Value Added Service And Organizational Growth Using Correlation Method (A Case Study Of Cowbell Nigeria Plc)

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Value Added Service And Organizational Growth Using Correlation Method (A Case Study Of Cowbell Nigeria Plc)


Abstract


This study examinesvalue added service and organizational growth using correlation method. (a case study of Cowbell Nigeria Plc). Specifically, the study investigates whether value added services (value added services) influences organizational growth in the Cowbell Nigeria, cross-examines the difference between level of perceived customers’ patronage and brand loyalty among companies that practices value added services and organizations that do not practice value added services in the Cowbell Nigeria, and analyses how value added services adoption influences organizational performance and profitability. The study employs the survey descriptive research design. A total of 30 responses were validated from the survey. The study adoptsthe complexity theory. From the responses obtained and analysed, the findings reveals that value added services (value added services) influences organizational reputation in the Cowbell Nigeria. Furthermore, the findings revealed that there is a significant difference between level of perceived customers’ patronage and loyalty among companies that practices value added services and those that doesn’t in the Cowbell Nigeria. The study recommendsthat government should encourage international intervention on road safety for sustainable national development. The study further recommends that policy makers need to take a holistic approach in identifying and supporting the antecedents of value added services. The study further recommends that value added services can be stimulated by taking economic measures, investing in entrepreneurship and opportunity identification and, improving governance and education, health, safety and security, personal freedom and social capital holistically and simultaneously.


Chapter One


Introduction

1.1 Background of the Study

In today’s dynamic business environment, companies are faced with the need to positively impact the customer by taking on specific responsibilities to increase their value impact. Organizations have developed a set of strategies to address this interface between the needs of the company, the products, and the associated business needs in day-to-day business operations around the world.

Many organizations, such as banks and some manufacturing companies in Nigeria, are motivated by the need to generate more and more profits, which is the only goal of any business. To achieve this goal, some companies do not respond well to the needs of host communities, the well-being of employees (often cheap labor), environmental protection and community development. Research has shown that value-added services can increase the profitability, sustainability, integrity and reputation of any company that incorporates it into its policy.

Nkanga (2007) postulated that value-added services imply the obligation for businesses to contribute to the customer. The policy of introducing value-added services should not be motivated by higher profits. In Nigerian organizations, it is common to make the provision of value-added services one of their missions. Organizations need to understand that the specification of value-added services as part of their guiding principles involves stakeholders.


1.2 Problem Statement

Despite the recent emphasis on value-added services in Nigeria, manufacturing organizations are still a problem. Most organizations still see no reason for the acceptance of value-added services. Companies that have accepted and reluctantly accepted value-added services are doing so at a profit.

This study examines the problems and perspectives of customer services and their impact on organizational performance in Nigeria.


1.3 Purpose of the Study

The broad objective of this study is to examine how of value added services in the affect the business growth of cowbell Nigerian. Specifically, the study is designed to:

Investigate how value added services (value added services) influences organisational growth in the Cowbell Nigeria.

Cross-examine the difference between level of perceived customers’ patronage and brand loyalty among companies that practices value added services and organisations that do not practice value added services in the Cowbell Nigeria.

Analyse how value added services adoption influences organisational performance and profitability.


1.4 Significance of the Study

The importance of this dissertation is not just to analyse the practice of value added services but to understand the current practice, the level of understanding of value added services cowbell. The study aims to help the cowbell Nigeria take a comprehensive approach to customer service strategy. The study will also be of interest to research institutes and individual researchers interested in accounting standards and will use the results for further research. This study will encourage researchers to identify the effectiveness and efficiency of the customer services. The research will help individual companies understand their position relative to the customer service and business growth.


1.5 Study Hypothesis

To provide empirical answers to the research questions above, the following research hypothesis were developed. They are as stated below;

H01: Value added services (value added services) does not influence organisational reputation in the Cowbell Nigeria.

H02: There is no significant difference between level of perceived customers’ patronage and loyalty among companies that practices value added services and those that doesn’t in the Cowbell Nigeria.


1.6 Scope and Limitations of the Study

The study scope is limited to investigating the impact of international public sector accounting standard (IPSAS) in Nigeria public service in Lagos state civil service. Limitation faced by the research was limited time and financial constraint


1.7 Definition of Basic Terminologies

Performance:

Performance is the manner in which an organization functions, operates, or behaves in the society.

Stakeholder:

This study describes a stakeholder as a person or group with a direct interest, involvement, or investment in a business organization e.g. the employees, stockholders, and customers of a business organization.

Hypothesis:

Hypothesis is a tentative statement about relationships that exist between two or among many variables. It is a conjectural statement about relationships and need to be tested and subsequently accepted or rejected.

Theories and laws:

A hypothesis, if it is true, state a law. Therefore, the hypothesis is a law like a statement. Law is defined as a statement of invariant relationship among observable or measurable properties.


Chapter Five


Summary, Conclusions and Recommendations:

5.1 Introduction

This chapter summarizes the findings on the value added service and organizational growth using correlation method. The chapter consists of summary of the study, conclusions, and recommendations.


5.2 Summary of the Study

In this study, our focus was on value added service and organizational growth using correlation method. The study is was specifically carried out to investigate whether value added services (value added services) influences organizational growth in the Cowbell Nigeria, Cross-examine the difference between level of perceived customers’ patronage and brand loyalty among companies that practices value added services and organisations that do not practice value added services in the Cowbell Nigeria, and analyse how value added services adoption influences organisational performance and profitability.

