Small/medium Sized Enterprises (SMEs) Competitiveness: A Global Perspective Competitiveness of Small and Medium-sized Enterprises

Abstract

As the level of competition rises across industries, many Small and Medium-sized Enterprises (SMEs) find it difficult to adapt to the rapidly transforming marketplace, develop new products, and, if required, distinguish themselves in the eyes of consumers. Market-driven strategies for competitive development are made more manageable by the amount of competition that SMEs confront and overcome. In that regard, this is contribution provides a critical assessment of the concept of competitiveness in SMEs, which is a concept used to define the firm’s odds of succeeding against competitors in a particular market or industry. This paper centralizes the ideology of globalization as a major driver that stimulates competition in SMEs across the world. This ideology is confirmed by the fact that the nature of exporting is increasing dramatically as the world continues to evolve. In conclusion, this paper agrees that globalization and exporting have a significant effect on the capacity of SMEs to compete both locally and internationally.