The Impact of Strategic Human Resource Management on Competitiveness of Small and Medium-scale Enterprises in the Nigerian Hospitality Industry

Strategic human resource management (SHRM) has become increasingly important to the competitiveness of firms. Despite the widespread practical and academic interests in SHRM and its impact on the competitiveness of firms, few empirical contributions on small and medium-scale enterprises (SMEs) could be found. Thus, this study aimed at providing empirical evidence on the impact of SHRM practices on the competitiveness of SMEs in the Nigerian hospitality industry, one of the attractive and fastest-growing industries in the country. This study conducted a survey on 120 small and medium-scale hospitality companies. Primary data were collected through structured questionnaire administered to the human resource managers of the companies. Data collected were analysed using frequency, percentage, correlation and multiple regression analysis. The findings showed that SHRM practices had a positive relationship with the firms’ market share and a significant effect on the profitability. However, the implementation of SHRM practices in the SMEs could be generally described as fair. The study concluded that SHRM had positive and significant impact on the competitiveness of SMEs in the Nigerian hospitality industry. Therefore, SMEs, irrespective of the industry, should pay more attention to SHRM practices with a view to improving their implementation.Keywords: Strategic human resource management, SME, competitiveness, Nigeri

Impact of Tax Reforms on Revenue Generation in Lagos State: A Time Series Approach

This study assessed the impact of tax reforms on revenue generation in Lagos State of Nigeria using Time Series quarterly data between the period of 1999 and 2012, obtained from the records of Tax Payer Statistics and the Revenue Status Report of Lagos State Internal Revenue Service (LIRS). Data collected were analysed using ordinary least square regression techniques (OLS). The study showed that Lagos State captured more people into the tax net as there was a continuous increase in taxpayers’ cumulative growth (more than 20% each year); and found that the primary source of revenue generation in Lagos State was the internally generated revenue (IGR) in which tax revenue constituted about 80%. The result also showed that, on trend, between 1999 and 2005, there was no noticeable increase in revenue generated from tax; but from 2006, there was a sharp, steady and noticeable increase in the tax revenue generated. On the pattern of tax administration in the state, from 2006 the state concentrated more on tax reforms with less dependence on other sources of internal revenue generation. The result further revealed that there was a long run relationship between the tax reforms and revenue generated in Lagos State; thus, the tax reforms had positive and significant effect on the revenue structure of the State. The study concluded that tax reforms had significantly contributed to revenue generation in Lagos State, which had enabled the state to carry her responsibilities to the citizenry with less reliance on the Federal Government. Keywords: Tax reforms, internally generated revenue, Time Series Analysis, Lagos

Supply Chain Risk Factors’ Assessment in the Nigerian Pharmaceutical Industry

The study assessed supply chain risk factors (SCRF) in the Nigerian pharmaceutical industry. Primary data were sourced for this study through a thematic questionnaire served on 300 randomly selected registered pharmacies. By means of bipolar semantic differential scales, respondents were assessed on semantic spaces, the probability of occurrence as well as projected impact of upstream, internal, and downstream supply chain risk factors. Data collected were analysed using probability-impact matrix, and other appropriate descriptive statistics. The results identified 18 risk factors in the Nigerian pharmaceutical supply chain. The risk factors with the greatest probability of occurrence was “excess stocking of products” (probability of 0.583, industry internal sector risk average probability was 0.492), followed by “increase in product prices by suppliers” (0.577, industry upstream sector average was 0.491). Risk factor with the greatest impact assessment was from the downstream; it was “failure to deliver products to customers” (4.453, industry downstream average was 4.112). The next was an upstream factor – “supplier product quality problem” (4.411, industry upstream average was 3.341). “Product expiration on the shelf” had the highest criticality rating (2.318), followed by “increase in product price by suppliers” (2.165), while “poor merchandising” (1.239) had the lowest criticality rating. With these findings, pharmaceutical firms in Nigeria are better equipped to manage and perhaps mitigate risk factors in their supply chain. Keywords: Supply chain risk management, supply chain, probability, risk-impact matri

Microfinance banks and small and medium sized enterprises access to finance: the Nigerian experience

The paper explored the extent to which current microfinance lending impacts on indigenous SME access to finance and how the intermediation services of the microfinance banks (MFBs) contributed to or otherwise to the development of SMEs. A total of 800 such indigenous SMEs were identified, however, data were obtained from 300 of the identified indigenous SMEs from a questionnaire survey in four states (provinces) within the country that make up the Niger Delta region. The result shows positive contribution of microfinance lending to the development of such enterprises. However, it appears that a number of factors including cumbersome process, poorly packaged business plans and perceived high cost of credit still limit the access of indigenous SMEs to credit. Keywords: microfinance banks, SMEs, entrepreneurship, financial services. JEL Classification: G21, L26, M1