Becoming Strategic in Small Businesses

2014 ◽  
pp. 160-179
Author(s):  
Colleen E. Mills
Keyword(s):  
New Zealand ◽  
Small Business ◽  
Strategic Management ◽  
Small Businesses ◽  
Strategic Intent ◽  
Business Startup ◽  
Relational Process

While strategy has been described as a plan or pattern of actions aligned to a conscious intent, it can also be conceptualised as the deliberate activities those in business engage in to realise a strategic intent. It is this activity oriented conception of strategy that is fuelling the turn towards practice in strategy scholarship. This chapter draws on this perspective and the ‘communication as constitutive of organisations' (CCO) perspective to explore what is involved in becoming strategic in an active and experiential sense in a small business. To do this, it uses illustrations from a series of studies of business startup or restart from the creative, ICT, and construction industries in New Zealand. The empirically-based synthesis presents strategic management in small businesses as a relational process producing a narrative infrastructure that weaves together episodes of strategy praxis to produce a coherent thread that ‘tells the firm forward' (See Deuten & Rip, 2000). The chapter finishes by briefly exploring the implications of this view for those seeking to become more strategic in small businesses.

scholarly journals MARKETING SUBSTANTIATION, ORGANIZATIONAL AND ECONOMIC CHARACTERISTICS OF SMALL BUSINESS IN THE PROVISION OF HOTEL SERVICES

2021 ◽  
Vol 4 (39) ◽  
pp. 439-450
Author(s):  
S. Pambuk ◽  
I. Ustenko ◽  
M. Mardar
Keyword(s):  
Small Business ◽  
Strategic Management ◽  
Business Model ◽  
Financial Reporting ◽  
Small Businesses ◽  
Business Models ◽  
Methodological Approach ◽  
Business Plan ◽  
Local Market ◽  
Regional Market

Abstract. The article proposes a business model for the development of small business in the regional market of services in Ukraine on a generalized methodological approach; the main aspects and parameters of development of hotel services are revealed. The main purpose of the research is to develop a methodological approach to marketing substantiation, organizational and economic characteristics and management of a small business to provide hotel services on the example of a hostel. Systematization of literature sources and approaches to solving the problem of using strategic management for local small businesses indicates the need to develop a universal business model for the development of hospitality services, taking into account the characteristics of the regional market and other important factors. After all, thanks to a well-chosen for a specific time and a specific market environment, the business models of the company achieve a stable competitive advantage. The rapidity of market changes in the economy of Ukraine and the spread of entrepreneurship actualize the creation of effective algorithms and methods of approach to marketing justification and strategic management of small businesses. The object of research is the business model of future business in terms of implementing a business idea for the local market. The research was carried out using modern general scientific and special methods: business idea map, PEST-analysis, Osterwalder’s business model, determination of business value by cost, income and market approaches, sensitivity analysis to determine the degree of business risk. The information base of research consisted of statistical and organizational, financial reporting of small businesses for the provision of hotel services. As a result of the research, an algorithm for opening and analyzing the work of small businesses to provide hotel services on the example of a hostel was developed. The methodical approach consists of stages: development of a map of a commercial idea; analysis of a potential commercial idea and problems that can be solved in the case of implementation of this commercial idea; consolidated PEST analysis; description of the model of consumer service behavior of hotel services; analysis of project business competitors; drafting a practical philosophy of small business; drawing up a business model of a small project enterprise; resource substantiation; project risk assessment. The proposed methodological approach can be applied to develop a business plan for small business opening a hostel for the development of the regional market of services. Keywords: business plan, marketing plan, card of the business idea, degree of risk of business, hostel, outline of Osterwalder’s business model, PEST analysis. JEL Classification M31, М21, R15, R30 Formulas: 0; fig.: 1; tabl.: 6; bibl.: 23.

scholarly journals How market orientation induces small business performance: The role of strategic fits

2021 ◽  
Vol 23 (1) ◽  
pp. 55
Author(s):  
Quang-Huy Ngo
Keyword(s):  
Small Business ◽  
Strategic Management ◽  
Market Orientation ◽  
Small Businesses ◽  
Business Performance ◽  
Mediating Effects ◽  
Management Literature ◽  
Theory Of Organization ◽  
Small Business Performance

