THE IMPACT OF LOW FEMALE REPRESENTATION IN GOVERNANCE IN NIGERIA; A STUDY OF THE NATIONAL ASSEMBLY (2007 -2019)

 CHAPTER ONE

INTRODUCTION

1.1 Background to the Study 

In the developing nations like Nigeria, there is a growing concern of the lack of female representatives in politics.  Female have been regarded endangered class and their lack of representation in the Nigerian politics has been attributed to culture, religious, economic constraint and male chauvinism (Aiyede, 2016).  Most African nations and specifically Nigeria has ascribed the leadership roles on male, thus promoting the course of gender inequality.  However, in the just concluded 2019 Nigerian’s general elections a lot of female have taken a bold steps of time and come to assume leadership positions in the politics and this  is a great step in the right direction as it will go a long way in breaking the jinx of low female representation in the Nigerian Politics (Author, 2019).  The 2019 general election was viewed by many as an excellent platform to substantiate the voting pattern of Nigerian women and  it truly showed the active contribution and the support of female to the  campaigns and elections, hence the need for reflection and focused advocacy for the mindful and quality involvement of women in the structures of the newly elected government and parliament (Author, 2019).

PUBLIC RELATIONS AND INDUSTRIAL HARMONY (A CASE STUDY OF FEDERAL MINISTRY OF EDUCATION, ABUJA)

                                                                         CHAPTER ONE

INTRODUCTION

1.1    Background to the Study

The requirement for organizations to make a deliberate and ongoing effort to build and maintain a positive relationship with their varied publics has made public relations a necessity. The importance of public relations in an organization cannot be overstated. Public relations is a crucial aspect of management on which both for-profit and non-profit organizations rely directly or indirectly for their survival (Uduji, 2013). Every organization's corporate existence and operations are impacted by public relations. Communication, information, internal/external goodwill or reputation, and various partnerships are all aspects of public relations that every organization requires to stay afloat. In today's societies, public relations holds the key to mutual understanding between the government and its citizens, as well as other organizations and the worldwide community (Tesfaye, 2018).  Despite all of the foregoing, public relations remains one of the most misunderstood aspects of modern management in many nations. Various public relations practitioners have not had enough exposure to the proper public relations education or body of knowledge to qualify as true professionals, and some people outside the profession have very narrow derogatory and incorrect perceptions of what this management discipline does or is all about (Idakwo, 2012). Corporate bribery are sometimes referred to as PR, and public relations professionals or executives are viewed as nothing more than press or publicity agents, messenger boys, party planners, and cover-up gimmicks for paid specialists.

                                                         International Business

                                                                Bus 818

 Explain the disadvantages and limitations of foreign direct investment to a host country economic?

Advantages of foreign direct investment:

• Economic growth

The creation of jobs is the most obvious advantage of FDI, one of the most important reasons why a nation (especially a developing one) will look to attract foreign direct investment. FDI boosts the manufacturing and services sector which results in the creation of jobs and helps to reduce unemployment rates in the country. Increased employment translates to higher incomes and equips the population with more buying powers, boosting the overall economy of a country.

• Human capital development

Human capital involved the knowledge and competence of a workforce. Skills that employees gain through training and experience can boost the education and human capital of a specific country. Through a ripple effect, it can train human resources in other sectors and companies.

• Technology

Targeted countries and businesses receive access to the latest financing tools, technologies, and operational practices from all across the world. The introduction of newer and enhanced technologies results in company’s distribution into the local economy, resulting in enhanced efficiency and effectiveness of the industry.

• Increase in exports

Many goods produced by FDI have global markets, not solely domestic consumption. The creation of 100% export oriented units help to assist FDI investors in boosting exports from other countries.

• Exchange rate stability

The flow of FDI into a country translates into a continuous flow of foreign exchange, helping a country’s Central Bank maintain a prosperous reserve of foreign exchange which results in stable exchange rates.

• Improved Capital Flow

Inflow of capital is particularly beneficial for countries with limited domestic resources, as well as for nations with restricted opportunities to raise funds in global capital markets.

• Creation of a Competitive Market

By facilitating the entry of foreign organizations into the domestic marketplace, FDI helps create a competitive environment, as well as break domestic monopolies. A healthy competitive environment pushes firms to continuously enhance their processes and product offerings, thereby fostering innovation. Consumers also gain access to a wider range of competitively priced products.

• Climate

The United Nations has also promoted the use of FDI around the globe to help combat climate change

Disadvantages of foreign direct investment:

• Hindrance of domestic investment

Sometimes FDI can hinder domestic investment. Because of FDI, countries’ local companies start losing interest to invest in their domestic products.

• The risk from political changes

Other countries’ political movements can be changed constantly which could hamper the investors.

• Negative exchange rates

Foreign direct investments can sometimes affect exchange rates to the advantage of one country and the detriment of another.

• Higher costs

When investors invest in foreign counties, they might notice that it is more expensive than when goods are exported. Often times, more money is invested into machinery and intellectual property than in wages for local employees.

• Economic non-viability

Considering that foreign direct investments may be capital-intensive from the point of view of the investor, it can sometimes be very risky or economically non-viable.

• Expropriation

Constant political changes can lead to expropriation. In this case, those countries’ governments will have control over investors’ property and assets.

• Modern-day economic colonialism

Many third-world countries, or at least those with history of colonialism, worry that foreign direct investment would result in some kind of modern-day economic colonialism, which exposes host countries and leave them vulnerable to foreign companies’ exploitation.

• Poor performance

Multinationals have been criticized for poor working conditions in foreign factories.

Explain the Diamond of National Competitive advantage theory and in what ways can Nigeria benefits from the adoption of the theory?

Porter Diamond is a model that emphasizes the competitive advantage of an industry or business that makes it work better than other competitors in a region or country. Also known as the Porter Diamond Theory of National Advantage, the model explains why certain industries thrive in particular nations. Companies use this model to analyze the competitive environment in foreign markets before entering them. The model outlines factors that determine the relative strength of entities, which drives them to become better than the rest. Besides some of the attributes that are available and identifiable in the environment itself, businesses have the liberty to create their own strengths to empower their presence and become an entity of national importance.

Porter Diamond Model discusses factors and traits of a business that make it more successful than others in a particular region. It enables companies to identify the resources that need to be developed to enhance their performance compared to the rest of the entities dealing in the same category of products and services.

Michael Eugene Porter, an American academician and influential thinker on management and competitiveness, developed the Porter Diamond model. It is an economic model for businesses, especially multinational organizations planning to expand their operations in different markets. The model lets companies identify the key areas to focus on to capture global markets effectively.

With the help of this theory, the business players can understand the reason for certain industries being widespread in particular nations. On this basis, they can analyze their position in the market and thereby implement strategies to compete and excel.

Social economic factors

 Social economic factors influencing the involvement in entrepreneurship among students in higher institutions: a study of selected higher institutions in Lagos, Nigeria (University of Lagos and Yaba College of Technology)

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

The concept of entrepreneurship entails the creation of value with risk beyond what  is usually  faced  in  starting an organization which may involve other values than simply economic ones (Abubakar, 2010).Olatunji and Ejalonibu (2014) posited that entrepreneurs are hardworking enthusiasts that are committed to a course and can persevere;  while others view a cup from the standpoint of being half empty,  they see it as being half full. 

