Corporate Resilience and Dynamic Capabilities of Small and Medium-scale Enterprises in Yenagoa, Bayelsa State, Nigeria

Abstract

This study ascertained the relationship between corporate resilience and dynamic capabilities of small and medium-Scale enterprises in Yenagoa, Bayelsa State. The researcher adopted a cross-sectional survey design. The study population consisted all registered small and medium- scale enterprises with the Ministry of Commerce, Trade and Investment in Bayelsa State and the Corporate Affairs Commission (CAC). Four hundred and sixteen (416) SMEs were selected. The sample size was determined using the Taro Yamane formula and a total of 204 participants made up the sample size. A structured questionnaire was designed to elicit data. The Spearman Rank Correlation coefficient was adopted to test the hypotheses with the aid of the SPSS version 24. The result revealed that corporate resilience had a positive and significant relationship with SMEs dynamic capabilities. The researcher concludes that corporate resilience is an important psychological quality needed by managers of SMEs to push through with emerging business challenges. Dynamic capabilities is a strategic management approach that sustains competitive advantage. Corporate resilience and firm dynamic capabilities can lead to SMEs sustained growth and effective performance. Thus, it was recommended that the management of SME’s should enhance its dynamic capabilities to sense market changes and encourage a persevering work behaviour to achieve business objectives despite overwhelming challenges in the market.