A Study On Enhancing SME’s Global Competitiveness In Nigeria

The role of small and medium enterprises in the economic and social development of the country is well established.This study evaluates the global competitiveness of SMEs in Nigeria;it examines the potential of firm management,human resource management,innovation,marketing and global preference as the sources of competitiveness of Nigerian SMEs.Gaining insights from existing literature and theoretical model,five competitive strategies were tested using Pearson’s Correlation matrix.Copies of well-structured questionnaires were administered to selected SMEs in four States in Nigeria.The study indicates that Nigerian SMEs have been able to utilize its marketing,organizational management and global preference capabilities to its advantage although there is room for improvement.Overall,this research result indicates that marketing,organizational management,and global preference can be considered as the potential source of competitiveness of Nigerian SMEs.Therefore,the findings serve a strong signal for SMEs to step up their competitive strategies more towards improving dynamic capabilities in human resource management and innovation.The research recommends that to be more competitive,firms must be strategically aware of their needs and also offer unique products and services to satisfy the needs of their customers.