Scholars’ knowledge of the factors behind high-growth firms remains fragmented. This paper provides a systematic review of the empirical literature concerning high-growth firms with a focus on the strategic aspects contributing to growth. Based on our review of 39 articles, we identify five drivers of high growth: human capital, strategy, human resource management, innovation, and capabilities. These drivers are combined to develop a conceptual model of high-growth firms that includes potential contingency factors among the five drivers. We also propose a research agenda to deepen the study of high-growth firms in strategic management.
Related content: Working paper No. 273
Demir, R., Wennberg, K., & McKelvie, A. (2017). The Strategic Management of High-Growth Firms: A Review and Theoretical Conceptualization. Long Range Planning, 50(4), 431-456. DOI: 10.1016/j.lrp.2016.09.004