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EFFECT OF EXTERNAL ENVIRONMENTAL FACTORS ON SMALL SCALE BUSINESS MANAGEMENT
ABSTRACT
The purpose of this research work is aimed at viewing the effect of external environmental factors on small scale business management. The study is design to provide a comprehensive information on the effect of external environmental factors on small scale business especially how it affect the growth of the businesses in Nasarawa town. Primary and secondary data methodology was used to obtain the required information through questionnaire, interview and source document. The research findings reveals that ignorance of investors on the effect of environmental factors before investing on the business may cause business failure. The researcher therefore recommends that small scale business owners should appreciate that external environmental factor could lead to business failure or success. They should aim at achieving a way of following the changing factors in order to avoid the bad effect it could cause.
CHAPTER ONE: INTRODUCTION
1.0 INTRODUCTION
Small scale business is as old as men, because as we all know, businesses has been going on since the history of man. So, in this research work, we are going to take a good look at effects of external environmental factor on small scale business management in Nigeria.
Small scale businesses in Nigeria became more pronounced during the coming of the Europeans into Nigeria in the name of spreading the gospel on the abolition of slave trade.
The Federal Government Industrial Policy of 1989 defined a small business as “any business that its total investment is between N10,000.00 and N2 million naira exclusive of cost of land but including working capital.
Some of the external environmental factor which affects small scale business in Nasarawa state and Nigeria at large includes: physical environment factors, economic, social technological, cultural, demographical etc.
Therefore, this project work is aimed at scanning those external environmental factors properly in other to become successful in undertaking small business in Nigeria and to manage it property.
1.1 BACKGROUND OF THE STUDY
The external environmental force and nuisance experienced by small scale business are more than what meet the eyes for instance, between 1984 and 1985, the government of Buhari took street kiosk and traders by surprise when their businesses were swept away without compensation. Again between 1990 and 1992, religions riots culminated into burning and looting of businesses of native of Bauchi, Kaduna and Kano. However, the story is the same in Lagos where businesses under overhead bridges in Oshodi bus stop and other locations in Lagos fell into the hands of the federal government while businesses with telecommunications service throughout the country were closed down without prior notices to the business owners at the time when means of telecommunication were out of the common man’s labour market and deprived the poor masses of communication.
Moreover, what is more worrisome is the persistent of religions crisis that has continued to spill like wild fire with resultant effects of consuming small scale business owners and their businesses thought looting and burning. An instance an be cited at the recent ethnic and religious crisis between 1991 and 2001 which took place in Kano, Kaduna, Jos, Benue, Kogi and Nasarawa state. As we all know, the aim of small scale business management which is to create job opportunities and elimination of poverty in the economy. The external environmental factors that affects the business can be categorized via (PEST). Political Economical, Social and Technological. Since one factor can affect another factor, there is an interrelationship among them. All businesses are influenced by changes in one of the environmental factors. Some of the important changes that affect managerial decision making of small scale business are zoomed critically in this work.
1.2 STATEMENT OF THE PROBLEM
As the topic implies the effect of external environmental factors on small scale businesses. Government policies has been one of the major problem facing small scale business as well as poor implementation of its policies. The political instability in the country as a result of tribal sentiments is directed to small scale business. There are other factors like economic, social and technological factors.
1.3 THE SCOPE OF THE STUDY
This research work is restricted only on those external environmental factors that affects small scale business in Mongoes ventures Nasarawa state. It refuses to touch the internal aspects of environmental factors the emphasis is to identify the effects of these environmental factors or forces and provide possible solution to handle them.
1.4 OBJECTIVE OF THE STUDY
The general aim of this project is to examine the effects of external environmental factors on the organization performance especially small scale business operation like Mongoes ventures Nasarawa.
Some of the specific objectives are as follows:
(a) To identify the business environmental factors and how they affects the performance of business
(b) To determines ways or methods of managing external environmental factors by small business
(c) To identify and define factors to make room for stability, profitability, harmony, peace and comfort of small scale business.
