THE IMPERATIVE OFI STRATEGIC VISION FIOR SMALL BUSINESS DEVELOPMENT IN DEVELOPING COUNTRIES: INSIGHTS FIROM UZBEKISTAN

Abstract

Small and Medium Enterprises (SMEs) are pivotal to economic growth and social stability in developing nations, yet they frequently contend with significant challenges including limited access to finance, regulatory hurdles, and skill deficits. This paper investigates the critical importance of strategic vision in fostering the development and resilience of small businesses within these contexts. Drawing upon established strategic management theories, the study analyzes how a clear, adaptive strategic vision can empower SMEs to navigate complex environments, capitalize on opportunities, and achieve sustainable growth. Uzbekistan serves as a contemporary case study, offering a rich empirical backdrop due to its active economic reforms and the central role its SME sector plays in national development. The analysis reveals that while comprehensive government support is crucial, the effective adoption of strategic vision at the micro-level is paramount for translating macro-level policies into sustained entrepreneurial success.