School of finance & financial management

The study examined effect of board attributes and ownership structure on financial reporting timeliness of listed consumer goods in Nigeria. The research design was Ex post facto research design. This study used the entire 20 listed firms of consumer goods quoted on Nigeria’s equity market as at 31st December 2020 as its population. The study made use of purposive sampling technique. The sample size used is eleven (11). The period of the study was from 2011 to 2020. This study used panel data because the observations contain both time series and cross sectional units. Hence, panel multiple regressions. Findings revealed that board size, board meeting, foreign ownership and managerial ownership have positive but statistically insignificant effect on financial reporting timeliness of listed consumer goods in Nigeria. While, board of directors’ diversity and board independence have positive and statistically significant effect on financial reporting timeliness of listed consumer goods ...

This study aimed to survey e-procurement in the Public Sector with a view to investigate the challenges in adoption of e-procurement. Current literature on Public Procurement indicates a shift towards adoption of new technologies in Supply Chain processes that include e-procurement. These technological changes in the external business environment are eliciting various responses from Supply Chain actors in the public sector. The level of public sector response is influenced by various factors posing as challenges to adoption of e-procurement. The existing literature indicates some of the challenges arising while responding to these technological changes include lack of employee competence, inadequate legal framework, inadequate technological infrastructure for integrating e-commerce with other systems and concerns about security of e-procurement business transaction data and information. These perceived challenges in informed the purpose for this study. The study population included state corporations under the Ministry of Finance. Due to time and financial constraints, the researcher carried out a simple random selection of three respondents from the procurement departments of all the 16 corporations giving a sample size of 48. Both primary and secondary data was used for the study. The research study used a questionnaire as a key instrument for primary data collection. Qualitative data was analyzed through content analysis. Quantitative data was analyzed through the use of frequency distribution, mean scores and standard deviations. In addition, one-way analysis of variance (ANOVA) tests was carried out.  From the study, it was revealed that employee competency, inadequate legal framework, inadequate technological infrastructure and security of procurement transaction data was a challenge to e-procurement adoption in the organizations under review. The study recommended that among others, due to continuous turnover of the employees', continuous training for the incoming staff is required on eprocurement. In addition, formal recognition backed by legislation of the electronic procurement transactions should be encouraged. Integration of the Organizations system and those of the suppliers, demonstration of the positive impact of the system, and installation of linkages between all Governments agencies should be encouraged.

Keywords: E-Procurement Adoption, Electronic Procurement, Public Procurement

The main study areas considered in this research are risk content of projects, effectiveness and efficiency of portfolio management units, procurement principles, factors that impede implementation of project audits and strategies to enhance effective project auditing. The research distributed structured questionnaires to the staffs of Ministry of Local Government and had a response rate of 72%, which was sufficient to make conclusive remarks on the total population. The research was conducted with the voluntary participation of supply officers, heads of PMO, directors, project managers, human resources persons, administrative officers and other officers of the Ministry of Local Government. These groups of respondents represented by 57.8% males and 42.2% females have good education backgrounds from certificate/diploma to doctorates. The significance of the high educational levels depicts the level of knowledge possessed by the respondents in contributing to the research topic. The respondents have diverse experience in handling projects ranging from project management, procurement and logistics, monitoring and supervision, project analysis and stewardship. The general information on the respondents was presented. The first objective of the research was to analyze the risk content of respective projects. To achieve this objective, the researcher sought respondents' understanding of risk and how it is handled in their organization. The definitions given to risks by the respondents include; uncertain events that affects project performance, possibility of loss or project failure, exposure to outcomes of uncertainty, gaps in knowledge that affects project objectives, and threat of damage, injury and loss. The significant factor in the definitions given is the fact that risks affects the objectives and performance of projects. The respondents also highlighted how they identify risks in projects as individuals and as an organization. The research reveals that individuals identify risks by brainstorming and challenging of assumptions, assessing any actions likely to affect project activities, analyzing the sequence of events within business operations, and comparing the projects to other completed and similar projects. The organizations also identify risks by carrying out SWOT analysis and interviews. The SWOT analysis is carried out to determine the organizations' strength, weaknesses, opportunities and threats, a concept that takes into consideration internal and external factors of the organization. The respondents also ranked risk management processes from literature in order of importance. These include risk identification (1st), monitoring and reviewing of risk (2nd), analyzing the risk (3rd), treatment of the risk (4th) and evaluation or ranking of the risk (5th). The second objective of the research was to ascertain whether the project portfolio management units are suitable in terms of managing project activities in the organization. In order to achieve this objective, responses from the respondents were collated on whether their organizations have project management office and the functions of the units in managing projects. More than 70% of the