Despite the fact that there does not exist any uniform term in defining an entrepreneur, various authors, writers and researchers have sought to explain it in a variety of ways. Osalor (2013) defined entrepreneurship as an individual that personally carries the burden of executing a business through buying the raw materials needed for a product and then subsequently selling it at his own fixed price."According to Kagbu (2018), an entrepreneur is a someone that creates new ideas, develops businesses from theseincubated ideas, which in turn addsmore value to the community at large. In the words of Bornstein and  Davis (2010), entrepreneur conduct represents a type of individual prepared to lose his or her career and financial stability in the name of an idea, investing a significant amount of time and resources in an uncertain enterprise

THE ROLE OF ALTERNATIVE DISPUTE RESOLUTION (ADR) IN SETTLING ENVIRONMENTAL DISPUTES IN NIGERIA

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The traditional means for resolving conflicts is the court of law. The power to interpret laws as well as to resolve disputes amongst disputing parties is vested in the judicial organ of government. But due to the perceived demerits of litigation like time consuming, expensive, too much formalities and technicalities, overloaded cause lists and many more, which inhibits the actualization of justice which is the main purpose of having the courts, ADR mechanisms were introduced as viable alternatives for disputants to resolve their issues without any waste of time or resources. This has proven to be good alternative for settling disputes in Nigeria.  Although the court is set up as the temple of justice for disputants, there are some matters that are not suitable for litigation and this where ADR comes in. The introduction of ADR in Nigeria has a traceable history in her culture. There are strong beliefs that many African states practiced ADR long before the coming of colonialism in Africa.  The make-up of our traditional societies was such that disputes were referred to the elderly members of the community for settlement. These are members of the society that were highly respected. 

During the pre-colonial era, Nigeria was made up of clans, villages, settlements, having kingdoms and/or empires that governed the affairs of the people like the Sokoto caliphate, old Oyo empire, Benin Kingdom, Borno Emirates and many more. There were always disputes among inhabitants of these communities or kingdoms and their disputes were resolved adequately without resorting to litigation.  The duty of hearing and resolving disputes were given to the elders or any other body created for same purpose. 

YOUR LAND IS YOURS

                       AN EXAMINATION OF COMPULSORY ACQUISITION IN NIGERIA                                                                                            UNDER THE LAND USE  ACT OF 1978.

                                                                     CHAPTER ONE

General Introduction

1.1.0 Background to the Study

The contributions of land to man on earth through all the sands of time can hardly be overemphasized. Land constitutes at about only about 30% of the earth’s surface, it offers a ground on which human activities are predicated. It is indeed an oxymoron that as the Global population increases, the availability of land for development or farming and other activities appears to have become elusive. Hence land is appearing not to be sufficiently available to meet the need of man in a society. The ownership cum possession of land is a vexed issue. Kings were slayed, battles are fought, territories ceded all in a bid to claim and preserve the ownership of land. Many instances abound, the Jammu and Kashmir in Pakistan with India, The clash between Nigeria and Cameroon over Bakassi Peninsula, the famous clash between Ife and Modakeke and that between offfa and Erinle bears testimony to the above claim.

Before the 29th March, 1978  when the Land Use Act was enacted, there were existing land laws  which governed land tenure systems in Nigeria before, during and after the advent of the colonial masters. These laws continued to be in operation until they were found to be defective because despite their existence, the problems of land tenure persisted in Nigeria. One the most serious of these problems was the difficulty in acquiring land by the government in major urban centres for national development because of land speculations, racketeering and high cost of compensation  usually demanded by the land owners whenever government acquired land to execute its projects.

 Research Methodology 

Bus 817

Question 1: Critically discuss these main sections of Literature Review chapter of Higher Degree Thesis and explain the importance and contribution of each to the entire research report:

a) Conceptual Framework: A conceptual framework is an analytical tool with several variations and contexts. It can be applied in different categories of work where an overall picture is needed. It is used to make conceptual distinctions and organize ideas. A conceptual framework is a synthetization of interrelated components and variables which help in solving a real-world problem. It is the final lens used for viewing the deductive resolution of an identified issue. 

b) Empirical Literature: Empirical literature is reported in such a manner that other investigators understand precisely what was done and what was found in a particular research study—to the extent that they could replicate the study to determine whether the findings are reproduced when repeated. An empirical literature review, also known as a systematic literature review, analyzes previous empirical studies. 

c) Theoretical Framework:  A theoretical framework is a foundational review of existing theories that serves as a roadmap for developing the arguments you will use in your own work. Theories are developed by researchers to explain phenomena, draw connections, and make predictions.  In a theoretical framework, you explain the existing theories that support your research, showing that your work is grounded in established ideas.

Question two: Primary and secondary data are used in different research situations and the type of research problem as do population and sample.  Show clearly, when these are more appropriate and the type of objects is required in the sample for each of them. 

Solution: Primary research data is most often used when they need accurate results on a specific topic. Secondary data is information that was part of a previous study and became accessible to everyone. Secondary data is inexpensive to use and is readily available.  For instance, your research questions will determine if primary data should be collected or not.  Same applies to the secondary data.   However, secondary data is a must in every research because, the literature reviews aspect involves the use of secondary data. Put for primary data, a research would decide not to use primary data for his research based on the questions of his or her research. 

Question three:

Write short notes on the following:

a) Communicating Research Results:  Traditional methods of communicating research include oral presentations, poster presentations, publishing abstracts and peer-reviewed research papers. Understanding your audience and the purpose of your dissemination are key to effectively communicating your research findings.

b) Regression Analysis: Regression analysis is a powerful statistical method that allows you to examine the relationship between two or more variables of interest. While there are many types of regression analysis, at their core they all examine the influence of one or more independent variables on a dependent variable.

c) Descriptive Statistics and University Analysis: A descriptive statistic is a summary statistic that quantitatively describes or summarizes features from a collection of information, while descriptive statistics is the process of using and analysing those statistics. Descriptive statistics are used to describe the basic features of the data in a study. They provide simple summaries about the sample and the measures.

d) Determination of Sample Size:  Sample size determination is the act of choosing the number of observations or replicates to include in a statistical sample. The sample size is an important feature of any empirical study in which the goal is to make inferences about a population from a sample.

e) Measurement Scale:  Scales of measurement is how variables are defined and categorized. Psychologist Stanley Stevens developed the four common scales of measurement: nominal, ordinal, interval and ratio.  Scales of measurement in research and statistics are the different ways in which variables are defined and grouped into different categories.

Question Three:  A good research thesis will have clear link from Chapters 1, 2, 3, 4 and 5.  Critically discuss typical thesis showing how these links are established and hwy the links are important for High Degree Theses of Business Research. 

(This question has been treated in the VN )

 

 

MONETARY POLICY RATE AND ITS IMPACT ON INFLATION TARGET IN NIGERIA

                              MONETARY POLICY RATE AND ITS IMPACT ON INFLATION TARGET                                                                                IN NIGERIA     

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

Monetary policy is typically concerned with the way in which monetary authorities use the instruments at their disposal to influence the decision of economic agents with the intention of achieving overall macroeconomic stability (Abubakar, 2014). Generally, monetary policy is discussed under two paradigms viz: the money supply or the interest rate theories (Masnan,  Shaari and Hussain, 2013). The money supply view is associated with the QTM approach in which money is considered as exogenous and under the control of central banks (CBs).  Underlying this is the notion that inflation correlates with the growth rate of money supply so that money becomes the most appropriate instrument of monetary policy (Mehrara, Soufiani,  and  Rezaei, 2016). The interest rate paradigm generally follows the Wicksellian structure where money is considered as endogenously determined in the economy and outside the control of the authorities (Rashid and Jehan, 2014). In the absence of shocks, therefore, inflation reflects government interest rate policy decisions. Following the proven inability of CBs to control money supply, emphasis has shifted essentially to the short-term nominal interest rate as the instrument of monetary policy; hence, the fall of monetarism.

