Browsing by Author "Adu-Amankwaah, Obed"
Now showing 1 - 1 of 1
Results Per Page
Sort Options
- ItemStrategic planning, social network relationship, and performance of small and large firms in Ghana(September, 2016) Adu-Amankwaah, ObedThe objective of the study was to evaluate the strategic planning, social network relationship, and performance of small and large firms in Ghana. In an emerging economy it has been identified that performance of firms lies also on the social Networking Relationship, (Acquaah, 2007; Li et al., 2008; Li and Zhang, 2007; Peng and Luo, 2000). Semi-structured questionnaire as a tool was used in the collection of data from Small and Large firms answered by their managers/owners/ administrators yielding to a total of 300 questionnaire. In the measure and analyzing of the variables the measure through Confirmatory Factor Analysis was used in measuring the effect of the variables of strategic planning, Social Network Relationship to the performance of Small and Large firms, and to determine the level of moderation. The strategic planning in the area of goal setting, analysis and scanning was identified as moderately accurate in the small and large firms in Ghana. The extent to which top managers of small and large firms in Ghana develop and use personal and social networking relationships for the past three years was observed to be frequently used. Social networking relationship also has significant effect on firm performance of small and large firms in Ghana. The effect of the small and large firm strategic planning on firm performance was moderated by social networking relationship but statistically insignificant. In conclusion, higher level of strategic planning and social networking relationship conditionally stimulated operational and financial performance of small and large firms in Ghana. The managers of small and large firms should develop strategic plans for their business activities. This can be achieved through formulation of a mission statement of the firm, establishing objectives, crafting and implementing the strategies, and monitoring and controlling the progress in strategy implementation. Personal and social networking relations with communities’ stakeholders, government and business should be enhanced by managers of small and large firms in Ghana.