Effect of Teamwork on Survival of Manufacturing Small and Medium Enterprises in Nigeria

Cosmas Nwankwo and MacDonald Isaac Kanyangale ()
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MacDonald Isaac Kanyangale: University of KwaZulu-Natal, South Africa

Eurasian Journal of Business and Management, 2022, vol. 10, issue 3, 167-180

Abstract: In many industries, teamwork is critical to enterprise existence. However, many manufacturing small and medium firms (SMEs) in Nigeria have failed to survive before their fifth birthday. The aim of this positivistic study is to examine the effect of teamwork on the survival of manufacturing SMEs in Nigeria. A structured questionnaire is used to collect data from 364 owner-managers of manufacturing SMEs selected using stratified random sampling technique. Structural equation modeling (SEM) is used to analyze data. Results show that teamwork has a strong, positive, and significant effect on the survival of manufacturing SMEs in Nigeria. More specifically, the dimension of communication is a strong predictor of SME's survival, followed by recognition, team spirit, and collaboration. The study concludes that there is a variety of critical dimensions of teamwork for the survival of manufacturing SMEs. The study also recommends that if manufacturing SMEs are to survive and thrive in Nigeria, owner-managers must demonstrate and promote a multi-dimensional and nuanced vision of teamwork. The study's findings have key pragmatic and research implications.

Keywords: Efficient Market Hypothesis; Technical Rules; Efficiency; Four Asian Dragons; Buyand-Hold Strategy (search for similar items in EconPapers)
Date: 2022
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