Effective Planning And Control As An Indispensable Tools For Bank Growth And Development (A Case Study Of United Bank For Africa)
1.1 Background of the Study
For any Organization to survive especially in a violate environment like ours. It must of necessity effective planning and control in its culture to realize its desired goal. If an organization fail to practice planning and control as a culture. Its bound to fail similarly, one who does not plans is also planning to fails any perspective we look at in life. It is all about planning and wholly working toward success with the aids of the laid down plant to achieve the desired goals.
Planning is said to be the first function of manager. It is the formal process of setting objective and determines the needs of accomplishing the predetermined objective.
Planning requires assessment of the organization of the organization strength and weakness through projections, fire casting about the future condition of the environment where the business operates planning leads to good performance.
Research has shown that successful firms plan and plan well (kootnz et al- 1986) creating posture and allocating duties and responsibilities among individuals within an organization implies that work decision about how an organization in area is being run control guides the activities towards predetermine goal.
It measure performance against standard with a view to enable corrective action to be taken to keep the plan on course.
Through control, the success of meeting the goals in an organization is judges and such goals are not met; corrective steps are taken or possible corrective solution.
1.2 Statement of the Study
This project stated the problems militating against the effective planning and control as an indispensable tools for Bank Growth and Development.
- It led to low productivity line-staff competition in Nigeria banking sectors.
- There will are inter-departmental conflict in the banking sector.
- It led to the organization and personal goal clash in Nigeria banks.
- Through insufficient planning and controlling. It led pressure placed on employee by the demands of the organization and stave holder.
1.3 Research Questions
The following research question which relate to the effective planning and control are mapped out:
- Do other factor such as remuneration and poor working environment result to poor productivity?
- Does the act of not defining responsibilities during the process of the planning and control result in staff competition among surbordinates even among surbordinates to superior.
- Could it be that how productivity results from failure on the part of management to identify opportunities and threat before making plans.
- Are there clash among per sued values and organization goals that could lead to poor productivity and what ways can this be properly managed so as not to affect the organizational negatively.
1.4 Objectives of the Study
The objectives of the study “the Effective planning and Control” As an indispensable tool for bank growth and development.
- To determine the importance of planning and controlling as an indispensable tool in banks.
- To determine the types of strategic needs to adopt in implementing its decision and show how to patronize her customers.
- To review the reasons why organization needs to plan so as to achieve its aim and objectives.
1.5 Significance of the Study
This research work will benefit in the following ways. After it has been able to provide answers to the research questions in relation on how productivity. It will help management to know how best to handle poor productivity. In their organization, it will also act as reference to managers.
This research work would give a better understanding of the term planning, control and high light their user in any organization. It will serve as reference to future researchers involved in similar issues.
1.6 Scope and Limitation of the Study
The research project examines how effective planning and control as an indispensable tool aids bank growth and development. It also identifies and examines banners that hinder banks plans and proper solution bank growth and development.
Furthermore, this project is restricted to banks growth and development since it deal with purely descriptive in native and concentrate on guarantee Trust Bank Plc Ilorin Branch.
This research has a lot of limitation due to time constraint, insufficiency of data, inadequacy of finds and other problems. The study can only be generated to guarantee trust bank plc branch all over the country.
1.7 Definition of Key Term
This can be defined as a predetermined course of action over a specific period of time. It can also be defined as deciding what to do, who to do it, how to do it and where to do it.
In this context of this project work, control is the power to make decision about how an area or an organization is being run.
It is the act of designing strategic and procedure which if faithfully implemented will bring about much desired development growth and increase welfare of the organization.
This is an increase in the resources of the organization (Man, Machine, Material and Method) which must be subjected to continuous strength, weakness, opportunity and a threat analyzing it includes the organization market share coverage and an appreciation of the stock.
1.8 Organization and Plan of the Study
The researcher work will be divided into five chapters and each chapters contains the following.
- Chapter one contain background of the study, Statement of the study, Statement of the study, research question, Objective of the study, Significance of the study, Scope of the study, Definition of key term, Organization and plan of the study.
- Chapter two discusses literature review, historical background, what is planning, types of planning, planning process, benefit of planning.
- Chapter three also contain research methodology, source of data collection, area of study, population, sampling, sampling techniques, validity of instrument, description of research instrument, research hypothesis, procedure for data analysis.
- Chapter four also deal with data presentation and analysis of data, data interpretation, test of hypothesis.
- Chapter five highlights Finding, summary, conclusion and recommendation.
5.1 Summary of the Major Findings
This chapter deals with the summary of major findings in which recommendation are made and conclusion draws too for bank growth and development.
Effective planning and control are the key factors to enhances organization achievement of high of productivity, not only planning and control result to high level of growth and development but provision fridges benefits, good remuneration and recognition are also needed.
Responsibilities should be spit but so as to enable every body to carry along which it turn will quicken the achievement of organization goals.
Finally, organization should establish meaningful and realizable objects this wold help in the growth and development of their organization.
Having thoroughly examine and analyzed the problem of effective planning and control the following recommendation are being suggested for the management of every prize to adopt.
Management of every enterprises should embark upon adequate research and uncertainties in their planned programmed.
Effective planning programs are formulated they should be implemented at the right time and have inbult control resources to monitor the plans.
Organization should practice the principle of management by objective (MBO) as this would include members total commitment to the achievement of organization goals.
Also effective communication should be adopted to accomplish effective planning and control for the attainment of suitable growth and development.
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