Role of Planning and Control to Management Efficiency and Productivity (A Study of PZ Industries Nigeria Plc, Aba)
Chapter One
PURPOSE OF THE STUDY
In view of these PZ industry (Nig.) Plc is been checked to determine the level of planning and control that goes on in the organization. This researcher’s work is being designed to accomplish these objectives stated on his to determine the extent to which planning and control have positively affected Paterson Zochonis Industries (Nig.) Plc. Secondly to investigate the principle procedures and steps on which planning and control should be based to arrive at a course of action that will lead to a specific goal. Thirdly to identify the major tools for planning and control, and how best fools will be effectively used to achieve effective planning and control in PZ industries. And also to determine the extent to which proper planning and control can reduce business failure or distress in PZ industries.
CHAPTER TWO
LITERATURE REVIEW
INTRODUCTION
This chapter trends to look at the review related literature relevant to the study. This was organized under the following subheadings;
An indepth study of the topic reveals the roles of planning and control as the key to management efficiency and productivities.
Planning and Control: Weihrich and Koontz (1972: 57-56) defined planning as selecting mission and objectives and the action to achieve them. It requires a decision making that is choosing among attentive and future course of action. On the other hand Igbochi (1990. 101) defines controlling as a process that measures performance against standard and ensure that organizational objective are been accomplished. Robert et al defined planning as the mental and intellectual work required before physical efforts take place. It allows the administrator to bring together resources effectively in accomplishing objectives McFarland (1979: 160) defined planning as the activity by which administrators analyze present condition to determine ways of reaching a desired future state. It is not necessary for one person or group to perform both activities.
An administrator can plan the work responsibilities and another would standardize the work process. Ekezie (2001: 26) defined controlling as the measurement and correction of the performance of activities of subordinates in order to make sure that all levels of objective and the plans devised to attain them are been accomplished. This is the task of every administrator to ensure that effective control takes place in the organization.
Austin (1974) defined planning as that process that involve two key aspects; developing the objectives or goals and an organization seeking to attain and decide on the means to achieve them. It is necessary for anyone or group to perform both activities.
Administrator can plan the work process:- In another decision a group of administrators would make the policies set the goals within a time horizon through forecasting while the other group would select the procedure and not the work as well as generate alternative programmes of action.
CHAPTER THREE
RESEARCH DESIGN METHODOLOGY
This chapter outline the various methods used in collecting and analyzing data and how the use of these methods will help to increase the validity of the findings and conclusions. The study is based on the facts and the information of the researcher from those involved in the financial management in Paterson Zochonis Industries Plc, Aba.
DESIGN OF THE STUDY
In order to meet the aim and requirement of this project research design of the study provides guideline which direct the researcher toward solving the research problem and it may vary depending on the adopted descriptive survey research which entail collection of data from sampled, population and data analyze.
AREA OF THE STUDY
Planning and control are very pertinent tools for ensuring the efficiency of the management and survival of a business especially where there are lot of unforeseen and uncontrollable variable always pull the organization down.
In the case of PZ Industries questionnaires are been distributed to determines how the role of planning and control enhance the factors of operation.
POPULATION OF THE STUDY
The population covered in this research comprise the number of 300 staff of Paterson Zochonis Industries Plc Aba, who work under the management sections of the company. Although the population should have considered the entire manufacturing firm in the country but it was limited only one firm with many departments or groups. The grouping considered to be relevant to the study were the officers and general managers. These categories of people are more concerned with the responsibility of planning and control in the organization. The researcher also selected some staff from each department at random and administered some questionnaires to them.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
The presentation and analysis of data was based on number questionnaire returned to the researcher of out the one hundred and fifty (150) questionnaires administered to the staff, 30 were not returned show a favourable response. In each case questionnaires were distributed to and collected from both supervisor and senior staff level of the selected group.
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
This research work was designed to appraise and evaluate the role of planning and control towards management efficiency and productivity. In view of inherent failures of some firms to complete their project after committing huge sum of money, and again it focused towards analyzing the reasons why some business organization flourish in the competitive market while other start flipping down with finally collapsing.
With utmost regards to the above statement of the problem the researcher adopted a systematic and descriptive approach in carrying out this study.
The research adopted the random approach in sampling the population for this study one hundred and fifty (150) questionnaires were circularized while the researcher was able to recover one hundred and twenty (120) respondents were used to test the hypothesis and questionnaires, given the problem of the study.
SUMMARY OF THE FINDINGS
The researcher in an attempt to loot at the concept of planning and control in PZ Industries made efforts to review previous literature relevant to this study as can been seen in chapter two. Both primary and secondary data were used in carrying out the findings. The research methodology and how the data was analyzed were show in chapter three.
In chapter four the researcher presented the findings and an attempt was made to analyzed them critically from the analyses carried out, it was discovered that there are various planning and control guidelines used by the firm.
Secondly, it was also noticed that the guidelines of planning and control have not been effectively used in the management and control of funds.
CONCLUSION
In conclusion, after carrying out the research and analysis of data being done was discovered that the planning and control of funds in PZ Industries Plc has been weak and ineffective.
It is on this ground that the following recommendations have been made and if these measures recommended are taken in consideration and implemented, it will go a long way in ensuring effective planning and control.
RECOMMENDATIONS
Based on the finding and educational implications of the study the following recommendations are made;
- Adequate and qualified manager should be employed to handle the firm effectively in the planning and controlling of resources of this enterprise. Good incentives should be given to manager as motivation to effectively apply or use the management guideline.
- The financial performances of there enterprises cannot be assessed without the report of their financial statements. Therefore, the company should be require to submit it’s audited accounts regularly to the corporate affairs commission or any authority it may be accountably to. This will go a long way to ensure that their guidelines of planning are effectively used.
- Efforts should be made by the company to avoid financing long term project with short term loans so that uncompleted projects before their amortization became due and debt service burden will not occur, where debt could both be repaid. On their due date these enterprise can embark on debt dulling.
- Majority of frauds and mismanagement in the company cam be traced to the lapses in the internal control system and the existence of a poor control environment. I therefore suggest that effective control system should be set up for use in the enterprise.
REFERENCES
- Austin, C. (1974): Elements of Management. Onitsha: Africana FEP Publishers Ltd.
- Benson, N. and Nwanna, L. (1993): Introduction to Business. 1st Edition. Onitsha: Onwubike Printing Press.
- Billye, C. (1994): Management Planning and Control. Highstone McGraw Hill International Books.
- Drucker, P.F, (1854): The Practices of Management. New York: Harper and Row Publishers Inc.
- Ejiofor, P. (1981): Foundation of Business Administration. Onitsha: Africana FEB Publisher Ltd.
- Igboeli, G.N. (1990): Management. A Functional Approach Aba 1st Edition Model Academy Publisher Ltd.
- Ihesiudo, S.O. (2002): Principle of Business Finance. Owerri: Barloz Publisher.
- Molokwu, C.N. (1993): Office Administration and Management. 1st Edition Optimal Press Ltd.
