EFFECTS OF ENVIRONMENTAL FACTORS ON BUSINESS LOCATION
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EFFECTS OF ENVIRONMENTAL FACTORS ON BUSINESS LOCATION
Chapter one
INTRODUCTION
1.1 Background of the Study
Individuals have needs, and business organisations exist to meet the needs and desires of society. An acceptable strategy for comprehending the type of business ownership will necessitate the development of a conceptual framework for the term BUSINESS.
BUSINESS in a capitalist economy can be defined as all of the actions involved in the production and distribution of products and services for profit. This concept implies that businesses are responsible for two core human activities:
production, which involves the fabrication of physical objects using men, machines, and materials, and distribution of these products/services to consumers.
The second aspect of the definition is that all commercial organisations should strive for profitability. businesses are not benevolent organisations; businesses must generate a profit in order to thrive and continue to offer jobs for workers while also providing good returns to owners.
Functionally, business refers to human activities that entail the creation or purchase of things with the goal of selling them at a profit. Uricand Hunt defines a ‘business’ as any enterprise that manufactures, distributes, or delivers any commodity or service that other members of the community require and are prepared to pay for.
1.2 Objectives of the Study
The aims of this study are as follows:
i. Provide a basic understanding of the idea of business environment.
ii. Identify the problem posed by the effect of the business environment in an organisation.
iii. To offer solutions for environmental challenges that affect business.
iv. To propose measures to make the environment more conducive to business.
1.3 Statement of Problem
The primary goal of this study is to determine the extent to which company behaviour is influenced by its surroundings.To that purpose, the study will address a variety of specific concerns, including the following:
· Environmental impact on businesses.
· How independent economic activity is from environmental factors.
· How businesses adapt to changing environments.
· How does the company activity impact the environment?
1.4 SCOPE OF THE STUDY
The study will examine the effect and influence of the business environment on Cadbury Nigeria plc.
It will also examine the overall view of business as it applies to food and beverage enterprises in Nigeria, with a focus on the internal and external environments.
1.5 Significance of the Study
The study will assist both public and commercial organisations in realising the importance of the business environment in order to achieve higher profitability. It will also assist in resolving managerial conflicts between management and employees.
This study will also examine the problem of losses sustained by organisations that use incorrect statistics when establishing a business in an unfavourable environment, which typically leads to the failure of such companies.
The advice will help to reduce the frequency of corporate liquidations and smooth the organization’s operations, resulting in increased production and profitability.
1.6 Limitations of the Study
The researcher was unable to obtain the necessary information for the project writing since the respondents were overly secretive.
Another study disadvantage was time constraints.
1.7 Limitations of the Study
Business is an unavoidable activity in an economy. The factors influencing business location vary depending on the environment in which the target audience or markets are situated. Environmental elements affecting business location, whether precise or generalised, cannot be concluded.
To properly carry out the study assignment, the student must be friendly with the organization’s management. Limiting constraints such as a lack of collaboration from organisations to aid the researcher with information/data, as well as a lack of financial resources, have limited the researcher’s ability.
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