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Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed Changing Sugar Consumption Pattern in Pakistan and Increasing Sugar Industry's Profitability Muhammad Umair Abbasi, Muhammad Sohail, Farooq-E-Azam Cheema, Nadeem A. Syed Talent Management as Success Factor for Organizational Performance: A Case of Pharmaceutical Industry in Pakistan Muhammad Asim, Sohaib uz Zaman, Tayyaba Zarif Implementation of Total Quality Management in Construction Industry: A Pakistan Perspective Sidrat Jilani, Farooq-E-Azam Cheema, Muhammad Asim Exploring Impact of Macro Economic Variables on GDP of Pakistan Muhammad Taqi Financial Appraisal and Analysis of Minerals and Metals Trading Corporation (MMTC) Institute of Business & Technology

Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

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Page 1: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

Imran Umer Chhapra, Asim Mashkoor, Nadeem A. SyedChanging Sugar Consumption Pattern in Pakistan and Increasing Sugar Industry's Profitability

Muhammad Umair Abbasi, Muhammad Sohail, Farooq-E-Azam Cheema, NadeemA. SyedTalent Management as Success Factor for Organizational Performance: A Case ofPharmaceutical Industry in Pakistan

Muhammad Asim, Sohaib uz Zaman, Tayyaba ZarifImplementation of Total Quality Management in Construction Industry: A Pakistan Perspective

Sidrat Jilani, Farooq-E-Azam Cheema, Muhammad AsimExploring Impact of Macro Economic Variables on GDP of Pakistan

Muhammad TaqiFinancial Appraisal and Analysis of Minerals and Metals Trading Corporation (MMTC)

Institute ofBusiness & Technology

Page 2: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

Vol.9, No.1

BIZ

TE

K C

RE

AT

IVE

DIV

ISIO

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Institute of Business & Technology - IBT

Main CampusMain Ibrahim Hydri Road, Korangi Creek, Karachi-75190

UAN: 021-111-428-428, Tel: 021-35091871-3, Fax: 021-35092384Email: [email protected], URL. www.biztek.edu.pk

Shahrah-e-Faisal Campus (EDC)Uzma Plaza, Above Bank Al-Habib, Block 6, PECHS,

Main Shahrah-e-Faisal, Nursery, Karachi.Tel: 021-34301085-8, Fax: 021-34301089

URL. www.biztek.edu.pk

Gulshan CampusOpposite Samdani Hospital, Block 2, Gulshan-e-Iqbal, Karachi.

Tel: 021-34969984-7, Fax: 021-34969988URL. www.biztek.edu.pk

Page 3: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

Board of Governors

Institute of Business & Technology-IBT

Dr. Ishrat ul Ebad Khan PatronGovernor Sindh

Noman Abid Lakhani ChairmanManaging Director, Noman BuildersKarachi

M. Anwar Dawood MemberDirector, Noman Group of CompaniesKarachi

Dr. Adnan Abid Lakhani MemberCEO and ChairmanNoman Abid Investment Management Ltd.Karachi

Javed Khan MemberAdvisor, Higher Education Commission(HEC)Islamabad

Justice Muhammad Ali Mazhar MemberJudge, Sindh High CourtKarachi

Justice (R) Saeed uz Zaman Siddiqui MemberEx-Chief Justice Supreme Court of Pakistan

Muhammad Siddique Memon MemberSecretary Education, Government of SindhKarachi

Mian Abrar Ahmad MemberPresident, Karachi Chamber of Commerce and IndustryKarachi

Dr. Amir Hasan Pathan MemberAdditional Director, State Bank of Pakistan

Dr. Muhammad Ali Siddiqui SecretaryRector, Institute of Business & Technology-Biztek

Page 4: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

Volume 9, Number 1

Spring 2013

Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13Changing Sugar Consumption Pattern in Pakistan and Increasing Sugar Industry's Profitability

