Strategy and Business Policy as Mechanisms for Competitive Future: An Empirical Investigation of Manufacturing Firms in Nigeria

This study empirically examines the relationship between strategy and business policy mechanisms and the competitive future of manufacturing firms in Nigeria. Specifically, it investigates the relationship between growth strategy and competitive future, as well as the relationship between competitive strategy and the competitive future of manufacturing firms. The study employed a cross-sectional survey research design. A total of 248 senior managers/executives of manufacturing companies in Rivers State, Nigeria was administered a structured questionnaire. Hypotheses were tested and relationship strengths and directions between variables determined using the Pearson product-moment correlation coefficient. The findings show that there are strong positive correlations between the study variables. There was a positive correlation between growth strategy and competitive future (r = 0.641, p < 0.05). The competitive strategy also showed a positive correlation with competitive future (r = 0.759, p < 0.05). The results confirm that the two strategic variables are significantly related to firms' competitive future. The results indicate that the growth and competitive strategy of manufacturing companies should be designed considering the strategic opportunities to achieve long-term competitive advantage. Managers should take time to invest in research and development-based strategies and differentiation approaches to help strengthen their competitive position. This study contributes to the strategic management literature by providing empirical evidence from the Nigerian manufacturing sector, extending the application of resource-based view and emergent strategy theories in an African context. The study fills a gap in the literature by empirically validating the relationship between strategic mechanisms and competitive outcomes in a developing economy setting.