IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF SOCIAL SCIENCES AND MANAGEMENT RESEARCH (IJSSMR )

E-ISSN 2545-5303
P-ISSN 2695-2203
VOL. 9 NO. 1 2023
DOI: https://doi.org/10.56201/ijssmr.v9.no1.2023.pg56.71

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Exploring the Relationship between Strategic Formulation and Pharmaceutical Firms’ Productivity in Nigeria

Emmanuel Tyohemba AGBA, Omokide Sherifat ALIU, & Gusam zachariah NUHU

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Abstract

The primary objective of this study is to investigate the relationships between strategy formulation and pharmaceutical firms’ productivity in Nigeria. The study used a descriptive research design. The total of fifty-five (55) senior management staff (complete census) of the selected firm participated in the study while smart partial least squared (SMART PLS) 3.0 was adopted to determine the extent of relationships between strategy formulation and pharmaceutical firms’ productivity. The statistical results show that strategy formulation significantly influence quality service delivery, customers responsiveness, employee engagement and performance of the pharmaceutical firms in Nigeria. The study recommends that efforts should be made by the management of the pharmaceutical firms to regularly update their mission statement, systematic appraisal of internal operations quality in line with the current happenings in the business environment, timely identification of opportunities and threats to foster improve productivity.

keywords:

Strategy formulation, quality service delivery, customers responsiveness, organisational productivity, and employee engagement

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