International Journal of Economics & Management Sciences

Complexity of Information system is very subjective and affected by many variations of peoples, tools and processes. Any small variation of the components that form system complexity results in major changes in the intended outcome. It is also seen that one single approach of complexity vs. simplicity does not suffice. This paper will discuss complexity theory and its components. Moreover, different method will be suggested to reduce information system complexity and simplifying its process.

Inflation targeting (IT) influences advanced and developing economies differently. Conducting graphical and econometric analysis the IT effectiveness in these two groups of countries was studied. Also the supposition about third-party factors that caused global disinflation was made. The article provides some explanation why some factors (institutional, economic and financial), distinguishing advanced and developing economies, reduce the effectiveness of the IT regime or even worsen some macroeconomic indicators due to IT implementation. Highlights • Slowdown of global inflation had begun before the IT was introduced by pioneer countries. • Advanced economies achieved basically positive results from IT in terms of inflation. Developing economies mostly were not prepared – there were no impact on inflation. • Employment was harmed (!) in both country groups and particularly in developing economies.

The emerging technology has made an exponential growth of the internet which has changed the pattern of organizations performing their business with customers. The banking industry is no exception. In order to gain competitiveness, banks have been introducing more internet banking services. Managing effective customer satisfaction strategies are increasingly important in the banking industry. Since the length in years of customer relationships are one of the most important factors that contribute to the profitability. The presence of switching costs can mean that customers who are actually dissatisfied, but do not defect because of high switching costs. As a result, switching cost may be one important driver of customer satisfaction. The results of the statistical analysis showed that there were specific factors of the switching cost such as service, accessibility, technology, benefits and risky were in the higher level and level of customer satisfaction also in the higher for internet banking services. Further, there was moderate positive relationship between switching cost and customer satisfaction also identified. Finally, there was a significant impact of the switching cost on customer satisfaction identified. Therefore, these findings will help the banks to establish a customer oriented strategy to satisfy and survive their customers with regard to internet banking services in future.

This study is aimed at to contribute a detailed systematic review on research paradigms, sampling and instrument development issues in the field of business research. This study has reconnoitered the levels of theory and their implications in academic literature. With accession to this the methods of quantitative and qualitative research have been discussed. The main contribution of this study was to explore the sampling size issues. A meticulous review has bared the exact sample size that is supported by different researchers. In line with measurement scale has also been discussed based on previous literature support. Finally, the problems faced during scale development and items generation are discussed in detail.

The contextualization of this paper is to review the changing world order on global resources and sociocultural shifts that would augur a global economy which would grow twice its size by 2050. It is now estimated that population data would be stripped. India’s economy is rivalling that of China and the US, while Fusion power is nearing commercial availability, “Energy Islands” shall remain widespread along with Deep ocean mining. The transformation in technology means virtual telepathy is dominating personal communications, while Biorepository and genomic information systems are transforming healthcare. So, would Claytronics revolutionize consumer products along with breakthroughs in carbon nanotube production? With a global population expected to reach 9 billion, Orbital Solar Power is commercially feasible. Robots shall become a common feature of homes and workplace. With the emergence of AI, personnel costs have shifted from operations, maintenance and training, to design and development. Machines can perform repairs in-flight (including the use of "self-healing" nanotechnology composites) while routine ground maintenance requires little or no human labor, being done mostly by robots. New tactics and information can simply be programmed into the aircraft, or they can "learn" from others in the swarm.

Insurance is a touchstone of a nation’s level of civilization. The life insurance principle now comes to be more and more useful with the passage of time. In other words, insurance is a great source of development of national savings. This is the law of nature that individuals need to live and play with perils and to some degree insurance policy can free individuals from those disappointments. Regardless of the possibility that this is true, people of Bangladesh still don't like to insure them. The present study was intended to quantify the people’s attitude toward life insurance. The study, descriptive in nature, has been conducted based on primary and secondary information. The study has been piloted among 100 respondents in the Rangpur city in Bangladesh. The study survey has been incorporated 15 attitude question questions outlined under seven (7) point semantic differential scale. The gathered information has been analyzed by using frequency distribution through the SPSS 20.0 version. The study also shows that 80% respondents are aware of Life Insurance and 20% are not aware of Life Insurance. 75% respondents believed that life insurance is necessary for every people and it provides the financial support in their life. 30% respondents know the information about Life Insurance from an agent and 10% respondents are known information from Media and 53.3% respondents are known from friends or relatives. Mass communication helps to create awareness among the people with respect to taking an insurance policy strategy. This study will become helpful for the improvement of insurance in Bangladesh.

