NEW PRODUCT DEVELOPMENT AND ITS IMPACT ON PROFITABILITY IN BANKING INDUSTRY

(A CASE STUDY OF BANK PHB NIGERIA PLC)

 

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ABSTRACT

 

This research is title “New Product Development and its impact in Banking Industry” with special reference to Bank PHB Plc. Kaduna Branch, Kaduna. The objective of this work is to assess thee impact of New Product development as it affects the profit of organization. product and new product development process, the attributes and characteristic of service, product life cycle and strategy, product success and failures also discussed the customer profitability in banking industry. Total population for this research comprises of entire staff of the bank.

 

The sample size is 17 which were randomly selected. Thus, 13 were administered with questionnaire comprise the staff of the Bank PHB. The researcher was not only relied interview were also used on them also. The instrument used in this research is survey method and the justification for this, is that its sample are very relevant to the study. The sampling is on fact that each element of the population have equal chance of being selected. Chapter four deal with presentation and analysis of data, in chapter five the researcher discussed the results, findings and proof hypothesis.

 

However, simple percentage statistical method of computing results was used. Some of the finding were in consistence with the existing knowledge of some of the new findings include, New Product development play an important role in organizations growth because of dynamic changes in the financial sector and the environment. And profit making is crucial with total marketing programmes because it serves as a rewards to the investors.

 

The research logically ends with summary, conclusion and recommendation. The researcher recommended that adequate attention and orientation should be given to new product and the staffs as a whole. There is need for the banks to be technologically oriented, due to dynamic change and intense competition in the economy.

 

 

CHAPTER ONE

 

INTRODUCTION

1.0     Background of the study       –         –         –         –         —       –         1

• Historical Background of the Bank PHB Kaduna –       –       4
• Statement of General Problems –       –       –       –       –       6
• Objectives of the study – –       –       –       –       –       –       9
• Significance of the Study –       –       –       –       –       –       10
• Research Question 11
• Statement of Hypothesis –       –       –       –       –       –       11
• Scope and Limitation of the study –       –       –       –       –       12
• Definition of Terms – –       –       –       –       –       –       –       13

CHAPTER TWO

LITERATURE REVIEW

• Introduction 17

2.1    Product     –       –       –       –       –                –                         17

2.2    Sources of new Product Ideas                                                   21

2.3    New Product Development decisions process                             22

2.4    Product life cycle Plc strategies                                                  25

2.5    Need for Adequate Research in New Product Development 30

2.6    Unique selling Proposition for new product                                 35

2.7    Importance of new product Development                                  38

2.8    Consumer profitability                                                               39

2.9    New Product suchapterccess and Failure                                            41

CHAPTER THREE – Research Methodology

• Introduction – – –       –       –       –       –       –       –         44
  • Area of study –       –       –       –       –       –                         44
  • Design of the study 44
  • Population of the study                                   45
  • Sampling Technique –       –       –       –       –       –       –       45
  • Data Collection instruments – –       –       –                        43
  • Validity and Reliability of the instrument –       –       —      –       45
  • Administration of research instrument 46
  • Techniques of data Analysis 46
  • Limitation of Methodology          47

CHAPTER FOUR – Presentation and Analysis of Data

4.0    Introduction        –       –       –       –       –       –       –       –       48

4.1    Data Analysis of Staff/Management Questionnaire –   –       –       48

4.2    Summary of findings –  –       –       –       –       –       –       –       56

4.3    Test of Hypothesis       –       –       –       –       –       –       –       57

CHAPTER FIVE – Summary, conclusion and Recommendations

5.0    Introduction –     –       –       –       –       –                –       –       60

• Summary –       –       –       –       –       –       –       –       –       61
• Conclusion – –       –       –       –       –       –       –       –       62
• Recommendations –       –       –       –       –       –       –       63

Bibliography        –       –       –       –       –       –       –       –       65

Appendix    66

 

 

 

CHAPTER ONE

1.0     BACKGROUND OF THE STUDY

          INTRODUCTION

Banking Industry has to be good at developing new products. It must also manage them in the face of changing tastes, technologies, Interest rates, exchange rate and competitions. Every product seems to go through a life cycle. It must go through several phases, and eventually die as new products that better serve consumer needs came along. The product life cycle presents two major challenges, First, because all products eventually decline, the bank must find new products to replace the declining one (The problem of new product development).

