Date of Conferral
12-17-2024
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
Matthew Knight
Abstract
Up to 80% of small- and medium-sized enterprises (SMEs) fail within the first 5 years due to factors like financial mismanagement, market challenges, and insufficient long-term planning. To prevent these failures, organizational leaders must adopt effective sustainability strategies, as SME closures lead to job losses, economic instability, and lost innovation opportunities. Grounded in the resource-based view and general systems theories, the purpose of this qualitative pragmatic inquiry project was to explore successful strategies that SME leaders in Maryland used to sustain their businesses beyond their initial 5 years. Data were collected from six SME leaders using semistructured interviews and reviews of publicly available documents. Data were analyzed using Braun and Clarke’s thematic coding and analysis. Three themes emerged: strategic planning, marketing and client engagement, and leadership and management practices. A key recommendation is for SME leaders to prioritize adaptive leadership combined with comprehensive financial management. The implications of positive social change include the potential for SMEs implementing effective sustainability strategies to boost employment, increase government revenue, and improve living conditions in local communities.
Recommended Citation
Ming, Bawi, "Small- and Medium-Sized Enterprises Strategies for Sustainability and Profitability Beyond 5 Years" (2024). Walden Dissertations and Doctoral Studies. 17100.
https://scholarworks.waldenu.edu/dissertations/17100
