The Resilience of Micro and Small Enterprises in Kenya from a Strategic Perspective: A Systematic Literature Review

The Resilience of Micro and Small Enterprises in Kenya from a Strategic Perspective: A Systematic Literature Review

John Kiplangat Cheruiyot BA DipEd MSc MBA

Independent Consultant & Researcher

DOI: https://dx.doi.org/10.47772/IJRISS.2024.803228S

Received: 18 July 2024; Accepted: 27 July 2024; Published: 3 September 2024

ABSTRACT

This article noted the significant contribution of micro, small and medium enterprises (MSMEs) to the economies of both developed and developing countries and the challenges they face that adversely impact their ability to build capacity to be resilient. Most of the micro and small enterprises (MSEs) die by their fifth anniversary. This study was motivated by the dichotomy between the MSEs’ short life cycle and their valuable contribution to the economies of many countries, and the finding that there are very few studies focusing on their longer-term survival and growth. The objective of this article was to delineate the strategies that build and sustain MSE resilience over the long term; specifically identifying entrepreneurial factors that enhance resilience, and analysing strategic initiatives and strategic resources that the enterprise can leverage to enhance resilience. This article is based on a systematic review of 161 theoretical and empirical studies, that met inclusion criteria, documented in books, official government and private institutional publications, peer-reviewed articles, and conference papers, accessed from library collections, and the internet. An ecological approach was used in the analysis of the findings. The review identified personal entrepreneurial characteristics and psychological traits of the business enterprise owners/managers as the basic behavioural disposition which embeds the development and implementation of resilience strategies. The study identified strategies that are internal and external to the firm, all of which constitute the enterprise’s capability to build resilience.

Key terms: micro and small enterprise resilience, entrepreneurial orientation, entrepreneurial competence, internal capability, agility, external resource dependence, co-opetition, collaboration.

INTRODUCTION

Micro, small, and medium enterprises (MSMEs) take different definitions in various countries, with some defining them in terms of employees, others turnover, and others by both the number of employees and turnover (Sobir, 2020; Republic of Kenya, 2012). What is defined as a small enterprise in one country is a medium or large enterprise in another. In Kenya, a micro-enterprise is one with less than 10 employees and an annual turnover of up to Kenya Shillings 500,000 (ᴝUS$ 3,846, while a small enterprise is defined as one with 10 to 50 employees and a turnover of between Kenya Shillings 500,000 and 5,000,000 (ᴝUS$ 38,461) (Republic of Kenya, 2012). Medium enterprises employ between 50 to 99 people (Kenya National Bureau of Statistics, 2016). In comparison, micro and small enterprises in the UK have the same number of employees as defined in Kenya, but medium enterprises have between 50 and 249 employees (Hutton, 2024). While the focus of this article is on micro and small enterprises (MSEs), the literature review has included studies that encompass micro, small, and medium enterprises (MSMEs) and small and medium enterprises (SMEs) that capture the range of small enterprises from which this article drew valuable lessons in resilience strategies

MSMEs play a significant role in the global, as well as regional, and local economies. Worldwide they represent about 90% of businesses and contribute more than 50% of employment and up to 40% of the Gross Domestic Product (GDP) in emerging economies (World Bank, 2019; Begum et al., 2022). In ASEAN countries, MSMEs comprise between 88-99 percent of enterprises and employ 51-97 percent of the workforce (Aladin, et al., 2021). Their contribution to employment reaches 90 percent in Indonesia (Tjahjadi et al., 2019), and between 70 and 80 percent in Bangladesh where they also contribute 45% of manufacturing value and 22.4% of GDP (Hossin et al., 2022). In the United Kingdom, private sector micro and small enterprises constitute 99% of the businesses and employ 48% of the workforce (Hutton,2024); while in Sub-Saharan Africa MSMEs constitute 90% of businesses and employ about 60% of workers, and they contribute to incomes, production of goods and services, growth of economies, and creation of employment opportunities for the population (Sobir, 2020). They comprise 90% of business enterprises and account for 80% of total employment as well as 60% of GDP in Ghana (Sasu, 2023). And in Kenya, MSMEs employ 83% of the workforce, contributing up to 30% to the GDP (Kenya National Bureau of Statistics, 2020; Viffa Consult, 2019).

MSMEs utilize local resources and provide solutions to problems of poverty, insecurity, unemployment, and overpopulation (Abdin, 2019). In rural and urban areas, MSEs distribute incomes among men and women, advancing inclusive growth and development (Amoah & Amoah, 2018; Bhorat, et al., 2018). MSMEs are backbone, central, and significant to inclusive growth, employment, and basic livelihoods in developing countries (Alberti et al., 2018). However, this significance is undermined by their short life cycle, with empirical studies over the last 30 years suggesting that most micro and small enterprises die within the first five years of their existence (Nelson & Johnson, 1997; AfDB, OECD & UNDP, 2017).

In the 1990s in Kenya, for example, private informal sector entrepreneurs spontaneously created small enterprises in response to increasing unemployment, but these rarely grew to medium-sized enterprises because the owners had limited technical skills and capital, and low product quality. Additionally, the enterprises traded on and had an oversupply of similar goods in the market. The entrepreneurs had limited educational knowledge, and business experience, and were unwilling to take necessary risks to expand their businesses. Further, the enterprises operated in a less enabling policy and technology infrastructure environment (House, et al., 1990; Mwaura, 1994; Githeko, 1996; Nelson & Johnson, 1997). The failure of small enterprises has also been attributed to survival entrepreneurs, those who were pushed into business because they had no other option for work. Those who were opportunity-driven were more productive and likely to survive much longer. But even these failed before their fifth anniversary because they had less access to formal sources of external finance (AfDB, OECD & UNDP, 2017). Relatively fewer micro and small enterprises (MSEs) (with 1-19 employees) grew to be medium-sized enterprises (20-50 employees) because they had a very high death rate (Milder, 2008). This is accounted for by their risk profiles characterised by small size and limited resources, cash flow constraints, cost, and type of financing; (collateralized short-term loans that did not enable them to make decisions for expansion in the long term) as well as restricted access to techniques and processes to facilitate adaptation to risk exposure (Vandersypen, et al., 2023; Rastegar et al., 2023). Thus, most of the micro and small enterprises are not resilient enough to survive and grow beyond five years.

Resilience is a multifaceted concept that refers to the ability of a business to avoid, absorb, respond effectively to, recover from, and survive events, shocks, crises, advances in technology, fierce competition, and other environmental disturbances; and to confront, adapt, grow, benefit and sustain its operations through dynamic changes in the internal and external environment in the long term (Ates & Bititci, 2011; Christman et al., 2011; Lampel et al., 2014; Papagiannidis et al., 2020; Forliano et al., 2023 ). In the face of turbulence, which refers to the measure of the frequency of unpredictable changes affecting the ability of a business to create and sustain value (Sull, 2010), and other economic uncertainties, as well as the resource limitations of MSEs, the adverse impact and the high failure rate imply that micro and small enterprises face challenges in developing the capacity to be resilient (Rastegar et al., 2023). And yet up to 20 percent of micro and small enterprises survive beyond their fifth anniversary and others grow and sustain their businesses despite the turbulence and other disturbances in the operating environment

This article aims to glean the strategies, from older and recent literature, that have helped some MSEs in the long run to overcome their internal capacity limitations; build and strengthen the resilience that has taken them through economic downturns, competition, turbulence, and other environmental changes that adversely affect their business. The specific objectives of the article are to: 1) identify entrepreneurial behavioural characteristics that drive resilience activities; 2) analyse strategic initiatives that MSMEs undertake to build resilience capability; 3) assess strategic resources within the operating environment that a firm can leverage to strengthen its resilience capacity.

This study is justified because there have been comparatively few studies on the resilience of MSEs especially in developing countries despite their vulnerability and crucial role in the economies of those countries; and the existing studies focused on shorter-term events rather than long-term dynamic phenomena (Bhamraet al.,2011; Conz et al.,2015; Page & Söderbom, 2015; Alberti et al., 2018; Rastegar et al., 2023; Mondragon, et al., 2023; Skouloudis et al., 2023; Thekkote, R., 2023; Elia, et al., 2023; Pevkur, 2024)

For instance, slightly over a decade ago, Bhamra et al., (2011), concluded that there was little empirical evidence on how micro and small enterprises may achieve progress toward resilience. In 2015, Conz, et al., found that the resilience of micro and small enterprises was under-investigated, and the results were inconclusive. In the same year, Page and Söderbom, (2015) found that studies on business firm resilience were limited despite the myriad and ongoing challenges faced by micro and small enterprises in tough environments in developing countries. The situation had not changed by 2017 when Linnenluecke reached the same conclusion. Owner-managers of micro, small, and medium enterprises were reported to be inadequately prepared for the impacts of disasters on their business (Skouloudis et al., 2022). Lately, the resilience of MSEs has been confirmed as comparatively less studied in both developed and developing countries despite their significance to their economies (Alberti et al., 2018; Rastegar et al., 2023; Pevkur, 2024). Further, previous studies focused on specific or event-based disruptions such as COVID-19 rather than ongoing, dynamic competition, turbulence, and other disruptive phenomena; and rarely on how MSEs achieve resilience (Mondragon, et al., 2023; Skouloudis et al., 2023; Thekkote, R., 2023; Elia, et al., 2023). Additionally, a study on MSME resilience is desirable because they play a crucial role in many countries’ economies but are vulnerable and significantly impacted by turbulence and other uncertainties (Robert et al., 2022; Rastegar et al., 2023). This fact has made MSME resilience an area of interest in entrepreneurial, managerial, and strategic studies (Saad et al., 2021).

