Educational Strategies Employed by Successful SMEs in KwaZuluNatal

Successful SMEs in KwaZulu-Natal do not all follow formal or ‘classical’ strategic planning methodologies taught by most business schools. While many SMEs collapse within the first year of operation, others become successful in their endeavours to firstly make a living for themselves and secondly to...

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Autor principal:	Gavin A. Chapman
Formato:	article
Lenguaje:	EN
Publicado:	Foxton Books 2019
Materias:	business models; extremely flexible strategic planning; small and medium size enterprises; strategic planning; business success factors. Education L
Acceso en línea:	https://doaj.org/article/fbc26b830911484a8814157e5f0d6e4f
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id	oai:doaj.org-article:fbc26b830911484a8814157e5f0d6e4f
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spelling	oai:doaj.org-article:fbc26b830911484a8814157e5f0d6e4f2021-12-02T19:16:05ZEducational Strategies Employed by Successful SMEs in KwaZuluNatal10.31757/euer.2232517-6323https://doaj.org/article/fbc26b830911484a8814157e5f0d6e4f2019-06-01T00:00:00Zhttp://www.eu-er.com//wp-content/uploads/2019/05/EUERV2-2-7_CHAPMAN.pdfhttps://doaj.org/toc/2517-6323Successful SMEs in KwaZulu-Natal do not all follow formal or ‘classical’ strategic planning methodologies taught by most business schools. While many SMEs collapse within the first year of operation, others become successful in their endeavours to firstly make a living for themselves and secondly to employ others in order to improve and uplift the economy of South Africa. In this qualitative study, four business models were selected which are taught at most business schools. All SMEs engaged in this study acknowledged the value of using business models to support strategic planning. The medium size enterprises did prepare formal strategic plans and monitored all their activities on a regular basis. Small size SMEs use a mixture of business ‘creativity’ to accommodate uncertain economic conditions and make quick decisions and have been able to succeed even during poor economic times. A new concept called ‘extremely flexibile’ strategic planning was introduced to enable small size SMEs to consider an alternate method of making strategic plans in a less-structured manner.Gavin A. Chapman Foxton Booksarticlebusiness models; extremely flexible strategic planning; small and medium size enterprises; strategic planning; business success factors.EducationLENThe European Educational Researcher, Vol 2, Iss 2, Pp 111-126 (2019)
institution	DOAJ
collection	DOAJ
language	EN
topic	business models; extremely flexible strategic planning; small and medium size enterprises; strategic planning; business success factors. Education L
spellingShingle	business models; extremely flexible strategic planning; small and medium size enterprises; strategic planning; business success factors. Education L Gavin A. Chapman Educational Strategies Employed by Successful SMEs in KwaZuluNatal
description	Successful SMEs in KwaZulu-Natal do not all follow formal or ‘classical’ strategic planning methodologies taught by most business schools. While many SMEs collapse within the first year of operation, others become successful in their endeavours to firstly make a living for themselves and secondly to employ others in order to improve and uplift the economy of South Africa. In this qualitative study, four business models were selected which are taught at most business schools. All SMEs engaged in this study acknowledged the value of using business models to support strategic planning. The medium size enterprises did prepare formal strategic plans and monitored all their activities on a regular basis. Small size SMEs use a mixture of business ‘creativity’ to accommodate uncertain economic conditions and make quick decisions and have been able to succeed even during poor economic times. A new concept called ‘extremely flexibile’ strategic planning was introduced to enable small size SMEs to consider an alternate method of making strategic plans in a less-structured manner.
format	article
author	Gavin A. Chapman
author_facet	Gavin A. Chapman
author_sort	Gavin A. Chapman
title	Educational Strategies Employed by Successful SMEs in KwaZuluNatal
title_short	Educational Strategies Employed by Successful SMEs in KwaZuluNatal
title_full	Educational Strategies Employed by Successful SMEs in KwaZuluNatal
title_fullStr	Educational Strategies Employed by Successful SMEs in KwaZuluNatal
title_full_unstemmed	Educational Strategies Employed by Successful SMEs in KwaZuluNatal
title_sort	educational strategies employed by successful smes in kwazulunatal
publisher	Foxton Books
publishDate	2019
url	https://doaj.org/article/fbc26b830911484a8814157e5f0d6e4f
work_keys_str_mv	AT gavinachapman educationalstrategiesemployedbysuccessfulsmesinkwazulunatal
_version_	1718377009289101312

Educational Strategies Employed by Successful SMEs in KwaZuluNatal

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