Strategic Thinking and Entrepreneurial Orientation of SMEs Businesses in Oyo State, Nigeria

Foluso Olugbenga Aribaba; Abdul-Lateef Olamide Ahmodu; Morohunmubo Olayinka Akinrinlola

doi:10.58709/niujhu.v8i1.1584

Foluso Olugbenga Aribaba Federal University Oye-Ekiti, Ekiti State, Nigeria
Abdul-Lateef Olamide Ahmodu Wesley University, Ondo, Nigeria
Morohunmubo Olayinka Akinrinlola Bowen University Iwo, Osun State, Nigeria

DOI: https://doi.org/10.58709/niujhu.v8i1.1584

Abstract

The study examined the influence of strategic thinking on entrepreneurial orientation of SMEs in Oyo States, Nigeria. The research design used for the study was survey research design. The population of the study was 1,864,954 SMEs in Oyo State that are registered with SMEDAN. The sample size of 400 SMEs was selected from the state using simple and stratified random sampling techniques. The instrument used was questionnaire. The instrument was validated and the reliability of the instrument displays a coefficient value of 0.715. The study employed normality test and spearman correlation analysis was used to determine the degree of influence exists between strategic thinking and entrepreneurial orientation variables. The null hypotheses were tested at 5% level of significance (α = 0.05). The findings revealed positive significance value among the variables. Thereby, null hypotheses were rejected. The study concluded that strategic thinking has significance influence on entrepreneurial orientation of SMEs in Oyo State. It is therefore recommended that to improve entrepreneurial orientation among the SMEs, there should be sustainable improvement on SI and OI. Strategic thinking has shown the favourable improvement on EO, hence, must be embraced in Oyo State.

Keywords: Strategy, Thinking, Entrepreneurial Orientation and SMEs Businesses