INFLUENCE OF INTERNAL CONTROLS ON FINANCIAL PERFROMANCE OF DAIRY COOPERATIVE SOCIETIES IN MERU COUNTY, KENYA

Internal control systems have been a challenge to the performance of Dairy Cooperative Societies in Kenya. Incidences of total disregard to rules and procedures, adherence to cooperative management regulations have been on the rise. The ability of the management to adhere to the internal controls systems is of importance and it’s bound to affect the financial performance of the societies. The purpose of this study was to determine influence of internal control on financial performance of Dairy Cooperative Societies. The study was restricted to Dairy Cooperative Societies licensed to operate in Meru County. . The study adopted a descriptive research design and made use of purposive sampling to generate a sample of 72 respondents. A questionnaire was utilized to collect data from the respondents. Data was analyzed and evaluated through the use of descriptive statistics; standard deviation, mean and percentages, and made use of ordinary linear regression models to generate the size of effects of independent variables on the dependent variable. Analyzed data was presented in tables and pie charts. The response rate of the administered questionnaires stood at 88.88%. This response rate was found to be sufficient for inferential statistical analysis. The coefficient of determination indicated that internal control contributed 65.7% of the variation in financial performance as explained by coefficient of determination which stood at 0.657. The p-value and regression coefficient internal control generated after running the regression model was (β= 0.232, p = 0.026). These results indicate that internal controls positively and significantly influenced the financial performance of Dairy Cooperative Societies in Meru County. This study therefore, recommends the implementation of internal control mechanisms in all Dairy Cooperative Societies in Meru County.

Trading Emerging Technologies: Export Controls Meet Reality

“Emerging technologies” and the growing inventory of their dual-use applications increasingly challenge policymakers with how to balance technological development, economic competitiveness, and national security priorities. While dual-use export control regulators have always struggled with balancing economic and security interests, emerging technologies are challenging controls systems ill-equipped to define or practically control them. As the most advanced case, the US export control effort is an instructive regarding the challenges of deploying conventional controls over defining and controlling rapidly developing technology sets. This article reviews the US case in light of the current challenges posed by emerging and foundational technologies.

The role of corporate culture and ethical environment in directing individuals’ behavior

This study is aimed at verifying the conception that a strong corporate culture supported with a positive ethical environment is central for directing and guiding the behavior of individuals toward achieving organizational objectives. The rationale for this study stems from the circumstance that formal controls systems suffer from consecutive failures, as the performance of organizations is still suffering from financial collapses. Reasons behind such failures might be related to the insufficient appreciation of the culture-based controls given that formal controls are influenced by the human nature of employees and the affixed moral side.Data subject to analysis are obtained from a judgmental sampling method using a self-completion questionnaire covering the listed companies at Jordan Securities Commission. A factor analysis and a standard multiple regression analysis have been conducted with the aim of proving the hypotheses of the research. The research results show that strong corporate culture supported with a positive ethical environment can direct the behavior of employees for the good of organizations. Results also support the importance of involvement of top management considering its role in filling the gap between the embraced and the workable values and beliefs of an entity.

Introduction to quantitative engineering design methods via controls engineering

Functional modeling is an effective method of depicting products in the design process. Using this approach, product architecture, concept generation, and physical modeling all contribute to the design process to generate a result full of quality and functionality. The functional basis approach provides taxonomy of uniform vocabulary to produce function structures with consistent functions (verbs) and flows (nouns). Material and energy flows dominate function structures in the mechanical engineering domain with only a small percentage including signal flows. Research suggests that the signal flow gap is due to the requirement of “carrier” flows of either material or energy to transport the signals between functions. This research suggests that incorporating controls engineering methodologies may increase the number of signal flows in function structures. We show correlations between the functional modeling and controls engineering in four facets: schematic similarities, performance matching through flows, mathematical function creation using bond graphs, and isomorphic matching of the aforementioned characteristics allows for analogical solutions. Controls systems use block diagrams to represent the sequential steps of the system. These block diagrams parallel the function structures of engineering design. Performance metrics between the two domains can be complimentary when decomposed down to nondimensional engineering units. Mathematical functions of the actions in controls systems can resemble the functional basis functions with bond graphs by identifying characteristic behavior of the functions on the flows. Isomorphic matching, using the schematic diagrams, produces analogies based upon similar functionality and target performance metrics. These four similarities bridge the mechanical and electrical domains via the controls domain. We provide concepts and contextualization for the methodology using domain-agnostic examples. We conclude with suggestion of pathways forward for this preliminary research.