Small And Medium-sized Enterprises Managers Research Articles

Transformational Versus Transactional Leadership: Implications for SME Management

Leadership styles play a crucial role in shaping the performance and outcomes of Small and Medium-sized Enterprises (SMEs). This paper discusses two prominent leadership styles, transactional and transformational leadership, on various organizational aspects within the SME context. Transactional leadership, characterized by structured exchanges based on rewards and penalties, is found to positively influence employee performance, operational efficacy, and strategic success in diverse settings. While transactional leadership is noted for its direct impact on organizational processes, its relationship with innovation and learning capabilities is nuanced. On the other hand, transformational leadership, focusing on inspiration and motivation through a shared vision, has a significant positive influence on innovation, employee performance, and retention in SMEs. Studies highlight how transformational leadership fosters a culture of trust, innovation, and continuous improvement, impacting areas such as knowledge sharing, organizational citizenship behavior, and sustainability practices. The findings stress the critical role of both leadership styles in driving success within SMEs, emphasizing the need to consider specific practices, sectoral contexts, and organizational environments for optimal impact.

Development and effectiveness analysis of a safety management model for SMEs integrating lean management innovation with SQCDP framework.

This study organically integrates the safety, quality, cost, delivery, and people (SQCDP) management mode and lean management to create the SQCDP + lean safety management (SLSM) mode, which addresses certain problems faced by China's small- and medium-sized enterprises (SMEs), such as imperfect safety management systems, poor regulatory implementation, challenging problem correction, and perfunctory management. It then explains the benefits proposed mode for SMEs and the establishment of a novel mode that aligns with the current safety production and operation management of SMEs. The application of the SLSM mode to a private machinery manufacturing company in Wenzhou resulted in the effective shouldering of safety responsibilities by the company, a year-on-year decrease in accident rates, and a significant increase in production efficiency, thereby providing corporate managers with guidance and suggestions for making improvements.

The impact of strategic management on organizational creativity and its influence on the financial performance of SMEs

PURPOSE: This research intends to help small and medium-sized enterprises (SMEs) in Ho Chi Minh City (HCMC) to understand the strategic management process. The study considers an inside-and an outside-in perspective and the intermediary role of organizational creativity in financial performance. It also aims to help SMEs achieve financial performance benchmarks and work towards sustainable development goals. This research is also significant and adds value to the performance management domain. Its overarching objective is to promote long-term business expansion through an exploration of the strategic management process and how organizational creativity and financial performance can be supported. METHODOLOGY: The sample data are collected from 411 SMEs in HCMC using convenience sampling. The data are rigorously screened and cleaned to select a reliable sample for analysis, and Smart PLS software is employed for data analysis to achieve the study’s outcomes. FINDINGS: Factors such as the strategic management process, an inside-out perspective, an outside-in perspective, and the intermediary role of organizational creativity positively impact the financial performance of Vietnamese SMEs in HCMC. IMPLICATIONS: The results show that SMEs are making changes and influencing these factors to improve financial performance. This research contributes value and provides a holistic perspective on the strategic management process for Vietnamese SMEs in HCMC to improve financial performance. ORIGINALITY AND VALUE: The study offers insight into strategic management and highlights the pivotal role of creativity in managing the financial performance of enterprises. The overarching goal is to achieve sustainable development in an increasingly competitive environment. The study also provides a solid foundation for SME managers to restructure their operations for enhanced financial performance. It also offers valuable insights for future scholars to consider and apply in expanding available research models.

Strategic Management Practices and Survival Rates Of Small and Medium Sized Enterprises Start-Ups In Taita Taveta County, Kenya.

This study investigated the influence of strategic management practices on the survival rates of small and medium-sized enterprise (SME) start-ups in Taita Taveta County, Kenya. The study focused on five key strategic management practices: strategic planning quality, leadership effectiveness, strategic innovation, strategic market orientation, and access to financing. Specifically, it examined how these practices impacted SME survival indicators such as business longevity, financial stability, and market presence. A descriptive research design was adopted, and data were collected using structured questionnaires distributed to SME owners and managers within the county. The sample included both established and relatively new SMEs operating across various sectors. The findings revealed that strategic planning quality, characterized by goal setting, resource allocation, and risk assessment, significantly influenced SME sustainability. Leadership effectiveness, particularly in decision-making and adaptability, was found to enhance organizational resilience. Strategic innovation through product and process improvements, as well as technology adoption, also contributed positively to SME growth. Strategic market orientation, emphasizing customer focus, market responsiveness, and competitor analysis, improved market positioning and survival. Furthermore, access to financing, including credit availability and cost of funding, emerged as a critical determinant of SME longevity. The study concluded that the adoption of comprehensive strategic management practices significantly enhanced the survival and competitiveness of SME start-ups. The findings underscored the need for SME stakeholders to prioritize strategic approaches in operations to address challenges and ensure long-term success. Recommendations were provided to policy-makers and practitioners to support SME development through targeted interventions.

