Strategic Management Tools and Techniques in Smes

Abstract

This paper examines the use and satisfaction with strategic management tools and techniques in SMEs. On the basis of pertinent literature, there clearly is a lack of knowledge on the applicability of such tools in SMEs. Empirical data were collected from 143 SMEs in Finland, operating in manufacturing and service sectors. The findings show that the use and satisfaction with strategic management tools is largely different in SMEs than in large companies. Moreover, there are significant differences between manufacturing and service SMEs. The results provide valuable information on the applicability of strategic management tools and their performance in SMEs.

Keywords: strategic management, management tools and techniques, small and medium enterprises