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EFFECTS OF STRATEGIC MANAGEMENT PRACTICES ON FIRM PERFORMANCE OF MEDIUM AND LARGE TELECOMMUNICATION COMPANIES IN RIVERS STATE, NIGERIA
Abstract
The strategic planning process is used by management to establish objectives, set goals, and schedule activities for achieving those goals and includes a method for measuring progress Therefore, the general the objective of this paper is to exanimate effect of strategic management practices on firm performance in telecommunication companies in Rivers State, Somalia. The study explored the effects of Strategy formulation, strategy implementation and strategy control and evaluation on firm performance of telecommunication in Rivers State The target population of this study was top managers, middle managers and normal employee of some telecommunication companies in Rivers State. There are more than five telecommunication companies Rivers State but our study will focus on three Telecommunication Companies in Rivers State. The target population of this study was 62. Therefore, since the study population (N) is 110. Error of tolerance used was 0.05. Thus, the sample size is 54 respondents. The study collected primary data which was analyzed using descriptive statistics including frequencies tables, percentages, mean scores, standard deviation. Data collected from questionnaires will code and keyed into a computer. Quantitative data will analyze using the Statistical Package for Social Sciences (SPSS). Descriptive statistics including the means and standard deviations were used to analyze quantitative data and capture the characteristics of the variables under study. Regression model was applied to determine the relationship between Strategy Formulation, Strategy implementation and Strategy control and evaluation as the independent variables and firm performance of telecommunication companies in Rivers State as the dependent variable. Pearson’s product moment correlation analysis is also used and it’s a powerful technique for determine the relationship among variables. Correlation coefficient will be used to analyze the strength of the relations between variable.
Key words: Strategy Formulation, Strategy implementation, Strategy control and Evaluation, Firm Performance