How Do SMEs Face Sustainability Challenges in the Competition? A Systemic Review

Abstract

The biggest challenge of SMEs in the globalization era is the survival and succeeding in the competition. This is mainly due to the less ability of the SMEs to face the three competitive challenges-global challenges, technological challenges, and sustainability challenges. This systemic review aimed to explore the nature of the SMEs' sustainability challenge and investigate the survival and succeeding strategies of SMEs in a broader context of sustainability. The paper reviewed five sustainability challenges cited in the literature, and the review concludes that acknowledgement of sustainability principles by the SMEs could contribute to sustaining the earth's system due to its long-term positive spill-over effects-economic prosperity, societal well-being, and environmental protection-and sustained earth system would support the life in the long run. The long-term maintenance of the philosophical meaning of sustainability in the SMEs would create an earth with no poverty, hunger, and inequality, no environmental degradation, and no disturbance to the product demand and supply.