Abstract:
The aim of the research is to analyse and evaluate strategic planning as an
essential management tool for the small and medium enterprises (SME); with a view
to help them achieve a more predictable and stable growth over a long-term. This
study was motivated by the incessant failure and eventual collapse of small and
medium enterprises in Nigeria against the backdrop of contributing to the
development and economic recovery of the nation.
This research became relevant because of the inefficient management styles
of owners and managers of small and medium business concerns, which ultimately
affected the performance and contribution of these enterprises to the consumers,
shareholders, stakeholders and the economy in general.
To understand the analysis, primary investigation were carried out at the
Federal Capital Territory (FCT). The choice of Federal Capital Territory was
necessitated by the fact that FCT is the seat of government and the capital of
Nigeria. And since policies are made here, its business atmosphere can be used in
drawing conclusions, on what applies in other cities and towns in Nigeria.
In the process of the study, a sample size of 140 respondents were used, 50
for the staff and 90 for the users and public. Questionnaires were completed
through physical observation and personal interview granted by conoemed
enterprise management staff with the aim of eliciting necessary data and
information. For a computable statistical analysis, percentages of tables were used
to evaluate responses. And Chi-squared was also used to relate responses with
hypothesis.
