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Business strategies for entrepreneurial small firms
Author(s) -
Anderson Alistair R.,
Atkins Martin H.
Publication year - 2001
Publication title -
strategic change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.527
H-Index - 16
eISSN - 1099-1697
pISSN - 1086-1718
DOI - 10.1002/jsc.554
Subject(s) - context (archaeology) , business , industrial organization , small business , entrepreneurship , marketing , economics , microeconomics , finance , paleontology , biology
This paper addresses the issue of the nature and context of business strategies in entrepreneurial small firms. It examines a number of existing models of strategic planning and suggests that they cannot adequately cope with environmental uncertainty. Developing the idea that effective strategy formation is processual in a stochastic environment, the paper proposes four alternative high‐level approaches (Meta strategies) entrepreneurial firms might use to cope with uncertainty. These stress the notion of evolution as a direction rather than a series of staged events. Copyright © 2001 John Wiley & Sons, Ltd.