Search results for: SMEs.

Authors: K. Saravanan, R. Anita

Abstract:

Flexible AC Transmission Systems (FACTS) is granting a new group of advanced power electronic devices emerging for enhancement of the power system performance. Unified Power Flow Controller (UPFC) is a recent version of FACTS devices for power system applications. The back-up energy supply system incorporated with UPFC is providing a complete control of real and reactive power at the same time and hence is competent to improve the performance of an electrical power system. In this article, backup energy supply unit such as superconducting magnetic energy storage (SMES) is integrated with UPFC. In addition, comparative exploration of UPFC–battery, UPFC–UC and UPFC–SMES performance is evaluated through the vibrant simulation by using MATLAB/Simulink software.

Keywords: Power system, FACTS, UPFC, DC-DC chopper, battery, UC, SMES.

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Authors: Ebere U. Okolo, Eunice C. Okpalaojiego, Chimaobi V. Okolo

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Some investors prefer to keep their money in the bank rather than invest in Small and Medium Enterprise (SME) due to the high cost of running small and medium scale enterprise in Enugu State. This cost primarily concerns multiple-taxation, enormous tax burdens, levies and charges. This study examines the effect of multiple-taxation on the investments in SMEs. The study used survey design with SME population of 80. Questionnaire was used to collect data. Simple percentages/frequencies were used to analyze the data and the research hypotheses were tested with ANOVA. It was found that multiple taxation has negative effect on SMEs investment. Furthermore, the relationship between SMEs investment and its ability to pay tax is significant. The researcher recommends that government should develop a tax policy that considers the enhancement of SMEs’ capital allowance when imposing taxes. Government should also consider a tax policy that encourages investment in SMEs by consolidating all taxes in one slot and latter disseminate to various government purses rather than having many closely related but different taxes at the same time.

Keywords: Investments, multiple taxation, small and medium enterprises.

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Authors: K. Matušínská, Z. Bednarčík, M. Klepek

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This paper examines international marketing in business practice of Czech exporting small and medium-sized enterprises (SMEs) with regard to the strategic perspectives. Research was focused on Czech exporting SMEs from Moravian- Silesia region and their behavior on international markets. For purpose of collecting data, a questionnaire was given to 262 SMEs involved in international business. Statistics utilized in this research included frequency, mean, percentage, and chi-square test. Data were analyzed by Statistical Package for the Social Sciences software. The research analysis disclosed that there is certain space for improvement in strategic marketing especially in a marketing research, perception of cultural and social differences, product adaptation and usage of marketing communication tools.

Keywords: International Marketing, Marketing Mix, Marketing Research, Small and Medium-sized Enterprises (SMEs), Strategic Marketing.

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Authors: Suselo Thomas, Suyoto, Dwiandiyanta B. Yudi

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This paper explain about prototype of a business directory for micro-scale businesses, small and medium enterprises (SMEs), the third phase of the research. The third phase is the phase of software development based on the model of SME business directory that had been developed, to create prototype software SME business directory. In the fourth phase, namely the implementation, these units have been developed are tested to obtain input from potential users. The fifth phase is the testing phase to determine the strengths and weaknesses of software has been developed. The result of this phase is the software in the form of on-line (web based) and multimedia-based. Business Directory, if implemented will facilitate and optimize the access of SMEs to ease supplier access to marketing. Business Directory will be equipped with the power of geocoding, so each location can be easily viewed SMEs on the map. The map will be constructed by using the functionality of a web-based Google Maps API. The information presented in the form of multimedia that can be more interesting and interactive. Methodology used to achieve the goal: observation, interviews, modeling and classifying business directory for SMEs. 

Keywords: Business directories, SMEs, Google Maps API, Multimedia, Prototype.

