i-manager's Journal on Economics & Commerce (JECOM)


Volume 4 Issue 1 January - April 2024

Research Article

India Desperately Needs Synergy between University and Industry to make Education Globally Competitive

Naik B. M.*
Shri Guru Gobind Singhji Institute of Engineering and Technology (SGGSIET), Maharashtra, India.
Naik, B. M. (2024). India Desperately Needs Synergy between University and Industry to make Education Globally Competitive. i-manager's Journal on Economics & Commerce, 4(1), 1-11. https://doi.org/10.26634/jecom.4.1.20988

Abstract

This paper presents the brief need and importance of synergy between higher and technical education and industry. A win-win game between industry and institute is very essential in raising their respective performances to greater heights. If synergy is achieved, then higher and technical education in India can hope to become globally competitive. India can then become a hub of education to attract students from abroad, as desired by the government. Synergy will also enable Indian industry to be competitive by world standards and enable India to become a developed country with a high rank in the world. NEP-2020 recommends synergy between the university and industry. In the past, many conferences and seminars in India have taken place, but the progress has been rather slow. This paper makes suggestions to bring synergy into practice. This paper is based on observations made during personal visits to several universities in developed countries, like the USA, UK, Germany, and India.

Research Paper

Ubiquitous Learning and Synergy: Innovating Vocational Education in Skilled Trades and Culinary Arts, to Fulfil United Nations Sustainable Development Goals

Venkatesh S. Amin* , Padmanabha C. H.**
*-** Srinivas Group of Colleges, Institute of Management and Commerce, Karnataka, India.
Amin, V. S., and Padmanabha, C. H. (2024). Ubiquitous Learning and Synergy: Innovating Vocational Education in Skilled Trades and Culinary Arts, to Fulfil United Nations Sustainable Development Goals. i-manager's Journal on Economics & Commerce, 4(1), 12-17. https://doi.org/10.26634/jecom.4.1.20896

Abstract

This paper examines the transformative role of ubiquitous learning and synergistic teaching methodologies in innovating vocational education within skilled trades and culinary arts. As the demand for skilled professionals grows, integrating these innovative approaches reshapes educational environments, making learning more accessible and engaging. Ubiquitous learning facilitates continuous access to resources through technology, enabling personalized and selfpaced education.The objectives of this paper, framed through Bloom's Taxonomy, include identifying the core components of these methodologies and explaining their distinctions from traditional methods. Additionally, it aims to demonstrate practical applications, analyze their benefits and challenges, propose a model curriculum, and assess their effectiveness in improving educational outcomes. This paper highlights how these paradigms make vocational education more accessible, engaging, and effective, ultimately preparing the next generation of skilled professionals and chefs for success in an ever-changing world. Through case studies and expert insights, this paper demonstrates the tangible benefits of embracing ubiquitous learning and synergistic methodologies in vocational training.

Research Paper

An Empirical Analysis of the Dynamics of Tax Revenue Determinants in Kenya: A Longitudinal Approach

Otieno Benard*
Department of Economics, University of Kerala, India.
Benard, O. (2024). An Empirical Analysis of the Dynamics of Tax Revenue Determinants in Kenya: A Longitudinal Approach. i-manager's Journal on Economics & Commerce, 4(1), 18-30. https://doi.org/10.26634/jecom.4.1.20946

