Abstract
This study examines management functions as the leeway to organizational efficacy. It argues that the key axis for understanding discretion is the trade-off between the positive effects of discretion on potential output per employee and the negative effects of greater leeway on work effort. Managerial efficiency evaluation is necessary for all organizations because its results allow actively influencing their current socio-economic status and promoting their development, determining the scale and course of changes, identifying the most important growth factors, tracing and correcting uncontrollable processes, making decisions about changes, as well as predicting their effects on key parameters and planning the future development of the organization and its subsidiaries. The study adopted survey research design for the study, the instrument of data collection was the questionnaire, analysis of the collected data was done with the aid of statistical package for social sciences (SPSS version 21). The study conclude that management efficacy is subject to the amount of freedom accorded to him/her in decision making.
TABLE OF CONTENT
Title page
Approval page
Dedication
Acknowledgment
Abstract
Table of content
CHAPTER ONE
1.0 INTRODUCTION
1.1 Background of the study
1.2 Statement of problem
1.3 Objective of the study
1.4 Research question
1.5 Research Hypotheses
1.6 Significance of the study
1.7 Scope and limitation of the study
1.8 Definition of terms
1.9 Organization of the study
CHAPETR TWO
2.0 LITERATURE REVIEW
CHAPETR THREE
3.0 Research methodology
3.1 sources of data collection
3.3 Population of the study
3.4 Sampling and sampling distribution
3.5 Validation of research instrument
3.6 Method of data analysis
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS AND INTERPRETATION
4.1 Introductions
4.2 Data analysis
CHAPTER FIVE
5.1 Introduction
5.2 Summary
5.3 Conclusion
5.4 Recommendation
Appendix
CHAPTER ONE
INTRODUCTION
1.1 Background of the study
There is no human endeavor that does not require proper management for its proper functioning. All types of organizations Service, Economic/ Business, Religious, Protective, Government, and Social organizations whether profit making or non – profit making require good management to function effectively Nickels et al (2011). Every organization is formed to achieve some purpose[s], which can be broadly described as satisfying the wants, needs, desires, or objectives of its members. Managing is one of the most important human activities that permeate all organizations. Whenever people work together for the attainment of a predetermined objective, there is a need for management that is charged with the responsibility of ensuring that the aims and objectives of the organization are realized. The difference in performance is often related to the strategy adopted by the management of an organization to achieve its objectives. The mission provides clear direction and goals that serve to define an appropriate course of action for the organization and its members. The ability to put these goals in place in organization tends to determine the firms success. Management function has been identified as an important dimension of corporate culture that influences organizational effectiveness (Gordon and DiTomaso 2012; Denison and Mishra 2015; Denison 2000). Globalization, information availability (speed and volume) and increased competitiveness have changed the way organizations function and respond. It exerts pressure on relationship between the leaders and followers. Managers in Nigerian banks do not focus properly on people management issues as they manage through the rules, systems and procedures. Consequently, unrealistic targets are set and effect on staff feelings and moral climate is often ignored. This results in increased resignations, poor customer services, unethical practices that lead to poor assets quality and loan losses, faulty recruitment and placement processes. Over the past decades, a great deal has been written about management function and the important role it plays in successful performance of organizations Calfee, 2017; David, 1989; Denison 1990; Daft 2003, Denison 2007, Zheng et al 2010). Whenever people work together, there is generally a need for coordination of efforts in order to attain expected results In reasonable time, and with minimum amount of money, discomfort or energy, and this is all what management is all about. All people who oversee the function of other people who must work in subordinate position are Managers. Managers are people who are primarily responsible for the achievement of organizational goals. Any organization that fails to realize its objective often blames it on management ; Denison and Mishra (2015). Management is responsible for piloting the affairs of the organization. The manager is the individual to provide the dynamic force or direction. He is the person in charge or expected to attain results. A manager is expected to possess special talents or abilities quite different from non-manager. Management and organizations go together hand in hand. The need for managers arises because organizations exist. As the 2 old song says, you can't have one without the other. Whether we are discussing the profitability of a business, the efficiency with which a city government is run, or the win loss record of our favorite football team, our attention usually centers on those who run the organization – in other words, the managers (Neilsen, 2012). Managers can be thought of as important resources. The crucial importance of management was recognized by a leading stockbroker who said, ‘Many experts view a company's management as the dominating element in evaluating the worth of the company.' It is generally agreed that organizations with effective managers will likely be successful, whereas organizations with poor managers will likely fail.
