Small And Medium-sized Enterprises Managers Research Articles

Talent philosophies and institutional factors as determinants of talent management in SMEs: a French country-specific empirical investigation

PurposeTalent management (TM) is a crucial strategic issue for global organizations, extending beyond multinationals and big companies to encompass small and medium-sized enterprises (SMEs) and contexts outside the Anglo-Saxon sphere. However, TM in SMEs is still under-researched, with a lack of studies and evidence on TM determinants and TM in practice. This study explores, using the lens of institutional theory, how talent philosophies and a combination of institutional factors shape TM in French SMEs, highlighting the interplay between these elements within the specific context of French SMEs.Design/methodology/approachGiven the limited knowledge about TM determinants in SMEs and the need to uncover and understand the phenomenon investigated, this study is exploratory in nature and lends itself to a qualitative research approach. In-depth semi-structured interviews with 27 CEOs, managers, TM and HR managers across 15 SMEs in France provided a comprehensive cross-industry perspective.FindingsThe study reveals that talent philosophies in French SMEs are predominantly inclusive and development-oriented, influenced by institutional factors such as the cultural logic of proximity and personalization, state support mechanisms like the Fonds Unique Interministériel (FUI) and legal frameworks that emphasize equal opportunity. Organizational elements like size and proximity foster a community-focused, egalitarian TM approach, while ownership and vulnerability lead to a reactive and informal TM strategy. The study presents a model that links these determinants to the specific TM approaches observed in French SMEs, illustrating how institutional factors like centralized control and egalitarianism shape TM practices.Research limitations/implicationsThis paper highlights the need for more empirical studies on talent philosophies, institutional and organizational factors not only in SMEs but also in comparison with multinational enterprises (MNEs), through institutional theory. Particular attention should be paid to the homogenization of SME sizes based on their level of establishment.Originality/valueThis study extends studies on TM determinants in SMEs, from the perspective of talent philosophies, utilizing insights from French institutional theory. It is also among the few and new studies to highlight contextual issues of TM as well as how TM is practiced depending on internal and external factors.

Refueling intellectual capital toward innovation performance of SMEs in Saudi Arabia: mediating the role of entrepreneurial opportunity recognition

PurposeThe objectives of this research were to inspect the relationship of intellectual capital (IC), along with its dimensions (human, structural and internal and external relational capital) with innovation performance (IP), to explore entrepreneurial opportunity recognition (EOR) as a mediator between the IC and IP of small and medium-sized enterprises (SMEs) in Saudi Arabia.Design/methodology/approachThis research used data collected via a well-structured questionnaire. The sample size was comprised of 457 participants who were owners and/or managers of SMEs in Saudi Arabia. Further, the findings were extracted from data using partial least squares (PLS) techniques.FindingsThe results indicated that all dimensions of IC, including human capital (HC), structural capital (SC), internal relational capital (IRC) and external relational capital (ERC), had a significant relation with both IP and EOR. It was also shown that EOR positively influenced IP. Furthermore, the results showed that EOR played an important role as a mediator between IC (HC, SC, IRC and ERC) and IP.Practical implicationsThe present research offered a beneficial and novel managerial and theoretical strategy for improving a given firm’s IP with the support of IC and EOR. This finding offered a vision to the management teams of SMEs for full utilization of IC and IP. The present study also provided policymakers, administration and future studies with a path to improving the production and services of SMEs to secure market advantages.Originality/valueAccording to the author’s best knowledge, the present research represented the first attempt to expose the mediating role of the EOR relationship between IC and IP. Furthermore, the present study also developed the relationship between dynamic capabilities (DC) theory, intellectual capital-based view (ICV) theory and resource-based view (RBV) theory, with variables that reveal the theoretical foundation of the study. Finally, the results of this study were verified by the existing literature.

