The Essence of Enterprise Risk Management in Today’s Business Enterprises in Developed and Developing Nations

Risk as expected is not that fearsome matter, although it may keep management awake at night; revenue would not be possible without it. Enterprise Risk Management at basics is broadly portrayed as structure of handling and managing risk across an organization. The key concern of this research is to investigate the ERM. The findings highlight that there are very few enterprises from developing nations which are into ERM while the developed nations’ enterprises are huskily and vigorously involved in it and this gap is due to the lack of awareness and serious concerns for value maximization of enterprise share holders in developing nations.Risk, Enterprise Risk Management, Financial Institutions, Developed Nations, Developing Nations

A study on the association between brand awareness and consumer/brand loyalty for the packaged milk industry in Pakistan

Brand awareness remains fundamental to consumer life as the interaction initiation point to the brands. This paper put forwards the relationship of brand awareness on consumer/brand loyalty in the packaged milk brands in the urban Pakistan. There is evidence of brand awareness and consumer/brand loyalty on brand equity. The approach takes into account sources of brand equity-brand awareness, consumer/brand loyalty and image (perceptions / associations) on the sample of consumer households. This paper suggests that in Pakistan among the packaged milk brands there is no relationship between brand awareness and consumer/brand loyalty. In addition, testing relationship by setting perceptions as the mediating variable between brand awareness and consumer/brand loyalty results the same. For practicing managers and marketers it is important to note that there is a need to update their understanding of the nature and role of brand awareness on convenience products which has random switch purchase behavior and low-involvement. In the current era, marketers must develop branding strategies for commodity-products such as milk packaged brands by investing and strengthening its supply chain system, to create and increase brand awareness for the milk brands in-turn to build consumer/brand loyalty than trying to directly build consumer/brand loyalty by heavy spending on promotional tools.brand awareness; consumer/brand loyalty; brand equity; brand perception

Fiscal Deficit cannot be reduced by increasing Taxes (A point to ponder from Pakistan)

In Pakistan the budget deficits have consistently at increasing trend from 1995 to onwards which is being financed by the governments of now and then through external and domestic borrowing which are resulting a high debt levels due to high interest cost associated with it and this all pave the way for an increase in forthcoming taxes levy by the government time to time. This paper is an empirical investigation of the proposition that Fiscal deficit cannot be reduced by increasing taxes. The finding reveals that an increase in taxes is not the better choice for tackling the jinni of fiscal deficit.Fiscal deficit, Tax Collection, Error correction model (ECM), ADF unit root test

Various stages of faith in human psychology

The Faith is the belief which comes from inside of a human or it is the inner state of strength which is similar to confidence while provoking a human to trust within a secular/ non secular context. The purpose of this article is to identify parallels of various stages of faith particularly as suggested by Fowler, from the person who is filled with fantasies first then has the moral rules and attitude, who moves on thereafter towards experiencing the world beyond the family, and then believes on self identity, has prejudices, and finally actualizes the spirit of an inclusive human community.Faith, Stages of Faith, Self-identity, Human Psychology

Waste Management in the Various Municipalities of Various Socio-Economic Conditions (An Empirical Evidence from Pakistan)

This paper investigates the waste management system of Pakistan while lifting a question on awareness, importance and the practices of waste management with a debate that whether or not the perceived awareness and importance of waste management has really turned up into the waste management practice in Pakistan. The findings confirms that there is no significant perceived awareness and sense for managing wastes (importance) in the various municipalities of all of the provinces of Pakistan and therefore, they do not generate the healthy waste management practices in almost every municipality and at times the practices are pathetic.Waste Management System, Waste Fractions, Sense for managing wastes, Municipality

Marketing is all about taking money from customers (an application of Tobit model)

One of the key dimensions of business is marketing and when we say marketing we talk about creating more revenue every second. Sales are an important key to success for revenue generation and for this purpose various marketing strategies have been developed. Sales are always driven by customers/consumers, and this thought is in practice since the inception of the concept of business. This paper is an appreciation on the comprehension of various marketing strategies (i.e. Single Segment Strategy, Differentiated Strategy, Un Differentiated Strategy, Product Development, Establishing The Brand, Innovation strategy, Market Growth Shares, Porter Cost Leadership, Market Expansion, Pricing, Diversification), which only aim at generating revenues while proposing the Tobit model to assess the relationships of outlined various marketing strategies with the revenue generation (sales of the products/ services). The comprehensive findings of this research reveals that all strategic means are important for generating revenues in relevance to the products/ services which are being offered and confirms that all outlined marketing strategies are designed and configured with the intent to grab the money from every pocket, but single segment strategy and market growth share strategy matter the most in this connections. Whereas, the Tobit model is revealed as an appropriate and robust model to predict the outlined relationship.Marketing Strategies, Sales, Customer Relationship, Marketing, Revenue, Tobit Model

Research Methodologies for Management Sciences & Interdisciplinary Research in Contemporary World

The charismatic trend attributed in the domain of interdisciplinary research and management sciences has resulted in the notable increase of research activities in these fields. The manifesto of this paper is to identify the major research methodologies in the management sciences in the contemporary world and specifically in Asian academic space. Based upon the research findings, this paper categorically presents the specific categories of research classification with empirical evidence and further explains various new trends in contemporary scientific publications in context to management sciences and interdisciplinary research.Research Methodology, Management Sciences, Interdisciplinary Research, Contemporary Scientific Publications

A battle between branded and me too brands (unbranded) products

Consumers have numerous options to select and buy various kinds of products. A retail outlet offers branded and me too (unbranded) items to the customers to buy from. The consumption pattern of both forms of products has which sort of variations, requires an accurate estimation and findings. For the outlined stated manifesto, personal survey technique was employed for grabbing the first hand data. Co- integration was used to understand and judge the co-variation between branded and me too (unbranded) products. Exclusive insights were revealed between the two different classes of product that an increase in consumer’s income level urges consumers to increase their consumption of branded products. Similarly, consumers opt to purchase branded product as there is a strong perception that branded items have good quality. While, it is also found that if there is an increase in the prices of branded and unbranded products than none of the products clearly win the battle and they have the same pattern for being consumed which is the co-movement of their consumption patterns.branded products, me too brands, Co-movements, Consumption patterns

An investigation of granger causality between tax revenues and government expenditures

The nexus between government revenue and government expenditure always wins the attention of policy makers and think tanks while they work four making fiscal policies for an economy. This paper is an empirical investigation on the unidirectional causality between government expenditures and the revenues, which government collects from public in shape of various levied taxes. Annual data for Pakistan from the period of 1979 to 2010 for governmental expenditures and its tax revenue have been collected. While, the unidirectional and bidirectional causality were interrogated via applying Granger causality for the outlined variables. The results indicate that there is an uni-directional causality between the expenditures and revenues, which runs from tax revenues to govt. expenditures, that is the previous lags of tax revenue has a causal impact on the current govt. spending.tax revenue, government expenditure, fiscal policy, granger causality,economy

Can we have another Fall?Evidence from past, present and prediction for future

This paper is an attempt to lift a commentary on why and how history observed the fall of Dhaka. Was the fall of Dhaka inevitable, did the people of Pakistan ever learn any lesson of mutual respect, humility and realism from this fall? The current scenario and growing crises bespeaks another question to the ruling bodies that are we really moving towards another trauma and another fall.Fall of Dhaka, Trauma of 16 December, Split of Pakistan