Exploring Leadership Skills for the Sustainability of Small and Medium-Sized Enterprises

Exploring Leadership Skills for the Sustainability of Small and Medium-Sized Enterprises by Yvette Peters MBA, Andrews University, 1997 CMA, Society of Management Accountants of Ontario, 1992 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University April 2019 Abstract Small and medium-sized enterprises (SMEs) contribute to the stability and growth of economies by creating employment in rural and urban areas. More than 60% of SMEs do not survive for longer than 5 years; a lack of leadership skills is among the key problems.Small and medium-sized enterprises (SMEs) contribute to the stability and growth of economies by creating employment in rural and urban areas. More than 60% of SMEs do not survive for longer than 5 years; a lack of leadership skills is among the key problems. The purpose of this multiple case study was to explore the leadership skills ownersmanagers used to sustain their businesses for longer than 5 years. Research participants were 4 owners-managers of SMEs from the manufacturing industry in Trinidad and Tobago that sustained their businesses for at least 5 years. The contingency leadership model and the skill-based leadership model formed the conceptual lens for this study. Data were collected using semistructured interviews and direct observations. Data were analyzed using Miles and Huberman’s analytical strategies and Morse’s cognitive process of coding, pattern matching, interpreting, and summarizing the data. Five themes emerged from the data analysis: leadership skills, leadership values, development of leadership skills, leadership challenges, and improvement in leadership skills. The findings from this study could influence positive social change by providing insights on leadership skills SME leaders could use to sustain their operations for the longer term, resulting in reduced failure of SMEs. A decrease in the failure rate of SMEs might contribute to improved economic conditions, leading to the reduction of poverty in families and communities. Exploring Leadership Skills for the Sustainability of Small and Medium-Sized Enterprises by Yvette Peters MBA, Andrews University, 1997 CMA, Society of Management Accountants of Ontario, 1992 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University April 2019 Dedication I dedicate this doctoral study to my husband, Emmanuel Peters, and children, Stacy Donkoh, Sean Peters, and Sherzelle Peters, to whom I am appreciative for their prayers, love, encouragement, and support during my doctoral journey. Acknowledgments First, I thank God for His unfailing love and guidance through this doctoral journey. He gave me the strength and courage to persevere along and to the end; I could not have made it without Him. Thanks to my husband and children, especially Sherzelle Peters, who encouraged me daily and assumed some of my responsibilities to ensure that I could fully dedicate time to my studies. To my mother, Doris Langley, I say thanks for instilling in me, from early childhood, the importance of learning and perseverance. My deepest appreciation to my brother, Selwyn Louison, for caring even when I was unable to respond quickly to his calls. I acknowledge my Chair, Dr. Richard Boyd Johnson, whose expertise, and patience were valuable throughout the proposal and final stages of the process. My appreciation to my Second Committee Member, Dr. Karin Mae and my University Research Reviewer, Dr. Annie Brown. I greatly appreciate the feedback you provided which were valuable for improving the quality of my study in many aspects. Dr. Marcia Reid-Grant and Dr. Thecla Fitz-Lewis thanks for your support, sharing of ideas, prayers, and encouragement. We met in the classroom and I am forever grateful for that encounter; you always responded whenever I reached out to you. Thanks to the ownersmanagers of the SMEs for taking time off from your busy schedules to participate in this study.