Sunday 5 April 2015
THEORY OF FINANCIAL INTERMEDIATION | THEORY OF ECONOMIC GROWTH
THEORY OF FINANCIAL INTERMEDIATION
Credit is an important aspect of financial intermediation that provides funds to those economic entities that can put them to the most productive use. Theoretical studies have established the relationship that exists between financial intermediation and economic growth. For instance, Schumpeter (1934), Goldsmith (1969), McKinnon (1973) and Shaw (1973) in their studies, strongly emphasized the role of financial intermediation in economic growth. In the same vein, Greenwood and Jovanovich (1990) observed that financial development can lead to rapid growth. In a related study, Bencivenga andSaturday 4 April 2015
EVALUATION OF TEAM WORK IN THE HOTEL INDUSTRY DATA PRESENTATION AND ANALYSIS
CHAPTER FOUR DATA PRESENTATION AND ANALYSIS
4.1
INTRODUCTION
This
chapter provides a statistical analysis and presentation of data collected for
the purpose of deducting the reactions of respondents to question raised.
Attempt was made to classify and analyse response obtained through the
questionnaire according to the respondents demographic data and further
analysis to answer research questions that was raised in the previous chapter.
In
this study, a total of 60 questionnaires were distributed. This represents 100%
responses to the questionnaires.
4.2 ANALYSIS OF RESPONDENTS
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
20-25years
|
32
|
53.3
|
26-49years
|
18
|
30
|
50-59years
|
10
|
16.7
|
60years
and above
|
-
|
-
|
Total
|
60
|
100
|
Table
1 represents the classification and analysis of respondents by age. It shows
that 53.3% of the respondents were between the age bracket 20-25years, 30% were
between 26-49years of age, 16.7% were between 50-59years. While none of the
respondents falls within the age group of 60years and above. This implies that
majority of the respondents are mature, thus, achieving the objective of study
appears realistic.
TABLE 2: Sex Distribution
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Male
|
28
|
46.7
|
Female
|
32
|
53.3
|
Total
|
60
|
100
|
Table
2 indicates that 46.7% of the respondents are males and 53.3% were females.
This is a typical example of gender distribution in the society where female
seems to dominate in the hospitality industry.
TABLE 3: Marital Status
Distribution
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Single
|
36
|
60
|
Married
|
24
|
40
|
Total
|
60
|
100
|
Table
3 indicates that 60% of the respondents were singles while 40% were married.
This implies that respondents were responsible and their contribution to this
study would be highly significant.
TABLE 4: Nationality Distribution
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Nigerian
|
60
|
100
|
Non-Nigerian
|
-
|
-
|
Total
|
60
|
100
|
Table
4 indicates that all the respondents representing 100% were Nigerians. This
means that most enterprise in the hospitality industry are owned by Nigerians.
TABLE 5: Education Level
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
SSCE
|
4
|
6.7
|
ND/NCE
|
18
|
30
|
HND/B.Sc
|
20
|
33.5
|
Ph.D/M.Sc
|
12
|
20
|
Others
|
6
|
10
|
Total
|
60
|
100
|
Table
5 shows that 6.7% of respondents are SSCE holders, 30% are ND/NCE qualified,
another 33.5% are HND/B.Sc qualified while 20% are Ph.D/M.Sc holders. The
remaining 10% represents other forms of qualification. Majority of the
respondents are HND/B.Sc, thus their views will be of significant input in this
study.
4.3
DATA
PRESENTATION AND ANALYSIS ACCORDING TO THE RESEARCH QUESTIONS
These
are views and opinions of the respondents as they relate to the issue of
teamwork in the hospitality industry in Nigeria. The purpose is to collate and
interpret divergent opinions of the respondents using statements.
TABLE 6: Teamwork
is encouraged and practiced in this organization
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
32
|
53.3
|
Agreed
|
28
|
46.7
|
Undecided
|
-
|
-
|
Strongly
Disagreed
|
-
|
-
|
Disagree
|
-
|
-
|
Total
|
60
|
100
|
Table
6 indicates that 53.3% of the respondents strongly agreed and another 46.7%
agreed to the statement above, while neither of the respondents disagreed nor
were undecided about the question. As 100% of agreed to the statement, this
implies that teamwork exist in the hospitality industry.
