IMPACT OF FREEZING OF FCAS: THE CASE OF PAKISTAN
►Hafiz Abdur Rashid, Ali Raza, Syed Usman Izhar and Muhammad Waqas Baig
Foreign investment and foreign exchange reserves have ample importance for developing countries. So, there is a needed to encourage the foreign and domestic investors whose confidence was suffer by the unexpected decision of freezing of FCAs. The purpose of this study was to identify the areas that were affected after the decision of freezing of FCAs. Moreover, the impact of freezing decision on economy of Pakistan also indicated. More sophisticated impact on banking sector, balance of payment, foreign exchange reserves, foreign debt, and foreign investment. Study found the negative impact of freezing decision of FCAs on foreign banking and positive impact on domestic banking but Pakistan banking sector was disconnected from the international banking; insatiability in balance of payment was increased; the foreign investment and exports was reduced. Resultantly, foreign exchange reserves were reduced and foreign exchange rates was increased. Therefore, it is suggested to increase the confidence of foreign investors in order to increase the foreign investment and foreign exchange reserves. Discussion of conclusions and recommendations were also provided.
Keywords: FCAs, foreign exchange reserves, balance of payment, foreign investment and debt, & Pakistan
TRANSFER PRICING FOR COORDINATION AND PROFIT ALLOCATION
►Jan Thomas Martini
This paper examines coordination and profit allocation in a profit-center organization using a single transfer price. The model includes compensations, taxes, and minority interests of two divisions deciding on capacity and sales. The analysis covers arm’s length transfer prices which are either administered by central management or negotiated by the divisions. Administered transfer prices refer to past transactions and therefore maximize firm-wide profit net of divisional compensations, taxes, and minority profit shares only for given decentralized decisions. From an ex-ante perspective, it is shown that adverse effects on coordination may result in inefficient divisional profits of which all stakeholders suffer. We motivate a positive effect of advance pricing agreements, intra-firm guidelines, and restrictive treatments of changes in the firm’s accounting policy. By contrast, negotiations ignore compensations, taxes, and minority shares but yield efficient divisional profits. Negotiations seem compelling as they perfectly reflect the arm’s length principle. Moreover, common practices such as arbitration or one-step pricing schemes allow the firm to engage in manipulation at the expense of other stakeholders.
Keywords: Transfer Pricing, Coordination, Profit Allocation, Managerial Accounting, Taxation, Financial Reporting.
EXPORT POTENTIAL OF SILVER FIBER AND ITS IMPACT ON FOREIGN EXCHANGE EARNING IN PAKISTAN FROM 1995-96 to 2004-05 A CASE STUDY OF SINDH
►Muhammad Bachal Jamali, Nanik Ram and Imamuddin Khoso
The study is aimed at the investigation of trade implications for Pakistan in the milieu of globalisation. To this end, it examines the nature and application of WTO and identifies its operative tariff and non-tariff instruments. By doing so, it intends to trace out the place of Pakistan in the world market in comparison to its competitors. The study concludes that the pattern of trade preferences and WTO grants do not necessarily guarantee success in the export performance of the recipients. Similarly, various other demand and supply side factors also play an important role in this regard. Nevertheless, the main focus of the study remained on the investigation of trade implications of WTO for Pakistan’s Cotton exports and impact of EU enlargement on Cotton sector of Pakistan. The examination of comparative trade statistics denotes that Pakistan has been one of the leading trading partners of Cotton products for the world and proved to be a forefront supplier of selected Cotton items over the period under review. Although Pakistan’s export performance has been adequate in comparison to its competitors but still it needs to be accelerated
Keywords: export, silver fiber, foreign exchange earning, cotton
IMPACT ANALYSIS OF HEC- BASED TRAINING PROGRAMS ON THE PERFORMANCE OF THE UNIVERSITY TEACHERS IN PAKISTAN
►Khalid Hussain Shaikh, Ikhtiar Ahmed Ghumro, Asif Ali Shah, Faiz M. Shaikh and Tahira Afridi
The current research investigates the HEC based training for the University teachers in Pakistan and its impact on the performance on University teachers. The Higher Education Commission (HEC) in Pakistan seeks to improve the quality of teaching by University teachers. The Commission has initiated different forms of training according to the areas of expertise in order to improve skills and impact on the performance of University teachers. HEC based training plays a crucial role in the personal development among the University Teachers in Pakistan. Survey was conducted from 200 University teachers who have recently got training from HEC skill development or professional development training from HEC from all provinces. Structural questionnaire was design for reliability and accuracy the data. Analysis and evaluation was done by using GENSTAT statistical software. Major findings of the study showed that training should be provided according to discipline and more interactive training should be design for the University teachers. It was revealed that HEC based training not only equipped with knowledge but also improving the confidence level of the University teacher. Moreover due to the government policies, rules and regulations, such as introduction of the Tenure Track System, the and hiring