Search results for: cross-cultural business communications

Authors: Theresia Dwi Hastuti, Kristiana Haryanti, Agustine Eva Maria Soekesi

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Today's family business continues to grow in big cities and in rural areas throughout Indonesia in line with the development of the business world and global competition. This study aims to analyze the effect of company value, leadership, and ownership succession on the financial performance of the family business. The research method was carried out quantitatively with multiple regression. The respondent amounted to 63 entrepreneurs. This study found that company value, leadership succession, relationships, and communication affect the financial performance of the family business.

Keywords: company value, family business, financial performance, leadership succession, ownership succession

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Authors: Alireza Nikravanshallmani, Jamshid Dehmeshki, Mojtaba Ahmadi

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Modeling of business processes, based on BPMN (Business Process Modeling Notation), helps analysts and managers to understand business processes, and, identify their shortages. These models provide a context to make rational decision of organizing business processes activities in an understandable manner. The purpose of this paper is to provide a framework for better understanding of business processes and their problems by reducing the cognitive load of displayed information for their audience at different managerial levels while keeping the essential information which are needed by them. For this reason, we integrate business process diagrams across the different managerial levels to develop a framework to improve the performance of business process management (BPM) projects. The proposed framework is entitled ‘Business process improvement framework based on managerial levels (BPIML)’. This framework, determine a certain type of business process diagrams (BPD) based on BPMN with respect to the objectives and tasks of the various managerial levels of organizations and their roles in BPM projects. This framework will make us able to provide the necessary support for making decisions about business processes. The framework is evaluated with a case study in a real business process improvement project, to demonstrate its superiority over the conventional method. A questionnaire consisted of 10 questions using Likert scale was designed and given to the participants (managers of Bank Refah Kargaran three managerial levels). By examining the results of the questionnaire, it can be said that the proposed framework provide support for correct and timely decisions by increasing the clarity and transparency of the business processes which led to success in BPM projects.

Keywords: business process management (BPM), business process modeling, business process reengineering (BPR), business process optimizing, BPMN

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Authors: Fatima Homor

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The new era in business has started, according to my research paper findings, corporate social responsibility leads organizations to an incomparable advantage phase, where competition is secondary and financial growth is a result. Those who join later, lose their active advantage and cause passive disadvantage for their organizations. The main purpose of this presentation is to state the obvious and shed the light of the advantages of doing good, while doing well for multinational enterprises, extremely low fluctuation (preventing one of the highest costs), significantly lower marketing budget, enhanced reputation causing customer and supplier loyalty, employee commitment results in higher motivation level leading to better quality at each stages, Corporate Social Responsibility brings Unique Selling Proposition incomparable to others. The paper is based on a large research work conducted for the University of Liverpool Masters in Business Administration program, with the title of Corporate Social Responsibility for Multinational Enterprises to gain incomparable advantage. The research is based on both recent secondary data, but most importantly on 25 interviews with Chief Executive Officers at Multinational Enterprises and / or the Human Resources / corporate communications directors. The direct gains on Corporate Social Responsibility are analyzed when it is embedded into the core of the business. It is evident that project based Corporate Social Responsibility is not effective neither from the supported topic, Non-governmental Organizations point of view nor from the organization’s long-term sustainability point of view. Surveys have been conducted, data compared and consequences drawn. Corporate Social Responsibility must be started inside of the business to strengthen it. First, commit employees. It must come from the Chief Executive Officer. It must be related to the business profile. It has to be long term. They will commit customers. B-corps are coming (e.g. Unilever); the phenomenon of social enterprises has become a leading one.

