Strategic Entrepreneurial Approaches and Their Influence on the Competitive Posture of Small-Scale Enterprises in South-South Nigeria
Small-scale businesses are pivotal drivers of economic growth, employment generation, and innovation in developing economies. However, their long-term survival and prosperity are intrinsically linked to their ability to achieve and sustain a competitive advantage in dynamic and often challenging market environments. This article explores the profound influence of strategic entrepreneurship on the competitiveness of small-scale businesses, with a specific focus on the South-South region of Nigeria. Strategic entrepreneurship, a synergistic integration of entrepreneurial (opportunity-seeking) and strategic (advantage-seeking) behaviors, offers a powerful framework for businesses to simultaneously identify novel opportunities and develop sustainable competitive positions. Drawing upon resource-based theory and entrepreneurial orientation concepts, this study synthesizes existing literature to elucidate how strategic entrepreneurial practices – encompassing innovation, proactiveness, risk-taking, strategic renewal, and resource leveraging – can enhance market responsiveness, foster unique capabilities, and ultimately improve the competitive posture of small-scale enterprises. The article highlights the contextual factors prevalent in South-South Nigeria that necessitate such an approach and concludes with recommendations for business owners and policymakers aimed at fostering a more strategically entrepreneurial and competitive SME sector.
