Owners of small retail businesses who fail to implement adequate managerial strategies experience reduced profits and sustainability challenges. Small businesses account for 85.3% of the market, and 66% of small businesses fail within the first 5 years due to low sales and personnel issues. The purpose of this multiple case study was to explore the managerial strategies that owners of successful small retail businesses implemented to sustain their operations for longer than the first 5 years. The population for the study included owners of 3 small retail businesses in the southeastern region of the United States, who successfully implemented managerial strategies and remained in business for longer than 5 years. Data were collected from semistructured interviews with the owners and from a review of the company websites and social media pages. Systems theory and the general systems theory was the conceptual framework for the study. Data were analyzed in accordance with Yin's 5-phase data analysis process consisting of pattern matching, explanation building, time-series analysis, program logic models, and cross-case synthesis. Three themes emerged from the data analysis: updating the business model, addressing customer feedback, and enhancing business efficiency. The findings of this study could contribute to positive social change by providing insights for owners of small retail businesses regarding strategy execution for managerial approaches that increase business productivity, which may lead to the improved economic wellbeing of some employees as well as positive contributions to the communities' retail businesses serve.
| Identifer | oai:union.ndltd.org:waldenu.edu/oai:scholarworks.waldenu.edu:dissertations-7299 |
| Date | 01 January 2018 |
| Creators | Ford, Tanesha Lynett |
| Publisher | ScholarWorks |
| Source Sets | Walden University |
| Language | English |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | Walden Dissertations and Doctoral Studies |
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