The logic of development for medium-sized enterprises: an approach by their business models

To establish the relevance of Intermediate-sized enterprises (now ISE) as a research object, this paper proposes to go beyond the traditional economic and financial approach. It provides an analysis of their business model evolution, that is to say, the evolution of their strategic, financial and organizational dimensions combination. An empirical study based on 14 companies is conducted. It shows that these companies have a sustainable trajectory of growth that seems to be based on some business models (BM) common characteristics. These companies use some dynamic capabilities to change their BM. This allows them to grow without changing their deep nature and without losing their independence. The ISE trajectory is based on their ability to change their BM along a curve in a reasonable and rational way, under conditions of family governance. ISE thus constitute a real research object as they would be emblematic of a specific logic of development based on a virtuous circle around a triptych: Independence-Control-Development. Reproduced by permission of Bibliothèque de Sciences Po