A Universal Model for Managing the Marketing Executives in Nigerian Banks

This study was an attempt to synthesize some theories because, seeing them in their individual forms, they could sometimes appear contradictory and confusing and may not help the managers of Nigerian banks to easily perceive what to do to motivate their marketing executives for appropriate organizational performance and job satisfaction in the industry. It is assumed that a universal theory of motivation would be more practical and understandable for meaningful use by bank managers. A sample of 303 was determined using the finite multiplier. The result obtained gives a chi-square value of 8.845 (based on Friedman Test), which is greater than the critical chi-square value of 5.991 (ie X2cal = 8.845 > X2 critical = 5.991) and is significant as P < 0.05. Hence, the null hypothesis is rejected, indicating that managers in Nigerian banks will motivate their marketing executives effectively, if they take cognizance of the individual characteristics in terms of his needs, provide targets that are believed to be attainable yet provide a challenge to the marketing executives. The emerged model of this study would seem to be suggesting that the managers in Nigerian banks will make motivation of marketing executives effective if they take cognizance of the individual’s characteristics in terms of his needs, create assignments that are challenging to the individual, according to their abilities; all to provide job satisfaction to them. To make marketing jobs more challenging in the banks,  managers should continually seek ways to generating motivation through job design (job environment) and make jobs to: (i) have a clear meaning and purpose in relation to the objectives of the bank, (ii) be as self-contained as possible, so that the marketing executive will be doing ‘complete’ jobs;  (iii) provide opportunities for purposeful two-way communication for possible participation in decisions which affect their works and targets; (iv) provide a regular feedback of information to the marketing executives about their performances. This shows that the confusion faced by managers in Nigerian banks on the question of motivation of marketing executives is the mix-up by the behavioral scientists of managerial organizing factors with those of motivation. It is this that seems to create the difficulty for Nigerian managers in clearly determining what to do in their motivation efforts. Perhaps, it is the  inexplicit of all these that seems to cause Nigerians to think that the theories developed in the Western World are not applicable to Nigeria. The effectiveness of a motivation system is the function of the management philosophy. This is the point Nigerian managers need to seriously recognize in looking for factors that condition the effectiveness of managerial motivation of marketing executives in Nigerian banks. It is important also to appreciate from this study that whether in advanced countries or in Nigerian banks, managerial action to motivate is a question of art of management applied contingently. Keywords:Universal Models, Marketing Executives, Nigerian Banks, Friedman Test, Marketing Goals, Two-Way Communication, Feedback of Information.

Informational Role for Managing an Increasing Diversity of a Salesforce

The Increasing diversity of the environment which, in turn, increases the diversity of a firm’s salesforce, increases the challenges sales managers face in effectively managing diversity. salesforce diversity is dissimilarities-differences–among salespeople due to age, gender, race, ethnicity, religion, sexual orientation, socioeconomic background, and capabilities/disabilities that have raised important ethical issues and social responsibility issues as well for Sales management. It has become a critical issue for salesforce Management, one that if not handled well can bring a salesforce morale and performance to its knees, especially in this increasingly global environment. These are some of the reasons why salesforce diversity in multinational firms is such a pressing concern and issue both in the popular press and for Sales managers and organizations. The Salespeople in the selected multinational firms in Nigeria formed the population of the study. A sample size of 350 salespeople and their managers was determined using a mean. The study was guided by the theory of limited differences, which suggests that slight differences in treatment can cumulate to result in major disparities overtime. For hypothesis testing, the Friedman’s chi-square test statistics was used to judge the significance of the 225.632 result obtained. This value is greater than the critical Chi-Square value of 5.991. The result shows significance as P-Value of 0.00 < 0.05. Hence the null hypothesis of the study is rejected, indicating that information about diversity policies and initiatives and the intolerance of discrimination have significant effect in the effective management of a salesforce. It is therefore suggested that Sales managers should constantly evaluate the extent to which diverse Salespeople are being treated fairly; inform salespeople about diversity policies and initiatives and the intolerance of discrimination; and support diversity initiatives in the wilder Community and speak to diverse groups to interest them in career opportunities in the organization. Key Words: Diversity of salesforce, Informational Role, Multinational Firms, Diversity Awareness, Theory of Limited Differences, Friedman’s Chi-Square Test Statistics

