GOODWILL MANAGEMENT IN NIGERIAN BUSINESS ORGANIZATION A CASE STUDY OF PHINOMAR FEEDS NIG. LTD NGWO
The researcher took a case of Phinomar Feeds Nig. Ltd. This helps the researcher understand the nature of their own process of building and manufacturing goodwill.
The book is divided into five main chapter the first chapter explains the meaning and scope of goodwill management, its problem and also the formulation of hypothesis.
The seemed chapter accounted for the literature review showing the meaning and history of goodwill management, its impact in Nigeria Economy and manufacturing Industry and Goodwill management in Phinomar feeds Nig. Ltd. Also its validity and reliability.
The study of Goodwill Management came to light the need for effective management for increased productivity causes. The study provides information to in businessmen who are interested in setting up manufacturing industries, but have little or no knowledge of the importance of the establishment of Goodwill Management which can be achieved through establish reputation customer acceptance introduction of a unique service, a state management.
The resources become interested in the study after considering the pitiful situation in our country today the problem of inflation, graduate unemployment, and retrenchment, out in salaries, economy recession to mention but a few.
Most of our fresh graduates who are victims of unemployment and retrenchment will have the opportunity of setting in manufacturing industries, which they could have done, if not far lack of adequate knowledge. The manufacturing industries and needs less capital than that of other undertakings, and so the necessary information required to enable that differentiate between the cost involved in setting up manufacturing industries and that of the understandings.
This will encourage them to become self employed by way of setting up manufacturing industries.
1.1 BACKGROUND OF THE STUDY
The concept of Goodwill should be critically studied and analyzed to present a proper appreciation of the study as used by most business managers who want to set up productive industries. For the purpose of this study it shall take on Goodwill in an existing productive industries (PHINOMAR FEEDS NIGERIA LTD).
Goodwill look to the future and prepare for it. One important way is to develop the firm to that they can cope with new demands, new problems and new challenges. Indeed, there must be a development programme for the Goodwill in order to challenge in barriers that might block the movements of the organization with their full potentialities.
Before, the view prevailed that through practical experience alone people would rise to managerial position. During the war need for development programme at this first line supervisory level becomes evident and concentrated effort were made to satisfy was conducted for this need but no systematic development programme in management theory. They simply were assigned to responsible with little or not formal development programme in management theory i.e the middle and upper level of production.
However, during the 1950’s firms become aware that Goodwill indeed required special knowledge and skills that can thoughts strongly enough although the need was recognized many years age the outlook for the future is not encouraging.
According to John Miner, the United State fall a shortage of Goodwill management talent that could threaten the growth and effectiveness of management enterprises. This has created a need for Goodwill development more urgent than that of the past.
It is a known fact that in the world today, modern information system is a necessity. It is only through development programme that Goodwill hope to bridge the gap existing in the modern business organization.