FUW-International Journal of Management and Social Sciences
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CASH MANAGEMENT STRATEGIES AND SMEs SUSTAINABLE GROWTH IN NIGERIA
Get PDFThe need to ensure that SMEs build sustainable growth that translate in greater society benefit was the central reason for undertaking the need to explain the influence of cash management strategies on the sustainable growth of SMEs in Nigeria. The study adopted a descriptive survey design and a data set of two hundred and ninety-seven (297) questionnaires that were conveniently collected. The data was analysed using regression with the aid of SPSS. The findings indicates that cash management strategies affects the sustainable growth of SMEs in Nigeria. The study also concludes that cash budgeting as a cash management strategy is a strong determinate to the productivity of SMEs in FCT-Abuja. Also, the study concludes that cash control plays a major role in the sustainable growth of SMEs in the FCT. Lastly, the study concludes that the market share of SMEs has been largely impacted by the financial planning of SMEs. The study recommends that the need for SMEs to engage in cash budgeting as a sustainable medium of driving increased growth while also developing a cash control system that builds a sustainable structure would guarantee growth for the business and plan financially and build a system that is enduring and sustaining
EXCHANGE RATE VOLATILITY AND RETURN ON ASSETS OF DEPOSIT MONEY BANKS IN NIGERIA
Get PDFDeposit Money Banks (DMBs) in Nigeria provide the highest liquidity in the foreign exchange (Forex) market and account for almost all foreign exchange transactions. They also act as independent forex market participants (speculative or hedging operations) as well as act as intermediaries for their clients. In recent times, the Nigerian banking industry experienced a challenging fluctuation in foreign exchange rates which exposed Deposit Money Banks (DMBs) to foreign exchange risk resulting to instability in profit margin, expected future cash flows as well as significant losses. The objective of this study was to assess the impact of exchange rate volatility on return on asset of Deposit Money Banks (DMBs) in Nigeria for the period of 1999 to 2018. The study’s target population constituted all the 22 Deposit Money Banks (DMBs) operating in Nigeria as at 30th June, 2019. The study obtained data from secondary source which entailed data on the macro-economic environment facing the Deposit Money Banks (DMBs) and their financial performance/profitability records. In analysing the data, Unit root test, Co-integration and Autoregressive Distributed Lag (ARDL) were adopted in the study and it was found that exchange rate volatility has a significant positive effect on return on Assets of Deposit Money Banks (DMBs) in Nigeria. The Study recommended that government through the Central Bank of Nigeria should come up with effective measures and policies that will help control and stabilize the exchange rate between the naira and other foreign currencies
THE IMPACT OF CELEBRITY ENDORSEMENT ON CUSTOMER LOYALTY OF TELECOMMUNICATION INDUSTRIES IN NIGERIA
Get PDFThe study examined the impact of Financial Innovation (FI) on the growth of Small and Medium Scale Enterprises (SMEs): Evidence from the North-Central States, Nigeria. The purpose is to investigate how impactful the components of FI namely: Process Innovation (PrssI), Product Innovation (PrdtI), and Institutional Innovation (InsI) on the Opening up of New Markets (ONM). Data for the study were obtained primarily from responses to a questionnaire administered to 251 respondents made up of employees and owners of 10 SMEs each in Jos, Lokoja, and Lafia in the Plateau, Kogi, and the Nasarawa States respectively – North-Central States, Nigeria. Reliability of the measuring instrument was carried out using Cronbach's Alpha with each construct having an Alpha coefficient greater than 0.6. The Correlation Matrix result indicated that all the explanatory variables are positively associated with their coefficients less than 0.7 implying the absence of multicollinearity. Further, the regression results revealed that all the explanatory variables impact ONM. The combined impact of the explanatory variables stood at 56 percent approximately indicated by the coefficient of determination (R2 ) result. The study concluded by recommending the implementation of FI for SMEs in Nigeria as it can trigger their global competitiveness
Job Design and Organizational Citizenship Behaviour in Selected Financial Institutions in Makurdi Metropolis, Benue State
Get PDFThe purpose of this study was to examine the effect of job design on organizational citizenship behavior (OCB) in selected financial institutions in Makurdi metropolis. The study examined how job autonomy, skill variety, task identity, task significance, and job feedback affect organizational citizenship behavior. The survey research design was utilized in conducting the research. Meanwhile, 252 respondents from selected financial institutions in Makurdi metropolis participated, and 231 valid responses were received. Data were collected via questionnaires with the test of hypotheses done using multiple regression analysis, with the aid of Statistical Package for Social Sciences (SPSS 23). The results revealed that organizational citizenship behavior is significantly affected by job design attributes including autonomy, skill variety, job feedback and task significance. However, task identity had a negative but insignificant effect on OCB. It was recommended, among other things, that managers ensure that their employees have sufficient autonomy at work. Moreover, managers should ensure that employees receive appropriate and timely feedback about their performance
