CREDIT CONTROL MANAGEMENT AS A TOOL FOR BUSINESS ORGANIZATION GROWTH AND SURVIVAL (A CASE STUDY OF NIGERIA BOTTLING COMPANY PLC)
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CREDIT CONTROL
MANAGEMENT AS A TOOL FOR BUSINESS ORGANIZATION GROWTH AND SURVIVAL (A CASE
STUDY OF NIGERIA BOTTLING COMPANY PLC)
ABSTRACT
This research work was investigating the effect of cooperate
restructuring on employees in an organization using Nigerian Breweries as a
case study. The study focuses on the corporate activities in human resources as
a critical factor in terms of strategy put in place to maintain their
organization position by ensuring their survival in the emerging economic
integration. The researcher made use of personal interview and questionnaire
and observation in the collection of primary data and information needed for
the research work. The method of study referred to some of the workers of
Nigerian Breweries Plc. This consisted of a combination of staff with different
educational qualifications. In this study, the major sampling and statistical
tool employed for data analysis were the use of percentages, tables and chi -
square (X2). The percentages is used to analyze data elicited from selected
respondents. In the same vein, the Chi -square (X2) was used to test the
hypothesis formulated. The main aim of this research is to explore, assess and
evaluate the effective or impart of corporate restructuring on employees in
organizations. The research has also drawn up some recommendations on the
issues with cooperate restructuring in organizations.
TABLE OF CONTENTS
PAGE
Title
i
Certification
ii
Dedication
iii
Acknowledgement
iv
Abstract
v
Table of contents
vi
CHAPTER ONE
GENERAL INTRODUCTION
1
1.1 Background
to the Study 1
1.2 Statement of
the Problem
4
1.3 Purpose of
the Study 4
1.4 Objectives
of the Study
5
1.5 Justification
of the Study
5
1.6 Relevance of
Study
6
1.7 Research
Questions 7
1.8 Research
Hypothesis
7
1.9 Scope and
Limitation of The study 7
CHAPTER TWO
REVIEW OF RELATED LITERATURE
9
2.1
Introduction
9
2.2 Business
Organization as a Concept
10
2.3 Organizational
Control
11
2.4 Concept of
Restructuring
13
2.5 Organizational
Change and Management
15
2.6 Corporate
Restructuring
19
2.7 Human Resources
or Human Relations
23
2.8 Human Resources
Management
25
2.9 Assuring
Restructuring Objectives
29
CHAPTER THREE
RESEARCH DESIGN METHOD AND METHOD OF STUDY
32
3.0
Introduction
32
3.1 Population of
the Study
32
3.2 Sample
Population
33
3.3 Sample
Size
34
3.4 Sampling
Tool
34
3.5 Research
Instruments
35
3.6 Methods of
Data Collection
36
3.7 Limitations of
Study
36
CHAPTER FOUR
DATA ANALYSIS AND PRESENTATION
37
4.1
Introduction
37
4.2 Demographic
Characteristics of the Sample 37
CHAPTER FIVE
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS 57
5.1 Summary
57
5.2
Conclusions
60
5.3
Recommendations
61
5.4 Suggestion for
Further Studies
62
REFERENCES 64
APPENDIX
67
CHAPTER ONE
GENERALINTRODUCTION
1.1 Background to
the Study
The sources of changes are diverse, well known and, most
times, irreversible. They include technological innovation, deregulation, and
inauguration of the computer information age, changed consumer demands,
globalization, and the rush toward democratization, among others. These changes
are impacting seriously on the environment of business. Yet it looks as if the
coast is not clear, as these changes are most likely to stretch into the next
millennium and beyond long as the indices keep swinging.
In the economic sphere, Nigeria has been swimming in economic
recession in the past two decades or more. It is not that economic recession is
a recent phenomenon. In fact, Fajana and Osigweh (1993) did record that the
world had passed through many phases of recession, beginning in the 1920s. But
the economic recession in Nigeria is a reflection that the economy is fully
plugged into the international economic system, which has also been
characterized by deep economic changes.
