CORPORATE SURVIVAL AND GROWTH STRATEGIES IN A COMPETITIVE BUSINESS ENVIRONMENT

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CORPORATE SURVIVAL AND GROWTH STRATEGIES IN A COMPETITIVE BUSINESS ENVIRONMENT

ABSTRACT

Competition has become the norm of the day in modern economy. The world has become a global village, with modern technology and sophistication business competition has blossom in our present age. Modern business organization does not only compete with local industries but also foreign industries. While on one hand, it has given room to increase varieties of goods available to consumers and improved quality of the products, on the other hand, strive competition has led to the failure of many business enterprises.  Thus, business survival and growth in the midst of competition has become the pivot goal at the management of every organisation. Necessary information we obtained through structured questionnaire administered on the direct clients and advertising agents of the company.  A special questionnaire was also designed for Karrington staff.  The survey involved 55 clients and staff.  The corporate survival and growth strategies of the company and their limiting factors were identified.  The result indicates that the growth of the company can be hinged on the quality control and modern technology.  This has given the company a competitive edge over its competitors.  This had also helped the company to secure customers loyalty over a long period of time.

 

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