Search results for: SMEs

Authors: M. Mueller, M. Kuehn, M. Voelker

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In small and medium-sized enterprises (SMEs), the challenge is to create a well-grounded and reliable basis for process analysis, optimization and planning due to a lack of data. SMEs have limited access to methods with which they can effectively and efficiently analyse processes and identify cause-and-effect relationships in order to generate the necessary database and derive optimization potential from it. The implementation of digitalization within the framework of Industry 4.0 thus becomes a particular necessity for SMEs. For these reasons, the abstract presents an analysis methodology that is subject to the objective of developing an SME-appropriate methodology for efficient, temporarily feasible data collection and evaluation in flexible production and logistics systems as a basis for process analysis and optimization. The overall methodology focuses on retrospective, event-based tracing and analysis of material flow objects. The technological basis consists of Bluetooth low energy (BLE)-based transmitters, so-called beacons, and smart mobile devices (SMD), e.g. smartphones as receivers, between which distance data can be measured and derived motion profiles. The distance is determined using the Received Signal Strength Indicator (RSSI), which is a measure of signal field strength between transmitter and receiver. The focus is the development of a software-based methodology for interpretation of relative movements of transmitters and receivers based on distance data. The main research is on selection and implementation of pattern recognition methods for automatic process recognition as well as methods for the visualization of relative distance data. Due to an existing categorization of the database regarding process types, classification methods (e.g. Support Vector Machine) from the field of supervised learning are used. The necessary data quality requires selection of suitable methods as well as filters for smoothing occurring signal variations of the RSSI, the integration of methods for determination of correction factors depending on possible signal interference sources (columns, pallets) as well as the configuration of the used technology. The parameter settings on which respective algorithms are based have a further significant influence on result quality of the classification methods, correction models and methods for visualizing the position profiles used. The accuracy of classification algorithms can be improved up to 30% by selected parameter variation; this has already been proven in studies. Similar potentials can be observed with parameter variation of methods and filters for signal smoothing. Thus, there is increased interest in obtaining detailed results on the influence of parameter and factor combinations on data quality in this area. The overall methodology is realized with a modular software architecture consisting of independently modules for data acquisition, data preparation and data storage. The demonstrator for initialization and data acquisition is available as mobile Java-based application. The data preparation, including methods for signal smoothing, are Python-based with the possibility to vary parameter settings and to store them in the database (SQLite). The evaluation is divided into two separate software modules with database connection: the achievement of an automated assignment of defined process classes to distance data using selected classification algorithms and the visualization as well as reporting in terms of a graphical user interface (GUI).

Keywords: event-based tracing, machine learning, process classification, parameter settings, RSSI, signal smoothing

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Authors: Olaniyi O. Omoyajowo

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To be successful in today’s competitive global environment, manufacturing industry must be able to respond quickly to changes in technology. These changes in technology introduce new risks and hazards. The management of risk/hazard in a manufacturing process recommends method through which the success rate of an organization can be increased. Thus, there is a continual need for manufacturing industries to invest significant amount of resources in risk management, which in turn optimizes the production output and profitability of any manufacturing industry (if implemented properly). To help improve the existing risk prevention and mitigation practices in Small and Medium Enterprise (SME) in Nigeria Manufacturing Industries (NMI), the researcher embarks on this research to develop a systematic Risk Management process.

Keywords: manufacturing management, risk, risk management, SMEs

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Authors: Sangyun Han, Minki Kim

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R&D outsourcing is a strategy for acquiring the competitiveness of firms as an open innovation strategy. As increasing total R&D investment of firms, the ratio of amount of R&D outsourcing in it is also increased in Korea. In this paper, we investigate the determinants and effects of R&D outsourcing of firms. Through analyzing the determinants of R&D outsourcing and effect on firm’s performance, we can find some academic and politic issues. Firstly, in the point of academic view, distinguishing the determinants of R&D outsourcing is linked why the firms do open innovation. It can be answered resource based view, core competence theory, and etc. Secondly, we can get some S&T politic implication for transferring the public intellectual properties to private area. Especially, for supporting the more SMEs or ventures, government can get the basement and the reason why and how to make the policies.

