities both to the seller and to the buyer. A decade ago, no one would have thought that Instagram would end up being a marketplace too. India has one of the biggest Gen Z populations. Which is approx. 250 million people. Giving marketers a very new target audience generation, one that is thoughtful about a lot of agendas. Such as sustainability and ethics. Today’s customer has become demanding and it’s more difficult to convert them. But digital marketing makes it easier to make the right buyer and seller meet. In this research, we discover how Gen Z’s purchase behavior is on Instagram. With that intention, the study topic was chosen for research as it is relevant to today’s time and marketing practices. the study is descriptive in nature. A sample size of 86 was chosen randomly from the Gen Z population and data was collected using the survey method called structured questionnaire tool. Collected data was analyzed, interpreted, and presented in the report for further extension of research.

Anitha Nallasivam, S. Mahalakshmi

3. Neuro Marketing: An Astonishing Addition to the Marketing World

Abstract

Neuro marketing is one of the physiological marketing activities that use neural signals which gain insight into customers’ preferences and decision-making which in turn leads to create product advertising, pricing and development in the area of marketing. Neuro marketing is the combination of neuroscience and the cognitive science of marketing. Common measurements like Brain Scanning, which measures neural activity, and Physiological Tracking, which measures eye movement and other proxies for the marketing activity, are used here. It also uses Brain Imaging to observe which neural circuits lit up or went dark during the process of buying and through which the interest and decision-making of the customer can be predicted. With this prediction, the interested people can understand how the customer’s brain will react to the stimuli in online marketing, which is not simply what they self-report in the qualitative surveys. It is ultimately the truth that impulses to write about MRI’s. Though Neuro marketing requires high investment because of the tools like EEG, fMRI, etc., it helps the business to understand some major things to market their products from the customer’s point of view like “Does this product worth the price?”—when the price comes first and “Do they like this product?”—when the product comes first. This paper concentrates on the role of Neuro marketing as an effective tool for marketers in this new era of market research for the present intelligent, rational and potential consumers.

C. Archana, Akshay Mahajan

4. Impact of Digital Transformation on Impulse Buying Behaviour with Special Reference to FMCG Sector in Sustainable Environment

Abstract

The purpose of this research is to look into the impact of digital transformation on impulse buying behaviour in the FMCG industry. With the widespread adoption of digital technologies and the growing importance of e-commerce, consumer behaviour has undergone significant changes in recent years. The study will use a quantitative research approach, involving a survey of consumers who purchase FMCGs. The collected data will be analysed statistically using techniques such as correlation and regression analysis. The study's findings will provide insights into the extent to which digital marketing channels influence impulse buying behaviour in the FMCG sector, the effectiveness of digital marketing strategies, and the role of social media in shaping consumers’ impulse buying behaviour in a sustainable environment. Additionally, the study will compare the differences in impulse buying behaviour between consumers who shop for FMCGs online versus those who shop in physical stores. The study's recommendations will enable FMCG companies to leverage digital transformation to enhance their impulse buying behaviour and improve their marketing strategies. Overall, this study will contribute to the existing literature on the impact of digital transformation on consumer behaviour, particularly in the FMCG sector.

S. Bharathi, Hemanth Kumar V

5. A Case Study of Sustainable Service-Based Marketing Strategy of Food Delivery Business in India

Abstract

This paper explores the marketing strategies of food delivery services in India by focusing on the comparison between four popular platforms—Food Panda, Zomato, Swiggy, and Faasos. The food delivery service sector in India has seen significant growth in recent years due to the increasing demand for convenience, busy lifestyle, and the ease of access to mobile devices. The study analyzed the various marketing techniques employed by these platforms, such as discounts, loyalty programs, targeted advertising, partnerships with restaurants, and promotional campaigns. The research found that Swiggy dominates the Indian food delivery market with its focus on providing fast and reliable service, while Zomato and Food Panda are catching up with their recent innovative marketing strategies. Faasos, on the other hand, has a unique positioning with its focus on providing healthy and fresh food options. Overall, the findings suggest that the success of food delivery services in India depends on several factors, including customer satisfaction, strong partnerships with restaurants, and effective marketing strategies.

