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I. Offiong, Amenawo, Chris O. Udoka, and James Godwin Bassey. "Financial risk and performance of small and medium enterprises in Nigeria." Investment Management and Financial Innovations 16, no. 4 (December 3, 2019): 110–22. http://dx.doi.org/10.21511/imfi.16(4).2019.10.
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Small and medium enterprises (SMEs) are imperative for the growth of a striving economy because they cater for a huge level of manpower and vast resources. Therefore, it is essential that their stability and performance should be ensured in order to promote the economic growth of Nigeria. SMEs are pronged to unsecured financial risk, which can lead to the collapse of the enterprises. Various studies have been done on the small and medium enterprises’ contribution to the Nigerian economic growth, but only few have addressed how financial risks affect it. This study aims to investigate how financial risk affects SMEs` performance. In other to achieve this exploratory research design was used and data were sourced from Central Bank of Nigeria (CBN) statistical bulletin from 1986 to 2017. The study uses autoregressive distributed lag (ARDL) techniques as the tool of analysis. It reveals a negative and insignificant relationship between financial risk and SMEs` performance in Nigeria in the long run. However, exchange rate risk, liquidity risk, interest rate risk and inflation risk have a significant, but negative impact on small and medium enterprises in the short run, as well as the long run. Financial risk adversely affects the performance of Nigerian SMEs and, therefore, should be controlled to enhance their performance.
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OKO, A. E. Ndu, and Innocent Kalu. "Marketing Performance Measurement Management: Study of Selected Small and Medium Scale Businesses in Nigeria." Advances in Social Sciences Research Journal 1, no. 4 (July 25, 2014): 43–66. http://dx.doi.org/10.14738/assrj.14.185.
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Asikhia, Olalekan, and Vannie Naidoo. "Assessment of the moderating effects of Nigerian market environment on the relationship between management success determinants and SMEs’ performance." Problems and Perspectives in Management 18, no. 4 (December 18, 2020): 388–401. http://dx.doi.org/10.21511/ppm.18(4).2020.31.
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A reported eighty-five percentage failure rate of SMEs in Nigeria before five years of operation was ascribed to a lack of knowledge of the market environment. Hence, this study investigated the moderating effects of the Nigerian market environment on the relationship between management success determinants and SMEs’ performance to see how the environment has affected SMEs’ performance. The study employed a survey research design, the population of the study comprised chief executive officers (CEOs) of registered SMEs, and a sample size of 1,102 was used. Probability sampling methods of stratified, proportionate, and random sampling were adopted. Responses were collected through a predetermined set of questions and a self-administered questionnaire. Data were analyzed using descriptive and inferential statistics. The study found that the Nigerian market environment had moderating effects on the relationship between management success determinants and SMEs’ performance (R = 0.817, R2 adjusted = 0.664, R2 change = 0.041, and Fchange = 19.694 at ρ = 0.000), most of the Nigerian market environment’s components have significant moderating effects on all the management success determinants relationship with SMEs’ performance; management skills (β = 0.220, 0.182; ρ < 0.05), innovation (β = 0.147, 0.135; ρ < 0.05), operating system (β = 0.083, 0.061; ρ < 0.05), organizational structure (β = 0.290, 0.303; ρ < 0.05), business reporting system (β = 0.142, 0.137; ρ < 0.05), system flexibility (β = 0.110, 0.107; ρ < 0.05), environmental scanning (β = 0.091, 0.062; ρ < 0.05). Only decision-making is not statistically significant (β = 0.037, 0.004; ρ > 0.05). These imply that Nigerian SMEs’ decisions under intense environmental turbulence are mostly ineffective, and the effects of management success determinants in facilitating performance were also drastically reduced as well as firms’ system flexibility. The study has a practical value of identifying the effect of the Nigerian market environment on the relationship between management success determinants and SMEs’ performance, thus revealing the gaps in the Nigerian SMEs’ management factors. Acknowledgment(s)To Small and Medium Enterprises Development Agency of Nigeria and Small Scale Enterprises Association of Nigeria for their support in ensuring participation of their members.
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Adeola, Ogechi, and Kennedy Ezenwafor. "The hospitality business in Nigeria: issues, challenges and opportunities." Worldwide Hospitality and Tourism Themes 8, no. 2 (April 11, 2016): 182–94. http://dx.doi.org/10.1108/whatt-11-2015-0053.
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Purpose This paper aims to advance cooperation and collaboration as solutions to problems in the Nigerian hospitality industry. The issues and challenges plaguing the hospitality industry in Nigeria are discussed in the context of the case company, a small independent restaurant in Lagos. Design/methodology/approach Phenomenological research strategies guided the approach to this study. The authors identified a specific problem and gathered information, primarily through one-on-one interviews and a focus group, to learn how individuals within a defined industry experienced the ramifications of the phenomenon. Findings The operating environment of the hospitality sector in Nigeria has an effect on the supply of skills and the financial performance of the case restaurant and similar hospitality businesses. To improve overall performance of the industry, private-public partnerships between government agencies, hospitality colleges and hospitality businesses, strategic partnerships between expert hospitality institutions and business schools, cooperation among hospitality business owners and improvement in managerial practices could be strategic moves for an industry operating under heavy institutional hindrances peculiar to Nigeria. Research limitations/implications The authors analysed the environmental trickle-down effect that could impact the profits of the restaurant. Organisational qualities such as leadership styles, the psychology of employment and the operations or policies of the company are not viewed in this context. The issues of the restaurant and a few hospitality businesses in Lagos were flagged as a representation for the industry in Nigeria. Practical implications Predisposing factors contributing to the attributed negative trickle-down effect on the enabling business environment for the industry, strategic partnerships, attaining high standards for curriculum development at educational institutions and enhanced training, with the goal of assuring creditable skills within the hospitality industry. Originality/value This paper is among the first to examine the critical issues, challenges and opportunities facing the hospitality industry in Nigeria.
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Sajuyigbe, Dr Ademola Samuel, Tajudeen A. Odetayo, and Adewumi Z. Adeyemi. "Financial Literacy and Financial Inclusion as Tools to Enhance Small Scale Businesses’ Performance in Southwest, Nigeria." Finance & Economics Review 2, no. 3 (September 24, 2020): 1–13. http://dx.doi.org/10.38157/finance-economics-review.v2i3.164.
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Purpose: The study sought to examine the impact of financial literacy and financial inclusion on small businesses’ overall performance with special reference to Southwest Nigeria.
Methods: Descriptive survey research sketch was adopted for this study, while the purposive sampling method was employed to choose forty small scale businesses registered with SMEDAN from each state capital of South Western of Nigeria that engaged in petty trading, bakeries, block-making, soup-making, tailoring, and agro-allied, totaling 240 participants as a sample size for the study. Data were collected by using a closed-ended questionnaire designed for the study, while simple percentage, mean, standard deviation, Pearson Product Moment Correlation (PPMC), and Ordinary Least Square (OLS) was used to analyze the data.
