Factors of Intensification of SME Resources under External Uncertainty

Small and medium-sized enterprises (SMEs) represent a dynamic and significant component of economic development in leading countries and regions, accounting for more than fifty percent of their gross domestic and regional product growth. In the context of the Russian economy, the contribution of SMEs to the country's economic welfare over the past ten years is only twenty percent showing no significant positive trend. Russia lags significantly behind the leading countries, which is due, among other things, to a threefold productivity gap in the SME sector.
At the same time, the phenomenon of successful SMEs is one of the key challenges addressed by the international academic community. Being flexible organizational structures that are capable of proactive actions and rapid response to the challenges of the external environment, SMEs, as a rule, are significantly limited in financial and economic opportunities to achieve their goals. It requires developing the relevant management tools at the firm level and targeted methods of economic policy at the regional and national levels. Given the scientific significance of the study of SMEs and the relevance of increasing the number of SMEs, this project aims to address the problem of SME development in a highly uncertain external environment.

The scientific novelty of the project is determined, first, by the development of the Recourse Based View (Barney, 1991) by building new models of SME behavior in a highly uncertain environment; second, by developing the concept of intellectual capital (Stewart, 2001) by enriching it by taking digital technology into account; third, by improving the methodology of SME behavior research based on open data analysis, application of machine learning and textual analysis tools; fourth, generating new empirical knowledge on the key factors, both external and internal, for SME development.

The practical implication of the project is the preparation of methodical recommendations for SMEs on information disclosure and the creation of a positive digital image on the Internet. The project is based on modern methods of data collection, processing, and analysis, involves active cooperation with representatives of small and medium-sized enterprises and government representatives focused on creating a favorable environment for the development of SMEs.

The study intends to create a scientific basis for diagnosing the critical factors of innovative development of SMEs and identifying the conditions for their activation.

Given the classical division into exogenous and endogenous factors in relation to SMEs, this study, on the one hand, will be aimed at identifying the most effective government regulatory programs and support measures, on the other hand, will focus on what SMEs themselves can do to increase their stability and development, investment attractiveness and financial performance.

The project is expected to achieve internationally recognized results in strategic management, economics, and SME governance.

Results defining a contribution to the development of the Resource-Based View and the Intellectual Capital theories:

• Development of a conceptual model for the intensification of SME resources in a highly uncertain environment.
• Development of principles for the formation of a digital image of SMEs.

Results elaborating on methodological aspects of management and economics of SMEs:

• Development of a system of metrics for diagnosing the digital intellectual capital of SMEs.
• Development of a program code for collecting data from open sources regarding the disclosure of information on measures of state support for SMEs on the official websites of the relevant ministries and departments.
• Development of a program code for the analysis of textual data regarding the image of SMEs.

Results reflecting new empirical knowledge:

• Estimating the impact of digital intellectual capital on the performance of SMEs.
• Description of the best practices for intensive growth of SMEs in an environment of high uncertainty.
• Estimating the effectiveness of government support for SMEs.

Based on the results of the study, it is planned to develop a toolkit for assessing the effectiveness of government support measures for SMEs and guidelines for SMEs on information disclosure and creating a positive digital image in the Internet.