IOSR-JBM   Volume-16 ~ Issue-5 ~ May-2014

Abstract: In this paper, a time series statistical analysis has been done for predicting the growth of organized retail sales in India along with its impact on Foreign Direct Investment in retail sales. The analysis is done to identify the factors that contribute to the increase in organized retail sales and also to verify whether there exist a positive relationship between growth in retail sales and Foreign Direct Investment. Using a panel dataset of indicators from the year 1975 to 2010, a positive relationship has been found between factors like mobile cellular subscriptions (per 100 people), internet users (per 100 people), household consumption expenditure (as a percentage of GDP), consumer price index, population age group between the ages 15-64 years and urban population growth to that of retail sales. All these factors are positive and significant. Thus this study makes a significant contribution by identifying the key determinants in the predictability of organized retail sales in India, thus making a great socio- economic effect on the development of the Indian economy as a whole. The analysis also finds a positive relationship between the inflow of foreign direct investment and retail growth. This finding suggests that with the advent of international spending in India, retail will grow, and this in turn will increase the quality of the goods produced and the services rendered in India.
Key Words: Organized retail, econometric analysis, private final consumption expenditure, household final consumption expenditure, foreign direct investment, multi-co linearity, heteroskedasticity

[1]. Ahluwalia, M. S. (2011), "FDI in multi-brand retail is good, benefits farmers", The Times of India, http://timesofindia.indiatimes.com/ business/ india-business/ FDI-in-multi-brand-retail-is-good-benefits-farmers-Montek-/ articleshow/ 7328844.cms#ixzz1EmeD95sm".
[2]. Balasubramanyam V.N, Sapsford David (2007): "Does India need a lot more FDI", Economic and Political Weekly, pp.1549-1555.
[3]. Basu P., Nayak N.C, Archana (2007): "Foreign Direct Investment in India Emerging Horizon", Indian Economic Review, Vol. XXXXII. No.2, pp. 255-266.
[4]. Biswas, R. (2002) "Determinants of foreign direct investment," Review of Development Economics, 6 (3), pp. 492-504.
[5]. Chetan Bajaj, Rajnish Tuli & Nidhi Srivastava, Retail Management, Oxford University Press.

Abstract: This paper aims to identify the main obstacles to the implementation of Total Quality Management. The study is to test the structural order which would enhance Total Quality Management and at the same time seek to discover the systems sensitivity to the human resources with its ultimate effect on performance. To do so, the findings of a stratified sample size comprising of top management team, academic heads of departments, lecturers, support staff and students was obtained for the study. Structured questionnaires were administered and an interview schedule was arranged for a number of members chosen at random and all class representatives. Secondary data was obtained from the University reports on the Total Quality Management implementation and progress. Descriptive statistics have been used to analyse data. The data has been presented in terms of tables and graphs. The study revealed that the implementation of Total Quality Management in KCA University is facing challenges because members do not yet know how best to implement it. At the same time some members are not aware of Total Quality Management principles and do not understand how it works. The study only relied on an accessible sample within the University and was based on their word not considering the fact that sometimes people would respond depending on what they think you want to hear and not sincerely. The result of this study does not only identify the obstacles of TQM but also provides a reference to the managers of this learning institutions as well as the wider business world. The research provides a direction for both TQM scholars and managers and it can serve as a roadmap and a challenge to quality driven organizations.
Key Words: Total Quality Management.

