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Porter’s Business Strategies and Business Performance in SMEs

In: Entrepreneurial Innovation

Author

Listed:
  • Emil Knezović

    (International University of Sarajevo)

  • Aida Hamur

    (International University of Sarajevo)

Abstract

Companies are prone to develop more creative and innovative solutions to gain a competitive advantage, which would surprise and find their competitors unprepared. Such solutions often shed a light on the undisputable importance of adequate and consistent implementation of business strategies. For decades, business strategies are the key to achieving and maintaining a competitive advantage and ultimately gaining overall better organizational outcomes, and small businesses are not an exception. Regarding the typologies on business strategies, Porter’s generic business strategies (cost leadership, differentiation, and focus) remain one of the most widely accepted among practitioners and academicians. This study investigates Porter’s typologies and business performance in micro, small, and medium enterprises (MSMEs). A sample of 118 managers was collected using the cross-sectional survey method. Findings show that specific typologies are more favorable to business performance than others. To test hypotheses, a multiple regression was used. So far, prominent research on business strategies and business performance in MSMEs in Bosnia and Herzegovina was negligible. Therefore, this study contributes to understanding the relationship between Porter’s typologies and business performance in this context.

Suggested Citation

  • Emil Knezović & Aida Hamur, 2022. "Porter’s Business Strategies and Business Performance in SMEs," Studies on Entrepreneurship, Structural Change and Industrial Dynamics, in: Vanessa Ratten (ed.), Entrepreneurial Innovation, edition 1, pages 7-23, Springer.
    • Handle: RePEc:spr:seschp:978-981-16-4795-6_2
    DOI: 10.1007/978-981-16-4795-6_2
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