THE PRACTICS OF BUSINESS ETHICS AMONGST OGBETE MAIN MARKET TRADERS ASSOCITION

(Business Administration and Management)

THE PRACTICS OF BUSINESS ETHICS  AMONGST OGBETE MAIN MARKET TRADERS ASSOCITION

TABLE OF CONTENTS

CHAPTER ONE

INTRIDUCTION

1.1         GENERAL BACKGROUND OF THE SUBJECT MATTER

1.2         PROBLEM (S) OF STUDY

1.3         IMPROTANCE OF STUDYING  THE AREA

1.4         DIFINTION OF IMPORTANT TERMS

1.5         CHAPTER REFERENCE (USING APA METHOD)

CHAPTER TWO

LITERATURE REVIWE

2.1         THE  ORIGIN OF THE SUBJECT

2.2         SCHOOL OF TEOUGHT WITHIN THE SUBJECT ARREA

2.3         SCHOOL OF THOUGHT RELEVANT TO THE PROBLEMOF STUDY

2.4         DIFFERENT METHOD OF STUDYING THE PROBLEM

2.5         SUMMARY

2.6         REFERENCE

CHAPTER THREE

CONCLUSION

3.1         DATA PRESENTATION

3.2         ANALYSIS OF THE DATA

3.3         RECOMMENDATION

3.4         CONCLUSION

3.5         REFERENCE

CHAPTER ONE

INTRODUCTION

1.1         THE GENERAL BACKGROUND OF THE STUDY:

Market Trading Association comes into being in Nigeria between the late 1960s and 70s during this period the country had what is called “Organized Trading or Selling”. The purpose for the formation of these trading organizations was to ensure a fair and equitable dealing between members and customer. To support and help members during time of crises.

To get amenities from the government and to check arbitrary increase in price, and sale of poor quality fake product.  

However, the Ogbete Main Market Traders Association (OMMTA) was formed and registered in 1974. The head office or secretariat is located at  block P1 Ogbete Main Market Enugu.

The component of OMMTA includes: The Old Motor Park, the Rail-Line, the public toilet between Mgbemena Street and commodity section.

In other hands, the Association -OMMTA has smaller association that function as a unit. And this smaller association is divided into four major commodity zone, which derive its name from the type of commodity deal on. The membership is open to all commodity zone, any member is free to belong to the association. Membership can be refused based on rules.

Furthermore,  the office or position available in this association includes: the president, the Vice President,  Secretary, and assistant, financial secretary, assistant financial secretary, P.R.O., Provost, circular bearer, Patrons, Legal adviser etc.

Currently,  the president of the Association- OMMTA is chief O.C. Peters Okorye.

THE AIMS AND OBJECTIVE OF THE ASSOCIATION INCLUDES:

To engender and foster the spirit f love, oneness and brotherliness among members.

To encourage and promote the interest and well-being of the members

To promote generally the moral, social, commercial and educational well-being of the members,

To mediate between traders and the government on issue effecting them.

To collect and disseminate information on commercial and industrial matters among member and to promote legislation in the interest of the member.

On the contrary, any member who vayoilet any of these rules and regulation could receive any of the following punishment, payment information fines, loss of memberships, prosecution, legal action etc.

The rules includes; sell of take and adulterated goods and service, stealing, fraud, embezzlement  fighting, subversive activities, cheating  of member or customers, etc.

1.2         PROBLEM(S) OF STUDY

On a daily bases, careers are required as business people as required  by law. So much of this is necessary, the result of ignorance and certain altitude toward the law.

Unethical behaviour has been condemned many people who see it as little more than swindles and thieves. Even today, many trade press customers, government and the general public critics this   subject.

Ethical practices requires great resources:

 Human, material, financial but on the long run, its result out weight this cost. The customer relation is one of the major problem of study in this subject. In recent times, there has been an increased interest in ethical issue in the country. Especially as it concerns market trading association or unions market trading association have been accused of conniving within theme to increase prices of goods and services arbitrarily, even when the increase may not be necessary. Apart from arbitrary increase prices, they also collude within them to fix prices without any bases which each member must charge for his goods or services and this may not be in the interest and well being of the customers.

