ANALYSIS OF THE CONTRIBUTION OF INSURANCE COMPANIES TO THE GROWTH OF SME’s

ANALYSIS OF THE CONTRIBUTION OF INSURANCE COMPANIES TO THE GROWTH OF SME’s

CHAPTER ONE

INTRODUCTION

1.0 Background

The substantial growth of small and medium enterprises (SMEs) activity clearly marks SME as one of the most remarkable economic phenomena. SME is a business that is privately owned and operated with a small number of employees and relatively moderate volume of sales. The definition of SMEs varies from country to country depending on the level of development and the strength of the economy. The lower limit for small scale enterprises is set at between five and ten workers and the upper limit is set at between fifty and one hundred workers. The upper limit for medium scale enterprises is set between one hundred and two hundred and fifty workers (Hallberg, 2000). In Uganda there are approximately 1,069,848 SMEs currently in operation and they comprise over 90% of the private sector. They contribute to employment, provision of basic goods and services, and generation of export and tax revenues for national socio-economic development. Their Gross Domestic Product (GDP) contribution to the economy is 75% and they employ about 2,500,000 nationals. The location of these SMEs is mostly in urban areas with 80% located therein. They operate business like restaurants, accountants, hairdressers, conveniences stores and guesthouses (Hatega, 2007). On the other hand insurance is a contract by which one party undertakes in consideration of a payment called premium to secure the other against pecuniary loss by payment of a sum of money in the event of destruction or damage to property, fire, accidents or death of a person. Economy, investment and finance reports (2010) defines insurance as a policy from a large financial institution that offers a person, company, or other entity reimbursement or financial protection against possible future losses or damages. An insurance contract is an agreement by which the insurer promises, from a premium or assessment, to make a payment to a policy holder or a third person if an event that is the object of a risk occurs. SMEs often face a variety of problems related to their size. Frequent causes are bankruptcy, theft, fire, death, automobile accidents and workers injuries.
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For example, National Insurance Corporation Limited (NIC) is an insurance company in Uganda. The company is a leading provider of insurance and risk management services with 19 branches spread throughout the country (Robinson, 2009). NIC was established by Act of Parliament in 1964. The basic function of NIC insurance is to provide security and protection against risks to business. NIC has also undertaken several projects aimed at empowering the development and growth of SMEs in Uganda. Amongst these projects include; organizing public workshops and seminars aimed at enhancing techniques of small scale traders, for example the 2001 conference on marketing insurance, Publishing literature on insurance services covering issues like the need for business to be insured, business growth and financial discipline in business which are of importance to SMEs businessmen and supporting of SMEs in development and training of young businessmen in how to survive competently in the market place. (Mutesasira, Osinde, and Mule 2001). However, besides NIC contributions to the growth of SMEs, it‟s unfortunate that most of the SMEs are badly run due to lack of knowledge and skills in insurance policies, (Ocici, 2007),lack of professional and networking, limited knowledge of business opportunities, poor compiled records and accounts and low level of technical and management skills (UNCTAD 2002). In addition, high premium cost is also a major effect on growth of SMEs. It is therefore against this background that the researcher deems it worthy to find out by analyzing the relationship between contributions of insurance companies to the growth of SMEs.
1.1 Statement of the problem
Despite the contribution of insurance corporations to the growth of SMEs in economic development, failure and slow growth still exists and the public doubts its management (Ocici, 2007). Research suggest that 80% of the businesses affected by major incident close down within 18 month, and 90% of those who lose data close down within 2 years. This is due to the failure of small businesses to have adequate insurance cover and proper business continuity plans (cover sure, 2007). However literature has shown that insurance companies are not willing to insure SMEs and it was the aim of this research to establish whether a relationship between these two variables exists.
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1.2 Objective of the study The main objective of the study was to investigate the contribution of insurance companies in the growth of SMEs in Uganda. The study also sought:
1. To examine major factors that affects the growth of SMEs.
2. To assess the contribution of insurance companies to the growth of SMEs.
3. To investigate the factors inhibiting the purchase of insurance cover by SME operators.
4. To determine the strength of the relationship between insurance companies and growth of SMEs.
1.3 Research question
1. What are the major factors affecting the growth of SMEs?
2. What contributions do insurance companies responsible for the growth of SMEs?
3. What factors inhibit SME operators from purchasing insurance cover?
4. How strong is the relationship between insurance companies and growth of SMEs?
1.4 Purpose of the study The study established the contribution of insurance companies and the performance of SMEs in Uganda. 1.5 Scope of the study Geographical scope The study focused on Insurance companies in Uganda- National Insurance Corporation Limited (NIC) which is an insurance company in Uganda. The company is a leading provider of insurance and risk management services with 19 branches spread throughout the country (Robinson, 2009). NIC was established by Act of Parliament in 1964.
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Content scope The study focused on the efforts that are made by National insurance company to raise the growth of SMEs. Contribution that insurance companies play in the growth and development of SMEs and the relationship between insurance companies and SMEs was also studied. The study targeted the employers and employees of NIC. 1.6 Significance of the study. This research will be undertaken as an academic requirement by Makerere University before the degree of Bachelor of Commerce can be awarded. The researcher places prestige in the successful completion of the study. It‟s only through research that ideas and approaches will be developed and tested. This research will generate information to be used as basis for further research in to the contribution of insurance in other business segments. The study will increase public awareness on the operations of National Insurance Corporation hence making it convenient for the public when dealing with the corporation. This research will provide data to policy makers that will assist towards formulating for appropriate policy for policy makers operation. This will permit specific plans and policies geared towards promoting.

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ANALYSIS OF THE CONTRIBUTION OF INSURANCE COMPANIES TO THE GROWTH OF SME’s

MONETARY INCENTIVES AND EMPLOYEE PERFORMANCE

MONETARY INCENTIVES AND EMPLOYEE PERFORMANCE

ABSTRACT

The purpose of the study was to establish the relationship between monetary incentives and employee performance in Barclays Bank. The research objectives were; to establish the level of employee performance, to establish the relationship between the monetary incentives and employee performance and to establish the monetary incentives used in Barclays Bank.

The above mentioned objectives were achieved using stratified sampling and simple random sampling to select respondents. A sample size of 75 respondents was taken basing on the proportion of 50% on each stratum depending on their respective samples. The appropriate design which was used to collect data was descriptive research design because it describes both qualitatively and quantitatively.

From the study it was found that the Bank offers a number of incentives such as salaries, allowances, bonuses, air time and lunch allowances.Employee performance findings  indicated that they had improved as evidenced by reports of achieved targets of 2008-2010. The relationship between monetary incentives and employee performance was strong-positively relationship of 0.99.

The researcher made a number of recommendations that; pay should be increased to enable the workers meet their economic obligations and making employees being more committed to the Bank, employee development programs like training and promotions should be adequately implemented, working conditions should be improved upon for example the supervisors should be loosen of the harsh attitudes towards lower level workers and punishment should be proportional to errors committed, employees should be allowed to participate in decision making especially decisions that affect them and a two way communication should be encouraged in the organization. Complaints received from employees should be responded to.

CHAPTER ONE

1.1 BACK GROUND TO THE STUDY

Monetary incentives refer to the exchange prices for labour.(Markowitz 1980). They are the base payments which employers use to compensate time and effort spent by employees towards attaining organizational goals (Flippo 1984). Monetary incentives can be understood as payment packages that individual workers earn by virtue of their employment by the organization. Generally monetary incentives are economic benefits given to employees for the services they render to the organization. Performance is defined as the ability to meet the set targets in the organization. (Kayemba 1995)

Employee performance findings take forms of salaries, wages, allowances, bonuses. Salaries are a monthly pay to employees of the bank and they are fixed according to the employees experience, educational levels and position. Wages on other hand are calculated according to task given to a particular employee and sometimes the number of days that one works and this is usually payment made to casual labourers. Allowances in Barclays Bank include airtime, medical allowances, and even transport allowances. Bonuses are extra pays to the employees who have achieved the set targets in time and this is usually in addition to the salary of the employee.(Company magazine 2008). However, the monetary incentive system in Barclays is characterized by delays in paying employees their salaries, bonuses and allowances to the extent of paying them three months (Banks quarterly report 2007).

This has demotivated hard working employees as there is lack of extra pay for the more performing employees. This has also affected the performance as employees are no longer working according to expectations of the bank because employees report late for work, rampant absenteeism and labour turnovers. (Bank’s quarterly report 2007).

1.2 STATEMENT OF THE PROBLEM.

Barclays bank has tried to create a motivating environment for its workers through putting up monetary incentives such as allowances, bonuses, payments of salaries and wages in order to motivate them work towards the set targets but the poor incentive system of the Bank like delays in payments has led to demotivated work force leading to the poor performance levels of employees hence the Bank not achieving most of its targets in time.

1.3 PURPOSE OF THE STUDY.

The purpose of the study was to establish a relationship between the monetary incentives and employee performance.

1.4 OBJECTIVES OF THE STUDY

1) To establish the monetary incentives used by Barclays Bank.

2) To establish level of employee performance in Barclays Bank.

3) To establish the relationship between the monetary incentives and employee performance.

1.5 RESEARCH QUESTIONS

1) What are the monetary incentives used in Barclays Bank?

2) What is the level of employee performance in Barclays Bank?

3) What is the relationship between monetary incentives and the employee performance?

1.6       SCOPE OF THE STUDY

1.6.1 Geographical scope

The study was carried out at Barclays Bank head offices along Jinja road because it had the necessary data for the study.

1.6.2 Content scope

The study focused on monetary incentives as an independent variable and employee performance as the dependent variable.

1.6.3 Time Scope

The researcher considered records relating to the monetary incentives and the employee performance levels in Barclays Bank from the periods of 2008-2011.

1.7 SIGNIFICANCE OF THE STUDY

The study was of importance to the organizations in understanding the relationship between the monetary incentives and employee performance.

The research was of useful to the future researchers on monetary incentives as a form of motivating factor to employee performance.

The study was to provide the researcher with more research knowledge and skills in monetary incentives and employee performance in the Banks and how to conduct research.

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MONETARY INCENTIVES AND EMPLOYEE PERFORMANCE

IMPACT OF FOREIGN DIRECT INVESTMENT ON TE ECONOMIC GROWTH OF NIGERIA (1986-2010)

IMPACT OF FOREIGN DIRECT INVESTMENT ON TE ECONOMIC GROWTH OF NIGERIA (1986-2010)

