Strategic Management: In Small and Medium Enterprises

Statistics show that, in most countries, 99% of businesses are classified as 'Small Businesses'. In the UK alone, 99.8% of businesses employ less than 250 staff and these companies contribute more than a half of UK turnover. This new textbook goes where other Strategic Management books have not and focuses on these Small and Medium size Enterprises (SMEs) rather than the large corporations and the actions of their CEOs. The authors consider how managers of small firms perceive the processes associated with strategic management, what decisions and actions they adopt to ensure competitive advantage, how business strategies are formulated and implemented in SMEs and what the strategic role of entrepreneurship within small businesses is. They also discuss how SMEs should act for maximum competitive advantage and consider the 'gap' between ideal theory and practice. This unique book will be essential for professionals working in small businesses and for entrepreneurs as well as those managers interested in strategy and business policy.