Levels of strategy and performance in UK small retail businesses

Phil Megicks

31 citations0/0 files storedManagement Decision

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Consumer Retail Behavior Studies Business Strategies and Innovation Management and Organizational Practices

Abstract

Purpose This study aims to investigate the way in which small retailer performance is influenced by strategy at different levels. It also aims to propose that business level strategy is more important to success than functional level strategy in small retail firms, as this is what enables them to distinguish their business from competitors and effectively set about competing in their markets. Design/methodology/approach Data were collected from a mail survey of 305 independent retailers in the UK. Multivariate statistical methods were used to develop appropriate variables and explore the relationships between level of strategy and performance. Findings The results indicate that business level strategy variables have a significant influence on performance whereas functional levels do not when their combined effects are analysed using hierarchical regression modelling. Research limitations/implications The caveats normally associated with survey methods apply, as do those related to the use of cross‐sectional, self‐report, and managerial perceptions data. Implications for retail strategy theory and small retailers' performance are addressed. Practical implications The importance of business level strategy generally and its specific elements are considered with a view to providing guidance to management decision makers and policy advisors. Originality/value Reliable measures for retail strategy variables are developed in the paper. The research distinguishes the performance effects of retail business strategy from retail functional strategy and supports the view that business strategy decisions are superior in their market significance over operational retail mix decisions.

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References

1977Estimating Nonresponse Bias in Mail Surveys 1978Organizational Strategy, Structure, and Process 1986Measurement of Business Performance in Strategy Research: A Comparison of Approaches 1978Strategy formulation : analytical concepts 1992POWER IN TOP MANAGEMENT TEAMS: DIMENSIONS, MEASUREMENT, AND VALIDATION.1986Measurement of Business Performance in Strategy Research: A Comparison of Approaches 1972Strategies for diversification 1979Retail Management: A Strategic Approach

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