Strategic Orientation and Corporate Goal Achievement: Evidence from Manufacturing Firms in Kogi State, Nigeria

Abstract

This study focused on strategic orientation and corporate goal achievement. The study determined how market orientation affects market share of manufacturing firms, and ascertained how entrepreneurial orientation affects profitability of manufacturing firms. The study used a survey research approach. The registered small, medium, and large manufacturing companies that operate in Kogi State made up the study's population. The study selected a sample size of 150 companies. The study distributed a standardized questionnaire to key decision-makers in the selected companies, such as managers, directors, and business owners, to gather data. Regression analysis was used to evaluate the hypotheses, while descriptive statistics were employed to characterize the respondents' characteristics. Finding showed that market orientation has a significant positive effect on market share of manufacturing firms (β= 0.658302; p-value < 0.01), and that entrepreneurial orientation has a significant positive effect on profitability of manufacturing firms (β= 0.619873; p-value < 0.01). The study concluded that strategic orientation can affect the achievement of corporate goals for manufacturing companies. The study recommended that to improve their market orientation and increase their market share, manufacturing companies should give top priority to competitive intelligence, market trends, and consumer wants. Furthermore, it recommended that to increase profitability, manufacturing companies should promote an entrepreneurial culture that rewards creativity, risk-taking, and initiative. Management should spend money on rewards programs and leadership development to encourage entrepreneurial endeavours at all organizational levels.