Globalization, as it is expressed by business, espoused by economic theories, and described in popular press, is fundamentally about social and cultural change. This paper seeks to identify the dimensions which are relevant in the shaping of strategies of Small and Medium Enterprises (SME) in this changing environment. The study is carried out in the intersection between social sciences and strategic management. This paper introduces concepts, core competences and connections as necessary variables for formation of Sustained Competitive Advantage (SCA) based on cultural identities of locality in the presence of globalization trends. Resources are stories, ideas, designs, attitude and capabilities are abilities, rituals, technologies, process, skills and knowledge widely present in cultural environment of every locality. Globalisation provides a connections, ‘opens doors’ and ‘widens horizons’. It is argued that globalization makes local cultures more visible and creates interest about them providing companies with necessary connections for the cultural identities to serve as the basis for strategically important SCA. Research among Latvian SME, carried out and presented in the second part of the study, shows their supporting attitudes towards culturally based SCA. They view globalization as positive trend and agree that Baltic cultural achievements can be cultivated, maintained and exported.
|Keywords:||Globalization, Cultural Identities, Core Competence, Sustained Competitive Advantage|
Associate Professor, Business Consultant, Riga International School of Economics and Business Administration, Latvia
Programme director, Programme, Riga International School of Economics and Business Administration, Riga, Riga, Latvia
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