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Sustainable Business Growth: an Exploration of Ghanaian Small Business Survival Walden University ScholarWorks Walden Dissertations and Doctoral Studies Walden Dissertations and Doctoral Studies Collection 2019 Sustainable Business Growth: An Exploration of Ghanaian Small Business Survival John W. Atanga Walden University Follow this and additional works at: https://scholarworks.waldenu.edu/dissertations Part of the Sustainability Commons This Dissertation is brought to you for free and open access by the Walden Dissertations and Doctoral Studies Collection at ScholarWorks. It has been accepted for inclusion in Walden Dissertations and Doctoral Studies by an authorized administrator of ScholarWorks. For more information, please contact [email protected]. Walden University College of Management and Technology This is to certify that the doctoral dissertation by John Williams Atsu Atanga has been found to be complete and satisfactory in all respects, and that any and all revisions required by the review committee have been made. Review Committee Dr. Anthony Lolas, Committee Chairperson, Applied Management and Decision Sciences Faculty Dr. David Cavazos, Committee Member, Applied Management and Decision Sciences Faculty Dr. Hamid Kazeroony, University Reviewer Applied Management and Decision Sciences Faculty The Office of the Provost Walden University 2019 Abstract Sustainable Business Growth: An Exploration of Ghanaian Small Business Survival By John Williams Atsu Atanga MBA, Southern New Hampshire University, Manchester, NH, 1990 BS, University of Massachusetts, Lowell, MA, 1987 Dissertation Proposal Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy Applied Management and Decision Science Walden University November 2019 Abstract Small businesses are significant contributors to a nation’s job creation and employment. These enterprises face many challenges that often lead to failure within 5 years. Some small business owners fail because they lack the necessary strategies for maintaining a sustainable business operation. The purpose of this qualitative descriptive phenomenological study was to analyze how to overcome the high failure rate of small businesses in Accra, Ghana. The conceptual framework for this study was institutional and planned behavior theories. The research questions sought participant’s experiences with small business survival that may have led to sustainable businesses. Data were collected from 20 participants using semistructured telephone interviews in Accra, Ghana. Participants were small business owners in the consumer products industry. Eligibility required full-time self-employed persons aged 26-65 years who must have been in business beyond 5 years. Thematic analysis was used to analyze data. After data analysis, member checking was used to establish the trustworthiness of the outcomes. The main result of the study was that small businesses that had identified viable business opportunities in sustaining the needs and challenges of potential customers reported gains in sales and customer retention. The findings were significant for improving sustainable small business efforts, improving self-employment, reducing poverty through inclusive business models, and creating positive social change. Small business owners and policymakers might benefit from this research by reducing redundancies in their operations. This effort should promote an environment that enhances wealth creation and the quality of life of small business owners in Accra, Ghana. Sustainable Business Growth: An Exploration of Ghanaian Small Business Survival By John Williams Atsu Atanga MBA, Southern New Hampshire University, Manchester, NH, 1990 BS, University of Massachusetts, Lowell, MA, 1987 Dissertation Proposal Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy Applied Management and Decision Science Walden University November 2019 Dedication I dedicate this doctoral study to my wife, Regina Nsom Atanga. and my children, Addison and Erick, for their support during my research. Their continuous encouragement significantly allowed for the completion of this program. I will never forget the day my wife suggested that I should go for the Ph.D. I said I have been thinking about it within the past few months, we all agreed as she increased her encouragement for me to do it. I would not be in this position without her support towards the completion of my doctoral degree and for advocating for me in my consulting efforts. To my dad of blessed memory who was a grade-school teacher and Headmaster, your inspiration survives on, Dad. I dedicate this study to all small business owners who work to improve their lifestyle and create jobs for others, particularly in Accra, Ghana. Acknowledgments I would first thank God the almighty for guiding me throughout this journey. Special thanks to my committee chair Dr. Anthony J. Lolas, the Mentor of mentors, Dr. David E. Cavazos, my second committee member, Dr. Hamid H. Kaserooney, my URR. I must make mention of two former committee members who went on retirement while I continued on this journey: Dr. Abraham Meilich and Dr. Lawrence Ness. I remember the faculty members who have contributed one way or the other to my doctoral journey. At a time when I almost gave up the dream, my Committee Chair came handy to cheer me on, with hopes and encouragement. You taught me all the techniques for quality, although a stressful dissertation and in some instances provided articles to support my goal and quest for knowledge. You made a valuable contribution to the study, and I respect your judgment. I cannot forget the words of wisdom from the program Director, Dr. Sandra Kolberg. The approval of my Prospectus was the first milestone that gave me additional encouragement. To my course professors: Dr. Walters McCollum and Dr. Christo McGregories. Mentioned must also be made of my longtime professors and admirers Professor Gerald Herald, Professor Paul Schneiderman, Professor Babir Sihag. Thanks to my classmates, workmates, and colleagues, whose advice and guidance helped me much during the process. I want to acknowledge my family (roots), especially those from the village of Matsum, Muastsu in the Fondom of the Mankon Dynasty friends and colleagues for supporting me through this journey. Table of Contents List of Figures ................................................................................................................... vii Chapter 1: Introduction to the Study ....................................................................................1 Background of the Problem ...........................................................................................4 Problem Statement .........................................................................................................7 Purpose of This Study ....................................................................................................8 Research Questions ........................................................................................................9 Conceptual Framework ..................................................................................................9 Nature of the Study ......................................................................................................14 Definition of Terms......................................................................................................18 Assumptions .................................................................................................................20 Scope and Delimitations ..............................................................................................21 Limitation .....................................................................................................................22 Significance of the Study .............................................................................................23 Significance of Theory .......................................................................................... 23 Significance to Practice......................................................................................... 24 The Significance of Social Change ....................................................................... 24 Summary and Transition ..............................................................................................25 Chapter 2: Literature Review .............................................................................................26 Literature Search Strategy ............................................................................................26 Conceptual Framework ................................................................................................29 Self-Motivation ..................................................................................................... 36 i Intentions............................................................................................................... 37 Internal Business Environment ....................................................................................37 Business Development .......................................................................................... 38 Management Skills and Marketing Strategies ...................................................... 41 Financing Accesses to Credit and Microfinancing ............................................... 43 Innovation, Technology, and Partnership ............................................................. 50 External Business Environment
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