Examining the Influence of Strategic Management Practices on Small Scale Firms Performances in Niger Delta Region.
- September 26, 2020
- Posted by: RSIS Team
- Categories: IJRISS, Social Science
International Journal of Research and Innovation in Social Science (IJRISS) | Volume IV, Issue IX, September 2020 | ISSN 2454–6186
Nwachukwu, Precious. Ikechukwu1*, Dappa, Jane. A2, Obasi, E. Ifeyinwa3
1Lecturer, Department of Petroleum Marketing and Business Studies, Federal Polytechnic of Oil and Gas Bonny, Rivers State.
2Lecturer, Department of Statistics, Federal Polytechnic of Oil and Gas Bonny, Rivers State.
3Admin officer, School of General Studies, Federal Polytechnic of Oil and Gas Bonny, Rivers State
Abstract: This paper investigated the influence of strategic management practices on small scale firm’s performances in Niger delta region. Using a descriptive design, a well structured questionnaire was adopted to obtain data from 1200 small scale firm manager within the nine states which constituted the region. Statistical package for social sciences (SPSS) version 23.0 was utilized for data analysis. Findings from the study disclosed that strategic management practices have a significant effect on small scale firms’ performances in the Niger delta region. Furthermore, the findings revealed that the effectiveness, survival, competitiveness, innovativeness, profitability etc of small scale firms, depends on how strategically a firm plan is drafted and implemented. The study concludes that strategic management is vital in ensuring the survival and sustainability of small scale firms in the Niger delta region given the significant relationship it has on performance. Base on that, it was recommended among others that Small scale firms owners should study their firms and plan strategically for potential areas of competitive advantage to the firm.
Keywords: strategic management, strategic planning, strategic customer relation, performance
I. INTRODUCTION
Generally there has been a rapid change in the business environment due to the rate of globalization, changes in customers and suppliers demand pattern and high level of competition in the market. Organizations in this 21st century recently have continually seek for ways to match-up with this challenges by constantly seeking for measures to increase their performances via cost reduction, product innovation, process innovation and the practice of quality management . Strategic management is an enduring process that entails the evaluation and controls of an enterprise and the industries in which the firm is involved, an assessment of its competitors and goals and strategies to meet all existing and potential competitors, and a total re-evaluation of each of the strategy on interval bases to see how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changes in the environment such as new technology, new competitors, a new economic environment, or a new social, financial or political environment” (Lamb, 1984).
