Hopes and Aspirations 1 - Terengganu

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Hopes and Aspirations
Setahun sudah berlalu bagaikan mimpi rasanya. In sha Allah, tahun baru 2013 ini mudah–mudahan akan berjalan dengan baik
dan kita semua akan sentiasa diberkati Allah SWT... Semoga segala usaha dan tenaga yang telah dicurahkan dan yang bakal
kita berikan nanti demi melihat kejayaan akademik dan kualiti
sahsiah para pelajar UiTM kita ini sentiasa mendapat sokongan
padu daripada semua pihak. Kepada semua ibubapa dan peringatan buat diri saya juga, marilah kita sama-sama mendoakan
agar anak-anak kita beroleh ilmu yang berguna dan bermanfaat di zaman
teknologi yang serba canggih ini.
Wan Maziah Wan Ab. Razak
Kullu ‘amin wa
antum bikhair. Another
new year is coming, I wish everyone
the best year you’ve ever had. With the
hopes for better performance in carrier and
family by His bless. It is time to pursue higher
confidence level for a new success in the future
as a lecturer. I wish this year will be myturning
point to strengthen mycapability being a
better muslimah, wife, mother, and of
course lecturer. Last but not least,
Erratul Shela Eshak
let us be better than yesterday,
Happy and Prosperous
New Year.
“No matter how you feel,get up,
dress up and show up, the best is
yet to come. Happy New Year.”
Tismazammi Mustafa
Tahun silih
berganti. 2012 pergi
meninggalkan suka duka
pahit manis kehidupan. 2013
menjelma penuh dengan teka
teki bak sehelai kertas putih yang
menunggu contengan. Harapan
tahun ini semoga kehidupan
sebagai seorang isteri, ibu,
anak, dan pendidik menjanjikan
seribu satu kebahagian,
kemanisan dan kehidupan
yang lebih baik dari
semalam.
Syukur Alhamdulillah, saya dapat menikmati
permulaan tahun 2013 ini. Semoga nikmat dan
rahmat Allah ini berpanjangan dan mendidik hati
dan jiwa untuk sentiasa bersyukur dan bersangka
baik. Setiap perkara yang lagho mohon Allah jauhkan
daripada diri sendiri, keluarga, rakan taulan, dan
masyarakat. Semoga dapat melaksanakan setiap
amanah dengan itqan serta punya nilai kemanusiaan
yang tinggi hasil hubungan yang kuat dengan Allah
Taala. Amin.
Nurmuslimah Kamilah Abdullah
Jika ditanya apa azam dan harapan tahun 2013,
saya ingin memajukan diri dalam bidang yang
saya cintai ini dengan sepenuh jiwa... Sesungguhnya menjadi editor ini merupakan satu langkah permulaan bagi saya dalam memupuk dan
menyemai rasa kecintaan terhadap penulisan
dan berharap agar akan ada sesuatu hasil yang
berguna yang boleh saya manfaatkan dalam hidup dan pekerjaan saya. InsyaAllah...
Suhaily Maizan Abdul Manaf
Nur Hazwani Mohamad Roseli
Assalamualaikum dan salam tahun baru. Datangnya 2013 meninggalkan
2012 dengan senyuman dan air mata. Kisah-kisah kejayaan dan
pencapaian ditenggelamkan dengan cerita perang dan keganasan di
penghujung 2012. Palestin, Myanmar, Filipina
dan Syria antara negara yang terjebak ke
krisis kemanusiaan. Bagai menutup 2012
dengan air mata dan tangisan. Moga 2013
membawa kebahagiaan buat yang menderita,
kemerdekaan buat yang ditindas. Moga tahun
baru ini memberi kehidupan baru yang lebih
baik buat kita, dalam kehidupan bekeluarga,
kerjaya dan sebagai hamba Yang Maha Agung.
Akhir kalam, moga tahun ini dilalui dengan
senyuman dan kebahagiaan…Amiiin…
Hanani Ahmad Fuad
Saya mengharapkan tahun 2013 membawa sinar
& harapan baru kepada bukan sahaja saya, tetapi
semua staf di UiTM Terengganu. Sama-samalah
kita berusaha untuk meningkatkan prestasi diri
demi kampus kita bersama. Semoga rezeki kita
bertambah seiring dengan pertambahan usia &
pengalaman di sini. Amin ya rabbal ‘alamin!
Marha Abdol Ghapar
2012 – Just left us with mixed of sweet and bitter memories. For instance, UiTM(T) had managed to raise its name on the international
stage with the success of the lecturers who won the best paper award
at the international conference. Besides, UiTM as a whole had managed to reserve its name on the world map due to the international
collaboration with world class institutions. Such achievements could
not be accomplished without hard work by all parties. With the existence of BizNewz, indirectly it provides good platform for all of us to
familiarize with the world of writing. Even though the score of bulletin article is lesser as compared to the indexed publication, it can
be a playground especially for new
lecturers who really want to stay in
this career path. Hopefully, 2013 will
be a glorious year for UiTM(T) with
more publications coming in.
Nur Hayati Abd Rahman
1
From the
CHIEF EDITOR’S desk....
Bismillaahirrahmaanirrahiim
Assalamualaikum to all BizNewz readers.
Alhamdulillah, praise be to Allah for this fifth and final
issue of BizNewz in 2012.
As I am writing this, we are already in the first week of
January 2013. 2012 had left us with countless memories,
be it happy or sad, bitter or sweet. Nevertheless, the most
important thing for us as a muslim is we must be able
to comprehend whatever that had happened in the year
2012 by doing self reflection and evaluation (muhasabah).
Everything happens for a reason and there is wisdom
(hikmah) in everything. We should strive to be a better
muslim and muslimah everyday throughout our life.
This issue would be the final issue for the year 2012 and
from all of us, the current editorial board. There would be
a new line-up of editors in the year 2013. It has been a
tremendous experience having to work with all the editorial
members, columnists and article contributors of BizNewz
2012. Thank you so much for the contribution, support
and co-operation rendered all through this wonderful year.
May the new line-up of BizNewz editors will continue
to sustain, and hopefully, surpass the remarkable
achievement of the newsletter in the year to come.
Till then, keep on writing and writing and writing.
Editor-in-Chief
Azyanee Luqman
Editor’s Column
Assalamualaikum dan salam sejahtera kepada pembaca BizNewz. Alhamdulillah, syukur ke hadrat Ilahi atas limpah kurniaanNYA dan atas segala rahmat yang melimpah ruah buat kita semua. Di halaman ini ingin saya coretkan beberapa
pantun empat kerat untuk tatapan para pembaca sekalian:
Kuih bangkit kuih bahulu,
Untuk dihidang kepada menantu,
Tahun 2012 telah berlalu,
Apakah azam tahun baru?
Kuih melaka kuih maruku,
Dihidang untuk ibu mertuaku,
Tahun 2013 semangat yang baru,
Menunaikan azam tahun yang dahulu.
Pelbagai kuih Cina, India dan Melayu,
Untuk dihidang kepada para tetamu,
Sudah pasti azam pensyarah dan juga guru,
Mendidik anak bangsa tidak pernah jemu.
