CONTEMPORARY RESEARCH AND INTELLECTUAL IN UNVEILING SUB-SAHARA AFRICAN POTENTIALS IN THE NEW MILLENNIUM
JULY 30, 2015
F.U.T.A., HILLTOP CONFERENCE HALL, AKURE,
- PROCEEDINGS (Vol. 3 No.4)
ASSESSMENT OF THE NON- FINANCIAL MEASURES OF PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA
ADAMU DANLAMI AHMED
Gombe State University, Gombe
This work aimed at assessing the no2n- financial Measures of Performance of Deposit Money Banks in Nigeria. The population of the study comprised the entire 21 Banks listed on the Nigerian Stock Exchange as at December, 2013. The study employed expos -factor research design; data were collected from a sample of nine (9) Deposits money banks.Content analysis method was employed, with the use of scoring and grading method. The study concluded that Nigerian Deposit money banks (DMBs) disclose some part of non-financial measure of performance in their annual report, also the study found out Deposit money banks disclosed voluntary information in their annual report. It was recommended that steps should be taken by the Federal reporting council of Nigeria (FRCN), Securities Exchange Commission (SEC), Nigerian Stock Exchange (NSE) and other regulatory bodies to ensure full compliance with relevant International financial reporting standards/International Accounting standards (IFRS/IAS) accounting disclosure requirements. And to make sure that Nigerian Deposit money Banks are disclosing financials and non-financial measures in their annual report for better decision making by their users. Lastly, given the importance of performance evaluation for managers, stockholders and investors, it is suggested that the Nigerian Stock Exchange (NSE) and the Central Bank of Nigeria (CBN) should issue a policy guideline regarding the adoption of Balance scorecard (BSC) as performance assessment technique for the Nigerian deposit money banks.
BUDGETARY CONTROL AND PERFORMANCE OF MANUFACTURING INDUSTRIES IN NIGERIA
FAJINMI JAMES AKINLOLU
Department of Accountancy, Federal Polytechnic, Ede
This paper examines the relationship between level of budgetary control and performance of manufacturing companies. Budget is a tool for controlling business resources, a tool for measuring performance and a reliable instrument for motivating workers for higher performance. Part of business plan is to prepare and adopt budget for each business period. In this paper, the researcher takes a look at the extent to which manufacturing companies prepare and use budget with a view to assessing the impact of budgetary control on profitability. Primary data was collected with the use of questionnaire while secondary data were collected from company’s records, textbooks and journals. Hypothesis was tested by chi-square method. The analysis revealed that only high-rank workers of Yale Foods Ltd are participating well in budget preparation and that the frequency at which actual results are compared with budgeted result aids performance. The obstacle to effective performance is the way budget items are usually arranged and written that is making it difficult for some of the workers to interpret. The way out is for business organizations to organise seminar for their staff at the beginning of every business year purposely to educate them on budget.
EFFECT OF INTELLECTUAL CAPITAL COMPONENT ON THE FINANCIAL PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA
Department of Accounting Faculty of Arts and Social Sciences Gombe State University
This study was carried out to examine the effect of intellectual capital component on the financial performance of deposit money banks in Nigeria using a purposive sampling technique to select a sample of eight banks from the total population of banks listed on the Nigerian stock exchange during the eight year period, 2006 – 2013. Data for the sampled banks were generated and analyzed using correlation and multi-linear regression technique. The result shows that intellectual capital component (HCE, SCE & CEE) have positive and significant effect on the financial performance of deposit money banks in Nigeria. The outcome of these finding, indicates consistency with prior empirical studies. It is therefore recommended that managers should put more emphasis in managing intellectual capital component efficiently and try as much to measure and report intellectual capital in their annual report.
EFFECTIVE PRODUCT TESTING TECHNIQUE: A COMPARATIVE RESEARCH ANALYSIS AND STRATEGIES FOR UNVEILING SUB-SAHARAN MARKETING POTENTIALS
ACHAMA GODWIN IKECHUKWU.
1Department of Business Administration & Management Technology, Imo State Polytechnic, Umuagwo-Ohaji
This study discussed the effective product testing techniques as a strategic tool for unveiling sub-saharan marketing potentials. This was carried out by determining explicitly the most effective research procedure which will reduce cost, losses and risks involved in strategies and at the same time permit decisions to be made while investments are minimal. The objective of this study is to concurrently evaluate the various product testing methods with a view to comparing them on validity and sensitivity and subsequently determine the most effective method of product testing. The questionnaire questions on validity and sensitivity analyses evaluated the test products on a 5-point scale and the test statistic (t-test) was used to finding the differences between the mean of two groups of data. The test result showed that Round Robbin methods brings about the most significant differences among the test products and the stratification sampling design was considered necessary to ensure matching between products, sample representativeness and increased desired statistical precision. The study was concluded with a confirmation that the Round Robbin technique is the most sensitive product testing method and subsequently recommended that the method be subjected to further studies with more product performance variables.