This study is demonstrated Reverse Logistics (RL) in Food Processing Industries. Reverse Logistics (RL) is the process of backward flow of moving goods for the purpose of capturing value, proper disposal, remanufacturing and refurbishing activities. Reverse Logistics (RL) is emerging trend in Supply Chain Management to gain more competitive advantage in terms of their value, profitability, sustainability and provide additional advantage in any type of industry. The Reverse Logistics (RL) practices adapted in manufacturing industries to reduce wastage and reuse. Food Processing sector possess high growth for the past ten years. As well as Food Processing industries are going to concern, food loss is high. Carbon emission, environmental degradation and greenhouse gas are some effect of food loss, if they are not properly disposed to environment. By applying the Reverse Logistics Practices in Food Processing Industries will help to manage the future demand as well as save the environment. Here, the model is proposed for Reverse Logistics with the consideration and possible factors which can be applicable in India. In that model, stages of Reverse Logistics (RL), drivers and process are discussed. From that the benefits are pointed out.

Exchange rate is an important factor to bring change in trade balance of any country. In this study the true relationship that is nonlinear; have been examined empirically between trade balance and real exchange rate for Pakistan vs. USA. By using monthly data (1980m1 to 2014m2) linear and nonlinear models are estimated by using Johansen cointegration technique (1988). The negative sign of RER2 confirms the nonlinear relationship in case of bilateral trade between these two countries. Existence J-curve in case of Pakistan has been confirmed by long run and short run results, as in long run exchange rate improves the trade balance but in short run it depreciated Hussain and Bashir and Magee. Finally the nonlinear model showed better forecast performance examined by RMSE and MAE.

Today’s most widely known market theory was developed based on the principles of the Scottish School led by Adam Smith, who “In several respects… diverted economy from its fair course, the one represented by the continental tradition commenced by medieval and late scholastics… leading economy to a very different path…”, says Murray N Rothbard. This “continental tradition” was developed by a group of famous Thomists, mostly Jesuits and some Dominicans, many of whom were professors of Moral and Theology at the University of Salamanca. Nobel Prize in Economics Friedrich Hayek assured that “the basic principles of the market theory… were established by the sixteenth century Spanish Scholastics”. All the same, “economy” was not intended to be a science, but was derived from moral: the study of human behavior – in the market – within the pre-existing natural order. But then rationalism – as to all other “sciences” – diverted the issue to a rational construction and granted economy the status of autonomous “science” for it was created by human reason independently from pre-existing order. Such “independence” implies two features: it does not occur spontaneously since it does not respond to the nature of things and, therefore, must be coercively imposed and, logically, ignores the real authority, which is moral authority, since it considers itself “free”. Therefore, we will attempt to return to the origins -as I’ve tried in my late book “Cómo ser ricos y felices”-, to the natural market, i.e. the market of the natural order.

In this paper we analyze social stratification and residential segregation in the context of the Haidian district in Beijing, China’s capital. We start looking at the multiple theories created by scholars to explain social stratification and residential segregation, as well as the interplay between them. Then we explain the methodology for a study to quantitatively measure the impact of these two characteristics in Haidian’s society. In order to perform these studies, for the macro level we will analyze official data on the overall urbanization process, including a historical analysis, a quantitative measurement of segregation applied to multiple districts, and the map visualization of factors that can cause residential segregation. For the middle level we will use a survey targeted at individuals from different socio-economic backgrounds. And for the micro level we will also personally interview people in high-income and low-income neighbourhoods to understand their relationships with individuals from a different social class and their personal view of society.