Academic literature on the topic 'Nigerian Business Environment'

A reported eighty-five percentage failure rate of SMEs in Nigeria before five years of operation was ascribed to a lack of knowledge of the market environment. Hence, this study investigated the moderating effects of the Nigerian market environment on the relationship between management success determinants and SMEs’ performance to see how the environment has affected SMEs’ performance. The study employed a survey research design, the population of the study comprised chief executive officers (CEOs) of registered SMEs, and a sample size of 1,102 was used. Probability sampling methods of stratified, proportionate, and random sampling were adopted. Responses were collected through a predetermined set of questions and a self-administered questionnaire. Data were analyzed using descriptive and inferential statistics. The study found that the Nigerian market environment had moderating effects on the relationship between management success determinants and SMEs’ performance (R = 0.817, R2 adjusted = 0.664, R2 change = 0.041, and Fchange = 19.694 at ρ = 0.000), most of the Nigerian market environment’s components have significant moderating effects on all the management success determinants relationship with SMEs’ performance; management skills (β = 0.220, 0.182; ρ < 0.05), innovation (β = 0.147, 0.135; ρ < 0.05), operating system (β = 0.083, 0.061; ρ < 0.05), organizational structure (β = 0.290, 0.303; ρ < 0.05), business reporting system (β = 0.142, 0.137; ρ < 0.05), system flexibility (β = 0.110, 0.107; ρ < 0.05), environmental scanning (β = 0.091, 0.062; ρ < 0.05). Only decision-making is not statistically significant (β = 0.037, 0.004; ρ > 0.05). These imply that Nigerian SMEs’ decisions under intense environmental turbulence are mostly ineffective, and the effects of management success determinants in facilitating performance were also drastically reduced as well as firms’ system flexibility. The study has a practical value of identifying the effect of the Nigerian market environment on the relationship between management success determinants and SMEs’ performance, thus revealing the gaps in the Nigerian SMEs’ management factors. Acknowledgment(s)To Small and Medium Enterprises Development Agency of Nigeria and Small Scale Enterprises Association of Nigeria for their support in ensuring participation of their members.

The declined customer loyalty and low competitive spirit confronting Nigerian owned SMEs when compared to their foreign counterparts operating under the same business environment have been an issue of concern for scholars and practitioners. The main thrust of this study is to evaluate the role of organizational cultural intelligence and corporate reputation on customer loyalty. A survey questionnaire was retrieved from 250 businesses owned by Nigerian (other than the natives of the place of operation) and Non-Nigerians operating in Plateau State Nigeria, and from 335 customers of these businesses as well. The data collected was analyzed using Smart-PLS 3.2.7 Software to determine the direct relationship between Organisational Cultural Intelligence and Customer loyalty and the indirect relationship through the intervening role of corporate reputation. The results revealed the relationship between organizational cultural intelligence and customer loyalty as positive but insignificant. While corporate reputation mediates the relationship between organizational cultural intelligence and customer loyalty. We further discussed the theoretical and practical implications as well as a recommendation for future studies. We inferred that Organisational CQ and Corporate reputations are important predictors and mechanisms to understanding customer loyalty among SMEs in Nigeria.

The small business sector plays a vital role in the economic development, upliftment and job creation of any third world country, and even more so in Africa. Small and Medium Enterprises (SMEs) have underperformed over the past years and therefore have not contributed their expected roles in the growth and development of the Nigerian economy. This can and may lead to unethical behaviour and questionable practices which speak of moral decay something that Africa, in general, and Nigeria, specifically, has been accused of. The performance and ethical behaviour of Nigerian SMEs have been of great concern to numerous individuals, parties and organisations (Onugu, 2005:8). Since managers decisions impact organisational goals and behaviours, this research aims to determine whether a sense of moral behaviour will have an influence on the concern for ethical misconduct in the Nigerian business environment by examining the relationship between Moral Behaviour and the Concern for Ethical Dilemmas/Misconduct. The research followed a quantitative approach. Results indicated that there is a fine line between what is perceived as being morally wrong or unethical and that, in many instances, the focus is rather on future existence of the business and not really on the ethical issues involved. The study confirms that there is a medium to strong relationship correlation between sense of ethical concerns and immoral behaviour in the Nigerian small business environment. The hypothesis (H0: Entrepreneurs who have an acute sense of moral behaviour are concerned about ethical misconduct/dilemmas in the business environment) is therefore accepted.