[1]. Ashok, R. (1996). Total Quality Management. Across Functional Perspective, New York, Donnelley/Crawford's Ville.
[2]. Association of Commonwealth universities (2005) commonwealth Universities Yearbook 79th Edition
[3]. Barrie G. Dale (2006), Managing Quality.4th Edition Christopher & Larker (W.P 96-01). Quality Strategy, strategic control systems and organizational Performance. The Wharton school University of Pennsylvania Philadelphia.
[4]. Collins B.G (1995) Dictionary of Sociology.
[5]. Creg Bounds, Gipsy Ranney, Lyle Yorks & Mel Adams (2004). Total Quality Management (Toward the emerging Paradigm).
[6]. Fred R. David, Strategic Management. (Concepts and Cases)

Abstract: Mergers and acquisitions as a phenomenon is implemented to strengthen the banking system, embrace globalization, improve healthy competition, exploit economies of scale, adopt advanced technologies, raise efficiency and improve profitability. The world globalization has led to world financial crisis which has significantly affected the banking industry and has consequently increased the need for mergers and acquisitions (M&A) in the consolidation of deposit money banks. One of the major policies introduced to solve these financial problems is by consolidation through mergers and acquisitions. This study explored the impact of post mergers and acquisitions on the performance of deposit money banks in Nigeria. The study adopted a cross sectional survey design with a total population of 22 deposit money banks in Nigeria. A sample of 10 banks was randomly selected from the above population. The study used the secondary sources to extract data from the Annual Reports of the selected banks for a period of five (5) years (2008-2012). Simple regression analysis technique was used for data analyses. The study revealed that as at the end of year 2012, the average capital base of the sampled banks in the post Merger period showed a total of (N 1.76 Trillion). This is an improvement from the recent work of Oghojafor (2012) in which average capital base stood at (N 6,358.76 Million). The study revealed an insignificant but positive relationship between post mergers and acquisitions capital base (PMACB) and dividend per share (DPS) with (P=0.985 i.e. P>0.05), earnings per share (EPS) with (P=0.803 i.e. P>0.05), return on assets (ROA) with (P=0.859 i.e. P>0.05) and return on capital employed with (P=0.666 i.e. P>0.05). This study concluded that post merger and acquisition has no significant effect on dividend per share of shareholders, their earnings per share, return on assets and return on capital employed. In a broad perspective, this study further revealed that there is a reduction in the degree of global banking crisis over the years and thus reduction in the general banking failure particularly in Nigeria. This is made possible through mergers and acquisition process which consecutively resulted in increased capital base of banking industry in Nigeria. The study recommended that equal considerations should be given to both micro and macro prudential guidelines, in order to ensure sound and stable banking system. Also, deposit money banks should incorporate into their banking policy other factors such as credit discipline, corporate culture

Keyword: Merger, Acquisition, Banking sector, Performance

[1]. Abdulkadir, R. I. (2007). Financial statement analysis as a measure of performance; A case study of chevron oil producing, Nigeria. a seminar paper presented at the Department of Accounting. Kano: Bayero University.
[2]. Agbada, A. O., and Odejimi, D. O. (2012). Core Competences and Optimising Bank Capital Management in Nigeria. International Journal of Financial Research, 4(1). doi:10.5430/ijfr.v4n1p75

[3]. Abdulraheem, A., Yahaya, K. A., and Aliu, O. A. (2011). Determinants of Performance: A Cross Generational Analysis of Nigerian Banks. European Journal of Social Sciences, 24(4).
[4]. Adah, A. (2012). Impact of Recapitalisation on the Financial Performance of Deposits Money Banks in Nigeria. A Dissertation submitted to the Post graduate school. Zaria: Ahmadu Bello University.
[5]. Adegbaju, A. A., and Olokoyo, F. O. (2008). Recapitalization and Banks‟ Performance: A Case Study of Nigerian Banks. African Economic and Business Review, 6(1)

Abstract: With the ever-changing business environment the way in which business firms are supposed to work also changes. No nation can avoid the change in the corporate culture that comes as an external force due to the rapid linkage of various economies & their corporate entities & that not only provide ample of opportunities but poses a lot of challenges especially on the governance front. With this changing environment it is in the best interest of the country to keep on incorporating various governance aspects arising in terms of challenges due to changes taking place in corporate arena. This paper is therefore an attempt to understand such the changing corporate laws in India by comparing the two major companies act i.e. Companies Act 1956 & the recently introduced Companies Act 2013.
Keywords: Companies Act 1956, Companies Act 2013, Corporate Governance, Corporate Social Responsibility, Class Action Suit.

