Most business issues discussed world wide are usually more relevant to the bigger economies of the world rather than those of the less developed countries. This is in spite of the excellent growth markets in the third world countries, as most products in the more developed countries have entered the matured state. The telecom industry is a good example of an industry that has thrived in spite of a hostile third world investment climate. Telecoms is now the third largest contributor to Nigeria’s Gross Domestic product (GDP).
The success story is tied directly to the aggressive investment posture of the mobile telephone industry there, where practically all the infrastructure had to be provided privately. In spite of this, the market there remains very profitable with Nigerian subscribers accounting for the largest subscriber base in both MTN, and Zain international networks. This paper however presents his suggestions on how to get around the high production cost, which applies to most industries in the third world.
While it is understood that good infrastructure and a conducive business climate can help attract investments, the biggest markets in the third world may not necessarily reside it those areas.
Furthermore, business culture, and other issues are peculiar to some third world countries and cannot attract significant discussion in most international business journals.
Those markets around the third world need to be identified for sustained growth in many industries to alleviate the effect of the financial meltdown currently being experienced world wide.
More insight into business issues and practices in this part of the world therefore, should add valuable knowledge into international business management practice.