Implementation of Corporate Visioning in the Nigerian Textile Industry: A Critical Assessment

Abstract

Amidst corporate visioning, the Nigerian textile industry currently houses distressed and non-distressed operating firms. Adopting the
survey method, the study sought to critically evaluate the implementation of the corporate visioning in the industry among the two categories of operating firms. The target population of 7,787 personnel consisted of 3,022 from the distressed and 4,765 from the
non-distressed firms. Three hundred and sixty-six randomly selected personnel of managerial cadre, senior staff and junior staff
participated in the study. Three instruments (Implementation of Corporate Visioning Scale, Corporate Visioning Inventory and
Employee Motivation Scale) were used for data collection. Frequency, percentage, means, standard deviation, Person’s Product Moment Correlation, and Regression Analysis were used for data analysis. Results showed that there was no significant difference in the level of implementation of corporate visioning between distressed and non-distressed firms. The result further revealed that there was a significant relationship between corporate visioning and employee motivation. The study then concluded that the awareness of the significance of corporate visioning was very high in the industry, but the level of its implementation was very low in both distressed and non-distressed firms. More so, as employee motivation was higher in a firm with strong corporate visioning. It was recommended, among others, that the Management of the textile firms should make arrangements with the academic institutions to fully design courses to suit the industry’s needs. Also, the Management should organize industry interactions by way of seminars and conferences on corporate vision, as this will help the management, staff and stakeholders of the industry to fully utilize the concept, its implementation and benefits.