THE ROLE OF ASSET MANAGEMENT ON

ECONOMIC GROWTH

CHAPTER ONE

INTRODUCTION

1.0. Introduction

In this chapter the researcher will discuss the following aspects about the asset management and
economic growth which will be: background of the study, problem statement, purpose of the
study, research objectives, research questions, scope, significance, operational definitions and
conceptual framework.

1.1 Background of the Study

globally, a country's economic growth may be defined as a long-term rise in capacity to supply
increasingly diverse economic goods to its population, this growing capacity based on advancing
technology and the institutional and ideological adjustments that it demands. All three
components of the definition are important. The sustained rise in the supply of goods is the result
of economic growth, by which it is identified. Some small countries can provide increasing in-
come to their populations because they happen to possess a resource (minerals, location, etc.)
exploitable by more developed nations, that yields a large and in- creasing rent. Despite
intriguing analytical problems that these few fortunate countries raise, we are interested here
only in the nations that derive abundance by using advanced contemporary technology not by
selling fortuitous gifts of nature to others. Advancing technology is the per- missive source of
economic growth, but it is only a potential, a necessary condition, in itself not sufficient. If
technology is to be employed efficiently and widely, and, in- deed, if its own progress is to be
stimulated by such use, institutional and ideological adjustments must be made to effect the
proper use of innovations generated by the advancing stock of human knowledge. . To cite
examples from modern economic growth: steam and electric power and the large-scale plants
needed to exploit them are not compatible with family enterprise, illiteracy, or slavery all of
which pre- vailed in earlier times over much of even the developed world, and had to be re-
placed by more appropriate institutions and social views. Nor is modern technology compatible
with the rural mode of life, the large and extended family pattern, and veneration of undisturbed
nature. The source of technological progress, the particular production sectors that it affected
most, and the pace at which it and economic growth advanced, differed over centuries and
among regions of the world; and so did the institutional and ideological adjustments in their
interplay with the technological changes introduced into and diffused through the growing
economies. The major breakthroughs in the advance of human knowledge, those that constituted
dominant sources of sustained growth over long periods and spread to a substantial part of the
world, may be termed epochal innovations. And the changing course of economic history can
perhaps be subdivided into economic epochs, each identified by the epochal innovation with the
distinctive characteristics of growth that it generated.' Without considering the feasibility of
identifying and dating such economic epochs, we may proceed on the working assumption that
modern economic growth represents such a distinct epoch-growth dating back to the late
eighteenth century and limited (except in significant partial effects) to economically developed
countries. These countries, so classified because they have managed to take adequate advantage
of the potential of modern technology, include most of Europe, the overseas offshoots of
Western Europe, and Japan-barely one quarter of world population.2 This paper will focus on
modern economic growth, but with obviously needed attention to its worldwide impact (Kuznets,
2022).

the key success factor of the FDI contributes to the economic growth in Malaysia because of the
good environment. If the environment not suitable, it will not encourage foreign investors come
to invest. Good favorable conditions make investors face fewer problems because all investors
can run their business conveniently in order to make more profit with life safety. Few vital clues
for foreign direct investment include political stability, economic stability, lower wages, and
easy accessibility to plentiful raw material, special rights, and person safety. Long term political
stability makes foreign investors confident with their businesses will succeed and remain
profitable. Besides, economic instability like inflation, foreign exchange fluctuation and
economic crisis also another important environment factor for investor to consider because can
cause the business lose without knowing in advance. Furthermore, foreign investors try to search
the country with lower wages to reduce average cost of production and hence strongly persuade
foreigners to invest in that country. A country with plenty of raw materials necessary for the
production attracts investors more than a country without it and personal safety also vital to
foreign investors because life is more valuable than money, nobody like to take risk as being
killed or kidnapped in foreign country (Mun et al., 2009).

