EFFECT OF ECONOMIC DEREGULATION ON SMALL SCALE BUSINESS IN NIGERIA (A CASE STUDY OF NIGERIA MICLYN TABLE WATER VENTURE AUCHI)

ABSTRACT

This research probed into the effect of economic deregulation on small scale business in Nigeria. For an economy to grow or develop, there are some measures to be taken in to consideration for effective accomplishment of the goal. This project discusses the effects, problems, and prospects of economic deregulation. In pursuance of this research, I showcased the steps to be taken in order to bring back the economy to a fulfilling standard. The objective of the study is to analyze the effects of economic deregulation as it affects small scale business in Nigeria. This study was limited to Auchi in Edo State. Data were generated for the study through questionnaires and interviews, analyzed and presented in frequency distribution table. Result shows that economic deregulation has a lot of effects on small scale business and therefore, government should pay adequate attention to it. It was recommended that regulatory authorities should ensure constant and strict regulations, of all the sectors of the economy.

TABLE OF CONTENTS

Title page

Certification ----   ---      ---      ---      ---      ---      ---      ---      ----     i
Dedication ----      ---      ---      ---      ---      ---      ---      ---      ----     ii
Acknowledgments ----    ---      ---      ---      ---      ---      ---      ---      iii

Table of Contents ----    ---      ---      ---      ---      ---      ---      ---      iv
Abstract ----         ---      ---      ---      ---      ---      ---      ---      ----     ---      vii

CHAPTER ONE: INTRODUCTION
1.1 Background to the Study ----      ---      ---      ---      ---      ---      1
1.2 Statement of the Problem  ----     ---      ---      ---      ---      ---      2
1.3 Research Questions ----     ---      ---      ---      ---      ---      ---      4

1.4 Objectives of the Study ----         ---      ---      ---      ---      ---      ---      5
1.5  Scope of the Study ---      ---      ---      ---      ---      ---      ---      6
1.6 Significance of the Study ---        ---      ---      ---      ---      ---      7
1.7 Limitations of the Study  ---        ---      ---      ---      ---      ---      ---      8
1.8 Operational Definition of Terms ---      ---      ---      ---      ---      8
CHAPTER TWO: LITERATURE REVIEW
2.1     Economic Characteristics of a Nation  ---   ---      ---      ---      10
2.2     Historical Background of Miclyn Table Water  ---         ---      ---      11
2.3     Economic Development ---      ---      ---      ---      ---      ---      12
2.4     Measure for Accelerating Economic Development ---    ---      16
2.5     Nigeria Enterprise Promotion Decree ---    ---      ---      ---      20

CHAPTER THREE: METHOD
3.1     Research Design ---        ---      ---      ---      ---      ---      ---      24
3.2     Population of the Study  ---     ---      ---      ---      ---      ---      24
3.3     Method of Data Analysis ---    ---      ---      ---      ---      ---      25

3.4     Source of Data --- ---      ---      ---      ---      ---      ---      ---      25
CHAPTER FOUR: DATA PRESENTATION ANALYSIS AND
DISCUSSION
4.1     Data Presentation ---      ---      ---      ---      ---      ---      ---      27
4.2     Data Analysis  --- ---      ---      ---      ---      ---      ---      ---      27
4.4     Interpretation ---  ---      ---      ---      ---      ---      ---      ---      31 
CHAPTER FIVE: SUMMARY, CONCLUSION AND
RECOMMENDATION
5.1     Summary ---         ---      ---      ---      ---      ---      ---      ---      ---      32
5.2     Conclusion ---      ---      ---      ---      ---      ---      ---      ---      32

5.3     Recommendations  ---    ---      ---      ---      ---      ---      ---      32

Reference

Appendix I

CHAPTER ONE

INTRODUCTION

1.1            Background to the Study

Decision making is a vital component of organization success. Decision that are based on a foundation of knowledge and sound reasoning can load the organization into long-term prosperity.

Decision making can simply be seen as the process whereby management dilemmas its objectives and selects among available alternatives which it believes will either procure the best outcome or attain the desired objective with the most economical utilization of resources. (Amo 2005), giving a close look of this definition one will observe that there are different and various courses of action, but the Decision makers is expected to choose just one from the different alternative that are available. This is what prompted the researcher to write on the topic “The Effect of Effective Decision Making On Organizational Efficiency” because many organization have in the previous year’s failed due to the fact that they were unable to take effective decision at that particular point in time and it is a well know fact that, without effective decision making an organization will not be efficient in its dealings.