METHODOLOGY

This paper is based on the literature review of books, official government and private institutional publications, peer-reviewed articles, and conference papers, accessed from library collections, and the internet. A systematic review-of-literature methodology was adopted to reduce subjectivity in the process of review and analysis of articles and conference papers (Hodgkinson &Ford, 2014; Fink, 2019). The approach entailed searching for specific terms in titles in identified databases or other internet sources. Further, inclusion and exclusion criteria were defined. The search terms were those related to this article’s focus. Various databases were searched including JSTOR, ScienceDirect, Scopus, and Directory of Open Access Journals (DOAJ). Key terms and phrases which implied the relevance of the articles searched in the databases were “SME resilience”, “business resilience”, “organizational resilience”, “strategies for MSME resilience”, and “business survival through turbulence”. Articles based on survey research, literature reviews, and theoretical works focused on enterprise owners’ strategies, entrepreneurial characteristics, and psychological traits that enhanced the resilience of micro, small, and medium enterprises, were considered relevant and included in the reviewed set. Also included were background articles that discussed the significance of micro, small, and medium enterprises in the economies of developed and developing countries. Finally, while the date of publication was not a criterion for inclusion or exclusion, the search turned out the most relevant articles from 2011; the fewer articles published since the 1970s provided the ancestry of resilience strategies as conceptualized by Cooper (2017). Full-text articles were screened against the inclusion criteria, duplicates were removed, and those not meeting eligibility criteria excluded. A total of 161 relevant publications (listed under references) comprising 125 peer-reviewed articles, 3 conference papers, 15 public and private institutional publications, 14 books, and 4 unpublished dissertations, were reviewed. As a guide to the analysis of information and ideas relevant to the topic of this article, an ecological systems approach (Crawford, 2020 was adopted which informed the identification of various levels at which enterprise resilience is built including the entrepreneur’s personal and psychological characteristics, and firm internal capabilities and external resources that resilient firms build or strengthen to enhance their resilience. These became key themes around which findings were analysed.

Concept of Resilience

From the literature reviewed, resilience is a multidisciplinary concept that describes the ability of an entrepreneur to react and positively adapt a business firm to survive, or anticipate and adapt to adverse, uncertain, and challenging economic circumstances. Some literature considers the concept as a process comprising readiness, response, recovery, and adaptation. In contrast, others identify it as a recovery process that entails a firm’s ability to return to its earlier position before a disturbance or turbulence, to absorb or withstand shocks; and ability to maintain its performance despite the turbulence (Martin & Sunley, 2015; Adobor & Mcmullen, 2018; Stone & Rahimifard, 2018; Bênê, 2020; Hartmann, et al., 2022). While Ortiz-de-Mandojana & Bansal, (2015) defined resilience as the ability to anticipate, avoid, and adjust to environmental disruptions and changes, Robert et al. (2022) described it as the ability to protect the firm from situations that threaten their existence, absorb, react and recover from phenomena such as competition, advances in technology, increasing customer demands or natural disasters. Other studies pointed to the elements that constitute capabilities inherent in resilience, comprising management practices that include agility, flexibility, redundancy, collaboration, and human resource management which support continued survival and business performance beyond disruptions over time (Ortiz-de-Mandojana & Bansal, 2015; Hohenstein, et al., 2015; Tukamuhabwa, et al., 2015; & Sâ et al., 2019). Other than collaboration with external parties, these elements appear to be internal to the firm, indicating that resilience resides in the strategies and resources within or available to the firm. This is supported by Conz et al., (2015) who found that the resilience of MSEs is driven by internal resilience strategies, and adaptive capacity, fostered by internal decisions. Further, Pevkur (2024) proposed that resilience should be evaluated as an internal issue and understood, perceived, and cultivated as a core value within a firm’s culture. According to him, resilience is a result of preparedness, which depends on a firm’s readiness to make quick decisions and adapt to new changes. Earlier, Vogus and Sutcliff (2007) concluded that resilience implies the availability of resources that can be activated, combined, and recombined in new situations to cope with emerging challenges. While internal capabilities are key to resilience, as shown in a subsequent section, firms also depend on external resources, including suppliers of inputs and markets for products. In addition to these resources, the personal and psychological factors that affect resilience are about the entrepreneurs themselves.

Personal and Psychological Factors and Resilience

A key personal characteristic that influences the resilience of MSMEs is entrepreneurial orientation, which comprises practices, processes, and decision-making activities to grow their enterprises through entry into new markets or developing new products for existing markets (Lumpkin & Dess, 1996). Entrepreneurial orientation is demonstrated by individuals innovating new products and processes, acting autonomously, taking risks, taking an aggressive approach to the competition, and proactively identifying and seizing new markets. These actions make them better prepared to face disruptions (Lumpkin & Dess, 1996; Zighan et al., 2022), and have a positive impact on the resilience of MSMEs (Al-Hakimi & Borade, 2020). Further, entrepreneurial orientation helps MSMEs to be resilient by balancing short-term and long-term objectives and taking action to respond to changes in the environment while ensuring that they maintain their position relative to their competitors (Zighan et al., 2022). Entrepreneurial orientation has been demonstrated to contribute to business model innovation and product development capabilities, thus playing a strategic role in business resilience (Ferreras-Mendes et al., 2021). Finally, Al-Hakimi et al., (2022) in their study concluded that entrepreneurial orientation has a positive impact on the resilience of the supply chain of small and medium enterprises.

The other personal characteristic that embeds MSME resilience is entrepreneurial competence, which was defined by Boyatzis et al., (2002) as the ability to utilize knowledge and skills to achieve very high levels of performance. In operational terms, entrepreneurial competence entails searching for opportunities, conceptualizing business ideas, establishing relationships, organizing, and taking strategic and operational risks to realize benefits from opportunities and business ideas (Man & Lau, 2000; Kuratko, 2011). Entrepreneurial competence is part of intellectual capital which is instrumental in sustaining the resilience of MSEs (Agostini & Nosella, 2022).

In their study, Nikolaev, Boudreaux &Wood (2020) found that previous research on entrepreneurship resilience has mostly focused on resources required to muddle through events and trends that threaten their continued survival and growth, but they isolated psychological traits associated with entrepreneurial orientation and competence, including independence, risk-taking, proactiveness, innovativeness, competitiveness, as well as ability to establish relationships and organizational skills. These are entrepreneurial function factors which, together with psychological function, comprising emotional, cognitive, social, and previous experience with difficulties, influence the resilience of entrepreneurs and their firms (Ahmed et al., 2022). According to Cascio and Luthans (2014), resilience is itself a psychological trait that enables an individual to endure and recover from adverse situations. The authors indicate that resilient entrepreneurs can grow and transform their firms in turbulent conditions. Personal characteristics and values such as reliability, integrity, and work ethics are important in building resilience (Kotsios, 2023). Further, individuals displaying resilience can create a positive influence on future generations of entrepreneurs and thus shape the behaviour of their successors (Jaskiewicz et al., 2015). Additionally, resilient individuals learn from business failure, pick up the pieces, and craft new ventures and strategies (Williams et al., 2019). When entrepreneurs build resilience, they can proactively solve problems, and they have a sense of moral purpose, self-reliance, realistic optimism, and a feeling of being part of the community (Shepherd et al., 2020).

Firm Internal Capabilities and Resilience

Like other businesses, micro small, and medium enterprises’ survival, growth, and sustainability have been influenced by turbulence in their operating environment (Robert et al., 2022; Rastegar et al., 2023). According to Ansoff et al., (2019), turbulence refers to frequent, rapid, unpredictable change brought about by complex factors such as the entry of competitors, economic crises, disruptive technologies, and other market disturbances. The authors further theorised that firms survive when their response to environmental turbulence is matched by aggressive strategic behaviour (innovative, creative approaches, including the generation of successive products, technologies, and marketing techniques that are deployed with appropriate speed and agility to cope with rapid changes), supported by commensurate capability. A firm’s capability comprises the skills, knowledge, and experience of the owners/managers together with the culture, structure, and information system, all working and supporting each other (Ansoff et al., 2019).

Internal resources, strategies, and core values determine the resilience to adapt and cope with emerging challenges (Vogus & Sutcliff, 2007; Conz et al., 2015; Pevkur, 2024). In his resource-based view theory, Barney (1991) posited that when a firm acquires valuable tangible and intangible assets and capabilities that are rare, difficult to substitute, and to imitate, it is enabled to utilize and take advantage of other resources that it controls and exploit opportunities and neutralize threats, thereby getting a competitive advantage. Firm capabilities include valuable resources, collaborations, networks, teamwork, employee cooperation, knowledge, and skills for performing certain tasks (Teece & Pisano, 2004; Rothaermel, 2017). These assets and capabilities that a firm controls and uses to gain competitive advantage enhance business resilience. By acquiring or developing such resources and capabilities, an enterprise can build resilience (Vershinina & Rodgers, 2023).

However, building and owning organizational capabilities and valuable assets are necessary but not sufficient to sustain competitive advantage and business resilience. Firms need dynamic capability, that is, to own capacities to integrate, build, reconfigure, and renew their internal and external competencies to respond to and manage the dynamic business environment and thus enhance their resilience (Teece et al., 1997). To build resilience, a firm needs the ability to sense or absorb, that is, identify, acquire, process, analyse, interpret, understand, and transform valuable external information and knowledge and apply them to exploit profitable opportunities (Cohen & Levinthal, 1990). With this knowledge, firms can seize, transform, and reconfigure, as well as continually align and realign (shape) tangible and intangible assets to constantly implement the seized opportunities (Alinaghian, 2012; Teece, 2014). Secondly, they need to identify, discover, create; and mobilize, as well as allocate resources to seize emerging opportunities; and continuously reconfigure and renew (transform) resources and capabilities to take advantage of those opportunities in the face of environmental changes to enhance their competitiveness and resilience (Teece, 2009, 2012, 2014).

Dynamic capabilities therefore constitute a firm’s ability to renew its competencies over the long term to enable it to adapt and respond to changing business environment (Matarazzo et al., 2021; Junaid et al., 2023; Awad & Martin-Rojas, 2023). Dynamic capabilities activities, broadly comprising absorbing, sensing, seizing, and shaping, require strong leadership to deliver the desired outcomes (Teece, 2014). Therefore, a firm’s strong leadership is critical for building and sustaining resilience.

