Strategic Management in SMEs

2014 ◽  
pp. 1-21
Author(s):  
Rosalind Jones ◽  
Susan Sisay
Keyword(s):  
Strategic Management ◽  
Small Firms ◽  
Firm Growth ◽  
Future Research ◽  
Entrepreneurial Marketing ◽  
Strategic Orientations ◽  
Marketing Orientation ◽  
New Knowledge ◽  
Future Research Directions ◽  
Published Research

The chapter examines strategic orientation in small and medium-sized enterprises (SMEs) in response to the growing demand for the generation of new knowledge concerning strategic behaviours of SMEs. Drawing from both strategic management and entrepreneurial marketing literature and using models and recent theoretical developments from published research based in small firms, it explains the sorts of activities, attitudes and behaviours which occur in SMEs and suggests that different strategic orientations generate either increased or decreased profitability and firm growth. It also presents a conceptual model which serves to illustrate the competitive strategic typologies adopted by SMEs and the interrelationship between these strategic typologies and an Entrepreneurial Marketing Orientation (EMO) dimension of SMEs. The authors propose that the dominant strategic orientations of SMEs could be predicted by application of this model in future studies. The chapter concludes with ecommendations and suggestions for future research directions.

Marketing Orientation Embedding Internet Capability as Best Practice for Medium-Sized Global Firms

2019 ◽  
pp. 111-135
Author(s):  
Maria Giovanna Tongiani ◽  
Claudia Burchielli
Keyword(s):  
Best Practice ◽  
Global Market ◽  
Future Research ◽  
Research Directions ◽  
Marketing Orientation ◽  
The Social ◽  
Marketing Activities ◽  
Future Research Directions ◽  
Different Characteristics ◽  
The Web

Contemporary competition in the distribution sector is becoming increasingly more cut-throat and consumers have multiple channels to choose from for making their purchases, each with different characteristics and practical methods. The objective of this work is to obtain information and identify the elements that allow for highlighting the ability of the medium-sized retailers who use the web and the social media to expand their own reference markets. The information will be acquired by means of interviews with Italian and international (USA and UK) customers of a medium Italian global fashion retailer. The analyses of the results will provide useful indications concerning the marketing activities for the medium retailer firms operating in the global market. This approach is followed by future research directions and a conclusion.

Pattern-Based Tool Design for Shared Knowledge Construction

2010 ◽  
pp. 19-38 ◽  
Author(s):  
Stephan Lukosch
Keyword(s):  
Knowledge Construction ◽  
Development Process ◽  
End Users ◽  
Shared Knowledge ◽  
Future Research ◽  
Shared Understanding ◽  
Research Directions ◽  
Computer Mediated ◽  
New Knowledge ◽  
Future Research Directions

Shared knowledge construction aims at supporting the creation and gathering of new knowledge. It relies on tools for computer-mediated interaction. The design and development of these tools is difficult, as not only the interaction of one user with the tool but also the interaction among the users themselves has to be taken into account. For designing and developing successful tools, it is crucial to involve end-users in the development process and to create shared understanding of the requirements as well as the solutions among the end-users and developers. In this chapter, the author analyzes the problems when developing tools for computer-mediated interaction in general and present a novel pattern-based approach for supporting developers as well as integrating end-users in the development process. The author shows the applicability of this approach by introducing tools for shared knowledge construction and describing their pattern-based design. The author concludes by giving an outlook on future research directions.

Small Firms Crafting Growth Niches in the French Wine Industry: The Role of Entrepreneurial Marketing

2012 ◽  
Vol 13 (3) ◽  
pp. 211-218 ◽  
Author(s):  
Lisa C. Barton ◽  
Sandra Painbéni ◽  
Harry Barton
Keyword(s):  
Teaching And Learning ◽  
Small Firms ◽  
Firm Growth ◽  
Wine Industry ◽  
Product Knowledge ◽  
Wine Production ◽  
Entrepreneurial Marketing ◽  
Entrepreneurial Activities

