COMPLETE PROJECT

AN INVESTIGATION OF MANAGEMENT BY OBEJECTIVE AND ORGANIZATIONAL PERFORMANCE IN THE NIGERIAN BANKING SYSTEM (A CASE STUDY OF UNITED BANK FOR AFRICA PLC) BY SAMI ABIODUN ADEYINKA MATRIC NO: 140203105 A PROJECT SUBMITTED TO THE DEPARTMENT OF BUSINESS ADMINISTRATION IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.Sc.). DEGREE IN BUSINESS ADMINSTRAION, FACULTY OF MANAGEMENT SCIENCES, UNIVERSITY OF LAGOS AKOKA. JUNE, 2018. CERTIFICATION I certify that this research study titled “(An Investigation Of Management By Obejective And Organizational Performance In The Nigerian Banking System (A Case Study Of United Bank For Africa Plc)” work was carried out by Sami Abiodun Adeyinka, with Matriculation Number: 140203105 under my closed supervision. _______________________ _ ___________________. Dr. A. G. Rahim Date Project Supervisor ______________________ __________________ Dr. Dixon Ogbechi Date Head, Business Administration DEDICATION I dedicate this project to God Almighty for His faithfulness, kindness and sufficient mercy upon me throughout my academic career in University of Lagos. ACKNOWLEDGEMENTS I am indeed grateful to Almighty God whose grace has kept me through all my journey in the University of Lagos. I am grateful to my able supervisor Dr. A.G. Rahim, for his time, guidance, support, encouragement and also instilling in me the spirit of hard work. May the good Lord continue to strengthen you. My sincere appreciation to all lecturers in the Department of Business Administration, my Course Adviser Dr. T.O. Olufayo, for inculcating in us the right attitude for academic prowess. Am also grateful to my parents Dr. R.T. Sami and Mrs R. Sami who despite all the odds make sacrifice to ensure I complete my education. My sincere appreciation goes to my siblings and cousins for their unending love and encouragements which has been a source of inspiration for me, May God bless you. Finally my appreciation goes to my wonderful friends, MrPona, Midey, theScoop, Eluku, and BOA class of ’18 who have contributed directly and indirectly to the success of my academic pursuit, I cherish you and your advice.  ABSTRACT Management by objective allows management to focus on achievable goals and to attain the best possible result from available resources. It aims to increase organization performance by allying firm’s goals and subordinate objectives, throughout the organization. The study examines the effect of management by objectives (MBO) on organisation performance. This study adopted cross-sectional surveys. The sample size for this study was 288. The statistical tool used in this study was Kendall rank correlation coefficient. The results showed that objective setting is consider a critical issues that all employees should be involve in. The findings revealed that the sales revenue of this organization has improved significantly. It is recommended that management by objectives in its ideal form operates in such a way that for the corporate goals to be realized, manager should consult his subordinates in drawing up unit objectives, which goes up the hierarchy from where it is modified, collected, approved and distributed throughout the organization.  TABLE OF CONTENTS Title Pages Certification ii Dedication iii Acknowledgement iv Abstract v Table of contents vi CHAPTERT ONE INTRODUCTION 1.1 Background to the Study 1 1.2 Statement of the Problem 3 1.3 Aim and Objectives of the Study 3 Research Questions 3 1.5 Research Hypotheses 4 1.6 Significance of the Study 4 1.7 Scope and Delimitation of the Study 4 1.8 Definition of Operational Terms 4 References 5 CHAPTER TWO LITERATURE REVIEW 2.1 Preamble 7 2.2 Theoretical Framework 7 2.2.1 Goal-setting Theory 7 2.2.2 Role Stress Theory 7 2.3 Conceptual Framework 13 2.3.1 Management by Objectives 13 2.3.2 Organisational Performance 14 2.4 Application of Management by Objective 15 2.4.1 Organization Objective Setting 18 2.5 School Of Thought on Management by Objectives 20 2.6 The relationship between Management By Objectives and Organisational Performance References 25 CHAPTER THREE RESEARCH METHODOLOGY 3.1 Preamble 27 3.2 Research Design 27 3.3 Population of the Study 27 3.5 Validity and Reliability of the Instrument 28 3.6 Research Instrument 29 3.7 Method of Data Analysis 29 References 30 CHAPTER FOUR DATA PRESENTATION AND ANALYSIS 4.1 Introduction 32 4.2 Analysis of Demographic Characteristic of Respondents 32 4.3 Analysis of Respondents Responses to Questionnaire 33 4.4 Test Hypotheses 41 CHAPTER FIVE SUMMARY OF THE STUDY, CONCLUSION, RECOMMENDATIONS 5.1 Introduction 43 5.2 Summary of the Study 43 5.3 Conclusion 43 5.4 Recommendations 44 5.5 Suggestion for Further Studies 44  List of Tables Table 4.1: Gender of Respondents 32 Table 4.2: Current Marital Status of Respondents 32 Table 4.3: Age of Respondents 32 Table 4.4: Education Qualification of Respondents 33 Table 4.5: Employee Cadre of Respondents 33 Table 4.6: Employees across all cadres are encouraged to partake in decision making process 34 Table 4.7: Employees of this organization make input to objectives setting in this organization 34 Table 4.8: Top management collaborates with employees across all levels to solicit their opinions on policy issues 35 Table 4.9: There is high level of collaboration on policy implementation procedures in this organization 35 Table 4.10: Objective setting is consider a critical issues that all employees should be involve in. 36 Table 4.11: Communication framework is very robust to ensure easy implementation of policy in this organization 36 Table 4.13: This organization has experience performance stability over the years 38 Table 4.14: The market share of this organization has grown considerably 39 Table 4.14: The market share of this organization has grown considerably 39 Table 4.16: Service delivery performance of this organization is impressive 40 Table 4.17: This organization is position to be a market leader in its industry 40 Table 4.18: Correlations Result on management by objective and organisational performance 41 Table 4.19a: Model Summaryb to investigate the management by objective influence of organisational performance 42 Table 4.19b: Coefficientsa management by objective influence of organisational performance 42  CHAPTERT ONE INTRODUCTION 1.1 Background to the Study The survival of any organization require deliberate plan for achieving future goals and objectives. Therefore, organization must be strategic about how it intends to accomplish its objectives and goals (Lively, 2011). Management by Objective (MBO) is one of the processes of participatory management or empowerment. The Management by Objective (MBO) approach, requires must managers set specific objectives to be achieved in the future and encourages them to continually ask what more can be done to improve organisational performance (Fried & Slovik, 2016). According to Wibeck, Johansson and Öberg (2016), MBO is a process or system designed for supervisory managers in which a manager and his or her subordinate jointly set objectives to be accomplished within a set time frame and for which the subordinate is then held directly responsible. All organizations exist for a purpose and to achieve that purpose, top management sets goals and objectives that are common to the whole organization. Maguire (2013) states that MBO was initially a development of a synthesis of process which are goal setting, participation in decision making, and objective feedback, in an MBO program, a supervision and attempt to promote employee participation in an attempt accomplish the gem of organisation (Wibeck et al., 2016).  Management by objective allows management to focus on achievable goals and to attain the best possible result from available resources. It aims to increase organization performance by allying firm’s goals and subordinate objectives, throughout the organization. Ideally, employees get strong input to identify their objectives, and time, lines for completion e.t.c. MBO include ongoing tracking and feedback in the process to achievement objectives. Management by objective (MBO) also focuses on the result not the activity they delegate task to subordinate to accomplish specific goals or key results (Hastings & Hawkins, 2009). According to Hansung and Stoner (2008), all organizations exist for a purpose and to achieve that purpose, top management sets goals and objectives that are common to the whole organization. Plans and objectives are passed down from one managerial level to another and subordinates are told what to do and what they will be held responsible for (Hansung & Stoner, 2008). The superior conveys specific goals and measures must the subordinate that he or she is expected to accomplish. Together they develop a group of specific goals, measures achievement, and time frames in which the subordinate commits himself or herself to the accomplishment of those goals (Drucker, 1954 cited in Fried & Slovik, 2016). According to Coetzee and Rothmann (2015) cited in Fried & Slovik, 2016), the manager and the subordinate may have occasional progress reviews and reevaluation meetings but at the end of the set period of time, the subordinate is judged on the results the he or she has achieved. He or she may be rewarded for success by promotion or salary increases or he or she may be fired or transferred to a job that will provide needed training or supervision. Whatever the outcome, it will be based on the accomplishment of the goals the subordinate had some part in setting and committed himself or herself to achieving. The overriding purpose is to improve the performance of the organisation in the short and long run. Therefore, MBO is very important to the accomplishment of organization goals and objectives.  