This document provides an overview and analysis of political, economic, social, technological, and cultural factors relevant to doing business in Nigeria. It summarizes demographic trends in Nigeria, noting the young population is expected to decrease slightly over the next 20 years while those under 14 will decrease. The healthcare system is poor leading to low life expectancy. Nigeria has a growing telecommunications sector but relies on imports. There are many ethnic groups in Nigeria and racial discrimination exists, though prohibited. Religion is also an important consideration as the country is split between Muslim north and Christian south. The governments of Nigeria and Bangladesh have a bilateral relationship and are working to increase trade between the countries.
The document provides information on Nigeria, Australia, Bangladesh, and how their economies, cultures, and politics impact international business. Nigeria is a populous West African country with a federal republic government system. Its economy has seen strong growth but political instability and terrorist attacks pose risks. Australia is a developed country with a predominantly European culture. Its economy remained resilient during the global financial crisis. Bangladesh has a rapidly developing market-based economy focused on exports of textiles and garments. However, political instability and infrastructure challenges impact foreign investment. Cultural differences, economic conditions, and political environments in these countries all influence international business dealings.
Brazil is a politically and economically influential country in South America. It has a large population of 208 million people and the 9th largest economy in the world. While Brazil faces challenges like corruption and economic inequality, its middle class is growing rapidly. Brazilians highly value family and social media is widely used. Technological development is concentrated in Sao Paulo, but starting a business remains challenging due to regulations. The retail market is large at $600 billion and growing, though income inequality remains high.
Nigeria has the largest population in Africa of over 173 million people and has the second largest economy. It has a diverse landscape and over 500 languages spoken. Nigeria has a predominantly young population, with over 40% under age 15, which presents opportunities for businesses. However, companies investing in Nigeria need to consider its high power distance and collectivist culture, as well as managing its external debt and unemployment challenges. Overall, Nigeria's large market size and growing economy make it an attractive country for foreign investment.
This document provides an analysis of international markets in Chile and Tanzania for a company called Tornado that aims to sell vehicles in those countries. It includes economic, demographic, political, and SWOT analyses for each country. The document was produced by several students for a class assignment and contains detailed information on geography, population, religions, economies, transportation and more for Chile and Tanzania. It analyzes factors like each country's politics, economics, society, and technologies to understand opportunities and risks for Tornado.
The document summarizes recent economic developments in Nigeria based on new GDP data released by the Nigerian government. It finds that productivity, not population growth, has been the largest driver of GDP growth since 2010. However, Nigeria's productivity and GDP per capita are lower than comparable developing economies due to its unusual urbanization process, which has not transformed the economy through migration from agriculture to more productive manufacturing and services jobs. Strengthening government capabilities will be important to ensuring future growth is more inclusive.
AFRICA - Nigeria's renewal - McKinsey & CompanyOliver Grave
The document discusses Nigeria's recent reclassification as Africa's largest economy based on new GDP data released in 2014. It notes that Nigeria's GDP growth since 2010 has been driven more by productivity than population growth, but that weaknesses in agriculture and urbanization have prevented most Nigerians from benefiting. It argues that strengthening government capabilities will be essential to making growth more inclusive and achieving better social outcomes.
The document provides information on Nigeria, Australia, Bangladesh, and how their economies, cultures, and politics impact international business. Nigeria is a populous West African country with a federal republic government system. Its economy has seen strong growth but political instability and terrorist attacks pose risks. Australia is a developed country with a predominantly European culture. Its economy remained resilient during the global financial crisis. Bangladesh has a rapidly developing market-based economy focused on exports of textiles and garments. However, political instability and infrastructure challenges impact foreign investment. Cultural differences, economic conditions, and political environments in these countries all influence international business dealings.
Brazil is a politically and economically influential country in South America. It has a large population of 208 million people and the 9th largest economy in the world. While Brazil faces challenges like corruption and economic inequality, its middle class is growing rapidly. Brazilians highly value family and social media is widely used. Technological development is concentrated in Sao Paulo, but starting a business remains challenging due to regulations. The retail market is large at $600 billion and growing, though income inequality remains high.
Nigeria has the largest population in Africa of over 173 million people and has the second largest economy. It has a diverse landscape and over 500 languages spoken. Nigeria has a predominantly young population, with over 40% under age 15, which presents opportunities for businesses. However, companies investing in Nigeria need to consider its high power distance and collectivist culture, as well as managing its external debt and unemployment challenges. Overall, Nigeria's large market size and growing economy make it an attractive country for foreign investment.
This document provides an analysis of international markets in Chile and Tanzania for a company called Tornado that aims to sell vehicles in those countries. It includes economic, demographic, political, and SWOT analyses for each country. The document was produced by several students for a class assignment and contains detailed information on geography, population, religions, economies, transportation and more for Chile and Tanzania. It analyzes factors like each country's politics, economics, society, and technologies to understand opportunities and risks for Tornado.
The document summarizes recent economic developments in Nigeria based on new GDP data released by the Nigerian government. It finds that productivity, not population growth, has been the largest driver of GDP growth since 2010. However, Nigeria's productivity and GDP per capita are lower than comparable developing economies due to its unusual urbanization process, which has not transformed the economy through migration from agriculture to more productive manufacturing and services jobs. Strengthening government capabilities will be important to ensuring future growth is more inclusive.
AFRICA - Nigeria's renewal - McKinsey & CompanyOliver Grave
The document discusses Nigeria's recent reclassification as Africa's largest economy based on new GDP data released in 2014. It notes that Nigeria's GDP growth since 2010 has been driven more by productivity than population growth, but that weaknesses in agriculture and urbanization have prevented most Nigerians from benefiting. It argues that strengthening government capabilities will be essential to making growth more inclusive and achieving better social outcomes.
India's biggest social challenge is poverty, which affects over 400 million people. Other major challenges include lack of education, religious violence, and poor governance. To achieve its 2050 potential of becoming larger than the US economically, India needs to address these issues by improving education standards, implementing credible fiscal policies, increasing agricultural productivity, and ensuring equal access to services. The document argues that India's large youth population can play a key role in solving these problems by participating in politics, becoming entrepreneurs, educating others in their communities, and driving social change. As future leaders, India's youth will be instrumental in the country's continued development.
