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| Author: | Verreynne, M. Meyer, D. |
| Title: | Small business strategy and the industry life cycle |
| Journal: | Small business economics
2010 : NOV, VOL. 35:4, p. 399-416 |
| Index terms: | small business planning financial performance empirical research business cycles life cycles |
| Freeterms: | organizational age |
| Language: | eng |
| Abstract: | This research proposes that individual small firms, uniform with large firms, use different approaches to make strategy. Three processes relevant to small firms are picked out: simplistic, participative and adaptive. The relationship of these processes with performance, depending on industry life cycle stage is analyzed. Empirical analysis suggests that all three approaches are related to small firm performance, but that the importance and effect of the relationships alter depending on the industry life cycle stage. Markedly, and contradicting with evidence from studies in large firms, small firms in mature industries most likely benefit from use of adaptive strategy-making processes. |
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