MARKET PENETRATION STRATEGY AS A MEANS OF ENTERING THE NIGERIAN TELECOMMUNICATION A STUDY OF MTN

MARKET PENETRATION STRATEGY AS A MEANS OF ENTERING THE NIGERIAN TELECOMMUNICATION A STUDY OF MOBILE TELECOMMUNICATION NETWORK (MTN)

Abstract

The research work examined Market Penetration Strategies as Means of Entering the Nigerian telecommunication Market, a study of MTN Nigeria.

The study is designed to examine more critically issues where the business formulate its growth strategy, by focusing on selling existing product into existing market and the various objectives it seeks to achieve. The objectives range from securing dominance of growth markets, restructuring markets by driving out competitors through aggressive promotional campaign, pricing strategy and the introduction of loyalty schemes to increase customer usage/patronage.

The chapter one forms the introductory aspect of the project work. The study also reviews the various works of different writers on the subject matter. In the course of the research, various instruments were employed in collecting both primary and secondary data. Data collected were analyzed by the use of tables, simple percentages and chi-square. Data were subject to rigorous analysis in other to determine the research hypothesis objectives.

The last chapter contains the Summary, Conclusion and Recommendations. Overall study aims to show how the company should maintain or increase market share of current products, by a combination of competitive pricing strategy i.e. Penetration pricing, advertising, sales promotion and personal selling.

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Impact Of Accounting Concepts And Convention On Financial Report

Impact Of Accounting Concepts And Convention On Financial Report ( A Case Study Of Nigeria Breweries)

ABSTRACT

The research work “Impact Of Accounting Concepts And Convention On Financial Report ( A Case Study Of Nigeria Breweries”, basically aims at ascertaining how financial accounting reporting has helped in advancing the objectives of corporate organizations. In the process, it investigated the effected that financial accounting bear on the performance of a business. Furthermore, if sought to ascertain the compliance of relevant statues by corporate organizations and the overall satisfaction of stakeholders in a corporate organizations. The study obtained its data basically from primary and secondary sources. The primary sources of data collection employed were questionnaire, oral interview and observations, while the secondary sources of data included textbooks, journals. in the analysis of the data collected, the chi-square was used to analyze the responses gathered. The study revealed that a loot of problems were inherent in financial reporting ranging from non-disclosure of vital information, subjective judgments of prepares of the financial information and most times non-compliance to relevant statues. There were recommendations given such as strict compliance to the relevant statute were made to the companies, the government needs to strengthen its regulatory agencies in order to ensure that the financial statements show a “true and fair view and comply with the relevant statues at all times.

CHAPTER ONE INTRODUCTION

 

Background of the Study

 

The impact of financial reporting on the corporate performance of a business organization is becoming more apparent to user groups of a financial statement.

Accounting is a not an exact science neither are business operations without some subjective and judgmental errors when it comes to reporting them. A financial reporting therefore is a document statement which informs the various interest groups to a business on the operations and performance of their business in a period under review its present state of affairs as well as its anticipated future, in accordance with the statutes. If a financial report is to service its purpose it ought to be characterized by the following.

  1. Relevance

 

  1. Understandability

 

  1. Reliability

 

  1. Completeness

 

  1. Objectivity

 

  1. Timeliness

 

In the accounting process of an organization is to provide the information required to prepare a financial report which shall have the above characteristics then the transaction doing the period must be recorded prompt by and accurately and interpreted in conformity with the Generally Accepted Accounting Principles (GAAP), Statements of Accounting Standard Board (NASB), International Accounting Standard committee and the companies and Allied Matters Act cop LFN (CAMA)

Financial accounting reporting become necessary with the obvious need for accountability of stewardship from the managers to whom investors entrusted their financial resources. The Railway age in the UK. Occurred between 1830 to 1870 and for the first time the world same the emergence of multimillion corporations with large numbers of shareholders. It was a period of disorder but it brought the basis for the present day system of corporate financial report. Financial reporting is a duty of stewardship assigned to the directors of a company by section 334 of the company and Allied Matters Act Cap L20 LFN, equally the mandatory responsibility of companies to keep accounting records derives its strength from section 331 and 382 of the same act. These sections explicitly defined the necessary content and manner in which financial records should be kept.

