Effect Of Business Strategies On Organizational Growth In Shipping Companies In Lagos State, Nigeria

Abstract

The fact that the world around us is constantly changing requires that change must be studied by every organization and the various ways in which it presents itself to successfully handle and be able to move ahead of it. It is generally believed that organizational activities involve methods, processes, structures and widely embraced strategies carried out by managers to achieve set objectives. The study evaluated the effect of business strategies on organizational growth in shipping Companies in Lagos State, Nigeria. The specific objectives are to: (i) examine the effect of customer relationship management strategy on patronage base in shipping Companies in Lagos State, Nigeria. (ii) determine the effect of advertising business strategy on income base in shipping Companies in Lagos State, Nigeria. The study adopted research design method. The sample size of 197 respondents was drawn from population of 388 employees from selected shipping companies; Allray Maritime Service Ltd., RORO.com, and International Sureties in Lagos State, Nigeria. The methods of data technique used were; single regression, t-statistics, frequency table, mean and standard deviation. The result of the findings revealed that (i) there is a positive and significant effect of customer relationship management strategy on patronage base in shipping companies in Lagos State (t-statistics (53.992) > P-value (0.000); and (ii) The study revealed that there is a positive and significant effect of advertising business strategy on income base in shipping companies in Lagos State(t-statistics (26.349) >P-value (0.000).The study recommended that management of shipping Companies should ensure that their customer relationship management strategy is highly acknowledge in the organization in order to ensure customers satisfaction.