S. Sneha, S. Ajith, K. N. Sakhivel

6. A Study on Consumer Behaviour Purchasing Pattern on Durable Products in Sustainable Consumer Market

Abstract

The large scale production of goods and the durability of usage by the consumer to enrich their life style. The innovation, technological advancement and changing consumer taste and preference led to more production of durable goods/products. The consumers are led by more socially, economically and political in chose of purchase of product. The purchasing pattern of consumer are induced by earning capacity, socio-economic, cultural, demographic, etc. the emerging consumer are more vibrant and knowledgeable in choose of purchase. The migration of consumer from rural to urban area has led more demand for durable product. The changing life style pattern along with their migration shown enormous consumption of durable product. The growth rate of consumer durable on an average of 15%. The growing population is tender towards more white goods, modern kitchen appliance, electronics wearables. This present scenario paved to strong competition and large attraction towards Indian market. Now Indian market is become potential for global competitor to market their durable product. They are tapped by the new innovation and adaptability to new technology by the consumer.

G. Pradish Kumar, I. Shanthi Imaculate Jaculin

7. A Study of Financial Literacy as a Sustainable Factor Among Micro-entrepreneurs in Coimbatore District of Tamil Nadu

Abstract

Financial literacy is perceived as a more pressing issue in wealthy countries than in developing ones, particularly after the occurrence of financial crises. It has become increasingly crucial to achieve financial stability and prevent financial catastrophes. Therefore, the focus of this research is to determine the level of awareness among microbusiness owners in the Coimbatore area of Tamil Nadu regarding the importance of becoming financially literate. To accomplish the study's objectives, a descriptive cross-sectional design was employed, utilising a survey approach with a structured questionnaire to assess financial literacy. The questionnaire aimed to measure the degree of awareness of financial education among micro-entrepreneurs. The data collected was subjected to analysis using both descriptive and inferential statistics. The survey findings revealed that microbusiness owners in the Coimbatore area are enthusiastic about contributing to financial literacy initiatives. This indicates that they are well aware of the value and potential advantages offered by being financially literate.

P. M. Varshini, Aravind Sakthivel, K. N. Sakthivel

8. Technostress and Students in Sustainable Work Environment: An Empirical Study

Abstract

Technological advancements have significantly transformed the modern educational landscape, offering new opportunities and challenges for students. However, the widespread integration of technology in learning environments has also led to the emergence of a phenomenon known as “technostress” among students. This empirical study aims to investigate the impact of technostress on students in a sustainable work environment. The study employs a descriptive approach, using a quantitative survey method to gather comprehensive data from a diverse group of students. Participants were selected from various educational institutions and diverse socio-economic backgrounds to ensure a representative sample. The survey instrument measured the frequency and intensity of technostress experienced by students providing valuable insights into the underlying causes and coping mechanisms. Preliminary findings indicate that a significant number of students are affected by technostress in their educational pursuits.

K. Neelima Ravindran, M. Manjula

9. Indian Economic Crisis: COVID-19 Versus Russia-Ukrainian War

Abstract

The economic stability of a country is important for the country’s economic growth. This paper focuses on the economic crisis India has been facing currently due to inflation. The study is based on the impact of COVID-19 and the Russia-Ukrainian on the Indian economy. The objective of the paper is to analyse the economic crisis of India and the policy measures taken by the government. The current study is based on an extensive literature review and secondary data analysis. The secondary data has been used from different published reports. Trend analysis is done for unemployment and inflation to measure the impact of the crisis on the Indian economy. It was found that India was facing a range of economic issues that have both short-term and long-term implications. The country needs to take proactive steps to address the issues and improve the economic outlook of the nation.

