IOSR-JBM   Volume-16 ~ Issue-8 ~ Aug-2014

Abstract: This paper considers basically the validity of active investment fund management especially as it concerns generating more profit for an investor. The paper recognises that in other to fully appreciate the validity of active investment fund management it should be compared with passively managed funds. Both forms of fund management have their merits and demerits. The paper therefore, goes into detail in comparing and contrasting the advantages and disadvantages of both forms of funds management. The paper concludes by noting that actively managed funds have a higher potential of yielding better returns in an inefficient market. It further recognises that it may be better to adopt passive management strategy in a highly efficient market. However, the final choice of which among these two strategies to adopt rests with the investor' expectations and what he intends to make out of his investment.

Keywords: investment, management, funds, active, passive

[1]. Adkins, T. (2007). Active Management: Is It Working For You? <http://www.investopedia.com/articles/mutualfund/09/add-value-active-investment-management.asp> (Accessed 27 November, 2010).
[2]. Adkins, Troy. Active Investment Management Misses the Mark.
[3]. <http://www.investopedia.com/articles/trading/09/active-investment-management-critique.asp> (Accessed December 4, 2010).
[4]. Allison, David. Your Investment Manager: Skilled Or Lucky?
[5]. <http://www.investopedia.com/articles/mutualfund/09/composite-presentations-choosing-manager.asp> (Accessed December 1, 20101).
[6]. Arnerich, Tony et al. (2007). Active versus Passive Investment Management: Putting the debate into perspective. August 2007. < https://www.am-a.com/company/research/wp_ActiveversusPassive.pdf> (Accessed December 6, 2010).

Abstract: The strategies of oligopoly firms usually pull high sales since price rigidity is the watch word, while none price strategies such as advertisement, marketing, personal selling, distribution, branding and club card with constant. While, the rivalry depends on price elasticity of demand with the gradient lied in kinked demand graph in the work. And the threat of entry usually high in the UK grocery market with Tesco firm possessing high opportunity in the industry over rivals.

[1]. About.com, 2012. Economics, {online} Available at :>http://economics.about.com/cs/economicsglossary/l/bldefconcentrat.htm>
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[5]. Akrani, G., 2010. Perfect Completion {online} Available at:>http://kalyan-city.blogspot.co.uk/2010/11/perfect-competition-meaning-and- main.html> { Accessed 21st November, 2012}.

Abstract: The study appraised the recent performance of Real Estate Investment Trust (REIT) as a new investment vehicle in Nigeria. While REITs are often presented as useful tools for diversification, little is known about the variations in the empirical correlations between the country's REITs' returns and the general market index. The paper addresses this issue using published data over the first four trading years (2008 – 2011) of Skye Shelter Fund, the country's premier publicly traded REIT. Data inquiry schedules were developed to gather annual market and REIT'sreturndata based on the analytical framework provided by Capital Asset Pricing Model.Using regression analysis, the results of the study showed that the Nigerian REIT wasweaklycorrelated to the broad market during the 4-year period of the analysis. The findingssupport the importance of REITas a relatively low-risk, stableasset class that investors can leverage for building sustainable optimal portfolios, particularly during periods of heightened macroeconomic uncertainties of the kind witnessed during the 2008 global financial crisis.The significance of this research is the potential to chart the way forward by presenting investment opportunities in REITfor policy makers, international development institutions, financial organisations, and research centres.

Keywords: CAPM, Global Financial Crisis, Market Risk, Nigerian Economy, REITs

[1]. Adebowale, Y. (2014, April 5). It‟s official tomorrow: Nigeria‟s economy, Africa‟s biggest. Thisday (Nigeria), p. 1.
[2]. Adetunbi, S. (2006, December 16). Real estate investment trust – Nigerian structure in view. Unpublished presentation obtainable from seye@valueinvesting.com.
[3]. Amidu, A., Aluko, B. T., Nuhu, M. B., & Saibu, M. O. (2008). Real estate security and other investment assets: A comparison of investment characteristics in the Nigerian stock market. Journal of Property Investment and Finance, 26, (2), 151-61.
[4]. Amidu, A., & Aluko, B. T. (2006, May – August).Performance analysis of listed construction and real estate companies in Nigeria.Journal of Real Estate Portfolio Management, 12, (2), 177-85.
[5]. Appraisal Institute (2001). The appraisal of real estate. 12th ed. Chicago: Appraisal Institute

