The Role of Effective Management in Insurance Industry

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University of NigeriaResearch Publications

NZEPUOME, Hyacinth Chijioke

Author

PG/MBA/00/31018

Title

The Role of Effective Management in Insurance

Industry

Faculty

Business Administration

Depar

tment

Management

Date

May, 2003

Signature

Ezema JonasUwakwe

Digitally signed by Ezema Jonas UwakweDN: CN = Ezema Jonas Uwakwe, C = NG, O =University of Nigeria, OU = University LibraryReason: I have reviewed this documentDate: 2008.11.19 22:05:15 -12'00'


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THE ROLE OF EFFECTIVEMANAGEMENT IN INSURANCE INDUSTRY

A STUDY OF NICON IN SU M NC E PLC

NZEPUOME HYACINTH CHIJIOKEPG/MBA/00/31018

DEPARTMENT OF MANAGEMENTFACULTY OF BUSINESS ADMINIST%ATION

UNIVERSITY OF NIGERIAENUGU CAMPUS

MAY, 2003.


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TITLE PAGE

The Role of Effective Management in Insurance Industry.

A study of NICON Insurance Plc.


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CERTIFICATION

This is to certifjr that this research project was undertaken by NZEPUOMEHYACINTH CHIJIOKE with REG. NO. PG/MBA/00/3 10 18 of school ofPost-Graduate Studies, Department of Management, Faculty of BusinessAdministration. University of Nigeria Enugu Campus.

T-. -C.0. CMUKWUHEAD OF DEPARTMENT


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DEDICATION

This Research work is dedicated to my dear parents, Mr & Mrs H. A.Nzepuome for their untiring financial and moral support to me through-out my academic pursuit.


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ACKNOWLEDGMENT

I am sincerely grateful to the numerous persons who have madeinvaluable contributions towards the successfd completion of this re-search work.

I must express my profound gratitude to my project supervisor Prof. E.U. L. IMAGA who inspire of his lousy periods scarified to me to readthrough the work and offered useful advise and corrections.

My gratitude also goes to the management and staff of NICONInsurance PIC for their co-operation in suppling data for the research.

My sincere appreciation also goes to all the Lecturers in the Faculty ofBusiness Administration especially those in management department.

My special thanks goes to my parents Mr. & Mrs. H.A. Nzepuome andmy brothers for their Love, understanding and patience which saw methrough this turtions journey.

Finally my special thanks goes to all my fiiends and colleagues in MBAClass to them I say God's blessing.


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ABSTMCT

This research project theme is on the role of effective Management inInsurance Industry. A Study of NICON Insurance Plc. The managementof the company represents the administrative machinery of the companyin achieving the efficient implementation of company's policies andprogrammes.

Unfortunately, these government companies organizations has over theyears been criticized for being responsible for the inefficient implemen-tation of the company's good intention. The idea thus implies that theadmininstrative organisation responsible for its implementation is ineffi-cient.

This research study in effect takes a critical analysis on militating factorsthat affect the performance level of this company and attempts some fewsuggestions which the researcher belives will improve their productivity.From the definitions of managem ent, it is quite evident that at times theemphasis on management is people, at other times it is the goals to beattained as well as the resources for attaining them. Yet at other times,the h c t i o n s are emphasized in which case ~nanagem entwill essentiallybe concerned .with the use of available resources to attain a predeter-mined goal which therefore necessitates performing certain functions.


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The arbitraries of management and unwitty pianlessness compoundingthe managerial incompetence of government owned enterprises haveconsequently led to the high mortality rate of government ownedcompanies. Here lies the precarious state in which NICON InsurancePlc. has found itself. From the analysis of the data collected, it wasseen that this company is inefficient in its performance and in view ofthis, somc recommendations were made to help alleviate these problems.


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vii.

TABLE OF CONTENTS

1.4 SIGNIFICANCE OF THE STUDY------------------- 5

1.6 SCOPE, LIMITATIONS AND DELIMITATIONS OFTHE STUDY ......................... - ..................... 8


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CHAPTER TWO2.0 REVIEW O F RELATED LITERATURE------------- 14

CJMPTER- THREE3.1 RE-STATEMENT OF TH E PROBLEM--------------- 40

3 .3 RESEAR CH DESIGN AND METI-IODOLOGY----- 4 13.4 SETTING AND SELECTION OF SUBJECTS------ 42

3.7 DATA ANAZYSlS AND PROCEDURE ------------- 52CHAPTER FOUR4.1 PRESENTATION, ANALSIS AND INTERPRETA TION

OF THE FINDINGS -------------- 54


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CHAPTER ONEINTRODUCTIONThe management attitude of managers with public enter-prises have left much to be desired. One at times startsquestioning the rationale behind operating and maintainingthese public enterprises, by both the State and FederalGovernment. Since their poor general performance hascontinued to feature in every day's discussions.

There is now an established saying that 'ALL governmentestablishment are dumping grounds for lazy managerswho do nbt fit into any other moving establishments'.This saying points to the fact that managers with theseestablishments are now generally marked by their atti-tudes to management.

a close look at most of the managers in employment withthe public liability companies reveals that these individu-als either engage in some other part-time jobs or operateone business unit or the other.


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This situztion brings about loyalty whereby the con-cerned public enterprises stands the risk of receivingless than ful! attention of these managers not mindingk l l y employment contract existing with the enterprise.

one is no longer taking about the increasing rate ofabsenteeism and tardiness in those public enterprises.Some of these managers have developed the attitudeof coming late or staying away for some few daysfrom work without cogent reasons.

These managers behaviours were responsible for the pastgeneral poor performance of these public enterprises andmore especially the NICON (National Insurance Corpora-tion of Nigeria) Plc. which has many zonal offices headedby different zonal Managers. Since they militated againstthe company's aspirations to achieve its goals and objec-tives.


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In an attempt to better this class of managers, the Federalgovernment should provide the need for managementprogrammes because the board of management weremainly composed of party loyalists and not chosen onqualification and for effective management, qualifiedmanagers were needed to actively understand the prob-lems of the organisation. This will not only increase theeffectiveness of organisation, but also increase the esteemand morale of the workers.

since NICON Insurance Plc. is insuring people's lives andproperties and is also the insurance company owned bythe federal government, the Nigeria's present watch to-wards efficient and effective operation on this industryshould only become a realizable venture if this publicenterprise is found performing to the required standard.Hence, there is the need to study the role of effectivemanagement in insurance e industry: NICON InsurancePlc. which is one of the known insurance industries.


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1.2 STATEMENT OF THE PROBLEMNational Insurance Corporation of Nigeria (NICON) In-surance Plc. has been experiencing a lot of problems inthe management of the company. Excessive governmentinterference has led to th e company being inefficient.Over the years numerous studies have been conductedwhich have investigated th e condition of the role ofmanagemect in the progress of public enterprises. Thecompany has been experiencing poor implementation ofpolicies.

