The difference of strategy formulation in small and large firms
Author | : Diana Ruthenberg |
Publisher | : GRIN Verlag |
Total Pages | : 11 |
Release | : 2009-09-14 |
ISBN-10 | : 9783640426768 |
ISBN-13 | : 3640426762 |
Rating | : 4/5 (762 Downloads) |
Download or read book The difference of strategy formulation in small and large firms written by Diana Ruthenberg and published by GRIN Verlag. This book was released on 2009-09-14 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2004 in the subject Business economics - Business Management, Corporate Governance, grade: 1,9, University of Plymouth, course: Bachelor Abschlussjahr, language: English, abstract: This report aims at explaining the differences between the strategy formulation of small and large firms, by examining major factors directly influencing the management and the strategy formulation within a firm. This analysis indicates that strategy formulation in large firms is a very formal process handled by top executives especially dedicated to this process. Small firms in contrast often suffer from a lack of resources and managerial skills. As a result, in small companies, the importance of strategy is often underestimated and not worked out with sufficient accuracy. This leads to a company’s performance often remaining under its market opportunities.