Brazil is the largest and most powerful country in South America. It has a population of over 208 million people and the 9th largest economy in the world. While Brazil has made progress in reducing poverty and growing its middle class, it still faces challenges like corruption and criminal violence. The country has a young population and is becoming more technologically advanced, but still has a way to go in improving ease of doing business and promoting further gender equality. Overall, Brazil shows potential for continued economic growth despite some obstacles.
For Singaporeans, multiculturalism is the base of their nationalism. Along with its contribution in social transformation and economic development, their multiculturalism serves as the base for national resilience and is internalized within the part of of citizen life everyday. Its stability is maintained on the basis a pre-determined ratio of ethnic composition, known as the CMIO (Chinese-Malays-Indians-Others), which has been sustained over time. However, taking this for granted could pose significant challenges as the country moves towards achieving higher economic development that immediately puts the nation in a highly dynamic position regarding matters such as immigration, terrorism, and social change. In this paper, we seek to anticipate the future so that we are better prepared for the alternatives that may arise in the future by using some methods of Futures Studies. In doing so, we firstly identify the theoretical and practical base of multiculturalism in Singapore and highlight some statistics and events that set the trends in which we should imagine the future. The bearings of the past and present on the future of Singapore multiculturalism is firstly analyzed using a futures triangle. We then use the RAHS (Risk Analysis and Horizon Scanning) software to create system maps, identify sub-models, and conduct a morphological analysis on the various drivers. This helps us in identifying and mitigating the challenges that might be faced by analysts and government in adapting to necessary changes. Then a deeper analysis of the various key drivers affecting Singaporean multiculturalism is done using the four quadrant model to highlight which issues could be handled in the short to medium term by policies and legislature and which others would need a more long term and gradual change of attitude among Singaporeans. Wild cards and their importance in the Singaporean context is also studied which is followed by a scenario building exercise to highlight the various alternatives that may lie in the future of Singaporean Multiculturalism. We conclude with certain key findings and a few recommendations on the way forward.
[Challenge:Future] THE YOUTHNNOVATION HUB PROJECTChallenge:Future
The document proposes a solution called the Youthnnovation Hub to address high unemployment rates in Nigeria, particularly among youth. The hub would have two main services: 1) The Youthnnovation Accelerator, a startup incubator to help entrepreneurs launch businesses from idea to funding in 6 months. 2) Youthnosource, which would provide digital work and skills training to poor youth and connect them to online microwork paying a living wage. The goal is to create jobs and help break the cycle of poverty in Nigeria through entrepreneurship and access to online work opportunities.
Better governance is driving Africa's economic ascent. From public finance and banking reforms to stronger rule of law and public service delivery, African governance is changing.Through fieldwork, country studies and high-level interviews, this special report - produced by This is Africa and supported by the Tony Blair Africa Governance Initiative
Choice of succession in african and asian owned businessJohn Johari
This document summarizes a study on the growth, sustainability, and inhibiting factors of family owned businesses in southeast Nigeria. The study examined 250 small business owners and executives in the region. It found that many family owned businesses suffer from a lack of planning, basic information, political awareness, choosing the wrong business line, and poor bookkeeping. This often leads to businesses starting and failing, rarely succeeding beyond the original owner. The document recommends that business owners invest heavily in training to develop management skills and adapt to Nigeria's changing business environment in order to improve sustainability and growth of family owned businesses in the region.
This document provides an outline and overview of Nigeria's economic growth and development challenges. It discusses Nigeria's strong GDP growth over the past decade, population growth, opportunities for economic diversification and a demographic dividend. However, growth has not translated to significant reductions in poverty or improvements in human development. Key challenges include overdependence on oil, lack of infrastructure, security issues, and high unemployment despite employment-intensive growth. The population is growing rapidly which will increase pressures to generate sufficient jobs.
The document provides an overview of investing in Nigeria. It discusses Nigeria's politics and recent elections, noting the new government faces challenges in uniting the coalition parties and tackling corruption. The economy is analyzed, including the impact of low oil prices. Key sectors for investment like infrastructure, capital markets, and real estate are examined. While Nigeria has potential, the summary cautions investors to closely follow the political landscape given risks around factions within the new government and the challenges in reducing corruption.
Will post-election Philippines continue to be conducive for FDI? | The stance...Kyna Tsai
The document discusses the potential impact of the upcoming Philippine presidential election on foreign direct investment (FDI). It outlines the stances of the four front-running candidates - Grace Poe, Mar Roxas, Jejomar Binay, and Rodrigo Duterte - on key issues like foreign ownership restrictions, infrastructure development, tax reforms, and anti-corruption efforts. While each candidate vows to continue the current administration's focus on good governance and fighting corruption, their differing backgrounds and records raise some investor uncertainty, particularly regarding Duterte due to human rights allegations. Overall, a continued emphasis on transparency, reduced red tape and improved infrastructure is expected to maintain a positive climate for FDI after the election.
This report provides a fact-based assessment of Michigan's economic competitiveness relative to other states. Michigan's performance is compared on key output (e.g., employment, GFP) and input (e.g., labor cost) metrics. A set of "traditional," "new economy,' and "Top Ten" benchmark states were used to provide multiple reference points to evaluate Michigan's performance.
The purpose of this study is to examine the impact of insecurity on business activities in Kogi State.
Questionnaire was used to collect the primary data from targeted groups in the population. The findings of this
study suggest that the security situation in Kogi state has become a major challenge for investors, and this could
pose a threat for its economy with implication for investment and job losses. The present security challenge could
diminish the state’s ability to command local and international respect. The study recommended among others
that government of Kogi state should overhaul the security agencies in the state to meet the current security
challenges. Provision of new infrastructure as well as mending of dilapidate ones should be carried out in the
state. It should be ensured that the major cities have functional street lights to enhance security. Similarly, the
state government should create more job opportunities for the teeming number of unemployed youths.in the fair
value hierarchy would increase comparability in accounting practice among entities.
This document discusses India's economic development from 1947 to the present. It notes that India had a growth rate of 4% from 1947 to 1991 under a political monopoly. Economic reforms began in 1991 under PV Narasimha Rao which increased the growth rate. From 1994 to 2004, policies under TDP, UF, and NDA governments further boosted growth. However, from 2004 to the present, issues like poor governance, corruption, and policy paralysis have slowed growth to under 5% again. The document advocates for reforms like administrative, fiscal, and judicial reforms as well as electoral and political reforms to reinvigorate India's economy and development.