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Authors: Michiko Miyamoto

Abstract:

This paper empirically investigates whether information technology (IT) strategies, business strategies, and divisions are aligned to meet overall business goals for Korean Small and medium-sized enterprises (SMEs), based on structure based Strategic Alignment Model, and make comparison with those of Japanese SMEs. Using 2,869 valid responses of Korean Human Capital Corporate Panel survey, a result of this study suggests that Korean human resources (HR) departments have a major influence over IT strategy, which is the same as Japanese SMEs, even though their management styles are quite different. As for IT strategy, it is not related to other departments at all for Korean SMEs. The Korean management seems to possess a great power over each division, such as Sales/Service, Research and Development/Technical Experts, HR, and Production.

Keywords: IT-business alignment, structured based strategic alignment model, structural equation model, human resources department.

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Authors: Ahmet Diken, Tahsin Karabulut

Abstract:

The factor which developing countries are in need is capital. Such countries make an effort to increase their income in order to meet their expenses for employment, infrastructure, superstructure investments, education, health and defense. The sole income of the countries is taxes collected from businesses. The businesses should drive profit and return in order to be able to toll. In a world where competition exists, different strategies may be followed by business in developing countries and they must specify their target markets. İn order to minimize cost and maximize profit, SMEs have to concentrate on target markets and select cost oriented strategy. In this study, a theoretical model is suggested that SME firms have to act as cluster between each other, and also must be optimal provider for large scale firms. SMEs’ policy must be supported by public. This relationship can benefit large scale firms to have brand over the world, and this organization increases value added for developing countries.

Keywords: Competitiveness, sustainability, SMEs, developing countries.

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Authors: Somdech Rungsrisawas

Abstract:

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: Julio Kauss, Miguel Cadillo, David Mauricio

Abstract:

E-commerce is a business model that allows companies to optimize the processes of buying, selling, transferring goods and exchanging services through computer networks or the Internet. In Peru, the electronic commerce is used infrequently. This situation is due, in part to the fact that there is no model that allows companies to implement an e-commerce solution, which means that most SMEs do not have adequate knowledge to adapt to electronic commerce. In this work, a reference model is proposed for the implementation of an e-commerce solution in Peruvian SMEs in the retail sector. It consists of five phases: Business Analysis, Business Modeling, Implementation, Post Implementation and Results. The present model was validated in a SME of the Peruvian retail sector through the implementation of an electronic commerce platform, through which the company increased its sales through the delivery channel by 10% in the first month of deployment. This result showed that the model is easy to implement, is economical and agile. In addition, it allowed the company to increase its business offer, adapt to e-commerce and improve customer loyalty.

Keywords: E-commerce, retail, SMEs, reference model.

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Authors: Torsti Rantapuska, Sariseelia Sore

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Acquiring commercial off-the-shelf (COTS) software applications is becoming routine in organizations. However, eliciting user requirements, finding the candidate COTS products and making the decision is a complex task, especially for SMEs who do not have the time and knowledge needed to do the task properly. The existing models intended to help the decision makers are originally designed for professional use. SMEs are obligated to rely on the software vendor’s ability to solve the problem with the systems provided.  In this paper, we develop a model for SMEs for the acquisition of Commercial Off-The-Shelf (COTS) software products. A leading idea of the model is that the ICT investment is basically a change initiative and therefore it should also be taken as a process of organizational learning. The model is designed bearing three objectives in mind: 1) business orientation, 2) agility, and 3) Learning and knowledge management orientation. The model can be applied to ICT investments in SMEs which have a professional team leader with basic business and IT knowledge. 

 

Keywords: COTS acquisition, ICT investment, organizational learning, ICT adoption.

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Authors: Indre Brazauskaite, Vilte Auruskeviciene

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The paper explores the Stage-Gate framework application for innovation maturity among small and medium-sized enterprises (SMEs). Innovation management becomes an essential business survival process for all sizes of organizations that can be evaluated and audited systemically. This research systemically defines and assesses the innovation process from the perspective of the company’s top management. Empirical research explores attitudes and existing practices of innovation management in SMEs in Baltic countries. It structurally investigates the current innovation management practices, level of standardization, and potential challenges in the area. Findings allow to structure of existing practices based on an institutionalized model and contribute to a more advanced understanding of the innovation process among SMEs. Practically, findings contribute to advanced decision-making and business planning in the process.

