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The purpose of this paper is to shed more light on the value of qualitative research methods as a heuristic research tool that could provide a better understanding of the small- and medium-sized enterprises (SMEs) and the basic/key role played by the owner/manager/entrepreneur in the competitiveness and performance of the SME. It provides a literature review about the use, types, advantages and disadvantages and rigour achieved from case study research. It presents guidelines of how to generate theories from practice and embark on in-depth qualitative research while it highlights possible difficulties and drawbacks that may be encountered. Some thoughts are finally brought forth relating to the application of qualitative research in these management disciplines, in order to get business/management research out of its current profound state of unconsciousness.
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