Considering the under
listed situation in Nigeria, we were able to analyzed some trends and extrapolate the implications of such in strategy formulation within companies (organizations). The factors are listed below:
a. Growing size of middle class in Nigeria
b. Rising population of the youth
c. Crisis in higher education sector
d. Spread of internet culture
e. Deplorable state of public utilities (such as road network and power)
a. Growing size of middle class in Nigeria: The growing size of middle class in
Nigeria is an opportunity to an organization in formulating strategies that
could yield positive results hence strengthens their sales. Middle class are
those groups of persons in the country that is well to do. It implication is to
enable organizations formulate strategies that will meet its target market.
Thus; what to produce, who to produce, and so on.
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b. Rising population of the youth: With the rising population of the youth, both graduates and
undergraduates, organizations have opportunity to strengthen its work force by
formulating strategy. The implication is that, organizations have the
opportunity to hire both skilled and unskilled labour for production process.
c. Crisis in higher education sector: Continuous strike in higher education settings comes as a
result of crisis in its affairs with labour union, hence policy formulation
should be centered upon man power that are of certain specialty or study which
the organization requires to accomplish task. Also formulation of policies
should also be centered upon issue of better certificate between Higher
National Diploma.
d. Spread of internet culture: The world has become a global village. For organization to
positively implement their formulate strategies, they must be conversant with
the fast growing internet culture of the world firming into a global village.
Hence strategies should be built around technologies and trending innovation so
as to be left behind in the global world. This gives organizations a leverage
over it competitors.
e. Deplorable state of public utilities (such as road network and power
electricity): The
organization should be responsible to the host community. Thus; organization
should formulate policies so as to make their environment a better place for
their organization and also the host community to envelop a win-win situation
between the company and its outside to serve the environment and community.
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