BUS 6100 - Milestone 2

1
Milestone 2
Bolanle Tinuke Omodehin
Nexford University
BUS 6100 Global Business
Dr Bill Reed
March 10, 2023
Classification: Internal
2
The name of my company is S&T Stitches, and it is a unique fashion home that design
elegant corporate outfits, Industrial wears, and causal outfits for adults. The business
production is done locally using sustainable materials that are sources locally.
Innovation
Innovation is a way of creating new ideas or getting solution for a company’s systems,
products, services, or strategies. Innovation can be as little as creating a new way of doing
things effectively or as big has creating a new products or services. A business needs to
embrace innovation to continue existing in a competitive market (Park. C. October 24, 2016).
Innovation will be implemented in all relevant aspect of the business where processes and
services require change. The company will innovate to increase productivity to increase value
for its customers. The company will implement innovation to find new markets, get ahead of
competitors and develop a good brand image for the company (Weil.A. August 23, 2017).
Economic Indicators
An Economic Indicator is a piece of economic data that is of macroeconomic scale, and it is
used by analyst to interpret current or future investment possibilities. The economic
indicators are usually data released by government and non-profit organization or universities
(Barone.A. June 23, 2021). The economic indicator will enable the company to make
predictions on how the market is fairing. Economic indicators such as employment, inflation
and GDP, not only help predict how an economy is performing but can also predict if the
stock market will increase or decrease in value.
3
Foreign Direct Investment (FDI) is the process where an investor establishes a foreign
business operation or to acquire a foreign business asset. Many emerging economies have
gained a growing economy due to FDI flows. My company will increase FDI in Nigeria by
contributing to create decent and value-adding jobs, improve the skill base of the host
economies and booting competitiveness of domestic firms (Olarewaju. T. December 4, 2018).
One of the indicators that will lead me to believe that my company will succeed in Nigeria is
that the country has maintain its position as the largest economy in Africa with a GDP of
USD 376.3 billion dollars and in 2020 Nigeria was listed among other economies with the
most notable improvement in Doing Business 2020 (Ekeh. J.T, August 5, 2020),
Potential Obstacles/Challenges of FDI in the country
▪ Continuous insecurity challenges
▪ Administrative bottlenecks which cause delay in processes and political issues
▪ Inability for businesses to access foreign exchange
▪ The domestic companies are likely to be affected if they are not competitive
Risk Mitigation of FDI in the country
▪ The company will make sure they can recover their resources in case of any incident
▪ The company will have to create a strategy on how to overcome the issue faced with
foreign exchange
4
Benefits of FDI in the country
▪ Increased productivity
▪ Economic development stimulation
▪ Increased employment and economic boost
▪ Increase in the country’s income
▪ Development of human capital resources
5
References
Barone, A. (2021, June 23). Economic Indicator Definition. Investopedia.
https://www.investopedia.com/terms/e/economic_indicator.asp
Ekeh, J. T. (2020, August 5). The Ease of Doing Business in Nigeria. Www.linkedin.com.
https://www.linkedin.com/pulse/ease-doing-business-nigeria-tochukwu-jude-ekeh/
Olarewaju, T. (2018, December 4). How Nigeria can attract and keep the right kind of
foreign direct investment. The Conversation. https://theconversation.com/how-
nigeria-can-attract-and-keep-the-right-kind-of-foreign-direct-investment-107611
Park, C. (2016, October 24). 8 Ways to Bring Innovation into Your Organisation. Zippia for
Employers. https://www.zippia.com/employer/workplace-innovation/
Weil, A. (2017, August 23). 5 reasons to focus on innovation. UMI. https://umi-
innovation.com/blog/5-reasons-focus-innovation/

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1

Bolanle Tinuke Omodehin

BUS 6100 Global Business

March 10, 2023

An Economic Indicator is a piece of economic data that is of macroeconomic scale, and it is

used by analyst to interpret current or future investment possibilities. The economic

stock market will increase or decrease in value.

economies and booting competitiveness of domestic firms (Olarewaju. T. December 4, 2018).

Potential Obstacles/Challenges of FDI in the country

▪ Continuous insecurity challenges

▪ Administrative bottlenecks which cause delay in processes and political issues

▪ Inability for businesses to access foreign exchange

Risk Mitigation of FDI in the country

Benefits of FDI in the country

▪ Economic development stimulation

▪ Increased employment and economic boost

▪ Increase in the country’s income

▪ Development of human capital resources

Barone, A. (2021, June 23). Economic Indicator Definition. Investopedia.

foreign direct investment. The Conversation. https://theconversation.com/how-

Weil, A. (2017, August 23). 5 reasons to focus on innovation. UMI. https://umi-

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