Economic Globalization and Organizational Performance in Nigeria: A Conceptual Review

Authors

  • UBI. Ije Ubana University of Calabar, Calabar Cross River State, Nigeria
  • OKONGO. John Nsor University of Calabar, Calabar Cross River State, Nigeria
  • OFEM. Obono Oka University of Calabar, Calabar Cross River State, Nigeria

Keywords:

Economic Globalization, International Trade, Diffusion of Technology, Foreign Direct Investment

Abstract

Global changes in economic and business activities have propelled strategic alliances among countries aimed at expanding markets across the globe. This requires catalysts such as Foreign Direct Investment, international trade, and diffusion of technology which are driven by emerging investment policy to serve as predominant factors for improved business performance in Nigeria. Qualitative research was adopted to elicit relevant information which reveals that globalization is a measure to open Nigeria’s economy through a structural adjustment program for international markets. International trade breeds the exchange of raw materials and products between nations as a result of the interchange of products and services. Foreign trade impacts the GDP growth of the country. Diffusion of technology aids in spreading innovation across economies for improves business performance through disseminating technical information, know-how, and adopting new techniques and technologies by diverse users of the product and processes. Privatization promotes FDI which involves the transfer of state-owned enterprises either partly or completely managed by companies or individuals. Nigeria is a market for FDI based on economic liberation policy, Public-Private-Partnership (PPP), and other strategic alliances with multinational companies. It concludes that economic globalization connects different parts of the world to take advantage of lower labor costs in developing economies; leverage technical expertise and experience from the developed world.

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How to Cite

UBI. Ije Ubana, OKONGO. John Nsor, & OFEM. Obono Oka. (2021). Economic Globalization and Organizational Performance in Nigeria: A Conceptual Review. International Journal of Scientific and Academic Research (IJSAR), EISSN: 2583-0279, 1(4), 20–26. Retrieved from https://ijsar.net/index.php/ijsar/article/view/42

Issue

Vol. 1 No. 4 (2021): April-2021

Section

Review Article

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Copyright (c) 2021 UBI. Ije Ubana, OKONGO. John Nsor , OFEM. Obono Oka

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