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 Marketing, Faculty of Management Sciences, 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 in order to achieve desired performance. This study thus examined the impact of growth strategies on organisation performance with special reference to item 7 in Ilorin, Kwara State. The population of the study comprised customers of item 7 in Ilorin, Kwara State. Closed-ended questionnaire was used to prompt information from 246 respondents who were selected through purposive sampling techniques using Godden's (2004). The researcher distributed 246 questionnaires, while only 222 questionnaires were returned. Hypotheses were tested using linear regression analysis with the aid of Statistical Packages for Social Sciences (SPSS). Findings of the study revealed 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 improve the performance of Item 7. The study recommended that fast moving consumer goods (FMCG) firms should adopt market and product development strategies to improve their 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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