Article Sidebar

Download
Download Article

Main Article Content

Abstract

This research investigates management strategies facilitating Small and Medium-sized Enterprises (SMEs) growth within communities. The study aims to explore key factors and mechanisms enabling SMEs to overcome challenges and achieve sustainable growth. Adopting a quantitative descriptive approach, data was collected through surveys, interviews, and statistical analysis. Thematic analysis revealed several crucial insights. Firstly, innovation adoption, particularly open innovation, emerged as a critical strategy for SME competitiveness and success. Secondly, strategic partnerships play a pivotal role in accessing resources and markets, enhancing SMEs' international presence. Thirdly, human resource management practices, including talent management and digital HR, are essential for enhancing organizational performance and adaptability. Moreover, the COVID-19 pandemic accelerated digitalization among SMEs, emphasizing the importance of resilience planning. Additionally, community engagement remains fundamental, enabling SMEs to build trust, legitimacy, and social capital. The research contributes to understanding the complex dynamics of SME growth within communities, offering actionable insights for policymakers, business owners, and community stakeholders.

Keywords

SMEs Management Strategies Community Engagement Resource Management

Article Details

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

How to Cite
Rosadi, N. (2024). From Service to Success: Management Strategies in Facilitating SME Growth within Communities. Golden Ratio of Community Services and Dedication, 4(1), 37–45. https://doi.org/10.52970/grcsd.v4i1.595
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX

