THE CHALLENGES OF GLOBALIZATION ON E-COMMERCE IN NIGERIA

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THE CHALLENGES OF GLOBALIZATION ON E-COMMERCE IN NIGERIA

Abstract:

Globalization is a process of creating a global market place in which increasingly all nations are forced to participate . Key elements of this process are interconnection of sovereign nations through trade and capital flow, harmonization of the economic rules that govern relationship between these sovereign nations, creating instructions to support and facilitate dependence and interconnection and creation of a global market place. The world as we know it is shrinking, thanks to advancing technology and people around the globe are more connected to one another than ever before. As a result, corporate bodies and individuals the world over are finding themselves in a situation where they have to restructure and reposition themselves in order to efficiently utilize global resources and maximize the gains accruable from the delivery of specialized products and professional services via the global market place,the internet. This method of doing business is termed e-commerce. E-commerce, literally meaning Electronic commerce, has evolved rapidly over the last two decades. It consist primarily of distribution, marketing, buying and selling of products or services and transfer of funds over electronic system such as the internet. It also covers a wide range of business from consumer-based retail sites, through auction and music sites, and corporate sites for business exchanges

THE CHALLENGES OF GLOBALIZATION ON E-COMMERCE IN NIGERIA

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