Results: The findings disclose that financial literacy and financial inclusion jointly and independently affect small businesses’ performance. It revealed a positive and significant relationship between financial literacy and financial inclusion. However, the study depicts that majority of business operators did not have financial knowledge such as working capital management, accounting records system, financial reporting, cashbook maintenance, income statement, daily cash reconciliation, internal control on cash, and cash budget. Also, the study confirmed that the majority of small business entrepreneurs are financially excluded from micro-financing, emergency loans, employ purchase financing, business bank loans, and micro-insurance plan Services.
Implications: The implication of this study is that if the Central Bank of Nigeria partnership with other professional organizations to promote financial literacy and inclusion programs to all business entrepreneurs across the nation, it will motivate more business entrepreneurs in Nigeria to have access to finance.
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Ojubanire, Olugbenga Ayo, and Solomon Dawodu. "Risk management practices and financial performance nexus: Evidence from MSMEs in Osun State, Nigeria." Journal of Management Info 8, no. 1 (May 1, 2021): 44–55. http://dx.doi.org/10.31580/jmi.v8i1.1839.
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This study assessed the effect of enterprise risk management on the firm financial performance of Micro, Small and Medium-scale Enterprises in Osun state Nigeria. Precisely, the risk encountered, the adoption of risk management practices, the implementation of Enterprise Risk Management (ERM) practices, and the financial performance of micro, small and medium scale enterprises in Osun state Nigeria. Primary data was used for this study; a well-structured questionnaire was used to elicit data from 273 respondents. The study population consists of owners and managers of small and medium businesses in Osun state, Nigeria. Data were analyzed using descriptive analysis and was the inferential statistic used to test the hypotheses. The results showed that market (33.7%), strategic (57%), financial (46.9%), operational (34.2%), management (47.6%), and technological (45.4%) are risks prevalent to micro and small businesses, but most of the respondents disagreed that the relationship of their staff to the customer is poor. Risk acceptance with a mean score of (2.27 ± 1.21) is the most utilized risk management practice adopted by the MSMEs. The implementation of ERM practices shows that MSMEs more utilized setting of objectives (43.6%), risk identification (38.3%), risk assessment (36.2%), and control activities (31.2%) and the financial performance of the businesses was moderate (69.7%). The correlation analysis shows no significant relationship between the scale of business and the adoption of risk management practices. Also, the regression analysis shows that Risk identification (β = 0.388, p ≤0.01) and Control activities (β = 1.096, p ≤0.01) are the only ERM variables that significantly affect financial performance. The study concluded that the implementation of enterprise risk management practices has a significant effect on the financial performance of Micro, Small and Medium enterprises in Osun State, Nigeria.
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Israel Akeke, Niyi. "Strategic Interventions and Performance of Small and Medium Enterprises in Nigeria." International Journal of Community Development and Management Studies 3 (2019): 017–29. http://dx.doi.org/10.31355/38.
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NOTE: THIS ARTICLE WAS PUBLISHED WITH THE INFORMING SCIENCE INSTITUTE. Aim/Purpose................................................................................................................................................................................................. The study seeks to examine the strategic interventions needed to promote the performance of small and medium enterprises (SMEs). Specifically, it analyzed the relationship between organizational learning, cultural values and SMEs performance. Background................................................................................................................................................................................................ The performance of SMEs has been identified as one of the most important success factors behind growth, development and industrialization of nations. In anticipation of such outcome, SMEs have been given adequate attention in emerging economies such as Nigeria but it has performed below expectations. Existing studies noted that business organizations are able to develop by employing strategic management interventions. Strategic interventions involve a deliberate attempt to move organizations towards a more effective state and improve performance. The expected components of strategic interventions needed to achieve the expected change in performance of SMEs are organizational learning and cultural change. However, there has not been a complete research outcome on the relevance of organizational learning and cultural change to SMEs performance in Nigeria. Therefore, the main research question is; whether organization learning and cultural values contribute significantly to SMEs performance. Methodology................................................................................................................................................................................................ In this study, the researcher employs quantitative research methods. Structured questionnaires are used to collect primary data. The study uses data set of 571 owners/managers of registered SMEs with the Ministry of Commerce and Trade in the study area. The structural equation modeling (SEM) was performed to address the research objectives. Contribution................................................................................................................................................................................................ The study provides useful information to understanding the path to achieving SMEs performance through application of strategic interventions approach. It highlights the relevance of organizational learning to improving market share and profit in the small and medium enterprises sector. Findings..................................................................................................................................................................................................... The findings indicate that organizational learning can positively boost performance of the SMEs but cultural values, though covaried with organizational learning do not add to performance outcome of the SMEs. The organizational learning is found to play the direct role of boosting performance through team learning, empowerment, embedded system, inquiry and dialogue and continuous learning respectively. Recommendations for Practitioners............................................................................................................................................................ Increasing performance of small businesses that impact on overall development is a considerable challenge. Consequently, the study highly recommends integration of strategic intervention that is anchored on organizational learning constructs for satisfactory outcome in the SMEs. In achieving this, less emphasis on cultural values may be useful. Recommendation for Researchers............................................................................................................................................................... It is suggested that this type of study needs to be conducted in public-owned establishments and business corporations with large business structure. This may help to further establish the theoretical relevance of strategic interventions to SMEs performance across various dimensions of business forms and organizations. Impact on Society.......................................................................................................................................................................................... The findings provide adequate pathway to societal development through SMEs. For the expected growth of society to emerge through investments in SMEs, stakeholders in the society should take advantage of information embedded in strategic interventions in their performance drive. Future Research.............................................................................................................................................................................................. The study outcomes are much relevant to developing economies in need of small and medium business interventions to tackle growth, unemployment and societal development. Future research, especially in developing and emerging economies may explore the relevance of the approach to boosting small business in their area. The specific contribution of cultural values in that context may be tested.
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Sa'eed, Abdulmalik, Nuru Gambo, Ibrahim Ibrahim Inuwa, and Innocent Musonda. "Effects of financial management practices on technical performance of building contractors in northeast Nigeria." Journal of Financial Management of Property and Construction 25, no. 2 (April 13, 2020): 201–23. http://dx.doi.org/10.1108/jfmpc-07-2019-0064.
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Purpose The purpose of this study is to assess the effects of financial management practices of small-scale building contractors on the technical performance of the contractors in the northern part of Nigeria with international best practices. Previous studies argued that the technical performance of small-scale building contractors in developing countries is poor because of insufficient cash to acquire strategic resources at the outset of a project. This continues to pose a challenge to the sustainable development of the construction industry, particularly in developing countries like Nigeria. There is, therefore, a need to identify, assess and compare the effects of financial practices of the contractors with technical performance best practices. Design/methodology/approach The technical performance of each contractor was evaluated using a five-point Likert scale. This is used to obtain the mean technical performance levels of the contractors. A questionnaire survey was administered to the professionals in the industry who were selected by using a proportionate stratified random sampling technique. The contractors’ performance was compared using ANOVA with post hoc, and the effects of contractors’ financial management practices were determined using multiple regression analysis. Findings The results of this study indicated that the contractors in Nigeria were average technical performers and there were large effects of financial management practices on the technical performance of contractors in building projects. Research limitations/implications This study is limited to small-scale building contractors in northeast Nigeria. One of the implications of this study is that it provides the criteria for an evaluation of small-scale building contractors’ technical performance in Nigeria and other developing countries that faced similar problems. Practical implications The practical implications of this study are that it establishes the current level of contractors' technical performance and serves as an awareness of contractors' current financial practices. Social implications This study created bases for self-evaluation of contractors’ technical performance and competition among small-scale contractors in Nigeria for the enhancement of productivity particularly in rural areas for national development. Originality/value This study emanated from the government reports and past studies in the area of performance management based on the persistence of poor technical performance of small-scale contractors in the construction industry.