PERFORMANCE APPRAISAL AND JOB PERFORMANCE: EVIDENCE FROM OYO STATE OWNED TERTIARY INSTITUTIONS, NIGERIA
1KAREEM, T.S 2 FOLORUNSO, O.O, 3ABODUNDE, S.M
1Department of Purchasing and Supply, The Polytechnic, Ibadan, Nigeria.2-3Department of Business Administration And Management Studies, The Polytechnic, Ibadan, Nigeria
Today, performance appraisal has been transformed to a strategic approach for integrating of human resources activities and business policies. This study examines the impact of performance appraisal on job performance among administrative staff in Oyo state-owned tertiary institutions, Nigeria. Multi-stage sampling procedure consisting stratified sampling technique and simple random sampling technique were used to select one hundred and twenty (120) respondents from three Oyo state-owned tertiary institutions (The Polytechnic, Ibadan, Oyo State College of Education, Oyo and Oyo State College of Agriculture, Igboora). Primary data was used for this study. Primary data was structured questionnaire designed for administrative staff of tertiary institutions. Data was analyzed with aid of simple percentage, weighted mean score and simple regression analysis. The result confirms that majority of administrative staff in Oyo state-owned tertiary institutions aware of performance appraisal in their respective institutions. Result also shows that the major purpose of performance appraisal in Oyo state-owned tertiary institutions is for promotion, rewards, discipline and transfers. Result also reveals that performance appraisal (β = 1.543, t = 8.670**, p = 0.00) significantly influenced job performance. The result also reveals that performance appraisal has 60.8% decisive influence on job performance. The study concludes that performance appraisal is a strong motivational instrument that engenders individual job performance and reduces the high turnover rate. It was therefore recommended that management of Oyo state-owned tertiary institutions as well as other public higher education institutions should base the evaluation of their employees’ performance on their accomplishment and achievements.
IMPACT OF HUMAN CAPITAL DEVELOPMENT ON SUSTAINABLE ECONOMIC DEVELOPMENT IN NIGERIA
1, ITIOLA, KEHINDE ADENIRAN, 2,ADEYEMI, MARIAM ADEBISI, 3, OLAOYE, BOSEDE OLUBUSAYO
1-3Department of Business Administration, Osun State Polytechnic, Iree, Nigeria
The study analyse the impact of human capital development on sustainable economic development in Nigeria. This paper adopts a quantitative research method because of the nature of the study and research questions formulated by the researchers. Quantitative data are often sourced by interview and survey techniques. Purposive method was used to select fifty (50) academic staff and one hundred (100) students from various departments in The Polytechnic, Ibadan. A period of three weeks was used for data gathering via structured questionnaire. Thereafter, a total of 130 questionnaire was retrieved, analysed was performed through Linear Regression with aid of STATA version 11. Result showed that human capital development (β = 0.694, t = 9.809**, P = 0.00) significantly influenced sustainable economic development. The relationship was said to be positive which implies that human capital development is an important impetus of sustainable economic development. The result also revealed that human capital development has 43.3% decisive influence on sustainable economic development. The study concluded that human capital development is a driven force for sustainable economic development in Nigeria. It was recommended that government should increase funding in the education sector and an overhaul of the primary/secondary school and tertiary institutions curriculum that would accommodate training in the vocations and agriculture.
ENTREPRENEURSHIP DEVELOPMENT FOR SUSTAINING ECONOMIC DEVELOPMENT IN NIGERIA
1,SAJUYIGBE, ADEMOLA. S, 2,MADU –IGWE, CLARA. O 3, UNACHUKWU, J. C
1Department of Business Administration & Management, Osun State Polytechnic, Iree, Nigeria 2 Registry, Federal University of Technology, Akure, Nigeria 3,Department of Insurance, Federal Polytechnic, Offa, kwara State, Nigeria
This study examines the relationship between entrepreneurship development and sustaining economic development in Nigeria. Simple random sampling technique was used to select One hundred and five (105) entrepreneurs from the three senatorial zones of Osun State. Questionnaire was designed to elicit information on entrepreneurship development, employment generation and poverty reduction. Pearson Product Moment Correlation Coefficient (PPMCC) was used to analysis the data. Results reveal that entrepreneurship development was positively and significantly related with the employment generation (r = 0.741**) and poverty reduction (r= 0.597) respectively. The study concludes that entrepreneurship development leads to sustainable economic development through job creation and poverty reduction. The implication of the study shows that entrepreneurship development invariably leads to job creation which consequently leads to economic development. The study therefore recommends that federal government should provide enabling environment for entrepreneurship development by provide necessary basic amenities and infrastructural facilities that will enable entrepreneurs to thrive in the country.
