Key lessons learned from a study of nearly 1,000 small firms.
A study of 200 resilient small businesses has surfaced a path all firms can take to increase their likelihood of success despite intense competitive and economic pressures. According to insights gleaned through a comprehensive study conducted by The Blue Chip Enterprise Initiative, the route to small business success lies in a company's ability to blend three prevalent resource management approaches: human resource management, marketing management and quality management.
Of the companies studied, 86 percent reported that they focused on human resource management (external vendor relationships as well as internal staff management), 75 percent cited marketing and 56 percent cited quality management as solutions to meet a variety of challenges.