Search results for: family-owned businesses

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: Vildan Kistik, Tuncay Can

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From a business perspective, cost and profit are two key factors for businesses. The intent of most businesses is to minimize the cost to maximize or equalize the profit, so as to provide the greatest benefit to itself. However, the physical system is very complicated because of technological constructions, rapid increase of competitive environments and similar factors. In such a system it is not easy to maximize profits or to minimize costs. Businesses must decide on the competence and competence of the personnel to be recruited, taking into consideration many criteria in selecting personnel. There are many criteria to determine the competence and competence of a staff member. Factors such as the level of education, experience, psychological and sociological position, and human relationships that exist in the field are just some of the important factors in selecting a staff for a firm. Personnel selection is a very important and costly process in terms of businesses in today's competitive market. Although there are many mathematical methods developed for the selection of personnel, unfortunately the use of these mathematical methods is rarely encountered in real life. In this study, unlike other methods, an exponential programming model was established based on the possibilities of failing in case the selected personnel was started to work. With the necessary transformations, the problem has been transformed into unconstrained Geometrical Programming problem and personnel selection problem is approached with geometric programming technique. Personnel selection scenarios for a classroom were established with the help of normal distribution and optimum solutions were obtained. In the most appropriate solutions, the personnel selection process for the classroom has been achieved with minimum cost.

Keywords: geometric programming, personnel selection, non-linear programming, operations research

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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: Nasir Khalid

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In Malaysia, higher education is big business. There are many companies that are willing if not already to invest heavily in higher education for students that aspire to pursue their degree in diploma, undergraduate as well as graduate studies. These companies sometimes even have a joint venture twinning program with other already established universities in and across Europe, Australia, the United States, and Canada. Some of these investments have been successful whereas others find themselves limited by the obstacle of receiving new students. Recently, the Malaysian Ministry of Higher Education has stopped issuing licenses to set up private institutions of higher education. This paper will thus examine the factors affecting the success of private higher education businesses in Malaysia. The samples will consist of thirty private institutions [N=30]. Among the factors that will be mentioned in the literature are academic programs, student quality and achievement, student employability, alumni satisfaction, student enrolment, institutional environment, lecturer-quality and effectiveness of supporting staff. A questionnaire was developed and analyzed using statistical analysis. The result of this study found that the top three factors affecting the success of private higher education businesses in Malaysia are student enrolment, institutional environment and the academic programs offered.

Keywords: higher education business, successful business factors, private institutions, business in Malaysia

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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: 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

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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

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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

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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

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Authors: Jarrod Haar, David Brougham, Azka Ghafoor

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Māori are the indigenous people of Aotearoa (New Zealand) and have a unique perspective called Te Ao Māori (the Māori worldview) and important cultural values around utu (reciprocation), collectivism, long-term orientation, and whanaungatanga (networking, relationships). The present research conducts two studies to better understand how Māori businesses might have similarities and differences to New Zealand businesses. In study 1, we conducted 50 interviews with 25 Māori business owners and 25 New Zealand (non-Māori) owners. For the indigenous population, we used a kaupapa Māori research approach using Māori protocols. This ensured the research is culturally safe. Interviews were conducted around semi-structured questions tapping into the existing business challenges, the role of innovation, and business values and approaches. Transcripts were analyzed using interpretative phenomenological analytic techniques. We identified several themes shared across all business owners: (1) the critical challenge around staff attraction and retention; (2) cost pressures including inflation; (3) and a focus on human resource (HR) practices to address issues including retention. Amongst the Māori businesses, the analysis also identified (4) a unique cultural approach to business relationships. Specifically, amongst the indigenous businesses we find a strong Te Ao Māori perspective amongst Māori business towards innovation. Analysis within this group only identified, within the following sub-themes: (a) whanaungatanga, around the development of strong relationships as a way to aid recruitment and retention, and business fluctuations; (b) mātauranga (knowledge) whereby Māori businesses seek to access advanced knowledge via universities; (c) taking a long-term orientation to business relationships – including with universities. The findings suggest people practices might be a way that firms address workforce retention issues, and we also acknowledge that Māori businesses might also leverage cultural practices to achieve better gains. Thus, in study 2, we survey 606 New Zealand private sector firms including 85 who self-identify as Māori Firms. We test the benefits of high-performance work-systems (HPWS), which represent bundle of human-resource practices designed to bolster workforce productivity through enhancing knowledge, skills, abilities, and commitment of the workforce. We test these on workforce retention and include Māori firm status and cultural capital (reflecting workforce knowledge around Māori cultural values) as moderators. Overall, we find all firms achieve superior workforce retention when they have high levels of HPWS, but Māori firms with high cultural capital are better able to leverage these HR practices to achieve superior workforce retention. In summary, the present study highlights how indigenous businesses in New Zealand might achieve superior performance by leveraging their unique cultural values. The study provides unique insights into established literatures around retention and HR practices and highlights the lessons around indigenous cultural values that appear to aid businesses.

