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¶ … Strategic human resource development in small businesses, in the United States," explores prior studies, which investigated the frequency and impact of strategic human resource development, and strategic planning in small businesses in America (Fox, 2013, p. 77-115). In order to achieve the objective, the paper utilizes studies from countries, for instance Canada, and the United Kingdom, primarily because the countries share several economic and cultural attributes with the United States (Fox, 2013, p. 79). Following the review, the paper aims, in addition to the fore-mentioned aims, to explore the role of human resource professionals in the strategic business planning (Fox, 2013, p. 99).
Fox's presents a literature review and follows a review of relevant literatures on the subject. The work depends greatly on prior literatures, which explains the online search strategy the author employed. Fox searched for the prior literatures using popular databases including Scopus, Business Source Complete, ABI Inform Complete, Academic Search Premier plus (EBSCO), PsychInfo and Engineering Village (Fox, 2013, p. 78-79). Notably, the author applied a restricted criterion when selecting relevant articles by excluding articles published before the year 1980. The reason behind this is the dynamic nature of business and the growth of human resource development during the year (Fox, 2013, p. 80), but it is important to note the important flaws whereby the author identified only firms that have conducted strategic planning (Kraus, Reiche and Rechske, 2007: Fox, 2013).
Fox (2013, p. 80-83) found out that many prior studies employed the Resource-based Theory, which identifies...
This is because they have skills and competencies that the company can realize a competitive advantage. Moreover, the employees help in understanding the connection between strategic business planning, and human resource development. Owing to the different approaches used by different authors, Fox (2013) found out that the authors lacked a general definition of small businesses (p. 86: p. 111). However, the studies identified age of the business, annual fiscal figures, number of employees, and membership in a small business involvement or chamber of business, as important in defining a small business (p. 86).
Apparently, small businesses contribute to the economic growth of America (Fox, 2013, p. 91). The business offer employment to American citizens, pay taxes that contribute to the nation's budget, and continue to generate new jobs (p. 91). Although this is the case, the review reveals that many small businesses fail because of lack of planning (p. 92). This is because the practice is important and has the capacity to influence the sales, and overall profits of the small businesses (Kraus, Reiche and Rechske, 2007, p. 95). In addition, planning contributes to increased sales, revenue growth, return on sales, investments and assets (p. 95).
On the other hand, the frequency at which small businesses conduct strategic planning is vital to the success of the company. However, the review suggests that the studies followed a flawed method to establish this, and this makes it hard to offer a conclusive comment on the same. Owners have the capacity to influence strategic planning in a business. Managers who had worked in a…
References
Fox, L.H. (2013). Strategic human resource development in small businesses in the United
States. Academy of entrepreneurship journal, 19(1), 77-118.
Kraus, S., Reiche, S., & Reschke, H.C. (2007). Implications of Strategic Planning In SMEs For
International Entrepreneurship Research and Practice. Published in M. Terziovski (Ed.), Energizing Management through Innovation and Entrepreneurship: European Research and Practice, pp. 110-127. London: Routledge. Retrieved from http://blog.iese.edu/reiche/files/2010/08/Implications-of-strategic-planning-in-SMEs.pdf
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