 

STATEMENT OF THE PROBLEM

 

The study “Impact Of Accounting Concepts And Convention On Financial Report ( A Case Study Of Nigeria Breweries” aims at investigating the financial reports of selected companies in Enugu State with a view to determine the following ;

  1. The extent to which a standard financial report contributes to or detracts from the growth of a business
  2. The extent to which the financial reports of corporate business organization comply with statutory
  3. The uniformity and conflict which exist in the financial reporting regulations given the multiplicity of

Therefore, bused on the above statements, the researcher shall investigate the financial accounting reporting standards and every regulation their bear on the financial statement and to the extent the selected company (s) has either complied with or disobeyed the relevant statutes.

OBJECTIVES OF THE STUDY

The objectives of this study are to critically examine the financial reports of the selected company and to probe into the fundamental for their preparation as well as its presentation with a view to determining:

  1. The adequacy of the basis and the fundamental that guides its preparation.
  2. The degree to which the financial report meets the needs of its various users.
  3. The extent to which the financial report conform to the established standard.
  4. The influence that financial report has on business

 

  1. Finally, to present suggestions and recommendations based on my findings.

RESEARCH QUESTIONS

 

In order to determine the impact of financial reporting on the corporate performance of business organizations, it is pertinent to test the following question;

  1. Does the information disclosed in the financial statements adequate to support good decision making?
  2. Does the disclosure requirement of the statutes affect corporate performance positively or negatively?

 

  1. Do companies comply strictly with the regulation?

 

  1. Does the financial report meet the needs of the various users?

 

This study will offer solutions to ones raised it is my believe that the result of these finding will go a long why to helping researchers in this area of study, it will also enhance the understanding of the structure of published reports and accounts by the users.

The various users groups of the published financial report have their benefits from this study as follows:

  1. The Potential Investors: These are groups who are interested in committing their financial resources to the buying of the company’s shares. These set of people will benefit from this study as the result of this study still arm them with the necessary tools with which to evaluate the financial report of a corporate organization as it affects them.
  2. The General Public: This group shall benefit from this report by the knowledge that the business organization exists for them and not against them, as such has to live up to its full
  3. The Regulators of Financial Accounting Report: This group includes the Nigerian Accounting Standard Board (NASB), the companies and Allied Matters Act 2004 Cap (20 LFN (CAMA) the

 

Banking and Other Financial Institutions Act of 1991 (BOFIA), prudential guidelines for licensed Banks. The Insurance Act 2003. The study will help them to standardize and harmonize their operations.

  1. The Employee Group Including Existing: Potential and past employees.
  2. The Government Including Tax Authorities Department who have Interest in the Financial Reports of Companies: The result of this work shall be of immense assistance to each to these user groups in the advancement of their

RESEARCH HYPOTHESES

 

The following null and alternative hypothesis shall be tested in this research works:

  1. H0: The   information   provided   in   financial   statements   is   not adequate to support good decision

Hi:     The   information   provided   in   financial   statements   is   not adequate to support good decision making.

  1. H0: The   disclosure  requirements  of   statements  do   not   affect corporate performance

 

Hi:     The   disclosure  requirements  of   statements  do   not   affect corporate performance positively.

  1. H0: corporate organizations do not comply strictly to the statutory regulations.

Hi: corporate organizations do not comply strictly to the statutory regulations.

  1. H0: Financial reports do not meet the needs of the various users of financial

Hi: financial reports do not meet the needs of the various users of financial information.

SIGNIFICANCE OF THE STUDY

 

This study is a very important one and most significant at this period of economic situation which has witnessed the collapse of giant corporate with impressive profit and loss accounts and balance sheet statement, because the financial report serves is a “prima facie” evidence on the state of attains of such companies as well as its performance and could be relied upon as a certificate because it had the auditors certification, financial reporting could be done with every ser business, utmost good faith and diligence.

SCOPE OF THE STUDY

 

This study could have covered the impact of financial accounting reporting on corporate performance of all the sectors of the Nigerian economy but due to the challenges of such a task especially the financial resources with which to execute it, it is limited to braving industry. The study used the Nigerian Breweries plc, Enugu.

