Vol 3 Issue 1 April 2015-September 2015

Abstract:  IFRS means International Financial Reporting Standards and International Accounting Standard Board – (IASB) provided the framework for its working. IFRS adopted by IASB has gained worldwide acceptance amongst many countries and some listed companies in European nations have embraced it. IFRS employs a uniform, single consistent accounting framework that is gravitating towards General Accepted Accounting Practice (GAPP) in the future. IFRS since its introduction in 2001 had provided uniform accounting in financial reporting which would enable investors to interpret financial statements with minimum effort. The paradigm shift in the economic environment in India during last few years has led to increasing attention being devoted to accounting standards as a means towards ensuring potent and transparent financial reporting by any corporate. Indian Accounting Standards have withstood the test of time. As the world continues to globalize, discussion on convergence of national accounting standards with International Financial Reporting Standards (IFRS) has increased significantly. At present, the ASB of ICAI formulates the AS based on IFRS. However, these standards remain sensitive to local conditions, including the legal and economic environment. As the world continues to globalize, discussion on convergence of Indian GAAP with IFRS has increased significantly.

Keywords: Accounting standards, IFRS, IASB, Stakeholders

Title: IFRS in Indian Context

Author: Ratheesh R J,  Anjula C S

International Journal of Management and Commerce Innovations 

ISSN 2348-7585 (Online)

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Abstract: In the current time, food price inflation is inevitable due to the fact that the many countries in the world have globalised and liberalised their economy. The economies in the world now are very much integrated as compared to previous centuries. Any supply or demand fluctuations in major commodity producing countries will influence the global price of the commodities including food prices. Rapid rise of population and growing economies have also put a lot strain on food production and supply hence driving up the food price. The free market principles are not perfect since there is no such thing a perfect market in the world and many countries in the world are not a closed market since majority of the countries are trading economies. Hence, measures like subsidy have to be taken to address market imperfections and unequal wealth distributions. Specifically to food subsidy, food price ceilings and food coupons are one of the common ways to mitigate the impact of the rising food inflation. This paper will begin the topic by discussing the social impacts of poverty and food inflation to a country and the importance of mitigating it. Then, this paper will attempt to discuss the role of food price ceilings and food coupons in mitigating the impact of food price inflation. The advantages and disadvantages of both systems will be discussed. Finally, the paper will conclude that between these two options, food coupon is a better subsidy than food price ceiling approach.

Keywords: Price ceiling, food coupon, subsidy, infaltion.

Title:  The Role of Food Price Ceilings versus Food Price Coupons in Mitigating the Impact of Food Price Inflation

Author: Mohamad Haidir Hashim, Ruslan Sabirzyanov

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract:  E-learning has become one of the tools for upcoming students to have a broader and modern perspective about education. India has become a motherland for IT sector; in this juncture to cope up with the requirements many employees are doing the courses in correspondence by listening to the lectures through e-learning.

Effective e-learning comes from using information communications technology (ICT) to broaden educational opportunity and help students develop the skills they and their countries need to thrive in the 21st century. In e-learning students are more engaged and able to develop 21st century skills.  Teachers have a more positive attitude toward their work and are able to provide more personalized learning.  Family interaction and parental involvement may increase. The present research paper focuses on students and lecturers perspective regarding e-learning merits and demerits as well as draws on in-depth qualitative comments from student evaluation of an e-learning module.

Keywords:  E-learning, students perspective, lecturers perspective, traditional learning, Comparison, ICT. 

Title: A Study on Students and Lecturers perspective towards E-learning

Author: Vidya shree D V, Yamuna, Nithyashree, Neha, Nayana

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: The literature on corporate governance has stirred a lot of debate and led to the large body of theoretical and empirical research. The study examined how the corporate governance of selected public companies in Kenya affects the financial performance during the period 1998 to 2004. Financial   performance was measured by use of profitability. The study mainly focused on public listed in Nairobi securities exchange. A sample of public 26 companies was drawn using purposive sampling. Both descriptive and inferential statistics were used. Data was analyzed using a multiple linear regression model. The study found that a strong relationship exist between the Corporate Governance practices under study and the firms’ financial performance. There was a positive relationship between board members and firm financial performance. Thus the study reveals that generally corporate governance is important in the financial performance of the company.

Keywords: corporate governance, board members, management, audit committee and financial performance.

