CONCENTRIC DIVERSIFICATION STRATEGY AND COMPETITIVENESS OF HOSPITALITY FIRMS IN RIVERS STATE, NIGERIA

Julius, T. D.

Department of Business Administration, Faculty of Administration and Management, Rivers State University, Nkpolu-Oroworukwo, Port Harcourt, Nigeria

E-Mail: toma.julius@ust.edu.ng

and

Lebura, S.

Department of Business Administration, Faculty of Administration and Management, Rivers State University, Nkpolu-Oroworukwo, Port Harcourt, Nigeria

ABSTRACT

The study examined concentric diversification strategy and competitiveness of hospitality firms in Rivers State Nigeria. Specifically, the study explored how concentric diversification strategies influence competitiveness. The study adopted cross-sectional survey research design. The population of the study consists of hospitality firms in Rivers State Nigeria. Data was collected through structured questionnaire. The validity of the survey instrument was achieved through face and content validity. The Spearman’s Rank Order Correlations was used to test the hypotheses with the aid of statistical package for social science version 26.0. The findings revealed that concentric strategy has a strong positive and significant influence on the measures of competitiveness of hospitality firms in Rivers State Nigeria. The study concludes that concentric strategy has a strong positive and significant influence on competitiveness of hospitality firms in Rivers State Nigeria. The study therefore recommends that hospitality firms have to concentrate on concentric diversification strategy. Hospitality firms in Nigeria are therefore required to spend more time on concentric diversification if they are desirous of achieving market share.

Keywords: Concentric diversification strategy, competitiveness, market share, brand patronage.