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THE GROWTH CHALLENGES AND MANAGEMENT OF DA VIVA TEXTILE COMPANY IN IBADAN, AS A CASE STUDY

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 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 50 ::   Attributes: Questionnaire, Data Analysis ::   3,139 people found this useful

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CHAPTER ONE

INTRODUCTION

  1. Background to the Study

The importance of divestment is crucial, and one of the key economic disadvantages and limitations of a vast majority of third world countries like Nigeria is essentially, the prolonged halts of private foreign divestment within their economies.  In addition, the predatory exploitative orientation and activities of foreign monopoly capital is also vital, the inherent tendencies to resist and obstruct domestic industrialization to perpetuate commercial capitalism hinder the economy negatively. All these factors inhibit the growth of endogamous entrepreneurship and as a result have heavily influenced Nigeria economic history for well over a century.  These issues stem from established merchant firms, as these reputable corporations made the dominance of commercial activities in Nigeria possible by restrictive practices. The sole regulator of commercial banking although a major source of credit (capital) was primarily regulated by foreign elements, this is imperative to note. Their main focus and the bulk of their policies tailored the prerequisites of foreign enterprise, indigenous entrepreneurs merely subjected on the crumbs that fell on the gable (Ezeigwe, 2009).

The aid of indigenous companies in regards to fostering economics of growth and its developments has been well articulated in various areas of this study, this study will specifically focus and lay attention on their expected impact and potential contribution on broad and diversified production base, as well as their accelerative effect in achieving macro objectives pertaining to full employment, income distribution and the development of local technology. They are particularly most conducive for diffusion of management skills and emulation of indigenous entrepreneurship overtime. (Aguolu, 2008).

Indigenous companies stipulate financial opportunity and a chance to develop wealth. It is a place where creative, motivated individuals can use their talents and expertise effectively, since it provides satisfying careers and job opportunities and it’s also the back bone of the market economy of the word. Every indigenous company start as a small firm, and it started with an entrepreneur (small business owner), who at first, earns little or no profit. It was the new ideas of small business that brought about Young shall grow Transport, Coscharis Motors pioneered by Cosmos Maduka, Dangote cement, and several commercial banks operating in Nigeria.          

 However, the unemployment situation in the country as well as the new ideas by the government about reducing social pressure caused by unemployed youths through the programme initiated by the National Directorate of Employment (NDE), were designed to entice a lot of unemployed citizens, including graduates into entrepreneurship through small business and self-reliance. Fresh graduates are now have realsied that the government and most private firms are not interested in hiring staff, rather, they cut down the numbers in their work force as a result of the contrite state of the economy. Consequently, Nigerians have embarked upon and developed various small scale firms, such as soap and cosmetics production, restaurants, fast food, hair-dressing, blogging, ice-block making, food processing, refuse disposal, taxi driving, makeup services, fashion designing, social media (online) advertising and other businesses which rely mostly on locally sourced raw materials. The determination to succeed is also fast becoming the order of the day (Uche, 2010).

Currently, the government has been playing an appreciative role in promoting the survival and development of indigenous companies, in their efforts to be more supportive to entrepreneurs through empowerment schemes and education in order to promote economic growth and development. Also, the government urges individuals to launch their own companies so as to significantly diminish unemployment in the country and also improve the balance of payment deficit through exportation.

The quintessential endeavour of government policies as seen in its measures of monetary and fiscal policy are aimed at enhancing finance and other encouraging aid by increasing and upgrading access to both credit and infrastructural facilities, reducing cost of production, boosting their profit making potential, improving their survival and development acumen as well as being actively involved in the export markets. The major goal of any profit-oriented business would essentially be to make profit. A company will make more profit if it puts meeting customer needs at the heart of the business, this will ultimately lead to more customers and therefore surpassing its competitors. This study will focus and lay analysis on textile companies in Nigeria, research and company infrastructure has been drawn from the textile industry.

           Therefore in the contribution of indigenous firms, textile companies would produce what their customers want and therefore this would result in them obtaining maximize profit and only textile companies that are effective and efficient can satisfy customer’s needs.

 

  1. Statement of the Problem

There are several problems that have been pin-pointed for impeding and thwarting the growth of Indigenous companies in Nigeria. Some of the factors responsible for the tenacious development retardation of indigenous firms include; Poor technological manpower deficiency, management incompetence, Lack of adequate capital, mass illiteracy and marketing inadequacies (both nationally and internationally). Several other challenges exist that retard the growth of indigenous companies in Nigeria,

It is therefore the researcher’s intention to critically asses the internal and external factors influencing the growth of the textile industry in Ibadan, Oyo state. The textile production industry in Nigeria has received praise as well as criticism with regards to the quality of products it churns out. Some of the complaints are centered on the thickness of the materials as well as the various textures. Others complaints include the fading of the textile materials. These problems will be scrutinized and possible solutions will be stated.

 

  1. Objectives of the Study

This study aims to appraise the challenges linked with the growth rate of indigenous companies in Nigeria. The objectives of the study are explicitly;

1) To diagnose the growth challenges being faced by Da Viva textile Company in Ibadan, Oyo State.

2) To deliver credible solutions to the challenges for use by Da Viva textile company in Ibadan.

3) To investigate the effects and contributions of management theories and how they can give indigenous companies a competitive edge over foreign companies.

4) To ascertain the endeavors of government institutions towards the growth and development of indigenous companies in Nigeria.

5) To improve the quality of products produced by the Da Viva textile company in Ibadan.

 

 

 

  1. Significance of the Study

The study will indicate the several growth challenges of indigenous companies in Nigeria with the view of possible solutions to these challenges. The findings and recommendations from the study will help to facilitate a greater working relationship between company managers and the government in order to generate improved policies that will foster the growth and development of the Nigerian textile industry. The study will also articulate techniques and strategies that can be appropriated by other textile companies in Nigeria to overcome competition from foreign owned companies.

 

  1. Research Questions
  1. What are the growths challenges facing DA VIVA Textiles in Ibadan, Oyo State?
  2. How do the challenges affect the growth of the textile company?
  3. Are there any possible management solutions to the challenges faced by DA VIVA Textiles ltd?

 

  1. Scope of the Study

The study is limited to the growth challenges and management of DA VIVA Textile Company in Ibadan, as a case study. The findings and recommendations from the study will not be used as a reference for all indigenous companies in Nigeria as the researcher could not reach out to more indigenous companies in Nigeria due to various issues such as inadequate time and finances.


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Paper Information

Format:ms word
Chapter:1-5
Pages:50
Attribute:Questionnaire, Data Analysis
Price:₦3,000
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