THE IMPACT OF GLOBALIZATION ON THE MANAGEMENT OF BUSINESS IN THE RURAL COMMUNITIES OF NIGERIA

19

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 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 text books, journals and publications.

The main instrument used in collecting data was 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 on 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 enterprise through the provision of modern production technique, foreign raw material and financial assistance.

Similarly the study revealed that globalization influences growth, and enhances management skills of the SME’s.

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.