Search results for: small businesses

Authors: Kruti Dave

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Social media marketing is an essential component of 21st-century business. Social media platforms enable small and medium-sized businesses to enhance brand recognition, generate leads and sales. However, the research on social media marketing is still fragmented and focuses on specific topics, such as effective communication techniques. Since the various ways in which social media impacts individuals and companies alike, the authors of this article focus on the origin, impacts, and current state of Social Media, emphasizing their significance as customer empowerment agents. It illustrates their potential and current responsibilities as part of the corporate business strategy and also suggests several methods to engage them as marketing tools. The focus of social media marketing ranges from defenders to explorers, the culture of Social media marketing encompasses the poles of conservatism and modernity, social media marketing frameworks lie between hierarchies and networks, and its management goes from autocracy to anarchy. This research proposes an integrative framework for small and medium-sized businesses through social media, and the influence of the same will be measured. This strategy will help industry experts to understand this new era. We propose an axiom: Social Media is always a function of marketing as a revenue generator.

Keywords: social media, marketing strategy, media marketing, brand awareness, customer engagement, revenue generator, brand recognition

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Authors: Nancy Ayman Kamal Mohamed Mehrz

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As the economies of other countries in the Mediterranean Basin, the tourism sector in our country has a high denominator in economics. Tourism businesses, which are building blocks of tourism, sector faces with a variety of problems during their activities. These problems faced make business efficiency and competition conditions of the businesses difficult. Most of the problems faced by the tourism businesses and the information of consumers about consumers’ rights were used in this study, which is conducted to determine the problems of tourism businesses in the Central Anatolia Region. It is aimed to contribute the awareness of staff and executives working at tourism sector and to attract attention of businesses active concurrently with tourism sector and legislators. E-tourism is among the issues that have recently been entered into the field of tourism. In order to achieve this type of tourism, Information and Communications Technology (or ICT) infrastructures as well as Co-governmental organizations and tourism resources are important. In this study, the opinions of managers and tourism officials about the e-tourism in Leman city were measured; it also surveyed the impact of level of digital literacy of managers and tourism officials on attracting tourists. This study was conducted. One of the environs of the Esfahan province. This study is a documentary – survey and the sources include library resources and also questionnaires. The results obtained indicate that if managers use ICT, it may help e-tourism to be developed in the region, and increasing managers’ beliefs on e-tourism and upgrading their level of digital literacy may affect e-tourism development.

Keywords: financial problems, the problems of tourism businesses, tourism businesses, internet, marketing, tourism, tourism management economic competitiveness, enhancing competitiveness

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Authors: Pedram Behyar, Zahra Bayat

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The internet and web are changing ways of “far reaching scope and potential for transformation of the marketing functions”. The web is developing in a faster rate than any previous new communication medium. The website of destination has become a crucial branding channel, that is why all businesses are changing their way to communicate with their customers to encounter their needs and wants in better ways. Website provides numerous opportunities for businesses to strengthen their relationship with their customers. One of these opportunities is website component that enables internet users to make two-way communication with the businesses.

Keywords: marketing communication, brand image, usability, privacy and security, personalization and customization, responsiveness, customer online web experience

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Authors: Krishna Prasad Sharma

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Nepal’s financial sector has become deeper and wider, and the number and types of financial intermediaries have grown rapidly over the past two decades. However, access to financial services remains limited for many people in many parts of rural Nepal. While financial institutions have been expanding rapidly in an urban area in recent years, the access to the rural poor is excessively inadequate due to financial illiteracy and limited numbers of financial institutions that confined only to the district headquarters. Based on the focus group discussion, semi-structured interview of key people and literature review, this paper aims to examine the supply of and demand for financial services in Nepal and the constraints to increasing access to them, and offers way forward for making the financial sector work for all of Nepal’s people, especially the rural poor. While Nepal’s government has tried to increase access to formal financial services for small businesses and low-income households through directed lending programs for small businesses and low-income households, created specialized wholesale and retail institutions, and lowered market entry requirements, formal financial services are declining, and financial intermediation is stagnating. Supply and demand indicators show that, despite government efforts, formal financial institutions do not serve the needs of most of the Nepalese population. While access to and use of formal financial services are limited, in general, the problem is acute for small businesses and low-income households. Indeed, both access and use are closely correlated with business loan size and household income. This study concludes that banks and microfinance institutions with the use of mobile phones can connect hundreds of millions of unbanked and low-income people, especially rural poor to financial services at low costs. While there are many challenges ahead in expanding the service to rural areas, the mobile financial services will be beneficial that makes payments faster and cheaper, more convenient and accessible to a greater number of senders and recipients in rural areas. In rural areas, clients will benefit from money transfer and other mobile and online services.

