This study has the purpose to examine the unidimension construct or latent variable from Primary Business Functions Learning of Small Industries Onix and Marble in Tulungagung Region. Confirmatory Factor Analysis (CFA) is used to examine the unidimensionality of construct learning of the Primary Business Function.Important findings generated through hypothesis testing model measurement is that construct learning of the Primary Business function can be measured validly and reliably by the dimensions of Finance, Production, and MarketingLearning Experiences. These findings prove that the dimensions of Finance Learning, Production,and Marketing were credible or systemic to constructlatent variables for the Primary Business Functions. It is indicated by the regression coefficients of all the dimensions of Primary Business Functions Learning Experiences that have a value of more than 2 CR, p-value less than 0.05, and with a coefficient of three dimensions of a high standard, which is 0.968 for the Learning Financial Functions dimension, and 0.992 for the dimension of Learning Function Production, and Marketing
Impact of Firm Specific Factors on Capital Structure Decision: An Empirical S...Waqas Tariq
This document summarizes a study that examines the impact of firm-specific factors on capital structure decisions of companies listed on the Dhaka Stock Exchange in Bangladesh from 2003-2007. The study tests whether factors like profitability, tangibility, non-debt tax shield, growth opportunity, liquidity, earnings volatility, size, dividend payment, managerial ownership, and industry classification significantly impact leverage. Regression analysis found profitability, tangibility, liquidity, and managerial ownership negatively impact leverage, while growth opportunity and non-debt tax shield positively impact leverage. Size, earnings volatility, and dividend payment were not found to be significant. Results also showed debt ratios differ significantly across industries in Bangladesh.
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.
The document discusses the impact of additional regulations on corporate collapses. It analyzes the advantages and disadvantages of introducing new regulations in response to corporate scandals. While additional regulations may increase accountability and prevent misconduct initially, they also motivate people to find ways around the laws, potentially resulting in more corporate failures. The best solution is a balanced approach combining necessary rules and guiding principles, focusing on ethics over just regulations. Introducing regulations without considering context or consequences is not an effective response.
This document summarizes a research article that examines factors affecting going concern audit opinions. The study analyzed 141 companies listed on the Indonesia Stock Exchange from 2012-2014. The results of the logistic regression analysis found that audit quality, company size, and managerial ownership affected the likelihood of a going concern audit opinion. However, the previous year's audit opinion, institutional ownership, growth, debt default, opinion shopping, bankruptcy prediction, audit committee activity, and audit committee membership did not affect the likelihood of a going concern audit opinion. The purpose of the study was to determine what factors influence the issuance of a going concern audit opinion for manufacturing companies listed on the Indonesia Stock Exchange.
The influence of managerial ownership,institutional ownership and voluntaryd...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Effects of ownership structure, capital structure, profitability and company...inventionjournals
This document examines how ownership structure, capital structure, profitability, and company growth influence firm value. It analyzes these factors for 9 companies in the consumer goods and miscellaneous industries in Indonesia from 2009-2013. The results show that:
1) Managerial ownership and capital structure did not significantly impact firm value, while institutional ownership, profitability, and company growth did significantly impact firm value.
2) Return on equity had the strongest effect on firm value.
3) When considered together, the factors of managerial ownership, institutional ownership, capital structure, return on equity, and earnings growth simultaneously had a significant effect on firm value.
Corporate governance practices and its impact on working capital management...Alexander Decker
The document summarizes a study that examined the impact of corporate governance practices on working capital management among listed manufacturing firms in Sri Lanka from 2007 to 2011. The study found that:
1) There was a significant impact of corporate governance practices on current liabilities to total assets, but not on cash conversion cycle or current assets to total assets.
2) Corporate governance practices, including board leadership structure, board size, board committees, and board meetings, were used as independent variables to measure their impact on working capital management measures like cash conversion cycle, current assets to total assets, and current liabilities to total assets.
3) Regression analysis revealed that only current liabilities to total assets were significantly influenced by corporate
This document discusses the author's dissertation topic on creating competitive advantage for Thailand's independent hotel businesses.
It includes definitions and examples of key variables like firm performance, competitive advantage, competitive environment, and internal resources. Metrics for measuring these variables are also presented, such as financial measures like sales growth and non-financial measures like customer satisfaction.
Survey results are shown relating competitive advantage to firm performance, with a beta of 0.48 indicating a 48% relationship. Metrics for assessing competitive advantage include cost effectiveness and product differentiation strategies around efficiency, costs, and new product development.
Impact of Firm Specific Factors on Capital Structure Decision: An Empirical S...Waqas Tariq
This document summarizes a study that examines the impact of firm-specific factors on capital structure decisions of companies listed on the Dhaka Stock Exchange in Bangladesh from 2003-2007. The study tests whether factors like profitability, tangibility, non-debt tax shield, growth opportunity, liquidity, earnings volatility, size, dividend payment, managerial ownership, and industry classification significantly impact leverage. Regression analysis found profitability, tangibility, liquidity, and managerial ownership negatively impact leverage, while growth opportunity and non-debt tax shield positively impact leverage. Size, earnings volatility, and dividend payment were not found to be significant. Results also showed debt ratios differ significantly across industries in Bangladesh.
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.
The document discusses the impact of additional regulations on corporate collapses. It analyzes the advantages and disadvantages of introducing new regulations in response to corporate scandals. While additional regulations may increase accountability and prevent misconduct initially, they also motivate people to find ways around the laws, potentially resulting in more corporate failures. The best solution is a balanced approach combining necessary rules and guiding principles, focusing on ethics over just regulations. Introducing regulations without considering context or consequences is not an effective response.
This document summarizes a research article that examines factors affecting going concern audit opinions. The study analyzed 141 companies listed on the Indonesia Stock Exchange from 2012-2014. The results of the logistic regression analysis found that audit quality, company size, and managerial ownership affected the likelihood of a going concern audit opinion. However, the previous year's audit opinion, institutional ownership, growth, debt default, opinion shopping, bankruptcy prediction, audit committee activity, and audit committee membership did not affect the likelihood of a going concern audit opinion. The purpose of the study was to determine what factors influence the issuance of a going concern audit opinion for manufacturing companies listed on the Indonesia Stock Exchange.
The influence of managerial ownership,institutional ownership and voluntaryd...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Effects of ownership structure, capital structure, profitability and company...inventionjournals
This document examines how ownership structure, capital structure, profitability, and company growth influence firm value. It analyzes these factors for 9 companies in the consumer goods and miscellaneous industries in Indonesia from 2009-2013. The results show that:
1) Managerial ownership and capital structure did not significantly impact firm value, while institutional ownership, profitability, and company growth did significantly impact firm value.
2) Return on equity had the strongest effect on firm value.
3) When considered together, the factors of managerial ownership, institutional ownership, capital structure, return on equity, and earnings growth simultaneously had a significant effect on firm value.
Corporate governance practices and its impact on working capital management...Alexander Decker
The document summarizes a study that examined the impact of corporate governance practices on working capital management among listed manufacturing firms in Sri Lanka from 2007 to 2011. The study found that:
1) There was a significant impact of corporate governance practices on current liabilities to total assets, but not on cash conversion cycle or current assets to total assets.
2) Corporate governance practices, including board leadership structure, board size, board committees, and board meetings, were used as independent variables to measure their impact on working capital management measures like cash conversion cycle, current assets to total assets, and current liabilities to total assets.
3) Regression analysis revealed that only current liabilities to total assets were significantly influenced by corporate
This document discusses the author's dissertation topic on creating competitive advantage for Thailand's independent hotel businesses.
It includes definitions and examples of key variables like firm performance, competitive advantage, competitive environment, and internal resources. Metrics for measuring these variables are also presented, such as financial measures like sales growth and non-financial measures like customer satisfaction.
Survey results are shown relating competitive advantage to firm performance, with a beta of 0.48 indicating a 48% relationship. Metrics for assessing competitive advantage include cost effectiveness and product differentiation strategies around efficiency, costs, and new product development.
This document discusses a qualitative research study on the role of talent management in human resources management within the aviation industry. The study was conducted through semi-structured interviews with 10 human resources managers over a 6 month period. The results revealed relationships between talent management and concepts like performance, potential, efficiency, effectiveness, qualification, suitability, and quality. It was observed that businesses need to identify and retain talented employees to adapt to technological, sociological, and scientific changes. Talent management aims to ensure talented individuals, the most valuable asset, participate in business processes and stay with the company long-term.
This document summarizes a study that investigated the effect of entrepreneurial competences on the success of paint manufacturing small and medium enterprises (SMEs) in Rivers State, Nigeria. The study hypothesized that three facets of entrepreneurial competence (strategic competence, operational competence, and learning competence) influence enterprise success. Data was collected through surveys of managers at 20 paint manufacturing firms and analyzed using statistical software. Results suggested that all three components of entrepreneurial competence positively impact enterprise success, with operational competence being the most important predictor of success. The study concluded that enterprise managers should focus on developing strategic, operational, and learning competences to enhance their business success.
1) The document examines the relationship between corporate social responsibility (CSR) and financial performance of Chinese listed companies, analyzing how CSR may have a deferred effect on improving financial metrics like return on assets (ROA) and return on equity (ROE).
2) It uses ordinary least squares regression to model the impact of current and previous years' CSR performance scores on current financial performance, controlling for factors like company size, earnings per share, industry, and age.
3) Preliminary results suggest CSR may not generate immediate financial gains but could improve financial performance over longer periods as CSR benefits materialize for stakeholders and boost a company's reputation, market share, and ultimately profits.
Study of the Static Trade-Off Theory determinants vis-à-vis Capital Structure...inventionjournals
This paper investigates the application of the Static Trade-Off theory regarding the capital structure of the Pakistani Chemical Industry. We have used panel data analysis for the sample of 31 listed chemical firms from the period 2005 to 2013. The study is unique in its type as unlike to Shah & Hijazi (2005) who studied many industrial sections, this study only focuses on the listed Chemical Firms. We used five independent variables such as Profitability (P), Tangibility (T), Liquidity (L), Firm Size (FS) and Total Assets Growth (TAG) to study the effect on independent variable Financial Leverage (FG). The results confirmed the relationship of Profitability, Liquidity and Firm Size. However the results were not confirmed for Tangibility and Firm Assets Growth. Even though the results for Tangibility were positive, however the significance of the coefficients failed to support the hypothesis. This study hold a unique position for researchers for future research and also has significance for the investors helping them to make wise investment decisions when investing in Pakistani Chemical Industry since this industry holds a major portion of industrial GDP of the country
This document discusses a study on the active adjustment of capital structure in consumer goods firms in Indonesia. It begins with an introduction to capital structure and how it is an important financial decision for firms. The consumer goods industry in Indonesia is growing rapidly and firms may seek external financing like debt or equity that can influence their capital structure.
