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The Theory and Practice of Strategic Management in Smaller Rapid Growth Firms

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  • Jeffrey C. Shuman
  • John A. Seeger

Abstract

This article contrasts the theory of strategic planning with actual practice in smaller rapid growth companies. The literature on strategic planning in general and smaller organizations in particular is synthesized into a normative planning structure and framework. The resulting model is then contrasted with actual planning practice within the 500 fastest growing privately held companies (ranked according to percentage of sales increases) in the United States.

Suggested Citation

  • Jeffrey C. Shuman & John A. Seeger, 1986. "The Theory and Practice of Strategic Management in Smaller Rapid Growth Firms," Entrepreneurship Theory and Practice, , vol. 11(1), pages 7-18, July.
    • Handle: RePEc:sae:entthe:v:11:y:1986:i:1:p:7-18
    DOI: 10.1177/104225878601100101
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    References listed on IDEAS

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    1. Richard B. Robinson & John A. Pearce, 1983. "The impact of formalized strategic planning on financial performance in small organizations," Strategic Management Journal, Wiley Blackwell, vol. 4(3), pages 197-207, July.
    2. George H. Rice Jr. & Richard E. Hamilton, 1979. "Decision Theory and the Small Businessman," Entrepreneurship Theory and Practice, , vol. 4(1), pages 1-9, July.
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    Cited by:

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    2. Singla, Chitra & George, Rejie, 2013. "Internationalization and performance: A contextual analysis of Indian firms," Journal of Business Research, Elsevier, vol. 66(12), pages 2500-2506.
    3. Kalogeras, Nikos & Pennings, Joost M.E. & Garcia, Philip, 2006. "What Drives Strategic Behavior? A Framework to Explain and Predict SMEs' Transition to Sustainable Production Systems," 2006 Annual meeting, July 23-26, Long Beach, CA 21354, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Lu, Jane W. & Beamish, Paul W., 2006. "Partnering strategies and performance of SMEs' international joint ventures," Journal of Business Venturing, Elsevier, vol. 21(4), pages 461-486, July.
    5. Wieslaw Urban & Katarzyna Krot & Anna Tomaszuk, 2023. "A cross-national study of internationalisation barriers with reference to SME value chain," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 18(2), pages 523-549, June.
    6. Peters, Michael P. & Brush, Candida G., 1996. "Market information scanning activities and growth in new ventures: A comparison of service and manufacturing businesses," Journal of Business Research, Elsevier, vol. 36(1), pages 81-89, May.
    7. Sophie Claye-Puaux & Gilles Guieu, 2014. "Logistics and small business: an exploratory typology [Logistique et petite entreprise : une étude typologique exploratoire]," Post-Print halshs-01413762, HAL.
    8. Laufs, Katharina & Schwens, Christian, 2014. "Foreign market entry mode choice of small and medium-sized enterprises: A systematic review and future research agenda," International Business Review, Elsevier, vol. 23(6), pages 1109-1126.
    9. Fernández-Olmos, Marta & Díez-Vial, Isabel, 2013. "Effect of firm’s resources on international diversification: An application in the Iberian Ham industry," European Management Journal, Elsevier, vol. 31(2), pages 196-208.
    10. Wenke, Kathrin & Zapkau, Florian B. & Schwens, Christian, 2021. "Too small to do it all? A meta-analysis on the relative relationships of exploration, exploitation, and ambidexterity with SME performance," Journal of Business Research, Elsevier, vol. 132(C), pages 653-665.
    11. Juan Fernando Botero Mesa & Federico Alvarez Pareja & Maria Alejandra Gonzalez-Perez, 2012. "Modelos de internacionalización para las pymes colombianas," Revista Ad-Minister, Universidad EAFIT, June.
    12. Nuri YILDIRIM, 2011. "No Appealing Future For High Growth – Low Profitability Firms: Evidence from Turkey’s Top 1000," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 26(307), pages 31-45.
    13. Lucio Morettini & Bianca Potì & Roberto Gabriele, 2023. "Process and strategies of growth in medium-sized fast-growing firms," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 50(3), pages 605-626, September.
    14. Kahia, Montassar, 2017. "The key factors of export intensity in Tunisia: A Logistic regression with random effect model," MPRA Paper 77278, University Library of Munich, Germany.
    15. Donatella Depperu & Giacomo Magnani & Lisa Crosato & Caterina Liberati, 2021. "Growth of Firms in a Fragmented Cultural Industry: Italian Commercial Art Galleries’ Competitive Strategies," Sustainability, MDPI, vol. 13(9), pages 1-19, April.
    16. Andreas Bausch & Mario Krist, 2007. "The effect of context-related moderators on the internationalization-performance relationship: Evidence from meta-analysis," Management International Review, Springer, vol. 47(3), pages 319-347, June.
    17. Feng-Jyh Lin & ChihuFeng Lai, 2021. "Key factors affecting technological capabilities in small and medium-sized Enterprises in Taiwan," International Entrepreneurship and Management Journal, Springer, vol. 17(1), pages 131-143, March.
    18. Harris, Lloyd C. & Ogbonna, Emmanuel, 2006. "Initiating strategic planning," Journal of Business Research, Elsevier, vol. 59(1), pages 100-111, January.
    19. Oyvin Kyvik & Willem Saris & Eduard Bonet & J. Felício, 2013. "The internationalization of small firms: The relationship between the global mindset and firms’ internationalization behavior," Journal of International Entrepreneurship, Springer, vol. 11(2), pages 172-195, June.
    20. Andreea N. Kiss & Stephanie Fernhaber & Patricia P. McDougall–Covin, 2018. "Slack, Innovation, and Export Intensity: Implications for Small– and Medium–Sized Enterprises," Entrepreneurship Theory and Practice, , vol. 42(5), pages 671-697, September.
    21. Greening, Daniel W. & Barringer, Bruce R. & Macy, Granger, 1996. "A qualitative study of managerial challenges facing small business geographic expansion," Journal of Business Venturing, Elsevier, vol. 11(4), pages 233-256, July.
    22. Justin J. P. Jansen & Ciaran Heavey & Tom J. M. Mom & Zeki Simsek & Shaker A. Zahra, 2023. "Scaling‐up: Building, Leading and Sustaining Rapid Growth Over Time," Journal of Management Studies, Wiley Blackwell, vol. 60(3), pages 581-604, May.
    23. Gideon D. Markman & William B. Gartner, 2002. "Is Extraordinary Growth Profitable? A Study of Inc. 500 High–Growth Companies," Entrepreneurship Theory and Practice, , vol. 27(1), pages 65-75, January.
    24. Cristina Pérez-Pérez & Diana Benito-Osorio & Susana María García-Moreno, 2021. "New Puppets in the Old School: The Applicability of Traditional Internationalisation Theories in the Sharing Economy," Administrative Sciences, MDPI, vol. 11(3), pages 1-24, September.
    25. Mansura Akter & Mahfuzur Rahman & Dragana Radicic, 2019. "Women Entrepreneurship in International Trade: Bridging the Gap by Bringing Feminist Theories into Entrepreneurship and Internationalization Theories," Sustainability, MDPI, vol. 11(22), pages 1-28, November.

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