Salma Begum, R. Guna Durga

10. Digital Transformation in Sustainable Digital Marketing: Trends, Opportunities and Challenges in Targeting Millennial Consumers

Abstract

The complexity of consumer behaviour challenges marketers to keep up with the rapidly proliferating digital channels and their users. The most targeted segment of digital marketing is 65% of India’s population, the young consumers. The consumer market is dominated by millennials, born between 1980 and 2000, who are young, learned, affordable, affluent, tech-savvy and decision-makers when it comes to purchases. They are the biggest part of economic growth and development because of their unique characteristics. This study intends to measure the impact of digital marketing channels on the millennials. It was found that the advertisement needs to be crafted specially for this segment. Unique colour, feel and content are needed for reaching out to this section of the society.

Ganesh Hosur, Kattamuri Satish

11. A Study on Impact of Exchange Rate of Currencies on Indian Stock Market

Abstract

The stock market plays a significant role in the economy, providing a platform for companies to raise capital and for investors to invest in profitable opportunities. The National Stock Exchange (NSE) is one of the leading stock exchanges and is considered as the backbone of the country’s capital market. The NSE is an avenue for trading securities, including equities, debt and derivatives, and provides an efficient and transparent marketplace for investors and traders. This research study aims to examine the relationship between the Indian stock market (NSE) and a basket of currencies, including the US dollar, Euro, Japanese Yen, Great Britain Pound and Chinese Yuan. The study employs a time-series econometric analysis using weekly data over a period of fifteen years from January 2008 to February 2023. The study examines the impact of exchange rate fluctuations on the NSE. The research findings provide important insights for investors and policymakers in understanding the dynamics of the Indian stock market and its relationship with the global economy. The results of this study could have implications for investment decisions, risk management and policy formulation in the context of the Indian economy.

H. Meena, Aishwarya Shiva Kumar, Sandesh Bhat

12. Blended Learning as a Sustainable Strategy in Digital Transformation—A Study of Challenges Faced by Parents at Sultanate of Oman

Abstract

This paper explores the concept of blended learning as a sustainable strategy in facilitating digital transformation within organizations. It begins by analyzing the driving forces behind the shift toward digitalization and the challenges that necessitate a balanced learning approach. The study delves into the core principles of blended learning, highlighting its adaptability and effectiveness in fostering employee development and organizational learning. The study explores the changing dynamics of parental involvement in the learning process due to blended learning. It examines the shifting responsibilities and roles parents are expected to play in facilitating their children’s education, both inside and outside the traditional classroom.

Alamelu Mangai, Jaffer Ali Khan, Samiulla N. Mallik

13. A Study on Work Life Balance of Teaching Women Employees Through Training Programs in Government First Grade Colleges in Chitradurga District

Abstract

The study employed a mixed-method approach, combining quantitative surveys and qualitative interviews to gain comprehensive insights into the experiences of teaching women employees. A structured questionnaire was administered to a diverse sample of teaching women employees across various Government First Grade Colleges to gather quantitative data. Additionally, in-depth interviews were conducted with a selected group of participants to delve into their perspectives and experiences in greater detail. The research focused on several key aspects, including the challenges faced by teaching women employees in maintaining work-life balance, the impact of work-life balance on job satisfaction and performance, and the perceptions regarding the effectiveness of existing training programs aimed at enhancing work-life balance. The work-life balance of teaching women employees are more important concept because, after covid 19 in the education system, huge changes are going on in offline teaching converted into an online system. In this situation, the negative vibration starts from the side of teaching women employees, learning E-tools to reach the students and without training, it is very difficult to operate E-tools, so they expect provide to E-tools training from the side of institutions. To continue in the teaching field and sustainable development in their profession, this study identifies the work-life balance of teaching women employees in government first-grade colleges in the Chitradurga district and how they managed themselves in these new challenges. And giving guidance to them on how they can balance their work with sustainable development in the education field.

