IIUC Business Review

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Goal Programming: A Modern Management Technique in Decision Making
(CRP (International Islamic University Chittagong), 2006-08) Khan, Mohammed Shamim Uddin; Rahman, Muhammad Mahbubur
Managerial objectives varv according to the characteristics, types, philosophy, and particular environmental conditions of the organization. There is no single universal goal for all organizations. However, in modem times most of the business and industrial organizations do not consider profit maximization as their sole objective and goal. They are equally concerned abo market share goals, financial liquidity goals, emplovment goals, production goals etc. Besides, a wide range of social, political, economic and ethical aspects are increasingly being treated CIS goals bv organizations. Thus, modem management has multiple conflicting objectives. This multiple conflicting objectives problem cannot be solved easily by traditional mathematical Techniques. Goal programming is the 1I10st appropriate quantitative technique for solving such complex decision making problems. This paper shades light on the concept, philosophy and applicabilitv of goal programming model in managerial decision.
Fundamental Principles of Islamic Economic System: A Brief Overview
((CRP), International Islamic University Chittagong, Bangladesh), 2006-08) Bhuiyan, Mohammad Shafiul Alam
Islam is a complete code of life. It has given solution to all problems of our individual, social, political, economic and global lives. Islam has laid down its fundamental economic principles and prescribed some limits for economic activities of mankind in the Holy Qur'an & Sunnah. This paper is an attempt to identify the fundamental principles of Islamic economic system in brief It is a completely desk-based research. Al-Qur'an, different Hadiths, Islamic literatures, and other various research publications have been consulted to find out the basic principles of Islamic economic system.
Categorization Effects and Shareholders' Attitude in Bangladesh
((CRP), International Islamic University Chittagong, Bangladesh), 2006-08) Islam, Sreajul; Hassan, Rizwan
This paper briefly presents research findings regarding the categorization effects on the shareholders' attitude in Bangladesh. The Securities and Exchange Commission classifies all listed companies into different categories on the basis of some specific criteria in order to protect the interest of investors. This paper reveals that there are two schools of thought regarding categorization effects on shareholders' attitude. One school views that investors prefer and buy the company's shares on the basis of categorization. They want to invest in the companies on the priority basis from the various categories serially in order to reduce risks. Thus they encourage categorization system and think that they are getting benefit from the categorization system. The other school views that categorization is irrelevant, as it cannot affect the value of the firm in a perfect market. It reveals that investors prefer to invest in the companies' shares on the basis of growth rate and future prospects. They do not emphasize more on payout ratio and on AGM. They think that categorization cannot be useful for valuation of growth companies.
Effective Method of Teaching English at the Tertiary Level: A Study in the Context of Bangladesh
((CRP), International Islamic University Chittagong, Bangladesh), 2006-08) Yasmin, Selim
This article deals with the teaching learning process of English as a foreign language. In the present world English is the main media of communication. But the present condition of English teaching learning process in the educational institutions of Bangladesh is very poor. So, it has become essential for the Bangladeshis to learn this international language correctly and efficiently. This article is based all personal observation and experience of the author. After discussing the importance of learning English in Bangladesh, the present condition of teaching English in the Tertiary Level and its drawbacks have been pointed out. Different methods of language teaching learning process have also been incorporated in the paper. It was obvious from the study that the Eclectic Approach may be the best approach in teaching English as a foreign language. Some measures have been suggested at the end of the article for making teaching- learning process more effective
Role of Islamic Universities of The Modern Age Towards Islamization of Knowledge
(CRP (International Islamic University Chittagong), 2006-08) Sina, Abu; Jahangi, A.N.M. Abdullah