Keywords: B-corps, embedded into core business, first inside, unique advantage

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Authors: Seonjae Lee, Sungjoo Lee

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Excavation is necessary to remain competitive in the current business environment. The company survived the rapidly changing industry conditions by adapting new business strategy and reducing technology challenges. Traditionally, the two methods are conducted excavations for new businesses. The first method is, qualitative analysis of expert opinion, which is gathered through opportunities and secondly, new technologies are discovered through quantitative data analysis of method patents. The second method increases time and cost. Patent data is restricted for use and the purpose of discovering business opportunities. This study presents the company's characteristics (sector, size, etc.), of new business opportunities in customized form by reviewing the value chain perspective and to contributing to creating new business opportunities in the proposed model. It utilizes the trademark database of the Korean Intellectual Property Office (KIPO) and proprietary company information database of the Korea Enterprise Data (KED). This data is key to discovering new business opportunities with analysis of competitors and advanced business trademarks (Module 1) and trading analysis of competitors found in the KED (Module 2).

Keywords: value chain, trademark, trading analysis, new business opportunity

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Authors: Allan Chia, Gabriel Gervais

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The case study on FoodXervices Inc shows how businesses need to reinvent and transform themselves in order to adapt and thrive and it also features how an SME can also devote resources to CSR causes. The company, Ng Chye Mong, was set up in 1937 and it went through ups and downs and encountered several failures and successes. In the 1970’s, the management of the company was entrusted to the next generation who continued to manage and expanded the business. In early 2003, the business encountered several challenges. A pair of siblings from the next generation of the Ng family joined the business fulltime and together they set-out to transform the company into FoodXervices Inc. In 2012, they started a charity, Food Bank Singapore Pte Ltd. The authors conducted case study research involving a series of in-depth interviews with the business owner and staff. This case study is an example of how to run a business and coordinate a charity concurrently while mobilising the same resources. The uniqueness of this case is the operational synergy of both the business and charity to promote corporate responsibility causes and initiatives in Singapore.

Keywords: family-owned business, charity, corporate social responsibility, branding

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Authors: Aleksandar Chonevski

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The free-market economy provides many opportunities for entrepreneurship or starting one’s own business, attracting many students to study business at for-profit colleges in the United States. This is also true for international students, many of whom are filled with the hope of making a better life for themselves and their families through entrepreneurial endeavors. This qualitative research showed that not all graduates business students start their own business. In investigating this phenomenon, the effectiveness of entrepreneurship curricula at international colleges needs to be examined in order to adjust, improve and reform entrepreneurship curricula. This qualitative study will explore how business skills learned in college for-profit play a role in the entrepreneurial readiness of undergraduate business students in the south Florida. Business curricula helps international students achieve goals and transform their actions to understand challenges in a corporate society. Students will be interviewed to gain information about the students’ experience with entrepreneurship curricula in a for-profit college in south Florida.

Keywords: business skills, college curriculum, entrepreneurial readiness, international students

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Authors: Ted Gournelos

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Marketing approaches in practice and academic literature usually foreground the importance of product and brand awareness in strategy. Decisions emphasize justifications and promotions of existing projects, which has the unintended consequence of pushing marketing, public relations, and other communications to secondary strategies and tactics rather than as inherent pieces of organizational development. In other words, marketers implement what others have already decided. This is a challenge not only for the communications field, but also for the organizations themselves, since integrated communications employees are often the primary, if not the only, touchpoints for client/customer/user research and interaction. Organizations thus become increasingly out of touch, raising the risk of public or human resources crisis and decreasing the focus on opportunities for development and growth. This paper will discuss the potential for social entrepreneurship to refocus marketing and communications professionals on primary strategy, and suggest best practices for developing initiatives not only to impact marketing efforts themselves, but also the guiding organizational approaches to project management, human resources, corporate social responsibility, and research. It will provide a comparative analysis of social media marketing efforts conducted by food security non-governmental organizations from several countries, pointing out both flaws and areas of opportunity for integration with for-profit organizational strategy, and discuss the implications of descriptive, proactive, and interactive messaging.

