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BUDGETARY CONTROL AS A TOOL FOR DECISION MAKING IN AN ORGANIZATION

ABSTRACT

This research is an investigation on the budgetary control as a tools for decision making in organization especially the corporate ones that are most profit oriented. Management in these organizations are confronted with decision such as financial decision, investment decision and see to it that the company’s operate and perform accordingly to the budget in order to achieve the desired objectives. So the research work budgetary control as a tool for decision making will investigate how management can make right decision when budgetary control is properly implemented. There is need also to examine what might resulted , if budget is not properly implemented and control to take corrective measure should be taken to provides solutions. The study will further examine how effective these budgets and budgetary control measure in performances. More so, in an attempt to achieve the objective of the proposed research, Beta Glass Plc, Delta plant shall be use to examine the extent which the company’s management employ budgetary control in management decisions. However, from the chi-square statistical analysis method and survey methods of study of primary and secondary sources of data were adopted to test two hypothesis and to analyze data obtained from the research instruments, the research come to see that it is necessary in every corporate organization to prepare budgets and institute budgetary policies, coordinating activities as well as financial control as it enhance the company’s resources management, enhance organization operations coordination, increase the organization productivity and performance, and also encourage effective utilization of the company resources and operational managers accountability. Budgetary control is the establishment of budget relating the responsibilities of executives to the requirements of a policy and the continuous comparison actual with budgeted results either to secure by individual action, the objective of that policy or to provide a basis for its revision. The objective of budgetary control is to control performance and cost in such a manner that any deviation from planned, corrective action may be taken without delay. Finally, the researcher budgetary control; there is need for supervisory functions by highly qualified personnel in order to achieve a better implementation of recommendation measures that would yield performances and the company objectives.

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Entrepreneurship stated when people began to produce more products that they required. As such they had to exchange those surpluses with others, who also expected to dispose off their surplus.

According top Schumpeter (2004) entrepreneurship means doing the next things that are already being doing in a new way.

Nnenna (2006) describe entrepreneurship as a creative and innovation response to the environment such response can take place in any field of human endeavor, for instance4 in commercial industry, agriculture, education, social work and the likes and entrepreneurship is different from manager who only plans, organize and controls a business idea after it as been successfully initiated by the entrepreneurship. Lawal (1999),

According to Ani (2001) a typically Nigeria entrepreneurship is self mode mon to succeed, he might engage the services of others like friends, mates, in-law etc to help him in his work for production through this way Nigerians in older days where engaged in entrepreneurship characterized with production or manufacturing in which case the producer most often started with IT trade by barter even before the advert of any money.

In Nigeria, modern entrepreneurship started with the coming of the colonial masters, who brought in their wears and made Nigerians their middlemen. Most of the modern entrepreneurship was engaged in retail trade or sole proprietorship. One of the major factors that has in many ways discourage the flow of entrepreneurship development in this Country is the value system brought about by formal education has been the preserve of the privilege. With formal education people have the opportunity of bringing in employed in civil service because in these days the economy was large enough to absorb into the prestigious occur pation all Nigeria with some from a formal education. The value system discouraged entrepreneurship in Nigeria for the colonial masters to solve their goods because if Nigerians continue to be enterprising, they would not have had market for their goods. As such, the system made Nigerians to depend on the colonial material to supply them with the needed products.

Again the contracts between the Nigerian enterpreneuar and the foreign enterpreneuar during the colonial era were very detrimental and the competitive business strategy of the foreign, entrepreneurs was heinous and against moral standards establish by the society. For example the United African Company (U.A.C) that was responsible for a sustain percentage of the import and export trade of Nigeria has the policy of dealing directly with product and refused to use the Nigeria entrepreneurs. The refusal of the expatriate to utilize the service of Local business man initiated the expansion and acquisition necessary skill and attitude, for this reason, many eventually folded up. These folded built-up, resentment against business which becomes very demoralizing to other perspective entrepreneurship in the country was slowed down, but with more people being educated and the fact that government could no longer employ most school leavers, economy programs to encourage individuals into private business and self reliant were initiated (Nwachukwu) in view of the impact of entrepreneurship I improving the social economic conditions of the state, the government has made initiation to promote in digramous entrepreneurship in small scale business.

According to Lawal typically action of the government takes the form of policy initiatives and directives to organization such as ministry of commerce and industry. National directorate of employment, ministry of labour productivity, center for management development research institute to act as executing agencies with responsibility for stimulating, supporting and sustaining entrepreneurship development. The research believes that a study of the functions as well as then achievement of the National Directorate of employment (N.D.E) in Delta State will help to evaluate the role of government support agencies in entrepreneurship development within the state.

1.2 STATEMENT OF THE PROBLEM

In Delta State, various government support agencies haver been set up by the government to assist entrepreneurship development and encourage rapid development in small and medium scale industries. These agencies were established because government owned organizations can no longer cope with employment of graduates and schools leavers. Furthermore, the graduates and school leavers have to establish their own small businesses which will help in solving the problem of unemployment and economic development.

1.3 PURPOSE OF THE STUDY

The purpose of this study is to take a segment of the governments support agencies (N.D.E) and study his functions and achievement in the development of the entrepreneurship in Delta State. Specially, the research wants to find out.

Whether the establishment of National Directorate of employment (NDE) has a positive impact on entrepreneurship development in Delta State.

Comes out with findings and subsequent suggestion that would be of great benefit to other government agencies might be experiencing similar problem diagnosed in this research.

The programmes of the NDE have help to achieve his mandate not.

