The Competititveness of Small and Medium-Sized Enterprises (SMES) in Uzbekistan and the Factors Affecting Them

Abstract

An important advantage of competition is that it stimulates innovation. Competition between companies can stimulate the development of new or improved products or more efficient processes. Additionally, competition can help businesses identify consumer needs and then develop new products or services to meet those needs. To succeed in today's business environment, companies must establish relationships with other stakeholders to gain access to necessary resources. Some people say that “no business stands alone,” implying that businesses engage in long-term relationships, that atomic corporations do not exist, and that organizations must have strategies to succeed. They must understand how their environment is changing. Organizations must be able to respond quickly to industry opportunities and challenges. The article focuses on identifying the main factors affecting the competitiveness of small and medium enterprises (SMEs) in Uzbekistan. SMEs play an important part in sustainable rural development, post-transformation processes, as well as in the integrated development of formal and informal rural institutions in Uzbekistan. According to the results the study concluded that technology enhanced organizational competitiveness by increasing internal efficiencies and facilitating a more effective management of the external environment. Strategic leadership improves organizational competitiveness by establishing SMART goals and objectives and by establishing clear vision and mission statements to guide the organization's operations. The findings indicate that the majority of organizations have prioritized developing human resources that aid in market identification and operation. Additionally, they evaluated their resources and capabilities and recognized their significance to the organization.