Wahai rakan-rakan pensyarahku,
Janganlah stress ataupun buntu,
Untuk menulis artikel, jurnal dan juga buku,
Semestinya untuk kejayaan kita dan juga UiTM di hatiku.
Salam tahun baru dan semangat baru untuk pembaca sekalian. Semoga
tahun 2013 memberi impak yang lebih positif dalam setiap langkah dan
perjuangan hidup kita sekalian. Ma’a ssalamah. Ilal liqa.
2
Tismazammi Mustafa
By: Wan Maziah Wan Ab Razak & Ahmad Ismail Mohd Anuar
The Big FIVE (not The Big APPLE)
People always talk about Big Apple donuts because of its delightful taste and flavors. It’s nice to have it as our
breakfast or anytime we want. Nowadays, some people enjoy selling them during any events as it has lots of Big
Apple donuts’ lovers from all range of ages. This article is not going to share about how to bake the donut or the
secret recipe of Big Apple donuts, but just to share about the Big Five personality.
Actually, in the perspective of organizational behavior and personal development, there is one personality
dimension and it’s called the Big Five Personality Dimensions. In psychology, the “Big Five” factors of personality
are five broad domains or dimensions of personality that are used to describe human personality. The theory
based on the Big Five factors is called the Five Factor Model (FFM).
The Big Five framework of personality traits from
Costa & McCrae (1992) emerged as a robust model for
understanding the relationship between personality
and various academic behaviors. The Big Five factors
are:
• Openness (inventive/curious vs. consistent/
cautious)
• Conscientiousness (efficient/organized vs.
easy-going/careless)
• Extraversion
(outgoing/energetic
vs.
solitary/reserved)
• Agreeableness (friendly/compassionate vs.
cold/unkind)
• Neuroticism (sensitive/nervous vs. secure/
confident)
Acronyms commonly used to refer to the five traits
collectively are OCEAN, NEOAC, or CANOE. Beneath
each factor, a cluster of correlated specific traits are
found; for example, extraversion includes such related
qualities as gregariousness, assertiveness, excitement
seeking, warmth, activity and positive emotions.
The FIVE factors
The factors of the Big Five and their constituent traits
can be summarized as:
• Openness to experience – (inventive/curious
vs. consistent/cautious).
Appreciation for art, emotion, adventure,
unusual ideas, curiosity, and variety of
experience. Openness reflects the degree
of intellectual curiosity, creativity and a
preference for novelty and variety. Some
disagreement remains about how to interpret
the openness factor, which is sometimes
called “intellect” rather than openness to
experience.
• Conscientiousness – (efficient/organized vs.
easy-going/careless).
A tendency to show self-discipline, act
dutifully, and aim for achievement; planned
rather than spontaneous behavior; organized,
and dependable.
• Extraversion – (outgoing/energetic vs.
solitary/reserved).
Energy,
positive
emotions,
surgency,
assertiveness, sociability and the tendency
to seek stimulation in the company of others,
and talkativeness.
• Agreeableness – (friendly/compassionate vs.
•
cold/unkind).
A tendency to be compassionate and cooperative
rather than suspicious and antagonistic towards
others.
Neuroticism – (sensitive/nervous vs. secure/
confident).
The tendency to experience unpleasant
emotions easily, such as anger, anxiety,
depression, or vulnerability. Neuroticism also
refers to the degree of emotional stability and
impulse control, and is sometimes referred by
its low pole – “emotional stability”.
The Big Five model is a comprehensive, empirical,
data-driven research finding. Identifying the traits and
structure of human personality has been one of the
most fundamental goals in all of psychology. Do you
know that the five broad factors were discovered and
defined by several independent sets of researchers?
These researchers began by studying known personality
traits and then factor-analyzing hundreds of measures
of these traits (in self-report and questionnaire
data, peer ratings, and objective measures from
experimental settings) in order to find the underlying
factors of personality.
The initial model was advanced by Ernest Tupes and
Raymond Christal in 1961, but failed to reach an
academic audience until the 1980s. In 1990, J.M.
Digman advanced his five factor model of personality,
which Goldberg extended to the highest level of
organization. These five overarching domains have been
found to contain and subsume most known personality
traits and are assumed to represent the basic structure
behind all personality traits. These five factors provide
a rich conceptual framework for integrating all the
research findings and theory in personality psychology.
The Big Five traits are also referred to as the “Five
Factor Model” or FFM, and as the Global Factors of
personality.
Because the Big Five traits are broad and comprehensive,
they are not nearly as powerful in predicting and
explaining actual behavior as are the more numerous
lower-level traits. Many studies have confirmed that in
predicting actual behavior the more numerous facet
or primary level traits are far more effective (e.g.
Mershon & Gorsuch, 1988; Paunonon & Ashton, 2001).
When scored for individual feedback, these traits are
frequently presented as percentile scores. For example, a
Conscientiousness rating in the 80th percentile indicates
a relatively strong sense of responsibility and orderliness,
3
whereas an Extraversion rating in the 5th percentile
indicates an exceptional need for solitude and quiet.
Although these trait clusters are statistical aggregates,
exceptions may exist on individual personality profiles.
On average, people who register high in Openness are
intellectually curious, open to emotion, interested in
art, and willing to try new things. A particular individual,
however, may have a high overall Openness score and
be interested in learning and exploring new cultures but
have no great interest in art or poetry.
Openness to experience
Openness is a general appreciation for art, emotion,
adventure, unusual ideas, imagination, curiosity,
and variety of experience. People who are open to
experience are intellectually curious, appreciative of
art, and sensitive to beauty. They tend to be, when
compared to closed people, more creative and more
aware of their feelings. They are more likely to hold
unconventional beliefs. Another characteristic of
the open cognitive style is a facility for thinking in
symbols and abstractions far removed from concrete
experience. People with low scores on openness tend
to have more conventional, traditional interests. They
prefer the plain, straightforward, and obvious over the
complex, ambiguous, and subtle. They may regard the
arts and sciences with suspicion or view these endeavors
as uninteresting. Closed people prefer familiarity over
novelty; they are conservative and resistant to change.
Sample openness items
•
•
•
•
•
•
•
•
I have a rich vocabulary.
I have a vivid imagination.
I have excellent ideas.
I am quick to understand things.
I am full of ideas.
I am not interested in abstractions. (reversed)
I do not have a good imagination. (reversed)
I have difficulty understanding abstract ideas.
(reversed)
Conscientiousness
Conscientiousness is a tendency to show self-discipline,
act dutifully, and aim for achievement against measures
or outside expectations. The trait shows a preference for
planned rather than spontaneous behavior. It influences
the way in which we control, regulate, and direct our
impulses. According to a study conducted at Michigan
State University, it was found by R.E. Lucas and his
colleagues that the average level of conscientiousness
augmented among young adults and then declined
among older adults.
Sample conscientiousness items
•
•
•
•
•
•
•
•
4
I
I
I
I
I
I
I
I
am always prepared.
pay attention to details.
get chores done right away.
like order.
follow a schedule.
am exacting in my work.
leave my belongings around. (reversed)
make a mess of things. (reversed)
•
•
I often forget to put things back in their proper
place. (reversed)
I shirk my duties. (reversed)
Extraversion
Extraversion is characterized by positive emotions,
surgency, and the tendency to seek out stimulation
and the company of others. The trait is marked by
pronounced engagement with the external world.
