“VOLUME 5, ISSUE 9″  Under QS Publications – Sep-2016

[1]-Sales and Marketing: From the Top.
Author Details: Moiz A. Siddiqui
Abstract: Sales and marketing are two critical components of any organization involved in business, without them, the very existence of an organization is not conceivable. Despite of their significance, the precise differences between the two always remain under a cloud of confusion. Therefore, this article presents a detailed account on the differences between sales and marketing. The differences are described in a three step manner: 1) From a historical perspective 2) By definitions available in the literature and 3) Functionality of both the components in an organizational setting. It is also indicated that both the components should have a certain amount of independency from one another with regards to daily operations however, at the same time, sales and marketing must be completely integrated for planning and development of strategy. Finally, also mentioned are the differences which impart a positive impact on the organization and those, which can be deleterious to the organization.
Keywords: marketing, sales, differences
[Download Full PDF] [Page 01-10]

[2]-The Impact of Corporate Governance on Financial Performance: An Empirical.
Author’s Details: Corresponding Author: ⁽¹⁾Muhammad Rizwan, Assistant Professor Dow University of health Sciences ⁽²⁾Humera Asrar, Lecturer Dow University of Health Sciences ⁽³⁾Noman Alam Siddiqui,   Director Dow University of Health Sciences ⁽⁴⁾Waqar uddin Usmani, Assistant Professor, BizTech institute
Abstract
Pakistan is an emerging economy which is based on financial performance of business organization. Sustainable financial growth of corporations depends on effective board performance. The study aimed to reflect the presence of effective principle based corporate governance in Pakistan and its impact on financial performance of a company. The reason to select this topic is, that in Pakistan as yet the complete model of financial performance have not been used to find out the above said relationship. The data was collected from top 20 companies which got registered in the Karachi Stock Exchange during the period 2007 to 2014. Financial performance of these organizations were measured by different financial ratios like Tobin’s Q, ROA, MB, ROE and etc. while the inside ownership, board size, board independence, board diversity, presence of audit and remuneration committees and dividend payout ratios were taken as indicators of the corporate governance under the guide lines of the code of corporate governance 2002 and 2012 regulated by the Security and Exchange Commission of Pakistan (SECP). Results revealed that the inside ownership, board size, presence of independent/non-executive directors, dividend payout ratio and presence of audit committee had significant impact on organization’s financial performance while the presence of remuneration committee and board diversity had no impact on firm’s financial performance.
Key words: corporate governance. Financial performance, Pakistan, SECP
[Download Full PDF] [Page 11-27]

[3]-Disclosure of EVA in the Financial Statements: Experience of an Asian Economy
Author Details: Dr. Madan Lal Bhasin-Professor, School of Accountancy, College of Business, Universiti Utara Malaysia, Sintok, Kedah Darul Aman, Malaysia
Abstract:
In the 21^st century, investors, creditors, analysts and other stakeholders are now requiring much more insight about company’s performance, strategic direction and exposure to risk. This paper explains the concept of Economic Value Added (EVA) that is gaining popularity in India. We also examine whether EVA is a superior performance measure, both for corporate disclosure and for internal governance. Of late, companies in India have started focusing on shareholders wealth creation by adopting value-based models for measuring shareholder value that helps to align managerial decision-making with the firm preferences. In recent years, the EVA framework is gradually replacing the ‘traditional’ measures of financial performance on account of its robustness and its immunity from ‘creative’ accounting.
Even though some leading Indian companies have already joined the band wagon of their American counterparts in adapting the EVA-based corporate performance systems, many other are hesitating as there is no strong evidence that the EVA system works in India. Till now, EVA disclosures are “not mandatory for the Indian companies.” Also, we examine the value-creation strategies of selected Indian companies by analyzing whether EVA better represents the market-value of these companies in comparison to conventional performance measures. In this regards, EVA and the conventional measures of corporate performance, such as, RONW, ROCE and EPS are analyzed. Moreover, ANOVA, trend analysis and regression analysis are used for analyzing the data. The study indicates that “there is no strong evidence to support Stern Stewart’s claim that EVA is superior to the traditional performance measures in its association with MVA.” As part of this study, we have also extensively surveyed the EVA disclosures in the Annual Reports made by the same sample group of 500 corporations from India. During 2010-11, just 17 Indian companies, from a sample of 500, were providing EVA disclosures in their annual reports.
Keywords: Economic Value Added, Market Value Added, Corporate Performance Measures, Shareholders Wealth, Value Based Management, Empirical Analysis.
[Download Full PDF] [Page 28-46]