Leadership and management

The central role of leadership in developing resilience capacity and facilitating adaptation of the enterprise to crises, competition, technological advances, and other environmental dynamics that threaten the survival and continuity of the business has been established by theoretical and empirical studies (Mintzberg, 1973; De Olivera &Werther, 2013; Teece, 2014; Seville et al., 2015; Hughes, 2018; Ansoff et al., 2019; Zutshi et al., 2021). Leaders develop other leaders at all levels of the firm, articulate a vision, and espouse values that inspire people in the firm to unite, work together, do what is right, and focus on achieving shared long-term objectives. In addition to being accessible and visible to their internal and external stakeholders, leaders make timely decisions during crises. And finally, leaders make resilience everyone’s responsibility and thus encourage wide contributions in ideas, innovations, efforts, and initiatives to cope with environmental disturbances (Seville et al., 2015).

Leadership and innovation

There is a high correlation between leadership and employee, team, and organizational creativity, on the one hand, and innovation, as well as firm resilience, on the other (Hughes, 2018). Leadership of the business firm influences innovation around business models, processes, products, and services, which improves the capacity of the firm to be resilient in turbulent and uncertain environments. According to Zutshi et al., (2021), competitive advantage and resilience can be achieved through innovation, which entails investing in transferable skills and resources and applying them in adapting to change and improving existing or creating new organisational processes, products or services, as well as change that favours customers. Earlier, de Olivera &&Werther (2013) found that the innovation process and its management, form the foundation of resilience, pointing out specifically that anticipatory innovation builds the resilience capability of firms by creating an internal environment embedded by leadership, strategic planning process, a culture of open and trusting relationships, and innovation made a way of life. The leadership employs digital technology to foster a firm’s innovativeness, promotes collaboration with external actors, enables the collection of market information; transforms the way the firm does business and creates value; and improves competitiveness and performance (Papagiannidis et al., 2020; Dwivedi et al; 2022; Muninger et al et al., 2022; Forliano et al., 2023). Digital platforms enable product and service inquiries as well as agile support systems. They improve service innovation including customer experience, which is critical in enhancing firm resilience (PWC Philippines, 2020; Heinonen & Strandvik, 2021). The adoption of digital technology enhances innovation, performance, productivity, and embracing new skills and digital opportunities; hence providing business resilience and ensuring survival, profitability, and growth in a competitive, turbulent, and dynamic operating environment (Zutshi et al., 2021; Do et al., 2022; Forliano et al., 2023; Su & Junge, 2023)

Governance and management

Leadership drives dynamic capability activities and ensures necessary changes to adapt to emerging situations (Teece, 2014). In a study that investigated the relationship between firm ownership and governance, Lampel et al., (2014) found that employee-owned firms (as some of the MSEs are) that exercised flexibility and open communication benefitted from resource mobilisation which consequently facilitated resilience. A study on how small firms strategically planned for and managed crises identified leadership, decision-making, culture, and situational awareness as key enablers, and further explained that to achieve resilience, firms should encourage creativity and innovation, adopt a democratic and decentralised structure, and leaders must communicate optimism, hope, and must make decisions quickly (Vargo & Seville, 2011). The ability of the management to make decisions that they can implement, based on their experience and intuition, and which match the severity of the turbulence, determines a business firm’s appropriate response and adaptation to environmental changes (Mintzberg, 1973; Ansoff et al., 2019). Resilience is also enhanced by systems established by a business firm’s management to enable it to obtain internal and external information and use it to continually scan the environment, proactively identify risks, and make timely decisions that can help it adapt to and sustain its operations beyond environmental shocks and other disturbances and “achieve a higher degree of resilience” (Sundström & Hollnagel, 2006).

Business model & strategy

A firm’s leadership conceptualises and implements an appropriate business model and strategy that responds to deregulation, technology, competition, or other changes in the environment that threaten the survival, profitability, or growth of the firm. A business model takes an ecosystem perspective and is a “system of interconnected activities performed by a firm that creates value and a profit logic, comprising cost structure and revenue sources, that captures at least some of that value” (Snihur and Eisenhardt, 2022. p.4). Characterised by innovation, change, evolution, and design, (Wirtz, 2016), a business model encompasses organisational processes and structures that create value that offers competitive advantage and a degree of resilience (Snihur & Eisenhardt, 2022). But while a business model refers to how businesses create and capture value for their owners, a strategy is the choice of a business model through which the business will operate in the marketplace to create the best value for its stakeholders (Casadesus-Masanell & Ricart, 2010). The business leadership would guide management and staff teams to prepare strategies and business plans, and train employees on the activities and their roles in what needs to be implemented to get desired performance outcomes. Further, by sharing the vision, goals, and firm objectives, as well as performance culture with employees, the leadership creates a “strategy-as- practice through collective sensing” (Erdiaw-Kwasie et al., 2023). To support strategy as practice, an atmosphere of knowledge, trust, and innovation is needed to foster a dynamic interplay of stability, adaptation, and adaptability, influenced by individual, organisational, and market environments (ibid). Leadership also causes the adoption of strategic tools such as digital technologies that facilitate the updating of business strategies and provide information on trends and impacts that facilitate diagnosis and prompt proactive action against disruptions in the operating environment (Dwivedi et al., 2020).

Leadership and management, firm’s agility & responsive supply chain

Enabled by access to relevant information and knowledge to predict problems and enhance resilience, leadership integrates strategic plans, business plans, and programs that address risk, business continuity, emergencies, and crises as a single process within the management ethos and way of operating (Pevkur, 2024). Access to information and knowledge further facilitates a firm’s agility or its capacity to identify and capture opportunities more quickly than competitors in turbulent situations (Sull, 2010). Agility comprises three dimensions: strategic agility- spotting and seizing game-changing opportunities; portfolio agility- capacity to shift resources quickly out of less promising areas to more attractive ones; and operational agility- exploiting opportunities within a focused business model (Sull, 2010). Strategic agility strongly impacts micro, small, and medium enterprises as it appropriately aligns the firm’s business model, innovates, and responds to competitive challenges, thus securing the sustainability of operations beyond crises or other volatile situations (Susilawati, 2024). Supply chain flexibility, agile production processes, and effective risk management practices strengthen operational resilience (Mohezar et al., 2023). Operational resilience contributes significantly to enterprise success by influencing efficiency in the supply chain as well as maintaining overall cost-effective processes (Hejazi et al., 2022; Bhatti et al., 2022). In summary, agility is an effective strategy, framework, system, or management practice that enables a firm to adapt its activities and strategies to respond flexibly to a changing environment (Robert, et al., 2022; Erdiaw-Kwasie et al., 2023).

Agility encompasses flexibility which when applied to the supply chain system provides alternative options (flexible supply, production, transportation, capacity, and labour arrangements) to deploy during disruptions, which enables fast operational adaption to change (Purvis et al., 2016; Adobor & McMullen, 2018; Shashi et al., 2020; Ali et al., 2021). A responsive supply chain during disruptions also requires proactive resilience capabilities including collaboration, redundancy (contingency planning and strategic inventory stock), disaster readiness/risk management culture, financial strength, and market orientation (Shashi et al., 2020; Ali, et al., 2021). The use of digital technology to distribute products and deliver services as well as connect with suppliers and customers to build resilient strategies jointly helps in overcoming limitations during disruptions (Seville et al., 2015; PWC Philippines, 2020). Earlier, Bourletidis and Trainfafyllopouos (2014) found that MSEs needed to replan and adapt existing products to existing markets to match declining demand due to economic downturn or other adverse conditions, in addition to finding ways to reduce costs, negotiating better terms with suppliers, and accordingly adjusting prices. Further, they indicated the need for firms to communicate and engage the stakeholders at all stages about the effects of a crisis, downturn, or other disturbance on supplies and prices, as well as measures they adopt to cope with the situation. Enterprise resilience is also enhanced by embedding resilience into operational excellence. This is done through establishing simple, standardised, and sustainable operating routines; providing adequate resources for operations; ensuring the availability of complete, reliable, and timely data as well as information and knowledge, shared among employees (Seville, et al., 2015).

Leadership and financial & risk management

are better equipped to absorb or adapt to financial and environmental shocks, and maintain liquidity that can support their operations and invest in growth opportunities Micro and small enterprises (MSEs) that can source funds for their capital and operations from diverse sources and have sound systems for financial management including budgets, contingency and business continuity plans, integrated information systems, as well as supplementary financial resources, and strategies for diversification of risks, (Roffia & Dabic, 2023; Elia et al., 2023 Susilawati, 2024; Apasrawirote & Yawised, 2024). This reinforces the finding of a survey by PWC Philippines (2020) which showed that before and after crises, firms needed to address financing and working capital sources as well as alternative revenue streams. It can therefore be observed that financial stability and preparedness are critical for an enterprise’s resilience

Leadership and other strategies for resilience

Adaptive capacity

Building MSE resilience takes deliberate initiative and effort from the enterprise leadership to help it survive and thrive in a competitive environment. One strategy is to make adaptive capacity a core competency. Adaptive capacity requires risk intelligence, that is, the ability to collect information and pick weak signals and trends that challenge the adopted business model. It also requires flexibility to change and redesign the business model to cope with the environmental dynamics. Adaptive capacity also encompasses change readiness, which entails fostering a culture of responsiveness and proactive response to changes in the operating environment. It enables a firm to sail through the impacts of disruptions and take advantage of emerging opportunities in the marketplace. Further, it requires continually questioning assumptions, reinventing organisational structures, increasing responsiveness, and continuously experimenting with innovation (Seville, 2015).

Continuous learning

One strategy to cope with technology disruptions, operational volatility, rapid market shifts, and increasing competition is for enterprise leadership to enhance a culture of continuous learning. The firm needs to create learning processes, make knowledge-sharing and management available and accessible to all employees, and create a culture of trust where employees freely share and propose new and diverse ideas. A learning organisation can potentially build resilience (Seville, 2015). Enterprises that benefit from business development training, mentoring, and modelling to build entrepreneurial, marketing, networking, and resilience capacity help the firms to survive disturbances and other events in the operating environment (Bullough & Ranko, 2013)

Sustainable resilience strategies

Sustainable entrepreneurship is a broad and overarching strategy that subsumes resilience. The concept relates to an entrepreneurship venture prioritising the conservation of nature (planet) and improving communities’ lives (people). It creates innovative products, services, and processes that deliver economic advantages (profit) to firm owners and society (Shepherd &Patzelt, 2011). This “triple bottom line”, as it is called, (Heizer, et al., 2020) has evolved into people, planet, prosperity, peace, and partnerships (United Nations, 2015), underscoring the need for an enterprise to pursue profit while ensuring that the products, services, and processes preserve the environment and serve the interests of the community as a means of assuring resilience and sustainability.

