Annual report and consolidated financial statements for the year ended 31 December 2011

Investor slideshow and annual financial statements of AMCO

The three pillars of institutional theory and IFRS implementation in Nigeria

This study explores the effects of the three pillars of institutional theory in shaping the activities of institutional entrepreneurs and other social actors during IFRS implementation in Nigeria. This study uses document analysis method to achieve the objectives of the study. This study finds that IFRS implementation in Nigeria witnessed some progression from regulative to normative to cognitive pillar building. The regulation on IFRS implementation was initiated top-down rather than through lobbying from professional accounting bodies and the public. Changes in the regulatory framework brought some improvement to corporate financial reporting practices such as the timing of corporate filings of audited financial reports. However, the implementation process is laden with conflicts and power struggle among institutional actors. These conflicts and power struggles led the President of Nigeria to sack the Board of the Financial Reporting Council of Nigeria (FRC), the reconstitution of the Board and appointment of a Chairman for the Board of the FRC. IFRS implementation process resulted in power redistribution among institutional actors, which led to resistance, tensions, and conflicts among institutional actors. The conflicts arise from the need of actors to legitimate their activities and secure their positions. The three institutional pillars are key components of a change process and the actor’s social position affects their capability to act as an institutional entrepreneur. This finding should provide foundational knowledge that will inform practitioners, researchers, and regulators in developing countries on how institutional actors shape the approach to corporate reporting regulations

Organisational Branding, A Strategic Tool for Engineering Customer Satisfaction in Service Industry: A Study of Selected Banks

Effective brand strategies cannot be developed without the customers in mind, hence the need to examine how brand strategies affect the behaviours of these customers to yield a good result. The objective of this study is to evaluate the impact of organisational branding on the levels of customer patronage. A descriptive and survey design was adopted for the study. The population for this study consist of customers from Wema and Zenith bank within Lagos metropolis. The questionnaire was used in eliciting information from respondents, which contained two sections. Two research questions and hypotheses were raised and tested. The data collected was analysed using Statistical Package for Social Sciences (SPSS version 20.0), for frequency distribution. Further analysis was carried out using linear regression and correlation analysis. From the findings made in the study, there is a significant role played by brand identity in meeting customer expectation and there is a significant effect of brand culture on customer satisfaction. It was recommended that management should be conscious of their peculiar corporate identity once established in order to capitalize on their strengths and opportunities, as well as improve on their weaknesses and address their threats in good time and Managers should strive to create a peculiar brand culture in line with their given brand identity, as the creation of a strong brand culture will enable the staff of the organisation to deliver quality service for good customer satisfaction