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BUSINESS STRATEGIES AND PERFORMANCE DURING …

BUSINESS STRATEGIES AND PERFORMANCE DURING DIFFICULT ECONOMIC CONDITIONS For the Department of BUSINESS innovation and Skills (BIS) John Kitching Robert Blackburn David Smallbone Small BUSINESS Research Centre, Kingston University Sarah Dixon School of Management, Bath University June 2009 URN 09/1031. i Contents EXECUTIVE SUMMARY .. i 1. INTRODUCTION, RESEARCH OBJECTIVES AND METHODS .. 1. 2. RESEARCH CONTEXT .. 4. Defining Difficult Economic Conditions .. 4. The Current Crisis .. 6. 3. ANALYTICAL FRAMEWORK .. 10. 4. THE BUSINESS STRATEGY AND MANAGEMENT LITERATURE .. 13. BUSINESS Strategy: General Considerations .. 14. Strategic Adaptation to Environmental Jolts, Turbulence and Radical Institutional Change 15.

i BUSINESS STRATEGIES AND PERFORMANCE DURING DIFFICULT ECONOMIC CONDITIONS For the Department of Business Innovation and Skills (BIS)

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