The present research on "The Effect of Budgetary Control on the Financial Performance of Hotels in Rwanda": Case Study of Kigali Serena hotel attempted inside a time of 2010-2015 had target of investigating the impact of budgetary control on the money related execution of lodgings in Rwanda. The review utilized both essential and auxiliary information and interred into SPSS and after that examined utilizing graphic insights for fluctuation examination. An organized poll was given to a specimen of 25 representatives drawn from an aggregate populace of 52 workers. Basing on information, the review uncovered that, there is a solid positive relationship between budgetary control system and monetary execution with connection coefficient, r=0.752 and p=0.01. Since r>0.1, consequently, monetary execution as measured by ROA is emphatically impacted by budgetary control methods. The respondents contended that the way toward planning relies on upon past execution while hierarchical execution now days relies on upon the accessibility of recourses and how clients see the client benefit set up, nature of administration, conveyance and dispersion, rivals in a similar industry lastly correspondence to the customers. Budgetary controls are viewed as imperative instrument in arranging and control of assets to upgrade execution in numerous associations.
This paper discusses competition policy, in particular anti-monopoly policy and the development of a new system of industrial concentration in Germany after World War II. When examining industrial concentration in Germany, the cooperative mechanisms for corporations are the most characteristic manifestation of corporate group systems. Large corporate group systems evolved during the dissolution and reconcentration of monopolies after the war. Antimonopoly policy influenced new developments in the system of large corporate groups. Therefore, this paper discusses anti-monopoly policy and the restructuring of a system for large corporate groups. It first examines influence of the US occupation policy on monopolies in relation to monopoly deconcentration policy and antimonopoly policy in Germany. Next it analyzes anti-monopoly policy reform. Furthermore, it considers the restructuring of corporate group systems in relation to the dissolution of monopolies under the occupation policy and their reconcentration in the latter half of the 1950s. Drawing on this discussion, how large business operations were restructured through reconcentration or concentration, and how, as a result, divisions of labor in business domains developed in response to oligopolistic competition will be clarified.
Mohamed Bouhari and Mouez Soussi
This paper investigates causality direction between education, material investment and economic growth in a panel of five MENA countries (Algeria, Egypt, Morocco, Tunisia and Turkey) during1975 to 2014. Specifics results by country will be identified about the direction of causality between the three variables. In empirical estimations we used Ganger causality tests, variance decomposition and impulse response functions to a panel data framework through the Arellano- Bond difference GMM estimator. First, we identify a causal relationship between education and economic growth as well as between education and investment. In addition, we found that the education causes economic growth after three years whereas economic growth causes the education after only one year. The results also confirm a transmission mechanism that runs from education to economic growth through material investment. This shows that increases in human capital should boost the return on physical investment. Consequently, sustaining economic growth can be performed by investment and education. Finely, according to the results we approve that emphasizing on physical investment instead of sufficient care on human capital investments is not the better way to achieve growth at medium and long run.
Amentie CK, Sogbossi BB and Amoussouga FG
Does market information processing improve product innovation success of small and medium firms? Innovation is inherently an information processing activity. An important element of information processing is the use of market information. While some researchers argue that entrepreneurs do not need formal processes to collect, disseminate and use market information, others suggest that the use of formal market information processes is positively related to product innovation success. Therefore, the main objective of this study is to assess whether market information processing improve product innovation success of small and medium enterprises. To achieve the objective, a triangulation method (qualitative, quantitative and descriptive) was employed in the investigation. Instruments used to collect data were pre-test, post-test, interviews and questionnaires. A series of hypotheses are posited to explore the relationships of the variables. A field survey administered to 425 small and medium enterprises in the manufacturing and services sector are used to gather the data. Out of the 425 surveys sent, hypotheses are empirically tested using structural equation modelling software’s (AMOS) and regression analysis on a data set of 388 firms. Based on the analysis, all hypotheses are supported. According to the findings of this study, all market information processing activities, acquisition, dissemination and utilization are positively significantly correlated. As general market information processing activities positive significant (p<.001) effect on product innovation success of SMEs. The results revealed that the higher effect of market information processing determines high level of product innovation success. Therefore, we suggest that the development of market information processing activities is an important instrument for the small and medium enterprises to achieve a high level of product innovation success.
The study on Effect of integration of computerized system and digital finance services on profitability and client’s satisfaction of Umurenge SACCO program in Rwanda was carried out within the period from 2012 to 2015. The purpose is to know whether the application of Computerized System and digital finance are related to profitability and clients’ satisfaction of KANOMBE SACCO. The sample for the study includes 75 employees of KANOMBE SACCO and its customers (149). The researcher used the universal sampling technique for data collection where primary and secondary data were considered. Various research works on computerized system and digital finance were consulted from microfinance journals, textbooks. Data collected were analyzed using descriptive statistics and regression analysis in particular using SPSS. From findings, the study revealed that KANOMBE SACCO has been approached by people from various sectors mainly by farmers, traders who in total represent 71.8% of all clients, while 10.7% are government or private employed people. We also found that there is a positive relationship (r=0.926) between profitability indicators and client’s perception determinants. The deposits are correlated to net income at 92.6%. KANOMBE SACCO is accessed by low income earners in order to upgrade their standards of living; the integration of computerized system is a necessary condition for achieving Profitability of SACCO and client’s satisfaction.