Keywords: Māori business, cultural values, employee retention, human resource practices

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Authors: Soheila Raeisi, Meng Lingjie

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The interaction of customers with businesses is a process that is critical to the running of those businesses. Different levels of customer engagement and service innovation exist when pursuing value co-creation endeavors. The important thing in this whole process is for business managers know the benefits that can be realized when these activities are pursued effectively. The purpose of this paper is to first identify the importance of value co-creation when pursued via customer engagement and service innovation. Secondly, it will also identify the conditions under which value co-destruction can occur on the same. The background of the topic will be reviewed followed by the literature review with a special focus on the definition of these terms and the research design to be used. The research found that it is beneficial to have a strong relationship between stakeholders and the business in order to have strong customer engagement and service innovation.

Keywords: customer engagement, service innovation, value co-creation, value co-destruction

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Authors: Nuwan Kuruwitaarachchi, M. K. M. Peiris, C. N. Madawala, K. M. A. R. Perera, V. U. N Perera

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Dealing with businesses with the foreign market always took a special place in a country’s economy. Political and social factors came into play making currency rate changes fluctuate rapidly. Currency rate prediction has become an important factor for larger international businesses since large amounts of money exchanged between countries. This research focuses on comparing the accuracy of mainly three models; Autoregressive Integrated Moving Average (ARIMA), Artificial Neural Networks(ANN) and Support Vector Machines(SVM). series of data import, export, USD currency exchange rate respect to LKR has been selected for training using above mentioned algorithms. After training the data set and comparing each algorithm, it was able to see that prediction in SVM performed better than other models. It was improved more by combining SVM and SVR models together.

Keywords: ARIMA, ANN, FFNN, RMSE, SVM, SVR

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Authors: Eno Jah Tabogo

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The aim of this research is to identify and examine current deficiencies in entrepreneurial training in improving the performance of small businesses in sub Saharan Africa economies. This research achieves this by examining the course content, training methods, and profiles of trainers and trainees of small business service providers in Sub Saharan Africa (SSA) to identify training deficiencies in improving small businesses. Data was for the analysis was collected from a sample of four entrepreneurial training providers in SSA. These four providers served an average of 1,500 trainees. Questionnaire was used to collect data via face to face and through telephone. Face validity was determined by distributing the questionnaire among a group of colleagues, followed by a group discussion to strengthen the validity of the questionnaire. Interviews were also held with managers of training programs. Content and descriptive statistics was used to analyse the data collected. The results indicated only 25% of the training content were entrepreneurial. In terms of service provided, both business, entrepreneurial, technical and after-care services were identified. It was also discovered that owners of training firms had no formal entrepreneurship background. The paper contributes by advocating for a comprehensive entrepreneurship-training program for successful small business enterprises. Recommendations that could help sustain emerging small business enterprises and direction for further research are presented.

Keywords: entrepreneurship, emerging markets, small business, training

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Authors: Jamila Mohammed Makarfi, Yontem Sonmez

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Developing countries like Nigeria have recently been affected by conflicts characterized by violence, high levels of risk and insecurity, resulting in loss of lives, livelihoods, displacement of communities, degradation of health, educational and social infrastructure as well as economic underdevelopment. The Nigerian government’s response to most of these conflicts has mainly been reactionary in the form of military deployments, as against precautionary to prevent or address the root causes of the conflicts. Several studies have shown that at various points of a conflict, conflict regions can benefit from the resources and expertise available outside the government, mainly from the private sector through mechanisms such as corporate social responsibility (CSR) by businesses. The main aim of this study is to examine the role of businesses in peacebuilding in Northern Nigeria through CSR in the last decade. The expected contributions from this will answer research questions, such as the key business motivations to engage in peacebuilding, as well as the degree of influence exerted from various stakeholder groups on the business decision to engage. The methodology of the study adopts a multiple case study of over 120 businesses of various sizes, ranging from small, medium and large-scale. A mixed method enabled the collection of quantitative and qualitative primary data to augment the secondary data. The results indicated that the most important business motivations to engage in peacebuilding were the negative effects of the conflict on economic stability, as well as stakeholder-driven motives. On the other hand, out of the 12 identified stakeholders, micro-, small- and medium-scale enterprises (MSMEs) considered the chief executive officer’s interest to be the most important factor, while large companies rated the government and community pressure as the highest. Overall, the foreign stakeholders scored low on the influence chart for all business types.

