THE ROLE OF EFFECTIVE IMPLEMENTATION OF ORGANIZATIONAL POLICIES ON THE PERFORMANCE OF NIGERIA, BUSINESS (A CASE STUDY OF FIRST BANK PLC ABAKALIKI)
This research project was embarked upon to study the role of effective implementation of organizational policies on the performance of Nigerian businesses: A case study of First Bank Plc Abakaliki.
The researcher used survey research method in carrying out the research. A sample size of 80 was selected from the population of the study.
In this three hypothesis were formulated which include among others that extremely impact on the implementation of organizational policies. The researcher tested and analyzed these hypotheses and their results were extensively discussed. Also percentages and tables were used to analyze the data while chi-square was used to test the hypotheses.
Several findings were made in this research which include among others that through the activities of First Bank Nig. Plc Abakaliki that they adhere strictly to their policies.
Finally the research recommended that workers should be effectively supervised to ensure that the objectives of policies are fully realized.
TABLE OF CONTENTS
1.2 Background of the study
1.3 Statement of problem
1.4 Purpose of the study
1.5 Research hypothesis
1.6 Significance of study
1.7 Scope of the study
1.8 Limitations of the study
1.9 Definition of term
CHAPTER TWO –
2.2 Defining and explaining organization
2.3 Principles of organization
2.4 Types of organization
2.5 Policy Defined
2.6 Sources Of Policy / Characteristics
2.7 Level Of Management That Makes Policy
2.8 Functions Of Policy
2.9 Shortcomings Of Policies
3.1 Instrument for data collection
3.2 Area of study
3.4 Determination Of Sample Size
3.5 Sources of data
3.6 Method of data analysis
4.1 Data presentation and analysis
4.2 Presentation and analysis of data
Summary Recommendations and Conclusion
5.1 Summary of findings
Organizational policy derives from and is meant to guide the work of managers. Consequently, there is the need to keep its dissension within the context of this background. This will facilitate understanding as it underscores its importance. Management has been defined as the process of getting things done by the through others (Hicks and Gullet, 1981) others see it as the process by which organizations resources of men, material and money are combined in such a way that the goals and objectives of the organization are realized in an effective and efficient manner (Akpala 1990) said that mangers are those who are in the helm of affairs of any organization.
They ensure that the goals and objectives of the group are realized using the resources of the organization. Following the above discussion, there are two classes of person in organization. They are operatives on the one land and managers on the other operatives are those who do the jobs. For instance, doctor who treat patients, accountants that keep books, teachers who impact knowledge etc managers one those who direct and supervisor the work of the top operatives.
Consequently, the work of managers is different from the work of operatives. Managers perform what are called managerial functions and they include planning, organizing, directing and controlling.
A careful examination of these functions will reveal the process of decision making inherent in them. Decision-making is thus seen as the key to the effective performance of managerial functions and by extension the work of management. Decision-making, which is defined as the process of making judgement after all, the alternatives are considered, therefore becomes central in the life and work of managers. To further give credence to this background, Thomas (1976) defines organizational policy as the study of the nature and process of choice as to independent enterprises by those upon whom falls the responsibility of decision making. Three broad issues, which constitute the focus of organizational policy, become apparent here. The first is the climate to be made. The spectrum of choices to made ranges from diversification through growth to even the extreme situation of ceasing to exist. The next issue borders on the process of making the choices. This has to do with the standard treatment within organization and its continued interface with its environment. And finally is the decision makers themselves.
Analysis of the forces that impact on their decision-making ability will have to be carefully undertaken.
1.2 BACKGROUND OF THE STUDY
FIRST BANK OF NIGERIA: AN HISTORICAL OVERVIEW
In the early 1890s, Elder Dempster Limited set up a small cash agency to cater, in 1894, the bank of British West Africa Limited was formed to take over the cash agency and to provide full banking services. Later, branches were opened in the Gambia, Sierra Leone, Gold Coast (No Ghana), Nigeria and Cameroon. In 1959, as tractions because self-governing, the name was changed to Bank to West Africa Limited.
Few years later, it was found that west Africa was developing so rapidly that bank was scarcely big enough to provide the huge sums of money required for the task of nation buildings. It was therefore arranged that Bank Limited. London would form one way large bank so that all Africa could benefit from their combined resources and so in 1966, the name of the bank was changed to Standard Bank of West Africa Ltd. This merger created a group of Banks in Africa with over 1,000 branches and more than 20,000 staff.
Later the Standard Bank became a member of a group with branches in Africa, simple the middle and Far East and America. In 1969, the Nigerian operation set up a Head office in Lagos upon incorporation as a Nigerian company its name being changed to Standard Bank Nigeria Limited.
In 1979, the name again changed to First Bank of Nigeria Limited to reflect the ownership structure of the bank. After federal government’s divestment in 1992, the bank became a public liability company – plc.
