THE RELEVANCE O STRATEGIC MANAGEMENT IN A COMPETITIVE BANKING ENVIRONMENT (A CASE STUDY OF UNITED BANK FOR AFRICA PLC)
1.0 BACKGROUND OF THE STUDY
The history of UBA can be traced to British and French Limited, which originated from BANOGE NATIONAL four Le Commerce etc industries (established in 1832).
Early in 1949, Messer E.E Hunger Butler and C. H. Baker were seconded from Banyan National Pour le Commerce, etc industries (established in 1932).
Early in 1949, Messer E. E Hunger Butler and C. H. Baker were seconded from Banyan National pours i.e. commerce, etc industries (BNCL) to Lagos, where they were assigned to make initial arrangements for the setting up of the British and French Bank.
In May 1949, the British and French Bank operation in Nigeria at the broad street, Lagos which today house apart of Kingsway store complex of February 23rd, 1961, its registered office was at 127129 board street Lagos. Mr. F De la Julie was the first general manager with its establishment UBA became the first bank among the international bank operating in Nigeria at the time to be over #4 million. The following United Bank for Africa annual report 1980 pages were:
The British and French bank
Bank nationals del lavabo of study
Monte, de paschi di siena of study
Bankers trust of new York the USA
Amstardem Rotherdown Bank at Holland
The bank has grown from its initial one office
Structure in 1961 to 2001 as early 1995, the banks paid-up capital has risen to #120 million
1.1 PURPOSE OF THE STUDY
a. To reduce uncertainty in decision-making as far as possible by anticipating and planning for future events.
b. to make management move in a systematic way and form a long-term perspective, about concerns and short-term decisions.
c. To ensure that the external environment and trends in it are monitored for potential opportunities and threats.
d. To provide a mechanism for systematic appraisal of the internal strengths and weaknesses of the organization.
e. To provide a framework against which raw ideals for business development can be checked.
f. To element in learning and motivation, enabling individuals to appreciate the role gauge than progress and evaluate the exact to which their effort and energy are being constructively spent.
g. To organization need yardsticks against which success or lack of it can be measured (it doesn’t know where it's going or won’t know its arrival)
h. To help management to predict organization behavior to some extent.
1.2 STATEMENT OF THE PROBLEM
The problem include
Low growth of output A persistent depreciation of the naira exchange rate and its inflationary effort on prices. The high rate of unemployment Excessive high borrowing rate which discourages productive investment Reduction activities in the manufacturing sector.
1.3 SIGNIFICANCE OF THE STUDY
The main significance of the study is to examine the United Banks for Africa Plc carries out the strategies management in this area of deregulation. This research aims to describe and assess the following.
The extent to which the banks engaged in strategic planning The opportunities and threats traced by the banks The factor militating against its competitiveness.
The study shall also take a look at the internal structure at the bank with particular reference to:
The decision making and planning process The operational strength and weakness
Finally, the study tries to proffer solutions to problems being encountered and recommended alternative strategies.
1.4 DELIMITATION OF THE STUDY
The research work which is on strategies management in competitive banking environment requires geographically widespread and large population in view of the study to the banking environment in Osun State and with special emphasis to the strategic management of UBA Plc Osogbo, as it is possible to visit all the banks in Osun State talk less of that of the whole federation.
1.5 LIMITATION OF THE STUDY
The following limitation must be acknowledged as great constraints to the study.
Financial constraints. The economic situation in the country coupled with the ever-increasing in cost of materials services and other incidental costs imputed. Inputted into this research work made it difficult for the research to be carried out satisfaction. Strike action usually embarked upon in the academic environment by academic or nonacademic alike do create overlap among the academic calendar and bulk of academic work being lump together with other campus activities, thereby not creating enough time chance should be given to the student to operate on their research work by the student, the government school and existing in academic activities in campus in that more rooms would be created for a research project by the final year students.
1.6 DEFINITION OF TERMS
a. Planning is deciding what to do it, when to do it, and what to do it controlling coordinating organizing to achier the goals and objective
b. Corporate Appraisal is part of a complex process whereby organizations set objectives for themselves and plan how to meet them in a systematic fashion.
c. Objectives are those which are concerted with the goals work the organization as a whole.
d. Management thus has come to be called human resources management and embraces the personnel functions of manpower planning and resources recruitment retention, development, and control labour turnover..