The study aims to explore if consumer goods firms have an optimal target capital structure and whether managers actively adjust towards this target. The literature review covers various capital structure theories including Modigliani-Miller, trade-off theory, and how factors like taxes, financial distress, and adjustment costs influence a firm's capital structure decisions. There is still uncertainty around whether managers in consumer goods firms use active or
This document summarizes a literature review on business process reengineering (BPR). It analyzes 27 peer-reviewed articles on BPR published between 2012 and 2021 in the Scopus database. Key findings include:
1) The most publications were in 2015 and 2016, with journals like the Journal of Business Process Management publishing multiple articles.
2) Research covered issues like loss of employee autonomy and challenges implementing BPR in sectors like healthcare and aviation. Advantages included improved efficiency and competitiveness.
3) Future research prospects include further examining BPR implementation barriers in different contexts and sectors.
Determinants of corporate profitability in developing economiesAlexander Decker
This document analyzes the determinants of corporate profitability in developing economies, specifically Nigeria. A study was conducted using data from 40 randomly selected companies over 5 years. The study found positive relationships between firm size and financial leverage with corporate profitability. Capital structure and cash liquidity were found to have negative relationships with corporate profitability. The study recommended using different profitability indices and including additional variables to improve the model.
VARIED DIMENSIONS IMPACTING STRATEGIC DECISION MAKING PROCESS IN OIL AND GAS ...IAEME Publication
Nowadays, businesses have shifted their focus from product orientation to strategic orientation as they understood to recognize the importance of strategic approach and management in order to penetrate international markets. This is
because entering foreign markets require strategic planning and proactive market analysis of both internal and external business environments for successful penetration and long-term sustainability. This becomes more apparent in the case of
Oil and Gas companies as the industry is highly volatile with fewer products and more areas to gain a competitive edge. Thus, the focus of this study is to identify the varied Dimensions which Impacts Strategic Decision making process in Oil and Gas Industries of UAE In order to understand and examine the research problem of the study, both primary and secondary data collections were undertaken. The primary data for the
study was collected from 85 senior managers of 15 major
Oil/Gas companies operating in UAE, (EPCs, FEED Contractors and End users) . The samples had been
analysed with the ANOVA to test the hypothesis of the study. The ANOVA analysis between the responses of participants were calculated to understand the varied Dimensions Impacting Strategic Decision making process in Oil and Gas industries of UAE. Globalization and Technological advancement have made imperative the need for a strategic approach in businesses, in order to remain competitive and sustainable in the long run. Thus, organisations need to pay attention to the importance of evaluation, implementation, and advancement of strategies while implementing decisions for business profitability and sustainability. International business poses new challenges everytime especially in the verticals of Oil/Gas industires, which in turn initiated managers and necessitated them to analyse, evaluate, implement their
strategies in a proactive manner to gain a competitive edge over rival firms
The document discusses the key concepts of business, profession, and employment. It defines business as an activity pursued with the objective of earning profit through the production and exchange of goods and services. Profession is defined as an occupation requiring specialized skills and knowledge obtained through formal education and training. Employment involves working under a contract for an employer in return for wages or salary. The document then compares and contrasts business, profession, and employment based on factors such as formation, type of work, qualifications, motive, investment, membership, and risk.
It goes on to discuss the functions, objectives, requirements, and scope of business. The functions of business include production, marketing, finance, and personnel. The objectives include both economic goals
International Journal of Engineering Research and DevelopmentIJERD Editor
Electrical, Electronics and Computer Engineering,
Information Engineering and Technology,
Mechanical, Industrial and Manufacturing Engineering,
Automation and Mechatronics Engineering,
Material and Chemical Engineering,
Civil and Architecture Engineering,
Biotechnology and Bio Engineering,
Environmental Engineering,
Petroleum and Mining Engineering,
Marine and Agriculture engineering,
Aerospace Engineering.
CEO compensation and performance evaluation has become a highly contention issue in the business world. Several
factors appear to be behind the image problem but the uppermost is the dramatic increase in CEO reward in recent
decade. Wage efficiency theory argues higher compensation would increase the performance but on the evaluation of
CEO performance many issues are faced in selecting performance measurement indicators. The purpose of this paper
is to extend discussions in evaluating the CEO performance in research domain. Based on agency theory, the model
of this research is developed. The cross-sectional data was collected by questionnaires. By applying regression
model, this study revealed that independent directors and female directors on the use of non-financial measures in
CEO performance evaluation, are found to be positively associated with the use of non-financial measures which
reinforce the findings of prior studies in regarding their influence on the use of non-financial measures in CEO and
corporate performance evaluation. The ratio of female directors on the BOD is significantly and positively associated
with the use of non-financial measures in the evaluation of CEO performance. This study contributes economically,
socially and politically
1) The document discusses strategic productivity through marketable technology and how technology managers can increase productivity.
2) It explains that organizations can improve productivity by basing employee pay on technology performance rather than just time.
3) The article also examines how organizations can develop their knowledge, technology, and culture assets to motivate employees and improve performance.
Management of working capital in national aluminium company 3 (1)prj_publication
This document analyzes working capital management in the National Aluminium Company (NALCO) over a 15-year period from 1995-1996 to 2009-2010. It aims to evaluate NALCO's management of cash, receivables, inventory, and the impact of working capital management on profitability. The author hypothesizes that cash balances affect operating expenses, provisioning for doubtful debts impacts receivables, inventory levels influence sales, and working capital management impacts profits. Statistical analysis is conducted to test these hypotheses using NALCO's annual reports and secondary data sources.
Determinants of firms’ profitability in pakistanAlexander Decker
This document summarizes a research study that analyzed the determinants of profitability of Pakistani firms. The study examined the relationship between capital structure, financial leverage, firm size and corporate profitability. Data was collected from 50 Pakistani companies over 7 years. Regression analysis found a positive correlation between financial leverage and profitability, and between firm size and profitability. It found a negative correlation between capital structure and profitability. The study concluded additional variables could improve the model for determining corporate profitability.
Wage System Manufacturing Company: Normative and ExpectationsHendra Gunawan
The study determine the wages models applied by the company in Batam which is expected to provide a wide range of reference models in different strata of wage and cluster companies. It is also expected to help the local government as a factor in determining the minimum wage policy making through recommendations wages models are ideal in Batam. Data was collected using interview techniques to the manufacturing industry in three related units in a company that is human resource, administrative staff and production staff. The results of the study were analyzed qualitatively to explore models that have been applied and the desire of employees. The model has been applied to remuneration in accordance with the general models that already exist, but there are still some wishes of the employees on the compensation of employees in the company they both administrative and production employees. Researchers also analyzed employee satisfaction with the existing system and the results are most of the employees did not feel satisfed with the remuneration system.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
This document summarizes a study that investigated the importance of capacity building and infrastructure development for the entrepreneurial practices of university graduates in Bayelsa State, Nigeria. The study found that 60% of male and 70% of female respondents agreed that capacity building and infrastructure development are important. There was no significant difference between male and female respondents in their views. The study concluded that capacity building and infrastructure development are both important to enhance entrepreneurial practices among university graduates in Bayelsa State.
An appraisal on small firms corporate cultureprjpublications
This document discusses the relationship between corporate culture, innovation, and reward systems in small firms. It argues that developing a corporate culture that supports innovation must be accompanied by an appropriate reward system. A study of small firms in Chennai found a statistically significant relationship between corporate cultures that support innovation and reward system features. Most innovative companies have reward systems that encourage and reinforce innovative behaviors that are part of the corporate culture. Statistically significant relationships were also found among innovation rewards, corporate culture, and different features of variable pay systems.
Roma, 1 e 2 dicembre: durante il Forum CSR, ampio spazio sarà dedicato alle novità sulla rendicontazione di sostenibilità e alla generazione di valore che può produrre una buona comunicazione. Saranno, inoltre, presentati i risultati della ricerca "Sustainability is good for business" che - partendo dalle tre direzioni di legalità, responsabilità generazionale e ingegnosità collettiva - vuole mostrare al mercato perché e come sia sconveniente per il business compiere scelte non sostenibili.
Consulta il programma dettagliato dei lavori (aggiornato al 23/11/2016 o scaricalo sempre aggiornato su http://bit.ly/1RPyWPz) per conoscere tutti i temi e i relatori già confermati e iscriviti!
Bancaforte.it è Media Partner del Forum.
At Skillful Financial Services, we specialize in all types of financial transaction including Refinance in Ingleburn. Visit us now for more information about our services.
This document discusses a qualitative research study on the role of talent management in human resources management within the aviation industry. The study was conducted through semi-structured interviews with 10 human resources managers over a 6 month period. The results revealed relationships between talent management and concepts like performance, potential, efficiency, effectiveness, qualification, suitability, and quality. It was observed that businesses need to identify and retain talented employees to adapt to technological, sociological, and scientific changes. Talent management aims to ensure talented individuals, the most valuable asset, participate in business processes and stay with the company long-term.
This document summarizes a study that investigated the effect of entrepreneurial competences on the success of paint manufacturing small and medium enterprises (SMEs) in Rivers State, Nigeria. The study hypothesized that three facets of entrepreneurial competence (strategic competence, operational competence, and learning competence) influence enterprise success. Data was collected through surveys of managers at 20 paint manufacturing firms and analyzed using statistical software. Results suggested that all three components of entrepreneurial competence positively impact enterprise success, with operational competence being the most important predictor of success. The study concluded that enterprise managers should focus on developing strategic, operational, and learning competences to enhance their business success.
1) The document examines the relationship between corporate social responsibility (CSR) and financial performance of Chinese listed companies, analyzing how CSR may have a deferred effect on improving financial metrics like return on assets (ROA) and return on equity (ROE).
