Citation:

Alaribe, D. E., Magaji, N. "Management by Objective and Organisational Performance of Selected Cement Manufacturing Companies in Ogun State, Nigeria" International Research Journal of Economics and Management Studies, Vol. 2, No. 2, pp. 491-497, 2023.

Abstract:

The performance of cement manufacturing firms has received a lot of attention from researchers and policy makers over the years due to the strategic role that cement industry plays in the growth and development of nations. Despite the contribution of cement manufacturing companies, their performance, particularly in Nigeria, is low when compared to that of other countries. This is evident in declining competitive advantage, organizational effectiveness, goal achievement and organizational creativity. As a result, this study looked into how management by objectives affected the organisational performance of a few chosen cement manufacturing firms in Nigeria's Ogn State. The survey research design was used for the investigation. 8,699 top-level, middle-level, and frontline managers from the chosen cement manufacturing enterprises in Ogun State made up the study's population. The Raosoft Size Calculator was used to determine the sample size of 478. Data were gathered using a modified and verified questionnaire. The constructs' Cronbach's Alpha reliability coefficients ranged from 0.753 to 0.905. From the fieldwork, a response rate of 96.2% was observed. Tools for both descriptive and inferential analysis were used on the data. Results showed that management by objectives had a good and significant impact on the organisational performance of particular cement manufacturing enterprises in the Nigerian state of Ogun (Adj.R2 = 0.249; F (4, 455) = 39.092, p < 0.05). The study came to the conclusion that management by objectives helped cement manufacturing enterprises execute organizationally. The study therefore recommended that that management of cement companies should adopt MBO principles by establishing clear goals, promoting employee involvement, fostering open communication, encouraging collaboration, implementing performance evaluations, investing in training and development, and continuously improving the MBO process to enhance overall performance and achieve better outcomes.

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Keywords:

Effective Communication, Employee Participation, Goal Setting, Organisational Effectiveness, Teamwork.