Keywords: determinants, effects, R&D, outsourcing

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Authors: B. Orser, A. Riding, Y. Li

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To inform government about how gender gaps in SME ( small and medium-sized enterprise) contracting might be redressed, the research question was: What are the key obstacles to, and response strategies for, increasing the engagement of women business owners among SME suppliers to the government of Canada? Thirty-five interviews with senior policymakers, supplier diversity organization executives, and expert witnesses to the Canadian House of Commons, Standing Committee on Government Operations and Estimates. Qualitative data were conducted and analysed using N’Vivo 11 software. High order response categories included: (a) SME risk mitigation strategies, (b) SME procurement program design, and (c) performance measures. Primary obstacles cited were government red tape and long and complicated requests for proposals (RFPs). The majority of 'common' complaints occur when SMEs have questions about the federal procurement process. Witness responses included use of outcome-based rather than prescriptive procurement practices, more agile procurement, simplified RFPs, making payment within 30 days a procurement priority. Risk mitigation strategies included provision of procurement officers to assess risks and opportunities for businesses and development of more agile procurement procedures and processes. Recommendations to enhance program design included: improved definitional consistency of qualifiers and selection criteria, better co-ordination across agencies; clarification about how SME suppliers benefit from federal contracting; goal setting; specification of categories that are most suitable for women-owned businesses; and, increasing primary contractor awareness about the importance of subcontract relationships. Recommendations also included third-party certification of eligible firms and the need to enhance SMEs’ financial literacy to reduce financial errors. Finally, there remains the need for clear and consistent pre-program statistics to establish baselines (by sector, issuing department) performance measures, targets based on percentage of contracts granted, value of contract, percentage of target employee (women, indigenous), and community benefits including hiring local employees. The study advances strategies to enhance federal procurement programs to facilitate socio-economic policy objectives.

Keywords: procurement, small business, policy, women

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Authors: Martin Cai, Khadijah B. Hashim, Leng Leo, Edmund F. Tian

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Analysis of traditional Chinese medicinal (TCM) supplements has always been a laborious task, particularly in the case of multi‐ingredient formulations. Traditionally, herbal extracts are analysed using one or few markers compounds. In the recent years, however, pharmaceutical companies are introducing health supplements of TCM active ingredients to cater to the needs of consumers in the fast-paced society in this age. As such, new problems arise in the aspects of composition identification as well as quality analysis. In most cases of products or supplements formulated with multiple TCM herbs, the chemical composition, and nature of each raw material differs greatly from the others in the formulation. This results in a requirement for individual analytical processes in order to identify the marker compounds in the various botanicals. Thin-layer Chromatography (TLC) is a simple, cost effective, yet well-regarded method for the analysis of natural products, both as a Pharmacopeia-approved method for identification and authentication of herbs, and a great analytical tool for the discovery of chemical compositions in herbal extracts. Recent technical advances introduced High-Performance TLC (HPTLC) where, with the help of automated equipment and improvements on the chromatographic materials, both the quality and reproducibility are greatly improved, allowing for highly standardised analysis with greater details. Here we report an industrial consultancy project with ONI Global Pte Ltd for the analysis of LAC Liver Protector, a TCM formulation aimed at improving liver health. The aim of this study was to identify 4 key components of the supplement using HPTLC, following protocols derived from Chinese Pharmacopeia standards. By comparing the TLC profiles of the supplement to the extracts of the herbs reported in the label, this project proposes a simple and cost-effective analysis of the presence of the 4 marker compounds in the multi‐ingredient formulation by using 4 different HPTLC methods. With the increasing trend of small and medium-sized enterprises (SMEs) bringing natural products and health supplements into the market, it is crucial that the qualities of both raw materials and end products be well-assured for the protection of consumers. With the technology of HPTLC, science can be incorporated to help SMEs with their quality control, thereby ensuring product quality.

Keywords: traditional Chinese medicine supplement, high performance thin layer chromatography, active ingredients, product quality

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Authors: Veronica S. Moertini, Niko Ibrahim, Verliyantina

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As market intermediary firms, e-commerce transaction broker firms need to strongly collaborate with suppliers in order to develop brands seek by customers. Developing suitable electronic Supplier Relationship Management (e-SRM) system is the solution to the need. In this paper, we propose our concept of e-SRM for transaction brokers owned by small medium enterprises (SMEs), which includes the integrated e-SRM and e-CRM architecture, the e-SRM applications with their functions. We then discuss the customization and implementation of the proposed e-SRM model in a specific transaction broker selling hotel rooms, which owned by an SME, KlikHotel.com. The implementation of the e-SRM in KlikHotel.com has been successfully boosting the number of suppliers (hotel members) and hotel room sales.

