IOSR Journal of Business and Management (IOSR-JBM)

Volume 14 - Issue 2

Paper Type : Research Paper
Title : Production Planning and Corporate Productivity Performance in the Nigerian Manufacturing Industry
Country : Nigeria
Authors : G. I. Umoh, Ify Harcourt Wokocha, Edwinah Amah
: 10.9790/487X-1420107      logo

Abstract: Production Planning has existed in the Nigerian manufacturing industry over the years but has failed to deliver the promised goods of accelerated development of the economy. This paper investigates the relationship between Production Planning and Corporate Productivity Performance of the Nigerian manufacturing industry In this respect Corporate Productivity Performance is measured in the areas of cost minimization, enhanced equity capital and growth. Three hypotheses were formulated and questionnaire were distributed to eighty respondents in the eighty sampled manufacturing firms from the one hundred in the industry, quoted in the Stock Exchange(Fact Book 2009). Sixty two copies of the questionnaire were retrieved. These with the financial statements of the firms for a period of five years, were used for the analysis. From its findings, the study revealed that production planning has significant impacts on operational efficiency, enhanced equity capital and growth of Nigerian manufacturing industry. This finding implies that production Planning significantly affects the Corporate Productivity Performance of firms. Based on these, the study recommends among others, that the Nigerian manufacturing industry should review their production planning concepts and implementation, in order to restore the industry as the base of all development.

Keywords: Production Planning, Corporate Productivity Performance.

[1]. Abrahamson, F.A. and Pickle, G. (1990) "The Interface of Production and Marketing – An Empirical Analysis"; Journal of Industrial Marketing; 7 (1): 212-236.
[2]. Agbadudu A.B. (1996) Elementary Operations Research 2, Benin: Mudiaga Press
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[5]. Brayton, G.N. (1983). "Simplified Method of Measuring Productivity Identifies Opportunities for Increasing It". Industrial Engineering. February
[6]. Buffa, E.S. (2001) Production and Operations Management, New York: Krieger Publishing
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[10]. Davis, H.S. (2005). Productivity Accounting. University of Pennsylvania.

Paper Type : Research Paper
Title : Employee Retention: A Review of Literature
Country : India
Authors : Bidisha Lahkar Das, Dr. Mukulesh Baruah
: 10.9790/487X-1420816      logo

Abstract: Human resources are the life-blood of any organization. Even though most of the organizations are now a days, found to be technology driven, yet human resources are required to run the technology. They are the most vital and dynamic resources of any organization. With all round development in each and every area of the economy, there is stiff competition in the market. With this development and competition, there are lots and lots of avenues and opportunities available in the hands of the human resources. The biggest challenge that organizations are facing today is not only managing these resources but also retaining them. Securing and retaining skilled employees plays an important role for any organization, because employees' knowledge and skills are central to companies' ability to be economically competitive. Besides, continuously satisfying the employees is another challenge that the employers are facing today. Keeping into account the importance and sensitivity of the issue of retention to any organization, the present study tries to review the various available literature and research work on employee retention and the factors affecting employee retention and job satisfaction among the employees.

Keywords: Human resources, employee retention, job satisfaction, literature.

[1]. Maertz, C.P., Jr., & Campion, M.A. (1998). 25 years of voluntary turnover research: A review and critique. International Review of Industrial and Organizational Psychology, 13, 49- 81.
[2]. Denton, J. (2000), "Using Web-based projects in a systems design and development course". Journal of Computer Information Systems, Vol. 40 No.3, pp.85-7
[3]. Stauss, B., Chojnacki, K., Decker, A., Hoffman, F. (2001). "Retention effects of a customer club", International Journal of Service Industry Management, Vol. 12 No.1, pp.7-19.
[4]. Cutler, G. (2001). Internet summons Pete to jump ship. Research Technology Management
[5]. Steel, R.P., Griffeth, R.W., & Hom, P.W. (2002). Practical retention policy for the practical manager. Academy of Management Executive, 16, 149-162.
[6]. Amadasu, D.E. (2003). "Personnel and the Nigerian Management Crisis: Ajaokuta Iron and Steel Mill Examined." Abuja Management. Rev. 1:4
[7]. Taplin, I.M., Winterton, J.,Winterton, R.,2003."Understanding Labour Turnover in a Labour Intensive Industry: Evidence from British Clothing Industry." Journal of Manage. Stud. 40:4.
[8]. Acton, T., Golden, W.(2003). "Traning the knowledge worker: A descriptive study of training practices in Irish software companies". Journal. Eur.Ind. Train, 27(4):137-146.
[9]. Kaliprasad, M. (2006). The human factor I: attracting, retaining, and motivating capable people. Cost Engineering, 48(6), 20–26.
[10]. Fitz-enz, J. (1990).Getting and keeping good employees. In personnel. 67(8): 25-29.

