CULTURAL ISSUES ABOUT DOING BUSINESS IN NIGERIA: CASE STUDY FOR THURMO OY.

CULTURAL ISSUES ABOUT DOING BUSINESS IN NIGERIA: CASE STUDY FOR THURMO OY. A RESEARCH PROJECT TOPIC ON BUSINESS MANAGEMENT

ABSTRACT

This thesis is an assignment that was given as a result of Eximin Seminar held in Vasaa on 15 January 2010 by Thurmo Oy, a Finnish company that manufactures a product known as Thurmo Stop Leak used for repair and sealing of leakages in car radiators and engine block. The company intends to expand its market through the introduction of the product into the Nigerian market. This necessitated for a research on how to manage and conduct a successful business in Nigeria against the cultural diversities in the country. It was deemed very important that a research should be conducted to give a road map or reliable reference on how to manage the cultural diversities in Nigeria.

The thesis focused on creating a reference hand book for Thurmo Oy, analyzing different cultures in Nigeria, elements of inter cultural communication, culture shock and its stages; reasons for management failures in Africa and possible management theories and practices that could be practically applicable in Nigeria. Comparisons were drawn between Finnish and Nigerian culture, also concepts like Nigerian moral and cultural values were evaluated and global standard business etiquettes. Furthermore, notes were given on etiquette about doing business in Nigeria. The thesis finding shows that there is market for Thurmo Oy in Nigeria. Recommendation where also given to Thurmo Oy base on the information gathered from the respondents during the research on where to start the introduction of the product in Nigeria and potential market group to target.

1 INTRODUCTION

This thesis is an assignment from Thurmo Oy, a Finnish company that is located at Tulkinkuja 3, Espoo, Finland. The Company manufactures a product called Thurmo Stop Leak, used for the repair of car engine radiators, cracked engine blocks and metal water cans. The product has been in existence for the past 40years and has proved to be efficient.

CULTURAL ISSUES ABOUT DOING BUSINESS IN NIGERIA: CASE STUDY FOR THURMO OY. A RESEARCH PROJECT TOPIC ON BUSINESS MANAGEMENT