TABLE 7: Employees put the interests and priorities of the
organization or unit ahead of the interests and priorities of their
respective jobs or functions.
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
20
|
33.3
|
Agreed
|
24
|
40
|
Undecided
|
-
|
-
|
Strongly
Disagreed
|
6
|
10
|
Disagree
|
10
|
16.7
|
Total
|
60
|
100
|
Table
7 indicates that 73.3% of the respondents agreed to the statement above, while
26.7% disagree with it. The majority view reveals that employees put the
interest of organization first and thus make the organization thrive.
TABLE 8: Employees obtain and use all the needed information
and assistance from others when solving problems or making decisions.
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
24
|
40
|
Agreed
|
28
|
46.7
|
Undecided
|
6
|
10
|
Strongly
Disagreed
|
-
|
-
|
Disagree
|
2
|
3.3
|
Total
|
60
|
100
|
Table
8 indicates that 86.7% of the respondents agreed to the statement above while
33% disagreed with it and another 10% were undecided about the question. The
majority view shows that employees depends on each others.
TABLE 9: The employees are organized and structured suitably
for the tasks they have to perform.
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
10
|
16.7
|
Agreed
|
38
|
63.3
|
Undecided
|
6
|
10
|
Strongly
Disagreed
|
2
|
3.3
|
Disagree
|
4
|
6.7
|
Total
|
60
|
100
|
Table
9 indicates that 80% of the respondents agreed to the statement, while 10% of
the respondents disagreed with it and another 10% of the respondents were
undecided about the question. The majority view shows that employees are
organized and structured suitably for the tasks they had to perform.
TABLE 10: Conflict between or among employees are handled
promptly and effectively.
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
20
|
33.3
|
Agreed
|
16
|
26.7
|
Undecided
|
12
|
20
|
Strongly
Disagreed
|
8
|
13.3
|
Disagree
|
4
|
6.7
|
Total
|
60
|
100
|
Table
10 indicates that 60% of the respondents agreed to the statement, while 20%
disagreed with it and another 20% of the respondents were undecided about the
question. The majority view reveal that conflict between or among employees are
handled promptly and effectively.
TABLE 11: The workers make good use of the time they spend
together.
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
2
|
3.3
|
Agreed
|
22
|
36.7
|
Undecided
|
16
|
26.7
|
Strongly
Disagreed
|
6
|
10
|
Disagree
|
14
|
23.3
|
Total
|
60
|
100
|
Table
11 indicates that 40% of the respondents agreed to the statement, while 33.3%
of the respondents disagreed with it and another 26.7% of the respondents were
undecided about the question. The majority view shows workers make good use of
the time they spend together.
TABLE 12: Decision making processes and methods are
appropriate and effective.
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
26
|
43.3
|
Agreed
|
24
|
40
|
Undecided
|
9
|
10
|
Strongly
Disagreed
|
-
|
-
|
Disagree
|
4
|
6.7
|
Total
|
60
|
100
|
Table
8 indicates that 83.3% of the respondents agreed to the statement above while
6.7% disagreed with it and another 10% were undecided about the question. The
majority view shows that decision making process and methods are appropriate
and effective.
TABLE 13: Problem solving processes and methods are
appropriate and effective.
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
20
|
33.3
|
Agreed
|
24
|
40
|
Undecided
|
-
|
-
|
Strongly
Disagreed
|
6
|
10
|
Disagree
|
10
|
16.7
|
Total
|
60
|
100
|
Table
7 indicates that 73.3% of the respondents agreed to the statement above, while
26.7% disagree with it. The majority view reveals that problem solving
processes and methods are appropriate and effective.
TABLE 14: Employees express their opinions honestly and openly
to management.
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
2
|
3.3
|
Agreed
|
6
|
10
|
Undecided
|
26
|
43.3
|
Strongly
Disagreed
|
2
|
3.3
|
Disagree
|
24
|
40
|
Total
|
60
|
100
|
Table
14 indicates that 13.3% of the respondents to the statement, while 43.3%
disagreed with it and another 43.3% of the respondents were undecided about the
question. The majority view shows respondents were undecided about view.
