This document summarizes a research study on outsourcing at Prudential Bank Limited in Ghana. The study aimed to identify activities outsourced by the bank, examine the benefits and challenges of outsourcing. Key findings include:
1) The bank outsources non-core activities like security, catering, front desk staff to focus on core banking functions.
2) Benefits of outsourcing include cost savings, access to expertise, improved performance and quality of service.
3) Challenges include quality problems, loss of control, poor supplier selection and lack of planning.
This document summarizes the results of two projects on skills in New Zealand businesses. The first project examined skills availability and how skills shortages impact business strategy, vacancies, and training. The second project benchmarked management practices in New Zealand manufacturers against 16 other countries. The research found that skills shortages constrain business strategy and expansion. Hard-to-fill vacancies were most common for managers, professionals, and tradespeople. People management was identified as an area for improvement in New Zealand firms.
This document provides an overview of integrated thinking and integrated reporting. It discusses the emergence of integrated reporting and integrated thinking. Integrated thinking is defined as actively considering the relationships between an organization's operating units and the capitals it uses or affects, leading to integrated decision-making. The document also discusses what integrated thinking involves, including considering capitals, business models, stakeholders, and value creation over the short, medium and long term. It was found that organizations are at different stages of adopting integrated thinking and it is seen as a journey that takes time. Benefits identified include improved decision-making.
Development and Validation of a Scale for Measuring Internal Auditing Effecti...IJAEMSJORNAL
The document describes the development and validation of a scale to measure internal auditing effectiveness in Tunisian companies. It involved both qualitative and quantitative methods. Through a literature review and interviews, the researchers developed a 16-item scale across three dimensions: internal audit process, output of internal audit, and impact of internal audit. The scale was tested on 148 chief internal auditors using exploratory and confirmatory factor analysis. The validated scale provides a practical tool for managers and auditors to measure internal auditing effectiveness.
Implementation of Shared Service Centre on Financial Performance of Publicly ...s071185s
Cost reduction and efficiency are one of the company’s primary motives in implementing the shared service center, an internal outsourcing business model that centralizes back-office support functions for operating business units. This research aims to examine the effect of introducing the shared service center on productivity, as experienced by publicly listed Malaysian companies. This research has analyzed, using comparative techniques, whether substantial changes in cost structure, return on investment, efficiency, productivity, competitiveness, and profitability have occurred due to developing shared service centers. The relationship between these financial performance metrics is evaluated for five years using regression methods. Secondary data has been collected from financial reports and other publicly accessible documents such as business gadgets. The study also aims to recognize the advantages of shared service center implementation for financial results. The study has clearly indicated that SSC implementation is not always for the better, however. The increasing cost structure ratio indicates that the growth of total revenue due to SSC implementation is not as fast as the growth of operating expenses. Asset turnover is observed to be generally decreasing after SSC implementation. The graphical trending has rejected the claim that all the variables or financial performance indicators have improved after establishing SSC. The results of the ordinary least squares regression method have corroborated 4 out of 5 hypotheses – only the asset turnover ratio has revealed a relationship that is different from what has been predicted. The payback period can be included as an additional variable or determinant to further corroborate the time-specific benefits regarding future research
The document discusses workforce performance management (WPM) and Development Dimensions International (DDI) as a WPM vendor. It provides an overview of WPM, noting its benefits include improved strategy execution, employee engagement, performance management, and talent management. The document evaluates DDI's WPM capabilities, finding its strengths are in aligning goals with strategy, viewing employees holistically across their careers, providing consulting expertise, and facilitating change management.
The document discusses different ways of structuring business organizations and processes. It covers topics such as transaction costs, coordination mechanisms, outsourcing, and the impact of information technology on social structure. Key organization structures mentioned are hierarchy, market, and network.
The document summarizes the findings of a survey of 47 private and recently public companies about their first outside director. Key findings include:
1. Companies recruit their first outside director primarily for industry and leadership expertise to address specific strategic or operational issues. They focus on skills rather than governance experience.
2. The recruitment process is led by founders/CEOs and directors are often personally connected to insiders. Few candidates are considered.
3. First directors make meaningful contributions quickly in areas like strategy, mentoring, and improving governance processes. Their impact exceeds expectations for oversight alone.
This document provides information for students starting a business IT program at Bucks University. It introduces the lecturers and their contact information. It outlines the lecture and lab timetable and Blackboard online platform. It provides information on IT setup requirements and links for students. It also previews some of the topics that will be covered in the program like market research, organizational functions, SWOT analysis, business proposals, recruitment strategies, and performance measurement.
This document summarizes the results of two projects on skills in New Zealand businesses. The first project examined skills availability and how skills shortages impact business strategy, vacancies, and training. The second project benchmarked management practices in New Zealand manufacturers against 16 other countries. The research found that skills shortages constrain business strategy and expansion. Hard-to-fill vacancies were most common for managers, professionals, and tradespeople. People management was identified as an area for improvement in New Zealand firms.
This document provides an overview of integrated thinking and integrated reporting. It discusses the emergence of integrated reporting and integrated thinking. Integrated thinking is defined as actively considering the relationships between an organization's operating units and the capitals it uses or affects, leading to integrated decision-making. The document also discusses what integrated thinking involves, including considering capitals, business models, stakeholders, and value creation over the short, medium and long term. It was found that organizations are at different stages of adopting integrated thinking and it is seen as a journey that takes time. Benefits identified include improved decision-making.
Development and Validation of a Scale for Measuring Internal Auditing Effecti...IJAEMSJORNAL
The document describes the development and validation of a scale to measure internal auditing effectiveness in Tunisian companies. It involved both qualitative and quantitative methods. Through a literature review and interviews, the researchers developed a 16-item scale across three dimensions: internal audit process, output of internal audit, and impact of internal audit. The scale was tested on 148 chief internal auditors using exploratory and confirmatory factor analysis. The validated scale provides a practical tool for managers and auditors to measure internal auditing effectiveness.
Implementation of Shared Service Centre on Financial Performance of Publicly ...s071185s
Cost reduction and efficiency are one of the company’s primary motives in implementing the shared service center, an internal outsourcing business model that centralizes back-office support functions for operating business units. This research aims to examine the effect of introducing the shared service center on productivity, as experienced by publicly listed Malaysian companies. This research has analyzed, using comparative techniques, whether substantial changes in cost structure, return on investment, efficiency, productivity, competitiveness, and profitability have occurred due to developing shared service centers. The relationship between these financial performance metrics is evaluated for five years using regression methods. Secondary data has been collected from financial reports and other publicly accessible documents such as business gadgets. The study also aims to recognize the advantages of shared service center implementation for financial results. The study has clearly indicated that SSC implementation is not always for the better, however. The increasing cost structure ratio indicates that the growth of total revenue due to SSC implementation is not as fast as the growth of operating expenses. Asset turnover is observed to be generally decreasing after SSC implementation. The graphical trending has rejected the claim that all the variables or financial performance indicators have improved after establishing SSC. The results of the ordinary least squares regression method have corroborated 4 out of 5 hypotheses – only the asset turnover ratio has revealed a relationship that is different from what has been predicted. The payback period can be included as an additional variable or determinant to further corroborate the time-specific benefits regarding future research
The document discusses workforce performance management (WPM) and Development Dimensions International (DDI) as a WPM vendor. It provides an overview of WPM, noting its benefits include improved strategy execution, employee engagement, performance management, and talent management. The document evaluates DDI's WPM capabilities, finding its strengths are in aligning goals with strategy, viewing employees holistically across their careers, providing consulting expertise, and facilitating change management.
