Effective Implementation Of Organizational Policies And Procedure In Business
(A Case Study Of First Bank Plc Enugu)
Implementing organizational policies and procedures in business is crucial for ensuring compliance, efficiency, and consistency across operations. A well-executed implementation strategy involves thorough planning, clear communication, and systematic execution. Firstly, it’s imperative to conduct a comprehensive assessment of existing policies, identifying areas for improvement or gaps that need addressing. Next, meticulous planning is essential to define objectives, allocate resources, and establish timelines for implementation. Communication plays a pivotal role in ensuring that all stakeholders understand the rationale behind the policies and their roles in adhering to them. Training programs should be developed to equip employees with the necessary skills and knowledge to comply with the new procedures effectively. Additionally, monitoring and evaluation mechanisms must be put in place to track progress, identify challenges, and make necessary adjustments. Continuous feedback loops allow for ongoing refinement and adaptation, fostering a culture of continuous improvement within the organization. By embracing a systematic approach to policy implementation, businesses can enhance operational effectiveness, mitigate risks, and uphold their commitment to regulatory compliance and best practices.
In all business enterprise, the role of effective implementation of organizational policies and performance is very important and can never be over emphasized and to achieve this goal, target and objective it is beckoned on the design of managers who do not sit there as a ceremonial heads rather they have role f implementing the organic functions of management in today’s dynamic and competitive business environment in Nigeria. This work in design to expose and aid the serious minded. Managers to be adequately equipped to face the challenges ahead as future management practitioners in business. And when adequate implementation of policies and procedures is not there business worldwide will be greatly affected.
In generally data needed to achieve the objective of the study. Cross – sectional survey was used. Questionnaire was used as the major instrument for primary data collection. The broaden the researchers’ depth of knowledge in the study area, the research embark on review of related literatures with data down from secondary source. Data generated in the study was presented on frequency tables and analysed using simple percentages while the hypothesis were tested with Z test.
It was found at the end of the research work that most organizations cannot get the best out their workers or reach to their option goal, target and objectives because of poor implementation of organizational policies and procedures in Nigeria business, workers are not allowed to join in decision making that concern them.
From the findings existence of these policies and procedures in one thing, awareness and utilization, implementation on the part of the employees becomes another thing and if not taken care of it will greatly affect the whole thing as far as business is concern. Some of the policies and procedures are not in time with present technology, may of the branches are still manual at this time, when war is survival of the fittest in the banking industry. Changes in technology, necessitate changes in policies.
Finally, effective organizational policies and procedure must be more sensitive to customer and also in order to up grade the workforce with exquisite training and motivation so as to reunion a winner or achieve a set objective which is the main target.
Title page
Dedication
Acknowledgement
Table of content
List of tables
List of figures
Abstract
CHAPTER ONE
1.1 General Background of the study
1.2 Statement of the problem
1.3 Purpose of the study
1.4 Scope of the study
1.5 Limitations
1.6 Research questions
1.7 Research hypothesis
1.8 Significance of the study
1.9 Definition of terms
CHAPTER TWO
Literature review
2.1 Definition of business
2.2 Organization as a concept in Nigeria Business
2.3 Effective implementation of organizational policies and procedures in Nigeria Business
2.4 Definition of policy
2.5 Sources of policy in Business
2.6 Characteristics of a good organizational policy business
2.7 Functions of organizational policy business
2.8 Criticisms of organizational policies
2.9 Definition of business in Nigeria
2.10 Effective implementation of organization function
2.10.1 Planning
2.10.2 Organizing
2.10.3 Motivation
2.10.4 Controlling
2.11 Effective control of organizational policies
2.12 Profile of First Bank of Nigeria Plc
2.13 The managerial structure of FBN PLc
2.14 Banking in Nigeria
2.15 Effective functions of Bank Generally
2.15.1 The Central Bank
2.15.2 The Commercial bank
2.15.3 The Development Bank
2.15.4 The Merchant Bank
CHAPTER THREE
Research Design
3.1 Area of the study
3.2 Population of the study
3.3 The sample size and it’s determination
3.4 Instrument of data collection
3.4.1 Primary instrument
3.4.2 Secondary instrument
3.5 Validation of the instrument
3.6 Reliability of the instrument
3.7 Method of data collection
3.8 Method of data presentation and analysis
CHAPTER FOUR
Data Presentation & Analysis
4.1 Presentation and Analysis of data collected
4.2 Testing of hypothesis
4.3 Summary of results
CHAPTER FIVE
5.0 Discussion of findings, Recommendation and Conclusion
5.1 Discussion of Result / Findings
5.2 Implication of Research findings
5.3 Suggestions for further research
References
GENERAL BACKGROUND OF THE STUDY
Effective implementation of organizational policies and procedure in Nigeria business encourages delegation of decision-making to business managers who do not sit there just as a ceremonial heads rather, they have role of implementation the organic functions of management in today’s dynamic and competitive business environment in Nigeria. This research work is designed to expose and aid the serious minded managers to be adequately equipped to face the challenges ahead as future management practitioners in business.