Keywords: conflict, corporate social responsibility, peacebuilding, stakeholder

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Authors: Mercy E. Makpor

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Traditional Corporate Social Responsibility (CSR) idea has gone beyond just ensuring safety environments, caring about global warming and ensuring good living standards and conditions for the society at large. The paradigm shift is towards a focus on strategic objectives and the long-term value creation for both businesses and the society at large for a realistic future. As an important approach to solving social and environment issues, CSR has been accepted globally. Yet the approach is expected to go beyond where it is currently. So much is expected from businesses and governments at every level globally and locally. This then leads to the original idea of the concept, that is, how it originated and how it has been perceived over the years. Little wonder there has been a lot of definitions surrounding the concept without a major globally acceptable definition of it. The definition of CSR given by the European Commission will be considered for the purpose of this paper. Sustainable Development (SD), on the other hand, has been viewed in recent years as an ethical concept explained in the UN-Report termed “Our Common Future,” which can also be referred to as the Brundtland report. The report summarises the need for SD to take place in the present without comprising the future. However, the recent 21st-century framework on sustainability known as the “Triple Bottom Line (TBL)” framework, has added its voice to the concepts of CSR and sustainable development. The TBL model is of the opinion that businesses should not only report on their financial performance but also on their social and environmental performances, highlighting that CSR has gone beyond just the “material-impact” approach towards a “Future-Oriented” approach (sustainability). In this paper, the concept of CSR is revisited by exploring the various theories therein. The discourse on the concepts of sustainable development and sustainable development frameworks will also be indicated, thereby inducing these into how CSR can benefit both businesses and their stakeholders as well as the entirety of the society, not just for the present but for the future. It does this by exploring the importance of both concepts (CSR and SD) and concludes by making recommendations for a more empirical research in the near future.

Keywords: corporate social responsibility, sustainable development, sustainability, triple bottom line model

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Authors: Yeganeh Mousavi Jahromi, Sahar Dehghan

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In Direct Tax Act, penalties and incentives are two strategies for realization of the expected tax revenues. In this study, the interaction between individual businesses' taxpayers' behaviors and National Tax Administration is investigated by using prospect theory which is based on behavioral economics approach. For this purpose, the structure of the tax compliance of the mentioned taxpayers is evaluated via the changes in penalty and incentive rates. In this way, a special questionnaire regarding the items of individual businesses sector of Direct Tax Act was designed for tax compliance evaluation, and the results were obtained using Bayesian Hierarchical method. The results indicate that the investigated individual business taxpayers, at all income levels, were more sensitive toward incentive rates so that this result can be useful for tax policymakers.

Keywords: behavioral economics, prospect theory, tax compliance, penalties, incentives

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Authors: Salman Abdulrasaq

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

Keywords: entrepreneurship, growth, development, Nigeria

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Authors: Jagannath Mohanty, Shiv Nath Sinha

Abstract:

India is the first country in the world, where spending on Corporate Social Responsibily (CSR) has been made mandatory. Predominantly Indian enterprises have been philanthrophic for hundreds of years, where giving back to the society is the religious duty of the rich. Therefore Indian businesses have been voluntarily spending on CSR activities, while several businesses kept spending on non business activities a significant number of entrepreneurs abstained from social spending, leading Government of India to take the lesgislative route by mandating 2% spend of net profit on CSR activities failing which companeis will be dealt legally. While the legislation on suface appers progressive and pro social, yet the consequences of making a rather volutary action a legally binding act is yet to be seen. This paper examines the possible social impact of the legislation and potential response of the corporate to a legislation of this kind.

Keywords: corporate social responsibility (CSR), companies act 2013, corporate citizenship, social spending

Procedia PDF Downloads 349

Authors: P. Hajek, J. Stejskal

Abstract:

The aim of this paper is to analyze the ability to identify and acquire knowledge from external sources at the regional level in the Czech Republic. The results show that the most important sources of knowledge for innovative activities are sources within the businesses themselves, followed by customers and suppliers. Furthermore, the analysis of relationships between the objective of the innovative activity and the ability to identify and acquire knowledge implies that knowledge obtained from a) customers aims at replacing outdated products and increasing product quality; b) suppliers aims at increasing capacity and flexibility of production; and c) competing businesses aims at growing market share and increasing the flexibility of production and services. Regions should therefore direct their support especially into development and strengthening of networks within the value chain.

