CORPORATE VISIONING AS A STRATEGY FOR ORGANIZATIONAL TRANSFORMATION (A STUDY OF THREE SELECTED TRANSPORT COMPANIES IN ENUGU STATE) ABSTRACT This research work, examined corporate visioning as a strategy for organizational transformation, A study of three selected transport companies in Enugu State of Nigeria. The objectives of the study include to: investigate the effect of corporate visioning on changes in organization’s mission, ascertain the relationship between corporate visioning and changes in organization’s structure, determine the effect of corporate visioning on changes in organization’s culture and evaluate the relationship between corporate visioning and organization’s system. The sources of data used were the primary and secondary sources of data. The population of the study was 274 while the sample size of 163 was determined using the Taro Yamane’s formula. The data collected was presented in tables of frequencies, percentages using the five point likert scale. The hypotheses were tested using the chi-square distribution formula. The findings include that corporate visioning has a positive effect on changes in organization’s mission, corporate visioning has a significant relationship with changes in organization’s structures, corporate visioning has a positive effect on changes in organization’s culture and corporate visioning has a significant relationship with and organization’s system. The researcher concluded that corporate visioning is an effective strategy for organizational transformation. It was also recommended that organizations in the transport industry should always involve shared ideas for organizational transformation, management of organizations should also consider services of the organization’s corporate vision content, organizations should always involve corporate visioning to a large extent and an organization’s market should always be considered as it has a significant relationship with transformation of the organization TABLE OF CONTENTS CHAPTER ONE INTRODUCTION 1.1 Background of the Study 1.2 Statement of the Problem 1.3 Objectives of the Study 1.4 Research Questions 1.5 Statement of Hypotheses 1.6 Significance of the Study 1.7 Scope of the Study 1.8 Limitations of the Study 1.9 Historical Background of the Study 1.10 Operational Definition of Terms
CHAPTER TWO REVIEW OF RELATED LITERATURE 2.1 Conceptual Framework of the Study 2.2 Theoretical Framework of the Study 2.3 Empirical Review 2.4 Summary of Review of Related Literature 2.5 Gap in the Review of Related Literature CHAPTER THREE METHODOLOGY 3.1 Research Design 3.2 Sources of Data 3.2.1 Primary Sources of Data 3.2.2 Secondary Sources of Data 3.3 Area of the Study 3.4 Population of the Study 3.5 Sample Size Determination 3.6 Instruments for Data Collection 3.7 Validity of the Instrument 3.8 Reliability of the Instrument 3.9 Method of Data Presentation and Analysis CHAPTER FOUR DATA PRESENTATION, ANALYSIS AND DISCUSSION OF FINDINGS 4.1 Data Presentation and Analysis 4.2 Bio-Data 4.3 Data Relating To Research Questions 4.3.1 Research Question One 4.3.2 Research Question Two 4.3.3 Research Question Three 4.3.4 Research Question Three 4.4 Test of Hypotheses 4.4.1 Test of Hypothesis One 4.4.2 Test of Hypothesis Two 4.4.3 Test of Hypothesis Three 4.4.4 Test of Hypothesis Three 4.5 Discussion of Findings 4.5.1 Discussion Based on Hypothesis One 4.5.2: Discussion Based on Hypothesis Two 4.5.3: Discussion Based on Hypothesis Three 4.5.4 Discussion Based on Hypothesis Four CHAPTER FIVE SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS 5.1 Summary of Findings 5.2 Conclusion 5.3 Recommendations 5.4 Contribution to Knowledge 5.5 Suggestions for further Research List of References Appendix Questionnaire CHAPTER ONE INTRODUCTION 1.1 Background of the Study It is believed that a clearly articulated vision, fully implemented across an organization, makes a profoundly positive difference. This explains why some organizations state their visions right from their inception, while others believed that articulating and implanting a growth vision was the key to getting them out of trouble, when their very survival was at stake (Nwatoka, 2015). In the words of Collins (2014), visions offer a value based direction for the organization and provide a rationale for a strategic decision making. Thus, corporate visioning is a mental image of a possible and desirable future state of the organization, which articulate a view of a realistic, credible, attractive future state of the organization. Furthermore, vision is like the headlights of a vehicle on a road at night, which shows the way to the destination on a dark path avoiding any accidents and carefully leaving behind the other cars on the road (Roberts, 2013). Most visions reflect the dream of the founder/chief executive. The founder or chief executive, usually charts out an idea or vision for the firm and all other members are compelled to share the vision and work for its fulfillment. However, with globalization, corporate vision has gone beyond one man’s dream or vision. Moreover, a firm may develop a new idea, product, services or inventions, which did not previously exist. This can ignite and chart out a vision for the