Faculty of Management Sciences

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E-Commerce in Nigeria and Consumers’ Intention to Shop Online
(Journal of Global Economics, Management and Business Research, 2017-04-28) Iriobe, Ofunre
Aims: This study investigated the influence of Perceive Usefulness and Perceive Ease of Use of the internet to shop online (hereafter it will be referred to as Technological Factors), Facilitating Conditions, Attitude, and Trust on consumers’ intention to shop online in Ogun state Nigeria. Study Design: A descriptive survey design was used for this study to examine and explain important factors that are associated with intention to engage in online shopping activities. The reliability test with Cronbach’s Alpha of 0.889 was obtained. The hypotheses formulated was tested using multiple regression analysis. Sample: A survey questionnaire with 25 question items was used to gather data. A total of three hundred and fifty (350) questionnaires were administered using a purposive sampling method, and two hundred and twenty-seven (227) were collected and subsequently analyzed. Results: From the 227 respondents, the study found that there is a significant relationship between behavioural intention to shop online and Technological Factors (p= 0.001), Trust (P= 0.000), Attitude (P= 0.000), except Facilitating Conditions (P= 0.286) with no significant relationship with consumers’ intention to shop online in Nigeria. Conclusion: It concluded that Attitude towards internet usage, Trust and consumers perception towards the usefulness and ease of use of online shopping could play a key role in enhancing the acceptability of online shopping in Nigeria.
E-marketing in Nigeria: Benefits, Challenges and Strategies
(Journal of Asian Business Strategy, 2019-12-17) Iriobe, Ofunre
E-marketing is a marketing philosophy that has transformed the practice of marketing from traditional means to online platforms. It has changed the way and manner firms relate with their customers. Globally, there are variations in the practice and growth of e-marketing. As such, the paper discussed the benefits and challenges of e-marketing in Nigeria. It also examined strategies that can be adopted to enhance e-marketing by reviewing some models with the aim of drawing inferences and a direction for the growth and development of e-marketing in Nigeria. Content analysis was applied by reviewing literature on e-marketing. The paper indicates that the benefits of e-marketing range from global reach to new product development while the major challenges of e-marketing identified are inadequate Internet Infrastructure, cost of getting connected, unreliable power supply, inadequate number of knowledgeable staff and perceived lack of security. Moreover, e-marketing strategy framework comprising the Marketing Mix model, 4S model, Cox and Koelzer model as well as Granitz and Greene model were discussed. The paper concluded that Nigeria needs to improve her information and communications technology especially accessibility to internet infrastructure and security so that businesses and customers can avail themselves of the benefits of e-marketing.
Entrepreneurial Venture and its Components
(Princeton & Associates Publishing Co. Ltd, 2018) Iriobe, Ofunre
Financial Literacy and Financial Inclusion for Entrepreneurship Development in Nigeria
(West African Journal of Business and Management Sciences, 2017-08-17) Iriobe, Ofunre
The study was conducted to determine the importance of financial literacy and financial inclusion on entrepreneurship development with the aim of accessing the knowledge of Nigerian entrepreneurs in respect to financial literacy and the availability of financial services available. Primary data was generated from the use of questionnaire. The survey covered educated entrepreneurs with the minimum of O’levels. A total sample size of 385 respondents were randomly selected from an infinite population. The study employed an ordered probit regression model for the analysis with the help of STATA (14) because both dependent and independent variables in the study are ordered in the context of multivariate latent structural model. The result with Prob> chi2= 0.0000 showed that both financial literacy and financial inclusion influences the growth and development of entrepreneurship in Nigeria. Also, the size of Nigerian businesses and their locations have significant positive impact on the entrepreneurship growth and development in Nigeria. Hence, we conclude that increase in the financial activities in order to ensure financial literacy and financial inclusion of the Nigerian populace will have direct effect on entrepreneurship development in the country. The study identified areas of inadequacies and proposed recommendations to improve the financial literacy level and availability of financial services for entrepreneurs.
Moderating Effect of the Use of eWOM on Subjective Norms, Behavioural Control and Religious Tourist Revisit Intention
(International Journal of Religious Tourism and Pilgrimage, 2019-06-30) Iriobe, Ofunre
Religious activities are a common topic of discussion on various platforms and online forums in Nigeria. These online interactions shape opinions and attitudes of tourist to a religious destination. The use of electronic word of mouth has become a factor in influencing behavioural intention. Hence, this study investigated the relationship between the use of eWOM and tourist revisiting intention to a religious destination and the effect of the use of eWOM on the relationship between Subjective Norm, Perceived Behavioural control and Revisit intention of visitors to religious destinations. The hypotheses for the study was tested using a Hierarchical Regression model. The essence was to examine the effect of each variable on revisit intention as they are entered into the regression equation.
