Strategic Management of Small and Medium Scale Enterprises (SMEs) Demographic Profile: A Factor Analytic Approach
Ogunsiji, A. Sola (PhD)
The ubiquitous existence of Small and Medium Scale Enterprises in all forms of economy led the study to examine the significance of the diverse impact of demographic factors particularly gender and education on the entrepreneurs‟ motive on the one hand and that of environment on SMEs‟ performance on the other. It surveyed a total of 280 respondent SMEs selected through categorized randomization to cover five major industrial sectors (Manufacturing, Agriculture, Service, Trade / Merchandising and Craft) with the objective of identifying the cause(s) of its abysmal failure to perform up to expectation. It traced the poor productivity cycle to a number of causative factors – organizational and environmental voids which did not favor the development of indigenous artisan ingenuity, global mercantilism / industrialism notwithstanding. The study further found out that the existence of political disputations and policy somersault had caused many entrepreneurs to lose focus such that the decision making ability had become frustrated. The study is therefore of the opinion that the wrong context and restrictive environment in which most SMEs‟ operations were carried out should be largely mitigated or if possible be eliminated completely.
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