2) It uses ordinary least squares regression to model the impact of current and previous years' CSR performance scores on current financial performance, controlling for factors like company size, earnings per share, industry, and age.
3) Preliminary results suggest CSR may not generate immediate financial gains but could improve financial performance over longer periods as CSR benefits materialize for stakeholders and boost a company's reputation, market share, and ultimately profits.
Study of the Static Trade-Off Theory determinants vis-à-vis Capital Structure...inventionjournals
This paper investigates the application of the Static Trade-Off theory regarding the capital structure of the Pakistani Chemical Industry. We have used panel data analysis for the sample of 31 listed chemical firms from the period 2005 to 2013. The study is unique in its type as unlike to Shah & Hijazi (2005) who studied many industrial sections, this study only focuses on the listed Chemical Firms. We used five independent variables such as Profitability (P), Tangibility (T), Liquidity (L), Firm Size (FS) and Total Assets Growth (TAG) to study the effect on independent variable Financial Leverage (FG). The results confirmed the relationship of Profitability, Liquidity and Firm Size. However the results were not confirmed for Tangibility and Firm Assets Growth. Even though the results for Tangibility were positive, however the significance of the coefficients failed to support the hypothesis. This study hold a unique position for researchers for future research and also has significance for the investors helping them to make wise investment decisions when investing in Pakistani Chemical Industry since this industry holds a major portion of industrial GDP of the country
This document discusses a study on the active adjustment of capital structure in consumer goods firms in Indonesia. It begins with an introduction to capital structure and how it is an important financial decision for firms. The consumer goods industry in Indonesia is growing rapidly and firms may seek external financing like debt or equity that can influence their capital structure.
The study aims to explore if consumer goods firms have an optimal target capital structure and whether managers actively adjust towards this target. The literature review covers various capital structure theories including Modigliani-Miller, trade-off theory, and how factors like taxes, financial distress, and adjustment costs influence a firm's capital structure decisions. There is still uncertainty around whether managers in consumer goods firms use active or
This document summarizes a literature review on business process reengineering (BPR). It analyzes 27 peer-reviewed articles on BPR published between 2012 and 2021 in the Scopus database. Key findings include:
1) The most publications were in 2015 and 2016, with journals like the Journal of Business Process Management publishing multiple articles.
2) Research covered issues like loss of employee autonomy and challenges implementing BPR in sectors like healthcare and aviation. Advantages included improved efficiency and competitiveness.
3) Future research prospects include further examining BPR implementation barriers in different contexts and sectors.
Determinants of corporate profitability in developing economiesAlexander Decker
This document analyzes the determinants of corporate profitability in developing economies, specifically Nigeria. A study was conducted using data from 40 randomly selected companies over 5 years. The study found positive relationships between firm size and financial leverage with corporate profitability. Capital structure and cash liquidity were found to have negative relationships with corporate profitability. The study recommended using different profitability indices and including additional variables to improve the model.
VARIED DIMENSIONS IMPACTING STRATEGIC DECISION MAKING PROCESS IN OIL AND GAS ...IAEME Publication
Nowadays, businesses have shifted their focus from product orientation to strategic orientation as they understood to recognize the importance of strategic approach and management in order to penetrate international markets. This is
because entering foreign markets require strategic planning and proactive market analysis of both internal and external business environments for successful penetration and long-term sustainability. This becomes more apparent in the case of
Oil and Gas companies as the industry is highly volatile with fewer products and more areas to gain a competitive edge. Thus, the focus of this study is to identify the varied Dimensions which Impacts Strategic Decision making process in Oil and Gas Industries of UAE In order to understand and examine the research problem of the study, both primary and secondary data collections were undertaken. The primary data for the
study was collected from 85 senior managers of 15 major
Oil/Gas companies operating in UAE, (EPCs, FEED Contractors and End users) . The samples had been
analysed with the ANOVA to test the hypothesis of the study. The ANOVA analysis between the responses of participants were calculated to understand the varied Dimensions Impacting Strategic Decision making process in Oil and Gas industries of UAE. Globalization and Technological advancement have made imperative the need for a strategic approach in businesses, in order to remain competitive and sustainable in the long run. Thus, organisations need to pay attention to the importance of evaluation, implementation, and advancement of strategies while implementing decisions for business profitability and sustainability. International business poses new challenges everytime especially in the verticals of Oil/Gas industires, which in turn initiated managers and necessitated them to analyse, evaluate, implement their
strategies in a proactive manner to gain a competitive edge over rival firms
The document discusses the key concepts of business, profession, and employment. It defines business as an activity pursued with the objective of earning profit through the production and exchange of goods and services. Profession is defined as an occupation requiring specialized skills and knowledge obtained through formal education and training. Employment involves working under a contract for an employer in return for wages or salary. The document then compares and contrasts business, profession, and employment based on factors such as formation, type of work, qualifications, motive, investment, membership, and risk.
It goes on to discuss the functions, objectives, requirements, and scope of business. The functions of business include production, marketing, finance, and personnel. The objectives include both economic goals
International Journal of Engineering Research and DevelopmentIJERD Editor
Electrical, Electronics and Computer Engineering,
Information Engineering and Technology,
Mechanical, Industrial and Manufacturing Engineering,
Automation and Mechatronics Engineering,
Material and Chemical Engineering,
Civil and Architecture Engineering,
Biotechnology and Bio Engineering,
Environmental Engineering,
Petroleum and Mining Engineering,
Marine and Agriculture engineering,
Aerospace Engineering.
CEO compensation and performance evaluation has become a highly contention issue in the business world. Several
factors appear to be behind the image problem but the uppermost is the dramatic increase in CEO reward in recent
decade. Wage efficiency theory argues higher compensation would increase the performance but on the evaluation of
CEO performance many issues are faced in selecting performance measurement indicators. The purpose of this paper
is to extend discussions in evaluating the CEO performance in research domain. Based on agency theory, the model
of this research is developed. The cross-sectional data was collected by questionnaires. By applying regression
model, this study revealed that independent directors and female directors on the use of non-financial measures in
CEO performance evaluation, are found to be positively associated with the use of non-financial measures which
reinforce the findings of prior studies in regarding their influence on the use of non-financial measures in CEO and
corporate performance evaluation. The ratio of female directors on the BOD is significantly and positively associated
with the use of non-financial measures in the evaluation of CEO performance. This study contributes economically,
socially and politically
1) The document discusses strategic productivity through marketable technology and how technology managers can increase productivity.
2) It explains that organizations can improve productivity by basing employee pay on technology performance rather than just time.
3) The article also examines how organizations can develop their knowledge, technology, and culture assets to motivate employees and improve performance.
Management of working capital in national aluminium company 3 (1)prj_publication
This document analyzes working capital management in the National Aluminium Company (NALCO) over a 15-year period from 1995-1996 to 2009-2010. It aims to evaluate NALCO's management of cash, receivables, inventory, and the impact of working capital management on profitability. The author hypothesizes that cash balances affect operating expenses, provisioning for doubtful debts impacts receivables, inventory levels influence sales, and working capital management impacts profits. Statistical analysis is conducted to test these hypotheses using NALCO's annual reports and secondary data sources.
Determinants of firms’ profitability in pakistanAlexander Decker
This document summarizes a research study that analyzed the determinants of profitability of Pakistani firms. The study examined the relationship between capital structure, financial leverage, firm size and corporate profitability. Data was collected from 50 Pakistani companies over 7 years. Regression analysis found a positive correlation between financial leverage and profitability, and between firm size and profitability. It found a negative correlation between capital structure and profitability. The study concluded additional variables could improve the model for determining corporate profitability.
Wage System Manufacturing Company: Normative and ExpectationsHendra Gunawan
The study determine the wages models applied by the company in Batam which is expected to provide a wide range of reference models in different strata of wage and cluster companies. It is also expected to help the local government as a factor in determining the minimum wage policy making through recommendations wages models are ideal in Batam. Data was collected using interview techniques to the manufacturing industry in three related units in a company that is human resource, administrative staff and production staff. The results of the study were analyzed qualitatively to explore models that have been applied and the desire of employees. The model has been applied to remuneration in accordance with the general models that already exist, but there are still some wishes of the employees on the compensation of employees in the company they both administrative and production employees. Researchers also analyzed employee satisfaction with the existing system and the results are most of the employees did not feel satisfed with the remuneration system.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
This document summarizes a study that investigated the importance of capacity building and infrastructure development for the entrepreneurial practices of university graduates in Bayelsa State, Nigeria. The study found that 60% of male and 70% of female respondents agreed that capacity building and infrastructure development are important. There was no significant difference between male and female respondents in their views. The study concluded that capacity building and infrastructure development are both important to enhance entrepreneurial practices among university graduates in Bayelsa State.
An appraisal on small firms corporate cultureprjpublications
This document discusses the relationship between corporate culture, innovation, and reward systems in small firms. It argues that developing a corporate culture that supports innovation must be accompanied by an appropriate reward system. A study of small firms in Chennai found a statistically significant relationship between corporate cultures that support innovation and reward system features. Most innovative companies have reward systems that encourage and reinforce innovative behaviors that are part of the corporate culture. Statistically significant relationships were also found among innovation rewards, corporate culture, and different features of variable pay systems.
Roma, 1 e 2 dicembre: durante il Forum CSR, ampio spazio sarà dedicato alle novità sulla rendicontazione di sostenibilità e alla generazione di valore che può produrre una buona comunicazione. Saranno, inoltre, presentati i risultati della ricerca "Sustainability is good for business" che - partendo dalle tre direzioni di legalità, responsabilità generazionale e ingegnosità collettiva - vuole mostrare al mercato perché e come sia sconveniente per il business compiere scelte non sostenibili.
Consulta il programma dettagliato dei lavori (aggiornato al 23/11/2016 o scaricalo sempre aggiornato su http://bit.ly/1RPyWPz) per conoscere tutti i temi e i relatori già confermati e iscriviti!
