Search results for: established businesses

Authors: S. Thongchai

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Result of the study on knowledge management systems in businesses was shown that the most of these businesses provide internet accessibility for their employees in order to study new knowledge via internet, corporate website, electronic mail, and electronic learning system. These business organizations use information technology application for knowledge management because of convenience, time saving, ease of use, accuracy of information and knowledge usefulness. The result indicated prominent improvements for corporate knowledge management systems as the following; 1) administrations must support corporate knowledge management system 2) the goal of corporate knowledge management must be clear 3) corporate culture should facilitate the exchange and sharing of knowledge within the organization 4) cooperation of personnel of all levels must be obtained 5) information technology infrastructure must be provided 6) they must develop the system regularly and constantly.

Keywords: business organizations, information technology application, knowledge management systems, prominent improvements

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Authors: Eetedal Alanjem, Majedah Alnajem

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The importance of innovation in entrepreneurship can be seen in the invention of new ways to produce products or improved solutions. A service industry can expand with new or improved types of services to fulfill the ever changing needs of their clients. Manufacturers can come up with new products from raw materials and by-products. Innovation is vital for the durability of any business. Innovation usually begins with a need. Small businesses are generally directly involved in their communities and they know exactly what the communities need and strive to come up with solutions to fulfill those needs. They seize the opportunity to innovate to ease communal problems and make lives more comfortable. And then, these solutions keep getting better, easier and more useful as entrepreneurs and their small businesses come up with improved formulas and solutions. Keeping abreast with current trends and demands is an important factor for entrepreneurs to fuel their creativity and innovation. Manufacturers are constantly innovating to produce more without sacrificing quality. Small businesses should make innovation as a fundamental part of their organisational development since innovation creates business success. Entrepreneurs must not see just one solution to a need. They should come up with ideas for multiple solutions. It is imperative for small businesses to encourage growth of innovation among their employees. Competition is another factor that elevates the importance of innovation in entrepreneurship. It motivates entrepreneurs to come up with better, improved products and services than their competitors for a higher share of the market. In this paper will go in-depth for each factor and will discuss some of cases studies to know how innovation it’s important for entrepreneurs by facts & lessons?

Keywords: innovation, entrepreneurship, creativity, organisational development

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Authors: Aliyu Aminu Baba, Mustapha Makama

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Tertiary institutions are citadel of learning and societal orientation. Due to the huge investment of various government to tertiary institutions, these institutions are solely financed by the government alone. As stakeholders of society, corporations have to have to intervene and provide corporate social responsibility. The study intends to investigate the role of Entrepreneurs in incorporating social Responsibility. Tertiary institutions are citadel of learning and societal orientation. Due to the huge investment of various government to tertiary institutions, the study intends to investigate the role of businesses and Entrepreneurs, which could be among the important contributions of businesses and Entrepreneurs on corporate social Responsibility to Tertiary Institutions in Bauchi State. Corporate social responsibility is vital in enhancing the infrastructural development of the tertiary institution as almost all individuals and corporate bodies benefit from this tertiary institutions. The study intends to examine the impact of corporate social responsibility to tertiary institutions and entrepreneurs in Bauchi state Nigeria. Questionnaires would be distributed to tertiary institutions and entrepreneurs in the Bauchi metropolis. The data collected will be analyzed with the help of SPSS version 23. The main objective is to investigate the role of businesses and Entrepreneurs, which could be among the important contributions of businesses and entrepreneurs on corporate social Responsibility to Tertiary Institutions in Bauchi State.

Keywords: corporate social responsibility, tertiary, institutions, profitability

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Authors: Lemuel David

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This study aims to investigate The Impact of Tax Policies on Small Business Growth in Developing Countries: A Case Study of Montserrado Mount County, Republic of Liberia. Businesses in Liberia are crucial for job creation and the economic empowerment of its citizens, especially in Grand Cape Mount County where they provide 95% of all jobs and support local capital formation. However, many businesses face challenges that lead to premature closure, including tax-related issues such as multiple taxations and high tax burdens. This research aims to examine the effects of various taxation on business survival in Grand Cape Mount County. The study employed a survey research design with a population of 50 and a sample size of 74. Data was collected using a self-administered questionnaire and analyzed quantitatively with simple percentages, and the research hypotheses were tested with ANOVA. The study findings revealed that multiple taxations hurts business survival, and the relationship between business size and its ability to pay taxes is significant. Therefore, the study recommends that the government of Liberia should create uniform tax policies that support business development in Grand Cape Mount County, and consider the size of businesses when formulating tax policies.

