SME management

Despite the important role that small and medium-sized enterprises (SMEs) play in the economy, there are few books that provide guidance to entrepreneurs who are constantly short on resources. This handbook attempts to answer the question: What path can an SME take to one day become a large company?

To this end, this textbook revisits some of the key theories in organizational management, but from the perspective of small and medium-sized enterprises (SMEs): legitimacy, impression management, rational choice, resource dependence, agency theory, and institutional theory. The first part familiarizes readers with the basic concepts commonly used in the literature on large corporations. In addition to characterizing the entrepreneurs who run SMEs, this part bridges the gap between what is typically found in management textbooks and what is presented in this handbook. Next, through the primary functions (sales/customer service, production/logistics, and marketing), the book explains how each of these theories influences SMEs on a day-to-day basis and can impact their growth. The final section focuses specifically on support functions (administration/finance, human resources management, and information technology) and the theories presented in this book.

Filled with inspiring examples from successful small and medium-sized businesses, this book is intended for both students and entrepreneurs who want to compete with large corporations. Ultimately, it is a guide that will help students understand how SMEs operate and help entrepreneurs identify specific actions to take in various areas of their business to foster growth.