Success Strategies for New Enterprises

The assignment aims to explore the strategies of establishment and growth that new companies can use for getting success in the market and achieve a sustainable business position. It identifies the successful companies, assesses their business strategies, and comes up with recommendations on the choice of strategies for the success of new enterprises in the modern world.

Topic 2
Project Topic: Identification and exploration of business strategies used for establishment,
development and growth of new enterprises to increase the chances of their success in
business
Problem Statement
Most of the organizations that are started fail within the first five years of their establishment.
There could be several reasons for these failures and to avoid them, it becomes necessary for
the new organizations to understand not just the cause of possible failures but also identify
and use business strategies that can be used for establishment and growth of the company to
reduce their chances of failure and increase their potential for a sustained success (Raddon,
2015).
There are several companies who have used best practices in the area of self-development
and thus, have reached a level of success and thus, lessons can be learned from them and
strategies can be built by the new enterprises to ensure that they also achieve successes in
their respective markets. This research would explore the strategies used by successful
companies to identify practices used in establishment, development and growth of enterprises
(Yazan, 2015).
Aims and Objectives
Aim of this research is to explore the strategies of establishment and growth that new
companies can use for getting success in the market and achieve a sustainable business
position. For this the research would fulfil the following objectives:
 Identify the successful companies and explore their establishment and development
strategies
 Assess the business strategies used by established organizations to understand how
these strategies brought them success
 Come up with the recommendations on the choice of strategies for the success of new
enterprises in the modern world.
Methodology
An appropriate choice of a research methodology would depend on an understanding of the
underlying philosophical foundations. The research philosophies can be used as a base for
constructing a research design. This needs a researcher to understand the field of knowledge
from two perspectives that include an understanding of what is the knowledge that is
explained by ontology and how can it be understood which can be explored using
epistemology (Holden, 2001). Ontology can be explored to understand how the truth is
viewed by a researcher exploring a subject. This exploration would help one identify the right
methods that can be used for data collection and data analysis in a research. A positivist view
would see truth as objective which can be provided with empirical evidences and thus, in
such a case methods like surveys and questionnaire can be used for the testing of an existing

theory on context. Interpretivists on the other side believe in existence of relative realities
formed by combination of perspectives. Thus, they make use of qualitative methods like
grounded theory, case study analysis and narrative inquiries for data collection and analysis
(GRAY, 2016).
Research Design
As the current research has an objective to identify strategies for success that do not work
along specific theoretical guidelines, the phenomenon is actually a construction from multiple
perspectives and situations in which companies operate. Thus, a qualitative inquiry would be
a more appropriate method to use here. Moreover, as the research needs to explore specific
strategies used by specific companies, it would need a business research to be conducted on
specific companies. Thus, to be able to do this, the research would make use of a multiple
case study methodology through which different cases of companies would be explored and
their success strategies would be identified. The research would make use of a cumulative
method of inquiry such that the strategies would be identified in individual case and the
insights would be obtained. These would be combined and analysed critically forming a
combined case which would form the basis for the recommendations that would be made in
the research (Wedawatta, Ingirige, & Amaratunga, 2011).
Data Collection
The data would be collected from the journals, books, websites, and research reports on 5
companies including Dell, Microsoft, HP computers, Apple Computers, and Sony
Corporation. Each of these companies’ data would use to form case studies for which the data
would be collected on the strategies these companies have used for their establishment and
growth over the years of their Working. These companies are chosen for they have been
immensely successful in their fields and are known for strategic excellence.
Data Analysis
The case study data analysis would be used which would need collection of data on each
cases of the companies and the combination of the same which would be critically analysed
to understand if they follow certain theories in practice and what strategies have been
successful for the companies chosen Based on this analysis, recommendations would be
made at the end of the research to get a new organization to the part of success right from the
stage of establishment.
Limitations
The data is collected only about the IT companies and thus, the research findings are limited
only to the IT industry. Another research limitation is that as the research only makes use of
the secondary qualitative data on the subject, the current views of the managers who are
actually working behind the strategies are not being included. Thus, this would leave a gap as
the researcher would only make interpretations from one’s own understanding and would
only be able to explore the documented strategies. Also, as the research makes use of only a
handful of the cases, the results cannot be generalized for a wider set of new companies.
Also, as the establishments selected were started in another era, some of the strategies that
had worked for them in their time may not be most effective in the current modern world for
new companies because of the changed environment and business dynamics today.

Ethical Considerations
As the research makes use of the company information, it is essential that the researcher does
not add his or her subject views and only makes interpretations based on the theories and the
given data failing which the research findings would not be ethically sound. Thus, researcher
would ensure to only make critical interpretations based on the study material and researches
referred and would not depend on the personal opinions for making interpreting.
Bibliography
Raddon, A. (2015). Early Stage Research Training: Epistemology & Ontology in Social
Science Research . Centre for Labour Market Studies .
Holden, M. T. (2001). Choosing the Appropriate Methodology: Understanding Research
Philosophy. Waterford Institute of Technology.
GRAY, D. E. (2016). DOING RESEARCH in the REAL WORLD. Sage Publications.
Wedawatta, Ingirige, & Amaratunga. (2011). Case study as a research strategy:
Investigating extreme weather resilience of construction SMEs in the UK. Salford
University.
Yazan, B. (2015). Three Approaches to Case Study Methods in Education: Yin, Merriam, and
Stake. The Qualitative Report, 134-152.