This research was carried out with the objective of establishing the challenges faced by small and medium scale entrepreneurs in their efforts to adopt strategic management in their value chains. A review of relevant literature revealed that strategic management is a very important approach that all businesses need, no matter their size, in order to enhance effectiveness. It is known to support professionalism, profitability and sustainable value addition when applied according to best practice.
Quantitative and qualitative approaches to data gathering were applied to enable the researcher to establish a richer picture of the exact situation on the ground. Quantitative data were collected from a sample of 292 respondents while qualitative data were obtained from a sample of 127 key informants and stakeholders. Drawing inspiration from the survival strategies of the chameleon, the researcher postulated the Chameleon Survival Strategy Model for small and medium-scale enterprises. The model was then used as a benchmark in the analysis of quantitative data, which were treated using the statistical package for the social sciences (SPSS) and qualitative data, which were content analysed. The chameleon survival strategy was used as the standard to assess the extent to which small and medium scale enterprises were compliant with the fundamentals of strategic management as exhibited by the chameleon in its environment.
The key findings were that SMEs failed the Chameleon Survival Strategy Model test, based on the overall value of the model’s index obtained after data analysis. It was observed that SMEs did not practice strategic management and were therefore not consistent with the chameleon survival strategies, outlined in the model’s seven attributes.
The conclusions drawn, recommendations and implications of the study on Government policy, the work of stakeholders and entrepreneurs, are presented in this document. The conclusions point to the need for Government and stakeholders to revisit their interventions and support programmes targeting entrepreneurs, to include strategic management capacity development. The lack of knowledge and exposure was found to be the key reason for entrepreneurs’ failure to embrace strategic management in their operations. It is also recommended that Government and stakeholders carry out constant needs assessment to establish the exact needs of entrepreneurs, which tend to be quite dynamic.
Table of Contents
- Chapter 1: Introduction
- Chapter 2: Literature Review
- Chapter 3: Research Methodology
- Chapter 4: Data Analysis and Findings
- Chapter 5: Discussion of Findings
Objectives and Key Themes
This research aims to identify the challenges faced by small and medium-scale enterprises (SMEs) in adopting strategic management within their value chains. The study investigates the impact of this lack of adoption on SME effectiveness, profitability, and sustainability.
- Strategic management adoption in SMEs
- Challenges faced by SMEs in implementing strategic management
- The impact of strategic management on SME performance
- Development of the Chameleon Survival Strategy Model
- Policy recommendations for supporting SME strategic management capacity
Chapter Summaries
Chapter 1: Introduction: This chapter introduces the research topic, highlighting the importance of strategic management for businesses of all sizes. It establishes the context of the study by focusing on the challenges faced by SMEs in Harare, Zimbabwe, in adopting strategic management practices. The chapter also outlines the research objectives, questions, and the overall structure of the thesis.
Chapter 2: Literature Review: This chapter presents a comprehensive review of existing literature on strategic management, focusing on its theoretical underpinnings and practical applications within the context of SMEs. It examines various models and frameworks relevant to understanding SME challenges and explores the existing body of knowledge related to SME performance and growth in developing economies. This section establishes a theoretical foundation for the study and highlights the gaps in the existing research that the current study aims to address.
Chapter 3: Research Methodology: This chapter details the research design and methodology employed in the study. It describes the quantitative and qualitative data collection methods used, including the sampling techniques, data collection instruments, and the rationale for choosing a mixed-methods approach. The chapter also outlines the data analysis techniques that will be employed to answer the research questions, focusing on the use of SPSS for quantitative data and content analysis for qualitative data. The development and justification of the "Chameleon Survival Strategy Model" are also explained in detail.
Chapter 4: Data Analysis and Findings: This chapter presents the findings of the study based on the analysis of both quantitative and qualitative data. It details the statistical analysis of the quantitative data collected from 292 respondents and presents the results of the content analysis of qualitative data obtained from 127 key informants and stakeholders. The chapter compares the findings against the predictions of the Chameleon Survival Strategy Model, highlighting areas of agreement and disagreement.
Chapter 5: Discussion of Findings: This chapter discusses the key findings of the study, interpreting the results in the light of existing literature and theoretical frameworks. It explores the implications of the findings for SMEs, policymakers, and other stakeholders. The discussion critically examines the extent to which SMEs in Harare are adopting strategic management practices and identifies the underlying reasons for the observed patterns. The significance of the findings and their contribution to the existing body of knowledge are also highlighted.
Keywords
Strategic management, small and medium-scale enterprises (SMEs), Zimbabwe, value chain, Chameleon Survival Strategy Model, quantitative research, qualitative research, SME performance, sustainable business practices, policy recommendations.
Frequently Asked Questions: A Comprehensive Language Preview
What is this document?
This document is a comprehensive language preview of a research thesis. It includes the table of contents, objectives and key themes, chapter summaries, and keywords. The research focuses on the challenges faced by small and medium-scale enterprises (SMEs) in adopting strategic management in Zimbabwe.
What are the main objectives of the research?
The research aims to identify the challenges SMEs face in adopting strategic management within their value chains and to investigate the impact of this lack of adoption on SME effectiveness, profitability, and sustainability. It also aims to develop a "Chameleon Survival Strategy Model" and provide policy recommendations.
What are the key themes explored in the research?
Key themes include strategic management adoption in SMEs, challenges faced by SMEs in implementing strategic management, the impact of strategic management on SME performance, the development of the Chameleon Survival Strategy Model, and policy recommendations for supporting SME strategic management capacity.
What is covered in each chapter?
Chapter 1 (Introduction): Introduces the research topic, its context in Harare, Zimbabwe, and outlines the research objectives and structure. Chapter 2 (Literature Review): Reviews existing literature on strategic management, focusing on its application in SMEs, particularly in developing economies. Chapter 3 (Research Methodology): Details the research design, data collection methods (quantitative and qualitative), and data analysis techniques (SPSS and content analysis). It also explains the development of the "Chameleon Survival Strategy Model". Chapter 4 (Data Analysis and Findings): Presents findings from both quantitative (292 respondents) and qualitative (127 key informants) data, comparing them to the predictions of the Chameleon Survival Strategy Model. Chapter 5 (Discussion of Findings): Discusses the key findings, interpreting them in light of existing literature, and exploring their implications for SMEs, policymakers, and stakeholders.
What research methods were used?
The research employs a mixed-methods approach, using both quantitative and qualitative data collection and analysis. Quantitative data was analyzed using SPSS, while qualitative data was analyzed through content analysis.
What is the "Chameleon Survival Strategy Model"?
The "Chameleon Survival Strategy Model" is a model developed within this research. Details on its development and justification are provided in Chapter 3, and its predictions are compared to the research findings in Chapter 4.
What are the key findings of the research (in brief)?
The key findings, detailed in Chapters 4 and 5, explore the extent to which SMEs in Harare are adopting strategic management practices, identify the reasons for observed patterns, and discuss the implications for SMEs and policymakers.
What are the keywords associated with this research?
Keywords include: Strategic management, small and medium-scale enterprises (SMEs), Zimbabwe, value chain, Chameleon Survival Strategy Model, quantitative research, qualitative research, SME performance, sustainable business practices, policy recommendations.
Who is the target audience for this research?
The target audience includes SMEs, policymakers, researchers, and other stakeholders interested in strategic management in developing economies, particularly in the context of Zimbabwe.
- Citar trabajo
- Alick Mhizha (Autor), 2014, Strategic Management Practices and Challenges. The Case of Small and Medium Scale Enterprises in Harare, Múnich, GRIN Verlag, https://www.grin.com/document/296016
