Stress And Coping Strategies Among Market Traders

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Stress And Coping Strategies Among Market Traders


Abstract


This study was carried out on the examination of stress and coping strategies among market traders using Dutse market, FCT, Abuja as a case study. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of market traders in Dutse market, Abuja. In determining the sample size, the researcher conveniently selected 220 respondents and 210 were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using mean scores. The result of the findings reveals that the causes of stress among market traders include; long working hours without break, pressure from customers, scarcity of suppliers, incompetency of subordinate, theft, and unfavorable economic order. The study also revealed that stress has numerable effect on market traders, among which are; mental breakdown, frequent headaches, increases depression, low productivity, disorganization, and excessive worry. Therefore, it is recommended that market traders should personally seek for strategies that works best for them in managing work place stress. And the service of a therapist should be employed in severe stress issues. Lastly, market traders should consider the following strategies for coping with stress; prioritizing work, divert thinking (do something fun), proactiveness, disregarding, networking, and regular exercise.


Chapter One


Introduction

1.1 Background of the Study

Work-related stress is an increasing concern across the globe, affecting not just individuals’ health and well-being, but also the business itself. Most work positions have factors that might induce stress in the individual. Stress not only affects individuals, but it also has an influence on their relationships with family, friends, and coworkers. It also has an influence on several aspects of society, such as socialization, and even the economy, due to how stress affects productivity.

Stress may be defined as a “imbalance between expectations and resources” or as “pressure that surpasses one’s perceived capacity to manage.” Stress management was established and is based on the theory that stress is not a direct reaction to a stressor, but rather that one’s resources and capacity to deal regulate the stress response and are changeable, enabling stress to be regulated and maintaining a good work-life balance (Deepthi A, Vinay B, & Gowramma Y 2019).Stress management refers to a broad range of approaches and psychotherapies aimed at reducing a person’s level of stress, particularly chronic stress, with the goal of enhancing daily functioning. Stress causes a variety of physical and mental symptoms that vary depending on the circumstances of each person. These may include deterioration in physical health as well as depression. One of the cornerstones to living a happy and successful life in contemporary society is stress management. Although life has several pressures that might be difficult to manage, stress management offers a variety of methods for managing anxiety and maintaining general well-being.

Specifically, market traders suffer stress more due to heavy activities, with unreasonable deadlines, which makes them to feel hurried, under pressure, and overwhelmed. Furthermore, heavy workloads make market traders loss control over business operations, thereby giving them the impression that their capabilities are underutilized. Consequently, creating a balance between work and life becomes uneasy, since both demands attention and energy. Emphasizing on this, Maxwell C. (2018) asserted that business owners only becomes healthier(emotionally and physically), when they correctly balance occupational and personal life.


1.2 Statement of the Problem

In recent years, there has been a plethora of literature examined the job stress among market traders (Boyd and Gumpert, 1983; Allison, 1997; Akande, 1994; Johnson, 1995; Harris et. al., 1999; Rauch et. al., 2007). Several researchers found that market traders are more likely to experience higher levels of stress due to their heavy workload as well as the assumption of risk in their business activities and operations (Dewe and Guest, 1990; Akende, 1994; Harris et. al., 1999). Many challenges in the current business environment, characterised by heightened competition, lack of time, lack of space, continuous technological development, conflicting demands from organisational stakeholders (Hall and Savery, 1986; Edwards, 1992), increased use of participatory management and computerisation (Murray and Forbes, 1986; Johnson, 1999), greater uncertainty and others factors have resulted in higher job stress. Furthermore, dealing and handling the entire business organisation, which entails managing the cash flow, recruiting and retrainingstaff, meeting the targets, dealing with the red tape and juggling the work or life balance leading to feelings of anxiety (Robertson, 2004; Rythonen and Strandvik, 2005).

There are also numerous other factors that contribute to the generation of stress such as economic changes in the environmental factors and responsibility for others (Johnson, 1995). However, the stress phenomenon does not only exist among new entrepreneurs/traders who just formed a start-up business but also affects those who own established firms that have been in business for up to 20 years operations (Robertson, 2004). According to Robertson (2004), the experience of stress among traders is much higher compared with other job occupations. This study therefore focuses on stress and coping strategies among market traders.


