THE SIGNIFICANCE OF INFORMATION TECHNOLOGY IN THE BUSINESS OF NIGERIA CHEMICAL CORPORATION
OCHALA YUSUF OJIH
BEING AN ASSIGNMENT
MBA 505 (ICT MANAGEMENET)
MR. OKI, E.U.(MBA)
DEPARTMENT OF MANAGEMENT SCIENCES
UNIVERSITY OF JOS
Since the start of the 21st century, there has been an emphasis economic reform in Africa, which makes regional economies more attractive to foreign investors:
Over the past six years in Nigeria, for instance, the government has pursued a policy of trade liberalization, which makes the operating environment for businesses less rigid and friendlier to foreign investors; as a result, many opportunities for global business operators have been created in Nigeria
The current wave of globalization has been driven by policies that have opened economies domestically and internationally. Taking advantage of new opportunities in these markets, corporations have built foreign factories and established production and marketing agreements with foreign partners.
Success as a global business operator no longer depend on size but on factors such as being able to discern and take advantage of available opportunities building up a thorough understanding the business and socio- cultural environment and familiarity with local business rules regulations and conventions.
This assignment looks at them impact of business alliance, agile or hyper competition, Business process re-engineering, globalization, strategic competitive advantage and support managerial decision making on the business of Nigeria chemical corporation.
Business alliance refers to cooperative agreements between potential or actual competitors. Business alliance runs the range from formal joint ventures, in which two or more firms have equity stakes, to short term contractual agreements in which two or more firms agree to cooperate on a particular task (such as developing a new product), collaboration between competitors is fashionable; recent decades have witness an explosion in the number of business alliances.
Once a partner has been selected and an appropriate alliance structure has been agreed on, the task facing the firm is to maximize its benefits from the alliance. As in all international business deals, an important factor is sensitivity to cultural differences. Many differences in management style are attributable to cultural differences, and managers need to make allowances for these in dealing with their partners.
Managing an alliance successfully requires building interpersonal relationships between the firm’s managers (building trust), or what is sometimes referred to as relational capital. The belief is that the resulting friendship helps build trust and facilitate harmonious relations between the two firms. Personal relationships also foster an informal management network between the firms.
Managing an alliance successfully also requires learning from partners. Academic have argued that the major determinant of how much acquiring knowledge a gains from all alliance is its ability to learn from its alliance partner. To maximize the learning benefits of an alliance, a firm must try to learn from its partners and then apply the knowledge within its own organization. It has been suggested that all operating employees should be well brief on the partner strength and weaknesses and should understand how acquiring particular skills will bolster their firms competitive position. However, to achieve this, the managers involved in the alliance should educate their colleagues about the skill of the alliance partner.
Agile competition is the ability of a company or firm to profitably operation in a competitive environment or continual and unpredictable changes in customer opportunities. Business process reengineering and its reliance on core competencies and process...
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