Keywords: e-CRM, e-SRM, SME, transaction broker

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Authors: Gyung Soo Jeon, Hong Bae Kim, Chi Jung Oh

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In order to prepare the α-alumina with low content of sodium oxide from aluminum trihydroxide as a reactant, three kinds of methods were employed as follows; the mixture of Chamotte (aggregate composed of silica and alumina), ammonium chloride and aluminum fluoride with aluminum trihydroxide under 1600°C, respectively. The sodium oxide in α-alumina produced above methods was analyzed by XRF and the particle size distribution was determined by particle size analyzer, and the specific surface area of α-alumina was measured by BET method, and phase of α-alumina produced was confirmed by XRD. Acknowledgement: This research was supported by Development Program of Technical Innovation funded by Korea Technology and Information Promotion Agency for SMEs (KTIP-2016-S2401821).

Keywords: α-alumina, sodium oxide, aluminum trihydroxide, Chamotte, ammonium chloride, aluminum fluoride

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Authors: Samira Boussema, Ben Hamed Salah

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Entrepreneurship was always considered to be the most appropriate remedy for various economies’ symptoms. It is presented as a complex process that faces several barriers thereby inhibiting a project’s implementation phase. In fact, after a careful review of the literature, we noticed that empirical researches on reasons behind non-developing entrepreneurial projects are very rare, suggesting a lack in modeling the process in general and the pre-start phase in particular. Therefore, in this study we try to identify the main environmental barriers to developing business projects in Tunisia through the study of a representative sample of undeveloped projects. To this end, we used a quantitative approach which allowed us to examine the various barriers encountered by young entrepreneurs during their projects’ implementation. Indeed, by modeling the phenomenon we found that these managers face barriers of legal, financial, educational and government support dimensions.

Keywords: entrepreneurship, environmental barriers, non-implementation of projects, structural modeling

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Authors: Joanna Konstantinou

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The aim of the study is to present the challenges faced by women SME owners in developing resilient businesses. Qualitative research methods will be used through semi-structured interviews to present the cases of women entrepreneurs in Athens, Dubai, and New York. The conclusions and findings of the study will focus on the challenges faced by women entrepreneurs which can be attributed to cultural and contextual differences. Moreover, the study intends to identify these differences and the causes to which they can be potentially attributed so that these cases will serve as the ground of lessons to learn in order to highlight enablers of women entrepreneurship. Finally, the study will provide valuable insight to cultural perspectives and their impact on the development of female entrepreneurship.

Keywords: women, entrepreneurs, culture, SMEs

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Authors: Salman Abdulrasaq

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Small and Medium Enterprises (SMEs) has been considered as indices for economic development in a country economy. The development of entrepreneurship skills is therefore necessary. This study, seeks to examine the impact of Entrepreneurship on the Growth of Small Businesses Kwara State, Nigeria. The data used were primarily obtained from the questionnaire administered to the randomly selected areas in the state. Regression statistical tool was employed with aid of SPSS to test the validity of the hypothesis formulated in the study. The study therefore concludes that; the qualities of entrepreneur have impact the growth of Small Businesses s in the selected areas of the state. In view of this, the study recommends that; entrepreneurship development would serve as a tool for the growth of small business enterprises.

Keywords: entrepreneurship, growth, development, Nigeria

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Authors: Muttamas Wongwanich, John R. Bryson, Catherine E. Harris

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Science parks are an essential component of localized innovation ecosystems. Science Parks have played a critical role in enhancing local innovation ecosystems in developed market economies. Attempts have been made to replicate best practice in other national contexts. To our best knowledge, the study about the development of Science Parks has not been undertaken on the economic impact on the developing countries. Further research is required to understand the adoption of Science Park policies in developing and emerging economies. This study explores the implementation of Science Park policy and its impacts on economic growth and development in Thailand, focusing on the relationship between universities and businesses. The Thailand context is essential. Thailand’s economy is dominated by agriculture and tourism. The Science Park policy is trying to develop an agriculturally orientated innovative ecosystem. Thailand established four Science Parks based on a policy that highlighted the importance of cooperation between government, HEIs, and businesses. These Science Parks are intended to increase small and medium enterprises’ (SMEs) innovativeness, employment, and regional economic growth by promoting collaboration and knowledge transfer between HEIs and the private sector. This study explores one regional Science Park in Thailand with an emphasis on understanding the implementation and operation of a triple helix innovation policy. The analysis explores the establishment of the Science Park and its impacts on firms and the regional economy through interviews with Science Parks directors, firms, academics, universities, and government officials. The analysis will inform Science Park policy development in Thailand to support the national objective to develop an innovation ecosystem based on the integration of technology with innovation policy, supporting technology-based SMEs in the creation of local jobs. The finding shows that the implementation of the Science Park policy in Thailand requires support and promotion from the government. The regional development plan must be related to the regional industry development strategy, considering the strengths and weaknesses of local entrepreneurs. The long time in granting a patent is the major obstacle in achieving the government’s aim in encouraging local economic activity. The regional Science Parks in Thailand are at the early stage of the operation plan. Thus, the impact on the regional economy cannot be measured and need further investigation in a more extended period. However, local businesses realize the vital of research and development (R&D). There have been more requests for funding support in doing R&D. Furthermore, there is the creation of linkages between businesses, HEIs, and government authorities as expected.

