Vol 3 Issue 2 October 2015-March 2016

Abstract: Finance is like blood for any organization. If finance is taken out of an organization, whole system will collapse. Stock markets are important in order to increase the investment in any company. The importance of stock market cannot be neglected in the economy of a country. This paper will explain various types of stock markets, how do they operate, and how they impact the economy of a country. There are two types of stock markets in any country, primary markets and secondary markets. The company that is attracting the investors with the first time share issue receives money through Initial Public Offering (IPO). Dealers and brokers are found in a stock market who are important part of stock market operations. Stock market impacts the economy of a country in many ways. The strength of stock market shows the strength of the country’s economy. Stock market makes the cash and investments available for the companies. With the availability of investment, corporations perform better and add to the economy of the country. There are certain economic factors that impact the stock market as well. These factors include inflation and interest rates. As a conclusion it can be said that the role of stock market for the betterment of a country’s economy can never be ignored.

Keywords: Stock market impacts, investment, Corporations perform, Initial Public Offering (IPO).

Title: Role of Stock Market in the Economy of a Country

Author: Hassan Almomen

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Indian foreign trade has come a long way in value terms from the time of gaining independence in 1947. The total value of India’s merchandise export increased from 1950-1951 to in 2014-2015 .After Liberalization of 1991, India trade growth has picked up place. In the last decade and at present, the composition of trade is dominated by manufactured goods and services. The share of exports of Indian service sector in global exports is more than double of that of Indian exports. Under the central governments’ campaign “MAKE IN INDIA “new projects will be coming upon the future in our economy. The present paper focuses on the foreign trade of India since 1947 to 2015.

Keywords: Economic Growth and Growth Rate, Exports, Imports, Trade Balance, Total Trade, Liberalization, Privatization.

Title: INDIA’S FOREIGN TRADE SINCE 1947-2015 IMPACT ON INDIAN ECONOMY GROWTH

Author: Obaid-Ur-Rehman

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Lean manufacturing is one of the appropriate production strategies, which companies adopt in different industries. Lean manufacturing is an integrated process that simultaneously deals with and addresses quality issues, vendor management and monitoring, and other management tools such as ‘just in time’(JIT) stock and supplies, and reducing or eliminating waste. Like any other production process, lean strategies are tough to implement and pose many problems. Lean strategies are totally consumer-centric and focus on what is beneficial to the consumer

Based on survey data gathered and analyzed from an international oil company in Nigeria, Existing literature on lean and Just in time operations strategy was reviewed. Issues and challenges with materials and spares availability were discussed. Furthermore, implementation of lean and JIT within the oil and gas producing company in Nigeria were discussed

The data for the study was collected through questionnaire, and prepared with the view of employees and the research objectives. Both staff and managers were part of the chosen sample population. A total of 150 respondents participated in the study

The study had some limitations like financial constraints, which restricted operations of the study. Timing in the sense that a lot of activities were supposed to be done but time could not allow them to be done extensively. Also, The research was limited to particular employees from a specific location, which is  Mobil Producing Nigeria Unlimited in particular and this makes geographical location a limiting factor..

Analysis of different hypotheses of the study indicated that there is significant association between different attributes that were analyzed, implying that the attributes depend on one another. Among others is that the study found out that there is significant association between Age and ‘Usage of Value stream mapping tools and technique’; Gender and ‘Usage of Muda (waste) elimination tools and technique’; Gender and ‘Usage of Value stream mapping tools and technique’; Gender and ‘Implementing JIT programmes to reduce set-up times. In addition, it was ascertained that there is significant association between ‘reason for not implanting JIT is that JIT does not fit well with company’ and ‘Implemented Total Quality Management Programmes’; ‘Management commitment ensures that there are necessary resources available to implement JIT’ among others.

Keywords: Just In Time (JIT), Implemented Total Quality Management Programmes.

