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Strategic Management in Estonian SMEs

Author

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  • Juhan Teder

    () (School of Economics and Business Administration, Tallinn University of Technology)

  • Urve Venesaar

    () (School of Economics and Business Administration, Tallinn University of Technology)

Abstract

The research is based on the empirical survey conducted among the members of Estonian Association of SMEs. The study involved goal setting, development and implementation of strategies, competitive advantages striven for, orientation toward growth, and factors hindering enterprisesí development. As a result, characteristics of strategic management in enterprises with different levels of growth orientation (expanding, stable and declining enterprises) as well as those depending on other enterpriseís characteristics (e.g., coincidence of managers and owners; age and size of enterprises, etc) were proposed. The analysis showed the existence of clear relationship between the coincidence of owners and managers and existence of formalised plans, whereby company growth leads to the increasing difference of coincidence of owners and managers and therefore increases the role of strategic plans in the enterprises. Measures taken for strategy formation (e.g. managersí role, cooperation) are supporting factors for positive implementation performance of the intended strategy in expanding firms. The analysis of the factors hindering company growth indicates an increasing need for managersí training in the area of strategic management. National entrepreneurship policy should, in addition to supporting start-up enterprises, pay more attention to supporting the implementation of company growth potential by help of relevant measures.

Suggested Citation

  • Juhan Teder & Urve Venesaar, 2005. "Strategic Management in Estonian SMEs," Working Papers 126, Tallinn School of Economics and Business Administration, Tallinn University of Technology.
  • Handle: RePEc:ttu:wpaper:126
    Note: We would like to thank Professor Jaak Leimann and Mr. Toomas Piliste (School of Economics and Business Administration, Tallinn University of Technology) for suggestions and support. The research was funded also by SIAR Foundation and the Estonian Science Foundation (Grant 5651).
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    References listed on IDEAS

    as
    1. Mariko Sakakibara & Michael E. Porter, 2001. "Competing At Home To Win Abroad: Evidence From Japanese Industry," The Review of Economics and Statistics, MIT Press, vol. 83(2), pages 310-322, May.
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    More about this item

    Keywords

    SME; strategic management; strategy implementation; coincidence of managers and owners; growth orientation; growth barriers; entrepreneurship policy.;

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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