Strategic Management and Competitive Advantage in the Hospitality Industry in Ogun State, Nigeria

The study examined the relationship between strategy formulation, strategy implementation, and strategy evaluation on competitive advantage. The study also examined their joint impact on competitive advantage in hospitality industries in Ogun State, Nigeria. The research adopted the survey research design. Data were sourced primarily from one hundred and sixty-one (161) copies of the questionnaire adequately filled and retrieved from the managers or owners of hotels in Ogun State. The study's hypotheses were tested using the Pearson Correlation Coefficient and Multiple Regression analysis. The results of the Pearson Correlation Coefficient for Hypotheses 1, 2, and 3, with correlation coefficients of 0.878 (p<0.01), 0.907 (p<0.01), and 0.85 (p<0.01) respectively, indicate that the null hypotheses (Null Hypotheses 1, 2, and 3) were rejected. The alternative hypotheses were accepted, demonstrating a significant positive relationship between strategy formulation, strategy implementation, strategy evaluation, and competitive advantage in the hospitality industry in Ogun State, Nigeria. The final hypothesis was tested using multiple regression analysis. The result showed that strategy formulation, strategy implementation, and strategy evaluation with coefficients of 0.539, 0.843, and 0.497 had a positive and significant joint impact on competitive advantage. The study recommends that hospitality organisations should ensure that strategy formulation objectives, aligned with the organisation's overall goals, are encouraged and adopted to achieve competitive advantage.