Green Innovation in Small and MediumSized Enterprises

Environmental protection is a priority for all countries. Ways are being sought to reduce the harmful effects of the population and to improve the environmental friendliness of business. In Bulgaria, small and medium-sized enterprises (SMEs), which have the largest share in the economy, have a significant contribution to environmental pollution. In view of this, timely measures to overcome this situation could lead to serious positive results. Green innovations are the main mechanism for achieving environmentally friendly economic growth and their importance is constantly growing. This article presents the results of an empirical study of the innovation activity of Bulgarian SMEs in the field of green innovation. The study also identified the attitudes of SME managers to this type of innovation. These results could be the basis for further discussion on these issues and be useful not only for future research, but also for all institutions responsible for stimulating innovation and development of SMEs in our country.

Artificial intelligence adoption and revenue growth in European SMEs: synergies with IoT and big data analytics

PurposeThe conventional notion that adopting Artificial Intelligence (AI) positively affects firm performance is often confronted with various examples of failures. In this context, large-scale empirical evidence of the economic performance implications of adopting AI is poor, especially in the context of Small and Medium Sized Enterprises (SMEs). Drawing upon the Resource-Based View and the Digital Complementary Asset literature, we assessed whether the adoption of AI affects SMEs’ revenue growth.Design/methodology/approachFirst, we examine the relationship between the adoption of AI and SMEs’ revenue growth. Second, we assess whether AI complements the Internet of Things (IoT) and Big Data Analytics (BDA). We use firm-level data from the European Commission in 2020 on 11,429 European SMEs (Flash Eurobarometer 486).FindingsAmong the key findings, we found that ceteris paribus, the adoption of AI positively affects SMEs’ revenue growth and, in conjunction with IoT and BDA, appears to be even more beneficial.Originality/valueOur results suggest that AI fosters SME growth, especially in combination with IoT and BDA. Thus, SME managers should be aware of the positive impacts of investments in AI and make decisions accordingly. Likewise, policymakers are aware of the positive effects of SMEs’ reliance on AI, so they may design policies and funding schemes to push this digitalization of SMEs further.

Small and medium-sized enterprises (SMEs) in Bali: Corporate social responsibility, competitive advantage and its impact on financial performance

Climate-related concerns have drastically made companies realize the need for better environmental regulations and consolidate them in corporate business strategies such as Corporate Social Responsibility (CSR). CSR improves firm performance by valuing the stakeholders' interests and substantially achieving a competitive advantage over competitors. Recognising a firm's competitive advantage in the market indicates performance and might help the company perform better. The objective of this research is to provide concrete proof related to how CSR affects competitive advantage and its effects on company performance, especially financial performance in SMEs in Bali Province. This study uses primary data in the form of questionnaires distributed to SMEs both directly and online. The sample of this research is the manager / owner of SMEs in Bali Province. Data analysis tools using SmartPLS 4.0. The study's findings indicate that CSR has a direct impact on financial performance (SMEs) and CSR indirectly affects the financial performance (SMEs) through competitive advantage. Competitive advantage was found to partially mediate the impact of CSR and financial performance (SMEs). These findings will be used by SME managers in Bali Province in order to enhance the company's financial performance by considering the use of CSR strategies and strengthening competitive advantage. Implementing CSR can help a company become more competitive and separate itself from competitors by providing an innovative product or service. Finally, corporate social responsibility (CSR) can give a company a competitive advantage by strengthening its marketing abilities, which leads to improved performance.

The Interconnections Between CSR, Financial Management, and Sustainability in Service Sector SMEs

This study investigates the relationship between financial management, corporate social responsibility (CSR), and sustainability within small and medium-sized enterprises (SMEs) in the service sector across the Visegrad Four (V4) countries: Poland, Hungary, the Czech Republic, and Slovakia. The research aims to quantify the impact of financial management and CSR on SME sustainability, addressing a critical gap in understanding sustainability dynamics in this sector. The data was collected through a comprehensive survey of 339 SME owners or top managers across the V4 countries, employing a structured questionnaire. The hypotheses were tested using Structural Equation Modeling (SEM) to evaluate the causal relationships between the factors. The results reveal that financial management plays a more significant role in determining the level of sustainability in SMEs than CSR. Nevertheless, CSR also positively affects both sustainability and financial management, though the intensity of its impact on financial management is weaker. These findings are crucial for SME owners and managers, as they highlight the importance of integrating both financial discipline and socially responsible practices to achieve long-term sustainability. The study's implications extend to policymakers, educational institutions, and support organizations, providing a framework for developing strategies that promote sustainable business practices. This research offers a valuable contribution to the body of knowledge on sustainability in SMEs, especially in the context of post-pandemic recovery in the V4 region, and provides practical recommendations for enhancing the resilience and competitiveness of SMEs through improved financial management and CSR integration.

