International Journal of Experiential Learning & Case Studies <p>International Journal of Experiential Learning &amp; Case Studies (IJELCS) ISSN 2521-9359 (Online), ISSN 2520-4475 (Print) provides an innovative conceptual framework for consideration of industry managers, corporate sector strategists, and decision makers and starves to be the basis for a collaborative dialogue and discussions between industry and academia. The key objective of the journal is to contribute significantly to the teaching and learning by using business management related case studies and industry specific research articles.</p> <p>IJELCS is a double blind peer-reviewed journal edited by the Institute of Business Management (IoBM), Karachi, Pakistan. The Journal is an academic resource of industry related case studies and research articles which are the outcome of experiential learning and evidence based exercises by academicians and corporate managers. It is a blend of quality researches on experiential learning and a diverse set of case studies pertaining to different business disciplines covering strategic marketing, strategic management, organizational behavior, human resource management, finance &amp; accounting, business ethics, entrepreneurship, economics and other related functional areas.</p> <p><strong>Article Processing Charge: </strong>There is no cost attached to the publication in IJELCS, at any point in time, during or after the publication process.</p> <p><strong>Peer Review Policy: </strong>All research articles published in IJELCS go through an initial editor screening followed by a rigorous double-blind peer review by two anonymous referees.</p> <p><strong>Preservation: </strong>Journal content is preserved at PKP PN.</p> en-US (Nawaz Ahmad) (Dania Shoaib Khan) Wed, 30 Dec 2020 00:00:00 +0000 OJS 60 COVID-19 and the related accounting considerations in preparing financial statements and disclosure requirements. <p><em>The purpose of this case study is to examine the impacts of COVID-19 on financial reporting from the different view sides of IFRS disclosure requirements. Most of the countries in the world carrying the effects of COVID-19 and nearly a quarter of the population is quarantined and most of the business is in lockdown condition. As a result of the businesses working online as well as change their pattern of operations due to COVID-19 pandemic. The government also imposes legislation related to it and there must be significant changes in IFRS implication concerning pandemic to improve the situation in all the way. A questionnaire has been prepared and send to the concerned officials of the company in the subject here to ascertain the facts related to the implications of IFRS adoption in the current period of the pandemic. The questionnaire covers around 31 aspects related to disclosures as per IFRS and the study here analyzes how Unilever Pakistan Limited adopted these changes or in which areas still following the same policy without impacting COVID-19.&nbsp;&nbsp; </em></p> Ghias Khan Copyright (c) 2020 International Journal of Experiential Learning & Case Studies Wed, 30 Dec 2020 00:00:00 +0000 Challenges of Pakistani Pharmaceutical Industry: Pakistan Case <p>The population of Pakistan is fast growing and the need for supply of medicine will continue to increase. The local pharmaceutical market is growing at a faster pace as compared with the international market. Until 1990, the reliance on the supply of medicine to cater to the national demand was on multinational companies holding major market share. Thereafter, the national pharmaceutical companies started investing to improve the quality of their product lines, employing qualif ied professionals, and ensuring compliance with the global standard of quality and good manufacturing practices. Consequently, national com-<br />panies' market share drastically increased and the national demand for medicine is locally produced. The study results based on interviews of key stakeholders and available literature revealed that the local pharmaceutical sector is facing critical challenges of counterfeit medicine, pricing controversies, affordability of the medicine, lack of Research and Development (R&amp;D) initiatives, and unethical marketing (bribing/cash incentives to the doctors). The Drug Regulatory Authority of Pakistan (DRAP) seems ineffective to overcome these challenges, eliminate counterfeit medicines, and take measures to curb the unethical marketing practices that are risking patient life, health, and treatment cost. The study further explored that unethical marketing practices, and prescribing expensive brands by doctors, creates a serious conflict of interests and fast a decline in patient trust and affordability of medicine cost. Thus strong regulatory controls,transparency, moral and ethical values are needed to enforce drug acts and make the stakeholder's groups accountable. There is a need to punish both the companies bribing the doctors on the pretext of product promotion and doctors accepting such benef its to protect the patient's interest and limit treatment cost. Strict regulations and incentive plans for the pharmaceutical sector are needed to promote Research and Development (R&amp;D).