AN ECONOMIC ANALYSIS OF B.E.S.T. IN MUMBAI WITH SPECIAL REFERENCE TO PHYSICAL AND FINANCIAL PERFORMANCE FOR SUSTAINABLE BUSINESS

Topic Name:

AN ECONOMIC ANALYSIS OF B.E.S.T. IN MUMBAI WITH SPECIAL REFERENCE TO PHYSICAL AND FINANCIAL PERFORMANCE FOR SUSTAINABLE BUSINESS

Objectives

1. Analyze and Address the Operational Challenges of B.E.S.T.:
                   To identify and evaluate the key physical and financial challenges faced by B.E.S.T. in its day-to-day operations, leading to performance decline and financial losses.

1. Examine the Impact of Increased Traffic on Public Transport:
                   To investigate the effects of rising private vehicle usage on road congestion, pollution, and overall passenger safety, and recommend solutions for improving the public transport system.

1. Assess the Efficiency of B.E.S.T.’s Operational Model and find solutions to optimize performance:
                   To study and measure the physical efficiency of B.E.S.T.’s operations, including fleet management, routes, and schedule adherence, to optimize performance using possible ICT-based Model:

1. Evaluate the Financial Sustainability of B.E.S.T.:
                   To analyze the financial performance of B.E.S.T., identifying areas for cost reduction, revenue enhancement, and long-term financial sustainability.

1. Propose Policy and Strategic Recommendations for Sustainable Operations:
                    To develop actionable policy guidelines and strategic recommendations to improve B.E.S.T.’s operations, reduce congestion, and enhance passenger movement, contributing to long-term sustainability and better public transport service.

Issues-

• Rising operational costs (fuel, wages, maintenance).
• Low fare recovery and increasing losses.
• Policy gaps in integration with other modes of public transport.
• Aging fleet and maintenance issues.
• Inadequate or outdated technology for operations and monitoring.
• Poor route optimization leads to inefficiency.
• Workforce-related challenges such as lack of training or overstaffing in certain areas.
• Inefficient scheduling and route planning.
• Low utilization of fleet capacity.
• Limited avenues for additional revenue generation (e.g., advertising or partnerships).
• Subsidy dependency and budgetary constraints.
• Weak financial forecasting and investment planning.

 

Team Lead-

Name -Dr. Mahendra Parihar

Email ID- mahendra.parihar@nmims.edu

 

Team Members

Name- Dr. Abhishek Kumar Sinha

Email ID- abhishekkumar.sinha@nmims.edu

Name- Awaited

Email ID-Awaited