MY MINI

PROJECT

NAME OF THE INSTITUTION:

Joint Professional Training and Support International (JPTS Int'l)

PROJECT TOPIC:

1
THE IMPACT OF MANAGEMENT INFORMATION SYSTEM ON FINANCIAL
MANAGEMENT. (A Case Study Of Zenith Bank Plc)

NAME OF RESEARCHER:

ELIZABETH IHEANACHO

THIS STUDY IS IN PARTIAL FULFILMENT FOR THE SUCCESSFUL COMPLETION OF

TWO COURSES IN THE DEPARTMENT OF BUSINESS ADMINISTRATION ALSO
LEADING TO THE AWARD OF MY Bsc DEGREE IN JPTS INT'L,OJODU/AGEGE
CENTRE

DATE:

On The 9th Of June,2022

CERTIFICATION

This is to certify that this Project Research "THE IMPACT OF MANAGEMENT

INFORMATION SYSTEM ON FINANCIAL MANAGEMENT" A Case Study of Zenith

2
Bank Plc, Fagba Branch was carried out by I "ELIZABETH IHEANACHO" a final
year Business Administration Student of JPTS Int'l for the successful completion
of two courses (Research Methodology 1 and Management Information System
1).

Mr Chris. Date

DEDICATION

3
I would like to dedicate this Project Research

to God almighty for His Supply of Strength,

Wisdom and Grace in all ramifications.

For Divine help throughout this Project Research

All Glory To Him now and forever

4
 ACKNOWLEDGEMENT

I want to specially thank everyone that contributed one way or the other in this
research/project work. God reward you all. Thanks and God Bless and reward
you all immensely.I Love and appreciate you all.

ABSTRACT

5
This study examines The Impact of Management Information System on Financial
Management with reference to Zenith Bank Plc, Fagba branch. it analyze general
concern for every organization in recent times most especially because of the role
it plays in the acquisition of skilled and knowledge required by employees in the
performance of their job for the coherent of organizational effectiveness and it
entails the provision of necessary information to individual managers in an
organization in order to improve their productivity and efficiency in the
attainment of the overall objectives of the organization, which are profitability,
market standard, employees satisfaction and social responsibility. The data were
collected to check the reliability, validity and accuracy in the process and table
constructed for the respondents. Alternative and Null Hypothesis was used and
the statistical tables were constructed and tabulated to show respondent
background such as level of education, working experience e.t.c. 15
questionnaires were administered to the Staff members of Zenith Bank Plc, Fagba
Branch using Alternative and Null research hypothesis. The findings revealed that
companies should establish a record keeping system tailored to maintain its
management information. It therefore recommend the use of the management
information system in investment appraisal, prospective investor, merger and
acquisition, valuation of business, company tax computation and finally on
employee and business valuation evaluation.

TABLE OF CONTENT

Cover page

Tittle page

6
Certification

Dedication

Acknowledgement

Abstract

LIST OF TABLES :

CHAPTER ONE:

1.0 INTRODUCTION

1.1 Background of the study

1.2 Scope of the Study

1.3 Objective of the study

1.4 Statement of Hypothesis

1.5 Significance of the study

CHAPTER TWO:

2.0 REVIEW OF LITERATURE

2.1 Conceptual Framework

2.2 Definition of "Management" by Eminient Authors

2.3 History of Zenith Bank Plc

2.4 Information System

2.5 Financial Management

2.6 Functions of Financial Management

2.7 Chapter Summary

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CHAPTER THREE:

