Project – The effect of the use of management consultancy firms in the Nigerian property market

CHAPTER ONE

1.0 INTRODUCTION

“The real estate sector has felt the tightening conditions in credit markets perhaps more than any other sector due to its heavy reliance on capital “says Howard Roth, Global and Americas Real Estate leader at New York-based Ernst and Young” “Financial conditions for real estate and undoubtedly worsening and the current financial markets landscape is expected to persist for the next couple of years”.

Still, he notes “In this time of economic uncertainty and lack of liquidity, many companies are proactively looking for ways to effectively manage risk, stream link operations, and enhance their business relationships so they can hit the ground running begin when markets begin to stabilize.”

The 2009 Ernst and Young Real Estate Business Risk report, produced with strategy consultancy Oxford Analytical of Oxford, England, itemizes the 10 top business risks faced by the industry as ranked by leading sector analysis.

Today, the relative modern professional such as Engineers, manager instrument analysts, etc. organize themselves in single units called real estate consultant firms.

Real estate consultancy firm in the sense started as long as man, as reported by David Jornem 1983, that legends in real estate such as Tailor Emersom, Gilberth and Ganth. He reported also that estate consultancy firm received a fill up at this era, through the work of luminaries such as Mckenzie and (much later) Roethlisberger and Elton Mayo of the famous how throne studies in the 1940, since its Jebut, real estate consultancy firm continues increasing at different part of the world. Judging by the rate if growth, Jormen reported a possibility of more than 100,000 consultancy firm in America today. In Nigeria, figures are hard to come by, but the last count by the institute of consultancy firm in Nigeria property market put the number of real estate firm around 700 apart from these firms there may be 1,000 individuals offering consultancy services in their own personal capacity.

Real estate consultancy firm has long been recognized an useful professional services that helps managers analyze and solve practical problems faced by their organizations and to earn from the experience of other real estate and those managers continue to influence the establishment of the real estate consultancy firm in their organization or where this is not viable, advice the board of directors on the need to make use of external consultancy services, or manages themselves, at homes act as consultants by providing advice to pears and subordinates. Real Estate Consultancy firm is practiced in so many ways.

These reflect the drivers of the consultancy firms and contexts in which consultants operate the different personalities on the client and consultant and the reviewed conceptual approaches and intervention methods developed by consultants.

According to Steels, Consultancy firm means any providing help on the content, process, or structure of a task or service of tasks where the consultants is not actually responsible for doing the taste itself but us helping those are in other words, consultancy firm is strictly providing help for others.

The purpose of the research is to look at the problems and challenges of real estate consultancy firm on the consultancy firm section, but emphasis will be on estate. The justifiable not only because small enterprises provide a logical starting point for big consultancy firm, but also because they serve as spring board and training ground for the letter. An estate is vital part of our economic and social life of any community. It is very difficult to define exactly what an estate is. The government industry development defined it as a manufacturing process or service industry with a capacity investment not exceeding N150,000 in machinery and equipment alone.

The United States small consultancy firm administration (SBA) defined small manufacturing timer as one of those average number employees managed from 250 to 1,500 people.

In another definition contained in the SBA, a small consultancy firm was defined as one which is dependently owned and

operated and is not dominant in its field, despite the differences in the definitions both with that of Stanley and Moise as well as others, they all share a common idea of the criteria which includes the number of employees, the sales value type of industry independent ownership and comparison with its past standards.

For the purpose of this research, the definition of the 1989 industrial policy will be adopted in which small scale industries was defined as. Those with the total investment of between N100,000 and N2,000,000 exclusive of land but including working capital.

• THE HISTORICAL BACKGROUND OF DOWN FUNCTION GROUP OF COMPANY NIGERIA LIMITED

Down function which was sited at 8 Nza street independence layout Imo established in 1970 for the purpose of public relation services. This involves such things as advertising and promotional services, that they help firms and organizations: they were into consultation with people who could represent what they actually want to portray as per calendar advertisement and consultancy firm advice and services. Through the years, it becomes important and necessary that they should engage into consultancy firm, which deals with fundamentals real estate concerns as consultancy firm policy and real estate who needs some years of practice training and managerial leadership to property mature and graduates into real estate consultancy firm profession.

When it becomes known of their consultancy firm services that is, towards real estate upliftment, they now started practicing as consultancy firm in Nigerian property market tendering advice and existence to their clients. But then, there was no code of conduct byclacte to regulate the moral and ethical standard of individual consultants. In view of this, the firm continued on consultancy services till date at least to make that real estate in their real estate problems could reach out for their services. Once they play the role of improving the quality and enhancing the duty of the real estate advises and consultancy services to organization both large, medium and small as well as to achieve their objectives.

• STATEMENT OF PROBLEM

Real estate consultancy firm has long gained prominence in many organizations where small or large. Due to importance and relevance of consultancy firm, it becomes necessary to property analyze its element procedure and reduce its efficiency. In view of this the effect of the use of consultancy firm, the researcher decided to research on those problem encountered by Macon Imo State.

1. One of the major problems encountered by Macon Imo state is the industry problems of sourcing capital to enable them procure machinery and raw materials for manufacturing of their product. Poor real estate by inexperienced managers who do not understand and are unable to forecast the environment is one of the problems Macon Bread Industry is undergoing. The daily average output of Macon Bread is very low resulting in higher prizes for their product.
2. Insufficiency of workers and the quality of their products are not comparable to the factory product because of lack of fund and government support.
   • OBJECTIVES OF THE STUDY

The aims of this study include:

1. The evaluation of the activities of consultancy firm, on the performances of estate in the area of organizational competence performance and excellence.
2. This study will also reveal if consultancy firm are truly “company doctors”, “trouble shooters” or “consultancy firm healer” as claimed by some managers.
3. It will also find out if estates are aware of the services of consultancy firm and can afford it.
4. Finally, if estate can get the services and when need at a reason cost.
   • RESEARCH QUESTIONS
5. What are the problems hindering the effective management?
6. How is it affecting our property marketing?
7. Is a consultancy professional in their job?
8. Can client get good information from consultancy firm?
9. How would you describe the management consultancy firm in Nigeria property market?

• SIGNIFICANCE OF THE STUDY

This study of the effect of the use of consultancy firm , will be beneficial to managers, consultancy firm men and administration wishing to use consultancy services more effectively or to apply some consultancy firm skills in problem solving within their organization. This study will be of immense advantage to consultancy firm department of national and sectional institutes concerned with the consultancy firm enterprises development.

The result of this study will also contribute to the growing literature available on real estate consultancy firm.

• SCOPE OF THE STUDY

This study intends o examine consultancy firm as a method and consultancy firm is a professional without any regard to the sigh differences attached to them for the purposes of this study.

• DEFINITION OF TERMS

1. Consultant: Person who gives expert advice to others, that is somebody that guide and help others or people on areas they are ignorant of, such as in consultancy firm, medical areas, real estate duty, etc.
2. Clients: These are personnel that get help or advice from any professional man.

• Clientele: Collective customers that seek help from those in high authority that is professional in certain fields.

1. Professional: The skill, etiquettes, the special conventions forms of politeness etc s doctors, educational consultants, lawyers etc, practicing as to make a living.

Project – The effect of the use of management consultancy firms in Nigeria property market