MARKET ORIENTATION AND COMPANY PERFORMANCE

MARKET ORIENTATION AND COMPANY PERFORMANCE

(A Case Study of Frigoglass Company Nigeria Ltd.)

ABSTRACT

This study investigates market orientation and company performance in an organization. The study analysie the market orientation on company performance in an organization through the provision of effective marketing strategies in satisfying customer’s need. The specific objective was to examine market orientation and company performance in Frigoglass Nigeria Limited.

The literatures reveal that most market oriented firms are the most productive and profitable, hence, this study predicated upon Drucker’s company philosophy theory and Trout and Ries Strategic – Behavioual Theory.

However, Survey research was adopted for the study. The respondents were One Hundred and Fifty (150) workers drawn from Frigoglass Nigeria Limited. The strategic random sampling technique was used in selection of the respondents. Questionnaire method was used to collect relevant data for the study. The data collected through the questionnaire were analysed using simple percentage and frequency distribution.

The analysis shows that the relationship between market orientation and company performance does really exist, and it is indeed a significant contributor to the company’s performance. The findings of the study can help international organizations and scholars in assisting individual organizations to more effectively navigate the adoption and implementation of market orientation strategies in an emergent economy undergoing market restructuring.

TABLE OF CONTENTS

Title Page    -        -        -        -        -        -        -        --       i

Certificate   -        -        -        -        -        -        -        -        ii

Dedication  -        -        -        -        -        -        -        -        iii

Acknowledgement          -        -        -        -        -        -        iv

Abstract      -        -        -        -        -        -        -        -        v

Table of Content   -        -        -        -        -        -        -        vii

CHAPTER ONE

INTRODUCTION

1.1     Background of the Study         -        -        -        -        1

1.2     Statement of Problem     -        -        -        -        -        2

1.3     Aim and Objectives of Study    -        -        -        -        3

1.4     Research Question         -        -        -        -        -        3

1.5     Statement of Hypothesis          -        -        -        -        -        4

1.6     Research Methodology   -        -        -        -        -        5

1.7     Significance of Study               -        -        -        -        6

1.8     Scope and Limitation of Study          -        -        -        6

1.9     Definition of Terms        -        -        -        -        -        7

CHAPTER TWO

LITERATURE REVIEW

2.0     Introduction         -        -        -        -        -        -        9

2.1     Definition of Internal Control  -        -        -        -        11

2.2     Purposes of Internal Control System -        -        -        13

2.3     Types of Internal Control         -        -        -        -        13

2.3.1  Directive or Entity Level Controls      -        -        -        14

2.3.2  Preventive Internal Control -    -        -        -        -        14

2.3.3  Detective / Corrective     -        -        -        -        -        14

2.3.4  Compensating Control - -        -        -        -        -        14

2.4     Components of the Internal Control System         -        15

2.4.1  Definition of Responsibilities   -        -        -        -        15

2.4.2  The In-House Dissemination of Relevant and

          Reliable Information       -        -        -        -        -        17

2.4.3  A System for identifying and Analysing Risk        -        17

2.4.4  Control Activities -         -        -        -        -                  18

2.4.5  On-Going Monitoring of the Internal Control

System        -        -        -        -        -        -        -        19

2.5     internal Control Players -        -        -        -        -        19

2.5.1  The Board of Directors or the Supervisory Board

          (“The Board”)        -        -        -        -        -        -        20

2.5.2  Executive Management / The management Board         20

2.5.3  Internal Audit       -        -        -        -        -        -        -        20

2.5.4  Company Staff      -        -        -        -        -        -        -        21

2.6     Conceptual Framework  -        -        -        -        -        21

2.6.1  Control Environment     -        -        -        -        -        26

2.6.2  Risk Assessment   -        -        -        -        -        -        29

2.6.3  Control Activities  -        -        -        -        -        -        31

2.6.4  Application Controls      -        -        -        -        -        32

2.6.5  Information and Communication      -        -        -        34

2.6.6  Monitoring  -        -        -        -        -        -        -        35

2.7     Effective Internal Control         -        -        -        -        37

          References - -        -        -        -        -        -        -        38

CHAPTER THREE

RESEARCH METHODOLOGY

3.1     Introduction         -        -        -        -        -        -        40

3.2     Sources of Data    -        -        -        -        -        -        40

3.3     Population and Sample Size    -        -        -        -        41

3.4     Research Instrument Design   -        -        -        -        41

3.5     Administration of Research Instrument      -        -        42

3.6     Analysis of Data   -        -        -        -        -        -        42

3.7     Methodology         -        -        -        -        -        -        43

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

4.1     Introduction         -        -        -        -        -        -        44

4.2     Personal Characteristics of the Respondent -       -        44

4.3     Response of Respondents of the Problem Areas    -        47

4.4     Testing and Interpretation of the Hypothesis        -        54

4.4.1  Test of Hypothesis One  -        -        -        -        -        54

4.4.2  Test of Hypothesis Two  -        -        -        -        -        57

4.4.3  test of Hypothesis Three          -     &nb