SURVIVAL STRATEGY OF CONSTRUCTION FIRM IN NIGERIA DURING RECESSION PERIOD: A CASE STUDY OF BUILDING CONSTRUCTION FIRM IN NASARAWA STATE

Abstract

This study assessed the survival strategy adopted by construction firm in Nasarawa state, Nigeria during
recession period. Structured questionnaire was distributed to Managing Directors, Chief Executive officers and
Senior Managers of small scale industries within Nasarawa State, Nigeria. The questionnaire was drawn on a
5-point Likert scale on survival strategies variable. The result obtained indicated that developing stable and
new relationship with client, implementing strict financial management, undertaking small contract, quality
improvement, and layoff of some construction employee were ranked 1st, 2nd, 3rd , 4th and 5th respectively. It is
recommended that the small scale construction firm surveyed in Nasarawa state should form a corporation or
join venture, this may help in pulling their resources together during recession period.