Keywords: multiple taxations, businesses, mortality, growth

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Authors: Sibongile Masemola

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In 2018, South Africa decriminalised recreational cannabis use and private cultivation, since then, cannabis businesses have been established to meet the demand. However, marketing activities remain limited in this industry, and businesses are unable to disseminate promotional messages, however, as a solution, firms can promote their brands and positioning instead of the actual product (Bick, 2015). Branding is essential to create differences among cannabis firms and to attract and keep customers (Abrahamsson, 2014). Building cannabis firms into brands can better position them in the mind of the consumer so that they become and remain competitive. The aim of this study was to explore how South African cannabis retailers can build brand equity in a stigmatised market, despite significant restrictions on marketing efforts. Keller’s (2001) customer-based brand equity (CBBE) model was used as the as the theoretical framework and explored how cannabis firms build their businesses into brands through developing their brand identity, meaning, performance, and relationships, and ultimately creating brand equity. The study employed a qualitative research method, using semi-structured in-depth interviews among 17 participants to gain insights from cannabis owners and marketers in the recreational cannabis environment. Most findings were presented according to the blocks of CBBE model. Furthermore, a conceptual framework named the stigma-based brand equity (SBBE) model was adapted from Keller’s CBBE model to include an additional building block that accounts for industry-specific characteristics unique to stigmatised markets. Findings revealed the pervasiveness of education and its significance to brand building in a stigmatised industry. Results also demonstrated the overall effect stigma has on businesses and their consumers due to the longstanding negative evaluations of cannabis. Hence, through stigma-bonding, brands can develop deep identity-related psychological bonds with their consumers that will potentially lead to strong brand resonance. This study aims to contribute business-relevant knowledge for firms operating in core-stigmatised markets under controlled marketing regulations by exploring how cannabis firms can build brand equity. Practically, this study presents recommendations for retailers in stigmatised markets on how to destigmatise, build brand identity, create brand meaning, elicit desired brand responses, and develop brand relationships – ultimately building brand equity.

Keywords: branding, brand equity, cannabis, organisational stigma

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Authors: Wissal Ben Arfi, Jean-Michel Sahut

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The purpose of this paper is to provide a deeper understanding of the succession process from a knowledge management perspective. By doing that, succession process in family businesses, as an environment for creating and sharing knowledge, was explored. Design/Methodology/Approach: To support our reasoning, we collected qualitative data through 16 in-depth interviews conducted with all decision makers involved in the family businesses succession process in France. These open-ended responses were subsequently exposed to thematic discourse analysis. Findings: Central to this exhibit is the nature and magnitude of knowledge creation and sharing among the actors within the family succession context and how can tacit knowledge sharing facilitate the succession process. We also identified factors that inhibit down the knowledge creation and sharing processes. The sharing and creation of knowledge among members of a family business appear to be a complex process that must be part of a strategy for change. This implies that it requests trust and takes a certain amount of time because it requires organizational change and a clear and coherent strategic vision that is accepted and assimilated by all the members. Professional and leadership skills are of particular importance in knowledge sharing and creation processes. In most cases, tacit knowledge is crucial when it is shared and accumulated collectively. Our findings reveal that managers should find ways of implementing knowledge sharing and creation processes while acknowledging the succession process within family firms. This study highlights the importance of generating knowledge strategies in order to enhance the performance and the success of intergenerational succession. The empirical outcomes contribute to enrich the field of succession management process and enhance the role of knowledge in shaping family performance and longevity. To a large extent, the lessons learned from the study of succession processes in family-owned businesses are that when there is a deliberate effort to introduce a knowledge-based approach, this action becomes a seminal event in the life of the organization. Originality/Value: The paper contributes to the deep understanding of interactions among actors by examining the knowledge creation and sharing processes since current researches in family succession focused on aspects such as personal development of potential, intra-family succession intention, decision-making processes in family businesses. Besides, as succession is one of the key factors that determine the longevity and the performance of family businesses, it also contributes to literature by examining how tacit knowledge is transferred, shared and created in family businesses and how this can facilitate the intergenerational succession process.

Keywords: family-owned businesses, succession process, knowledge, performance

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Authors: Navarat Sachayansrisakul, Nattawat Ponnara

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Human beings are driving forces for any unit of societies, whether it would be in a family, communities, industries or even organizations. However, as our humanity progresses, the reliance has shifted from human to machineries and technologies. One main challenge when dealing with more than one person is conflict often resulted. If the conflict is properly managed, then economic development also follows. In order to achieve positive outcome of conflict, it is believed that the management comes from within individual entrepreneurs. As such, this is a unique study as it looks into the spiritual side of humans as business people and applies to the business environment with the focus on moral and ethical framework in order for sustainable development. This study aims to provide a model of how to positively manage conflict without compromising the ethical and moral standards of the businesses. Sustainability in this study is achieved through the Buddhists’ aim for liberation in which it works on the balanced approach to solving conflict. Buddhists’ livelihood is established on simplicity and non-violence while contributing not to only one’s self but those around them such as the stake holders of the businesses and the communities. According to Buddhist principles and some findings, a model called ‘The Bestination Conflict Management’ was developed. Bestination model offers an alternative approach for entrepreneurs to achieve sustainability along with intrinsic and extrinsic rewards that benefit the well-beings of the owners, the stakeholders and the communities involved. This research study identifies ‘Conflict Management’ model as having goodwill and wisdom as a base, then moral motivation as the next level up to have a disciplines in order to keep a unit well cooperated.

