Thesis

High growth firms in Scotland : customer perceived value creation and rapid firm growth

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Creator
Awarding institution
  • University of Strathclyde
Date of award
  • 2013
Thesis identifier
  • T13548
Qualification Level
Qualification Name
Department, School or Faculty
Abstract
  • The past twenty years have seen an increasing level of importance attached to rapidly growing "high growth firms" (HGFs) within the academic and policy-making communities. However, despite decades of research, our knowledge about how these firms achieve such strong performance remains limited. The literature is dominated by studies seeking to correlate firm characteristics with growth, rather than attempting to explore the nature of rapid firm growth itself. This thesis contributes to the high growth firm literature by exploring the process of rapid firm turnover growth, specifically at the impact that customer perceived value has on firm performance. Drawing on data collected from a large scale questionnaire and Critical Incident Technique interviews, this thesis presents a number of important findings. It identifies the important role played by critical events or key "trigger points" in firm growth and provides a conceptualisation of this firm growth process. This process emphasises that the manner in which a trigger is sensed, seized and managed is of greater significance than the trigger itself. Competencies such as a propensity for risk-taking, a focus on strategic planning and operational flexibility are identified to be of particular importance to successfully capitalise on critical trigger points. This thesis also explores at length firm-level competencies and firm-customer interactions that help to facilitate customer perceived value creation. At the firm-level, the data demonstrates that high growth firms exhibit strongly customer-centric ideologies, significant operational flexibility and a propensity for learning. At the firm-customer interaction level, high growth firms demonstrate significant competencies, such as engaging deeply with customers and participating in co-creation activities. These competencies allow HGFs to have a significant influence on customer perceived value creation, which in turn has a positive effect on firm performance through higher repeat purchases and referrals. These competencies differentiate HGFs from their more moderately-performing counterparts.
Resource Type
DOI
Date Created
  • 2013
Former identifier
  • 1001232

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