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Configuring a Quadruple Helix Innovation Model (QHIM) Based Blueprint for Malaysian SMEs to Survivethe Covid-19 Pandemic

Author

Listed:
  • Ariful Islam
  • Sazali Abd Wahab

Abstract

Purpose: The study aims to serve a wider understanding of how an adjustable configuration of different strategic initiatives can help Malaysian SMEs to endure through the crisis on basis of QHIM mechanism. Design/Methodology/Approach: The study has embraced a qualitative approach on basis of online focus group discussion with the support of an expert facilitator. The data collection process includes 10 participants from various fields, such as academia; banking, NGOs and SMEs. The study also collected secondary information through different newspapers, magazines, websites, E-libraries, documentaries, and related journal sources. Findings: Because SMEs are operating in uncertain conditions, the findings from the discussions suggest that an adjustable integration of various ranges of initiatives, such as access and management of financial resources, exploration-exploitation of opportunities, efficient negotiation, digital adoption, and leadership commitment can help SMEs to endure throughout this crisis. The findings also contend the intervention of innovation and calculated risk-taking within the configuration. Research limitation: Prior empirical attempts are subsequently required to inquiry about the proposed model for Malaysian SMEs from different perspectives. Also besides a smaller sample size also creates an issue with generalisability. Practical implications: The proposed conceptual model serves as an important mechanism for policy-makers and owner-manager of SMEs to understand how adjustments in identified initiatives can play a vital role regarding survival in this crisis. It provides recommendations for SMEs and on how to remain competitive through resilience and renewal strategies. Originality/Value: The study contributes to the existing literature in crisis management and identifies the survival and resilience strategies of SMEs in developing regions during a long-lasting crisis. It also serves as a unique approach to how the Helix mechanism can be a vital concept in the survival process.

Suggested Citation

  • Ariful Islam & Sazali Abd Wahab, 2023. "Configuring a Quadruple Helix Innovation Model (QHIM) Based Blueprint for Malaysian SMEs to Survivethe Covid-19 Pandemic," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 13(1), pages 102-127.
    • Handle: RePEc:ers:ijfirm:v:13:y:2023:i:1:p:102-127
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    References listed on IDEAS

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    More about this item

    Keywords

    COVID-19; Crisis management; Exploration-exploitation; Innovation.;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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