Crisis Management Strategy and its Effects on Organizational Performance of Multinational Corporations in Nigeria: Empirical Evidence from Promassidor Ltd.

Abstract

At one time or the other, organizations would witness crisis whether internal or external in which its impact could induce severe consequences or even disasters if wrong strategic moves are devised. The issue of how organizations can maintain good performance when faced with critical situations has largely remained unexplored. This study therefore examines the effect of crisis management strategy on organizational performance of multinational corporations in Nigeria, empirical insight from Promassidor ltd. Crisis management forms the bedrock for peaceful co-existence between employers and employees and even the society at large. Crisis is inevitable in any organization because it comes in varied forms and degrees. In carrying out this study a total of 321 staffs were randomly selected from a staff population of 700. Two hypotheses were formulated to guide the study and the data collected were analyzed using partial correlation. The results revealed that management challenges to crisis management strategy is attributed to poor organizational performance and that crisis management strategy does not have any effect on organizational performance. Based on the findings of the study, recommendations were made that multinational corporations in Nigeria should make funds available for human resource development on a continuous basis, and that management of organizations should be pro-active when it comes to issues of human resource management. Therefore, the extent to which an organization is able to forge ahead in spite of this unavoidable constraint will depend much on the human resource managers on whom rests the arduous task of resolving crisis. Keywords: Cris management strategy, effect, organizations performance and MNCs.

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