The purpose of this study is to shed light on how strategic fits between market orientation and the prospector strategy leads to higher performance of small businesses in Vietnam. This study draws from the contingency theory of organization to propose that strategic fits in small businesses represent by prospector strategy's mediating effects on the link between market orientation and these small businesses' performance. Data collected from 161 small businesses in Vietnam was examined. PLS-SEM was used to assess the research framework. The results reveal that the fit between market orientation and the prospector strategy, represented by the full mediating effects of this strategy, is essential to determine the performance improvement of small businesses in Vietnam. For the findings, this study provides some practical implications for small business owners in Vietnam. This study also contributes to the strategic management literature by providing empirical evidence, which suggests the strategic fits between prospector strategy and market orientation induces performance. This study also overcomes the limitations relating to the proposals of the analytic framework to assess strategic fits. Lastly, this study extends to strategic management literature by examining the role of strategic fit in small businesses' contexts.

scholarly journals THE EFFECT OF KNOWLEDGE MANAGEMENT ON THE STRATEGIC MANAGEMENT PROCESS MEDIATED BY COMPETITIVE INTELLIGENCE IN THE SMALL BUSINESS COMPANY

2018 ◽  
Vol 20 (2) ◽  
Author(s):  
Didi Sundiman
Keyword(s):  
Knowledge Management ◽  
Small Business ◽  
Strategic Management ◽  
Small Businesses ◽  
Research Question ◽  
Mediation Effect ◽  
Competitive Intelligence ◽  
Management Process ◽  
Use Of Knowledge ◽  
Strategic Management Process

The purpose of this study is to discuss the synergic and separate use of knowledge management and competitive intelligence in stage of strategic management process. This study presents two independent variables (knowledge management and competitive intelligence) and one dependent variable (strategic management process). 145 samples from Indonesia small businesses considered valid, thereby indicating 88.41% validity rate. The results show that the proposed variable, Knowledge management and competitive intelligence significantly influences strategic management process from the perspective of the small business in West Indonesia. This result implies a lack of mediation effect presented by the competitive intelligence. This finding clarifies the research question that knowledge management and competitive intelligence are associated with strategic management process

scholarly journals Absenteeism in the Small Business Sector

1970 ◽  
Author(s):  
Felicity Lamm
Keyword(s):  
New Zealand ◽  
Small Business ◽  
Case Studies ◽  
Small Businesses ◽  
Business Case ◽  
The Other ◽  
Business Sector ◽  
Employment Practices ◽  
Precarious Employment ◽  
Worker Absenteeism

In spite of the fact New Zealand small businesses represent over 90 percent of the business population there has been little research and scant discussion regarding absenteeism in small businesses. The implication is that absenteeism in the small business sector is similar to that experienced by large businesses and therefore does not warrant special attention. Based on data gathered from 65 New Zealand small business case studies since 1990 onwards, this paper attempts to outline the issues surrounding absenteeism in the small business sector within the context of the ECA employment environment. It is understood that any discussion on absenteeism cannot be separated from the employment issues surrounding worker injury and illness as one is the consequence of the other. It is also argued that worker absenteeism in small businesses is the action of last resort for the following reasons: lack of compliance and enforcement small business employment practices; precarious employment and the employment environment.

scholarly journals Sustaining small businesses in emerging economies: an examination of the pre and post startup ramifications

2017 ◽  
Vol 15 (1) ◽  
pp. 227-236 ◽  
Author(s):  
Chux Gervase Iwu
Keyword(s):  
South Africa ◽  
Small Business ◽  
South African ◽  
Small Businesses ◽  
Structured Interview ◽  
Small Business Owners ◽  
Business Startup ◽  
Growth Constraints ◽  
Small Business Growth ◽  
Almost All

Set in the Western Province of South Africa, this study is centred on a group of small business owners who received financial support from a leading South African business developer. The main aims were to obtain from the recipients what they envisaged as their main challenges, and to compare those challenges at a later stage to get a better understanding of the real challenges of small business pre and post startup. The ultimate benefit will be to report on these to inform practitioners and researchers so that every stakeholder can have a fresher insight into this phenomenon with the hope that much more concrete discussions and interventions may emerge. This longitudinal study adopted the mixed method, specifically the use of a questionnaire and a semi-structured interview schedule. This method enabled the researcher to gain a better understanding of the issues at play with respect to first time recipients of funds, as well as engage intimately with them in order to obtain salient information regarding challenges of small business pre and post business startup. Interestingly, most participants indicated that almost all the items in the questionnaire were major challenges. This study should not only generate the necessary discussions among practitioners and scholars on small business growth constraints in South Africa, but, at the same time, uncover through such discussions, some of the undocumented challenges of small businesses in emerging markets so that the chances of survival of small businesses beyond the 2-3 year mark are improved.