Extraverts enjoy being with people, and are often
perceived as full of energy. They tend to be enthusiastic,
action-oriented individuals who are likely to say “Yes!”
or “Let’s go!” to opportunities for excitement. In
groups they like to talk, assert themselves, and draw
attention to themselves.
Introverts have lower social engagement and activity
levels than extraverts. They tend to seem quiet, low-key,
deliberate, and less involved in the social world. Their
lack of social involvement should not be interpreted
as shyness or depression. Introverts simply need less
stimulation than extraverts and more time alone. They
may be very active and energetic, simply not socially.
Sample extraversion items
•
•
•
•
•
•
•
•
•
•
I am the life of the party.
I don’t mind being the center of attention.
I feel comfortable around people.
I start conversations.
I talk to a lot of different people at parties.
I don’t talk a lot. (reversed)
I keep in the background. (reversed)
I have little to say. (reversed)
I don’t like to draw attention to myself.
(reversed)
I am quiet around strangers. (reversed)
Agreeableness
Agreeableness is a tendency to be compassionate and
cooperative rather than suspicious and antagonistic
towards others. The trait reflects individual differences
in general concern for social harmony. Agreeable
individuals value getting along with others. They are
generally considerate, friendly, generous, helpful,
and willing to compromise their interests with others.
Agreeable people also have an optimistic view of human
nature. Although agreeableness is positively correlated
with good team work skills, it is negatively correlated with
leadership skills. Those who voice out their opinion in a
team environment tend to move up the corporate rankings,
whereas the ones that don’t, remains in the same position,
usually labelled as the followers of the team.
Disagreeable individuals place self-interest above
getting along with others. They are generally
unconcerned with others’ well-being, and are less likely
to extend themselves for other people. Sometimes
their skepticism about others’ motives causes them to
be suspicious, unfriendly, and uncooperative.
Sample agreeableness items
•
•
I am interested in people.
I sympathize with others’ feelings.
•
•
•
•
•
•
•
•
I have a soft heart.
I take time out for others.
I feel others’ emotions.
I make people feel at ease.
I am not really interested in others. (reversed)
I insult people. (reversed)
I am not interested in other people’s problems.
(reversed)
I feel little concern for others. (reversed)
Neuroticism
Neuroticism is the tendency to experience negative
emotions, such as anger, anxiety, or depression. It is
sometimes called emotional instability, or is reversed and
referred to as emotional stability. According to Eysenck’s
(1967) theory of personality, neuroticism is interlinked
with low tolerance for stress or aversive stimuli. Those
who score high in neuroticism are emotionally reactive
and vulnerable to stress. They are more likely to interpret
ordinary situations as threatening, and minor frustrations
as hopelessly difficult. Their negative emotional
reactions tend to persist for unusually long periods of
time, which means they are often in a bad mood. These
problems in emotional regulation can diminish the ability
of a person scoring high on neuroticism to think clearly,
make decisions, and cope effectively with stress. Lacking
contentment in one’s life achievements can correlate to
high Neuroticism scores and increase a person’s likelihood
of falling into clinical depression.
At the other end of the scale, individuals who score low in
neuroticism are less easily upset and are less emotionally
reactive. They tend to be calm, emotionally stable,
and free from persistent negative feelings. Freedom
from negative feelings does not mean that low scorers
experience a lot of positive feelings. Research suggests
extraversion and neuroticism are negatively correlated.
Sample neuroticism items
•
•
•
•
•
•
•
•
•
I
I
I
I
I
I
I
I
I
am easily disturbed.
change my mood a lot.
get irritated easily.
get stressed out easily.
get upset easily.
have frequent mood swings.
worry about things.
am relaxed most of the time. (reversed)
seldom feel blue. (reversed)
The Big-Five Inventory can be administered by employers
to job applicants. It is believed that the Big-Five traits
are predictive of future performance outcomes. Job
outcome measures include: job and training proficiency
and personnel data.
According to Singh, A. K. (2012), studies have utilized
big-five personality inventory in college students to
determine that hope, which is linked to agreeableness
has a positive effect of psychological well being.
Individuals high in neurotic tendencies are less likely to
display hopeful tendencies and are negatively associated
with well-being.
certain stages of life may predict their educational
identity. Recent studies have suggested the likelihood
of an individual’s personality affecting their educational
identity (Klimstra, T., 2012).
Do you recognize your type of personality now? Maybe
yes. The most important part is, we are doing the right
things using the right ways with right personalities.
What differentiate us maybe the ways we use them or
the leadership styles we are practising now because
we are not the same. Hopefully as academicians, as
an educator, or maybe as a leader, we aim for the best
manner that could inspire our work towards the end. OR
maybe some organizations would prefer to announce
The Best Personality Awards....who knows?
Sources:
Costa, P. T., Jr., & McCrae, R. R. (1992). Normal
personality assessment in clinical practice: The NEO
Personality Inventory. Psychological Assessment, 4,
5-13.
Digman, J.M. (1990). “Personality structure: Emergence
of the five-factor model”. Annual Review of Psychology
41: 417–440.
Goldberg, L.R. (1982). From Ace to Zombie: Some
explorations in the language of personality. In C.D.
Spielberger & J.N. Butcher (Eds.), Advances in
personality assessment, Vol. 1. Hillsdale, NJ: Erlbaum.
Klimstra, T. (2012). “Personality traits and educational
identity formation in late adolescents: Longitudinal
associations and academic progress”. Journal of Youth
and Adolescence 41: 341–356.
McCrae, R. R., & Costa, P. T., Jr. (1996). Toward a
new generation of personality theories: Theoretical
contexts for the five-factor model. In J. S. Wiggins
(Ed.), The five-factor model of personality: Theoretical
perspectives (pp. 51-87). New York: Guilford.
Mershon, B.; Gorsuch, R.L. (1988). “Number of factors
in the personality sphere: does increase in factors
increase predictability of real-life criteria?”. Journal
of Personality and Social Psychology 55 (4): 675–680.
Mount, M. K.; Barrick, M. R. (1998). “Five reasons
why the “big five” article has been frequently cited”.
Personnel Psychology 51 (4): 849–857.
Singh, A. K. (2012). “Does trait predict psychological
well-being among students of professional courses?.”.
Journal of the Indian Academy of Applied Psychology
38 (2): 234–241.
Tupes, E.C., & Christal, R.E., Recurrent Personality
Factors Based on Trait Ratings. Technical Report ASDTR-61-97, Lackland Air Force Base, TX: Personnel
Laboratory, Air Force Systems Command, 1961.
Personality can sometimes be flexible and measuring
the big five personality for individuals as they enter
5
EFFECTIVE
CLASSROOM
MANAGEMENT
STRATEGIES
By: Suhaily Maizan Abdul Manaf
Definition of Effective
Classroom Management
Strategies:
Managing the classroom environment effectively is somewhat
important to all education institutions such as kindergartens,
schools, universities, and others.
