A Proposed Framework for the Strategic Management of Small Entrepreneurial Firms

Strategic management has been the subject of a substantial literature since the 1950s but has principally focused on the large corporation. By contrast the literature relating to strategic management within the small firms sector has remained limited. Much of the existing literature has dealt with business planning rather than strategic management, or the process of strategy within the smaller firm. This paper outlines a proposed framework for understanding the strategic management of small entrepreneurial firms and draws upon the literature to illustrate aspects of the proposed model. Future directions for research using the framework are discussed.