In the face of turbulence, four sustainable resilience strategies. First is survival, which is finding creative ways to deal with crises that may arise. The second is continuity, which involves finding ways to access resources and markets. Third is reorientation, which entails evaluating attitudes and decision-making processes in response to changes in the operating environment. And fourth is synergy, which comprises building joint capabilities with networks, and other stakeholders to cope with changes in the environment (Branicki et al., 2018; Ahmed et al., 2022).

The strategic deployment of digital technology

Firms have adopted digital technology to increase their competitiveness by fulfilling digitalisation prerequisites such as access to the internet and attendant devices and using them in operational processes such as customer service, production, supply chain, and marketing. Digital technology has also been used to enhance resilience by using it to facilitate product and service innovation, network relationships and to improve overall customer and stakeholder relations (Pesce et al., 2019; Jha et al., 2022; Sharma et al., 2022; Tamvada et al., 2022)

External Resources for MSE Resilience

While internal capability is critical for enterprises’ survival and sustainability, businesses depend on resources, networks, collaborations, linkages, and competitors from outside the firm. A firm’s internal capability to leverage external resources significantly increases its resilience capacity (Kotsios, 2023),

External Resource dependence

Pfeffer & Salancik’s (1978) resource dependency theory underscored the dependence of firms on the various resources they require and are available in the external environment. To optimise the benefits of these environmental resources, firms need a strategy that builds, nurtures, and exploits opportunities provided by networks that control resources that may constitute inputs to a firm’s production or facilitate operations, distribution, and delivery of goods and services to customers (Berman, et al., 1999).

Networks

Networking refers to any relationship, tie, or linkage, that MSE entrepreneurs or their employees enter into with other businesses, suppliers, customers, individuals, or business support organizations, including research organisations, banks and financial institutions, trade associations, law firms, and non-governmental organisations, to obtain critical economic resources they require to start and grow their business (Yen et al., 2015; Arifon & Vanderbiest, 2016; Horak & Nihalani, 2016; Neumeyer & Santos, 2018; Purbasari et al., 2020; Vissera et al., 2021). Networks can provide access to private information, entrepreneurial opportunities, financial capital, social capital, service innovation, skilled labour, and tacit knowledge through sharing information that would ordinarily not be readily available. It also provides new and valuable ideas, practical assistance, and emotional support to micro and small business entrepreneurs (Seville et al., 2015; Wagner, et al., 2021; Erdiaw-Kwasie et al., 2023). Additionally, networks provide support services such as transport, information, accounting, tax, mentorship, consulting, and advisory required by businesses at competitive prices; services that MSEs need to grow and sustain their businesses (Desta, 2015; Yen et al., 2015). Networking facilitates strategies to mitigate the risk of resource dependency (Desta, 2015). Empirical studies have established a positive relationship between networks and the performance of MSEs (Ogunjemilua et al., 2015). As concluded by Vershinana & Rodgers, (2023), network building is one way of developing an enterprise’s social capital and resilience capacity. Taken together, network resources enhance MSE resilience.

Linkages

Whereas limited access to markets for products or services severely constrains the start-up, growth, and resilience of micro and small enterprises (MSEs) in developing countries (Mattsson &Wallenberg, 2003; Abera, 2016), forward linkages to large and established enterprise customers through contracts provide a great potential for the development and growth of MSEs. These linkages provide inputs to their production or other processes arranged by intermediary business development service providers or at the initiation of the individual entrepreneur (Gudeta & Tulu, 2022). When a micro and small enterprise is sub-contracted by a large enterprise to produce or supply parts, components, subassemblies, or services to be incorporated into the product or service of the contracting large firm, it gets technical advice, improves the transfer of skills and technology, improves its production processes, as well as get a reliable source of business all of which enhance capacity for resilience (Dvôl, 2002). Backward linkages enable access to raw materials required to produce goods and ensure a reliable supply of inputs and the possibility of negotiating favourable purchase terms, facilitating a firm’s efficient procurement, seamless production, better quality inputs, and satisfaction of customer needs (Debelo et al., 2015). Overall, market linkages contribute significantly to the growth, and resilience of MSEs (Meressa, 2020; Gudeta &Tulu, 2022).

Co-opetition

The strategies employed by businesses to create value include entering long-term cooperative relationships with market players who complement their products or services so that customers value the firm’s product more than if they offered their product alone. Further, a supplier may find it more attractive to provide resources to a firm if it simultaneously supplies a complementor, thus enabling economies of scale that a firm would not achieve on its own. Thirdly, apparent competitors selling similar products in the same location provide a pool and variety of the same goods packaged differently to provide choices that attract many customers and thus each of the sellers benefits from a large market for suppliers and customers. This way, competing businesses become complementing businesses (Nalebuff & Brandenburger, 1997; p.16; Goel et al., 2021). According to these authors, this complementary relationship, or co-opetition, creates value that benefits all parties and provides a degree of hedge against environmental disturbances.

Collaboration

MSE resilience is influenced by strong social networks, past experience, and local knowledge, which help understand customers’ shifting preferences and overall socio-cultural change, driving culturally appropriate transformative actions and adapting to disturbances (Erdiaw-Kwasie et al., 2023). To promote resilience, collaboration starts with leveraging existing relationships with partner organisations, other local organisations, and communities, and extending across markets and regions (Seville et al., 2015). In addition, open, transparent collaboration with stakeholder networks facilitated by robust channels of communication such as digital technologies assist in accessing support and resources businesses need in times of turbulence (Zutshi et al., 2021; Erdiaw-Kwasie et al., 2023). Collaboration with customers and other external partners that exploits interactive features of digital tools strengthens internal capability for communication, knowledge sharing, and service innovation, thus enhancing resilience capacity (Lütjen et al., 2019; de Zubielqui et al., 2019).

In a supply chain system, collaboration entails one or more parties coordinating their work, cooperating, sharing knowledge, facilitating supplier certification, making joint decisions, and developing one and each other, so that all parties obtain advantages such as high-quality goods and services, decreased lead times, improved procurement and production efficiencies, reduction of wastage and flexibility in responding to customer demands as well as a better response to economic turbulence and improving resilience (Scholten & Schilder, 2015; Stone & Rahimifad, 2018; Shashi et al., 2020).

FINDINGS, DISCUSSIONS, AND CONCLUSION

Various authors confirm that resilience is a multidisciplinary concept that has similar elements, but which are, however, defined within the context of each discipline. In entrepreneurship, the concept has been defined as taking a proactive approach such as building capabilities to hedge a firm against risks that threaten its continued existence, and to react to challenges arising from turbulence caused by various environmental factors, as well as absorb, survive, recover, and continue operations and performance (Ortiz-de-Mandojana & Bansal, 2015; Hohenstein et al., 2015; Tukamuhabwa et al., 2015; & Sâ et al., 2019).

Personal entrepreneurial characteristics and psychological traits embed MSE resilience. Entrepreneurial orientation is presented by an individual’s innovation of business model and new or improved products or processes, being proactive, taking autonomous action, taking risks, confronting competition aggressively, and identifying and seizing new market opportunities. Entrepreneurial competence, which is part of intellectual capital, enables the use of knowledge and skills by a business owner to identify business opportunities, conceptualise a business model, chart strategic direction and actions, organise and implement actions, build networks, and collaborations, and take risks to realise set goals. These behavioural characteristics, together with values such as reliability, integrity, and the work ethics of entrepreneurs, contribute to their firms’ preparedness to survive disturbances, thus positively influencing MSE resilience (Al-Hakimi et al., 2022; Agostini & Nosella, 2022; Boyatzis et al., 2002; Kotsios, 2023; Kuratko, 2011; Man & Lau, 2000; Zighan, et al., 2022). While resilience is by itself a psychological trait that enables individuals to bear and recover from adverse situations (Casio & Luthans, 2014), the psychological functions associated with entrepreneurial orientation and competence including emotional, cognitive, social, and previous experience, influence a firm’s resilience (Ahmed et al., 2022). Thus, resilient entrepreneurs can take their firms through turbulent conditions, grow and sustain them over time.

Personal and psychological traits reside in the owner/manager of a micro and small enterprise (MSE). These traits, alongside the intangible assets comprising the skills, knowledge, experience, culture, values, structure, and information systems, together with tangible assets owned and controlled by the firm that are valuable, rare, and difficult to imitate and substitute, are internal to the firm. While these internal assets constitute the firm’s capability to develop and implement competitive strategies, the firm needs dynamic capabilities, the ability to integrate, build, reconfigure and renew their competencies to respond to, adapt, and survive environmental disturbances (Barney 1991; Teece et al., 1997; Teece & Pisano, 2004; Ansoff et al., 2019; Pevkur, 2024). Dynamic capabilities require leadership and management to implement the requisite activities and realise the desired outcomes. Specifically, firm leadership articulates a vision, long-term objectives, and values, as well as aligns and inspires employee teams to take responsibility for performance and resilience. Firm leadership facilitates team productivity, performance and profitability through the innovation of business model, development of appropriate strategy and implementation plans, and adoption and diffusion of digital technology which is used to innovate processes, products, and customer relationships. This ensures survival, business growth, and resilience in difficult environments (de Olivera & Werther, 2013; Seville, et al., 2015; Heinenon & Strandvik, 2021; Dwivedi et al., 2022; Tamvada et al, 2022; Snihur& Eisenhardt, 2022; Forliano et al., 2023). Finally, leadership develops and ensures the implementation of management systems that comprise supply chain flexibility, risk management/business continuity and resilience plans, effective financial management, digitally-enabled information systems, continuous learning and adaptive capacity, and stakeholder collaborative mechanisms as well as practices that make the firm agile and able to respond, adapt, and grow despite turbulence in the environment (Sull, 2010; Bullough & Ranko, 2013; Seville, 2015; Bhatti et al, 2022; Mohezar et al., 2023; Erdiaw-Kwasie et al., 2023; Robia & Dabic, 2023).