Around the world, many countries have adopted various monetary policies achieving various results in the process. 

In the United States and many developed European countries, there are visible effects of monetary policies; but for many developing African countries, Nigeria, for instance, monetary policies have largely been debated leading to little or no effect of monetary policies.

COMPARATIVE STUDY ON MOBILE BASED IMAGE ANALYSIS SYSTEM FOR CERVICAL CANCER DETECTION

 CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

One of the curable kinds of caners in women is known as cervical cancer if diagnosed on time.  Cervical cancer, in some cases are caused as a result of infection with certain kinds  of Human Papillomavirus (HPV) (Ami  and  Singh, 2016).   Women with early sexual life or with several sexual partners are  high risk of contracting HPV and in the end cervical cancer. However, those with one sexual partner could be infected also.  Women above the age of 30 in the developed countries and are at high risk of HPV infection are vaccinated with HPV vaccines to mitigate the changes of having the diseases (Chelmow, 2016). 

Conventionally, optical tests such as VIA, cervicography and colposcopy that utilize direct visual check of the cervix are widely used today as a diagnostic tool. Healthcare professionals study the cervix at about one minute after applying the 5% acetic acid to the cervix area. Acetowhite region (AW), which is the suspected region of cervix, and other vascular abnormalities such as mosaicism, punctuation and vasculature may appear (Chigbu  and  Onyebuchi, 2014).

AN ASSESSMENT OF THE PROTECTION OF HUMAN RIGHTS OF JUVENILES IN CORRECTIONAL FACILITIES IN NIGERIA

            AN ASSESSMENT OF THE PROTECTION OF HUMAN RIGHTS OF JUVENILES IN                                                         CORRECTIONAL FACILITIES IN NIGERIA

Abstract 

Several children  in Nigeria are faced with various challenges owing to the situation such as poverty, poor family background, lack of educational opportunities resulting to these children committing crimes at early age and facing the wrath of the law by coming in contact with the justice system in Nigeria. Justice is the first virtue of social institutions as truth is of system of thought. However, the term justice system in Nigeria has been met with various issues and criticisms.  Lack of approved institutions and facilities have resulted to incarceration of children in adult correctional facilities, thus defeating the main aim of rehabilitation for the protection of child offenders while in remand and refine the child for a positive change.  This study seeks to assess the protection of Human Rights of Juveniles in correctional facilities in Nigeria.  The objectives of the study are to examine legal frameworks that offer protection of children in correctional facilities in relation to their Human Rights, evaluate the significant effect of incarcerating children in adult prisons and critically assess the performance of the Borstal Institutions and Remand Centres Act in relation to  juvenile justice in Nigeria.  The study will adopt a doctrinal research methodology which will rely heavily on library materials to obtain information from both primary and secondary sources data. Finally, findings and recommendations will be proffered at the end of the study that will be of immense benefit to the government and  judicial system in Nigeria. 

Keywords:  Juveniles, Correctional Facilities, Incarceration, Justice System 

CHAPTERONE: INTRODUCTION

1.1 Background of the Study

Nigeria is the most populous sub-Saharan country with a predominantly youthful population of less than 15 years of age . Sadly, many children in Nigeria face a life of poverty, family instability, inadequate educational opportunities as well as poor physical and mental health which hinder their ability to develop into healthy adults, like an improved quality of life or even fulfill their life aspirations . The sequence has been found to lead the children towards facing the wrath of the law by coming in contact with the justice system in Nigeria. According to Rawls, justice is the first virtue of social institutions as truth is of system of thought . On the main, the justice system employs institutions such as the police, the courts, the prisons, remand homes as well as rehabilitation centres. These agencies are the main actors in the fight against crime. According to Onimajesin, the police are responsible for detecting crimes and apprehending people who violate the criminal law, while the courts decide the guilt or innocence as well as sentence those who are convicted. The prisons or correctional institutions carry out the sentence of the court so as to rehabilitate criminals . It is noteworthy that the entire concept of justice system in Nigeria has been met with several issues and criticisms from the bar, bench and the general public. One of such has led to the 2013 grant by the centre for socio-legal studies to look into building an effective criminal justice system. Till the period of this study, the reforms are yet to be implemented, leading to the need to study the juvenile aspect of the reform.

The word “juvenile” has generated different spheres of discussions in terms of definition. According to Bamgbose, the common criterion for the definition of a juvenile is the use of age . She argues further that relying on age sometimes fail to take into consideration social, physical and psychological development of the child , while supporting her position with the case of Joseph Uwa v. State .

INTERNAL CONTROL AS AN INSTRUMENT FOR ENSURING ACCOUNTABILITY

                                     INTERNAL CONTROL AS AN INSTRUMENT FOR ENSURING                                                                                         ACCOUNTABILITY 

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study 

Internal controls have been in place since the start of history. There existed a parallel administration in Hellenistic Egypt, with one set of officials entrusted with collecting taxes and the other with monitoring and controlling them. The Control Yuan (Pinyin: Jiancha Yuan), one of the five departments of government in the Republic of China, is an investigative agency that oversees the other branches of government. Mismanagement has wreaked havoc on Nigeria's banking industry on multiple occasions, arising from either non-observance of management and regulatory bodies' established principles and policies (internal control systems) or the lack of such systems. Whatever the case may be, every organization, not just banks, must implement an efficient and effective internal controls measures to safeguard their assets from potential losses resulting from misappropriation of funds, misuse and vandalism of company property, expropriation, and mistakes made by inefficient and inexperienced personnel. Internal controls, according to Abdul (2019), are analogous to the central nervous system of a human being, whose breakdown, according to medical experts, would end in the perpetrator's death. In this way, the failure of an organization's internal controls system results in its extinction or distress. As a result, prudent and proactive businesses devote a significant percentage of their resources to ensuring the establishment of an adequate and effective internal control system.

 Internal control is defined by the Institute of Chartered Accountants of England and Wales as "the entire system of control created by management in order to carry on the business of the organization in an efficient and orderly manner, to safeguard its assets, and to secure the accuracy and reliability of its records to the greatest extent possible." Internal controls establish a baseline for the amount of work required of the experts assigned to the role, since they are expected to maintain the security of the organization's money, efficient and effective asset management, and the accuracy of financial statements at all times. Though internal controls systems cannot completely eradicate errors and irregularities, they are meant to alert management to possible problems so that they can be addressed before they become major issues. However, the efficiency of an established internal control system should be assessed on a regular basis to provide management with some assurance. The effectiveness of an internal controls system can only be determined if all of its components are present and functioning properly for operations, financial reporting, and compliance. The board of directors and its audit committee are responsible for ensuring that the organization's internal controls system is adequate. Internal and external auditors are involved in the evaluations, and this task involves establishing the extent to which internal controls are examined.

