Impact of Growth Strategies on Business Profit A Study of Ashakacem Plc, Gombe-Nigeria
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 2
Abstract
Growth is important and key to the survival of any business venture. Competition in a highly regulated and in depressed economy like Nigeria requires that businesses devise means that are capable of increasing its relative market share and profits. Formulating and implementing effective growth strategies to enhance business profit is the concern of any dynamic looking organization. This is the main problem the paper wishes to address. Therefore, the objective of this paper is to review growth strategies with a view to ascertaining whether they could contribute to organizational profit. Secondary source of data was relied upon for the review, methodology and findings. Based on secondary sources of data, the paper found that growth strategies like market penetration, market expansion and development, product expansion and development, diversification and karma influence business profit. The study recommends that Ashakacem Plc should continue to formulate planned growth strategies that enhance investment and economic development. The study also contributes to knowledge to the understanding that growth strategies enhance profit in Cement Manufacturing Companies in Nigeria.
Authors and Affiliations
S. I. Dugguh PhD, Aki Isaac, Isaac Sunday Oke
Keywords
Related Articles
- EP ID EP409858
- DOI 10.9790/487X-2002092329.
- Views 109
- Downloads 0
The Influence of Service Quality on Customer Loyalty of Ethnic Gu-Lakudo Traders in Baubau City
This study aims to determine and analyze the influence of service qualityon customer loyalty of Ethnic Gu-Lakudo traders in Baubau City. The population in this study is all customers of Ethnic Gu-Lakudo traders in Baubau...
A Business Model and Swat Point of Views to Describe the Prepaid Electricity Business Unit in Indonesia National Electrical Company
In 2008, X Company as the sole provider of electricity in Indonesia tested first the application of prepaid electricity. Some expectations with the implementation of this prepaid electricity for customers, include electr...
Measuring Financial Inclusion in Jammu & Kashmir State: An Empirical Study
Finance is important for mobilising any economy. Governments across the world strive to provide access to finance to the commons. In India Financial Inclusion has become a key term lately and a plethora of initiatives li...
Perceived benefits of Human Resource Information System (HRIS) stimulate the efficiency of Human Resource Manager: a study on banking sector of Bangladesh
Workforce is the bloodline for a business organization. HRIS helps an organization to create information database regarding employee which generate opportunities to ensure sustainability of workforce to achieve goals. Th...
Comparative Analysis of Patient’s Satisfaction At Accredited Hospitals And Non-Hospitals in Mumbai
.