STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA

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dc.contributor.authorOlumoh, Yusuf Alabi
dc.date.accessioned2024-07-18T18:58:39Z
dc.date.available2024-07-18T18:58:39Z
dc.date.issued2024-06
dc.descriptionStrategic management controls in SMEs involve planning, implementing, and evaluating business strategies to enhance operational performance. Effective controls ensure alignment with organizational goals, optimizing resource use, and adapting to market changes. By monitoring and adjusting strategic initiatives, SMEs can improve efficiency, competitiveness, and profitability. This structured approach fosters informed decision-making, minimizes risks, and drives sustainable growth, ultimately enhancing overall operational performance.
dc.description.abstractSmall and Medium Enterprises (SMEs) in South-West Nigeria often face performance challenges due to inadequate strategic formulation, ineffective implementation, and insufficient evaluation, leading to resource underutilization and growth obstacles. This study investigated the impact of strategic management controls on SMEs' operational performance in the region. This study adopted a quantitative survey research design and collected primary data from 399 SMEs in South-West, Nigeria, selected through stratified random sampling. Partial Least Squares Structural Equation Modeling was used for data analysis. The findings revealed a significant positive relationship between strategic planning and operational performance (β = 0.233, p = 0.010), indicating the importance of strategic planning in enhancing performance. Additionally, strategic planning had a substantial impact on operational performance (β = 0.373, p = 0.000), demonstrating its effectiveness in driving improvements. Strategic evaluation also had a positive and significant influence on operational performance (β = 0.243, p = 0.000), highlighting its role in performance enhancement. The study concluded that strategic management controls are strong predictors of SMEs' operational performance. The study recommended that SMEs focus on improving their strategic planning processes and invest in robust evaluation processes to assess the effectiveness of implemented strategies and make informed decisions for future endeavors.
dc.description.sponsorshipSelf-Sponsored
dc.identifier.citationOlumoh, Y. A. (2024). Strategic management controls and operational performance of small and medium enterprises in south-west Nigeria. Malete Journal of Accounting and Finance, 4 (2), 176-190. https://majaf.com.ng/index.php/majaf/article/download/149/102
dc.identifier.issn2735-9603
dc.identifier.urihttps://kwasuspace.kwasu.edu.ng/handle/123456789/1598
dc.language.isoen
dc.publisherMALETE JOURNAL OF ACCOUNTING AND FINANCE, Department of Accounting and Finance, Faculty of Management and Social Sciences, Kwara State University, Malete
dc.relation.ispartofseries4; 2
dc.titleSTRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA
dc.typeArticle
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