Effect of Strategic Management on the Development of Entrepreneurial Competence in Nigeria: A Perspective from Selected Small and Medium Enterprises (SMEs)

Abstract

The istudy iseeks ito iassess ithe ieffect iof iStrategic iManagement ion ithe idevelopment iof ientrepreneur iCompetence iin iNigeria iusing isome iselected iSmall iand iMedium iScale iEnterprises i(SMEs) iin ithe iNigeria iCapital iTerritory, iAbuja. .i Aitotal iof i120 icopies iof ithe iquestionnaire iwere idistributed ito irespondents iandia itotal iof i107 iowners/managers icompleted ithe iquestionnaire. The iquantitative imethod iand idescriptive isurvey idesign iwere iadopted ifor ithe istudy iand iquestionnaire iwas iused ias ithe imeasuring iinstrument.iThe iinferential istatistics-sample iregression itechnique iwas iused ifor idata ianalysis iusing ithe iStatistical iPackage ifor ithe iSocial iSciences i(SPSS), iversion i23.The iresults ishowed ithat iwhen iSMEs iare iable ito iimplement isuccessfully iformulated imanagement istrategies, ithey iwould iincrease itheir itransaction ivolumes iand iconsequently itheir imarket ishares.The study alsoirevealed ithat imanagement ican imake iuse iof idifferent istrategies iand ipolicies ito iimprove iSMEs iwork isettings iand iperformance, ibut idifferent istrategies iand ipolicies iwould ihave idifferent iperformance iimpact ion idiverse iSMEs. The study irecommends ithat ientrepreneurs/managers iof iSMEs imust iadapt itheir istructures irapidly and ievolve istrategies ito reflect ichanging ienvironments ifor ibetter iSMEs iperformance.