1.3 Objectives of the Study

Generally, the study aims at examining stress and coping strategies among market traders;

  1. Identify the causes of stress among market traders.
  2. Ascertain the effect of stress among market traders.
  3. Determine the strategies for coping with stress among market traders.

1.4 Research Question

The study will be guided by the following questions;

  1. What are the causes of stress among market traders?
  2. What is the effect of stress among market traders?
  3. What are the strategies for coping with stress among market traders?

1.5 Significance of the Study

The study will be significant to market traders, employee, owners of business organization and general public especially those in the workforce or entrepreneur. To business owners it will enlighten them on the need to review their employee description and probably draw up career plan for them. To employee and entrepreneurs, the study will expose them to stress management techniques that will enable them to maintain work-life balance. More so, this study will contribute to existing literature, serving as a reference material to both students and academia in related studies and creating opportunity for further studies in related field.


1.6 Scope of the Study

The study is focused on stress and coping strategies among market traders. The respondents will be obtained from Dutse market Abuja, Nigeria.


1.7 Limitation of the Study

Like in every human endeavour, the researcher encountered slight constraints while carrying out the study. Insufficient funds tend to impede the efficiency of the researcher in sourcing for the relevant materials, literature, or information and in the process of data collection, which is why the researcher resorted to a limited choice of sample size. More so, the researcher simultaneously engaged in this study with other academic work. As a result, the amount of time spent on research will be reduced.


1.8 Definition of Terms

Stress:

Stress is a feeling of emotional or physical tension. It can come from any event or thought that makes you feel frustrated, angry, or nervous.

Work Stress:

Job stress can be defined as the harmful physical and emotional responses that occur when the requirements of the job do not match the capabilities, resources, or needs of the worker. Job stress can lead to poor health and even injury.

Stress Management:

Stress management is a wide spectrum of techniques and psychotherapies aimed at controlling a person’s level of stress, especially chronic stress, usually for the purpose of and for the motive of improving everyday functioning.

Work-Life Balance:

Work-life balance is the state of equilibrium where a person equally prioritizes the demands of one’s career and the demands of one’s personal life. Some of the common reasons that lead to a poor work-life balance include: Increased responsibilities at work and Working longer hours.


Chapter Five


Summary, Conclusions and Recommendations:

5.1 Introduction

This chapter summarizes the examination of stress and coping strategies among market traders using Dutse market, FCT, Abuja as a case study. The chapter consists of summary of the study, conclusions, and recommendations.


5.2 Summary of the Study

In this study, our focus was on the examination of stress and coping strategies among market traders using Dutse market, FCT, Abuja as a case study. The study is was specifically set to; identify the causes of stress among market traders, ascertain the effect of stress among market traders, and determine the strategies for coping with stress among market traders.

The study adopted the survey research design and randomly enrolled participants in the study. A total of 210 responses were validated from the enrolled participants where all respondent are market traders in Dutse market, FCT, Abuja.


5.3 Conclusions

Based on the findings of the study, the researcher recommended that;

  1. The causes of stress among market traders include; long working hours without break, pressure from customers, scarcity of suppliers, incompetency of subordinate, theft, and unfavorable economic order.
  2. Stress has numerable effect on market traders, among which are; mental breakdown, frequent headaches, increases depression, low productivity, disorganization, and excessive worry.
  3. The applicable strategies for coping with stress among market traders include; prioritize work, divert thinking (do something fun), proactiveness, disregarding, networking, and regular exercise.

5.3 Recommendations

Based on the responses obtained, the researcher recommended that;

  1. Market traders should personally seek for strategies that works best for them in managing work place stress.
  2. The service of a therapist should be employed in severe stress issues.
  3. As stated above, market traders should consider the following strategies for coping with stress; prioritizing work, divert thinking (do something fun), proactiveness, disregarding, networking, and regular exercise.

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