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Best Practices for Small and Medium Scale Enterprise Success: A Study Based on Restaurant Sector in Sri Lanka
Journal of Business and Technology: 30–44 · 2021
https://doi.org/10.4038/jbt.v5i0.51
Abstract
The best practices in the organizations have gained momentum amongst entrepreneurship scholars, but much of the benchmarking literature is about large firms. The purpose of this qualitative multiple case study research aims to explore the best practices of successful SME restaurants in Sri Lanka. The research is based on social reality, which is closely aligned with the critical realism philosophy. The purposive sampling method was used to recruit participants in the study. Twenty-eight interviews were conducted with the owner of the restaurant, manager and two customers from each case. In addition to that, the researcher kept notes of any notable observations. The data were analysed using a thematic approach. The best practices found in this research were categorised into five major themes: leadership, process management, people management, strategies and social responsibility. The findings illustrate by which best practices SME restaurants attempt to incorporate into their overall business strategy. The practical motivators in this effort are exemplified and benchmarked.
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