TABLE 15: There
is a strong feeling of teamwork and cooperation in this organization.
VARIABLES
|
FREQUENCY
|
PERCENTAGE (%)
|
Strongly
Agreed
|
12
|
20
|
Agreed
|
18
|
30
|
Undecided
|
6
|
10
|
Strongly
Disagreed
|
10
|
16.7
|
Disagree
|
14
|
23.3
|
Total
|
60
|
100
|
Table
15 indicates that 50% of the respondents agreed to the statement above while
40% disagreed with it and another 10% of the respondents were undecided about
the question. The majority view shows that there is a strong feeling of
teamwork and cooperation in the organization.
4.4
TESTING
OF RESEARCH HYPOTHESIS
The
research hypothesis is tested using chi-square statistical test for decision on
the hypothesis. The chi-square test is represented with the following formulae:
X2cal = ∑(O – e)
e
Where
O – Observed frequency
e – Expected frequency
∑ - Summation
Degree
of freedom = (K-1) (5-1) (4)
Level
of significance = 5% = 0.05
Table
X2 (k-1) = (0.05, 4) = 9.488
DECISION RULE
If
x2 calculated exceeds x2 tabulated at 0.05 level of
significance and (4) degree of freedom, then the null hypothesis (H0)
should be accepted while the alternative hypothesis (H1) should be
rejected.
TESTING OF HYPOTHESIS 1
This
hypothesis is formulated to test if teamwork is effective in hospitality industry.
Stated below are the null hypothesis and alternative hypothesis (H1).
H0: Teamwork contributed immensely to the decision making processes and methods of the
hospitality industry.
H1: Teamwork contributed immensely to the decision making processes and methods of the
hospitality industry.
TABLE 20: Chi-Square Contingency Table with Reference to Table 12
VARIABLES
|
o
|
e
|
o-e
|
(o-e)2
|
o-e2/e
|
Strongly
Agreed
|
26
|
12
|
14
|
98
|
8.2
|
Agreed
|
24
|
12
|
12
|
72
|
6
|
Undecided
|
6
|
12
|
-6
|
18
|
1.5
|
Strongly
Disagreed
|
-
|
12
|
-12
|
72
|
6
|
Disagree
|
4
|
12
|
-4
|
32
|
2.7
|
Total
|
24.4
|
Where;
expected frequency (e) = 60 = 12
5
X2cal = 24.4
X2tab = (0.05, 4) = 9.488
DECISION RULE
Since
the X2cal (24.4) is greater than (>) the X2tabulated
(9.488), at 0.05 level of significance and 4 degree of freedom, the null
hypothesis (H0) is accepted and we conclude that teamwork contribute
immensely to the decision making processes and methods of the hospitality
industry.
TESTING OF HYPOTHESIS II
This
hypothesis is formulated to test if policies are in place to encourage the
establishment and development of small and medium scale enterprises in Nigeria.
Stated below are the null hypothesis (H0) and alternative (H1)
hypothesis.
H0: The employees are organized suitably for the tasks they have to perform.
H1: The
employees are not organized suitably for the tasks they have to perform.
TABLE 21: Chi-Square Contingency Table with Reference to Table 9
VARIABLES
|
o
|
e
|
o-e
|
(o-e)2
|
o-e2/e
|
Strongly
Agreed
|
10
|
12
|
-2
|
4
|
0.2
|
Agreed
|
38
|
12
|
26
|
676
|
28.2
|
Undecided
|
6
|
12
|
-6
|
36
|
1.5
|
Strongly
Disagreed
|
2
|
12
|
-10
|
100
|
4.2
|
Disagree
|
4
|
12
|
-8
|
64
|
2.7
|
Total
|
36.8
|
Where;
expected frequency (e) = 60 = 12
5
X2cal = 24.4
X2tab = (0.05, 4) = 9.488
DECISION RULE
Since
the X2calculated (36.8) is greater than the X2tabulated
(9.488), at 0.05 level of significance and 4 degree of freedom, the null
hypothesis (H0) is accepted and we conclude that the employees are
organized suitably for the tasks they perform.
