In the current turbulent market, firms spend lots of tangible and intangible resources to gain competitive advantage and superior performance. Prior studies have discussed several determinants of competitive advantage and performance, particularly in developed economies, whereas small- and medium-sized enterprises (SMEs) in emerging economies have received minor attention. This study examines the mediating role of competitive advantage between enterprise risk management practices and SME performance and the moderating role of financial literacy between enterprise risk management practices and competitive advantage. A structured questionnaire is used to collect data from 304 SMEs operating in the emerging market of Pakistan. The hypotheses of the proposed study are tested through Structural Equation Modeling (SEM) in Analysis of a Moment Structures (AMOS). The results indicate that enterprise risk management practices significantly influence competitive advantage and SME performance. Competitive advantage partially mediates the relationship between enterprise risk management practices and SME performance. Additionally, financial literacy significantly moderates the relationship between enterprise risk management practices and competitive advantage. Firms are advised to implement formal enterprise risk management practices to gain competitive advantage and superior performance. Top managers need to have enough financial education that they will be able to perform risk management practices in an efficient way to gain a competitive position in the market. Implications for practices have been discussed in detail.

Achievement of sustainable competitive position and superior performance is the first priority of business organizations. However, small firms, due to fairly known reasons; lack of resources, financial capabilities and lack of managerial skills are often unable to succeed in their mission. Hence, they often look for less risky and convenience sources to compete in the market. A variety of factors has been tested towards a firm competitive position and performance but the role of government support in this perspective has received minor attention. The present study examines the influence of government financial support and nonfinancial support on firm performance with mediating role of the sustainable competitive position. Hypotheses were tested using structural equation modeling in Analysis Moment of Structure (AMOS) on a data set of 326 Pakistani Small and Medium Size Enterprises (SMEs). The results indicate that government financial and nonfinancial support have a significant influence on sustainable competitive position and firm performance. Additionally, a sustainable competitive position partially mediates the relationship between government support and firm performance. Government bodies and policy makers are advised to provide financial and nonfinancial support to SMEs which in turn can upsurge economic growth and sustainability.

How entrepreneurial orientation facilitates the identification of new opportunities in newly established ventures in emerging economies remains largely unexplored. Approaching entrepreneurial orientation as a second order latent construct, we examined the mediating role of opportunity recognition on new venture performance. Using a survey data from 316 SMEs, the results of the analysis in SmartPLS highlights that entrepreneurial orientation indirectly contributes to the performance of new ventures, where the relationship is partially mediated by opportunity recognition. The findings show that firms with high entrepreneurial orientation can identify and exploit new opportunities as well as enjoy superior performance.

Increased competition has highlighted the need for more effective firm level strategies for SMEs to achieve competitive advantage. In fact, SMEs face higher risks in terms of globalization as a result of their limited resources and small size. This study highlights the importance of business strategy in SME performance with the mediating role of enterprise risk management. A structured questionnaire was used to collect data from 327 Pakistani SMEs. The hypotheses are tested using Structural Equation Modeling (SEM) in AMOS. The results indicate that business strategy has a significant influence on SME performance and enterprise risk management. In addition, enterprise risk management partially mediates the relationship between business strategy and SME performance. This study finds that firms with a unique business strategy endorse formal risk management practices which in turn facilitate superior performance in the market. Implications for practices are discussed.

More than 50% of newly established ventures fail in the initial stage across the globe due to fairly well-known reasons: liability of newness, lack of resources and smallness. One way to overcome these issues is to build connections with external bodies that may help in exchange of knowledge and resources. While networking is a useful ally, it cannot save a venture from failure entirely on its own. New firms also need an effective business model innovation which is considered a key factor in the success of Small and Medium Enterprises (SMEs) in the current era. This article examines the importance of networking in building effective business model innovation. Data were collected through structured questionnaires using a sample size of 311 young SMEs operating in the emerging economy, Pakistan. Hypotheses were tested through Structural Equation Modeling (SEM) in analysis of a Moment Structures (AMOS).21. The results indicate that financial networking, business networking and political networking significantly and positively contribute to business model innovation. Owners and managers of young medium-sized firms are advised to focus on building relationship with external partners, financial institutions and government officials to create an effective business model innovation in order to survive in a turbulent market. Implications for practice are also discussed in detail. Keywords: networking; business model innovation; new ventures; emerging market Plus de 50% des entreprises nouvellement créées échouent dès leur première année pour des raisons clairement établies: le handicap dû à leur jeunesse, le manque de ressources et le handicap de la taille. Un des moyens pour surmonter ces difficultés est de construire des partenariats avec d'autres structures qui apporteraient des ressources et savoirs. Bien que nécessaire, le réseau d'affaires ou networking ne peut à lui seul prévenir une entreprise d'echouer par son propre chef. Les nouvelles entreprises ont besoin d'un business modèle innovant qui constitue actuellement le facteur clé de succès des Petites et moyennes entreprises (PME). Le présent article examine l'importance du réseau d'affaires ou networking dans la définition d'un business model innovant. A partir d'un questionnaire, nous avons mené une étude sur un échantillon de 311 nouvelles PME du Pakistan exerçant dans le secteur de l'économie émergeante. En utilisant des modèles structurés d'equations dans AMOS. 21, nous avons testé nos hypothèses. Il en résulte que le partenariat financier, le partenariat d'affaires et le partenariat politique influencent significativement et positivement la mise en place d'un modèle d'affaires innovant. Les actionnaires et les gestionnaires des jeunes PME sont conseillés de construire des relations avec des partenaires extérieurs, des instutions financières et des acteurs gouvernementaux afin de créer un modèle d'affaires innovant qui garantisse leur pérennité sur un marché instable. Les implications pratiques sont aussi détaillées dans le présent article.