A Review On The Strategic Orientation Of SME Globalization From Emerging Economies

Abstract

Purpose: The globalization of small and medium-sized enterprises (SMEs) from emerging economies has gained significant attention in recent years. This review paper aims to analyse the determinants of strategic orientation that contribute to the globalization process of SMEs from emerging economies. The review highlights the importance of internal and external factors in shaping the strategic orientation of SMEs in emerging economies.
Methodology: It is a conceptual paper based on systematic literature review method. For this literature were extracted from Web of Science, Google Scholar, etc. On critical analysis of the current literature on global issues for SMEs to comprehend the processes by which SMEs survive and progress in the contemporary challenging business environment.
Findings: Based on a review of the literature, this paper isolates the internal (resource availability, managerial capability, and organizational culture) and external (market forces, regulatory environment, and institutional support) elements that impact SMEs’ strategic orientation and global expansion potential. Trade dumping, religious strife, international terrorism, trade wars, worldwide market rivalry, worldwide financial and economic crises, and advances in information and communication technology are all secondary influences. This study takes into account a robust theoretical examination of SMEs’ survival strategies in relation to global challenges; this is significant for understanding the stance of SMEs in emerging economies toward sustainable development and globalization in their strategic planning. Faced with a plethora of global difficulties, it is imperative to put survival plans and strategic approaches into action.
Originality: The studies on globalization factors of SMEs were less in exposure. Further, it has tried to emphasise on global challenging factors to maintain survival of SMEs.
Research Implications: The findings of this review provide valuable insights for researchers, practitioners, and policymakers interested in understanding and facilitating SME globalization.