This document discusses India's economic development from 1947 to the present. It notes that India had a growth rate of 4% from 1947 to 1991 under a political monopoly. Economic reforms began in 1991 under PV Narasimha Rao which increased the growth rate. From 1994 to 2004, policies under TDP, UF, and NDA governments further boosted growth. However, from 2004 to the present, issues like poor governance, corruption, and policy paralysis have slowed growth to under 5% again. The document advocates for reforms like administrative, fiscal, and judicial reforms as well as electoral and political reforms to reinvigorate India's economy and development.
South Africa was once seen as a beacon of hope for Africa after overcoming apartheid, but it is now facing economic and political challenges. While Africa's economies have been growing at 6% annually, South Africa's growth has slowed to 2%. This is due to issues like strikes in the mining industry, which has impacted investment. South Africa also faces high unemployment, inequality, and a lack of education, which contributes to its problems. There is xenophobic violence against foreigners, which has damaged South Africa's reputation in Africa. Overall, while South Africa was once a leader, it is now struggling compared to other growing African economies.
The document provides an overview of Abu Dhabi, the capital city of the United Arab Emirates. It discusses Abu Dhabi's rapidly developing economy, focused on non-oil sectors like tourism, industry and finance per its Economic Vision 2030 plan. Abu Dhabi has a stable economy backed by its oil wealth and sovereign wealth funds. It is also investing heavily in renewable energy and developing world-class infrastructure like the zero-carbon city of Masdar to support continued growth. Transport networks are also being expanded to accommodate rising population levels in the growing capital city.
The document discusses India's past, present, and future economic growth and development. It makes three key points:
1. India has experienced strong economic growth over the past 25 years, averaging around 6-7% annual GDP growth, driven by domestic consumption and the services sector rather than exports. This has lifted millions out of poverty and expanded the middle class.
2. However, poor governance continues to hold India back, as seen by issues like low quality education and absenteeism in public services. Fixing governance problems is critical for spreading prosperity and happiness across India.
3. If reforms continue and governance improves, India is well-positioned for continued economic growth that could see it become one of the
This document provides an interim report on the White House Hispanic Community Action Summits held in 2011-2012. It discusses the growth of the Hispanic population in the US and their importance to the economy and workforce. It describes the first White House Hispanic Policy Conference in 2011 and the subsequent regional summits that were held to engage Hispanic leaders and federal officials on key issues. Over 3000 leaders participated in discussions on jobs, education, healthcare, immigration and Hispanic heritage. The report outlines federal actions taken in response to issues raised at the summits.
2016 State of Women-Owned Businesses Executive ReportWBDC of Florida
This report analyzes trends in women-owned businesses in the US between 2007-2016. Some key findings include:
- The number of women-owned businesses grew 45% between 2007-2016, 5 times the national average growth rate of 9%. Employment in women-owned businesses grew 18% while overall employment declined 1%.
- Minority women-owned businesses saw the strongest growth, more than doubling in number. Nearly 80% of the 3.5 million net new women-owned businesses launched since 2007 were owned by women of color.
- The industries with the highest growth rates for women-owned businesses vary by ethnicity. For example, African American women are more likely to own hair/nail sal
PART 1 COUNTRY SELECTION AND EVALUATION1.A. Country Selection.docxkarlhennesey
The document provides an analysis of Nigeria as a potential market entry for a medical device company's negative pressure wound therapy device. It evaluates Nigeria across several criteria: geography, demography, culture, and economy. Some key points:
- Nigeria has a large and growing population, with over half under age 25, representing a sizable potential consumer base. However, economic and infrastructure challenges remain.
- The economy relies heavily on oil exports and suffered declines from falling oil prices, though recent growth has been steady near 2%. High inflation and poverty persist issues.
- A diverse array of ethnic groups and religions influence the culture, which blends traditional and modern aspects. Business practices can vary significantly across regions.
In summary,
[Challenge:Future] The World and YOU: Make.it.WORKChallenge:Future
The team proposes training Nigerian youths in skills acquisition to address high unemployment. Unemployment affects over 80% of Nigerian youth and over 300,000 graduates are unemployed yearly. Their solution is to create free skills training programs for ages 18-30 in various skills like sewing, crafts, and agriculture to encourage entrepreneurship and reduce reliance on scarce white collar jobs. The goal is for youth to become self-employed or employ others, increasing productivity and economic development.
India's biggest social challenge is poverty, which affects over 400 million people. Other major challenges include lack of education, religious violence, and poor governance. To achieve its 2050 potential of becoming larger than the US economically, India needs to address these issues by improving education standards, implementing credible fiscal policies, increasing agricultural productivity, and ensuring equal access to services. The document argues that India's large youth population can play a key role in solving these problems by participating in politics, becoming entrepreneurs, educating others in their communities, and driving social change. As future leaders, India's youth will be instrumental in the country's continued development.
Brazil is the largest and most powerful country in South America. It has a population of over 208 million people and the 9th largest economy in the world. While Brazil has made progress in reducing poverty and growing its middle class, it still faces challenges like corruption and criminal violence. The country has a young population and is becoming more technologically advanced, but still has a way to go in improving ease of doing business and promoting further gender equality. Overall, Brazil shows potential for continued economic growth despite some obstacles.
For Singaporeans, multiculturalism is the base of their nationalism. Along with its contribution in social transformation and economic development, their multiculturalism serves as the base for national resilience and is internalized within the part of of citizen life everyday. Its stability is maintained on the basis a pre-determined ratio of ethnic composition, known as the CMIO (Chinese-Malays-Indians-Others), which has been sustained over time. However, taking this for granted could pose significant challenges as the country moves towards achieving higher economic development that immediately puts the nation in a highly dynamic position regarding matters such as immigration, terrorism, and social change. In this paper, we seek to anticipate the future so that we are better prepared for the alternatives that may arise in the future by using some methods of Futures Studies. In doing so, we firstly identify the theoretical and practical base of multiculturalism in Singapore and highlight some statistics and events that set the trends in which we should imagine the future. The bearings of the past and present on the future of Singapore multiculturalism is firstly analyzed using a futures triangle. We then use the RAHS (Risk Analysis and Horizon Scanning) software to create system maps, identify sub-models, and conduct a morphological analysis on the various drivers. This helps us in identifying and mitigating the challenges that might be faced by analysts and government in adapting to necessary changes. Then a deeper analysis of the various key drivers affecting Singaporean multiculturalism is done using the four quadrant model to highlight which issues could be handled in the short to medium term by policies and legislature and which others would need a more long term and gradual change of attitude among Singaporeans. Wild cards and their importance in the Singaporean context is also studied which is followed by a scenario building exercise to highlight the various alternatives that may lie in the future of Singaporean Multiculturalism. We conclude with certain key findings and a few recommendations on the way forward.