The effectiveness of classroom
management will ensure that the
teaching and learning environment could attract the students
to remain focus in gaining knowledge and information.
Sturz, Kleiner, and Fernandez
(2005) identified classroom
management in many parts of
teaching, including the physical environment, behaviour, or
instruction. In a dissertation
thesis done by McGregor (2012),
the term classroom management
encompasses a wide array of
systems and procedures impacting
both the tangible physical environment of the classroom regard-
6
ing objects and systems, and
invisible behavioural component
involving relationships.
According to Stewarts, Evans, and
Kaczynski (1997), the researchers
from University of West Florida,
have proposed some instruments
that enable the teachers to assess
their teaching environments, include physical environment, time
management, behaviour management, and teaching effectiveness.
The Various Strategies:
The need for managing the
classroom is a crucial issue to
look for. The students nowadays
are more diverse and creative
than before. They have a variety
of ways to accept the learning
methods and doing the assignments or tasks. Sturz et al.
(2005) suggested that teachers
or lecturers should accommodate
many types of teaching styles
and meaningful lessons to cope
with those challenges as well
as to encourage the students to
internalise information as much
as they could.
There are various classroom management strategies being adopted
in the class environment. With
many researches being conducted
to examine the effectiveness of
such techniques, it ensures the
suitability of various strategies
that can give inspirations or ideas
to the new lecturer as to adapt
them during the class sessions.
Some researches have been
conducted heed about the importance of effective classroom
environment through the layout
or seating arrangement. This
is the first step to be clear before proceeding to the teaching
approach. According to Sztejnberg and Finch (2006), the table
layout will communicate the
intensity of interaction between
lecturer and students.
On the other hand, for favourable student learning, Sztejnberg
and Finch (2006) added that the
teachers or lecturers should focus
on seating arrangements with
appropriate furniture to create
effectively two-way physical and
visual communications. They also
investigated that the instructional management requires clear,
academic, and behaviour goals for
short-term and long-term periods.
Looking at the physical environment and learning style,
Brown (2003, 2004) suggested
five successful management
strategies that could reflect to
cultural responsiveness in classroom management strategies
being practiced in urban areas.
The strategies develop personal
relationships and mutual respect
through individualised attention,
creating caring learning communities, establishing business-like
learning environments, establishing congruent communication
processes, and teaching with
assertiveness and clearly stated
expectations.
In the meantime, Sturz et al.
(2005) further explained that the
students should also learn and be
exposed to use technology during the class sessions. As there
is explosive growth in the use
of technology and information
system, the need for teaching it
to students is somewhat important. The benefits of the use of
technology that go around are its
easiness and quickness for disseminating lessons, compatibility
with the current situation, and an
attractive teaching and learning
environment. The use of technology can be in the forms of websites, forums, video conference,
PowerPoint slides, and others. By
looking at the current technology
being used in disseminating the
lectures by UiTM, students now
can easily access lecturers’ notes
and do some discussion through
i-Learn portal. This method is
somewhat effective as they
can do assignments and quizzes
online within certain time limit.
Besides, teachers and lecturers
can also use movie previews or
music to attract the students to
focus more in class. In a research
done by Satish (2012), a sig-
so that the students will efficiently gaining the knowledge as much
as they could. All of these could
attract students to be more critical thinking in exchanging their
views and opinions with academicians in a comfortable environment. Early preparation, careful
planning, and creative thinking
among academicians could ensure that the knowledge could be
delivered effectively and brings
benefits to both parties.
REFERENCES
Brown, D. F. (2003). Urban teachers’ use
of culturally responsive management
strategies. Theory in Practice, 42 (4),
nificant number of management
scholars believe that young students tend to remember popular
movie contents more often than
textbooks, research papers, and
other scholarly reference materials. Moreover, students are also
very comfortable in remembering the movie scenes, dialogues,
and music with the theoretical
concepts explained in the classroom. Therefore, the researcher
also suggests that the teachers
or lecturers could show a few
selected scenes from a selected
movie in one or two sessions
during the class and generate
discussions on specific theories,
models, and issues. All of these
could make the students feel
very attracted to follow the
class session and easy to remember the concepts of the topic
learned.
pp. 277-282.
With so many effective teaching
strategies could be adopted in
the classroom, lecturers should
creatively blend them together
Sztejnberg, A., & Finch, E. F. (2006).
Adaptive use patterns of secondary
school classroom environments. Facilities, 24 (13/14), pp. 490-509.
Brown, D. F. (2004). Urban teachers’
professed classroom management strategies: Reflections of culturally responsive
teaching. Urban Education, 39 (3), pp.
266-289.
McGregor, K. L. (2012). Classroom management strategies of highly effective
teachers in diverse middle schools: Be
strict and calm, not mean. Dissertation
Thesis.
Satish, P. (2012). Using popular movies
in teaching cross-cultural management.
European Journal of Training Development, 36, (2/3), pp. 329-350.
Stewarts, S. C., Evans, W. H., & Kaczynski, D. J. (1997). Setting the stage
for success: Assessing the instructional
environment. Preventing School Failure,
41 (4), pp. 53-56.
Sturz, D. L., Kleiner, B. H., & Fernandez,
A. (2005). Effective management of
cultural diversity in a classroom setting.
Equal Opportunities International, 24
(5), pp. 57-64.
7
Project
Risks
Management
By: Raslina Mohamed Nor, Noor Malinjasari Ali, A’tiqah Rashidah Abu Samah
Have you ever felt angry, frustrated and helpless when
projects such as events that you have planned do not
turn out the way that you want them to be? PA system
malfunction, lack of participants, inadequate food and
miscommunication among organizing members are
examples of the things that can spoil what could have been
a wonderful event. Well, all these unwanted circumstances
are called risks and they are inherent in projects.
Clements & Gido (2012) define risk as an uncertain event
that if it occurs can result in failure to achieve project
objectives. Inability to manage risk can bring disastrous
impacts to our project. It can delay our project, increase
our costs, jeopardize our product quality, frustrate our
customers, tarnish our reputation and the list goes on.
As risks are inevitable it is crucial that we manage them
properly.
Clements & Gido (2012) explains that to manage project
risks we need to firstly identify the project risks and their
impacts. Risks need to be identified during the initiating
phase of a project life cycle. This is essential as it help
us to decide whether or not to pursue a project. If the
project entails huge risks it may be wiser not to carry out
the project in the first place. At least, the decision could
save us from all the possible hassle and catastrophe.
If, however, we decide to pursue the project, then risk
identification will help us to be aware of potential risks and
be proactive in trying to avoid or minimize the risks and
their impacts. Also, it helps us to be prepared in dealing
with the risks whenever they occur.
Secondly, we need to assess risks. Examining the
likelihood of each risk and the degree of its impact helps
us to prioritize risks. This is vital as most of the time we
have limited capacity to handle all the risks. In fact, some
risks could be trivial and not worthy of our attention. Risks
can be assessed by using risk assessment matrix. This
matrix helps us in rating each risk based on the likelihood
of occurrence and the degree of impact of each risk.
