ECOWAS AND ECONOMIC INTEGRATION IN WEST AFRICA (1975 – 1998)

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ABSTRACT

The purpose of this study is to assess the role of Economic Community of West African States (ECOWAS) in the Economic Integration of West African states between 1975 - 1998.

The project work is divided into five Chapters.

Chapter One deals with Introduction and Background Information to the study.

In Chapter Two, the Conceptual Framework and Theory of Cooperation and integration were examined.

Chapter Three highlighted the Financial/ Economic Cooperation and Integration, Treaties of integration, Conferences held, Decisions and their Implementation regarding integration.

Chapter Four focused on Political Integration in West African States.

Chapter five deals with the Summary, Conclusion and Recommendations of the study.

 

 

TABLE OF CONTENTS

      

Title                                                                                                                             i

Abstract                                                                                                                     v

Tables of Contents                                                                                                    vi

 

CHAPTER ONE

1.1       Introduction  and Background Information                                              1

1.2       Research Objectives                                                                                      5

1.3       Purpose of Study                                                                                          5

1.4       Scope/ Delimitation of Study                                                                      6

            Notes/ References                                                                                        7

 

CHAPTER TWO

Conceptual Framework and Theory Of Integration.                                             8

Notes/ References                                                                                                    14

 

CHAPTER THREE

3.1       Financial/ Economic Cooperation and integration                                   15

3.2       Treaties of Integration                                                                                  21

3.3       Conferences held Decision and their implementation regarding

integration                                                                                                     45

 

Notes and References                                                                                   49

 

CHAPTER FOUR

Political integration in West African States                                                           50

Notes and References                                                                                               55

 

CHAPTER FIVE

Summary, Conclusion and Recommendations

5.1       Summary                                                                                                       56

5.2       Conclusion                                                                                                     57

5.3       Recommendations                                                                                        59

Bibliography / References                                                                                        62

 

 

CHAPTER ONE

INTRODUCTION

 

 

1.1      BACKGROUND INFORMATION

Integration in the West African Sub- region has largely been, informed by the integration processes in Western Europe, Latin America, Asia and else where in Africa. . The main objectives of integration in these areas have generally been both economic and political . It has been economic where the immediate ore-occupation has been the promotion of better economic welfare or economic development whereas, it has been political where the ultimate concern is the political unity of the component states. The emergence of a Federal or confederal System is to cater better for the political and economic interests of the member states in a highly competitive global system The inevitability of political unity has been            underscored by the fact that economic integration has been a political process which requires the surrendering of the major national economic instruments to the supranational authority, also it involves the government of the member States as the major actors as far as the initiation and implementation of sub - regional policies are concerned.

The agenda of setting up the ECOWAS has been influenced by global trends. The birth of ECOWAS was in itself a response of member States to the challenges of globalization. On 28th May 1975 when ECOWAS was born in Lagos with the signing of the ECOWAS treat, the world was going     through a crisis in international economic relation manifested in the following areas:

1.        Falling living standards in developing countries.

2.        Over - dependence of the region on the advanced economies especially the metropolis

3.        The limited spaces for manoeurability by the individual developing countries on the international scene

4          A global system distorted by the bi-polarity divide into which developing countries are caught.

5          A cherished and yet abused principle of national Sovereignty and it linkage with national security and the inviolability of domestic jurisdiction

6.        An accompanying  paradox of sovereign equality of states and inequality       in the ability to act.

7          The realization by developing countries especially of Africa of the need for collective self reliance in     order to at least survive in the system and engage in it meaningfully.

It is against   this background that with the assistance of the limited Nations especially UNECA in Addis - Ababa, a rational framework was agreed i.e the creation of regional economic communities as means of collative self- reliance for sustainable socio - economic development, and as building blocks of an African Economic Community.