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El documento describe las causas y características del régimen nazi en Alemania, incluyendo el descontento popular después de la Primera Guerra Mundial, el sentimiento de humillación por la derrota, y la creciente leyenda de que los judíos habían apuñalado a la nación alemana. Hitler adoptó la esvástica como emblema del Partido Nazi en 1920 y promovió la política de higiene racial basada en la idea de una raza aria pura y superior. El antisemitismo nazi culpó a los judíos de todos
The author had the opportunity to meet the Bee Gees brothers - Barry, Robin, and Maurice Gibb - during a private stamp unveiling ceremony in New York City in 1999. Barry took charge and helped direct the photo shoot while Robin cracked jokes. Maurice engaged in friendly conversation with the author about other musicians on stamps. The brothers enjoyed posing with the stamps and signing autographs. They gifted the attendees tickets to that evening's Broadway premiere of Saturday Night Fever. The author fondly remembers their kindness and talents, especially in light of Maurice and Robin's later deaths.
Este documento resume las características de los principales grupos de animales, incluyendo esponjas, celentéreos, equinodermos, gusanos, moluscos, artrópodos, peces, anfibios, reptiles, aves y mamíferos. Describe sus características clave como la forma del cuerpo, la simetría, los órganos y sistemas, el hábitat y otros detalles distintivos de cada grupo.
La depresión ha sido documentada desde la antigüedad pero no fue hasta el siglo XVIII que recibió su nombre actual. A lo largo de la historia, su tratamiento ha variado entre la magia y terapias ambientales hasta el desarrollo de la psiquiatría moderna y fármacos antidepresivos. La depresión afecta a más mujeres que hombres y puede manifestarse de diferentes formas dependiendo del sexo y etapas vitales como el embarazo o la menopausia. El tratamiento actual se centra en mejorar los síntomas a través de medic
Lyn Hancock is a renowned Australian-Canadian author known for her books about wildlife. She moved to Canada in 1961 and has since written 20 books, most chronicling her own adventures in Canada and around the world. Her latest book, The Ring, tells the true story of an Irish settler named Sam Livingston and his Métis wife Jane who were among the first settlers of Calgary in 1872. Though Hancock did not do the initial research, she helped shape the story which was updated from the original 1985 version. Hancock is a prolific writer and storyteller who is constantly pursuing new writing projects despite modestly claiming she cannot write.
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Steve Jobs tuvo tres historias clave en su vida: (1) Abandonó la universidad pero aprendió caligrafía, lo que inspiró el diseño de Macintosh. (2) Fundó Apple pero fue despedido, luego creó NeXT y regresó para liderar el éxito de Apple de nuevo. (3) Se le diagnosticó cáncer pero resultó ser curable, dándole la oportunidad de crear más inventos.
El documento proporciona una introducción al ordenador, describiendo brevemente su historia, hardware, software y aplicaciones. Explica que el ordenador es una máquina electrónica que procesa datos para producir información útil y enumera sus principales componentes internos y periféricos. Además, resume las generaciones de hardware y los tipos principales de software, incluidos los sistemas operativos y aplicaciones como la ofimática y el diseño gráfico.
El poema expresa la tristeza de haber perdido un amor de juventud. El hablante compara su tristeza con un trapito que el viento podría llevar hasta la persona amada. Desea que el viento se lleve su alma y su tristeza hasta donde está la persona amada para que sepa lo mucho que lo extraña desde que perdió su amor en la primavera de su vida.
Este documento contiene información sobre las ventajas de usar Prezi y Dropbox para crear y almacenar presentaciones de manera dinámica y segura. También proporciona consejos para mejorar la fotografía como tener paciencia, conocer la cámara y usar trípode y flash. Explica cinco elementos para crear presentaciones en Scratch e incluye los pasos para subir un video a YouTube como acceder a la cuenta, seleccionar el video y publicarlo.
El documento describe el uso de la simulación de robótica en la enseñanza para facilitar la comprensión de los estudiantes sobre el tema. Propone desarrollar ejercicios prácticos que conduzcan a un análisis teórico y descubrimiento continuo para lograr un aprendizaje significativo. La simulación ofrece ventajas como situaciones imposibles de recrear en el aula real y adaptación al ritmo individual del estudiante.
Financial literacy is important for small and medium enterprises to effectively manage their finances and make good financial decisions. Lack of financial literacy can negatively impact SME performance by preventing them from properly assessing financing options and managing debts. Specifically, lack of knowledge in bookkeeping, debt management, and financial planning can magnify financial barriers for SMEs and limit their ability to grow and achieve their goals. Empirical studies show that SMEs with higher financial literacy, including skills in bookkeeping, debt management and understanding financial concepts, tend to have better financial performance through improved profitability, sales growth and ability to access appropriate financing.
This document summarizes a study on internal controls of local governments. It discusses that internal controls are important for local governments to achieve objectives like accurate financial reporting and compliance with regulations. The study defines internal controls as processes put in place by management to reasonably ensure objectives are met in areas like operations, financial reporting reliability, and compliance. It also discusses management's responsibility for internal controls and financial statements like the balance sheet, income statement, and cash flow statement. The study concludes that while the local government under review has an effective internal control system, there are challenges in fully implementing controls across all locations.
Post privatization Corporate Governance and the challenges of working capital...inventionjournals
The document discusses corporate governance and working capital challenges in Nigeria after privatization. It examines the impact of corporate governance proxies like ownership structure, board characteristics, and privatization on the liquidity ratio of Ashaka Cement Company. Trend analysis found the liquidity ratio was generally higher before privatization but declined significantly at times due to economic issues. Regression analysis suggests some corporate governance factors like minority ownership and privatization had a positive impact on liquidity ratio, while others like non-executive directors and market value had a negative impact. The study concludes corporate governance significantly impacts liquidity ratio but macroeconomic environment also influences company efficiency.
Audit Committee Characteristics and Financial Performance of Deposit Money Ba...AkashSharma618775
The purpose of this study was to assess the predictive power of audit committee features on the financial
performance of listed Deposit Money Banks (DMBs) in Nigeria between 2009 and 2018. Thirteen (13) banks were
used over 10 years making a total of 130 firm year observation. The independent variable was audit committee
size, while the dependent variable was DMB financial performance measured by return on capital employed
(ROCE). The study used an ex-post factor research approach to address the research questions and the nature of
the study data. The study used the panel fixed effect approach (and the estimates were obtained using E-views 9).
The results show that audit committee size does not significantly predict ROCE nor does audit committee financial
skill and frequency of audit committee meetings. None of the independent variables have significant predictive
power on the performance of Deposit Money Banks in Nigeria. Thus, instead of DMBs focusing on expanding the
members of Audit committee, they should instead consider other things that can be done to have an effective audit
committee, such as gender, religion, region, ownership, etc that could possibly influence the performance of banks
in Nigeria.
Effect of working capital on profitability in indian markets and concept of z...mvkdel
This document provides an analysis of the relationship between working capital management and profitability for Indian companies from 2005-2010. It discusses key concepts around working capital, including how it refers to current assets and liabilities required for short-term financing. Prior research has shown that both excessive and low levels of working capital can negatively impact profitability. The document reviews literature on working capital management and profitability relationships. It aims to contribute to understanding how working capital management impacts profitability to help managers make decisions that create shareholder value, especially in emerging markets like India.
Corporate Governance and the Performance of Privatized Companies in Nigeria: ...inventionjournals
The paper examines the effect of Corporate Governance on profitability of Ashaka Cement Company in Nigeria. The variables studied were profitability as proxy of performance (dependent variable) and Corporate Governance proxies as (independent variables). Data was collected from secondary sources. Statistical tools employed were; Performance Trend Analysis and OLS regression. The Trend Analysis result suggests that, profitability was higher pre privatization, no remarkable improvement in profitability post privatization, government is the major consumer of cement product and unfavorable macroeconomic environment affects the general performance of the company. Inferential Statistics Result suggests that, minority ownership and percentage of non executive direct have positive and significant impact on profitability. However, total market value of shares, board size and privatization has negative and significant impact on profitability. The study concludes that, there are other factors affecting firm performance more than corporate governance and that post privatisation corporate governance has negative and significant impact on the profitability. The study recommends that, Nigerian government should ensure favorable macroeconomic environment, improve private sector activities, and allow the Company to create subsidiary in construction industry to increase demand for cement products. Foreign Investors should secure global cement market opportunities to justify investment and enhance companies’ earnings. The findings may be useful to corporate stakeholders and government policy makers.
This document provides background information on accounting information and its use in management decision making. It defines accounting information as the language of business that processes financial transactions and provides financial performance data to internal and external users. It discusses how accounting information is necessary for proper decision making, profit maximization, and optimal resource utilization. The document also notes some problems with the quality and validity of accounting information provided to management and how this can negatively impact decision making and organizational performance if the information is untimely, inadequate, or unclear.
The purpose of this study was to examine the effect of intellectual capital which proxied by VAICTM by Pulic (1999) and the average growth of intellectual capital (VAIC™) to firm performance. The data used in this study is the first 140 companies listed on the Stock Exchange which is divided into two sectors, manufacturing and non-manufacturing industry which following to research hypothesis. The results showed that the intellectual capital has significant effect to firm performance when firm performance is proxied by the ROA, not by ROE. And the average growth of intellectual capital has a significant effect to firm performance if the company's performance is proxied by ROE and ROA.
Financial is the result of an organized process that is commonly referred to as money management or financial planning and control. Financial planning is the process of managing money to achieve economic satisfaction. This planning process allows for controlling financial situation. Every organisation has a unique financial position, and any financial activity therefore must also be carefully planned to meet specific needs and goals. A comprehensive financial plan can enhance the quality of organisation life and increase future needs and resources. The specific advantages of personal financial planning include Increased effectiveness in obtaining, using, and protecting your financial resources throughout your lifetime The objective of the present study was to study the financial planning and to analyze the financial control. The tools applied for this study are Additional Fund Needed, Breakeven Analysis, Index analysis etc, findings reveals that the additional fund needed was increased during the study period. The company has to reduce the additional fund needed, dividend payout ratio, plant capacity and in order to increase the retained earnings and profit margin. For most companies, planning and controlling is a necessary but painful process. Unfortunately, it is often a prolonged exercise that takes so long that the starting assumptions are virtually meaningless by the time the process is complete. Add to that the rapidly increasing need for reporting and controls, both from investors and to meet regulatory requirements. As per the above observations and analysis the company will have to improve its financial planning and control for the upcoming years.