Muhammad Umair Abbasi, Muhammad Sohail, Farooq-E-Azam Cheema, Nadeem A.Syed – 14-23

Talent Management as Success Factor for Organizational Performance: A Case ofPharmaceutical Industry in Pakistan

Muhammad Asim, Sohaib uz Zaman, Tayyaba Zarif – 24-39Implementation of Total Quality Management in Construction Industry: A Pakistan Perspective

Sidrat Jilani, Farooq-E-Azam Cheema, Muhammad Asim – 40-48Exploring Impact of Macro Economic Variables on GDP of Pakistan

Muhammad Taqi – 49-66Financial Appraisal and Analysis of Minerals and Metals Trading Corporation (MMTC)

Page 5: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

Author(s) are requested to please carefully read all the instructions before submitting a manuscript to theJournal of Management of Social Sciences (JMSS). Manuscripts not prepared as per below mentionedspecifications may be returned to the author(s) and may experience significant delays in review and timeto publication.

INSTRUCTIONS TO AUTHORS

MANUSCRIPT SUBMISSION

Three hard copies of manuscripts of articles, comments, notes or book-reviews, should be submitted to

The EditorJournal of Information & Communication Technology

Institute of Business and Technology (IBT)Main Ibrahim Hydri Road, Korangi Creek

Karachi-75190 Pakistan

SubmissionsAll manuscripts for the Journal of Information & communication Technology should be submittedelectronically through email to the editor at [email protected]. Manuscripts should be prepared in USEnglish using a word processing (preferably in MS Word) program and saved as a .doc or .rtf file. Theattached file should be named according to the title of your article and it should mention 'Research papersubmission' in the subject of the email. After receiving the research article, acknowledgement will sentwithin a few days after the receipt of the paper.

GUIDELINES FOR AUTHORS

MANUSCRIPT SPECIFICATIONS

Abstract: All manuscripts should contain a well-summarized abstract of 100 to 200 words. This shouldbe in a separate file of the soft copy and a separate page on hard copy.

Title Page: This includes the title of the article, complete name(s) of author(s), active email(s) and institutionalaffiliation(s) respectively and acknowledgements and/or any other special note (if given).

General Format and Style: The manuscripts should be formed in double space, with 1.25-inch marginson all sides on A4 size page. The text as well as footnotes should be written in Times New Roman font ofsize 12 point. Multiple columns shouldn't be used. In case of using special characters or symbols, notavailable in Microsoft Word, or Adobe Acrobat, the true type font(s) files should be attached.

Tables and Figures: Figures, tables and boxes should be numbered consecutively in Arabic numeral, (e.g.;Figure 1, Figure 2, and Table 1, Table 2, etc.). Colorful customized figures and graphs shouldn't be drawnand figures and tables shouldn't be inserted in the main text. Instead, in the space immediately after theparagraph in which the figure or table is first referenced, insert a text tag may be inserted: [Figure 1 here].Softcopy of figures/graphs and tables should be vaccompanied with the soft copy of the manuscript in MicrosoftExcel or any other compatible format, in files separate from the text file(s).

Data and Programming Routines: Data used in the article should be separately provided along with thesoft copy in any standard spreadsheet format. If the manuscript is supported by any econometric computationsor mathematical estimation then the software should be named with version and relevant estimation fileand/or program routines should be sent.

Footnotes: All footnotes should be numbered in Arabic numeral, corresponding to numbers in the text, andplaced at the bottom of the page rather than at end of the manuscript.

Reference List and Citations: Authors are requested to follow the Chicago Style of Manual for referenceand citation and list of references be placed alphabetically by author's last name and then by year. Pleaserefer name of all authors for collecting work and avoid using et al. in lieu of authors' name. Please do notuse abbreviation for name of journals or conference or books. Please clearly mention the website of thecited article or give details regarding an unpublished work not included in proceedings, journals or books.

