Full Project – Motivation as the key factor for higher productivity in Nigerian Industries
1.1 BACKGROUND OF THE STUDY
The word motivation comes from Latin word MOVERE, which means to move. It is a general term that refers to all those inner forces as desires, drives, or motives, wishes and so forth which kindle, direct and sustain behaviour towards a goal. To be able to motivate people, managers must do those things that satisfy these forces so as to induce individual to perform.
Over the years many psychologist and scholars have put forth several theories of motivation. Most of these theories have move people to contribute in various ways in bordening management understanding towards accomplishing goals and objectives. And many of the available theories of motivation (Douglas McGregor etc).
In an attempt to evaluate and break the complexity in the process of motivation has called for the study of “the impact of motivation a key factor for higher productivity” with Ecobank Owerri Imo State as a case study.
The Ecobank is a public limited liability company, was established as a bank holding company in 1985 under a private sector initiative spearheaded by the federation of West African Chambers of Commerce and Industry, with the support of the Economic Community of West African States (ECOWAS).
In the early 1980s, the banking industry in West Africa was dominated by foreign and state owned banks. There were hardly any Commercial Bank in West African private sector. ETI was founded with the objective of filling this vacuum.
The federation of West African Chambers of Commerce promoted and initiated a project for the creation of a private regional bank institution in West Africa. In 1984, Ecopromotions S. A. was incorporated. Its founding shareholders raised the seed capital for the feasibility studies and the promotional activities leading to the creation of ETI.
In October, 1985, ETI was incorporated with an authorized capital of US$100 million. The initial paid up capital of US$32 million was raised from over 1,500 individuals and institutions from West African countries. The largest shareholder was the ECOWAS. A headquarters’ agreement was signed with the government of Togo in 1985 which granted ETI the status of a non-resident financial.
ETI two specialized subsidiaries
Ecobank Development Corporation (EDC) and process international. EDC was incorporated with a broad mandate to develop ECOBANK’s investment banking and advisory business throughout the countries where ECOBANK operates.
EDC operates brokerage houses on all 3 stock exchanges in West Africa and has obtained licenses to operate on the two stock exchanges in Central Africa. The Douala Stock Exchange in Cameroon and the Libreville Exchange groups information technology function with a view of ultimately centralizing the groups middle and bank office operation to improve efficiency service standards and reduce costs.
1.2 STATEMENT OF THE PROBLEMS
Some of the problems observed in Ecobank Imo State are stated below. But for more understanding and clarity, we will summarize the major problems of motivation in Nigeria with more attention to Ecobank Imo State.
- The management inability to describe properly the task to be performed by the workers inadequate job description workers training before pushing them to the field to go and sell for the company.
- The worker in most cases suffers from low morale. This can be caused as a result of discovering for themselves the true position of thongs in the field due to the present economic and numerous sitting of workers people.
- There is increase rate of dishonesty and disobedience amongst the workers who are doing everything to survive the hard times.
- There is also the problem of the Second tier Foreign Exchange Market (SFEM) flexibility or rather variation in terms of the company importation of its roofing sheet (product).
- At times, it could be revealed that in one questionnaire the possible outcome of this problem can be traced to changes in the relation to (Price, Place, Product and Promotion).
1.3 OBJECTIVES OF THE STUDY
Since the time of twentieth century, the phenomenon of motivation has been the subject of considerable and extensive study of theorists and researches in a number of disciplines of this span of time, a number of distinct perspective or approaches has been favorable. The study has a broad objective of investigating the impact of motivation on workers performance in Ecobank Imo State. The specific objectives are stated as follows:
- To ascertain the various causes of low performance of the workers in Ecobank Plc Owerri.
- To determine the extent of the relationship between motivation and productivity.
- To ascertain the extent of relationship between job satisfaction, motivation and productivity.
1.4 RESEARCH QUESTION
- To what extent is the level of low performance of the workers in Ecobank Plc?
- To what extent is the relationship between job satisfaction, motivation and productivity?
- What are the causes of low productivity of the workers in Ecobank Plc Owerri?
1.5 SCOPE OF THE STUDY
The researcher is focused on motivation and its impact on performance. Sequel to this typical organization (Ecobank Plc in Owerri Imo State) has been selected for study since the study focuses mainly on workers profitability. The target population is workmen and workers manager.
This study will look at the sale job and some programmes on performance or measures designed to motivate the workers in a typical production and sale force, training the workers evaluating the performance of their supervision. Furthermore, formulating workers objectives and task and establishing workers structure and size.
1.6 SIGNIFICANCE OF THE STUDY
This study will be of great benefit to the staff and management of Ecobank Plc Owerri. Also it will be of benefit to both government and private business in Nigeria. The work will serve as a further research material to researchers.
1.7 LIMITATION OF THE STUDY
In the course of this study, the researcher encountered lots of constraint which includes:
- Time: There was no insufficient of time to carryout this research such a enough time
- Finance: Also great threats to this study because of this nature require large funds which could not be obtained.
- Academic Workload: Academic workload was another limitation of this research work due to the nature of our lecture from Monday to Friday which provides little time for student to go for the information needed for the research.
- Availability of Information: The major limitation to this study are access to necessary related information due to the organizational set upon employee want to be involved for the fears of queries from superior officers and maybe subsequent termination of the job.
1.8 DEFINITION OF TERMS
The terms used in this study which have unique meaning that could be subjected to this project report are defined as follows:
- Joint Consultant: It is a process or machinery set of motives for labour and management to sit together and iron out their problems or differences.
- Management: This is a set of group of people that occupies the high posts or problems in an organization. They controls and take decision concerning an enterprise or business in other to achieve the organizational goals or objectives effectively and efficiently.
- Organization: This could be defined as a social and economic entity in which different individuals perform a variety of functions in other to achieve their goals.
- Relation: It is the art of relating or interacting between a thing or people of relative quality or combination.
- Productivity: Productivity can be seen as t he ability of something, person or group to produce its designed effect or achieve its objectives effectively and efficiently.
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Full Project – Motivation as the key factor for higher productivity in Nigerian Industries