How Can Management Consulting Services Be Used While Crafting Competitive Strategies for Small and Medium-Sized Enterprises in the Digital Age?

Abstract

The article proposes a new conceptual framework for effectively using management consulting services in crafting competitive strategies for small and medium-sized enterprises (SMEs) undergoing digital transformation. The study addresses research gaps concerning the direct impact of management consulting on the digital transformation and strategic pivoting of SMEs’ business models within a volatile business environment. The research methodology involves a comprehensive exploration of scientific literature, including theoretical analyses and research paper reviews. The literature review examines the interconnections between SME competitive strategy crafting, dynamic capabilities, digital transformation and management consulting services. The findings of this study culminate in a conceptual framework that elucidates the relationship between various factors influencing the competitive strategy crafting process for SMEs. Additionally, the paper highlights the potential roles and contributions of management consulting in assisting SME management with strategic development and resource allocation and suggests practical impact measurement in further research.