Comparable yet distinct: a systematic review of social and small and medium-sized enterprises growth trajectories

Purpose This study aims to expand the concept of business growth by incorporating sustainability demands, particularly in the context of the Anthropocene era. It explores the growth trajectories of social enterprises (SEs) and small and medium-sized enterprises (SMEs), examining how SEs integrate social and environmental objectives into their growth process. Through a systematic literature review (SLR), this study compares these approaches with traditional SME growth paradigms, highlighting the need for a holistic understanding of business growth that addresses contemporary socioenvironmental challenges. Design/methodology/approach A qualitative SLR was conducted, using a structured search algorithm to identify and evaluate research on growth and scaling in SMEs and SEs. The search of the Web of Science database with specific growth-related keywords yielded 5,362 articles, which were narrowed to 194 after filtering by journal relevance. Content analysis, guided by an inductively developed codebook, examined growth definitions, operationalizations, and methodologies. This paper focused on key growth dimensions (economic, social and environmental) and identified whether growth was addressed as an outcome or process, along with its enablers and barriers. Findings While there are areas of intersection between the literatures, the findings reveal that traditional SME growth frameworks do not entirely align with SEs growth conception and management. Furthermore, SE’s growth barriers and facilitators, as well as growth trajectories more broadly, emerge as distinct from those of traditional SMEs. The results distill insights from SE growth paths that can be valuable for traditional SME managers, particularly in terms of managing stakeholders and the institutional environment. Social entrepreneurs commonly use strategies for reshaping business norms, influencing consumer culture and raising social issues awareness, leveraging the values of stakeholders to secure essential support. Originality/value As SMEs confront escalating pressure to align with the sustainable development agenda, the findings underscore the critical significance of drawing insights from the burgeoning SE growth literature. This suggests that traditional SME growth literature stands to gain invaluable insights from recent SE research, fostering a more nuanced comprehension of sustainability-centric SME growth trajectories.

Investigating the Impact of CSR Practices on Financial Performance: A Multiple Mediation Analysis in the Moroccan Exporting SMEs

Numerous pieces of research have shown that corporate social responsibility (CSR) orientation is key to driving long-term survival, growth and sustainable performance in a complex and dynamic environment. However, studies of the relationship between CSR and financial performance (FP) have yielded disparate results. Therefore, the current study aims to examine the effect of CSR on FP by using customer satisfaction (CS), reputation (REP) and competitive advantage (CA) as mediating variables. The data for this study was collected via a survey of 207 Moroccan exporting small and medium-sized enterprises (SMEs) and analyzed using SPSS 25 and Structural-equation Modeling with the aid of AMOS 23. Outcomes revealed that CSR has no significant direct effect on FP, but rather an indirect effect through REP and CS. Likewise, the link between CSR and FP is mediated on the one hand by CS and CA, successively and on the other hand by REP and CA, successively. These findings provide a verified theoretical framework for SME managers to plan and execute CSR to enhance FP by indirectly targeting the aforementioned intangible assets. The paper contributes to the knowledge of how CSR practices lead to FP in an under-explored context of SMEs in a developing country.

Development of a fuzzy analytic hierarchy process model, sensitivity analysis, and addressing barriers to additive manufacturing implementation in small- and medium-sized enterprises (SMEs)

Additive manufacturing (AM) is gaining popularity worldwide due to its potential to revolutionize manufacturing processes, improve product customization, and reduce waste. Nevertheless, small- and medium-sized enterprises (SMEs) encounter major challenges when implementing AM technologies. The objective of this research is to utilize the fuzzy analytic hierarchy process (FAHP) to identify and prioritize the critical challenges that impede the implementation of AM for SMEs. The study employs a two-stage methodology. First, a thorough literature review and expert discussions identify 15 major barriers to AM adoption. Second, a systematic model is proposed to establish a ranking of these barriers, which is based on the FAHP. The results are validated using sensitivity analysis to ensure the robustness of the findings. Additionally, potential solutions to overcome these barriers are discussed. The research indicates that the two most significant barriers for SMEs are the high costs of equipment and the scarcity of skilled designers. The model that has been presented is a valuable resource for SME managers and practitioners, as it allows them to make strategic and informed decisions that facilitate the efficient implementation of AM. This research is groundbreaking in its comprehensive analysis of the prioritization and ranking of AM implementation barriers, with a particular emphasis on SMEs. It offers essential insights for future research and practical applications.

