Purpose. The role of macroeconomic variables in shaping the economic status has been debated in the literature. The management of these factors has been epileptic and sometimes contradictory with consequential implications for sustainable economy. This study therefore examined the relative significance of macroeconomic factors (inflation rate, interest rate, exchange rate and unemployment rate) on current national income. In addition, it sought to ascertain the relative importance of prior income (past GDP) on current national income (current GDP) based on data obtained between 1975 and 2015. Methodology. The study deployed pre-estimation descriptive statistics and stationarity tests using the Augmented Dickey Fuller test and Phillip Perron tests. Johansen cointegration test was applied for establishing the long run relationship of the variables. The final phase is the post estimation tests to confirm the robustness of the estimated model. These are the Breusch-Godfrey test to check for any form of auto correlation among the variables, the heteroskedasticity test and the Impulse Response analysis of the dependent variable with respect to shocks in the explanatory variables. Findings. The result findings revealed that inflation contributes negatively to economic growth. Interest rate, exchange rate and unemployment impact economic growth positively. The entire explanatory variables have no short-run effect. The result of the Breusch-Godfrey LM and Breusch-Pagan-Godfrey test indicated the absence of serial correlation and heteroscedasticity respectively. In effect, by itself, macroeconomic stability does not guarantee sustainable high rates of economic growth in the absence of key institutional and structural measures. The study recommended diversification of the economy and the use of inflation targeting which would be commensurate with the level of economic growth should be pursued by policy makers Limitations. This research examined the impact of the various macroeconomic variables on the economy over a period of 41 years. A structural break analysis of the impact before and after major policy shifts like Structural Adjustment Programme (1986), Financial Sector reform (2004), Global Financial Crisis (2007 2008) etc. should be explored by new studies. Originality. This study is an original work. It has not been published in any other journal and is not being considered for publication by another channel
{"title":"ECONOMIC GROWTH AND MACROECONOMIC DYNAMICS IN NIGERIA","authors":"B. Johnson, A. B. Onakoya, O. Akeju","doi":"10.32728/RIC.2018.43/4","DOIUrl":"https://doi.org/10.32728/RIC.2018.43/4","url":null,"abstract":"Purpose. The role of macroeconomic variables in shaping the economic status has been debated in the literature. The management of these factors has been epileptic and sometimes contradictory with consequential implications for sustainable economy. This study therefore examined the relative significance of macroeconomic factors (inflation rate, interest rate, exchange rate and unemployment rate) on current national income. In addition, it sought to ascertain the relative importance of prior income (past GDP) on current national income (current GDP) based on data obtained between 1975 and 2015. Methodology. The study deployed pre-estimation descriptive statistics and stationarity tests using the Augmented Dickey Fuller test and Phillip Perron tests. Johansen cointegration test was applied for establishing the long run relationship of the variables. The final phase is the post estimation tests to confirm the robustness of the estimated model. These are the Breusch-Godfrey test to check for any form of auto correlation among the variables, the heteroskedasticity test and the Impulse Response analysis of the dependent variable with respect to shocks in the explanatory variables. Findings. The result findings revealed that inflation contributes negatively to economic growth. Interest rate, exchange rate and unemployment impact economic growth positively. The entire explanatory variables have no short-run effect. The result of the Breusch-Godfrey LM and Breusch-Pagan-Godfrey test indicated the absence of serial correlation and heteroscedasticity respectively. In effect, by itself, macroeconomic stability does not guarantee sustainable high rates of economic growth in the absence of key institutional and structural measures. The study recommended diversification of the economy and the use of inflation targeting which would be commensurate with the level of economic growth should be pursued by policy makers Limitations. This research examined the impact of the various macroeconomic variables on the economy over a period of 41 years. A structural break analysis of the impact before and after major policy shifts like Structural Adjustment Programme (1986), Financial Sector reform (2004), Global Financial Crisis (2007 2008) etc. should be explored by new studies. Originality. This study is an original work. It has not been published in any other journal and is not being considered for publication by another channel","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"134 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78650362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose. The paper explores reverse logistics activities such as product return, reuse of materials, and waste disposal impacts on the management of waste products in the Nigerian manufacturing companies. This is with a view to examining the awareness of reverse logistics to the management of waste products in Nigeria and determines the importance of reverse logistics activities and process to the management of waste products of Nigeria manufacturing firms. Methodology. Using a cross-sectional survey research design, 300 staff of selected manufacturing firms that deal with waste product were selected in Lagos and a well-structured and validated questionnaire was administered. From this, 250 copies were returned, while 246 were valid for the purpose of analysis. Data generated were analysed using descriptive statistics, analysis of variance test of significance and Friedman rank test. Findings and Implication. The findings revealed that the respondents convinced that their reverse logistics activities arising from return of goods may be as very important to developing efficient and effective management of waste products of Nigeria manufacturing firms. The results also indicates that reverse logistics is highly significant in achieving the organizational goals (p < 0.05), company's future success (F = 8.18, p < 0.05), the functioning of a manufacturing company (p < 0.05) and strategically positioning the company. The study therefore recommends the need for a growing focus on various sections of reverse logistics processes in waste products’ management of manufacturing company in order to achieve organisational goal and enhances sustainable business performance.