The document discusses different ways of structuring business organizations and processes. It covers topics such as transaction costs, coordination mechanisms, outsourcing, and the impact of information technology on social structure. Key organization structures mentioned are hierarchy, market, and network.
The document summarizes the findings of a survey of 47 private and recently public companies about their first outside director. Key findings include:
1. Companies recruit their first outside director primarily for industry and leadership expertise to address specific strategic or operational issues. They focus on skills rather than governance experience.
2. The recruitment process is led by founders/CEOs and directors are often personally connected to insiders. Few candidates are considered.
3. First directors make meaningful contributions quickly in areas like strategy, mentoring, and improving governance processes. Their impact exceeds expectations for oversight alone.
This document provides information for students starting a business IT program at Bucks University. It introduces the lecturers and their contact information. It outlines the lecture and lab timetable and Blackboard online platform. It provides information on IT setup requirements and links for students. It also previews some of the topics that will be covered in the program like market research, organizational functions, SWOT analysis, business proposals, recruitment strategies, and performance measurement.
This document discusses a study analyzing the role of competitive advantage in relationships between talent management, knowledge management, and organizational performance at Sharia banks in Indonesia. The study used a quantitative survey of 105 bank employees. The results showed that talent management and knowledge management significantly influence competitive advantage and organizational performance, and competitive advantage also influences organizational performance. The document provides background on talent management, knowledge management, competitive advantage, and organizational performance based on prior literature.
This document is an assignment cover sheet and assessment sheet for a student named Wellage Dimithri Sadeepa Jayamali submitting an assignment on corporate governance for the Master of Business Administration program. The assignment involves conducting a review of the corporate governance of Hayleys Fibre PLC, a Sri Lankan manufacturer of eco-friendly coir products. Over 18 pages and 2790 words, the student analyzes Hayleys Fibre's board of directors, subcommittees, adherence to governance codes, and identifies areas for improvement. The assessment sheet will be used by the examiner to evaluate the student's work based on principles learned, application of principles, problem description, structure and other criteria.
SLASSCOM case study on how we implemented the shared services operation for the Hirdaramani Group, one of the largest apparel manufacturers in Sri Lanka.
Abstract:- This study aims to determine the effect of Good Corporate Governance mechanism and Financial Performance on firm value in banking companies. The method used in this research is research method of descriptive associative. The analytical tool used is multiple linear regressions, processed by using SPSS program version 23. The results obtained are partially there is a negative influence of Good Corporate Governance mechanism (independent board of commissioner, institutional ownership, and audit committee) on the value of the company and there is positive influence profitability (ROE) on firm value. While simultaneously, there is influence together mechanism of Good Corporate Governance and profitability to company value. The suggestion is that companies should consider the implementation of Good Corporate Governance and to measure the company's financial performance can use other measurements such as ROA and NPM. While to measure the company's value can also use other measurements such as Price Earnings Ratio (PER) or Tobin's Q.
The document discusses the internal organization of a firm, including its resources, capabilities, and core competencies. It defines these terms and explains how they contribute to competitive advantage. Specifically, it provides criteria for determining a firm's core competencies and discusses how core competencies can provide sustainable competitive advantage if they are valuable, rare, costly to imitate, and non-substitutable. However, the document also notes that core competencies carry risks of becoming outdated or imitated by competitors over time.
This study examines the effect of CEO pay on the performance of 11 quoted banks in Nigeria from 2005 to 2012. The study finds that CEO pay has a significant but negative influence on bank performance in Nigeria. This suggests that rather than aligning the interests of CEOs with shareholders, high CEO pay may actually be contributing to agency problems in the banking industry. The study concludes that banks should implement compensation packages that properly incentivize CEOs to improve shareholder value.
This document discusses the Malaysia Code on Corporate Governance (MCCG). It provides definitions of corporate governance and explains why governance is important for promoting business prosperity, accountability, and long-term shareholder value. The MCCG aims to raise corporate governance standards through flexible guidelines and principles rather than rigid rules. It encourages listed companies and other entities to embrace practices that enhance accountability, transparency and sustainability. The document outlines key features of the 2017 MCCG, including its application approach of "Comprehend, Apply and Report" to facilitate meaningful corporate governance disclosures.
In the race to serve Chinese consumer demand, foreign and local companies in China expand their capabilities through joint ventures and strategic alliances. 75% of companies are interested in entering a new business partnership in China. What are the challenges and success factors for these companies?
Discover these insights and more in our latest report, commissioned by PwC.
http://www.economistinsights.com/countries-trade-investment/analysis/courting-china-inc
Corporate governance involves establishing order between a firm's owners and top managers. It addresses the agency problem that arises from the separation of ownership and control, where managers may not always act in shareholders' best interests. Governance mechanisms like boards of directors, executive compensation, and market threats aim to align manager and shareholder goals. Effective governance also considers ethical treatment of all stakeholder groups.
The document provides an overview of HR due diligence. It discusses:
- The importance of due diligence and identifying risks and issues before making decisions
- The key areas of focus for HR due diligence including personnel, management, contracts, and financial areas
- The steps involved in conducting HR due diligence for a merger or acquisition, including comprehensively studying the firms, assessing risks, negotiating, and integrating policies and processes
- A case example of how to handle HR due diligence for an upcoming merger between two companies to ensure post-merger talent retention
This study examined the influence of the characteristics of the audit committee on Palestinian firms’ value. The research explores precisely the effect on the Audit Committee characteristics’ efficiency, namely, independence, expertise, evaluating the relationship among dependent and independent variables. Secondary data collected from a list of companies were registered in the Palestine Stock Exchange from 2011 to 2018. Individual variables considered are the independence & expertise of the audit committee, whereas the ROA is employed as the dependent variable as an indicator of a firm’s value. The results showed that the Audit Committee’s independence & expertise substantially positive with ROA. The study concluded that the audit committee’s characteristics are enhancing firm performance. The implications of this study’s findings can be used by decisions and policymakers, the firm’s management, and other stockholders’ interests to create reliable ties between agents and the principals.
Strategic leadership is important for determining strategic direction, exploiting core competencies, developing human capital, sustaining culture, emphasizing ethics, and establishing controls. Effective strategic leaders balance strategic and financial controls to achieve long-term returns. Characteristics of leaders, teams, and the environment influence the discretion leaders have over strategic decisions.
Corporate Governance and Earning Management in Saudi ArabiaAkashSharma618775
The research paper examines the corporate governance and earning management in Saudi Arabia. It
explores certain studies that worked in different areas and discusses their findings. The essential goal of this paper
is to exactly research the impact of the late corporate administration controls presented by Capital Market
Authority (CMA) on compelling income administration hone in Saudi Arabia. Corporate governance theory is
discussed here that elaborates the procedures of organization and different strategies. At that point speculations
are tried utilizing multivariate procedure to figure out whether corporate administration qualities essentially
oblige optional accumulations. The paper also discusses literature of previous studies and some methodologies are
discussed that are important. Three different types of methodologies are described here that are related to
organization. At the end, conclusion is presented.
