Developing a mission statement has been considered a crucial factor in the formulation of business strategy in organisations. The mission statement promotes a sense of shared expectations in employees and, not surprisingly, it has recently been regarded as increasingly important in small‐ and...

Environmental scanning is a key factor to sustained competitive advantage of the firm and it is becoming increasingly important in small and medium enterprises (SMEs) theory and practice. Not surprisingly, it is widely viewed as the first step in the process of strategic management. The main...

Purpose – This research sets out to examine the role of chief executive officers (CEOs) in the development of the business strategy in small and medium‐sized enterprises (SMEs). Design/methodology/approach – The study explores the hypotheses that there is a relationship between: CEOs' age,...