THE IMPACT OF INDUSTRIAL UNREST ON MANAGEMENT EFFICIENCY (A case study of Enugu State Water Corporation)

 

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ABSTRACT

The study of impact of industrial unrest on management efficiency many have made an indebt study of the employees grievance as it affect the smooth running of an organization. After discussing on this topic motivation employees is the most suitable solution to forestall the industrial unrest.

 

Any organization with constant industrial unrest will never progress, not to talk of surviving among the competitors. Consider the extremes of both employer and employee for example is looking for his economy gain whole the employer is eager to achieve the organizational objectives. Any misunderstanding between the employer and the employee should always be given a very quick consideration. Employer should also treat employees as administration is a positive step towards achieving the managerial efficiency.

 

 

 

TABLE OF CONTENT

CHAPTER ONE

• INTRODUCTION
• BACKGROUND TO THE SUBJECT MATTER
• PROBLEM ASSOCIATED WITH THE SUBJECT MATTER
• THE PURPOSE OF THE STUDY
• IMPORTANCE OF THE STUDY
• DEFINITION OF TEARMS
• REFERENCES

 

CHAPTER TWO

2.0   REVIEW OF LITERATURE

2.1   ORIGIN OF THE SUBJECT AREA

2.2   SCHOOLS OF THOUGHT WITHIN THE SUBJECT AREA

2.3   SCHOOL OF THOUGHT RELEVANT TO THE PROBLEM

2.4   POOR SKILL ACQUISITION SCHEMES

2.5   INSUFFICIENT WORKING MATERIALS

• PROCEDURES FOR THE RESOLUTION OF INDUSTRIAL UNREST
• SUMMARY OF RELATED LITERATURE
• REFERENCES

 

CHAPTER THREE

• CONCLUSION
• DATA PRESENTATION
• ANALYSIS OF DATA
• RECOMMENDATION
• Conclusion

REFERENCES

 

 

 

CHAPTER ONE

• BACKGROUND TO THE SUBJECT MATTER

 

The legal definition of unrest is dispute between employers and workman or between employers and employees or non employment with the conditions of labour of any person. Industrial unrest related to inter – organization relations about job value regulation that produces disagreement and conflicts, hence an industrial unrest can rise in any business organization providing employment of certain persons. At least one of the disputants must be a body of man.

 

Industrial unrest is a brain – child of workers grievances and could be grouped into three farms, namely dissatisfaction, compliant and grievance.

 

A dissatisfaction can be defined as any thing that disturbs the employee whether or not expresses his unrest in words or action. A complaint is a spoken or written dissatisfaction brought to the attention of the supervisor and in unionized farms the shop steward. In the language of labour relation and from the management angle, grievance is simply a complain which has been formally presented in writing, to a management representative or to a chronic official. But to most people the word grievance suggest a complaint that has been improved dismissed without due consideration by William 1980 personnel administration.

 

 

The industrial unrest of 1941 was as a result of economic difficulties caused by the first world war. The hand shop among the working class in urban centers led the railway working to demand for cost of living allowance of which the request was turned down and an industrial unrest follows. It was the Bridges committee’s report that granted the allowance.

 

Another industrial unrest was given witnessed in 1945. At the end of the seemed world was workers expected a change in their economic fortunes, but this was not realized, prices of commodities were high and the economic conditions of the time was so hash that the union demand for cost of living increase over the award made in 1942. The government refuse the demand and a general industrial unrest ensured.

 

The strike lasted for 45 and was successfully in paralyzing all economic activities. It was Davis Commissions report that granted the award of a substantial increase in the cost of living.

 

Another industrial unrest in Enugu in 1994 fed top the shooting of load miners. The load miners were on industrial unrest and aimed policemen were called in for settlement and 21 miners were killed in the unrest. In water corporation Engineers said what effort are being made by the corporation to recover debt award owned by the public and private sector to improve its revenue collection machinery considering that water corporation is not a charity organization and the hazardous process of waste disconnections. This is of the questions asked by the chief Executive on the area to motivate the workers by generating enough fund to pay the workers promptly. Many souls have died in our various hospitals because of Doctors and Nurses were on industrial unrest on demand for one condition of services or another.

 

From the economic point of view labour is one of the factors of production and such indispensable, if any meaningful production or service are to be made, employees should therefore be given their due remuneration by the management and employers of labour alike.