Impact of ISO9001 Certification on the Beverage Company's Performance: A case...AkashSharma618775
This study tries to shade light on the effect of ISO9001 on Performance of Brewery companies in
Ethiopia. It empirically analyzes the impact of ISO9001 on the performance of brewery company's proxied by
profit of companies during the sample period of 2002-2015.The sample consists three brewery companies namely:
BGI-Ethiopia, Metha-Abo and Dashen brewery companies. The methodology is based on the Fixed effect model
estimator proposed for dynamic panel data, which is strong in the presence of endogenous covariates, allowing for
individual companies fixed effects, heteroskedasticity and autocorrelation. Based on findings, out of the four
independent variables average revenue and dummy of ISO9001 are positive and significant effect on companies
profit i.e an increase (decrease) in average revenue of companies results in a 5.517 percent increase (decrease) in
the company's profit. The result indicates that ISO9001 certification does have a strong significant positive impact
on brewery companies performance. As the result revealed a company's profit increases by 1.052% due to
ISO9001 certification. The other two explanatory variables average cost and natural logarithm of total sale become
statistically insignificant. In sum, the result of the study indicates that Having ISO9001 certification improves the
profitability of the brewery companies. This finding seems to agree with the study done by T. Dejene (2011) on five
brewery companies in Ethiopia and other scholars like D.S. Sharma(2005),M. Pinar(2001) and J. Singles et
al.(2000)
Determinants of Audit Fees: Evidence from Pharmaceutical and Chemical Industr...ijtsrd
The main objective of this study is to find out the factors that determine the audit fees in the listed pharmaceuticals and chemicals companies of Bangladesh. The study is conducted on 21 listed companies in the pharmaceuticals and chemicals industry during the period of 2015 to 2018. Client characteristics client size, leverage and return on assets , client's governance structure independent directors and audit committee and firm ranking are taken as the proxy variables of the determinants of audit fees. The study has found that client size, leverage and firm ranking have positive and significant impact on audit fees of the sample firm. On the other hand the proportion of independent directors in the board has a negative and significant impact on audit fees. However, the study did not find any significant association between audit fees and return on assets. It is suggested that policymakers should include more independent directors in the board for ensuring better governance to reduce the external audit fees. Besides, in case of maintaining obligatory audit committee, companies should consider the efficiency and effectiveness of the committee. Md. Noor Hossain | Raihan Sobhan "Determinants of Audit Fees: Evidence from Pharmaceutical and Chemical Industry of Bangladesh" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-1 , December 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29656.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/29656/determinants-of-audit-fees-evidence-from-pharmaceutical-and-chemical-industry-of-bangladesh/md-noor-hossain
Principle and Practice of Management MGT Ippt chap006IIUM
This chapter discusses the implications of globalization for companies and managers. It explains how the world economy is becoming more integrated through increased international trade, foreign investment, and competition across borders. This presents both opportunities and challenges for companies. The chapter then examines various strategies companies can use to compete globally, such as outsourcing, offshoring, choosing an organizational model, and entry modes. It also discusses managing operations across borders, including staffing with expatriates and developing skills for global managers. Finally, the chapter explores how cultural differences can influence management practices.
The Impact of Adopting International Auditing Standards on audit quality in S...AkashSharma618775
This study will investigate the Impact of Adopting International Auditing Standards on audit quality in
Saudi Arabia. The current research focuses on Saudi Arabia. This relatively large country in the Middle East is
known for two main things, its oil and Islam. The research objectives can be identified as: To evaluate the current
state of auditing practise in Saudi Arabia, to identify the need for the adoption of international auditing standards
in Saudi Arabia, to identify the challenges in the adoption of international auditing standards in Saudi Arabia, and
to evaluate the impact of the adoption of international auditing standards in Saudi Arabia. The research is
adopting a mixed methods strategy that will combine both qualitative and quantitative research. This research is
making several contributions to the academic literature in adoption International Auditing Standards in devolving
countries in in general, and more specific in Saudi Arabia.
Business Excellence Model: A Selective Studyijtsrd
Business today is being impacted by multiple forces” economic shocks, atomization of markets and demand, borderless commerce, advances in technology, a sense of hastening, and deconstruction of business. This paper starts the argumentation from how BEMs are dichotomously perceived by adopters, either prescriptive or descriptive. The prescriptive aspect indicates that the adopters treat BEM as a ˜must to achieve business excellence. And the descriptive aspect indicates that the adopters treat BEM as a ˜reference to inspect how the BE of the enterprise is. An effective BEM should be prescriptive-based for the principle of providing a ˜total solution to organizational management. To be this, the deficiencies found in the existing BEMs are firstly reviewed and the arguments in relation to the deficiencies are summarized. Then, four fundamental grounds for a inclusive BEM are raised in response to those deficiencies. A comprehensive model to meet the fundamental premises is finally proposed. Thenmozhi Arukutty"Business Excellence Model: A Selective Study" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-3 , April 2018, URL: http://www.ijtsrd.com/papers/ijtsrd11050.pdf http://www.ijtsrd.com/management/management-development/11050/business-excellence-model-a-selective-study/thenmozhi-arukutty
The document discusses research in contemporary human resource management. It provides an overview of Dr. Harry CD's research interests, which include globally distributed teams, behavioral patterns of distributed teams, and software teams. It then discusses topics like the macro and micro context of contemporary HRM, organizational complexity, the role of research in high-performance organizations, and how research can optimize organizational structures, processes and policies, and people practices.
This document provides an outline for a strategic management assignment on strategic decision making for a company called DL Limited.
1. It includes an introduction to strategic management and why it is important.
2. It performs an audit of DL Limited including a PESTLE analysis, SWOT analysis, and discusses Porter's 5 forces model and strategic positioning.
3. It reviews the literature on strategic decisions and discusses different schools of strategic thought.
4. It will critically analyze different frameworks for strategic decision making and provide recommendations to help DL Limited achieve its goals and objectives.
A transformational generative approach towards understanding al-istifhamAlexander Decker
This document discusses a transformational-generative approach to understanding Al-Istifham, which refers to interrogative sentences in Arabic. It begins with an introduction to the origin and development of Arabic grammar. The paper then explains the theoretical framework of transformational-generative grammar that is used. Basic linguistic concepts and terms related to Arabic grammar are defined. The document analyzes how interrogative sentences in Arabic can be derived and transformed via tools from transformational-generative grammar, categorizing Al-Istifham into linguistic and literary questions.
A trends of salmonella and antibiotic resistanceAlexander Decker
This document provides a review of trends in Salmonella and antibiotic resistance. It begins with an introduction to Salmonella as a facultative anaerobe that causes nontyphoidal salmonellosis. The emergence of antimicrobial-resistant Salmonella is then discussed. The document proceeds to cover the historical perspective and classification of Salmonella, definitions of antimicrobials and antibiotic resistance, and mechanisms of antibiotic resistance in Salmonella including modification or destruction of antimicrobial agents, efflux pumps, modification of antibiotic targets, and decreased membrane permeability. Specific resistance mechanisms are discussed for several classes of antimicrobials.
This document discusses a study analyzing the role of competitive advantage in relationships between talent management, knowledge management, and organizational performance at Sharia banks in Indonesia. The study used a quantitative survey of 105 bank employees. The results showed that talent management and knowledge management significantly influence competitive advantage and organizational performance, and competitive advantage also influences organizational performance. The document provides background on talent management, knowledge management, competitive advantage, and organizational performance based on prior literature.
This document is an assignment cover sheet and assessment sheet for a student named Wellage Dimithri Sadeepa Jayamali submitting an assignment on corporate governance for the Master of Business Administration program. The assignment involves conducting a review of the corporate governance of Hayleys Fibre PLC, a Sri Lankan manufacturer of eco-friendly coir products. Over 18 pages and 2790 words, the student analyzes Hayleys Fibre's board of directors, subcommittees, adherence to governance codes, and identifies areas for improvement. The assessment sheet will be used by the examiner to evaluate the student's work based on principles learned, application of principles, problem description, structure and other criteria.
SLASSCOM case study on how we implemented the shared services operation for the Hirdaramani Group, one of the largest apparel manufacturers in Sri Lanka.