The company being a venture of the federal governmenthas been experiencing problems in terms of controls andappointments. If you look from this view, you will thinkthat NICON- is owned by Northerners.

Most of the machines in the company, like typewriters,photocopying machines, computer, and so on have beenout of use. Some require spare parts and repairing whileothers needed outright replacement.


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Observations of workers at work showed lack of co-ordination among different departments. Each has its ownpeculiar problem.

Other problems were lack of training programmes, em-ployment of unqualified staff and so on, all these hindersthe management of the company.

According to Shea, "Effective Bargaining is often the keyto a workab!e compromise".

1.3 PURPOSE OF STUDYThe purpose of this study is to investigate the role ofeffective management in the progress of National Ins-urance Corporation of Nigeria (NICON) Insurance Plc.

11.4 SIGNIFICANCE OF THE STUDYThe finding from this study would serve as a guide tocurrent and would - be future practising-managers forregulating the operations of their firms more especially inthe areas of efficient management. Moreso, it would


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enable them to get feed back information regarding theeffectiveness of their regulatory policies and with thatthey would improve on their subsequent policy formula-tion and planning.

This study will also be beneficial to all those controllingpublic enterprises not only managers. Other federal gov-ernment owned companies like (Nigeria Reinsurance, N itel,Nigerian Coal Corporation and so on) would be amongthe beneficiaries.

The stuff of this study should not only be useful at thepractical level, but also in theory where it would assist inpropagating knowledge in the role of effective manage-ment in the progress of an industry. It should constitutea usefbl and . interesting text in the library

The study would also provide a data base for futureresearch work.


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1.5 OnR-=JBEW OF Tm STUDYThis study is designed to investigate the role of effectivemanagement in the progress of an industry. A case studyof National Insurance Corporation of Nigeria (NICON)Plc, comprised five chapters and under this arrangement.

Chapter one comprise Introduction, Statement or Problem,Purpose of study, Significance of the Study, Over-view ofthe study, Limitations and Delimitations of the study andDefinitions of terms.

Chapter Two treated the Review of related literature.

Chapter Three dealt with the Research methodology andthis involved the following:- Research Questions, Re-search Design and Methodology, Setting and Selection ofSubjects, Instrumentation, Collection of Data, Descriptionof data analysis and procedures.

Chapter four was the findings of the study. It started withthe presentation, analysis and interpretation of the findings.


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Chapter five involved Summary, Conclusion and recom-mendations.

1.6 SCOPE, LIMIT- AND DELIMITATIONS OF

SCOPE OF THE STUDYThis research work covers only the role of effectivemanagement in NICON Insurance Plc. IndependenceLayout, Enugu. The research was based on the surveytype of descriptive method of research. Questionnaireswere also printed in order to investigate the role ofeffective Management of the company.

L.MITATIONThe time span for the research was limited as one hadto combine course work and the research at the sametime. Some workers were usually reluctant to give theiropinion about matters in the company for fear of itgetting to the management. This attitude inhibited the


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accura,cy of information gathered, because most of theworkers always wait to say what interests the managementinstead of saying exactly what was happening in NICONPlc. The questionnaire collected was not an excellentpercentage as some of the workers did not see the needfor the research work. They believed that the researchwas not going to be of any help to the organization sinceother ones done have not been able to put in practice,according to them.

Another issue was the distance. The distance betweenUNEC Campus and NICON Zonal Office, IndependenceLayout, Enugu was not much but before getting to thisparticular company, a special car must be used or youtrack all the way because commercial vehicles do notoperate on this road and this deprived the researcher theopportunity to call at the company any time the researcherhad a problem on the activities ~f the organisation. Inother words, visits to the company were numbered unlikewhat would have been the case if the company was easilyaccessible by commercial vehicles.


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The research also encountered financial problems. To printquestionnaire that would be distributed to all the workersin NICON, a huge amount of money was needed, in viewof this, the questionnaires printed did not go to everyworker in the organization.

DELIMI[TATI[ONSThis research work was supposed to based on NationalInsurance Corporation of Nigeria Plc. which has its Head-quarters at Lagos, but the researcher deliberately basedher research work on the zonal office here at indepen-dence ~a~out ' ,nugu in order to make the work easy toco-ordinate. The study was limited to the management ofNICON Insurance Plc, Enugu. The questionnaire itemslimited the study to investigate the role of management inthe company.

DEFINITION OF TERNISStaR Group of assistants working together

under the management.


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Management: Is the rational assessment of a situa-tion and the systematic selection ofgoals and purposes (what to be done),the systematic development to achievethese goals, the marshalling of therequired resources to attain theselected purposes and finally motiva-ting and regarding of people to do thework.

Study Area: The geographical location which thestudy is aimed at covering in this case.

Respondents: All those who responded bv attendingto the questionnaire administered bythe research.

Sample Size: The end towards which activity isaimed - the end point of planning.


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Survey:

Efficiency:

A technique which delineates a situa-tion where a representative sample ofpopulation is studied and resultsgeneralized.

The economic manner in which objec-tive oriented operations are carriedout.

Effectiveness: It is the degree to which pre-deter-mined objectives are achieved. It

i describe the extent to which anorganization is successful and doingwhat is set out to do.

Organization: The relationship between the peopleworking in the enterprise.


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1. Gregory P. Shea, "The Study of bargaining andConflict behaviour: Broading the Conceptual Area".Journal of Conflict Resolution,Vol. 24 no. 4 (December 1980, page 706 - 741).

2. Pita N. Ejiofor, Management in Nigeria,(Onitsha, African Feb. Publishers Limited,2nd Edition, 1987), page 182.

3. Harold Koontz, Management, (Japan, McGraw-HillBook Company, 7th Edition, 1983) page 806 - 808.


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CHAPTER TWO

REVIWED OF THE RELATED LITERATURE

2.1 DEFINITIONS AND MEANING OF MANAGEMENT

Numerous studies have been conducted to investigate therole of management in the progress of an industry.

1LEVIT said "management consists of the rationalassessment of a situation and the systematic selection ofgoals and purposes. {what is to be done}, the systematic

development to achieve these goals, the marshalling of therequired resources to attain the selected purposes andfinally the motivating and rewarding of people to do thework".

2H.D.KOONTZ andC.J.0 DONNEL , "It is the accom-plishment of desire objectives by establishing environment favourable to performance by people operatingin organized' group". Managing is essentially in all


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organised co-operation, as well as at all levels oforganisation in an enterprise. It is the function not onlyof the corporation president and the army general but alsoof the shop supervisor and the company commander.In working with many enterprises and organizations, theauthors have heard it said repeatedly that the "troublewith the enterprise is the management". Meaning personsat a high level in the organization while weaknesses anddifficulties may appear at any level of management,effective and perceptive management demand that allthose responsible for the work of others, at all levels andin any type of enterprise, regard themselves as managers.

