ABSTRACT
The previous two chapters of this text have reviewed the theoretical and empirical literatures concerned with the possible relationships between the creation, internal organization and ownership of the firm and its environment, strategic choices and performance. Special emphasis has been given to the distinctive features of, and the empirical findings relating to, the small-firm sector. The purpose of these reviews has been to provide a framework within which to examine the managerial characteristics most closely associated with successful fast-growth smaller enterprises. As we have seen, any attempt to isolate and measure the impact upon firm performance of the management team’s inputs is beset by considerable conceptual and empirical problems. Not surprisingly, none of the theoretical frameworks examined provides a comprehensive account of the factors, relationships and processes associated with the successful creation and management of high-growth smaller firms. Although there are a number of common themes running through the various theoretical models, there seems to be little agreement regarding the relative importance or directional influence of different factors.
