PROJECT MANAGEMENT PRACTICE IN NIGERIAN PUBLIC SECTOR – AN EMPIRICAL STUDY
►OLATEJU, Olawale I., ABDUL-AZEEZ, Ibraheem A. and ALAMUTU, Salimonu A.
The application of Project Management (PM) tools and techniques in public sector is gradually becoming an important issue in developing economies, especially in a country like Nigeria where projects of different size and structures are undertaken. The paper examined the application of the project management practice in public sector in Nigeria. The PM Lifecycles, tools and techniques were presented. The study was carried out in Lagos because of its metropolitan nature and rapidly growing economy. Twenty three copies of questionnaire were administered to 23 public institutions in Lagos to generate primary data. The descriptive analysis techniques using percentages and table presentations coupled with coefficient of correlation were used for data analysis. The study revealed that application of PM tools and techniques is an essential management approach that tends to achieve specified objectives within specific time and budget limits through optimum use of resources. Furthermore the study noted that there is lack of in-depth knowledge of PM tools and techniques in public sector institutions sampled, also high cost of application was also observed by the respondents. The study recommended among others that PM tools and techniques should be applied gradually especially in old government institutions where resistance to change is perceived to be high.
Keywords: Project Management, Public sector, Practice, Nigeria
INTERNAL FINANCIAL CONSTRAINTS, EXTERNAL FINANCIAL CONSTRAINTS AND INVESTMENT CHOICE: EVIDENCE FROM PAKISTANI FIRMS
►Muhammad AZAM and Syed Anum SHAH
The purpose of this study is to analyze the impact of internal and external financial constraints on investment choice. The data have been taken from 9 major sectors (52 listed firms in the Karachi Stock Exchange) namely; Pharmaceutical & Bio Technology, Textile, Sugar, Tobacco, Chemicals, Oil and Gas, Fixed line Telecommunication, Industrial metal and Mining, and Cement sectors for the time period 2004 to 2010 on annual basis. Multiple regression analysis has been done to examine the relationship among firm’s size, dividend payout ratio, firm’s age, and investment. The empirical findings show that there is positive relationship between the firms’ size and investment while a negative relationship exists between firms’ age and investment. It also reports that there is negative relationship between dividend payout ratio and the investment. This shows that if a firm grows old or high dividend payout ratio then it will tend to spend less for expansion as compared to the young firms.
Key Words: Internal Financial Constraints, External Financial Constraints, and Investment
CONCEPTUAL AND OPERATIONAL DIFFERENCES BETWEEN GENERAL TAKAFUL AND CONVENTIONAL INSURANCE
►Mher Mushtaq Hussain and Ahmad Tisman Pasha
Insurance in Islam is essentially a concept of mutual help. Insurance business under conventional system is based on uncertainty, which is prohibited in Islamic society under Islamic principles. So there is need to clear the difference between the conventional insurance and the Islamic insurance. A rich literature also describes such differences but the present article addresses the differences based on conceptual and operational framework.
Keywords: Aqilah; Maisir; Mudarabah; Mudarabah Model; Tabarru; Takaful; Wakalah Model; Wakalah Waqf Model.
A CONCEPTUAL MODEL TO UNDERSTAND THE EFFECTS OF PERCEPTION ON THE CONTINUANCE INTENTION IN FACEBOOK
►Shih-Chih Chen, Huei-Huang Chen, Mei-Tzu Lin and Yu-Bei Chen
Recently, the social networking applications expand rapidly and attract a lot of users in a short time period. This study attempts to develop a conceptual model to understand the continuance intention in the context of social networking. The conceptual model integrates the post-acceptance model of information system continuance with perceived ease-of-use and perceived usefulness proposed by Bhattacherjee (2001a) and Davis (1989), respectively. In the proposed model, continuance intention is influenced by the relationship quality and information system quality. Additionally, nine propositions are developed based the proposed model and literature review. Finally, conclusions, managerial implications, and future direction of research are also provided.
Keywords: Post-acceptance Model, Perceived Ease-of-use, Perceived Usefulness, Social Networking
NETWORK CLASSIFICATION ON THE BASIS OF FUNCTIONS THEY PERFORM AND ITS RELATIONSHIP WITH INTERNATIONALIZATION PROCESS OF SMEs IN DEVELOPING COUNTRIES---exploratory research on Pakistan
►Seerat Fatima, Mujahid Ali and Sheraz Arif
The purpose of this study is to classify the networks according to functions they performed, especially scrutinize their structures. The research concentrates on the influence of these functional networks on the internationalization process of small and medium sized companies (SME) in developing countries. What are the different types of support being provided by network partners? What is the structure of the existing network? The research part is inductive, qualitative and based on case study. The study’s findings illustrate the subtleties of how various network partners interact with entrepreneurs to penetrate, integrate and extend their international markets. Networks can help entrepreneurs expose themselves to new opportunities, obtain knowledge, learn from experiences, and benefit from the synergistic effect of pooled resources. Another contribution of this paper is that it identifies structures of the functional networks, till date networks are classified on the basis of extent of support they provide, not on what support they provide, thus advancing the literature.
