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Finance practices of large construction firms in Ghana: Methodological perspectives for postgraduate researchers
No full textConducting research is a process of combining a set of principles, outlooks and ideas with a collection of specific practices, techniques and strategies to produce and legitimize knowledge. In this paper, knowledge is shared with postgraduate students pursuing various studies in management and finance regarding research methodology. Integrated approach of conducting quality research in this field through personal experience and reference to scholarly works is advocated by the paper. The paper is concerned with methodological considerations adopted for emblematic doctoral research work in the area of construction finance. The discussion focuses mainly on attentive issues such as research philosophies, research approaches and research techniques. The paper concludes by recommending postgraduate researchers to situate their research within theoretical, philosophical and empirical relevance, which would require holistic adoption and adaptation of apposite research methodology.  
Professional accountant the challenges of the next decade (Agenda 2015 plus)
No full textIn the next 10 years, professional accountants will need to modify the way they perceive and carry out their mission. They will have to join the ranks of decision makers while keeping their roles of support and constructive critic to managers. They will need to extend their information management skills to the handling of non financial data to support a new definition of performance that is reflected in the Total Quality Management and value chain cultures. The mission will change because the context or management has changed, e.g., flat organizations, fuzzy organizational boundaries reflecting partnerships with customers and suppliers, globalization, and a new emphasis on service activities. The time horizons the professional accountant is used to will no longer be applicable. Such changes as target cost management, life-cycle thinking, and anticipatory crisis management are some of the reasons that will require professional accountants to become proactively involved in "managing for the future." Based on a greater attention to the understanding and analysis of the causes of resource consumption, the professional accountant will become more interventionist and will be involved in both organizational engineering and becoming a change agent in the whole product cycle, from strategic intent identification to strategic performance analysis, through change management and communication. The picture depicted of the professional accountant of the year 2015 plus is radically different from what is seen today, Training for these professionals will need to encompass this new mission in its new context. Managers also will have to embrace and value the rich potential that resides in their close cooperation with this "new" professional accountant
Business support schemes in Ghana: An assessment
No full textBusiness support schemes are necessary for the growth of private enterprises. Ghana has had a number of initiatives under various regimes from independence to date, aimed at ensuring vibrant business support schemes but the country is far from reaching the goal. This is because there is lack a of clear policy direction as well as weak collaboration among the few public and private business support organisations. This paper highlights two prominent institutions, the National Board for Small Scale Industries and Empretec Ghana Foundation and establishes that the institutions need financial support and more qualified personnel to carry out their mandate. There is also the need to consolidate the fragmented support services especially in the private sector to avoid duplication
Professioanl accountant: The challenges of the next decade (Agenda 2015 plus)
No full textIn the next 10 years, professional accountants will need to modify the way they perceive and carry out their mission. They will have to join the ranks of decision makers while keeping their roles of support and constructive critic to managers. They will need to extend their information management skills to the handling of non financial data to support a new definition of performance that is reflected in the Total Quality Monagementand value chain cultures. The mission will change because the context or management has changed, e.g., flat organizations, fuzzy organizational boundaries reflecting partnerships with customers and suppliers, globalization, and a new emphasis on service activities. The time horizons the professional accountant is used to will no longer be applicable. Such changes as target cost management, life-cycle thinking, and anticipatory crisis management ore some of the reasons that will require professional accountants to become proactively involved in "managing for the future." Based on a greater attention to the understanding and analysis of the causes of resource consumption, the professional accountant will become more interventionist and will be involved in both organizational engineering and becoming a change agent in the whole product cycle, from strategic intent identification to strategic performance analysis, through change management and communication. The picture depicted of the professional accountant of the year 2015 plus is radically different from what • PENTVARS BUSINESS JOURNAL* is seen today, Training for these professionals will need to encompass this new mission in its new context. Managers also will have to embrace and value the rich potential that resides in their close cooperation with this "new" professional accountant
Towards a growing Ghanaian church
Get PDFChurch growth is normally defined in purely numerically terms without taking into account other measurements of growth. This clearly does not present the full picture. This article therefore deals with general Church Growth Principles with a view to facilitating the total growth of the Ghanaian Church. It looks at a) The Church Growth Movement, b) The Meaning of "Growth", c) A Biblical Illustration of Growth, d) The Marks of Growth, and e) Examples of growing churches in Ghana
The organization development consultancy agenda for development programmes in Ghana
Get PDFDespite its humanistic values, organisation development consultancy practice appears to be facing implementation challenges, especially regarding development programmes in the public and private sectors. OD\u27s agenda for development programmes is to ensure its values yield benefits that could be translated into effective programmes. This is because all the development programmes involve change, which in one way or the other had not been managed effectively in the past, given the many fads of change management. The main objective of this study was to assess the benefits and challenges of OD as a consultancy practice, and create the needed awareness to enable consultants; policy makers and managers encourage its use in development programmes. This case study, through snowball sampling procedure, recorded the perceptions of 35 respondents, 16 of which are OD practitioners and 19 non OD practitioners. The findings confirmed that OD as a consultancy methodology has enormous potentials to facilitate development programmes in Ghana. However, challenges such as reliance on \u27expert\u27 consultants and opposition by policy makers need to be overcome through education and awareness creation ifOD is to survive as a consultancy practice. Far reaching implications for OD practice were provided
Introduction of common currency ‘ECO’ in West African states: Problems, challenges and impact on the national economies of member states
Get PDFThis paper seeks to identify the problems, challenges, and the implications of introducing a common currency \u27ECO\u27 in West Africa on the economies within the sub region. Specifically, the study focuses on the mandates of trade, the Customs, Immigration and Monetary and Payment Commission under the institution of the economic order of West Africa States. The augmented gravity model of Rose (1999), Alesina (2000), and Barro and Tenreyro (2002) was used to estimate the effects of monetary union on trade. The result shows that the performance so far of member countries as at the end of 2002 in meeting the convergence criteria revealed that it was inadequate to support the launching of the monetary union in 2004. The study concludes that though the introduction of a single currency will foster trade within the West-African sub-region, most countries have difficulty meeting the convergence criteria that will foster smooth take off of the project. It therefore recommends that the implementation of the single currency and common monetary policy in West Africa should be a gradual process as most countries within the sub-region are not politically mature, let alone to meet the convergence criteria
Maintaining corporate governance standards in Ghana: The role of Board Directors
Get PDFThe effects of the collapse of a company, whether private or state-owned can be very traumatic for the employees and others in the society. It can also have repercussions for the nation\u27s economy. Experiences suggest that the risk of such a collapse is heightened where poor corporate governance practices prevail. This article reviews the OECD principles on good corporate governance and the corporate governance frame work in Ghana. The writer discusses the critical role of the board of directors in ensuring the maintenance of good corporate governance. He concludes by offering some suggestions that will help boards to efficiently discharge their responsibilities
Personal leadership: A major factor in organizational longevity in Ghana
Get PDFMany Ghanaian organisations, public or private, do not last long in the system due to ineffective leadership or management. Lack of personal leadership in the lives of leaders or managers in Ghana has been identified as a major cause of the short “life span” of organisations in Ghana and Africa. Leaders and managers in Ghana lack personal leadership because of flaws in the leadership foundation in Ghana. Flaws in the leadership foundation are traced to the misunderstanding of what leadership or management position is all about. This may be a legacy Ghanaians inherited from the colonial masters, as well as their own cultural orientation. The exercise of self-discipline by current and aspiring leaders and managers is the only way to correct these flaws and get leaders to lead and managers to manage effectively for organisational survival in Ghana.