A Resource-Based View Framework for Knowledge Risk Management in SMEs

Abstract

Small and Medium Enterprises (SMEs) face a significant challenge of knowledge loss due to their inability to implement Knowledge Risk Management (KRM) strategies effectively, which ultimately negatively affects their competitiveness and sustainability. The modern nature of work causes an over-reliance on technology to perform remote work, conduct organisational collaboration and exchange knowledge assets, which poses risks associated with knowledge exposure and loss for SMEs. Given that SMEs are resource constrained, they put little effort into risk management strategies that can potentially save them from losing their most critical knowledge. This study proposes a Resource-Based View framework (RBV) for SMEs to leverage internal resources and capabilities to mitigate the risks related to knowledge loss. A systematic literature review was conducted using the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) to analyse academic publications from the past ten years (2014–2024) in order to identify key trends, challenges and strategies related to KRM, RBV and SMEs. Thematic analysis was applied to analyse the selected articles, with three themes emerging, namely the role of intellectual capital in mitigating knowledge risks; technological interventions for knowledge protection; and organizational culture’s impact on knowledge-sharing and security. SMEs struggle with managing intellectual capital, implementing technological interventions for knowledge retention, protection and sharing due to limited resources. Their approach to knowledge-sharing is unstructured and formal processes are less frequently implemented. However, organizations that integrate KRM effectively demonstrate greater resilience, sustainability and competitive advantage. The results underscore the need for SMEs to develop structured KRM frameworks aligned with their resource capabilities. This research bridges the gap between RBV and KRM, providing insights for SME managers to manage knowledge loss risks and enhance long-term sustainability. Future research should explore empirical case studies to validate the findings and proposed framework of this paper.