AN ASSESSMENT OF MARKETING MANAGEMENT IN THE BANKING INDUSTRY IN NASARAWA STATE

AN ASSESSMENT OF MARKETING MANAGEMENT IN THE BANKING INDUSTRY IN NASARAWA STATE

 (A case study of Eco Bank Nasarawa Town)

ABSTRACT

This research work was based on the assessment of marketing management in the banking industry in Nasarawa State. Eco Bank was picked to serve as a sample for the population in the course of the research, it was discovered that marketing management department form an integral part of the institution. Thus the development of the marketing management is important for the general development of the banking industry and the economy of the state. The researcher used questionnaire method to obtain information, organize the research work in five (5) chapters. The Chi-square method was used to analyze the necessary data obtained from the questionnaire returned. Adequate suggestions were made on marketing management that contributed to the profitability level of the Eco Bank.

CHAPTER ONE: INTRODUCTION

1. BACKGROUND OF THE STUDY

Large scale industry is an important sector in the business world which has a growing impact on all other sectors of the economy because of financial services provisions. In this volatile situation financial institutions were not left out as they are seriously affected by the level of competition both locally and internationally. The banking industry environment today is highly volatile (Schroder and Lacobulli 2001). Nigerian banks therefore needs to develop effective technique to enhance the interaction of customers and the bank staff. The complexity in the banking industry has made bank managers to focus on how to create close affiliation with their customers.

No wonder why Nigeria banks now create a separate department in the bank known as customers care unit to address customer issues and complaint in order to ensure that customers get value for their money thereby enhancing customer loyalty, building and maintaining customer’s cordial relationship in order to achieve an advantage that can lead to customer retention and increase profitability. Furthermore, loyal customers can provide the foundation for growth which leads to competitiveness in the industry. Also, the belief that relationship marketing (RM) investment builds stronger, more trusting customers relationship (Morgan andHunt 1994) and improves financial performance has led to massive spending on customer relationship programme.       

With the depressed nature of the Nigerian economy, struggle for survival cannot be over emphasized; where various sector of the economy are struggling to maintain status of a limited number of banks which our financial institutions are not left out in the struggle survey with the collapse of many banks. In the last few years, the need for the remaining ones to struggle and reach out to existing and potential customs has become more glaring. Their product and services are now being marketed to be achieved Shert (2005).

Marketing management provides the framework in which any industry inclusive realizes their long term profit. So it can be said that effective marketing management to be derived from the prospective own their existence to the public. They continue staying in business and their level of success depends on a large extent on the patronage enjoyed from public progressive bank operation since many banks are now folding up, the need is becoming more glaring.

Above all, the changing tasks expectation and increasing sophistication of the marketing management service in the banking industry. Their production orientation is that marketing management orientation has come to change the trend of buyers-market. There was a time when bankers sit behind table expecting deposit and sometimes even refusing to accept deposits from intending customers but that has passed. Banks now have to cultivate the habit of marketing management services the ratification syndrome of the banking firm is like the success of its operation or existence. Therefore, marketing management services in bank requires a planned orientation with best effectiveness.

Sheth (2005) also opines that customer relationship marketing would result into customers’ retention which has to do with creating relationship, Customers loyaltywhich has to do with developing relationship, and customer interaction may lead to customer retention. Considering the above arguments, Nigeria banks now adopt relationship marketing principles and design strategies to achieve and maintain close and long lasting relationship with the customers.

Marketing management strategy is applied to know where, what, when and how to tackle their ever dynamic situations for survival of the bank and the achievement of the cooperative objective. Finally, banks cannot afford to lose customers. They indeed strive hard to win customers heart but it must not stop at that, they should also retain the customer and this has to with its marketing management activities.

Studies disclose that Nigerian banks have embraced performance management significantly and that effective performance management reduces employee turnover and improves service quality. Again, there is a significant, positive relationship between leadership commitment and performance management effectiveness and significant positive relationship between communicating strategy to the staff and performance management. The study therefore recommends that Nigerian banks should invest on their employees and managers so as to drive and consolidate the gains of performance management to remain competitively relevant in the industry.