1.2 Statement of the Problem For organization to survive and have competitive advantage over its competitors business organization must developed, improving their performance, policy, programmers, philosophy and practice, aimed at communicated. Poor performance, employee resistance, conflict role ambiguity and ill relationship among superiors and subordinate. The immediate consequences are communication breakdown, lack of employee commitment and declining organisational performance. Consequently, firm must participatory decision setting goals and objectives of the organization to enhance their performance. 1.3 Aim and Objectives of the Study The aim of this study to is examine management by objectives (MBO) and its effect on organisation performance. The specific objectives are to: Examine the relationship between management by objective and organisational performance of United Bank for Africa Plc. Study the influence of management by objective on organisational performance of United Bank for Africa Plc. Research Questions What is the relationship between management by objective and organisational performance of United Bank for Africa Plc? What is the influence of management by objective on organisational performance of United Bank for Africa Plc?  1.5 Research Hypotheses There is no significant relationship between management by objective and organisational performance of United Bank for Africa Plc. Management by objective will not significantly influence organisational performance of United Bank for Africa Plc. 1.6 Significance of the Study This study will broaden firms’ knowledge about the impact of MBO as a steering device of MBO. The overall importance is to increase understanding of the effects of the implementation of MBO in an organisation in the banking sector. This study will also add to the previous and existing literature on this discourse. Another significant is the understanding of the subject matter by the investor or business owners. Through this study it, the managements will also recognize the need to systematically learn how to indicate goals and how to manage their subordinates, towards it accomplishment. Furthermore, this study is an eye opener for companies to involve their subordinates in setting objectives as it will elicit higher productivity, profitability growth, sustainability of the organization as well as customer and employee satisfaction. 1.7 Scope and Delimitation of the Study This study focused on the use of MBO and organization performance of United Bank for African Plc. Thus, the topic focuses on two variables management by objectives and organizational performance. 1.8 Definition of Operational Terms Communication: Communication is a process of transmitting information from one person to another either verbal or inverbal medium. Performance is referred to as being about doing the work, as well as being about the results achieved. Feedback: Technical term from system theory used primarily, to describe outcome of attractive or operations. Goal: is a future state that an organization or individual strives to achieve. Values: are defined as a group of attitudes about a concept that contains a moral quality of like or dislike and acceptable or unacceptable. Job Satisfaction: This is the degree to which individuals feel positive or negatively about their jobs. Management by Objectives: is a management model that aims to improve performance of an organization by clearly defining objectives that are agreed to by both management and employees. Management: it refers to getting things (activities) done through with people by planning, organization, coordinating, directing and controlling. Objectives: This an end goal toward which all activities should be aimed. Organization: An organization can be described as a planned coordination of the activities of a number of people in the service of mutual harp for the achievement of a common goal through division of labour and function through hierarchy of authority and responsibility Productivity: Is a measure of employee performance or outputs Strategy: A term that deals with organization goals and objectives it could be long terms or future terms.  REFERENCES Fried, Y., & Slovik, L. H. (2016). Enriching Goal-Setting Theory with Time: An Integrated Approach. The Academy of Management review, 29(3), 404-422. Hansung, K., & Stoner, M. (2008). Burnout and turnover intention among social workers: effects of role stress, job autonomy and social support. Journal of Administration in Social Work, 32(3), 5-25. Hastings, J. F., & Hawkins, J. (2009). Body Weight and Goal Setting among Multiracial Young Women: Results from the California Health Interview Survey (CHIS). Journal of African American Studies, 13(1), 14-28. Lively, B. T. (2011). Management by objectives: getting back to basics. Journal on management System Corporation, 7(3), 1-5. Maguire, C. M. (2013). Management by Objectives: Applications for or Nursing. AORN Journal, 45(3), 752-753. Wibeck, V., Johansson, M., Larsson, A., & Öberg, G. (2016). Communicative aspects of environmental management by objectives: Examples from the Swedish context. Journal of Environment Management, 37(4), 461-469.  CHAPTER TWO LITERATURE REVIEW 2.1 Preamble This chapter review the theories related to MBO and organisation’s performance. 2.2 Theoretical Framework The following theories underpinned in this study; 21 Goal-setting Theory Goal-setting studies are based on the research of Ryan (1970) and have their roots in organizational theory. McClelland (1953) argues that individuals have subconscious, internal motives, one of which is “the need for achievement.” Atkinson (1958) went further and showed that the level of the difficulty of a task was related to performance, and when Ryan (1970) cited in Braunstein, Klein, & Pachula, (2016) showed that conscious goals affect action, the basis for formulating and working with goal-setting theory was founded. Further development of the theory and its application in empirical research soon followed. The founders and most active researchers for four decades were Gary Latham and Edwin Locke. They studied the relationship between conscious performance goals and level of task performance. The research field has developed further since the work of these pioneers. The core premise is a solid and well developed theory, and it is used to study different contexts (Locke & Latham, 2006 cited in Braunstein et al., 2016). Goal-setting theory is one of the dominant motivational theories in the study of organizational behaviour (Feather, 1990). The goal mechanism is built on the fact that goals affect performance through several mechanisms. It is not enough to ask people to do their best. Goals direct attention and have an energizing function. Bandura and Cervone (1983) cited in Braunstein et al (2016) have shown that ambitious goals lead to greater effort than modest ones. Goals also affect persistence, and LaPorte and Nath (1976) cited in Ogbo (2014) argued that when participants have control over time they can achieve a goal. If goals are ambitious, they influence performance such that efforts to achieve them are prolonged. Wood and Locke (1990) cited in Ogbo (2014) found that the use of strategies, task-relevant knowledge and discovery are indirectly and positively affected by goals. According to Locke (1991a), the importance of goals can be summarized by emphasizing that goals influence action by affecting intensity, duration, and direction of action. The influence of goal is far-reaching because their importance impacts on the interactions, self-efficacy and performance of individuals. When situations become complex and individuals must develop new strategies for solving problems, goal-setting must change character. This is because in such contexts, learning goals are more efficient than performance goals (Earley et al., 1989 cited in Ogbo, 2014). The relationship between goals and performance depends on individuals’ commitments to the goals (Seijts & Latham, 2000 cited in Braunstein et al., 2016). By definition, without commitment there are no goals (Locke & Latham, 2002 cited in Braunstein et al., 2016). Commitment can be cultivated in many ways. One common method in organizations is to create a monetary incentive. If the size of the monetary incentive is appropriate and it is perceived as possible to earn it, then it can enhance goal commitment (Lee et al., 1997). Hollenbeck et al, 1989) argues that making a public commitment will work, while scholars such as Ronan et al, (1973) cited in Braunstein et al., (2016) suggest that visionary leaders can inspire and bring about the same result. Another alternative theory is that goals become more important if those who are in charge of achieving them also participate in setting them. However, there is no clear evidence that one approach is much more effective than the others for creating high levels of commitment (Wagner & Gooding 1987a, 1987b cited in Ogbo, 2014). Self-efficacy is another important factor in the accomplishment of goals. It entails a belief that one is capable of carrying out the actions necessary to manage a prospective situation. Self-efficacy is defined as an individual’s perception that he/she is capable of successfully carrying out a particular task (Bandura, 1986). Bandura (1992) cited in Ogbo (2014) argues that self-efficacy influences motivation, encouraging individuals to persist in the face of obstacles, but also impacts how they approach and attempt to achieve their goals. It also affects how individuals choose to resolve challenges. The stronger self-efficacy an individual has, the greater is his/her sustained effort to avoid failure and the more rapidly he/she recovers from setbacks. High self-efficacy is also associated with better performance. Goal setting theory has developed during the four decades in