Keywords: financial inclusion, financial enabling environment, microfinance, branchless banking, rural poor

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Authors: Madara Apsalone

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Knowledge management and innovation is key to competitive advantage and sustainable business development in advanced economies. Small and medium-sized enterprises (SMEs) have lower capacity and more constrained resources for long-term and high-uncertainty research and development investments. At the same time, SMEs can implement organizational innovation to improve their performance and further foster other types of innovation. The purpose of this study is to analyze, how socio-cultural factors such as shared values, organizational behaviors, work organization and decision making processes can influence knowledge management and help to develop organizational innovation via an empirical study. Surveying 600 SMEs in Latvia, the author explores the contribution of different socio-cultural factors to organizational innovation and the role of knowledge management and organizational learning in this process. A conceptual model, explaining the impact of organizational team, development, result-orientation and structure is created. The study also proposes insights that contribute to theoretical and practical discussions on fostering innovation of small businesses in small economies.

Keywords: knowledge management, organizational innovation, small and medium-sized enterprises, socio-cultural factors

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Authors: Muhammad Afiq Anaqi Bin Baharudin, Muhammad Izamuddin Bin Mohd Nasir, Syarifuddin Bin Sujuanda, Muhammad Syahmi Rusyaidi Bin Sham Suddin, Danish Hakimi Bin kamaruzaman, Muhammad Haqimi Nazim Bin Hasmanizam, Mohammad Akmal Zakwan Bin Amran, Muhammad Alparizi Bin Latif

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In particular, for small and medium enterprises (SMBs) in Malaysia, process safety management (PSM) is a crucial component of industrial safety. Limited resources, a lack of technical know-how, and linguistic and cultural obstacles are just a few of the difficulties SMBs in Malaysia encounter while putting PSM programmes into practice. A number of studies have emphasised the significance of leadership commitment, hazard identification and assessment, and employee involvement in the execution of effective PSM programmes, which are crucial for preventing accidents and incidents. In the literature, there has been a lot of discussion on the creation of specialised PSM frameworks for SMBs in Malaysia. Several studies have proposed implementation frameworks for PSM programmes that are based on recognised worldwide standards. Despite the significance of PSM in ensuring industrial safety, there are still a number of gaps in the literature on PSM in Malaysian SMBs. These gaps include the need for additional research on the efficiency of PSM programmes in reducing accidents and incidents in SMBs as well as the development of more specialised approaches to implementing PSM programmes in SMBs with limited resources and technical expertise. The goal of this review is to give a thorough overview of the body of research on PSM in Malaysian SMBs while highlighting important findings, points of contention, and knowledge gaps that need to be filled in.

Keywords: process safety management, occupational safety and health (OSH), small businesses, medium businesses, 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: Parisa Toloue Hayat Azar

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Businesses have been playing an important role in the economic growth and social welfare of cities; however, they generally have negative reputations regarding their impact on environmental issues regarding sustainability. However, some believe that by incorporating strategic Corporate Social Responsibility (CSR) activities, businesses will be able to solve problems in society, including environmental ones. Besides economic, social and environmental aspects, governance is another essential pillar for creating sustainable communities and cities. Governance plays a key role in the success of sustainable projects or creating long lasting legacies; an example of this can be creating circular supply chain with collaboration between different businesses, which in the end results in positive economic, social and environmental outcomes for everyone. Governance is a very important parameter in creating the legacy of low carbon and environmentally friendly city due to the fact that, besides building energy efficient buildings and infrastructure, citizens who are also part of the success of this system should know about how to behave and collaborate with others to make the system work. By deploying the philosophy of cultural historical activity theory, this paper explains how influential businesses have been and can be still used as a mediating tool for governance purposes, and succeed in creating shared value and lasting legacy within society.

