RESOURCES MANAGEMENT AND CONTROL IN BUSINESS ORGANIZATION IN RIVERS STATE
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RESOURCES MANAGEMENT AND CONTROL IN BUSINESS ORGANIZATION IN RIVERS STATE
Chapter One: Introduction
1.1. Background of the Study
The modern company manager works in a more dynamic setting. The business climate has evolved quickly and unpredictably. Economic variables have been complex in both form and impact on Nigerian company practices, since consumers and clients have demonstrated complex behaviours in both local and foreign marketplaces.
The greatest significant transformation has been caused by competitive pressure. Competitors have used one strategy or another to adapt to the changing and unpredictable nature of the business environment.
The most major influence on organisational policy and strategy in business organisations is the question of resource management and control (Duncan, 1972; Grant, 1999).
The growing demand for these resources, combined with a scarcity of supply, makes them a must-have for many Nigerian consumers and business owners. Africa has been endowed with countless resources
all of which contribute to its progress and development. With such huge resources and money accumulated via their commerce, resource management is critical.
According to Oronto (2003), resources include not just natural resources such as oil and gas, but also land for cultivation, water for fishing, forest for harvesting, air for breathing, and other physical and spiritual biota.
When resources are correctly managed, they promote company growth and economic development, eliminate poverty, and benefit the country’s economy as a whole. The concept of resource management is closely related to that of resource control, and proper resource management entails accountability for how these resources and wealth are utilised.
It has been observed that resources have been a blessing for some and a curse for others, particularly in the areas from which these resources originated, and that people in these regions live below the poverty line, experience poor economic and business growth, and have a lower standard of living when compared to other parts of the country that benefit from the majority of this wealth; this could be due to poor resource management.
1.2. Statement of the General Problem
The poor performance of enterprises in Sub-Saharan Africa, particularly in Nigeria, has been a major source of concern. Unfortunately, bad company performance is frequently associated with inadequate resource control and management, which has resulted in Nigeria’s dismal economic development.
1.3. Objectives of the Study
The study’s primary goal and objectives will be to assess resource management and control in corporate organisations in Port Harcourt. This study aims to assess corporate managers’ ability to manage restricted resources prudently.
2. To assess the level of company growth and success in Port Harcourt.
1.4. Research Questions.
1. How do businesses in Port Harcourt handle their resources?
2. How prudent are Port Harcourt’s business managers and owners?
3. What is the state of business growth in Port Harcourt?
1.5. Research Hypothesis.
H0: Business managers in Port Harcourt fail to efficiently manage resources.
H1: Business managers in Port Harcourt effectively manage their resources.
1.6. Significance of the Study
This study would tremendously aid business managers, captains of industries, managing directors of large business in terms of business management and deployment of precious resources in firms.
This study would also be of tremendous help to academics and students who are interested in business administration and management.
1.7. Scope of the Study
This study focuses on resource management and control in commercial organisations in Port Harcourt, Rivers State.
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