Strategy in small firms

This chapter examines strategy in small firms, presenting findings from a longitudinal research study. Strategy in small firms does change over time and only by examining small firms over a longitudinal time period can these changes be fully identified and understood.
It is also important to recognise that all small firms cannot be treated in a homogeneous way, exhibiting common characteristics. Diversity should be embraced, with each firm treated on its own merits, with consideration given to its own specific set of circumstances. This presents challenges, particularly to support agencies and statutory bodies, where being able to adopt a common, unified approach would be preferable. Strategy in small firms tends to be emergent and unplanned, as well as being informal and intuitive. It can also be unclear and vague while also tending to be developed by one individual. The discussion is supported by qualitative insight from a series of case studies.