Abstract:- This study aims to determine the effect of Good Corporate Governance mechanism and Financial Performance on firm value in banking companies. The method used in this research is research method of descriptive associative. The analytical tool used is multiple linear regressions, processed by using SPSS program version 23. The results obtained are partially there is a negative influence of Good Corporate Governance mechanism (independent board of commissioner, institutional ownership, and audit committee) on the value of the company and there is positive influence profitability (ROE) on firm value. While simultaneously, there is influence together mechanism of Good Corporate Governance and profitability to company value. The suggestion is that companies should consider the implementation of Good Corporate Governance and to measure the company's financial performance can use other measurements such as ROA and NPM. While to measure the company's value can also use other measurements such as Price Earnings Ratio (PER) or Tobin's Q.
The document discusses the internal organization of a firm, including its resources, capabilities, and core competencies. It defines these terms and explains how they contribute to competitive advantage. Specifically, it provides criteria for determining a firm's core competencies and discusses how core competencies can provide sustainable competitive advantage if they are valuable, rare, costly to imitate, and non-substitutable. However, the document also notes that core competencies carry risks of becoming outdated or imitated by competitors over time.
This study examines the effect of CEO pay on the performance of 11 quoted banks in Nigeria from 2005 to 2012. The study finds that CEO pay has a significant but negative influence on bank performance in Nigeria. This suggests that rather than aligning the interests of CEOs with shareholders, high CEO pay may actually be contributing to agency problems in the banking industry. The study concludes that banks should implement compensation packages that properly incentivize CEOs to improve shareholder value.
This document discusses the Malaysia Code on Corporate Governance (MCCG). It provides definitions of corporate governance and explains why governance is important for promoting business prosperity, accountability, and long-term shareholder value. The MCCG aims to raise corporate governance standards through flexible guidelines and principles rather than rigid rules. It encourages listed companies and other entities to embrace practices that enhance accountability, transparency and sustainability. The document outlines key features of the 2017 MCCG, including its application approach of "Comprehend, Apply and Report" to facilitate meaningful corporate governance disclosures.
In the race to serve Chinese consumer demand, foreign and local companies in China expand their capabilities through joint ventures and strategic alliances. 75% of companies are interested in entering a new business partnership in China. What are the challenges and success factors for these companies?
Discover these insights and more in our latest report, commissioned by PwC.
http://www.economistinsights.com/countries-trade-investment/analysis/courting-china-inc
Corporate governance involves establishing order between a firm's owners and top managers. It addresses the agency problem that arises from the separation of ownership and control, where managers may not always act in shareholders' best interests. Governance mechanisms like boards of directors, executive compensation, and market threats aim to align manager and shareholder goals. Effective governance also considers ethical treatment of all stakeholder groups.
The document provides an overview of HR due diligence. It discusses:
- The importance of due diligence and identifying risks and issues before making decisions
- The key areas of focus for HR due diligence including personnel, management, contracts, and financial areas
- The steps involved in conducting HR due diligence for a merger or acquisition, including comprehensively studying the firms, assessing risks, negotiating, and integrating policies and processes
- A case example of how to handle HR due diligence for an upcoming merger between two companies to ensure post-merger talent retention
This study examined the influence of the characteristics of the audit committee on Palestinian firms’ value. The research explores precisely the effect on the Audit Committee characteristics’ efficiency, namely, independence, expertise, evaluating the relationship among dependent and independent variables. Secondary data collected from a list of companies were registered in the Palestine Stock Exchange from 2011 to 2018. Individual variables considered are the independence & expertise of the audit committee, whereas the ROA is employed as the dependent variable as an indicator of a firm’s value. The results showed that the Audit Committee’s independence & expertise substantially positive with ROA. The study concluded that the audit committee’s characteristics are enhancing firm performance. The implications of this study’s findings can be used by decisions and policymakers, the firm’s management, and other stockholders’ interests to create reliable ties between agents and the principals.
Strategic leadership is important for determining strategic direction, exploiting core competencies, developing human capital, sustaining culture, emphasizing ethics, and establishing controls. Effective strategic leaders balance strategic and financial controls to achieve long-term returns. Characteristics of leaders, teams, and the environment influence the discretion leaders have over strategic decisions.
Corporate Governance and Earning Management in Saudi ArabiaAkashSharma618775
The research paper examines the corporate governance and earning management in Saudi Arabia. It
explores certain studies that worked in different areas and discusses their findings. The essential goal of this paper
is to exactly research the impact of the late corporate administration controls presented by Capital Market
Authority (CMA) on compelling income administration hone in Saudi Arabia. Corporate governance theory is
discussed here that elaborates the procedures of organization and different strategies. At that point speculations
are tried utilizing multivariate procedure to figure out whether corporate administration qualities essentially
oblige optional accumulations. The paper also discusses literature of previous studies and some methodologies are
discussed that are important. Three different types of methodologies are described here that are related to
organization. At the end, conclusion is presented.
Impact of ISO9001 Certification on the Beverage Company's Performance: A case...AkashSharma618775
This study tries to shade light on the effect of ISO9001 on Performance of Brewery companies in
Ethiopia. It empirically analyzes the impact of ISO9001 on the performance of brewery company's proxied by
profit of companies during the sample period of 2002-2015.The sample consists three brewery companies namely:
BGI-Ethiopia, Metha-Abo and Dashen brewery companies. The methodology is based on the Fixed effect model
estimator proposed for dynamic panel data, which is strong in the presence of endogenous covariates, allowing for
individual companies fixed effects, heteroskedasticity and autocorrelation. Based on findings, out of the four
independent variables average revenue and dummy of ISO9001 are positive and significant effect on companies
profit i.e an increase (decrease) in average revenue of companies results in a 5.517 percent increase (decrease) in
the company's profit. The result indicates that ISO9001 certification does have a strong significant positive impact
on brewery companies performance. As the result revealed a company's profit increases by 1.052% due to
ISO9001 certification. The other two explanatory variables average cost and natural logarithm of total sale become
statistically insignificant. In sum, the result of the study indicates that Having ISO9001 certification improves the
profitability of the brewery companies. This finding seems to agree with the study done by T. Dejene (2011) on five
brewery companies in Ethiopia and other scholars like D.S. Sharma(2005),M. Pinar(2001) and J. Singles et
al.(2000)
Determinants of Audit Fees: Evidence from Pharmaceutical and Chemical Industr...ijtsrd
The main objective of this study is to find out the factors that determine the audit fees in the listed pharmaceuticals and chemicals companies of Bangladesh. The study is conducted on 21 listed companies in the pharmaceuticals and chemicals industry during the period of 2015 to 2018. Client characteristics client size, leverage and return on assets , client's governance structure independent directors and audit committee and firm ranking are taken as the proxy variables of the determinants of audit fees. The study has found that client size, leverage and firm ranking have positive and significant impact on audit fees of the sample firm. On the other hand the proportion of independent directors in the board has a negative and significant impact on audit fees. However, the study did not find any significant association between audit fees and return on assets. It is suggested that policymakers should include more independent directors in the board for ensuring better governance to reduce the external audit fees. Besides, in case of maintaining obligatory audit committee, companies should consider the efficiency and effectiveness of the committee. Md. Noor Hossain | Raihan Sobhan "Determinants of Audit Fees: Evidence from Pharmaceutical and Chemical Industry of Bangladesh" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-1 , December 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29656.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/29656/determinants-of-audit-fees-evidence-from-pharmaceutical-and-chemical-industry-of-bangladesh/md-noor-hossain
Principle and Practice of Management MGT Ippt chap006IIUM
This chapter discusses the implications of globalization for companies and managers. It explains how the world economy is becoming more integrated through increased international trade, foreign investment, and competition across borders. This presents both opportunities and challenges for companies. The chapter then examines various strategies companies can use to compete globally, such as outsourcing, offshoring, choosing an organizational model, and entry modes. It also discusses managing operations across borders, including staffing with expatriates and developing skills for global managers. Finally, the chapter explores how cultural differences can influence management practices.
