Strategic Management: A Policy To Enhance Sustainable Business Development In Small And Medium Scale Enterprises In Nigeria
DOI:
https://doi.org/10.14738/abr.59.3638Abstract
The paper examined the impact of Strategic Management on the performance of Small and Medium Scale Enterprises (SMEs) via competitive advantage, sales and profit. This was with the view of assessing the impact of Strategic Management on sustainable growth in Nigerian SMEs. A descriptive survey research design was employed for the paper using structured questionnaire and oral interview for data collection. The questionnaire was administered on thirty SMEs owners in four states of Southwest Nigeria comprising Lagos, Ogun, Osun and Oyo State. Thus, a total of 120 respondents were purposively sampled for the study. Data collected were analyzed using frequency tables, simple percentages and chi-square test. The results showed that Strategic Management practices significantly assist SMEs to gain competitive advantage ( The results further showed that Strategic Management significantly increased their sales ( and improved their profits levels. The paper concluded that, Strategic Management has contributed immensely to the sustainable growth of Small and Medium scale Enterprises in South-West Nigeria and recommended that Strategic Management practice should be adopted by all small and medium business firms in Nigeria.
References
Porter, M. E., What is a strategy? Harvard Business Review (November-December):1996. 61-78.
Lamb, R. B., Competitive strategic management, Englewood Cliffs, NJ: Prentice-Hall, 1984
Kay, J., Strategy and Control’ in Financial Times Handbook of Management 2 ndedn, 2000
Gary H.,Leading the Revolution (Harvard Business School Press, 2000) ISBN 978-0-452-28324-4
Senge, G.I., Business Policy: Strategic Management. New Delhi: Sultan Chand and Sons. 1991.
Achumba, I. C.,Strategic Marketing Management in the 21st century, McWilliams and capital publisher Inc. U.S.A. Ogundele, J.K.,Management and Organization, Theory and Behaviour. Mologin Nominee Publications 2005.
Prasad, L.M.,Business Policy: Strategic Management. New Delhi, Sultan Chand and sons.2002.
Pearse A. and Robinson, R. B.,Strategic Management, Delhi: ALTRI. 1999.
Steiner C.A., Miner J. B. and Gray,Management Policy and Strategy: Text and cases, New York: Macmillan. 1982
Glueck, W. Business policy, strategy formation, and management action, 2ed. New York: McGraw-Hill, 1976.
Robert, A.P.,Strategic Management: Building and Sustaining Competitive Advantage Australia: South Western Village Publishing. 2000.
Minzberg, H., Strategic Doctrine under Five. Financial times, 15 October, Prentice Hall. 1982.
Hendy, C.,Human Resources Management: A Strategic Approach to Employment, Henemen, Butterworth Henemen. 1995.
Henemen, R. L. Tensky S. W. Camp S.M., Human resources management practices in small and medium – sized enterprises. Entrepreneurship theory and practice. 2000.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2017 Archives of Business Research
This work is licensed under a Creative Commons Attribution 4.0 International License.
