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TITLE PAGE
MANAGEMENT CONTROL AND THEIR EFFECTS ON ORGANIZATION PERFORMANCE ( A CASE STUDY OF BROADCASTING CORPORATION OF AKWA IBOM STATE ABAK)
BY
---
---/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---
DECEMBER,2018
APPROVAL PAGE
This is to certify that the research work, "management control and their effects on organization performance" by ---, Reg. No. --/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.
By
--- . ---
Supervisor Head of Department.
Signature………………. Signature……………….
……………………………….
---
External Invigilator
DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.
ACKNOWLEDGEMENT
The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.
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This study addressed the perceived relationships among management control systems, business strategy, and organizational performance in broadcasting corporation of akwa ibom state abak. Hofer’s contingency theory provided a framework for the study, which included a quantitative, survey-based correlational design. Research questions focused on the relationship between financial - and nonfinancial-based management control systems as well as low-cost leadership and differentiation strategies, and how these practices impacted organizational performance. Results of the principal component analysis, Pearson’s zero order correlation coefficient, and multiple regression analysis indicated that financial- and nonfinancial-based management control systems and differentiation strategies were significantly positively related to organizational performance. Low-cost leadership strategy was positively related to organizational performance but was not statistically significant. This study could promote positive social change by providing organizational finance managers with information regarding the appropriate mix of financial and nonfinancial management control system strategies necessary to achieve desired organizational performance.
TABLE OF CONTENTS
COVER PAGE
TITLE PAGE
APPROVAL PAGE
DEDICATION
ACKNOWELDGEMENT
ABSTRACT
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE PROJECT
- PROBLEM STATEMENT
- OBJECTIVE OF THE PROJECT
- RESEARCH QUESTION
- HYPOTHESIS
- SIGNIFICANCE OF THE STUDY
- SCOPE OF THE STUDY
- LIMITATIONS OF THE STUDY
- DEFINITION OF TERMS
CHAPTER TWO
LITERATURE REVIEW
- REVIEW OF THE STUDY
- REVIEW OF MANAGEMENT CONTROL SYSTEMS (MCS)
- THEORETICAL AND CONCEPTUAL FRAMEWORK
- THEORETICAL FOUNDATION
- THE CONCEPT OF MANAGEMENT CONTROL SYSTEMS
- ROOT CAUSES OF THE NEED FOR MANAGEMENT CONTROL SYSTEMS
- QUANTITATIVE RESEARCH ON MANAGEMENT CONTROL SYSTEMS
- QUANTITATIVE RESEARCH ON MANAGEMENT CONTROL SYSTEMS UNDERPINNED ON CONTINGENCY THEORY
- PERFORMANCE MANAGEMENT SYSTEMS AS MANAGEMENT CONTROL SYSTEMS
- FORMAL CONTROL SYSTEMS AND INFORMAL CONTROL SYSTEMS
- MCS AND PERFORMANCE
- THE RELATIONSHIP BETWEEN EXTERNAL CONTROL AND PERFORMANCE
THE RELATIONSHIP BETWEEN EXTERNAL CONTROL AND INTERNAL FORMAL CONTROLS
- THE RELATIONSHIP BETWEEN INTERNAL CONTROL AND PERFORMANCE
- INTERNAL CONTROL SYSTEM AS A MEDIATOR
SUMMARY AND CONCLUSION
CHAPTER THREE
METHODOLOGY
- INTRODUCTION
- RESEARCH DESIGN AND RATIONALE
- SOURCE OF DATA
- POPULATION OF THE STUDY
- SAMPLING AND SAMPLING PROCEDURE
CHAPTER FOUR
4.0 RESULT ANALYSIS
- RESULTS AND DISCUSSIONS
CHAPTER FIVE
- CONCLUSION
- RECOMMENDATION
- FUTURE RESEARCH
- REFERENCES
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Management control system is currently being given serious consideration in both private and public organizations. The commitment of enterprise in achieving Excellence is largely determined by the level of control system in place. From recent research, it is obvious that evaluation performance level of an employee in an organization cannot be achieved without effective control system to avoid waste, fraud and mismanagement (Meig’s et al 1982).
All over the world there is awareness that greatest attention should be paid to the improvement of organization management. The reason is obvious, Government constitutes the largest single business entity and her pattern of expenditure through its various parastatals, agency and commissions stimulates a lot of economic activities, (Biodun 1975). Such ever increasing establishment should not be left aloof without a standard control mechanism in place to have an improved organization with sense of direction towards accomplishing the enterprise objectives. If positive results are to be achieved in the organization there must be adherence to stipulated work procedure irrespective of the type of performance in place (Umegbu and Obi, 2007). This work centered on the impact of management control system on the organizational performance, using broadcasting corporation of akwa ibom state abak, as a reference study. From personal experience and observation of organization in the state is void of effective management control system which results to low productivity and inefficiency.
Although the fact remains that the impact of management control system has not been felt so much in organization because a lot of organization has been operating without Management Control System (Tracey 1994) and the control system operational is not adequate enough to effect changes that can produce expected results in the public enterprise. Management control is a major part of managing organization. It comprises plan, methods and procedures used to meet mission goals and objectives and in doing so supports performance based management (Government Performance Acts 1993). Management control also serves as the first line of defense in safeguarding assets, preventing and detecting errors and frauds. In short, management control which is synonymous with management control, help government programme managers achieve desired result through effective stewardship of public resources.
