Select Currency
Translate this page

A CRITICAL ANALYSIS OF THE CAUSES OF BUSINESS FAILURE IN NIGERIA AND THEIR POSSIBLE SOLUTIONS

Format: MS WORD  |  Chapter: 1-5  |  Pages: 67  |  965 Users found this project useful  |  Price NGN3,000

  DOWNLOAD THE FULL PROJECT

A CRITICAL ANALYSIS OF THE CAUSES OF BUSINESS FAILURE IN NIGERIA AND THEIR POSSIBLE SOLUTIONS

 

CHAPTER ONE

INTRODUCTION

1.0   BACKGROUND OF THE STUDY

Business is absolutely a complex activity. This is because it involves a lot of technicalities ranging from the task of planning to control of such plans in order to achieve the desire objectives of profit maximization. It is in view of this, that this study is mainly centered on the floating of a business to a stage where it finds it difficult to keep it’s head above water. In the late 70s business was in its period of boom, the economy was doing well at that point in time and the exchange rate was appreciable within this period. International trade was easy as a result of lesser trade restrictions and foreign exchange control. During this period, Faith printing press was a beneficiary of the prevailing policies such as the importation of papers and other printing materials. These goods were usually tax free by the agencies concerned, as a result of the significance the government attaches to the publishing sector and the clearance procedures at the port were effective and efficient then.

In the late 80’s as a result of the military take-over, various decrees and policies came into place. The economy became unbearable for the citizens and their purchasing power became very low, thereby forcing business not to live up to their required billing. What followed was that industries started operating on short run, and later businesses started folding up. The various trade restrictions, VAT policies on goods imported did not help matters. The result effect of all these, was folding up of businesses. Against the business affected was then within our locality the -Faith printing press. The concerns shown people in the locality spearheaded an agenda to resuscitate the company and prevent it from total collapse. The process of doing this proved difficult due to the extent of funds require to source for foreign exchange needed for the importation of raw materials there were other problems that seem intractable. But the people and company unite make persistence efforts to resuscitate the company but the more difficult problems that resulted, Motivated an interest to study the problems of business failure and the possible solutions.

1.1   HISTORICAL BACKGROUND OF FAITH PRINTING PRESS

Faith printing press is a sole proprietorship business. It is own by Chief Gabriel O. Faith. It was established on 20th August 1969 and was situated at V.V.I Lagos/Keffi Street, Uyo.Faith printing press was set-up with the objective of providing the best quality printing jobs to customers at affordable prices and at the due appointed time. At the early life of the press, it started with letterpress and binding machine. Namely:  Adana, Letterpress Heidelberg and Cutting Machines. In the course of expansion, the press relocated to N.C-.3 Oshogbo Road, Uyo in 1979. The press increased its machineries by purchasing Rota prints, plate maker, camera, and kond. During this period the press has increased its area of specialization from letter press to offset printing.

In 1985, the press moved to J.11 main street Badarawa Uyo and finally relocated to its permanent site V.V. 15 Nassarawa Road, Uyo in June 1993. in its present site, it has acquired additional machines such as multilith 1850,   Stitching machine, computers and Ruling machines. This organization is engaged in the publishing of companies Annual reports, text-books, invoices, Receipts calendars, invitation cards, Business cards e.t.c. Faith printing press is an organization worthy to be emulated, Judging by its achievement within the period of its existence. The organization has render a lot of its services to prominent companies & government parastatals within this country, among them are: Nitel Headquarters- Lagos, National electric power authority Uyo, Uyo state water board, Ahmadu Bello University Teaching Hospital, Uyo, Bayero University Kano, Nice Top papers industries Uyo etc.

Below is a sample of what Faith printing press Organizational chart should look like.

Managing    Director

Press      maintenance     

Manager  manager/ engineer

Production

Cashier

Cashier Receptionist 

Lithographer printing section  Finishing section With And  And Apprentices Apprentices  Apprentices

Drivers Gate men                                               

1.2     STATEMENT OF THE PROBLEM

Business entrepreneurs today are making a lot of efforts in order to make their investment a perpetual going concern. Every means available at their disposal are being made available terms of capital base sophisticated equipments etc so as to meet-business demands and sustain the completive market environment. However inspite of these tremendous effort businesses are still failing and these are owing to various factors that pose myriads of problems.

1.3   STATEMENTS OF HYPOTHESIS

The following hypothesis has been formulated to serve as a guide for this study:-

1.  That efficient management of resources could not lead to business failure of Faith printing press

2.  That inefficient management of resource could lead to business failure in Faith printing press.

1.4   OBJECTIVES OF THE STUDY

This study intends to achieve the following objective

i.   To find out how Faith printing press should operate to avoid failure.

ii. To examine the implications of government economic policies on the survival or failure of Faith printing press.

iii. To find out and how to avoid business collapse with reference to Faith printing press

iv. To examine the use and control of resources in Faith printing press.

1.5   SIGNIFICANCE OF THE STUDY

This study is significant in that its will also identify possible mistakes if any, which could lead to business failure. It will also point out possible solutions to business failure with reference to Faith printing press, Uyo. It will be also investigate some important factors to be considered before setting up a business and those that will be implemented in the course of business. Finally, the study will be useful to the management of Faith printing press, Uyo as it will help in tackling the problems militating against the operations of the company.

1.6    SCOPE AND LIMITATIONS OF THE STUDY

This study is untaken to find out the fundamental obstacles of business failure and possible solutions for a sustainable economic development with a case study of Faith printing press Uyo.

  DOWNLOAD THE FULL PROJECT

Not What You Are Looking For?



For QUICK Help Call Us Now!

+234 813 2926 373

+234 701 5050 881


Here's what our amazing customers are saying

Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Gbadamosi Solomon Oluwabunmi
Lasu
Swift delivery within 9 minutes of payment. Thank you project master
Excellent
JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
MATTHEW NGBEDE
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Excellent
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Excellent
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Excellent
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.
Excellent

HOW TO GET YOUR COMPLETE PROJECT INSTANTLY

  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on 0813-292-6373 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.

FREQUENTLY ASKED QUESTIONS

How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: (+234) 813-292-6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!