the foreign faculty in various all Public sector universities it also has impact on the performance of students in job market. It revealed that teacher training was beneficial for professional development as well as for teaching performance. It also suggested that improved knowledge, skills and attitudes was necessary for the teacher aides to support the teaching program and facilitate learning and communication. It was further revealed that effective teacher aides required competencies in broad areas of human relations, instructional activities, non-instructional activities, and basic skills. The study concluded that basic and advanced level training is necessary for future training programs in Pakistan and 190 respondents responded to the questionnaires, by producing 95.0% response rate. Among which 70 % were male respondents and 30% were female respondents
Keywords: Impact, Training, Development, Performance, University Teachers
PROBLEMS OF PROJECTS AND EFFECTS OF DELAYS IN THE CONSTRUCTION INDUSTRY OF PAKISTAN
►M. Haseeb, Xinhai-Lu, Aneesa Bibi, Maloof-ud-Dyian and Wahab Rabbani
The problem of project delays is a fact that occurs mostly in construction industry of Pakistan. Delays are always measured as expensive to all parties concerned in the projects and very often it will result in clash, claims, total desertion and much difficult for the feasibility and it slows the growth of construction sector. For analyzing the causes of delay, an appraisal on construction project’s time performance was conducted. The main objective of this study is the identification of factors of delay and their effects on the success and completion of project. The most common factor of delay are natural disaster in Pakistan like flood and earthquake and some others like financial and payment problems, improper planning, poor site management, insufficient experience, shortage of materials and equipment etc. This paper covers the delay factors and causes of delay and some suggestion for reducing these delays in large construction projects in Pakistan.
Keywords: Construction delays, Causes of delays, Effects of delay, construction projects, Pakistan
THE EFFECTIVENESS OF CORPORATE BRANDING STRATEGY IN MULTI-BUSINESS COMPANIES
►Masume Hosseinzadeh Shahri
Is your corporate branding strategy effective? This paper presents a triple-dimension model for the assessment of the effectiveness of corporate branding strategy as a strategic decision in an organization: multiple stakeholders' reliance, financial value and strategic position. The elements of the model are based on information obtained from literature review and structured interview with specialists in strategic management and marketing and some multi-business companies' managers. A questionnaire and confirmatory factor analysis (CFA) have been used to validate the measurement. Assessing the three dimensions (multiple stakeholders' reliance, financial value and strategic position) and integrating them into a scheme enable CEOs to understand whether their corporate branding strategy is effective.
Keywords: Multi-business companies, Effectiveness of corporate branding strategy, Multiple stakeholders' reliance, Financial value, Strategic position.
CRISIS LEADERSHIP - AN ORGANIZATIONAL OPPORTUNITY
►James E. Prewitt, Richard Weil and Anthony Q. McClure, MS
Reactive leadership and crisis management have been synonymous for years. This flows from the belief that crisis is unpredictable and unexpected, which is simply not true. Crisis has its genesis in the values, beliefs, culture, or behavior of an organization which become incongruent with the milieu in which the organization operates. A leader, who is able to read the signals of looming crisis and understands how to harness the exigency brought on by the situation, can diminish the potential dangers and take full advantage of the resulting opportunities. This paper presents a generic crisis lifecycle as a representation of overall crisis. Since a crisis can be broken down into three unique phases, crisis lifecycles can be understood and utilized for the benefit of the organization. In the first phase of the lifecycle, the organization finds itself mired in a static phase which equates to a comfort zone. In this first phase leaders struggle when they attempt to introduce change or learning due to the organizations preference to avoid conflict and maintain stasis. When a crisis engulfs an organization then the stasis that envelops the organization evaporates and gives rise to the second phase or the disaster phase. The disaster phase often threatens the very existence of the organization. When the organization successfully eliminates the immediate organizational threat, the organization is able to enter the adjustive phase of the crisis lifecycle. In this third phase, the leader has the undivided attention of the organization and the underlying urgency to solve the issues that led to the crisis in the first place. Regrettably, many leaders don’t take advantage of this golden opportunity and push the organization back toward the status-quo which ensures that the crisis will return in force. The study of crisis leadership has become more important since the dawn of the new millennium because leaders in all areas face differing degrees of crisis in their daily work life. This emphasis on crisis leadership has spawned many books and academic journal articles which has resulted in a wide-ranging body of work from which we have divined the three stages of crisis and six strategies crucial for organizational success. These strategies are illustrated with examples of crisis leadership and how leaders saved their organization and tailored them for long-term significance.