Syeed Rajeena, H. S. Jamuna Rani

14. Way Forward for Sustainable Digital Marketing: A Bibliometric Analysis

Abstract

Digital marketing is the trending type of marketing that heavily uses the internet, Information, and Communication Technology (ICT) and online-based digital technologies to promote products and services. Internet made life much easier; a large number of customers spend their time on digital and social media for different reasons ranging from information gathering to final product purchase. Thus, marketers are allocating a sizable portion of their advertising budget to digital marketing. As a result, this paper sheds light on articles on digital marketing to identify top themes, determine the current state of research and studies in digital marketing, and indicate how influential works have shaped it. Using bibliometrics analysis, this study examined 987 papers published in Web of Science (WoS) database between 1993 and 2022. According to these findings, an average of 2.26 authors contributed to each paper on digital marketing, with a collaboration index of 2.49. USA, China, and UK are the top countries which are adding knowledge to the existing arena of digital marketing. The results depict a positive trend in academic and research interest in digital marketing from 1993 to 2022 as the annual scientific productivity shows a continuous increase over these years. Digital transformation and digitalization also act as an accelerator of the same.

Aparna Merin Mathew, M. P. Akhil

15. Impact of Digital Taxation for Sustainability Among Taxpayers With Special Reference to Bangalore

Abstract

Digitalization is rapidly changing all aspects of human life, our society and also our economy at large. The scale and speed of change brought about by digital transformation are remarkable and pose a variety of challenges for policymakers. E-filing is a prominent inclusion in the world of digitalization. Filing of tax with the help of digitalization in other words called E-filing is user-friendly and easier and also more efficient and accurate when compared to manual paper returns. It eliminates the need to make physical paper copies and attachments such as postage etc. Digitalization of tax is a good initiative taken by the government but people who are not well versed in computers, senior citizens or people from rural areas will find it difficult to file tax. Considering this as our problem statement we initiated a primary study to find out the opinion of taxpayers for which a questionnaire was circulated and based on the responses received by a few tax and non-taxpayers in and around Bangalore, an analysis has been brought down which gives answers to various questions amongst the main objective behind every question was to determine the impact of digitalization of tax on the taxpayers. This paper examines the attitude of taxpayers towards digitalization and the challenges and concerns faced by them. It further states the various ways how the tax payment can be made user-friendly.

S. V. Malvika, Nikhila Vikram

16. A Study on Price Discovery of Jeera and Mustard Seeds Sustainable Trading in NCDEX

Abstract

India being an agricultural economy, agricultural commodities play a very important role. The commodity derivative market was started a way long back in 1874 in India but it regained its importance only from 2000 and within the span of a short time it has gained its importance in price discovery, hedging and arbitrage process. An efficient commodity futures market attracts a number of investors in the futures market. At this juncture, there are many complications related to price signals, volatility spillovers and price discovery in the spot and futures of Indian commodity market. The present study examines the price discovery of agricultural commodities traded in the NCDEX with reference to the spot prices and future prices of jeera and mustard seeds for the period of January 2020 to December 2021. The study investigates the integration between spot and future price through Johnson integration test and the causal relationship whether they have a bidirectional or unidirectional relationship by using Granger Causality Test.

Madhu Druva Kumar, Cherian Thomas

17. Rational Influence of Debt Structure Patterns on Sustainable Profitability: A Pragmatic Evidence from Tata Steel

Abstract

The primary crux of this empirical study is to analyze the rational influence of debt structure patterns on the profitability position of Tata Steel. The financial data of Tata Steel were collected for the period of ten years, i.e., from 2013 to 2022. Three econometric models were developed by the researchers to analyze the influence of debt content patterns on the profitability position of the sample company. For measuring the profitability of the company, the financial indicator of ROTA was employed and STD to TA, LTD to TA and TD to TA were employed in this empirical study to identify the debt structure patterns of the company. To pragmatically analyze the cogent association between debt structure patterns and profitability position, three significant accounting models were developed and analyzed by using Ordinary Least Square (OLS) indicators. Since three accounting models clearly showed that the overall debt structure patterns have the substantial stimulus on the profitability position of Tata Steel. The best accounting model was also selected based upon the OLS indicators such as OLS AIC criterion, OLS SCH criterion and OLS HQ criterion.

