Abstract
The pre-capitalization banking in Nigeria was characterize by poor research base, low investment in training and development; hence, leading to incessant distress and massive liquidation. The main focus of this paper is therefore to examine the relationship between research and growth in the industry. The research is descriptive in nature and based strictly on secondary data. Research finding revealed that inadequate research is one, but not the only causes of the downward trend in the industry. Other causes include institutional weakness/economic conditions, rapid changes in government policies among others. A number of possible solutions were proffered, this include institution of compulsory research and development activities in banks to be supervised by Nigeria Deposit Insurance Corporation (NDIC). Key words: Pre-capitalization, research and growth, economic conditions.
Highlights
Business by nature is human activities occurring within a social framework and involving a large number of people who join part of the social order
The physical world forms a total environment in which the business must function consistently with the goals convictions and aspiration of the society as a whole
Firms within the industry can develop proactive responses aimed at changing the business environment as well as taking measures to hedge against risk
Summary
Business by nature is human activities occurring within a social framework and involving a large number of people who join part of the social order. The physical world forms a total environment in which the business must function consistently with the goals convictions and aspiration of the society as a whole. Any business activity participated by individuals or group of individuals is usually controlled by this environment. Competition is getting tougher than before and survival within business depends on the degree of adaptation to the rapidly changing circumstances. Firms within the industry can develop proactive responses aimed at changing the business environment as well as taking measures to hedge against risk. Responses expected are through pragmatic research which could lead to, among others, independent action in the form that follows: 1. Responses expected are through pragmatic research which could lead to, among others, independent action in the form that follows: 1. Competitive aggression
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