TURNAROUND STRATEGIES AND ORGANISATIONAL PERFORMANCE OF THE MANUFACTURING INDUSTRY IN SOUTH-SOUTH, NIGERIA.

Abstract

The study examines the relationship between turnaround strategies and organizational performance of the manufacturing industry in South-South, Nigeria. The content scope covers the predictor variable which is turnaround strategies with its dimensions as retrenchment, and repositioning; while the criterion variable organizational performance has measures as operational excellence and service quality. The geographical scope is five (5) manufacturing firms in the South-South, Nigeria. The unit of sampling or analysis is at the micro-level. Thus, it covers 102 managers and supervisors in these manufacturing companies. The study was underpinned using the baseline theory of the Distress-Recovery model. It adopted the Cross-sectional survey design. The Partial Least Square-Structural Equation Modelling (PLS-SEM) data analysis method was adopted. The study found that retrenchment and repositioning could enhance the operational excellence and service quality, hence improve the correlation between turnaround strategies and organizational performance. It was concluded that turnaround strategies should be structured into the manufacturing firms to enhance their performance. Therefore, the study recommended that; manufacturing firms should develop and implement a turnaround strategic development program to enhance resourceful leadership skills of managers at all levels to boost their performance.