In addition to the findings on the role of internal capability in building firm resilience, the theoretical and empirical literature reviewed reemphasised that enterprises require external resources for survival and sustainability. Thus, resilient enterprises were shown to access external resources through networks, collaborations, linkages, and mutually beneficial associations with otherwise competing firms. An enterprise’s ability to leverage external resources significantly enhances resilience capacity (Pfeffer & Salancik, 1978; Nalebuff & Brandenburger, 1997; Dvôl, 2002; Goel, et al., 2021; Vissera et al., 2021; Zutshi et al., 2021; Gudeta & Tulu, 2022; Erdiaw-Kwasie et al., 2023Kotsios, 2023). However, other authors showed that high dependence on external factors coupled with weak internal resources and capabilities lower a firm’s ability to sustain itself in the face of turbulence or other environmental disturbances (Pfeffer &Salancik, 1978; Pal et al., 2014). This underlines the critical role of a firm’s internal capabilities in enterprise resilience.

In summary, the personal and psychological traits of an entrepreneur, while not strategies by themselves, constitute the basic necessary conditions for creating strategic internal and external resource capabilities that build or enhance an enterprise’s resilience and assure survival, growth, and sustainability in the face of environmental turbulence. The overall conceptual framework arising from the findings is depicted in Figure 1.

Figure 1: Conceptual framework

RECOMMENDATION

Whereas the resilience strategies identified for micro, small and medium enterprises are supported by theoretical and empirical literature, limited studies have been carried out in Kenya. It is therefore recommended that some of the strategies for resilience identified be investigated and tested in Kenya to determine the extent to which MSEs employ them to build resilience.

