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The Significance Credit Management In Business Organization
CHAPTER ONE -- [Total Page(s) 4]
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1.3 OBJECTIVES OF THE STUDY
Sales is not complete until cash is in the bill, therefore, the control of debtors in an organization needs to be examined to know whether the aim of granting a credit might be achieved after all. Hence, the main objectives of this research is to examine the significance of credit management in business organization, others are
i) To find out the extent to which granting of credit increase sales.
ii) To know the problem(s) encountered as a result of credit sales due to violation of credit period.
iii) To the effect of credit sales in the overall performance of the organization
iv) To examine the relationship of credit management to the liquidity ratio of the organization
v) To find out the extent to which granting of credit influences the relationship between customers and the organization
1.4 SIGNIFICANCE OF THE STUDY
The recent inflationary condition which has many organizations into liquidity problem is the concern of researcher. It has become more important than ever before to get money promptly from trade debtors, but in most case this has probed to be a difficult task, especially, where debtors have traditionally had little difficulty in obtaining substantial periods of credit, what surprise the researcher really was. His experience during his industrial attachment in global soap and detergent
The study is of immense important to all and sundry, as a result, the research work will.
i.) Broaden the scope of the research of the researcher on the significant of credit management in business organization
ii.) It will be of significance to any future researchers, who may want to carry out further study on this typical area
iii.) It will enable the company to realize the impact of credit management in the overall performance of the company.
iv.) The study will establish the fact that trade credit is advantageous to companies
1.5 SCOPE OF THE STUDY
Theoretically, this study is limited to finding out the significance of credit management in business organization. It considers how credit management can effectively help the organization to achieve its aims and objectives.
Geographically, the study will be limited to Global soap and Detergent Nigeria Limited and its vendors.
Though, I deally, the whole of Nigerian is expected to be covered but due to the problems of time and cost, therefore the findings is particular to all business organization in Nigeria.
1.6 DEFINITION OF TERMS
SIGNIFICANCE: This simply means the importance of something
CREDIT: this is the ability to buy or borrow in consideration of promise to pay within a Stipulated period time, sometimes loosely specified following delivery.
MANAGEMENT: is the executive authority the combined field of policy and administration, a team of ten employees as a correlative decision making.
BUSINESS ORGANISATION: simply denotes a trading environment with the division of work, and the allocation of duties, authority and responsibility for the purpose of making profit.
CHAPTER ONE -- [Total Page(s) 4]
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ABSRACT - [ Total Page(s): 1 ]ABSTRACT This project is to enlighten, motivate and give understating on the significance of Credit management in business organization, the Chapter One aspect will give details in background of study, statement of problems objectives, scope of study, definition of the terms, the working hypothesis, history review shall emphasis on the need for credit management, credit policy, collection, level of risk, historical standard for credit worthness indicators, account of sales and credit i ... Continue reading---
