THE ROLE OF CORPORATE GOVERNANCE IN ENTERPRISE SUCCESS (A CASE STUDY OF ACCESS BANK PLC, AKA ROAD, UYO
Philosophically corporate governance is the mission, vision and objective of an organization. Organizational governance/culture has been studied widely by researchers over the past three decades and the literature on organizational culture is vast and diverse.
Research intends to find answers to certain question such as: ‘how does culture evolve in the organization?’, ‘can culture really impact corporate performance?’, ‘can culture be managed?’. Literature related to organizational change initiatives; management of human resources across nations and leadership to effect organizational performance.
To a large extent it supports the firm to develop long term corporate sustainability. This research work aims to understand the dynamics of organizational culture with contrast to organizational performance and the underlying research which has been under taken in this context. Managerial skills in Access Bank Nig. Plc has taken cognizance efficiency, which also has enhanced their growth.
1.1 BACKGROUND OF THE STUDY
The recent journalistic narratives like corporate culture and governance strategy is quite often seen in the business publications generating inquisitiveness on the commercialized term called corporate culture and governance among business communities.
Almost thirty years of systematic research of organizational governance and culture within the field of organizational behavior has transformed it from a mere concept to theory.
Organizational governance culture is a term which has derived from anthropology and has over the years of research, been developed, associated and structured with the other concepts in the field of psychology, sociology and management. It has emerged as one of the key tools in understanding the behaviour of people in organizations.
In recent times, organizational governance and culture is one of the most explored phenomena of organizational behaviour and an expected variable in explaining the functioning of all kinds of organizations.
Culture and governance has been referred as the stable set of values, beliefs and behaviours which are usually held by a society at large and is being consequential to social anthropology as a basis for understanding “primitive” societies, Kotter & Heskett (1992).
The early work of anthropologists like Malinowski (1931), (as mentioned in the Encyclopedia of social sciences) termed social organizations as a part of governance and culture which comprise inherited artifacts, goods, technical processes, ideas, habits and values.
Even though the concept of organizational culture was popularized in the early 1980s, and its roots can be traced back to the early human relations view of organizations that originated in the 1940s.
Theorists of the Human relations school viewed the informal, non material, interpersonal, and moral bases of cooperation and commitment as perhaps more important than the structured, material, and instrumental controls stressed by the rational system theorists.
The human perspective draw its inspiration from even earlier anthropological and sociological work on culture and governance, associated with the groups ad societies (Greetz 1973; Mead 1934; Durkheim 1964; Weber 1947, 1958),
Attention to organizational culture and governance lost ground as organizational science, and the discipline of social science in general became progressively more quantitative to the extent that research on organizational culture survived.
But its focus shifted to its more measurable aspects, particularly towards the employee attitudes and perceptions which delves more into understanding of individual participation, the degree of delegation, the extent of social distance as implied by status differences and the amount of coordination across the units. This research, referred to as organizational climate studies was prominent during 1960s and 1970s Denison (1990), which was sometimes a misnomer.
The renewed interest of organizational cultures or governance that emerged during the late 1970s suggested that deeper, more compound anthropological approach was necessary to understand the crucial but largely invisible aspect of organizational, life.
This converted interest in organizational culture represented a return to the early organizational literature. But it went far beyond this literature in contributing important new insights and ways of thinking about the role, importance, and organizational culture or governance characteristics.
Also, the research on the effect of culture on organizational performance arid investigations into how organizational, cultures are created, preserved, and changed received larger attention in recent time.
The main difference was that organizational culture was now viewed less as a natural, organically evolving phenomenon and more as a manipulable and manageable competitive asset with governance.
1.2 STATEMENT OF THE PROBLEM
It is through effective corporate governance and culture implementation that managers help the organizations achieved or accomplish its set goals and objectives. Corporate governance and culture implementation plays a vital role in the attainment of these organizational growth and successes.
Corporate culture or governance is fast becoming one of the basic and difficult challenges confronting most Nigerian organizations. Nigeria as a country with diverse cultures, is not an easy task, since many people desire only slight personal satisfaction on their role as stakeholders, employees, suppliers, creditors and customers etc and enjoy little or no sense of accomplishment rather than being other acquiring personal goals than organizational goals and objectives.
