SMEs are highly represented in the Colombian market; in the Cundinamarca region alone, 42% of businesses are small and medium-sized enterprises. But how do these companies survive in the market?
Research by Angelica María Borrego Espitia, researcher of strategies used by small and medium enterprises in Cundinamarca Colombia.
Sustainable value in SMEs
A problem that has been noticed in the region of Cundinamarca, Colombia, is that only 30% of the micro, small, medium and large companies survive the first five years after being created, which caused a lot of curiosity in locals and that is why it was decided to conduct an in-depth investigation. This research conducted by Angélica Borrego as her master's thesis at the Universidad Militar Nueva Granada under the direction of Professor Yefri Manuel Pascagaza Corredor shows us the different strategies used by the same SMEs, strategies that help us understand how they have maintained a stable place in the market of Cundinamarca.
The objective of Angélica Borrego's research was to analyze the strategies used by small and medium-sized companies in Cundinamarca to create sustainable value.
According to the data obtained in the research, the creation of sustainable value is based on the following points:
Innovation
Sustainability
Business Model
Co-creation
Value
Sustainable manufacturing
Human capital
Emerging synthesis
Circular economy
These comprise: sustainability, creation value and sustainable creation value.
By checking this information we can see that this research has a descriptive quantitative approach and its design is non-experimental-transactional, which means that it is a non-probabilistic method by convenience. Angélica Borrego says that for the collection of data a questionnaire of closed questions was carried out together with a judgment of experts and to assess the validity all this was applied in some participating SMEs in Cundinamarca Colombia.
Study results Survey results
Finally, the researcher commented on her conclusions and recommendations, which were:
Medium-sized companies are the best performers when it comes to implementing strategies for sustainable value creation
Efforts must continue to be made to achieve representative improvements in terms of sustainability.
Small companies need to work with greater dedication and adapt to current trends.
Trends are the key to creating strategies if you want your SME to remain competitive and sustainable over time.
The companies that are the subject of this study must redefine their strategies
You should always think about introducing new factors to create value, this will help your company a lot.