Graduation Year

2024

Document Type

Dissertation

Degree

D.B.A.

Degree Granting Department

Business

Major Professor

Richard Tarpey, DBA

Co-Major Professor

Dahlia Robinson, Ph.D.

Committee Member

Paul Spector, Ph.D.

Committee Member

Sharon Segrest, Ph.D.

Keywords

BFMEA, Business Strategy, eADR, Holistic, STB, Sustainability

Abstract

Multiple US and global statistics show that small businesses are vital to economic development but fail at a startling rate. Small technology businesses (STBs) are around 35% of this small business segment. The central problem addressed in this research is to reduce their short lives and enable growth and stability. The solution is a significant business management strategy iteratively developed by working with business owners and practitioners. A holistic approach to view the business as a whole to address premature failures is not available, and this research presents a comprehensive approach to solving that problem. The study developed a novel approach that applied an effective problem-prevention technique, the failure mode, and effects analysis (FMEA) to STBs to improve survival rates. The researcher found that a more systematic assessment of potential failure modes during their launch is essential. A nascent business failure mode and effects analysis (BFMEA) constructed as a novel process identifies and proactively mitigates STB failures. In the nascent design, BFMEA failure modes have a defined weight depending on the severity of their financial impact and the business value delivered. An elaborated Action Design Research (eADR) methodology evolved the BFMEA artifact (worksheet). This study is a benchmark for a) the successful adaptation of a widely-used technique from the product domain to the business domain, with the relevant business parameters identified and validated in initial implementations; b) a new approach in the business strategy provides a cost-effective step towards STB sustainability; c) an exemplar eADR implementation that explains the iteration and incremental evolution of the BFMEA artifact. Qualitative data collected using interviews and surveys from current and previous business owners are analyzed and presented. The results from this study promise a future artificial intelligence (AI) powered business application as a management strategy for business success and sustainability.

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