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GOVERNMENT
REGULATION AND CONTROL OF BUSINESS IN A DEVELOPING ECONOMY
TABLE OF
CONTENT
COVER PAGE
TITLE PAGE
APPROVAL
PAGE
DEDICATION
ACKNOWLEDGEMENT
ABSTRACT
TABLE OF
CONTENT
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
1.2 STATEMENT OF THE PROBLEM
1.3 PURPOSE OF THE STUDY
1.4 SCOPE OF THE STUDY
1.5 RESEARCH QUESTIONS
1.6 RESEACH HYPOTHESIS
1.7 SIGNIFICANCE OF THE STUDY
1.8 LIMITATION OF THE STUDY
1.9 DIFFINITION OF TERMS
REFERENCES
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 WHAT IS REGULATION?
2.2 WHY GOVERNMENT
REGULATES AND CONTROL BUSINESS IN A DEVELOPING ECONOMY?
2.3 TOOLS USED BY
GOVERNMENT FOR EFFECTIVE AND EFFICIENT REGULATION AND CONTROL
2.4 HOW GOVERNMENT
REGULATES SUNRISE FLOUR MILLS LTD AND UAC FOODS NIGERIA PLC
REFERENCES
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1 RESEARCH DESIGN
3.2 AREA OF THE STUDY
3.3 POPULATION OF THE STUDY
.3.4 SAMPLE AND SAMPLING TECHNIQUE
3.5 INSTRUMENT FOR DATA COLLECTION
3.6 VALIDATION OF THE INSTRUMENT
3.7 RELIABILITY OF THE INSTRUMENT
3.8 METHOD OF DATA COLLECTION
3.9 METHOD OF DATA ANALYSIS
REFERENCES
CHAPTER FOUR
PRESENTATION AND ANALYSIS OF DATA
4.1 DATA PRESENTATION AND ANALYSIS
4.2 TEST OF HYPOTHESIS
4.3 SUMMARY OF RESULTS/FINDINGS
REFERENCES
CHAPTER FIVE
DISCUSSION, RECOMMENDATION, AND CONCLUSION
5.1 DISCUSSION OF RESULT/FINDINGS
5.2 CONCLUSION
5.3 IMPLICATION OF THE RESEARCH FINDINGS
5.4 RECOMMENDATIONS
5.5 SUGGESTIONS FOR FURTHER RESEARCH
REFERENCES
BIBLIOGRAPHY
APPENDIX 11
CHAPTER ONE
INTRODUCTION
1.2
BACKGROUND
OF THE STUDY
This could
be traced back before, the independence of
In order to
consolidate her political positions,
Owing to
the government encouragement on indigenization programmes in 1972 more business
were established (as mentioned above). Also because of the vital roles business
play in the economy, more manufacturing / multinational companies were
established so as to stimulate economic activities and as a means to develop
the economy as a whole. Although, ever before the independence, most
manufacturing sector that were operating in Nigerian economy were largely owned
by foreigners and due to the indigenization programme that encouraged private
owned businesses, Nigeria took interest in the operation and establishment.
Most of the
business owners or manufacturers were profit conscious instead of the consumer
protection.
In fact,
almost everybody wants to make it fast, and become a millionaire overnight.
This ambition is what made most manufacturers to be producing low standard
products which are detrimental to the health of the general public. Most
products are below standard and do not at times achieve the objectives of their
production.
(Nnenna B.
Ani, 1999: 9) Because of the values average Nigerians attached to money (wealth), no matter how
the wealth is a acquired, they don’t care to know.
This is why
people go into swindling (419) where they dupe unsuspected business men or
innocent members of the public.
Instead of
causing more harm to the
(Ojemba G. Agbo. 1999:67)
They are a few things a developing country needs as much as multinational
companies. These are few contributions from which it can benefit so much as
from the multinational corporation can make. In the economy of developing or
less developed countries in which Nigerian is one, the impact of Multinational
Corporation may be described as follows;
Health,
employment, education, creation of industries, skills development, social
responsibility etc. So the companies like UAC foods plc, Gumess, smith Laline Beedan,
M&B etc, have through these provisions really created a great development
to our economy.