Marketing management is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services, to create and maintain relationships that will satisfy individual and organizational objective. It is fundamental to business growth. It basically includes getting goals and services to the final consumer satisfactorily.

Nigerian banks engage in an effort aimed at encouraging certain classes of customers resulting in rejection of deposits or accepting them on dictated terms due to the fact that there are few banks to render services to a considerable large number of customers which led to decline profit level. These changes therefore necessitated the need to find a way of promoting banking service which is possible with the impact of marketing management in the banking sector.

It is surprising that banks have not been able to come up with a comprehensive approach for marketing management of banking service and product. This process witnessed what is called aggressive marketing which is not a repute of what banking stands for in terms of integrity and utmost good faith. However, customers should be at the forefront in terms of the banks planning and cooperative thinking.

1.1     STATEMENT OF THE PROBLEMS

The point of investigation that is explored in this research is the assessment of marketing management in Eco bank Nassarawa Town, marketing management as it has demonstrated velocity of its growth is incredibly fast and efficient it’s as allow individuals including companies to perform their banking businesses. We will examine how marketing management will affect productivity and efficiency, and profitability of banks. Based on preliminary finding it has been observed that Eco bank in Nigeria lack effective marketing management, this make me to carry out a research on the assessment of marketing management in reference to Eco bank Nassarawa Town.

1.2     OBJECTIVES OF THE STUDY

This study aims at assessing performance management adoption in the banking Industry in Nigeria. In addition, the study seeks to achieve the following specific objectives:

1. To assess the extent at which marketing management has contributed to the banking industry with special reference to Eco bank Nigeria Plc. Nasarawa Branch.      
2. To determine if the location of the bank is important to customers.
3. To ascertain which services marketing management offer to customers.

1.3     RESEARCH QUESTIONS

i. To what extent has marketing management contributed to the growth of the bank?

          ii. How is the location of the bank important to customers?

iii. What other services does the marketing management offer to customers?

1.4     STATEMENT OF THE HYPOTHESIS

Hypothesis is a certain preposition made about a population, or it is an assumption which can be tested about population. Its test is usually carried out by using a sample. The following are the assumption of the research and they are drawn from statement of the problem. The hypothesis is stated in the null and alternative forms.

HYPOTHESIS 1

Hi: Marketing management has significant contribution to the banking industry in Nasarawa Town.

Ho: Marketing management has no significant contribution to the banking industry in Nasarawa Town.

HYPOTHESIS 2

Hi: Location of the bank has significant influence on customers of EcobankNasarawa Town.

Ho:Location of the bank has no significant influence on customers of EcobankNasarawa Town.

1.5     SIGNIFICANCE OF THE STUDY

Essentially, this work is not only to acquaint with the historical background of the bank but also primarily to unearth ways for adopting bank marketing management in a bank and come out with valid and reliable recommendations. More so, it will help scholars who want to research broadly on the topic by using this as a foundation to their research works, it will also help the government and management in the banking industry so that they could make interference from the work and adjust their marketing management strategies in order to achieve their set objectives or goals

1.6     SCOPE OF THE STUDY

The scope of this research work is focused on the analysis of the marketing management of Eco Bank and is aimed at improving the management skills to coordinate employers, technicians, experts, supervisors, upper level managers and their individual skills as designers, requirement operator and planner; which can encourage effective management and efficiency. This work will critically examine the cause and effect of poor marketing management in the banking industry and to proffer some useful solution to the problem.

1.7     LIMITATIONS OF THE STUDY

          The following are the limitations of the study:

1. Most bank information is kept a top secret and as such very small portion of information was disclosed.
2. Due to non-availability of undertaking the research to the fullest satisfaction, questionnaire administered was for few of the respondent, the researcher also limit his call to the banking firm.
3. Respondent’s attitudes in most occasions were uncompromising with the researcher for the simple reason that the study will not be any help to them.
4. Inability to commence the work as previously schedule, this is as a result of combine school and personal work with that of the research work.