BERNARD, C . I? , "It is the function of the arts toaccomplish concrete ends, effect results, produce situa-tions, that8would not come about without the deliberateefforts to secure them. These arts must be mastered andapplied by those who deal in the concrete and for theother hand, is to explain the phenomena of the events, thestructures of the past. Their aim is not to produce specific


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events, effects, or situations but expianations which wecall knowledge. It has not been the aim of toluenes to bea system of technology, and it could not be such a system.There is required in order to mandate the concrete a vastamount of knowledge of a temporary, local specific char-acter, of a General value or interest, that it is not thefimction of a science to have or to present and only toexplain to the extent that is generally significant".

With the possible exception of formulating science itself,art. is the most creative of all human pursuits. When theimportance of effective and efficient group co-operationin any society is appreciated, it is not difficult to arguethat managing is the most important of all arts.

The most productive art is always based on an under-standing of the science underlying it. This science and artare not mutually exclusive, but are complementary. Asscience improves, so should art, as has happened in thephysical aid biological sciences. Physicians without a


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knowledge of science becomes witch doctors, withscience, they may be artful surgeons. Executives whoattempt to manage without theory, and without knowledgestructured by it, must trust to luck, intuition, or what theydid in the past; with organised knowledge, they have a farbetter opportunity to design a workable and sound solu-tion to a managerial problem.

However, mere knowledge of principles or theories willnot assure successful practice, because one must knowhow to use them. Since there is no science in whicheverything' is known and all relationships are proved,science can not be a comprehensive tool of the artist. Thisis t rue whether one is diagnosing bridges or managing acompany.

FARMER AND KICMMA$ believes that "managementpractice and its effectiveness will depend to a majorextent upon internal environment characteristics".


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Assuming the one of the major goals of any society isproductivity (evsn though this apnears somrtirr :s to beunrealistic), managerizl effectiveness is defined as simplehow well and efficiently the manasers of an erlterprise ina given environment accomplish enterprise objectives ifwe can assume that the objective is productively, theefficiency is given by E = 0/1, where E is efficiency, 0 isoutput, and 1 is input. While this efficiency of manage-ment, an analyst will encounter extremely difficult prob-lems in measuring inputs and outpuk These problemsinclude:

1. The problem of uncertainty, since managementdecision and practice always deal with the h ture .

2. The problem of clearly defining goals, since I if notso defined, outputs can not be accurately measured,and a knowledge efficiency becomes impossible.


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3. The problem of subsystem optimization, since theconceptual ability, and measuring technique areseldom available to evaluate adequately theenterprise as a total system over time, and

4. The problem of resources mobility, since imputs,such as labour and capital can not be easily shiftedfrom less profitable opportunities to more profitableones.

Although difficulties of measuring do exist, there are anumber of'means by which the efficiency of a countryor a firm's operation can be assessed. The efficiency ofan individual firm may be ascertained by looking at anumber of factors. One of there is profitability as mea-sured either by the return on net worth or assets em-ployed. Another is how well the firm competes with otherfirms in the industry. A third is the output per employee,such as how dfectively the employee is performing with


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his /her duties. A fourth measure is the extent to whicha firm utilizes its available equipment. A fifth factor,where applicable is the level of costs and process andtheir relationship to those of another firm. A final typeof measurement involvcs the matter of long-run optimiz-ing short-run performance at the expense of long perfor-mance, or vice versa.From all these illustrations, it does seem that thesemeasures or management effectives, both in a nation andwithin a firm, re appropriate.

D R U C K E ~describes rnariagernent as " a multi-purposeorgan that manages a business and manages managers andat the same ' time manages workers and work". Thesethree main jobs of management must all be carried outwithin an additional dimension, that of time, since man-agement n u t think of both the present and the future.From this definition, it could be seen that he is


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concerned with what has to be done rather than with howit has to be done. It is a helpful definition because it isconcrete and pinpoints different aspects of the manager'sjob.

NWACHUKWU~efined management as "getting thingsdone through others". It can be more scientifically definedas the co-ordination of all the resources of an organizationthrough the process of planning, organizing, directing andcontrolling in order to attain an organizational objective.Management is the guidance or direction OF people to-wards orgariizational goals or objectives. It can be seen asthe supervising, controlling and co-ordinating of activity toattain optimum results with organizational resources.

From the above definition, it is quite evident th2t at times,the emphasis on management is people, at other times itis the goals to be attained as well as the resources forattaining them, yet at other times, the function oweemphasis in which case management will essentially be


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concerned with the use of available resources to attaina predetermined goal which therefore necessitates per-forming certain functions.

E J IOPCX ~ described management "as the art ofworking, particularly through people, for the achieve-ment of the broad goals of an organization. In trying toachieve these goals, the manager has to map out hisstrategy, find people and the material to do the job,assign different people to accomplish different jobs,ensure that these jobs are being done as planned, andreport the result of his work to his boss".

In this definition, two tasks are involved. The first taskinvolve settihg objectives, planning including decisionmaking, and .setting up formal organization. The secondconsists of motivation, and communication, control in-cluding measurement, and the development of people.The two tasks are separated for convenient analysis, but


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in practice they may often overlap. For instance, amanager who wishes to reach a decision acceptable to hissubordinates, and therefore more easily implemented, mayinvolve them in the process of decision - making.J t is not necessary to consider here which policy are madeby the Board and which by management. practice variesfrom one company to another.

KANA~NTY~aid that the "manager must be sensitiveto the changing environment, not only able to understand-ing it, but also to predict it. This requires an ability tohandle and analyse information, as well as an adaptabilityand flexibility of style and approach. He must be able tocomprehend the forces that will shape his social policyand balancea t with the economic goals of his enterprise.He must be able to co-ordinate activities in a care flexibleorganisation and to share his views with others seeking awider participation in goal-setting and policy implementa-tion. A manager who thinks of a firm as an integration


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of functional areas working towards a common goal isactually regardingd the firm as a system. The areas areintegrated by flows of resources, sac11 as material andinformation an eac'l area depends on the other forsuwivaZs'.

The firm not only depends on its environment for lifegiving resources but also makes a contribution to thatenvironment.

ROSS and I(AN61 said that "no one would deny theimportance of good management in any kind of enterpriseand every department of it. Without efficient manage-ment, there is no place for the enterprise to go, for thesimple reason that no one knows where it is intended togo. Yet, despite the obvious importance of efficientmanagement, it is believed that lack of efficient manage-ment is the cause of many managerial failures. He gavean example with the great RCA company, long a nationalleader in electronics, stubbed its toe and took a loss of$450 million in 1971 when it decided to get out


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of the computer business. The company found that astrategy to meet IMO head on, to mimic IBM and evenundersell it could not work without RCNs having a strongcommitment to the computer business and plans to buildup a sales and service organization, as well as a full lineof business computers that could meet IBM's exceptionalstrengths in this field. This is because of the inefficiencyof the management in making a good plan.

