Evaluating the Impact of Strategic Decision-Making Processes on Firm Competitiveness in Nigeria
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Strategic decision-making processes are critical for sustaining competitive advantage and driving firm performance. In Nigeria, where market conditions are volatile and competition is fierce, the quality of strategic decisions can determine a firm's ability to navigate challenges and seize opportunities (Ibrahim, 2024). Effective decision-making involves gathering accurate market intelligence, analyzing competitive dynamics, and aligning organizational resources with strategic objectives. Recent studies (Ogunleye, 2023) have shown that firms employing structured decision-making frameworks—such as scenario planning and balanced scorecards—tend to outperform those with ad hoc strategies. However, many Nigerian firms face obstacles such as inadequate data, managerial inertia, and risk aversion, which impede their strategic agility. This study evaluates the impact of strategic decision-making processes on firm competitiveness by comparing performance metrics across firms with varying decision-making practices. It examines how the integration of digital analytics, stakeholder input, and flexible planning contributes to better strategic outcomes. The research aims to provide empirical evidence on the link between decision quality and competitive performance, offering recommendations for enhancing decision-making frameworks to improve overall firm competitiveness.
Statement of the Problem
Despite the acknowledged importance of strategic decision-making, many Nigerian firms exhibit inconsistent performance due to suboptimal decision processes. Poor data management, reactive rather than proactive planning, and limited integration of market intelligence contribute to strategic missteps that weaken competitive positioning (Chinwe, 2023). This gap between optimal and actual decision-making practices leads to missed opportunities, reduced innovation, and diminished market share. The challenges are compounded by external pressures such as economic uncertainty and rapid technological change, which demand agile and informed strategic responses. This study seeks to identify the deficiencies in current decision-making processes and to assess their impact on firm competitiveness. The goal is to provide actionable insights into how Nigerian firms can refine their strategic frameworks to better respond to market dynamics and enhance performance.
Objectives of the Study:
• To assess the impact of strategic decision-making processes on firm competitiveness.
• To identify key shortcomings in current decision-making practices.
• To propose improvements for enhancing strategic agility and competitiveness.
Research Questions:
• How do strategic decision-making processes influence firm competitiveness in Nigeria?
• What are the main deficiencies in current decision-making frameworks?
• Which improvements can enhance strategic outcomes and market performance?
Research Hypotheses:
• H1: Effective strategic decision-making processes positively impact firm competitiveness.
• H2: Poor data integration and reactive planning hinder competitive performance.
• H3: Structured decision-making frameworks improve overall firm performance.
Scope and Limitations of the Study:
Focuses on medium-to-large firms across competitive sectors in Nigeria. Limitations include differences in managerial styles and difficulties in measuring decision quality.
Definitions of Terms:
• Strategic Decision-Making Processes: Structured approaches to formulating and executing long-term strategies.
• Firm Competitiveness: The ability of a firm to achieve superior market performance.
• Decision-Making Framework: Tools and methodologies used to guide strategic choices.
Related Project Materials
A critical analysis of social media advertising on brand recognition: A study of a fashion label in Abuja.
Background of the Study
Social media advertising has emerged as a powerful tool for enhancing brand recognition, particu...
INVESTIGATION OF MARKETING STRATEGIES AND ITS SIGNIFICANCE ON THE PERFORMANCE OF SMALL SCALE AND MEDIUM ENTERPRISE IN LAGOS STATE, NIGERIA.
ABSTRACT
The study investigates of marketing strategies and its significance on the performance of small scal...
ENDSARS PROTEST: A CALL FOR THE ERADICATION OF CORRUPTION IN NIGERIA
ABSTRACT
This study was carried out on ENDSARS protest: a call for the eradication of corruption in Nigeria. To achieve...
CAUSES OF UNEMPLOYMENT AMONG THE YOUTH
EXCERPT FROM THE STUDY
George Ogola (2019) analyzed some characteristics of unemployment in Tororo and the influence of...
The impact of hands-on laboratory practice on nursing students’ understanding of human anatomy in Babcock University, Ogun State
Background of the Study
Understanding human anatomy is a foundational component of nursing education, as it provides students with critical...
THE ROLE OF EMOTIONAL INTELLIGENCE IN VOCATIONAL SKILL DEVELOPMENT
ABSTRACT: The Role of Emotional Intelligence in Vocational Skill Development is a critical factor in enhancing students' overall competenc...
EFFECT OF TWITTER BAN ON MOBILE DATA USAGE
ABSTRACT
This study was carried out to examine the effect of twitter ban on mobile data usage in...
THE ROLE OF VOCATIONAL EDUCATION IN SUPPORTING SUSTAINABLE AQUACULTURE PRACTICES
ABSTRACT: The role of vocational education in supporting sustainable aquaculture practices is critical for promoting environmentally friendly...
The Role of Public Relations in Promoting Family Planning Campaigns: A Study of Birnin Gwari LGA, Kaduna State
Background of the Study
Family planning is a vital public health strategy for managing population growth, improving materna...
EFFECT OF HEALTH AND SAFETY SERVICE ON EMPLOYEE PERFORMANCE, A STUDY OF NIGERIAN BOTTLING COMPANY ENUGU
Background Of The Study
Any organization's health and safety is a critical component that requires careful considera...