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Okwu, Andy Titus. "Business environment and the financial performance of small and medium enterprises: A study of Lagos state, Nigeria." Corporate Ownership and Control 12, no. 4 (2015): 493–505. http://dx.doi.org/10.22495/cocv12i4c4p7.
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The financial outcome of an enterprise is perceived to have some relationships with its operational environment. This study analysed the business environment as a correlate of financial performance of small and medium enterprises (SMEs), as to contribute to environment-enterprise policy mechanisms and regulatory framework, industry and management practices. Relevant definitional criteria and World Bank’s model were adopted to sample 228 SMEs from 456 via judgmental and convenience techniques. Multifactor business-environment questionnaire (MBEQ) was used to elicit responses from SMEs in a field survey. Enterprise type, activity, product line and financial performance were examined. Results showed dominance of sole proprietorship and services SMEs, multi-product lines, and highly positively correlated financial performance and business environment. Consequently, improved SME-friendly business environment was recommended.
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Eniola, Anthony Abiodun, and Harry Entebang. "SME Managers and Financial Literacy." Global Business Review 18, no. 3 (April 4, 2017): 559–76. http://dx.doi.org/10.1177/0972150917692063.
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The aim of this study is to examine the level of small and medium enterprises (SMEs) business owners–managers’ financial literacy and its impact on firm’s performance. The article applied a random sample and structural equation modelling (SEM) approaches in assessing the influence of SME business owners–managers’ level of financial literacy within the three states in the southwest Nigeria. The findings show the complete effect of business owner–manager’s financial knowledge, financial awareness and financial attitude in converting financial literacy to increase in firm performance. Also, they confirm that financial knowledge and awareness of SME business owners–managers are obviously not a prerequisite for the performance of SMEs, but entrepreneur characteristics in decision-making and relationship to financial attitude have a comparison with financial literacy. The research limitation evolves from cross section information observation that solely covers the southwestern part of the country. Additionally, inspired to meet the analysis gap is panel data analysis. Training courses through strategic orientation on the attitudinal perception of SME business owner–manager and basic business management skills, capacity-building aspect, leadership development as well as networking via relationship marketing and management on financial literacy may have significant effect on SMEs’ performance and growth for the managers in general in Nigeria. The article is one of the first to examine the level of financial literacy of SME business owners–managers in Nigeria. The article therefore sets an important benchmark for further research in this area.
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Ugheoke, Solomon Ozemoyah. "Does Organizational Culture Matter in Managerial Role and High-Performance Achievement? Lessons from Nigeria SMEs." Business Perspectives and Research 9, no. 3 (February 7, 2021): 385–98. http://dx.doi.org/10.1177/2278533721989831.
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Managerial role and organizational performance has long been highlighted by previous researchers, but majority of the researches was conducted in developed economies. Relatively small firms in developing economies are under research as the legal institutional framework and strategic markets are not well developed. Our aim is to examine how managers influence high performance achievement among small firms, and how their role is being strengthened by organizational culture. A sample of 250 managers in small- and medium-scale enterprises (SMEs) was used. The hypothesis was tested through multiple and hierarchical regression analysis. Result showed that managerial role has direct and indirect influence on high performance achievement among small firms. The study recommended that managerial practical knowledge or skills has a stronger influence on high performance achievement if the institutional environments of small firms permit managers to explore the resources generated by their experience and skills. This suggests that managerial resources alone cannot contribute to high performance achievement without strong and supportive organizational culture. SMEs should focus on building market related competitive capability in an effort to capture the emerging market prospects in these economies.
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Simon, Sunday, Norfaiezah Sawandi, and Mohamad Ali Abdul-Hamid. "A reassessment of the relationship between working capital management and firm performance: evidence from non-financial companies in Nigeria." Investment Management and Financial Innovations 15, no. 3 (September 13, 2018): 249–66. http://dx.doi.org/10.21511/imfi.15(3).2018.21.
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This paper reassesses the relationship between working capital management (WCM) and firm performance in the Nigerian context. The study is motivated by the limited insights available on the impacts of WCM on firm performance in the country. To date, most studies from Nigeria have been largely descriptive and focused on a small sample size that is non-representative of the population. In addition, there are limited rigorous statistical analyses involved in such studies. This paper addresses the methodological limitations apparent in prior literature and provides a better understanding of the relationship between WCM and firm performance, revealing how firms can manage their operations more profitably. The paper adopts a panel data regression analysis on a sample of 75 non-financial firms listed on the Nigerian Stock Exchange from 2007 to 2015. The results of the analyses showed that WCM variables have an inconsistent relationship with the measures of performance adopted, which were return on assets and Tobin’s Q. Specifically, accounts receivable management and inventory management were negatively associated with the return on assets, while accounts payable management, cash conversion cycle and cash conversion efficiency were positively associated with return on assets. Additionally, accounts receivable management and inventory management were positively associated with Tobin’s Q, whereas accounts payable management, cash conversion cycle and cash conversion efficiency were negatively associated with Tobin’s Q. These results were found to be robust using quantile regression. The results of the quantile regression showed inconsistency across the various quantiles used (0.10, 0.25, 0.50 and 0.75). These findings have two important implications. The first is that WCM variables influence the performance of firms. The second is that the mixed findings partly indicate that firms and managers must understand and formulate WCM policies that reflect their peculiar conditions.
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Gambo, Nuru, Ilias Said, and Radzi Ismail. "Comparing the levels of performance of small scale local government contractors in Northern Nigeria with international practice." Engineering, Construction and Architectural Management 23, no. 5 (September 19, 2016): 588–609. http://dx.doi.org/10.1108/ecam-12-2014-0155.
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Purpose The purpose of this paper is to compare the performance levels of small scale local government contractors (SSLGCs) in northern part of Nigeria with international practice. Previous studies focused attention primarily on benchmarking the performance of contractors, but were mostly conceptual rather than from empirical findings. This continuous to pose a challenge to the sustainable development of the construction industry, particularly, in developing countries like Nigeria. There is therefore a need to identify, assess and compare performance practice levels of small scale contractors. Design/methodology/approach The performance of each contractor was evaluated using a five-point Likert scale used in obtaining mean performance levels in respect to three classes of performance practices. A questionnaire survey was administered to major parties in the industry; clients, contractors and consultants who were selected by using a proportionate stratified random sampling technique. The contractors’ performance was compared by using ANOVA with post hoc. Findings The results indicated that the SSLGCs in Nigeria were average performers and there were effects and differences among the various contractors’ levels of performance with international practice. Research limitations/implications The study is limited to SSLGCs in northern part of Nigeria. Practical implications The study provided the criteria for evaluation of SSLGCs’ performance in Nigeria and other developing countries that faced similar problems. Social implications The study created bases for self-evaluation and competition among small scale contractors in Nigeria for the enhancement of productivity particularly in rural areas and general national development. Originality/value This study emanated from the governmental reports and past researches in the area of performance management on the persistence of the poor performance of small scale contractors in construction industry.