Abstract

The volatility of tax income poses a significant challenge for Sub-Saharan African countries, contributing to erratic public spending and hindering sustainable economic progress. Recent global economic crises have underscored the urgency for these nations to bolster local revenue sources and overcome structural barriers to economic development. This paper examines the factors influencing tax revenue in Kenya over 39 years, from 1984 to 2022. Utilizing data from various sources, including the World Bank's World Development Indicators (WDI), the Kenya Revenue Authority (KRA), the Central Bank of Kenya (CBK), and the Organization for Economic Co-operation and Development (OECD), the study employs an autoregressive distributed lag (ARDL) model to distinguish long-run relationships from short-run dynamics due to the mixed order of integration among variables. The empirical model includes real GDP, agricultural gross value added, general government expenditure, inflation, consumer price, official development assistance, and industrial gross value added as key determinants. The ARDL bounds test confirms a long-term equilibrium. The connection between the variables and the error correction model indicates a relatively quick adjustment process, with around 25% of disequilibrium corrected within a single period. Results from the long-run ARDL estimation suggest that agricultural value added significantly increases tax revenue. In contrast, variables such as GDP and government expenditure do not show a significant long-term effect. In the short run, the lagged tax-to-GDP ratio and GDP significantly impact tax revenue. These findings underscore the importance of agricultural productivity and provide valuable insights for policymakers seeking to enhance tax revenue in Kenya.

Research Paper

Analysis of Challenges Faced by Procurement of Goods, Work and Services using Centralized Procurement: The Case of a Five-Star Hotel in Malawi - Umodzi Park & Resorts

Peter Namakhwa*
DMI St. Eugene University, Chibombo, Zambia.
Namakhwa, P. (2024). Analysis of Challenges Faced by Procurement of Goods, Work and Services using Centralized Procurement: The Case of a Five-Star Hotel in Malawi - Umodzi Park & Resorts. i-manager's Journal on Economics & Commerce, 4(1), 31-44. https://doi.org/10.26634/jecom.4.1.20511

Abstract

The research questions in this paper seek to address the challenges faced by Umodzi Park & Resorts in their centralized procurement system in order to bring efficiency and effectiveness to their day-to-day operations. This paper used empirical and explanatory research methods, which included the collection of primary data through a questionnaire, interviews with procurement personnel, and observations from procurement documents that provided the guidelines and process of procurement. A secondary source of data comes from written and electronic sources. This survey looks at the effectiveness of the centralized procurement system at Umodzi Park & Resorts by comparing the centralized model to the decentralized model and the centralized model to the combined centralized and decentralized models. The sampling type used is quota sampling, which only works with procurement personnel from the head office and its other two branches in Malawi. This study concludes with a recommended combined system of centralized and decentralized procurement and guidelines to follow for a successful procurement system.

Review Paper

Intellectual Property Rights

Rehan Haider* , Asghar Mehdi**, Geetha Kumari Das***
* Department of Pharmacy, University of Karachi, Pakistan.
** Department of Pharmacology, Fazaia Ruth Pfau Medical College (FRPMC), Air University, Karachi, Pakistan.
*** OPJS University, Rajasthan, India.
Haider, R., Mehdi, A., and Das, G. K. (2024). Intellectual Property Rights. i-manager's Journal on Economics & Commerce, 4(1), 45-55. https://doi.org/10.26634/jecom.4.1.20931

Abstract

This paper explores the complex relationship between drug patents and access to medicine, highlighting the implications for public health and innovation. Patents play a crucial role in incentivizing pharmaceutical innovation by granting exclusive rights to inventors for a limited period of time. However, the monopolistic nature of patents can hinder access to essential medicines, especially in developing countries where affordability is a significant barrier. This paper examines the balance between fostering innovation and ensuring affordable access to medication, emphasizing the tension between patent care and public health objectives. Key issues discussed include the impact of patents on drug pricing, the role of generic competition in lowering prices, and the strategies employed by pharmaceutical companies to extend patent protection. The paper also discusses the role of international trade agreements and intellectual property laws in shaping access to medicine, focusing on the flexibilities in compulsory licensing and parallel imports. Through a review of case studies and empirical evidence, this paper evaluates the impact of various policy interventions designed to reconcile patent rights with public health priorities. These include initiatives to promote technology transfer, strengthen generic competition, and enhance regulatory frameworks for patent examination and enforcement. The paper also considers the importance of balancing incentives for innovation with safeguards against abuse. This ensures equitable access to medicines for all.