Keywords: innovation measure, innovation process, small and medium-sized enterprises, SMEs, stage-gate framework.

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Authors: Amitrajit Sarkar

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The use of Electronic Commerce (EC) technologies enables Small Medium Enterprises (SMEs) to improve their efficiency and competitive position. Much of the literature proposes an extensive set of benefits for organizations that choose to adopt and implement ECommerce systems. Factors of Business –to-business (B2B) E-Commerce adoption and implementation have been extensively investigated. Despite enormous attention given to encourage Small Medium Enterprises (SMEs) to adopt and implement E-Commerce, little research has been carried out in identifying the factors of Business-to-Consumer ECommerce adoption and implementation for SMEs. To conduct the study, Tornatsky and Fleischer model was adopted and tested in four SMEs located in Christchurch, New Zealand. This paper explores the factors that impact the decision and method of adoption and implementation of ECommerce systems in automobile industry. Automobile industry was chosen because the product they deal with i.e. cars are not a common commodity to be sold online, despite this fact the eCommerce penetration in automobile industry is high. The factors that promote adoption and implementation of E-Commerce technologies are discussed, together with the barriers. This study will help SME owners to effectively handle the adoption and implementation process and will also improve the chance of successful E-Commerce implementation. The implications of the findings for managers, consultants, and government organizations engaged in promoting E-Commerce adoption and implementation in small businesses and future research are discussed.

Keywords: E-Commerce in SMEs, E-Commerce in automobile industry, B2C E-Commerce, E-Commerce adoption and Implementation, E-Commerce Website Implementation, E-Commerce Models.

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Authors: S. Lemoussu, J. C. Chaudemar, R. A. Vingerhoeds

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The aeronautics sector is currently living an unprecedented growth largely due to innovative projects. In several cases, such innovative developments are being carried out by Small and Medium sized-Enterprises (SMEs). For instance, in Europe, a handful of SMEs are leading projects like airships, large civil drones, or flying cars. These SMEs have all limited resources, must make strategic decisions, take considerable financial risks and in the same time must take into account the constraints of safety, cost, time and performance as any commercial organization in this industry. Moreover, today, no international regulations fully exist for the development and certification of this kind of projects. The absence of such a precise and sufficiently detailed regulatory framework requires a very close contact with regulatory instances. But, SMEs do not always have sufficient resources and internal knowledge to handle this complexity and to discuss these issues. This poses additional challenges for those SMEs that have system integration responsibilities and that must provide all the necessary means of compliance to demonstrate their ability to design, produce, and operate airships with the expected level of safety and reliability. The final objective of our research is thus to provide a methodological framework supporting SMEs in their development taking into account recent innovation and institutional rules of the sector. We aim to provide a contribution to the problematic by developing a specific Model-Based Systems Engineering (MBSE) approach. Airspace regulation, aeronautics standards and international norms on systems engineering are taken on board to be formalized in a set of models. This paper presents the on-going research project combining Systems Engineering and Project Management process modeling and taking into account the metamodeling problematic.

Keywords: Aeronautics, certification, process modeling, project management, SME, systems engineering.

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Authors: S. Padma, Dr. R. Lakshmipathi, K. Ramash Kumar, P. Nandagopal

Abstract:

The power system network is becoming more complex nowadays and it is very difficult to maintain the stability of the system. Today-s enhancement of technology makes it possible to include new energy storage devices in the electric power system. In addition, with the aid of power electronic devices, it is possible to independently exchange active and reactive power flow with the utility grid. The main purpose of this paper proposes a Proportional – Integral (PI) control based 48 – pulse Inverter based Static Synchronous Series Compensator (SSSC) with and without Superconducting Magnetic Energy Storage (SMES) used for enhancing the transient stability and regulating power flow in automatic mode. Using a test power system through the dynamic simulation in Matlab/Simulink platform validates the performance of the proposed SSSC with and without SMES system.

Keywords: Flexible AC transmission system (FACTS), PIControl, Superconducting Magnetic Energy Storage (SMES), Static Synchronous Series Compensator (SSSC).