Concept of Foreign Direct Investment in Nigeria
An agreed framework definition of foreign direct investment (FDI) exists in theliterature. That is, FDI is an investment made to acquire a lasting managementinterest (normally 10% of voting stock) in a business enterprise operating in acountry other than that of the investor defined according to residency (World Bank, 1996). Such investments may take the form of either “greenfield†investment (also called “mortar and brick†investment) or merger and acquisition (M&A), which entails the acquisition of existing interest rather than new investment.
In corporate governance, ownership of at least 10% of the ordinary shares or voting stock is the criterion for the existence of a direct investment relationship. Ownership of
less than 10% is recorded as portfolio investment. FDI comprises not only merger and
acquisition and new investment, but also reinvested earnings and loans and similar capital transfer between parent companies and their affiliates. Countries could be both host to FDI projects in their own country and a participant in investment projects in other counties. A country’s inward FDI position is made up of the hosted FDI projects, while outward FDI comprises those investment projects owned abroad.
One of the most salient features of today’s globalization drive is conscious  encouragement of cross-border investments, especially by transnational corporations and firms (TNCs). Many countries and continents (especially developing) now see attracting FDI as an important element in their strategy for economic development. This is most probably because FDI is seen as an amalgamation of capital, technology, marketing and management.
Sub-Saharan Africa as a region now has to depend very much on FDI for so many reasons, some of which are amplified by Asiedu (2001). The preference for FDI stems from its acknowledged advantages (Sjoholm, 1999; Obwona, 2001, 2004). The effort by several African countries to improve their business climate stems from the desire to attract FDI. In fact, one of the pillars on which the New Partnership for Africa’s Development (NEPAD) was launched was to increase available capital to US$64 billion through a combination of reforms, resource mobilization and a conducive environment for FDI (Funke and Nsouli, 2003).
Unfortunately, the efforts of most countries in Africa to attract FDI have been futile. This is in spite of the perceived and obvious need for FDI in the continent. The  development is disturbing, sending very little hope of economic development and  growth for these countries. Further, the pattern of the FDI that does exist is often skewed towards extractive industries, meaning that the differential rate of FDI inflow into sub-Saharan African countries has been adduced to be due to natural resources, although the size of the local market may also be a consideration (Morriset 2000; Asiedu, 2001).
Nigeria as a country, given her natural resource base and large market size, qualifies to be a major recipient of FDI in Africa and indeed is one of the top three leading African countries that consistently received FDI in the past decade. However, the level of FDI attracted by Nigeria is mediocre (Asiedu, 2003) compared with the resource base and potential need. Further, the empirical linkage between FDI and economic growth  in Nigeria is yet unclear, despite numerous studies that have examined the influence of  FDI on Nigeria’s economic growth with varying outcomes (Oseghale and Amonkhienan, 1987; Odozi, 1995; Oyinlola, 1995; Adelegan, 2000; Akinlo, 2004).
Most of the previous influential studies on FDI and growth in sub-Saharan Africa are multi country studies. However, recent evidence affirms that the relationship between FDI and growth may be country and period specific. Asiedu (2001) submits that the determinants of FDI in one region may not be the same for other regions. In the same vein, the determinants of FDI in countries within a region may be different from one another, and from one period to another.
Foreign direct investment (FDI) is an investment made to acquire a lasting management interest (normally 10% of voting stock) in a business enterprise operating in a country other than that of the investor defined according to residency (World Bank, 1996). Such investments may take the form of either “greenfield†investment (also called “mortar and brick†investment) or merger and acquisition (M&A), which entails the acquisition of existing interest rather than new investment.
One of the most noticeable features of today’s globalization drive is conscious encouragement of cross-border investments, especially by transnational corporations and firms (TNCs). Many countries (especially developing) now see attracting FDI as an important element in their strategy for economic development. This is most probably because FDI is seen as an amalgamation of capital, technology, marketing and management. Africa as a region now has to depend very much on FDI for so many reasons, some of which are amplified by Asiedu (2001). The preference for FDI stems from its acknowledged advantages (Sjoholm, 1999; Obwona, 2001, 2004). The effort by several African countries to improve their business climate stems from the desire to attract FDI. In fact, one of the pillars on numerous studies that have examined the influence of  FDI on Nigeria’s economic growth with varying outcomes (Oseghale and Amonkhienan, 1987; Odozi, 1995; Oyinlola, 1995; Adelegan, 2000; Akinlo, 2004). Most of the previous influential studies on FDI and growth in sub-Saharan Africa are multi country studies. However, recent evidence affirms that the relationship between FDI and growth may be country and period specific. Asiedu (2001) submits that the determinants of FDI in one region may not be the same for other regions. In the same vein, the determinants of FDI in countries within a region may be different from one another and from one period to another (Kolawole and Henry, 2009).
Studies on FDI and economic growth in Nigeria are not complete in agreement in their submissions. A closer examination of these previous studies reveals that conscious effort was not made to take care of the fact that more than 60% of the FDI inflows into Nigeria is made into the extractive (oil) industry.
Nigeria is a country endowed with arable land and abundant natural resources. Government policies have been directed towards ensuring that what nature has provided is harnessed and utilized to the fullest for the benefit of the citizenry. Thus, Government policies and strategies towards foreign investments in Nigeria are usually shaped by two principal objectives: the desire for economic independence and the demand for economic development (Garba, 1998).
Todaro (1994) notes that the primary factors which stimulate economic growth are investments that improve the quality of existing physical and human resources, that increase the quantity of these same productive resources and that raise the productivity of all or specific resources through invention, innovation and technological progress. FDI contributes to GDP growth rates and is seen as a vital tool for economic progress.
Osaghale and Amenkhieman (1987) conducted an investigation to determine whether foreign capital inflows, oil revenues and foreign borrowing had any positive impact on the economic growth of Nigeria. They found that Nigeria’s revenue from oil export increased between 1970 and 1982 and that there was a substantial growth in her total foreign debts and FDI. The study also showed that there was a positive relationship between FDI and Gross Domestic Product (GDP). The study concluded that the economy would perform better with greater inflow of FDI; and recommended that less developed countries (LDCs) should create more conducive environments for FDI.
Edozien (1968) stresses the linkages generated by foreign investment and its impact on the economic growth of Nigeria. He contends that FDI induces the inflow of capital, technical know-how and managerial capacity which accelerate the pace of economic growth. He also observed the pains and uncertainties that come with FDI. Specifically, he noted that foreign investment could be counter
productive if the linkages it spurs are neither needed nor affordable by the host country; and concluded that a good test of the impact of FDI on Nigeria’s economic growth is how rapidly and effectively it fosters, innovates or modernizes local enterprises.
Aremu (2003) observes that foreign firms can raise the level of capital formation, promote exports and generate foreign exchange. Indeed, the role of FDI in capital formation in Nigeria has been increasing over the years. FDI/GCF (Gross Capital Formation) rose from 7.3% in 1974 to about 17% in 1985, although it was generally low in the late 1970s and early 1980s. For example, FDI only contributed 1.5% to GDP growth in 1976 and 0.5% in 1982. The relatively low level of FDI in total capital formation in these periods was similar to that of Korea and Taiwan, which had emphasized minimal levels of reliance on foreign investment. In contrast to this, were some South East Asian countries which had the policy of attracting FDI, for example, Indonesia. Nigeria retarded the contribution of FDI to gross capital formation during this period using infant industry protection, local content rules, FDI restrictions and other restrictive policies. The relative rise in the share of FDI in capital formation since 1993 has been due to rapid loosening of controls and regulations on the activities of multinational corporations in Nigeria. As a result, FDI/GCF ratio rose from 6.4% in 1986 to 32% in 1993 and 49% in 1998 (Fabayo, 2003).
The linkage between investment and growth does not mean that capital accumulation is the sole determination of economic growth in Nigeria. FDI may also influence investment by domestic firms and by other foreign affiliates. An IMF study based on 69 countries over the period 1970–1989 found that FDI from developed countries stimulated domestic investment (Borensztein et al, 1998).
Thus, Odozi (1995) posits that FDI appears to be the most crucial component of capital inflow Nigeria should seek to attract in the light of her current economic circumstances. Many studies, however, indicate that the impact of FDI is limited or even negative sometimes.
In a study of Nigeria, Onimode et al (1983) found that where FDI was directed at import substituting firms, the value of imports was observed to be greater than the value added produced. This type of FDI would give rise to outflows of investment income and high cost of imported inputs which adversely affect growth. Ohiorheman (1993) asserts that with the research and development (R&D) concentrated in the head offices of multinational corporations (MNCs), technology transfer was limited. He added that even though the MNCs provided local training programs, Nigerians were intricacies of machinery construction or installation. Consequently, their innovative ability was not enhanced. He concluded that, to the extent the MNCs dominated the manufacturing sector, their activities generated little multiplier effects and the linkage effects were generally low in the (manufacturing) sector.
Using indices of dependence and development as a mirror of Nigeria’s economic performance, Oyaide (1977) concluded that FDI engineer both economic dependence and growth. In his opinion, FDI causes and catalyzes a level of growth that would have been impossible without such investment. This is, however, at the cost of economic dependence.
Although a lot of studies indicate that there exists a positive relationship between FDI and economic growth in Nigeria, there is a consensus among economists that the country’s growth rate would have a positive impact on FDI. The prospect that FDI will be profitable is brighter if the

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IMPACT OF FOREIGN DIRECT INVESTMENT ON TE ECONOMIC GROWTH OF NIGERIA (1986-2010)

HUMAN RESOURCE OUTSOURCING AND PERFORMANCE OF SELECTED FOOD AND BEVERAGE FIRM

HUMAN RESOURCE OUTSOURCING AND PERFORMANCE OF SELECTED FOOD AND BEVERAGE FIRM

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF STUDY

The activities of most food and beverage firms in human resource outsourcing have increased overtime in Nigeria. The Fast Food industry in Nigeria today is a beehive of activities and is gaining a lot of attention both within and outside the country. Industry trends such as rapid outlet expansion, strategic alliances (especially with companies in downstream sector of the oil and gas industry), and entrant of foreign players amongst others lends credence to these assertions. There exist in every economy, (whether developed, developing or less), various type of industries; manufacturing, service, food and beverage, textile and chemical. These industries compete among themselves for resources, infrastructure, market share and relevance, for successful competition, companies use creative and innovative weapons to compete favorably for profit maximization. However the concept of outsourcing has not received a lot of attention as considered being important elements that account for the growth and remarkable performance of the fast foods industry in Nigeria. Also the effects of outsourcing on firms’ performance are not completely clear. Previous outsourcing studies show contradictory results; while some claim a positive relationship between outsourcing and performance outcomes, others report no significant or even negative effects (Rothaermel and Deeds, 2001). Outsourcing without proper management control could sometimes result in job losses, According to Ghodeswar and Vaidyanathan (2008), a large number of employees whose organizations outsource their business activities may have similar problems to those employees that have undergone downsizing, while organizations claim that the basis for outsourcing is to increase business efficiency. however employees who are lucky to remain in the company after outsourcing effects believe that the possibilities of them staying in the company is low, because they could be the next in line to lose their jobs. Hammer (2001) posits that in situations where the outsourcer is not satisfied with the service, it could be difficult to break the contract because outsourcing contracts usually require a stipulated period. It will be costly to reverse the situation and return the services in house. Nevertheless, extant literatures and observed online interviews of business executives have shown that the positive outcome of outsourcing as a platform for reducing cost of production and for increasing the profit of firms. However, limited study have been able to link it with returns on marketing investment. Return on marketing investment (ROMI) is the contribution attributable to marketing (net of marketing spending), divided by the marketing ‘invested’ or risked. ROMI is a relatively new metric. It is not like the other ‘return-oninvestment’ metrics because marketing is not the same kind of investment. Instead of fund being ‘tied’ up in plants and inventories, marketing funds are typically ‘risked.

1.2 STATEMENT OF PROBLEM

In recent years, organizations have outsourced an expanding variety of activities including human resource functions in an attempt to improve service and product quality, reduce production cycle times, lower costs, increase their focus on core competencies, and, in general, enhance organizational performance. Organizations appear to be focusing on a relatively narrow set of functions and are contracting with outside suppliers to perform the others.

Despite the trend toward Human resource outsourcing, evidence of its performance effects is scarce. Appealing arguments have made the case both for and against outsourcing as a means of achieving long-run competitive advantage. On the one hand, by outsourcing human resource management tasks to specialist organizations, organizations may better focus on their most value-creating activities, thereby maximizing the potential effectiveness of those activities. In addition, as outsourcing increases, costs may decline, and investment in facilities, equipment, and manpower can be reduced). On the other hand, anecdotal evidence suggests that increased reliance on outsourcing may lead to reduced innovation (Kotabe, 1992), eventual competition from outsourcing partners (Bettis et al., 1992), and reductions in control of the task in question. Thus, the performance effects of outsourcing are uncertain.

1.3 AIMS AND OBJECTIVES OF STUDY

The main aims of the study are to examine the human resource outsourcing and performance of selected food and beverage firm in Ogun state. Other specific objectives of the study include:

  1. To examine the effecting of human resource outsourcing on organization performance
  2. To determine the relationship between  human resource and the profitability of an orgnaisation
  3. To identify the benefits derived in outsourcing human resource functions in most of the food and beverages firms in Ogun state.
  4. To proffer solution to the above stated problems

1.4 RESEARCH QUESTIONS

The study came up with research questions so as to ascertain the above stated objectives of study. The research questions are stated as follows:

  1. What is the effecting of human resource outsourcing on organization performance?
  2. What is the relationship between human resource and the profitability of an orgnaisation?
  3. What are the benefits derived in outsourcing human resource functions in most of the food and beverages firms in Ogun state?

