Strategy is considered to be a detailed plan for a business in achieving success. Managers employ strategy to achieve result. Strategic management practices and organization performance in small business enterprises {SBEs} goes together, but most Small business enterprises place less emphasis on making effective strategy for improved performance. This paper examines the influence of strategic management on corporate performance in selected small scale enterprises in Lagos, Nigeria. The paper also provides how strategy could be used for improved performance of small scale enterprise in Nigeria. Two hypotheses were tested. They are to determine whether: {i} there is a significant relationship between strategic management and organizational profitability; {ii} there is a significant relationship between strategic management and company market share. Cross sectional survey research method was adopted for the study and 140 participants were randomly selected among SSEs in Lagos metropolis. Pearson product moment coefficient of correlation and descriptive statistics were used for data analysis. Findings revealed that strategic management practices enhance both organizational profitability and company market share. The study recommends that investors and managers should make use of strategic management to improve their organizations actual performance at all times.
Organization success is determined by the demand for its product or services. Many organization put in place methods and strategies that could enabled them attract customers and improved the quality and quantity of their product. One of the major methods in this direction is market orientation. Employees are influenced to consider organization interest and be involved or oriented to monitor their customers' loyalty and attitude towards their product to enable them to be competitive, productive and profitable. But despite its advantage, most small business enterprises (SBEs) in Lagos, the economic capital of Nigeria don't engage in market orientation. This paper examines different methods of market orientation and how it could be employed for improved SBEs performance in Lagos State. Two null hypotheses were formulated to test the relationship between customer orientation and sales growth and market orientation and SBE's profitability. Questions were formulated based on the hypotheses and questionnaires were distributed to top managers and investors of SBEs, out of which 95% of the respondents returned duly completed and properly filled questionnaires. The research findings show that many SBEs that engage in market orientation recorded substantial progress. But most other have not really applied this method, hence their low performance and profitability. The study recommends that market orientation should be used by SBEs for improved performance. Also, SBEs managers and owners should engage in market orientation to enable their enterprises more profitable and survive in changing, dynamic and turbulent business environment.
The state of technology in any organization has a significant influence on the quality and quantity of production of its goods or services. But despite this, technology is prone to constant change which organizations have to monitor, manage and cope with. Manufacturing industry that will like to be competitive and profitable should ensure that employees are trained and involved in the management of technological change for organizational survival. But most organization tends to undermine the contribution of employee in managing technological change, the outcome of which are low profitability and performance. This paper examines how employee relation could be employed for technological change management. It also seeks to determine effective method of using technological innovation for improved performance in the Nigerian manufacturing industry. Two hypotheses were formulated to determine the relationship between technological change and employee skill; and between technological change and employee performance. Question based on the hypotheses were formulated and 1256 questionnaires were distributed to selected 30 manufacturing industry in beverages, textile, steel, cement and chemical industry in Nigeria. Findings reveal that employee relations do not have significant relationship with technological change. The paper recommends that employee relation should be considered in the management technological change for profitability, competitiveness and survival of the Nigerian Manufacturing industry.
This paper focuses on marketing practice of SMEs in Nigeria. The specific key learning objectives of the paper are; to highlight the strategic importance of SMEs in economic development of any economy; to sketch the patterns of Government support programmes for development of SMEs in Nigeria and Past Empirical Studies of SMEs performance in Nigeria; to highlight the importance SMEs for survival and continued growth of Nigeria Economy; to highlight the impact of environmental factors on marketing practice of SMEs; to establish the extent to which marketing practice of SMEs in Nigeria conforms with marketing principles and functions. The Nigeria marketing environment presents features that are quite different from the developed economies and even quite different from other developing countries. There are for examples infrastructural problems that are unthinkable in the context of developed economy. Equally government support programmes for SMEs are poorly managed such that intended results are not obtained. There are attitudinal problem on the part of the SMEs operators and officials of government supervisory agencies. All these have direct and indirect impacts on marketing practice of the SMEs in Nigeria. The paper falls back on empirical studies of the lead author, his post graduate and undergraduate marketing students, on SMEs, to illustrate the marketing practice of SMEs in Nigeria, a developing economy. Conclusions are drawn based on marketing practice of SMEs in Nigeria. The authors call on scholars and writers on marketing functions of SMEs, especially in Nigeria to shift to providing empirical works in their writings on marketing functions rather than the present theoretical considerations. This is because research based findings could be used to improve the marketing practice of SMEs.In summary, the primary purpose of this paper is to present research based findings of the marketing practice of SMEs in Nigeria. The usual focus of authors on marketing practice is the big firms that have made it in the market place. The marketing practice of SMEs is usually assumed. However, the SMEs dominate the landscape of all economies, from developed, developing to underdeveloped. Since marketing is concerned with the creation of customer, and this should be the valid basis for the existence of any business organization. It is important that the marketing practice of the organization that dominates in all economies should be investigated, and understood so as to be able to improve on the practice.This paper is divided into four segments, the literature reviews, summary of the findings on empirical investigation of marketing practice of SMEs by the lead author, then findings of undergraduate and post graduate students supervised by the lead author, this is another way of looking at the marketing practice employed by the studied SMEs. Then follows discussion of the findings in the light of the environment and conclusion.
Nigerian banks have benefited from global technology innovation. Introduction of Information and Communication Technologies (ICT) have affected employee performance and customers responses This paper examine customer's and employee's responses to technology innovation, and their effects on the performance of the Nigerian banks. Fifteen (15) major banks were selected for the research. Two null hypotheses based on two different sets of questionnaires distributed to selected banks employees and customers were formulated to test whether there is no significant relationship between technology innovation and customer's satisfaction; and between technological innovation and Nigerian banks employee's performance. 1912 questionnaires were distributed to customers to test the first hypothesis out of which 1634 were collected which is 85% of the distributed questionnaires, 1458 questionnaires were distributed to selected banks employees to test the second hypothesis, 1223 questionnaires were collected making 84% response rate. Pearson correlation coefficient was used to analyse the hypotheses. Findings revealed that technological innovation influenced banks employee's performance, customer's satisfaction and improvement in banks profitability. The study recommends effective management of technological innovation for improved employees performance, customer's satisfaction, sustainable profit, increased return on investment, returns on equity, and to promote competitiveness in the Nigerian banking industry.
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