Business sustainability through e-commerce: a myth or reality in Nigeria
Abstract
A succinct exploration of business sustainability via an e-commerce platform was examined in the study. Its myth and reality permeate its adoption, use, and acceptability within the context of our economic, social, and environmental assumptions were also validated. To achieve its aim, exploratory methodology, which compared benefits and challenges among the three main elements – business, users, and authority; in the application of the e-commerce platforms and channels in the country was examined. The result showed mixed outcomes. On one side, there are huge benefits to businesses in adopting e-commerce while on the other, challenges such as optimal patronage due to cultural trust gaps, user-confidence, poor connectivity, and government selective policy drive. Based on this outcome, it is concluded that; business sustainability via e-commerce in the country is relatively weak and can be improved upon if, end-users policy drive is taken into serious consideration.
Keyword : business, e-commerce, ICT, sustainability, internet, exploratory
How to Cite
Akintoye, I. R., Ajayi, M., Joshua, A., & Okunlola, A. F. (2022). Business sustainability through e-commerce: a myth or reality in Nigeria. Business: Theory and Practice, 23(2), 408–416. https://doi.org/10.3846/btp.2022.16657
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Lawal, A., & Ogbu, C. (2015). E-commerce, problem and prospects in Nigeria. International Journal of Scientific Engineering and Applied Science (IJSEAS), 1(3), 1–7.
Li, B., & Piachaud, D. (2019). Technological innovations and social development in Asia. Journal of Asian Public Policy, 12(1), 1–14. https://doi.org/10.1080/17516234.2018.1546419
Mahjan, R., & Bose, M. (2018). Business sustainability: Exploring the meaning and significance. IMI Konnect, 7(2), 3–13.
Macchion, L., Moretto, A. M., Caniato, F., Caridi, M., Danese, P., & Vinelli, A. (2017). International e-commerce for fashion products: What is the relationship with performance? International Journal of Retail & Distribution Management, 45(9), 1011–1031. https://doi.org/10.1108/IJRDM-11-2015-0171
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Nnaemeka, E. (2011). Is Africa Ready for electronic commerce? A critical appraisal of the legal framework for e-commerce in Africa. European Journal of Law Reform, 550–576.
Olah, J., Kitukutha, N. Haddad, H., Pakurar, M., Mate, D., & Popp, J. (2018). Achieving sustainable e-commerce in environmental, social and economic dimensions by taking possible trade-offs. Sustainability, 11(89), 1–22. https://doi.org/10.3390/su11010089
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Scarcella, L. (2019). E-commerce and effective VAT/GST enforcement: Can online platforms play a valuable role? Computer Law & Security Review, 36, 105371. https://doi.org/10.1016/j.clsr.2019.105371
Theyel, G., & Hofmann, K. H. (2015). Environmental practices and innovation performance of US small and medium enterprises. Journal of Manufacturing Technology Management, 26(3), 333–348. https://doi.org/10.1108/JMTM-07-2012-0070
Tonello, M., & Singer. T. (2015). Sustainability Practices 2015. The Conference Board. https://www.conference-board.org/pdfdownload.cfm?masterProductID=9311
United States of America Census Bureau. (2016). The growth of E-commerce, Q1 2004-Q1 2016. USCB.
Verkijika, S. F. (2018). Factors influencing the adoption of mobile commerce applications in Cameroon. Telematics and Informatics, 35(6), 1665–1674. https://doi.org/10.1016/j.tele.2018.04.012
Yakasai, A. M. (2017). The relevance of ecommerce in Nigeria. In Northwest business and entrepreneurship development review, Section III: Marketing (chapter 6). ResearchGate.
Yang, Z., Shi, Y., & Yan, H. (2016). Scale, congestion, efficiency and effectiveness in ecommerce firms. Electronic Commerce Research and Applications, 20(1), 171–182. https://doi.org/10.1016/j.elerap.2016.07.003
Akintoye, I. R. (2019). Accounting: A mismanaged concept requiring urgent redefinition. In Babcock University 28th Inaugural Lecture. Inaugural Lecture Series. Babcock University.