Title: Effect of Corporate Governance Practices on Financial Performance of Public Limited Companies in Kenya

Author: OCHOI ONG’ONDO DOMINIC, DR. FLORENCE MEMBA

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Economy is one of the important tools in the upbringing of human’s civilization. Looking back at the Golden Age of Islam, Muslims merchants were all over the world not just for trading purposes but also to spread the beautiful teaching of Islam. During the reign of Caliph Harun al-Rashid (170-193 A.H.) the Muslim world experienced the best moment where each members of the society was taking part in the economic activities as they wanted to contribute to the society. Thus, it led to the level of almost no poverty at all (Ismail, 2012). History also portrayed that Prophet Muhammad sallahu’alaihiwasallam and many of the sahabah were successful businessmen. However, it seems the world has gone upside down where most of the Muslims nowadays have been left far behind and live in poverty and abused by others. Therefore, the role of Mosque need to be revised on the basis of Islam as a syumul religion which comprises all life segments including the economy or muamalat. e-Halal One Stop Centre (e-HOSC) is being proposed to help the Muslim entrepreneurs especially to those who are still searching for the best platform to market their products with zero cost and in the same time helping the consumers to find halal products from Muslim producers. This program is the extension of eHalal4All Program (Abdul Rahman Ahmad Dahlan et al, 2014), with the aim to enhance the economic and social well being of rural communities in Sabah, Malaysia. e-HOSC will be maintained and supervised by Masjid Negara (National Mosque) supported by Jabatan Kemajuan Islam Malaysia (JAKIM) and SME Corp as the centre and will be integrated with all mosques in Malaysia via Network-of-Mosques (NoM). Masjid Negara is being proposed as the administrator as one of its functions is to make a range of activities for Muslim community and it is an established organization where it has publication and multimedia unit which can be assigned to manage e-HOSC portal. Literature review and Business Model Canvas will be used as the methodology approach. Also, we would adapt the concept used by online marketplaces like Amazon.com or Mudah.my and leveraging on mobile apps to ensure the acceptance, reliability and efficiency of the program. This program is expected to enhance the Muslim entrepreneurs and increase their market shares and indirectly, people will be closer to the mosque and thus, proved the completeness of Islam as the way of life.                   

Keywords: mosque, online marketplace, Business Model Canvas, networking, mobile apps.

Title: Transformation of Masjid: Empowerment of Muslims Economy through E-Halal One Stop Centre (E-HOSC)

Author: Abdul Rahman bin Ahmad Dahalan, Intan Munirah binti Zakaria, Nour Tiara Natasha binti Mohamed Azizan, Nur Isharra binti Abdullah

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Based on survey qualified, a sufficient sample of 350 employees working at five fishery enterprises located in the Mekong Delta, Vietnam is employed. In order to identify how to meet employee’s job satisfaction and loyalty, exploratory factor analysis (EFA) is used. Four factors extracted in EFA, leadership skill, payment, working environment, capacity building. With two alternative models used of multiple regression and logit, findings confirmed employees’ job satisfaction is significantly impacted by leadership skill, payment, working environment, building capacity. This means that a good leader, attractive payment, good working environment conditions and policies concerning capacity building, significantly cause the increasing in the employee’s job satisfaction. The leadership skill has the best positive influence on the job satisfaction, confirmed by two models. Additionally, two alternative models also find a statistically significant effect of job satisfaction on employee loyalty. An increase in job satisfaction derives a raise in employee loyalty.

Keywords:  job satisfaction, employee loyalty, regression model

Title: Employee and Fishery Enterprise Relationship: The Case of Mekong Delta, Vietnam

Author: Tu Van Binh

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: The culture of knowledge creation and knowledge sharing play very important role in the successful implementation of Knowledge Management in any Public or Private Institution of Higher Learning. A literature review study is being conducted to explore the culture of Knowledge Creation (KC) and Knowledge Sharing (KS) among the Community of Practice (CoP) in Malaysian Public Institution of Higher Learning (IHL) and the possible framework that has been practice in the education field.

