Categorizing the Growth Strategies of Small Firms
Leminen, Seppo; Westerlund, Mika (2012)
Talent First Network (Carleton University)
CC BY 3.0
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Leminen S., Westerlund M., (2012). Categorizing the Growth Strategies of Small Firms. , Talent First Network (Carleton University). URN:NBN:fi:amk-201803213619
This study investigates the link between a small firm’s investment in R&D and its growth strategy. A firm’s growth strategy refers to the means by which the organization plans to achieve its objective to grow in volume and turnover. We categorize firm growth strategies into eight distinctive clusters: opportunity explorers, radical innovators, business developers, business expanders, profit makers, business rebuilders, stagnators, and downsizers. We argue that understanding a firm’s growth orientation provides a way to assess the returns of its R&D investments, because an organization’s intangible growth strategies and tangible inputs are connected.