The Causes Of Failures Among Some Managers In Business Organization

THE CAUSES OF FAILURES AMONG SOME MANAGERS IN BUSINESS ORGANIZATION(A CASE STUDY OF FIRST BANK NIG. PLC ENUGU)

It started first in managerial and management in purely a deduction from the period of antiquity that is before 1800. There are a lot learn from the period of antiquity as life reverse intronized and sophisticated.

According to history of Nigeria Agricultural and Co-operative Bank Limited (NACB) was established as a National Agriculture and Credit Institution on November 24,1972 and real into co-operation on march 6,1973. Its establishment was hinged on the row vindicated conviction that the bank will promote the income level of farmers and thus make farming more attractive.

Today (NACB) started off as the Nigeria Agricultural Bank limited (NACB) and actually look its new in 1978 at the instance of the Nigerian government. This is the government view was to reflect more vividly the bank commitment to Agricultural development through the promotion and financing of co-operative. Thus, the NACB today is a welcome relief to Nigerian farmers. The Banks inauguration marked on important land mark in the nations Agricultural development and it has continued to serve as a national financial institutional devoted entirely to investing in all aspects of the agricultural industry and more importantly it has continued to serve as a source of fund to Nigerian farmer.

MAIN OBJECTIVES AND FUNCTIONS OF (NACB).

As a development finance institutions the Nigeria Agricultural and Co-operative Bank Limited (NACB) was established to deliver credit in the Agricultural sector of the Nigerian economy having the following specific objectives as its focus.

–        Promotion of Agricultural production and rural development.

–        Assisting in the improvement of the income quality of life of Nigerian economy.

–        Contributing to the overall growth and development of the Nigerian economy.

FUNCTIONS OF (NACB).

  1. The provision of loans to individual farmers, co-operative organization, limited liability companies, State and Federal Govt. agencies.
  2. Financing direct investment in the equity capital of major agricultural and industrial ventures.
  • Providing guarantees for viable agricultural and ventures to enable them raise finance either locally or from abroad.
  1. Improving the income and welfare of farmers and promoting rural development.
  2. Increasing the nations output of food and cash crops to meet the needs of a rapidly increasing population
  3. Financing all farmer of Agricultural project, which includes fishery, cattle, poultry, rabbit, piggery, and forestry and timber product.
  • Financing of agricultural projects including tractor luring, agro processing and storage.

SOURCE OF FUNDS AND FINANCIAL CAPABILITY

NACB has two major sources of funds they are the local and international forces. The local sources could be further broken down into two: The Federal Government of Nigeria and Central Bank of Nigeria. A part from equity participation, the Federal Government usually makes a yearly statutory allocation to the bank in form of loan for credit delivery to farmers.   Since the local sources can no longer be totally rely on for sufficient investiable funds. It follows naturally that international capital market so as to be in a better position to give effort to the federal government policy on agricultural and with the bank share capital now starting at N500 million. It has been institution out negative for loans lending institution outside the country. These institutions include the International Bank for Reconstruction and Development (IBRD), African Development (ADB) ECOWAS fund, European Investment Bank, European Development Bank and International Fund for Agricultural Development (IFAD).

ORGANIZATIONAL STRUCTURE

Nigeria Agricultural and Co-operative Bank Limited has nine department. These are financial, administration legal, estate, inspection, research, planning and development operations. Financing and company secretary office inducing (5) zonal officers maintained by zonal controllers 47 Branch officers and about 300 representative officers nation wide. At present, the bank is being managed by a management team comprising, Managing Director and Chief Executive of the bank. Four Executive Directors and Nine General Managers. While the above General Management Team is under the supervision and control of the Board of Directors.

 

2.2 SCHOOLS OF THOUGHT WITHIN THE SUBJECT AREA

The school of thought within the causes of failures among some managers in business organization is that they have some contribution which help the managers to indicate how such failures can be prevented.

