Sustaining SMEs through Business Model Innovation


Lim, Chin Kuan and Ong, Jeen Wei and Norhashim, Mariati (2021) Sustaining SMEs through Business Model Innovation. In: 2nd Post Graduate Social Science Colloquium Proceedings 2021, 8-9 June 2021, Cyberjaya, Malaysia. (Submitted)

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Small and medium enterprises (SMEs) contribute to 98.5 percent of business establishments, create 38.9 percent of gross domestic product (GDP) and employ 48.4 percent of workers in Malaysia. Nonetheless, Department of statistics Malaysia, . SMEs are vulnerable to the external environment. The implementation of movement control in Malaysia has forced more than 30,000 SMEs to cease their operations. FMT Reporters Covid-19 forces closure of 32,000 SMEs, Parliament told ,20 Nov 2020 , Thus, there is a need to relook into the survivability of SMEs. Innovation has been studied as a key factor for sustainable financial performance. This study suggests a more comprehensive measure for innovation through the business model innovation. Business model innovation (BMI) creates new values that changes both on organization value proposition to customer under its business modal. There are three main measurement which are value creation innovation, value proposition innovation that seek for new ways to increase customer retention and value capture innovation that let firms capture new revenue and cost structure enable the firm outperform competitor. BMI are been developed to be comprehensive model than other innovation, with this comprehensive measure allow BMI to delivered more sustainable performance and greater profit margin than other innovation. Beside this also help to develop measures for sustainable financial performance for SMEs and also to understand the indirect impact of leans startup, BMI and dynamic capabilities on sustainable financial performance through competitive advantages.

Item Type: Conference or Workshop Item (Paper)
Additional Information: 2nd Post Graduate Social Science Colloquium Proceedings 2021 (Book of Abstract)
Uncontrolled Keywords: Small and medium enterprises (SMEs), business model innovation, SMEs survivability, dynamics capabilities, leans startup
Subjects: H Social Sciences > HF Commerce > HF5001-6182 Business
Divisions: Faculty of Management (FOM)
Depositing User: Ms Nurul Iqtiani Ahmad
Date Deposited: 19 Oct 2021 15:28
Last Modified: 19 Oct 2021 15:28


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