ARM ST RUNG^ 0 describes management as "gettingeffective results by organizing and directing the co-opera-tive efforts of human beings. With efficient management,there will be an effective effort and co-operation and trustbetween all the people working in it and achieving astipulated goal. The prime resources available to manage-ment is finance and people. Given sufficient finance, thekey resource is people".

URWICK''. has said, "Lack of good management (in anorganization) is illogical, cruel, wasteful, and inefficient".


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It is illogical because good management must come firstwhether one speaks of engineering or social practice. Itis cruel because the main sufferers from lack of inefi-cient management in ar organization are those individualswho work in an undertaking. It is wasteful because unlessjobs are clearly put together along !ines of functionalspecialization it is impossible to train new men to succeedto positions as the incumbents are promoted, resign orretire. And it is inefficient because unless based onprinciples, managing becomes, based on personalities withthe resultant rise of company policies, for a machine willnot :run smoothly when fundamental engineering prin-ciples have been ignored in construction".

BURNSbetweenexternalpersons

and STALKER^^ investigated the relationshipmanagement practices and characteristics of theenvironment. Specifically, they interviewed keyin twenty English and Scottish companies and

developed a conceptual scheme with two different sys-tems of management practices. One system was called"mechanistic" and the other "organic".


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The Mechanistic management system appears to beappropriate for a relatively stable organization environ-ment. This system is characterised by, among other things,specialized differentiation of tasks by individuals viewingtheir tasks as being distinct from the whole, by preciselydefined rights and obligations by a hierarchical structure,by vertical interactions between the superior and thesubordinates, and by having instructions and decisionscome fiom the superior.

The organic management system on the other hand, ischaracterized by individual performance based on knowl-edge of the task of the whole and a great concern,continued redefinition of tasks through interaction withothers, and z great deal of lateral interaction and consul-tation. This system, it is suggested, is more suitable forcopying with unstable and changing condition and unpre-dictable problems.


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WHITEMORE and IBBETSON~~ocuses their atten-tion on the management responsibilities. According tothem, management's main responsibilities in managementmatters is for correct examinatior. and diagnosis of asituation, formation of the right policy and implementa-tion of the most appropriate form of management skill tosuit the given circumstances. This is extremely difficult tocarry out in practice because even if the diagnosis iscorrect and the presc ription right, tradition, custgm andpractice and resistance to change might stimulate a reac-tion against the seemingly 'perfect' plan. Timing itself islikely to be critical. A scheme rejected at one time maybe welcomed, perhaps under slightly differing circum-stances at a later date.

W E B S T E ~ ~ .he gave many definitions on management.He starts by saying that management is the act or art ofmanaging as:'(a) more or less skilled handing of some-thing (as weapon, a tool, a machine). (b) The conduct-ing or supervising of something (as a business)


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It could be buttressed here that management is basedmore on the role of management - the efficiency andeffectiveness of any organization depends solemnly on therole of the management within that organization.

FOX'^ said that "that management in an organizationdeals on all aspects of managerial concern. Constantly,they are paid to keep the organization - th e people,effective and moving. They must manage the organization,they can not delegate this management, they must do it.

He 'went filrther to say that for management to besuccessful, they must be managing people. Many manag-ers must deal with "customers". The "customers" may betruly customers, like the users of the firms product, thepolicy holders as the case would be with insurancecompany, or inside customers.

In view of this, therefore, today's managers must do twojobs. First, they must accomplish their goals within theresources - time, money, and materials, Second, they must


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manage, conserve, and increase the human resourcesunder their control. In other words, any management whodoes one but not both jobs is not doing a good job.

MCGRIEGOR'~ said that "management is not a thingexisting by itself; it is a function of the organization. Asthe organization changes, evolves, shifts its purposes,takes a new personnel, matures, the management functionwill also change. This is why Theory X management mighthave been effective at one time in North Arnercia andmay be effective today in some parts of the globe orunder unusual circumstances. Theory Y management ismore effective today but may not be at some future timeand place because the organization may take on newforms. Theory X management calls for the recognitionthat management style must adjust to the needs of theorganization'at whatever state of evollrtion it has reached".


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MAS LOW^* said that "people within the managementhierarchy must become a diagnostician. Diagnosis inmanagement involves analyzing and identifying events insuch a way that causes can be assigned to them. Often,diagnosis is used in the negative sense of being able torecognize diseases or sickness from their symptoms. Inthe organizational sense, the people involved in manage-ment must do this. It also involves assigning causes topositive events which gives higher morale and moreefficiency, less complaints f b m public who are served bythe organisat ion and so on". The researcher's personal.opinion is that concentrating on finding causes of positiveevents and encouraging and strengthening them will pro-duce more long-run effectiveness than diagnosing nega-tive events and performing emergency surgery.

FROMM~' point out that, "so is the people who makeup the management themselves. This greatly complicatesthe analysis we wait to perform for (management) we aresimultaneoulsy observer and observed: Pointless


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contemplation of our belly bottom should not be ourpurpose, yet we must have some glimmer of what we arereally about before we can be expected to serve our lives'purpose meaningfully by spending the greater part of ourworking day the best years of our lives working asmembers of the organization, no matter how noble itssocial purposes may appear to be".

STONER" states that "management is the process ofplanning, organizing, leading and controlling the effects ofthe organization members and of using all other organiza-tional resources to achieve stated organizational goal".

A process is a systematic way of doing things. Thisdefinition of management is referred as a process becauseall managers regardless of their particular aptitudes orskills engage in certain inter-related activities in order toachieve their desires goals.


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R U F ' ' states that "the role of efficient management ingovernment companies makes them profitable andencourage industrial growth of the economy. He wentfurther to say that situations whereby government com-panies in which it has equity interests were poorlymanaged, which often resulted in less profits, was discon-certing and does not encourage the government to estab-lish more companies".

From the above exposition, it is quite evident that wehave in one wsy or the other contributed to the failure

1of companies set up with out hard-earned money becauseof the inefficient role of the management. It is quite clearnow that no organization can thrive if bedeviled by aninefficient management.

The importance and significance of the role of effectivemanagement can no longer be over-emphasized. First andforemost, when the objective of the organization mighthave' been achieved, an industrialized nation, the dream


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of our government will become true, and to crown to itall, the standard of living of our people would keep alivegovernment owned companies, guaranteeing employmentfor all,


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REFERENCES

Theodora Levit, Management and the Post IndustrialSociety (New York McGraw-Hill Book Company, thePublic Interest Summer, 1976) P. 73

Harold D. Koontz and G'Donnel, C. 0 . Principles ofManagement, (Kogatusha, McGraw-Hill, 1964) P. .