Paper Type : Research Paper
Title : Appllication of Marketing Concept in the Hospitality and Tourism Industry in Akwa Ibom State, Nigeria: An Evauation
Country : Nigeria
Authors : Okokon Attih
: 10.9790/487X-1421722      logo

Abstract: Hospitality and tourism industry comprises businesses involve in the provision of accommodations, foods, recreational centers for visitors or travelers, comfort and catering services for others. The purpose of this paper was to identify and examine the benefits to be derived when marketing concept is applied effectively in the hospitality and tourism industry. The paper was based on descriptive research design. The article analyses marketing variables and how they influence customer patronages. Some recommendations made include, the operators of the hospitality and tourism industry should apply the marketing concept effectively to have an edge over its competitors, they should embrace the concept for a better economic gain to the organization, experts in the field of marketing should be employed to ensure effective an efficient application of the marketing concept.

Keywords: marketing concept, Hospitality, Tourism, Akwa Ibom State, Nigeria.

[1]. AKS (2013) Akwa Ibom State of Nigeria: Hotels and Tourism Directory.
[2]. Adeyemo, W . B. (2005): Hospitality Marketing, Lagos, Adeyz Consulting and Publishers.
[3]. Agbonifoh, B. l (1998): Marketing in Nigeria, Concept Principles and Decision, Aba, Afritower Ltd, Publishers.
[4]. Aleje, A . O. (2000): Enhancing Marketing Performance in This Millennium through Total Quality Management (TOM), Marketing Journal vol.5, No.2.
[5]. Anyanwu, A.(1993): Dimension of Marketing, Okigwe, Imo State, Avan Global Publications.
[6]. Busch, P . S. and Houston, M. J. (1985): Marketing Strategic Foundation, Homewood, Illinois, Richard D. Irwin Inc.
[7]. Chigozie, O. U. (2007): Application of Marketing Concept in the Hospitality Industry, International Research Journal for Development, Vol.9, No.1
[8]. Essien, E. E. (2006): Entrepreneurship; Concept and Practice, Uyo, Abaam Publishing Company.
[9]. Evan, J. R and Berman, B. (1995): Principles of Marketing, New Jersey, Prentice Hall Inc.
[10]. Hunt, D. S. (1983 ): General Theories and the Fundamental of Marketing, Journal of Marketing Vol.2, No.5

Paper Type : Research Paper
Title : The Impact of Capital Market on Nigeria's Economic Development (1989-2006)
Country : Nigeria
Authors : Jamala, G.Y., Abubakar A., Asongo, A, Joel, L.
: 10.9790/487X-1422329      logo

Abstract: This study was conducted to examine the impact of capital market on Nigeria's economic development and also to analyse the roles of capital market variables on Nigerian economic development. The methodology adopted involved the use of regression analysis. The data obtained was from 1989 to 2006. The sources of data obtained were from Nigerian Stock Exchange (NSE) and Central Bank of Nigeria (CBN) Statistical Bulletin, 2006. One model was used and specified, that is the real gross domestic product (RGDP) as the dependent variable and the explanatory variables (b0, b1, b2, b3, b4) which includes value of transactions (VOT), All share index (ASI), Foreign Private Investment (FPINM) and Market Capitalization (MCAP). The R2 for the estimate was 0.97 and it was the highest the adjusted R=0.96. This implies that about 97% variation in the real gross domestic product output is explained by the explanatory variables. That is, there was positive relationship between the dependent and independent variables. In order to test the hypothesis stated, the t-value and 2 tailed p-values were used. H0: This stated that there was no significant impact of capital market on Nigeria's economic development. That is the coefficient or parameter is zero (0) was rejected since the p-value (0.000) when compared to the alpha level (P<0.05) is small. This shows that the capital market has significant impact on Nigeria's economic development and hence the H0 is rejected and H1 is thus accepted and conclude that the capital market has a significant impact on the Nigeria's economic development.