Keywords: Culture, Knowledge Management, Knowledge Creation, Knowledge Sharing, Institute of Higher Learning, Malaysia

Title: The Culture of Knowledge Creation and Knowledge Sharing In Successful Institute Of Higher Learning (IHL): A Literature Review

Author: Nurul A’tiyah Binti Ahmad Lotfi, Nur Faizah Binti Ab Aziz, Abdul Rahman Bin Ahmad Dahlan

International Journal of Management and Commerce Innovations 

ISSN 2348-7585 (Online)

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Abstract: Education is an essential process for every human being especially students. However, students need to be more concerned with their Intelligent Quotient (IQ) and their critical thinking’s skill. This paper intends to propose a conceptual solution that provides an E-learning development of students focusing on IQ and critical thinking knowledge. The paper is based on literature review, real world observations and adopting business model canvas (BMC) framework in building a conceptual solution for learning development of human talent to enhance students’ intelligent and critical thinking. The findings of this paper shows that cyber world, that use the creativity of ICT and Internet, has been widely used around the world by entrepreneurs to build businesses based on sound human values and principles that takes into account the numerous benefits and virtues offered to the people, planet, and profits.

Keywords: IQ, critical thinking, business model canvas, education, ICT, E-learning.

Title: E-Learning Enhancing Student’s Intelligent and Critical Thinking

Author: Abdul Rahman Ahmad Dahlan, Md.Amanullah, Muhammad Bin Adnan

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Indian retail sector is one of the most dynamic and sunrise industries in India. With Indian economy poised to grow at around 6 to 8%, Indian retail industry is poised to grow at CAGR of around of 30%. The volume of Indian retail sector is expected to be around 490 bn USD. As compared to other countries of the world like China where penetration rate is as high as 100%, in India the penetration of retail sector is merely 4 to 6%. There is a huge prospect for both the Indian as well as the foreign players in retail sector. Indian demographics are very very strong. With majority of population between age group of 25 - 40 years of age trends are very very favourable for Indian retail sector. Around 50% of Indian population falls in this age group. Moreover, the Indian retailing landscape is very very dynamic with increasing liberalization. One of the major limitation of the Indian retail sector is that is mainly dominated by the unorganized players and is highly fragmented.  Indian retail sector provides ample opportunity because there is a major chunk of Rural markets which provide opportunity for the retailers from all over the world. A huge spate of reforms has made Indian retailing industry a huge opportunity for players from all over the world. Indian retail sector is divided into various sectors on basis of quantum of spending. In Indian retailing sector around 70% of the retail sector comprises of the Food and Processing industry and around 30% of the industry comprises of the apparels, electronics, mobile and other equipments. Indian retail sector should aim at addressing the major challenges faced by the Indian industry such as increasing rentals, legal and regulatory complication, increasing competition and threat faced by the large unorganized sector from the organized sector. E - Commerce is the next best thing, as far as the Indian retail industry is concerned. With only 12% of internet penetration, there is a huge scope for the growth of the Indian retail sector. With changing legislations and increasing demand for private labels, increasing income and changing attitudes, there is a huge scope for growth and development of both Single and Multi Brand retail in India.

Keywords: Indian retail sector, growth and development.

Title: Retailing Industry in India

Author: Nishi Malhotra, Priya Malhotra

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: This paper gives a comprehensive explanation of Riba, an Arabic word for Interest. The paper defines, classifies and explains Riba with examples. It goes back to the origin of Riba, how it emerged and evolved over time and compares it with the contemporary practise. The paper also gives some rebuttals to arguments like, the current Interest is not Riba, and how is it that renting assets is fine while renting money is not and how is that a company incorporating a small portion of Interest is still classified as a Shariah Compliant company? It explains in detail how Riba affects economy and social life and the paper concludes with illustrating the destructive nature of Interest and how it is counterproductive, stops real growth, and is illogical, unjust and detrimental to the economy and society as a whole.

Keywords: Interest; Riba; Origin; Contemporary practice; Destructive nature.

Title: RIBA: A Recipe for Disaster

Author: Hamza Tariq Chauhan, Syed Ehsanullah Agha

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Economy is a system of collection and distribution of resources. However, loans nowadays imbalances the world economy by making the rich richer and the poor poorer. This paper intends to propose a conceptual solution that provides a holistic development of economy focusing on Zakat, Musharakah, Mudharabah and Baitulmal with “ukhrawi” (or Hereafter) elements. The paper is based on literature review, real world observations and adopting business model canvas (BMC) framework in building a conceptual solution for holistic development of Islamic economy. This paper explores the opportunity of providing holistic and balanced economy to entrepreneur by leveraging the baitulmal just like what the Prophet Muhammad’s ﷺ used to do during his time, and at the same time generating sustainable revenue and profit utilizing technology-based solution. The findings of this paper show that information system, through the creative use of ICT and Internet, can popularizes baitulmal function to entrepreneurs to build businesses based on sound human values and principles that takes into account the numerous benefits and virtues offered to the human beings, world, and profits.

