Journals of UMT (University of Management and Technology, Lahore)
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Role of Customer Participation in Technology Innovation in Higher Education Institutions (HEIs): A Qualitative Study on Value Co-Creation and Co-Destruction
Full text linkBringing innovation to organizations is not only considered to be a growth strategy but also a way to survive in the current technological era. Technological innovation involves customer participation and engagementfor value co-creation and co-destruction, which raises new challenges in theory and practice. It becomes more challenging in the service industry, specifically the education sector. Limited literature is available regardingdifferent roles played by the participating customers during technology innovation. Therefore, an empirical study was needed to explore the role(s) of customer participation in the entire process of co-creation, the drivers for customers’ positive engagement, and the reasons behind the negative engagement of customers while participating in technology innovation process. The negative engagement of the customers not only hinders the success of the co-creation process, rather it also causes co-destruction from multiple aspects. The current study followed the qualitative method to explore the phenomenon of value co-creation and co-destruction. In order to perform this task, semi-structured in-depth interviews were conducted with the representatives of Information and Communication Technologies (ICT) firms and Higher Education Institutions (HEIs) of Pakistan. The collected qualitative data was sorted in Nvivo 13 and thematic analysis wasperformed. The study concluded with the identification of multiple roles/dimensions of customer participation to foster or hinder the cocreation process. The major beneficiaries of the study include ICT firms and HEIs which need to re-assess their business processes. The study also contributes to the evolving theory of value co creation, while engaging the actors (customers)
The Lean Practices, Lean Culture, and the Industry 4.0 Implementation Process: Mediating Role of Green Practices in Pakistan’s Manufacturing Industry
No full textThis research aims to determine the effectiveness of lean practices and culture on the Industry 4.0 implementation. This aim is achieved in the context of Pakistan’s manufacturing industry keeping in view the mediating role of green practices. This is a quantitative study, positivism was used. The data was collected from 256 management-level professionals working in the manufacturing industry of Pakistan. Smart PLS was used for data analysis. Besides running structural and measurement models, some other advanced techniques namely Importance-Performance Map Analysis (IMPA) and PLS Predict were also utilized. The results revealed that lean practices and culture have a significant and positive effect on Industry 4.0 implementation in Pakistan’s manufacturing industry. Furthermore, green practices significantly moderate their effects. However, job experience has an insignificant role in this relationship. By implementing Industry 4.0 in the manufacturing sector, costs can be reduced and international competition can be met. Moreover, the current study revalidates the resource-based theory. The findings can be utilized by the manufacturing industry to implement Industry 4.0, successfully. The significance of lean practices and lean culture is well-established. This research would be helpful in strategic planning and decision-making for managers working in the manufacturing industry of Pakistan
Impact of Cashless Policy Measures on Financial Inclusion in Nigeria
Full text linkThe current study examines the impact of cashless policy measures (digital payment platforms, point-of-sale (POS) terminals, and debit and credit cards) on financial inclusion in Nigeria. For this purpose, it adopted a cross-sectional research design. The target population comprised Nigerians of various age groups, gender, income levels, and from different geographic locations in the country, who use digital banking services. Using Taro Yamane's sample size determination, a total of 400 customers (respondents) were drawn from the population comprising the customers of commercial banks in Nigeria, which stood at 122,231,000 as of 2021. The study employed simple random sampling technique. This was to ensure that the findings remained representative of the entire population. Both primary and secondary methods of data collection were used. Regression analysis was employed to assess the relationship between cashless policy and financial inclusion, while controlling for demographic variables. The study found that digital payment platforms, such as electronic funds transfer (EFT) and debit and credit cards have a significant positive influence on financial inclusion. Contrary to expectations, the study found that a point-of-sale (POS) terminal seemingly has no significant impact on financial inclusion. It is recommended that governmental entities and regulatory authorities should recognize and endorse the significance of digital payment platforms in augmenting financial inclusivity. The implementation of effective policies and regulations, the cultivation of an environment that supports innovation, and the provision of incentives to financial institutions are key strategies to facilitate the advancement of digital financial services
Factors Enabling the Measurement of Return on Investment (ROI) for Academic Staff Training in South African Public Universities
Full text linkInstitutions spend billions of rands in providing staff with training and development interventions to prepare them to meet the demands of the current dynamic environment. However, executives and other stakeholders demand value from all investments. The increasing pressure from top management to rationalise the costs and benefits of training investments led to the measurement of Return on Investment (ROI). However, measuring the economic value of human capital development is challenging as compared to measuring overall business profitability and performance. This study aims to investigate the factors that enable the measurement of ROI for academic staff training in South African public universities. The study/methodology was qualitative and the philosophical approach of interpretivism was adopted. A multi-case study design was used and 14 participants were purposively selected. The cases were comprehensive universities, traditional universities, universities of technology, and government institutions responsible for funding academic staff in South African public universities. Interviews were conducted and the data was analysed through thematic analysis. The findings revealed that the enablers for measuring ROI for academic staff training included accountability, holistic approach to Human Resource Development (HRD), institutional systems, willingness to conduct ROI, and HRD policy that is explicit on ROI.