Key words: Economic development, Capital market, Gross domestic product, Impact

[1]. Afolabi, L. (1999). Monetary Economics, Educational Books (Nig), Ibadan
[2]. Adenikinju, A. (1994), "Trade liberalization, market and productivity in Nigeria, African Economic Research Consortium. Nairobi
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[5]. CBN Annual Reports and statement of Accounts 2006, various Issues
[6]. Dada,I.O.(2003). The Nigerian Capital Market. Spectrum Books (Nig), Ibadan
[7]. Jerome, A and Adenikinju, A (1995), Trade policies and the promotion of manufactured Exports in Nigeria. Proceeding of Nigeria Economic Society Annual Conference. (1995), Ibadan
[8]. Koutoyiannis, A. (2003), Theory of Econometrics. Palgrave publishers, London
[9]. Iwegbu, Z. K. (2004). Shareholdings; steps to Financial Empowerment.
[10]. Odife, D. O. (1999). Understanding the Nigerian stock exchange. Heinemann Educational Books (Nig), Ibadan

Paper Type : Research Paper
Title : Interest Free Banking: A Case Study in Pakistan (1980-2010)
Country : Pakistan
Authors : Muhammad Faseeh ullah khan
: 10.9790/487X-1423040      logo

Abstract: A number of economic concepts and techniques were applied in early Islamic banking including Mufawada, Mudarabah and Al-mal as existed in the medieval Islamic world. Interest free banking attracts more attention because of the political interest. The most controversial issues about interest free banking are the profit and loss sharing formula (Concept of Mudarabah). Disenchantment with the value neutral capitalist and socialist financial systems prompted not only Muslims but also others to look for ethical values in their financial dealings, and in the west some financial organizations have opted for ethical operations. It is in the course of brain storming for proffering solution to unpalatable state of our economy's financial system that the prescribe for Islamic banking (Non-interest banking) in Pakistan is being agitated for. The focus of this project is to assess and overview of Islamic banking and finance in Pakistan. This research work is an historical research and based on secondary data.

Keywords: Riba, Shariah, Banking, Conventional, Banks, Islamic Banks.

[1] Abdallah, A., 1987. 'Islamic banking', Journal of Islamic Banking and Finance, January-March, 4(1): 31-56.

[2] Aftab, M., 1986. 'Pakistan moves to Islamic banking', The Banker, June: 57-60.

[3] Bruce, N.C., 1986. 'Islamic banking moves east', Euro money, July: 142-5.

[4] Chapra, M. Umer, l982. 'Money and banking in an Islamic economy' in M Ariff (ed.), above.

[5] El-Asker, A.A.F., 1987. The Islamic Business Enterprise, Croom Helm, London.

[6] Karsten, I., 1982. 'Islam and financial intermediation', IMF Staff Papers, March, 29(1):108-42.

[7] Khan, M. S.,1986.'Islamic interest-free banking', I M F Staff Papers, March, 33(1):1-27.

[8] Khan, Muhammad Akram, l968. 'Theory of employment in Islam', Islamic Literature, Karachi, XIV (4): 5-l6.

[9] Nienhaus, V., l983. 'Profitability of Islamic PLS banks competing with interest banks: problems and prospects', Journal of Research in Islamic Economics, l(l):37-47.

[10] Partadireja, Ace, 1974. 'Rural credit: the Ijon system', Bulletin of Indonesian Economic Studies, 10 (3): 54-71.

