Acta Universitatis Danubius. Œconomica

Workforce Development and Job Gratification of Support Workers in Selected Institutions in Lagos, State Nigeria

Samuel Ayodele Majekodunmi — 2024-03-05

Enquiries on workforce development and job gratification remain limited in Nigeria. More so, in connection with the plight of support workers in selected higher institutions of learning in Lagos State, Nigeria. The scenario has lingered for too long; consequently, there is scarcity of reports on ways to address obsolete skill, which has created consistent nervousness among support workers in tertiary institutions in Lagos State, Nigeria. The need to discontinue the trend and close the gap has motivated this enquiry. The study embraced survey research design, 4800 support workers constituted the study population. Using Krecjie and Morgan’s (1970) Table, the study obtained a sample of three hundred and fifty-seven (357), same figure corresponds to number of participants, who responded to copies of questionnaire administered. Using SPSS Version 26, the study achieved data analysis. Findings derived from analysis indicated that workforce development has an insignificant effect on job gratification of support workers in selected institutions in Lagos State, Nigeria. The conclusion is that workforce development generates job gratification among support staff in selected institutions in Lagos State, Nigeria. The study recommends that management of the universities need to rejig their extant policy to nip in bud, all competency-related anxieties.

Entrepreneurial Orientation and Small and Medium Enterprises Competitive Advantange in Lagos State

WAIDI ADENIYI AKINGBADE — 2024-03-05

There have been inconsistencies in the findings of academic researchers on entrepreneurial orientation and SMEs competitive advantage, which has demanded a further study. The issue of inadequate access to finance, poor infrastructure, inconsistency with government policy, poor support (business development work), inadequate sales, too many taxes and obsolete technologies leading to massive failures of SMEs and its effect on the epileptic growth of SMEs in Lagos state, but also due to the problem from entrepreneurial orientation. The survey research design was employed in this study and the study relied on primary data. The targeted population of this study is 1,511 SMEs (wholesalers and retailers only), which were drawn from Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Lagos state. A snowballing sampling technique was used to choose 316 participant SMEs to which the questionnaires were administered, of which 243 questionnaires were returned. The hypotheses of the study were analyzed using multiple regression analysis. The results showed that pro-activeness, innovativeness, and risk-taking significantly improve the performance of SMEs in Lagos state. The study came to the conclusion that innovative, entrepreneurial-oriented businesses are more likely to lead their industry in innovations and carry out tasks in a way that better serves clients and increases the firm's power. In order to improve the performance of their companies, the study recommended that SMEs' owners and managers to be dedicated to process and radical innovation in their interactions.

Empirical Study on the Conceptual Approach of Worldwide Economic Resilience

Lilia Sargu — 2024-04-08

The appearance of new notions in economic theories is due to the dynamic and applied
nature of the economy regarding the involvement of studies and researches in the solution of
pressing problems. The notion of economic resilience appears as a new concept provided by the
community of scientists from various continents, a fact that confirms the synergy and rationale of
economic thinking on the phenomena that are increasingly being approached at the global level.
The author's interest in this phenomenon comes in the context of the joint study initiated by a team
of researchers from the National Institute of Economic Research in the Republic of Moldova
concerned with the issues of adapting the national economy to current challenges. In this context,
we would like to present this study as an analysis of the concepts of the world's scientists, who had
in their study objectives the element of economic resilience and on which they expressed their own
opinion. This study is of particular importance for the researches initiated by clarifying the diversity
and size of the concept and the conclusions of all those cited in this paper as reference points to
some formulations and the process of developing the subject in the context of the Republic of
Moldova.

