1.1. Introduction1.2. The classic approach of the firm’s environment: a deterministic relationship (also) affecting the SME1.3. From strategic intent to RBV: what level of emancipation is there from environmental constraint for SMEs?1.4. The SME in a hypercompetitive environment: from emancipation to environmental transformation1.5. Conclusion1.6. Appendix: from the French province of Drôme to London, becoming an entrepreneur by using cultural resources