The study adopted the survey research design and randomly enrolled participants in the study. A total of 30responses were validated from the enrolled participants who where all staff of of Cowbell Nigeria.


5.3 Conclusions

Based on the findings of this study, the researcher concluded that;

  1. Value added services (value added services) influences organisational reputation in the Cowbell Nigeria.
  2. There is a significant difference between level of perceived customers’ patronage and loyalty among companies that practices value added services and those that doesn’t in the Cowbell Nigeria.

5.4 Recommendations

Based on the findings of the study, the following recommendations are proffered.

  1. Policy makers need to take a holistic approach in identifying and supporting the antecedents of value added services.
  2. Value added services can be stimulated by taking economic measures, investing in entrepreneurship and opportunity identification and, improving governance and education, health, safety and security, personal freedom and social capital holistically and simultaneously.
  3. Marketing managers cannot think of their organisations in isolation from these macro antecedents as they monitor changing dynamic customer needs and wants, and position themselves in relation to competitors’ offerings. Improving value added services requires gathering and understanding market intelligence with regards to economic indicators, entrepreneurship opportunities, governance structures, education systems, health, safety and security measures, personal freedom and social capital, holistically.

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Frequently Asked Questions


What is the value added approach to calculating gross domestic product?

The Value-Added Approach to Calculating Gross Domestic Product. The total value added at all stages of production is what is then counted in gross domestic product, assuming of course that all stages occurred within the economy’s borders rather than in other economies.

What is the specific goal of a value added service?

The specific goal of a value-added service is to promote the primary business or core product and attract consumers, thus serving as an example of sales promotion tactic, as well as to define further the unique selling proposition or differentiation of the business or its brand and product, thereby serving as a part of promotion in marketing.

What are the advantages of the value-added approach?

The value-added approach is also helpful when dealing with goods where some inputs to production are not produced in the same time period as the final output. Since gross domestic product only counts production within the specified time period,…

Can after-sales services add value to the core product?

Note that the concept of value-added service can with after-sales services depending on its implementation. Nevertheless, different organizations have different ways to add value to their core product.

How do you calculate the value added approach to GDP?

It can be calculated in three different ways: the value–added approach (GDP = VOGS – IC), the income approach (GDP = W + R + i + P +IBT + D), and the expenditure approach (GDP = C + I + G + NX). What is value added approach? Value Added Approach To Gnp.

What is the meaning of gross value added GDP?

Gross value added is the output of the country less than the intermediate consumption, which is the difference between gross output and net output. Gross value added is related to GDP through taxes on products and subsidies on products. 1 what is value added GDP?

How do you calculate the value added of a country?

It can be calculated in three different ways: the value-added approach (GDP = VOGS – IC), the income approach (GDP = W + R + i + P +IBT + D), and the expenditure approach (GDP = C + I + G + NX).

What is the formula for calculating gross domestic product?

This GDP formula takes the total income generated by the goods and services produced. GDP = Total National Income + Sales Taxes + Depreciation + Net Foreign Factor Income Total National Income – the sum of all wages, rent, interest, and profits

What are the benefits of Value Added Services?

Value-added services allow businesses to provide more comprehensive benefits, which has become an essential tool in increasing customer satisfaction. Using these services is especially vital in operations based on customer trust. Supply chain and logistics is one of the most competitive sectors, and adding value can give your organization an edge.

What is the definition of Value Added Services?

The term “value added services” is used to refer to options that complement but a core service offering from a company but are not as vital, necessary or important. This term is used in many industries, most notably the telecommunications industry.

What are value added services in healthcare?

“Most value-added services are centered around one of two concepts — cost or convenience,” says Judi Grupp, president of ActiveCare Network, a provider of vaccine, injection, and infusion services throughout the United States.

What are the benefits of value added?

Adding value to a product or service helps companies attract more customers, which can boost revenue and profits. Value-added is effectively the difference between a product’s price to consumers and the cost of producing it.

What are the advantages of the value-added approach?

The value-added approach is also helpful when dealing with goods where some inputs to production are not produced in the same time period as the final output. Since gross domestic product only counts production within the specified time period,…

What are the advantages of market value added (MVA)?

Advantages of Market Value Added (MVA) 1 Makes companies more attractive to potential investors#N#Investors will always prefer companies with higher MVA because… 2 Boosts the survival chances of a company More …

What are the advantages of Economic Value Added (EVA)?

The following Some outstanding advantages of economic value added (EVA) below are: EVA may be a tool that helps to focus managers’ attention on the impact of their decisions in increasing shareholders’ wealth.

How to differentiate your core product offering through value additions?

The easiest and most effective solution is differentiation through product offerings. More specifically, you can enhance your core product offering through value-adds. As Investopedia explains it, “Value-added describes the enhancement a company gives its product or service before offering the product to customers.

Do you add value to your product or service?

The real issue, though, is that in today’s market place where so many products and services are viewed as a commodity, the ability to add value to your product or service is an absolute necessity. There is no doubt that in the absence of value-added components virtually any product or service can be driven down to the most bottom line – price.

What is an example of value added service?

Complementary freebies collectively represent a prime example of value-added service. These free products or services complement the functionality or usability of the primary product. Including freebies not only allow the sales of these complements but also enhances the sales value of the primary product.

How can you enhance your core product offering?

More specifically, you can enhance your core product offering through value-adds. As Investopedia explains it, “Value-added describes the enhancement a company gives its product or service before offering the product to customers. 

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