Investment in Printing Business Accountability and Profitability
Chapter One
OBJECTIVE OF THE STUDY
The research objectives are:
- To make necessary recommendation
- To give a proper cost analysis on how to setup a printing business.
- To prepare the investment of a printing business
- To give a proper record on how to carry out implementation of setting up a printing business.
CHAPTER TWO
REVIEW OF RELATED LITERATURE
Introduction
The study is anchored on the theory of technological determinism which assumes that each new medium of communication alters the patterns of perception steadily and without any resistance affects the individual engagement with the medium and affects the cognitive functions of those who use it, thereby causing inevitable change in culture (McLuhan 1974). In connection with this study, it is observed that advancements in digital technologies are constraining printers all over the world to modify their business models, practices and processes; and these changes are increasingly becoming inevitable. In a study that investigated the changes currently taking place in America’s printing industry, Romano (2004) found that changes have taken place in the use of colour, digital links to customers, digital printing, structure of demand, off-shoring, technology integration, e-commerce, elimination of film from the production process, work flow, cross media production and migration of contents to non-print platforms. In Nigeria, the business of printing has been an important aspect of the economic system since 1846 when Christian missionaries installed the first printing press in Calabar. Since then the adoption of printing technology has progressed from letter press machines to off-set printing until printers began to import digital printing machines, from about the year 2003 (Uchenunu, 2005).
Globally, competition in the area of printing equipment is increasing by the day and German, Indian and Chinese manufacturers are currently competing for shares of the Nigerian printing technology market (African Courier, 2010). In addition to this, the Chartered Institute of Printersof Nigeria estimated that the country loses over 10 billion naira annually, to foreign outsourced printing jobs, suggesting that the country is losing out in terms of global exchanges (Obidiegwu, 2009). On the other hand, printers in Europe and America are not only adjusting their business models, they are also beginning to project into the future and to research the effects of such technologies on product life cycles in the printing industry (Bousquin, Esterman& Rothenberg, 2011). The objective of such studies is to gain a clear understanding of the threats and opportunities to expect from the evolving electronic publishing industry. Unlike their European and American counterparts who have taken advantage of new technologies to reach out to the world market, Nigerian printers seem to rely more on cross-border outsourcing to Indian and Chinese printers. In fact, it is currently estimated that printing business in Nigeria is 90% import-dependent. This, according to Fashanu (2008) is so because the greater percentage of the imported materials is paper. Thus, printing Nigerian books and magazines in paper-producing countries reduces the cost of production but depletes the nation’s foreign exchange reserve. Of great concern to scholars is the fact that some printers who engage in such outsourcing practices, hardly pay attention to the adoption of the enabling facilities locally. For instance, Ofori-Mensah (2008) found that many printers and publishers do not have e-mail addresses and websites. In his words, “many who supposedly have functional e-mail addresses do not access them, and if they do, they take forever to respond to mails” (Ofori-Mensah, 2008:29).
Without adopting such innovations, it would be impossible for local printers to help the nation to compete in today’s global publishing market. This is because the print products meant for the international market must have first class quality in terms of cover design, paper, impression and finishing (Alabi, 2008).One of the major innovations helping printers to play a role in digital distribution of content is the Print-on-Demand (P.O.D) machine. Jay (2010) explains that a good number of African Publishers (32 from Nigeria) currently market their books through the African Publishers Network, APNET, using such P.O.D machines located in Europe, America and Asia. Acquisition of such a machine by local printers and institutions will be of a great value to the entire printing and publishing industry in Nigeria.
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
POPULATION OF THE STUDY
According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitutes of individuals or elements that are homogeneous in description.
This study was carried to examine investment in printing business accountability and profitability. Selected printing company in Onipanu form the population of the study.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain investment in printing business accountability and profitability. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of investment in printing business accountability and profitability.
Summary
This study was on investment in printing business accountability and profitability. Three objectives were raised which included: To make necessary recommendation, to give a proper cost analysis on how to setup a printing business, to prepare the investment of a printing business and to give a proper record on how to carry out implementation of setting up a printing business. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from selected printing company in Onipanu. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
Sources are selected to identify the root causes of commercial print contraction and identify technologies and best practices for reducing cost in commercial print environments. To deal with the threat of offshore outsourcing, printers are trying to either focus on “safe” products, introduce new services, or offshore themselves. For the former two strategies, comparing our interviews with the survey data, it is not clear that printers have a good understanding of what the “safe” products and services are. For the latter strategy, very few printers are taking advantage of lower offshore costs. This is due to fears about its implications for customer and employees, lack of knowledge about how to explore this option, and overall feelings of patriotism. Those that have offshored have enjoyed benefits above and beyond lower costs, including increased quality. Complicating this picture is the fact that the costs and benefits of offshoring are likely to change
Recommendation
As accountability is the hallmarks for good governance, if Nigeria is to a member of the twenty most developed nations of the world, political office holders, citizens and all stakeholders in the Nigerian project should embrace integrity, transparency and accountability in the management of public funds.
References
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