3.0 RESEARCH METHODOLOGY

3.1 Area of study

3.2 Research Design

3.3 Population of the study

3.4 Sample size determination

3.5 Research Instrument and Administration

3.6 Method of data collection

3.7 Method of data analysis

CHAPTER FOUR

4.0 DATA PRESENTATION AND ANALYSIS

4.1 Data Presentations(Tables 1-3)

4.2 Answering Research Questions (Tables 4-9)

4.3 Testing of Hypothesis

4.4 Summary of Findings

CHAPTER FIVE

5.0 SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendations

8
REFERENCES

CHAPTER ONE

1.0. INTRODUCTION

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1.1 BACKGROUND OF THE STUDY

The business world has been impacted by a variety of changes, populations have
been growing rapidly;markets have been expanding often to the multinational
level; customer expectations have been rising and expanding, government
demands have been multiplying,social responsibility, ecological concern and
public institutions had been growing. As might expect,such changes are creation
intense competitive pressure, posing complex decision situations and squeezing
available resources. Organizations have responded in various ways diversifying
goods and services, rearranging organizational structures, incorporating new
technology, participating in community action programs and last but not the
least,re-examined Information System.

These changes and developments have both stimulated the need for more
useful information and provided the means of attaining it consequently
information systems are exhibiting varied and interesting effects.For
instance,computers and related equipments are applied to the collection,
processing and dissemination of information.This research project is aimed at
evaluating the impact of Management Information System on Financial
Management. It further explains the benefits of Management Information System
on Financial Management and it's advantages to the economy.

1.2 SCOPE OF THE STUDY

Management Information System is a very important tool in every organization

for effectiveness and productivity. However,to undertake a study on Nation-wide
basis covering all Zenith Banks is too numerous a task and beyond the resources
of the researcher,based on this,the study is confined to Zenith Bank,Fagba Branch
in Lagos State.

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 In this study,critical analysis will be carried out to see the kind of impact
Management Information System has on the Financial Management of the case
study and also if there are needed adjustment or upgrade. Also the study also
covers how the impact of Management Information System on Financial
Management has been beneficiary to the economy.

Various Recommendations were also given by the researcher for more ways
Management Information System can impact the Financial Management in Zenith
Bank,Lagos State, Fagba Branch and highlighted more benefits it would have on
the economy.

1.3 OBJECTIVES

This research of the impact of Management Information System on the Financial

Management of the case study, Zenith Bank,Fagba Branch, attempts to achieve
the following;

* To find out the profound contribution Management Information System has

made on their Banking operations/Financial Management

* To analyse how effective Management Information System is on their Financial

Management

* To know if Management Information System has contributed in developing

Financial Management in their organization

* To know if Management Information System has made decisions leading to the

advancement of the organization

* To provide recommendations for improvements and strategies

1.4 STATEMENT OF HYPOTHESIS

The following hypothesis has been formulated to help analyse properly;

* Ho (Null Hypothesis) : Management Information System has no impact on

Financial Management

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*H1(Alternative Hypothesis) : Management Information System has an impact on
Financial Management

1.5 SIGNIFICANCE OF THE STUDY

This is to clearly define with proof the Impact of Management Information System
on Zenith Bank Plc,Fagba Branch. This project is very informative and a useful tool
in decision making particularly. The general public will find this project research
very educative and useful in terms of general knowledge.

CHAPTER TWO

2.0 REVIEW OF LITERATURE

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Management Information System has been in existence before now.This dates as
far back as when ledgers were used to keep account and track records before the
invention of Computer System. This chapter covers all about Management
Information System ranging from the Conceptual Framework till it's summary. It
contains adequate knowledge that would be useful to any reader and the general
public.

2.1. CONCEPTUAL FRAMEWORK

Management Information System is an Information System used for

collation,coordination,control, analysis and visualization of information in an
organization to aid decision making. It studies both the people and technology in
an organizational context. It's ultimate goal is to increase the value of the
company and also for profit maximization.

When a system gives information to people who are not part of the
managerial staff then it will not be viewed as part of a Management Information
System (Belassi and Tukel 1996) such a system,while it may contain similar
interfaces as Management Information System is not as part of it Examples of
such systems are salary acknowledgements and excise duty statements.
Generally, Management Information System deals with information that is
systematically and routinely collected in accordance with a well-defined set of
rules(Spathis et al.., 2007). Furthermore, Management Information System is a
part of the formal information network in an organization. Information that has
great managerial planning importance is sledom obtained at golf courses.
However, this information is not part of Management Information System but
"one-shot market research data accumulated to measure the full potential of a
new product does not come within the goal of a Management Information System
by our definition seeing as such information which is systematically retained is not
collected on a regular basis"(Belassi and Tukel 1996).