Chester I. Bernard, The Functions of the Executive,(Cambridge, Mass: Harvard University Press, 1938) P.4.

R. N. Farmer and B. M. Richman, Comparative Manage-ment and Economic Progress, (Homewood, 111: RichardD. Irwin Inc., 1965) P. 8.

Peter P. Drucker, The Practice of Management (NewYork, Harper and Brothers, 1954), PP. 194 201.

C . C. Nwachukwu, Management Theory and Practice(Onitsha, African - Feb Publishers, 1988) P.4.


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13. 0 . Whitemore and W. Ibbetson, The Management ofMotivation and Remuneration, (Oxford Alden Press,1977) P.3.

1 4 Webster, Third New International Dictionary, (U.S.A.V01.2. 1966) P. 1372.

15. Richard Hacon, Personal and Organizational Eflec-tiveness, (U.K., McGraw-Hill Book CompanyLimited, 1972) P.29 1.

1

1G. Joseph M. Fox, Executive Questions. (California,Addison Wesley Publishing Company) P. 29 1.

17. Douglas' McGregor, The Human Side of Enterprise,(New York McGraw Hill Book Company 1960) P.

18. A. H. Maslow, Euysychoan Management, (Homewood,111 Richard D. Invni Inc. and the Porsey Press, Inc.1965 P. 8.


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7. Pita N. 0 . Ejiofor, Management in Nigeria. Theories andIssues, (Onitsha, Africana Educational Publishers Nigeria,Limited, 1981) P. 101

8. George Kanawaty, Managers of the 1980's, (New YorkHolt Rineharct and Winaton, 1979) P. 8.

9. J. E. Rose and M. 3 . Kami, Corporate Management inCrisis, why the mighty Fall, (Eyleword Clifts N. Y PrenticeHall, Jnc. 1973) P. 42.

10. Michael Armstong, A Handbook of Personnel Manage-ment Practice. (London, the Auchor Press Ltd, Tiptress,Essex, 1977) P. 13.

11. L. Urdick. The Elements of Administration. (New York:Harper and 'Brothers, 1944) P. 38.

12. T. Burns and G.M. Skalker, The Management of Innova-tion. (London: Tavistock Publications, 1961) P. 32


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19. Erich Fromm, The Same Society, (New York: HoltRine-Chart and Winston, 1955) P. 35

20. James A. F. Stoner, Management, (New York, Libraryof Congress Cataloguing in Publication data, 1935)P. 7.

21. Colonel M. Rufai, Daily Star Newspaper, 1990,1P. I .


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CHAPTER TI-IRIEE

RESEARCH DESIGN AND METHODOLOGY

3 1 RE STATEMENT OF TH E PROBLEMThe objective of this study is to investigate the role ofeffective management in an insurance industry. A casestudy of NICON INSURANCE Plc.

3.2 RESEARCH W ES TIO N SThe following research questions were used to developquestionnaire through which data on the role of effectivemanagement in NICON Insurance Plc. were derived.

How long have you been in the present mangementpositionIs the managcrnent of N E O N efficient?what does management expect from the operations ofyour company?How do you plan for your employees welfare?Does Management adequately meet the expectations oftheir customers?How do you rate the activities of vow comnanv?


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3.3 DESIGN Rt METHODOLOGYThis research is an investigation and exploratory casestudy on the role of effective mangement in an insuranceindustry: A study of NICON Insurance Plc.

The researcher used survey research method. Theresearch method and collection involved the collection ofdata through the use of questionnaire, interview anddirect observation.

The questionnaire was designed by the researcher in sucha manner that the respondents would answer the questionwithout assistance. Care was taken to guard against-possible sources of error.

The questionnaire was backed up with personal inter-views. T he-pu rpo se of this was to minimize the problemof error which might arise due to unreturned question-naire. The interviews were limited to a few selectedworkers since the researcher codd not reach all therespondents.


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Also the heads of sections were interviewed. Tlie inter-view afforded the researcher the opportunity to explainsome difficult questions to the respondsnts. Moreover, thequestionnaire and the interviews were complemented bywhat the researcher was able to observe by herself duringher frequent visits to the organization.

. 4 SETTING AND SELECTION OF SUBJECTSNICON Insurance Plc, Enugu Zonal Office is located atIndependence Layout in Enugu North Local GovernmentArea of E~iagu tate in Nigeria. The organization consistsof many departments. The participants comprise the topmanagement, middle management and junior management.

The target population of this study was 60 workers. Thisconsists of works in the three different categories ofmanagement (1O), Niddle level management (20) andJunior level management (30), Cluster sampling tzchniquewas first used to select the simply population. Accordingto Nwabuoke 1,


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"Cluster sampling is a sample technique whereby thepopulation is divided into zones or clusters of groups, andthen by applying simple random sampling, a sample isgotten from a population of cluster". The existence ofthree different categories of management in the corpora-tion fated the task of dividing the population into three.

Following this, the total number of employees in threedifferent categories of management was used as thepopulation. The top management has 10 workers, themiddle management has 20 workers, while !he juniormanagement has 30 employees. The total population there-fore is 60.

By the process of simple random sampling, samples wereselected from each category of rnangernent. Simple ran-dom sampling according to ~wabuoke2, is a method ofsampling in which every unit of the population has acalculable chance of being selected into a sample".


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In selecting the sample froin the top management, theresearcher numbered the worker on top management level1-10. The reseracher therefore got 10 identical cards andalso assigned the number 1 -10 on them respectively.These cards were put in a sack and reshuffled after eachdraw was made. Cards were then drawn one at a timefrom the sack until 3 cards were picked out of the 10cards numbered. This is in order to give the remainingcards equal chances of being picked after each draw. Thenumbers on the cards picked were noted. The researchertherefore handed over the questionnaire items to theadministrative manager instructing him to distribute the 3questionnaire items to the employees whose numberscorresponded to the numbers on the cards. The employeesfilled he questionnaires.

For the middle management, the same simple randomsampling procedure was followed. Here, there were 20employees, out of which the researcher selected a sampleof 12. Once again, the researcher got 20 identical cardsand numbered them from 1 - 20 accordingly. The cards


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TABLE 3.1Proportion of the employees in eachManagement Category to the populatior. size:

Management Category

Top ManagementMiddle ManagementJunior Management

-No. OfEmployees

Percentage

TABLE-.2Proportion of the number of samples in eachManagement Category to the total sample size:Management Category

Top ManagementMiddle ManagementJunior ManagementTOTAL

No* OfEmployees

Percentage


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were put in a sack and reshuffled thoroughly. Cards weredrawn o m after arother until 12 cards were picked, againreshuffling the cards afier every draw. The numbers on thecards were noted, and the employees bearing on the cardswere noted, and the employees bearing the numbers wereselected and given the questionnaires by the Administra-tive Manager to be completed.

