New institutionalism strands and their impact on SMEs
| New institutionalism strand | Focus | Impact on SMEs |
|---|---|---|
| Rational-action neoinstitutionalism (RAN) | Formal (e.g. laws, regulations) | SMEs must allocate resources to comply with legal and regulatory frameworks, which can create constraints, especially in terms of cost and operational flexibility |
| Social-constructionist neoinstitutionalism (SCN) | Informal (e.g. social norms, culture) | SMEs face pressure to adapt to local norms and gain legitimacy within their communities, influencing their strategies and practices |
| Mediated-conflict neoinstitutionalism (MCN) | Political institutions | SMEs need to manage complex political environments where conflicting interests and regulatory inconsistencies can influence their strategies, requiring flexibility and careful management of external relations |
| New institutionalism strand | Focus | Impact on SMEs |
|---|---|---|
| Rational-action neoinstitutionalism (RAN) | Formal (e.g. laws, regulations) | SMEs must allocate resources to comply with legal and regulatory frameworks, which can create constraints, especially in terms of cost and operational flexibility |
| Social-constructionist neoinstitutionalism (SCN) | Informal (e.g. social norms, culture) | SMEs face pressure to adapt to local norms and gain legitimacy within their communities, influencing their strategies and practices |
| Mediated-conflict neoinstitutionalism (MCN) | Political institutions | SMEs need to manage complex political environments where conflicting interests and regulatory inconsistencies can influence their strategies, requiring flexibility and careful management of external relations |
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