The District Assemblies' Common Fund (DACF) is a pool of resources created under Article 252 of the 1992 constitution of Ghana. It is a minimum of 5.0% of the national revenue set aside to be shared among all District Assemblies in Ghana with a formula approved by Parliament. The Common Fund is a development Fund that is intended to ensure equitable development of the various Assemblies in the country. The DACF Administrator is the Manager of the Fund. However, ensuring the success of the Fund is not the sole responsibility of the Administrator but a collective responsibility of all stakeholders including the government, the Administrator, officials of Metropolitan, Municipal and District Assemblies (MMDAs) that receive the fund, Ministry of Local Government and Rural Development (MLGRD), Civil Society who benefited from the fund. The fund is a Development Fund which enables the use of the nation's wealth throughout Ghana to the benefit of all citizens. However, the studies were not geared towards the role procurement practices play in determining the success or failure of projects funded by the District Development Fund. This backdrop formed the basis of the study for which the general objective of the study was the role of procurement practices on the performance of Projects funded by District Assemblies' Common Fund (DACF) in Ghana. The specific objectives were formulated after exploration of best procurement practices adopted in other countries and included; the role of stakeholder management, supply chain risk management, contract management, Supplier Appraisal on the performance of projects funded by District Assemblies' Common Fund (DACF) in Ghana. Theories relevant to this study were reviewed which included; stakeholder management theory, project management theory, Grey Systems theory and Transaction costs Economic Theory. The study variables were discussed under the conceptual framework under independent variables namely stakeholder management, supply chain risk management, contract management, and Supplier Appraisal. Critique of relevant literature to the study was done and research gaps identified. The target population was all the projects funded by District Assemblies' Common Fund (DACF) in Greater Accra. The study used stratified random sampling, and the sample size was 450 projects. The study used questionnaires for data collection which were self-administered by research assistants. Qualitative and quantitative data were coded and entered in Statistical Package for Social Sciences (SPSS) for analysis. Descriptive statistics were generated. To test the relationship between independent and dependent variables correlation analysis was undertaken where all the independent variables were positively correlated with the dependent variable. To test the predictability role of the model and test of hypothesis, logistic regression was used where the results showed that contract management had the highest predictability role in the model. For stakeholder management, regular communication with stakeholders was ranked as the most effective stakeholder management method followed by mutual trust and respect amongst the stakeholders. Standardising inputs specifications was found out to be the most effective method for supply chain risk. A financial appraisal was found to be one of the most undertaken appraisals across many projects. One sample T-test was used to evaluate the perceived effect of independent variables for which the findings were in line with the results obtained in the logistic regression model. The study recommended that the project and procurement committees should reduce

TQM has been identified as a vital factor sustainable competitive advantage in the currently challenging business environment (Yusof and Aspinwall, 2010). Unfortunately, organisations find it difficult to adopt it as a result of noncompliance with procedures and principles of TQM implementation (Naeem et al., 2008; Reed, Lemak, & Montgomery, 2012). While some firms run TQM as a program which they expert to function and perform the magic by itself, others have used half-hearted approach to it, by using some bits and pieces of the principles. This has accounted to the failure of most organisations to successfully implement this ideology (Oakland, 2010).  A preliminary study to establish the extent to which TQM has been adopted in the Ghanaian banking sector reveal that research work on the implementation of TQM in the Ghanaian banking sector is scanty. Most studies on TQM are focused on the manufacturing industry (AI-Mansour, 2007; Ahire, 2012; Adza-Awude, 2012). The few studies that were done in the service sector in Ghana focused on higher education (Samson, & Terziovski, 2013). Moreover, (Kannan & Tan, 2011) established that banks can embrace quality management principles and implement them successfully to be able to delight their customers through efficient quality service. This study therefore seeks to bridge this knowledge gap by assessing factors that affects effective implementation of TQM principles in commercial banks in Ghana.

The study assessed the factors that support effective implementation of total quality management principles at HFC. A combination of primary and secondary data was applied in this research. Primary data was collected from 73 employees of five purposely chosen HFC bank branches in Accra. Secondary data was collected from the bank's annual reports, academic journals and previous relevant published studies. Data analysis techniques such as descriptive statistics and regression analysis were conducted on the collected data. The statistical package for social scientists software was applied for the analysis. The findings revealed that HFC bank has followed six key quality strategies to improve its operational performance. These strategies are continuous improvement, benchmarking practices, business process re-engineering, ISO series, lean practices and six sigma practices. Out of these approaches, continuous improvement, business process re-engineering and ISO series respectively contributed tremendously to improved operational performance at HFC bank. The study has also demonstrated that the six strategies have ended up in contributing to operational performance to a very great extent as pointed out by 87% of the respondents. These results were further corroborated by the regression coefficient results which established a positive significant association between the individual TQM strategies and operational performance. Factors such as top management commitment, customer focus, continuous improvement, and employee involvement and employee empowerment were observed as major contributors to effective implementation of TQM practices in firms.

