Strategic complexity and success – small firms’ strategies in a mature market

Strategic complexity and success – small firms’ strategies in a mature market This paper develops a typology of strategic options for small firms in the furniture industry and examines the extent to which firms are re‐engineering their strategies in response to profit performance. Empirical analysis is based on data from 39 firms with between 10 and 100 employees in the Irish furniture industry. Three main results emerge from the analysis. First, firms in the Irish furniture industry predominantly adopt “simple” business development strategies. Secondly, in terms of profit performance, we find no evidence that simple strategies unambiguously outperform more complex approaches. Instead, the success of both simple and complex business strategies is directly related to the strength of firms’ resource base. Finally, systematic differences were found in firms’ ability or willingness to re‐engineer their strategies in the light of their profit performance. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Small Business and Enterprise Development Emerald Publishing

Strategic complexity and success – small firms’ strategies in a mature market

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Publisher
Emerald Publishing
Copyright
Copyright © 2001 MCB UP Ltd. All rights reserved.
ISSN
1462-6004
DOI
10.1108/EUM0000000006826
Publisher site
See Article on Publisher Site

Abstract

This paper develops a typology of strategic options for small firms in the furniture industry and examines the extent to which firms are re‐engineering their strategies in response to profit performance. Empirical analysis is based on data from 39 firms with between 10 and 100 employees in the Irish furniture industry. Three main results emerge from the analysis. First, firms in the Irish furniture industry predominantly adopt “simple” business development strategies. Secondly, in terms of profit performance, we find no evidence that simple strategies unambiguously outperform more complex approaches. Instead, the success of both simple and complex business strategies is directly related to the strength of firms’ resource base. Finally, systematic differences were found in firms’ ability or willingness to re‐engineer their strategies in the light of their profit performance.

Journal

Journal of Small Business and Enterprise DevelopmentEmerald Publishing

Published: Sep 1, 2001

Keywords: Small firms; Business strategy; Business development; BPR; Furniture industry

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