Abstract: Personnel differentiation has been viewed as one of the immeasurable competitive advantage for the service sector in the world. Such advantage or human resource based advantage is difficult for a competitor to imitate because the source of the advantage may not be very apparent to an outsider. If the service organization wants to achieve competitive advantage they must differentiate their personnel to satisfy their customer. Satisfied customer can loyal to the organization and loyal customer increases its profitability and sustainability. So, Different dimensions of personnel differentiation have been considered by various previous scholars. This study is an attempt to identify the factor causing personnel differentiation to satisfy customer for banking service for achieving competitive advantage. The study is exploratory in nature and uses Factor Analysis (Principal Component Analysis) to identify the most important factors of personnel differentiation which can help to achieve the competitive advantage of bank among 15 variables. The research methodology is empirical and a survey of different customers (sample-150) was conducted. The reliability test was used; the variable under study and sample size came reliable for the study. The findings reveal that six factors are considered important for determining personnel differentiation from the perspective of customer satisfaction. These factors are 'Visually Appealing personality and Tangibility '; 'Assurance'; 'Credibility and Accessibility'; 'Responsiveness' ;'Empathy' and ' Reliability'.

Key words: Personnel Differentiation, Competitive Advantage, Customer Satisfaction, Factor Analysis, Principle component analysis.

[1]. Abdi.H., & William, L.J, (2010), "Principal Component Analysis," Wiley Interdisciplinary Reviews: Computational Statistics, 2:433-459.
[2]. Armstrong G., Adam S., Denize, S. and Kotler P. (2012) Principles of Marketing, 5th Edition, Sydney, Pearson/Prentice Hall.
[3]. Armstrong G., Adam S., Denize, S. and Kotler P.(2012) Principles of Marketing, 5th Edition, Sydney, Pearson/Prentice Hall., pp. 184-196
[4]. Bartholomew, D., Knotts, M., & Moustaki, I. (2011). Latent variable models and factor analysis: A unified approach. (3rded.). West Sussex, UK: John Wiley & Sons.
[5]. Child, D. (2006).The essentials of factor analysis. 3rd ed.. New York, NY: Continuum International Publishing Group

Abstract: The chief executives of public universities in Nigeria are not finding it interesting managing their institutions. There is an increase in enrolment, even greater increase in the cost of providing necessary soft and hard facilities and infrastructure to support basic teaching and learning and research. While so much funds are required, these universities are under tremendous pressure from students, parents and government not to increase tuition fees or increase charges for other student related activities. Yet, there have been a great reduction in State funding. The proprietors of these institutions even expect them to, and infact charge them to do more for themselves by way of ingeniously looking for alternative sources of funding other than charging fees and expecting government support.The chief executives are in a dilemma. In the face of financial strangulations what should these Vice-Chancellors do? This paper posits that it will be necessary for the Vice-Chancellors of public Universities in Nigeria to adopt an appropriate reformed business model in the management of their institutions. This paper therefore explains the concept and outlines a number of business models, highlights the strengths and limitations and discusses the implications, and applications of business model in the management of universities in order to achieve their triple missions of teaching and learning, research and extension services.

Key Terms: Business models, efficiency, mixed technologies, online learning, private for-profit, public universities.

[1]. Balaji, V. (2011). How to build revenue: 24 types of business models with examples. htt://. The Agni.com December 2nd.
[2]. Birkinshaw, Julian (2011). What is your management model? Opensource.com posted February 28th , 2011
[3]. Boffey, Daniel (2013). Language teaching crisis as 40% of University departments face closure. The Observer, Saturday 17th August.
[4]. Bradshaw, James (2013). University of Alberta eliminates 20 arts programmes. The Globe and Mail, August 19, 2013
[5]. Chesbrough, H. (2003). Open Innovation: the new imperative for creating and profiting from technology. Boston: Harvard Business School Press.
[6]. Chesbrough, H. and Rosenbloom, R.S. (2002). The role of the business model in capturing value from innovation evidence from Xerox Corporations technology spinoff companies." Industrial and Corporate change, 11(3), 529-555.

