Project Abstract

Project Overview

<p> </p><div><p><b>1: INTRODUCTION</b></p><p><b>1.1 &nbsp; &nbsp; </b><b>BACKGROUND<br>OF THE STUDY</b></p><p><b></b></p><b><p>Management<br>activities in the business world are directed towards achieving an ample share<br>of the industry and ultimately control of, if possible, the direction towards<br>which the industry moves. Towards achieving this, various managerial techniques<br>have to be put in place. The business world is highly competitive. Thus all<br>businesses must strive towards putting in place, policies that would greatly<br>increase sales volume while maintaining quality and the quality of service<br>delivery.<b></b></p><b><p><b></b></p><b><p>This trend<br>has been in existence for generations and would continue to be. It has been<br>largely responsible for the various challenges facing captains of industry<br>world-wide; the scramble to ensure that the various goods and services offered<br>by them achieve the highest standard of quality and cost effectiveness. This<br>becomes more critical in light of technological advances that have put before<br>the customer, an array of goods of very high quality.<b></b></p><b><p><b></b></p><b><p>Every<br>investor expects dividend from their investor, just as customers expect value<br>for their money. Due to ever<b></b></p><b><p><b></b></p></b></b></b></b></b></b></div><b><b><b><div><p>increasing alternatives, it is<br>pertinent for producers to ensure that qualitative and cost effective goods are<br>produced in order to increase patronage and generate more income. These may<br>however not be possible without a qualitative management technique; hence the adoption<br>of Total Quality Management (TQM) becomes pertinent.</p><p>TQM became a source of unification of visions and ideas<br>across the organization to ensure the successful execution of the mission, even<br>though TQM at that time was a novel idea to the organization.</p></div><div><p>TQM as adopted by FIRST BANK Plccan be described as the navigational aid<br>for the successful berthing of FIRST BANK <br>Plcat the pinnacle of New Generation Banks in Nigeria.</p><p><b>1.2 &nbsp; &nbsp; </b><b>STATEMENT<br>OF THE PROBLEM</b></p><p><b></b></p><b><p>For a long<br>time now, business institutions in Nigeria have been faced with various<br>problems, top of which are mismanagement and lack of top quality goods. These<br>problems resulted in for instance, the failure of many banks from the late<br>1980s into the early 1990s. Customers lost deposits many had worked all their<br>lives for. Other sectors, like the manufacturing sectors have also been<br>affected by the scourge of mismanagement and disregard for quality. Many of<br>these organizations especially those in the banking industry reorganized<br>themselves after the problems they faced during this period. But they also had<br>to put structures in place to ensure that what caused their initial demise did<br>not reoccur. One of the strategies adopted was Total Quality Management (TQM).<br>The focus was now on the customer and what to do to satisfy them, rather than<br>the ‘bottom line’. The adoption of TQM has gone a long way towards improving<br>management processes and service delivery and has helped restore the confidence<br>of the populace in the banking industry.<b></b></p><b><p><b></b></p><b><p><b>1.3 &nbsp; &nbsp; </b><b>OBJECTIVE<br>OF THE STUDY</b></p><p><b></b></p><b><p>The objective of the study is to:<b></b></p><b><p><b></b></p><b><p>First of<br>all evaluate the impact of TQM in the Banking industry, using FIRST BANK Plc as a case study and to facilitate<br>awareness of TQM in order to help managements of service organizations to focus<br>on the nature and scale of quality service delivery.<b></b></p><b><p><b></b></p><b><p>Secondly to evaluate the merits of<br>implementation of TQM and to assist management by offering advise on the<br>desirability of the implementation of and ways of achieving the objectives of<br>TQM.<b></b></p><b><p><b></b></p><b><p>Thirdly, to<br>determine the contribution of employees towards the implementation of TQM and<br>determine whether the merits justify the implementation of TQM.<b></b></p><b><p><b></b></p><b><p>And lastly<br>make objective recommendation based on the findings of the investigation.