Contact Us

The EditorJournal of Information & Communication TechnologyInstitute of Business and Technology (IBT)Main Ibrahim Hydri Road, Korangi CreekKarachi-75190 PakistanURL. www.ibt.edu.pkEmail: [email protected]

Page 6: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

Journal of Management and Social Sciences

BOARD OF EDITORS

U A N : 1 1 1 - 4 2 8 - 4 2 8 U R L : w w w . i b t . e d u . p k E - m a i l : i n f o @ i b t . e d u . p k

Abdul Naveed TARIQZaid Ahmed ANSARIMehmood Hussain SHAHBadar Alam IQBALBethel Erastus-OBILOWanida WADEECHAROENS. M. TAHARiwana BASHIRMuhammad ASIMNadeem A. SYEDTayyaba ZARIFFarooq AZIZ

Seneca College of Applied Arts and TechnologyCollege of Business, Rabigh, King Abdulaziz UniversityLancashire Business SchoolAligarh Muslim UniversityUniversity of AtlantaThonburi UniversityUniversity of KarachiBahria UniversityUniversity of KarachiFAST- School of ManagementNewport Institute of Communication & EconomicsFederal Urdu University

CanadaSaudi ArabiaUKIndiaUSAThailandPakistanPakistanPakistanPakistanPakistanPakistan

EditorDr. Farooq - E - Azam Cheema

Associate Editors

Dr. M. Asif KhanSyed Kashif Rafi

JMSS is published by the:

Institute of Business and Technology (IBT)Main Ibrahim Hydri Road, Korangi Creek, Karachi-75190 Pakistan

UAN: (92-21) 111-428-428 FAX: (92-21) 35092384

Shahrah-e-Faisal Campus (EDC)Uzma Plaza, PECHS-6, Above Bank Al-Habib Limited, Main Shahra-e-Faisal, Nursery, Karachi.

Phone:(92-21) 34301085-88 Fax: (92-21) 34301089

Gulshan CampusOpposite Samdani Hospital Allama Shabbir Ahmed Usmani Road. Block 2, Gulshan-e-Iqbal, Karachi.

Tel: (92-21) 34969984-7, Fax: (92-21) 34969988

Editorial AssistantArsalan WastiDuria HassanShuaib Ahmed

Mirza Tariq Rashid BaigCreative Graphic Designer

Manager CirculationMujtaba Passwala

Page 7: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

Journal of Management & Social Sciences

Journal of Management & Social Sciences (JMSS) is an emerging namein Pakistan. JMSS offers a range of services to non-profit organizationsand research-based institutions to promote their products for academicand educational activities. Take advantage of the targeted opportunitiesavailable to reach your market.Academic and non profit research-based goods and services include:

1000500350250

JMSS currently taking orders for:

Main CampusMain Ibrahim Hydri Road, Korangi Creek, Karachi-75190

UAN: 021-111-428-428, Tel: 021-35091871-3, Fax: 021-35092384Email: [email protected]

Shahrah-e-Faisal Campus (EDC)Uzma Plaza, Above Bank Al-Habib, Block 6, PECHS, Main Shahrah-e-Faisal, Nursery, Karachi.

Tel: 021-34301085-8, Fax: 021-34301089, URL. www.ibt.edu.pk

Gulshan CampusOpposite Samdani Hospital, Block 2, Gulshan-e-Iqbal, Karachi.

Tel: 021-34969984-7, Fax: 021-34969988, URL. www.ibt.edu.pk

Journal of Management & Social Sciences

Institute ofBusiness & Technology

Page 8: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

The candidates must haveMaster degree (or at leastminimum 6 years postmatriculation studies inrelevant field)

The Candidates must haveMPhile degree in the subject

Candidates must clear a teston international GRE pattern

Candidates who have passedHEC’s PhD entry test are alsoeligible

Approval of the proposal andits submission to IBT BASR(Board of Advanced Studiesand Research)

Successful complet ioncompulsory course workprogram, spanned one year(three quarters).

