Evolutionary paths of Global Value Chains (GVCs) for SMEs: A conceptual framework

External factors such as geopolitical tensions, protectionist pressures, and technological evolution are posing significant challenges to multinational enterprises (MNEs) and to smaller firms in a wide variety of sectors and nations. The aim of this conceptual chapter is to devote special attention to identifying the new dynamics and evolutionary paths of global value chains (GVCs) in the context of small- and medium-sized enterprises (SMEs). Moreover, it aims to understand, more specifically, the complex context of international business affecting and challenging SMEs involved in GVCs and propose some future directions about how they are responding to the uncertainty generated by the increasing dynamicity of GVCs. The findings are systematized within a conceptual model. This research contributes to the research streams studying the relational dynamics within the GVCs. Regarding managerial implications, this study will enable SMEs to make better-informed decisions regarding their future directions and business models, strengthening their capacity to respond to abrupt shocks within the GVC of lead firms.