Title: Implementing Lean & Just In Time (JIT) -Issues and Challenges for Oil and Gas Producing Companies in Nigeria

Author: Elijah.O Olose

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: This article focuses on examining depth understanding of employee engagement in relation to organization context in a public sector. There is growing recognition about the need to evolve an engagement strategy to keep employees engaged and aligned with an organisation’s mission. An employee’s engagement survey was designed to identify how well employees are committed to their jobs and feel a part of the organization and to identify areas in which the organization can improve in fostering employee engagement. Employee engagement results in part from understanding the company’s direction and the significance of an employee’s role in helping the company reach its goals. The research will give a clear view of various factors affecting employee’s engagement. It is important for an organisation to know what drives its employees as they are the ones that own the company’s success. While a company may invest all its energy and resources in making it the best place to work, employee values and passion must be connected and aligned towards company goals to achieve organisational success. The key to achieving excellence lies in ensuring that every employee has a passion to excel. This article tries to examine relationship between levels of employee engagement and organistion success by conducting a engagement survey where some business success factors will be taken as independent variable and employee engagement will be a dependent variable. The research findings will be to profound to what extent engagement leads to business success and identify areas which needs improvement  as well as to develop  some strategies which  organisation can implement to increase the level of employee engagement.

Keywords: Employees Satisfaction, Organization Effectiveness, Workforce Performance, Interpersonal relation, Growth and Prosperity.

Title: An Exploratory Study on Employee Engagement in A PSU

Author: Mrs. Parimi Sai Vashanti

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: This study was aimed at analyzing the relationship between managers’ leadership styles organizational support towards progressiveness although many people use the terms interchangeably, management and leaderships are not the same thing – and the nation’s employers know the difference. This is why a majority of hiring managers seek applicants with a demonstrable ability to shift fluidly from one role to the other as the work environment may necessitate.

Employers in the hospitality industry, in particular, are hiring candidates with the training, experience and education necessary to master leadership challenges specific to the dynamic industry, which is undergoing somewhat of a renaissance as the economy stabilizes and the U.S. population rediscovers its appetite for fine foods, beverages, lodging and gaming.

Coimbatore was ranked the best emerging city in India by india Today in the 2014 annual Indian city survey. The city has been ranked 4th among Indian cities in investment climate by and ranked 17th among the top global outsourcing cities by Tholons.

Seasoned hospitality leaders know better, though, than to rely on upward economic trends to bring in business. The recent economic challenges the country has faced have instilled high expectations in the spending population, as middle- and working-class Americans appreciate the value of their hard-earned wages more than ever. Hospitality managers must be fully prepared to apply strong leadership skills to the various challenges of their industry in order to help keep their associates and their guests happy.

Keywords: leadership, organization, beverages.

Title: A Study on the Impact of Managers Style of Leaderships and Organizational Support towards Progressiveness-With Reference to Group of Hotels, Coimbatore

Author: Dr. M.M.Kannan, M.A.Ravichandran

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: This area of study examines human behavior in a work environment and determines its impact on job structure, performance, communication, motivation, leadership, etc. In this paper we will also discuss different theories of how organizational behavior can be viewed by companies. This paper will highlight all the terms related to the study of individual and group dynamics in an organizational setting, as well as the nature of the organizations themselves. Whenever people interact in organizations, many factors come into play. The subject of organizational studies attempts to understand and model these factors. This subject is becoming more important as people with diverse backgrounds and cultural values have to work together effectively and efficiently. In this paper we also seek to emphasize the understanding of behavior in organizations so as to develop competencies in foreseeing how people are likely to behave.

Keywords: Organization, Behaviour, Leadership, Communication, Organizational effectiveness, Psychology, Sociology.

Title: Organizational Behavior-An Attempt to Create More Efficient Business Organizations

Author: Ms Almas Sabir

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Today there is demand for a business which is flexible enough to respond to any fluctuations in the running of the business .What differentiates an on demand business from its competition is the fact that it is responsive in real time as the event occur. This is possible only because all its business processes are thoroughly integrated and the information technology infrastructure exists in an on demand operating environment.

This research paper deals with the effectiveness of e-commerce in Indian economy. The main objective of this research paper is to throw some light on the impact of e- commerce in Indian economy and the challenges faced by the e- trading in the Indian society. The main objectives of this research paper are:

1.  To study the challenges faced by e- commerce in India.

2.  To study the various impacts of e- commerce in different levels.

Keywords: E-commerce, Indian economy.