Keywords: leadership, management, looming crisis, status-quo
SYMBOLIC AND FUNCTIONAL BRAND EFFECTS FOR MARKET SEGMENTATION
►Kevin Kuan-Shun Chiu, Ru-Jen Lin, Maxwell K. Hsu and Shih-Chih Chen
This study investigates the interrelationships among brand personality, brand preference, customer perceived value, and golfers’ performance in the context of Taiwan’s golf clubs market. The theoretical and statistical relationships among these constructs are developed and verified. Using survey data from 345 out of 1,000 randomly selected golfers, this study employs ANOVA, Factor Analysis, and Discriminant Analysis to examine the research hypotheses. The findings reveal that (1) notable brand personality factors including Reliability, Fashion, Masculine, Excitement, Wholesome, Leadership, Sentiment, Feminine, and Uniqueness could explain brand preference to a large extent, (2) golfers’ customer perceived value regarding various golf brands are considerably dissimilar, and (3) golfers’ deviation in performance significantly relates to brands. In addition to conventional bases for market segmentation (i.e., demographics, psychographics, lifestyles, etc.), this paper clearly provides practical guidelines of implementing brand personality for market segmentation and promotion strategies. Brand personality proves to be a useful segmenting variable. The findings and the statistical results offer supportive evidence for implementing appropriate branding management on both functional (i.e., customer perceived value and performance) and emotional attributes (i.e., brand personality) in order to enhance competitiveness.
Keywords: Brand Personality, Brand Preference, Market Segmentation, Customer Perceived Value, Golfer’s performance.
THE EFFECT OF WEB VENDOR TRUST ON TURKISH ONLINE SHOPPERS BUYING BEHAVIOR
►Tolon Metehan and Zengin Asude Yasemin
Firms’ primary objectives are gaining profit and providing continuity. During the recent years virtual platforms are the most popular and strategic way to achieve these objectives. According to this, firms try find different markets to improve their market share as well as their profits. From this point of view increase in sales at virtual platform depends on customers’ trust upon total online system in the related market. In order to create customer loyalty at virtual platform, firms must build trust between firm and customer. For this purpose, it is of strategic importance for e-commerce to create trust among their customers. At this point, firms have to determine trust and perceived risk related to online shopping. Especially firms which want to operate in internet have to analyze trust dimensions and risk perceptions of customers in related online shopping. In this study, the effect of the trust and perceived risk of Turkish customers over online purchase behavior/online shopping has been presented empirically.
Keywords: Online Shopping, Trust, Perceived Risk
THE SURVEY OF RELATIONSHIP BETWEEN CREATIVITY OF STAFFS AND ORGANIZATIONAL EFFECTIVENESS
(Case study of: The East Azarbaijan province and Ardebil Province Education)
Afshin Rahnama, Seyed Javad Mousavian, Abbas Alaei and Tavakkol Salimi Maghvan
The main objective of this research was to investigate the relationship between employee creativity and organizational effectiveness in educational organizations of East Azerbaijan and Ardabil provinces. This investigation was an applied research using a descriptive methodology with correlation tests. The statistical population for this research included all employees of East Azerbaijan and Ardabil provinces in 2010, comprising 45 and 19 departments, respectively, or a total of 64 departments. Using Morgan table for estimation of sample size, and according to random sampling method, 56 departments (29 and 17 departments, respectively) with 297 employees (179 and 118 employees, respectively) were selected, and were tested using simple random technique. Data collection was performed using two questionnaires, for which validity and reliability testing had been performed previously. The creativity questionnaire was filled by organizational employees, while the organizational effectiveness questionnaire was filled by executives of educational departments. In this research, according to the objectives of the research, descriptive statistics was used for creation of frequency tables and charts and computation of suitable central indices, while the study hypothesis was tested using Pearson’s correlation test. The results of this investigation showed that there is a statistically significant relationship between employee creativity and organizational effectiveness in educational departments of East Azerbaijan and Ardabil provinces (p < 0.05).