According to John W. Humble in his book of Improving Business Results state that purpose is not clearly defined, the efforts of the company, overall and of the individual managers within it are often dissipated on trivial and non profit influence tasks. This objectives is an ideal functions in an organization which when elected managers will find themselves failing in business organization. As planning is the first managerial functions one is expected to perform any industrial activity. Its successful accomplishment requires analysis of the data from the past decision in the present and location of the future. It is a common saying that if you do not know where you are going, any road will get you there. It is therefore clear that individual and organizational activity without a plan is likely to result to poor failure. Planning is concerned with the establishment of organizational objectives forecasting the environment in which objectives must be accomplished.

 

2.3     SCHOOL OF THOUGHT RELEVANT TO THE PROBLEM OF

STUDY

Agent John (1975) management technique looked at causes of failure among some manager in business organization that is problem relevant to this enough information.

Managers complain that they are not informed of decision that affect them. Do they not know that margin on each unit of sales. The cost of producing an extra unit is not known nor is the contribution of profits arising from any given activity because they lack enough information to make decision will be very difficulty information too late. One thing is to find a piece of information but another is to produce it, when it is needed. This also applies to manager’s inability to get information on time. This effect has responsibilities.

Human Relations

Excessive wages, claims for special bounces complaints about working conditions, high labour turnover. In general the greater the number of people employed in the bank the more severe the problem becomes.

 

 

Selection Of Personnel

Even if one knows precisely what qualities are required of a manager to do a given job well, it is difficult to determine whether any candidate has these qualities.

According to Dr. A.K. Ubeku (1980) in his Personal Management in Nigeria says that process of selection and placement. The duty of the personnel manager yet it his its problems, the Nigeria personnel management too many applicants are chasing few job.

Lack of training facilities for personnel practitioners. Unless a company is prepared to send the individual abroad he will just have to learn on the job a situation which is completely unsatisfactory.

Argent John (1975) in his management technique, whose contributions are of paramount importance say ‘some managers failed if the company has not been set clear, unequivocal, long term objectives to aim at what line of business, the bank is in and whether it should stay in it to diversify or integrate or whether to merge how it can finance expansion, just to mention but few. He has not analyzed how the company might be affected by the impending social, political, economic and technological changes.

P.W. Betta, has his own view many possible causes and combination apply such as personality clash, poor selection, poor training, dissatisfaction over salary, unfair work lead super vision or lack of promotion possibilities.

The type of problem that initially emerges is generally associated features such as the output, the quality of work, lack of communication, co-ordination, co-operation, excessive, overtime, rising cost, staff dissatisfaction, if all these are not checked failure on the part of manager is bound to occur.

According to staff of Pohrer, Hibler and Peplogle in their managers for tomorrow (1975) says manager fail when they are unable to serve the needs of their business, regardless of the degree of knowledge skills they posses.

They further stated that there is a brief that managers know and what is expected of them, though it may not be written down. In practice, many managers are unclear about the result they must achieve and these doubts are a potent causes of personnel insecurity and conservation.

Another aspect, Argent John (1975) Management Technique looked organization, when no one (person) is not sure who their boss is clearly responsible for a mistake that have made, when there are frequent between executive and to the location of the boss between their duties.

PMAN’S and Anthony summarized in their textbook a Study of  entrepreneurship and development in Kenya (1975) say in Nigeria sufficient capital simply does not exist. The scarcity of private capital Banks, loan as well as government loans will for a long time a handicap to business advancement.

From Robert H. Trent and Thomas L. Wholden (1976) in textbook of Development in Management System reveal that inadequate management information data are inadequate, it is not being enough in terms of relevancy for setting objectives, for decisions and for measuring results against planned goals.

2.4 SUMMARY

The significance of this study is to know why some managers fail in business organization. The method we used to collect some necessary data or information includes the use of oral interview and question from these method the following were constructed out.

That is when the company are situated in appropriate place that managers failure will be reduced.

Managers should be framed to acquire managerial skill in order to handle their job effectively without failure. In this finding, researcher was convinced that intelligent, resourcefulness an important role in reducing managers failure the organization.

Mutual understanding is also very important between the managers and workers and this will make them to succeed in their business organization.

From the finding made, the researcher was to know that social and political factor if well controlled that managers will reduce failing in business.

It was also made known to the researcher, that if efforts are not made by the federal government to improve the network service of Nigeria. This will actually affects the managers adversely.

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