1.8     OPERATIONAL DEFINITION OF TERMS

MARKETING: According to Philip Kotler (2003) defines marketing as the managementprocess through which goods and services move from concept to the customer.

MANAGEMENT: According to VienNichel (1981) defines Management (or managing) as the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources..

MARKETING MANAGEMENT: According to Philip Kotler (2004) defines marketing management is the organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm’s marketing resources and activities.

MARKET CONCEPTS: Is the strategy that companies use to market their products or services to customers. The goal of marketing management is to promote the benefits of a product and to satisfy consumer needs.

BANK MARKET: It is that part of management activities which seek to direct portability to existing customers.

MARKET ORIENTATION:Market orientation is a company philosophy focused on discovering and meeting the needs and desires of its customers through its product mix. Market orientation attempts to tailor products to meet the demands of customers.

BANK: According to Mace Sich and George (2003) defines a bank as a financial institution and a financial intermediary that accepts deposit and channel those deposits into lending activities either directly by learning or indirectly through capital markets.

SERVICES: According to Valerie Zenithal, ParasumArien and Leonard Beng (1990) defines service as a coherent ready to use deliverable that is of value to the customer service that allow customer to do business without worrying about underlying technology or IT infrastructure.

CUSTOMERS: According to KindallStepanie D. (2007) defines customer as an individual that purchase the goods and services produced by a business. The customer is the end goal of the business, since it is the customer who pays for supply and creates demand.

SATISFACTION: Customer level of approval when company fulfills  his or her expectation.

COMPETITION: Goal rivalry in which every seller tries to get what other sellers are seeking at the same time. Competition plays a regulatory function in banking demand and supply.

THE CONTRIBUTION OF THE BANKING INDUSTRY TO THE DEVELOPMENT OF NIGERIA ECONOMY

THE CONTRIBUTION OF THE BANKING INDUSTRY TO THE DEVELOPMENT OF NIGERIA ECONOMY

(A CASE STUDY OF UNITED BANK FOR AFRICA NASARAWA BRANCH)

ABSTRACT

The study examines the contribution of the banking industry to the development of Nigeria economy. Specifically, the study seeks to examine the relationship between economic growth and the level of financial intermediation and to determine the impact of interest rate on economic development of Nigeria. The study adopts survey method in order to obtain genuine information needed for the study. The research also make use of questionnaire as the instrument for data collection while the data collected was analyzed using tables, percentage and hypothesis were tested using Chi-Square. The findings of the study shows that there is a significant relationship between economic growth and the level of financial intermediation by the banks, and that banking industry interest rate have significant impact on economic development of Nigeria. Finally, the study recommend that the government should provide enabling environment for the banking industry to enable them carryout their financial intermediation responsibility very well and that the regulatory body responsible for regulating the interest rate charged by the bank should ensure that the banks do not charge too much or higher interest rates on loans.

CHAPTER ONE

INTRODUCTION

1. Background of the Study

The Nigeria economy revolves round the hub of an active banking industry which consists of financial institutions, financial markets, financial instruments and improved rules and regulations that facilitate and regulate the flow of funds from surplus units to the deficit units. The banking industry as a corporate entity that deals in financial claims, is controlled by the government through various regulatory bodies such as the CBN, NDIC and the SEC who supervise their activities. In Nigeria, the financial institution engages in mobilizing funds from the surplus sector of the economy and lends such funds to the deficit sector. In this way, it intermediates between the people with surplus funds and those in deficit and because of this vital role, it is called a financial intermediary (Ogboghro, 2013).

