Market Forces (Journal of Management, Business and Economics, College of Management Science, PAF-KIET)
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Employer’s Expectations Versus Performance of Fresh Graduates: Business Schools
Get PDFThe purpose of this research paper is to determine the gap between the performance of fresh graduates and employers’ expectations through KSA (knowledge, skills and abilities) approach in service industry. The banking sector was chosen for this research. The core area covered in this research were Attitudes, Knowledge and Skills, a company anticipates from freshgraduates. Questionnaire for the survey was designed to assess the gap on these three major variables. To analysis the findings, T-Test & regression were applied. The findings indicated that the gap does exist between the expectations of employer and performance of fresh graduates.The results of the findings can be significant for both the employer and fresh graduates to implement remedial measures. Universities can also work on these areas to polish up the skills of graduates. Furthermore, corporate world should also keep their expectations within the realm of reality. Secondly, they too are responsible to develop the capabilities of graduates. The conclusion lead to recommendations that business schools as well as employers need to review their teaching methodologies and development programs to enhance the skills and competencies of their employees.Keywords: Attitude, Employer Expectations, Fresh Graduates, Knowledge, Skills
Enquiring into the Sustainability of Nigerian Economy: A Time Series Analysis
Get PDFThe study obtains time-series data of three independent variables (Public Expenditure, Debt, and Reserve) and a dependent variable (Gross National Product) between 1971 and 2011 in Nigeria with the aim of verifying the sustainability of the economy. Following Keynesian Model, it formulates hypotheses, estimates parameters, and uses Augmented Dickey-Fullertest to test their significance by using E-View 7. It discovers that Nigerian economy is solvent and sustainable with positive relationship between Public Income, Expenditure and Reserve but negative relationship between the Public Income and Public Debt. It recommends increase and judicious use of external debts and appreciates internalization of public reserves by disbursement of some of the proceeds to the Traditional Financial Institution (TFI) to attain the desired economic objectives of Nigeria. Despite its  applicability, desirability and productivity; the surmountable limitations of its recommendation are fear of corruption and marginalizationamong others.Keywords: Assets, Nigeria, Solvency, Sustainability, Traditional Financial System
Liberal principles of Justice and Emerging Trend of Economic Liberalization: Lesson from Rawlsian Scheme of Distributive Justice
Get PDFWe are living in the age of so-called economic liberalization. Markets are expanding andStates are voluntarily limiting their legitimate right as the only redistributing authority of resources.The money market has globalized in such a manner that state has almost lost itscapacity to hold its redistributive function. Economic liberalization is one of the most dominatingpolicy frame work which is to be pursued and institutionally concretized in many of thepost-colonial societies as the legitimate and only viable alternative mechanism to regulatethe distribution of resources. It has been claimed that the market is relatively far more justmechanism to distribute the legitimate share of recourses under the principle of efficiency. Itis very interesting to note that the principle of efficiency has been presented in post-colonialsocieties as the only way to realize the principle of freedom. Because any attempt to counterthe so-called policy of economic liberalization is presented as anti-liberal. However in Rawlsianframe work the principle of freedom is prior to the principle of efficiency. In this article itwill be argued that in liberal conception of justice expounded by Rawls, the principle of libertyis prior to the principle of efficiency, and the distribution of resources through the myth ofefficient-market-mechanism i.e. independent of State intervention and governance as redistributiveauthority is against the principle of liberty according to Rawls. Thus the so calledeconomic liberalization and principle of liberty are mutually incompatible.Keywords: Distribution of Resources, Economic-liberalization, Liberalism, Market, Rawls, State
McDonalds Pakistan: Food and Fun Together
Get PDFMcDonalds is a leading fast food chain that revolutionized the food industry in the world. In 1980s, many companies expanded into international operations through franchise mode of business. Though these companies wanted to stick to their original knitting, they had to attune themselves to regional preferences. McDonalds’ operations in Pakistan are no different to this theory, but they negated the traditional marketing philosophy of “rule of cumulative attraction “by locating their outlets where their customer segment is in dense concentration.McDonalds defied the “rule of cumulative attraction†and “affluent segment being the trend-setters†by initially locating their outlets in Gulberg, Lahore and Nazimabad, Karachi instead of “Boating basin†where most restaurants were located. Middle class and working classes in Pakistan mostly live in Gulburge and Nazimabad. Fast-food industry thrives on footfall of customers and high volume sales at low prices instead of premium pricing trategies. The very spirit of McDonalds would have been