ASSESSMENT OF BARRIERS TO ENTREPRENEURIAL INNOVATION IN SOME SELECTED SMES IN BAUCHI METROPOLIS OF BAUCHI STATE: Issues, Challenges and the way forward
No full textGlobalization has threatened our local SMEs through competition influenced by innovation However, our local SMEs were constrained by barriers to innovation to face global business dynamics. This research aims to identify the level of exogeneous variers on SMEs innovation (NPD). To achieve this, a survey design was conducted in some selected registered SMEs under Bauchi Ministry of Commerce. A total sample size 172 was drawn from the population of 302 with the help of Taro-Yamani’s formula. Simple random sampling was used to choose the sample. Questionnaire was used as the research instrument, which was administered to 172 while 132 were filled and returned by the respondents. Data collected was subjected to descriptive statistic of mean and mode, to ascertain the barriers to SMEs innovation while non-parametric Kruskal-wallis test of significant difference was used to ascertain significant difference between the barriers to SMEs innovation. The result revealed that all the factors (High Cost, Market Factor, Government Policies and regulations and economic factors) were barriers to SMEs innovation, and significant test revealed no difference between the barriers. The researcher therefore, recommended that; Government should encourage SMEs owners/managers in using our local content and technology to cut cost, collaboration be enhanced between research institutes and our local SMES for knowledge sharing. Government expenditures be geared towards buying our local innovation and market be established for showcasing new products, and encourage citizens to patronize
TALENT MANAGEMENT AND EMPLOYEE RETENTION IN FEDERAL MEDICAL CENTRE KEFFI, NASARAWA STATE, NIGERIA
Get PDFExecutives of corporate organistions are beginning to realise the importance and economic benefits of retaining talented employees in their organizations. Part of this reason is the fact that talented and devoted employees are often an integral part of the organization. Talent management means that organisations have access to strategic planning with the best candidates with relevant expertise placed in the right place. This study examined the effect of talent management on employee retention in Federal Medical Centre, Keffi, Nasarawa State, Nigeria. This study adopted survey design with a sample size of 400 employees of the Centre. A five-point Likert-type scale questionnaire was used to elicit responses from them. The questionnaire was mailed to the respondents electronically on Google forms using WhatsApp and email addresses but only 357 usable copies were returned and analyzed using Partial least Square Structural Equation Model. Findings revealed that talent attraction has positive but insignificant effect on employee retention while talent development has positive and significant effect on employee retention at Federal Medical Centre, Keffi, Nigeria. This study recommended that Federal Medical Centre, Keffi, Nigeria should continue to develop talent of high performers for potential new roles, identify their knowledge gaps, and implement initiatives to enhance the competencies among its employees. On the otherhand this research contributes additional knowledge for human resource managers to identify whether there is an improvement in employee retention when implementing the right talent management practice in the organization
MANAGERS AND SUPERVISORS’ PERCEPTIONS OF PERFORMANCE OF PUBLIC ENTREPRISES IN NIGERIA – EVIDENCE FROM BENUE STATE
Get PDFThis paper examined the top Managers and Supervisors’ perceptions of the performance of public enterprises in Nigeria with evidence derived from Benue State, North Central Nigeria. The main objective was to evaluate preponderances of earlier scholar’s opinions around publicly owned organizations in Nigeria who viewed their performances from the exogenous perspective focusing on the external environmental factors. Hence, the main objective of this study is to evaluate the endogenous variables that play host to the operational performance of the firms as perceived by the internal operational management staff. A qualitative method was adopted using a phenomenological method of evaluation. The study found that, from internal opinions gauged from the Managers and Supervisors, the public enterprises in Nigeria are characterized by inadequate supply of energy to boost production capacity, low capacity utilization, poor regulatory framework, inappropriate constitution of Board members, mismanagement and lack internal control mechanism. The study recommends amongst other things deliberate and conscious effort on the part of government to properly form members of Board with professional skills to run such enterprises and ensure that resources are in the hands of skilled employees
ASSESSMENT OF BARRIERS TO ENTREPRENEURIAL INNOVATION IN SOME SELECTED SMES IN BAUCHI METROPOLIS OF BAUCHI STATE