Next, we need to respond to risks by choosing the
appropriate response plans. Risk response plans can be
divided into four namely risk mitigation, risk avoidance,
risk transfer and risk retention (Larson & Gray 2011). Risk
mitigation is about reducing the likelihood that the risk
8
event will occur and the impact that the risk would have
on a project. For example, the risk of multiple redesign
of an invitation card could be reduced by reviewing some
sample designs with customer at the planning stage of
the project. Risk avoidance is about eliminating risks by
changing the project plan or choosing a different course of
action. For example, instead of using a new and unproven
method, we can decide to use a proven conventional
method in building a system. Risk transfer is about
transferring risks to another party. However, this respond
plan usually requires paying a premium to that another
party. Insurance, performance bonds, warranties and
guarantees are some of the instruments that can be used
to transfer risks. Risk retention is about accepting risks by
developing contingency plan and using the plan to deal
with the risks if and when they occur. To be effective, a risk
response plan should include the name of the individuals
who will be responsible to implement the action plan and a
trigger point for when to implement the action plan.
Lastly, risks need to be monitored. It is crucial to regularly
review and evaluate risks as the likelihood of occurrence
and potential impact of risks may change throughout the
life span of a project. Some risks may increase in priority
for attention while some may decrease in importance. Also,
new risks could be identified as the project progresses.
In a nutshell, all of us need to accept that risks are part of
projects. We need to be proactive in managing them the
best way that we could so that all our project objectives
could be achieved successfully.
References:
Clements, J. P. & Gido J. (2012) Effective Project
Management (5th ed.) South Western: Cengage Learning
Larson, E. W. & Gray, C. F. (2011) Project Management:
The Managerial Process (International Edition) New York:
McGraw-Hill Companies, Inc.
Will the house
price decline?
By: Mohd Husnin Mat Yusof & Zaimi Mohamed
If you are thinking of buying a house, the advice
from the experts usually stresses on the location of
the property as the primary consideration. Either
for own occupancy or for investment purposes the
location of such property would primarily determine
the property value in the future. As an example, a
unit strategically located in the city which you buy
today is expected to increase in its value a year
later or even much earlier. Interestingly, the value
will keep on increasing for the years to come. Why
do property prices keep on climbing and what does
it mean by property bubble?
What is a property bubble anyway? People have
been talking for quite some time about the
increase in property prices in the country which
seems to create a property bubble. Some people
are also saying that the property market will bump
into bubble burst in the near future, which would
lead to a decline in the prices. According to the
experts, bubble burst will occur with initial stage
of very low interest rates and a loosening of credit
underwriting standards, thus bring borrowers into
the market, subsequently fueling the demand. To
balance the situation, a rise in interest rates and
a tightening of credit standards are expected to
minimize the demand; causing a housing bubble to
burst.
The public especially in big cities believed that
house price today is quite incredible. One of the
reasons could be that they were pressured by high
cost of living. According to the “Worldwide Cost of
Living 2012” report, Kuala Lumpur’s cost of living
index rose from 67 in June 2009 to 83 in January
2012. This has shoved the bank to prolong loan
duration to maximum 40 years as compared to 25
until 30 years previously. Could this be a sign that
house price will continue skyrocketing? The public
generally concluded that the house price will
surely go up. They claimed that it is impossible
for developer or seller to trim down their profit
margin. The demand is still there. It was reported
that house price range between RM200k to RM500k
will not be lessen or lower in demand. The taker
for such a property is easily found, thus, why the
house price needs to go down?
It is undeniable that the return on property
investment is promising. It grows parallel with
nation development. However, only high income
earner or super rich individual could afford to have
various type of properties ranges from condo to
commercial buildings. How about the majority of
us who are in the lower to middle income group?
Most of the people in this category are usually
stuck with debt at the maximum level. Since most
of the people in this category are already burdened
with the existing debts, the opportunity to make
money in property investment will continue to be
enjoyed by the high net worth individuals.
Household debt can be defined as the amount
of money that all adults in the household owe
financial institution. It includes consumer debt
and mortgage loan. RAM Ratings head of financial
institution ratings Wong Yin Ching said, Malaysia’s
household debt-to-GDP ratio has trended upwards
from 69% in 2009 to 77% in 2011. According to
Malaysian Rating Corp Bhd chief economist Nor
Zahidi Alias said in term of household debt ratio
to the country output (GDP), Malaysia’s household
debt would likely remain high or even increased
slightly in 2012, especially if nominal GDP fails to
increase substantially due to a general slowdown
in the global economy. Table extract from News
Straits Times Newspaper dated 9 October 2012
below, shows the GDP forecast for year 2012 and
2013. Malaysia’s GDP is forecasted to grow at
lower pace.
9
• Government will allocate RM1.9 billion to
build 123,000 affordable housing units in
strategic locations in 2013.
• A total of RM500 million will be spent by
PR1MA to build 80,000 houses in major
location nationwide with the selling price
ranging between RM100,000 and RM400,000
per unit.
• PR1MA will prove the Housing Facilitation
Fund totaling RM500 million to build houses
in collaboration with private housing
developers. The house price under this
program will be 20% lower than the market
price.
• My First Home Scheme, which was launch
will be improved by increasing the income
limit for individual loans from RM3,000 to
RM5,000 per month or joint loans of husband
and wife of up to RM10,000 per month.
Referring to Bank Negara Malaysia (BNM) monthly
statistical report, as at 31 August 2012 the NonPerforming Loan (NPL) from household sector has
reach RM9.43 billion lowered by RM742 million
or 7.86% as compared to the same month of the
previous year. Other report under the section of
loan disbursed for purchase of residential property
as at August 2012 record RM5.62 billion declined
by RM705 million or 12.55% as compared to the 1st
quarter on same year. It seems that bankers are
currently playing a prudent game in dealing with
property portfolio. But, are they intentionally
cautious or being forced to reallocate the focus.
A banking analyst from MIDF Research claimed that
household loan is expected to trend downward with
stricter guidance from Bank Negara on credit cards
and new lending guideline that requires bank to
use net income to calculate the debt service ratio
for loan approval. The guidelines, which comes
into effect in January next year (2013), cover all
consumer loans products including housing loan,
personal loans, car loans, credit card receivables
and loans for the purchase of securities.
With such a trend in the level of household
debts and measures taken by BNM to control the
situation, what do you think will happen to the
property sector? Will such a scenario or trend
lead to the rationalization of property price?
Perhaps, certain quarters of the population would
be relieved by the recent budget tabled by the
prime minister. The followings are extracts of
the budget on several initiatives to lessen public
burden concerning affordable housing.
10
Are you still waiting or expecting for the property
bubble burst to get a cheaper house? When will it
be? 2013, 2014, 2020…? For the younger generation
and first time home buyers such as young lecturers,
you could take advantage of the ‘My First Home
Scheme’. So, what are you waiting for? Shop around
and remember - Location! Location! Location!
