An Explanatory Framework for the Growth of Small and Medium Enterprises: A System Dynamics Approach

摘要

This study aims to develop an explanatory framework for the growth of small and medium enterprises (SMEs), which is a concept that has not been adequately developed in the literature. Various published models were reviewed and critiqued, and we especially focused on the stages model. Additionally, a greater understanding of the nature of the growth of SMEs has been elicited from the mental models of domain experts. A case study of a fast-growing small-to-medium enterprise was conducted, and a full-fledged simulation model was crafted by integrating experts' mental models with the current state of the art in scientific theories. The model was validated against various reference modes. Finally, a future research road-map based on various case studies was proposed to further enhance and corroborate our framework.