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