which it has been used to study different empirical settings. It has developed in different directions and has sometimes become more sophisticated. The core of the theory has been the same since it was first developed. Goal setting theory has become the dominant motivational theory, and it is valid and useful. The effects of goal setting on performance have been a major topic of research. It has been addressed in many studies that span a wide variety of environments. Numerous studies have shown that goals are associated with improved results: in health, in sports (Duda, 2007; Mellalieu et al., 2006), sales persons (Fu, 2009), academic achievement and learning (Carlton, 1993; Phillips & Gully; 1997 cited in Braunstein et al., 2016), idea generation in organizations, team building, organizational units (Rogers & Hunter, 1991), organizations (Baum et al., 2001 cited in Braunstein et al., 2016). and MBO (Thompson et al, 1981 cited in Braunstein et al., 2016). In their studies “New directions of goal-setting theories” Locke and Latham (2006) discuss a possible research path for the future. Ogbo (2014) argues that goal setting theory is an open one that can be developed by integrating it with other theories. Inspired by this suggestion, the research presented here is based on an integration of goal setting theory with MBO and diffusion theory. The dissertation also seeks to combine goal setting and role stress theory. Managers were charged with implementing the new steering device, which emphasized the importance of developing goals for organisations. Integrating goal setting and role stress theories can enrich our understanding of the effects that the new control instruments have had on day-to-day activities in the local – i.e. school – environment. It can also shed light on how MBO has influenced managers in their new roles and impacted their role performance. MBO is closely linked to goal setting theory because goals are a necessary component of it. Similarly, since all organizational changes cause stress, role stress theory is a useful tool for studying the effects of implementing MBO. 22 Role Stress Theory The point of departure for role stress theory is that there are organizational expectations about individuals’ behaviour based on the roles that they hold. These role expectations are supposed to coincide with the expectations that individuals have about how they are to act given the role they hold. When these expectations do not coincide, when there is a lack of consensus about appropriate behaviour, problematic interactions are likely. When role expectations are unclear, individuals do not know what to do or how to act in order to behave role-appropriately. The role theory literature emphasizes the dysfunctional impact that role stressors – i.e. role ambiguity, role conflict and role overload – can have on individuals and how they are connected to, and can have harmful influence on, role performance. The impact of role stressors has often been seen as negative and the relationship as linear (Gilboa et al, 2008). Role ambiguity exists when norms adhering to a specific position are vague, unclear or ill-defined. The problem arises when employees are unclear about their responsibilities or when other role-related information is unclear (King & King, 1990 cited in Braunstein et al., 2016). Role conflict arises when individuals experience divergent role expectations and/or conflicting demands (Kahn et al., 1964). Role overload occurs when an individual accepts an increased workload in order to live up to role expectations, but time and resources available to do so are inadequate. Khan et al. (1964) defines role overload as the perception that one lacks the resources necessary to meet role expectations and the distraction and stress caused by trying to cope with this situation. There are many studies of role conflict and role ambiguity and their influence on different types of chronic stress (Gilboa et.al., 2008; Jackson & Schuler, 1985 cited in Braunstein et al., 2016). Role overload has also been extensively researched (Bolino & Turnley, 2005; Briggs, 2005; Gilboa et al., 2008; Selmer & Fenner, 2009 cited in Braunstein et al., 2016). Several studies on role overload have explored the relationship between overload and commitment (Brown & Benson, 2005; Glazer & Beehr, 2005; Coetzee & Rothman, 2005 cited in Braunstein et al., 2016). Jones et al., (2007) cited in Braunstein et al., (2016) argues that individuals accept role overload because they have strong commitments. Brown et al., (2005) argues that significant role overload decreases the effect of setting ambitious goals. It also tends to lower performance, which illustrates the connection between role theory and goal setting theories. From this perspective, the impact of role stress is negative and the negative consequences increase as levels of stress go up (Braunstein et al., 2016). In contrast to this, there are a growing number of scholars who have a different view of the effects of role stress. Kemery (2006) cited in Ogbo (2014), makes his position clear in the title of his studies “Role stress is not always bad.” This alternative perspective can be traced to Selye’s (1975) distinction between two types of stress: distress and eustress. The latter takes its name from the Greek “eu,” which means good or well and focuses on the positive influences that stress can have. Some studies show that the three role stressors are beneficial at certain levels (Ogbo, 2014). Above and below these optimal levels, role stressors are detrimental. Influenced by Yerkes and Dodson (1908) cited in Ogbo (2014), research based on this view of the impact of role stressors shows that their influence can be represented by a linear curve, which makes it possible to estimate an optimal level of stress. Gilboa et al.’s (2008) cited in Ogbo (2014) meta-analysis concluded that the view that stress has a linear impact on performance has been seriously called into question. They also call for further research about the relationship between stressors, suggesting that different stressors may have different relationships, some adding to and some diminishing the overall stress experienced by an individual. Ogbo (2014) argues that further exploration of the potential non-linear effects of stressors is warranted. The research presented here has been influenced by these recommendations and should be seen as an extension of the work of Gilboa et al. Role stress theory has recently been used in a wide variety of empirical settings, and researchers have focused on both employees and management at different organizational levels. Some recent examples are Hansung and Stoner (2008), who studied social workers, Thomas and Lankau (2004), who examined healthcare professionals and Onyemah (2008) and Conley (2009), who studied sales people and teachers. Leung el al, (2008) focused on managers, while O’Driscoll and Beehr (2007) studied how supervisors influenced the role stress experienced by their employees. With the current interest in the role stress theory, it can be argued that it is appropriate to study the manager’s management role and role performance when MBO becomes implemented. It has previously been described how the change of the managers working situation involve many factors that can be highlighted by choosing this theory. A more diffuse role provides a basis for conflicting interpretations, different expectations and the influence of role stress. Role stress theory creates opportunities both to increase the understanding of the managers’ new situation in the role and how important factors influence role performance. 2.3 CONCEPTUAL FRAMEWORK This study is underpinned by the 2.3.1 Management by Objectives Management by objectives (MBO) is a systematic and organized approach that allows management to focus on achievable goals and to attain the best possible results from available resources. Management by Objectives (MBO) is a theory of management proposed by Drucker (1956). It relies on the defining of objectives for each employee and then comparing and directing employee performance against the objectives that have been set. Greenwood (2001) defined MBO as a broader term that encompasses managerial decisions and actions that help to ensure that an organization formulates and maintains a beneficial fit with its’ environment consistent with its objectives and goals. Performance is understood as achievement of the organization in relation with its set goals. It includes outcomes achieved, or accomplished through contribution of individuals or teams to the organization‘s strategic goals. The term performance encompasses economic as well as behavioural outcomes. Tahir et al., (2008) described MBO as involving the establishment and communication of organizational goals, the setting of individual goals in line with the organizational goals, the periodic and final review of performance in relation to the organizational goals. Drucker (2006) highlighted the principles of MBO as consisting of cascading of organizational goals and objectives; specific objectives for each member, participative decision-making, explicit time period and performance evaluation and feedback. Nwosu (2008) described MBO as a technique of management that attempts to relate organizational goals to individual performances and development through the involvement of all levels of management. MBO is thus a management technique that involves the application of collective objectives, action, vision, insight, and inspiration in organisations in such a way that fundamental changes in direction, development, productivity, perceptions or beliefs occur in both followers and the organisation. Studies have shown that the application of MBO to organizations leads to a transformation of the resources of the organisation in order to bring about realization of organizational objectives (Bottoms and O’Neil, 2001; Carr, 2005). 