An Assessment Of Strategic Management And Its The Effect On Organizations Performance (A Case Study Of Krisoral Group Of Companies Limited Onitsha)

An Assessment Of Strategic Management And Its The Effect On Organizations Performance (A Case Study Of Krisoral Group Of Companies Limited Onitsha)

Abstract

This study was carried out to examine strategic management and its the effect on organizations performance using Krisoral Group Of Companies Limited Onitsha as a case study. The study was carried out to determine whether there is a significant relationship between strategic management and organizational performance, determine the extent to which strategic management is adopted in Krisoral Group Of Companies Limited Onitsha, and ascertain the impact of strategic management on organizational performance in Krisoral Group Of Companies Limited Onitsha. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of staff Krisoral Group Of Companies Limited Onitsha, Anambra state. In determining the sample size, the researcher conveniently selected 57 respondents and 50 were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables. While the hypotheses were tested using Chi-square statistical tool. The result of the findings reveals there is a significant relationship between strategic management and organizational performance. The study also revealed that strategic management has a positive impact on organizational performance in Krisoral Group Of Companies Limited Onitsha. Therefore, it is recommended that organizations should have a wellconceived strategic vision that must be communicated to all employees. It is imperative to emphasize that all employees should be carried along in implementation of strategic management process that will prepare the company for the future, establish long-term direction and indicate the company’s intent to position itself as a market leader in the industry. To mention but a few.

Table of Content

• Title Page
• Certification
• Dedication
• Acknowledgement
• Table of Content
• List of Tables
• Abstract

Chapter One:

Introduction

• 1.1 Background of the Study
• 1.2 Statement of the Problem
• 1.3 Objective of the Study
• 1.4 Research Questions
• 1.5 Research Hypothesis
• 1.6 Significance of the Study
• 1.7 Scope of the Study
• 1.8 Limitation of the Study
• 1.9 Definition of Terms
• 1.10 Organisations of the Study

Chapter Two:

Review of Literature

• 2.1 Conceptual Framework
• 2.2 Theoretical Framework
• 2.3 Empirical Review

Chapter Three:

Research Methodology

• 3.1 Research Design
• 3.2 Population of the Study
• 3.3 Sample Size Determination
• 3.4 Sample Size Selection Technique and Procedure
• 3.5 Research Instrument and Administration
• 3.6 Method of Data Collection
• 3.7 Method of Data Analysis
• 3.8 Validity of the Study
• 3.9 Reliability of the Study
• 3.10 Ethical Consideration

Chapter Four:

Data Presentation and Analysis

• 4.1 Data Presentation
• 4.2 Analysis of Data
• 4.3 Answering Research Questions
• 4.4 Test of Hypotheses

Chapter Five:

Summary, Conclusion and Recommendation

• 5.1 Summary
• 5.2 Conclusion
• 5.3 Recommendation
• References
• APPENDIX
• QUESTIONNAIRE

Chapter One

Introduction

1.1 Background of the Study

Economic environment is changing rapidly and this change is characterized by such phenomena as the globalization, changing customer and investor demands, ever-increasing product-market competition. To complete successfully in this environment, organizations continually need to improve their performance by reducing cost, innovating products and processes and improving quality, productivity and speed to market. “Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved, assesses its competitors and set goals and strategies to meet all existing and potential competitors, and then reassess each strategy annually or quarterly (ie regularly) to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet charged circumstances, new technology, new competitors, a new economic environment, or a new social, financial or political environment” (Lamb, 2014). Achieving a competitive advantage position and enhancing firm performance relative to their competitors are the main objectives that business organizations in particular should strive to attain. (Raduan, Jegak, Haslinda and Alimin, 2009).

Strategic management can depend upon the size of an organization, and the proclivity to change of its business environment. Therefore, a global transnational organization may employ a more structured strategic management model, due to its size, scope of operations, and need to encompass stakeholder views and requirement. Major management theories such as those of Chandler (1962) and Child (1972), both cited in Meier, O’Toole, Boyne and Walker (2012) emphasized that private firm can exercise strategic choice, even in the face of external constraints. The way and manner they face strategic issues can affect the overall growth and development of the organization. It goes without saying that the strategic framework must also address fundamental issues such as resource base, infrastructure constrains, appropriate level of technology and raw materials input.

1.2 Statement of the Problem

In recent years, organizations’ performance has been the subject of much investigation. The extent to which an organization’s policies and programs are implemented and its strategic aim in terms of goals and vision is a major problem. Managers in both private and public organizations are increasingly aware that having an appropriate system for attracting and managing the organization’s human resources is a critical source of competitive advantage. Indigenous products and services, best public relations strategy, state-of-the-art technology, and having an appropriate system for attracting and managing the organization’s human resources are all important sources of competitive advantage.

Based on the above and current trends, it is clear that the space of change in our corporate environment brings new problems on a daily basis. As a result, if the industrial industry is to effectively handle its difficulties, a cure must be discovered. As a result, many businesses must come up with creative concepts in order to establish distinctive brands, consumer-friendly products/services, and competitive advantages in terms of brand preference and client confidence.

Despite this, no research has been done in Nigeria to look at the influence of strategic management as a whole on organizational growth and development. In Nigeria, there is a number of research targeted at improving human resource development (eg Oladipo and Abdulkadir, 2010; Oladipo and Abdulkadir, 2011; Abdulkadir, 2012). Strategic planning (a subset of strategic management) was research that was related to this one (see Ilesanmi, 2011 and Akinyele & Fasogbo, 2007). None of the research in Nigeria looked at the influence of strategic planning management on the industrial sector. To that end, the purpose of this study is to investigate how manufacturing businesses in Anambra State may employ strategic management to build successful growth and development strategies.