Keywords: developing country, emerging economy, regional development, science park, Thailand, triple helix

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Authors: Alexander Kelíšek, Denisa Janasová, Veronika Mitašová

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Weak signals using is often associated with early warning. It is possible to find a link between early warning, respectively early problems detection and risk management. The idea of early warning is very important in the context of crisis management because of the risk prevention possibility. Weak signals are likened to risk symptoms. Nowadays, their usefulness as a tool of proactive problems solving is emphasized. Based on it, it is possible to use weak signals not only in strategic planning, project management, or early warning system, but also as a subsidiary element in risk management. The main question is how to effectively integrate weak signals into risk management. The main aim of the paper is to point out the possibilities of weak signals using in small and medium enterprises risk management.

Keywords: early warning system, weak signals, risk management, small and medium enterprises (SMEs)

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Authors: V. Iakovoglou, G. N. Zaimes, M. P. Arraiza Bermúdez-Cañete, J. L. García, M. C. Giménez, C. Calderón-Guerrero, F. Ioras, I. Abrudan

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A new fast growing trend in tourism is ecotourism, in which tourists visit natural ecosystems under low impact, non-consumptive and locally oriented activities. Through these activities species and habitats are maintained and typically, underdeveloped regions are emphasized. Ecotourism provides a great alternative, especially for rural and undeveloped area. At the same time, despite its many benefits, it also poses many risks for the naturally protected areas. If ecotourism is practiced improperly degradation and irreversible damages could be the unwanted result. In addition, the lack of MSc programs in the field of Ecotourism in Europe makes it a necessity to be developed. Such an MSc program is being implemented with the lead partner the Technical University of Madrid. The entire partnership has six Universities, seven SMEs and one National Park from seven different countries all over Europe. The MSc will have 10 educational modules that will be available online and will prepare professionals that will be able to implement ecotourism in a sustainable way. Only through awareness and education a sustainable ecotourism will be achieved in the protected areas of Europe.

Keywords: ERASMUS, MSc program, protected Areas, sustainability

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Authors: G. A. Asciak, C. Camilleri, A. Rizzo

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The waste management in Malta is a national challenge. Coupled with Malta’s recent economic boom, which has seen massive growth in several sectors, especially the construction industry, drastic actions need to be taken. Wood waste, currently being dumped in landfills, is one type of waste which has increased astronomically. This research study aims to carry out a thorough examination on the possibility of using this waste as a biomass resource and adopting a waste-to-energy technology in order to generate electrical energy. This study is composed of three distinct yet interdependent phases, namely, data collection from the local SMEs, thermal analysis using the bomb calorimeter, and generation of energy from wood waste using a micro biomass plant. Data collection from SMEs specializing in wood works was carried out to obtain information regarding the available types of wood waste, the annual weight of imported wood, and to analyse the manner in which wood shavings are used after wood is manufactured. From this analysis, it resulted that five most common types of wood available in Malta which would suitable for generating energy are Oak (hardwood), Beech (hardwood), Red Beech (softwood), African Walnut (softwood) and Iroko (hardwood). Subsequently, based on the information collected, a thermal analysis using a 6200 Isoperibol calorimeter on the five most common types of wood was performed. This analysis was done so as to give a clear indication with regards to the burning potential, which will be valuable when testing the wood in the biomass plant. The experiments carried out in this phase provided a clear indication that the African Walnut generated the highest gross calorific value. This means that this type of wood released the highest amount of heat during the combustion in the calorimeter. This is due to the high presence of extractives and lignin, which accounts for a slightly higher gross calorific value. This is followed by Red Beech and Oak. Moreover, based on the findings of the first phase, both the African Walnut and Red Beech are highly imported in the Maltese Islands for use in various purposes. Oak, which has the third highest gross calorific value is the most imported and common wood used. From the five types of wood, three were chosen for use in the power plant on the basis of their popularity and their heating values. The PP20 biomass plant was used to burn the three types of shavings in order to compare results related to the estimated feedstock consumed by the plant, the high temperatures generated, the time taken by the plant to produce gasification temperatures, and the projected electrical power attributed to each wood type. From the experiments, it emerged that whilst all three types reached the required gasification temperature and thus, are feasible for electrical energy generation. African Walnut was deemed to be the most suitable fast-burning fuel. This is followed by Red-beech and Oak, which required a longer period of time to reach the required gasification temperatures. The results obtained provide a clear indication that wood waste can not only be treated instead of being dumped in dumped in landfill but coupled.

