Strategic management tools – Worth the trouble? : An examination of entrepreneurial businesses in the United Kingdom
Master thesis
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http://hdl.handle.net/11250/275457Utgivelsesdato
2014Metadata
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Sammendrag
Although small businesses outnumber larger corporations, little focus has been given to such businesses with regards to the performance effect of utilising strategic management tools. This thesis focuses on entrepreneurial businesses in the United Kingdom as it investigates whether use of strategic management tools affects performance.
This study employed a quantitative research methodology whereby an electronic survey was sent out to 239 entrepreneurial businesses in the UK. A performance measure was developed for the testing of the hypotheses, and was found to be a reliable measure with strong internal consistency. A statistically significant relationship between use of strategic management tools and performance was found. Four additional hypotheses were developed concerning the effect on performance by use of the Balanced Scorecard, Total Quality Management, the Business Model Canvas and Strategic Benchmarking. Insufficient data on the use of these strategic management tools meant these hypotheses could not be tested