Knowledge (lim) is power. Islam makes "Education" or "Acquiring Knowledge" obligatory for eve/}' Muslim, male orfemale. Muslims considered seeking 'intellectual' or 'human' knowledge as 'lbadah' or religious service that brings blessings and pleasure of Allah, in the same way as they considered seeking 'revealed' knowledge. According to Islam human knowledge has two main sources: Divine source and human source. So 'Knowledge' is obtained either through revelation or through human intuition, reason, rational thinking, deduction, experience or empirical observation. It is evident that there was no contradiction or conflict between clergy and scientists or between 'religious' and 'scientific' knowledge. Under the above circumstances Muslim scholars around the world struggled to find out solutions for this conflicting dualism in education. Their suggestions were establishment of 'Islamic University'. It was not meant only to facilitate higher education and research in 'Islamic disciplines', but also to teach other disciplines of humanities and science in the light of Islamic perspective, Islamic thoughts, ideals and values. In other word it was meant for 'Islamization of Knowledge'. Islamization has two-fold job: first: expanding, upgrading and modernizing Islamic disciplines, second: connecting all other disciplines to Islamic faith and values. The article identifies the roles played by the Islamic Universities especially i) AI- Imam Muhammad Bin Saud Islamic University, Riyadh; ii) International Islamic University, Islamabad; iii) International Islamic University Malaysia; and ivy Islamic University, Kushtia, Bangladesh towards Islamization of knowledge. International Islamic University, Chittagong, Bangladesh also plays a vital role in Islamization of knowledge in Bangladesh. Thus it is seen that the universities in the Muslim countries were established upon a unique and unified Islamic system. Under this system they produced numerous scientists, philosophers, thinkers, intellectuals and scholars who preserved and developed the human heritage in all fields of humanities and science, carried the torch of learning and led the world toward knowledge. These Universities also produced scholars in Islamic theology and jurisprudence, who mastered knowledge of the Holy Qura-n and Hadith. They knew all mailers affecting the lives of Muslims. They also had good command on all the disciplines from literature and philosophy to medicine and astronomy. They have got the clear-sighted, intuitive knowledge of Islamic law and ethics. They got the ability of '!jtihad'.
Fields of Cyber Legislation in the LDCs: Bangladesh Perspective
((CRP), International Islamic University Chittagong, Bangladesh), 2006-08) Rahman, Osiur; Rahman, Mahhabubur
Since Bangladesh is one of the LDcs, it is trying to prevail over all the drawbacks for graduation. Modem technology, particularly computer as well as Internet has necessarily become the significant of part of development process. But the inevitability of computer and Internet for development has exposed many new areas of legislative initiative. Human resource development, JeT infrastructure, e-governance, e-commerce, software industry, hardware industry, social welfare. health care, agriculture, poverty reduction, environment, transportation, tourism, judiciary, regional and international co-operation etc are depending upon computer and internet. This dependency claims legislation in the differentfields
Islamic Management- An Introduction and Its Contrasts to Traditional Management
(CRP (International Islamic University Chittagong), 2006-08) Ather, Syed Mohammad
The article gives an introduction 10 Islamic management and its contrasts to traditional management. Islamic management is the achievement o{ 'Halal' (Permissible hy Allah SWT! objectives through the group efforts and co-operation of the members (of the organization) under the boundaries and framework ofrules and principles of Isiam. The fundamental objective of Islamic management is to have the satisfaction and blessings of Allah SWT Islamic management is not just like traditional management. It is strictly based on Islamic rules of 'Shariah'. Its philosophv: ethics, principles, process and procedures all center aroundfirm belie] in Allah SWT and His approved 11"Ul'S ofseuing and achieving 'Haled' objectives. Thus, Islamic management is such (/ management hy practicing which a Muslim manager call he equally benefited in this us well asin the after world Islamic management has got sharp contrast to traditional management as to objectives, philosophv, principles, features, and decision-making process.
Leaders-Followers' Relation in Organizations: An Islamic Perspective
(CRP (International Islamic University Chittagong), 2006-08) Ahmad, Abu Bakr Rafique
The leaders and the followers or the bosses and the sub-ordinates are two essential organs of human society. Progress ol an organization and welfare ol a societv mostly depend on healthy relation of these /H'o important organs of a society. Islam - being a complete code of lif« and a comprehensive social order cannot be ignorant ofa proper guideline regarding this verv important aspect ofhuman society. This study aims at highlighting the attitude of Islam towards this essential aspect ofthe society and tries to give an overview regarding the healthv relations of leaders and followers or the bosses and sub-ordinates in accordance with the teachings and guidelines given hy the Qur'an and Sunnah. To prove that the principles which had been laid down by Islam some 15 centuries ago are still can be considered most practical and utmost beneficialfor ensuring {he healthy relations in a human society.
