Strategic Agility and Entrepreneurial Capability of Small and Medium Entreprises (SMEs) in Akwa Ibom State, Nigeria

Abstract

The study aims to investigates the effect of strategic agility on entrepreneurial capability of small and medium enterprises (SMEs) in Akwa Ibom State, Nigeria. Conceptually, the study evaluates the extent to which strategic sensitivity, core capability, and strategic leadership influence SMEs entrepreneurial capabilities in the study area. The study employed cross-sectional survey research design approach to gather survey data, focused on viable SMEs with business-oriented sustainability plan to obtain primary data from respondents using a structured questionnaire, leading to 254 respondents consistently completed and returned questionnaire for the study from the ten (10) Federal Constituencies (Abak, Eket, Etinan, Ikono, Ikot Abasi, Ikot Ekpene, Itu, Oron, Ukanafun, and Uyo) in Akwa Ibom State of Nigeria. The data collected was analyzed using descriptive statistical tools such as frequencies and percentages, and simple linear model as inferential statistical tool for testing the hypotheses, and SPSS as statistical software package The quantitative outcome was determined through a 95 percent confidence level, at p-value less than 0.05. The result from the regression analysis revealed that, all the measures of strategic agility studied were positive and statistically significant, with strategic sensitivity (R2 = .672, Beta = .952, p = 0.000), core capability (R2 = .637, Beta = .884, p = 0.000), and strategic leadership (R2 = .523, Beta = 1.013, p = 0.000). The finding further showed that, strategic sensitivity, core capability, and strategic leadership has a positive and statistically significant influence on entrepreneurial capability of small and medium enterprises (SMEs) in Akwa Ibom State, Nigeria, implying that, SMEs entrepreneurs are very sensitive in, with required capabilities and good leadership to drive what they venture into to be profitable, and are strategic in diversifying and or expanding their businesses. Hence, the study recommended that, all SMEs entrepreneurs should institutionalize the strategic agility measures (strategic sensitivity, core capability, and strategic leadership) especially strategic sensitivity that shows very strong significant influence as their core operational pillars, to enable remaining agile in the changing business environment for economic stability and sustainable growth.