Keywords: creativity, organizational effectiveness, Department of Education, employees
IMPACT OF CASE STUDY METHOD OF TEACHING ON THE JOB PERFORMANCE OF BUSINESS GRADUATES, IN THE CASE OF BUSINESS ADMINISTRATION DEPARTMENT IBA-UNIVERSITY OF SINDH-JAMSHORO,
►Anwar Ali Shah G.Syed, Khalid Hussain Shaikh, Syed Abir Hassan Naqvi and Faiz M.Shaikh
The study was conducted on business graduates of IBA-University of Sindh-Jamshoro. A complementary survey was conducted from 50 organizations in Sindh province by using simple random technique, and 200 sample size were selected from student data set. The results showed that case analysis method increasing the vision and understanding the subject as well as practical exposure of the different organizations and it also impact on the personal development of the student when they are solving they different cases in different situations for firm or organization. From last couple of years this method is pretty popular among the students, and they applied all the case studies in local environment and teachers are importing the quality of the education by employing different case studies and their practical touches of different cases. It also helps the graduates when they are going for the jobs, and it has the positive relationship with the job performance. Case studies improving the vision of the business students.
Keywords: Case study, Method, Job Performance, Business education
COMPARISON OF PERFORMANCE OF MICROFINANCE INSTITUTIONS WITH COMMERCIAL BANKS IN INDIA
►Zohra Bi and Shyam Lal Dev Pandey
Microfinance in India has been viewed as a development tool which would alleviate poverty and enhance growth of the country through financial inclusion. Out of 6 lakh villages in India, only approximately 50000 have access to finance. India is a country which has the highest number of households which are excluded from banking. With the Andhra crisis of microfinance institutions and issues that microfinance institutions have a mission drift, the aim of the paper is to study the performance and efficiency of microfinance. A sample of microfinance institutions in India have been selected based on their ratings given by microfinance information exchange (MIX) for the study. The performance of these sample MFIs as well as their performance with respect to commercial banks in India have been studied using statistically tools. A microfinance institution is measured for financial sustainability based on its good financial accounts and the recognized accounting practices they follow according to Meyer (2002). Data for the microfinance institutions have been collected from Microfinance information exchange (MIX) where few of the MFIs have started reported their financial data. The MIX has classified the MFIs based on various parameters such as level of disclosure, financial parameters etc and rated them accordingly. Out of the 88 MFIs in India reported on MIX, 24 MFIs are taken as samples, these samples taken were five star rated by MIX. The financial parameters of these MFIs are studied and compared with the financial parameters of commercial banks and their financial performance can be analyzed. The various parameters taken for analyzing the financial performance of MFIs and banks include: Financial structure, Profitability and Efficiency.
Keywords: Microfinance, financial inclusion, MFIs, MIX, Financial structure, Profitability, Efficiency
ONLINE ADVERTISING DEVELOPMENT AND THEIR ECONOMIC EFFECTIVENESS
Recent years are a testimony to the astonishing development of the Internet, an increasingly important factor in current lifestyle. Internet advertising, as well, has seen a similar development, since marketers' online advertising budgets are growing as the years go by. In this study, I passed questionnaires to Israeli businesses and checked whether there is a difference in efficiency between two of the following types of online advertisement: banner advertisement and pop-up advertisement. I also characterized the respondents with respect to their preferred type of advertisement. The results of the latter showed that the number of clickers on banner advertisement is higher than that of pop-up advertisement, and that its efficiency rates are higher as well. In addition, the characterization of advertisers gave that the probability to advertise a banner advertisement is higher if the manager is either a female, married, older than 40 and employed in the construction, Car Dealership or wedding industry.
Keywords: Pop Up, Banner, Advertising Budget, Internet, Marketer.
FINANCIAL PREFERENCES OF LISTED FIRMS IN EMERGING MARKET: THEORY AND PRACTICE IN THE CASE OF THAILAND
►Suveera Srijaroen and Jun Jiang
The study aims to identify the determinants of Thai listed firms’ capital structure using derived theoretical-based models from CAPM and Hamada equations, which incorporate the control variables, i.e. company’s operating performance and capital size, with time-invariant and random effects, for improving the explanatory power of the model. The empirical test employs the quarterly data covering the year 2006 to 2010 from the Stock Exchange of Thailand. The results showed that the tax shield and industry classification explicitly demonstrate material relevance to the alteration of the firm’s degree of financial leverage. The results also showed that the fixed assets merely exert moderate influences on the firm’s willingness to implement a policy of increasing financial leverage. Conclusively, none other relevant factors possess a significant impact on the choice of capital structure, in the case of Thailand.