1.5 STATEMENT OF RESEARCH HYPOTHESIS

H0: human resource outsourcing has no impact on performance of the food and beverage firms in ogun state

H1: human resource outsourcing has significant impact on performance of the food and beverage firms in ogun state

1.6   SIGNIFICANCE OF THE STUDY

The following are the significance of this study:

  1. The findings from this study will be useful to the management of most food and beverage firms and all other corporate organizations in Nigeria on how they can use Human resource outsourcing as a tool for organizational performance and effectiveness.
  2. This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently, if applied will go to an extent to provide new explanation to the topic.

1.7   SCOPE/LIMITATIONS OF THE STUDY

This study on the impact of outsourcing human resource functions on organizational performance in most food and beverage firm will cover Human resource outsourcing approaches in the food and beverage firm with a view of identifying its effect on organizational performance and effectiveness.

LIMITATION OF STUDY

  1. Financial constraint– Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
  2. Time constraint– The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

1.8 DEFINITION OF TERMS

HUMAN RESOURCE: are the people who make up the workforce of an organization, business sector, or economy. “Human capital” is sometimes used synonymously with “human resources”, although human capital typically refers to a more narrow view (i.e., the knowledge the individuals embody and economic growth).

OUTSOURCING: obtain (goods or a service) by contract from an outside supplier.

PERFORMANCE: an act of presenting a particular activity, this activity might be profitability competence or customers’ satisfaction ability.

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HUMAN RESOURCE OUTSOURCING AND PERFORMANCE OF SELECTED FOOD AND BEVERAGE FIRM

CO-OPERATIVE THRIFT AND CREDIT SOCIETY

CO-OPERATIVE THRIFT AND CREDIT SOCIETY

ABSTRACT

This research project titled co-operative thrift and loan society (A case study of African thinkers and credit societies). This study consist of five chapters and the study aimed at  identifying the causes of establishing co-operate we thrift and loan societies in African thinkers C of Bod Enugu state. To solve the research problems, both primary and secondary data were collected, the research instruments used in collecting the data were questionnaire and oral interview, the respondent comprised of members of co-operative society especially in African thinkers in Enugu, Enugu State. In organizing and presenting data collected, frequency, distribution tables, charts percentages and degrees were used, data analysis and interpretation of data assisted to taking decisions on the findings/recommendation.

CHAPTER ONE

1.0    INTRODUCTION 
This chapter deals with the background of the study, Statement of the problems, purpose of the study, Significance of the study, research questions, scope and definition of the study.

1.1    BACKGROUND OF THE STUDY 
The essence of a credit society is to create a pull of fund. It has from it’s beginning, been charge with designing and building members owned and controlled cooperative finance system the greatest gandicap to goal attainment is fund. This society encourages the extension of micro and other credit facilities to rural and urban to galvanize their economic activities, which will create employment and raise the statement of human existence.
Consequently, co-operators have given much thought and effort to set up their own financial institutions so as to marshal the financial resources necessary to provide many services that credit problems of farmers cooperative that arose major public concern and caused the first bides pread cooperative finance association to be formed in the farming sector, although consumers co-operative has also encountered the need for more credits.
Those days, the citizens helped themselves by communal efforts as well as embarking on personal or collective savings, for example in Igbo Land for instance “Isusu” clubs provided a forum for collection of saving from their members, the members agreed on how the money will be given out as loans to their members, though the weakness of “Isusu” was that members would always get the money as at when needed therefore as a result of the problems of lack of credit they arose the need for cooperative thrift and loan society to reduce the problems and short comings of the “Isusu” clubs.
Co-operative thrift and loan society is a cooperative society that provides it’s members with convenient and secured means of interest. This is most suitable for workers in one organization. These workers pay for their savings and loans from the source of their income. They do not as a rule, have a regular weekly or daily income, but receive a comparatively large sum of money at  the end of the month which enable the deduction of their payment from the extravagant  spending which so often occurs when there is money in the packet.

1.2    STATEMENT OF THE PROBLEM 
Workers are always I need of money to meet up with emergency investment or provision for their retirement, what they need is loan that will be granted to them for production or emergency purpose. But in spite of all the effort of credit co-operative, the is still experiencing low or decreasing productivity as it relates to the satisfaction of the members need especially in the rural and sub-urban areas these are relatively low level of productivity as some of the members are no more interested I their society. What are the causes of this low productivity in their services is it as a result of poor co-operation among the co-operative?

1.3    PURPOSE OF THE STUDY
The general objective of the study is to determine the problem of the co-operative thrift and loan society in African tinkers, Enugu State and always to access the operation of cooperative thrift and loan society and in relation to the members, to determine the sources of capital and how members obtain loan and their pay-back system.
To access how often the director of co-operative inspects co-operative societies in African thinkers. Enugu state and its impact on the effective management of the co-operative thrift and loan societies.

1.4    SIGNIFICANCE OF THE STUDY 
If the purpose of this study are achieved, it is point to be of a great importance to the management of the co-operative societies, the economy of our society to the institution of the researcher in the following ways.
To the management of the co-operative thrift and loan society. It is necessary to investigate their budget planning and execution and evaluate their effectiveness especially today that camping is going on for everybody to become a member of co-operative society. This study will determine why co-operative thrift and loan societies do not thrive as other co-operative societies.
Moreover, the committee members will know that co-operative thrift and loan society must achieve their objective in order to justify the existence.
To the members of co-operative thrift and loan society through this study they will know that they have an important role to play in order to insure the viability of the co-operative thrift and loan society. According to self-help value of co-operative there must be co-operation between them and the management.
Therefore, everybody should put in his or her best to achieve the goal of the society more so every member has the right to vote and be voted for.
The solution to the problem of co-operative thrift and loan their issues. Also, they can loan a lesion from the efficient management of their co-operative thrift and loan society if enhanced.
The society as a whole will benift a lot from the viability of a co-operative  thrift and loan societies as the will go a long way in reducing unemployment problems in the country.
Moreover, the production of co-operative thrift and loan society if enhanced, will increase the national income of our economy.
To the researcher, this has exposed her to various publications in her field of study as well as knowing in details in practice of cooperative.

1.5    SCOPE OF THE STUDY 
The researcher of this study intended to study  the problems of co-operative thrift and loan societies in African thinker Enugu but will  limit the study to co-operative thrift and loan society of the African thinkers thrift and credit Association Enugu State.

1.6    RESEARCHER QUESTIONS
1.    Does co-operative thrift and loan society satisfy its members need?
2.    Is there poor inspection in co-operative?
3.    Does co-operation exist within co-operative thrift and loan societies?
4.    Does the management committee of co-operatives thrift and loan societies apply the principles and law of co-operative in their management?
5.    Is constant withdrawal of members a problem to co-operative thrift and loan societies?
6.    Do debtor-members of co-operative thrift  and loan society pay their debts as at when due?

1.7    Definition of terms 
A co-operative society is an association of person who voluntarily joried  to achieve a common goal through the formation of a democratically controlled organization making equitable contribution of the capital required and accepting a fair share of the risk and benefit of the undertaking in which the members actively participate.
While co-operative thrift and loan society is an organization that is established in a workplace for the employees with the main aim of enabling the employees to save percentage of their salaries.

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CO-OPERATIVE THRIFT AND CREDIT SOCIETY

REDUCING UNEMPLOYMENT THROUGH CO-OPERATIVE MOVEMENT

 REDUCING UNEMPLOYMENT THROUGH CO-OPERATIVE MOVEMENT

ABSTRACT

This study was conducted to examine how unemployment has been reduced through cooperative movement in Enugu North Local Government Area. This study covers year 2012 to 2015. In the course of this study, research objective and hypothesis were formulated, for which primary and secondary data were collected, and data were men presented in a tabular form.
Based on the above, the findings on the topic are as follows:
–    Staff employees of the sample cooperative are averagely qualified for their various jobs and they are given opportunities for further training by the cooperative societies.
–    Employees of the sample cooperatives are averagely paid with some necessary allowances.
–    Cooperative societies help about 35% of school leavers to be self employed.
–    There is a continuous education both to the members and the whole public.
The researchers recommendations includes the followings:
–    Government should make it compulsory for every establishment to have its own cooperative.
–    Government should set-up more cooperative banks to give loans to individuals and groups that are prospecting to establish cooperative
–    In conclusion the research deemed it necessary that every hand must be on desk to encourage the establishment of cooperative enterprises, since its now obvious that the only option left for us it to adopt to social economic model of mutual self-help.

TABLE OF CONTENTS

Title page
Approval page
Dedications
Acknowledgement
Abstract
Table of contents
CHAPTER ONE
1.0    Introduction
1.1    Background of the study
1.2    Statement of the problem
1.3    Objective of the study
1.4    Significance of the study
1.5    Research questions
1.6    Scope and limitations of the study
1.7    Limitations of the study
CHAPTER TWO
2.0    Literature review 
2.1    Definition of unemployment
2.2    Types of unemployment
2.3    Causes of unemployment
2.4    Projects co-operative can involve in
2.5    Role of cooperative societies in reducing unemployment
2.6    Benefits of co-operative society
CHAPTER THREE
3.0    Research design and methodology 
3.1    Sources of data
3.2    Primary sources
3.3    Secondary sources
3.4    Population of study
3.5    Determination of sample size
3.6    Method of data analysis
CHAPTER FOUR 
4.0    Presentation and analysis of data
CHAPTER FIVE
5.0    Summary of Findings, Recommendations and Conclusion 
5.1    Summary of findings
5.2    Recommendation
5.3    Conclusion
Bibliography
Appendix 

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SEARCH RESULTS FOR: REDUCING UNEMPLOYMENT THROUGH CO-OPERATIVE MOVEMENT

 

 

THE IMPACT OF EXCHANGE RATE VARIATIONS ON AGGREGATE DEMAN IN NIGERIA

THE IMPACT OF EXCHANGE RATE VARIATIONS ON AGGREGATE DEMAND IN NIGERIA

LITERATURE REVIEW
2.1 REVIEW OF THEORETICAL LITERATURE
The importance of exchange rate policies in economic adjustments cannot be overemphasized as it has become the subject of considerable debate in many economies in the word today.
Several economists in the world today have discovered that in the bid to achieve certain objectives, that are economy wide in nature, the issue of exchange rate cannot be handled lightly. They try to see if exchange rate instabilities affect other macroeconomic aggregates positively or negatively over time.
Efforts have also been made to see if the economic problems of the Less Developed Countries (LDCs) could be tackled employing exchanging ate policy as a vital instrument. To this end, several exchange rate models were propounded by different economies in the world to suggest how exchange rate could, in the first place, be determined.

2.2 EXCHANGE RATE DETERMINATION MODELS
exchange rate determination has been a crucial issue in economic research. As a result, several schools of though propounded different ways by which exchange ate could be determined. Before the 1970’s the Keynesian model, which was developed by James Meode (1951), dominated the scene. In 1962 and 1963, it was amended by Marcus Fleming and Robert Murdell respectively to be known as the Mudell-Fleming model. However during the 1970s, other exchange rate models, which were based on considerations of stock equilibrium in the financial market internationally, were developed.

 

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THE IMPACT OF EXCHANGE RATE VARIATIONS ON AGGREGATE DEMAND IN NIGERIA

THE IMPACT OF MONETARY POLICY ON BALANCE OF PAYMENT IN NIGERIA

THE IMPACT OF MONETARY POLICY ON BALANCE OF PAYMENT IN NIGERIA

ABSTRACT
This research work is centered on the impact of Monetary Policy on Balance of Payment in Nigeria with the scope being from 1970 to 2006.
The Central Bank of Nigeria (CBN) monetary policy instruments were discussed and the IS-LM framework of an open economy was also discussed including the CBN monetary policy guideline from 1970 to date which is the major channel through which the Central Bank’s activities are based on.  The ordinary least square estimator (OLS) was the analysis adopted and from analysis and result obtained it indicates a negative impact of monetary policy on balance of payment.  However, recommendations were made with respect to the CBN’s to adopt the Charles Soludo new exchange rate proposal 2007 and to shift emphasis to non-oil sectors of the economy in order to have a viable balance of payment.

