Browsing by Author "SOKEYE, Abayomi Olalekan"

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    Strategic Management and Competitive Advantage in Hospitality Industries in Ogun State.
    (Bells University of Technology, 2023-05-10) SOKEYE, Abayomi Olalekan; Dr. Okafor Linus Izediuno
    The study ascertained the relationship between strategy formulation and competitive advantage: it investigated the relationship between strategy implementation and competitive advantage: it determined the relationship between strategy evaluation and competitive advantage and also examined the joint impact of strategy formulation, strange implementation and strategy evaluation on competitive advantage all with a view of accessing the relationship between strategic management and competitive advantage in the hospitality industries in Ogun state. The research adopted descriptive research design which is alto called survey research design. The instrument of the research design is questionnaire. Two hundred and thirty-eight (238) copies of the questionnaire were administered so hospitality industries in Ogun stare. but one hundred and sixty-one (161) were correctly attended to. ln analysing the questionnaire data analytical procedure of tables and percentage were used in classification of data. While the hypotheses of the study were tested using the Pearson correlation coefficient and multiple regression analysis in order to determine whether to accept or reject the null hypotheses (Ho). The results of the Pearson correlation coefficient rejected the null hypotheses (Null hypothesis 1, 2 and 3) and accepted the alternative hypotheses 1, 2 and 3. For hypothesis one, the coefficient of the Pearson Correlation was 0.878 and p<0.01 hence, the study accepted the alternative hypothesis that there is a significant relationship between strategy formulation and competitive advantage. Similarity. for hypothesis two, the coefficient of the Pearson Correlation was 0.907 and p<0.0l hence, the study accepted the alternative hypothesis that there is a significant relationship between strategy implementation and competitive advantage. Likewise, for hypothesis three. the coefficient of the Pearson Correlation was 0.85 and pe0.0l hence. the study accepted the alternative hypothesis that there is a significant relationship between strategic evaluation and competitive advantage. The final hypothesis was tested using multiple regression analysis. The result showed that strategic formulation, strategic implementation, and strategic evaluation with coefficients of 0.539, 8.843 and 0.497 all had a positive and significant impact on competitive advantage. From the findings of the study. the study recommended that organizations and business owners should ensure that strategy formulation objectives that are in line with the organization's objectives should be encouraged and adopted in the organization to achieve organizational objectives and hence competitive advantage.