scholarly journals Nikitina Strategic Management of Sustainable Development of Small Business Enterprises

REGIONOLOGY ◽  
2021 ◽  
Vol 29 (2) ◽  
pp. 306-327
Author(s):  
Nadezhda D. Guskova ◽  
Alexandra V. Erastova ◽  
Daria V. Nikitina
Keyword(s):  
Sustainable Development ◽  
Small Business ◽  
Strategic Management ◽  
Development Strategy ◽  
Small Businesses ◽  
Swot Analysis ◽  
Financial Economic ◽  
Successful Implementation ◽  
Final Assessment ◽  
Business Enterprises

Introduction. The globalization of the economy and the introduction of the concept of sustainable development largely determine the development strategy of both large and small businesses. Adherence to the principles of sustainable development is becoming a prerequisite for organizations to develop, increase competitiveness and attractiveness for stakeholders. The purpose of the study is to elaborate the stages of formation of strategic management of sustainable development of small business enterprises. Materials and Methods. An analysis of the financial, economic, environmental and social components of sustainability of JSC Leader-Compound was performed as a case study. The company's financial statements for 2012–2019 as well as the results of the survey conducted among the management staff were used as the materials for the study. The expert method was employed to determine the final assessment of compliance of JSC Leader-Compound with the features of strategic management of sustainable development of small and medium-sized enterprises. The employed method of strategic analysis (SWOT analysis) made it possible to identify the strengths and weaknesses of the company, as well as threats and opportunities. Results. The results of a comprehensive analysis of the components of sustainable development of JSC Leader-Compound made it possible to conduct a final assessment of the compliance of this enterprise with the features of strategic management of small and medium-sized businesses. A sufficiently high level of development of the strategic management of JSC Leader-Compound has been noted, and reserves for its improvement have been determined. An algorithm for the process of development and implementation of a strategy for sustainable development of the company has been proposed. Methodological recommendations have been substantiated for each stage of the process. To calculate the generalized integral indicator of the level of sustainable development, a mathematical model has been proposed that takes into account the components of sustainable development of the company. Discussion and Conclusion. The proposed process of development and implementation of a strategy for sustainable development of a small business will make it possible not only to form a strategy based on the components of sustainable development, but also to ensure the possibility of its successful implementation. The research results may contribute to both practical activities of other small businesses, and further scientific research of the features of managing the sustainable development of small enterprises in other lines of business.

Strategic management of innovative and investment business development in crisis of economic conditions

2021 ◽  
Vol 2 (99) ◽  
pp. 59-69
Author(s):  
A. O. Revutska ◽  
◽  
Y. А. Tsymbalyuk
Keyword(s):  
Small Business ◽  
Strategic Management ◽  
Small Businesses ◽  
Feedback System ◽  
Business Development ◽  
State Regulation ◽  
The State ◽  
Investment Activity ◽  
Small Business Development ◽  
Management Of Innovation

The article considers the key points of application of strategic management in the management of innovation and investment development of small businesses in the context of state regulation. The purpose of the article is to develop theoretical provisions at developing of strategic principles of innovation and investment development of small business as a tool for implementing socio-economic policy. The influence of the functioning of small business institute and its innovation and investment activity on the socio-economic development of the has been justified. According to the generalization of leading scientists researchеs, it has been noted that the state support of innovation and investment activities of small businesses is extremely important for the development of regions and local communities. The list of problems of objective and subjective nature of small business development at the present stage has been outlined. It has been substantiated the need to develop a long-term policy of the state based on the strategic supporting of innovation and investment component of small business. It has been noted that the strategic supporting of innovation and investment activity of small business is possible provided the development of an appropriate system of strategic management. The main goals of this system has been outlined. It has been determined that the system of strategic management of small business development involves the implementation of strategic measures at the national, regional and municipal levels, each of which determines the list of economic and administrative instruments that will contribute to the effectiveness of state regulation of small business. The basic requirements for the functioning of the system of strategic management of innovation and investment development of small businesses have been developed. The conformity to these criterias will increase the effectiveness of strategic management. The list of tasks to be implemented in the process of functioning of the strategic management system has been determined. It has been established that the process of strategic management of innovation and investment development will be effective on the monitoring basis. It would establish the program measures for support of small business by public authorities and the formation of an effective feedback system between business and government at all levels.

scholarly journals Small Business Startup Funding for Youth Employment in Nigeria

