Bet your Company Culture and Business Performance in Nigeria

Abstract

The study examined the relationship between Bet your company culture and business performance in Nigeria. The strategic focus of any corporate venture is to maximize gains in business, which is achieved through actualizing vision and mission objectives. Bet your company as a way of life to achieve corporate success was examined in this study. A case study of NNPC was brought to focus based on some selected empirical studies in the literature. The study deployed a technique of Management by Objective (MBO) to instigate the bet company style of culture in NNPC. The review found that the concept of MBO which Udoji’s Commissions introduced as an important part of managerial process, most public enterprises in Nigeria, especially NNPC, did not afford its subordinates the opportunity to engage in goal-setting; instead, the predominant management approach involved the imposition of objectives by the leadership for associates to attain. Also, there was a report of misplaced priority by decision makers of NNPC not to train staff as and when needed, thereby stifling expected overall performances. It was recommended that NNPC and other firms adopt a bottom-up approach to decision-making. Institutions should involve the subordinates in significant decision-making and seek feedback as and when needed. Keywords: Bet your company; NNPC; Nigeria, Corporate Objectives