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THE IMPACT OF MONETARY POLICY ON BALANCE OF PAYMENT IN NIGERIA

IMPACT OF TRADE LIBRALIZATION ON EMPLOYMENT GROWTH IN NIGERIA (1981-2013)

IMPACT OF TRADE LIBERALIZATION ON EMPLOYMENT GROWTH IN NIGERIA (1981-2013)

1.1   BACKGROUND TO THE STUDY 
The issue of employment is very germane to any economy; this is why one of the main macroeconomic objectives of any country is to attain full employment. The issue of employment is paramount to Africa and Nigeria in particular, where high-level poverty is obvious with rising unemployment rates. However, in order to combat the problem of poverty, Oni (2006) argued that reducing the level of unemployment will increase the income level in the economy and thereby reduce the level of poverty. To increase the level of employment, some scholars have argued that the flow of goods and services (trade flows) could propel employment generation,especially in developing countries.
According to Pieper(2006), growth in employment has a feedback on economic growth, such that an increase in labour incomes would expand domestic demand, which in turn would lead to sustainable GDP growth and reducing risks of excessive reliance on uncertain foreign markets. Given this fact, trade can absorb Nigeria’s surplus labour and this can go long way in alleviating poverty for the majority of the poor Nigerians.

Economists have long been interested in factors which cause different countries to grow at different rates and achieve different levels of wealth. One of such factors is foreign trade. Nigeria is basically an open economy with international transactions constituting a significant proportion of her aggregate output. To a large extent, Nigeria’s economic development depends on the prospects of her import and export trade with other nations. Foreign trade provides both foreign exchange earnings and market stimulus for accelerated economic growth (Obadan, 2004). Nigeria’s relatively large domestic market can support growth but alone cannot deliver sustained growth at the rates needed to make a visible impact on unemployment and poverty reduction. Hence Nigeria has continued to rely on foreign market as well (World Bank, 2002).
Many economists generally agree that openness to international trade accelerate development. The more rapid growth may be a transition effect rather than a shift to a different steady states growth rates, clearly, the tradition takes a couple of decades or more so, that is, it is reasonable to speak of foreign trade openness accelerating growth rather than merely leading to a sudden onetime adjustment in net income (Dollar and Kraay, 2001).
Nigeria is characterized with a ‘dualistic’ labour market in which the minority of workershave regular formal sector jobs, while majority works in the informal sector, with a large pool ofsurplus labour. This is seen from its rapidly increasing labour force.The impact of trade liberalisation on employment growth in Nigerian economy; considering the vision of the country, the welfare of its people and its economic position in the world today, tend to be a special area of interest for the academic world and for policy makers.

1.2   STATEMENT OF THE RESEARCH PROBLEM
In spite of the country’s large pool of surplus labour, rapidly growing labourforce and increasing employment, the share of employed workers in total labour force has beendeclining since 1980, coupled with this, in the last two decade, the trend has been below 70%,which is an indication of high unemployment as more than 30% of its active population areunemployed.
This trend is not surprising as Nigeria ishighly dependent on imports for most of its raw materials inputs (CBN, 2007) and theemployment effect of these imports might be positive if a significant portion of imports serves asinputs for labour intensive industries. However, this trend has given rise to debates in developingcountries where concerns have been expressed over the loss of jobs due to import competition(Ghose 2003) and deindustrialisation as result of increased imports

However, government has tried to reverse this trend through the implementation ofpolicies to diversify the country’s export base away from oil so as to promote a stronger exportperformance. Such export policy includes export promotion strategies in which incentives weregiven for the promotion of non-oil exports particularly agriculture and labour intensivemanufactures. As noted by Carneiro and Arbache (2003) and Rama (2003), export promotionimproves employment level in countries embracing the strategies. Therefore, there had been anongoing argument between government and public, while the former opined that her exportpromotion policies have increased the level of employment, majority of the people believe thatunemployment is on the rise; it is against this backdrop that we consider it interesting todetermine whether the flow of imports and exports have brought any significant effects on employment growth inNigeria.

1.3   OBJECTIVES OF THE STUDY
The main objective of this research is to empirically examine the impact of trade liberalisation on employment growth in Nigeria between the year 1981 to 2013.
Specifically, the study also seeks:

  1. To examine the trend in trade liberalisation vis a vis employment growth in Nigeria.
  2. To examine the extent at which trade liberalisation can generate employment.
  3. Proffering appropriate framework based on the policy recommendations made.

1.4   RESEARCH QUESTION
This study aims at answering the following research questions:
i       Does a long or short run relationship or both exist between trade flows andemployment?
ii. To what extent is Nigeria’s total employment growth rate attributed to domesticfactors and external factors?
iii. What are the factors that hinder trade liberalisation?

1.5   RESEARCH HYPOTHESIS
The following hypothesis will be tested in the course of this study:
H0:   Trade liberalisation has no significant impact on employment growth in Nigeria.
H1    Trade liberalisation has significant impact on employment growth in Nigeria.

1.6   SIGNIFICANCE OF THE STUDY
The findings of this study will provide an insight as to whether trade liberalisation has any significant impact on Nigeria’s employment growth. Hence, policy makers will be able to formulate an articulate and comprehensive policy with respect to trade liberalisation management in Nigeria.  This research will also provide an objective view to the relevance of trade liberalisation on employment growth in Nigeria. The findings of this research will also serve as a useful reference material for further research on the impact of trade liberalisation on employment growth in Nigerian economy.

1.7   RESEARCH METHODOLOGY
The analysis that will be made in this study shall be based on macroeconomic data in Nigeria economy. Due to the linearity nature of the model formulation, Ordinary Least Square (OLS) estimation method would be employed in obtaining the numerical estimates of the coefficients in the model using Eviews.
Two multiple regression models shall be used in the estimation. The model shall seek to investigate the effect of trade liberalisation on employment growth in Nigeria. This is a follow up on the objectives of study stated earlier.

1.8   SCOPE OF THE STUDY

The economy is a large component with lot of diverse and sometimes complex parts; this research work will only look at a particular part of the economy (Trade). This work cannot cover all the facets that make up the Trade sector, but will look at trade liberalisation has been used by the government for the stabilization, and attaining economic development.
The empirical analysis and estimation covers the period between 1981 and 2013. This restriction is unavoidable because of the non-availability of some data.
The data for this study would be obtained mainly from secondary sources; particularly from Central Bank of Nigeria (CBN) publications such as the CBN Statistical Bulletin, CBN Annual Reports and Statements of Accounts, and National Bureau of Statistics publications.

1.9   LIMITATIONS OF THE STUDY 
Finance is one of the elements that assist a good research. Financial constraint created difficulties in the process of this research work; however, it did not hinder the research.
The main limitation of this study is time constraint. The time allotted for the completion of this research is not adequate based on recent and contemporary happening with respect to the impact of trade liberalisation on employment growth inNigerian economy.

    1. ORGANISATION OF THE STUDY

This study shall be divided into five chapters. The first chapter provides the background of the subject matter justifying the need for the study. Chapter two presents related literature concerning trade liberalisation on employment growth in Nigeria. The research methodology, which includes the theoretical framework, sources of data, model formulation, estimation techniques etc, are stated in chapter three while data presentation, analysis and interpretation  of regression result were made in chapter four. Concluding comments in chapter five reflects on the summary, conclusion, recommendations and suggestion for further studies based on the findings of the study.

1.11 DEFINITION OF TERMS
The following words are operationally defined as they would be used in this research study.
Trade liberalisation: The removal or reduction of restrictions or barriers on the free exchange of goods between nations. This includes the removal or reduction of both tariff (duties and surcharges) and non-tariff obstacles (like licensing rules, quotas and other requirements).
Foreign Trade: This is a trade between two or more countries. It is also referred to as international trade or external trade. It is a trade outside the national boundaries of countries. Foreign trade could be bilateral trade, which is trade between two countries or multilateral trade, which is trade between more than two countries.
Employment: This is astate of having a legitimate paid work. This is the opposite of unemployment.
Economic Growth: This refers to the increased over time of an economy’s capacity to produce those goods and services needed to improve the well-being of the citizens in increasing number and diversity. It is the study of the process by which productive capacity of the economy is increased over time to bring about rising level in national income.
Economic Development: This is a multi-dimensional process involving the provision of basic needs, acceleration of economic growth, reduction of inequality and unemployment, eradication of poverty as well as changes in attitude, constitution and structure in the economy.

REFERENCES
Carneiro, F.G. and Arbache, J.S. (2003) ‘The Impacts of Trade on
the Brazilian Labour Market: A CGEModel Approach’, World Development 31(9): 1581-95.
Central Bank of Nigeria (2007); Annual Report and Statement of
Accounts, December, Abuja.
Dollar D. and A. Kraay (2001), Growth is Good for the poor, Washington D.C. World Bank policy research working papers No. 2587.
John Black (2002). Oxford Dictionary of Economics. Oxford University Press Inc. New York.
Obadan, M. (2004).“Prospect for diversification in Nigeria export Trade” inAnnual conference of the Nigeria Economic society (NES).Heinemannpress, Ibadan. Pg. 35 – 55, unpublished Empass, press
Oni, B. (2006) ‘Employment Generation: Theoretical and Empirical Issues’, paper presented at the 2006 Annual Conference of the Nigerian Economic Society. Calabar, (August).
Pieper, U. (1998) ‘Openness and Structural Dynamics of Productivity and Employment in Developing Countries: A Case of De-industrialization?’ ILO Employment and Training Papers 14, Geneva: International Labour Organisation.
Rama, M. (2003) ‘Globalization and Workers in Developing Countries”, World Bank Policy Research
Working Paper No. 2958. Washington, DC: World Bank.World Bank (2002). World Development Indicators, Washington D.C., The World Bank.

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IMPACT OF TRADE LIBERALIZATION ON EMPLOYMENT GROWTH IN NIGERIA (1981-2013)

EMPIRICAL ANALYSIS OF THE IMPACT OF FOREIGN DIRECT INVESTMENT ON THE ECONOMIC GROWTH IN NIGERIA

EMPIRICAL ANALYSIS OF THE IMPACT OF FOREIGN DIRECT INVESTMENT ON THE ECONOMIC GROWTH IN NIGERIA A CASE STUDY OF NIGERIA BOTTLING COMPANY

ABSTRACT

 

The study of the nature involves a lot of deep research and understanding of the factors, which creates the effects on the subject matter.  Primarily, these factors were more economical than managerial as the case may be, on the understanding that this research work is being casual out under a management setting or department. Just as the subject matter is, the impact of foreign direct investment on the Nigerian Economy with a case study of Nigerian Bottling Company Plc, it is based on the economic, social and entrepreneurial impacts created by these multinational companies like NBC Plc on their host societies.  Based on this, the objective of this study was to determine through quantitative and quantitative measures whether the benefits of multinational enterprises (MNE’S) out weigh the cost that results from their activities in the hose countries.The first chapter of this work contains a general discussion (i.e. critics and defense) of FSI’s activities in host countries.  Further the statement of the research problem was studied and the need for the study.  The scope and limitation to the research work was finally looked into with the stated hypothesis which guide the researcher in his evaluations. In chapter two, a number of part related literatures were examined as it relates to the impact of foreign direct investment to Nigeria as the case may be with particular reference to NBC Plc activities in Enugu Zone.  Chapter three treated the design of the study, the method of collecting data and the ways in which the questionnaires were distributed within the chosen population. The data gathered from the research were analysed and interpreted in chapter four of this research report. Finally, the summary of findings, conclusions on the research work and recommendations were given by the researcher all in chapter five.It is believed that these recommendations made in this study will help both the multinationals in their relationship with their host communities as well as creating an enabling environment from the host country for their business to there.

