SME Growth Synergy: Systematic Review of Resource, Knowledge, and Leadership Theories

Abstract

This systematic literature review explores the strategic synergy of small and medium-sized enterprises (SMEs) growth, integrating the resource-based view (RBV), knowledge-based view (KBV), and upper echelon theory (UET). A desk-based review was conducted to examine several studies that applied the model. Search engines like Google Scholar were utilized to explore reputable international journals like Emerald. In total, 20 articles published between 2018 and 2024 were selected. These were analyzed using the Joanna Briggs Institute (JBI) Critical Appraisal Tools, and the review identified a “Resource-Knowledge-Leadership Nexus” as crucial for optimizing SME growth. A complex interplay of unique resources, knowledge management capabilities, and leadership characteristics drives SME growth. The study highlights the importance of developing dynamic capabilities in SMEs and the need for SMEs to balance exploiting existing resources and knowledge with exploring new opportunities guided by strategic leadership. The study suggests that SMEs should develop strategies for allocating resources effectively, including investing in knowledge and innovation, fostering a culture of innovation, encouraging experimentation and learning, and also investing in developing top management teams with the necessary experience, leadership style, and knowledge to drive growth.