Small Business Strategy: The Exploitation Of Available Opportunities (Research Proposal Sample)

Small Business Strategy Name Instructor Institution Course Date Introduction Small businesses often seek to ensure that they develop a strategy that they can make use of to advance their interests, including their competitiveness as well as the promotion of means through which to bring about sustainability. This is an area that has not been given much attention in research, with a considerable number of studies instead focusing on the manner through which large corporations develop their strategies. The result of this situation is that there have been very few attempts to consider small business strategies in the contemporary world. This research is one that seeks to explore the diverse aspects of the development of strategy among small businesses. These aspects include decisions, tools, actions, and techniques that are made use of to ensure that there is the development of a competitive, productive, and profitable business that is capable of making sure that it changes quickly in order to adapt to its environment ADDIN EN.CITE <EndNote><Cite><Author>Weber</Author><Year>2015</Year><RecNum>66</RecNum><DisplayText>(Weber, Geneste, &amp; Connell, 2015)</DisplayText><record><rec-number>66</rec-number><foreign-keys><key app="EN" db-id="axpfs2xwpvexwle0z05x2proe2rparfrx9pd" timestamp="1531287842">66</key></foreign-keys><ref-type name="Journal Article">17</ref-type><contributors><authors><author>Weber, Paull</author><author>Geneste, Louis Andre</author><author>Connell, Julia</author></authors></contributors><titles><title>Small business growth: strategic goals and owner preparedness</title><secondary-title>Journal of Business Strategy</secondary-title></titles><periodical><full-title>Journal of Business Strategy</full-title></periodical><pages>30-36</pages><volume>36</volume><number>3</number><dates><year>2015</year></dates><isbn>0275-6668</isbn><urls></urls></record></Cite></EndNote>(Weber, Geneste, & Connell, 2015). Thus, it will be essential to make sure that there is the establishment of the goal of studying the roles and practices of the management of small businesses in such a way that promotes the development of appropriate strategies that can help them achieve their goals. In this way, there will be a comprehensive study of the way that small businesses can be able to ensure that they differentiate themselves from others while at the same time being able to compete both locally and internationally within the markets in which they operate. There are a number of objectives which this study seeks to address and these will be extremely pertinent when it comes to working towards the achievement of the goal of answering the research questions. The first of these objectives is that it involves the assessment of specific issues and needs that small businesses might have in the process of bringing about their competitiveness in both local and international markets. Furthermore, there is a process where there is the need to determine the various challenges and opportunities that small businesses have to resolve within their environments through the use of innovation so that they can be more productive. Furthermore, there will be a process through which to show the way that small businesses develop their strategies in a way that ensures that their various specific sectors are monitored and supported in order to build up strong features that help the businesses withstand market pressures. Literature Review Small businesses are increasingly adopting a strategic stance when it comes to the exploitation of opportunities available to them. This is especially the case when it comes to the development of strategies that are aimed at promoting the competitive advantage and enhancement of the performance of the business ADDIN EN.CITE <EndNote><Cite><Author>Leonidou</Author><Year>2017</Year><RecNum>62</RecNum><DisplayText>(Leonidou, Christodoulides, Kyrgidou, &amp; Palihawadana, 2017)</DisplayText><record><rec-number>62</rec-number><foreign-keys><key app="EN" db-id="axpfs2xwpvexwle0z05x2proe2rparfrx9pd" timestamp="1531246647">62</key></foreign-keys><ref-type name="Journal Article">17</ref-type><contributors><authors><author>Leonidou, Leonidas C</author><author>Christodoulides, Paul</author><author>Kyrgidou, Lida P</author><author>Palihawadana, Daydanda</author></authors></contributors><titles><title>Internal drivers and performance consequences of small firm green business strategy: The moderating role of external forces</title><secondary-title>Journal of Business Ethics</secondary-title></titles><periodical><full-title>Journal of Business Ethics</full-title></periodical><pages>585-606</pages><volume>140</volume><number>3</number><dates><year>2017</year></dates><isbn>0167-4544</isbn><urls></urls></record></Cite></EndNote>(Leonidou, Christodoulides, Kyrgidou, & Palihawadana, 2017). Organizational resources and capabilities play an important part in bringing about the achievement of a business strategy because they have to be weighed and made use of to create an environment where the businesses will be able thrive according to its means ADDIN EN.CITE <EndNote><Cite><Author>Leonidou</Author><Year>2017</Year><RecNum>62</RecNum><DisplayText>(Leonidou et al., 2017)</DisplayText><record><rec-number>62</rec-number><foreign-keys><key app="EN" db-id="axpfs2xwpvexwle0z05x2proe2rparfrx9pd" timestamp="1531246647">62</key></foreign-keys><ref-type name="Journal Article">17</ref-type><contributors><authors><author>Leonidou, Leonidas C</author><author>Christodoulides, Paul</author><author>Kyrgidou, Lida P</author><author>Palihawadana, Daydanda</author></authors></contributors><titles><title>Internal drivers and performance consequences of small firm green business strategy: The moderating role of external forces</title><secondary-title>Journal of Business Ethics</secondary-title></titles><periodical><full-title>Journal of Business Ethics</full-title></periodical><pages>585-606</pages><volume>140</volume><number>3</number><dates><year>2017</year></dates><isbn>0167-4544</isbn><urls></urls></record></Cite></EndNote>(Leonidou et al., 2017). The rapid changes that are taking place in the business environment of the contemporary world have led to a situation where it is necessary for small firms to adopt strategies aimed at making them more effective players within such an environment. Small businesses are the most dominant forms of business in the contemporary world and this is to such an extent that they require a strategy in order to achieve their objectives ADDIN EN.CITE <EndNote><Cite><Author>Burns</Author><Year>2016</Year><RecNum>63</RecNum><DisplayText>(Burns, 2016)</DisplayText><record><rec-number>63</rec-number><foreign-keys><key app="EN" db-id="axpfs2xwpvexwle0z05x2proe2rparfrx9pd" timestamp="1531246656">63</key></foreign-keys><ref-type name="Book">6</ref-type><contributors><authors><author>Burns, Paul</author></authors></contributors><titles><title>Entrepreneurship and small business</title></titles><dates><year>2016</year></dates><publisher>Palgrave Macmillan Limited</publisher><isbn>1137430346</isbn><urls></urls></record></Cite></EndNote>(Burns, 2016). This is a factor that needs to be considered when studying the strategies of small businesses because they are not only the dominant forms of business, but are for the most part family owned. The result is that they have to compete against larger firms with far greater resources ADDIN EN.CITE <EndNote><Cite><Author>Burns</Author><Year>2016</Year><RecNum>63</RecNum><DisplayText>(Burns, 2016; Chrisman, Chua, De Massis, Minola, &amp; Vismara, 2016)</DisplayText><record><rec-number>63</rec-number><foreign-keys><key app="EN" db-id="axpfs2xwpvexwle0z05x2proe2rparfrx9pd" timestamp="1531246656">63</key></foreign-keys><ref-type name="Book">6</ref-type><contributors><authors><author>Burns, Paul</author></authors></contributors><titles><title>Entrepreneurship and small business</title></titles><dates><year>2016</year></dates><publisher>Palgrave Macmillan Limited</publisher><isbn>1137430346</isbn><urls></urls></record></Cite><Cite><Author>Chrisman</Author><Year>2016</Year><RecNum>69</RecNum><record><rec-number>69</rec-number><foreign-keys><key app="EN" db-id="axpfs2xwpvexwle0z05x2proe2rparfrx9pd" timestamp="1531288112">69</key></foreign-keys><ref-type name="Journal Article">17&...