On 30th January 1993, the federal government purchased majority shareholding in the bank, which therefore became a Nigerian bank, but it remained associated with standard chartered group. The resultant shareholding was as follows:
Federal government of Nigeria 44%, standard chartered 39%, other Nigerians 17%.
However, the federal government shareholding in the bank was sold to the public in December 1992. The resultant shareholding structure them became Nigerian public 61% and standard chartered group had to reduced its holding to 10% in 1994 to conform to the British government policy of not having a large holding in a foreign company. The shareholding structure now is 100% Nigerian.
1.3 STATEMENT OF PROBLEM
Implementation of organizational policies are faced with a lot of problems. These problems are outlined below:
One of the problems facing implementation of organizational policies is the inability of many organizational to draw up policies that are capable of standing the task of time.
Another problem facing implementation of organizational policies is the incomplete, haphazard and uncoordinated manner by which most good policies are implemented in Nigerian organizations.
Bureaucracy and unnecessary delays are problems facing implementation of organizational policies. This is recipient in government owned organizations where implementations of policies are based on what government officials get not them. The last problem facing the implementation of organizational policies in Nigerian organization is that most managers saddled with implementation of thee policies do not posses the necessary qualification and experience to experience the task they are saddled with.
1.4 PURPOSE OF STUDY
This research study is expected to achieved the following objectives, they are:
i. To identify whether First Bank Plc adheres to the stated organization policy?
ii. To ascertain how effectively implemented policies will foster a favourable management decision-making.
iii. To identify if implemented policy has an impact on both the employers and employees?
iv. To determine whether implemented policy gives a feeling of confidence to the entire members of the organization.
v. To ascertain how effectively implemented policies will anticipate future business conditions and situations and resolve how they will be done with.
vi. To see how this research study will help organizations drw up policies that are capable of standing the waste of time.
1.5 RESEARCH HYPOTHESES
The following hypotheses are to be tested the course of this research.
i. Ho: Organizational policies whose implementations are well
coordinated will not ensure performance of Nigerian business.
Hi: Organizational policies whose implementations are well
coordinated will ensure performance of Nigerian business.
2. Ho: Organizational policies will not allow for clarifications of
management incorporates and philosophies.
Ho: Organizational policies will allow for clarifications of
management incorporates and philosophies.
3. Ho: Externally imposed policies like government actions and trade unions do have impact on the implementation of organizational polices.
1.6 SIGNIFICANCE OF STUDY
This study is of great significance because of the important contribution of organizational policies to the growth and success of Nigerian organizations.
Due to the minimal academic research on the effective implementation of organizational policies on the performance of Nigerian, a research of this magnitude is needed to enlighten Nigerians more especially these saddled with the management of organizations.
This research is also significant because of its contribution to the field of knowledge.
1.7 SCOPE OF STUDY
Organization abounds in Nigeria and choosing the one to study was quite problematic. But after all considerations, First Bank of Nigeria, Abakaliki branch was chosen for this research.
Time constraints dealt of data and financial constraints were the problems the searcher encountered in the course of this study.
1.9 DEFINITION OF TERMS
The act or process of organizing, the state or the manner of being organized for some end of work.
Management can be defined as the process combining and utilizing, or of allocating an organizations inputs (men, materials and money) by planning, organizing, directing and controlling for the purpose of outputs (goods and services or whatever the objects are) desired by customers so that the organizational objectives are accomplished.
Commercial activity engaged in as means of livelihood, a trade, profession line or occupation.
A planned or agreed course of action usually based on a particular principle.
Mission is actually the broadest and the highest level of an organization’s purpose. It tells what such a company is offering the society either a product such as a car or service like laundry.
According to your question, what is organizational policy like author.
Organization is ability represents a group of people who are bound together for unity of action and for the achievement of a predetermined objective, through organization, individual efforts are co-ordinated to achieve a common goal. It is a process of giving an organization a design, a form, skeleton or frame work and maintaining that form, structure or frame work.
In management literature the term policy has various meanings, many practitioners and author equal it with strategy, it interchangeably with an organization culture mission or purpose and level with purpose mission and culture.
Robinson J. R. (1991) policies are directives designed to guide the thinking decisions and actions of managers and their subordinate in implementing a firm’s strategy.
Policy is a guide to actions or decision of people, is a directive issued from a higher level of authority and provide continuous frame work for the behaviour or conduct of individual sin a business or expression of a company’s official attitudes toward types of behaviour or with which it will allow employees to act.
The research question for this project include the following:
1. To what extent can organizational policy bring about the growth of business activity in first bank?
2. What are the necessary policies that when implemented will bring about organizational success?
3. To what extent can policies help management plan for the future?
4. How can organizational like first bank overcome the problems associated with the implementation of organizational policies?
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