Volume 9 Issue 2

The personalization of the way of communication, but also of the products and services is a tendency that is being discussed more and more and at the level of all companies. The nature and characteristics of services make the process of buying more complicated compared to goods due to the complexity and interaction between the companies and customers – here is where personalization can make a difference. Viewed from the perspective of opportunities, the consumer-company relationship determines an advantageous aspect for service companies, namely the adoption of personalized processes along the relationship between the two, creating greater consumer satisfaction and a lesson for companies in improving the services offered.

Small businesses are often described as the lifeblood of economies around the globe. This is mainly due to small business' significant socio-economic value-adding abilities. These entities significantly contribute to national Gross Domestic Products, while both disseminating wealth and alleviating poverty through the creation of employment opportunities. Research suggests that small businesses have high failure rates - most failing after operating for between three and five years. Instead of emphasising particular reasons why small businesses fail, the emphasis was placed on two theories, namely the liability of newness (specifically that small businesses have little to no reputation when they are newly established) and the neo-institutional theory (specifically that small businesses tend to imitate “best practices” of established businesses, as-is, without considering customized solutions using a “trial-and-error” approach). In particular, the primary objective of this paper was to conceptualise how the Sustenance framework addresses issues contained within these two theories to, ultimately, enhance the sustainability of small businesses. This conceptual paper was exploratory and constituted qualitative research. From the observations made, it appears that the Sustenance framework can assist with the building of small businesses' reputation while limiting the adverse influence of mimetic isomorphism.