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Given the positive organizational principles associated with total quality management (TQM) – customer focus, continuous improvement, and process management – one would assume TQM's application is universally beneficial across businesses. Generally, research supports that notion. However, given resource limitations and shallow management teams in small businesses, there are multiple challenges in implementing TQM in small and medium-sized enterprises (SMEs). Therefore, small business leaders should benefit from knowledge linking other management practices to TQM’s positive effect on small firm performance, which enhances these leaders' return on TQM investment.

The authors apply partial least squares structural equation modeling (PLS-SEM) to explore TQM’s effect on small business performance and how other management practices enhance that relationship. Specifically, the authors explore how a comprehensive strategic approach (CSA) – a higher-order construct consisting of strategic planning, goal setting, and financial ratio analysis – moderates the relationship between TQM and small business performance. Given the complexity of the authors' model, the application of higher-order constructs, and the exploratory nature of this work, PLS-SEM is well suited for this study.

Consistent with prior research, the authors found that TQM (also a higher-order construct, consisting of seven lower-order constructs) positively impacts small firm performance. In addition, the authors found that CSA positively moderates the relationship between TQM and financial performance.

TQM’s effect on small business performance is enhanced when leaders implement a CSA. In other words, when small business leaders strategically plan, set goals, and analyze financial ratios, TQM's positive effect on firm performance is enhanced. This finding provides business leaders insights for how to maximize the TQM investment return.

Despite the increasing numbers of research studies about social media business, the concept of social media agility is still an emerging topic that has been understudied. Therefore, the purpose of this study was to investigate the effect of social media agility on business performance by using a sample of small- and medium-sized enterprises (SMEs) in Thailand. Moreover, this study explored whether the effect of social media agility on business performance could be moderated by the characteristic of firm in terms of size, as well as the characteristic of market environment in terms of environmental dynamism.

The sample of 337 firms was obtained from the business directory using the simple random sampling method, and the model assessment was performed by using partial least squares structural equation modeling.

The data analysis indicated that social media agility positively affected the business performance of SMEs. Moreover, the moderating effect analysis showed that smaller firms tended to gain higher business performance from social media agility than larger firms. In addition, social media agility positively affected business performance to a greater extent when firms operated under low environmental dynamism than when they operated under high environmental dynamism.

Because SMEs are the key driving of economic development and economic growth, the recommendations from this study could be helpful for the government sector responsible for the competency development of SMEs to offer a development program that might enable entrepreneurial firms to develop social media marketing competencies and enhance their potential to be successful in the digital transformation.

The authors found new evidence showing that the degree to which social media agility affected business performance depended significantly on the firm characteristics in terms of firm size, as well as the environmental factor in terms of environmental dynamism. These findings provide valuable contributions to the existing literature that still lacks evidence about the moderating conditions that could increase or reduce the benefits that firms obtain from social media agility.

Environmental dynamics affect all sectors, and retailing is no exception. Scholarships reveal that, in such turbulent times, entrepreneurial characteristics are essential for business. In academic research, entrepreneurial characteristics like entrepreneurial orientation (EO) and entrepreneurial competence (EC) are seldom evaluated for retailers. This study aims to decode the impact of small retailers’ EO and EC on firm business performance (BP). It also traces the mediation effect of EC in the relationship between EO and BP.

The study executed among 740 small retailers is a pioneering work to trace EO’s efficacy via EC on the retailer’s BP. The present research is a primal work in the Indian context. This work redesigns the EC scale to suit the retail context and evaluate its mediation role in the EO and BP relationship.

Examining the mediation model through structural equation modelling (SEM) adds empirical evidence to entrepreneurial value creation (EVC) theory and throws light on the indispensable qualities required for small business retailers. The outcomes of the SEM model portray that there is an association between the EO, EC and BP.

This study, though carried out methodically, it is constrained by the ensuing intricacies. The investigation was limited to the small- and medium-retailers engaged in retailing with a floor space from 500 to 5,000 square feet. All three constructs used in the study are measured using the self-reported perceptual scale, which infuses the subjectivity in the data. Exploring the EO and EC of widely dispersed retailers, examining the entrepreneurial character of large-format independent retailers and evaluating financial performance measures through retailers will add value to the study in future.

The study verified the central role of EC in the intangible resource-reward relationship. Among the five pillars of EVC theory, the role of intention and external finance are not considered in this work. The present work explored the EO and EC of existing retailers, and hence intention is excluded. The study concentrates on small retailers, and the role of external financing is not explored. Mishra and Zachary (2014b) opined that the EVC process should be studied in different context and listed out several prepositions. Considering the role of intention and external financing and studying several prepositions spelt out in the theory in varying contexts will throw more lights on the EVC process.