The Case Study section of the International Journal of Entrepreneurship and Innovation serves two purposes. First, the case studies presented are concerned with problematical issues that are pertinent to students of entrepreneurship. Thus they constitute appropriate teaching and learning vehicles on a variety of postgraduate and undergraduate programmes. Each case study is accompanied by a set of guidelines for the use of tutors. Second, it is envisaged that those engaged in entrepreneurial activities will find the cases both interesting and useful. This case study focuses on Domaine de Mourchon, a niche producer of Côtes du Rhône Villages, Séguret Wines in France, owned by the Scottish McKinlay family. The case explores the role of entrepreneurial marketing in helping small independent wine producers to craft strong niche positions in a mature industry. Over the last two decades, French wine producers have been faced with changing consumption and production patterns and fiercer competition, particularly from the New World wine producers. McKinlay entered wine production in 1998 at the height of the industry decline in France. The case allows for the exploration of how a small independent domaine has been proactive in integrating customer preferences, competitor intelligence and product knowledge into the process of creating and delivering superior value to customers in an attempt to achieve a strong market positioning. The activities of McKinlay highlight some of the important considerations for successful entrepreneurial marketing in an industry facing severe marketing problems. Learning objectives: a) to explore the role of entrepreneurial marketing in promoting small firm growth, particularly in mature and/or declining industries; (b) to assess branding and the establishment of or involvement in cooperative interorganizational networks as key factors in successful entrepreneurial marketing; and (c) to stimulate debate about the role of entrepreneurial marketing for small and large firms in different industries.

scholarly journals Behavioural strategy: Adaptability context

Management ◽  
2016 ◽  
Vol 20 (1) ◽  
pp. 256-276 ◽  
Author(s):  
Katarzyna Piórkowska
Keyword(s):  
Strategic Management ◽  
Organizational Level ◽  
Future Research ◽  
Adaptive Performance ◽  
Research Directions ◽  
Individual Level ◽  
Behavioural Strategy ◽  
Future Research Directions ◽  
Multi Level ◽  
The Individual

SummaryThe paper is embedded in the following fields: strategic management in terms of behavioural strategy concept, adaptability construct, and micro-foundations realm as well as organizational theory and psychology. Moreover, the paper concerns to some extent a multi-level approach in strategic management involving individual, team, and organizational level. The aim of the paper is to contribute to extend, on one hand, the ascertainment set in the field of behavioural strategy as behavioural strategy encompasses a mindboggling diversity of topics and methods and its conceptual unity has been hard to achieve (Powell, Lovallo, Fox 2011, p. 1371), and on the other hand, to order mixed approaches to adaptability especially to gain insights on micro-level adapting processes (individual adaptability and adaptive performance) in terms of the multi-level approach. The method that has been used is literature studies and the interference is mostly deductive. The structure of the manuscript is four-fold. The first part involves the considerations in the field of adaptability and adaptive performance at the individual level. The issues of adaptability and adaptive performance at the team level have been presented in the second part. The third part encompasses the organizational adaptability assertions. Finally, the conclusion, limitations of the considerations highlighted as well as the future research directions have been emphasized. The overarching key finding is that the behavioural strategy concept may constitute the boundary spanner in exploring and explaining adaptability phenomenon at different levels of analysis.

scholarly journals Management of Innovation and Knowledge Sharing

2021 ◽  
pp. 485-500
Author(s):  
Michael Howard
Keyword(s):  
Machine Learning ◽  
Strategic Management ◽  
Technological Innovation ◽  
Absorptive Capacity ◽  
Social Benefit ◽  
Future Research ◽  
Socially Constructed ◽  
Management Of Innovation ◽  
New Knowledge ◽  
Traditional Roles

Strategic management research provides a strong foundation to explain how new knowledge is developed and shared within and between organizations. Through this effort, management scholars have offered valuable insights in areas such as absorptive capacity, knowledge recombination, and the emergence of innovation networks and ecosystems. This chapter proposes exploring the evolution of this work and the prospects for future research by examining three important themes: the socially constructed nature of knowledge, the ever increasing trend toward knowledge complexity, and the emergence of machine learning as a vital tool for technological innovation. This field has a tremendous opportunity to adapt and improve our theories by reconsidering the traditional roles and boundaries of organizations, while employing new methods of analysis that are better suited to this changing landscape. Strategic management scholars may then play an important role in highlighting the path for social benefit through the creation and sharing of knowledge.

scholarly journals Strategic maritime management as a new emerging field in maritime studies

2018 ◽  
Vol 3 (3) ◽  
pp. 290-313 ◽  
Author(s):  
Ping Wang ◽  
Joan Mileski
Keyword(s):  
Strategic Management ◽  
Academic Discipline ◽  
Future Research ◽  
Maturity Model ◽  
Content Type ◽  
Evolution Path ◽  
Maritime Studies ◽  
Dynamic Perspective ◽  
Future Research Directions ◽  
Evolutionary Paths