 

Furthermore, grievance is a real or margined or the union against a management based on non – application of services. An aggrieved worker and poor efficiency. Thus high morale depends on how fairly a workers grievances. One should suggest that possible solution be made to arrest the situation from occurring at all, especially in this period of culling economy. Any organization with constant industrial dispute. Suffers a great deal of setback. In order to improve and promote the relationship between management and worker with a view of achieving maximum productivity and utmost equilibrium for the benefit of both sides of industry, the management should establish  an effective collective bargaining machinery and joint consultation an all matters of mutual interest.

 

There is always afflict of interest between the management and their workers which arises as a result of their deterring economic view.  So collective bargaining should aim at resolving those conflicts in a peaceful manner.

 

Management and employees should not hold the biblical belief that work a physical labour is a curse imposed on man by his God for alleged Sins Committed by our first parent i.e. Adam and Eve.  Instead work should be viewed as a medium through which man can keep himself alive and help him obtain his economic wants employers at labour. Should realize that if workers are treated as human beings, they will behave as such unwitting slaves or beasts, thus that is precisely how they will act.

 

 

 

• PROBLEM ASSOCIATED WITH THE SUBJECT MATTER

 

1. Despite the monopoly nature of Enugu Water Corporation there has been

problem of constant payment of salaries and wages of workers.

It is also difficult to sense out what value the management has for

 

 

 

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THE IMPACT OF NEWS COMMENTARIES ON RADIO LISTENERS (A CASE STUDY OF FEDERAL RADIO CORPORATION OF NIGERIA ENUGU)

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ABSTRACT

 

The aim of this research project is to know the essence of radio commentaries and its impact on the listeners.

The project stars with information which given insight into the historical  back ground of news commentaries.

It processed to examine the impact news commentaries creates to this listens and the distinguishing features.  It then derives into detailed exposition of relevant literature formation of research question and hypothesis.

The research question was formulated to properly address the problem on radio commentary in relation to its listens.  Questionnaire were administered to the sampled respondents. The findings on the study reveled that news commentaries have less impact on some resident of the country as a result of low level of awareness and illiteracy.

The research recommended that radio news commentaries should create enough awareness to control the effect of illiteracy level of respondent and also further studies should be encouraged.

 

 

TABLE OF CONTENT

CHAPTER ONE

INTRODUCTION

• Background of the study
• Statement of problem
• Objective of the study
• Significance of study
• Research question
• Research hypothesis
• Definition of terms
• Assumption
• Limitation of the study

 

CHAPTER TWO

LITERATURE REVIEW

2.1     Source of literature

• The review
• Summary of literature review

 

CHAPTER THREE

RESEARCH DESIGN AND METHODOLOGY

3.1     Research  method

• Research design
• Research sample
• Data collection
• Data analysis

 

 

CHAPTER FOUR

Data  analysis and result

• Data analysis
• Result
• Discussion

 

CHAPTER FIVE

Summary & recommendation for further study

• Summary
• Recommendation
• Conclusion

Bibliography

Appendix

Questionnaire

 

 

CHAPTER ONE

 

INTRODUCTION

The history of radio news commentary in Nigeria dated back to the 1930’s when what was known as radio receiver was just a wooden box and as amp liter.  The audience has thrilled by these live commentaries run by various pioneer commentators.

Ever since the tradition of running radio commentary has remained with radio to this day.

In presidential democracy such as ours news commentary whether on the  radio newspaper or television do not only serve as surveyor of public opinion but also serve as a requisite for bridging the credibility gap between government and the governed.

Perhaps, it might be necessary to draw a line of distinction between news and news commentary. A news caster presents straight news without additional comment.  While a news talk provides background information to the new.  Writing on the uses of radio, Richard Aspinall said that:

“with limits radio can persuade   and effectively influence large  audience thereby contributing substantially to the thinking of the nation”

in the Nigeria media house today news commentary has become a ferment feature.  Airtime is allowed to news commentary immediately after major news- bulletins perhaps as an attention gaining strategy.   The media house not only give air space to commentaries written by its own staff but also uses those written in the additional headlines of various  new papers this giving freedom of expression a chance.

Today the media house news- commentary not only interpret the news but sometimes comment on societal problems but what happens to the problems or issues of the society and the views expressed by the news- talk after these Tracie broadcasts as in the media house?

Do they influence the attitude and an opinion of the country’s listening public?

 

 

1.1     BACKGROUND OF THE STUDY

Perhaps 50 percent of each radio news commentary listeners who forget to fund their radio during commentary do so are more accustomed to the news paper additional page to which they can easily refer may be and may be not we shall find cut through survey in the subsequent chapters.