Foreign direct investment inflows have been one of the major development financing options
often rely upon by the developing countries particularly countries within the Africa sub-Saharan
region to drive their stunted economies to a sustainable growth trajectory. However, in the recent
times, the debates have shifted to including the degree of economic freedom as an important
mediating link towards attaining the growth success. Nigeria, like many other Africa countries,
has been enjoying the torrent of foreign direct investment inflows from the developed countries
subject to availability of certain economic fundamentals of which economic freedom forms an
integral part. Economic freedom, according to Frazer Institutes is made of five components
which include size of government (SG); legal structure and security of property rights (LS);
access to sound money (AM); freedom to trade internationally (FT); and regulation of credit,
labor, and business (RG). The diagrams below show the trends of economic freedom
components, aggregate economic freedom, total foreign direct investment and real gross
domestic product. the impact of FDI on the growth rate of output was highly constricted owing
to diminishing returns to physical capital. As such, a level effect rather than a rate effect could
only be exerted on the output per capita. In effect, the flow of FDI has no appreciable impact on
growth rate of output in the long run. Thus, with neoclassical models, FDI as a veritable engine
of growth was seriously undermined. However, with exposition on new growth theory, FDI is
capable of affecting both the level as well as rate of growth of output per capita. Literature has
clearly delineated on how FDI may potentially enhance the growth rate of per capita income in
the host country. Apart from factors like existence of human capital resources, absorptive
capacity of the host country, good trade policies, size of the market and a host of other factors
that had earlier been explained. The importance of economic freedom has been well stressed in
the emerging FDI literature. Economic freedom, according to Heritage Foundation has been
defined as „the absence of government coercion or constraint on the production, distribution, or
consumption of goods and services beyond the extent necessary for citizens to protect and
maintain liberty itself‟. Economists have long accorded greater importance to freedom to choose
and supply resources, competition in business, free trade with others and secure property rights
as representing important ingredients needed for achieving economic development. According to
Frazer economic freedom index, there are five major components of index and these include are
size of government, expenditures, taxes, and enterprises; legal structure and security of property
rights; access to sound money; freedom to trade internationally and regulation of credit, labour,
and business (Ajide, 2014).

In Africa, Generally, theoretical economic growth thinking begins with the Solow model, which
explains aggregate income by aggregate capital and labor. And because capital exhibits
diminishing marginal returns, long-run growth is explained by population growth and
technological progress, both of which are exogenous. This general model, which has been
revised to include several variables, notably government spending (infrastructure), human
capital, protection of property rights and market distortions (see Barro, 1996)

In Somalia, Economic growth is measured as the percent rate of increase in real GDP. Economic
growth (GDP) was first developed by Simon Kuznets for US congress report in 1934, who
immediately said not to use it as a measure for welfare (Yusuf, n.d.). Many researchers have
attempted to determine the impact for agricultural production on economic growth. So there is
less research carried to investigate asset management to enhance capacity of the economic
growth. Therefore, this research study seeks to investigate the factors that may influence asset
manegement and how these factors affect economic growth in Mogadishu Somalia.

Depend variable of this study will be economic growth. Economic growth per capita is primarily
driven by improvements in productivity, also called economic efficiency. Increased productivity
means producing more goods and services with the same inputs of labour, capital, energy, and/or
material (Mohammad Amin Almfraji, 2014). The neoclassical Solow-Swan (1956) economic
growth theory, also known as the exogenous growth model, advocates for the accumulation of
physical capital as an important driver of economic growth in the short run, while technological
advancement is the key determinant of economic growth in the long run. But in this study
measure Increases in capital goods and Human capital.
Independent variable of this study will be asset management. asset management definition is
responsible for major maintenance, repair and renewal decisions, as well as the long-term
strategic plans for a corporate asset portfolio. Asset management is a business process and a
decision-making framework that covers an extended time horizon, draws from economics as well
as engineering, and considers a broad range of assets. The asset management approach
incorporates the economic assessment of trade-offs among alternative investment options and
uses this information to help make cost-effective investment decisions. the asset management
tools in current use today deal with individual domain or type of facilities; for example, an
engineered management system (EMS) deals only with paving condition assessment surveys
(CAS) and CMMS may deal only with work orders and/or task scheduling. (National Research
Council Canada (NRCC), Sept. 9-12, 2001). There are many ways in which measure asset
management, but in this study will measure asset management at the side of strategic Asset
management and operational Asset management. This thesis will concentrate economic growth
Mogadishu Somalia, where is reported the economic is low, therefore that is why to address this
study

1.2 Problem Statement

Asset management process is a set of linked activities and the sequence of these activities that
are necessary for collectively realising asset management goals, normally within the context of

an organisational structure and resource constraints. asset management process patterns, based
on the outcomes of an analysis on the comprehensive and complete matrix. The effective
management of these assets (hereon referred to as asset management) is essential to the overall

success of such organization. the rising importance of asset management is being fuelled by
other factors, such as: the general ageing of assets; changing stakeholder and service level
requirements; augmented emphasis on public health and safety; and increasingly stringent
requirements set by regulating bodies. (Vladimir Frolov, 2010).
In spit of asset management in Mogadishu not reach the level needed, that may Couse the
economic to be lower and then occur Inflation, at the moment economic of Mogadishu a
reported that in inefficiency .with this problem ,Mogadishu lead more challenges as effect
economic inefficiency ,inflation, decrease profit margin ,unemployment. this research study
seeks to investigate the factors that may influence asset management and how these factors affect
economic growth in Mogadishu Somalia.

