STRATEGIC MANAGEMENT PROCESS AND FIRM’S PRODUCTIVITY OF PLASTIC MANUFACTURING COMPANIES IN SOUTH-SOUTH, NIGERIA

Abstract

The study examines how strategic management process affects firm productivity with specific reference to plastic manufacturing companies listed in the manufacturer association of Nigeria that has operational based in the South-South, Nigeria. The study employed cross-sectional survey design which is exploratory in nature because the data were collected at a particular point in time to examine how strategic management process affect productivity in the context of Nigeria plastic manufacturing sector.The population for the study was all the 34 plastic manufacturing companies listed in the 2018 edition of the directory of Nigerian manufacturer Association based in South-South Nigeria. The cluster sampling technique was adopted in this study. This was complemented with the simple random sampling technique. The analytical techniques employed were Correlation and Multiple Regression Statistics to determine the strength and direction of the relationship and test the hypotheses with the help of IBM data editor of Statistical Package for the Social Sciences. The findings of the study revealed thatthere is a significant relationship between strategy formulation, strategy implementation and productivity in the context of Nigeria plastic manufacturing sector. Furthermore, the findings showed that there is no significant relationship between strategy evaluation and productivity in the context of Nigeria plastic manufacturing sector. The study concludes that strategy formulation, strategy implementation, strategy evaluation makes a unique contribution to the variation of plastic manufacturing firms’ level of productivity to gain edge over rivals in the industry. Therefore, the study recommends that plastic manufacturing firms should implement formulated policies and strategies to match with the structure of the organization, increase value relevance and earnings quality for productivity.