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.
PROPOSAL
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
Title Page … … … … … … … … i
Approval Page … … … … … … … … ii
Acknowledgment … … … … … … … iii
Abstract … … … … … … … … iv
Table of Content … … … … … … … v
CHAPTER ONE
10 INTRODUCTION
11 Background of Study
12 Statement of Problems
13 Research Question
14 Scope of Study
15 Purpose of Study
16 Research hypothesis
17 Significance of Study
18 Limitation of Study
9 Definitions Terms
110 References
CHAPTER TWO
20 REVIEW F LITERATURE
21 Historical review
22 MBO Approaches
23 Steps in MBO process
24 The development of MBO
25 Advantages or Benefits of MBO
26 Disadvantage of MBO
27 Experience with MBO
28 Other Organisational Development Intervention Strategies/Approaches
29 Summary of review of Literature
210 References
CHAPTER THREE
30 RESEARCH METHODOLOGY
31 Area of the study
32 Identification of Survey Population
33 Sample and Sampling Procedure
34 Instrument for Data Collection
35 Questionnaire Design
36 Questionnaire Assumption
37 Validation of Research Instrument
38 Reliability of the research Instrument Administered
39 Reference
CHAPTER FOUR
40 DATA PRESENTATION AND ANALYSIS
41 Presentation of Questionnaire
42 Data Analysis
43 Testing of Research Question
44 Summary of Results
45 Interpretation And Results
CHAPTER FIVE
50 SUMMARY OF STUDY
51 Discuss of Findings
52 Implication of the research
53 Conclusion
54 Recommendation
55 Suggestion for the Research
Bibliography
Appendix A Questionnaire
Questionnaire
Appendix B Interview Schedule
CHAPTER ONE
10 INTRODUCTION
11 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
a The Head Office: The Corporate Head Office is situated at Marina Street, Lagos
b The Area Offices: The area Offices are located in the Northern region, Eastern region and Western region o the Country
c The Branches: The branch offices are scattered all over the Country
This research work is picking at the many branches of the Bank
This is the Okpara Avenue Branch Enugu
12 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 Presently in Union Bank Okpara Avenue Branch formulation of polices is exclusively reserved for the top management As a result subordinates and employees do not understand and finds it difficult to adhere to these policies
2 The difference and conflicts encountered in policies, execution by subordinates and employees because of non-participation in policies formulation demoralized the middle and bottom levels of management consequently initiatives are relegated to the background
3 With the application of (MBO), can the employees at all levels in the bank see each other's view as aiming towards the achievement of he overall organisational objectives and generally efficiency of the Bank
4 Finally, how can (MB)) cushion the effects f the existing problems in the management approach with the general efficiency of the branch as well as self actualization of both the employees and the branch in mind
13 RESEARCH QUESTIONS
This study will be designed to find answers to the following research questions
1 In the setting f the Union Bank Plc Okpara avenue Branch goals both short and long un are the employees involves and to what extent ?
2 Are the employees aware of /or have pre-knowledge about goals of the branch
3 Are supervisors always after faults no complimenting any good job alone, provided staff annual benefits are granted, do he staff feel satisfied ?
4 How effective is the application of (MBO) in the Union Bank Okpara Avenue Branch?
14 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
15 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 :-
i Study the role of management by objective in Union Bank Plc Okpara Avenue Branch, Enugu
ii Examine the extent, the MBO is applied in the activities of the Union Bank Okpara Avenue, Enugu
iii Find out the relationship between the application of MBO and level o efficiency in the bank
iv Taking cognizance of related problems facing the effective application of MBO
v Educating the existing personnel on the applicability of MBO
16 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
17 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
18 LIMITATION OF STUDY
Certain factors limited against this project and these were all predominant constraints:
1 Time constraint come out distinctly, the researcher had problms of using the limited time available in writing this work is grossly inadequate
2 Finance was another constraints that made the researcher not to better than the present quality of he work The researcher found it difficult to be transporting herself to and from her research place, home and the school
3 The in co-operative attitude and uncompromising behaviour of some principal officers also hindered the production of this work
19 DEFINITION OF TERMS
i MBO: Management By Objective
ii APPRAISAL; Evaluation, or to evaluate
iii FINANCIAL INSTITUTIONS: Those Institution that make available to Customer's short term, long term and other credit Instruments for investment purposes
iv Management By Objective: A System whereby the objectives for the Company as a whole are decided upon by the Management and subordinates to achieves the organisational goal
110 REFERENCES
J ORJIH (1996) Business Research Methodology:
Enugu: Meteson Publicity Company
Drucker P (1954) The Practice of Management: New York:
Harper and Row Publishers Inc