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The Benefit Of Privatization And Commercialization On Nigeria Economy “marketing Focusâ€
[A CASE STDUY OF POWER HOLDING COMPANY OF NIGERIA PHCN]
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1.4 SCOPE OF THE STUDY
In recent years, the idea of privatization and commercialization has gained universal appeal in all part of nations.
The time scope of this research could be the periodic depth of the research, time scope determine the depth of the data to be collected on the case study.
The industrial scope is the specification of the industry of study and the industrial scope of this research is (PHCN) Power holding company of Nigeria.
Theoretical scope is about the aspect if the subject matter that the researcher covers. And this research work, theoretical scope is the benefit of privatization and commercialization.
1.5 SIGNIFIANCE OF THE STUDY
The importance of privatization and commercialization to companies enable the companies to exploit the available opportunities of production and profit maximizing.
The importance of privatization and commercialization could enable the market or consumers to get their needs satisfied and therefore improve the standards of living.
The importance of privatization and commercialization to students as a writer who engages on the study in the partial fulfillment of the requirement of the award of Higher National Diploma in Marketing.
The research also broaden the academicians knowledge and likewise the researcher will be able to withstand any tasks of this nature in future assignment.
1.6 LIMITATIONS OF THE STUDY
The limitation could be secrecy: this connoles the situation whereby the needed information is being kept for confidential reasons; and this serves as a threat to the researcher.
Financial constraints: This could also occur as a result of lack of find for the properrunning of the research work nad if this is not sufficienty and not effective to solve problem at hand.
Fime constraint: the research time is always bery long, and if proper time or adequate time is not being given to the researcher the work will be meaningless and the reseaecher will be unable to solve the problems time is more vital in carrying out a research work, regardless of the type of research being it primary or secondary research.
Wrong sampling could also be a problem or threat to a researcher. A situation whereby a researcher collects and analyzes wrong sample, this will make the research work not reliable and become more complex.
1.7 DEFINITIONS OF TERMS
1. Privatization: is the transfer of ownership and control right over firms from the government owned industries to private sector.
2. Commercialization: This is the withdrawal of government funding from parastatals to enable this operate commercially to fund for its existence of operation.
3. Performance contract: this is said to designed to govern the relationship between the government and commercialized enterprises.
4. Economy: Avoidance of waste of money, strength pr anything else of value.
5. Resources: Wealth, suppliers of goods, raw materials etc. which a person, country, company has or can use.
6. Owner’s equity: The financial interest of the owners.
7. Values: Is the amount obtainable in the market for the exchange of goods and services. This is the owrht of an asset prevailing at a particular period of time.
8. PBIT: Profit before interest and taxation
9. C.E: Capital employed
10. Paid:. Profit after interest and taxation
11. Asset: Assets are things of value owned by the business. They are also resources of the business.
12. Terms of agreement: This is said to be the rules or agreement that governs the privatized company and the government.
13. Stewardship accounting: Act of giving doubt free account one’s property and resources being managed.
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