<abstract xmlns="http://www.w3.org/1999/xhtml"><p>Small and medium enterprises (SMEs) have been considered as one of the engines of economic growth, sustainability, and industrial development of a nation, however, the survival rate of SMEs in Nigeria has been seriously affected by the volatile environment in which they operate. The use of survival strategies has also been one of the major challenges facing the business since most people believe that strategies are only meant for large and multinational companies. This study, therefore, examines the survival strategies and sustainability of small and medium enterprises in a volatile business environment using a quantitative approach. The data were administered through a questionnaire to 350 respondents from small and medium enterprises in Lagos State, Nigeria. The questionnaire was analyzed with the use of the Structural Equation Model. The results reveal that there is a significant and positive relationship between survival strategies and sustainability of small and medium scale enterprises in Nigeria.</p></abstract>

Small and medium enterprises (SMEs) have been considered as one of the engines of economic growth, sustainability, and industrial development of a nation, however, the survival rate of SMEs in Nigeria has been seriously affected by the volatile environment in which they operate. The use of survival strategies has also been one of the major challenges facing the business since most people believe that strategies are only meant for large and multinational companies. This study, therefore, examines the survival strategies and sustainability of small and medium enterprises in a volatile business environment using a quantitative approach. The data were administered through a questionnaire to 350 respondents from small and medium enterprises in Lagos State, Nigeria. The questionnaire was analyzed with the use of the Structural Equation Model. The results reveal that there is a significant and positive relationship between survival strategies and sustainability of small and medium scale enterprises in Nigeria.

Survival Strategies and Sustainability of Small and Medium Enterprises in a Volatile Environment

Management Dynamics in the Knowledge Economy

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Small and medium enterprises (SMEs) have been considered as one of the engines of economic growth, sustainability, and industrial development of a nation,...

Survival Strategies and Sustainability of Small and Medium Enterprises in a Volatile Environment

Data publikacji: 31 mar 2020

Zakres stron: 553 - 569

Otrzymano: 21 wrz 2019

Przyjęty: 17 gru 2019

DOI: https://doi.org/10.25019/mdke/7.4.07

Słowa kluczowe
survival strategy, sustainability, small and medium enterprises, volatile business environment

© 2019 Sunday Abayomi Adebisi et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Survival Strategies and Sustainability of Small and Medium Enterprises in a Volatile Environment

Data publikacji: 31 mar 2020

Zakres stron: 553 - 569

Otrzymano: 21 wrz 2019

Przyjęty: 17 gru 2019

DOI: https://doi.org/10.25019/mdke/7.4.07

Słowa kluczowesurvival strategy, sustainability, small and medium enterprises, volatile business environment

© 2019 Sunday Abayomi Adebisi et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Słowa kluczowe
survival strategy, sustainability, small and medium enterprises, volatile business environment