Keywords: biomass, isoperibol calorimeter, waste-to-energy technology, wood

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Authors: Masese Chuma Benard, Martin Onsiro Ronald

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Businesses have been using cloud computing more frequently recently because they wish to take advantage of its advantages. However, employing cloud computing also introduces new security concerns, particularly with regard to data security, potential risks and weaknesses that could be exploited by attackers, and various tactics and strategies that could be used to lessen these risks. This study examines data security issues on cloud computing amongst sme’s in Nairobi county, Kenya. The study used the sample size of 48, the research approach was mixed methods, The findings show that data owner has no control over the cloud merchant's data management procedures, there is no way to ensure that data is handled legally. This implies that you will lose control over the data stored in the cloud. Data and information stored in the cloud may face a range of availability issues due to internet outages; this can represent a significant risk to data kept in shared clouds. Integrity, availability, and secrecy are all mentioned.

Keywords: data security, cloud computing, information, information security, small and medium-sized firms (SMEs)

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Authors: Tadayuki Kyoutani, Shigeyuki Haruyama, Ken Kaminishi, Zefry Darmawan

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Japan’s semiconductor industries have developed greatly in recent years. Many were started from a Small and Medium-sized Enterprises (SMEs) that found at a good circumstance and now become the prosperous industries in the world. Sustainable growth factors that support the creation of spirit value inside the Japanese company were strongly embedded through performance. Those factors were not clearly defined among each company. A series of literature research conducted to explore quantitative text mining about the definition of sustainable growth factors. Sustainable criteria were developed from previous research to verify the definition of the factors. A typical frame work was proposed as a systematical approach to develop sustainable growth factor in a specific company. Result of approach was review in certain period shows that factors influenced in sustainable growth was importance for the company to achieve the goal.

Keywords: SME, manufacture, sustainable, growth factor

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Authors: A. Boudiaf

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The purpose of this paper is to analyze and apprehend, through four case studies, the interest of the project of the implementation of the quality management system (QMS) at four Moroccan small and medium-sized enterprises (SMEs). This project could generate significant organizational change to improve the functioning of the organization. In fact, quality is becoming a necessity in the current business world. It is considered to be a major component in companies’ competitive strategies. It should be noted that quality management is characterized by a set of methods and techniques that can be used to solve malfunctions and reorganize companies. It is useful to point out that the choice of the adoption of the quality approach could be influenced by the circumstances of the business context, it could also be derived from its strategic vision; this means that this choice can be characterized as either a strategic aspect or a reactive aspect. This would probably have a major impact on the functioning of the QMS and also on the perception of the quality issue by company managers and their employees.

