Appraisal of the Effect of Strategic Management on the Performance of Small and Medium Enterprises: a Case Study of Some Selected SMEs in Lagos State

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@article{1703207,
      author = {Dr. Salau Adeyemi Nurudeen},
      title = {Appraisal of the Effect of Strategic Management on the Performance of Small and Medium Enterprises: a Case Study of Some Selected SMEs in Lagos State},
      journal = {Iconic Research And Engineering Journals},
      year = {2022},
      volume = {5},
      number = {8},
      pages = {162-171},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1703207.pdf},
      abstract = {Firms grow from SME to multinational organization within a dynamic and competitive environment hence there is need for a good strategic management in order to survive the turbulent whether or period. The study appraised the effect of strategic management on the performance of SMEs in Nigeria.  A well-structured questionnaire was administered on a targeted sample of 210 owners or managers of SMEs in Lagos state. However, the study adopted purposive and simple random sampling techniques to draw the sample from the population. The descriptive statistics such as frequencies, percentage and graphs are used for the analysis of the research questions while the PPMC, and Linear regression was used to analyse the hypotheses. The study concluded that the all the variables of strategic management (environmental scanning, business strategy and organizational structure) are positively significant to the performance of SMEs. Also, that the not all the SMEs are aware of strategic management. strategic management. Based on the findings of this study, it is therefore recommended that SMEs should continually scan their environment, introduces suitable business strategy and adapt a suitable organizational structure},
      month = {February},
  }