firm (Person, 2014). Rooting around in the territory of a problem, an attempt to investigate and find solutions to a problem can open up avenues for discovering new or better methods or idea, which can lead to vision creation for the firm. This particular method of vision creation has been the key to getting many chief executives out of trouble, when their survival was at stake (Baum, 2014). Therefore, it can be said that, all studies lend support that vision is a core antecedent of customer satisfaction and high organizational performance. Without meaningful corporate vision content, the vision attributes are unlikely to significantly have any impact on corporate performance and its organizational transformation either. Therefore, its content or imagery is critical to the future of their organization. The content of a vision may focus on products, services, market the organization or even shared ideas to form the central driving image. Transformation is another occasion for visioning, when an organization is in trouble (Mintzberg, 2011). While vision is called into play at founding and in crises, it also may be awakened in crises or when there is a wake up call for staff or board to re-examine culture and operations. Many empirical studies have confirmed that having a strategic vision is linked to competitive advantage, enhancing organizational performance and achieving sustained organizational growth and transformation. It is in view of this that this research examined corporate visioning as a strategy for organizational transformation in three selected transport organizations in Enugu State of Nigeria. 1.2 Statement of the Problem The consequences or effects of not having a clearly articulated vision in an organization, could lead to non-motivated workforce, inability to innovate and transform to move with time and hence, cannot meet the taste of their customers, leading to bankruptcy and retrenchment of labour force in large numbers. It can be discovered from the above points that many organizations or firms do not plan or have vision for future growth of their organization of which their non-articulated vision at long-run may result to the firm or organization experiencing a low workforce and low productivity due to lack of motivated workforce and visionary which this research work is here to investigate . 1.3 Objectives of the Study The general objective of the study was to examine corporate visioning as a strategy for organizational transformation. However the specific objectives include to: 1. investigate the effect of corporate visioning on changes in organization’s mission. 2. ascertain the relationship between corporate visioning and changes in organization’s structure. 3. determine the effect of corporate visioning on changes in organization’s culture. 4. evaluate the relationship between corporate visioning and organization’s system. 1.4 Research Questions The following questions will serve as guide to this study based on the objectives. 1. What is the effect of corporate visioning on changes in organization’s mission? 2. What is the relationship between corporate visioning and changes in organization’s structures? 3. What is the effect of corporate visioning on changes in organization’s culture? 4. What is the relationship between corporate visioning and organization’s system? 1.5 Statement of Hypotheses The following hypotheses were formulated to guide this study Hypothesis One H0: Corporate visioning does not have positive effect on changes in organization’s mission. H1: Corporate visioning has a positive effect on changes in organization’s mission. Hypothesis Two H0: Corporate visioning has no significant relationship with changes in organization’s structures. H1: Corporate visioning has a significant relationship with changes in organization’s structures.. Hypothesis Three H0: Corporate visioning does not have a positive effect on changes in organization’s culture. H1: Corporate visioning has a positive effect on changes in organization’s culture. Hypothesis Four H0: Corporate visioning has no significant relationship with and organization’s system. H1: Corporate visioning has a significant relationship with and organization’s system.
1.6 Significance of the Study This research work will be beneficial to the managers of transport companies because they will understand that a meaningful content vision is the driving force for all the organization’s activity. The government will benefit from the study as the success of the transport sector, will lead to economic development and subsequently create jobs in Nigeria. The researcher will benefit as the study is a pre-requisite for the award of a Bachelor of Science (B.Sc) Degree in Business Administration. The universities will benefit as the research work increases their data bank. Finally, the research work serves as a reference material for further research on this topic. 1.7 Scope of the Study This research work covered corporate visioning as a strategy for organizational transformation. The three transport companies selected for study are Autostar Gallery at Emene, ABC Transport Plc at Ogui road and Young Shall Grow Motors Limited at Holy Ghost, Adjacent East Central Library Enugu.