Owing to the fact that news- commentary are aired to  listeners and are not seen we have therefore taken it upon ourselves to present at least except of two news commentary aired by ESBS  and FRCN

Is it not often said that seeing is believing? Indeed sight or vision is an indispensable in learning and retention –vision is said to aid the memory to produce previously retained content.  And for quick remembrance of past new-talks by respondents these excerpts shall serve as basis for our analyses.  We shall present them to our respondents for answers

 

1.2     STATEMENT OF PROBLEM

A country like Nigeria with diverse culture and human resource & need radio commentaries or news talk capable of interpreting events bordering global and societal issues. Obviously these news-commentary are staunchly provided to listeners on a daily basis

Unfortunately about 80% of radio listeners ignore news- talk once they have listened to actual news broadcast but radio listeners are 100% attentive to sport commentaries. If all radio commentaries are said to interpret events occurring earlier on illuminating the hidden fact (news behind the news) to the layman then it is  to be preferred to actual broadcast.

Moreover generally the Nigeria audience seems

 

 

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THE ROLE OF PLANNING AND FORECASTING IN BUSINESS ORGANIZATION

(A CASE STUDY OF EASTERN SHOP NIGERIA LIMITED OGUI ENUGU, ENUGU STATE)

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ABSTRACT

The role of planning and forecasting in business organization is a topic chosen from the business administration and management field.

The research was conducted mainly to examine the positive and negatives effects of not making good use of planning and forecasting in the business administration of an organization. For effective research on this topic THE ROLE OF PLANNING AND FORECASTING IN BUSINESS ORGANIZATION. Both primary and secondary data were used to elicit information from sample studied, the primary source of data were response form the personal interview which secondary source form textbook on business management and administration and periodicals.

Twenty-five people were interviewed as the sample of the staff and management of EASTERN SHOP NIGERIA LTD.

The data analysis was based on oral interview I had with the staff of Eastern Shop (twenty five) the major finding as follows.

• The planning and Forecasting is aids to correct mismanagement in business organization.
• And the planning and forecasting gives go ahead over to any individual organization that is going into business to make judicious use of forecasting and planning as a way of success in any business.
• Poor Forecasting attitude and inadequate planning
• Poor Integration of Forecasting and planning in running of business.

TABLE OF CONTENT

CHAPTER ONE

1.1     Introduction

1.2     Background of the Subject Matter

1.3     Problem Associated with the Subject Matter

1.4     The Problem the Study will be concerned with

1.5     The Importance of Study

1.6     Definition of Importance Term

• Reference

CHAPTER TWO:  LITERATURE REVIEW

2.1     The Origin of the Subject Matter

2.2     Schools of Thought Within the Subject Area

• The schools of Thought Relevant to
• The Subject Matter

2.5     Difference Methods of Studying the Problem

2.6     Summary

2.7     Reference

CHAPTER THREE:                 CONCLUSION

3.1    Data Presentation

3.2     Analysis of the Data

3.3     Recommendation

3.4     Conclusions

3.5     References

CHAPTER ONE

1.1     INTRODUCTION

Andreas Faludi states that “Planning and Forecasting is the Queen Mother function of management (organization) and that if planning and forecasting fail what/who will you direct, control, budget, staff, co-ordinate or organize rather than failure and shame”. Again he state of tension resulting from observing unexpected events. (Toulinin,1960).

Planning and Forecasting present efforts to reduce surprise caused by such events by giving practicable accounts of how they come about.”

WHAT IS PLANNING AND FORECASTING?

Forecasting is preparing of an organizational future objectives and its current material and personnel inventory, the general or departmental manager makes an estimate of the current material and human resources that will be able to do in the future and how many more human and material resources the organization must hire to meet its goals (Needle 1999:178).

Any business organization without element of forecasting in like driving a car blind- folded and being directed by a man looking out through the back window. Furthermore, forecasting is prediction; it is an effort by enterprises to know what the future holds for it. Henry Fayol speaks of prevalence as the essence of management.

According to Fayol “this looking ahead include both assessing the future and making provision for it.

Modern business management has become a complex activity and so there is the need for adequate forecasting, the need for adequate forecasting is apparent from the hey role it plays in planning Koontz et al stated that “as influence in plans of the entire environment outside the enterprises has come to be increasingly recognizes forecasting of the environment has risen in importance”.

The role of forecasting in business organization is so important that it must be adapted by managers. The making of forecasting and their review by manager compel thinking ahead looking to the future and providing for it. Also, the very act of forecasting may disclose areas where necessary control is lacking.

