Analysis of the Impact of Strategic Management on the Business Performance of Small and Medium Enterprises in South Nigeria

Abstract

This study was carried out to investigate the
analysis of the impact of strategic management
on the business performance of selected small
and medium enterprises in south-south Nigeria..
The study is anchored on resource based and the
contingency – based theories. The population of
the study comprised of 1200 owners of small and
medium enterprises while the sample size is
made of 300 owners and operators of small and
medium enterprises of the selected small and
medium enterprises operating in south-south
Nigeria through the aid of Taro Yamane’s
formula multiple regression analysis was used
to analyze the data generated. It was discovered
that, strategic management has a significant
positive impact on the level of competition,
enterprises effectiveness, financial performance
and market share of small and medium scale
enterprises in south-south Nigeria. The study
therefore concluded that strategic management
has significant impact on Business performance
in south-south Nigeria. Based on the findings
and conclusion of the study, it was
recommended that for small and medium scale
business to succeed, it has to have a real and
noble plan which will enhance the growth of
their businesses, ensuring that small and
medium scale businesses have vision of what
they hope to achieve, proper implementation of
business strategy, and small and medium
enterprises in Nigeria acquiring more
knowledge on the application of strategic
management