Keywords: Zakat, Baitulmal, Musharakah, Mudharabah, asnaf, business model canvas, JAKIM.

Title: Islamic Transformation Centre – Leveraging On E-Baitulmal through the Quadruple Helix Model (QHM) Collaboration

Author: Abdul Rahman Ahmad Dahlan, Nur Shahirah binti Mohd Suhaili, Khairani binti Khalid, Nur Syamimi binti Ismail

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Today’s businesses compete with multi-product offerings created and delivered by networks, alliances and partnerships of many kinds. Both retaining customers and building relationships with other value-adding allies is critical to corporate performance. The adoption of C.R.M. is being fuelled by recognition that long-term relationships with customers are one of the most important assets of an organisation. The focus of CRM is on creating value for the customer and the company over the longer term. When customers value the customer service that they receive from suppliers, they are less likely to look to alternative suppliers for their needs .CRM enables organisations to gain ‘competitive advantage’ over competitors that supply similar products or services.

Keywords: C.R.M, relationships, organisations, customers

Title: The Customer Relationship management in terms of business practice in India

Author: Leny Michael

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: The higher education institution plays a crucial role as an educational organization for critical thinking for achieving academic excellence. Many good practices can be identified to support this role as a source of value creation to develop and deliver knowledge widely. The culture has a great influence to knowledge Management (KM) which operates in an institution. Knowledge creation (KC) and knowledge sharing (KS) of the university is a goal of KM by encouraging everyone recognize and participate on it as a desirable practice. KC includes the process of reproduce and create knowledge by knowledgeable people through their own and others experiences. Whereas, KS is the action of knowledge exchanged comprising information, skills, or expertise among people. Accordingly, fundamental elements of organization culture are belief, value and assumptions. These elements’ interaction describes the role of culture within an organization. This paper investigate the role of culture in the successful KC and KS within higher education institutions by examine the two world ranking university that has been mentioned in the literature review.

Keywords: Higher education, Academic Excellence, Knowledge Management, Knowledge Creation, Knowledge Sharing, Organizational culture, Role of culture.

Title: THE ROLE OF CULTURE: A SUCCESSFUL KNOWLEDGE CREATION (KC) AND KNOWLEDGE SHARING (KS) WITHIN HIGHER EDUCATION INSTITUTIONS

Author: Nurul Fahimah Bt Fakhri, Fatima Ahmed Mohamed, Abdul Rahman B. Ahmad Dahlan

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: The objective of the study is to determine knowledge management practices as basis for proposed knowledge management program. Findings revealed that there is a very significant difference in the assessment of the respondents regarding the extent of performing knowledge management practices and that there is a significant difference in the assessment of the benefits and challenges of knowledge management particularly between the administrators and student respondents.

Keywords: Knowledge, Knowledge management practices, Knowledge management

Title: Knowledge Management Practices of Selected Dental Schools in the National Capital Region: Basis for Proposed Knowledge Management Program

Author: Dr. Jocelyn Flores

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Cycling is a healthy, low-impact exercise that can be enjoyed by people of all ages, from young children and adults to older people. As enjoyable and economic it is, it is also good for the environment. Be it riding to work or for running chores, it is one of the most efficient ways to combine regular exercise with the everyday routine. Despite these benefits, there still remains the need to increase the base of cyclists by covering urban and rural areas equally. It is seen in metropolitan cities that cycling is not given much importance as a means to travel as the roads are not meant for cyclists, also there are other means of transportation which are more convenient for the people like bus, metro, cars. With the help of this paper we have tried to find out what promotional activities are undertaken by one of the leading cycles manufacturing company ATLAS in India, what type of cycles people prefer and how can the company promote its cycles more. The study was conducted in Rohtak city with the sample size of 50 and questionnaires were given to collect primary data.

Keywords:  Bicycles, Techniques of sales promotion, Advertising, Brand Ambassador.

Title: Promotional Strategies of Atlas Cycles

Author: Aprajita Malhan, Iahita Malhan

International Journal of Management and Commerce Innovations 

ISSN 2348-7585 (Online)

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