Impact of Strategic Management on Organizational growth and development in Delta State, Nigeria: Small and Medium Enterprises (SMEs) in Focus.
In as much the growth of organizations doesn’t takes place in an unplanned way, but, it occurs in a premeditated, organized way and is the fruit of conscious strategic management decision taken by a firm in the ever-changing business environment. To this end, this study, therefore, examined the impact of strategic management on organizational growth and development, focusing on SMEs (such as IDEAL ICT Centre, Agofure Motors, God is Good Motors, Service Pharmaceutical Company, and Wichtech industries) in Asaba Delta State, Nigeria as an area of study. A total of 214 valid structured questionnaire data was collected among five (5) selected firms’ staff randomly.And the text of hypotheses was based on multiple regression analysis via SPSS analytical tools. Findings revealed that strategic management has an impact on organizational growth and development. Thus it is concluded that grand strategy, differential strategy, and the strategic alliance influences organizational growth and development. The study recommends that when formulating strategies owners/managers of SMEs should take all the necessary steps accordingly and very religiously. Also, SMEs managers/owners should stop viewing their business as so small to embark on strategy formulation and implementation.