Management Strategies For Sustainable Growth In Asian Entrepreneurial Firms
DOI:
https://doi.org/10.69980/msjjyr13Keywords:
Sustainable growth, Strategic management, Entrepreneurial firms, Innovation, AsiaAbstract
The role of strategic management practices in sound growth in Asian entrepreneurial firms. Based on cross-country data on the World Bank Enterprise Survey (2011-2020), the study analyses the relationship between innovation orientation, operational efficiency, export engagement, financial constraints, and the age of the firm and employment growth as a measure of sustainable performance. Following the cleaning and restructuring of the dataset into a panel form, regression analysis using robust standard errors was done to determine the associations between the strategic variables and growth results. The results have shown that innovation has a significant positive impact on sustainable growth, whereas financial constraint and the age of the firm harm employment growth. Once other strategic factors are held constant, export participation and capacity utilisation exhibit few direct effects. Such findings imply that innovation-based approaches and financial availability are the key factors influencing the achievement of sustainable growth of entrepreneurial companies as opposed to individual operational practices. The research also provides empirical data on various Asian economies, which adds to the sustainability and strategic management literature in the context of individual countries. The results have practical implications for policymakers and managers who need to develop a robust entrepreneurial ecosystem that can balance the goal of economic growth and sustainability.
References
1.Abbas, M. H., & Bulut, M. (2024). Navigating the landscape of sustainable entrepreneurship research: a systematic literature review. Discover Sustainability, 5(1), 171.
2.Baldassarre, B., Calabretta, G., Bocken, N. M. P., & Jaskiewicz, T. (2017). Bridging sustainable business model innovation and user-driven innovation: A process for sustainable value proposition design. Journal of cleaner production, 147, 175-186.
3.Bocken, N. M., De Pauw, I., Bakker, C., & Van Der Grinten, B. (2016). Product design and business model strategies for a circular economy. Journal of industrial and production engineering, 33(5), 308-320.
4.Bonfanti, A., De Crescenzo, V., Simeoni, F., & Adaui, C. R. L. (2024). Convergences and divergences in sustainable entrepreneurship and social entrepreneurship research: A systematic review and research agenda. Journal of Business Research, 170, 114336.
5.Caputo, A., Pizzi, S., & Santini, E. (2024). Sustainability and SMEs: Opening the black box. Journal of Management & Organization, 30(3), 413-420.
6.Chaudhary, S., Kaur, P., Alofaysan, H., Halberstadt, J., & Dhir, A. (2023). Connecting the dots? Entrepreneurial ecosystems and sustainable entrepreneurship as pathways to sustainability. Business Strategy and the Environment, 32(8), 5935-5951.
7.Criado-Gomis, A., Iniesta-Bonillo, M. Á., & Cervera-Taulet, A. (2018). Sustainable entrepreneurial orientation within an intrapreneurial context: effects on business performance. International Entrepreneurship and Management Journal, 14(2), 295-308.
8.Denicolai, S., Zucchella, A., & Magnani, G. (2021). Internationalization, digitalization, and sustainability: Are SMEs ready? A survey on synergies and substituting effects among growth paths. Technological Forecasting and Social Change, 166, 120650.
9.Gast, J., Gundolf, K., & Cesinger, B. (2017). Doing business in a green way: A systematic review of the ecological sustainability entrepreneurship literature and future research directions. Journal of cleaner production, 147, 44-56.
10.Geissdoerfer, M., Pieroni, M. P., Pigosso, D. C., & Soufani, K. (2020). Circular business models: A review. Journal of cleaner production, 277, 123741.
11.Geissdoerfer, M., Vladimirova, D., & Evans, S. (2018). Sustainable business model innovation: A review. Journal of cleaner production, 198, 401-416.
12.Hoogendoorn, B., Van der Zwan, P., & Thurik, R. (2019). Sustainable entrepreneurship: The role of perceived barriers and risk. Journal of business ethics, 157(4), 1133-1154.
13.Jansson, J., Nilsson, J., Modig, F., & Hed Vall, G. (2017). Commitment to sustainability in small and medium‐sized enterprises: The influence of strategic orientations and management values. Business strategy and the environment, 26(1), 69-83.
14.Jeanpierre, C. (2022). World Bank enterprise survey 2011–2020 [Data set]. Kaggle. https://www.kaggle.com/datasets/cjeanpierre/wolrd-bank-enterprise-survey-20112020
15.Le, T. T. (2023). Corporate social responsibility and SMEs' performance: mediating role of corporate image, corporate reputation and customer loyalty. International Journal of Emerging Markets, 18(10), 4565-4590.
16.Moya-Clemente, I., Ribes-Giner, G., & Pantoja-Díaz, O. (2020). Identifying environmental and economic development factors in sustainable entrepreneurship over time by partial least squares (PLS). PloS one, 15(9), e0238462.
17.Pabst, S., Wayand, M., & Mohnen, A. (2021). Coordinating contributions in crowdfunding for sustainable entrepreneurship. Journal of Cleaner Production, 319, 128677.
18.Proença, S., & Soukiazis, E. (2023). The process of sustainable entrepreneurship: a multi-country analysis. Environment, Development and Sustainability, 25(10), 10995-11010.
19.Reuther, K., Dahle, Y., Schmidt, C., & Schösser, F. (2023). Motivational facets of sustainable entrepreneurship: A systematic review and future research agenda. Sustainability, 15(3), 2272.
20.Salvador, R., Søberg, P. V., Jørgensen, M. S., Schmidt-Kallesøe, L. L., & Larsen, S. B. (2023). Explaining sustainability performance and maturity in SMEs–Learnings from a 100-participant sustainability innovation project. Journal of Cleaner Production, 419, 138248.
21.Soto-Acosta, P., Cismaru, D. M., Vătămănescu, E. M., & Ciochină, R. S. (2016). Sustainable entrepreneurship in SMEs: A business performance perspective. Sustainability, 8(4), 342.
22.Thananusak, T. (2019). Science mapping of the knowledge base on sustainable entrepreneurship, 1996–2019. Sustainability, 11(13), 3565.
23.Thelken, H. N., & de Jong, G. (2020). The impact of values and future orientation on intention formation within sustainable entrepreneurship. Journal of Cleaner Production, 266, 122052.
24.Theodoraki, C., Dana, L. P., & Caputo, A. (2022). Building sustainable entrepreneurial ecosystems: A holistic approach. Journal of Business Research, 140, 346-360.
25.Yin, C., Salmador, M. P., Li, D., & Lloria, M. B. (2022). Green entrepreneurship and SME performance: The moderating effect of firm age. International Entrepreneurship and Management Journal, 18(1), 255-275.