2.3.2 Organisational Performance Ogbo, Onekanma and Ukpere (2014) views performance more comprehensively by encompassing both behaviors and results. Ogbo et al., (2014) further stated that behaviors as outcomes in their own right‘, which can be judged apart from results‘. Performance has great impact on organisation through Being, Doing and Relating. Being is concerned with the competencies of the manage that are relevant to orgamnisation performance. It is preparedness of the mind of the manager. Doing focuses on the manage activities that are variably effective at different levels in the organization: that affect performance of other roles dependent on the manage output, and the organizational performance as a whole. Performance has a linkage with the individual potential and how best it is realized by the individual. With regard to manage, his/her potential becomes the input to the productive process and performance is the output. Manager’s Potential is determined when a set of tasks are assigned to him. It is also related to performance standards set. Task-related activities refer to manager‘s or supervisors involvement to achieve the allocated task or meet expectations in the given task environment. Performance is what the manager’s actually achieve. Performance in a role refers to the extent to which the manager‘s achieve the purpose for which the role is created (Ogbo et al., 2014). Task-related activities refer to managee‘s or supervisors involvement to achieve the allocated task or meet expectations in the given task environment. Performance is what the manager’s actually achieve. Performance in a role refers to the extent to which the managers achieve the purpose for which the role is created. Choice, not chance‘, they say, determines destiny‘. The actual performance of a manager is a function of several forces, internals as well as external to the organization-some of choice, some of chance. Most organizations do not take these forces into account-either systematically or intuitively-while building expectations from a manager. A manager in her task environment could be subject to some of the influences and factors shown in Exhibit (Ogbo et al., 2014). The benefits of MBO include: focusing managers and employees’ efforts on goal attainment; improved performance, motivation of employees, encouragement of innovation and enhancement of communication. In essence, MBO has several elements that promote change in the workplace. Cunningham et al. (2002) cited in Okoye (2014), a range of studies, have identified workplace contributions to readiness for organisational change, including feeling empowered in one’s job, believing that one possesses the skills, attitudes and opportunities to manage change, which in turn affect work-related self-efficacy, and social support. Dobby, Anscombe and Tuffin (2004) cited in Okoye, (2014), found that objective setting and employee empowerment as implied in the MBO are relevant to leadership. 2.4 Application of Management by Objective To understand how management by objectives can be applied, it is necessary to look at the parts of the process. Management by objective can be divided into multiple steps in many combinations, but three main one will be discussed. Organization objective setting, manager objective setting and objective review (Mullins, 2005 cited in Rho, 2009). 2.4.1 Organization Objective Setting According to Rho (2009), setting objectives is the most difficult step in management by objective. Objective answers the question "what are we trying to accomplish? This step requires the top managers of an organization to review, the purpose for which the organization exist. In the military, this may require the view of the mission statement and a discussion of its meaning. This is an important requirement, for periodic review re-emphasizes, the continuing need for the existence of the organization. With this mission in mind, the commander or supervisor and his staff must then set organizational objectives in areas where the unit will concentrate its efforts during the approaching objective setting period. These objectives are: i) To provide direction to the entire organization and ii)To provide guidelines for subordinate - level managers to formulate their objective. As a result of this organizational objectives setting step, air force managers showed, realized that a mission statement is a goal that defines the continuing purpose of an organization. That mission statement, however, does not define specific methods accomplishing the goal stated. Management by objectives helps formulate these specific methods that are necessary to accomplish the mission (Peter, 2015). 2.4.2 Manager objective Setting Each individual manager in the organization must now determine the objectives for his business. This procedure takes place in three general steps: Identifying key result areas, writing objectives, and negotiating with the boss. First the manager must identify the key result areas of responsibility that are assigned to this unit. In other words, just as the commander reviewed the whole organization in order to set organization objective, the manager reviews his part of the organization in order to set his objectives. It is important for the individual business manager to identify the areas of his unit where most of the results are obtained (Williams, 2007). Williams (2007) find that 20 percent of his area of responsibility will produce 80 percent of his results. It is important that he identify and zero in on these key result areas for management by objective to be effective. After a manager has identified his key areas of responsibility, he is ready to sit down and write his objectives. The main criteria that he should remember in writing objectives are that they should be specific, measurable, realistic and result oriented. They should be specific in that there can be no confusion about what is expected. According to Williams (2007), employees must be realistic but still challenging. The objectives should be result-oriented, concentrating on the output of the organization and not on its internal activities or procedures. After the managers objectives have been written he enters the participative management phase of this technique. The subordinate manager sits down with his boss and they agree on the subordinate's objective. This requires a realistic commitment on the part of both individuals. The agreement on the objective signifies the approval of the expected results (output) required of the subordinate. Progress towards these results can now be pursued by the subordinate until the requirement is reached or the goal is changed (Rho, 2009). 2.4.3 Objective Review After the setting of objectives has been agreed upon by the subordinates, managers, and its boss, the stage is set for managing by these objectives. This managing process is responsibility of the subordinate manager, and it is interrupted only by mutually arranged, formal review sessions with the commander In order words, management by objective requires that each individual have the freedom to perform a well-defined task without interference. There are two types of objective reviews according to (Mullin, 2005 cited in Rho, 2009). Intermediate and final progress and identifying problems that stands in the way of accomplishing objective. Most problems are not foreseeable at the time objectives are written; they appear only when action is taken to accomplish the objectives. The result of this intermediate session should be either the agree on a plan that resolves the blockage of objective accomplished or change the objectives. The final review is to determine objective accomplishment in this session the subordinate's objectives are reviewed for the entire period. In addition, the session concentrates on the renewal of the objective setting cycle by establishing a basis from which to plan the objectives for the next period. The superior gains an additional benefit from this session since it provides him with input on which to evaluate the subordinates and organizational performance. If the focus of the session is on the objectives and it does not breakdown into personal recrimination of the individual, then the review will be true appraisal of performance not personality (Rho, 2009: Upadhaya, Munir, & Blount, 2014). 