Abstract: Financial is the result of an organized process that is commonly referred to as money management
or financial planning and control. Financial planning is the process of managing money to achieve economic
satisfaction. This planning process allows for controlling financial situation. Every organisation has a unique
financial position, and any financial activity therefore must also be carefully planned to meet specific needs and
goals. A comprehensive financial plan can enhance the quality of organisational life and increase future needs
and resources. The specific advantages of personal financial planning include Increased effectiveness in
obtaining, using, and protecting your financial resources throughout your lifetime The objective of the present
study was to study the financial planning and to analyze the financial control. The tools applied for this study
are Additional Fund Needed, Breakeven Analysis, Index analysis etc, findings reveals that the additional fund
needed was increased during the study period. The company has to reduce the additional fund needed, dividend
payout ratio, plant capacity and in order to increase the retained earnings and profit margin. For most
companies, planning and controlling is a necessary but painful process. Unfortunately, it is often a prolonged
exercise that takes so long that the starting assumptions are virtually meaningless by the time the process is
complete. Add to that the rapidly increasing need for reporting and controls, both from investors and to meet
regulatory requirements. As per the above observations and analysis the company will have to improve its
financial planning and control for the upcoming years.
Effect of Corporate Governance on Profitability of Quoted Manufacturing Compa...YogeshIJTSRD
The study determined the extent corporate governance affect profitability of quoted manufacturing companies in Nigeria using board size, board independence, directors’ shares and profit margin of quoted manufacturing companies in Nigeria. Only secondary data was used for the successful execution of this research work. Three hypotheses were formulated for this study while data extracted through the financial statement was tested with the Regression statistical tool using the E view 9. The outcome of the analyses carried out showed that board size has negative but significant effect on net profit margin of manufacturing companies quoted on the Nigeria Stock Exchange. It is therefore recommended that board size should be relative to the firm’s business need, scope and complexity. Since no two firms are exactly alike in all ramifications, it is important that an appropriate size be understood to be a function of each firm’s circumstances. Setting arbitrary board size benchmarks will therefore be counterproductive. Okoye, Pius V. C. | Ugwu, Scholastica C. "Effect of Corporate Governance on Profitability of Quoted Manufacturing Companies in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd44953.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/44953/effect-of-corporate-governance-on-profitability-of-quoted-manufacturing-companies-in-nigeria/okoye-pius-v-c
This paper investigates the relationship between working capital management and financial performance of Pharmaceuticals and Textile firms listed at the Dhaka Securities Exchange in Bangladesh. The data analysis was carried on ten Pharmaceuticals and Textile firms for a period of 2013 to 2017. Secondary Data was analyzed by applying Descriptive Statistics, Regression and Correlation analysis to findthe relationship of current ratio, inventory conversion period and average payment period with Return on Asset. The findings indicate that the Pharmaceuticals and Textile firms’ performance is influenced by the variables relating to working capital. There is a positive relationship between profitability and current ratioand Inventory Turnover period shows a negative relationship with profitability but Average payment period shows insignificant impact on profitability. The study concludes that there exists a relationship between working capital managementand financial performance of Pharmaceuticals and Textile firms in Bangladesh. The study recommends that for the Pharmaceuticals and Textile firms to remain profitable, they should employ working capital management practice that will help in making decisions about investment mix and policy, matching investment to objective, asset allocation for institution and balancing risk against profitability.
Towards integrated learning and development for improving bottom line--a prac...learnonline4
This document discusses integrated learning and development practices adopted by companies in India to achieve business excellence. It analyzes 11 companies that received the BM Munjal Award for business excellence through learning and development between 2009-2013. The key findings are:
1) Companies focused on a combination of leading and lagging business excellence indicators, including financial performance, customer satisfaction, and environmental/social commitments.
2) Winning companies implemented systematic, integrated learning models involving training needs assessments, multi-level training programs, and measuring the impact of training on business goals.
3) Advanced practices included linking learning to talent management, career planning, and leadership development to prepare employees to achieve improved business results.
Impact of Corporate Governance on Firms’ Financial Performance: Textile Secto...inventionjournals
Purpose: The basic standard of this article is to find out the outcome of corporate governance on firm’s profitability in textile sector of listed companies in Pakistan. Methodology: The data are collected from respective textile sector annual reports from 2005 to 2014.The results of different variables arise by using different techniques like descriptive, correlation and regression in using software of E-views in this study. Findings: These results of study explain that corporate governance and firm’s financial performance shows positive relationship between each other. This indicates that in textile sectors adopting corporate governance and plays a significant role in textile sectors. Research limitations: This study restricts by fewer digit of determinantslinked corporategovernance and data gathered from 2005 to 2014 were addressed, which restrictions the overview of the result. Further research can be conduct by using more variables and more years for finding more in future. Originality: This study shows that the firm’s performance has increased by using corporate governance in textile sector firms.
Impact of Corporate Governance on Firms’ Financial Performance: Textile Secto...inventionjournals
Purpose: The basic standard of this article is to find out the outcome of corporate governance on firm’s profitability in textile sector of listed companies in Pakistan. Methodology: The data are collected from respective textile sector annual reports from 2005 to 2014.The results of different variables arise by using different techniques like descriptive, correlation and regression in using software of E-views in this study. Findings: These results of study explain that corporate governance and firm’s financial performance shows positive relationship between each other. This indicates that in textile sectors adopting corporate governance and plays a significant role in textile sectors. Research limitations: This study restricts by fewer digit of determinantslinked corporategovernance and data gathered from 2005 to 2014 were addressed, which restrictions the overview of the result. Further research can be conduct by using more variables and more years for finding more in future. Originality: This study shows that the firm’s performance has increased by using corporate governance in textile sector firms.
Corporate Governance on Earnings Management in Listed Deposit Money Bank in N...ijtsrd
The increase in the manipulation of accounting records and collapse of some Nigerian Deposit Money Banks have left question in the mind of researchers on the role of corporate governance. This paper was carried out to examine the impact of corporate governance attributes on earnings management of listed Deposit Money Banks from 2009 to 2017. The study used a sample size of thirteen 13 banks. The dependent variable was measured using Discretionary Loan Loss Provision Model by Chang, Shen and Fang 2008 . Correlational design was employed the secondary data was obtained from the annual reports of the firms and Nigerian Stock Exchange website. The results from the multiple regression analysis proved that board size has positive and significant impact on earnings management board independence has negative and significant impact on earnings management while board of directors' ownership has insignificant impact on earnings management. The study concludes that effective monitoring role of independence directors will constrain the opportunistic behavior by managers. The paper therefore recommends among others that banks should increase the numbers of independent directors on the board to improve their monitoring effectiveness. Olaleye John Olatunde | Amafa Etupu Oluwafunmilayo "Corporate Governance on Earnings Management in Listed Deposit Money Bank in Nigeria" 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/ijtsrd29515.pdfPaper URL: https://www.ijtsrd.com/management/other/29515/corporate-governance-on-earnings-management-in-listed-deposit-money-bank-in-nigeria/olaleye-john-olatunde
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This document discusses inhibiting factors in strategic financial management decision making among South African small and medium-sized enterprises (SMMEs). It finds that SMME owner-managers often lack a proper theoretical framework for gathering and analyzing information needed for effective decisions. Their decisions are less complex than suggested by models due to reluctance to follow accepted steps in information search and analysis. This is attributable to significant lack of knowledge and experience among decision makers. The study aims to investigate principal obstacles preventing owner-managers from making sound strategic financial decisions related to their reluctance to apply theoretical norms. It provides recommendations to help SMMEs improve strategic decision making and resource allocation.
Digital Twins Computer Networking Paper Presentation.pptxaryanpankaj78
A Digital Twin in computer networking is a virtual representation of a physical network, used to simulate, analyze, and optimize network performance and reliability. It leverages real-time data to enhance network management, predict issues, and improve decision-making processes.
Supermarket Management System Project Report.pdfKamal Acharya
Supermarket management is a stand-alone J2EE using Eclipse Juno program.
This project contains all the necessary required information about maintaining
the supermarket billing system.
The core idea of this project to minimize the paper work and centralize the
data. Here all the communication is taken in secure manner. That is, in this
application the information will be stored in client itself. For further security the
data base is stored in the back-end oracle and so no intruders can access it.
Tools & Techniques for Commissioning and Maintaining PV Systems W-Animations ...Transcat
Join us for this solutions-based webinar on the tools and techniques for commissioning and maintaining PV Systems. In this session, we'll review the process of building and maintaining a solar array, starting with installation and commissioning, then reviewing operations and maintenance of the system. This course will review insulation resistance testing, I-V curve testing, earth-bond continuity, ground resistance testing, performance tests, visual inspections, ground and arc fault testing procedures, and power quality analysis.
Fluke Solar Application Specialist Will White is presenting on this engaging topic:
Will has worked in the renewable energy industry since 2005, first as an installer for a small east coast solar integrator before adding sales, design, and project management to his skillset. In 2022, Will joined Fluke as a solar application specialist, where he supports their renewable energy testing equipment like IV-curve tracers, electrical meters, and thermal imaging cameras. Experienced in wind power, solar thermal, energy storage, and all scales of PV, Will has primarily focused on residential and small commercial systems. He is passionate about implementing high-quality, code-compliant installation techniques.
Discover the latest insights on Data Driven Maintenance with our comprehensive webinar presentation. Learn about traditional maintenance challenges, the right approach to utilizing data, and the benefits of adopting a Data Driven Maintenance strategy. Explore real-world examples, industry best practices, and innovative solutions like FMECA and the D3M model. This presentation, led by expert Jules Oudmans, is essential for asset owners looking to optimize their maintenance processes and leverage digital technologies for improved efficiency and performance. Download now to stay ahead in the evolving maintenance landscape.
Applications of artificial Intelligence in Mechanical Engineering.pdfAtif Razi
Historically, mechanical engineering has relied heavily on human expertise and empirical methods to solve complex problems. With the introduction of computer-aided design (CAD) and finite element analysis (FEA), the field took its first steps towards digitization. These tools allowed engineers to simulate and analyze mechanical systems with greater accuracy and efficiency. However, the sheer volume of data generated by modern engineering systems and the increasing complexity of these systems have necessitated more advanced analytical tools, paving the way for AI.
