Although extant literature on small and medium-sized enterprises (SMEs) suggests that strategic management positively affects organizational outcomes, evidence supporting this suggestion is limited to a few qualitative case studies. As many SMEs struggle with limited access to resources and with it no opportuni-ty to enact a large and complex strategic management concept. This thesis develops a strategic management concept that considers these limitations. Drawing on resource- related arguments this study presents a frame-work for how a strategic management concept can be designed and implemented at a high-tech SME.
Methods: A single case study at a German technology company was applied, in which the strategy was formu-lated with the strengths-, weaknesses-, opportunities- and threats- (SWOT) analysis and further, the strategy was employed with the Balanced Scorecard. Therefore, an expert interview with the chief execution officer (CEO) was conducted, and a team out of high-level employees of the enterprise was assembled to discuss the steps of the developing processes.
Results: As it was possible to design and implement a framework that includes strategy -formulation and -implementation with limited resources of the case company, this study extends the literature by providing a reference case for other companies, especially SMEs. Furthermore, the paper provides evidence how the SWOT analysis and BSC theories can be applicated in a practical case.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Theoretical Framework
- Definitions
- Designing a Strategic Management System
- Enterprise Philosophy
- Strategy Formulation
- Strategy Implementation
- Designing and Implementation Problems
- Research Method
- Research Design
- Research Site
- Data Collection and Analysis
- Results
- Current Situation of the Case Company
- Strategy Formulation
- Strategy Implementation
- Discussion
- Theoretical Implications
- Managerial Implications
- Limitations
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This thesis aims to develop a strategic management concept that is suitable for small- and medium-sized enterprises (SMEs) and considers their limited resources. This concept is applied to a German high-tech company in the automotive industry. The thesis seeks to answer the question of what suitable strategic management methods are for SMEs and how they can satisfy the strategic needs of high-tech SMEs.
- Strategic management in SMEs
- Resource-related arguments in strategic management
- Design and implementation of a strategic management concept
- SWOT analysis in SMEs
- The Balanced Scorecard (BSC) in SMEs
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction outlines the economic significance of SMEs and the need for effective strategic management in this sector. It explores the challenges SMEs face in adopting strategic management practices due to limited resources and the prevalence of owner-managed structures. The chapter discusses the use of the Balanced Scorecard (BSC) as a potential strategic management method for SMEs and highlights the existing research gap in this area.
The theoretical framework chapter presents a comprehensive overview of strategic management, defining key concepts and outlining the process of designing a strategic management system. This includes considerations for enterprise philosophy, strategy formulation, and implementation. The chapter further discusses common challenges and problems associated with designing and implementing a strategic management system in SMEs.
The research method chapter details the methodology employed in this thesis. It describes the use of a single case study at a German technology company, XY GmbH, which produces data loggers for the automotive industry. The chapter explains the action research (AR) methodology and its unique features, particularly the active participation of the researcher. It further outlines the data collection and analysis methods, including expert interviews and team discussions, to gather insights into the company's strategic management practices.
The results chapter presents the findings of the case study at XY GmbH. It provides an analysis of the company's current situation, focusing on the existing strategic planning approach and the challenges they face. The chapter then outlines the strategy formulation process using the SWOT analysis, showcasing the development of strategic options for the company. Finally, the chapter describes the implementation of these strategies using the Balanced Scorecard (BSC), highlighting how this tool can be applied to translate strategic goals into measurable actions.
Schlüsselwörter (Keywords)
This thesis explores the application of strategic management principles in SMEs, specifically focusing on the use of the SWOT analysis and the Balanced Scorecard (BSC) for strategy formulation and implementation. The study examines the resource-based view of strategic management, considering the limitations of SMEs, and aims to provide a practical framework for designing and implementing a strategic management concept in a high-tech SME. The research focuses on the specific case of XY GmbH, a German technology company in the automotive industry.
- Quote paper
- Anonym (Author), 2019, Designing and Implementing a Strategic Management Concept in an High-Tech SME, Munich, GRIN Verlag, https://www.grin.com/document/513648
