The Impact of Organizational Structure of Commercial Banks on Efficient Customer Service in Nigeria (a Case Study of First Bank Plc)
OBJECTIVE OF THE STUDY
The objectives of this study are stated as follow:
- To find out ways of improving the quality and the efficiency of those financial service products, rendered to the customers of first bank plc.
- To investigate some ways of eliminating or ridiculing delay by first bank (nig) plc. To its customers.
- To examine if the service rendered and produce by first bank (nig) plc will embrace the patronage of the public and enhance the economic growth of the country.
- To examine the impact of organizational structure of first bank plc from 1999 – 2004 on an efficient customer services.
In doing a study of this nature, it is necessary that some critical examination has been made already of existing literature, so as to establish the necessary acquaintance with prevailing views and ideas in the area of study. In the process of this review, it was observed that only a handful of research work has been done on this topic.
Commercial banks, as was defined previously is the fuel tank which supplies oil that lubricates trade and industry in order to get the wheels of economic activities in motion.
Coming to the importance of commercial banks this literature review will focus on the views of various writer on organizational structures of companies banks inclusive.
It must have to be stated here that there is no specific organizational chart that is peculiar or applicable to all banks, rather each bank or company designs its organizational chart in such a way that it will assist it in achieving its corporate goals.
On other words, there is no typical organizations and that a pattern of organization needs to be “tailor made for every bank or company. any research for a typical organizational structure for all banks or companies is in vain, each company or bank are first of all identifies its corporate goals and designs a structure or chart which will go along way in enabling it to accomplish this corporate objective.
DEFINITION AND SCOPE OF ORGANIZATIONAL STRUCTURE
Major commercial banks such as first bank plc, Union Bank Plc, United Bank for African Plc, African continental Bank Plc and so on have their head office located in Lagos.
While discussing the organizational structure of a typical Nigeria commercial bank Adekanye (1986) postulated that one common feature in the organizational structure of all major banks in Nigeria, is that their head office are located in Abuja and Lagos or in state capital with area regional offices in major cities up country.
The area office have a number of brand under their control.
As in other country, the shareholders are the owner, of the bank, the chairman and the other directors of banks are appointed by the federal and state governments which own majority of the shareholdings in nearly all the directors usually meet periodically to formulate the policies of the bank.
The managing director and the executive director are usually the top management of the bank.
There is normally are managing director assisted by 2 to 4 executive directors depending on the size of the bank. They are appointed by the federal or state government, the appointments are made by the federal ministry of finance.
RESEARCH DESIGN AND METHODOLOGY INTRODUCTION
The researcher adopted library and survey methods. Since the library is the store house of books for knowledge purpose the researcher made use of those material got there as shown in the previous chapter.
The survey research method was also used.
As to complement the library research work the total number of first bank in Nigeria which is three hindered and fourteen.(314) the research population in this study was restricted to three (3) branch in Enugu, and four (4) branch in Lagos, and three (3) branch in Port-Harcourt.
Questionnaires were administered to the customers the clerical staff and the management staff of these branches.
There set of analysis, presentation and findings including interpretation will be made and this should include the one for management customers and the clerical staff.
SOURCES OF DATA
The study combined the primary source of data with that of the secondary one.
- PRIMARY SOURCES: the primary sources of data include the structured questionnaires of multiple choice type which were administered on, the customers, bank, staff and the management of the three branches visited .
- Secondary Sources: these consist of bank instruction manual operational directives, materials, annual reports news, paper and related literature.
All these were very helpful to the researcher.
PRESENTATION ANALYSIS AND INTERPRETATION OF DATA
As stated in the first chapter this study is concerned with the determination of the principal causes of long waiting time as being experienced in this chapter.
Therefore, the research states the findings from the field work and analysis these findings in the light of the stated objective of the study.
The researcher collected a total of fifty five questionnaires response from the selected branches of first bank plc made up as follows:
Thirty from customers, thirteen from clerical staff and twelve from the management staff.
Data collected analyzed. The data were simple numbers which were expressed analysis from the calculations the research result.
QUESTION 1: what type of account do you operate
FINDINGS CONCLUSIONS AND RECOMMENDATIONS FINDING
The first Observation shows that customers of first bank complailied that the dervices being rendered by first bank appear to be prompt and attributing the prinicipal cause of this promtness to the organiazatonal structure of first bank plc. Both the branch management staff was the derical staff also believed that it bank that countributed to the promoptness in the service to customers in first bank plc.
The scond observation shows that customers of first bank plc does not spend much time in any transaction.
The normal time spent in any transaction should be fifteen (15) minutes.
Another observation shows that customers of first bank plc served.
Finally, the branch management staff believed that the polices of executives help the smooth running of the operations of the bank.
Inferences drawn from the analysis and inertpretations shows that to a great extent the orgnisational structure of first bank plc has an impact on efficient customer services.
Base on the inferences drawa here under recommendation was to the authority concerned for due consideration.
It is the researcher belivever that if these recommendations are implemented the services of first bank will improve more.
This study is highly limited as far as it is based on a case study in which few branches in (3) three states out of 314 branches spread throughout the federation were studies. Due to constraints of time and resources, the study has been limied to (4) four branches in Lagos out of 55 branches out of 8 branches in Enugu state. All these were selected branchesof first bank within Nigeria.
- Adekanye, (1986), The Element Of Banking In Nigeria: Questions And Answers.
- A Jaji, S. I & Ojo, O.O, (1981), Mnoey And Banking Analysis And Policy In Nig Contex London, Georage Allenand Uniun Ltd. P. 35
- Breach, E.F.L. & Or S (1968), Thepriniciple And Practice Of Management: Great Britain: Longman PP.43 -47
- Brown, A. (1945), Organization A Formation Of Principle , New York: Hibbert Printing Company P:1
- Business Times, (1992) Nig, April 20, Pp 1 And 22
- DALE, E.(1965) Management Therory And Practice International Student Edition: New York: P.1
- First Bank Of Nig .Plc, Annual Report & Journals. Herbert, G.H.& Ors (1981), Management, New York: Mccraw Hill Book Company, PP.321 -339.
- Henry, H.A. (1974) Priniciples Of Management : A Mordern Appreachi: New York: PP201 – 203.