A marketing Management Information System maintains managerial activity in

the field of product advancement,pricing decisions,promotional efficiency and

13
sales forecasting. Furthermore, marketing system rely on external data source
which includes customers and competition. The collected information is also
important to define various marketing strategies. We classify the role of
Information System in a firm in order to analyze the influence of Information
System on companies and organisations also determining the amount of impact
mordern Information Technology has on the company's cost structure and
examining how these effects result in changes to different properties of the
company or organization from a Perspective of agency theory and transaction
cost economics (Spathis et al.., 2007).

Furthermore, Information Systems are utilized to examine the global business

environment and conditions, presenting the organization or company with
valuable feedback concerning business possibilities,market and cosumwe
demographics as well as cultural and political information (Lewis,2004). This kind
of feedback is critical for forming and completing marketing and business
strategies that equal organizational strengths with environmental opportunities.
Also Information System links and coordinates the different operations of the
organization globally facilitating overall internal efficiency (Baccanni 1999).
Information System are crucial for the management of quality assurance system
and the assessment of the environmental influence of alternative packaging
materials. Automated warehousing and distribution world,of course, be
impossible without significant investments in Information System (Hjelt and
Bjok,2007).

According to Gray (2000) human resource management information systems

are occupied with activities related to all managerial levels, workers and other
individuals employed by the company. Because the personnel functions refers to
all other business areas, the human resources management information system
represents an invaluable part in guaranteeing organization success (Spathis et
al.., 2007). Activities performed by the human resources management

14
information system include workforce analysis and planning, hiring, training and
job assignments (Hjelt and Bjok,2007).

2.2 DEFINITION OF "MANAGEMENT" BY EMINENT AUTHORS

ACCORDING TO LAWRENCE A APPLEY;

“Management is the development of people and not the direction of things”.

ACCORDING TO JOSEPH MASSIE;

“Management is defined as the process by which a cooperative group directs

action towards common goals”.

IN THE WORDS OF GEORGE R TERRY;

“Management is a distinct process consisting of planning, organizing actuating

and controlling performed to determine and accomplish the objectives by the use
of people and resources”.

ACCORDING TO JAMES L LUNDY;

“Management is principally the task of planning, coordinating, motivating and

controlling the efforts of others towards a specific objective”.

ACCORDING TO PETER F. DRUCKER

"Management is a multi-purpose organ that manages business and manages

managers and manages workers and work."

In the above definitions and the ones not listed, there are similar keywords used
in all their definitions such as;

*Planning/Organising/Controlling/Coordinating/Motivating

* Process/Development

* People/Resources

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* Objectives/Goals

* Action/Efforts

All these are what Management entails and it's overall concept.

According to Kenneth Syledon, Management Information System can be

divided into 5 eras namely;

*The use of the Mainframe and Mini-computer

*The use of Personal Computers

*The use of Client and server network

*The use of Enterprise computing

*The use of Cloud computing

Cloud computing is the most up-to-date and used in many organizations.

2.3 HISTORY OF ZENITH BANK PLC

Zenith Bank was founded and incorporated by Mr. Jim Ovia, CON, as a private
limited liability company in May 1990 and commenced operations in July of the
same year as a commercial bank.From its humble beginnings of a single branch
that started off on NGN20 million (US$4 million), Zenith Bank Plc is now Nigeria’s
largest and one of Africa’s largest financial institutions by tier-1 capital, with
shareholders’ funds of NGN1.28 trillion (US$3.03 billion) and a total asset base of
over NGN9.6 trillion (US$22.80 billion).With more than 10,000 staff in its
employment globally, the Bank presently operates from over 500 branches and
business offices across all states of Nigeria, the Federal Capital Territory (FCT),
Abuja, and its foreign subsidiaries in Ghana, Sierra Leone, Gambia and United
Kingdom.

