ABSTRACT
The high rate at which business collapse in West Africa worries the stakeholders, as many factors were discovered to be militating against the business growth in Africa. Though business failure is a possibility and fact a manager must be acquitted with, incompetence is however the major reason for business failure. The failure of management team of an organization to take strategic approach into all business decision will take a toll on the fortune of the business, in the light of this; this study is on why business fail in West Africa and was targeted on Nigeria business segment.
This thesis highlighted some relevant theoretical studies and empirical investigation which provides an analytical framework for the study of business failure in West Africa, and Globacom Nig Ltd were used as a case study, most analysis of success or failure in business institution are done on micro-basis, using in most cases optimization model. A quantitative research method, personal interview, ratio and correlation analysis were used to analyzed the success effort of Globacom Nig. Ltd. The empirical investigation shows that across the sectors 66% of new establishment were still in existence two years (2) after their start up, and 44% were still in existence four (4) years after. This survival rates do not vary much by industry.
The study shows that despite all odds most firms in the verge of collapse or threatened by failure / distress can therefore have at least hope by trying out merger and acquisition. It is also important that to reverse this business failure trend in the west Africa, individual company must maintain a competitive edge by staying abreast of industry trends.
TABLE OF CONTENTS
Thesis Abstract
Tables and figures
Abbreviations
1 INTRODUCTION
1.1 Statement of Research Problem
1.2 Objectives of the Study
1.3 Scope of the Study
1.4 Significance of the Study
1.5 Limitation of the Study
2 THEORETICAL FRAME WORK AND LITERATURE REVIEW
2.1 Introduction
2.2 Some Basic Concept of Business Institution
2.2.1 Features of Business
2.3 Types of Business Organization
2.3.1 Sole proprietorship
2.3.2 Partnership
2.3.3 Corporations
2.4 Business Laws and Regulations
2.5 Business in Nigeria
2.5.1 Setting up a Company in Nigeria
2.5.2 The Cost
2.5.3 The fees paid to lawyers
2.6 Why do business fail in West Africa
2.7 Extent and depth of failure in West Africa
2.8 Measures of failure of business
2.9 How business failure paves the way for success
3 REARCH METHODOLOGY
3.1 Introduction
3.2 Method Of Data Collection
3.2.1 Ratio And Percentage Method
3.2.2 Correlation Analysis
3.3 Data Presentation Method
3.4 Data Analysis Method
3.5 Limitation To Data Collection Method
4 BACKGROUND HISTORY OF GLOBACOM NIG LTD
4.1 Business Success Factors Of Globacom Nigeria Limited
4.2 Data presentation analysis and discussion
4.3 Data Analysis and Discussion
4.3.1 Globacom Nigeria Limited
4.4 COMPANY PERFORMANCE DETERMENTS OF RATION ANALYSIS
5 SUMMARY, RECOMMENDATION AND CONCLUSION
5.1 Summary
5.2 Recommendation
5.3 Conclusion
REFERENCES
APPENDIX
CHAPTER ONE
1 INTRODUCTION
People go into business for the purpose of making profit and be part of market competitor and controller. People sometimes talk about business burning through money and in reality business future can be like fires. Something smoldering can be difficult to spot at first, but could be easily and safely be extinguished before too much damage is done. Once there is a real blaze, the danger is much more obvious but at the same time much more difficult and dangerous to tackle as it consume everything around it.
As the old saying has it, “cash is king”, because fundamentally business fail when they run out of cash. So a real cash flow difficult is a real threat to your business very existence that calls for immediate action.
Many failures are start-up that simply do not survive their few years, either because they found there was really no market for what they doing or because with the limited resources available to a start up they were unable to surmount a problem they encountered.
While there is a high profit catastrophic failure where a business suddenly “falls off a cliff are actually quite rare and are usually due to the impact of some traumatic event such as a major fraud, lost litigation or sudden change in regulation, although some might say that management should have been looking out for these problems in advance.
By contrast, overtrading where a business grows too fast for its available finance is a relatively common cause of failures in boom times and a particular problem as an economy comes out of recession.
If a business is on the decline curve, it can be difficult to spot it at first but then the further down it goes the more its problem compound as it descends the slippery slope.
A failing business will make less profit than its competitors, even if only marginally of first. But with less profit it cannot reinvest as much into the business in new product or the latest plant and machinery. Slowly it will start to slip behind and as it loses it competition edge its market reputation and share will also fall, until it sees its first loser
What Causes Normal Business Failure?
Normal businesses failures seem to involve some mix is fire main contributing factors.
(1) Management problems which can range from autocratic dictatorship that want hotter to any view but their own bonds raven by disputes or a lack of appropriate management skills lower down in the business.
(2) Failure to deal with strategy challenger, which are inevitable fact of life for any business as it markets, customers and competitors constantly develop and change.
(3) Lack of financial control, ability to know where your cash flow is being choked which products and customers are profitable and aren’t, or even whether you are making profit at all
(4) Lack of operational control; this is ability to make use of your hard assets of plant and machinery and your soft assets of people and processes.
(5) Big projects which can disrupt business and take up cash and management time such as a huge new contract or a move, as these can prove to be the straw that camel’s back others are....
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