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EMPIRICAL ANALYSIS OF THE IMPACT OF FOREIGN DIRECT INVESTMENT ON THE ECONOMIC GROWTH IN NIGERIA A CASE STUDY OF NIGERIA BOTTLING COMPANY

GLOBALIZATION AND ECONOMIC DEVELOPMENT IN NIGERIA: AN ASSESSMENT

GLOBALIZATION AND ECONOMIC DEVELOPMENT IN NIGERIA: AN ASSESSMENT

ABSTRACT

The main aim of the research project dwells on Globalization and Economic Development in Nigeria an Assessment. Globalization was viewed as the bilateral relations that exist betweens countries for either political or economical purpose and also as a means of developing the under developed countries with technological advancement from developed countries.  The review of different literatures in the chapter of the work, looked at the challenges of globalization, in underdeveloped societies, as language barrier, political interference, policies, education etc.  The impact of globalization was viewed from different perspectives, both negative and positive, globalization has assisted Nigeria as a developing country, in competing with other developed countries.  Both primary and secondary sources of data collection were used, the population of the study was determined by the use of chi-square statistical formular, and the data of the study were analyzed with the use of simple lable and percentage.  The findings of the study revealed that globalization has made the in undeveloped countries to become a dumping ground for the developed societies, the findings further revealed that with the aid of globalization the world is now a global village.  The study recommended that the government should enter into bilateral relations that will assist to develop the economy of the country, and also government should release found for research and sciences, so as the bring about economic development in the country.

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GLOBALIZATION AND ECONOMIC DEVELOPMENT IN NIGERIA: AN ASSESSMENT

THE USE OF SUPPLY CHAIN MANAGEMENT IN MANUFACTURING ORGANISATION TO CONTROL INVENTORY LEVELS WHILE PROVIDING ADEQUATE SERVICE TO CUSTOMERS

THE USE OF SUPPLY CHAIN MANAGEMENT IN MANUFACTURING ORGANISATION TO CONTROL INVENTORY LEVELS WHILE PROVIDING ADEQUATE SERVICE TO CUSTOMERS; A CASE STUDY OF EASTWIND FOODS

 INTRODUCTION
Supply-chain management and it encompasses all of those integrated activities that bring product to market and create satisfied customers. The Supply Chain Management Program integrates topics from manufacturing operations, purchasing, transportation, and physical distribution into a unified program. Successful supply chain management, then, coordinates and integrates all of these activities into a seamless process. It embraces and links all of the partners in the chain. In addition to the departments within the organization, these partners include vendors, carriers, third party companies, and information systems providers Within the organization, the supply chain refers to a wide range of functional areas. These include Supply Chain Management-related activities such as inbound and out bound transportation, warehousing, and inventory control. Sourcing, procurement, and supply management fall under the supply-chain umbrella, too. Forecasting, production planning and scheduling, order processing, and customer service all are part of the process as well. Importantly, it also embodies the information systems so necessary to monitor all of these activities. Simply stated, the supply chain encompasses all of those activities associated with moving goods from the raw-materials stage through to the end user.”
Advocates for this business process realized that significant productivity increases could only come from managing relationships, information, and material flow across enterprise borders. One of the best definitions of supply-chain management offered to date comes from Bernard J. (Bud) La Londe, professor emeritus of Supply Chain Management at Ohio State University. La Londe defines supply-chain management as follows: “The delivery of enhanced customer and economic value through synchronized management of the flow of physical goods and associated information from sourcing to consumption. “As the “from sourcing to consumption” part of our last definition suggests, though, achieving the real potential of supply-chain management requires integration not only of these entities within the organization, but also of the external partners. The latter include the suppliers, distributors, carriers, customers, and even the ultimate consumers. All are central players in what James E. Morehouse of A.T. Kearney calls the extended supply chain. “The goal of the extended enterprise is to do a better job of serving the ultimate consumer,”. Superior service, he continues, leads to increased market share. Increased share, in turn, brings with it competitive advantages such as lower warehousing and transportation costs, reduced inventory levels, less waste, and lower transaction costs.
The customer is the key to both quantifying and communicating the supply chain’s value, confirms Shrawan Singh, vice president of integrated supply-chain management at Xerox.
“If you can start measuring customer satisfaction associated with what a supply chain can do for a customer and also link customer satisfaction in terms of profit or revenue growth,” Singh explains, “then you can attach customer values to profit & loss and to the balance sheet.”
The best companies around the world are discovering a powerful new source of competitive advantage. It’s called supply-chain management and it encompasses all of those integrated activities that bring product to market and create satisfied customers.The Supply Chain Management Program integrates topics from manufacturing operations, purchasing, transportation, and physical distribution into a unified program. Successful supply chain management, then, coordinates and integrates all of these activities into a seamless process. It embraces and links all of the partners in the chain. In addition to the departments within the organization, these partners include vendors, carriers, third party companies, and information systems providers.

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THE USE OF SUPPLY CHAIN MANAGEMENT IN MANUFACTURING ORGANISATION TO CONTROL INVENTORY LEVELS WHILE PROVIDING ADEQUATE SERVICE TO CUSTOMERS; A CASE STUDY OF EASTWIND FOODS

THE ROLE OF E-COMMERCE IN IMPROVING CUSTOMER SATISFACTION

THE ROLE OF E-COMMERCE IN IMPROVING CUSTOMER SATISFACTION (A CASE STUDY OF JUMIA)

CHAPTER   1
1.1      BACKGROUND OF THE STUDY
The use of e-commerce websites can lead to accepting and satisfying intentions and then influence customer satisfaction behavior towards an e-commerce website Customer satisfaction is how satisfied a customer is with the supplied product/service. It is closely related to interpersonal trust [Geyskens, Steenkamp, Scheer, and Kumar 1996].

[Zins 2001], stated , it is expected that a higher level of customer satisfaction will lead to greater loyalty. However, the impact of satisfaction on customer loyalty is rather complex. Fisher [2001] believes that customer satisfaction accounts for only part of why people change product or service providers. Other studies have shown that customer satisfaction is a leading factor in determining loyalty [Anderson and Lehmann 1994]. Anderson and Srinivasan [2003] found that both trust and perceived value, as developed by the company, significantly accentuate the impact of satisfaction on e-Journal of Electronic Commerce Research, VOL 12, NO 1, 2011 Page 8 commerce loyalty. In a more recent study by Cyr [2008] it was found that website satisfaction is strongly related to loyalty in three countries: Canada, Germany, and China.

Generally, loyalty has been defined as the repeat purchasing frequency or the relative volume of same-brand purchasing. Oliver [1997] defines customer loyalty as a deeply held commitment to re-buy or re-patronize a preferred product/service consistently in the future, thereby causing repetitive same brand or same brand set purchasing, despite situational influences and marketing efforts having the potential to cause switching behavior. In e-commerce, loyal customers are considered extremely valuable. Today, e-retailers are seeking information on how to build customer loyalty. Loyal customers not only require more information themselves, but they serve as an information source for other customers. Building customer loyalty is one of the biggest challenges for business to customer  e-commerce. Several antecedents of customer loyalty have been proposed. Customer satisfaction and trust have been brought forward as a precondition for patronage behavior [Pavlou 2003] and the development of long-term customer relationships [Papadopoulou, Andreou, Kanellis, and Martakos 2001].

The study by Kassim and Ismail [2009] found that services quality and vendor’s assurance to online customers, contribute to building trust and satisfaction thereby improving customer loyalty. These study shall therefore determine the role of e-commerce in improving customer service.

1.2      STATEMENT OF THE PROBLEM
E-commerce constitute a significant business process of transacting  modern business services as vast population of people are hooked to online services through the internet and various websites.
However, creating customer satisfaction is pivotal to enhance customer loyalty and repeat patronage which is dependent on a number of factors.
The problem confronting this research is to investigate the role of e-commerce in improving customer satisfaction. With a case study of JUMAI
1.3      RESEARCH QUESTION
What is the nature of e-commerce?
What is customer satisfaction and what factors determine customer satisfaction in  e-commerce?
What is the role of e-commerce In improving customer satisfaction?
How does JUMAI e-commerce improve customer satisfaction?
1.4      OBJECTIVE OF THE STUDY
To appraise the nature of e- commerce business services
To appraise customer satisfaction and factors determining customer satisfaction
To determine the role of e-commerce in improving customer satisfaction
To determine the JUMAI e-commerce services in improving customer satisfaction

1.5      SIGNIFICANCE OF THE STUDY
1      The study shall  provide a conceptual and theoretical appraisal of  the nature of e-      commerce
2          The study shall determine the role of e-commerce in improving customer satisfaction
3          The study shall provide information on e-commerce to organizations, IT professionals, and Business managers
1.6          STATEMENT OF HYPOTHESIS
1          H0        E-commerce product/service of JUMAI does not have significant impact on               customer satisfaction
H1        E-commerce product/service of JUMAI have significant impact on customer satisfaction
2          H0      E-commerce security feature of JUMAI does not have significant impact on     customer satisfaction
H1       E-commerce  security feature of JUMAI have significant impact on                   customer satisfaction
3          H0        E-commerce user interface of JUMAI  does not have significant impact on                             customer satisfaction
HI        E-commerce user interface of JUMAI have significant impact on customer                 satisfaction
1.7        SCOPE OF THE STUDY
The study focuses on  the role of e-commerce in improving customer service. It provides a conceptual and theoretical appraisal of the nature of e-commerce and the factors which determine customer satisfaction in e-commerce
1.8      DEFINITION OF TERMS
E-COMMERCE  IS DEFINED
E-commerce is a short  term for electronic commerce, It  consist of  trading in products or services using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction’s life cycle, although it may also use other technologies such as e-mail.

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THE ROLE OF E-COMMERCE IN IMPROVING CUSTOMER SATISFACTION (A CASE STUDY OF JUMIA)

THE IMPACT OF OUTSOURCING DECISION ON MATERIAL AVAILABILTY

THE IMPACT OF OUTSOURCING DECISION ON MATERIAL AVAILABILITY  (A CASE STUDY OF SEVEN UP BOTTLING COMPANY)

 

CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Material availability and input reliability shape productivity, especially in developing countries. For some resources like water, storage devices can be used to manage unreliable services (Baisa et al. 2010). However, electricity requires that agents respond in other ways, as power is prohibitively expensive to store. A common response to sustained power supply issues is for .rms to invest directly in technology in order to generate electricity on site, or .self generation..1 By crowding out other investment opportunities, blackouts reduce productivity (Reinikka and Svensson 2002).2 In contrast to the literature, this paper examines how the onset of blackouts a¤ect productivity in an immense and rapidly-growing economy, namely China. Using enterprise-level panel data, we study how .rms respond to blackouts and estimate the resulting lost productivity and environmental e¤ects.
In the early 2000s, industrial customers in nearly every province in China experienced blackouts associated with resource scarcity (IEA 2006).3 Despite e¤orts to build new power plants at a rapid rate, double-digit economic growth has led to a tight market. Furthermore, retail electricity remains under price-cap regulation with limited price response to shortages.
Finally, residential and commercial electricity consumers were given priority over industrial customers. While historic in the magnitude of blackouts, this remains a major concern for China. As recently as the summer of 2011, China faced substantial power shortages.

Although outsourcing is still at its developing stage in Nigeria, it has benefited many companies (Orji, 2002) as well as created jobs opportunities for many Nigerians as well. Firms outsourcing part of their production process and services are benefiting from increased efficiency and profits.

The decision to outsource comes with numerous responsibilities and considerations by the company willing to outsource. The need to improve and speedup the production process of a firm may lead to a firm deciding to contract or outsource some of its production process to another firm or vendor to handle. The issue of wastages in developing countries including Nigeria has been a major issue. The in-ability of companies to effectively manage their outsourcing process is alarming.

