The Phenomenon of High-Growth SMEs (Gazelles), Part 2

The primary objective of this paper is to advance the theoretical knowledge on the phenomenon of gazelles by integrating the findings of previous studies into a conceptual model that would account for a sustainable high growth. A theoretical explorative and deductive method is adopted. A number of published works on gazelles were systematically reviewed. Based on this review, the paper attempts to identify the key factors that have been found to explain the high growth of the gazelles and its discontinuity, and integrate them to form a conceptual model. The proposed model illustrates the linkages between Entrepreneurship and Marketing disciplines. Five building blocks of the model are identified. It is developed based on previous studies on gazelles which are majorly mixed sector studies. Therefore, to refine the understanding of the phenomenon of HG-SMEs, future research suggestions would be to enrich the concepts obtained from the literature by gathering the data from the field and to test the new model in HGSMEs operating only in the service industry.