Responses to the economic changes in Nigeria have been varied
with various Nigerian governments applying different measures, many of which
are short-term and clearly depicting the understanding and character of those
administrations.
However, the most long- term and comprehensive of this
economic measure was the Structural Adjustment Programme, SAP, introduced in
1986 by the Babangida administration. SAP was designed to restructure Nigeria's
economic and also promoting viability in fiscal and balance of payment
policies. The success or otherwise of SAP is not the primary concern of this
study.
The responses of businesses to economic, political,
technological and social changes have been as varied as those of government.
They have regularly altered their management strategies to be able to adapt to
realities in their task environment. Such strategies range between long-term
contracts, joint ventures, mergers, downsizing acquisitions, etc.
What the rapidity of change has done to business is that it
has made business leader and managers to think of more effective methods of
planning and implementing changes that are necessary for the growth and
survival of their organizations. This is because, duringthe past couple of the
years in which changes have occurred rapidly, many managers have found to their
chagrin that the rules have changed; traditional methods of building businesses
have failed to work as planned. Also, many well-designed career path has turned
into a dead end.
The unavoidable consequence of this is the need to
restructure corporately so that their companies can regain competitiveness.
Corporate restructuring obviously demands skills, creativity, decisiveness and
.pourage. In adopting and applying any of the doses of restructuring, alternatives
re-capitalization, divestitures, and acquisitions each of which they're own
primary assumption.
Core area of any businesses usually consider restructuring or
responding to changes in the task environment its human resources utilization
and management is borne out of the fact that the human factor plays a critical
role in the success or otherwise of any organization. Peter Drucker (1974)
recognized this when he said that building a new structure or organization
requires three-difference kind of work:
1. The
operating task, which is responsible for producing the results of today's
business.
2. The
innovative tasks, which creates the company's tomorrow; and
3. The top
management task, which gives vision, directs and sets the course for the
business of both today and tomorrow.
According to Gail Pollano et al, (2000), since obtaining
competitive advantage through corporate restructuring represents a major
concern of business managers, human resources rules cannot be underscored.
Besides, competitive advantage distinguishes one firm from another, provides
positive economic benefits and, according to Pfeiffer (1994) cannot be readily
duplicated. Thus, business have discovered that although at a huge cost,
traditional sources of success, product and process technology, protected or
regulated markets. Access to financial resources and economies of scale, no
longer provide much competitive leverage as in the past. Instead, organizations
culture and capabilities, which are derived from how people are managed, is
proving to be a more vital factor in corporate survival.
Thus, recruiting, utilizing human resources, as a success
factors in corporate restructuring is now a major challenge in today's
competitive market place. This is simple because today's employees are
"new breeds" with different values, inspirational needs and
motivation from his predecessor. Also, he is better educated being the produced
being the product of the knowledge expansion, more aware politically, socially
and economically and therefore, more demanding and less easily managed by
traditional controls of allthese, utilizing an organizations skilled human
resources as a driving force in business strategy is also a major challenge.
For instance, many organizations that have gone through restructuring or turn
around, aimed at increasing their competitiveness and ensuring adaptability in
order to avoid the fate of the legendary dinosaur, in the past few years have
done so with their people (human resources).
This fact is clearly buttressed by the existence of a body of
research, which stress that human resources management policies are not only
action producing but also affect the implementation of business- strategies.
John Butler (1988) studies various human resources management options and
pointed out how a successful combination of human resources options facilities the
exploitation of market opportunities.
1.2 Statement of the
Problem
While strategic management is being applied in liberal doses
in business organizations in such areas as productivity improvement and
balancing of business portfolios, the strategic possibilities in human
resources management are frequently ignored. Apparently, they should not be.
The result of ignoring the potentials of human resources are employee turnover,
sudden hostility, strikes, decreased output, low morale, etc, and the business
is worse for it.
