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As many businesses faced economic disruption due to the Covid-19 pandemic and sought financial relief, existing bank relationships became critical to getting a loan. This study examines factors associated with the development of personal relationships of rural small businesses with community bank representatives.

We applied a mixed-method approach. We employed descriptive statistics, principal factor analysis and logistic regression for data analysis. We distributed an online survey to rural small businesses in five states in the United States. Key informant interviews with community bank representatives supplemented the survey results.

A business owner’s trust in a banker was positively associated with the establishment of a business–bank relationship. However, an analysis of individual trust’s components revealed that the nature of trust is complex, and a failure of one or more components may lead to decreased trustworthiness in a banker. Small businesses that preferred personal communication with a bank were more inclined to relationship banking.

Due to the relatively small sample size and cross-sectional data, our results may not be conclusive but should be viewed as preliminary and as suggestions for future research. Bankers should be aware of the importance of trust for small business owners and of the actions that lead to increased trustworthiness.

The study extends the existing knowledge on the business–bank relationship by focusing mainly on social (instead of economic) factors associated with the establishment of the business–bank relationship in times of crisis and high uncertainty.

Resource mobilization and technology adoption by small firms are mainly studied separately, although considering them together is crucial for understanding how resources are accessed and mobilized to address uncertainty. Moreover, the authors know little about how small firms pursue new opportunities in a constantly changing environment. The purpose of this study is to investigate how small firms adopt technologies to engage different stakeholders and facilitate the access and mobilization of key resources in the opportunity co-creation process.

This study applied a qualitative case study method and conducted 14 interviews with co-founders or top managers of five small firms in Iran.

The findings reveal how small firms adopt technologies to access and mobilize social, human, psychological and financial resources in a highly uncertain environment to co-create new opportunities.

First, the study applies a cross-sectional approach. Therefore, it does not capture longitudinal aspects that might impact resource mobilization and technology adoption over time. Second, the selected five case firms represent rather successful firms, each of which adopted different technologies to challenge the established structure of the market. That is, this study did not focus on unsuccessful cases that would enrich the theory further.

This study reveals how small firms adopt new technologies to mobilize resources and co-create opportunities in highly uncertain environments. It reveals that small firms employ technology adoption strategies to utilize operant resources and accelerate operand resource mobilization. Active learning plays a critical role in this process.

Even after establishing their business successfully, many business owners get demotivated, and it leads to unwillingness to grow. This study aims to propose a comprehensive model that represents interrelationships among various personal factors affecting “unwillingness to grow.”

The personal factors for unwillingness to grow were identified by extant literature, and expert interviews were conducted to establish the contextual relationships among these factors. The interrelationships among the filtered variables have been done using interpretive structural modeling (ISM) and MICMAC analysis was done to determine the importance of each factor in influencing “unwillingness to grow.”

In total, 30 personal attributes were identified from previous literature, out of which 15 were selected for the final study. The result identifies 7 variables having a strong impact on “unwillingness to grow.” These attributes are “absence of strong network,” “lack of vision,” “lack of proactiveness,” “reluctance to involve external consultants,” “absence of/small founding team,” “lack of ambition” and “improper attitude.”

The research attempts to create a bricolage of all the important personal factors affecting “unwillingness to grow.” Previous researches have used few attributes, but with the help of ISM, a graphical modeling technique, it became possible to draw interrelationship between 15 attributes. Further, with the help of MICMAC, the importance of each attribute was determined.

Based on action regulation theory (ART), this study aims to test the impact of individual entrepreneurial orientation (IEO) training on small business owner career success (financial attainment, satisfaction and achievement). Moreover, this relationship was unpacked through a dual mediation model of IEO behaviour and career resilience.

A four-wave, longitudinal randomized controlled field experiment was conducted in which 527 small business owners participated from Lahore, Pakistan (training group = 256, control group = 271). The data analysis was done via ANCOVAs (group comparison) and PROCESS Model 6 (for serial mediation).

The results demonstrated that after getting IEO training, the small business owners had increased IEO behaviour, career resilience and career success as compared to their counterparts in the control group. In addition, the effect of IEO training on career success was attributed to the underlying role of IEO behaviour and career resilience development.