<b></b></p><b><p><b></b></p><b><p><b>1.4. RESEARCH<br>QUESTIONS</b></p><p><b></b></p><b><p>Ø What is the level of TQM in the<br>Nigerian banking industry?</p><p>Ø What is the level of awareness of TQM<br>in the management of the banking sector?</p><p>Ø What are the merits of implementation<br>of TQM?</p><p>Ø What is the contribution of employees<br>towards the implementation of TQM?</p><p>Ø Does TQM improve the scale of quality<br>delivery?</p><p>Ø Is there a significant relationship<br>between the application of TQM in FIRST BANK Plcand its market share, and<br>customer satisfaction?</p></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b></div><b><b><b><div><p><b>1.5. &nbsp; </b><b>FORMULATION<br>OF THE HYPOTHESES</b></p><p><b></b></p><b><p>The<br>following hypotheses shall be tested in the course of the investigations:<b></b></p><b><p><b></b></p><b><p>Ho: There<br>is no significant relationship between the application of TQM in FIRST<br>BANK Plc employee productivity.<b></b></p><b><p><b></b></p><b><p>H1: There<br>is a significant relationship between the application of TQM in FIRST BANK Plc employee productivity.<b></b></p><b><p><b></b></p><b><p><b>1.6. &nbsp; </b><b>SIGNIFICANCE OF THE STUDY</b></p><p><b></b></p><b><p>The primary<br>objective of any business is to create and keep a customer. To this end, TQM<br>can be defined as, “the processes, methods and systems that organizations use<br>to delight customers and at the same time, help reduce costs, increase revenue<br>and empower employees. These methods are not fixed in stone. They grow and<br>develop with time” (MacDonald, J. 1993).<b></b></p><b><p><b></b></p><b><p>TQM is a<br>relatively new management technique that has revolutionized business management<br>and a return to<b></b></p><b><p><b></b></p></b></b></b></b></b></b></b></b></b></b></b></div><b><b><b><div><p>some of the most fundamental ideas of<br>management effectiveness. It is a tool that should serve to enhance the<br>profitability of an organization, with emphasis on total quality from the<br>bottom to the top of management.</p><p>The significance of the adoption of TQM as observed by the<br>researcher indicates improved performance by identifying Service Quality<br>Indicators (SQIs) i.e. those things that ‘irritates’ customers and streamlining<br>their operation in order to eliminate those ‘irritants’.</p><p>It is the intention of the researcher to highlight<br>problems of service delivery in the banking industry and proffer solutions to<br>these problems through the application of TQM. The researcher intends to create<br>awareness about TQM, how it is being applied in the chosen organization, and<br>its effects on customers and employees alike. The effect on staff welfare,<br>motivation, promotion etc will also be highlighted. The researcher expects that<br>the research work will aid in finding headway out of the scourge of<br>mismanagement.</p><p>The researcher hopes the study shall serve as a useful<br>tool for any organization that seeks to implement TQM.</p></div><div><p><b>1.7. &nbsp;<br></b><b>RESEARCH METHODOLOGY</b></p><p><b></b></p><b><p>The data to<br>be to be used for the research shall be collected from <i>Primary</i>&nbsp;and S<i>econdary<br>sources</i>. The primary sources are those that are collected from original<br>sources, in this case, the staff and customers of the bank. The data shall be<br>collected using questionnaires to be issued to a selected number of respondents<br>who have a direct relationship with the bank. For convenience sakes, the<br>researcher intends to give questionnaires to 60 respondents (30 customers<br>irrespective of income level, and 30 employees cutting across all levels of<br>management).<b></b></p><b><p><b></b></p><b><p>The<br>secondary source of data comprises of ready-made information on the subject<br>under study. These include journals, seminar materials, textbooks and the<br>Internet.<b></b></p><b><p><b></b></p><b><p><b>2. &nbsp; &nbsp; &nbsp; <br></b><b>SCOPE AND<br>LIMITATION OF THE STUDY</b></p><p><b></b></p><b><p>Though<br>relatively new, TQM as subject matter is very wide. For the purpose of this<br>research, the study is restricted to FIRST BANK Plc.</p></b></b></b></b></b></b></div></b></b></b></b></b></b></b></b></b> <br><p></p>