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The High Growth in New Metal-Based Manufacturing and Business Service Firms in Finland

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  • Littunen, Hannu
  • Tohmo, Timo
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    Abstract

    This study examined the effects of the factors involved in the start-up situation and the first seven years' development on the subsequent high growth of firms. The criterion of success used in this study was high growth in business during the first seven years. The subjects were Finnish metal products manufacturing firms and business service firms established in 1990. The results indicated, firstly, that it is the internal networks of firms that bring about competitive advantage, innovations and efficiency. In these entrepreneurial team-driven firms a group of people participate in the strategic management of the firm. It was also found that co-operation between firms and changes in external personal networks contributed to a high rate of growth. The empirical results showed that new firms had equal chances for growth irrespective of their locality. On the other hand, growth was affected by changes in a new firm's competitive situation and by changes in strategic factors. The results also clearly indicated that high growth firms were characterised by rising productivity of labour at the same time as they were generating new jobs. Copyright 2003 by Kluwer Academic Publishers

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    Bibliographic Info

    Article provided by Springer in its journal Small Business Economics.

    Volume (Year): 21 (2003)
    Issue (Month): 2 (September)
    Pages: 187-200

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    Handle: RePEc:kap:sbusec:v:21:y:2003:i:2:p:187-200

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    Web page: http://www.springerlink.com/link.asp?id=100338

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    Cited by:
    1. Daunfeldt, Sven-Olov & Elert, Niklas & Johansson, Dan, 2010. "The Economic Contribution of High-Growth Firms: Do Definitions Matter?," Ratio Working Papers 151, The Ratio Institute.
    2. Lorraine Uhlaner & André Stel & Valérie Duplat & Haibo Zhou, 2013. "Disentangling the effects of organizational capabilities, innovation and firm size on SME sales growth," Small Business Economics, Springer, vol. 41(3), pages 581-607, October.
    3. Henrekson, Magnus & Johansson, Dan, 2008. "Gazelles as Job Creators – A Survey and Interpretation of the Evidence," Ratio Working Papers 117, The Ratio Institute.
    4. Macpherson, Allan & Holt, Robin, 2007. "Knowledge, learning and small firm growth: A systematic review of the evidence," Research Policy, Elsevier, vol. 36(2), pages 172-192, March.
    5. Simon Parker & David Storey & Arjen Witteloostuijn, 2010. "What happens to gazelles? The importance of dynamic management strategy," Small Business Economics, Springer, vol. 35(2), pages 203-226, September.
    6. André van Stel & Lorraine Uhlaner & Haibo Zhou & Valerie Duplat, 2012. "Disentangling the effects of organizational capabilities, innovation and firm size on SME sales growth," Scales Research Reports H201211, EIM Business and Policy Research.
    7. Paul Robson & Bernard Obeng, 2008. "The Barriers to Growth in Ghana," Small Business Economics, Springer, vol. 30(4), pages 385-403, April.
    8. Esa Storhammar & Timo Tohmo, 2011. "Innovation activity in the SMEs and local environment," ERSA conference papers ersa10p240, European Regional Science Association.
    9. Agrawal, Narendra M. & Khatri, Naresh & Srinivasan, R., 2012. "Managing growth: Human resource management challenges facing the Indian software industry," Journal of World Business, Elsevier, vol. 47(2), pages 159-166.
    10. Coad, Alex & Daunfeldt, Sven-Olov & Johansson, Dan & Wennberg, Karl, 2011. "Who do High-growth Firms Employ, and Who do they Hire?," Ratio Working Papers 169, The Ratio Institute.

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