Design And Implementation Of A Computerized Procedure For Privatization Of A Corporate Enterprise
(A Case Study Of Nitel Ltd Enugu)
A computerized procedure for privatizing a corporate enterprise involves the systematic utilization of digital technologies and algorithms to streamline and automate the privatization process. This approach integrates advanced software systems to facilitate various stages, including valuation, asset assessment, bidder registration, auction management, and post-privatization monitoring. By leveraging data analytics and machine learning algorithms, this computerized system enhances transparency, efficiency, and fairness in the privatization process. Additionally, it enables real-time tracking and analysis of key metrics, ensuring compliance with regulatory requirements and optimizing decision-making. Such technological innovation not only expedites the privatization process but also minimizes human error and reduces operational costs, thereby promoting a more equitable and competitive marketplace.
The focus on Privatization of Corporate enterprises is relatively recent in Nigeria. The prominence in economic programs of most developing countries since the 1980’s is due to the need to reduce Public sector deficits and financial losses arising from gross inefficiencies of the public Enterprises. Privatization attracts substantial amount of foreign investment inflows and new technological growth bringing about economic growth and reformation.
The effective implementation of privatization program of a Corporate Enterprise such as Nitel LTD requires a computer-based system.
This research work is aimed at designing and implementing an automated system that would eliminate some of the problem and draw backs associated with the manual procedures for the privatization of a corporate enterprise.
Title page
Certification
Acknowledgement
Abstract
Organization of work
Dedication
Table of contents
CHAPTER ONE
1.0 INTRODUCTION (Back ground of the study)
1.1 Statement of the problem
1.2 Aims and objectives of the study
1.3 Scope and delimitation
1.4 Purpose of study
1.5 Limitation of the study
1.6 Assumption
1.7 Definition of terms
CHAPTER TWO
LITERATURE REVIEW
CHAPTER THREE
3.0 DESCRIPTION AND ANALYSIS OF THE EXISTING SYSTEM
3.1 Fact finding method used
3.2 Organizational structure
3.3 Objective of the existing system
3.4 Input, process, output analysis
3.5 Information flow diagram
3.6 Problem of the existing system
3.7 Justification for the new system
CHAPTER FOUR
4.0 Design of the new system
4.1 output specification and design
4.2 Input specification and design
4.3 System requirement
4.4 System flow chart
CHAPTER FIVE
5.0 Implementation
5.1 Program flowchart
5.2 Pseudo codes
5.3 Source program
CHAPTER SIX
6.0 Documentation
CHAPTER SEVEN
Recommendation and conclusion
References
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
Privatization involves redefining the role of the government by having at disengage from those activities which are best handled by the private sector, with the overall objective of achieving economic efficiency, conceptually, the commercialization and privatization degree (FRN, 1988) perceive privatization as :-
“the transfer of government owned shareholding in designated enterprises to the private shareholders, comprising individuals and corporate bodies”.
The success of the program depends on a well-designed privatization strategy, which includes:
1. Defining the broad extent of privatization;
2. Stating clearly the political, economic and social objective to be achieved;
3. Establishing clear guidelines or criteria for evaluations
4. Selecting techniques;
5. Ensuring transparency and accountability in the privatization process and which competitive bidding to the fullest extent possible;
6. Building marketing up frost in each privatization operation in order to stimulate potential interest among investors and their to enhance the value of the public enterprise to be privatized.
7. Promoting employee participation in the privatization process through the allocation of a proportion of corporate shares;
8. Establishing procedure for monitoring the progress all results of privatization etc;
The above strategies cannot be achieved manually; many privatization programs have suffered from poor design, in adequate preparation, and weak implementation. This is clearly evidenced by the long average time its complete transaction. It is based on these drawbacks that the need for computerization arise.
The study will focus on the application of computerized procedures for privatization of a corporate enterprise using the Nigerian Telecommunications Limited (NITEL LTD) as a case study.
STATEMENTS OF THE PROBLEMS
Although the problems associated with the creation of corporate enterprise have not always been clearly stated. In spite of the bug’s investment in public enterprise in Nigeria, their senses could not meet the demand aspiration of the populace; the report of Onosode Presidential commission (1984) reveals that corporate enterprises are infested with some problems. In the case of NITEL LTD the following problems were obsessed in relation to the on going privatization exercise in the country.
i. Defective capital structure resulting in heavy dependency burden on national treasuring:
ii. Mismanagement of funds and operations;
iii. Misuse of monopoly power cumulating in corruption and lack of competition;
iv. Bureaucratize bottle necks within the organization;
v. Lack of transpierce in the on going privatization programme;
vi. Failure to entrench operational antonomy of the enterprise in such area as authority limit, tariff determination, procurement policy constitutes major areas of concern.
AIMS AND OBJECTIVES OF THE STUDY
The aims and objectives of the project work are:
i. To create a database for the storage of all information requirements for the privatization of the enterprise.
ii. To eliminate all the darn backs of manual techniques of data collection and record keeping into computerized system.
iii. Assist in the planning, designing and implementation of education and training programs for corporate groups.
iv. To provide organizational efficiency through computerization.
SCOPE AND DELIMITATION
The scope of the project emphasizes on the area of computerized procedures for the privatization of a corporate enterprises, computerized procedures in birlt to owning out a single activity at a time, that is the human activity of descending the most viable project among a giving set of attractive.
Therefore, the study will focus on the application of computer on the privatization of the Nigerian Telecommunications limited (NITEL LTD).