Negotiation Strategies in Marketing Activity to Improve Company Performance

Maria Hămuraru — 2024-04-08

This article examines the significance of negotiation techniques in the marketing endeavors of firms, emphasizing how inventive and cohesive negotiating methods may enhance organizational success. The purpose of the article is to analyses and find efficient negotiating techniques in marketing, in order to ascertain their potential for enhancing corporate success. Methodology: The study employed quantitative methods, primarily utilizing a questionnaire to collect data. The questionnaire was distributed to a representative sample of marketing professionals and managers to gather information on trends, preferences, and perceptions related to various negotiation tactics. Additionally, qualitative methods such as comparative analysis, synthesis, deduction, and observation were employed. Conclusions: offers valuable analysis of the most efficient negotiating tactics employed in marketing, emphasizing the connection between distributive and integrative methods of negotiation and the financial prosperity of companies. Originality: enhance the development of conceptual approaches to negotiations by using marketing tactics, providing organizations functioning in a highly competitive business climate with a contemporary and contextualized viewpoint.

Navigating the Future: Unlocking the Potential of Blockchain Technology in the Maritime Sector

Alisa-Mihaela Ambrozie — 2024-04-11

Starting from the paradigm that 80% of global cargo transport occurs through the shipping sector, this article explores not only the transformative potential of blockchain technology in this industry, but also the challenges that may arise from it.In this light, this study aims to explore the critical success factors of blockchain implementation by analyzing the theoretical context and practical applications of the maritime sector, developing a specific blockchain implementation framework for maritime logistics and operations. Through detailed analysis and examples, including initiatives like TradeLens and CargoX, this article demonstrates blockchain’s ability to streamline processes, reduce bureaucracy, and improve integrity across the supply chain. Furthermore, the proposed conceptual methodology promises a more interconnected and reliable supply network by increasing transparency, simplifying documentation and improving security is a valuable contribution to the future decision-making literature, which currently has few structured methodologies. In conclusion, the implication analysis of blockchain adoption indicates that for industry organisations, a good understanding of blockchain and their own specific problems and requirements is key before adopting the technology. Recommendations are provided to various maritime stakeholders to seize the emerging opportunities provided by blockchain and mitigate relevant risks.

Operational Efficiency and Small and Medium Enterprise Growth in South Africa

Krishna Kistan Govender — 2024-03-05

SMEs are pivotal in South Africa’s economic growth path and the sector is identified as the key provider of employment, projecting that by 2030, ninety percent of jobs in SA will be created through SMEs. Unemployment in South Africa is at an all-time high, more than 30 percent of the economically active population is without jobs since South Africa’s democratically elected government. Thus, this study explored the operational efficiency factors that are largely controlled by SMEs, which could impact their growth. Data from a quantitative research design using an online survey was analyzed using descriptive and inferential statistical techniques.

It was ascertained that operational efficiency (OE) is positively related to SME growth. The study tested eight (8) factors of growth, namely, the number of people employed, sales, revenue, gross profit, value of assets, number of customers, number of vendors and number of suppliers. The findings reveal that all eight (8) growth measures combine to form a reliable composite variable that can be used to measure growth in small businesses.

A significant contribution of the study is that the seven OE practices, namely, Lean practice, Supply Chain Management, Human Resource Management, Technology, Innovation, Marketing, and Quality, that comprise sub-elements of OE, Technological Practices and Innovation are significant predictors of small business growth. Thus, SMEs that embrace technological and innovation practices are more likely to survive and grow and consequently create jobs.

The Role of Integrated Promotional Strategies in Aiding the Success of SMMEs in the Retail Sector in Durban.

Norman Mahohoma — 2024-03-05

The success of Small, Medium and Micro Enterprises (SMMEs) in Durban's retail sector is crucial for both the local economic vitality and community engagement. Despite this importance, these enterprises often struggle with maintaining visibility and competitiveness. However, there is a solution in the form of integrated promotional strategies, which bring together different marketing channels to deliver a coherent message to the target audience. To further understand the impact of these strategies, this study aims to delve into their role in the success of retail SMMEs in Durban. 217 owner-managers of retail SMMEs in Durban provided data using self-administered questionnaires with a 5-point Likert scale, resulting in 88% response rate. Analysing the data using a variety of descriptive and inferential methods, we utilised the statistical software SPSS Version 29. The results displayed an overall agreement among respondents regarding the effectiveness of integrated promotional strategies such as sales promotion, branding, digital marketing, and social media. However, respondents had divided opinions on the effectiveness of public relations, email communication, and telemarketing. In conclusion, it was evident that integrated promotional strategies play a crucial role in the success of retail small and medium enterprises (SMMEs) in Durban by boosting visibility, strengthening brand recognition, and fostering customer engagement. Through the implementation of personalised and cohesive promotional strategies, SMMEs can better navigate the competitive market and ultimately attain long-term growth and success.

