Revisiting the Challenges Affecting SMEs Through Behavioral Approach

Abstract

The main aim of this study is to investigate the key challenges affecting small and medium enterprises (SMEs).Simultaneously, it would also discuss the background of those challenges, as well as recognizing the challenges that could be controlled by SMEs, and to propose a model.The paper is exploratory in nature and stands on secondary sources.The data are inclusive of scholarly and publicly sources.The data analysis is built on critical content analysis and theming process.Three figures are presented to demonstrate the methodology of study, the suggested model, and the linkage between the findings of study with the corresponding proposed constructs.The study recognizes six internal and external challenges that affect the SMEs.Resources management, entrepreneurial behavior, SMEs capabilities, problem solving and decision making, as well as leadership are the internal factors.The complexity of the business environment and social influence are external factors.It is found that SMEs organizational behavior is the principal domain behind these challenges.The study suggests practitioners should follow specific behavioral strategies such as entrepreneurial management (EM), transformational leadership (TL), strategic improvisation (SI), and dynamic capabilities (DCs) to overcome the different challenges and scale up their positions.As for the promoters, stimulating entrepreneurship among people and revising the training courses should be conducted to cope with market needs.

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