Keywords: business, governance, CSR, sustainability

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Authors: Festus M. Epetimehin

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Resources are essential materials required for production of goods and services. Effective allocation of these resources can engender the success of current business activities and its sustainability for future generation. The study examined effect of resource allocation of small agribusinesses on entrepreneurship development in Southwest Nigeria. Sample size of 385 was determined using Cochran’s formula. 350 valid copies of questionnaire were used in the analysis. In order to achieve the objective, research design (descriptive and cross sectional designs) was used to gather data for the study through the administration of questionnaire to respondents. Both descriptive and inferential statistics were used to investigate the objective of the study. The result obtained indicated that resource allocation by small agribusinesses had a substantial positive effect on entrepreneurship development with the p-value of (0.0000) which was less than the 5.0% critical value with a positive regression coefficient of 0.53. The implication of this is that the ability of the entrepreneurs to deploy their resources efficiently through adequate realization of better gross margin could enhance business activities and development. The study recommends that business owners still need some level of serious training and exposure on how to manage modern small agribusiness resources to enhance business performance. The intervention of Agricultural Development Programme (ADP) and other Agricultural institutions are needed in this regard.

Keywords: resource, resource allocation, small businesses, agriculture, entrepreneurship development

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Authors: Baikuntha Prasad Acharya, Elizabeth Halpenny

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Small tourism enterprises (STEs) are primary providers of services and attractions in many destinations of less developed countries; they are considered the lifeblood of tourism sector. Furthermore, in rural community destinations of such countries including Nepal, STEs are regarded as alternative tools for advancing economic and sociocultural transformations. Many families in rural Nepali destinations are venturing into small tourism entrepreneurship so that their poverty can be reduced and they can live a sustained life. Most these communities are utilizing their lifestyles and natural and cultural heritages as tourism attractions. This study aimed to understand the sustainability of the STEs in rural destinations by synthesizing observations from Ghalegaon and Ghandruk of the Annapurna Conservation Area in western Nepal. Ghalegaon has community-based homestays and Ghandruk has independently owned and operated small tourism businesses such as cafes, tea houses, lodges, guest houses, and hotels, etc. The community-based homestays of Ghalegaon are compared with the independently owned and operated STEs of Ghandruk. The data were collected through multiple sources: 1) survey of tourists (n=112) and households (n=191); 2) interviews (n=14) with the locals, 3) group discussions (n=10) with different local groups including that of regional tourism players, experts and policy makers, 4) observations, and 5) document analysis. The STEs of both communities were first analyzed by understanding their level of sustainability as businesses, and then were explored how they were impacting on respective communities’ sustainability. The survey indicators and guidelines for interviews and group discussions were adapted to the Nepalese context based on four pillars of sustainability: economic, social, cultural and environmental; an additional dimension of management was also included, particularly for the STEs. The findings have shown a weaker economic and management dimensions of Ghalegaon’s Homestay than that of Ghandruk’s STEs. Some interesting social complexities of rural tourism and entrepreneurship were also revealed. This study’s findings do not much resonate to what Nepal government’s current rural tourism strategies that have been envisioned and prioritized for, particularly that the rural homestay tourism opportunities enhance inclusiveness of women and other deprived communities by spreading the benefits to the grassroots level. The study has highlighted several important applied implications to the local tourism management committees, tourism operators and associations, and regional and national tourism authorities. Further studies are advisable in other similar contexts in Nepal and in other countries to see whether there are variances in the findings.

