Growth and performance contrasts between 'types' of small firms

This paper studies the interrelationships in the strategic profile of a sample of small firms, and, by using cross-sectional analysis, attempts to identify any evidence to support the `stages of growth' theories. Three surrogates for comparative growth were used in the analysis number of employ...

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Bibliographic Details
Published in:Strategic management journal 1990-11, Vol.11 (7), p.535-557
Main Authors: Birley, Sue, Westhead, Paul
Format: Article
Language:English
Subjects:
Applied sciences
Business structures
Cluster analysis
Economic competition
Employment
Exact sciences and technology
Financial management
Firm modelling
Investment management companies
Machinery
Management training
Managers
Market positioning
Operational research and scientific management
Operational research. Management science
Product lines
Sales personnel
Shareholders
Small business
Small businesses
Strategic management
Strategic planning
Trends
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Summary:This paper studies the interrelationships in the strategic profile of a sample of small firms, and, by using cross-sectional analysis, attempts to identify any evidence to support the `stages of growth' theories. Three surrogates for comparative growth were used in the analysis number of employees, sales turnover, and profitability. A cluster analysis identified eight different `types' of small firms characterized by `internal' variables of ownership, management, and product structure, and by `external' variables of product/market positioning Analysis of variance tests found no significant differences between the clusters with regard to size. The results suggest that firms do change, but not necessarily in any prescribed sequence. Indeed, the evidence presented in this paper suggests that future research should be focused on developing theories which better describe the heterogeneity of the sector by analyzing the development within clusters of firms rather than seeking generalized over-arching theories.
ISSN:0143-2095
1097-0266
DOI:10.1002/smj.4250110705