Open Access Original Research Article

The Functioning of Human Resource Management Practices as a Correlate of Economic Recession in Manufacturing Sector of the Nigerian Economy

O. Oginni Babalola, O. Olabode Samuel, A. Ojo Afolabi

Journal of Economics, Management and Trade, Page 1-11
DOI: 10.9734/JEMT/2018/35147

Aim: The main aim of the study was to examine the functioning of Human Resources Management Practices during economic recession in the manufacturing sector.

Study Design: Descriptive study through survey of human resources activities during recession documented in the cable industries dated 2013 – 2016.

Place and Duration of Study: Cable industry in Lagos, Nigeria and it was for between September, 2016 – June, 2017

Methodology: The paper made use of primary and secondary data to elicit relevant information on the functioning of HRMP during economic recession with population of 2356 employees from 12 organisations purposively selected (cable, beverage, brewery and diary) in the sector using 342 employees as sample size.

Results: Data obtained were analysed through descriptive and statistical inferences and it was discovered that recruitment, training and promotion are mostly affected during economic recession and that political instability and government policy made recession to linger.

Conclusion: During the recession period the practice is not in pursuit of objectivity but as a strategy to survive the recession because the longer the period of recession, the lower the level of HRMP activities. Employees are further subjected to excessive work load due to restriction on recruitment and promotion thus experiencing job enlargement without commensurate compensation.

Open Access Original Research Article

World Energy Consumption: Regional Differences and Features of Change

Sergey Alexandrovich Surkov, Ellen Grigorjevna Trofimova

Journal of Economics, Management and Trade, Page 1-9
DOI: 10.9734/JEMT/2018/40232

Background: Literary sources contain contradictory information about energy release. Some authors describe the trend of rapid growth of this indicator, others believe that this growth is gradually subsiding

Objective: Authors have considered a problem of worldwide consumption of energy.

Methods: The necessary parameters were determined by data of various literary sources.

Discussion: It is shown that the direct approximation of dependencies of energy release per capita, population size and inhabited territory to calculate the energy release density is inexpedient.

It is established that the energy release density first decreases with time, and then begins to grow.

Conclusion: The main sources of growth are industrialized countries.

Open Access Original Research Article

Organisational Culture and Employee Turnover: Evidence from Ghana

Eric Osei Kwakye

Journal of Economics, Management and Trade, Page 1-11
DOI: 10.9734/JEMT/2018/39062

The study focused on the effects of organizational culture on employee turnover. The paper was limited to the administrative staff of Private Universities in Ghana. The study employed quantitative research design with a convenience sampling technique for the selection of 203 respondents in the study. Correlation and regression analysis were done to test the relationship between the organizational culture and employee turnover as well as their impacts. The study found that Bureaucratic Culture (BC) significantly influences employee turnover (B=. 406; t-test=10.483; p<0.01). Also, the study revealed that Clan Culture (CC) significantly influences employee turnover (B=0.141; t-test=-2.362; p<0.02). Again, it was found from the study that Entrepreneurial Culture has a positive significant effect on employee turnover (B=.679; t-test=-13.154; p<0.01).  Finally, the study revealed that Power Culture (PC), though, has a positive impact, does not significantly influence employee turnover (B=.0519; t-test=-1.184; p>0.05). The study recommended that the management of the organizations should strengthen formality hierarchical rules as they are significant values of bureaucratic culture that influence employee turnover.

Open Access Review Article

The Impact of a Dollar-based Economy on the Hospitality Industry: A Theoretical Explanation and a Research Agenda

Lolonyo Letsa

Journal of Economics, Management and Trade, Page 1-9
DOI: 10.9734/JEMT/2018/37957

The goal of this was to explore and situate the study within a broader context of related researches in relation to impact of dollar-based economy on the hospitality sector. In order to accomplish this goal, this study has been organized in nine sections: the hospitality industry, challenges facing the hospitality industry, demands in the hospitality industry, competitiveness in the hospitality industry, relationship between hospitality; tourism and economic growth, dollar based economies, dollarization of different economies, impact of economy on hospitality industry, economic performance of hospitality industry.

Open Access Review Article

Patenting and Technology Entrepreneurship in Nigeria: Issues, Challenges and Strategic Options

Adesina A. Oyewale, Caleb M. Adelowo, Moses C. Ekperiware

Journal of Economics, Management and Trade, Page 1-14
DOI: 10.9734/JEMT/2018/34723

Patent is a useful indicator of scientific outputs and techno-economic activities of countries. It is used to foster linkages between research and industrial organisations in an economy. However, it has not been adequately utilised by several developing countries in Africa, including Nigeria. Commercialisation of research results could be done through diverse means including technology licensing and spin-off activities. Nevertheless, Nigeria with several universities and research institutes has developed few inventions without deriving much benefit from them. This could be as a result of low investment in innovation infrastructure such as technology incubators and science parks, and low patent culture among researchers. The commercialisation process is also impeded by lack of venture capital, poor entrepreneurship culture among researchers, and poor linkage among the elements of National Innovation System (NIS). This article proposes deliberate efforts by the government to create platforms for interaction between research institutions and industries through science parks, technology incubators and increased venture fund. It is concluded that full implementation of the new science, technology and innovation policy is a necessary condition for addressing innovation gap and the challenges of technology commercialisation in Nigeria.