RISK MANAGEMENT AS AN EFFICIENT MEANS OF ACHIEVING CORPORATE OBJECTIVES
ABSTRACT
This research work titled “Risk management as an efficient means of achieving corporate objectives” Some of the problems that led to this research work includes poor risk management in the country and non performing of duty by insurance practitioners. This research work examined the various problems facing the insurance practitioners which has been preventing them from playing their roles in risk management in Nigeria. Investigated into the reason for poor risk management which has ruined Nigerians insurance industries in the past. Examined why there has been daring escapades on the part of risk managers in performing their duties in the past. Data for the study was sourced from two main sources which include Primary and Secondary sources of data collection. Primary data: Questionnaires and oral interviews were used to collect information from the respondents. Secondary data : Journals, magazine and other relevant materials relating to the area of my investigation was reviewed. Extensive literature review was carried out on direct literature and indirect literature on books, journals and past works. The research instrument used in this study includes oral interview and questionnaire. The questionnaire is structural as to contain both close and open ended question. Simple tables, pie-charts and percentages was used in treatment of data while chi-square was used in the research work. This study shows that there are mere courageous and daring escapades on the past of risk managers in performing their duties. The researcher recommends that risk management department should be established to be managed by a competent professionally qualified risk manager.
TABLE OF CONTENT
Title page
i Certification ii
Dedication iii
Acknowledgement iv
Table of content v
CHAPTER ONE
1.0 Introduction 1
1.1 Background of study 1
1.2 Statement of the problem 5
1.3 Objective of study 6
1.4 Significance of the study 7
1.5 Definition of terms 11
1.6 Limitation of the study 12
CHAPTER TWO
2.0 Literature Review 14
2.1 Source of literature 14
2.2 The review 14
2.3 Selected and related concepts that enhance
the understanding of risk management in Nigeria,
Challenges of the Nigerian insurance practitioners 15
CHAPTER THREE
3.0 Methodology 26
3.1 Research method 26
3.2 Research design 27
3.3 Research population 29
3.4 Research sample/sampling technique
3.5 Measurement instrument 30
3.6 Data collection 31
3.7 Data analysis 32
3.8 Expected results 32
CHAPTER FOUR
4.0 Data presentation and analysis 33
4.1 Data presentation and analysis 32
4.2 Discussion 45
CHAPTER FIVE
SUMMARY AND RECOMMENDATION
5.1 Summary 50
5.2 Conclusion 51
5.3 Recommendations 52
Bibliography 55
Appendix A 56
Appendix B 57
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Risk is an ingredient of all human life. How best to live with, is a problem for every individual and indeed every corporate body for a long time around, men has so urgent ways of controlling the risk elements to which individual, as private or public or as commercial and business ventures as exposed. Until about 25 years ago, the idea of risk management was thought of a subject and as a result of distaste.
