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|Title: ||The influence of strategic management on the performance of small and medium scale enterprises in Ghana (A case study of selected SME’s in the Kumasi Metropolis)|
|Authors: ||Osei, Clement Owusu|
|Issue Date: ||14-Oct-2016|
|Abstract: ||The important role of SME’s in the development of a country’s economy cannot be overemphasized. SME’s have been identified to have the largest percentage of registered companies in Ghana and contribute significantly to GDP. Previous research has also found that the use of strategic management as a management tool in smaller businesses, such as SME's, is being neglected by the managers/owners of SME's as they do not have adequate managerial experience in the functional business areas and these factors have been assumed to lead to the gradual declines in most SME’s. The implementation of strategic management practises has yielded considerable results for large companies and businesses in terms of profitability. This research aimed at identifying the extent to which SME’s practice long term formal planning in their businesses to enhance their financial performance and business sustainability.
The target for the research was on selected SME’s in the Kumasi metropolis. Quota and convenience sampling techniques were used to select the 178 respondents. Predictive Analytical Software was used to analyse the responses received. Strategic management was identified as important for successful business performance; however the adoption of strategic management in business operations wasn’t identified as a precondition for improved financial performance. Furthermore the study also revealed a causality relationship running from written strategic plan to effective implementation in businesses. The study recommended that strategic planning activities shouldn’t be separated from management of the business operations. Owners-managers should show commitment to strategic plans designed since it is not only enough to have a strategic plan without committing to it. This would go a long way to guarantee a positive impact of strategic planning on the performance of Small and Medium scale Enterprises.|
|Description: ||A thesis submitted to the School of Business, Department of Marketing and Corporate Strategy, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of Master of Business Administration (Strategic Management and Business Consulting), 2015|
|Appears in Collections:||College of Arts and Social Sciences|
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