STRATEGIC MANAGEMENT AND ITS EFFECT ON THE PERFORMANCE OF SMALL-SCALE BUSINESS IN SOUTH EAST NIGERIA

Abstract

This study examined strategic management and its effect on the performance of small-scale business in South East Nigeria. The specific objectives include the following to: examine the extent to which effect of environmental analysis strategy affects Sales revenue of small-scale business in the South-East of Nigeria and determine the extent to which evaluation and control strategy affects customer retention rate of small-scale business in the South-East of Nigeria. The researcher employed survey research design. Structured questionnaire was used in five likert scale, in line with the objectives of the study. The population of the study is one thousand, five hundred (1,500), while the sample size of 400 was drawn, using Taro Yamane formula. Based on the data collected and analyzed with regression Analysis, the study found that; Environmental analysis strategy had positive effect on sales revenue of small-scale business in the South-East of Nigeria; (t-cal = 34.014, p-value = 0.000  0.05%). Evaluation and control strategy had positive effect on customer retention rate of small-scale business in the South-East of Nigeria. Consequence upon that, it is therefore, concluded that strategic management has positive and significant effect on the performance of small-scale business in South East Nigeria. Sequel to this, the survey recommends that SMEs in South East of Nigeria should pay serious attention to environmental analysis strategy through conducting seminars and effective workshops in order to boost positive effect on sales revenue and management of small-scale business should give evaluation and control strategy more attention by creating evaluation and control unit since it helps increases high premium to small-scale business owners and operators in South East of Nigeria