1.5 SIGNIFICANCE OF THE STUDY
It is important to note that this project work is aimed at identifying the values of starting a business career without facing much problems that may come from external actors.
This project work can contribute significantly in the following:
(a) It will be of great important to government in their role of developing small business by identifying and applying environmental tools analysis
(b) Potential entrepreneurs and small business owners would appreciate the role of environment in business
(c) Researchers and students will find this project worthy while
1.6 RESEARCH QUESTION
Some of the research questions were effort shall be made to find answers to this study include the following:
(a) Does the external environmental factor have great impact on the growth of small scale business in Nigeria?
(b) Does the external factors affects the organizational productivity
(c) Does the organization manage those external environmental factors so as to achieve the organization aims and objective
1.7 RESEARCH HYPOTHESIS
Hypothesis which has been defined by various authorities to be a tentations statement, assumption of conjectural statement which can be true or not and cannot be generally accepted until when proven.
Hypothesis can be classified into two hypotheses
a) Null or negative hypothesis (Ho)
b) Alternative or positive hypothesis (Hi)
The following hypothesis will be tested in this research work.
Ho: The external environmental factor have no impact on the growth of small scale business in Nigeria
Hi: The external environmental factors have a great impact on the growth of small scale businesses in Nigeria
1.8 LIMITATION OF THE STUDY
The major limitation of this project is the difficulty in obtaining data as a usually the case with most project work. The lack of data is further compounded by the fact that the researcher has a very tight scheduled programme. For instance, time is too short for the research considering the time within which to submit the project combined with tight academic work load could not enable me to carryout wide research on the general environmental impact on small scale business.
Finance is another hitch encountered during the course of study, in adequate availability of research materials and some vital information which they called “Top Secret” in many case study Mongoes Ventures not given out which could have been of great important to the success of this work.
1.9 DEFINITION OF TERM
The definition of term used this project stated below:
§ Business:Business is any legitimate activity or activities embarked upon by an individual or group of individual or group of individuals for the production of goods and distribution of services for the satisfaction of need as and wants of the people for the purpose of making profit. (Ben A. Ogedengbe, 2007)
§ Small Scale Business: It is any business that has a total investment of between N10, 000 to N2million exclusive the cost of land but including working capital or it can be seen as any business that independently owned and managed, started with little capital and operated with few employees to produce goods and services to the people at a profit. By (Ben A. Ogedengbe, 2007)
§ Profit: It is the rewards of an entrepreneur for investing his money and time. It is also seen as the additional surplus that a business gets after deducting the entire cost incurred in the business. By (Ben A. Ogedengbe, 2007)
§ Culture: It is the total collection of people beliefs, customs, knowledge, art, moral and other attributes that are accumulated by individuals of a particular society. By (Balkin 2002:98)
§ Product: it is any tangible or intangible thing that is capable of satisfying peoples want and needs. Includes goods and services. (Ben A. Ogedengbe, 2007)
§ Technology: It means modern method applied to materials in production of goods and series it is the practical application of research and discovery which results in a bright standard of living and increase productivity. By (Onuoha 1999)
CHAPTER TWO: LITERATURE REVIEW
2.0 INTRODUCTION
In this chapter, the researcher is going to look at the various materials used in the process of embarking on the project work. In most instance, an effective manager does not only concern himself with the internal (inside) environment alone, but he must also deal with the external (outside) environment that may affect the organization in one way or the other (Bogobivi and Kassah 2009).
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SOLD BY: Excellent Project| ATTRIBUTES: Title, Abstract, Chapter 1-5 and
Appendices|FORMAT: Microsoft Word| PRICE: N5000| BUY NOW |DELIVERY
TIME: Within 24hrs. For more details Chatt with us on WHATSAPP @ https://wa.me/2348055730284
