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Determinants of Small Business Success: A Harmonization Between Resources and Strategies

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From Industry 4.0 to Industry 5.0

Part of the book series: Studies in Systems, Decision and Control ((SSDC,volume 470))

Abstract

This study proposes a conceptual model to address the condemnation concerning organisation valuable resources and its measurement as expounded by resource-based view. Needless to say, an organisation strategic resources play a crucial role in competitive advantage. Notwithstanding, the growing number of small scale businesses caused raging competition among smaller firms. Thus, small scale businesses have to preserve their existence and expand their activities. Since, the role played by the small-scale businesses in job creation, income generation and therefore poverty alleviation has been recognized worldwide, we propose a conceptual model and measuring scale for organisation valuable resources so as to make it more considerable to entrepreneurs to do better than others.. A special feature of this paper lies in its attempt to propose a new measuring scale for organisation valuable resources. Resources valuable attribute is then served to analyse the sustainable success factors of SMEs. In conclusion, we managed to unravel how the concept of organisation valuable resources can be used as strategies to determine whether or not a business entity is successful. The pre-requisite, however, is that both, the resources and strategies, have to co-exist harmoniously.

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Notes

  1. 1.

    We note, according to [37] the attribute of resources are measured by knowledge and beliefs of an entrepreneur or manager.

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Authors and Affiliations

  1. College of Business Administration, Prince Mohammad Bin Fahd University, Al-Khobar, Saudi Arabia

    Noor Ul Hadi, Sotirios Zygiaris, Ghayur Ahmad, Malik Fawaz Saleh & Muhammad Muazzem Hossain

  2. Universiti Kuala Lumpur Business School, Kuala Lumpur, Malaysia

    Naziruddin Abdullah

Authors
  1. Noor Ul Hadi
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  2. Naziruddin Abdullah
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  3. Sotirios Zygiaris
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  4. Ghayur Ahmad
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  5. Malik Fawaz Saleh
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  6. Muhammad Muazzem Hossain
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Corresponding author

Correspondence to Noor Ul Hadi .

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Editors and Affiliations

  1. College of Business and Finance, Ahlia University, Manama, Bahrain

    Allam Hamdan

  2. Department of Business Studies, Box Hill College Kuwait, Kuwait, Kuwait

    Arezou Harraf

  3. Ahlia University, Arad, Bahrain

    Amina Buallay

  4. University of Jammu, Jammu, Jammu and Kashmir, India

    Pallvi Arora

  5. Wichita State University, Wichita, KS, USA

    Hala Alsabatin

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Hadi, N.U., Abdullah, N., Zygiaris, S., Ahmad, G., Saleh, M.F., Hossain, M.M. (2023). Determinants of Small Business Success: A Harmonization Between Resources and Strategies. In: Hamdan, A., Harraf, A., Buallay, A., Arora, P., Alsabatin, H. (eds) From Industry 4.0 to Industry 5.0. Studies in Systems, Decision and Control, vol 470. Springer, Cham. https://doi.org/10.1007/978-3-031-28314-7_14

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