1.3 Objective of the Study

The primary objective of the study is to examine strategic management and its the effect on organizations performance using Krisoral Group Of Companies Limited Onitsha as a case study. The specific objectives is as follows:

1. Determine whether there is a significant relationship between strategic management and organizational performance.
2. Determine the extent to which strategic management is adopted in Krisoral Group Of Companies Limited Onitsha.
3. Ascertain the impact of strategic management on organizational performance in Krisoral Group Of Companies Limited Onitsha.

1.4 Research Question

The study will be guided by the following questions;

1. Is there a significant relationship between strategic management and organizational performance?
2. What is the extent to which strategic management is adopted in Krisoral Group Of Companies Limited Onitsha?
3. What is the impact of strategic management on organizational performance in Krisoral Group Of Companies Limited Onitsha?

1.5 Research Hypothesis

• Ho: There is no significant relationship between strategic management and organizational performance.
• Ho: There is a significant relationship between strategic management and organizational performance.

1.6 Significance of the Study

This will be of immense benefit to both public and private organizations to determine the extent of their strategic management and its impact on their performances. In addition, the study will determine the factors or problems limiting strategic management of this organization. Through this investigation, the organization will understand their short comings and weak points and will adapt measures aimed at enhancing their strategic management.

1.7 Scope of the Study

This study focuses on strategic management and its the effect on organizations performance using Krisoral Group Of Companies Limited Onitsha as a case study. Geographically, the study will be carried out in Krisoral Group Of Companies Limited Onitsha, Anambra state.

1.8 Limitations of the Study

The researcher encountered minor obstacles when conducting the study, as with any human endeavor. The significant constraint was the scarcity of literature on the subject due to the nature of the discourse, so the researcher incurred more financial expenses and spent more time sourcing for relevant materials, literature, or information and in the data collection process, which is why the researcher resorted to a limited choice of sample size. Furthermore, the researcher did this investigation alongside other academic activities. Furthermore, the sample size was limited because only a few respondents were chosen to answer the research instrument, therefore the results cannot be generalized to other secondary schools outside the state. Despite the constraints encountered during the research, all elements were minimized in order to provide the best results and make the research effective.

1.9 Definition of Terms

Strategic Management:

Strategic management is the ongoing planning, monitoring, analysis, and assessment of all the necessities an organization needs to meet its goals and objectives.

Organizations Performance:

Organizational performance comprises the actual output or results of an organization as measured against its intended output.

1.10 Organization of the Study

The study is categorized into five chapters. The first chapter presents the background of the study, statement of the problem, objective of the study, research questions and hypothesis, the significance of the study, scope/limitations of the study, and definition of terms. The chapter two covers the review of literature with emphasis on conceptual framework, theoretical framework, and empirical review. Likewise, the chapter three which is the research methodology, specifically covers the research design, population of the study, sample size determination, sample size, and selection technique and procedure, research instrument and administration, method of data collection, method of data analysis, validity and reliability of the study, and ethical consideration. The second to last chapter being the chapter four presents the data presentation and analysis, while the last chapter (chapter five) contains the summary, conclusion and recommendation.

Chapter Five

Summary, Conclusions and Recommendations:

5.1 Introduction

This chapter summarizes the findings on strategic management and its the effect on organizations performance using Krisoral Group Of Companies Limited Onitsha as a case study. The chapter consists of summary of the study, conclusions, and recommendations.

5.2 Summary of the Study

In this study, our focus was to examine strategic management and its the effect on organizations performance using Krisoral Group Of Companies Limited Onitsha as a case study. The study is was specifically carried out to determine whether there is a significant relationship between strategic management and organizational performance, determine the extent to which strategic management is adopted in Krisoral Group Of Companies Limited Onitsha, and ascertain the impact of strategic management on organizational performance in Krisoral Group Of Companies Limited Onitsha.

The study adopted the survey research design and randomly enrolled participants in the study. A total of 50 responses were validated from the enrolled participants where all respondent were staff Krisoral Group Of Companies Limited Onitsha, Anambra state.

5.3 Conclusions

Based on the findings of this study, the researcher concluded that;

1. There is a significant relationship between strategic management and organizational performance.
2. The extent to which strategic management is adopted in Krisoral Group Of Companies Limited Onitsha is low.
3. Strategic management has a positive impact on organizational performance in Krisoral Group Of Companies Limited Onitsha.

5.4 Recommendations

Based on the findings of the study, the following recommendations are proffered.

1. Organizations should formulate strategic objective to be in line with the objective of the organization in other to achieve set objective and effective employee performance.
2. Organization should seek more input from the lower level managers and supervisors when formulating strategy so that the formulated plans will be effective and in line with both long and short term objectives of the organization.
3. Organizations should have a wellconceived strategic vision that must be communicated to all employees. It is imperative to emphasize that all employees should be carried along in implementation of strategic management process that will prepare the company for the future, establish long-term direction and indicate the company’s intent to position itself as a market leader in the industry.
4. Every organization should evaluate their strategic management processes yearly in other to know if it is consistent with organizational goals and objectives and strategic evaluation should be on a continuous rather than a periodic basis as it allows benchmarks of progress to be established and more effectively monitored.

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