Strategic Management Practice and Corporate Performance of Selected Small Business Enterprises in Lagos Metropolis

Strategy is considered to be a detailed plan for a business in achieving success. Managers employ strategy to achieve result. Strategic management practices and organization performance in small business enterprises {SBEs} goes together, but most Small business enterprises place less emphasis on making effective strategy for improved performance. This paper examines the influence of strategic management on corporate performance in selected small scale enterprises in Lagos, Nigeria. The paper also provides how strategy could be used for improved performance of small scale enterprise in Nigeria. Two hypotheses were tested. They are to determine whether: {i} there is a significant relationship between strategic management and organizational profitability; {ii} there is a significant relationship between strategic management and company market share. Cross sectional survey research method was adopted for the study and 140 participants were randomly selected among SSEs in Lagos metropolis. Pearson product moment coefficient of correlation and descriptive statistics were used for data analysis. Findings revealed that strategic management practices enhance both organizational profitability and company market share. The study recommends that investors and managers should make use of strategic management to improve their organizations actual performance at all times.