AI offers the capability to process vast amounts of data, identify patterns, and make predictions with a level of speed and accuracy unattainable by traditional methods. This has profound implications for mechanical engineering, enabling more efficient design processes, predictive maintenance strategies, and optimized manufacturing operations. AI-driven tools can learn from historical data, adapt to new information, and continuously improve their performance, making them invaluable in tackling the multifaceted challenges of modern mechanical engineering.
Use PyCharm for remote debugging of WSL on a Windo cf5c162d672e4e58b4dde5d797...shadow0702a
This document serves as a comprehensive step-by-step guide on how to effectively use PyCharm for remote debugging of the Windows Subsystem for Linux (WSL) on a local Windows machine. It meticulously outlines several critical steps in the process, starting with the crucial task of enabling permissions, followed by the installation and configuration of WSL.
The guide then proceeds to explain how to set up the SSH service within the WSL environment, an integral part of the process. Alongside this, it also provides detailed instructions on how to modify the inbound rules of the Windows firewall to facilitate the process, ensuring that there are no connectivity issues that could potentially hinder the debugging process.
The document further emphasizes on the importance of checking the connection between the Windows and WSL environments, providing instructions on how to ensure that the connection is optimal and ready for remote debugging.
It also offers an in-depth guide on how to configure the WSL interpreter and files within the PyCharm environment. This is essential for ensuring that the debugging process is set up correctly and that the program can be run effectively within the WSL terminal.
Additionally, the document provides guidance on how to set up breakpoints for debugging, a fundamental aspect of the debugging process which allows the developer to stop the execution of their code at certain points and inspect their program at those stages.
Finally, the document concludes by providing a link to a reference blog. This blog offers additional information and guidance on configuring the remote Python interpreter in PyCharm, providing the reader with a well-rounded understanding of the process.
Prediction of Electrical Energy Efficiency Using Information on Consumer's Ac...PriyankaKilaniya
Energy efficiency has been important since the latter part of the last century. The main object of this survey is to determine the energy efficiency knowledge among consumers. Two separate districts in Bangladesh are selected to conduct the survey on households and showrooms about the energy and seller also. The survey uses the data to find some regression equations from which it is easy to predict energy efficiency knowledge. The data is analyzed and calculated based on five important criteria. The initial target was to find some factors that help predict a person's energy efficiency knowledge. From the survey, it is found that the energy efficiency awareness among the people of our country is very low. Relationships between household energy use behaviors are estimated using a unique dataset of about 40 households and 20 showrooms in Bangladesh's Chapainawabganj and Bagerhat districts. Knowledge of energy consumption and energy efficiency technology options is found to be associated with household use of energy conservation practices. Household characteristics also influence household energy use behavior. Younger household cohorts are more likely to adopt energy-efficient technologies and energy conservation practices and place primary importance on energy saving for environmental reasons. Education also influences attitudes toward energy conservation in Bangladesh. Low-education households indicate they primarily save electricity for the environment while high-education households indicate they are motivated by environmental concerns.
Software Engineering and Project Management - Introduction, Modeling Concepts...Prakhyath Rai
Introduction, Modeling Concepts and Class Modeling: What is Object orientation? What is OO development? OO Themes; Evidence for usefulness of OO development; OO modeling history. Modeling
as Design technique: Modeling, abstraction, The Three models. Class Modeling: Object and Class Concept, Link and associations concepts, Generalization and Inheritance, A sample class model, Navigation of class models, and UML diagrams
Building the Analysis Models: Requirement Analysis, Analysis Model Approaches, Data modeling Concepts, Object Oriented Analysis, Scenario-Based Modeling, Flow-Oriented Modeling, class Based Modeling, Creating a Behavioral Model.
Blood finder application project report (1).pdfKamal Acharya
Blood Finder is an emergency time app where a user can search for the blood banks as
well as the registered blood donors around Mumbai. This application also provide an
opportunity for the user of this application to become a registered donor for this user have
to enroll for the donor request from the application itself. If the admin wish to make user
a registered donor, with some of the formalities with the organization it can be done.
Specialization of this application is that the user will not have to register on sign-in for
searching the blood banks and blood donors it can be just done by installing the
application to the mobile.
The purpose of making this application is to save the user’s time for searching blood of
needed blood group during the time of the emergency.
This is an android application developed in Java and XML with the connectivity of
SQLite database. This application will provide most of basic functionality required for an
emergency time application. All the details of Blood banks and Blood donors are stored
in the database i.e. SQLite.
This application allowed the user to get all the information regarding blood banks and
blood donors such as Name, Number, Address, Blood Group, rather than searching it on
the different websites and wasting the precious time. This application is effective and
user friendly.
Confirmatory Analysis of Primary Business Function Learning For Small Industry
1. International Journal of Business and Management Invention
ISSN (Online): 2319 – 8028, ISSN (Print): 2319 – 801X
www.ijbmi.org || Volume 5 Issue 10 || October. 2016 || PP—70-78
www.ijbmi.org 70 | Page
Confirmatory Analysis of Primary Business Function Learning
For Small Industry
Tuhardjo
Department of Accounting, Faculty of Economics, UniversitasNegeri Malang
ABSTRACT: This study has the purpose to examine the unidimension construct or latent variable from
Primary Business Functions Learning of Small Industries Onix and Marble in Tulungagung Region.
Confirmatory Factor Analysis (CFA) is used to examine the unidimensionality of construct learning of the
Primary Business Function.Important findings generated through hypothesis testing model measurement is that
construct learning of the Primary Business function can be measured validly and reliably by the dimensions of
Finance, Production, and MarketingLearning Experiences. These findings prove that the dimensions of Finance
Learning, Production,and Marketing were credible or systemic to constructlatent variables for the Primary
Business Functions. It is indicated by the regression coefficients of all the dimensions of Primary Business
Functions Learning Experiences that have a value of more than 2 CR, p-value less than 0.05, and with a
coefficient of three dimensions of a high standard, which is 0.968 for the Learning Financial Functions
dimension, and 0.992 for the dimension of Learning Function Production, and Marketing.
Keywords: Confirmatory Analysis, Experience of Primary Business Functions Learning
I. INTRODUCTION
Tambunan and Supratikno (2004) has stated that Small and Medium Enterprises / SMEs in Indonesia
have a very important role in job creation, a source of economic growth, and the creation of foreign exchange
through exports. In addition, the company / small industry can provide training skills that is comprehensive (not
a specialty) compared with larger companies, training is generally done while working (on the job training or
learning by doing), small company / industry also teachessmall skillsthat are highly precious ranging from how
to handle clerical work through the use of computers (Zimmerer and Scarborough, 2002: 22).
Sandee et. al. (2002) suggested that a small industry is better able to deal with the crisis better than
large businesses because of its flexibility and low dependence on formal financial institutions. Griffin and Ebert
(2006) stated that the "reasons of small business aresuccessful because: (1) hard work, and dedication, (2)
market demand for product or services being provided, (3) managerial competence, and (4) luck.
Instead, Griffin and Elbert (2006) stated the causes of failure of small companies are: (1) incompetence
and inexperience for management, (2) weak control system, and (3) insufficient capital. The failure of this small
business by Zimmerer and Scarborough (2002: 25) stated it as "the nine deathly mistakes of entrepreneurship",
which include: "management incompetence, lack of experience, poor financial control, failure to develop a
strategic plan, uncontrolled growth, poor location, inventory control improper, incorrect pricing, and inability to
make-the entrepreneurial transition ".
To avoid the failure of a small business the owner or manager is expected to: "(1) know your business
in depth, (2) develop a solid business plan, (3) manage financial resources, (4) understand financial statements,
(5) learn to manage people effectively, and (6) keep in tune with yourself ". Zimmerer and Scarborough (2002:
31).
Buchanan and Huczynski (2004: 108), stated that:(1) learning is a part of work and work involves
learning; these are not separately but intertwined functions; the separation we have made of them is artificial and
often does not serve us well; (2) learning are not only or even primarily about obtaining correct information or
answers from knowledgeable others; it is fundamentally about making meaning out of the experience that we
and others have in the world. Jones (2004: 376) stated that: organization learning is the process through which
managers seek to improve organization members’ desire and ability to understand and manage the organization
and its environment so that they make a decision that continuously raise organizational effectiveness.
From various statements, above, it is deemed necessary to confirm or analysis unidimensionalityon
construct or latent variable of Primary Business Functions Learning Experience.
II. LITERATURE REVIEW
1. Organizational Learning Experience
According to Buchanan and Huczynski (2004: 108):
The learning organization is the configuration of structures and policies which encourage individual
learning, with individual and organizational benefits. The organization itself can also be regarded as an entity
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which is capable of learning. Knowledge has thus become an asset more important than materials and products
for many organizations.
A number of interesting factors that stimulate learning organization concept according to Buchanan and
Huczynski, (2004, 127) include:
(a). theproduction of goods and services increasingly involved sophisticated knowledge; (b) knowledge is
therefore as valuable a resource as raw material; (c) many organizations lost knowledgeable staff lost through
delayering in the 1990s; (d) informationtechnologies are knowledge-intensive; (e) knowledge can have a short
live span, made obsolete by innovation; (f) flexibility, creativity, and responsiveness a now prized capabilities;
and (g) knowledge can thus be a source of competitive advantage for an organization.
It can be concluded that the learning organization is an organizational form that allows individuals to
learn to create valuable outcomes through innovation, efficiency, environmental adjustment, and competitive
advantage. Schrag and Poland (2002), said that "to be successful in the business world, a manager must
demonstrate a broad range of capabilities." Hughes (2002) stated "formal education is one of the best ways to
develop multiple perspectives on leadership". Dilworth (2002) illustrates the importance of experience as one of
the elements forming competence in the job (job competence), that with increasing experience of working the
increasing productivity. Evers et. al. (1998: xii), stating "the bases of competence is itself the result of a
collaborative product between business experience and education".