2.4.4 Role of Management by Objectives in Organization Performance Management by objectives was initiated by Peter cited in Upadhaya, Munir and Blount (2014), and it has been tested by many scholars about how useful and appropriate it is as the managerial tool. At the beginning management by objective tool was only a simple approach that use of goal setting to be a guideline. A goal is a statement of a desired future an organization wishes to achieve. It describes what the organization is trying accomplish. Goals may be strategic (making broad statements of where the organization wishes to be at some future point) or tactical (defining specific short-term results for units within the organization). Goals serve as an internal source of motivation and commitment and provide a guide to action as well as a means of measuring performance. Defining organizational goals helps to conceptualize and articulate the future direction of the organization, thus allowing those responsible for setting that direction to develop a common understanding of where the organization is heading. Goals provide a way of assuring that the organization and individuals within the organization will get where they want to go (Locke & Latham, 2012). Dinesh and Palmer (1998) cited in Weimann, Hinz, Scott, & Pollock (2010), compares management by objective with the Balanced score card and indicated that both of them focus on "goal cognisance as a means of improving performance". But management by objective had two significant flaws "identified as partial implementation of the system and non-recognition of the need to adopt a human-relations view". Management by objective helps improve performance. Three studies examine this relationship. Rogers and Hunter (1992) cited in Weimann et al., (2010) conducts the meta-analysis of management by objectives applications in both public and private sectors resulting that 100 percent of the public sector studies reported performance gain after the introduction of management by objective. Their findings pointed out that high commitment to management by objectives from top management will create the significant gain, and management by objective in both public and private sectors was equally effective. Smith, et al (1996) cited in Weimann et al., (2010) examines current performance appraisal methods. Two hundred and fifty managers in the U.S. were asked through questionnaires about performance appraisals. The responses revealed that management by objective has remained a popular format. In the literature on the relationship between participation in decision making and performance, Tuijl, et al (2004) cited in Weimann et al., (2010)conducts a quasi-experimental field study campaigning participation and tell-and-sell strategy. The result indicated that participation in the design of performance management systems gave the higher performance from individual technicians than tell-and-sell strategy did. Researchers also explored the relationship between management by objective and team performance, and the result demonstrated that management by objectives is the powerful tool to develop group efficiency. Although some studies gave negative feedback, management by objective is still widely accepted in most organizations. Management by objective helps communicate between managers and subordinates, which will lead to the goal achievement. Also the higher commitment in management by objective from top management will generate the significant gain in both public and private sectors. As for extra-role behaviour, participation in management by objective gives higher performance and creates self -efficacy from workers as the study shows the result that "people who know that they have effective ways of performing a task will be more confident than people who are unsure of how to perform effectively" (Lathem, et al, 1994 cited in Williams, 2007). Management by objective is useful. This managerial tool gives positive effect on job satisfaction, team performance, performance appraisal, self-efficacy and organizational performance. By setting reasonable and challenging goals, not looking at the subordinates as tools and rather applying participation in decision making, the use of management by objective is an organization is a powerful tool in management (Weimann et al., 2010). 2.5 School Of Thought on Management by Objectives There are two major organisations of thought on how management by objectives should be implemented to enhance organizational performance, although there is an agreement on its usefulness. The first school of thought, which follows the Drucker analysis, looks at management by objective as an administrative planning tool. The second school of thought, which follows the Gregory emphasis, views management by objective as a method of employee participation, development and supervision (Williams, 2007). The Drucker School bases their appropriate goals in light of the demands of its client and the needs of a changing world. The Mcgregor school views the implementation of management by objective as a way to provide participation, direction and motivation to employ there reasons include providing for improvement in supervision. Management by objective is a systematic approach to management planning and supervision that establishes common goals and objectives that must be achieved the objectives to those who must do the work. The two major interpretations of management are the human relations and the systems orientations are at least three subsets: Management by objectives as a result-oriented administers development approach and unique sensitivity training programme (Ogbo et al., 2014). The systems-oriented conceptualization of management by objectives, but sees this as only one compound incomplete organization. The entire organization is perceived as being a goal-seeking mechanism. It is important that all such out-comes be identified, classified and expressed in measurable terms. Management by objectives becomes the main device in the overall planning and control of all dimensions of the organization (Rho, 2009). The relevance, clarity, measurability and feasibility of the statement of objectives are all important to such management systems. It is not only top management that operates in this mode but also the commitment extends to all administrative levels, from organization goals to division objectives to operational objectives down to the very specifically targeted objectives. Management by objectives is a participative management style. The manner in which objectives are arrived at can be as important as their quality and reliance. Objectives can and should be jointly determined with full participation from all administrators and other appropriate professional at all levels in the hierarchy (Williams, 2007). 2.6 The relationship between Management By Objectives and Organisational Performance Management by objectives (MBO) is a management model that aims to improve performance of an organization by clearly defining objectives that are agreed to by both management and employees. According to the theory, having a say in goal setting and action plans should ensure better participation and commitment among employees, as well as alignment of objectives across the organization. Management by objectives (MBO) has been advocated as a tool to improve management effectiveness for over twenty-five years. Drucker (1954) cited in Yeh & Taylor (2008) first advocated MBO as a systematic approach to setting objectives that would lead to improved organizational performance and employee satisfaction. A multitude of private sector business organizations and public sector organizations have implemented some form of MBO. A number of descriptive articles provide testimonials to the effectiveness of MBO, but few comprehensive studies have tested these claims. Most of the MBO literature has focused on describing the technique, suggesting the steps for implementation, and listing the advantages and disadvantages of adopting an MBO program. It is claims that MBO improves employee motivation and commitment, and ensures better communication between management and employees. However, an oft-cited weakness is that MBO unduly emphasizes the setting of goals to attain objectives, rather than working on a systematic plan to do so. Management by objective helps improve performance (Yeh & Taylor, 2008) According to Drucker (2006), objectives of MBO are determined with the employees and are challenging but achievable. There is daily feedback, and the focus is on rewards rather than punishment. Personal growth and development are emphasized, rather than negativity for failing to reach the objectives. Drucker (2006) believed MBO was not a cure-all, but a tool to be utilized. It gives organizations a process, with many practitioners claiming the success of MBO is dependent on the support from top management, clearly outlined objectives, and trained managers who can implement it. Performance in these studies measured only subjects’ perceptions of performance improvement; no objective measures of performance were made. Rho (2009) indicated that MBO improved satisfaction and performance, but no tests of significance were made and the definition of the criterion for performance was not indicated. The second study found participative goal setting to be important to satisfaction and performance improvement if the respondent had a high need for autonomy. Steers (1975) found, through questionnaire data acquired from 133 female first level supervisors, that satisfaction and job involvement were enhanced by an MBO program. Steers (1975) identified goal specificity and need for achievement as important components of the improvement process (Weimann, Hinz, Scott, & Pollock, 2010). MBO has influence on employee’s satisfaction and performance. Several of these studies, however, did not statistically test performance changes (Tosi and Carroll, 1968, 1969, and 1970) and none of the studies used a control group or examined changes longitudinally (Weimann et al., 2010). Studies that have used objective measures of performance include Raia (1965, 1966), Ivancevich (1974), and Muczyk (1978). Raia’s studies reported a performance improvement but no statistical tests were used. Ivancevich (1974) used archival records to measure performance for two experimental groups and a control group. He found a statistically significant improvement in performance in one of the experimental groups but only directional support in the other. Ivancevich measured satisfaction through the use of the grievance rates at each of three plants. A significant increase in grievances was experienced. Muczyk (1978) evaluated MBO in a bank setting and over several performance measures found no statistically significant differences between the experimental and control groups.  References Ogbo, A. I., Onekanma I. V, &Ukpere.W.I (2014),The Impact of Effective Inventory Control Management on Organisational Performance: A Study of 7up Bottling Company Nile Mile Enugu, Nigeria;Mediterranean Journal of Social Sciences ,5(10),109-118. Retrieved from Doi:10.5901/mjss.2014.v5n10p109 Okoye, J.C (2014) Communication Effectiveness in Public and Private Organisation. Enugu: HRV publishers. Peter, L.