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Authors: Eli Hustad, Aurilla A. Bechina

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The purpose of this research is to increase our knowledge as regards how Small-and-Medium-Sized Enterprises (SMEs) tackle ERP implementation projects to achieve successful adoption and use of these systems within the organization. SMEs have scare resources to handle these kinds of projects which have proved to be risky and costly. There are several studies focusing on ERP implementation in larger companies, however, few studies report on challenges experienced by SMEs. Our research seeks to bridge this gap. Through a multiple case study of four companies, we identified challenges and critical elements within the different phases (pre-implementation, implementation and post-implementation) of the ERP life cycle. To interpret our findings, we utilize a well-know ERP life cycle model and critical success factors developed for larger companies which are reported in former research literature. We discuss if these models are relevant for SMEs and suggest additional critical elements identified in this study to make a framework more adapted to the SME context.

Keywords: ERP implementation challenges, ERP implementation framework, ERP life cycle model, Small-and- Medium-Sized Enterprises, ERP critical success factors

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Authors: Supattra Kanchanopast

Abstract:

The purpose of this research was to identify factors that influenced the success of e-commerce implementation within SMEs businesses. In order to achieve the objectives of this research, the researcher collected data from random firms in Thailand, both the users and those who are not using the e-commerce. The data was comprised of the results of 310 questionnaires, as well as 10 interviews with owner/managers of businesses who are currently using e-commerce successfully. The data were analyzed by using descriptive statistics, which included frequency, percentages, mean, and the standard deviation of pertinent factors. Independent t-test and one-way ANOVA test were also used. The findings of this research revealed that 50% of all the firms surveyed had e-commerce website, whereas, over 20% of all firms surveyed had developing an ecommerce strategy. The result findings also indicate that organizational factors, technological factors and environment factors as significant factors effecting success of e-commerce implementation in SMEs. From the hypotheses testing, the findings revealed that the different level of support use ecommerce by owner/manager had different success in e-commerce implementation. Moreover, the difference in e-commerce management approach affected the success in terms of higher total sales for the business or higher number of retained or returning customers.

Keywords: Electronic commerce, Implementation of ECommerce, small and medium sized enterprises, SMEs, Website, success factors.

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Authors: Wanida Suwunniponth

Abstract:

The objectives of this research paper were to study the influencing factors that contributed to the success of electronic commerce (e-commerce) and to study the approach to enhance the standard of e-commerce for small and medium enterprises (SME). The research paper focused the study on only sole proprietorship SMEs in Bangkok, Thailand. The factors contributed to the success of SME included business management, learning in the organization, business collaboration, and the quality of website. A quantitative and qualitative mixed research methodology was used. In terms of quantitative method, a questionnaire was used to collect data from 251 sole proprietorships. The System Equation Model (SEM) was utilized as the tool for data analysis. In terms of qualitative method, an in-depth interview, a dialogue with experts in the field of ecommerce for SMEs, and content analysis were used. By using the adjusted causal relationship structure model, it was revealed that the factors affecting the success of e-commerce for SMEs were found to be congruent with the empirical data. The hypothesis testing indicated that business management influenced the learning in the organization, the learning in the organization influenced business collaboration and the quality of the website, and these factors, in turn, influenced the success of SMEs. Moreover, the approach to enhance the standard of SMEs revealed that the majority of respondents wanted to enhance the standard of SMEs to a high level in the category of safety of e-commerce system, basic structure of e-commerce, development of staff potentials, assistance of budget and tax reduction, and law improvement regarding the e-commerce respectively.

Keywords: Electronic Commerce, Influencing Factors, Small and Medium Enterprises.

