Strategic Management and Entrepreneurial Engagement as Factors for Value Creation among University Graduates Operating SMEs

Abstract

The study examined strategic management and entrepreneurial engagement as factors for value creation among university graduates operating SMEs. Two research questions and four hypotheses guided the study. A descriptive research design was used. The population of the study comprised 182 Business Education postgraduate students in Olabisi Onabanjo University, Ago-Iwoye and Tai Solarin University of Education, Ijagun, Ogun State. A total of 150 Business Education postgraduate students of selected universities were chosen as the sample size using purposive and stratified sampling techniques. The study used a self-developed instrument tagged: Strategic Management, Entrepreneurial Engagement and Value Creation Questionnaire (SMEEVCQ) for data collection. This questionnaire has a reliability coefficient (r = .85). The Pearson Product Correlation Questionnaire (PPMC) was used to test hypotheses 1 and 2, while hypotheses 3 and 4 were tested using regression analysis. The findings revealed that there was a significant composite contribution of independent variables on the dependent variable; R = 0.74, p < .05, and that about 70% variation in value creation was accounted for by explanatory variables (strategic management and entrepreneurial engagement. There was a relative influence of strategic management (β = .4996, t = 3.683, p <.05) and entrepreneurial engagement (β = .43999, t = 2.111, p <.05) on value creation among university graduates who operate SMEs. It was recommended that SMEs need to be more engaged in entrepreneurship activities by developing more intensity in lucrative business ideas for their survival in a competitive environment