One of the key functions of Banking industry is financial intermediation and issuing of loan facilities to governments, organizations and virtually every sector of the economy. These economic sectors range from the manufacturing, agriculture, services, construction, transport, mining, oil and gas among others (Ugiagbe & Egbeonu, 2016). Obviously, both the public and private sectors of any economy need banking sector credits for more productive activities as prerequisites for enhancing a nation’s overall performance.

Economic growth or development is a sustainable increase in the value of goods and services in an economy within a given period of time. This could be measured by nominal gross domestic product, real gross domestic product, gross domestic product per capita or gross domestic product growth rate. The nominal gross domestic product is the total value of goods and services produced in an economy without adjusting for an inflation rate. A real gross domestic product is the total value of goods and services produced in an economy after adjusting for an inflation rate (Ugiagbe & Egbeonu, 2016).

Lucas (2018) noted that the development of any economy is greatly enhanced through a vibrant banking industry which serves the function of mobilizing savings from small and large savers in the economy and channels same to the fund users for investment purposes. All the sector of the economy needs funds to remain in operation and contribute to the nation’s overall performance. For it to survive and perform effectively there must be an investment which is synonymous with funding, hence the banking industry becomes a very relevant funnel. Soludo (2004) asserted that in Nigeria, deposit money banks are the largest financial intermediaries that transfer funds from surplus sector to the deficit sectors of the economy.

Banking industry provides credit facilities to individuals and companies, for one kind of economic activity or the other. It could be for industrialisation purpose, manufacturing, agricultural production, mining and quarrying, execution of contract among others. It is against this background that this study examines the contribution of the deposit money banks to the development of Nigeria Economy.

1. Statement of the Problem

Banking industry as the engine and prime mover of economy is supposed to be playing a leading role in empowering the other sectors of the economy especially the real sector to contribute to economic growth and development through improved GDP. Over the years, one of the major problems facing the banking industry in its intermediation role is how to ensure that loans/funds reach various sectors of the economy especially the real sectors and significantly impact on them in a positive way. Banking industry is expected to play a catalytic role of extending enough loans and advances to the real sectors in order to ensure their growth and contributions to the Gross Domestic Product (GDP) of the economy. The government has adopted so many policies to influence the flow of credits to the real sectors of the economy since early 1980s, but to the best of my knowledge, sufficient literature has not been in place as to assess the impact of such credits on the performance of the real sector’s GDP growth rate. The assessment is necessary because the conventional economic thinking relates banking sector performance to the extent to which it has inherent impacts on the transformation and improvement of the development of Nigeria economy. But unfortunately the roles of banks in the economic development have not been given adequate attention in the discussion of performance of GDP in Nigerian context. It is important to know the impact of the roles of banking industry on the development of Nigeria economy which can only be understood through a well-researched study, hence this study. In other words, there is insufficient empirical work on the contribution of the banking industry to the development of Nigeria economy.

1. Objective of the Study

The objective of this study is to examine the contribution of the banking industry to the development of Nigeria economy. The specific objectives are to:

1. To examine the relationship between economic growth and the level of financial intermediation.
2. To determine the impact of interest rate on economic development of Nigeria.

1. Research Questions
2. What is the relationship between economic growth and the level of financial intermediation?
3. What is the impact of interest rate on economic development of Nigeria?

1. Statement of Hypothesis

H₀₁: There are no significant relationship between economic growth and the level of financial intermediation.

H₀₂: The Banking industry interest rate has no significant impact on economic development of Nigeria.

1. Significance of the Study

The findings of this study on the contribution of the banking industry to the development of Nigeria Economy will of great significance or importance to the following:

1. Policy Makers and Regulators in the Industry:  To policy makers and regulators in the industry, it will present a scheme, through its analysis that could assist them in formulating policies that will not only positively impact on banks’ performances but also remain relevant in the economy of Nigeria.
2. Bankers: To bankers in general, it will expose the relationship existing between Deposit Money Banks and the Development of Nigeria Economy.
3. Academicians: In the academic arena, this study will prove to be significant in the following ways: v It will serve as a body of reserved work and knowledge to be referred to by researchers.  It will add value and enrich other literatures on banks’ performances in Nigeria and the world at large. It will suggest ways of enhancing the performance of the banking industry in Nigeria and the entire Nigerian economy. This will in turn, boost development positively which is usually affected by banks and their activities.

