Key Drivers for Strategic Organizational Survival in Nigeria: Case of Quantity Surveying Consultancy Firms
DOI:
https://doi.org/10.47963/jobed.v13i.2040Keywords:
Drivers, Strategy implementation, Nigeria, Quantity Surveying, Survival strategiesAbstract
The implementation of survival strategy is challenging because of the complexity of making strategic decisions that would ensure the continuous existence of the organization. For quantity surveying firms, several strategies have been suggested to survive challenging and turbulent economic environment. However, these firms are yet to gain insight into the factors that can influence or drive the implementation of appropriate survival strategies. Hence, the need for the study to examine the drivers to implementing survival strategy in quantity surveying firms in Nigeria. The study adopted the survey research approach and through the questionnaire, One Hundred and Thirty (130) quantity surveying firms were purposively selected in South-west, Nigeria. The 99 responses received from the principal partner or senior management personnel of these firms were analysed using descriptive and inferential statistics. From the result, it was revealed that the decision to implement survival strategies in quantity surveying firms is based on the desire of the firm to improve performance, operational efficiency, anticipating changes in firm, innovativeness, technical edge and so on. Additionally, the study categorized the drivers into five distinct factors driving the implementation of survival strategy thereby indicating that quantity surveying firms must focus on both internal and external driving forces. The prioritized drivers are strategic leadership and market intelligence, innovation and competitive edge, policy alignment and performance, cost discipline and project security and growth and competitive positioning. The study concluded that the implementation of survival strategies in quantity surveying firms would be successful when factors that can drive its implementation are carefully considered. Hence, this study suggests that the partners or top management of quantity surveying firms in Nigeria and worldwide should organize summit to deliberate on the pros and cons of implementing strategies as well as the driving force for each strategy.
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