[1]. Sharma JP (2014), "Governance, Ethics and Social Responsibility of Business" Ane Books Pvt. Ltd. New Delhi, India.
[2]. Sharma JP (2012), "An easy approach to Corporate Laws" Ane Books Pvt. Ltd. New Delhi, India.
[3]. Kuchhal MC (2009), "Corporate Laws" Shree Mahavir Book Depot (Publishers), New Delhi, India.
[4]. Kuchhal MC (2013), "Modern Indian Company Law" Shree Mahavir Book Depot (Publishers), New Delhi, India.

[5]. Companies Act, 1956.
[6]. Companies Act, 2013

Abstract: There are three generations active in the work force, that is Baby Boomers (born before 1950), Generation X (born between 1950s and 1980s), and Generation Y (born in the late 1980s to 2000). The purpose of this study was to determine factors influencing work attitudes amongst the Y generation. The specific objectives of the study were to identify variables that affect generation Y attitude towards work and decompose the identified variables into factors that can be subjected to further analysis. Data was collected using questionnaires from a sample of forty one part time students in the institution. It was analyzed using SPSS version 17. The study identified eleven factors that would help to express generation Y attitude towards work. These include: relationships, ambition, technology friendliness, self-assertiveness, instant orientation, autonomy among others.

Key words: Generation Y, work attitude, technology friendliness

[1]. Alch M (2000) Get ready for the Next Generation. Training and Development, 54(2), 32–34.
[2]. Axelrod M.,Quinsland, L and Schull J (2006) Multi-chat: persistent, text-as-you- type messaging in a web browser for fluid multi-person interaction and collaboration, Rochester Institute of Technology, 1-9
[3]. Barr S (2007) Bringing Generation Y into the fold Washington Post, Retrieved from http://www.washingtonpost.com/wpdyn/content/article/2007/09/23/AR2007092301072
[4]. Broadbridge, A. M, Maxwell, G. A., & Ogden, S. M. (2007). Experiences, perceptions, and expectations of retail employment for Generation Y. Career Development International, 12(6), 523–544
[5]. Cennamo L, and Gardner D (2008) Generational differences in work values, outcomes and person-organization values fit, Journal of Managerial Psychology, 23(8), 891–906

Abstract: Heritage tourism marketing plays a significant role to attract tourists in heritage destinations. Bangladesh is endowed with historical and archaeological sites. The country has all the potential to be an important heritage destination in the world. Well-planned marketing of these heritage destinations is a primary requirement to attract both foreign and domestic tourists. There are some barriers which can impede successful heritage tourism marketing in Bangladesh. Lack of coordination among stakeholders, insufficient funding and providing less importance to the needs of the tourists can obstruct successful heritage tourism marketing. Developing creative promotional program, coordination among relevant stakeholders, conservation and protection of heritage sites and active participation of both private and public sector are necessary to implement heritage tourism marketing in Bangladesh.
Keywords: Bangladesh, Tourism, Heritage Tourism, Heritage tourism marketing, Heritage tourism products.

[1]. Understanding tourism: basic glossary. (2014). Retrieved from http://media.unwto.org/content/understanding-tourism-basic-glossary
[2]. Ghosh, B. 2001. Tourism and Travel Management( New Delhi: Vikas Publishing House Pvt. Ltd).
[3]. Dabour, N. ( 2003) Problems and Prospects of Sustainable Tourism Development In The OIC Countries: Eco- Tourism. Journal of Economic Cooperation vol 24. P- 25-62.
[4]. Malaysia Tourism Promotion Board. (2004). Profile of Tourists by Selected Market 2004. Planning and Research Division, Tourism Malaysia, Kuala Lumpur.
[5]. Shamsuddoha, M. (2008) sustainability of Tourism industry: Bangladesh Perspective. http:// ssrn.com/ abstract= 1314779( Electronically accessed at 8th February 2012).

