Strategies for superior performance under adverse conditions: A focus on small and medium-sized high-growth firms
研究了中小企业在衰退市场中通过创新差异化、产品定制、高利润产品选择和成本控制等多策略组合实现持续增长，证明逆境不必然抑制企业成长。
This article explores the strategies pursued by small and medium-sized firms to actively sustain growth within declining markets. A critical analysis of relevant growth theories informs the development of a semi-structured interview schedule; findings drawn from 20 case studies indicate that firms adopt a multiple-strategy approach in which they simultaneously pursue an innovative differentiation and product or service-customisation strategy. Following this strategy, it was found that firms make an intentional search for high-margin products, avoid aggressive price competition and maintain tight control of costs. The article demonstrates that an adverse environment does not necessarily inhibit firm growth and that individual firm-specific strategies can be invoked to overcome volatile market conditions.