Research on the Impact Mechanism of the SMEs' Strategic Completeness on Firm Performance

Small and medium-sized enterprises (SMEs) have emerged as a vital force in the economic development of our country, significantly influencing national economic growth, employment rates, market competition, and innovation. Consequently, the ability of SMEs to achieve stable performance growth is crucial for socio-economic development. Previous research has identified factors such as political connections, cash flow, capital, and information technology as significant contributors to business growth. However, SMEs often lack these resources or cannot control them, making existing research inadequate for guiding the performance growth of SMEs.To address this issue, this study is grounded in the resource-based view and constructs a theoretical model on the impact of SME strategic completeness on performance growth. This model is based on literature research and in-depth interviews. It highlights the mediating roles of market adaptability, operational agility, and employee proactivity. Additionally, the model examines the moderating effects of competitive intensity, strategic implementation capability, and management digitalization. The study collected 203 valid SME samples for analysis and hypothesis testing, yielding the following conclusions: (1)The more comprehensive the business strategy, the better the adaptability to external markets, the higher the operational agility, and the stronger the initiative of employees. (2)Better market adaptability leads to faster performance growth. (3)Higher operational agility accelerates performance growth. (4)Greater employee initiative enhances performance growth. (5)The stronger the external competitive intensity faced by a business, the more effective a well-developed strategy is in improving market adaptability, operational agility, and employee initiative. (6)Stronger strategic implementation capabilities further enhance the effectiveness of a well-developed strategy in improving market adaptability and employee initiative. (7)A higher level of management digitalization enhances the effects of market adaptability, operational agility, and employee initiative, thereby boosting business performance. This study offers theoretical and practical value by clarifying the paths, mechanisms, and boundary conditions through which strategic completeness promotes business performance growth, enriching the theoretical system of SME performance growth. Furthermore, by integrating the cutting-edge concept of management digitalization into the research on strategic completeness and performance growth, this study contributes to the development and refinement of the research framework. Practically, it provides strategic recommendations for SMEs on how to enhance business performance growth through strategic completeness.