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The Impact of Globalization on the Management of Business in the Rural Communities of Nigeria

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The Impact of Globalization on the Management of Business in the Rural Communities of Nigeria.

ABSTRACT

This study is based on the determination of the impact of globalization on the management of business in the Rural Communities of Nigeria. This is against the background of the need for entrepreneurship development propelled by the interdependence of the world economies.

The problem of the study is therefore to determine the impact of globalization on the management of business in rural communities of Nigeria. The objective of the study is to determine the impact of globalization on the growth of rural businesses.

To this end, data were gathered from both primary and secondary sources. The primary sources comprised of descriptive survey method, while the secondary sources were textbooks, journals, and publications.

The main instrument used in collecting data was a questionnaire. The data were then presented in a table as frequency distribution.

The technique of frequency and percentage were applied in analyzing the data, and the following were the major findings of the study.

The study revealed that globalization impacts small and medium enterprises in the areas of production technology, provision of raw materials, marketing, international financial assistance, and scale of output.

Globalization also affects the performance of small & medium enterprises through the provision of modern production techniques, foreign raw materials, and financial assistance.

Similarly, the study revealed that globalization influences growth, and enhances the management skills of SMEs. Some of the recommendations made by the researcher are that trade should be liberalized and trade barriers removed to allow free global business and national economies unification.

The conclusion drawn is that globalization impact positively on small and medium enterprises’ performance, through technological and economic innovation.

TABLE OF CONTENTS

TITLE PAGE …………………………………………………………….i
CERTIFICATION ……………………………………………………….ii
APPROVAL PAGE …………………………………………………….iii
DEDICATION ………………………………………………………….iv
ACKNOWLEDGEMENT ……………………………………………… v
ABSTRACT …………………………………………………………… vi
TABLE OF CONTENTS ……………………………………………… vii
LIST OF TABLES……………………………………………………… xi

CHAPTER ONE INTRODUCTION

· Background of study …………………………………………….1
· Statement of problem ……………………………………………2
· Objective of the study ……………………………………………3
· Research Questions ………………………………………………4
· Hypotheses ………………………………………………………5
· Significance of the study …………………………………………6
· Scope of the study ………………………………………………7
· Limitation of the problem ……………………………………….7

CHAPTER TWO LITERATURE REVIEW

2.1 Definition and meaning of globalization …………………….9
2.2 Agents of globalization ………………………………………11
2.2.1 International Trade ……………………………………………11
2.2.2 International Finance ………………………………………….12
2.2.3 Capitalism …………………………………………………….13
2.2.4 Technological Innovation …………………………………….13
2.2.5 International Regulations ……………………………………..14
2.3 Definition of Small and Medium Scale Enterprise ……………14
2.4 Anatomy of Small and Medium Enterprises ………………….19
2.5 The Role of Small and Medium Enterprises ………………….22
2.6 Problems of Small Scale Industries …………………………….23
2.7 Impact of Globalization on Small and Medium Enterprises…..25

CHAPTER THREE RESEARCH METHODOLOGY

3.1 Research Design ………………………………………………30
3.2 Area of Study ………………………………………………….30
3.3 Source of Data …………………………………………………31
3.3.1 Primary Sources …………………………………………….. 31
3.3.2 Secondary Sources ……………………………………………31
3.4 Population …………………………………………………….31
3.5 Sample and Sampling Techniques ……………………………31
3.6 Instrument for Data Collection ……………………………….32
3.7 Data Analysis …………………………………………………33

CHAPTER FOUR

4.1 Data Presentation and Analysis ……………………………….34
4.2 Test of Hypothesis …………………………………………….50

CHAPTER FIVE SUMMARY, CONCLUSION, AND RECOMMENDATIONS

5.1 Summary of Finding …………………………………………57
5.2 Conclusion ……………………………………………………57
5.3 Recommendations …………………………………………….58
Bibliography …………………………………………………..60
Appendix ………………………………………………………64

INTRODUCTION

1.1 Background of the Study

Globalization refers to increasing global connectivity, integration, and interdependence in the economic, social, technological, cultural, political, and ecological spheres.

Globalization is an umbrella term and is perhaps best understood as a unitary process inclusive of many sub-processes (such as enhanced economic interdependence, increased cultural influence, rapid advances of information, technology and novel governance and geopolitical challenges) that are increasingly binding people and the biosphere more tightly into one global system.

 

In economics, globalization is the convergence of prices, products, wages, rates of interest, and profits towards developed country norms.

Globalization of the economy depends on the role of human migration, international trade, movement of capital, and integration of financial markets.

The international monetary funds note the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions, free international capital flows, and more rapid and widespread diffusion of technology.

BIBLIOGRAPHY

Adebusiyi, B (2005) “Appraisal of Contribution of SMEs to the Nigerian Economy “Buttion. Vol. 22 No 8.
Adei, S (2004) “Impact of Globalization on Management “Management in Nigeria Vol. 39 No 2.
Agu, P (2001) Small Business Management Obosi: Pacific Publishers.
Amadi, S (2002) “Small and Medium Enterprises Development in Nigeria. “Management Journal” Vol. 12 No. 2
Animat, K (2002) “The Impact of Globalization on Industrial Production” The Economist Oct – Dec.
Bannok, C (2003) “Entrepreneurship Development. London: cassel.
Central Bank of Nigeria (1991) “Definition of Small and Medium Enterprises “Economic Review Vol. 30 N2
Daly, V (2007) “Trading in Globalized Economies Post Express. Monday June 22.

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