Impact of Creative and Aggressive Accounting on the Quality of Financial Reporting in the Hospitality Industry in Zimbabwe

Banele Dlamini — 2024-03-05

Objectives The study examined the impact of creative and aggressive accounting on the quality of financial reporting in the hospitality industry in Zimbabwe., Prior Work The study also identified the motives behind creative accounting and established the areas that are mainly affected by creative accounting in financial reporting. Approach This study adopted a mixed-methods research design, integrating both qualitative and quantitative approaches. Twenty-six semi-structured interviews were conducted, and financial statements were analyzed from five hotels which were randomly sampled. Results The study found that management uses creative accounting for their personal gain, to improve share market prices, to avoid paying taxation, to ensure that they do not fail in debt covenants, and to acquire loans from financial service providers. The study found that hotels in Zimbabwe use creative accounting methods such as altering accounting principles, asset valuation, intra-company transactions, undervaluing liabilities, and early revenue recognition. The findings further revealed that there is a significant relationship between creative accounting practices and the quality of financial reporting in the hospitality industry in Zimbabwe. Implications This suggests that those entities that practice creative accounting practices in manipulating their financial statements, jeopardize the quality of the reports, and misleading various stakeholders, hence, they should be sanctioned or forced to pay penalties. Value This study provides research-based knowledge as it is the first studies to be conducted in Zimbabwe on creative accounting in the hospitality industry in Zimbabwe.

Ownership Concentration and Performance: JSE-TOP40 Perspective

Lethabo Mosimanyane — 2024-03-05

This study aims to address the problem of agency cost by examining the impact of ownership concentration on the performance of the JSE-TOP40 listed companies, using the profitability and market variable. The effectiveness of ownership concentration in alleviating the agency cost issue was investigated over a period from 2010 to 2018. The findings revealed that company performance deteriorated with managerial ownership for JSE-TOP40 companies. Likewise, results showed that foreign ownership concentration negatively impacted performance. The persistence of agency costs in these companies imply that companies should continue to monitor them vigorously and apply corporate governance to the detriment of the poor performance. Further, corporate governance implication should be questioned as to its benefit extracted towards these companies.

An Expository Overview of the Financial Integrity Risk Associated with the Relaxation of Financial Regulation to Promote Financial Innovation through Mobile Money Services in Zimbabwe

Howard Chitimira — 2024-03-05

The rationale for financial regulation is to promote and maintain financial integrity in the financial sector of any country. In this regard, it is important to note that the need for access to formal financial services such as credit, insurance and banking is being addressed by financial technology (fintech), particularly mobile money services (MMS) in Zimbabwe. However, the relevant laws in Zimbabwe do not expressly provide for fintech innovation. Moreover, the Zimbabwean policy makers have grappled with the constant and rapid growth of fintech. The Zimbabwean policy makers have struggled to strike a balance between maintaining financial integrity and creating an environment that promotes financial innovation. Thus, the Zimbabwean policy-makers have a tricky responsibility of safeguarding the stability of the financial sector while simultaneously promoting financial innovation and new financial services and products. Given this background, this article investigate the challenges associated with the relaxation of financial laws to promote financial innovation such as MMS in Zimbabwe.

