Downsizing as a Strategic Tool for Corporate Performance and Economic Growth of Nigeria: An Exploratory
Analysis

EZEANYEJI CLEMENT I.; Ugochukwu F. Ejefobihi

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IJCRR - 7(11), June, 2015

Pages: 33-38

Downsizing as a Strategic Tool for Corporate Performance and Economic Growth of Nigeria: An Exploratory
Analysis

Author: EZEANYEJI CLEMENT I., Ugochukwu F. Ejefobihi

Category: Healthcare

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Abstract:

Corporate downsizing has been the biggest fallout of the troubled times the world is witnessing. Companies have to make meaningful contributions to make inroads into a wide range of business endeavours in the new global competitive world. This is being done through the instrumentality of downsizing which is a proactive strategy defined as a process which results in layoffs and the streaming of functions as well as the redesigning of systems. It refers to a process where a company or a firm simply reduces its workforce in order to cut the operating costs and improve efficiency and thus economic growth. Downsizing has
become a legitimate option for business growth strategies especially after the 1980s. In Nigeria, downsizing is, in fact, the most preferred option of companies to sustain operating costs and comply with the existing scope of the business. Downsizing, if properly conceived and implemented, has a tremendous potential for organizational survival and futurity and boast for economic growth especially for a developing economy like Nigeria. The study adopts a simple literature survey method and concludes that downsizing strategies are highly necessary for organizational competitiveness and efficiency in the new world order. It further
stresses inter alia that downsizing be tailored as both a defensive and offensive strategy in the best interest for any organization in the troubled times that the Nigerian economy is witnessing in the recent past.

Keywords: Downsizing, Corporate performance, Strategy, Organization and economic growth

Citation:

EZEANYEJI CLEMENT I., Ugochukwu F. Ejefobihi. Downsizing as a Strategic Tool for Corporate Performance and Economic Growth of Nigeria: An Exploratory
Analysis International Journal of Current Research and Review. 7(11), June, 33-38

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List of Awardees

A Study by Ese Anibor et al. "Evaluation of Temporomandibular Joint Disorders Among Delta State University Students in Abraka, Nigeria" from Vol 13 issue 16 received Emerging Researcher Award

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Downsizing as a Strategic Tool for Corporate Performance and Economic Growth of Nigeria: An Exploratory
Analysis