Title: E-Commerce and Its Impact on Indian Society

Author: Pallavi Saxena

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Packaging is any container or wrapping in which a product is offered for sale and can consist of a variety of materials such as glass, paper, metal or plastic depending on what is to be contained. The study investigates the relationship between product package and consumer purchase behaviour in the Food and Beverages markets of Lagos State, Nigeria. The descriptive survey design was adopted to examine 17,552,940   consumers of packaged food products in Lagos State (Lagos State Bureau of Statistics, 2005). The proportionate sampling technique (a variant of stratified sampling method) was used to draw a sample of 2,500 consumers across the 20 local government areas of Lagos State.  Questionnaire was the main instrument for data collection rated on a 6 – point Likert scale. 2374 copies of questionnaire were successfully returned representing a response rate of 94.96%. Data were analysed using the descriptive statistical techniques of Pearson Product moment correlation (r) and Simple Regression Analysis. The results of the study reveals that product package significantly affect consumer purchase behaviour of a brand (R=0.535; R2 = 0.286; p<0.05) which can be achieved through effective choice of label information, logo, brand size and shape which are all ingredients and attributes of good package design for a brand. The study recommends that aesthetic components of the product package should be soothing for the eyes of the consumers to enhance good point – of – purchase appearance.

Keywords: Packaging, Branding, Product package, Purchase behaviour.

Title: Product Brand Package and Consumer Purchase Behaviour in Food and Beverages Industry of Lagos State Nigeria

Author: KESINRO Olalekan Rasheed, OYENDE Adeleke Adedapo

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Marketing strategies of life insurance plays an important role in the penetration of respective market. Insurance companies are in a unique position when it comes to marketing. They have no tangible products to sell, but instead rely on strong relationships with loyal customers and word of mouth to help them compete. Still, despite the challenges, the marketing strategies for insurance companies are really no different than for any other company, and require a strong focus on the basics of effective marketing. The marketing strategies keeps on changing with the passage of time and it needs to be changed accordingly to be able survive and compete in the highly competitive market. Better marketing strategies like new products, innovative distribution, and better use of technology are helping the new breed of private life insurers to take market share away from the monopolist of earlier days. This paper is mainly focused on the marketing strategies adopted by LIC and an attempt is made to find the new marketing strategies which would be more customer oriented and market capturing in nature.

Keywords: Marketing strategies, Private life insurer, LIC, Customer.

Title: Marketing Strategies of LIC in Life Insurance Industry

Author: Mushtaq Ahmad, Obaid-Ur-Rehman

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: The topic of the research talks about importance of cost of quality. Today most organizations are working in a competitive environment: they need to tackle and see off their opponents proactively. Every organization must choose for itself how best to attempt and compete in the market. A customer always likes a high-quality product that meets the expectations. In this manner, high quality just verifies that a product does what a client anticipates that it will do.

Keywords: Importance of cost of quality, high-quality product.

Title: Cost of Quality

Author: Murtadhi Hussain Alfayez

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Globally, there is growing concern about the impact of business on environment and society. It is not enough for businesses to get financial returns only; they need to get social returns also. Financial performance alone is not the indicator of success for a business today. Important indicator of sustainable development of economy is measuring the performance of businesses in terms of what impact their operations have had on environment, society and government. Corporate social responsibility or CSR is a process to ensure businesses are conducting sustainable business activities in a manner that has a positive impact on consumers, employees, communities, general public and the environment. An increasing number of companies have started promoting their businesses by applying CSR strategies because the customers, the public and the investors expect the business people to do business in a sustainable and responsible manner.  Also the governments of various countries want the business units to include CSR in their vision, mission and in their strategic plans. They want corporations to implement CSR initiatives which would bring about overall development of society and their businesses. Through these CSR initiatives, government wants to bring about rural development too. So, Corporate Social responsibility (CSR) is basically a concept which corporates voluntarily adopt in order to achieve a better society and cleaner environment. This article deals with what is CSR, its evolution in India, the benefits of CSR, the current CSR practices of eminent Indian companies and the deceptive claims companies make of being good corporate citizens.

Keywords: Corporate social responsibility, Sustainable development, CSR practices, social returns.

Title: CSR IN THE INDIAN SCENARIO

Author: Ms. TANUJA NAIR

International Journal of Management and Commerce Innovations

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Abstract: This describes the development and evaluation of an Internal Management Control System for a not-for-profit organization administered by blind persons, particularly, computer schools of visually impaired persons. The study proposes a Manual for the Operational and Fund Activities, applies it to ATRIEV, an organization administered by the blind for training the blind in basic computer education. This study then tested the completeness of the purposed internal management control system and recommend further developments.