The Impact of Adopting International Auditing Standards on audit quality in S...AkashSharma618775
This study will investigate the Impact of Adopting International Auditing Standards on audit quality in
Saudi Arabia. The current research focuses on Saudi Arabia. This relatively large country in the Middle East is
known for two main things, its oil and Islam. The research objectives can be identified as: To evaluate the current
state of auditing practise in Saudi Arabia, to identify the need for the adoption of international auditing standards
in Saudi Arabia, to identify the challenges in the adoption of international auditing standards in Saudi Arabia, and
to evaluate the impact of the adoption of international auditing standards in Saudi Arabia. The research is
adopting a mixed methods strategy that will combine both qualitative and quantitative research. This research is
making several contributions to the academic literature in adoption International Auditing Standards in devolving
countries in in general, and more specific in Saudi Arabia.
Business Excellence Model: A Selective Studyijtsrd
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2. The Open Systems Model
3. What is organisational effectiveness?.
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5. What is organisational Analysis?
6. Organisational Analysis Cycle
7. Purposes and perspectives of organisational analysis.
8. Data Collection Methods. (Imagery; questionnaire; interviews;Observation;Focus groups; Secondary material, etc.
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- IT outsourcing refers to outsourcing of computer/internet work like programming to other companies. It is growing rapidly and estimated to be worth $163 billion in 2004.
- The report aims to analyze how IT outsourcing impacts employment and can increase unemployment as companies adopt new technologies.
- The outsourcing trend has become controversial as some see it as helping companies cut costs while others see it negatively impacting jobs in India. Rising unemployment is linked to more outsourcing of India jobs overseas.
This document provides an overview and summary of a seminar report on how increased IT outsourcing affects unemployment, with a focus on India. Some key points:
- IT outsourcing refers to outsourcing of computer/internet work like programming to other companies. It is growing rapidly and estimated to be worth $163 billion in 2004.
- The report aims to analyze how IT outsourcing impacts employment and can increase unemployment as companies adopt new technologies.
- The conclusion is that IT outsourcing is damaging India's economy by reducing jobs and increasing unemployment rates. When jobs are lost to outsourcing, spending decreases which impacts other businesses and incomes.
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Assessing the role of outsourcing in a financial institution
1. European Journal of Business and Management
ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online)
Vol.5, No.31, 2013
www.iiste.org
Assessing the Role of Outsourcing in a Financial Institution: The
Case of Prudential Bank Limited (Ghana).
Charles Mensah
Department of Purchasing and Supply, Accra Polytechnic, P. O. Box 561, Accra-Ghana
E-mail of the corresponding author: chalistone@yahoo.com
James Yaw Osei-Wusu
Department of Purchasing and Supply, Koforidua Polytechnic, P. O. Box KF 981, Koforidua-Ghana:
Emelia Nartey
Department of Purchasing and Supply, Accra Polytechnic, P. O. Box 561, Accra-Ghana
Abstract
Outsourcing has been growing both domestically and internationally in recent years. Contemporary highly
competitive business environment today acts as strong stimulus for firms to go outsourcing. In addition,
economic globalization facilitates the process of looking for opportunities on the global market to outsource
some of the firm’s activities instead of performing them on their own. However, there are challenges associated
with the practice. Methodology used was questionnaires, interviews and observations to collect data for the
research work. Interestingly, certain findings were discovered which include benefits and challenges faced by the
bank in outsourcing some of their activities. Some of these challenges were known to be quality problems;
inability to nurture-in-house talent, poor supplier selection, high cost, loss of managerial control, failure to
conduct outsourcing exercise, lack of proper planning and understanding the core activities from non-core
activities.
The assessment and evaluation of the findings clearly identified that Prudential Bank Limited outsources its noncore activities and its benefit can be seen in obtaining improved performance, cost savings, access to world class
capabilities, accelerated re-engineering benefits, shared risks, free resources for other purposes, improve quality
of service and adequate time for management. The study also further identified some of the non-core activities
outsourced as security services, catering services, front desk staff, fuel usage and cash picks and species. The
research was concluded with the statement that notwithstanding the challenges, outsourcing plays an important
role at Prudential Bank limited, since it enables the organisation to enjoy a lot of benefits and also concentrate on
their core activities.
Keywords: Outsourcing, Financial Institution, Core and Non-Core
1.0 Background of Study
Outsourcing refers to a system of hiring business services from the outside world, which were previously
provided internally or from within the country. Today, organisations increasingly hire services such as legal
services, music recording, book transcriptions, information technology, security, teaching etc. from the foreign
countries. Generally, services are outsourced by the companies in developed countries to developing or
underdeveloped countries. Outsourcing is one of the measures that management of various companies adopt to
cut down operation cost. Every company is established with a goal or mission and based on this the companies
have core-businesses or jobs and non-core businesses or jobs within the organization (Lyson, 2007). In light of
this, most companies try to outsource its non-core businesses or activities to a third party who can perform it
effectively and efficiently. The non-core activities of a company are those departments or units that do not form
the core businesses of the company.
1.1 Research Problem
The problem with this practise is that companies may not have the technical competence as well as the financial
strength to undertake all their core and non-core activities or functions and in such a situation there is the need
for organizations to contract out or outsource their non-core functions or activities and then concentrate on their
core activities. This will in the long run allow them to cut down cost of production, enjoy technical and quality
services from experts and many more. It is in this respect that the researchers, has decided to undertake this study
to actually find out some of the activities outsourced by prudential bank and if possible examine some of the
benefits and challenges associated with outsourcing at prudential bank.
1.2 Research Objective
The research was set to achieve the following objectives:
• Identify the activities outsourced by Prudential Bank Limited.
• Examine the effects (positive and negative) that Prudential Bank Limited derives from outsourcing.
• Identify the challenges that Prudential Bank Limited goes through in outsourcing.
1.3 Research Questions
The research sought to address the following research questions:
• What are the activities that are outsourced by Prudential Bank Limited?
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•
•
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What are effects of outsourcing on the operations of Prudential Bank Limited?
What are the challenges identified as Prudential Bank Limited outsources?
1.4 Justification and Significance of the Study
This research will identify possible gaps and benefits to be derived from outsourcing and it will serve as a policy guide
for many financial institutions springing up in Ghana and Africa as a whole.
2.0 Literature Review
2.1 Definition of Outsourcing
Outsourcing is defined as a contractual relationship between an external supplier and an enterprise in which the
supplier assumed the responsibility of one or two functioning or departments of the enterprise (White and James,
1993). Chartered Institute of Purchasing and Supply (CIPS) defines outsourcing as “the process of identifying
the most suitable expert third party service provider to undertake the management, administration and provision
of the service in question”. The ISO 9001 2008 sub clause 4.1 also defines the outsourced process as a process
that the organization needs for its quality management system and which the organization chooses to have it
performed by an external party. “Kotler and Keller (2000) also define outsourcing as “buying more goods and
service from outside domestic or foreign vendors” However in the view of Raiborn and others “outsourcing
refers to having work performed for one company by an off-site non-affiliate supplier.” In the words of Donald
et al the term outsourcing has evolved to connote the buy site of the make-or-buy decision. Likewise, according
to Monczka Trent and Handfield, authors of the purchasing and supply chain management (2nd edition, page
199) states that outsourcing as a business decisions is whether to produce a component, assemble, process or
service internally (in sourcing) or whether to purchase the same component, assemble, process or service from
an outside supplier (outsourcing).