2. Primary Business Functions
Dilworth (2002) suggested three Primary business functions are: finance, production (operation
function) and marketing. These three functions interdependent. Heizer and Render (1991: 9), "these functions
are the necessary ingredients not only for production but also for an organization's survival". Marketing, which
generates the demand or at least takes the order for a product or service? Nothing happens until there is a sale,
production / operations, which creates the product, and finance / accounting, which tracks how well the
organization is doing, pays the bills, and collects the money.
Peters (1998) stated the overall planning, along with control of financial management, production, and
marketing of the company will be able to create success in the long term. The third primary business functions
will be studied further as follows.
a. Finance Function
Horne (1999: 8) stated that:
The functions of finance involve three major decisions the firm must take: the investment decision, the financing
decision, and dividend decision. Each must be considered in relation to the objective of the firm; an optimal
combination of the three will maximize the value of the firm to its. We must consider the join impact on the market
price of the firm's stock.
Investment decision is the most important decision of the three decisions in the field of financing,
because investment decisions will directly affect the amount of return on investment and future cash flows.
Thus, investment decisions will determine the overall number of assets required, the composition of the assets,
and the level of business risk, and capital budgeting as a primary aspect of investment decision.
Financing decision with regard to the determination of the source of funds and dividend decisions.
Does the company use external funding sources in the form of debt / bond issues, or new shares are a primary
aspect of this type of financing decisions, in order to achieve optimal capital structure? Dividend decision is a
decision relating to the determination of the percentage of the net profit will be paid as cash dividend, stock
dividend and repurchase shares of the company and how many were retained as a source of internal funding.
In connection with the cash-flow management to increase the value of the company's financial manager
must ensure always available liquid funds (enough funds on hand) to buy raw materials and labor costs for
producing goods and services. The financial manager must also invest in long-term assets. Thus, the financial
manager must manage cash flow carefully; so as not to place idle cash that can reduce the level of return on
investment.
In the financial control to increase the value of the company's financial managers have to make
adjustments to the financial changes that occur. Griffin and Ebert (2006: 567), "financial control is the process
of checking actual performance against plans to ensure that financial desired results occur." Budget is often used
as a basis for financial control and as a basis for measuring performance. Griffin and Ebert (2006: 567), "the
budget provides the measuring stick against which performance is evaluated".
Budget is planning the details of the estimated receipts and expenditure of funds for future periods. In
addition to the operational budget, the company also set up a capital budgeting. Budget control is useful for
short-term performance, by comparing actual results with the in-budget. In addition, the budget is also a signal
discrepancies potential problem and spurs action to increase of long financial performance.
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The allocation of funds should be streamlined. This means that any funds invested in the assets should
be used as efficiently as possible to generate the required level of investment profits. Funds invested in each
asset element number should not be too small because they interfere with liquidity; and do not be too big
because it may cause idle fund. Efficient use of funds will directly determine the size of the rate of return on
assets.
Every business owner should base the financial statements to determine the financial position and
financial performance. To be able to know exactly what is happening in the business, most entrepreneurs do not
have to have a basic understanding of accounting and finance (Zimmerer and Scarborough, 2002).
The financial statements are indicators that can be trusted about the health of the company. Financial
reports are helpful in providing a warning about the problems facing the company. For example, the decline in
sales, not achieving the target profit, swelling of corporate debt, and the shrinking of the working capital;
everything is symptoms of potentially lethal problem that requires immediate attention.
b. Production Function
Production function is also known as operational function is a function of the organization related to
the management of resources to produce goods or services. Production management meant that the utilization of
available resources can produce goods and services that have added value. This occurs when an organization can
obtain and utilize the best mix of resources to become inputs (Pardede, 2005).
Production function is a vital business activity (Booner and Kurtz, 2000). Without production function,
none of the business functions will run. Therefore, the production manager should be able to produce value
added products for consumers. Because of these added value products consumers want to buy. Hansen and
Mowen (2005) stated value added products for consumers also will deliver value to the customer (customer
value) that is the difference between the benefits received by the customer what the customer sacrificed for a
product.
Dilworth (2002: 6) "the operations function is responsible for providing the product (goods or services)
offered to the customer by the organization". Furthermore, Dilworth, (2002: 6) "the operation function must
obtain the necessary inputs and perform the necessary work to provide the output".Furthermore, McClain (1992:
3), stated:In general, operations managers must manager to produce high-quality, low-cost goods and services.
The goods and services must meet customer needs and have quality and cost characteristics better than the
competitors'. To meet customer needs and provide services and goods at higher quality and lower cost than
competitors, operations managers must understand and help to shape the organization's overall strategy.
Operations managers must obtain and utilize resources to produce useful goods and services and thus meet the
goals of the organization.
Dilworth (2002), described the production system in the conceptual diagram, similar to Figure 1 below
Figure 1: Conceptual Diagram of a Production System (Dilworth, 2002: 6)
All managers of various departments contribute to operational decisions. Operational decisions are a series of
logical steps. The success of operational planning depends on the outcome of decisions this sequence logically.
Planning and operational control can be described as Figure 1 above.
Production capacity plan is intended to ensure that the resulting product is only slightly exceeded the
normal product demand (capacity slightly exceeds normal demand for its product). If the capacity is too little
demand, companies should refuse the consumer; this situation will certainly lead to reduced profits. If the
capacity exceeds demand, the company will be a waste of funds for property maintenance, excessive engine
operating costs, and the cost of hiring more employees.
The entire series production function activities include: (1) planning and resource products include: the
determination of the type of goods produced, and the determination of the type of input; (2) the design of
treatment facilities that include: layout work centers, planning and control capacity of processing facilities; (3)
planning processing activities include: arranging production plan (production budget), planning and control
workload and sequence of work, and the standard-setting work and results; (4) the implementation of the
(Transformation)
Customers
PRODUCTION SYSTEM
Outputs
(GoodorServices)
(Feedback)
Input
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processing activities and planning efficiencies include: material requirements planning, planning and inventory
control, planning and quality control, and management of technology (Pardede, 2005).
Pearce and Robinson (2000: 259) stated that product development involves the substantial modification
of existing products or the creation of new but related products that can be marketed to current customers
through established channels ". Product development strategy is often used to extend the product life cycle that
already exists or to take advantage of the reputation or favorite brands.
Planning on quality begins before the product is designed or redesigned. At the beginning of the
process managers must determine the purpose of both the performance quality and reliability quality. Griffin
and Ebert (2006) states, quality performance related to quality reliability is the consistency of product quality
unit for the sake of the unit. Product consistency can be achieved through quality control of raw materials,
equipment maintenance, and precision encourage workers.
Choo (2008) has written a recipe to guide the company into an innovative company, which is called a
knowledge organization. According to Choo business organizations are able to survive in the information age is
an organization that is able to adapt to changes in their environment. Thus, the ability of these adaptations can
be a competitive advantage for the company. Competitive advantage can be realized if the organization can use
information strategically.
c. Marketing Function
Kotler and Keller (2006: 3), states "marketing is everywhere. Formally or informally, people and
organization engage in a vast number of activities that could be called marketing. Good marketing has become
an increasingly vital ingredient for business success". Further Kotler and Keller (2006: 4), states: Good
marketing is no accident, but a result of careful planning and execution. Marketing practices are continually
being refined and reformed in virtually all industries to Increase the chances of success. But marketing is
excellence is rare and difficult to achieve. Marketing is both an 'art' and a 'science' there is constant tension
between the formulated side of marketing and the creative side.
In the buyer employers need to do market segmentation. Market segmentation is a grouping of
potential buyers based on similar needs or desires. By grouping in a certain segment of potential buyers will
save on marketing costs because employers can use the same marketing tools for all members of the segment,
and employers may decide the potential target group. The final goal is market segmentation to maximize return
on investment.
Hollin and Pugh (1990) noted the importance of market share as follows. "Increases in market share are
closely associated with increases in profitability, improved chances of survival and minimizing the risk of loss".
A large market share allows for companies to gain greater benefit on economies of scale in production using
machine tools are better, rationalization, and the purchase of materials and components of larger production.
Learning curve shows that with a large market share, more production equipment can be used more familiar and
more efficient, thus reducing the unit cost of production.
To become a market-oriented entrepreneur, it takes information concerning the acquisition of
customers, competitors, and markets is viewed from the perspective of the overall business to determine how to
provide superior value for customers, and take the actions necessary to deliver value to customers. In the long-
term market-oriented company can obtain high levels of profit and strong increase customer loyalty (Zeithami
and Bitner., 2000) through superior quality. Creaven (1997) described the components market orientation in
Figure 2 below.
Figure 2: Components of Market Orientation Cravens (1997: 7)
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Viewed from a marketing angle, the task of the entrepreneur is to determine the activities of marketing
and integrating marketing programs are complete (fully integrated marketing programs) for creating,
communicating, and delivering value to the customer. The marketing program consists of a number of decisions
to increase market value through increased marketing activities were worthwhile. The activities of an integrated
marketing are called marketing mix and is described by Kotler and Keller (2006), as Figure 3 below.
Figure 3: The Four P Components of the Marketing (Kotler and Keller: 2006)
Marketing mix can be defined as a means of marketing companies (the set of marketing tools) used to
achieve marketing objectives. As shown in Figure 4 of the marketing mix is grouped into four large groups
called "the four Ps of marketing," which includes: product, price, place, and promotion.
The products produced by the company, should be able to meet the needs of consumers that is both functional
and psychological-emotional. That is both functional needs are real needs that arise from a person on the basic
functions of a product. By understanding the real needs of consumers of products produced, then the possibility
of marketing myopia can be avoided. Marketing myopia is an effect of vagueness or ambiguity manager of the
real needs of consumers who want to be met.
III. RESEARCH METHOD
Ferdinand, (2002) stated Confirmatory Factor Analysis (CFA) can be used to test unidimension a
construct. In this study constructs or latent variables to be confirmed is the construct of the learning of
primarybusiness functions. The criteria used to measure the reliability this construct is Cronbach alpha
reliability coefficient, the coefficient of reliability of composite and the proportion of variance extracted.
Malhotra (1999) stated that a construct would be considered reliable if it has a value of Cronbach alpha
reliability coefficient of at least 0.66. Size composite reliability with the reliability expected more than 0.70
(Ferdinand, 2002). In addition, the proportion of the diversity of each indicator in a construct is expected to
reach at least 0.50 (Hair et al, 1998).
