Strategic Management Practices, Decision Making Styles and Performance of Small and Medium Enterprises in Ekiti State, Nigeria

The study investigated the moderating role of decision making styles between strategic management practices and performance of small and medium enterprises (SMEs) in Ekiti State, Nigeria with a view to establishing whether strategic planning and implementation as well as decision making styles significantly affect performance of SMEs in Ekiti State, Nigeria.Descriptive survey research design was used for the study.Primary data collected through a semi-structured questionnaire administered on three hundred and ninety-five (395) small business owners and managers in Ekiti State, Nigeria were analysed through frequency count, multiple regression and logit models.The result of multiple regression showed that strategic planning positively and significantly affect performance of SMEs showing t-statistics and probability of (t= 6.930; .000<0.05).Also the result obtained indicated a positive and significant effect of strategy implementation on performance of SMEs showing t-statistics and probability of (t= 4.074; 0.000 < 0.05).In addition, the study indicated that decision making styles mediated positively between strategic management and performance of SMEs in Ekiti State, Nigeria and exerts stronger effect than the independent variable on the dependent variable.Based on the results of the study it was concluded that a unit increase in strategic management practices and decision making styles led to a significant increase in performance of SMEs in Ekiti State, Nigeria.The study recommended that owners and managers of the SMEs should pay more attention to strategic planning and implementation as well as their decision making styles if they are to succeed and survive in the highly competitive and untoward business environment in Nigeria.