- AN EVALUATION OF MANAGEMENT ACCOUNTING TECHNIQUES ON ORGANIZATION DECISION MAKING PROCESS (A CASE STUDY OF CADBURY NIGERIA PLC, IKEJA, LAGOS)
- EFFECT OF BUSINESS STRESS ON THE PERFORMANCE OF SMALL SCALE ENTERPRENUER
- THE EFFECT OF FORWARD INTEGRATION ON PERFORMANCE OF MANUFACTURING INDUSTRY (A STUDY OF CADBURY NIGERIA PLC)
- THE EFFECT OF GOVERNMENT EXPORT PROMOTION POLICIES ON THE DEVELOPMENT OF EXPORT BUSINESS IN NIGERIA (A STUDY OF THE NIGERIAN EXPORT PROMOTION COUNCIL [NEPC])
- EFFECT OF MANAGEMENT BY OBJECTIVES ON ORGANIZATION PERFORMANCE (A CASE STUDY OF VITAMALT PLC)
- THE EFFECTS OF ENVIRONMENTAL FACTORS ON BUSINESS LOCATION (A STUDY OF CADBURY NIGERIA PLC)
- EFFECTS OF SMALL BUSINESS ENTERPRISES ON EMPLOYMENT GENERATION IN NIGERIA (A Case of Isimeme and Sons Nigeria Limited)
- ECONOMIC EFFECT OF ADVANCED FREE FRAUD IN THE BANKING SYSTEM IN NIGERIA
- IMPACT OF PRIVATIZATION ON BUSINESS DEVELOPMENT IN NIGERIA CASE STUDY OF POWER HOLDING COMPANY OF NIGERIA
- STRATEGIC APPROACH TO THE MANAGEMENT OF SMALL BUSINESS ENTERPRISES IN NIGERIA (A Case Study of Evarmila Nigeria Enterprise, Lagos.)
THE EFFECT OF DECISION MAKING PROCESS IN A BUSINESS ORGANIZATION (A CASE STUDY OF GUINNESS NIGERIA PLC)
This research work is conducted to determine the effect of decision making process in a business organization performance (a case study of Guinness Nigeria Plc, Benn City). Dec/s/on is dynamic process in any organization. It is imperative to state that the style adopted by any organization can affect the worker’s motivation positively or negatively. This prompted the researcher into trying to find out the effect of decision making process in a business organization performance. This is very important since the achievement of the organization’s objective can be affected by decision making. This study revealed that perception of .a management decision by workers could affect the growth and expansion of the organization. The overall managerial atmosphere can also affect the decision making. It is in view of this that the researcher commends urgent installation of computers for each department for processing in formation and data necessary fro decision making and adopts the participative method of decision making process.
TABLE OF CONTENTS
Title Page i
Table of Contents vi
Chapter One: Introduction 1
1.1 Background of the Study 1
1.2 Statement of Problem 2
1.3 Research Questions 4
1.4 Research of Hypotheses 4
1.5 Objective of the Study 5
1.6 Scope of the Study 6
1.7 Significance of the Study 6
1.8 Limitation of the Study 7
1.9 Operational Definition of Terms 7
Chapter Two: Literature Review 9
2.1 Definition of Decision Making 9
2.2 Types of Decision 10
2.3 Decision Situations 13
2.4 Decision Making Techniques 15
2.5 Decision through Operation Research 21
2.6 Decision Making Process 26
2.7 Improving the Effectiveness of Decision 35
2.8 General Implication of Decision 38
Chapter Three: Research Methodology 39
3.1 Research Design 39
3.2 Population of the Study 40
3.3 Sample/Sampling Procedure 40
3.4 Method of Data Analysis 41
Chapter Four: Data Presentation, Analysis and Interpretation 43
4.1 Introduction 43
4.2 Presentation of data 43
4.3 Data Analysis 45
4.4 Hypotheses Testing and Interpretation of Result 47
Chapter Five: Summary, Conclusion and Recommendations 54
5.1 Summary of Findings 54
5.2 Conclusion 55
5.3 Recommendations 56
Appendix I 60
Appendix II 61
1.1 Background to the Study
Decision making whether in private life, clubs government, military, educational institutions or in business organizations have the same essential functions. It is primarily a tool for problem solving.
It is a daily phenomenon, which every rational human being cannot avoid. Decision making could involve such simple and uncomplicated issued as deciding on what to take for breakfast or selecting an outfit to wear to a dinner party. It could also involve complex and strategic issues such as an entrepreneur deciding on when and how to carry out attack.
