Volume- 1
Issue- 2
Year- 2014
Article Tools: Print the Abstract | Indexing metadata | How to cite item | Email this article | Post a Comment
Pushpa Hongal , Dr.Poornima Charantimath
Indian Micro, Small, Medium and Micro enterprises [MSME] play a predominant role in the economic development of country. It contributes nearly 45% of industrial output, 35% of exports , 42 million in employment, create one million jobs every year and produces more than 8000 quality products for the Indian and international markets. Today MSMEs are exposed to greater opportunities for expansion as the fundamental nature of competition is changing. The Indian market is growing rapidly and Indian industry is making remarkable progress in various Industries. It is becoming very difficult to determine the boundaries for industries and countries, therefore borders between different countries are vanishing. It is throwing a huge challenge for MSMEs to make their remarkable progress. Though huge opportunity is there for MSMEs to grow, they are facing a problem of lack of professionalism, adaptation of proper strategies at the right stage and severe competition from large scale industries. This particular research is undertaken to evaluate strategic planning as a management tool for MSMEs, with a view to help them to achieve more competitive advantage over a long run. The main objective of this research is to appraise the value of strategic management concepts and techniques, as applied to MSMEs & provide guidelines for them to apply strategic management to prevent major crisis and business failures which generally happens in Indian MSMEs. This conceptual research was supported by interviews of senior business professionals, research papers and review of research articles to arrive at conclusion. The conclusion is that strategic management is most relevant to MSMEs. If proper implication of strategic management is done in various stages of business it is possible to avoid threats and crisis and MSMEs can achieve competitive advantage over a long run. To solve the problem of MSMEs stage wise implementation of strategic management is proposed, by considering the ground reality in India.
[1] ABS (2002), Small Business in Australia 2001, Australian Bureau of Statistics, Canberra,
[2] Ackelsberg, R. and Arlow, R. (1985), “Small businesses do plan and it pays off”, Long Range.
[3] Alpander, G., Carter, K. and Forsgren, R. (1990), “Managerial issues and problem-solving .
[4] Alvarez, S.A. and Barney, J.B. (2004), “Organizing rent generation and appropriation: toward a
[5] Ansoff, H.J. (1965), Corporate Strategy, McGraw-Hill, New York, NY.
[6] Barney, J.B. (1991), “Firm resources and sustained competitive advantage”, Journal of
[7] Barney, J.B. and Arikan, A.M. (2001), “The resource-based view: origins and implications”,
[8] Baum, J.R. and Wally, S. (2003), “Strategic decision speed and firm performance”, Strategic
[9] Bourgeois, L.J. III and Eisenhardt, K.M. (1988), “Strategic decision processes in high velocity
[10] Brouthers, K.D., Andriessen, F. and Nicolaes, I. (1998), “Driving blind: strategic decision-making in small companies”, Long Range Planning, Vol. 31 No. 1, pp. 130-8.
[11] Cat. 1321.0, Commonwealth of Australia.
[12] Cyert, R.M. and March, J.G. (1962), A Behavioural. Theory of the Firm, Prentice-Hall, Englewood
[13] Dr. Yunus Adeleke Dauda “Strategic Management Practice and Corporate Performance ofSelected Small Business Enterprises in Lagos Metropolis”, International Journal of Business and Management Vol. 5, No. 11; November 201
[14] environments: four cases in the microcomputer industry”, Management Science, Vol. 34
[15] formative years”, Journal of Small Business Management, Vol. 28 No. 2, pp. 9-18.
[16] Tim Mazzarol, Strategic planning in growthoriented small firms
[17] www.emeraldinsight.com
[18] Xueli Huang “Strategic decision making in Chinese SMEs”
Research Scholar Singhania University, Rajastan,India
No. of Downloads: 9 | No. of Views: 1036
Dipankar Pradhan, Debasish Mondal.
October 2024 - Vol 11, Issue 5
Th John Lerphangam Monsang.
August 2024 - Vol 11, Issue 4
Afina Hasya, Sukiman.
June 2024 - Vol 11, Issue 3