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ORIGINAL PAPER
Strategic management practices and entrepreneurial resilience in Nigeria’s volatile economic environment
1
National Institute for Legislative and Democratic Studies, Nigeria
A - Research concept and design; B - Collection and/or assembly of data; C - Data analysis and interpretation; D - Writing the article; E - Critical revision of the article; F - Final approval of article
Submission date: 2026-03-24
Final revision date: 2026-04-13
Acceptance date: 2026-04-13
Online publication date: 2026-07-31
Publication date: 2026-07-31
NSZ 2026;21(3):123-146
KEYWORDS
ABSTRACT
Research objectives and hypothesis/research questions:
The main objective of this study is to examine the relationship between strategic management, entrepreneurial innovation, and business resilience in Nigeria. The specific objectives are to: 1. Analyze the role does entrepreneurial innovation play in enhancing business resilience in Nigeria. 2. Evaluate the institutional and environmental factors constrain the effectiveness of strategic management and innovation. 3. Identify how firms can improve their strategic responses to economic uncertainty. 4. Propose strategic frameworks for enhancing resilience in a volatile economic environment.
Research methods:
Adopting a quantitative cross-sectional survey design, empirical data were gathered from a diverse cohort of SMEs in Lagos State. The research utilized robust regression analysis to evaluate the individual and collective effects of strategic management frameworks and innovative capacities on multifaceted firm resilience.
Main results:
Findings reveal that strategic management practices significantly influence resilience. However, entrepreneurial innovation is the most potent predictor of adaptability and survival. Institutional constraints were found to negatively moderate these relationships, limiting the effectiveness of both strategy and innovation.
Implications for theory and practice:
Theoretically, the study contributes to strategic management literature by highlighting the moderating role of institutional factors in emerging markets. Practically, it recommends that firms transition from rigid planning to flexible, innovation-oriented strategies and calls for urgent policy reforms to improve the Nigerian business environment.
The main objective of this study is to examine the relationship between strategic management, entrepreneurial innovation, and business resilience in Nigeria. The specific objectives are to: 1. Analyze the role does entrepreneurial innovation play in enhancing business resilience in Nigeria. 2. Evaluate the institutional and environmental factors constrain the effectiveness of strategic management and innovation. 3. Identify how firms can improve their strategic responses to economic uncertainty. 4. Propose strategic frameworks for enhancing resilience in a volatile economic environment.
Research methods:
Adopting a quantitative cross-sectional survey design, empirical data were gathered from a diverse cohort of SMEs in Lagos State. The research utilized robust regression analysis to evaluate the individual and collective effects of strategic management frameworks and innovative capacities on multifaceted firm resilience.
Main results:
Findings reveal that strategic management practices significantly influence resilience. However, entrepreneurial innovation is the most potent predictor of adaptability and survival. Institutional constraints were found to negatively moderate these relationships, limiting the effectiveness of both strategy and innovation.
Implications for theory and practice:
Theoretically, the study contributes to strategic management literature by highlighting the moderating role of institutional factors in emerging markets. Practically, it recommends that firms transition from rigid planning to flexible, innovation-oriented strategies and calls for urgent policy reforms to improve the Nigerian business environment.
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