Table of Contents

Managerial Competencies by an Entrepreneur for Achieving Business

Success in Economic Downturn

Ibrahim Abubakar Mikugi, Usman Baba Umar & Muhammad Hamisu Shafii                                   1-10

A Comparative Study of Leadership Effectiveness and Accountability in

Public and Private Sector Governance in Nigeria

Alao, Esther Monisola                                                                                                              11-25

Inventory Control and Performance of Manufacturing Company

Ademola, Emmanuel Akinyele & Oyeleye, Temidayo Florence                                               26-46                                                              

The Comparability of Pre and Post Adoption IFRS in Nigeria Insurance Companies

Soye, Yinka Augustine & Raji, Oladeinde Akeem                                                                    47-58

Manpower Training and Development Prerequisite for Productivity in

Banking Industry (A Case of Wema Bank Plc, Osun State)

Babatunde, M. Oyewale & Salam, A. Saheed                                                                          59-76

Exploring Strategies for Safety and Security in Tourism and Hospitality

Industry in Ogun State

Adeogun O., Tiamiyu O. A. & Alabi A. A.                                                                                77-87                                                  

Exploring Strategies for Safety and Security in Tourism and Hospitality Industry in Ogun State

ADEOGUN O.¹, TIAMIYU O. A.² & ALABI A. A.³

Department of Hospitality, Leisure and Tourism Management

Moshood Abiola Polytechnic, Ogun State

Email:  

ABSTRACT

Safety and security is one of the global forces that would transform the tourism and hotel industry in this new millennium. A tourist / guest who stay in the hotel industry at any of the tourist destinations could be prone to robbery, assault, rape, kidnap and fire outbreak. The aim of this paper is to find ways and means of mitigating the occurrences of incidents mentioned above. The methodology used for the research work include field survey and personal interviews conducted for the Ogun State Police Force, Chief Security Officers in  five selected hotels and hotel personnel as well as hotel guests. The findings from the selected samples studied revealed that car theft and fire outbreaks especially in the kitchen / food production area sometimes occur in hotels, while kidnapping, rape and assault rarely occur. Therefore, the research came up with a triple tier systems approach as solution to safety and security issues in the hotel industry. This approach involves: training of staff in security and safety issues, use of plain police men as security backup in hotels, involvement of professional bodies such as Hospitality and Tourism Management Association of Nigeria (HATMAN), Nigerian Hotel and Catering Institute (NHCI) to be actively involved in organization of trainings, annual conferences, seminar, trade-fairs on latest technological development / equipment in security and safety matters for the hospitality industry.

Manpower Training and Development Prerequisite for Productivity in Banking Industry (A Case of Wema Bank Plc, Osun State)

BABATUNDE, M. OYEWALE¹ & SALAM, A. SAHEED²

¹Department of Management & Accounting, Ladoke Akintola University of Technology, Ogbomoso, Oyo State, Nigeria

²Department of Business Administration, College of Management & Social Sciences, Fountain University, Osogbo

Email boyewale4@gmail.com

ABSTRACT                                       

The study examines manpower training and development as prerequisite for productivity in banking industry in Nigeria with a particular reference to the Wema Bank PLC Nigeria. Data for this study were obtained from both the primary and secondary sources. Questionnaires were administered on forty-two (42) employees of the bank using simple percentage to compliment other information required from the secondary data. The descriptive statistics were employed to test the hypotheses with the use of the Pearson Product Moment Correlation Coefficient, Pearson Chi square, and Pearson Correlation and Linear regression at 0.05 alpha levels 1. The results showed that there is a positive significant effect of manpower training/development on organizational performance as t =34.921 and which is above the rule of thumb positivity of 2 and the coefficient of manpower training/development is 0.114. The study concludes that an increase in job satisfaction and reductions in employee turnover are the benefits of training/development in the Wema Bank PLC. However, the study recommends that organizations should make training and development of their employees a continuous activity. Also the study recommends that organizations should use training to gain a competitive advantage more than just basic skills development with a view to creating intellectual capital on the employees.