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Okon, Emmanuel Okokondem. "Supply Chain Management and MSMEs Growth in Developing Countries: A Focus on North Central Region of Nigeria." International Journal of Small and Medium Enterprises 1, no. 1 (January 17, 2018): 19–33. http://dx.doi.org/10.46281/ijsmes.v1i1.65.
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Today’s business environment for Micro, Small, and Medium Enterprises (MSMEs) as well as large, global companies is more fluid and complex than ever before. Companies are adapting their supply chains to respond to increasingly competitive market conditions and to deliver higher revenue and greater value to their shareholders and customers. The study employed retrospective design. Respondents were selected using purposive sampling to arrive at the desired sample of the owners of Micro, Small, and Medium Enterprises in selected states of the north-central Nigeria. The 5-point Likert scale was employed to allow for precise responses on some issues raised regarding their supply chain management. Given the data gathered and generally ranking the totality of the Micro, Small, and Medium Enterprises in terms of least performance based on the indicators used, the result shows that the Micro, Small, and Medium Enterprises performed least on Total Delivered Cost followed by Operating Costs, Performance to Plan, Inventory, Supply Variability, Demand Variability, and Customer Service. In order to succeed, Micro, Small, and Medium Enterprises in Nigeria, particularly in the north-central states need to be able to increase inventory velocity, achieve the shortest possible cycle times, continually improve their supplier performance and drive their sales and market share.
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Gorondutse, Abdullahi Hassan, and Haim Hilman. "Does organizational culture matter in the relationship between trust and SMEs performance." Management Decision 57, no. 7 (July 8, 2019): 1638–58. http://dx.doi.org/10.1108/md-05-2018-0557.
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PurposeAlthough literature indicated that business social responsibility (BSR) is now a common practice and accepted norm among business enterprises globally, the concept is not well understood and its influence on business performance is contradictory. Therefore, based on the stakeholder theory, the purpose of this paper is to examine the association among trust of BSR and the performance of small-scale industries in Nigeria with organizational culture as a moderating factor.Design/methodology/approachThe hypotheses of the study were tested using personally administered survey questionnaires; the study obtained 486 valid questionnaires, which were evaluated using SmartPLS Algorithm and bootstrapping functions.FindingsThe research findings were established using SmartPLS Algorithm and bootstrapping functions. According to the results, the research constructs have a satisfactory convergent and discriminant validity. Equally, the overall model has a very high predictive relevance. In addition, the results showed that all the predicting variables explained 40 percent variance in the criterion variable. Thus, the study established strong positive influence of trust of BSR on the small-scale industrial performance. Correspondingly, the study established a strong positive impact of organizational culture on the performance of the small-scale industries. However, the study could not establish the moderating influence of organizational culture on the constructs.Research limitations/implicationsThe study used perceptions of owner/managers and only small-scale industries.Practical implicationsThe research findings may be found beneficial to policy makers and academics, particularly in understanding trust of social responsibility, its influence on performance of small-scale industries and fit between organizational culture and strategic direction of a business enterprise.Originality/valueThe study offers some meaningful contribution to knowledge on BSR by exploring the mechanisms connecting trust of BSR with performance. Also, research expert in the field of BSR usually explores the advantage of these findings by utilizing the action of BSR on internal and external stakeholders.
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AWOLEYE, OLUSESAN MICHAEL, OLUGBENGA MATTHEW ILORI, and TIMOTHY OYEDEPO OYEBISI. "SOURCES OF INNOVATION CAPABILITY AND PERFORMANCE OF ICT AGGLOMERATED MSMEs IN NIGERIA." International Journal of Innovation Management 24, no. 04 (June 25, 2019): 2050032. http://dx.doi.org/10.1142/s1363919620500322.
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It has been established in both developed and emerging economies that geographic concentration of firms contributed in no small ways to the growth of country’s economy. However, in developing countries like Nigeria, what constitutes innovation capability needed to transform local innovation system towards indigenisation of ICT products among the ICT clustered firms is not known; and where data are available, they are somewhat outdated. This paper therefore presented empirical evidences on Innovation capability among agglomerated MSMEs in Nigeria. The research adapted the 6th Community Innovation Survey (CIS) on 228 owners of ICT clustered enterprises. It was found that nontechnical innovations were more prevalent in the clusters. It was also discovered that firms with appropriate mix of both internal and external sources of Innovation Capability performed better. The research thus added to the body of knowledge in development literature on the role of capability mix in innovation management.
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Amasuomo, Ebikapade, and Jim Baird. "Investigating the Wastes Management Practices of Businesses in Nigeria." Journal of Management and Sustainability 6, no. 4 (November 28, 2016): 107. http://dx.doi.org/10.5539/jms.v6n4p107.
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<p class="EbiBody">Wastes and environmental management in many Nigerian cities have suffered tremendous setbacks in the last few decades. Literatures and environmental reports confirm a below average performance in relation to wastes and environmental management practices. Apart from unwholesome practices that characterises wastes management at household levels, many businesses across Nigeria have also capitalized on the lack of proper monitoring and enforcement of wastes and environmental laws to adopt practices that promotes organizational profits over environmental quality.</p><p class="EbiBody">Hence, the current research investigates wastes management practices of small businesses (retailers) in Nigeria with a view to identify where corrections should be made in order to improve the overall wastes management standards in the country.</p><p class="EbiBody">In order to achieve these aims and to proffer adequate solutions to the wastes management issues in the city, the paper employed a mixed method approach using closed and open-ended questionnaires in collecting data. In all about 900 questionnaires were collected and analysed for the study. A multi stage cluster sampling technique was employed due to the unavailability of an up-to-date sampling frame in the study area.</p><p>It was found that businesses were heavily involved in unfriendly environmental practices such as; burning of wastes, random and indiscriminate disposal, dumping of wastes on water bodies and disposal on illegal dumpsites. These wastes management practices were found to be a clear violation of standard international best practices as only a fraction of businesses dispose their wastes using official disposal points. The study therefore advocates that the wastes management authorities develop a means of influencing the environmental culture of organizations (retailers) in order to improve wastes management among businesses. Similarly, the research argues that adequate environmental policies be formulated and enforced in order to encourage retailers to embrace sustainable wastes management practices.</p>
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Olabode, Oluwaseun Eniola, Ogechi Adeola, and Shahin Assadinia. "The effect of export market-oriented culture on export performance." International Marketing Review 35, no. 4 (July 9, 2018): 637–60. http://dx.doi.org/10.1108/imr-08-2016-0167.
