Management Journal for Advanced Research
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Large Language Models (LLMs) in Business Strategies and Accounting: Opportunities and Challenges
Get PDFThe rapid advancements in artificial intelligence (AI), particularly with large language models (LLMs), have sparked significant interest across various industries. In business strategy and accounting, LLMs are demonstrating potential to automate tasks, analyze financial data, and support strategic decision-making. This paper reviews the applications of LLMs in business strategies and accounting functions, exploring their strengths, limitations, and implications. Through a qualitative analysis, we provide insights into how organizations can integrate LLMs into their strategic frameworks to gain competitive advantages while maintaining ethical and practical considerations
Investigating the Financial Practices of School Teachers in Kolkata (2023): Income, Savings, and Investment Patterns
Get PDFMost individuals are adept at earning money and understand the importance of saving. However, only a small proportion possesses the knowledge to effectively invest their savings in suitable investment avenues. Teachers are educated members of our society, so this research study was conducted to understand the saving and investment behaviour of school teachers in Kolkata city. To extract information, a well-structured schedule and questionnaire were prepared, distributed, and administered among the selected sample respondents. It was found that there is a relationship between income, age, savings, and the expected rate of return of the respondents. This research infers that teachers exhibit a preference for traditional investment avenues, while modern investment options remain largely unutilized. It is inferred from this research that teachers prefer traditional investment avenues and the modern investment avenues are almost untouched. They normally prefer deposits, PPF, and insurance, with their main investment objectives being emergency needs, a secured future, and child education. It is suggested that various awareness programs should be conducted to educate them about different investment avenues
Evaluating Women Participation in Information and Communication Technology (ICT) among MSME’s in Zambia; A Case Study of CBD, Lusaka
Get PDFThe purpose of this study was to evaluate women participation in Information and Communication Technology (ICT) among Micro, Small and Medium Enterprises (MSMEs) in Zambia; a case study of the Central Business District (CBD) of Lusaka. Employing a mixed-methods research approach, the study carried out comprehensive analysis of the data sourced from questionnaires and interviews in which the respondents were females running a business in Lusaka. The findings illustrate the prevalence of women’s participation in ICT, identifies the factors influencing women involvement in ICT and the strategies that can be used to promote participation among women MSMEs in ICT. The study used the Technological-Organization-Environment (TOE) framework as the conceptual framework. Using this theory, the author formulated variables under the categories; economic factors, socio-cultural factors, educational factors and the policy interventions from the government. The analysis was done using the Statistical Package for Social Sciences (SPSS) version 27. The results of the study revealed that there are few women participating in ICT domain among MSME’s in Lusaka. The study further showed that 24.7% of the females operated micro enterprises while 75.3% are operating as small enterprises and none are operating as medium enterprises as per definition provided in the MSME’s development policy of 2008. Some of the factors that were identified as affecting the participation of women in ICT among MSMEs according to the study include limited access to necessary equipment, lack of empowerment, and lack of public understanding of the industry by the public. The study recommended promoting STEM education among women, promoting mentorship programs and for the government to increase funding towards empowering women that want to establish businesses in the ICT sector.