The study was qualitative and an interpretivism philosophical approach was adopted. A multi-case study design was used and 14 participants were purposively selected. The cases were comprehensive universities, traditional universities, universities of technology and government institutions responsible for funding academic staff in the South African public universities’ context. Interviews were conducted and the data was analysed through thematic analysis. The findings revealed that the enablers for measuring ROI for academic staff training included accountability, holistic approach to human resource development (HRD), institutional systems, willingness to conduct ROI and HRD policy that is explicit on ROI. The article contributed to the body of knowledge and practice by emphasising the enablers of the measurement of ROI, and providing recommendations for future studies and practice
Examining the Impact of Corruption on Financial Sector Development in Arab League Countries
Full text linkArab League Countries have seen major regulatory and financial reforms in the last two decades and during this period these counties have been marred by corruption. In this background, this study explores the impact of corruption on financial sector development in Arab League countries from 2001 to 2020. By using the dynamic panel data estimation technique of the Generalized Method of Moments on a sample of 20 Arab League countries, the study reports its findings. The finding shows that there is a significant negative effect of corruption on financial sector development. These results favor the notion of the “sand the wheels” hypothesis. The findings of this study highlight the insensitiveness of financial development to corruption during Global Financial Crisis (2008). The results also indicate that there is an adverse effect of corruption on financial development after Arab Spring. The study acknowledges the moderation role of rule of law in the relationship between corruption and financial development. 
Conventional or Shariah Compliant Investment: Performance Evaluation of Mutual Funds in Pakistan
Full text linkThe current study was initiated to compare the performance of conventional and Shariah-compliant mutual funds in Pakistan, keeping in view the contradictory opinions found in the literature in this regard. The data utilized to conduct the analysis covered the time span 2013-2021. Assessment of risk and return tradeoff was made with three ratios, namely Jenson’s alpha, Treynor ratio, and Sharpe ratio by evaluating the monthly returns of conventional and Shariah-compliant mutual funds. The findings revealed that Shariah-compliant mutual funds outperformed conventional funds in terms of absolute risk measure, higher Sharpe ratio, and low coefficient of variation. While, in terms of funds’ exposure to systematic risk, mixed results were obtained for both types of funds. The results produced sufficient information about the risks and returns associated with the two kinds of mutual funds which would enable fund managers and investors to make informed decisions while selecting the best mutual fund, thus generating maximum returns and with minimum risks
Role of Government in Making Entrepreneurial Ecosystem Conducive in Pakistan: Case of Emerging Businesses
Full text linkEntrepreneurship is strongly linked with prosperity, economic development, and wellbeing of a country. The current study attempted to fill this gap and intended to empirically assess the phenomenon of entrepreneurship in Pakistan as well. This process was carried out by analyzing the local context of Pakistan and the role of government according to the standpoint of entrepreneurs. The current study attempted to determine the entrepreneurial situation as experienced by the entrepreneurs in order to understand as to why the culture of entrepreneurship has not been developed in Pakistan in spite of self-employment arrangements introduced by numerous government regimes. For this purpose, a qualitative research strategy was employed to explore this phenomenon. Moreover, about 65 in-depth semi-structured interviews were conducted based on the experiences of the entrepreneurs with government in their entrepreneurial journey. The majority of the entrepreneurs revealed either a total ignorance or undeniable distrust in the government schemes. The entrepreneurs complained of bureaucratic bottlenecks, delays in responses, corrupt culture, and lack of support by government. The results also showed an indication of ‘informal entrepreneurship’ in Pakistan which connotes that businesses prefer to remain unregistered and non-documented by keeping their financial transactions undeclared in order to escape labor law and tax regulations. This, according to the participants of the current study, is considered fundamental by business owners due to tough and complex regulatory procedures for their new businesses. Moreover, it is also further intensified by the unhelping behavior of the pertinent government institutes and their demand of “illegal gratifications” in lieu of offering any service
Sense-Making of Governance and Institutional Responses to Covid-19 Pandemic in the Context of Pakistan and Afghanistan
