AN INVESTIGATION INTO RECORDS MANAGEMENT IN SELECTED BUSINESS ORGANIZATION(A CASE STUDY OF CONSOLIDATED BREWERIES PLC.).
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The ever-increasing volume of records being created as well as the rapidly increasing costs of maintaining these records necessitate the utilization of efficient records management. The smooth functioning of an organization is greatly dependent upon the efficient utilization of information. For any business organization to survive, progress, and continue in existence, there must be records of the part issues, events, stories, etc., which must be kept and also maintained.
This is further buttressed by Oliverio and password (1977) that all records will be important to the contained successful operation of your firm. The records become part of the memory of the organization. Not only does the record provide the history of the transaction but also form the basis for future decision.
Records refer to the informational documents utilized by an organization in carrying out its various functions. It is generally used in the office to refer to documents, specific information, and data that form the basis of an organization’s operations and transactions.
Types of records commonly utilized include forms, letters, memorandums, reports and manuals, and minutes of meetings. It is also used to refer to those documents from which a business organization derives its legitimacy, powers, and substation like acts of parliament, memorandum of association, certificate of incorporation, etc.
Records management is one of the fundamental functions of a record officer in an organization. It is therefore the art and devices employed to capture and control the records of an organization.
Elendu O. Elndu (1985) described records management as a means of making use, controlling, and the disposition records so that the systems work efficiently and economically. This means that the basic concept of records management involves the control of recorded information from the original creation to the ultimate disposition.
The records cycle beginning with the creation of records involves the use, maintenance, preservation, protection, and finally disposition. In the same vein, a records management program refers to a system designed to control and administer the organization’s records.
Every business organization receives all sorts of records every working day, there is no doubt that if these records are not properly taken care of, the whole office space will be flooded with papers and this will eventually cause inconvenience for the workers.
According to Denyer (1994), he said, it is the foundation of a good filing system that when records become inactive they should either be destroyed or transferred to reserved storage. Records management is not concerned with the technique and facilities for data manipulation but it focuses its attention on the captured data and means and methods for its efficient capture and later exploitation.
There are three principal functions of records management, these are spelled out in the Encyclopedia of management (1973) as follows:- adequate records management system program deals with three aspects of organizations records handling, creation, maintenance, and disposition.
As said earlier in this study, these principle functions are also the basic concept of records management covers all devices and means used to obtain data or information, keeping and safeguarding it in an easily retrievable place and manner, producing it when required, and protecting it until it is no longer useful and therefore disposable.
All business firms keep records. this is true for small, solely owned businesses, such as Eme’s Retail Store, as well as for giant corporations, such as consolidated breweries Plc. Businesses keep records for three major purposes:
To operate the business on a day-to-day basis, for example, companies must make sure that customers’ orders are filled and that bills are sent promptly. To manage and control the business efficiently, managers must know how much business the company is doing and how much it costs to do the business.
To prepare reports for shareholders and government agencies. For example, most companies file income tax returns more than once a year. Although the amount of records kept varies with the size and type of business, all businesses must keep records of certain information or data. The collecting, classifying, summarizing, reporting, and storing of the information is called data processing.
The people and machines used to process data are called data processing systems. There are three basic ways to process data:
Manual Data processing: – With this method, all the work is done by hand, usually by a bookkeeper. Machine Data processing: – With this method adding machines and calculators are used to process business records. Electronic Data Procession (EDP): – This method uses electronic computers to process data quickly.
Most data processing systems today combine at least two of these methods. None of these systems are automatic. Since some of the work must always be done by hand (manually).
What is a computer: – A computer is an electronic tool capable of accepting data, interpreting data, performing an ordered operation on data, and reporting on the outcome of this operation (Gary 1986).
The data that a computer processes may be numbers, letters, or even sounds.
It is turned into electrical impulses so that the computer can sort it, change it, or do arithmetic with it. For example, when we add two numbers, we are processing them in a specific way. The computer cannot decide for itself what to do with the data information given to the computer, it is a machine.
Data and Information
The term information is often used as if it were just another name for “data”. Data refers to a collection of unprocessed items, which on their own do not convey any meaning.
Whereas information is the outcome of processed data items. A data item may be defined as the smallest unit of named data having a definite size (e.g. the number of characters that comprise it). Data and information are illustrated below:
DATA INFORMATION
CHIDI
15
BUS
JOY, JAMES
ENUGU
12
Chidi is eighteen today
He lines at 111 Aba Road
The city bus is 16 yards long
Joy and James are related
Enugu is in Enugu State
There are 12 months in a year
Through this process, otherwise meaningless pieces of a data item are logically organized to convey information. Data processing is a process of converting unprocessed (raw) data into information or a definite meaningful result.
Concept of management information system (MIS). A management information system (MIS) is a mechanism designed to collect, combine, compare, analyze, and disseminate detain the form of information. Management information system seeks to gather data in an accentual location where it can be meaningfully processed to generate information for managerial decision making.
It provides managers with a structured means for presenting past, current, and projected information gathered from various sources. A properly functioning management information system provides such information continuously (Arther Bedcian 1986).
For any information to be of value, it must be timely, that is within, the line frame it is needed by the recipient. It must be accurate, this means the degree of absence of error in the information. It must also be accessible – the cast and speed with which information can be obtained.
It should also be free from bias, there should be no alteration or modification to influence recipients. And above all, information should be clear to the user, that is, it should not be ambiguous.
Establishment of MIS:
The establishment of a management information system requires the efforts of managers at all levels of an organization and may take several years to complete. The real test of an MIS is its ability to provide information of value that people will use. The steps followed in establishing an MIS as described by Burch et al 1984 are as follows: –
Step One: System Planning:
The first step calls for a requirement survey.