It is against this background that interest is focused on the likely corporate governance and culture efficiency strategies to be applied in the organization in other to achieve organizational growth. Therefore, based on the above problem stated, the researcher aims at investigating the problems and suggesting remedies to improving the situation.
1.3 OBJECTIVES OF THE STUDY
The objectives of this study are:
i. to identify the nature of corporate culture classification, types and implementation which exist in Access Bank Nig. Plc.
ii. to identify the impact of corporate governance and culture on organizational growth in Access Bank Nig. Plc.
iii. to identify the type of corporate governance and culture implementation in Access Bank Nig. Plc.
iv. to identify the organizational decision levels mostly used in Access Bank Nig. Plc.
v. to make possible recommendations on how effective corporate governance and culture relates organization efficiency in Access Bank Nig. Plc.
1.4 RESEARCH QUESTIONS
The following research questions were formulated.
1. What is the nature of corporate governance and culture classification, types and efficiency that exist in Access Bank Nig. Plc.
2. Does corporate governance and culture and efficiency impact on organizational growth in Access Bank Nig. Plc.
3. What is the level of decision implementation in Access Bank Nig. Plc.
4. Which of the type of corporate governance and culture implementation is mostly used in Access Bank Nig. Plc.
5. Does the decisional roles of managers relates to corporate governance and culture and efficiency organizational growth in Access Bank Nig. Plc, Aka Road, Uyo.
1.5 RESEARCH HYPOTHESES
The following research hypotheses were formulated as follows:
Ho: There is no significant relationship between corporate
governance and culture and organization efficiency..
Ho: There is no significant relationship between managers decision
and organizational efficiency.
Ho: There is a significant relationship between type of corporate governance/culture and organization efficiency.
1.6 SCOPE OF THE STUDY
A research on corporate governance culture and organization efficiency is a very wide one, it involves an extensive research the operations of organizations in different sectors of the economy.
Considering the fact that there are substantial number of organizations and firms in the country today and their relative differences in size and scale of operations as well the distinctive strategies applied in carrying out various decisions, the study becomes invariably important.
In a bid to keep the job within manageable limits and within the limited time, available resources, the researcher decided to limit the scope of the study to corporate organization with particular interest on Access Bank Nig. Plc, Aka Road, Uyo, Akwa Ibom State.
It is believe that what ever will be the findings from this be generalized as to what is obtained in most successful organizations like Access Bank Nig. Plc, Aka Road, Uyo,
1.7 SIGNIFICANCE OF THE STUDY
This research work was carried out for purpose of achieving certain objectives. At the end of this project, it is hoped that it will be useful to a lot in the following ways:
1. Business as corporate organizations when making decisions.
2. Government and other non-government organizations during policies formulation and implementations.
3. Managers, as it will serve as a guide to the present and future one’s when dealing with decision issues.
4. Individuals and other interested members of the public who are interested in the topic.
5. The study will most especially helped the researcher to determine whether decision implementation is a major role of a managers in an organization.
6. Students and researchers which might use the study as a guide or reference material in future.
1.8 LIMITATION OF THE STUDY
In the course of this research work, the researcher encountered some constraints such as:
Financial responsibility posed a problem as the researcher was limited by inadequate funds to carry out his study. Thus, the available funds were used. The availability of most related materials in the research area of study was also a limiting factor. Extraction of information from the employees in the case study organization was not that easy as they found it difficult to reveal some important facts concerning the organization.
1.9 ORGANIZATION OF THE STUDY
The study has been grouped in five chapters an easy and better understanding and goals meant to achieved. In line with this, chapter one was a general introduction of the study, which is carried out in the following topic.
Background of the study, statement of the problem, objective of the study, research questionnaire, hypothesis, scope of the study significance of the limitation of the study, organization of the study, definition of terms etc.
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The chapter two contains the review of related literature on decisions implementation and organizational growth in the organization. Chapter three deals with the research methodology were method of sample selection: research design and sample size are treated and also method of collecting and checking of the data analysis.
In chapter four deals with data presentation, analysis and interpretation through the use of tables, percentage and tested chi-square (X2) to fully explain the findings while the last chapter five deals with summary of findings, conclusion and recommendations.
1.10 DEFINITIONOF TERMS
MANAGEMENT: According to Akpan (2000
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