THE INFLUENCE OF CORPORATE STRATEGY ON BUSINESS PERFORMANCE
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- 1-5 Chapters
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- NGN 3000
Abstract:
The objectives of this research are to (1) explore how corporate strategy influences business performance, (2) determine the elements of corporate strategy that contribute most to performance improvement, and (3) assess the correlation between strategic alignment and business outcomes. The study adopts a survey research design for its ability to collect large-scale data efficiently. Utilizing Taro Yamane's formula, a sample size of 370 respondents was selected to ensure representativeness. The study was conducted in the banking sector in Lagos, Nigeria, known for its strategic emphasis on corporate strategy. The reliability coefficient score of the survey was 0.88. Findings revealed a strong positive correlation between well-defined corporate strategies and improved business performance, highlighting the importance of strategic alignment and resource allocation. Recommendations include the continuous evaluation of corporate strategies to ensure they align with market trends and organizational goals, and the integration of strategic planning into the corporate culture to foster sustained performance.
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