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2020 | OriginalPaper | Chapter

4. Planning and Strategy in the Small Firm

Authors : Tim Mazzarol, Sophie Reboud

Published in: Small Business Management

Publisher: Springer Nature Singapore

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Abstract

Small business owner-managers have been found to have a less sophisticated approach to formal business planning than their counterparts in larger firms. This is generally related to a lower level of systematic data gathering or a low level of statistical analysis. However, owner-managers are strategically aware and realise the consequences of their decisions (Rice, 1983). The lack of formal business planning has been attributed to the high failure rate among small firms particularly among start-ups (Castrogiovanni, 1996).

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Title: Planning and Strategy in the Small Firm
Authors: Tim Mazzarol
Sophie Reboud
Publisher: Springer Nature Singapore
Book: Small Business Management
Print ISBN: 978-981-13-9508-6

Electronic ISBN: 978-981-13-9509-3

Copyright Year: 2020
DOI: https://doi.org/10.1007/978-981-13-9509-3_4