Successful Strategies for Occupational Health and Safety in Small and Medium Enterprises: Insights for a Sustainable Return to Work.

The objectives of this paper were to summarize successful strategies in occupational health and safety (OHS) management in small and medium-sized enterprises (SMEs) and to explore their potential applicability for disability management (DM) and return-to-work (RTW) after work-related injuries. A scoping review was conducted, using a consensus-based iterative approach, and a consultation with stakeholders. Twelve databases were searched in collaboration with a specialized librarian, using keywords and combinations of terms. The reviewers identified pertinent articles, selected those which corresponded to the inclusion criteria, extracted data, and analyzed information using qualitative content analyses. A synthesis was presented to the stakeholders, and their comments on overall applicability of these strategies in the Quebec context of DM and RTW were detailed. A total of 638 references were retrieved from all sources, resulting in 37 scientific articles being analyzed. Four main strategies for improving OHS management in SMEs were identified: dissemination and exchange of information; transmission and acquisition of knowledge, skills, and abilities; using a participatory and collaborative approach; and considering the organizational context. Even if DM and sustainable RTW were sometimes mentioned by authors as important for OHS management in SMEs, specific strategies and implementation elements were not actually described by authors. However, different resources, structures, and activities, associated with one or more of the OHS management strategies described, through their different interactions between the various stakeholders, seem having the potential to act also in sustainable RTW. This review has provided an overview of strategies deployed to improve OSH in SME. The results invite stakeholders to a deep reflection on the potential application of such strategies to encompass sustainable RTW in SMEs.

Evaluating Small and Medium-Sized Enterprises’ Resilience in South Africa

Abstract Research background Small and medium-sized enterprises (SMEs) face unique challenges that require a deeper understanding of the mechanisms that contribute to their resilience in a dynamic economic landscape. Purpose This study investigates the factors that impact the resilience of SMEs, highlighting strategic partnerships, technological advancements, employee engagement, and customer relationships as pivotal elements. Research methodology Employing Yamane’s formula and purposive sampling, the research involved the distribution of a closed-ended questionnaire via email, resulting in an 85% response rate from 153 SME owners and managers. Results Utilizing a multiple linear regression analysis, the research findings revealed an adjusted R-squared of 94.50%, signifying a significant influence of the identified factors on SME resilience in South Africa. Notably, the statistical significance of strategic partners management, technology adoption, employee engagement, and customer relationship management (CRM) emphasizes their contributions to SME resilience. Novelty Enhancing SME resilience involves actively cultivating strategic partnerships for effective disruption anticipation and response. Prioritizing the adoption of relevant technologies, supported by policymakers, can elevate efficiency and adaptability. Crucially, investment in a positive work culture through employee engagement, continuous training, and adaptive human resource strategies is vital. Moreover, businesses should prioritize customer-centric approaches, adopting effective CRM strategies to comprehend customer needs and fortify their market presence.

The Effect of Power Outages on Small- and Medium-sized Enterprises in South Africa

The frequent power outages in South Africa have had a detrimental impact on the nation’s economy overall and on small and medium-sized enterprises in particular. The goal of this study is to determine how load shedding affects small- and medium-sized enterprises (SMEs) in South Africa. The research design pinpoints practical ways to reduce the negative effects of power outages on these companies. This study adopts a quantitative research approach. Fifty SME owners and managers from the Mahikeng local municipality were selected to represent the entire country using a descriptive single cross-sectional design and a non-probability convenience sample technique. The Statistical Package for the Social Sciences (SPSS), Version 27.0, was used to evaluate the collected data. The findings of the study indicate that load shedding has caused significant operational problems for South African small enterprises since 2008. As a result, to maintain output, many companies have had to make adaptations, including establishing backup power solutions and moving to manual labor. SMEs continue to face significant challenges because of the high cost of backup systems, the increase in criminal activity during blackouts, and the requirement for open and positive customer relations, despite efforts to mitigate these consequences. The present study underscores the criticality of SMEs’ investments in crime prevention strategies and dependable backup power systems in Mafikeng and throughout South Africa to mitigate the adverse impacts of ongoing load shedding on commercial operations and economic stability. It is underlined that maintaining client confidence and ensuring continued business performance despite these challenges requires effective customer relationship management.