Keywords: knowledge, acquisition, innovative business, Czech republic, region

Procedia PDF Downloads 340

Authors: Pavel Adámek

Abstract:

The concept of corporate social responsibility (CSR) in the Czech Republic has evolved notably during the last few years and an issue that started as an interest- and motive-based activity for businesses is becoming more commonplace. Governments have a role to play in ensuring that corporations behave according to the rules and norms of society and can legislate, foster, collaborate with businesses and endorse good practice in order to facilitate the development of CSR. The purpose of this paper is to examine the opportunities and options of CSR in government policy and research its relevance to a business sector. An increasing number of companies is engaging in responsible activities, the public awareness of CSR is rising, and customers are giving higher importance to CSR of companies in their choice. By drawing on existing CSR approach in Czech and understanding of CSR are demonstrated. The paper provides an overview, more detailed government approach of CSR.

Keywords: approach, corporate social responsibility, government policy, instruments

Procedia PDF Downloads 363

Authors: Bisi Olawoyin

Abstract:

The idea of knowledge sharing facilitated by the internet and complemented by a collaborative offline process in form of shared workshops called Makerspaces has become an attractive economic development agenda worldwide. Towards this end, Nigeria has established a number of Technology Incubation Centers (TICs) across the country with a view to using them as institutional mechanisms for commercializing Research and Development results; thus helping to promote venture creation and economic development. This study thus examines the impact of the nurturing by the TICs, on the performance of selected incubated enterprises that have grown into medium scale businesses in different sectors of the economy. The objective is to determine the extent to which the process of incubation has contributed to their growth in relation to similar businesses that developed outside the TICs. Six enterprises nurtured by TICs and six others outside, these were selected for the study. Data were collected in respect of the twelve enterprises covering their first five years of operation. Performances in terms of annual turnover, market share, and product range were analysed by scatter diagram plotted to show these variables against time and on comparative basis between TIC and non-TIC enterprises. Results showed an initial decline in performance for most of the incubatees in the first two years due to sluggish adjustment to withdrawal of subsidies enjoyed at the TICs. However, four of them were able to catch up with improved performance and surpass their non–TIC counterparts consistently from the third year. Analysis of year on year performance also showed average growth rate of 7% and 5 % respectively for TIC and non–TIC enterprises. The study, therefore, concludes that TICs have great role to play in nurturing new, innovative businesses but sees the need for government to address the provision of critical facilities especially electricity and utilities that constitute critical cost components for businesses. It must also address the issue of investment grants, loans including the development of technology/industrial parks that will serve to boost business survival.

Keywords: entrepreneurship, incubation, innovation, makerspaces

Procedia PDF Downloads 191

Authors: S. Archsana, Vajira Balasuriya

Abstract:

In Trincomalee of Sri Lanka, a post-conflict area, resettlement projects and policy initiatives are taking place to improve the wealth of the rural communities through promoting economic activities by way of encouraging the rural women to opt to commence and operate Micro and Small Scale (MSS) businesses. This study attempts to identify the manner in which the institutional environment could facilitate these MSS businesses owned and operated by women in the rural environment. The respondents of this study are the beneficiaries of the Divi Neguma Development Training Program (DNDTP); a project designed to aid women owned MSS businesses, in Trincomalee district. 96 women business operators, who had obtained financing facilities from the DNDTP, are taken as the sample based on fixed interval random sampling method. The study reveals that primary challenges encountered by 82% of the women business operators are lack of initial capital followed by 71% initial market finding and 35% access to technology. The low level of education and language barriers are the constraints in accessing support agencies/service providers. Institutional support; specifically management and marketing services, have a significant relationship with wealth augmentation. Institutional support at the setting-up stage of businesses are thin whereas terms and conditions of the finance facilities are perceived as ‘too challenging’. Although diversification enhances wealth of the rural women business operators, assistance from the institutional framework to prepare financial reports that are required for business expansion is skinny. The study further reveals that institutional support is very much weak in terms of providing access to new technology and identifying new market networks. A mechanism that could facilitate the institutional framework to support the rural women business operators to access new technology and untapped market segments, and assistance in preparation of legal and financial documentation is recommended.

Keywords: business facilitation, institutional support, rural women business operators, wealth augmentation

Procedia PDF Downloads 408