[Challenge:Future] THE YOUTHNNOVATION HUB PROJECTChallenge:Future
The document proposes a solution called the Youthnnovation Hub to address high unemployment rates in Nigeria, particularly among youth. The hub would have two main services: 1) The Youthnnovation Accelerator, a startup incubator to help entrepreneurs launch businesses from idea to funding in 6 months. 2) Youthnosource, which would provide digital work and skills training to poor youth and connect them to online microwork paying a living wage. The goal is to create jobs and help break the cycle of poverty in Nigeria through entrepreneurship and access to online work opportunities.
Better governance is driving Africa's economic ascent. From public finance and banking reforms to stronger rule of law and public service delivery, African governance is changing.Through fieldwork, country studies and high-level interviews, this special report - produced by This is Africa and supported by the Tony Blair Africa Governance Initiative
Choice of succession in african and asian owned businessJohn Johari
This document summarizes a study on the growth, sustainability, and inhibiting factors of family owned businesses in southeast Nigeria. The study examined 250 small business owners and executives in the region. It found that many family owned businesses suffer from a lack of planning, basic information, political awareness, choosing the wrong business line, and poor bookkeeping. This often leads to businesses starting and failing, rarely succeeding beyond the original owner. The document recommends that business owners invest heavily in training to develop management skills and adapt to Nigeria's changing business environment in order to improve sustainability and growth of family owned businesses in the region.
This document provides an outline and overview of Nigeria's economic growth and development challenges. It discusses Nigeria's strong GDP growth over the past decade, population growth, opportunities for economic diversification and a demographic dividend. However, growth has not translated to significant reductions in poverty or improvements in human development. Key challenges include overdependence on oil, lack of infrastructure, security issues, and high unemployment despite employment-intensive growth. The population is growing rapidly which will increase pressures to generate sufficient jobs.
The document provides an overview of investing in Nigeria. It discusses Nigeria's politics and recent elections, noting the new government faces challenges in uniting the coalition parties and tackling corruption. The economy is analyzed, including the impact of low oil prices. Key sectors for investment like infrastructure, capital markets, and real estate are examined. While Nigeria has potential, the summary cautions investors to closely follow the political landscape given risks around factions within the new government and the challenges in reducing corruption.
Will post-election Philippines continue to be conducive for FDI? | The stance...Kyna Tsai
The document discusses the potential impact of the upcoming Philippine presidential election on foreign direct investment (FDI). It outlines the stances of the four front-running candidates - Grace Poe, Mar Roxas, Jejomar Binay, and Rodrigo Duterte - on key issues like foreign ownership restrictions, infrastructure development, tax reforms, and anti-corruption efforts. While each candidate vows to continue the current administration's focus on good governance and fighting corruption, their differing backgrounds and records raise some investor uncertainty, particularly regarding Duterte due to human rights allegations. Overall, a continued emphasis on transparency, reduced red tape and improved infrastructure is expected to maintain a positive climate for FDI after the election.
This report provides a fact-based assessment of Michigan's economic competitiveness relative to other states. Michigan's performance is compared on key output (e.g., employment, GFP) and input (e.g., labor cost) metrics. A set of "traditional," "new economy,' and "Top Ten" benchmark states were used to provide multiple reference points to evaluate Michigan's performance.
The purpose of this study is to examine the impact of insecurity on business activities in Kogi State.
Questionnaire was used to collect the primary data from targeted groups in the population. The findings of this
study suggest that the security situation in Kogi state has become a major challenge for investors, and this could
pose a threat for its economy with implication for investment and job losses. The present security challenge could
diminish the state’s ability to command local and international respect. The study recommended among others
that government of Kogi state should overhaul the security agencies in the state to meet the current security
challenges. Provision of new infrastructure as well as mending of dilapidate ones should be carried out in the
state. It should be ensured that the major cities have functional street lights to enhance security. Similarly, the
state government should create more job opportunities for the teeming number of unemployed youths.in the fair
value hierarchy would increase comparability in accounting practice among entities.
This document discusses India's economic development from 1947 to the present. It notes that India had a growth rate of 4% from 1947 to 1991 under a political monopoly. Economic reforms began in 1991 under PV Narasimha Rao which increased the growth rate. From 1994 to 2004, policies under TDP, UF, and NDA governments further boosted growth. However, from 2004 to the present, issues like poor governance, corruption, and policy paralysis have slowed growth to under 5% again. The document advocates for reforms like administrative, fiscal, and judicial reforms as well as electoral and political reforms to reinvigorate India's economy and development.
This document discusses India's economic development from 1947 to the present. It notes that India had a growth rate of 4% from 1947 to 1991 under a political monopoly. Economic reforms began in 1991 under PV Narasimha Rao which increased the growth rate. From 1994 to 2004, policies under TDP, UF, and NDA governments further boosted growth. However, from 2004 to the present, issues like poor governance, corruption, and policy paralysis have slowed growth to under 5% again. The document advocates for reforms like administrative, fiscal, and judicial reforms as well as electoral and political reforms to reinvigorate India's economy and development.
South Africa was once seen as a beacon of hope for Africa after overcoming apartheid, but it is now facing economic and political challenges. While Africa's economies have been growing at 6% annually, South Africa's growth has slowed to 2%. This is due to issues like strikes in the mining industry, which has impacted investment. South Africa also faces high unemployment, inequality, and a lack of education, which contributes to its problems. There is xenophobic violence against foreigners, which has damaged South Africa's reputation in Africa. Overall, while South Africa was once a leader, it is now struggling compared to other growing African economies.
The document provides an overview of Abu Dhabi, the capital city of the United Arab Emirates. It discusses Abu Dhabi's rapidly developing economy, focused on non-oil sectors like tourism, industry and finance per its Economic Vision 2030 plan. Abu Dhabi has a stable economy backed by its oil wealth and sovereign wealth funds. It is also investing heavily in renewable energy and developing world-class infrastructure like the zero-carbon city of Masdar to support continued growth. Transport networks are also being expanded to accommodate rising population levels in the growing capital city.
The document discusses India's past, present, and future economic growth and development. It makes three key points:
1. India has experienced strong economic growth over the past 25 years, averaging around 6-7% annual GDP growth, driven by domestic consumption and the services sector rather than exports. This has lifted millions out of poverty and expanded the middle class.
