A Case Study Review of the Strategy Formulation and Implementation Link among SMES in Zimbabwe

Abstract

The importance of SMEs development in the economic activities in Zimbabwe cannot be overemphasized. It has been acknowledged that strategy formulation and implementation are important to both the survival and growth of SMEs, and their continued contribution to economic growth. Despite this realisation, SMEs performance has continued to be marginal, hence the need to review the strategy formulation and implementation linkage. There is evidence that SMEs undertake strategic planning but what happens there after is not very clear. The findings indicate that there are neither forward nor backward linkages between strategy formulation and implementation, nor that each activity is treated as an end in itself rather than as part of a process. SMEs do not benefit from accumulated knowledge and experience.

Key words: Strategy, formulation, implementation, linkages, performance, SMEs, strategic management, owner/manager, Zimbabwe