Mr Ovia chose “Zenith” as the name of the Bank, a name he reckoned had not
been used in the international and global market. In arriving at a decision, he was

16
guided by his understanding of the core elements of successful branding,
including simplicity, broad-based appeal, and uniqueness. Leveraging on his
experience over the years, he was able to write the application for a banking
license, including a detailed feasibility study of the proposed Zenith Bank. He put
so much into delivering a high-quality application for a commercial banking
license because of his strong view that whatever emanates from the company
represents the company and the values of the founder. The licence for Zenith
Bank to commence operation was issued on April 22, 1990.With Mr. Ovia as
pioneer Managing Director/CEO, Zenith Bank commenced business in a duplex at
Ajose Adeogun Street, Victoria Island, Lagos, sharing the facility with another
tenant who occupied the other side of the building. As time passed, the tenant
moved elsewhere, allowing Zenith Bank to utilise the entire space. The new team
learnt quickly, following Mr. Ovia’s example of discipline, commitment and getting
results under great pressure. The management team drew up a strategic plan to
open up branches within a short time in each state capital, with a mandate for
each branch to be established and open for business within three to six
months.When Zenith Bank first opened its doors in 1990, there were no
automated teller machines (ATMs) in Nigeria, no debit or credit cards, and no
digital networks. In 1995, the need to integrate digital technologies in the
business led Mr. Jim Ovia to establish Cyberspace, a network and ICT-service
company.Initially, he set up a VSAT (very small aperture terminal) satellite, but
the military government of the day pulled it down because they were under the
impression it could be used to spy on the country. This setback did not deter him
from his digital banking ambitions though as he went ahead to use existing phone
lines to network the Bank. After a couple of meetings with the Nigerian
Telecommunications Limited (NITEL), Zenith Bank was allowed to install VSAT
dishes on the top of its buildings, using them to connect branches.Consequently,
Zenith Bank became the first bank to network its branches in Nigeria, a game-
changer for the Bank and the industry.

In 1997, Cyberspace acquired a new spectrum frequency from the Nigerian

Communications Commission (NCC) which enabled it to transmit data within
Nigeria wirelessly. With Zenith Bank now networked, the Bank was able to ensure

17
that staff members have a connected personal computer or a handheld device.
The bank began digitalizing many of its processes, making it easier for customers
to transact in real-time. In 2004, the Central Bank of Nigeria (CBN) declared that
banks had to be recapitalised with a minimum of NGN25 billion or be liquidated.
Out of ninety banks in existence at the time, only twenty-five were able to raise
the funds. While some banks merged or acquired others, Zenith Bank was one of
only two banks that had no need to acquire or merge with any other financial
institution. When the Bank announced an initial public offering (IPO), the public
mood was extremely confident, and the demand for the Zenith Bank stock was so
great that the IPO was over-subscribed. The Bank was able to raise NGN48 billion,
although it could only keep just a third of that sum in accordance with the Stock
Exchange rules. Following the highly successful IPO, the Bank became a public
limited company on June 17, 2004, and was listed on the Nigerian Stock Exchange
(NSE) on October,in March 2007, Zenith Bank was licensed by the Financial
Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK)
Limited as the United Kingdom subsidiary of Zenith Bank Plc. The Bank has
witnessed significant expansion in Africa and established the following
subsidiaries: Zenith Bank (Ghana) Limited, Zenith Bank (Sierra Leone) Limited and
Zenith Bank (Gambia) Limited. The Bank also has presence in the People’s
Republic of China and the United Arab Emirates. In 2013, the Bank listed $850
million worth of its shares at $6.80 each on the London Stock Exchange (LSE).