Al-Tuwaijri, S. A., Theodore, E. C., & Hughes, K. (2004). The Relations among environmental disclosure, environmental performance, and economic performance: A simultaneous equations approach. Accounting, Organizations and Society, 29(5–6), 447–471. https://doi.org/10.1016/S0361-3682(03)00032-1
Alyoubi, A. A. (2015). E-commerce in developing countries and how to develop them during the introduction of modern systems. Procedia Computer Science, 65(2), 479–483. https://doi.org/10.1016/j.procs.2015.09.127
Ayalew, E., Lessa, L., & Yigzaw, M. (2010). E-commerce readiness in Ethiopia: A macro-level assessment. In 2020 Proceedings of Americas Conference on Information Systems (AMCIS)’ (paper 1130, pp. 76–86). Springer. https://doi.org/10.1007/978-3-642-15141-5_7
Babajide, A. A., Okunlola, F. A., Adedoyin, L., Okafor, T., & Isibor, A. (2020). Analysis of banks profitability: Domestic and foreign comparison. WSEAS Transactions on Business and Economics, 17, 946–955. https://doi.org/10.37394/23207.2020.17.93
Bergquist, A. (2017). Dilemmas of going green: Environmental strategies in the Swedish mining company Boliden 1960–2000. In H. Berghoff & A. Rome (Eds.), Green capitalism? Business and the environment in the twentieth century (pp. 149–171). University of Pennsylvania Press. https://doi.org/10.9783/9780812293883-010
Bitrus, J. (2019). The roles of information and communication technologies (ICTS) and ecommerce as agents of Nigeria’s economic development: Review of challenges and prospect. Wireless Engineering and Technology, 1(1), 41–54. https://doi.org/10.4236/wet.2019.103004
Central Bank of Nigeria. (2020). Statistical bulletin. www.cenbank.org
Clement, J. (2020). Worldwide digital population as of April 2020. https:www.statissta.com/statistics/617136/digital-population-worldwide
Dai, Y. N., Viken, G., Joo, E., & Bente, G. (2018). Risk assessment in e-commerce: How sellers’ photos, reputation scores, and the stake of a transaction influence buyers’ purchase behaviour and information processing. Computers in Human Behavior, 84(1), 342–351. https://doi.org/10.1016/j.chb.2018.02.038
Deljavan Anvari, R., & Norouzi, D. (2016). The impact of e-commerce and R&D on economic development in some selected countries. Procedia – Social and Behavioural Sciences, 229(1), 354–362. https://doi.org/10.1016/j.sbspro.2016.07.146
Forrester. (2015). US online retail sales, 2015–2020. Forrester Research Q4. https://www.forrester.com/report/Forrester-Research-Online-Retail-Forecast-2015-To-2020-US-Q4-2015-Update/RES131055
Hallikainen, H., & Laukkanen, T. (2018). National culture and consumer trust in ecommerce. International Journal of Information Management, 38(1), 97–106. https://doi.org/10.1016/j.ijinfomgt.2017.07.002
Hayes, A. (2020). Business. www.investopedia.com
Hussung, T. (2016). From storefronts to search engines: A history of e-commerce. https://online.csp.edu/blog/business/history-of-ecommerce
Ibam, E. O., Boyinbode, O. K., & Afolabi, M. O. (2018). e-Commerce in Africa: The case of Nigeria. EAI Endorsed Transactions on Serious Games, 4(15), 153536. https://doi.org/10.4108/eai.5-1-2018.153536
Ibikunle, O. (2013). E-Commerce in developing nations: Issues and challenges. Consumer attitude in the Nigerian market. In Arcada (pp. 1–67). https://www.theseus.fi/bitstream/handle/10024/65725/Thesis-Ibikunle%20Oluwaseun.pdf?sequence=1&isAllowed=y
International Telecommunication Union. (2019). The World in 2020: ICT facts and figures. https://www.itu.int/en/ITU-D/Statistics/Pages/facts/default.aspx
Jain, A., Pankaj, K. J., & Rezaee. Z. (2016). Value relevance of corporate social performance: Evidence from short selling. Journal of Management Accounting Research, 28(2), 29–52. https://doi.org/10.2308/jmar-51439
Jankalová, M., & Jankal, R. (2018). Sustainability assessment according to the selected business excellence models. Sustainability, 10(1), 3784. https://doi.org/10.3390/su10103784
Jere, N. R., Thinyane, M., & Terzoli, A. (2014). Augmenting an e-commerce service for marginalized communities: A reward-based marketing approach. Telkom Centre of Excellence in Developmental e-Commerce, Department of Computer Science, FortHare University, South Africa.
Kothari, C. R., & Gaurav, A. (2015). Research methodology: Methods and techniques. Indian.
Krstić, I. I., Ilić, A., & Avramović, D. (2018, 6–7 December). The three dimensions of sustainable development: Environment, economy and society. In The Conference of the series Man and Working Environment. 50 Years of Higher Education, Science and Research in Occupational Safety Engineering. Niš, Serbia.
Kutz, M. (2016). Introduction to E-commerce: Combining business and information technology. In Contextual intelligence (pp. 1–5). Palgrave Macmillan. https://doi.org/10.1007/978-3-319-44998-2_1
Lawal, A., & Ogbu, C. (2015). E-commerce, problem and prospects in Nigeria. International Journal of Scientific Engineering and Applied Science (IJSEAS), 1(3), 1–7.
Li, B., & Piachaud, D. (2019). Technological innovations and social development in Asia. Journal of Asian Public Policy, 12(1), 1–14. https://doi.org/10.1080/17516234.2018.1546419
Mahjan, R., & Bose, M. (2018). Business sustainability: Exploring the meaning and significance. IMI Konnect, 7(2), 3–13.
