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Book part
Publication date: 15 March 2022

Peter Wyer, Bob Barrett and Konstantinos Biginas

The purpose of this chapter is to examine what small business strategic management and long-term planning involves as practised by successful growth-oriented small businesses. The…

Abstract

Chapter Contribution

The purpose of this chapter is to examine what small business strategic management and long-term planning involves as practised by successful growth-oriented small businesses. The aim is to provide insight into the strategic learning, control and development processes, including indicative detail of the underpinning day-to-day practices and actions that make up those processes. Key focus is the overall strategic control activity of more progressive owner managers and their use of an idiosyncratic mentally held ‘strategic planning and thinking framework’ that guides and informs strategic decision-making, strategic adjustment to existing markets, products and processes activities and long-term strategic direction.

The research approach is underpinned and informed by personal construct theory which gives emphasis to the highly complex nature of the task of small business strategic control and highlights the need for a creative and innovative research methodology to facilitate close and detailed investigation of the phenomenon. To this end, a multidisciplinary case study research methodology was developed by the authors to underpin examination of strategic development and planning within micro-, small- and medium-sized businesses.

The chapter enhances understanding of small business strategic management practice in growth-achieving micro and small enterprises. The findings of this research, whilst demonstrating the key role of entrepreneurial learning in small firm strategic control of the uncertain external environment, also provides a multidimensional lens through which to dissect and better understand the small firm strategy development process – drawing upon and integrating grains of truth from the differing schools of management thought embedded in the literature.

The findings of this study also facilitate the addressing of the ‘black box’ of hazy insight within the literature which fails to reveal micro-level fine detail understanding of the managerial and organisational actions and activities that make up strategy process. The authors commence provision of such black box insight within this chapter – this as lead-through to the follow-on chapter which affords specific attention to enhancing understanding of the micro-level fine detail minutia of managerial, organisational and work activities that make up strategy process within small businesses.

The research is of a comparative dimension focussing on small business development within the developed economy context of the UK, the emerging economy contexts of Malaysia and Ghana and the transitional economy contexts of Russia. Thus, time and resource limitations bound the studies.

Details

Small Business Management and Control of the Uncertain External Environment
Type: Book
ISBN: 978-1-83909-624-2

Article
Publication date: 23 January 2023

Shekhar and Marco Valeri

This paper aims to map the knowledge management research in small businesses and suggest future actions to strengthen managerial practices. Knowledge management practices foster…

1234

Abstract

Purpose

This paper aims to map the knowledge management research in small businesses and suggest future actions to strengthen managerial practices. Knowledge management practices foster the growth of small businesses. They allow innovation to grow within the institutions, enhance customer satisfaction and reduce employee absenteeism and attrition.

Design/methodology/approach

The study adopts a bibliometric protocol to retrieve the 686 articles published in the Web of Science (WoS) database. The WoS database is selected to ensure only quality and peer-reviewed publications are analysed in the study. It then identifies the top contributions, and existing thematic areas, and suggests future research and policy actions for boosting economic growth through small business. The study uses VOSviewer, Science of Science (Sci2) and Gephi to conduct the bibliometric and network analysis.

Findings

The results from keyword co-occurrence and co-citation analysis helps in identifying thematic areas. The findings highlight that there exist five major themes in knowledge management research for small businesses. The dynamic co-citation analysis helps in tracing the evolution of these clusters and suggests future themes, research directions and methodological advances in the theme. PageRank analysis helps in identifying the top articles published on high-impact journals in the theme.

Research limitations/implications

The study helps researchers by summarising existing literature and identifying key thematic areas. It also assists policymakers by recommending actions to improve knowledge management practises in small businesses to gain a competitive advantage. The paper suffers from the limitations of bibliometric analysis. The sample is collected from a single data source and a single type (journal articles) and the statistical accuracy of the analysis depends on the quality of the sample.

Originality/value

The study’s originality lies in using fit-for-purpose software in clustering the research and suggesting actions. To the best of the authors’ knowledge, this study is one of its kind in applying bibliometrics in studying and covering several aspects of knowledge management in small businesses with a combination of software.

