Complete Material Cost #3,000
Order for Complete Material now
ABSTRACT
This study examined business strategy and workers performance in Globacom. The researcher made use of both primary and secondary data. The researcher adopted the questionnaire as a source of data collection.To facilitate accurate analysis of data the researcher used percentage to analyze the data. While Pearson Product Correlation and Coefficient was used to test the formulated hypothesis. The decision rule is If tc > tt the alternative hypothesis is accepted and null hypothesis is rejected, otherwise, the alternative hypothesis is rejected and the null hypothesis accepted. The study found that the highly competitive, technology driven, knowledge intensive nature of today’s business environment makes it imperative for business managers to develop a clear mandate in form of appropriate business strategy that will propel higher organizational performance for firms to achieve their desired goals and objectives. From the hypothesis testing, the tc is higher than the tt value, therefore, the null hypothesis is rejected and the alternative hypothesis is accepted that business strategy has significant impact on workers performance in Globacom. It was therefore recommended among others that effective implementation of strategy is very important to organization’s ability to achieve and maintain competitive advantage over other organizations.
TABLE OF CONTENT
TITLE PAGE
ABSTRACT – – – – – – – – – i
DECLARATION – – – – – – – – – ii
CERTIFICATION – – – – – – – – iii
DEDICATION – – – – – – – – – iv
ACKNOWLEDGEMENTS – – – – – – – v
TABLE OF CONTENT – – – – – – – vi
LIST OF TABLES – – – – – – – – viii
LIST OF FIGURES – – – – – – – – ix
CHAPTER 1 – – – – – – – – – 1
INTRODUCTION- – – – – – – – – 1
1.1 BACKGROUND OF THE STUDY – – – – – 1
1.2 STATEMENT OF THE PROBLEM – – – – – 4
1.3 OBJECTIVES OF THE STUDY – – – – – 6
1.4 RESEARCH QUESTIONS – – – – – – 6
1.5 SIGNIFICANCE OF THE STUDY – – – – – 7
1.6 STATEMENT OF HYPOTHESIS – – – – – 7
1.7 SCOPE OF THE STUDY – – – – – – 8
1.8 LIMITATIONS OF THE STUDY – – – – – 9
1.9 DEFINITION OF TERMS – – – – – – 9
CHAPTER 2 – – – – – – – – – 11
REVIEW OF RELATED LITERATURE – – – – – 11
2.1 CONCEPTUAL REVIEW – – – – – – 11
2.1.1 BUSINESS STRATEGY – – – – – – 11
2.1.2 IMPORTANCE OF BUSINESS STRATEGY – – 13
2.1.3 TYPES OF BUSINESS STRATEGY – – – – 14
2.1.4 STRATEGY FORMULATION – – – – – 16
2.1.5 STRATEGY IMPLEMENTATION – – – – – 18
2.1.6 BUSINESS STRATEGY AND WORK PERFORMANCE- 19
2.2. THEORITICAL FRAMEWORK – – – – – 21
2.2.1 MASLOW’S HIERARCHY OF NEEDS – – – – 21
2.2.2 HERGBERG HYGIENE THEORY – – – – 26
2.3 EMPIRICAL FRAMEWORK – – – – – – 27
CHAPTER 3 – – – – – – – – – 30
RESEARCH METHODOLOGY- – – – – – – 30
3.1 RESEARCH DESIGN – – – – – – – 30
3.2 POPULATION OF THE STUDY – – – – – 31
3.3 SAMPLE AND SAMPLE TECHNIQUES – – – – 31
3.4 QUESTIONNAIRE DESIGN – – – – – – 31
3.5 METHOD OF COLLECTION – – – – – 32
3.6 METHOD OF DATA ANALYSIS – – – – – 32
3.7 RELIABILITY AND VALIDITY – – – – – 33
CHAPTER 4 – – – – – – – – – 34
DATA PRESENTATION AND ANALYSIS – – – – 34
4.1 INTRODUCTION – – – – – – – – 34
4.2 DATA ANALYSIS – – – – – – – – 35
4.3 HYPOTHESIS TESTING – – – – – – 45
CHAPTER 5 – – – — – – – – – 56
SUMMARY, CONCLUSION AND RECOMMENDATIONS – 56
5.1 SUMMARY OF FINDINGS – – – – – – 56
5.2 CONCLUSION – – – – – – – – 57
5.3 RECOMMENDATION – – – – – – – 58
REFERENCES – – – – – – – – – 60
APPENDIX I – – – – – – – – – 68
APPENDIX II – – – – – – – – – 69
Chapter 1
Introduction
1.1 Background to the study
The word strategy has several perspectives to it and therefore does not have a single definition. In its broad perspective, strategy can be considered as a coordinated plan or outline for making decisions and carrying out the activities of a firm, using available resources to create value and to achieve organizational goals, particularly in the long term.
There are proofs that as business organizations continue to find proper avenues of achieving competitive edge, they also endeavour to achieve competence in every valuable area of their businesses to boost business operations which often times result to enhanced business performance. However, it is generally believed that organisational activities involve methods, processes, structures and widely embraced strategies carried out by managers to achieve set objectives (Ajagbe, 2007; Long et al., 2012a, Gemini de Alwis&Senathiraja, 2003; Mandal et al., 2008). The authors further argued that practices of business activities in organizations are made up of the ways they are able to convert values into processes for achieving organizational goals and objectives.
It is obvious that the workers have need which the work may or may not satisfy. The degree of satisfaction and dissatisfaction will be reflected not only in measured work but also in the morale of workers.
Lewis (2008) argued that Strategy is an indispensable tool for an organization’s success. He added that it helps a company to be more proactive than reactive in moulding its own future.
