ABSTRACT
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.
PROJECT TOPICS
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
Cover page
Title page
Approval page
Dedication
Acknowledgement
Abstract
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
Reference:
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
Reference:
CHAPTER
THREE: RESEARCH METHODOLOGY.
Research design
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.
5.2 Conclusion
5.3
Implications of the research findings
5.4
Recommendations
5.5
Suggestions for further research
Reference:
Bibliography
Appendix
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.
CHAPTER ONE
INTRODUCTION
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
The overall
objective of this study is to determine the impact of business policies on
organizational performance. Thus, the
specific objectives are:
1.
To determine how procurement
policy affects costs and product prices.
2.
To find out how
production policy affects supply, product quality and prices.
3.
To determine if
marketing and pricing policies affect sales.
4.
To identify how
financial policy affects business operations.
5.
To ascertain if
research and development affect and business performance. I secured questions on the topic or near it.
1.4
SCOPE
OF THE STUDY
The scope of
this study covers only policies in respect of procurement, production, pricing,
marketing, research and development in three business organisations in Enugu
Metropolis.
1.5
RESEARCH
QUESTIONS
The following questions will guide this
study;
1.
In what ways can
procurement policy affect production costs and product prices?
2.
How does production
policy affect support, product quality and prices?
3.
How do marketing and
pricing decisions affect sales volume?
4.
In what way does
financial policy affect the operations of the business?
5.
In which ways can
research and development affect the performance of the business?
1.6
SIGNIFICANCE
OF THE STUDY
This study is
significant because of it’s usefulness in many respects. Firstly, many private and public sector
enterprises have been performing poorly because they do not have clearly
defined business policies. Others have
been performing poorly in spite of existing business policies. It will therefore be expedient for their
management to see the need for formulating and effectively implementing
business policies as will be shown in this study. the research findings will show how effective
business policy can be formulated while the recommendation will show how that
can also be implemented for good results.
Secondly,
management of business organizations will also see the need for reviewing their
business policies in line with changing business conditions. Review of policies will ensure that critical
decisions are taken to supplant existing ones if it is the way to achieve
organizational goals.
Thirdly, there
is the need for management to set those goals that can be achieved within the
available resources of the organisation.
1.6
LIMITATIONS OF THE STUDY
Two
major constraints were encountered in the course of this study. firstly, same of the staff approached for
information declined to complete the questionnaires as well as to be
interviewed. This uncooperative attitude
limited the volume of primary information made available for the study.
Secondly,
the financial constraint facing the researcher prevented from making the study
more extensive by including more establishments into the study. could not afford the costs of travels and
additional questionnaires that would be required.
REFERENCE
Aniebona, B.C. (1999:52) Issues in Business
Management (ed)
Awka: Africana – Fed Publishers Ltd.
Ewierum, U.J.F and Unamka, P.C.
(1995:72) Business
Administration
Business Administration Enugu: Precision Printers and Publishers.
Hanson, M.L. (1994:92) Business Administration; An
Introductory
Management Approach Illinois;
Richard D, Irwin inc
Kindceberger,
D.C.
(1996:52) Management. London:
Mc
Donald & Evan Ltd.
Ugbaja, C.O. (1996: 112) Corporate Planning in
Business. Benin
City: Ethiope Publishers Ltd.
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