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The Role of Adaptive Management in the Resilience and Growth of Small and Medium Size Enterprises

Author

Listed:
  • Paul Saah

    (Department of Quality and Operations Management, Faculty of Engineering and the Built Environment, University of Johannesburg, South Africa.)

  • Charles Mbohwa

    (Department of Quality and Operations Management, Faculty of Engineering and the Built Environment, University of Johannesburg, South Africa.)

  • Nelson Sizwe Madonsela

    (Department of Quality and Operations Management, Faculty of Engineering and the Built Environment, University of Johannesburg, South Africa.)

Abstract

Small and Medium Size Enterprises (SMEs) are the backbone, and the main stimulus of development, and studies demonstrate that these businesses play an essential role in the economic growth of the global economy. Adaptive management is a crucial approach for enhancing the resilience and growth of SMEs in today's dynamic and unpredictable business environment. The purpose of this study is to determine the role of adaptive management in the resilience and growth of SMEs. A qualitative technique was employed as the research method in this study to collect and analyze data to ascertain the role of adaptive management in the resilience and growth of SMEs. The population of this study constitutes SME owners and managers within South Africa and a straightforward random selection process was used to choose the 20 of them to participate in the study. Atlas ti was used to code and analyze transcripts, produce network diagrams, and visualize data. It is evident from the findings of this study that poor management in an enterprise would inevitably result in the failure of the business. This implies that SMEs that embrace adaptive management principles demonstrate a higher capacity to navigate through uncertainties and capitalize on emerging opportunities, thus fostering resilience and sustainable growth. This suggests that for small businesses to succeed, SME owners and the government should collaborate to find solutions to most managerial problems faced by businesses so that the enterprises can grow and be sustainable.

Suggested Citation

  • Paul Saah & Charles Mbohwa & Nelson Sizwe Madonsela, 2024. "The Role of Adaptive Management in the Resilience and Growth of Small and Medium Size Enterprises," International Review of Management and Marketing, Econjournals, vol. 14(1), pages 1-10, January.
    • Handle: RePEc:eco:journ3:2024-01-1
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    References listed on IDEAS

    as
    1. Haradhan Kumar MOHAJAN, 2018. "Qualitative research methodology in social sciences and related subjects," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 7(1), pages 23-48, March.
    2. Mr. Serhan Cevik & Guohua Huang, 2018. "How to Manage the Fiscal Costs of Natural Disasters," IMF Fiscal Affairs Department 2018/003, International Monetary Fund.
    3. Serhan Cevik & Guohua Huang, 2018. "How to Manage the Fiscal Costs of Natural Disasters," IMF Fiscal Affairs Department HTN 18/03, International Monetary Fund.
    4. Zulfiqar Ali & Hongyi Sun & Murad Ali, 2017. "The Impact of Managerial and Adaptive Capabilities to Stimulate Organizational Innovation in SMEs: A Complementary PLS–SEM Approach," Sustainability, MDPI, vol. 9(12), pages 1-23, November.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Onan Marakali Siregar & Hatta Ridho & Muhammad Arifin Nasution & Muhammad Dharma Tuah Putra Nasution, 2024. "Knowledge Dynamics and Absorptive Capacity: Shaping Innovation Performance in the Service Business of Small and Medium-Sized Enterprises," International Review of Management and Marketing, Econjournals, vol. 14(5), pages 53-66, September.

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    More about this item

    Keywords

    Adaptive; Management; Economic Growth; SMEs; Enterprise; Resilience;
    All these keywords.

    JEL classification:

    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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