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Appraisal Of The Problems And Prospects Of Purchasing In Small Scale Business In Nigeria
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1.5 STATEMENT OF HYPOTHESIS
Hypothesis I
Ho: Aqua Rapha (God’s Healing Water) does not practice purchasing concept.
Hi: Aqua Rapha Investment Company practices purchasing concept.
Hypothesis 2:
Ho: Aqua Rapha Investment Company does not carryout purchasing research.
Hi: Aqua Rapha carryout purchasing research.
Hypothesis 3:
Ho: Consumers are not satisfied with the quality of product produced by Aqua Rapha (God’s Healing Water).
Hi: Consumers are satisfied with the quality of product produced by Aqua Rapha (God’s Healing Water)
1.6 LIMITATION OF STUDY
Research
study in Nigeria is best with a lot of problems, which include mass
illiteracy, little supply of reliable secondary data. Prejudice against
the researcher themselves. Under secrecy as well as time and financial
constraints. Many of these limitations were experienced the course of
our study. However, prominent among these limitations were time and
financial constraints. As final year student we had too short time at my
disposal for the study, as I had to combine it with other academic
work. Some problems were therefore encountered in the conduct of the
fieldwork and it was not quite easy to arrange for personal interviews
with the general manager, proprietor or the production manager of the
Aqua Rapha Investment Company. Our insufficient to financial resources
was also a major constraints in limiting the scope of field work at Aqua
Rapha Investment Company, the National Directorate of Employment as
well as the Nigerian Bank of Commerce and Industry Limited (NBCL).
Other
limitations of the study and the inherent short comings in the research
methodology by employed. These limitations not withstanding, it is
believed that the findings and conclusions reached would be useful for
better management of Aqua Rapha Investment Company as well as some other
related small-scale enterprises in Nigeria.
1.7 DEFINITION OF TERMS
The following terms used in this study should be taken to mean the following:
MARKETING:
Purchasing is defined as all-important set of creative human activities
aimed at identifying; anticipating and satisfying human needs and wants
through exchange as efficiently and as effectively as possible.
Purchasing
is located in the realm of human activities; purchasing needs the
degree of intelligence possessed only by human being. Two monkeys cannot
market. It is directed at facilitating and consummating exchange, it
covers both transaction and exchange relationships. The transaction
relationship is a short run affair (transaction is the unit of
measurement of exchanged) whereas the exchange relationship is a more
durable and continuous relationship.
PROSPECTS: Prospect may be
defined as a person or institution who will benefit from your product or
service and who can afford to buy or pay for it.
STRATEGY: Strategy
is a process of planning that involves deciding what the major goals of
the entire organization in its pursuit of their goals.
SMALL
BUSINESS: Small business is any industry which is independently owned
and operated and not dominate in its area of operation. It is requires
at most one man who is not engaged in any other functional work
required.
INDUSTRIALIZATION: Industrialization is the process of
building up a country’s capacity to process raw materials and to
manufacture goods for consumption or further production.
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