Strategic Management Practices as a Mechanism for Achieving High Organisational Productivity: An Empirical Investigation

Abstract

One of the key factors influencing an organisation’s profitability and success in the business world is its productivity. This explains why manufacturing companies want to reach high productivity levels in order to generate more profit, succeed and stay relevant in the marketplace. This study examined the relationship between strategic management practices and organisational productivity (OP) of aluminium manufacturing firms in Delta State, Nigeria. To obtain primary data from study participants and determine the relationship between the study’s constructs, the researcher used survey research designs in this study. A total of 383 copies of the questionnaire were given to the study participants in order to assess the study hypotheses, of which 348 were considered to be valid. Both interitem covariance and multiple regression analysis were utilised in this study for data analysis via Stata. Findings revealed that the dimensions of strategic management practices (environmental scanning (ES), strategy formulation (SF), strategy implementation (SI) and strategy evaluation (SE), have a positive significant effect on OP. Based on the study findings, it was recommended that organisations, particularly aluminium firms, should be actively engaged in strategic management practices like continual and effective ES, sound SF, timely and efficient SI and a standard process for SE in order to achieve a high level of OP.

Keywords: Strategic Management Practices, Environmental Scanning, Strategy Formulation, Strategy Implementation, Strategy Evaluation, Organisational Productivity

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