REFERENCES

1. Abdin, J. (2019). Role of Micro, Small and Medium Enterprises in Economic Development. https://www.researchgate.net/publication/335228353
2. Abera, Y. (2016). Market challenges and opportunities of micro and small-scale enterprises in Dire Dawa, Ethiopia. http://economia.unipv.it/naf/
3. Adobor, H., & McMullen, R. S. (2018). Supply chain resilience: A dynamic and multidimensional approach. International Journal of Logistics Management, 29, 1451–1471. DOI.org/10.1108/IJLM-04-2017-0093
4. AfDB, OECD, UNDP (2017). African Economic Outlook 2017: Improving entrepreneurship for industrialization in Africa. www.oecd.org › dev › African-economic-outlook
5. Agostini, L., & Nosella, A. (2022). Intellectual capital and resilience: evidence from two cases of SMEs. Knowledge Management. Research and Practice, 21(5), 929–942. https://doi.org/10.1080/14778238.2022.2103047
6. Ahmed, A. E., Ucbasaran, D., Cacciotti, G., & Williams, T. A. (2022). Integrating psychological resilience, stress and coping in entrepreneurship: A critical review and research agenda. Entrepreneurship Theory & Practice, 46(3), 497– 538. https://doi.org/10.1177/10422587211046542
7. Aladin, A., Dewatal, E., Sari, Y., Aryani, Y.A. (2021). The Role of Small and Medium Enterprises and Economic Growth in Indonesia: The VECM Analysis. Atlantis Highlights in Social Sciences, Education, and Humanities, 1. Proceedings of the 4th Forum in Research, Science, and Technology (FIRST-T3-20).
8. Alberti, F., Ferrario, S., and Pizzurno, E. (2018). Resilience: resources and strategies of SMEs in a new theoretical framework. International Journal of Learning and Intellectual Capital, 15 (2), 165-188. https://doi.org/10.1504/ IJLIC.2018.091969
9. Al-Hakimi, M. A., & Borade, D. B. (2020). The impact of entrepreneurial orientation on supply chain resilience. Cogent Business and Management, 7(1), 1847990. https://doi.org/10.1080/23311975.2020.1847990
10. Al-Hakimi, M. A., Borade, D. B., & Saleh, M. H. (2022). The mediating role of innovation between entrepreneurial orientation and supply chain resilience. Asia-Pacific Journal of Business Administration, 14(4), 592–616. https://doi. org/10.1108/APJBA-10-2020-0376
11. Ali, I., Nagalingam, S., & Gurd, B. (2017). Building resilience in SMEs of perishable product supply chains: Enablers, barriers, and risks. Production Planning & Control, 28, 1236–1250. https://doi.org/10.1080/09537287.2017.1362487
12. Ali, M. H., Suleiman, N., Khalid, N., Tan, K.H., Tseng, M. & Kumar, M. (2021). Supply chain resilience reactive strategies for food SMEs in coping to the COVID-19 crisis. Trends in Food Science & Technology. 109 (2021), 94–102. https://doi.org/10.1016/j.tifs.2021.01.021
13. Alinaghian, L. S. (2012). Operationalising dynamic capabilities: A supply network configuration approach. DRUID Academy, 1-45. Corpus ID: 168056912
14. Amoah, S. & Amoah, A. (2018). The Role of Small and Medium Enterprises in Employment in Ghana. International Journal of Business and Economics Research. 7(5), 151 – 157. DOI: 10.11648/j.ijber.20180705.14
15. Ansoff, H. I., · Kipley, D., Lewis, A., Helm-Stevens, R., & Ansoff, R. (2019). Implanting Strategic Management (3rd Ed.). Palgrave Macmillan. https://doi.org/10.1007/978-3-319-99599-1
16. Apasrawirote, D. & Yawised, K. (2024). The emergence of business resilience plans in dealing with business turbulence. Management Research Review, 47(1), 141-161. DOI.org/10.1108/MRR-04-2022-0273
17. Arifon, O., Vanderbiest, N. (Nov.,2016). Integrating social networks in a lobbying campaign: The case study of Intermarché, a supermarket chain. Telematics and Informatics. 33(4), pp. 1105-1118. Elsevier B.V. https://doi.org/10.1016/j.tele.2016.03.007
18. Ates, A., & Bititci, U. (2011). Change process: A key enabler for building resilient SMEs. International Journal of Production Research, 49(18), 5601–5618. https://doi.org/10.1080/00207543.2011.563825
19. Awad, J., & Martín-Rojas, R. (2023). Enhancing social responsibility and resilience through Entrepreneurship and digital environment. In press, 1-17. Corporate Social Responsibility and Environmental Management. https://doi.org/10.1002/csr.2655
20. Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, (17(1), 99-120. https://doi.org/10.1177/014920639101700108
21. Begum, L. A., Talukder, S., Rahman, M., Das, R.C., Bhattacharjee, P., & Miah, N. (2022). Estimating the contribution of SME’s output on GDP growth in Bangladesh. A VECM Approach. Special Research Work- SRW 2201. Research Department, Bangladesh Bank.
22. Bênê, C. (2020). Resilience of local food systems and links to food security – a review of some important concepts in the context of COVID-19 and other shocks. Food Security, 12, 805–822. https://doi.org/10.1007/s12571-020-01076-1
23. Berman, S. L., Wicks, C., Suresh Kotha, S., & Jones, T.M. (1999). Does Stakeholder Orientation Matter? The Relationship Between Stakeholder Management Models and Firm Financial Performance. Academy of Management Journal, 42(5), 488-506. DOI: 10.2307/256972
24. Bhamra, R., Dani, S. & Burnard, K. (2011). Resilience: the concept, a literature review, and future directions. International Journal of Production Research, 49(18), 5375–5393. https://doi.org/10.1080/00207543.2011.563826
25. Bhatti, A., Bhatti, S, & Saif, S. (2022). A moderated-mediation analysis of supply chain efficiency, flexibility, integration, and risk management. Pakistan Business Review, 24(3). DOI:10.22555/pbr. v24i3.770
26. Bhorat, H., Asmal, Z., Lilenstein, K., & Der Zee, K. (2018). MSMEs in South Africa: Understanding the Constraints on Growth and Performance. Working Paper 201801. DPRU, University of Cape Town
27. Bourletidis, K. & Triantafyllopoulos, Y. (2014). SMEs Survival in Time of Crisis: Strategies, Tactics and Commercial Success Stories. ScienceDirect. Procedia – Social and Behavioural Sciences, 148 (2014), 639 – 644. Doi: 10.1016/j.sbspro.2014.07.092
28. Boyatzis, R. E., Stubbs, E. C., & Taylor, S. N. (2002). Learning cognitive and emotional intelligence competencies through graduate management education. Academy of Management Learning & Education, 1(2), 150–162. https:// doi.org/10.1111/1468-2389.00137.
29. Branicki, L. J., Sullivan-Taylor, B., & Livschitz, S. R. (2018). How entrepreneurial resilience generates resilient SMEs. International Journal of Entrepreneurial Behaviours & Research, 24(7), 1244–1263. https://doi.org/10.1108/ IJEBR-11-2016-0396
30. Bullough, A. and Renko, M. (2013). Entrepreneurial resilience during challenging times. Business Horizons, 56(3), 343–350. https://doi.org/10.1016/j.bushor.2013.01.001
31. Casadesus-Masanell, R., & Ricart, J. (2010). From Strategy to Business Models and onto Tactics. Long Range Planning, 43(2-3),195-215. https://doi.org/10.1016/j.lrp.2010.01.004.
32. Cascio, W. F., & Luthans, F. (2014). Reflections on the metamorphosis at Robben Island: the role of institutional work and positive psychological capital. Journal of Management Inquiry, 23(1), 51–67. https://doi.org/10.1177/1056492612474348
33. Chrisman, J., Chua, J. and Steier, L. (2011). Resilience of family companies: an introduction. Entrepreneurship Theory and Practice, 35(6), 1107–1119. https://doi.org/10.1111/j.1540-6520.2011.00493.x
34. Cohen, W. M., & Levinthal, D. A. (1990). Absorptive Capacity: A New Perspective on Learning and Innovation. Administrative Science Quarterly, 35(1), 128–152. https://doi.org/10.2307/2393553
35. Conz, C., Denicolai, S., & Zucchella, A. (2015). The Resilience Strategies of SMEs in Mature Clusters. Journal of Enterprising Communities, People and Places in the Global Economy. DOI: 10.1108/JEC-02-2015-0015
36. Conz, E. (2016). The resilience of firms: a conceptualization through inductive content analysis. BAM2016 Conference Proceedings. British Academy of Management (BAM).
37. Cooper, H. (2017). Research synthesis and meta-analysis: A step-by-step approach (5th Ed.). Thousand Oaks, Sage Publications, Inc.
38. Crawford, M. (2020). Ecological Systems Theory: Exploring the development of the theoretical framework as conceived by Bronfenbrenner. Journal of Public Health Issues and Practices, 4(2):170. DOI.org/10.33790/jphip1100170.
39. Debelo, B. K., Teshome, A., & Minalu, T. (2015). Factors affecting development of micro and small enterprises. International Journal of Scientific and Research Publications, 5(1), 1–10. file:///C:/Users/USER/Downloads/Belay_kinati_Debelo.pdf
40. Desta, N. T. (2015). Networking as a Growth Initiative for Small and Medium Enterprises in South Africa. Unpublished Master’s Dissertation. University of The Free State. South Africa
41. Do, H., Budhwar, P., Shipton, H., Nguyen, H. D., & Nguyen, B. (2022). Building organizational resilience, innovation through resource-based management initiatives, organizational learning and environmental dynamism. Journal of Business Research, 141, 808–821. https://doi.org/10.1016/j.jbusres.2021.11.090
42. de Oliveira T. E., & Werther Jr., W.B. (2013). Resilience: Continuous renewal of competitive advantage. Business Horizons, 56(3), 333–342. https://doi.org/10.1016/j.bushor.2013.01.009.
43. de Sâ, M., Miguel, P., de Brito, R. P., & Pereira, S. C. F. (2019). Supply chain resilience: The whole is not the sum of the parts. International Journal of Operations & Production Management, 40, 92–115. https://doi.org/10.1108/IJOPM-09-2017-0510
44. de Sa, M.M., Prim, A.l. & Birou, L. (2023). With major risks comes great resilience: the COVID-19 effect on SMEs in a developing country. Operations Management Research, 16, 1043-1055. https://doi.org/10.1007/s12063-023-00362-3
45. de Zubielqui, C. G., Fryges, H., & Jones, J. (2019). Social media, open innovation & HRM: Implications for performance. Technological Forecasting and Social Change, 144, 334–347. https://doi.org/10.1016/j.techfore.2017.07.014
46. DVôl, M. W. (2002). Sub-contracting: A Tool for Industrialisation: Lessons for Kenya. Nairobi; PERC-PACE International
47. Dwivedi, Y., Hughes, L., Baabdullah, A., Ribeiro-Navarrete, D., Giannakis, M., AlDebei, M., Dennehy, D., Metri, B., et al., (2022). Metaverse beyond the hype: Multidisciplinary perspectives on emerging challenges, opportunities, and agenda for research, practice, and policy. International Journal of Information Management, 66(102542), 1–55. https://doi.org/10.1016/j.ijinfomgt.2022.102542
48. Elia, G.,  De Matteis, J.,  Del Vecchio, P. (2023). Business continuity management and organizational resilience: A small and medium enterprises (SMEs) perspective. Journal of Contingencies and Crisis Management, 31(3). DOI: 10.1111/1468-5973.12470
49. Erdiaw-Kwasie, M. O., Abunyewah, M., Yusif, S. & Arhin, P. (2023). Small and medium enterprises (SMEs) in a pandemic: A systematic review of pandemic risk impacts, coping strategies and resilience. ScienceDirect. Heliyon, 9 (2023) e20352. https://doi.org/10.1016/j.heliyon.2023.e20352
50. Ferreras-Méndez, J. L., Olmos-Peñuela, J., Salas-Vallina, A., & Alegre, J. (2021). Entrepreneurial orientation and new product development performance in SMEs: The mediating role of business model innovation. Technovation, 108, 102325. https://doi.org/10.1016/j.technovation.2021.102325
51. Fink, A. (2019). Conducting Research Literature Review: From the Internet to Paper (5^th Ed.). Los Angeles, Sage Publications.
52. Forliano, C., Bullini, L., Zardini, A., & Rossignoli, C. (2023). Technological orientation and organizational resilience to Covid-19: The mediating role of strategy’s digital maturity. Technological Forecasting and Social Change, 188(122288), 1–9. https://doi. org/10.1016/j.techfore.2022.122288
