Concentration Strategy and Organizational Performance: A study of Beloxxi industries limited, Ogun State, Nigerian
Abstract
Purpose: This study examines the effect of Concentration Strategy on the organizational performance of Beloxxi Industries Limited in Ogun State, Nigeria. Methodology: A survey was conducted with 161 respondents and data were analyzed using multiple regression. Findings: findings revealed that Product Concentration (p = 0.000), Market Concentration (p = 0.013), Resource Concentration (p = 0.026), and Strategic Alliances (p = 0.000) all had p-values below the 0.05 significance level, indicating that each factor significantly and positively affects organizational performance. Originality/Value: This revealed that, a balanced concentration strategy is essential for enhancing performance, as evidenced by Beloxxi Industries. It was recommends that firms should focus on developing and promoting core products that align with consumer demand to optimize resources and improve market penetration. Additionally, investing in market research to target high-growth segments, adopting lean management practices for efficient resource use, and nurturing strategic alliances to boost competitive advantage are advised. These strategies collectively enhance organizational performance, demonstrating their importance in manufacturing firms like Beloxxi Industries.
Keywords
Concentration StrategyOrganizational performanceResource concentration
References
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