Title: SME operational bid through adversity and turbulent economic environment: resilience through dynamic capabilities

Authors: Joseph Awali Sebuwufu; Binod Timilsina

Addresses: University of Vaasa, Wolffintie 34, FI-65200 Vaasa, Finland ' University of Vaasa, Wolffintie 34, FI-65200 Vaasa, Finland

Abstract: The existing literature provides limited evidence on “How do small and medium-sized enterprises (SMEs) grow, develop, and sustain their operations in the long-run?” within the scope of this question, this conceptual paper suggests a holistic hypothetical construct of a dynamic business model (DBM). The DBM aims to enhance the competitiveness and resilience of SMEs by strategically capturing value to foster agility. Management by values (MBVs), analytical hierarchy process (AHP) and sand cone model (SCM) provide the theoretical foundation to the suggested DBM. The study extends the literature on SMEs, business model innovation, and suggests a fundamental lean plan for balancing efficiency and flexibility, as a managerial implication.

Keywords: business model; innovation; strategic management; dynamic capabilities; small and medium-sized enterprises; SMEs; resilience.

DOI: 10.1504/IJIL.2024.139690

International Journal of Innovation and Learning, 2024 Vol.36 No.1, pp.53 - 71

Received: 24 Mar 2023
Accepted: 27 Jun 2023
Published online: 05 Jul 2024 *

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