Competitive advantage and growth: the challenge for small firms

Gary A. Packham

International Journal of Management and Decision Making, 2002, vol. 3, issue 2, 165-179

Abstract: Strategic success is often attributed to a firm that can achieve a long term competitive advantage. In recent years, there has been an increasing body of literature which purports that sources of competitive advantage are derived from the complex interaction between management decision, the development of organisational routines and the acquisition and allocation of knowledge and resources. Despite these advancements in theoretical thinking, there have been limited attempts to apply these concepts to small ventures. This paper discusses the implications of achieving competitive advantage for growth-oriented firms and the difficulties associated with management development in entrepreneurial organisations. Moreover, the paper posits that further research is required in order to comprehend how the preferences of owner-managers ultimately shape the strategic direction, scope and competitive advantage of a small firm.

Keywords: small firms; competitive advantage; decision making; growth. (search for similar items in EconPapers)
Date: 2002
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