Market trading association have also been accused of creating artificial scarcity of goods and services, when in actual fact, this may not be the case. They create artificial scarcity either by a outright hoarding of goods and services or by   determining which commodity zone should sell on a particular deny and the quantity to be sold each day.

International cheating of customers, embezzlement and fraud are no longer under check by market trading association. People who are involved in fraud, especially the advance fee fraud popularly known as “419” are given recognition these days.

There has been also noticeable increase in the sale of take and adulterated goods and services, most especially, drugs and food products.  Fighting and stealing within our market plaintiffs ales are no new things.

All these have not been adequately addressed to by market trading associations, and have accumulated to the point where any one can hardly be trusted. And this is not good for the business people and trading association in particular.

With all these problems arising in the recent time, the importance of code of ethics and its adherence by trading association can not be over emphasized.

 

1.3         IMPROVING ON BUSINESS ETHICS

Since the early 1950s, the most popular orientation or philosophy that has pervaded thought and motivated decisions and actions among business people is the marketing concept. This managerial focus is of the vie w that the major task of business is the identification of consumers’ needs and want and the development of product that will help to satisfy the needs effectively and efficiently simply put, according to this concept, the satisfaction of the consumer is the overindulge goal of business. This put the consumer in the position as king in marketing activities the marketing concept led to the adoption of the concept of sales morality in sales management.

Sales morality focuses on the consumers’ interest rather than those of the salesmen and organization. A sale that does not benefit the customer will end up being a “one time” business be cause a customer which was once deceived will be more careful next time the salesmen is around.  

The inadequacies of the marketing concept of the marketing concept point to the need f or business people to broaden their views. The satisfaction of the consumer and encompasses the social costs and post consumption effects of products.

In order words, market has to be true and satisfy consumers in a holistic manner as well as ensuring the welfare of the society.  Where market/business fails to protect their consumers, the results are consumerism. This means that consumer will do anything to protect themselves against injustice of business people. Government can also do the same by  means of formulating policy, law or decree to regulate the activities  of the business people.

 

1.4         IMPORTANCE OF THE STUDY AREA  

The importance and benefits of business ethics can never be down played the consumers would be among the first group that would gain from the benefit of this research. For the consumers, the rampant cases of health hazard/problems would be drastically reduced, which most of the time are as a result of intake of take and adulterated, expired products. The arbitrary increase in price of goods and services and artificial scarcity of goods and services due to hoarding, will no longer be experienced by  consumers  there would be mutual trust between the individual traders and customer and reeducation in general dissatisfaction.    

On its part, market trading association will benefit immensely from the investigation, as there would be less government interventions with policies, edicts, and law which may not be in their interests.

The ordinary trader in the market place would also gain from the study.  There would be repeat purchase for the trader’s goods and service, customer loyalty, which will lead to increase in sales, profit and growth, and most importantly attainment of ultimate objectives.

The government and the general public would not be left out from the benefit of the project consumerism; the peaceful or violent demonstration by consumers would no longer be noticed. The atmosphere would generally peaceful, the environment clean, and there would be a substantial growth in the nation’s economy which is the over-riding goal of any government.

1.5         DEFINITION OF THERMS

BUSINESS

Business consists of all legal actives aimed at providing goods and services for human satisfaction at a profit. It is all the legitimate transaction between people in ether to benefit one another.

 

ETHICS

Ethics is the moral or standard of behaviour. It is the right or wrong action of individual or Organizations.

 

MARKET

Market is the set of actual or potential buyers of a product. Market is also a place where buyers and sellers of product gather to exchange their tittered values.

 

ORGANIZATION:

Organization is an entity which stands for a group of people working in a concerted or co-ordinated effort in order to attain objectives.

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