EFFECT OF WORKING CAPITAL ON THE OPERATION OF BUSINESS ORGANIZATION
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- 1-5 Chapters
- Quantitative
- Chi-Square
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This research work is to know the effect of working capital on the operation of business organization using 7up bottling company Nig. Plc as a case study. In most of the business organizations today, the management have not seriously looked into the effect of working capital on the operation of their business and this has been adversely affecting the growth, stability and profitability of the business within their years of operation. In pursuant to the solution to the problem above, the study has the following objectives: (i) To find out the reasons for retardation in business operation. (ii) To make a careful consideration of the necessary skills required of the organization’s staff that are responsible for working capital management. (iii) To appraise the reasons for inadequate cash and its effect on the business of seven up bottling company Plc. Questionnaire were drafted and distributed to elicit response from the prospective respondents, whose functions were basically related to financial matters, using a case study approach and limiting it to 7up bottling company plant in Ijora, Lagos State. Also, the use of tables and percentage were adopted for proper interpretation of data and findings were made. The main findings of this research work are that working capital is essential for the smooth day-to-day running of the business organization and therefore requires high level of skills in its management. The conclusion drawn from the findings were that management of working capital is a veritable means of ensuring the continuity of a business as well as the maximization of shareholders’ wealth. In the light of the preceding findings, the following recommendations were made.(i) Working capital requirement should be pre-determined. A good technique used in doing so is cash forecasting (cash budgeting). (ii) Also, sources and application of funds statements could be used to check the state of working capital. It is important to keep adequate working capital within perspective by calculating the cash operating cycle periodically. Adjustment may be required where deviation occurs.
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