Strategy formation and SMEs: The role played by strategy tools

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Considerable awareness of strategic tools among UK SMEs is not reflected in the low usage levels that prevail. In addition, deployment is generally more for operational than strategic purposes. But if firms could overcome the formidable obstacle of resource scarcity and adopt a more structured approach, better exploitation of strategy tools and a focus oriented towards growth rather than mere survival would become possible.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2019), "Strategy formation and SMEs: The role played by strategy tools", Strategic Direction, Vol. 35 No. 9, pp. 1-3. https://doi.org/10.1108/SD-06-2019-0110