Thus the vision the founding fathers of ECOWAS was to   create a single regional economic space as a prelude to the continental one, through integration and Collective self - reliance,            an economic space with a single market and single currency capable of generating accelerated Socio - economic development and competing         more meaningfully in the global market of large trade blocs and uneven patterns of trade between the industrialized North and raw materials-based economics of the South.

By the mid - 1970s many West African Countries were already  in the threshold of economic difficulties in the aftermath of the global oil price shock of 1973. Many of the          countries in the Sub - region, apart from Nigeria which produces oil had serious problems of external balances.

There was need for increased foreign financial support it they were to be able to maintain a minimum level of imports to ensure  a steady           process of economic growth and development . Consequently at it formation, the ECOWAS held a lot of promises as one of the dynamic strategies through which economic under development could be surmounted and the all - pervading poverty in the Sub -region eliminated. This assumption was based on the unique size of the community which   has a population of about 150 million people. It was assumed that the large population       would serve not just as means for the mobilization of internal resources for industrialization but also as a powerful attraction for the inflow of foreign investment.

However, it has been observed that the ECOWAS has some other special features. It is an integration scheme which cuts across all colonial boundaries, encompassing the Anglophone, Francophone and lusophone countries of the Sub -region. There is no doubt therefore that ECOWAS since it inception in 1975, has contributed immensely in bringing West African governments enterprises organization and people closer to each other. There has been a general sense of development of cooperation and integration for mutual benefits.

The governments, and peoples of one member state have shown increasing interests in the welfare and progress of the government, organizations and people of another member State as a testimony to a gradual but Steady growing awareness of the necessity for inter dependent development . However while this has been an emerging feature in the Sub-region, it is also a common Knowledge that the very essence of integration has not, even after three decades of the operation of the Community manifested itself to our mutually        desired level of cooperation.

There can be no gain - saying the fact that the process of integration is complex and arduous. This is evident from the    cases of other integration arrangement among developed and developing­ countries such as the European Economics Community (EEC)       or the Caribbean Community (CARTCOM) where integration has occurred in gradual Stages.   The truth is that integration would only proceed where member states are prepared to make sacrifices on Several levels. The political leaders and other integrators in the Sub – region did undoubtedly make such Sacrifices and Commitments but these were inadequate during the first decade of operation of the community. It is now evident that renewed energies are required and new Path cultivated if a new lease of life was to be given to the Community for its optimal performance .

During the first two decades of integration, much  has been learned about the problems and techniques of regional integration among developing countries. In particular, the inherent limitations of orthodox customs unions and of measures for trade liberalization are now widely recognized . It is widely appreciated that effective regional integration demands not only such measures of negative integration but also what Timbergen (1965) terms measures of positive integration These   are measures designed to make an integrated market function effectively and promote broader policy objectives.

Although gaps in technical knowledge remain, if the knowledge gained from the integration experience of the past two decades is put to good use of which there are Signs - both established schemes          and those in the process of formation will stand a much improved chances of making their potential contribution to development policy.

Secondly, the political context may in some  respects have become more favourable. It is often suggested that in the         sphere of regional integration it Is not so much technical knowledge that has been lacking but the political will. During the last two decades, the emphases of policy in most African States has been on internal political Consolidation Although these internal pre-occupation have certainly not disappeared the balance may be shifting. In fact, this reflects the new importance attached to changing the international environment and to the attainment   of economic object-tives through political means. In fact, it simply reflects a more conventional reaction    to the impact of world divide recession.

Finally, there appears to be renewed recognition on the part of and agencies and donors of the role that integration is capable of playing, and of the need to provide support for regional projects, policies and perhaps institutions including the much needed development of transport      links, if that potential is to be realized.

This could result in regional integration projects.    

 

1.2      RESEARCH OBJECTIVES

Broadly, the objective of the study is to attempt an evaluation of ECOWAS integration in the West Africa Sub - region since its inception in 1975.

Specific objectives shall include the following to identify the nature and origin and the factors that precipitated the creation of ECOWAS .