In the contemporary world, rewards for better performance and success matter more than the actual achievement itself. Indeed, as the global financial crisis showed, rewards were everything for the bankers as they strove for more reckless bets and increasing risk taking. Because of the system of flawed incentives, rewards were seen to the ultimate prize that was greater than the actual process of winning. Hence, rewards management has to be seen in the
context of what are proper and just rewards and what are disproportionate rewards. The point here is that rewards ought to justify the performance and not exceed them. What I mean by this is that it is okay to reward a high performer for his or her stellar performance but not to the point where in the pursuit of rewards, the individual throws caution to the winds and indulges in unethical behavior. For the present day generation, rewards matter more than
the actual performance and this is reflected in their increasing demands from the employers for salary hikes and bonuses. If not anything else, the millennial generation believes that excessive rewards are their due. Though this is not to say that only this generation behaves that way (this pattern can be seen in the
Generation X as well), it is the case that undue emphasis is being placed on the rewards alone as opposed to the fulfillment one gets by getting the job done in a proper manner.

This article has discussed the various facets of rewards management and the factors that determine monetary and nonmonetary rewards. The article also discusses the impact of the ongoing economic crisis on the quantum of rewards
both monetary and nonmonetary that are being actualized across the world. To start with, except for Wall Street and the Bankers, salaries have taken a hit in almost all sectors. Indeed, it can be said that the quantum of the pay hikes has
been substantially lower across all sectors and everywhere in the world ever since the great recession has started. Further, many organizations have scaled down on their budgets for fun and entertainment as well as cut down on the nonmonetary rewards like perks and benefits. The implications of the recession on rewards management have indeed been dire and gloomy.

Individuals in an organization form its vital resource and must be valued, nurtured and retained. Employees are the most valuable assets and truly the backbone of an organization. Every employee in his/her own way contributes towards the success or failure of an organization. Without employees in an organization, even the most powerful machinery with the latest technology would not function. Employees should not treat their organization as a mere source of earning money. Remember, your job is not just to come in the morning, leave in the evening and receive your paycheck. On the other hand, employers should not treat their employees as slaves. Employers must invest their time and resources in training and developing their workforce for them to become indispensable resources later on. Employees should be developed and prepared to face even the worst situations.

Supply Chain Management encompasses, planning, design, control and implementation of all business processes related to procurement, manufacturing, distribution and sales order fulfillment functions of a business. All these activities involve multiple networks of vendors and service providers which are integrated and co-coordinated by the Supply Chain Experts of the organization to move raw materials and finished goods from and to all distant locations across the globe. Logistics is the backbone on which Supply Chains are driven. Logistics refers to the management of the flow of goods and supplies involving information, data and documentation between two entities or points. Logistics plays important role in post procurement function of delivery of raw material from the supplier to the point of production and Finished Goods Supply chain management from the point of dispatch from factory to the point of delivery to the customer. The flow of goods flows through a network of transportation by road, rail, air or ship and intermediary warehouses to hold inventories before moving to the forward locations. The entire activity involves multi-tier suppliers, agents, and agencies including freight forwarders, packers, customs department, distributors and Logistics service providers, etc.

Inventory management as well as Supply chain operations are often overlapping and hold the key to the success of sales operations. In all of the businesses be in automobile, manufacturing, pharma or retail industry, status of inventory reflects the health of the business. Inventory operations have two key elements namely Inventory System and Physical operations. Today inventory systems have replaced the book keeping and financial accounting that was being practiced earlier. Current inventory systems not only do the book keeping but are linked to upstream as well as downstream activities including procurement, sales processing, financial accounting. In terms of measuring a sales performance in relation to Inventory, we often use the term Inventory Turnover. Inventory turnover simply refers to the number of times the inventory is sold or used in a period of one year. Inventory turnover is also termed as stock turn, or stock turnover. Inventory Turnover is calculated by taking the Total Cost of Goods Sold, divided by Average Inventory. Adding together Beginning inventory and ending inventory and dividing the figure by 2 in turn calculate average Inventory. The inventory turnover as a measure of health of sales and business is used extensively in Retail, textile as well as FMCG segments. A higher inventory turnover does indicate a healthy trend of increased sales and indicates the need to maintain adequate inventory levels to avoid stock outs. In adequate stocks can result in loss of business opportunities and is something that the management needs to keep watching closely. On the other hand, a lower inventory turnover shows that either the sales of the said inventory is slowing down or that the unused inventory is building up clogging the system somewhere. A slow inventory turn can help the inventory manager focus on finding non-moving, obsolete and slow moving inventory items and thereby steps can be taken to deal with them appropriately. Inventory turnover also reflects the holding cost that is incurred in managing inventory. Increased inventory turns reduce the holding costs. The costs especially fixed costs like rent and cost of operations get distributed over higher inventory throughput and thereby the cost of inventory transactions reduces.