On the other
hand, many harm have been done to the development of the Nigerian economy,
there are loops holes on the total development. They have not been performing
as expected.
Because of
the damages caused by most business to the economy as a developing one,
government therefore embark on regulation and control of business to enhance
this level of productivity and also to make positive impact on the economy.
1.2 STATEMENT OF THE
PROBLEM
The
performance of business organization in
Inspite of
government regulation and control aimed at setting these businesses on a sound
footing, the management of these business organizations have proved to be
inefficient, ineffective and non-result oriented. Even the government owned
industry performed woefully.
Looking intently at this statement, we can
deduce that Nigeria is endowed with many natural resources, numerous to
mention, inspite of the level of natural resources that Nigeria has,
mismanagement, lack of direction and misappropriation among others are the
factors that are militating against the development of the Nigeria economy.
The
researcher will however go further to add other factors as government
regulation and control imposed on these business organization which have proved
to be impediment to the profitability of these business. These regulation and
control include appointment to this business of unskilled/or untrained staff.
1.3 PURPOSE OF THE STUDY
The broad
purpose of the research is to study government’s regulation and control of
business in a developing economy. The specific purposes are to find out,
(i) The
reason why government regulates and controls business organization in a developing
economy.
(ii) The
tools used by government for effective and efficient regulation and control.
(iii)
And how government regulates
sunrise mills ltd and UAC foods plc.
1.4 SCOPE OF THE STUDY
The
research topic spans over businesses in
Normally,
the nature of the study requires a random drawn from a large population to
validate the initial postulations that most of these business organizations in
The
research does not ignore this important research requirement, but sees the
concentration in Enugu State as not neglecting the validation of the
generalization because it has become an accepted fact that most business
organization perform badly, for this reasons, the researcher believes that what
obtains in the rats village is also, obtainable in the rabbits village.
Therefore,
our findings in these business organizations would be applicable to other
business organizations in
1.5 RESEARCH QUESTIONS
(1) Does
any factor constitutes the major projective of the business organization?
(2) What
are the factors responsible for the poor performance of the business
organization?
(3) Does
the organization has performance rating?
1.6 RESEACH HYPOTHESIS
Ho: Government regulation
is contrary to the private objective of the business
Hi: Government regulation
is not contrary to the private objective of the business
Ho: Yearly
national budget affects business.
Hi: Yearly
national budget does not affects business.
Ho: Government
law affects the business operations adversely.
Hi: Government law does not affects the business
operations adversely.
1.7 SIGNIFICANCE OF THE
STUDY
It is
worthy to note that today is a review of yesterday and the basis for future
plans of action. That
It is hoped
that this study will benefits top management of these business organizations’
whole operations, and providing a kind
of check-up list for efficient business management for the academic and Nigeria
society. The research study will serve the purpose of arising deeper and
genuine interest on the subject matter for further research aimed at
eliminating these terrible situations from our system. It is by deliberate
action that the intention of this study is to contribute towards improving the
quality of business administration and management in
1.8 LIMITATION OF THE STUDY
The actual
limitation of the study was the differently and unwillingness of both the
government agencies and the business organization being studies to release
needed information records and some documents.
The
documents, they said are not for public consumptions. Original reports and
financial statements were not released,
funding, inferences were based on aggregate (final) figure which are difficult
to dismantle, for the purpose of time analysis and comparison.
Nevertheless,
responses were got through personal interviews and questionnaires.
The
researcher was also constrained by time factor. Though a research of this sort
is combined with classroom work within a short time. However, these limitations
were gotten over and the study conclusively carried out hundred percent error
free. However, I hope the readers of this work would find it interesting and
useful even though it may not meet their expectations.
1.9 DIFFINITION OF TERMS
Government: This refers to the body of persons governing a
state.
Regulation: This refers to the prescribed rules,
authoritative direction correct pattern used to moderate business activities in
order to benefit both the government and the citizen of such nation.
Business: This is an economic activity in production
of goods and services for the satisfaction of mankind.
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