Keywords: Capital Structure; tax shield; financial leverage
THE ROLE OF LOYALTY DIMENSIONS IN CUSTOMER ORIENTATION PROCESS FOR NEW ENTERPRISES IN TOURISM INDUSTRIES OF IRAN
►Mohammad Taleghani, Esmaeil Rajabi Choobeh and Seyyed Javad Mousavian
Many of tourism companies use internet websites as an important tool for marketing and sale of products or offering their services. To offer tourism services through internet successfully, it must be highly reliable and safe. The aim of this research is to study on effective factors on trust, satisfaction and loyalty of customers. In this research one structural equation modeling method has been used that investigate on relationships between external variables (efficiency and usability of transportation and transfer of products, security and transaction costs) and mediator and effective variables (trust and satisfaction) and also loyalty which are as a dependent variable. The results show that efficiency and high capability for transportation, transfer, expenses and security has a positive effect on the rate of trust in customers, which on the other hand, has affected loyalty of the customer as well. These results and findings show that satisfaction of the customers affects their trust which will have a significant role in formation of loyalty in customers and continuity of online shopping of tourism products and services.
Keywords: Trust, Satisfaction, Loyalty, Electronic Services, Tourism Industry
ADVERTISEMENT & ISLAM: A MUSLIM WORLD PERSPECTIVE
►Adeel Bari and Rana Zamin Abbas
Contemporary advertisement practices have created many social and ethical problems due to their materialistic focus. The effect of these problems can also be seen in many Muslim countries including Pakistan in terms of diversion from their cultural and religious values. This paper attempts to integrate the Islamic business ethics in contemporary advertisement practices to find the solution of the ethical dilemma which is created by these materialistic advertisement practices. The focus of Islamic way of business is not just to earn profit but to serve the society. The human welfare is the gist of Islamic business ethics. This paper attempts to evaluate advertisement in terms of Quran and Hadiths of the Holy Prophet (PBUM) and discuss unethical aspects of the contemporary advertisement practices.
Keywords: Advertisement, Islamic Business ethics, Quran, Hadith
UNIVERSALISTIC APRROACH ON THE JOB SHOP MAKE-TO-ORDER OPERATIONS
►Mohd Shaladdin Muda
Majority of research into the World Class Manufacturing (WCM) has taken a universalistic approach and has developed general models covering all aspects of manufacturing management. Whilst there has been some research that suggests that appropriate best practice procedures are contingent upon company type, none of this research has tried to develop a detailed WCM model for the make to order (MTO) sector. Given the complex nature of the MTO sector, it could be argued that it is necessary to build a WCM model for the MTO sector initially.
Keywords: World Class Manufacturing, Make to order
A COMPARISON OF MOTIVATION LEVEL OF POST GRADUATE STUDENTS AT UNIVERSITY OF SINDH JAMSHORO
►Muhammad Bachal Jamali, Nanik Ram, Khalid Hussain Shaikh and Faiz M.Shaikh
This research investigates the A Comparison of Motivation Level of Post Graduate Students in Different Departments at University of Sindh Jamshoro. Data were collected The population consisted of all student teachers at post graduate level in the Institute of Education and Research, University of Sindh-Jamshoro Pakistan. Random sampling technique was used to select sample of the study. Sample of this study comprises of both male and female student teachers of the various departments of University of Sindh-Jamshoro. Departments included in the sample were also selected randomly. The data was collected from 160 morning and evening students of Masters in Educational Research and Assessment (MERA), Masters in Education (M.Ed.), Masters in Science Education (MS.Ed. ), and Masters in Technology Education (MTE) programs. It was revealed that Mostly students are motivated because teaching provides them an opportunity to impart knowledge and to be a positive role model for children. It also offers an opportunity for career development and can easily lead a teacher to other careers too. Some people are motivated because they think teaching is a good job for them as it gives an immediate feed back about the effectiveness of performance.
Keywords: Comparison, Motivation Level, Post Graduate, University of Sindh