Full Project – The impact of business policies on organizational performance

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CHAPTER ONE

INTRODUCTION

1.1  BACKGROUND OF THE STUDY

Every business has a set of objectives which it sets out to achieve. These objectives are stated or defined in their policy or mission statement ensures that all procedures, operations and activities and transactions of the business conform to established policies.

For effective performance, standard operational performance procedures must be followed and this apparently defines performance. The boundary within which decision can be made in other decision provides help for decision in other situation, it is said to be a policy decision because it sets procedure and provides a guide. Thus, an important characteristic of a policy is that it provides a guide and a reference point for decision making by subordinates. A clear policy encourages the delegation of decision making authority by subordinates. Incorporate business a number of important issues require or call for top management decision. These decisions will define the fundamental business policies which arises from the objectives set to be achieved and are related to the functional areas. Those areas are procurement, production, marketing, finance, personnel, research and development (Harision, 1994)

Top management (board of directors) have to guide principles and actions to tower management in these functional areas. For instance, there should be guiding principles, on how and where raw materials should be cured, what to produce and production techniques to be adopted (including pricing in order to be included in the method financing as well as research and development. Management expert believe that organizational performance to a large extent depends on how effective decision taken on their function areas are and judiciously these decision are implemented as business policies. Performance indication includes market share, sales volume, product quality and customer satisfaction, level of profit, growth rate etc. business policy affects these variables above.  Apparently, many business organizations have guiding principles, decision and activities of enterprises were arbitrarily taken and carried out. Today, it has become obvious that business activities have to be conducted within to frame work of guiding principles of the organization should perform efficiently and effectively implemented business policies could hamper performance of the organization. It is ago this background that this study is set to examine the impact of business policies on organization performance.

1.2  STATEMENT OF PROBLEMS

Many business organizations do not clear defined business policies regarding procurement and marketing etc. and such business apparently may not achieve their objective, lack of defined policies which are implemented can hardly lead to the realization of desirable objectives. This may have affected performance adversely. Furthermore, a times the policies are formulated without the input of those who will implement this causes haphazard implementation and even more implementation in extreme case finally some of the policies are either frustrating or two simple for the workers. These problems necessitated this study and it specifies the statement of the problem:

1. It reduce a clear source to an aspiring executive.
2. Lack of policy.
3. It affect health conditions.
4. They neglect the ethical principles that ought to be govern.

1.3  OBJECTIVES OF THE STUDY

The main objective of this study is to determine the impact of business policies in organizational performance.

The specific objectives are:

• To determine how policy affects attainment of objectives.
• To find out the relationship between employee in the organization
• To determine process involved policies of organization
• To ascertain the factors that militate against organizational policies

1.4  RESEARCH QUESTIONS

The following research question will guide this study:

1. How does policy affect attainment of objective?
2. How does policy affect employees of an organization?
3. What are the processes involved organization policies?
4. What factors militate against policies organization?

1.5 RESEARCH HYPOTHESES

The following research hypothesis were formulated for this study

HYPOTHESES ONE

Ho¹: Organizational policy does not have significant relationship with attainment of objectives.

H₁¹: Organizational policy has significant relationship with attainment of objectives.

HYPOTHESES TWO

HO²: organizational policy does not have significant effect on the employee behaviour.

H₁²: Organizational policy has significant on the employee behaviour.

1.6  SIGNIFICANCE OF THE STUDY

The study is significant because of its useful in many aspects. Firstly, many private and public sector enterprise have been reforming poor inspite of the existing business policies. It will therefore be expedient policies as will be shown in this study. The mass policy can be formulated while the research findings and recommendation will show how that can also be implemented for good reports. Secondly, management of business organization will also see the need for reviewing their business conditions. Review of policies will ensure that critical decisions are taken to supplant existing ones if it is the way to achieve its organizational goals. Thirdly, there is the need for management to set those that can be achieving within the available resources of the organization.

1.7  SCOPE OF THE STUDY

This research is purely a study the impact of business policy on organizational performance, will narrow down to determine how social to improve the impact in the organization. The choice of Guinness Nigeria PLC, international beer and aqua field water services since it is a multinational corporation, it is expected that finding could be useful to the organization in decision making. It also emphasizes in the study of business society relation.

1.8  LIMITATIONS OF THE STUDY

Two major constraints were encountered in the course of this study. Firstly, some of the staff approach for information declined to complete the questionnaire as well as to be interview. This uncooperative attitude limited the volume of primary information made available for the study.

Secondly, the financial constraint facing the research prevented them from making the study more pre-extensive by including more establishments into the study could not afford the cost of travels and additional questionnaires that would be required.

1.9  DEFINITION OF TERMS

Certain terms are describe as thus, below

BUSINESS: The activity of making, buying, selling influence how you believe, a way in which you usually believe.

ORGANIZATION: A group of people who form business, club etc together in order to achieve a particular aim.

PERFORMANCE: How well or badly one do something the level at which a task, etc is carried out.

PRODUCTIVITY: The rate at which a worker, company or a country produces goods and the amount produced compared with how much time and more is need to produce them.

OBJECTIVES: Can be defined as an intended accomplishment. It is express in subjective form. Objective are not measurable, they only justify at the end of the period.

GOALS; It’s refers to end accomplishment or target earned within a given period of time. It is express to end within a given period of time. It is express in administrative or numerical terms.

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Full Project – The impact of business policies on organizational performance