53. Githeko, J. M. (1996). Implementing a Technological Innovation in Small Business Centres in Kenya: Barriers And User Concerns. (Doctoral dissertation, University of Illinois at Urbana Champaign, 1996). Dissertation Abstracts International, 57llA, 4704.
54. Goel, R., Mazhar, U., & Ram, R. (2021). Informal competition and from performance: Impacts on input-versus output performance. Managerial and Decision Economics., 43, 418–430. https://doi.org/10.1002/mde.3390
55. Gudeta, O.E., & Tulu, D.T. (2022). The role of market linkage in the growth of micro and small scale enterprises: the case of Ambo town, Ethiopia. Journal of Innovation and Entrepreneurship, 11(64). https://doi.org/10.1186/s13731-022-00258-9
56. Hartmann, S., Backmann, J., Newman, A., Brykman, K. & Pidduck, R. (2022). Psychological resilience of entrepreneurs: A review and agenda for future research. Journal of Small Business Management, 60(5), 1041–1079. https://doi.org/10.1080/00 472778.2021.2024216
57. Heinonen, K., & Strandvik, T. (2021). Reframing service innovation: COVID-19 as catalyst for imposed service innovation. Journal of Service Management, 32(1), 101–112. DOI.org/10.1108/JOSM-05-2020-0161
58. Heizer, J., Render, B., & Munson, C. (2020). Operations Management: Sustainability and Supply Chain Management (13^th Ed.). Pearson Education Inc
59. Hejazi, M., Alrusaini, O., & Beyari, H. (2022). The effect of artificial intelligence and payment flexibility on operational performance: The enabling role of supply chain risk management. Uncertain Supply Chain Management, 10(4), 1117–1130. DOI: 10.5267/j.uscm.2022.8.015
60. Hodgkinson, G.P. and Ford, J.K. (2014). Narrative, meta-analytic, and systematic reviews: What are the differences and why do they matter? Journal of Organizational Behaviour, 35, S1–S5. https://www.jstor.org/stable/26610871
61. Hohenstein, N.O., Feisel, E., Hartman, E., & Guinipero, L. (2015). Research on the phenomenon of supply chain resilience: A systematic review and paths for further investigation. International Journal of Physical Distribution & Logistics Management, 45(1/2), 90–117. doi.org/10.1108/09600035199500002
62. Horak, S., & Nihalani, K. (2016). Social networks, vertical core competencies and sales management in Korea. Management Decision, 4(8), 1929-1946. DOI: https://doi.org/10.1108/MD-06-2015-0230
63. House, W. J., Ikiara, G. & McCormick, D. (1990). The promotion of self-employment and small-scale enterprises in urban Kenya: A case study. Labour Market Analysis and Employment Planning, Working Paper No. 45. Geneva: International Labor Organization
64. Hossin. M., Azam, S., & Hossain, S. (2022). SMEs in Bangladesh: Concept, Status, and Contribution in Economic Development. Journal of Nawabganj Government College, 2(1). https://www.researchgate.net/publication/375182220
65. Hussain, A., Hussain, R., Akbar, M., Shahzad, A., Poulova, P., & Akbar, A. (2022). E-commerce and SME performance: The moderating influence of entrepreneurial competencies. Administrative Sciences, 12(1), 13. https://doi.org/10.3390/admsci1201001
66. Hughes, D., Lee, A., Tian, A., Newman, A., & Legood, A. (2018). Leadership, creativity, and innovation: A critical review and practical recommendations. The Leadership Quarterly, 9(5), 549-569. https://doi.org/10.1016/j.leaqua.2018.03.001
67. Hussain, A., Hussain, R., Akbar, M., Shahzad, A., Poulova, P., & Akbar, A. (2022). E-commerce and SME performance: The moderating influence of entrepreneurial competencies. Administrative Sciences, 12(1), 13. https://doi.org/10.3390/admsci1201001
68. Hutton, G. (2024). Business Statistics: Research Briefing. House of Commons Library, UK.
69. Jaskiewicz, P., Combs, J. G., & Rau, S. B. (2015). Entrepreneurial legacy: Toward a theory of how some family firms nurture transgenerational entrepreneurship. Journal of Business Venturing, 30(1), 29–49. https://doi.org/10.1016/j.jbusvent.2014.07.001
70. Jha, R., Sahoo, P., Smrutirekha (2022). Relevance of Disruptive Technologies- Led Knowledge Management System and Practices for MSMEs. In: Tuba, M., Akashe, S., Joshi, A. (Eds.). ICT Systems and Sustainability. Lecture Notes in Networks and Systems, Vol 321. Springer, Singapore. doi.org/10.1007/978-981-16-5987-4_15
71. Junaid, M., Zhang, Q., Cao, M., & Luqman, A. (2023). Nexus between technology-enabled supply chain dynamic capabilities, integration, resilience, and sustainable performance: An empirical examination of healthcare organizations. Technological Forecasting and Social Change, 196(122828), 1–19. https://doi.org/10.1016/j. techfore.2023.122828
72. Kamalahmadi, M., & Mellat-Parast, M. (2016). Developing a resilient supply chain through supplier flexibility and reliability assessment. International Journal of Production Research, 54, 302–321. https://doi.org/10.1080/ 00207543.2015.1088971
73. Kotsios, P. (2023). Business resilience skills for SMEs. Journal of Innovation and Entrepreneurship, 12(37). https://doi.org/10.1186/s13731-023-00304-0
74. Kumar, V., Sindhwani, R., Behl, A., Kaur, A.,& Pereira, V. (2023). Modeling and analysing the enablers of digital resilience for small and medium enterprises. Journal of Enterprise Information Management https://doi.org/10.1108/JEIM-01-2023-0002
75. Kenya National Bureau of Statistics (KNBS) (2016). Micro, Small, and Medium Establishment (MSME) Survey. KNBS
76. KNBS, (2020). Economic Survey 2020. KNBS
77. Kuratko, D. F. (2011). Entrepreneurship theory, process, and practice in the 21st century. International Journal of Entrepreneurship and Small Business, 13(1), 8–17. https://doi.org/10.1504/IJESB.2011.040412
78. Lampel, J., Bhalla, A., & Jha, P.P. (2014). Does governance confer organisational resilience? evidence from the UK, employee-owned businesses. European Management Journal, 32(1), 66–72.
79. Li, B., Zhong, Y. Y., Zhang, T., & Hua, N. (2021). Transcending the COVID-19 crisis: Business resilience and innovation of the restaurant industry in China. Journal of Hospitality and Tourism Management, 49, 44–53. https://doi.org/10.1016/j. jhtm.2021.08.024
80. Linnenluecke, M. K. (2017). Resilience in business and management research: A review of influential publications and a research agenda. International Journal of Management Reviews, 19(1), 4–30. https:// doi.org/10.1111/ijmr.12076
81. Lotfi, M., & Saghiri, S. (2018). Disentangling resilience, agility, and leanness. Journal of Manufacturing Technology Management, 29, 168–197. https://doi.org/10.1108/ JMTM-01-2017-0014
82. Lumpkin, G. T., & Dess, G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 21(1), 135–172. https://doi.org/10.2307/258632
83. Lütjen, H., Schultz, C., Tietze, F., & Urmetzer, F. (2019). Managing ecosystems for service innovation: A dynamic capability view. Journal of Business Research, 104, 506–519. https://doi.org/10.1016/j.jbusres.2019.06.001
84. Mackay, J., Munoz, A., & Pepper, M. (2019). Conceptualising redundancy and flexibility toward the supply Chain robustness and resilience. Journal of Risk Research, 1–21. https://doi.org/10.1080/13669877.2019.1694964, 0
85. Man, T. W. Y., & Lau, T. (2000). Entrepreneurial Competencies of SME Owner/Managers in The Hongkong Services Sector: A Qualitative Analysis. Journal of Enterprising Culture, 08(03), 235–254. https://doi.org/10.1142/S0218495800000139
86. Martin, R., & Sunley, P. (2015). On the notion of regional economic resilience: conceptualization and explanation. Journal of Economic Geography, 15(1), 1–42. https://doi.org/10.1093/jeg/lbu015
87. Matarazzo, M., Penco, L., Profumo, G., & Quaglia, R. (2021). Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective. Journal of Business Research, 123, 642–656. https://doi.org/10.1016/j. jbusres.2020.10.033
88. Mattsson, K., & Wallenberg, L. (2003). Making strategic alliance work. Research Technology Management. New York, Prentice Hall.
89. Meressa, H.A. (2020). Growth of micro and small-scale enterprises and its driving factors: empirical evidence from entrepreneurs in emerging region of Ethiopia. Journal of Innovation and Entrepreneurship, 9(11). https://doi.org/10.1186/s13731-020-00121-9
90. Milder, B. (2008). Closing the gap: Reaching the missing middle and rural poor through value chain finance. Enterprise Development & Microfinance, 19(4). DOI. 10.3362/1755-1986.2008.027
91. Mintzberg, H. (1973). The Nature of Managerial Work. New York: Harper & Row.
92. Mohezar, S., Mohamad, M. N., & Nor, M. N. (2023). Supply chain risk and SME business continuity strategies in the food industry during the COVID-19 pandemic. Continuity & Resilience Review, 5(2), 116–134
93. Mondragon, G., Casinillo, L. & Salabao, A. (2023). Characterizing the Resilience of Micro, Small, and Medium Enterprises (MSMEs) and Its Causal Determinants Amid the Health Crisis. Philippine Social Science Journal, 6(3). DOI: https://doi.org/10.52006/main.v6i3.751
94. Muninger, M.I., Mahr, D., & Hammedi, W. (2022). Social media use: A review of innovation management practices. Journal of Business Research, 143, 140–156. https://doi.org/10.1016/j.jbusres.2022.01.039
95. Mwaura, M. (1994). Profiles and adaptive strategies of owner-managers of medium-sized firms in Kenya. Unpublished doctoral dissertation, University of Illinois at Urbana-Champaign, Urbana.
96. Nalebuff, B.J. & Brandenburger, A.M. (1997). Co-opetition. London, HarperCollins Business
97. Nelson, R. & Johnson, S. (1997). Entrepreneurship Education as a strategic approach to Economic growth in Kenya. Journal of Industrial Teacher Education, 35(1), .8-19
98. Neumeyer, X., & Santos, S.C. (2018). Sustainable business models, venture typologies, and entrepreneurial ecosystems: A social network perspective. Journal of Cleaner Production,172, 4565-4579. Doi: 10.1016/j.jclepro.2017.08.216
99. Nikolaev, B., Boudreaux, C. J., & Wood, M. (2020). Entrepreneurship and subjective well-being: The mediating role of psychological functioning. Entrepreneurship Theory & Practice, 44(3), 557–586. https://doi.org/10.1177/10422 58719830314
100. Ogunjemilua, E.,  Olaposi, T. & Ilori, M. (Dec, 2015). Impact of Knowledge and Network Ties on the Performance of Micro and Small Technical Enterprises in Southwestern Nigeria. Journal of Entrepreneurship and Innovation Management, 4(2). https://ssrn.com/abstract=3148419
101. Ortiz-de-Mandojana, N., & Bansal, P. (2015). The long-term benefits of organizational resilience through sustainable business practices. Strategic Management Journal, 1–43. https://doi.org/10.1002/smj
102. Pal, R., Torstensson, H. & Mattila, H. (2014), Antecedents of organizational resilience in economic crises–an empirical study of Swedish textile and clothing SMEs. International Journal of Production Economics, 147(Part B) ,410–428
103. Page, J., & Söderbom, M. (2015). Is small beautiful? Small enterprise, aid and employment in Africa. African Development Review, 27(S1), 44–55. https://doi.org/ 10.1111/1467-8268.12138
104. Papagiannidis, S., Harris, J., & Morton, D. (2020). WHO-led the digital transformation of your company? A reflection of IT-related challenges during the pandemic. International Journal of Information Management, 55(102-166), 1–5. https://doi.org/ 10.1016/j.ijinfomgt.2020.102166
105. Pesce M., Kirova M., Soma K., Bogaardt M-J., Poppe K., Thurston C., Monfort Belles C, et al., ( 2019). Research for AGRI Committee – Impacts of the digital economy on the food chain and the CAP, European Parliament, Policy Department for Structural and Cohesion Policies, Brussels. http://www.europarl.europa.eu/thinktank/en/document. HTML? Reference=IPOL_STU (2018)629192
106. Pevkur, A. (2024). Position Paper: Resilience in SMEs— What Philosophy and Ethics Got to Do with It? In S. Durst, T. Henschel (eds.), Small and Medium-Sized Enterprise (SME) Resilience, Management for Professionals. Springer Nature, Switzerland AG., https://doi.org/10.1007/978-3-031-50836-3_15
