Investigating small, medium and micro-scale enterprises strategic planning techniques in Johannesburg central business district post-COVID-19 lockdown.
Mkhonza, Vukile M. Sifolo, Portia P.
Mkhonza, Vukile M.
Sifolo, Portia P.
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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.
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Date
2022-04-29
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AOSIS
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Keywords
Strategic planning techniques, SMME performance, COVID-19 lockdown, Business performance, CBD.