PURPOSE OF THE STUDY
My purpose is to design a database that will computerize the procedures used in privatizing a corporate enterprise. Secondly analyzing the current system to determine the objectives and detect the various impeachments in achieving them.
LIMITATION OF THE STUDY
The following are some factors, which are acting as an impeachment or constraints to the progress of the project work, these are;
a. Time: There is not enough time on the part of the researcher due to academic work.
b. Lack of Documented materials: It was difficult to start the project initially because reference materials at my disposal are limited.
c. Insufficient information from Nitel staff also pose as a constraint.
d. Financial constraint is another factors that limited the researcher in owning out this project effectively.
e. The likelihood of the privatization exercise not implemented due to corrupt practices by officials.
f. Lack of analyst: this also contributed as a constraint to the progress of the project. No one was there to analyze or to break the research into the simplest form to enable the researcher to carryout the work with ease.
ASSUMPTION
Due to insufficient information the following assumptions were considered:-
– The recording of the procedures for the privatization of NITEL LTD has not been computerized.
– The people that are going to use the software are computer literature.
– The hardware for the installation of the software has been acquired.
DEFINITION OF TERMS
This work will attempt to define some basic terminology and also explain various terms that will be used in this study.
Knowledge Base: Is a computer accessible collection of knowledge about a subject in a variety of forms, such as facts and rules of inference, frames and objects.
Privatization: Privatization can be defined as the systematic transfer of appropriate functions, activities or property from the public sector to the private sector, where services (Production and consumption) can be regulated more efficiently by the market and prince mechanism.
Investment: It may be defined, as the exchange of present resources could be liquid capital or assets for an uncertain amount of future resources.
Enterprises: Is the act of carrying out a daring plan.
Corporate: Is a group who the united and given the power by law to do business acting as one person.
Expert system (ES): An expert system is a specialized computer package that can perform the function of human expert.
Full Privatization: Means divestment by the federal government of all its functionaries’ exposures in the designated enterprises.
Partial Privatization: Means divestment by the federal government of part of its financial exposures in the designated enterprises.
Commercialization: Full commercialization means that enterprises so designated will be expected to operate profitably on a commercial basis and be able to raise funds from the capital market without government guarantee. Such enterprises are expected to use private sector procedures in the running of their businesses. Partial commercialization means that such enterprises so designated will be expected to generate enough revenue to cover their operating expenditures, the government may conceded giving them capital grants to finance their capital projects.
Strategic Investors: Can be described as formidable and experienced groups with the capabilities for adding value to an enterprise and making it operate profitably in the face of international competition.
Computerized Procedure For Privatization Of A Corporate Enterprise:
Privatization of a corporate enterprise is a complex process that involves transferring ownership and control of a government-owned or state-owned enterprise to private entities or individuals. While computerized procedures can streamline and automate various aspects of the privatization process, it’s important to note that the specific steps and requirements can vary widely depending on the country, industry, and the enterprise itself. Here is a general overview of how computerization can be applied to the privatization process:
- Pre-Privatization Planning:
- Data Collection: Gather comprehensive data about the enterprise, including financial statements, asset valuations, operational details, and legal documents. This data can be digitized and stored in a centralized database.
- Feasibility Studies: Use computerized models and simulations to assess the potential benefits and risks of privatization.
- Legal Framework:
- Regulatory Compliance: Develop a computerized system to ensure compliance with all relevant laws and regulations governing privatization.
- Document Management: Digitize and manage legal documents, contracts, and agreements related to the privatization process.
- Valuation:
- Asset Valuation: Utilize software and financial models to determine the fair market value of the enterprise’s assets and liabilities.
- Bid Evaluation: Automate the evaluation of bids from potential buyers or investors based on predefined criteria.
- Marketing and Investor Relations:
- Investor Database: Maintain a database of potential investors and bidders, along with their profiles and preferences.
- Marketing Materials: Use computerized tools to create and distribute marketing materials to attract potential investors.
- Bidding Process:
- Online Auctions: Conduct online auctions or electronic bidding processes to ensure transparency and efficiency.
- Bid Tracking: Automate bid tracking and notifications to participants.
- Due Diligence:
- Data Rooms: Create secure virtual data rooms to provide potential buyers access to relevant information while maintaining confidentiality.
- Negotiation and Agreement:
- Contract Management: Implement a computerized contract management system to facilitate negotiations and finalize agreements.
- Digital Signatures: Use e-signature solutions for contract signing and execution.
- Financial Transactions:
- Financial Platforms: Utilize electronic payment and banking systems for financial transactions related to the privatization.
- Post-Privatization Monitoring:
- Performance Tracking: Implement software for monitoring the performance of the privatized entity, ensuring compliance with agreed-upon terms.
- Reporting and Transparency:
- Automated Reporting: Generate automated reports on the progress of the privatization process, financial performance, and compliance.
- Transparency Portal: Create a computerized portal for stakeholders to access information related to the privatization process.
- Audit and Compliance:
- Audit Trail: Maintain a digital audit trail of all actions taken during the privatization process.
- Compliance Check: Use software to periodically check and ensure ongoing compliance with privatization agreements.
- Knowledge Management:
- Knowledge Base: Build a knowledge base or AI-powered system to store and retrieve information related to privatization for future reference.
- Security and Data Protection:
- Data Security: Implement robust cybersecurity measures to protect sensitive data throughout the privatization process.
It’s important to involve legal and financial experts in the privatization process, as well as to customize the computerized procedures to align with the specific requirements and regulations of the country and industry in question. Additionally, public transparency and stakeholder engagement are crucial aspects of privatization, and computerized systems should support these objectives while ensuring accountability and fairness in the process.