Adoption of Advanced Manufacturing Technology by SMEs in Kenya: Effect on Performance and Policy Implications

This study examined the adoption of advanced manufacturing technology (AMT) by small and medium-sized enterprises (SMEs) in Kenya and its effect on their performance. The study utilized a mixed-methods approach, combining qualitative and quantitative data collected through Interviews and structured questionnaire respectively. The target population constituted SME owners and Managers across various manufacturing sectors in Kenya. The study employed a stepwise regression model to analyze the results. Findings indicate a positive correlation between AMT adoption and operational performance, including increased production efficiency, product quality, and market competitiveness. The study also shows a significantly positive relationship between use of AMT by SMEs in Kenya and their ability to develop and sustain competitive advantage in their operations by employing both planning and design technologies. Specifically, the study found a significant and positive relationship between design technologies and performance of SMEs in Kenya (p<0.001), and between planning technologies and performance of SMEs in Kenya (p<0.001). Further, the study found that manufacturing technologies do not have a signigificant positive effect on performance of SMEs in Kenya when considered together with planning technologies and design technologies (p=0.698).The paper recommends that SMEs should adopt design technologies and planning technologies that are aligned to their manufacturing process. The study also recommends that appropriate policies that encourage adoption of AMT should be developed to enhance performance of SMEs given their pivotal role in national economic development.

Linking the trickle-down effect of supervisor incivility to turnover intentions in the context of SMEs: a serial mediation model

PurposeBased on conservation of resources theory and incivility spiral theory, this study examines the relationship between supervisor incivility and turnover intentions by investigating the mediating roles of co-worker incivility and emotional exhaustion.Design/methodology/approachA serial mediation model was empirically tested with a sample of 600 employees in Greek small and medium-sized enterprises (SMEs).FindingsResults indicate that supervisor incivility is linked to turnover intentions in three main ways. Directly, indirectly through emotional exhaustion, and indirectly through the serial mediation of co-worker incivility and emotional exhaustion.Research limitations/implicationsPossible limitations of the study include the sampling techniques and the self-reporting measures for data collection.Practical implicationsFindings attest that owners and managers of SMEs should take note of the trickle-down effect, namely that their own misbehavior will fuel co-worker incivility. Supervisor incivility has cumulative, deleterious consequences on employees, depleting their emotional resources and enhancing turnover intentions, and should therefore be restricted through appropriate practices.Originality/valueFew empirical studies have explored the effects of supervisor incivility on the incivility manifested by others and their impact on turnover intentions. The study enriches the trickle-down effect literature by identifying an additional indirect path linking supervisor incivility and turnover intentions. Further, this study took place in SMEs, a context with limited research in abusive supervision and incivility yet highly pertinent, given that SMEs informality might leave such behavior unchecked.

Revealing the Secrets of Metaverse Technology Adoption for Sustainable Performance via Dual-Stage SEM-ANN Analysis

The growing ubiquity of the metaverse among small and medium-sized enterprises (SMEs) offers a game-changing chance for creative business plans and improved communication. This adoption reduces the consumption of physical resources and promotes an environmentally responsible business model in besides increasing operational efficiency. In accordance with the Sustainable Development Goals (SDGs) of the UNDP, our study attempts to clarify how the metaverse might improve the sustainable performance of SMEs. We developed a comprehensive study model based on the diffusion of innovation (DOI) and technical organizational and environmental (TOE) paradigms. For data analysis a hybrid approach merging partial least squares-structural equation modeling (PLS-SEM) and artificial neural network (ANN) was implemented. The study highlights the crucial roles of relative advantage, value alignment, compatibility, and top management after analyzing data from 369 respondents across Chinese SMEs that was collected both physically and online. The understanding of decision-makers becomes evident as a crucial element impacting the adoption of metaverse and ensuing sustainable (social, economic, and environmental) outcomes. This study offers valuable insights on metaverse adoption and sustainable performance for Chinese SMEs. Additionally, it offers appropriate suggestions for managers of SMEs, policy makers, and metaverse developers.