Pakistan has experienced financial liberalization with rapid ups and downs in economic growth due to domestic issues during the last 2 decades. Motivated by inconclusive and conflicting time-driven findings about the performance of the business groups, this study examines the performance of business groups in Pakistan for a relatively long period from 2003 to 2018.

The study uses 3,821 firm-year observations from non-financial firms listed on the Pakistan Stock Exchange (PSX). For the estimation, pooled ordinary least squares (OLS) with industry- and year fixed effects and two-step system generalized methods of moments (GMM) are used.

The study finds that group-affiliated firms outperform independent firms in accounting performance, while underperform in market performance. The outperformance is mainly driven by medium-sized business groups, while underperformance is driven by small and large business groups. Further, the study documents that the underperformance in terms of market performance of firms affiliated with small and large groups is greater before the economic downturn, while outperformance in terms of the accounting measure of firms affiliated with medium-sized groups is greater during the economic downturn. These findings support our time-driven concerns. Overall, the authors' findings are consistent with institutional and transaction cost theories.

Business groups are important channels to reduce market inefficiencies. Business groups may enhance the affiliated firms' resources and resistance capacity through active utilization of the internal capital market, specifically when market conditions are not ideal for affiliates. However, effective utilization of internal capital markets depends on group size. Therefore, investors should deliberate on the size of business groups and diversification within business groups.

The authors extend the literature by providing fresh evidence related to the performance of business groups in the Pakistani context while accounting for the role of the size of business groups.

Guided by resource-based theory, this study unpacks the relationship between an export entrepreneurial marketing orientation (EMO) and export performance. This is undertaken by investigating quadratic effects and the moderating role of export coopetition (cooperation amongst competitors in an international arena).

Survey responses were collected from a sample of 282 smaller-sized wine producers in Italy. This empirical context was ideal, as it hosted varying degrees of the constructs within the conceptual model. Put another way, it was suitable to test the underlying issues for theorising purposes. The hypotheses and control paths were tested through a three-step hierarchical regression analysis.

An export EMO had a non-linear (inverted U-shaped) association with export performance. Furthermore, this link was positively moderated by export coopetition. With too little of an export EMO, small enterprises might struggle to create value for their overseas customers. With too much of an export EMO, owner-managers could experience harmful performance outcomes. By cooperating with appropriate industry rivals, small companies can acquire new resources, capabilities and opportunities to help them to boost their export performance. That is, export coopetition can stabilise some of the potential dangers of employing an export EMO.

The empirical findings signified that an export EMO has potential dark-sides if these firm-wide behaviours are not implemented effectively. Nevertheless, cooperating with competitors in export markets can alleviate some of these concerns. Collectively, unique insights have emerged, whereby entrepreneurs are advantaged by being strategically flexible and collaborating with appropriate key stakeholders to enhance their export performance.

Small businesses are facing evolving environments, with a resulting need to shift their traditional approaches toward new business models (BMs). Many face difficulties within this transition process due to their specific resource constraints. Based on this, incremental changes to the BM – business model transition (BMT) – are proposed as comprising a suitable framework for entrepreneurial small businesses.

This study conducts a systematic literature review (SLR) to cover a broad range of relevant literature within a final sample of 89 articles. The SLR method was chosen to integrate research in a systematic, transparent and reproducible way. For qualitative analysis and framework derivation, the study draws on a thematic ontological analysis.

The broad search criteria, focusing on BM, incremental BM changes and small businesses, pave the way for a comprehensive overview of multiple research streams of BM concepts (e.g. digital and sustainable BM). The main contribution of this work is the resulting holistic BMT framework, comprising the main parts BM innovation, external antecedents (transition of environment, entrepreneurial ecosystem), internal antecedents (dynamic capabilities, entrepreneurial orientation, resilience, strategy) and output (firm performance).

The framework provides guidance for entrepreneurs and entrepreneurial managers to implement and complete BMT in small businesses. Furthermore, the presented paper sets a future research agenda focusing on small businesses structured according to the derived framework.

This study provides the first SLR of existing BM concepts with a small-business specific perspective on BMI and a focus on various incremental BM changes.

The purpose of this study is to develop a financial performance measurement model for real estate business.

The study uses balanced scorecard (BSC) proposed by Kaplan and Norton (1996) as a theoretical support. The study, being exploratory in nature, uses survey method to collect data on several dimensions of BSC as well as on other performance measures used by real estate businesses in India. The survey data collected is analyzed using exploratory factor analysis (EFA) to explore the model constructs. This is followed by building an integrated conceptual model for measuring the financial performance of a real estate business. The model is tested using partial least squares structural equation modeling (PLS-SEM).

