TOTAL QUALITY MANAGEMENT: THE EFFECTS OF TOTAL QUALITY MANAGEMENT ON PRODUCTIVITY USING THE PROBIT MODEL
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TOTAL QUALITY MANAGEMENT: THE EFFECTS
OF TOTAL QUALITY MANAGEMENT ON PRODUCTIVITY USING THE PROBIT MODEL
ABSTRACT
The broad
objective of this research work is to take a critical look at the principle of
total quality management so as to find out how its implementation will affect
an organisation‟s productivity and profitability. For the purpose of this
study, the researcher limited its data to those of the Skye Bank Plc and her
customers. The researcher used survey method to investigate the effects of
Total Quality Management on productivity using the probit model: a case study
of Skye Bank Plc Edo State.
CHAPTER ONE
INTRODUCTION
1.1 HISTORICAL BACKGROUND AND THE ORIGIN OF SKYE BANK PLC
Banking in
Nigeria took a new dimension after the pronouncement of the former governor of
the Central Bank of Nigeria professor Charles Soludo for the need to improve
the banking industry in Nigeria thereby competing with other foreign banks,
hence capital base to 25 billion naira.
According to
the governor of central bank professor Charles Soludo, the whole idea of the
increment is to give room for other small financial institutions to strive,
thereby reducing the rate of competition amongst banks in Nigeria.
For the
purpose of this study, Skye Bank PLC came together as an entity after due
diligence was carried out amongst their five banks.
Prudent Bank
EIB Eko
International Bank
Reliance
Bank
Bond Bank
Cooperative
Bank Ltd
Currently,
the bank has a significant network spread across the nation over 200 branches
and also planning to spread across West African countries, turn up before the
end of 2007, it major of business is centered round services, hence service
delivery is term of Skye Bank or the hallmark as it term.
As a new
generation bank, Skye Bank Plc is online real that is to say every customer can
access his/her account from any of location whether it is savings or current account.
It is worthy to know that the bank is highly aggressive in expanding its
numerous clientele world, that is to say that the satisfaction derived by the
customers is a key.
As a
strategy to preposition the industry in order to offer high quality products,
CBN embarked upon a process of scrutinizing products offered by banks.
Quality
management of products in a post consolidation era been brought to front
banner. In order to contribute to this debate, TQM (total quality management)
as a policy for assessing and regulating service delivery process became a very
important instrument in this regard.
At the heart
of the survival of any bank the satisfaction of the clients is most important,
the clients/customers are only satisfied when their demands are being met at
the right cost and to the right quality. Ironically, it only when the customers
are satisfied that the bank in question can be seen as performing it as a new
generation bank.
One
particular approach to improve organizational performance and effectiveness is
the concept of the Japanese-inspired Total Quality Management. This is a set of
management practices throughout the organization, geared to ensure the
organization consistently meets or exceeds customer requirements. TQM places
strong focus on process measurement.
The
successful organization should as a matter of policy be constantly seeking
opportunities to improve the quality of its products or services and processes;
the bank must also couple quality with a required level of productivity. TQM
represents a total system and as such increasingly enhances quality circles as
a broader means of addressing the demand for quality.
Total
Quality Management is a method by which management and employees can become
involved in the continuous improvements of their products and services. It is a
combination of quality and management tools aimed at increasing profit and
reducing losses due to wasteful practice.
This
research work stems from the need to evaluate the cost of quality vis-à-vis its
benefits in terms of increased productivity of any organization, a lot of banks
pay lip service to quality simply because they do not realize the benefit such
investment of time, effort and money will bring to their banking system other
are skeptical on whether or not there is any real benefit at all.
It was the
need to clear all these and show through a detail and systematic study of how a
popular quality philosophy such as TQM will affect the performance of Skye Bank
PLC that forms that background for the study.
1.2
STATEMENT OF THE PROBLEM
The central
focus of gravity organization is customer satisfaction and improved
performance. Quality focus seeks to institutionalize planned and continuous
improvement so as to ensure that quality is the outcome of all activities that
takes place within an organization; that all functions and all employees have
to participate in the improvement process; that organization need both quality
culture and management effectiveness of this approach in making small but
steady improvements. But users and critics of Total Quality Management
universally agree that that approach takes too long to do, many abandon the
approach with frustration because it takes too long.
