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The impact of strategic management on corporate performance of selected small business enterprises in cross river state

Author: 
Ben, Etim Udoh and Agu. O. Agu
Subject Area: 
Physical Sciences and Engineering
Abstract: 

The study investigated the strategic management practices of small business enterprises in Cross River State of Nigeria. The objectives of the study are; to determine the relationship between strategic management practices and performance of SBEs; to determine the relationship between strategic management practices and market share of SBEs; To determine factors affecting strategic management practices of SBEs. Cross sectional survey design was adopted. The population of the study was hundred and two (102) owners/managers of the selected organizations. Systematic sampling technique was employed in selecting the organizations from the list of registered companies in the state. Questionnaire was the main instrument for data collection and was designed in a 5- point Likert scale format supported with personal interview. The data collected were analysed with descriptive statistics, while the corresponding hypotheses were tested with Pearson Product Movement Correlation and Chi –square. . The findings indicate that there is significant positive relationship between strategic management practices and performance of SBES; there is significant relationship between strategic management practices and market share of SBEs. Infrastructural factors, macro environmental factors, and socio-cultural factors were found to be the major issues influencing the strategic management practices of SBEs. However, it was recommended that to accomplish the mission and objectives of SBEs in the light of growth and profitability, management need to have a positive rethink towards the use of strategic management.

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