Full Project – IMPACT OF BUSINESS VALUE ON ORGANIZATIONAL PRODUCTIVITY
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CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
Porter (1985) performed one of the early studies on the effect of corporate value on productivity in organizations. According to Porter, businesses that prioritize pleasing their consumers will do better over time. He singled out cost leadership, distinctiveness, and focus as three of the most effective methods for businesses to generate profit. Successful implementation of one of these techniques, as proposed by Porter, increases the likelihood that a company will reach high levels of productivity.
Barney (1991) did a similarly significant research. Barney stated that a company’s potential to produce value is heavily dependent on its resources and talents. It’s important to have financial, physical, human, and organizational resources, all of which he listed as necessary for value creation. Barney claims that organizations with strong capabilities in this area are more likely to attain high levels of productivity.
In recent years, researchers have examined innovation’s impact on businesses’ ability to grow and thrive. According to Chesbrough (2003), for instance, businesses that are good at managing their innovation processes are more likely to benefit their clients and employees. He singled out open innovation, user innovation, and collaborative innovation as three critical approaches that businesses may utilize to manage their innovation processes.
There is also a growing amount of study on how the creation of business value affects the efficiency of organizations in specialized fields. Scholars have looked at how customer value affects efficiency in a variety of industries, including real estate (Liu et al., 2017). They discovered that high productivity is most common in businesses that excel at creating value for their clients.
The research as a whole argues that understanding the effect of company value on organizational productivity is difficult due to the many variables at play. More research into this area will help us learn which methods best contribute to value creation and productivity gains in a variety of business settings.
Over the years, the term values in organizational Productivity has long been associated with management scholars and business leaders around the world. There is a broad agreement around the world that as a matter of corporate policy, every organization strives to be committed in a manner that is ethically transparent. Boatright (2008). argued that values in the world of organization’s business involve “ordinary decency” which encompasses such areas as integrity, honesty and fairness. Behaving in an ethical manner is seen as part of the social responsibility of organization, which itself depends on the philosophy that organizations ought to impact the society in ways that goes beyond the usual profit maximization objective (Akinbayo and Adenubi, 2000).
It is often argued in many instances that, it is in the interest of an organization to behave in a way that recognizes the need for moral and ethical content in managerial decision as this will benefit the organization especially in the long run (Deshpande, 1996).
Ethical behaviour is characterized by honesty, fairness and equity in interpersonal, professional and academic relationship and it respects the dignity, diversity and the right of individual and groups of people (Deshpande, George & Joseph, 2000). Therefore for an organization to move forward in the aspect of Productivity, it is however important for such an organization to have a good understanding of values and also take it seriously as this can undermine the competitive strength of the organization and the society at large.
Morals spring virtually from every decision, thus organization stability and survival depends on the consistency of quality of ethical decision made by managers. Managers are challenged and encouraged to have obligation on organization Productivity and society at large, to support and the assist the society to imbibe the ethical culture in which there was the interest of is everyone [Oladunni, 2000].
1.2 Statement of Problem
Business value’s effect on productivity is a knotty one that has sparked a lot of study and discussion. Researchers have found that evaluating the effect of company value on productivity is challenging. There is widespread agreement that a company’s bottom line depends on its ability to generate business value, but questions remain regarding how to quantify this value and establish a connection to productivity gains.
Many modern organizations are faced with numerous challenges such as illegal and unethical behaviour in a number of business transactions. Managers are also faced with the challenge of evaluating the effect of this critical behaviour on the Productivity of such organizations. Again, many business managers operate their activities today, without keen interest of bothering whether their actions are right or wrong and the extent of employees understanding of the term values while the level of compliance is highly infinitesimal, (Oladunni 2002).The way Nigerian society cares little about the source of wealth tend to make some of these business operators to begin to wonder about the necessity of values in an organization.
Furthermore, several factors, such as organizational culture, leadership style, and employee motivation, might impact the connection between company value and productivity. Improving organizational Productivity requires a thorough understanding of these aspects and how they influence the value-productivity connection in businesses.
Also, Oladunni [2002] once observed that it is believed in Nigeria that people have poor attitude to work or do not like to work, which result in the low productivity in some organizations. This is rooted in the McGregor theory X approach. When people are forced to do things like Nigerians experience during military era, people tend to put in their best and thus behave well.
1.3 Purpose of the Study
The purpose of the study is to examine the impact of business values on organizational Productivity. The specific objectives of the study are to:
- To examine the awareness of business value approach on the organization Productivity.
- To examine if business adherence towards business value approach will enhance organization growth.
iii. To examine the impact of unethical conduct on organizational Productivity.
1.3 Research Questions
The following research questions were buttressed for the study:
- To what extent will the awareness of business value approach affect organization Productivity?
- How will business adherence towards business value approach enhance organizational growth?
iii. What are the impacts of unethical conduct on organizational Productivity?
1.4 Research Hypothesis
HO: Business values does not have significant effect on organizational Productivity.
H1: Business values have significant effect on organizational Productivity.
1.5 Significance of the Study
The significance of the study can be viewed from two perspectives.
The study of business values on organizational Productivity is indispensable for good corporate entity. And the knowledge of values informs accountability. This knowledge will help to proffer veritable course of action that can deter the problems of business values on organizational Productivity in various firms within and across the country such like corruption, impartiality, absenteeism and other forms of unethical behavior.
The greater the quality of business values the greater the quality of good governance and vice versa. The sound knowledge of this study will help law makers in making an outstanding and achievable law for the nation accountability in the state civil service. It will expose different cases of ethical and accountability problems in organization. It will also unveil the factors that caused these problems.
The research will serve as reference material for future researchers in the field of business ethic on organization Productivity.
Academically, it contributes to the existing knowledge by explaining why workers exhibit unethical and lack of accountability behaviors in the discharge of their functions and their remedial measures.
1.6 The Scope and Limitation of Study
This study examines Impact of Business Values on Organizational Productivity. The study used Dangote Flour Mill as a case study. Therefore the study will be limited within the selected organization. These factors include:
- Inadequate Literature:The inadequate materials on the subject matter really threatened the success of this research.
- Attitude of the Respondents:Attitudes of the respondents in the various departments chosen for this study were discouraging. They were in many occasions very reluctant in supplying relevant information for security reasons as expression of being afraid to expose their vital official secretes.
- Financial Cost:The researcher cannot overemphasized how problematic the cost implication of this research was. It was really a big task sourcing for funds as money was limited in supply, bearing also in mind that the researcher is a student.
- Time:The fact that effective researcher needs ample time dedication is undoubtful. But to the researcher, dedicating such time must be at the expense of other numerous issues competing attention such as her course work, consequently, minute time was hared between the research and other contending issues. The researcher therefore, did not have the whole supposed time for this work as required. Despite all odds, the researcher made frantic efforts to collect sufficient data for the analyses upon which reliable inference was made.
1.7 Definition of Terms
Values: Moral principles that govern a person’s behaviour or the conducting of an activity.
Business: Business is the activity of making one’s living or making money by producing or buying and selling products (such as goods and services). Simply put, it is “any activity or enterprise entered into for profit.
Organization: Organization is a consciously co-ordinate social unit composed of two or more people, that functions on a relatively continuous basis to achieve a common goal or set of goals. It other words of McShane (2000), an organization is a group of people who work interdependently towards some people.
Productivity: Productivity is an action or achievement considered in relation to how successful it is.
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