Under normal circumstances, good management control system supposed to help government achieve the following. (Umegbu and Obi 2007)
– Ensure smooth administration
– Control cost minimization
– Ensure capacity and effectiveness utilization of resources
– Compliance with applicable laws and regulations
– Maximum benefits derivation and achieve desired result in the system
As the researcher mentioned earlier on, reversal is the case looking closely in the organization and seen what is obtainable. Effective and efficiency of operation in the system is not maintaining a reasonable percentage; this is because there is no total control mechanism/system, where people are guided according to the laws and regulations of the organization.
The relevance of the impact of management control system on the organizational performance cannot be overemphasized since it is the essential information on which action for continued service in the same job, training, promotion, transfer or redeployment should be based.
Since management control system forms the basis for many personnel policies and practices, it is essential that it be effectively administered.
1.2 STATEMENT OF THE PROBLEM
In any research work there is always a problem that the study is set to understand, examine and solve. This study is not exception to this rule.
It is true some incidences that take place in organization make one to wonder if we are progressing or retrogressing. The fact is that many of our organizations (private and public) are simply not performing, inefficiency is thriving and surviving rather than dying.
Therefore, the problem sought to be addressed in this study is the evaluation of the usefulness of management control system on the performance of organizations and their reactions to it. Specifically, in order to make this paper more meaningful, the impact of management control system on organizational performance of Broadcasting Corporation of Akwa ibom state abak, will be examined and evaluation of its effectiveness will be made based on organization opinion and reaction.
The impact of management control system that is of prime value now have little or no place in the public organization, thereby making performance of many organizations to deteriorate as there is decline in the practice of effective management control system which is total adherence to stipulated work procedure to enable management evaluate the effectiveness and efficiency of the organization.
1. What is the kind of relationship that exist between management control system and performance in organizations.
2. What kind of relationship exist between the performance of organizations with effective management control system and performance of those that is not under any check or control.
1.3 THE OBJECTIVE OF THIS STUDY
The broad objective of the study is to investigate the impact of management control system on the organizational performance of Broadcasting Corporation of Akwa Ibom State Abak
The specific objectives are to:
1. Determine if there is correlation between management Control System and performance of organizations?
2. Ascertain the relationship between effective management control system and inefficiency in organization.
3. Determine the relationship between effective management Control and productivity.
4. Investigate the differences in the performance of organization with effective management control system and the performance of organizations with ineffective management control system.
1.4 RESEARCH QUESTIONS
1. Does the performance of organization depend on effective management control system?
2. What kind of relationship exists between effective management control system and inefficiency?
3. What kind of relationship exists between effective management control system and productivity?
4. Is there any significant difference between the performance of organization with effective management control and those without?
1.5 SIGNIFICANCE OF THE STUDY
The impact of effective management control system in the performance of organization of the state cannot be overemphasized. The researcher is of the view that the research work will be of immense value to the following:
(a) Organization workers/employees: The research work will go a long way to help the employee to understand more of the meaning and the importance of management control system as well as its practices. The worth of management control system will also be appreciated in the system.
(b) Another area of consideration is the area of policy making. This research work will also enable policy makers in the country to make workable policies and to know the necessary polices that will suit the organization of the state.
(c) Academically, the thesis will widen the knowledge of students of tertiary institutions and researchers in both graduate and undergraduate levels.
1.6 SCOPE OF THE STUDY
Various research works has been done on various management field of which impact of management control system is one of the paramount area. Most of these works has not been directed toward organizational performance except in private organization.
With this in mind, it had been my uppermost desire and interest to go into the area of management control system to cover facts about its impact on the performance of organization using Broadcasting Corporation of Akwa Ibom State Abak, as a reference study.
Therefore, I had taken pain to employ all avenue available to collect adequate and up-to date information about the subject matter.
1.7 LIMITATIONS OF THE STUDY
During the research work, the researcher faced a lot of challenges. Prominent among these problems is that there was not enough time because the researcher was constrained by time pressure since he had to combine both academic work with official engagement.
Secondly, is the problem of suspicion by some Government officials so many of them may not be willing to disclose certain information’s to the researcher simply because the researcher might be a government agent that could implicate them with the information disclosed. As a result, the researcher travelled far and near for related text books, going through ranks and file of many management related write up and books in order to get enough information both for primarily and secondary data. This processes involves photocopy, sorting, traveling etc. which entails a lot of financial commitment. A lot of calls was be made, send text messages without getting feed-back from the receiver.
The researcher must not fail to say that there was a very big constrain in getting access to internet. The internet operators will tell you that the system is down or that the signal is poor. Besides, because some of the staff may not be able to read and write very well to get the questionnaire at the time appointed was a serious issue during this research work.
Upon all, these predicaments, the researcher try to submit a comprehensive and accurate report to the best of my knowledge.
1.8 DEFINITION OF TERMS
System: Is a group of inter related components that seek the attainment of a common goal by accepting input and producing outputs.
Management Control: This is the whole system of control, financial and otherwise established by a management in order to carry on the business of the enterprise in an order to carry on the business of the organization in an orderly and efficient manner.
Organization: This is government Agency backed by State Laws and charged with the responsibility of tapping available human and material resources for economic development and general welfare of the people.
Control: A control system is a system built to maintain a desired state.
Enterprise: A company, organization of business
Productivity: The rate at which goods are produced and the amount produced.
Inefficiency: Not using time, money, energy etc in the best way
Public: A group of people who have a particular or who have something in common e.g tribe, group, clan, region, state, local government etc.
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