Competitive Strategies and Venture Success of Agro-Based Ventures in Rivers State

Abstract

This study examined the relationship between competitive strategies and venture success of agro-based ventures in Rivers State. This study adopted a cross sectional survey research design. The population consisted of 555 operators where 3 operators with a minimum of 5 years’ experience represented each firm multiply by 185 Agro-based ventures in Rivers state as retrieved from Rivers state yellow page directory. The sample size consisted of 233 operators using taro yamen sampling formula. A structured questionnaire instrument was developed for the study. The Cronbach's Alpha indicates a .751 value which implies that the items are reliable. Hypotheses was tested using Spearman Rank Order Correlation Coefficient at 0.01 significance level. The partial correlation was used to analyze the controlling variable which is organizational culture. The study revealed that Cost leadership strategy have strong significant relationship with measures of venture success of agro-based ventures in Rivers State, differentiation strategy has moderate significant relationship with measures of venture success of agro-based ventures in Rivers State, focus strategy has moderate significant relationship with measures of venture success of agro-based ventures in Rivers State. In conclusion, this study on competitive strategies, in relation to the venture success of agro-based ventures in Rivers State has provided valuable insights into the factors influencing the performance of these ventures. The findings indicate that those competitive strategies have significant relationship with the success of agro-based ventures. The study recommended among others that Agro-based ventures should consider diversifying their product offerings to cater to a wider range of customer preferences and increase their market share.