BASIC ISSUES INVOLVED IN BUSINESS AND THE STRATEGIC INTENT
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BASIC ISSUES INVOLVED IN BUSINESS AND THE STRATEGIC INTENT
Chapter one
1.1 Introduction
As countries work to realise political independence, the concept of economic self-reliance evolves in meaning and purpose. This is true for the Nigerian scenario.
This economic self-sufficiency cannot be attained in an economy dominated by foreign capital, particularly foreign entrepreneurs. This would lead to the repatriation of resources required for indigenous economic development to foreign countries.
In an effort to reduce the weight of the nation’s reliance on foreign countries and foreign entrepreneurs, the Federal Government of Nigeria has designed and implemented a number of strategies to provide her citizens with the necessary skills, a favourable environment, and financial assistance to create wealth.
Individuals have bravely accepted the risk of entrepreneurship in order to assist and strengthen the realisation of an independent economy. Unfortunately, they lack the necessary skills and knowledge to drive this process.
The small company sector’s low productivity is one of the factors contributing to the country’s over-reliance on foreign economies. This research focuses on emphasising strategic management approaches that will help small businesses grow.
To do this, we will concentrate on the hierarchy of strategic intent in the strategic management process. This is the missing variable in Nigerian small businesses’ “Modus Operandi” (mode of operation).
1.1.1 Background of the Study
Diagram of the Earth at night.
The diagram above is made up of hundreds of satellite photographs of the world collected at night and published by two researchers in 2002 (Michael and Stephen, 2003:9).
Some areas of this image suggest that highly developed countries, such as the European Seacoast, the Eastern United States, Eastern China, and Japan, are lit up at night. Whereas Africa, the poorest region, is predominantly dark. (Michael and Stephen 2003:9). This nightlight is man-made.
Analysing the causes of these disparities reveals that the volume and form of human activity in various economies vary greatly.
Nigeria is one of Africa’s largest nations, with a population of more than 130 million. Despite all of the Laurels she has gotten for her contributions to the stability of other nations, she continues to suffer from the horrible affliction, POVERTY. This is due to inadequate management of physical and human resources, rather than a lack of them.
The vast majority of the country’s population has an extremely low standard of living. This applies not only to her counterparts in wealthy countries, but also to small elite circles inside her own society.
This low standard of living manifests itself statistically and qualitatively in the form of low income (poverty), restricted education, short life and work expectancies, a high newborn mortality rate, inadequate housing, and, in many cases, a pervasive sense of malaise and hopelessness.
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