However, whatever issue is involved there is one central point which cannot be ignored which is the existence of various alternatives relevant to the problem from which the decision maker must chose one i.e. the best among all the alternatives. This choice demands a conscious and deliberate effort on the part of the decision maker.
Traditionally, people rely on judgement and intuition in making decisions. In the modern context as a result of advancement in technology, science and business development, a systematic and consistent way of making optimal decision has been developed. This is a complex process of decision making which makes use of highly qualitative tools such as mathematical models, computer, etc. The use of judgement and intuition is still relevant in the modern context in that they serve as compliment to the scientific approach.
Decision making is so important in our daily lives that adopting liaise-fare attitude in the formulation could result to a grave consequence. Governments are known to have fallen because of wrong decisions. Also another wise business unit could be crippled into bankruptcy because of wrong decision. Therefore, for any individual, corporate body or government to function well, sound decision is imperative.
1.2 Statement of Problem
Making decisions demands recognizing the basic fact that a situation exists which calls for a change. This change when effected in bound to affect others. In other words, decision making affect group objectives. This is why people tend to resist new decisions especially in a business organization. This is so because workers have various objectives, which narrows the workers/ organizational objective
There is no better way to do this than to follow a logical sequence of decision making, making use of all available modern techniques in gathering and analyzing information. The benefit of doing this is to outstrip the cost is terms of both medium and long range benefits accruing.
1. How does decision making affect the operations of Guinness Nigeria Plc, Benin City?
2. How do workers react to decisions made by the management?
3. What role has decision making played in the motivation of the workers?
4. How are decision made is Guinness Nigeria Plc, Benin City? Are they democratic or autocratic?
1.3 Research Questions
The following are the questions gotten from the study of the project work:
1. Dose decision making processes in business organization affect workers performance?
2. How can the workers access the quality of decision making in the organization?
3. Does decision making affect the operation of the organization?
4. Does the organization inform the employees before taking routine decision?
1.4 Research Hypothesis
This research is motivated by the desire to move the validity of some basic assumptions on the effect of decision making process in business organizations such hypothesis formulated include:
HO: That there is no significant relationship between organization’s objectives and decision making.
HI: That there is significant relationship between organizations’ objective and decision making.
HO: That there is no significant relationship between worker’s attitude to work and decision make by management.
HI: That there is no significant relationship between worker’s attitude to work and decision make b management.
HO: That there is no significant relationship between motivation of workers and decision making
HI: That there is no significant relationship between motivation of workers and decision making.
1.5 Objectives of the Study
1. To determine whether decision making affects the objectives of Guinness Nigeria Plc, Benin City.
2. To find out whether workers react to decisions make by management.
3. To also find out the role decision making plays in the motivation of the workers.
4. To ascertain whether decisions make in Guinness Nigeria Plc, Benin City are democratic or autocratic.
1.6 Scope of the Study
This research work is restricted to the examination of the basic concepts of decision making with specific reference to business organization. The researcher would as from time refer to the mathematical models. Actual mathematical models, actual mathematical calculations would be indulged into this topic. The researcher would examines the following concept.
1. The meaning of decision making
2. Type of decision
3. Decision making process
5. Improvement of decision making process
Though there are many organizations in Nigeria, the researcher chooses to limit this study to Guinness Nigeria Plc, Benin City.
1.7 Significance of the Study
The significance of this study is to serve as a guide to business organization on how to make useful and worthwhile decisions by exposing them to the various method and processes involved. This work is equally of value to the casual readers who are interested in providing more about the concept of decision making.
It is hop that this study will make concrete recommendations on the decision making process in business organization and also form the basis of decision making process in business organization.
1.8 Limitations of the Study
There were series of problems or obstacles to this study in the course of carrying out this research. Many of the questionnaires administered were not returned. There was also difficulty in scouting for books that is relevant to the topic.
1.9 Operational Definition of Terms
Decision: A decision is the selection of alternative course of carrying out alternatives.
Decision Making: This is the process o identifying and selecting a course of action to solve a specific problem.
Organization: An organization is a group of people bound together to provide unity of action for the achievement of a predetermined objective.
Business: A business is any legal activity with sole aim of providing goods or services for the satisfaction of consumers at a profit.
Process: This is a connected series of actions.
Management: Those concerned in managing an industry, enterprises, etc.
Strategic Decision: These are decisions which are concerned with external rather than internal problems of the firm.