Managerial Roles and Competitive Advantage: SMEs, Perspective from Lagos State Nigeria (Published)
The operation of small and medium sized enterprises (SMEs) has awakened the interest of experts globally due to the varied challenges from low market share, poor sales growth, and dwindling profit. These have made them less competitive, market/product failure, and sub-optimal performance, and at times closures. Hence, this study investigated the effect of managerial roles on competitive advantage of SMEs in Lagos State Nigeria. Cross sectional survey research design was adopted using structured questionnaire. The target population comprised 460 owner- managers of the selected SMEs in manufacturing, real estate, agricultural and services sector in the five main divisions of the State (Ikeja, Badagry, Ikorodu, Lagos Island, Epe). Multistage sampling technique was used. Pilot study was carried out to establish the validity and reliability of the research instrument. Cronbach’s Alpha coefficients for the constructs ranged from 0.790 and 0.946. Data were analyzed using descriptive and inferential statistics. Statistically and significant relationship was established between managerial roles and competitive advantage with adjusted R2 0.61, F-stat (4,450)=183.13, p<0.05. In addition, marketing (β = 0.529, t = 8.523, p<0.05), people management (β = 0.610, t = 13.055, p<0.05) significant affected competitive advantage while communication and negotiation exhibited insignificant effect on competitive advantage of SMEs in Lagos State. This study recommended that SMEs should actively invest in marketing and human resources to ensure competitive advantage.
Keywords: Competitive Advantage, Managerial roles, Marketing, SMEs, people management
ASSESSING THE EFFECT OF ORGANIZATIONAL AND MARKETING INNOVATIONS ON MEDIUM SCALE FOOD WHOLESALE MARKETING FIRM ABIA STATE, NIGERIA (Published)
The study assessed the effect of organizational and marketing innovations on selected medium scale food wholesale marketing firms in Abia State, Nigeria. The study focused on medium scale flour food wholesale marketing firms. The study employed a Yaro Yamen sample size estimation method to cull out 50 firms from the entire sample frame. These firms were randomly selected for the studies of various variables of interest. Data were gotten from respondents via questionnaire. The data analyses were carried out with descriptive statistics, income statement analysis, probit and multiple regression analyses. The study showed that the majority of flour food wholesale marketing firms in the study area were established between the periods of 6-10 years ago. The highest number of employee of the food wholesale marketing firms fall within the period of 11-20. The result also indicates that sole proprietorship were the highest ownership structure evidenced from the study. The greater number of the firms’ employee skills were semi-skilled. The firm’s major source of capital was gotten through equity source of finance. The dominant organization’s innovation strategies most adopted by the food wholesale firms were price strategy, product approaches, continuous and improvement aspect of innovation. The study however ensured a high quality management which confirmed a positive relationship between profitability and firms’ growth. This attests to a signal of efficiency in the firms’ management. The factors affecting organizational and marketing innovation strategies had significant relationships among the models respectively. Further, the effect of organizational and marketing innovation on medium scale flour food wholesale marketing firms performance and efficiency plausible as firm gross margin indicated sound profitability. Thus, there is the need for medium scale flour food wholesale marketing firms to employ the employ organizational and marketing innovation strategies complementarily in responding to the ever changing market needs of the food industry.
Keywords: Firm, Food, Innovation, Marketing, Medium, Organizational, Wholesale