The Effect of Strategic Decision-Making on Business Survival: A Study of Agro-Processing Firms in Jigawa State
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Background of the Study
Strategic decision-making involves the formulation and implementation of long-term plans to achieve organizational objectives. For agro-processing firms, effective decision-making is crucial to navigating challenges such as market volatility, resource scarcity, and changing consumer preferences (Adebayo & Usman, 2024).
In Jigawa State, agro-processing is a vital sector contributing to food security and economic development. However, many firms face difficulties in sustaining operations due to poor strategic planning, inadequate risk management, and external environmental factors. Studies by Ibrahim and Bello (2023) suggest that firms with robust strategic decision-making processes are better equipped to survive and thrive in competitive markets.
This study examines the effect of strategic decision-making on business survival among agro-processing firms in Jigawa State.
Statement of the Problem
Despite the importance of strategic decision-making, many agro-processing firms in Jigawa State fail to survive beyond their initial years of operation. Poor planning, lack of market foresight, and ineffective resource allocation contribute to high failure rates.
Research by Yusuf and Sani (2024) indicates that firms with effective decision-making frameworks experience greater resilience and adaptability. However, limited research exists on the relationship between strategic decision-making and business survival in the context of agro-processing firms in Jigawa State. This study addresses this issue by exploring how strategic decision-making influences business survival in the region.
Objectives of the Study
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To assess the relationship between strategic decision-making and business survival among agro-processing firms in Jigawa State.
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To identify the challenges firms face in implementing strategic decisions.
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To propose strategies for improving decision-making processes in agro-processing firms.
Research Questions
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How does strategic decision-making influence business survival among agro-processing firms in Jigawa State?
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What challenges do agro-processing firms face in implementing strategic decisions?
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What strategies can enhance strategic decision-making in agro-processing firms?
Research Hypotheses
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Strategic decision-making significantly improves business survival.
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Poor implementation of strategic decisions negatively impacts firm performance.
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Training in decision-making frameworks enhances business resilience in agro-processing firms.
Scope and Limitations of the Study
The study focuses on agro-processing firms in Jigawa State, examining the role of strategic decision-making in their survival. It excludes other industries and states. Limitations include variations in firm size and decision-making practices across the sector.
Definitions of Terms
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Strategic Decision-Making: The process of making long-term, high-level decisions to achieve organizational goals.
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Business Survival: The ability of a business to sustain operations over time despite challenges.
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Agro-Processing Firms: Businesses involved in transforming agricultural products into finished or semi-finished goods.
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