Vision setting among Zimbabwean SMEs and its impact on SMEs’ survival and growth

Abstract

Management literature has always argued on the importance of vision formulation for success in business undertaking. Vision formulation is equally important to SMEs development especially in development in the economic activities in Zimbabwe. It is acknowledged that vision formulation is key to the performance of SMEs. This study seeks to establish how vision influences the implementation of strategy which is important to both the survival and growth of SMEs, and their continued contribution to economic growth. There is evidence that SMEs owners have developed visions for starting and growing their businesses. The findings of this study indicate that vision formulation is anchored in either the social security of the owners or are competitive business driven. The social security businesses pursue strategies different from those that is essentially business focused with the later realising greater success than the former.