目的。本文探讨了逆向物流活动，如产品退货，材料再利用，废物处理对尼日利亚制造公司废物管理的影响。这是为了检查逆向物流对尼日利亚废物管理的认识，并确定逆向物流活动和过程对尼日利亚制造企业废物管理的重要性。方法。采用横断面调查研究设计，在拉各斯选择了处理废物的选定制造公司的300名员工，并进行了结构良好和有效的问卷调查。其中，250份被送回，246份为分析目的而有效。产生的数据采用描述性统计、方差分析显著性检验和弗里德曼秩检验进行分析。研究结果和启示。调查结果显示，受访者相信，他们的逆向物流活动产生的货物返回可能是非常重要的发展尼日利亚制造企业的废物的高效和有效的管理。结果还表明，逆向物流对实现组织目标(p < 0.05)、公司未来成功(F = 8.18, p < 0.05)、制造企业的运作(p < 0.05)和公司的战略定位具有高度显著性。因此，该研究建议需要越来越多地关注制造公司废物管理中逆向物流过程的各个部分，以实现组织目标并提高可持续的业务绩效。
{"title":"REVERSE LOGISTICS AND MANAGEMENT OF WASTE PRODUCTS: THE NIGERIAN MANUFACTURING FIRMS EXPERIENCE","authors":"B. B. Amole, S. O. Adebiyi, K. K. Arogundade","doi":"10.32728/RIC.2018.43/2","DOIUrl":"https://doi.org/10.32728/RIC.2018.43/2","url":null,"abstract":"Purpose. The paper explores reverse logistics activities such as product return, reuse of materials, and waste disposal impacts on the management of waste products in the Nigerian manufacturing companies. This is with a view to examining the awareness of reverse logistics to the management of waste products in Nigeria and determines the importance of reverse logistics activities and process to the management of waste products of Nigeria manufacturing firms. Methodology. Using a cross-sectional survey research design, 300 staff of selected manufacturing firms that deal with waste product were selected in Lagos and a well-structured and validated questionnaire was administered. From this, 250 copies were returned, while 246 were valid for the purpose of analysis. Data generated were analysed using descriptive statistics, analysis of variance test of significance and Friedman rank test. Findings and Implication. The findings revealed that the respondents convinced that their reverse logistics activities arising from return of goods may be as very important to developing efficient and effective management of waste products of Nigeria manufacturing firms. The results also indicates that reverse logistics is highly significant in achieving the organizational goals (p < 0.05), company's future success (F = 8.18, p < 0.05), the functioning of a manufacturing company (p < 0.05) and strategically positioning the company. The study therefore recommends the need for a growing focus on various sections of reverse logistics processes in waste products’ management of manufacturing company in order to achieve organisational goal and enhances sustainable business performance.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"4 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79389998","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Hoteliers have always endeavoured to retain guests within their facilities, to profit maximally by offering them additional services. Informing guests of various options is performed within in-house marketing techniques, whereas some are ICT based. Purpose. Hotel chain websites are aimed at the acquisition of guests and as such are inadequate for displaying detailed, service and current information that guests need during their stay in a tourist destination (e.g. happy hour offer at the lobby bar). What about information provided to guests once in the tourist destination? This paper will present one such solution: the Guest.net. It is an in-destination, location-based website accessible from all Maistra Inc. properties, representing a good solution for hotel chains with various nearby positioned tourism facilities aimed at retaining guests within chain facilities. Design/Methodology/Approach. The approach used in this paper is the case study method. Findings and Implications. Klante, Kroschel and Bolls theoretical information model (2004) was expanded by adding the planning in situ phase in tourism. Benefits of the application of similar guest services for hotel chains have been listed. Limitations. Limitations steam from the case study method and relate to the minor geographical area researched. Originality. There is an evident lack in research of customers in tourism during the visit phase, regarding their decision making process, especially in the evaluation of alternatives and their purchase decision in situ (Law, Buhalis, Cobanoglu, 2014), thus this paper broadens the identified gap in the information collection phase in the destination.
{"title":"MARKETING COMMUNICATION IN THE VISIT PHASE THROUGH GUEST.NET - AN INDESTINATION, LOCATION-BASED SYSTEM AT MAISTRA HOTEL CHAIN IN CROATIA","authors":"Iva Slivar","doi":"10.32728/RIC.2018.43/3","DOIUrl":"https://doi.org/10.32728/RIC.2018.43/3","url":null,"abstract":"Hoteliers have always endeavoured to retain guests within their facilities, to profit maximally by offering them additional services. Informing guests of various options is performed within in-house marketing techniques, whereas some are ICT based. Purpose. Hotel chain websites are aimed at the acquisition of guests and as such are inadequate for displaying detailed, service and current information that guests need during their stay in a tourist destination (e.g. happy hour offer at the lobby bar). What about information provided to guests once in the tourist destination? This paper will present one such solution: the Guest.net. It is an in-destination, location-based website accessible from all Maistra Inc. properties, representing a good solution for hotel chains with various nearby positioned tourism facilities aimed at retaining guests within chain facilities. Design/Methodology/Approach. The approach used in this paper is the case study method. Findings and Implications. Klante, Kroschel and Bolls theoretical information model (2004) was expanded by adding the planning in situ phase in tourism. Benefits of the application of similar guest services for hotel chains have been listed. Limitations. Limitations steam from the case study method and relate to the minor geographical area researched. Originality. There is an evident lack in research of customers in tourism during the visit phase, regarding their decision making process, especially in the evaluation of alternatives and their purchase decision in situ (Law, Buhalis, Cobanoglu, 2014), thus this paper broadens the identified gap in the information collection phase in the destination.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73242023","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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