IJFAM

Article Details

Vol. 2 No. 1 (2020): June

Strategic Agility and Performance of Small and Medium Enterprises in the Phase of Covid-19 Pandemic

https://doi.org/10.35912/ijfam.v2i1.163
07 Jul 2020

Abstract

Purpose: This study examined the impact of strategic foresight (SF) on the competitive advantage (CA) of SMEs in Anambra State.

Research methodology: Survey research design was chosen for the work. The population was 1500, while the sample size was 306 business owners arrived at using Krejcie and Morgan formula. Split-Half technique was used in testing the reliability of the self-structured questionnaire, and the result obtained was .891. Data were analysed using Simple Regression Technique, and the hypothesis was tested at 5% level of significance.

Results: The findings revealed that SF has a relationship with CA (r = .968) while coefficient of determination (R2) indicates that a 92% change in CA is accounted for by changes in SF (R2 = .938; F = 4070.780, p-value < 0.05).

Conclusion: This study concludes that strategic foresight (SF) significantly enhances the competitive advantage (CA) of SMEs in Anambra State. A higher level of SF leads to a greater improvement in CA, helping businesses anticipate trends and stay competitive. Future research could expand to other regions to confirm these findings.

Limitations: This study is limited by scope as only SMEs in Anambra State were studied which may not be enough to make an inference.

Contributions: This study will help small and medium-sized enterprises to realize the importance of keeping them aware not only of what is happening in their business environment, but also outside of their immediate environment.

Keywords

Strategic agility Sustainability Strategic foresight Competitive advantage Coronavirus

How to Cite

Gerald, E., Obianuju, A., & Chukwunonso, N. (2020). Strategic Agility and Performance of Small and Medium Enterprises in the Phase of Covid-19 Pandemic. International Journal of Financial, Accounting, and Management, 2(1), 41–50. https://doi.org/10.35912/ijfam.v2i1.163

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Authors

1 . Emejulu Gerald
Department of Cooperative Economics and Management, Nnamdi Azikiwe University, Awka Nigeria
2 . Agbasi Obianuju
Department of Cooperative Economics and Management, Nnamdi Azikiwe University, Awka Nigeria
3 . Nosike Chukwunonso
Department of Business Administration, Nnamdi Azikiwe University, Awka Nigeria

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Vol. 2 No. 1 (2020): June
Section: Articles
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