LIMITATIONS OF THE STUDY

 

The limitations encountered by the researcher of this work are given as follows:

  1. The confidential nature of financial accounting information in the business organization posed as a problem to this business organization posed as a problem to this
  2. The researcher was unable to reach all the members of the sample as a result of their frequent travels and busy
  3. The sample used in the research though representative but it is relatively small compared to the population, as a result of lack of financial with which to carry out the research on a greater

 

 

DEFINITION OF TERMS

 

Auditor: a person who is qualified to examine the accounts of an organization to see that they are in order.

 

Balance Sheet: a business as at a specified date.

 

Bank: a financial institution whose responsibilities among others is to keep deposits for their client and customers.

Government: an institution of the state whose responsibility is to maintain law and order in the society.

Prima facie: sufficient to establish something legally until disprove later.

 

Researcher: an enquiring basically concerned with search knowledge.

 

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IMPACT OF CORPORATE POLICY AND STRATEGIC PLANNING ON THE PERFORMANCE OF NIGERIAN COMMERCIAL BANKS

 

ABSTRACT

IMPACT OF CORPORATE POLICY AND STRATEGIC PLANNING ON THE PERFORMANCE OF NIGERIAN COMMERCIAL BANKS

The research is on “ Impact of Corporate Policy and Strategic Planning on the Performance of Nigerian Commercial Banks”.  The objectives of the study are, to determine the impact of corporate policy and strategic planning on goal attainment, find out if there are relationships between bank failure and corporate policy and strategic planning, find out if corporate policy and strategic planning check waste of resources, see if information technology supports corporate policy and strategic planning, determine if strategies  such as mergers, acquisitions, aggressive marketing, listing with the stock exchange and others  facilitated the recapitalization of commercial banks between 2004/2005, determine if information technology supports corporate policy and strategic planning and to find out if strategic planning in commercial banks could lead to economic growth and stability in the Nigerian commercial banks. This study employed the descriptive research design. Stratified random sampling method was used in the study. The commercial banks selected for the study included the First Bank of  Nigeria Plc., Union Bank of Nigeria Plc., Intercontinental Bank Plc., now a subsidiary of Access Bank Plc., and Afribank recently nationalized and renamed Mainstreet Bank Plc. From a population of 25200, a sample size of 392 was determined using Yamene’s formula, which was considered adequate for the study. The principal instrument for collection of primary data was the questionnaire. Secondary data were sourced from journals, books, newspapers and magazines. The questionnaire was structured in five point Likert scale. A content validity approach was adopted. The split half method was used for the reliability test. The result gave a reliability co-efficient of 0.91 which indicated a high degree of consistency.  Data collected were presented in tables using frequency and percentages. Pearson’s product moment correlation co-efficient and Chi-Square were used for hypotheses testing. Findings indicate that corporate policy making and strategic planning made impact on the achievement of organizational goals and objectives. Corporate policy and strategic planning had relationship with bank failure  Corporate policy and strategic planning helped to check waste of resources. Implemented strategies by commercial banks facilitated the recapitalization as revealed in the result. Information Technology supported corporate policy making and strategic planning. Corporate policy and strategic planning could lead to economic growth and stability within the Nigerian commercial Banks. The research made the following recommendations; Top management of commercial banks should embark on corporate policy and strategic planning to ensure that goals and objectives are achieved. Commercial banks should establish corporate policies and plan strategically to avoid failure. Field managers should avoid waste of resources to minimize operational cost. Nigerian Commercial banks should embark on different types of strategies as need arises. Commercial banks should take advantage of information technology to improve services.Download Full Material-N5000

Workplace Communication Modes And Employee Engagement In The Fast Food Restaurant Sector In Bayelsa

CHAPTER 1

INTRODUCTION

Globalization and International representation requires more dynamic workplace communication for employee performance(Quirke 2012; Gibson et al. 2012).Consequently, competition, competitive advantage and strategic communication steps should be taken by organisations to ensure organizational guiding principles, goals or objectives are well communicated to enhance healthy work place (Argenti 2007). The utmost importance therefore is recognising how communication improves organizational performance and international effectiveness (Thompson 2011; Kaufmann, Englezou and Garcia-Gallego 2014). There is no limit to the importance of workplace communication when well harnessed, yet there are challenging factors to its potency, such as, but not limited to prejudgement, organizational culture, stereotypes, hierarchy and control (Morgan, Gregory and Roach 1997;Wheatley and Keller-Rogers 1996).