Macchion, L., Moretto, A. M., Caniato, F., Caridi, M., Danese, P., & Vinelli, A. (2017). International e-commerce for fashion products: What is the relationship with performance? International Journal of Retail & Distribution Management, 45(9), 1011–1031. https://doi.org/10.1108/IJRDM-11-2015-0171
Mirescu, S. V. (2010). The premises and the evolution of electronic commerce. Journal of Knowledge Management, Economics and Information Technology, 1, 1–5.
Nidumolu, R., Simmons, P. J., & Yosie, T. F. (2015). Sustainability and the CFO challenges, opportunities and next practices. Corporate EcoForum and World Environment Centre.
Nisar, T. M., & Prabhakar, G. (2017). What factors determine e-satisfaction and consumer spending in ecommerce Retailing? Journal of Retailing and Consumer Services, 39, 135–144. https://doi.org/10.1016/j.jretconser.2017.07.010
Ndonga, D. (2012). E-Commerce in Africa: Challenges and solutions. African Journal of Legal Studies, 5(1), 243–268. https://doi.org/10.1163/17087384-12342009
Nnaemeka, E. (2011). Is Africa Ready for electronic commerce? A critical appraisal of the legal framework for e-commerce in Africa. European Journal of Law Reform, 550–576.
Olah, J., Kitukutha, N. Haddad, H., Pakurar, M., Mate, D., & Popp, J. (2018). Achieving sustainable e-commerce in environmental, social and economic dimensions by taking possible trade-offs. Sustainability, 11(89), 1–22. https://doi.org/10.3390/su11010089
Ogbo, A., Ugwu, C. C., Enemuo, J., & Ukpere, W. I. (2019). E-commerce as a strategy for sustainable value creation among selected traditional open market retailers in Enugu state, Nigeria. Sustainability, 11, 4360. https://doi.org/10.3390/su11164360
Okoye, H. I., & Obi, C. A. (2015). Development of e-commerce in Nigeria: The entrepreneurial opportunities and challenges. IOSR Journal of Business and Management, 17(5), 34–39.
Okunlola, F. A., Alatise, M. A., & Ogunniyi, O. R. (2020a). Financial inclusion for sustainable economy: Empirical evidence from Nigeria. WSEAS Transactions on Business and Economics, 17(2), 205–214. https://doi.org/10.37394/23207.2020.17.22
Okunlola, F. A., Babajide, A. A. & Isibor, A. (2020b). Empowering women through micro finance: Empirical evidence from Ibadan, Oyo state, Nigeria. Academy of Entrepreneurship Journal 26(1), 1–12.
Qi, J., Zheng, X., & Guo, H. (2019). The formation of Taobao villages in China. China Economic Review, 53(1), 106–127. https://doi.org/10.1016/j.chieco.2018.08.010
Rezaee, Z. (2017). Corporate sustainability: Theoretical and integrated strategic imperative and pragmatic approach. The Journal of Business Inquiry, 16(1).
Rome, A. (2017). The ecology of commerce: Environmental history and the challenge of building a sustainable economy. In H. Berghoff & A. Rome (Eds.), Green capitalism? Business and the environment in the Twentieth century (pp. 13–31). University of Pennsylvania Press. https://doi.org/10.9783/9780812293883-002
Saraswati, B. D., Maski, G., Kaluge, D., & Sakti, R. K. (2022). The impact of financial technology on consumption hypothesis: A partial adjustment model. Business: Theory and Practice, 23(1), 109–116. https://doi.org/10.3846/btp.2022.10789
Scarcella, L. (2019). E-commerce and effective VAT/GST enforcement: Can online platforms play a valuable role? Computer Law & Security Review, 36, 105371. https://doi.org/10.1016/j.clsr.2019.105371
Theyel, G., & Hofmann, K. H. (2015). Environmental practices and innovation performance of US small and medium enterprises. Journal of Manufacturing Technology Management, 26(3), 333–348. https://doi.org/10.1108/JMTM-07-2012-0070
Tonello, M., & Singer. T. (2015). Sustainability Practices 2015. The Conference Board. https://www.conference-board.org/pdfdownload.cfm?masterProductID=9311
United States of America Census Bureau. (2016). The growth of E-commerce, Q1 2004-Q1 2016. USCB.
Verkijika, S. F. (2018). Factors influencing the adoption of mobile commerce applications in Cameroon. Telematics and Informatics, 35(6), 1665–1674. https://doi.org/10.1016/j.tele.2018.04.012
Yakasai, A. M. (2017). The relevance of ecommerce in Nigeria. In Northwest business and entrepreneurship development review, Section III: Marketing (chapter 6). ResearchGate.
Yang, Z., Shi, Y., & Yan, H. (2016). Scale, congestion, efficiency and effectiveness in ecommerce firms. Electronic Commerce Research and Applications, 20(1), 171–182. https://doi.org/10.1016/j.elerap.2016.07.003