Research Title: Effects of Globalization on Small and Medium-scale Businesses in Nigeria
1.0 Introduction
Technological advancement has facilitated communication, transportation, and socioeconomic interaction across the globe. Consequently, the technological dynamics have gradually transformed the world into a global village and most activities are carried out in real-time. This phenomenon is referred to as globalization. Globalization has advanced businesses operations by influencing faster startups and real-time control of operations. Consequently, most business people can manage, monitor, and control their businesses from anywhere across the global network. Nigeria’s Lagos capital, being an economic hub, has significantly benefited from globalization, where most businesspersons have established small, easy-to-learn businesses. Most small businesspeople use the reliable communication network to manage operations, communicate with their clients, and promote their products and services across the global market. Globalization has developed business communication approaches, facilitated real-time operations, and expanded the market, and personalized client-based services.
1.2 Aims of the Research
1.3 Background of the Study
Globalization has led to the advancement of small and medium sized businesses in Nigeria and most developing countries. This phenomenon is, for instance characterized by the outcrop of SMEs in Nigeria is largely attributed to globalization. Apparently, the world has been transformed into a global village, courtesy of globalization. Scherer & Palazzo (2011) observes that technology policies, advanced competition in the global market are responsible for the current advancement in business growth Nigeria. Businesses has benefited from technological development in major cities in Nigeria.
According Lal (2007), globalization integrates businesses, clients, and governments across the globe and makes it to run the business operations in real time. The ability to monitor business operations and implement decisions at the same time makes it easier to establish business startups. Consequently, individuals or fewer investors establish most businesses because they require little capital. Oluyemisi (2012) asserts that globalization has simplified business operations; hence, it is easier for many people to establish businesses and monitor operations.
Communication is an important approach in business development because it facilitates the manner in which operations are run and further enhances continuity among the key stakeholders in the business. According to Oluyemisi (2012), businesses with the best communication platforms in Nigeria have the most loyal clients whose loyalty is rooted on their ability to maintain a close relationship with the organization. The communication has enabled the organization to promote its products across the global (Bada, 2002; Nagle, 2008). Consequently, most organizations have access to the global market, yet minimal organizational procedures are required.
1.4 Research Questions
Is there any relationship between globalization and the development of small and medium-sized businesses in Nigeria
Is there a correlation between technological advancement and the advancement of small and medium-sized businesses in Nigeria?
Hypothesis
H1: Technological advancement promotes the advancement of small and medium-sized businesses
H2: Globalization influences the advancement small and medium-sized businesses
1.5 Research Methodology
This section illustrates the research philosophy, research design, and the strategic approach that will be used to carry out the study. This section illustrates the sampling techniques used, data collection procedures, and research concerns likely be involved in the study. The validity and reliability of the data collected will also be illustrated in the research.
1.5.1 Research Design
Research design entails the design purposes and framework that will be used to carry out the study. The research design enables the researchers to understand the requirements of the study, which enables them to refocus on the research questions within the time required to complete study. Using exploratory research design, this research will identify, clarify, and illustrate the issues of concern in the research (Creswell & Clark, 2007). Following the findings, this research design, develops and establishes the most appropriate actions that will help attain the requirements of the research. Exploratory research outlines possible approaches that have been used to carry out the study, if these approaches are viable in the current research, and the most viable implementation approach.
1.5.2 Sampling Techniques
Snowballing sampling will be used to reach specific business owners in the organization. The research team will reach respondents from their specific business premises. The respondents will be given the opportunity to choose if they want to be interviewed or fill a questionnaire. According to Salganik and Heckathorn (2004), snowballing techniques are preferred for customized research because the respondents are compelled to provide reliable information with the hope that this research will improve their experiences in the particular field (Idoro, 2004).
1.5.3 Data Collection
Questionnaires and structured interviews will be used to collect data from a randomly sampled areas within major cities in Nigeria. Questionnaires will have a series of questions aimed at obtaining quantitative data from the study. Questionnaires will be randomly administered among major business owners in businesses in Lagos, Nigeria. Lagos is a viable location because it is advanced and has many business establishments. This approach will make it possible to obtain reliable information from the study. Questionnaires convenient to use and are effective for respondents that have no time for interviews.
1.5.4 Methodology Rationale
Structured interviews will be used to obtain the attitude and sentiments of the respondents from randomly selected businesses in Nigeria. Structured interviews, however time-consuming and overly tedious enable the researcher to obtain. For this study, therefore, a quantitative study will be utilized in the study. Questionnaires are easy to administer and because they can be randomly completed without extensive interactions with the respondents. The current advancement in technology makes it possible to develop online surveys for the respondents.
1.6 Resources & Planning
A Gantt chart will be used to give the plan through which the study will be completed. After the completion of research proposal, literature survey, the research team will prepare for fieldwork. Before commencing fieldwork, the research team will develop questionnaires and the schedule that will be used to execute the research study.
1.7 Ethical Considerations
Ethical procedures are very essential attributes in the data collection process. Ethical procedures are formulated to ensure that the researchers observe privacy and confidentiality during the data collection process. The researcher requires illustrating the terms and conditions and providing the assurance that the data provided will be kept private and confidential. Ethical procedures dictate that respondents should not be coerced or paid to provide information because this will influence the credibility of the information. This approach follows that the study is aimed at obtaining credible information, which is devoid of exaggeration, omission, or error. Reliability in this business emanates from the appropriateness of data collection and coordination during field research.
1.8 References
Scherer, A.G. and Palazzo, G., 2011. The new political role of business in a globalized world: A review of a new perspective on CSR and its implications for the firm, governance, and democracy. Journal of management studies,48(4), pp.899-931.
Lal, K., 2007. Globalization and the Adoption of ICTs in Nigerian SMEs. Information and Communication Technologies in the Context of Globalization (pp. 151-207). Palgrave Macmillan UK.
Bada, A.O., 2002. Local adaptations to global trends: A study of an IT-based organizational change program in a Nigerian bank. The Information Society,18 (2), pp.77-86.
Nagle, L.E., 2008. Selling souls: the effect of globalization on human trafficking and forced servitude. Wisconsin International Law Journal, 26(1).
Oluyemisi Akinola, G., 2012. Effect of globalization on performance in the Nigerian Banking Industry. International Journal of Management and Marketing Research, 5(1), pp.79-94.
Creswell, J.W. and Clark, V.L.P., 2007. Designing and conducting mixed methods research.
Idoro, G.I., 2004, November. The effect of globalization on safety in the construction industry in Nigeria. In Proceedings of International Symposium on Globalozation and Construction Bangkok, Thailand (pp. 817-826).
Salganik, M.J. and D.D. Heckathorn 2004. "Sampling and Estimation in Hidden Populations Using Respondent-Driven Sampling". Sociological Methodology 34 (1): 193–239.