Interrelationship Between Globalisation And National Responsiveness: An Analytical Approach
(CRP (International Islamic University Chittagong), 2006-08) Rana, Bakhtiar; Sobhani, Farid Ahammad
This paper presents a theoretical argument on the Globalisation' and 'National Responsiveness'; the most talked about issues of today's business 'world, whether they are diametrically opposed or symbiotic. The degree of relationship between Globalisation and National Responsiveness are also shown through the analysis of different cases of l\{HCS. Different international cases of lvfNCs have been critically discussed in the argument in different viewpoints of Globalisation and National Responsiveness. However. A matrix, 'Globalisation and National Responsiveness' has been discussed to analyze the strategic viewpoints of MNCs while considering the globalization effect and national responsiveness in global business operation. The argument of the paper has been viewed in fwo dimensions, one is how does national responsiveness impact on the corporate culture of lvfNCs international business and two is how does national responsiveness affect the business operation (Such as marketing) in international business.
Credit Market & Economic Development of Bangladesh: Review, Impact Analysis and Constraints
(CRP (International Islamic University Chittagong), 2006-08) Karim, Mohammed Shamsul; Rabbi, Yasir
Supplv of credit and economic development arc inter related. The evolut ion of credit is more than 9000 rears back. Front the very beginning of history, credit performed different types of function embedded [rom the transferring process of resources to the he/ping the poor to alleviate the povcrtv /('I'cI. There are different I,i('\\'s of credit, which are leveled as old views, monetary views and modern views, While monetarv views preferred restriction on credit for the balanced development of the economy, the modern views have worked to diminish the credit market imperfection for the expected economic development. Because of credit market imperfection, credit was }IOT allocated proportionately in different sectors in Bangladesh, Moreover, the total credit market \I'as not coordinated, Here, micro credit market was remaining out of any kind of surveillance. To overcome (lin' kind of imperjection, appropriate legal system need to be developed in Bangladesh considering the wholestic view of credit, In addition, institutional surveillance for micro credit and access to credit information is essential to overcome the market imperfection ami for the economic development of Bangladesh,
An Overview of Conceptual Framework of Organizational Models for Higher Educational Institutions
((CRP), International Islamic University Chittagong, Bangladesh), 2006-08) Ahmed, Jashim Uddin; Faruqui, Golam Ahmed; Zubayer, Mahmud
This paper includes a critical review of few organizational models for higher education institutions. Most researches focused on those conceptual frameworks for higher educational institutions which are being used throughout the institutions of higher educations of the world. Governance structures for institutions of higher education emerge from an intricate interweaving of historic and contextual factors. Readers willfind all these models are very useful in order to explain why institutions of higher educations behave as they do.
Government Plans and Programmes for Poverty Alleviation in Rural Bangladesh: A Critical Appraisal
((CRP), International Islamic University Chittagong, Bangladesh), 2006-08) Nahar, Nurun
Alleviation of poverty has been one of the core objectives 0/ the successive Plans 0/ Bangladesh. The growth in GDP during the period of all the plans was much below the target. The plansfailed to have desired impact on growth, income and wealth distribution. Neither the overall growth nor poverty focused sectoral development nor did structural changes, nor institutional reforms (land reform and administrative decentralization) take place after independence in any meaningful way to make a major breakthrough in poverty alleviation. The Government has introduced many programmes for socio-economic upliftment of the rural poor in Bangladesh. However, the poverty situation, despite showing some signs of improvement, is still very acute. The paper highlights the reasons for the less than expected levels of impact of the GOB programmes on poverty and suggests policy measures for future course of action. The micro-credit programmes implemented by government agencies as well as NGOs have some positive impacts in the programme-areas in terms 0/ education, employment, productivity and socio-economic conditions. In this respect, the BRDB's RD-12 programme has been a viable project. Employments in non farm sector and participation of women in the labour force have increased. A comparison between the approaches of GO and NGO programmes in poverty alleviation is given. Nevertheless, in spite of the various interventions over the years, alleviation of poverty remains a major challenge/or Bangladesh.
Relationship between Productivity and Profitability: A Case Study of Apex Tannery Ltd.