REFERENCES
1. http//www.smecorp.gov.my/v4/node/588
2. http://www.cbt.com.my/2012/02/29/
kl-cost-of-living-rise-new-borrowingguidelines-hitting-local-players/
3. The Star, 24 March 2012
4. NST, 09 Oct 2012.
5. Bank Negara Malaysia
6. Statistical Department of Malaysia
The Role of Trust in Mediating the Relationship between
Market Orientation and Relational Satisfaction
Authored by: Dr. Zainuddin Bin Zakaria, Dr. Muhammad Abi Sofian Bin Abdul Halim,
Siti Hajar Binti Mohd Hussain, Mohd Ariff Bin Kamaludin and Ahmad Tarmizi Bin Muhamad Yusof
The purpose of this paper is to determine how the concept of trust (Benevolence and Credibility) can mediate the
relationship between market orientation and the relational satisfaction of private Higher Learning Institutions (HLI)
that forms academic franchise with public universities. We discovered that only the perception of Credibility and
not Benevolence mediates the relationship between market orientation and the relational satisfaction experienced
by the private HLI. The conceptual model created based on the findings of the research will help managers, decision
makers and education authorities to better understand the role of trust in the collaboration of public and private HLI.
Methods
The respondents chosen are management staff from 50 private colleges in Malaysia. These private colleges were
selected from a population of 65 private colleges that have created academic collaboration with Malaysia public
universities. These colleges offer selected academic courses that are identical to the academic courses offered by
these universities. A total of 209 management staffs participated in the survey. Data was collected using questionnaires
with a total of 11 items for the construct Trust of which 5 items for credibility and 6 items for benevolence. As for
the construct Market Orientation, 8 items were used for perceptions of the private colleges on their own Market
Orientation and 7 items on perceptions of their partner’s Market Orientation. In the construct Relational Satisfaction, 3
items were utilised for economic satisfaction and 4 items for non economic satisfaction. The authors and enumerators
distributed and collected the questionnaires within a period of six months.
Conceptual Framework
INDEPENDENT
VARIABLES
MEDIATING
VARIABLE
Trust:
Credibility
Perceived Market
Orientation (MO)
1.
2.
Own MO
Partner’s MO
MEDIATING
VARIABLE
Step 2:
Dependent
Variable
Relational
Satisfaction
Trust:
Benevolence
Results
The authors conducted regression analysis in three steps
as suggested by Baron and Kenny (1986). All results are
shown below. Step 1:
The dependent variable is regressed on the independent
variable. In other words, the authors determine whether
the independent variable is a significant predictor of
the dependent variable.
Independent Variable Dependent Variable
Y = 2.022 + 0.360X1 + 0.340X2 + 0.257
Y= Relational Satisfaction,
X1= Perception on Own Market Orientation,
X2 = Perception on Partner’s Market Orientation
In the second step, the mediator (Trust; Benevolence and
Credibility) is regressed on the independent variable.
In other words, the authors are trying to confirm that
the independent variable is a significant predictor of
the mediator. If the mediator is not associated with the
independent variable, then it could not possibly mediate
anything. Since there are two dimensions (benevolence
and credibility) represent the mediating variable, they
are regressed separately on the independent variables.
All results are shown below.
Independent Variable Mediator
Me1 = 3.010 + 0.508X1 + 0.293 and
Me2 = 2.232 + 0.368X1 + 0.261X2 + 0.288
Me1 = Credibility, Me2 = Benevolence
X1 = Perception on Own Market Orientation,
Perception on Partner’s Market Orientation
X2 =
All β value in both equations is significant with R Square (r2)
value of 0.258 for Me1 and R Square (r2) value of 0.353 for Me2
Step 3:
According to Baron and Kenny (1986), this step
demonstrates that when the mediator and the
independent variable are used simultaneously to predict
the dependent variable, the previous significant path
between the independent and dependent variable (Step
#1) are now greatly reduced, if not totally insignificant.
In other words, if the mediator were to be removed
from the relationship, the relationship between
the independent and dependent variables would be
noticeably reduced. The equation is therefore shown
below.
Both β value for X1 and X2 are significant with R Square
(r2) value of 0.420
11
Public
Transportation
System
Y = 0.873 + 0.152X1 + 0.269X2+ 0.458 Me+ 0.264
X1 = Perception on Own Market Orientation,
X2 = Perception on Partner’s Market Orientation
Me
(Mediating
Variable)
=
Credibility
Both β value for X1 and X2 are significant with R Square
(r2) value of 0.591
The authors also discovered that the Beta value (β) for the
mediating variable; credibility is significant and the Beta
value (β) for both dimensions of the independent variable
(X1 and X2 ) is lower compared to the Beta value (β) for
both dimensions (X1 and X2 ) of the independent variables
in Step #1. These results confirm that there is partial
mediation indicating that the mediating variable accounts
for some of the relationship between the independent
variable and dependent variable. In addition, the R Square
(R 2) value in Step # 3 is higher (0.591) than the R Square
(0.420) value in step # 1, highlighting the mediating
effect of Credibility in the relationship between Market
Orientation and Relational Satisfaction.
Conclusion
Results of the first multiple regression analysis highlights
the importance of both of perceptions of the organisation’s
own Market Orientation (MO), and the organisation’s
perception of its partner’s MO. Similarly, Liu et.al (2009)
discovered that in addition to Relational Norms, Trust
(credibility and benevolence) is an important factor that
is associated with relational satisfaction experienced by
the private colleges. In this paper, we have determined
that only credibility and not benevolence mediates the
relationship between Market Orientation and Relational
Satisfaction. In the context of collaboration between
HLI, it is paramount for administrators of both public
and private HLI to maintain and improve their credibility
and market orientation in order to increase their level of
relational satisfaction and subsequently the length of the
collaboration. Credibility is conceptualised as the belief
of the participant in the relationship that the other
party is ‘sincere, trustworthy, keeps his/her word, and
is committed to his/her obligations’ in performing the
role that is required and obligated in the relationship.
Thus, the credibility build by an organisation is tied
to the volume or ‘required level of capability’ or the
‘skill’ possessed to perform the tasks obligated by the
relationship (Vasquez et.al, 2005). The long term success
of the collaboration may well depend on the successful
implementation of these elements.
References
Baron, R. M. and Kenny, D. A. (1986). The Moderator-Mediator
Variable Distinction in Social Psychological Research – Conceptual,
Strategic, and Statistical Considerations, Journal of Personality
and Social Psychology. 51(6), 1173–1182.
Liu, Y., Luo, Y. & Liu, T. (2009). Governing Buyer-Supplier
Relationships through Transactional and Relational Mechanism:
Evidence from China. Journal of Operations Management, 27,
294-309.
Vasquez, R., Iglesias, V. and Alvarez-Gonzalez, L.I. (2005).
Distribution Channel Relationships: The Condition and Strategic
Outcomes of Cooperation between Manufacturer and Distributor.
International Review of Retail, Distribution and Consumer
Research. 15(2), 125-150.
By: Noor Malinjasari Ali, Raslina Mohamed Nor
A’tiqah Rashidah Abu Samah
An efficient and effective urban transportation system can
promote urban development and renewal while providing
mobility to the public. In fact, in cities of developing
countries, public transports are often regarded as the major
engines for economic growth. As mentioned by Button
(1993) improvements in city transportation will enable
people to be more efficient and productive.
