Corporate Strategy as an Effective Tool for Organization Survival (a Study of MTN Nigeria Owerri, Imo State)
CHAPTER ONE
Purpose of the study
The purpose of this research work include among other things.
- To find out the relevance of corporate strategy to organization
- To determine the process of corporate strategy.
- To find out the effect of corporate strategy on the performance of an organization.
- To find out the reasons for failure of corporate strategy in organization.
CHAPTER TWO
LITERATURE
Conceptual Framework
Concept of Corporate Strategy
Tiles (1979, p.16) defines corporate strategy as “the set goals and major policies of an organization”. This definition encompasses the basis objectives f the organization and the major means that will employed to reach those objectives in essence corporate strategy determines what the basic nature of entity is or will be and further it determines how the entity has reached or will reach that states of being.
In the views of Schendel et al as quoted by McCarthy (1979, p.2) corporate strategy is defined as :the basic goals and objectives of the organization, the major programmes of actions chosen to reach these goals and objectives and the major patterns of resources allocation used to relate the organization to it’s environment”.
In the words f chamber (1962, p.8) “corporate strategy is the determination of basic long range goals and objectives in an enterprises and the adoption of courses of action and the allocation of resources necessary of carrying out this goals”.
However Ansoff (1965, pp. 14-15) proposed a concept of corporate strategy which provides a broad concept of firm’s business, set forth specific and supplements the firms objectives with decision rules which narrows firm’s selection process to the most attractive opportunities .
This concept of strategy seems to separate strategy from objects. However, the employment of strategy to attain objective is demoralized. While strategy and objectives are presented as separable in nature, they are recognized as necessarily complementary in operation.
According to Thompson (1996, p.34) a company’s strategy is the “game plan” management has for a positioning the company in its chosen market arena, competing successfully, pleasing customers and achieving good business performance.
From this perspective, corporate strategy consists of the whole array of competitive moves and business approaches that managers employ in running a company. Here, in crafting a strategic course, management is saying that “among all the paths and actions we could have chosen we have decided to go in this direction and rely upon these particular ways of doing business”. A strategy thus entails managerial choices among alternatives and signals organizational commitment to specific markets, competitive approaches and ways of operating.
CHAPTER THREE
RESEARCH METHODOLOGY
This chapter described the design of the study, area of the study, the population, the sample of the study, the instrument used for data collection validation of the instrument distribution and retrieval of the instrument and method of data analysis.
Design of the Study
Descriptive design was considered appropriate of this study. it sought opinions of workers. The descriptive instrument was deemed the most appropriate for gathering the data required for the study, since descriptive design centers in people, their belief opinions attitude and behaviour.
CHAPTER FOUR
PRESENTATION OF DATA ANALYSIS
The presentation analysis and interpretation of data collected from the questionnaire administered to respondent are presented in tabular form based on the frequency of response. the questionnaire is attached as an appendix.
However, in the presentation and analysis that follows, we tried to look at the respondent’s rate of response profile, company’s adherence to corporate strategy, etc
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS
Summary of Findings
1) Effective business strategy is an essential requirement for an outstanding company. Of all the contrast between the successful and unsuccessful business or between the corporate leaders and their followers, the single most important differentiating factors is strategy.
2) Whether an organization will succeed or fail ultimately hinges upon the administration of it’s corporate strategy. Corporate strategy stresses managing the organization’s relationship with its environment as a means to mission accomplishment. corporate strategy recognizes that most organization operate in increasingly volatile and often hostels environments.
Recommendation
1) A successful chief executive must be constantly aware of what is happening in his environment and its significance which suggest that he must be able to acquire information continuously and relenthelessly and shift it for relevance. He must have some strategic focus. He is continuously searching for ways to reach out in new continuously searching for ways to reach out in new directions by creating and transforming visions to guide the organization’s goals and objective and policy framework. In the drive towards a strategic focus he build up a top management, team and follows up with constraint indept discussions to again the commitment and loyalty of term members on the commitment and loyalty of team members on the need to redefine of reposition the organization, stake holders interfaces mean discovering developing and maintaining common boundaries with those people and organization what have a vested interest in the organization’s services, product and process, customers, suppliers and founders are some of the stakeholder with whom close working relationships need to be maintained sector/market needs entail the assessment of the probabilities and entail the assessment of the probabilities and possibilities of the market places, including the potential for products, services and ideas for markets that do not exist. services, product and process development involve the project tams to focus cross-functional and cross-organization resources to conceptualize, design, development and initiate continuous improvement in existing services, products and organizational process as well as the development of new initiative in such services, product and processes. Feedback points to ongoing insight into how well the strategic plan elements are being developed and implemented in positioning the organization for its future purposes.
Conclusion
As discussed in the literature review and the analysis of data, the chief executive officer is not only the architect of organization purpose, the designer of the character of the organization, he is also the leader of men and pivot upon which everything within the organization is going to succeed person who has that sense of purpose and direction necessary for the growth and development of the corporate entity. Having been thus identify and selected to lead the organization he must be given the necessary where withal and time to formulate, develop and implement his strategies within the frame work of overall laid down corporate strategy. for policy to be meaningful, there must be some operational strategy that will translate it into course of action, strategies are means of operatinalzing a policy and for achieving some predetermined objective. The concept and theories of corporate strategy have their antecedents in military strategy which extends back to principles enunciated by Julius caser and Alexander the greater and further to sun TSU’s Classic treaties written about 360 BC.
Suggestion for Further Research
After the analysis and summary of finding the following are submitted as suggestion for further studies;
- There is the need to take advantage of experience and insight of company workers in need of identification, planning and implementation of corporate strategy.
- There should be a joint monitoring and implementers. this is to ensure that company cotroprate strategies are on course. The essence of involving the implementers is to reinforce their sense of belonging as co-owners.
- Government should aid research works on corporate strategy formulation and the resultant implementation of such strategy. That is to say, there should be strong support (Financial, economic, social be and moral) for research and development works in corporate strategy formulation and implementation.
REFERENCE
- Andrew, Kenneth R. (1987). The Concept of Corporate of Corporate Strategy Richard D. Irwin, USA.
- Mc Carlhy Daniel J. et al (1979) Business Policy and Strategy, Concepts and Reading. Richard D. Irwin Inc, USA.
- Thompson, Arthur A. et al (1998) Strategic Management Concpt and Cases, Irwin McGraw-Hill, Boston
- Ansoff, H. I (1965) Corporate Strategy McGraw-Hill Book Co. New York.
- Chandler Alfred (1962) Strategy and Structure MIT pree Cambridg.
- Asika, Nnamdi (1991). Research Methodology in the Behavioral Science, Loyman Nigeria Plc
- Nwadinigwe, B. C (2000). Research Fundamentals of Research Method and as Statistics, Sibon Book Ltd Ibadan.
- Farkas, Charles (1996). “The way Chief Executive Officers Lead” Harvard Business Review 74 No. 3 (May-June)
- Purnpin Cuno (1989). The Essence of Corporate Strategy, Gower Publishing Company, Greek Britain.