1.3 General Objectives

The purpose of this study will be to examine the relationship between asset management and
economic growth in Mogadishu

1.4 Specific Objectives

1. To identify the relationship between strategic asset management and economic growth in
Mogadishu Somalia

2. To examine the relationship between operational asset management and economic growth in
Mogadishu Somalia

1.5 Research Questions

1. What relationship does strategic asset management have economic growth in

Mogadishu Somalia ?
2. What relationship does operational asset mana have with economic growth in
Mogadishu Somalia ?
3. 1.6 Scope of the study

1.6.1. Georaphical scope

The study will be concentrated on the financial institutions in Mogadisho Somalia

1.6.2 Content scope

The study was limited raising, developing, maximize and their relation with economic growth
among financial institutions in Mogadishu somalia.

1.6.3. Time scope

the time scope of this study will be January 2024 to June 2024.

1.7 significance of the study

This study is important for government and for it provides a base for economic development. It
is hoped to be helpful for the financial institutions in Somalia, especially local Companies. As
findings and recommendations provided in the conclusion of this research, they will recognize
the extent of effect asset in their activities. This study is also useful to any potential researchers
who interest to make further study in this area as literature

1.8 Operational definitions

Asset management means operating a group of assets over the whole technical lifecycle
guaranteeing a suitable return and ensuring defined service and security standards. asset
management tasks coveaspects from technical issues like network planning or the definition of
operational fundamentals to more

it easier and faster for employee to get what they need to do their jobs successfully (Upkeep,
2005)

Economic growth defined as a long-term rise in capacity to supply increasingly diverse

economic goods to its population, this growing capacity based on advancing technology and the
economical themes like planning of investments and budgeting, and end up in strategic planning
issues (Joachim Schneider a, 2006).

Strategic asset management , Office of Facilities Management, Griffith University (2008) [1],
defines strategic asset management (SAM) as the planned alignment of physical assets with
service demand and achieved by the systematic management of all decision-making processes
taken throughout the life of the asset.
Operating asset management, together an organizations technician service ,passive active data
and unique operational blueprint to make institu-tional and ideological adjustments that it
demands. All three components of the definition are important. The sustained rise in the supply
of goods is the result of economic growth, by which it is identified. (Modern Economic Growth:
Findings and Reflections, 1973)

1.9 Conceptual Framework

This conceptual framework how the actual relationship between independent variable and
dependent variable.

Independent Variable (I1V) Dependent Variable(DV)

Asset Management

1
 Economic growth

Strategic asset management Increase in capital goods

Operational asset management Human capital

CHAPTER TWO

LITERATURE REVIEW

2.0 Introduction

The literature review section was outlined and analyzed published articles and journals written
by accredited scholars and researchers with reference to the topic that is being studied.

2.1 Concepts, Opinions, and Ideas from different authors and experts of asset management
Asset Management (AM) as discipline and business process is recently at the center of the
scientific and industrial debate. In fact, AM has been climbing top management’s priority list,
having a special concern in physical assets. i.e. those assets that exist independently from any
contract, as opposed to financial assets. During its development, the AM system view promoted
a holistic approach, leading to more attention to strategic, risk, safety and environment, as well
as human factors. Asset Management (AM) is promising for value creation from assets in the
long term. A major concern to this end relates with the capabilities to achieve effective AM
decision-making at every organizational level, i.e. operational, tactical, and strategical.(Polenghi
et al., n.d.). Asset management is defined as an integrated activity to realize value from systems
of assets. Compared to traditional maintenance engineering, despite the similar aim to enhance
the system reliability, asset management extends its focus beyond improving system safety and
reducing cost to delivering performance benefits to organizations and their stakeholders [9] [10].
Hence, in this integrated view, a decision on which asset and how it should be improved is
determined by multiple output metrics, so that the utility of the system reliability is
maximized(Petchrompo & Parlikad, 2019).

