Cause-Effect Analysis of Strategic Planning and the Performance of Small and Medium-Size Enterprises in Kogi State
This study focused on the cause-effect analysis of strategic planning and the performance of Small and Medium-size Enterprises in Kogi State. The study covered SMEs’ cluster areas in three senatorial districts of Kogi State, and purposively selected 350 respondents. Data were analyzed using descr...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Danubius University
2019-08-01
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| Series: | Acta Universitatis Danubius: Oeconomica |
| Subjects: | |
| Online Access: | http://journals.univ-danubius.ro/index.php/oeconomica/article/view/5892/5092 |
| Summary: | This study focused on the cause-effect analysis of strategic planning and the performance of
Small and Medium-size Enterprises in Kogi State. The study covered SMEs’ cluster areas in three
senatorial districts of Kogi State, and purposively selected 350 respondents. Data were analyzed using
descriptive statistics, Logit and linear regression. Findings showed that SME owners lacked knowledge
and skills on strategic planning, and that tradition-based thinking has significant and positive effect on
strategic planning; while unavailability of resources has significantly negative effect on strategic
planning of SMEs in Kogi State. Furthermore, finding showed that strategic planning has significantly
positive effect on competitive edge and financial performance of SMEs in Kogi State. It was concluded
that strategic planning is a crucial tool for firms’ competitive and market situation. The study therefore
recommended that SME owners should invest in knowledge and skills regarding strategic planning,
and those SME owners, including the economic stakeholders, should establish a social network where
resources can be pooled and tradition-based thinking can be redirected to favour strategic planning of
enterprises in Kogi State. |
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| ISSN: | 2065-0175 2067-340X |