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Strategic Management in Small and Medium Enterprises
Introduction
Strategic management entails long-term focused
practices that support futuristic expansion potential. I like this research topic since it analyzes
appraisal and control of an organization through outlining objectives and the
approaches used to beat the current and future rivals. It discusses how small
and medium enterprises (SMEs) rely on the adoption of strategic management
techniques to sustain competitiveness. Using this proposed research, I will
investigate the role of strategic planning as an instrument that cushions SMEs
in an unstable business surrounding.
The
Rationale for Choosing the Topic
I believe that the implementation of strategic management
techniques conceptually lets SMEs comprehend their strategic position as well
as futuristic business choices. Adopting strategic planning is significant to
the achievement of goals and objectives within a small enterprise. Nonetheless,
I realize that the enhanced performance of SMEs fails to provide a reliable
assessment of the industrial output as the majority of small firms perform
poorly. Consequently, this situation inspires me to observe the influence of
management strategies in SMEs.
Various studies have analyzed the adoption of
strategic planning in small companies and concluded that the majority agreed
that the practices resulted in success. I comprehended that further studies have
investigated how management strategies have affected the service delivery of
SMEs. Most scholars concluded that globalization was the most significant
factor determining the performance of small firms. I trust that the majority of
the pre-existing studies fail to depict how management strategies result in the
expansion of SMEs; hence, through this proposed study, I will seek to fill the
research gap.
Research
Hypothesis
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