Keywords: sustainable, entrepreneurs, Buddhist, moral, ethics, conflict

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Authors: Tiffany Chuang

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The study of inequality in urban space has typically emphasized class and race as dimensions of stratification, but a small and growing body of work also pays attention to exclusionary processes based on moral grounds, as is the case with mainstream disapproval of sexually oriented businesses and red-light districts. However, many sexually-oriented businesses co-exist with similar non-sexually oriented businesses in the tourism and broader entertainment industries. Furthermore, regulators and tourism- and entertainment industries are acknowledged by regulators and ordinary citizens as important contributors to the economy, and in the case of aspiring global cities, to urban prestige. Under such circumstances, it is important to examine how policymakers, residents, and other stakeholders distinguish between sexually oriented and non-sexually oriented businesses, as well as how such efforts shape moral geographies in urban settings. To address this question, this paper introduces the concept of permeable industries to describe businesses that, by their very nature of providing adult entertainment along with a measure of privacy and discretion, facilitate easy interchange between their officially sanctioned purposes and illicit or stigmatised uses, most notably by the sex industry. The permeability and ambiguity surrounding the sexual- and non-sexual activities in such establishments is in fact, a source of tension that generates energetic boundary-drawing exercises that designate legitimate from illegitimate establishments. This paper draws on three years of ethnographic fieldwork, qualitative research, and archival research (1920—2020) on Joo Chiat, a neighborhood in the city-state of Singapore. It then analyzes how middle-class residents reacted to the sudden influx of sexually oriented businesses in the early 2000s, turning the once-quiet residential and commercial neighborhood into a semi-red-light district staffed by migrant Asian women. Ironically, the red-light district had been inadvertently precipitated by the state’s neoliberal policies in the 1990s to cultivate suburban neighborhoods as decentralized tourist attractions while loosening social regulations in pursuit of global city ambitions. Residents mobilized around the discourse of “sleaze”, using it to draw symbolic boundaries while advocating for regulatory boundaries between sexually oriented and non-sexually oriented businesses in the neighborhood. Since the concept of “sleaze” was informed by middle-class distaste for low-status sex work, the result of residents’ efforts was a state-endorsed moral geography that excluded sexually-oriented businesses while tolerating adult-oriented entertainment businesses that dovetailed with global city aspirations. This study contributes to the study of urban inequality by demonstrating the importance of boundary work in reproducing respectability politics, which in turn shapes the urban geographies of moral worth.

Keywords: moral geography, boundary work, respectability politics, entertainment businesses

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Authors: T. Mersmann, P. Nyhuis

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In the current economic climate, for many businesses it is generally no longer sufficient to pursue exclusively economic interests. Instead, integrating ecological and social goals into the corporate targets is becoming ever more important. However, the holistic integration of these new goals is missing from current factory planning approaches. This article describes the conceptual framework for a planning methodology for sustainable factories. To this end, the description of the key areas for action is followed by a description of the principal components for the systematization of sustainability for factories and their stakeholders. Finally, a conceptual framework is presented which integrates the components formulated into an established factory planning procedure.

Keywords: factory planning, stakeholder, systematization, sustainability

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Authors: Wisu Suntoyo, Dedy Sushandoyo

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Innovation and digital transformation are essential for firms’ competitiveness in the digital age. The competition in Indonesia’s banking industry provides an intriguing case study for understanding how digital transformation can generate innovation in established companies. The empirical evidence of this study is mainly based on interviews and annual reports examining four established banks in their various states of digital transformation. The findings of this study reveal that banks’ digital transformations that lead to innovations differ in terms of the activities undertaken and the outcomes achieved depending on the state of advancement in which they are. Digital transformation is a complex and challenging process, and this study finds that with this strategy, established banks have shown capable of generating innovation. Banks can choose types of transformation activities that generate radical, architectural, modular, or even incremental innovations.

Keywords: digital transformation, innovations, banking industry, established banks

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Authors: Joanna Konstantinou

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The study is about the challenges faced by entrepreneurs in a crisis context and in turbulent economies. The scope is to determine which factors, if any, are related to the success of a new business venture, such as innovation, access to funding and capital, enhanced digital skills, employment relations and organizational culture as well as a company’s strategic orientation towards international markets. The crisis context has been recorded to have affected the number of SMEs in the Greek economy, the number of people employed as well as the volume of the output produced. Although not all SMEs have been equally impacted by the crisis, which has been identified to affect certain sectors more than others, and although research is not exhaustive in that end, employment relations and patterns, firm’s age, and innovation practices in relation to employees’ learning curve seem to have a positive correlation with the successful survival and resilience of the firm. The aim is to identify important factors that can contribute positively to the success of a startup business, and that will allow businesses to acquire resilience and survive economic adversities, and it will focus on businesses of the Greek economy, the country with the longer lasting economic crisis and the findings will be lessons to learn for other economies.

