An empirical study of strategic flexibility and its impact on business resilience: A case study of SMEs in Kano State.
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Background of the Study: Strategic flexibility refers to a firm’s ability to adapt and respond to changes in its environment, market conditions, and internal processes (Harrison & Day, 2023). It is a crucial aspect of business resilience, particularly for SMEs operating in dynamic and uncertain environments. In Kano State, SMEs face various external challenges, including economic instability, regulatory changes, and fluctuating demand. Strategic flexibility enables these firms to remain resilient by quickly adjusting their strategies and operations in response to these challenges (Ahmad & Suleiman, 2023).
In the context of SMEs, strategic flexibility involves making quick decisions on product innovation, resource reallocation, market diversification, and business process optimization to mitigate risks and capitalize on emerging opportunities (Bello & Ibrahim, 2023). Business resilience, defined as a firm’s ability to recover from setbacks, adapt to changing conditions, and sustain long-term success, is closely tied to strategic flexibility (Adamu & Sulaimon, 2024). However, the precise impact of strategic flexibility on business resilience, particularly in SMEs in Kano State, is not well-documented. This study will explore the relationship between strategic flexibility and business resilience among SMEs in the region.
Statement of the Problem: SMEs in Kano State face a volatile business environment, characterized by rapid market shifts, unpredictable demand, and increasing competition. While strategic flexibility is recognized as a critical factor in business resilience, many SMEs in Kano struggle to effectively implement flexible strategies due to resource constraints, lack of managerial expertise, and limited access to information. This study seeks to empirically examine the role of strategic flexibility in enhancing the resilience of SMEs in Kano State and determine how this flexibility impacts their ability to navigate external shocks and sustain growth.
Objectives of the Study:
1. To assess the relationship between strategic flexibility and business resilience in SMEs in Kano State.
2. To evaluate the impact of strategic flexibility on the ability of SMEs to adapt to market changes and economic challenges.
3. To identify the factors that facilitate or hinder the adoption of strategic flexibility in SMEs in Kano State.
Research Questions:
1. What is the relationship between strategic flexibility and business resilience in SMEs in Kano State?
2. How does strategic flexibility influence the ability of SMEs in Kano State to adapt to market changes and economic challenges?
3. What factors facilitate or hinder the adoption of strategic flexibility in SMEs in Kano State?
Research Hypotheses:
1. Strategic flexibility does not significantly impact business resilience in SMEs in Kano State.
2. There is no significant relationship between strategic flexibility and market adaptation in SMEs in Kano State.
3. Factors such as resource constraints and managerial expertise do not significantly affect the adoption of strategic flexibility in SMEs in Kano State.
Scope and Limitations of the Study: This study will focus on SMEs in Kano State, Nigeria. It will examine the relationship between strategic flexibility and business resilience, with a particular focus on the adaptability of SMEs to market changes and economic shifts. Limitations include the challenge of measuring strategic flexibility and business resilience, as well as the potential for response biases in the survey data.
Definitions of Terms:
• Strategic Flexibility: A firm’s ability to adapt to changes in its external environment and adjust its strategies accordingly to maintain competitive advantage.
• Business Resilience: The capacity of a business to withstand and recover from adverse conditions, including economic downturns and market disruptions.
• SMEs (Small and Medium-sized Enterprises): Businesses characterized by limited resources, small-scale operations, and fewer employees, often playing a critical role in local economies.
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