Assessment of Business Enterprise and Strategic Thinking: A Study of Steady Growth Nigeria Limited
Strategic thinking has been recognized as the bane for successful business enterprises. However, many managers of business outfits do not recognize the importance of strategic thinking; hence investments in most businesses keep falling beyond expectations of profit making. The paper assessed business enterprise and strategic thinking at Steady Growth Nigeria Limited. The paper was underpinned on decision theory. The study population was 263 and the sample size is 158 staff of the company. The study adopted survey research design. The major instrument of data collection was structured questionnaire. Face and construct validation were carried out on the instrument. Inferential statistics, such as frequencies, percentages, mean ratings etc were used for data analysis through the aid of SPSS. The study found amongst others that the firm reduced their fleet by maintaining 20 active 10years old trucks, introduced 40 numbers of 5years old trucks and discarded the rest of the fleet. They introduced a new technology that tracks the trucks indicating their location and the condition of the truck per time. The paper recommended amongst others that business enterprises should engage quality and innovative personnel to man strategic positions in a business. Training, research and other developments should be prioritized.
Areyesh, B. & Mohammadi, E. (2011). Strategic thinking, the necessity of present managers of Iran. Singapore: IACSIT Press.
Beaufre, G. A. (1963). An introduction to strategy. Political Science Quarterly, 81(3), 508-510.
Business Dictionary (2014). Strategy. Retrieved from http://www.businessdictionary.com/ definition/strategy.html
Business Enterprise (2015). Business enterprise. Retrieved from http://www.vocabulary.com/ dictionary/enterprise
Crawford, V. P., Costa-Gomes, M. A. & Iriberri, N. (2013). Structural models of none-quilibrium strategic thinking: Theory, evidence and applications. Journal of Economic Literature, 51(1), 5–62.
Encyclopedia (2015). Business. Retrieved from http://en.wikipedia.org/wiki/Business
Floyd, M. (n.d). Business enterprise. Retrieved from https://www.strath.ac.uk/business/undergraduate/ courses/businessenterprise/
Friedman, L. & Gyr, H. (2015). Creating the dynamic enterprise: Strategic thinking tools for human resources practitioners. Retrieved from http://enterprisedevelop.com/wp-content/uploads/ 2015/05/EDG_HR_Strategy_Tools.pdf
Fuller, J. N. & Green, J. C. (2005). The leader’s role in strategy. Journal of Relevant Information & Analysis, 8(2), 213-221.
Levine, D. K. (n.d). What is game theory? Retrieved from http://levine.sscnet.ucla.edu/general/whatis.htm
Michael, S. (n.d). The role of strategic thinking in business planning. Retrieved from https://www.bia.ca/articles/TheRoleofStrategicThinkinginBusinessPlanning.htm
Monavvarian, A. (2014). A model of strategic thinking: Islam and Iranian perspective. International Journal of Business, Economics & Management, 1(10), 316-328.
Moskowitz, K. (2012). Strategic thinking. Retrieved from http://www.harriskern.com/wp-content/uploads/2012/05/Strategic-Thinking.pdf
Nickols, F. (2011). Strategy, strategic management, strategic planning and strategic thinking. Distance Consulting LLC.
Onyeaghala, O. H. & Ijuo, U. S. (2013). Strategic thinking: A key for competitiveness in small business operating in Nigeria. International Journal of Research in Commerce, IT & Management, 3(12), 70-75.
Peterson, M. (2009). An introduction to decision theory. Cambridge: Cambridge University Press.
Riley, J. (2015). Starting a business: What is enterprise? Retrieved from http://beta.tutor2u.net/business/reference/starting-a-business-what-is-enterprise
Switzer, M. (2008). Strategic thinking in fast growing organizations. Journal of Strategic Leadership, 1(1), 31-38.
Watson, B. (2015). Strategic thinking. Retrieved from http://www.thinkwatson.com/resources/critical-and-strategic-thinking
Wootton, S & Horne, T. (2001). Strategic thinking: A nine step approach to strategy and leadership for managers and marketers (3rd ed.). Philadelphia: KoganPage