This paper focused on the challenges and prospects of private sector organizations as the main engines of economic growth and development in Nigeria. It discussed the concepts of organization, the prospects and challenges of private sector-led growth in Nigeria. The study examined the current business environment and discussed ways of encouraging the private sector organizations in Nigeria to act as a catalyst of economic growth and development. The paper posits that to achieve a desired sustainable private sector led growth of the economy, it is imperative for government to continuously put in place policies and programs that will encourage private sector participation and contribution to the development process. Finally it concluded that there is growth in the financial performance of private sector organizations and its sustained prospects and success hinged on all those series of initiatives and policies of the government to advances private sector led growth and transform the country into an economy that is robust, stable, dynamic, export-led and competitive.
Author(s) Details Dr. Monday Osemeke Department of Business Administration, College of Management and Social Sciences, Samuel Adegboyega University, Ogwa, Edo State, Nigeria.
Organizational structure forms the interaction and responsibilities among duties, individuals and resources in an organization. Traditional organizational structures are generally categorized as functional, separated, strategic work unit, matrix and product set structure. Successful institutions give importance to informal organizational factors along with formal organizational factors. Informal organizational factors are mostly people oriented topics. Organizational managers are expected to be leaders and coordinate the staff in accordance with the organizational purposes in order to use the material and human resources of the organization rationally. Managers play a fundamental role in school quality and they have an impact on school and classroom management with the management approaches they perform. Educational organizations are social open systems and they make great effort to maintain their existance and to acheve their goals. Despite their effort, some may be defined as “effective” and some may be called “less effective”. Many research have demonstrated that school efficacy is not related with financial status but with organizational culture and climate. This section aimed to determine obstacles in educational organizations through PEST (Political, Economical, Social and Technological aspects) analysis and to make advisory inferences for future research. This study is important to reveal the obstacles in the schools and educational organizations. By doing this, the quality of the school will increase, students’ success will be enhanced and educators will experience more job satisfaction in their professions. The political obstacles in schools are related to syndicate, diplomacy, hierarchy, upper management and legislation and the economical obstacles stem from school budget, personal rights and limited school resources. The social obstacles are school environment, principal, teacher, student and the issues related to school culture. The technological obstacles consists of issues related to teaching material and virtual system. The political, social, cultural, economical and technological obstacles in schools should be eliminated in order to get the expected efficiency in schools. It can be concluded that political, social, cultural, economic and technologic obstacles should be reduced in order to obtained desired productivity in schools.
Dr. Süleyman Göksoy Department of Educational Sciences, Faculty of Education, Düzce University, Konuralp Campus, Düzce, Turkey.