Recognition Need of Marketing Executives in Nigeria Banks: A Meta Analysis

The behavioral factors that relate to the individual’s needs and to the conditional links between performance and rewards and between effort and performance could be necessary topics for organizational effectiveness. However, motivational programs often fail because they could appeal to wrong needs. Therefore, this study was an attempt to identify the specific needs of the marketing executives in Nigerian banks in order to determine how to motivate them to satisfy those needs. The study was guided by the need theories which suggest that to motivate their workforces, managers should determine what needs people are trying to satisfy in organizations and then ensure that people receive outcomes that satisfy these needs when they perform at a high level and contribute to organizational effectiveness. A sample of 303 marketing executives in selected banks in Nigeria was determined using the finite multiplier. The result obtained shows an F-value of 62.713 (P<0.05) for the Levene’s Test of Equality of Error of variance, which indicates that the error of variance of the dependent variable is equal across groups, and presents a similarity in results. With P-values < 0.05, the results generated are not due to chance, thus are correct and significance. Having adjusted r-squared value that is 0.894, it is determined that 89.4% of change is caused by the independent variable. Based on this, the null hypothesis is rejected. Hence, information about what is happening around the work-place is one of the most important needs of marketing executives in Nigerian banks, as it does help in cultivating and maintaining mutually satisfactory relationship between the manager and the subordinates. The finding shows that the needs of marketing executives in Nigerian banks could be ordered as follows: recognition, physiological expressed in good wages, and security. Recognition in this study is identified with the need for information, because recognition could be expressed in giving the marketing executives information about his work. What is worthy of note about this finding is that information and recognition needs have the same significance in terms of need structure, and that recognition-the fourth need on Maslow’s need hierarchy could be scored basic to marketing executives in Nigerian banks. So, recognition may have a high place in the Nigerian cultural values for motivation at collective work systems. This indicates that the motivation theories by the behavioral scientists conform to the desires of marketing executives according to individual developmental levels, and according to the bank system. This suggests that Nigerian culture places emphasis on information and recognition, over which some of the advanced countries drag their feet. This is a fact that deserves serious attention in the search for a Nigerian motivation system. It is recommended that bank managers should identify the fundamental value that conditioned this approach to include the following values: (1) emphasis on a flow of information from the bottom up; (2) making top management the facilitator of decision-making rather than the issuer of edicts; (3) using middle managers as the impetus for, and shaper of solutions to the problems of marketing executives; (4) stressing consensus as the way of making decision; and (5) paying close attention to the personal well-being of marketing executives. Keywords Recognition Need, Marketing Executives, Need theories, Nigerian Banks, Meta Analysis, Finite Multiplier, Informational Role Hierarchy of Needs

Job Enrichment: A Panacea to the Problem of the Demotivated Marketing Executives in the Banking Industry in Nigeria

The study was undertaken to analyze how job enrichment could be used to solve the problem of the demotivated marketing executives in the banking industry in Nigeria. The study was examined in the light of Hackmen-Oldham Model, which states that the way jobs are designed produces critical psychological states which in turn affect key personal and work related outcomes. The population of the study included the marketing executives of the consolidated banks in the commercial city of Lagos, Nigeria. A sample of 180 marketing executives was determined using a percentage formula. And because of the small sample size, the use of t-test was preferred for the hypothesis testing. The result shows a calculated t-value of 13.980, which is greater than the critical t-value of 2.92 and a p-value of 0.005 < 0.05, indicating that greater responsibility, authority, control and variety in the job related tasks do provide a stimulus for a demotivated marketing executive in the banking industry in Nigeria. Keywords:Job Enrichment, Demotivated Marketing Executives, Banking Industry, Hackman-Oldham Model, Greater Responsibility, Variety in Job Related Tasks, Job Performance

