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 underutilization and growth obstacles. This study investigated the impact of strategic ma...
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| Format: | Article |
| Language: | English |
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Kwara State University, Malete Nigeria
2024-10-01
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| Series: | Malete Journal of Accounting and Finance |
| Subjects: | |
| Online Access: | https://majaf.com.ng/index.php/majaf/article/view/149 |
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| _version_ | 1823857133890830336 |
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| author | Yusuf Alabi Olumoh |
| author_facet | Yusuf Alabi Olumoh |
| author_sort | Yusuf Alabi Olumoh |
| collection | DOAJ |
| description |
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.
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| format | Article |
| id | doaj-art-6658d2f2f4da4fe09d5b611bcbf40cf3 |
| institution | Kabale University |
| issn | 2735-9603 |
| language | English |
| publishDate | 2024-10-01 |
| publisher | Kwara State University, Malete Nigeria |
| record_format | Article |
| series | Malete Journal of Accounting and Finance |
| spelling | doaj-art-6658d2f2f4da4fe09d5b611bcbf40cf32025-02-11T23:08:10ZengKwara State University, Malete NigeriaMalete Journal of Accounting and Finance2735-96032024-10-0142STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIAYusuf Alabi Olumoh0Kwara State University, Malete 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. https://majaf.com.ng/index.php/majaf/article/view/149Strategic Management ControlsStrategic PlanningStrategic ImplementationStrategic EvaluationOperational Performance |
| spellingShingle | Yusuf Alabi Olumoh STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA Malete Journal of Accounting and Finance Strategic Management Controls Strategic Planning Strategic Implementation Strategic Evaluation Operational Performance |
| title | STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA |
| title_full | STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA |
| title_fullStr | STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA |
| title_full_unstemmed | STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA |
| title_short | STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA |
| title_sort | strategic management controls and operational performance of small and medium enterprises in south west nigeria |
| topic | Strategic Management Controls Strategic Planning Strategic Implementation Strategic Evaluation Operational Performance |
| url | https://majaf.com.ng/index.php/majaf/article/view/149 |
| work_keys_str_mv | AT yusufalabiolumoh strategicmanagementcontrolsandoperationalperformanceofsmallandmediumenterprisesinsouthwestnigeria |