Sustainable Business Strategies of Small and Medium-Sized Enterprises in Hanoi: A Systematic Review in the Era of Digital Transformation, Artificial Intelligence, and Sustainable Development

Small and medium-sized enterprises (SMEs) play a vital role in economic growth, employment generation, innovation, and sustainable development. In the context of digital transformation, artificial intelligence (AI), international cooperation, and increasing stakeholder expectations regarding environmental, social, and governance (ESG) performance, sustainable business strategies have become an important research topic. This study aims to systematically review the existing literature on sustainable business strategies among SMEs, with particular attention to the context of Hanoi, Vietnam. Drawing upon key theoretical foundations, including stakeholder theory, the resource-based view, triple bottom line theory, and sustainable development theory, the study synthesizes prior research related to sustainability-oriented strategic management, digital transformation, ESG integration, green innovation, and SME competitiveness. Using a systematic literature review approach, the study analyzes and evaluates relevant academic publications from major databases to identify key research themes, theoretical perspectives, methodological approaches, and emerging trends. The findings indicate that sustainable business strategies are increasingly recognized as a source of long-term competitive advantage, organizational resilience, and stakeholder trust. Digital technologies, AI applications, ESG practices, and international partnerships are found to be important enablers of sustainable value creation. However, the existing literature remains fragmented, particularly regarding the integration of sustainability, digitalization, and strategic management in SMEs operating in emerging economies. The study contributes to the literature by identifying research gaps and proposing future research directions to support sustainable business development among SMEs in Hanoi and similar contexts.