1. Scope of the Study

The scope of this study is limited to the examination of the contribution of the banking industry to the development of Nigeria Economy with particular reference to United Bank for Africa Nasarawa Branch.

1. Limitation of the Study

The major problems that tends to limited the scope of this study include the following:

• Time Constraint: The researchers had no enough time to carry out their research as have been planned because this project write up was coincided with other academic activities such as attending lectures, doing assignments and test
• Financial Constraint: Due to the economic situation that things are hard to come by, fund frustrated the researchers, but was able to take control of it.
• Materials: The researchers had no sufficient materials as to lay hands on books on the research topic. Also the First Bank Officials visited were reluctant initially to give useful information until a repeated visit.

1. Operational Definition of Terms
2. Bank: A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets.
3. Banking Sector: The banking sector is an industry and a section of the economy devoted to the holding of financial assets for others and investing those financial assets as a leveraged way to create more wealth.
4. Deposit Money Banks: Deposit money banks are resident depository corporations and quasi-corporations which have any liabilities in the form of deposits payable on demand, transferable by cheque or otherwise usable for making payments.
5. Discount House: A discount house is a financial institution that acts as an intermediary between the Central Bank and the licensed banks in open market operation transactions and other eligible securities. It also facilitates the issue and sale of short term Government securities and other short term commercial bills.
6. Economy: Economy is the wealth and resources of a country or region especially in terms of the production and consumption of goods and services.
7. Economic Growth: – is an increase in the capacity of an economy to produce good and service compared from period of time to another.
8. Banking Development: – is a financial institution concerned with providing all types of financial assistance (medium as well as long term) to business unit in the form of loan under writing, investment and guarantee operations and promotional activities and economic development in general.
9. Financial Intermediation: – is a productive activity in which an institutional unit incurs liabilities on its own account for the purpose of acquiring financial assets by engaging in financial transaction on the market.
10. Gross Domestic Product (GDP):  Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.
11. National Income: National income means the value of goods and services produced by a country during a financial year.

THE IMPACT OF MOTIVATION ON STAFF PERFORMANCE IN THE BANKING INDUSTRY IN NIGERIA

THE IMPACT OF MOTIVATION ON STAFF PERFORMANCE IN THE BANKING INDUSTRY IN NIGERIA

(A CASE STUDY OF UNITED BANK FOR AFRICA PLC NASARAWA STATE)

ABSTRACT

This study looked into the impact of motivation on staff performance in the banking industry in Nigeria. In carrying out this work, important research questions were asked. Relevant literatures were reviewed with the aim of authordictating the issue under study. The researcher used descriptive designing for the project layout for responding of data on the respondents response analysed using simple table, one of the finding showed that staffs join the organizations for the purpose of promotion and gratuity and ensuring the organizational growth. Based on this findings, certain recommendation were made which include that the management should strive hard to provide promotion to the staffs when due and again salary of the staff should be upgraded so as to motivates the performance of staffs in the banking industry.

CHAPTER ONE

INTRODUCTION

1. Background of the Study

Motivation, as a process, started with a need in human being which creates a vacuum in a person. In an attempt to fill the vacuum an internal driving force is generated which starts and sustains a chain of action and reaction. It is at that point that the vacuum is also filled. With this background information, Nnabuife (2019), define motivation as the internal or external driving force that produces the willingness to perform an act to a conclusive end. This first aspect of motivation is described as internal motivation because the driving force comes from within an individual. The second aspect is external motivation, is applied by the organization. This is because employees are motivated to identify with organization in order to satisfy their varied and variegates needs and desires. Until they have been identified and properly satisfied, they will never cease to impede smooth running of the organizations.