Having identified non-core activities, Domberger (1998) emphasises the importance of developing a “framework of analysis which provides a structured, systematic approach to contracting decisions and outsourcing strategies” (p.9).
Farney et al. (2004) and Gay and Essinger (2000) describe the importance of formal procurement procedures in creating a global vision for outsourcing and selecting outsourcing providers.
However, even when organisations set out to carefully evaluate an outsourcing opportunity, making accurate comparisons of internal processes relative to external providers can be extremely difficult (Hayward & McDonagh, 2000).
There is a huge variation in how organisations define processes such as Order-
Entry or Accounts Payable and little standardisation in how organizations deliver and manage these processes. Davenport (2005) argues it is therefore very difficult to compare what happens internally to what is on offer externally.
Davenport goes on to describe the benefit of establishing business process standards for use in outsourcing decisions and to facilitate improvement of internal capabilities.
Acknowledging that specific skill-sets are required to outsource, then developing the expertise and supply of outsourcing skills is likely to continue to gain momentum. Govpro (2005) discussed the changing role of the Tim Collins procurement professional and Hazra (2004) describes how it has become critical to take a longer term, balanced, strategic view of outsourcing opportunities. Gay and Essinger (2000) suggest that a strategic approach to outsourcing is most effective when organisations are prepared to adopt a new perspective on management control with the focus on output rather than inputs, these views are supported by Quinn in a recent interview; Companies might have brilliant designers, lawyers etc., but might not have the capability needed for managing outsourcing. They need to have the ability to evaluate alternative cost structures and to understand the strategic risks of outsourcing to one partner versus another. A good outsourcing manager must be able to motivate partners to do what is needed. They must be able to monitor the deal – through software and personal contact – without interfering; to get lead signals they need to maintain strategic control. They need a totally different set of management skills, and the real essence of these skills is a learning capability and willingness.
1.2 STATEMENT OF THE PROBLEM
Outsourcing is still at its developing phase in Nigeria and has brought numerous benefits to companies in Nigeria practicing it. Never the less, wastages of raw materials and human resource have been a major challenge with companies outsourcing. A study conducted by Farney et al (2004) revealed that most companies in developing countries fail due to wastages leading to scarcity of materials, poorly structured outsourcing process and decision. Low labour cost countries like China and India have experienced huge growth providing outsourced products and services to more developed Western economies in recent years. However the internal infrastructures in developing countries are often not adequate to cope with such rapid growth, therefore resulting in the accumulation of waste products.

Companies might have brilliant designers, lawyers etc., but might not have the capability needed for managing outsourcing. They need to have the ability to evaluate alternative cost structures and to understand the strategic risks of outsourcing to one partner versus another. A good outsourcing manager must be able to motivate partners to do what is needed. They must be able to monitor the deal – through software and personal contact – without interfering; to get lead signals they need to maintain strategic control. They need a totally different set of management skills, and the real essence of these skills is a learning capability and willingness.

1.3 OBJECTIVES OF THE STUDY
The main aim of the study is to examine the impact of outsourcing decision on material availability. Specific objectives of the study are:

  1. To evaluate the criteria used when making the outsourcing decision in seven up bottling company, Lagos.
  2. To identify outsourcing challenges of seven up bottling company.
  3. To examine the effect of outsourcing decision on material availability in seven up bottling company, Lagos.
  4. To suggest better outsourcing strategies that can be adopted by seven up bottling company.

1.4 RESEARCH QUESTIONS
In-order to achieve the stated aim and objectives above, the researcher developed the following research questions:

  1. What outsourcing process does the management of seven up bottling company pass through before outsourcing?
  2. What outsourcing challenges do seven up bottling company face?
  3. What are the effects of outsourcing decisions on material availability?

1.5 RESEARCH HYPOTHESIS
To validate findings from the study, the researcher formulated the following hypothesis:

  1. Ho: There is no significant relationship between outsourcing strategy and the performance of an organization.

Hi: There is a significant relation between outsourcing strategy and the performance of an organization.

  1. Ho: Outsourcing decisions do not directly affect material availability in the production process.

Hi: Outsourcing decisions directly affect material availability in the production process.

1.6 SIGNIFICANCE OF THE STUDY
The study will highlight various outsourcing strategies that will be beneficial to both management and staff of seven up bottling company. The study will also show case outsourcing challenges to enable procurement managers and officers in organizations to have a deep understanding of these challenges and develop strategies to tackle them effectively.
1.7 SCOPE OF THE STUDY
The study will cover the impact of outsourcing decision on material availability using seven-up bottling company, Lagos as a case study. All findings and recommendations from the study may not reflect the true view of outsourcing management and strategy in Nigeria, as the researcher could not cover a wider area due to financial and time constraints.

 

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THE IMPACT OF OUTSOURCING DECISION ON MATERIAL AVAILABILITY (A CASE STUDY OF SEVEN UP BOTTLING COMPANY)

THE EFFECTIVENESS OF PROMOTIONAL MIX ELEMENTS IN THE TELECOMMUNICATION SECTOR OF NIGERIA

THE EFFECTIVENESS OF PROMOTIONAL MIX ELEMENTS IN THE TELECOMMUNICATION SECTOR OF NIGERIA

INTRODUCTION

Promotion is a key element in marketing. Successful promotion is the third essential ingredient or element in marketing strategy. Prospective buyers must learn about both the products distinctive want satisfying characteristics and its availability. Establishing and maintaining communications links with target market segments are main tasks assigned to promotion. Promotion is a component of the 4ps that make up the marketing mix by far the most effective.
Pride and Ferrell (2008) defined promotion as a communication that builds and maintains favourable relationship by information and persuading one or more audiences to view an organization positively and to accept its products. According to them, promotion informs potential customers about the product.
What it is, what it does; how it can be use and where it can be purchased.
Kotler and Keller (2008) peruse promotion as the means by which firms attempt to inform persuade and remind consumers –directly or indirectly about the products and brands they sell. Promotion represent the voice of the organization and its brands and are means by which its can establish a dialogue and builds relationship with customers.
Stanton (1981) defined promotion as the design and management of marketing b sub system for the purpose of informing and persuading present and potential customers.
Ekakitie (2010) sees promotion as the systematic design and communication of product(s) ideas, knowledge and attribute to identified market segment with a view to eliciting customer response through the use of appropriate communication medium and technology. Me Neal (1966) defined promotion as any communication activity whose purpose is to move forward a product, service or idea in a channel of distribution. He added that promotion is used by marketers to inform consumers of the availability and attributes products and at certain times.
Achuba and Osuagwu (1994) perceived promotion as the art of transmitting information for marketing purposes. It is the process of establishing communication relationships between a marketer and its publics. Dean (1946) defined promotion as the flow of persuasive communication between the firm and various selected audience. Kotler (1997) asserted that modern marketing calls for more than developing a good product/service and pricing it attractively and marketing it accessible to target customers. Companies must also communicate with their customers.
Aluko (1998) described promotion as those activities that are designed to bring a company’s goods and services to favourable attention of customers. He also asserted that promotion is characterized by product information function, company’s sales effort to current and prospective customers among others. Odugbesan and Osuagwu (1996) perceived promotion as those decision and methods of communicating all aspects of the organization’s product and services to reach the target consumer or audience.
With the various definitions of promotion given above, the literature review will further be enriched with a brief history of the Nigerian telecommunication industry in recent times. This will thereafter be followed by various methods of promotion and it various application in the telecommunication industry.

    1. NIGERIAN TELECOMMUNICATION INDUSTRY “ A BRIEF HISTORICAL OUTLINE

A little History and industry statistics: The Nigerian Telecommunication industry has experienced exponential growth in the last ten years, going from active subscriber line of 400,000 and tele density of 0.04% to active subscriber line of over 90million and tele density of 64% as of July 2011. The country telecom market has been described as one of the fastest growing telecommunication market in the world. The driving factor is the government’s robust policy which fully liberalized the sector about a decade ago when the story of progress and development in the sector really started to unfold.
Nigeria is located in West Africa on the Gulf of Guinea, and has a total land area of 923,768 square kilometers (356,669 square miles), making her the 32nd largest country in the world. Nigeria is made up of 36 states and the Federal capital territory (Abuja) with a population of over 150million people making her the most populous nation in Africa. Thus we are a happy country that likes talking. Telecommunication services are critical to the development of all aspects of a nation’s economy, ranging from banking and education to agriculture and healthcare, etc.
Nigerian communication commission is the body responsible for the regulation of the activities of telecommunication industry. It was established by law in 1992, but commenced full market liberalization and sector reform in 2000. The national telecommunication policy which came into force in the year 2000, apart from giving an overall direction for telecommunication development, also ensured that policy would remain consistent with other national policies.
There is no environment without market challenges and telecommunication industry is not exempted. Operators in the Nigeria telecommunication industry will complain of inadequate power supply, Multiple Taxation, vandalization of facilities and some other issues. While I want to say that the Nigerian government is taking very definite steps to address these challenges, such challenges are hardly strong enough to threaten the existence of industry operations, their operations or threaten their annual returns. It is also interesting to know that some of these challenges are being turned into attractive business opportunities by the present administration. For instance, government policy on power generation is attracted quite a number of foreign investors into the country. Solving the problem of energy will boost the activities of the telecom operators reduce their headache and increase their returns.

    1. METHODS OF PROMOTION

There are 6(six) main methods of promotion available from which management in telecommunication industry can select a suitable mix for marketing activities. They include

  1. Advertising
  2. Sales promotion
  3. Personal selling

 

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THE EFFECTIVENESS OF PROMOTIONAL MIX ELEMENTS IN THE TELECOMMUNICATION SECTOR OF NIGERIA

THE EFFECT OF ADVERTISING ON SALES VOLUME OF AN ORGANIZATION

THE EFFECT OF ADVERTISING ON SALES VOLUME OF AN ORGANIZATION

 

CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF STUDY
Advertiser’s primary mission is to reach prospective customers and influence their awareness, attitudes and buying behaviour. They spend a lot of money to keep individuals (markets) interested in their products. To succeed, they need to understand what makes potential customers behave the way they do. The advertisers goals is to get enough relevant market data to develop accurate profiles of buyers-to-find the common group (and symbols) for communications this involves the study of consumers behaviour: the mental and emotional processes and the physical activities of people who purchase and use goods and services to satisfy particular needs and wants. Advertising is any paid form of non personal presentation and promotion of ideas, goods, or services by an identified sponsor (Kotler and Armstrong, 2010). There are various forms of advertising like informative advertising, persuasive advertising, comparison advertising, and reminder advertising. Informative advertising is used to inform consumers about a new product, service or future or build primary demand. It describes available products and services, corrects false impressions and builds the image of the company, (Kotler, 2010).Advertising can be done through print media which includes news papers ,magazines ,brochures ,Audio media for example Radio, and visual media which includes billboards, and television (Kotler and Armstrong 2010).
Sales performance describes the trend of collections in terms of revenue when comparing different periods (MC Cathy, 1994). The sales may be in form of offering products or services to consumers. A service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in ownership of anything (Kotler and Armstrong, 2010).Sales volume is the core interest of every organization and is based on sales and profit .When volume goes up profits rises and management in organizations is made easier.

1.1.1 ORGANIZATIONAL PROFILE
The Nigerian Bottling Company Ltd is one of the biggest companies in the non-alcoholic beverage industry in the country and is the sole franchise bottler of The Coca-Cola Company in Nigeria.
The Nigerian Bottling Company serves approximately 160 million people by producing and distributing a unique portfolio of quality brands, bringing passion to marketplace implementation, and demonstrating leadership in corporate social responsibility.

NBC Ltd started operations in Nigeria in 1951. Based in the city of Lagos, it operates 13 bottling plants across the country. In addition, we channel products through 59 warehouses and distribution centres. The company employ about 4,800 people and indirectly support the jobs of up to more than a million more in our value chain.
Nigerian Bottling Company aims to be customers’ most preferred supplier, and conduct programmes to support more than 450,000 customers who sell their products to consumers.
The company is part of the Coca-Cola Hellenic Group , one of the largest bottlers of The Coca-Cola Company’s products in the world, and the biggest in Europe. Coca-Cola Hellenic operations span 28 countries , serving more than 570 million people. The company is headquartered in Athens and listed on the Athens, New York, and London stock exchanges.

