This study,AN APPRAISAL FOR THE APPLICATION OF MANAGEMENT BY OBJECTIVES IN FINANCIAL INSTITUTION contains concise information that will serve as a framework or guide for your project work. The project study is well-researched for academic purposes and are usually provided in complete chapters with adequate References.
The focus of this project is to appraise the application of MBO Programmes in the affairs of Union Bank of Nigeria Plc, Okpara Avenue Branch, Enugu.
The programmes of MBO has been inadequately applied in Union Bank, Okpara avenue branch and his due to ignorance of the employees of the benefits that accrue to such full application.
Four research question and hypothesis guided this study, one hundred and twenty (120) officials comprising the senior ands junior staff were interviewed.
The questionnaires were structural in such a way as to elicit information for the stated hypothesis in the study.
Despite the benefits of MBO Union Bank Plc Okpara Avenue has not come to grip with this concept., Results of the study shows a clear abandonment of MBO y Union Bank Plc Okpara Avenue staff.
Conclusions also arrived at indicating that Union Bank do not apply MBO in carrying out organisational policies.
The focus of this project is to appraise the application of Management by objective (MBO) Programmes in Financial Institutions in Nigeria.
Management by Objective is a system whereby the Objective for company as a whole is dedicated upon by the management and subordinates to achieve the Organisational goal.
The Scope of this study will attempt to evaluate the effective application of management By Objective in Union Bank Okpara Avenue Branch, Enugu
Research questions and hypothesis will guide this study. Also Officials comprising the senior and juniors staff will be interviewed. Thus will be done through random section. The volume of this work will be up to eighty pages (80).
The questionnaires will be structured in such a way as to elicit information for hypothesis. Thus work will be structures into five chapters.
TABLE OF CONTENTS
1.1 Background of Study
1.2 Statement of Problems
1.3 Research Question
1.4 Scope of Study
1.5 Purpose of Study
1.6 Research hypothesis
1.7 Significance of Study
1.8 Limitation of Study
9 Definitions Terms
2.0 REVIEW F LITERATURE
2.1 Historical review
2.2 MBO Approaches
2.3 Steps in MBO process
2.4 The development of MBO
2.5 Advantages or Benefits of MBO
2.6 Disadvantage of MBO
2.7 Experience with MBO
2.8 Other Organisational Development Intervention Strategies/Approaches
2.9 Summary of review of Literature
3.0 RESEARCH METHODOLOGY
3.1 Area of the study
3.2 Identification of Survey Population
3.3 Sample and Sampling Procedure
3.4 Instrument for Data Collection
3.5 Questionnaire Design
3.6 Questionnaire Assumption
3.7 Validation of Research Instrument
3.8 Reliability of the research Instrument Administered.
4.0 DATA PRESENTATION AND ANALYSIS
4.1 Presentation of Questionnaire
4.2 Data Analysis
4.3 Testing of Research Question
4.4 Summary of Results
4.5 Interpretation And Results
5.0 SUMMARY OF STUDY
5.1 Discuss of Findings
5.2 Implication of the research
5.5 Suggestion for the Research
Appendix A Questionnaire
Appendix B Interview Schedule
1.1 BACKGROUND OF THE STUDY
In Nigeria, Financial Institution are those institutions that make available to customers short term, long term and other credit instruments for investments and other purposes.
They also accept deposit, valuables and perform other functions. An excellent example is the Banking Industry.
The Nigerian Banking Industry started in 1892 when the Africa Banking corporation was Incorporated. This was followed by the establishment of Barclays Bank of Nigeria Plc.
The Union bank of Nigeria Plc is among the First generation Banks in Nigeria. It was incorporated In Nigeria Companies and Allied Matter’s Decree of 1990 as other many public liabilities Companies. The Union Bank of Nigeria Plc is the first of the First generation Banks to be wholly own by the Nigerian public. At present, there are about 300 branches all over Country with the headquarters at Broad Street Marina Lagos.
The role of Union Bank in economic development of the Nation cannot be over emphasized. These services rendered by Union bank manager from Ordinary Mobilization of saving to the more sophisticates and not too common business advisory services, Bank generally are regarded as provides of loans which indirectly entails the creation of money and extention of credit facilities. An organisation that that trades principally in money requires honesty as a watch –ward. Union Bank is tailored towards customers satisfaction in the rendition of new services.