Impact of financial and internet support on SME performance: Moderating effect of technology adoption during COVID-19 pandemic

Small and medium-sized enterprises (SMEs) are widely recognised as significant catalysts for economic growth at a worldwide level. The benefits that are frequently highlighted for their promotion, particularly in developing nations like Bangladesh, include their relatively high labor intensity, reliance on local technology and skills, contributions to the growth of entrepreneurialism and innovativeness, and industrial linkage expansion. The objective of this study is to examine the influence of financial and internet support on the performance of small and medium enterprises (SMEs) in Bangladesh during the COVID-19 pandemic while also considering the moderating effect of technology adoption. By going through the literature, the study identified a number of factors namely financial support, ICT support, technological support played a strong role on SME performance during COVID-19. The present study utilises Partial Least Square (PLS) path modelling, a variance-based technique within the framework of Structural Equation Modelling (SEM), to investigate the correlations. A well-structured questionnaire is prepared for collecting primary data from the SME owners or managers and finally 378 data have been collected from the different types of SME entrepreneurs through using purposive sampling technique. Eight hypotheses are tested and found seven positive relationships with moderating interaction of technology adoption between influential factors and SME performance (financial and non-financial).

Investigating the critical drivers of Fintech adoption to promote business sustainability of SMEs

Purpose Under the integrated perspective of the Net Valence Framework (NVF) and Theory of Reasoned action (TRA), this research intends to examine the impact of drivers (perceived risks (PRs) and benefits) on FinTech adoption (FA) as well as on business sustainability (BS) of small and medium-sized enterprises (SMEs) in Oman. The purpose of this study is to examine the impact of drivers (perceived risks and benefits) on FinTech adoption (FA) and business sustainability (BS) of SMEs in Oman , under the integrated perspective of the Net Valence Framework (NVF) and Theory of Reasoned Action (TRA). Design/methodology/approach Primary data was collected from 402 owners and managers of SMEs in Muscat, Oman using a purposive sampling method. Structural Equation Modeling with Partial Least Squares was mainly applied to assess the PRs and perceived benefits (PBs) determining both FA and BS of SMEs. Findings The results indicate that PBs (economic, convenience, transaction efficiency) positively impact FA, while PRs (financial, legal, security, operational) act as deterrents toward FA. Both the benefits and risks significantly influence BS. FA itself fosters sustainability, and PBs directly enhance it through ease of use, cost reduction and knowledge acquisition. Conversely, PRs hinder sustainability due to concerns about skills gaps, security, social inclusion and environmental considerations. Practical implications The research forms a model capturing the pros and cons of FA of SMEs to provide stakeholders with ideas that would promote sustainability and drive fintech-based growth and innovation. For instance, by improving financial management efficiency, increasing market access and enhancing competitiveness, SMEs can adopt fintech solutions to support sustainable growth and achieve Sustainable Development Goals across the region’s economy. Originality/value The current research, through the lens of the NVF as well as TRA, explores the contribution of FA determined by PRs and benefits toward BS of SMEs in the context of Oman.

Value‐Focused Thinking and Interpretive Structural Modeling in the Development of Resilience‐Enhancing Initiatives in SMEs

ABSTRACTFollowing the aftermath of the COVID‐19 pandemic, small and medium‐sized enterprises (SMEs) have faced growing challenges that underscore the critical need for enhanced organizational resilience. This study aims to bridge the gap in resilience research by offering a structured and practical decision‐support tool to enhance the resilience of SMEs. Adopting a multiple‐criteria decision analysis (MCDA) approach, combining value‐focused thinking (VFT), and interpretative structural modeling (ISM), the study identifies and prioritizes key initiatives and factors affecting SME resilience. Specifically, using a constructivist, process‐oriented methodology, we engaged an expert panel from diverse sectors, including technology, manufacturing, and services, to collaboratively develop a group cognitive map and an interpretive model that guide resilience‐building efforts. The findings highlight a hierarchy of resilience determinants, offering actionable insights for SME managers to structure and implement targeted resilience‐enhancing strategies. The originality of this study lies in its dynamic decision‐support approach, tailored specifically for SMEs, which is particularly relevant in today's volatile, post‐pandemic business environment. The results provide a significant contribution to the field by addressing critical gaps in SME resilience research and offering practical tools for organizational planning.

Effect of Working Capital Management, Operational Efficiency, and Profitability on Financial Sustainability of SMEs

This study examines the effects of working capital management (WCM), operational efficiency (OE), and profitability on the financial sustainability (FS) of small and medium-sized enterprises (SMEs). Utilizing quantitative analysis and data collected from a diverse sample of SMEs, the research highlights the significant relationships between these variables. The results indicate that effective WCM and enhanced OE positively influence profitability, which, in turn, plays a crucial mediating role in promoting financial sustainability. This study contributes to the existing literature by demonstrating how integrated management strategies that prioritize working capital practices and operational improvements can enhance the financial health of SMEs. The findings provide practical implications for SME owners and managers, suggesting that a focus on these critical factors is essential for achieving long-term financial viability. Future research directions are proposed to explore sector-specific impacts and longitudinal effects on financial sustainability.

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.