Presentation of the proposalin seminar or workshop

Publication of two researcha r t i c l e s i n n a t i o n a l /international journal ofrelevant field.

Approval of the dissertationby two international referees.

Presentation and defence ofthe dissertation in a closedroom viva-voce examination.

Pre Admission to MPhil

Pre EnrolmentPre Qualification Research

Pre Admission to Ph.D

Main Ibrahim Hydri Road, Korangi Creek, Karachi-75190UAN: 111-428-428, Fax: (92-21) 35092384

e-mail: [email protected]

Main Campus

Uzma Plaza, 1st, 2nd & 3rd Floor, Plot No. 20-A/1, Block-6, PECHS, Main Shahra-e-Faisal, Karachi.Phone: 021-34301085-88, Fax: 021-34301089, URL: www.ibt.edu.pk

Shahrah-e-Faisal Campus (EDC)

Gulshan CampusOpposite Samdani Hospital Allama Shabbir Ahmed Usmani Road.

Block2, Gulshan-e-Iqbal, Karachi.Tel: 021- 34969984-7, Fax: 021- 34969988

Institute ofBusiness & Technology

IBT now offers

ManagementMarketingEconomicsSocial Sciences

FinanceHuman ResourceComputer Science

MS / PhD

Institute of Business& Technology (IBT) is leader amongst grauate schools of management in Pakistan and nowlisted as “A” category institute by the Higher Education Commission (HEC). IBT now proudly offers PhD inManagement Sciences, Marketing, Economics, Human Resource, Social Sciences, Finance and Computer Science.

Page 9: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

Journal of Management & Social Sciences (JMSS) is an open access, peer-reviewed and refereedjournal published by Institute of Business & Technology (IBT), Pakistan. The main objective ofJMSS is to provide an intellectual platform for the scholars. JMSS aims to promote interdisciplinarystudies in management and social science.The journal publishes research papers in the fields of management and social science such asmanagement, business studies, communication studies, corporate governance, demography,development studies, economics, education, ethics, industrial relations, information science,finance, marketing, hrm, international relations, law, media studies, methodology, political science,population studies, psychology, public administration, sociology, social welfare and so on.The journal is published in both print and online versions.JMSS publishes original papers, review papers, conceptual framework, analytical and simulationmodels, case studies, empirical research, technical notes, and book reviews.

Topics for submission include but are not limited to:

Main CampusMain Ibrahim Hydri Road, Korangi Creek, Karachi-75190

UAN: 021-111-428-428, Tel: 021-35091871-3, Fax: 021-35092384Email: [email protected]

Shahrah-e-Faisal Campus (EDC)Uzma Plaza, Above Bank Al-Habib, Block 6, PECHS, Main Shahrah-e-Faisal, Nursery, Karachi.

Tel: 021-34301085-8, Fax: 021-34301089, URL. www.ibt.edu.pk

Gulshan CampusOpposite Samdani Hospital, Block 2, Gulshan-e-Iqbal, Karachi.

Tel: 021-34969984-7, Fax: 021-34969988, URL. www.ibt.edu.pk

Institute ofBusiness & Technology

. Business Administration

. Business Ethics

. International Enterprise

. Human resources

. Strategic Marketing

. Logistics

. Supply Chain

. Organizational Behavior

. Information Management

. Restate Management

. Electronic Commerce

. Industry Innovation

. Corporate Governance

. Hospitality Management

. Hotel and Institutional Management

. Health Care Management

. Tourism Management

. E-commerce

. Finance

. Banking

. Investment

. Social Research or Social Science

. Social Policy and Social Legislation

. Caring or Research for the Elderly

. Social Psychology

. HRM

. International Economics

. Online Society or Online Community

. Economics

. Globalization impacts

. Technology or Criminology inSociety or Online Society

. Social Work in Modern Society

. General Psychology

. Experimental Psychology

. Sport Psychology

. Psychological Psychology

. Culture Psychology

. Development Psychology

. Educational Psychology

. School Psychology

Journal of Management & Social Sciences (JMSS)