 

Secondly, the bank must understand how its product age adapts its marketing strategies as product pass through life cycle. (the problem of product life cycle stages) Hence, it is very important to look at the problem of finding and developing new products, and them at the problem of managing them successfully over their life cycles in the banking industry and as well as its profitability.

 

Given the rapid changes in consumer states, and competition, banks must develop a steady stream of new products and services. As a matter of fact, bank can obtain new products in two ways, one is through “Acquisition” that is buying a whole distress bank(s) a license to offer other bank services. And secondly through “New Product development in the banks own research and development department.

 

As the cost of developing and introducing major new products have claimed, many large banks limited. First bank, Union bank, and United bank for Africa, have acquired existing services rather than creating new ones like these new generation banks, i.e. Intercontinental bank, Trust bank, All State Trust bank, Ecobank, Guaranty Trust bank, Zenith Bank and of course the case study of this research project that is bank PHB Nigeria Plc. Kaduna. Though, other banks have saved money by coping competitors’ mode of services.

 

However, new product implies original products improvements, products (services) modification and new method of granting loans, Financing, customers advice interest rate, mode of payment etc. that the bank developed through its own research and development.

 

Importantly, the recent distress syndrome in compared with the global technological and, economic changes has made the Nigerian banking environment very competitive and dynamic.

 

The development has led to selective purchase or patronage of product and services by customers, especially those that are still skeptical about the longevity of the banks and viability of their product. In this regard, marketing as an essential elements of communication mix has becomes the sought after strategy not only to already existing clients but also to non-potential one by any enterprising bank in the country today when a promising idea come along Bank PHB Nigeria Plc a venture team made up of the research who develop the idea and other people from personnel, sales/marketing, legal admin and foreign department or sections will team up to natures of the products, protect and member stays with such product until its has succeeded.

 

However, quality banking services is one of the marketers major positioning tools. Quality has two dimensions level and constituency. In developing new product, the bank must first choose a quality level in the target means, market.

However, any bank that fails to introduce and maintain new products as the world changes may have itself to blame as regards loose of customers, fame or it position in the community of financial industry and consequently may be liquidated or distress.

 

Hence introduction of new products is the strength of the bank and the ability to maintain it at the given profit is the success of the bank.

 

1.0     HISTORICAL BACKGROUND OF BANK PHB PLC KADUNA

Platinum Habib Bank Limited was incorporated as a Private Limited Liability Company in November, 1982. It was granted Banking License on 7^th march, 1983 and commenced operation on 16^th May of the same year.

OWNERSHIP

The stakeholder ratio is 40 percent to Bank PHB Nig. Plc, Pakistan and 60 percent to Nigerians. In 1985 however and in compliance with the Nigerian Enterprises Promotion Act of 1977 the Nigerian Partners of the Venture relinquished 10 percent of their shares to Nigerian Employees for acquisition under the Staff Equity Participation Scheme.

OBJECTIVES

The objectives of the venture have been to: introduce and maintain a banking style with a difference in Nigeria and develop a sound bank with a branch network in all the States of the federation and the capital territory, Abuja.

Provide financial and technical assistance to the public and private sector organizations within the framework of government of Nigeria’s plan and policies

Mobilize deposits by encouraging savings through the introduction of effective banking services and effective advertising programme.

 

With these at the background, Habib Nigeria Bank Limited went into a full range of retail banking services tailored to the needs of all categories of customers, emphasizing services and professionalism with a difference.