2019 ◽  
Vol 7 (1) ◽  
pp. 35
Author(s):  
Dr. Nana A. Akaeze ◽  
Dr. Christian O. Akaeze
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Business Owners ◽  
Social Progress ◽  
Support Programs ◽  
Small Business Owners ◽  
Structured Interviews ◽  
Youth Leaders ◽  
Business Startup ◽  
Unemployed Youth

<em>Jobs are generated by initiating and growing small businesses within underdeveloped economies. Unemployment among youths is a critical problem confronting Nigeria (Nwogwugwu &amp; Irechukwu, 2015). Unemployment leads to less growth and a drop-in consumer spending. Increased unemployment generates lowered business output. Unemployment results in welfare loss from lowered output, income, and wellbeing which hinder social progress of nations. Nevertheless, unemployed youths with small business initiatives experience financial constraints and lack access to startup capitals. The purpose of this study was to explore experiences of some owners who succeeded despite lack of access to formal and informal sources of initial capitals. Data was collected through semi-structured interviews with 15 small business owners in Lagos who started as unemployed youths. We purposefully selected participants, used thematic for data analysis, NVivo 10 software for coding and interpretation. Findings revealed 3 critical challenges to access initial capitals for startups by unemployed youths including: (a) inability to provide collaterals, (b) Reliance on insufficient private finance and short term overdrafts, and (c) bureaucracy. Result may become basis for future interventions and support programs. Authorities and youth leaders could use information for trainings and support programs to help unemployed youth access startup capitals for small business.</em>

scholarly journals Behavioural factor-based clustering to examine why small businesses choose particular bank: The New Zealand evidence

2019 ◽  
Vol 17 (1) ◽  
pp. 292-305
Author(s):  
Zakaria Boulanouar ◽  
Tahar Lazhar Ayed ◽  
Stuart Locke
Keyword(s):  
Cluster Analysis ◽  
New Zealand ◽  
Small Business ◽  
Small Businesses ◽  
Theory Of Planned Behaviour ◽  
Behavioral Factors ◽  
Planned Behaviour ◽  
Behavioural Factor ◽  
Significant Difference ◽  
Behavioural Factors

In this paper, using the theory of planned behaviour, behavioural and non-behavioural factors underpinning small business’ (SB) choice of a bank are explored. To date, we are unaware of any study that uses a behavioural approach to study bank selection by SBs owner/managers. These factors, discussed in the literature, form the basis of a questionnaire administered in New Zealand. Univariate & bivariate analyses, in addition to cluster analysis of the data, show that behavioral factors, such as knowing a person in the bank, prior personal banking experience and recommendation/referrals, are shown to be most important. Also, after controlling for size, industry, and age of business it is found that there is no statistically significant difference in choice variables. Further, inertia is strong once a bank is chosen and cost, while emphasized, does not trigger actions. A cluster analysis of SB owners/managers produced four different groups. However, all of these groups are affected by the same behavioural factors in their choice of a banking partner.

Assessment of small businesses activities in Ukraine

2019 ◽  
pp. 40-47
Author(s):  
Igor Ponomarenko ◽  
Kateryna Volovnenko
Keyword(s):  
Comparative Analysis ◽  
Statistical Analysis ◽  
Small Business ◽  
Small Businesses ◽  
Government Agencies ◽  
Small Enterprises ◽  
The Subject ◽  
Business Entities ◽  
The Impact ◽  
Micro Enterprises

The subject of the research is a set of approaches to the statistical analysis ofthe activities of small business entities in Ukraine, including micro-enterprises. The purpose of writing this article is to study of the features of functioningof small business entities in Ukraine. Methodology. The research methodology isto use a system-structural and comparative analysis (to study the change in thenumber of small enterprises by major components); monographic (when studyingmethods of statistical analysis of small businesses); economic analysis (when assessing the impact of small business entities on socio-economic phenomena andprocesses in Ukraine). The scientific novelty consists to determine the features ofthe functioning of small businesses in Ukraine in modern conditions. The influenceof the activities of the main socio-economic and political indicators on the activities of small enterprises in recent periods of time has been identified. It has beenestablished that there is flexibility in the development of strategies by small businesses in conditions of significant competition, which makes it possible to quicklyrespond to changing situations in specific markets. Conclusions. The use of acomprehensive statistical analysis of small businesses functioning in Ukraine willallow government agencies to develop a set of measures to optimize the activitiesof these enterprises, which ultimately will positively affect the strengthening oftheir competitiveness and will contribute to the growth of the national economicsystem.

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