2. However, poor governance continues to hold India back, as seen by issues like low quality education and absenteeism in public services. Fixing governance problems is critical for spreading prosperity and happiness across India.
3. If reforms continue and governance improves, India is well-positioned for continued economic growth that could see it become one of the
This document provides an interim report on the White House Hispanic Community Action Summits held in 2011-2012. It discusses the growth of the Hispanic population in the US and their importance to the economy and workforce. It describes the first White House Hispanic Policy Conference in 2011 and the subsequent regional summits that were held to engage Hispanic leaders and federal officials on key issues. Over 3000 leaders participated in discussions on jobs, education, healthcare, immigration and Hispanic heritage. The report outlines federal actions taken in response to issues raised at the summits.
2016 State of Women-Owned Businesses Executive ReportWBDC of Florida
This report analyzes trends in women-owned businesses in the US between 2007-2016. Some key findings include:
- The number of women-owned businesses grew 45% between 2007-2016, 5 times the national average growth rate of 9%. Employment in women-owned businesses grew 18% while overall employment declined 1%.
- Minority women-owned businesses saw the strongest growth, more than doubling in number. Nearly 80% of the 3.5 million net new women-owned businesses launched since 2007 were owned by women of color.
- The industries with the highest growth rates for women-owned businesses vary by ethnicity. For example, African American women are more likely to own hair/nail sal
PART 1 COUNTRY SELECTION AND EVALUATION1.A. Country Selection.docxkarlhennesey
The document provides an analysis of Nigeria as a potential market entry for a medical device company's negative pressure wound therapy device. It evaluates Nigeria across several criteria: geography, demography, culture, and economy. Some key points:
- Nigeria has a large and growing population, with over half under age 25, representing a sizable potential consumer base. However, economic and infrastructure challenges remain.
- The economy relies heavily on oil exports and suffered declines from falling oil prices, though recent growth has been steady near 2%. High inflation and poverty persist issues.
- A diverse array of ethnic groups and religions influence the culture, which blends traditional and modern aspects. Business practices can vary significantly across regions.
In summary,
[Challenge:Future] The World and YOU: Make.it.WORKChallenge:Future
The team proposes training Nigerian youths in skills acquisition to address high unemployment. Unemployment affects over 80% of Nigerian youth and over 300,000 graduates are unemployed yearly. Their solution is to create free skills training programs for ages 18-30 in various skills like sewing, crafts, and agriculture to encourage entrepreneurship and reduce reliance on scarce white collar jobs. The goal is for youth to become self-employed or employ others, increasing productivity and economic development.
This document provides an overview of Nigeria as an investment destination. It begins with a quick glance section that outlines key facts about Nigeria such as its official name, capital, population, ethnic groups, languages, and currency. The next section provides a country profile, noting that Nigeria has experienced 50 years of struggles but is now seeing fruits of stability and economic growth. It highlights Nigeria's large population and fast growing economy, as well as its cultural and ethnic diversity. The document aims to focus on all possible aspects of investing in Nigeria.
Nigeria marks its 50th anniversary of independence from British rule. While the country has endured challenges like military rule and civil war, there is reason to celebrate its progress toward democracy. However, Nigeria has not achieved the promise expected at independence, as countries like Malaysia and India that were peers have now surpassed Nigeria economically and developmentally. Nigeria continues to face major problems like poor infrastructure, healthcare, education, corruption, insecurity, and a lack of vision from its leadership despite its human and natural resources. The key issue is Nigeria's political system which lacks accountability and nourishes a bloated bureaucracy, parasites, and selfish elites over serving the people.
This was delivered by Former Governor or Lagos State, Mr. Babatunde Raji Fashola in Abuja on MArch 23, 2015 at the Progressive Governors Forum 1st Quarter Activity in preparation for the 2015 General Elections
www.hasnainmraza.com
Africa has infinite potential. With numerous resources, an improving business climate and better economic governance, the numbers showing growth have been very positive. This presentation covers topics that speak on Africa's growth and where it can go. Here's a few stats that show how well the continent is doing:
A report from the African development bank said 33% of Africa's countries have GDP growth rates higher than 6%.
The costs of starting a business dropped upwards of 66% over the last 7 years.
The continent's middle class is growing at a very quick rate - approximately 350 million Africans now earn between $2 and $20 a day.
The share of the population living below the poverty line in Africa has dropped from 51% in 2005 to 39% in 2012.
Africa's collective GDP was $1.6 trillion in 2008, which was roughly equal to Brazil and Russia's GDP.
www.hasnainmraza.com
Developing the Nigeria Manufacturing sector is a route to opening up a new frontier for the expansion of trade, productivity & competitiveness
• Currently, Industrial capacity is very low with critical industries within the real sector performing below expectations
• The contribution of manufacturing to Nigeria’s GDP is less than 10%
• This is very sad given the fact that retail and wholesale trade are growing at a very fast rate
• And given the fact that Agriculture account for almost 24% of Nigeria’s GDP, there are indications that if a proper framework is put in place, Nigeria’s manufacturing can begin to witness phenomenal growth
• Part of the factors that will help shore up local production and reduce the cost of doing business in Nigeria are:
• The Power Sector reforms - this needs to be fine-tuned
• The strengthening of a policy framework which removes double taxation and encourages investment in the vertical integration of primary sector, Agriculture to secondary sector, production
• Such policies must be backed with the right fiscal policies which give a measure of comfort to infant industry against global competition
Social Work and Social Development in Nigeria - Issues & Challengesguestdfeaacd
1. Nigeria faces many social and economic challenges including corruption, poverty, and lack of infrastructure despite its abundant natural and human resources.
2. Regional disparities exist within Nigeria with social indicators being worse in northern rural areas compared to southern urban centers.
3. While oil wealth generates a large portion of Nigeria's GDP, the country's overdependence on oil has negatively impacted other sectors like agriculture and led to increased poverty and inequality among citizens.
