Investigating small, medium and micro-scale enterprises strategic planning techniques in Johannesburg central business district post-COVID-19 lockdown
The Southern African Journal of Entrepreneurship and Small Business Management
; 14(1), 2022.
Article
in English
| ProQuest Central | ID: covidwho-1855956
ABSTRACT
Background:
Strategic planning assists organisations to capitalise on opportunities that arise and to minimise the threats posed by unstable market environments. Apart from the track record of poor performance amongst some small, medium and micro-scale enterprises (SMMEs) in South Africa, COVID-19 pandemic severely affected more than 55 000 South African SMMEs in March 2020 after the lockdown imposed by the government.Aim:
This research study sought to investigate strategic planning techniques or tools implemented by SMMEs post-COVID-19 lockdown in Johannesburg Central Business District (CBD).Setting:
The study was conducted at small, medium and micro-enterprises in Johannesburg Central Business District.Methods:
A quantitative study was conducted by using an online E-Survey Hero which was distributed to the sample of 169 respondents who were SMME owners and managers in Johannesburg CBD.Results:
The results revealed that most SMMEs owners had knowledge on the strategic planning techniques such as the strengths, weaknesses, opportunities and threats (SWOT) analysis, the political, economic, social and technological (PEST) analysis, financial analysis of the competitors and financial analysis of their own business.Conclusion:
Small, medium and micro-scale enterprises should take advantage of technology and invest in key skills needed for more effective strategic planning.
Business And Economics--Small Business; strategic planning techniques; SMME performance; COVID-19 lockdown; business performance; CBD; Small business; Entrepreneurship; Exports; Central business districts; Pandemics; Entrepreneurs; Gross Domestic Product--GDP; Precious metals; Strategic planning; Coronaviruses; COVID-19; United States--US; China; South Africa
Full text:
Available
Collection:
Databases of international organizations
Database:
ProQuest Central
Topics:
Long Covid
Language:
English
Journal:
The Southern African Journal of Entrepreneurship and Small Business Management
Year:
2022
Document Type:
Article
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