• Postgraduate study:
• Courses
• Apply now
• Fees and funding
• Accommodation
• Open Events
• Work placement
• Study resources
• Student support
• Research
• Campuses
• Choose Kingston
• Disability and mental health support

• Postgraduate study:
• Courses
• Apply now
• Fees and funding
• Accommodation
• Open Events
• Work placement
• Study resources
• Student support
• Research
• Campuses
• Choose Kingston
• Disability and mental health support

Development and Growth of SMEs

• Module code: BS7564
• Year: 2018/9
• Level: 7
• Credits: 15
• Pre-requisites: None
• Co-requisites: None

Summary

The potential for growth is a defining feature of the entrepreneurial small and medium enterprises (SMEs). This module is concerned with the issues and decisions that the entrepreneur must consider in successfully managing the growth and development of new SMEs. The module is designed to cover four broad and interrelated issues: a) the process of business growth of SMEs, b) barriers to business growth of SMEs; c) internal strategies for the growth of SMEs, and d) external strategies for the growth of SMEs. The course will draw on materials from the literature on entrepreneurship to provide a basis for a critical understanding of the concepts and strategies for entrepreneurial venture growth and development.

Aims

The aim of this module is to give students:

• A critical understanding of the role of founder in the growth process of entrepreneurial SMEs
• An in-depth understanding of the barriers to the growth of entrepreneurial SMEs
• A critical understanding of internal strategies for the growth of entrepreneurial SMEs
• A critical understanding of external strategies for the growth of entrepreneurial SMEs

Learning outcomes

On successful completion of the module, students will be able to:

• Demonstrate critical thinking, analysis and understanding of the growth process of entrepreneurial SMEs and role of founder in the process
• Critically reflect on the impact that internal and external (environmental) barriers can have on the growth of entrepreneurial SMEs
• Demonstrate an understanding of a variety of internal and external growth strategies that can be used to overcome some of the barriers to growth of entrepreneurial SMEs.
• Understand key contexts within which specific internal and external growth strategies are used for the growth of entrepreneurial SMEs
• Acquire practical and transferable skills through the analysis of real life case studies/videos of businesses that can help entrepreneurs learn how to grow their new ventures.

Curriculum content

Definitional and Conceptual Issues

• Definitions of entrepreneurial founders and SMEs
• Definitions of growth and measurement
• Growth models and processes

Managing New Venture Growth

• The changing role of the entrepreneur as new venture grows
• Managing internal transition

Internal and External Strategies for the Growth of SMEs

• Internal Strategies for Growth (eg. From the perspective of SMEs, the use of market penetration, New market development, New product development and Diversification and their relation with firm growth)
• External Strategies for Growth (eg. From the perspective of SMEs, the use of networks, licensing, franchising etc. and their relation with firm growth)

Internal & External Barriers to the Growth of SMEs

• Internal barriers to growth (eg. From the perspective of SMEs, the negative effect of poor value propositions, inadequate internal finance, poor team, lack of innovation etc. on firm growth)
• External barriers to growth (eg. From the perspective of SMEs, the negative effect of poor customer satisfaction, lack of networks, change in government regulations, poor economic conditions etc. on firm growth)

Teaching and learning strategy

• The lectures will be developed around the key concepts of SME growth as mentioned in the indicative curriculum content and will focus on a range of theories with practical applications, related to SME growth
• The Case studies will concentrate particularly on linking the specific theoretical approaches with their application through the analysis of real life case studies of business problems that are likely to arise related to SME growth. Students will be expected to critically analyse the case studies on SME growth and come up with solutions/answers related to the issues being explored.
• The videos will also be used to give students a critical understanding of real life issues related to SME growth. Students will be expected to critically analyse the videos and come up with solutions/answers related to the issues being explored.

Thus, the teaching is based on lectures, case-studies, videos and online course materials, which focus on particular aspects of SME growth as identified above in the curriculum. Case studies and role-plays will be used to stimulate debate, to gain understanding of key issues, and to encourage an in-depth understanding of entrepreneurial growth of SMEs.  

Breakdown of Teaching and Learning Hours

Assessment strategy

Formative:

• Formative assessments will be achieved through in-class critical analysis of various case studies by students on growth processes, strategies and barriers faced by entrepreneurial organisations, with feedback given by the tutor.

Summative

• Students are expected to write a single report that critically evaluates an existing organisation's growth and development in terms of the types of internal and external growth strategies and growth barriers faced by the firm.

Students are expected to also reflect on the growth barriers (both internal and external) faced by the organisation. Students should be able to critically reflect on the organisation's context and recommend possible strategies that the organisation can adopt to overcome its growth challenges.

Mapping of Learning Outcomes to Assessment Strategy (Indicative)

Elements of Assessment

Achieving a pass

It IS a requirement that the element of assessment is passed in order to achieve an overall pass for the module.

Bibliography core texts

Burns, P. (2010), Entrepreneurship and Small Business, 2^nd Ed. Basingstoke: Palgrave

Bibliography recommended reading

Kuratko, D.F. and Welsch, H.P. (2003) Strategic Entrepreneurial Growth, 2nd Revised edition, South-Western

Stokes, D., Wilson, N. (latest edition) Small Business Management & Entrepreneurship (6th ed.). Cengage, Hampshire.

Bessant, J. and Tidd, J. (latest edition) Innovation and Entrepreneurship, John Wiley & Sons, Chichester.

Birley, S. and Muzyka, D.F. (eds.) (2000), Mastering Entrepreneurship, London, FT/Prentice Hall.

Zimmerer, T.W. and Scarborough, N.M. (2005), Essentials of Entrepreneurship and Small Business Management, 4^th Edition, Upper Saddle River, NJ, Pearson/Prentice Hall.

Baghai, M, Coley, S. and White, D. (1999), The Alchemy of Growth, London and New York, Texere.

Cornwall, J.R., Vang, D.O. and Hartman, J.M. (2004), Entrepreneurial Financial Management: An Applied Approach, Upper Saddle River, NJ, Pearson/Prentice Hall.

Kuratko, D.F. (2009), Entrepreneurship: Theory, Process and Practice, Cengage, Learning; 8 Edition

Journals

Entrepreneurship: Theory and Practice;

International Small Business Journal;

Journal of Business Venturing;

Strategic Management Journal;

Small Business Economics