Dynamic Skills for Achieving Profitability and Long-term Sustainability of Start-up MSMEs
Keywords:
dynamic skills; profitability; competitiveness; sustainability; MSMEs.Abstract
In a digitally evolving and competitive business environment, start-up micro, small, and medium-sized enterprises (MSMEs) encounter various dynamics that shape their profitability and sustainability. This research synthesises existing literature published between 2010 and 2023 to explore and identify the key dynamic skills that drive start-up MSMEs' profitability and long-term sustainability. A comprehensive search was conducted across Scopus, Web of Science, Google Scholar, and Emerald databases. Selected articles were categorised, and the key themes related to dynamic skills were extracted and analysed. The review identifies nine key dynamic skills essential for start-up MSMEs' profitability and long-term sustainability. These include sales and marketing, customer service, networking and industrial relationships, negotiation, financial management, cross-cultural communication, leadership and problem-solving, digital fluency, and entrepreneurial skills. These skills enable MSMEs to navigate the challenges of the digital era, maintain a competitive advantage, and achieve long-term sustainability. The study findings provide valuable insights for entrepreneurs, policymakers, and support organisations. By focusing on developing dynamic skills, start-up MSMEs can enhance their resilience and adaptability in a rapidly changing and competitive business environment. Policymakers and support organisations can also use these results to design programs that address the specific needs of MSMEs. Empirically, the study contributes to the existing literature by offering a comprehensive understanding of the skill sets required for sustainable growth and success of MSMEs. It also provides a foundation for future research and practice in this research domain.References
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