</p> Kazi Afaq Ahmed, Seema Chandani Copyright (c) 2020 International Journal of Experiential Learning & Case Studies Wed, 30 Dec 2020 00:00:00 +0000 Bays International Private Limited: Evolving Through Market Dynamics <p>Bays International was incorporated in 1996. Over the years it faced numerous challenges including: high employee turnover (particulary saleforce), limited expansion capabilities, low penetration in semi-urban markets, high operating expenses like rentals, increasing duties (on luxury products), low cash-flows, low budgets for advertising and marketing as compared to competitors, less awareness amongst consumers, volatile consumer preferences (especially by millennial), weak brands’ loyalties, counterfeits/fake products, smuggling and infiltration from grey channels, high number of foreign and local chains entering the market, price war especially with local chains, and uncertain political situation. Four interviews were conducted from management and two interviews from ex employees. Moreover, a lot of open access documents of the company were reviewed. Pertinent literature reveiew also revealed interesting insights about emerging consumer trends and cosmetic industry along with interviews of some marketing directors of leading global brands. The Bays leadership believes that key parameters are improving over time. The case covers how the company maneuvered itself since its inception and launched numerous other brands targeted towards different segments of the society, in order to steer towards growth in changing internal and external environment. The case is based on a scenario when there is yet another increase of taxes by the government in 2019 and presents troublesome situations to branding cum marketing strategy for the company to consider. </p> Saad Jamal Farooqui, Jawaid Qureshi, Madiha Zeeshan , Kamran Ahmed Soomro Copyright (c) 2020 International Journal of Experiential Learning & Case Studies Wed, 30 Dec 2020 00:00:00 +0000 Using Augmented Reality for Teaching Chemistry <p>Different technologies have been implemented in the educational sector to improve the method of teaching and learning. Augmented reality is one of the most trending technologies in the f ield of computer graphics and is used in different departments, especially in education as a smart learning environment. Augmented Reality (AR) technology has effective potential that enhances and replaces the old way of learning into a new digitized smart learning environment by converting the school books into a virtual 3D environment containing experiments and object having animation, which helps students extracting and absorbing complex concepts in less amount of time. AR is a computer vision-based technology that works by tracking the surrounding using a smartphone camera and then superimposing virtual 3D objects into the real world. Capabilities of Augmented Reality make classes more engaging, collaborative, and interactive.</p> <p>Studying may not be every student's cup of tea but with the help of smart learn-<br />ing environment school lessons become much more interesting, interactive, and</p> <p>fun to learn. This research gives a brief insight that the interactive AR chem-<br />istry application may lead the students to grasp diff icult concepts of chemistry</p> <p>more easily in an entertaining and engaging ways.</p> Fawad Alam, Khurram Iqbal, Muhammad Zeeshan Sattar, Sajid Nazir Copyright (c) 2020 International Journal of Experiential Learning & Case Studies Wed, 30 Dec 2020 00:00:00 +0000 Revisit the relationship between two inflation indicators: Case of Pakistan <p>This research paper determines the association between two inflation indicators, consumer price index and wholesale price index in three groups' i.e. general group, food group, and non-food group. The objective is to f ind out if the relationship is unidirectional or bidirectional between CPI and WPI in all groups. For this purpose monthly data from July 1971 to December 2019 has been used. Furthermore, Cointegration has been calculated via Johansen's cointegration test on time series data to discover if the long-run aff iliation occurs between the variables. Before cointegration, it is essential to discover the stationarity of the variables for which the augmented dickey fuller test has been used at the f irst difference. Vector Error Correction Model (VECM) is also employed to check for the disturbances of divergence or convergence f inally Granger causality/Block exogenity test is applied to discover causality between variables, it also specifies unidirectional relationship or bidirectional relationship. As a result, it is found that there is a signif icant co-integration equation which indicates that there is an existence of long-run association amongst variables. On the other hand, there is also an indication of the short-run relationship among variables. Finally, a two-way causal relationship is indicated by the granger causality test, between CPI and WPI in general and food group and one-way causal association between CPI and WPI in the non-food group.