Managerial Competencies and the Small and Medium Enterprises’ Performance in Lagos State, Nigeria

Authors

  • Maryam Adeyinka Shomoye-Olusi
  • Olufemi Olabode Olayemi
  • Patrick Sunday Okonji

Keywords:

Managerial competencies, Innovation competency, Leadership competency, Risk-taking competency, SME performance

Abstract

This study looks into how managerial skills affect the performance of SMEs (small and
medium-sized businesses) in Lagos State, Nigeria. The purpose of the study is to evaluate
how risk-taking, innovation, and leadership skills affect SME performance. The study
population consists of SMEs that are only located and operated in Lagos State, and a basic
random sampling technique was used to determine the sample size of 736. Data analysis was
conducted using Partial Least Squares Structural Equation Modelling (PLS-SEM), revealing
significant positive relationships between innovation competency (β = 0.29), leadership
competency (β = 0.34), risk-taking competency (β = 0.36), and SME performance.
Recommendations include targeted training programs for competency development,
mentorship opportunities, flexible financing solutions, and further research into additional
factors impacting SME performance in the region.

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Published

2024-06-26