(2015). Effective Business Communication, McGraw Hill Inc. New york. Publishing Nigerian Limited 18-24. Rho, E. (2009). The impact of organizational communication on public and nonprofit managers’ Upadhaya, B., Munir, R., & Blount, Y. (2014).Association between performance measurement systems and organizational effectiveness. International Journal of Operations & Production Management, 34(7), 2-2.Retrieved from, https://en.wikipedia.org/wiki/ Weimann.P, Hinz.C, Scott. E & Pollock.M(2010). Changing the Communication Culture of Distributed Teams in a World Where Communication is Neither Perfect nor Complete; The Electronic Journal Information Systems Evaluation,13 (2),187 – 196. Retrieved fromhttp/www.ejise.com Williams,C.(2007) Management 4th edition. USA: Thomas Higher Education Yeh, C. M., & Taylor, T. (2008). Issues of governance in sport organizations: A Question of Board Size, Structure and Roles. World Leisure Journal, 50(1), 33–45.Retrieved from, doi:10.1080/04419057.2008.9674525 Cook, D. M. (2016). The impact on managers of frequency of feedback. Academy of Management Journal, 1968, 11, 263-277. Braunstein, D. N., Klein, G. A., & Pachula, M. (2016).Feedback expectancy and shifts in student ratings of college faculty. Journal of Applied Psychology, 1973, 58, 254-258.  CHAPTER THREE RESEARCH METHODOLOGY 3.1 Preamble This section discusses the procedures for gathering data, the study design, and the methods to be adopted in analyzing the data. 3.2 Research Design This study adopted cross sectional survey design. A cross-sectional survey collects data to make inferences about a population of interest (universe) at one point in time. Cross-sectional surveys have been described as snapshots of the populations about which they gather data (Young and Hagerty, 2007). Cross-sectional surveys may be repeated periodically; however, in a repeated cross-sectional survey, respondents to the survey at one point in time are not intentionally sampled again, although a respondent to one administration of the survey could be randomly selected for a subsequent one. Cross-sectional surveys can thus be contrasted with panel surveys, for which the individual respondents are followed over time (Yauch & Steudel, 2003). 3.3 Population of the Study The population of this study encompassed the employees of United Bank for Africa Plc in Lagos State. The population size of staff (contract and full staff) in Lagos State only was one thousand and twenty five (1025) according to department of human resources of UBA Plc. 3.4 Sample Size Determination The following format was used to determine the sample size. It was determined from the population unit using Taro Yameni’s formula cited in Barbie (2011), Given as n = Where n= desired sample size N = Population size E= Maximum acceptable margin of error 5% (0.05) 1= A theoretical constant Therefore n= n=287.719298245614 n= 288 Out of the total population (1025), 288 samples were drawn from them. Two hundred and eighty eight samples were taken for survey through the convenience sampling technique. This was used for this study because of the nature of the population of study and the behavioural pattern of the profession that they are more on ground than what obtains in United Bank for African (UBA). This work certified Cooper and Schinder (2006), criteria for usage of stratified random method namely: (a) increased sample‘s statistical efficiency; (b) adequacy of data for analyzing the various sub populations or strata; and the usage of different research methods and procedures for different strata. In addition, the study ensured that stratified sampling was used in this study to ensure that the UBA branches with their different numbers of staff are well represented. However thirty six (36) respondents were selected from the eight (8) departments in all UBA branches of Lagos State. 3.5 Validity and Reliability of the Instrument The questionnaire was subjected to face and content validity by given it to the supervisor. His comments was taken into consideration in amending the questionnaire. Subsequently, the questionnaire was given to twenty staff of UBA PLC to assess its reliability. Cronbach's Alpha was used and the value revealed the instrument is reliable with Cronbach's Alpha exceeding < 0.7 and above for the variable. 3.6 Research Instrument The research instrument used in this study was questionnaire. Asika (2000) defines a questionnaire as consisting a set of questions designed to gather information or data for analysis, the result of which are used to answer the research questions or used for the test of relevant hypotheses. The questionnaire was carefully designed to accommodate two sections. The first section is personal data (Demographic characters of respondents) which was used to generate data regarding the respondent characteristics like sex, age, educational background, etc. while the order deals on relevant aspects of the topic under study. The questionnaire contents only purposeful statements based on research questions in the previous chapter. All questions or statements were closed to elicit standardized response. Five statements were derived from each research questions to measure the influence of celebrity endorsement on consumer behaviour on a 5-point likert scale: Strongly agree-5; Agree- 4; Undecided- 3; Disagree- 2; and Strongly Disagree- 1. 3.7 Method of Data Analysis An analysis tools used in this study were descriptive and inferential statistics. The descriptive statistics consisted of frequency and percentage tables while the inferential statistics was Kendall rank correlation coefficient. The data analysis computer programme (SPSS Version 26.0) was used.  References ACAPS (2012) Qualitative and Quantitative Research Techniques for Humanitarian Needs Assessment. Adeniji, A. A. (2011). organizational climate and job satisfaction among academic staff in some selected private universities in southwest nigeria. phD Thesis: Pretoria, University of Pretoria. Akuezuilo EO, Agu N (2003). Research and statistics in education and social sciences: methods and applications. Awka: Nuel Centi Publishers. Asika, N. (2000). Research Methodology in the Behavioural Science. Ikeja: Longman. Barbie, E. (2011). Survey Research Methods, California: Wadeswirth Publishing Company, 2nd, Edition. Brink, H. I. (2006). Foundations of Research Methodology. Kenwyn: Juta. Dudwick, N., Kuehnast, K., Jones, V. N., & Woolcock, M. (2006) Analyzing Social Capital in Context: A Guide to Using Qualitative Methods and Data, World Bank Institute, Washington. Yauch, C. A. & Steudel, H. J. (2003) Complementary Use of Qualitative and Quantitative Cultural Assessment Methods, Organizational Research Methods, Vol. 6, No. 4, pp. 465-481. Young, C. & Hagerty, R. (2007) Blending Qualitative and Quantitative Methods for Program Evaluation: The Application and Insights of the Exit Interview, 4th Annual Meeting of the American Political Science Association Teaching and Learning Conference, Charlotte. CHAPTER FOUR DATA PRESENTATION AND ANALYSIS 4.1 Introduction This chapter deals with presentation analysis of data. 4.2 Analysis of Demographic Characteristic of Respondents Table 4.1: Gender of Respondents Variables Frequency Percent Valid Percent Cumulative Percent Male 79 27.4 27.4 27.4 Female 209 72.6 72.6 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Table 4.1 shows that results from the analyses of the socio-demographic characteristics of the respondents indicated that majority of the respondents are female suggesting that most of the respondents of bank are female. Table 4.2: Current Marital Status of Respondents Variables Frequency Percent Valid Percent Cumulative Percent Single 188 65.3 65.3 65.3 Married 100 34.7 34.7 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. From table 4.2, majority of the respondents were single with 65.3% while 34.7% are married. Table 4.3: Age of Respondents Variables Frequency Percent Valid Percent Cumulative Percent 18 - 30 years 129 44.8 44.8 44.8 31 - 45 years 138 47.9 47.9 92.7 46 years and above 21 7.3 7.3 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. From the Table 4.3, 44.8% of the respondents are from between 18 - 30 years, 47.9% are between 31 - 45 years, 7.3% are between 46 years and above. Table 4.4: Education Qualification of Respondents Variables Frequency Percent Valid Percent Cumulative Percent OND 5 1.7 1.7 1.7 NCE 5 1.7 1.7 3.5 HND 14 4.9 4.9 8.3 B.Sc 258 89.6 89.6 97.9 M.Sc 6 2.1 2.1 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Table 4.4 shows that 1.7% of the respondents are OND and NCE holder, 4.9% are HND holder, 89.6% are B.Sc are holder while 2.1% are M.Sc holder. Table 4.5: Employee Cadre of Respondents Variables Frequency Percent Valid Percent Cumulative Percent Junior Level 26 9.0 9.0 9.0 Middle level 178 61.8 61.8 70.8 Management level 84 29.2 29.2 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Table 4.5 shows that 29.2% of the respondents’ employee cadre is management level, 61.8% are middle level and 9% are junior level.  