TOOLS FOR EFFECTIVE CAREER DEVELOPMENT MANAGEMENT

In today’s environment, managing employees’ career development is becoming a key factor for the success and sustainable development of organizations, especially small and medium-sized enterprises (SMEs). The purpose of this article is to investigate current approaches to career management in SMEs and provide practical recommendations based on theoretical research and empirical evidence. The novelty of the study lies in the integrated approach to analyzing career management practices using both quantitative and qualitative methods. This allows for a deeper understanding of the impact of career development on employee motivation and retention in a resource-constrained and highly competitive environment. The research methodology includes reviewing existing literature and analyzing case studies from different industries to identify best practices and success stories. The use of mixed research methods, such as surveys and in-depth interviews, provides a more comprehensive view of current practices and their impact on employees. The results of the study show that career development management is critical to improve employee motivation and retention, which is particularly relevant for SMEs. Pay attention to aspects such as training and development, performance appraisal systems, reward systems and their impact on employee motivation. Training and development help to improve employees’ skills and adaptability to changes in the market, while appraisal systems such as 360-degree feedback and regular evaluations help to identify achievements and areas for improvement, forming individual development plans. A fair and competitive compensation system motivates employees and promotes employee retention. The author’s personal contribution is the design and implementation of an integrated research methodology that combines quantitative and qualitative methods, which provided comprehensive data and offered practical recommendations for SMEs. The article also discusses the factors that influence employee retention and the creation of a positive corporate culture, which contributes to their long-term professional growth and enhances companies’ competitiveness in the market. In an environment of rapid change and globalization, SMEs must pay special attention to human capital development to maintain competitiveness and achieve sustainable growth. The article provides recommendations for the implementation of effective career management programs and examples of successful practices from different sectors.

Drive sustainable business performance with humane entrepreneurship, knowledge management: the mediation of sustainable business advantage and sustainable business model innovation

PurposeThis study evaluates the important role of humane entrepreneurship (HE) on sustainable business advantage (SBA) and sustainable business performance (SBP) by exploring the mediating role of sustainable business model innovation (SBMI) under the influence of knowledge management (KM) in small and medium-sized enterprises (SMEs). Encouraging businesses to implement a combination of KM and HE facilitates the implementation of SBMI that brings value to businesses, communities and the environment in emerging economies.Design/methodology/approachThis study uses an empirical quantitative research method using primary information based on data collected by questionnaires. The study sample resulted in 424 valid responses (66.77% response rate). The target audience of the study is middle and senior managers in SMEs. This study aims to perform structural modeling analysis with the maximum likelihood estimates method to examine structural relationships.FindingsThis study found a positive relationship between KM and HE to SBMI. At the same time, SBMI plays an important role for businesses to achieve SBA and SBP. Similarly, a positive relationship was also found between HE to SBA and SBP. And SBA strongly promotes SMEs to achieve SBP. In addition, the mediating role of SBMI and SBA is clarified to have a positive impact between HE–SBP and SBMI–SBP. HE plays an important role in motivating businesses to innovate sustainable business models, making it easier to gain sustainable competitive advantages, thereby bringing sustainable business results.Practical implicationsThis research helps SMEs realize the importance of KM and HE in SBMI. At that time, SMEs take advantage of internal and external information sources and innovate their business models based on HE mechanisms. Applying HE mechanisms will allow businesses to innovate their business models by combining concerns between stakeholders and the social environment for sustainable development. Therefore, businesses will achieve their SBA toward SBP.Originality/valueThe present literature shows that there are few empirical studies on the mechanism mediating SBMI in the relationship between HE and SBP; and SBA in the link between SBMI and SBP. In addition, the impact of KM and HE on SBMI is also very important in the current context. The study's findings could have huge implications for entrepreneurs and senior managers in SMEs in emerging economies. Help them realize the importance of KM and HE for SBMI, thereby building strategic perspectives that help businesses achieve sustainable competitive advantages and increase SBP for businesses.

How does supply chain collaboration improve innovation performance of SMEs? The roles of absorptive capacity and business environment

There is increasing awareness that customers and suppliers serve as key external information sources for the innovation of small and medium-sized enterprises (SMEs). However, existing research on the influence of customer participation (CP) and supplier participation (SP) remains inconsistent. This study addresses this gap by investigating how CP and SP affect different types of innovation performance of SMEs in China. Furthermore, by addressing the gap regarding the unclear mechanisms of CP and SP in SMEs’ innovation performance, this study explores the mediating role of a firm's absorptive capacity on innovation performance and the conditions under which absorptive capacity will be more effective. Based on a sample of 1861 SMEs in China, the findings highlight that CP positively impacts product innovation performance, with absorptive capacity acting as a partial mediator. Additionally, both CP and SP influence process innovation performance directly or through absorptive capacity. Meanwhile, the business environment moderates the effect of absorptive capacity on product innovation performance. These findings contribute to the theory of open innovation and offer valuable insights for SME managers, entrepreneurs, and scholars in enhancing innovation outcomes.