Keywords: business context, organizational change, quality, reorganization

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Authors: Kiana Taheri

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Rural tourism has garnered significant attention as a catalyst for rural development and sustainability, particularly in regions like Tuscany, Italy, where the convergence of cultural heritage, picturesque landscapes, and agricultural traditions provides a fertile ground for tourism activities. This paper investigates the pivotal role of women entrepreneurs in driving sustainable rural tourism development, with a specific focus on Tuscany. Drawing upon a synthesis of literature on rural tourism, entrepreneurship, and gender studies, this research offers insights into how women entrepreneurs contribute to the economic, social, and environmental dimensions of rural tourism in Tuscany. The conceptual framework of this study is rooted in the evolving landscape of rural development, shaped by shifting paradigms in agricultural policies, such as the Common Agricultural Policy (CAP) of the European Union. This framework underscores the transition from traditional agrarian economies to dynamic rural tourism destinations characterized by a consumer-centric approach and a focus on sustainable development. Against this backdrop, the study delves into the multifaceted contributions of women entrepreneurs within the rural tourism sector. Central to the analysis is the recognition of rural tourism as a nexus of social, cultural, economic, and environmental interactions, wherein women entrepreneurs play a pivotal role in leveraging local resources, preserving cultural heritage, and fostering community engagement. By capitalizing on their unique perspectives, skills, and networks, women entrepreneurs drive innovation, diversification, and inclusivity within the tourism sector, thereby enhancing its resilience and long-term viability. Moreover, the study highlights the symbiotic relationship between rural tourism development and women's empowerment, as evidenced by the increasing prominence of women entrepreneurs in Tuscany's rural economy. Through their leadership roles in small and medium enterprises (SMEs) and agritourism ventures, women entrepreneurs not only contribute to economic growth but also challenge traditional gender norms and empower local communities. A key empirical focus of this research is a comprehensive case study of Tuscany, renowned for its successful rural tourism model and vibrant entrepreneurial ecosystem. Through qualitative interviews, surveys, and archival analysis, the study elucidates the strategies, challenges, and impacts of women entrepreneurs on sustainable rural tourism development in Tuscany. By examining the experiences of women entrepreneurs across diverse sectors of rural tourism, including hospitality, gastronomy, and cultural heritage, the study offers nuanced insights into their contributions to regional development and empowerment. In conclusion, this research contributes to the burgeoning scholarship on rural tourism, entrepreneurship, and gender studies by shedding light on the transformative role of women entrepreneurs in driving sustainable development agendas in rural areas. By elucidating the interplay between gender dynamics, entrepreneurial activities, and tourism development, this study seeks to inform policy interventions and strategic initiatives aimed at fostering inclusive and sustainable rural tourism ecosystems.

Keywords: rural tourism, women empowerment, entrepreneurship, sustainable development, small and medium-sized enterprises (SMEs)

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Authors: Liu Yao, B. T. Wan Maseri, Wan Mohd, B. T. Nurul Izzah, Mohd Shah, Wei Wei

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Effectively managing knowledge has become a vital weapon for businesses to survive or to succeed in the increasingly competitive market. But do they perform environmental analysis when managing knowledge? If yes, how is the level and significance? This paper established a conceptual framework covering the basic knowledge management activities (KMA) to examine their contribution towards organizational performance (OP). Environmental analysis (EA) was then investigated from both internal and external aspects, to identify its effects on that contribution. Data was collected from 400 Chinese SMEs by questionnaires. Cronbach's α and factor analysis were conducted. Regression results show that the external analysis presents higher level than internal analysis. However, the internal analysis mediates the effects of external analysis on the KMA-OP relation and plays more significant role in the relation comparing with the external analysis. Thus, firms shall improve environmental analysis especially the internal analysis to enhance their KM practices.

Keywords: knowledge management, environmental analysis, performance, mediating, small sized enterprises, medium sized enterprises

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Authors: Nguyen Thi Hoang Hieu

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Mergers and Acquisitions (M&A) activities have increasingly become popular in both developed and developing countries. It is also an attractive topic for researchers to exploit in various sectors such as business, economies or finance. However, activities of Small and Medium Enterprises (SMEs) in M&A activities for a long time have not been sufficiently studied to provide the complete picture of what has been really, particularly in the developing market like Vietnam. The study employs semi-structured in-depth interviews with experts who have worked for years in the M&A sector to explore the participation motivation of both buy side and sell side of M&A activities. In addition, through the interviews, the study attempts to explain how firms finance their M&A deals. The collected data then will be content-analyzed to reflect the study's expectations based on the theories and practices reviews. In addition, limitations and recommendations are given in the hope that the M&A performance in Vietnam can be improved in the future.

Keywords: mergers and acquisitions, Vietnam, small and medium enterprises, content-analysis, semi-structure in-depth interview

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Authors: Moustafa Osman

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The paper describes and analyses different good practice examples of protective levels, and initiatives actions (“framework conditions”) and encourages the uptake of environmental management systems (EMSs) to small and medium-sized enterprises (SMEs). Most of industries tend to take EMS as tools leading towards sustainability planning. The application of these tools has numerous environmental obligations that neither suggests decision nor recommends what a company should achieve ultimately. These set up clearly defined criteria to evaluate environmental protective action (EEPA) into sustainability indicators. The physical integration will evaluate how to incorporate traditional knowledge into baseline information, preparing impact prediction, and planning mitigation measures in monitoring conditions. Thereby efforts between the government, industry and community led protective action to concern with present needs for future generations, meeting the goal of sustainable development. The paper discusses how to set out distinct aspects of sustainable indicators and reflects inputs, outputs, and modes of impact on the environment.