2.4 INFORMATION SYSTEM

information system, an integrated set of components for collecting, storing, and

processing data and for providing information, knowledge, and digital products.
Business firms and other organizations rely on information systems to carry out
and manage their operations, interact with their customers and suppliers, and
compete in the marketplace. Information systems are used to run
interorganizational supply chains and electronic markets. For instance,
corporations use information systems to process financial accounts, to manage
their human resources, and to reach their potential customers with online

18
promotions. Many major companies are built entirely around information
systems. These include eBay, a largely auction marketplace; Amazon, an
expanding electronic mall and provider of cloud computing services; Alibaba, a
business-to-business e-marketplace; and Google, a search engine company that
derives most of its revenue from keyword advertising on Internet searches.
Governments deploy information systems to provide services cost-effectively to
citizens. Digital goods—such as electronic books, video products, and software—
and online services, such as gaming and social networking, are delivered with
information systems. Individuals rely on information systems, generally Internet-
based, for conducting much of their personal lives: for socializing, study,
shopping, banking, and entertainment.

As major new technologies for recording and processing information were

invented over the millennia, new capabilities appeared, and people became
empowered. The invention of the printing press by Johannes Gutenberg in the
mid-15th century and the invention of a mechanical calculator by Blaise Pascal in
the 17th century are but two examples. These inventions led to a profound
revolution in the ability to record, process, disseminate, and reach for information
and knowledge. This led, in turn, to even deeper changes in individual lives,
business organization, and human governance.The first large-scale mechanical
information system was Herman Hollerith’s census tabulator. Invented in time to
process the 1890 U.S. census, Hollerith’s machine represented a major step in
automation, as well as an inspiration to develop computerized information
systems.

One of the first computers used for such information processing was the UNIVAC
I, installed at the U.S. Bureau of the Census in 1951 for administrative use and at
General Electric in 1954 for commercial use. Beginning in the late 1970s, personal
computers brought some of the advantages of information systems to small
businesses and to individuals. Early in the same decade the Internet began its
expansion as the global network of networks. In 1991 the World Wide Web,
invented by Tim Berners-Lee as a means to access the interlinked information
stored in the globally dispersed computers connected by the Internet, began
operation and became the principal service delivered on the network. The global

19
penetration of the Internet and the Web has enabled access to information and
other resources and facilitated the forming of relationships among people and
organizations on an unprecedented scale. The progress of electronic commerce
over the Internet has resulted in a dramatic growth in digital interpersonal
communications (via e-mail and social networks), distribution of products
(software, music, e-books, and movies), and business transactions (buying, selling,
and advertising on the Web). With the worldwide spread of smartphones, tablets,
laptops, and other computer-based mobile devices, all of which are connected by
wireless communication networks, information systems have been extended to
support mobility as the natural human condition.

As information systems enabled more diverse human activities, they exerted a

profound influence over society. These systems quickened the pace of daily
activities, enabled people to develop and maintain new and often more-
rewarding relationships, affected the structure and mix of organizations, changed
the type of products bought, and influenced the nature of work. Information and
knowledge became vital economic resources. Yet, along with new opportunities,
the dependence on information systems brought new threats. Intensive industry
innovation and academic research continually develop new opportunities while
aiming to contain the threats

The main components of information systems are computer hardware and

software, telecommunications, databases and data warehouses, human
resources, and procedures. The hardware, software, and telecommunications
constitute information technology (IT), which is now ingrained in the operations
and management of organizations.

2.5 FINANCIAL MANAGEMENT

Financial Management means planning, organizing, directing and controlling the

financial activities such as procurement and utilization of funds of the enterprise.
It means applying general management principles to financial resources of the
enterprise.

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Scope/Elements

Investment decisions includes investment in fixed assets (called as capital

budgeting). Investment in current assets are also a part of investment decisions
called as working capital decisions.

Financial decisions - They relate to the raising of finance from various resources
which will depend upon decision on type of source, period of financing, cost of
financing and the returns thereby.

Dividend decision - The finance manager has to take decision with regards to the
net profit distribution. Net profits are generally divided into two:

Dividend for shareholders- Dividend and the rate of it has to be decided.

Retained profits- Amount of retained profits has to be finalized which will depend
upon expansion and diversification plans of the enterprise.

