Business strategies for entrepreneurial small firms.

This paper addresses the issue of the nature of business strategies in entrepreneurial small firms. It examines a number of existing models of strategic planning and suggests that they cannot adequately cope with environmental uncertainty. Developing the idea that effective strategy formation is processual in a stochastic environment, the paper proposes four possible "meta" strategies entrepreneurial firms might use to cope with uncertainty. These stress the notion of 'becoming' as a direction rather than a series of staged events