Original scientific paper
https://doi.org/10.1080/1331677X.2019.1677488
Small business strategic management practices and performance: A configurational approach
Ralph I. Williams, Jr
; Middle Tennessee State University, Murfreesboro, USA
Adam Smith
; Middle Tennessee State University, Murfreesboro, USA
Joshua R. Aaron
; Middle Tennessee State University, Murfreesboro, USA
Scott C. Manley
; Midwestern State University, USA
William C. McDowell
; Bradley University, USA
Abstract
Small businesses contribute to society on many fronts: job creation, tax revenues, functional products and services, charitable donations, technological developments, and social contributions to communities. Given these contributions, and small firms’ limited resources, it is important to understand what strategic management practices (SMPs)–activities engaged to develop and implement strategy–positively impact small firm performance. Small business leaders may apply various combinations of SMPs to achieve performance objectives. Here, we apply Fuzzy set Qualitative Comparative Analysis (fsQCA) to explore how various combinations of six different SMPs–entrepreneurial orientation (EO), strategic planning, goal setting, total quality management (TQM), social capital, and small business owners’ analysis of financial ratios–affect performance. From a sample of U.S. printing companies, we found four different configurations of SMPs related to higher small business performance.
Keywords
Strategic Management Practices; SMEs; fsQCA; Entrepreneurial Orientation; Strategic Planning; Total Quality Management (TQM); Goal Setting; Social Capital; Analyzing Financial Ratios
Hrčak ID:
229837
URI
Publication date:
9.2.2021.
Visits: 4.548 *