[4]-Econometric Models Of Attracting Investment Into Production Industry.
Author Details: Ilyos Abdullaev-Urgench State University, Uzbekistan, candidate of economics science, senior lecturer – 220100 Urgench, Uzbekistan
Abstract:
In this article, is analysed relationship between GDP and investments and proven on the basis of econometric models. Model of GDP determination is built on the basis of Solow model with the help of Cobb-Douglas production function. Econometric models for calculating the effectiveness of attracting more investment to production in Uzbek economy are analyzed using dynamic econometric models constructed using Solow model.
Key Words: Investment costs, investment limits, capital resources, the main production funds, human resources, economic dynamics model.
[Download Full PDF] [Page 47-50]

[5]-Mass Media: Veritable Tool in Curbing Corruption for Sustainable Peace and Development in Nigeria?
Author Details: Touitou, Tina.C-Department of Mass Communication, Babcock University, Iishan-Remo, Ogun State, Nigeria
Abstract
This paper focuses on the role of the mass media in curbing corruption to aid sustainable peace and development in Nigeria. Transparency International, an independent global watch on corruption ranks Nigeria among the five most corrupt nations in the world, an inglorious record that has stunted growth, peace and development in all areas in Nigeria. These are impediments to national development, especially, in the vision for Nigeria becoming one of the 20 most developed economics in the world by the year 2020. This paper employed agenda –setting theory and observational learning and imitation behavior theory, and concluded that the fight against corruption must be one of the topmost priorities of the government at all levels in Nigeria. The media should be encouraged to develop and enforce adequate standards of conduct regarding their professional competence and their objectivity so that they would avoid any temptations of accepting gifts, envelopes, fare or any other support that would interfere with their free reporting. And it recommended that since, there are enough rules to prevent corruption, the application of such rules should be applied in a blanket form, and not randomly, this will instill fear into all the stakeholders. And the Organizations engaged in the fight against corruption can use media as allies and as vehicle for their work to improve their chances of success, their effectiveness and their sustainability.
Key Words: Mass Media, Corruption, Agenda-setting Theory and Brown Envelope
[Download Full PDF] [Page 51-61]

[6]-Management Skills; Gaining Organizational Effectiveness
Author Details: Sobana Hameed Arshad – Student (Final semester): PhD (Organization and Management) –
Okan University, Istanbul, Turkey
Abstract
This article delineates the marked effect of Management skills in gaining Organizational effectiveness in attaining focal objective and latter manifest that how management and organization, together make environment productive and enhance the interpersonal skills. By management artistries such as Leadership skills, Time management, Self-management, motivation, Training coaching, Involvement, Plan, Organize, direct, control, Organization makes Strategic planning, Acquisition integration, Project management, Customized sessions, Meeting facilitation, Culture assessment, Team development. From the literature, a brief history of ongoing researches on the topic will be elaborated to provide the significance of the need to use the management skills in the most effective manner for gaining organizational constructive output.  
Keywords: Management skills, Organization planning, Organization effectiveness.
[Download Full PDF] [Page 62-76]

[7]-Temporary Foreign Labour: A critical Success Factor for the Clothing and Textile industry in Mauritius
Author’s Details: Chan Sun C. Alain, Open University Mauritius, Dr. H. Chittoo, Associate Professor, University of Technology, Mauritius, Dr. K.S. Sukon, Director General, Open University Mauritius
Abstract
One of the biggest challenges for the Clothing and Textile (C&T) industry in Mauritius is the shortage of labour that has prevailed over the past 10 years. In view of coping with the situation, many companies had recourse to Temporary Foreign Workers (TFW) (also known as foreign workers) as one of the immediate short term solutions. Actually, the C&T industry in Mauritius is one of the biggest employers of TFW in Mauritius representing 40% of the total workforce of the Export Oriented Enterprises (EOE) and 50.8% of the C&T industry. This situation is getting worse as one side there have been an increasing trend of import of TFW over the years and on the other there has been an increasing trend of unemployment among local workers which was qualified as a “Paradox” by local authorities. The aim of this study is to demonstrate that TFW is a critical success factor for the C&T industry in Mauritius.  The study also revealed that the C&T industry is already dependent and will be dependent on TFW for the next five years if the C&T companies want to maintain competitive advantage over our competitors. A mixed methodology used in this study has provided through the qualitative study the reasons for mismatch in the labour market where unemployment among local is becoming a major concern. This study also provides the base for future research in this field where no research work was conducted on the role and contribution of TFW in Mauritius. This provides to the stakeholders an insight of the labour market situation in the industry for future manpower planning.
Key words: Foreign labour, Temporary Foreign Workers, Labour market, Clothing and Textile industry, Mauritius, EPZ, Apparel industry, labour force, mismatch, labour shortage.
[Download Full PDF] [Page 77-88]