Keywords: Nepal, rural tourism communities, small tourism enterprises, sustainability

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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: Ondiba Hesborn Andole, Kenichi Matsui

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Women entrepreneurs in the rural areas of Kenya have continually been affected by culturally engraved gendered bias customs. This research investigates challenges and prospects of rural women entrepreneurship in Kakamega County, Kenya. We conducted the questionnaire survey and interviews among 153 women entrepreneurs in the County to better understand how traditional norms influence them in conducting or seeking small businesses. We found that Luhya customs significantly affect growth and performance of rural women enterprises. Traditional Luhya society does not recognize women’s rights to land and higher education. The Luhya traditional roles of women are limited so that, without competing with men, they need to find gender biased works through networking activities. Also, without higher education degrees, their business prospects are limited. Among the respondents, 31% had primary education and about 5% had no formal education at all. We discuss how these women may succeed in businesses under these conditions.

Keywords: chama, culture, entrepreneurs, rural women

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Authors: Aishwarya Rai

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This study explores the transformative influence of generative AI on startups, businesses, and industries. We will explore how large businesses can benefit in the area of customer operations, where AI-powered chatbots can improve self-service and agent effectiveness, greatly increasing efficiency. In marketing and sales, generative AI could transform businesses by automating content development, data utilization, and personalization, resulting in a substantial increase in marketing and sales productivity. In software engineering-focused startups, generative AI can streamline activities, significantly impacting coding processes and work experiences. It can be extremely useful in product R&D for market analysis, virtual design, simulations, and test preparation, altering old workflows and increasing efficiency. Zooming into the retail and CPG industry, industry findings suggest a 1-2% increase in annual revenues, equating to $400 billion to $660 billion. By automating customer service, marketing, sales, and supply chain management, generative AI can streamline operations, optimizing personalized offerings and presenting itself as a disruptive force. While celebrating economic potential, we acknowledge challenges like external inference and adversarial attacks. Human involvement remains crucial for quality control and security in the era of generative AI-driven transformative innovation. This talk provides a comprehensive exploration of generative AI's pivotal role in reshaping businesses, recognizing its strategic impact on customer interactions, productivity, and operational efficiency.

Keywords: generative AI, digital transformation, LLM, artificial intelligence, startups, businesses

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Authors: Jill Stephenson, Marie Vaganay, Robert Cameron, Caoimhe McGurk, Neil Hewitt

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Purpose: The key aim of the research was to identify the secondary stressors experienced by businesses affected by single or repeated flooding and to determine to what extent businesses were affected by these stressors, along with any resulting impact on health. Additionally, the research aimed to establish the likelihood of businesses being re-exposed to the secondary stressors through assessing awareness of flood risk, implementation of property protection measures and level of community resilience. Design/methodology/approach: The chosen research method involved the distribution of a questionnaire survey to businesses affected by either single or repeated flood events. The questionnaire included the Impact of Event Scale (a 15-item self-report measure which assesses subjective distress caused by traumatic events). Findings: 55 completed questionnaires were returned by flood impacted businesses. 89% of the businesses had sustained internal flooding while 11% had experienced external flooding. The results established that the key secondary stressors experienced by businesses, in order of priority, were: flood damage, fear of reoccurring flooding, prevention of access to the premise/closure, loss of income, repair works, length of closure and insurance issues. There was a lack of preparedness for potential future floods and consequent vulnerability to the emergence of secondary stressors among flood affected businesses, as flood resistance or flood resilience measures had only been implemented by 11% and 13% respectively. In relation to the psychological repercussions, the Impact of Event scores suggested that potential prevalence of post-traumatic stress disorder (PTSD) was noted among 8 out of 55 respondents (l5%). Originality/value: The results improve understanding of the enduring repercussions of flood events on businesses, indicating that not only residents may be susceptible to the detrimental health impacts of flood events and single flood events may be just as likely as reoccurring flooding to contribute to ongoing stress. Lack of financial resources is a possible explanation for the lack of implementation of property protection measures among businesses, despite 49% experiencing flooding on multiple occasions. Therefore it is recommended that policymakers should consider potential sources of financial support or grants towards flood defences for flood impacted businesses. Any form of assistance should be made available to businesses at the earliest opportunity as there was no significant association between the time of the last flood event and the likelihood of experiencing PTSD symptoms.