PLANNING:

Andreas Faludi state “Man’s understanding of this world and his ability to act in it depends on his constructing an imaginary in his own mind this applies equally well to the planner’s understanding of himself and his appreciation”. Planning in its simplest meaning is the determination of anything in advance of action. Planning is defined by Koontz O. Donneil as, “deciding in advance what to do who is to do it, when to do it and why it should be done”.

Planning bridges the gap from where we are to where we want to go planning can also be defined as “ a predetermined cause of action that helps to provide purpose and direction for members of an enterprise.

In designing an environment for effective performance of individual working together in groups, the most essential task is to see that purpose and objective and methods of attaining them are clearly understood. Planning is the first function of a manager. It is necessary if anything or activities is to reach the denied goal. Through planning a manager can approach pre-determined objective rationally. All the work of an executive whether he know it or not, is some way connected with the unfolding of a plan. In identifying the role of planning in business organization, Koontz et al State that, “we are in an economic technological social and political era in which planning like other function of managers has become requisite for enterprise survival”.

Planning is unique in that it established the objective necessary for all group efforts.

Planning and Forecasting are important tools of company management and decision- making as they assist in the appraisal of investment project in the analysis measurement and improvement of current marketing strategy and manpower planning and in the identification and development of new products and new market further they promote and facilitate the proper functioning of the many aspects of company’s activities.

Planning and Forecasting are compliment in that for a good result both go together they could be regarded as independent parts that make a specified whole writing also in the concept, Koontz O’ Donneil states that forecasting especially where participated throughout the organization may help to unify and co-ordinate plans. By focusing attention on the future, it assists in bringing a singleness of purpose to planning”.

1.2     BACKGROUND OF THE SUBJECT MATTER

The popular super market called Eastern Shop was established in May 28, 1960 almost five (5) Months after the independence of this country, this took place at Ogui Road Enugu then Anambra State now Enugu State which is formerly known as the headquarters of Eastern Nigeria.

The supermarket is situated opposite Nnamdi Azikiwe Stadium and around it were other big shops like Bubble’s, ABC Transport etc. the amazing thing concerns this shop is that the manager or the sole proprietor is a family man that had engage in other business and finally settle in opening a big supermarket. He entered into the business with little or no experience in the field of supermarket business.

Originally the name of managing director of the supermarket is Chief M.O. Okoli, Ozo Zulu Agulu 1 of Agulu in Aniocha Local Government Area of (old and new) Anambra State. He is one of the pioneer members of Enugu State association of supermarket this was to enable him to curb some of the problems that he is passing and planning in business. The supermarket has other branches in Lagos, and Onitsha. In the establishment, he employed general operation manager (GOM) who sees to the running of the business. The company also has shop manager who direct the affairs of cashier, store manager and restaurant department and report to the GOM. Eastern shop is made up of five (5) departments/ units.

• Accounting department
• Cashier department
• Store department
• Restaurant department
• Cold room department

Eastern shop deals mostly on consumer’s goods like cosmetics, wears, candy foods, baby wears and toys. The problem of proper planning and forecasting is among the major problem that limits the more expansion of the business these can be clearly seen from an adage that says “ that business is full of risks”.

Besides, the researchers were able to note the sum of N500 Naira was used as initial capital of the business and today the property of the business is on millions and it have more than twenty people as employees, this simply means that it is no longer small- scale business as the law required. But as a result of inadequate application role of good understanding in the techniques of forecasting and planning integration in business; he cannot make good pricing quality and quantity of product sales.

Since improper planning is as good as not planning at all based on the above promising and manifesting problem, these calls for the researchers to investigate the project topic to help the present situation that is facing the business.

• PROBLEMS ASSOCIATED WITH THE SUBJECT MATTER

It has obviously been proved that “He who fails to plans to fail” And it is also believed that he who fails to put records and recognizance of past event should not predict/ forecast future. If anybody that fails to envisage the future is bound to crash. Planning and forecasting have been integrated to be wonderful tools for effective management. Since planning and forecasting are like touch light used in darkness. We also believed that business dwell in the world of dynamism and unsteady setting, which called for effective use of planning and forecasting. It can also be seen as an eye at every business that wants to grow in a competitive environment.