Keywords: Internal Management Control, Not-for-Profit Organization. Visually Impaired Person, ATRIEV.

Title: Development and Evaluation of a Proposed Financial and Accounting Control System for a Not-For-Profit Accountable Entity Administered By Blind Individuals

Author: Antonio S. Abel

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Micro, small and medium enterprises play a crucial role in the economic development of any country and Malawi is not an exception. However, one of the major problems bedeviling the growth and survival of MSMEs is limited access to finance. The extent of the problem is of so much concern in Malawi where market interest rates are always exorbitantly high. As one of the ways of mitigating the problem, this paper analyses some of the financing mechanisms Malawi can adopt and institutionalize in order to boost the SME sub-sector. These mechanisms include credit guarantee schemes, equity guarantee schemes, and import and export credit facilities. However, the paper recommends that these facilities suit the medium category of the MSMEs as the micro and small categories will still find it hard to access. This recommendation is informed by practices and experiences from jurisdictions that have advocated for and adopted such mechanisms.

Keywords: access to finance, credit guarantee schemes, desk study, equity investment, export financing, Malawi.

Title: Exploring Alternative Sources of Financing Small and Medium Enterprises (SMEs) In Malawi: Lessons from Elsewhere

Author: Richard Zidana

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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Abstract: Objectives of this study are to examine the relationship between Interest Rate and the Stock Prices of Banks Finance and Insurance Sector Companies and to find the effect of changes in Interest Rate on Stock Returns of Banks Finance and Insurance Sector Companies. Capital markets are sensitive to number of macroeconomic factors, out of which Interest Rate is identified as a major factor by many researchers (Alam & Uddin , 2009). Colombo Stock Exchange provides secondary evidence of Banks Finance and Insurance Sector Index, which represents the dependent variable and Central Bank of Sri Lanka provides evidence of Interest Rate, which constitutes the independent variable. Researcher collected monthly data for 12 years from 2002 to 2014 for the study. Data set is proven to be normally distributed. Correlation and Linear Regression Model was used to examine relationships. Results of the study disclose a negative Correlation between Interest Rate and Banks Finance and Insurance Company Stock Prices. Further, based on coefficient of determination, 8.8% of the Banks Finance and Insurance Company Stock Returns are determined by Interest Rate. In par with original relationship between Interest Rate and Banks Finance and Insurance Index, change in Interest Rate is negatively correlated to Banks Finance and Insurance Company Stock Returns. This study would extend the literature on capital markets and provides valuable information to investors who are interested in Banks Finance and Insurance Sector.

Keywords: Interest Rate, Banks Finance and Insurance Sector Index, Colombo Stock Exchange, Stock Returns.

Title: The Importance of Interest Rate in Determining Stock Returns of Banks Finance and Insurance Companies in Sri Lanka

Author: P.R.M.R. Perera

International Journal of Management and Commerce Innovations

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Abstract: This study discusses the role of non-mediated power sources in managing target channel member performance in a collectivist context by examining tea producers marketing channels in Sri Lanka. In here the channel relationship between tea brokering firms (channel principal) and bulk tea manufacturing firms (channel dependent) were measured from the perspective of the target channel members. Data were collected from 114 respondents who represent the key decision makers of the tea manufacturing firms as power targets. In contrary to the power research in western literature, this study uses an additional power variable called prestige power as a preferred source of power in a high power distance culture along with the traditional non-mediated power sources identified in French and Raven power typology. The findings of the study revealed a positive correlation between all non-mediated power sources and target member performance but only expert and prestige power sources have statistically significant relationships with the target member performance. When concerning the strength of these correlations researcher suggested that prestige and expert power would be more effective in controlling the performance of target channel members in tea producers marketing channels to achieve the channel objectives in desired way.

Keywords: Non mediated power sources, Prestige power, Target member performance, and Tea producers marketing channel.

Title: Non-Mediated Power Sources In a Collectivist Context: Role of Non-Mediated Power Sources in Managing the Performance of Tea Producers Marketing Channels

Author: T. Vidanapathirana

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online)

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