Planning and Strategy in the Small Firm

Tim Mazzarol and Sophie Reboud
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Tim Mazzarol: University of Western Australia
Sophie Reboud: Burgundy School of Business

Chapter 4 in Small Business Management, 2020, pp 95-152 from Springer

Abstract: Abstract Small business owner-managers have been found to have a less sophisticated approach to formal business planning than their counterparts in larger firms. This is generally related to a lower level of systematic data gathering or a low level of statistical analysis. However, owner-managers are strategically aware and realise the consequences of their decisions (Rice, 1983). The lack of formal business planning has been attributed to the high failure rate among small firms particularly among start-ups (Castrogiovanni, 1996).

Date: 2020
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DOI: 10.1007/978-981-13-9509-3_4

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