(A SURVEY OF EXPLORATORY OIL FIRMS IN RIVERS STATE)
Complete Material Cost #3,000
This study assessed time management and corporate survival (a survey of selected exploratory oil firms in Rivers State). Both primary and secondary data were used which includes interview and postulated questionnaires. The data obtained from NLNG and Shell were analyzed using percentages as 80 questionnaires were given but only 75 were retrieved and it was discovered that there is a relationship between time management and corporate survival. The specific objectives of the study were in four folds: firstly, was to find out the awareness of time management among employees; secondly, was effectiveness utilization of time management; thirdly, to know if time management can ensure timely completion of assigned duties and fourthly, was to described challenges facing exploratory oil firms in implementing time management. It was summarized that the management of the firms should motivate their employees on how to manage time effectively. It was concluded that time management and corporate survival is very essential in every organization so as to achieve organizational set goals and objectives. Finally, I recommend that the management and staff of these exploratory oil firms in Rivers state under review should keep to proper and active time management so as to achieve both corporate and personal goals.
TABLE OF CONTENTS
TITLE PAGE i
TABLE OF CONTENTS viii
LIST OF TABLES x
LIST OF FIGURES xi
CHAPTER ONE 1
1.0 Introduction 1
1.1 Background of the Study 1
1.2 Statement of the Problem 4
1.3 Objectives of the Study 4
1.4 Significance of the Study 5
1.5 Research Questions 5
1.6 Statement of Hypothesis 6
1.7 Scope and Limitation of the Study 7
1.7.1 Scope of the Study 7
1.7.2 Limitation of the Study 7
1.8 Definition of Related Terms 7
CHAPTER TWO 9
2.1 Conceptual Framework 9
2.1.1 Conceptual Framework of Time Management and Corporate Survival 11
2.2 Theoretical Framework 12
2.3 Review of Literature on Subject Matter 14
2.3.1 Introduction 14
2.3.2 Greg’s Ten Tips for Time Management 18
2.3.3 Principles of Time Management 21
2.3.4 Strategies of Time Management 23
2.3.5 Challenges of Time Management 26
2.3.6 Concept of Corporate Survival 28
CHAPTER THREE 31
RESEARCH METHODOLOGY 31
3.1 Research Design 31
3.2 Population of the Study 31
3.3 Questionnaire Design 32
3.4 Sources of Data 33
3.5 Sample and Sampling Procedures 33
3.6 Research Instruments and Method of Data Collection 34
CHAPTER FOUR 35
DATA PRESENTATION AND ANALYSIS 35
4.1 Data Collection and Presentation 35
4.2 Data Analysis 36
CHAPTER FIVE 39
DISCUSSION OF FINDINGS 39
5.1 Awareness of Employees and Managers about Time Management 40
5.2 Time Management Ensure Timely Completion of Assigned Duties 40
CHAPTER SIX 42
SUMMARY, CONCLUSION AND RECOMMENDATION 42
6.1 Summary 42
6.2 Conclusion 42
6.3 Recommendation 43
APPENDIX I 46
APPENDIX II 47
1.1 Background of the Study
Time is the period during which actions or processes take place (Healtheir, 2005) defined time management as a scare resources which must be properly managed otherwise nothing can be managed.
Time management consists of tools and activities that help an individual effectively manage and strategize his time. Through effective time management one can increase individual or group productivity and experience large profit that will lead to a more satisfying over all work and life experience. Setting goals, delegation, decision making and delega5tion are key elements to perfecting time management.
1.1 Background of the Study
Time management and corporate survival is an essential resource every manager needs to achieve the goals and objectives of an organization. It is so dedicate that it cannot be saved but can only be spent and once misused it can never be regained. Every manager is looking for always to improve time management and corporate survival.
Barling, Cheung & Keloway (1999) defined time management as a factor of job performance that can contribute to an organization’s profitability, engaging in time management, particularly planning behaviours can also contribute positively to group performance.
Amstrong .M. (2006) defined time management as behaviours that aim at achieving an effective use f time while performing certain goals-directed activities.
Many of today’s time management books still emphasize efficiency and increasing productivity with little emphasize on effectiveness and life balance. Although, time management is greater than ever, as the pace of life increasing the perception of time changes. due to increasing level of specialization people concentrate on a single task at a time or a few single task, this is because they attend more on rumours than work and become bored sometimes.
