An exploratory study of the application of business strategies for small business growth and expansion
Ismail, Siti M.
Cardiff Metropolitan University
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This research explored the application of business strategy for a small business's growth and expansion. Small businesses contribute a significant proportion to the UK economy and their survival is linked to their ability to grow after start-up. The adoption of a grounded theory approach feeds into an interpretivist research strategy. It was followed by secondary data collection of various reliable resources and interviews; within a cross-sectional time-frame' A conceptual framework was constructed from a critical analysis of the review of literature, which proposed that the theory of the resource-based view of the firm and the entrepreneurial traits of owner/managers are pertinent to constructing a small business's strategy of growth and expansion. The relationship between these attributes was explored via a comparative case study of the growth strategies of Starbucks Coffee Company and Coffee #1 Company. Recommendations were then proposed for Pipi's, a Mediterranean-style coffee shop based in Cardiff, towards constructing its strategies for growth and expansion. People and intellectual capital are the two pertinent resources that build core competences for the businesses. Entrepreneurial traits of innovation, passion, intuition and determination boosted firm-specific capabilities to shape resources into core competences and directing them towards laying the foundation for each business's growth and expansion strategies. Entrepreneurial resource-based view of the firm enables small businesses to acknowledge and develop its core competences in order to devise the direction of growth and expansion strategies. Ultimately, business strategy plays an important role in the success of small businesses growth and expansion.
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