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Chapter One of An Assessment of Business Environment and Its Impact on Organizational Growth (a Case Study of Oil Down Stream in Nigeria.
Abstract of An Assessment of Business Environment and Its Impact on Organizational Growth (a Case Study of Oil Down Stream in Nigeria.)
Understanding the environment within which the business has to operate is very important for running a business unit successfully at any place. Because, the environmental factors influence almost every aspect of business, be it its nature, its location, the prices of products, the distribution system, or the personnel policies. Hence it is important to learn about the various components of the business environment, which consists of the economic aspect, the socio-cultural aspects, the political framework, the legal aspects and the technological aspects etc.
This research work assess business environment and its impact on organizational growth with special reference to Capital Oil and gas industries Nigeria. The research discussed the concept of businessenvironment, its nature and significance and the various components of the environment.
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Three hypotheses were formulated, each of the research hypotheses were all treated and accepted. The data collected were analyzed and the result of analysis revealed some of the fact relating to business environment.
However, the summary of the major finding includes the following:
- That business environment plays significant roles in the growth of an organization.
- That one of the major determinant of business environment is competitor or competition
- That government policy is a determinant of business environment
- Business environment is the sum of interrelationship within the business and between the business and society.
- The effect of business environment varies from one situation to another
- Ability to identify, evaluate and react to environment change will have considerable impact on organizational growth
- Business environment do not operate in vacuum. They must be exploited for profitability and or minimized against adverse effect.
- Nigeria oil down stream business environment have opened more opportunities for investment.
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