Keywords: social enterprise, strategy, innovation, social media

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Authors: Dwi Purnomo, Anas Bunyamin, Fajar Susilo, Akbar Anugrah

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Beekeeping became a rural economic buffer, especially for people who lived by forest side to diversify their food or sell the honey and bee colony. Aside from the high price of honey and it’s derivative products, there is another revenue stream along beekeeping value chain that could be optimized by the people. There are five of nine honey bee species in the world, exist in Indonesia, such as Apis Cerana, Apis Dorsata, Apis Andreniformis, Apis Koschevnikovi, and Apis Nigrocincta. Indonesian farmer generally developed Apis Cerana and two other honey bees species, like Apis Mellifera and Trigona. This study tried to identify, how beekeeping business practices, challenges and opportunities in four beekeeping business in West Java through the value chain along the business. Data carried out by literature review, interview and focus group discussion with key actors in beekeeping business. There are six revenue stream in beekeeping business in West Java, such as brood hunter, beehives maker, agroforestry, agro-tourism, honey and derivatives products and bee acupuncture. This assesses conclude any criteria that should grasp for developing and sustaining beekeeping business in West Java.

Keywords: beekeeping business, business developing, value chain, West Java

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Authors: Andrea Bellucci, Martina Tofi

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The aim of paper is to analyze business models of bancassurance in Italy for life business. The life insurance business is very developed in the Italian market and banks branches have 80% of the market share. Given its maturity, the life insurance market needs to consolidate its organizational form to allow for the development of non-life business, which nowadays collects few premiums but represents a great opportunity to enlarge the market share of bancassurance using its strength in the distribution channel while the market share of independent agents is decreasing. Starting with the main business model of bancassurance for life business, this paper will analyze the performances of life companies in the Italian market by balance sheet indicators and by main discriminant variables of business models. The study will observe trends from 2013 to 2015 for the Italian market by exploiting a database managed by Associazione Nazionale delle Imprese di Assicurazione (ANIA). The applied approach is based on a bottom-up analysis starting with variables and indicators to define business models’ classification. The statistical classification algorithm proposed by Ward is employed to design business models’ profiles. Results from the analysis will be a representation of the main business models built by their profile related to indicators. In that way, an unsupervised analysis is developed that has the limit of its judgmental dimension based on research opinion, but it is possible to obtain a design of effective business models.

Keywords: bancassurance, business model, non life bancassurance, insurance business value drivers

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Authors: Rattakorn Poonsuph

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Technological innovation plays a crucial role in virtual healthcare services. A growing number of telehealth platforms are concentrating on using digital tools to improve the quality and availability of care. As a result, telehealth represents an opportunity to redesign the way health services are delivered. The research objective is to discover a new business model for digital health services and related industries to participate with telehealth solutions. The business opportunity is valuable for healthcare investors as a startup company to further investigations or implement the telehealth platform. The paper presents a digital healthcare business model and business opportunities to related industries. These include digital healthcare services extending from a traditional business model and use cases of business opportunities to related industries. Although there are enormous business opportunities, telehealth is still challenging due to the patient adaption and digital transformation process within a healthcare organization.

Keywords: telehealth, Internet hospital, HealthTech, InsurTech

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Authors: K. Debkowska

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The aim of this article is presenting the possibilities of using Fuzzy Set Qualitative Comparative Analysis (fsQCA) in researches concerning business models of enterprises. FsQCA is a bridge between quantitative and qualitative researches. It's potential can be used in analysis and evaluation of business models. The article presents the results of a study conducted on the basis of enterprises belonging to different sectors: transport and logistics, industry, building construction, and trade. The enterprises have been researched taking into account the components of business models and the financial condition of companies. Business models are areas of complex and heterogeneous nature. The use of fsQCA has enabled to answer the following question: which components of a business model and in which configuration influence better financial condition of enterprises. The analysis has been performed separately for particular sectors. This enabled to compare the combinations of business models' components which actively influence the financial condition of enterprises in analyzed sectors. The following components of business models were analyzed for the purposes of the study: Key Partners, Key Activities, Key Resources, Value Proposition, Channels, Cost Structure, Revenue Streams, Customer Segment and Customer Relationships. These components of the study constituted the variables shaping the financial results of enterprises. The results of the study lead us to believe that fsQCA can help in analyzing and evaluating a business model, which is important in terms of making a business decision about the business model used or its change. In addition, results obtained by fsQCA can be applied by all stakeholders connected with the company.