Internal controls are procedures put in place by an organization's management to guarantee that goals are met. An organization's internal control system functions similarly to the human nervous system, spreading throughout the hierarchy to carry out directives at various levels. Internal controls in government institutions, often known as management policing, are critical to maintaining public trust. This is accomplished by putting a check on the custodians of public funds on a regular basis. As a result, businesses must build effective and efficient control mechanisms to ensure that the entire organization's operations and day-to-day activities comply with specified rules and regulations.

  Nassarawa State University, Keffi

                                                    Faculty of Administration 

                                            Department of Business Administration 

                                            Course:   Management  Information System   (Bus 816)

                                          Likely exams Questions and Answers

Question 1: Outline the information system infrastructure 

Information systems infrastructure refers to a range of devices and technologies, applications and systems, standards and conventions that the individual user or the collective rely on to work on different organizational tasks and processes.  These include;

Hardware: This means the machinery and equipment.  

Software:  This implies the computer programs and the manual  if any that support them. 

Data:  Data are facts that are used by system to produce useful information. 

Procedures:  Procedures are the policies that govern the operation of information system

People:  Every system needs people if it is to be useful. 

Question 2:

The three level of management have responsibility for performing different functions and require varied information to take decisions.  Explain the information needs of these levels of management and the information system requirement 

Top Level Management:  Consist of the board of director, general manager and other senior executives.  They fixed the objectives of the organization such as formulating policies.  They also take important decisions to achieve the objectives.  They give out instructions lower level management.   To support their strategic planning functions, they use Executive support information system and decision support system. 

An executive information system (EIS), also known as an executive support system (ESS), is a type of management support system that facilitates and supports senior executive information and decision-making needs. It provides easy access to internal and external information relevant to organizational goals. Decision support systems (DSS) are interactive information systems that assist a decision maker in approaching ill-structured problems by offering analytical models and access to databases. These systems are designed to support the decision-making process, rather than to render a decision. 

Middle Level Management:  Consists of head of functional departments and are responsible to top management.  They are concern with the organization and direction function of management. They interpret the programs and policies communicate by the top level management.  They organize and manage their department.  Management information and reporting systems (MIS) are systems that present mid level and senior managers through periodic, often summarized information that help them determine performance. 

Lower Level Management:  These are supervisory management and they include supervisors, foremen, gang boss accountants, officers, sales officers etc.  They are more concern with the direction and control function of management.  They plan for a day or week, organize the activities of his group, allot work to the workers under him, issue instructions at the site, motivate the employees, arrange managerial, machines, tools  etc.  They use Transaction process systems (TPS).  A transaction process system (TPS) is an information processing system for business transactions involving the collection, modification and retrieval of all transaction data. Characteristics of a TPS include performance, reliability and consistency.

Question 3:  Explain the responsibilities of a system designer

Solution: Systems designers work with organizations to understand the problems with their information systems and develop ways to improve processes. Problem-solving skills are critical to helping systems designers analyze the cause of the problem and find solutions using their technical knowledge.

System designers create detailed design documentation for the development of computer systems in accordance to business needs.

System designers are logical, analytical, and have a high-level knowledge of IT and computer engineering.

• Ability to solve complex problems with an analytical, systematic approach

• Ability to communicate and work well with others to ensure functionality in their design

• Have a keen attention to detail and are highly organised – especially when planning out a complex system design and the many components involved

• Exert strong leadership skills for delegating tasks or directing the work of others

• Able to meet strict deadlines

• Have expertise in information technology and computing systems

Question 4: What form of analysis are undertaken under feasibility study?

Solution: A feasibility study contains a detailed analysis of what's needed to complete the proposed project. The report may include a description of the new product or venture, a market analysis, the technology and labor needed, as well as the sources of financing and capital. It identifies the possibility of improving an existing system, developing a new system, and produce refined estimates for further development of system. It is used to obtain the outline of the problem and decide whether feasible or appropriate solution exists or not.

Question 5: What do you understand by the term functional perspective in information system classification?

Solution: A functional perspective: Identifying systems by their major business function. A constituency perspective: Identifying systems in terms of the major organizational groups that they serve. The sections that follow classify it with reference to four perspectives, each of which takes a particular view on the nature of ISs and organizations, and hence on the effects of ISs within organizations. These four perspectives are the determinist, mechanistic, systems, and interactionist approaches.

Question 6: Explain a typical information system for a production and manufacturing organization

Solution: There are numerous information technologies that have been used for production operations. They have constituted main modules of production information systems such as production planning system, quality management system, procurement/inventory control system, cost management system, and product development system. Manufacturing information systems are integral to the modern manufacturing facility. They are computer software platforms used to track to and document the transformation of raw materials to finished goods. With the implementation of a manufacturing and production information system, facility managers and decision makers can understand how conditions in the production process can be optimized and improved for increased output. The manufacturing information system operates in real-time, covering the full range of production elements in the process, including machines, inputs, personnel, and more.  With comprehensive manufacturing information system software, facility managers have a complete view into the entire production process, providing them with real data, instead of guesswork and wasting time trying to pinpoint a problem. In addition, the manufacturing execution system can also play a key role in automation and ensuring the proper sequencing of both manufacturing and business processes.

Operations Management likely exam questions and answers

 

Operations Management

Bus 815

Question 1

a)      Explain with examples the four types of qualitative forecasting techniques

 Delphi Technique:  The main objective of the Delphi technique is to construct consensus forecasts from a group in a structured manner. The technique involves a repeated cycle of questionnaires presented to a panel of select experts. The independent answers provided by the expert team are then forwarded to the facilitator to analyze and summarize the opinions.

Market Research:  Market research is a popular qualitative forecasting method used in business. It forecasts future demand through consumer surveys and questionnaires. Businesses apply this technique to gain valuable insights from consumers when, for example, introducing a new product into the market. It differs from the Delphi technique because public opinions are considered here to glean insights, and not just those of experts. Market research methodologies also change according to evolving market challenges.

Panel consensus method:  Panel consensus is a qualitative forecasting technique that brings all the internal experts of an organization together for an open discussion about a product or service. Anyone may speak up, and the meeting will end when a consensus is reached. The accuracy of the forecast is ex post facto verified against actual sales data.It is also known by other terminologies such as forecasting averaging, model averaging, ensemble averaging, or expert aggregation. This method differs from Delphi or market research in involving only the experts internal to the organization.

 Visionary forecasting:  In contrast to using group think, visionary forecasting is usually based on the individual opinion or judgement of an experienced and respected individual in the field. In this method, a set of future scenarios is usually determined by the “visionary” based on past events. It is therefore based on subjective guesswork and somewhat non-scientific

 b)     Discuss the benefits of just-in-time production system

Industries that practice JIT manufacturing often experience advantages and benefits such as:

More cost-efficient production.

Continuous quality improvement.

Waste Elimination.

Improve productivity.

Improve supplier relationships.

Improve storage space used.

Reduce costs associated with storage.

Reduce manufacturing time.

 

Question 2

a)      Discuss the major parties to a project

The management structure of sizable projects usually involves four major parties: the owner, the construction manager, the designer, and the contractor.

