Adopting Growth Strategy and Organisational Performance

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Date

2021

Journal Title

Journal ISSN

Volume Title

Publisher

A publication of the Department of Business Administration; University of Ilorin, Ilorin, Nigeria

Abstract

Given the disturbing rate of unemployment in Nigeria, that had impacted negatively on economic growth of the country. Organisations can only provide decent employment when their operations are effective and they also achieve desired performance. This study thus examines the impact of adopting growth strategies on organisation performance with special reference to item 7 in Ilorin, kwara state. The population of the study consists of customers of Item 7 in six (6) branches in Ilorin out of which three (3) branches were systematically selected for the purpose of this study. The study employs Godden's (2004) infinite sample techniques to arrive at representative sample of 246 and questionnaires were used to collect data from respondents. Out of 246 questionnaires that were administered, 222 questionnaires were returned and used to achieve the study objective. The study formulated two null hypotheses and both were disapproved as the independent variables (market development and product development strategy) statistically predict the dependent variable (organisation performance). Descriptive analysis and graphs were used to present data and hypotheses were tested with regression analysis and MANOVA and the findings show that Market development (55.6%) and product development (48.1%) strategies have significant impact and positive relationship with corporate image and customer’s satisfaction. The study concluded that adopting Market development and product development strategies are vital to Item 7 to increase their performance and the study recommended that FCMG firms should adopt market and product development strategies to improve their organisation performance.

Description

Keywords

Corporate Image, Customer Satisfaction, Fast Moving Consumer Goods, Market Development, Product Development

Citation

Jatto, A. A., Bello K. A., Najeem, M. O. & Zubair, O. S (2021): Adopting growth strategy and organizational performance, a study of Item 7, Ilorin. Advances in Management. 20(1); 56-70. A publication of the Department of Business Administration, University of Ilorin.

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