STRATEGIC MANAGEMENT PRACTICES AND ORGANIZATIONAL PERFORMANCE

ABSTRACT

The study empirically investigated the effect of strategic management practices on organizational performance. Specifically, the study aimed at ascertaining the relevance and implication of strategic objectives, strategy formulation, strategic implementation, and strategy evaluation on the performances of business organizations in Nigeria. To achieve this aim, four research questions were raise, and four hypotheses generated. The study population comprised of registered businesses within the Benin metropolis, from which a sample of 170 respondents were selected using the convenient sampling technique. The study adopted a survey research design which entailed the use of questionnaire as research instrument in sampling the opinion of respondents on the subject matter. Data obtained from the respondents were analyzed using statistical descriptive mean, simple percentage, and frequency count, while the multiple linear regressions was utilized in testing the formulated hypotheses, via the Statistical package for Social Sciences (SPSS) version20. Findings obtained after due analysis revealed among other things that a statistically significant relationship subsists between strategic management practices and organizational performance; given a p-value of 0.00 at <5% level of significance. The study underscored the relevance of the four constructs in the study (strategic objective, strategy formulation, strategic implementation, and strategic evaluation), as they were found to significantly impact on the performance of organizations. Based on the findings, the study recommended among other things that Business organizations