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THE IMPACT OF MARKETING INFORMATION SYSTEM ON MANAGEMENT DECISION MAKING
CHAPTER ONE
1.0
Background of the study
Since people first inhabited the earth there has been information system. Talks
and ad vocations for information system today lay more emphasis on computer
based information system that one is almost certain that information system
come with the advent of computers. But this is not true, manual system exists
and in fact early systems existed but were of course, quite rudimentary and
subject to extensive distortions and delays. They were highly informal and
involved the exchange of news stories and anecdote with neighbors.
Quite a number of benefits that can be derived with respect of decision making
by the design installation and operation of computer based information system
will be discussed in this write-up. A number of marketing looks have indicated
the benefits and problems brought about by computer based information system
operation. But in summary it is still argued that coping with or avoiding such
problems and achieving significant benefits is possible from a well-designed
computer-based information system. Yet, if the assumption that a computer based
information system has a lot to offer for effective decisions by managers or
existing organization, such mission can only be linked to business in the
developed world.
Perhaps the
reason for this may be attributed the fact that computer technology emanated
from or belong to a group of scientist in the developed countries or that
application and adoption of a computer based information system to aid in
decision making also started with business in these developed countries. And
the reason possibly could be that, lessons about success and failure,
profitability and losses implementation or marketing information system (MIS)
were either learnt people, or paid for by business in the advanced world. It is
worthy to note however that subsequent development of requisites skill and
guides for the implementation of a successful (MIS) were curved out of the
experience of these businesses.
However, whatever case may be, it is believed by most people that such can be
learnt from the experiences of others, and it is a known fact that the
marketing function is the same all over the world and that managers essentially
make decisions. Hence this is the reason to suggest that Nigerian organizations
or their managers can take part in the learning process or take advantage of
such benefits of decision making, supposedly inherent in a well designed
implemented (MIS).
For example,
it does not really matter how Nigerian organizations learn from the experiences
of other organization either avoid or adopt an information system. Such system
can help in practical terms, to form basis, for possible evolution for adopting
or discussing a computer based information system and perhaps reach a decision.
Such decision could be based on several criteria such as cash-benefits,
capabilities of the organization concerned or suitability for the organization
concerned or suitability for the specific organization of such system and many
other organizations.
For this reason, it is paramount that provided that this knowledge based on the
practical impact of the MIS on decision making of appropriate executives as
this will help organization manager for subsequent evaluation for adoption of
an MIS as a starting point.
1.1 HISTORICAL BACKGROUND
Union Bank of Nigeria Plc was established in 1917 as a Colonial Bank
with its first branch in Lagos. In 1925, Barclays Bank acquired the Colonial
Bank, which resulted in the change of the Bank's name to Barclays Bank
(Dominion, Colonial and Overseas). Following the enactment of the Companies Act
1968 and the legal requirement for all foreign subsidiaries to be incorporated
locally, Barclays Bank (D C O) in 1969 was incorporated as Barclays Bank of
Nigeria Limited. The ownership structure of Barclays Bank remained un-changed
until 1971 when 8.33% of the Bank’s shares were offered to Nigerians. In the
same year, the Bank was listed on the Nigerian Stock Exchange. As a result of
the Nigeria Enterprises Promotion Act of 1972, the Federal Government of
Nigeria acquired 51.67% of the Bank’s shares, which left Barclays Bank Plc,
London with only 40%. By the enactment of the 1972 and 1977 Nigeria Enterprises
Promotion Acts, Barclays Bank International disposed its shareholding to
Nigerians in 1979. To reflect the new ownership structure and in compliance
with the Companies and Allied Matters Act of 1990, it assumed the name Union
Bank of Nigeria Plc.
In consonance with the government's programme of privatization and
commercialization of public enterprises, the Federal Government in 1993 sold
its shares in Union Bank to private individuals. Thus, Union Bank became fully
owned by Nigerian citizens and organizations.
In line with
the Central Bank of Nigeria's banking sector consolidation policy, Union Bank
of Nigeria Plc acquired the former Universal Trust Bank Plc and Broad Bank Ltd
and absorbed its erstwhile subsidiary Union Merchant Bank Ltd. The Bank also
increased its shareholders' funds through a Public Offer/Rights Issue in the
last quarter of 2005. With these developments, Union Bank remains one of the
most capitalized banks in Nigeria. It has shareholders funds of N119.160billion
and operates through 405 networks of branches that are well spread across the
country, all of which are on-line, real time.