</p> Saghir Ghauri Copyright (c) 2020 International Journal of Experiential Learning & Case Studies Wed, 30 Dec 2020 00:00:00 +0000 Exploring Experiential Learning Models and developing an EL based ERE cycle in teaching at higher education in Pakistan <p><em>Experiential Learning (EL) is a process where a learner learns in various phases by doing, reflecting, and experimenting (Kolb, 1984). To determine the best practices in EL, one needs to explore it by doing in-depth readings of primitive and contemporary researches and theories of EL. The current study is aimed at exploring and analyzing existing EL theories and cycles to address the needs of the local students of Pakistan. After a thorough and careful discussion, an EL-based ERE model is proposed to use EL strategies in teaching at higher education in Pakistan considering the local requirements and settings. After doing a content analysis of the relevant literature, an ERE cycle was developed that includes three phases with the basic components derived from existing prevailing EL cycles.</em><em> The whole process was termed as 'ERE' cycle, where 'E' referred to 'experience', 'R' referred to 'reflection' and 'E' referred to 'experiment'.</em><em>This study will enable the researchers and EL practitioners to follow the strategies and activities and experiment ERE cycle in teaching different courses.</em><em> The study will permit the students and teachers to experience EL strategies and have productive, meaningful, and long-lasting learning.</em></p> Rana Naeem Akhtar Copyright (c) 2020 International Journal of Experiential Learning & Case Studies Wed, 30 Dec 2020 00:00:00 +0000 How Consumers’ Skepticism is Derived from Deceptive Advertisements <p>This paper aims to explore how consumer behavior is derived by deceptive advertising and their effect that is consumers’ skepticism. The advertisement has a significant influence on every single person’s life and shapes the consumer’s perception. In this study, phenomenological interviews were conducted with three mature females and three males consumers by asking predetermined open-ended questions. The questions had been made to determine the thoughts and feeling about the unlawful, untrue, and mendacious advertisements. The current research shows these symbolic metaphors and highlights the essential meanings that each informant ascribed her consumer encounters. All relevant themes are identified after conducting interviews from participants through data analysis and are further discussed in the results and findings. All findings are interlinked also supported and consistent with earlier studies that are related in this context. The qualitative study ends with some recommendations to companies that think about their consumers and also follow ethical advertising practices.&nbsp;&nbsp;</p> Shaista Kamal Khan, Hina Fatima, Syed Waqas Hussain Copyright (c) 2020 International Journal of Experiential Learning & Case Studies Wed, 30 Dec 2020 00:00:00 +0000 Analysis of client satisfaction - A case of customers’ containment availing services from Micro Finance Institutions <p>The financial well-being of the people living in society is pivotal essential for the country's economic development. The distribution and access to wealth played important role in the economic activities of states. Micro-financing strategies utilized globally to promote distribution and circulation of money, increase access of people living in the low quintile of economic status to the wealth. Similar to global trends, the microfinance strategy was introduced, which is a rapidly growing sector in Pakistan for the last few decades. There are more than 45 registered micro-finance institutions (both for-profit and not-for-profit) that provide services to people at the low-income level in Pakistan. The current study analyzed the level of client satisfaction between private, public, and non-government organization Micro-Finance Institutions (MFIs) operating at District Hyderabad of Sindh, Pakistan. The sample size of 300 clients receiving services from these MFIs, data collected by using random sampling technique on the instrument Likert Scale ranged from 1-5. The collected data processed through scientific methods factorial analysis, customer satisfaction index, and ANOVA. The results of the study presented that clients of non-government MFI are more satisfied as compared to public and private MFIs, male clients are more content to female, changes in family size and education change the level of client satisfaction, where age and monthly household income do not affect client satisfaction. In light of the study, it is recommended for MFIs to initiate client-centric policies especially in the public sector focus on the client glee in the response of services. In the micro-finance industry, female clients are the backbone; it is highly recommended to keep them in the center of attention during the development of policies to increase satisfaction levels.</p> Ghulam Yaseen Veesar, Masood Hassan, Fayaz Ahmed, Rehan Muzammil Copyright (c) 2020 International Journal of Experiential Learning & Case Studies Wed, 30 Dec 2020 00:00:00 +0000