Abstract
This precise study is the first to perform a focalized investigation on the relationship between entrepreneurial business networks and sustainable performance of small firms. The entrepreneurial business network is a multifaceted business network of business firms, working together to achieve business objectives. Business relationships and firm aggregations are the main categories of entrepreneurial business networks, which help small and medium-sized enterprises to become more dynamic, innovative and competitive. The entrepreneurial business network is a networking, which provides a platform to build business relationships, identify, develop or act upon economic opportunities, share information and seek potential business partners for ventures. However, few studies have sought to understand the association of entrepreneurial business network (EBN) and firms’ sustainable performance in the context of Pakistan. This investigation aims to examine the relationship between EBN and small firms’ sustainable performance by applying the Smart PLS-SEM software V-3.2.8. This study explores how dynamic capabilities mediate the relationship between entrepreneurial business network and sustainable performance of small firms. The data received reports on small firms, manufacturing surgical instruments. The findings indicated that the entrepreneurial business network had a significant positive relationship with dynamic capabilities, which in turn presented a positive relation to a sustainable performance of small firms. By developing sustainable EBN, small firms can achieve sustainable performance by implementing dynamic capabilities in a competitive environment. The results affirmed that highly entrepreneurial firms showed a tendency to create a business network for achieving sustainable performance. The results also revealed that firms using business networks and dynamic capabilities efficiently; achieved their sustainable performance. The findings indicated that the study proposed a holistic and systematic model to achieve sustainable performance through firms’ dynamic capabilities. The generalizability of these findings provides useful insight and direction for future studies in Pakistan.
Highlights
In the prevailing competitive and challenging international economic situation, a viable and dynamic small and medium enterprises (SMEs) sector is essential to the economic progress of the respective country [1]
The main feature of this research model is that small firms’ dynamic capabilities mediated the relationship between the entrepreneurial business network and sustainable performance of a small firm
This study and its structural model have addressed the gap in small business development through an in-depth literature review
Summary
In the prevailing competitive and challenging international economic situation, a viable and dynamic small and medium enterprises (SMEs) sector is essential to the economic progress of the respective country [1]. Small firms and SMEs have to adopt the best utilization strategy of their available resources to ensure firms sustainable growth in challenging and competitive business environment as they face challenging and competitive business environment and uncertainty in the business industry in Pakistan [8]. These unfavorable circumstances encourage the small and medium-sized firms to overcome the unhealthy business environment in achieving their sustainable business growth [9]
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