A Critical Assessment of the Influence of Strategic Planning on the Success of SMES in Enugu State

A Critical Assessment of the Influence of Strategic Planning on the Success of SMES in Enugu State  CHAPTER ONE INTRODUCTION 1.1    BACKGROUND OF THE STUDY Small and medium-sized firms (SMEs) play an important economic role in Nigeria, and Nigerian economic planners have acknowledged their relevance in economic growth (Berry 1998). Because micro and small size firms are accelerators for socioeconomic growth, the government has prioritized SMEs as a means of fostering larger engagement in the private sector. SMEs are a means for achieving national microeconomic goals such as job creation at a low investment cost and apprenticeship training expansion (Balasundaram 2009). In Nigeria, SMEs employ 64 percent of the labor force and generate more than 18 percent of the country's GDP (GDP). This sector accounts for more than 85 percent of all...

A Critical Examination of Strategic Planning and Its Impact on the Performance of Manufacturing Firms in Ogun State.

A Critical Examination of Strategic Planning and Its Impact on the Performance of Manufacturing Firms in Ogun State. CHAPTER ONE INTRODUCTION 1.1 Background Of The Study Globally, the business environment has changed rapidly as the market environment has gotten more competitive across industries. The growth of information technology, which has resulted in the use of computers, the internet, and social networks by businesses to conduct business operations such as product marketing and advertising, is one of the key drivers to this rapid transformation of business environment (Afkinlabi, 2010). Hence, in order for firms to compete profitably in today's marketplace, rational and dynamic strategies are essential. The strategies according to Floyd(2004), should be directed at improving product quality and cost, as well as the form of the business...

An Evaluation Of Strategic Planning And Its Influence In Enhancing The Performance Of Commercial Banks In Nigeria

CHAPTER ONE INTRODUCTION 1.1 Background Of The Study Most organizations' operational environment in the contemporary world as observed by Godwin(2011), have been tense as new competitors enter the market on a regular basis. Because of the changing environment, management procedures have become more complicated. Specifically, Governments' roles as regulators and competitors in the free enterprise system as claimed by Anyanwa(2005), alongside increasing scarce resources, customer dynamic preferences, political priorities, and technological developments have all contributed to the complexity of managerial roles in organizations. These internal and remote external environments in the opinion of Daft(2008), have an impact on a firm's growth and profitability. Hence, As a result, strategic planning is necessary for business organizations to thrive...
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