Please use this identifier to cite or link to this item: https://hdl.handle.net/10321/4659
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dc.contributor.authorBugwandin, Vinayen_US
dc.contributor.authorBayat, Mohamed S.en_US
dc.date.accessioned2023-03-13T08:22:54Z-
dc.date.available2023-03-13T08:22:54Z-
dc.date.issued2022-07-
dc.identifier.citationBugwandin, V. and Bayat, M.S. 2022. A sustainable business strategy framework for small and medium enterprises. Acta Commercii. 22(1). doi:10.4102/ac.v22i1.1021en_US
dc.identifier.issn2413-1903-
dc.identifier.issn1684-1999 (Online)-
dc.identifier.urihttps://hdl.handle.net/10321/4659-
dc.description.abstractOrientation: Business sustainability in today’s world is primarily arduous owing to global economic and financial crises. In the first quarter of 2019, according to Statistics South Africa, the Gross Domestic Product deteriorated by 3.2%. Similarly, in KwaZulu-Natal, the state of sustainability of small and medium enterprises (SMEs) was on the decline and the majority (75%) of SMEs failed after operating for 3 years. Research purpose: To formulate a business strategy to assist SMEs achieve sustainability.Motivation for the study: Small and medium enterprises in KwaZulu-Natal do not sustain themselves for long-term periods, the underlying problem being poor strategy formulation and hence, the need for a strategy to achieve sustainability.Research design, approach and method: A mixed methodology approach was used in this empirical study. A target population of 488 000 SME’s were considered with a sample size of 384 expected respondents. A total of 200 responses ( 52% of the target sample size) were obtained from the questionnaire within a capped period of 30 days. The Social Package for Social Sciences software was used for the quantitative aspect. In particular cross tabulations, central tendencies, and group difference techniques were used to analyse the data. In addition, the grounded theory was employed on a target of 20 individuals who were interviewed to investigate opinions towards strategy development and sustainability in KZN and NVivo software was used for the qualitative aspect.Main findings: The core element of ‘Strategy’ and the sub-elements of ‘Change’, ‘Purpose’ and ‘Leadership’ were investigated. It was found that ‘Change’, ‘Purpose’ and ‘Leadership’ were the main contributors towards achieving sustainability. Furthermore, a systems thinking model was used successfully to indicate the interdependencies to purport the goal of achieving sustainability. Ultimately it was found that ‘Strategy’, ‘Change’, ‘Purpose’ and ‘Leadership’ were required to achieve a ‘sustainable business strategy’.Practical/managerial implications: Due cognisance should be taken by leaders, from the perspectives of ‘Change’, ‘Purpose’ and ‘Leadership’, to formulate a strategy that sustains the business.Contribution/value-add: A conceptual framework to achieve a sustainable business strategy was developed for small to medium enterprises.en_US
dc.format.extent12 pen_US
dc.language.isoenen_US
dc.publisherAOSISen_US
dc.relation.ispartofActa Commercii; Vol. 22, Issue 1en_US
dc.subjectstrategyen_US
dc.subjectBusiness sustainabilityen_US
dc.subjectLeadershipen_US
dc.subjectPurposeen_US
dc.subjectChangeen_US
dc.titleA sustainable business strategy framework for small and medium enterprisesen_US
dc.typeArticleen_US
dc.date.updated2023-03-10T15:54:44Z-
dc.identifier.doi10.4102/ac.v22i1.1021-
local.sdgSDG17-
item.grantfulltextopen-
item.cerifentitytypePublications-
item.openairetypeArticle-
item.languageiso639-1en-
item.fulltextWith Fulltext-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
Appears in Collections:Research Publications (Management Sciences)
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