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This volume fills a major gap in the literature by systematically and scientifically analyzing 500 small entrepreneurial firms and isolating the reasons for their successes and failures. The authors examine whether there are any laws of success and failure that are applicable to small and mid-size companies and identify profitable strategies in various industries and under differing industry conditions. Designed as a reference book for corporate executives, small business owners, and consultants, this book will also be extremely useful to graduate students interested in researching the application of strategic management concepts to entrepreneurial companies.
Following an introduction, the authors delineate the strategic profile of profitable small companies and examine the impact of competition on small firm profitability. Subsequent chapters assess profitable strategies in high-growth, mature, and declining industries; strategies for cyclical environments; profile start-up, buy-out, and family firms; consider the impact of organizational life-stage on small company strategy and performance; and discuss how to perpetuate the family firm. A separate chapter addresses strategies that are particularly applicable to women-owned firms. The conclusion reviews effective strategies and presents the practical implications of the research studies upon which the book was based. Two appendixes provide additional information about the research methodology.
List of contents
Preface
Introduction
The Strategic Profile of Profitable Small Companies
Profitable Strategies and Competition
Profitable Strategies in High-Growth, Mature, and Declining Industries
Profitable Strategies in a Cyclical Environment
Profiles of Start-Up, Buy-Out, and Family Firms
Organizational Life Stage and the Small Business
The Family Firm
Women-Owned Enterprises
Conclusion
Appendix 1: The Research Study
Appendix 2: Sample Questionnaire
Index
About the author
RAJESWARARAO CHAGANTI is Chairperson of the Department of General and Strategic Management at the Temple University School of Business and Management. He has written extensively on small company management, entrepreneurship, top management characteristics, corporate boards of directors, and social issues in management, publishing articles in the
Strategic Management Journal, the
Journal of Management Studies, and the
Journal of Small Business Management, among others.
RADHA CHAGANTI is Associate Professor of Business Policy and Environmental Analysis, School of Business Administration, Rider College, Lawrenceville, New Jersey. She has extensive experience in the administration of a small business development center. Her research has been accepted for publication in the
Journal of Small Business Management and Entrepreneurship: Theory and Practice, among other journals.
STEWART MALONE is Assistant Professor of Management at the McIntire School of Commerce, University of Virginia. Prior to joining the University, Dr. Malone served sixteen years as president of his family business with over $2 million in sales. His research has been published in the
Journal of Business Venturing and the
Journal of Small Business Management.