The purpose of this study is to examine the difference in financial performance before and after Initial Public Offerings (IPOs) in companies listed in Dar es Salaam Stock Exchange (DSE) in Tanzania. The company financial performance is measured by using accounting performance ratios. Quantitative hypothesis regarding the difference between pre-IPOs and post-IPOs financial performance is tested by computing a significance test on the difference between the mean score of the pre-IPOs and the mean score of the post-IPOs financial performance. The findings indicate there is significant difference between pre-IPOs and post-IPOs financial performance. Specifically, the findings indicate there is significant increase of post-IPOs financial performance. At least, the study indicates there is no significant evidence that pre-IPOs performance is higher than post-IPOs performance. However, the study indicates the results depend on the measurements of performance used in the analysis. The study is of value to various stakeholders who are interested in the financial performance of listed companies in developing countries, particularly in Sub-Sahara Africa. Specifically, these findings are useful to current and potential investors in stock exchanges in developing countries in general and DSE in particular. The findings have policy implications in terms of justifying the regulatory status, shareholder monitoring and governance of listed companies because the results indicate at least performance was listed companies do not deteriorate after IPOs. This has implication in attraction of investment from both domestic and foreign investors because it increases the confidence of investors as they become more optimistic about future performance of IPOs.
There are numerous events that will pose challenges to an organization that needs to be resolved as soon as possible which ranges from threats to the organization’s reputation through the social media, adverse media reports, labour disputes and product safety. This paper discuses lessons to managers in an increasingly competitive global business environment from Nigerian managers of using reputational repair approaches to resolve crises in order to successfully manage to minimise the damage of crisis inflicted to their organization.
Ronchi CC, Bandeira NP, de Oliveira RD and de Miranda Melo JS
This article presents a critical approach about the discursive dissimulation that the organizations use to coopt individuals to its project, emphasizing, mainly, trivialization of the violence and seduction practices in this process. In the first part of the article, it makes a brief evaluation of theoretical foundations about multifaceted discourses on an aesthetics and quantophrenic behavior, which want to transform the organization as the center of this contemporaneous society. Subsequently, it is analyzed based on selected discursive sequences: (i) analysis of organizational speech and the modeling of talent seizure by using seduction as capture strategy and manipulation; (ii) analysis of violence dissimulated in the discourses of organizations investigated; and (iii) Evaluation of speech categories and their resonances by associating them to the theoretical construct. It is possible, with the research, to reveal through the analyzed discourses that the refusal to adapt itself to ideal types will not be accepted. The discourses are structured on an imaginary project and common ideal which confer an aura of exceptional to these organizations, by transmitting the sensation that only the life between two 'walls' may be possible. It may be also noticed the evidence of capturing individuals to put the emotional life at disposal of these companies, thus, to apprehend their time and competencies. As opposed, the phenomenon is understood as imprisonment of this alienating trap, in a framework of co-optation, becoming the life of these persons into loneliness, conformism present in the dedication to the company.
One of the key values of the banking industry has been its 'Customer-Focused' mindset, but in the new era, the trend is moving to being 'Customer-Centric'. This is because advances in technology and communication, combined with an explosive growth in data and information, have given rise to an even more empowered and aware global consumer. With this change in consumer dynamics; the banking industry has an opportunity to develop an improved customer engagement strategy. More than 70% of the banking executives worldwide say customer centricity is important to them, but do they really understand what that means? Being customer centric means; providing customer satisfaction in five core areas of the Customer-Bank relationship. The banks need to analyze their service and answer the following questions: 1. Do they really 'Know' their customers? 2. Is the 'Product-Channel' fit for their customers? 3. Are they providing a 'Multi-Channel' experience? 4. Are they making a genuine effort for 'Relationship Building'? 5. Do their customers have enough 'Confidence and 'Trust' in them? 6. How can the banks get an answer to these above questions? Well the answer is through "Big Data".
The paper presented the analyses of one of the enigmas as set forth by the managerial economics. In analysing it, the paper formulated ways of resolving the enigma. The paper developed the theorem, which uncovered the essence of the two-dimensional measuring the indicators of the balanced economic growth in a developing economy. The outcomes of the analyses, carried out by the study, are expected to put a halt to the ineffective and inefficient use of natural material, capital and labour resources in any given developing economy. To that end, the results of the analyses will help open up the path leading to the effective green economy and will help maximize on the cost saving in the use of natural resources. The findings of the analyses will contribute to the development of the managerial economics and will be essential assets in measuring the balanced economic growth in developing countries. The novice of the paper is that the solution to the problem set as explained in this paper has ever been uncovered before.
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