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What happens to gazelles? The importance of dynamic management strategy

Small business economics, 2010-09, Vol.35 (2), p.203-226 [Peer Reviewed Journal]

2010 Springer ;The Author(s) 2010 ;Springer Science+Business Media, LLC. 2010 ;ISSN: 0921-898X ;EISSN: 1573-0913 ;DOI: 10.1007/s11187-009-9250-2

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Title:
What happens to gazelles? The importance of dynamic management strategy
Author: Parker, Simon C. ; Storey, David J. ; van Witteloostuijn, Arjen
Subjects: Business and Management ; Business growth ; Business management ; Business practices ; Business structures ; Consumer goods industries ; Corporate strategies ; Direct sales ; Economic conditions ; Economic growth ; Economic growth rate ; Employment ; Entrepreneurship ; Financial performance ; GDP ; Gross Domestic Product ; Growth rate ; Industrial Organization ; Management ; Management theory ; Marketing ; Marketing strategies ; Microeconomics ; Organizational change ; Random variables ; Sales growth ; Sales management ; Sales strategies ; Size of enterprise ; Strategic management ; Strategic planning ; Studies ; United Kingdom
Is Part Of: Small business economics, 2010-09, Vol.35 (2), p.203-226
Description: The starting point of this study is Gibrat's Law, which is contrasted with strategic management. This logic is subsequently applied to a group of remarkably dynamic, high-growth firms: gazelles. Strategic management theory emphasises the importance of firms adjusting strategies in response to changes in the external environment. In our study, it is used to explain several key empirical findings using a novel British data set containing information on more than 100 gazelles. These findings help explain: (1) why Gibrat's Law of random firm growth processes does not generally hold, (2) which strategy and environmental variables have a predictable influence on firm performance and (3) why routine application of 'best practice' strategies is unlikely to foster firm growth in a changing economic environment. In so doing, this paper contributes to the large body of literature on small-firm growth.
Publisher: Boston: Springer
Language: English
Identifier: ISSN: 0921-898X
EISSN: 1573-0913
DOI: 10.1007/s11187-009-9250-2
Source: SpringerOpen
AUTh Library subscriptions: ProQuest Central
Alma/SFX Local Collection

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What happens to gazelles? The importance of dynamic management strategy

2010 Springer ;The Author(s) 2010 ;Springer Science+Business Media, LLC. 2010 ;ISSN: 0921-898X ;EISSN: 1573-0913 ;DOI: 10.1007/s11187-009-9250-2

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