Competitive Strategies and Organizational Performance of Corporate Enterprises in Nigeria

Abstract:

This study examined the relationship between competitive strategies and organizational performance in corporate enterprises in Nigeria. The survey was based on five selected entrepreneurial companies with a sample size of 15 staff. Questionnaires were administered to the staff of the selected companies. Two hypotheses were formulated and tested, and the statistical tool Pearson Product Moment Correlation Coefficient was used to test the strength and direction of the relationship between the variables. Findings revealed that there is a relationship between competitive strategies and organizational performance. Therefore, it was concluded that to thrive in today’s business environment, corporate enterprises must adopt suitable competitive strategies, as these make up the life wire of an organization to create value, outwit competitors, and increase market share. Thus, we recommended that corporate enterprises should focus on strategies that improve their profit margins, quality of service and customer satisfaction; they should invest in customer relationship management to retain existing customers and upsell additional products or services; and they should leverage technology to enhance operational efficiency, reduce costs and improve product/service quality.