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Authors: S. Looser, W. Wehrmeyer

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Given the limited research on Small and Mediumsized Enterprises’ (SMEs) contribution to Corporate Social Responsibility (CSR) and even scarcer research on Swiss SMEs, this paper helps to fill these gaps by enabling the identification of supranational SME parameters. Thus, the paper investigates the current state of SME practices in Switzerland and across 15 other countries. Combining the degree to which SMEs demonstrate an explicit (or business case) approach or see CSR as an implicit moral activity with the assessment of their attributes for “variety of capitalism” defines the framework of this comparative analysis. To outline Swiss small business CSR patterns in particular, 40 SME owner-managers were interviewed. A secondary data analysis of studies from different countries laid groundwork for this comparative overview of small business CSR. The paper identifies Swiss small business CSR as driven by norms, values, and by the aspiration to contribute to society, thus, as an implicit part of the day-to-day business. Similar to most Central European, Mediterranean, Nordic, and Asian countries, explicit CSR is still very rare in Swiss SMEs. Astonishingly, also British and American SMEs follow this pattern in spite of their strong and distinctly liberal market economies. Though other findings show that nationality matters this research concludes that SME culture and an informal CSR agenda are strongly formative and superseding even forces of market economies, nationally cultural patterns, and language. Hence, classifications of countries by their market system, as found in the comparative capitalism literature, do not match the CSR practices in SMEs as they do not mirror the peculiarities of their business. This raises questions on the universality and generalisability of unmediated, explicit management concepts, especially in the context of small firms.

Keywords: CSR, comparative study, cultures of capitalism, Small and Medium-sized Enterprises.

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Authors: Simeon Karafolas, Maciej Woźniak

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Mostly of public financing programs at national and regional level are funded from European Union sources. EU can participate directly to a national and regional program (example LEADER initiative, URBAN…) or indirectly by funding regional or national funds.Funds from European Union are provided from EU multiannual financial framework form which the annual budget is programmed. The adjusted program 2007-2013 of the EU considered commitments of almost 1 trillion Euros for the EU-28 countries. Provisions of the new program 2014-2020 consider commitments of more than 1 trillion Euros. Sustainable growth, divided to Cohesion and Competitiveness for Growth an Employment, is one of the two principal categories; the other is the preservation and management of natural resources.Through this financing process SMEs benefited of EU and public sources by receiving grants for their investments. Most of the financial instruments are available indirectly through the national financial intermediaries. Part of them is managed by the European Investment Fund.The paper focuses on the public financing to SMEs by examining case studies on divers forms of public help. It tries to distinguish the efficiency of the examined good practices and therefore try to have some conclusions on the possibility of application to other regions.

Keywords: DIFASS, financing, grants, SMEs.

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Authors: K. Saravanan

Abstract:

An electrical power system has some negative aspects such as flickering and deviations of voltage/power. This can be eliminated using energy storage devices that will provide a backup energy at the time of voltage/power deviations. Energy-storage devices get charging when system voltage/power is higher than reference value and discharging when system voltage/power is lower than reference value, it is acting as catalysts to provide energy boost. In this paper, a dynamic control of Unified Power Flow Controller (UPFC) integrated with superconducting magnetic energy storage (SMES) is developed to improve the power quality, power oscillation damping, and dynamic voltage stability through the transmission line. UPFC inter-connected to SMES through an interface with DC-DC chopper. This inter-connected system is capable of injecting (absorbing) the real and reactive power into (from) the system at the beginning of stability problems. In this paper, the simulation results of UPFC integrated with SMES and UPFC integrated with fuel cells (FCs) are compared using MATLAB/Simulink software package.

Keywords: UPFC, SMES, power system stability, flexible ac transmission systems, fuel cells, chopper.

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Authors: Humberto N. Teixeira, Isabel S. Lopes, Sérgio D. Sousa

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This article proposes a new methodology to be used by SMEs (Small and Medium enterprises) to characterize their performance in quality, highlighting weaknesses and area for improvement. The methodology aims to identify the principal causes of quality problems and help to prioritize improvement initiatives. This is a self-assessment methodology that intends to be easy to implement by companies with low maturity level in quality. The methodology is organized in six different steps which includes gathering information about predetermined processes and subprocesses of quality management, defined based on the well-known Juran-s trilogy for quality management (Quality planning, quality control and quality improvement) and, predetermined results categories, defined based on quality concept. A set of tools for data collecting and analysis, such as interviews, flowcharts, process analysis diagrams and Failure Mode and effects Analysis (FMEA) are used. The article also presents the conclusions obtained in the application of the methodology in two cases studies.