Abstract: The tourism sector is making a significant march towards the economic development. The growth in travel and tourism directly or indirectly helps in the improvement of the socio-economic conditions of other factors such as hotels, resorts, guides, travel and tour operators etc. Thus, the tourism sector needs to be properly tuned in such a way that both central and state should make an attempt of improving Karnataka state as one of tourist destination with proper policies. Therefore, in the development of the tourism sector, the role of states in the democratic set-up of India needs to be recognized. Tourism creates thousands of jobs and benefits the entire community. Tourism helps to preserve ancient cultures & handicrafts, which otherwise would have been lost in the relentless march of industrialization. Thus, there is scope to study and identify the development of the state, supporting industries, income earned by the region and infrastructural facilities the Government has to make are all taken into the observation under the study.
Keywords: Tourism, Karnataka, Economic development, Policy,

[1]. Keleyan Margaret Otway, PodieKaganChitan, Wendell Stallone Carlson Lennox Cornwall , International Journal of Leisure and Tourism Marketing 2011 - Vol. 2, No.3 pp. 209 - 231
[2]. Bureau of Immigration, Government of India, for 1997-2012.
[3]. Ministry of Tourism, Government of India for 2013
[4]. Marketing of Tourism products In Karnataka: Policy Implication by Dr. H Ramakrishna, Indian journal of Marketing, ISSN 0973-8703, vol 41, No. 11 Nov 2011.
[5]. International Tourism Management by BholanathDutta, first edition, HPH
[6]. Karnataka Tourism Policy 2009-14: A pro-poor tourism? by DR. H.Ramakrishna,ZENITH International Journal of Multidisciplinary Research Vol.2 Issue 7, July 2012, ISSN 2231 5780

Abstract: Time has become one of the most insufficient but very important resources in organizations. Applying workable time management techniques would therefore lead to improvement in productive capacity and better competitive edge in this post-industrial age. It would also bring about increased profit and provide a climate of reduced stress and job satisfaction among business leaders and their subordinates. This study determined the time management techniques required by business leaders in Enugu Metropolis. Survey research design was used. Four research questions and four hypotheses guided the study. The population comprised 150 business leaders randomly sampled from 25 organizations. Questionnaire validated by five experts was used for primary data collection. Reliability was established using Chronbach Alpha which result yielded a high reliability index of 0.88. Mean and standard deviation were used to analyze and answer the research questions, while t-test was used to test null hypotheses at .05 level of significance. Data analysis was done using Statistical Package for Social Sciences (SPSS) Version 17. The research found that four operationalized clusters of time management techniques were, for the most part, required by business leaders, thereby confirming the position of previous researchers on the issue. Based on the findings, it was recommended, among others, that business organizations should provide training opportunities for their staff to acquire the time management techniques identified by this research; develop internal manuals and procedures to guide their employees on best time management practices; and discourage physical and electronic-based activities that contribute nothing to productivity.
Key words: African time, business leaders, higher productivity, organizations, techniques, time, time management.

[1]. Covery, S.R., Merrill, R. & Merrill, R.R. (1994). First Things First: to Live, to Love, to Learn, to Leave a Legacy. USA: Simon & Schuster Publishing.
[2]. Nayab, N. (2011). Exploring the history of time management. Bright Hub Inc. Available @ http://www.brighthub.com
[3]. Mohammad, U.S., Nadeem, E.F., Hameed, F., Mobeen, A.K., & Rahim, J. (2010). High level principles of time management in Islam. Singapore: International Conference on Social and Economic Development, IPED (10). IACSIT Press.
[4]. Merriam-Webster Online Dictionary (2013). Definition of time management. Merriam-Webster Incorporated. Available @ http://www.merriam-webster.com/dictionary/workplace.
[5]. Taylor, H. (2013). The changing face of time management. Taylor Time Consulting. Available @ http://www.taylorintime.com/index.php?option...id.