Exploring Competitive Intelligence Effectiveness on SMEs Performance: The Meditating Influence of Entrepreneurial Orientation

The small and medium-sized enterprise (SME) sector is the backbone of the economies of most large countries, driving employment and economic growth. Competitive intelligence (CI) is a major concern for academics and practitioners, as it affects company strategy. In the current uncertain global climate, CI is crucial, as it fosters the development of new ideas and innovations. Given that more established companies typically hold this association, the overarching goal of this study was to explore how smaller companies' entrepreneurial drive interacts with their use of CI to boost performance, thereby adding to the existing body of knowledge. We obtained information from 504 small business owners or managers, and tested the suggested heuristic model via descriptive statistics and partial least squares structural equation modelling (PLS-SEM). The results indicated that entrepreneurial orientation (EO) plays a significant role in mediating the impact of CI on SMEs' performance. We confirmed that CI has a direct effect on SMEs' performance, as does the nexus between CI and EO. However, EO mediates this connection. On the basis of the results of this research, SME managers should maintain a thriving entrepreneurial mindset while developing novel strategic approaches to increase innovation and productivity. Furthermore, we provide valuable recommendations for future research, and we urge policymakers to launch entrepreneurship programmes to help SMEs develop an entrepreneurial drive and a conceptual model that positions EO as a strong indicator of CI and SME performance.

The Relationship between Sustainable Development and Organizational Performance of SMEs in Guangdong Province, China

This study investigates the impact of sustainable development on the organizational performance of small and medium-sized enterprises (SMEs) in Guangdong Province, China, focusing on three dimensions: economic, social, and environmental sustainability. A quantitative research approach was adopted, utilizing Structural Equation Modeling (SEM) with data collected from 371 SMEs in Guangdong Province. The analysis was conducted using SmartPLS 4.0 to test the proposed hypotheses. The results indicate that all three dimensions of sustainable development positively influence organizational performance. Economic sustainability enhances financial performance and competitiveness, social sustainability improves employee engagement and stakeholder relationships, and environmental sustainability reduces operational costs and enhances market reputation. The cross-sectional nature of the study limits the ability to infer causality. Future research should consider longitudinal studies and explore the impact of sustainable development across different regions and industries. SME managers should integrate sustainable practices into their business strategies to improve organizational performance. Policymakers are encouraged to create supportive environments and incentives for SMEs to adopt sustainability practices. This study contributes to the literature by providing empirical evidence on the positive impact of sustainable development on SME performance in the context of a rapidly developing region. It also extends the application of Dynamic Capability Theory to sustainability practices within SMEs.

Strategic Initiatives for Humanized Management for Smes to Support Sustainable Development Goals (SDGS)

Objective: The study aims to (1) explore the problems of humanized management, (2) identify the factors associated with humanized management, and (3) propose strategic initiatives for humanized management for small and medium-sized enterprises (SMEs) in Bishan, Chongqing. Theoretical Framework: The research draws on Theory Y, Theory Z, and Leader-Member Exchange Theory (LMX). Method: Both qualitative and quantitative approaches were used. First, the problems of humanized management were gathered through qualitative interviews with 8 CEOs and analyzed using thematic analysis. Second, the descriptive analysis and Confirmatory Factor Analysis (CFA) were used to analyze the 5-point Likert scale questionnaires gathered from 388 SME employees. Third, three experts were consulted for strategic initiatives for humanized management. Results and Discussion: The problems in humanized management included Team Cohesion, Welfare, and Fairness. CFA results indicated that 9 variables significantly influenced humanized management, including Recognize an Employee's Potential, Self-Control, Team Cohesion, Employee Participation, Mutual Respect, Responsibility, Working Relationship, Leader Expectation, and Team Support, with the first 3 being most important. The strategic initiatives suggested by 3 experts were provided to enhance humanized management. Research Implications: The emphasis on recognizing an employee’s potential, promoting self-control, fostering team cohesion, addressing welfare, and ensuring fairness collectively supports SDG 8: Decent Work and Economic Growth. Originality/Value: Besides 9 significant variables from Theory Y, Theory Z, and LMX, two additional variables, Welfare and Fairness, significantly impacted humanized management in SMEs in Bishan, Chongqing. The strategic initiatives for humanized management for SMEs to support SDGs were given.