2.2 Areas to be outsourced
When an organisation decides to outsource, there has to be an in-depth understanding of its core competencies.
Secondly, there should be intent to build or enhance the organisations’ competitive advantage. In most
companies, management normally outsourced departments that are not core to the establishment of the company.
Some companies outsourced areas or departments that they do not have distinctive competence to specialize.
This is because companies are normally set-up with the main aim of making profit or breaking even. In view of
this general aim, management of companies see it as beneficial to outsource some of its none-core areas or
departments to enhance the activities of the company.
2.2.1 Company Non-Core Activities
According to Baily et al (2002), non-core activities are areas that not are directly involved with the main aim or
objective under which a company has been established or better still departments which are not involve in the
production of the company’s main products or services. The non-core activities is the supporting activities within
a company like the cleaning, security, transport, catering etc.
2.2.2 Company Core Activities
Ibid (2002) of purchasing and supply chain management defined core activities as those that a company has
established with the aim of achieving their objectives or goals. The core activity is where the company has the
expertise for its organizational activities. Based on these principles, companies do not outsourced their core
activities but their none-core activities. The core activities of a manufacturing company may include the
production, marketing and supply chain departments.
2.2.3 Selection of Non-Core Activities/Jobs
Normally, management of various companies organize series of meeting on how to outsource their non-core
departments or activities. Upon the meetings held by management decisions are taken to outsource departments
or sections of the company whose activities are deemed not to be core. Also management evaluate the
outsourcing candidates based on the following:
2.3 Outsourcing Management
Outsourcing Management is a continuous and regular action or succession of actions occurring or performed in a
definite manner; a systematic series of action or operations directed to some end, Shorter Oxford English
Dictionary (2007). According to Horongren et al, survey of companies indicates that managers should consider
quality, dependability of suppliers and cost as the most important facts in management make –or-buy decision.
According to sourcingmag.com, the process of outsourcing generally encompasses four stages which are stated
below;
1. Strategic thinking, to develop the organization's philosophy about the role of outsourcing in its
activities.
2.
Evaluation and selection, to decide on the appropriate outsourcing projects and possible areas for the
work to be executed and the third party to do it.
3.
Contract development, to draw out the legal pricing and service level agreement (SLA) terms.
4.
Outsourcing managements or governance, to refine the ongoing working relationship.
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Burt et al (2010) has also stated that the starting point that most companies used in conducting the strategic
outsourcing analysis are to identify the major strength of the company and build on them. The question to ask is
what is it that no one can match us? It is essential to conduct a competitive analysis before commencing the
outsourcing analysis. This will allow the firm to appreciate its position, relative to the market, industry and
competitors.
2.4 Reasons for Outsourcing
According Lyson (2007), there are numerous benefits or advantages that firms can derive from outsourcing.
Some of these benefits are outlined as;
• Lower Wages
• More Resources for Core Business Processes
• Lower Regulatory Costs
• Improve Business Focus
• Access to World Class Capabilities
• Access to Technical Skills and Quality Human Resource
• Accelerated Re-Engineering Benefits
• Shared Risks
• Improved Performance
• Skilled Manpower at Affordable Prices
2.5 Challenges of outsourcing
Belcourt (2006) believes that outsourcing is the best solution when an organization needs experts but it cannot
employ or train them. Many organizations are looking for financial saves, hiring experts or technologies; so they
outsource part of their processes. Consequently, some believe that outsourcing is a way to keep or increase
organizational advantages; and some consider it as one of the main causes of employees’ job insecurity
(Weidenbaum, 2005). In past, organizations apparently outsourced their side activities; today, we are observing
an increase in outsourcing scale. Nowadays, organizations outsource any process from technology management
to human resource management (Belcourt, 2006).
According to Stephenson (2007) there are many challenges associated with outsourcing or contracting out a
business. Some of these challenges are as follows;
• Lack of Proper Planning
• Failure to Conduct Outsourcing Exercise
• Loss of Control
• Poor Supplier Selection
• Lack of Understanding the Core Departments from None-Core
• High Cost
• Quality Problems
• Chance to Nurture In-House Talent Is Lost
3.0 Research Methodology
The researchers used both primary and secondary sources of data. Structured and Unstructured Interviews were
conducted for Individual and Group Interviews. The target population of this research comprises mainly the staff
and workers of Prudential Bank Limited, Kumasi – Atonsu branch. Comprising of senior staff, junior staff, and
staff of the transport and procurement departments. Out of a total population of 120, a sample size of 50 was
chosen for the study. The sample size covers the staff and workers within the procurement department of
Prudential Bank Limited. The sampling techniques adopted by the researchers for the research was purposive
and random sampling. Also with the random sampling, the simple random was used. After this was done, the
researcher used statistical package for social science (SPSS) to construct the frequency and percentage tables for
the study. Excel the 2010 version was also used to draw the tables, graphs, histograms and all diagrams related to
the research work. Quantitative and qualitative methods of analyzing statistical data were employed in the
analysis of the data. Percentage values, which are not round figures, were approximated to the nearest whole
numbers. Regression and mean were used for the analysis of statistical summaries of the results and tables.
3.1 Limitations of the Study
The research scope should have covered the entire financial institutions in Ghana to give adequate grounds for
generalization of the research findings but due to limited time frame the research was limited to Prudential
Bank Limited branch at Atonsu in Ghana.
4.0 Data Analysis, Presentation and Interpretation
The researchers intend to analyze some of the activities outsourced by Prudential Bank Limited, the benefits
derived from outsourcing these activities and challenges Prudential Bank Limited go through in outsourcing
some of their activities.
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4.1.1 Gender of Respondents.
Table 4.1 Gender of the Respondents
Gender
Frequency
Percentage (%)
Male
30
60
Female
20
40
Total
50
100
Research
ers Field
Survey (2013)
This data was obtained from fifty (50) staff from Prudential Bank limited, which comprised of staff from the
supply chain department and some administrative staff. It was made up of thirty (30) males and twenty (20)
females. In percentage terms the males were 60% whilst females were 40%.
4.1.2 Educational Background
The responses obtained from table 4.2 shows the educational background of the respondents as indicated on the
table below.
Table 4.2 Shows the Educational Background.
Levels of education
Number
Respondents
Basic Education
Tertiary Education
43
Secondary Education
of
Percentage (%)
86
7
14
Total
50
100
Source: Researchers’ Field Survey (2013)
From the table 4.2 above, forty-three (43) out of the total number of respondents had tertiary education
representing 86% whilst seven (7) of them had secondary education representing 14%. This means that majority
of the respondents had educated themselves up to the tertiary level.
4.1.3 Age Group of Respondents
Table 4.3 below shows the ages of respondents ranging from below 20years, 21 – 30, 31-40, and 41 years.
Table 4.3: A frequency table showing the age of the respondent
Ages
Frequency
Percentage (%)
Mean
Std. Deviation
Below 20 years
-
-
21-30years
10
20
31-40 years
31
62
41years and above
9
18
Total
50
100.0
2.7800
.974
Source: Researchers Field Survey, (2013)
Similarly, the average age was (mean 2.780, standard deviation 0.974), thus indicating that, the age was within
21 years to 40 years. This implies that respondents are mature enough and have good knowledge towards this
study.
4.1.4 Number of Years Worked
The responses obtained from the respondents as indicated on the table 4.5 below shows the number of years each
respondent worked with Prudential Bank Limited.