In similar manner, 21 employees were sampled from thejunior management out of a total of 30 employees. Thiswas also done as explained in the two instances above,using the simple random sampling technique.

At the end of this exercise, the samples picked from thethree categories of management totalled 36 representing60% of the entire population. The percentage of thesample size of the population size is shown thus:


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By the use of simple random sampling, all the units of thepopulation had a chance of being selected. This alsoincluded employees from the three categories of manage-ment: Top level management, Middle Level managementand Junior Level management. The practice of reshufflingthe cards inside the sack thoroughly after each draw wasintended the to reduce the probability of some cardshaving greater chances of being selected than the others.

3.5 INSTRrnNTATIONThe major instrument used by the researcher in the courseof this study was the questionnaire. However, interviewsand direct observation were used too. The questionnairewhich was developed and drafted by the researcher tookthe form of close questions, answers provided to each ofthe question. The questionnaire was constructed to, as faras possible, embrace all the possible answer to ezch of thequestions. The interviews conducted were also used toclarify the questionnaire in that it threw more light onmisunderstciod issues and inadequate responses.


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The pilot survey was used to establish the validity of theinstrument. Validity here refers to the process of measur-ing what the researcher purported to measure.

3According to Nwabuoke , the pilot survey is a "minia-ture of the main survey in which all the operationsintended to be used in the main survey are tested, to seehow they work and what modifications are needed tomake them work even better". In other words, the pilotsurvey is a microscom experiment of the main survey, ora test or trial survey carried out in a small scale beforethe main enquiry.

By this technique, 15 employees who did not belong tothe sample were selected and each given a questionnaireitem to fill. 1 4 out of the 15 employees completed thequestionnaire correctly. The research saw this as anindication that the respondents understood what were


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required of hem in the questions. This distribution andcollection of the questionnaire items were effectively doneby the Training Officer. Consequently, the researcherrelied much on his competence. Thus the validity and theeffectiveness of the instrument was established.

The validity of the instrument having been established, itsreliability was determined by whether responses by vari-ous respondents were consistent over a number of items,and with ane another. This was done through the test andretest technique. This is system whereby a given experi-ment is repeated over a number of times, therefore 10questionnaire items were given to 10 respondents who donot belong to the sample to complete. After completion,they were collected back, and anew set distributed. Thiswas repeated until they completed three identical sets ofthe questionnaire. The data contained in the three setswere compared and found to be consistent. Hence, thereliability of the instrument was established.


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3.6 COLLECTION OP DATAThe researcher mat'e her first visit to the study area,

NICON Insurance Plc, Zonal Office, Independence LayoutEnugu, in October, 2002. The aim of this was to get somefacts about the firm. The survey gave the researcherample opportunity to establish friendly relationship withboth the management and security men at the gate.Having created such friendly relatioiiship with the peopleconcerned, she had little difficulty in collecting the dateduring study.

Later, an introduction was made between the res9archerand the Administrative Secretary ; office of the establish-ment (NICON Insurance Plc), this was to get the researcherformally introduced as a research student of University ofNigeria Enugu Campus and his mission to the organization.

The use of questionnaire formed the researcher's majorsource of primary data. Fortunately, almost all the respon-


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dents were literate an could make responses to thequestionnaire. 'The few that are not so literate were ableto respond after some simple explanations. Besides, thequestionnaire being self administered offered the respon-dent the convenience of filling them anywhere.

Out ofthe 36 questionnaires administered to the respon-dents, 34 were returned. Also 4 were rejected because oferrors in some, and others in which some spaces were leftblank. On the whole therefore, 30 questionnaire itemswere correctly completed an returned. Therefore 3 ques-tionnaire items were used for the purpose of analysis.

The collection of the questionnaire was done by theAdministrative Officer. This method though effective, mightnot be entirely foolproof. This is because some respon-dents would see it as beingofflcial matter and thus mightnot give their free and correct answer to the questions.The tendency might be to give answers that would please


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the management. However, the accompanying letter in thequestionnaire reminded the respondefits to be true and fairin their responses which were promised to be treated asstrictly confidential. The researcher was also told by theAdministrative Manager, that he kept a box outside hisoffice where respondents dropped their completed ques-tionnaire items without being seen.

3 7 DATA ANALYSIS AND PROCEDURES.After the collection of data, they were analyzed andclassified. After this, tables were used to present data.Since these were five research questions upon which thatdata were based, the data were accordingly presented infive different tables of analysis.


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53.

REFERENCES

1. Precious Nwabuoke, Fundamentals of Statistics(Enugu, Nigeria, Korona Books, 1989), P. 21.

2. Ibid F. 19.

3. Op. Cit. P. 10.


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PiWSENTATION, ANALYSIS AND INTEWmTATIONOF THE FINDINGS

In the presentation of the data, the researcher employedtabular method of data presentation

The researcher distributed a total of 36 questionnaireitems to the workers in the three levels of management.

Out of the 36 questionnaire item distributed analysis wasbased on 30 questionnaire items which was filledcorrectly and were collected back by the researcher.

Table 1 has to do with the level of the organizationallystructure the respondents belong.


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management. Those at h e upper and middle managementwere found not to be too familiar with the enterprisesbecause of the length of service.

When the respondents were asked what level of educa-tion did you attain before joining tha company, it wasfcund that out of the 30 respondents, there were only 8graduates and that makes it difficult for the company toknow what management is all about because that was on26.7% of the sample size.

The researcher also asked the respondents to mention atwhat age they entered the company. She found out thatthose at the Senior Management are made up of peoplewithout experience. Most of them have not had enoughexperience in the practical management of an organiza-tion. It is worthy of note that lack of experience on thepart of the management will effect the progress of theIndustry. ,


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RESEARCH QUESTION 2

What does management expect from the operations ofNICON Insurance Plc?

This research question was intended to find out whatactually the management of this company expect fiom theoperations of their company.

The responses arc presented in the table below:

TABLE 4.2Does Management expect efficient performance in theoperations of the company?

Response

The reseai-cher examined data to f ind out whethermanagement really expects efficient

YesNo fDo not knowTOTAL '

Frequency Y rcentage10182

30

33.3%60%6.7%10OYo


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Performance in the operations of the company, The re-spondents were expected to answer 'Yes', 'No' and also'Do not know'.

