Networking and strategic planning to enhance small and medium‐sized enterprises growth in a less competitive economy

Clifton, Nick; Huggins, Robert; Pickernell, David; Prokop, Daniel; Smith, David; Thompson, Piers

doi:10.1002/jsc.2382

Cited by 8 publications

(3 citation statements)

References 71 publications

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“…It has been confirmed that the situation in the V4 countries does not differ significantly from other regions. These findings are in line with Clifton et al (2020). They demonstrated that strategic planning and networking are not implemented adequately.…”

Section: Discussionsupporting

confidence: 78%

“…This is confirmed by empirical studies conducted in different geographical areas (Kocisova et al, 2018). Clifton et al (2020) conducted research in a group of 121 SME companies in South East Wales. The authors asked various questions related to strategic planning in the following areas: (a) Business objectives, (b) Company growth, (c) Skills and training, (d) Innovation, (e) Networking, (f) Business prospects and drivers of growth.…”

Section: Theoretical Partmentioning

confidence: 54%

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Perception of selected strategic management factors of SME in V4 countries

Belás¹,

Damborský²,

Metzker³

et al. 2021

Serb J Management

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The objective of the paper was to present current theoretical findings in the area of strategic management of small and medium-sized enterprises (SMEs) in the Visegrad Four (V4) countries. Within the stated objective, the weight of individual strategic management factors was quantified and trends in the Czech Republic were compared with other V4 countries. Empirical research was conducted between October 2019 and March 2020 in V4 countries by means of an online questionnaire. The overall number of accepted questionnaires was as follows: Czech Republic (CR): 454, Slovak Republic (SR): 368, Poland (PL): 364, and Hungary (HU): 399. Questionnaires were completed by company owners and top managers. The empirical research provided several interesting findings. On the one hand, SMEs confirmed that strategic management is an important part of corporate management; on the other hand, strategic management is not implemented in the everyday life of SMEs and is not implemented through action plans and programmes. The level of agreement with the statement that quality strategic management improves the competitiveness of enterprises and their stability in domestic and foreign markets was not very high. Not surprisingly, SMEs have significant weaknesses in monitoring and personal risk management. The research results point to the need for increasing the level of strategic risk management in the segment of SMEs, which is an important factor in improving their competitiveness in a globalizing economic environment.

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Section: Discussionsupporting

confidence: 78%

Section: Theoretical Partmentioning

confidence: 54%

Perception of selected strategic management factors of SME in V4 countries

Belás¹,

Damborský²,

Metzker³

et al. 2021

Serb J Management

View full text Add to dashboard Cite

show abstract

“…In the same type of configuration, with low working capital and a high working capital turnover, the presence of low growth prospects (having a high book-to-market ratio; in our coding, the higher "growth prospect" variable set value is indicative of lower growth prospects) suggests that the construction company has extensive capability to manage the introduction of new processes and innovations and capitalize on the developments. The need for low growth prospects suggests that the greater risks of radical innovations would be compounded, and the firm is more suited to select the incremental innovations in this configuration for the positive outcomes [41]. From the perspective of firm performance as evaluated by the stock market reaction, these outcomes likely suggest that investors place a high value on the safety and lack of risk from this type of approach, rather than expectations of greater future financial benefits.…”

Section: Cradical*~fswc*fswct Cradical*fswc*~fswctmentioning

confidence: 99%

Business Process Improvement for Sustainable Technologies Investments in Construction: A Configurational Approach

2022

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Given the importance of investments in business process improvements for sustainable technologies, many industry sectors are forced to examine and balance new investments with long-term economic viability. There are disputes with regard to the value of investments, particularly within the construction sector, which is characterized by poor capitalization, over-leveraged firms, and high risks, often coupled with business cycles or boom and bust periods. Understanding when construction firms should engage in business process improvements with sustainable technologies is not clear due to the risks and investment costs. To address this problem, the study takes a configurational approach to examine the factors of leverage and use of capital to examine their impact on firm performance with qualitative comparative analysis (QCA). We show distinct configurational outcomes that are associated with superior success, giving construction firms viable pathways to evaluate potential investments in sustainable technologies. Specifically, one configuration, focusing on incremental innovations, consistently produces positive firm performance. Two configurations that lead to the absence of performance are associated with radical innovations in firms that struggle to manage their working capital.

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Crowdfunding's impact on small business performance through exploitative and exploratory search strategies: An entrepreneurial resourcefulness perspective

Sarfo,

Zhang,

O'Kane

et al. 2024

Strategic Change

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Drawing on the entrepreneurial resourcefulness perspective, this study examines how crowdfunding engagement affects small business performance. We theorize that crowdfunding engagement serves resourcefully to enhance small business performance. Moreover, we hypothesize that exploratory and exploitative search act as effective mechanisms through which crowdfunding engagement increases small business performance. We further posit that the effects of crowdfunding engagement on small business performance are contingent on environmental dynamism. We utilize a quantitative approach, specifically partial least squares structural equation modeling (PLS‐SEM), for analyzing our data. Using a sample of 310 small businesses in Ghana, the findings from PLS‐SEM support our theorization, showing that both exploratory and exploitative search positively mediate the effects of crowdfunding engagement on small business performance, while environmental dynamism negatively moderates such effects. Our findings provide important theoretical and practical implications.

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Networking and strategic planning to enhance small and medium‐sized enterprises growth in a less competitive economy

Cited by 8 publications

References 71 publications

Perception of selected strategic management factors of SME in V4 countries

Perception of selected strategic management factors of SME in V4 countries

Business Process Improvement for Sustainable Technologies Investments in Construction: A Configurational Approach

Crowdfunding's impact on small business performance through exploitative and exploratory search strategies: An entrepreneurial resourcefulness perspective

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