Strategies of Competitive Advantage for Small Businesses in the Service Industry

Strategies of Competitive Advantage for Small Businesses in the Service Industry by LaKeshia Gardner MBA, University of Phoenix, 2014 BA, University of Arkansas at Little Rock, 2011 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University March 2019 Abstract Small business owners play a leading role in the United States economy by creating jobs. However, small businesses have a high failure rate, with approximately 50% going out of business during the first 5 years. The purpose of this multiple case study was to explore the competitive advantage strategies that owners of small businesses used to sustain their businesses longer than the first 5 years. A sample of 6 small service industry businessSmall business owners play a leading role in the United States economy by creating jobs. However, small businesses have a high failure rate, with approximately 50% going out of business during the first 5 years. The purpose of this multiple case study was to explore the competitive advantage strategies that owners of small businesses used to sustain their businesses longer than the first 5 years. A sample of 6 small service industry business owners in Houston, TX that have been in business for 5 years or more participated in semistructured interviews. Additional data were collected from company documents and the review of artifacts related to small business success and longevity. Entrepreneurship theory provided the conceptual framework for the study. Member checking enhanced the credibility of the interpretations of the participant responses. Data were analyzed using Yin’s 5 stages of coding: compiling, disassembling, reassembling, interpreting, and concluding the data. From the data analysis, 3 themes were revealed: financial capital, marketing and competitive advantages, and great customer service. Findings of this study might help owners of small businesses to ensure business growth, increase revenues, and stimulate job creation. Strategies of Competitive Advantage for Small Businesses in the Service Industry by LaKeshia Gardner MBA, University of Phoenix, 2014 BA, University of Arkansas at Little Rock, 2011 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University March 2019 Dedication I dedicate this research to my parents, Claudette Barbee (who encourages me and plants seeds of positivity and perseverance) and Jerome Barbee (who taught me to fight to the finish). I also owe a debt of gratitude to my husband, Byron Gardner, for his support, prayers, and patience. To my guardian angel, Lana Dunn, for being a light to so many while fighting her fight with cancer. My hope is that this achievement will be a source of inspiration for my generation and those who follow. With prayer, discipline, and hard work, you will succeed. Acknowledgments First, I am grateful to God for giving me the strength I needed to complete this journey. I am a better and much stronger person for seeing this research through (Ephesians 3:20). I acknowledge the academic team who contributed to my success in pursuit of completing this study. Many thanks to my research committee chair, Dr. Irene Williams, for her guidance, critique, and time-management suggestions. I also wish to thank committee members, Dr. Beverly C. Muhammad, my second committee member, and Dr. Carol-Anne Faint, university research reviewer, for their guidance and support. I thank my sister, Briona Barbee, for her support on this journey. It meant the world to me that she was proud of me and that I have inspired her to keep pressing toward her academic and career endeavors. I am grateful for my sorority sister, Dr. Gashen Humphrey, who pushed me to tighten up and finish the race. The words of encouragement were needed. Last, my sincere thanks to the small business owners in Houston, TEXAS for sharing their time and knowledge.