asset management is now progressively gaining considerable academic and practitioner interest
particularly in terms of exploiting the beneficial implications of BIM implementation. This is
particularly relevant for asset management organizations who see technological development as
a vehicle for delivering increased efficiency and value (Love et al, 2014). Mohandes et al,
(2014). Asset management, in context to its role within the larger field of FM, supports core
business objectives of an organization regarding the functionality of its buildings and
infrastructure (Lehtonen and Salonen, 2005; Jensen et al, 2012; Steenhuizen et al, 2014; Nical
and Wodynski, 2016). Although asset management is traditionally viewed as simply
maintenance, cleaning and general care-taking (Meng, 2014), it incorporates a variety of
interrelated multidisciplinary functions and disparate management systems, which must operate
in an integrative manner (Waheed and Fernie, 2009; Barret and Finch, 2014; Kessem et al, 2014;
Mohandes et al, 2014; Ilter and Ergen, 2015; Cao et al, 2016; Nical and Wodynski, 2016). Many
organisations are appreciating the benefits of an efficient and crucially innovative asset
management operation in a constant striving towards achieving ‘best value’ (Scupola, 2012, c.f.
Kashiwagi and Savicky, 2003; Atkin and Brooks, 2005; Jensen et al, 2014). A holistic approach
to asset management is therefore required that accounts for interdependent factors supporting
business growth, prosperity and best value such as financial efficiency (‘sweating’ physical
assets), allowances for future changes in the provision of space, and providing the best possible
environment for the organization’s core business and workforce (Atkin and Brooks, 2005;
Barrett and Finch, 2014). Whilst the integration of BIM with FM and asset management is
currently less established than the design and construction aspects of development, the potential
to extract and analyses information stored in BIM to improve FM delivery is undeniable (Bosch
et al, 2014; Kessem et al, 2014; Love et al, 2014). Deployment of digital modelling in asset
management can greatly improve the quality of data transfers between development stakeholders
(Jiao et al, 2013; Lindkvist, 2015; Khaddaj and Srour, 2016). Traditional, manual handover of
data often leads to inaccuracies (or worse, loss of data), diminishing the operational information
held on a building during its lifecycle (Lindkvist, 2015; Motawa and Almarshad, 2015; Love et
al, 2016a). Studies have shown that facility owners regularly encounter incomplete as-built data
documentation, fostering 10 dissatisfaction, particularly where transferred operations and
maintenance (O&M) data proves wholly unsuitable for asset management (Mayo and Issa,
2016). The management of information remains a vexatious and complicated issue within the
AECO sector as significant effort is invested into replicating resources and unintentionally
supporting inefficient workflows (Jiao et al, 2013; Kessem et al, 2014).

2.1.1 Strategic asset management and economic growth

strategic asset management has never been more crucial or challenging. Modern societies rely on
a well-connected system of purposeful and functional assets to maximize their wellbeing.
Economic modelling demonstrates that developing and replacing existing and often aging public
assets is an increasingly expensive process; drawing on already constrained budgets. Coupled
with this economic imperative is a growing appreciation of the importance of embedding a
consideration of the sustainability of the environment in which assets are located. Together these
elements call for a more holistic conceptualization of infrastructure and engineering assets and
how these different elements combine to provide a comprehensive system of service outcomes.
(Brown et al., 2014).
2.1.2 operational asset management and economic growth

Operational asset management describes the asset management function which deals with the
shortest time horizon, and relates to asset decision-making at its most granular level. Decisions
revolve around prioritizing which devices to target with replacements, which maintenance
activities to choose, and when is the best time to perform them. Operational asset management
follows an ongoing process in which understanding failure modes, with their probabilities and
consequences, is essential. Condition assessment is fundamental to deciding what mitigations to
apply and when. A range of testing and data collection methods are necessary to determine
which populations are in what condition. Failure modes and associated risks vary with asset type
and severity and therefore require different types of remediation

2.2 economic growth

Economic growth is a primary focus of macroeconomists, who rely on quantifiable metrics such
as gross national product or aggregate income (Feldman, Hadjimichael, Kemeny, and Lanahan,
2014). Economic development was for a long time relegated to practitioner domains, often
related to infrastructure, public health or education in poorer countries. For much of the 20 th
century, experts relied on specific outcome measures that, while policy relevant, could not be
convincingly linked to a broader picture of growth or to a longer-term pathway of qualitative
improvement in development. In some countries, increases in education did not lead to long-term
growth, for example; while in others, it seemed like growth came first and education was an
outcome.(Feldman & Storper, n.d.). Economic growth is the integration of the growth of
intermediate, capital, and labor inputs at the level of individual industrial sectors into an analysis
of the sources of growth for the economy as a whole. This integration makes it possible to
attribute U.S. economic growth to its sources at the level of individual industries (Triplett,
1991). Economic growth is generally good for welfare, but it often creates “winners” and
“losers.” And major idea in economics, Joseph Schumpeter’s creative destruction, emphasizes
precisely this aspect of economic growth; productive relationships, firms and sometimes
individual livelihoods will often be destroyed by the process of economic growth. This creates a
natural tension in society even when it is growing. One of the important lessons of political
economy analyses of economic growth, which will be discussed in the last part of the book,
concerns how institutions and policies can be arranged so that those who lose out from the
process of economic growth can be compensated or perhaps prevented from blocking economic
progress.(Acemoglu, n.d.)

