TY - JOUR
T1 - Life Cycle Characteristics of Small Professional Service Firms
AU - Masurel, E.
AU - van Montfort, C.A.G.M.
PY - 2006
Y1 - 2006
N2 - 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.
AB - 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.
U2 - 10.1111/j.1540-627X.2006.00182.x
DO - 10.1111/j.1540-627X.2006.00182.x
M3 - Article
SN - 0047-2778
VL - 44
SP - 461
EP - 473
JO - Journal of Small Business Management
JF - Journal of Small Business Management
IS - 3
ER -