This report summarizes the scale of economic and gender inequality in Nigeria. It finds that while Nigeria has experienced significant economic growth in recent decades, this growth has primarily benefited a small elite. More than half of Nigeria's population still lives in extreme poverty. The report identifies several key drivers of inequality in Nigeria, including a regressive tax system that taxes the poor heavily while giving breaks to large corporations, high costs of governance that consume resources needed for public services, and rampant corruption among political elites that siphons off billions from state coffers for private gain. It concludes that reducing inequality will require reforms to policy and politics that distribute opportunities, income, and wealth more widely and curb corruption and rent-seeking behavior by elites
Poverty and it's Alleviation: Lessons for Nigeriaijtsrd
This document summarizes a study on poverty and efforts to alleviate it in Nigeria. Some key points:
- Poverty in Nigeria has persisted despite various government development plans and programs since 1960.
- Poverty levels rose between 1980-1996 according to government statistics, with over 70% of Nigerians living in poverty.
- Poverty is most severe in rural areas and northern regions of the country.
- Income inequality and corruption have contributed significantly to poverty.
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Prospect of Bengal Group Of Industries Doing Business In Nigeria
1. North South University
SBE
Department of Marketing and IB
Semester: Spring 2016
Course Code: INB 372, Section: __1___
Final Report
Faculty: __SMI___ Date: _27.03,2016__________
Marks obtained:
(This space is for faculty’s usage. Do not write here.)
GROUP DETAILS
Name ID Roll
1) Farah Khan 1130071030 1
2) Erteza Ahmed 1310395030 12
3)Mouri Nabila Tabassum 1210262030 4
4)Sk. Md. Asif Rahman 1130450030 2
5) Mustafizur Rahman 1320937030 25
2. TABLE OF CONTENTS
SL NO. TOPIC Pg. no.
1. Company Overview 3
2. Political And
Economic Analysis
4
3. Social Analysis 4
4. Technological
Analysis
5
5. Racial Issues 6
6. Religious Issues 6
7. Government
Intervention In The
Economy
7-8
8. ECONOMIC
INTEGRATION
8-9
9. FDI ISSUES 9
10. CHOOSING ENTRY
STRATEGY
9-10
11. STRATEGICAL
REASONS
10-11
12. RECOMMENDATION 12
13. BIBLIOGRAPHY 12
3. COMPANY OVERVIEW
Bengal is a company of Bengal Group of Industries, which started back in 1969. Today Bengal
plastic, is the largest plastic industry in Bangladesh processing more than 3,000 metric ton raw
materials per month.
Our Quality Control (QC) lab tests a wide range of incoming raw materials and components to
meet our customer's quality requirements. To exceed the ever changing taste of our global
customers, we have developed modern tool room with latest technology & highly skilled
technician to ensure consistent product quality in the production process.
To support the logistics, we have build more than 100,000 SFT (9,291 square meter) of
warehousing area to deliver the products efficiently. All of our efforts are dedicated to make our
customers‟ life better, easier, & happier.
Vision of Bengal
To be the best leading company in our industry and to deliver total quality goods and services to
all of our Customers.
Core Values
Integrity Team work
Excellence
Accountability
Market
We don't just talk about the quality of our products, we are committed to it. we accomplish this
by operating and maintaining modern and efficient state-of-the-art production plants accredited
with ISO 9001:2008 & ISO 14001:2004. In B2C market we have 30 categories product
containing more than 300 SKU and in B2B market we have 2 categories product in 40 SKU.
Brand Values
The essence Our employees play a vital role in ensuring the success of our daily business
activities. Every employee, manager and director throughout the organization is expected to
adhere to our core values of Integrity, Teamwork, Excellence and Accountability. These values
are also the basis on which we build the trust and integrity that will allow our businesses to
continue to succeed. What the consumer believes is to put simply, “100% trustworthy.”
4. Political and Economic Analysis
In the country‟s fifty years of post-independence existence, the military has ruled it for thirty odd
years; there have been nearly 7 coup d‟états including palace and attempted coups; and numerous
religious and ethnic eruptions have garnished and beclouded its political arena. Years of military
dictatorship, corruption, political instability and poor governance have meant insufficient
investments in the country‟s infrastructure and basic services. Corruption is one of the principal
challenges in Nigeria, raising the cost and risk of doing business in the country and making the
country unattractive to investors.
Nigeria is a middle income, mixed economy and emerging market, with expanding financial,
service, communications, and technology and entertainment sectors. It is ranked as the 21st
largest economy in the world in terms of nominal GDP, and the 20th largest in terms of
Purchasing Power Parity. It is the largest economy in Africa; its re-emergent, though currently
underperforming, manufacturing sector is the third-largest on the continent, and produces a large
proportion of goods and services for the West African sub region.
Social Analysis
Analysis of Demographics by Age Group
The population of Nigeria is increasing every year. Most of them are young and continued to be
so until 2030 because of a really high fertility rate. It will be fifth most populous country by
2050. If everything remains same 64+ and 15-64 groups will not experience notable growth in
next 20 years. On the other hand, People who are under 14 is expected to decrease in that time.
Analysis of Age on Healthcare
There is low life expectancy in Nigeria which is now 52.11 years. The primary reason for this is
very poor healthcare system, malnutrition, and pure water unavailability. They must need to
undergo proper underpinning to be considered a match for other developing countries like South
Africa.
Population Dynamics
Nigeria is becoming an urban nation and the ratio is nearly 1:1 between urban and rural. Lagos
are the largest city and the population is 14 million there. It becomes the primary harbor for
migration within the country.
5. Technological Analysis
Nigeria is one of the fastest growing telecommunication sectors in the world. Former President
Goodluck Jonathan encouraged improvement of telecommunication industry and current
president Mummadu Buhari continued to do so although in a recent interactive forum with the
member of the Nigerian community in Abu Dhabi he warned telecom companies to follow the
rules of the Nigerian Communication Commission. He wanted the telecom companies not to put
profit above the security of Nigerian people. They rely heavily on Western Europe and the
United State of America for supply. Nearly 30 percent Nigerian have access to the internet and it
has an approximate 1400 internet hosts and 45 million internet users. Nigeria is ranked 169 out
of 189 countries in the last survey by World Bank regarding the „ease of doing business.‟
Nigerian National Identity Management Commission plans to introduce more or less 100 million
cards for 173.6 million citizens. MasterCard is already doing business in there and they are just
getting started.
Racial, Religious and Cultural Issues
If we analyze Nigerian culture through Hofstede‟s six cultural dimensions, we can see Nigeria is
currently scored high on power distance (score of 80) which means they maintain a strictly
hierarchical culture. Business leaders don‟t need anyone‟s affirmation to make a decision and
their decision is final regardless of the rationality. Managers often take a fatherly role with regard
to peers. People ask the boss for advice on professional as well as personal life.