 

b)     For business organizations to succeed in this era, they need to change their culture to imbibe Total Quality Management (TQM).  Give reasons why organization must switch  to TQM

 

TQM can have an important and beneficial effect on employee and organizational development. By having all employees focus on quality management and continuous improvement, companies can establish and uphold cultural values that create long-term success to both customers and the organization itself. TQM’s focus on quality helps identify skills deficiencies in employees, along with the necessary training, education or mentoring to address those deficiencies. With a focus on teamwork, TQM leads to the creation of cross-functional teams and knowledge sharing. The increased communication and coordination across disparate groups deepens institutional knowledge and gives companies more flexibility in deploying personnel. The benefits of TQM include:

Less product defects. One of the principles of TQM is that creation of products and services is done right the first time. This means that products ship with fewer defects, which reduce product recalls, future customer support overhead and product fixes.

Satisfied customers. High-quality products that meet customers’ needs results in higher customer satisfaction. High customer satisfaction, in turn, can lead to increased market share, revenue growth via upsell and word-of-mouth marketing initiated by customers.

Lower costs. As a result of less product defects, companies save cost in customer support, product replacements, field service and the creation of product fixes. The cost savings flow to the bottom line, creating higher profit margins.

Well-defined cultural values. Organizations that practice TQM develop and nurture core values around quality management and continuous improvement. The TQM mindset pervades across all aspects of an organization, from hiring to internal processes to product development.

Question 3

a)      What are the major factors affecting the choice of locating production facilitates?

Several factors that influence location positioning include the location of raw materials, proximity to the market, climate, and culture.  Conversely,  the selection of a region or area in which plant is to be installed requires the consideration of the following:

·         Availability of Raw Materials: ...

·         Proximity to Markets: ...

·         Transport Facilities: ...

·         Availability of Power, Fuel or Gas: ...

·         Water Supply: ...

·         Disposal Facility for Waste Products: ...

·         Climatic and Atmospheric Conditions

THE ROLE OF THE WORLD TRADE ORGANIZATION IN RESOLVING TRADE DISPUTES UNDER INTERNATIONAL LAW

                                                                          CHAPTER ONE

                                                              GENERAL INTRODUCTION

1.1 Introduction/Background to the Study 

The World Trade Organisation [hereinafter called “WTO”] is the organisation which was set up out of the Uruguay Round of General Agreement on Tariffs and Trade negotiations in 1953 and which became the successor to and replacement of the General Agreement on Tariffs and Trade [GATT] and it inter alia regulates trade and tariffs worldwide and settles trade disputes amongst members . The “Dunkle Text’ contained a charter for a Multilateral Trade Organisation [MTO] aimed at providing an institutional framework within which the results of the Uruguay Round could operate. Within the MTO was established a new dispute settlement mechanism and a Trade Policy Review Mechanism [TPRM]. There was a framework which, provided annexes of the more important areas such as the General Agreement on Trade in Services [GATS] and The Agreement on Trade Related Intellectual Property [TRIPS] which were a part of the Text

PROTECTION OF WOMEN’S RIGHTS UNDER THE NIGERIAN PLURAL LEGAL SYSTEM

                                                                       Abstract

The issue of protection of rights of women in Nigeria has been a thing of great concern and attracted global attention. It is a long time agitation and not just a recent development. Majority of the women folk suffer one form of discrimination or another for the reason of being women and wrongful perception of the society that women belong to a subordinate class. The research work examined the laws relating to the protection of Right of Women under the Nigerian Legal Systems and their applicability in practical term. Although the rules governing the rights and empowerment of women are clearly spelt out under both Common and Islamic Laws, the problem on which this research focused its investigation is: To what extent have these laws been implemented? The work studied and analyzed the discriminations suffered by women in Nigeria in view of the existence of rights of women enshrined in the various Nigeria laws, and determined legislative and other measures to be taken to deal with the problems in order to improve the enjoyment of their rights.

The work examined the rights of women from Pre-Colonial and Colonial Nigeria with emphasis on Post Colonial period. The aim of examining the Pre-Colonial period is to assess the protection of rights of women and the rights available to them before the advent of colonial era as a foundation for the subsequent periods. In colonial period, this research work found that women began to gain more rights than it used to be. In the post colonial period, the work examined and assessed the progress made or otherwise in the area of protection of the rights of women from independence to date. It was found that the major development that occurred at this period was the inclusion in the Constitution of a chapter on Fundamental Human Rights and subsequently a Chapter on Fundamental Objectives and Directive Principals of State Policy, both of which enshrined the rights of every citizen including women.

Also the work found that apart from the Nigeria constitution, which enshrined the rights of women, there are other numerous international and regional treaties, which elaborated women’s rights. Nigeria was found to be a signatory to most of these treaties. The country was also found to have gone further to domesticate some of the provisions of the treaties in our local laws. In spite of these, this research work found that discrimination of women in Nigeria has not ended due to the existence of a wide gap between the provisions for the legal protection of the rights of women on the one hand and the reality of discrimination,. Furthermore, the work realized that the rules relating to the protection of rights of women are well articulated in the Qu’ran and the Hadith, due to some human factors however, there was a decline in respect of the deserving honour due to the Muslim female members of the society.

In view of the above the work recommended constitutional and other Statutory safeguard for the implementation of the rights of women, legal reforms to enhance the present state of the law in relation to the protection of rights of women and the need to improve on the general level of women’s education.

Nigeria floods: Over 1.5m children at risk - UNICEF warns

 

The United Nations Children’s Fund (UNICEF) has warned that more than 2.5 million people in Nigeria are in need of humanitarian assistance, 60 percent of which are children and are at increased risk of waterborne diseases, drowning and malnutrition due to the most severe flooding the country has experienced in the past decade.

Marketing Management Likely exams Questions and Answers

  Nassarawa State University, Keffi

                                                    Faculty of Administration 

                                            Department of Business Administration 

                                            Course:  Marketing Management   (Bus 814)

                                       Marketing Management  Likely exams Questions and Answers

Question 1

The idea behind strategic marketing management is to adapt to your market as things change around.

a. Discuss the advantages and disadvantages in implementing a strategic marketing strategy in a business organization 

b. Explain the place and role of segmentation, targeting and positioning and penetration in strategic marketing management 

Solution to a:

Advantage: Promotes Business to a Target Audience

Business can  sell their products or services without appealing to the people most likely to buy those products and services. That group is known as the target audience, and a marketing strategy is the most effective way to reach that all-important group. If business have targeted this group correctly, they know their habits, behaviors, wants, and needs, and they  also know where they like to hang out on social media. This information shapes the methods the business  will use to promote the products or services

Advantage: Helps Understand Customers

Marketers have to do market research before they develop a marketing strategy, and that research can provide marketers with reams of data that they can use over and over to help refine their product development and to keep up with trends and shifts in their target audience’s behavior. With the evolution of digital information, even small businesses have access to hyper-detailed information about prospective customers. This is known in the digital world as “big data,” large data sets that give you a deep analysis into customer behavior based on factors such as online activity, buying activity, mobile activity, and interactions at stores and shops.

Advantage: Helps Brand Business

Business marketing strategy isn’t just about boosting leads and converting them into buyers, it’s also about expressing the culture, values, and purpose of the business. The process of communicating that vision to your audience is the essence of branding. For example, Apple’s marketing strategy is all about simplicity, elegance, design, and function. Their products are sleek, simple, beautiful, and offer multiple functionalities. When people think of Apple, they think of a company whose products are always on the cutting-edge of technology, design, and physical attractiveness.

Disadvantage: Costs of Marketing

Although the digital revolution has somewhat evened the playing field, the truth is that small business is still at a disadvantage, when it comes to grabbing their share of eyeballs through their marketing efforts. Big data has great value, but accessing that data is expensive, and you have to keep analyzing that data to stay abreast of buyer trends. Launching a marketing campaign on a website can also be expensive, especially if you’re using a pay-per-click strategy to attract more prospects. 