Subsidiaries:
(a) Union Homes Savings and Loans Plc
(b) Union Trustees Limited
(c) Union Assurance Company Limited
(d) Union Bank UK Plc.
(e) Banque Internationale du Benin , Cotonou
(f) UTL Communications Services Limited
(g) UBN Property Company Limited
(h) Union Capital Markets Limited
(i) Union Registrars Limited
Associated Companies:
(a) Consolidated Discounts Ltd
(b) HFC Bank Ghana Limited
(c) Unique Venture Capital Management Co. Ltd.
Union Bank Group operates an interlocking organizational structure whereby some
board members of Union Bank of Nigeria Plc act as external directors in the
subsidiaries and associated companies. This arrangement ensures effective
oversight and participation in the decision-making process of these companies,
thereby safeguarding the Bank’s investments.
Today, the Bank is a leading regional bank in sub-Sahara Africa in terms of its
diverse investments across the globe. A glance at the Bank's financial summary
reveals its solidity. As at 31st March, 2008, the Bank's gross earnings was N112.988billion;
profit before tax was N33.012billion; total assets was N 1,128.890billion; and
shareholders' fund was N119.160billion.
1.2
STATEMENT OF THE PROBLEM
Even though the substantial part of manager time is devoted to decision-making,
many managers take decision without reference to information on the particular
area of decision-making. Decision is based on intuition or what the American's
called Hunch, past experience or an absolute data.
Today, economics have progressed and have brought with them pressures of
information exploitation and need to process large amount of data to extract
small amount of information with the high speed processing capabilities of
computers.
The main question to be addressed directly for the purpose of this research includes
the following: -
(a) What information goes into the marketing decision
making system of Union Bank of Nigeria Plc?
(b) What is the source of the information used by the
company?
(c) Why go about scanning and spotting the information?
(d) What are the problems associated with the information
search and how can the company solve the problem?
(e) How can the management use the information in
managing the overall marketing activities of
the company, and to what extent
have Nigerian organization systematized their information need? If
they are computerized, what benefit would this have on their operation?
1.3
OBJECTIVES OF THE STUDY
This study intends to exploit the situation and make available the impact information
system has on decision making of appropriate executives of Nigerian
organizations. However, the main objectives of this research are as follows:-
1. To show the importance of marketing information
system in Union Bank of Nigeria Plc Maiduguri.
2. To trace the historical development of marketing
information system of Union Bank of Nigeria Plc Maiduguri Branch.
3. To find out the problems and prospects of marketing
information system associated with Union Bank of Nigeria Plc.
4. To make recommendation that will help to reduce or
possibly curb the problems encountered as a whole.
1.4 SIGNIFICANCE OF THE STUDY
Any scholastic research work such as this must have some relevance to some
group of individual and organization. A considerable number of people will no
doubt benefit from this study, more especially those in the manufacturing
company concern. They would know much on how to market their products more
effectively and efficiently than their competitors.
In addition to those people, students of business management and marketing will
learn a lot from the study.
Lastly, human nature is another limitation faced in conducting the research;
some respondents were based in answering the questionnaire some believe that
those questions asked were too personal and confidential in the interest of the
company.
1.5
SCOPE AND LIMITATION OF THE STUDY
The study of the impact of marketing information system is aimed at studying
the impact marketing information of Union Bank of Nigeria Plc Maiduguri Branch.
The research is based on a kind of service line corporate banking as well as
E-Banking. As limitations some respondents did not provide adequate information
to the questionnaire.
The research was inadequately financed so much that it did not provide adequate
information to the questionnaire. Another limitation in conducting the research
activities is the time limit foe conducting the interview was too short.
Lastly, human nature is another limitation faced in conducting the research,
some respondents were based in answering the questionnaire, some believe that,
those question asked were too personal and confident in the interest of the
company. For this reason, zoning and stratified sampling were employed in
gathering necessary information.
1.6 METHODOLOGY
OF THE STUDY
In the course of undertaking this research work, the researcher in his method
of data collection used the organizations document, marketing text book and
brochures, if any sourcing for a secondary data.
Personal interviews in the predominant primary data collection method it is
faster than questionnaire methods as both dealers' users to response positively
and quickly to written questionnaire.
The data, which may be analyzing the data, collected, the test statistics,
employed in this analysis in the "chi-square" (X2 test) this is
appropriate as we are testing for the observed differences in proportion of
more than two variables.
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