Keywords: network classification, internationalization process, developing countries, case study, functional network structure, small & medium sized companies, social capital, Pakistan
EFFECTS OF BUSINESS COMBINATION ON FINANCIAL PERFORMANCE: EVIDENCE FROM PAKISTAN’S BANKING SECTOR
►Rehana Kouser and Irum Saba
This contemporary study addresses the mergers and acquisitions (M&A) and provides insight to the impacts of M&A. It explores the effects of merger on profitability of the bank by using six different financial ratios. We have selected 10 commercial banks that faced M&A during the period from 1999 to 2010. The lists of banks were selected from the Karachi Stock Exchange (KSE). Quantitative data analysis techniques are used for inference. Data were collected from the annual reports of the sample banks for the period of six years (three years before the combination and three after). Analysis was done by using paired t-test. Study concluded that our all alternate hypothesis are rejected because. The results recommend that operating financial performance of all commercial bank’s M&A included in the sample from banking industry had declined later. The results shows that there is a decline in all 6 ratios: profitability ratios, return on net worth ratios, invested capital, and debt to equity ratios. We can argue that increased performance after M&A is not necessary and it varies with contextual factors.
Keywords: Mergers, Acquisitions, Financial Performance, Banking, Pakistan,
IMPACT OF SUPPORTIVE LEADERSHIP AND ORGANIZATIONAL LEARNING CULTURE AS A MODERATOR ON THE RELATIONSHIP OF PSYCHOLOGICAL EMPOWERMENT AND ORGANIZATIONAL COMMITMENT
►Syed Abir Hassan Naqvi, Muhammad Aamir Hashmi, Shaoukat Ali Raza, Ashi Zeeshan and Faiz.M.Shaikh
Due to forces of globalization organization are going to multinational. Severity of competition is forcing organizations to psychological empower their employees for maximum performance. In the presence of organizational learning culture and supportive leadership psychological empowerment of employee will lead to organizational commitment. This paper attempt to analyze the relationship among these variables in the context of existing literature. Present days managers face the challenges of motivating employees. Psychological empowerment is the one of the best tool to provide them felling of autonomy and self drive this conceptual development is presented here with the hope that future researchers will analysis these relationships more deeply for the performance optimization of the organization.
Keywords: Organizational Commitment; Psychological Empowerment; Organizational learning culture; Supportive leadership
DIVIDEND ANNOUNCEMENTS AND THE ABNORMAL STOCK RETURNS FOR THE EVENT FIRM AND ITS RIVALS
Muhammad Aamir and Syed Zullfiqar Ali Shah
Impact of dividend announcement on stock prices is pronounced in various studies conducted by various researchers. Event study has been conducted in this paper on 26 announcements and the firms were belonging to cement and oil and gas sector of Pakistan. In this study data span of 2004-2008 has been covered. Impact of dividend announcement on stock prices of event and rival firms has been analysed and it has been found that dividend announcement depicts positive impact on share prices of the companies at the time of announcement as well as immediately after such announcements. Performance of event firms has been evaluated in comparison with its rival firms in this study in order to give better understanding of dividend announcement effect on the financial health of the companies. Overall, our results robust the findings of earlier research and as per theoretical background of the study. Our conclusion explains the significance of t-statistics values during this study.
Keywords: dividend, stock prices, cement, oil, gas, performance, t-statistics
APPLICATION OF ROVIS IN HUMAN RESOURCE APPLICATION IN THE GULF REGION
►Peeyush Tewari and Boby George Jacob
Decision making in many situation is a critical factor in growth and sustainment for any national or international business situations. In this paper we conceptualize a new theory names as ROVIS which can be applied as a new business concept for decision making, which can be universally applied to all management related spheres. The concept focuses on thought - rationalization before even considering the thought as a decision. It interprets the Critical X Factor or the Critical Success Factor and then employs optimization models to maximize the chances of success. The Critical X Factor is converted as the Optimal Decision Model to maximize success conditions. Then using the surrounding environment and the risk factors involved one can identify the critical success factor(s) and develop it to the maximum level to achieve surety of success which is predetermined which is optimization stage. Then the developed success factor is re-employed in the process and tested in simulated conditions replicating the actual environment and risk factors and then verified to see if the critical success factor(s) produces the desired results otherwise we incase of a deviation from the desired level of success due the unsatisfactory performance of the identified critical success factor(s). Then the factor(s) is subjected to further improvement and development and retested until desired results are achieved. Once the desired results are achieved in simulated environment the critical success factors are now subjected to actual environment with actual risks. Based on their performance in real conditions, the results of the satisfaction are evaluated and compared against the computed results of the simulated environment (replicating the actual environment & risks) keeping in mind that the difference of the results cannot exceed the accepted tolerance level which attributes to the instability of the economy or uncontrollable factors bringing results within the tolerance levels. The ROVIS theory also emphasizes making the right decision at the right time in the right situation which would minimize over-spending occurring out of short-sighted business decisions or irregularities in decision making. Though industries vary in operational level, we find that, the ROVIS Theory is definitely a evolving management concept which focuses on strategic thinking through rationalized approach and can be a universally acceptable role model in all industries globally. A brief example explains the usability of this theory in the Gulf Business environment.