Disadvantage: Time and Effort May Not Yield a Return

Big brands can afford to spend time and effort working on a marketing campaign that fails, because they have the resources to regroup and move on. As a small business owner, however, the return on investment on a marketing campaign may be low, and that means you have spent months crafting a strategy that did nothing to help your bottom line. Even the most well-planned marketing campaigns fail, and at the small business level, that can set you back for months.

Solution to b:

Market segmentation divides the market into subgroups of individuals who share similar needs, wants, and characteristics. It is the marketer's goal to identify the appropriate subgroups of consumers. There are four ways of segmenting consumers.

1. Age.

2. Sex.

3. Income.

4. Family size.

5. Occupation, etc.

Targeting: The second step includes deciding who to target. Targeting involves deciding which customer segment or market the firm should be aiming at. Once a firm identifies all market segments, it must determine which ones to target and how many. This strategy aims to identify small, well-defined target groups. For instance, Imagine you are working as a marketing manager for a clothing retailer. Instead of deciding to target all women, you would specify that you want to target women between the ages of 25-30 who purchase new clothes at least once every two weeks. To find the appropriate target market, you need to evaluate the market segment based on its attractiveness, and whether the firm has the resources and capabilities to do this effectively.

Positioning:  Finally, the company has to position its product in the market. Positioning involves determining where your brand or product stands affecting others in the market. Positioning is a vital part of marketing strategy, as it influences how customers perceive your product offering. It is directly related to your value proposition.

The STP model comes down to a marketer making two crucial decisions: which customers should we serve? And how should we serve those customers? Market positioning is the last step in the decision-making process. The business has to decide how customers will view its product and how it will compete in the chosen market segment.

Question 2:

Discuss the five main characteristics of intangibility and five types of customer variability common in services and explain how the challenges are being countered by marketing management 

Solution:

In marketing, intangibility most often is used to describe services with no tangible product that the customer can purchase. The inability to touch or see this product leaves the customer unable to assess the value using any tangible evidence. 

Five types of customers common in services are:

i. Arrival variability:  All customers do not want the service at the same time or at times convenient for the company. A simple solution is to require customers to take appointments, but in many circumstances customers themselves cannot foresee or delay their needs.

ii. Request variability: Customer’s requirements can vary widely and a service provider needs to have a flexible operation system, which essentially means having more variety of equipment’s and employees with diverse skills.

iii. Capability variability: Some customers perform tasks easily and others require hand-holding. Capability variability becomes important when customers are active participants in the production and delivery of a service.

iv. Effort variability: When customers perform a role in a service delivery process, they differ in terms of the effort they put in performing the role.

v. Subjective preference variability: Customers vary in their opinions about what it means to be treated well in a service environment. Companies treat customer-introduced variability in two ways (i) The company accommodates customer-introduced variability (ii) The company reduces customer-introduced variability.

Question 3:

a. Discuss the options open to a business  that wants to move its products to a new market (Internationally)

Solution to 3a:

There are five basic options available: (1) exporting, (2) creating a wholly owned subsidiary, (3) franchising, (4) licensing, and (5) creating a joint venture or strategic alliance (Figure 7.25 “Market entry options”).

Exporting:  Exporting involves creating goods within a firm’s home country and then shipping them to another country. Once the goods reach foreign shores, the exporter’s role is over. A local firm then sells the goods to local customers.

Licensing:  While franchising is an option within service industries, licensing is most frequently used in manufacturing industries. Licensing involves granting a foreign company the right to create a company’s product within a foreign country in exchange for a fee. These relationships often centre on patented technology. A firm that grants a license avoids absorbing a lot of startup costs, but typically loses some control over how its technology is used, including quality control. Profits are limited to the fees that it collects from the local firm and firms must be aware of the degree of risk to intellectual property loss.

Franchising:  Franchising has been used by many firms that compete in service industries to develop a worldwide presence. Subway, the UPS Store, and Hilton Hotels are just a few of the firms that have done so. Franchising involves an organization (called a franchisor) granting the right to use its brand name, products, and processes to other organizations (known as franchisees) in exchange for an upfront payment (a franchise fee) and a percentage of franchisees’ revenues (a royalty fee).

Joint Ventures and Strategic Alliances:  In a joint venture, two or more organizations each contribute to the creation of a new entity. In a strategic alliance, firms work together cooperatively, but no new organization is formed. In both cases, the firm and its local partner or partners share decision-making authority, control of the operation, and any profits that the relationship creates.

Creating a Wholly Owned Subsidiary:  A wholly owned subsidiary is a business operation in a foreign country that a firm fully owns. A firm can develop a wholly owned subsidiary through a greenfield venture, meaning that the firm creates the entire operation itself. Another possibility is purchasing an existing operation from a local company or another foreign operator. Regardless of whether a firm builds a wholly owned subsidiary “from scratch” or purchases an existing operation, having a wholly owned subsidiary can be attractive because the firm maintains complete control over the operation and gets to keep all of the profits (or losses) that the operation makes. A wholly owned subsidiary can be quite risky, however, because the firm must pay all of the expenses required to set it up and operate it. 

  Nassarawa State University, Keffi

                                                    Faculty of Administration 

                                            Department of Business Administration 

                                            Course:  Marketing Management   (Bus 814)

                                       Marketing Management  Likely exams Questions and Answers

Question 1

The idea behind strategic marketing management is to adapt to your market as things change around.

a. Discuss the advantages and disadvantages in implementing a strategic marketing strategy in a business organization 

b. Explain the place and role of segmentation, targeting and positioning and penetration in strategic marketing management 

Solution to a:

Advantage: Promotes Business to a Target Audience

Business can  sell their products or services without appealing to the people most likely to buy those products and services. That group is known as the target audience, and a marketing strategy is the most effective way to reach that all-important group. If business have targeted this group correctly, they know their habits, behaviors, wants, and needs, and they  also know where they like to hang out on social media. This information shapes the methods the business  will use to promote the products or services

Advantage: Helps Understand Customers

Marketers have to do market research before they develop a marketing strategy, and that research can provide marketers with reams of data that they can use over and over to help refine their product development and to keep up with trends and shifts in their target audience’s behavior. With the evolution of digital information, even small businesses have access to hyper-detailed information about prospective customers. This is known in the digital world as “big data,” large data sets that give you a deep analysis into customer behavior based on factors such as online activity, buying activity, mobile activity, and interactions at stores and shops.

Advantage: Helps Brand Business

Business marketing strategy isn’t just about boosting leads and converting them into buyers, it’s also about expressing the culture, values, and purpose of the business. The process of communicating that vision to your audience is the essence of branding. For example, Apple’s marketing strategy is all about simplicity, elegance, design, and function. Their products are sleek, simple, beautiful, and offer multiple functionalities. When people think of Apple, they think of a company whose products are always on the cutting-edge of technology, design, and physical attractiveness.

Disadvantage: Costs of Marketing

Although the digital revolution has somewhat evened the playing field, the truth is that small business is still at a disadvantage, when it comes to grabbing their share of eyeballs through their marketing efforts. Big data has great value, but accessing that data is expensive, and you have to keep analyzing that data to stay abreast of buyer trends. Launching a marketing campaign on a website can also be expensive, especially if you’re using a pay-per-click strategy to attract more prospects. 

