An Innovative Enterprise Model for Successful Enterprises in Albay: A Case Study
DOI:
https://doi.org/10.69569/jip.2025.317Keywords:
Albay, Innovative Enterprise Model, Small-Medium Enterprises (SMEs), SuccessfulAbstract
This study develops an innovative enterprise model for Small and Medium-sized Enterprises (SMEs) by examining successful businesses in Albay to understand their strategies for overcoming business challenges and achieving sustainable growth. Data was collected through interviews, observation, and documentation from 10 SMEs in Albay, focusing on eleven key business areas including leadership, strategic planning, and financial performance. A descriptive-evaluative case study approach was used, drawing on William Lazonick’s Theory of Innovative Enterprise, the SECI Model, and the Plan-Do-Check-Act (PDCA) cycle. The research identified adaptive leadership, strategic innovation, strong core values, technology utilization, and robust networks as critical success factors. Key challenges included supply chain management, product quality, adapting to market changes, employee retention, and financial constraints. These were addressed through proactive strategies and partnerships. The primary outcome is a practical enterprise model that integrates success factors and an adaptive approach, providing actionable insights for SME growth and resilience in the evolving economic conditions of the province of Albay.
Downloads
References
Abdul-Azeez, O., Ihechere, A. O., & Idemudia, C. (2024). SMEs as catalysts for economic development: Navigating challenges and seizing opportunities in emerging markets. https://doi.org/10.30574/gscarr.2024.19.3.0230
Belas, J., Amoah, J., Petrakova, Z., & Kliuchnika, Y. (2020). Selected factors of SMEs management in the service sector. Journal of Tourism and Services, 21(11), 129-146. https://doi.org/10.29036/jots.v11i21.215
Budianto, R., Praptapa, A., Herwiyanti, E., & Puji, P. (2022). Technological innovation in Small and Medium Enterprises: A bibliometric analysis. Journal of Sustainable Tourism and Entrepreneurship (JoSTE), 4(1), 55-69. https://doi.org/10.35912/joste.v4i1.1707
Dung, L. T., & Dung, T. T. H. (2024). Business model innovation: A key role in the internationalization of SMEs in the era of digitalization. Journal of Innovation and Entrepreneurship. https://doi.org/10.1186/s13731-024-00391-7
Farnese, M. L., Barbieri, B., Chirumbolo, A., & Patriotta, G. (2019). Managing knowledge in organizations: A Nonaka’s SECI Model Operationalization. https://doi.org/10.3389/fpsyg.2019.02730
Gamundoy, L. A. U., Bucal, R. J., & Em, F. S. (2020). Challenges of Small and Medium Enterprises towards Progress. JPAIR Multidisciplinary Research, 42(1). https://doi.org/10.7719/jpair.v42i1.804
Li, X., Fan, Y., & Mei, X. (2019). Research on Enterprise Management Model Innovation under the Background of Big Data Era. Journal of Advanced Management Science. Retrieved from https://tinyurl.com/mr34hmcz
Mendoza, R. R. (2015). Financial performance of Micro, Small, and Medium Enterprises (MSMEs) in the Philippines. International Journal of Business and Finance Research. DOI: 10.18374/IJBR-15-5.4
Miranda, A. T., & Miranda, J. L. F. (2018). Status and conditions of small- and medium-sized enterprises as predictors in empowering rural communities in Samar Island, Philippines. https://doi.org/10.1108/APJIE-12-2017-0045
Muller, J. M. (2019). Business model innovation in small- and medium-sized enterprises: Strategies for industry 4.0 providers and users. Journal of Manufacturing Technology Management. https://doi.org/10.1108/JMTM-01-2018-0008
Nasser, A. T. T. (2022). Competitiveness of Micro, Small, and Medium Entrepreneurs during Economic Disruption. JPAIR Multidisciplinary Research, 49(1). https://doi.org/10.7719/jpair.v49i1.641
Odei, A. A., & Hamplova, E. (2022). Innovations in small businesses: Do public procurement contracts and intellectual property rights matter? https://doi.org/10.1016/j.heliyon.2022.e10623
Torkkeli, L., Nummela, N., & Saarenketo, S. (2018). A global mindset – still a prerequisite for successful SME internationalization? International Business and Management, 34. https://doi.org/10.1108/S1876-066X20180000034001
Villar, C., & Pla-Barber, J. (2018). The high-performing SMEs in traditional manufacturing sectors: Innovation and foreign operation modes. International Business and Management. https://doi.org/10.1108/S1876-066X20180000034005
Yahaya, H. D., & Nadarajah, G. (2023). Determining key factors influencing SMEs’ performance: A systematic literature review and experts’ verification. https://doi.org/10.1080/23311975.2023.2251195
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Journal of Interdisciplinary Perspectives
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