If we were
to break a Total Quality Management efforts into its components, it takes more
time, very little go into problem solving.
Perhaps, we
should spend more time on identifying the right problem. After all, solving the
wrong problem is a complete waste of time, in this section we shall strictly
discuss the basic problems encountered in TQM implementation which was
addressed by this research work.
One nagging
and ever present problem with Total Quality Management is meetings and more
meetings; lots of time goes into meetings. Thus anything that will make
meetings effective will reduce the amount of time spent on the Total Quality
Management and then makes it worth the while.
Another
problem with Total Quality Management implementation is the fact that a great
deal of time is spent on charting a process. Steam members debate how the
current process works. In essence, by describing the process, teams set the
stage for how the process could be changed. Description of the process creates
the mind set and frame within which solutions would be sought.
Discovering
ways to radically reduce the time it takes to do a process charts will go a
long way in helping to solve the problem.
Still
another problem is that and effort is spent in data collection, once an
improvement is made we need to collect data to verify that indeed real
improvement have been made. This phase takes considerable amount of time, as
designed surveys distributed, retrieved and analyzed, several months to a few
years may be spent on data collection. Again effort need to be put on
strategies to reduce the amount of time and effort spent on this area.
1.3
OBJECTIVES OF THE STUDY
The broad
objectives of this research work are to take a critical look at the principle
of Total Quality Management so as to find out how its implementation will
affect an organization performance. The specific is to investigate the
following:
The
relationship between Total Quality Management variables and the bank productivity.
The
relationship between Total Quality Management variables and the bank
profitability.
1.4 RESEARCH
QUESTIONS
The
questions related to this work are:
Does the
implementation of Total Quality Management (TQM) have any effect on the
performance of the bank?
What kind of
effect does Total Quality Management (TQM) has on the performance of the bank
and
To what
extent does Total Quality Management (TQM) implementation affect performance?
1.5
HYPOTHESES OF THE STUDY
To identify
the achievements of the desired objectives, the following hypotheses are
formulated:
H0:
Represents Null Hypotheses
H1:
Represents Alternate Hypotheses
HYPOTHESES I
H0: Total
quality management variables will have negative influence on banks
productivity.
H1: Total
quality management variables will have great influence on banks productivity.
HYPOTHESES
II
H0: Total
quality management variables will have negative influence on banks
profitability.
H1: Total
quality management variables will have a great influence on banks
profitability.
1.6
SIGNIFICANCE OF THE STUDY
Looking at
the volume of investment required to execute a formidable quality instrument
such as TQM in bank, one would agree that it is important to be able to
convince ourselves that such investment would yield some gains for the bank
before embarking on such a project.
Thus to say
that this study is justified is merely repeating the obvious as without a study
like this it might be difficult to get the support of quality advocators and
sympathy of other members of the organization.
Apart from
this management, we will also not be able to measure the benefit derivable from
their huge investment in implementing quality programmes such as TQM. A study
like TQM will therefore provide a guide towards evaluating the gains of
implementing a quality program both for organisations who has done that and
those that are still in the process.
In summary,
the following listed points could be considered as justification for a study
just as this:
It provides
an opportunity to critically evaluate every quality program in line of what
benefit it will yield.
It provides
a good basis for the justification of proposed quality program for the
advocators of such program.
It shows
vividly what organization stand to gain or lose it implementing quality
programs such as TQM.
Finally it
exposes organization and other readers to the rudiments of Total Quality
Management philosophy.
1.7 THE
SCOPE OF THE STUDY
This
research work covers the performance of Skye Bank Plc. in the years before and
after the implementation of Total Quality Management in the organization.
It is a
study designed to compare the implementation of the Total Quality Management
principles in Skye Bank Plc. with the performance of the banks using turn over
and profitability as a measurement yard-stick for the banks performance.
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