Disadvantage: Time and Effort May Not Yield a Return

Big brands can afford to spend time and effort working on a marketing campaign that fails, because they have the resources to regroup and move on. As a small business owner, however, the return on investment on a marketing campaign may be low, and that means you have spent months crafting a strategy that did nothing to help your bottom line. Even the most well-planned marketing campaigns fail, and at the small business level, that can set you back for months.

Solution to b:

Market segmentation divides the market into subgroups of individuals who share similar needs, wants, and characteristics. It is the marketer's goal to identify the appropriate subgroups of consumers. There are four ways of segmenting consumers.

1. Age.

2. Sex.

3. Income.

4. Family size.

5. Occupation, etc.

Targeting: The second step includes deciding who to target. Targeting involves deciding which customer segment or market the firm should be aiming at. Once a firm identifies all market segments, it must determine which ones to target and how many. This strategy aims to identify small, well-defined target groups. For instance, Imagine you are working as a marketing manager for a clothing retailer. Instead of deciding to target all women, you would specify that you want to target women between the ages of 25-30 who purchase new clothes at least once every two weeks. To find the appropriate target market, you need to evaluate the market segment based on its attractiveness, and whether the firm has the resources and capabilities to do this effectively.

Positioning:  Finally, the company has to position its product in the market. Positioning involves determining where your brand or product stands affecting others in the market. Positioning is a vital part of marketing strategy, as it influences how customers perceive your product offering. It is directly related to your value proposition.

The STP model comes down to a marketer making two crucial decisions: which customers should we serve? And how should we serve those customers? Market positioning is the last step in the decision-making process. The business has to decide how customers will view its product and how it will compete in the chosen market segment.

Question 2:

Discuss the five main characteristics of intangibility and five types of customer variability common in services and explain how the challenges are being countered by marketing management 

Solution:

In marketing, intangibility most often is used to describe services with no tangible product that the customer can purchase. The inability to touch or see this product leaves the customer unable to assess the value using any tangible evidence. 

Five types of customers common in services are:

i. Arrival variability:  All customers do not want the service at the same time or at times convenient for the company. A simple solution is to require customers to take appointments, but in many circumstances customers themselves cannot foresee or delay their needs.

ii. Request variability: Customer’s requirements can vary widely and a service provider needs to have a flexible operation system, which essentially means having more variety of equipment’s and employees with diverse skills.

iii. Capability variability: Some customers perform tasks easily and others require hand-holding. Capability variability becomes important when customers are active participants in the production and delivery of a service.

iv. Effort variability: When customers perform a role in a service delivery process, they differ in terms of the effort they put in performing the role.

v. Subjective preference variability: Customers vary in their opinions about what it means to be treated well in a service environment. Companies treat customer-introduced variability in two ways (i) The company accommodates customer-introduced variability (ii) The company reduces customer-introduced variability.

                                                  Nassarawa State University, Keffi

                                                    Faculty of Administration 

                                            Department of Business Administration 

                                            Course:  Corporate Finance  (Bus 813)

                                       Corporate Finance Likely exams Questions and Answers

Question 1

a. In relations to dividend theory, explain briefly (i) bird in hand approach (ii) home-made dividend and (iii) clientele effect 

b. Dividend irrelevancy theory is relevant.  Discuss this argument in relation to the theories 

c. Explain the forms of dividend 

Solution to a:

Bird in Hand Approach:  The bird-in-hand theory says investors prefer stock dividends to potential capital gains due to the uncertainty of capital gains. The theory was developed as a counterpoint to the Modigliani-Miller dividend irrelevance theory, which maintains that investors don't care where their returns come from.

Home-made dividend: What Are Homemade Dividends? Homemade dividends are a form of investment income generated from the sale of a portion of an individual's investment portfolio. These assets differ from the traditional dividends that a company's board of directors distributes to certain classes of shareholders.

Clientele Effect: The clientele effect is a change in share price due to corporate decision-making that triggers investors' reactions. A change in policy that is viewed by shareholders as unfavorable may cause them to sell some or all of their holdings, depressing the share price

Solution to b:

Dividend irrelevancy theory is relevant:  Modigliani and Miller's dividend irrelevancy theory states that dividend patterns have no effect on share values. Broadly it suggests that if a dividend is cut now then the extra retained earnings reinvested will allow futures earnings and hence future dividends to grow.

Solution to b:

Explain the forms of dividend:

i. Cash Dividend: Cash dividends are the most commonly used dividend type. In this type of dividend, the dividend amount is paid by transferring a sum of money. The money can be transferred electronically or through cash and check. When the company declares the dividend, then all the shareholders existing on the date specified by the company are eligible to receive the payment of dividend before the company makes a payment; the company must arrange enough cash to pay off the dividends.

ii. Stock Dividend:  Stock dividends refer to the dividend which is paid by allotting a certain number of shares to the existing shareholders without taking any kind of consideration. The stock dividend is treated differently in two different cases where; the first case is when the company issues less than 25 % of the outstanding shares, then it is treated as a stock dividend, but if the issue is more than 25% of the outstanding number of share, then the same is treated as stock split and nit stock dividend.

iii. Scrip Dividend: A scrip dividend is the type of dividend issued by the company in which the company gives transferrable promissory notes which promise to pay the shareholders the amount of dividend on some later date. The notice issued may or may not be interest-bearing.

iv. Property Dividend: Property dividend is paid using non-monetary items such as assets, inventories, etc., rather than directly paying cash. The company pays this dividend when the company does not have enough cash reserves to pay off dividends. The company has to record this distribution at the fair market value of the asset, and the difference between the fair market value and the asset’s book value is recorded as gain/loss.

v. Liquidating Dividend: The liquidating dividend is the dividend declared by the company usually when the company is in liquidation and the directors decide to pay back to the shareholders their original contribution towards the capital of the company.

Question 2

a. Explain the concept of profit maximization and the criticisms that led to the consideration of wealth maximization as the primary objective of finance 

b. Discuss the roles that financial managers perform in a corporate firm

Solution to a: 

Concept of Profit Maximization:  Profit maximization is considered as the goal of financial management. In this approach actions that increase the profits should be undertaken and the actions that decrease the profits are avoided. The term 'profit' is used in two senses.

• The main focus of profit maximization is on increasing the profit of the company while wealth maximization deals in raising the value of stakeholders in the company. The profit maximization theory is centered around the profit motive while wealth maximization looks at the wellbeing of all stakeholders.

• The risk and its effects on financials of the company are a core part of the wealth maximization process, while there is no focus on risk in the profit maximization theory. Therefore, in practice, profit maximization is not a complete theory in itself while wealth maximization is much more cohesive and inclusive in nature.

• Profit maximization is actually a concept that is basically related to day-to-day business profits. Wealth maximization is a more complex process of increasing the overall wealth of the company that is reflected in the increased price of shares in the market.

Note − Profit maximization does not cover the risk factors associated with finance and operations but wealth maximization does.

Solution to b:

The roles that financial managers perform in a corporate firm:  Financial managers generally oversee the financial health of an organization and help ensure its continued viability. They supervise important functions, such as monitoring cash flow, determining profitability, managing expenses and producing accurate financial information.

