Effect of Strategic Formulation on Performance of Small and Medium Enterprises in Mushin Lga of Lagos State

Student: Rosemary Chidiebere Ofochebe (Project, 2025)
Department of Business Administration
Ekiti State University, Ado-Ekiti, Ekiti State

Abstract

The study examines the effect of strategic formulation on performance of Small and medium enterprises in Mushin LGA of Lagos State while the specific objectives are to evaluate the effect of objective setting; internal analysis; external analysis and strategic choice on performance of SMEs in Mushin LGA of Lagos state. A descriptive method was employed and data presented in the form of frequencies distribution table that facilitate description and facilitation of the study findings while the inferential statistic to be employed was multiple regression analysis. The results showed that setting objective is 0.804 with t= 14.110 and (p= 0.000 < 0.05); internal analysis is 0.851 with t= 32.616 and (p= 0.000 < 0.05); external analysis is 0.760 with t= 11.724 and (p= 0.000 < 0.05) and strategic choice is 0.922 with t= 22.969 and (p= 0.000 < 0.05). The study concluded that the small and medium enterprises in Mushin Local Government area of Lagos get regular feedback also, indicate how they are performing in relation to their goals, compete with other coworkers to see who can do the best job in reaching their goals.

Keywords
effect strategic formulation performance small medium enterprises mushin lagos state
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