EFFECT OF FEASIBILITY STUDY ON LONG-TERM PERFORMANCE IN NIGERIA MANUFACTURING COMPANY (A STUDY OF EMENITE NIGERIA LIMITED)

ABSTRACT This work focuses on effect of feasibility study on long-term performance in Nigeria manufacturing company (a study of Emenite Nigeria Limited). The objectives of the study are to Examine the effect of environmental feasibility on the entrepreneurial success of manufacturing company in Nigeria, Determine effect of market feasibility study on long-term performance in Nigeria manufacturing company especially Emenite Nigeria Limited, Investigate effect of technical feasibility study on the entrepreneurial success of manufacturing company in Nigeria. The study was guided by four key objectives from which appropriate research questions and hypotheses were formulated. The study adopted a descriptive survey design. The research instruments were structured questionnaire. The population of the study was 210, from which a sample size of 138 was determined using Taro Yamane. The sources of data were primary and secondary. Primary data were collected through structured questionnaire while secondary data were gotten from statistical bulletins, electronic journals, theses and dissertation repositories. The primary instrument for data collection was designed on a 5-point Likert scale in line with the objectives of the study. A total of 138 copies of questionnaire were distributed to respondent, out of which 133 copies were correctly filled and returned. Chi-square was used to test the hypothesis. From the findings concise and critical look at this work indicates that a lot of practical issues have been raised and clearly discussed with a view to finding answers. The topic for this research is feasibility studies as a tool for entrepreneur success. From the questions asked and the responses gotten, it was observed that a feasibility study enhances entrepreneurial success, feasibility studies reveal business environment like the political, economic, technological, public opinion and involves cost, and that factors like poor managerial skills, and poor planning, time, cost etc militate against feasibility studies. The report concludes that the role of feasibility studies in the success of a business cannot be overemphasized and therefore ought to be carried in a very careful way so that the implementation will yield positive result and lead to the success of the entrepreneur. Based on the foregoing, we therefore assert that a well conducted feasibility study contribute greatly to entrepreneurial success. Nevertheless, the type of feasibility study matters since environmental feasibility study, Market feasibility study, Technical feasibility study and Economic Feasibility Study has been found to positive significantly effect on entrepreneurial success. The study recommended that the Governments should concentrate on creating policies that will boost the effective feasibility study as this will enable entrepreneurs to work towards examining the area where they want to venture into, thereby improving their overall performance in such area. Entrepreneurs should maintain Market feasibility study which will encourage retention of potential buyer such that it will bring about customer loyalty.