Purpose This study aims to promote strategic maritime management as a new emerging discipline to foster research in strategic maritime issues. Design/methodology/approach An existing academic discipline maturity model is adapted by including four phases of dynamic evolutionary paths to evaluate the phase of maturity of a research discipline. The model is validated by means of two matured disciplines: strategic management and maritime economics. Findings It is found that the current research of strategic maritime management is at a phase of emergence of discipline and ready to move to the maturity phase. It is also found that the evolution of the path of strategic maritime management resembles the early evolution path of strategic management but lags 30 years behind. Future research directions of strategic maritime management can be referred to the research streams in the maturity phase of strategic management. Research limitations/implications The adapted academic discipline maturity model brings in the longitudinal and dynamic perspectives of the evolution of an academic discipline, which helps maritime strategists identify gaps and opportunities and evaluate the appropriateness of applying a strategic management paradigm to a specific research topic. Originality/value The adapted academic discipline maturity model brings in the longitudinal and dynamic perspective of the evolution of an academic discipline, which helps maritime strategists define the gaps and opportunities in strategic maritime management research.

The concept of organisational projectification: past, present and beyond?

2019 ◽  
Vol 12 (3) ◽  
pp. 565-577 ◽  
Author(s):  
Harvey Maylor ◽  
Virpi Turkulainen
Keyword(s):  
Future Research ◽  
Discussion Paper ◽  
Research Directions ◽  
Policy Makers ◽  
Content Type ◽  
Recent Developments ◽  
Organisational Process ◽  
Future Research Directions ◽  
Published Research ◽  
Practical Implications

Purpose The purpose of this paper is to reflect on the past 25 years of the research on projectification, focusing especially on organisational aspects of projectification, as well as to discuss recent developments and potential future research directions. Design/methodology/approach This is a discussion paper, which draws on previously published research and data. Findings The first section identifies contexts in which projectification has taken place (projectification of) and the organisational process by which this has taken place (projectification through). Using an illustrative example based on publicly available data, the second section shows an extension of the organisational phenomenon, referred to as advanced organisational projectification. The paper concludes with a synthesised framework of organisational projectification. Research limitations/implications The paper provides a personal reflection and commentary and is focused on the conceptualisation of the term rather than an all-encompassing study of projectification. Based on the discussion, the paper presents a synthesised view of organisational projectification as well as directions for future research to advance the understanding of projectification. Practical implications The study has implications for policy-makers in the design of the process of ongoing projectification and provides illustrations and a warning concerning the assumptions that are made as an organisation advances in its projectification. Originality/value This paper provides an elaboration of one of the focal concepts of project studies, extending some of the key elements of project management research.

scholarly journals The impact of the interaction between an entrepreneurial marketing orientation and coopetition on business performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
James M. Crick ◽  
Masoud Karami ◽  
Dave Crick
Keyword(s):  
Financial Performance ◽  
Business Model ◽  
Structural Equation ◽  
Small Firms ◽  
Business Models ◽  
Performance Outcomes ◽  
Content Type ◽  
Entrepreneurial Marketing ◽  
Marketing Orientation ◽  
The Impact

PurposeCertain small businesses do not possess the assets needed to implement a performance-enhancing entrepreneurial marketing orientation (opportunity-driven behaviours focussed on creating value for customers). Although some entrepreneurs cooperate with their competitors (coopetition) to achieve their day-to-day and long-term goals, it is unclear whether these partnerships are advantageous in this capacity. Thus, grounded in the resource-based view, the purpose of this investigation is to examine whether coopetition positively moderates the relationship between an entrepreneurial marketing orientation and financial performance.Design/methodology/approachSurvey responses were obtained from 184 small tourism and hospitality organisations in New Zealand. Following a series of robustness checks, covariance-based structural equation modelling was used to test the elements of the conceptual model.FindingsUnique insights illustrate an entrepreneurial marketing orientation yielding a negative and significant link with financial performance. Nevertheless, this result was potentially related to the entrepreneurial marketing-oriented opportunities that owner-managers pursued within the context of their sector; in particular, situations when employing an individualistic business model constrained certain decision-makers' ability to pursue “growth-oriented” objectives. However, coopetition produced a positive and significant moderating effect, enabling owner-managers to pursue opportunities via collaborative business models facilitating mutually beneficial performance outcomes.Practical implicationsOwner-managers of under-resourced small firms should be careful when implementing entrepreneurial marketing strategies utilising an individualistic business model. For example, they might pursue opportunities that are not viable and/or become over-loaded with market intelligence that they cannot handle. By collaborating with competitors, owner-managers can learn improved ways to operate within their industries, alongside being equipped with new resources and capabilities. In doing so, coopetition can help overcome some of the potential performance-limiting issues owner-managers face by being under-resourced, namely, via employing a collaborative business model.Originality/valueThis current study contributes to the extant literature by evaluating the complexities of entrepreneurial marketing practices. That is, although earlier research has focussed on the performance-driving outcomes of an entrepreneurial marketing orientation, prior studies typically overlook certain moderating factors that could influence this association. By examining the interaction between an entrepreneurial marketing orientation and coopetition on financial performance, new evidence has emerged on how owner-managers of small firms can utilise interfirm collaboration to succeed within their markets, as opposed to struggling to cope with the challenges of an individualistic business model. Specifically, an entrepreneurial marketing orientation is likely to enhance financial performance when under-resourced companies effectively collaborate with their competitors.