Details

European Business Review, vol. 35 no. 5
Type: Research Article
ISSN: 0955-534X

Keywords

Article
Publication date: 28 June 2011

Ian Laird, Kirsten Olsen, Leigh‐Ann Harris, Stephen Legg and Melissa J. Perry

The aim of this paper is to present the literature which identifies the characteristics of small enterprises and outlines the opportunities to utilise them in working with small

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Abstract

Purpose

The aim of this paper is to present the literature which identifies the characteristics of small enterprises and outlines the opportunities to utilise them in working with small businesses to prevent and reduce exposures to hazardous substances.

Design/methodology/approach

A search of a variety of data sources, including Medline, PubMed, Web of Science, Google Scholar, was conducted which combined the keyword search terms “small business”, “small enterprise”, “management”, “health and safety management”, “hazardous substances”, “hazardous chemicals”, “management of hazardous substances”. High quality studies were selected and combined with studies known to the authors.

Findings

A strong body of evidence exists which shows that the management of OSH in small enterprises has been extensively reviewed and the most recurring theme is the identification of problems and challenges. A growing body of literature also confirms that models for chemical risk management and social responsibility issues can play a key role in managing hazardous chemical exposures in small enterprises. Furthermore, studies have shown that there are certain characteristics of small business that potentially provide positive opportunities for the implementation of preventive interventions.

Originality/value

The paper identifies these characteristics and features and suggests these can be effectively utilised in the design and development of interventions to prevent and reduce exposures to hazardous substances in small enterprises. Few interventions, however, have been developed utilising these positive characteristics.

Details

International Journal of Workplace Health Management, vol. 4 no. 2
Type: Research Article
ISSN: 1753-8351

Keywords

Article
Publication date: 1 November 1997

Gerald Vinten, David A. Lane and Nicky Hayes

There can be no doubt that the small and medium sized enterprise (SME) plays a pivotal role in most if not all economies, and that social policy makers have an interest in…

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Abstract

There can be no doubt that the small and medium sized enterprise (SME) plays a pivotal role in most if not all economies, and that social policy makers have an interest in ensuring the viability of this sector of the economy, which plays a crucial role in the contract culture of national and international competitiveness. Quite apart from the essential symbiosis between the large multinationals and public limited companies and this sector, the sustainability of unemployment benefit payouts would be jeopardised should the sector experience a significant downturn. There are already worldwide concerns about the ability to continue to finance state pensions at anything like the present scale, and any loss of viability of the SME sector will simply exacerbate this situation. There are also useful reciprocations to be achieved by comparisons across sectors, including in significant areas such as internal control (Vinten, Lane, Hayes, 1996). The recent flurry of activity has included initiatives of the Institute of Chartered Accountants of England and Wales 1996) and the information needs of owners (Institute of Chartered Accountants of England and Wales 1996a), an Auditing Practices Board (1996) Practice Note, and a Department of Trade and Industry Consultation Document (DTI 1996).

Details

Management Research News, vol. 20 no. 11
Type: Research Article
ISSN: 0140-9174

Article
Publication date: 1 May 1983

Allan A. Gibb

One result of the recent upsurge of national, and indeed international, political interest in the small firm sector of the economy has been a focus on the role of management

Abstract

One result of the recent upsurge of national, and indeed international, political interest in the small firm sector of the economy has been a focus on the role of management training and development in the small firm and on the wider, but related, issue of education and training for entrepreneurship. The basis for this renewed government attention seems to lie in recognition of the employment potential of small firms rather than in the contribution that training and education might make to productivity and efficiency. Added to the weight of official concern is pressure from individuals who, without the early possibility of becoming an employee, are being forced to look to their own resources and initiative. It is, therefore, scarcely surprising that much of the recent stimulus to small firms training has come from government training schemes and, in the UK, from local community‐based ventures aimed at improving local job prospects. The accent in the UK has been on encouraging the new small business start up.

