Foundation University Journal of Business & Economics

Convenience, opportunities, risks and challenges of IoT for individual and business consumers: Systematic literature review from 2010 to 2022

Tanzeela Tanzeela — 2024-02-06

IoT offers control over devices and enables users to have real-time monitoring, increased efficiency, and reduced energy costs. As the technology is in its infancy stage, there are several domains that need to be studied. Researchers have made contributions to analyze the key aspects of IoT, including its usage, benefits, risks, and requirement for technological infrastructure. Furthermore, studies were conducted from the consumer’s perspective, aiming to know their preferences and adoption behaviors. This systematic review of literature, based on previous studies from 2010 to 2022, aims to enrich literature while presenting a comprehensive and detailed review of 42 articles from 43 journals and international conferences. The reviewed articles have been selected from databases including Scopus, Web of Science, and Science Direct. The theory development, characteristics, context, and methodology framework (TCCM) has been used to examine these four aspects in consumer behavior regarding IoT devices. The review presents an overview of research in this area and also presents future research directions to spur scholarly research. The research’s contribution to academia and industry is that it provides useful information regarding key aspects of IoT while suggesting new ways for further improvements. The research provides key insights to the IoT industry and how they can overcome product and adoption-related challenges.

The role of Satisfaction predictors in determining Revisit Intentions of patients in Private Health Institutions of Pakistan

Ahmad Waheed Akhtar — 2024-02-06

This study is conducted to investigate the relationship of patient satisfaction with service quality and revisit intention of patients in private hospitals of Pakistan. The research was conducted by quantitative and cross-sectional survey-based method, where 334 responses were collected through convenience sampling technique from patients and attendants visiting the private hospitals in Pakistan. The data was analysed using SEM-PLS. Results revealed that patient satisfaction levels mediate the relationship between service quality parameters and revisit intentions of patients in private healthcare sector of Pakistan. This study contributes in helping the healthcare policy makers in adopting patient-centric structures for betterment of their service quality and enhancing patient satisfaction, eventually increasing the revisit intentions.

Effectiveness of Green Supply Chain in Operations Management; Past Research and Future Agenda

Laraib Mumtaz — 2024-02-06

The study aims to study the effectiveness of green supply chain in operations management and its impacts on organizational and environmental performances. An in-depth qualitative study approach was used by analyzing different research articles, how organizations can effectively use green supply chain in operations management. The findings of the study reveal that green supply chain increases the effectiveness of organizational and operational performance by introducing the sustainable products. Furthermore, the study advances the understanding of green supply chain management and its application to operations management. Organizations may enhance their supply chain strategy and their environmental performance by considering the efficacy of sustainable practices, which will provide them a competitive edge. The findings also shows that organization’s may develop a more responsible and resilient supply chain by coordinating operations with sustainability goals, which will benefit not just their bottom line but also the environment and society at large.

Business Group’s Performance: Market and Non-Market Measures in Pakistan

Saher Touqeer — 2024-05-16

This study examines the influence of market and non-market strategies on the financial performance of firms affiliated with business groups. The study analyzed 136 non-financial firms affiliated with business groups, listed on the Pakistan Stock Exchange for the period 2010 to 2020. Market strategies focused on firm related resources diversification, financial constraints and internal capital generation rate. Whereas, non-market strategies focused on political connections and corporate social responsibility. Using fixed effect panel regression model, we found that for business-group firms, both market and non-market strategies significantly increase financial performance. Diversification, financial constraints and internal capital generation drive market success, while political connections and strong corporate social responsibility contribute through non-market measures. This suggested that business group affiliated firms should carefully choose a mix of market and non-market resources for optimal performance. This is also suggested that regulatory authorities shall introduce such policies that smoothen the business operations and encourage managers of affiliated firms to employ more combinations of market and non-market resources to get competitive advantage and promote responsible business practices within the groups.

Exploring Ethical Issues in Pharmaceutical Marketing’s Strategies: A Critical Marketing Perspective

Dr Fazle Malik — 2024-02-06

This study empirically explores the ethical issues with pharmaceutical marketing, which acts as a transgressor to increase inappropriate prescriptions from physicians. Marketing is used to safeguard the interests of shareholders and indoctrinate materialism in target audiences. The inquiry aims to critically examine the marketing strategies and make some drastic changes to put them on humanistic lines to produce salutary benefits to society and the public health sector. The inquirers deploy qualitative methods to scientifically understand the behaviors of marketers and physicians. They used the stratified purposive sampling technique to get data from those who had it. The constructivist grounded theory is used as a strategy of inquiry to explore the different concepts and ideas that are interconnected to form a social phenomenon. They conducted ten in-depth interviews with the selected samples. The researchers developed categories through initial coding and established relationships among them through axial coding. The analysis and interpretation of data produce a single theme, "Deceptive Marketing Strategies," which has two main categories. Each of them has three sub-categories: (unnecessary prescriptions, drug incentivization, unethical practices) and (non-adherence to clinical practice guidelines, physicians’ materialistic approach, and indiscriminate use of antibiotics) respectively. The consequence of these unethical practices is the emergence of antibiotic resistance. The study found transgressions in pharmaceutical marketing and its deceitful and unscrupulous promotional strategies, which have a compounding effect on the misuse and abuse of pharmaceuticals.

