Small and Medium-Sized Enterprises (SMEs): Towards a New Paradigm

Abstract

Assessing Small and Medium-sized Enterprises (SMEs) only in terms of economic indicators cannot be acceptable anymore. It is suggested that for an appropriate way to deal with SMEs there is a need for a new paradigm based on an integrated-holistic approach both in terms of the way they operate and of how they are managed. This paper presents the conceptualization of this new paradigm, supported by five principals substantiating it, as well as by the evolution of SMEs through time. In addition, the new paradigm in addressing any SME demands that a set of attributes should be taken into consideration that are related to: the advantages it exhibits; the enterprising environment within which it operates; and the greening aspects it applies. These three aspects represent different manifestations of “a whole”, the dialectic entity of an SME. The proposed paradigm clarifies that in order to achieve an effective and efficient approach to SMEs, the nature of all the factors involved in determining their successful operation have to be fully understood and taking into consideration.

Keywords: SMEs Paradigm, Integration, Holistic Approach, SMEs Attributes.

DOI: 10.7176/EJBM/13-13-03

Publication date:July 31^st 2021