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" Exploring the Strategies for Sustaining Small- to Medium-Scale Enterprises "
Umadia, Kingsley
Kasztelnik, Karina M.
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Latin Dissertation
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| Language of Document
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English
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| Record Number
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1107664
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| Doc. No
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TLpq2453022715
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| Main Entry
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Kasztelnik, Karina M.
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Umadia, Kingsley
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| Title & Author
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Exploring the Strategies for Sustaining Small- to Medium-Scale Enterprises\ Umadia, KingsleyKasztelnik, Karina M.
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| College
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Walden University
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| Date
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2020
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| student score
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2020
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| Degree
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Ph.D.
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| Page No
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160
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| Abstract
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The lack of development and the continued survival of small- to medium-scale enterprises (SMEs) poses a challenge to SME practices in Nigeria. Using sustainability theory, the purpose of this qualitative multiple case study was to explore the strategies that leaders use in sustaining SMEs in Lekki, Lagos, Nigeria. Ten SME leaders from the manufacturing sector, trading services, education, oil and gas service companies, and financial services sector provided comments during the interviews that addressed the research question. Data were analyzed by transcription, coding, categorizing and analysis of participants’ responses using member checking. From the themes that emerged from the study, it was noted that agility and doggedness, financial planning, direct marketing and competitive advantage, information and communication technology, innovation, social media marketing and human relationship, effective customer relations, exploring adequate sources of funding, effective staff training and motivation, and servant leadership approach will contribute to sustaining a SME beyond 5 years. The implications to positive social change include SME sustainability, employment for staff, improvement of standard of living for both staff and owners, and company longevity. Other positive social changes from the study are the company’s contribution to tax revenue and the improved economy of households and individuals in Lekki and Nigeria.
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African studies
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Entrepreneurship
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Management
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Marketing
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Mass communications
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Organizational behavior
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