Abstract: This study investigates the impact of work group composition on work place satisfaction and performances using results from experimental study of students from three groups in University of Gothenburg Sweden management class working groups. Work group composition is measured here by considering factors such language, nationality and culture among group members. Language had a positive and significant effect on workplace performance; this was also probably true since effective communication skill was likely to make working groups work in a hitch free manner. While culture on the other hand has a negative and statistical significant effect on workplace satisfaction, this was likely to be true since punctuality, individual comportment, and work ethics were likely factors that member of working groups take seriously when working as a team in groups. The horizontal flow of information (knowledge transfer) was also found to depend on work group output performances. This was reasonable, since how efficient work groups and sub groups within the groups efficiently carried out their tasks will depend on the horizontal flow of information in groups. The evidence presented in this study shows that issues of nationality was not relevant to individual group members overall satisfaction in participating in groups nor was it vital to overall group performances. The results could be beneficial to organization management particularly those that wish to improve overall output productivity since class work groups experimental studies are a miniature study of organizations, the implications of this study is that language and culture could improve organizational output productivity substantially since language could contributes significantly to organizational performances and work ethics is also likely to create workplace satisfaction which can contribute in a significant way to organizational output.

Keywords: Knowledge transfer, Work group performance, Work group satisfaction. JEL Classification - J81, J82 J89.

[1]. Hansen Z., Owan H. and Pan J. (2006).The Impact of Group Diversity on Performance and Knowledge - NBER Working Paper No. 12251. [2]. Leonard, Jonathan S. (1984) "Antidiscrimination or the Reverse Discrimination: The Impact of Changing Demographics, Title VII, and Affirmative Action on Productivity" The Journal of Human Resources, Vol. 19, No. 2 , 145-174.
[3]. Heckman, James J.; and Payner Brook S. (1989) "Determining the Impact of Federal Antidiscrimination Policy on the Economic Status of Blacks: A Study of South Carolina" The American Economic Review, Vol. 79, No. 1, 138-177.
[4]. Holzer, Harry; and Neumark, David. (2000)"Assessing Affirmative Action" Journal of Economic Literature, Vol 38, No. 3 , pp. 483-568.
[5]. Cummings, A.; Zhou, J.; and Oldham, G. (1993) "Demographic Differences and Employee Work Outcomes: Effects of Multiple Comparison Groups." Paper Presented at the Annual Meeting of the Academy of Management, Atlanta, GA.

Abstract: Qualitative research in X-Hospital, want to find answers why the stress of work and deep commitment organizational declining, especially in the finance and whether it is a result of their carelessness or the impact of other parts. Incidence of occupational stress resulted in a violation of the stadard operating procedure (SOP). To find the answer is traced from the Performance. SOP implementation occur because of a conflict of interest among nurses. The cause of these problems can not be separated from the person of culture in each unit. Person culture is made up of sub-culture that is inherent in human resources, resulting in job stress in all units and many of the employees who work carelessly even many who came out. The key to the settlement of conflicts of interest focuses on the interests and needs of the individual. Finally found that commitment that is able to bring his subordinates to work in accordance with the SOP, Interpersonal Conflict, Conflict of Interest, can be avoided and can relieve the stress of work and changing the culture person to be a role culture with persuasive approach will increase organizational commitment,

Keywords: Person culture, Interpersonal Conflict, Conflict of Interest, organizational commitment

[1]. Andayani, Sri dan Kristoforus Jawa Bendi,( 2007), Peformance Management System, Jurnal Teknik Industri, vol 7. No.2
[2]. Cummings, P.W. (1999). Open Management: Guides to Successful Practice, Amacom , New York.
[3]. Gallo, Giorgio, (2012), Conflict Theory, Complexity and Systems Approach, Systems Research and Behavioral Science, Published online in Wiley Online Library (wileyonlinelibrary.com) DOI: 10.1002/sres.2132
[4]. Hofstede, Gert, Jan, et al., (2002,) Exploring Culture, Intercultural Press, Inc., Yarmouth, Maine, USA

[5]. Katz, D (2006). The motivational basis of organizational behavior .Journal of Helath Management, volume,15 nomor 9.