Keywords: entrepreneurship, innovation, crisis, challenges

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Authors: Ahmet Akdemir, Güzide Karakuş, Leyla Polat

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Aviation that has been arisen in accordance with flying request that is existing inside of people, has not only made life easier by making a great contribution to humanity; it has also accelerated globalization by reducing distances between countries. It is seen that the growth rate of aviation industry has reached the undreamed level when it is looked back on. Today, the last point in aviation is unmanned aerial vehicles that are self-ventilating and move in desired coordinates without any onboard pilot. For those vehicles, there are two different control systems are developed. In the first type of control, an unmanned aerial vehicle (UAV) moves according to instructions of a remote control. UAV that moves with a remote control is named as drone; it can be used personally. In the second one, there is a flight plan that is programmed and placed inside of UAV before flight. Recently, drones have started to be used in unimagined areas and utilize specific, important benefits for any industry. Within this framework, this study answers the question that is drone usage would be beneficial for businesses or not. To answer this question, applied basic methodologies are determining businesses using drone in the world, their purposes to use drone, and then, comparing their economy as before drone and after drone. In the end of this study, it is seen that many companies in different business areas use drone in logistics support, and it makes their work easier than before. This paper has contributed to academic literature about this subject, and it has introduced the benefits of drone usage for businesses. In addition, it has encouraged businesses that they keep pace with this technological age by following the developments about drones.

Keywords: aviation, drone, drone in business, unmanned aerial vehicle

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Authors: V. Suganya, V. Balasuriya

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The functioning of Micro and Small Scale (MSS) businesses in the northern part of Sri Lanka was vulnerable due to three decades of internal conflict and the subsequent post-war economic openings has resulted new market prospects for MSS businesses. MSS businesses survive and operate with limited resources and struggle to access finance, raw material, markets, and technology. This study attempts to identify the manner in which entrepreneurial orientation puts into practice by the business operators to overcome these business challenges. Business operators in the traditional food processing sector are taken for this study as this sub-sector of the food industry is developing at a rapid pace. A review of the literature was done to recognize the concepts of entrepreneurial orientation, defining MMS businesses and the manner in which business performance is measured. Direct interview method supported by a structured questionnaire is used to collect data from 80 respondents; based on a fixed interval random sampling technique. This study reveals that more than half of the business operators have opted to commence their business ventures as a result of identifying a market opportunity. 41 per cent of the business operators are highly entrepreneurial oriented in a scale of 1 to 5. Entrepreneurial orientation shows significant relationship and strongly correlated with business performance. Pro-activeness, innovativeness and competitive aggressiveness shows a significant relationship with business performance while risk taking is negative and autonomy is not significantly related to business performance. It is evident that entrepreneurial oriented business practices contribute to better business performance even though 70 per cent prefer the ideas/views of the support agencies than the stakeholders when making business decisions. It is recommended that appropriate training should be introduced to develop entrepreneurial skills focusing to improve business networks so that new business opportunities and innovative business practices are identified.

Keywords: Micro and Small Scale (MMS) businesses, entrepreneurial orientation (EO), food processing, business operators

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Authors: Farzaneh Noori

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Entrepreneurs face different sort of difficulties especially with customers, organizations and employees. Emotional intelligence which is the ability to understand and control the emotions is an important factor to help entrepreneurs end up challenges to the result they prefer. Thus, it is assumed that entrepreneurs especially those who have passed the first challenging years of starting a new business, have high emotional intelligence. In this study the Iranian established entrepreneurs have been surveyed. According to Iran Gem 2014 report the percentage of established entrepreneur in Iran is 10.92%. So by using Cochran sample formula (1%) 96 Iranian established entrepreneurs have been selected and Emotional intelligence appraisal questionnaire distributed to them. The SPSS19 result shows high emotional intelligence in Iranian established entrepreneurs.

Keywords: emotional intelligence, emotional intelligence appraisal questionnaire, entrepreneurs, Iran

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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: Morfaw Bernice Njinju

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The contribution of exporting and small businesses to an economy cannot be overemphasized. However, small firms in developing economies are characterized by resource deficiencies, which hinders their exporting abilities. As a result, export promotion programs are designed by the government as external resources that small firms can access to overcome export barriers and improve their exporting. Nevertheless, doubts still exist as to whether firms are aware of these programs and the extent to which they are utilizing it. To analyse the level of awareness and usage of these programs, the questionnaire was developed from the review of the literature. A pilot study was conducted to determine the ease of completing the questionnaire by respondent before incorporating feedback to produce the final questionnaire. Data were collected from 200 small businesses in Cameroon in the manufacturing and agricultural sector through random sampling and analysed using regression analysis. The results indicated that different programs had different levels of awareness than others. Programs to provide training to improve product quality was found to have the highest level of awareness while those providing findings had low levels of awareness. Despite these different levels of awareness, usage was very low, as firms do not want to open up to government scrutiny of their business. Implications to policy, practice, and direction for further research are also discussed.