Workplace Training and Employee Effectiveness: A Case Study of Nigerian Banking Industry

Henry Odunayo — 2024-03-05

This study examined the intricate dynamics of workplace training within the Nigerian banking industry to discern its impact on employee effectiveness. The primary objectives of this study are: to ascertain the nuanced associations between cultural and contextual factors and the effectiveness of workplace training; to scrutinize the variance in employee outcomes and organizational performance contingent upon distinct training program categories; and to gauge the influence of novel training technologies on employee skills and performance. This study employs various statistical analyses, including chi-square tests, one-way ANOVA, and independent sample t-tests. Data collection encompassed structured questionnaires administered to 119 participants randomly selected from different banks. The findings revealed substantial correlations between cultural and contextual factors and the efficacy of workplace training, shedding light on the pivotal role of tailored initiatives. Moreover, the study revealed significant distinctions in employee outcomes and organizational performance across diverse training categories, affirming the influential role of strategic program classification. Notably, this research underscores the transformative potential of new training technologies, providing empirical evidence of their positive impact on employee skills and performance. This study presents an understanding of the multifaceted relationships within workplace training, offering valuable insights into the Nigerian banking sector. The recommendations emanating from these findings advocate for strategic enhancements in training initiatives, emphasizing the importance of cultural sensitivity, customized program categorization, and seamless integration of innovative training technologies.

Collective Influence of Financial Sector Development and Economic Growth on International Trade

Kitera Mlaudzi — 2024-03-05

Abstract: The purpose of this paper is to investigate the influence of financial development on international trade in Upper-middle-income countries. The paper focuses on financial stability as a key element of the financial system and investigates whether economic growth is a conduit through which banking sector development and stock market development influence international trade. Thus far, the impact of financial development on international trade has received limited attention. The study adopts the generalized methods of moments (GMM) approach, employing balanced panel data from 13 upper-middle-income countries for a period ranging from 2006–2017. Using the z-score as a proxy for financial stability, evidence suggests that banking sector development has a positive and significant influence on international trade, while stock price volatility as a proxy for financial market stability, was found to have had an insignificant influence on foreign trade. The study recommends that upper-middle-income countries implement policies or adopt monetary policy approaches that enhance financial stability. Further research should be conducted to investigate other channels as possible transmission mechanisms. This paper contributes to the global discourse of whether economic growth is a conduit through which financial development can influence international trade. Overall, the paper suggests that financial development plays a role in stimulating economic activities, but its impact or effect is subject to the choice of financial proxies use which may be unique based on economic circumstances of a given country.

Impact of Management Strategies on Corporate Performance of Selected Enterprises in Kano State, Nigeria

Zakari Musa — 2024-03-05

This study analysed the impact of strategic management on the profitability of selected enterprises in Kano State, Nigeria. Kano State's five largest publicly traded manufacturers were chosen. Primary data were collected via a questionnaire given to 330 randomly picked employees at the selected companies. Data for the study were analysed using ANOVA, correlation, and descriptive statistics. Management strategies were found to have a substantial influence on the corporate performance and profitability of some selected enterprises in Kano State. Management strategies also correlated positively with the degree to which enterprises faced competition. The results of this research indicate that management strategies have a crucial role in improving enterprise output in Kano State. The study concludes that Nigerian enterprises of all sizes should place a premium on management strategies, policies, and practises. The study has revealed the significant and multi-faceted impact of management strategy decisions, management policies, and management strategic programmes on the operational performance and profitability of enterprises in Kano State. The findings underscore the pivotal role of effective management strategies in shaping an organization's competitive advantage, resilience, and growth prospects in a dynamic enterprise environment. The study recommends that managers should invest more in management strategies and programmes that encourage creativity, progress, and adaptability. Evaluation and refinement of these programmes regularly are necessary to maintain their usefulness and currency.

Governance, Financial Inclusion and Foreign Remittances in Zimbabwe: A VECM Approach

Alexander Maune — 2024-03-05

This study examines the impact of governance and financial inclusion on remittances in
Zimbabwe using time series data collected from the World Bank database for the period 2009
to 2021. A vector error correction model was conducted using Stata/SE 14.2 to analyse the
short- and long-run relationships between the variables. The results demonstrate the existence
of cointegration in the model. The Johansen normalization long-run output showed a negative
impact of governance on remittances, as well as a positive impact of financial inclusion on
remittances. Both coefficients are statistically significant at the 1% level. Furthermore, the
results show that governance and financial inclusion in Zimbabwe have asymmetric effects
on remittances in the long run, on average, ceteris paribus. This study is important in policy
formulation and implementation. The government should create a conducive environment for
remittances through improved governance and financial inclusion policies.

