STRATEGIC ANALYSIS AND ENTREPRENEURIAL THINKING: EXPERIENCE FROM SMEs IN LAGOS STATE

Rabiu Onaolapo Olojede (PhD), Rahmo Olawale Saka (PhD)

Abstract


This study x-rayed the link between strategic analysis and entrepreneurial thinking, experience from selected SMEs in Lagos State. The purpose of the study was to examine the effects of strategic analysis on entrepreneurial thinking of SMEs in Lagos State, Nigeria. To achieve this objective, a survey research design was employed. The population of study was 8395 registered SMEs in Lagos State. A sample size of three hundred and eighty two (382) were gotten using Taro Yamani sample size determination method. A questionnaire was developed and randomly distributed among the 382 selected SMEs Managers in Lagos, out of which 347 respondents returned their questionnaire. The data generated were analyzed with regression analysis. The study revealed that organization core competence influences entrepreneurial creativity, availability of resources do significantly affect entrepreneur risk-taking and that external environment do influence opportunity recognition among SMEs in Lagos State. The study recommended that SMEs managers and owners were to take strategic analysis serious and ensure that it is conducted regularly in order to enhance the organisational capabilities through creativity, better risk taking and opportunities recognition in the industry where the SMEs operates.


Keywords


strategic analysis, entrepreneurial thinking, SMEs, environment, creativity

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