Title: Challenges and opportunities for SMEs competing in the global market: a literature review for future research

Authors: Ryan L. Skiver; Paul Hong; Chang Won Lee

Addresses: Department of Marketing and Supply Chain Management, College of Business, The University of Wisconsin Oshkosh, 800 Algoma Blvd., Oshkosh, Wisconsin 54901, USA ' Department of Information, Operations and Technology Management, College of Business Administration, The University of Toledo, 2801 W. Bancroft St., Toledo, Ohio 43606, USA ' Department of Operations and Service Management, School of Business, Hanyang University, 222, Wangsimni-ro, Seongdong-gu, Seoul, South Korea

Abstract: While successful performance of large firms has been noted in literature, challenges and opportunities of small and medium enterprises (SMEs) for the global market have not been well examined. The aim of this study is to present a literature review which defines the expanding opportunities and growing challenges for SMEs in the global market. Specific research questions are: 1) What are the opportunities and challenges for SMEs in the global market?; 2) Why do SMEs take strategic orientation for modular innovation as their responses in the changing global environment?; 3) What are the specific ways that SMEs implement the expanding scope of modular innovation?; 4) What are useful performance measures for modular innovation? This literature review directs toward examining these research questions and in doing so present emerging research issues for SMEs.

Keywords: SME challenges; SME opportunities; small and medium-sized enterprises; SMEs; modular innovation; sustainable competitive advantage; global markets; literature review; strategic orientation; performance measures.

DOI: 10.1504/IJECRM.2013.060704

International Journal of Electronic Customer Relationship Management, 2013 Vol.7 No.3/4, pp.191 - 207

Published online: 26 Apr 2014 *

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