Strategic management of small firms - Research Proposal Example

Such firms include entrepreneurial ventures and also business trading entities. The paper is an exploratory study and draws upon existing literature and case studies of small firms to develop the proposed model. Future research scope and applicability has also been discussed. Small firms have been long neglected over the strategic management roles and issues. The problems of identification of factors that influence small firms’ strategic decisions have been restricted to leadership roles and planning techniques.

The paper is aimed at resolving this very issue by identification of a framework for strategic management within small firms. Small scale industries have been the key to economic development for most of the countries during their development stage. Studies prove that they contribute towards a major portion of a country’s GDP and growth. This has also led to a huge rise in research in the economic activity of small scale enterprises. However, most research in the field did not prove to be quite resourceful, primarily, owing to the failure of identification of problems associated with the study of small scale companies.

The main objective of this paper is to evaluate and develop a framework of strategic management within small enterprises by evaluation of strategies adopted by small companies. The research shall also seek answers to the source of competitive advantage of small enterprises that emerge as successful businesses and thereby analyse the strategic management factors that influence success in small firms. The research rationale in the context of this study is whether there exists any significant difference between the strategic management employed within small firms and that within large firms.

If this holds true then, the research seeks to explore the factors that are responsible for strategic management within small firms. The research