Track

TAI

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poster

Description

Despite SMEs significant contribution to a nation's economy in terms of the number of firm establishment and employment, only 50% of SMEs in the U.S. survive five years. Compared to SMEs in other countries, many Italian firms started as small family businesses in a district and have evolved into a global firm such as Ermenegildo Zegna. To understand how SMEs can evolve successfully, it is critical to learn from successful Italian apparel/textile firms that started as SMEs. Built on the life cycle model of new SMEs, the purpose of this study is to explore the evolution patterns of successful apparel and textile firms in Biella, Italy and analyze the characteristics of successful firms. Analyses of thirteen interviewed firms revealed that branding (3rd stage) and internationalization activities (4th stage) emerged very early. The findings collectively suggest that to successfully evolve, SMEs need to focus on branding, globalization, innovation and sustainable initiatives.

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Nov 9th, 12:00 AM

How can Small- and Medium-sized Enterprises (SMEs) Successfully Evolve? Lessons learned from Apparel and Textile SMEs in Biella, Italy

Despite SMEs significant contribution to a nation's economy in terms of the number of firm establishment and employment, only 50% of SMEs in the U.S. survive five years. Compared to SMEs in other countries, many Italian firms started as small family businesses in a district and have evolved into a global firm such as Ermenegildo Zegna. To understand how SMEs can evolve successfully, it is critical to learn from successful Italian apparel/textile firms that started as SMEs. Built on the life cycle model of new SMEs, the purpose of this study is to explore the evolution patterns of successful apparel and textile firms in Biella, Italy and analyze the characteristics of successful firms. Analyses of thirteen interviewed firms revealed that branding (3rd stage) and internationalization activities (4th stage) emerged very early. The findings collectively suggest that to successfully evolve, SMEs need to focus on branding, globalization, innovation and sustainable initiatives.

 

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