Arguably, limited existing literatures on the subject topic demands attentionand the HR manager can harness its possible potency to the extent of delivering effective communication (Turner 2003; Wadman 2006). To this end, the researcher attempts an exploration study on the impact of effective workplace communication and feedbackas a major influence to business success(Donaldson and Eyre 2000;Turner 2003;Holtz 2004). Although, as an ongoing scholarly debate,communication becomes susceptible to usual generalizations that come to mind when it is discussed (Mumby 1997; Bailey 2015). In spite of international recognition, one may still not be able to ignore the fact that there is the possibility of subject topic subtleness (Levin 2012). Therefore, forthe research focus and dissertation word limit, this study does not intend to focus majorly on the I.T /virtual aspect of communication like the e-mail, voice-mail and social media angles (Turner 2003; Hatch and Cunliffe 2006). Although their 21st century representation may not be easily ignored in the discourse of workplace communication (Gibson et al. 2012).

The focus is neither on the linguistic aspect of communication where foundational but old ‘complex’ and multifaceted issues like the written communication comes to mind with  emphasis on clarity, credibility, content, context, continuity, capability and channels as postulated by (Shannon and Weaver 1949). Instead, the study will consider communication,essentially based on the exchange of messages through verbal or non-verbal languages (French 2010). Also, since an important aspect of workplace communication is negotiation (Guirdham 2011; Koen and Mason 2005; French 2010); if Nigeria’s workplace needs to succeed; it must understand communication as a formidable tool (Harris and Moran 2007).In addition to that, ccommunication is important to how lives are coordinated within an organization (Thompson 2011). Therefore, organizational strategies and HR strategies and policies should perhaps be termed incomplete without the incorporation of effective communication because the majority of organizational functions are communication oriented(Bailey 2015; Sparrow and Farnham 2012; Akkirman and Harris 2005).

Although, not all workplace issues may be communication based  and no matter how skilled the communicator, if the content is poor, communication may still not be effective (Guirdham 2005; Tange 2005).As initially cited in the proposal to this dissertation, the example of a failed campaign may not be blamed on communication alone; because in all sincerity, it could be as a result of ineptitude, weakness, lack of fund and no proper strategy as a politician rather than a communicator (Windahl, Signitzer and Olson 2008).Therefore, effective workplace communication must incorporate feedback as performance management indicator, aligning with organizational strategy and goals to cover every aspect of employee performance from the job design (Hellqvist 2011).

 

1.1 BACKGROUND STUDY

HISTORICAL NARRATIVE TRANSITION BEHIND WORKPLACE COMMUNICATION

Historically, workplace communication otherwise known as internal communication (Hayase 2009; Whittaker, Frohlich and Daly-Jones 1994)may be said to have experienced two major epochs. The pre-behavioural era recognises Carnegie who pointed the light on communication as relevant to business in the 1920’s(Hay 1974). The Hawthorne studies of 1927 on human relations make the second era which opened up industrial communication concern and gave information on employee struggles, employee communication model and interactions. The link between communication and human relations (employee relations) was led by the Harvard Graduate School of Business Elton Mayo (Redding and Sanborn 1964). As a result, theyargue that executive’s first duty is developing and maintaining communication systems through Barnard’s book ‘The functions of the Executive’(Bernard 1938). He did not only saddle management with communication duty, he also says the message must be understandable, aligned with organizational goal, incorporate employee interest and fit for employee comprehension psychologically and physically in order to be able to act upon it.

