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Competitive Strategy and Performance of Selected SMEs in Nigeria

Uchegbulam, Princess and Akinyele, S.T. and lbidunni, Ayodotun S. (2015) Competitive Strategy and Performance of Selected SMEs in Nigeria. In: 2nd Covenant University Conference on African Development Issues (CU-ICADI), 11th - 13th May, 2015, Africa Leadership Development Center, Covenant University, Ota, Nigeria..

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The present business environment is characterized by high levels of competition, dynamism and technological sophistication. This is especially challenging to organizational managers since they have to design and implement strategies that can achieve and sustain higher performance levels. Consequently, the topic of competitive strategies plays a pivotal role as organizations aim at gaining industry leadership. This study set out to investigate the impact of competitive strategy on performance of Small and Medium Enterprises in Nigeria. Gaining insight from existing literature and theoretical models fom· hypotheses we1·e developed and tested using 1·egression analysis. Copies of well structured questionnaire were administered to 150 randomly selected SMEs in Ikeja and Surulere local government areas of Lagos State. The findings revealed that there is a relationship between product features and customer base; product customization and sales growth, value added products and revenue growth. It also indicated that better product quality has an influence on returns on investment. This research recommended that in order to be more competitive, organizational managers must be strategically aware of customer needs and offer unique products and services that satisfy such needs

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Firm Competition, Competitive Strategies, SMEs, Resource Based View, performance
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 25 Jun 2015 16:40
Last Modified: 25 Jun 2015 16:40

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