Ajagbe (2007) argued that without a clearly defined strategy, a business will have no sustainable basis for creating and maintaining a competitive advantage in the industry where it operates. There are also opinion that effective strategy planning and implementation has positive contribution to the over-all performance of workers.
Chandler (1962) has noted that organizations are supposed to adopt different types of strategies in order to make it easier to measure workers performance rather than relying on a single strategy applied over a long-term. Workers thus, are to strategically pursue their vision in order to sustain their businesses, and to become more innovative and competitive both locally and internationally (Porter 1996).
It needs also to be emphasized that, when it comes to strategy formulation, the business owner or manager plays an important role (Philipsen and Kemp, 2003). The owner/manager’s competitive development and personal goals therefore can help determine the understanding and use of strategic management and planning (Postma and Zwart, 2001). A meta-analysis of existing studies by Schwenk and Shrader (1993) have indicated a positive linkage between strategy and growth. Porter (1991) has also observed that strategy leads to superior and sustainable performance. As a result, when a company develops and implements effective long-term strategies, it could impact on the competitive positioning of that company on the market.
There is a high tendency on their part to make decisions without any broad consultations, relying greatly on their personal inclinations rather than sound strategic management practices (Amoako-Gyampah and Acquaah, 2008). This situation does not help the businesses to perform as expected, in some cases. Besides, most organizations are busily engulfed with operational problems, which prevent them from devoting adequate time to quality strategic management issues. Thus, the business owners and managers place very little value on formal planning, strategic thinking and a developing long-term vision (Pelham, 2000).
In a study conducted by Slater & Olsen (2005), they found that a firm’s performance is strongly influenced by how well it’s Strategy is matched with its Organizational strategy and Employee Behaviour.
1.2 Statement of the Problem
The effect of business strategy on workers performance is a subject of great significance, in the face of increasing globalization and intense market competition. As Gibus and Kemp (2003) put it, strategy plays a crucial role in the performance of a firm because it helps to define the direction along which a firm intends to move and how the firm is going to get there. Thus, a worker’s performance is also dependent on its business strategy and how effectively the strategy is implemented by the firm (Olson and Bokor, 1995). Some of the problems indicated in workers includes;
i. Low morale and motivation of workers
ii. Decrease in the efficiency and productivity of the workers
iii. High cost of maintenance and low quality service.
Based on these postulations, this study examines the extent to which business strategy impact on the performance of workers. Although much has been written on workers performance, very little of the literature focuses on the specific business strategies which organizations can adopt to improve upon their workers performance (Hanlon and Scott, 1993, and Pelham, 2000). However, recent studies by Acquaah and Ardekani (2008) tend to suggest that some organizations find the use of differentiation strategy quite profitable, in view of their over-reliance on imported goods which are normally cheaper than home-made ones, irrespective of product quality.
The authors however note further that, over 50% of the firms examined use strategies which are akin to cost leadership. This, according to Barney (1990), allows them to offer products and services with features which are acceptable to many customer preferences. It thus therefore appears that most of the strategies used by the organizations are of the generic competitive type, as expounded by Porter (1985). This study is therefore significant in the sense that it addresses the effects business strategy on workers performance in Globacom.
1.3 Objectives of the study
The main aim of this study is to ascertain business strategy and workers performance in Globacom. Specific objectives of the study includes:
1. To ascertain how functional business strategies affects workers performance in Globacom.
2. To find out the impacts of business strategies on workers performance in Globacom.
3. To know if the social process of motivating workers to perform effectively can help in globacom.
4. To ascertain the ways through which workers morale and productivity can be improved in globaom.
5. To know if high commitment can help in improving the performance of workers in globacom
1.4 Research questions
In order to achieve the above objectives, the following questions are answered:
1. How does the functional business strategies affects workers performance in Globacom?
2. What are the impacts of business on workers performance in Globacom?
3. How can the social process of motivating workers bring about effective performance?
4. What are the ways through which workers morale and productivity can be improve in organization?
5. How can high commitment help in improving workers performance?
1.5 Significance of the study
This study will help scholars of the field to find practical solutions to problems relating to the study.
Result being gotten from the findings would help organizations to be able to implement success business strategy.
This study will be of significant benefit to the students and researchers as it gives insights to the academia on business strategy and workers performance.
1.6 Statement of Hypothesis
It is in consideration of the problems stated above and the objectives of the studied environment that the researcher propounded the following hypothesis:
Ho1: Business strategy has no significant impact on workers performance in Globacom
Hi1: Business strategy has significant impact on workers performance in Globacom
1.7 Scope of the study
This study tends to examine business strategy and workers performance in Globacom. The scope of the study include.
Content scope: The content scope of this study is based on the studied work carried out which is Business strategy and workers performance
Geographical scope: The geographical area or place in which the research work covers is in Port-Harcourt, Rivers state.
Unit of analysis:The unit of analysis of this research work are the employees/workers of the chosen globacom PH
1.8 Limitations of the study
As this study is carried out, certain factors that limit its study include:
Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.
Some form of difficulty in organizing the study.
Inadequate response from the bank in which the case study is being carried out.
The stress involve in administering and retrieving the questionnaire.
1.9 Definition of terms
Business strategy: is the firm’s working plan for achieving its vision, prioritizing objectives, competing successfully, and optimizing financial performance with its business model.
Differentiation: the action or process of differentiating or distinguishing between two or more things or people.
Morale: The amount of confidence and enthusiasm, that a person or a group has at particular time.
Motivation: To make somebody want to do something especially something that involve hard work or effort.
Strategy: is a plan of action designed to achieve a long-term or overall aim.
Workers performance: T he job related activities expected of a worker and how well those activities were executed.
Workers: people working in a particular job or in a particular way.
Complete Material Cost #3,000