Using Tools From Strategic Management To Help Micro-Entrepreneurs In Developing Countries Adapt To A Dynamic And Changing Business Environment

Abstract

Micro-entrepreneur industriousness is a significant reason for the unprecedented economic activity in the developing world over the last 20 years. Yet as the business environment in developing countries modernizes, micro-enterprises are increasingly threatened. This paper takes a strategic management perspective and argues that micro-entrepreneurs need to do four things to better cope with this changing landscape. To better understand their new complex and turbulent environment they need to 1) perform an external environment analysis, 2) perform an internal environmental analysis, 3) plan, and 4) network.