Corporate strategy as an effective tool for organization survival: (a study of mtn nigeria owerri, imo state

Project Abstract

This study investigates the role of corporate strategy as an effective tool for organizational survival, focusing on MTN Nigeria in Owerri, Imo State. In today's dynamic and competitive business environment, organizations need to develop and implement robust strategies to ensure their survival and success. The study aims to explore how MTN Nigeria has utilized corporate strategy to navigate challenges and achieve sustainable growth in the telecommunications industry in Owerri. The research employs a qualitative approach, using interviews and documentary analysis to gather data from key stakeholders within MTN Nigeria. The data is analyzed using thematic analysis to identify patterns and themes related to corporate strategy and organizational survival. The findings reveal that corporate strategy plays a crucial role in MTN Nigeria's survival and growth in Owerri. The company has developed a clear vision and mission, strategic objectives, and implementation plans that align with the dynamic business environment. By continuously monitoring the external environment, competition, and technological advancements, MTN Nigeria can adapt its strategies to remain competitive and meet the evolving needs of its customers. Furthermore, the study highlights the importance of strategic leadership in driving the implementation of corporate strategy within the organization. MTN Nigeria's top management is actively involved in setting strategic direction, making critical decisions, and ensuring the alignment of resources with strategic goals. This leadership commitment has enabled the organization to effectively execute its strategies and respond swiftly to market changes. Overall, the research demonstrates that corporate strategy is a vital tool for organizational survival, particularly in a competitive industry like telecommunications. MTN Nigeria's strategic approach has enabled the company to maintain its market position, attract and retain customers, and drive innovation in service delivery. The study provides valuable insights for other organizations seeking to enhance their strategic capabilities and improve their chances of survival in a dynamic business environment. In conclusion, the findings emphasize the importance of strategic planning, implementation, and leadership in ensuring organizational survival and success. By adopting a proactive and adaptive approach to corporate strategy, organizations can navigate challenges, seize opportunities, and achieve sustainable growth in the long term.

