The Role of International Business Operations and the Impact of the Political Environment in Nigeria

A Conceptual Framework Study based on the Banking and Oil Industries

by Olufemi A. Akintunde

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Synopsis

This study investigated whether known international business theories available in the literature are meaningful enough to explain the role of international companies in Nigeria. The research examines factors that are likely to influence Nigeria's cultural and ethical values, or contributes to Nigeria's socio-economic development and prosperity. Questionnaires were distributed in four major cities of Nigeria to 600 international companies' customers in four separate shopping malls; all the questionnaires were collected back. This represents a total response rate of 100 percent, which is adequate for this study.

The study found that critical factors such as socio-economic development and cultural issues impede the contributions of international companies in Nigeria. The study found that international companies are the main contributor to environmental pollution in Nigeria. The respondents perceived the contributions of international companies to the Nigeria's socio-economic developments and prospective as significant and positive. However, they also perceived that there is no significant difference in factors likely to influence Nigeria's culture and ethical values.

The study also found that understanding cultural values and ethical values is important for international companies. The results indicate that success of international business operating in Nigeria is positively related to their local cultural awareness and responsiveness. Along this line, this study covers some vital elements of culture and ethic, which will help international business companies understand further the cultural needs, values social responsibilities.