This paper summarizes the arguments and counterarguments within the scientific discussion on the issue of knowledge management and their impact on the financial performance of economic entities. It is determined that despite the key role of knowledge both for the development of the country (which in the 21st century is based mainly on knowledge) and to increase the value of the company, today companies do not fully use arrays of knowledge and data, which forms barriers to increase competitiveness in the strategic perspective. The main purpose of this study is to assess the impact of knowledge management on the financial performance of companies. Data for the study were obtained from a primary source based on a structured questionnaire with which Dangote Flourmills staff worked. The methodology of the work is a software product for statistical data processing – STATA 11, while the data analysis was performed on the basis of regression analysis, which was used to test hypotheses at the level of 5% significance. The analysis of the data confirmed the significance of the impact of all indicators of knowledge management on the financial performance of the economic entity. The results theoretically confirmed and empirically proved that strategic leadership, organizational culture, information, and communication technologies, effective human resource management practices have a significant impact on financial performance. This study concludes that knowledge management has a significant impact on the financial performance of businesses. The paper states that knowledge management activities help to focus the company’s management on the accumulation, storage, and use of knowledge to solve problems, dynamic learning, strategic planning, and making sound financial and economic decisions. The authors have formed the following recommendations: assistance from the management of the company to exchange knowledge, training and professional development; introduction of the latest digital technologies to improve communication and management mechanisms, based on the specifics, features, and needs of companies; ensuring and developing a corporate culture that allows you to balance and coordinate the actions of management policy. Keywords: knowledge management, human resources, strategic leadership, organizational culture, financial results of the company.
In modern conditions, the competitiveness of enterprises largely depends on the ability of management to ensure the necessary economic efficiency of operational activities, achieving strategic and tactical goals, rational use of labor, financial and material resources, which determines the relevance of research on innovative approaches to management “my goals”. The article substantiates that this concept is focused on increasing productivity through clear guidelines for each employee of the organization and increase staff motivation through its participation in setting their own goals. The main purpose of the study is to examine the relationship between the practical use of the method of “goal management” in the company and its organizational effectiveness. The object of the study was selected pharmaceutical company “Tuyil” (Ilorin, Nigeria) and its staff with a representative sample of 242 people. The source of the primary information in this study was the results of a survey of company employees. The analysis of the survey results was performed using the methods of descriptive statistics and analysis of variance (ANOVA). It is empirically confirmed and theoretically proved that the practical application of the principles of “goal management” is closely correlated with the efficiency of the company. The results of the study provide recommendations for improving the system of “goal management” in the company, namely: the creation of favorable internal relations among employees, which would guarantee their commitment and loyalty to the organizational goals and objectives of the company; Establishing feedback, which involves constant monitoring of the achievement of goals and determining their progress in the implementation of specific tasks, as well as bringing to the management of those unplanned problems that arise in the process of achieving goals. Keywords: goal commitment, performance feedback, task complexity, organization, Nigeria.
The ultimate goal of any business organization is to be prosperous in today’s increasingly competitive and dynamic markets where the cost of acquiring new customers has been found to be exponentially greater than that of maintaining existing ones, firms must continually explore ways of achieving higher customer retention rates. The building of a reputable brand image in the mind of the consumers is especially enhanced through the use of endorsers or spokespersons in the firm’s marketing communications; and celebrities are among the persons commonly used as endorsers or spokespersons in this regard. The main objective of this study was to examine the impact of celebrity endorsement on consumer purchase intention of consumer goods. Primary data through a structured questionnaire was used to elicit information from University undergraduate students. Hypothesis were tested using Pearson Product Moment Correlation Co-efficient (PPMCC) and Multiple Regression Analysis. Based on the findings of the study, it can be concluded that there are factors that significantly influences consumer purchase intention of celebrity endorsed products. Also, there is significant relationship between celebrity endorsement and consumer purchase intention. Similarly, celebrity endorsements significantly impact consumer purchase intention. It was therefore recommended that the strategy and creative execution of all celebrity endorsement deals should be one that will reinforce strongly and consistently the celebrity brand association to ensure that celebrities do not only evoke positive retains, but helps focus attention on the brand in the advertising. Keywords: celebrity endorsement, strategy, brand equity, consumer goods, purchase intention.
The wellbeing of citizens, in any human society, is expected to be the major concern of the leaders, in whose possession the societal resources lies. The trust given the social administrators is prudent management of the finances especially in ensuring the attainment of the capital and recurrent expenses of the citizens. In Nigeria's situation, the reverse is the case where administrators loot and embezzle the fund meant for social upkeep. This in essence create loggerheads between the leaders and the labour leaders who feel that periodic increment in labour emolument should be a normal thing free from rancor or work to rule. This paper contest the administrative style implored by the average Nigerian leaders towards their workers welfare especially as it concerns the determination of an ideal minimum wage for the average worker. It however conclude that if looting must be a thing of the past, the leaders must put in place stringent laws that will deal severely with any leader that misappropriate any fund meant for social upkeep.
The human resources are the most important resources an organization can boast of in the 21st century, since it ensures the efficient and effective utilization of other types of resources, hence their continuous development. One of the ways of developing human resources is through entrepreneurial mentoring. Mentoring is among the few tools needed for preparing tomorrows’ skilled employees and is also used to strengthen organizational capabilities, intelligence, build organization knowledge, and sustain the organization competitive advantage. The dynamic career environment heightens the need for entrepreneurs engaging other people in their career and personal development. This study examined the effect of entrepreneurial mentoring on performance of SMEs in Kwara State. Data for the study were obtained from primary sources with the aid of a structured questionnaire. The research design adopted was a descriptive survey design which was also cross sectional in nature. Data collected were analyzed and hypotheses were tested using Analysis of Variance (ANOVA) at 5% level of significance. Findings revealed that psychosocial mentoring support, career mentoring support and role modelling mentoring support all had significant relationship with SMEs performance as all their respective p values were less than 0.05 alpha values. Effective and efficient mentorship programs tend to raise entrepreneurial outcomes among upcoming entrepreneurs operating SMEs. Based on the findings of this study, the study concludes that there is significant relationship between psychosocial mentoring support and SMEs performance; there is also significant relationship between career mentoring support and SMEs performance, there is significant relationship between role modeling mentoring support and SMEs performance. The study recommends that SMEs owners must be steadfast in fostering an entrepreneurial mentoring culture within the organisation. Also, SMEs owners must be steadfast in continuously providing sponsorship, coaching, exposure, visibility, protection and providing challenging assignments to employees. Also, succession planning must be continually improved and sustained. Keywords: Entrepreneurial Mentoring, Culture, Leadership, Performance, SMEs, Nigeria
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