To attempt and evaluate the performance of the role of member states in the formation of ECOWAS .

To elucidate the treaties that led to the creation of ECOWAS.

To appraise some problems that have inhibited the realization of total integration of member State and;

To make Suggestion that can help for proper and meaningful political and ECOWAS integration.

 

1.3      PURPOSE OF STUDY

A Considerable amount of interest and concern have been shown by many scholars and diplomats about the problems and prospects of the Political and Economic integration of the peoples of the West African Sub - region .

As a result of this, my concern therefore appear to stem from the fact that human and materials needed for the consistent and effective implementation of the programme of integration in the West African Sub - region .

It then becomes imperative to make a critical study of its implementation. It is therefore the purpose of this study to find out whether or not there objectives of the founding fathers of ECOWAS have be realized.

 

1.4      SCOPE/ DELIMITATION OF STUDY

To achieve the objective of this Study, the scope shall include:

·        A critical explanation and analysis of the general nature and importance of integration in the international System in general and in the African continent in particular.

·        A examination of the theory and conceptual frame of the ECOWAS integration and;

·        The relevance of political and economic integration in West Africa.

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  • Anonymous

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    ABSTRACT This study analyzed the effects of labour turnover on productivity in Nigerian Bottling Company Plc and 7up Bottling Company Plc, Aba, Nigeria. Specifically, the study determined the effect of workers retention (pay and allowance) on quantity of sales in Nigerian Bottling Company Plc and 7up Bottling Company Plc Aba; determined the effect of training of workers on profit in Nigerian Bottling Company Plc, and 7up Bottling Company Plc Aba; investigated the effect of promotion on output in Nigerian Bottling Company Plc, and 7up Bottling Company Plc, Aba; and determined the effect of skills of workers on customers satisfaction in Nigerian Bottling Company Plc, and 7up Bottling Company Plc, Aba. Primary and secondary data were used for the study. The secondary data covered between 2010 and 2019. A total of 345 respondents consisting of 190 respondents from Nigerian Bottling Company Plc and 155 respondents from 7up Bottling Company Plc were used for the study after retrieving the questionnaire. Also, a total of 345 customers consisting of 190 customers that patronizes the Nigerian Bottling Company Plc and 155 customers that patronizes the 7up Bottling Company Plc were used for the study. Data obtained were analyzed using simple regression technique and mean score. Pearson product moment correlation coefficient (r) and simple regression were used to test the various formulated hypotheses for the study. Findings shows that retention (pay and allowance) of workers has significant positive effect on quantity of sales in both Nigerian Bottling Company Plc and 7up Bottling Company Plc, Aba. Training of workers have significant positive effect on profit in both Nigerian Bottling Company Plc and 7up Bottling Company Plc, Aba. Promotion of workers have significant positive effect on output in both Nigerian Bottling Company Plc and 7up Bottling Company Plc, Aba. Skills of workers have significant positive effect on customers’ satisfaction in both Nigerian Bottling Company Plc and 7up Bottling Company Plc, Aba. The study recommends that efforts aimed at tackling labour turnover in Nigerian Bottling Company Plc and 7up Bottling Company Plc should focus more on developing the proficiency of workers through a need-identified training. Prompt promotion of workers and the use of other compensation incentives that should increase the willingness of employees to remain at work is strongly advocated. Many bottling industries such as the Nigerian Bottling Company Plc and 7up Bottling Company Plc, Aba require a formidable workforce to have a competitive edge amidst her competitors. CHAPTER 1 INTRODUCTION 1.1 BACKGROUND TO THE STUDY In today's global environment, each business must have a strong labour turnover avoidance policy in place to guarantee that the finest minds and well-experienced employees contributing to the organization's overall growth and development are kept. Employer turnover should be reduced as a result of this. This is because labour turnover is one element that may impact employee retention, organizational profit, production, and customer satisfaction with the organization's products and services in a positive or negative way. The sort of labour turnover prevention program that will encourage employees to perform well will be determined by how well it meets