business report

Annotated Bibliography: Expansion from Small to Medium-Sized Company

Growing from a small to medium size enterprise by expanding the human resources from 15 to at least 50 employees requires a number of strategic undertakings. The strategic undertakings include innovation to achieve product expansion, external knowledge management to achieve market penetration, resource mobilization and sustainability consideration that are all geared towards efficiency in performance. This paper therefore seeks to provide a brief description of the articles that provide insight into the strategic undertakings for the purposes of expanding Liquid Organization from Small to Medium-size organization.

Brunswicker, S., & Vanhaverbeke, W. (2015). Open innovation in small and medium‐sized enterprises (SMEs): External knowledge sourcing strategies and internal organizational facilitators. Journal of Small Business Management, 53(4), 1241-1263.

This article explores the concept of open innovation in small and medium size enterprises as the efficiency in internal facilitators. The authors point out that open innovation entails a combination of external knowledge sourcing and internal organizational facilitators that drive the growth agenda through innovation. The rationale behind this paper is that growth of an organization that falls under the SME category is predicated upon innovation and that open innovation is the driving force behind performance.

Laufs, K., & Schwens, C. (2014). Foreign market entry mode choice of small and medium-sized enterprises: A systematic review and future research agenda. International Business Review, 23(6), 1109-1126.

While pursuing the prospects of growth in a competitive market for SMEs, the authors of this article propose market penetration and expansion. The article appreciates the fact that SMEs most operate locally and that very little in terms of cross-border operations is considered. The article therefore postulates that for any meaningful growth of a small and medium organization within a crowded market, the best breakthrough would come from market expansion and penetration into foreign markets.

Johnson, M. P. (2015). Sustainability management and small and medium‐sized enterprises: Managers' awareness and implementation of innovative tools. Corporate Social Responsibility and Environmental Management, 22(5), 271-285.

This article explores a rather more interesting perspective to growth of an SME. The article brings in the issue of sustainability management as the prerequisite of growth in this category of organization. In essence, expanding the human resources must be accompanied by a consideration of the corporate social responsibility and environmental management. A manager must therefore intermarry the innovative strategies to CSR and environmental consideration for the expansion and growth to be sustainable. In essence, the article postulates that expansion must be accompanied by sustainability strategies.

Halme, M., & Korpela, M. (2014). Responsible innovation toward sustainable development in small and medium‐sized enterprises: a resource perspective. Business Strategy and the Environment, 23(8), 547-566.

This article also emphasizes the aspect of responsibility in innovation. While implementing innovation, the article postulates that responsibility must be taken into account for the development of SME to be sustainable. The sustainability is from an environmental and resource perspective. Therefore, the article asserts that for any meaningful development, resources must be utilized responsibly, CRS must be upheld and an organization must purpose to protect the environment form externalities of its activities.

References

Brunswicker, S., & Vanhaverbeke, W. (2015). Open innovation in small and medium‐sized enterprises (SMEs): External knowledge sourcing strategies and internal organizational facilitators. Journal of Small Business Management, 53(4), 1241-1263.

Halme, M., & Korpela, M. (2014). Responsible innovation toward sustainable development in small and medium‐sized enterprises: a resource perspective. Business Strategy and the Environment, 23(8), 547-566.

Johnson, M. P. (2015). Sustainability management and small and medium‐sized enterprises: Managers' awareness and implementation of innovative tools. Corporate Social Responsibility and Environmental Management, 22(5), 271-285.

Laufs, K., & Schwens, C. (2014). Foreign market entry mode choice of small and medium-sized enterprises: A systematic review and future research agenda. International Business Review, 23(6), 1109-1126.