Managerial Practices on Performance of SME’s In Ghana: A Case Study of Three (3) Major Cities
Author’s Details: (1) Charles Mawuena Gates* (2)Mengyu Wu (3)Felix Kwame Nyarko (3)Winfred Okoe Addy (4)Gyebison Bernard Amoah (5)Ethel Dzidefo Asimah- (1)(2)(3)(4)(5)School of Economics and Finance, Jiangsu University, 212013, China- Correspondent Email: whilc@yahoo.com
Abstract
the aim of this paper was to find out the impact of managerial practices on the performance of Small and Medium-sized Enterprise’s (SME’s) in Ghana. The growth and development of SME’s are predominantly dependent on the efficient managerial practices of SME’s and subsequently the need to examine its influence on the performance of SME’s as well. Data were collected through self-administered questionnaires from 200 registered SMEs operating within the three major cities in Ghana. The Cronbach’s Alpha was used to check the reliability of the data which indicated high levels of consistencies. The empirical analysis was conducted using the multiple linear regression model. The results of the study indicated that there was a positive relationship between training practice and SME performance, performance appraisal, and SME performance and between incentive compensation and SME performance. This, therefore, implies that for the effective development of SME’s in Ghana, the owners should pay more attention to employees’ incentive motivation, capacity building of employees and the performance appraisal of employees
Keywords: Managerial Practices; Performance of SMEs; Incentive Motivation