From the questionnaire, a lot of questions were asked tosee actually how the management are involved in theeffective management of the company in order to get anefficient performance. From the questionnaire, it wasasked if the staff of Nicon are experts in their variousfields. The respondents that chose the option 'Yes' were10 representing 33.3% of the total respondents. Thismeans thzt NICON Insurance Plc staff are not all thatexperts in their various fields and it could be possible alsothat no management education was given to them andwithout experts in various management field, the companywill not achieve its goals. Also 18 respondents represent-ing 60% said 'No' which means that the majority of therespondents are aware that NICON staff are not expertsin their various fields.

I


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Again, the researcher asked if management negotiateeffectively with workers at all levels of management. Therespondents were to choose the option 'Yes' if they feelthat they negotiate at all levels of management and selectthe option 'No', if they do not so. Also they are to select'Do not know' if they do not know anything as regardsto this. Out of the 30 respondents, 10 respondents sharedthe opinion that the management of the company donegotiate with workers at all levels of management.However, 18 respondents said that they d o not negotiateat all levels of the management. Also 2 respondentsshared the view that they are not aware of this.

Again the researcher examined the data to find outwhether the management of N E O N is efficient. In thisregards, the respondents were to choose options 'Yes','No' and 'Do not know'. Based on the views of therespondents, it could be deduced that majority of theopinions were in support that the management of NICONis' inefficient. NICON has been experiencing a lot of


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problems within the managemern l r r c l a ~ u u ~ .

XXESEARCMI QUESTION 3

This research question intended to find out how themanagement plant for their employees welfare.

TABLE 4.3

Do your company organize an employees welfare for theworkers?

ResponseYesNo :Do not knowTOTAL

Frequency2

Percentage

The date was examined by the researcher, and it wasfourid that 20 respondents said that the company do


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not organize an employees welfare like providing staff busfor the whole workers or provision of medical allowanceor pension/gratuity for their workers. The only 2 employ-ees that said 'Yes' have stayed with the managementlonger than others. The management have been organizingthis type of welfare for their employees years back butit has not been so with them recently, and this shows poormanagement in the company.

The respondents were also asked whether the manage-ment adequately motivate the s t a r of NICON for eficientperformance. But of the 30 respondents, 20 respondentsshared the opinion that the management do not motivatetheir staff for efficient performance adequately. And therespondents with this opinion took the highest percentage,that is 66.7% which shows inadequate management. How-ever, 2 respondents said that NICON motivate their staff,for efficient performance adequately. Also a respondentsshared the view that they are not aware of this.


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From the data collected, 10 out of t k respondents said'Yes' which is 33.3% of the total respondents and 18 said'NO' which is the highest percentage while 2 out of therespondents were ignorant of what was happening. Basedon these respondents answers, it could be deduced thatthe management of NICON has been ineficient and fromthe majority of the respondents, it is believed that theyhave not met the expectations of their customers in termsof clients services. This shows itself clearly because therate of claims settlement policy is low according to therespondents.

QUESTION 5

How do you rate the activities of your company in termsof its efficiency?

This question was designed to find cut whether NICONis actually eficient or not. The respondents perceptionsare on the table below.


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TABLE 4.5

How do you rate the activities of your company in termsof its efficiency?

Rate of the Company'sActivities I I

Frequency

Satisfactory

Percentage

Good I - I -FairTOTAL I 30 I 100Y0The researcher examined data to find out how to rate theactivities of the company in terms of its efficiency. Fromthe frequency distribution table, it can be deduced that atotal of 30 respondents representing 100% of the totalrespondents said fair. The 100% result obtained in thisquestion 'Is the operation of your company satisfactory/' could be treated to the fact that every Dick and Harryin the company knows that the operations of their com-pany are not satisfactory.


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Finally, the researcher asked again to find out on how torate the management operations of the company. Therespondents were to cl~ooscFrom the following options(a) High (b) Average (c) Low. Based on the perceptionof the respondents, 30 chose the option average. It shouldbe deduced here that the success or failure of anorganization depends crucially on the type, direction,effectiveness and efficiency of its management. Themanagement guides the workers towards the goal achieve-ment of the organization by boosting morale and motiva-tion.

Furthermore, efficient management devoid of manage-ment problems can only come about by the company,having up-to-date equipment, selection of competentemployees and becoming favourably known.


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CHAPTER FIVEFINDINGS, SUMMARY, CONCLUSION

AND RECOMMENDATION

5.1 FINDINGS OF THE STUDYFrom the data presented in the preceding chapter, thefollowing findings were made.

-The research found that the duration of managementposition of the compmy is very small, and that causesunstable management which makes it difficult for any setof. management colleagues to know actually the problemsinherent in the company.

- That most of the workers were under-graduates.- That the staff are not all that experts in their various

fields.- Thu: the management do not negotiate at all levels

of management.- That NICON has been experiencing a lot of problems

within 'the management hierarchy.


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That the management have not been organizingemployees' welfare for their workers.

That their employment criteria is not basically onmerit.

That they have not met the expectations of theircustomers in terms of clients services.

That the rate of claims settlement is low.

Final!y, the researcher was able to find out that therate of the management operations of the companyis average.

5.2 SUMMARY OF THE STUDYIn order to give this research work a frame of direction,it was founded on Simon's principle of efficiency. It wasfrom this principle of simon that the research questionsfrom where the questionnaire for this study was mergedand developed'. In the questionnaire, attempts were made


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cover the role of effective managtnent in an InsuranceIndustry. It is important to note that the roles whichmanagemeiit plays in an industry acts on each and everysection of the office level, Efforts were also made to seethat all categories of the workers were covered by theresearcher while preparing the questionnaire.

The findings resulting from the study were hoped to bevital to both current and would-be practising managers intheir regulation of operations of their organization moreespecially in areas of effective management.The secondary data collected or1 their topic of theresearch "Role of Effective Management in an InsuranceIndustry" showed consistently that there is a positiverelationship between management role and some organiza-tional consequences such a job performance, workersproductibe and operations turnover to mention just a few.Drucker stressed that there is a high degree of relation-ship between management and workers productivity.


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That management makes it easy or difiicult for them todevelop themselves. He directs people or misdirects them.It brings out what is in them or it stifles them. Itstrengthens their integrity or it corrupts them. It trainsthem to stand upright or strong or it deforms them. In thisview, management means a mult-purpose organ that man-ages a business and manages macagers and worker andwork for efficient productivity.

After reviewing the existing literature, the researcher de-cided to collect primary data in which case the issue waschannelled to N E O N Insurance Plc, Enugu. At thisjuncture, questionnaire was mad to investigate the role ofeffective management in an industry. A total of 36 ques-tionnaire items were distributed to a specified randomlyselected respondents. At the end of distribution and col-lection, 36 questionnaire items were received from therespondents among which 6 were not in order. The adjust-ment left the researcher with a useable number of 30questionnaire. It was these 30 questionnaire that waspresented and analysed by the researcher, findings weremade and recommendations were finally reached.


