One fascinating aspect of the current global business environment is its ability to cope with the changing demands and aspirations of the customers and employees, if not the investors, resulting in a series of experiments in the direction of upgrading the business operations aimed at maximizing the efficiency of delivery processes available to firms. This changed scenario has not only raised the hopes of millions of stakeholders but also brought to the fore many vital issues of concern. The overall outcome of these changed trends has been captured in the current issue with business efficiency as the central idea to the whole gamut of organizational development.

Noting the fact that the healthcare industry in European countries like Italy is capable of generating a huge share of GDP through increased bandwidth of operations, one has to understand the deep implications of this scenario from a public welfare point of view. Whether it is public or private medicare, no distinction can be made in terms of achieving economic welfare of citizens keeping in view the rising cost of healthcare services. The first paper, “Pros and Cons of Fast-Track Process: A Case Study”, by Cristina Ciartano and Francesco Lanfranchi, attempts a cost-benefit analysis of public and private sector expenditure by raising the bar of expectations in terms of government’s role in streamlining the processes.

The critical objective behind measuring the financial performance of a company is to carefully articulate a new vision document in terms of increasing the business efficiency through various means. As such, the second paper, “Performance Measurement Through Ratio Analysis: The Case of Indian Hotel Company Ltd.”, by Sanghani Divyesh Damjibhai, strikes a balance between perception and reality in terms of understanding the framework of financial statement analysis being followed in recent times. Using the popular ratio analysis as the tool of study, the paper assumes wider significance in making it clear that the effective utilization of fixed assets and total assets ultimately leads to upgradation of profits of Indian Hotel Company Ltd.

Given the fact that the successful marketing of products depends to a large extent on the advertising strategies adopted by the firm, the expenditures naturally are high in this direction. Specially, in the FMCG sector, the element of cut-throat competition has severely impacted the budget allocations, leading to huge cost on the exchequer. As such, examining the advertising efficiency in Indian markets is the need of the hour, and the third paper, “Advertising Media Efficiency of FMCG Firms in India: An Empirical Investigation Using Data Envelopment Analysis”, by Hezekiah, Lalitha Ramakhrishnan and Majid Shaban, significantly deals with the subject with good statistical analysis of input-output adjustments.

Attempt to recognize, reward and promote the meritorious performance of employees, be it public or private sector organizations, occupies the prime attention of most of the HR professionals today as that alone ensures talent retention amidst huge temptations in the job market. The scale of comparison between public and private enterprises in this regard is a serious issue of concern and many scholars are working in this direction. The last paper, “Analyzing the Performance Appraisal System of a Public Sector Organization in India: The Case of Rajasthan State Mines and Minerals Limited”, by Vineet Chouhan, Bibhas Chandra, Shubham Goswami and Pushpa Verma, tries to analyze the basic issues involved in the transformation of traditional performance appraisal system to that of a transparent and accountable mechanism, wherein the concerns of key stakeholders are given due weightage.

The issue also includes a review of the pioneering autobiographical work by the former president of India, A P J Abdul Kalam. Adding value to the fabric of self-development discourses A P J Abdul Kalam’s autobiography, My Journey: Transforming Dreams into Actions, is a rare blend of scientific temperaments and religious-philosophical doctrines experienced by him. The critical review by Laxman D Satya is an attempt to unravel the hidden dimensions of Abdul Kalam’s intellectual pursuit of various endeavors relating to life and profession. It captures ‘self-management’ as the essential trait of successful enterprising of modern times. The review can also be seen as a form of paying tributes to the People’s President of India who made a mark in the annals of post-independent history.

--Radha Mohan Chebolu
Consulting Editor