[6]. Kushandayani,( 2010, Permasalahan Konflik dalam Distribusi Pasien Bedah di Rumah Sakit X, Tesis, Universitas Brawijaya, Malang.

Abstract: Information and Communication Technologies have since its inception become a very vital aspect of human life as a result of its power to make things easier. Integration of ICT in firms will expand the communication platform and make it easily accessible for the users, which will result to an increase in the flow of information within the system and increase troubleshooting solutions. The end product is an increase in productivity and profitability because the staffs within the system have been provided with a more open access to information and the necessary support in their job process. In any case, there have been recorded accounts of ICT failure in firms (for instance: Flyvbjerg, 2007), leading to suggestions that there is a need to understand the influence success of ICT programs in companies in order to boost the chances of such success. On that account, this paper was designed to understand these factors with respect to how they influence success or failure of ICT adoption and implementation – with special focus on ICT firms in Malaysia. The finding reveals similar accounts with earlier literature on the topic of project management in the sense that, TIME, SPECIFICATION and BUDGET were all determined to be of influential role in the success or failure of ICT projects. An additional area that was explored is to understanding of how level of happiness in the stakeholders can be used to measure the success or failure of an ICT project. The finding also revealed that the higher the stakeholders (management, project team and customers) are happy then the higher the success of the project and vice versa.

Key words: ICT Project, ICT firm, Success or Failure.

[1]. Pekka, S. (2008), "Increase ICT Project Success with Concrete Scope Management." Available at: http://www.compaid.com/caiinternet/ezine/forselius-scope.pdf [Accessed on: 29/07/2013].
[2]. Christensen, D.S. (1993, September) An Analysis of Cost Overruns on Defense Acquisition Contracts. Project Management Journal 3, 43-48.
[3]. DeMarco, T. "Mad About Measurement" essay in Why Does Software Cost So Much?, Dorset House Publishing, 1995.
[4]. Song, X.M., Montoya-Weiss, M.M. and Schmidt, J.B. Antecedents and Consequences of Cross-Functional Cooperation: A Comparison of R&D, Manufacturing, and Marketing Per- spectives. Journal of Product Innovation Management, 14, 35-47. (1997).
[5]. Grönroos C. Relationship Marketing: Interaction, Dialogue and Value.Revista Europea de Dirección y Economía de la Empresa, 9 (3), 13-24. (2000).

Abstract: Training in Employment Courses (FCE) is the anchor of Vocational Training in the workplace, enhancing the dynamics of investment in human resources and business development partnership. The workplace becomes a privileged space for skills development through the promotion of alternate training and learning, internships' obligation and the introduction of professional juries for residential training. In order to assess the current situation for both customers of the TEC in ICTs in Morocco for its service, and enjoy their experience in the field and examine the possibilities of development of this sector, we have conducted a survey of a sample of organizations prior to processing and analysis of data collected in the field.

Keywords: Education, ICT, On-the-job, training,Vocational.

[1] 50 Years of Human Development and Outlook 2025, the fiftieth anniversary of the Kingdom's Independence, Official Report.http://www.ofcertification.fr/qualite

[2] Moore, k. (2009). Effective Instructional Strategies: From Theory to Practice. Sage Publications, USA.

[3] Special Education Training Commission, (1999), National Charter of Education and Training, Morocco.

[4] Theall, M. & Franklin, J. (2001). Using Technology to Facilitate Evaluation.New Directions for Teaching and Learning, n° 88. San Francisco :Jossey-Bass.

