Abstract:
The purpose of this paper is to carryout few general strategies into consideration which can be utilized by business owners for success of their businesses. Every entrepreneur has different thinking and ideas. Strategies are developed with market familiarity and practices which make businesses sound in the market. Moreover, strategies of an entrepreneur seem to be helpful tool in business success and economic growth. The strategies discussed in this paper are helpful for SMEs (Small and Medium Enterprises) in their economic development. General strategies considered in this paper are product, market and process innovation, benchmarking and quality of products. In addition, this research is based on primary data which was collected from different SME’s in Sindh, Pakistan through questionnaires. Moreover, data was statistically analyzed. Results indicate that entrepreneurs of SMEs consider quality of product, bench marking and market innovations as more significant whereas; product and process innovations as less significant. The findings of this paper support the previous relevant studies, which also help in identifying new approaches to success of businesses by applying strategies as discussed in this research.
Page(s):
469-476
DOI:
DOI not available
Published:
Journal: Mehran University Research Journal of Engineering and Technology, Volume: 30, Issue: 3, Year: 2011