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| Effect of Lean Management on Corporate Performance
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EDEME, Nelson Chidi, EMEYAZIA, Gospel Chinweize, OKOTIE Excellent
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Abstract:
The study examined lean management and corporate performance of manufacturing firms in Enugu State. The specific objectives of the study were to; determine the effects of value addition on corporate performance of selected manufacturing firms in Enugu State, ascertain the extent to which continuous improvement impact corporate performance of the selected manufacturing firms in Enugu State. The study adopted survey research design; data was collected by structured questionnaire in five point scale format. Data sources were through primary and secondary sources. The target population of the study was 334 members of the selected manufacturing firms in Enugu State. A sample size of 284 was derived from the application of Cochran's formulae for finite population, while Bowley's Proportional allocation was adopted to determine the allocation of questionnaire to each firm. A pilot study revealed a Cronbach's Alpha Coefficient of 0.891, p<0.5. The four hypotheses were listed by regression at 0.05 level of significance. The findings revealed that to a large extent value addition have a significant effect on corporate performance (r=0.473; p<0.05); continuous improvement have a significant effect on corporate performance(r=0.506; p<0.05); standardization have a significant effect on corporate performance(r=0.487; p<0.05) and workflow have a significant effect on corporate performance (r=0.509; p<0.05). The study concluded that partial value added operations alone is not enough to drive organizational success; to succeed firm most continuously add value to their offerings so as to meet environmental demands. The study recommends that firms should focus on the whole value adding activities and ensure that suitability which is environmental friendly is put in place.
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