| dc.description.abstract | Background: This study sought to establish the contribution of strategic management processes
on financial performance of Agro processing firm in Lira City. Specially, the study focused on
establishing the effect of strategic formulation on the financial performance of agro processing
firms in Lira City, assessing the effect of implementation on the financial performance of agro
processing firm in Lira City and examining the effect of evaluation on the financial performance
of agro processing firm in Lira City.
Methods: The study targeted all agro processing SMEs in Lira City approximately 620 in number
and it focused on the key stakeholders; the general manager, the accountant and the production
manager of which 234 owners and managers were sampled using simple random sampling from
the construction firms. The study employed multiple regression analysis to analyse contribution of
strategic management processes on financial performance of agro processing firm in Lia City.
Finding: The finding of the study revealed that evaluation and control (p<0.001, β=0.369), and
strategic implementation (p<0.001, β=0.428) are significant predicators of SME Financial
performance. However, jointly evaluation and control, strategic implementation and strategic
formulation explain 37.8% variation of all the possible factors that are likely to account for SME
Financial performance in Lira City (Adjusted R2 =0.378).
Recommendations: The study recommends that the management of all SMEs to ensure that their
organizations adopt strategic management process by carrying out accurate situation analysis,
involvement of all level employees in strategy formulation, implementation, and evaluation.
Keywords: Strategic Management, Processes, Financial Performance, and Agro Processing
SMEs | en_US |
