International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online)

Best Practice Management Implementation and Its Effects on the Growth of SMEs in Ghana
Fred Appiah Fening, Michael Asare Appiah, Evelyn Owusu Frempong

Abstract
Purpose – This study investigated the effects of best practice management on the growth of SMEs in Ghana. Design/methodology/approach – With reference to the literature, this current paper used the following variables (training, TQM, planning and control, team work, employee empowerment, cash management and top management) as tools for best practice management. Using a quantitative approach and the survey method of collecting data, the questionnaire was administered through a face-to-face interview. A sample of 160 SMEs was selected and interviewed. The collected data were analyzed on SPSS to calculate descriptive statistics, reliability analysis, regression and correlation. Findings - The findings indicated that best practice management has a significant positive effect on SME growth in Ghana. The effect of the best practice management variables was also found to be positive and statistically significant. Finally, the findings confirmed that best practice management has a significant positive effect on the growth of SMEs in Ghana. Originality/value – This study has demonstrated that SME managers in Ghana believe that best practice management is a key contributing factor to the growth of SMEs in Ghana.

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