  • Products
  • NBC produce, sell and distribute a wide range of beverages, most of which are trademark products of The Coca-Cola Company. Our product portfolio consists of:
  • leading brands Coca-Cola, Coca-Cola light, Fanta and Sprite
  • local brands such as Schweppes, Five Alive, Limca and Eva

The Nigerian Bottling Company continuously review opportunities to expand its product portfolio in order to offer consumers in Nigeria an increasing range of choices. Every measure is taken to ensure that its products are of the highest quality.

1.2 STATEMENT OF THE PROBLEM
The Nigerian Bottling Company carries out frequent advertising of their products to increase their sales volume, through taking part in charitable funds in Nigeria and even sponsoring sports .It advertises using radio, television and newspapers.
Despite its efforts in advertising regularly   the sales of Nigerian Bottling Company industry have not improved to the desired targets. The sales in Nigerian Bottling Company for the past four years have not been steady.
 1.3 PURPOSE OF THE STUDY     
The purpose of the study was to establish the impacts of advertising on sales volume of an organization.

1.4 OBJECTIVES OF THE STUDY

  • To examine the forms of advertising used by The Nigerian Bottling Company.
  • To establish the level of sales performance in Nigerian Bottling Company.
  • To establish  the relationship between advertising and sales in Nigerian Bottling Company industry

1.5 RESEARCH QUESTIONS

  • What are the forms of advertising used by Nigerian Bottling Company?
  • What is the level of sales performance of Nigerian Bottling Company?
  • What is the relationship between advertising and sales performance in Nigerian Bottling Company industry?

1.6 SCOPE OF THE STUDY

Content scope
The study covered advertising as the independent variable and sales performance as the dependant variable.
Geographical scope
The study was cantered at the Nigerian Bottling Company industry in Lagos because it is the headquarter of the industry where marketing plan is carried out, and it has large sales volume
Time scope
The study looked at five financial years back that is 2006 to 2010

1.7 SIGNIFICANCE OF THE STUDY 
The study will help firms understand the importance of advertising. It will also enable them structure their adverts and brands to make them more appealing in order to improve sales and lead to better performance. As this study gives a clear insight into how advertisement can influence consumer behaviour, many firms will be encouraged into using adverts to market their products. When firms start making more sales and profits as a result of advertising, the economy of Ghana will be boosted, as more income from tax will be accrued to the government of Ghana. The findings and recommendations of this study will go a long way in helping firms to adopt good advertising strategies, and appealing brand designs to help get more consumers for their products and services.

1.8 PLAN OF STUDY
Chapter one of this study includes the general introduction, background information about the study, statement of the problem, objectives of the study, research questions, scope of the study, significance of the study, and the limitation of the study.

Chapter two reviews all relevant literatures relating to the study as well as the researcher’s views concerning previous studies on the challenges of income taxation.

Chapter three includes the methodology applied in collecting and analysing data, population definition, study site, and limitations.

Chapter four presents the results of the study as well as data analysed, and the interpretation of the analysed data.

Chapter five includes a summary of the study, conclusion and recommendations based on the findings from the study.
1.9 STUDY LIMITATION
The only limitation faced by the researcher in the course of carrying out this study was the delay in getting data from the various respondents. Most respondents were reluctant in filling questionnaires administered to them due to their busy schedules and nature of their work. The researcher found it difficult to collect responses from the various respondents, and this almost hampered the success of this study.

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THE EFFECT OF ADVERTISING ON SALES VOLUME OF AN ORGANIZATION

EVALUATION OF THE ROLE OF SOCIAL AND ECONOMIC INFRASTRUCTURE IN THE PROMOTION OF BUSINESS ACTIVITIES IN NIGERIA

EVALUATION OF THE ROLE OF SOCIAL AND ECONOMIC INFRASTRUCTURE IN THE PROMOTION OF BUSINESS ACTIVITIES IN NIGERIA (A CASE STUDY OF SOME SELECTED SMES IN ABUJA)

CHAPTER ONE
INTRODUCTION

1.1 BACKGROUND OF THE STUDY
The focus on economic development has shifted in recent years from public-sector led economic development to private sector driven economic development. In achieving this, the Small and Medium Enterprise (SME) sector is usually relied upon because of extant scholarly knowledge of its capacity to contribute to economic development.
In 2002, the Honourary Presidential Council on Investment (HPACI) SME sector profile reveals that the SMEs contribute as much as 40% of GDP in developed economies and some developing nations. The report further shows that SMEs constitute over 90% of firms in Nigeria with a meagre 1% contribution to GDP. This disproportionate contribution is as a result of factors within the business environments.
Studies have adduced several reasons including access to finance, infrastructural limitations, entrepreneurial competence of owner-managers and the impact of multiple tax, to explain differences in SMEs contributions to GDP (Kessides, 1993; Sule, 1980 and Anyanwu, 1994; HPACI, 2002, and Aruwa, 2004). Foremost of these barriers are inadequate finance and lack of infrastructures. Kessides (1993) recognises the significance of infrastructure in the process of economic growth.
Interestingly, the Honourary Presidential Council on Investment (HAPCI, 2002), after an in-depth study of the SME sector, gave the reasons limiting the role of SMEs as the hub of entrepreneurship in Nigeria. Some of the reasons given were infrastructural limitations, access to finance, access to enterprise support services, unfavourable business environment and poor access to information about sources of raw materials and market network. There is a recurrence on the greater impact of limited access to finance, entrepreneurial incompetence and inadequate infrastructure in the SME literature.
The need to improve SME development in Abuja is particularly timely given the crises and attendant less propitious economic situation that has bedevilled the capital since the 1980s. This manifested by way of the deplorable nature of socio-economic infrastructure. This has the effect of imposing heavy cost and of shifting of resources away from productive private investment since domestic and foreign entrepreneurs would only invest where infrastructure exists and satisfactory rate of return is assured.
Sani (2001) observes that indices of micro-economic infrastructural facilities are inadequate and the operation of the functional ones has not been efficient. This indeed has dire consequences for business performance. The SME sector in Nigeria operates in an environment with very poor infrastructure, which deter prospecting firms from entry and hinders international competitiveness (Aruwa, 2004).
1.2 STATEMENT OF THE PROBLEM
The provision of infrastructure services to meet the demands of businesses-both small and medium scale, is one of the major challenges of economic development in Nigeria. The provision of economic and social infrastructure can expand the productive capacity of the Nigerian economy by creating enabling environments for small and medium scale businesses in an economy, thereby encouraging economic development.
This is not always the case as small businesses in Nigeria suffer from bad roads to constant power outages. A study conducted by Ogbonnaya (2010) demonstrated empirically that no matter how novel the policies or incentives to drive the industrial sector are, if the infrastructural problems are not fixed, the policy objective of accelerating the growth of the industrial sector may not be realized.
The significance of infrastructure in the process of economic growth has long been established. Infrastructure has been seen as the basic requirement for business establishment and survival. The costs of acquiring infrastructures are significantly enormous for SMEs to bear and therefore, government intervention is inevitable. However, the depth of impact, the degree of impact or relationship coefficient has not been established particularly in respect of Kaduna state. This makes this paper distinguishable.

1.3 OBJECTIVES OF THE STUDY
The main aim of the study is to evaluate the role of economic and social infrastructure in promoting business activities in Nigeria. The specifi objectives are:

  1. To identify infrastructure challenges that affect business activities in FCT Abuja.
  2. To evaluate the specific roles played by both economic and social infrastructures in promoting business activities in FCT Abuja.
  3. To suggest entrepreneurial policies that will enhance the operations of small and medium scale businesses in FCT Abuja.

1.4 RESEARCH QUESTIONS
1. What infrastructural challenges affect the smooth operation of businesses in Abuja?
2. What role have economic and social infrastructure played in promoting small business activities in Abuja?
3. What policies if introduced by the government will help promote small and medium scale business activities in Abuja?

1.6 SIGNIFICANCE OF STUDY
Small and Medium scale Enterprises (SMEs) in Africa rely largely on own savings, not only to grow but also to innovate, firms often need real services support and formal finance assistance, failing which under-investment in long term capabilities (training and R&D) may result, (Oyelaran-Oyeyinka, 2003).
Besides finance, there are critical elements (including: knowledge, skills and experience of staff; capacity and quality of internal facilities; information and knowledge of market; intellectual and managerial leadership; external infrastructure and the incentive system at the micro and macro levels) that lacking within technology support institutions themselves. These undermine the effectiveness of their support to Small and Medium scale Enterprises (SMEs). This study is significant because it would help to evaluate the operations of a vital segment of the industrial sector – Small and Medium Scale Enterprises (SMEs) , which have been identified as having very high potential in promoting economic growth and development (Oni and Daniya, 2012). The evaluation shall be done with special focus on their financing thereby adding to the existing literature on the subject matter.

 

1.7 SCOPE OF THE STUDY
This research work focuses on the role infrastructures such as economic and social infrastructures have played in  the promotion of Small and Medium Scale Enterprises (SMEs) in Nigeria paying special attention to the impact the government of Nigeria has on the development of Small and Medium Scale Enterprises. The research intends to study the essential problems encountered by Small and Medium Scale Enterprises and suggest ways by which they can be adequately and efficiently promoted.
Most of the information and data needed for the study would be gathered from existing literature and from some selected business owners in FCT Abuja.

1.8 LIMITATION OF THE STUDY
Limitations faced in the course of the research were accessibility to information, difficulty in accessing the target sample during working hours due to the busy nature of their operations, inability to use a large sample size due to time and resource constraints, unwillingness of small business owners to pour out their grievances for fear of victimization if found out.

 

1.9 DEFINITION OF TERMS
Business: The Oxford Learner’s Dictionary defines business as a commercial activity, a means of live hood, a trade, profession, occupation, etc.
Capital: capital can be defined s man-made productive asset that are set aside for the production of other assets. In other restricted cases, it is defined as money set aside to start business.
Economic Development: it can define as the process whereby a country’s real per capital gross national product of income increases over a sustained period of time through continuing increases i.e. per capital productivity.
Economic Growth: Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Growth is usually calculated in real terms, i.e. inflation-adjusted terms, in order to obviate the distorting effect of inflation on the price of the goods produced. In economics, “economic growth” or “economic growth theory” typically refers to growth of potential output, i.e., production at “full employment“.

Economy: the word is used to mean a particular system of organization for the production, distribution, and consumption of all things people use to achieve a certain standard of living. .
Entrepreneurship: The willing and ability of an individual to seek out investment opportunities in an environment, and an environment, and be able to establish and run an enterprise successfully based on the identified opportunities.
Infrastructure: Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function. It can be generally defined as the set of interconnected structural elements that provide framework supporting an entire structure of development. It is an important term for judging a country or region’s development.

Role: according to Merriam-Webster’ dictionary is defined a function or part performed especially in a particular operation or process or major.
SMEs: Small and medium enterprises or small and medium-sized enterprises (SMEs, small and medium-sized businesses, SMBs, and variations of these terms) are companies whose personnel numbers fall below certain limits. The abbreviation “SME” is used in the European Union and by international organizations such as the World Bank, the United Nations and the World Trade Organization (WTO). Small enterprises outnumber large companies by a wide margin and also employ many more people. SMEs are also said to be responsible for driving innovation and competition in many economic sectors.

REFERENCES:
Kessides, H. (1993). Infrastructure and Economic Growth. Quoted In: The 2005 Annual Report of the Ministry of Economic Development. New Zealand .

Sani, B.M. (2001). ‘The Collapse of industries in Kano: Causes and Solutions. Paper presented at joint Annual general meeting of manufacturers Association of Nigeria. Kano.