Details

Journal of European Industrial Training, vol. 7 no. 5
Type: Research Article
ISSN: 0309-0590

Content available
Article
Publication date: 3 April 2018

Karen A.F. Landale, Aruna Apte, Rene G. Rendon and Javier Salmerón

The purpose of this paper is to show how data analytics can be used to identify areas of potential cost savings for category managers of installation-level services. Using…

4511

Abstract

Purpose

The purpose of this paper is to show how data analytics can be used to identify areas of potential cost savings for category managers of installation-level services. Using integrated solid waste management (ISWM) as a test case, the authors also examine the impact of small business set-asides on price and contractor performance.

Design/methodology/approach

The authors use data analytics, specifically sequential regression, the Wilcoxon rank-sum test and ordered logistic regression to investigate the influence of service- and contracting-related variables on price and contractor performance.

Findings

The authors find that service- and contracting-related variables influence price. Specifically, they identify that a service-related variable, number of containers, significantly affects price, and that two contracting-related variables, one type of small business set-aside and the number of offers received, also significantly affect price. The authors quantify the price premiums paid for using various types of small business set-asides.

Research limitations/implications

Although the findings were significant, the authors believe that the robustness of the conclusions could be enhanced if the Air Force captured more data. Additional observations would increase the generalizability of the results.

Practical implications

This empirical experiment demonstrates that detailed analyses are required to gain insights into services’ price drivers to craft more appropriate category management strategies for installation-level services.

Originality/value

This empirical study shows how historical data can be used to assess price drivers of installation-level services. It is also one of the first to quantify the impact that small business set-asides have on price.

Details

Journal of Defense Analytics and Logistics, vol. 1 no. 2
Type: Research Article
ISSN: 2399-6439

Keywords

Article
Publication date: 1 June 1999

Andrew Thomson and Colin Gray

This paper examines statistically the determinants of management development in small businesses, based on the results of a survey of 389 small businesses carried out in 1996…

3488

Abstract

This paper examines statistically the determinants of management development in small businesses, based on the results of a survey of 389 small businesses carried out in 1996. Generally, the immediate issues concern the factors that influence the development of owners and managers of growing and sustainable small businesses, considered by many to be the source of future innovation and jobs in both developed and developing economies. More particularly, the survey is part of a wider investigation into management development in Britain, and the paper parallels a previous analysis of statistical determinants based on a survey of larger businesses. While entrepreneurship has received a lot of attention in small business research, comparatively little attention has been paid to the development of management competencies in small firms. In the study reported here, regression analyses were used to develop a more detailed understanding of the factors which shape the amount and nature of management development in small businesses. The key research questions, in line with the previous analysis, are: (1) what are the relative importance of environmental and structural factors on the one hand, and strategic factors such as internal management development policy on the other, in explaining the amount and value of management development activity? (2) what does this tell us about the degree to which management development is determined by choice or circumstance? (3) what are the “drivers” of management development and their relative significance? (4) what factors are most influential in assessing the achievement of management development objectives?

Details

Journal of Small Business and Enterprise Development, vol. 6 no. 2
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 4 November 2013

Frederick Ng, Julie A. Harrison and Chris Akroyd

The purpose of this paper is to develop a framework for the systematic examination of management accounting practices in small businesses using a revenue management perspective…

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Abstract

Purpose

The purpose of this paper is to develop a framework for the systematic examination of management accounting practices in small businesses using a revenue management perspective. This highlights the multi-faceted nature of size as a contextual factor and emphasises the role of management accounting in supporting profit-oriented decision-making, rather than its traditional role of co-ordination, control, and accountability.

Design/methodology/approach

The framework is theoretically derived from the management accounting, revenue management, and small business literature. An illustrative case study of a small fast-food business is presented to demonstrate the applicability of this framework to practice.

Findings

The paper identifies that various dimensions of business size have different and sometimes opposing effects on management accounting practices. Given heterogeneity is a common feature of small businesses, the framework considers alternative specifications of the size contingency variable.

