Although strategy development in large corporations has been well documented, the process of formulating strategy in small firms has not been extensively investigated by researchers. The process in small firms does not reflect exhaustive strategic analysis, but rather, a personality driven, opportunistic or instinctive approach, channelled through an emergent planning process. This study builds on recent work examining the planning patterns and approaches of small firms by integrating an understanding of the nature and extent of information and advice sought and received by the firm, and how that interaction influences the formation of competitive strategy. Results of this qualitative study point to more formal sources of advice such as providers of professional advisory services being bypassed due to a perceived lack of relevance of their information and planning advice to the SME's specific industry context.
Qualitative Market Research: An International Journal – Emerald Publishing
Published: Jun 1, 2004
Keywords: Competitive strategy; Small to medium‐sized enterprises
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