SWOT Analysis of the Business Environment

 Every country has its own business environment, just as every organization has its own
set culture and business surroundings. While undertaking a business locally or abroad, the
managers or CEOs of the organizations have to account for and consider all the external and
internal as well as macro and microeconomic factors, which are likely to contribute to the
success or failure of the business. Managing a business in the home country seems to be easier
than going global; however, there are certain factors responsible for improving or hampering the
competitiveness of the business operations, both at home and abroad. These factors are
sometimes controllable but mostly the factors like inflation, unemployment, and those which
take place due to the boom-and-bust of economic conditions are uncontrollable. The developing
or the Third World countries mostly have to keep these external and internal factors of doing
business in focus, as it may harm their economic condition or spoil their goodwill. For the
purpose of identifying such underlying factors, many tools like SWOT and PEST analyses are
used. They evaluate the hidden forces and enable the country or organization to judge their
vulnerability of success or failures against those factors.
This essay would outline and briefly discuss such forces or factors which are to be
considered while doing a business locally and globally.
Business Environment of Nigeria
Nigeria is a country located in West Africa and has thirty six states. It is the eighth most
populous country in the world and stands as the most populous country in Africa. As far as the
economy and business of Nigeria is concerned, the country has a fastest growing economy and is
an attractive business location. Nigeria has been one of the most prominent members of the
SWOT