An organisation such as Union Bank Plc that thrives on trust and honesty of this staff for discharge of new services must seek an effective and impartial way of rewarding its employees. Also the efficiency of the service rendered by the Bank depends on the management approach adopted by the Bank.
One management concept that encourages efficiency is management by Objectives. Drwcker (1974), Looked at (MBO) as a system whereby the objectives for the company as a whole are decided upon by the management and subordinates to archive the organisational goal. When this is applied in targets setting the managers and subordinates alike receive regular feed back through performance review and are closely involved in the settings their own targets.
The top management approach has been in existence for a greater in part of the distance of the bank.
The subordinates are only given a line of action for following the course of attaining the set targets with increasing awareness f the part of the employees through in services training, furtherance to their education, exposure to what is obtained in other banks and the deregulation of he economy, with de-emphasis in profit making, the bank has started making in roads in modern management practices such as management By Objectives (MBO).
This research work is to investigate the extent to which all cadre of employees are involved in target setting and evaluate its application in light of the forgone. The Organisational structure of Union Bank Plc is divided into three distinct segments for effective discharge of her services to customers.
1.2 STATEMENT OF PROBLEM
An organisation such as Union Bank Okpara Avenue Branch with numerous employees needs an effective and practical management approach to allow for integration f various personal objectives of the employees and that of the organisational objectives in order to achieve the organizational goals.
This study will focus on the following problems.
1.3 RESEARCH QUESTIONS
This study will be designed to find answers to the following research questions.
1.4 SCOPE OF STUDY
The scope of this study will attempt to evaluate he effective application of MBO in Union Bank Okpara Avenue, Enugu, within the lost decade there has been an interesting development in the field of management. Drwckers, (1974) has stressed that management is the consequences; Management By objectives has gained much momentum only in recent year’s, it cannot be said that it is quite a new phenomenon on management development. It is only in recent times that its importance and relevance has come to be highly appreciated.
Thus study will therefore attempt to establish the linkage between the subordinate and management in contributing to the organisational objective and to what extent MBO affects the overall efficiency of the Union Bank Plc.
The scope covered by this study will be limited to Union Bank of Nigerian Plc, Okpara avenue branch, this study will serve as representative of almost all the branches of Union Bank of Nigeria Plc.
1.5 PURPOSE FO STUDY
The proliferation of commercial Banks in the Country has placed employers of the generation bank in high demand. Also the deregulation of the economy in recent times is affecting the fortunes of Banks Cowpled with employees in recent desires to development their talents to the higher degree, that is self actualization.
Moreover, the dominant management approach, top bottom concept in practice is not motivation the moral o the employees good enough to achieve the desired results. Similarly, the MBO concept which the Bank is blending with the old practice is to be evaluated and examined how its application is contributory tot he performance of he Bank given the aforementioned constraints.
Umoh (1994) postulates, that management is the process of getting this done by using some other people to achieve a set objective. One management concept that is widely applied for this purpose is MBO and policy markers are making a more conscious effort to popularize this concept.
It is therefore the objective of this study to :-
iii. Find out the relationship between the application of MBO and level o efficiency in the bank.
1.6 RESEARCH HYPOTHESIS
The following hypothesis will be tested in the course of the study.
H1 The management staff and the subordinates are often not aware of the organisation target.
H2 Involving Subordinates in setting organization goal has no relationship with employee’s productivity level.
H3 Encouragement and recognition has no positive effect on moral and Job satisfaction as would a pay rise.
H4 The organization’s goals attainment and direct is dependent on the application of MBO.
1.7 SIGNIFICANCE OF STUDY
This study is primarily interested in explaining how an effective application of management by objective will enhance employee moral and increase productive as well as general efficiency of the Bank in question.
Umoh (1994) paints a true picture of the wide range of benefits to be gained in the application of MBO.
Attention will be focused in the deployment of personnel to various department of the Bank at Okpara Avenue, Enugu.
iii. FINANCIAL INSTITUTIONS: Those Institution that make available to Customer’s short term,. long term and other credit Instruments for investment purposes.
1.8 DEFINITION OF TERMS
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