Get PDFGlobalization has threatened our local SMEs through competition influenced by innovation However, our local SMEs were constrained by barriers to innovation to face global business dynamics. This research aims to identify the level of exogeneous variers on SMEs innovation (NPD). To achieve this, a survey design was conducted in some selected registered SMEs under Bauchi Ministry of Commerce. A total sample size 172 was drawn from the population of 302 with the help of Taro-Yamani’s formula. Simple random sampling was used to choose the sample. Questionnaire was used as the research instrument, which was administered to 172 while 132 were filled and returned by the respondents. Data collected was subjected to descriptive statistic of mean and mode, to ascertain the barriers to SMEs innovation while non-parametric Kruskal-wallis test of significant difference was used to ascertain significant difference between the barriers to SMEs innovation. The result revealed that all the factors (High Cost, Market Factor, Government Policies and regulations and economic factors) were barriers to SMEs innovation, and significant test revealed no difference between the barriers. The researcher therefore, recommended that; Government should encourage SMEs owners/managers in using our local content and technology to cut cost, collaboration be enhanced between research institutes and our local SMES for knowledge sharing. Government expenditures be geared towards buying our local innovation and market be established for showcasing new products, and encourage citizens to patronize
ASSESSMENT OF NIRSAL MICROFINANCE BANK COVID-19 LOAN IN NIGERIA
Get PDFoai:ojs2.fuw-ijmss.com.ng:article/1This study assess the impact of NIRSAL microfinance Bank Covid-19 loan in promoting growth and sustainability of SMEs in Nigeria from critical review of literatures in this area. The paper relied chiefly on secondary and partly on primary sources of data. The methodology employed for the study is the desk research approach. From the vivid analysis it is well-known that awareness was insufficient disfranchising many, accessibility to the portal for registration was a challenge there by disfranchising many intended applicants. This findings is consistent with the earlier researches conducted by other people. The study thus concluded that even though the objectives of the loan facility were undermined the loan facility has greatly impacted on the socio-economic well being of those who got it and that of their family members hence cushioning the adverse effects of Corona virus pandemic on small and medium scale enterprises. The study recommended; increase awareness, credibility in the disbursement process use of agent banking for effective and efficient disbursement and repayment and improved network for easy access to the online portal for application
Technological Advancement And Service Delivery: A Study of Small Scale Enterprises in Wukari Local Government Area of Taraba State, Nigeria
No full textThe major objective of this study is to establish a relationship between technological advancement and service delivery in small scale enterprises. Specifically, the study was designed to find out if relationship exists between technological advancement and service operation, uscertain the relationship between technological advancement and service experience, and identify the relationship between technological advancement and service outcome. The target population for this study was all small-scale enterprise owners and their workers in Wukari Local Government Area of Taraba State. The small-scale enterprises covered are the filling stations, hotels, supermarkets, GSA product service centers and their accessories sales outlets, welding and fabrications, vehicle mechanic and spare parts, hair dressers, borbing saloon, tailors and bakeries. There are about 35 clusters of the above outlined small scale enterprises and each has at least five workers, including the owner, giving a total population of 143. The sample size of 105 was determined from the population size using Turo Yamane. The implication is that, from each of the 35 clusters of small-scale enterprise. 3 people (i.e., the owner and 2 employees) were selected using simple random sampling technique and this gave a total sample size of 105. Data was collected using the questionnaire. The data were analyzed qualitatively and presented on simple percentages frequency tables. Findings show that: technological advancement has significant relationship with all the three drivers or indicators of service delivery employed in this study(service operation, service experience, and service outcome). Based on the finding of this study, the following recommendations were made: small scale enterprises should understand that technological advancement helps them effectively improve service delivery to customers (service operation), the customer's direct experience of tire service (service experience) and the benefits and results of the service for the customer or clients (service outcome). technological advancement helps them assess the henefits the customer perceives as inherent in the service weighed against the cost of the service. For the fact that innovation and technology are the key elements of sustainable economic growth in today's global economy, it is impossible to survive in such a tough competitive environment without making sufficient level of investments in technology und innovation