Whether the development of entrepreneurship in Delta State can be attributed to the establishment of NDE or not.

1.4 SIGNIFICANCE OF THE STUDY

This research will be of immense benefit to the society, but there are group of people or organizations who will benefit more from this work which include student who will use this work for research purpose.

The research is equally very significant because it will enrich the knowledge of the work. A study on functions and achievement of government support in the development of entrepreneurship in Delta State.

1.5 RESEARCH QUESTION

For the purpose of this research, the following research questions are adopted.

Does the establishment of National Directorate of employment NDE have positive impact on entrepreneurship in Delta State?

The growth in the number of small scale or entrepreneurship organization in Delta State be attributed to the establishment of the NDE.

Does the government allocate enough funds to fund the NDE programme.

1.6 RESEARCH HYPOTHESIS

In order to find out solution to the lingering problems of this study, the following hypothesis was formulated;

HYPOTHESIS ONE

Ho: the establishment of the national directorate of employment has no positive impact on entrepreneurship development t in Delta State.

H1: the establishment of National Directorate of employment has a positive impact on entrepreneurship in Delta State.

HYPOTHESIS TWO

Ho: the growth in number of small business in Delta State cannot be attributed to the establishment of NDE

H1: the grow thin number of small business in the Delta State can be attributed the establishment of the NDE.

HYPOTHESIS THREE

Ho: NDE have not helped to introduce new ideas and method of production Delta State.

H1: NDE has help to introduce new ideas and method of production in Delta State.

1.7 SCOPE OF THE STUDY

The scope of this study is very wide if it has been carried out in all government agencies in Delta State. However, due to certain constraints which will be state later in the limitation of study. The researchers decided, that this study concentrate on the achievement of the National Directorate of employment (NDE) is the development of entrepreneurship in Delta State.

1.8 LIMITATION OF THE STUDY

The scope of this study is very wide if it haws to be carried out on all government agencies in Nigeria. The study is limited and material resource to see the whole nations. So it limited to Delta State due to those constraints which are:

The huge amount of the money involved in carrying the research of this nature is the most notable constant. Since the research has to be set most of the NDE training centers scattered are in Delta State.

Financial constraint and transportation because of bad terrain.

The consent and geographical coverage of this study was large when compared with the time needed to complete the study.

Transportation can be a problem to the researcher to reach different areas where NDE centre are located in the State.

1.9 DEFINITION OF TERMS

The research it necessary to define the following terms used among others, in this study.

Government Support Agencies: These are government department that are specifically charged with providing funds and other service for the promotion and development of the entrepreneurship.

Development: This is a systematic use of scientific and technical knowledge to meet the specific objective.

Industrial Development Centers (IDC): This is a section of the small scale industries division of the federal ministry of industry which was introduced in Nigeria before the level man.

Agencies Government: These are government that is specifically charge with the responsibility of providing and others, services for the promotion and development of entrepreneurship.

National Directorate of Employment (NDE): These were set up by the federal government to November 1980 to work out strategies own business “Asaba Jons & Hons Publication”.

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.0 INTRODUCTION

The essence of this chapter is to critically look at some important literatures that appear to have theoretical relevance to the research work, and it has been structured into three sections.

Entrepreneurship Development

Need, scope and characteristics of entrepreneurship

Various government support agencies and their function.

This will enable us to appreciate the problem as they relate to the reference need organization of this work. National Directorate of Employment (NDE) which is one of the government support agencies.

ENTREPRENEURSHIP DEVELOPMENT

Entrepreneurship is a catalyst for economic growth, Drunker (2002) suggest that the work of entrepreneurs drive free market economy, yet economic have been shown to recognize the centre role played by entrepreneur is driving growth.

As creators of new organization entrepreneur are given other jobs and chance to become part of growing organization. This government of Nigeria was recognized the value of entrepreneurship and has fostered it in part by creating employment zones, a practical that helps to fund entrepreneurial enterprise in certain area needing additional development according to Ani (2002) is anticipated that these new enterprise will grow and produces some of the goods that the country has until now imported this conserving out dividing foreign exchange earnings. It is hoped that these new enterprises will help only to generate employment opportunity for school leave and university / polytechnics graduates and earn some foreign exchange for the country.

Entrepreneurship benefit the economy by facilitating the spread of innovation so that it benefits not only the original entrepreneurship as purposeful activity to initiate oriented business.

The economist regarded land, labour, capital and entrepreneur as the main task of the entrepreneur. According to Lowel (2002) is to organize the production system and assume the risk of production and capital these will they organized an entrepreneur who on his account under take the financial risk and management control. In short an entrepreneur is a person who identifies opportunities and organized the business activities. An entrepreneur is different from a manager who only plans, organizes and controls a business ideas after it been successfully indicated by the entrepreneurs.

Wheelen and Hunger (2001), saw entrepreneurial venture as any business with primary goals of profit ability and growth and can be characterized by innovative strategic practices. Ani (2000), pointed out that an entrepreneur in the content of our society could be assumed. That the man who owns department store, bookshop, bear parlour, press, beauty salon, publisher, manufacturer, wholesaler and retailer is an entrepreneurship does not involves, big organizations like the young motors, IBM, Ifesinachi motors.

They are all business and each of them has contribution to in the development of economy. This big business at a take started from the scratch and owners nursed them into big business through hard – work. Therefore anybody who identified or create, a business establishes it and nurses it to grow and profitable or takes over an existing business because. The founder is dead or has sold it or built and innovate on it qualifies as entrepreneur in our usage.

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