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Purpose The purpose of this paper is to examine how export learning capability and export environmental turbulence serve as mechanisms and boundary conditions to link export market-oriented culture to export performance. Design/methodology/approach A quantitative approach was undertaken to analyse longitudinal data of 249 small- and medium-sized exporting firms in Nigeria, a Sub-Saharan African economy. Findings Four major findings emerged from the study. First, export market-oriented culture positively influences export performance. Second, possessing an export market-oriented culture results in the development of high export learning capabilities. Third, export learning capability mediates the relationship between export market-oriented culture and export performance. Fourth, increases in export environment turbulence weaken the positive effect of export learning capability on export performance. Research limitations/implications This study does not investigate moderating effects which might affect the relationship between export market-oriented culture and export learning capability as this was beyond the scope of this study. Originality/value This study looks at developing economy environment as a unique context to examine the direct, mediating, and moderating effects of export market-oriented culture on export performance.
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Omotayo, Temitope Seun, Prince Boateng, Oluyomi Osobajo, Adekunle Oke, and Loveline Ifeoma Obi. "Systems thinking and CMM for continuous improvement in the construction industry." International Journal of Productivity and Performance Management 69, no. 2 (September 12, 2019): 271–96. http://dx.doi.org/10.1108/ijppm-11-2018-0417.
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Purpose The purpose of this paper is to present a capability maturity model (CMM) developed to implement continuous improvement in small and medium scale construction companies (SMSCC) in Nigeria. Design/methodology/approach A multi-strategy approach involving qualitative studies of SMSCC in Nigeria was conducted. Semi-structured interviews were conducted with purposively selected construction experts in Nigeria to identify variables essential for continuous improvement in SMSCC. Data collected were thematically analysed using NVIVO. Subsequently, a system thinking approach is employed to design and develop the CMM for implementing continuous improvement SMSCC, by exploring possible relationships between the variables established. Findings CMM provided a five-level approach for the inclusion of investigated variables such as team performance; culture; structure; post-project reviews, financial risk management, waste management policy and cost control. These variables are factors leading to continuous improvement in SMSCC, implementable within a six to seven and a half years’ timeline. Practical implications The system thinking model revealed cogent archetypes in the form of reinforcing loops that can be applied in developing the performance of SMSCC. Continuous improvement is feasible. However, it takes time to implement. Further longitudinal studies on the cost of implementing continuous improvement through CMM a knowledge transfer project can be initiated. Originality/value A methodical strategy for enhancing the effectiveness and operations of SMSCC in developing countries can be extracted from the causal loop diagram and the CMM.
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Abdullahi, Muhammad, and Rilwan Nakazalle Usman. "Management of Public Enterprises through Public Private Partnership in Nigeria." International Letters of Social and Humanistic Sciences 19 (December 2013): 76–81. http://dx.doi.org/10.18052/www.scipress.com/ilshs.19.76.
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Collaboration with corporations, small businesses, non-governmental organizations and civil society organizations to provide socially beneficial goods and services. Public enterprises and the private sector cooperate in providing services and infrastructure through a variety of mechanisms. The level of performance and development of public enterprise in the country are very low due to corruption, management inefficiencies, overstaffing and inflation. This paper therefore in tend to highlight the different mechanisms of public private partnership (PPPs) in the management of public enterprise including concessions, build-operate- and- transfer (BOTs) arrangement, joint ventures and informal and voluntary cooperation as applied in some Latin American and Asian countries. The paper recommends that the government should clearly identify goals and objectives of public private partnerships and embody them in an official set of laws, develop strategy for management plan for public private partnerships and create employment protection measures for current government employees in organization that will go in to public private partnerships.
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Akpan, Mfon Nathaniel Udo, Nai Chiek Aik, Peter Fernandes Wanke, and Wong Hong Chau. "Exploring the long-term trade-off between efficiency and value creation in horizontal M&As." African Journal of Economic and Management Studies 9, no. 2 (June 11, 2018): 130–47. http://dx.doi.org/10.1108/ajems-06-2017-0139.
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Purpose The purpose of this paper is to investigate the voluntary horizontal M&A impact on operating performance in Nigeria between 1995 and 2012 under different complementary approaches. Design/methodology/approach Residual income valuation (RIV), economic value-added (EVA), data envelopment analysis (DEA) and stochastic frontier analysis (SFA). Findings Results showed a statistically significant improvement in the technical efficiency of both bidder and target companies, the reduced efficiency levels of the bidder firms under DEA scores reveals the specifics of the productive technology. This may suggest that resulting merged companies in Nigeria may have not even become too big in scale or even reached the most productive scale size, despite their almost monopolistic position in the sector. This happens because the scale size of the sector is small per se, implying that the investments necessary to achieve synergistic gains have to be partially covered by price increases. Practical implications This study will guide both the M&A practitioners, investment banks, and the policy makes. In terms of having to review M&A policy as well as seeing to the improvement in the infrastructural needs. Social implications With improved performance, employment can be created thereby giving employment to the youths. This will reduce social problems. Originality/value From the literature and records, no long-term operating performance on voluntary mergers and acquisitions has not been carried out in Nigeria. The paper seeks to know the fundamental value of the firms after these transactions with the current methodology that is acceptable from the literature.
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Oladepo, Onigbinde Isaac, and Ojo James Olanipekun. "Marketing Research and the Potentials of SMEs in Sub-Saharan Africa: Conceptual Evidence from Nigeria." International Journal of Marketing Studies 8, no. 5 (September 22, 2016): 104. http://dx.doi.org/10.5539/ijms.v8n5p104.
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<p>This study evaluated the relevance of marketing research in unveiling the potentials of small and medium enterprises (SMEs) in sub-Saharan Africa with conceptual evidence from Nigeria. The study attempted to paint the pictures of marketing research and SMEs within the context of entrepreneurial marketing scheme. The study also adopted schema theory, the cognitive scheme for processing and retrieving marketing information, as the underpinning theory for the study. The explanatory cross-sectional survey research design was adopted as the study guide. The population of the study is made up of all operators of SMEs in Nigeria. Using multi-stage sampling technique, 248 marketing research-oriented operators of SMEs were selected. A structured interview schedule, which contains a number of nominal construct items, was used as research instrument to generate primary data from respondents that cut across the six geo-political zones in Nigeria. Cronbach’s Alpha reliability coefficients for all major constructs of the research instrument ranged between 0.73 and 0.81, while Average Variance Extracted (AVE) which further served as additional evidence of convergent validity also ranged from 0.842 to 0.865. Data generated were analyzed using basic descriptive statistics. The study revealed that the relevance of marketing research in unveiling the potentials of SMEs in sub-Saharan Africa can only be appreciated in the context of marketing function. Public relations and corporate affairs, human resource and personnel management, marketing and strategic management, as well as financial planning and technical development were conceptualized as the functional areas of business in which marketing research can easily be deployed to unveil the potentials of SMEs for optimal performance in sub-Saharan African region. The study concluded that some concerted efforts are needed to be made to reinvigorate the activities of the SMEs in sub-Saharan Africa. Marketing research, as amodern commercial tool, provides the required insights, direction and guide for optimized economic performance and sustainability of micro, small and medium scale enterprises in the region.</p>
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Osazevbaru, Henry. "Interest rate and exchange rate volatility and the performance of the Nigerian informal sector: Evidence from small and medium-sized enterprises." Ekonomski horizonti 23, no. 1 (2021): 19–32. http://dx.doi.org/10.5937/ekonhor2101019o.