their needs for status, job security, and survival, as defined by Maslow's hierarchy of needs (1943 and 1954). Managerial and supervisory turnover has long been a key human relations issue, and its importance in any particular company cannot be overstated. Almost all employers of labour confront a big problem with labour turnover nowadays, all around the world (Barmase and Shukla, 2013). This is due to the fact that it creates a significant financial strain on businesses and has a negative impact on productivity. Labour turnover is a serious workplace problem that cannot be overlooked by any meaningful and target driven organisation. Organizations all around the globe must endeavor to regulate and reduce labour turnover since it has both economic and psychological implications on production. In terms of psychological consequences, labour turnover has been associated with a number of negative job attributes such as low level of job satisfaction, low esteem for promotion opportunities, mental stress on the part of management on how best to sort and replace exited experienced workers etc. As a result, when a person departs abruptly, it throws the entire organization's production strategy into disarray. This might have a significant impact on the organization's production and, as a result, its effectiveness. If the company provides a service, employee turnover may have an impact on the quality and/or quantity of service provided, especially if one person's output is the input of another (Blau, 2014). Hill and Twist (2015) define labor turnover as withdrawal behaviors that lead psychologists to believe that it is the result of unfavorable workplace attitudes affected by factors such as income, job security, recognition and appreciation, working hours, and physical conditions, among others. There are also psychological withdrawal behaviors such as a lack of creativity or putting in little effort on a work, which frequently show as laziness and an unwillingness to think and enhance creativity (Pinder, 2018). There is also an attempt to comprehend managerial turnover and determine why employees leave their jobs. Carbery, Garavan, Brien, and McDomel (2013) believe that, all other things being equal, management turnover is likely to be lower than operational turnover, which might be due to the fact that they are more devoted and have a stake in the company. Labour turnover also has the effect of impeding the attainment of larger corporate objectives since it necessitates a significant investment in training, induction, growth, and skills development to replace personnel who leave the company. Controlling labour turnover, on the other hand, is critical for businesses and must be handled well due to the impact it has on organizational productivity (Adewole, 2017). In Nigeria, the issue of labour turnover cannot be neglected by many firms operating in the country. This is because ineffective labour turnover management in any Nigerian organization would have a significant negative impact on not just that organization's performance and output, but also on the economy as a whole. For example, in the late 1980s and early 1990s, Nigeria experienced a turning point in her history when Nigerian universities lost a slew of well-trained teachers in what became known as the "Brain-drain." Perhaps the situation that occurred in our universities had an impact on some businesses, such as the Nigerian Bottling Company Plc. and the 7up Bottling Company Plc., where some of these academics serve as consultants. Terrible pay rates, a lack of advancement, a lack of sufficient training of trained and competent labour force, and a poor work environment may have all contributed to such a choice to quit a company (Adewole, 2017). This is likely to have an impact on the manufacturing line in terms of profit maximization. The situation hasn't altered much since then, and many businesses are calculating their losses (Orji, 2018). According to a Mercer report on the total financial impact of employee turnover, the cost of labour turnover is sometimes misunderstood, seen as incalculable, or disregarded as a minor expense, yet the total cost of labour turnover is considerable, accounting for 36 percent of payroll. The actual cost of employing someone to cover absentee employees is a significant but frequently ignored expense. In Nigeria bottling firm and 7up Bottling Company Plc. Aba, Nigeria, this is a typical practice in enterprises that leads to a certain level of turnover and its probable impacts on productivity. Organizational Productivity is defined as an organization's, institution's, or business's ability to achieve desired outcomes with the least amount of energy, time, money, staff, material, and so on. It is a measure of an organization's ability to meet its output targets via the use of its labour, authority strategies, machinery, equipment, and assets (Adewole, 2017). Productivity