Strategic Management Practices and Challenges. The Case of Small and Medium Scale Enterprises in Harare

Strategic Management Practices and Challenges. The Case of Small and Medium Scale Enterprises in Harare
Author: Alick Mhizha
Publisher: GRIN Verlag
Total Pages: 232
Release: 2015-04-24
Genre: Business & Economics
ISBN: 3656949808

Doctoral Thesis / Dissertation from the year 2014 in the subject Business economics - Operations Research, , course: PhD Commerce, language: English, abstract: This research was carried out with the objective of establishing the challenges faced by small and medium scale entrepreneurs in their efforts to adopt strategic management in their value chains. A review of relevant literature revealed that strategic management is a very important approach that all businesses need, no matter their size, in order to enhance effectiveness. It is known to support professionalism, profitability and sustainable value addition when applied according to best practice. Quantitative and qualitative approaches to data gathering were applied to enable the researcher to establish a richer picture of the exact situation on the ground. Quantitative data were collected from a sample of 292 respondents while qualitative data were obtained from a sample of 127 key informants and stakeholders. Drawing inspiration from the survival strategies of the chameleon, the researcher postulated the Chameleon Survival Strategy Model for small and medium-scale enterprises. The model was then used as a benchmark in the analysis of quantitative data, which were treated using the statistical package for the social sciences (SPSS) and qualitative data, which were content analysed. The chameleon survival strategy was used as the standard to assess the extent to which small and medium scale enterprises were compliant with the fundamentals of strategic management as exhibited by the chameleon in its environment. The key findings were that SMEs failed the Chameleon Survival Strategy Model test, based on the overall value of the model’s index obtained after data analysis. It was observed that SMEs did not practice strategic management and were therefore not consistent with the chameleon survival strategies, outlined in the model’s seven attributes. The conclusions drawn, recommendations and implications of the study on Government policy, the work of stakeholders and entrepreneurs, are presented in this document. The conclusions point to the need for Government and stakeholders to revisit their interventions and support programmes targeting entrepreneurs, to include strategic management capacity development. The lack of knowledge and exposure was found to be the key reason for entrepreneurs’ failure to embrace strategic management in their operations. It is also recommended that Government and stakeholders carry out constant needs assessment to establish the exact needs of entrepreneurs, which tend to be quite dynamic.

Small and Medium-Sized Enterprises (SMEs) and Poverty Reduction in Africa

Small and Medium-Sized Enterprises (SMEs) and Poverty Reduction in Africa
Author: Ameen Alharbi
Publisher: Cambridge Scholars Publishing
Total Pages: 185
Release: 2015-06-18
Genre: Business & Economics
ISBN: 1443879193

Small and Medium-Sized Enterprises (SMEs) and Poverty Reduction in Africa addresses the vital question of why the millions of dollars of governments’ and international development interventions in the SMEs sector are yet to deliver significant and sustainable employment and poverty reduction in Africa. The book also addresses the question of how the SMEs sector can help in the eradication of poverty in Africa. The book also tackles the question of what policy makers, SMEs operators, would-be entrepreneurs and trainers can do to contribute to poverty reduction through the SMEs sector. To address these three key questions, the book has adopted innovative concepts and ideas that will appeal to the sensibilities of African policy makers, trainers, business operators and would-be entrepreneurs. For example, the existing literature on system thinking and spirituality in business is used to offer a novel approach and departure from the perennial focus on “technical training” and hardnosed pursuit of “individualised” business and personal goals as a means of developing entrepreneurs and crafting SMEs policy. The key features of the book are: • a focus on changing the mind-set of SMEs operators, policy makers, trainers and would-be entrepreneurs; • contextualising the role of SMEs in poverty reduction by emphasizing the relevance of the African worldview, belief systems and spirituality during policy making, policy implementation and training of SMEs operators and would-be entrepreneurs; • theoretical explanations to why good intentions in policy formulation and implementation do not deliver expected outcomes in terms of the SMEs sector’s contribution to poverty reduction; • practical guidelines on how SMEs can develop a poverty-related mission statement, business strategy and business plan within the context of poverty reduction; • personal development guidelines for SMEs operators and prospective entrepreneurs on how to develop poverty-related personal mission statements and strategies; • the introduction of spiritual poverty and system thinking as the foundation for policy formulation and poverty reduction interventions in Africa.

Handbook of Research on Strategic Management in Small and Medium Enterprises

Handbook of Research on Strategic Management in Small and Medium Enterprises
Author: Todorov, Kiril
Publisher: IGI Global
Total Pages: 538
Release: 2014-04-30
Genre: Business & Economics
ISBN: 1466659637

As the global economy continues to develop and new entrepreneurs take advantage of emerging markets, the small business sector plays a greater role of economic development in the international arena. The Handbook of Research on Strategic Management in Small and Medium Enterprises contributes new research to the current array of literature on small business management under diverse geographic, economic, and socio-cultural conditions. By exploring existing theories in tandem with fresh viewpoints, this book will serve as a valuable reference to students, lecturers, researchers, entrepreneurs, and policy makers investigating the use of strategic management in various scenarios and situations.

