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Strategic management as a field of study tipically deals with large and established
business and their relationship with their market environment and operation context. However,
knowing where the business is going, together with the opportunities and routes avalilable to get
it there, is as important to a small enterprise as to a large one. Despite the importance and
growing recognition of small firms and entrepreneurial ventures and their contribution to
economic vitality, employment generation, innovation and business development, the value and
importance of strategic managament and thinking to the small firm comunity have only been
recognised and acknowledged comparatively recently.
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