Networking and Strategic Planning to Enhance SME Growth in a Less Competitive Economy

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Author
Clifton, Nick
Huggins, Robert
Pickernell, David
Prokop, Daniel
Smith, David
Thompson, Piers
Date
2020Acceptance date
2020-11-16
Type
Article
Publisher
Wiley
ISSN
1086-1718
1099-1697 (electronic)
Embargoed until
2100-01-01
Metadata
Show full item recordAbstract
Competition and day to day fire-fighting prevents small businesses from undertaking the most effective types of strategic planning and networking for growth and innovation. Poor or inappropriate execution of these activities highlights the need for targeted managerial training. Potential explanations for the weak growth of many SMEs focus on 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 most associated 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. This deficiency highlights the need for targeted managerial training in these areas.
Journal/conference proceeding
Strategic Change;
Description
Article accepted for publication in Strategic Change
Sponsorship
Cardiff Metropolitan University (Grant ID: Cardiff Metropolian (Internal))