Keywords: export promotion programs, exporting, small businesses, Cameroon

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Authors: Madad Ali

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In the contemporary landscape of international travel, the infusion of digital technologies has given rise to innovative business models that are reshaping the dynamics of tourism. This research delves into the transformative potential of these novel business models within the realm of digital tourism and their multifaceted impact on local businesses, residents' quality of life, and the overall travel experience. The study focuses on the captivating backdrop of Yunnan Province, China, renowned for its rich cultural heritage and diverse ethnic minorities, to uncover the intricate nuances of this phenomenon. The primary objectives of this research encompass the identification and categorization of emerging business models facilitated by digital technologies, their implications on tourist engagement, and their integration into the operations of local businesses. By employing a mixed-methods approach, blending qualitative techniques like interviews and content analysis with quantitative tools such as surveys and data analysis, the study provides a comprehensive evaluation of these business models' effects on various dimensions of the tourism landscape. The distinctiveness of this research lies in its exclusive focus on Yunnan Province, China. By concentrating on Yunnan Province, the research contributes exceptional insights into the interplay between digital tourism, ethnic diversity, cultural heritage, and sustainable development. The study's outcomes hold significance for both scholarly discourse and the stakeholders involved in shaping the region's tourism strategies.

Keywords: business model, digital tourism, international travel, local businesses, quality of life

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Authors: Ranjith Ihalanayake, Lalith Seelanatha, John Breen

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In this study, we explored the current working capital management practices as applied in small businesses in Victoria, filling an existing theoretical and empirical gap in literature in general and in Australia in particular. Amidst the current global competitive and dynamic environment, the short term insolvency of small businesses is very critical for the long run survival. A firm’s short-term insolvency is dependent on the availability of sufficient working capital for feeding day to day operational activities. Therefore, given the reliance for short-term funding by small businesses, it has been recognized that the efficient management of working capital is crucial in respect of the prosperity and survival of such firms. Against this background, this research was an attempt to understand the current working capital management strategies and practices used by the small scale businesses. To this end, we conducted an internet survey among 220 small businesses operating in Victoria, Australia. The survey results suggest that the majority of respondents are owner-manager (73%) and male (68%). Respondents participated in this survey mostly have a degree (46%). About a half of respondents are more than 50 years old. Most of respondents (64%) have business management experience more than ten years. Similarly, majority of them (63%) had experience in the area of their current business. Types of business of the respondents are: Private limited company (41%), sole proprietorship (37%), and partnership (15%). In addition, majority of the firms are service companies (63%), followed by retailed companies (25%), and manufacturing (17%). Size of companies of this survey varies, 32% of them have annual sales $100,000 or under, while 22% of them have revenue more than $1,000,000 every year. In regards to the total assets, majority of respondents (43%) have total assets $100,000 or less while 20% of respondents have total assets more than $1,000,000. In regards to WCMPs, results indicate that almost 70% of respondents mentioned that they are responsible for managing their business working capital. The survey shows that majority of respondents (65.5%) use their business experience to identify the level of investment in working capital, compared to 22% of respondents who seek advice from professionals. The other 10% of respondents, however, follow industry practice to identify the level of working capital. The survey also shows that more than a half of respondents maintain good liquidity financial position for their business by having accounts payable less than accounts receivable. This study finds that majority of small business companies in western area of Victoria have a WCM policy but only about 8 % of them have a formal policy. Majority of the businesses (52.7%) have an informal policy while 39.5% have no policy. Of those who have a policy, 44% described their working capital management policies as a compromise policy while 35% described their policy as a conservative policy. Only 6% of respondents apply aggressive policy. Overall the results indicate that the small businesses pay less attention into the management of working capital of their business despite its significance in the successful operation of the business. This approach may be adopted during favourable economic times. However, during relatively turbulent economic conditions, such an approach could lead to greater financial difficulties i.e. short-term financial insolvency.

Keywords: small business, working capital management, Australia, sufficient, financial insolvency

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Authors: C. Li, G. Coates, N. Johnson, M. Mc Guinness

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In the UK, flooding is responsible for significant losses to the economy due to the impact on businesses, the vast majority of which are Small and Medium Enterprises (SMEs). Businesses of this nature tend to lack formal plans to aid their response to and recovery from disruptive events such as flooding. This paper reports on work on how an agent-based model (ABM) is being developed based on interview data gathered from SMEs at-risk of flooding and/or have direct experience of flooding. The ABM will enable simulations to be performed allowing investigations of different response strategies which SMEs may employ to lessen the impact of flooding, thus strengthening their resilience.

