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Competitive Strategy Orientations of Small and Medium Business Owners and their Performance Impacts: The Case of Paint Manufacturing SMEs in South-Western Nigeria

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  • Ade Oyedijo

Abstract

This paper outlines the results of a study of the competitive strategy orientations of 92 small and medium sized paint manufacturing enterprises in Southwestern Nigeria. Three sets of paint manufacturing SMEs which had substantially divergent competitive strategies, i.e. Differentiation (28) Low cost (33) and mixed strategies (31) were identified and compared using data generated through a survey. The data analysis using correlation matrix and simple linear regression reveals a highly significant impact of the three strategies on the performance of the sampled firms. Results of the analysis revealed a significant difference between the performance of companies that used differentiation and low cost as standalone strategies and the performance of firms that used the two strategies together. Those using mixed strategies performed better than those using stand alone strategies on all the three performance parameters of total income/revenue growth, sales growth and customer complaints. A possible explanation for this result is the flexibility which the combined use of the two strategies introduces into the operation of the firms that adopted this dual approach.

Suggested Citation

  • Ade Oyedijo, 2012. "Competitive Strategy Orientations of Small and Medium Business Owners and their Performance Impacts: The Case of Paint Manufacturing SMEs in South-Western Nigeria," Journal of Asian Business Strategy, Asian Economic and Social Society, vol. 2(1), pages 1-8.
    • Handle: RePEc:asi:joabsj:v:2:y:2012:i:1:p:1-8:id:4014
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    Cited by:

    1. Demetris Vrontis & Jaroslav Belas & Alkis Thrassou & Gabriele Santoro & Michael Christofi, 2023. "Strategic agility, openness and performance: a mixed method comparative analysis of firms operating in developed and emerging markets," Review of Managerial Science, Springer, vol. 17(4), pages 1365-1398, May.
    2. Mercedes Rubio-Andrés & Jorge Linuesa-Langreo & Santiago Gutiérrez-Broncano & Miguel Ángel Sastre-Castillo, 2024. "How to improve market performance through competitive strategy and innovation in entrepreneurial SMEs," International Entrepreneurship and Management Journal, Springer, vol. 20(3), pages 1677-1706, September.
    3. Waidi Adeniyi Akingbad, 2014. "Competitive Strategies and Improved Performance of Selected Nigeria Telecommunication Companies," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 10(4), pages 143-167.
    4. Okafor Linus Izediuno & Ifekwem Nkiruka Eugenia & Bello Bashiru Akande & Ajayi Mobolanle Adunola & Omotola Bamigbaiye-Elatuyi & Adebiyi Omolola Oladunke & Modibbo Usman Aliyu & Nnoli Ikenna Theodore, 2024. "Integration Strategies and Competitive Advantage in Manufacturing Sector: Evidence from Ogun State, Nigeria," International Review of Management and Marketing, Econjournals, vol. 14(4), pages 103-112, July.

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