 

The tremendous transformation in the Nigeria banking landscape was made when Professor Charles Soludo made a pronouncement (on 6^th July, 2004) on the issue of re-capitalizing the banking financial base from N2 billion to a minimum of N25 billion, which should be complied with by 31^st December, 2005. This has drawn different views. As expressed by Anameje (2004).

 

The name was coined from he merger between Platinum Bank and Habib Nigeria bank Ltd in October 2005 due to the transformation in banking industry made Platinum Bank and Habib Bank to sign an agreement to merge their businesses and coalesce into a formidable institution that will be n the fore front of banking post consolidation. The name was changed to Platinum Habib Bank Plc.

 

1.1     STATEMENT OF GENERAL PROBLEM

Marketing is said to be applicable to all spheres of life, for this fact, the banking industry is not an exemption. For the achievement of the overall corporate objectives of prosperity, growth and contisciously structure their services in such a that they cater for the financial needs of not…

 

 

 

 

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PROMOTION OF SMALL AND MEDIUM SCALE ENTERPRISES IN THE DEVELOPMENT

 

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CHAPTER ONE

INTRODUCTION

• BACKGROUND OF THE STUDY

The main strategy for the establishment by the entrepreneurs of Small and Medium Enterprises (SMEs) and its promotion by various sectors, is to enhance job creation, promote economic growth, reduce poverty. The importance of Small and Medium Enterprises (SMEs) in any economy cannot by overemphasis. They constitute the smallest unit of business. They predominate in most sectors of the economy occupying every available space such as form enterprises in the rural areas, provision store, bakery, pure water production, garri processing or food processing industries.

 

Although, many writers have talked about the financing of the Small and Medium Enterprises in pre-consolidation and post-consolidation periods of Banks towards the enterprises development, the issue of credit accessibility and affordability as it affects economic development has not been stressed. The concern of this research is to examine the extent of promotion accorded the entrepreneurs of Small and Medium Enterprises. (SMEs) and the level of economic development in the rural communities.

 

The history of industrial revolution in developed and developing economies or countries has shown that Small and Medium Enterprises (SMEs) are driving force of industrial development. It is therefore, the attention of the government, the world over to focus on the funding and supporting of Small and Medium Enterprises (SMEs) activities. Available evidence shows that Small and Medium Enterprises (SMEs) are characterized by being managed by their owners as proprietorship or partnership. They are largely local in the areas of capital and relatively small size with the industry.

 

Small and Medium Enterprises (SMEs) predominate in the private sector of the Nigeria economy. Almost all of them are starved of funds. The relative importance of the enterprises differs from one type of business to another. The major areas of business enterprises activities are in manufacturing, rendering services and product distribution.

 

Banbeck (1983) included in his publication on “Basic Small Business Management” that more than one-third of all the manufacturing firms in Nigeria employ fewer than five persons or none at all and that close to two-thirds employ fewer than twenty workers. His study on the whole revealed that five per cent of non-form business of all kinds employs fewer than fifty workers each.

 

The characteristics of Small and Medium Enterprises (SMEs) largely constitute the basis of their problems and special needs that have attracted different authorities and sectors in recent past. It is also the focus of this research to critically examine and measure the effects of the government funding programmes on Small and Medium Enterprises (SMEs) activities. Though the result of the findings from the respondents/enterprises, the study will determine how much of the support have been received from the programmes and extent of development experienced in the population Okehi LGA. Kogi State.

 

The study is further intended to reveal the various enterprises with Okehi communities with a view to identifying their business activities, proffering solutions to the identified challenges impeding their effectiveness and proficiency to achieve economic development.