Abstract: Time has become one of the most insufficient but very important resources in organizations. Applying workable time management techniques would therefore lead to improvement in productive capacity and better competitive edge in this post-industrial age. It would also bring about increased profit and provide a climate of reduced stress and job satisfaction among business leaders and their subordinates. This study determined the time management techniques required by business leaders in Enugu Metropolis. Survey research design was used. Four research questions and four hypotheses guided the study. The population comprised 150 business leaders randomly sampled from 25 organizations. Questionnaire validated by five experts was used for primary data collection. Reliability was established using Chronbach Alpha which result yielded a high reliability index of 0.88. Mean and standard deviation were used to analyze and answer the research questions, while t-test was used to test null hypotheses at .05 level of significance. Data analysis was done using Statistical Package for Social Sciences (SPSS) Version 17. The research found that four operationalized clusters of time management techniques were, for the most part, required by business leaders, thereby confirming the position of previous researchers on the issue. Based on the findings, it was recommended, among others, that business organizations should provide training opportunities for their staff to acquire the time management techniques identified by this research; develop internal manuals and procedures to guide their employees on best time management practices; and discourage physical and electronic-based activities that contribute nothing to productivity.
Key words: African time, business leaders, higher productivity, organizations, techniques, time, time management.

[1]. Covery, S.R., Merrill, R. & Merrill, R.R. (1994). First Things First: to Live, to Love, to Learn, to Leave a Legacy. USA: Simon & Schuster Publishing.
[2]. Nayab, N. (2011). Exploring the history of time management. Bright Hub Inc. Available @ http://www.brighthub.com
[3]. Mohammad, U.S., Nadeem, E.F., Hameed, F., Mobeen, A.K., & Rahim, J. (2010). High level principles of time management in Islam. Singapore: International Conference on Social and Economic Development, IPED (10). IACSIT Press.
[4]. Merriam-Webster Online Dictionary (2013). Definition of time management. Merriam-Webster Incorporated. Available @ http://www.merriam-webster.com/dictionary/workplace.
[5]. Taylor, H. (2013). The changing face of time management. Taylor Time Consulting. Available @ http://www.taylorintime.com/index.php?option...id.

Abstract: Small and medium-sized businesses (SMBs) are considered engines for economic growth, and with good reason. They are usually eager to grow their companies, and are always looking for new ways to raise the profile of their brands and rev up their marketing efforts. Social media plays a critical role in these growth and marketing efforts. In Ghana more people are joining social media but businesses are failing to take opportunity to market their products there since they is not enough statistical proof of any return of investment and there is no proper understanding of how to use social media as a means of marketing their products. Today, more than a billion numbers of people can be seen on one or more social media sites in an hour. This paper is focused on highlighting the need for small to medium-scale businesses in Ghana to take advantage of the social media buzz to grow their businesses.

Keywords: Social Media, Small and medium-sized businesses (SMBs), business growth, Facebook, Ghana

[1]. A Lombard. "The Human Side of B2B Social Media: Eight Benefits of Social Media Marketing". (2013).
[2]. KPMG International. (2011). "Going Social: How businesses are making the most of Social Media."
[3]. R Williams. "What is Social Media Marketing?" Retrieved from www.orangejack.com on March 20, 2014
[4]. M Stelzner. "Social Media Marketing Industry Report: How Marketers Are Using Social Media to Grow Their Businesses." (2013).
[5]. J Jantsch. "Lets Talk Social Media for Small Business (Version 2)."
[6]. Community Futures PA and Districts. " An Introduction to Social Media for Small Businesses". Blue Beetle Books. (2012).

