Babcock University Research Portal

STRATEGIC PLANNING: EFFECT ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN LAGOS, NIGERIA

Authors: AKINLABI Babatunde

Publication Type: Journal article

Journal: International Jour. Of Manage.studies.,statistics & App.economics

ISSN Number:

Downloads

Views

Abstract

The study examined the relationship between the use of strategic planning and performance in SME
sector. In spite of the seemingly increased interest in the running of small and medium enterprises in
Nigeria, along with a greater institutional support to sustain the sector, performance appears to be
below expectations. It has been indicated that such poor performance of SMEs is possibly due to
varied attitudes toward strategic planning. A descriptive and regression analysis with the aid of SPSS
was used for analysis purposes. The study revealed that there is a significant relationship between the
use of strategic planning and SME performance (r=0.604, F 1,480 = 275.484, p<0> variance in SME performance explained by strategic planning is about 36.5%. It was revealed that
SMEs in Lagos State practiced and used formal strategic plans in their operations. The
implementation of working strategic plan as indicated by the respondents has contributed to the
significant growth in sales of the organization relative to the market leader in the industry (77.2%
strongly agreed) and higher net profit position (79.5% strongly agreed). It was recommended that the
Small and Medium Enterprises in Lagos State, Nigeria should embrace the use of strategic planning as
a tool and a concept to be used in achieving organizational performance. The SME owner/manager
needs to have a full understanding of the industry in which it operates so as to cut an edge for the
organization.

Access to Documents

External Link
Download
Digital Object Identifier

Keywords

AKINLABI,B. . (2015). STRATEGIC PLANNING: EFFECT ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN LAGOS, NIGERIA, 5 (), 77-77.

AKINLABI,B. . "STRATEGIC PLANNING: EFFECT ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN LAGOS, NIGERIA" 5, no (), (2015): 77-77.

AKINLABI,B. and . (2015). STRATEGIC PLANNING: EFFECT ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN LAGOS, NIGERIA, 5 (), pp77-77.

AKINLABIB, . STRATEGIC PLANNING: EFFECT ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN LAGOS, NIGERIA. 2015, 5 ():77-77.

AKINLABI,Babatunde , . "STRATEGIC PLANNING: EFFECT ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN LAGOS, NIGERIA", 5 . (2015) : 77-77.

A.Babatunde , "STRATEGIC PLANNING: EFFECT ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN LAGOS, NIGERIA" vol.5, no., pp. 77-77, 2015.

Access to Documents

Keywords

About Us

Admissions

Contact Us

Policies

ALUMNI

STUDENT POPULATION