To what extent are SME decision-makers familiar with the most common strategy methods? Results of a survey among presidents, owners, CEOs and managing directors of industrial SMEs

( Vol-11,Issue-3,May - June 2025 )

Author(s): Jürgen Klausmann, Monika Zatrochova

Total View : 554
Downloads : 10
Page No: 61-69
DOI: 10.22161/ijaems.113.10

Keywords:

Strategy methods, SWOT-Match, Competitive Profile Matrix, Strategic Position & Action Evolution Matrix, Boston Consulting Group Matrix, Internal & External Matrix, Grand Strategy Matrix, Small and Medium Enterprises, SMEs.

Abstract:

The objective of this article is to examine whether decision makers of small and medium enterprises (SMEs) are familiar with the most common strategy methods. To this end, a survey was conducted among decision-makers (presidents, owners, managing directors & CEOs) of SMEs to determine their knowledge of standard strategy methods which were identified for this investigation as SWOT-Match, Competitive Profile Matrix (CPM), Strategic Position & Action Evolution Matrix (SPACE-Matrix), Boston Consulting Group Matrix (BCG-Matrix), Internal & External Matrix (IE-Matrix), and the Grand Strategy Matrix (GSM). The results showed that approx. 50% do not know any strategy method at all and approx. 60% have never used strategy methods in their professional life. This confirms the assumption that SME decision-makers have limited knowledge of strategy methods, strategy development and planning. In addition, the standard methods were evaluated by 2 participants for their suitability, and they gave an assessment of whether formalized strategic planning is helpful for the long-term success of SMEs.

Received: 15 May 2025; Received in revised form: 11 Jun 2025; Accepted: 15 Jun 2025; Available online: 20 Jun 2025

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