Question 3

What is a Bond?  Enumerate five characteristics of bonds 

Solution to question 3:

A bond represents a promise by a borrower to pay a lender their principal and usually interest on a loan. Some of the characteristics of bonds include their maturity, their coupon rate, their tax status, and their callability. Several types of risks associated with bonds include interest rate risk, credit/default risk, and prepayment risk. Most bonds come with ratings that describe their investment grade.

Corporate Finance Likely exams Questions and Answers

Nassarawa State University, Keffi

                                                    Faculty of Administration 

                                            Department of Business Administration 

                                            Course:  Corporate Finance  (Bus 813)

                                       Corporate Finance Likely exams Questions and Answers

Question 1

a. In relations to dividend theory, explain briefly (i) bird in hand approach (ii) home-made dividend and (iii) clientele effect 

b. Dividend irrelevancy theory is relevant.  Discuss this argument in relation to the theories 

c. Explain the forms of dividend 

Solution to a:

Bird in Hand Approach:  The bird-in-hand theory says investors prefer stock dividends to potential capital gains due to the uncertainty of capital gains. The theory was developed as a counterpoint to the Modigliani-Miller dividend irrelevance theory, which maintains that investors don't care where their returns come from.

Home-made dividend: What Are Homemade Dividends? Homemade dividends are a form of investment income generated from the sale of a portion of an individual's investment portfolio. These assets differ from the traditional dividends that a company's board of directors distributes to certain classes of shareholders.

Clientele Effect: The clientele effect is a change in share price due to corporate decision-making that triggers investors' reactions. A change in policy that is viewed by shareholders as unfavorable may cause them to sell some or all of their holdings, depressing the share price

Solution to b:

Dividend irrelevancy theory is relevant:  Modigliani and Miller's dividend irrelevancy theory states that dividend patterns have no effect on share values. Broadly it suggests that if a dividend is cut now then the extra retained earnings reinvested will allow futures earnings and hence future dividends to grow.

Solution to b:

Explain the forms of dividend:

i. Cash Dividend: Cash dividends are the most commonly used dividend type. In this type of dividend, the dividend amount is paid by transferring a sum of money. The money can be transferred electronically or through cash and check. When the company declares the dividend, then all the shareholders existing on the date specified by the company are eligible to receive the payment of dividend before the company makes a payment; the company must arrange enough cash to pay off the dividends.

ii. Stock Dividend:  Stock dividends refer to the dividend which is paid by allotting a certain number of shares to the existing shareholders without taking any kind of consideration. The stock dividend is treated differently in two different cases where; the first case is when the company issues less than 25 % of the outstanding shares, then it is treated as a stock dividend, but if the issue is more than 25% of the outstanding number of share, then the same is treated as stock split and nit stock dividend.

iii. Scrip Dividend: A scrip dividend is the type of dividend issued by the company in which the company gives transferrable promissory notes which promise to pay the shareholders the amount of dividend on some later date. The notice issued may or may not be interest-bearing.

iv. Property Dividend: Property dividend is paid using non-monetary items such as assets, inventories, etc., rather than directly paying cash. The company pays this dividend when the company does not have enough cash reserves to pay off dividends. The company has to record this distribution at the fair market value of the asset, and the difference between the fair market value and the asset’s book value is recorded as gain/loss.

v. Liquidating Dividend: The liquidating dividend is the dividend declared by the company usually when the company is in liquidation and the directors decide to pay back to the shareholders their original contribution towards the capital of the company.

Question 2

a. Explain the concept of profit maximization and the criticisms that led to the consideration of wealth maximization as the primary objective of finance 

b. Discuss the roles that financial managers perform in a corporate firm

Solution to a: 

Concept of Profit Maximization:  Profit maximization is considered as the goal of financial management. In this approach actions that increase the profits should be undertaken and the actions that decrease the profits are avoided. The term 'profit' is used in two senses.

• The main focus of profit maximization is on increasing the profit of the company while wealth maximization deals in raising the value of stakeholders in the company. The profit maximization theory is centered around the profit motive while wealth maximization looks at the wellbeing of all stakeholders.

• The risk and its effects on financials of the company are a core part of the wealth maximization process, while there is no focus on risk in the profit maximization theory. Therefore, in practice, profit maximization is not a complete theory in itself while wealth maximization is much more cohesive and inclusive in nature.

• Profit maximization is actually a concept that is basically related to day-to-day business profits. Wealth maximization is a more complex process of increasing the overall wealth of the company that is reflected in the increased price of shares in the market.

Note − Profit maximization does not cover the risk factors associated with finance and operations but wealth maximization does.

Solution to b:

The roles that financial managers perform in a corporate firm:  Financial managers generally oversee the financial health of an organization and help ensure its continued viability. They supervise important functions, such as monitoring cash flow, determining profitability, managing expenses and producing accurate financial information.

Question 3

What is a Bond?  Enumerate five characteristics of bonds 

Solution to question 3:

A bond represents a promise by a borrower to pay a lender their principal and usually interest on a loan. Some of the characteristics of bonds include their maturity, their coupon rate, their tax status, and their callability. Several types of risks associated with bonds include interest rate risk, credit/default risk, and prepayment risk. Most bonds come with ratings that describe their investment grade.

Question 4

a. Enumerate the classes of investment 

b. Briefly explain payback period, internal rate of retun and net present value 

Solution to 4 a:

Growth investments:  These are more suitable for long term investors that are willing and able to withstand market ups and downs.

 Shares:  Shares are considered a growth investment as they can help grow the value of your original investment over the medium to long term. If you own shares, you may also receive income from dividends, which are effectively a portion of a company’s profit paid out to its shareholders.

Of course, the value of shares may also fall below the price you pay for them. Prices can be volatile from day to day and shares are generally best suited to long term investors, who are comfortable withstanding these ups and downs. Also known as equities, shares have historically delivered higher returns than other assets, shares are considered one of the riskiest types of investment.

 Property:  Property is also considered as a growth investment because the price of houses and other properties can rise substantially over a medium to long term period.  However, just like shares, property can also fall in value and carries the risk of losses. It is possible to invest directly by buying a property but also indirectly, through a property investment fund.

Defensive investments:  These are more focused on consistently generating income, rather than growth, and are considered lower risk than growth investments.

Cash: Cash investments include everyday bank accounts, high interest savings accounts and term deposits. They typically carry the lowest potential returns of all the investment types. While they offer no chance of capital growth, they can deliver regular income and can play an important role in protecting wealth and reducing risk in an investment portfolio.

Fixed interest:  The best known type of fixed interest investments are bonds, which are essentially when governments or companies borrow money from investors and pay them a rate of interest in return.

Bonds are also considered as a defensive investment, because they generally offer lower potential returns and lower levels of risk than shares or property. They can also be sold relatively quickly, like cash, although it’s important to note that they are not without the risk of capital losses.

Solution to 4 b:

Payback period: The payback period is the length of time it takes to recover the cost of an investment or the length of time an investor needs to reach a breakeven point. Shorter paybacks mean more attractive investments, while longer payback periods are less desirable.

Internal Rate of Return: The internal rate of return (IRR) is a metric used in financial analysis to estimate the profitability of potential investments. IRR is a discount rate that makes the net present value (NPV) of all cash flows equal to zero in a discounted cash flow analysis. IRR calculations rely on the same formula as NPV does

Net Present Value:  Net present value is the present value of the cash flows at the required rate of return of your project compared to your initial investment,” says Knight. In practical terms, it's a method of calculating your return on investment, or ROI, for a project or expenditure