Research limitations/implications

The synthesis of small business characteristics and revenue management perspective offers a more incisive understanding of what has traditionally been considered a simple practice. The case study illustrates some of the influences of small business characteristics identified in the framework. Given its narrow scope, the findings are used for theorisation rather than offering generalisable results. Further cross-sectional comparisons of small businesses are needed to confirm size influences.

Practical implications

The framework can assist practitioners to gauge the strengths and weaknesses of their management accounting practices and can help assess the value of adopting more sophisticated management accounting practices, given their particular business environment. A synthesis of these small business attributes can help practitioners identify key barriers to implementation.

Originality/value

The revenue management perspective and the inclusion of key characteristics of small businesses provide a new approach to evaluating management accounting practices in small businesses.

Details

Meditari Accountancy Research, vol. 21 no. 2
Type: Research Article
ISSN: 2049-372X

Keywords

Book part
Publication date: 15 March 2022

Peter Wyer, Antonia Koumproglou and Shaun Bowman

The purpose of this chapter is to further flesh out the small business strategy insight presented in the previous chapter through focus on the finer micro detail of what is…

Abstract

Chapter Contribution

The purpose of this chapter is to further flesh out the small business strategy insight presented in the previous chapter through focus on the finer micro detail of what is actually done and by who in small business strategic management practice. The authors build forward their previous chapter response to deficiencies of understanding within the strategy and small business literatures, through provision of rich, thick description of best small business strategic management process and practice. And shine a brighter light into what has to date been a ‘black box’ of haze with regard to the fine detail and minutia of managerial, organisational and work activities that make up strategy process and content.

As in the previous chapter, the research approach is underpinned and informed by personal construct theory which gives emphasis to the highly complex nature of the task of small business strategic control and highlights the need for a creative and innovative research methodology to facilitate close and detailed investigation of the phenomenon.

This chapter is of significant practical relevance: offering guiding lenses and informing frameworks with regard to best small business strategic management process – and making explicit the micro-level actions, activities and behaviours which make up that process. These guiding frames are already being used to support growth-seeking owner managers in the UK and Africa. The knowledge base embraces original, valuing-adding work which addresses a major void in the current strategic management and small business literatures and is currently being utilised to help address unemployment and facilitate poverty reduction in Africa and underpin entrepreneurship development worldwide.

Details

Small Business Management and Control of the Uncertain External Environment
Type: Book
ISBN: 978-1-83909-624-2

Book part
Publication date: 9 August 2017

Richard D. Johnson and Kristina Diman

The purpose of this study was to develop and empirically examine a model of cloud-based human resource information systems (HRIS) adoption by small businesses based on the…

Abstract

Purpose

The purpose of this study was to develop and empirically examine a model of cloud-based human resource information systems (HRIS) adoption by small businesses based on the technology–organization–environment model (Tornatzky & Fleischer, 1990).

Methodology/approach

This study utilized a survey of 41 small- to medium-sized enterprises in the northeastern United States to examine what HR functions were being supported by cloud-based HRIS and the relationship between three technology factors, three organizational factors, and three environmental factors, and their relationship with the adoption of cloud-based HRIS.

Findings

Findings indicated that small businesses are most likely to implement cloud-based HRIS to support day-to-day HR operations. In addition, the findings indicated that top management support (positive), vendor support (positive), and anticipated growth (negative) were each related to organizational adoption of cloud-based HRIS.

Implications

The study illustrates how the adoption of a cloud-based HRIS is motivated by different factors than those underlying the adoption of other types of information systems. Executives and small business owners will need to adapt their strategy when considering cloud-based HRIS compared to other types of systems.

Social implications

Given that small- to medium-sized organizations are the backbone of most global economies, findings from this study can help support society by helping these businesses better understand how to best consider the factors that will support the implementation of cloud-based HRIS.

Originality/value of the chapter

This chapter represents one of the first to empirically validate a model of the factors affecting adoption of cloud-based HRIS by small businesses.

1 – 10 of over 182000