References

  1. Acs, Z. J., & Audretsch, D. B. (2010). Entrepreneurship and economic growth. The Oxford handbook of entrepreneurship, 1, 1-55. https://doi.org/10.1093/oxfordhb/9780199596515.001.0001
  2. Arenius, P., & De Clercq, D. (2005). A network-based approach on opportunity recognition. Small Business Economics, 24(3), 249-265. https://doi.org/10.1007/s11187-005-1984-y
  3. Autio, E., Nambisan, S., Thomas, L. D. W., & Wright, M. (2022). Digital platforms and the future of entrepreneurship ecosystems. Journal of Business Venturing, 37(2), 106191. https://doi.org/10.1016/j.jbusvent.2021.106191
  4. Baptista, R., Karaoz, M., & Mendonça, J. (2020). Digital transformation of SMEs in response to the COVID-19 pandemic. Industrial Marketing Management, 88, 225-229. https://doi.org/10.1016/j.indmarman.2020.04.021
  5. Becker, B. E. (1993). Human resource management: A general manager's perspective. Human Resource Management, 32(1-2), 33-45. https://doi.org/10.1002/hrm.3930320105
  6. Bouncken, R. B., Lentes, L., & Omanga, J. W. (2021). How digital transformation alters business models and co-creation in times of the COVID-19 pandemic. Journal of Business Research, 122, 889-905. https://doi.org/10.1016/j.jbusres.2020.12.014
  7. Brush, C. G., de Bruin, A., & Welter, F. (Eds.). (2018). A research agenda for entrepreneurship and context. Edward Elgar Publishing. https://doi.org/10.4337/9781786433328
  8. Chesbrough, H. (2003). Open innovation: The new imperative for creating and profiting from technology. Harvard Business Press.
  9. Chesbrough, H. (2003). Open innovation: The new imperative for creating and profiting from technology. Harvard Business Press.
  10. Cucculelli, M., & Peruzzi, V. (2021). The differential impact of COVID-19 on Italian manufacturing firms: A counterfactual analysis of SMEs and large companies. Industrial and Corporate Change, 30(5), 1551-1577. https://doi.org/10.1093/icc/dtab011
  11. Gomes, E., Barnes, B. R., Mahmood, R., & Alves, H. (2019). The role of social networks in the internationalization process of SMEs: Evidence from South Africa and Brazil. Journal of Business Research, 97, 245-257. https://doi.org/10.1016/j.jbusres.2018.12.015
  12. Guerrero, M., Urbano, D., Cunningham, J. A., & Organ, D. (2023). Social capital and entrepreneurship: A systematic review and research agenda. Journal of Business Research, 148, 398-415. https://doi.org/10.1016/j.jbusres.2022.12.056
  13. Guler, I., & Nerkar, A. (2021). Alliances, partnerships, and small firm performance: A review and synthesis. Journal of Management, 47(6), 1456-1486. https://doi.org/10.1177/0149206319897553
  14. Hart, S. L. (1995). A natural-resource-based view of the firm. Academy of Management Review, 20(4), 986-1014. https://doi.org/10.2307/258963
  15. Hart, S. L. (1995). A natural-resource-based view of the firm. Academy of Management Review, 20(4), 986-1014. https://doi.org/10.5465/amr.1995.9512280037
  16. Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2001). Strategic management: Competitiveness and globalization. South-Western Cengage Learning.
  17. Huang, W., & Wang, E. (2022). Government intervention and SME financing: Evidence from China. Journal of Corporate Finance, 72, 101899. https://doi.org/10.1016/j.jcorpfin.2022.101899
  18. Isenberg, D. J. (2011). The entrepreneurship ecosystem strategy as a new paradigm for economic policy: Principles for cultivating entrepreneurship. Babson Entrepreneurship Ecosystem Project.
  19. Jackson, S. (2021). Leadership and strategic management in small businesses: The case of rural tourism. Tourism Management Perspectives, 38, 100844. https://doi.org/10.1016/j.tmp.2021.100844
  20. Jiang, Y., Che, Y., & Wang, Y. (2022). Human resource management in SMEs: A systematic literature review. Human Resource Management Review, 32(1), 100788. https://doi.org/10.1016/j.hrmr.2021.100788
  21. Jin, Y., & Lin, X. (2023). Ecosystem partnership and innovation capability of small and medium-sized enterprises: A moderated mediation model. Journal of Business Research, 153, 146-158. https://doi.org/10.1016/j.jbusres.2022.12.093
  22. Kutllovci, E. (2013). Strategic planning in small and medium enterprises (SMEs): Implementation and outcomes. International Journal of Business and Management, 8(7), 1-14. https://doi.org/10.5539/ijbm.v8n7p1
  23. Li, Y., & Huang, Q. (2020). User innovation and firm performance: Evidence from China's SMEs. Journal of Business Research, 110, 11-23. https://doi.org/10.1016/j.jbusres.2019.12.027
  24. Li, Y., Wu, G., & Song, Y. (2021). Organizational culture and innovation in SMEs: A mediated moderation model. European Management Journal, 39(1), 151-161. https://doi.org/10.1016/j.emj.2020.12.004
  25. Liao, Y., Cao, Y., & Li, Z. (2022). Digitization and SME growth: A dynamic capability perspective. Journal of Business Research, 151, 28-41. https://doi.org/10.1016/j.jbusres.2022.12.045
  26. Mair, J., & Marti, I. (2020). Entrepreneurial ecosystems: A call to arms. Edward Elgar Publishing.
  27. Maritz, A. (2008). SME marketing initiatives for sustainable business growth. Journal of Business Venturing, 23(3), 181-197. https://doi.org/10.1016/j.jbusvent.2007.01.004
  28. Narver, J. C., & Slater, S. F. (1990). The effect of a market orientation on business profitability. Journal of Marketing, 54(4), 20-35. https://doi.org/10.1177/002224299005400403
  29. Nnamseh, B. O. (2015). Strategic management tools and SME performance in Nigeria. International Journal of Management and Humanities, 1(5), 102-116.
  30. O'Regan, N., & Ghobadian, A. (2005). SMEs and CSR: An approach to CSR in their own words. Corporate Social Responsibility and Environmental Management, 12(3), 175-186. Https://doi.org/10.1002/csr.81
  31. Parkhe, A. (1993). Strategic alliance structuring: A game theoretic and transaction cost examination of interfirm cooperation. Academy of Management Journal, 36(4), 794-829. https://doi.org/10.2307/256755
  32. Stam, E., Stam, K., & Van De Ven, A. (2014). Entrepreneurial ecosystems and regional policy: A sympathetic critique. European Planning Studies, 22(9), 2219-2241. https://doi.org/10.1080/09654313.2013.799172
  33. von Hippel, E. (2017). Democratizing innovation. MIT Press.
  34. Wang, C. L., & Ahmed, P. K. (2023). Market sensing capabilities and SME performance: The mediating role of strategic agility. Journal of Business Research, 159, 45-56. https://doi.org/10.1016/j.jbusres.2022.12.041
  35. Zhao, M., Han, Y., & Wu, S. (2023). Talent management and SME performance: A configurational perspective. Journal of Business Research, 164, 660-669. https://doi.org/10.1016/j.jbusres.2022.12.095

Similar Articles

<< < 1 2 3 4 5 

You may also start an advanced similarity search for this article.