Keywords: ABM, flood response, SMEs, business continuity

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Authors: V. A. Ritchie

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The loss of life and livelihood experienced after the magnitude 9.3 Sumatra earthquake and tsunami on 26 December 2004 and magnitude 9 earthquake and tsunami in northeastern Japan on 11 March 2011, has raised global awareness and brought tsunami phenomenology, nomenclature, and representation into sharp focus. At the same time, travel and tourism continue to increase, contributing around 1 in 11 jobs worldwide. This increase in tourism is especially true for coastal zones, placing pressure on decision-makers to downplay tsunami risks and at the same time provide adequate tsunami warning so that holidaymakers will feel confident enough to visit places of high tsunami risk. This study investigates how well tsunami preparedness messages are getting through for tourist-based businesses in Hawke’s Bay New Zealand, a region of frequent seismic activity and a high probability of experiencing a nearshore tsunami. The aim of this study is to investigate whether tourists based businesses are well informed about tsunamis, how well they understand that information and to what extent their clients are included in awareness raising and evacuation processes. In high-risk tsunami zones, such as Hawke’s Bay, tourism based businesses face competitive tension between short term business profitability and longer term reputational issues related to preventable loss of life from natural hazards, such as tsunamis. This study will address ways to accommodate culturally and linguistically relevant tourist awareness measures without discouraging tourists or being too costly to implement.

Keywords: tsunami risk and response, travel and tourism, business preparedness, cross cultural knowledge transfer

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Authors: Mohammad Mehdizadeh, Sara Miri

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In today's world, competition is one of the essential components of different markets. Therefore, in addition to economic factors, social factors can also affect the development and prosperity of businesses. In this regard, social networks are of particular importance and play a critical role in the flourishing and development of Internet businesses. The purpose of this article is to investigate the effect of different social networks in promoting digital entrepreneurship. The research method is the descriptive survey. The results show that social networks have a positive and significant impact on digital entrepreneurship development. Among the social networks studied, Instagram and Facebook have the most positive effect on digital entrepreneurship.

Keywords: entrepreneurship, Facebook, Instagram, social media

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Authors: Maria Granados

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Information technology (IT) facilitates the management of knowledge in organisations through the effective leverage of collective experience and knowledge of employees. This supports information processing needs, as well as enables and facilitates sense-making activities of knowledge workers. The study of IT support for knowledge management (KM) has been carried out mainly in larger organisations where resources and competitive conditions can trigger the use of KM. However, there is still a lack of understanding on how IT can support the management of knowledge under different organisational settings influenced by: constant tensions between social and economic objectives, more focus on sustainability than competiveness, limited resources, and high levels of democratic participation and intrinsic motivations among employees. All these conditions are presented in Social Enterprises (SEs), which are normally micro and small businesses that trade to tackle social problems, improve communities, people’s life chances, and the environment. Thus, their importance to society and economies is increasing. However, there is still a need for more understanding of how these organisations operate, perform, innovate and scale-up. This knowledge is crucial to design and provide accurate strategies to enhance the sector and increase its impact and coverage. To obtain a conceptual and empirical understanding of how IT can facilitate KM in the particular organisational conditions of SEs, a quantitative study was conducted with 432 owners and senior members of SEs in UK, underpinned by 21 interviews. The findings demonstrated how IT was supporting more the recovery and storage of necessary information in SEs, and less the collaborative work and communication among enterprise members. However, it was established that SEs were using cloud solutions, web 2.0 tools, Skype and centralised shared servers to manage informally their knowledge. The possible impediments for SEs to support themselves more on IT solutions can be linked mainly to economic and human constraints. These findings elucidate new perspectives that can contribute not only to SEs and SE supporters, but also to other businesses.

Keywords: social enterprises, knowledge management, information technology, collaboration, small firms

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Authors: Nalanda Matia, Julia Zhao, Amber Jaycocks, Divya Sinha

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Social assistance programs for businesses are intended to improve their survival and growth in the face of catastrophic events like the COVID-19 pandemic. However, that goal remains unfulfilled when the mostwantingbusinesses fail to participate in such programs. Reasons for non-participation can include lack of information, inability to cope with applications and program compliance, as well as some programs’ non-entitlement status. Some of these factors may be associated with the organizational and locational characteristics of these businesses. This research investigates these organizational and locational factorsthat determine receipt and effectiveness of social assistance among the firms that receive it. of A sample of firms from the universe of 3 rounds of Small Business Administration backed Paycheck Protection Program recipient and similarly profiled non recipient businesses are used to analyze this question. Initial results show firm organizational factors like size and spatial factors like broadband coverage at firm location impact application for and subsequent receipt of assistance for digitally administered programs. Further, Line of business and wage structure of recipients’ impact effectiveness of the assistance dollars.

