Entrepreneurship Management, Competitive Advantage and Firm Performances in the Craft Industry: Concepts and Framework

Abstract

The purpose of this paper is to contribute to the understanding of small medium enterprises (SMEs) and firm performances within the craft industry by drawing attention to the critical factors influencing its performance, and to further provide an integrated framework to examine SMEs performances. In this paper, an integrative framework of firm performance and factors influencing it is proposed that relies on resource-based view theory as well as combining insights from Porter's theory. The proposed framework allows the identification of the factors driving SMEs performances and the capture of holistic firm performance within the craft industry.