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Pivoting Strategic Business Approaches in the Strategic Business Advice Process: Lessons Learned from Case Studies of Small Innovative Firms

In: Eurasian Business Perspectives

Author

Listed:
  • Katarzyna Łobacz

    (University of Szczecin)

Abstract

Strategic business advice is perceived as the way to meet challenges related to business development and strategic change, with direct impact on business growth and productivity. Small innovative firms can benefit from it, as they are constantly seeking for new solutions in order to provide better market offers and are willing to achieve higher rents than industry average. Thus, they need to transform their strategic business approaches, including implementation of new products and increasing business model efficiency. In the paper, the process of business advice is explored, and critical stages of this process are distinguished and explained. The model of strategic business advice process is built based on case studies analysis, in which a process of pivoting business strategies has been especially explored. Therefore, two case studies illustrating pivoting (A) strategic idea of the product and (B) strategic business model approach are presented. It is concluded that strategic business advice is a powerful tool when pivot in company’s strategic orientation is necessary, but several conditions have to be met for the change to happen.

Suggested Citation

  • Katarzyna Łobacz, 2020. "Pivoting Strategic Business Approaches in the Strategic Business Advice Process: Lessons Learned from Case Studies of Small Innovative Firms," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Uchenna Tony-Okeke (ed.), Eurasian Business Perspectives, pages 99-115, Springer.
    • Handle: RePEc:spr:eurchp:978-3-030-48505-4_7
    DOI: 10.1007/978-3-030-48505-4_7
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