THE IMPACT OF ORGANIZATIONAL ENVIRONMENT ON CORPORATE PERFORMANCE

Chukwudi Joseph Okonkwo, Ugwa, Magnus

Abstract


The Nigerian business sector should play a major role in the economic development of the country and the actualization of the Millennium Development Goals. However, its performance indices - profit, capacity utilization and contribution to GDP indicates that some sectors has performed poorly. The general objective of this study is the assessment of the impact of the external environment on the operations of business sector in Nigeria with a view to determining the level of adaptability of the firms and its implications on their corporate performance. Specifically, the study tend to; ascertain the impact of information management on corporate performance of business organizations, to find out the extent to which organizational rigidity contributes to the high level of business mortality, to ascertain the extent to which environment turbulence contributes to the poor corporate performance. The study adopted evolution theory and from the reviewed literature, we discovered that business environment impacts negatively on the corporate performance of business organizations. The implication of the findings is that, given that Nigerian business environment is general hostile; the owners of business organization should adopt appropriate strategies that would enable them to manage environmental turbulence effectively and help minimize the negative effects of environment on their performance. Based on the findings, we conclude that the business environment impacts negatively on the corporate performance of business organizations. We therefore recommend that organizations should make information management a priority, ensure greater heterogeneity of the dominant coalition and should intensify efforts on research and development.


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ISSN : 2251-1547