For Subscribers

Get in Sync

To spark business growth, follow the leader in your industry.

By David Newton •

Opinions expressed by Entrepreneur contributors are their own.

One key to growing your business is coordinating your companystrategy with a wide range of administrative and managerialprocesses. According to a recent study, your success at makingthese elements work well together is directly related to thematurity level of your industry.

In "Fit Among Competitive Strategy, AdministrativeMechanisms and Performance" (Journal of Small BusinessManagement, April 2003), Henrik Barth analyzed 171 growingbusinesses with 200 or fewer employees, comparing revenue growth tothe types of competitive strategies and administrative andmanagerial processes the firms used. The study showed thatcompanies in newer industries typically grow faster than those inmature industries.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve
Learn More Log In

Related Topics

Magazine Entrepreneur Magazine

Editor's Pick

Determined to Support the Black Community, These Friends Brought 'Fresh Eyes' — and Innovation — to the Food Industry
The Complete Guide to Effectively Using AI Writing Tools in Content Marketing
Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
The Basics of Making Money in Franchising

Most Popular

See all

By Ben Angel

Marketing

6 Ways to Wring All the Value from Your Earned Media Coverage

Press coverage can help your brand gain visibility and increase credibility — but not if no one sees it. What can you do to get more value from the media placements you've worked so hard to earn?

By Michelle Garrett

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.

By Entrepreneur Staff

Business Solutions

What Bill Gates and Steve Jobs Taught Me About Getting to Know Your Customers

Despite the push toward chatbots and technology-driven customer service, nothing can replace determining what your customers want through personal social interaction.

By Brent Ritz

Business News

Out With the Kibble and In With the Steak. The World's Richest Dog Has a Net Worth of $400 Million – And a New Netflix Docuseries Too

'Gunther's Millions' is set to unpack the pooch's mysterious fortune and what those around him have done with his inheritance.

By Sam Silverman

Living

Invest in Yourself: 10 Things Every Working Woman Should Do This Year

When striving for success, it is easy to forget about your mental and physical health. But without health, you cannot fully succeed. Follow these ten lifestyle strategies for success in your personal and professional life.

By Kelly Hyman