Life Cycle Characteristics of Small Professional Service Firms

E. Masurel, C.A.G.M. van Montfort

    Research output: Contribution to JournalArticleAcademicpeer-review

    Abstract

    Our study of professional services firms clearly revealed that firms change over the course of their life cycles. During the first three stages, diversification in sales, the differentiation in labor force, and the level of labor productivity increase. In the last stage, diversification in sales, the differentiation in labor force, and the level of labor productivity decrease. Development effects can be treated as interdependent. Our findings show that the effects of growth can be predicted to a certain extent. In efforts towards development, these predictions are important to business strategy, as well as to consultation with and education of SME entrepreneurs. © 2006, International Council for Small Business.
    Original languageEnglish
    Pages (from-to)461-473
    JournalJournal of Small Business Management
    Volume44
    Issue number3
    DOIs
    Publication statusPublished - 2006

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