Keywords: environmental management, sustainability, indicators, protective action

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Authors: Romain Ben Taleb, Aurélie Montarnal, Matthieu Lauras, Mathieu Dahan, Romain Miclo

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To be competitive and sustainable, any company has to maximize its value. However, unlike listed companies that can assess their values based on market shares, most Small and Medium Enterprises (SMEs) which are non-listed cannot have direct and live access to this critical information. Traditional accounting reports only give limited insights to SME decision-makers about the real impact of their day-to-day decisions on the company’s performance and value. Most of the time, an SME’s financial valuation is made one time a year as the associated process is time and resource-consuming, requiring several months and external expertise to be completed. To solve this issue, we propose in this paper a value-oriented metamodel that enables real-time and dynamic assessment of the SME’s value based on the large definition of their assets. These assets cover a wider scope of resources of the company and better account for immaterial assets. The proposal, which is illustrated in a case study, discusses the benefits of incorporating assets in the SME valuation.

Keywords: SME, metamodel, decision support system, financial valuation, assets

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Authors: María-José Palacin-Sanchez, Filippo Di Pietro, Reyes Samaniego-Medina

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This article examines, in an institutional context such as Spanish one, the corporate board structure characteristics and determinants in entrepreneurial firms to go public. Specifically, it explores these issues through all the initial public offerings in the Spanish Alternative Equity Market (MAB), which is a market segment for smaller growing companies. The results show that: a) firm size, age of the company, and the reputation of the auditor and the nominated advisor and Corporate Governance Code favour a larger and more independent board structure that enhances its monitoring functions; and b) leverage, opportunities of growth, sector risk and ownership by executive directors all lead towards a smaller broad of directors where the role of entrepreneurship provided by executive directors remains crucial. This reflects the delicate balance of power between small-business entrepreneurs and financial equity market forces, which demand more transparency and monitoring in the companies.

Keywords: board composition, board size, corporate governance, IPO, SMEs

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Authors: Sabita Mahapatra

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‘Going green’ has been an emerging issue worldwide driving companies to continuously enhance their green capabilities and implement innovative green practices to protect the environment and improve business performance. Green has become a contemporary business environmental issue. The resource advantage theory is adopted in the present study to observe the impact of marketing orientation and green innovation practices on environmental and firm’s performance. The small and medium firms compared to large firms have different approach towards market orientation as a strategic tool. The present study proposes a conceptual framework regarding the impact of market orientation on environmental and firm’s performance through green innovation practices in the context of small and medium scale industries (SMEs). The propositions developed in the present paper would provide scope for future research study to validate the conceptual framework in the emerging economy like India.

Keywords: market orientation, green innovation practices, environment performance, corporate performance, emerging market

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Authors: Mohamed Haffar, Ramdane Djebarni, Russell Evans

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Despite a growth in literature on distributed leadership, the majority of studies are centred on large public organisations particularly within the health and education sectors. The purpose of this study is to fill the gap in the literature by exploring employee experiences of distributed leadership within two commercial consultancy SME businesses in the UK and USA. The aim of the study informed an exploratory method of research to gather qualitative data drawn from semi-structured interviews involving a sample of employees in each organisation. A series of broad, open questions were used to explore the employees’ experiences; evidence of distributed leadership; and extant barriers and practices in each organisation. Whilst some of our findings aligned with patterns and practices in the existing literature, it importantly discovered some emergent themes that have not previously been recognised in the previous studies. Our investigation identified that whilst distributed leadership was in evidence in both organisations, the interviewees’ experience reported that it was sporadic and inconsistent. Moreover, non-client focused projects were reported to be less important and distributed leadership was found to be inconsistent or non-existent.

Keywords: consultancy, distributed leadership, owner-manager, SME, entrepreneur

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Authors: Asifa Fitriani, Galih Prakoso

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This study aims to improve the design layout of a Micro, Small and Medium Enterprises (SMEs) to minimize material handling and redesigning the layout of production facilities based on the safety and health and standards of food production facilities. Problems layout in the one of chip making industry mushrooms in Indonesia is cross movement between work stations, work accidents, and the standard of facilities that do not conform with the standards of the food industry. Improvement layout design using CORELAP and 5S method to give recommendation and implementation of occupational health and safety standards of food production facilities. From the analysis, improved layout using CORELAP provide a smaller displacement distance is 155.84 meters from the initial displacement distance of 335.9 meters, and providing a shorter processing time than the original 112.726 seconds to 102.831 seconds. 5S method also has recommended the completion of occupational health and safety issues as well as the standard means of food production by changing the working environment better.