 

 

• STATEMENT OF THE PROBLEM

The research examines in all possible ways, the extent of government funding programmes in the promotion of Small and Medium Enterprises (SMEs) in the population area as well as the impact on the socio-economic development of the area covered by the scope. The study further identifies the peculiar problems or challenges the SME sub-sector associated with their smooth operations. Possible suggestions to provide engine for economic growth and prosperity in the industries is also the focus of this

 

 

 

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THE EFFECTS OF ENTREPRENEURIAL CHARACTERISTICS ON BUSINESS PERFORMANCE IN JOS NORTH L.G.A

 

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ABSTRACT

The study examines the effect of entrepreneurial characteristics on business performance in Jos North. The research questions that guided the study were: What are the characteristics of an entrepreneur? What is the relationship between entrepreneurship traits and business performance? What are the challenges militating against entrepreneurs in the performance of their business?

 

A survey method was used for this study. The population of the entire business entrepreneur in Ahmadu Bello Way Jos North Local Government Area of Plateau State. Out of 1050 persons 180 persons were selected as the sample size.

 

A questionnaire developed in five Likert scale was used to obtain data. Mean scores was used to analyze the data obtained from the field. The result of the analysis indicates that entrepreneurial characteristics in an entrepreneur facilitate effective management and creativity required to survive in the competitive business world today.

The characteristics of an entrepreneur are basically risk taking, creativity, goal oriented and need for achievement, strong leadership quality and forecasting in to the future enhances the performance of an entrepreneur.

Inspite of this, entrepreneurship in Jos North is constraint with problems arising from inability to access loan, poor infrastructural facilities as well as unconducive environment sequel to political crisis.

 

 

 

TABLE OF CONTENT

CHAPTER ONE

INTRODUCTION

1.1   Background of the study       –         –         –         –         –         –         1

1.2   Statement of problem- –         –         –         –         –         –         –         2

1.3   Objectives of the study-        –         –         –         –         –         –         3

1.4     Significance of the study-               –         –         –         –         –         4

1.5     Research Question-     –         –         –         –         –         –         –         4

1.6   Scope of the study-                 –         –         –         –         –         –         5

1.7   Limitation of the study-         –         –         –         –         –         –         5

1.8  Definition of terms-                 –         –         –         –         –         –         6

CHAPTER TWO – LITERATURE REVIEW

2.1     Introduction-       –         –         —       –         –         –         –         –         7

2.2     Concept of entrepreneurship-        –         –         –         –         –         7

2.3     The characteristics of an entrepreneur –         –         –         –         12

2.4    The effect of entrepreneurial characteristics on business           performance        –         –         –         –         –         –         –         –         17

2.5    The practical approaches to entrepreneurship development –   19

2.6     The problems militating against entrepreneurship development in Nigeria –          –         –         –         –         –         –         –         –         –          31

CHAPTER THREE – RESEARCH METHODOLOGY

3.1     Introduction –      –         –         –         –         –         –         –         –         34

3.2     Research Design –        –         –         –         –         –         –         –         34

3.3     Area of the Study –      –         –         –         –         –         –         –         34

3.4   Population of the Study-       –         –         –         –         –         –         35

3.5   Sample Size and Sampling Techniques –          –         –         –         35

3.6   Instrument of Data Collection       –         –         –         –         –         35

3.7   Validation of Instrument      –         –         –         –         –         –         35

3.8     Reliability of instrument      –         –         –         –         –         –         36

3.9   Method of Data Collection and Justification   –         –         –         36

3.10   Method of Data Analysis and Justification     –         –         –         36

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1     Introduction       –         –         –         –         –         –         –         –         38

4.2     Characteristic of Respondents     –         –         –         –         –         38

4.3     Data Presentation and Analysis  –         –         –         –         –         39

4.4     Summary of Findings  –         –         –         –         –         –         –         43

4.5     Discussion of Findings          –         –         –         –         –         –         44

CHAPTER FIVE: SUMMARY, CONCLUSION, AND RECOMMENDATIONS

5.1     Summary  –         –         –         –         –         –         –         –         –         45

5.2     Conclusion          –         –         –         –         –         –         –         –         46

5.3     Recommendations       –         –         –         –         –         –         –         47

References –         –         –         –         –         –         –         –         –         49

Questionnaire     –         –         –         –         –         –         –         –         51

 

 

CHAPTER ONE

INTRODUCTION

1.1    Background of the Study

An entrepreneur is an innovator who implements changes within a market through the carrying out of new combinations. The carrying out of new combination can take several forms; the introduction of a new good quality, there fore; the introduction of a new method of production, the opening of a new market; the congress of a new source of new materials or parts; the carrying out of the new organization of any industry.

