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Networking and strategic planning to enhance small and medium‐sized enterprises growth in a less competitive economy

Nick Clifton, Robert Huggins, David Pickernell Orcid Logo, Daniel Prokop, David Smith, Piers Thompson

Strategic Change, Volume: 29, Issue: 6, Pages: 699 - 711

Swansea University Author: David Pickernell Orcid Logo

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DOI (Published version): 10.1002/jsc.2382

Abstract

Competition and day-to-day firefighting prevents small businesses from undertakingthe most effective types of strategic planning and networking for growth and innovation. Poor or inappropriate execution of these activities highlights the need for targetedmanagerial training. Potential explanations f...

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Published in: Strategic Change
ISSN: 1086-1718 1099-1697
Published: Wiley 2020
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URI: https://cronfa.swan.ac.uk/Record/cronfa61224
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Abstract: Competition and day-to-day firefighting prevents small businesses from undertakingthe most effective types of strategic planning and networking for growth and innovation. Poor or inappropriate execution of these activities highlights the need for targetedmanagerial training. Potential explanations for the weak growth of many SMEs focuson the limited use of strategic planning and networking activities. Data from a management survey of SMEs in South East Wales shows that where these activities are undertaken the type of networking and information sought from it is often not that mostassociated with innovation and growth. Therefore, it may not be their absence per se,but the poor or inappropriate execution of these activities that is the key problem. Thisdeficiency highlights the need for targeted managerial training in these areas
Keywords: business education; growth; leadership; networking; SME; strategy; Wales
College: Faculty of Humanities and Social Sciences
Issue: 6
Start Page: 699
End Page: 711

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