OWNER-MANAGER STRATEGIES
Date
2011-06-08
Authors
Poulos, Nicolette
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Abstract
In recent years small businesses have contributed to countries economies through
increased production and turnover. Growth in small businesses can play a key role in
adding value for the economy because growth stimulates employment and wealth
creation which contributes to national employment growth and increased output. The
small business owner-manager and employees in a growth business also achieve a
sense of self-fulfilment and independence.
The world is constantly changing as a result of globalisation, increased competition,
industry consolidation and technological advancements. Many small businesses are
experiencing significant growth problems and are unable to grow beyond micro
business stage because they do not have the resources to grow in the ever-changing
environment. Owner-managers are still in search of greater assistance to grow small
firms and pinpoint factors which guide growth and success. The purpose of this
research was to determine the internal factors that contribute to small business
growth and understand the growth strategies that can be applied to grow beyond
micro-business stage.
In-depth interviews for three case studies were conducted. It was found that there
appears to be a pattern for growth beyond micro-business stage. It seems that
growth beyond micro-business stage can be achieved when there is a positive
influence of the internal growth factors on the business. It was also found that there
are many small business growth strategies that can be applied to counter balance
the negative influences of growth. The research should be of value to ownermanagers
seeking insight from what is necessary to achieve growth and what
strategies to employ for business growth.
Description
MBA - WBS
Keywords
Growth strategies, Small businesses, Micro businesses