This is one of the few studies that have demonstrated the impact of IEO training on the career-related outcomes based on the action regulation perspective.

Starred restaurants, as significant outlets for small wineries, present a unique business opportunity. In this context, the sommelier, as a third actor, assumes a pivotal role in shaping the business relationships between these entities. This study, employing a grounded theory approach, delves into the sommeliers’ roles and activities in the initiation of relationships between small wineries and starred restaurants.

A qualitative methodology was adopted. Twenty-four semi-structured interviews, direct observations, and informal conversations with starred restaurants, small wineries, and sommeliers were collected and analysed using an abductive approach.

The findings suggest that the sommelier acts as a contributor to the business relationship initiation between the small winery and the starred restaurant, performing several continuous, simultaneous, and bilateral roles toward both actors.

The study sheds light on the role of wine stewards in the B2B context and provides useful insights to close the theoretical gap between business relationship initiation and the role of third actors.

The purpose of this study is shed light on the underlying forces behind entrepreneurship within a regional innovation system (RIS) in a remote rural region. The authors examine the following questions: Which are the main underlying forces behind the entrepreneurial process in a rural RIS characterized by traditionally low-tech, small-scale businesses? How can the development of a low-tech regional innovation system be conceptualized?

The design of the study is based on entrepreneurship theory. Data analysis followed practices used in phenomenography, a research approach used to analyse and identify commonalities and variations in populations' perceptions of a certain phenomenon. Data are composed using semi-structured interviews and a database composed of company information of all firms in the population.

A proactive mobilization of regional stakeholders and resources can be an important driving force behind the entrepreneurial process and generation of a rural RIS. Innovation can be generated within low-tech industries turning the rural context into an asset. An RIS in a remote rural context can be initiated and orchestrated by regional authorities, but knowledge brokering and orchestration can also be managed by networks of small-scale businesses brought together by mutual benefit and common interests.

Regional innovation systems theory is most often used to study high-tech industries. But by combining regional innovation systems with rural entrepreneurship and entrepreneurship context theory is a fruitful avenue to understand the role of rural entrepreneurship in regional development, even in remote and peripheral regions. Innovation does not need to entail high-tech international environments; it can appear as the result of efforts in low-tech industries in rural and remote environments. The authors’ findings need to be scrutinized; therefore, the authors call for more research on regional innovation systems in rural environments.

It is possible for regional authorities to orchestrate a development process through the actions of a strong regional agent but also by supporting the creation of networks of small businesses that are built on trust and common interests.

This study contributes to the literature with a new perspective to the study of entrepreneurship and of regional innovation systems. Entrepreneurship research with focus on rural contexts most often highlight limits to entrepreneurship and see entrepreneurship as “just running a business”. A perspective that starts from innovation and innovative behaviour, despite the rural context and embedded resources, helps to generate new knowledge that can enrich the understanding of entrepreneurship and also be the foundation for more precise business development policies in rural settings.

Small retail stores in the luxury market face significant challenges due to fluctuations in market demand. This task turns challenging as it requires effectively coordinating and translating customer needs into specific requirements that align with retail goals and available resources. However, limited empirical research exists investigating how managers can address service value and quality attributes in small retail stores. This article aims to bridge this gap by investigating the role of quality function deployment (QFD) in improving market and quality requirements management in small retail stores.

Based on the case study, a customer survey was initially conducted to gather information on critical characteristics valued in the luxury retail segment. QFD was used to assist the company in identifying and prioritizing key quality attributes to meet customer requirements effectively.

The findings demonstrate that implementing QFD in small luxury retail stores empowers managers to identify previously neglected product and service quality aspects. The article shows that QFD informs organizational adaptations that align with the demands of the retail market, leading to an improved ability to meet customer expectations and enhance customer value through the development of enhanced products and services. The study showcases the efficacy of the tested methodology in effectively capturing and prioritizing both tangible and intangible customer needs in retail.

Findings offer valuable insights to retail managers of small luxury stores, providing actionable market-oriented strategies. By implementing the recommended practices, managers can improve the store’s competitiveness and better cater to the customer base.