often hear the term employee engagement being spoken about in various contexts. We are often told by management experts that engaged employees are a source of sustainable competitive advantage. During earlier periods of organizational theory and practice, it was common for the HR (Human Resources) function to take care of administrative aspects such as payroll and mediate in the industrial disputes between labor and management. Not anymore. With the rise of the services sector and the advent of the knowledge economy, employees are no longer yet another factor of production and instead, they have become the key factor, which makes or breaks the firms. Indeed, one of the icons of the Indian Software Industry, Mr. NR Narayanamurthy has gone as far as to say that employees are the only capital that the software industry has. In this context, it is important to connect the terms employee engagement and its use in the actualization of the concepts introduced in the previous paragraphs. Therefore, this article examines how engaged employees can contribute to not only their careers but also become sources of competitive advantage for the firms.

Individuals in an organization form its vital resource and must be valued, nurtured and retained. Employees are the most valuable assets and truly the backbone of an organization. Every employee in his/her own way contributes towards the success or failure of an organization. Without employees in an organization, even the most powerful machinery with the latest technology would not function. Employees should not treat their organization as a mere source of earning money. Remember, your job is not just to come in the morning, leave in the evening and receive your paycheck. On the other hand, employers should not treat their employees as slaves. Employers must invest their time and resources in training and developing their workforce for them to become indispensable resources later on. Employees should be developed and prepared to face even the worst situations.

In today's scenario where there is no dearth of competitors in the market, it is essential that employees work with dedication and sincerity. How do you expect a new joinee to develop a sense of loyalty and attachment towards the organization all of a sudden? The poor fellow does not know much about your company and it does take time for everyone to adjust in the system. Respect towards the organization comes with due course of time only when the employee is treated well by his superiors.

With the ever evolving and diversifying business challenges, the approach to the management of human resources has also undergone a paradigm shift. The competitive advantage achieved through technology, new products and information is short lived and vastly evaporating. The only distinguishing feature from the competition which remains, are the skills and contribution from the employees. The organizational leadership therefore plays an important part as they directly influence the performance and the people of the organization. A well-defined and uniform competency framework is the first step towards an organized approach to the human resource management of the organization. There is a constant need to increase efficiency and create and deliver value in each transaction. Therefore, it is imperative that a more scientific approach like competencies be used to define and understand the knowledge, skills and attitude required to perform a job effectively. Evaluating an employee's performance based on pre-defined competencies and their behavioural indicators, in turn is called competency based assessment. The preliminary condition for a competency based assessment is a well-defined competency framework of the organization. Ideally, the competency framework needs to be in alignment with the long term organizational goals and its vision and mission. These competencies then need to be interpreted in the context of the tasks performed by employees at different levels, so a competency like fosters teamwork will be defined differently for a senior leader like COO and would further have to be contextualized for a junior manager.

This paper analyzing the effects of covid-19 on employers and employee’s relationship. It aims at identifying the main stressors during and post COVID-19, examining the main moderating factors which may mitigate or aggravate the impact of COVID-19 on employers and employee’s relationship and finally to suggest recommendations from a human resource management perspective to mitigate COVID-19’s impact on employers and employee’s relationship. Methods: This paper is a literature review. The search for articles was made in Google scholar, Web of Science and Semantic scholar. A combination of terms related to coronavirus OR COVID-19, employers and employee’s relationship. Due to the paucity of studies on the COVID-19 impact on employers and employee’s relationship, there is a need to draw on studies on recent epidemics. Results: The identified literature reports a negative impact of COVID-19 on individual’s employers and employee’s relationship. Stressors include perception of safety, threat and risk of contagion, in obesity versus the unknown, quarantine and confinement, stigma and social exclusion as well as financial loss and job insecurity. Furthermore, three dimensions of moderating factors have been identified: organizational, institutional and individual factors.