The development of a multi variant model for market intelligence data gathering for Australian micro businesses and SMEs - A first step in unravelling the paradox of big picture thinking by small market players
Micro businesses and SMEs have typically been encouraged to develop and implement "professional" business processes that will enable them to understand their business environment. The driver of this trend has typically come from a growth in the use of external "expert" sources (i.e. consultants and sponsored agents) who are not always fully associated with the business. This growth in external intervention has typically triggered an evolution in contemporary thinking and literature, that would lead us to believe that micro businesses and SMEs operate in a similar way, and with a similar structure, as larger organisations. This paper focuses on some of the findings from a 2012 funded Australian government research project undertaken on market intelligence gathering techniques by micro businesses and SMEs located within Australia. The paper also discusses the 'rock and hard' place a micro businesses and SME finds itself between when attempting to generate robust market intelligence in a rapid, economic and valuable manner. Furthermore, this paper provides insight into the choices available for market intelligence collection for Australian micro businesses and SMEs and also offers a suggestion of a best fit framework for the collection of data by illustrating a novel multi-variant model.