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Table 4.4 Number of years worked
Years
Frequency
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Percentage (%)
1-5 years
40
80
6-10 year
6
4
8
50
Std. Deviation
12
11-15year
Mean
100.0
Total
1.2800
.60744
Researchers field survey, (2013)
The average years (mean score 1.280 and standard deviation 0.60744). This revealed that respondents have been
working for the company for 1-5 years, mathematically three years’ experience in the organization. This implies
that respondents have experienced in the company and any information they gave can be used for making
decisions
4.1.5 Activities outsourced by The Prudential Bank Limited
The prudential bank outsources a number of their non-core activities in order to concentrate on the bank’s core
competencies to deliver efficient services to their numerous clients. The figure below is diagrammatical
presentation of such activities outsourced.
Figure 4.1: Activities Outsourced by the Prudential Bank Limited
Researchers field survey, (2013)
From figure 1 above, 22 % (11) of the respondents were of the view that one activity outsourced by Prudential
Bank Limited is security services. According to these respondents the issue of security is very critical in the
banking environment that is why prudential bank has outsourced this activity to a specialist company. The
specialist company is responsible for providing adequate security in the banking hall and its environs. Prudential
Bank Limited will hold the specialist company responsible if they fail to provide the necessary security to protect
the bank and its facilities. Cleaning services were also mentioned as one of the activities outsourced by
Prudential Bank Limited. Prudential Bank limited as a bank will always want to concentrate on his core activities
such as mobilizing savings and granting of loans, in view of this a non-core activity such as cleaning of the bank
is always given to a third party specialist to handle. This was the view of four (4) of the respondents representing
8%.
Additionally, three (3) of the respondents representing 6% mentioned catering services as one of the activities
outsourced by Prudential Bank Limited. To avoid uninterrupted service to customers of the bank, the bank has
contracted a catering firm that regularly provides catering services to the bank. This catering service basically
consists of lunch provided to the staff of the bank during every working day of the bank.
Sometimes to avoid employing so many professionals, Prudential Bank limited contracts its front line staff
employees to a third party Specialist Company. These front line workers include receptionists, labourers, office
clerks, messengers and many others. The employment of these front line workers helps often to reduce the cost
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associated with employing a whole number of workers at the bank. The above assertion was made by seven (7)
of the respondents representing 14%.
The usage of fuel is one that can accelerate the expenditure of a company if care and strict monitoring is not
done. Therefore to avoid or curtail this expenditure Prudential Bank Limited outsources its fuel usage to a third
party specialist or firm. This was the claim made by five (5) of the respondents representing 10% of the total
respondents. Finally, (20) representing 40% of the respondents were of the view that one of the activities
outsourced by Prudential Bank Limited is cash picks and species. Cash picks and Species are responsible for
conveying all cash generated by the various branches of prudential bank to the headquarters and then to the Bank
of Ghana. They are responsible for providing their own security and vehicle for this exercise. The third party
specialist will be held responsible by Prudential Bank limited if in the course of conveying cash from one branch
to another something happens on the way. According to Baily et al (2002),” non-core activities are areas that are
not directly involved with the main aim or objective under which a company has been established or better still
departments which are not involved in the production of the company’s main products or services.
The non-core activities is the supporting activities within a company like the cleaning, security, transport,
catering and what you departments.
Therefore, one can vividly conclude by saying that the analysis concerning activities outsourced by prudential
bank limited done in figure 1 above is real and conforms to existing literature.
4.1.6 Effects (benefits) of outsourcing
As has been discussed earlier, outsourcing has a great number of benefits to an organisation. In view of this the
researchers have found some benefits in relation to the bank’s core operations. These are explained by the
researcher using the correlation table below.
Table 4.5: The regression and correlation analysis of Reason/benefit of outsourcing
Source: Researcher field survey, (2013)
Star
Location
Std
T
Sig
Mean
Reason/benefit of outsourcing rating
ANOVA-Test
error
Square
Pearson
F(p)
(2-tailed)
r (p) N
Improve Business Focus
0.140
2.734; (0.67)
.168
5.218
0.67(a)
1.181
0.67
50
Access
to
World
Class 0.181(*)
4.004;(0.48)
0.246
.001
0.048(a). 2.5530
Capabilities
0.48
50
Accelerated
Re-Engineering 0.135
2.205; (.140)
.147
8.4112 0.140(a) .733
Benefits
0.140
50
Shared Risks
0.315(*)
6.710;(0.018)
.304
3.390
.018(a)
3.628
0.018
50
Free Resource for Other -0.150
3.744; (0.00)
.144
6.218
0.77(a)
2.182
Purposes
0.00
50
Improve quality of service
-0.101
5.04;(0.00)
0.186
.68
0.00(a).
2.880
0.00
50
-0.153
2.205; (0.00)
. 170
7.4112 0.00(a)
.844
Adequate time for management 0.00
50
Reduced cost
0.210
5.710;(0.01)
.204
2.390
0.01(a)
4.628
0.01
50
* Correlation is significant at the 0.05 level (2-tailed).
** Correlation is significant at the 0.01 level (2-tailed).
A. Predictors: (Constant), outsourcing
B. Dependent Variable: shared risk, cost, time management, business focus, and resource and world class
capabilities.
As shown in the above table, Pearson correlation analyses of the test indicate that, there exists a relationship
between the outsourcing activity and its benefit in relations to improve business focus as shown coefficient (r=
0.140). This means that outsourcing has a positive effect toward improving business focus. This is because
outsourcing helps to provide third party specialists with specialized skills and expertise which results in
improved performance and also helps increase revenue and as well as enhance customer satisfactions. However,
Sig (2-Tailed) value which is (0.67) and one-way ANOVA (F= 2.734, p = 0.67), it can conclude that, there is no
statistically significant outsourcing and its benefit in relations to improve business focus. In other words there is
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no quantitative proof, as a result it will be difficult to predict outcomes of improve business performance in the
organization.
Also coefficient of the above test revealed r= 0.181 (*) which shows that there is a relationship between
outsourcing and its benefit in relations to access to world class capabilities. This means, through acquisition of
third party with specialized skills and expertise enable organizations to gain competitive advantage over its
competitors. These expertise and skill might be in the form of manpower, equipment, facilities and many more
that prudential limited as an organization might not be privileged to have. In addition, Sig (2-Tailed) value which
is 0.48, it can be determined that, there are no statistically significant relationships between outsourcing and its
benefit in relations to access to world class capabilities and as determined by one-way ANOVA (F= 4.004, p =
.048).
Moreover coefficient of the correlation analysis r = 0.135 showed that, there is relationships between
outsourcing and its benefit in relations to accelerate re-engineering. This means that business process reengineering enables firms and organization to quickly release the anticipated benefits of re-engineering by
partnering an organization that has already re-engineering to world class status. In addition, Sig (2-Tailed) value
which is 0.140 concludes that, there is no statistically significant correlation between outsourcing and its benefit
in relations to accelerate re-engineering.
Besides, it shows coefficient of r = 0.315 (*) shows that there is a relationship between outsourcing and its
benefit in relations of sharing of risk. This means that, as prudential bank continues to practices outsourcing, risk
spread among organization that involve. In other words, the more organization continues to outsource from
another organization, risk reduced according to this study. In addition, Sig (2-Tailed) value which is 0.018, it can
conclude that there is a statistically significant relationship between outsourcing and its benefit in relations of
sharing of risk. Also, as determined by one-way ANOVA (F= 5.710, p = .018), However, the relative importance
of this factor does not significantly differ among the benefit of outsourcing.
