Market Orientation (Mo), Strategic Flexibility (Sf), And Organizational Improvisation (Oi): A Path To Business Performance

Abstract

SMEs in developed economies exceed the boundaries of developed economies due to their productivity, innovativeness, innovativeness and flexibility. SMEs in developing countries struggle to survive and thrive due to lack of implementation, traditional practices and lack of innovation. SMEs in the country face significant challenges in achieving sustainable economic growth; there are approximately 3.8 million SMEs registered in Pakistan. This study shows that MO and SF affect firm performance in competitive markets. Additionally, organizational improvisation was also considered as moderating variable in this study. The results showed that MO, SF, and OI had a significant and positive impact on the business performance of family SMEs in manufacturing industry of Pakistan. OI has a positive and negative relationship between MO, SF, and business performance. The findings of this study are useful in developing general guidelines for SME business performance for managers/owners of family SMEs, policy makers and regulators. When examining the performance of family SMEs, research should consider how the success of financing and planning will affect their longevity