The Nexus between Financial Education and Entrepreneurship Development in Osun State
(4th International Conference on Entrepreneurship and Entrepreneurship Education Institute For Entrepreneurship and Development Studies (IFEDS) Obafemi Awolowo University, Ile-Ife, Nigeria 11th October, 2017-07-07) Iriobe, Ofunre
The study was conducted to examine the nexus between financial education and entrepreneurship development with the aim of evaluating how knowledgeable entrepreneurs are about managing their business finances in an efficient manner. Primary data was generated from the use of questionnaire. The survey covered educated entrepreneurs in Osun state with a minimum of O’levels. A total sample size of 385 respondents was randomly selected from an infinite population. The study employed a binary logit regression model for the analysis with the help of STATA (14) because the dependent variable is coordinated in a binary form and the model of the study is ordered in the context of multivariate latent structural model. The result with Prob> chi2= 0.0000 showed that financial education influences the growth and development of businesses in Osun state. Hence, we conclude that the encouragement of financial education for Nigerian entrepreneurs in order to encourage financial literacy, financial inclusion and financial behaviour of entrepreneurs for effective and efficient management of businesses will have direct effect on entrepreneurship growth and development in the economy. The study identified areas of inadequacies and proposed recommendations to improve the financial literacy level; encourage prudency in financial behavior; and ensure the availability of financial services for entrepreneurship purposes.
Online Payment and Consumers’ Attitude towards Risk reduction strategies in a Cash Based Economy
(Archives of Business Research, 2018-12-25) Iriobe, Ofunre
Online payment for goods has grown globally; unfortunately, the advancement in technology has not lowered the level of perceived risk felt by customers who pay for products online. The adoption of online payment in Nigeria is still low hence, consumers are given options considered less risky to use. Many online vendors have adopted different risk reducing strategies to help curb the perceive risk felt by customers when paying online. The effect of these risk reducing factors have not been adequately investigated in Nigeria especially, given that online vendors in Nigeria accommodate buying online and paying cash. Using a sample of 170 young people in Nigeria, an ordered logistic regression was used to test the relationship between various risk-reducing strategies such as Money Back Guarantee (MBG), Electronic Word of Mouth (EWOM), Informational Influence (IIF) and Pay on Delivery (POD) in Nigeria and customers’ attitude towards electronic payment (CAT). We found that MBG, EWM and POD have significant positive influence on (CAT) while IIf exhibited a significant negative influence. The various risk reduction strategies employed by the study contributes a significant 12% to the variation of customers’ attitude towards electronic payment. We concluded that risk reduction strategies have a significant positive impact on customers’ attitude towards electronic payment in Nigeria. Hence, we recommend that online vendors should encourage more interpersonal online interaction among users, they should also provide more money back guarantees and pay-on-delivery offers to consumers to simulate and hasten their movement from traditional payment methods to online payment methods.
Tariff Pricing Disparity and Household Electricity Prepaid Users’ Behaviour in Southwest, Nigeria
(Christopher University Journal of Management and Social Sciences, 2022-06-30) Iriobe, Ofunre
In Nigeria, previous studies attributed energy wastage to poor pricing resulting from low electricity tariffs and awful human behaviour. By incorporating the practice theory approach, this study examined the disparity in electricity tariff pricing and household electricity prepaid users’ behaviour in Southwest Nigeria. The study employed a survey method and gathered data from 286 respondents in purposively selected residential areas in Osogbo, Nigeria. The study was analysed using two approaches: descriptive and econometric. The study, however, showed that respondents were indifferent about the tariff pricing scheme in Nigeria, which was attributed to respondents understanding the concept of “Pay As You Go” pricing technique. The finding also revealed that the impact of efficient price on electricity consumption is 3% greater than the price disparity currently used in Nigeria and that consumers’ behaviour towards electricity wastage was well-managed by prepaid metering. The findings of this study suggest the distribution of well-programmed energy-efficient technologies that will capture price disparity, coupled with well structured uniform tariff rate that will make prepaid metering relevant to energy saving

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