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PROJECT TOPIC – Motivation as a Management Tool for Improvig Performance in the Nigerian Banking Sector: A Case Study of first Bank PLC and Standard Trust Bank PLC

Motivation as a Management Tool for improvig Performance in the Nigerian Banking Sector: A Case Study of first Bank PLC and Standard Trust Bank PLC

 

ABSTRACT: CONTACT SITE FOR INFO

 

CHAPTER ONE

1.1 BACKGROUND OF STUDY

Motivation has been discussed/described  as the process stimulating employees to work towards the desire goals/objectives of an organization. Researchers have sought t explain how and why people behave the way they do and how they can be made to behave in a manner supportive (
organizational goals. Motivation goes beyond achieving good morale. Employees may be happy but unproductive. Management must therefore tab
positive steps to influence employees to perform at desired level To understand motivation to the brim, we must first understand the nature of human needs. There are /aria& ways of classify? human needs, viz:
Physiological need
Self Actualization
Self Esteem
Safety or protection from harm.
Belonging, Affection, Acceptance, Friendship & Love
By distinguishing between physiological or primary needs are food, water, air, sex and satisfactory temperature. Example of secondary needs include rivalry, giving, begging and receiving affection. Recent management efforts regarding motivation have been strongly influenced by the findings of two writers,  Abraham Maslow and Fedrick Herberg. According to Maslow needs exist in a hierarchy like pyramid where one level of needs must be satisfied before one is able to move to the next level. In order that performance may be improved in any organization including the Nigerian Banking Sector, a critical knowledge of motivation is key and necessary for Manage .s to achieve superior performance vis-a-vis budgets. Motivation is much more than financial reward. It encompasses all the fringe benefits, path-on-the-back, training, promotions that induces job satisfaction in the work place. It is no gainsaying that planning is very critical to any good Manager. It must be spelt out in the company’s policy statement on how motivation will be sustained and enhanced, like the
practice now witnessed in modern new generation banks where employees are given an opportunity to share in the annual profits of the bank in relation to performance. The reward system should be clearly stated and the expectations of each employee stated by way of budget guides. This budget should be reviewed regularly in a bid to establish variances to facilitate timely solutions that will enhance! budget reviews in line with market realities.

 

Motivation as a Management Tool for improvig Performance in the Nigerian Banking Sector: A Case Study of first Bank PLC and Standard Trust Bank PLC

 

1.2 STATEMENT OF THE PROBLEM

 

According to Macgregor popular theory X & Y of management motivation is a key factor in the achievement of results in are organization. The crux of the theory is that theory X states the human being by nature detest/hate work and should encouraged by way of motivation to perform up to optimum level There seems to be general lack of enthusiasm among workers not only in the banking sector but virtually all the sectors of the Nigerian economy and subsequently having 3 negative impact on Gross National Output. When workers are not adequately motivated, performance and consequently productivity suffers. The continued neglect of workers’ welfare ir many establishments including banks, especially the old generation ones results often to  labour management conflict with its attendant consequences on bottom line. The researcher intends to investigate motivational tools applied by different  managements in two organizations within the same industry with a view to bringing out the weaknesses in each toc employed. First bank Plc, one of the oldest new generation banking the country was selected with Standard Trust one of the fastest growing new generation bank in Nigeria.

 

Motivation as a Management Tool for improvig Performance in the Nigerian Banking Sector: A Case Study of first Bank PLC and Standard Trust Bank PLC

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