Journal of Management Information and Decision Sciences (Print ISSN: 1524-7252; Online ISSN: 1532-5806)


The Role of Stock Prices Cycles in Forecasting Inflation in Nigeria

Author(s): Ucheaga E. G., Omankhanlen A. E., Olokoyo F. O., Isibor A. A., & Ehikioya B. I.

The modern world makes high demands on specialists in any field, which requires improving the management tools of educational organizations. Education management in each country should be based on the specifics of educational services in a specific institutional environment. The aim of the study is to identify the relationship between the institutional environment, the specifics of educational organizations and the model of their management based on national peculiarities in socio-cultural characteristics. The methodological basis of the study is a combination of theoretical and scientific methods: analysis, synthesis, systematization and comparison, theoretical and logical generalization. In particular, the following methods are used: generalization and scientific abstraction. They are used to identify the relationship between socio-cultural characteristics of society, its institutional environment and the concept of management of educational organizations. System and structural method and comparative analysis are used to select and compare the countries of Western Europe, East-Central Europe and the countries of the former USSR. It is important to identify peculiarities of national cultural characteristics in these countries. Systematic and situational approaches are chosen to interpret the results of the analysis. Two main approaches to the management of educational organizations are identified. The first one is based on the theory of general management, the second one - on the specifics of educational services. The usage of the second approach is substantiated. The influence of institutional factors on the management of educational organizations was taken into account. The acceptance of the institutional environment as a factor that determines the specifics of education and management in education is argued. The essence of the institutional environment, formal and informal institutions is determined and their connection with the socio-cultural component is proved. Based on the analysis of data from different countries, collected in G. Hofstede's 6-D model, we tasted the hypothesis of differences between sociocultural characteristics of Central and Eastern Europe, the former Soviet Union and Western Europe. It has been proven that in countries with a high Power-Distance Index (PDI), a low level of Individualism in society (individualism versus collectivism IDV) combined with high control over the satisfaction of desires (IVR-indulgence versus restraint) is dominated by central management of educational organizations of the state. The ministries of education and governments have the main leverage of management influence. Specific features of this concept of management are centralization of management, vertical connections, subordination of subjects of management, absence of direct communication university-business; strictly stratified system of financing of educational organizations. Continuation of research concerning the impact of the institutional environment on the educational process is very promising. It goes about scientific perspective and solving applications of improving the management of educational organizations in order to meet the needs of all stakeholders in the educational process.

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