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1、InternationalJournalofAdvancedandMultidisciplinarySocialScience2016,2(1):11-26DOI:10.5923/j.jamss.20160201.02TheMajorGrowthStrategiesAdoptedbySmallandMediumEnterprisesinKenya:ACaseofKisumuCounty12,*SamuelOdongoAnyanga,MicahOdhiamboNyamita1SchoolofBusiness,DepartmentofBusiness
2、Administration,UniversityofNairobi,Nairobi,Kenya2FinanceandAccounting,SchoolofBusinessandPublicManagement,KCAUniversity,Kisumu,KenyaAbstractSmallandMediumEnterprises(SMEs)formulategrowthstrategiesinordertoattainhighmarketshare,highproductivityandgainmoreprofitandattractmorecu
3、stomers.InKenya,smallbusinessesfailbecauseofadoptingwrongstrategiesthatdonotenhancegrowth.Therefore,thisstudysoughttoinvestigategrowthstrategiesadoptedbySMEsinKenya,focusingonartisansoperatingwithinoneofthebiggestmarketinthecountry-Kibuyemarket.Thestudyemployeddescriptivesurv
4、eyresearchdesignandusedquestionnairestocollectbothqualitativeandquantitativedata.Thestudyaffirmedthetheoryofgrowthstrategiesbyindicatingthroughitsfindingsthatenterprisesmovethroughdistinguishablestagesofgrowthandthateachstagecontainsarelativelycalmperiodofgrowththatendswitham
5、anagementcrisis.ThefindingsofthestudyclearlydemonstrationthatSMEsinKenyahaverealizedrelativegrowthwitheachstageofgrowthcharacterizedwithmyriadmanagementchallenges.Themajorgrowthstrategytheenterprisesadoptedisproductdevelopmentstrategy,buttoamoderateextentthroughidentification
6、ofnewmarketsfortheirnewexistingproducts.Thestudyalsofoundthatmostentrepreneursadoptedproductdevelopmentstrategythattargetedspecificmarketsegments.KeywordsGrowthstrategies,SmallandMediumEnterprises,Marketandproductdevelopment,Innovationandservicepositioning,Diversificationandm
7、arketpenetrationincomecountries(OECD,2014).GrowthofSMEsthus1.Introductioncontributestoemploymentandjobcreation.Further,growthofferstheopportunityforfinancialgain,returnonEconomiesthroughouttheworldarenowadaysturninginvestmentandalsoincreasedchancesforsurvival(Dobbstheirattent
8、iontosmallandmedium-sizeenterprises.Since,andHamilton,2007).Hyland(2