The historical transition of internal communication is perhaps incomplete without mentioning the military’s adoption in 1940’s of the trending potency of communication.  This may also serve as proof that effective communication is not limited to organizations alone. In order to prepare themselves for strategic positioning on war efforts which characterised the era; communication scholars intervened, who through evaluative studies successfully came up with newer theories on communication (DeFleur 1998). In the same vein, a new world of organizational communication between employees and management existed concurrently which defined communication as a two way line of function for information and persuasion (Heron 1942). By the late 40’s, a research that proved the importance of the major players of workplace (internal) communication as employees and management was published titled Effective Communication in Industry(Pigors 1949). Unfortunately, the internal communication model failed in the 70’s because of the changing and complex work environment which left employees behind (Holtz 2004).

By the 80’s, the modern research on internal communication had experienced changes in structure and function because it came through an approach that would tag employees along in an adaptive and competitive way to the dynamic workplace environment in-spite of its pressures (Argenti 1986-1998). These recent study concentrated on communication as an act together with transmission model and how that impactson employees; the result revealed there was a significant link between workplace communication and job satisfaction (Hunt and Ebeling 1983).In order to prove the modern theory came up with theDiscrepancy Theory which also corroborated and reiterated the initial assumption that a relationship existed between internal communication and employee satisfaction(King, Plosser and Rebelo 1988). Furthermore, the millennium studies ushered in the post modernist view of internal communication and one of such attempted a near perfect definition to effective workplace communication incorporating feedback by exploring with two High Street Banks; the result from the research included 6 outcomes corporate vision, job satisfaction, service focus, development, commitment and loyalty(Asif and Sargeant 2000).

1.2 STATEMENT OF THE PROBLEM

In qualitative research, the study is exploratory without generalizations; on the contrary, quantitative researches usually have already studied problem so there is an existing body of literature, theory and known variables in quantitative research (Creswell 2013).The purpose of this qualitative research however, explores the level of effective workplace communication and examines the role of feedback from line managers or HR managers to employees and the factors that affects their performance in the long run within Nigerian banks. The study design also accommodates the relationship between effective communication, organizational culture, job-satisfaction, engagement, psychological contract, employee empowerment, employee motivation, appraisals, rewards and performance management by analyzing the significance of feedback on communication together with its proposed impact on employee engagement. For the purpose of this research, workplace communication and internal communication are used interchangeably to mean communication that occurs within the organization (Hayase 2009; Whittaker, Frohlich and Daly-Jones 1994).

Previous studies relevant to research field have focused on effective change & interpersonal communication which considered intercultural differences as gender inclusive communication style (Rucker and Gendrin 2007), performance management that refers to  organizations as strategic which manages cultural diversity effectively (Aghazadeh 2004), organizational communication that attempts to guard against communication overload(Goris, Pettit Jr and Vaught 2002) , workplace feedback where a conducive organizational  environment may enhance employee performance (Eklof and Hagberg 2006); Communication and sustainability, advocating the need to widen awareness on sustainability issues(Burgress, Harrison and Filius 1998), gender communication differences in the workplace that argues dichotomies between male and female managers(Wilkins and Andersen 1991), internal communication and employee engagement possible link investigation(Hayase 2009).

Also, the researcher supports the argument that recent studies on subject area are at least five-ten years old as confirmed by(Thompson 2011), whose later work on effective communication was eight years from the previous; with the exception of John Brattonwho re-introduces communication in his latest edition of Organization Behaviour,although within a chapter(Bratton 2015). Similarly, lack of sufficient scholarly consideration, reveals the need to fill the gap by attempting to propose solutions through the investigative study(Bailey 2015). Furthermore, the issue of effective communication to the research location (Bayelsa) is very important ranging from, but not limited to its usefulness for public accountability and transparency as one of the major corporate communication challenges(Makinde 2005; DiStaso 2010; Thoger Christensen 2002), to crisis communication and management (Fearn-Banks 2010).

1.3 OBJECTIVES OF THE STUDY

Research purpose is to explore Workplace Communication Modes And Employee Engagement In The Fast Food Restaurant Sector In Bayelsa

The specific objectives:

  1. To explore what constitutes effective communication
  2. To investigate the role of feedback in relation to effective workforce communication within fast food restaurant in
  3. To research possible challenges to effective communication within fast food restaurant in Bayelsa
  4. To look into the impact of effective communication on employee performance in fast food restaurant in Bayelsa

1.4 RESEARCH QUESTION:

What constitutes effective communication in the workplace?