CHAPTER FIVECONLUSION AND RECOMMENDATIONS
5.1 CONCLUSION
Teamwork
in the hospitality can help the organisation achieve its objectives as well as
bring fulfillment to individual team members. Considering the service nature of
the industry, organisational success can only be achieved with effective teams.
Teams should not be mistaken, there with groups of people working individually
with no collection team objective.
It
is imperative that teams are facilitated to develop from groups and management
concern for team building will boast team development through active member
participation. Management can help team members grow by understand the theory
of what motivates people to work. With proper motivation, people can sacrifice
the time and energy into the corporate objective.
Effective
leadership enhances team performance and improves communication among team
members. An effective team leader should develop the competence of team member
relevant to the best and not dwell on
the attributes of feeling and lifestyle of member.
Communication
is also important among departments and sectional teams so that their
collective efforts can be harnessed.
In
order to improve communication, it is important that the right medium is used
and when it is expressed orally, the
body language, pasture, facial
expression of and gestures all communication what is actually meant.
5.2 RECOMMENDATION
1. Team
building and development should be incorporated into the training programmes of
hospitality enterprises. Infact, there
should be a policy on team recognition and appraised and appraised at the end
of the financial year.
2. For
team effectiveness teams should be given
adequate material time and psychological
support by management to give members a feeling of worth and appreciation.
3. Effective
team leaders should be drawn from people who are able to listen and communicate
with team members.
4. There
should be an established line of communication that is devoid of the
formalities in reaching senior colleagues, senior colleagues should be easily
approachable by their subordinates.
5. Team
performance should be evaluated and appraised. There should be a flow for
receiving feedback and reviewing methods of achieving team responsibility.
REFERENCES
1. Boella
M. H. (1973): Personal Management in The Hotel and Catering Industry, London
Gower Publishing Company.
2. Cole
G. A. (2002), Personnel and Human resource Management (5th ed)
London, 3000k Power.
3. Katzenbach
J. R. and Smith D. K. (2004), Harvard Business Revises on Teams that succeeds,
Harvard Business Publishing Corporation.
4. Margerison
C. and Mccann D. (1990) Team Management Practical New Approaches, London
Mercury Books, Gold Arrow Publishing Limited.
5. Rickards
T. and Mogers. (1999) Handbook for Creative Team Leaders, London Gower
Publishing Limited, Groft Road.
6. Wheelan
S. A. (1999) Creating Effective Teams California, Sage Publication
Incorporated.
APPENDIXQUESTIONNAIRE ON
EVALUATION OF TEAMWORK IN THE
HOSPITALITY INDUSTRY
Please
tick (√) where appropriate from the option provided below.
1.
Age:
20
– 25years ( )
26
– 30years ( )
31
– 49years ( )
50years
and above ( )
2.
Sex:
Male ( )
Female ( )
3.
Marital Status:
Single ( )
Married
( )
4.
Nationality:
Nigerian ( )
Non-Nigerian ( )
5.
Educational Level
SSCE
( )
ND/NCE ( )
HND/B.Sc ( )
Ph.D/M.Sc ( )
Others
(Specify) ____________________________
SECTION B
Kindly
tick (√) where appropriate in the box
Scoring
key on a 5-point scale
Strongly
Agree (SA)
Agree (A)
Disagree (D)
Strongly
Agree (SD)
Indifferent (I)
S/N
|
RESEARCH QUESTION
|
SA
|
A
|
D
|
SD
|
I
|
6.
|
Teamwork
is encouraged and practiced in this organization
|
|||||
7.
|
Employees put the interests and priorities of the
organization or unit ahead of the interests and priorities of their
respective jobs or functions.
|
|||||
8.
|
Employees obtain and use all the needed
information and assistance from others when solving problems or making
decisions.
|
|||||
9.
|
The employees are organized and structured
suitably for the tasks they have to perform.
|
|||||
10.
|
Conflict between or among employees are handled
promptly and effectively.
|
|||||
11.
|
The workers make good use of the time they spend
together.
|
|||||
12.
|
Decision making processes and methods are
appropriate and effective.
|
|||||
13.
|
Problem solving processes and methods are
appropriate and effective.
|
|||||
14.
|
Employees express their opinions honestly and
openly to management.
|
|||||
15.
|
There
is a strong feeling of teamwork and cooperation in this organization.
|
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