This study contributes to bridging persistent knowledge gaps by addressing the unique context of small luxury retail stores and introducing the application of QFD in this setting. The insights gained from this research are relevant to both retailing and quality management literature. Considering the growing prevalence of transformations in the retail industry, the study provides practical implications for retail managers in effectively navigating these changes.

This study analyzes how small French retailers are adapting their front-office to the digitalization of their business environment.

The qualitative study focuses on dynamic capabilities of 27 independent French retailers, in a wide variety of sectors.

The digitalization of small retailers does not date from the pandemic health crisis. Small retailers are willing, agile and organized to make controlled progress, ranging from the visibility on social networks to online sales with its specific logistical constraints. Even if their presence on marketplaces is trickier to implement, it represents the culmination of the digitalization process, once their online store has been launched. The digital transformation of independent retailers should be less radical than for large retailers.

By distinguishing between the concepts of adaptive, absorptive and innovative capabilities, this research highlights strong differences between small retailers, that is SMEs, and larger companies. In terms of adaptive capabilities, it confirms that small retailers are not embracing digitalization as a fad, but because of real changes in the market, and particularly in demand. In contrast to large companies, small retailers drive it more around external objectives linked to their intimate knowledge of changing customer behavior (customer centricity). In terms of absorptive capabilities, the success or failure of digital transformation weighs directly on the entrepreneur's shoulders, but is less hampered by technological legacy. Despite interviews only conducted in the Paris region, it converges with professional studies carried out on a larger scale in France. Its widespread use is certainly easier in countries at the same stage of commercial development.

In terms of innovative capabilities, independent retailers need to focus on four key areas: reinventing the in-store experience; increasing visibility on social networks; creating an online store; being present in one or two marketplaces or creating a common platform with other local merchants.

This research is one of the first to analyze the digital transformation experienced by small structures. It draws on the concept of dynamic capabilities, well-suited to technologically and commercially dynamic markets. It puts into perspective studies carried out in other countries on less diversified types of shops. Unlike other studies examining the front office, it does not exclude stores and SEO in marketplaces.

By aligning the “Small is beautiful” and “Bleak house” theories, this study aims to examine how robotic working patterns affect employees’ working life and job satisfaction (JS) in Bangladeshi-owned ethnic minority businesses.

The study uses information from 40 face-to-face interviews of employees from 20 Bangladeshi restaurants in Greater London.

The findings suggest that workers are treated as “robots”, consistent with the “Bleak house” view of small businesses in this segment of the restaurant and hospitality industry. Owners expect employees to perform multiple tasks, to assume many responsibilities, to work long shifts, without any holiday allowances. Consistent with the “Small is beautiful model”, the findings underscore the lack of written employment contracts and the emergence of acute staff shortages.

The findings can inform owner-managers’ decisions to refine their HR strategies and improve the work conditions of employees in ethnic minority-owned restaurants. The “Small is beautiful” model highlights five key interventions for improving ethnic minority business work quality: recruit employees with first preferences for restaurant jobs, introduce flexible work arrangements, formalise work, improve market research and tackle acute staff shortages.

The study contributes novel insights into the small- and medium-sized enterprises (SMEs) and job quality literature by offering new qualitative-based findings on the negative impact of robotic work patterns on work quality and JS in ethnic minority SMEs.

After completion of the case study, the students will be able to explore the challenges involved in growing a business during its early stages inorganically, discuss the challenges faced by start-ups in their quest for growth in an emerging market, investigate the reasons behind the mergers and acquisitions, comprehend the issues in the merger of a start-up and a conventional bank, identify the various possible synergies out of the merger and examine the growth strategies that a troubled start-up such as Slice can follow to survive and expand its business operations.

The case study discusses the challenges that Slice, a modern fintech organization, and North East Small Finance Bank (NESFB) face due to the changing business and regulatory environment. After working tirelessly to earn the trust of India’s banking regulator, Slice got the approval for its merger with NESFB. While Slice and NESFB got a new lease of life after the approval of their merger, Rajan Bajaj, founder of Slice, needed to make the merger a success by leveraging on the strength of the combined entity and meeting all the lending and other regulatory requirements applicable to small finance banks.

This case study is suitable for MBA/MS/BBA/BS students.

Teaching notes are available for educators only.

CSS 11: Strategy.