HOW LOCAL SME BUSINESS CAN DEFEAT BIG MULTINATIONAL COMPANIES NOWADAYS?-Reference-Cited by-同舟云学术

HOW LOCAL SME BUSINESS CAN DEFEAT BIG MULTINATIONAL COMPANIES NOWADAYS?

Published:2023-05-12 Issue: Volume: Page:
ISSN:2029-929X
Container-title:International Scientific Conference „Business and Management“
language:
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Author:

Petrenko Konstantin¹^ORCID

Affiliation:

1. Independent business consultant, Irpin, Pokrovska street 1b, Ukraine

Abstract

There is perception within business community of multinational companies (MNC) that Small-Middle Size enterprises (SME) have limited potential to compete with them. The purpose of the study was to explore successful SMEs competitive advantages vs. their MNCs rivals on local markets. Technology SMEs with bigger to MNCs market shares and above average maturity level were selected for this study. Three production industry sectors were chosen: household chemistry, electrical/electronic assembly, and chemical products. Methodology was an assessment of SMEs and MNCs competitive advantages enablers by their soft and hard nature, performed by individual interviews and questionnaires. It was found that in order to successfully compete with MNCs, SMEs can use the right set of dominantly soft elements of organizational structure: selected ranger of operational strategies, skills and values such as deep relationships with customers, flexible agile response to their needs, niche bespoke products based on strong technology expertise, lean organizational structure and entrepreneurial behaviors. Some examples are given.

Publisher

Vilnius Gediminas Technical University

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