1.8 Limitations of the Study The researcher encountered some impediments in the course of carrying out this research work, such as: Insufficient Fund: There was not enough fund to do all that was required Time: Given the short time allowed, it was not easy combining the lecture time and the time allocated for this research. I overcame this limitation through the help of their managers who educated and sensitized them by letting them know, that this is just for the academic exercise. Negative Attitude of the Respondents: The members of staff of the three selected organizations were economical with information. They thought the researcher was sent by their employers to get information which could be used to victimize them. 1.9 Historical Background of the Study 1.9.1 Auto Star Gallery Limited Emene Auto Star Gallery Limited was established in August 2002 to engage in distribution, maintenance, repair and marketing of automobiles in Nigeria. The company is one of the distribution of Peugeot Automobiles Nigeria Limited (PAN) and has been selling Peugeot cars to numerous customers, particularly in the south east zone of Nigeria. the company also stocks other brands. The company, with its head office at Emene Industrial Layout, Enugu has branch office at No 5 Ikorodu Road, Jibowu, Lagos and at Utoko Plot 484, along Utako-Jab Expressway, Abuja. The company is structured under four division marketing and sales; workshop, spare parts and finance and administration, each headed by highly qualified professionals. The company also established a subsidiary “Auto Star Executive Shuttle” to engage in transport business in Nigeria. the division runs two modern show rooms, one at the head office in Enugu, the other at the Abuja office. There are special products being run by the division including the credit sale schema which allows a certain percentage down payment own balance of the cost of the car spread over a certain period of time. Mission of the organization: to employ the most modern technologies and best qualified staff at all times to provide professional contemporary global standard services to our highly valued customers whom we regard as partners. Vision of the organization: to become a leader in the business of automobile marketing distribution repair and maintenance. 1.9.2 ABC Transport Plc ABC Transport Plc commenced operation in road passenger transportation on February 13, 1993 as an off-shoot ofRapido Ventures with a view to running a modern road transportation system in Nigeria. in march 2003, Capital Alliance Private Equity (CAPE) acquired 30% shares of ABC transport. With the Acquisition, Capital Alliance (Nigeria) became stakeholders in ABC TRANSPORT, a partnership that re-positioned the company for greater performance. ABC Transport operates luxury bus services according to accepted international standards of road transportation. Its services are specially designed for distinguished travelers who would otherwise use air service. The operations within and outside Nigeria are carried out in ultra modern terminals, with confortable lounges in various cities like Lagos (Jibowu and Ammuwo-Odofin), AAba, Owerri, Port-Harcourt, Abuja, Enug, Onitsha, Umuahia, Jos, Mbaise, Bolade and Accra (Ghana). ABC buses are dubbed with the company’s trademark the reindeer. The choice of the reindeer as the company’s symbol was made after a careful study of the peculiarities of the animal which is strong, fast and moves in herds. For the company’s remarkable achievement in transportation, ABC Transport was adjudged the best transporter in Nigeria by the chartered institute of Transport, Nigeria and has since then consistently won the national Bus operator of the Year Award along with other accolades by renowned bodies. 1.9.3 Young Shall Grow Motors Limited Young Shall Grow Motors Transport commenced business in 1972 as a mini-bus transport operator plying Enugu-Onitsha Onitsha in the East-Central State of Nigeria. by 1973, the company moved its main operational based from Onitsha to Lagos and expanded into commuter bus business which Blossomed from a fleet of two (2) locally built Mercedes Benz 911 buses to over 40, within a period of seven (7) years. Young shall Grow Transport launched in inter-state passenger conveyance services in 1978 with a new Brazilian made Mercedes Benz 0362 Luxury bus which operated along Lagos-Onitsha-Owerri route. Favorable customer response to the company’s innovative and satisfactory services led to a rapid growth of the company’s fleet to over 150 luvxury buses over the next six (6) years. Following this rapid growth, Young Shall Grow Motors Limited (YSGML) was incorporated as a private limited liability company in 1984 with the main Objective of expanding its business as an inter-state luxury bus operator. Today, Young Shall Grow Motors Limited is about the biggest luxury bus company in Nigeria. its fleet of over 500 serviceable vehicles transverses all sections of Nigeria. with its head office in Lagos, the company now has offices in the following cities: Ibadan in the west Abuja, Kano, Sokoto, Maiduguri, Jos and Yola in the north and Onitsha, Neni, Enugu, Owerri, Aba, Umuahia, Port Harcourt, Uyo and Calabar in the eastern part of Nigeria. today Young Shall Grow Motors Transport now convey passengers to west African countries such as Ghana, Cote d’ viore(ivory Coast), Benin Republic Mali and Burkina faso. To meet the qualitative demands of the century the company’s fleet includes state-of-the art-conditioned luxury buses including sophisticated double-decker Buses all of which are built to cope with the Nigeria roads. In 2007 Young Shall Grow came up with another kind of transport bus called the Hiace mini bus popularly known as commuter bus, currently young shall grow transport limited introduced more commuter buses (Hiace) to the bus system and still working hard to do more for the satisfaction of our esteemed customers. Currently the Young Shall Grow transport company have sufficient buses that commute virtually all round Nigeria and its west coast routes still with the same high standard that will glee our customers taste. 1.10 Operational Definition of Terms Vision: This is a description of something, an organisation, a corporate culture, a business, a technology, an activity, in the future. It is a mental perception of the kind of environment an individual, or an organisation, aspires to create within a broad time horizon and the underlying conditions for the actualisation of this perception. Corporate Visioning: This is a mental image of a possible and desirable future state of the organisation which articulates a view of a realistic, credible, attractive future for the organisation. Strategy: This is the pattern or plan that integrates an organization’s major policies and actions leading into a cohesive whole. Organizational Transformation: This takes place when there is a change in the way the business is done or in the event of a re-engineering or restructuring activity.
CORPORATE VISIONING AS A STRATEGY FOR ORGANIZATIONAL TRANSFORMATION
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