A comprehensive description of information needs should be prepared from the intended user’s a formal statement of what is gained by establishing a management–formation system.
Step Two: System Design:
This step includes the technical task of development.
The necessary task typically includes structuring the necessary database, defining information flow, and determining report requirements.
Step Three: System Implementation:
As system specifications are decided in step two, the job of making it happen now becomes the primary concern …..
Equipment must be purchased, facilities renovated, necessary data–processing resources obtained, and information system personnel hired and/or trained.
Step Four: System Evaluation:
The fourth step which never ends allows an organization’s management information system analysts to assure that a system is accomplishing the goals originally set in step one. This is the time for refining modifying, and adding to any aspects of a system design that may become problem areas.
Records management takes cognizance of the organization and layout of the office, size of the firm, the scope of operation of the firm, adequate filing system, comprehensive knowledge of all complex technology of information management, availability of essential equipment, and trained personnel t operate the system.
The efficiency of an organization is largely dependent on the effectiveness and efficiency of its records management system. An effective filing system is a prime requisite for a successful operation.
An incorrect and obscure filing system can cause delays in obtaining information, thereby resulting in delays in some opportunities.
An incorrect filing system can also lead to outright cancellations of appointments and orders which can lead to a huge loss of money and goo-will. Also, the loss of a document can precipitate wrong decisions which can mar the existence and operations of the organization.
But if the records of an organization are well kept, quick and accurate decisions are enhanced since the data or information are easily accessible ad quickly supplied. In that case, the management has all the facts at its fingertips before embarking on any decision, the management can also art or re-art to any situation promptly, this saving various opportunities, time, and money.
With the increased importance and use of records management, Carl Heyel (1973) classifies all records and documents of any organization into two broad categories namely: transaction documents and reference documents. Under transaction documents, we have orders, invoices, cheques, services supplies, etc. this forms over 75% of all total records. Reference documents on the other hand consist of reports, research data, marketing information, books and brochures, legal documents, etc.
These documents are meant to show the way to minimize errors on the part of the organization. The emergence of data processing has resulted in a new application in the storage and retrieval of information.
Before organizations utilized data processing, storage and retrieval of information involve tangible documents, but with data procession, a considerable amount of information is stored on magnetic tapes, drums, or disks, by a process known as electronic filing.
These new methods of storing and retrieving information have been developed and add a new dimension to the records management function. Dallas and Thompson think that computers have made a tremendous impact on office work since they can internally store programs and provide security on processed data (information).
Indeed, the invention of computers and other electronic devices has brought about a kind of revolution in records management systems. Taking cognizance of all the above points enumerated, this project was focused on the investigation into records management in Consolidated Breweries Plc. This inquiry was based on the effective operation of records management to ensure accountability and minimize fraud and embezzlement.
1.2 BRIEF HISTORY OF ORGANIZATION OF THE CASE STUDY
Consolidated Breweries Plc. was incorporated o 26th November 1970 under the name Independence Brewery Limited, by the then Eastern Nigeria Development Corporation (ENDC), the investment are by the government of the then Former Eastern Region of Nigeria. The construction of the first brewery commenced on 1st December 1968. And was completed on 30th September 1969.
On 19th December 1969, the brewery of Lager Beer commenced and in November of the same year, Consolidated Breweries Lager Beer i.e. (33 beer) was launched into the Nigeria market. It began producing its second product – Royal Malt in 1972, thereby becoming one of the breweries producing Malt in the country at that time.
On 17th June 1975, the company change its name to Consolidated Breweries Ltd. As a result of the reconstruction of the country into the States, the ownership of Consolidated Breweries Limited passed from the east-central state government s to the Imo State Government in 1976 precisely.
Consolidated Breweries Plc. became a publicly quoted company listed on the Nigeria stock exchange in 1978 when Imo State Governments holding was reduced to 51% of the company equity.
In 1980, the shareholding of the Imo State Government was reduced again to 25.5% of the company’s equity. The Imo State Government holds 8.9%, and the company has about 2500 Nigerian shareholders holding 90.1% of the company’s equity while 90.1% of the company’s equity is held by Non-Nigerian Association and Citizens.
Consolidated Breweries Plc. is in the beverage industry and its objective is to continue satisfying the requirement of consumers with a high-quality beverage. The company’s products are 33 Lager Beer and Royal Malt.
Consolidated Breweries Plc. receives technical assistance from Holsten Braner AG Hamburg, especially in the area of new improved production processes and equipment, research into raw materials constant equity assurance, and innovative marketing technique.
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1.3 STATEMENT OF THE PROBLEM
According to Carl Heyel 91973) a properly developed records management program is a comprehensive and orderly effort to control the creation, maintenance, and final disposition of all the organization’s records without regard to the form and manner in which they are created and retained or to the circumstances of their creation or accumulation.
Owing to the above statement, the organization finds it difficult to process and retrieve all the information effectively resulting in various lapses every year. It is either that some files are omitted or files are misplaced. In the organization, the filing system is extremely difficult.
The office has not been able to cope with the requirements for maintaining an efficient filing system. G. Mills and O. Standford (1979) stated that the maintenance of an efficient filing system is one of the perennial problems of the office, and its solution demands the office, and its solution demands to understand principles …
That is why a careful study of the files reveals instances where one person’s name appears in different files in the organization. This has very serious financial and administrative implications.
AN INVESTIGATION INTO RECORDS MANAGEMENT IN SELECTED BUSINESS ORGANIZATION(A CASE STUDY OF CONSOLIDATED BREWERIES PLC.).
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