Business Environmental Factors: Implications on the Survival and Growth of Business Organisations in the Manufacturing Sector of Lagos Metropolis

Abstract

The research work focused on the implication of the business environmental factors on the survival and growth of business organisations in the manufacturing sector with reference to Lagos metropolis of Nigeria. The study identified some environmental factors that were peculiar to the business organisations in the manufacturing sector vis-a-vis their significant impact through the administered questionnaires to employees of selected business organisations and inhabitants of three senatorial district that constitute Lagos metropolis. Electricity, government policies and fraudulent practices were found as factors critical with severe impact on the survival and growth of business organisations in the manufacturing sector among other factors which was adduced as the underlying rationale behind exodus of manufacturing organisations to the neighbouring countries. The use of Z value of 1.96 at 0.05 level of significance further confirmed the impact of each of the environmental factors on the survival and growth of business organisations and concluded that these factors signified impending danger that may impede the survival of these business organisations and make growth an impossible task if left on, thus recommended among others that the present arrangement (policy) of centralising electricity which has made the federal government to enjoy monopoly should be jettisoned in order to make way for devolution and alternative to power generation aside the use of generator which has made operation cost to keep increasing.