Version 1
: Received: 21 March 2024 / Approved: 22 March 2024 / Online: 25 March 2024 (11:10:16 CET)
How to cite:
Oyeniran, G.T.; Adeleke, A.; Olatunbosun, A.; Adio, B.I. Investigating The Impact of Strategic Business Analysis on SMEs in Nigeria. Preprints2024, 2024031466. https://doi.org/10.20944/preprints202403.1466.v1
Oyeniran, G.T.; Adeleke, A.; Olatunbosun, A.; Adio, B.I. Investigating The Impact of Strategic Business Analysis on SMEs in Nigeria. Preprints 2024, 2024031466. https://doi.org/10.20944/preprints202403.1466.v1
Oyeniran, G.T.; Adeleke, A.; Olatunbosun, A.; Adio, B.I. Investigating The Impact of Strategic Business Analysis on SMEs in Nigeria. Preprints2024, 2024031466. https://doi.org/10.20944/preprints202403.1466.v1
APA Style
Oyeniran, G.T., Adeleke, A., Olatunbosun, A., & Adio, B.I. (2024). Investigating The Impact of Strategic Business Analysis on SMEs in Nigeria. Preprints. https://doi.org/10.20944/preprints202403.1466.v1
Chicago/Turabian Style
Oyeniran, G.T., Adeyemi Olatunbosun and Babatunde I Adio. 2024 "Investigating The Impact of Strategic Business Analysis on SMEs in Nigeria" Preprints. https://doi.org/10.20944/preprints202403.1466.v1
Abstract
-- This paper examines the critical role of business analysis in shaping small and medium-sized enterprises’ strategies for better odds of success in the ever-evolving Nigerian economy and within the competitive markets. Business analysis ability, as a knowledge-supporting factor, focuses on understanding consumer needs, planning, data collection, analysis, and presentation to decision-makers. The process begins with strategic planning and meticulous data collection, facilitating a deep understanding of the business and consumer behavior and process potential. Analytical skills unearth the true potential of organizational processes, particularly in product creation, resulting in distinctive and highly valued products. Such products align with theories like the resource-based view or VRIO theory, driving increased sales volume—a key performance metric. By leveraging analytical capabilities, Nigerian SMEs can navigate complex market dynamics, create value-driven businesses, and differentiate themselves from competitors thus increasing the odds of success. This paper sets the stage for further research into the impact of business analysis on organizational success within dynamic market landscapes.
Keywords
Keywords--- Business Analysis, SMEs, Business Strategy
Subject
Business, Economics and Management, Business and Management
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
