International Journal of Small Business and Entrepreneurship Research (IJSBER)

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An Exploration of Practical Challenges of Implementing Feasibility Studies in SMES in Cross River State, Nigeria

Abstract

This paper situates the implementation of feasibility studies within the context of SMEs using 61 randomly selected small and medium sized firms in Calabar metropolis, Cross River State. Regression result showed effective and efficient implementation of feasibility studies areconstrained by myriad of internal and external factors. These include inexperience,stakeholders’ pressure, unpredictability of policy and regulatory frameworks, unreliability of data/ information and paucity of funds. Overcoming these challenges requires among others, bridging the dichotomy between conceptualization and implementation offeasibility studies, consideration of broader stakeholders’ interests other than profit and organizational flexibility to enable the firms adapt and cope with environmental dynamics. 

Keywords: Conceptualization, Environmental Dynamics, Feasibility Studies, Implementation, Organizational Flexibility, Pressure, Regulatory Framework, Stakeholders

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This work by European American Journals is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 4.0 Unported License

 

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Email ID: editor.ijsber@ea-journals.org
Impact Factor: 7.70
Print ISSN: 2053-5821
Online ISSN: 2053-583X
DOI: https://doi.org/10.37745/ijsber.2013

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