Strategic management and entrepreneurship essay

It also helps the organisation adapt to changes in its operating environment and maintain competitive advantage.

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This makes employee job security and motivation to be close to non-existent in such businesses Storeuy, E and Jain AK, The researcher hoped to produce recommendations that would inspire the adoption of strategic management in SMEs, helping them graduate into mainstream businesses that offer competitive products and services.

Academy of Management Review 24 1 : 13— In this chapter, the range and nature of SMEs in Zimbabwe and Harare, are explored considering the management and leadership styles. His conceptualization of the firm and its relationships within society transcends stale arguments over shareholders versus stakeholders by viewing the firm less as an agent of individual interests and more as an engine of social development that unifies the interests of the different participants.

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Flexibility of strategy enhances the possibility of relevant review and refocusing as the organisation progresses Ritson, ; Morden, The research involved mixing and exchanging views with small-scale business persons who used little or no business models and those that believed planning was not important in the running of their business.

This is done either unknowingly, by those who have not received any business management training or consciously by those who have an understanding of the dynamics of leadership styles.

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In view of the size of the population involved in SMEs in Zimbabwe, the researcher feels that this sector needs to be promoted from a mere subsistence and economically insignificant sector to a vibrant one, that contributes to the national economy RBZ, ; Goriwondo, This tendency is quite common in small and medium-scale businesses, especially in view of their origins and orientation Goriwondo, This style works well when members of staff are highly skilled, educated and full of experience.

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