STRATEGIC AGILITY AND PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN POST COVID 19 PANDEMICS IN ANAMBRA STATE

Abstract

The adverse socio-economic influence of covid-19 across the globe which is characterized by several preventive measures has caused great loss to businesses and industries in many countries and states as well. The general objective of the study is to determine the
relationship between strategic agility and performance of small and medium enterprises in post covid 19 pandemics in Anambra State and the specific objectives are to; ascertain the type of relationship that exists between strategic sensitivity and creativity of SMEs in post covid 19 pandemics and to determine the extent of relationship that exists between resources fluidity and competitive advantage of SMEs in post covid 19 pandemics in Anambra State. The study adopted the survey research design, the population of the study consists of managers of 2,502 SMEs registered with Anambra State Ministry of Trade and Commerce, Market and Wealth Creation. A sample size of 345 was determined using Taro Yamane formula. Content validity and Cronbach’s alpha reliability technique was adopted for the study .Spearman Rank Order correlation coefficient on SPSS version 22 was used to test the research hypotheses. The findings reveal a significant positive relationship between strategic sensitivity and creativity of SMEs in post covid 19 pandemics and a
significant positive relationship between resources fluidity and competitive advantage of SMEs in post covid 19 pandemics in Anambra State. Based on the findings of the study, the study concludes that there exists a positive relationship between strategic agility and performance of SMEs in post covid 19 pandemics in Anambra State and recommends that SME owners need to be alert for likely changes in the business environment that might impact their businesses and to make necessary adjustments for it. Organizational policy maker, owners and managers should employ both strategic agility and sensitivity in their business activities, processes, decisions and direction so as to achieve superior competitive advantage and performance.