AN APPRAISAL FOR THE APPLICATION OF MANAGEMENT BY OBJECTIVES IN FINANCIAL INSTITUTION (A CASE STUDY OF UNION BANK OF NIGERIA PLC OKPARA AVENUE BRANCH ENUGU). A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
The focus of this project is to appraise the application of MBO Programmes in the affairs of Union Bank of Nigeria Plc, Okpara Avenue Branch, Enugu.
The programmes of MBO has been inadequately applied in Union Bank, Okpara avenue branch and his due to ignorance of the employees of the benefits that accrue to such full application.
Four research question and hypothesis guided this study, one hundred and twenty (120) officials comprising the senior ands junior staff were interviewed.
The questionnaires were structural in such a way as to elicit information for the stated hypothesis in the study.
Despite the benefits of MBO Union Bank Plc Okpara Avenue has not come to grip with this concept., Results of the study shows a clear abandonment of MBO y Union Bank Plc Okpara Avenue staff.
Conclusions also arrived at indicating that Union Bank do not apply MBO in carrying out organisational policies.
The focus of this project is to appraise the application of Management by objective (MBO) Programmes in Financial Institutions in Nigeria.
Management by Objective is a system whereby the Objective for company as a whole is dedicated upon by the management and subordinates to achieve the Organisational goal.
The Scope of this study will attempt to evaluate the effective application of management By Objective in Union Bank Okpara Avenue Branch, Enugu
Research questions and hypothesis will guide this study. Also Officials comprising the senior and juniors staff will be interviewed. Thus will be done through random section. The volume of this work will be up to eighty pages (80).
The questionnaires will be structured in such a way as to elicit information for hypothesis. Thus work will be structures into five chapters.
1.1 BACKGROUND OF THE STUDY
In Nigeria, Financial Institution are those institutions that make available to customers short term, long term and other credit instruments for investments and other purposes.
They also accept deposit, valuables and perform other functions. An excellent example is the Banking Industry.
The Nigerian Banking Industry started in 1892 when the Africa Banking corporation was Incorporated. This was followed by the establishment of Barclays Bank of Nigeria Plc.
The Union bank of Nigeria Plc is among the First generation Banks in Nigeria. It was incorporated In Nigeria Companies and Allied Matter’s Decree of 1990 as other many public liabilities Companies. The Union Bank of Nigeria Plc is the first of the First generation Banks to be wholly own by the Nigerian public. At present, there are about 300 branches all over Country with the headquarters at Broad Street Marina Lagos.
The role of Union Bank in economic development of the Nation cannot be over emphasized. These services rendered by Union bank manager from Ordinary Mobilization of saving to the more sophisticates and not too common business advisory services, Bank generally are regarded as provides of loans which indirectly entails the creation of money and extention of credit facilities. An organisation that that trades principally in money requires honesty as a watch –ward.
Union Bank is tailored towards customers satisfaction in the rendition of new services.
An organisation such as Union Bank Plc that thrives on trust and honesty of this staff for discharge of new services must seek an effective and impartial way of rewarding its employees. Also the efficiency of the service rendered by the Bank depends on the management approach adopted by the Bank.