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IMPACT OF STRATEGIC MANAGEMENT PRACTICES ON THE BUSINESS PERFORMANCE OF SMES IN PAKISTAN

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17 Pages : 227 - 238

http://dx.doi.org/10.31703/ger.2021(VI-I).17      10.31703/ger.2021(VI-I).17      Published : Mar 2021

Impact of Strategic Management Practices on the Business Performance of SMEs in Pakistan

Abstract

    Small and Medium Enterprises (SMEs) in Pakistan are playing a significant role in the economic development, and performance of these SMEs is very crucial to the country. Therefore, the aim of current research is to check the significance of strategic management practices in the SMEs operating in the South Punjab of Pakistan. Three variables were created from the existing literature (strategy development,strategy implementation, and strategy evaluation). Convenient sampling has been used to collect primary data through self-administrative questionnaires. By exercising different Inferential Statistical Techniques, this paper has found a significant link between all the strategic management functions and business performance of selected SMEs in the South Punjab of Pakistan.For this purpose, IBM SPSS Statistics software has been applied.This research has recommended that owners as well as management of SMEs should regularly evaluate and take corrective measures on schedule and the progress of various strategies.

    Strategic Management, Small and Medium Enterprises, Business Performance

    (1) Muhammad Ishtiaq
    Assistant Professor, Lyallpur Business School, Government College University, Faisalabad, Punjab, Pakistan
    (2) Muhammad Shahid Tufai
    Professor, UE Business School, Division of Management and Administrative Sciences, University of Education, Lahore, Punjab, Pakistan
    (3) Anjum Hussain
    MS Scholar, Lyallpur Business School, Government College University, Faisalabad, Punjab, Pakistan.
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Cite this article

APA

    APA : Ishtiaq, M., Tufai, M. S., & Hussain, A. (2021). Impact of Strategic Management Practices on the Business Performance of SMEs in Pakistan. Global Economics Review, VI(I), 227 - 238. https://doi.org/10.31703/ger.2021(VI-I).17

CHICAGO

    CHICAGO : Ishtiaq, Muhammad, Muhammad Shahid Tufai, and Anjum Hussain. 2021. "Impact of Strategic Management Practices on the Business Performance of SMEs in Pakistan." Global Economics Review, VI (I): 227 - 238 doi: 10.31703/ger.2021(VI-I).17

HARVARD

    HARVARD : ISHTIAQ, M., TUFAI, M. S. & HUSSAIN, A. 2021. Impact of Strategic Management Practices on the Business Performance of SMEs in Pakistan. Global Economics Review, VI, 227 - 238.

MHRA

    MHRA : Ishtiaq, Muhammad, Muhammad Shahid Tufai, and Anjum Hussain. 2021. "Impact of Strategic Management Practices on the Business Performance of SMEs in Pakistan." Global Economics Review, VI: 227 - 238

MLA

    MLA : Ishtiaq, Muhammad, Muhammad Shahid Tufai, and Anjum Hussain. "Impact of Strategic Management Practices on the Business Performance of SMEs in Pakistan." Global Economics Review, VI.I (2021): 227 - 238 Print.

OXFORD

    OXFORD : Ishtiaq, Muhammad, Tufai, Muhammad Shahid, and Hussain, Anjum (2021), "Impact of Strategic Management Practices on the Business Performance of SMEs in Pakistan", Global Economics Review, VI (I), 227 - 238

TURABIAN

    TURABIAN : Ishtiaq, Muhammad, Muhammad Shahid Tufai, and Anjum Hussain. "Impact of Strategic Management Practices on the Business Performance of SMEs in Pakistan." Global Economics Review VI, no. I (2021): 227 - 238. https://doi.org/10.31703/ger.2021(VI-I).17