Business Growth Strategies and Operational Stability of Bakery Companies in South-South Nigeria

Abstract

The main purpose of the study was to determine the influence of Business Growth Strategies on Operational Stability of Bakery Companies in South-South Nigeria. Specifically, the study determined the influence of market penetration and diversification of business risk on operational stability of bakery companies in South -South Nigeria. two research questions were answered in the study and two null hypotheses were tested at 0.05 level of significance. A descriptive survey design was adopted for the study. The population of the study comprised all 439 staff from bakery companies in South -South Nigeria. A questionnaire designed by the researcher was used for data collection. Cronbach's Alpha was used to compute internal consistency reliability. Simple linear regression was used to answer research questions and to test the null hypotheses. The findings of the study revealed that application of market penetration and diversification of business risk have influence on operational stability of bakery companies in South-South Nigeria and there is no significant influence of business growth strategies on operational stability of bakery companies in South-South Nigeria. Based on the findings of the study, it is concluded that business growth strategies are increasingly influencing operational stability of bakery companies in South-South Nigeria. It was therefore recommended among others that management of bakery companies should adopt business growth strategies in their operations to ensure they have operational stability and competitive advantage over their counterparts.