Project Overview

<p> <b></b></p><p><b><b>INTRODUCTION</b></b></p><p><b><b></b></b></p><b><b><p><b>1.1 &nbsp; &nbsp; &nbsp;</b><b>Background of the Study</b></p><p><b></b></p><b><p>The<br>ultimate of very corporate entity is to remain in business perpetually. This<br>will only be possible where the entity is able to generate enough returns on<br>investment in the face of constant changes in the ways things are done and high<br>level competition. Competition in the business environment is a battle for<br>superiority and survival (Pumpin 1987, p.6). However, every business that must<br>survive must have a competitive edge, which is a product of corporate strategy<br>. corporate strategy consists of the whole array of competitive moves and<br>business approaches that an organization employs in conducting its operations.<br>In drafting a strategic herse, management is saying that “among all the paths<br>and actions we could have chosen, we have decided to go in this direction and<br>rely upon these particular ways of doing business” (Thompson etal 1998, pp<br>14-15) and signals organizational commitment to specific markets, competitive<br>approaches and ways of operating.</p><p>Corporate<br>strategies are divided because of two very compelling needs, one is the need to<br>proactively shape and how a company’s business will be conducted while the<br>second is that of molding the independent decision and actions initiated by<br>departments, manages and employees across the company into a coordinated, company<br>wide game plan. The absence of this means that manager will have no framework<br>for weaving many different actions into a cohesive whole, no plan for uniting<br>cross department operations into a team effort.</p><p>Essentially,<br>the idea of corporate strategy has developed into a useful vehicle by which<br>organizations evaluated and modify the critical elements of their operations.<br>Nevertheless managers don’t deserve a gold star for designing a potentially<br>brilliant strategy, but failing to put the organizational means in place to<br>carry it out in high caliber fashion weal implementations and execution undermines<br>the strategies potentials and pave way for shortfalls in customers’<br>satisfaction and corporate performance. However, good strategy formulation<br>combined with good strategy execution does not guarantee that companies will<br>avoid periods of sub performance. Sometime it take several years for<br>management’s strategy make/strategy-implementing efforts to show good results.<br>In which case, in spite of the fact that corporate strategy does not absolutely<br>guarantee success at all times, nothing affects a companys’ ultimate success or<br>&nbsp;failure more fundamentally than how well<br>its management team charts the company’s long terms direction, develops<br>effective strategies moves and business approaches and implements what needs to<br>be done internally to produce good day-in day- out strategy execution. Indeed,<br>good strategy and good strategy execution are the most trustworthy signs of<br>good management (Thompson et al 1998 p. 18).</p><p>MTN<br>communications Ltd was one of the 3 initial GSM companies licensed by the NCC<br>to provide telecom services to the Nigerian public. It commenced operations in<br>August 2001 and has ever since been the biggest telecoms companies and one of<br>the largest in all of Nigeria. Even since coming on board the Nigerian<br>Telecommunication market in 2011, MTN Nigeria has made appreciable impact on the lives of Nigerians particularly in the area<br>of investments, careers, product and services.</p><p><b>1.2 &nbsp; &nbsp; &nbsp;</b><b>Statement of the problem</b></p><p><b></b></p><b><p>Business<br>history shows that high performing enterprises often initiate and lead, not<br>just react and defend. They launch strategic offensives to out-innovate and<br>out-maneuver rivals and secure sustainable competitive advantage. They use their<br>market edge to achieve superior financial performance; which translates into<br>growth and ultimately survival</p><p>However,<br>as good as the foregoing may seem, some organization invest so much resources<br>on the design and implementation of corporate strategy and yet find it<br>difficult if not impossible to survive. One then begins to wonder if corporate<br>strategy actually makes for &nbsp;corporate<br>survival.</p><p><b>1.3 &nbsp; &nbsp; &nbsp;</b><b>Purpose of the study</b></p><p><b></b></p><b><p>The<br>purpose of this research work include among other things.</p><p>1. &nbsp; &nbsp; &nbsp; &nbsp; <br>To find out the relevance of corporate<br>strategy to organization</p><p>2. &nbsp; &nbsp; &nbsp; &nbsp; <br>To determine the process of corporate<br>strategy.</p><p>3. &nbsp; &nbsp; &nbsp; &nbsp; <br>To find out the effect of corporate<br>strategy on the performance of an organization.</p><p>4. &nbsp; &nbsp; &nbsp; &nbsp; <br>To find out the reasons for failure of<br>corporate strategy in organization.</p><p><b>1.4 &nbsp; &nbsp; &nbsp;</b><b>Significance of the studys</b></p><p><b></b></p><b><p>Even<br>though virtually every organization pays lip services to the importance of corporate<br>strategy, not many organization make the best out of what it offers. This study<br>is thus unique, in the at it will not only ex-ray the importance of corporate<br>strategy, it will also highlight the pitfalls of its thereby revealing the<br>reasons thus add to knowledge and also provide a basis for further research.</p><p><b>1.5 &nbsp; &nbsp; &nbsp;</b><b>Research questions</b></p><p><b></b></p><b><p>In<br>order for solution to measure the effectiveness of corporate strategy as a tool<br>for organization survival, the following questions may be relevant.</p><p>1. &nbsp; &nbsp; &nbsp; &nbsp; <br>What is the relevance of corporate<br>strategy organization?</p><p>2. &nbsp; &nbsp; &nbsp; &nbsp; <br>What is the process of corporate<br>strategy?</p><p>3. &nbsp; &nbsp; &nbsp; &nbsp; <br>What is the effect of corporate<br>strategy on the performance of an organization?</p><p>4. &nbsp; &nbsp; &nbsp; &nbsp; <br>What are the reasons for failure of<br>corporate strategy in organization?</p><p><b>1.6 &nbsp; &nbsp; &nbsp;</b><b>Scope of the study</b></p><p><b></b></p><b><p>This<br>research work intends to focus on the corporate strategy as an effective tool<br>for organizational survival in MTN Nigeria Owerri Imo state.</p><p><b>1.7 &nbsp; &nbsp; &nbsp;</b><b>Definition of terms</b></p><p><b></b></p><b><p><b>Goals:</b><br>Determination of what business an organization should engage in that defines<br>it’s mission</p><p><b>Goal setting:</b><br>Process of establishing what a person or an organization should achieve at some<br>time in future.</p><p><b>Management: </b>A<br>process of getting things done through people and by people.</p><p><b>Survival:</b><br>The state of continuing to live or exist often in spite of difficulty, problem<br>or danger.</p><p><b>Corporate:</b><br>Involving or share by all the members of a group corporate responsibility.</p><p><b>Strategy:</b><br>Means of operationalisng schemes, methods which management hopes to develop or<br>move the organization forward.</p><p><b>Control:</b><br>TO check regulate, restrain, constrain, direct or to exercise authority or<br>power.</p><p><b>Interaction:</b><br>Any form of personal communication or contact between two or more people in<br>which the attitude or behaviour pattern relates.</p><p><b>Organization: </b>This<br>could be a company or group of people.</p><p><b>Industry: </b>A<br>group of companies that offer similar services.</p><p><b>Economy: </b>System<br>of the management and use of resources</p><p><b>Objective:</b><br>This is the unifying principle around which human energy clusters in the<br>organization.</p><p><b>Tool: </b>A<br>thin that helps you to do your job or achieve something.</p><p><b>Skill: </b>The<br>ability innate or acquired, which enables someone to perform a task proficiently.</p><p><b>Operation: </b>Intentional<br>action to change the physical or chemical characteristic of something.</p></b></b></b></b></b></b></b></b></b> <br><p></p>