However, some Malaysians still do not realize the
importance of public transportation and how it contributes
towards the development of urban areas. Even with the
introduction of Light Rapid Transit and other sophisticated
transportation system like Express Rail Link, Malaysians
still prefer to use private transports. In 2011 for example,
the modal share of public transport in the Klang Valley was
only 16.42 percent.
The less percentage of public transport ridership among
Malaysians could be due to the inability of the Malaysian
public transport to provide comfortable and conducive
commuting experiences to the public.
Macario (2001) suggests that for any urban mobility system
including the public transport sector to satisfy customer
needs, they must focus on the interaction between various
authorities, system and the customer themselves.
Macario also cites Ciuffini (1995) who emphasizes the need
for an adequate balance between the following dimensions:
• Transport dimension should obtain adequate balance
between modes and means of transport, so that those
who give up the use of private transportation will have
available good quality alternatives without any social,
geographical or sectoral discrimination.
• Environmental dimension should establish a
configuration of the urban mobility system that results
in a total sum of pollution below the endurance level.
•
Economic dimension should offer good “value for
money,” induce adaptive behavior from the users, and
be able to create new financial resources to support
investment.
• Social dimension should ensure that citizens are
provided with an adequate mobility system to their
needs and that no exclusion through price or any other
criteria is imposed on the basis of economic or financial
goals.
From this perspective, customer satisfaction with bus
transportation can be used to find reasonable solutions to
further improve the quality of public transportation services.
References
Button, K. J. 1993. Transport Economics (2nd ed.) Edward Elgar
Publishing Limited.
Macario, R. 2001. Upgrading quality in urban mobility systems.
Managing Service Quality 11 (2, 4/5, 6): S747–S753.
GTP Annual Report, 2011. www.pmo.gov.my
TOO GOOD TO BE TRUE!
By: Yau’mee Hayati Hj Mohamed Yusof, Nur Hazwani Mohamad Roseli and Nurul Ulfa Abdul Aziz
Too good to be true
Like diamonds on the soles of my shoes
Like money falling outta the blue
Don’t be fooled
He ain’t nothing but too good to be real
Don’t believe the way he’s making you feel
He’ll break your pretty heart in two
Momma told me ‘bout boys like you
Too good to be true
Too good to be true
~ Song by: EDENS EDGE~
“Too good to be true” is an English idiom which
means “almost unbelievable; so good as to be
unbelievable”. The song as mentioned above is a
reminder for a girl from her mother on how she
needs to be extra careful with a boy who seems
too good to be real. Recently, a friend of mine got
a message in her facebook account from a man,
claimed that he was so attracted to my friend’s
picture on her profile. Imagine the picture is so
tiny, then came a man who claimed that he was
so attracted with your picture and keen to know
more about you. Hmm.., seems suspicious right?
I believe there are plenty women out there who
might have received such kind of message in their
social networking account or etc.
Nowadays, most of us spend time online in 24/7
basis by conducting online socializing, getting
immediate updates from latest news or use it to
support our working environment. Don’t you know
that you are being exposed with potential unknown
threat? Though most of us are educated and well
13
mannered, we still need to be careful with the
scenario of “too good to be true” because the person
behind the scene are those who are really expert in
convincing and mesmerizing people with their offer.
Without proper prevention and safety, we might be
trapped with the fraud known as a Romance Scheme.
expenses will be paid by him/her.
o Once the parcel arrived, someone
from the delivery services who
sounds professional will call the
victim to collect the parcel.
However, the victim must pay some
amount of money to get the parcel
as part of legal fees.
o At the end, the victim realized that
he/she won’t receive any parcel
but the fraud delivery services may
collect the payment that they have
made.
o For love kind of relationship,
most of the subject will use his or
her own seduction to attract the
victims. Some of the subject easily
confessed that they are in love with
the victims at instant.
o In order to prove their love to the
victims, they will send a parcel.
o Most of the time, the subject will
use victim’s legal address to ensure
that their parcel will arrive at the
foreign country seen as legal by
law. At the same time, it helps to
facilitate the transfer of goods
that were purchased on-line by
fraudulent means.
Probably, you will become a victim if the answer is YES
for most of the questions:
Are you wondering if the person that you are
talking to is too good to be true?
Are there things that you were being told but
don’t make sense?
Did the person found you on a single site and
start professing their love in a short period of
time?
Did they tell you that they were currently
working or living in a foreign country?
Are they telling you that they are having trouble
cashing their paychecks?
According to the website of Looks Good to Be True
(www.looksgoodtobetrue.com), the romance scheme
via internet is done via two kinds of approaches;
namely the “reshipping” scheme and the mail order
bride scheme. However, this article will only cover on
the “reshipping “scheme which is frequently happened
recently. In this type of scheme, one of the most
influential approaches used are through friendship and
love relationship.
Friendship or Love
Overall operation of this scheme starts when the
unknown subjects who are staying in a foreign country
such as United Kingdom or European countries trying
to manipulate a person mostly woman for their own
purposes in order to receive packages which are usually
delivered by using shipment courier. Most victims are
normally being trapped with “Friendship” or “Love”
kind of relationship via online socializing network.
• Purpose: Making friendship
online
or cyber romance
How it works;
o The subject tells the victim that he/she is
having trouble to make certain transactions
in his or her country. The story will be told
in ‘sad’ mood manner.
o The subject will ask victim’s permission to
send a parcel which is said to contain legal
items to the victim’s country.
o The subject will tell the victim that all
14
Tips
So, can we avoid such things to happen to us?
Yes we can, with an education, good judgment,
and a healthy dose of uncertainty are the best
defenses against becoming a victim. There is
no exact answer because we will see thousand
of fraud schemes appear from time to time.
However, with some knowledge , you may be
able to detect which one is fraud and which
one is real. Remember, if it seems too good to
be true, then it probably is!
References:
i d i o m s . t h e f r e e d i c t i o n a r y. c o m /
too+good+to+be+true ,thefreedictionary.com
retrieved on 17 October 2012 12 00
http://www.lookstoogoodtobetrue.com/
fraud.aspx
World Trade
Organization (WTO)
– An Introduction
By: Nik Fazlin Hiryati Nik Jaafar and Sakinah Mat Zin
World Trade Organization (WTO) is a self-governing
international organization at its world- status which
fundamentally observes the trades that take place in
the entire world. To replace the early multilateral
agreement called General Agreement on Tariff and Trade
(GATT), WTO was established in January, 1995 This GATT
comprised the rules in trading product internationally
so as to uphold fair and free trading circumstances
when two or more countries tie a trade contract. WTO
activities are advocated by a Secretariat of some 700
staff and lead by the WTO Director-General. Located
in Geneva, Switzerland, the Secretariat communicates
using three official languages i.e. English, French and
Spanish.
WTO was an improvement of GATT as world’s economy
becomes more and more intense. . The critical
objectives of this recently improved agreement are
to promote transparent, free and fair international
trading practices. Not only that, the organization must
also be equipped to be of help in any trade dispute
or unfair trading treatment. The renaissance of this
WTO is resulted from many negotiations accomplished.
