STRATEGIC MANAGEMENT PRACTICES AND ORGANISATIONAL EFFECTIVENESS: A STUDY OF FLOUR MILL NIGERIAN PLC.

Abstract

This study investigates the role of strategic management practices on organizational effectiveness, focusing on Flour Mill Nigerian Plc. The research aims to examine how strategic management practices contribute to risk reduction, enhance organizational flexibility, improve competitiveness, and overall performance. Utilizing a survey research design, 120 questionnaires were distributed to participants, with 117 returned and analyzed using SPSS. Frequency distributions, simple percentages, and Pearson Product Moment Correlation were employed to test hypotheses at a 0.05 significance level. The findings reveal that effective strategic management significantly aids in risk reduction, enabling Flour Mill Nigerian Plc to better anticipate and manage potential challenges. Additionally, the study highlights that strategic management fosters greater organizational flexibility, allowing the company to adapt swiftly to market changes and internal dynamics, thereby enhancing its competitiveness and performance. Based on these findings, the study recommends several measures for Flour Mill Nigerian Plc. To further mitigate organizational risks, it is advised to implement comprehensive risk management frameworks, including updated risk assessment procedures and advanced risk mitigation technologies. To enhance organizational flexibility, the company should foster a culture of innovation, regularly review and revise strategic goals, and invest in employee training programs that promote adaptability and agile management practices. These recommendations aim to bolster the company’s ability to navigate the dynamic business environment and achieve sustained success.