Enhanced Organizational Performance: Integrating Dimensions for Sustainable Growth

This study examined how different factors—environmental, human resources, managerial, technological, and innovation—influence the organizational performance of small- and medium-sized enterprises (SMEs). For the study methodology, a correlational research design was used to examine the relationships...

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Bibliographic Details
Published in:Sustainability Vol. 15; no. 21; p. 15186
Main Authors: Restrepo-Morales, Jorge Aníbal, Giraldo-Betancur, Emerson Andrés, López-Cadavid, Diego Alejandro, Grados-Vásquez, Martín Manuel, Olórtiga-Cóndor, Lucio Wilfredo
Format: Journal Article
Language:English
Published: Basel MDPI AG 01.11.2023
Subjects:
Decision making
Environmental sustainability
Global economy
Humanitarianism
Innovations
Monte Carlo method
Monte Carlo simulation
Open systems
Philosophy
Small and medium sized companies
Social networks
Sustainability
Sustainable development
System theory
Colombia
United Kingdom
ISSN:2071-1050, 2071-1050
Online Access:Get full text
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Summary:This study examined how different factors—environmental, human resources, managerial, technological, and innovation—influence the organizational performance of small- and medium-sized enterprises (SMEs). For the study methodology, a correlational research design was used to examine the relationships between variables in a sample of 476 SMEs in Colombia. Advanced statistical techniques were used, such as regression and correlation analyses with Monte Carlo simulation. We evaluated four dimensions, 16 factors, and 197 related variables to understand their impact on business performance. The results show that all the studied factors, i.e., environment, structure, management, and people, have a positive relationship with organizational performance. Additionally, the results indicate that SMEs tend to have strong performance in the dimensions of finance, infrastructure, and production but weaker performance in those of international, socioenvironmental, technological, institutional philosophy, process, and human resources management. These findings provide valuable insight into the areas that SMEs may need to focus on to improve their performance while underscoring the importance of considering a variety of factors when developing strategies to improve organizational performance.
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ISSN:2071-1050
2071-1050
DOI:10.3390/su152115186