To what extent are SME decision-makers familiar with the most common strategy methods? Results of a survey among presidents, owners, CEOs and managing directors of industrial SMEs
Year: 2025
Type: article
Study design: Observational Study
Abstract: The objective of this article is to examine whether decision makers of small and medium enterprises (SMEs) are familiar with the most common strategy methods. To this end, a survey was conducted among decision-makers (presidents, owners, managing directors & CEOs) of SMEs to determine their knowledge of standard strategy methods which were identified for this investigation as SWOT-Match, Competitive Profile Matrix (CPM), Strategic Position & Action Evolution Matrix (SPACE-Matrix), Boston Consulting Group Matrix (BCG-Matrix), Internal & External Matrix (IE-Matrix), and the Grand Strategy Matrix (GSM). The results showed that approx. 50% do not know any strategy method at all and approx. 60% have never used strategy methods in their professional life. This confirms the assumption that SME decision-makers have limited knowledge of strategy methods, strategy development and planning. In addition, the standard methods were evaluated by 2 participants for their suitability, and they gave an assessment of whether formalized strategic planning is helpful for the long-term success of SMEs.
Authors: Jürgen Klausmann, Monika Zatrochova
Institution: Comenius University Bratislava
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4411467986