Business Models Construction at SMEs Level from the Point of View of Strategic Management

Discussion of new approaches and instruments for strategic management and organisation of small- and medium-sized enterprises (SMEs) is now routine among scholars and policymakers. Despite an expanding set of literature on business modeling, there is little acknowledgment of the SMEs performance in the context of strategic development. This paper aims to detect the business model factors that increase SMEs performance. Thus, we reveal how decision-makers perceive the strategic management process and manage strategic risks within it. To achieve this goal, the asymmetric configu-rational theorizing and methodology are applied. The research brings into perspective that SME owners and managers have to pay more attention to managerial ties for supporting business model innovation. Developing a dynamic view of business model innovation is also important for understanding of dynamics in the open innovation networks. This challenge therefore calls for further studies on how strategic management should feature in the development of SMEs.