Keywords: business models, components of business models, data analysis, fsQCA

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Authors: Tizian Matschak, Ilja Nastjuk, Stephan Kühnel, Simon Trang

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We argue that besides well-known primary effects of information security controls (ISCs), namely confidentiality, integrity, and availability, ISCs can also have secondary effects. For example, while IT can add business value through impacts on business processes, ISCs can be a barrier and distort the relationship between IT and organizational value through the impact on business processes. By applying the Delphi method with 28 experts, we derived 27 business process influence dimensions of ISCs. Defining and understanding these mechanisms can change the common understanding of the cost-benefit valuation of IT security investments and support managers' effective and efficient decision-making.

Keywords: business process dimensions, dark side of information security, Delphi study, IT security controls

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Authors: Elisa Pautasso, Matteo Castagno, Michele Osella

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In the last decade, the emergence of new social needs as an effect of the economic crisis has stimulated the flourishing of business endeavours characterised by explicit social goals. Social start-ups, social enterprises or Corporate Social Responsibility operations carried out by traditional companies are quintessential examples in this regard. This paper analyses these kinds of initiatives in order to discover the main characteristics of social business models and to provide insights to social entrepreneurs for developing or improving their strategies. The research is conducted through the integration of literature review and case study analysis and, thanks to the recognition of the importance of both profits and social impacts as the key success factors for a social business model, proposes a framework for identifying indicators suitable for measuring the social impacts generated.

Keywords: business model, case study, impacts, social business

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Authors: Seppo Sirkemaa

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Information systems infrastructure is the basis of business systems and processes in the company. It should be a reliable platform for business processes and activities but also have the flexibility to change business needs. The development of an infrastructure that is robust, reliable, and flexible is a challenge. Understanding technological capabilities and business needs is a key element in the development of successful information systems infrastructure.

Keywords: development, information technology, networks, technology

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Authors: Karoliina Nisula, Samuli Pekkola

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Business education has been criticized for being too theoretical and distant from business life. Different types of experiential learning environments ranging from manual role-play to computer simulations and enterprise resource planning (ERP) systems have been used to introduce the realistic and practical experience into business learning. Each of these learning environments approaches business learning from a different perspective. The implementations tend to be individual exercises supplementing the traditional courses. We suggest combining them into a business skills laboratory resembling an actual workplace. In this paper, we present a concrete implementation of an ERP-supported business learning environment that is used throughout the first year undergraduate business curriculum. We validate the implementation by evaluating the learning outcomes through the different domains of Bloom’s taxonomy. We use the role-play oriented practice enterprise model as a comparison group. Our findings indicate that using the ERP simulation improves the poor and average students’ lower-level cognitive learning. On the affective domain, the ERP-simulation appears to enhance motivation to learn as well as perceived acquisition of practical hands-on skills.

Keywords: business simulations, experiential learning, ERP systems, learning environments

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Authors: Havva Nur Tarakci, Bahar Urhan Torun