According to (Oso & Olaniyan 2008, 127-133), the following are the attributes of time management:
i. Time management is a unique resource.
ii. It is the scarcest resource in the universe.
iii. Time management cannot be replaced by man.
iv. It cannot be accumulated like money.
v. It cannot be turned on and off like machine.
Therefore, time management needs to be taken into account that the implementation of corporate survival needs to be aligned with time management that needs to be adopted and linked to company’s specific branch.
Operational and strategic goals, current and future financial situation. As a manager, time management is an important factor needed to enhance various corporate survival i.e the way is being managed in an organization will reflect on its performance either positively or negatively. According to Joshua (2008), the survival ofg an organization is evaluated in terms of the degree of achievement of the organizational goals and objectives at what monetary costs and efficiency. Effective time management is a major challenge managers in Nigeria are facing today as they have a lot of duties to perform within a limited time.
According to Lakein (1973) defined time management as the use of a particular techniques such as to do lists or deliberately planning activities, or to participate in training with the purpose of learning how to master and use such as technique.
According to Allen (2001) “time management is defined as practices individuals follow to make better use of their time, it also refers to principles and systems that individuals use to make conscious decisions about the activities that occupy their time.
1.2 Statement of the Problem
Time is a necessity for every firm in achieving its goals and objectives. The attempt to accomplish the desired goal poses a great threat to the organization. The company faces a number of problems and challenges centering on inefficiencies in its time management. These could be stated as follow:
a) Lack of job security and poor working conditions of employees.
b) Lack of adequate maintenance of human resource policy.
c) Lack of proper structuring of the organization which is required to have a new trend that would enhance its efficiency and make it feasible.
d) Poor team building.
e) Lack of self discipline.
Therefore, the research problem is study of Time Management and Corporate Survival (A Case of Selected Exploratory Oil Firms in Rivers State).
1.3 Objectives of the Study
The purpose of this research was to ascertain Time Management and Corporate Survival.
i. To investigate the nature of time management in an organization.
ii. To define the importance of time management and corporate survival.
iii. To provide solutions to the problem of time wasting in Nigeria.
1.4 Significance of the Study
This research aimed at creating awareness and assessing Time Management and Corporate Survival in the Firm. Therefore, the study is expected to be of much value to the number of as people as follows;
Members of the firm will be informed on importance of Time Management and Corporate Survival. Also, it will help decision makers to formulate difference strategies which will help the implementation of Time Management and Corporate Survival.
The researchers will be benefited by identifying variable areas for further research, and will be used as an additional reference to researchers on Time Management and Corporate Survival.
1.5 Research Questions
What are the effectiveness and efficiency of Time Management and Corporate Survival?
i. Are the employees aware about Time Management and Corporate Survival?
ii. What are the effects of Time Management and Corporate Survival in ensuring timely completion of assigned duties?
iii. What is the effectiveness of Time Management and Corporate Survival in service delivery in Oil Firms?
iv. What are the challenges facing oil firms in implementing Time Management and Corporate Survival?
1.6 Statement of Hypothesis
This research is geared towards testing the following hypothesis;
1. H0: There is no significant relationship between time management and corporate survival.
H1: there is a significant relationship between time management and corporate survival.
2. H0: Time management is not related to employee efficiency and effectiveness in the oil firms.
H1: Time management is related to employee efficiency and effectiveness in the oil firms.
3. H0: Time management is not related to public service delivery.
H1: Time management is related to public services delivery
4. H0: There is no significant relationship between time management and corporate survival.
H1: There is a significant relationship between time management and corporate survival.
1.7 Scope and Limitation of the Study
1.7.1 Scope of the Study
This study is been stated on time management and corporate survival. The geographical scope of the study is a survey of selected exploratory oil firms in Rivers State.
1.7.2 Limitation of the Study
The most limiting factor encountered in course of carrying out this research work was lack of fund. Also, the time duration require for the completion was too short, hence not encouraging. Sourcing of materials was a different task due to the factor that some materials were not available at the time of writing. Despite all these constraints, the research will still be reliable for users.
1.8 Definition of Related Terms
Time: Time is the indefinite continued progress of existence and events in the past, present and future regarded as a whole.
Management: Management consists of the interlocking functions of creating corporate policy and organizing planning, controlling and directing on organization’s resources in order to achieve the objectives of the policy.
Corporate: Corporate is seen as having qualities (such as commercialism or lack of originality) associated with large firms or attributed to their influence or control.
Survival: Survival is the state or fact of continuing to live or exist, typically in spite of an accident, or deal, or difficult circumstance.