Innovative high-technology SMEs have become a major influencing factor in the success of any modern economy and they increasingly compete in the globalised world with limited resources. Previous research on SMEs at firm level has always taken into consideration the constraints of the resources that an SME faces and the implications of this on their performance and business growth. SMEs have to develop their own unique skills and capabilities, allocating their limited resources appropriately to be able to respond to the changes in the external business environment that pose risks to the success of their innovation and its commercialisation. Having an innovation strategy is very important: to have a clear goal and a path to achieve the set goal. This helps high-technology SMEs to decide which factors can influence the success of their innovations, leading to business growth by developing dynamic capabilities to respond to the external changes by allocating their resources at their disposal. This thesis is an empirical analysis of innovation strategy and its role in the business growth of high-technology SMEs. This research study is carried out at firm level. It draws on Resource-Based View and Dynamic Capability theory to explore innovation strategy factors contributing to the better performance of the firm. Four hypotheses were proposed based on the theoretical framework developed through the literature review. They were tested using empirical data. The primary data were collected using quantitative methods through survey questionnaire. Data was collected from 106 high-technology SMEs in the UK. Technological factor, marketing factor, entrepreneurial factor and risk from the business environment were identified as four important factors which are part of an innovation strategy. The results of the study suggest three revised factors: technology, entrepreneurial and government-related risk factors. The initial risk related to business environment was amended to government-related risk factors based on the measurement variables which were loaded to the factor. However, one hypothesis based on the marketing factor failed to support the proposed positive influence on business growth and hence rejected. This calls for further research on the marketing factor in high-technology SMEs. This study recognises the reason behind this paradoxical result, which could be the nature of the high-technology firms participating in this study, which are more dependent on technology-push rather than marketing pull and they do not confirm with the established norms of marketing for the business growth of their firm. This study contributes to the development of knowledge and practice at multiple levels. The research developed a theoretical framework to establish the innovation strategy factors and its influence on business growth and this is validated through empirical data. At the practice level, the results of the study could be used by high-technology SMEs in the UK, and any other high-technology SMEs which are based in a similar economy and business environment, to have better information about innovation strategy. The study could also help policy makers, propose better policy to support innovation of high-technology SMEs in UK.

This thesis is about investment of a family business. It is divided into two parts - theoretical and practical. The theoretical part describes aquisitions, investments, financial stability, strategy and growing rate. Practical part analizes small family business and its financial situation considering evaluation of investments based on net present value.

В научной литературе работы, посвященные реализации стратегии роста предприятия не включают в себя с достаточной полнотой практические рекомендации по принятию решения и непосредственной реализации стратегии роста на малом промышленном предприятии, с учетом специфики его деятельности. Поэтому, целью магистерской диссертации являлось создание методического обеспечения реализации стратегии роста малого промышленного предприятия для осуществления сбалансированного развития на основе системы целевых показателей роста, с учетом факторов и рисков. В качестве источников информации использованы данные Росстата и ЕМИСС для оценки состояний малых промышленных предприятий в РФ, а также бухгалтерская и финансовая отчетность предприятия АО «НПФ «ЮВЭНК». В ходе написания магистерской диссертации был разработан алгоритм принятия тактических решений в процессе реализации стратегии роста малого промышленного предприятия базирующийся на разработанной методике оценки рисков и определения затрат на их целесообразное снижение структурами риск-менеджмента, что позволит повысить экономическую устойчивость предприятия. В результате апробации алгоритма и разработанной методики была выявлена экономическая целесообразность увеличения масштабов деятельности ЮВЭНК, определены основные риски в процессе реализации стратегии роста и спрогнозирован бюджет финансирования структур риск-менеджмента. / In the scientific literature, the work on the implementation of the growth strategy of the enterprise does not include sufficient practical recommendations for decision-making and direct implementation of the growth strategy in a small industrial enterprise, taking into account the specifics of its activities. Therefore, the aim of the master thesis was the creation of methodical support of realization of strategy of growth of small industrial enterprises for the implementation of the balanced development on the basis of system of target indicators of growth, including factors and risks. As information sources, data of Rosstat and EMISS to assess the state of small enterprises in Russia, accounting and financial reporting of the company JSC "SPF "UVENK". In the course of writing a master's thesis was developed an algorithm for tactical decision-making in the process of implementing the strategy of growth of small industrial enterprises based on the developed method of risk assessment and determining the cost of their appropriate reduction of risk management structures, which will increase the economic stability of the enterprise. As a result of testing of the algorithm and the developed methodology, the economic feasibility of increasing the scale of the activities of UVENK was revealed, the main risks in the process of implementing the growth strategy were identified and the budget for financing risk management structures was forecasted.