AN ASSESSMENT OF INVENTORY MANAGEMENT PRACTICES OF SMALL AND MEDIUM SCALE MANUFACTURERS IN OSUN STATE OF NIGERIA
FAJINMI JAMES AKINLOLU
Department of Accountancy, Federal Polytechnic, Ede
This paper examines inventory management and control practices of small and medium scale manufacturing companies in Osun State of Nigeria. Inventory management and control serve as part of cost minimization strategies. People, especially manufacturers, keep and manage inventory to avoid unfavourable circumstance of not getting raw materials to process or finished goods to sell. Primary data was collected through the use of questionnaire and oral interview while secondary data were collected from textbooks and journals. For data analysis, tables and percentages were used. The analysis revealed that the various inventory management and control techniques are capable of reducing cost if properly adopted but that small and medium scale manufacturing industries are not properly adopting the techniques due to lack of adequate training and awareness. The way out is for manufacturing industries to organize conferences and seminars to create awareness of inventory management techniques and give employees adequate training.
THE INFLUENCE OF EXPERIENCE AS A WORKER ON SUCCESS OF SELF EMPLOYMENT BUSINESSES
*SAMUEL OYEBANJI AKINTUNDE **OLUWAKEMI OLUDOTUN OYEFESOBI
**Department of Business Administration and Management Moshood Abiola Polytechnic, Abeokuta, **Department of Marketing, Moshood Abiola Polytechnic, Abeokuta
This paper investigated the influence of experiences on the success of self employment endeavours. A survey research design was used to elicit data from a sample size of 150 small scale business owners who operate in Mushin Local Government of Lagos State through a structured questionnaire. Data were analysed with the aid of descriptive statistics of mean and standard deviation. The analysis showed that experience as a worker in previous ownership structure facilitate the success of self-ownership in small scale businesses, as it enhance access to key technical knowledge about the business, business contacts, business finances, among others. Based on this findings we stress the need for those wishing to be self employed to first gain experience and resources through assisting and or working for others as a worker and also for government to initiate policies to facilitate this..
THE SOCIO – ECONOMIC IMPACT OF POWER AS A FACTOR OF DEVELOPMENT IN AFRICA – THE NIGERIAN EXPERIENCE.
*VEN EGESI JONATHAN C., *ALANEME JUSTINA .C. **DR. (MRS.) IJEOMA EZECHUKWUNYERE-NWEBO **REV. CANON (DR) CHIDI AHARA ***MRS. KEINDE TAIWO OLUBUNMI
*Imo State Polytechnic, Umuagwo – Ohaji, P.M.B 1472, Owerri-Nigeria **Alvan Ikoku Federal University of Education, Owerri***Tai Solarin University of Education, Ijebu Ode
Power have been as old as the human society including leadership. No matter how and when the society embodied by human beings among others is characterized by man and power cannot be separated from power. There is no human society devoid of power. There is no society where power does not come into play which is to simply say that there is no egalitarian society. The idea of visualizing a human society where all is equal is ideal but not attainable but imaginable. The social and economic impact of power in human society with Nigeria a case study is not a ruse, it is factual. These researchers tries to find out the level of impact or influence that power has as a factor of development in Africa. To the best of our knowledge, it will be imperative to establish that development, developmental processes and all that pertains to development revolves around power. These scholars adopted different research methods or techniques in the collection of its data. The work concluded by suggesting ways that power can be enhanced in Nigeria.
AFRICAN ESSENCE: TOWARDS REDEFINING AFRICAN POTENTIALS IN THE NEW MILLENNIUM: A PHILOSOPHICAL DISCOURSE.
Victor Ogheneochuko Jeko,
Department of Philosophy, Faculty of Arts, Nnamdi Azikiwe University, Awka, Anambra State
It is argued that the African identity, essence or difference has left much to be desired. The African essence or difference has been hijacked by some marauders who have constantly plaguing the African continent. Africans in this contemporary time are in perpetual poverty and there is this loss of African essence. What Africa as a continent is experiencing today is clear cut post-colonial crises, political imbroglio and economic morass. As Oyekan Owomoyela (1996:xi) rightly observed the fight for African liberation, emancipation, and historization must continue as long as the belief in the essential pathology of Africanity can boast a proponent the nudging and prompting of African essence, culture, authenticity must be revived by our intellectual response in order to unveil African potentials in this new millennium. The dangers of ignoring threats to the survival of African essence, identity, culture, language, difference, and historicity are clear. We must begin to brainstorm and define this African essence, identity, culture and language; we must begin to see the African community from a more conscious unity of the principle of complementarity. Difference is part and parcel of humanity. We must not take difference to the extreme. We must begin to strike a balance when it comes to the issue of African difference, essence, culture, historicity, language, liberation and emancipation.