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This paper investigates the joint impact of interest rate and exchange rate volatility on the performance of the informal sector in Nigeria, focusing on Small and Medium-sized Enterprises (SMEs). The annual time-series data on the exchange and interest rates for the period 1981-2018 were obtained from where exchange and interest rates volatility data were computed. The data analysis was carried out using descriptive statistics, correlation, a unit root test, an Autoregressive Distributed Lag (ARDL) bound test for cointegration and the ARCH regression model. The results obtained by the ARDL bound test confirmed the presence of the long-term relationship between interest and exchange rates volatility and SMEs' performance, which suggests that all the variables of interest move together in the long run. Moreover, the ARCH regression model showed a positive impact of exchange and interest rates volatility on SMEs' performance. However, only exchange rate volatility was significant. Thus, policy makers should pursue the interest rate and exchange rate regimes that will encourage massive investments in SMEs. This, in turn, would increase the performance of SMEs. Also, the monetary authorities should implement the policies aimed at curtailing incessant volatility in the exchange rate and the interest rate so as to protect SMEs from the external perturbations of the movements of the exchange rate and the interest rate.
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Attaochu, Egbita Ugbalu. "Quality Assurance of Teachers in the Implementation of the Curriculum of Technical and Vocational Education in Colleges of Education (Technical) in North Cental Nigeria." International Journal of Adult Vocational Education and Technology 4, no. 2 (April 2013): 34–43. http://dx.doi.org/10.4018/javet.2013040103.
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This study was carried out to ascertain the quality assurance of teachers (lecturers) in the implementation of the curriculum of Technical and Vocational Education (TVE) in Colleges of Education (Technical) in North Central Nigeria. Two research questions were formulated and answered in this study. Survey research and evaluation designs were involved. The sample for the study was 60. A 18 cluster item questionnaire and 35 psycho-productive multiple choice test items were developed and utilized to collect data. The data collected were analysed using percentages, means and performance gap analysis to answer the research questions. Based on the result of the study, it was recommended that improvement programs such as reviewing of TVE curriculum, supervisory committee for TVE be set up, qualified TVE teachers, Pruning down of curriculum of TVE to relevant content areas, small scale business management and entrepreneurial training should constitute TVE curriculum, accreditation of TVE courses should be based on well equipped workshop for skills development, short courses, seminars and workshops be organised to improve the quality of the teachers.
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Maldonado-Guzman, Gonzalo, Jesus Francisco Mellado-Siller, and Edith Reyes-Ruiz. "Brand Management and Business Performance in Mexican Small Business." Journal of Management and Sustainability 8, no. 3 (August 22, 2018): 16. http://dx.doi.org/10.5539/jms.v8n3p16.
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Brand management is a relatively new topic in marketing literature and it is considered by several researchers, academics and professionals, as one of the most important business strategies that allow not only a significant growth of the business performance of small enterprises, but also their continuity in the market where they participate. Similarly, brand management has also been analyzed and discussed at the core of enterprises and there are relatively few investigations that focus on small enterprises, and there are even less researches carried out in developing countries. For these reasons, the main goal of this empirical research is the analysis and discussion of the effects of brand management on the level of business performance in small enterprises, by using a sample of 300 small firms and by implementing a model of structural equations of second order, that can provide a deeper understanding of the current relation between brand management and business performance. The results obtained show that brand management has a positive and significant in the level of business performance in small enterprises.
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Abiodun Eniola, Anthony, and Harry Entebang. "Small and Medium Business Management-Financial Sources and Difficulties." International Letters of Social and Humanistic Sciences 58 (September 2015): 49–57. http://dx.doi.org/10.18052/www.scipress.com/ilshs.58.49.
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SMEs has performed an unparalleled role in coming to the Nigeria economic growth and assist as a training ground for entrepreneurs and a provider of solutions to address the challenges of unemployment in all consuming labours and promoting marketing growth. An opportunity for the wholesome advancement of SMEs in Nigeria was in connection to the sea change and growth policy as a consequence of the rapid advancement of the global economic system. But with the world economic unification, SMEs business environment is facing tremendous changes and more intense competition. Hence, the reason for this study is to confront the sources of SME firm financing, conceptualise its financial challenges and source causes with objectives to exploit the increase and advancement of SMEs prospectively.
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Ihua, Ugwushi Bellema, and Tejumade Omowumi Siyanbola. "Critical challenges limiting small business performance in Nigeria: an exploratory investigation." International Journal of Business and Globalisation 9, no. 2 (2012): 171. http://dx.doi.org/10.1504/ijbg.2012.048958.
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Kohtamäki, Marko, Teemu Kautonen, and Sascha Kraus. "Strategic Planning and Small Business Performance." International Journal of Entrepreneurship and Innovation 11, no. 3 (August 2010): 221–29. http://dx.doi.org/10.5367/000000010792217263.
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This paper examines the mediating role of opportunity exploration and resource exploitation in the relationship between strategic planning and small business performance. The research model is examined with a sample of 153 small Finnish firms. The results show that exploitation, but not exploration, carries the effect of strategic planning to the performance of a small firm. This implies that strategic plans as such are not sufficient to improve business performance unless they are carefully integrated into the actual processes and behaviour of the firm.
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Blackburn, Robert A., Mark Hart, and Thomas Wainwright. "Small business performance: business, strategy and owner‐manager characteristics." Journal of Small Business and Enterprise Development 20, no. 1 (February 15, 2013): 8–27. http://dx.doi.org/10.1108/14626001311298394.
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Seon Myeong Ok and 이우창. "Small business-specific management strategies and its impact on business performance." Korea International Accounting Review ll, no. 50 (August 2013): 305–22. http://dx.doi.org/10.21073/kiar.2013..50.015.
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María Cubillo‐Pinilla, José. "Small business performance in MNC suppliers' networks." Journal of Small Business and Enterprise Development 15, no. 3 (August 8, 2008): 571–83. http://dx.doi.org/10.1108/14626000810892355.
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Georgellis, Yannis, Paul Joyce, and Adrian Woods. "Entrepreneurial action, innovation and business performance: the small independent business." Journal of Small Business and Enterprise Development 7, no. 1 (March 2000): 7–17. http://dx.doi.org/10.1108/eum0000000006801.
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Thurik, A. Roy. "Introduction: Economic performance and small business." Small Business Economics 8, no. 5 (October 1996): 327–28. http://dx.doi.org/10.1007/bf00389551.
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Marin-Aguilar, José Trinidad, Gonzalo Maldonado-Guzmán, and Cid Leana-Morales. "Knowledge Management and Performance in Mexican Manufacturing Small Business." Research in Economics and Management 2, no. 3 (August 24, 2017): 135. http://dx.doi.org/10.22158/rem.v2n3p135.
