Exploring Local Competences Salient for Expanding Small Businesses

Abstract

Management competences significant for large and medium‐size companies in the West may not be universally applicable. Describes which qualitative, inductive approaches were used to identify competences important in expanding smaller businesses in a particular locality (Hong Kong). Identifies competences generally salient for growth as: global‐oriented outlook for the business; analytical market approach; readiness to seize relevant opportunities; and systematic financial management. Considers an additional set of competences salient for growing companies with less than 50 employees, namely: vivid vision/purpose/ mission; ability to conceptualize or formulate company strategy; strategic approach to human resource development; and promoting a learning culture. Also identifies several competences relevant to all small businesses in Hong Kong, whether growing or non‐growing.