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ABSTRACT
Understanding Entrepreneurship and Entrepreneurial Behaviour:
Three-Stage Process Model
Towards a
Debt as a Tool for Monitoring and Controlling Firms in Emerging Economies: The
Kenyan Experience
Samuel O. Onyuma, Thomas K. Cheruiyot and Agatha N. Okumu
ABSTRACT
Given the current financial problems facing most bank and non-bank firms, monitoring
and control of debtors activities becomes very crucial. Based on the concept of
corporate governance, a firms ownership structure and the degree to which such
structures impose monitoring and control determine how a firm is managed and may
reflect on its performance. The diverse and widespread share ownership in developing
economies has resulted in weak monitoring and control by firm shareholders.
Consequently, debt is currently emerging as a strong tool for monitoring and controlling
Kenyan firms. To establish effective, competitive, and sustainable businesses that can
contribute to the welfare of society through wealth, employment and economic
development, effective debt monitoring and collection play a crucial role. This paper
provides a critical analysis of the emerging role of debt as mechanism for monitoring and
controlling debtors. It argues that to continue being in business, the survival of creditors
depends on debt repayment by borrowers, and that without dependable debt-collection,
no amount of supervision or competition can make lenders operate efficiently. Finally, it
suggests important requirements if debt is to critically play a role in corporate governance
of debtors.
Key Words: Corporate governance, Financial System, Credit, Bank stress
The Tourism sector has been a pioneer in adopting new ICTs. It has been by three main
innovation waves: Computer Reservation System in the 1990s. Despite the fact that the
Tourism sector has been a pioneer in the adoption of new ICTs, the adoption of Internet
based e-Business has not been as much receptive globally (OBrien (2004).
This study aims at developing a thesis surrounding the issues that influence the adoption
of Internet based travel reservation technology in Kenya by identifying challenges that
face the adoption of E-Tourism in Kenya. The study was in Nairobi province. Data were
collected using a Questionnaire and a structured Interview schedule. Subjects were
drawn from randomly selected travel agents and tour operators. Interviews were
conducted on KATA and KATO.
The Questionnaire findings indicated that, the organizations highlighted the rate of return,
Language differences globally, integrity of the reservation systems over the Internet,
Over-reliance on Global distribution systems, and competition based on price as the
generic challenges.
However, identified contextual challenges were: The treat of competitors establishing
substitute products and services over the Internet: The lack of legal or regulatory
precedents to regulate the development of e-commerce in Kenya: Local and foreign
competition; Poor Internet connections and bandwidth; and Insecurity concerns over the
Internet.
On the other hand, it is also valuable noting that the interview findings from KATA &
KATO partly complemented major findings from the questionnaire. The identified
challenges were:- Airlines Zero commissioning hence disintermediating the travel
agent; Airlines were using the internet to approach clients upfront; There were
inadequate regulations on Electronic commerce; Customer relationship management
(CRM) over the Internet; Sophisticated tourism product and that; The lack of
standardization in the industry.
A logit regression model was developed to investigate the level of significance of the
explanatory/antecedent variables to the depended variable (transactional use of the
internet). Based on the results of the study, several key recommendations were made to
various institutions so as to counteract with some of the problems noted. A key
recommendation was that Institutions of higher learning, Airlines and GDS providers
should provide induction and educative programmes for Agents, Tour operators, local as
well as foreign travelers on the use of online reservation systems.
Keywords: Internet; E-Tourism; Travel distribution; Online travel; Tourism.
Wildebeest Migration and Tourism Seasonality Pattern and Dynamics in the Mara
Ecosystem, Kenya
Industrial
Abstract
Technology is an essential ingredient in the growth and development of both small and
large firms. It influences the performance of products and processes by way of reducing
costs, improving quality and functionality. Although there are several methods of
acquiring new technology, several studies shows that international trade and direct
foreign investment are the main conduits of technology transfer. Developing countries
have been known to be takers of technology offered by developed countries.
This paper interrogated the appropriates of imported technology especially for small and
micro enterprises (SME). The thesis of this paper is that SME may not fully utilize
technology emanating from developed countries due to inadequate institutional capacities
to support their adaptation and absorption; such as training, research, model
demonstration sites, credit among other constraints; hence the need to develop their own
technologies. This need is even compounded by international policies of protecting
intellectual property rights. This notwithstanding, the government policies have focused
on transfer of technology from developed with minimal policies for domestic technology
development.
Therefore for meaningful domestic technology development to take place there is need to
build capacity of universities and technical institutions to undertake technological
research. More importantly, the role of technical institutions in technological
development especially in the SME sector is paramount; hence the current wave of
upgrading of such institutions to universities may be a blow to domestic technology
development. Similarly, effective and efficient linkages between research institutions
and SME sector need to be in place and lastly a conducive environment for business to
thrive must be created and nourished.