4.3 Analysis of Respondents Responses to Questionnaire Table 4.6: Employees across all cadres are encouraged to partake in decision making process Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 12 4.2 4.2 4.2 Disagree 6 2.1 2.1 6.3 Neither Agree nor Disagree 9 3.1 3.1 9.4 Agree 108 37.5 37.5 46.9 Strongly Agree 153 53.1 53.1 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. The research question one tries to find the relationship between management by objective and organisational performance of United Bank for Africa Plc. Questionnaire items numbers 6 was used to analyze research question one. In Table 46, the results showed that 51.3% of the respondents strongly agreed that employees across all cadres are encouraged to partake in decision making process, 37.5% agreed, 3.1% neither agreed nor disagreed, 2.1% disagreed while 4.2% strongly disagreed. Table 4.7: Employees of this organization make input to objectives setting in this organization Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 18 6.3 6.3 6.3 Disagree 18 6.3 6.3 12.5 Neither Agree nor Disagree 13 4.5 4.5 17.0 Agree 86 29.9 29.9 46.9 Strongly Agree 153 53.1 53.1 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. The research question one tries to find the relationship between management by objective and organisational performance of United Bank for Africa Plc. Questionnaire items numbers 7 was used to analyze research question one. The results showed that 53.1% of the respondents strongly agreed that employees of this organization make input to objectives setting in this organization, 29.9% agreed, 4.5% neither agreed nor disagreed, 6.3% disagreed while 6.3% strongly disagreed. Table 4.8: Top management collaborates with employees across all levels to solicit their opinions on policy issues Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 35 12.2 12.2 12.2 Disagree 13 4.5 4.5 16.7 Neither Agree nor Disagree 5 1.7 1.7 18.4 Agree 46 16.0 16.0 34.4 Strongly Agree 189 65.6 65.6 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. The results from statement item 8 indicated that 65.5% of the respondents strongly agreed that top management collaborates with employees across all levels to solicit their opinions on policy issues, 16% agreed, 1.7% neither agreed nor disagreed, 4.5% disagreed while 12.2% strongly disagreed. Table 4.9: There is high level of collaboration on policy implementation procedures in this organization Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 12 4.2 4.2 4.2 Disagree 3 1.0 1.0 5.2 Neither Agree nor Disagree 7 2.4 2.4 7.6 Agree 89 30.9 30.9 38.5 Strongly Agree 177 61.5 61.5 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. From the table 4.9, questionnaire items numbers 9 was used to analyze research question one. The results showed that 61.5% of the respondents strongly agreed that there is high level of collaboration on policy implementation procedures in this organization, 30.9% agreed, 2.4% neither agreed nor disagreed, 1.0% disagreed while 4.2% strongly disagreed. Table 4.10: Objective setting is consider a critical issues that all employees should be involve in. Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 12 4.2 4.2 4.2 Disagree 3 1.0 1.0 5.2 Neither Agree nor Disagree 3 1.0 1.0 6.3 Agree 51 17.7 17.7 24.0 Strongly Agree 219 76.0 76.0 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Research question one was answered with questionnaire items 10. The research question asked finds the relationship between management by objective and organisational performance of United Bank for Africa Plc. Responses from the analyses were shown in Table 4.10. The results showed that 76% of the respondents strongly agreed that objective setting is consider a critical issues that all employees should be involve in, 17.7% agreed, 1.0% neither agreed nor disagreed, 1.0% disagreed while 4.2% strongly disagreed. Table 4.11: Communication framework is very robust to ensure easy implementation of policy in this organization. Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 18 6.3 6.3 6.3 Disagree 3 1.0 1.0 7.3 Neither Agree nor Disagree 6 2.1 2.1 9.4 Agree 78 27.1 27.1 36.5 Strongly Agree 183 63.5 63.5 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Research question one was answered with questionnaire items 11. The research question asked finds the relationship between management by objective and organisational performance of United Bank for Africa Plc. Responses from the analyses were shown in Table 4.11. The results showed that 63.5% of the respondents strongly agreed that communication framework is very robust to ensure easy implementation of policy in this organization, 27.1% agreed, 2.1% neither agreed nor disagreed, 1.0% disagreed while 6.3% strongly disagreed. Table 4.12: The sales revenue of this organization has improved significantly. Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 14 4.9 4.9 4.9 Disagree 15 5.2 5.2 10.1 Neither Agree nor Disagree 17 5.9 5.9 16.0 Agree 124 43.1 43.1 59.0 Strongly Agree 118 41.0 41.0 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Research question two was answered with questionnaire items 12. The research question asked finds the influence of management by objective on organisational performance of United Bank for Africa Plc. Responses from the analyses were shown in Table 4.12. The results showed that 41% of the respondents strongly agreed that the sales revenue of this organization has improved significantly, 43.1% agreed, 5.9% neither agreed nor disagreed, 5.2% disagreed while 4.9% strongly disagreed. Table 4.13: This organization has experience performance stability over the years Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 18 6.3 6.3 6.3 Disagree 6 2.1 2.1 8.3 Neither Agree nor Disagree 18 6.3 6.3 14.6 Agree 136 47.2 47.2 61.8 Strongly Agree 110 38.2 38.2 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Research question two was answered with questionnaire items 13. The research question asked finds the influence of management by objective on organisational performance of United Bank for Africa Plc. Responses from the analyses were shown in Table 4.13. The results showed that 38.2% of the respondents strongly agreed that this organization has experience performance stability over the years, 47.2% agreed, 6.3% neither agreed nor disagreed, 2.1% disagreed while 6.3% strongly disagreed.  Table 4.14: The market share of this organization has grown considerably Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 6 2.1 2.1 2.1 Disagree 20 6.9 6.9 9.0 Neither Agree nor Disagree 19 6.6 6.6 15.6 Agree 100 34.7 34.7 50.3 Strongly Agree 143 49.7 49.7 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Research question two was answered with questionnaire items 14. The research question asked finds the influence of management by objective on organisational performance of United Bank for Africa Plc. Responses from the analyses were shown in Table 414. The results showed that49.7% of the respondents strongly agreed that the market share of this organization has grown considerably, 34.73% agreed, 6.6% neither agreed nor disagreed, 6.9% disagreed while 2.1% strongly disagreed. Table 4.15: Customer base of this organization has grown over the years Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 6 2.1 2.1 2.1 Disagree 15 5.2 5.2 7.3 Neither Agree nor Disagree 27 9.4 9.4 16.7 Agree 119 41.3 41.3 58.0 Strongly Agree 121 42.0 42.0 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Research question two was answered with questionnaire items 15. The research question asked finds the influence of management by objective on organisational performance of United Bank for Africa Plc. Responses from the analyses were shown in Table 415. The results showed that 42% of the respondents strongly agreed that customer base of this organization has grown over the years, 41.3% agreed, 9.4% neither agreed nor disagreed, 5.2% disagreed while 2.1% strongly disagreed. Table 4.16: Service delivery performance of this organization is impressive Variables Frequency Percent Valid Percent Cumulative Percent Strongly Disagree 26 9.0 9.0 9.0 Disagree 51 17.7 17.7 26.7 Neither Agree nor Disagree 26 9.0 9.0 35.8 Agree 95 33.0 33.0 68.8 Strongly Agree 90 31.3 31.3 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Research question two was answered with questionnaire items 16. The research question asked finds the influence of management by objective on organisational performance of United Bank for Africa Plc. Responses from the analyses were shown in Table 416. The results showed that 31.3% of the respondents strongly agreed that service delivery performance of this organization is impressive, 33% agreed, 9% neither agreed nor disagreed, 17.7% disagreed while 9% strongly disagreed. Table 4.17: This organization is position to be a market leader in its industry Variables Frequency Percent Valid Percent Cumulative Percent Neither Agree nor Disagree 15 5.2 5.2 5.2 Agree 99 34.4 34.4 39.6 Strongly Agree 174 60.4 60.4 100.0 Total 288 100.0 100.0 Source: Field survey, June, 2018. Research question two was answered with questionnaire items 13. The research question asked finds the influence of management by objective on organisational performance of United Bank for Africa Plc. Responses from the analyses were shown in Table 417. The results showed that 60.4% of the respondents strongly agreed their organization is position to be a market leader in its industry, 34.4% agreed while 5.2% were neither agreed nor disagreed. 