Strategic Management and Performance of Small and Medium Scale Enterprises (SMES) in Akwa Ibom State

This study focused on the influence of strategic management on the performance of SMEs in AkwaIbom State.The specific objectiveswere to examine the influence of strategy formulation, strategy implementation, strategy evaluation and control on the performance of SMEs in the State.Survey research design was adopted in the study. The study had a population of 11,990 and a sample size of 387 derived through the Taro Yamane sample size determination formula. Questionnaire was deployed as the instrument for obtaining the relevant data. Regression statistical technique was utilised for data analyses. An R2 value of 0.227 in the findings indicates that there is a significant positive influence of strategy formulation on the performance of SMEs in AkwaIbom State. Similarly, an R2 value of 0.367 indicates a significant positive influence of strategy implementation on the performance of SMEs in the State. The findings further reveals that an R2 value of 0.379 implies a significant positive influence of strategy evaluation and control on the performance of SMEs in AkwaIbom State. It was recommended that SMEs in the State should deepen and improve upon its strategy formulation process in order to improve its performance; that such SMEs should ensure that needed resources for implementation of its business plans and strategies are provided in order to improve its performance; and finally, that the SMEs should pay attention to strategy evaluation and control in order to improve upon their performance.