Corporate Survival and Growth Strategies in A Competitive Business Environment: A Study of Karrington Limited and Rocana Nigeria Limited.
ABSTRACT
Competition has become the norm of the day in the modern economy. The modern business organization does not only compete with local industries but also foreign industries.
While on one hand, it has given room to increased varieties of goods available to consumers and improved quality of the products, on the other hand, strive competition has led to the failure of many business enterprises.
Consequently, the project examines corporate survival and growth strategies being employed in Karrington Limited and Rocana Nigeria limited as a printing and advertising company as a case study.
In achieving the sole objective of the study, a number of research tools were employed; such as questionnaires, oral and structured interviews were administered on the Direct clients and Advertising agents of the companies.
The corporate survival and growth strategies of the companies and their limiting factors were identified. In the implications of the study, the researcher discovered that the growth of the companies can be hinged on quality control and modern technology. This will give the company a competitive edge over its competitors. The reality of the competition and the need for corporate strategy has been emphasized.
The study shows that competition in the modern economy is a reality. Hence, corporate organizations should be proactive.
They must not allow the competitors to overtake them unaware. The management of the organization must adopt a corporate strategy that will position the organization in a place that will be difficult for the competitors to retaliate.
INTRODUCTION
Background Of Study
Business firms operate in society to satisfy individual and social needs through the production of goods and services. Their decisions influence and are influenced by what is happening in society.
The social, economic, and political institutions that make up a society constitute in a broad sense the environment of business enterprises and the way they work affects the operations and fortunes of every business unit.
The motivating factor for the entrepreneur to go into business is to make a profit. The objective of a business firm however goes beyond profitability only. It includes growth in size, increases in market share, innovation, and social objectives. The realization of these objectives will be determined largely by the happening in the environment.
Specifically, the environment of a business comprises those activities that can hinder or facilitate the achievement of its objectives. They include population, technology, social infrastructure, economic system, and competitors.
Our focus in this study is on the impact of the activities of the competitors on a business firm. Customers have a choice to go elsewhere if a particular firm’s product or service does not meet their needs.
They can go to competitors who may claim they can do better. This means that the activities of competitors in the same industrial sector as a company also lied to a firm‘s prospects and operations.
REFERENCES
Oyediji, A (1983) Principles of Management Continental Publishers limited.
Adekunle O. (1997) the Challenge of Management and Leadership in a Distressed Company ICAN Journal Publication April/June.
Adesina A. (2003) We Need Competition Marketing Edge Magazine Publication Sept/October Edition.
ADH Kaplan (1996) Big Enterprise in a Competitive System Washington DC; the Brookings Institution.
Alfred D. C (1962) Strategy and Structure Cambridge: The M.I.T Press. Boston (l998) The Strategy Review the Boston Consulting Group
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