The reality of management development in SMEs

Coetzer, Alan; Battisti, Martina; Jurado, Tanya; Massey, Claire

doi:10.5172/jmo.2011.17.3.290

Cited by 8 publications

(4 citation statements)

References 24 publications

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“…Improved management skills training could lead to better performance in core areas of business such as financing and strategy development. Management skill development, an area often seen as being of secondary importance for SMEs (Fitzsimmons and Fitzsimmons 2013;Coetzer et al 2011), is an essential component of a successful SME's overall business strategy (Libutti 2000). As the owner of Firm C was quick to point out, "I'm not the best at selling and dealing with money, you know, but I do my best.…”

Section: Resultsmentioning

confidence: 99%

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2018

BPB

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Small and medium-sized enterprises (SMEs) in the value-added forest products sector play an important social and economic role in Canadian forest-dependent communities. In British Columbia (BC), the sector is not reaching its full potential. Many factors limit or enable growth of the value-added forest products sector in BC. This study seeks to assess what factors are most integral to success through an in-depth examination of four value-added forest product sector SMEs in rural BC representing four different types of firms with varying levels of performance. The results of the study indicate that, though factors typically considered vital, such as access to skilled labor, fiber supply, location, and financial capital, are integral to business success, business management skill and firm size are integral and often-overlooked factors. The results of this study point to a need for a better provincewide understanding of the barriers to success commonly faced by forest products SMEs, particularly barriers to management skill development.

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Section: Resultsmentioning

confidence: 99%

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2018

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“…Cooper, Gimeno-Gascon, Javier, and Woo (1994) explained that HGFs benefit from high levels of capitalisation that allow their owners time to successfully implement their strategic objectives, develop ambitious strategies or change their course of action. Gilbert, McDougall, and Audretsch (2006) supported this position, arguing the importance of adequate financial resources to employment and revenue growth.…”

Section: Literature Review: Markers Of Hgfsmentioning

confidence: 99%

Identifying high growth firms: Where are we?

Dwyer¹,

Kotey

2015

Journal of Management & Organization

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The article reviews the literature for the key markers of high growth firms, which create the majority of new jobs. From the review, a template is developed comprising the key markers. They include: training and experience in entrepreneurship and management; and strategies that emphasise innovation, marketing and employee and organisational learning. High growth firm owners take steps to access management skills that complement theirs through employment of a management team, outsourcing management tasks or making decisions with oversight from an informal board. Good reward structures, which may include ownership interests, are essential to performance of the management team. Access to resources, especially finance and human capital is critical to growth but abundant resources could compromise efficiency. The article finds that personality characteristics of owners and postgraduate education in management are not effective identifiers of high growth firms. Some of the barriers to identifying high growth firms are presented and suggestions made to overcome them.

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“…However, when internal finance is insufficient, family-owned firms prefer debt to external equity (López-Gracia & Sánchez-Andújar, 2007;Mulkay & Sassenou, 1995;Peters & Westerheide, 2009;Poutziouris, 2001;Romano et al, 2001) to keep firm's control and capital, in family's hands. Additionally, the more cohesive management structure of family-owned firms (Bopaiah, 1998;Coetzer, Battisti, Jurado, & Massey, 2011;Huang, 2010;Huybrechts, Voordeckers, Vandemaele, & Lybaert, 2011) as well as their owners' desire to maintain the family reputation and firm's control, reduce the risk for creditors, implying lower agency costs of debt, allowing longer relationships between these firms and creditors (Menéndez-Requejo, 2006). In this setting, we can expect that it is easier for familyowned firms to obtain long-term debt than for non-family owned firms (Colot & Croquet, 2006).…”

Section: Hypothesesmentioning

confidence: 99%

Are financing decisions of family-owned SMEs different? Empirical evidence using panel data

Serrasqueiro

Nunes

Silva

2012

Journal of Management & Organization

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This paper analyses if ownership structure is an important determinant of capital structure decisions, on the basis of two sub-samples of family-owned and non-family owned SMEs, and using panel data models. The results suggest that family ownership is an important determinant for: i) the variations of short and long-term debt stimulated by financial deficit; ii) the speed of adjustment of short and long-term debt towards the respective target levels; and iii) the relationships between determinants and short-term debt and long-term debt. In general, the capital structure decisions of family-owned SMEs are closer to what is forecast by trade-off theory than those of non-family owned SMEs, whereas the capital structure decisions of non-family owned SMEs are closer to the forecasts of pecking order theory than those of family-owned SMEs.

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The reality of management development in SMEs

Cited by 8 publications

References 24 publications

Untitled

Untitled

Identifying high growth firms: Where are we?

Are financing decisions of family-owned SMEs different? Empirical evidence using panel data

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