ADOPTING PARTNERSHIP STRATEGY FOR ACHIEVING ORGANIZATIONAL GOAL AND OBJECTIVES
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- NGN 5000
Abstract
This study was carried out on adopting partnership strategy for achieving organizational goal and objectives. Organizations are finding it difficult to predict their long-term survival due to the ever dynamic business environment resulting in different opportunities and challenges. They therefore have to craft and adopt fail proof strategies to ensure sustainability. The study was carried out on Small and medium businesses in Kaduna state. The study objectives were to establish the partnership strategies adopted by organizations for achieving organizational goals and objectives and the challenges faced when implementing these strategies. Case study design was adopted for this research. Data was collected primarily using the interview guides. The interviewees were the directors. Content analysis used to analyze the data. The key findings of the study were that the partnership organization has and continues to adopt various strategies, which include, fund diversification, human resource sustainability, strategic alliances and partnerships and social enterprises. These strategies have and continue to make the partnership organization sustainable. However, although these strategies are well crafted, without proper implementation, sustainability of the organization would be a mirage. The study established that funding sources were diminishing; it is difficult to recruit, train and retain highly qualified personnel with uncertainty in funding. Moreover, finding organizations with similar goals, culture and practices has been a challenge when forging lasting alliances. Consequently, financial management of proceeds from commercial enterprises has been an uphill task. The study recommends that the partnership organization should engage financial experts to manage the finances prudently, set clear policies on utilization of proceeds from commercial enterprises, proper capacity building, and proper communication channels and involving all employees in strategy formulation to implementation, some of these challenges can be mitigated. Some of the limitations encountered include: difficulties in making generalizations from the study, time constraints; the interviewees had several interruptions from colleagues and the organization stakeholders and limited information from the limited number of interviewees. The study focussed on the partnership strategies adopted by a local grass root organization, the study can be extended to survey a large number of for public benefit organizations so as to determine which partnership strategies are more effective.
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