[5] Global Information Technology Report 2006‐2007, World Economic Forum, March 2007

[6] The Arab World Competitiveness Report 2007, World Economic Forum (DAVOS)

Abstract: This study sought to examine growth requirements of MSMEs based on primary data gathered from two local government areas in Cross River State - Calabar South and Calabar Municipality. The method of random sampling was used to select 3,660 respondents for the administration of structured questionnaire instrument for data collection. Data collected and analysed covered employment behavior, enterprise owners' demographics, enterprise type and sector, bankability, and accessibility to Business Development Support (BDS) services. Other information elicited was on business formalization, growth prospects of enterprises, and taxation. Information collected was analyzed and summarized using simple percentages.Findings show that in both LGAs, enterprises required capacity building in specialized technical, managerial and marketing fields for business startups. Interest charges by banks, ignorance, and poor access to loans were leading limiting factors confronting MSMEs in both LGAs. It was also revealed that low purchasing power, inadequate knowledge, large number of dependants, unfair tax system and insecurity were the leading de-enablers of enterprise growth. The study recommended the provision of Business Development Support (BDS) services targeted at budding microenterprise owners and aspiring entrepreneurs, especially women, the physically challenged and other vulnerable groups, and people living in communities with limited banking services.

Key Words: MSMEs, BDS, MEDA and Growth

[1]. Edgcomb, Elaine L. and Tamra Thetford (2013), Job Creation: Entrepreneurship Approaches. Microenterprise Development as Job Creation. The Aspen Institute, FIELD (Microenterprise Fund for Innovation, Effectiveness, Learning and Dissemination).
[2]. GEMS-3 (2012), The Business Environment and Investment Climate - Investment Study, Cross River State, February (a DFID Funded Project.
[3]. GEMS 3 Baseline and Diagnostic Survey for Tax Harmonization and Related Matters in three Pilot LGAs of Cross River State – Calabar South, Calabar Municipality, and Ikom LGAs, February (2013),(a DFID Funded Project).
[4]. Gulani, Musa Garba and Aisha Usman (2013), Financing Small and Medium Scale Enterprises (SMEs): A Challenge for Entrepreneurial Development in Gombe State, Asian Journal of Business and Management Sciences 2(9) 17-23.
[5]. Kanayo, Ogujiuba, Fadila Jumare and Stiegler Nancy (2013), Challenges of Microfinance Access in Nigeria: Implications for Entrepreneurship Development Mediterranean Journal of Social Sciences 4 (6) 611 – 618.

Abstract: In present era of throat-cut competitiveness, the earning and growth of Indian SMEs has been deteriorating continuously and such companies are bleeding out of financial crunch. This paper examines the influence of evaluating, implementing, and accounting for the various operational efficiencies in an organization which can bring turnarounds in improving the firm's commercial and financial performances. Fifty companies were scanned for this study using well structured questionnaire as well personal contact program at various levels of organization. The results show that there is a significant correlation between the roles of various operational efficiencies within the organization that can prove to be a turnaround in enriching the commerce of the business entity. Type of corporate culture and organizational commitment do influence on the financial performance of Indian SMEs especially in densely populated auto component manufacturing companies. The propositions of the study have also been addressed. Furthermore, an attempt has also been made to improve agility, visibility, and operational performance across manufacturing. This paper is unique in dealing with the ways and means for applying six-sigma, lean-manufacturing,QMS, TQM culture for assessing business efficiency especially in SMEs in Indian Auto Component manufacturing units.

Keywords: SMEs, Operational Efficiency, Financial Performance, Turnaround, Lean-Manufacturing

[1]. Boyer, K. K., G. K. Leong, et al. (1997). "Unlocking the potential of advanced manufacturing technologies." Journal of Operations Management15 (4): 331-347.
[2]. Carlivati, P. (2007), "Six Sigma: a new path to perfection", ABA Bank Marketing, No. April, pp.24-9.
[3]. Czarnecki, H. and Loyd, N.,( 2004). Simulation of Lean Assembly Line for High Volume Manufacturing, Research Paper Published by University of Alabama in Huntsville.
[4]. Donath, B. (2005), "Six Sigma's true meaning lies with customer", Marketing News, No. May, pp.9-10.
[5]. Firka, D. (2010), "Six Sigma: an evolutionary analysis through case studies", The TQM Journal, Vol. 22 No.4, pp.423-34.
[6]. Hambleton, L. (2008), A Treasure Chest of Six Sigma Growth Methods, Tools, and Best Practices, Prentice-Hall, Upper Saddle River, NJ .

