AN APPRAISAL OF BUDGETING AS A TOOL FOR EFFECTIVE CONTROL IN PUBLIC SECTOR. A CASE STUDY OF POWER HOLDING COMPANY OF NIGERIA
TABLE OF CONTENTS
Table of contents
CHAPTER ONE: Introduction
- Statement of Problem
- Objectives of the study
- Significance of the study
- Statement of Hypothesis
- Scope and limitations of the study
- Definition of Terms
CHAPTER TWO – Literature review
2.1 Overview of Human Resource Management
2.1.1 Significance of Human Resource Planning
2.1.2 Aims of Human Resource Planning
2.1.3 The Relationship between Human Resource Development and Business Planning
2.1.4 Method and Techniques of Human Resource Development
2.1.5 Training in the Context of High Performance Work Organization
21.6 The Role of Training in High Performance Work Organizations
2.1.7 Training as a Component of Performance Improvement
2.2 Overview of Material Resource Management
2.2.1 Materials Control
2.2.2 Purchasing (Procurement)
2.2.3 Stock Ordering
2.2.4 Types of Stocktaking
2.2.5 Benefits of Stocktaking
2.3 Overview of Financial Resource Management
2.3.1 Objectives of Financial Management
2.3.2 Effective Financial Management in an Organization
2.3.3 The Role of Financial Managers
2.3.4 Role of Financial Management in the Public Sector
2.4 Role of Resource Management in an Organization.
CHAPTER THREE – Research Methodology
- Description of Research Method
- Description of the Population
- Description of Sample Procedures
- Description of Research Instrument Used
- Description of Data Gathering Procedure
- Description of data Analytical Procedure
CHAPTER FOUR – Data Presentation and Analysis
4.2 Data Analysis
4.2 Test of Hypothesis
CHAPTER FIVE – Summary, Conclusion and Recommendations
CHAPTER ONE: Introduction
Increasing competition is continually pushing businesses towards more efficient processes, and slimmer margins. Highly capitalized industries have to ensure that their resources are used most effectively. Yet at the same time, businesses must adjust to rapidly changing customer requirements and supply chain conditions. The key to achieving operational excellence, therefore, is in the effective and flexible management of resources, and this means optimizing and scheduling people, processes, vehicles, equipment, and materials so that utilization is maximized while business goals are met.
Rowden (1995) define resources management as the process of using a company’s resources in the most efficient way possible. These resources can include tangible resources such as goods and equipment, financial resources, and labor resources such as employees. Resource management can include ideas such as making sure one has enough physical resources for one’s business, but not an overabundance so that products won’t get used, or making sure that people are assigned to tasks that will keep them busy and not have too much downtime.
The wealth of any organization is to a very great extent determined by its human resources. The place and value of human effort as a resource for any organizational productivity, efficiency and effectiveness in operation cannot be over emphasized. This capacity building developing and maintaining well trained, skilled experienced and quality human resources that will carry out the various task of the organization becomes an issue of importance.
One of the major constraints to organizational development is lack of adequate and effective managed human resources. It was not surprising therefore when the third national Development Plan of the Osuji 1975 – 1981 as aptly documented by Zahradeen (1980) echoed that successful implementation of a development plan either at organizational level, or national Level depends not only on the availability of financial and other capital input, but more importantly on the adequacy of well trained, and managed human resource in various occupation.
Ugbana (1986), most of the organizations both public and private are beginning to realize the significance of material management. In most organizational balance sheet, it would be seen that the materials carries the lion share of the total expenditure representing about seventy percent (70%) of the organizational resources while cash represent twenty percent (20%) and other forms of the organizational expenses carried ten (10%). But amazingly it is found that most organizations takes good care of cash by providing it with high security than materials irrespective of its highest share of organizational resources.
This should not be so; materials which have the lion share of the organizational resources should be provided with adequate security and should be managed properly by competent and efficient personnel (Ammer 1996). At the wake of 20th century many organizations had recognized the role of materials and most material activities were carried out by autonomous department such as purchasing, warehousing, stock control, and distribution which at the same time was creating problems.
In Nigeria there has been series of changes in the managerial capabilities and operations towards financial management with the recent years, the noticeable changes are complex. Eminent Nigerians of various caliber have dealt with the failure trend to financial management of enterprises in Nigeria from deferent perspectives, for example, the banking industry has experienced problem of various types such as fraud, mismanagement of funds which leads to poor overall performance. There and other problems formed the basis for inadequacies in financial management.
Some analyst has classified these causes in a member of ways as factors militating against proper financial management and progress in privately owned enterprises in Nigeria.
As development proceeds and the structure and organization of the economy become increasingly complex, the failure of financial management assures increased complexity. As many factors have been identified it will enable the researcher to ask how and why these causes have surfaced. What are the conditions for proper financial management
It is against this background that the researcher investigates the role of resources management on organizational development.
1.0.1 Brief Historical Background of Power Holding Company of Nigeria (PHCN) Plc.
Electric Power Development in Nigeria started towards the closing year of the last century when the first generation plant was installed in the city of Lagos in 1898 from this date onwards and until 1950 the pattern of electricity development was set up at various towns, some of them by the Federal Government the Jurisdiction of the public works department and some by the Native Authority and one or two large Municipal Authorities.
Electricity Corporation of Nigeria 1950 in order to integrate power development and make it effective the Government passed the Electricity Corporations of Nigeria ordinance No. 15 of 1950. This ordinance brought under one control, all the electricity undertakings which were under the public departments and all those undertakings which were under Native Authority or municipal ownership and control. The Electricity Corporation of Nigeria, usually referred to as ECN, then became the statutory body responsible for generation, transmission, and distribution and sales of electricity to all consumers and customers in Nigeria.
Niger Dams Authority
The Niger Dams Authority was established by an Act of parliament in 1962. The Authority was responsible for the construction and maintenance of Dams and other works on the River Niger and elsewhere generating electricity by means of water power improving navigation and promoting fisheries and irrigations construction of the Kainji Dam which began in march 1964 was completed on schedule in Dec 1968.
Nigeria Electric Power Authority
In September 1969 the Federal military Government decide to merge the Electricity corporation of Nigeria and the Niger Dams Authority into a Single body. A year later a Canadian firm of consultants “Shawment Lurruted” was appointed to look into the technical details of the merger. The report was submitted on November, 1971 by Decree No. 24 of 27th June 1972 (which become effective from 1 April, 12972).
The Electricity Corporation of Nigeria (ECN) and Niger Dam Authority (NDA) were merged to become the National Electric Power Authority (NEPA).
The actual merger did not take place until 6th January 1973 when a General manager was appointed. The decree stipulates that the authority is to develop an d maintain an efficient, coordinated and economical system of electricity supply for all parts of the federation.
Prior to privatization programmes that was introduced during the regime of former President Chief Olusegun Obsanjo the company was privatized and subsequently, the named was changed to Power Holding Company of Nigeria Plc.