Mukopfa, C (2021) Strategies to sustain small construction businesses beyond the first 5 years of operation. DBA thesis, Walden University, USA.
Abstract
Small business owners employ over half the U.S. labor force, yet only 50% of small businesses survive beyond 5 years. When small business owners understand the factors that lead to their business failure, they can develop strategies to remain sustainable and profitable within the first 5 years, thus reducing the potential of business failure. Grounded in the resource-based theory, the purpose of this qualitative multiple case study was to explore strategies five small construction owners in central Georgia used to remain in business beyond 5 years. Data were collected from semi structured interviews, a review of organization income statements and balance sheets, and field notes. Three themes emerged from thematic analysis: strategic management, application of business strategies, and strategic business processes. A key recommendation is that leaders of small construction companies combine strategic management techniques such as networking, financial management, and leadership styles to create a platform to catalyze organizational productivity and customer satisfaction. The implications for positive social change include the potential for owners of small construction businesses to create jobs, support the economic development of regional communities, and foster positive community relations.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Dwyer Gwendolyn, R D |
| Uncontrolled Keywords: | economic development; failure; resource based theory; income; small business; business failure; financial management; leadership; strategic management; Georgia; productivity; thematic analysis; case study; owner; interview |
| Index terms: | community relations, thematic analysis, strategic management, small business, leadership style, resource-based theory, construction company, business strategy, networking, strategy, labour force, interview, economic development, business failure, Georgia, customer satisfaction, income, productivity, owner, platform, case study, financial management |
| Subjects: | sociology, community engagement, economics, management, service delivery, methods and analysis, communication, business, data collection methods, leadership, economic development, digital design, Geography, economic analysis, organization |
| Topics: | Supply Chain Management, Geographical Context, Sustainability, Digital Applications, Organizational Design, Business Strategy, Research Practice, Stakeholder Management |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here