Keywords: flood event, flood resilience, flood resistance, PTSD, secondary stressors

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Authors: Somdech Rungsrisawas

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The objectives of this study are to examine the relationship between the competitive advantage of small and medium enterprises (SMEs) and their overall performance. A mixed method has been applied to identify the effect of determinants toward competitive advantage. The sample is composed of SMEs in product and service businesses. The study has been tested at an organizational level with samples of SME entrepreneurs, business successors, and board of directors or management team. Quantitative analysis has been conducted through multiple regression analysis with 400 samples. The findings illustrate that each aspect of competitive advantage needs a different set of driving factors to explain either the direct or the indirect effect on firm performance. Interestingly, technological capability is a perfect mediator and interorganizational cooperation toward competitive advantage. In addition, differentiation is difficult to be perceived by customers, as well as difficult to manage; however, it is considered important to develop an SMEs product or service for firm sustainably.

Keywords: competitive advantage, firm performance, technological capability, Small and Medium Enterprise (SMEs)

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Authors: Murat Çolak, Elifnaz Tanyıldızı

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Today, human mobility with globalization has increased the interaction between countries significantly; although this contact has advanced societies in terms of civilization, it has also increased the likelihood of pandemics. The coronavirus (COVID-19) pandemic, which caused the most loss of life among them, turned into a global epidemic by covering the whole world in a short time. While there was an explosion in demand in some businesses around the world, some businesses temporarily stopped or had to stop their activities. The businesses affected by the crisis had to adapt to the new legal regulations but had to make changes in matters such as their working styles, human resources practices, and policies. One of the measures taken into account is the reduction of the workforce. The current COVID-19 crisis has posed serious challenges for many organizations and has generated an unprecedented wave of termination notices. This study examined examples of companies affected by the pandemic process and changed their working policies after the pandemic. This study aims to reveal the impact of the global COVID-19 pandemic on human resources policies and employees and how these situations will affect businesses in the future.

Keywords: human resource management, crisis management, COVID-19, business function

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Authors: Shoury Gupta

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Chatbots are a rapidly growing technological trend that has revolutionized the way businesses interact with their customers. With the advancements in artificial intelligence, chatbots can now mimic human-like conversations and provide instant and efficient responses to customer inquiries. In this research paper, we aim to explore the implications of chatbots on the future of globalization for both businesses and consumers. The paper begins by providing an overview of the current state of chatbots in the global market and their growth potential in the future. The focus is on how chatbots have become a valuable tool for businesses looking to expand their global reach, especially in areas with high population density and language barriers. With chatbots, businesses can engage with customers in different languages and provide 24/7 customer service support, creating a more accessible and convenient customer experience. The paper then examines the impact of chatbots on cross-cultural communication and how they can help bridge communication gaps between businesses and consumers from different cultural backgrounds. Chatbots can potentially facilitate cross-cultural communication by offering real-time translations, voice recognition, and other innovative features that can help users communicate effectively across different languages and cultures. By providing more accessible and inclusive communication channels, chatbots can help businesses reach new markets and expand their customer base, making them more competitive in the global market. However, the paper also acknowledges that there are potential drawbacks associated with chatbots. For instance, chatbots may not be able to address complex customer inquiries that require human input. Additionally, chatbots may perpetuate biases if they are programmed with certain stereotypes or assumptions about different cultures. These drawbacks may have significant implications for businesses and consumers alike. To explore the implications of chatbots on the future of globalization in greater detail, the paper provides a thorough review of existing literature and case studies. The review covers topics such as the benefits of chatbots for businesses and consumers, the potential drawbacks of chatbots, and how businesses can mitigate any risks associated with chatbot use. The paper also discusses the ethical considerations associated with chatbot use, such as privacy concerns and the need to ensure that chatbots do not discriminate against certain groups of people. The ethical implications of chatbots are particularly important given the potential for chatbots to be used in sensitive areas such as healthcare and financial services. Overall, this research paper provides a comprehensive analysis of chatbots and their implications for the future of globalization. By exploring both the potential benefits and drawbacks of chatbot use, the paper aims to provide insights into how businesses and consumers can leverage this technology to achieve greater global reach and improve cross-cultural communication. Ultimately, the paper concludes that chatbots have the potential to be a powerful tool for businesses looking to expand their global footprint and improve their customer experience, but that care must be taken to mitigate any risks associated with their use.