1.2 STATEMENT OF THE PROBLEM
The need for qualified and experienced managers in business organizations cannot be over emphasized. The quality of labor force and the accelerated pace of development taking place in Nigeria and in developing countries generally have accentuated the need for seasoned manager to pilot developmental efforts. In present day organizations, it is the manager that determines the appropriate technology required and the best way to efficiently and effectively utilizes all types of resources [physical and human]. Efficient and effective management is required to guide the execution of noble projects that are founding in the face of unskilled and ill-motivated labor force. Effective management is the key that will unlock the forces of economic growth and development in any organization or nation. Experiences collected over years has shown that development requires management and million of Naira are lost in Nigeria each year in the hands of managers who do not know even the elementary principles of management. Management as an art that can be learns. There is more to management than inborn decision making ability plus on-the job experience. Management is a topic about which much has been written. Which is why the researcher intends to examine the efficacy of management function as a leeway to organizations efficiency.
1.3 OBJECTIVE OF THE STUDY
The study has one main objective which is divided into general and specific objective, the general objective is to examine management function as a leeway to organizations efficacy, the specific objectives are;
- i) To examine the impact of management function in ensuring organizations efficacy
- ii) To examine if there is any significant relationship between management function and organizations effectiveness
iii) To ascertain the role of management in ensuring organizational profitability
- iv) To proffer suggested solutions to the identified problem
1.4 RESEARCH QUESTIONS
The following research questions were formulated by the researcher to aid the completion of the study
- i) Is there any impact of management function in ensuring organizational efficacy in Polaris bank?
- ii) Is there any significant relationship between management function and organizations effectiveness?
iii) Does management play any role in ensuring organizational profitability?
1.5 RESEARCH HYPOTHESES
The following research hypotheses were formulated by the researcher to aid the completion of the study;
H0: There is no significant relationship between management function and organizations effectiveness
H1: There is a significant relationship between management function and organizations effectiveness
1.6 SIGNIFICANCE OF THE STUDY
The importance of the study cannot be overemphasized. Organization cannot exist without management neither can management exists without organization. The two are inseparable. Good management weaves together the various parts of the organization so that all factors function as a united body. Management is essential to the continued operation of a business at a profit. Organization without managers will waste the efforts and energies of people and other resources in random activity. Management provides the mental effort behind efficient, profitable organizations. Management coordinates the several types of resources in an organization so that they work cooperatively. Effective management leads to purposeful, coordinated goal directed activity.
1.7 SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers management function as a leeway to organizational efficacy with emphasis on Polaris Bank PLC. But in the course of the study, there are some factors that limit the scope of the study;
- a) AVAILABILITY OF RESEARCH MATERIAL:
The research material available to the researcher is insufficient, thereby limiting the study.
- b) TIME:
The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
- c) FINANCE:
The finance available for the research work does not allow for wider coverage as resources are very limited as the researcher has other academic bills to cover.
1.8 OPERATIONAL DEFINITION OF TERMS
Leeway
The amount of freedom to move or act that is available, Leeway is the amount of drift motion to leeward of an object floating in the water caused by the component of the wind vector that is perpendicular to the object’s forward motion.
Management
Management is the administration of an organization, whether it is a business, a not-for-profit organization, or government body.
Management function
Management is a set of principles relating to the functions of planning, organizing, directing, and controlling, and the applications of these principles in harnessing physical, financial, human and informational resources efficiently and effectively to achieve organizational goals.
Efficacy
Efficacy is the ability to get a job done to a satisfactory degree. The word comes from the same roots as effectiveness, and it has often been used synonymously, although in pharmacology a distinction is now often made between efficacy and effectiveness
Organizational efficacy
Organizational efficacy is an aggregated judgment of an organization's members about their sense of collective skills, sense of mission or purpose, and sense of resilience.
1.9 ORGANIZATION OF THE STUDY
This research work is organized in five chapters, for easy understanding, as follows. Chapter one is concern with the introduction, which consist of the (background of the study), statement of the problem, objectives of the study, research questions, research hypotheses, significance of the study, scope of the study etc. Chapter two being the review of the related literature presents the theoretical framework, conceptual framework and other areas concerning the subject matter. Chapter three is a research methodology covers deals on the research design and methods adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.