Keywords: public economics, economics of social assistance, firm organizational structure, survival analysis

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Authors: Asim Majeed, Anwar Ul Haq, Ayesha Asim, Mike Lloyd-Williams, Arshad Jamal, Usman Butt

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This study aims to investigate the impact of data leak of M&S customers on digital communities. Modern businesses are using digital communities as an important public relations tool for marketing purposes. This form of communication helps companies to build better relationship with their customers which also act as another source of information. The communication between the customers and the organizations is not regulated so users may post positive and negative comments. There are new platforms being developed on a daily basis and it is very crucial for the businesses to not only get themselves familiar with those but also know how to reach their existing and perspective consumers. The driving force of marketing and communication in modern businesses is the digital communities and these are continuously increasing and developing. This phenomenon is changing the way marketing is conducted. The current research has discussed the implications on M&S business performance since the data was exploited on digital communities; users contacted M&S and raised the security concerns. M&S closed down its website for few hours to try to resolve the issue. The next day M&S made a public apology about this incidence. This information was proliferated on various digital communities and it has impacted negatively on M&S brand name, sales and customers. The content analysis approach is being used to collect qualitative data from 100 digital bloggers including social media communities such as Facebook and Twitter. The results and finding provide useful new insights into the nature and form of security concerns of digital users. Findings have theoretical and practical implications. This research will showcase a large corporation utilizing various digital community platforms and can serve as a model for future organizations.

Keywords: Digital, communities, performance, dissemination, implications, data, exploitation

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Authors: Tuji Jemal Ahmed

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Food quality and safety challenges are prevalent in Ethiopia's food processing industry, which can have adverse effects on consumers' health and wellbeing. The country is known for its diverse range of agricultural products, which are essential to its economy. However, poor food quality and safety policies and management systems in the food processing industry have led to several health problems, foodborne illnesses, and economic losses. This paper aims to highlight the causes and effects of food safety and quality issues in the food processing industry of Ethiopia and discuss potential solutions to address these issues. One of the main causes of poor food quality and safety in Ethiopia's food processing industry is the lack of adequate regulations and enforcement mechanisms. The absence of comprehensive food safety and quality policies and guidelines has led to substandard practices in the food manufacturing process. Moreover, the lack of monitoring and enforcement of existing regulations has created a conducive environment for unscrupulous businesses to engage in unsafe practices that endanger the public's health. The effects of poor food quality and safety are significant, ranging from the loss of human lives, increased healthcare costs, and loss of consumer confidence in the food processing industry. Foodborne illnesses, such as diarrhea, typhoid fever, and cholera, are prevalent in Ethiopia, and poor food quality and safety practices contribute significantly to their prevalence. Additionally, food recalls due to contamination or mislabeling often result in significant economic losses for businesses in the food processing industry. To address these challenges, the Ethiopian government has begun to take steps to improve food quality and safety in the food processing industry. One of the most notable initiatives is the Ethiopian Food and Drug Administration (EFDA), which was established in 2010 to regulate and monitor the quality and safety of food and drug products in the country. The EFDA has implemented several measures to enhance food safety, such as conducting routine inspections, monitoring the importation of food products, and enforcing strict labeling requirements. Another potential solution to improve food quality and safety in Ethiopia's food processing industry is the implementation of food safety management systems (FSMS). An FSMS is a set of procedures and policies designed to identify, assess, and control food safety hazards throughout the food manufacturing process. Implementing an FSMS can help businesses in the food processing industry identify and address potential hazards before they cause harm to consumers. Additionally, the implementation of an FSMS can help businesses comply with existing food safety regulations and guidelines. In conclusion, improving food quality and safety policies and management systems in Ethiopia's food processing industry is critical to protecting public health and enhancing the country's economy. Addressing the root causes of poor food quality and safety and implementing effective solutions, such as the establishment of regulatory agencies and the implementation of food safety management systems, can help to improve the overall safety and quality of the country's food supply.

Keywords: food quality, food safety, policy, management system, food processing industry

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Authors: Lynn Ruggieri

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The worldwide pandemic has only increased sustainability awareness. The public is demanding that businesses be held accountable for their impact on the environment. While financial data enjoys uniformity in reporting requirements, there are no uniform reporting requirements for non-financial data. Europe is leading the way with some standards being implemented for reporting non-financial sustainability data; however, there is no uniformity globally. And without uniformity, there is not a clear understanding of what information to include and how to disclose it. Sustainability reporting will provide important information to stakeholders and will enable businesses to understand their impact on the environment. Therefore, there is a crucial need for this data. This paper looks at the history of sustainability reporting in the countries of the European Union and throughout the world and makes a case for worldwide reporting requirements for sustainability.