Exploring Ethical Dilemmas and their Impact on Decision-Making in Managerial Accounting
Get PDFThis research discusses the ethical issues that the managerial accountants face and how such issues influence the organizational decision-making process. With the aim of identifying the common ethical dilemmas, understanding their causes, and offering recommendations, the scope of the research is to enhance the integrity of financial reporting and management decisions. Case studies and close examination of the literature are included in the research methodology. The case studies are centered on actual-life situations where there is a violation of ethics. This includes cost manipulation, performance reviews biased towards individual expectations, and expense misreporting. Literature review The paper views prior research on ethics in accounting. The study relies majorly on secondary data for its information. Information was gathered from industry publications and scholarly papers. The results show that conflict of interest, pressure to meet financial targets, and lack of well-outlined ethical standards are the frequent ethical problems are attributed to few common causes. Such moral slippery slopes often in turn have been proven in research to result in business malpractices, monetary loss and reputation loss. To reduce unethical behavior, the paper also endows with the essence of ethics education and implementation of internal controls and procedures. The findings of the study point out the requirement for a coroner in hopes that companies will pay attention to ethical managerial accounting practice. Some of the proposals include the running of high numbers of transparent measures, professionalism and integrity education and stricter corporate governance measures
Stress and its Effect on Work-Family Conflict: A Study in XYZ Clothing (Pvt) Limited, Sri Lanka
Get PDFStress and work-family conflict are becoming prevalent issues for most employees nowadays. Stress is a pervasive aspect of modern life, often arising from the demands of both work and family domains. These days, work-family conflict has increased among employees, especially married staff as a consequence of stress. This study investigates the relationship between stress and work-family conflict. The purpose of the study is to examine the effect of stress on work-family conflict among married workers in XYZ Clothing (Pvt) Ltd company in Sri Lanka. Primary data were collected from 173 married workers using a proportionate stratified random sampling technique. Based on the analysis, the study’s findings indicate that the primary causes of stress among married workers are work pressure, the leave system, role ambiguity, poor pay and benefits, financial difficulties, and work-life balance challenges. The results prove that job, organizational, and personal stressors positively influence work-family conflict. Additionally, out of those stressors, job stressor has the highest impact on work-family conflict by 66%. This study contributes to a better understanding of the causes of stress and its influence on work-family conflict. It is essential to comprehend the interplay between work-family conflict and stress to create strategies to reduce stress and work-family conflict in an organization
An Overview of Financial Education Initiatives in India – A Descriptive Study
Get PDFThe genesis and significance of financial literacy have come into the limelight since the worldwide economic collapse. Financial literacy is expected controlling device for the unrestricted poverty and economic disparity in India. The Government and financial sector regulators have envisaged “National Strategy for Financial Education” (2020-25) through a very new “5-C” approach “Content”, “Capacity”, “Community”,” Communication” and “Collaboration” to uplift the existing reduced financial literacy rate. This paper elucidates on different initiatives grabbed by the supervisory agencies of India to excel the “financial literacy” among the individuals in the country and alongside compares financial literacy rates state wise in India and with fastest growing countries in Asia. This paper is purely based on various documents published by the regulatory bodies and reviews of research articles. The significance of this paper is advocated as policy makers and research scholars may see it as a value addition to the present literature of financial literacy
An Investigation into the Effectiveness of Customs Strategies in Mitigating Smuggling of Goods in Zambia
Get PDFThis dissertation assesses customs strategies\u27 effectiveness in curbing goods smuggling in Zambia. Despite efforts by the Zambia Revenue Authority (ZRA), which is a statutory body mandated to among other functions, collect revenue on behalf of the Zambian Government and tackle smuggling, the problem of smuggling remains pervasive, necessitating a comprehensive strategy review. Using a Mixed Method approach, the study combined qualitative and quantitative methods. Primary data was collected via semi-structured questionnaires, supplemented by desk research for secondary data. The study targeted individuals from the Zambia Revenue Authority (ZRA). The study aimed to conjure 100+ responses and key personnel interviews, using purposive sampling. Analysis employed a descriptive and interpretive design to identify themes, patterns, and relationships. Objectives included investigating the effectiveness of the existing customs strategies in mitigating smuggling of goods in Zambia, evaluating taxes\u27 influence on smuggling, establishing the correlation between willingness to pay taxes and smuggling, and the effectiveness of policy, legal, and institutional frameworks against smuggling. Findings show that the existing customs strategies, while generally effective, needs enhancement. Furthermore, findings revealed a significant positive relationship between taxes and smuggling prevalence. However, the willingness to pay taxes and smuggling relationship is complex, suggesting other influencing factors. Evaluation of policy, legal, and institutional frameworks reveals challenges like corruption, resource inadequacy, and inter-agency coordination limitations, hindering effectiveness. Regarding law effectiveness in combating smuggling, perspectives vary. While some viewed the law as effective, others cited corruption, inadequate penalties, and resource constraints affecting implementation. The study recommended Continuous Monitoring and Adaptation. Given the dynamic nature of smuggling and its relationship with taxation, policymakers should continuously monitor and adapt strategies. Regular assessments of the effectiveness of customs strategies, tax policies, and awareness campaigns to encourage compliance in term of paying taxes are crucial to ensuring that interventions remain relevant and impactful in the evolving landscape of Smuggling activities. Furthermore, the study recommended implementing legal reforms that effectively target existing gaps, establish sanctions commensurate with the gravity of offences, and account for the evolving methods employed in smuggling activities