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The transformation that is seen in every area of life by technology, especially internet technology changes the structure of political communications too. Internet, which is at the top of new communication technologies, affects political communications with its structure in a way that no traditional communication tools ever have and enables interaction and the channel between receiver and sender, and it becomes one of the most effective tools preferred among the political communication applications. This state as a result of technological convergence makes Internet an unobtainable place for political communication campaigns. Political communications, which means every kind of communication strategies that political parties called 'actors of political communications' use with the aim of messaging their opinions and party programmes to their present and potential voters who are a target group for them, is a type of communication that is frequently used also among social media tools at the present day. The electorate consisting of different structures is informed, directed, and managed by social media tools. Political parties easily reach their electorate by these tools without any limitations of both time and place and also are able to take the opinions and reactions of their electorate by the element of interaction that is a feature of social media. In this context, Facebook, which is a place that political parties use in social media at most, is a communication network including in our daily life since 2004. As it is one of the most popular social networks today, it is among the most-visited websites in the global scale. In this way, the research is based on the question, “How do the political parties use Facebook at the campaigns, which they conduct during the election periods, for informing their voters?” and it aims at clarifying the Facebook using practices of the political parties. In direction of this objective the official Facebook accounts of the four political parties (JDP–AKParti, PDP–BDP, RPP-CHP, NMP-MHP), which reach their voters by social media besides other communication tools, are treated, and a frame for the politics of Turkey is formed. The time of examination is constricted with totally two weeks, one week before the mayoral elections and one week after the mayoral elections, when it is supposed that the political parties use their Facebook accounts in full swing. As a research method, the method of content analysis is preferred, and the texts and the visual elements that are gotten are interpreted based on this analysis.

Keywords: Facebook, political communications, social media, electrorate

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Authors: Pin Yu Chen, Puay Chuan Lee, Yu Jen Loo, Ju Xia Zhang, Deborah Teo, Jack Wei Chieh Tan, Biauw Chi Ong

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Background: Synchronous communication, such as telephone calls, remains the standard communication method between nurses and other healthcare professionals in Singapore public hospitals despite advances in asynchronous technological platforms, such as instant messaging. Although miscommunication is one of the most common causes of lapses in patient care, there is a scarcity of research characterizing baseline inter-professional healthcare communications in a hospital setting due to logistic difficulties. Objective: This study aims to characterize the frequency and patterns of communication behaviours among healthcare professionals. Methods: The one-week observational study was conducted on Monday through Sunday at the nursing station of a cardiovascular medicine and cardiothoracic surgery inpatient ward at the National Heart Centre Singapore. Subjects were shadowed by two physicians for sixteen hours or consecutive morning and afternoon nursing shifts. Communications were logged and characterized by type, duration, caller, and recipient. Results: A total of 1,023 communication events involving the attempted use of the common telephones at the nursing station were logged over a period of one week, corresponding to a frequency of one event every 5.45 minutes (SD 6.98, range 0-56 minutes). Nurses initiated the highest proportion of outbound calls (38.7%) via the nursing station common phone. A total of 179 face-to-face communications (17.5%), 362 inbound calls (35.39%), 481 outbound calls (47.02%), and 1 emergency alert (0.10%) were captured. Average response time for task-oriented communications was 159 minutes (SD 387.6, range 86-231). Approximately 1 in 3 communications captured aimed to clarify patient-related information. The total duration of time spent on synchronous communication events over one week, calculated from total inbound and outbound calls, was estimated to be a total of 7 hours. Conclusion: The results of our study showed that there is a significant amount of time spent on inter-professional healthcare communications via synchronous channels. Integration of patient-related information and use of asynchronous communication channels may help to reduce the redundancy of communications and clarifications. Future studies should explore the use of asynchronous mobile platforms to address the inefficiencies observed in healthcare communications.

Keywords: healthcare communication, healthcare management, nursing, qualitative observational study

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Authors: Mohammad Yahaghifar

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Nowadays Wireless system designers have been facing the continuously increasing demand for high data rates and mobility required by new wireless applications. Evolving future communication network generation cellular wireless networks are envisioned to overcome the fundamental challenges of existing cellular networks, for example, higher data rates, excellent end-to-end performance, and user coverage in hot-spots and crowded areas with lower latency,energy consumption and cost per information transfer. In this paper we propose a potential cellular architecture that separates indoor and outdoor scenarios and discuss various promising technologies for future wireless communication systemssystems, such as massive MIMO, energy-efficient communications,cognitive radio networks, and visible light communications and we disscuse about 5G that is next generation of wireless networks.