The Reluctance of Top Management: A Major Obstacle to Sales Training in the Biotech Companies in Nigeria

Sales training program is a vital link in the process of converting the recruit into a productive salesperson. The money which is spent on recruiting and selecting salespeople may be wasted if their selection is not followed up with the proper training programs. Additionally, experienced sales people may not improve or even maintain the productivity if they are not provided with an adequate amount of continual training. However, this study was undertaken to know the top management commitment to sales training in the Biotech companies in Nigeria. Both primary and secondary source were used to garner data for the study. Questionnaire was the principal source of the primary data, while interview was complementary. Taro Yamane formula was used to determine the sample size of 244 salespeople out of the 624 population from the top ten Biotech companies in Nigeria. Hypothesis was tested using ANOVA. The result shows an ANOVA (F) value of 0.961 which is less than the critical F-value of 1.880, suggesting that the top management in the Biotech companies in Nigeria is not dedicated to sales training. Hence, the top management in this industry is falling short of the guided theory of Chester Barnard which suggests that the role of executive managers was to define the purpose of the organization; to establish a communication system; and to develop an appropriate system of incentive to recruit and train, retain and motivate employees of the organization. Keywords Sales training, Top Management, Biotech Companies, Training Assessment, Training Content, Program Desig

A Theoretical Basis of Work Behaviours of Salespeople in the Multinational Firms in Nigeria

At any one time ability and technique may make the difference as to whether a sale is won or lost, but the key factor in sale performance over time is motivation.  The motivation problem is how to get salespeople who operate on their own, away from head office, in a hostile environment, geographically distant, at a relatively high cost, to do their job well in the way management wants it to be done. Salespeople respond to stimulus and sales managers can influence this process. The motivation of salespeople is neither easy nor straight forward but there is no doubt that it has great significance of sales performance. Part of the complexity of this problem is the multiplicative nature of variables which impact on performance such as aptitude, role perception and the components of motivation itself. The problem is compounded of the individuality of selling job since the nature of the task, the individual’s perception of each element and the prospect’s reaction to the stimuli are all variable. Hence an attempt is made in this study to analyze the basis of the low motivation of the salespeople with a view to prescribing solutions to the multinational firms in Nigeria. In discussing the missing link in salesforce motivation effort, much is drawn from the Vroom’s Expectancy Theory. A sample of 350 salespeople and managers in selected multinational firms in Nigeria was determined using a mean. The hypothesis was tested using the Multiple Analysis of Variance (MANOVA) statistics to obtain the result that gives high F-values and P<0.000 showing that the results generated are not due chance, thus are correct and significant. Also with r-square values that are at least 0.820, a very strong relation is established between the research questions. Having adjusted r-squared values that are at least 0.818, it is determined that at least 81.8% of change is caused by the independent variable Based on this, the null hypothesis is rejected, indicating that a salesperson’s work behaviour and motivation will be high when salespeople believe that high levels of effort lead to high performance, and high performance leads to attainment of desired outcomes. The formula for the management salesforce motivation is recommended as follows: First, give status reward; second, pay particular attention to role problems and rejection handling, especially for new recruits; third arrange frequent communication, both individually and via regional or team meetings. Fourth, provide coaching and training for sales staff, including special assignments for older, more experienced staff; finally, stay close to subordinates-be available and understanding.   Keywords: Work Behaviours, Human Relations Movement, Salespeople, Motivation Theories, Job Enrichment, Expectancy Theory, Need Theories, Multiple Analysis of Variance