1.3 Purpose of the
Study
The approaches emerging today is to use growing ideas of
management techniques to solve problems facing organizations and which also
arises as a result of the dynamics and competitiveness to today's turbulent
business climate.
The purpose of the study is focused on today's business
environment, the change forces and restructuring alternatives, hi view of this,
the purpose of this study is in analytical approach to the strategic employed
by organization to ensure their continuing survival in the emerging world
market that promises survival only to the fittest.
1.4 Objectives of
the Study
The main aim of this research is to explore, assess and
evaluate the effective or impart of corporate restructuring on employees in
organizations.
To achieve the above aims, the following objectives are
evolved.
a. To
identify the methods and processes involved in the corporate restructuring,
b. To examine
of the attitude and perception of employees toward the restructuringprocess,
c. To assess of
how the employees view the methods and procedure of the corporaterestructuring
in organization.
1.5 Justification
of the Study
The business world today is turning up many challenges and
opportunities, these could either be internal or external to a business,
redefining business practices and the way people view businesses. As a result
of the pervasive forces of change, drive toward quality, increasing government
regulations, environmentalism, democratization, etc, businesses are today more
volatile than ever before. And yet, the lucrativeness and attractiveness, which
businesses hold for individual and corporate investors, have not made them
totally unable to adjust to change forces in their environment (Gail Pollano et
al, 2000)..
While business firms continue to seek a maximization of their
profit in a changing and dynamic task environment, they have also not
underscored the relevance of human resources as a critical success factor for
survival in a turbulent business climate. Consequently, the prudent management
of both their human and material resources, also requires an equally
corresponding efforts to manage the human resources that is a critical factor
if the company goals of a business are to be realized in consonance with the
foregoing, it becomes extremely imperative for business managers to appreciate
the congruency that is involved in the management of funds. Provision of goods
and services and the maintenance of human resources, so that none of the
necessary resources serves as a hindrance to the other in the course of
business operation.
Furthermore, today there is a growing realization that the
human factor is a very critical factor in the success of a business
organization, particularly competitivenessin a competitive market. To this end,
business are not only spending an ever-increasing amount of money to select,
train, retrain and retain their skilled personnel, they now regard personnel as
business assets and, therefore, put them on their balance sheet.
1.6 Relevance
of Study
The study is considered significant because its findings will
provide useful ideas on the effect of corporate restructuring on employees in
organizations. The findings will also reveal the extents and constraints in
successful corporate restructuring in organizations, with a view to making
adjustments where necessary to achieve a more effective of corporate
restructuring on employees in organizations. The findings may also; serve as
useful source of data for future researchers in this field of study.
1.7 Research
Questions
The following research questions are raised in the study.
1. Is there any
factor which determines if restructuring is necessary for employees'
productivity?
2. How can
restructuring be used positively to influence employees' productivity in an
organization?
3. Is there is
a correlation between the survival of a company and the restructuring pattern?
4. Is there a
correlation between employees' productivity and the organization survival?
1.8 Research
Hypothesis
Hypothesis 1
H1: Restructuring
is a means of improving employees' productivityand organization's survival.
Ho: Restructuring
is not a means of improving employee's productivity and Organization's
survival.
Hypothesis 2
H1: The
survival of a company in the new millennium depends on its responsiveness to
the challenges of the time.
Ho: The
survival of-a company in the new millennium does not depend on its
responsiveness to the challenges of the time.
1.9 Scope and
Limitation of The study
This study shall concentrate on the corporate activities
focusing on human resources as a critical factor in terms of strategy put in
place to maintain their organization position by ensuring their survival in the
emerging economic integration. However, the study may be limited by possible
low response rate.
1. Limited
literature, since much has not been written on the challenges of new millennium
in terms of restructuring.
2.
Financial resources and time.
3. The employment
of questionnaires as a method of gathering information from the respondents is
somewhat tasking as they are prone to treating such enquiries unserious, thus
resulting in the delay in filling them on time for processing of the
information got.
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