increase is crucial for organizations since delivering more goods and services to customers equates to better profitability. As productivity rises, an organization's resources may be converted into revenues, allowing it to pay stakeholders while reserving cash flows for future development and expansion. With increased productivity, an economy may create and consume more products and services for the same amount of effort. Individuals (workers and customers), company executives, and analysts all value productivity (such as policymakers and government statisticians). Labour turnover is inextricably linked to an organization's productivity and is frequently a sign of other issues confronting both the organization and its personnel. A variety of strategies have been proposed by management scholars in order to overcome high rates of labour turnover among employees and enhance employee retention. According to Ibrahim, Usman, and Bagudu (2013), employees who resigned their employment did so due to bad working circumstances that required them to execute their tasks. Poor working circumstances owing to physical factors may result in reduced productivity and general job unhappiness. Nigerian bottling firms, such as Nigerian Bottling Company (NBC) and 7up Bottling Company Plc. (7UP), are not immune to the effects of high labor turnover. The capacity of these businesses to fulfill rising demand for their goods and services is heavily reliant on the efficiency of their skilled employees, who assure optimal production, sales, and profit margins. Labour turnover, particularly among experienced employees, is a major and continuous issue that employers of labor in these organizations are concerned about. This is due to the high expense of finding a substitute for such high quality, which is sometimes difficult to come by. Most new employees are more prone to accidents since there are more breakages and they make more mistakes than experienced workers, resulting in the expense of replacing a man exceeding the recruiting projections by a significant margin (Stessin, 2011). When a company's labor turnover is a problem, management must identify the root reasons, monitor the turnover rate, calculate the cost of turnover, and solve the issue. Given the reality of unemployment and economic hardship in Nigeria, knowing the impact of labor turnover on productivity at Nigerian Bottling Company (NBC) and 7up Bottling Company Plc. is crucial. Such knowledge will aid these businesses in developing effective labor turnover prevention plans that will allow them to function sustainably and adequately satisfy consumer needs as well as corporate objectives. As a result, the purpose of this study was to examine in depth how labor turnover management affects organizational productivity of Nigerian Bottling Company (NBC) and 7up Bottling Company Plc in Aba, Nigeria. 1.2 STATEMENT OF THE PROBLEM Despite the fact that there appear to be no permanent solutions, attempts have been made to reduce the problem of labour turnover. Many individuals have left their jobs due to factors such as professional progress, more promising positions, and external incentives such as higher pay scales, promotion in other companies, and pleasant working circumstances. High labour turnover can have a negative influence on a company's production. However, because of the restricted resources available for staff recruiting, the negative impacts on firms might be extremely severe. Employees who are happy in their jobs are less likely to leave. High employee turnover is typically a sign of a longer-term issue, such as a lack of improved pay structures, training or career opportunities, or promotion, to name a few. Workers who are dissatisfied with their occupations are inclined to depart (Mobly, 2017). Mobly (2017) goes on to say that being dissatisfied with a job isn't the only reason why individuals switch jobs; it may also be because the talents and competencies they possess are in high demand. They may be enticed to leave for greater salary, perks, or career advancement opportunities. Because enterprises have little influence over what happens in other firms, they may take efforts to boost employee morale in the workplace, making people who work for them happy and productive. For companies like Nigerian Bottling Company Plc. and 7up Bottling Company Plc., employee turnover is a major issue. The high rate of labor turnover in bottling businesses, which has risen to about 15% in Nigerian Bottling Company Plc. in 2019 (NBC, 2019) and 22% in 7up Bottling Company Plc. in 2019 (NBC, 2019), is one of the issues that inspired this study (7up, 2019). It is important to remember that a high labour turnover rate reduces an organization's revenue and profitability through lowering productivity. Another issue is that labour turnover increases hiring costs and training expenses, which is especially problematic in organizations that need