To ensure optimum funds utilization. Once the funds are procured, they should be
utilized in maximum possible way at least cost.

To ensure safety on investment, i.e, funds should be invested in safe ventures so

that adequate rate of return can be achieved.

To plan a sound capital structure-There should be sound and fair composition of

capital so that a balance is maintained between debt and equity capital.

Functions of Financial Management

a. Estimation of capital requirements: A finance manager has to make estimation

with regards to capital requirements of the company. This will depend upon
expected costs and profits and future programmes and policies of a concern.
Estimations have to be made in an adequate manner which increases earning
capacity of enterprise.

b. Determination of capital composition: Once the estimation have been made,

the capital structure have to be decided. This involves short- term and long- term

21
debt equity analysis. This will depend upon the proportion of equity capital a
company is possessing and additional funds which have to be raised from outside
parties.

c. Choice of sources of funds: For additional funds to be procured, a company has

many choices like-

* Issue of shares and debentures

* Loans to be taken from banks and financial institutions

* Public deposits to be drawn like in form of bonds.

* Choice of factor will depend on relative merits and demerits of each source and
period of financing.

d. Investment of funds: The finance manager has to decide to allocate funds into
profitable ventures so that there is safety on investment and regular returns is
possible.

e. Disposal of surplus: The net profits decision have to be made by the finance
manager. This can be done in two ways:

f. Dividend declaration - It includes identifying the rate of dividends and other

benefits like bonus.

g.Retained profits - The volume has to be decided which will depend upon
expansional, innovational, diversification plans of the company.

* Management of cash: Finance manager has to make decisions with regards to

cash management. Cash is required for many purposes like payment of wages and
salaries, payment of electricity and water bills, payment to creditors, meeting
current liabilities, maintainance of enough stock, purchase of raw materials, etc.

* Financial controls: The finance manager has not only to plan, procure and utilize
the funds but he also has to exercise control over finances. This can be done
through many techniques like ratio analysis, financial forecasting, cost and profit
control, etc.

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2.7 CHAPTER SUMMARY

In summary, Management Information System plays a major role in many

organizations and companies. Management Information System aids workflow in
a business environment. Informations can be easily accessed,easily computed and
retrieved if lost.

CHAPTER THREE

3.0 RESEARCH METHODOLOGY

3.1 AREA OF STUDY

Zenith Bank Plc,Fagba Branch,founded in Lagos State. Thus it is the area of the
study.

3.2 RESEARCH DESIGN

Research designs are perceived to be an overall strategy adopted by the

researcher whereby different components of the study are integrated in a logical
manner to effectively address a research problem. In this study, the researcher
employed the descriptive survey research design. This is due to the nature of the
study whereby the opinion and views of people are sampled.

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3.3 POPULATION OF THE STUDY

According to Udoyen (2019), a study population is a group of elements or

individuals as the case may be, who share similar characteristics.The emphasis on
study population is that it constitutes of individuals or elements that are
homogeneous in description. This research was carried out on the Impact of
Management Information System on Financial Management.

3.4 SAMPLE SIZE DETERMINATION

A study sample is simply a systematic selected part of a population that infers its
result on the population. In essence, it is that part of a whole that represents the
whole and its members share characteristics in like similitude (Udoyen, 2019). In
this study, the researcher adopted the simple random sampling (srs.) method to
determine the sample size.

3.5 RESEARCH INSTRUMENT AND ADMINISTRATION

The researcher purposively selected 15 staff members of Zenith Bank Plc,Fagba

Branch. The research instrument used in this study is the questionnaire. A 15
minutes’ survey containing 9 questions were administered to the enrolled
participants. The questionnaire was divided into two sections, the first section
inquired about the responses on Sex, Educational Background and Working
Experience; while the second section were in line with the study objectives, aimed
at providing answers to the research questions. The research instrument
(IMSOAO) was administered to the staffs of the selected organization.

3.6 METHOD OF DATA COLLECTION

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Primary and secondary sources of data collection were used. The primary sources
include Questionnaires while the secondary sources include journals, internet,
published and unpublished articles.

