IMPACT OF STRATEGIC MANAGEMENT ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMEs) IN NIGERIA: A STUDY OF SELECTED SMEs IN DELTA STATE

M. N. Okeke, A. N. Onuorah, U. G. Jakpa

Abstract


The study seeks to assess the impact of Strategic Management variables on the performance of Small and Medium Scale Enterprises (SMEs) in order to enhance their sustainability in Nigeria. A total of 200 copies of the questionnaire were distributed to respondents and a total of 167 owners/managers completed the questionnaire. The survey method was used for the study and questionnaire was used as the measuring instrument. The Pearson’s Product Moment Correlation was used for data analysis. The results showed that among the four independent variables, external environment was most important and influential variable. The present study revealed that management can make use of different strategies and policies to improve SMEs work settings and performance, but different strategies and policies would have different performance impact on diverse SMES. It was recommended among others that entrepreneurs/managers of SMEs must adapt their structures rapidly to evolving strategies and changing environments for better SMEs performance. 

Keywords


Strategic Management, Small and Medium Enterprises, Performance.

Full Text:

PDF

References


Adeniran, A. A. & Alenoghena, C. O. (2006). Technology transfer and small medium scale enterprises in developing Countries, International Conference on Infrastructure Development and Environment (ICIDEN), Sept 10 - 15, Abuja, Nigeria.

Anderson, M. & Sohal, A. S.(1999). A study of the relationship between quality management practices and business performance in small businesses. International Journal of Quality and Reliability Management,16, (9), 859-877.

Ansoff, Igor Corporate Strategy McGraw Hill, New York, 1965.

Aremu, M. A. & Adeyemi, S. L. (2011).Small and medium scale enterprises as a survival strategy For employment generation in Nigeria.International Journal of Sustainable Development,4, (1), 200 -206.Published bycanadian center of science and education, canada.Retrive from http://www.jsd@ccsenet.org

Aremu, M. A. & Oyinloye, O. O. (2014). Relationship Between Strategic Management and Firms' Performance .In Nigerian Banking Industry, Arabian Journal of Business and Management Review (Kuwait), Chapter4 (3), 28 - 41. Published by American University of Kuwait.Available on line athttp://library.usask.ca/find/ejournals/ 599 http://www.arabianjbmr.com/VOL_4_%283%29_KD.php

Asian social science. 7(3): 210-219. Published by Canadian Centre of Science and Education. Available online at www.ccsenet.org/ass.

Aun, I. I. & Aremu, M. A. (2012). Impact of training and development on productivity of Nigerian workers. Entrepreneurial Journal of ManagementSciences,1, (1) 43 - 58. Published by of College of Management Sciences, Al-Hikmah University, Ilorin, Nigeria.

Chaffee, E. “Three models of strategy”, Academy of Management Review, vol 10, no. 1, 1985.

Chandler, Alfred Strategy and Structure: Chapters in the history of industrial enterprise, Doubleday, New York, 1962.

Chiew, M. C. (1998). Strategic management for small and medium enterprises, Ph.D. Thesis, St. Clements University.

Dauda, Y. A. &Akingbade, W.A. (2010).Strategic management practice and corporate performance of selected small business enterprises in Lagos metropolis.International Journal of Business and Management, 5,(11), 97 - 105.

Dave Packard and Bill Hewlett (1994). Toward a theory of international new ventures.Journal of International Business Studies.25, 45-64.

Drucker, Peter (1954). The Practice of Management. Harper & Row. ISBN 0-06-091316-9.

Drucker, Peter F. (1994). "The Theory of the Business". Harvard Business Review (September–October 1994).

Etuk, R. U., Etuk, G. R. & Baghebo, M. (2014).Small and medium scale enterprises and Nigerian economic development.Mediterranean Journal of Social Sciences, MCSER Publishing, Rome-Italy, 5(7), 656 - 662.

Hormozi, A. M., Sutton, G. S., McMinn, R. D., & Lucio, W. (2002). Business Plans For new or small businesses: Paving the Path to Success. Management Decision, 40 (8), 755-763.

International Journal of Administration and Development Studies,1, (1), 172-186. Publishedby the Department of Public Administration, University of Maiduguri, Nigeria.

Johanson, J. & Mattsson, L. G. (1988). Internationalization in industrial systems: A network approach, London: Croom Helm, 194-213.

Kadiri, I. B. (2014).Role of information technology in the management of Small and medium scale enterprises in Warri metropolis.Delsu Journal of Management Sciences, 1(2), 72-78. Published by Faculty of Management Sciences, DELSU, Nigeria.

Kvint, Vladimir (2009). The Global Emerging Market: Strategic Management and Economics. Routeledge.

Lawal, A. A. & Bello, M.A. (2011).''Strategic important of Nigerian small and medium enterprises'' Journal of International Entrepreneurship.2, 33-45.

Lurie, S. M. (1987). Strategic business planning for the small- to medium-sized company.The CPA Journal, 57, (6), 90-92.

Masum, M. I. & Fernandez, A. (2008). "Internationalization process of SMEs: strategies and methods," Master thesis in international business and entrepreneurship, School of sustainable development of society and technology, Mälardalen University, Sweden.

Mintzberg, Henry (1987). "Why Organizations Need Strategy". California Management Review (Fall 1987).

Mintzberg, Henry and, Quinn, James Brian (1996). The Strategy Process:Concepts, Contexts, Cases. Prentice Hall. ISBN 978-0-13-234030-4.

National Bureau of Statistics and Small and Medium Scale Enterprises Development Agency of Nigeria SMEDAN Report ( 2012).

Porter, Michael E. (1996). "What is Strategy?". Harvard Business Review (November–December 1996).

Rahman, S. (2001). Total quality management practices and business outcome: Evidence from small and medium enterprises in Western Australia. Total Quality Management,12, (2), 201-210.

Rao, S. S. & Ragu-Nathan, T. S. (1997). Does 1809000 have an effect on quality management practices? An international empirical study, TotalQuality Management, 8, (6), 333.

Sakaran, U. ( 2001) Research methods for business: A skill building approach (2nd ed.I. New York; John Wiley & Sons, Inc.)

Umukoro, G. (2005). Strategic management for development programmeLagos: Alaba Press Ltd.

Wikiquote-Henry Ford.

Willems, J., Willaert, P., & Deschoolmeester, D. (2007), "Setting up a business process-support organisation: the role of a business process office", Information Resources Management Association, International Conference.

Yomere, G.O. and Osaze, B. E.(1996) Introduction to business policy and strategy: Xcel Int' ltd. Effurun-Warri. ISBN 978-30147-4-9.


Refbacks

  • There are currently no refbacks.


 

 

 

 

   

 

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.