Survival Strategies and Sustainability of Small and Medium Enterprises in a Volatile Environment
Survival Strategies and Sustainability of Small and Medium Enterprises in a Volatile Environment
Author(s): Sunday Abayomi Adebisi, Nimota Adefunke BakareSubject(s): Business Economy / Management, Energy and Environmental Studies, Sociology, Accounting - Business Administration, Marketing / Advertising
Published by: Facultatea de Management – Scoala Nationala de Studii Politice si Administrative (SNSPA)
Keywords: survival strategy; sustainability; small and medium enterprises; volatile business environment;
Summary/Abstract: Small and medium enterprises (SMEs) have been considered as one of the engines of economic growth, sustainability, and industrial development of a nation, however, the survival rate of SMEs in Nigeria has been seriously affected by the volatile environment in which they operate. The use of survival strategies has also been one of the major challenges facing the business since most people believe that strategies are only meant for large and multinational companies. This study, therefore, examines the survival strategies and sustainability of small and medium enterprises in a volatile business environment using a quantitative approach. The data were administered through a questionnaire to 350 respondents from small and medium enterprises in Lagos State, Nigeria. The questionnaire was analyzed with the use of the Structural Equation Model. The results reveal that there is a significant and positive relationship between survival strategies and sustainability of small and medium scale enterprises in Nigeria.
Journal: Management Dynamics in the Knowledge Economy
- Issue Year: 7/2019
- Issue No: 4
- Page Range: 553-569
- Page Count: 17
- Language: English