The intervention of strategic innovation practices in between regulations and sustainable business growth: a holistic perspective for Malaysian SMEs
World Journal of Entrepreneurship, Management and Sustainable Development
ISSN: 2042-5961
Article publication date: 20 January 2021
Issue publication date: 26 July 2021
Abstract
Purpose
SMEs that manage more sustainability focused initiatives into their core business strategy can possibly benefit from lower expenses, reduced threats and new business opportunities, but in Malaysia most of the SMEs are still far off in terms of adapting to a sustainable business growth outline from a holistic point of view. Hence, this study aims to serve deeper understanding about a strategic innovation focused sustainable growth model on basis of multidisciplinary QBL-QHIM theoretical perspectives where strategic innovation practices intervene in between desired growth and government support (regulations).
Design/methodology/approach
This conceptual investigation embraces a newly emerged concern of sustainable business growth in SMEs, considering ranges of literature reviews from the disciplines of management and entrepreneurship. The study also systematically explores the concepts of regulations, strategic innovation practices on basis of QBL and QHIM theories to adjust the sustainable business growth model from a holistic angle.
Findings
The outcomes show that multidisciplinary QBL-QHIM conjunction within the interrelationships of the selected constructs holds the potential for innovation focused business growth in a more sustainable, comprehensive and holistic manner. The study also detects that exploitative-explorative innovation practices can possibly mediate in between suitable regulations and sustainable business growth of SMEs, considering supportive external environment.
Research limitations/implications
Researches are encouraged to test the proposed model.
Practical implications
The study indicates a conceptual configuration for policy makers as well as entrepreneurs to ensure sustainable business growth for SMEs. The outcomes of the study also provide useful direction on decision-making process of owner or manager considering social, economic, environmental and spiritual aspects of daily operations.
Social implications
The conceptual model may possibly able to generate more social values, considering a holistic angle into business activities.
Originality/value
The conceptualization is a unique attempt, considering developing regions to extend the current understanding of strategic innovation focused sustainable growth process of SMEs from a holistic angle.
Keywords
Acknowledgements
This paper and the research behind it would not have been possible without the exceptional support of my mother, Hosna Ara Begum. Her enthusiasm, knowledge and exacting attention to detail have been an inspiration and kept my work on track.
Citation
Islam, A. and Wahab, S.A. (2021), "The intervention of strategic innovation practices in between regulations and sustainable business growth: a holistic perspective for Malaysian SMEs", World Journal of Entrepreneurship, Management and Sustainable Development, Vol. 17 No. 3, pp. 396-421. https://doi.org/10.1108/WJEMSD-04-2020-0035
Publisher
:Emerald Publishing Limited
Copyright © 2020, Emerald Publishing Limited