THE EFFECT OF PLANNING ON THE SUCCESS OF SMALL BUSINESS ENTERPRISES
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
The purpose of the study was to establish the effects of planning in the success of Small and Medium Enterprises (SMEs) in Nigeria.
The study showed that that a company’s mission and vision are crucial elements of strategic management in the organization, and business vision and growth are reinforced by strategic focus on market growth and profits. The study revealed that strategic planning has helped owners/ managers establish benchmarks or milestones that show them whether or not they are meeting their goals and objectives, and SME owners/ managers include employees in the decision-making plan of their business. SME owners/ managers have developed a decision-making routine that simplifies the process of decision-making for them, and they have improved their level of understanding of competitors strategies through strategic planning.
The study revealed that the nature of SME business requires specific, predetermined behavior by means of formal direction and control to be successful, and strategic planning structures and systems in the business contribute towards building SME organizational capabilities that drive performance. The study indicated that SME owners/ managers are keen on monitoring and identifying trends or cycles of some kind in order to find patterns of the market trend, and entrepreneurs monitor their environment by collecting information in all environmental sectors, sort out relevant information and adjust their business to meet future forecasts. The study showed that, the existence of the support programmes that provide SME business with a back-up plan has ensured that SME businesses are strengthened and have realized growth, and SME businesses have an advantage in terms of making quick decisions and the willingness to take risks.
Related Project Materials
OPTIMUM DESIGN OF THE THICKNESS OF CARBON FIBRE REINFORCED POLYMER MATERIAL (CFRP) REQUIRED FOR STRENGTHENING OF DEFICIENT REINFORCED CONCRETE BEAM
Abstract
A Carbon fiber-reinforced polymer (CFRP) has emerged as promising material for rehabilitation of existing reinforced concrete st...
STATISTICAL ANALYSIS OF INCIDENCE OF HIV/AIDS PANDEMIC IN NIGERIA FROM 1996 – 2005
ABSTRACT
The cam of this study was to examine the incidence of HIV/AIDS in Nigeria. This study started with...
EFFECT OF POOR STUDY HABITS ON STUDENTS’ ACADEMIC PERFORMANCE
ABSTRACT
The Study habits of individual going through educational process are what will determine the study skills such...
THE IMPACT OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) ON NIGERIA’S PUBLIC ACADEMIC LIBRARIES (A CASE STUDY OF UNIVERSITY OF UYO)
ABSTRACT
Information and Communication Technology (ICT) has brought unprecedented changes and transformation to academic...
A CRITICAL EXAMINATION OF VIOLENT FILM AND ITS EFFECTS ON NIGERIA FEMALE CHILDREN
EXCERPT FROM THE STUDY
The goal of this study was to examine the effect of violent film on Nigerian female children in O...
BACTERIOLOGICAL QUALITY OF FROZEN CHICKEN SOLD IN GWAGWALADA MARKET
ABSTRACT
Twenty samples of frozen chicken from five different sellers were analyzed to determine their bacteriological l...
PRAGMATIC ANALYSIS OF SELECTED POLITICAL SPEECHES OF PRESIDENT MUHAMMADU BUHARI
ABSTRACT
This study was undertaken to identify the pragmatic acts of locution, illocution and perlocution of President Muhammadu Buhari&r...
COMPARATIVE ANALYSIS OF SOURCES OF WATER AND WATER BORNE DISEASES
Background to the Study
Water is an essential substance in human life as it is used for various purpose...
ROUTE SURVEY OF ROAD AND PAVEMENT DESIGN (REHABILITATION/MODERNIZATION) CASE STUDY: ROAD LINKING FEDERAL SECRETARIAT INDUSTRIAL CENTRE AND MASS COMMUNICATION DEPARTMENT (IMT CAMPUS III), ENUGU
ABSTRACT
The study cover a view and a detailed explanation of the modification require...
PROBLEMS OF TEACHING AGRICULTURAL SCIENCE IN JUNIOR SECTIONS OF SECONDARY SCHOOLS
Abstract
Recently various members of the society have raised an alarm on the low standard of education in Nigeria,...