Keywords: future challenges in networks, cellur architecture, visible light communication, 5G wireless technologies, spatial modulation, massiva mimo, cognitive radio network, green communications

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Authors: Paul Ihuoma Oluikpe

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The purpose of this paper is to explore and highlight the process of creating value for strategy management by embedding knowledge management in the business process. Knowledge management can be seen from a three-dimensional perspective of content, connections and competencies. These dimensions can be embedded in the knowledge processes (create, capture, share, and apply) and operationalized within a business process to effectively create a scenario where knowledge can be focused on enabling a process and the process in turn generates outcomes. The application of knowledge management on business processes of organizations is rare and underreported. Few researches have explored this paradigm although researches have tended to reinforce the notion that competitive advantage sits within the internal aspects of the firm. Given this notion, it is surprising that knowledge management research and practice have not focused sufficiently on the business process which is the basic unit of organizational decision implementation. This research serves to generate understanding on applying KM in business process using a large multinational in Sub-Saharan Africa.

Keywords: knowledge management, business process, strategy, multinational

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Authors: Aravind Mohan Krishnan

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This paper identifies a research gap in the literature on tourism entrepreneurship in Malawi, Africa, and investigates how entrepreneurs from the Malawian tourism sector discover and exploit business opportunities. In particular, the importance of prior experience and business networks in the opportunity development process is debated. Another area of empirical research examined here is the opportunity recognition-venture creation sequence. While Malawi presents fruitful business opportunities, exploiting these opportunities into fully realized business ideas is a real challenge due to the country’s difficult business environment and poor promotional and marketing efforts. The study concludes by calling for further research in Sub-Saharan Africa in order to develop our understanding of entrepreneurship in this (African) context.

Keywords: entrepreneurship, Malawi, opportunities, tourism

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Authors: Saeed Mohammadirad

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Financing activities involve long-term liabilities, stockholders' equity (or owner's equity), and changes to short-term borrowings. Finance is very important for every business activities. To perform the finance we have to follow the accounting languages bases on the nature of the business. If all are one package in the software, it is easy to handle, monitor, control, plan, organize, direct and budget the finance. Let us make a challenge in the computer software for the whole finance packages of every business related activities. In this article, it mentioned about the finance functions in the various levels of the business activities and how it should be maintained properly to avoid the unethical events.

Keywords: financing activities, business activities, computer software, unethical events

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Authors: Poramet Saeng-On

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The purpose of this study was to investigate the roles of provincial governments and private sectors in managing business resources of Ranong province, Thailand. The sample group of this study included 15 organizations and the tool of the research included interview questions, recording tape, and notes. This study employed a qualitative technique by utilizing in-depth interview and document research techniques. The findings revealed that government and private organizations did not have any direct roles in managing business resources of Ranong Province and did not have any knowledge of the plan to manage business resources. However, all agreed that there should be a plan to manage business resources effectively and efficiently. Moreover, both private and government organizations also agree to cooperate to manage business resources to benefits all stakeholders.

Keywords: business resources, provincial government, roles, non-government organizations

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Authors: Poonsuck Thatchaopas, Nik Kamariah Nik Mat, Nattakarn Eakuru

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“One College One Product” OCOP business model is launched by the Vocational Education Commission to encourage college students to choose at least one product for business venture. However, the number of successful OCOP projects is still minimal. The objective of this paper is to identify the critical success factors needed to be a successful OCOP business entrepreneur. This study uses qualitative method by interviewing business partners of an OCOP business called Crispy Roti Krua Acheeva Brand (CRKAB). This project was initiated by three female alumni students of the CRKAB. The finding shows that the main critical success factors are self-confidence, creativity or innovativeness, knowledge, skills and perseverance. Additionally, they reiterated that the keys to business success are product quality, perceived price, promotion, branding, new packaging to increase sales and continuous developments. The results implies for a business SME to be successful, the company should have credible partners and effective marketing plan.