The Bane of Legal Tender Redesign Policy on Economic Growth in Nigeria

F. O. Aribaba — 2024-03-05

The study examines the bane of legal tender redesign policies on economic growth in Nigeria. It employed a causal-comparative research design for the study. The data were collected for ten (10) years, spanning from 2013 to 2022, with quarterly observations specifically chosen to capture the recent challenges posed to the Nigerian economy during the period of redesigning the legal tender. The data was sourced from the National Bureau of Statistics (2023) report. The statistical method used included normality testing, descriptive statistics, and OLS regression analysis to test the research hypotheses. Data analysis was conducted using E-views 10.0 statistical software. The finding revealed that Kolmogorov-Smirnov and Shapiro-Wilk tests indicated a normal distribution, except for the inflation rate and GDP. The study's findings led to the rejection of all hypotheses, including INFR (t: 0.368060; p=0.7150>0.05), CPS (t: -0.696308; p=0.4907>0.05), and COB (t: 1.972444; p=0.0563≥0.05). As a result, the study concludes that the redesign of legal tender is only one aspect of economic policy. This suggests that redesigning legal tender notes with key national celebrations or anniversaries to boost feelings of patriotism and unity encourages positive mawkishness that promotes economic growth.

Determining Effectiveness of Monetary Transmission through Commercial Banks of Pakistan

Munib Badar — 2024-03-05

This study oversee the role of commercial banks of Pakistan whether effectively playing their significant role in monetary transmission. This study explores long and short-run relationships between monetary policy rate and commercial bank’s related variables and between commercial banks' related variables and macroeconomic variables. This study used quarterly data from 1998 to 2018 for the variables include central bank policy rate, Industry level data of bank deposits, bank loans and bank investments and gross domestic product. Data are collected from the official websites of the State Bank of Pakistan and tested by econometric techniques. Outcomes of this study reveal that monetary decisions influence commercial banks to some extent. However, these could not influence the economic aggregates significantly in Pakistan.

Metacognitive Intelligence and Internationalisation Strategy of Listed Bottling Companies in Nigeria

S. A Yusuff — 2024-03-05

The study investigates the effect of metacognitive intelligence on the internationalization strategy of listed bottling companies in Nigeria. The study employed survey research design with a population of seven (7) listed bottling companies having a staff population of (10,500) employees. Stratified and purposive sampling techniques were used to select Nigeria Bottling Company (soft drinks) and Nigerian Breweries (Breweries) due to the peculiarity of their products. Krejcie and Morgan sample size determination were used to select a sample size of (387). The instrument used for this study was a questionnaire. Data obtained were analysed using descriptive and regression statistics to test the research hypotheses at a significance level 0.05. The findings of the two hypotheses formulated revealed thus: multi-domestic intelligence (β = 0.047, t = 0.730; p-value = 0.466 > 0.05). Transnational intelligence (β = 0.387, t = 7.278; p-value = 0.000 < 0.05). It was observed that R² which is the coefficient of determination indicates that 85% variation in the internationalization strategy of bottling companies in Nigeria explained by other factors not captured in the hypotheses while 15% is explained by metacognitive intelligence variables used. The study concluded that metacognitive intelligence significantly influences internationalization strategy, thereby shaping the strategic decisions made by Nigerian bottling companies when expanding their business activities abroad. Thus, the policy implication was that Nigerian bottling companies should prioritize the development of metacognitive intelligence among their employees. Also, the integration of metacognitive skills in internationalization strategy will encourage the employees to reflect on their thought processes, decision-making strategies, and problem-solving approaches in the milieu of international business operations.