107. Pfeffer, J., & Salancik, G. R. 1978. The external control of organizations: A resource dependence perspective. New York: Harper & Row.
108. Purbasari, R., Wijaya, C., & Rahayu, N. (2020). Most roles actors play in entrepreneurial ecosystem: A network theory perspective. Journal of Entrepreneurship Education, 23(2). https://www.abacademies.org/articles–9034
109. Purvis, L., Spall, S., Naim, M., & Spiegler, V. (2016). Developing a resilient supply chain strategy during ‘boom’ and ‘bust. Production Planning & Control, 27, 579–590. https://doi.org/10.1080/09537287.2016.1165306.
110. PWC Philippines. (2020). COVID-19 Business Impact Survey. Unpublished Internal PwC Report:
111. Rastegar, R., Seyfi, S., & Shahi, T. (2023): Tourism SMEs’ resilience strategies amidst the COVID-19 crisis: the story of survival. Tourism Recreation Research. DOI: 10.1080/02508281.2023.2233073
112. Republic of Kenya (2012). Micro and Small Enterprises Act 2012. National Council for Law Reporting.
113. Robert, P., Dana, Y., & Dmitriy, P. (2022) Strategic Agility or Resilience: What Should SMEs Focus on During the Crisis? Scientific Goals and Purposes in XXI Century No. 95. DOI 10.51582/interconf.19-20.01.2022.007
114. Roffia, P. & Dabiĉ, M. (2023). The role of management control and integrated information systems for the resilience of SMEs. Review of Managerial Science, 18, 1353-1375. doi.org/10.1007/s11846-023-0657-6.
115. Rothaermel, F.T. (2023). Strategic Management: Concepts and Cases (6^th Ed.). New York, McGraw-Hill
116. Saad, M., Hagelaar, G., van der Velde, G., & Omta,S. (2021) Conceptualization of SMEs’ business resilience: A systematic literature review. Cogent Business & Management, 8(1), 1938347, DOI: 10.1080/23311975.2021.1938347.
117. Santos, S. C., et al. (2023). How digitalization reinvented entrepreneurial resilience during COVID-19. Technological Forecasting and Social Change, 189, 122398. https://doi. org/10.1016/j.
118. Sari, P. A., Sari, W. P., & Rinaldo, D. (2022). Business performance during the COVID-19 crisis: a major contribution of entrepreneurial resilience. Studia Polityki Publicznej, 9(2 (34)), 63–82
119. Sasu, D.D. (2023). Overview of the economic contribution of SMEs in Ghana 2023, by category. Statista 2024. www.statistica.com
120. Sawalha, 2015). Sawalha, I.H.S. (2015). Managing adversity: understanding some dimensions of organizational Resilience. Management Research Review, 38(4), 346–366
121. Scholten, K., & Schilder, S. (2015). The role of collaboration in supply chain resilience. Supply Chain Management, 20, 471–484. https://doi.org/10.1108/SCM-11-2014- 0386
122. Seville, E., Van Opstal, D. & Vargo, J. (2015). A Primer in Resiliency: Seven Principles for Managing the Unexpected. Global Business and Organizational Excellence, 34(3), 6–18 DOI: 10.1002/joe.21600
123. Shashi, Centobelli, P., Cerchione, R., & Ertz, M. (2020). Managing supply chain resilience to pursue business and environmental strategies. Business Strategy and the Environment, 29, 1215–1246. https://doi.org/10.1002/bse.2428
124. Sharma, P. N., Liengaard, B. D., Sarstedt, M., Hair, J. F., & Ringle, C. M. (2022). Extraordinary Claims Require Extraordinary Evidence: A Comment on ‘Recent Developments in PLS. Communications of the Association for Information Systems, 44(1), 123–134. https://www.researchgate.net/publication/357689538.
125. Shepherd, D. A., Saade, F. P., & Wincent, J. (2020). How to circumvent adversity? Refugee-entrepreneurs’ resilience in the face of substantial and persistent adversity. Journal of Business Venturing, 35(4), 105940. https://doi. org/10.1016/j.jbusvent.2019.06.001
126. Shepherd, D. A., & Patzelt, H. (2011). The new field of sustainable entrepreneurship: studying entrepreneurial action linking “what is to be sustained” with “what is to be developed”. Entrepreneurship Theory and Practice, 35(1), 137–163. https://doi.org/10.1111/j.1540-6520.2010.00426.x
127. Skouloudis, A., Filho, W. L., Deligiannakis, G., Vouros, P., Nikolaou, I. & Evangelinos, K. (2022). Coping with floods: impacts, preparedness and resilience capacity of Greek micro-, small- and medium-sized enterprises in flood-affected areas. International Journal of Climate Change Strategies and Management, 15(1). 81-103. DOI 10.1108/IJCCSM-09-2022-0122
128. Si, S., Hall, J., Suddaby, R., Ahlstrom, D., & Wei, J. (2023). Technology, entrepreneurship, innovation and social change in digital economics. Technovation, 119(102484), 1–10. https://doi.org/10.1016/j.technovation.2022.102484
129. Sobir, R. (2020). Micro-, Small and Medium-sized Enterprises (MSMEs) and their role in achieving the Sustainable Development Goals. United Nations. sdgs.un.org 
130. Snihur, Y. & Eisenhardt, K.M. (2022). Looking Forward, Looking Back: Strategic Organization and the Business Model Concept. Strategic Organization. DOI: 10.1177/14761270221122442
131. Stone, J. & Rahimifard, S. (2018). Resilience in agri-food supply chains: A critical analysis of the literature and synthesis of a novel framework. Supply Chain Management, 23, 207–238. DOI.org/10.1108/SCM-06-2017-0201
132. Su, W., & Junge, S. (2023). Unlocking the recipe for organizational resilience: A review and future research directions. European Management Journal. https://doi.org/ 10.1016/j.emj.2023.03.002
133. Sull, D. (2010). Competing through organizational agility. McKinsey Quarterly. 2010(1). www.McKinsey.com
134. Sundström, G. & Hollnagel, E. (2006). Learning how to create resilience in business systems. In Hollnagel, E., Woods, D. & Leveson, N. (Eds.). Resilience Engineering: Concepts and Precepts, Ashgate Publishing, Farnham, UK
135. Susilawati, M. (2024) Entrepreneurial Resilience: Strategies for MSMEs to Navigate Uncertainties and Challenges in Contemporary Markets. International Journal of Business, Law and Education, 5(2). https://ijble.com/index.php/journal/index
136. Tamvada, J. P., Narula, S., Audretsch, D., Puppala, H., & Kumar, A. (2022). Adopting new technology is distant dream? The risks of implementing Industry 4.0 in emerging economy SMEs. Technological Forecasting and Social Change, 185, 122088. https://doi.org/10.1016/j.techfore.2022.122088
137. Tan, K. H., Ali, M. H., Makhbul, Z. M., & Ismail, A. (2017). The impact of external integration on halal food integrity. Supply Chain Management, 22(2) 186–199. https://doi.org/10.1108/SCM-05-2016-0171
138. Teece, D. J. (2014). The Foundations Of Enterprise Performance: Dynamic And Ordinary Capabilities In An (Economic) Theory Of Firms. Academy Of Management Perspectives, 28(4), 328-352. http://dx.doi.org/10.5465/Amp.2013.0116
139. Teece, D. (2012). Dynamic capabilities: Routines Versus Entrepreneurial Action. Journal of Management Studies, 49(8), 1395-1401.https://doi.org/10.1111/j.1467-6486.2012.01080.x
140. Teece, D. (2009). Dynamic capabilities and strategic management: Organizing for innovation and growth. New York: Oxford University Press.
141. Teece, D., & Pisano, G. (2004). Chapter 42: The Dynamic Capabilities of Firms. In, The Handbook on Knowledge Management 2: Knowledge Directions (pp. 195-213. http://dx.doi.org/10.1002/(SICI)1097-0266(199708)18:73.0.CO;2-Z
142. Teece, D., Pisano, G.& Shuan, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 537–533. http://dx.doi.org/10.1002/(SICI)1097-0266(199708)18:73.0.CO;2-Z
143. Thekkote, R. (2023). Factors influencing small and medium-sized enterprise (SME) resilience during the COVID-19 outbreak. The TQM Journal, 36(2), 523-545. https://doi.org/10.1108/TQM-08-2022-0266
144. Tjahjadi, A.M., Purwandari, C.A., Massie, N.W.G. (2019). Recent Development of Small Medium Enterprises’ Businesses Profitability: Evidence from Indonesia. A Conference Paper. DOI: 10.5220/0008429001830189
145. Tukamuhabwa, B. R., Stevenson, M., Busby, J., & Zorzini, M. (2015). Supply chain resilience: Definition, review and theoretical foundations for further study. International Journal of Production Research, 53, 5592–5623. https://doi.org/ 10.1080/00207543.2015.1037934
146. United Nations. (2015). Transforming our world: the 2030 Agenda for Sustainable Development. https://sdgs.un. org/2030agenda
147. Vandersypen, W., Claes, C., & Serneels, S. (2023). Impact Investing for the Missing Middle in Agri-Finance. Stanford Social Innovation Review. https://doi.org/10.48558/HDGK-AR18
148. Vargo, J., & Seville, E. (2011). Crisis strategic planning for SMEs: finding the silver lining. International Journal of Production Research, 49(18), 5619–5635.
149. Vershinina, N., & Rodgers, P. (2023). Self-regulation, micro-foundations, and migrant entrepreneurs’ capacities for resilience. Entrepreneurship and Regional Development, 35(7-8), 644-665. DOI: 10.1080/08985626.2023.2216174
150. Vershinina, N. and Rodgers, P. (2019). Migration, enterprise and society. International Journal of Entrepreneurial Behaviour & Research, 25(5), 774-779. DOI 10.1108/IJEBR-08-2019-818
151. Viffa Consult (2019). SME Performance Index, 2020. Nairobi: https://viffaconsult.co.ke/wp-content/uploads/2020/12/SME-PERFOMANCE-INDEX-2020.pdf.
152. Viscera, M.A., Mullooly, J.J., & Melchor, P.C. (2021). The strength of formal weak ties: The vital role of formal institutional networks for America’s disconnected youth. Journal of Rural Studies. 88, 205-213. https://doi.org/10.1016/j.jrurstud.2021.10.018
153. Vogus, T. J., & Sutcliffe, K. M. (2007). Organizational resilience: Towards a theory and research agenda. In 2007 IEEE international conference on systems, man, and cybernetics. https://doi. org/10.1109/ICSMC.2007.4414160
154. Wagner, P.; Ocelík, P., Gronow, A., Ylä-Anttila, T., Schmidt, L. & Delicado, A. (2021). Network ties, institutional roles and advocacy tactics: Exploring explanations for perceptions of influence in climate change policy networks. Social Networks, 75, 78-87. https://doi.org/10.1016/j.socnet.2021.11.008
155. Williams, T. A., Thorgren, S., & Lindh, I. (2019). Rising from failure, staying down, or more of the same? An inductive study of entrepreneurial re-entry. Academy of Management Discoveries, 6(4). https://doi.org/ 10.5465/amd.2018.0047
156. Wirtz, B., Pistoia, A., Ullrich, S. & Göttel, V. (2016). Business Models: Origin, Development and Future Research Perspectives. Long Range Planning, 49(1), 36-54. https://doi.org/10.1016/j.lrp.2015.04.001.
157. World Bank (2019). SME Finances: Improving SME’s access to finance and funding innovative solutions to unlock sources of capital. http://www.worldbank.org/en/topic/smefinance
158. Xie, X., Wu, Y., Palacios-Marques, D., & Ribeiro-Navarrete, S. (2022). Business networks and organizational resilience capacity in the digital age during COVID-19: A perspective utilizing organizational information processing theory. Technological Forecasting and Social Change, 177(121548), 1–16. https://doi.org/10.1016/j. techfore.2022.121548
159. Yeng, Y., Tseng, J., & Wang, H. (2015). The effect of internal social capital on Knowledge sharing. Knowledge Management Research and Practice, 13(2), 214–224. https://doi.org/10.1057/kmrp.2013.43
160. Zighan, S., Abualqumboz, M., Dwaikat, N., & Alkalha, Z. (2022). The role of entrepreneurial orientation in developing SMEs resilience capabilities throughout COVID-19. The International Journal of Entrepreneurship and Innovation, 23(4), 227–239. https://doi.org/10.1177/1465750321104684
161. Zutshi, A.; Mendy, J.; Sharma, G.D.; Thomas, A.; Sarker, T. (2021). From Challenges to Creativity: Enhancing SMEs’ Resilience in the Context of COVID-19. Sustainability, 13, 6542. https://doi.org/ 10.3390/su13126542