T. K. Murugesan, S. Vidhya

18. Synthesis of Factors Impacting Usage of OTT Platforms: Sustainability of OTT Industry Post Pandemic

Abstract

India’s OTT streaming market has made a remarkable growth and prominence, positioning it as one of the largest and fastest-growing in the world. With a diverse range of popular streaming platforms such as Voot, Alt Balaji, Zee5, MX Player, Amazon Prime, Disney + Hotstar, Netflix, Sony Liv, Aha, and numerous others. The main objective is to Synthesise factors impacting the usage of OTT platforms. The study adopted a cross-sectional descriptive approach. Three hundred and eighty responses were collected using convenience sampling method. Six factors, i.e., content, convenience, features, price & quality, satisfaction and willingness to continue usage of OTT platforms were considered. The effect of these five factors along with willingness to continue usage is tested on subscription decisions using correlation and regression analysis. Given the highly diverse nature of the Indian OTT service market, this descriptive study offers valuable insights into streaming service providers operating in this fiercely competitive landscape. The findings can assist OTT service providers in making informed decisions and devising effective strategies to cater to the specific needs and preferences of Indian consumers.

A. Pushpa

19. Digital Transformation for Sustainability in Bengaluru: Is It Happening in a Smarter Way?

Abstract

Tier one cities are naturally assumed to be the hubs of digitalization. A closer look at rankings proves otherwise. In such a case, it is worthwhile to understand the problems faced by a city like Bengaluru. The study found that the nature of problems is systemic. It calls for action from the concerned seats of power. The study is an eye opener for the government and calls for imminent attention on a city that has potential to flourish leaps and bounds. This study specifically focuses on digitalization or digital transformation. Digitalization of daily use services leads to mass usage of such services. Therefore, it is totally a government centered initiative when it comes to the source of implementation of digital transformation in smart cities.

Cherian Thomas, Madhu Druvakumar

20. Investment Perception of Working Age Population Towards Crypto Currency in Sustainable Financial Market

Abstract

Crypto currency has gained increasing popularity among the working-age generation as a means of investment and financial transactions. This paper explores the relationship between cryptocurrency and the working age generation, focusing on the attitudes, behaviours, and outcomes associated with digital assets. Using a combination of quantitative and qualitative research methods, we examine the ways in which individuals in the working age range (typically defined as 18–64 years old) interact with cryptocurrency, including their levels of awareness, usage, trading, and mining. This paper examines the relationship between cryptocurrency and the working age generation. It investigates whether members of the working age generation are more likely to use cryptocurrency compared to other age groups and whether they have a better understanding of the technology and its potential uses. The study collected data through a survey of a sample of the working age population and analyzed the results using ANOVA tests. The findings show that while the working age generation has a higher awareness of cryptocurrency compared to older generations, there is no significant difference in their usage or trading behaviour. This suggests that while the working age generation may have a better understanding of cryptocurrency, they are not necessarily more likely to use it compared to other age groups. The study concludes by discussing the implications of these findings for cryptocurrency adoption and future research directions.

S. Vidhya, T. K. Murugesan

Titel: Digital Transformation for Business Sustainability
herausgegeben von: Aloysius Edward J.
K. P. Jaheer Mukthar
Madhu Dhruvakumar
T. K. Murugesan
Verlag: Springer Nature Singapore
Electronic ISBN: 978-981-9970-58-2
Print ISBN: 978-981-9970-57-5
DOI: https://doi.org/10.1007/978-981-99-7058-2