This study aimed to contribute to the establishment of a paradigm for the sustainability of SMEs through a diagnosis of the current sustainability level of Puerto Rican’s SMEs as well as an analysis of the areas that must be strengthened to achieve a high level of sustainability. This exploratory study shows that Puerto Rico has SMEs that seek to incorporate the best corporate practices to be sustainable in the long term. The analysis of the penta-dimensional model indicates that 51% of the companies in the sample are already at an intermediate stage of sustainability (level 3 of 5). The findings also showed that the dimensions having a higher level of sustainability were global management, impacts, and competitiveness, while the dimensions that achieved lower scaling values were relationships and transparency. Based on findings, it is suggested that SMEs take forward steps toward the modification of nascent and ongoing business models, increase the ability to compete, adapt to change, enhance the creation of innovative products and services, and work together with public and private organizations to create more efficient business ecosystems.
Bibliographical notePublisher Copyright:
© 2020, Springer Nature B.V.
All Science Journal Classification (ASJC) codes
- Geography, Planning and Development
- Economics and Econometrics
- Management, Monitoring, Policy and Law