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<p><em>Knowledge management has been recently considered in business administration literature, as a new discipline that has made an important contribution to the development and implementation of business strategies in organizations. Likewise, it has been considered that businesses, regardless of their size, that have implemented knowledge management as another one of their strategies have obtained significant benefits, being a higher level of performance one of them. In this sense, this paper with a simple of 124 firms analyzes the existing relation between knowledge management and the performance of small business in Aguascalientes state (Mexico). The obtained results show that knowledge management has a significant positive relation in the performance level of the small business.</em><em></em></p>
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Pinzon-Castro, Sandra Yesenia, Gonzalo Maldonado-Guzman, and Jose Trinidad Marin-Aguilar. "Market Knowledge Management and Performance in Mexican Small Business." International Journal of Business and Management 13, no. 4 (March 19, 2018): 127. http://dx.doi.org/10.5539/ijbm.v13n4p127.
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Market knowledge management is a relatively new construct in the current literature of business and management sciences. It is considered by some researchers and scholars as a possible miracle cure not only to obtain more and better results in small enterprises but also to improve significantly their level of business return. Similarly, the adoption and implementation of market knowledge management allow small enterprises to achieve more and better competitive advantages, a better market ranking and a significant increase in their business return. Therefore, this empirical research aims to analyze the prevailing relation between market knowledge management and the level of business return in small enterprises. In order to do this, a sample of 364 small and medium-sized enterprises was used from Aguascalientes State (Mexico). The results obtained show that market knowledge management has a positive and significant influence in the business return of small enterprises.
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Portovaras, Tetiana, Zhanna Harbar, Ihor Sokurenko, and Iuliia Samoilyk. "Management of small business entities." Independent Journal of Management & Production 11, no. 8 (May 1, 2020): 680. http://dx.doi.org/10.14807/ijmp.v11i8.1226.
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The purpose of the study is to identify the factors influencing the management of the activity of small businesses and to provide recommendations for its development through the resolution of crisis issues that prevent businesses from achieving strategic prospects and stable profits. The main factors for reducing the effectiveness of small businesses have been identified on the basis of the results of the questionnaire survey of one level of managers (small business directors), which should be taken into account in the formation of strategic management decisions and long-term development strategies. It is found that many of the factors are subject to managerial influence, which minimizes the negative impact on the performance of small business entities. The hypothesis that the main tool for stimulating small business development remains the state has confirmed with the help of research, but there is an urgent objective need to identify other factors that influence the activities of small businesses that impede their development and lead to closure. The study suggests that only a balance between the internal environment of small businesses and the regulatory framework of the state will allow them to work effectively in market conditions and provide the national economy with money. The authors present a position on the organization of a small business entity management system that reflects the links between processes and events in a market environment. The presented approach takes into account a number of elements of influence on a small business when forecasting its development in a strategic perspective. The results of the study showed that it is necessary to clearly identify the tasks at each stage of development of a small business entity, to form alternative models of its development by looking for ways to optimize activities and opportunities to avoid possible risks.
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Alasadi, Rami, and Ahmed Abdelrahim. "Analysis of small business performance in Syria." Education, Business and Society: Contemporary Middle Eastern Issues 1, no. 1 (February 29, 2008): 50–62. http://dx.doi.org/10.1108/17537980810861510.
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Mandhachitara, Rujirutana, and Siriporn (NaPombhejara) Allapach. "Small business performance in Thailand: key success factors." Journal of Research in Marketing and Entrepreneurship 19, no. 2 (October 16, 2017): 161–81. http://dx.doi.org/10.1108/jrme-06-2016-0018.
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Purpose This paper investigates how affirmative leadership management styles, market orientation and marketing intelligence drive the performance of small business enterprises in Bangkok, Thailand. Design/methodology/approach Small business performance is a formative measurement consisting of financial and marketing metrics. Other constructs are reflective. Some 200 manager-owners of small businesses were interviewed. The authors use structural modeling, partial least squares (PLS). Research limitations/implications The data were collected from two of 50 districts in Bangkok. The study is cross-sectional. Performance measures were self-reported. Practical implications Building and exercising affirmative leadership skills and behaviors in small business operations is crucial. Small businesses should focus their recruitment on this quality. Affirmative leaders must create and promote a systematic approach to gathering and analyzing market intelligence on customers and competitors and utilize this strategically. Originality/value This empirical paper establishes two important mediating roles of market orientation. First, affirmative leadership is necessary to motivate a market-oriented enterprise in its successful performance. Second, marketing intelligence contributes to business performance when it is driven by market orientation.
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Oladimeji, Moruff Sanjo, Benneth Uchenna Eze, and Kazeem Adeyinka Akanni. "Business Eco System and Micro, Small and Medium Enterprises (MSMES) Performance in Nigeria." International Journal of Entrepreneurial Knowledge 6, no. 1 (June 1, 2018): 76–86. http://dx.doi.org/10.2478/ijek-2018-0006.
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Abstract Firms are adopting collaborative network, which allow group of enterprises to enhance their performance and competitiveness. This study examines the effect of business ecosystem on MSMEs financial and non financial performance. The study employed survey research design, through the administration of structured questionnaires to 400 chief executives of MSMEs in Lagos, Anambra and Kano. The research instrument was validated by some academics and practitioners. A pilot study was conducted to ascertain the reliability of the instrument, by distributing the questionnaire to chief executives of 10 MSMEs twice within an interval of 14 days and the correlation of the first and the second study gave a Cronbach alpha of 0.84, which indicated that the instrument is highly reliable. Hypotheses were formulated and ordinary least square was employed to estimate the model with the aid of STATA version 14. Findings revealed that business eco system have positive and significant effect on MSMEs financial and non-financial performance. Therefore, it is recommended that MSMEs should consider their business eco system towards the enhancement of their financial and non financial performance.
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Aladejebi, Olufemi. "The Impact of Entrepreneurial Networks on The Performance of Small Business in Nigeria." Archives of Business Research 8, no. 3 (April 4, 2020): 281–93. http://dx.doi.org/10.14738/abr.83.8019.
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Networking is ultimately the process of exchanging information between two or more people; in this case, entrepreneurs. The main objective of this paper is to look into the firm attributes related to formal networking and investigate whether membership in formal networks in the form of business associations and industry/trade-specific associations has been an impact on the growth of SMEs business in Lagos, Nigeria. A purposeful sample was used to select respondents. Questionnaires designed to examine the views of the entrepreneur about SME networking were distributed amongst two SME groups, namely Nigerian Association Of Small Scale Industrialists (NASSI), Lagos, and PHARMALLIANCE (Association of Community Pharmacists). The research instrument was based on a five-point Likert scale. The questionnaire administered contained 2parts, Part 1: contains general information, while Part 2: contains specific questions relating to networking. The results of the analysis showed a generally positive overview of SME networking in Nigeria. The respondents mostly agree across both groups that networking is of great benefit to their businesses.
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Aregbeyen, Omo. "Business Re-Engineering and Organisational Performance in Nigeria: A Case Study of First Bank Nigeria Plc." International Business Management 5, no. 3 (March 1, 2011): 151–58. http://dx.doi.org/10.3923/ibm.2011.151.158.
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Zacca, Robert, Mumin Dayan, and Thomas Ahrens. "Impact of network capability on small business performance." Management Decision 53, no. 1 (February 9, 2015): 2–23. http://dx.doi.org/10.1108/md-11-2013-0587.