Nigeria scored 30 which means they are considered as a collectivist society. They are very
relationship oriented and there is no „I‟ in the team. Everyone shares the responsibility of others.
If a team is formed and working well together, it will be best to leave it in place. Team follow the
guidelines only when an authoritative leader takes the charge.
Nigeria scored 60 which is considered to be a Masculine society. People want to be the best and
that‟s what motivates people. Managers have the ability to make decisions quickly and
effectively.
6. Nigeria scored 55 on uncertainty avoidance which is an in-between situation. This score doesn‟t
clearly show a preference.
Nigeria scored 13, a very low score in terms of orientation. They have great respect for their
tradition and they naturally intertwine their past with the present. They search for the concrete
truth, which means their culture is normative instead of pragmatic. They always focus on
achieving immediate results.
Nigeria scored 84, which is considered to be one of indulgence. They have a positive attitude in
life and have a knack towards optimism. They enjoy their life, have fun and put great emphasize
on leisure time. They act how they want to be and spend money in the same way.
Racial Issues
There are nearly 250 ethnic groups in Nigeria. The Nigerian identity is very heterogeneous.
Hausa and Fulani, Yoruba and Igbo are the largest of them and they compromised two-thirds of
the country‟s population. Racial discrimination is always there although constitutes prohibit
ethnics discrimination. Petroleum issues, accusing government to favor and patronize certain
ethnic groups, issues of environmental degradation are always there. There is a long history of
tension in some ethnic groups.
Religious Issues
Half-Christian, half-Muslim, Nigeria is a country where faith needs to be restored if they don‟t
want to die in great numbers. The recent kidnapping of children and savage killing of Boko
haram is a perfect example for that. So to do business religion is an important factor to consider.
Muslim north and Christian south are often heard from commentators on Nigeria but in the
southwest part of Nigeria, Yoruba ethnic group which is made up of Muslims and Christians
proves otherwise. They lived peacefully together for the most part. It is more complex than it
seems. So in which part of the country business will operate efficiently that is an important
question to answer.
7. Government Intervention in The Economy
There is bilateral relation between Bangladesh and Nigeria and they both are the members of
Organization of Islamic Cooperation, Developing 8 countries and others. The Bangladesh
government plans to sign free trade agreements with Nigeria to increase the export in the African
countries. Nigeria already lifted the barrier on importing o import various apparel items. The
both governments having a friendly relationship in boosting their economy. Nigeria is a country
of 1584million people, with a per capita income of US$1,091, could be a promising export
market for Bangladesh products. It is beneficial to do business in Nigeria. Nigeria‟s
infrastructure spending has increased recently. The Nigerian government is developing the
infrastructure using both public and private partnership (PPP) mechanisms.
Entering the market of Nigeria the company has to focus on the favorable sides of the market, is
the market is politically stable, low inflation rate, private sector debt and others.
INFLATION RATE: Nigeria has a current inflation rate of 11.4%, in the month of January it
was 9.6%. The rate increases to 1.8% in just two months. Inflation rate of 2% is said to be stable
ensures that economy is able to grow and the business are profitable enough to maintain and
increase workforces. Inflation above 2% let to increase the price of the product due to the high
demands of consumers. High inflation thus let to increase the profit of business as the demand
increases.
POLITICAL SITUATION: The current political situation in Nigeria puts a threat to the foreign
investor due to ethnics groups like Boka Haram. But the government are helping and giving
opportunities to the foreign companies to invest and expand their market in Nigeria in very low
tarrifs.
Market of Plastic Furniture in Nigeria:
There are very few local renowned plastic furniture manufacturers in Nigeria like Black Horse
plastic with a very low product lines. Some other foreign manufacturers enter the market in few
years back and giving a good competition as the people of Nigeria are tends to like more the
outside goods. As the local manufacturers are failing to fulfill the needs and demands of the
customers and the foreign manufactures are targeting the upper class group as their products are
highly expensive. Thus it will help the Bengal Plastic to enter the markets to and full filling the
customer demands and needs giving those imported products in low prices than any other
competitors. The following Strategy will let the Bengal Plastic to reduce their cost on exporting
to Nigeria.
8. Pioneer tax incentives: Upon satisfaction of certain fixed conditions, pioneer status is
given to companies in furniture industry and these companies that qualify get a tax
holiday for five years, three years initially and that again have to be renewable for a
further 1 or 2 years upon application or request.
Under the Capital Gains Tax Act: Foreign companies and investor doing business in
Nigeria are immune from capital gain tax on disposal of assets.
Economic Integration
Nigeria's trade relations with its neighbors exist at a relatively low level when compared with the
country's links with the advanced western economies. Although the structure of its West African
trade network is complex and dynamic, involving a lot of informal trade, formal trade has been
limited by a host of historical, political, attitudinal and social factors.
Few challenge the notion that Nigerian businesses and the economy as a whole would benefit
from greater trade with its neighbors. In its 2012 country strategy for Nigeria, the African
Development Bank cited greater regional trade among the potential “strengths and
opportunities”.
Experts predict that it will soon become Africa‟s largest economy, overtaking South Africa. „If
confirmed, the 40 percent upward revision would bring Nigeria‟s GDP to about $370 billion, just
shy of South Africa‟s output ($391 billion forecast for 2012), with the country subsequently
becoming the largest economy in Africa within a year or two,” Samir Gadio, an Emerging
Markets Strategist at Standard Bank, said concerning the Nigeria‟s forthcoming GDP rebasing
exercise.
But the country is not doing enough business in Africa, thus, missing an opportunity to capitalize
and to benefit from Africa‟s fast-growing consumer markets. But the country continues to do
more business with countries in Europe, Asia and America, as revealed by the Visa Africa
Integration Index, which pegs the depth component of its global integration at 26.1 against 9.6
regionally.
So there is an opportunity for the Bengal Group of Industries (BGI) to enter the market of
Nigeria with their house ware products and furniture.
Economic Integration (EI) and its influence:
It will be an attempt to exploit the gains from free trade and investment.
Allows BGI to opens new markets in Nigeria
9. Allows BGI to realize cost economies by centralizing production in Nigeria where
the mix of factor costs and skills is optimal
Provides agreements between Bangladesh & Nigeria to reduce tariff and non-
tariff barriers to the free flow of goods, services, and factors of production
between each other
Linking both countries together, making them more dependent on each other
Creates incentives for political cooperation and reduces the likelihood of violent
conflict
It will be only beneficial if the amount of trade BGI would create exceeds the
amount it diverts
Trade diversion can occur as higher cost suppliers will replace lower cost external
suppliers
Together, the countries have the economic clout to enhance trade with other
countries or trading blocs.