distorted if the general perception amongst the target market had been that “McDonalds is for the richâ€. In 1998, Boating basin a seaside locality near Clifton, Karachi had turned into a food street and all eating outlets opened withinthis vicinity being more averse risk project, Pizza Hut launched its outlet in Boating basin, Karachi in 1993.Though McDonalds is popular, yet there are many challenges before them. In spite of their popularity, the different chains are not able to bring much change in their product range and service conditions. Environmental changes like healthier food preferences, depressive income levels and variety seeking cuisine requirements dictate that innovative and nutritional value added products should replace the traditional products.Keywords: McDonalds Pakistan, Lakson Group of Company, Mission, Fast food Restaurant, Franchise, Burger market
Waqf: A Proposed Model for Islamic Finance
Get PDFThis paper develops a Waqf based financing model in order to facilitate the corporate entities to finance their investments fulfilling the tenets of Halal. The basic objective of this research is to provide financing avenues to unprivileged class of the society, the majority of which cannot fulfill the collateral and other requirements of the banks. We have developed a Waqf based model which would be helpful in achieving the objective of this study. Initially the fund will finance the corporate entities then after the growth of this fund; it will start financing the unprivileged class of the society at a low cost and partnership. When the unprivileged class of the society would get financing they would start their businesses that would ultimately reduce the poverty level, create more employment, increase economic activities and would finally results in the increase in GDP and other social benefits.Keywords: Waqf, Riba, Musharakah, Mudarabah, Murahaba, Ijara
Nigeria: An Extension of Microeconomic Perspective of Demand for Money
Get PDFThe study examines the microeconomic foundation of money demand in Nigeria. It adopted weighted aggregate value of wealth to examine the problem of aggregation of monetary variables in Nigeria. Empirical analysis of the data from 1980 to 2004 using a co-integration test reveals an equilibrium behavior of money demand, wealth, composite consumer price index, and private consumption. It reinforces the fact that co-integration is purely a means to an end in analyzing the long-run relationship among variables. However, the use of simple sum aggregated variables in this study despite its being problematic yields different results. The micro attempt at aggregating these variables is therefore a probable solution to the problem at hand. The result shows that a positive impact of private consumption on money demand is negligible. On the other hand, the increase in inflation continues to pose a serious challenge to money demand,thus raising the desire to hold money. The demand for money consequently increases significantly as the wealth of few Nigerians increases.Key words: Demand for money, value of wealth, monetary variables, co-integration test., Nigeria
A Structural Equation Model: Socio Cultural Influence on Body Image of Pakistani Consumers
Get PDFThe aim of this paper is to ascertain the media and sociocultural effects on body image of Pakistani consumers. Theoretical grounding forwork of McCabe & Ricciardelli (2001) and Social Comparison Theory.This conceptual framework is inclusive of to media, parent feedback, peers feedback dissatisfaction. Valid sample size was 193. Quota sampling technique was used for allocating samples to different segments. The constructs used in this study have established reliabilities and validities. After ascertaining the normality was adopted for this study which is inclusive of Analysis (3) Validity Analyses (4) CFA for all SEM) (6) Testing the derived hypotheses based on Standardized Estimates and Critical Ratios.The proposed model was found to be relevant behavior towards body image. It was found image (body image dissatisfaction). However, a negative influence was found between peers’ feedback and body image dissatisfaction.This is one of the few studies that have successfully extended McCabe & Ricciardelli (2001), framework in Pakistan. It has also looked beyond the context of the West and tested the model in Pakistan for understanding media and socio cultural influence on body image.Keywords: Social Comparison Theory, Media Exposure, Parent Feedback, Peers Feedback and Body Image Dissatisfaction
Human Resource Management in Pakistan`s Context
Get PDFHuman Resource Management in Pakistan`s ContextAuthors: Jibran Bashir and Sara AfzalEdition: FirstPublisher: Highly Keen- The HR Institute, Lahore, Pakistan.ISBN: 978-969-9820-00-
Consumer Loan Credit Scoring Model for Pakistani Commercial Banks: An Application of Discriminant Analysis
Get PDFDuring last few years, banks in Pakistan have suffered huge losses due to high defunct ratein portfolio of consumer loans. The main reason for defaults was inadequate mechanism andprocedures for sanctioning new loans. In view of increasing infected portfolio of banks in Pakistan,have realized the importance of ascertaining creditworthiness of new consumer loans.In order to decrease the infected portfolio, a credit scoring model has been developed in thisstudy. Discriminant Statistical Technique has been used for developing this credit scoring model.Type 1 and Type 2 error have been worked out to improve the model predicting capabilities.Keywords: Consumer Loans, Credit Worthiness, Delinquency, Discriminant Statistical Technique