 

Further more, an entrepreneur is an individual that identifies, develop and brings vision to life under condition of risk and a considerable uncertainty. The vision may be an innovative idea, an opportunity or simply a better way to do something (Mamma, 2010).

 

This is the reason why it is often said that every entrepreneur is a human being but not every human being is an entrepreneurs. Going by this adage; it can be said that entrepreneurs are special people with distinguishable features or characteristics. As such an entrepreneur is result oriented; future oriented; creative, innovative, has self confidence; has a good human relations;   must be self-discipline; copies with uncertainty and above all profit oriented.

 

A lot of business falls due to the inability of the innovators of such business to exhibit the time entrepreneurial characteristic in the day to day management of their business enterprise, hence such business do not stand the test of time. This is evident in the way and manner in which small and medium scale business collapse in Nigeria. It is against this background that the research sees the subject matter of this research: the effect of this entrepreneurial characteristic of business performance worthy of empirical investigation.

 

 

1.2    Statement of problem

Launching into a business venture without having the basic trade instinct or the characteristic of an entrepreneur is suicidal. This is so because such an enterprise cannot stand on the test of time. For instance, an individual who goes into business initially must face difficulty before the business break-even.

 

However, people who do not have trait of an entrepreneur would not be patient enough to nurture a business to a profit-making stage. This is the reason why so many small and medium scale businesses fail. The inability to effectively exhibit a basic trade instinct as well as lack of motivation, goals, and talent for venture creation sequel to the absence of entrepreneurial characteristics in most business

 

 

 

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THE IMPACT OF NEW PRODUCT DEVELOPMENT ON SALES VOLUME IN PEUGEOT AUTOMOBILE NIGERIA LIMITED, KADUNA

 

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ABSTRACT

The study examined the impact of new product development on sales volume in Peugeot Automobile Nigeria Limited, Kaduna. The objective of the study is to examine how new product development on sales volume are being carried out by Peugeot Automobile Nigeria Plc, Kaduna. The survey research method would be adopted in this research. The finding further reveal that the techniques used in new product development on sales volume in Peugeot Automobile are basically the total assurance and consumer feedback. In conclusion, the new product development is very important to the existence of business organization because its survival depends on increase in sales volume. As such it was recommended that new product development on PAN Nigeria Limited should strengthen its marketing activities by monitoring competitive activities on a regular basis in order to identify areas of their weakness.

 

 

 

 

TABLE OF CONTENTS

Title                                                                                        i

Declaration                                                                              ii

Approval page                                                                         iii

Dedication                                                                               iv

Acknowledgement                                                                    v

Abstract                                                                                  vii

Table of contents                                                                     viii

CHAPTER ONE: INTRODUCTION

• Background of the Study 1
• Statement of the Problem 4
• Objectives of the Study 7
• Significance of the Study 7
• Research Questions 8
• Scope of the Study 8
• Limitations of the study 9

CHAPTER TWO: LITERATURE REVIEW

• Introduction 11
• Definition of product 11
• Stages New Product Development 17
• Process of new product development 21
• Reasons and Objectives of New Product Development 26
• Product Life Cycle 27
• Issues of sales 27
• Summary of the Literature 29

