Antifragility, resilience and collaborative networks of SMEs: a theoretical foundation

Abstract

PurposeThe dynamic of the business environment has escalated the competition and uncertainty, which is challenging business survivability, particularly for small and medium enterprises (SMEs). SMEs attract researchers due to their unique characteristics that have limited resources but great flexibility and adaptability. Furthermore, Collaborative Networks (CNs) have been proposed by business scholars as a critical strategy to gain resilience and antifragility. However, the concept of antifragility and its relation with CNs is still vague in the SME sector. Therefore, this study aims to develop a complete understanding regarding: (1) the emerging knowledge that is critical in explaining antifragility in the business sector based on co-citation and thematic analysis; (2) the relation between resilience and antifragility in emerging business research; (3) the relation between CNs and antifragility in emerging business research and (4) a framework of antifragility in the SME context.Design/methodology/approachBibliographic Analysis and Systematic Literature Review are performed to reach the research objectives. We use co-citation and thematic analysis to identify the map of emerging knowledge and the related concepts, which are the fundamentals of antifragility. Furthermore, we use a systematic literature review to determine the relation of antifragility, resilience and CNs in the SME context.FindingsAntifragility is a higher level of survivability compared to resilience. Antifragile SMEs could gain an advantage from the uncertain business environment. However, both in resilience and antifragility, SMEs should become active learners. Furthermore, CNs are proposed as the gateway for SMEs to manage their resource limitations. The conceptual framework of Antifragile SMEs is presented as the theoretical contribution of this manuscript.Originality/valueThis article explains the knowledge structure of antifragility in the business sector, particularly among SMEs. Based on bibliometric data, we describe critical characteristics or mental states entrepreneurs should have when facing uncertainty. Furthermore, we propose a conceptual framework for antifragile SMEs where active learning and positive psychology are the pillars, and CNs are critical ingredients of antifragility in SMEs.