THE FINANCIAL PROBLEMS OF NIGERIAN BREAD INDUSTRY. (A CASE STUDY OF FREEDOM BAKERY ENUGU – NGWO 1995 – 2005. A CASE STUDY OF FREEDOM BAKERY ENUGU – NGWO, (1995 – 2005). A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
This research work was aimed at list for creating ideas on how to amend financial problems of Nigerian Bread Industry. Using freedom bakery Enugu-examined the commitment of the bakery service and better advice in the appropriate of the quality of financial service to be used so as to increase the financial sector of the freedom backery industry.
– Other objectives are to determine how this financial service quality helps to generate patronage for the bakery.
– To determine how reliable is the financial service system of the bakery.
– And determine how long is taking freedom bakery in it’s term of financial problem to still produce it’s product.
– To achieve this, directly related literature was reviewed.
Also questionnaires were distributed to both the management and staff of the freedom bakery and their responses as well as to collect data to test the hypotheses for the study.
The population of this study is restricted to the relevant staff / management which is about (100,000) Hundred thousand. The sample size was determined (Three Hundred and Ninety-eight).
In analyzing the research instrument used, chi-square method of statistical analysis were used to analyse and test of hypotheses.
The findings of the study are as follows:
– Payment of salary in freedom bakery has helped in generating patronage to the bakery.
– Raw materials delivery system of the bread industry is reliable.
– The transportation system of freedom is adequate to customers.
– More than half of the customers that filled the questionnaires administered to them felt that the staff of the industry are not friendly.
– The productivity of industry staff depends not only on the monetary compensation but also on how their efforts are appreciated and enhanced
– Precisely 89.32% of the customers believed the industry has really lived to its promises.
Based on the above findings, the following recommendations were equally made:
– the performance of freedom bread industry can indeed be enhanced if the perceptivity in service delivery is maintained and improved upon.
– The staff of the industry are human and through the industry is trying to have a firm standard in the industry, a lot should be done to ensure that the time staff spend in working does not totally wear them out thereby leaving nothing left in them to improve productivity.
– The policies establishing quality and which is a guide to quality assurance department should be constantly referred to meet up their ever-changing environment of business, technological change and human unpredictable factor.
– The industry should maintained its stand as relates in profitability, performance and quality service delivery, it should leave no stone unturned.