Journal ArticleDOI
Strategic flexibility in small firms
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In this article , the authors argue that SMEs need to overcome resource disadvantages, leverage structural advantages, and develop new relational advantages in collaboration with partners to enhance their strategic flexibility for gaining competitive advantage.Abstract:
Contrasted with their larger counterparts, small firms are disadvantaged due to their limited resources, economies of scale, and managerial expertise. However, the ability to respond and adapt promptly in today’s rapidly changing environment provides SMEs advantage over larger firms. In this paper, we argue that SMEs need to overcome resource disadvantages, leverage structural advantages, and develop new relational advantages in collaboration with partners to enhance their strategic flexibility for gaining competitive advantage. Specifically, we conjecture that building proactively strategic relationships with suppliers and logistics providers in addition to improving information quality could allow these entities to develop strategic flexibility and improve performance. We use structural equation modeling to assess the proposed model on a sample of 75 small firms located in India. read more
Citations
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References
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Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision-making
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Journal ArticleDOI
The internationalization and performance of SMEs
Jane W. Lu,Paul W. Beamish +1 more
TL;DR: It is found that alliances with partners with local knowledge can be an effective strategy to overcome the deficiencies SMEs face in resources and capabilities, when they expand into international markets.
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The impact of supply chain management practices on competitive advantage and organizational performance
TL;DR: In this paper, the authors conceptualized and developed five dimensions of SCM practice (strategic supplier partnership, customer relationship, level of information sharing, quality information sharing and postponement) and tested the relationships between SCM practices, competitive advantage, and organizational performance.
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