The negotiation is known as ‘the round’. Prior to its
presence, the history is coming long way from 1986–
94 negotiations called the Uruguay Round and earlier
negotiations under the General Agreement on Tariffs and
Trade (GATT). In 2001, under the ‘Doha Development
Agenda’, WTO is the host of the new negotiations
among countries across the world.
Appreciating ing WTO could be from various means
s. It is an organization that opens ways for countries
to do better commerce activities. From government
point of view, WTO is an avenue for them to achieve
a negotiation as to come out with acceptable and
competitive international trade policy and agreement.
Should there be any trade disputes or conflicts, WTO
would be the place the countries ask for an intervention
and favor in settling it out. Agreements and clauses discussed d and signed through
WTO are transparent and predictable. Hence, it will
promote and increase the confident level and trust
among the individuals, companies and governments.
Undesirable side effects also will be avoided besides
upholding the smooth and safe flow of the trade. Every
country in this world agreed on this as it is imperative for
the continuous economic development and well- being.
All countries will respect and honour any trade
agreement negotiated and signed through WTO. Not only
the agreement dealing with goods and services, but also
extended to intellectual properties aspect. It highlights
the legal basic rules for international commerce
that binds the member’s government to keep their trade
policy and rule within agreed boundaries. Thus, there will
be cross-benefit to international trade stakeholders- the
government, the goods and services producer, importers
and exporters. As of April 2012, the organization has 157 country
members and Malaysia is one of them since 1995. WTO
‘observers’ is the name given to countries that are yet
member and currently having an ongoing negotiation for
the membership. The membership hold means Malaysia
is part of the system and abides to it. This also about
balance of rights and obligations whereby country
members benefit from the privileges that other membercountries give to them and the security that the trading
rules provide. In return, they had to make pledges s to
open their markets. Any concessions granted by a country
member to any other member, will also be accorded to
Malaysia. This is kind of win-win situation offered by
WTO. As a country member, Malaysia earns many advantages
and benefits as it provides a platform to have fairness and
flexibility in continuously struggle for better economy
climate. With that also, Malaysia could be proud with
great performance and growth of its export and import
activities. Moreover, being a member also offers
Malaysia with well- rewarded opportunities and access
to international commerce. WTO has provided diverse
activities in building capacity of developing country
government officials in international trade matters. For the future outlook, the world needs more wellorganized trade across international borders as to
promote all- the government, exporter, importers
and more importantly the larger community which is
consumers. Trade facilitation and support lead by WTO
would result in significant betterment to the world’s
economy.
References:
http://www.wto.org/
http://www.miti.gov.my
15
The Application of Bai’ Muzayadah
in Islamic Capital Market
By: A’tiqah Rashidah Abu Samah, Raslina Mohamad Noor,
Noormalinjasari Ali
In Islamic capital market, some of the Principles of Muamalat
currently being used are quite different from those of Islamic Banking
System. This paper is aimed to show how one of the Shari’ah contracts
underlying the transactions is being applied in Malaysia.
The Shariah Advisory Council (SAC) of Securities Commission is the highest
authority in dealing with the issues and challenges in Islamic capital market
in Malaysia. In its meeting on 16-17 October 1997, the SAC discussed the
concept of Bai’ Muzayadah (open-bidding trading) and passed a resolution
that it was permissible according to the Islamic jurisprudence. Since then,
the principle has been used widely as a reference to develop instruments
in the Islamic capital market in Malaysia.
Bai’ Muzayadah is the offering of goods for sale in a market by a seller
followed by demands from buyers who compete to offer the highest
price. This process ends when the goods are sold to the highest bidder
similar to an auction. This principle is very relevant in many issues in
the Islamic capital market, especially those related to the behaviour
of market participants profiteering from price differences whether
in equity market or bond market. Thus it is used as an argument to
permit speculation so long as it is not contrary to Shari’ah principles.
However, there exists argument in the permissibility of Bai’ Muzayadah.
The majority viewed it as permissible by Shari’ah, while the minority
thought otherwise. The main reason for the difference in opinion was
the interpretation of the hadith of the Prophet s.a.w., which prohibited
bidding on another person’s bidding (saum ‘ala saum akhihi).
AI-Kasani and Ibnu Humam, two jurists of Hanafi mazhab, said that
Bai’ Muzayadah is not prohibited because the Prophet s.a.w. himself
practised it in the selling of war booty. In addition, Ibnu Juzaiy, a jurist
of Maliki mazhab permitted this principle because it is different from
bidding on another person’s bidding which is forbidden, and there is no
element of unfairness in choosing goods. Meanwhile, Ibnu Qudamah,
a jurist of Hanbali mazhab, stated that Bai’ Muzayadah is permitted
accordingly to ijma’ based on what was practised by the Prophet S.A.W.
Patrons
YBhg. Assoc. Prof. Dr. Abdol Samad Nawi
Assoc. Prof. Dr. Baharom Abdul Rahman
Assoc. Prof. Dr. Mazidah Puteh
Advisors
Dr. Siti Haryati Shaikh Ali
Fathiyah Ismail
Siti Fatimah Mardiah Hamzah
Chief Editor
Azyanee Luqman
Editors
Sakinah Mat Zin
Wan Maziah Wan Ab. Razak
Nurmuslimah Kamilah Abdullah
A’tiqah Rashidah Abu Samah
Nurul Syuhada Baharuddin
Suhaily Maizan Abdul Manaf
Nur Hazwani Mohamad Roseli
Erratul Shela Eshak
Marha Abdol Ghapar
Hanani Ahmad Fuad
Nur Hayati Abd Rahman
Tismazammi Mustafa
Layout & Graphics
Abdul Rani Jusoh
Application of Bai’ Muzayadah Principle: Malaysian Experience
The SAC at its eighth meeting on 9 June 1997, agreed to the structuring
of the Islamic benchmark bond, also known as Khazanah Bond. This
Khazanah Zero Coupon Bond is government guaranteed bonds. It
applies the same process of issuance like other types zero coupon
bonds. However, what makes it different is that the discount price
is market determined through a bidding process (Bai’ Muzayadah).
The main function of the bond is as a benchmark for corporate bonds
to be issued. Here, the selling price will only be known through a
tender process by bidding using the Bai’ Muzayadah principle (bidding
or bargaining). The principle of Bai’ Muzayadah allows the market
player to obtain the true market value of the assets sold. The seller,
Khazanah Nasional Berhad (KNB) is considered as the most suitable
corporate institution for issuing the Islamic benchmark bonds since it is
the Malaysian government investment arm corporation that manages
the assets of Malaysian government. Investment in any instruments
issued and guaranteed by government is considered less risky by the
investors. Therefore, many financial institutions are willing to buy
the assets in cash whenever KNB open tenders for the purchase of
the assets in the capital market. KNB then will choose the best price
offered by the bidders at the lowest cost and also with high liquidity.
The bidding process allows the bond to be priced according to the
forces of demand and supply so as to produce a yield (profit rate) that
can be used as a benchmark for the local bond market.
Reference
Securities Commission Malaysia (2007), Resolutions of the Securities
Commission Syariah Advisory Council, 2nd edition, Kuala Lumpur.
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