Empowerment: An Essential Ingredient in Modern Salesforce Management

Most organizations run on ruling that are passed down to the salespeople from top management; this can be demotivating. In contrast, delegating powers traditionally kept at the top can motivate and raise salesperson’s level of performance. The study was guided by the Behaviour model of consideration and initiating structure which suggests that a manager trusts, respects, care about the subordinate raises level of performance. A sample of 350 Salespeople and managers in selected multinational firms in Nigeria was determined using a mean. The hypothesis was tested using the Multiple Analysis of Variance (MANOVA) statistics to obtain the result that gives high F-values and P< 0.000, which shows that results generated are not due to chance, thus are correct and significant. Also with r-square values that are at least 0.839, a very strong relationship is established between the research questions. Having r- square values that are at least 0.837, it is determined that at least 83.7% chance is caused by the independent variable. Based on this, the null hypothesis is rejected, indicating that expanding a salesperson’s tasks and responsibilities increases a salesforce involvement, motivation and commitment, and raises everyone’s levels of performance. This suggests that salesforce empowerment encourages the following beliefs among salespeople: they perceive meaning in their work, meaning that their job fits their values and attitudes; they feel competent, or capable of performing their job with skill; they have a sense of self-determination, of having some choice over the tasks, methods, and pace of their work; and they have an impact-that is they have some influence over important strategic, administrative or operating decisions or outcomes on the job. It is recommended that to foster salesforce empowerment, management must create an environment in which every salesperson feels they have real influence over performance standards and business effectiveness within their areas of responsibility. An empowering salesforce environment should provide salespeople with information necessary for them to perform at their best, knowledge about how to use the information and how to do their work, power to make decisions that give them control over their work, and rewards they deserve for the contributions they make. Keywords: Empowerment, Salesforce Management, Behaviour Model, Self-Managed Teams, Multiple Analysis of Variance, Effective Leadership, Encouraging Input, Delegating Powers

Role-Reward Congruence for Enhancing Marketing Executives Team Efficiency in the Banking Industry in Nigeria.

Team marketing is gaining in prevalence and importance. It requires the joint marketing effort of several marketing executives, often from different functional areas within the bank. As a result, designing compensation plan for a marketing team has been a truly challenging assignment. Therefore, this study was under taken to determine the principles that should be followed in designed a team –based compensation system for marketing executives in the banking industry in Nigeria. Both primary and secondary sources were used to garner data for the study. Questionnaire was the principle source of the primary data, while interview served as complementary. A sample size of 180 marketing executive was determined using a percentage formula. A calculated chi-square result of 208.179 was obtained, using Kendall’s W Test statists. This value is greater than the critical chin-square value of 5.991, which is significant as P-value of 0.000<0.05. Furthermore, with the Kendall’s coefficient of concordance of 0.578, there is an established agreement on role-reward congruence, indicating that each team member contribute in a different way to the team. Therefore, not all of the team member must be measured and paid in the same manner. The specific performance measures used and the percentage which is team based should be chosen in accordance with the tasks performed by the individual marketing executive on the team. This finding is supported by equity theory of motivation that focuses on people’s perceptions of the fairness of their work outcomes relatives to their work inputs. Keywords: Role-Reward Congruence, Shared Reward, Team-Members Input, Peer Evaluation, Marketing Executives, Banking Industry, Team Efficiency, Team- Dynamics, Equity theory of Motivation