Keywords: new entrepreneurship student model, business incubator, food industry, Pattani Province, Thailand

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Authors: Marian Sorin Ionescu, Olivia Negoita, Cosmin Dobrin

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This scientific communication reports and discusses learning models adaptable to modern business problems and models specific to digital concepts and paradigms. In the PAC (probably approximately correct) learning model approach, in which the learning process begins by receiving a batch of learning examples, the set of learning processes is used to acquire a hypothesis, and when the learning process is fully used, this hypothesis is used in the prediction of new operational examples. For complex business models, a lot of models should be introduced and evaluated to estimate the induced results so that the totality of the results are used to develop a predictive rule, which anticipates the choice of new models. In opposition, for online learning-type processes, there is no separation between the learning (training) and predictive phase. Every time a business model is approached, a test example is considered from the beginning until the prediction of the appearance of a model considered correct from the point of view of the business decision. After choosing choice a part of the business model, the label with the logical value "true" is known. Some of the business models are used as examples of learning (training), which helps to improve the prediction mechanisms for future business models.

Keywords: machine learning, business models, convex analysis, online learning

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Authors: Krešimir Fertalj, Mladen Matejaš

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In turbulent modern economy, the companies need to properly manage their business processes. Well defined and stable business processes ensure the security of crucial data and application, and provide a quality product or service to the end customer. On the other side constant changes on the market, new regulatory provisions and emerging new technologies require the need of issuing prompt and effective changes of business process. In this article, we explore the use of agile principles in working with business process management (BPM) solutions. We deal with difficulties in BPM development cycle, review the benefits of using agility and choose the basic agile principles that ensure the success of a BPM project.

Keywords: agile development, BPM environment, Kanban, SCRUM, XP

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Authors: Xhevrie Mamaqi

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Organization capacity learning is a process referring to the sum total of individual and collective learning through training programs, experience and experimentation, among others. Today, in-business ongoing training is one of the most important strategies for human capital development and it is crucial to sustain and improve workers’ knowledge and skills. Many organizations, firms and business are adopting a strategy of continuous learning, encouraging employees to learn new skills continually to be innovative and to try new processes and work in order to achieve a competitive advantage and superior business results. This paper uses the Resource Based View and Capacities (RBV) approach to construct a hypothetical relationships model between training and business results. The test of the model is applied on transversal data. A sample of 266 business of Spanish sector service has been selected. A Structural Equation Model (SEM) is used to estimate the relationship between ongoing training, represented by two latent dimension denominated Human and Social Capital resources and economic business results. The coefficients estimated have shown the efficient of some training aspects explaining the variation in business results.

Keywords: business results, human and social capital resources, training, RBV theory, SEM

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Authors: Muhammad Waseem Akram

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The current study attempts to analyze the impact of business constraints on the growth potential and performance of Small and Medium Enterprises (SMEs) in the electrical industry of Pakistan. Primary data have been utilized for the study collected from the electrical industry cluster in Sargodha, Pakistan. OLS regression is used to assess the impact of business constraints on the performance of SMEs by controlling the effect of Technology Level, Innovations, and Firm Size. To associate business constraints with the growth potential of SMEs, the study utilized Tetrachoric Correlation and Logistic Regression. Findings reveal that all the business constraints negatively affect the performance of SMEs in the electrical industry except Political Instability. Results of Tetrachoric Correlation show that all the business constraints are negatively correlated with the growth potential of SMEs. Logistic Regression results show that Energy Constraint, Inflation and Price Instability, and Bad Business Practices, all three business constraints cause to reduce the probability of income growth in sample SMEs.