Full text linkThe Covid-19 pandemic has had a profound impact on various aspects of the global community as an atypical disaster. Pakistan and Afghanistan, members of the South Asian Association for Regional Cooperation (SAARC), also suffered significant consequences. The current study is based on the sense-making research strategy in which the early response strategies of Pakistan and Afghanistan towards Covid-19 pandemic were determined and compared. The current analysis relies on secondary data gathered from diverse sources. For instance, academic research studies, official government reports, credible statistical websites, emergency plans, and information provided by globally recognized organizations, such as World Health Organization (WHO), United Nations Development Program (UNDP), and International Monetary Fund (IMF). The data was rigorously scrutinized through a comparative analysis of institutional and governance responses of prominent actors in both countries. The two nations of Pakistan and Afghanistan share several commonalities, yet their demographic and political nuances set them apart from one another. Notwithstanding the existing political, economic, and healthcare challenges, the initial responses of the two countries to the Covid-19 pandemic were comparatively favorable, as indicated by the research findings. Despite facing several obstacles, Pakistan, as a developing and burgeoning nation, mounted a relatively effective response to the crisis as compared to Afghanistan. However, Afghanistan's fight against Covid-19 pandemic also proved to be effective owing to the support of international organizations and the community
Influence of Coopetition on Firm Financial Performance: Mediating Role of Open Innovation Performance
Full text linkIt is essential for a firm to take advantage of the rising phenomenon of coopetition across multiple firms and marketplaces in today's highly competitive climate to enhance its financial performance. Hence, this study contributes to the existing body of literature by probing the link between coopetition and the success of open innovation initiatives in Pakistani SMEs. The failure of Pakistani SMEs to establish a controlled method of coopetition has had a deleterious effect on financial performance. The current research is conducted to identify the low open innovation problem in Pakistani small and medium enterprises (SMEs), which has a negative effect on financial performance. It aims to investigate the impact of coopetition on financial performance and the mediating function of the firm’s open innovation performance in it. To achieve this objective, a survey employing a cross-sectional research design was conducted. The respondents were selected from SMEs operating in the service sector in the cities of Bahawalpur, Multan, and Lodhran in Pakistan. A total of 155 questionnaires were distributed among managerial employees of the above SMEs. The data collected from the responses to the questionnaires was analyzed through Partial Least Square-Structure Equation Modeling (PLS-SEM). It was found that coopetition has a strong role in boosting financial performance. The importance of trust and dependence in crafting an effective coopetition strategy is also emphasized in this research
Triple Bottom Line Corporate Sustainability and Organizational Performance: The Mediation of Employees Work Engagement
Full text linkManagement scholars are currently focusing on designing research that could cater the big issues of 21st century organizations including sustainability. Current research uses and extends Triple Bottom Line perspective that conceptualizes sustainability as comprising of economic, social and environmental dimensions. Though most of the previous research has focused on sustainability as a consequence of innovation and quality, present research contributes to literature by studying corporate sustainability as an antecedent of quality performance and innovation performance. Employees’ work engagement has also been incorporated in the framework as a potential mediator. To test the conceptual framework, a positivist research philosophy was utilized with cross-sectional design and quantitative approach via structured questionnaires. Data was collected from Iron and Steel Industry of Pakistan that has second highest growth rate for year 2017-18, and the responses aggregated to 216 in number. Structural equation modeling was used to validate the constructs through measurement model, and to test the hypotheses through structural model. The results revealed that corporate sustainability (economic, social and environmental) positively influences organizational performance (quality and innovation performance), and employees’ work engagement partially mediates this relationship. In Pakistan, the GDP and the cost of environmental degradation are increasing simultaneously. Current research offers a solution to this problem through suggesting that adopting sustainable practices can help resolve country’s environmental issues without taking a toll on organizational performance. It also explains that corporate sustainability leads to organizational performance through employees’ work engagement, thus providing an effective way to enhance employees’ work engagement as well