Keywords: Continuous improvement, Diagnosis, Quality Management, Self-assessment, SMEs

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Authors: Ali Serhan Koyuncugil, Nermin Ozgulbas

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In this paper, a data mining model to SMEs for detecting financial and operational risk indicators by data mining is presenting. The identification of the risk factors by clarifying the relationship between the variables defines the discovery of knowledge from the financial and operational variables. Automatic and estimation oriented information discovery process coincides the definition of data mining. During the formation of model; an easy to understand, easy to interpret and easy to apply utilitarian model that is far from the requirement of theoretical background is targeted by the discovery of the implicit relationships between the data and the identification of effect level of every factor. In addition, this paper is based on a project which was funded by The Scientific and Technological Research Council of Turkey (TUBITAK).

Keywords: Risk Management, Financial Risk, Operational Risk, Financial Early Warning System, Data Mining, CHAID Decision Tree Algorithm, SMEs.

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Authors: Marie Paseková, Jiří Strouhal, Lehte Alver, Arturs Praulinš

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During last decades is widely discussed the international harmonization of financial reporting. This harmonization is also affected by national tax systems in analyzed countries. This paper provides some evidence on current national tax systems in selected countries in Central and Eastern Europe. The linkage of accounting profit as a tax base might decrease the administrative burden for majority of SMEs, which are the most important engine of each national economy.

Keywords: International harmonization, tax system, SMEs, Czech Republic, Slovakia, Estonia, Latvia

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Authors: Vinko Vidučić, Ljiljana Vidučić, Damir Boras

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The goals of the research include the determination of the characteristics of SMEs finance in Croatia, as well as the determination of indirect growth rates of the information model of the entrepreneurs` perception of business environment. The research results show that cost of finance and access to finance are most important constraining factor in setting up and running the business of small entrepreneurs in Croatia. Furthermore, small entrepreneurs in Croatia are significantly dissatisfied with the administrative barriers although relatively to a lesser extent than was the case in the pre crisis time. High collateral requirement represents the main characteristic of bank lending concerning SMEs followed by long credit elaboration process. Formulated information model has defined the individual impact of indirect growth rates of the remaining variables on the model’s specific variable.

Keywords: Business environment, information model, indirect growth rates, SME finance.

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Authors: Goh Yen Nee

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This research aimed to find out the determining factors for ISO 14001 EMS implementation among SMEs in Malaysia from the Resource based view. A cross-sectional approach using survey was conducted. A research model been proposed which comprises of ISO 14001 EMS implementation as the criterion variable while physical capital resources (i.e. environmental performance tracking and organizational infrastructures), human capital resources (i.e. top management commitment and support, training and education, employee empowerment and teamwork) and organizational capital resources (i.e. recognition and reward, organizational culture and organizational communication) as the explanatory variables. The research findings show that only environmental performance tracking, top management commitment and support and organizational culture are found to be positively and significantly associated with ISO 14001 EMS implementation. It is expected that this research will shed new knowledge and provide a base for future studies about the role played by firm-s internal resources.

Keywords: ISO 14001 Environmental Management System, Malaysia, Resource based view, SMEs

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Authors: Anwar Kashgari

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COVID-19 has severe impacts on business all over the world. The great lockdown of many business owners requires a sage deal with this pandemic. This paper seeks to support business leaders with a standpoint about the COVID-19 situation and provides implications for the SMEs (Small and Medium Enterprises) and companies. The paper reflects the author's view about the impact of COVID-19 on business activities. We discussed the impact of COVID-19 upon three aspects, namely, startups, SMEs, and e-commerce. The KSA is taken as an example of the developing countries about which we present the current situation. Finally, recommendations to policy and decision-makers are given.

Keywords: COVID-19, business networking, globalization, Saudi Arabia.

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Authors: Mohsen Shirani, Micaela Demichela

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Food supply chain is one of the most complex supply chain networks due to its perishable nature and customer oriented products, and food safety is the major concern for this industry. IT system could help to minimize the production and consumption of unsafe food by controlling and monitoring the entire system. However, there have been many issues in adoption of IT system in this industry specifically within SMEs sector. With this regard, this study presents a novel approach to use IT and tractability systems in the food supply chain, using application of RFID and central database.