to replace individuals with specialized skills and a high educational level to fill complicated job responsibilities. Recruiting new employees to replace those who have left the company might be a positive start in the right direction. However, their ability to match the unique abilities necessary for complicated activities previously performed by top executives, as well as highly paid vocations, is subject to cost impacts, making their replacement extremely challenging for the organization. This is likely to have a noticeable impact on the productivity of the company. This is not to suggest that every employee who leaves a company is dissatisfied with their work. Some people will retire, leave town, or abandon their jobs due to family obligations, a desire to change careers, or even the urge to start their own business (Kiunsi,2014). In terms of labour turnover management, there is a knowledge vacuum and a point of departure for prior studies on labour turnover and organizational productivity. There is a knowledge gap in understanding the effect of worker retention (pay and allowance) on sales quantity, the effect of worker training on profit, the effect of promotion on output and effect of workers skills on customers satisfaction in Nigerian Bottling Company Plc. and 7up Bottling Company Plc. Aba. Against this backdrop, this research work investigates labour turnover management and organisational productivity of Nigerian Bottling Company Plc. and 7up Bottling Company Plc in Aba, Nigeria. 1.3 OBJECTIVES OF THE STUDY The major aim of this study is to analyze the effects of labour turnover on productivity in Nigerian Bottling Company Plc., and 7up Bottling Company Plc., Aba, Abia state, Nigeria. Specifically, the study sought to examine the following objectives: (1) determine the effect of workers retention (pay and allowance) on sales quantity in Nigerian Bottling Company Plc. and 7up Bottling Company Plc. Aba; (2) determine the effect of workers training on profit in Nigerian Bottling Company Plc., and 7up Bottling Company Plc. Aba; (3) investigate the effect of promotion on output in Nigerian Bottling Company Plc., and 7up Bottling Company Plc., Aba; (4) determine the effect of workers skills on customers’ satisfaction in Nigerian Bottling Company Plc., and 7up Bottling Company Plc., Aba. 1.4 RESEARCH QUESTIONS Based on the specific objectives, the following research questions were raised. 1) What effect has workers’ retention (pay and allowance) on sales quantity in Nigerian Bottling Company Plc. and 7up Bottling Company Plc. Aba? 2) What effect has workers training on profit in Nigerian Bottling Company Plc., and 7up Bottling Company Plc. Aba? 3) What effect has promotion of workers on output in Nigerian Bottling Company Plc., and 7up Bottling Company Plc., Aba? 4) What effect has workers skills on customers satisfaction in Nigerian Bottling Company Plc., and 7up Bottling Company Plc., Aba? 1.5 RESEARCH HYPOTHESES From the above research questions, the following null hypotheses were formulated to guide the study. H01: There is no significant effect of workers’ retention (pay and allowance) on sales quantity in Nigerian Bottling Company Plc. and 7up Bottling Company Plc. Aba. H02: There is no significant effect of workers training on profit in Nigerian Bottling Company Plc., and 7up Bottling Company Plc. Aba. H03: Promotion of workers does not significantly correlate with output in Nigerian Bottling Company Plc., and 7up Bottling Company Plc., Aba, Nigeria. H04: Workers skills have no significant effect on customers’ satisfaction in Nigerian Bottling Company Plc., and 7up Bottling Company Plc., Aba, Nigeria. 1.6 SIGNIFICANCE OF THE STUDY The significance of this study is divided into empirical and theoretical significance. Empirical significance: This research will serve as a resource for all organizational management, particularly the management and employees of Nigerian Bottling Company Plc. and 7Up Bottling Company Plc. in Aba, Nigeria, in understanding labour turnover management and organizational productivity. The research will assist both commercial and public organizations, including the government, in limiting their human resource capabilities by implementing methods to minimize labour turnover through worker retention, training, rapid promotion, and skill development. It would give important information to Nigerian businesses' management and staff on employee retention and limiting the negative influence of labour turnover on organizational productivity. Theoretical significance: This study has contributed to the current body of information on labour turnover and organizational productivity. This study will be useful to scholars and postgraduate students in the Departments of Industrial Relations and Personnel Management, Business Administration, and Entrepreneurship because it will serve as a reference material for future researchers on the