Power, Tolulope Morenike (2014) RELEVANCE OF STRATEGIC MANAGEMENT PRACTICES TO SMALL BUSINESS ENTERPRISE (SBEs) PERFORMANCE. Masters thesis, Covenant University, Ota.
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Abstract
The study examined relevance of strategic management practices to small business enterprises (SBEs) performance. The main objectives of this study is to determine how quality products enhance customer's satisfaction; to know whether Strategic Human Resource Management (SHRM) determines employees' turnover; to find out how better promotion strategy can boost sales and to examine the influence of SWOT analysis on business growth. The opinion of the study population in relation to this research topic was gathered by administering well-structured questionnaires. This research study adopted the convenience sampling techniques because of the homogeneous characteristics of population of study. A survey of 270 small business enterprises was carried out to determine how importance strategic management practices is to SBEs performance. Two hundred and sixty five (265) were collated for analysis and five percent (5%) were unusable. The null hypotheses includes; hypothesis one: quality products do not enhance customer's satisfaction; hypothesis two: strategic human resource management (SHRM) is not a determinant of employee turnover; hypothesis three: better promotion strategy do not boost sales and hypothesis four: SWOT analysis cannot influence business growth. Regression analysis was used in testing all hypotheses. The result of hypothesis one revealed coefficients of 0.578 and t value of 11.496 for product quality and customer satisfaction. The t-statistics is found to be positive. The null hypothesis was rejected. The result of hypothesis two revealed coefficients of 0.544 and t value of 10.524 for strategic human resource management (SHRM) and employee turnover. The t-statistics is found to be positive. The null hypothesis was rejected. The result of hypothesis three revealed coefficients of 0.537 and t value of 10.324 for promotion strategy and sales. The t-statistics is found to be positive. The null hypothesis was rejected. The result of hypothesis four revealed coefficients of 0.384 and t value of 6.663 for SWOT analysis and business growth. The t-statistics is found to be positive. The null hypothesis was rejected. The recommendation includes small business operators should ensure that they produce quality products in order to be able to give their customers maximum satisfaction; managers should ensure that they give their employees adequate training and also meet their needs in order for them to put more effort in their respective job; small business operators should engage in sales promotion in order to boost their sales thereby increasing their profit and managers should use SWOT analysis in order to know their business strengths and weaknesses, and also to identify both the opportunities open to them and the threats facing their business to enhance business growth
| Item Type: | Thesis (Masters) |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Mrs Patricia Nwokealisi |
| Date Deposited: | 06 May 2016 12:27 |
| Last Modified: | 06 May 2016 12:27 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/6568 |
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