Strategic Foundations: Unravelling the Role of Business Strategy and Structure in Fostering SME Success in Botswana

Abstract

The study investigated the influence of business strategy and structure on SMMES business success in Botswana. The study was guided by market orientation theory which holds significant importance within the field of marketing research, as it underscores the need for organisations to align their internal processes, products, as well as strategies with the current market conditions. The quantitative research approach was employed, and the Poisson regression employed to analyse the survey data collected. It was found that strategic planning expertise, the application of a corporate strategy, employee inputs, and adherence to rigorous standards are all associated with a large rise in profitability. The results also highlight the value of a cooperative strategy within the company. When staff members participate in decision-making, they develop a sense of ownership and dedication to the company's success, which leads to increased commitment and output. Customer experiences, operational effectiveness, and ultimately the bottom line is all positively impacted by this. The emphasis on adhering to rigid guidelines also emphasises the significance of discipline and uniformity in operations. The study concludes that Botswana's SMMEs should prioritise strategic planning and ongoing skill development to adapt their company operations to changing market needs, so ensuring long-term growth and competitiveness. Policymakers and business support institutions should cultivate a cooperative environment that promotes employee involvement in decision-making and the implementation of strict operational benchmarks to stimulate innovation, productivity, and responsibility within the small, medium, and micro enterprise (SMME) sector.