Keywords: chatbots, conversational AI, globalization, businesses

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Authors: Betül Garda

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Technological developments have diversified marketing activities of the tourism sector and it has increased tourism opportunities to compete on a global scale for tourism businesses. Tourism businesses have been forced to use its core skills and knowledge effectively with the increase in effectiveness of the technology in the global competitive environment. Tourism businesses have been reached beyond the traditional boundaries because of their commercial activities, so, the boundaries of the national market either eliminated or blurred. Therefore, the internet is the alternative promotion tool and distribution channel to providing unlimited facilities for tourism suppliers. For example, the internet provides an opportunity to reach customers on a global scale with direct email marketing, advertising, customer service, promotion, sales, and marketing. Tourism businesses have improved themselves with the continuous information flows and also they have provided the permanence of the changes. Especially in terms of tourism businesses, social media is emerging as an extremely important tool in the use of knowledge effectively. This research paper investigates the impact of social media on the tourism businesses. A social networking site is a type of social media that provides a platform for business and people to connect with each other. Social media is so flexible that it can be used for both leisure and business purposes. In the tourism industry, social networking sites are one of the essential tools that play an important and beneficial role. The topic that will be discussed in this research paper are consumer behavior, connection with consumers, effectiveness in terms of time and cost, creating brand awareness and building the image of the company, promoting company, targeting consumers in a conceptual frame.

Keywords: branding, promoting, social media in tourism, tourism marketing tools

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Authors: G. Erkomaishvili

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This paper discusses small entrepreneurship development strategy in Georgia and the tools and regulations that will encourage development of small entrepreneurship. The current situation in the small entrepreneurship sector, as well as factors affecting growth and decline in the sector and the priorities of state support, are studied and analyzed. The objective of this research is to assess the current situation of the sector to highlight opportunities and reveal the gaps. State support of small entrepreneurship should become a key priority in the country’s economic policy, as development of the sector will ensure social, economic and political stability. Based on the research, a small entrepreneurship development strategy is presented; corresponding conclusions are made and recommendations are developed.

Keywords: economic policy for small entrepreneurship development, small entrepreneurship, regulations, small entrepreneurship development strategy

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Authors: S. Archsana, Vajira Balasuriya

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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

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Authors: Dev Ras Pandey, Bharat Mishra, S. K. Tripathi

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Cloud computing is ready to transform the structure of businesses and learning through supplying the real-time applications and provide an immediate help for small to medium sized businesses. The ability to run a hypervisor inside a virtual machine is important feature of virtualization and it is called nested virtualization. In today’s growing field of information technology, many of the virtualization models are available, that provide a convenient approach to implement, but decision for a single model selection is difficult. This paper explains the applications of operating system based virtualization in cloud computing with an appropriate/suitable model with their different specifications and user’s requirements. In the present paper, most popular models are selected, and the selection was based on container and hypervisor based virtualization. Selected models were compared with a wide range of user’s requirements as number of CPUs, memory size, nested virtualization supports, live migration and commercial supports, etc. and we identified a most suitable model of virtualization.

Keywords: virtualization, OS based virtualization, container based virtualization, hypervisor based virtualization

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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: N. Ikasari, T. Sumransat, U. Eko, R. Kusumastuti

