Survival strategies implemented by Small and Medium Enterprises during uncertain times: The case of SMES in Bindura.”
- Author
- Banda, Sharmaine C.
- Title
-
Survival strategies implemented by Small and Medium Enterprises during uncertain times: The case of SMES in Bindura.”
- Abstract
-
The research investigated the survival strategies implemented by SMES in Bindura during
uncertain times. The objectives of the study were, i) to find out the challenges being faced by
SMES in the economy ii) to find out measures which SMES are currently implementing in
order to survive during uncertain times iii) to identify the strengths of SMES in implementing
measures which will sustain their existence. A descriptive research design was used. A sample
of 41 respondents was chosen using stratified random sampling technique. Questionnaires were
used to gather primary data. Statistical significance of the factors was analyzed using
descriptive statistics and frequency tables. Survival strategies identified by the literature
namely, innovation, training, psychological strength, differentiation, technological
advancement, strategic planning, diversification, costs control and organizational
ambidexterity indicated that they have a significant impact on the survival of SMES during
uncertain times. The researcher recommended that SME operators should strive in developing
their skills in managing their enterprises by engaging in research and development as well as
capacity building. The researcher also recommended that the government should create a
macro-economic environment that is stable so as to minimize the risk of failure of SMES in
times of uncertainty. Employment of workers who have the potential and the correct educational qualifications is also recommended. - Date
- June 2022
- Publisher
- BUSE
- Keywords
- SMEs
- Survival strategies
- Supervisor
- N/A
- Item sets
- Department of Accountancy
