A study on the impact of competitive strategy of small firm during economic downturn

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A study on the impact of competitive strategy of small firm during economic downturn

 

Author: Chan, Ching-wan Alison
Title: A study on the impact of competitive strategy of small firm during economic downturn
Year: 2000
Subject: Small business -- China -- Hong Kong -- Management
Retail trade -- China -- Hong Kong
Strategic planning -- China -- Hong Kong
Financial crises -- China -- Hong Kong,
Hong Kong Polytechnic University -- Dissertations
Department: Multi-disciplinary Studies
Dept. of Management
Pages: viii, 100 leaves : ill. ; 31 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1505758
URI: http://theses.lib.polyu.edu.hk/handle/200/4685
Abstract: Retail industry is one of the most hit industries in Hong Kong after the Asian economic crisis. The adverse effects of this crisis in the region fully reflected in the drastic drop in retail sales. Every retailer, especially the small one, has to struggle even harder for it's survival during the economic downturn. In this study, the effects of each individual strategy on three business performance indicators are studied and small firms in two selected retail industries are investigated. A simple and easy to understand typology, M. Porter's typology, is used in the study. The result confirmed that this typology is applicable to small business study and the differential business performance indicator is Return on Investment. The study revealed that under the unfavorable economic condition, small firms can still be profitable. Focus is found to be the best performing strategy in term of profitability in the selected declining industry. However, for the selected growing industry, the effects of different strategies on business performance are indistinguishable. Therefore, the effect of strategy on business performance is crucial in declining retail industry, while the effect of strategy on business performance in growing retail industry is of less importance. These findings confirmed that the economic condition the industry is experiencing has a moderating effect on the relationship between strategy and business performance. At the same time, they suggested that the effects of M. Porter's generic strategies can be more influential if the industry is full of competition.

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