Strategic Alliances and Organizational Performance of Selected Manufacturing Firms in Ogun State, Nigeria

Linus I. Okafor; Bashiru A. Bello; Temitayo A. Onifade; Margaret E. Ogunbiyi; Adedayo M. Opele; Olaronke O. Elufisan; Bolaji S. Hamzat; Alabi E. Olusanmi; Ikenna T. Nnoli; Oloyede Abiodun

doi:10.32479/irmm.22949

Authors

Linus I. Okafor Department of Business Administration, Bells University of Technology, Ota, Nigeria,
Bashiru A. Bello Department of Business Administration, Bells University of Technology, Ota, Nigeria,
Temitayo A. Onifade Department of Business Administration, Bells University of Technology, Ota, Nigeria,
Margaret E. Ogunbiyi Department of Management Technology, Bells University of Technology, Ota, Nigeria,
Adedayo M. Opele Department of Marketing, Lagos State University, Ojo, Nigeria,
Olaronke O. Elufisan Department of Economics, Accounting and Finance, Bells University of Technology, Ota, Nigeria.
Bolaji S. Hamzat Department of Business Administration, Bells University of Technology, Ota, Nigeria,
Alabi E. Olusanmi Department of Business Administration, Bells University of Technology, Ota, Nigeria,
Ikenna T. Nnoli Department of Economics, Accounting and Finance, Bells University of Technology, Ota, Nigeria.
Oloyede Abiodun Department of Business Administration, Bells University of Technology, Ota, Nigeria,

DOI:

https://doi.org/10.32479/irmm.22949

Keywords:

Strategic Alliance, Technology Alliance, Marketing Alliance, Performance

Abstract

The study examined the impact of Strategic Alliances on the Performance of Manufacturing Firms in Ogun State, Nigeria. Data from a questionnaire survey conducted among three hundred and seventy-five (375) employees of seven manufacturing firms were analysed using statistical methods. The Pearson correlation coefficient revealed a significant relationship between technological strategic alliance and firm performance (0.745 and p<0.01), as well as between marketing strategic alliance and firm performance (0.878 and p<0.01). Multiple regression analysis further confirmed that both technology (β = 0.239) and marketing (β = 0.752) strategic alliances had a positive and significant impact on firm performance. Based on these findings, the study recommends that policymakers should promote and support manufacturing firms in forming strategic alliances, particularly in technology and marketing sectors, to enhance their performance.