JMSS is inviting papers for Vol. 9, No. 2 which is scheduled to be published on February 2014. Lastdate of submission: November 2013. However, an early submission will get preference in case ofreview and publication process.Send your manuscript to the editor at [email protected]. For more information, visit the officialwebsite of the journal www.ibt.edu.pk

Page 10: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

The topics suggested below can be discussed in term of concepts, state of theart, research, standards, implementations, running experiments, applications, andindustrial case studies. Scholars are invited to submit original and unpublishedpapers, which are not under review by any other conference or journal. Givenbelow are the list topics on which submissions are sought. However, submissiondoesn't have to be restricted or limited to the given list.

Journal of Information and Communication TechnologyInstitute of Business & Technology - IBT

[email protected]

Main CampusMain Ibrahim Hydri Road, Korangi Creek, Karachi-75190

UAN: 021-111-428-428, Tel: 021-35091871-3, Fax: 021-35092384Email: [email protected]

Shahrah-e-Faisal Campus (EDC)Uzma Plaza, Above Bank Al-Habib, Block 6, PECHS, Main Shahrah-e-Faisal, Nursery, Karachi.

Tel: 021-34301085-8, Fax: 021-34301089, URL. www.ibt.edu.pk

Gulshan CampusOpposite Samdani Hospital, Block 2, Gulshan-e-Iqbal, Karachi.

Tel: 021-34969984-7, Fax: 021-34969988, URL. www.ibt.edu.pk

Institute ofBusiness & Technology

. Software Engineering Issues

. E-Government and E-Commerce

. Model Checking

. Computer Systems & Networks

. Speech & Pattern Recognition

. Semantic Computing & its Integration

. Knowledge Management

. XML and Internet Computing

. Human Computer Interaction

. Multi-agent Systems

. Bioinformatics

. Vision-based applications

. Wired/Wireless Sensor

. Cloud & Green Computing

. Green Computing

. Artificial Intelligence

. Model based Reasoning and Diagnosis

. Computing & Wireless Communications

. Signal Processing

. Automation Including Fuzzy Logic

. Data Mining

. Parallel Processing

. Visual Computing

. Autonomous Agents

. Computational Biology

. Web Programming and Agile Methods

. Web Technologies

. Wireless technology

. Semantic and Social Web

. Cloud Computing

Submissions Date: August 31st 2012More Information Please visit: http://www.biztek.edu.pk/oric_jict.php

Page 11: Institute of Business & Technologyibtjbs.ilmauniversity.edu.pk/journal/jbs/9.1/adds.pdf · Volume 9, Number 1 Spring 2013 Imran Umer Chhapra, Asim Mashkoor, Nadeem A. Syed – 01-13

For the sake of said purpose, the (JMSS) is considerably subsidized not only for Pakistanisubscribers but also for the nationals of LDCs (least developed countries). LDCs includeeconomies annually listed by the World Bank in World Development Indicators (WDI).

The Journal of Management and Social Sciences (JMSS) is published semi annualy(Spring and Autumn) under the aiges of Institute of Business and Technology(IBT)_a non-profit academic institute, recognized by Higher Education Commisions(Govt. of Pakistan) and legislated by Sindh assembly through Act-II of2004. It aims to propagate knowledge and brings forth culture of research.

Main CampusMain Ibrahim Hydri Road, Korangi Creek, Karachi-75190

UAN: 021-111-428-428, Tel: 021-35091871-3, Fax: 021-35092384Email: [email protected], URL. www.ibt.edu.pk

Rs. 1000Rs. 1200Rs. 800Rs. 2000

(e-copy)

(e-copy)

(e-copy)

US$ 70US$ 125US$ 180US$ 280

Institute of Business & Technology (IBT)