<p>Small and medium enterprises play an important role in the development of a country. </p><p>The growth of SMEs is also important for the world economy which has been widely </p><p>discussed in recent years. Although the growth of small firm is a well known topic in </p><p>theoretical research, still there are some research gaps that need to be filled. There is </p><p>no single multidimensional theory which would embrace all possible approaches; </p><p>most studies on SMEs’ growth examine the growth factors one by one. (Wasilczuk, </p><p>2000) Nor is there any single theory that can adequately explain small business </p><p>growth due to the heterogeneity of SMEs. Moreover, growth itself is difficult to </p><p>measure, and can be measured either objectively or subjectively. (Delmar, 1996) </p><p>Therefore, this study incorporates the resource-based view, as well as the </p><p>consideration of SMEs’ fives stages model to examine the growth factor of SMEs. </p><p>The resource-based view provides a unified approach in the conceptualization of the </p><p>resource analysis in the small firm. The five stages model shows the position of SMEs </p><p>current growth stage. By analyzing SMEs’ key resources (tangible and intangible </p><p>resources), indentifying their growth stages, SMEs can find out the critical resources </p><p>which influence their business growth. </p><p>As a conclusion, the study finds that each resource has its importance in different </p><p>stages. Tangible resources, such as cash and physical resources are critical in the </p><p>start-up firms, while intangible resources are prioritized in the success and resource </p><p>maturity stages. In order to gain the competitive advantages, SMEs should fully </p><p>develop the unique and inimitable resources such as the brand, technology, culture </p><p>and reputations.</p>
| Identifer | oai:union.ndltd.org:UPSALLA/oai:DiVA.org:hh-2585 |
| Date | January 2009 |
| Creators | Li, Fang Fang Jr, Fu, Kai |
| Publisher | Halmstad University, School of Business and Engineering (SET), Halmstad University, School of Business and Engineering (SET), Högskolan i Halmstad/Sektionen för Ekonomi och Teknik (SET) |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Student thesis, text |
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