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Purpose – The purpose of this paper is to measure the impact of network capability (NC) on small enterprise performance via knowledge creation, and two dimensions of entrepreneurial orientation (EO): competitive aggressiveness and innovativeness. Design/methodology/approach – The authors propose a theoretical model that was tested using a survey instrument administered to owners and managers of small-sized enterprises within the United Arab Emirates. Theory development was assisted by semi-structured interviews with an independent sample of owners and managers of small enterprises. Findings – The results show that NC is positively related to knowledge creation and that competitive aggressiveness and innovativeness are key mediators between knowledge creation and firm performance. Research limitations/implications – The study contributes to theoretical development by integrating the domains of NC and knowledge creation to EO and small business performance. The authors show that the conversion from NC to small business performance is mediated by knowledge creation and the two dimensions of EO: innovativeness and competitive aggressiveness. Practical implications – The study findings present interesting practical implications for small business owners seeking to shift their firm’s orientation toward being more entrepreneurial. Originality/value – The study highlights the crucial role innovativeness and competitive aggressiveness play as mediators when the relation between knowledge creation and small business performance is examined.
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Ahmed, Ibrahim, Usman Yerima Abdullahi, and Ibrahim Abba. "Customer Retention Strategies: Benefits on Small Businesses in Nigeria." Global Journal of Business and Social Science Review (GJBSSR) Volume 4 (2016: Issue-3) 4, no. 3 (August 21, 2016): 63–67. http://dx.doi.org/10.35609/gjbssr.2016.4.3(9).
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Objective - This study endeavor to discover the benefits of customer retention strategies on customer retention and business performance in Nigeria. Methodology/Technique - Secondary data was used and a conceptual model developed to establish the relationship between customer retention and the retention strategies. Findings - The study observed that small businesses that practices customer retention strategies retains and satisfy their customers than those that do not. Novelty - It is recommended, however, that business managers should embrace the use of electronic mails, professionalism, welcoming complaints etc. as ingredients that lead to customer retention among small businesses. Type of Paper - Conceptual Keywords: Customers; Retention; Satisfaction and Strategy
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원종하 and 정대현. "The Effect on Entrepreneurial Characteristics of Small Business Management Performance." Asia-Pacific Journal of Business Venturing and Entrepreneurship 12, no. 1 (February 2017): 111–21. http://dx.doi.org/10.16972/apjbve.12.1.201702.111.
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Williams, Ralph I., Adam Smith, Joshua R. Aaron, Scott C. Manley, and William C. McDowell. "Small business strategic management practices and performance: A configurational approach." Economic Research-Ekonomska Istraživanja 33, no. 1 (October 18, 2019): 2378–96. http://dx.doi.org/10.1080/1331677x.2019.1677488.
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Ennew, Christine, Ken Robbie, Mike Wright, and Steve Thompson. "Small Business Entrepreneurs and Performance: Evidence from Management Buy-ins." International Small Business Journal: Researching Entrepreneurship 12, no. 4 (July 1994): 28–44. http://dx.doi.org/10.1177/0266242694124002.
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Owualah, S. I. "Small Business Loan Decisions: A Survey of Criteria in Japan and Nigeria." International Small Business Journal: Researching Entrepreneurship 7, no. 1 (October 1988): 29–42. http://dx.doi.org/10.1177/026624268800700102.
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Adegbuyi, Omotayo Adeniyi, F. A. Akinyele, and S. T. Akinyele. "Effect of Social Media Marketing on Small Scale Business Performance in Ota-Metropolis, Nigeria." International Journal of Social Sciences and Management 2, no. 3 (July 25, 2015): 275–83. http://dx.doi.org/10.3126/ijssm.v2i3.12721.
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The purpose of this study is to examine the effect of social media marketing on small scale business performance. In today’s social media driven environment, it is essential that small businesses understand facebook, twitter, and the strategies behind using social media for growing their business. Unfortunately, many small businesses do not have a strategy when they begin using social media. The objectives of this study include the following: to determine how effective employee training about social media of small to medium enterprises has increase brand awareness, to examine how employee participation in SME’s operation has increase sales, to identify how continuous improvement of SME’s strategies has improve customer service, and to examine how managerial commitment of SME’s has increase the implementation of social media campaigns. One hundred and fifty copies of questionnaire were administered to owner-managers and employees of selected SME’s in Ota Metropolis of which one hundred and thirty five of the questionnaires were returned completely filled and fifteen were not returned. Four hypotheses were formulated from the structure of the research questions, ANOVA, Correlation and other statistical tools were used in testing these hypotheses. A descriptive approach is presented, followed by an in-depth structured questionnaire with the small business owners. The study reveals the different strategies the owner uses to build and maintain relationships with consumers and the study concludes with important implications for small businesses. Networking and creating relationships with other businesses, increases brand exposure. By promoting another business or their product, they may promote yours. Engaging others makes your business visible to their audience and has the potential to reach hundreds or thousands of consumers. Focusing more on relationships than sales, increases sales. Social media provides businesses the opportunity to engage their audience on many different levels, including personal. In the beginning, it is important for a business to focus on creating relationships with consumers. An owner can show interest in its audience by commenting on individual’s posts or asking questions. Doing so also exposes the business to friends of fans and followers, increasing the business’s reach. Int. J. Soc. Sci. Manage. Vol-2, issue-3: 275-283 DOI: http://dx.doi.org/10.3126/ijssm.v2i3.12721
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Olubukola Otekunrin, Adegbola, Gabriel Damilola Fagboro, Tony Ikechukwu Nwanji, Festus Femi Asamu, Babatunde Oluseyi Ajiboye, and Adebanjo Jospeh Falaye. "Performance of deposit money banks and liquidity management in Nigeria." Banks and Bank Systems 14, no. 3 (October 1, 2019): 152–61. http://dx.doi.org/10.21511/bbs.14(3).2019.13.
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This study examined the performance of selected quoted deposit banks of Nigeria and liquidity management. Secondary data used was extracted from the financial statements of 15 money deposit banks out of population of 17 deposit money banks on the Nigerian Stock Exchange (NSE) for 2012–2017 (six years). The descriptive research design was used. The data collected was analyzed using ordinary least square method (OLS). Liquidity management was measured using capital ratio (CTR), current ratio (CR) and cash ratio (CSR), while performance was measured using return on assets (ROA). Based on the results of the study, liquidity management proxied by capital ratio, current ratio and cash ratio and performance of the firm proxied by return on assets are positively related. The result shows that liquidity management is an essential factor in business operations and consequently leads to business profitability. Hence proper liquidity management helps solve the agency theory problem of agency costs that arise when control of companies is separated from the ownership, whereby managers are able to employ the firm’s resources for personal gains instead of maximizing the value of the firm or the shareholders’ wealth. The value of the firm and the shareholders’ wealth can be maximized through the firm’s profitability via effective and efficient liquidity management.
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Yusuf, Bushira Mohammed, and Sylvester Abomeh Ofobruku. "Effect of Knowledge Transfer on Employees' Performance in Selected Small Business in Asaba, Nigeria." Oman Chapter of Arabian Journal of Business and Management Review 6, no. 2 (September 2016): 1–13. http://dx.doi.org/10.12816/0033270.
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