Good policies provides definite and clear direction by top management and at the same time allow subordinates to make their decision with clearly stated limits. The usual sources of policies and procedures in Nigeria business is embedded on managers and it is pertinent to note that for a business to retain it’s position as a growing concern” entity, it is imperative that managers formulate policies, plan and strategies and also implement those plan effectively for the continued growth and survival of the business enterprise. This is a major aspect of a task facing managers especially in modern complex business situation. Therefore, today’s managers must take into consideration the following measures for effective implementation of organizational policies and procedure in Nigeria business.
They must specifically take into account the forces and trends such as environmental, economic, political, sociological, psychological, technology, legal and ethnical factors while formulating the policies that can facilitate the accomplishment of the over all objectives and goals of the business in questions. Of course, if a policy has been formulated but has not been carried out or implemented into action, it cannot be effective since it has not come to the attention of the employees, but it runs the risk of being over looked or misinterpreted, but according to, Akpala 1990, he said that written policies are more precise and less prove to misunderstanding.
For effective implementation of organizational policies and procedures in Nigeria business to be properly executed the laid down rules guiding the organization must fellow.
Procedure on the other hand can be stated as the system that describes in details the action to be taken to accomplish a set objective in business which is the main target that leads to effective implementation of policies and procedures emphasis more in details while policies concentrate on the basic general approaches. A policy in therefore a guide for making decision. Thus, according to Akpada, he simply defined policy as guidelines to managerial actions, while Coventry and Baker (1985), defines policies as guideline laid down in general or specific terms to make organizations to reach the expected target or objectives.
1.2 STATEMENT OF THE PROBLEM
The phenomenon of not according manpower development the appropriate and regular training, and provision of desired incentives such as paying appreciably for overtime, outside duties, and other allowances as designated will certainly affect the performance of employees in the course of implementing organizational policies and procedures in Nigeria business. Alluded to that is irregular payment of salary and promotions, and considering the workers as human beings and not as machines will definitely constitute friction in implementing those policies needed for effective business environment and adversely effect standards.
1.3 PURPOSE OF THE STUDY
This study will seek to identify the implications of freedom of action and the operating level on effective implementation of the organizational policies and procedures in Nigeria business.
Our case study will be First Bank of Nigeria Plc, which is a nation-wide bank including rural branches. We shall measure implementation or control effectives existing in the bank with respect to certain principles and safeguards which must be incorporated in any control system as far as business in Nigeria are concerned. Viz:
• To identify whether the system have objectives which are realistic and well designed procedures;
• To ascertain of the system have a sound organizational structure and well designed procedures;
• To find out if each manager in the organization is given an opportunity to contribution towards the formulation of policies for which, he will be held accountability and,
• To determine, if he is given and feedback to let him assess his actual performance with reference to progress of business operations.
1.4 SCOPE OF THE STUDY
In a nutshell, the coverage of this study deals with the impact of organizational policies and procedures in Nigeria business with First Bank Nigeria Plc as case study. The research will examine the operations of the bank considering the services rendered and it’s cost effectiveness. The infrastructure development and it’s level of growth towards today’s dynamic and competitive business environment will be ascertained.
Lastly, in the course of this research work, the human resources development meeting up with modern complex business climate.
1.5 LIMITATIONS
Sequel to time factor and financial constraints, the researcher restrict the study to First Bank Nigeria Plc within Enugu metropolis and selected branches within the state. The researcher was limited only to the operational services of the bank because of the above reasons.
1.6 RESEARCH QUESTION
The research questions for this study are as follow:
(1) What influence has the effective implementation of organizational policies and procedure in Nigeria business on improving the services of Firs Bank Nigeria Plc?
(2) How has it increased the volume of deposits in the Bank?
(3) Has it reduced the cost of services in the Bank?