4.4 Test Hypotheses Hypothesis One: There is no significant relationship between management by objective and organisational performance of United Bank for Africa Plc. Table 4.18: Correlations Result on management by objective and organisational performance Management By Objective Organisational Perofrmance Management By Objective Pearson Correlation 1 .263** Sig. (2-tailed) .000 N 288 288 Organisational Perofrmance Pearson Correlation .263** 1 Sig. (2-tailed) .000 N 288 288 **. Correlation is significant at the 0.01 level (2-tailed). The above Kendall rank correlation analysis between management by objective and organisational performance shows that the p-value of 0.000 (p<0.05) which implies that; there is significant relationship between management by objective and organisational performance. Therefore, null hypothesis hereby rejected and alternate accepted. The study therefore states that there is significant relationship between management by objective and organisational performance of United Bank for Africa Plc  Hypothesis Two: Management by objective will not significantly influence organisational performance of United Bank for Africa Plc. For this research, regression is performed to investigate management by objective and its influence on organizational performance. Table 4.19a: Model Summaryb to investigate the management by objective influence of organisational performance Model R R Square Adjusted R Square Std. Error of the Estimate Durbin-Watson 1 .156a .064 .055 1.01472 1.049 a. Predictors: (Constant), Management by Objective b. Dependent Variable: Organization performance. The above table indicates the fitness of the model. According to Zygmont& Smith, (2014) the standard adjusted R-square should be more than or equal to 60% (Zygmont& Smith, 2014). Hence, this model is considered to be a good fit as the adjusted R-square is 0.64 (64%) fit. Therefore, it means that the variables of management by objective represent 64.0% variance in organizational performance of employees. The model indicates that the Durbin Watson is 1.049 which indicates there is no auto-correlation. Thus, multi Co-linearity among the variables doesn’t exist. Table 4.19b: Coefficientsa management by objective influence of organisational performance Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 4.803 .443 10.843 .000 Organization performance. .356 .298 .256 1.591 .003 a. Dependent Variable: Organization performance. Referring to the above table, a positive and significant influence between management by objective and organisational performance. As Beta coefficient is 0.256 with a p value of 0.003 which (< .05) which indicate to a moderate and significant influence of management by objective on organisational performance. Therefore, if management by objective increases, organisational performance will increase. It is therefore rejected the null hypothesis which stated that Management by objective will not significantly influence organisational performance of United Bank for Africa Plc and accept alternative hypothesis which stated that management by objective will significantly influence organisational performance of United Bank for Africa Plc.  CHAPTER FIVE SUMMARY OF THE STUDY, CONCLUSION, RECOMMENDATIONS 5.1 Introduction This chapter deals with summary, conclusions and recommendations. 5.2 Summary of the Study This study investigates the effect of Management by Objectives on Organization Performance with references to United Bank for Africa Plc. The study examines the relationship between management by objective and organisational performance of United Bank for Africa Plc and study the influence of management by objective on organisational performance of United Bank for Africa Plc. This study revealed that employees across all cadres in the organization are encouraged to partake in decision making process. The results showed that objective setting is consider a critical issues that all employees should be involve in. The findings revealed that the sales revenue of this organization has improved significantly. 5.3 Conclusion Corporate objectives are achieved by focusing manager and employee efforts on specific activities that will lead to their attainment. Performance can be improved at all company levels because employees are committed to attaining objectives. Employees are motivated because they know what is expected and are free to be resourceful in accomplishing their objectives. Departmental and individual objectives are aligned with company objectives. The relationships between managers and subordinates are improved by having explicit discussions about objectives, defining activities that will help achieve them and assigning responsibility. The involvement of employees in setting objectives gives them psychological satisfaction and ultimately gingers them to be more committed to achieving the objectives which they take part in setting than the ones imposed on them (increased motivation). It helps in the identification of training needs. The periodic review of performance may highlight inadequacies or lag in subordinate's performance. So that appropriate training programs is designed to help him acquire the relevant skills for thorough job performance. 5.4 Recommendations Management by objectives in its ideal form operates in such a way that for the corporate goals to be realized, manager should consult his subordinates in drawing up unit objectives, which goes up the hierarchy from where it is modified, collected, approved and distributed throughout the organization. For the organization to experience performance stability, there should be regular training and re-retraining of employees in order to achieve the corporate objectives. Managers should endeavour to build a true team and individuals efforts together. Their efforts must all pull in the same direction and their contribution must fit together to produce a whole without friction and without duplication of effort. Managers and employees should periodically meet in order to review progress towards the realization of objectives. 5.5 Suggestion for Further Studies Several areas in which MBO needed to play a role but were not yet working to fulfill the need and in which MBO was already playing significant role but there was still gap in which organization should consider. Scope of this study covers only employees in future this study can be conducted on customer. The comparative research can be conducted between private and public sector. The study conducted only on banking industry in future researcher conduct study on other industries. In future the study can be conducted on manufacturing firms with more variables. Due to time shortage there are few variables next research can be on management by objectives and its impact on change management, financial performance of company..  References ACAPS (2012) Qualitative and Quantitative Research Techniques for Humanitarian Needs Assessment. Adeniji, A. A. (2011). organizational climate and job satisfaction among academic staff in some selected private universities in southwest nigeria. phD Thesis: Pretoria, University of Pretoria. Akuezuilo EO, Agu N (2003). Research and statistics in education and social sciences: methods and applications. Awka: Nuel Centi Publishers. Asika, N. (2000). Research Methodology in the Behavioural Science. Ikeja: Longman. Barbie, E. (2011). Survey Research Methods, California: Wadeswirth Publishing Company, 2nd, Edition. Braunstein, D. N., Klein, G. A., & Pachula, M. (2016).Feedback expectancy and shifts in student ratings of college faculty. Journal of Applied Psychology, 1973, 58, 254-258. Brink, H. I. (2006). Foundations of Research Methodology. Kenwyn: Juta. Cook, D. M. (2016). The impact on managers of frequency of feedback. Academy of Management Journal, 1968, 11, 263-277. Dudwick, N., Kuehnast, K., Jones, V. N., & Woolcock, M. 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(2007) Blending Qualitative and Quantitative Methods for Program Evaluation: The Application and Insights of the Exit Interview, 4th Annual Meeting of the American Political Science Association Teaching and Learning Conference, Charlotte.  Department of Finance, Faculty of Business Administration, University of Lagos, Akoka, Yaba, Lagos State. 21st, January , 2017. Dear Respondent(s), REQUEST FOR INFORMATION I am an undergraduate student of the above named university. As part of the requirements for the award of undergraduate degree, I am conducting a study on the topic Effect of Management by Objectives on Organization Performance A study of United Bank for Africa Plc. Kindly complete the questionnaire attached. All information provided by you will be treated with utmost confidentiality and all response will be used for the purpose of academic research only. Thank you. Yours faithfully, SAMI, Abiodun Adeyinka 08053526110 samiabiodun@gmail.com  SECTION A DEMOGRAPHIC INFORMATION Instruction: Please tick (X) as appropriate Gender: Male [ ] Female [ ] Current Marital Status: Single [ ] Married [ ] Age: 18 - 30 years [ ] 31 - 45 years [ ] 46 years and above [ Academic Qualification OND [ ] NCE [ ] HND [ ] B.Sc [ ] M.Sc [ ] Ph.D [ ] Others………………………………………………. Employee Cadre: Junior Level [ ] Middle level [ ] Management Level [ ]  SECTION B Instruction: Please tick (X) as appropriate In this section there is no right or wrong answer, you are requested to put your opinion on a “5 Point Scale.” Where, 5= Strongly Agree, 4= Agree, 3= Neither Agree nor Disagree, 2= Disagree, 1= Strongly Disagree. PART A: MANAGEMENT BY OBJECTIVE STATEMENTS 5 4 3 2 1 6. Employees across all cadres are encouraged to partake in decision making process. 5 4 3 2 1 7. Employees of this organization make input to objectives setting in this organization. 5 4 3 2 1 8 Top management collaborates with employees across all levels to solicit their opinions on policy issues. 5 4 3 2 1 9. There is high level of collaboration on policy implementation procedures in this organization. 5 4 3 2 1 10. Objective setting is consider a critical issues that all employees should be involve in. 5 4 3 2 1 11. Communication framework is very robust to ensure easy implementation of policy in this organization. 5 4 3 2 1 PART B ORGANISATIONAL PERFORMANCE STATEMENTS 5 4 3 2 1 12. The sales revenue of this organization has improved significantly. 5 4 3 2 1 13. This organization has experience performance stability over the years. 5 4 3 2 1 14. The market share of this organization has grown considerably. 5 4 3 2 1 15. Customer base of this organization has grown over the years. 5 4 3 2 1 16. Service delivery performance of this organization is impressive. 5 4 3 2 1 17. This organization is position to be a market leader in its industry. 5 4 3 2 1 52