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5.3 COMCTdUSIIONIt could be rightly said that the general results of thepresent study on the role of Effective Management inInsurance Industry with particular reference to NICONInsurance Plc., Enugu with hope that the results from thisstudy would form basis for generalizing on the entirepublic enterprises in Nigeria.

The use of questionnaire and direct observation as instru-ments for collecting data for this study seemed to be veryeffective and suitable as it yielded much of the expectedpositive result. The distribution of the questionnaire wasdone by face to face method to the respondents andcollected in the same manner, enabled the researcher seefoi himself 'the way the respondents relate to themselvesand to the visitors too. This also enabled the researchermake explanations whenever necessary to the respon-dents. This is one advantage it has over mailing system.it does not give room for research/respondents face toface interaction.


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The method also allowed the respondents the opportunityto fill the questionnaire ~t will, some of these respondentshad the choice of taking these home and to f i l l themwhen they were less busy.

All the same. One can really say, looking broadly at thefindings of this study that there is inefficient managementin NICON lnsurance Plc. Inspite of the skcletal activitiesin the company, the financial problcms have remainedintractable. Bad management has remained the "bone"that have strangulated/choked the company.

5.4 RECOMMENDATIONTaking congnizance of the vital role this company ifproperly managed could play in the economic growth ofthis country, the study conducted to investigate the roleof effective management in Insurance industry has gen-erated a lot of useful results through its findings. Thefollowing recommendations, are proffered on the findingsand conclusions of the study:


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1. Provision of adequate management training for the man-agement. This will go a lung wsy in improving theefficiency of the company. Training should, as a matter offact, include such things as organizing seminars, tours,workshops, to mention but a few. In doing these things,efforts should always be made to see that such manage-ment training has relevance with efficient managementdevelopment.

It is sufficient to state now that while management train-ing is an important part of management development, itshould not be allowed to degenerate into not more thana series of formal courses, even when these are based onelaborate job descriptions, job analysis and performancereview systems. This guarantees a st~ttic nd increasinglyirrelevant approach. Formal training courses should onlybe used when it is essential to supplement what managersare learning on the job.


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2. Government should stay clear of the day-to-day runningof her companies. Management should be allowed a freehand to run the company. It is a high time governmentchose between efficient management of her companiesand wasting of tax - payers money.

3. The management should strictly base their employmentcriteria o n rn-rits so that professional and competentemployees would be enable to handle the managementpositions effectively.

4. In the questionnaire, it was asked whether the post of theChairman is an full time or part-time. the respondents saidthat it is on part-time. In view of this, it should be seenthat the management combines this work with anotherpart-time work thereby giving less attention to the opera-tions of ihis company. In order enhance an effectivemanagement, management should be o n full time.


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Armstong, Michael

Bernard, Chester 1.

Drocker, P. Peter

Ejiofor, Pita N.0.

Fromm, Erich

A Handbook of Personnel Man-agement Practice: London, theAchor Press Limited Tiptree Essen(1977).

The Functions of the Executive:Cambridge Mass: Harvard Uni-varsity Press (1938).

The Prsctice of Management:NewYork Parper and Brothers (1954).Management in Nigeria. Theoriesand Issues: Onitsha: AfricanaEducational Publishers N igeriaLimited (1981).

The Same Society: New YorkRinchard and Winston (1955).


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ICanawaty, George Managers of the 1980s: New YorkFolt Richard and Winston (1979).

Levit, Theodora Management and the Post Indus-trial Society: New York McGraw- Hill Book Company the PublicInterest Summer (1970).

McGxegor, Douglas The Human side of EnterpriseNew York McGraw-Hill BookCompany (1960).

Fundamentals of Statistics: EnuguChuka Printing Company (19GO).

Phachukwu, C. C. Management Theory and Practice:Onitsha Africana Feb Pub1ishers(1988).

Richman, B o M. and Comparative Management andFarmer, R. No Economic progress: Homewood 111Richard D Invn i lnc., (1965).


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Ross, J. E. and Corporate Management in CrisisKami, M.J Why the Mighty Fall: Eaglewood

Clifts. N. J. Prentice-Hall Tnc.(1973).

Shes, Gregory P. The Study of Bargaining andConflict Behaviour: Broadeningthe Conceptual Area: Journal ofConflict Resolution: Vol. 24 No. 4December, (1980).

Stoner, A.F. James Management: U .S.A. Library ofCongress Cataloguing in Publica-tion Data (1935).

Stalker, G.M. and The Management of InnovationBarns, To London Tavistock Publications

(1961).

The Elements of Administration:New York Harper and Brothers(1944)


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Whit

Third New International DictionaryU. S. A. Vol. 2 (1966)

and Ibbetson

r

U and The Management or Motivaion and Remuneration:Oxford Alden Press (1977).


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APPENDIX 1

QAUESTIONNAIRE SCHEDULE

Dear Respondents,

This questionnaire is on a study of the Role of EffectiveManagement in Insurance Industry and National InsuranceCorporation of Nigeria Plc, (NICON) as the Study.

You have been selected as one of the respondents for thisstudy. Your sincere opinion is requested. You are alsoassured that the information given by you will be treatedin confidence.

Please try to answer all the questions.

NZEPUOME HYACINTH CI-IIJIOKEDEPARTMENT OF MANAGEMENTUNIVERSITY OF NIGERIAENUGU Ch M PU S


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Please do not wr i te your name. No identification isnecessary. Please tick (I) in the box provided.

1. Sex: Male l Female2. What level of education did you attain before joining

the company?

Primary Six WASCIGCE11

3. For how long have you been in the company?Beiow 1 year / 1 - 3 yrsnAbove . 3 yrs

4. In what level of the organizational structure do youwork?Senior Management Middle Manage-ment[-] Junior Managementn


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5 . What was your age when you joined the company?Below 20 yrsI]0 - 30 yrsI(1- 40 y r s r l

6. Are the staff of NlCON experts in their various fields?Yes No Do not know (

7. Is the Management of NlCON efficient?Yes No Do not know

8. Does the Management negotiate effectively with workersat all levels of organization?

9. Wow do you rate the management operations of you-rcompany?Good No r . 1 Do not know [

10. Does the lnanagement of your company rotate?Yes1 o Do not know (

11. Does the management base their employment criteria onmerit?Yes No Do not kno4-1


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Does management adequately motivate the staff of NlCONfor efficient performance?Ycs(1 No[-1 Do not know

Is the payment of salary to employees regular?Yes T I No 1 Do not know

Are you happy as an employee of the company?Yes No T IDo your company organize an employees' welfare for theworkers?Yes ) NO Do 110t know 11How do you rate your company in terms of claimssettlement policy?

How do you rate your company in terms of clientsservices?

Documents

The Role of Effective Management in Insurance Industry