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

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.