Small Businesses Beyond Resilience: A Functional Structure Approach to the Growth of Small Businesses in India

Vijay Bijlani (), Jireh Hooi Inn Seow () and Muniza Askari ()
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Vijay Bijlani: S P Jain School of Global Management
Jireh Hooi Inn Seow: Innovation and Entrepreneurship Centre (i2e)
Muniza Askari: S P Jain School of Global Management

Chapter Chapter 16 in Innovation-Driven Business and Sustainability in the Tropics, 2023, pp 275-290 from Springer

Abstract: Abstract India aimed to become a US$5 trillion economy and create additional 50 million employment opportunities. Small businesses contribute only 28 percent to total This industry and India’s GDP have the potential to expand more quickly. As such, the key question leading this research has been how can small businesses in India scale up? Small businesses are classified as micro, small, and medium enterprises and 110 million people in India are working in small businesses. This research employed participatory action research as a methodology with the researcher collecting the data being a practicing consultant to the small businesses. The research was conducted in a manufacturing small business engaged in power transmission motor belts. The results indicate that strengthening company resilience and giving small enterprises the tools, they need to recover from the COVID-19 epidemic requires adjustments in organizational cohesion and cooperation, flexibility, and resource management. Small enterprises might display creative and sensitive responses to the shifting market conditions. Nonetheless, for their efforts to be successful, small businesses must create and implement functional strategies and methods that are congruent. The research significantly contributed in the growth of motor belts unit and laid a foundation for other small businesses to follow the approach of growth through building functional structures.

Keywords: Entrepreneurs; Small businesses; Functional structures; The Covid-19 pandemic; Resilience; Enterprise growth (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-981-99-2909-2_16

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