Is formalisation Enough to Achieve Growth in SMEs?

The objective of this research is to determine whether the formalisation (FORM) of small and medium-sized enterprises (SMEs) has an impact on the growth, and determine which aspects of SMEs management, when formalised, are associated with and contribute to the growth of these organisations. A survey was applied to 403 proxies of SMEs in Lima, Peru. A structural equation model was used to validate the hypotheses. The results indicate that there is a positive and significant association between the FORM of SMEs management and the growth of these organisations. The main finding of this research is to determine that the formalisation of SME management in Lima, Peru explains their growth by only 27%, leaving 63% explained by other factors that could be not only management aspects, but also aspects of the SME environment. State institutions, companies and academia should analyse the low economic contribution of SMEs from a broader approach and not only from the position that formalisation is the only reason for growth. Other aspects should be studied, such as education in management issues by entrepreneurs, development of collaborators' competencies, improvement in the efficiency in the management of State institutions, among other factors; and thus, find the appropriate mechanisms that contribute to the growth of SMEs. This research is the first to analyse, in a single study, whether the formalisation aspects of SMEs management contribute to their growth. Finally, this research has contributed to the construction and conceptualisation of the SME growth variable.

Determinants of SMEs' strategic entrepreneurial innovative digitalization: examining the mediation role of human capital

PurposeThis study was inspired by research of strategists on strategic innovation (SI), aiming to provide a unique model to enhance the digitization of small and medium-sized enterprises (SMEs) in Bangladesh to fill the gap toward a digital economy.Design/methodology/approachA survey was used to collect data from 180 SMEs in the manufacturing industry for this research. The results indicate that strategic innovativeness (SI), human capital (HC), infrastructure and technology and resistance to change significantly influence the digitalization in Bangladesh SMEs.FindingsThe link between SI and SMEs' digitalization in Bangladesh is mediated by HC. The results show that HC plays a big role in the connection between SI and the digitalization of SMEs. This study may be valuable for SMEs managers, researchers and policymakers in Bangladesh and other developing nations, who want to learn more about SI in adopting digitalization.Originality/valueThe specialized knowledge and abilities of strategists allow them to establish parallels between the past and present, enabling them to make a sustained forecast about the digital economy. This study encourages small and medium-sized businesses to develop their SI and advance their HC, which could further deject resistance to change toward enhancing and adopting digitalization in SMEs sectors.

Technological and market sensing capabilities as drivers of SME participation in public procurement: an empirical test of the moderating role of financial capability

PurposePublic procurement presents substantial market opportunities for small- and medium-sized enterprises (SMEs), which can contribute to their economic growth. However, limited dynamic capabilities often pose challenges for SMEs to participate effectively in public procurement markets. Drawing on dynamic capability (DC) theory, this study explores whether financial capability (FNCP) influences SMEs’ ability to leverage their technological capability (TECC) and marketing sensing capability (MKSC) and actively engage in public procurement.Design/methodology/approachData for this study were collected from 248 SME managers in the Ilala District, Tanzania, using a cross-sectional questionnaire survey and stratified random sampling technique. The proposed hypotheses were tested empirically through confirmatory factor analysis (CFA) and the Hayes PROCESS macro.FindingsTECC and MKSC demonstrated significant positive associations with SME participation in public procurement (SMPP). Moreover, the interaction between TECC and FNCP as well as the interaction between MKSC and FNCP demonstrate a significant positive effect, suggesting that FNCP strengthens the impact of TECC and MKSC on SMPP.Research limitations/implicationsThe scope of this study was limited to SMEs in the Ilala District of Tanzania, hence affecting the generalizability of the findings to other contexts. More importantly, the study findings enrich the understanding of DC theory, signifying that the integration and reconfiguration of MKSC, TECC and FNCP add significant value to SMPP.Practical implicationsThe findings suggest that policymakers, support institutions and SME managers should focus on enhancing SMEs' MKSC and TECC to improve their participation in public procurement. In addition, improving SMEs' access to financial resources can further strengthen these effects, enabling more inclusive participation in public procurement.Originality/valueThe study contributes to the literature on SMPP by highlighting the critical roles of MKSC and TECC. It also underscores the importance of FNCP as a moderator in these relationships, which has not been addressed in the existing literature. By integrating these factors, the study offers a comprehensive framework for understanding the dynamics that influence SMPP from financial, technological and marketing perspectives, particularly in developing economies like Tanzania.

