STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA
Journal Title: Malete Journal of Accounting and Finance - Year 2024, Vol 4, Issue 2
Abstract
Small and Medium Enterprises (SMEs) in South-West Nigeria often face performance challenges due to inadequate strategic formulation, ineffective implementation, and insufficient evaluation, leading to resource underutilization and growth obstacles. This study investigated the impact of strategic management controls on SMEs' operational performance in the region. This study adopted a quantitative survey research design and collected primary data from 399 SMEs in South-West, Nigeria, selected through stratified random sampling. Partial Least Squares Structural Equation Modeling was used for data analysis. The findings revealed a significant positive relationship between strategic planning and operational performance (β = 0.233, p = 0.010), indicating the importance of strategic planning in enhancing performance. Additionally, strategic planning had a substantial impact on operational performance (β = 0.373, p = 0.000), demonstrating its effectiveness in driving improvements. Strategic evaluation also had a positive and significant influence on operational performance (β = 0.243, p = 0.000), highlighting its role in performance enhancement. The study concluded that strategic management controls are strong predictors of SMEs' operational performance. The study recommended that SMEs focus on improving their strategic planning processes and invest in robust evaluation processes to assess the effectiveness of implemented strategies and make informed decisions for future endeavors.
Authors and Affiliations
Yusuf Alabi Olumoh,
Keywords
Related Articles
- EP ID EP745086
- DOI -
- Views 1
- Downloads 0
CUSTOMER RELATIONSHIP MANAGEMENT TOOLS AND ORGANIZATIONAL PERFORMANCE OF COMMERCIAL BANKS IN SOUTHWEST, NIGERIA
The purpose of the study was to examine the extent at which customer relationship management tools influence the organizational performance of commercial banks in Southwest, Nigeria. The study was carried out using the d...
AUDIT COMMITTEE’S ATTRIBUTES AND QUALITY OF FINANCIAL REPORTING ON LISTED CONSUMER GOODS FIRMS IN NIGERIA
Confidence of the community in general and the investment community in particular in the accuracy of the Nigerian companies' financial reports has decreased due to the repeated documentation of accounting manipulations...
VALUE RELEVANCE OF FAIR VALUE HIERARCHY INFORMATION OF NIGERIAN NON-FINANCIAL FIRMS
Switch from Statement of Accounting Standard (SAS) to the International Financial Reporting Standards (IFRS) in Nigeria requires reporting entities to mark-to-market financial assets and liabilities and to recognise hold...
DETERMINANTS OF CORPORATE TAX AGGRESSIVENESS IN NIGERIAN DEPOSIT MONEY BANKS
The profit mÉking motives of business enterprise Énd the quest to meet up with shÉreholder expectÉtion especially in banking industry hÉs resulted in Émong other Éctivities in the firm to tÉx ÉvoidÉnce meÉsure...
STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA
Small and Medium Enterprises (SMEs) in South-West Nigeria often face performance challenges due to inadequate strategic formulation, ineffective implementation, and insufficient evaluation, leading to resource underutili...