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International Bulletin of Business Administration ISSN: 1451-243X Issue 12 (2011) © EuroJournals, Inc. 2011 http://www.eurojournals.com/IBBA.htm External and Internal Environments of Businesses in Nigeria: An Appraisal Obiwuru Timothy Chidi Department of Actuarial Science, University of Lagos, Nigeria E-mail: sirtimmyo@yahoo.com Oluwalaiye, Olusola Babatunde Department of Economics, Banking and Finance, Babcock University, Nigeria E-mail: falaiyeolusola@yahoo.com Okwu, Andy Titus Department of Economics, Banking and Finance, Babcock University, Nigeria E-mail: aokwu@yahoo.com Abstract This paper appraised business external and internal environments, with specific reference to the Nigerian business environment. The methodology adopted …show more content…

Political considerations are also of significant relevance as they have direct impact on the functioning and success of the business. Political and regulatory changes are usually manifestations of the social and economic conditions and issues. Equally of primary concern to the businesses, their customers and stakeholders are economic considerations which often focus on the direct effects of the exchange of goods and services, the flow of money and the relationships between the participants. Customers are either satisfied, dissatisfied or have a neutral opinion (KPN Report, 2007). Economic considerations also cover indirect implications of economic activities such as hidden costs of transactions and the externalities borne by the society. In this regard, the most crucial economic questions often pertain to environmental-related impacts. Usually, they are some of the multifaceted negative and unintended outcomes of products, processes and operations. The foregoing implies that the environment of a business is the pattern of all the external and internal conditions and influences that affect its life, growth and development. Consequently, since growth

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