(4) How as it helped in today’s environment?
(5) What impact has it had an managers especially in a modern complex business situation and on their subordinates?
1.7 RESEARCH HYPOTHESIS
Ho: All cadres of workers in FBN Plc are not involved in effective implementation of organizational policies and procedures in Nigeria businesses.
HI: All cadres of workers in FBN Plc are not involved in effective implementation of organizational policies in Nigeria businesses.
1.8 SIGNIFICANCE OF THE STUDY
The effective implementation of organizational policies and procedures in Nigeria business should help effective managers to maintain or reach a set objective in the business world. The study is very timely, especially today that all hands are on deck to enhance business in Nigeria because of the dynamic and competitive business environment. We are in and as such, this research work is designed to expose and aid the services minded managers ahead as future management practitioners in business.
For effective implementation of organization policies and procedures in Nigeria business ie:
(a) Effective strategic planning
(b) Effective management
(c) Operational control
Effective implementation of policies in business is the process by which managers makes sure that resources are obtained since the expected rules and regulations are implemented and executed, there’s no way the required resource without be obtained.
It is necessary to work according to organizational policies in business ventures so as not to go contrary which man affect the business rather the business will attain its equilibrium point.
1.9 DEFINITION OF TERMS
Assess……………………. Weigh and appraise
Regulate ………………. To adjust, to return, to predetermine course
Performance…………. the act of doing work
Result ……………….. The outcome of performance
Procedures…………… The way work is done
Efficiency …………… Resource inputs into a process to produce the optimum amount of output
Effectiveness………… Resource used to achieve the desired ends
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Effective Implementation Of Organizational Policies And Procedure In Business:
Effectively implementing organizational policies and procedures is crucial for maintaining consistency, compliance, and operational efficiency within a business. Here are steps to ensure their successful implementation:
- Clear Documentation: Ensure that all policies and procedures are thoroughly documented. Use clear and concise language, avoiding jargon, to make them easily understandable by all employees.
- Communication: Regularly communicate policies and procedures to all employees. This can be done through orientation sessions, training programs, employee handbooks, and internal communication platforms.
- Training and Education: Provide comprehensive training to employees regarding the policies and procedures. This helps them understand the rationale behind each policy and how to implement them effectively in their daily tasks.
- Customization: Tailor policies and procedures to match the specific needs and nature of your business. Generic policies may not effectively address the unique challenges your business faces.
- Top-Down Approach: Leadership and management must actively support and adhere to the policies themselves. This sets a positive example for employees and reinforces the importance of compliance.
- Accountability: Clearly define roles and responsibilities for policy implementation. Assign specific individuals or teams to oversee the enforcement of each policy.
- Monitoring and Review: Regularly review and update policies and procedures to ensure they remain relevant and aligned with the changing business landscape. Solicit feedback from employees to identify areas for improvement.
- Consistent Enforcement: Treat policy violations consistently across the organization. This demonstrates fairness and prevents perceptions of favoritism.
- Feedback Loop: Establish a mechanism for employees to provide feedback on policies and procedures. This helps identify potential issues and allows for continuous improvement.
- Adaptability: Be open to making adjustments if a policy isn’t working as intended. Sometimes, unforeseen circumstances may require flexibility in policy implementation.
- Technology and Automation: Use technology to streamline policy implementation. Digital platforms can help distribute, track, and update policies efficiently.
- Reward and Recognition: Recognize and reward employees who consistently adhere to policies. This can foster a culture of compliance and responsible behavior.
- Conflict Resolution: Develop a process for resolving conflicts or misunderstandings that may arise due to policy implementation. Encourage open communication to address concerns promptly.
- Ethical Considerations: Ensure that policies and procedures align with ethical standards. Employees are more likely to embrace policies that reflect the organization’s commitment to ethical behavior.
- External Compliance: If your business operates in regulated industries, ensure that your policies and procedures are in compliance with legal requirements and industry regulations.
- Cultural Considerations: Consider the cultural diversity within your organization. Policies should respect and accommodate different cultural perspectives.
- Transparency: Be transparent about the reasons behind implementing specific policies. When employees understand the purpose, they are more likely to support them.
- Continuous Improvement: Treat policy implementation as an ongoing process. Regularly assess the effectiveness of policies and make adjustments as needed.
Remember that successful policy implementation requires a combination of communication, training, leadership commitment, and ongoing evaluation. It’s a dynamic process that supports the overall functioning and growth of your business.