MANAGING CHANGE IN THE NIGERIA ECONOMIC ENVIRONMENT 2014/2016

 CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

Business is any commercial or economic activity that tends towards profit. The primary, objective of business organizations is to make profit, grow and survive in the environment in which it operates.

The environment in which business organizations operate is a complex, multi-focus dynamic and has a far reaching effect on such organization Aguilar and Osaze (2009). The environment tends, shape the outlook, and goal of the organization by placing constraints on them. These constraints in the changing environment of organizations could be in the form of government policies, competition etc. and this sets a limit on the goals specify by the organization if now well managed Mohamed, A.S. (2003). For instance, trade union asking for increase in salary, will affect the shareholder dividend.

In management, the word “Environment” does not necessarily mean physical surroundings, but is used to describe all those influences that bear upon the business organizations. Economic environment is used to mean anything, which surrounds the business organization. It affects the decisions, strategies, process and performance of the business. The changing economic environment is consisting of factors which are beyond the control of the business (STEP) social, technological, economical, legal and political. It provides opportunities or poses threats to the organization Oyebanji, J. (2000).

HUMAN RESOURCE MANAGEMENT AND PRODUCTIVITY IN NIGERIA PUBLIC SECTOR

CHAPTER ONE

INTRODUCTION

1.1  BACKGROUND TO THE STUDY

The development of any nation depends to a very large extent on the calibre, organization and motivation of its human resources. In the specific case of Nigeria where diversity exerts tremendous influence on politics and administration, the capacity to increase the benefits and reduce the costs of this diversity constitutes a human resource management challenge of epic proportion in its public sector organizations. Human Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. Human Resource Management can also be performed by line managers.

Human Resource Management is the organizational function that deals with issues related to people such as compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training. Human Resource Management is also a strategic and comprehensive approach to managing people and the workplace culture and environment. Effective HRM enables employees to contribute effectively and productively to the overall company direction and the accomplishment of the organization's goals and objectives. Human Resource Management is moving away from traditional personnel, administration, and transactional roles, which are increasingly outsourced. HRM is now expected to add value to the strategic utilization of employees and that employee programs impact the business in measurable ways. The new role of HRM involves strategic direction and HRM metrics and measurements to demonstrate.

HRM covers a wide range of activities. The main area of study we will focus on will be incentives and work organization. Incentives include remuneration systems (e.g. individuals or group incentive/contingent pay) and also the system of appraisal, promotion and career advancement. By work organization we mean the distribution of decision rights (autonomy/decentralization) between managers and workers, job design (e.g. flexibility of working, job rotation), team-working (e.g. who works with whom) and information provision.

Civil servants have a reputation for being lazy. However, people’s personal experiences with civil servants frequently run counter to this stereotype. We develop a model of an economy in which workers differ in laziness and in public service motivation, and characterise optimal incentive contracts for public sector workers under different informational assumptions. When civil servants. Effort is invariable, lazy workers and working in the public sector highly attractive and may crowd out dedicated workers. When effort is variable, the government optimally attracts dedicated workers as well as the economy’s laziest workers by offering separating contracts, which are both distorted. Even though contract distortions reduce aggregate welfare, a majority of society may be better off as public goods come at a lower cost.

CHAPTER TWO OF"INVESTIGATION INTO THE IMPORTANCE OF ETHICS AND ITS IMPLICATION ON BUSINESS ORGANIZATION (A CASE STUDY OF NICON INSURANCE CORPORATION) "

CHAPTER TWO

LITERATURE REVIEW AND THEORETICAL FRAMEWORK

                                                                                    

2.1   Introduction

This aspect of  the  study  examines  related literature on the subject matter - literature on ethics  will be reviewed. Also included is the concept of ethics and social responsibility in business organization, involvement of government in ethics and social responsibility, ethical responsibility of NICON Insurance, theoretical framework, theoretical bases,  review of empirical studies,  study gap and summary of review.

2.2    Concept of Ethics and Social Responsibility in Business Organization

According to Pearl and Hughes (2008), ethics is defined as acting to prevent a substantial harm to others when an individual or group has an opportunity to do so for their own benefit. Mc Antony (2004) postulated that moral standards deal with matters that we think can seriously injure or seriously benefit human beings. On his part, Kim (2007) asserts that moral judgments function to condemn human plans or activities that make life unbearable for others and morality functions to limit selfish actions that cause such harm. By definition, stakeholders represent the groups most subject to potential benefit or harm by business  Elango et al., (2010). For this study, stakeholders included employees, customers, other supply-chain  companies, stockholders (as a special group), and communities in which the company operates Nicholas, (2002).   The mission of ethics is to ameliorate the abusive use of power and reduce the negative impact of chance in the everyday lives of humans Kalshoven et al., (2011).  

