FINANCIAL RESOURCE MANAGEMENT IN BUSINESS EDUCATION

Abstract

This study discusses Financial Resource Management in Business Education. Descriptive survey research design was adopted for this study. Two research questions guided the study and two hypotheses were formulated. The population of the study comprises 34 Business Education lecturers in two Colleges of Education in Oyo State. Instrument for the study was validated by two experts and the reliability yielded 0.89. Mean and standard deviation was used to answer the research questions while t-test statistic was used to test the null hypotheses at 0.05 level of significance. Findings revealed that Business Educators agreed on the need for efficient financial management in Business Education and they also agreed to the identified constraints to proper financial management in Business Education. The testing of the two hypotheses shows that there was no significant difference between the two groups in term of their mean ratings on financial resource management in Business Education. The study concluded that efficient financial resource management is vital for the achievement of goals of Business Education. It was recommended among others that Business Education Departments should develop strategic plan that shows the process for identifying priorities and setting goals, inform operational strategies and budget decisions for the benefit of all stakeholders.