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Small and medium enterprises (SMEs) are regarded as the engine for economic development, notwithstanding their continuous financing conundrum. In the case of developing countries, access to finance is a reflection of the effectiveness of government policy. The widely accepted perspective to assess small businesses’ access to finance is that of economic view. The existing body of literature presents access to finance in three dimensions; they are accessibility, eligibility and affordability. Within this perspective, the role of socio-cultural has not explored. This study is aimed at investigating the existence of any socio-cultural factors within access to finance issue in Asian countries where governance is enriched by countries’ values and beliefs. The significance of this study is the instigation of supplementary dimension to assess access to finance that eventually contributes to the development of micro-finance policy. Indonesia and Thailand are selected as cases in point, where distinction is drawn on the level of cultural diversity and micro-finance policy in respective country. A questionnaire is used to collect information related to the three dimensions of access to finance as well as to explore alternative financing reasoning to elaborate the issue from the demand side. Questionnaires are distributed to 60 small business owners operating in Indonesia and the same number in Thailand. In order to present a complete understanding on the matter at hand, interviews with banks are conducted to capture the perspective as presented by the supply side. Research findings show that small business owners and banks in Indonesia and Thailand are in agreement that access to finance is not deemed as an issue. However, trust issue that exists mutually between financing users and providers leads small business owners in Indonesia to look for alternative financing other than banks. The findings contribute to the refinement of micro-financing policy in Indonesia and Thailand.

Keywords: access to finance, Indonesia, small and medium enterprises, Thailand

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Authors: Lee Kar Heng

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Activists are people who use strong actions such as public protests or social media accusations in support of or opposition to controversial issues. While activism is the act of using such vigorous campaigns and actions to achieve political or social changes by the activists, today, the pressure and stresses from activism do not only grow in terms of civil rights but also in racial justice, labour reforms, and environmental change, to name a few. Some activism acts are constructive, but many are destructive, and they affect businesses as activists direct their sights on corporations, business entities, and organizations to achieve their supporting objectives beyond reasonable means. The paper attempts to share experiences of businesses being attacked by activists and how the attacks are mitigated. In sharing, this paper will discuss the effectiveness of the activist action and ways to react to them. The positive and negative impacts caused by activists' support action against corporations are also discussed.

Keywords: activism, conflicts, business, social responsibility

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Authors: Roberto Cerchione, Emilio Esposito, Mario Raffa

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The relevance and the strategic importance of engineering skills in innovation and in the development of businesses and organizations push to investigate the role of the engineer in society today. In the twentieth century the emergence of a variety of technical and scientific knowledge has led to the rise of new areas of skills going from a "all-comprehensive" engineering to an engineering characterized by many specializations. Organizational and structural changes within companies and the emergence of an industrial society based on multiple interrelationships led to the transformation of engineering education. The objective of this work is to report main steps and many pioneering experiences, both national and international, that have led to establish a graduate degree program in Engineering Management and its subsequent evolution in Entrepreneurial Engineering. The first section of this article focuses on the origins and precursors of Engineering Management education. The second section concerns main Italian education programs. Then the attention is focused on the evolution of Engineering Management in Naples, on the intersectoral nature of this degree program, on the relationship with business community, associations, labor market, small businesses and environment. Finally, the discussion of recent years about the skills that characterize entrepreneurial engineer in society are presented.

Keywords: education, engineering management, entrepreunerial engineering, engineering skills, managerial skills, entrepreneurial skills

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Authors: Tengku Ezni Balqiah, Fanny Martdianty, Rifelly Dewi Astuti, Mutia Nurazizah Rachmawati

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The Corona Disease 2019 (COVID-19) pandemic has changed the world considerably and has disrupted businesses and people’s lives globally. In response to the pandemic, businesses have seen increased demand for corporate social responsibility (CSR). Businesses can increase their investments in CSR initiatives during the pandemic through various actions. This study examines how the various motives of philanthropy CSR influence perceived quality of life, company image, and advocacy. This study employed surveys of 719 respondents from seven provinces in Indonesia that had the highest number of COVID-19 cases in the country. A structural equation model was used to test the hypothesis. The results showed that value and strategic motives positively influenced the perceived quality of life and corporate image, while the egoistic motive was negatively associated with both the perceived quality of life and the image of the company. The study also suggested that advocacy was strongly related to the perceived quality of life instead of a corporate image. The results indicate that, during a pandemic, both public- (i.e. value) and firm-serving (i.e. strategic) motives can have the same impact as long as people perceive that the businesses are sincere.

