Enhancing Business Performance of SMEs through Green Business Strategy: South-South Nigeria in Focus Enhancing Business Performance of SMEs through Green Business Strategy: South-South Nigeria in Focus – Direct Research Journal of Management and Strategic Studies
Original Research Article

Enhancing Business Performance of SMEs through Green Business Strategy: South-South Nigeria in Focus

Kifordu,  A. Anthony*

Erimafuru,  O. Faith

Erijiromah O. Lucky

Article Number: DRJMSS11051908
DOI: https://doi.org/10.26765/DRJMSS11051908
ISSN: 2787-009X

Vol. 4(3), Pp. 40-52, July 2023

Copyright © 2023

Author(s) retain the copyright of this article

This article is published under the terms of the

Creative Commons Attribution License 4.0.


Abstract

The study addressed green business strategy through business performance. Four objectives guided the study effect of green innovation strategy, the effect of environmental orientation strategy, the effect of green product differentiation, and green product distinctiveness on business performance of SMEs in the area under study. The institutional theory guided the study. The study used survey research design. Two hundred and seventy-eight (278) population was randomly selected and used the as the sample size to guide the study. Analysis of variance (ANOVA) and linear regression were used in the study as statistical methods. Finding revealed that  Green Innovation Strategy had a significant effect on Business performance  with (b = 0.364, P < 0.01),  Environmental Orientation Strategy had a significant  effect on Business performance with  (b = 0.353, P < 0.01), Green Product Differentiation had a significant effect    Business performance with  (b =0 .221 P < 0.01) and  Green product had a   significant distinctiveness on  Business performance with a beta coefficient of 0 .468 network capability wields the greatest impact on business performance among other constructs of green business strategy. The study concluded that Green innovation strategy, environmental orientation strategy, green product differentiation and green product distinctiveness are all aspects of green business strategy that have a large, positive impact on business performance. The study recommended that  Recommendations that due cognizance should be taken by leaders, from the perspectives of ‘Change’, ‘Purpose’ and ‘Leadership’, to formulate a strategy that sustains the business, develop systems and structures within their business that satisfy the requirements of green business practices while still achieving strategic business goals and should carry out regular sensitization programs on the need for SMEs to make viable business strategy in order to improve and remain in business. Finally, the study has filled a vacuum in the literature by considering green business strategy and business performance in the context of SMEs.

Keywords: Business performance, innovation, proactiveness, differentiation, distinctiveness, green business
 Received: June 18, 2023  Accepted: August 20, 2023  Published: August 31, 2023



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