COVID-19 and public policy and entrepreneurship: future research directions

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vanessa Ratten
Keyword(s):  
Public Policy ◽  
Crisis Management ◽  
Future Research ◽  
Research Directions ◽  
Content Type ◽  
Entrepreneurial Marketing ◽  
Entrepreneurial Behaviour ◽  
Future Research Directions ◽  
Points Of View ◽  
New Research

PurposePublic policy has been an integral part of the response mechanisms used to manage the COVID-19 crisis. As a result, greater attention has been placed on policy planners in terms of how they can enact entrepreneurial ideas that help to alleviate the turmoil surrounding the COVID-19 pandemic. In this article, the crisis management literature is utilised as a way of understanding future research directions regarding entrepreneurial behaviour in the COVID-19 pandemic.Design/methodology/approachA review of the existing research on crisis management is conducted with the aim of identifying future research trends. Thus, this article will enable a better understanding of potential future research tracks such as (1) the consequences of the crisis, (2) environmental context, (3) empirical advancement and methodological change, (4) entrepreneurial marketing and branding, (5) crisis management, (6) policy and governance and (7) stress and wellbeing.FindingsThere a numerous ways research on COVID-19 can make theoretical, empirical and policy advancement. Therefore, an interdisciplinary perspective is required in order to consider alternative points of view regarding the link between COVID-19, entrepreneurship and public policy.Originality/valueThe ways research on COVID-19, entrepreneurship and public policy can be advanced are discussed in relation to the identified research tracks but also potential theoretical implications for new research.

Are growth-oriented SMEs more likely to adopt market and brand orientations?

2014 ◽  
Vol 21 (2) ◽  
pp. 250-264 ◽  
Author(s):  
Helen Reijonen ◽  
Szandra Párdányi ◽  
Sasu Tuominen ◽  
Tommi Laukkanen ◽  
Raija Komppula
Keyword(s):  
Design Methodology ◽  
Small Firms ◽  
Firm Growth ◽  
High Growth ◽  
Capital Adequacy ◽  
Brand Orientation ◽  
Content Type ◽  
Strategic Orientations ◽  
Positive Effect ◽  
Intention Group

Purpose – The purpose of this paper is to examine how SMEs with varying growth intentions differ from each other with regard to market orientation and brand orientation. Both of these strategic orientations are seen to lead to enhanced market performance. Consequently, the authors investigate whether those small firms that regard growth as an important goal have adopted market or brand orientation. Design/methodology/approach – Responses from 492 SMEs were analysed. They were clustered into four groups according to their growth intentions. These groups included firms that have low growth intention, capital adequacy growth intention, expansion growth intention and high growth intention. ANOVA was used to explore whether these groups differed in their market or brand orientation. Findings – The results indicate that the higher growth intention group the SME belonged to the more market and brand oriented it is. The biggest differences between the SMEs were found with regards to brand orientation. Research limitations/implications – The findings suggest that SMEs have acknowledged the positive effect of market and brand orientations on firm growth, thus highlighting the importance of supporting growth-oriented SMEs in their quest to become more market or brand oriented. Originality/value – The study sheds more light on the little researched themes of market and brand orientations in the context of SMEs. It also offers insights into how growth intentions affect the adoption of different strategic orientations.

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