3.7 METHOD OF DATA ANALYSIS

The responses were analyzed using percentage tables, which provided answers to
the research questions. And the hypothesis tests were carried out.

CHAPTER FOUR

4.0 DATA PRESENTATION AND ANALYSIS

4.1. DATA PRESENTATION

Table 1.: Distribution of Respondents on Sex Basis

Options of Sex No of Respondents Percentage

Male 8 53.3%

Female 7 46.7%

Total 15 100%

Table 1: Above indicate that 53.3% of the respondents in this

survey were males and 46.7% were females.

Table 2: Showing Respondents View on Educational

Qualification

Educational Background No of Respondent Percentage

Bsc 10 66.7%

25
Msc 3 20%

Phd 2 13.3%

Total 15 100%

Table 2 above indicates the educational background of the

respondents, 66.7% of the respondents are Bsc holders, 20% are Msc

holders, 13.3% are PhD holders.

Table 3: Distribution of Respondents Working Experience

Working Experience No of Respondents Percentage

6months - 1yr 1 6.7%

2-5years 7 46.7%

5-10years 5 33.3%

10yrs and Above 2 13.3%

Total 15 100%

The above table indicates the working experience of the

respondents. One of the respondents is within six months – one year

26
of experience, 46.7% fall within 2 – 5 years, 33.3% within 5 – 10

years, 13.3% 10 years and above.

4.2 ANSWERING RESEARCH QUESTIONS

Question 1: Management Information System has a profound contribution on our
Financial Management?
Table 4: Respondent on question 1

Statement Yes No

Management Information 15 0
System has a profound
contribution on our
Financial Management

Percentage Total 100% 0

From the responses obtained as expressed in the table above, all the respondents
constituting 100% said yes to all the options provided.

Question 2: Management Information System has made decisions leading to the

achievement of the organizational Financial Objectives attainable?

Table 5: Respondent on question 2

Statement Yes No

Management Information 13 2
System has made
decisions leading to the
achievement of the
organizational Financial

27
objectives attainable

Percentage Total 86.7% 13.3%

From the responses obtained as expressed in the table above, 86.7% respondents
said Yes and 13.3% said No to the option provided

Question 3: Management Information System has greatly improved the

effectiveness in Financial Management?
Table 6: Respondent on question 3

Statement Yes No

Management Information 15 0
System has greatly
improved the
effectiveness in Financial
Management

Percentage Total 100% 0

From the responses obtained as expressed in the table above, all the respondents
constituting 100% said yes to the option provided.

Question 4: Management Information System has contributed to the

development in Financial Management?
Table 7 Respondent on question 4

Statement Yes No

Management Information 11 4
System has contributed
to the development in
Financial Management

Percentage Total 73.3% 26.7%

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From the responses obtained as expressed in the table above, 73.3% of the
respondents is constituting Yes,26.7% said No to the option provided.

Question 5: The Application of Management Information System has improved

Financial Management Operations
Table 8: Respondent on question 5

Statement Yes No

The Application of 12 3
Management Information
System has improved
Financial Management
Operations

Percentage Total 80% 20%

From the responses obtained as expressed in the table above, 1respondents

constituting 75% said yes. 5 respondents constituting 5% said no. While the
remain 6 respondents constituting 20% were undecided.

Question 6: The Overall Impact of Management Information System on Financial

Management has been beneficiary to the economy

Table 9: Respondent on question 6

Statement Yes No

The Overall Impact of 10 5

Management Information
System on Financial
Management has been
beneficiary to the
economy

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Percentage Total 66.7% 33.3%

4.3 TESTING OF HYPOTHESIS

The Impact of Management Information System on Financial Management

The hypothesis formulated for this research are the null

Hypothesis and Alternate Hypothesis.

The acceptance of rejection of this hypothesis is dependent on

this testing.

The hypothesis is thus:

Ho: MIS has no impact on Financial Management.

