Catalyzing Small Business Growth:The Five Step Way

Authors

  • Raj K. Shankar

DOI:

https://doi.org/10.33516/rb.v41i4.57-65p

Keywords:

Strategy and Small Business, Strategic Thinking, Small Business Strategy Formulation, Indian MSME.

Abstract

There are millions of micro, small and medium enterprises (MSMEj in India. Their population is increasing with wide spread entrepreneurship. While it is a positive trend for the sector, MSMEs breaking out of the pack and becoming large enterprises is extremely rare. With India exploding into an opportunity bonanza for entrepreneurial individuals, our high potential MSMEs have tremendous scope to not just thrive but break out full throttle. Lack of a clear and well crafted strategy is one reason for its non-occurrence. Much of strategic thinking literature also remains out of bounds for the typical Indian MSME. Using academic literature and author's experience with the sector, this paper provides a simple five-step approach to strategy formulation. This approach can enable MSMEs set the right aspirations, make the right design choices, and recreate their enterprises for scale.

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Published

2016-01-01

How to Cite

Shankar, R. K. (2016). Catalyzing Small Business Growth:The Five Step Way. Research Bulletin, 41(4), 57–65. https://doi.org/10.33516/rb.v41i4.57-65p

Issue

Volume 41, Issue 4, January 2016

Section

Articles
Crossref
Scopus
Google Scholar
Europe PMC

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