Institutional Quality and Digitalization's Role in Attaining Sustainable Development: Study of G-8 & SAARC Countries

Muhammad Zafar — 2024-02-06

The importance of Institutional Quality and Digitalization in sustainable development has led to increased academic research. This study aims to investigate the relationship between Institutional Quality, digitalization, and sustainable development in SAARC and G8 countries. A sample of SAARC and G8 countries was selected for a nineteen-year period from 2004 to 2021. Digitalization is measured through Digital Innovation, E-Governance, ICT Exports, and Internet Users. Panel Regression was used for the analysis. The findings suggest that Institutional Quality and digitalization are crucial factors in achieving sustainable development and that G8 countries have higher levels of Institutional Quality and digitalization than SAARC countries. The study concludes with recommendations for policymakers to efficiently improve institutional quality and digitalization for achieving sustainable development.

Analyzing the Push Factors of Brain Drain in Pakistan

Syed Azizullah — 2024-02-06

Brain drain is the emigration of skilled labor from the home country to the host country due to socioeconomic and political factors. This study focuses on push factors responsible for brain drain to twenty-seven destination countries from Pakistan. The study uses the annual time series data from the year 1976 to the year 2020. The theoretical framework for this study is based on the Neoclassical Theory of Migration and the Push-Pull Theory of Migration. The independent variables of the study are investment expenditure, political stability, real effective exchange rate, unemployment rate, and wage differential. Data is collected from World Governance Indicators, 2022, and World Development Indicators, 2022. According to the Augmented Dickey Fuller (ADF) test, all the variables are stationary at first difference. According to the results of co-integration test, investment and real effective exchange rate have negative insignificant effects, while political stability has negative significant impact; unemployment and wage differential have positive significant effects on brain drain from Pakistan. The long run results of brain drain model are in line with economic theory and supported by earlier studies. The results of this study suggest that in order to handle the issue of brain drain in Pakistan, a policy directive may be developed to address unemployment, exchange rate management, and the poor environment for investment. This will ensure that the skilled workforce is used domestically, which will improve the country's economy as a whole.

Triple-A Paradigm: Examining its Role in Shaping Sustainable Performance

Sonia Nazeer — 2024-02-06

This study investigates the impact of the Triple-A Paradigm—comprising Technology Adoption (AD), Agility (AG), and Alignment (AL) on Sustainable Performance (SP) in the aviation sector. Utilizing a robust empirical approach, employing SmartPls analysis, the research establishes a significant positive relationship between each dimension of the Triple-A Paradigm and Sustainable Performance. The data was collected through a questionnaire survey from 163 aviation management professionals and the findings reveal that advanced technology adoption, organizational agility, and strategic alignment positively contribute to sustainable practices within the aviation industry. The study's outcomes provide valuable insights for aviation industry stakeholders and suggest strategic imperatives for enhancing sustainable performance in a dynamically evolving sector.

ENIGMA OF INFLATION TARGETING POLICIES IN PAKISTAN

Sami Ullah — 2024-02-06

Inflation targeting has been an effective strategy during the past few decades to curb inflation, stimulate economic growth, and check unemployment. This study focuses on the long-term relationship between interest rates and inflation to evaluate inflation targeting as a monetary framework in Pakistan by using annual time series data for the years 1980 to 2020 to explore problems with inflation targeting. In this study, inflation is the dependent variable, whereas the interest rate, domestic debt, indirect tax revenue, and political stability are independent variables. To assess the long-run co-integration analysis, the Johansen co-integration approach has been employed for the data analysis of the developed model. It is concluded from the findings of the co-integration analysis that interest rates, domestic debt, and political stability have a significant and negative impact on inflation, whereas the impact of indirect tax revenue on inflation is positive and significant, supporting the formulated hypothesis. The results suggest that the government and decision-makers may develop strategies to manage and control interest rates, effectively regulate domestic debt, and reform the tax system in order to limit inflation in the country. The most important factor in ensuring the country's economic stability is the preservation of political stability.

The Influence of Augmented Reality on Consumer Attitudes and Adoption Intent: Exploring Aesthetics, Playfulness, Utility and Trust

Muhammad Usman Mumtaz — 2024-02-06

Global consumer-brand relationships are undergoing significant transformations due to technological advancements. Immersive technologies, particularly Augmented Reality (AR), are increasingly indispensable for enhancing the consumer shopping journey. Employing Partial Least Squares Structural Equation Modelling (PLS SEM), the study utilized a sample size of 178 for analysis. The findings reveal a notable willingness among consumers in Pakistan to embrace AR technology. Furthermore, the study predicts that key AR attributes such as aesthetics, playfulness, and utility have the potential to elevate the traditional shopping experience into a more engaging and immersive one. These AR characteristics exert a positive influence on consumer attitudes, which are pivotal indicators for increased sales, market share, consumer satisfaction, and loyalty. Consequently, the research underscores the allure and feasibility of novel shopping experiences with AR technology for Pakistani users.