Competitive Strategies For Small And Medium Enterprises

This book is a timely guide for Small and Medium Enterprise (SME) researchers, policy makers and strategists. SMEs are the most important sources of job creation and local development especially in knowledge-based economies. As turbulence in the globalized economies expands SMEs will have to learn to sustain competitiveness by developing their ‘dynamic capabilities’. Based on the findings of a 4-year European and Latin American research project, this book provides a theoretical framework, practical instruments and cases on how SMEs in diverse economic, social and cultural contexts can develop crisis resilience, increase agility, innovate and thus successfully compete in turbulent times.

A new analytical approach to small firms' cases, which * Uses rich primary source data on modern small businesses * Combines business strategy and industrial organization * Presents detailed Profiles on diverse small businesses * Shows how successful small businesses achieve competitive advantage * Considers both extended rivalry and financial structure * Shows how to `ground' small business theory in reality Profiles in Small Businesses has a companion volume Small Business Enterprise by Gavin Reid (also published by Routledge, Hb: 0-415-05681-0: £45.00) which contains a full analysis (ranging from econometrics to the ethics of competition) of the larger sample of small businesses from which the Profiles are drawn.

Business sustainability is becoming increasingly difficult amongst the demands of today’s markets. By implementing new and dynamic practices, organizations can optimize their day-to-day operations and improve competitive advantage. Optimal Management Strategies in Small and Medium Enterprises is a key source on the latest innovations in enhancing all main management functions, such as working capital and marketing, and examines how to implement sustainable business management practices. Featuring extensive coverage across a range of relevant perspectives and topics, such as human resources development, market orientation, and knowledge management, this book is ideally designed for business managers, professionals, graduate students, and researchers working in the field of smaller-scale business development initiatives.

Research Paper (postgraduate) from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: A, University of Applied Sciences Chur, course: MSc Entrepreneurship, language: English, abstract: This report was commissioned to examine whether small and medium enterprises (SMEs) that target only a few market segments will promote their products and services more effectively than SMEs that target the mass market. The research draws attention to Porter's generic theory of competitive advantage by mainly concentrating on the third of his competitive advantage strategies, the focus strategy. Theory as well as a practical survey was used in order to falsify or approve the research question. Theory revealed Porter's focus strategy to have several key advantages over a mass market strategy which make firms pursuing such a strategy more effective in their product promotion efforts. First, a focused firm does not have to devote substantial resources into being all things to all people entailing less expenditure of time and money in comparison to a mass market strategy. Second, empirical evidence was found that customers do value specialized firms due to their focused capabilities. Third, a focused firm is less likely to be overwhelmed by great amount of different customer request and is more likely to identify and adapt to market changes in a quick time manner. Besides the advantages of a focus strategy, the research question is only supported when the SME makes bigger rivals to accommodate their existence in the segment(s) by creating circumstances in which the cost for the bigger rival in fighting the SME exceeds the cost of accommodating the SME. 27 SMEs from South Germany have returned completed questionnaires which were used to find practical evidence for answering the research question. Results revealed several tendencies which partly support theory. First, SMEs that pursue a focus strategy are more likely to do this with a differ

Countries have been competing against each other in order to attract financial investment and human capital for decades. However, emerging economies have a long way to go before they achieve the same levels of competitiveness as a developed economy. Lack of firm institutions, inadequate infrastructure, and a lack of trust in the legal system are urgent and unavoidable factors that emerging economies must address. The Handbook of Research on Increasing the Competitiveness of SMEs provides innovative insights on integrating, adapting, and building models and strategies compatible with the development of competitiveness in small and medium enterprises in emerging countries. The content within this publication examines quality management, organizational leadership, and digital security. It is designed for policymakers, entrepreneurs, managers, executives, business professionals, academicians, researchers, and students.

This book is about using information in small businesses to compete; it is about strategy and information systems. It examines problems that these businesses face and suggests some solutions. It looks at how strategie planning takes place and how information systems should be designed and developed in line with strategy, from a business rather than a purely technical point ofview. The main contribution made is proposing an approach to crafting strategy, designing new business processes and information systems planning that could realistically be used by the average small business, that is one without great knowledge of strategy or information systems, and one that cannot afford to buy in this knowledge. The approach differs from others suggested in the literature in that it emphasises the important role of creativity in the process of creating strategy and in information system design and illustrates where this creativity may come from, it emphasises the importance of getting staff involved and it attempts to lessen the communication problems that exists between business people and information system developers, something that historically has caused problems.

Research Paper (postgraduate) from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: A, University of Applied Sciences Chur, course: MSc Entrepreneurship, language: English, abstract: This report was commissioned to examine whether small and medium enterprises (SMEs) that target only a few market segments will promote their products and services more effectively than SMEs that target the mass market. The research draws attention to Porter’s generic theory of competitive advantage by mainly concentrating on the third of his competitive advantage strategies, the focus strategy. Theory as well as a practical survey was used in order to falsify or approve the research question. Theory revealed Porter’s focus strategy to have several key advantages over a mass market strategy which make firms pursuing such a strategy more effective in their product promotion efforts. First, a focused firm does not have to devote substantial resources into being all things to all people entailing less expenditure of time and money in comparison to a mass market strategy. Second, empirical evidence was found that customers do value specialized firms due to their focused capabilities. Third, a focused firm is less likely to be overwhelmed by great amount of different customer request and is more likely to identify and adapt to market changes in a quick time manner. Besides the advantages of a focus strategy, the research question is only supported when the SME makes bigger rivals to accommodate their existence in the segment(s) by creating circumstances in which the cost for the bigger rival in fighting the SME exceeds the cost of accommodating the SME. 27 SMEs from South Germany have returned completed questionnaires which were used to find practical evidence for answering the research question. Results revealed several tendencies which partly support theory. First, SMEs that pursue a focus strategy are more likely to do this with a differentiation focus and secondly and most importantly they tend to have fewer problems in attracting and retaining customers. There was no indication that focused SMEs are more likely to see and adapt to market changes on an early stage and there was also no tendency visible whether SMEs with a focus strategy are less likely to be overwhelmed with customer requests. In conclusion, theory supports the research question only when the firm is able to adequately implement the focus strategy.

Covers the product/market behaviour of small and medium-sized enterprises (SMEs), discussing its theoretical bases and relevant empirical data. The material has been written in the context of the STRATOS international research project - a study of 1100 SMEs in six European countries.