Influence of Socio-Cultural Environmental Factors on Business Performance

Abstract:

There are things, events, or situations that occur that affect the way a business operates, either in a positive or negative way. These things, situations or events that occur affect the organizational performance in either positive or negative ways are called driving forces or environmental factors. This study thereby aims at studying the impact of socio-cultural environmental factors on business performance using International Breweries Plc., Ilesha, Osun State, Nigeria as a case study. Sample of 40 respondents derived from the company were put for study from various sectors of the company using stratified random sampling. The analysis was done with the aid of a descriptive statistical tool and categorical regression analysis for inference with the aid of IBM Statistical Package for Social Statistics (SPSS) version 23. It was found that socio-cultural environmental factors have a positive impact on business performance. It is therefore recommended that effort should be made to improve on advertisement based on the studied environmental factors identified.