THE IMPACT OF BUSINESS POLICY ON ORGANISATIONAL PERFORMANCE
The aim of this study is to determine the impact of business policy on organizational performance. Data were collected from primary and secondary sources.
Data are presented in tables as frequency distribution and in the analysis, the techniques of frequency and percentage are used. The findings of the study are;
1. Effective financial policy leads to effective financial management.
2. Effective pricing policy enhances sales and profitability.
3. Effective production policy ensures improved product quality.
4. Effective marketing policy ensures profitability and growth.
In conclusion, effective business policy enhances growth, survival and profitability of a potential business.
1. IMPACT OF BUSINESS POLICY ON ORGANISATIONAL PERFORMANCE.
2. PROBLEMS OF TRAINING AND DEVELOPMENT IN PUBLIC SECTOR. (A CASE STUDY OF FEDERAL MINISTRY OF EDICATION, ABUJA).
3. USING MANAGEMENT INFORMATION SYSTEM TO IMPROVE CUSTOMER SERVICES AND GROWTH IN THE BANKING INDUSTRY. (A CASE STUDY OF CONTINENTIAL TRUST BANK LIMITED)
TABLE OF CONTENTS
List of table
Table of contents
CHAPTER ONE: INTRODUCTION
1.1 Background of the study
1.2 Statement of the problem
1.3 Purpose of the study
1.4 Scope of the study
1.5 Research questions
1.6 Significance of the study
1.7 Limitations of the study
CHAPTER TWO: LITERATURE REVIEW.
2.1 Definition and meaning of policy.
2.2 Characteristics and scope of policy.
2.3 Policy formulation
2.4 Uses and functions of policy
2.5 Aspects of business policy
2.6 Organisational performance
2.7 Impact of effective business policy on organizational performance.
2.8 Summary of reviewed literature
CHAPTER THREE: RESEARCH METHODOLOGY.
Area of study
Population of the study.
Sample size determination and sample techniques.
Instrument for data collection
Validation of the instrument
Reliability of the study
Method of data collection.
Method of data analysis
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
Presentation and analysis of data
Testing of hypothesis.
Summary of results.
CHAPTER FIVE: DISCUSSION, RECOMMENDATION AND CONCLUSION.
5.1 Discussion of result/findings.
5.3 Implications of the research findings
5.5 Suggestions for further research
LIST OF TABLE
Table 4.1: sex distribution of respondent
Table 4.2: marital distribution of respondents
Table 4.3: educations level attained.
Table 4.4: organizational distribution of respondent
Table 4.5: management staff cadres
Table 4.6: types of working capital employed by the orgniosations
Table 4.7: strategies for ensuring efficiency in fund allocation to various department,
Table 4.8: effects of effective financial policy on organinsational performance.
Table 4.9: responses to whether the organization have efficient financial accounting system.
Table 4. 10: responses to whether the organization have a specific methods of keeping investory.
Table 4.11: effects of accounting policy on business performance.
Table 4.12: responses to whether the organizations have effective marketing policy .
Table 4.13: marketing policies of theorganinsations.
Table 4.14: basis of pricing policy.
Table 4.15: effects of effective marketing policy on organizations performance.
Table 4.16: responses to whether the organizations have efficient production policy.
Table 4.17: ways of ensuring efficient production policy.
Table 4.18: effects of efficient production policy.
Table 4.19: areas of research.
Table 4.20: impact of research.
1.1 BACKGROUND OF THE STUDY.
Every business has a set of objectives which it sets out to achieves. These objectives are stated or defined in their policy or mission statements. In order to achieve the set goals, management ensures that all operations, transactions and activities of the business conform with established guides. The established guide to action is called business guide to action is called business policy. (kindle Berger, 1996:52)
Thus, a policy is a guide for making decisions in the enter pries (Ewurum and Unanka, 1995: 72)
For efficient performance a standard operational procedure must be followed and this, apparently, defines the boundary within which decision can be made. If one decision provides help for decision in other situations, it is said to be a policy decision because it set a precedence and provides a guide to future decision making. Thus, an important characteristic of a policy is that it provides a guide and a reference point for decision-making by subordinates. Clear policies encourage the delegation of decision-making authority.
In corporate business a number of important issues require or calls for top management decisions. These decisions will define the fundamental business policies which arise from the objectives set to be achieved and are related to the functional areas. These areas are procurement, production, marking, finance, personnel, research and development (Hanson, 1994:92).
Top management (Board of Directors) have to provide guiding principles to actions of lower management in these functional areas. For instance there should be a guiding principle on how and where raw materials should be procured, what to produce and production technique to be adopted and what marking strategies to adopt (including pricing) in order to be include method of financing as well as research and development.
Management expects believe that organizational performance to a large extant depends on how effective decisions taken on these functional areas are and how judiciously these decisions are implemented as business policies. performance indications include market share, sales volume, product quality, customer satisfaction, level of profit, growth rate, etc (Aniebona, 1999:56).
Business policies affect these variables.
Apparently, many business organizations have gave under because they did not have action guiding principle. Decisions and activities of such enterprises were arbitrarily taken and carried out. Today, it has become obvious that business activities have to be conducted within the framework of guiding principles if the organization should perform efficiently and effectively. It is against this background that this study is set to examine the impact of business policies on organizational performance.
1.2 STATEMENT OF THE PROBLEM
Many business organizations do not have clearly defined business policies. In other words, they do not have clearly defined policies regarding procurement, marketing, etc. Apparently, such business may not achieve their objectives. Lack of clearly defined and effectively implemented business policies could hamper the performance of the organizations. This implies that profit maximization and growth will become elusive.
Nevertheless, many organizations do not have clearly defined business objectives and have continued to operate under the harsh business environment prevalent in our economy. This, therefore, calls for an investigation into how business policies affect organizational performance.
1.3 PURPOSE OF THE STUDY