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" Competitive Strategies to Improve Small and Medium Enterprise Sales "
Ogunyemi, Adeola Oluwakemi
Fusch, Gene E.
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Latin Dissertation
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English
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| Record Number
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1108196
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TLpq2462125672
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| Main Entry
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Fusch, Gene E.
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Ogunyemi, Adeola Oluwakemi
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| Title & Author
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Competitive Strategies to Improve Small and Medium Enterprise Sales\ Ogunyemi, Adeola OluwakemiFusch, Gene E.
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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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D.B.A.
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| Page No
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223
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| Abstract
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Small and medium enterprises (SMEs) are the mainstay of both developed and developing countries by contributing to employment, revenue, and value added. SMEs, however, are not often able to grow because of a lack of appropriate growth strategies. Grounded in Porter’s dynamic theory of strategy, the purpose of this qualitative multiple case study was to explore strategies retail SME owners in Lagos, Nigeria, used to grow sales. The participants were a census of five retail SME business owners who successfully implemented strategies to grow sales. The data collection sources included semistructured interviews, direct observation, company documents, and reflective journals. Based on methodological triangulation and the use of thematic data analysis technique, six key themes emerged: (a) enhancing competitive advantage through the business structure; (b) distribution channels, product range, and leveraging networks; (c) human capital development; (d) turning challenges into innovation opportunities and enhancing business performance; (e) creating product awareness; and (f) using data analysis to improve decision making. A recommendation is for SME owners to exploit opportunities to be innovative by continuously offering creative and value-adding products to their customers to enhance their financial performance. The implications for positive social change include the potential to provide both existing and emerging SMEs with the strategies to increase patronage to grow their businesses, thereby contributing to the economic growth of their business, employees, local communities, and the national economy.
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African studies
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Communication
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Entrepreneurship
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Finance
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Management
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Marketing
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