The competencies that need to be developed and deployed in coping with accelerating changes in the business environment have been the subject of much work dating back at least to the 1960s. Two broad themes are discernible in this work. On the one hand there are those who argue that the speed of change is so fast that organisations and managers who can respond almost instinctively and improvise responses quickly will do well. On the other, there are those who argue that more formalised systems of strategic development and control are needed to give organisations a competitive advantage. The results from an empirical study of some 267 organisations are used to shed some light on this debate. The evidence supports the idea that a growing organisation is associated with the existence of internal strategic systems that support the firm’s growth ambitions, allowing it to make not only “good” business decisions and to monitor how well the organisations is doing against its strategy, but to do so speedily.
Journal of Small Business and Enterprise Development – Emerald Publishing
Published: Jun 1, 2003
Keywords: Decision making; Strategy; Innovation; Planning; Growth; Small‐ to medium‐sized enterprises
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