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Networks, business models, and competitiveness in small Finnish firms

Author

Listed:
  • Mika Westerlund
  • Diane A. Isabelle
  • Risto Rajala
  • Seppo Leminen

Abstract

Small firms must design business models that leverage the resources of others to succeed in domestic and global markets. This study investigates the variance in business models of small firms seeking to prosper through networking within an intensely competitive landscape. We use explorative quantitative methods to analyse the link between networking, business models and financial performance of 90 small and industrial Finnish firms. The results reveal five types of business models: two of them are oriented internationally and three are oriented domestically. We mapped these business model types within a financial outcomes matrix to capture the differences in business model performance and found that competitiveness and financial performance of small firms under globalisation depend on their business model and networking strategy. In particular, inter-organisational networking contributes to sales growth and international expansion contributes to improved profitability.

Suggested Citation

  • Mika Westerlund & Diane A. Isabelle & Risto Rajala & Seppo Leminen, 2017. "Networks, business models, and competitiveness in small Finnish firms," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 18(1), pages 9-26.
    • Handle: RePEc:ids:ijbglo:v:18:y:2017:i:1:p:9-26
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    Cited by:

    1. Reeti Kulshrestha & Arunaditya Sahay & Subhanjan Sengupta, 2022. "Constituents and Drivers of Mission Engagement for Social Enterprise Sustainability: A Systematic Review," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 31(1), pages 90-120, March.
    2. Miehé, Lucas & Palmié, Maximilian & Oghazi, Pejvak, 2023. "Connection successfully established: How complementors use connectivity technologies to join existing ecosystems – Four archetype strategies from the mobility sector," Technovation, Elsevier, vol. 122(C).
    3. Faisal Santiago, 2017. "A Legal Perspective of the Law Enforcement of Land Dispute," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 578-587.

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