FDI Related Issues
A foreign direct investment (FDI) is a controlling ownership in a business enterprise in one
country by an entity based in another country. Nigeria is one of the economies with great
demand for goods and services and has attracted some FDI over the years. Nigeria is a country of
vast economic opportunity. It famously became the biggest economy in Africa in 2014, after an
economic rebase almost doubled the size of its gross domestic product (GDP). At about $510bn,
its economy is now bigger than South Africa‟s (and among the top 30 in the world). That news
came as a profound endorsement for Nigeria, which – if it wasn‟t already – is now the centre of
the African growth story; a nation impossible for investors to ignore.
Bengal Group of Industries will follow the greenfield strategy. As a greenfield venture is better
when the firm needs to transfer organizationally embedded competencies, skills, routines, and
culture. The main advantage of a greenfield venture is that it gives the firm a greater ability to
build the kind of subsidiary company that it wants.
10. Choosing the Entry Strategy
Bengal Group of Industries (BGI) has to establish a whole new operation in Nigeria if they want
to invest in this country. Then it would become a multinational enterprise. So the entry mode
BGI need to decide and implement is to establishing a new wholly owned subsidiary. This choice
of entry mode will have to deal with the transport cost, trade barriers, political risks, economic
risks, costs, and firm‟s strategy.
Benefits of choosing wholly owned subsidiarry for BGI:
It can reduce the risk of losing control over core competencies.
It will give BGI the tight control in the foreign country which is necessary for global
strategic coordination.
It is required in order to realize location and experience curve economies.
Disadvantages of choosing wholly owned subsidiary for BGI:
BGI will have to bear the full cost and risk of setting up overseas operations.
Strategy Related Reasons for Expanding To Specific
Country
Nigeria‟s economy is growing rapidly. Foreign investors are also becoming interested to invest
here. It is the most populous country in Africa. Besides her huge oil and gas deposits, Nigeria has
abundant deposits of other natural resources which include but are not limited to bitumen,
limestone, coal, iron ore, lead and zinc. Most of these resources are largely unexploited. The
Nigerian market is also quite large. With a population of over 160,000,000 persons, Nigeria is
undoubtedly the largest market for virtually all products in Africa. Further, Nigeria is largely a
free market. The Government of Nigeria is gradually taking its hands off several sectors of the
economy and there have been very serious talks about deregulating most sectors of the economy
including the power and oil and gas sectors (the privatization of the power sector is on-going).
11. The various incentives that have been put in place to encourage investments are also reasons to
consider and make investments in Nigeria. (Yung-Heng Lee, 2009)
Ownership Advantages:
Ownership advantages involves investing firm‟s size, their international experience and firm‟s
specific assets (the company‟s ability to develop differentiated products).
Bengal Group of Industries is one of the largest plastic processing companies in the Southeast
Asia producing 1.5 million pieces of plastic apparel hangers, more than 500,000 pieces of poly
bags, 200,000 meters of strapping bands, 100,000 pieces of packaging tapes, and 150,000 pieces
of woven sacks each day. Bengal Polymer Wares Limited has captured 35% market share in
Molded Furniture Industry and 20% in the Molded House Hold Industry in the local market. So,
it‟s a large market to invest in Nigeria. Bengal‟s Research & Development Division of the group
is continuously busy developing quality, moulds, shapes and myriads of product lines. Steps are
taken to make products readily available through proper distribution chain. A huge number of
field-forces have been deployed to support the distribution procedure. And, continuous research
is the logical sequence for that matter. (Bengal Polymer Wares Limited)
Location Advantages:
The location specific advantages in Nigeria include economic variables including production
factors, transport and telecommunications costs and scope and size of the market. The political
variables include common and specific government policies towards Foreign Direct Investment
and trade issues, and social- cultural variables such as psychic distance between the home and
host country, language and cultural diversities, general attitude towards foreigners. Based on
these factors Bengal Polymer decided to invest in Nigeria. (Yung-Heng Lee, 2009)
Internationalization Advantages:
Internalization advantages refer to the advantages of controlling, coordinating ownership and
location specific advantages within the firms rather than selling the right to use those advantages
to domestic firms in the host country. The benefits to the firm of better planning, coordination,
and opportunities to increase profits must be weighed against communication and control
difficulties. Bengal keeping these things in mind they wanted to expand their business in Nigeria.
Because in Nigeria Bengal can minimize the transaction costs caused by the transfer of firm-
specific assets and can avoid the risk of free-riding the firm‟s reputation to balance the trade-off
between uncertainty of country risk and achieving economies of scales of economies in their host
market expansion. (Ogba, 2013)
12. RECOMMENDATIONS
Bribery and corruption of Nigeria should come to a limit position.
Judicial system needs to be faster.
Change should come in Laws and Government policies of Nigeria.
Actually Bangladesh governmental intervention in this sector is very much essential. If
government create better opportunities for the owner of the plastics company in case of
import and export activities like faster customs activities, install modern technology,
change the old Procedure of official activities etc. then it will better for import and export
activities of Bengal Plastic Industries Ltd. Beside this the company needs to ensure their
effectiveness in all the activities to perform better in this sector.
BIBLIOGRAPHY
(n.d.). Retrieved from http://www.superbrands.com/bd/images/PDF/07.pdf
Bengal Polymer Wares Limited. (n.d.). Retrieved from Bengal Group of Industries:
http://www.superbrands.com/bd/images/PDF/07.pdf
Ogba, D. (2013, march). Hogan Lovells. Retrieved march 26, 2016, from www.hoganlovells.com:
http://www.hoganlovells.com/files/Publication/b45cd8d0-8481-4d52-ac2e-
044ae2d08cac/Presentation/PublicationAttachment/fd65d5e4-1855-4e50-8ba5-
067c6a106cc0/Foreign%20Investments%20in%20Nigeria_preliminiary%20legal%20issues.pdf
Yung-Heng Lee, Y. H. (2009). AN EMPIRICAL STUDY OF WHOLLY-OWNED SUBSIDIARIES AND JOINT
VENTURES FOR ENTRYINTO CHINA MARKETS . GLOBAL JOURNAL OF BUSINESS RESEARCH, 14.