This article examines whether the degree of religiosity in an institutional environment can stimulate the emergence of a robust corporate governance system. This study utilizes the Nigerian business environment as its context and embraces a qualitative interpretivist research approach. This approach permitted the engagement of a qualitative content analysis (QCA) methodology to generate insights from interviewees. Findings from the study indicate that despite the high religiosity among Nigerians, religion has not stimulated the desired corporate governance system in Nigeria. The primary explanation for this outcome is the presence of rational ordering over religious preferences thus highlighting the fact that religion, as presently understood and practiced by stakeholders, is inconsistent with the principles underpinning good corporate governance.

The goal of berthing Nigeria's full-scale industrial revolution is yet to be achieved. All the industrial development plans have so far failed to accelerate the nation's industrialization, hence the country's low industrial base which has kept her in the league of developing nations. In fact, Nigeria has in recent times been experiencing deindustrialization, as several industries have collapsed and some others, such as Unilever and Michelin, have relocated to other countries. Several factors are responsible for Nigeria's low industrial development and they include: inadequate infrastructure (particularly, energy), poor technological base, multiple taxes and levies, and, the shortage and high cost of foreign exchange. Despite a growing body of literature on industrialization in Nigeria, not much has been written about the link between Public Service Reforms and industrialization in Nigeria. This paper examines the link between the implementation of Service Compact (Servicom) Charter and the achievement of Nigeria's industrial development policies, especially the 'Ease of Doing Business' Policy. The paper makes the case that the goal of industrializing Nigeria will not be possible without an efficient Public Service. Furthermore, the paper highlights the need for Nigerian public servants to have the right work attitude, and to be morally upright and patriotic, in order to create a business-friendly environment and to build investor confidence, so as to facilitate and accelerate the country's industrialization and overall national development. The author recommends that the Nigerian government should strengthen the implementation of the Servicom charter and also incorporate the charter into the industrialization plan.

This paper examines the impact of profitability on the financial leverage of firms operating in an unstable macroeconomic environment such as Nigeria. Using fixed and dynamic panel models, it finds consistent evidence that the profitability of a firm significantly and negatively affects its short-term debt, but not its long-term debt capital. It attributes this to the unstable nature of the Nigerian business environment and the relative inefficiency of its financial markets. It signals that Nigerian firms could be over-relying on short-term debt and external equity to fund long-term investments – a trend that is capable of increasing cost of capital to a level above any plausible limit.

Since the turn of the century, there has been a growth in the use of e-business by both large and small companies worldwide, a trend that has been given further impetus by the move to online trading in the COVID-19 pandemic era. For small companies, there are the potential benefits of increased efficiencies and market share gain, associated with the re-engineering of selling and marketing processes; but in developing countries, such as Nigeria, research into how small businesses are using e-business systems and technologies is limited. This article builds upon earlier case study research in the Nigerian small business sector to develop a framework for e-business strategy development, implementation and review. Using an inductive approach, data was collected from six small businesses, using interviews and questionnaires, to profile the e-business operations of these companies. This study found that e-business strategy was generally lacking in these companies, but interview material was used to support the development and validation of the strategy framework, which provides a process and a checklist for small businesses pursuing e-business initiatives in developing world environments.

Purpose This paper aims to advance cooperation and collaboration as solutions to problems in the Nigerian hospitality industry. The issues and challenges plaguing the hospitality industry in Nigeria are discussed in the context of the case company, a small independent restaurant in Lagos. Design/methodology/approach Phenomenological research strategies guided the approach to this study. The authors identified a specific problem and gathered information, primarily through one-on-one interviews and a focus group, to learn how individuals within a defined industry experienced the ramifications of the phenomenon. Findings The operating environment of the hospitality sector in Nigeria has an effect on the supply of skills and the financial performance of the case restaurant and similar hospitality businesses. To improve overall performance of the industry, private-public partnerships between government agencies, hospitality colleges and hospitality businesses, strategic partnerships between expert hospitality institutions and business schools, cooperation among hospitality business owners and improvement in managerial practices could be strategic moves for an industry operating under heavy institutional hindrances peculiar to Nigeria. Research limitations/implications The authors analysed the environmental trickle-down effect that could impact the profits of the restaurant. Organisational qualities such as leadership styles, the psychology of employment and the operations or policies of the company are not viewed in this context. The issues of the restaurant and a few hospitality businesses in Lagos were flagged as a representation for the industry in Nigeria. Practical implications Predisposing factors contributing to the attributed negative trickle-down effect on the enabling business environment for the industry, strategic partnerships, attaining high standards for curriculum development at educational institutions and enhanced training, with the goal of assuring creditable skills within the hospitality industry. Originality/value This paper is among the first to examine the critical issues, challenges and opportunities facing the hospitality industry in Nigeria.