Paper Type : Research Paper
Title : Factors Affecting Customer Satisfaction and Customer Loyalty towards Belle Footwear Company in Lanzhou City, Gansu Province of the People's Republic of China
Country : Thailand
Authors : Jiao Li
: 10.9790/487X-1424148      logo

Abstract: The shoe industry in China now faces grim challenges due to rapidly changing tastes of shoe buyers and fierce competition in the footwear market. Besides, shoes marketers are increasingly concerned about how to keep the good and long term relationship with customers and also increase customer loyalty at shoe stores. This research focuses on customer satisfaction and customer loyalty of footwear products in Lanzhou, China. The purpose of this research is to explore the possible antecedents of customer loyalty among Belle shoes store customers. The researcher theorizes and investigates that there is a positive relationship between image, price, perceived quality (in terms of reliability, tangibles, empathy, responsiveness and assurance) and perceived value with customer satisfaction, which in turn, significantly influences customer loyalty towards Belle Footwear Company. 400 self-administered questionnaires were distributed to respondents. The results of this study indicate that all independent variables (image, price, reliability, tangibles, empathy, responsiveness, assurance and perceived value) have a significant relationship with the intervening variable (customer satisfaction) and dependent variable (customer loyalty). Shoe marketers will have a better understanding about Chinese consumers and also could learn to improve their strategies to improve their product quality and gain more customers to extend their market size.

Keywords: Customer satisfaction, customer loyalty, footwear, perceived value, perceived quality

[1]. L. De Chernatony, M. McDonald, Creating Powerful Brands in Consumer, Service and Industrial Markets, 3rd ed., (Elsevier, Oxford, 2003)
[2]. K.L. Keller, Strategic Brand Management: Building, Measuring and Managing Brand Equity, 3rd ed., (Prentice-Hall, Englewood Cliffs, NJ, 2008)
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Paper Type : Research Paper
Title : A Study on Financial Distress in Indian Steel Industry under Globalization
Country : India
Authors : Shrabanti Pal
: 10.9790/487X-1424953      logo

Abstract: The present study was an attempt to determine the financially healthy and weak steel companies in India to assess overall industrial condition by applying discriminant analysis for the study period of twenty years since 1991-92 to 2010-11. The study was conducted on ten Indian steel companies whose market share was more than 77 percent in 2009-10. Initially the study as started with eight financial ratios selected from different areas like profitability, liquidity, solvency and efficiency. A strong discriminant function was developed with three ratios found to be significant in discriminating power and classification results. Profitability and efficiency ratios such as return on investment, debtor turnover ratio and fixed assets turnover ratio are most important indicator to distinguish between financially healthy and financially weak companies. Hence, to become financially healthy the steel companies must try to improve return on investment by applying proper debtor and fixed assets management policy in Indian context.

Key words: Indian steel industry; Discriminant analysis; Financial distress in Indian steel industry, Overall financial health of Indian steel industry

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Paper Type : Research Paper
Title : Production Planning and stocking of Life-Saving Essential Medicines at Vendor's and Buyer's End [A Real Case Study and Suggested Feasible Solution]
Country : India
Authors : Viranchi A. Shah, Dr. Pradeep J. Jha
: 10.9790/487X-1425463      logo

Abstract: Decision related to production and supply of life saving medicines to avoid out-of-stocks situations is very critical. Fundamentals of VMI (Vendor Managed Inventory) and CPFR (Collaborative Planning, Forecasting and Replenishment) are well established concepts. Keeping these as central, the alternatives are sought and implemented to arrive at optimality in terms of solutions to many pending problems. Many pharmaceutical companies are looking at finding solution to this problem to maintain continuity of their stocks of life saving medicines. This study attempts to provide two alternatives which have proved successful and cost-effective.

[1]. Goyal,S,K. (1995), A one-Vendor multi-buyers integrated inventory model - A comment, European Journal of operation Research, 82, 209-210
[2]. Jha, Pradeep, J (June-2013), Buyer- Vendor integrated system- the technique of EOQ dependent shipment size to achieve steady level and cost minimization, ISOR Journal of Mathematics( ISOR-JM), 46-57
[3]. Rajmanohar, T,P, (2008),Inventory Optimization Introduction , The ICFAI University Press

Paper Type : Research Paper
Title : Mediating effect of strategic orientation on the relationship between dynamic capabilities and competitive advantage of small and medium retail enterprises in Kenya
Country : Kenya
Authors : Grace Kiiru, Dr. Mike Iravo, Dr. Margaret Oloko
: 10.9790/487X-1426469      logo

Abstract: According to the Vision 2030, Kenya intends to become a Globally Competitive and Prosperous economy. It aims to transform Kenya into a newly industrializing, "middle-income country providing a high quality life to all its citizens by the year 2030". Remarkable transformation has seen the entry of large shopping malls examples the Sh450 million shopping mall developed by Oasis Capital having 300 parking spaces, several supermarkets, cinema halls, conference centers and offices plus the coming soon multinational Scandinavian supermarket chain, IKEA, which specializes in furniture. Fierce competition from mass merchandisers, changing demographics and shifting consumer purchasing patterns is threatening the very survival of the local small and medium retailers with statistics already indicating a slow decline in their performance.