CHAPTER THREE: RESEARCH METHODOLOGY                           

• Introduction 30
• Research Design 30
• Area of Study 31
• Populations of Study 31
• Sample Size and Sampling Technique 31
• Instrument of Data Collection 32
• Validation of Instrument 32
• Reliability of Instrument 32
• Method of Data Collection 32
• Method of Data Analysis 33

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

• Introduction 34
• Characteristics of Respondents 34
• Data Presentation and Analysis 35
• Summary of Findings 39
• Discussion of Findings 39

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

• Summary 40
• Conclusion 42
• Recommendations 43

Bibliography                                                                    45

 

 

CHAPTER ONE

• BACKGROUND OF THE STUDY

The subject (new product development) has influence the issue of sales which the researcher will like to assembly the sales of PAN product and services in Nigeria.

 

The company staff embark on advertising and research agencies, competitors, through conferences, exhibitions, and trade fairs, company’s marketing department and R and D department of the company or through any of the processes to prototype development and test marketing or commercialization in new product development that is ever done or actualized in the assembly nation (Nigeria) rather, but in France, therefore the sales here must be influenced by the cost of raw material source shipped for imported and along with the cost of production in the assembly.

 

This is why sales or marketing strategy apply is more focus on industrial market and government (local state and federal). Majorities and less industrial market (buyer). All that involve are due to the technicalities and uniqueness of the product.

 

There may be no use attempting to add a new product to the existing range, if such a firm has no clear-cut objectives of what the new product is supposed to achieve. It is not however, within the scope of this research piece to make a comprehensive list of the various objectives of new products development as this varied widely from one firm to another.

 

By and large, the purpose of new product development of an unexplored market potentials which a company has identified the firm having armed itself life PAN with such objective may then proceed to other steps in new product development.

Companies that fail to develop new products are putting themselves at great risk. Risk of poor sales volume, space out of market into a small cubicle of not completely put out by competitors of the same product development strategies, initiatives and innovation conscious that is what that research is aiming to influence on sales volume.

 

The existing products are vulnerable to changing customer needs and tastes, new technologies shortened product life circles and increased domestic and foreign competition once a company has carefully segmented the market, chosen its target customers, identified needs, and determined its market positioning.

 

It is better able to develop new products because new products development shapes the company’s future. Replacement products must be created to maintain or build sales of the organization.

 

Any enterprise that is profit oriented, can be actualize this through prompt sales volume realize, and that depend on the quality, core products, physical tangible, augmented products and the application of promotional mix/tools of the newly developed product.

It is also clear that customers want new products, and competitors will do their best to supply them.

In automobile company in general (especially PAN with it uniqueness and distinctive qualitative product) such cannot be less expected.

Automobile company Peugeot in developing a program to reach its intended market, must start with the product (new product) at hand for offering or service designed to satisfy the wants of the market segment. Therefore the executives must plan, develop and manage both individual (industrial users) product and industrial product assortment. This is not easy task as is shown by the large number of product failure in our economy.

 

• STATEMENT OF THE PROBLEM

A new product can be conceived and developed over night, it takes time and effort to bring the new product idea into fruition. It also consumes a lot of money to bring a new idea generated into commercialized offer. A new product is expected to be profitable and successful but opposite is the case sometimes to different companies. Products sometimes decline and die natural deaths due to inexplicable circumstance.

 

The reaction of the company leads to new or modified products, such products

 

 

 

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AN EVALUATION OF THE IMPACT OF WAGES AND SALARIES POLICIES ON THE PERFORMANCE OF WORKERS OF NATIONAL EYE CENTRE

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Bulk sms company in Nigeria

 

 

 

ABSTRACT

This research study deals with an evaluation of the impact of wages and salaries policies on the performance of workers in government parastatals, with special reference to National Eye Centre Kaduna.  The objectives of the study is to find out government policies with respect to wages and salaries in various government parastatals, the problems encountered while implementing wages and salaries in Nigeria, to also determine the effectiveness of wages and salaries policies on the performance of workers in government parastatals. 

