International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 7, Issue 2, pp: (1211-1215), Month: October 2019 - March 2020, Available at: www.researchpublish.com
STRATEGIC NETWORK AND CORPORATE RESPONSIVENESS IN THE NIGERIA AVIATION SECTOR Christopher Akpotu, Ph.D Department of Management Niger-Delta University Wilberforce Island Amassoma, Nigeria. email: chrisakpotu4u@yahoo.com
Abstract: The dynamic nature of the business environment alongside depleting organizational resources has engendered building strategic relationship as approaches to managing. There is also the need to promptly respond to market needs especially with the increased level of competition amongst firms. In this light, this study seek to examine the empirical relationship between strategic networks and corporate responsiveness in the Nigerian aviation sector. The study was conducted through a cross –sectional survey design therefore used the questionnaire to generate data from a sample of 16 listed firms operating in the downstream sector in the Aviation industry. The instrument has total item reliability Cronbach alpha of 0.78. from the data generated and analyzed, it was clearly shown that strategic networks correlates strongly with corporate responsiveness. The technical network component of strategic network relationship is positive, strong and significant while a negative relationship exist between virtual network and corporate responsiveness. The study concludes that strategic network relationship provides capabilities for relating firms to guarantee corporate responsiveness. The study recommends that firms should create structural linkage that supports both intra and inter firm strategic relationships that facilitate goal attainment. Keywords: Administrative, Promptness, Strategic Network, Technical, Virtual, Responsiveness.
1. INTRODUCTION The increased level of competition amongst firms in same industry has triggered market concerns. This has been increasingly the case when attention is focused on changing and dwindling economies of developing nations with attendant effect on consumer consumption patterns. Firms in this circumstance are fast initiating strategic means that are primarily market oriented. Indeed, corporate strategic focus is aimed at responding promptly to market needs while at the same time innovatively bringing new products to market. The concept of corporate responsiveness is undoubtedly and strategically apt to the response required to stem the competition which Prahalad & Hamel (1990) described as hypacompetitive. Responsiveness to the market place according to Gilbertson (2013) requires a commensurate degree of overhauling work processes, administrative protocols and procedures and at same time creating linkages that supports the value chain for value added service delivery. Ikenga (2014) is of the view that sustained corporate response to the market place results from firm ability to establish critical links that guarantee market intelligence and attendant response. Recently, the Nigerian Aviation sector has instigated and initiated policies aimed at improving quality air service delivery in the wake of road transit security challenges. It is common knowledge that there is increase in air transport patronage resulting from on-line bookings which afford many travelers the opportunity of reduced air fares compared to on-the-spot air fare booking. The implication is that the operators in the sector should expectedly deploy strategic initiatives that facilitate prompt and timely response to the imposing need of quality service delivery. Badru (2014) argues that cumulating resources through valued networks enhances firm capabilities and amplify capacity to meet market needs.
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