How do small and medium-sized enterprises adapt to deglobalization and economic nationalism? Drawing lessons from Italian SMEs operating under autarky in the interwar period, and using rich archival evidence, the authors identify four adaptive strategies (market repositioning, national re-branding, disguising core business, and mobilizing formal ties) showing how resource-constrained SMEs displayed resilience, flexibility, and strategic ingenuity under severe political and economic constraints.
Authors & affiliations:
- Valeria Giacomin (Bocconi University)
- Francesco Romagnoli (Bocconi University)