A Theory of Efficiency for Managing the Marketing Executives in Nigerian Banks

Bank customers in Nigeria are almost unanimous in decrying inefficiency and most have at some time or the other wished the Nigerian banks at least a little less of it. The concern for efficiency in managing the marketing executives in Nigerian banks prompted this study. The study was examined in the light of Kaizen (Continuous Improvement) and Efficiency Theory. A sample of 303 marketing executives from selected banks in Nigeria was determined using the finite multiplier. The hypothesis test results gave significant values of Wald Ch-Square for the intercept and individual response categories of research questions (p < 0.05) with the exception of the response of generally agree (p>0.05) and definitely agree (no computed Wald Chi-Square result), which indicated the significance of the results. Hence management is responsible for setting the context within efficiency improvements can take place, and bear prime responsibility for identifying and implementing efficiency of the marketing executives in Nigerian banks. Granted that the bank as a whole would benefit less with inefficiency, and that the task of reducing inefficiency in managing the marketing executives is uphill, a programme of reducing inefficiency should be based on three major premises, namely:` (i) that some are inefficient because they do not know what to do in given situations (structural inefficiency); (ii) that knowing what to do, some are inefficient because they do not want to do the right thing in given situations (primary or voluntary inefficiency); and (iii) that knowing what to do and wanting to do it, some are still inefficient because they cannot do the  right thing in given situation (secondary or induced inefficiency). This is the inefficiency brought about when the bank manager himself is inefficient, gives a bad example, stifles initiatives and is unwilling to control the marketing executives. The fact that it is recommended for top bank management to be exposed to training suggests that bank managers can and do induce inefficiency. For efficiency drive in managing the marketing executives in Nigerian banks, it is recommended the adoption of a 3H grand strategy to work on the Head (H1), the Heart (H2) and the Hand (H3) of management and the marketing executive, that is, respectively, their knowledge, their attitudes, and the tools with which they work. It is therefore essential for a bank management introducing an efficiency drive to identify factors that provide the critical inputs to his organization, and pass them through the 3H transformation process first. These critical factors are referred to as the crossroads. For just as traffic on a highway cannot flow freely unless the crossroads are cleared, no bank can function efficiently unless its critical inputs are functioning very efficiently. The crossroad (top management) in Nigerian banks must be transformed first through the 3H grand strategy if any efficiency drive for managing the marketing executives is to yield good results. Keywords:Efficiency Drive, Voluntary Inefficiency, Kaizen Principle, Nigerian Banks, Marketing Executives, Wald Chi-Square, 3H Grand Strategy

Towards an Instrumentality Theory of Salesforce Motivation: A Pragmatic Model

Finding an effective combination of motivations may be easier if a sales manager understands some of the behavioural factors that affect salesforce motivation. This study was undertaken to determine the behavioural factors that relate to the salesperson’s needs and to the conditional links between performance and rewards and between effort and performance. The study was guided by the Expectancy Theory which posits that motivation is high when workers believe that high levels of effort lead to high performance and high performance leads to the attainment of desire outcomes. A sample size of 244 salespeople and managers in selected manufacturing firms in Nigeria was determined using the Taro Yamane formula. Data from the study were analyzed using descriptive and inferential approaches. Simple tables, charts and table of means were used as descriptive tools. For hypothesis testing, anova, t-test and correlation analysis were used to judge the significance of the result obtained. Principle component (pc) extraction model was used in the multiple-factor analysis to predict inter dependency and interaction outcome among the variable. The result shows a satisfied significant of the independent variables at P = 0.05 level of significant and a corresponding values of F = 129.925, indicating that the amount of effort the salesperson desires to expand on each activity or task associated with the job – the individual’s motivation – can strongly influence his or her job performance. As with expectancies, sales managers should be concerned with both the magnitude and the accuracy of their subordinates’ instrumentalities. When the magnitude of a salesperson’s instrumentality estimates is relatively large, he or she believes there is a high probability that improved performance will led to more rewards. Conversely, he or she will be more willing to expend the effort necessary to achieve better performance. Therefore, given a salesperson’s expectancy instrumentality perceptions and valences for rewards, this study suggests that a sales manager can predict the level of that person’s motivation to expend effort on a specific job activity. To do this, one multiplies the person’s expectancies that the activity will lead to a given performance on various dimensions by valence for this performance and then sums across all performance dimensions. Keyword: Expectancy, Instrumentality, Valence, SalesForce Motivation, Supervisory Variables, Job Satisfaction, Principle Component, Manufacturing Firms