The ethics of good business organization regime so that it will run into a state of panic when it comes to the period of decision making. Decision making. Decision making being one of the past measures used in making a business grow, then it is not working with the policies which objective when it is not working with the policies which are spell out by the organization or business owners.

Decision making plays vital roles in any business organization its impact s essential to the day-to-day activities of the organization which no doubt are profit oriented. The ability to make good decision by corporate citizens has enable people to build societies, organization and other social groups that made for continuous existence and better living.

However, most people fails to take decision effective a result of some problems hence, Decision making is a choice made response to certain needs or problems.

Decision are made in all stages of life from the public sector for the provide sector as so on. The administration of government policy and the implementation of public programmes are base Decision making. So the objectives of Decision making is to establish a common goals, giving of instruction, making of adjustment from the complain of people, keeping members to decide on event and policies, motivating and training are conditioned or determined by superiors abilities to decision of effective Decision making.

Decision making can be viewed as the means by which management get things done, it is the general sense of belonging of all units and personal identification within the organization. The ultimate objectively of Decision making is that Decision making seek to unit, coordinate and combine all undertakings, for instance, a superior may know how to decide the best way of doing it.

The researcher hope to achieve good conduct and effective Decision making in business organization and also to improve effective Decision making in business organization.

1.2            Statement of the Problems

Decision making is an important tool that helps the organization to achieve its goals and objective. However, organization usually have problems in Decision making that ultimately affect their organization’s strategies. In order words the types decision adopted by the organization are associated with some problem that could hindered organization efficiency. This is the gap in knowledge the research adopted to fill.

1.3            Research Questions

The following research questions directed the thrust of this study.

1.          Can decision without implementation result to business failure?

2.          Does effective Decision making affect the success of the business?

3.          Investigating if unplanned decision can cause great damage to business organization?

4.          Can effective decision brings about harmonious relationship in an organization?

1.4            Objective of the Study

The effect of improper Decision making, lack of implementation and follow up poses a great threat to both public and private sector to the economy.

1.     To outline and investigate the negative effect of not making the right decision in an organization.

2.     To critically outline the positive and negative effect of engaging in Decision making in an organization

3.     To examine how Decision making effective Decision making organization efficiency

1.5            Research Hypotheses

For the purpose of this study the following hypothesis which is in the null from still be tested.

1.                 Business organization does not require Decision making in it is management activities.

2.                 There is no adequate functions in the organization.

3.                 Management does not seek employees opinion before taking decision on issues that affect them.

1.6            Scope Of The Study

The area covered in the research work includes the following department with partners reference to First Bank Nigeria Plc, Auchi.

Human Resources Department if proper and effective decision is not been make in these department then it will not be possible for the organization to achieve it set objective.

1.7            Significance Of The Study

The significance  of this research work is to:

1.     The management of First Bank Nigeria Plc, Auchi would find the study useful in talking problems related to effective Decision making in their organization.

2.     Find out the role of effective Decision making in business organization

3.     This is also armed at helping the organization in improving their standard of Decision making.

4.      The purpose also is to help advance the knowledge  of the students in area for further research work in Decision making.

1.8            Limitations Of The Study

This research prospect was faced with several dainting problems, while some of them are basis; others were uncommon problems, such problems as lack of relevant materials at the polytechnic library associated with the apprehension of the respondents who considered some questions asked as invasion of their privacy. With these limiting problems set aside, it is expected that this project work will meet its objectives of reference for future researchers.

1.9            Operational Definition Of Terms

For easy understanding, the following terms as used in the research.

Decision Making: Cook and Humsaker (2001) define decision making as a process of “Selecting the best solution from among feasible alternative”.

Decision: Butle (1992) defines a decision as a “the selection of a proposed course of actions.

Management: Management is the process of identifying an interest area, artistically and scientifically pultona resources in an efficiently and effectively way towards achieving the desired target. (Imiavan, Okonofia and Olayode 2088).

Organization: Etzioni (1975) defines organization as a social units (or human groups) deliberation constructed or reconstructed to seek specific goal.

Researcher: This are the available human financial and technological asset that which the organization uses to achieve their set goals and objectives.

Effectiveness: This is the process of naturalizing the organizations goals and objectives comparing the goals and objective actualized with the set standard.

Efficiency: Is the total commitment to ones study and in the direction of actualizing the organization goals and objective.

Communication: According to Little (1978), defines communication as the process of which information is passed between individuals and organization by means of previously agreed symbols.

Information: Information is data that have been processed into a form which is meaningful to the recipient and which is of real interest to prospective decision and action.

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