The study finds that the financial performance of the real estate business revolves around customer satisfaction, employee satisfaction and external networks. The right alignment of these components lead to superior financial performance. It also provides a competitive advantage to the real estate business. These three components (customer satisfaction, employee satisfaction and external networks) have direct and indirect influences on the financial performance of real estate business.

A small sample size (78 respondents), as well as the respondent’s geographical concentration in India, are the limitations of the study. Hence, generalization of findings may be difficult until the findings are validated across the globe.

The conceptual performance measurement model suggested in this research provides an effective tool to plan and strategize to achieve superior financial performance, particularly for stakeholders in the real estate business.

To the best of the authors’ knowledge and belief, this is the first attempt to develop a comprehensive financial performance measurement model for real estate business and test it using EFA and PLS-SEM.

The development of family-based microenterprises has attracted the attention of regulators, microfinance institutions and other stakeholders in either developing or least developed countries. In the finance literature, several studies have examined the determinants of the family-based microenterprises development; however, there are several venues that need to be examined. The study aims to explain the economic profit of microenterprises from resource-based theory and human capital perspectives.

Based on critical review and theoretical grounding, this study proposes a conceptual framework, which bridges intangible resources with economic growth of microenterprises.

After reviewing previous studies and based on the underpinning theoretical framework, the study finds that human capital is one of the variables that has received a little attention and yet to be examined as a moderating role. Based on the human capital theorist, individual's competencies help enterprises to perform better in business, as enterprises that possess competencies and capabilities are more likely to have higher levels of growth and profitability.

This finding provides useful implications for the stakeholders and policymakers and contributes in the future literature.

Based on critical review and theoretical grounding, this study proposes a conceptual framework, which bridges intangible resources with economic growth of microenterprises.

The purpose of this study is to examine various key aspects associated with entrepreneurs’ behaviour following a long-term crisis. Specifically, the study compares the perceptions of female and male entrepreneurs operating in Cyprus and Greece concerning success factors and firm performance in the aftermath of the global financial crisis. Conceptually, the study considers the organisational adaptation literature (Miles and Snow’s typology).

The views of female and male micro and small firm owners-managers operating in Greece and Cyprus, a total of 406, were gathered through a questionnaire. To analyse the quantitative data, independent samples t-test and exploratory factor analysis were applied.

Participants’ responses reveal similar levels of perceived importance between genders regarding adaptive measures and strategies to confront a long-term crisis, as well as perceived firm performance. Nevertheless, exploratory factor analysis highlights differences in how male/female entrepreneurs perceive actions that, as in the case of financial management, can safeguard the immediate outlook of the firm.

While scholarly discourses on gender and entrepreneurship abound, important knowledge gaps still exist, for instance, in entrepreneurs’ problem-solving strategies adopted by female and male entrepreneurs following crises. In addressing this scholarly gap cross-culturally, that is, drawing on cross-national data (Cyprus and Greece); the present study makes an important contribution. Empirically, the study ascertains similar entrepreneurial behavioural characteristics between female-male entrepreneurs. Theoretically, the study validates Miles and Snow’s typology and develops a theoretical framework linking the typology and dimensions emerging from the empirical findings.

The purpose of this paper is to investigate the influence of entrepreneurs’ social competence (SC) on small and medium-sized enterprise (SME) performance.

Primary data of 250 manufacturing SMEs were collected through a survey method. The influence of SC on performance was tested using structural equation modelling (SEM).

Overall, the findings suggest that SC dimensions have a positive influence on SME performance in terms of nonfinancial perspective. More clearly, the findings show that out of five dimensions of SC, which include social adaptability, social perception, social expressiveness, persuasiveness and impression management; social perception, persuasiveness and impression management have direct effect on customer perspective; persuasiveness, social expressiveness and social adaptability have a direct influence on internal business processes and social adaptability, social perception, impression management and social expressiveness are directly related with learning and growth. Contrary to expectations though, social perception and social adaptability were significantly and negatively associated with internal business processes and customer perspective, respectively, while there was no significant correlation between social expressiveness, persuasiveness and impression management with customer perspective, business processes and learning and growth in that order.

The current study affirms that SMEs managed by entrepreneurs and managers who possess high levels of SC, may have a better performance compared to those operated by entrepreneurs with low levels of SC. This justifies a need for SME entrepreneurs and managers to work hard to improve their SC capabilities.

This study is pertinent and unique because, it extensively examines each of the five dimensions of SC in relation to nonfinancial indicators of SME performance. Besides, the study also provides additional evidence of the impact of SC on SME performance by suggesting that entrepreneurs who are socially competent are more likely to own highly successful ventures.