European Journal of Management Issues (Jun 2024)
Small, medium, and micro-sized enterprises strategies for dealing with contemporary management issues in post-COVID: A conceptual framework
Abstract
Purpose: Small, medium, and micro-sized enterprises (SMMEs) are integral to global economies, contributing significantly to employment, innovation, and economic growth. However, the COVID-19 pandemic has posed unprecedented challenges to most SMMEs around the world, reshaping their operational landscape and management strategies. This conceptual study seeks to review the available information in detail on contemporary management issues affecting SMMEs in the post-COVID-19 era. The study further assesses the management processes adopted by SMME managers to address these issues and provide a clear and easily understandable conceptual framework for SMMEs to survive post-COVID-19 challenges. Approach: The study rigorously analysed 1,105 peer-reviewed articles from reputable databases and adopted an interpretive qualitative approach and the systematic literature review technique. In this regard, a thematic analysis identified the recurring themes, thereby forming the basis for the conceptual framework. Findings: The identified themes include financial disruptions, shifts in consumer behaviour, resilience and survival, rapid digital transformation, and remote work dynamics. A conceptual framework was developed, emphasising emotional intelligence, customer-centric adaptations, innovation risk management, financial resilience, technological innovation, adaptive leadership, sustainable business models, and remote workforce management. Policy Implications: The policy implication for these findings is that governments should develop targeted interventions, fostering a resilient environment for SMMEs. Collaboration among stakeholders is essential for creating sustainable solutions, ensuring that SMMEs continue their vital contributions to economic growth and innovation.