Effect of Strategic Management on the Performance of Small and Medium Scale Enterprises (SMEs) in South-east Region of Nigeria

Effect of Strategic Management on the Performance of Small and Medium Scale Enterprises (SMEs) in South-east Region of Nigeria
Author: Udeme Usanga
Publisher: GRIN Verlag
Total Pages: 59
Release: 2023-09-04
Genre: Business & Economics
ISBN: 334693313X

Academic Paper from the year 2021 in the subject Business economics - Business Management, Corporate Governance, , course: Management Sciences, language: English, abstract: This study examined the impact of strategic management on SMEs performance in South-east Nigeria. A survey of 398 respondents were randomly selected from Small and Medium Enterprises (SMEs) that registered with the Ministry of Commerce and Industry in Abia, Anambra, Ebonyi, Enugu and Imo States were used for the study. Well-structured questionnaire was use for collection of data from respondents. Hypotheses were formulated and data analysis was performed with the using Frequencies, Percentages, and Regression Analysis. Result reveals that majority of respondents are male (57%), married (69%), with Secondary education (45%), with household size of 6-10 Persons (45%), with SME experience between 6 – 10 years (35.68%). Majority of enterprises in the study area were small –sized businesses (51.5%), providing services (65%), with fixed assets in buildings/factories including machinery/equipment worth N2 – 5 million (26%), current asset base of cash/draft at Banks and inventory/raw materials worth N2 – 5 million (31%), with human capital asset (number of employees) of 1 – 5 workers (51.5%) and number of branches (88%). About 96.5% did not apply any of the management strategy practices in their operations. Details of the results on the effects of strategic management practices on SMEs’ Performance further showed an average mean of 4.19. The R2 of 74% of the variation in the dependent variable “employee training and job satisfaction is caused by the explanatory variable “Planning and Organizational Structure, with a probability value (t-cal = 34.014); environmental analysis strategy and resource allocation on market share (92%) with t-cal (66.76), implementation strategy and Customer Satisfaction (99%) t-cal = (165.015). The R2 of .860, about 84% of the variation in the dependent variable, Sales Revenue/Profitability by evaluation strategy with regression result, (t-cal = 49.496) indicate a positive effect. Based on the findings, the study concluded that the strategic planning process has not been fully implemented by SMEs operators in the South-east Region of Nigeria. The study therefore recommends that SMEs operators/managers should be motivated to align their performance to the planned goals in their strategic plan. If these elements are consciously integrated into SME business plans and judiciously implemented, there would be a stimulating effect on the overall performance of these enterprises; thus triggering growth, profit and sustainability.

Advancing Research Methodology in the African Context

Advancing Research Methodology in the African Context
Author: Baniyelme D. Zoogah
Publisher: Emerald Group Publishing
Total Pages: 246
Release: 2014-12-03
Genre: Business & Economics
ISBN: 1784414891

This volume of Research Methodology in Strategy and Management reflects a diversity of Africa-born authors in the mainland and diaspora, as well as non-Africans whose research focus on Africa, it offers high impact research that makes a major contribution in advancing management education and knowledge in Africa.

The Effect of Business Strategy on Organizational Performance of Small-Medium Scale Enterprises in the Manufacturing Sector of Ghana

The Effect of Business Strategy on Organizational Performance of Small-Medium Scale Enterprises in the Manufacturing Sector of Ghana
Author: John Parker Yanney
Publisher: GRIN Verlag
Total Pages: 16
Release: 2015-03-23
Genre: Business & Economics
ISBN: 3656926174

Scientific Essay from the year 2014 in the subject Business economics - Accounting and Taxes, ( Atlantic International University ) (Faculty of Business and Economics), course: Business Management, language: English, abstract: This study examined the impact of business strategy on the organizational performance of Small-Medium Scale Enterprises (SMEs) in the manufacturing sector of Ghana. Whereas some SMEs are aware of the extent to which strategy can impact on their businesses, not much has been studied to identify the specific strategies which can be used to improve the performance of the SMEs. The study made use of questionnaires which were adminstered to 100 respondents who were randomly drawn from 10 SMEs. The performance indices were derived from a time series data from 2008 to 2013 on sales, profits before tax and labour size. Regression and analysis of variance (ANOVA) were run to examine the relationship between strategy and organizational performance. It was found that, business strategy statistically and significantly impacted on organizational. Again, cost leadership significantly influenced organizational behaviour but differentiation and focus strategies did not. The study recommends that the SMEs should strategic enough and also take advantage of cost leadership to enhance growth and induce greater organizational performance.

Business Strategy and Leadership Style: Impact on Organizational Performance in the Manufacturing Sector in Ghana

Business Strategy and Leadership Style: Impact on Organizational Performance in the Manufacturing Sector in Ghana
Author: John Parker Yanney
Publisher: GRIN Verlag
Total Pages: 150
Release: 2015-02-03
Genre: Business & Economics
ISBN: 3656888906

Doctoral Thesis / Dissertation from the year 2014 in the subject Business economics - Business Management, Corporate Governance, grade: B, ( Atlantic International University ) (Department Of Business Administration, Atlantic International University, USA), course: Business Management, language: English, abstract: This study sought to investigate the impact of leadership styles and business strategy on the organizational performance of Small-Medium Scale Enterprises (SMEs) in the manufacturing sector of Ghana. This had become necessary due to the fact that available literature on the subject matter lacked precision in terms of the specific leadership style and strategy which could better be employed to improve performance in the chosen area of study. A field survey (by means of questionnaires) was conducted in Accra, involving 60 CEOs and Senior managers drawn from 10 organizations, which were randomly sampled for the study. In addition, a time series data from 2008 to 2013 on sales, profits before tax and employment from the 10 organizations were collected to develop performance indices for the organizations. Regression and analysis of variance (ANOVA) were then run to examine the relationship between leadership, strategy and organizational performance. The study revealed that leadership and business strategy statistically and significantly impacted on organizational performance but strategy had the greater influence. Again, transformational leadership style and cost leadership significantly influenced organizational behaviour (p=.000