1.1. Background of the study
The modern business manager operates in a more dynamic environment. The change in the business environment has been rapid and unpredictable. Economic variables have been complex both in form and impact on the practice of business in Nigeria, this is because consumers and clients have been shown complex behaviours both in local and international markets. The most dramatic change has been that exhibited by competitive pressures. Competitors have been applying one strategy or the other to adapt to the dynamic and unpredictable nature of the business environment. The most single significant influence on organisational policy and strategy is the issue of resource management and control in business organizations (Duncan, 1972 and Grant, 1999). The increasing demand for these resources and the shortage in supply makes it a necessity for many consumers as well as business managers in Nigeria. Africa has been blessed with numerous resources all of which contribute to its growth and development. With this vast amount of resources and wealth amassed from their trade, resources management is very important.
Resources according to Oronto (2003) are not limited to mineral resources like oil and gas, but for the indigenes of the region this mean land for agriculture, waters for fishing, forest for harvesting, and air for breathing, as well as other physical and spiritual biota. Resources when properly managed bring business growth as well as economy development, reduce poverty and improve the economy of the country in general. The concept of resources management is closely tied to that of resources control and proper resources management also involves accountability on how these resources and wealth are used. It was observed that resources have been a blessing for some and a curse for others especially the areas where these resources came from and that the people in these region live below poverty line, experience poor economic and business growth and a low standard of living when compared to other parts of the country that enjoy the bulk of this wealth, this might be as a result of poor resources management.
1.2. Statement of the general problem
The poor performance of businesses across the sub Saharan region of Africa and most especially Nigeria has been a cause for major concern. This poor performance of business most times have regrettably been connected to poor resource control and management which has led to the poor economic development of Nigeria.
1.3. Objectives of the study
The major aim and objectives of the study will be to evaluate resource management and control in business organizations in Port Harcourt. Other specific objectives of this study would be
1. To examine the prudency of business managers as regards the management/control of scarce resources.
2. To examine the level of business development and success of businesses in Port Harcourt.
1.4. Research Questions
1. How are resources managed in business organizations in Port Harcourt?
2. What is the level of prudency of business managers and owners in Port Harcourt?
3. What is the level of business development in Port Harcourt?
1.5. Research Hypothesis
H0: Resources are not effectively managed by business managers in Port Harcourt
H1: Resources are effectively managed by business managers in Port Harcourt
1.6. Significance of the study
This study would greatly benefit business managers, captains of industries, managing directors of large business in terms of business management and deployment of scarce resources in businesses. This study would also be of immense benefit to researchers and students who are interested in business administration and management.
1.7. Scope of the study
This study is on resource management and control in business organizations in Port Harcourt, Rivers state.