Author list:
1. Onu Abara, PhD
Department of Business Administration and Management,
School of Management Sciences,
Federal Polytechnic, Ekowe, Bayelsa State.
[email protected]; 08033716998
Abstract
Research Objectives: The study examined the impact of business strategy on organizational productivity of selected consumer goods companies in Enugu State. Business strategy is a combination of all decisions and actions taken by an organization to achieve set objectives and gain competitive advantage.
Methodology: This research employs the descriptive survey research design with the use of questionnaires. This entails the use of frequency distribution and percentages to determine the various objectives of the study and to answer the research questions posed by the study. Also, the hypotheses of the study were analyzed using the Ordinary Least Squares (OLS) regression analysis. All these analyses were performed using Statistical Package for Social Sciences (SPSS 22.0) and statistical significance will be accepted at 5% level of significance.
Findings: Corporate strategy has significant influence on productivity of selected organizations in Enugu State (β= 0.161; p<0.05). Organizational strategy has significant influence on effectiveness of selected organizations in Enugu State (β= 0.297; p<0.05). Motivational strategy has significant influence on engagement of selected organizations in Enugu State (β= 0.181; p<0.05). Managerial strategy has significant influence on efficiency of selected organizations in Enugu State (β= 0.145; p<0.05).
Conclusion: Business strategy has significant impact on organizational performance of consumer goods companies in Enugu State with respect to efficiency, effectiveness, engagement and productivity.
Recommendations: For every organization to succeed whether big or small, it must have a valid and strong plan which will serve as a form of compass for the business. When formulating strategies, management of organizations are advised to take necessary steps accordingly and very religiously. Management of organizations, especially small and medium-sized ones should take all the necessary steps to embark on strategy formulation and implementation because the quality and strength of firms’ competitive advantage relates to how effective the internal resources of the firms are utilized. Organizations should continuously analyze their strengths, weaknesses, opportunities and threats for an enduring adaptation to the dynamic environment characterized by political instability, government interference, corruption, and sharp practices.
Key words: Business, Strategy, Firms, Performance, Goods.
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