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Strategy-making process and firm performance in small firms

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  • Verreynne, Martie-Louise

Abstract

This paper argues that individual small firms just like large firms, place differing emphasis on strategy-making and may employ different modes of strategy-making. It offers a typology of the different modes of strategy-making that seem most likely to exist in small firms, and hypothesises how this typology relates to performance. It then describes the results of an empirical study of the strategy-making processes of small firms. The structural equation analysis of the data from 477 small firms with less than 100 employees indicates among other results that the simplistic, adaptive, intrapreneurial and participative modes of strategy-making exist in these small firms. Of these modes, the simplistic mode exhibits the strongest relationship with firm performance.

Suggested Citation

  • Verreynne, Martie-Louise, 2006. "Strategy-making process and firm performance in small firms," Journal of Management & Organization, Cambridge University Press, vol. 12(3), pages 209-222, November.
    • Handle: RePEc:cup:jomorg:v:12:y:2006:i:03:p:209-222_00
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    Cited by:

    1. Gabrielsson, Jonas & Joakim, Tell, 2009. "Managerial learning and development in small firms: implications based on observations of managerial," Papers in Innovation Studies 2009/3, Lund University, CIRCLE - Centre for Innovation Research.
    2. Edwards, John & Miles, Morgan P. & D'Alessandro, Steven & Frost, Mark, 2023. "Entrepreneurial strategy-making, corporate entrepreneurship preparedness and entrepreneurial sales actions: Improving B2B sales performance," Journal of Business Research, Elsevier, vol. 157(C).
    3. Masood Nawaz Kalyar & Nosheen Rafi & Awais Nawaz Kalyar, 2013. "Factors Affecting Corporate Social Responsibility: An Empirical Study," Systems Research and Behavioral Science, Wiley Blackwell, vol. 30(4), pages 495-505, July.
    4. Martie-Louise Verreynne & Denny Meyer, 2010. "Small business strategy and the industry life cycle," Small Business Economics, Springer, vol. 35(4), pages 399-416, November.

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