2.3 Empirical Review

(Petchrompo & Parlikad, 2019) this studies on Risk sources affecting the Asset Management
decisionmaking process in manufacturing: a systematic review of the literature. The goal of this
research, grounded on a systematic literature review, is to identify which are the main sources of
uncertainty that may influence the achievement of AM system related objectives and, as such,
should be taken into consideration in a risk-informed decision-making process. Taking the
manufacturing sector as a reference, the risk sources addressed by the extant literature are
identified and mapped against a reference classification scheme.

(Brown et al., 2014). On this studies on Integrated Strategic Asset Management: Frameworks
and Dimensions. In this paper we build on the conceptualization that asset management is
embedded in organizations through the a) temporal, b) organizational, and c) spatial dimensions
as suggested by AmadiEnchendu et al. (2007) to characterise asset management in a
comprehensive way. Our research question examines how an integrated approach to asset
management might consider the whole range of interrelations and interactions of these
dimensions. It is argued asset management should address the operational management of the
asset as well as the strategic management of the asset (time dimension).

2.4 Research GAP

Therefore, this research study seeks to investigate the factors that may influence asset
management and how these factors affect economic growth in Mogadishu Somalia.
 CHAPTER THREE

RESEARCH METHODOLOGY
3.0 Introduction

This chapter explores the different methods utilized in gathering and interpreting data related to
the study by discussing choices and reasons to support them. Such choices related to: Research
Design, study population and sample, sampling techniques, data collection method, data quality
control, data processing and analysis.

3.1 Research design

A research design is the arrangement of conditions for the collection and analysis of data in a
manner that aims to combine relevance to the research purpose with economy and procedure.
Research design is the plan, structure and strategy and investigation concaved so as to obtain
ensured to search question and control variance. (Parker 2013).

This study based on cross-sectional study (also known as a cross-sectional analysis) is a type of
observational study that analyzes data collected from a population, or a representative subset, at a
specific point in time that is, cross-sectional data. This study will used descriptive statistics
which means to the gathering of information about prevailing conditions or situations for the
purpose of description and interpretation. In this type of design, the study will only describe the
role of youth participation on reducing corruption in Mogadishu Somalia... Descriptive design
selected due to limited experience of the research. Magenta (2003), There are two variables in
statisties: qualitative and quantitative research, this study will also be quantitative in deign which
means to determine a particular problem numerically. Quantitative research is explaining
phenomena by collecting numerical data that are analyzed using mathematically based methods
(DanielMuijs2004). Quantitative analysis is a method emphasizes objective measurements and
the statistical, mathematical, or numerical analysis of data collected through polls,
questionnaires, and surveys, or by ma-nipulating pre-existing statistical data using computational
techniques. Quantitative research focuses on gathering numerical data and generalizing it across
groups of people or to explain a particular phenomenon. (Okwong 2009)

3.2 Research Population

Population is a complete set of individuals, cases or objects with some common observable
characteristics (Mugenda&Mugenda, 2003). It represents a census or complete enumeration
method in which all the units are reached (Solaria, 2012).

Population divides two types: target population and accessible population. Accessible population
is the population in a research to which the researcher can apply their conclusion. This
population is a subject of the target population and is also known as the study population.
(Mohamed 2010) Target population refers to the entire group of individual or objects to which
researcher interested in generalizing the conclusion. During data collection, the researcher will
target the ministry of finance and traders in Mogadishu, Somalia. These groups will be regarded
as the target population for this type of study. The target populations for this study was 61
selected from these ministries of finance and traders in Mogadishu-Somalia.