One of the biggest problems facing manager in the banking sector is how best to get employees committed to their work and put in their best towards the accomplishment of organization’s objectives. Motivation is concerned with why people do what they do. It answers such questions as why do managers or worker go to work and do a good job. This tries to explain what motivates people to act the way they do, with primary focus on the work place. It is the primary task of the manager to create and maintain an environment in which employees can work efficiently and realize the objectives of the organization.

The motivation of employees depends on the strength of their motives. Motives are need, wants, desire, or impulses within the individual and these determine human behaviour. Therefore, motivation is the process of arousing behaviour, sustaining behaviour progress, and channeling behaviour into a specific curse of action. Thus, motives (needs, desire) induce employees to act. Motivation therefore is the inner state that energies people, channels and sustains human behaviour. Since it has been established that all behavior except involving responses are goals directed, manager can apply motivational theories of management in their attempt to direct the job behaviour of employees towards the goal of their establishment. Every organization and business wants to be successful and have desire to get consent progress.

For achieving prosperity, organizations design different strategies to compete with the competitors and for increasing the performance of the organizations. A very few organization believe that the human personnel and employees of any organization have its main assets to which can lead them to success or if not focused well to decline. Unless and until, the employees of any organization are satisfied with it, are motivated for the tasks fulfillment and goals achievements and encouraged, none of the organization can progress or achieve success. Employee motivation is one of the policies of managers to increase effectual job management amongst employees in organization (shadier, 2019). A motivated employee is responsive of the definite goals and objectives he/she must achieve, therefore in that direction. Rutherford (1990) reported that motivation formulates an organization more successful because provoked employee are constantly looking for improved practices to do a work, so it is essential for organizations to persuade motivation of their employees (Kalimullah, 2017).

However, the performance of an organization is jointly determined by the employees’ capacity and their willingness to put in their best (William, 2016). Willingness and ability are important, since it implies that beyond a certain level, lack of ability cannot be compensated for willingness to high motivation and conversely lack of willingness cannot be compensated for employee‟s ability to high level performance. Willingness and ability are necessary components of effective performance in every organization.

1. Statement of the Problem

The current era is highly competitive and organizations regardless of size, technology and market focus are facing employee retention challenges. Workers’ performance could be of low standard, in condition of inadequate motivation. Most employees leave there place of work, because of insufficient motivation. Some are willing to stay, because they know that what they benefit in terms of welfare packages (salaries, bonuses, free expense paid trips and some other tips) are not often available somewhere else. The major problem is how to motivate employees to achieving higher performance in the Nigerian banking industry, thus the need to increase productivity and efficiency in the work place or any organization has led to increasing academic interest in the area of motivation over the years. Scholars have been keenly  interested in knowing what factors are responsible for stimulating the will to work. Thus motivation has become an issue of concern for both scholars and practitioners of personnel management. Employees in both public and private sector organization are becoming increasingly aware that motivation increases productivity. Lack of proper motivation may result in losses which may eventually lead to low staff turnover, poor attitude towards work, low output level and low profitability. It is in the light of these that the study intends to look into the impact of motivation on staff performance in the banking industry in Nigeria.

1. Objective of the Study

The main objective of this study is to examine the impact of motivation on staff performance in the banking industry in Nigeria with a particular interest in United Bank for Africa. Other specific objectives are:

1. To investigate the motivational techniques adopted by the United Bank for Africa Nasarawa Branch.
2. To examine the response of the staff to motivational techniques adopted by United Bank for Africa Nasarawa Branch.
3. To find out the problem hindering the success of the employees motivation in the organization
4. To ascertain if motivation lead to higher staff performance and productivity.

1.4     Research Questions

1. What are the motivational techniques adopted by United Bank for Africa Nasarawa Branch to retain her employees?
2. How responsive is the employees to motivational reward adopted by the bank?
3. What are the factors hindering the success of employee’s motivation in the company?
4. Which of the incentives given to the staff lead them to higher performance and productivity?

