Date of Conferral

10-28-2024

Degree

Doctor of Business Administration (D.B.A.)

School

Management

Advisor

Dr. John Hannon

Abstract

Small businesses are vital to the U.S. economy, yet only half of small businesses survive beyond their first years. Haircare small business owners are particularly concerned about their limited knowledge of strategies essential for organization sustainability, as this lack .of strategic planning can significantly increase the risk of business failure. Grounded in resource based theory, the purpose of this qualitative multiple case study was an exploration of the strategies small haircare business owners use to sustain operations for 5 years or longer. The participant's population included five owners of small haircare businesses in Maryland who have been in operation for at least 5 years. Data were collected from semistructured interviews and a review of publicly available documents. Using thematic analysis, three major themes appeared: (a) financial capital, (b) marketing strategy, and (c) human resource capital. A key recommendation from this study is that business owners should personalize attention on an individualized basis to each customer to further sustainability and must be incorporated into the firm's marketing strategy. The implications of this study for positive change include the potential opportunity to increase the number of small haircare businesses surviving for longer than 5 years, an increase in the number of employed citizens in the local community, and a drop in the number of unemployed citizens, and an increase in the community workforce increases taxable income used to improve the lives of all citizens.

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