Keywords: competitive advantage, sensing, seizing and reconfiguration capabilities, customer and competitor orientation

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[2] Sessional paper No. 10 of 2012 on Kenya Vision 2030 Citibank survey report, 2012

[3] Deloitte report, (2011). Hidden heroes, next generation retail markets. Deloitte Global Services Limited, London

[4] Barney, J. B. & Clark, D.N. (2007). Resource-based theory: Creating and sustaining competitive advantage, Oxford University press, Oxford.

[5] Deshpande, R., & Farley, J. U. (2004). Organizational culture, market orientation, innovativeness, and firm performance: An international research odyssey. International Journal of Research in Marketing, 21(1), 3-22.

[6] Tzokas, N., Carter, S., & Kyriazopoulos, P. (2001). Marketing and entrepreneurial orientation in small firms. Enterprise and Innovation Management Studies, 2 (1), 19–33.

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[8] Menguc, B., Auh, S., & Shih, E. (2007). Transformational leadership and market orientation: Implications for the implementation of competitive strategies and business unit performance. Journal of Business Research, 60(4), 314-321.

[9] Porter, M. (1980). Competitive Strategy: Techniques for analyzing Industries and Competition, New York: Free Press

[10] Porter, M. (1985). Competitive Advantage. Creating and sustaining Superior Performance. The Free Press, New York.

Paper Type : Research Paper
Title : Some problems in determining the free risk rate of return
Country : Macedonian
Authors : Diana Boskovska
: 10.9790/487X-1427073      logo

Abstract: One of the key factors in investment analysis is the risk free rate of return. The interest rate on a government bond is considered a risk free rate of return, but the bond should be free from the risk of non-payment and reinvestment risk. However, the practical determination of the risk free rate can often be followed by a number of difficulties. Therefore, in this paper we discuss the difficulties faced by an analyst in determining the risk free rate of return on investment and portfolio analysis such as: - Lack of long-term government bonds on the capital market - Exposure to the risk of government default - Change the risk free rate of return over time. Keywords: capital market, securities, cost of capital, risk, free risk rate of return.

[1] Boskovska D., The free risk rate of return and factors that affects its assessment, IOSR-JBM, Volume 9, Issue 4, 2013, 88-92.

[2 ] Damodaran A., What is the riskfree rate? A Search for the Basic Building Block, New York University -Stern School of Business, December, 2006.

[3] Damodaran A., Investment valuation: tools and techniques for determining the value of any asset,(Thrid Edition, Wiley, Hoboken N. J., 2012).


[5] Damodaran A., What is the riskfree rate? A Search for the Basic Building Block, Stern School of Business, 2008,

Paper Type : Research Paper
Title : The Doom of Employees' Training in Public Service – A Case Study of Ministry of Education in Kenya
Country : India
Authors : Jacob M. Mbijjiwe, Prof. P. Venkataiah
: 10.9790/487X-14274104      logo

Abstract: Employee training, whether in private or public sector is a mandatory exercise if the employees have to deliver what is expected of them. Many times organizations have failed to achieve their objectives simply because the employees lack the motivation, skills or the new technical knowledge that is required for one to be effective in the current job environments. To assess the success and failures of employee training in the public service in Kenya, the Ministry of Education was sampled out for study. Questionnaires were used to gather data from 364 employees out of the 5000 employees of the Ministry. Averages, ratios, standard deviation and analysis of variances (ANOVA) were some of the tool used to analyze the data. Implementation of various HRD practices across job groups, experience levels and departments was studied and revealed glaring gaps between what was proposed in training manuals and what was actually happening.

Keywords: Evaluation, Induction, Orientation, Policies, TNA

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