You miss 100% of the opportunities you do not exploit : A comparative study on how multi-national B2B’s manage risks and exploit opportunities in Ghana and Nigeria
Abstract: The past decade's globalisation has become an increasingly important topic in international business. Firms, therefore, search for business opportunities in new markets, where the aim is to increase revenue. However, many of the world’s developed economies are becoming more saturated, which leads to firms looking for opportunities in emerging countries. Recent studies and statistics indicate that the West-African region is developing thus leading to increased buying power and population growth. The purpose of this thesis is to research how firms can exploit opportunities which derive from the development in the West-African market, and sub-sequentially how the risks are managed. This study is conducted with a qualitative research method with an abductive approach based on eight MNC’s with experience from Ghana and Nigeria. Due to the lack of previous research on especially how firms exploit opportunities, it was key for the authors to go back and forth between empirical findings and the literature review to achieve a holistic view of the topic and find gaps in the existing literature. The authors further have created a conceptual framework based on previous literature which provided themes combined with the operationalisation to answer the research questions. The analysis discusses the existing literature combined with the empirical findings and the authors’ thoughts in the context of West-Africa. Lastly, a concluding chapter with results, theoretical- and practical implications, limitations, societal contribution and suggestion for further research is presented. The result of the thesis has provided further knowledge of how firms exploit opportunities and manage risks as well as how important the network is for firms entering West-Africa. The most significant finding shows that a firm needs to access the correct network upon entering Ghana and Nigeria in order to exploit any opportunity. The authors suggest that managers need to access the correct network via an agent providing them with local specific knowledge to overcome a lack of knowledge and initial risks. Further building upon the initial agents’ network will enable them to explore further opportunities within the West-African region.
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