Keywords: Decision making, ROVIS, Critical Factor,
COMPARATIVE ANALYSIS OF COMPUTER SOFTWARE AND BRAILLE LITERACY TO EDUCATE STUDENTS HAVING VISUAL IMPAIRMENT
►Ismat Bano, Syed Abir Hassan Naqvi, Muhammad Aamir Hashmi, Shaoukat Ali Raza and Faiz.M.Shaikh
This research investigates the comparative analysis of computer software and Braille literacy to educate students having visual impairment. The main objective of this research focus on compare the feasibility and usage of Braille literacy and computer software to educate children with visual impairment. Main objectives of the study were to identify the importance of Braille and Computer literacy by the perceptions of male and female students with visual impairment, to identify the importance of the Braille and Computer literacy in different classes of students with visual impairment and to identify the difference of Braille and Computer literacy importance in different schools of students with visual impairment. Five special education institutions were selected where students with visual impairment were studying. A convenient sample of 100 students was taken from these schools. A three point rating scale was used as research instrument. Researchers personally collected data from the respondents. Data was analyzed through SPSS. Major findings showed that students were more interested in Braille system than computer software. Braille system and required material was resent in all the schools while computer teachers with required experience were not available in these institutions. Teachers were found expert in Braille literacy as compare to the computer software- It was recommended that proper awareness about most recent technologies were necessary for teachers in special education institutions. Students as well as teachers should be provided chances of hands on practice to create interest in computer software use in special education.
Key words: Braille Literacy, Computer software, Visual impairment. Computer in special education
ENTREPRENEURSHIP DEVELOPMENT AND EMPLOYMENT IN JACOBABAD- SINDH-PAKISTAN
►Muhammad Aamir Hashmi, Hassan Jawad Soomro, Asif Ali Shah, Syed Abir Hassan Naqvi and FAIZ.M.SHAIKH
This research investigates the entrepreneurship development and employment in Jacobabad. Data were collected from 2000 respondents from Jacobabad and their vicinity. A structural questionnaire was developed for the reliability and validity of the data. It was revealed that Jacobabad is facing unemployment problems like other states of Pakistan. The number of population increases every year but the state government cannot provide jobs to all the citizens. Unemployment gives different negative impact to the state economy in particular and the country economy in general. However, government had taken up various measures to reduce unemployment problems but it increases rather than minimising it. It was further revealed that only 3.13 percent out of total population who got employment in the state private and public sectors. This shows that the total number of employments in the state is very less. The result may be due to various factors but it is clearly concluded that the getting employment in Jacobabad- Sindh-Pakistan is a problematic issue that hinder the growth of state economy.
Keywords: Entrepreneurship, Development, SMEs, Jacobabad
PROBLEMS FACED BY THE POULTRY INDUSTRY IN PAKISTAN
►Muhammad Bachal Jamali, Hassan Jawad Soomro, Ali Hassan Halepoto, Muhammad Amir Hashmi and Faiz.M.Shaikh
This research investigates the problems faced by the poultry industry in Pakistan. Data were collected from 1000 respondents by using simple random techniques. A structured questionnaire was developed for the reliability and validity of data. It was revealed that The parent stock layer is increasing at rate of 120% every year, in some years like 2004, 2006, 2009, and 2010 where growth is almost 200%. On the contrary, a consistent growth rate of 135% is seen in case of broiler parent stock. The average growth rate in case of layer day old chick per week is 140% except in 2004, 2006, 2009 and 2010. It was further revealed that Government authority should take the overall responsibility to make effective human resources through co-ordination of various agencies. This agency should monitor the coordinator matter, effective HR planning and coordination is equally significant for the private and public sector in Pakistan. Especially education infrastructure should be updated based on need. In Pakistan, there is lack of poultry training institutions; it should be more than that otherwise unskilled labor will never be able to meet up the future demand of protein through poultry sector.
Keywords: Problems, Poultry, Industry, Pakistan