<![CDATA[Small and Medium Enterprises (SMEs) are widely recognized as critical drivers of economic growth and employment, particularly in developing countries. However, their capacity to sustain competitive advantage amid increasing market turbulence, digital disruption, and post-pandemic uncertainty remains a pressing concern in strategic management scholarship. Despite a growing body of literature on SME strategy and organizational learning, the integrative mechanism through which adaptive strategies translate into sustained competitive advantage—mediated by organizational learning—has not been systematically synthesized, especially in developing-country contexts. This study aims to: (1) identify dominant adaptive strategy patterns among SMEs, (2) examine the mediating role of organizational learning between adaptive strategy and competitive sustainability, and (3) identify contextual factors that moderate this relationship. Employing a Systematic Literature Review (SLR) guided by the PRISMA 2020 protocol, 62 peer-reviewed articles indexed in Scopus and Web of Science (2015–2026) were synthesized from an initial pool of 1,284 articles through rigorous multi-stage screening and quality appraisal. Findings reveal that operational flexibility (34%) and product or service innovation (27%) are the most prevalent adaptive strategies, consistent with the prospector and analyzer orientations. Organizational learning—particularly ambidextrous learning—emerges as the strongest mediating mechanism linking adaptive strategy to competitive sustainability. Five contextual moderators are identified: market turbulence, business ecosystem support, organizational size, entrepreneurial orientation, and digitalization intensity. The study contributes an integrative conceptual model with five empirically testable propositions, offering both theoretical advancement and actionable guidance for SME practitioners and policymakers in developing economies.]]>
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