Key features in the success of SMEs: a comparison of service and manufacturing

The paper reports on part of the findings from a Chartered Institute of Management Accountants (CIMA) research project that looked to analyse the strategic, design and accounting processes in medium-sized enterprises. A mail survey questionnaire was used to gather information on new product development drivers and strategic factors. The findings reported in this paper cover the factors responsible for current performance, the growth strategies concentrated on in the past, the key strategic product and market activities and the drivers of new product and service development. It concludes with a synopsis of the findings and a discussion on the implications for managers.