H1: MIS has an impact on Financial Management

Tables Favourable Unfavorable Total

4.4 15 0 15

4.5 13 2 15

4.6 15 0 15

4.7 11 4 15

4.8 12 3 15

4.9 10 5 15

Total 76 14 90

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Favourable = 76/90*100. Unfavorable= 14/90*100

= 84.4%. = 15.5%

The calculation above gives a response of 84.4% in support of

Alternate hypothesis which stated that Management Information

System has an overall impact on the Financial Management while the Null

hypothesis has been supported by 15.5 % of the respondents.

Thus, the Alternative hypothesis is accepted based on the proof

above, and the Null hypothesis is rejected.

4.4 SUMMARY OF FINDINGS

In finding out the Impact of Management Information System on Financial

Management,case study of Zenith Bank Plc,Fagba Branch, it is evident from

the analysis in 4.3 that 84.4% viewed the impact as positive, 15.5%

viewed it as a negative impact. Apparently, we can come to a conclusion that

MIS has an overall impact on Financial Management.

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CHAPTER FIVE

5.0 SUMMARY, CONCLUSIONS AND RECOMMENDATIONS

5.1 Introduction
This chapter summarizes the findings into the assessment of the impact of
Management Information System on Financial Management in an organization
using Zenith Bank Plc, Fagba as case study”. The chapter consists of summary of
the study, conclusions, and recommendations.

5.2 Summary of the Study

The topic of this project work “The Impact of Management Information

System on Financial Management” with a Case Study of Zenith Bank
Plc,Fagba Branch

In the previous chapters, the researcher explained in details the

meaning of Management by eminent authors,History of Zenith Bank Plc,

Information System, Financial Management and it's functions e.t.c

Chapter three of this work dealt with sampling procedures,

research method used in collection of data and also the

instruments used in the analysis and presentation of data. In this

regard, 15 respondents for 9 questions in the questionnaires which were

issued,who are staff members of Zenith Bank Plc, Fagba Branch.

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Chapter four analyse and presented data collected from

questionnaires issued in tabular form and also test the hypothesis

formulated in chapter one for this research work. There were

numerous findings that were made after the whole analysis which has given a

presentation conclusion.

5.3 Conclusions
From the study analysis, it was concluded that Management Information System
has an impact on the overall performance of an organization. More so, the area
focused in this study was the Financial Management. The study explained the
impact of MIS using Alternative and Null Hypothesis and the analysis came to a
conclusion that MIS is very important to every organisation and it's one of the
mechanism that ensures the survival of every organisation.

5.4 Recommendations
Based on the responses obtained, the researcher proffers the following
recommendations:
1. From the analysis,seeing how much impact Management Information System
has on their Financial Management,I would implore that more effort should go
into that aspect because it would further be advantageous not just to the
Financial Management but also help improve customer services and boost
Banking operations as a whole.
2. Secondly, Professional could be employed who would specialize soley on this
and strategically draft out more ways Management Information System can
better the Financial Management of the organisation.
3. Thirdly,companies should establish a record keeping system tailored to
maintain its management information.

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4. Finally,I therefore recommend the use of the management information system
in investment appraisal, prospective investor, merger and acquisition, valuation of
business, company tax computation and finally on employee and business
valuation evaluation also for effectiveness and efficiency.

Furthermore,It is highly suggested that research should investigate on how

Management Information system affect business organization, positively or
negatively so as to know the rate at which the organization is performing with or
without MIS. The uniqueness of this would show the need of Management
Information System in bank and any business organization.

REFERENCES

Management by Eminent Authors such as;

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LAWRENCE A APPLEY;

JOSEPH MASSIE;

GEORGE R TERRY;

JAMES L LUNDY;

PETER F. DRUCKER
KENNETH SYLEDON

Udoyen (2019)

Population Study

Belassi and Tukel 1996

Information System

Spathis et al.., 2007

Management Information System

Baccanni 1999

Information System

Lewis 2004

Information System

Hjelt and Bjok 2007

Information System

Gray 2000

Human Resources Management Information System

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