Further, it also shows coefficient of r = (-0.150, -0.101,) shows that there is no relationship between outsourcing
and its benefit in relations to free resource for other purposes, and improve quality of service. This means that,
outsourcing will not actually help prudential bank to get free resource for purposes. In other words, it shows a
negative link towards free resource for other purposes and outsourcing does not really improve the quality of
service for the company. In addition, Sig (2-Tailed) value which is 0.00, it can conclude that there is no
statistically significant relationship between them, hence no quantitative proof, as results it will be difficult to
predict quality of service in the organization.
Lastly, the test indicates that, there is relationship exist between the outsourcing and its benefit in relations to
reduce cost as shown coefficient (r= 0.210). This means that outsourcing has a positive effect toward the cost.
This means that when company outsource, it has a direct effect on the cost of expenditure; this is because the
cost associated with an in-house employee is always higher than the cost of an outside service provider,
especially where the outside service provider has the necessary skills, manpower and the raw materials to
provide particular good or render a particular service. However, Sig (2-Tailed) value which is (0.01) and oneway ANOVA (F= 5.710, p = 0.01), it can conclude that, there is statistically significant outsourcing and its
benefit in relations to cost saving. In other words there is quantitative proof, as a result, it is not difficult to
predict that cost can be reduced through outsourcing.
4.1.7 Challenges of outsourcing in an organization
The research sought to identify challenges of outsourcing in an organization and assess the relative importance
of the pertinent problem to know if Prudential Bank Limited should continue outsourcing it non-core functions.
The challenges include: Quality problem, Chance to nurture in-house talent, poor supplier selection, high cost
and loss of control, failure to conduct outsourcing exercise, proper planning and lack of understanding. Data was
analyzed using Mean Scores (MSc.) and Standard Deviations (Std. Dev.). Mean Scores were used to determine
the extent to which the respondents considered each to be an effect/result of outsourcing. The scale ranges from
“very important” (1) to “not applicable” (4), Standard deviations was used to assess the relative importance of
the pertinent problem. However the score of “very important” and “important” was equivalent to 1 to 2.5 and the
scores “not important and not applicable” is equivalent to 2.6 to 4.
Table 4.6: One-Sample Statistics
Challenges of outsourcing
N
Quality problem
50
Chance to nurture – in house
50
Poor supplier selection
50
High cost
50
Loss of control
50
Failure
to
conduct
the
50
outsourcing exercise
Proper planning
50
Lack of understanding
50
Source: Researchers field survey, (2013)
Mean
2.140
1.760
2.340
2.060
1.920
1.720
Std. Deviation
1.1782
.8221
.9606
1.1322
1.0466
.9044
Std. Error Mean
.1666
.1162
.1358
.1601
.1480
.1279
1.600
2.080
.8329
1.0069
.1178
.1424
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Table 4.7 One-Sample Test
Test Value = 0
T
Df
Sig. (2-tailed)
Mean
Difference
Quality problem
12.843
49
.000
2.140
95% Confidence Interval
of the Difference
Lower
Upper
1.8052
2.4748
Chance to nature – in
house
Poor
supplier
selection
High cost
15.137
49
.000
1.760
1.5263
1.9937
17.224
49
.000
2.340
2.0670
2.6130
12.865
49
.000
2.060
1.7382
2.3818
Loss of control
12.971
49
.000
1.920
1.6225
2.2175
Failure to conduct
outsourcing
Proper planning
13.448
49
.000
1.720
1.4630
1.9770
13.582
49
.000
1.600
1.3633
1.8367
Lack
of
14.607
49
understanding
Source: Researchers field survey, (2013)
.000
2.080
1.7938
2.3662
NB; df; degree of freedom
Sig. (2-tailed); significant relationship
The results in Table above indicates that the challenges of outsourcing; quality problem was considered to be
important by respondents when dealing with outsourcing in prudential bank which shown a mean score of 2.140.
However, the relative importance of this challenge (quality problem) significantly differed among the practice of
outsourcing as reflected in the standard deviation of 1.1782 (Std. Dev. >1.0). In addition, chance to nurture inhouse talent also was very important as expressed by respondents in prudential bank as it shown a mean score of
1.760. However, their degree of consideration does not significantly differ among the practice of outsourcing
(Std. Dev. < 1.0). Also, poor supplier selection was important by respondents in the bank as it is shown a mean
score of 2.340. Conversely, their degree of consideration does not significantly differ among the practice of
outsourcing (Std. Dev. < 1.0). High cost, loss of control, failure to conduct outsourcing, lack of planning and
lack of understanding were considered to be important by respondents when dealing with outsourcing in
prudential bank which shown a mean score of 2.140. 2.060, 1.920, 1.720, 1.600 and 2.080) respectively. On the
other hand, the relative importance of these challenges does not significantly differ among the practice of
outsourcing as shown by a greater standard deviation (Std. Dev. <1.0) in relations to high cost, loss of control
and lack of understanding. With regards to Sig. (2-tailed) values; it can be concluded that, there is no statistically
significant effect of outsourcing on these challenges. In other words there is quantitative proof as to predict the
likelihood of a particular challenge. All these challenges are associated with the practices of outsourcing and
altogether add up to put outsourcing projects at risk.
Stevenson (2007) outlines a number of challenges associated with outsourcing. Some of these challenges include
high cost, lack of managerial control, inability to develop in-house talents and much more. It can therefore be
concluded by saying that there are challenges faced by Prudential Bank Limited with respect to outsourcing and
therefore conforms to existing literature.
5.0 Introduction
This chapter deals with a summary of the main findings, conclusion and recommendations that could help
Prudential Bank Limited in assessing its role from outsourcing.
5.1 Summary of findings
From the assessment and evaluation of the findings, it is clearly identified that Prudential Bank Limited
outsources its non- core activities and its benefit can be seen as obtaining improved performance, cost savings,
access to world class capabilities, accelerated re-engineering benefits, shared risks, free resources for other
purposes, improve quality of service and adequate time for management. The following difficulties were
identified: quality problems, inability to nurture-in-house talent, poor supplier selection, high cost, loss of
managerial control, failure to conduct outsourcing exercise, lack of proper planning and lack of understanding
the core activities from non-core. Security services, catering services, cleaning and sanitation services are some
of the non-core activities being outsourced. The others are cash picks and spices, advertising services and
transport and fuel usage services.
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5.2 Conclusion
The researchers would like to conclude by saying that notwithstanding the challenges associated with
outsourcing, outsourcing plays an important role at Prudential Bank limited, since the Bank enjoys a lot of
benefits and is also able to concentrate on their core activities.
5.3 Recommendations
From the viewpoint of the respondents and available information, the following recommendations including
others if properly adhered to could help improve the performance of Prudential Bank Limited and successfully
enable the organization to implement outsourcing.
In order to gain more benefits from outsourcing, management of Prudential Bank limited should select the right
third party specialists who have the skills and expertise in the area or department they want to outsource in order
not to waste resources.
Also management of Prudential Bank Limited should have a procurement department which will be responsible
for outsourcing instead of management or administration being in charge of outsourcing. The procurement
department have more expertise and knowledge on how best outsourcing can be done and the processes and
procedures involved in outsourcing.
Management of Prudential Bank Limited should put in place measures that will help in dealing with problems or
challenges associated with outsourcing when it arises.
The staff and workers of Prudential Bank Limited should be educated and informed on the activities that the
bank outsources in order for them to have more knowledge about outsourcing and give adequate information
when any staff is asked a question about outsourcing. Management of Prudential bank Limited should enhance
and as well as strengthen a good personal relationship with its service providers in order to gain more from each
other through solving of problems that arises from outsourcing.
Finally, management of Prudential Bank Limited should frequently assess and appraise their third party
specialists whom they contract some of their non-core activities and those who are not living up to standard, their
contract should not be renewed. This practice will always help the bank as an organization to enjoy better and
quality services from third party specialists.
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