Examination of validity will be based on the value of weights (loading) factors obtained. Sharma
(1996) recommends that the weighting factor above 0.40 indicate a fairly strong validation of an indicator to
measure a construct. Unidimensionality can also be measured by the convergent validity of the delta Bentler-
Bonnet. Delta coefficient is a ratio of the difference between the value of chi-square and null measurement
model and the chi-square value of the model analyzed delta value with a value of more than 0.90 indicate a high
convergent validity (Ferdinand, 2002).
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IV. FINDINGS
Theconstruct ofPrimaryBusiness Function Learning Experience consists of three dimensions and
11indicators.Figure 4 below shows the results of confirmatory factor analysis (CFA) for unidimentiality
analysis.
Figure 4 Unidimensional Model for Construct Learning Experience of Primary Business Functions
The results of the model on criteria of goodness-of-fit indices testing to construct the Primary Business
Functions Learning Experiencesare presented in Table 1 below.
Table 1 Evaluation Unidimensionalfor Construct the Learning Experience of Primary Business Functions
Criteria Result Critical Value Evaluation Model
Chi-square (2
) 47,227 254.52 Good
Probabilitas 0,081 0,05 Good
CMIN/DF 1,349 2,00 Good
GFI 0,945 0,90 Good
AGFI 0,896 0,90 Marginal
CFI 0,997 0,95 Good
TLI 0,995 0,95 Good
RMSEA 0,050 0,08 Good
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The whole calculation results of the analysis unidimensionalfor theLearning Experience of Primary
Business Function have qualified confirmatory factor analysis. GFI value as a measure of the feasibility of the
model reached a value of 0.945 (greater than 0.90) and chi-square value of 47.227 yield probability value of
0.081 (greater than 0.05). Therefore, it can be concluded that there has been strong evidence that construct the
Learning Experience for PrimaryBusiness Function has unidimensionalaccepted.
Table 2 UnidimensionalResults for The Construct theLearning Experience of Primary Business Functions
Indicator Dimension C.R. P Lambda Composite
Reliability
Variance
Extracted
Alpha
Cronbach
Financing Finance Fix 1.000 0.994 0.941 0.986
Budgeting Finance 25.345 0.000 0.969
Financial Access Finance 22.058 0.000 0.956
Financial report Finance 95.585 0.000 0.992
Production Plan Production 29.855 0.000 0.967
Production
Operation
Production Fix 0.959
Inovation Production 33.395 0.000 0.982
Marketing Marketing Fix 0.990
Market
information
Marketing 32.114 0.000 0.981
Distribution
&Promotion
Marketing 33.217 0.000 0.951
After Sales
Service
Marketing 26.653 0.000 0.922
Chi-square independent model = 3551.663; Chi-square model default = 47 227
Reliability delta Bentler Bonnet [] d = (3551.663 - 47,227) / 3551,663 = 0,987
Test results of the statistical C.R on each indicator to construct of PrimaryBusiness Function Learning
Experience showed significant gains. These results demonstrated the value C.R more than 2 or p-value <0.05.
Based on the loading value (lambda), entirely worth over 0.40, so it can be stated that every indicator
providesevidence that high levels of the construct validity (Sharma, 1996).
V. DISCUSSION
Part of this discussion is intended to give meaning and explanation of the findings of hypothesis testing
measurement model which states that the latent variables / constructs of Primary Business Functions Learning
Experiencecan be measured validly and reliably through the dimensions of Finance, Production, and Marketing
Learning Experiences. The test results are intended to explain whether the third dimension into the determinant,
a significant (systematic) to measure the latent variable Learning Experience of PrimaryBusiness Function.
From the results of hypothesis testing turned out to be three dimensions significantly measure the construct /
latent variable Learning Experience of Primary Business Functions. Thus, the hypothesis of this study accepted.
The hypothesis acceptance is indicated by the regression coefficient of the whole dimension to the value of CR
greater than 2, p-value less than 0.05, and raw coefficients of these three dimensions each worth 0968 for
financial dimension, 0.982 for production and marketing dimensions.
From the figures, above raw coefficients can be seen that the dimensions be determinant to construct
the Learning Experience of PrimaryBusiness Function is Learning Production, and Marketing with loading
factor, or the same lambda value, such as 0.982 Financial Learning followed by the loading factor 0.968.
Figures greatest loading for a dimension of a construct indicates that the dimension concerned is determinant to
construct a variable. Aaccordingly, it can be said that the Learning Experience of PrimaryBusiness Function for
entrepreneurs of onyx and marble industry in Tulungagung is determined by Production, and Marketing
Learning, rather than the Finance. This means that good or not the learning experience ofPrimaryBusiness
Function more characterized by good or not the learning experience of production and marketing.
Loading factor for the Learning of Productiondimension and Marketing are relatively larger than the
Finance;it will be clarified through the justification theories as follows.
In running the business, respondents emphasize the importance of production and marketing practices
rather than starting a business with a financial plan (budget) needed as a guideline for carrying out activities of
production and marketing. This is in accordance opinions by Zimmerer and Scarborough (2002) that employers
are less likely to start a business with little regard or understanding of financial control, financial resources
management, and understand financial statements.
As shown by several references that drawback for small industry seen from the financial dimension is a
weakness for access to financial institutions or providers of funds. Griffin and Elbert (2002) suggested that small
businesses often operate with insufficient capital, and weak financial control system. The majority of
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respondents have no experience of difficulties to access to financial institutions, but to obtain a loan with a
lower cost of capital is still a lot of difficulties. The weaknesses of this kind experienced by most respondents.
In theory, conservative spending to industrial companies stated that the behavior of assets must
determine than capital behavior, not vice versa. This means that before the company determines how much
money is needed, it must first be identified for what the funds are used. So, the allocation of funds determines
obtain of funds or resources of fund. Relying on rules like this, the company will be spared from their funds idle
(idle cash), or vice versa, to avoid a shortage of funds (insufficient fund) for production activities and marketing.
Mindset about spending this industry has not been understood by respondents.
Some of the respondents do not prepare financial statements are required; not realize the importance of
financial statements and notes to the financial statements as a means of controlling vital. Zimmerer and
Scarborough, (2002), said that financial reporting is a reliable indicator of the financial health of the company.
The financial statements can give a warning about the problems facing the company. For example, the decline in
sales, not achieving the target profit, high debt, and a decline in working capital; everything is symptoms of
potentially lethal problem that requires immediate attention. Various issues related to the importance of financial
statements apparently have not yet received full attention from respondents.
Most respondents understand the characteristics of onyx and marble industry as handicraft industry and
furniture industry are long-lasting nature of the product, where business success is determined more by how the
resulting product features to attract consumers; could be a unique shape, product features, and quality. The
characteristics of such products and the need to meet the need for technology and innovation of both products
and processes have been understood by some of the respondents, namely to produce a product that is durable
and features (product feature) Primary on the product design first on a flexible product design (Swink, 1999),
Such competence is owned most of the respondents.
Most of the respondents acted upon production processes and efficient marketing. Efficient production
activity is the production activities carried out to produce output that is planned with no excess resources, which
is realized by efficient lay out process, fuel efficiency, and cost efficiency. Efficient marketing, done with
marketing products that provide customer satisfaction through offering products that have superior customer
value to yielding a profit for the company.
Most respondents understand and implement holistic marketing concept; recognizes that every problem
requires a perspective of integrated marketing as an approach that recognizes and reconcile the scope and
complexity of marketing activity. Kotler and Keller (2006) suggested four components of holistic marketing are:
relationship marketing, integrated marketing, internal marketing, marketing and social responsibility.
Most respondents have understood the importance of both process and product innovation in the
industry to be able to meet customers' needs are always changing both functional and emotional psychological
for his product. A functional requirement is a real need arising from the customer on the basic functions of a
product. By understanding the real needs of consumers of products produced, the possibility of marketing
myopia can be avoided by respondents.
The majority of respondents recognized that consumer purchasing patterns are not simple and appear
for their real needs that must be met for a product. Consumers with style and a variety of different personalities,
cultural and social influence, raise the emotional psychological needs of a product that is very personal. Most
respondents successfully meet these two kinds of needs and already have competitiveness as well as a fairly
strong competitive advantage.
Most respondents realize the importance of grouping potential buyers based on their needs. By
grouping of potential buyers in a particular market segment, it can be obtained by marketing efficiency, which in
turn can increase the profit from the investment. Likewise, most respondents realized the importance of market
share 'to the creation of profit margins, as set Hollin and Pugh (1990), "increases in market share are closely
associated with increases in profitability, improved chances of survival and minimizing the risk of loss".
Most respondents realize that a large market share allows for its efforts to obtain greater benefit on
economies of scale in production; which can be achieved through the use of equipment / machinery better,
rationalization, and the purchase of materials and components of larger production. Onyx and marble industry
entrepreneurs, who responded, also do a lot of sales through outlets near the industry, in the region of
Tulungagung, as well as in major cities in Indonesia.
Most respondents realize the importance of understanding and implementation market orientation in
order to be able to identify quickly and accurately to the needs and desires of consumers, the level of customer
satisfaction associated with changes in product innovation and the development of strategies that can enhance
the competitive advantage. Respondents also realized that in order to implement this needed the support of all
parties in the organization. Likewise, to become market-oriented needed information concerning customers,
competitors, and markets in the light of the overall business perspective to provide superior value for the
customer.
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VI. CONCLUSIONS AND RECOMMENDATIONS
This research has resulted in an important finding generated through hypothesis testing model
measurement in which the construct of the Primary Business Functions Learning Experiencecan be measured
validly and reliably by the financial dimensions, production, and Marketing. These findings prove that the
dimension of Finance, Production, and Marketing credible to construct latent variables of Primary Business
Functions Learning Experience.
Recommendation is given for Educational Institutions and small industry. The involvement of
educational institutions especially indispensable for economic education. Education of economic institution is
important in terms of clicking to increase business competence of small businesses based on the learning need
and learning model that fits the needs of small industry.Small industries should develop the attitude, motivation,
and a willingness to keep learning because basically learning is an integral part of the world of work. Learning
can be done by learning by doing or by means of a more formal through training and development by others.
With a willingness to learn constantly, of course, it will leverage the competencies in business.
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