Exploring the Strategies for Sustaining Small- to Medium-Scale Enterprises
General Material Designation
[Thesis]
First Statement of Responsibility
Umadia, Kingsley
Subsequent Statement of Responsibility
Kasztelnik, Karina M.
.PUBLICATION, DISTRIBUTION, ETC
Name of Publisher, Distributor, etc.
Walden University
Date of Publication, Distribution, etc.
2020
PHYSICAL DESCRIPTION
Specific Material Designation and Extent of Item
160
DISSERTATION (THESIS) NOTE
Dissertation or thesis details and type of degree
Ph.D.
Body granting the degree
Walden University
Text preceding or following the note
2020
SUMMARY OR ABSTRACT
Text of Note
The lack of development and the continued survival of small- to medium-scale enterprises (SMEs) poses a challenge to SME practices in Nigeria. Using sustainability theory, the purpose of this qualitative multiple case study was to explore the strategies that leaders use in sustaining SMEs in Lekki, Lagos, Nigeria. Ten SME leaders from the manufacturing sector, trading services, education, oil and gas service companies, and financial services sector provided comments during the interviews that addressed the research question. Data were analyzed by transcription, coding, categorizing and analysis of participants' responses using member checking. From the themes that emerged from the study, it was noted that agility and doggedness, financial planning, direct marketing and competitive advantage, information and communication technology, innovation, social media marketing and human relationship, effective customer relations, exploring adequate sources of funding, effective staff training and motivation, and servant leadership approach will contribute to sustaining a SME beyond 5 years. The implications to positive social change include SME sustainability, employment for staff, improvement of standard of living for both staff and owners, and company longevity. Other positive social changes from the study are the company's contribution to tax revenue and the improved economy of households and individuals in Lekki and Nigeria.