AN ASSESSMENT OF FINANCIAL LIBERALIZATION AND ITS IMPACT ON STOCK MARKET
|BANKING AND FINANCE|
No of pages
|MS Word & PDF|
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The whole of this project work deals with the concept of total quality and corporate productivity in Banking Industry using Wma Bank Plc as Case Study.
Chapter one, dealt with the background of the study, which consists of the following:
The statement of the problem and formulation of research question deals with the problems of management concept, it passes some question that is relevant to the study such as.
1. Does total quality management boost the morale of workers.?
2. What is the level of quality management in Nigeria? V
3. What is the relationship between the total quality management and corporate productivity?
Chapter two, is concerned about the literature review in reviewing related literature on the research study, effort were made to critically examine all available literatures.
Quality tools used were also discussed. Authors view total quality management, as appositive concept that every organization must embrace also there is a pattern and framework in which this concept undergoes which enhance corporate productivity.
In related literatures reviewed, total quality management has a positive impact in a deregulated economy like Nigeria.
Chapter three, is on the research methodology, the research design used (survey design) characteristics of the study population were also identified
1.1 BACKGROUND OF THE STUDY
In time past, product was all about profit maximization. Producers of goods and services are profit oriented irrespective of consumer’s tastes. But now things have changed, the international business world of the last quarter of the twentieth century, focus change not only change but change which is taking place at an unprecedented rate.
The world is transforming from domestic nationally centered economic system to the global place.
The contemporary global market is closing in one big market due to the global end toward quality standardization.
Hence, the business organization is not isolated. It needs to be able to conduct their business worldwide.
Business future development, the result it can achieve and the constraints within which it operates are all function of the environment factor it.
It is often said that a business organization has to be efficient yet even the most efficient manufacturer will find himself in trouble in an industrialized society.
The ability to scan the environment to analysed and interpret event and to predict future trends is one of the most important ingredients of effective management.
It would be dangerous to approach the environment with the aim of the businessman intention to manipulate the environment in order to suit his private purpose.
Although there are environment such as government policies that can be influenced by industry leader or other organized groups.
The rate of technological change also depends on part on the allocation of resources by the private sector.
But for the most part the environment functions depend on the manager’s will.
Many programmes have been developed all in the name of boasting or to promote quality of their organization, so as to achieve organization productivity.
Nations and organization have joined the quality train they have come to acknowledge that quality is the most potent defense against competitors.
It ensures customers loyalty and allegiance and paves way for sustained growth and earnings.
Management practice in Nigeria to not has been encouraging most especially when Nigeria experienced an old boom in the early 70s to recession in 1980.
The adverse affect in the economic policy embarked upon by the government tagged, structural. Adjustment programmer SAP, has really constrained many industries in the country while surprising enough, some companies have been able to perfect their own success.
The evolvement of many modem management technologies by some scholars and management practitioners has really proved the quality of many managers of different organizations techniques such as management by objectives strategic planning, effective communication participative management delegation of responsibilities and authority has really come as an instrument for manager to achieve their result.
1.2 STATEMENT OF PROBLEM
There is no management concept or tool without its problem that may be encountered during the implementation of modern management, the problem statements are:
• What is the level of quality management in Nigeria?
• What is the relationship between total quality management and organization effectiveness.
The answer to these questions could be descriptive or empirical.
RC Parker (MD, Mobil Corporation Nigeria) Robert Desat Milt (University of Virginia) D. M. Jurman O’Neil (1990) provides facts. Described the relationship between total quality management, consumerism and organizational productivity.
Henry J. Nasella (president of staples Mc) says it does not take much brain power to figure out why customer don’t complain, they just decide to stop somewhere else” if they are not satisfied.
1.3 OBJECTIVE OF THE STUDY
We have seen from the recent past that most organizations run into problems, which could lead to the company being merged with or acquired by another company.
These companies could as well run bankrupt, have liquidity problems or worst still fold up.
Evidence shows that the main cause of this is the scarcity of resources to meet the organization objectives and also the inability to properly forecast and provide for the future.
With this project work, business administrator, managers and whoever is responsible for the running of an organization will be able to adequately study, forecast and provide for unforeseen contingencies which could pose threats to the effective functioning and existing organization alike.
Knowing the problems is solving part of it when managers are able to identify these problems and perspective and also provide for them, organization will be unaffected by total quality management but will rates adapt to them.
Administration as well as managers should prepared to face challenges, provide against these variables which all contents with the corporate existence of many organizations.