Keywords: financial reporting, non-financial data, sustainability, global financial reporting

Procedia PDF Downloads 143

Authors: Farida, M. Shehu, Shehu U. R. Aliyu

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Access to finance has been recognized in the literature as one of the major impediments confronting small scale businesses (SSBs). This largely arises due to high lending rate, religious inclinations, collateral, etc. Islamic mode finance operates under Profit and Loss Sharing (PLS) arrangement between a borrower (business owner) and a lender (Islamic bank). This paper empirically assesses the determinants of predisposition of small scale business operators in Fagge local government area, Kano State, Nigeria, towards the PLS. Cross-sectional data from a sample of 291 small scale business operators was analyzed using logit and probit regression models. Empirical results reveal that while awareness and religion inclination positively drive interest towards the PLS, lending rate and collateral work against it. The paper, therefore, strongly recommends more advocacy campaigns and setting up of more Islamic banks in the country to cater for the financing and religious needs of SSBs in the study area.

Keywords: Islamic finance, logit and probit models, profit and loss sharing small scale businesses, finance, commerce

Procedia PDF Downloads 346

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

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Entrepreneurship is an important topic today that is widely discussed in the business world. The COVID-19 pandemic has devastated all businesses in the world, especially businesses at the micro-level. This study tries to prove the relationship between job satisfaction of micro-level business owners and family social support for their resilience. The respondents of this study amounted to 58 entrepreneurs. The results of this study indicate that there is a relationship between job satisfaction and social support with entrepreneurial resilience in continuing the family business.

Keywords: family business, family social support, job satisfaction, resilience

Procedia PDF Downloads 69

Authors: Luisa Kynast

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It is obvious that buildings and infrastructure are highly impacted by climate change (CC). Both, design and material of buildings need to be resilient to weather events in order to shelter humans, animals, or goods. As well as buildings and infrastructure are exposed to weather events, the construction process itself is generally carried out outdoors without being protected from extreme temperatures, heavy rain, or storms. The production process is restricted by technical limitations for processing materials with machines and physical limitations due to human beings (“outdoor-worker”). In future due to CC, average weather patterns are expected to change as well as extreme weather events are expected to occur more frequently and more intense and therefore have a greater impact on production processes and on the construction businesses itself. This research aims to examine this impact by analyzing an association between responses to CC and financial performance of businesses within the construction industry. After having embedded the above depicted field of research into the resource dependency theory, a literature review was conducted to expound the state of research concerning a contingent relation between climate change adaptation measures (CCAM) and corporate financial performance for construction businesses. The examined studies prove that this field is rarely investigated, especially for construction businesses. Therefore, reports of the Carbon Disclosure Project (CDP) were analyzed by applying content analysis using the software tool MAXQDA. 58 construction companies – located worldwide – could be examined. To proceed even more systematically a coding scheme analogous to findings in literature was adopted. Out of qualitative analysis, data was quantified and a regression analysis containing corporate financial data was conducted. The results gained stress adaptation measures as a response to CC as a crucial proxy to handle climate change impacts (CCI) by mitigating risks and exploiting opportunities. In CDP reports the majority of answers stated increasing costs/expenses as a result of implemented measures. A link to sales/revenue was rarely drawn. Though, CCAM were connected to increasing sales/revenues. Nevertheless, this presumption is supported by the results of the regression analysis where a positive effect of implemented CCAM on construction businesses´ financial performance in the short-run was ascertained. These findings do refer to appropriate responses in terms of the implemented number of CCAM. Anyhow, still businesses show a reluctant attitude for implementing CCAM, which was confirmed by findings in literature as well as by findings in CDP reports. Businesses mainly associate CCAM with costs and expenses rather than with an effect on their corporate financial performance. Mostly companies underrate the effect of CCI and overrate the costs and expenditures for the implementation of CCAM and completely neglect the pay-off. Therefore, this research shall create a basis for bringing CC to the (financial) attention of corporate decision-makers, especially within the construction industry.

Keywords: climate change adaptation measures, construction businesses, financial implication, resource dependency theory

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Authors: nafees mahbub, blake tindol, utkarsh shrivastava, kuanchin chen

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Online shopping has become an integral part of businesses today. Big players such as Amazon are setting the bar for delivery services, and many businesses are working towards meeting them. However, what happens if a seller underestimates or overestimates the delivery time? Does it translate to consumer comments, ratings, or lost sales? Although several prior studies have investigated the impact of poor logistics on customer satisfaction, that impact of under estimation of delivery times has been rarely considered. The study uses real-time customer online purchase data to study the impact of missed delivery times on satisfaction.

Keywords: LOST SALES, DELIVERY TIME, CUSTOMER SATISFACTION, CUSTOMER REVIEWS

Procedia PDF Downloads 175