(CRP, International Islamic University Chittagong, 2007-08) Alam, Zahangir; Islam, Serajul; Rahman, Muhammad Mahbubur
The study attempts to find out the relationship between productivity and profitability of a firm. It is intended to measure how effectively a firm can uses its assets and how effectively the firm manages its operation. The empirical analysis of the study covered a period of 5 years of the sample enterprise. The study shows that there has been a positive partial relationship between productivity and profitability of the sample enterprise. It also indicates that the performance of the sample enterprise in terms of productivity and profitability has been far from satisfactory during the study period. Also an attempt has been made in this paper to highlight the productivity trends of an industry by using a suitable approach. Finally, the study suggests to undertake every possible measure by the competent authority to improve the position of the productivity and profitability of the sample enterprise
Impact of Exchange Rate Depreciation on Export of Bangladesh: An ARDL (Autoregressive Distributed Lag) Model
(CRP, International Islamic University Chittagong, 2007-08) Ahmmed, Monir; Alam, Rafayet
This paper is to examine the impact of depreciation of exchange rate on export of Bangladesh. An Autoregressive Distributed Lag Model (having lags of both dependent and independent variables) has been used to test this. From the analysis it has been found that depreciation at some lags has positive impact on export. But current-period depreciation has negative impact on export (this result goes with the findings of Fang. Lai, Miller. 2005 & Fang. Miller. 2004 where they showed that too much fluctuation in exchange rate might have offset the growth in export generated by depreciation). However. both the relations are statistically significant. These findings somehow go with the celebrated .l-curve effect which points out deterioration before an improvement in a country's trade balance resulting from a depreciation or devaluation. So in Bangladesh depreciation might not be a correct choice ifwe want to increase export within a short span of time. This analysis also shows that the income of the consumers of our exportable does not have significant effect on our export i.e. our export is income inelastic.
Women Entrepreneurship Development through a Trade Association in Chittagong - A Case Study on Chittagong Women Entrepreneurs (CWE)
(CRP, International Islamic University Chittagong, 2007-08) Chowdhury', Nazneen Jahan; Shahabuddin, A. M.
Increasing concern for economic development and the possibility of being able to control its direction has focused attention sharply on entrepreneurship as one of the major inputs towards development. To cope with this development, the country urgently requires the development of women entrepreneurship, for the fact that entrepreneurial ability needs to be cultivated through training and creation of economic climate that can force the attention of policy makers towards entrepreneurship as the desirable and manageable route to economic development through a collective force. The findings reveal that women entrepreneurs are facing severe problems in marketing and suffering from inadequate linking support in addition to common family related problems. The present study has examined how Chittagong Women Entrepreneurs (CWE) is helping women entrepreneurs in their development. The study has suggested some important policy measures like special credit scheme to them, development of network, using technological equipments etc. in order to make the women entrepreneurs competent to involve themselves in economic development.
Sustainable Competitive Advantages (SCAs) in the Mobile Telecommunication Industry of Bangladesh: Analyzing Key Success Factors
(CRP, International Islamic University Chittagong, 2007-08) Mollah, Muhammad Musharuf Hossain; Mowla, Mohammad Masrurul; Islam, Tarikul
The world is shrinking rapidly with the advent of faster communication Bangladesh, albeit a developing country, is /lO exception from it. To be successful, the service organizations and high-tech firms need to be creative in marketing with efficient operations by creating sustainable competitive advantage. For that case, this industry is offering at present the high technical and superior value adding services like: Global System for Mobile (GSM), Code Divisional Multiply Access (CDMA), Enhance Data Rate Global Evaluation (EDGE), Global Package Data Radio Services (GPRS) and Reactive Identification Module (RIM) etc. Understanding the key success factors would be a great contribution in developing an effective and creative marketing programme. In this paper, attempts have been made to identify the key success factors in the mobile telecommunication industry in Bangladesh The authors considered differentiation, financial resources, high scores of subscribers, network coverage, low call rate, promotional activities, sufficient customer care, market research, etc. which are focusing on commitment to continuous improvement and best performance as the major key success factors for the mobile telecommunication industry in Bangladesh. Moreover, they have taken a model of Sustainable Competitive Advantage (SCA) in order to identify the key success factors in the mobile telecommunication industry of Bangladesh. Finally, the authors have mentioned some guidelines for the policy makers to their further improvement of this sector in Bangladesh