What is the role of feedback on employee performance within the organization?

What are the possible challenges of work place effective communication?

What is the impact of effective communication on employee performance in the fast food restaurant sector?

1.5 SIGNIFICANCE OF THE STUDY

Arguably, organizational communication may be a popular topic, there seems to be limited study on workplace effective communication and feedback (Drafke 2009).Therefore this study intends to draw attention to effective communication by ascertaining to what extent feedback from line managers or HR managers make workplace communication effective on employee performance. Also, with this study, an attempt is made to promote the feedback culture. Furthermore,shiftingthe research attention to fast food restaurant sector as a possible new area of study thereby, emphasising timely  and constructive feedbacks particularly Bayelsa where workplace communication maybe majorly top-down instead of upwardor even horizontal (Quirke 1995) .This may foster  a better communication process and indirectly boost employee performance(Drafke 2009).In addition, this helps to gain a better understanding of prevalent styles and types of communication that entails within the Nigerian banks, not limiting individual perception of what workplace effective communication should be

1.6 DELIMITATIONS

The Workplace Communication Modes And Employee Engagement In The Fast Food Restaurant Sector In Bayelsa is the researcher’s focus for this study. Attempts to investigate the extent to which employee engagement is enhanced or boosted by communication are major areas of investigation. As earlier stated, studies have shown a link between workplace communication and research themes. Data collected will help the researcher reiterate on this through an explorative study.

1.7 Research methods

Methodology has been considered by various scholars to be among the remarkable determinants of a credible research (Maylor and Blackmon 2005; Bell 1999; Saunders and Lewis 2012)although, mixed method might be justifiable, because of discovery validity drawn upon merits and diminishing limitations of the qualitative and quantitative techniques (Marshall and Rossman 2014). However, given, qualitative research as a less structured format connected to an in-depth exploratory study, where the opportunities for ‘quality’ responses exists; as against the quantitative method which is an experimental social science, quantity oriented statistics in nature through testing for hypothesis (Braun and Clarke 2006;Biggman 2012; Flick 2013) , only qualitative method shall be used to analyse both primary and secondary data for themes, codes and patterns.

 

Arguably, methodological approach that deals independently with researches in organizational behaviour might have little consideration in the management literature (Edmondson and McManus 2007); yet, the study and research on organizational behaviour is a broad field with contestations and contentions (Edmondson and McManus 2007). It is ostensibly supported by authors who challenge it as viable, but the flip side of the argument is either that it is seemingly ‘too complicated and vast’ or that theories on it are quite young and as a result, the expected mix that characterises newness can still be actualized; nevertheless, developing areas on genuine organizational and workplace issues like effective communication to improve employee performance and boost motivation or employee job satisfaction may not be overlooked  (Hatch and Cunliffe 2013). The conceivable synthesis of this scholarly world views could essentially mean organizational behavioural theories are too broad to be stream-lined into a single narrative (Tsoukas and Knudsen 2005).

The qualitative approach chosen suits the semi-structured narrative interview which will be conducted so as to get an insight into the theme.  The theoretical framework applied to this study was grounded theory because the theory supports the themes elucidated upon in the study. Even when survey can be a useful way to conduct research on the impact of communication within the workplace (Creswell 2013).Interviews are descriptive, detailed and not regimented (Pickard 2012).Although, scholars have also identified the human consideration of the data to be a problem of emotions (Silverman 2010). Its analysis can be very procedural, time consuming and tiring, however, a semi-structured interview gives a freer enablement (Yin 2003; William 2011; Pickard 2012). As a result, interview questions were constructed in line with research objectives, questions and literatures(Bryman 2006;Patton 2002). Banking professionals were interviewed as authorities in the subject area.

One interview session served as pilot study to test the data instrument and check with secondary data. This also helped to see need for adjustments to be made on some of the questions and time of interview (See Appendix A for pilot interview and adjustments). The subject topic constituted major aspect of the question asked, whilst, researcher looked out for the frequencies and continuous occurrence of proposed themes as they resurfaced in the responses. Although the research method has its demerits, the advantages of research method outweighed its demerits (Pickard, 2012; Bryman, 2006).Download Full Material-N5000