Keywords: Layout Design, Corelap, 5S

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Authors: Pongsiri Kamkankaew

Abstract:

This paper experiments to consider brand equity thought in Thai academic works. This essay employs that the first emerging of brand equity in Thai academic works and the components of brand equity which explore the extent to the convoluted approach with other Thai social condition. In Thailand, brand equity is supposed to provide branding and brand management replacement. However, the commitment of brand equity imposes in its proposal for seemly application in Thai context – to develop the brand equity framework by the Thai social – culture and Thai utilization style which it is questionable whether the brand equity in western conception is useful for characterizing the brand equity in Thailand context. In this position, brand equity also aspects several major questions: How can western conception lead to apply in Thai business? How can diversification be given within Thai SMEs business running? Can corporate brand valuation approach adopt in real business doing? So this paper argues that Thai brand equity notion should reduce disturb over improvement of its self-restraint and business area. Instead, Thai academic who are interested in brand equity can harmonize different mature bodies of discipline and other investigative a frame of references to complete and open the recognizing of brand equity.

Keywords: Thai brand equity, knowledge critical, brand management, branding

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Authors: Rihab Hentati, Younes Boujelbene

Abstract:

Nowadays we realize more and more than the value of a company is not only a function of its means of production but depends essentially on the managerial aptitude and orientation to implement the material and human means for generating profitability. Indeed, a productive R&D activity, a good strategy, and innovation are originally supplementary benefits that increase the value of the business. Is this ‘value-added’ closely linked to innovation? The purpose of our research is to Meta-analyze the results of 56 empirical studies in order to explain the overall effect of innovation on performance of small and medium-sized enterprises. In order to justify the differences in the results, we look for the moderating factors that may affect the innovation-performance relationship. We find a positive and significant relationship between innovation and performance in small and medium-sized enterprises. The results also note a positive relationship between entrepreneurial orientation, research and development (R&D), and performance in SMEs. In addition, innovation has a strong impact on performance measured both with accounting and market index. The originality of the article is based on a rigorous synthesis, based on several statistical tools, of an important subject of research in finance.

Keywords: innovation, performance, entrepreneurial orientation, meta-analysis, moderator variables

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Authors: Arturo J. Anci Alméstar, Jose D. Fernandez Huapaya, David Mauricio

Abstract:

Companies make erroneous decisions by not evaluating the inherent difficulties of entering electronic commerce without a prior review of current digital and alternate means of payment. For this reason, it is very important for businesses to have reliable, complete and integrated information on the means of current digital and alternate payments that allow decisions to be made about which of these to use. However, there is no such consolidated information or criteria that companies use to make decisions about the means of payment according to their needs. In this paper, we propose a decision tree model based on a taxonomy that presents us with a categorization of digital and alternative means of payment, as well as the visualization of the flow of information at a high level from the company to obtain a recommendation. This will allow the company to make the most appropriate decision about the implementation of the digital means of payment or alternative ideal for their needs, which allows a reduction in costs and complexity of the payment process. Likewise, the efficiency of the proposed model was evaluated through a satisfaction survey presented to company personnel, confirming the satisfactory quality level of the recommendations obtained by the model.

Keywords: digital payment medium, decision tree, decision making, digital payments taxonomy

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Authors: Kurotimi Maurice Fems, Abara Onu, Francis W. D. Poazi

Abstract:

Scholars and development economists believe that the development of an economy depends largely on the creative and innovative ingenuity of its entrepreneurs. Others however, are of the opinion that the lack of entrepreneurs or entrepreneurial activities is not a constraint to economic development in any economy, particularly Nigeria. This paper sets out to explore the connectivity between entrepreneurship and economic development from a theoretical point of view, principally in Nigeria. A desk research approach was adopted where a conglomerate of literatures was reviewed on how entrepreneurship can spur economic growth or otherwise. The findings reveal that entrepreneurship is vital to the development of Nigeria and that, universities and other Higher Education Institutions must play the vital role of educating the people on entrepreneurship skills and competences. However, the problems and difficulties entrepreneurs face in Nigeria and the same problems suffocating the growth and development of its economy. Therefore, entrepreneurship cannot be said to be the sole cure for economic under-development in Nigeria but rather other factors such as empowering and granting the institutions autonomy and the provision of infrastructural capability, such as consistent electricity generation and supply, good system of transportation, implementing proposed economic policies in an effective and efficient manner etc., the cultural beliefs and mindset of the citizenry, was also found to be key in the development of any economy.

Keywords: economic underdevelopment, entrepreneurial, entrepreneurship, infrastructural under-development, oil boom, SMEs, unemployable

Procedia PDF Downloads 273