1.5     Statement of Hypotheses

Ho1: The motivational techniques adopted by manufacturing firms do not significantly lead to retention of the employees.

Ho2: The employees do not significantly respond to the motivational rewards adopted by the company

 Ho3:The factor hindering the success of employees motivation has no significant to the employees performance and productivity.

Ho4: The incentives given to the employees do not significantly lead to higher performance and productivity

1.      Significance of the Study

The study will be vital in so many ways. The findings from this study were beneficial not only to the workers of the bank but also the financial sector as a whole. That is, this study was useful at three levels namely, the individual level that is the workers of United Bank for Africa were informed as to the incentive programmes available to them and how best to utilize them for personal development and improved performance. Also, at the institutional level, it helped the bank review their employee motivational policies and strategies which increased staff productivity and enhanced growth and productivity.

Finally, at the national level it helped in the retention of workers and essential for all financial institution especially banks. At the end of this study, the researcher’s aim was to bring to bear the plight of the employees at UBA. To make recommendations that will aid policy makers in decision. The result of the study was also added to the existing body of knowledge on the issue of motivation and productivity in the banking sector.

1.  Scope of the Study

The scope of the study was limited to United Bank for Africa (UBA) Nasarawa Branch and the study targeted only on full-time workers. The respondents were the Board of Directors, the management team and the entire permanent workers of United Bank for Africa Nasarawa Branch. The study focused on the various motivational packages for the staff of UBA and how it influenced their performance, the challenges that UBA faced in its attempt to motivate staff and employee perception of motivational strategies in UBA.

1.     Limitation of the Study

Notwithstanding the areas covered by this research work, the study was greatly affected by certain constraints. The following limitations were inherent in the study.

Time Factor: This research was constrained by time limit. Time posed a threat to the successful coverage intended in the course of this study.

Cost Constraint: It is not unusual to state that the prevailing economic predicament posed a limitation to the researcher in procuring the whole material information and other relevant data needed to make this research a thorough work.

Confidentiality: The frequent rescheduling of interviews by management staff and their unwillingness to disclose some relevant information on staff motivation and training which they consider very confidential to the organization constitute one of the major limitations to this study.

1.9     Operational Definition of Terms

Motivation: Motivation refers to the forces within or beyond a person that arouse and sustain their commitment to a course of action (Boddy, 2018). The process people go through to need their needs is need-motive-behaviour-satisfaction or dissatisfaction (Lussier, 2015).

Incentive: Incentive is an act or promise for greater action; it means additional remuneration or benefit to an employee in recognition of achievement or better work. Incentives provide a spur or zeal in the employees for better performance. It is a natural thing that nobody acts without a purpose behind.

Performance: This indicates how well or satisfactory a person is fulfilling the requirement of his position on the basis of result achieved and his/her action on the job. The researcher looked at performance as the assessment of output in a giver task or work with a view of achieving result.

Productivity: Melli(2017) defined productivity as the measure of how well resources are brought together in an organization and utilized for accomplishing a set of result. The researcher sees productivity as reaching the highest level of performance with less expenditure of resources.

Job Satisfaction: According to Locke (2016) defined Job satisfaction as a situation in which a worker’s job fulfills what he values.

Intrinsic Motivation: According to Fritz Heider (2015) said intrinsic motivation comes from rewards inherent to a task or activity itself. Hertzberg (1959) “said” intrinsic motivation, develop internally and comes from, something the workers want to do.

Extrinsic Motivation: Fritz Heider(2011) said that this motivation comes from outside of the performers money is the most obvious example but coercion and threat of punishment are common extrinsic motivation.

Salaries / Wages: These are refers to as financial compensation for work done. Salaries are financial compensation for work done by standing professional or clerical personnel whose salaries are paid monthly.

Incentive and Fringe Benefits: These are defines as additional incomes that accrue to a worker in addition to his salaries and wages. They are used to induce people to contribute their efforts towards achieving organizational goals.