Market orientation, integrated marketing communications, and small and medium-sized enterprises (SMEs) performance: A comparison between developed and developing economies

Drawing on dynamic capabilities theory, the study aims to contribute to the existing literature by investigating the mediating role of integrated marketing communication (IMC) in the relationship between market orientation (MO) and customer-related and market performance. Specifically, it focuses on understanding how IMC operates as a strategic tool for small and medium-sized enterprises (SMEs) in the international environment. The research uses data from 422 SMEs and large firms in both developed and developing economies. Hypothesis testing was conducted using structural equation modelling (SEM). The results show that IMC, as a dynamic capability, enhances the positive impact of MO on customer-related and market performance in both developed and developing economies. The firm's size moderates this mediation effect; however, the moderation varies depending on the economy type. In the developing economy, IMC mediation is stronger for SMEs than large firms, whereas in the developed economy company size doesn't impact IMC mediation. This research contributes to the marketing communications and business management theory, particularly by expanding the knowledge of the unique context of SMEs in developing economies. The practical implications of the study are particularly relevant for SMEs managers operating in diverse economic contexts, providing actionable insights that can inform decision-making and marketing strategies for SMEs.

INNOVATIVE STRATEGIES IN RISK MANAGEMENT AND CRISIS RESPONSE IN BUSINESS

The growth and sustainable development of companies depend on their ability to adequately and effectively identify and utilize innovative strategies. The aim of the study is to determine the results of the innovative strategy of international small and medium-sized enterprises (SMEs) in times of economic crisis. The research involved 360 owners and managers of international SMEs in the European Union. The study used tabular and graphical methods, surveys, questionnaires, and correlation and regression analysis. It was found that 82.7% of SMEs improved their production processes, while 62.8% implemented innovations by acquiring new products or equipment. It was established that 82% of enterprises implemented innovative strategies in the commercial or trade sector, 73.2% in the service sector, and 77.7% in other sectors. The models developed in the study contribute to the modern development of the economy since they analyze the relationship between innovative strategies and determinants affecting their successful implementation and implementation. Prospects for further research include analyzing the types of innovative strategies that prevail in the activities of international SMEs, as well as their size and sectors of activity.

Nice to value. Unraveling the nexus between management accounting use and financial performance: A quantitative study of SMEs

ABSTRACT This study investigates the intricate relationship between management accounting (MA) practices and financial performance (FP) in small and medium-sized enterprises (SMEs) in Italy and Germany, offering practical insights for practitioners and policy makers. Despite the theoretical benefits of MA practices like cost accounting, budgeting, and key performance indicators, their implementation in SMEs remains limited. Prior research suggests that SMEs often rely on informal control systems due to resource constraints and a lack of familiarity with MA tools. The COVID-19 pandemic and recent European conflicts have stressed the need for robust MA practices to navigate economic volatility and enhance resilience. Using a quantitative approach, data were collected via questionnaires from 238 SMEs in Italy and Germany, targeting chief financial officers, board members, and majority shareholders. The analysis, employing partial least squares structural equation modeling, reveals a significant positive impact of MA practices on FP. Factors such as resource availability, training, and the culture of control play crucial roles in this relationship. These findings underscore the strategic importance of MA in driving organizational performance and highlight the need for SMEs to adopt these practices more comprehensively. This study offers valuable guidance for SME managers in enhancing operational efficiency and strategic decision making. Moreover, it provides policy makers with evidence-based recommendations to support SME growth and resilience through targeted training programs and resource allocation, ensuring a robust framework for economic stability and development.