 

The research method use in this research work is survey methods for data collection.  The findings of this research work are that it is obvious that the most tangible means of compensation are wages and salaries, a major determinant of wages and salaries is the pay level of other organization.  In conclusion, this research work concluded that wages and salaries policy influence the performance of workers in government parastatals in Nigeria.

 

The recommendations are since wages and salaries are the most tangible form of compensation, organization should ensure an equitable pay structure for the employees at all time.  There should be a proper collective bargaining process to ensure that wages are fixed at the choice of both the employer and employees fixed at the choice of both the employer and employees so that there will not be friction later on.

 

 

CHAPTER ONE: Introduction

1. Background of the study                                                  1
2. Statement of the problem                                                2
3. Objectives of the study                                                    4
4. Significance of the study                                                  4
5. Research Hypothesis                                                        5
6. Scope of the study                                                          5
7. Limitations of the study                                           6

CHAPTER TWO: Literature Review

1. Introduction                                                                    7
2. Purpose of wages and salaries                                          9
3. Determination of wages and salaries                                 10
4. Government policy on wages and salaries in Nigeria

and their effect on performance.                                      17

1. Methods of fixing wages                                                   21
2. Achieving Organizational Effectiveness through

wages and salaries.                                                          25

CHAPTER THREE: Research Methodology

1. Introduction                                                                    29
2. Research Design                                                              29
3. Area of study                                                                  30
4. Population of the study                                                    30
5. Sample size and sampling technique                                 31
6. Instruments of data collection                                          31
7. Validation of the instrument                                             32
8. Reliability of the instrument                                              32
9. Method of data analysis                                                   33

CHAPTER FOUR: Data Presentation and Analysis

1. Introduction                                                                    34
2. Characteristics of Respondents                                         34
3. Data Presentation                                                            36
4. Data analysis                                                                   39
5. Test of hypothesis                                                           43
6. Summary & Discussion of findings                                     47

CHAPTER FIVE: Summary, Conclusion and Recommendation

5.0    Introduction                                                                    51

1. Summary                                                                        51
2. Conclusion                                                                      54
3. Recommendation                                                            54

Reference                                                                       57

         Appendix

 

 

 

CHAPTER ONE

INTRODUCTION

1. BACKGROUND OF THE STUDY

Employer provides work for employees just as employee on the other hand enables organization and nation to provide or produce goods and services for the ultimate benefit of mankind (O’ Donnell 2000).

 

This is essentially in the nation building process.When goods are provided and services rendered, economy benefits also come to play.According to an abstract of employment, employers pays workers for productivity and services.This is of a symbolic advantage because just as employee help employers to make profit, the employer also give wages and salaries to employees to enable them meet their personal and domestic aspirations.

 

Fairly to pay wages and salaries has resulted in very important conflict in labour and management relation.Therefore, wages and salaries according to Mackenzie is the most significant reward that would assist them to have a good standard of living.

Wages and salaries are used as motivational factors or strategies (Micheal A. 2005).This is explain by piece: rate system which allows payment of wages in relation to job done, in addition, people have been seen to converse for work in organization, wages and salaries are no charitable grant by organization but a significant aspect of the right of worker in the productivity process.Payment must be made for job done by labour.Profit made should not only be for growth and development of companies while workers suffer physically and economically.

The idea of national minimum wage is based on the understanding of the fact that there must be a border line under which employers must not fall in the payment of salaries and wages to workers who need to maintain a living standard.

 

 

1. STATEMENT OF PROBLEM

This research is carried out to evaluate wages and salaries policies on the performance of government parastatals in Nigeria with a case study of National Eye Centre Kaduna.Despite the services rendered by the public sector, salary increment is still a problem.The agitation for more salary is still on because of increasing level of standard of living.The global economic crisis also has brought about the agitation for salary increment and this is the reason for almost all the industrial action being embarked by personnel working in government parastatals.

 

 

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