The Comparability of Pre and Post Adoption IFRS in Nigeria Insurance Companies 

SOYE, YINKA AUGUSTINE & RAJI, OLADEINDE AKEEM

Department of Insurance, The Federal Polytechnics Ilaro, Ogun State, Nigeria

Department of Insurance, The Federal Polytechnics Ilaro, Ogun State, Nigeria

E-mail: yinkaaugustine@yahoo.com

ABSTRACT

The study is carried out to measure the comparability of pre and post adoption IFRS in Nigeria insurance companies. ROA, ROE, DEBTRATIO, SIZE of company, GROWTH and ESP were selected as performance criterion for ten insurance companies in Nigeria. Data were collected (2007-2014) and divided into pre (2007-2010) and post (2011 2014) IFRS- Paired-Samples T-tests and f-test at 5% significance level was done to ascertain influence of pre and post IFRS adoption into insurance companies. Findings show that differences on the performance of the selected companies between Pre and Post IFRS periods are significant. The study affirmed a strong correlation between adoption of IFRS and performance of insurance companies in Nigeria.

Inventory Control and Performance of Manufacturing Company

ADEMOLA, EMMANUEL AKINYELE AND OYELEYE, TEMIDAYO FLORENCE

Department of Accountancy

Federal Polytechnic Ilaro Ogun State

Email: demoladelord2003@yahoo.com

ABSTRACT

This paper examined the cost benefit analysis of inventory control in manufacturing industries and to known the effect or challenges facing manufacturing companies and how it can be handled. The researchers made use of secondary data from SOSACO Nigeria Plc. The method used monthly descriptive EOQ (economic order quantity) model, to determine the optimal order quantity via the used of Economic Order Quantity (EOQ) which is an optional policy that would provide adequate inventory level when needed at the minimum total   cost of ordering cost and the Economic Production Quantity (EPQ) which is the quantity demand of goods produced by the company to the economic. The method that was used to analyze  this data  was the EOQ model and EPQ model It was discovered that though the companies guide against ordering material that will effectively minimize the cost in an optimal way nevertheless the manufacturing companies could still do better if all cost that is associated to the production are minimized. The conclusion on this, show that the survival of any company manufacturing organization depends, to some extend on the inventory level being kept by the company. The recommendations  made is that the company should adopt the EOQ and the EPQ model so as to adequately tackle the problem of sub-optimization, which result when the factor is under-utilize.

A Comparative Study of Leadership Effectiveness and Accountability in Public and Private Sector Governance in Nigeria 

ALAO, ESTHER MONISOLA

Department of Business Studies

Landmark University Omuaran, Kwara State

Email: monisolaalao@gmail.com

ABSTRACT

This study is aimed at comparing the leadership process in the public and private sectors with a view to benchmarking approaches that can enhance performance in the public sector. The study is descriptive and combines secondary data with interview of key personnel in both sectors. Findings indicate that the private sector is guided by rules, aims at compulsory attainment of set goals in line with organization’s mission. Failure may attract query, transfer, salary cuts or termination of job which is strange to the public sector since they have no specific set goals, operate under a free rein to produce inefficiency, lack of transparency and accountability marked with high level of corruption. The study affirms these attitudes as responsible for some of the challenges pursuing Nigeria’s economic woes and therefore suggests a need for redirection of governance process. The posture of leadership in Nigeria can be more effective if monitoring and controls are instituted to check excesses while rules and standards are enforced.

Managerial Competencies by an Entrepreneur for Achieving Business Success in Economic Downturn 

IBRAHIM ABUBAKAR MIKUGI, USMAN BABA UMAR & MUHAMMAD HAMISU SHAFII

Department of Business Administration and Management

The Federal Polytechnic, Bida, Niger State, Nigeria

Email: tatafoundation@hotmail.com

ABSTRACT                                       

No business can survive, grow or develop without efficient and effective entrepreneurial practices. It can be posited that without entrepreneurship (which involves the conceptualization, birth, growth and development of new enterprises) there would be no serious business development in any economy. Competencies as a broader concept are regarded as networks of capabilities and other firm assets, and can be used for both internal and external industry comparisons. Most entrepreneurs find it difficult to stand the taste of time because of absence of managerial ability which contributes highly to the failure of their businesses. This paper examines the need to develop managerial competencies by entrepreneurs to explore the means of surviving in business through effective management in economic downturn. The researcher employs a qualitative research approach through theoretical analysis of some conceptual definitions and review of related literature. The key to successful entrepreneurship are discussed to mean the managerial competencies which are in-built skills entrepreneurs must hunt for, and utilize in order to outperform their competitors thereby achieving the motive of profit maximization. The paper concludes that managerial competencies must be stress by entrepreneurs to enable them contribute optimally to the economic development of the society. Recommendations were given which include the need for effort to be intensity by integrating managerial competencies in teaching manuals of entrepreneurship development programmes in our tertiary levels of education.