Sule, E.I.K. (1986), Small Scale Industries in Nigeria. Concepts.

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EVALUATION OF THE ROLE OF SOCIAL AND ECONOMIC INFRASTRUCTURE IN THE PROMOTION OF BUSINESS ACTIVITIES IN NIGERIA 

EVALUATING THE GROWTH CHALLENGES OF INDIGENOUS COMPANIES IN NIGERIA

EVALUATING THE GROWTH CHALLENGES OF INDIGENOUS COMPANIES IN NIGERIA

ABSTRACT
This research was embarked upon to gain institute into growth of indigenous firms in Nigeria.   This is specifically an attempt to investigate the impact of indigenous firms among others.   The objective are not only to acquaint equitable growth for indigenous firm and also to cheek the challenges and prospects and to equally highlight its relevance among indigenous firms review of relaxed literature and theoretical framework also is arranged in logical sequence for the purposed of this study secondary sources, this data was analyzed using simple percentage and chi square.   The researcher also found out that the growth of indigenous firms also affects the scope-economic growth of our economy.   It is clear to note that indigenous firms have created impact on the country economy through export promotion financial institution and industrialization development strategies.
Finally, the summary of findings conclusion and recommendation where not left out, they are expected to serve as a basis for further researchers.

CHAPTER ONE
INTRODUCTION

BACKGROUND OF THE STUDY

One of the major economic backwardness of the most third world countries like Nigeria is the over prolonged sojourn of private foreign divestment in them.    The predatory exploitative orientation and activities of foreign monopoly capital, it inherent tendency to resist and hamper local industrialization and to perpetuate merchant capitalism and its determination and deliberate efforts to retard the growth of endogamous entrepreneurship all this have heavily influenced Nigeria economic history for well over a century.
This foreign dominance of commercial activities in Nigeria was made possible by restrictive practices employed by the established merchant firms.  It is important to note that commercial banking is a major source of credit (capital) was solely owned and controlled by foreign elements.   Their policies were made towards satisfying the needs of foreign enterprise, indigenous entrepreneurs merely subjected on the crumbs that fell on the gable.
(Ezeigwe .J. O) Nigerian government in the 1950s operated mainly an open door policy which attempted to live foreign investors into the country.
After the civil war, experiences showed that the issue of indigenous participation in the Nigerian economy once can be re-opened.   The dubious role played by foreign investors at various stages of the civil war and the acute shortage of essential commodities at the same period and the spirally inflationary trend that followed post war reconstruction and rehabilitation programs had contributed to inform the government that there was the necessity to allow the indigenes of Nigeria and government a hand in deciding their economic fortune.   The government was further persuaded by radical agitation of the politician s and the masses to do something about their economic difficulties.
With these pressures and economic difficulties mounting higher and higher, the government decided to whittle down foreign dominance of the economy on 23rd February 1972, the military government promulgated the Nigeria enterprise promotion Decree No. 4 of 1977 popularly known as the indigenization decree the following were the objectives.

  • To create opportunity for our people
  • To raise the proportion of indigenous firms and ownership of the productive sectors of the economy.
  • To maximize local retention of profit
  • To involve more Nigerians in the management and decision making process of business enterprises.   All in an effort to enhance indigenous growth of Nigeria firms.

PROBLEMS STATEMENT

A number of problems have been identified as being responsible for the backwardness and retardation in the general growth of Nigeria indigenous firms the persistent set back in the growth of the indigenous firms have been assumed to center on the followings:  Inadequacy of capital, poor technological manpower deficiency, mass illiteracy, management incapability and marketing in competency (National and internationally) etc there are many more that form the cove problems of the growth of our indigenous firms.
It is the intention of the researcher therefore to take a critical examination of the internal and external factors affecting the growth of our indigenous firms.
There is a general contention that the rate of growth of our indigenous firms, especially since the pushing aside of the aliens, has been slow.   This statement in the growth of indigenous firms in Nigeria, problems and prospects will be investigated and possible recommendation given as to the solutions.

OBJECTIVES OF THE STUDY
The main aim of the study is to evaluate the challenges associated with the growth rate of indigenous companies in Nigeria. The specific objectives of the study are:
1)      To identify the growth challenges being faced by indigenous firms in Nigeria.
2)      To render possible solutions to the challenges for use by the indigenous company managers in Nigeria.
3)      To examine the contributions of some government establishments and the activities of their officers in terms of investment, capital formation and cost control.

RESEARCH QUESTIONS

  • What are the growth challenges faced by indigenous companies in Nigeria?
  • How can the growth challenges facing indigenous companies in Nigeria be properly addressed?
  • What contributions have government establishments made towards the growth of indigenous companies in Nigeria?

RESEARCH HYPOTHESIS

  • Ho:    Lack of sufficient capital and poor financial management does not hinder the growth of indigenous firms in Nigerian.

Hi:     Lack of sufficient capital and poor financial management hinders the growth of indigenous firms in Nigeria.

  • Ho:      Marketing of products is not a major problem facing indigenous firms in Nigeria.

Hi:     Marketing a product is a major problem facing indigenous firms in Nigeria.

SIGNIFICANCE OF THE STUDY
The study will help pin point the various growth challenges of indigenous companies in Nigeria as well as solutions to these challenges. Findings and recommendations from the study will enable company managers and the government to rally together and develop better policies that will encourage our Nigerian owned companies to grow. The study will also bring out strategies and techniques that can be adopted by indigenous companies in Nigeria to beat foreign owned firms and survive competition.

SCOPE OF THE STUDY
The study is limited to the growth challenges of indigenous companies in Nigeria, using Ibom PowerCompany as a case study. Findings and recommendations from the study may not be used to generalize all indigenous companies in Nigeria as the researcher could not reach out to more indigenous companies in Nigeria due to time and financial constraints.

LIMITATION OF THE STUDY
The only limitation faced by the researcher in the course of carrying out this study was the delay in getting data from the various respondents. Most respondents were reluctant in filling questionnaires administered to them due to their busy schedules and nature of their work. The researcher found it difficult to collect responses from the various respondents, and this almost hampered the success of this study.

 ORGANIZATION OF STUDY

Chapter one of this study includes the general introduction, background information about the study, statement of the problem, objectives of the study, research questions, scope of the study, significance of the study, and the limitation of the study.

Chapter two reviews all relevant literatures relating to the study as well as the researcher’s views concerning previous studies on the challenges of income taxation.

Chapter three includes the methodology applied in collecting and analysing data, population definition, study site, and limitations.

Chapter four presents the results of the study as well as data analysed, and the interpretation of the analysed data.

Chapter five includes a summary of the study, conclusion and recommendations based on the findings from the study.

DEFINITION OF TERMS
MONOPOLY:      Means the sole right to trade on a particular goods or services.
CAPITAL:  This means wealth or property that can be placed to produce more wealth.
INVESTORS:           it means group of persons or organizations that invest a business venture.
ECONOMICS:     The production principles and distribution of goods and services and the development of wealth.
INFLATIONARY:         This means the persistent and continuous rise in prices and wages caused by increase in money supply and demand for goods and resulting in a fall in the value of money.
FIRMS:       Means business company or an organization.
MERCHANT:      Person involve in trade or commerce.
SECTORS: that parts or branch of a particular area of activity especially of a country’s economy.

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EVALUATING THE GROWTH CHALLENGES OF INDIGENOUS COMPANIES IN NIGERIA

THE ROLE OF COMMERCIAL BANKS IN FINANCING SME IN NIGERIA

THE ROLE OF COMMERCIAL BANKS IN FINANCING SME IN NIGERIA A CASE STUDY OF FIRST BANK PLC

INTRODUCTION
SMEs definition depends mainly on the level of development of the country. In most developed market economies like the United States of America, UK and Canada, the definition criterion adopted a mixture of annual turnover and employment levels. SMEs exist in the form of sole proprietorship and partnership, though some could be registered as limited liability companies and characterized by ; simple management structure, informal employer/ In Nigeria, the small and medium industries Enterprises investment scheme (SMIEIS) defines SMEs as any enterprise with a maximum asset base of N200 million excluding land and working capital and with a  number of staff employed not less than 10 or more than 300 .The federal ministry of commerce defines SMEs as firms with a total investment (excluding cost of land but including capital) of up to N750,000, and paid employment of up to fifty persons, Employee relationship, labour intensive operation, simple technology, fusion of ownership and management and limited access to capital.

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THE ROLE OF COMMERCIAL BANKS IN FINANCING SME IN NIGERIA A CASE STUDY OF FIRST BANK PLC

THE USE OF SUPPLY CHAIN MANAGEMENT IN MANUFACTURING ORGANISATION TO CONTROL INVENTORY LEVELS WHILE PROVIDING ADEQUATE SERVICE TO CUSTOMERS

THE USE OF SUPPLY CHAIN MANAGEMENT IN MANUFACTURING ORGANISATION TO CONTROL INVENTORY LEVELS WHILE PROVIDING ADEQUATE SERVICE TO CUSTOMERS; A CASE STUDY OF EASTWIND FOODS

INTRODUCTION
Supply-chain management and it encompasses all of those integrated activities that bring product to market and create satisfied customers. The Supply Chain Management Program integrates topics from manufacturing operations, purchasing, transportation, and physical distribution into a unified program. Successful supply chain management, then, coordinates and integrates all of these activities into a seamless process. It embraces and links all of the partners in the chain. In addition to the departments within the organization, these partners include vendors, carriers, third party companies, and information systems providers Within the organization, the supply chain refers to a wide range of functional areas. These include Supply Chain Management-related activities such as inbound and out bound transportation, warehousing, and inventory control. Sourcing, procurement, and supply management fall under the supply-chain umbrella, too. Forecasting, production planning and scheduling, order processing, and customer service all are part of the process as well. Importantly, it also embodies the information systems so necessary to monitor all of these activities. Simply stated, the supply chain encompasses all of those activities associated with moving goods from the raw-materials stage through to the end user.”
Advocates for this business process realized that significant productivity increases could only come from managing relationships, information, and material flow across enterprise borders. One of the best definitions of supply-chain management offered to date comes from Bernard J. (Bud) La Londe, professor emeritus of Supply Chain Management at Ohio State University. La Londe defines supply-chain management as follows: “The delivery of enhanced customer and economic value through synchronized management of the flow of physical goods and associated information from sourcing to consumption. “As the “from sourcing to consumption” part of our last definition suggests, though, achieving the real potential of supply-chain management requires integration not only of these entities within the organization, but also of the external partners. The latter include the suppliers, distributors, carriers, customers, and even the ultimate consumers. All are central players in what James E. Morehouse of A.T. Kearney calls the extended supply chain. “The goal of the extended enterprise is to do a better job of serving the ultimate consumer,”. Superior service, he continues, leads to increased market share. Increased share, in turn, brings with it competitive advantages such as lower warehousing and transportation costs, reduced inventory levels, less waste, and lower transaction costs.
The customer is the key to both quantifying and communicating the supply chain’s value, confirms Shrawan Singh, vice president of integrated supply-chain management at Xerox.
“If you can start measuring customer satisfaction associated with what a supply chain can do for a customer and also link customer satisfaction in terms of profit or revenue growth,” Singh explains, “then you can attach customer values to profit & loss and to the balance sheet.”
The best companies around the world are discovering a powerful new source of competitive advantage. It’s called supply-chain management and it encompasses all of those integrated activities that bring product to market and create satisfied customers.The Supply Chain Management Program integrates topics from manufacturing operations, purchasing, transportation, and physical distribution into a unified program. Successful supply chain management, then, coordinates and integrates all of these activities into a seamless process. It embraces and links all of the partners in the chain. In addition to the departments within the organization, these partners include vendors, carriers, third party companies, and information systems providers.

 

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THE USE OF SUPPLY CHAIN MANAGEMENT IN MANUFACTURING ORGANISATION TO CONTROL INVENTORY LEVELS WHILE PROVIDING ADEQUATE SERVICE TO CUSTOMERS; A CASE STUDY OF EASTWIND FOODS