Abstract: This research sought to examine the factors causing negative perceptions of internal audit and the impact on the performance of the internal audit function. The researcher used questionnaires to collect data. There were 78 questionnaires distributed and 69 were received giving a response rate of 88.46%. The researcher used managers, section heads, supervisors and clerical staff as respondents. The research used exploratory and qualitative techniques. The causes of negative perceptions were agreed by 78% of respondents and some of the causes of negative perception were; auditors failure to meet expectation gap, bad reputation of an auditor, the quality of audit staff, level of professional competence and the absence of independence and objectivity in internal audits. The research proposed strategies which can be used to improve perceptions about internal audit as follows: Internal audit needs to adopt a new mindset in view of the many changes that are taking place in the business environment, to correct the anomalies when you receive a qualified audit opinion and correct the errors rather than change the auditor, in the prevalence of financial scandals, intense focus on corporate governance. Auditing can be improved by getting adequate support from management, recruiting qualified and professional auditors and management can improve internal auditing by demonstrating commitment to implement audit findings.
Key words: Internal auditing, Hwange Area, Zimbabwe

[1]. Abidin, Z.A. and Ismail, A.N. (2009) Perceptions towards the importance and knowledge of Information Technology among Auditors in Malaysia. Journal of Accounting and Taxation, Volume 1 pp. 061 – 069.

[2]. Gómez-Aguilar, N. and Ruiz-Barbadillo, E. (2003) Do Spanish Firms Change Auditor to Avoid a Qualified Audit Report? International Journal of Auditing. Volume 7 pages 37–53. doi: 10.1111/1099-1123.00004.
[3]. Baskerville et al. (2012) Audit expectation – performance gap revisited: Evidence from New Zealand and United Kingdom part 2: Changes in the gap in New Zealand 1989 – 2008 and in the United Kingdom 1999 – 2008. International Journal of Auditing. Volume 16 pages 215 – 247.

[4]. Butcher K., Harrison, G. and Ross, P. (2013) Perceptions of Audit service quality and Auditor retention: International Journal of Auditing, Volume 17 pages 54 – 74.
[5]. Chapman, C. and Anderson, U. (2002) Implementing the professional Practice Framework. Altermoute: The Institute of Internal auditors.

Abstract: The purpose of this study was to investigate the effects of firm size on enterprise risk management for the listed firms in Kenya. Effectiveness of enterprise risk management is measured by financial performance of the listed firms. A descriptive research design was used. Theoretically, ERM adds value to an organization, however there is disagreement among scholars on whether ERM add value to a firm that adopt ERM. This study investigated the effects of firm's size on ERM measured in terms of financial performance of the listed firms in Kenya. A descriptive research design was used and the study population was the managers heading ERM departments in the listed firms. A survey sheet was used to collect secondary data from annual financial statements of each of the listed firms; primary data was collected using questionnaires. Data collected was analyzed using descriptive statistics and regression analysis models. The relationship between independent variable and dependent variable was analyzed using linear regression models. The hypothesis was tested using F-test at 5% level of confidence. The results were presented using pie charts, tables and graphs. The finding from the study was compared with the empirical literature as well as the theoretical literature.
Key words: Firm's size, ERM, Listed Firms, Financial performance

[1]. AM. Best Company (2013). Country Risk report for 2013. Available at, www.ambest.com/rating/cr/report/kenya.pdf
[2]. Anderson, Boyle, Brady, Bridge, Bromfield, Chamblee,…,Liebfried (2004). Committee of Sponsoring Organization of Treadway Commission (COSO): ERM-Integrated Framework, Application Techniques, New York: COSO
[3]. Africa Insurance Agency (2009).Annual Reports and Accounts of 2009: Africa Insurance Agency, available at;www.ati-aca.org/annualreport2009.pdf, retrieved on 28/6/2012.
[4]. Althonayan A., Keith J and Misiura (2011). Aligning Enterprise Management with Business Strategy and
[5]. Information systems, European, Mediterranean and Middle Eastern Conference on Information Systems, 2011 May 30-31 2011 pg 109-129.