3.3 Sample Size

A sample is a subset of a population selected to participate in the study, it is a fraction of the

whole, selected to participate in the research project (Brink 1996:133; Polit & Hungler
1999:227). Sample is a subset of a population that is used to represent the entire group as a
whole (Cherry, 2016). Sampling is the process by which a relatively small number of individuals
or measures of individuals, objects or events is chosen and analyzed in order to find out
something about the entire population from which it was chosen (Solaria, 2012).

N The sample size was 53 respondents only. The sample size determined by using Slovene's
formula for sample-size determination:

Name Frequency Percentage

head office 24 39%
director officer 21 34%
traders of country 16 26%
Total 61 100%

The sample size of this study was calculated from the Slovin’s formula given as:
Where:
n = the sample size
N = Total population
e = Margin of error
Thus the sample size was determined as shown below:
N = 61
e= 5% = 0.05
: n = 61 / [1 + 61(0.05)2] = 53
A sample of 53 will be chosen.

3.4 Sampling Techniques

This study used probability sampling because of finite and registered population. The selection
procedure of this study was simple random sampling method, so that every respondent has equal
chance of being selected. The sampling procedure of this study used probability sampling
procedure particularly, simple sample random was used to select sample. Simple sample random
is the basic sampling technique where we select a group of objects (a sample) for study from a
larger group (a population). Each individual is chosen entirely by chance and each member of the
population has an equal chance of being included in the sample. Every possible sample of a
given size has the same chance of selection (Valerie J. Easton and John H. McColl's 19993.5 3.5

3.5 Research instrument

The researcher is used questionnaire as the tool for collecting data from different participant.
Questionnaire is a technique of data collection in which each person asked to respond to the
same set of questions in a predetermined order (So udders, 2009). The reason for selection of this
tool is first questionnaire is in-expensive, second questionnaire does not require interviewer time
and third it allows respondents to maintain their anonymity and reconsider their responses.

To establish the reliability of questionnaire the researcher used method of expertise judgment as
best method of reliability after the construction of the questionnaire. The researcher approached
supervisor and other experts that have great knowledge about the topic of this study to ensure the
reliability and validity of the researcher instrument. The sample technique and procedure or
mechanisms put in place made the study possible to insure the validity and reliability as they
kicked off the biasness in the research and the advice of experts: which clearly made the research
relevant, specific and logical. In addition, a pilot test conducted respondents in order to test and
prove on the reliability of the questionnaire. To prove the validity of the data collection
instrument scale was used the validity relevance questionnaire and the total number of questions.

3.6 Research Quality

Validity refers to the extent to which data collection method accurately measures what it
wasintended to measure or to the extent to which research findings are about what they
areclaimed to be about (Saunders, Lewis & Thornhill, 2009). Generally, validity of each
question or group of questions were assesses rather than of the questionnaire as a whole. Inorder
to increase validity of the questions in this research; the research team were utilize content
validity index for the reason that the research team were construct the questions asclear as
possible, measuring only one thing at the time. The research team was provided the main
definitions of asset management and economic growth to the respondents to avoid possible
different interpretations of the main concept.
Reliability refers to the consistency in reaching the same result when the measurement is
made repeatedly. When it comes to the questionnaire pre-testing, revision and further testingof it
may increase its reliability (Webb, 2002). To increase the reliability of this researchadopted
Questionnaires were used. Before handing out the questionnaire the research teamwas doing
pilot testing with five experts including the supervisor some changes as well asreformulations of
questions and possible amendments were made as the result of that pilottest.

3.7 Data collection prosedure

During data collection, the researcher used closed questionnaire in order to collect numerical
data from study participants. Respondents were briefed about the study objectives and were also
requested to answer the questionnaire as honest as possible. The time available as well as by the
objectives of the study.
3.8 Data analysis

After the researcher collect the questionnaire from the respondents, the researcher used the
quantitative method for analyzing and interpreting data, the data b analyzed through correlation
analyze to describe the impact of asset management on economic growth by using statistical
package for Social Science technique 22 (SPSS 16) and other applications necessary during the
study. The statistical package analyzed variables by computing relative frequencies, means, and
standard deviations to produce valid and reliable data.

3.9 Limitation of study

This study has some internal limitations the major one was scope of study which focus Only
economic growth in Mogadishu Somalia , while is better to investigate all states of Somalia.

3.10 Ethical consideration

In this study researcher was preserved privacy and confidently of the respondents so as to ensure
ethics of this study, ethics are accepted principle of conduct that govern behavior with in a
society put other way, ethical principles define the boundary between right and wrong according
Thrill and Courtland (2011). According to former court of justice Potter Stewart as cited