CORPORATE STRATEGY AS AN EFFECTIVE TOOL FOR ORGANIZATION SURVIVAL: (A STUDY OF
MTN NIGERIA OWERRI,
CORPORATE STRATEGY AS AN EFFECTIVE
The study was intended to appraise corporate strategy as an effective tool for organizational survival for this purpose, the two major approaches towards conducting a study namely desk and field studies were adopted. Merging from these studies are the following; summary of finding recommendation and conclusion. Chapter two dealt with the review of relevant literature, ex-ray the effective use of corporate strategy in MTN Nigeria plc. The summary of finding revealed that policy objectives are not too broadly stated and that there is a firm commitment and adherence of stated objectives on corporate strategy. Also of note is the regular reviewing and evaluation of the achievements of corporate strategy toward as the achievement of group goals. Accepting company’s corporate strategy and implementing the same and developing a sense of commitment of both levels to the realization of the compliance objective stated in her policies while recommendations include; Gearing efforts towards implementation of a well articulated corporate strategy and policy decision should not be left on the hands of Layman but professionals in the field of management. Therefore suggestions for future research can be summarized as follows; 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 evaluating team consisting of the policy makers and implementers.
1.1 Background of the Study
The ultimate of very corporate entity is to remain in business perpetually. This will only be possible where the entity is able to generate enough returns on investment in the face of constant changes in the ways things are done and high level competition. Competition in the business environment is a battle for superiority and survival (Pumpin 1987, p.6). However, every business that must survive must have a competitive edge, which is a product of corporate strategy . corporate strategy consists of the whole array of competitive moves and business approaches that an organization employs in conducting its operations. In drafting a strategic herse, 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” (Thompson etal 1998, pp 14-15) and signals organizational commitment to specific markets, competitive approaches and ways of operating.
Corporate strategies are divided because of two very compelling needs, one is the need to proactively shape and how a company’s business will be conducted while the second is that of molding the independent decision and actions initiated by departments, manages and employees across the company into a coordinated, company wide game plan. The absence of this means that manager will have no framework for weaving many different actions into a cohesive whole, no plan for uniting cross department operations into a team effort.
Essentially, the idea of corporate strategy has developed into a useful vehicle by which organizations evaluated and modify the critical elements of their operations. Nevertheless managers don’t deserve a gold star for designing a potentially brilliant strategy, but failing to put the organizational means in place to carry it out in high caliber fashion weal implementations and execution undermines the strategies potentials and pave way for shortfalls in customers’ satisfaction and corporate performance. However, good strategy formulation combined with good strategy execution does not guarantee that companies will avoid periods of sub performance. Sometime it take several years for management’s strategy make/strategy-implementing efforts to show good results. In which case, in spite of the fact that corporate strategy does not absolutely guarantee success at all times, nothing affects a companys’ ultimate success or failure more fundamentally than how well its management team charts the company’s long terms direction, develops effective strategies moves and business approaches and implements what needs to be done internally to produce good day-in day- out strategy execution. Indeed, good strategy and good strategy execution are the most trustworthy signs of good management (Thompson et al 1998 p. 18).
MTN communications Ltd was one of the 3 initial GSM companies licensed by the NCC to provide telecom services to the Nigerian public. It commenced operations in August 2001 and has ever since been the biggest telecoms companies and one of the largest in all of Nigeria. Even since coming on board the Nigerian Telecommunication market in 2011, MTN Nigeria has made appreciable impact on the lives of Nigerians particularly in the area of investments, careers, product and services.
1.2 Statement of the problem
Business history shows that high performing enterprises often initiate and lead, not just react and defend. They launch strategic offensives to out-innovate and out-maneuver rivals and secure sustainable competitive advantage. They use their market edge to achieve superior financial performance; which translates into growth and ultimately survival
However, as good as the foregoing may seem, some organization invest so much resources on the design and implementation of corporate strategy and yet find it difficult if not