Keywords: SMEs, business constraints, performance, growth potential

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Authors: Azmi Umar, Rohana Ngah

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The aim of this paper is to examine the relationship of entrepreneurial competencies on business success in the context of Malaysian SMEs. In the recent study, when the business environment is hostile and dynamic, the entrepreneurial competencies are identified as the most important factor in business success. Entrepreneurial competencies are also connected directly to business performance. Beside entrepreneurial competencies, the entrepreneurs should also be competent to create an innovation and brand equity for business growth. The innovation and brand equity contributed to competitive advantages that lead to business growth and success. This paper adopts the Resource Based Theory (RBT) which emphasize that entrepreneurial competencies, innovation and brand equity are valuable and intangible resources that lead towards the success of business; and Brand Equity Creation Process Model (BECPM). A quantitative methodology was used to collect the data from owner/managers of Malaysian SMEs. Data were analyzed by using SPSS and SEM software. Hence, findings of the present study would be essential for owner/managers and strategy makers to enhance the entrepreneurial competencies; innovation and brand equity of SMEs in Malaysia towards global competition.

Keywords: entrepreneurial competencies, innovation, brand equity, business success, SMEs

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Authors: Oghenerume V. Edah, Damilola T. Aladejana

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Entrepreneurship Education is the process of developing and acquiring entrepreneur skills on how to identify a new business and launching the business with the realization of yielding profit optimally. It’s the process of knowing how to take risk and handle challenges that accompanies a new business without the mindset of closing it when it fails. It includes steps to take when a business is recognized, combined with acquiring resources (e.g. finances, labor, land) in the face of risk and launching the new business. Additionally, Entrepreneurship is defined as the ability and willingness to set a business in the event of making profit. It is the act of starting up a business to solve big problems or present a new life-changing solution in the society to generate profit. It’s a process where a business opportunity is identified; planned, acquired and needful steps are taken to launch a business. This involves taking up financial risk, acquiring natural resources, combined with land, capital and building up a team of people who would individually contribute or add value in order to make the new business a success. Moreover, Education is the learning of new skills or value. It’s the acquiring of knowledge and capability of doing new things. It is been able to differentiate what you know and what you don’t know yet. In this modern world, the emergence of entrepreneurship education has been magnificent. An average of 60 percent humans wants to start a business or become an entrepreneur without knowing the steps on how to startup. Moreover, many of them are good starters and they end up failing when the business is not managed well. The introduction of Entrepreneur Education in our world today would change the face of business phenomenally. It would involve the acquisition of entrepreneur skills, knowledge and attitude towards initiating a business venture. The impact of Entrepreneurship Education in our world today would increase the chances of business success because it would generate better entrepreneurs. The skills, values, concept and processes acquired through learning have changed the face of business to a positive direction globally and the impact can be felt. Entrepreneurship can be taught and also can be learnt. Like any skills it can be known.

Keywords: entrepreneurship, education, business, entrepreneur, skills

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Authors: Hailemariam Gebremichael Gebretsadik, Abrham Hagos Tesfaslasea

Abstract:

To satisfy the high need for ICT entrepreneurship and rectify the weak entrepreneurial culture in Ethiopia, the country has established ICT Business incubation centers with the intention of preventing business failures, promoting innovation, and accelerating the growth and success of firms. This study investigates the role of business incubators and social capital on the innovation and growth of firms in Ethiopia. In this research, innovation and growth of firms were considered as dependent variables, whereas business incubation and social capital were treated as independent variables. The researcher employed an e-mail survey among 137 tenant Firms (Firms that joined and/or graduated to/from the Business incubation centers available in Ethiopia) to collect the data and obtained 113 responses that were appropriate for this research. The result of this study reveals that the dimensions of business incubation (physical resource, business support, and networking) have a significant effect on the innovation of Firms, but these dimensions of business incubation do not show a significant effect on the growth of firms. On the other hand, the dimensions of social capital (structural, cognitive, and relational) show a significant positive impact on the likelihood of Firms' growth but not on the innovation of firms. Moreover, the result of this study indicates that the dimensions of business incubation and social capital together have a significant effect on the likelihood of tenant firms innovating and growing.

Keywords: business incubation, innovation, social capital, tenant firms

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