Even the Bible says, “Where there is no vision, people perish” in this context vision, which sight in modern business management, is planning and forecasting. Moreover Hosea 4:6 said “my people perish for lack of knowledge” likewise many business collapses

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EFFECT OF TRAINING AND DEVELOPMENT ON THE PERFORMANCE OF BANK EMPLOYEES IN NIGERIA

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ABSTRACT

Training in an organization generally serves as a pathfinder to development. It is through training that the employee’s skills can be developed on preparation for efficient and effective performance. On the other hand, training and development of employees have significant impact on the activities of the organization. The research tries to analyze the importance of employees’ training and development programs in the banking sector and how the level of manpower performance depends on training and development. Chapter (i) Introduction, Chapter (2) Literature review, finally, chapter (3) deals with the summary, conclusion and recommendations.

 

 

 

CHAPTER ONE

Introduction

1. Background of the study                                              1
2. Statement of the problem                                             2
3. Objective of the study                                                   3
4. Scope of the study                                                        4
5. Significance of the study                                               5
6. Limitation of the study                                                 6
7. Definition of term                                                          6

 

CHAPTER TWO

Literature Review

2. Introduction                                                                  8
   1. History of Training in Banking System                         10
   2. Training and Development                                   11
   3. Training needs and Job analysis                                   13
   4. Objectives of Training Programme                                16
   5. Evaluation of Training Programme                               18
   6. Method of evaluating training programme                   19
   7. Kinds of training                                                           21
   8. The benefits of training

and development to an organization                             24

1. Principles for effective managerial development           26
2. Problems associated with management development  28

 

CHAPTER THREE

Summary, Conclusion and Recommendation

3. Summary                                                                      30
   1. Conclusion                                                                    31

Bibliography                                                                  32

 

 

 

 

CHAPTER ONE

INTRODUCTION

1.1    Background of the Study

“No well to do institute leaves the teaching of its business techniques to the traditional methods only, the method of watch-the master perform after he is done”. In transmitting business techniques in modem times, the apprentice watches but he also listens to formal instructions, analyse cases, plays business games, carries out exercises and takes formal examination before going back to the institution to put in practice what he l1as learnt.

The Interest in management education is evident in all sectors of the Nigerian economy. It will not be long before attendance at one of the short management courses becomes essential for upward mobility into and within the level of management. This would almost overstretch the resources of the institution. It is hoped that in the near future Nigeria would be strong enough to meet the challenges of management education in Nigeria”. (Ejiofor 1987).

We quite agree with the view of Ejiofor on importance attached to training and development of bank employee’s performance with growth and modernization of the banking industry.

 

 

1.2   Statement of Problem

A look into some banks and other financial institutions has shown that many have neglected or shown a little concern for the role of training and development in the achievement of the stated goals and objectives.

1. The employee always seems to lack the necessary induction training in regard to the activities of the employee and this has resulted in low output.
2. Many banks do not have a proper career path programme for their workforce, and if this seen and properly implemented, it will lead to low performance of the institution.
3. Poor selection of development program(s) for the top executive in the banking industry. Most of the development programmes are unrelated to the job and therefore failed to address the professionalism in decision making.

The inability of the trainee to understand or comprehend training methods and programmes; training must be continuously and specifically detailed. Managers are beginning to realize that personal growth and development is a life long

 

 

 

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EFFECTS OF MERGER AND ACQUISITION ON OANDO OPTIMAL GROWTH

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ABSTRACT

Corporate growth was much desired by most companies operating in Nigeria these was because of the advantage of high profit ability to dictate to some certain degree in terms of industry and market which lead to enlargement in market share brought about by the growth made in corporate strategies used. The strategies being about the desire and expansion of Oando Plc in Nigeria.

This research project evaluated M & A as a corporate growth strategy in Nigeria by determining how mergers and acquisition that offer speed to the market place and catapult to advantageous and viable positions.

Agility that now sustains business growth and survival in Oando Nigeria Plc. Mergers encourages to achieve economics of scale that would arise from the operations of the resultant two or more companies. It will create a strong and more viable company with increased competitive ability and increase prospects for shareholders’ returns. It involves reduction in operating costs of company’s operation.

This has lead the company as a customer focused and performance driven company that is comprised as a group of companies that symbolize dynamism, integrity, service delivery and professionalism in the energy and oil sector in Nigeria market and Africa from its origin in downstream petroleum products marketing redefined its business imperative to encompass the entire value chain in the oil and gas industry.