The Need for an ESP Course for IIUC Business Students
(CRP, International Islamic University Chittagong, 2007-08) Sharit, Yasin; Huda, Nazmul
This article attempts to explore the dire necessity of English for Specific Purposes course designated for the learners of business studies at undergraduate and postgraduate levels at flUe. With the growing awareness of the ESP practitioners, discourse community norms are playing pivotal roles in moulding the communicative demands felt on their students. To mitigate and vivify this need, developing methods and principles for examining community customs and beliefs is necessitated Despite the growing demand for English for Specific Purposes (ESP) teaching in Bangladesh, ESP courses are still restricted to learning specific vocabulary and decipher texts. With the unceasing development in the international business dome, mucli concentration should be given to the design of ESP courses which can facilitate to groom students for upcoming professional communication. In reaction to these requirements, this article is all endeavor to urge and propose the relevam authority to initiate ESP course designing for lIue Business students at tertiary level. It first analyzes up-to-date literature and case studies associated with ESP course design When designing an ESP course, the principal concern is the investigation of learners' definite requirements. Other problems deal with setting up of practical aims and goals; assimilation oj grammatical [unctions and acquisition skills; and assessment and evaluation Although ESP circumstances deem these problems from their specific viewpoint, the projected outline for ESP curriculum improvement is claimed to be helpful to educationalists who may per/zaps run into hurdles in ESP curriculum plan
Assessment of Financial Soundness: A Case Study of Beximco Pharmaceuticals Ltd
(CRP, International Islamic University Chittagong, 2007-08) Islam, Serajul; Alam, Zahangir; Chowdhury, Abdul Hamid
The main objective of the study was to assess the financial soundness of Beximco Pharmaceuticals Ltd (BP L) by using Du Pont Equation &Altman's Model, The finn's management can use the Du Pont system and Altman's model to analyze ways of improving the firm's performance. By applying Altman's Model, it revealed that BPL would be financially unhealthy and would like to go bankruptcy in the near future. The main reasons for such state of affairs are shortage of adequate working capital, shortage of raw materials and their irregular supply, instability in raw material price, lack of requisite research & development activities, shortage of skilled manpower, lack of proper responsibility and accountability, limited market for products, absenteeism of workers from jobs, adverse factory environmental factors, power disruption and troubles in machinery. Therefore in order to improve the financial soundness of the company and to save it from bankruptcy proper steps should be taken to remove those reasons
Performance Measurement of Distribution Management System: A Case Study on Unilever (BD) Ltd.
(CRP, International Islamic University Chittagong, 2007-08) Mawla, Masrurul; Karim, Mohammed Shamsul; Rabbi, Mohammed Yasir
The purpose of business is to create and retain customer. But, the question is how? While business thinks in terms of products and derived values, customer is looking to meet their needs. Among the customers' need factors, getting the right product at the right time in the right place is one of the basic needs. In a sellers market like Bangladesh, it is difficult for the companies to develop competitiveness in distribution to provide products as per customers needs considering the customers different buying tendency. The success of a distribution system depends on the meeting of customers' time and place utility effectively. In an underdeveloped infrastructural conditions meeting all these are very difficult task. Unilever (BD) Ltd is the best known for its wide array of product portfolio and strong distribution system of consumer goods. Considering this, the study has been conducted to understand the performance Of Unilever ill distribution. For this purpose, Craven's model has been followed. The study identified that Unilever was meeting seventy percent of the place and time related utility. This study will help the business theoreticians to understand the distribution need in a developing country and will help to develop a comprehensive structure of distribution. The study will also help the companies operating in a developing country to develop their distribution system
Factors Affecting Fertility in Sylhet Division of Bangladesh: A Path Analytic Approach
(CRP, International Islamic University Chittagong, 2007-08) Chowdhury, Abdul Hamid
The objective of the paper is to study the effects of selected socio-economic and demographic factors on fertility in Sylhet administrative division of Bangladesh based on the data collected in the Bangladesh Demographic and Health Survey, 2004 employing the technique of path analysis for two age cohorts of women, IO paths out of 23 hypothesized paths are found to be statistically significant for both the age cohorts below 30 years and aged 30-49 years respectively, It is found that age at effective first marriage has significant direct negative effect 011 fertility for both the cohorts, Total effect of female education 011 fertility is observed to be negative while the total effects of religion and place of residence on fertility are found to be positive for both the age cohorts of women,