DELEGATION OF AUTHORITY - CHAPTER TWO

CHAPTER TWO

LITERATURE REVIEW AND THEORETICAL FRAMEWORK

2.1   Introduction

This chapter discusses concepts, past studies, and various literatures related to delegation of authority.  This review is subdivided into;

Concept of delegation and authority, relevance of delegation in the Nigeria public service, challenges of  effective delegation in the Nigeria public service, theoretical framework, theoretical bases, review of empirical studies, study gap and summary of the review.

2.2   The Concept of Delegation and Authority

A manager alone cannot perform all the tasks assigned to him. In order to meet the targets, the manager or executive has to delegate authority. Delegation of Authority means division of authority and powers downwards to the subordinate Ali, Lukeman (2001).  Delegation is about entrusting someone else to do parts of your job. Delegation of authority can be defined as subdivision and sub-allocation of powers to the subordinates in order to achieve effective results Abdul Salam (2003).

DELEGATION OF AUTHORITY AS A MANAGEMENT STRATEGY FOR EFFECTIVE PERFORMANCE IN NIGERIA PUBLIC SECTOR

CHAPTER ONE

INTRODUCTION

1.1  Background  to the Study

Delegation of authority is one of modern trends practiced by managers and executives in both private and public sector in Nigeria.  Its function stands out contributing and increasing the level of motivation of employees and achieving positive returns for an organization Abdul Salam (2003).  On the level of an organization, it achieves competitive advantage, knowledge inventory, increases the level of productivity and speed in finalizing tasks effectively.   It alleviates functional burdens, gains employees' satisfaction and builds cooperation and trust between manger and employees giving a chance for manager to have full-time for realization more important work Alazailh, Muhammad Ali (2009).  So, it reduces physical and intellectual efforts exerted by manager and other employees in the public or private sectors.

Delegation of authority becomes inevitable issue for every organization whether in public or private sector. It is not optional due to many reasons that has connected and brought developments and changes to the organizations including that of (increasing its size and diversity of its products, multiplicity of its products and spread of its branches in different geographical zones and different local, regional and international levels Alaba Bodurin (2011).

INVESTIGATION INTO THE IMPORTANCE OF ETHICS AND ITS IMPLICATION ON BUSINESS ORGANIZATION (A CASE STUDY OF NICON INSURANCE CORPORATION)

CHAPTER ONE

INTRODUCTION

1.1    Background to the Study

Ethics and social responsibilities of a business and their organization have been extremely important to every society and Nigeria at large. Every society makes sure that those who engage in any form of business should engage in good morals in their daily activities Koonmee et al., (2010).  Ethics and social responsibilities are related concepts that pay special attention on moral conscience of business. The idea of ethical responsibilities has to do with those issues and problems that concerns people in business and their faithfulness to their organization and to their customers as well Carlson et al., (2011).

An ethical business organizaiton would help establish an efficient and effective economic system Johnson, K.W. (2004). A system that produces the opportunity for greater economic welfare is very important in facilitating a well-structured, happy life for the citizens of that society.  However, since few human social systems work perfectly, the importance of business ethics has also aimed to minimize the abuse of the ‘‘imperfect’’ economic system, while still attempting to maintain the creativity, efficiency, and effectiveness of that same system Kotler, N.L. (2008).

According to Dr.  Bello A., (2009), in his book titled Marketing Principles and Management, 2^nd Edition, he opined that Ethics can be analyzed in several different frames of reference-level of moral agency may vary as what may be ethical in one business organization may be unethical in the other. 

He stressed further, that we are most accustomed to thinking about ethics interpersonal terms, for example, disclosure obligations of sales representatives to client or customers.  Many ethical issues are organizational in nature, for example, the policies of corporations or government agencies that directly or indirectly may influence actions or their consequences. 

WORKING CAPITAL MANAGEMENT AS A TOOL FOR COST MINIMIZATION AND PROFIT MAXIMIZATION (A CASE STUDY OF ANAMBRA MOTOR MANUFACTURING COMPANY ENUGU).

CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND OF THE STUDY

Capital can be classified into two broad categories based on tenure viz. long term and short term capital. The long term capital of firms is committed to investment in fixed assets. It includes shareholders. On the other hand, short term capital is applied for investment in current assets such as cash, marketable securities and short- term credits. Current assets are usually acquired very often in varying quantities depending on the demand structure for the firm’s product Pondy, M.I. (2004). Each time a decision to acquire current assets is taken, finance becomes inevitable.

However, it does not necessarily mean that cash has to be paid each time an order for recurrent production input is placed, rather it implies that just like in the case of fixed assets, every decision on current assets has financial implications. For instance, a firm has to decide how much of the material used for production of goods and services are to be on credit or on cash and carry basis.  It also has to determine what proportion of its sale has to be on credit Retort, J.V (2003). Also both the optimum and minimum stock levels for raw materials and work-in-progress (WIP) have to be determined and maintained at a given point in time.