CHAPTER ONE

1. Introduction                                                                          1
   1. 1. Background of the Study                                                      1
   1. 1. Statement of the Problem                                                      4
   1. 1. Research Questions                                                              5
   1. 1. Objectives of the Study                                                         5
   1. 1. Scope of the Study                                                                6
   1. 1. Significance of the study                                                       6
   1. 1. Limitations of the study                                                        7
   1. Historical background of case study “Oando Nigerian plc” 8

CHAPTER TWO

Literature Review

1. 1. Introduction                                                                          11

1. 1. Meaning of mergers and acquisition                                     11

1. 1.  Form of mergers                                                                   12

1. 1. Reason for merger  &  acquisition                                         16

1. Legal and regulatory framework for

mergers & acquisition                                                           18

1. 1. Practice and procedures of mergers and acquisition            19

1. 1. Merger & acquisition life cycle                                              26

1. 1. Why mergers and acquisition fail                                          28

1. 1. Valuation of firms for mergers and Acquisition                    35

1. Financing of mergers and acquisition                                   38

CHAPTER THREE

Research Methodology

3.0    Introduction                                                                          44

3.1    The merger overview                                                     45

3.2    Area of study                                                                         46

3.3    Population of the study                                                         46

3.4    Research design                                                                    46

3.5    Sample and sampling techniques                                         47

3.6    Data collection instruments                                                 48

3.7    Validity and reliability of the instrument                              49

3.8    Administration of research instrument                                49

3.9    techniques of data analysis                                                   50

CHAPTER FOUR  

Data Presentation and Analysis 

4.1    Introduction                                                                          51

4.2    Data Presentation                                                                  51

4.3    Market Share Analysis                                                          58

4.3.1 Market Share Ranking of Companies                           60

4.4    Findings                                                                                62

CHAPTER FIVE

Summary, Conclusions and Recommendations

5.1    Introduction                                                                          77

5.2    Summary                                                                               77

5.3    Conclusion                                                                             78

5.4    Recommendations                                                                 79

5.5    Recommendation for further studies                           80

Bibliography                                                                           82 
CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

A critical analysis of the business environment in Nigeria today shows that most of the companies in operation to survive, for instance companies like, Kingsway stores, UTC, Chanri, FAMAD (formally known as Baba) AG Leventis, just to mention few, that were the toast of the town in the 1980s have either folded up or are now merely a shadow of their former states.

The rate of corporate failure in Nigeria has been very high and could even get worse if nothing drastic and urgent is done about it. Ewubare (2003); Simulating corporate Growth and Survival through mergers and acquisitions, opined that the reason some of these companies could not survive or let alone not grow could be attributed to a plethoral of reasons one of which is unfavourable operating environment. In his words, lithe business mode of Nigeria came under attack when the Babangida administration uncoupled the naira from the prior fixed exchange rate regime and introduced a measure of volatility and uncertainty in the Nigeria Economy”. This he added” Let the crashing devaluation” of the naira on a clative basis”

Furthermore, Ewubare stated that why companies in Nigeria have a low corporate growth rate is due to the absence of vision & imagination i.e. his view most companies in Nigeria lack the innovation ideas and creative spirit to grow in the midst of an unfavourable environment. British petroleum and Amaco oil during oil companies also dropped significantly, had the foresight to merge for survived. Their mergers created the largest company in the UK in terms of share price return in investment and market share. (New York times, 2000) This single merger success story in the oil industry created a foot print for other oil companies, world over to follow almost immediately. Ironically, in spite of this and successful consolidation stories it is discouraging to know that merger failure rate (in terms of increasing share holders value) was put at a 83% and the general failure rate put some between 40 – 80% in a 1999 survey (Porter, and Warsh 2002) suggests that up to 65% of failed mergers and acquisition are due to “people issue” i.e. intercultural difference causing communication breakdowns that results in poor productivity.

In addition, Leis (2002) opined that sever factors contribute to this dismal statistic. These failures are not usua.lly caused by outside factors like the market competition, high purchase premium or excessive beverage, rather, the failure has three primary causes disparate management styles organization, culture difference and clashes in decision – making processes. According to him, the biggest challenge in handling the human side of the merger equation. People issues ultimately drive performance can censure a majority of operating cost.

Business combination in Nigeria until recently are not a major feature although a couple of companies compelled by their global affiliations have been involved in merger schemes, however the consolidation drive of the central bank of Nigeria (CBN) is increasingly, popularizing the practice of mergers and acquisition in Nigeria both in the banking and corporate sector. In view of this current trend, it would help prevent the high rate of consolidation failures while helping to enhancing corporate failures.

1.2    STATEMENT OF THE PROBLEM

The harsh and dwindling economic conditions today have created a bleak growth prospect for most corporate organizations in Nigeria. These harsh economic condition

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