Date of Conferral
2020
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
Dr. Mohamad S. Hammoud
Abstract
Small business owners have major issues in sustaining their businesses. Small business owners who do not use successful strategies to sustain their businesses are destined to fail. Grounded by the systems theory, the purpose of this qualitative multiple case study was to explore effective strategies for sustaining small retail businesses beyond 5 years. The participants comprised 6 small business owners who successfully sustained their business beyond 5 years in Memphis, Tennessee. Data were collected using semistructured interviews and reviewing company documents and analyzed using Yin's 5-step process. The 4 themes that emerged from this study were: be adaptive to external stakeholder participation, marketing strategy, appropriate financial management strategy, and provide leadership skills training. A key recommendation for small retail business owners is to create a win-win strategy with suppliers by setting common business goals, ensuring successful communication, and setting the tone because first impressions matter. The implications for positive social change include the potential to increase local employment income and local and federal tax revenue through the retail business success and growth.
Recommended Citation
Harris, Eddie Dean, "Effective Strategies for Sustaining Small Retail Businesses" (2020). Walden Dissertations and Doctoral Studies. 9744.
https://scholarworks.waldenu.edu/dissertations/9744