The Impact of Sustainability Accounting and Reporting on Firm Value-A Case of Listed Companies on Lusaka Stock Exchange
Get PDFThere is a growing interest among stakeholders on the subject of Sustainability Accounting and Reporting (SAR). Literature based on SAR has reviewed that there exists a relationship between SAR practices and firm value. However, this has not been confirmed on the listed companies at Lusaka Stock Exchange (LuSE). The aim of this research was to investigate the impact of SAR on firm value, focusing on companies listed on the LuSE. The Overall objective of this research was to drive positive change, improve company performance, and ensure that companies operate in a socially, environmentally and economically responsible manner. This objective was achieved by three specific objectives firstly by examining the SAR practices among LuSE listed companies in Zambia, secondly by analyzing the relationship between SAR and firm value and lastly by identification of the key drivers to implementing SAR practices among LuSE listed companies. In doing so, the study adopted a quantitative approach to collect and analyze data. The results revealed that the level of sustainability practices has been increasing over time. However there has been gaps with regards to smaller firms which are still struggling with financial stamina. It was also found that SAR has impacted firm value and overall firm performance. A weak correlation was observed which was also significantly tested at 5% confidence level. The findings indicate that a weak association between the dependent variable Return on Assets (ROA) and the independent variables that is environmental and social sustainability indicators with overall mean of 0.164 and SD= 0.169. Based on the model, it was revealed that environmental and social sustainability indicators played a pivotal role in firm value. These results show that corporate sustainability reporting index has positive and significant impact on firm performance for the listed companies on LuSE. The main drivers of SAR practices were firm size, media visibility and ownership structure and these have been important with regards to disclosure of sustainability reports, while corporate governance only seems to have an influence on the existence of audit or sustainability committees. Therefore, it was recommended that there is need to educate and improve SAR awareness among LUSE listed companies and beyond in order to achieve sustainable development for all stakeholders
The Effect of Covid-19 on the Performance of the Hospitality in Zambia: A Comprehensive Analysis (2015-2022)
Get PDFThis study examined the effects of the COVID-19 pandemic on the performance of Zambia\u27s hospitality industry, focusing on the years 2015 to 2022. Initially, the research aimed to understand the industry’s trajectory through its pre-pandemic growth and diversification, followed by its response to the pandemic’s challenges. Utilizing a mixed-method approach, the investigation combined quantitative data from Zambia’s Tourism Statistical Digests with qualitative insights from interviews conducted with officials in the Ministry of Tourism. The findings revealed that the period from 2015 to 2019 was marked by significant growth in the industry. For instance, international tourist arrivals rose from 931,782 in 2015 to 1,009,173 in 2017, accompanied by an increase in tourism revenue. However, the emergence of COVID-19 in 2020 led to a dramatic downturn, highlighted by a 56.2% decline in international tourist arrivals compared to the previous year. In response to the pandemic, the Zambian government issued several Statutory Instruments, such as the Tourism and Hospitality (Licensing) (Amendment) Regulations, 2020 and the Tourism and Hospitality (Registration of Hotel Managers) (Temporary Disapplication of Registration Fee) Regulations, 2020. These were aimed at providing financial relief and maintaining regulatory compliance within the industry. By 2022, the industry began showing recovery signs, including a 10.5% increase in tourist arrivals from 2020 to 2021. The resilience of Zambia\u27s hospitality industry in the face of the pandemic was evident. The study concludes with strategic recommendations for future growth, highlighting the importance of Public-Private Partnership models to enhance infrastructure, the need for Niche Tourism Development to broaden the industry\u27s appeal and resilience
Human Rights: Universal Entitlements and Their Role in Modern Society
Get PDFHuman rights are universal entitlements that every individual holds by virtue of their humanity, regardless of race, gender, nationality, ethnicity or religion. The paper underscores the role of human rights as protective mechanisms, guiding principles and judicial recourse while suggesting reforms to improve their application in global governance and legal systems. The paper adopts a historical analysis to examine the historical development of human rights, identify contemporary challenges, and propose possible solutions.. We used secondary source of data which includes international documents like the Universal Declaration of Human Rights (UDHR), and critiques from postcolonial and cultural relativist perspectives are analyzed. It categorizes human rights into civil, political, economic, social, and cultural rights, assessing their relevance and limitations in the modern era. Solutions such as strengthening judicial mechanisms, fostering global cooperation, and addressing cultural variances are offered to enhance the enforcement of human rights in the face of modern challenges