A resource‐based view of micro‐firm management practice

A resource‐based view of micro‐firm management practice Purpose – The purpose of this paper is to discuss a resource‐based approach for exploring micro‐firm management practice, as informed by the relevant literature. Specifically, the paper analyses available literature and catalogues micro‐firm and managerial competence criteria in pursuit of managerial insights in this environment. Design/methodology/approach – A comprehensive literature review precedes the conceptualisation of micro‐firm management practice. Findings – Literary findings suggest that, considering micro‐firms' internal resource constraints, minimal environmental power, and owner‐centred culture, it is vital for these organisations to embed their valuable resource in their core business strategy, to ensure survival in the longer term. Furthermore, there is an assumption that knowledge must be used optimally within the micro‐firm by developing the analytical and critical skills of individuals, groups and the entire organisation so as to sustain and grow these firms' competitive advantage. Having identified and catalogued a range of factors that impact micro‐firms, the authors propose a “resource taxonomy of micro‐firm management practice”, which establishes factor interaction and the interrelationships between each resource in this environment. The purpose of this taxonomy is to assist in the analysis of management practices in the micro‐firm milieu. Research limitations/implications – The authors go on to discuss taxonomy implications for micro‐firm training policy and propose further exploration of micro‐firm management practice and resource‐based research in this environment. Originality/value – Academic research, which focuses specifically on the micro‐firm, has historically been rare, despite multiple calls to study these firms in their own right. By proffering a “resource taxonomy of micro‐firm management practice”, the authors seek to inform this neglected research area. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Small Business and Enterprise Development Emerald Publishing

A resource‐based view of micro‐firm management practice

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Publisher
Emerald Publishing
Copyright
Copyright © 2009 Emerald Group Publishing Limited. All rights reserved.
ISSN
1462-6004
DOI
10.1108/14626000910977206
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to discuss a resource‐based approach for exploring micro‐firm management practice, as informed by the relevant literature. Specifically, the paper analyses available literature and catalogues micro‐firm and managerial competence criteria in pursuit of managerial insights in this environment. Design/methodology/approach – A comprehensive literature review precedes the conceptualisation of micro‐firm management practice. Findings – Literary findings suggest that, considering micro‐firms' internal resource constraints, minimal environmental power, and owner‐centred culture, it is vital for these organisations to embed their valuable resource in their core business strategy, to ensure survival in the longer term. Furthermore, there is an assumption that knowledge must be used optimally within the micro‐firm by developing the analytical and critical skills of individuals, groups and the entire organisation so as to sustain and grow these firms' competitive advantage. Having identified and catalogued a range of factors that impact micro‐firms, the authors propose a “resource taxonomy of micro‐firm management practice”, which establishes factor interaction and the interrelationships between each resource in this environment. The purpose of this taxonomy is to assist in the analysis of management practices in the micro‐firm milieu. Research limitations/implications – The authors go on to discuss taxonomy implications for micro‐firm training policy and propose further exploration of micro‐firm management practice and resource‐based research in this environment. Originality/value – Academic research, which focuses specifically on the micro‐firm, has historically been rare, despite multiple calls to study these firms in their own right. By proffering a “resource taxonomy of micro‐firm management practice”, the authors seek to inform this neglected research area.

Journal

Journal of Small Business and Enterprise DevelopmentEmerald Publishing

Published: Aug 7, 2009

Keywords: Resource management; Management activities; Small enterprises

References

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