Keywords: Food Supply Chain, IT System, Food Safety, SME.

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Authors: Päivi J. Tossavainen , Leena Alakoski, Katri Ojasalo

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Building a service-centric business model requires new knowledge and capabilities in companies. This paper enlightens the challenges small and medium sized firms (SMEs) face when developing their service-centric business models. This paper examines the premise for knowledge transfer and capability development required. The objective of this paper is to increase knowledge about SME-s transformation to service-centric business models.This paper reports an action research based case study. The paper provides empirical evidence from three case companies. The empirical data was collected through multiple methods. The findings of the paper are: First, the developed model to analyze the current state in companies. Second, the process of building the service – centric business models. Third, the selection of suitable service development methods. The lack of a holistic understanding on service logic suggests that SMEs need practical and easy to use methods to improve their business

Keywords: service-centric business model, service development, action research, case study

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Authors: M. Saleh, H. Bevrani

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This paper quantifies the impact of providing a shortterm excess active power support of a variable speed wind turbine (VSWT) and effect of super magnetic energy storage (SMES) unit on frequency control, particularly temporary minimum frequency (TMF) term. To demonstrate the effect of these factors on the power system frequency, a three-area power system is considered as a test system.

Keywords: Frequency regulation, inertia, primary frequencycontrol, rotational energy, variable speed wind turbine.

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Authors: Craig M. Allen

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Twenty two African entrepreneurs with Small and Medium Enterprises (SMEs) in a single social network centered around a non-Muslim population in a smaller African country, selected an Islamic financing structure, a form of Murabaha, based solely on market rationale. These entrepreneurs had all won procurement contracts from major purchasers of goods within their country and faced difficulty arranging traditional bank financing to support their supply-chain needs. The Murabaha-based structure satisfied their market-driven demand and provided an attractive alternative to the traditional bank-offered lending products. The Murabaha-styled trade-financing structure was not promoted with any religious implications, but solely as a market solution to the existing problems associated with bank-related financing. This indicates the strong market forces that draw SMEs to financing structures that are traditionally considered within the framework of Islamic finance.

Keywords: Africa, entrepreneurs, Islamic finance, market acceptance, Murabaha, SMEs.

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Authors: Beata Ślusarczyk, Sebastian Kot

Abstract:

In subjective terms, Polish SME sector occupies a prominent position in the national economic development, in which planning of the management strategies should be primarily based on identifying and meeting the innovation needs. As a research sample, there is chosen a printing sector of industry. SMEs share in printing sector in Poland is estimated at the level of 81% of all enterprises. In recent years, the printing industry achieved one of the highest levels of EU support in Poland. There is a relatively high increase in the development of technological innovations in equipment and the associated significant increase in production capacity. It can be also noticed that on average, every third enterprise belonging to the printing industry has implemented innovations, but not all of them effected in better economic results. Therefore, the aim of this article is to evaluate the impact of the implementation of innovation projects financed from the EU funds for performance of SMEs in the printing industry. As the results of research of EU funds co-financing effects on the development of innovation in the printing industry, it was specified that examined SMEs prefer to implement product innovation to receive a grant to the project at a level between 40% to 60%, the remaining part of the investment is usually covered with equity. The most common type of innovation had indicated a single implementation, related only to the change in process, technology, or organization. The relationship between variables of the EU funds and management of innovative activities was verified. It has been observed that the identified variables arising from the support in a form of the EU funds had a positive effect on the level of earned revenue, the increase in margin and in increase in employment as well. It was confirmed that the implemented innovations supported by the European funds have a positive impact on the performance of the printing companies. Although there is a risk that due to the decreasing demand for printing services such a high level of funding the companies in this sector will significantly increase competition in the long term, that may also contribute to the economic problems of the enterprises belonging to the analyzed branch.

Keywords: Innovations, SMEs, performance, results.

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