Adaptability and Capability Towards Business Opportunities Threats and Internal Resources as Key Success

Abstract

Thailand is the biggest exporters of rice to Nigeria and the famous Thai rice has become a staple household name in Nigeria. The Nigerian rice consumers prefer Thai rice than any other rice even the Nigerian local rice, this is why some Nigeria rice business exporter choose the challenging opportunities and threats to operate their business in Bangkok Thailand over other ASEAN countries. It was found that no any researcher have studies about this concern. The qualitative approach research were conducted aiming to study the Nigerian rice business adaptability towards business opportunities, threats and capability to utilize internal resources as the key success factors leading to the decisions to operate the business in Bangkok Thailand. This research was conducted in Bangkok Thailand to obtain the desired research result, 25 research respondents were selected from target group of Nigerian rice business owners, including 15 exporter-importer and 10 trading companies participant who are operating the rice business for the past 10 years in Bangkok Thailand. Based on the result of this studied, the researcher focus on the strongest variables such as: political certainty, Government support policy in Thailand, higher demand, economy, import and export trading company, government policy in Nigeria, exchange rate, and influx of competitiveness as adaptability towards business opportunities and threats were as value chain, differentiation strategy, marketing strategy, cost leadership and financial as capabilities towards internal resources as the key success factor. As of managerial implication what the Nigerian rice business should concern to business in Thailand were. Government support policy, higher demand, political certainty, economy, and exchange rate including Nigerian Government policy on rice, influx of competitiveness, differentiation strategy including value chain, marketing strategy, and financial strategy.