Leveraging Competitive Strategies on Business Outcomes Post-Covid-19 Pandemic: Empirical Investigation From Africa

Abstract

Background: The novel coronavirus has damaged the global economy, and business outcomes such as low profitability, poor sales, and weak market share, including intense competition, are widespread within the business ecosystem; however, competitive strategies have been some of the business decisions in recent times. Aim: The study, therefore, examined the effects of competitive strategies on business outcomes of selected consumer goods companies listed in Nigeria, the most populous and largest economy in Africa. Methods and Sample: The study adopted a survey research design, with a population of 22,466 staff members, comprising regular employees and top- and middle-level managers of twenty consumer goods companies listed on the Nigeria Exchange Group (NGX). The study used a proportionate stratified sampling technique to draw a convenient sample for the analysis. 491 copies of the questionnaire were administered to the respondents, with a response rate of 97.76%. Results: Findings showed that competitive strategies significantly and positively affected business outcomes (Adj. R2 = 0.563; F5/1306 = 337.061, p<0.05). Conclusion: The study recommended that the consumer goods companies often refer to Fast Moving Consumer Goods (FMCG) listed in Nigeria must have a market-development mindset, invest in consumer education, and integrate an efficient supply chain management model.