Strategy Execution and Performance of SMEs: A Ghanaian Perspective

Abstract

This study investigates how organisational culture, monitoring and control systems, and communication affect SME performance in Ghana, where SMEs make up over 90% of businesses but struggle with sustainability. Using a quantitative, cross-sectional design, 237 SME managers and owners in Greater Accra were surveyed through structured questionnaires, with data analysed via multiple regression in SPSS 29.0. Results show that monitoring and control systems had the strongest positive impact on performance, followed by communication, while organisational culture negatively influenced outcomes, indicating that certain cultural practices may hinder adaptability and efficiency. Together, these factors explained 33% of performance variance. The cross-sectional design limits causal inference, suggesting future research should adopt longitudinal or qualitative approaches to explore cultural dynamics more deeply. Despite limitations, the study provides context-specific insights for emerging market SMEs, showing that while control systems and communication drive performance, culture can both enable and constrain growth. Managers are encouraged to strengthen monitoring mechanisms, foster clear communication, and critically assess cultural practices to avoid barriers to agility and innovation. By improving internal systems and promoting adaptive cultures, SMEs can enhance sustainability, generate employment, and contribute more effectively to Ghana’s economic development.