Applying strategic management to a family-based small medium enterprise : a case study on Esco Leasing Private Limited.
Quek, Hong Soon.
Peh, Eleana Li Ling.
Tan, Kok Ping.
Date of Issue2009
College of Business (Nanyang Business School)
Esco Leasing Pte Ltd
Research has discovered a lack of strategic planning in small and medium enterprises (SMEs). This case study aims to apply formal strategic planning to an SME to improve its level of performance, in the hope of inspiring more SMEs to follow suit. The sevenphase consulting model pioneered by Kolb & Frohman (1970) was administered. Preliminary data from the directors revealed a proven and exceptional business model which can ride through the current (2009) economic crisis unscathed. The burning problem turned out to be a mosaic of complex human resource issues threatening to hinder the smooth operations of the company. Further data regarding the human resource issues was collected through interviews with individual staff. Interview transcripts were coded and analyzed to derive the fundamental problems. The unique management philosophy of the director meant that typical human resource management cannot be employed to tackle the problems. This posed a major challenge to the team. Creative implementations such as “Metamorphosis”, a system which encourages change and improves staff bonding are implemented. Initial evaluation of the recommendations was promising. However, time constraints meant that certain implementations with long-term horizon cannot be thoroughly evaluated. In conclusion, the excellent track record of the company should serve as a model for other SMEs to employ strategic planning. More importantly, human resource management is a crucial element of strategic planning which should not be overlooked.
DRNTU::Business::Operations management::Family owned business enterprises
Final Year Project (FYP)
Nanyang Technological University