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Strategies for SME Internationalization and Barriers to Export Performance in Nigerian Agribusiness Industry

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Added on  2019-09-20

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This chapter explores the benefits of internationalization in Nigerian agribusiness industry and highlights the barriers faced by SMEs, including financial, knowledge, resource, procedural, and exogenous barriers. It also discusses the importance of organization readiness and institutional perspective, as well as environmental export support policies for SMEs internationalization. The chapter provides examples from other emerging economies and suggests the use of journals on SMEs internationalization in the research.
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FEEDBACKS ON CHAPTER 2 – LITERATURE REVIEW. 1.Give a few points on “Benefits of Internationalization”.2.Include the use of journals on SMES internationalization in this research chapter of theliterature review.3.Include “Organization Readiness” as a heading explaining it in a short paragraph just before the “Conclusion”.4.Include details of institutional perspective/environmental export support policies and what governments do to aid SMEs internationalization. 5.Don’t focus on Nigeria alone, but also give similar examples of other emerging economies. 6.Give this chapter an appropriate structure with proper headings and sub-headings where necessary.NOTE!!!Highlight all areas corrected in line with the feedback in yellow for easier identification of corrected areas.
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STRATEGIES FOR SMALL AND MEDIUM ENTERPRISE INTERNATIONALIZATION AND BARRIERSOF INTERNATIONALIZATION AND EXPORT PERFORMANCE OF LOCAL AGRICULTURALBUSINESSES IN NIGERIA.Chapter 2. Literature Review.Introduction to The Nigerian Agribusiness industry.Nigeria has the biggest economy in Africa where agriculture remains the largest sector of itsNigerian economy and employs two-thirds of the total labor force, the production hurdles havesignificantly stifled the performance of the sector. Over the past 20 years, value-added percapita in agriculture has risen by less than 1% per cent annually. It has subsistence farming segment which has not stayed aware of quick populacedevelopment. It is found from the history that Nigeria is well in agribusiness management. It isone of the countries which are engaged in the activity of agribusiness. Responding to the needsof the hour it becomes prime importance for the Nigerian Small and medium agribusinessenterprises to go internationalization. It is often found that while planning to internationalize,the process may involve a lot of challenges and barriers. But Nigerian small and medium scaleagricultural based enterprises should respond to the challenges in an effective manner andsome of these barriers can be identified below
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Barriers of SMEs Internationalization.Some example of SMEs barriers are- financial barriers, managerial barriers, industry and firmspecify barriers and so on. The financial barriers thus have been checked as particularlysignificant for the SME where there are the novel products as well as technologies (Cheong,Song, & Hu, 2016). In this respect, from some past research, it has been found that it holds forthe organization as it relies heavily on in case of advanced knowledge as per the instance fromthe research institutes or for the universities. The researchers Kotabe & Murray (2018), in hisresearch conclusion and findings highlighted that it is very important to remove the barriers forinternationalization in an effective manner. It is because removing the barriers by implementingthe strategies as those are needed of the hour to make the small and medium agricultureenterprise effective and healthy (Kotabe & Murray, 2018). It is the Intellectual Property Right (IPRs) which is more significant at this respect. So this area isfound to exist as the considerable body for review. These SMEs needs to check the form of IPRin practice in situations where they employ innovation. Those firms are found significantly inthat respect. So SMEs is needed to check that it is not affected by the financial constraints(Meyer & Peng, 2016). Those firms which are found to engage in both the case of innovation aswell as internationalization is found as the innovation activities which are hampered by thefinancial issues. Nigerian SMEs have thought of new ways or better methodologies for preparing forinternationalization with the objective that they are appealing to the worldwide market. Ittakes an ambitious concentrated firm in Nigeria to present a huge amount of money for
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conveying without considering the high risk portrayed in going abroad and internationalizing.Most SMEs will go to the level of getting loans from the banks, using their homes as assurancesecurity without considering the last result of losing their homes with the true objective ofdeveloping international markets (Brea Solís, Casadesus Masanell, & Grifell Tatjé, 2015).‐‐‐Ambitious centered SMEs in Nigeria can progress along these lines be recognized as firms with acapacity to proactively look for business establishment that is innovative paying little attentionto the risks included. For a firm to have the ability execute its plans to go into foreign markets,the firm needs to have the ability and capacity to internationalize, such as a strong financialbase and business research knowledge on the market they intend breaking into. It is basic forSMEs looking to internationalize to consider its strengths and weaknesses in accordance withthe aims of establishing its business internationally putting into consideration the objectives ofthe business and the changes or level of uncertainty that may arise and alter the business focus.It has been perceived by (Hermannsdottir et. al. 2007) that resourceful performance can becritical in achieving firm execution in a foreign market if the internal and external parts are putin place or considered and put in place. On the other hand, the significance of the entrepreneurial management is found to survive aswell as operate within the firms which are recognized within the entrepreneurship writing. It isthe best way to provide the Entrepreneurial orientation is called the capacity for participatingthe innovative processes for attempting the degree for risky ventures as well as taking part withthe proactive developments. It has been characterized that some Nigerian SMEs are found tothink about the new items as well as administrations for the better approaches of bundling theitems where the goal as they are found to appeal the global purchasers (Meyer & Peng, 2016).
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