effects of labour turnover on organizational productivity. It may also pique the interest of other academies in conducting more study on the reasons and constraints of labour turnover in a company. The study will also help the Nigerian public and people in other disciplines understand the impact of labour turnover on the productivity of Nigerian Bottling Company Plc. and 7Up Bottling Company Plc., Aba. 1.7 SCOPE OF THE STUDY The scope of the study is divided into unit scope, content scope, and geographical scope. Unit scope: This study is on individual level of analysis of selected bottling companies in Aba. Content scope: This study covers only labour turnover management on organizational productivity between 2010 and 2019. Geographical scope: This study covered the Nigerian Bottling Company Plc. and 7Up Bottling Company Plc., Aba, Nigeria. 1.8 LIMITATION OF THE STUDY The most significant restriction of the study is having access to the office since the setting was extremely limited for security reasons, and entry into the business was mostly by invitation. As a result, obtaining an invitation to share the questionnaire and conduct interviews was extremely difficult, and there were limits on the number of times the researcher was authorized to enter the offices where the necessary information was obtained. As a result, the researcher had to devote many months to data gathering during the research process. Furthermore, there was a constraint on the number of years of information the researcher could be given by the organisations, since the selected bottling businesses only granted the researcher access to ten (10) years of data on different labour turnover management indicators and organisational productivity. Another difficulty encountered in performing this study was the inability to express the dependent variable "productivity" as well as the independent variable "labour turnover" with appropriate indicators for each specific aim. For this study, it took the intervention of the supervisory committee to resort to quantity of sales, profit, output, and customer satisfaction as appropriate indicators of organisational productivity, as well as worker retention (pay, allowances), worker training, promotion, and worker skills as appropriate indicators of labour turnover management. Generally, eliciting the required information from the various issues of the annual reports of Nigerian Bottling Company Plc. and 7Up Bottling Company Plc., Aba were the major constraint encountered in completing the study. The researcher was put through rigorous methods of transforming existing information to fit the necessary variables for the investigation. 1.9 OPERATIONAL DEFINITION OF TERMS Labour turnover: - This is the overall change in the number of people employed in a business entity during a particular period. It takes into consideration the number of exiting personnel, new joinees and the total number of workers as listed in the payroll at the end of a given period. Productivity: - is a phenomenon, which is concerned with the utilization of resources to produce a given output, the resources could be labour materials and capital. Incentives: - Something, which encourages you to work harder, start new activities. Remuneration: - An amount of money paid to someone for work done. Promotion: - is the Vertical movement of employees in the organization to a position of higher authority. Profit: - This is the financial benefit realized when revenue generated from a given business activity or numerous business activities exceeds the expenses, cost and taxes involved in sustaining the business activity in question. It calculated as the naira difference between total revenue and total expenses Output: - This is the number of units of goods produced in a specific time period. The period could be monthly or yearly. Retention: Retention refers to employees’ abilities to not only absorb and retain training or specialized skills, but to apply the learned skills to their job. Worker/Employee retention: Refers to the ability of an organization to retain its employees Sales quantity: This is the number of units of goods sold in a specific time period. The period could be daily, weekly, monthly, quarterly, biannually or yearly. Consumer satisfaction: Consumer satisfaction is a term that measures how products or services supplied by a company meet or surpass a customers’ expectation. Customer satisfaction is important because it provides marketers and business owners with the metric that they can use to manage and improve their businesses as well as shows how productively relevant the organisation is to its business environment.   CHAPTER 2 REVIEW OF RELATED LITERATURE 2.1 CONCEPTUAL REVIEW 2.1.1 Labour turnover Labor turnover, also known as staffing turnover, is defined as the ratio of employees who leave a firm due to attrition, dism

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