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Showing posts with the label entrepreneurial strategy

Encouraging Small Business Entrepreneurship through Knowledge Development

Small business and entrepreneurship are hot topics in the U.S. economy and it is believed they will make significant contributions to America’s reemergence as a nation of opportunity and growth. A study of 200 small business entrepreneurs in the U.S. and India help highlight how education, personal development and focus contribute to growth (Scales, 2014).   There is an increasing need to teach entrepreneurship and small business development in college to match skills to knowledge needed in the market. He argues: 1.       The need to teach the difference between small business development; and, 2.       The actual behaviors of entrepreneurs and small business owners. Education can play a significant part in developing and growing the entrepreneurial class. Small business owners should move more toward an entrepreneurial orientation and seek to further reach the next level in business volume. They will need new knowledge to function at their maximum capacity. This re

The Development of Strategy in Small and Medium Organizations

Strategy formation may be one of the most important aspects of managing a company. Without a proper strategy the ship bounces around the sea in hopes of finding fruitful land. How that strategy is formed is often a difficult question to answer. Research by Pop and Borza, (2013) helps to determine how strategy works within small and medium organizations (SME). This helps further solidify the concept that strategy is based     upon the environment and resources available that help to make companies more competitive. In developing strategic decisions it is important for managers to interpret the signals coming from the internal and external environment appropriately. Doing so creates an opportunity to formulate strategies not only for their daily operations but also for long term corporate interests. It is this strategy that will act as a guide to regeneration and renewal that leads to corporate achievement.  Successful strategies are developed, implemented and then re-evalu