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ABSTRACT
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This study examines the role of human resource management in diversification strategy in Crital-hope Kaduna limited. The theoretical basis for the study was obtained through review of relevant literature. The population of the study was 60 and 56 were sampled out as sample size.
The instrument used for the collection of data was questionnaire, 56 questionnaires were distributed and only 45 were filled and returned. Simple percentage was used to analyze the data and chi-square was used to test the research hypothesis. Based on the data analyzed and the findings arrived at, the researcher concluded that human resource management plays significant role in diversification strategy in crital hope limited.
Thus, diversification strategy has contributed in the increase in sales volume and profit margin of the organization. The study therefore recommends that There should be proper feasibility study and planning to over comeunfavourable economic environment: Thus before going into any business, a proper feasibility study must be carried out to prevent business failure. The plans should also be flexible and should also be able to overcome uncertainty.
TABLE OF CONTENTS
TITLE PAGE. i
DECLARATION.. ii
APPROVAL PAGE. iii
DEDICATION.. iv
ACKNOWLEDGEMENT. v
ABSTRACT. vi
TABLE OF CONTENTS. vii
CHAPTER ONE. 1
INTRODUCTION.. 1
1.1 Background of the Study. 1
1.2 Statement of the Problem.. 3
1.3 Objectives of the Study. 4
1.4 Statement of Hypothesis. 5
1.5 Significance of the Study. 5
1.6 Scope of the Study. 6
1.7 Limitations of the Study. 6
1.8 Historical Background of Crital Hope Nigeria Limited. 7
1.9 Definition of Terms. 9
CHAPTER TWO.. 11
LITERATURE REVIEW… 11
2.1 Conceptual Framework. 11
2.2 Conceptual Definitions. 12
2.3 The Problem of Diversification. 20
2.4 Reasons for Diversification. 23
2.5 Harmonized Diversification and Organizational Growth. 26
2.6 Managing Diversification. 29
2.7 Role of HRM in Diversification. 32
CHAPTER THREE. 36
RESEARCH METHODOLOGY.. 36
3.1 Research Design. 36
3.2 Research Population. 36
3.3 Sample Size and Sampling Techniques. 37
3.4 Method of Gathering Data. 37
3.5 Justification for the Method Used. 37
3.6 Methods of Data Analysis. 38
3.7 Justification for the Instrument Used. 39
CHAPTER FOUR.. 40
PRESENTATION AND INTERPRETATION.. 40
4.1 Data Presentation. 40
4.2 Data Analysis. 42
4.3 Test of Hypothesis. 46
CHAPTER FIVE. 49
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS 49
5.1 Summary of Findings. 49
5.2 Conclusion. 51
5.3 Recommendations. 52
BIBLIOGRAPHY.. 55
APPENDIX.. 57
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
The wake of economic recession and uncertainty business environment of this present time have caused and forced many organizations to source for alternative and additional means of survival so as to be able to cope with these turbulent and strenuous environmental situations.
Many of the current organizations in the world are moving toward expanding and improving their business environment. One of the reasons may be meeting customers’ multiple needs. By meeting costumers’ multiple needs, managers attempt to make them more loyal to their organizations (Chirani and Effatdoost, 2013).
For this reason and other technical ones such as raw material procurement and the final product’s distribution system inside organizations, many organizations have decided to diversify in their strategy.
Diversification strategies can influence the competitive balance in an industry. In diversity analysis, there are two key elements including risk and output (Henson, 2011). One way to reduce risks is to diversify investments. Investment companies can reduce risks by investing in different assets and forming a portfolio (Theunissen, 2012).
Consequently upon the above, most business organizations have conceived a lot of business options available in the environment all aimed at improving the income generation of their outfits. Thus, in realization of these laudable objectives, the private sector which is the major player in the economy has to diversify its operations(Schoonover, 2010).
Thus, the intention of the Federal Government to introduce structural adjustment program (SAP) 1986 was aimed towards restructuring and diversifying the productive base of the economy in order to reduce dependence on oil sector and imports but to intensify the growth potentials of the private sector, to enhance efficiency of public corporations as well as lessen the dominance of unproductive investments in the public sector etc.
It is on this note that Yasmeen (2011) elaborated that the business world, competition is getting worse to worst day by day and thus HRM is the sole factor that can provides an organization with competitive advantage. Human resource management is a set of practices that affects performance, attitude and behavior of employee at work.
In the very early days, HRM was not considered an important part of organization but now without Human Resource Management department an organization cannot be administered successfully especially when diversification strategy is to be adopted (Aslam et al, 2013). All activities related to developing and promoting the productivity and progress of the organization is the work of HRM (Yasmee, 2011).
These activities comprise employee’s relationship management, compensation of employees, providing health and safety benefits, training and development to employees as well as diversifying strategies to ensure survival of the organization. Many authors stated that there are three basic practices that play very acknowledgeable role in performing any business activity.
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