Business leadership strategies under tenuous economic conditions

Abstract

Small and medium-sized enterprises (SMEs) in Lebanon are at risk of failure because of the geo-economic crisis. The purpose of this multiple case study was to explore strategies successful leaders of SMEs use to sustain their businesses during tenuous economic conditions. The target population for the research comprised six business leaders of SMEs in Beirut, Lebanon. Data were gathered from company documents and interviews and analysed using Yin's data analysis method. Four themes emerged: Leaders of SMEs embedded change management in their organisations, increased awareness in their organisations, created solid organisational and financial structures, and created and targeted niche markets.