The CEOs' characteristics and their strategy development in the UK SME sector

Purpose – This research sets out to examine the role of chief executive officers (CEOs) in the development of the business strategy in small and medium‐sized enterprises (SMEs).Design/methodology/approach – The study explores the hypotheses that there is a relationship between: CEOs' age, work experiences, educational background and strategy formulation; and the impact of the strategic awareness on their part upon firm performance, using UK Standard Industrial Classification. The sample consisted of 508 SMEs in the electronics industry using “self‐reported rating” survey questionnaire and interviews which resulted in 132 completed responses and 12 in‐depth interviews.Findings – Correlation analysis of data showed that: there was no significant correlation between the age of the CEO's and their performance; professionally experienced CEOs placed more emphasis on formal strategy development; CEOs with an educational background are inclined to develop formal strategic plans. Strategic awareness of the CEOs p...

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