Keywords: advocacy, COVID 19, CSR motive, Indonesia, quality of life

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Authors: Prateek Guleria, Shubham Sharma, Rakesh Kumar Shukla, Harshit Sharma

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Performance measurement of small and medium-sized businesses is the primary need for all companies to survive and thrive in a dynamic global company. A structured and systematic, integrated organization increases employee reliability, sustainability, and loyalty. This paper is a case study of a gear manufacturing industry that was facing the problem of rejection due to dents and damages in gear. The DMAIC cycle, along with different tools used in the research work includes SIPOC (Supply, Input, Process, Output, Control) Pareto analysis, Root & Cause analysis, and FMEA (Failure Mode and Effect Analysis). The six-sigma level was improved from 4.06 to 3.46, and the rejection rate was reduced from 7.44% to 1.56%. These findings highlighted the influence of a Lean Six Sigma module in the gear manufacturing unit, which has already increased operational quality and continuity to increase market success and meet customer expectations. According to the findings, applying lean six sigma tools will result in increased productivity. The results could assist businesses in deciding the quality tools that were likely to improve efficiency, competitiveness, and expense.

Keywords: six sigma, DMAIC, SIPOC, failure mode, effect analysis

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Authors: Guadalupe Fuentes-Lombardo, Manuel Carlos Vallejo-Martos, Rubén Fernández-Ortiz, Miriam Cano-Rubio

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The different ways in which companies enter foreign markets, exporting their products and direct investment and using strategic alliances or not, are influenced by a series of peculiarities specific to family businesses. In these companies, different systems, such as the family, property, and business overlap; giving them unique and specific characteristics which on occasions can enhance the development of cooperation agreements and in other situations can hinder them. Previous research has shown that these companies are more likely to enter into strategic alliances with certain specific features, and are more reluctant to take part in others in which some of the advantages of the family business are put at risk, such as control of ownership and decision-making over the company by the family, among others. These arguments show that there is a wide range of interesting aspects and peculiarities in the process of internationalization of the family business, although the research objectives of this paper focus on three in particular. Our first objective will be to discover why family businesses decide to establish or not strategic alliances in their internationalization processes in comparison with other companies that are not family owned. Secondly we will be identifying the idiosyncratic aspects of family businesses that favor or hinder the use of strategic alliances as a means of entering foreign markets. Our third and final objective will be to define the types of strategic alliance most commonly used by family businesses and the reasons why they choose these particular forms of alliance rather than others. We chose these research objectives for three main reasons. Firstly because research on this subject shows that alliances are the best way to begin the international expansion process, among other reasons because they provide the partners with different kinds of resources and capacity, so increasing the probability of successful internationalization. Secondly, because family and non-family businesses are often equipped with different types of resources and strategic alliances, offer them the chance to acquire resources less frequently found in family businesses. Thirdly, because the strengths and weaknesses of these companies could affect their decisions whether or not to use strategic alliances in their international expansion process and the success achieved in these alliances. As a result, these companies prefer to enter into cooperation agreements with conditions that do not put their specific status as family companies at risk.

Keywords: family business, internationalization, strategic alliances, olive-oil and wine industry

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Authors: Zeynep Ayfer Bozat

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As traditional innovation has already taken its place in managers’ to do lists; managers and companies have started to look for new ways to go beyond the traditional innovation. Because of its cost, traditional innovation became a burden for companies since they only use inner sources. Companies have intended to use outer innovation sources to decrease the innovation costs and Open Innovation has become a new solution for companies at this point. Crowdsourcing is a tool of Open Innovation and it consists of two words: Outsourcing and crowd. Crowdsourcing aims to benefit from the efforts and ideas of a virtual crowd via Internet technologies. In addition to that, crowdsourcing can help entrepreneurs to innovate and grow their businesses. They can crowd source anything they can use to grow their businesses: Ideas, investment, new business, new partners, new solutions, new policies, data, insight, marketing or talent. Therefore, the aim of the study is to be able to show some possible ways for entrepreneurs to benefit from crowdsourcing to expand or foster their businesses. In the study, the term crowdsourcing has been given in details and these possible ways have been searched and given.

Keywords: crowdsourcing, entrepreneurship, innovation, open innovation

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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

Procedia PDF Downloads 362