Abstract: Financial inclusion is a systematic effort to provide essential financial services to all and especially to poor people. This concept has been pushed up by government of India and RBI because even after so many years of independence high population of India remain unbanked because high population of India lives in rural area and poor people and they are not literate enough to understand the pros and cons of various essential financial services. In this paper efforts are made to review various schemes initiated by Government, RBI and others to promote financial inclusion. A model has been designed in this paper to explore various dimensions of financial inclusion. Financial inclusion has increased in overall in India but its effectiveness is still doubted.

[1]. Chakrabarty K.C (2013), ‗Financial Inclusion in India:Journey So Far And the Way Forward', Key note addressat Finance Inclusion Conclave Organised by CNBC TV18 at New Delhi.
[2]. Crisil Inclusix (2013) a Report on Index to Measure India's Progres on Financial Inclusion, June 2013. P-14. Accessed on 1st march 2014 from http://crisil.com/pdf/corporate/CRISIL-Inclusix.pdf.
[3]. Leeladhar V (2005), ‗Taking Banking Services to the Common Man – Financial Inclusion', Commemorative Lecture at the FedbankHormis Memorial Foundation at Ernakulam.
[4]. Mittal, Satish K (2008) Corporate Restructuring: A Strategic Decision, Journal of Strategic Innovators, May-July 2008, Volume 1, Issue 4, pp-64-67.
[5]. Mittal, Satish K and Bansal, Lalit K (2008) The Impact of mergers and Acquisitions on Corporate Performance in India, Journal of Management Decision, Vol. 46, No.10, 2008, PP-1531-1543.

Abstract: This study investigates the effect of Corporate Social Responsibility Performance on stock prices of Nigerian listed manufacturing companies .The objective of this study is to carry out an empirical study of the relationship between Corporate Social Responsibility Performance and stock prices of listed manufacturing companies in Nigeria. We attempt to measure the perception and reaction of financial markets to the companies' socially responsible behaviors, and try to find out if an improvement in firm corporate social responsibility(CSR) actions has effects on stock prices. In our empirical analysis, we carried out tests that revealed the relationship between firms' corporate social responsibility performance(expenditure) and its influence on stock prices . Our empirical analysis revealed evidence of no relationship between corporate social responsibility performance and stock prices and evidence of no significant effect on stock prices of listed manufacturing companies in Nigeria We measured corporate social responsibility performance in terms of monetary contributions made or expenditure incurred by companies in respect of their social responsibility activities concerning environment, community and employment activities. Our findings show that listed manufacturing companies', in Nigeria ,Corporate Social Responsibility Performance(CSRP) has no effect on their stock prices and it further revealed a negative non- significant correlation between stock prices and corporate social responsibility( CSR) activities ..

Keywords: Corporate Social Responsibility , Corporate social responsibility performance, Stock Price.

[1]. Ajide, Folorunsho Monsuru1, Aderemi, AdetunjiAbdulazeez(2014)The effects of corporate social responsibility activity disclosure on corporate profitability: Empirical evidence from Nigerian commercial banks .IOSR Journal of Economics and Finance (IOSR-JEF).Volume 2, Issue 6 (Feb. 2014), PP 17-25.
[2]. Alessia ,D.,Sybil, H. And Sue, F;(2009), ‗Corporate social responsibility and sustainablebusiness',Auide to Leadership Tasks and Functions,Center for creative Leadership, Greenboro, North Carolina
[3]. Allouche, J., Laroche, P., 2006. The Relationship Between Corporate Social Responsibility and Corporate Financial Performance: A Survey. Palgrave MacMillan, New York. pp. 3–40.
[4]. Belal, A.: 2001, ‗A Study of Corporate Social Disclosures in Bangladesh', Managerial Auditing Journal 15(5), 274– 289.
[5]. Bowman, E.H., Haire, M., 1975. A strategic posture toward corporate social responsibility. California Management Review 18, 49–58.