An assessment of strategic decision-making processes among small and micro enterprises in South Africa

Gopaul, Roger; Rampersad, Renitha

doi:10.4102/ac.v20i1.819

Cited by 7 publications

(26 citation statements)

References 22 publications

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“…The fact that the firms chose to follow an "adaptive" approach, which involved working with different stakeholders to achieve results, is consistent with work done by Gopaul and Rampersad (2020), which suggests that small firms do not follow a formal bureaucratic approach to strategy formulation. Rather, the B2B firms in our study adapted intuitively to environmental changes and modified their business model to exploit market opportunities.…”

Section: Internalization (I) Advantagessupporting

confidence: 52%

Overcoming economic liminality: internationalization of B2B SME’s from a small emerging economy

Pacheco

Akhter

2021

CPOIB

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Purpose Current research on small to medium enterprise (SME) internationalization has generated valuable insight but continues to overlook the activities of business-to-business (B2B) SMEs located in small emerging economies. This study aims to fill this gap by testing the applicability of the ownership, location and internalization (OLI) framework to understand the internationalization strategies of small B2B firms in Trinidad and Tobago, a small emerging Caribbean economy. Design/methodology/approach The study used a qualitative research design, which involved in-depth interviews with senior executives of three firms in the B2B sector who were knowledgeable about their firm’s internationalization process. Thematic analysis was then used to understand the motivations and strategies underpinning the internationalization approach adopted by each firm. Findings Contrary to the stereotype of SMEs in emerging markets as fragile enterprises, there is evidence that firms exploited the development of innovative products and processes to facilitate foreign market entry and expansion. Additionally, firms overcame resource limitations by relying on governmental ties and leveraging networking opportunities. The findings also call attention to the impact of organizational learning and the role of knowledge as a dynamic capability. Originality/value Both the context of the study and the application of the OLI framework contributes to the extant literature by yielding substantive insights into the internationalization strategies of B2B firms in a small emerging economy. The findings further highlight how the OLI framework can be supplemented by other theoretical perspectives to better understand internationalization by emerging market SMEs.

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Section: Internalization (I) Advantagessupporting

confidence: 52%

Overcoming economic liminality: internationalization of B2B SME’s from a small emerging economy

Pacheco

Akhter

2021

CPOIB

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“…Strategic decision-making related research is one of two broad research streams of strategic management, namely strategy process (Burgelman et al 2018;Hang & Wang 2012). However, research in this field, and strategy process research stream, is limited, because most SDM studies focus on large organisations (De Castro Krakauer & De Almeida 2016;Gopaul & Rampersad 2020;Musso & Francioni 2012). In South Africa, small businesses are classified into micro, very small, small and medium-sized entities (Nene 2017).…”

Section: Introductionmentioning

confidence: 99%

“…There has been a call for further research in this field, particularly in South Africa (Gopaul & Rampersad 2020;Sandada, Pooe & Dhurup 2014). Based on this gap in literature, this article aims to contribute to the deeper understanding of SDM in SMME literature by investigating the influencing factors of SDM in SMMEs and how they relate to each other.…”

Section: Introductionmentioning

confidence: 99%

Factors influencing strategic decision-making in South African small businesses

Wyk

Venter

2023

Acta commer.

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Orientation: Good strategic decision-making (SDM) is vital for continuous long-term business performance and sustainability.Research purpose: This study aimed to determine the influencing factors of SDM in small-, medium- and micro-enterprises (SMMEs) and how they relate to each other.Motivation for the study: Strategic decision-making literature for SMMEs is underrepresented, particularly in South Africa. This article addressed this gap by investigating these factors, thereby improving the current understanding of SDM and enhancing environmental scanning and effective SDM in SMMEs.Research design, approach, and method: A qualitative approach was adopted, implementing the interactive qualitative analysis (IQA) research technique involving a focus group session and interviews. Themes where identified through inductive and deductive coding. A total of 13 SMME owners participated in the study.Main findings: The main findings identified five categories of influencing factors, namely Risk, SMEracter, Operations, Limitations and/or Opportunities and/or Rewards. The sub-themes highlighted unique influencing factors such as ‘fuzzy feel good’, financial potential, time, capacity, core of the entity and ‘engine’. The findings also highlight how the five categories of influencing factors relate to each other in the SDM context.Practical/managerial implications: The findings provide SMME managers and/or owners with insight into that which influences their SDM, and how these factors relate to each other. Such knowledge improves SDM, environmental scanning, and assists in identifying how to mitigate influencing factors during SDM.Contribution/value-add: This article makes a theoretical contribution by providing additional insights pertaining to the influencing factors of SDM in SMME, and how they relate to each other, adding to the body of knowledge related to SDM in SMME.

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“…Proper formulation, implementation, and alignment of these three types of strategies are necessary for success in any type of business enterprise (Fairlom & Card, 2009). There is some evidence of previous studies focusing on strategy implementation within the South African SME sector (Sandada et al, 2014;Gomera et al, 2018;Govuzela & Mafini, 2019;Gopaul & Rampersad, 2020).…”

Section: Organisational Strategymentioning

confidence: 99%

Linking strategy implementation to financial performance and firm survival in women- owned small to medium enterprises

Mudara

Mafini

2022

Journal of Contemporary Management

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Purpose of the study: Women-owned SMEs in South Africa are plagued with numerous challenges that contribute to the slow growth and failure of their businesses. Among these challenges are inadequate managerial skills related to the formulation and implementation of suitable strategies. This study aimed to determine the influence of strategy implementation on financial performance and the survival of womenowned SMEs in Gauteng province, South Africa.Design/methodology/approach: The study followed a quantitative method in which a six-section survey questionnaire was administered to 347 women entrepreneurs conveniently selected from SMEs in Gauteng Province. Statistical analyses techniques applied in the study included descriptive statistics, exploratory factor analysis, Pearson correlations and regression analysis.Findings: Corporate and business strategies predicted financial performance. However, operational strategy was statistically insignificant. Additionally, all three strategies, namely operational, business, and corporate, significantly predicted SME survival. Financial performance predicted SME survival.Recommendations/value: Efforts to alleviate the decline and failure of women-owned SMEs should centre on imparting the owners with business management skills that primarily include an understanding of the formulation and implementation of strategy. Future research suggestions include extending the study to maleowned SMEs, other provinces of South Africa and the inclusion of non-registered SMEs.Managerial implications: Strategy formulation and implementation remain important anchors for the success of women-owned SMEs in South Africa. ZJ MUDARA CMAFINILinking strategy implementation to financial performance and firm survival in women-owned small to medium enterprises

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An assessment of strategic decision-making processes among small and micro enterprises in South Africa

Cited by 7 publications

References 22 publications

Overcoming economic liminality: internationalization of B2B SME’s from a small emerging economy

Overcoming economic liminality: internationalization of B2B SME’s from a small emerging economy

Factors influencing strategic decision-making in South African small businesses

Linking strategy implementation to financial performance and firm survival in women- owned small to medium enterprises

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